The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
UtNFHAl
LIBRARY}
UNiV. OF
NUCH^
SEP 1® 19W two
SECTION
ONE.
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Bankers* Convention Section
Copyrighted in 1910, by William B. Dana Company, New York.
VOL. 91.
Electric Railway Section
NEW
Entered
tt. Y. Post Office
at
YORK,
State and City Sectibn
as second
class mailmatter.
NO. 2360.
17 1910.
glnattxial.
gtttatCCtAl.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
NEW
YORK
'
'‘A,*
.' ■£
,•
:'£;i
,
Foreign Exchange, Cable Transfer*,
Letters of Credit, Payable through¬
Government,
woiid
out the
I*
V.i
.
.
Rsilrsad
and
NATIONAL
Municipal Bonds
INVESTMENT SECURITIES
The Company to a legal depositary fat
moneys paid Into Court, and to author¬
ised to act as Executor, Administrator,
Trustee. Guardian. Receiver, and In aU
other fiduciary capacities.
a
„
PHILADELPHIA, reprweated W
JAMES
,
,
and Bonds.
Reoelves deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on dally 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 find also for moneys of the City of
New York.
Fiscal Agent for States. Counties and
Cities.
16-22 WILLIAM STREET
475 FIFTH AVENUE
The National Park Bank
of New York
Members of Richmond and Baltimore Stock
US BROADWAY
N. W. HARRIS A CO
BANKERS
Organized 1856.
capital.
Surplus and Profits
Deposits Sept. 1,1910
a»,o6o,eoo00
.
.
.
Pin*
12.524,078 17
102,028,82917
RICHARD DELAFIELD,
President.
GILBERT G. THORNE.
JOHN O. McKEON.
Vice-President.
Vice-President.
Vice-President.
MAURICE H, EWER.
Cashier.
PARIS
OF NEW YORK
.
JOHN C. VAN CLEAF.
NEW YORK
BANK
*
H. CHAPMAN. 421 Chwttmt St.
CHICAGO, represented by D. K._ DRAKE,
/ .
218 La Salie St.
BOSTON. MASS., represented by
JOHN B. MOULTON. 86 Congress St.
Acts fis Trustee under Mortgagee m&de
tot Railroad and other Corporations, and
as Transfer Agent and Registrar of Stocks
LONDON
THE LIBERTY
NEW YORK
Receive deposits subject to check k
and allow interest on balances.
Act as fiscal agents for munici¬
letters
WILLIAM O. JONES.
WILLIAM A. MAIN,
AM. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT. Aset. Cashier.
...
95 Federal St.. Boston
palities
*
SbeM, Comer William
and
of
corporations
credit
and
Issue
deal
in
BONDS FOR INVESTMENT
LIST ON APPLICATION
Exchangee.
John L. Williams & Sons
BANKERS
Comer 9th and Main Streets
RICHMOND, VA.
Baltimore Correspondents:
MIDDENDORF. WILLIAMS A CO.
THE
Edward B. Smith & Co.
MECHANICS AND METALS
BANKERS
NATIONAL BANK
INVESTMENT SECURITIES
Fifth Avenue Bunding
Corner 6th Ave. and 23rd St., New York.
Capital, $ 1,000,000
Members New York and Phlla. Stock Exchange
83 Wall Street
GARFIELD NATIONAL BANK
N. B. Cor. Broad ft Chestnut Sts..
Capital,
Surplus,
$6,000,000
6,000.000
Surplus, $ 1.000,000
RUEL W. POOR, President
JAMES McCTJTC&EON, Vice-Pres.
ORIGINAL CHARTER 1829
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW. Asst. Cashier
National
Clearing House BuUding
Cap. & Surp., S1S.4T2.681
A. B.
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
Dep., *91.787,587
HEPBURN. President
A. H. Wig gin. V.-Pres.
S. H. Miller. V.-Pres.
H. M. Conkey, Cashier
C. C. Slade. Asst. Cash.
E. A. Lee. Asst. Cashier.
W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier
OF RAILROAD, GAS
AND,ELECTRIC
LIGHT AND POWER COMPANIES
109-111 SOUTH FOURTH
STREET
3,
,
i,
* S
-
*.
THE
w
r
4
.
•
*
•
-
'K
•
.
PHILADELPHIA
*
5*
'
NATIONAL
BANK
OF.THE CITY OF NEW.YORK
-CORNER NASSAU AND PINE
STREETS—IS
ESPECIALLY
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
Capital
T
Surplus and Profits (earned)
..
$1,000,000
2,460,000
OFFICERS
EQUIPMENT OF THE
FOURTH
OF THE CITY OF NE% YORK'
.it
y
PMladelpfclft
27 Pine Street, New York
First National Bank
of
SAMUEL tfOOtVEKTON, President
ADRIAN ISBLIN JR.. Vloe-President
GEORGE B. LEWIS. Cashier
HOWSLL T. MANSON, Asst. Cashier
Philadelphia
315 CHESTNUT STREET
DHUECT0H8
Adrian leeUn
Frederic W. .Stevens
ACCOUNTS
INVITED
Alexander H. Stevens
W. Bmlen Roosevelt
4
Chas. A.
^
Peabody
Sfmuet Woolverton
Charles H. Tweed
Thomas Denny
^
'
u
THE CHRONICLE
Xatikex:* atttt l*a«revs at
[VOL.
’Sgattiaix £scbatt0«.
J. P. MORGAN & CO. Maitland, Coppell & Co., Kidder,
DOMESTIC AND FOREIGN BANKERS
Wall Street
52 WILLIAM STREET
Corner off Broad
NEW YORK
DREXEL & CO*
Corner of 5th and Chestnut Streets
MORGAN, GRENFELL & CO* LONDON
HARJEsT
&
CO*,
Bills of Exchange* Telegraphic
Lettere of Credit
PARIS
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 & Co.,
NEW YORK.
BOSTON.
Union
of
Agents for the Bank of Australasia, the British
Gu< aa Bank, Demerara, etc., etc.
TRAVELERS’ LETTERS OF CREDIT
Available throughout the United States
No. 28 NASSAU STREET.
Members New York Stock
CERTIFICATES OF DEPOSIT.
Buy and sell Bills of Exchange
and make cable transfers on all
points.
Exchange.
Agents and Correspondents of the
Messrs. ROTHSCHILD.
London, Paris and Vienna.
ISSUE LETTERS OF CREDIT
beCUritieS
States on foreign countries, including South Africa.
INTERNATIONAL CHEQUES.
1#
Correspondents of
BARING
for Traveler*
Available in all parts of the world.
Draw Bills of Exchange and make Telegraphlo
Transfers to EUROPE. Cuba, and the
other West Indies, Mexico and California.
Execute orders for the purchase and sale of
Bonds and Stocks.
Issue Commercial and
rtfif Travelers’ Credits, available In
”5, |
'Jl CLI1L ap
parts of the world.
BROWN, SHIPLEY & CO., LONDON
BROTHERS
00.
A
LTD.
LONDON
J. & W.
Seligman & Co.,
BANKERS
NEW
BANKERS.
Collect
drafts drawn abroad on all points in the United
States and Canada; and drafts drawn In the United
*
LETTERS OF CREDIT
August Belmont & Co.,
.
Letters
FOREIGN EXCHANGE.
And ltB Branches.
_
STREET, NEW YORK
INVESTMENT SECURITIES.
& Smiths Bank. Limited,
London,
Messrs. Mallet Freres & Cie., Paris,
Banco Nacional de Mexico
ALEX. BROWN & SONS, BALTIMORE.
Connected by Private Wire.
Mems N. Y., Phlla., Boston & Balt. Stock Exch’s.
Buy and sell first-class Investment Securities on com- I nx/pefm pnf
mission.
Receive accounts 111VC5U11CUI
of Banks, Bankers, Corpora*.*
tlons, Firms and Individuals
on favorable terms.
Tranefers,
London
59 Wall Street
,
BANKERS
on
SI Boulevard Haussmann
PHILA.
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
Issue Loans.
No. 13 Old Broad Street
MORGAN,
Peabody & Co
115 DEVONSHIRE STREET BOSTON
NEW YORK
PHILADELPHIA
LX XXXI
YORK
Buy and Sell Investment Securities
Issue
Letters of Credit for Travelers.
Available in all Parts of the World
DRAW BILLS OF EXCHANGE AND MAKE
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE AND CALIFORNIA
SeUgman Brother** London
Seligman Entree A Cie., Earle
Aleberg, Goldberg A Co•* Amsterdam
The Anglo and London - Earle National
Bank of San Erandeco* Cal.
Graham, Vaughan & Co.,
44 Pine Street, New York.
‘
TAILER&CD
IRHhmmdACa
BANKERS
BANKERS
INVESTMENT SECURITIES
27 Pine Street* New York
31-38 Pine Street, New Yerk
MEMBERS NEW TORE STOCK EXCHANGE
BANKERS
624 Fifth Ave.. N. Y.
507 Chestnut Street. Philadelphia.
Lawrence Turnure A Co.
INVESTMENT
Letters
Bankers
SECURITIES
Members of the New York Stock Exchange
Winslow, Lanier & Co.,
64-66 Wall Stroet, New York
Deposits received subject
lowed
to draft.
Interest al¬
on deposits.
Securities bought and sold on
commission. Travelers’ credits, available through¬
out the United States, Cuba, Puerto Rico,
Mexico,
Central America and Spain. Make collections In and
Issue drafts and cable transfers on above countries.
London Bankers:—London Joint-Stock Bank.
Limited.
Paris Bankers:—Heine & Co.
59 CEDAR STREET
Produce
BANKERS
Deposits Received Subject to Draft.
Allowed
on
Deposits.
Bought and Sold
Commission.
Interest
Securities
on
Kean, Taylor & Co.
BANKERS
Cheques,
Bills of Exchange and Cable Transfers.
Deposits
received
subject
Interest allowed
on
to cheque
deposits.
and
Members New York Stock Exchange.
Securities bought and sold
Act
as
on
commission
Fiscal Agents.
Dealers In High-Grade Investment Securities.
Exchange Bank
BROADWAY. Corner BEAYER ST.
Capital
Surplus earned
Foreign
Foreign Exchange, Letters of Credit
of Credit and Travelers’
available the world over.
Lists upon application.
NEW YORK
NEW YORK
Cablet “Mimosa."
-
-
-
-
$1,000,000
500,000
Graham & Co,
Exchange bought and
sold.
Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of the world.
BANKERS
485 Chestnut Street
ACCOUNTS INVITED
HEIDELBACH, ICKELHEIMER & CO.
BANKERS.
87 William Street.
PHILADELPHIA
Government
Securities
and
of
Municipal Bonds,
Railroads, Street
Railwayp and Gas companies
of established value.
MEMBERS N. Y. STOCK EXCHANGE.
90 FINE
Transact
a
STREET, NEW YORK
General Foreign and Domestic
Banking Business
Dealers in Investment Securities
John Munroe & Co.,
NEW YORK
BOSTON
Letters of Credit for Travelers
O— menial Credits.
Foreign Exchange,
Cable Transfers.
munbok a oo., Paris
Execute orders for purchase and sale of
Stocks and Bonds.
Foreign Exchange Bought and Sold.
Act
as
Financial Agents
Issue Foreign and Domestic Letters of
Credit and Travelers’ Cheques
Issue Commercial and Travelers’ Credits
available in all parts of the world.
Schulz & Ruckgaber,
BANKERS.
If William Street.
Members New
New York
Stock Exchange.
Correspondents of Messrs.
Fruhllng & Goschen, London.
John Berenberg-Gossler &
Co., Hamburg.
Marcuard, Meyer-Borel & Cie., Paris.
Bremer Bank Fillale der Dresdner Bank,
Bremen.
Knauth, Nachod&Kiihne
BANKERS
....
York
Iisue Commercial & Travelers’ Credits.
Buy and Sell Bills of Exchange.
Gable Transfers d» Investment Securities
NSW YORK
LEIPSIG, GERMANY
Members New York Stock Exchange.
INVESTMENT
SECURITIES
Sept. 17 1910. J
THE CHRONICLE
Santuevs.
fBatriuvs.
Hattftt**.
Millett.Roe & Hagen
Lee, Higginson&Co.
New York
I Bank
BANKERS
Wm. A. Read & Co.
BOSTON
&, CO.
New York
Dealers In
Members New York, Chicago and Boston
Stock Exchanges.
Buildings, Prince’s Street,
Investment Securities
LONDON. E. C.
S3 Well Street
BANKERS.
Chicago
HIGGINSON
HI
HIGH-GRADE BONDS
Members New York Stock
Excdange
Boston, 15 Congress Street
25 NASSAU
STREET,
NEW YORK
Plympton,Gardiner &Co*
BOSTON
CH1CAQO
BALTIMORE
N. W. HALSEY & CO.
LONDON
Banker*
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Conservative Investments
Interest Allowed
on
Deposit Aoeonnts
Fiscal Agents for Cities and
Corporations
LISTS ON REQUEST
27 William St., New York
232 La Salie Street,
CHICAGO
^
54 Old Broad Street,
LONDON, E. C.
Rhoades&Company
40 Wall
Philadelphia
Street, NEW YORK
Chicago
San Francisco
BANKERS
45 WALL STREET, NEW YORK
George P. Butler & Bro.
SS Wall Street
High-Grade Bonds
Trowbridge & Co.
State,
Municipal
and
NEW YORK
Members N. Y. Stock Exohaage
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.
for Investment
Cor. of Wall and Broad Sts., New Yerk.
Letters of Credit and
Travelers’ Checks
Bonds and Stocks
Available
Throughout the World
HARTFORD—36 Pearl Street
NSW YORK
111
NEW HAVEN
Broadway
134 Orange St.
Goldman, Sachs & Co.
BANKERS
NEW YORK
Members of New York Stock Exchange.
NEW YORK
Buy and
14 State Street,
BOSTON
Sell Foreign
Exchange.
CABLE ADDRESS "COLDNESS.”
Issue
Dealers In
NEW YORK CITY
Commercial and Travelers9
Letters of Credit
DEALERS IN
Securities
and Commercial Doper
COMMERCIAL PAPER
INVESTMENT SECURITIES
Investment
Members New York & Boston Stock Exchanges
Zimmermann & Forshay
• and 11 Wall Street. New York.
24 BROAD STREET.
Members New York Stock Exchange.
NEW YORK.
Orders executed for stocks and bonds for Invest¬
ment or on
Members New York Stock Exchange.
margin.
also
Members New York Stock Exchange
and Boston Stock Exchange.
A6 Congress St.
BOSTON
Ill Broadway
NEW YORK
34 LaSalle St.
CHICAGO
Nassau Street,
New York
-
HIGH-GRADE
INVESTMENT SECURITIES
WollenbergeT & Co.
Specialists In
*31
Foreign Government Bonds
206 La Salle Street
-
-
CHICAGO
LEONARD H. HOLE
Fireip Exchange Boight and Said
W. N. COLER &, CO.
Litters of Credit Issued
BANKERS
Cable
Transfers
to
all
Parts
of
the
World.
43 CEDAR ST.. NEW YORK
INVESTMENTS
CRAMP, MITCHELL & SHOBER
INVESTMENT SECURITIES
SO
BIRD S. COLER
BOND & GOODWIN
Corporation and Collateral Loans
Commercial Paper
So.
Correspondence Invited.
BOISSEVAIN & CO.
BANKERS
Membera of New York Stock Exchange
BANKERS
BANKERS
TRANSACT A GENERAL BANKING AND
STOCK EXCHANGE B USI NESS.
BANKERS
Available In all parts of the world.
and other MUNICIPAL BONDS
Adolph Boissevain & Co.,
Amsterdam, Holland.
SIMON BORG & CO.,
Executes orders for purchase and
saleof Stocksand Bonds.
Blake Brothers & Co.
Exchange Place,
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.
#0 WALL STREET,
50
H. B. HOLLINS & CO.
BANKERS
1411 Chestnut St.
Philadelphia
Members New York and Phlla. Stock Exchangee
Investment Securities
Shoemaker, Bates & Co.
BANKERS
fNew York Stock Exchange
Members! New York Cotton Exohaage
l Chicago Stock Exchange
'INVESTMENT SECURITIES
37-43 Wall Street, New York
WaMarf-Adaria and 5M Fifth Av,.. Naw Ydrit
Raal Estate Tr. Bid,., Phlla.
[VOL. LXXXXI
THE CHRONICLE
IV
fmiUni.
Sanation.
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.
947.619.000
M. 200.000.000
RESERVE
97.500.000
8.750,000
2.900,000
Capital Subscribed
Paid-Up
925.172.895 Reserve Fund
CAPITAL
-
M. 105.726.164.
95= £1 STERLING.
Dividends paid during last ten years:
41. 11. 11. 11. 12. 12. 12. 12. 12. 12 H per cent
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
Branches:
BREMEN.
DRESDEN.
FRANKFORT-O-M.,
MUNICH.
LEIPSIC,
HAMBURG,
i
NUREMBURG, AUGSBURG.
\~
I
deposit are as follows:
At Call. 1H Per Cent.
At 8 to 7 Days’ Notice. 1H Per Cent.
The
The London City &
Midland Bank, Limited,
4 George
Yard. Lombard St.,
LONDON, E. 0.
t
BANCO ALEMAN TRANSATLANTIC
(Deutsche Ueberseeische Bank.)
SUBSCRIBED CAPITAL.----
(97.143.000)
PAID-UP CAPITAL-------M. 22.500.000.
(95.357.000)
M. 30.000.000.
M. 6.827,000.
HEAD OFFICE
With
and
Telegraphic Address: Cinnabar, London.
ESTABLISHED 1836
Kanonlerstrasse 29 to 30.
Buenos Aires,
Cordoba, Tucuman.
BOLIVIA: La Pas, Oruro.
CHILI: Antofagasta, Concepcion, Iqulque. Osorno,
Santiago. Temuco, Valdivia, Valparaiso.
PERU: Arequlpa. Callao, Lima. Trujillo.
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
Bids sent far collection, negotiated or
advanced upon.
Drafts, cable-transfers and tetters
Of credit issued.
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’Y
GEORGE Y*D, LOMBARD ST., LONDON. E.C.
Handels-Gesellschaft,
and Pranxodsche-Strasse 42
Telegraphic Address—Handelschaft, Berttn.
Canadian Bonda
-
-
-
ESTABLISHED 1851
Reserve,
-
-
-
-
M. 110,000,000
M. 34,500,000
d. H.,
POTSDAM. WIESBADEN.
LONDON. E. C..
Swiss Bankverein
Schweizerischer
Bankverein
$40,476,200
Agencies at Rorschach, Chlasso
and Herlsau
M. 170.000.000.
$14,307,764
LONDON OFFICE, 43 Lothbury,
With the unlimited personal liability
Of the JoUovxino partners:
E. RUSSELL,
F. URBIG,
Brasilianische Bank
fUr Deutschland
M. 10 000.000 00
Head office: HAMBURG.
RIO DE JANEIRO, SAO PAULO,
Capital paid up, • Frs.62,800,000
Surplus, .... Frs. 16,330,000
Bank fur Chile und
Deutschland
———
WITH
M. 10.000,000 00
BRANCHES
IN
CHILE
(BANCO DE CHILE Y ALEMANIA), ANTOFA¬
GASTA, CONCEPCION. SANTIAGO, TEMUCO
VALDIVIA, VALPARAISO, VICTORIA; ANE
IN
BOLIVIA
(BANCO DE CHILE Y ALE
MANIA. SECCION BOLIVIANA). LA PA2
AND ORURO.
H
LONDON AGENTS:
DER, DISCONTO-GESELL¬
SCHAFT, 59 Cornhill, e. c
DIRECTION
Tel. Address, Voco.
Codes: Hartfleld’s Wall St., W. U. &
Lleber.
Hong Kong & Shanghai
BAN KINO CORPORATION
Paid-up Capital (Hong Kong Currency)
915.000,000
Reserve Fund/In Gold—915,000,0001
31,000,000
\In Sliver.. 16,000,000/
Reserve Liabilities of Proprietors
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
The National Discount
Company, Limited
35 CORNHILL.
-
-
-
-
LONDON. E. C.
Cable Address—Natdls: London.
SANTOS. PORTO ALEGRE. BAHIA.
HAMBURG.
E. C.
60,092,611.
CAPITAL
VAN OSS A CO.
Bankverein Suisse
Basle, Zurich, St Gall, Geneva
Branches:
f-orelgix.
HOLLAND
Place American Investments in Europe
53 Cornhill.
CAPITAL
Bought Sold and Appraltod
THE HAOUE,
BERLIN W.. 43-44 Behrenstrasse
A.rSCHOELLER,
I
M. SCHINCKEL,
Dr. A. SALOMONSOHN,
CANADA
Description
BREMEN, FRANKFORT-o-M., MAINZ.
M.
W. GRAHAM BROWNE & CO.
MONTREAL
ESTABLISHED 1856
-
-----
CANADA
TORONTO
BERLIN, W„ 64
Behrenstrasse 32-33
Capital,
v.
HEAD OFFICE MONTREAL
96.000.000
CAPITAL
Rest and Undivided Profits
4,602,157
NEW YORK OFFICE. 63 and 65 Wall St.
W. M. RAMSAY.
\Agents.
C. 1. CROOKALL, /
147 branches In the Provinces of Quebec. Ontario.
Manitoba, Saskatchewan, Alberta and British
Columbia. Good facilities tor effecting prompt col¬
lections in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—Royal Bank of Scotland.
WOOD, GUNDY & CO.
Berliner
Disconto-Gesellschaft,
RESERVE
throughout the Dominion of Canada.
London Office, 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLOR. Manager.
MUNICIPAL AND CORPORATION
Banking Transactions of Every
Direction der
-
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
Canadian Bonda
Brandies:
CAPITAL, fully paid,
Agents.
Merchants’ Bank of Canada
Street, London. England.
Branches in all the Principal Cities
Towns of England and Wales.
Sir EDWARD H. HOLDEN, Bart.,
Chirman and Managing Director.
BERLIN
HOCHST-o-M., HOMBURG
.1
Buy and Sell Sterling and Continental Exchange
SUBSCRIBED CAPITAL, $95,741,700
PAID-UP CAPITAL, 19,946,187
(91.625.000)
RESERVE FUND, - 17,951,568
RESERVE FUND-------
Bafcla-Bl&nca.
R. Y. HEBDEN,
W. A. BOG,
J. T. MOLINEUX
HEAD OFFICE
5 Threadneedle
ARGENTINA:
64 WALL STREET
Company discounts approved bank and
and the
(Berlin) London Agency
Head Office—Montreal
Rt. Hon. Lord Strathcona and Mount Royal.
Q. C. M. a., a. C. V. O.—Honorary Preslden
R. B. ANGUS, President.
Sir Edw. Clous ton, Bart.—V.-Pres. 6 Gen. Mgr
mercantile acceptances, receives money on de¬
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
CHRISTOPHER R. NUGENT. Manager.
Deutsche Bank
681,561 44
UNDIVIDED PROFITS,
NEW YORK OFFICE,
WIESBADEN.
BRUSSELS. CONSTANTINOPLE
"
12,000,000 00
REST,
Telegraphic Address, Udlsoo, London.
(95= £1 STERLING.)
NOTICE
IS
HEREBY
GIVEN that the
RATES OF INTEREST aUowed for money on
are as
-
926,342,009
-
(130.000.000 crowns)
RESERVE FUNDS
'
-
-
-
37.900,OW
(39.000,000 crowns)
921.166.625
4.233.325 HEAD OFFICE VIENNA (AUSTRIA)
2,200,000
Branches in Austria-Hungary
Subscribed Capital
Paid-up Capital
Reserve Fund
deposit
ESTABLISHED 1869
CAPITAL (fully paid)
follows:
At Call, 1K Per Cent Per Annum.
At 3 to 7 or 14 Days’ Notice. 1H
Per Cent.
Agram, Aussig a-E., Bielitz-Biela,
Brunn, Budapest, Carlsbad, Czernowitz, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marien-
bad, Meran, Pilsen, Prag, Przemysl,
Approved bank and mercantile hills discounted. Prossnitz, St. Pol ten, Tarnow, Teplitz,
Money received on deposit at rates advertised
from time to time ana for fixed periods upon Teschen, Villach, Wr. Neustadt.
dg
specially agreed terms.
Branch in Turkey
Loans granted on approved ne rot able securities
PHILIP HAROLD
■»
.
.
Manager.
Constantinople
Sept. 17
1910.]
THE CHRONICLE
ffiattatflatx.
$xitb«ss.
THE CANADIAN BANK
OF COMMERCE
Mackay & Co.,
HEAD OFFICE, TORONTO
PAID-UP CAPITAL
$10,000,000
NEW YORK OFFICE:
Edward Sweet & Go.
Nos. 16 AND 18 EXCHANGE PLACE
Wm. Gray and O. D. Mackintosh, Agent!
Members N. T. Stock Exchange
SURPLUS
6,000.000
_
Buy and Sell Sterling and Continental Ex¬
change and Cable Transfers, Commercial and
Tra veler's Credits. Collections made at all points.
Banking and Exchange business of every de¬
scription transacted with Canada.
LONDON OFFICE—2 Lombard Street, E.C
BANKERS IN GREAT BRITAIN.
The Bank of England.
The Bank of Scotland.
Lloyd’s Bank. Limited,
Union of London and Smith’s Bank. Limited.
Bankers & Brokers
34 PINE STREET
BANKERS
Members of the New York
Stock Exchange. Dealers in
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
NEW YORK
National
City Bank Building
55 Wall Street
ESTABLISHED 1894
NEW YORK
The Bank of
British North America
Established In 1616
Incorporated by Royal Charter In 1840
Pald-ap Capital
ESTABROOK & CO.
.£1.000,000 Sterling
£620,000 Sterling
Reserve Fund
Head Office:
5 Graoechurch Street, London, E.O.
New York Office: 62 Wall Street.
H. M. J. McMICHAEL.l Agents.
W. T. OLIVER,
J
Buy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers’ Credits, available In any part of the
world.
Issue Drafts on and make Collections
In all parts of the United States and Canada.
BANKERS
Bleotrio Light, Power and Street
Members New York and Boston
Stock Exchanges
WE OFFER
15 State Street*
24 Broad Street*
BOSTON
HEW YORK
BALTIMORE
DIRECTORS:
O. R. HOSMBR
Oapt. D. O. NEWTON (Montreal)
H. ROBERTSON
O. B- GORDON
ALFRED BAUMGARTEN
MONTREAL
Bankers and
Proven
CHICAGO
C. Meredith & Co., Limited
CHAS. MEREDITH.
J. J. REED.
President.
Vice-President.
G. W. FARRELL, Secretary-Treasurer.
A. H. B. MACKENZIE. Manager.
Railway Enterprises with records
established earnings
of
INVESTMENT SECURITIES
HARTFORD
Boit Brokers and Financial Agents
WE FINANCE
Investment
Pubiio
Dealers
Utility Securities
Correspondence Sollotted
ELECTRIC BOND ft SHARE CD.
R. L. DAY & CO.
37 Wall St.
35
(Paid-Up Capital and Surplus* $4,900,000)
71 BROADWAY
NEW YORK
Congress St.
NEW YORK
BOSTON
HIGH - 6RADE INVESTMENT B8NBS
Muniolpal and Railroad
WILLIAM P. BONBRIGHT ft COMPANY
Members New York and
Boston Stock Exchanges
BANKERS
•
Members of the New York Stock Exchange
Colorado
Springs
24 Broad Street
NEW YORK
COLORADO
Canadian
Investment Securities
Tucker, Anthony &* Co.
London
BNQLAND
Electric Power Securities
BANKERS & BROKERS
CORRESPONDENCE SOLICITED
DOMINION SECURITIES
CORPORATION, LIMITED
Toronto
Montreal
51 STATE ST;
M BROAD ST*
BOSTON
NEW YORK
NEW BEDFORD
NORWICH
Members Boston and New York Stock
Exchangee.
London, Eng.
Investment Saourltlaa
INVESTMENT TRUST CO.
LIMITED
Trustees-Transfer Agents
BOND DEPARTMENT
Canadian
35 Congress
CANADA
HANSON BROS.
Dealers In
Canadian Investment Securities
Send for our circular giving details
MONTREAL
SECURITIES
Deposits Subject to Check
Bigelow & Company
BANKERS
New York
49 Wall Street
St., BOSTON
BERTRON, GRISCOM & JEWS
Land Title BaHding.
PHILADELPHIA.
40 Wall Street.
NEW YORK.
INVESTMENT SECURITIES
James St. Street
on
Alfred Mestre & Go.
BANKERS
BANKERS
Corporation Bonds
MONTREAL
INVESTMENT
Interest
HUNT & CUSHMAN
THE
Travelers* Cheques and Letters of Credit
Members of the New York
Stock Exchange.
Dealers
in Municipal, Railroad and
Equipment Bonds.
H. AMY & CO.
BANKERS.
44 and 46 Wall
Street* New York
INVESTMENT SECURITIES
Letters of Credit.
Bills of Exchange.
Interest allowed
on
deposits
Subject to Draft.
37 Walt St.
NEW YORE
130 S. 15th 8t.
PHILADELPHIA
THE CHRONICLE
VI
lVoi>. LXXXXI
%»«&«** and fgvjokevs outside Sew 3oefe.
LOUISVILLE.
PITTSBURGH.
We Buy and Sell
INVESTMENT BONDS
J. J. B. HILLIARD & SON
of
Municipal and Corporation
INVESTMENT BONDS
-STREET RAILWAY SECURITIES
Pittsburgh, Pa.
A
PHILADELPHIA
PORTLAND
BANKERS AND BBOKEB8
Incorporated
James S. Kuhn,
L. L. M’CIelland.
President.
Sec. ds Trees.
PAID-UP CAPITAL. $500,000
MORRIS BROTHERS
LOUISVILLE. KY.
(NO STOCKS)
J. S. &W.S. KUHN
PORTLAND, ORK
BONDS
Specialty
Correspondents: WALKER BROS., 71 B’way. N. Y.
PACIFIC COAST SECURITIES A
SPECIALT
John W. & D. S. Green
CHILDS & CHILDS
STOCKS AND BONDS
INVESTMENT SECURITIES
SAN FRANCISCO.
Members
New York and Pittsburgh Stock Exchanges
and Chicago Board of Trade
LOUISVILLE, KY
J. C. WILSON
Union Bank Building.
PITTSBURGH, PA.
H. P.
HENRY S. FRAZER
Local Stocks and Bonds
PITTSBURGH
NEW YORK
«nd
Bankers and Brokers
BARROLL & CO.
TENN.
NASHVILLE.
BONDS
AUGUSTA.
1
W. Q. HOPPER,
H. S, HOPPER*
Members of Philadelphia Stock Exchange.
BROKER
STOCK AND BOND BROKERS
28 South Third Street,
PHILADELPHIA
AUGUSTA. GA
Southern
Investments receive our special attention.
In¬
formation cheerfully furnished Hoarding present
Wakefield, Garthwaite & Co.
Securltiee
PACIFIC COAST SECURITIES
for Information
We Invite Request*
proposed Investments.
J. W. SPARKS
WANTED
& CO.
Chestnut and Third Sts..
REED
A
HUNTOON
E.
LOS ANGELES.
BUSH
AUGUSTA, GA.
Specialists in
ATLANTA.
SECURITIES
INACTIVE
4S1 Chestnut St..
-
E. B. JONES
'
CALIFORNIA BONDS
MUNICIPAL AND PUBLIC SERVICE
CORPORATION
&, CO.
MUNICIPAL BONDS
BONDS
YIELDING
PHILADELPHIA
AH% TO 5\i%
THE ROBINSON- HUMPHREY GO.
NORFOLK, VA.
ATLANTA, GEORGIA
MOTTU & CO.
Established 1892.
AND
purchase and sale of
BONDS AND STOCKS
481-434-435-436-437 SECURITY BUILDING
LOS ANGELES
DENVER, COL
WILLIAM R. STAATS CO.
CALVIN BULLOCK
Established 1887
OITT TRAMWAY
BONDS
DENVER
BROKERS
BIRMINGHAM. ALABAMA.
Joseph Ball Company
Orders executed for the
Members Los Angeles Stock Exchange
Yielding 4 Vi % and upwards
Otto Marx &. Co.
a
WE OWN AND OFFER
AND BROKERS HILLYER INVESTMENT CO.
ATLANTA, GEORGIA
NORFOLK. VA.
BIRMINGHAM, ALA.
higher rate of Interest than beads ef
the same merit issued in the East.
Correspondence Invited.
LOS ANGELES. CAL.
They yield
MUNICIPAL. BONDS
BANKERS
BANKERS
James H. Adams & Co.
Philadelphia. Pa.
SOUTHERN
Building,
Member The Stock and Bond Exchange
and Stocks
WILLIAM
SAN FRANCISCO
1st Nat. Bank Bldg..
Offerings of Southern Bonds
Philadelphia.
f PHILADELPIA STOCK EXCHANGE:
MEMBERS! NEW YORK STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
Morris
H. W Heilman Bldg
Los Angeles.
Lumbermen’s Bldg.. Portland.
Merchants’Exch. Bldg.
San Francisco.
W. DICKEY
JOHN
Wm. G. Hopper & Co.
or
Beach.
Correspondents,
Harris. Winthrop & Co.. New York & Chicago
.
STOCKS AND BONDS
PHILADELPHIA.
holdings
LOS ANGELES
Branch. Coronado Hotel, Coronado
THOS. PLATER & CO.
Singer Bldg.
INVESTMENT SECURITIES
SAN FBAN01S00
INVESTMENT SECURITIES
Taylor & Company
268 Fourth Ave.
(New York Stock Exchange.
MEMBER!Chicago Board of Trade.
1 Stock and Bond Exchange. S. F.
Private Wire to Chicago and New York.
NASHVILLE.
SECURITIES.
INVESTMENT
MONTGOMERY.
Municipal and Corporation Bonds
TO YIELD 4%
TO 6%
Descriptive Circulars on Request
PASADBNA
LOS ANGELES
STOCKS AND BONDS
MEYER & GOLDMAN
B. W.
Strassburger
SOUTHERN INVESTMENT SECURITIES
STOCKS AND BONDS
MONTGOMERY, ALA.
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANOE
LOS ANGELES.
OFFICES:
BIRMINGHAM, \
MONTGOMERY,!
BALTIMORE
ALABAMA
COLSTON, BOYCE & CO
MEMPHIS.
BUFFALO.
JOHN T. STEELE
Members Baltimore Stock Exchange
JNO. L. NORTON
INVESTMENT BONDS
Local Stocks and Bonds.
86 Madison Avenue,
MEMPHIS,
TENN.
SOUTHERN SECURITIES
H. M.
25
PAYS0N & CO.
Investment Securities
PORTLAND
Fa
....
Payson
MAINE
Herbert Payaon
Government, Municipal
and
Corporation Bonds
SPECIALISTS IN
PORTLAND, MAINE
Established 1854
BUFFALO, N. Y.
PROVIDENCE.
Buffalo and Western New York Securities
Richardson & Clark
ALBANY, N.Y.
Exchange Street, Providence, B. I.
PETER J.
CALLAN
INVESTMENT BANKER
Bonds, Stocks and Local Securities.
Private wires to Boston, Philadelphia
and New York.
Local, Listed and Unlisted
STOCKS AND BONDS
REAL ESTATE
Sept. 17
1*10.]
THE CHRONICLE
TU
3*tt&**s trad Hreluvs outsi&e Uete fgtoek.
CHICAGO.
CLEVELAND.
GREENEBAUM SONS
BANKERS
FRED. s. BORTON
R. C. ENWRIGHT
.
BORTON & BORTON
^
Corner Clark and Randolph Streets, Chicago.
ST. LOUIS.
T. E. BORTON
INVESTMENT SECURITIES
♦
096.
STOCKS AND BONDS
Chicago First Mortgages and Bonds for sale.
OF CLEVELAND AND NORTHERN OHIO
MEMBERS CLEVELAND STOCK EXCHANGE
A General Domestic and Foreign BanklngBuslness.
GUARDIAN BUILDING
Correspondence Solicited.
Send Jot our latest lists
Hayden, Miller & Co.
INVESTMENT SECURITIES
THE
$18,000
CLEVELAND. OHIO
MUsouri
Charleston
Missouri
Dated July 1, 1910.
Optional July. 1920
Due July 1st, 1930.
Assessed valuation $1,022,
661.
Bonded debt $38,000.
Population 3,500.
Price to yield 4.40%.
$3,500
Investment Bonds
Citizens' Building.
Salem
Dated May 15, 1910.
Optional May 15, 1915.
Due May 15, 1930.
Assessed valuation $681,872.
Bonded debt $26,500.
Population 3,000. Price
to yield 4.40%.
$18,000
of Securities.
Sanford F. Harris & Co.
^
Granite City
Illinois
J,uly 1. 1910. Due serially July 1, 1912
1922. Inclusive.
Assessed valuation $1,813,Bonded debt $42,000.
Population 10,442.
Price to yield 4.30%.
LISTED AND UNLISTED
High-Grade Investment Securities.
Issue Letters of Credit for travelers, available In
all parts of the World.
5 PER CENT SCHOOL BONDS
$14,000
Kennett
Missouri
Dated May 1, 1910.
Maturing $500 May 1,
1916, 1919 and 1923.
$1,000 May 1, 1924 and
1925. Assessed valuation $720,632. Total bonded
debt $13,500.
Population 2,77f. Price to yield
4.40%.
ROOKERY
CHICAGO
CINCINNATI.
& CO.
Slaughter & Co., WEIL, ROTH
Dealers In
A. O.
BANKERS & BROKERS
139 MONROE STREET.
CHICAGO,
ILL.
New York Stock Exchange,
New York Cotton Exchange.
New York Coffee Exchange,
Members: {New York Produce Exchange.
Chicago Stock Exchange,
Chicago Board of Trade,
St. Louis Merchants’ Exchange.
Allerton, Greene & King
THB ROOKERY. CHICAOO
RAILROAD, MUNICIPAL AND
CORPORATION BONDS
IAit
on
High-Grade Bonds
CHICAGO
CINCIHNATI
The Short, Stanton, Worthington Co.
(Successor
Co.,
(INCORPORATED.)
COMMERCIAL PAPER
I. W. Cor. Monroe & La Salle Sts.,
Chicago.
KANSAS CITY, MO.
H.
McCRUM
INVESTMENT 00.
KANSAS CITY. MO
Kansas City Ry. & Light
Western Municipals.
Local Securities.
Issues.
Municipal and Corporation Bonds
BOUGHT AND SOLD
Union Trust Building,
FRIED LANDER
DEALER IN
Cincinnati Securities
CINCINNATI.
.....
[New York Stock Exchange.
(Chicago Board of Trade.
SPECIALISTS
ROCHESTER
Dally Lists Mailed
on
High Class 6% Bonds
50% Stock Bonus
Write fer particulars
JOHN
A.
BURGESS
Member Rochester Stock
104-106 Wilder Bldg.
Exchange
ROCHESTER N. Y.
Twin City Rapid Transit 6s, 1928
Minnesota Transfer Ry. 5s, 1916
St. Paul Gas Light Co. 5s. 1944
City of St. Paul 4 He
Correspondence Invited
all Northwestern Securities
Stole Sacinpt Bank
Minneapolis National Bank Stocks
OHXOAQO
HIGH-CLASS BONDS
DEALT nr
CIRCULARS AND LIST ON APPLICATION
gittanctal.
PROVIDENCE.
PROVIDENCE, B. I.
Local Securities
Gas, Electric Lighting & Railway
Bonds and Stocks
NATIONAL
LIGHT,
HEAT A POWER COMPANY
“bondT
A. H. Bickmore & Co.'•I
BANKERS
BODELL &
CO.
30 Pino Street.
Now Yerk
toe TO S09 BANIGAN BUILDING
PROVIDENCE
Preferred Stocks
of Proven Value.
Bonds and
Joseph T. Elliott & Sons
MINNEAPOLIS. MINN.
SOS LaSalle M.
and other
Blip., St. Pond
BONDS
MUNICIPAL A CORPORATION BONDS
Twin Citv R*nM Transit Sy«fcm Bonds
Mehta .-Laclede Bldg.
ST. LOUIS
Edwin White & Co.
INDIANAPOLIS.
WELLS & DICKEY & CO
Compton Co.
on
Stevens, Chapman & Co.
M. St. P. & S. Ste. Marie 4s
Duluth Missabe & Northern 6s
South Dakota Central 6s
Minnesota & Ontario Power 6s
William R.
Twin City Telephone Co. 1st 5s
*■i—rv-^'v-,rwn~M^runj\ruTjvij\ruvuv‘LrLAfi_ri_rii
MINNEAPOLIS—ST. PAUL
ST. LOUIS
-
MUNICIPAL
MINNEAPOLIS.
»*^*»'**»
300 X. FOURTH ST.
SAINT PAUL
SECURITIES
Application.
WIRES TO
MAAKBT0
OHIO
BONBRIGHT & HIBBARD
\ Rochester Stock Exchange.
PRINCIPAL
CINCINNATI
INDUSTRIAL TRUST CO. BUILDING
Members>:
& CO.
Special Attention to St. Louis Securities
PRIVATE
ALBERT P. MILLER Jr
Building
New York
Investment Securities
HIGH-GRADE
ROCHESTER, N. Y.
100 Powers
Louis, Mo.
Short. Stanton & Co.)
to
Application
A. G. Becker &
St.
WHITAKER
for Investment
EDGAR
W.
A. G. EDWARDS A SONS
The
Audit
company
of NEW YORK.
City Investing Building
I6S
Breadway
Investment Securities
Telephone 6780 Cortland.
Members Indianapolis Stock Exchange
Audits and examinations.
American Nat. Bank Bldg..
INDIANAPOLIS
NEWTON TODD
Appraisals of values of lands, buildings,
machinery, eto.
Financial and cost systems of accounts,
I WILL BUY AND SELL
INDIANA TRACTION SECURITIES
Fletcher Bank Bldg
.
INDIANAPOLIS
WESTERN OFFICE
New York Life
Building. Chicago
THE CHRONICLE
infavs
ERYIN & COMPANY
Co..
A* ?•
BANKERS
BANKERS
wmhWb
Members
149 Broadway, HEW
YORK
"
■T'
*
&
SWew York stock Exchange,
j
elpto 8took £zcha]lge>
BONDS FOR INVESTMENT.
140 Dearborn Street, CHICAGO
Drexel Building,
Philadelphia.
Long Distance Telephone No. L. D. 107.
Street, BOSTON
28 State
Cbertnut 8b 4th St,
NATIONAL BANK
OF CUBA
Capital, Surplus and
Undivided Profits
Assets
Oash in Vaults - -
HEAD OJTIOE—HAVANA
Branches
84 GALIANO ST.. HAVANA.
226 MONTE ST., HAVANA.
PARKINSON &, BURR
NEW YORK AGENCY—1 WALL ST.
Collections
7 Wall Street
63 State Street
NEW YORK
BOSTON
750 Main Street
TELEPHONE 8070 JOHN.
HARTFORD
BANK
E. W. CLARK & CO.
Specialty.
el
HAVANA
OF
76 CUBA STREET
BANKERS,
PRINCIPAL CITIES
Thomas L. Manson&Co.
STOCK BROKERS
PHILADELPHIA
CARLOS DE ZALDO. President
321 Cheatnut St•
Members Phlla. and New York Stock Exchanges.
Interest allowed on deposits.
JOSE I. DE LA CAMARA. Vice-President
New York Correepondent.
George P. Schmidt
Members N. Y. and Boston Stock Exohangea.
HEW YORK
-
a
Sole Depositary for the Funds of the Republic
Cuba
Member American Bankers' Association
Cable Address—Banoonao
Miscellaneous Securities
in all Markets
CAIBARIEN,
SAGUA LA GRANDE!
CAMAGUEY,
SANCTI SPIRITUSJ
CRUCES.
HOLGUIN.
gg&MviLA,
Members New York and Chicago Stock Exchange*
Broadway,
SANTIAGO.
GUANTANAMO.
SANTA CLARA,
PINAR DEL RIO.
C I. HUDSON & CO.
f oa. 84-86 WALL ST., HEW YORK.
MATANZAS.
CARDENAS,
OIENFUEGOS.
MANZANILLO,
BANKERS
100
900,684 60
8,681,379 19
-
-
PRODUCE EXCHANGE. HAVANA
PHILADELPHIA
PRIYATE WIRES TO
S6.26S.922 21
}32
-
Frederic Gallatin Jr.
Albert R. Gallatin
{^^£1 LSk!
J. Prentice Kellogg
William A. Lamed
Chas. H. Blair Jr.
Pvtvato Wtree to Boston, Hartford. New
and Philadelphia
j
James H. Post
Acts as Cuban correspondent of American,
banks and transacts a general banking business.
Capital, 81.000,000
SCHMIDT & GALLATIN
Members N. Y. Stock Exchange
Tel. 8500 Rector
John E. Gardin l
Alvin W. KrechvNew York Committee
111
Haven
Broadway
LADD
PORTLAND
NEW YORK CITY
BANK
& TILTON
•
OREGON
En*bUd>«l lisa
Capital Tolly Paid - - - 81,000,000
Surplus and Undivided Protits 8600,000
A. M. KIDDER & CO.
McCURDY,
BANKERS
HENDERSON & COMPANY
B NASSAU STREET. NEW YORK.
Established 1865
MHMBERS OF N. Y. STOCK EXCHANGE.
Allew interest on
deposits subject to sight check.
Buy ud sell on commission stocks and bonds, and
24 NASSAU STREET
MEUBEBS N. T. STOCK EXCHANGE
Transact
RAILROAD BONDS
GUARANTEED STOCKS
Edwin P. Campbel
Hsnvy O. Campbell
General Banking and Stock
Exchange Business.
a
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
James Q. MaoLean
H. G.
Campbell & Co.
11 WALL STREET. NEW YORK
Members New York Stock Exchange
•Marines
Bought A Sold on Commission
William Herbert & Co.
MEMBERS N. Y. STOCK EXCHANGE
WALKER BROS.
71 BROADWAY. N. Y.
II PINE STREET.
Building
1910
Jas» B.
Colgate & Co.
ti Wall Street. New York.
Members
H. Y. Stock Ex.
Investment
Bonds.
.
every
facility consistent with good banking.
MELLOR & PETRY
Stocks. Bonds, Investment
104 SOUTH FIFTH ST.,
Securities
Philadelphia
MEMBERS
J. S. Farlee.
H. L. Finch.
W. S. Tarbell.
J. S. FARLEE & CO.
INVESTMENT
SECURITIES
PHILADELPHIA STOCK EXCHANGE
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
BANKERS
III BROADWAY, NEW YORK
DEALERS IN
11 WALL ST., N. Y.
Bonds and Guaranteed Stooke
D. H. Schmidt & Co.
Members
Nsw
York
Stock
Bxdhangf.
Invnstmnnt Saourltlaa
NEW YORK;
STREET
T. J. MUMFORD
Fahnestock & Co.
Corporation! and Individuals
We ere prepared to furnish depositors
HEW TOBK STOCK EXCHANGE
IT WILLIAM
WM. FAHNESTOCK.
Memb. N. Y. Stock Ex.
solicited.
INVESTMEMT SECURITIES
HARTFORD. CONN.
1869
Time Deposits and Sayings Aocounts.
Accounts of Banks, Firms,
Brokers and Dealers in
NEW YORK
-
Interest paid on
Members N. Y. Stock Exchange
MEMBERS NEW YORK STOCK EXCHANGE.
Hanover Bank
OFFICERS.
W. M. Ladd, President.
R. S. Howard Jr., Ant. Cub
E. Cookingham, V.-Pre*. J. W. Ladd, Asst. Cashier.
W. H. Dunckley, Cash.
Walter M. Cook, Asst. Cash.
Simpson, Pearce & Co.
Orders Executed in all Markets.
JOHN H. DAVIS 6, CO.
BANKERS AND BROKERS.
No. 10 WALL STREET.
Members N. Y. and Phila. Stock Exchanges.
Orders for Stocks and Bonds executed upon all
Exchanges In this country and Europe.
Especial attention given to supplying hlgh-olaan
INVESTMENT SECURITIES.
Interest Allowed
on
Deposits Subject to Checks-
B/ikera and Dealera In
INVESTMENT SECURITIES
2 WALL STREET.
VICKERS &PH ELPS
Members New York Stock Exchange
Telephones
111 BROADWAY
44S0-1-2-8-4 Rector
NEW YORK
M Wall Stmt. N.w York City.
Members of New York Stock Exchange
BONDS
Oash orders only in stocks accepted
W. H.
Goadby & Co.
Bankers and Brokers
EG. 74 BROADWAY,
NEW YORK
E. & C. RANDOLPH
Members
Ill
New
York
Broadway,
Stock
New
WEBB & CO.
INVESTMENT SECURITIES
74 BROADWAY
Exchange.
EDWIN R. CASE
York.
Open Market Securities Department
HORACE HATCH. Manager.
Dealers In Investment and Other Securities of the
United States and Canada
NEW YORK
NEW
JERSEY
SECURITIES
No better Securities'
16 EXCHANGE PLACE
No better State
Tels. 566
JERSEY CITY
Sept. 17
THE CHRONIGLE
1910.]
lx
gtnattctal.
OFFICE CUP THE
H. M. BYLLESBY & CO.
ATLANTIC MUTUAL INSURANCE COMPANY.
New
ENGINEERS
EXAMINATIONS and EEPOET8
Yarik, January 21st, 1910.
The Trustees, in conformity with the Charter of the Company, submit the following statement of Us affaire
on the 31 st of December, 1909.
Premiums on Marine Risks from 1st January. 1909. to 31st December. 1909
33.759,391 25
Premiums on Policies not marked oil 1st January, 19C9
717,712 70
Total Marine Premiums
34.477,103 90
....—
-.
Premiums marked Off from 1st January. 1909. to 31st December, 1909
218 La Salle Street,
CHICAGO
Portland, Ore.
Oklahoma
City, Oklahoma,
Mobile, Ala.
Interest received during the year
.—
3322,046 46
Rent less Taxes and Expenses.....^....-.-.—--—..... 145,679 82
.
Engineers, Contractors
43-49
Exchange Place, NEW YORK
San Francisco, Cal.
Chicago, Ills.
In vest! cations and Reports on Electric
Railway Gas, Electric Light and Power
Properties. Irritation Systems, ftc., for
Financial Institutions and Investors.
Electric
Railways, Electric Light and Power
Plants, Gas Plants, Financed,
Designed and Built.
London Correspondents:
J. G. WHITE A CO., Limited,
0 Cloak Lane. Cannon St.. E. C.
C. G. YOUNG
Engineering and Construction
Plans, Methods, Operation
SIXTY
Public Utilities and Industrial*
WALL ST.,
NEW YORK
Reports for Financing
Mem ‘Am. Soc. C. E.
H. U. WALLACE
ENGINEER
Examinations. Reports. Surveys. Supervision of
sanstrucUon and operation of Electric and Steam
Railroads, Power Plants, Transmission lines.
Oentr&l Stations and Irrigation projects, Ete.
■x-Supt. Illinois Central HR.;
?Z
*
—
,4,
483,41155
235,520 48
31,493,426 20
Returns of Premiums
360,285 14
4^..
Expenses, including officers* salaries and clerics* compensation, stationery,
newspapers, advertisements, etc—......—
—
settled
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay loams under poli¬
cies payable In foreign countries.
Cash In Bank
Aggregating
32.393,297 00
Premiums on Unterminated Risks.
Certificates of Profits and Interest
Unpaid
Return Premiums Unpaid
35.461,042 00
Special deposits In Banks ATrustCos. 1,000.000 00
......w
Real Estate cor. Wall A WllllamSts.,
A Exchange Place.34,299,420 04
Other Real Estate A
claims due the com¬
pany
75.000 00
.
Estimated Losses and Looses Un¬
Stock, City, Bank and other Se¬
curities
-
3350,913 94
LIABILITIES.
ASSETS.
United States A State of New York
085.540 90
203,408 95
120.509 42
*
Certificates or Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums *
Certificates of Profits Outstand¬
ing
4,374.420 04
22.303 49
..
1,213.009 08
7,404,890 00
370,000 00
Real Estate Reserve Fund
239.948 04
033,405 13
312,921,090 89
311.200,125 70
Aggregating
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.ls declared on the net earned premiums of the Company for the year
ending 3lst 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.
;
t
By order of the Board. G. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
CLEMENT A. dRISCOM.
ANSON W. HARD.
LEWIS CASS LED YARD.
CHARLES D. LEVERICH.
LEANDER N. SLOVELL.
GEORGE H. MACY, V
CHARLES H. MARSHALL.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH,
JOHN CLAFL1N,
GEORGE C. CLARK,
CLEVELAND H. DODGE.
CORNELIUS ELDERT.
RICHARD H. EWART.
PHILIP A. S. FRANKLIN.
HERBERT L. GRIGGS.
DALLAS B. PRATT,
GEORGE W. QUINTARD.
A. A. RAVEN.
JOHN J. RIKER,
DOUGLAS ROBINSON.
GUSTAV H. SCHWAB,
WILLIAM SLOANE,
ISAAC STERN.
WILLIAM A. STREET.
GEORGE E. TURNURE.
NICHOLAS F. PALMER,
HENRY PARISH.
ADOLF PAVENSTEDT.
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. 4th Vice-President,
■j.
I
Chief Engineer
Illinois Central RR.; and Gen'l Manager Chicago
Lake Shore A South Bend Electrlo Railway.
Marauette Bldg.
3467.726 28
Lasses paid during the year which were estimated In 1908
and previous years
-———— 3829,378 19
Losses occurred, estimated and paid in 1909
1,149,459 56 31,978,837 75
Less Salvages--..-—
Re-Insurances
J. G. WHITE & CO.
33.791,557 03
CHICAGO. ILL.
■dmond C. Van Dtest
Robert McP. Doble
Thomas L. Wilkinson
Associated
L. F.
Engineers Co.
Examinations, Reports Construction, Operation
Irrigation Enterprises
UTCentury Building
a
Specialty
NEW YORK
OKNT8IL COLO.
•*,
Establshed
isstf,
L. REGISTER
Successors to
C6.
A
ENGINEERS & GENERAL CONTRACTORS
Philadelphia.
.
*'.+'■
•
i
-
'
'
DISCOUNT AND GUARANTEE SALES
fptatttg Sttgfttetvs.
H.
u
FOR MANUFACTURERS
AGENTS
AND
CARRY NO GOODS FOR OWN ACCOUNT
M. CHANCE
Consulting Mining Engineer and Geologist
mme±
COAL HD MINERAL PROPERTIES
-
Examined, Developed, Managed
eat DfaxeLBIds.
*
PHILADELPHIA. PA
IS50
(NETHERLANDS ADMINISTRATION A TRUST COMPANY )
1909
»S
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M.
■D. TOWNSEND, Pres. Imp. A
TradewNat. Bk
Good men, whether experienced In Ufe tpnuranet
not, may make direct contracts with this Com
panr.
for a limited territory If desired, and scour*
for
themselves. In addition to first year's oommls
•ton. A
Interest Insuring an Income for#p
future.
Address the Company at Us Hems Otfler
No. *77 Broadway. New York City
Steed
-
AMSTERDAM. (Hbttaud.)
H. NEINfcSZ, President
Board of Directors!
H. WALTER. L. D.._
Chairman,
de Kock A Uyt den Bogaard.
Ph. MEES.
_
A. A. H.
BOISSEVAIN^
Director of Swiss Bankvereln and
of Labouchere. Oyens A Co's Bulk.
D., President.
Finance Committee
•r
*
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
Pepper * Register
US North Broad Street
'i
General Offices; 57 Greene Street
'
A.
& 60
J. A. DUYNSTEE.
Telaers A Co.
F. Th. EVERARD.
Banker.
P. M. J. GILISSEN.
,
Arnold Glllssen.
CO.
Acts
Acts
as
as
Executor,
Trustee of
R. Meet A Zoonen.
tsz.
Jent..*,
a. h: de marez
r.
it
*
a f
v
w
Labouchere, Oyens A Co e Bank.
A.
Ls_G. H.
PICH0T,
Westerwouc
roudt
A Co.
W. M, SCHEURLEER,
Scheurleer A Zoonen
Administrator, Trustee,
Corporation Mortgages.
Guardian, Agent, eta.
z
THE CHRONICLE
ffitiweetxl
gaud guqntxUs.
Detroit Southern, Ohio Southern Division 4s, 1941
Fonda Johnstown & Gloversville 4J^s, 1952
Cleveland Lorain & Wheeling 5s, 1933
Gulf Beaumont & Kansas City 5s & 6s
Norfolk & Southern general 5s, 1954
Providence Securities 4s, 1957
Hudson River Water Power 5s
Wabash Equipment 5s, 1921
Southern Indiana 4s, 1941
American Thread 4s, 1919
Central Vermont 4s, 1920
Cuban Internat’nal 5s
AND ALL OTHER STEAM RAILROAD SECURITIES DEALT IN
F.
STREET,
Sloss Iron A Steel 6s
Sloss Iron A Steel 4^8
Chesapeake A Ohio Grain Elev. 4s
Kings County Gas A Ill. 5s
N. Y. A Queens Elec. Lt. A P. 5s
Nashville Flor. A Sheffield 5s
G. W. Walker & Co
Tsi. 100 Broad.
95 Bread St., N*w Ft*
CHESAPEAKE A OHIO
LOUISVILLE A NASHVILLE
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
BROAD
G. W. Walker & Co.
WiU Buy
Underlying Bonds
J. USMAN & COMPANY,
30
[Vol. mm.
SOUTHERN RY.
NEW YORK
SUTRO
Land Title A Trust Oo. Building, PHILADELPHIA
89 Pearl Street, HARTFORD
BROS. & CO.
BANKERS
44 PINE STREET. NEW YORK
Members New Terk Stock Bxohaage
•
i
Public Serv. Corp., N.J., gen. 5s,
N. T. Telephone 4^s, 1939
Mason City A Ft. Dodge 4s
1959
LIBBEY A STRUTHERS
55 Cedar Street
Robt.Glendinning A Co,
NEW YORK
Wis. Minn. A Pac. 4s
Lake Erie & West. Coal & RR. 6s
A. A
LISMAN & CO.,
Til. 8950 Broad
15 Broad St.. New York
Richmond &
Central
Allegheny 1st 4s
Georgia Cons. 5s
C. I. L. 6s
Canton
(0.) Electric Co. 6s, 1937
(0.) 6% Preferred Stock
Lansing Fuel A Gas 5s, 1921
Portland (Me.) Electric Pref. Stock
Beattie Lighting Co. 6s, 1920
Canton
j
H. L NASON & CO.
Shawfnut
Bulk
BOSTON,
Building,
Kentucky Central 4s
Washington Central 4s
Providence Securities 4s
WANTED
BANKERS
WE OFFER
STREET, HEW YORK,
INVESTMENT
CITY OF ATLANTA
New 4^s, 1936, Validated
8b CO.
Interest allowed
Individuals and
BONDS
accounts of
on
Corporations
HMPIRE BUILDING. ATLANTA. GA.
Bangor & Aroostook (all issues)
Atchison adjustment 4s
Chicago & Western Indiana 4s
FERRIS & WHITE,
TW. 03*7-8 Hanover
IT Wall St.. N. Y.
WANT TO BUY
Somerset Coal 5 s
Wheeling Terminal 4s
Cuban Government 5s
Cleve. Akron & Columbus 4s
Atlanta Knoxville & Cin. 4s
Wheeling & Lake Erie Equipment 5s
Cincinnati & Muskingum Valley 4s
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.4J^%s,SeriesC,
Oct. 1915 to April 1919
BURGESS. LANG 8b CO.
Private
NEW YORK
Biter, Ayling & Company
BOSTON
Pr.vld.nw
New York
Boston
30 Broad Street
50 Oongreas Street
WE WANT
Phila. & Erie 4s, 5s & 6s
Pan Handle 4s & 4 Ms
Penna. Co. 4s. 19S1
Schuylkill River East Side 4s
Allegheny Valley 4s
Western Penna. 4s, 1928
Penna. RR. Gen. Freight 4s
Norfolk & Western Equip. 4s
New York Central Equip. 4 Hi A 5s
REED A. MORGAN & CO.,
West End Trust Bldg., Phila., Pa.
Members of the Philadelphia Stock Exchange
Tele phenes. J Bell- Spruce tl-Sl.
I Keystone-Race 105
Ozark A Cherokee Central 5s
Kansas A Colorado Pacific 6s
.
Southern Pacific of Colorado 6s
BLAKE a REEVES
Tel. 1504 John
First
Railroad and Other
84 Pine Street. New York
C
Conservative Investment
Pingree, McKinney & Co.
K. B WADE
Tel. 6744 Hanover
Mortgage Bonds
for
Investment Bonds
49 Wall Street.
8
Congress Street,
Boston
4s, 1955
St. Clair Oo. Gas A Elec. Co. 1st Cons.
*Schwarzschild A Sulzberger 6s, 1916
Mahoning A Shenango Ry. A Lt. Oo.
Mason City A Ft. Dodge 1st
*Morris & Co. 1st 4 J^s, 1939
*Listed
PhlltMphl,
Plattsburg Gas & Electric Pref.
Telephone 1417-S-9 John
80 Broadway. New York
BONDS
Adams Express
American Brass
Hood Rubber
Lord & Taylor Pfd.
Plattsburg Gas & Electric Com.
FREDERIC H. HATCH & CO
Wire
BOSTON
50 State Street
S4 Pine Street
J. H. BECKED A CO.
YW. 885 Rector
50
100
50
100
100
50
T. W. STEPHENS & 00
MASS.
HILSMAN
Kan. City Ft. Scott A M. Ref. 4s
West Penn. Ry. 1st 5s
Wilkes-Barre A Wyo. Val. Tract, is
Mt. Washington St. Ry. 1st 5s
Choctaw Okla. A Gulf Consol. 5s
Easton A Northern 1st 4)^8
Western N. Y. A Penn. 1st 5s
Manufacturers’ Water Co. 5s
Indiana Ill. & Iowa 4s
2 WALL
J. H.
400 Chestnut Street. Philadelphia.
on
Chicago Stock Exchange
curtisYTsanger
Member* N .Y.. Boston Jb Chicago Stock
Exchanges
49 WaU Street
Boston
NEW YORK
6s, 1959
1st Ref.
6s, 1916
Chattanooga Ry. A Lt. Co., 1st A
Ref.
6s, 1956
WURTS. DULLES & CO.
UB S. FOURTH ST..
Chicago
PHILADELPHIA
Telephone Lombard 1080-1001
Sept. 17
THE CHRONICLE
1910.]
®nmzut %eu&
^^^nj^ru-trunrvrunru-\riru,\rv>-,v^*«^i“ *
XI
Stuptivi**.
*-■*AAAAA^WV^%WWW/VWWVVVVVVWA<VVNAAAAA****■wwvinrii‘W‘/wi^‘»******^A<>*^AA^AAA^AAAAAA^A^AAWW*"'
Royal Baking Powder Preferred
Amer. Gas A Electric Preferred
General Rubber 4 Us, 1916
Oons.Wat.Oo.of Utica Gen. 6s, 1930
Capital $5,000,000
Saratoga Association Stock
Main Office:
28 Nassau Street
Guaranty ofTrust
Company
New York
mill & Co.
Glide, WIn
BANKERS
20 BROAD STREET,
Surplus $18,000,000
Established 1864
Georgia Midland 3s, 1946
Mexican Internet. 1st 4s, 1977 (stpd.)
Railroad Securities 4s, 1962
N. 7. Susq. A Western 6s, 1940
"««■«
Fifth Avenue Branch
Fifth Avenue & 43d Street.
E. 7.
SAFE DEPOSIT VAULTS
Telephone 445*^7 Rector
London
Pitts. Gin. Chic. A St. L. 3>£s A 4s
33 Lombard
Branch
Street, E. C.
Kentucky Central 1st 4s, 1987
Chic. Rock Isl. A Pac. Ref. 4s, 1934
Oregon Short Line Ref. 4s, 1922
Mo. Kan. A Tex. Ext. 6s, 1944
Mobile A Ohio, Montg. Div. 6s,
Transacts
General Trust
Foreign Exchange
Company Business
Investment Offerings
1947
NEWBORG & CO.,
Municipal, Railroad and
“NEWROSB”
PRIVATE WIRE TO ST. LOUIS
American Thread 4s, 1919
Armour 4^s, 1939
Chic. Burl. A Q. Joint 4s, 1921
Chicago Subway 6s, 1928
J, K. Rice, Jr. & Co., Buy and SeU
BONDS
Lake
Edward V. Kane & Co.
New
66 BROADWAY. N. Y.
Coble Addraes,
Corporation
Public Service
MEMBERS N. Y. STOCK EXCHANGE
telephone 4190 Rector.
a
PHILADELPHIA
North American Building.
Superior Corp. 1st 6s
Jersey Steamboat 1st 5s
United Lead Deb. 6s
Member* Philadelphia Stock Exchange
'Phonee Bell-Walnut 2200
Keys tone-Race 4-99
Phelps, Dodge A Co. Stock
Singer Mfg. Co. Stock
£Tenn. C. A I., Birin. Div. 6s, 1917
Amer. Snuff Common Stock
Central Union Gas 1st 6s, 1927
Westchester Lighting 6s, 1950
Eastman Kodak Common
Metropolitan St. Ry. 5s, 1997
O’Gara Coal 6s, 1966
Edison Elect, of Bklyn. 4s, 1939
Penn. Coal A Coke Cons. 6s, 1963
Iron Steamboat Co. 4s, 1932
Public Service Oorp. 6s, 1969
Schwarsschild A Sulzberger 6s, 1916
PATERSON & CO.,
San Antonio A Arans. Pass 4s, 1943 Tel. 1985-6-7 Rector
SO Broad St.. N. V
Western Pacific 6s, 1933
We have GOOD MARKETS in unlisted
active securities and respectfully
andfinInvite Inquiries.
J. K. Rice, Jr. & Co.
’Phones 7460 to 7466 Hanover.
22 Wall St.,N.Y.
MEGARGEL & CO.
New York Central Lines
GILMAN & CLUCAS
BANKERS
6 Nassau Street
NEW YORK
Equipment Trust 4J^s
Dealers In
Chicago Great Western 4s, 1959
Oregon Short Line 5s, 1946
Duluth A Iron Range 6s, 1937
Wheel. A Lake Erie Cons. 4s, 1949
Ft. Worth A Rio Grande 4s, 1928
EYER & COMPANY
Tel. 7750 1-14 Hanover
97 WaU Street
NEW YORK
_
_j.
reg.
9
Alabama State 4s. 19m, 1956
Winona & St. Peter 7s. 1915
Dakota & Gt. Southern 5s. 1916
New Orleans Mobile &. Chicago 6s, 1960
New Mexico Ry. & Coal 6s, 1947,1951
Auburn Gas 1st 5s, 1927
Short-Term Municipal Bonds and Notes
DOUGLAS FENWICK & CO.
Tel. John 109
FREEMAN 4,COMPANY
24 PINE STREET. NEW YORK
Telephone 6089 John
For the
asking
will send
we
you
High-Grade Investment Bends
NEW HAVEN. CT.
full
report and map of the
PORCUPINE
Sanford A St. Petersb. 1st 4s, 1924
Ga. Ry. A Elect. Cons. 5s, 1932
Oregon Short Line 1st 6s, 1922
gold fields and keep you posted. It
costs nothing and may prove very
profitable
WARREN, GZ0WSKI & CO.
4^s,
Florida East Coast 1st
1959
N. 7. Central Lines Equipments
WOLFF & STANLEY
Tel. 6557 Broad
Equipment Bonds and Car Trusts
Swartwout &
Appenzellar
BANKERS
Lists sent upon requests
]o$epl>malker&$oti$
Members New York Stock
Broad St.
Exchange.
90
New
York.
Private win to Philadelphia.
Coffin & Company
NEW YORK.
WANT
Norfolk A Western Div. 4s
C. B. A Q., Ill. Div. 4s, reg. or coup.
Panhandle 4^s, Series “B”
Paducah A Memphis 4s
44 Pin. Strwt
63 State Street,
Telephone Main 984
We
Cities Service Company
Stocks
are
in the market to purchase
any underlying gas and electric
securities of the PURLI0 SER¬
BOUGHT AND SOLD
VICE CORPORATION OF NEW
JERSEY
LAMARCHE & COADY,
W. E. R. SMITH & CO..
Tel. 5775*6 Broad.
26 Broad 8t.. H. Y.
90 Broad Street
-
-
Hew Teift
Jamestown*Franklin & Clearfield 4s
Wabash 2nd 5s
Houston & Texas Central 6s, 1930
Scioto Valley & New England 4s
Central Vermont 4s
Florida Southern 4s
j
<
’
jj
i
>
Southern
Railway, St. Louis 4s
Lehigh & New York 1st 4s
Louisville Henderson & St. Louis 5s
St. Louis & San Fran. 4%sf 1912
Peoria Water Co. Prior Lien 5s
OFFER
Pittsburgh A Western 1st 4s
BOSTON, MASS.
NEW YORK CITY
Wabash-Pittsburgh Terminal lft4s
Kentucky Central 4s
St. Paul A Duluth 4s, 1968
La Orosse A Davenport 1st 5s, 1919
N. Y.
GEORGE L. WARE
Members N. Y. Stock Exchange
Investment Bonds
27 William St.,
25 Broad St., New York.
Toronto;
S4 WALL ST
Tax Exempt
Guaranteed Stocks
24 Pine Strce
NEW YORK.
1st Nat. Bank Bldg..
WERNER BROS. & GOLDSCHMIDT
Tel. 4800-1-2-3-4-5 Broad,
25 Broad Street, N# Y*
THE CHRONICLE
SU
[VOL. r.TTTU
ensssnt 8«uA Itujutrtes.
Stone & Webster
14T Milk
WANTED
Cumberland Telephone ft
Telegraph Co. Stock
Street.
BOSTON
First Nell. Beak Bldg
CHICAQO
I ItolHi Street
MEW YORK
We offer for Iavestms^t
Securities of
Public Service Corporations
under the management
of our organisation
to
yield
Hurley (Wis.) Water Co. 4s
BOUGHT AND SOLD
Aurora
GOULDING MARR
Broker
NASHVILLE,
-
TENN.
-
MelHii these companies will be sent
request.
H. C. Splller A Co.
Specialists in Inactive Bands.
brokers and
The most conservative bankers,
BABSON’S REPORTS
ON
Ft. Smith Light A Traction 5s
Ontario Power 5s
Standard Oil Cloth Com. A Pref.
New Hampshire Elec. Rys., Oom.A Pf
For details concerning these Reports or our
“Business Barometers” (which we Install In banks
both for their own and customers’ use) address
Babson’s Compiling Offices, Wellesley Hills, Mass.
NEW YORK OFFICE. S3 BROADWAY.
Largest Statistical Organization In the U. 8.
)4%
CORPORATION
) 6%
Selected for
> TO
Oonservatiye Investors.
Lists Moiled Upon Application.
invelope Pref.
Douglas Shoe Pref.
Boston Securities Pref.
Regal Shoe Pref.
American Investment Sec’s Pref.
American Storage Battery
Oxford Linen. Series C
HOTCHKIN ft CO.
IT STATE STREET. BOSTON
INVESTMENT SECURITIES
S3 STATE ST.. BOSTON
Telephone 3448 Main
Commonwealth Power 5s, 1924
Grand Rapids Edison 5s, 1916
Michigan Municipals, did issues
Detroit Hillsdale A S-W, 4% Stock
Grand River Valley, 5% Stock
Commonwealth Pr RyA Lt, Pfd A Com United Rys. of St. Louis 4s
Union El. Lt.& P. Oo. of St.L. 1st 5s
Hughes Clarke
415 Ford
BONDS
Building, Detroit, Mich.
Nevada-Califomia Power Co. bonds and stock
Denver & N. W. Ry. Ss and stock
Northern States Power Co.
Denver Qm A Electric 6s
Northern Idaho & Montana Power Co.
BANKERS
27*26 PINE STREET. NEW
TQRK
Washington
Philadelphia
Established 1864
Pittsburgh
Telephone 2817 Rector
INSURANCE STOCKS
Fidolitya Phoenix, Homo,
Niagara, Continental, do.
BOUGHT AND SOLD
E. S. BAILEY
88 BROADWAY
NEW TORE
NOTH
_
& RIO
New York, September 10, 1010.
To the Stockholders of
The Denver & Rio Grande Railroad Company:
The annual meeting of the Stockholders of The
Denver & Rio Grande Railroad Company will be
held at the principal office of he Company In
Denver, Colorado, at 12 o'clock noon on Tuesday,
October 18th. 1910. The meeting will be held
for the election of Directors and for the transaction
of any other business pertaining to the Company
that may be properly Drought before It.
The books for the transfer of the stock of the
Company, both Common and Preferred, will be
closed for the purposes of the meeting at three
o'clock p. m. on Tuesday, October 4th, 1910, and
will be reopened at ten o'clock a. m. on the day
following the annual meeting or the Anal ad¬
journment thereof.
STEPHEN LITTLE. Secretary
8Kautaft.
Experienced bond man open for engagement
with house handling savings bank bonds. New
York City territory preferred, or will travel.
Address "Experienced." care Commercial and
Financial Chronicle. P. O. Box 933, New York.
YOUNG LADY, 19, desires position as steno¬
grapher and typewriter. Small salary to start.
Down-town preferred. "M. R« Q.," care Com¬
mercial & Financial Chronicle, P. 0. Office Box
958, New Yddk City.
Laclede Gas Oo. of St. Louis Ref. 5s
Kan. 0.
By.dk Lt. 5s & Underly. See’s
DEALT IN BY
(ESTABLISHED 1177)
214 North 4th Stmt. ST. LOUIS
6% BONDS
S. C. HENNING A CO.
116 So. 5th St..
LOUISVILLE. KY.
71 Broadway
NEW YORK CITY
WANTED
Grand Rapids Ry. Co. 1st M. 5% Bonds, dot 1915
OFFER
St. Joseph Railway. Light. Heat A Power Co.
1st Mortgage •% Bonds. 1937.
Sutton,
Strother & Co.,
Calvert and German Streets
BALTIMORE
ot
Electric Railway and Lighting
Co.
Large City—State Capital
Earnings about 3 times Interest charges.
Dividends on stock. Present price very low.
W. E. HUTTON ft CO.
Members New York Stock Exchange
Established 1886
25 Broad Street.
-
New York
Private wires to Cincinnati. Chicago. San
Members of Baltimore Steak Bxehaago
GRANDE
ANNHAL MEETING.
Laclede Gas Oo. of St. Louis 1st 5s
FRANCIS, BRO. & CO.
Union Railway, Gas A Electric
Portland Railway, Light A Power
Street Rail wav
ALL LOUISVILLE LOCAL SECURITIiS
ptjeoiittgs.
THE
Union El. Lt.& P. Go. of St. L. Ref. 5s
JAMES N. WRIGHT & CO
DENVER, COLO.
Lawrence Barnum & Co.
Arlington Mills
FOR SALE
Jug. Com.
O. H. FARNHAM
Wm.
MUNICIPAL
RAILROAD
WANTED
Waltham Watch Com.
American Caramel Com. A Pref.
Hartford Carpet Com.
Hood Rubber Pref.
Georgia Ry. & Elec. Com.
Shawinigan Water A P. 5s. 1934
St. Louis Rocky Mt. A Pacific 5s, 1965
WANTED
Wheeling Traction 1st 5s
Michigan Lake Superior Power Receipts
Appleton (Wis.) Water Works 5s & 6s
Cleveland Painesville A Ashtabula 5s
Glens Falls Gas & Electric 5s
Game well Fire Alarm Stock
Fundamental Conditions
Boston
AT State street
F. W. MASON & CO.
Investors have constantly before them
Elgin & Chieago 1st 5s
Peoria Waterworks Co. 4s & 5s
Council Bluffs WaterWks.Co. 6s
Newark (0.) Water Co. 6s
Waltham Watch Co. Common
Peoples’ Gas & Elect., Oswego, 5s
Youngstown A Southern By. 5s
Our Manual
Hampshire Elec. Ry. stocks
New
New Orleans Mobile A Chicago 5s
Leadville (Colo.) Water 4s
5% to 654%
upon
Delaware (0.) Water Co. 6s
Omaha Water Co. 5s and Stock
Seattle-Tacoma Power Co. stock
Frand&co and Los Angeles.
WE OFFER
LINDSEY WATER COMPANY
First 5s, 1919, Underlying 2d Mtge. Bonds
George B. Atlee A Co.
Bankers
119 S. Fourth St.
Philadelphia
Specialize in Securities of
Temple Iron
Klots Throwing
U S. Lumber
Spring Brook Water
Pa. Coal 3 Coke
New River
Chicago Subway
Scrantoo Railway
Scranton Electric
Pa. Cent. Brewing
Northern Electric
Scranton Gas A Water
New Mexico Ry.ft Coal Paint Creek Collieries
AW. V. R.T. W. B. A Wyo. V. Tree.
.
BROOKS
ft
BANKFRS
CO.,
EMBERS NEW YORK STOCK EXCHANGE
423
Spruce St.,
SCRAN TON, PA.
Sec. Nat Bank Bldg..
WILKES-BARRE, PA.
Correspondents: EDWARD B. SMITH A CO..
ST Pine St.. Naw York City.
New York State
Railways,
common
Mohawk Valley Oo.
Stocks and Scrip.
MALCOLM
60
STUART
Broadway.
Telephone,'
HBW YORK
lii Reetet.
Indiana Columbus A Eastern Traction 5s. 1926
Atlantic City Qas Co. 1st Mtge. 5s, 1960 si
Detroit A Pontiac Ry. Co. Cons. 4 &s, 1926
Gas Light Co. of Augusta, Ga., first 5s. 1936
SAM U EL K. PH ILLI PS ft CO,
421 Chestnut St
PhltaMphl,
Members of Philadelphia Stock Exchange.
Coal & Iron National Bank
Union
Exchange National Bank
LUTZ A COMPAmr
Bank and Trust
25 Broad 8t.,
N. Y.
Company. Stocks
Tel. 273 Broad
Sept. 171910. |
THE CHRONICLE
$vnst ©jorojfittties.
xrti
SKft&ft «*m#atalcs
Emm
Manhattan
tMlter*11*81
4S and 47 WALL STREET
CAPITAL,
Trust
$2,000,000.00
$13,856,570.83
MlRPLUS AND undivided profits
This Company acts as Executor,
Administrator, Gaardian, Trustee, Court Depositary and In
other recognized trust capacities.
■ .
It allows interest at Current rates on deposits.
It hold*, manage* and invest* tiftmeV, iftiwte* and other
property, real or personal, for sstatss
sorporattonr and individuals.
Company
_
Temporary Offices
113 BROADWAY
.
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pre».
NRY E. AHERN,
mil
“
Secretary.
T
WILFRED
ARIES A. EDWARDS, 2dl
J.’WORCESTER, Aset. SM OHA
Asst. Sec.
.
‘HHAH M hi HAMM.
r.sSw,
If . Bayard Cutting,
William Rockefeller.
B. Orr,
H. Macy Jr.,
D. Soane.
Frank Lyman,
James Stillman
John Claflln,
John J, Phelps.
_
Chaunoey Keep
ion;
n
L.
Wlnthrop
WALL STREET
CORNER NASSAU
it
I.
ni
*
i
Fidelity Trust Company
<
NEWARK, N. J.
Jhxc0txtxlattls.
LYBRAND,
ROSS BROS a
MONTGOMERY
Certified Publlo Accountants
(Pennsylvania)
NEW YORK,
165
Broadway.
PHILADELPHIA,
Land Title Bldg
PITTSBURGH,
Union Bank Bldg
CHICAGO, First National Bank Bldg
JAMES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York, Chicago, Cincinnati, and
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts as Executor, Trustee, Administrator and in all
fiduciary capacities.
Takes entile charge of Real and Personal Estates.
Guarantees Titles of
Real Estate throughout New Jersey.
General Banking and Savings Departments. Bond
Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
CENTRAL TRUST COMPANY
of NEW YORK
London, England.
54
AUDITORS
Wall Street
FOR
FINANCIAL
INSTITU¬
TIONS. INDUSTRIAL AND
MINING COMPANIES
Invert!* ations. Financial Statements,
Periodical A adits and Aorovntte*.
Capital and Surplus, $18,000,000
gtuanclal.
(of which $17,000,000 has been earned)
Adrian H. Muller & Son,
AUCTIONEERS.
Regular Weekly Sales
Authorized
Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on
Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under
to act
as
Mortgages.
OP
STOCKS and BONDS
EVERY WEDNESDAY
Office. No. 55 WILLIAM STREET.
Corner Pine Street.
CHARTERED 1864
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
THE AMERICAN MFG. CO.
Uptown Office : 425 Fifth Avenue, corner 8Sth Street,*
With Modern Safe Deposit Vaults
Capital $1,000,000
MANILA, SISAL AND JUTE
CORDAGE
65 Wall Street,
Slue
ALLOWS INTEREST ON DEPOSITS.
Act*
as
Executor, Gaardian, Trustee, Administrator end In alt
Fiduciary Capacities
en behalf ef
Individuals. Institutions or Corporations.
^
New York
•
Jucjcoutxtatxt
P. O. BOX 17. MAIN
OFFICE.
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE
ASSOCIATION OF
AMERICAN GOVERNMENT
CHICAGO
Capital and Surplus
$13,600,000
ACCOUNTANTS.
A MONTHLY MAGAZINE OF
INTEREST TO
ACCOUNTING AND FINANCIAL
OFFICERS
OF MUNICIPALITIES,
BANKS, RAILWAYS
AND OTHER PUBLIC
TIONS.
SERVICB CORPORA*
TO BE FOUND IN ALL LEADING
CERTIFIED
PUBLIC ACCOUNTANTS’
OFFICES,
Sample Copy Id cents. Par
Surplus (earned) $7,737,000
Annum $1 50
Pays Interest
on Time Deposits, Current and Reserve Accounts.
Deals In Investment Securities and
Foreign Exchange.
Transacts a General Trust Business.
CORRESPONDENCE
INVITED.
[Vob.
THE CHRONICLE
XIV
§inidiends.
gxtisl &omp«nits.
THE OTIS ELEVATOR
BANKCRS TRUST COMPANY
NEW YORK
7 WALL STREET,
Surplus and Profits, $6,295,000
Capital, S3.000.000
DIRECTORS
STEPHEN BAKER, President Bank of the Manhattan
Co., N. Y.
SAMUEL G. BAYNE, President Seaboard National
Bank, N. Y.
EDWIN M. BULKLEY. Spencer Trask & Co., Bankers, N. Y.
JAMES O. CANNON, President Fourth National Bank,
No Y
EDMUND C. CONVERSE, President, New York.
HENRY P. DAVISON, J. P. Morgan & Co., Bankers,
N. Y.
WALTER E. FREW, Vice-President Corn Exchange
Bank, N. Y.
FREDERICK T. HASKELL, Vice-President Illinois
Trust & Savings Bank, Chicago.
A. BARTON HEPBURN, President Chase National
Bank, N. Y.
THOMAS W. LAMONT, Vice-President First National
r
Bank, N. Y.
OATES W. M’dARRAH, President Mechanics and
Metals National Bank, N. Y.
j
EDGAR L.
LX.XX
MARSTON, Blair & Co., Bankers, N. Y.
GEORGE W. PERKINS,
J. P. Morgan & Co., Bankers,
COMPANY.
17 Battery Place, N. Y. City, Sept. 14, 1910.
The Board of Directors of The Otis Elevator
Company
has
declared a quarterly
this day
the Preferred
at this office
on October 15,
1910, to the Preferred Stock¬
holders of record at the close of business on
September 30, 1910. There will also be payable
on October 15, 1910, to Common Stockholders
of record September 30, 1910, the second Install¬
dividend of $1 50 per share upon
Stock of the Company, payable
ment of One and One-Half (1H%) Per Cent on
the Dividend of Three (3%) Per Cent declared
on the Common Stock on the 10th day of March,
1910.
LYNDE BELKNAP, Treasurer.
N. Y.
DANIEL E. POMEROY, Vice-President, New York.
WILLIAM H. PORTER, President Chemical National
Bank, N. Y.
DANIEL G. REID, Vice-President Liberty National
Bank, N. Y.
BENJ. STRONG JR., Vice-President, New York.
EDWARD F. SWINNEY, President First National
Bank, Kansas City.
GILBERT G. THORNE, Vice-President National Park
Bank, N. Y.
EDWARD TOWNSEND, President Importers’ & Trad¬
ers’ National Bank, N. Y.
ALBERT H. WIGGIN, Vice-President Chase National
Bank, N. Y.
SAMUEL WOOLVERTON, President Gallatin National
Bank, N. Y.
Stock of this company, payable October
to stockholders of record at the close of
1, 1910,
business
September 20, 1910.
COMMON STOCK DIVIDEND NO. 7.
The Board of Directors have this day declared
a dvldend of One Per Cent (1 %) upon the Common
Stock of this company,
payable October 1, 1910,
at the close of business
to stockholders of record
September 20, 1910.
F. S. JEROME, Treasurer.
UNION TYPEWRITER COMPANY
E. C. CONVERSE. President.
D. E. POMEROY, Vice-President.
F. N. B. CLOSE, Secretary.
H. F. WILSON JR., Asst. Sec’y.
B. STRONG JR., Vice-President.
F. I. KENT, Vice-President.
H. W. DONOVAN, Treasurer.
THE UNITED STATES FINISHING COMPANY.
320 Broadway, New York, Sept. 15, 1910.
PREFERRED STOCK DIVIDEND NO. 45
The Board of Directors have this day declared
the regular quarterly dividend of One and ThreeQuarters Per Cent (1^%) upon the Preferred
fgioattcial.
New York City,
September 15, 1910.
this day declared
The Board of Directors have
the regular semi-annual dividend of Three and
One-Half Per Cent (3H%) on the First Preferred
Stock and a Four Per Cent (4%) dividend on the
Second Preferred Stock, payable October 1st,
1910, to stockholders of record at
ber 17,
noononSeptem-
1910.
GEORGE K. GILLULY,
Secretary.
CONTRACTORS
Bids
(ftjetxlral
fjaticnml g atilt
at fjjew
Utrelt
invited
are
for
equipment and operation of the TriBorough Subway and Elevated System
of New York City, comprising about 44
miles of line, to be opened October 20,
1910.
Bids
are
also invited for construction
only, with municipal money, to be
opened October 27, 1910. Bids may be
made for one or more of the sections into
390 BROADWAY
which the construction work has been
Edwfta S. Schenck, President
Francis M. Bacon Jr.. Vice-President "
Albion K. Chapman, Cashier
Jesse M. Smith. Asst. Cashier
Janies McAllister. Asst. CaahiSf
W. M. Haines. Asst. Cashier
concerning full details,
including forms of contracts and plans.
or
call
PUBLIC SERVICE COMMISSION
FOR THE FIRST DISTRICT,
154 Nassau
12,550,000
Capital
Surplus and Profits $1,600,000
50 CHURCH STREET
New York,
quarterly dividend of One and Three-Quarters
on the Preferred Stock of this
Company, payable October 15, 1910, to stock¬
holders of record at the close of business October
1st, 1910.
Checks will be mailed by the Standard
Trust Company of New York.
WM. A. KERR, Asst. Treasurer.
a
Per Cent (lh%)
OFFICE OF
SMELTING & REFINING CO.
N. Y. City, Sept. 7, 1910.
QUARTERLY COM. STOCK DIVIDEND NO.28
AMERICAN
165 Broadway,
Traction Co.
hundred and twenty-nine
($329,000) par value of bonds
In addition to Three
thousand dollars
deposited with THE NEW YORK TRUST CO.,
26 Broad Street, New York City, One hundred
fifty-two thousand dollars ($152,000) are
deposited in Chester, Pennsylvania, under an
agreement to act In concert with this Committee,
making Four Hundred and elghty-one thousand
dollars ($481,000) par value out of the total Issue
of Seven hundred and forty-nine thousand dollars
American Smelting & Re¬
fining Company have this day declared a dividend
of One Per Cent on the Common Capital Stock of
the Company, payable Oct. 15, 1910, to stock¬
holders of record Sept. 30, 1910.
The books of
the Company for the transfer of Common Stock
will be closed at three
o’clock
p.
m..
Sept. 30,
1910, and will be reopened Oct. 7, 1910.
W. E. MERRISS, Secretary.
Street, New York City
Sedalia Light &
September 14, 1910.
this day declared
The Board of Directors have
The Directors of the
divided.
Write
Pa) As-You-Enter Car Corporation
construction,
MERGENTHALER LINOTYPE COMPANY.
New York, September 13, 1910.
At a meeting of the Board of Directors held this
day a regular quarterly dividend of two and onehalf per cent was declared, payable on and after
September 30, 1910, to the stockholders of record
Saturday, September 17, 1910, at one o’clock
P. M.
The transfer books will close on
tember 17, 1910, at one o’clock P.
on
Saturday, Sep¬
M., and reopen
Saturday, October 1, 1910, at 10 o’clock A. M.
FRED’K J. WARBURTON, Treasurer.
and
$25,000
JAMISON COAL & COKE CO.
(George's Creek Coal & Iron)
1st
Mortgage Sinking Fund 5s, due 1930
Price 88& and
Circular
i
en
interest
application
($749,000).
deposit of these bonds has
SEPTEMBER 27TH, after which
they will be received on terms, at the discretion
The time for further
been extended to
of the Committee.
Dated September 13th, 1910.
OTTO T. BANNARD,
]
HERBERT K. HALLETT, ^Committee.
ROBERT T. SHELDON
J
FRUIT
COMPANY
DIVIDEND NO. 45.
A quarterly dividend of two per oent on the
capital stock of this company has been declared,
payable October 15, 1910, at the office of the
Treasurer. 131 State Street, Boston, Mass., to
stockholders of record at the dose of business
September 27, 1910.
CHARLES A. HUBBARD, Treasurer.
Office of the
LANSTON MONOTYPE MACHINE COMPANY.
Philadelphia. Pa.
The Board of Directors has this day declared
quarterly dividend of 1 X 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.
a
DANIEL BURKE, Counsel.
COLSTON, BOYCE & CO.
BALTIMORE, MD.
UNITED
J. SELLERS
^iaidzn&s.
BANCROFT,
Treasurer.
Philadelphia, September • 1919.
OFFICE
OF
VIRGINIA-CAROLINA CHEMICAL COMPANY.
Richmond, Va., September
MUNICIPAL BONDS
Legal for New Jersey, Connecticut
and New Jersey Savings banks, and
executors and trustees of estates,
Yielding from 4.10% to 4.70%
B. M. GRANT & CO.
BANKERS
SI NASSAU STREET
NEW YORK
13, 1910.
DIVIDEND NO. 60.
The Board of Directors have this day declared a
dividend of TWO (2%) PER CENT, the same be¬
ing consecutive Quarterly Dividend No. 60, on the
preferred stock of this company, payable October
15, 1910, to stockholders of record at the close
of business September 30, 1910.
Transfer books
will be closed from 3 P. M. September 30, 1910,
to 10 A. M. October 17, 1910.
S. W. TRAVERS, Treasurer.
THE
UNION
BAQ
&
PAPER
Checks will be mailed.
COMPANY.
46TH QUARTERLY DIVIDEND.
17 Battery Place, N. Y., Sept. 10th, 1910.
A dividend of 1 % on the Preferred Stock of the
Union Bag & Paper Company has this day been
declared, payable Oct. 15tn, 1910, to stockholders
of record at the close of business Sept. 30th. 1910.
||C. R. McMILLEN, Secretary.
THE AEOLIAN. WEBER
^PIA NO & PIANOLA
At a meeting of the Board of Directors held this
day the regular quarterly dividend of ONE AND
THREE-QUARTERS (1 X%) PER CENT was
declared upon the Preferred Stock of the Com¬
pany, payable the 30th Inst, to stockholders of
record Spetember 24th, 1910.
WILLIAM E. WHEELOCK, Treasurer.*
September 14th, 1910.
THE AMERICAN MANUFACTURING CO.®
65 Wall Street, New York, Sept. 15, 1910.
A dividend of one and one-hair per cent (1 X%)
has been declared on the stook of this Company
payable Oct. 1st, 1910, to stockholders of record
September 15th, 1910.
W W. CHILDS, Secretary.
Sept. 17 1910.J
THE CHRONICLE
glwtfimds.
Qvust ©orroyalties.
NEW YORK & HARLEM RAILROAD CO.
Treasurer's
CHARTERED IN 1830.
Office,
New York, September 14th, 1910.
The Board of Directors of this Company has
declared a dividend of ONE AND ONE-HALF
PER CENT (1 H%) on the Preferred and Common
Stock, payable on the first day of October next to
stockholders of record at the close of business on
Monday, the 19th day of September, 1910.
MILTON S. BARGER, Treasurer.
NEW YORK LIFE INS. & TRUST CO.
52 WALL
Accepts Trusts created by will or otherwise. Manages
Agent for the owners. Allows interest on deposites payable
after ten days’ notice.
Legal Depository for Executors,
Trustees and Money in Suit.
Property
BANGOR RAILWAY & ELECTRIC CO.
Bangor, Maine, September 13, 1910.
The Board of Directors of the Bangor Railway
it Electric Co. has declared a quarterly dividend
of One and One-Half Per Cent upon the Capital
Stock, payable October 1st, 1910, to stockholders
of record at the close of business September 15th,
1910.
Checks will be mailed.
HOWARD CORNING, Treasurer.
of
STATEMENT
the
Showing its Condition
St. Joseph. Missouri,
PREFERRED DIVIDEND NO. 32.
The Board of Directors has declared the regular
quarterly dividend of One and one-quarter per
cent upon the Preferred stock, payable October
1st, 1910, to stockholders of record at the close of
business September 15th, 1910.
Checks will be
mailed.
G. L. ESTABROOK, Secretary.
45th Consecutive Dividend
MECHANICS’ TRUST COMPANY
OF NEW JERSEY.
Bayonne, N. J., Sept. 8th, 1910.
At a meeting of the Board of Directors held
this day, the regular quarterly dividend of
5%
on the paid-in
Capital Stock of the Company
was declared, payable on the first
day of October
next to Stockholders of record at the close of
business Sept. 28th Instant.
Transfer books will be closed at 3 P. M. Septem¬
ber 28th and reopened at 9 A. M. October
2nd,
1910
WM. R. WILDE, Treasurer.
Knickerbocker trust Company
New York, Sept. 13, 1910.
„
The transfer books will be closed
on
J
-
--
—
Overdrafts,
secured
Real estate...
Due from trust companies,
and bankers
banks
Legal-tender notes and notes of
tional banks
Other assets, viz.:
Accrued Interest entered
Repairs 52 Wall Street
Suspense
20.613.499 71
56.937 51
2,545,028 89
1,048.348 60
5.300.000 00
Specie
na¬
200.000 00
530,132 69
117,894 87
434,271 12
account
the 31st day of August, 1910.
LIABILITIES.
Capital stock..
-51,000.000 0#
Surplus, Including all undivided
profits
3.936.37116
Preferred deposites
2,890,475 30
Deposites (not preferred)
31,919 449 70
Due trust companies, banks and
bankers
140,902 28
Certificates of deposit (not preferred) 4,142,159 60
Total Deposites.$39,092,986 83
Other liabilities, viz.:
Life Insurance
9382.373 52
Annuities
2,263,129 53
Reserved for Taxes
30,000 00
Contingent account
551 50
Accrued Interest entered
382,255 37
General account Interest.
423,521 11
947,516,189 02
HENRY PARISH, President.
WALTER KERR, 1M Vice-President.
HENRY PARISH JR., 2d Vice-President.
ZEGER W.
van ZELM, Ass’f Secretary.
IRVING L. ROE. Ass't Secretary.
J. LOUIS van ZELM. Ass't Secretary.
JOHN O. VEDDER. Ass't Secretary
S. M. B. HOPKINS, id Vice-President.
GEORGE M. CORNING. Secretary.
Fri¬
TRUSTEES.
Charles G. Thompson,
Henry Parish.
Frederic W. Stevens,
Stuyvesant Fish,
Edmund L. Baylies,
George S. Bowdoin,
Henry C. Hulbert.
Henry A. C. Taylor.
American Woolen Company
Forty-Sixth Quarterly Dividend
Notice Is hereby given that the regular quar¬
terly dividend of One and Three-Quarters Per
Cent (lJi%) on the Preferred Capital Stock of
the American Woolen Company of record
Sep¬
tember 23, 1910, will be paid on the 15th
day of
C. 0*D. Iselin,
W. Emlen Roosevelt,
H. Van Rensselaer Kennedy,
John Jacob Astor,
Joseph H. Choate,
Samuel Thorne,
John L. Cadwalader,
Augustus D. Juilliard,
Henry Lewis Morris.
Transfer books for Preferred Stock will be
closed at the close of business September 23,
1910,
and will be reopened October 7, 1910.
TRUST COMPANY
Checks will be mailed by the Guaranty Trust
Co. of New York.
Fifth Ave. & 34th St.
Lenox Ave. & 125th St.
Jr., Treasurer.
Boston, Mass., Sept. 12, 1910.
60
STATEMENT OF CONDITION WEDNESDAY,
Cash on Hand and In Banks.. 58,306,719 20
Bonds and other Securities
10,501,759 45
Demand Loans.
4,267,407 62
Time Loans
11,851.480 71
Bonds and Mortgages
3,394,225 08
Real Estate, Banking Houses.
3.444,816 19
Accrued Interest Receivable.
339,300 52
Telegraph Company
NEW YORK, September 14th, 1910.
—
DIVIDEND NO. 166.
quarterly dividend of THREE-FOURTHS
OF ONE PER CENT has been declared
upon the
Capital Stock of this Company, payable at the
offloe of the Treasurer on and after the 15th
day
•f October, 1910, to shareholders of record
at the
close of the transfer books on the 20th
day of Sep¬
tember, 1910.
For the purpose of the Annual
Meeting of
Stockholders, to be held on Wednesday, the 12th
day of October next, the stock transfer books will
be closed at the close of business on the 20th
of September Inst., and be reopened on day
the
morning of the 13th day of October next.
A. R. BREWER, Treasurer.
A
_
Capital Stock
Surplus and Undivided Profits
Unconverted “B” Certificates.
53.181,000 00
5,769,128 47
57,000 00
Total Capital and Surplus.. 59,007,128 47
Depositors
32,846,945 04
Dividend Checks Outstanding.
450 00
Reserved for Taxes, &c
85,496 26
Accrued Interest Payable
165.689 00
$42,105,708 77
CHARLES H. KEEP, President
DIRECTORS
BENJ. L. ALLEN
G. LOUIS BOISSEVAIN
FREDERICK 0. BOURNE
FRANKLIN
BROWN
ILLIAM A. TUCKER
EDWARD H. CLARK
LEWIS L. CLARKE
H. RIEMAN DUVAL
CHARLES F. HOFFMAN
J. HORACE HARDING
WILLIAM B. JOYCE
CHARLES H. KEEP
SAMUEL T. PETERS
PAYNE WHITNEY
Managers
**The board of directors of the OKLAHOMA
GAS & ELECTRIC COMPANY 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
Illinois: gmretp Company
Office,
Homo
Managers
WRITES ALL CLASSES SURETY BONDS
The board of directors of the
MUSKOGE
GAS & ELECTRIC COMPANY of
Muskoge*
Oklahoma, has declared a quarterly dividend <
One and Three-Quarters Per Cent
(1 H%) upo
the preferred stock of this company,
payable b
check September 15th. 1910, to
stockholders t
record as of the close of business August
31st, 191C
ROBERT J. GRAF, Assistant
Court—Fidelity—Contract—Miscellaneous
The motto of the Illinois Surety
Company Is “Prompt Service*1
both In the handling of its business and the
Secretary.
DULUTH EDISON ELECTRIC CO.
Duluth, Minn., September 15, 1910.
DIVIDEND NO. 18.
The regular quarterly dividend of 1
H% on tl
Preferred Stock of the Duluth Edison Electr
Company has been declared for the quarter endli
August 31, 1910, payable on the first day <
October, 1910, to all stockholders of record <
Preferred Stock at the dose of business on tl
21st day of September, 1910.
The transfer bool
will not dose.
0. E. VAN BERGEN,
Secretary.
206 La Sallo Street
CHICAGO
Offloe of
H. M. BYLLESBY As COMPANY
Chicago
1910.
Due
H. M. BYLLESBY & COMPANY
Engineers
AUGUST 31ST,
LIABILITIES.
$42,105,708 77
Office of
Chicago
Broadway
Third Ave. & 148th St.
ASSETS.
Engineers
George G. De Witt,
Cornelius Vanderbilt,
John McL. Nash,
John Claflin,
Cleveland H. Dodge,
Thomas Denny,
Lincoln Cromwell.
Paul Tuclcerman.
KNICKERBOCKER
October, 1910.
on
147,516,189 02
day, September 23, 1910, at 3 o’clock P. M., and
reopened Saturday, October 1, 1910, at 10 o’clock
A. M.
HARRIS A. DUNN, Secretary.
WM. H. DWELLY
at the Close of Business
RESOURCES.
Bonds and mortgages
53.847,574 80
Stock and bond Investments, viz.:
Public
securities
(book
value
92,069,280 00), market value.. 1,949.080 00
Other
securities
(book
value
510.217,262 24), market value.10.873,421 33
Loan»
The Board of Directors has this day declared a
quarterly dividend of Three Per Cent on the Capi¬
tal Stock of the Company, payable
September 30,
The Western Union
as
A00EPTS ONLY PRIVATE TRUSTS AND DECLINES ALL
CORPORATION
OR OTHER PUBLIC TRUSTS.
ST. JOSEPH RY., LIGHT, HEAT & POWER CO.
1910.
ST., NEW YOrtK.
Grants Annuities.
Office of the
Office
IT
adjustment of its losses
Office of
THE UNITED GAS IMPROVEMENT CO.,
N. W. Corner Broad and Arch Streets,
Philadelphia. September 14, 1910.
The Directors have this day declared a quarrly dividend of two per cent (91.00 per share)
lyable Oct. 15, 1910, to stockholders of record
the dose of business Sept. SO, 1910.
Checks
111 be mailed.
LEWIS LILLIE, Treasurer.
,
OFFICE
HOMESTAKE MINING CO.
15 Broad St., New York, Sept. 14th, 1910.
DIVIDEND NO. 450.
Dividend No. 430 of Fifty (50) Cents per share
has been declared, payable at the Transfer
Agency In New York on the 26th Inst.
Transfer books close on the 20th Inst.
T.OTTNSB13RY A OO.. Transfer Agents.
[Vow. bxxm
THE CHRONICLE
financial.
v*:-
.•«“]•
"V~.y
,>-»*• y*«> •'•
Issue of
$3,000,000
454% Gold Bonds
First Mortgage Equipment
i
Series “V"
Issued by
THE IMPERIAL ROLLING
Guaranteed
CANADIAN
as to
STOCK COMPANY, LIMITED
Principal and Interest by the
NORTHERN RAILWAY COMPANY
Due $300,000 each
November 1, 1911 to 1920, inclusive.
Dated May 1,1910. Denominations $500 and $1,000, with provision for registration of principal.
Interest payable 1st of May and November at Canadian Bank of Commerce, Toronto,
New York, and London, England. Principal payable at Toronto and New York.
These bonds
are
issued against only 75%
of the cash contract cost of the equipment and
advantage of a direct first mortgage lien on the pledged equipment.
In addition
rolling stock are deposited with the Trustee until the payment of the last
maturing bonds, with all accrued interest.
They are further secured by the endorsed, guaranty of the Canadian Northern Railway
Company, all of whose outstanding railway and terminal bonds are guaranteed by the Dominion
have the
the titles to the
or
Provincial Governments of Canada.
The Canadian Northern Railway comprises a system
Its annual
of about 3,300 miles in Western Canada .
report shows net earnings of about twice bond interest, including interest on equip¬
ment bonds.
Having sold about two-thirds of this issue privately,
we
offer the unsold maturities as below,
$25,000
Nov. 1, 1912
“
1913
“
“
1914
,
1915
250,000
225,000
...100,000
Nov.
1, 1916
$100,000
“
1917
“
1918
“
1919
150,000
250,000
150,000
AT PRICES TO
NET 5%
Wm. A. Read & Co
Members of the New
York, Chicago and Boston Stock Exchanges
25 Nassau Street, New
19
Gongiess Street
BOSTON
203 East German Street
BALTIMORE
York
240. La* Salle
Street
CHICAGO
5
Lothbnry, E, O.
LONDON;
INCLUDING
Bank &
Quotation. Section
Railway Earnings Section
VOL. 91.
Railway & Industrial Section
Electric
Bankers* Convention Section
State
SATURDAY, SEPTEBMER 17 1910.
1910.
PUBLISHED WEEKLY.
Terns of
Subscription—Payable in Advance
For One Tear
For Six Months
♦10 00
6 00
-
European Subscription (Including postage)
13 00
European Subscription *ix months (including postage)
7 50
Annual Subscription in London (including postage),,
£2 14s.
Six Months Subscription hi London (Including postage)
£1 li s.
Canadian Subscription.(including postage)
$u so '
Subscription includes following Supplement*—
Bank and Quotation (monthly)
j StATB and Crrr (semi-annually)
Railway and Industrial (quarterly) I Electric Railway (3 tunes yearly)
Railway Eabmnuc {monthly)
j Bankers* convention (yearly)
Terms of
Advertising—Per lack Space
transient matter per inch mace (14 agate lines)
/Two Months
(h times)
$4 20
Ht&ndimr
29 00
50 00
22 00
) Three Months (13 times)
standing Busmen oaves <
g«x unmtba
<26 times)
\ Twelve Months (52 times)
87 00
OHIGAOO OFFICE—Pliny Bartlett,UXMonadnoek Block; TeL Harness 4012
LONDON OFFICE—Edwards A Smith, 1 Drapers’ Gardens, E. c.
WILLIAM B. DANA COMPANY, Publishers,
JP. Q. I'ox 938.
Frsnt. Pine and Pepeyster Sts.,
New York.
Published every Saturday mornin r by WILLIAM B. DANA COMPANY
William B. Dana, President; Jacob Seibert Jr., Vice-Pres. and See.; Arnold
G. Dana, Treat. Addvessea ol aU, Office of the Company.
'
1
111
CLEARING-HOUSE RETURNS..
The following table, made up by telegraph, So., Indicates that the total
bank clearings of all clearing houses of tho united States for week ending
to-day have bom 52,750.742.447, against 42.125,404,725 last week and
54.541,054,414 the soxrespondlng week last year.
Clearing*—Helmut fig
Week swung sept. 17.
Per
Cent.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Columbus
Toledo....
Peoria
...
sga&s
Evansville
Kalamazoo
...
Qulney
829,680
131.691
898,513]
Tot. Mid. West.
San Francisco..
Los Angeles..
Seattle
Portland
Spokane...
Salt Lake City..
51458.967487
—28.7
—11.9
—11.7
Taeoma
118402.909
105469415
26438415
204453.626
58483.497
12499423
51.766469.091
134,133.115
119465,238
22.358.148
210410413
58414,302
14,582485
+174
Sacramento..
San Diego
Seven cities, live days..
Other cities, five days....
51.784415472
494416408
52426433.392
470,108,916
—234
+5.1
Total aB cities, five days
All cities, one day
32479.131480
501,611487
52,796.142.308
735422.510
—18.5
—314
Philadelphia
Baltimore
Chicago
......
.........
Total all cities Jot
32.780.742,667
53.631,964418
-04
—0.6
—11.5
—21.3
The full details for the week covered by the above will be given next Sat¬
urday. We cannot furnish them to-day, dealings being made up by the
eleanng houses at noon on Saturday, and hence m the above the last day
of the week has to be In all esaow estimated, as we go to press Friday night.
We present below detailed figures tor the week ending with Saturday,
noon.
September 10, for four yearn.
Oakland........
Helena
I91fi
1900.
fM.tr
Dee.
1008.
1907.
%
New York...
Philadelphia.
Pittsburgh...
Baltimore...
Buffalo...
Albany.
Washi ngton
Rochester
Scranton.
Syracuse
_
::::
...
:::
....
Wwulln|r
Wilmington.
_
Wilkes-Barre
Wheeling
...
Harrisburg
..
Trenton
1,104.714,707 1476.605.850 —29.8 1,800480483 1440.945496
KM .392.125
103,036,988
102,170.337 138.744.501
+2.4
46.525,609
—04
89461,967
30400.481
85467484
24454.502
26,097432
22,336,732 +18.0
16,780.900
7,704.444
7.154.486
7.944,341
+8.0
6452,356
4.484,005
4.360.445
5,373.572
+2.6
4.344.738
5,704.604
5.700.168
5.582,744
+2.2
4,442,632
3.074,118
3,138,616
3433.520 —4.6
2,799470
2.170471
2,027,401
2.015438
2.020.893
+7.7
2.307437
1447407
1.734.715
+7.7
1431.679
1.1404301
1,289.026
-0.1
1454,751
1,077,337
1.180410
1.154.749
973,471
+54
1,118.794
1408,648
1.118.476
1,180456
+8.1
1,034,396
1478.979
1,326.488
1431.505 +114
1422.937
1,166.759
978,097
1.164,781
+0.2
794,052]
1,194451
1.103.533
1432,6361
789,3801
844,051
816413
683,710
669,044
607,609
+34
610.926
—18.1
620,546
640,078
530.000
612.000
—0.0
518,500
401400
673,400
484490
462476
+44
403.899
455,005
385,139 +11.2
414.981
275,000 —4.1
261.786
290423
=a
York
Erie
—.
Greensburg
..,
Binghamton
.
Chester
Altoona!
Franklin
.....
M
K
Total Middle.. 1,315474,143 1478.030,063
Boston ........
Providence -....
Hartford .......
New Haven
104,015.124
4.004.400
2.766,654
2,058.504
Springfield..
Portland ......j
Worcester
Fall River
New Bedford
Lowell
i
—
896,100
663426
898.762
...
459,995
—
Holyoke
hr
Total New Eng
1,708,558
125.817.088
—264 1,486,403400 1488405,518
—6.0
112,787.463
—5.7
5,198,600
—04
2,790,680
—2.1
2.102,850
1.580.000
+8.6
1450,552
+44
1434.582 +38.4
748.004 +10.8
833,840 —20.6
576,168
+64
431,638
+6.6
118449486
6.456.400
2.389.400
1482,092
1,434,108
1.183,886
638,617
574.621
439.069
897.093
142.500.754
6.447400
3417.176
2,717.381
2.097,124
2.082.757
1,477,625
927.798
876.802
544.146
489422
120.733.867
184.169427
163.478.684
1.6
1,525456
„
»
913,639]
Mlnnuupftllii
L137.976
1474.045
1466,126
Sftgg
625.530
553482
298481
Tot. oth.West.
123,545410
67.968.863
15.809479
10425,456
15.041,656
7497400
5.744,713
5,099,785
6,542,360
Fort Worth.....
Atlanta
Memphis
Nashville
7,349402
3,535,852
2440460
Norfolk
2,300,431
........
Birmingham
Augusta
Jacksonville
1,886,821
1466.943
2,013.960
...^
....
Chattanooga
1463,418
...
Charleston...
Little Rook
1.356,470
1.119.054
2454.518
1425,947
1445.002
Austin
1464.763
Knoxville
Mobile
Oklahoma
—....
Macon
Beaumont
833455
600,000
202,796
413486
237,493
300.000
.....
Vicksburg
Wilmington N-C
Meridian
Jackson.
.......
Total Southern
Total all
...
Outside N. Y
■i
n
3.858415
6484411
5.072453
1449.691
379.972
430,000
442.982
821,464
325.000.
273.175
108.886
267.446
10,777
229400
tifl
+194
+10.0
—8.2
+54
+41.7
—4.6
+46.6
157,031,581
+164
+24.5
+50.7
+5.0
+4.4]
—20.8
13.166,036
10.014,602
7,170.794 +16.0]
—0.4
5,540.427
8457.751 + 13.0
2,510,586 +134
2,512.679 +25.8
3.457.962 +10.9
1.421J42 —204
+74
1482.899
U.840
738,706
725,000
666.550
628.622
1.999*
1.217,
1,093,184
1,012,655
804,485
655,000
-
638489
502.360
568470
gsa
564446
430.468
493,425
380437
363413
313,419
92,663
"20405
307400
—3.0] £8&464,928
+13.8
26,668.618
349,74*431
38431490
*471.7341 11449,774
9.179452
10,804.073
6,978,627
2.983.153
8430472
3,666402
t,477.692
.827473
6423.674
4,958472
1,220,824
720406
702,107
547400
67,384,231,
Colorado Springs
Pueblo
Fremont
...
7.323.710
m49fl
492
35.727.517
900.000
St. Louis
New Orleans....
Louisville
Houston
Galveston
Richmond
Savannah
30.862,006
0,441.096
11.340,927
514,334
543,487
.588.986
+8.9
+9.3
+17.8
—194
2440400
.......
+19.5]
mr
6404
+ 104
3,160404
3,834441
SSSm.-:::
+ 12.1
-
80.403,952
43.724.055
18.536,941
5.518.809
3,567.431
...
+74,
—14.4}
3,520.810
9184
787,860
576.326
694.fi
88.640,640
47.628,681
20462.331
15.515.906
8417.001
..i,..
+is.r
-
+134
8.088.702
Wichita
+27.6
14,617475
11.953462
7.189400
1.670.219,
455.000
505472,
Omaha.......
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
+19.1
+25.1
17425.641
142145?
515.000
766.978
....
tSfl
242475.518
25498.450
6,899424
450.000
125.471
611.968
«• tm
+67.1
1907.
10493456}
852.180
988.522
491,732
508424
481.768
431495
158.478
1.147.940
Total Pacific
Kansas City
Duluth
Clearings
871.468
1449405
rmungw
Topeka
Lincoln
Week ending Sept. 10.
323*961445
Stockton
Fresno
San Jose
North Yakima..
+28.3
+14,6
23.065 +29.2
855.549
+24
—24
431.864
Not included IjOt total
314495.163
35.734.625
10474401
9.998.576
8J35424
4445,967
5.127423
5.334.499
2445.323
.......
Pancdnno
j£‘4MKavM3U^aw
+15.4.
519.423
385480
355413
341450
385422
117.520
333.551
365.000,
Saginaw
Laming
+884]
844487
423413
490.920
...
906,913
,546
403,580
29,789
863494
421460
—3.8
056418]
533414
546,175
5Q3.r
650,1
Decatur
Mansfield
Jackson
Jacksonville
Ann Arbor..
Danville
Adrian
Lima
+94
+24.5
+20.7
+21.6
+2.4
+14A
571430
413449
827472]
South Bend.....
1909.
Boston
683,970
654,914
690460
......
4483400
3.061.019
2.197.691
1.733485
+18.9
606.000] +354]
•_
1910.
New York
1.709476
074474
Lexington
Springfield, O...
Canton....^...
Bloomington
—12.0
1,923,408
1,256426
1.0894211
....
198.175.620
20.433400
12.493,984
10,988.694
2,105440}
1,650.422
1486.960
1908.
-84
231.755,967
21.565.800
+2.1
13444.087 +144
12,217.096 +13.5
10,159440
+84
7.150.638
5,295.700
3430.975
2,607491
1.850,837
.....
Inc. or
Dec.
1909.
212,440.041
22,012,600
15453.067
13473,187
11400.000
8.499434
4,659,400
3,530,909
3447,034
244144
2.007,04
Springfield, HI
Youngstown
Fort Wayne
Akron
Rockford
NO. 2360,
Week ending Sept. 20.
Clearings at-
St. Louis
New Orleans
Railway Section
and City Section
+3L4-J
—7.41
—6.3
—64.6
-64
+4.7
449,506
620,000
480464
448471
267465
568,461
162,339
22437,156
10,877436
7,563.115
6,631,101
4424,559
2,495.736
2.013472
1431,538
998446
1,055.712
889460
681.869
676400
620,000
718,074
88.116407
38411.484
25472,442
12489.476
8482442
9440,175
5,638428
3458.613
2,405,123
149444*
1490.502
1,157423
1423,553
754,333
§20.947
665.000
812451
636.010
420413
390449 —23.6
331,756
+7.7
—4.0
09.695427
+234
+74
+31.3
+344
12.405,578
8450450
+ 1.5
—26.7
6470.650
117.472.044
S7.972.959l
12.836470
0,554444
11.475.452
5,436,000
5.658.774
6,061,615
5,417.687
62427433
10,423,720)
6.046.000
114473463
65456.860
16.655483
114U464
14,072.696
7484400
7.097,655
+3.6
+10.1
5,562.023
5,004488
4.727.718
3.555.506
3429,068
3480,953
2464433
—10.7
2.669,681
4.802,024
+6.3
+5.6
1,624,280
2428448
2,132424
3412,450
1,785,074
2475.458
1.539.133
1464437
1438.905
1484.031
1.850,000
1436.718
+2.3
1,677441
"’'48.8
1412413
+30.9
+21.0
1414,050
1411491
1,204.872
+9.5
—104
+27.3
+74
941400
900,000
918441
918,635
628.925
1,517,505
880434
025,000
636460
204,633
429,065
103402
344,000
—11.4
—12.8
266,565
148,771437
+5.6
129489,404
+65.3
—0.0
—6.7
—0.9
—2.5
+23.1
6,022.787
3.664461
4.448.748
8.654436
1,916402
1,563,714
1.479.014
1,496405
1458,777
933.105
1427419
1.181426
611,062
707,779
420400
267,530
350,000
429,734
541,691
161.932.566
2.125.604,725 2,578474.008 —13.7 2498407,626 2.765.448464
'1.018448418 1.001.768468
""i
iii'iiw
+1.7
898.027.343 1.124.602472
“rnmmnrniil and Mlssalaatnm News.”
THE CHRONICLE
674 }
Increases in expenses are now
outrunning the gains
in gross earnings in the case of United States railroads
—speaking of the roads as a whole—and as a conse¬
undergoing contraction. This
tendency is very clearly revealed in the compilations
which we present to-day for the month of July (the
first month of the new fiscal year) and comment on in
a separate article on a subsequent page.
Some roads
are still able to report improvement in net, but not
many.
The returns of the separate roads will all be
found (together with full details of both earnings and
expenses) in the special supplement called our “ Rail¬
way Earnings Sectionwhich we send to our sub¬
scribers with to-day's issue of the “Chronicle.” This
supplement gives the figures of every operating steam
railroad in the United States, big and little, which
makes monthly returns to the Commission—over 800
companies altogether, covering more than 237,000
quence
net earnings
are
There
—*
■
1
-
THE FINANCIAL SITUATION.
lxxxxi.
believing, however, that the
no small part to the fact that
the country is getting tired of the rampant radicalism
of the Republican leaders and those at the head of
seems
reason
for
outcome has been due in
the Federal Government.
The effect is in any event
certain to be salutary. It is assumed that the result
in Maine foreshadows a Democratic House of Repre¬
sentatives at the coming election, and that this will
an end to further new legislation of a type so
destructive to business interests and which has been
put
acting
deterrent
enterprise for many months.
when Democratic success, or the prospect of
it, was looked upon as occasion for anxiety and alarm,
for until the advent of the Roosevelt regime the course
of the Republican Party had been marked by much
the greater conservatism.
Now the feeling is that,
even if the Democrats should
champion radicalism,
they could not possibly go any further in that direc¬
tion than the Republicans have already gone, while
there is at least a chance that they might not go as far,
particularly as the doctrine of State's rights, which
Time
is
miles of road.
[Vol.
as a
upon
was
cardinal feature of the Democratic creed,
ical to the extension of Federal activity.
a
One view is that with
is inim¬
Democratic
Congress and
perceptibly im¬ a Republican President there would be a political dead¬
proved the past week:? The stock market early in the lock, thus frustrating legislative schemes of all kinds.
week reflected this better feeling, but latterly has again We prefer to base our reasons for
rejoicing on broader
evinced a sagging tendency. ; There is, it seems to us,
grounds. To us the Maine result looks like a direct
good reason for greater confidence, particularly as far rebuke to radicalism and an indication that the tide
as. the political developments are
concerned. The has strongly turned against it. Democrats in the
political upheaval in Maine has come as an eye-opener East have always been much more conservative than
and must be accepted as one of the signs of the times. those of the
West, and in the present instance the
The dominant party in that State has been completely whole
people of the State of Maine were deeply inter¬
routed. In the election on Monday the Democrats ested in
seeing a rein placed upon the legislative
for the first time in thirty years made a clean sweep of follies of the
day. Take the case of the Railroad Law
the State. They elected their candidate for Governor,
passed at the late session of Congress, so inimical to
Frederick M. Plaisted, by a plurality of 8,945 over the railroad interests because of the extension of the
Republican candidate, Governor Bert M. Fernald, powers of the Inter-State Commerce Commission. To
who when he ran in 1908 had a plurality of 7,653, the
superficial it may seem as if this were a matter
which even then was the smallest Republican plurality in which the Maine electors had
very little concern,
in many years. This is the first time Maine has elected but note that there are
228,205 persons having money
a Democratic Governor since 1880, when Harris M.
on deposit with the savings banks in that State, and
Plaisted, the father of the present successful Demo¬ that of the aggregate savings deposits of $88,557,027
a
The tone in financial circles has
cratic
candidate,
elected Governor. Not alone held in 1909, no less than $45,078,610 was invested
gain the Governor's chair, but they in the securities of steam railroads. In other words,
have elected two of the four Congressmen (wi h the over
50% of the investments of the Maine savings
other two districts very close and one of them indoubt), banks are
put in jeopardy by the new railroad legis¬
together with 111 members of the Legislature against lation, which threatens to impair the earning power of
69 elected by the Republicans, thereby ensuring a the roads and the
standing and stability of investments
Democratic successor to United States Senator Eugene in the same.
Hale. In the present Congress the Republicans hold
Is any one prepared to question that the 228,205
the whole four seats, and they of course have long
depositors in that little State—where the average of
was
do the Democrats
had control of both branches of the State
Legislature, intelligence is high and where public questions excite
Legislature^ having consisted of only 59 wide discussion—understand how this new piece of
Democrats against 123 Republicans.
railroad legislation is acting contrary to their inter¬
There can be no doubt that this political revolution ests and
may ultimately cause the loss of a part of
in Maine is to be favorably interpreted, and there is their
savings? And is it taxing credulity to think
additional reason for gratification in the fact that the
that, realizing this, they proceeded to register their dis¬
Democrats in New Jersey on Thursday of this week satisfaction with the
political party responsible for
nominated for Governor a man of the calibre of Presi¬ such
legislation? The Democrats in Maine had good
dent Woodrow Wilson of Princeton University. The
candidates, their platform did not urge anything ex¬
consensus of opinion is that the reversal of pluralities
treme or dangerous, and hence there was nothing to
in Maine indicates dissatisfaction with the dominant
prevent the people from flocking to their standards
party. As to the causes of this dissatisfaction, there to escape from the dangers involved in a continuance
is not the same unanimity. There were unquestion¬ of
Republican control. In this sense the Democratic
ably a number of such causes, and the precise influence victory is not so much a triumph of the Democrats
exerted by each it would be difficult to determine. as it is a
triumph of conservatism. Upon whether the
the
1909
Sept.
171910.1
THE CHRONICLE
lesson is taken to heart will depend whether further
chastisement is to be meted out to the Republican
Party at the polls.
The Norfolk & Western management has pointed
the way to the solution of one of the trying problems
of the
615
they approach the problem from a new stand¬
point and make a deduction of $3,573,598 from the
late year’s net income to represent
“expenditures to
maintain earning power and offset obsolescence.” It
is explained in the report that these
expenditures
consist of outlays which in the judgment of the board
of directors “were required to offset obsolescence and
depreciation, due to changing conditions, and were
necessary to maintain the earning capacity and pre¬
serve the value of the
company’s property, and there¬
fore should not be capitalized.” This is a wise
pro¬
vision, and we do not see how even the Inter-State
Commerce Commission can raise objection to it.
nomer,
day in the railroad world. For a long time it
practice of the best administered railroads
to set aside a portion of the yearly income and devote
it to so-called improvements and betterments.
In
doing this the managers have been governed by much
the same considerations as prompt the prudent busi¬
ness man to use a
portion of his yearly profits in main¬
taining the standard and condition of his plant and The Norfolk & Western administration is the first, we
machinery, replacing obsolete parts with modern and believe, among steam railroads to adopt this course—
up-to-date implements and tools. But now comes the at least we have seen no other report containing any
has been the
Inter-State Commerce Commission and seeks to inter¬
dict this practice, on the idea that the public carrier
item of the
same
the action is
so
character and
description—and as.
timely, so appropriate, and so in con¬
is not entitled to earn more than a bare return on the sonance with sound
principles of management, we;
investment, and that if the standard of physical may expect that the managements of other companies;
condition is to be raised—if a heavier rail is to be laid will
quickly follow in the same footsteps.
or the
platform of a station is to be enlarged—the
funds for the purpose must be obtained by
The British Government,
issuing new
through Ambassador
capital. New accounting regulations and rules, to Bryce, having assented to our carrying on tariff
nego¬
which the railroads are obliged to conform, have been tiations
directly with Canada, President Taft having
prescribed to carry out these ideas of the Commission. cordially endorsed the principle of reciprocity, and the
While thus being cut off from
strengthening and re¬ voters on both sides of the border having forcefully
inforcing their properties, through the prudent appli¬ expressed their desire for more friendly relations,
cation of earnings, railroad managers find themselves the
way should now be open for the establishment
.
confronted with
danger from another source. The
prospect of a physical valuation of the properties
for the purpose of furnishing a basis for
compulsory
reductions in rates is hanging over their heads. If
such a valuation should be ordered,
everything the
railroads owned would be valued at the lowest possible
basis and deductions made in the case of
equipment
and plant for age, service and wear.
What would happen is indicated by the action of our
Public Service Commission in making a physical valua¬
tion of the Third Avenue Railroad
property in this
city and then rejecting the scheme of reorganization
prepared on behalf of the old bondholders because it
did not provide for a shrinkage in capitalization in
accordance with the shrinkage in property valuation
fixed by the Commission’s experts. As we showed in
an article in our issue of
Aug. 20, the experts in that
case fixed the
reproduction cost at $42,907,816, and
then at once began to whittle down the
appraisal on
the theory that the property to be
acquired by the
a
of
a
sensible
tariff
between
the
two
neighboring
countries, which in many respects are more like ad¬
joining States than rival nations. Authoritative
assurances have been received from
Beverly, “the
summer capital,”
that steps are being taken with a
view to having the representatives of both
govern¬
ments meet during October, and confidence is
expressed
in Ottawa as well as in Washington that the movement
will be crowned with
creditable alike to*
President Taft and Sir Wilfred Laurier. * The plait
harmonizes with the former’s expressed intention of
having
a
success
tariff revised, schedule by schedule, as
proper data justifying a change are gathered and pre¬
sented by the official investigators.
On the Continent of Europe the high
cost of living
is fostering an agitation for the removal of duties on
the importation of live stock from other European
countries as well as from America; but the
agrarian
interests are so strongly entrenched that no steps
have yet been taken to suspend or abolish the
present
new
company was not new—that some of it was prohibitive rates. Statistics have been
compiled
dilapidated, worn and obsolete. Elaborate sets of showing that the rising tendency of prices has not been
tables were presented to justify
the process. The confined to the United States, but has embraced
experts proceeded on the idea that after the lapse European countries in a degree
only slightly less pro¬
of a number of years much of the
nounced
than
here.
plant might be out of
This refutes—if such refutation
date and accordingly have little more than
is
needed—the
scrap value,
oft-repeated allegation that so-called
so they made all sorts of allowances for
“trusts”
have
been responsible for what has * taken
“obsolescence,
inadequacy and age,” for “deferred maintenance,” place in this country. The whole matter goes
deeper
for “wear and tear,” &c?
1
;- Altogether no less than than that.
r
$11,807,691 was marked off in this way and the claim
our own
;
made that
capitalization should
be reduced in like
manner.
The
Norfolk & Western managers are
evidently
determined not to be caught in a
trap of that kind,
and if a physical valuation is to be made for the basis
of
Gold movements
this year
following the normal
and nothing has obtruded to poi*tend complin
cations at any centre. London is succeeding in main¬
taining its stock of bullion on a satisfactory level
without resorting to the imposition of an onerous dis¬
count rate.
The Egyptian call for gold has thus far
are
course,
fixing rates, they will be prepared for it. Not
appropriations for so-called “better¬ been below rather than above the average; as our
ments and improvements,” which at best was a mis
special London correspondent records in his weekly
allowed to make
[VOL. LXXXXI.
THE CHRONICLE
cable, the shipments to Egypt during the week cov¬
ered by the bank statement reached only $1,850,000,
While since then $750,000 has been forwarded. India
is filling her needs largely in the open market; this week
she secured $800,000 of the $3,000,000 offered. Turkey
is making a special effort to build up her financial
position preparatory to floating a large loan, mainly
for increasing her armaments; in addition to previous
heavy purchases, partly in the open market, Constan¬
tinople withdrew $2,100,000 on Thursday. The
patient politeness, but the public might well earn a
esson
too.
along the same line
touch the timely topic of “railroad returns to the public
compared with railroad returns to the stockholder.”
Other Central advertisements
The first train
ever run on
what is
now
the Central
Lines, and one of the first in America, was operated in
1831, from Albany to Schenectady, 17 miles; it con¬
sisted of a primitive “De Witt Clinton” engine and
three crude carriages, over the crudest of roads and
“manned by two men and a boy.” Now’, 67 passenger
prevailed at Amsterdam
during the greater part of the summer has not yet and hundreds of freight trains go daily over this same
been materially relieved, despite another engagement bit of road, a part of 13,000 miles. The employees are
of new South African gold at Monday's sale, although now 135,211, to whom 95 millions are annually paid as
yesterday a reduction in the Bank rate from 5% to wages, besides 75 millions expended for supplies for
maintenance of a service using 5,500 huge engines
4% was reported; private discounts in Holland now
rule at 434%
Russia continues to add to her already and 210,118 passenger and freight cars. The wages
inordinate supply of specie, part of the latest consign¬ paid are higher than ever before; the supplies used are
ment from the Transvaal mines having gone to St. also greatly advanced in cost, and there is probably
Petersburg. From South and Central America the not a single family in the United States that does not
profit by the enormous distributions of money annually
inquiry for gold has been light.
Sterling exchange in New York has this week ruled made by the New York Central Lines for these pur¬
well above the gold-import mark, and at the moment poses.”
So far, this is a compact statement in contrasts.
there seems little likelihood Of an American demand
monetary tension that has
•
for the metal from London.
It is true that the refusal
foreign bankers to accept cotton bills of lading not
guaranteed by our financial institutions has caused
rates to decline, and this movement may go further;
but, on the other hand, the partial returns of our for¬
eign trade during August indicate that imports have
again been very heavy and that exports have not ex¬
panded correspondingly. The Bank of England,
under all these circumstances, cannot be accused of
neglecting prudence in refraining from raising its dis¬
count rate so long as it can hold its own in the way
of
But another contrast which is stated in two sentences
“yet our 200,000 stockholders and bond¬
holders—men, women and children, whose cost of
living has increased as well as yours—are receiving
but little more than savings-bank rate on their in¬
vestment.
Nor will the present margin of return
provide for extension of facilities, without which the
New York Central Lines and the public will suffer
more
is this:
together.”
Human nature is selfish and
thoughtless, and pos¬
sibly people who know they are not among the parti¬
It has, in fact, added fully cular 200,000 above-mentioned may think they are
reported this week.
$4,000,000 to its total
reserve, including $1,335,000
in bullion, and now holds a reserve equal to almost
53J^% of its liabilities.
available
of the
Complete data
are
not yet
condition of the national banks
themselves
more
concerned in low commutation and
freight rates than in the rate of return to railroad pro¬
prietors. Yet, because human nature is selfish, the
second of those two sentences, which is a plain warning
of the tendency of things, ought to appeal cogently to
selfishness. As has been already noted, selfish¬
ness among railroad employes in some parts of the
country is taking alarm, and only a few weeks ago the
throughout the United States, but the combined figures
for all New York institutions show that during July
and August there was a substantial gain in cash on
hand, while the Clearing-House statement of last
Saturday showed an actual surplus of fully $28,000,000, Illinois Central took the case home to its own men
a total only twice exceeded at this season since 1895.
by a little pamphlet which put it both fairly and
directly.
A flippant remark, incorrectly alleged to have been
The re-establishment of order and government in
made by William H. Vanderbilt, used to be current
as expressing what was imagined to be the attitude
Nicaragua is proceeding smoothly. The United States
of railroads towards the public. It may be well has recognized the de facto rule of Gen. Estrada and
doubted whether railroad managers ever had such a has appointed Thomas C. Dawson, lately named
feeling of indifference; but if they ever did it is some¬ Minister to Panama, as a diplomatic commissioner to
thing long past. The well-timed and well-directed proceed to Managua and assist the new Administration
advertisements by the New York Central and Penn¬ in rehabilitating the affairs of the long-troubled re¬
sylvania (and, locally, by the Interborough) show a public. Gen. Estrada, the Provisional President, is
new appreciation of the fact that the best way to reach
showing the utmost readiness to pacify this country
the great public is to aim straight and to speak as one by making due amends for the murder of two Ameri¬
man of sense to another.
For instance, the Central, cans and by preparing to deal equitably with claims
a few weeks ago, in advertisements so well phrasec
standing against Nicaragua. He proposes the flota¬
and displayed that no reader could fail to see them tion of a large loan in the United States, a certain per¬
and give them some attention, told of the “school of centage of the customs dues to be set aside as security
courtesy” it had established for employees, “to teach and for refunding purposes, as has been done under
courteous responses to the inquiries of the traveling somewhat similar circumstances in the case of other
impecunious nations of the Southern Continent. Mr.
Dawson will be ready to assist the Estrada Adminis¬
for tration in bringing order out of the financial chaos
person who inquires at what time the
10 o’clock train leaves is no longer to get the smart
public.” The
answer, 60
minutes past 9.
There has been
room
Sep*. 17 1910.
THE CHRONICLE
677
PggESB
created
by the conduct of ex-President Zelaya and by gamation, that of the District Bank with Iioyds^w^lS#
wasting revolution lasting nearly a year, while he rejected by Manchester. The likelihood, therefore, is
may also prove valuable when the involved task of that the tendency towards centralization of
banking
devising machinery for a new election has to be faced. control, at least in so far as it embraces the provinces,
There is reason to doubt whether an election can be will be effectually checked for
the present. The
carried through within the six months originally agreed incident is illuminating in
showing how directors in
to by the Provisional President; but so far Gen. Estrada Great Britain are under the
sway of those who elect
has evinced a willingness to follow a course calculated them, and how active is the interest there
taken in
to win for his regime full recognition from the United the conduct of
incorporated concerns. All this is
States and other Powers.
conducive to efficiency and cleanness in administra¬
the
tion.
We think the
port authorities are well advised in
exercising the utmost vigilance in scrutinizing incoming
Finland, perhaps with more courage than discretion,
passengers from the European areas infected with has thrown down the gauntlet to the Czar by re¬
cholera, for, although the steamship companies as
well as returning tourists are thereby subjected to
inconvenience, prevention in this case is desirable at
any price.
There are unfortunately crowded districts
electing, on the re-assembling of the Diet on Thursday,
Judge Svinhufvid as its President. The cables state
that he is viewed with uncompromising disfavor by
the Russian Government, and that his re-election
on the East Side of New York where an outbreak of
will undoubtedly incense the Russian autocrats who
the scourge might easily entail serious results, while its are bent
upon robbing the Duchy of her legislative
presence would mean widespread annoyance, to say independence.
The Douma will probably be ordered
nothing of expense, to the whole business community. to take summary measures against the defiant little
It is comforting to know that in normal cases the nation which has
consistently sought to preserve her
symptoms develop in less than a week, so that by the freedom. It will be recalled that the Finnish Diet
time steamers from the Continent arrive in New York returned to the Czar without
having acted thereon
infection should be easily detected. There is no occa¬ the Imperial measure
providing ostensibly for joint
sion, therefore, for uneasiness here so long as the legislation by the Douma and the Diet, but which
health officials continue to carry out their duties as
really meant domination by St. Petersburg. Popular
systematically and thoroughly as they are now doing,
sympathy naturally will go out to the plucky patriots
The latest reports from Russia state that,
though who have thus dared to incur the displeasure of the
the afflicted area is larger, the number of new
powerful Russian bureaucracy; but the chances are
cases
is falling off, while less alarming accounts that in this case
might will prevail, just as it did in
are coming from the locality in
Italy where the plague the case of Japan and Korea.
was first detected.
As was inevitable, other parts
of Europe have been visited by the dread
Fall River cotton-manufacturing corporations con¬
malady.
Quite a few cases are reported from Berlin, from Danzig tinue to make a satisfactory distribution of dividends
and from other Prussian cities, while Spain has had to to
stockholders, notwithstanding curtailment of output
cope with immigrants from Alexandria who developed of goods and narrowing of the margin of profit, due
the disease on the way. At every point, however, the to the
high cost of the raw material. In this respect
Government authorities are displaying commendable conditions are in no essential
degree different from
energy in instituting preventive measures, and there what they were in the early part of the year.
As a
is every reason to hope that within a few weeks the matter of fact it has become so much of a settled
disease will be virtually stamped out
except in Russia, policy with most of the corporations to maintain a
where it must be regarded as a perennial
stable rate of distribution, no matter what earnings
plague.
may be, that the recurring statements of dividends
That the voice of the British stockholder and custo¬ no
longer reflect the situation in the industry. For
mer is potent in
the
third quarter of 1910 the dividends declared by
the
of
directorates
influencing
actions
has again been illustrated through the decision, thirty-four out
of the thirty-five mills from which
made at the last moment, to abandon a banking reports can be obtained total $435,875 on a
capitaliza¬
amalgamation that the respective boards had ap¬ tion of $26,525,000, or an average of 1.64%. In the
proved. The progressive Parr's Bank, in furtherance third quarter of 1909 stockholders received in the
of its policy of expansion, had
arranged to absorb the aggregate $411,125, or 1.61%, on their investment.
virile Lancashire & Yorkshire Bank on what the In the nine
years prior to that time (1900 to 1908 in¬
directors of both institutions regarded as satisfactory clusive) the
highest rate of distribution was 2.70% in
terms.
But the manufacturing, mercantile and other 1907, and the lowest
0.70% in 1900. For the nine
influential Manchester customers of the provincial months of the current calendar
year the result to
bank objected most strongly to
shareholders
has been distinctly satisfactory in view
having their banking
accounts supervised by London, and it availed of the conditions
prevailing. The thirty-five corpora¬
nothing to explain to them that a local board would tions have paid out collectively $1,388,375, on a
be maintained to pass upon matters of local concern.
capital of $26,525,000, or an average of 5.23%, which
The Lancashire business men let it be known em¬
compares with 5.85% for the same period last year,
phatically that they opposed any movement calcu¬ 5.42% in 1908 and 7.27% in 1907. The lowest ninelated to place them under the domination of the months rate in our record is
1.33% for 1898.
metropolis. And although a complete agreement had
been drawn up for formal ratification
The movement of merchandise from the United
by shareholders,
the directors of both banks consented to abandon the States to
foreign ports, reflecting better conditions
whole plan. Not long ago a similar proposed amal¬ abroad, and
Consequently an improving demand for
THE CHRONICLE
678
.'
.
r
^
*,
+
^
-
r
*
_
products, was of comparatively large volume
during August, and in excess of the corresponding
month of any preceding year. Concurrently, how¬
ever, imports of commodities were heavy for the season
of the year—larger, in fact, than ever before in August
our
—so
that
there
on
the whole movement inward and outward
against us. The official
foreign trade statement issued yesterday indicates that
exports were much above the small total of last year,
the month's aggregate in 1910 having been $134,794,355, against only $109,751,893 in 1909, $llT),443,055 in 1908 and $127,270,447 in 1907. Shipments
of breadstuffs, although greater than in July, were
less than in August of any year back to 1904. They
reached a value of but $6,902,550, against $10,837,093
in 1909 and $17,510,971 in 1908, the decline from last
year being fully accounted for by the falling off in
wheat. Cattle and hogs also showed a decrease.
Provisions exports, on the other hand, were, for the
first time in some months > moderately greater than for
the corresponding period of the previous year, and
mineral oils, too, exhibited a small gain.
It remained for cotton, due to the exceptionally
large August movement as well as to the higher prices,
to show a very important augmentation as compared
with last year, the month's exports covering a value
of 19millions of dollars, or an excess of 12 millions.
The foregoing items give an aggregate value of $45,671,277, or about 934 millions greater than the total
for August a year ago and only 1)4 millions smaller
was
small balance
a
all commodities
indicating
articles
a
as
above.
eight months of the calendar
year
1910 the
total merchandise exports were $1,054,183,800, or
an increase of 47 millions over the corresponding period
from 1906.
from 1908,
a
The increase this year over
a
last has been
quite generally shared in, the items of exports showing
losses being few, the most conspicuous including
breadstuffs, cotton and provisions. Moreover, im¬
portant gains are seen in automobiles, naval stores,
iron and steel and manufactures, leather and manu¬
factures, fish, paper, and wood and manufactures.
Imports of merchandise during August reached
$138,357,780, against $117,094,080 in 1909, only $91,183,536 in the month of 1908 and $125,806,043 in
1907—until now the highest August aggregate. The
total inflow of merchandise for the eight months of
1910, at $1,055,097,369, exhibits an excess of 109
millions over the like period year ago, a gain of 355
millions over 1908 and an increase of 5334 millions
over 1907—the previous record.
Almost all items
of import are coming in more freely this year than
last, most notable gains being recorded in India rub¬
ber, sugar, iron and steel and manufactures, seeds,
oils, automobiles, hides and skins and art works.
Among the few articles showing important losses are
coffee and raw silk, imports of both of which were
heavy last year.
The net result of our foreign trade in August was a
balance of imports of $3,563,425, which was suffi¬
ciently large to overcome the small favorable balance
The movement of
gold from London to this country
July continued in August, and,
with exports comparatively moderate, our gain in the
metal during the month reached $9,668,183, reducing
the net outgo for the eight months to $11,005,819.
In August 1909 the movement netted an export of
$3,882,000, bringing the eight months' total on the
same side of the account
up to $60,973,000.
that
was
a
feature of
Seasonable firmness has
Paris the rate, as was the case last week, has moved
gain of 1534 millions in the outflow of
than those specifically referred to
of 1909, a decrease of 37 millions
off of 142 millions from 1907 and
chandise.
falling
was
contrasted with last year,
other
For the
July and leave the re¬
sult for the eight months an import balance of $913,569
—the poorest showing since 1895. In August 1909
there was also an excess of imports, but for the eight
months there was an export balance of $59,481,289.
In 1908 the month's exports exceeded imports by $19,259,519 and the balance for the period since Jan. 1
was on the
export side by $391,369,960—that being
the record export balance for eight months, and was
the result of the decided drop in the inflow of mer¬
loss of 45 millions
exported in August, however,
25 millions of dollars
that remained at the close of
developed in discount rates
principal Continental centres, but in London,
where private charges for accepting bills had been
raised unduly, the calm policy pursued by the Bank of
England has brought an appreciable recession in
quotations. It is still possible to say that the mone¬
tary position not only abroad but here is thoroughly
sound, and that, judging from present indications, the
autumn season should not bring excessive stringency,
if indeed rates go to normal levels. We are within a
fortnight of the opening of October, yet the London
Bank Governors have not felt compelled to change the
3% rate, which has ruled since June 9 last. Call
money in London has loaned at % of 1% and Stock
Exchange loans for the ensuing two weeks were ob¬
tainable at this week's settlement for 3%, only the
same rate being demanded from holders of American
securities. Discounts now rule at 2%% for 60 days'
spot bills and 2%% for 90 days'- spot bills, with frac¬
tionally higher figures asked for bills to arrive. At
The increase in the combined value of
than in 1908.
[VOL. LXXXXI.
at the
another )4 of 1%, to 234% for both spot bills and
arrive; an impending local municipal loan,
combined with a moderate return of activity on the
Bourse, has influenced the French money market,
up
bills to
while the Bank of France continues to lose small
amounts of gold weekly.
The approach of the
quarterly settlements naturally brings a firmer tone
in Berlin; spot bills are not now negotiable under
S%%, while bills to arrive are charged a somewhat
higher figure than the official Bank rate of 4%.
Amsterdam quotes 434%, but yesterday's reduction in
the Holland Bank rate may presage a
return to lower
The Brussels rate is 2%%,
The Bank of England still adheres to its 3% mini¬
mum discount rate, and in view of the strong state¬
ment issued on Thursday no alteration may be made
levels.
until October.
any
Inasmuch
of the £600,000
new
as
the Bank failed to
gold offered
on
secure
Monday—
India, Russia and Holland were the principal pur¬
chasers at the minimum price—it was thought prob¬
able that the shipments of gold to Egypt and to Turkey
would entail
a
decrease in the amount of bullion
on
hand, but instead an increase was disclosed. Ac¬
cording to our special cable from London, the ratio of
reserve to liabilities rose from 52.06% last week to
53.43% this week. The gain in bullion during the
Sept. 17 1910.
week
was
THE CHRONICLE
£267,940 and the Bank held £39,708,972
at the close of the week.
much
The increase in the total
notable, namely £817,000.
A decrease of £549,000 in circulation seems a trifle
curious in view of the remarkable trade activity in
Great Britain.
On the other hand, a contraction of
£496,000 in loans simply means that, open market
rates having declined below the official charge, bor¬
rowers paid off their loans at the Bank.
A fall of
£3,535,000 in public deposits and a corresponding gain
(£3,601,000) in ordinary deposits is accounted for by
the taking up by the Chancellor of the
Exchequer of
large issues of matured Treasury bills. Since the
weekly statement was compiled, £420,000 gold has
been shipped to Turkey and £150,000 to
Alexandria,
reserve
was
more
•
#
while South America has taken a nominal amount.
Our correspondent further advises us that the
gain
was due to the free movement into the Bank from the
interior of Great Britain. There were no imports,
but exports reached a fairly large aggregate and were
mainly to Egypt.
679
Time money rates have tended downwards for 1911
maturities. All fears of severe
stringency have been
dissipated, and consequently the banks are more
willing to release funds, especially as there are growing
signs of dulness in the mercantile world. Borrowers
who can produce the right kind of collateral are
to-day
able to
facilities for four to six months at 4J^%.
The uncertain trade outlook, however, has militated
secure
against the free absorption of commercial paper,
notwithstanding that it has been abundantly proved
that this form of asset is extremely desirable in times
of financial stress.
Very few drawers can have their
bills discounted under 6%. The inquiry both for
Stock Exchange loans and mercantile discounts is
somewhat restricted, owing to a paucity of business.
The detailed range of quotations for loans is as follows:
for 60 days, 4@4^% for 90 days and 4J^@
4^% for four, five and six months. Prime commer¬
cial paper is quoted 5J^@6% for regular four to six
months’ maturities, while less desirable names are
charged 6Occasionally transactions in
60 to 90 days’ endorsed bills receivable are recorded
at 5M@5M%
The details of the movement into
and out of the Bank were as follows: Imports, nil;
exports, £510,000 (of which £370,000 to Egypt,
£100,000 to Constantinople, £15,000 to South Africa
and £25,000 "ear-marked” Straits Settlements), and
Only once since the panic of 1873 have the mer¬
receipts of £778,000 net from the interior of Great chandise imports into the United States exceeded the
Britain.
The local money
markers first response to the an¬
Thursday that London bankers had
ejected the railroad “validation” of cotton bills of
lading was a rise in call loans to 2}4%, a figure that
had not been quoted since the last week of July. The
deduction drawn was that, if European purchasers of
cotton throw the onus of
financing the cotton crop
upon New York, complications will be entailed before
a new system can be
put in working order. It does
not appear to us that the
European bankers are
reasonable in insisting upon the bank guaranty when
they know perfectly well that a national bank is spe¬
cifically prohibited by law from undertaking such a
responsibility. The temporary arrangement which
nouncement
on
will remain in force until Oct. 31 seems to meet all
reasonable requirements, and if additional safeguards
regarded by foreigners as essential, then the spinner
logical party to appeal to, It is hinted in certain
quarters, but not by those directly engaged in the
negotiations, that London has been influenced by a
desire to induce our cotton growers to hasten the
marketing of the staple and thus bring about lower
prices. Such a ruse, however, would not be com¬
patible with British traditions for strictly scrupulous
commercial honor. Yesterday it was announced from
London that the whole question will be reconsidered
at a meeting to be held next
Thursday. The ad¬
vance in
money rates in so far as due to the dispute
is likely to prove very
temporary. Up to Thursday
call money had ruled under 2%, but on that
day
are
is the
renewals
were
made
at
the
figure quoted, while,
already stated, some transactions were on a
higher basis. Yesterday the range was 1H% to
2%, with the last loan made at 1J^%. The average
ruling 1 rate has been 1%%'. The offerings are
still more than adequate to meet the limited re¬
quirements, for speculation in stocks is still abnormally
dull, the improvement in bonds has not yet gone far
and new Issues of securities are
unimportant.
as
merchandise exports for a full year, the exception to
the general rule of excess exports having occurred in
1888.
Prior to 1873 the import balance had reached
large proportions, owing in part to the destruction
wrought by the protracted Civil War, which so
seriously crippled production, both of foodstuffs and
manufactures. Thus in 1867 the imports outran the
exports by fully $61,000,000, in 1869 the balance
reached $101,000,000 and in 1872 $187,000,000. The
terrible financial upheaval that followed checked pur¬
chases abroad and so keenly stimulated sales to
foreigners that in 1874 there was a balance of exports.
Since then exports have predominated each year
(save in 1888), the balance running all the way from
$6,482,566 (in 1887) to $648,796,390 (in 1900). Now
comes the announcement from
Washington that for
the first eight months of 1910 the inward movement
of merchandise has outvalued the shipments.
The
detailed statistics have not yet been published, but
the excess of imports is put at $913,569. It must
not be forgotten, however, that our heaviest
exports
are made in the final
quarter of the year,; when our
new cotton and
grain crops are available for the mar¬
ket. Before the calendar year ends, it is safe to
assume that the balance will
again swing in our favor.
All this directly interests our foreign
exchange
market. Curiously enough, gold imports and gold
exports are both being discussed as within the range
of possibility within the next few months. Sterling
has crept away from the import level this week,
demand having sold up to 4 86^, yet receipts of grain
bills are daily becoming a more important factor and
the bill-of-lading impasse is expected to
bring an in¬
rush of cotton bills, while the monetary situation in
London has improved beyond expectation. So much
for the tendency towards lower exchange. But what
of the extraordinary state of our
foreign trade? The
position has been and still is abnormal. It is not the
less so in view of our gold imports during July. Pre¬
dictions are being made that gold wUj have to be
shipped in large volume to square the account.
#►
THE CHRONICLE
Assuredly the whole matter is complicated beyond the
ordinary, and interesting developments may be wit¬
nessed between
Dealing in exchange has been conducted cautiously
during the current week. Certain operators have
joined the bull side of the market, with more success
than
attended
their
excursion
on
the
bear
Quotations advanced until Thursday, when the
turn in the dispute over financing the cotton
caused
a
reaction.
volume of business
The
MEXICO'S CENTENARY.
Republic of Mexico's centen
ary, which is now beginning with great pomp at the
capital of that Government, is to our country, for
numerous reasons, an interesting event.
It is not the
first of the centenaries observed by the SpanishAmerican republics which broke loose from Spain in
the early years of the nineteenth century. Argentina
has been celebrating her own similar centennial, and
The celebration of the
and November.
now
(VOL. LXXXXI
side.
new
crop
done
Very few financial bills there will be others from time to time. All of them
have peculiar significance to the people of the United
are on offer.
Compared with Friday of last week, sterling ex¬ States, from the fact that the uprisings which led to
change on Saturday was firmer, with demand at the establishment of these republics were inspired
4 8605@4 8610, cable transfers at 4 8635 @4 8645 and directly and immediately by the American Revolution
60 days at 4 8320 @4 8330.
On Monday 60 days of two or three decades before. In the case of Mexico,
advanced to 4 8350@4 8360, demand was unchanged the location of that State next door to our own terri¬
and cables closed at 4 8635@4 8640. On Tuesday tory, the singular and varied relations which have exdemand advanced to 4 8615 @4 8625, cable transfers sted between that country
and the United States,
to 4 8645 @4 8655 and sixty days to 4 8350 @4 8360. and the
certainty that these relations—industrial, at
On Wednesday sixty days moved up to 4 8370@4 8380, all events—will be more intimate in the
coming years,
demand to 4 8620 @4 8625 and cable transfers to lend
additional interest to a celebration of the sort.
4 8655@4 8665.
Demand advanced on Thursday to
The history of Mexico, a salient event in which this
4 8625 @4 8635, cable transfers to 4 8650 @4 8660 and
centenary celebrates, is much more full of material,
60 days to 4 8370 @4 8380.
On Friday trading was even for
popular interest, than most people imagine.
dull at virtually unchanged rates.
One does not have to go back to Hernando Cortes and
The following shows the daily posted rates for
Montezuma, and to the very legendary tales of Aztec
sterling exchange by some of the leading drawers.
Mexico’s splendor in 1588, to find food both for
Mon.,
Tues.,
Fri.,
Wed., Thwrs., Fri.,
genuine human interest and for real historical philos¬
Sept. 9. Sept.\2. Sept. 13. Sept.14. Sept.lb. Sept. 16.
84
84 X
84
84
ophy. The present centenary celebration commem¬
Brown
j60 days 4 84
84X
87
87
87
Bros. A Co
87
87
| Sight.. 4 87
84
84
84 H
84 H
84 X
Kidder, Peabody
]60 days 4 84
orates, like our own Fourth of July, a declaration
from
day to day is light.
:
^
*
—
A Co
Bank of British
North America_
Bank of
Montreal
Canadian Bank
of Commerce
...
...
lSlght.
J 60 days
lSlght-.
i 60 days
_
lSlght..
] 60 days
lSlght..
...
Heldelbach. Ickel-
J60 days
helmer A Co
j60 days
Lazard
Freres
Merchants’ Bank
of Canada
\ Sight..
/60 days
...
lSlght..
4
4
4
4
4
4
4
4
4
4
4
4
4
87
84 X
87
84 X
87
84 X
87
84
87'
84
86J*
84 H
87
87
84 H
87
84
87
84
87
84
87
84
86 X
84 X
87
87
84 X
87
84
87
84
87
84
87
84 X
87
84 X
87
87
84 X
87
84
87
84
87
87
84 X
87
84
87
84
87
87
84 X
87
84
87
84
84
87
84X
84 X
87
84 X
87
84 X
87
84 X
87
84 X
87
84 X
87
84 ^
87
87
87
The market closed on Friday at 4 8370@4 8380 for
60 days, 4 8620@4 8625 for demand and 4 8650@
4 8660 for cables.
Commercial on banks was quoted
at 4 83% @4 83% and documents for payment 4 8334
Cotton for payment ranged from 4 83 @
83%, grain for payment from 4 83% @4 84.
@4 83^4.
4
The
following gives the week’s movement of money
by the New York banks.
to and from the interior
Received bp
Week
ending Sept. 16 1910.
Shipped by
N. Y. Banks. N. Y. Banks.
1
36,564,000
600.000
Currency
Gold
Net Interior
Movement.
$6,579,000 Loss
750,000 Loss
$15,000
150,000
achievement. It does not observe the
exact date of Hie foundation either of Mexican inde¬
rather than
an
pendence or of the present Mexican republic. The
revolt against Spain—inspired, like that of the other
Spanish-American provinces, by the downfall of the
legitimate Spanish King before Napoleon’s armies—
began, in fact, in 1808. The uprising under the priest
Hildago in 1810 was no doubt the first really formidable
demonstration; but it was not successful, and it did
not result even in formal proclamation of Mexican
independence. Not indeed until 1813, two years after
the suppression of that revolt and the execution of
its leader, was independence declared by any very
large part of the Mexican population.
Nor can it properly be said that the republic then
established and maintained. On the
much of the country’s history, between that
proclaimed
contrary,
was
date and the revolution in
Spain itself during 1820,
was made up of the kind of guerrilla warfare which
Result with Sub-Treasury operations:
has so often characterized a futile revolt in a SpanishOut of
Into
Net Change in
American dependency. When, however, the Spanish
Wek ending Sept. 16 1910.
Banks.
Banks.
Bank Holdings.
Banka’ Interior movement, as above.
37,164.000
$7,329,000 Loss
$165,000
people themselves rose up in 1820 against the Bourbon
26,300,000
32.500.000 Loss
Sub-Treasury operations
6,200,000
tyrant and reactionary, Ferdinand VII., who had en¬
Total gold and legal tenders
$33,464,000 $39,829,000 Loss $6,365,000
deavored to restore the worst days of Spanish absolu¬
The following table indicates the amount of bullion
tism, and whose only title to respectful remembrance
in the principal European banks.
in this country is his sale of Florida to us, the new
Sept. 15 1910.
Sept. 16 1909.
Madrid Government was brought to recognize Mexican
Banks of
Gold.
SUver.
Total.
Gold.
Stiver.
Total.
independence, which was thus at length proclaimed in
£
£
£
£
£
a formal way in 1821.
99.708.97S
40.312.326
39,708.9721
England.
40,312.326
France... 135.085.520 83.862,400168,947.920 146.494,080 36,060,680182,554,760
It was hardly to be supposed that a colony made
87.624.550 13,846.750 51,471,800 39.854,850 12,381,550 52,236,400
Germany
Russia... 141.239.000
8.361.000149,600.000 127,678.000 8,970,000136.548.000
Aua.-Hun_ 55.407.900 12.534.000, 67.941.000, 67,597,000 12.460,000 70.057,000
up almost exclusively at that time of Indians and
Bpaln __77 16.337.000 30.974,000! 47,311.000 16,037.000 31,547.000 47,684.000
98.673.000 3.425.000 42,098.000 38,386,000 4,400.000 42.786.000 half-breeds would enter
Italy
upon a constitutional career
Nethlands
9.709. 00 1,819,600 11,589/
10,528.000 3,127,400 18.655,400
6.432.000
2,716,000 8.148,(
4,220,667 2,110,333 6,331.000 in
NatBelg
any respect resembling that of the United States
Sweden
4.449/
4.449.000
4,382.000
4.382,000
Swlts'land
6.198.000
4,883.000
6.198,C
4.883,000
after
1789, On the contraiy, the first of its consti¬
1.931,000
1,931/
1,787,000
Norway.
1,787.000
tutional rulers, styled the “Liberator,” after ruling
Total week 491.864.642 107.538.750 599,393,392 492.059.923 111 ,056.963 603,116,886
Prey..week 491.742.222 108.301,560.600,043,782,492,257,789111,450,213 603,708.002
for a very few months as regent, was made hereditary
Total gold and legal tenders
37,164,000
_
....
.
.
v
$7,329,000 Loss
$165,000
Sept. 17 1910.]
THE CHRONICLE
emperor. The republican idea was invoked again
in the revolt of the famous Santa Anna; but the result
was that for
nearly twenty years the so-called Mexican
interest to remark how
own
exactly the framework of
our
Federal and State constitutional government—
legislative, executive and judicial—has been copied in
republic differed little from those numerous other self- all its details by the Mexicans. Whether the exercise
styled republics of Cent raj and South America, where of such powers as are formally entrusted to the Ameri¬
dictator merely has succeeded dictator, and where can voting
constituency could have been granted at
politics has amounted in so many instances merely to any time during this period with equal freedom to the
desultory and perpetual conflict between rival despots. Mexican electorate was all along a most doubtful
The occasional constitutional conventions held in
question. A population of which, by the 1900 Census,
Mexico during this troubled period did not amount to
38% were Indian and 43% mixed Indian and white,
much more than the establishment of ill-respected and which,
moreover, had been educated in its earlier
precedent. The United States cannot claim the merit years to a mock constitutional government with two
of having helped out its neighbor State and sister rival and
belligerent dictators, did not give much
republic in this hour of trial; that was the very period promise of a serious solution of the problem of popular
which the Polk Administration at Washington selected government.
for declaring war on Mexico and sending the armies
The purpose of Porfirio Diaz from the outset has
of the United States across our Southern border in a
manifestly been, first, to keep peace with other nations;
fight for territory. The result of these conditions, next, to put an end to the constant disturbance of
with the chaos which could not fail to follow
them, the progress of his people through the so-called revo¬
was
something little short of anarchy, resulting, in lutions; finally, to so far accustom the people of
the years of great disturbance immediately
prior to Mexico to at least the forms of orderly representative
1861, in such jeopardizing of the interests of European government that they may be fitted for the eventual
residents in Mexico that the European States them¬ full and unrestrained exercise of those
powers.
How
selves, encouraged possibly by the absorption of our far that task has been achieved, or how far the national
own country in the Civil War, undertook to interfere.
character may unconsciously have been weakened by
Wisely recognizing, however, that no such conditions this dependence on one benevolent administrator, is
could be permanent, all of these European Powers
something which we shall not surely know until the
but one withdrew when they had obtained some rea¬
aged Mexican President lays down the responsibilities
sonable satisfaction. Napoleon III. of France alone of office. There is this much to be
said, at any rate:
remained aggressive in the field of Mexican
that
in the thirty-year interval of national and interdiplomacy,
convinced that his scheme of founding Latin American national
peace, the material prosperity of Mexico has
republics under French dictation would be safe as soon been able to take such roots in a favoring soil that
as the Southern
Confederacy had won its independence. even its heterogeneous population is bound to the
—an
event for which he looked with confidence. interests of an
orderly republic, as could not possibly
It was at the climax of our Civil War that the Em¬ have been the case when
the experiment began. For
peror of the French seized Mexico with his army, the rest, it may be imagined that Mexico, more
per¬
and offered the imperial crown of Mexico to the Aus¬
haps than any other constitutional State, may be
trian Archduke Maximilian. With this event one destined to test the
question—a very important and
begins to touch upon recent and familiar history. serious question of the day—as to how far races tra¬
The demonstration of great dissatisfaction
by the ditionally unfitted for self-government can be educated
Washington Government as soon as its hands were to such capacity by the practice of the task itself.
freed from its own internal contest resulted, as
every
one remembers, in the French withdrawal from Mexico
A DOCTRINAIRE ATTACK ON RAILWAY
during 1867 and in the death, at the hands of the Mexi¬
VALUES.
can insurgents,
At a meeting of the American Economic Associa¬
of the unfortunate Maximilian. The
period of uncertainty which, with something of in¬ tion, held in this city during December 1909, Professor
creased political stability, existed during the
ten en¬ Henry C. Adams, who, in addition to his position as
suing years, led the way to the succession in 1877 of the head of the department of political economy of
Porfirio Diaz as President of the republic,
an office the University of Michigan, has had for more than
which, except for a few brief years in the early eighties, twenty years the control and direction of the bureau of
he has held without
statistics maintained by the Inter-State Commerce
interruption since that time.
We imagine that the
approaching celebration at Commission, read a paper on the topic of “Railway
Mexico will concern itself very
largely with the Diaz Valuation” which has scarcely received the attention
Administration. The event, indeed, is bound to be which it merits. The recent
publication of the pro¬
quite as much a tribute to this remarkable adminis¬ ceedings of the meeting referred to enables us to pre¬
trator as to the country which, after so
many long sent Professor Adams’s somewhat startling proposals
and trying vicissitudes of fortune, he has
brought into in the form of extracts, a method which can certainly
peace and prosperity. It would probably be correct, do him no injustice. They will be
found, we 1hink, to
in line with political definitions, to describe the Diaz be so radical and socialistic
that if it could be supposed
Administration as a paternal despotism. A
that
govern¬
they represent the views of the Commission
ment by military control, or at least
through military charged with the supervision of inter-State railways
influence, it certainly has been at many stages of its they must give pause to future railway development
long career. Yet if a despotism, it tfttisi be described until the regulative system, or at least its personnel,
as a despotism
rarely seen in any country Of the world, should be radically changed.
and all but unknown in a South American
On the other hand, it seems almost unbelievable
republic.
The forms of constitutional government have been
that, in the guise of an argument in favor of a measure
scrupulously observed; indeed, it is not without special of regulation which the Commission has repeatedly
THE CHRONICLE
682
urged upon Congress, one of its principal
employees should be permitted publicly to put forth
views of his own not approved by the Commission,
which if adopted would alter the whole policy of the
Government toward railway investments and probably
lead rapidly and inevitably to Government ownership.
The basis of the argument advanced by Professor
Adams is that no railway ought to be allowed to earn
more than that bare percentage upon the value it
represents which is protected by the Constitutional
guaranty against the taking of property without due
process of law.
In other words, governmental regu¬
lation is to be carried in every case to the limit beyond
which the slightest further step would be actual con¬
endorsed and
[Vol. lxxxxi.
regulated as certainly as an intelligent man would
avoid unnecessary exposure to a pestilence. Professor
so
Adams, whose exalted position leads to his words
whatever importance they may be deemed to have,
thus notifies the investing world that sagacity and
business acumen would not, if he could have his way,
receive any compensation if devoted to the field of
railway investments; and he addresses to those pos¬
sessed of administrative ability the threat that if they
devote their activity and skill to railway management,
he will, if he is permitted to do so, confiscate the ag¬
gregate result of every economy they can devise. His
policy would certainly write the world “incompe¬
tent^ upon the forehead of every railway manager
who should continue in the service after it was ap¬
fiscation.
by which Professor Adams proposes to plied, for only such could be fairly compensated under
accomplish this result consist in a combination of a it, and no competent person could afford to remain,
system of rate-regulation which shall force the rates subject to such conditions.
Of course, such a socialistic scheme of regulation
of the weakest competitor to the level at which it can
barely meet operating expenses and interest charges, needs only to be understood to be condemned. It is
with a differential scheme of taxation which shall take revolting to the ideals of justice which actuate the
from each stronger, better-located or more efficiently American public, as well as to common sense. The
operated railway the entire surplus which, at equal significant thing is that it should be proclaimed at an
rates, it may be able to earn over the sum necessary ostensibly scientific gathering of persons claiming to
to meet its actual expenses of the same sorts.
We now be students of the methods and principles of industrial
proceed to quote significant passages from the paper association, and by one of the highest officers (we
in which Professor Adams announces and attempts to think the officer drawing the highest salary) of the
defend this monstrous doctrine:
Inter-State Commerce Commission, the body charged
the owners of property devoted to the with the duty of enforcing the present regulative sys¬
public service are granted their Constitutional rights, tem and of recommending new laws if any are deemed
so far as rates are concerned, when it is shown that
necessary, and that, having been so proclaimed, it
the aggregate of charges for the aggregate of services has not been publicly and frankly disavowed by the
rendered is adequate to afford a reasonable return Commission.
upon necessary investment.
Surely that body can have no sympathy with Pro¬
“It is one purpose of supervision by commissions fessor Adams’s views in this respect, and he must have
to perpetuate the conditions of competition in the busi¬ spoken without authority to bind any one but himself.
ness of transportation.
This cannot be accomplished Yet he was advocating and defending the preposter¬
unless the agencies of governmental control recognize ous plan of a Federal, official “physical” railway valua¬
the fact that the railways with which they deal are tion, to which the Commission is at present committed.
of different classes and that a rate which would be This fact should suggest to the Commission the neces¬
reasonable for the roads most favorably situated would sity of declaring whether it would, under any circum¬
result in the bankruptcy of lines operating under in¬ stances, attempt to use the results of such a valuation
ferior conditions. This is the situation, and it is for the purposes advocated by its employee, and, if
largely because of the fact that inferior and superior it does not desire to use them for those purposes, to
railways are in competition for the same traffic that state for what other purposes it deems that such a
commissions and courts encounter serious difficulties valuation, if made, could properly be utilized.
in determining the reasonableness of a rate submitted
in a specific case.
THE CHICAGO MILWAUKEE & ST. PAUL
“For myself, I cannot evade the conclusion that
ANNUAL REPORT.
equity, as between various classes of roads, can never
be attained until all the excess of revenue over the
The Chicago Milwaukee & St. Paul Railway Co.
Constitutional limit be made a contribution to the will probably always hold the unique distinction of
puplic treasury, and that this contribution b<Mnade as having built an extension over 1,400 miles in length
a substitute for all taxes of all kinds and all sorts.’’—
and made a paying proposition of it the first year of
Proceedings of the 22d Annual Meeting of the American its operation—not only that, but“ an extension which
Economic Association, pp. 186, 187, 190, 191, 193.
developed a very large earning capacity at the very
No more effective method of industrial suicide than start. We refer, of course, to the Pacific Coast line
this could well be devised. Practically
applied by built under the name of the Chicago Milwaukee &
the people of the United States, it would mean that
Puget Sound Ry. A separate report for this is sub¬
the whole pecuniary incentive for efforts to maintain, mitted, covering the eleven months of its operation
develop and improve efficient methods of adminis¬ from Aug. 1 1909 to June 30 1910. In these eleven
tration and operation had been removed from the months the new extension earned no less than $10,conditions governing the railway business.
765,704 gross and $5,490,843 net. After providing
A dead and stagnant level of inefficiency
could be for taxes and accrued interest on the funded debt
the only result as to properties now in existence, and for the eleven months, and allowing for income from
these would not be improved or extended or
supple¬ outside sources, a surplus is shown for the eleven
mented by netv lines, for capital would avoid a field months of $2,196,206.
The
means
“
.
.
.
...
...
Sept. 17 1910.]
THE CHRONICLE
We do not belijve that any other new line ever made
a record for itself.
Explanation, of course, is
such
found in the circumstance that the
new
line
was care¬
as
683
against 1,763,683 tons.
ever,
there
was
In other
notable growth,
directions, how¬
some
of which
no
doubt must be attributable to contributions from the
Pacific Coast line. The mineral
fully planned and that on its way to the coast it reaches
tonnage for in-,
quite a number of important traffic centres. As a stance, rose from 7,948,184 tons to 9,782,608
tons,
consequence it has not had to depend exclusively upon and the tonnage in manufactures from
4,898,948 tons
the traffic which it itself might create and
develop, to 6,056,060 tons. The agricultural and animal ton¬
but was able to draw upon the established traffic of
nage formed only 24.107% of the whole in 1909-10,
other lines,and more particularly the Northern Pacific as
against 27.751% in 1908-09. On the other hand,
and the Great Northern.
Both these two roads last the
tonnage of minerals and manufactures constituted
mentioned show for the twelve months ending June 30
51.593% of the whole, as against only 46.718%.
1910 a considerable increase in revenue as
We cite these figures to correct the impression which
compared
with the twelve months preceding,
notwithstanding seems to prevail in some quarters that the St. Paul
the opening of the new road; but this increase would has shown a lack of
growth in tonnage. This im¬
undoubtedly have been veiy much larger except for pression has no doubt been created by the fact that
the fact that the Puget Sound line of the St. Paul came the
showing as to net earnings has been unfavorable.
in as a new competitor.
As a matter of fact, the in¬ Notwithstanding the increase of $5,000,000 in gross
crease in the revenues of the Northern Pacific
(which earnings, the St. Paul’s net for 1909-10 fell off, being
suffered most from the new competitor) for the twelve
only $20,055,896, as against $21,166,224 in the pre¬
months is not as noteworthy as would appear from
the vious year. It is well established that the operating
face of the figures.
cost of the railroads everywhere in the United States
When the Northern Pacific totals are
analyzed, it is has been rising. But in the St. Paul case there was
found that the improvement is ascribable
largely to still another circumstance that served to increase ex¬
the passenger department, where the
Puget Sound line penses. We refer to the bad weather experienced.
of the St. Paul has not
yet begun to compete to any The road passed through one of the worst winters in
extent, and that the addition to freight revenues has its history, and very large extra
outlays were incurred
been relatively slight. The Northern Pacific earned in the
removal of snow and in repairing the havoc re¬
from freight in the late year
$48,758,736, against sulting from blockades, &c. It should also be added
$47,073,305 in 1908-09, $46,423,836 in 1907-08 and that the latter
part of the fiscal year the strike of the
$47,650,369 in 1906-07. From this it will be seen that coal miners in Illinois added
greatly to the fuel bill
as
compared with three years ago the freight revenues of the road. Speaking in a general way,
it may be
of the Northern Pacific have risen
scarcely more than said that from November to May the company suffered
a million
dollars. Considering the tremendous ex¬ from
very bad blockades on its own lines and con¬
pansion of the Pacific Coast section of the country nections.
in the same period of time, it will be
It is not likely that there will be a repetition of these
readily recognized
that this is a very small addition to revenues. An
drawbacks in the new fiscal year, and accordingly the
idea can be gained of the inroads made
by the new prospect for good exhibits of net should be rather
competitor when we compare the earnings of the better on the St. Paul than on most other roads. As
passenger department and find that the Northern an indication that
operating efficiency was further
Pacific earned from that source in 1909-10
$21,333,312, promoted, notwithstanding the adverse weather con¬
as
against only $16,320,861 in 1906-07. In other ditions and notwithstanding the
changes in traffic
words, Northern Pacific’s passenger earnings, as to movements occasioned
by the falling off in agricultural
which the new competition has not
begun to count, tonnage and by the opening of the Puget Sound line,
in three years have risen over
30%, while freight we may note that the train-load in 1909-10 was further
earnings have moved up only about 2%. It only re¬ slightly increased and averaged (revenue and
company
mains to add that of the
$10,765,704 gross earnings freight) 322 tons, against 321 tons in 1908-09 and only
of the Puget Sound line for the eleven months to
316 tons in 1907-08.
June 30,1910, $9,582,569 were derived from the
Chief interest in the St. Paul report converges, of
freight
department and only $1,183,134 from passengers, course, on the question of the relation between in¬
mail, express, &c.
come and dividends.
During the course of the
How far the Milwaukee & St. Paul’s own
for the late year may have been advanced
traffic furnished
not
possible to
year
revenues
through the
by the Pacific Coast, extension it is
From the report, however, it is
taking the gross revenues as a whole the
showing for the twelve months is not unsatisfactory.
The total of the gross for 1909-10 is
$64,846,894, as
against $59,897,463 in the twelve months of 1908-09.
This, it will be seen, is an increase of, roughly, $5,000,000, about evenly divided between the freight de¬
partment and the passenger and other departments.
The traffic statistics in the
report make it clear that
the year was not a good one from an
agricultural
standpoint. The. tonnage in agricultural products
was
only 5,754,165 tons, as against 5,868,017 tons
in the previous year, and the
tonnage in animal prod¬
ucts in like manner fell off,
being only 1,646,341 tons,
evident that
say.
fears had been
expressed lest the company might not
earn the dividends in full.
These dividends are 7%
per annum on both classes of stock.
Actually the
report shows a surplus above the dividend require¬
ments in the sum of $2,450,330 on the income of the
twelve months. In the year’s income,
however, are
included two entirely new items of income, one termed
“interest on bonds owned” for $6,059,495 and the
other “dividends on stocks owned”
for $804,880. The six-million item represents interest on the
Puget Sound line 4% bonds held in the St. Paul
treasury. It has been pointed out that this covers
more than a
year’s interest at 4%; it actually covers
one and a half
year’s interest. To that extent, there¬
fore, the showing is more favorable than it otherwise
would have been. It deserves to be noted, how¬
ever, that the result would have been practically the
,
[VOL. LXXXXI.
THE CHRONICLE
the belief of those who originated the idea of the asso¬
merely credited itself with the
interest accrued on these bonds for the eleven months, ciation, which was actually organized on Monday, that
the movement thus started will result in a material ex¬
plus the surplus of Puget Sound earnings remaining
after making provision for such accrued interest. pansion of the export trade of the country. While the
number actually present at the initial meeting was
The sum of these two amounts would have been $5,*
862,872. That is to say, if the Milwaukee & St. Paul only about 50, in one way or another some 160 manu¬
facturers, with combined capital of over $250,000,000,
as the owner of all the securities of the Puget Sound
line had credited itself with all the earnings of that and,covering a wide range of goods, were represented.
The keynote of the meeting was the necessity for
line, the addition to income would have been only
studying the wants and desires of those whose trade
slightly less than according to the method pursued.
The $804,880 credited as dividends on stocks we wish to secure. The care exercised by Great
owned is made up chiefly of dividends received from Britain, Germany and other European countries in
that direction was referred to. It was asserted that
the Milwaukee Land Co., and this, it appears, covered
both the last two fiscal years. Furthermore, it seems merchants from China, South America, &c., visiting
that under the designation “interest on other se¬ New York, give a very comprehensive explanation
for the lack of expansion of our trade with their
curities, loans and accounts and other miscellaneous
income” for a total of $2,589,175, about $2,000,000 countries. They state in effect that little effort seems
to be made to get their trade, American salesmen as a
was included as a charge against the Puget Sound line
for the use of the plants of the Milwaukee & St. Paul rule being unacquainted with the language of the
in the construction of rolling stock for the Puget Sound country, and furthermore they make no study of the
needs of the people, confining their activities to the
road, and that this covered accruals for three years
instead of for merely one. But even if all back-year disposing of goods they wish to sell, instead of offering
results were eliminated from these various items, to supply articles desired. Moreover, through careless
income would be diminished not much more than a packing, goods from the United States are subject to
million dollars and there would still be a surplus, considerable breakage or other loss; freights are often
roughly, of iy2 million dollars above the dividend re¬ higher than from European ports and banking facilities
are pbor.
It is these various causes for complaint,and
quirements.
As far as the immediate future is concerned, much others, that the new organization intends to remove.
The relative importance of South America in this
will depend upon the outcome of operations on the
Puget Sound extension. Large though the revenues export expansion movement was pointed out at the
of this extension were in the late year, they should be session of the association on Tuesday by Mr. John
still larger in the new or current fiscal year. This is Barrett, Director of the International Bureau of the
American Republics. He said that his experience as
so, first, because hitherto the Puget Sound road has
been unable to make any active bid for the passenger U. S. Minister to three foreign countries and his later
business, owing very largely to the failure to get the connection with the Bureau had taught him that the
same
if the St. Paul had
requisite complement of steel cars. There has been
much delay in the delivery of these cars, but with the
first of November it is expected to run at least one
train each way. Then, also, active work has been prose¬
cuted in the building of branches, and some of these
branches it is expected will shortly be opened. As far
as the St. Paul itself is concerned, the reduction in the
spring-wheat yield the present season because of the
drought will no doubt cause some further loss in agri¬
cultural tonnage; but the loss here should be made
good by the extra traffic in passenger and freight de¬
rived from the Puget Sound line. The St. Paul's in¬
vestments in the Puget Sound line are enormous.
$99,492,800 of St. Paul stock was issued to provide
funds for the construction and equipment of the Puget
Sound line and $28,000,000 of 25-year 4% gold bonds
were
issued for the
same
purpose.
regard to the St. Paul's finances, the balance sheet
shows $4,000,000 of bills payable outstanding on
June 30 1910, but at that date the company had re¬
ceived only $14,655,630 on account of its $50,000,000
European loan (250,000,000 francs), while since then
about $17,500,000 more has been received, and in
In
October and November the remainder of the amount
will be
paid in.
greatest opportunities for the
expansion of our exports
in South America. He asserted
that the combination of cheap labor and consequently
of manufactures
are
low-priced products that we face in Europe and the
East are difficulties that do not present themselves
in Latin America. Argentina, with a population of
only about seven millions, according to Mr. Barrett,
imports more American goods than China with its
hundreds of millions of inhabitants. Inferring that
Brazil, with its vast areas and the other Latin-American countries cannot at once become producing na¬
tions, he inclines to the belief that our exports thence,
that gained enormously last year, should (supposedly
with proper attention paid to the gaining of the trade)
double in the next ten years. And with the comple¬
tion of the Panama Canal communication with the
west coast of South America will be greatly im¬
proved.
There is much in what Mr. Barrett had to say that
deserves careful consideration, and especially as*re¬
gards Argentina. The exhibition now in progress
there offers opportunities that should be fully availed
of. The progress that Argentina is making is per¬
haps not thoroughly realized. We have before us now
the message of President Alcorta to the Argentine
Congress, which opened May 5 1910, and it is a very
interesting and instructive document, replete with
South America as a field for the future development details of the country's recent great financial, com¬
of the export trade of the United States received special mercial and educational progress.
As regards the
attention at the meetings called this week at the Hotel foreign trade of the country the President shows its
Imperial, this city, for the purpose of organizing the phenomenal development by comparing the results
American Manufacturers' Export Association. It is reached in 1900 with those for 1909. Imports, which
FOSTERING TRADE WITH SOUTH AMERICA.
Sept. 17 1910.
THE CHRONICLE
685
in 1900 covered a value of 113% millions of
had risen to 302% millions in 1909, while
dollars, j exceedingly low rates. Rates on the Norfolk & Westexports have em have always been small. The character of the traffic
risen from 154% millions to 397 1-3 millions in the is such—it
consisting largely of coal and other minerals
same period.
Furthermore, the favorable or export —that the shippers could not find a market for it iii
balance in the latest year stood at 94% millions of
competition with the similar products of other regions,
dollars, against only 41 millions in 1900. And this except on the basis of very low transportation
charges.
improvement has come while Argentina’s natural But what is especially notable is that with the
average
resources, as we stated recently, have been developed already very low, the rate is being
still further reduced
to only a comparatively limited extent.
With more year by year. At least that has been the record in all
rapid development along agricultural lines, not only the more recent years, and the late period of twelve
will the country’s outward trade largely increase but months has
proved no exception to the rule. In
the demand for goods from abroad will be
greatly 1909-10 the road realized an average of only 4.47 mills
augmented. By proper attention to local require¬ per mile for every ton of freight carried. This com¬
ments American manufacturers should secure a
good pares with 4.60 mills in 1908-09, 4.81 mills in 1907-08
measure of the prospective increased trade.
and 4.95 mills in 1906-07. Perhaps the exigencies of
Brazil, too, offers opportunities that our manu¬ competition account for the decline in rates here re¬
facturers should not neglect. It is true that of recent
corded, but it seems more likely that the managers
the exports from the United States to that deemed it incumbent that the road should
accept
country have materially increased, but not to the lower rates in order to move the traffic and
get the in¬
extent that have those of Great Britain or
dustries
Germany,
along the lines started on a new era of pros¬
and, furthermore, our total shipments are annually perity.
years
ess
than
Chili’s
half
those
of
the
first-named
country.
imports of goods have also shown considerable
augmentation of late
years,
and proportionately the
increase in goods from the United States has been
great
that of
as
other country, but our total ship¬
in value with those of Great Britain
in the ratio of only about one to four.
Peru, Uruguay,
Colombia, &c., although of lesser importance than the
other countries named, are markets in
which,by cater¬
ing to the tastes and wishes of the inhabitants, Ameri¬
as
any
ments compare
manufacturers should obtain
foothold than they now possess.
can
a
much
stronger
Altogether, there¬
fore, the organization of the American Manufacturers,
Export Association is
a
step in the right direction.
NORFOLK & WESTERN’S PROSPERITY.
The Norfolk & Western Ry. is not one of the railroad
systems which show diminished net earnings for the
year ending June 30 1910.
On the contrary, it records
substantial improvement, notwithstanding the
tendency of operating cost to rise in every direction
among the roads. The reason for this good exhibit
as to net is found in the
great expansion in gross reve¬
nues.
There are few railroads in the United
States,
we imagine, which can
point to such a proportionately
large increase in gross revenues for that period of
twelve months. The total addition to
gross receipts
was
$5,736,769, or close .to 20%. In the freight
revenues, which supplied the bulk of the increase, the
ratio of gain was yet larger,
reaching 21.6%. We may
add, furthermore, as indicating the wonderful expan¬
sion in the business of this road in the
year in question,
that in the number of tons of
freight carried the gain
was 26.8% and in the number of
tons moved one mile
an even
25%. An addition of a full quarter to the
freight business of an established road in a single year
is obviously no
ordinary record, even in a country like
the United States, where we are accustomed
to excep¬
tional figures of growth and
expansion.
Manifestly, development in the territory tributary
very
The
large expansion in gross revenues during 1909-10
noteworthy in view of this further drop in
rates, since obviously under that decline a larger
amount of traffic had to be hauled in order to
yield
a given amount of revenue.
The road moved 5,363,326 tons more freight in 1909-10 than in
1908-09, and
of this increase 3,020,956 tons were
supplied by the
coal shipments. In addition, the coke
shipments
increased 708,649 tons, the shipments of ores 325,764
tons, the shipments of iron 383,189 tons and the traffic
in stone, sand, &c., 212,970 tons.
This will give an
idea of the general character of the road’s traffic,
but
there was also development in other directions. For
instance, the agricultural tonnage increased 93,041
tons and the lumber tonnage
151,463 tons.
It must not be supposed, speaking
generally, that
we are
comparing with diminished earnings in the
previous year. In 1907-08 at the time of the intense
industrial depression throughout the United
States,
a
falling off in the traffic and revenues of the Norfolk
& Western did occur, but in 1908-09 there was an
up¬
ward rebound, and in reviewing the
report for that
year we spoke of the road’s recovery from the de¬
pression. A true measure of the growth in traffic is
furnished by comparing the freight movement for the
is the
more
last four years. In the late year the actual number
of tons carried was 25,412,529 tons,
against 20,049,203
tons in
1908-09, 18,608,190 tons in 1907-08 and 20,183,218 tons in 1906-07. The number of tons moved
one
mile in 1909-10
was
6,722,495,887 miles, against
5,377,020,950 ton miles in 1908-09, 4,985,915,528
ton miles for 1907-08 and
5,252,561,457 ton miles
in 1906-07. This, it will be
observed, shows an addi¬
tion of no less than 1,470 million ton miles as
compared
with three years ago.
In the net earnings also, as noted at the
outset, this
road makes for the twelve months of 1909-10 a
very
satisfactory showing.
The magnitude of the gain in
the gross, as already
explained, made the improve¬
ment here possible, but a further
development
of
,
operating efficiency was a means to the same end.
proceeding at Expenses as compared with the year preceding actually
a rapid
pace, aided by the action of the road’s managers increased
$3,317,003 (the increase being nearly equally
in putting out new spurs and feeders and
providing the divided between the maintenance outlays and trans¬
facilities and the service needful to that end—and
also, portation costs), but with a gain of $5,736,768 in gross
we might add, in
rendering transportation services at! revenues, this still left an increase of $2,419,765 in the
to the lines of the Norfolk & Western is
.
significant as in the pre¬
vious year there had also been a substantial addition
to net earnings, brought about in the main as a result
of a reduction in operating expenses, chiefly in the
cost of conducting transportation. Indeed, President
L. E. Johnson then pointed out that, allowing for one
•exceptional item which would have reduced the
amount by $129,455, the net had been the largest in
the history- of the company barring only one year,
namely the twelve months ending June 30 1907, when
the aggregate had been only slightly larger. Thus the
further increase of $2,419,765 in 1909-10 comes on top
•of this notable record of the previous year.
As indicating one of the circumstances that have
contributed to the satisfactory result here outlined,
it should be observed that the company was able still
further to enlarge its average train-load, and accord¬
ingly to improve the earnings of its freight trains per
mile run, notwithstanding the decline in the rate
realized per ton per mile. The Norfolk & Western
has always been distinguished for its high train-load.
In truth, except for this, the road would not be able
to move traffic profitably at the extremely low rates
received. With the further increase in the lading of
the trains, the average train-load in 1909-10 reached
635 tons. This compares with 616 tons in the previous
year, 571 tons in 1907-08 and 569 tons in 1906-07.
In order not to encourage unwarranted expectations,
it seems proper to point out that under the increases
which have recently been made in wsges it will not be
possible to make the same satisfactory showing as to
net in the future unless a way can be found to raise
rates.
In the late year the ratio of expenses to earn¬
ings was 60.02% and in 1908-09 it was 60.46%.
net.
The result is the
more
President Johnson directs attention to the fact that
May, June and July 1910, the published statements
of earnings and expenses show a large increase in the
ratio of expenses to earnings notwithstanding the con¬
for
expansion in the latter. This increase, he
states, is due to the higher cost of wages and materials,
which averages 4.52% over the corresponding period
of the previous year and 5.54% over the average for
the nine months from July 1909 to April 1910, in¬
clusive. Until a readjustment, therefore, of trans¬
portation rates, he declares, can be obtained by the
company fairly commensurate with its increased
expenses, a return to the former operating ratio can¬
not reasonably be anticipated.
Another feature in the present report of this road
tinued
deserves mention.
The Norfolk & Western under its
present management has always been distinguished
for its large appropriations out of earnings to pay for
improvements and betterments.
tions of the Inter-State Commerce
Under the regula¬
Commission, how¬
such appropriations out of income are no longer
permissible. At least if they are made they must be
shown as a separate item and expressly carried as such in
the balance sheet, the idea being that the roads should
not be allowed to earn enough to admit of the con¬
tinuance of the practice. The Norfolk & Western
management feel, however, that some allowance out of
ncome each year is essential in order to prevent the
property from running down and so as to keep plant
up to date in all respects.
Hence, yielding compliance
ever,
requirements of the Inter-State Commerce Com¬
mission, they eliminate the charge for improvements
and deduct instead $3,573,598 for what are called
to the
[VOL. LXXXXI.
THE CHRONICLE
686
“expenditures to maintain earning
power
obsolescence.”
says
President
Johnson
and offset
that these
expenditures which in the judgment of the board of
were
required to offset obsolescence and
depreciation, due to changing conditions, and were
necessary to maintain the earning capacity and pre¬
serve the value of the company’s property,and there¬
are
directors
The payment includes
(or $1,000,000) of the principal of equipment
trust obligations paid during the year.
After making
this deduction of 3J^ million dollars, the year’s in¬
come shows a surplus above the dividend require¬
ments at 4% on the preferred stock and 5% on the
common stock of $1,117,056, which is a satisfactory,
but not an excessive, amount.
fore should not be
capitalized;
one-half
RAILROAD GROSS AND
NET EARNINGS FOR
JULY.
gross and
United States railroads for the month of July
Our
compilation of the earnings,
net, of
furnish
convincing argument in favor of the propositions
which the roads in certain important sections of the
country have made for a slight increase in rates. The
rising cost of operating, which has been such a con¬
spicuous feature of the returns of previous months, is
again in evidence, only this time in a much more
marked degree.
Heretofore the expansion in gross
revenues has been sufficient to offset the growth in
expenses, large though this was, leaving some gain in
net, even though it might not be of very large amount.
But the figures we present to-day show that a point
has now been reached where (speaking of the roads
collectively) gains in net are no longer in evidence,
but where, instead, we have an actual loss.
Consid¬
ering that the roads are obliged to earn a return on a
larger capitalization, stock and bonds—the additions
representing new capital outlays made to provide the
additional facilities needed to handle the growing
volume of business—the diminution in net now dis¬
closed is proof that some advance in rates is indis¬
pensable in order to restore the equilibrium between
revenues and expenses and allow the roads to show that
gain in net income to which they are justly entitled,
and which they must have if their credit is not to be¬
come impaired and railroad securities are to retain the
quality of a stable investment.
The reason why we are now confronted by an actual
loss in net earnings is that gains in gross earnings have
been so greatly reduced, while expenses continue to
rise in the old way.
The shrinkage in the amount of
gain in gross (with an actual falling off on some im¬
portant systems) follows from the fact that the reac¬
tion in trade, which has been noticed for some months,
is bringing about a reduction in the volume of business
passing over the roads. In the first six months of
1910 the gain in the gross revenues averaged somewhat
over $28,000,000
per month, though in June the
amount of increase was, roughly, only about 23
million dollars. For July, now, the gain is found to be
only $11,322,306. This, though representing an im¬
provement of only a little over 5%, would not be un¬
satisfactory, considering the condition of general
trade, were it not for the augmentation in expenses
already referred to. Unfortunately, while gross rev¬
enues have increased $11,322,306, the addition to ex¬
penses has been no less than $15,964,347, leaving,
a
Sept. 17 1910. |
therefore,
THE CHRONICLE
687
loss in net of $4,642,041. Stated in per¬ iliary and controlled roads, like the
Michigan Central
centages, we have an increase of 5.50% in gross, at¬ and the Lake Shore, the gain for the month is raised
tended by a loss of 6.36% in net.
to $1,152,742; nevertheless, net has decreased
$193,•.
—Increase
Decrease—
643.
Many
other
instances
of
the
same
July (680 roads)—
1910.
1909.
kind from
Amount.
%
Miles of road
221,164
217,466 Inc.
3,698
1.72
different
the
Gross earnings
parts
of
$217,202,266 $205,879,959 Inc. $11,322,306
country might be cited. Thus,
5.50
Operating expenses..:
148,844,546
132,880,199 Inc. 15,964,347 12.01
the Great Northern has $477,524 increase in
gross with
Net earnings
$68,357,719
$72,999,760 Dec. $4,642,041
6.36
$153,781 decrease in net. The Chicago & North
Our compilations, as heretofore, are based
entirely Western has $507,952 increase in gross but
only $39,upon the returns filed with the Inter-State Commerce 849 increase in
net.
The Baltimore & Ohio has
$455,Commission at Washington, which is a guaranty that
592 gain in gross, but loses $154,240 in net.
The
the figures have been prepared in accordance with uni¬
Southern Railway, while having added
$419,155 to
form methods, and also affords assurance that no ex¬
gross, bettered its net by only $10,120. The Southern
traneous items have been included in the
expenses, Pacific is $400,313 ahead in
gross,but $111,667behind
such as outlays for improvements and betterments.
in net.
The Union Pacific, though
recording $354,506
Our totals are also very comprehensive. As has been
improvement in gross, shows a shrinkage in net of
previously pointed out by us, all the railroads in the $402,376. The Louisville & Nashville with
$335,620
United States—barring only the few roads that
oper¬ addition to gross has been
obliged to subtract $396,249
ate entirely within State boundaries—are
obliged to from net. And these illustrations might be multi¬
file monthly statements with the Commission. The
plied almost indefinitely.
returns are open to public inspection, and we have
There are a few instances of the
opposite nature—
transcripts of them made for our own use. In order that
is? where expenses have been actually reduced in
to furnish full details for all the
separate roads, we is¬ face of larger or smaller
improvement in gross. The
sue each
month a special Supplement termed our
explanation in such cases is found in expenses of un¬
“Railway Earnings” Section. The September num¬ usual magnitude the
previous year. The Illinois Cen-j
ber of that supplement
accompanies to-day’s issue of tral is a type of this class, which,
however, is not very
the “Chronicle,” and in it will be found in full the re¬
numerous.
It added $387,073 to gross and at the
ports of earnings and expenses of all the separate roads same time reduced
expenses by $179,235, thus pro¬
foi* the month of July.
The summaries in the present ducing a gain in net of
$566,308. In the following we
article are the totals derived from these statements of
show all changes for the separate roads for amounts in
the separate roads.
excess of $100,000, whether increases or
decreases, and
As remarked above, instances of losses in
gross earn¬ both in the gross and in the net.
ings (as well as in net) are not entirely lacking the
PRINCIPAL CHANGES IN GROSS EARNINGS IN JULY.
present time; yet these instances are not very numer¬
Increases.
Increases
a
■
or
ous—at least those for
large amounts are not. There
are, in fact, only four companies which have suffered
decreases in gross for sums
exceeding $100,000. The
Northern Pacific heads the list with a
falling off of
$450,642, and here we may suppose the shrinkage is
not unconnected with the
competition of the Puget
Sound line of the Milwaukee & St. Paul.
three companies are the
decrease of
The other
Lackawanna, which has a
$160,290; the San Pedro Los Angeles &
Salt Lake, which has lost $122,263, and the Rock Isl¬
and, which has fallen behind $105,470.
On the other hand, there are
many roads which are
still distinguished for considerable amounts of increase
in gross, and which nevertheless
register
loss in net
by reason of the great augmentation in expenses. It
is because of this rise in
expenses that the showing
as to net (as far as the
separate roads are concerned) is
just the reverse of that in the gross, there being only
four roads with increases in net
running above $100,000, but a long list with decreases in net above that
figure. The Pennsylvania Railroad is conspicuous in
that respect. On the lines
directly operated east and
west of Pittsburgh it
reports $978,724 increase in gross,
with $973,907 decrease in net.
Including all lines
owned, leased, operated and controlled, the result for
the Pennsylvania Railroad
System is a gain of $1,643,375 in gross, with a loss of
$945,261 in net. In other
words, in the case of this single large railroad system,
expenses during the month of July increased 2%
million dollars, or at the rate of
$30,000,000 a year.
For the New York Central lines the
showing is much
the
same,
though not quite
a
so unfavorable.
The
Central itself reports $362,323 increase in
gross, with
$265,895 decrease in net. Including the various aux*
Pennsylvania
Chicago & North Western
Great Northern
Baltimore & Ohio
Southern Railway
Southern Pacific
y$978,724 Chic. St.
507,952
477,524
455,592
419,155
400,313
395,239
387,073
a362,323
354,506
335,620
...
Erie
Illinois Central
N. Y. Cent. & Hud. Riv.
Union Pacific.
Louisville & Nashville._
Norfolk & Western
Atlantic Coast Line
Chicago Burl. & Quincy.
_.
333,063
285,025
261,763
245,221
233,145
c226,617
Michigan Central
Atch. Top. 8s Santa Fe._
Mo. Kansas 8s Texas
Philadelphia 8c Reading.
N. Y. N. H. & Hartford
PhUa. Balt. & Wash
Kansas City Southern
Oregon & Washington.
■
_
Pere Marquette
Chesapeake & Ohio
P. M. & O
Missouri Pacific..
Central of Georgia
Chic. MU. & St. Paul...
Toledo & Ohio Central..
...
Lehigh Valley.
Long Island.
_.
Texas & Pacific.
St. Louis Southwestern.
Wabash
Virginian
Hocking Valley
$ 144,979
C135.907
135,080
131,079
122,160
121,820
117,173
114,289
111,695
106,066
103,919
101,921
Representing 36 roads
in our compilation.- $9,356,474
Decreases.
Northern
Pacific
...
208,754 Delaware Lack. & West.
199,480 San Ped. Los An. & S. L.
196,014 Rock Island
178,662
161,209
Representing 4 roads
in our compUation.
157,114
150,298
.
$450,642
160,290
122,263
105,470
$838,665
Note.—All the figures in the above are on the basis of the
returns filed
with the Inter-State Commerce Commission.
Where, however, these re¬
turns do not show the total for
any system, we have combined the separate
roads so as to make the results conform as
nearly as possible to those given
in the statements furnished
by the
companies themselves.
a These figures cover
merely the operations of the New York Central itself.
Including the various auxiliary and controlled roads, like the Michigan Cen¬
tral, the Lake Shore, the “Big Four,” the “Nickel
Plate,” 8sc., the whole go¬
ing to form the New York Central System, the result is a gain of
$1,152,742.
c These figures are furnished
by the company.
y These figures represent the lines
directly operated east and west of
Pittsburgh, Eastern lines showing $355,285 increase and the Western lines
$623,439.
For all lines owned, leased, operated and
controlled, the result
for the month is a gain of $1,643,375.
-
PRINCIPAL CHANGES IN
Increases.
NET EARNINGS IN JULY.
Decreases.
Rock Islandil._
$388,44B
Chicago Burl. 8c Quincy._
388,259
Valley
Delaware Lack. & West..
325,805
Kansas City Southern
N. Y. Cent. 8c Hud. Riv.
o265,895
Missouri Pacific
*
cl98,573
Representing 4 roads in
San Ped. Los An. 8c S. L.
178,564
our compUation
$1,061,326 Elgin Joliet 8c Eastern
170,057
Decreases. Boston 8s Maine....
163,061
Pennsylvania
y$973,907 Baltimore 8s Ohio
154,240
Northern Pacific.
492,417 Great Northern
153,781
Lake Shore 8c Mich. Sou.
432,002 Southern Pacific
111,667
Clev. Cin. Chic. & St. L._
427,089
Union Pacific
402,376
Representing 17 roads
Louisville & NashvUle...
in our cbmpilation.-.$5,622,384
396,249
Illinois Central
■
•
<
.
$566,308
267,411
115,730
111,877
__
Erie
Yazoo 8c Miss.
_
a These figures cover
merely the operations of the New York Central
Itself.
For the New York Central
System the result Is a loss of $193,643.
c These figures are
furnished by the company. .% '
>
V These figures represent the lines
directly operated east and west of
Pittsburgh, the Eastern lines showing $476,950 decrease and the Western
lines $496,957 decrease.
For all lines owned, leased, operated and con¬
trolled, the result is a loss of $945,261.
r
The part played by rising
expenses in reducing net
and the general character of the movement is
perhaps
most
strikingly disclosed when the roads
in groups or
arranged
geographical divisions;; It is then found
are
-
geographical sections records
larger or smaller improvement in gross earnings, while
at the same time every section with one minor excep¬
tion records a loss in net. The result by groups is set
that each of the
seven
which
out in the table
we now
present.
SUMMARY BY GROUPS.
Section
or
—Gross Earnings
Inc. (+) or
1909.
Dec. (—).
Group—
1910.
10,804,219
51,504,695
31,714,132
24,723,822
50,252,399
33,721.513
14,481,485
%
10,660,904
48,966,360
29,532,380
22,313,938
48,087,074
32,381,866
13,937,437
217,202,265
205,879,959
July—
Group 1 (24 roads). New England.
Group 2 (127 roads), East & Middle
Group 3 (89 roads). Middle West..
Groups 4 A 5 (138 roads), Southern
Groups 6 A 7 (95 roads), Northwest
Groups 8 A 9 (156 rds.), Southwest
Group 10 (51 roads). Pac.ttc Coast.
Total
[VOL.
THE CHRONICLE
688
(680 roads)
$
l
+1,339,647
+ 544,048
1.35
6.19
7.39
10.80
4.50
4.14
3.90
+ 11,322,306
5.50
+143,315
+2,538.335
+2,181.752
+2,409,884
+2,165,325
BANKERS AND TRUST GO’S
public sales of bank stocks this week aggregate
285 shares, of which 247 shares were sold at the Stock
Exchange and 38 shares at auction. Transactions in trust
company stock were limited to a sale at auction of one
5-share lot.
Twelve shares of National City Bank stock
were sold at the Stock Exchange at 380-384, an advance
of 20 to 24 points over the price paid one month ago, when
the last previous public sale was made.
National Bank of
Commerce stock has advanced 4 points over last week’s
quotation on sales at the Stock Exchange amounting te
ITEMS ABOUT BANKS,
—The
127 shares.
Shares.
Group No. 1
Group No. 2
Group No. 3
Groups Nos. 4 A 6.
Groups Nos. 6 A 7.
Groups Nos. 8 A 9.
Group No. 10
.
.
.
.
Inc. (+) or
Dec. (—).
1909.$
1910.
$
1910.
1909.
7,471
23,615
25,599
35,711
60,076
63,395
15,297
7,385 3,638,447 4,011,189
23,683 16,234.715 17,069,143
25,388 8,942,581 10,402,472
35,170 7,083,327 7,006,078
59,356 16,927,312 17,593,603
51,922 9,173,957 10,036,990
14,562 6,357,380 6,880,285
,
$
—834,428
—1.459,891
+77,249
—666.291
—863,033
—522,905
—4,642,041
221,164 217,466 68,357,719 72,999,760
Total
—372,742
BANKS—New York.
*12
City Bank, National
*127 Commerce, Nat. Bank of
%
6.36
384
Aug. 1910— 360
199
202
201 H
150
150
150
1910— 198
1910— 150
1910— 186
1910— 100
1910— 360
187
187
187
100
100
•88 Park Bank. National
350
TRUST COMPANY—New York.
5 Lawyers’ Tit. Ins. A Tr. Co_ 257
360
355
257
257
Sept. 1910— 265
*
8.60
7.60
previous sale
High. Close.
384
100
13 Northern Bank
9.29
4.89
14.03
1.10
3.79
Last
Low.
380
Sept.
Aug.
Sept.
Aug.
Sept.
25 Fourteenth Street Bank....
•20 Fourth National Bank
Net Earnings
Mileage
LXXXXI
Sold at the Stock Exchange.
Exchange membership was posted
week, the consideration being $66,000,
—A New York Stock
for transfer
this
compares with $66,500 and $68,000, the two last
preceding transactions.
—George E. Roberts was sworn in as director of the
United States Mint on the 14th inst. This is the second
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
time that Mr. Roberts has assumed the office.
In the
Groups IV. and V. combined include the Southern States south of the Ohio and
east of the Mississippi River.
present instance he is successor to A. Piatt Andrew, who
Groups VI. and VII. combined Include the northern peninsula of Michigan, all of
has become Assistant Secretary of the U. S. Treasury.
Minnesota, Wisconsin, Iowa and Illinois; all of South Dakota and North Dakota, and
Missouri north of St. Louis and Kansas City; also all of Montana, Wyoming ana
—The feature of the week in which financial interest
Nebraska, together with Colorado north of a line parallel to the State line passing
centered was the cotton-bill-of-lading question.
through Denver.
As matters
Groups VIII. and IX. combined Include all of Kansas, Oklahoma. Arkansas ana
stand
now, the foreign bankers have declined to accept the
Indian Territory; Missouri south of St. Louis and Kansas City; Colorado south of
Denver; the whole of Texas and the bulk of Louisiana; and that portion of New
validation plan which has lately been adopted here, and have
Mexico north of a line running from the northwest comer of the State through
decided to adhere to their resolution of last July to decline to
Santa Fe and east of a line running from Santa Fe to El Paso.
Group X. Includes all of Washington, Oregon, Idaho, California, Nevada, Utah
accept
drafts against bills of lading after October 31 unless
and Arizona, and the Western part of New Mexico.
guaranteed through exchange buyers in this country; on
Last year in July results were very favorable.
Our the other hand, the bankers here hold that the bills are
own compilations
then, covering 218,506 miles of now safeguarded in the validation certificate, and have
road, showed $23,529,848 increase in gross and $10,- decided that they cannot accede to the demand for a guaran¬
The announcement concerning the stand of the
ty.
109,278 increase in net. Complete returns published European bankers was received in cable advices to the daily
some time later by the Inter-State Commerce Com¬
The decision
press, following their conference on the 14th.
mission itself, and covering 234,500 miles, recorded was reached, according to the New York “Journal of Com¬
merce” after a prolonged discussion by representative
$24,719,084 gain in gross and $11,083,420 gain in net.
bankers of England and the Continent, and the statement
In July 1908, of course, there were large losses in both
issued at the conclusion of the meeting said:
NOTE.—Group I. Includes all of the New England States.
Group II. includes all of New York and Pennsylvania except that portion west
of Pittsburgh and Bullalo. also all of New Jersey, Delaware and Maryland, and
the extreme northern portion of West Virginia.
Group III. includes all of Ohio and Indiana; all of Michigan except the northers
which
and net. Our compilation at the time showed
a shrinkage of $27,262,110 in gross earnings and of
$6,571,734 in net earnings. The compilations of the
Inter-State Commerce Commission, published a long
time subsequently, and covering substantially the
whole railroad mileage of the country, made the fall¬
ing off for July 1908 $33,332,095 in gross and $8,326,-
tlon scheme submitted
the
following
we furnish the
For 1909 and 1908
back to 1897.
A
Gross
Year
Given.
July.
..6981
..7981
...8981
..9981
1900
...1091
...
..2091
...3091
1904
..5091
...6091
..7091
...8091
..9091
..0191
...
Net Earnings.
Earnings.
Year
Preceding.
%
Year
Given.
Inc. (+) or
Dec. (—).
%
$
+242,245
54,228.118 +3,955,275
62,339,710
+ 833,264
61,434,246 + 10.770,068
77,671,358 + 5.672,524
86.920,806 + 12.413.732
97,691.960 + 5,268,289
115.691,747 97,856,175 + 17.835.572
106.955,490 113,678,564 | —6,723,074
118,404,552 107,325,222 + 11,079,330
129,386.440 114,556,367 + 14.830.073
137.212,522 118,666,092 + 18,546,430
194.634.612 227,966,707 —33,332.095
219,964.739 195.245.655 +24.719.084 1
217.20 j .265 205,879.959 + 11,322.306
61,132.768
58,183.393
63.172.974
72.204.314
83.343,882
99,334,538
102.960.249
-
50.890,523
%
15,556,978
19,091,236
19,971,051
24,377,447
26,687,209
34,925,716
33,634.610
38,296,851
34,398,740
43.594.553
42.808.250
41.891.837
66.856,745
78,350,772
| 68,357.719
Year
Preceding.
Inc. (+) or
Dec. (—).
%
15,496,273
16,530,293
20,694,375
19.672.510
25,989.927
27,680,869
33.824.597
31,846.698
37.353,409
%
+60.705
+2,560,943
—723,324
+4,704.937
+697.282
+7,244,847
—189,987
+6,450,153
—2,954,669
+3,338,422
+6,089,834
40.256,131
36,718,416
39,448,771 +2,443,066
75,182 962 —8,326,217
67,267,352 + 11,083,420
72,999,/b0 —4,6 2,041
1898 the number of roads Included for the month of July
was 130;
J897*
H2: .to JS5* “3; ,n l899> ll4: ,D 1900> 117: ,n 1901* 108'* ,n 1992. 103;
1903.1()6; to 1904, 98; In 1905, 94; In 1906.90: in 1907. 82; In 1908. 792: in 19C
692:
In 1910, «80.
We no onger Include the Mexican roads
operations of the anthracite coal roads In our totals.
or
the coal-mlnl
meeting of the sub-committee of the American
European interests, they made the following cable
State Commerce
Year.
guaranty,
while still
Bankers’
Association took place on Thursday, when their decision to
adhere to the position which they had previously maintained,
was arrived at.
In answer to the advices received from the
the Inter-
totals, but for preceding years we
give the result just as registered by our own tables
each year—a portion of the railroad mileage of the
country being always unrepresented in the totals, ow¬
ing to the refusal of some of the roads in those days to
furnish monthly figures for publication.
Accordingly,
prepared through their committee to meet a deputation of the American
Bankers’ Association In London.
The banks will decline from Oct. 31 to
accept drafts against bills of lading unless guaranteed through exchange
buyers In America, both In regard to the signature and the possession of the
cotton by the carriers at the time of Issue.”
July comparisons
we use
protection desired by European cotton-accepting banks.
and falling the production of any other satisfactory scheme of
the Conference confirms and adopts the resolution of July 20,
217 in net.
In the
that It cannot regard the bllla-of-ladlng-valldaby the American Bankers’ Association as affording
“The Conference regrets
gross
reply:
decision, and cannot but feel that It was reached
through misapprehension. We have accomplished much In securing the
validation certificate, thus placing the business on a safe basis.
Further
consideration of bankers’ guaranty Is absolutely out of the question,
being Incompatible with correct banking principles.
This Is final. Situa¬
tion could not be changed by our committee going to London, but of course
we would welcome your deputation In New York, where all data and Infor¬
mation are obtainable, and where railway and cotton people also could
be heard.
We are confident this would lead to a better understanding
We deeply regret your
•
with mutually satisfactory results.
Reports in circulation yesterday intimated that the matter
might be reconsidered by the European bankers at a meeting
to be held next Thursday.
The controversy, as is known,
grew
out of irregularities through the improper use
of bills of lading
disclosed in the Knight, Yancey
failure at Birmingham last spring.
It is stated that
the
guaranties which are being insisted upon from
abroad are not regarded as essential by all the foreign
banks, and it is even asserted that strong private banking
interests of London have evidenced a willingness to finance
the bills of lading on the validation plan.
Sir Edward H.
Holden, of the London City & Midland Bank, and Chairman
of the Foreign Bankers’ Committee, which is opposed to the
validation proposition, is said to have decided to come
here to confer with the bankers on this side of the water
with reference to the subject in controversy.
The sub¬
committee of the American Bankers’ Association in charge
Sept. 17
1910.)
TH® CHRONICLE
of the matter consists of Walter E. Frew, Vice-President of
the Corn Exchange Bank; F. I. Kent, Vice-President of
the Bankers1 Trust Co.; Joseph T. Talbert, Vice-President of
the National City Bank; Gilbert G. Thorne, Vice-President
of the National Park Bank, and W. H. Porter, President of
the Chemical National Bank.
n
time to have enabled the Comptroller to force
the administration of the bank's affairs.
;n
a correction
His deeisjon to
each of the districts himself is made, he annppoees,
view of the fact that the excuses offered in practically
every case by the examiner were that he was unable to
exactly determine the true condition of the bank; that the
officers tand directors would not correct the conditions
wrought to their attention by him, <fcc. In his work Mr.
; Jurray will be accompanied and assisted by Oscar L.
canvass
n
—Preliminary steps in the organization of a national cur¬
association in Chicago were taken at a meeting of
representatives of twelve of the city's national banks held
at the Clearing House on the 9th inst.
A committee of three Telling, formerly a national bank examiner and now Chief Qf
was appointed to work out and report on plans of organiza¬
the Division of Reports in the Comptroller's office.
-—At the ninth annual convention of the National Asso¬
tion, this committee consisting of Frank O. Wetmore, VicePresident of the First National Bank, Chairman; W. T. ciation of Supervisors of State Banks, held in
Washington
Fenton, Vice-President of the National Bank of the Republic, on the 12th, 13th and 14th inst., Comptroller Murray made
and B. C. Sammons, Vice-President of the Corn Exchange an elaborate and very interesting speech on the general sub¬
National Bank. The name under which the association let of bank supervision and the co-operation between fed¬
will be formed will be the National Currency Association eral and State authorities.
During the course of the meeting
of the City of Chicago.
The meeting was attended by it was nnppoficedj from ^Washington that within the p&xt few
George M. Reynolds, President of the Continental & Com¬ weeke the, few national banks throughout the country which
mercial National Bank; Ernest A. Hamill, President, and are rated as weak will be given a last
opportunity to
B. C. Sammons, Vice-President, of the Corn Exchange
strengthen themselves or get out of business. The 105
National Bank; John Fletcher, Vice-President of the Drov¬ examiners under the National Government have, it is
ers' Deposit National Bank; J. B. Forgan, President of tjie stated, been instructed to cany that ultimatum to
every
First National; V. E. Nichols, Vice-President of the First ooard of directors which needs it.
It is further reported
National Bank of Englewood; W. A. Tilden,.President of the that the statement of condition of every national bank
Fort Dearborn National; William Lorimer, President of the at the dose of business on September 1, now
being com¬
La Salle Street National; W. A. Heath, President of the Live
piled, will be the last permitted to any national bank
Stock Exchange National; E. F. Brown, President of the to show its capital impaired, any reduction of its reserve
Monroe National Bank; W. T. Fenton, Vice-President of the under the limit and bad paper in its vault or any
concealed
National Bank of the Republic; D. R. Forgan, President liabilities. Acting on the
principle that it is better tp
of the National City Bank, and E. L. Wagner, President
liquidate a weak bank, pay off the depositors, and save
of the National Produce Bank.
some of the investment for the shareholders,
Comptroller
—Steps have also been taken to form a national currency Murray will use all the authority of his office to compelsound
association in Albany.
A meeting of representatives of banking in the strong institutions and force the weak ones
eleven national banks of that and adjacent cities was held in to strengthen or retire.
,»
the quarters of the National Commercial Bank of Albany on
—The “Journal of Commerce" is authority for the report
Thursday, the institutions represented being three Albany that the bank statements by cities and States to be issued
banks, four Troy banks, two Schenectady banks and the by Comptroller Murray under the September 1 call will bs
national banks m Cohoes and Watervliet.
The form of in a
slightly new form. In each case the surplus reserve pf
by-laws adopted by the New York City Association will be the locality or State will be indicated, thus making an official
utilized by the Albany association.
Another meeting will be record of the surplus reserve, which has not been customary
held at which its organization will be perfected.
heretofore. The percentage showing legal reserve will also,
—The experiment of transferring national bank examiners it is said, be computed in a slightly different way to show
from one district to another, which the Comptroller of the the percentage of surplus legal reserve.
Currency announced some months ago would be tried, was
—Through the reduction in the sfee of paper currency
put into practice last week, when twenty of the examiners which the Treasury Department contemplates in connection
were shifted.
Mr. Murray's object is to ascertain whether with its
prospective plans for systematizing the designs pf
the results from this policy will be as good, or better, than United States notes and
gold and silver certificates, an annual
those secured under the method of keeping an examiner
saving of $612,603 to the Government, it is thought, would he
continuously in one district. In an announcement which effected. The Department’s intentions with regard to its
he has made, he states that among bankers and others
plans to reduce the number of miscellaneous portraits and
there is a wide difference of opinion on this subject.
Some designs on issues now current from nineteen to nine, was
claim that an examination by an examiner who is a stranger made known
early last year, and it is now announced that a
to the district, and who is neither acquainted with the name
special committee of Treasury officials, under authority of
and financial standing of the makers of paper found in the
Secretary MacVeagh, has been at work for months on the de¬
banks nor the intrinsic value of most of the collateral to loans, details involved in the
change of designs and the suggested
consisting of the stocks and bonds of local concerns, cannot reduction in the size of paper currency. (This committee is
determine the true condition of the bank.
It is also the
reported to have canvassed with equal candor the advan¬
opinion of many that when an examiner is thoroughly fa¬ tages of and the objections to the plan. Secretary Mac¬
miliar with the intrinsic value of the stocks and bonds of local
Veagh, in a statement issued on the 9th concerning the
concerns in a certain district, and the names and financial
movement in contemplation, said in part:
I am hopeful that the public will consider favorably, as the Treasury
responsibility of the makers of paper carried in the banks to
which he is assigned, he is in a much better position to de¬ Department Is Inclined to consider favorably, the economies and other
advantages which would result ultimately from the use of a somewhat
rency
termine the true valuation of the assets of the bank under
examination.
On the other hand, Mr. Murray points out,
those who favor transferring examiners from one district to
another at frequent intervals argue that by doing so a very
much more independent and thorough examination into the
affairs of the bank
be made
by an examiner who is un¬
influenced by local conditions or personal reasons. From
the results shown by the experiment Mr. Murray will decide
whether or not the new plan will be permanently adopted,
or whether the present system of
having one examiner work
in a specific district indefinitely will remain undisturbed.
—Mr. Murray has also decided upon another move in
can
connection with his efforts to secure more efficient super¬
vision of the banks under his jurisdiction.
He announces
his intention to personally visit the various districts to
ascertain at first hand why an examiner is unable to dis¬
cover
and report the true condition of
a
bank.
Mr. Murray
makes the statement that in almost every case of a nationa
bank failure since he has been Comptroller the catastrophe
could have been averted had the national bank examiner
determined the true condition and reported his findings
smaller paper currency.
The present size of the paper currency Is 3,Q4
Inches wide by 7.28 Inches long, and It has been suggested that our notes be
reduced to 2 H inches wide by 6 inches long, the same size as the Philip¬
pine paper currency, which h£s proved an .unqualified success, and a sl*e
which, when It Is not brought Into direct comparison with the present note,
and when not scrutinized, would not, to most people, present a noticeable
change.
From the Treasury point of view, the proposed reduction would result In
estimated saving to the Government of $612,603 every year.
This
an
would be gained from various sources. For example, we would
print five notes whore we print four now, and the Increased production of
25% more notes with the same labor as at present, carried through all the
various processes of wetting, examining, counting, drying, numbering,
sealing, separating, &c., would save more than $$00,000 a year alone. The
saving in the cost of paper would be almost $90,000, and the decrease In the
oost of plate printing would amount to.almost $270,000.
These, with a
possible reduction of the force In the redemption division of the Treasurer's
office, due to the smaller number of notes redeemed because of the longer
life of the smaller notes, represent the chief Items In this estimate of$612,economy
000.
.
.
No special legislation Is necessary to enable the Government to reduce
the size of United States notes and, gold and silver certificates.
In order,
however, to effect a reduction In tbeislze of national baak currency wlthout
legislation, and at the same time continue the present multiplicity of de¬
signs, It would be necessary to eliminate the 12,000 plates now In. use and
to engrave as many more.
This could be done, I presume, only by th«
Government’s assumption of the expense of.thqnnw plates, and aa each plate
costs;$75, the total cost o|*the.new^serles would, reach about $9.90,000. It
690
THE CHRONICLE
Would be qu te possible, however, to use tbe same uniform engraved plates
for all banknotes, and to print later by separate process the name of the
Individual bank upon the notes which that bank was to Issue.
*'
Another plan would be to secure legislative authority for a uniform cir¬
culating note, which would do away with the necessity for the special notes
for Individual banks.
Only 200 or 300 plates would be needed, and they
would cause the banks no appreciable expense.
-
;
The only objection to adopting smaller notes which seems
to be of special importance, Mr. MacVeagh points out, is
that for some time two sizes of paper money would be in
and bank tellers and the business public would be cor¬
respondingly inconvenienced. This objection, he believes,
would be overcome largely, if not almost wholly, by prepar¬
ing in advance enough of the new notes so that they could be
Exchanged for old notes on a fixed date, at all Sub-Treasuries,banks and other large financial institutions. Mr.
•MacVeagh summarizes a number of expected advantages
-through the plans contemplated, aside from the main one,
which would permit the annual saving of over $600,000.
"Among the other advantages he cites the following: “In
<time of panic or money stringency the proposed uniform
Currency would be particularly helpful. The banks could
"then send the necessary amount of bonds to the nearest
Sub-Treasury and get the equivalent in currency. This
could be done in the short space of time required for counting
the bonds and making the book entry.
In 1907 banks send¬
ing to Washington for their own notes had to wait sometimes
-three or four weeks before the currency could be supplied.”
—A clearing-house association has been established in
Gary, Ind., by the seven banks of the city; A. B. Kellar,
Cashier of the Gary State Bank, s Chairman of the executive
committee of the new organization
It is reported that a
new bank, the Security Trust &
Savings Bank, has been
use*
ormed,
—The Equitable Trust Co. of this city has called a special
meeting of its stockholders to vote upon a proposition to
authorize an extension of the business and powers and rights
of said corporation so as to include the transaction by said
.
corporation of its ordinary business by branch offices in
London, Eng., and in Paris, France.” The meeting is to
be held on the 26th inst.
The company already operates
foreign branches, and the proposed action results from the
recent decision of State Attorney-General
O’Malley with
espect to the establishment of foreign branches by New York
trust companies.
Mr. O’Malley held that such institutions
are not empowered to
operate in any city not named in the
certificate of incorporation, and not even in such cities
without the written approval of the Superintendent, and
unless complying with the conditions specified by
law in
respect to capital. In the case of the Equitable Trust,
chartered by Special Act as the Traders’ Deposit Co., the
name being later
changed to the present title, Mr. O’Malley
in his findings said “the charter makes no mention of
any
city in which business is to be conducted, and my conclusion
is the same as in the other cases, namely that the
provisions
of the general law are applicable.”
Our issue of Aug. 20
contained
an
extended reference to the decision.
—A
charge of grand larceny was preferred on Wednesday
against Adolph Rothbarth, the American representative of
the European house of Rothbarth &
Co., dealers in
hops. The specific charge has to do with the larceny of
$10,040 on Sept. 1^1908 from the Mercantile National Bank
of this city, although it is said that the accused is indebted to
the bank to the extent of
something like $34,000, the money,
it is understood, having been obtained
through misrepre¬
.
sentations and false statements of his assets and liabilities.
In the same manner he is also said to have secured
$75,000
from the Liberty National Bank.
Rothbarth also had
dealings with the National Park Bank, but in this institu¬
tion he is reported to have at this time a balance in his favor.
The firm of which he
was
the local
representative is
com¬
posed of his three brothers, Leopold, Martin and Justus
Rothbarth, and it has offices at Frankfort, Germany,
London and St. Petersburg.
It has an excellent stand¬
ing, and the present irregularities rest only upon the shoulders
of
the
American representative, who
when arraigned
on
Wednesday pleaded guilty to the charge against him. His
was fixed at $20,000.
Both the Mercantile and the
Liberty expect to recover the losses from the foreign house.
bail
President Frederick B. Schenck of the
.
credited with the following statement
Liberty National was
on Wednesday with
regard to his institution’s position in the matter:
;
We have been doing business with
the firm of Martin Rothbarth & Co.
three years past.
They not only do business in this country, but
also abroad.
The loans given to Adolph Rothbarth in behalf of his firm
for
over
cover a
period of about three
-amounts and on last
years.
January they
During that time they
were all
paid
up.
were of various
Later Rothbarth be¬
[Yol.
lxxxxi.
gan to renew his borrowing. Upon a statement made by him on Aug. 31
which made it appear that the firm’s credit aggregated $1,200,000, the
loans were made.
This statement was signed by Adolph Rothbarth repre¬
senting his firm.
Naturally we considered the firm sufficiently responsible
to give them the desired
loans, which totaled about $75,000.
Some time later, when Rothbarth secured loans from another bank, we
learned something that made us suspect his statement.
I have not seen
Rothbarth, but I understand
he has talked over the matter with Mr. Nash,
President of the Mercantile National Bank.
We have not taken any steps
to prosecute him, because we do not think it is
necessary, in view of the
action already taken by the Mercantile National.
We will, of course, en¬
deavor to recover the amount of these loans from the firm.
Rothbarth is reported to have begun speculating in 1905,
and to have suffered severe losses
during the panic of 1907,
and the questio nable operations he employed are said to have
followed
an
endeavor to
recover
his losses.
%
—The Corn Exchange Bank of this city will open a new
branch on Monday next in the
Pennsylvania RR. Station,
at 7 th Ave. and 33d St.
—The
branch of the
Century Bank, at 3d Ave. and
opened for business on Thursday, the 15th
inst.
Opportunity for an inspection of the new branch
before its regular opening was
given on Wednesday evening,
when the quarters were on public view from 7 to 9 o’clock
p. m.
Arthur T. Strong is Manager of the branch. For
the convenience of customers there is a
special interest
department, a ladies’ department and safe deposit depart¬
47th
new
St.,
was
The main office of the bank is at 5th Ave. and 20th
ment.
St., and it has
an
uptown branch at Broadway and 104th St.
—P. R. G. Sjostrom, Treasurer of the United States
Worsted Co., has been elected President of the
HungarianAmerican Bank of this city, to succeed William E.
Holloway,
resigned.
Mr. Holloway had been identified with the bank
since last February, and had previously been President of the
Montgomery Bank & Trust Co. of Montgomery, Ala. He
has
city
of
now
as
become associated with the Northern Bank of this
Vice-President.
—The Westchester Avenue Bank of New York is the name
a new State institution
which has been recently incor¬
porated with
a
capital of $100,000 and
a
surplus of $50,000.
It will be located near Freeman Street, Borough of the Bronx.
John Tatlock will be President, Warren Green,
Vice-Presi¬
dent, and Frank D. Pitkin, Cashier. Besides the officials
mentioned, Zoheth S. Freeman, a Vice-President of the Lib¬
erty National Bank, and F. L. Lee are on the directorate.
—Marshall S. Driggs, Vice-President and director of the
First National Bank of Brooklyn Borough and President of
the Williamsburgh City Fire Insurance Co., died
suddenly
at his New Canaan, Conn., home on the 15th inst.
He was
in his seventy-seventh year.
Mr. Driggs had formerly been
President of the New York Board of Underwriters. In ad¬
dition to the above connections, he was at the time of his
death a member of the New York Chamber of
Commerce,
Surety Co., the’Empire State
Surety Co. and the Casualty Co. of America, the American
Malting Corporation and the American Malting Company.
—A reorganization of the Brooklyn Bank of
Brooklyn
Borough has occurred. Charles B. Hobbs has been elected
President to succeed Daniel Underhill resigned, and
George
A. Vaughan has been made an additional Vice-President.
Mr. Hobbs is a member of the New York law firm of
Gifford,
Hobbs & Beard, and Mr. Vaughan is Secretary and Treas¬
a
director of the National
urer
of the Island Cities Real Estate Co.
The latter organ¬
ization, according to the Brooklyn “Eagle,”
in 1909 to take
now
was
organized
the collateral of the Gow estate, and is
in absolute control of the bank.
The following are re¬
over
ported to have retired from the bank’s directorate to make
way for the new interests: Otto Wissner, who is said to re¬
tain his stock holdings in the bank; Frank H.
Tyler, John
F. Gavin, Jeremiah G. Tuthill and Ludwig Nissen.
—The
new
Yonkers National Bank of
Yonkers, N. Y.,
organized with $200,000 capital and a surplus of $50,000,
began business on Monday the 12th inst. The bank is lo¬
cated on South Broadway, in quarters adjoining the Putnam
RR. Station.
The work of reconstruction, which has been
for several months past, in the building purchased
by the bank, is still in progress, but is expected to be com¬
pleted in another month. The institution is under the man¬
agement of D. M. Hopping, President; Thomas F. Larkin,
Vice-President, and Frank O. Freethy, Cashier.
—Henry C. Stevens, Cashier for 58 years of the Newport
National Bank of Newport, R. I., died on the
23djult.
Mr. Stevens was 80 years of age and had been connected
under way
with the institution for 62 years.
—The
proposition to increase the capital of the Central
Philadelphia from $750,000 to $1,000,000
National Bank of
Sept.
THE CHRONICLE
171910.]
unanimously approved by the stockholders on Wednes¬
The new issue is offered pro rata to the present share¬
holders at $100 per share, the privilege to subscribe expiring
was
day.
Oct. 4.
—The
of
organization of the Haddington Title & Trust Co.
Philadelphia was perfected on the 13th inst., when William
C. Smith
enden
elected President; Judson Kerr and John Wolfchosen Vice-Presidents, and John Snyder was
was
were
made
Secretary and Treasurer. The new institution will
have a capital of $125,000 and its stock will be sold at $120
per share.
It will locate at Sixteenth and Market streets,
where it will erect a building of its own.
-—A dividend in liquidation of 5% has been declared in
favor of the stockholders of the National Deposit Bank of
Philadelphia, payable Sept. 1. The distribution is .the
,
first to be made to the stockholders since the institution
closed its doors on July 14 1908.
The depositors were paid
in full, with interest at 6%, final payment having been re¬
ceived
by them last December.
paid in July 1906, the second, 5%, in April 1908, the
making an aggregate of 30%. The failure occurred
three
in October 1905.
,
—The U. S. Circuit Court of
Appeals on Aug. 24, at Phila¬
decision sustaining the judgment
of the Circuit Court in the case of David J. Richardson, who
was convicted last November of making false entries in the
books of the failed Cosmopolitan National Bank of Pitts¬
burgh, and sentenced to five years' imprisonment. The
case will be appealed to the United States
Supreme Court.
The accused was Cashier of the bank, which suspended in
September 1908.
delphia, handed down
—The
new
a
Fletcher-American National Bank of
Indianap¬
olis, representing a consolidation of the Fletcher National
and the American National banks, began business on the
6th inst.
The proceedings under which the union was
accomplished were ratified by the stockholders of the
uniting banks on Aug. 31. The consolidated institution
starts with $2,000,000 capital and a surplus of $1,000,000.
Stoughton A. Fletcher is President and John Perrin is
Chairman of the board.
The full list of officials appeared
in our issue of September 3.
—The consolidation of the Sangamon Loan & Trust Co.
and the Lincoln Bank of Springfield, Ill., effected under the
name of the former, was ratified by the
respective stock¬
holders on the 3d inst.
As stated in our issue of July 30,
the enlarged institution has a capital of $400,000.
George
Pasfield, President of the trust company, is at the head of
the consolidated institution, and Herman Pierik, who was
President of the Lincoln Bank, is Vice-President.
—Several noteworthy transactions in the stock of the
Continental & Commercial National Bank of Chicago have
recently occurred. The banking house of Lee, Higginson
& Co. of Boston is reported to have been the purchaser last
month of 500 shares of the bank's stock, the price paid
being in the neighborhood of $140,000, according to the
report. A similar purchase is said to have been effected by
Lyon, Gary & Co., an investment house of Chicago, the
price in this instance, it is understood, being near the market
quotation of 237. The Deering Estate, according to the
Chicago “Tribune” took over 1,000 shares of the bank several
months ago; but the purchase price has not been made known.
The bank has a capital of $20,000,000.
It is announced that
the consolidated bank will pay its first
quarterly dividend
of 2J4% on Oct. 1.
The Continental had paid 10% on its
capital of $9,000,000 and the Commercial National 8% on
its $8,000,000 capital.
—Chicago's new Standard Trust & Savings Bank, or¬
ganized by Charles S. Castle, who is its President, began
business on Tuesday, the 6th inst., at 157 La Salle St.
The
new institution starts with
$1,000,000 capital and $250,000
surplus. Mr. Castle resigned in June as Acting Cashier of
the Continental National Bank of Chicago to undertake the
organization of the new banking venture. Prior to the
arrangements
a year ago, under which the interests of the
Continental and the American Trust &
Savings Bank became
unified, he was Cashier of the latter. In the management of
the Standard Trust & Savings Bank Mr. Castle is associated
with W. F. Van Buskirk as Vice-President and J. M. Miles
as Cashier.
Mr. Miles was elected to the
cashiership
a
week
resigning as Assistant Bank Examiner of the Chicago
Clearing-House Association to enter the new concern.
agq,
—George W, Fitzgerald, formerly assorting teller in the
Sub-Treasury at Chicago, was arrested on the 14th
inst. on a charge alleging the theft of $173,000, the amount
of the shortage discovered in the accounts of the Treasury at
that point in February 1907.
The arrest, it is statedwas
based on a secret indictment returned by the Federal grand
jury on Feb. 17 1910. Bail was fixed at $50,000. This
is the second time the accused has been arraigned in connec¬
tion with the shortage.
He was arrested in August 1908* but
was freed by Judge Chetlain on Sept.
10 1908, the latter's
action, it was reported at the time, being due to the fact that
Assistant U. S. Treasurer Boldenweck, in charge of the Sul>
Treasury at Chicago, had refused to testify, having been in¬
structed not to disclose evidence gathered by the Federal
U. S.
authorities.
—The
Trust &
proposition to increase the capital of the Western
Savings Bank of Chicago from $1,000,000 to $1,250,-
000
ratified
was
on
the 8th inst.
The
new
stock is to be is¬
sued to
—A third dividend was declared on the 26th ult. to cred¬
itors of the failed Enterprise National Bank of Allegheny,
Pa.
The present payment is 5%; the first dividend, 20%,
was
691
complete the purchase of the assets of the Prairie
National Bank by the Western.
The merger went into effect
last month.
The Prairie National had a capital of $250,000.
Other details concerning the merger were given in the “Chron¬
icle” of Aug. 6 and 13.
—At a special meeting of the stockholders of the Harris
Safe Deposit Co. of Chicago on the 10th inst.,
authority was
given to increase the capital stock from $1,250,000 to $2,000,000, and to increase the directorate from nine to thirteen
members.
The meeting was adjourned to
Sept. 28, when it
is expected the increase of stock will be made and the new
directors elected.
The company owns the new Harris Trust
Building, which is now being erected in Monroe Street, and
is to be the future home of the Harris Trust &
Savings Bank.
Moyer, who was formerly prominent in New
York banking circles, has been elected a Vice-President of the
La Salle Street National Bank of Chicago, which
began busi¬
ness last May.
Mr. Moyer had been President of the National Shoe & Leather Bank of New York, which consoli¬
dated in 1906 with the Metropolitan Bank.
—The purchase of a majority interest in the Home Savings
Bank of Des Moines, Iowa, by W. B. Lutz of Albia, Iowa,
—William L.
is
reported to have recently been effected. It is stated
Lutz takes over most of the holdings of Presi¬
dent A. C. Miller and in addition has acquired the in¬
that Mr.
terests of other directors.
to
Mr.
Miller has been re-elected
the
presidency and Mr. Lutz has been elected Vicelatter will dispose of his holdings in
Bank, of which he is Cashier, and will
locate permanently in Des Moines.
The Home Savings
Bank has a capital of $50,000 and deposits of over $1,000,000.
The
President.
the Albia State
—The
Old
National
Bank of Battle
Creek, Mich., in
anniversary, which it is now
celebrating, has published a book entitled “Sixty Years
of Banking in Michigan,” in which the growth of the institu¬
tion from its start as the private bank of Lloyd G. Kellogg in
1851 is interestingly sketched. The bank obtained one of the
early charters granted under the National Bank Act of 1865
and is now operated under its third successive charter.
It issued its first statement on Oct. 2 1865, having at that
time a paid-in capital of $80,000, and deposits of $38,821; it
now has deposits of over
$3,300,000. The institution coni
ducts a commercial and savings bank business, and its
system
of banking by mail covers a radius of over forty miles around
Battle Creek.
During the sixty years the bank has had only
three Presidents; the present incumbent is Edwii* C. Nichols,
who has occupied the office for fifteen years.
The Old
National is styled “The Bank for the Industries,” and its
commemoration of its sixtieth
claim to that title is revealed in a resume of its list of officers
and directors, who are representatives of various industries
of
the city. The stockholders likewise include interests
representative of nearly every local mercantile and manufac¬
turing concern. As evidencing the way the bank passed
through the panic of 1907, we quote the following from the
book:
No clearing-house certificates were Issued in Battle Creek, and the Old
National Bank adhered to its policy, established In 1865, "to pay every
depositor cash on demand."
The savings and commercial deposits were
received and paid out in the ordinary course of business, without restriction
as to time or amount.
The depositors In this bank were not Inconveni¬
enced In any way, nor did they manifest anxiety about the safety of their
deposits.
The author of the volume is Charles H. Ravell of Chicago,
who has heretofore been identified with publications, of a
similar character.
—The
Minnesota
National
Bank
of
Minneapolis ha#
changed its quarters from the Globe Building to the Lumber
Exchange, Hennepin Avenue and 5th Street, where it is
domiciled on the ground floor. Since the bank began busi¬
ness in 1902, its deposits have grown to $1,000,000.
It has
a capital of $200,000.
Its officers are: A. D. Clarke, Presi¬
dent; F. L. Williams, Vice-President; J. D. Utendorfer,
Secretary; I. F. Cotton, Cashier; and C. I. Welch, Assistant
Cashier.
anniversary of the Hennepin County
Savings Bank of Minneapolis occurred on the 1st inst. The
bank dates from 1870, when the city is said to have numbered
but 18,000 inhabitants, and it was one of the charter members
—The
(VOL.
THE CHRONICLE
692
fortieth
of^the Minneapolis Clearing-House Association. Its capital
stands at $100,000, it has surplus and profits of $102,000 and
deposits of $4,800,000.
—The Union State Bank is reported to have been organized
at Muskogee, Okla., to take over the Alamo State Bank of
that city.
With the reorganization, the capital will be in¬
creased from $40,000 to $100,000.
W. C. Jackson has been
chosen President to succeed Leo E. Bennett, who resigns
to enter the service of the Capitol Commission at Oklahoma
City.
—The Central National Bank of St. Louis has moved
from
7th and Locust streets to its new quarters on the ground
floor of the Central National Bank Building at 7 th and Olive
streets. The building was formerly known as the Missouri
Trust Building, and had been the home of the MissouriLincoln Trust Co. The offices occupied by the bank have
reconstruction and the facilities of
the institution in its new location are vastly superior to those
which it has just vacated. The bank has a capital of
$1,000,000 and deposits of about 1% million dollars. It is
under the presidency of H. P. Hilliard. J. A. Berninghaus is
undergone extensive
Cashier.
‘—An application for the appointment of a receiver for the
Planters’ Bank of St. Louis, made by William C. Young,
said to be a small stockholder in the institution, was refused
by Judge Sale in the Circuit Court at St.?Louis on Aug. 29.
The filing of the petition is reported to have followed the issu¬
ance of a notice on Aug. 22 by the officials announcing that
the institution was to be liquidated. The St. Louis “GlobeDemocrat” states that Mr. Young in his petition alleged that
capital and surplus of the bank had been impaired to the
$50,000 by bad loans and the payment of high
salaries to the officials; that a number of the officers and
directors had turned back their stock and been paid for it
out of the assets, and that a movement was on foot to
exchange the stock for stock in the American Bankers’
Assurance Co. (now in process of organization), which, he
asserts, was paying commissions of 30% on the transaction.
It is reported that Judge Sale refused to appoint a receiver
on the ground that the proof did not sustain the charge of
manipulation of stocks and impairment of capital by payment
of large salaries. In addition he held that even if the
capital had been impaired by the payment of such salaries, a
receivership could not exist unless there was proven to have
been fraud in connection with the payment of large salaries.
It is announced that almost 50% of the stockholders of the
bank have exchanged their holdings for stock in the Bankers’
Assurance Co. The Planters' Bank has a capital of $300,000,
in '$100 shares.
The stock of the Assurance Go. is being
disposed of at $2 per share, one-half of which will go toward
surplus, and the basis of exchange is 50 shares of Assurance
the
extent of
Co. stock for
commissions
one
share of bank stock.
The charge that
paid in the exchange of stock is denied by
the officials of both the bank and assurance company.
The
Planters’ Bank began business on Dec. 6 1909.
It is
reported in the “Globe-Democrat” that when it was refused
admission to the Clearing House, steps were taken to merge its
business with the Commercial Trust Co.; but these plans failed
of completion.
are
—Upon the occasion of its fortieth anniversary, which
has just been reached, the National Bank of Commerce of
Norfolk, Va., issues a comparative statement to show its
upbuilding during the : four decades. From resources of
$50,000 in 1870 the amount advanced to $224,367 in 1880,
$404,152 in 1890, $1,412,626 in 1900, $2,565,133 in 1902,
*$5,956,297 in 1906 and $7,629,970 on June 30 1910. The
bank has a capital stock paid in of $1,000,000; surplus and
undivided profits of $656,225 and deposits (under the June
call) of $4,701,310. Its officers are: Nathaniel Beaman,
President; Tazewell Taylor, Vice-President; Hugh M. Kerr,
^'Cashier, and M. C. Ferebee and R. S. Cohoon, Assistant
Cashiers.
LXXXXI
a dividend of 8% to the depositors
People’s Bank of Portsmouth, Va., was recently
authorized.
While it is nearly three years since the failure
of the institution, which occurred in November 1907, with
the above payment the total return to the depositors aggre¬
gates but 18%, there having been but one other distribution,
namely 10% in 1909. It is stated that Receiver John T.
Griffin has filed an amended bill in his suit against the
directors of the institution, in which he charges, according
to the Norfolk “Virginian”, that they should have been
cognizant of the condition of the bank some sixteen or
seventeen years ago, and undertakes to hold them liable for
the shortage of its funds, amounting, it is said, to more than
$500,000. Mr. Griffin asks that the defendants be required
to answer the amended and supplemental bill, and further
requests that the Court refer the cause to one of the Com¬
missioners in Chancery, to ascertain and report the amounts
necessary, over and above the bank’s assets, to meet and
pay off all of its indebtedness and other liabilities.
The
request is also made that the Commission transmit an account
showing the amount of money which each of the defendants
—The
payment of
of the failed
is liable to contribute in order to raise the sum necessary
to
liquidate the liabilities of the bank.
—An application to organize the Star National Bank of
Richmond, Va., was approved on August 11.
The pro¬
posed institution is to have $200,000 capital.
FALL RIVER MILL DIVIDENDS FOR NINE MONTHS
OF 1910.
Thirty-four cotton-manufacturing corporations located in
reports of operations have de¬
clared dividends during the third quarter of the year. Hie
total amount paid out is a little greater than for the corre¬
sponding periods of 1909 or 1908, and appreciably smaller
than in 1907, but exhibits important increases over the
similar quarter of earlier years back to and including 1900.
The aggregate of the amount distributed has been $435,875,
or an average of 1.64% on the capital. ’ One mill passed its
dividend, one declared at a smaller rate than in 1909, two
increased the rate and the remainder maintained last year’s
percentage. In 1909 the amount paid by thirty-five mills
was $411,125, or an average of 1.61%.
In 1908 the amount
paid out by thirty-three mills was $400,125, or an average
of 1.59%.
In 1907 thirty-two mills paid out $664,850, or
2.70% on the capital. In 1906 thirty mills disbursed $367,275, or 1.61%. In 1905 the aggregate was $215,650, or
0.99%. In 1904, $150,750, or an average of 0.70%. In
1903 thirty-one mills paid out an average of 1.44%; in 1902
the average rate was 1.56%.
In 1901 the average percentage
was 1.12 and in 1900 the average rate of distribution was
1.81%.
Fall River which furnish
0
Dividends 1910.
Third Quarter.
1910 and 1909.
$
800,000
300,000
450,000
495,000
350,000
American Linen Co.
Ancona Mills
Arkwright Mills
Barnard Mfg. Co
Bamaby Mfg. Co
Border City Mfg. Co
1,000,000
Bourne Mills
ChaceMllls
Conanlcut Mills
Cornell Mills
Davis Mills
Davol Mills
Flint Mills
Granite Mills..
—
—
Parker Mills
Pocasset Mfg. Co—
Richard Borden Mfg. Co.
Sagamore Mfg. Co
Seaconnet Mills
Shove Mills
Stafford Mills
Stevens Mfg. Co...
Tecumseh Mills.
Troy Cot. & W. Mfg. Co.
Union Cotton Mfg. Co...
Wampanoag Mills
Weetamoe Mills
Total
a
On
1,000,000
1,200,000
300,000
400,000
1.250,000
500,000
580,000
1,000,000
800,000
1,500,000
600,000
350,000
750,000
1,200,000
400,000
750,000
800,000
1,200,000
1,000,000
1,200,000
600,000
550,000
1,000,000
700,000
750,000
300,000
1,200,000
750,000
500,000
,
...
26,525,000
$100,000 preferred stock,
Inc. (+)
or
%
Hargraves Mills
King Philip Mills
Laurel Lake Mills
Luther Mfg. Co
Mechanics’ Mills
Merchants’ Mfg. Co
Narragansett Mills
Osborn Mills—
Dividends 1909.
Capital.
Amount.
%
Amount.
$
IX
alX
12,000
1,500
IX
a IX
IX
IX
IX
IX
IX
Nod ividend.
IX
IX
1X
IX
7,425
3,500
15,000
15,000
24,000
4,500
8,000
18,750
7,500
8,700
20,000
20.000
22,500
12,000
5,250
11,250
18.000
8,000
11,250
20,000
18,000
20,000
24.000
9,000
8,250
15,000
10,500
11,250
9,000
18,000
11,250
7,500
1.64
435,875
1
IX
IX
2
IX
2
IX
IX
IX
2
2X
IX
2
IX
IX
IX
2
IX
2X
IX
2
2
IX
IX
IX
IX
IX
3
2
IX
2
blX
IX
IX
2
IX
IX
2
1X
1
IX
2
IX
IX
IX
2
fl2
IX
IX
IX
IX
IX
$
12,000
1,500
6,750
7.425
5,250
15,000
15,000
24,000
4,500
8,000
7,500
7,500
—1*750
+ 11.250
"+8.000
+8,000
+6",o6o
9.000
IX
IX
IX
1.61
411,125
b On capital $500,000.
—6,750
8,700
20,000
12,000
22,500
12,000
5,250
11,250
18,000
8,000
11,250
12,000
18,000
20,000
18,000
8,250
15,000
10,500
11,250
9,000
18,000
11,250
7,500
3
Dec. (—).
+24,750
h On capital $000,000.
Combining the foregoing results with those of the halfyear, we have the following exhibit for the nine months.
It
is seen that on a capitalization of $26,525,000 the mills have
paid out in dividends $1,388,375 in the nine months of the
present year, or an average of 5.23%, * against 5.85% in
1909 (including a large extra dividend by the Union Cotton
Mfg. Co.), 5.42% in 1908, 7.27% in 1907, 4.87% in 1906,
2:13% in 1905, 3.06% in 1904, 4.36% in 1903 and 4.59%
in the like period of 1902.
Dividends 1910.
Nine Months
1910 and 1909.
$
800,000
300,000
450,000
495,000
350,000
1.000,000
1,000,000
1,200,000
300,000
400,000
1,250,000
500,000
Arkwright Mills
Barnard Mfg. Co
Barnaby Mfg. Co
Border City Mfg. Co
-
-
580.000
—
...
Hargraves Mills..
King Philip Mills
Laurel Lake Mills
Luther Mfg. Co
Mechanics’ Mills
Merchants’ Mfg. Co
Narragansett Mills
Osborn Mills
Parker Mills-.Pocasset Mfg. Co
Richard Borden Mfg. Co.
Sagamore Mfg. Co
Weetamoe Mills
5
4H
4A
6
4A
16
A
A
4A
4
4
5A
4H
4A
400,000
750,000
800,000
1,200,000
1,000,000
1,200,000
6
300,000
1.200,000
750,000
500,000
Troy Cot. A Wool Mfg.Co.
Union Cotton Mfg. Co...
Wampanoag Mills
3
350,000
750,000
1,200,000
700,000
750.000
26,525,000
36,000
4,500
11,250
2a,275
10,500
45,000
45,000
72,000
13,500
64,000
56,250
22,500
26,100
60,000
4M
4 A
2H
4A
6
550,000
1,000,000
Inc. (+)
Amount.
Dec. (—)
$
$
%
$
1,000,000
800,000
1,500.000
600,000
600,000
Seaconnet Mills
Shove Mills
Stafford Mills
Stevens Mfg. Co.
Tecumseh Mills
Dividends 1900,
Amount.
%
Capital.
American Linen Co
Ancona Mills
Bourne Mills
Chace Mins.
Conanlcut Mills.
Cornell Mills
Davis Mills.
Davol Mills..
Flint Mills-..
Granite Mills
60 000
7A
4A
4M
4A
4A
67,500
36,COO
19,250
33,750
54,000
24,000
33,750
60,000
54.000
80,000
72,000
33,000
24,750
45,000
31,500
33,750
27,000
54,000
33,750
22,500
5.23
1,388,375
6
4A
7A
4A
8
6
5A
4A
4A
4H
4A
9
4A
.
36,000
4,500
20,250
22,275
5,250
45,000
4A
4A
4A
IA
4H
SA
35,000
72,000
6
4A
13,500
24,000
22,500
22,500
26.100
60,000
36,000
67,500
36,000
15,750
33,750
54,000
24.000
33,750
36,000
54,000
60,000
54,000
6
4A
4A
4A
6
4A
4A
6
’
4A
4A
4'A
6
4
4
y2
A
4'A
6
6
4A
4A
4 A
4A
27,000
24,750
45,000
10
28
+ 5,250
+ 10,000
+40,000
+33.750
+ 24,000
+3,500
+24,000
+20,000
+ 18,000
+6,000
A
5.85
1,490,375 —102.000
4
figures issued Aug. 31 1910. For statement of July 31 1910,
issue of Aug. 20 1910, page 440; that of Aug. 31 1909, see
Oct. 2 1909, page 819.
INTEREST-BEARING DEBT AUG. 31 1910.
Amount
Amount
Issued.
Tide of LoanPayable.
Consols of 1930
Q.4|.
Loan of 1908-18
__Q.-F.
Q.-F.
Loan of 1925
Pan. Canal Loan 1906.Q.-N.
Pan. Canal Loan 1908.Q.-F.
.
_
Total trust fund...
1,379,337,669
General Fund Holdings
Gold coin and bullion..
43,683,247
Gold certificates
35,945,200
Sliver certificates
10,267,673
Silver dollars
6,974,795
Silver bullion
3,360,234
United States notes
6,320,278
Registered.
00
16
00
00
00
74
00
10,719 00
35,598,344 87
20,366,532 67
Treasury notes of 1890National bank notes...
Fractional silver coin..
Fractional currency
Minor coin
Bonds and Interest paid
Total trust liabilities .1,379,337,669
Gen. Fund Liabilities—
National Bank 5% fund
Outstanding checks and
drafts
Disbursing officers’ bal-
11,355.608 41
«*
83,751,330 73
ances
Post Office Department
account
1
Miscellaneous items
64 80 Total
gen’l liabilities.
_
00
28,757,192 92
2.514,857,04
1,436,948 54
127,8X5,938 24
922,150 96
14,521 27
Tot. In Sub-Treae’ies. 162,463,661 47
In Nat. Bank Depositaries
Credit Treasurer of U. S.
35,774,441 47
Credit U. S. dis. officers
12*990,679 15
Total in banks
48,765,120 62
In Treas. of Philippine Islands—
Cash Balance and Reserve—
Credit Treasurer of U. S.
2,265,612 30
Credit U. S. dis. officers
3.844.751 44 Total cash and reserve.. 239,532,207
Made up of—
89,523,207 59
Total in Philippines..
6,110,363 74 Available
69
..
and
Reserve Fund—
00
1,746,676,814 83
Grand total.
[From
see
Interest
Silver dollars
Silver dollars of 1890.
LIABILITIES.
Trust Fund Liabilities—
$
$
889,811,669 00 Gold certificates
889,811,669700
485,939,000 00 Silver certificates
485,939,000 00
3,587,000 00 Treasury notes of 1890.
3,587,000 00
GoldAbull.150,000,000 00
(
30.000
—7,000
336,000 -282,000
26,250
+7.500
22,500
3A
ASSETS.
**
Trust Fund Holdings—
Gold coin.
Reserve Fund Holdings—
Gold com and bullion^.
150,000,000
31,500
33,750
4A
—9,000
DEBT STATEMENT AUG. 31 1910.
The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
2s,
3s,
3s,
4s,
2s,
693
THE CHRONICLE
Sept. 17 1910.
Outstanding
Coupon.
Total.
S
$
$
$
646,230,150 641,663,350 4,586,800 646,260,150
198,792,660 42,526,460 21,419.000 63,945,460
162,315,400 98,605,300 19,884,600 118,489,900
30,860 54,*81.9 0
54.631,980 64.601,120
424,480 30,000.000
30,000,000 29,575,520
our own
Grand total
....1,746,676^ 83
correspondent.]
jLondon, Saturday, Sept. 10
1910.^
The stock markets are more utterly lifeless than is usual
even in the holiday season.
The causes are mainly three:
inability to judge what is about to happen in the United
States, seeing that the public holds aloof so completely from
the New York Stock Exchange; injury done to t,he harvests
in Central and Western Europe; and the lockout in the ship¬
ping trade and the threatened strike in the South Wales coal
trade.
The latter two events are not the least potent, for
the moment, at all events.
Without going so far as to, say
that the boiler-makers and the miners have
no
cause
for
Note.—Denominations of bonds are: Of $20, loan of 1908, coupon and registered;
of $50. all issues except 3s of 1908; of $100, all issues; of $500, all Issues; of $1,000,
all Issues; of $5,000, all registered 2s, 3s and 4s; of $10,000, all registered bonds; of
appears to be proved absolutely that the great
trades unions are utterly disorganized, that the elected
councils have lost their authority, and that the younger
men, at all events, take every excuse that offers to go out
on strike in the belief that they can come back as soon as
$50,000, registered 2s of 1930.
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
trades unions
....
Aggregate int.-bearing debt.. 1,091,990,190 866,971,750 46,345,740 913,317'490
July 31.
Funded loan of 1891, eontlnued at 2%, called May 18
1900, interest ceased Aug. 18 1900
$7,000
Funded loan of 1891, matured Sept. 2 1891
23,750
Loan of 1904, matured Feb. 2 1904..
14,450
Funded loan of 1907, matured July 2 1907.
1,103,500
Refunding certificates, matured July 1 1907
Old debt matured at various dates prior to Jan. 1 1861
....
Aug. 31.
$7,000
23,650
14,450
1,101,250
17,110
00
00
00
00
17,120 00
00
00
00
00
00
and other items of debt matured at various dates
908,285 26
906,085 26
Aggregate debt on which interest has ceased since
$2,074,105 26
maturity
DEBT BEARING NO INTEREST.
$2,069,545 26
subsequent to Jan. 1 1861
'
July 31.
United States notes
$346,681,016 00
Old demand notes...
53,282 50
National bank notes—Redemption account.
27,452,118 00
Fractional currency, less $8,375,934 estimated as
lost or destroyed..
6,858,820 93
Aug. 31.
$346,681,016 00
53.282 50
30,730,387 75
6,858,435 93
-
Aggregate debt bearing
no interest
....$381,045,237 43
$384,323,122 18
RECAPITULATION.
Increase
Classification—
Interest-bearing debt
Debt interest ceased
Debt bearing no interest
Aug. 31 1910.
$913,317,490 00
2,069,645 26
Jtdy 31 1910.
$913,317,490 00
384,323,122 18
381,045,237 43
2,074,105 26
Total grass debt..
.$1,299,710,157 44 $1,296,436,832 69
Cash balance in Treasury*..
239,523,207 59
242,356,224 32
Total net debt
*
$1,060,186,949 85 $1,054,080,608 37
Including $150,000,000
reserve
(+)
or
Decrease (—).
—$4,560 00
+3,277,884 75
+$3,273,324 75 j
—2,833,016 73;
+$6,106,341 48
fund.
The foregoing figures show a gross debt on Aug. 31 of
$1 ,299,710,167 44 and a net debt (gross debt less net cash
in the
Treasury) of $1,060,186,949 85.
TREASURY CURRENCY HOLDINGS.—The following
compilation, based on official Government statements, shows!
holdings of the Treasury on the first of June,
July,. August and September 1910.
TREASURY NET HOLDINGS.
I
the currency
‘
June 1. *10. July 1 ’10. Aug. 1 ’10. Sept. 1 ’10.:
Holdings in Sub-Treasuries—
$
$
$
$
Net gold coin and bullion.
229,620,847 237,052,812 228,421,383 229,628,447;'
Net silver coin and bullion
14,098331
16,754,880 19,296,005 19,602,603 I
Net United States Treasury notes
10,719
11,046
10,797
8,470
Net legal-tender notes
6,320,278
8,789,039
6,835,513 10,495,935
Net national bank notes
29,373,061 28,588,759 36,666,030 35,598,345
Net fractional silver
21,367,285 19,992,380 20,377,827 20,366,532
Minor coin, Ac
936,737
1,273,572
931,169
1,173,228
Total cash in Sub-Treasuries ..302,579,906
Less gold reserve fund..
..150,000,000
313,824,405 314,734,558d312,463,66L
150,000,000 150,000,000 150,000,000;
152,579,906
163,824,405 164,734,558 162,463,66L
51,685.340 48,390,919 48,765,121!
4,447,450
6,228,662
6,110,364;
Cash bal. In Sub-Treasuries
Cash In national banks
Cash In Philippine Islands.
50,841,325
4.728.696
Net Cash In banks, Sub-Treas.208,149,927 219,957,195 219,354,139
Deduct current UabiUUes.a
125,984,510 119,466,411 126,997,915
217,339,146
127,815,938
Available cash balance
82,165,417 100,490,784 92,356,224 89.523,208j
Chiefly "disbursing officers’ balances." d Includes $3,360,234 74 silver bullion,
$936,736 93 minor coin, &q., not Included In statement "Stock of Money.”
•
TREASURY CASH AND DEMAND LIABILITIES;
The cash holdings of the Government as the items stood)
Aug. 31
are
set out in the following;
complaint, it
In the case of the boiler-makers the leaders of the
practically admit that discipline is lost in the
unions, and they ask for a vote to support their authority.
In the South Wales coal trade the same kind of disorganiza¬
they like.
tion
seems
to exist.
unfavorable impression upon
disputes are always liable t2.
But if every body of young men who desire a day's holidays
throw down their tools, business must come to a standstill.
No doubt the vigorous action taken by the masters in the
shipbuilding trade will make the great body of workmen see
the injury to themselves of the present state of things, and
an improvement will take place.
But until these trade dis¬
putes are out of the way it is to be feared that there will be
little activity in the stock markets.
Apart from labor questions, every thing seems to be going
in favor of markets.
The Board of Trade returns for August
and the eight months ending therewith are exceedingly
favorable.
In the exports of British and Irish produce and
manufactures for the month, the increase in value is as much
as 20.3%, and the increase for the first eight months of the
The increase in the re-exports is 15.8% fpr
year 15.2%.
the month and 17.6% for the eight months.
In the imports
the increase for the month is 7.5% and for the eight months
8.8%. It is to be recollected that there was one more
working day in August this year than in August last, and,
furthermore, that prices are higher now than they were a
year ago. Even when allowance is made for these facts, the
returns are highly satisfactory.
But the City asks, How long
will this improved condition of trade continue if work-people
come out oh strike whenever they take a fancy?
In the money market, too, the prospects are decidedly
more favorable to markets than they were a little while ago.
All expectation that the Bank of England will raise its rate
of discount in the early future has now disappeared.
In a
month or so it is possible that it may do so, or something
quite unforeseen may happen to compel a rise in the rate.
But at present nobody anticipates an advance.
The Bank is
strong; the Government is about to pay off a very large
amount of Treasury bills, which must increase the supplies In
the open market; and consequently it is expected that, for a
month at least, money will be both plentiful and cheap.
India is not taking gold, as she was expected to do. Brazil
cannot take it because she has not yet settled the value of the
milreis. In the United States money remains cheap, and
belief here is that the great shipments of gold to New York
that were feared a little while ago will not now take place.
Except Egypt j and possibly Russia, then, there seems ao
likelihood at present that any country will take very much
gold. Egypt this week is taking less than in the earlier part
of the week was anticipated.
Worms have appeared in the
cotton crop, and therefore some apprehension has been
excited that the crop may be damaged.
Up to the present
the reports are that no serious injury has been done.
Picking
Naturally this makes
the stock markets.
a very
Labor
694
THE CHRONICLE
has
already begun in the Fayoum, and within a fortnight
expected that picking will be general. Upon the whole,
the money outlook is much more favorable than it seemed a
few weeks ago, and, taken with the great improvement in
trade and the peaceful condition of international politics, it
seems likely that before
long markets will resume their usual
activity.
The India Council offered for tender on Wednesday 40 lacs
and the applications amounted to 470% lacs at prices ranging
from Is* 4d. to Is. 4 l-16d. per rupee.
Applicants for bills
at Is. 4d. and for telegraphic transfers at Is. 4 l-32d. per
.rupee were allotted about 8% of the amounts applied for,
The British
it is
Sept. 8.
Sept. 9.
Sept. 11.
1906.
Sept. 12.
£
£
£
£
£
Circulation
28,203.045
Public deposits
18,862,841
Other deposits...40.148,554
Oovernm't securities 15,874,770
other securities
29,696,428
Reserve,notes&coin 29,687,987
Ooln&bull..bothdep 39,441,032
Prop, reserve to lia¬
bilities
1908.
1907.
29,095,850
5,700,452
45,513,891
15,532,293
26,431,897
27,507,508
38,153,368
29,335,850
8,056,409
47,818,072
15,329,192
29,346,465
29,446,257
40,332,062
29,109,385
7,612,123
46,924,229
14,338,076
30,494,182
27,994,716
38,684,101
The rates for money have been as
■
fH
'
;
fcj
3
3 1-16@3*
3
3
3®3X
Z%@3X
ZX
ZX
3*
zx
zx
2X
2X
zx
zx
3@3*
zx
IX
IX
IX
IX
IX
1X
IX
IX
IX
IX
IX
IX
ZX
3* @3 7-16
August
show the
At call..:
7 to 14 days
Sept. 10.
Rates of
Interest at—
Bank
Paris
Berlin—
Open
Rate. Market.
3
2%
4
3*
-
Hamburg
4
3%
Frankfort
Amsterdam
Brussels
4
5
3*
3*
2*
3%
Vienna
St. Petersburg
4*
4*
5
Madrid
Copenhagen
Messrs.
Aug. 27.
Bank
Open
Aug. 20.
Bank
Open
Rate. Market.
3
2
Rale. Market.
3
2
Rate. Market.
3
2
4
4
4
5
ZX
4
5
4*
5
4*
4
:
Sept. 3.
Bank Open
nom.
4
4
Pixley & Abell write
2%
3*
3*
4*
2%
3%
nom.
4
4
as
4
4
4
5
3*
4
3
5
3*
3*
3*
4*
2%,
15-16
nom.
4*
4
5
4
4
4
4
5
3*
June
as
s.
d.
9
5
5
5
4
The following shows the imports of cereal
the United Kingdom during the season just
pared with previous
3%
3*
3 7-16
4*
Oats
Peas
Beans
Indian
Flour
22,074,500
20,024,400
2,348,683
2,023,504
36.210,858
10,907,119
corn
2*
4
3 15-16
5 • nom.
4H
4
5
4
1909-10.
wheat imported.......^..cwt.105,413,040
Imports of flour.
10,907,119
Sales Of home-grown
i
27,636,396
a
o
.
Total
Average prioe wheat, week.....
Average price, season....
'
:
-
10,719,721
+17.6
adjustments
Mon.
Tues.
24 7-l§
24*
80 7-16
80 9-16
97.75
65
8
101
80*
75*
23*
123
30*
73
share,
65*
71*
17
36*
.
24
123
31
126
26*
44*
33
70
32*
98*
91
117
66
71*
45
47*
115*
22*
52*
171*
94
70*
119*
17*
36*
65
c
23*
124
32
31*
73*
73
26*
44*
132*
146*
32*
45*
45
34
134
147
34
133
147*
33*
32*
63*
71*
32*
116*
63
71
32*
41*
99*
91
117*
66
72
45
33*
116*
41*
118*
66*
73*
45
47*
117*
53
171
63*
173*
24
94*
95
70*
71*
119*
17*
37*
66*
•76
23
123*
31
73
116*
91
66*
72*
66
45
45
48
70*
120
17*
37*
38
66
33
91
118
93
17*
33
133*
146*
32*
64*
71*
100*
47*
.Cl 14*
23*
63*
169*
120
25*
44*
114*
41*
100*
42
100
91
47*
116*
23*
90
194*
73*
26*
27
63
72
115
Fri.
90
194*
76*
24
33
114
41
Thurs.
90
195*
77*
63*
65
b £ Sterling.
90
195*
76*
146
32
94
69*
119*
8
100*
102*
106*
132*
45
47*
115*
22*
52*
169*
65*
73
26*
.
80*
97.75
Wed.
24 9-16 24*
24*
80 11-16 80 9-16 80 9-16
80*
80*
80*
97.80
97.77* 97.97*
66*
64*
66*
8
8*
7*
102*
99*
101*
103
103
102*
108*
106*
107*
66
71*
113*
23*
53*
168*
92*
68*
119*
17*
36*
65*
Ex-dlvldend.
National
Banks.—The following
information regarding
Comptroller of the
national banks is from the office of the
Currency, Treasury Department: ‘
APPLICATION TO CONVERT INTO NATIONAL BANKS
APPROVED.
The Farmers’ Savings Bank of George, Iowa,, into “The First Nationa
Bank of George.”
Capital, $25,000.
The First State Bank of Bowdle, Bowdle, S. D., into “The First Nationa
Bank of Bowdle.”
Capital, $25,000.
NATIONAL BANKS ORGANIZED.
91.711.400
21,860,800
16.353.400
1,474,040
1,305,470
38,915,900
10.919.400
91,445,750
20,355,386
13,185,799
1,364,950
946,870
39,423,157
13,408,100
96,194,052
19,768,034
11,292,114
1,853,780
460,850
52,525,570
13,427,672
stock
on
1906-07.
96,194,052
Cashier
13[427]672
35,458,511
1909.
1908.
1,745.000
130,000
755.000
■
>
*
Farmers’ National Bank of Red Lake Falls, Red Lake Falls,
Capital, $25,000.
L. C. Simons, Pres.; Sam E. Hunt
Fayolle, Vlce-Pres.; W. B. Cheshire, Cashier; A. A
Latendresse, Asst. Cashier..
; ;
;
First National Bank of Crosby, Crosby, Minn. Capital,
$25,000.
Isaac Hazlett, Pres.; J. J. Meyer, Vlce-Pres.; S. G.
Latta, Cashier.
Phelps National Bank, Phelps, N. Y, Capital, $25,000.
Chas. H. Garlock, Pres.;. A. T. Van Nostrand, vloe-Pres.; and
J. Fred Helmar, Cashier. .
First National Bank of La Jara, La Jafa. Colo. Capital,
$25,000. J. A. McDaniel, Pres.; W. A. Braiden, Vlce-Pres.;
John S. Fletcher, Cashier,
'
Minn.
and E.
,
1,905,000
130,000
715,000
September 2 to September 7.
National Bank of Baton Rouge,” La. Capital, $150,000.
N. S. Dougherty, Pres.; Jos. Gottlieb, D. M. Reymond,
Hy. L. Fuqua and Richard J. Hummel, Vlce-Pres.; W. H.
Bynum, Cashier; Thos. B. Williams, Asst. Cashier.
Chartered
Aug. 31.
First National Bank of Bokchito, Okla. Capital, $25,000.
C. L. Sawyer, Pres.; S. M. Blair, Vlce-Pres.; w. E. Riddle,
Cashier.
Conversion of The Citizens State Bank of Bokchito.
First National Bank of Elmhurst, Ill. Capital, $25,000.
William Graue, Pres.; E. W. Marquardt, First Vlce-Pres.; F. W.
M. Hammerschmldt, Second Vlce-Pres.;
Alonzo G. Fischer,
143,956,555 128,273,607 139,432,012 145,080,235
32s. 2d.
38s. 5d.
30s. lQd.
33s. lOd
32s. 6d.
36s. 6d.
32s. lOd.
28s.
Id.
TMs wesk.
Last week.
2,255,000 I 2,380,000
95,000
80,000
1,280,000
1,310,000
60,913,458
+15.8
©ororaevctal and Miscellaneous 2|etus
following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
""
Wheati-..^.....qr8.
Flour,equal to
-...qra.
Mfclae—qra.
71,633,179
.
Pennsylvania
Reading Co
a First preferred.
a Second preferred
a Price per
The
.
Cent
+21.8
+20.0
+12.1
+37.4
+14.3
+ 5.2
+11.4
_
Southern Pacific
Southern Ry
Preferred
Union Pacific
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred
Extended 4s.
nom.
1906-07.
1907-08.
91,445,750
13,408,100
34,558,162
Per
£
44
33
132
Illinois Central
Louisville & Nashville
146
Missouri Kansas & Texas... 32
Preferred
63*
Nat. RR. of Mex., 1st pref.. 70
Second preferred
32*
N. Y. Central & Hud. River. 114
N. Y. Ontario & Western... 41
Norfolk & Western..
98*
Preferred
91
117
Northern Pacific
Sept. 1.
1907-08.
1908-09.
Difference.
+1,459.613
+1,710.926
+903,669
+3,227.648
+1,043,014
+ 418,038
+847,364
+1,109,254
Second preferred
d.
24 *
24 7-16
26 5-16
1908-09.
91,711,400
10.919,400
25,642,807
+15.2
English Financial Markets—Per Gable.
daily closing quotations for securities, <fcc., at London,
reported by cable, have been as follows the past week:
Preferred
Erie
First preferred..
produce into
ended, com¬
Supplies available for consumption (exclusive of
September 1):
+37,076,493
+13.0
+8.9
+21.9
+13.8
+17.1
+8.1
+20.3
6,687,551
8,473,634
7,540,319
8.631,006
7.251.262
7,965.605
7,374,231
6,990,069
Chesapeake & Ohio
75*
Chicago Great Western
23*
Chicago Mllw. & St. Paul... 121*
Denver & Rio Grande
30*
seasons:
IMPORT3.
1909-10.
cwt. 105,413,040
Year—
Imports of wheat
Barley
*f-20 8
1909.
£
For account
sox
French rentes (In Paris).fr. 97.82*
65
Amalgamated Copper Co
b Anaconda Mining Co
8
Atchison Topeka & Santa Fe 99*
Preferred
102 X
102*
Baltimore & Ohio
106
106*
Preferred
90
90
Canadian Pacific
.194*
195*
follows:
Sept. 8.
London Standard.
I
d.
| Bar silver, fine, oz
24 %
I “ 2 mo. delivery, oz_24*
| Cake silver, oz
26 5-16
j Mexican dollars
nom.
|
+6,000,069
+3.667.418
+2,486,885
+6,333,757
+ 4,081.565
+6,081,679
+2,900,937
+ 6,524.183
8,147,164
10.184.560
8.443,988
11,858.654
8,294,262
8,383.643
8,221,595
8,099,313
London,
Week ending Sept. 16.
Sat.
Silver, peroz
d. 24 7-16
Consols, new, 2 X per cents.
sox
—Germany, £24,000; Holland, £1,000; France, £16,000; Egypt, £3,000; Java,
£35,000; U. 8. A., £15,000; South America, £85,000; South Africa, £3,327,000;
India, £178,000. Shipments—Germany, £822,000; Holland, £369,000; France,
£144,000; Turkey, £500,000; Egypt, £150,000; Java, £204,000; U. S. A., £1,509,000; South America, £202,000; South Africa, £10,000; India, £755,000.
SILVER.—The market has been without interest during the past week, and
changes In quotations have been slight. To-day we quote 24 *d. tor spot and 24 *d.
for forward delivery, the premium of *d. on forward silver having been established
on the 6th Inst.
The market is quite steady at the close, a few buying orders from
China having given a firm tone.
The China exchanges are close to the parity of
London quotations but buying orders from there until to-day have been few, while
the latest Indian quotations are below our parity.
For the week: Arrivals—New
York, £200,000; Mexico, £30,000; West Indies, £3,000; Chili, £3,000; total, £236,000. Shipments—Bombay, £140,000; Calcutta, £5,000; Port Sa d, £1,000; total,
£146,000. For month of August: Arrivals—Germany, £4,000; France, £10,000;
U. S. A., £1,251,000.
Shipments—Russia, £189,000;
Germany, £151,000;
France, £62,000; India,£615,000.
77
76
76
76
76
Cent
The
£26,000; Brazil, £10,000; total, £808,000. Shipments—Bombay, £163,000; Cal¬
cutta, £47,000; Colombo, £5,000; total, £215,000.
For month of August: Arrivals
are reported as
Sept. 1.1
SILVER.
1
Eight months
follows under date of
quotations for bullion
1910.
£
April
May
GOLD.—Purchases for Turkey and the Indian requirements have absorbed most
of this week’s arrivals, and the balance will remain in London, though It is unlikely
that the Bank will secure any part of it.
Egypt Is still taking sovereigns, and has
taken £455,000 since the date of our last circular, while, n addition, £100,000 has
been withdrawn for Turkey and £11,000 for Bolivia. On the other hand, the Bank
has received £263,000 in bars.
Next week we expect £612,000 from South. Africa.
For the week: Arrivals—South Africa, £662,000; Bombay, £110,000; West Indies,
GOLD.
Sept. 8.
London Standard.
$.
d.
Bar gold, fine, oz
77 9
U. S. gold eoin, oz____ 76 5
German gold coin, oz.. 76 5
French gold coin, oz.. 76 5
76 4
Japanese yen
£
following contrasts:
March
Sept. 8:
The
Per
Difference.
281.612,783 244,536,290
Re-exports—
January
February
The bank rates of discount and open market rates at the
chief Continental cities have been as follows:
n-
follows:
as
28,803,046
28,024,452
31,904,673
28,958,458
29,525,746
29,717,975
35,487,240
32,114,700
38,388,177
38,638,883
.
Eight months
allowed for deposits—
By Joint-stock banks...
By disoount houses:
9.8356704—T“Lhoeuisan
June
July
+10.381.697
1909.
£
34,803,115
31,691.870
34,391,558
35.292.215
33,607,311
34,799,654
L
+2,420,790
+ 690,214
+ 6,106,928
Note.—The aggregate figures are official.
They indicate that alight
have been made in the monthly returns as issued.
,
3*
zx
zx
zx
3@3X
1910.
£
May
Aug. 19.
Aug. 26.
3
*
2*
3
—4 months
n term
\ tui
3
+ 8.8
exports since Jan. 1 have been
April
follows:
Sept. 2.
Sept. 9.
Bank of England rate
Open Market rate—
Bank bills—60 days
—-3 months
—4 months
—6 months
Trade bills—3 months
+35,463,406
March
July
August
Cent.
400,317,006
February
52*
2*
£
435,780,412
Exports—
January
28,734,145
9,224,182
42,477,145
15,958,452
29,273,146
24,761,561
35,045,708
Per
£
+10,414,631
+2.924,884
—932,031
+3.619,413
*
The
Difference.
+4.5
+1.3
+11.7
+22.0
+23.2
+5.6
—1.8
+1.5
June
Eight months
follows:
1909.
53,500,364
50,408,143
62,013,465
49,173.762
44,854,548
61.711,874
50,316,493
48,411,204
May
July
August
as
lxxxxi
55,921,154
51,158,357
68,120,393
59,555,459
65,269,179
54,636,758
49,384,462
62,030,617
March
April
53*
47*
51*
2*
4
*4
Oonaoto, 2*p.
86*
86 9-16
80*
83 13-16
82 5-16
Silver
24*d. 23 ll-16d.
23*d.
37*d.
31*d.
Clear .-house returns 244,460,000 206,245.000 176.902,000 201,209,000 189,598.000
*Sept. 13 1906.
52
3
p.c.
p.c.
c.._
Bank rate
1910.
£
February
show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
1909.
imports since Jan. 1 have been
Imports—
January
and above in full.
The following returns
1910.
Sept. 7.
[Vol.
..
.
>
the chronicle
SEPT. 171910.
GOVERNMENT REVENUE AND EXPENDITURES.—
-
Through the courtesy of the Secretary of the Treasuery, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for the month of
August. From previous returns we obtain the figures for
previous months, and in that manner complete the state¬
ments for the 8 months
1910.
July.
Aug.
June.
8 Mos.
July.
Aug. ;
8 Mos.
Total receipts
76.271 68.818 64.969 465,973 68,900
Disbursements—
Civil and miscellaneous 16.969 21,528 16,632 123,864 12,691
War
12,926 20,118 14,723 101,638 12,860
10,839 10.302 9,924 80,103 9,120
Navy
Indians
860
2,362 1,533 1,948 13,530
Pensions
12,227 13,877 14,977 106.496 11,732
489
Postal deficiency
1,698;
157
i35 3',247 l",90i 15,7841
Interest on publio debt.
Panama Canal
2,704 4,441 2,637 24,578 2,801
>
9
58,553
42,281
7,825
63,791 61,082 108,669
17,218
21,914
10,472
1,390
13,935
1,600
3,279
3.068
14,231' 32,694
12,716 34,895
10,110 21,455
1,952
3,474
15,766 29.691
3,000
4,500
1,889. 5.168
2,004! 5,074
Total disbursements. 68,162 75,046 62,642 467,681 60,710 72,776 61,667 136,951
Less repayment of un¬
1,865 2,193
56,297 72,853 61.076
Total.
*
tills
1,466
Vancouver
Ottawa
.......
'
expended balances.
Week
—
Quebec
...
Halifax
St. John
Hamilton
—
Calgary
1909.
8
8
34.982.725
24,603,619
14,192,216
8,582,729
4,000,911
1,739,771
1,735.405
1,279,370
1.736.465
2,460,993
28.392,908
21,817,142
9,440,524
5.683.523
2,524,433
1,188,127
—
1.159j
holdings by the Treasury, and the amount in circula¬
1 1909 will
tion on the dates given.
The statement for Sept.
he found in our issue of Oct. 2 1909, page 820.
Stock of Money Sept. 11910
In United
Held in
Sept. 1
Treasury, d
1910.
9
8
8
*1,676,179.924 193.683,247
35,945,200
664,690.508
6.974,795
United States notes
National bank notes
Sept. 1
692.685,008
10,267,573
853366.469
72,776.713
475.671,427
20.366.533
10,719
6,320,278
35,698,345
135.067.505
3,576,281
340.360.738
681.722,706
1909.
8
587,838,757
811.472,169
72,556,981
478,084,554
130.495.375
4.107,275
339,775,265
671,943.460
Total
3,463,893.537 308.166.690 3,155,726,847 3,096,273326
Population of the United States Sept. 1 1910 estimated at JO,603,000; circulation
per capita, 834 83.
* A
revised estimate by the Director of the Mint of the stock of gold ooln was
adopted in the statement for August 11907. There was a reduction of 8135,000,000.
t A revised estimate by the Director of the Mint of the stock of subsidiary silver
coin was adopted in the statement of Sept. 1 1910. There was a reduction of
99.700,000.
a For redemption of outstanding certificates an exact equivalent in amount of
tiie appropriate kinds of money is held in the Treasury, and is not included in the
account of money held as assets of the Government.
d This statement of money held in the Treasury as assets of the Government does
not include deposits of public money in national bank depositaries to the credit of
the Treasurer of the United States, amounting to 835,774.441.
.
'
FOREIGN TRADE OF NEW YORK—MONTHLY
STATEMENT.—In addition to the other tables given in
this department, made up from weekly returns, we give the
following figures for the full months, also issued by
our
York Custom House.
New
Brandon
Lethbridge
Imports.
1910.
Customs Receipts
at New York.
Exports.
1909.
+ 12.8 19,661,936 22392,195
+50.3 7,477,452 11310.165
+61.0 3,192,534 4327.408
+58.6 2.668.343 8374,077
9327325
99.394,637 79,094,631
Total Canada
1910.
January
78,656,123
77,826,788
February
March.... 102,955,233
April..... 78,224,201
May
68,497,815
June
72,216,609
69,966.872
July
August... 81,340.437
.
....
.....
1910.
1909.
Name
Per
Cent.
of Company.
Railroads (Steam).
Beech Creek, guaranteed (.guar.)
Boston A Albany (quar.)
ttutuun A Maine, common (quar.)—...
Canadian Pacific, common
Common (extra)....
Preferred
1
2
8
8
IX
X
2
1X
2
IX
2
2
3
2X
lX
Cleveland Akron A Columbus
Colorado A Southern, 1st and 2nd pref
Delaware A Hudson Co. (quar.)
Days Inclusive.
1 Solders of rec.
Sept. 30 Holders of rec.
LtCl.
1 Holden of reo.
1 Sept. 3
Oct.
to
)ct.
1 Sept. 3
to
*ct.
1 'ept. 3
to
Sept. 30 Holders of reo.
1 3ept. 27
Oct.
to
-
Oct.
Oct.
1
1
3ept. 24
Oct.
1
Sept. 20
68.687 013
56.019.56
iO 581 478
16.911.067
20.728.717
68,295,105 65,279,115 49.212,360 20,276,113 19,732,558
i
imports and exports of gold and silver for the eight
follows:
Silver—New York.
Cold Movement at New York.
Month
f
Imports.
1910.
.
•
$
January
February
421,941
1,912,79'
3.425,421
i.
470,491
493,4 l.j
532,14
March
April
May
JUne
July
August
Total
4.906.44'
9,335,389
....
1909.
Exports.
1910.
1909.
8
8
8
714,693 3,113,576 7,843,125
819,731 2.786,542 8,818,220
2,728,363 1.644,41, 21,173,385
742,911 36,168,360 6,269,450
619,503
438,761 11,094,572
578,263
127,50
5,23.3,050
•
Imports.
Exports
1910.
1910.
8
577,955
365,049
439,488
503,764
479,415
577,053
8
3,935,840
3,208,972
3,572,439
3,442.767
3,267,495
3,971,397
376.817 4.272,445
470.018
177.40'
600,563
276.000 2,847,470 1,007.193 3,931,438
1.405.800
20,498,052 7,274,045 44,732,657 76,685,072
4,326,734|29,602.793
Auction
Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
5 Lawyers* Title Ins. St Tr. Co.257
82,000 Chic. Wise. 4 Minn. RR. 1st
13 Northern Bank of N. Y
100
.105X 4
6s, 1916. M. 4 S
25 14th Street Bank
150
87,540 Atlantic Mutual Ins. Co.
100 N. Y. Net * Twine Co., 81 per sh.
scrip of 1906-1908
103X-104
lnt.
1,000 Imperial Road Co., 810 each
8100 Scarsdale Golf 4 Country Club
1st 5s. 1919.
815lot
M. 4 S...
850
300 Knoxville.Power Co
915 lot... 81.000 Sloes Iron 4 Steel Co. gen.
4X>. 1918. A. 4 0.....94X 4 lnt.
Bonds.
81.000 airo 4 Norfolk RR. Co. 1st
81.000 Charleston Union Station
6s, 1928. May 1909 coupon at¬
Co. 1st 4s, 1937. J. 4 J....83 4 tot.
tached
5
.
...
6
Oet.
Sept. 9a
Oet. 8
Holders of rec. Sept.l6a
Holden of we. Sept. 9a
Holden of reo. Sep. 15a
to
Sept. 22
Oet. 2
Holden of ree. Aug.80a
(gu.)
IX
3ept.
Interborough Rapid Transit (quar.).....
Joliet A Chicago, guaranteed (guar.).....
2X
Oct.
IX
IVi
IX
Oct.
Sept,
16
Oct.
1 Holden of ree. Sept. 15a
16 doluers ol rec. Sept. 80a
5
ct.
Hit.
2
3
IX
IX
IX
2
81
1
IX
IX
IX
IX
IX
.
Special guaranteed (quar.)..
St. Louis A San Francisco—
Chic. A East. His. pt. tr. ctfS. (quar.).
K. C. Ft. S. A Mem. pf. tr. Otis, (quar.)
Southern Pacific » <> (aw.i 0
>>.
Southern Ry.,M. AO. stock trust certs
Toledo St. Louts A Western, pref. (guar.).
Union Pacino, common (quar.)
Preferred
United New Jersey RR. A Canal (guar.)..
Oct.
Oct.
Oct.
Oct.
Sept.
Sept.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
1
Oct.
Oct.
IX
2
1
ct.
Oct.
Oct.
2X
Ct.
2
ct.
2X
Oct.
nfc.
ur
3X
-
.
1 Holders of rec. 8ept.20a
1 Holden of reo. Sept. 22a
15 Hidden of rec.Sept.22d
1 Hidden of ree. Sept.19
1 Holden of ree. Sept, lSa
30 Holden 0! rec. Sept. 15 ’
30 Holden of rec. Sept. 15a
18 Holden of ree. Oet31d
1 Holden of reo. Sept. 6a
1 Holden of rec. Sept. 10a
1 Holders of ree. Sept, 15
4 Sept. 11
to
Oct. ' 4
1 Sept. 10
to
Oet. 2
.v ;
IX
.
.11
Dee.
Nov.
2 He Oct.
Louisiana <fr Arkansas.
Manhattan Ry. gu. (quar.) (No. 106) ...
Minn. a. P.4tS.S.M.,cam <scprel (jno. 16>
Leased lines......
Newark A Bloomfield, guaranteed
N. Y. Central A Hudson River (quar.)..
New York A Harlem, common and pref...
N. Y. Lackawanna A West., guar, (quar)
N. Y. New Haven A Hartford (guar.)
Pan paid stock, issue of Dec. 20 1909..
Norfolk A Western, preferred (quar.)
Northern RR. of New Hampshire (quar.)..,
Old Colony (quar.)
..j..
Pittsb. Bessemer A Lake Erie, common.
PIttsb. Ft.Wayne A Chic. teg. guar, (qu.)
-
Oct.
5
Sept.
2X
Oct.
’
.
.....
.....
Oct.
ct.
Oct.
Oct.
Oct.
Oct.
Oet.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct-
Oct.
Oct.
Oct.
Oct.
Sept.
Oct.
Oct.
•nt.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
*vk>.
Oet.
Oct.
to
to
10 Sept.
1
Sept. 80
to
'
•
;
:
j
'
•
Trust Companies.
Guaranty (quar.)
...
Knickerbocker (guar.).
-
Lawyer*' Title Ins. A Trust .(gu). (NoAS >
.
.
.
!Union (guar.)...t......
.
’-O'.
1
1 l IT
•
4
'
,v i-
1 Holden of ree. Sept. 17a
1 Holders of reo. Sept.l5a
1 Holden of reo. Sept.lSa
I Holden of reo. Sept.lSa
4 Sept. 16 ; to
Oet. l 3
1 Sept. 20
-to
Oct, l
1 Holders of reo. Sept.lSa
1 Hidden of reo. Sept.lSa
1 Holden of rec. Sept. 15a
1
Oct. 1
1 Sept. 11
to
Sept.lft
1 Sept. 11
to
Sept. 1ft
1 Holden of reo. Sept. 19a
IS Oct.
9
to
Oct, 18
1 Sept 11
*A
RApt. 21)
1 Holders of ree. Sept,12a
1 Sept. 16
to • Oct. ' !1
1 Holdenof reo. Sept. 15a
1 Holden of reo. Sept. 5a
3( Sept. 20
to
Sept. 80
l
1 Sept. 26
Oot.
to
1 Sept. 23
to
Oct. 3
o-v
21
31
tq , Sept.30
1 Holden of reo. Sept, 16a.
of
reo. 8ept.l6
1 Holders
1 Holden of reo. Sept.15
1 Sept. 25
Oot. L
to
to
Sept. 14
Oct. 2
] Holden of ree. Sept.lSa
Sept. 24
to
Oct.. 2
to
Sept. 14
t,•'
:
Holden of ree.
,
,■
1
|:1 *
Sept, li
2X
3
3
Sept. 9 ) Holders of ree. 8ept.3oa
Sept.30
ti>
Sept. 3( ) Sept, 24
Oct.
Sept. 16
to Oet. - 3
Oct.
Holdenof reo.Sept. 17a
.....
Long Island loan A Trust (guar.)......
Mechanics of New Jersey (guar.) (No. 45 )
Metropolitan (guar.) (No. 55)
......
Mutual of 1 estchester county (guar.)...
v
Oct.
Oct.
Oct.
2
......
.
v: •
1 Holders of res. Sept. 15a
1
mem of reo. Sept. 9a
1 Sept. 15
to
Sept.30
1 Sept. 17
to
Sept.30
*
.......
.
«'»l<iers of rec. Sep. 16a
15 Holden of rec. Oct, 6a
Holden
of ree. Sept. 12
15
1 Holden of rec. Sept. 15a
Sept. 11»Sept. 2
IX
v.
3
2
;v
Banks.
Coal A Iron National (guar.)..
' 1
)
•ifipre of warr’t. No.16
1 Sept. 16
to
Sept. 30
15 Holders of ree. 8ept. 30a
i •fept. 13
-to
Oct. 12
1 *»pt. 13
to
Oct. -12
.
Bangor Ry. A Electric (guar.)
IX
....
1^
Brooklyn Rapid 'transit (quar,)..
Capital Traction, t ashington, D.C., (gu.)
IX
2
Central Pennsylvania Traction.
Cleveland Railway (guar.)
IX
Duluth-Superior Traction, com. (quar.)..
IX
1
Preferred (quar.)
Frankford A Southwark Pass. Ry., Phlla
84 50
Germantown Passenger Ry. (guar.)
8131X
Halifax Elec. Tramway,Ltd. (gu.) (No. 55)
IX
2X
Houghton County Tract., 00m. (No. 3)..
3
Preferred (No. 6)
Illinois Traction, preferred (guar.)
IX
Kokomo Marion A Western True., pref...
3
1
Louisville Traction, common (quar.)....
Preferred..
2X
Manila Elec. RR. A Ltg. Carp. (guar.)...
1
1
Northwestern El. RR., Chic., pref. (quar.).
PhtlfufolphlA Traction
Portiand(Ore.)Ry.,L.&P.,pf.(qu.)(No.l7)
IX
Ridge Ave. Pass. Ry., Phlla. (guar.)
83
St. Jos. R.Jj.,H.A P., pref. (gu.) (No. 32)
IX
Second A Third Sts. Pass. Ry., Phlla
83
South Side Elevated, Chicago (quar.)
X
Stark Electric RR. (quar.)
X
Terre Haute Indianap. A East., pref. (gu.)
IX
Terre Haute Traction A Light, common.
1
Toronto Railway (guar.)
IX
Twin City Rap. Transit, 00m. (quar.)
IX
;
Preferred (quar.)
IX
Union Traction of Indiana, preferred
2X
United Traction A Elec., Providence (qu j
IX
Washington Water Paw., Spokane (guar.).
IX
West End Street, Boston, common
81-75
1
Wheeling Traction
"
*•
.
1 8ept. 17
1 Sept. 17
Street and Electric Railways.
Metropolitan (guar.)
Mount Morris (guarJ.
Bonds.
Sep. 23a
Aug.31d
Sept. ta
Oct. ' 6
Oet. 5
10 Holden of rec. Nov30a
1 Sept. 18
to
Oct. 17
15 Holden of reo.Sept.l5a
15 Holden of ree: Sept. 10a
1 Holden of ree. Sept34a
3 Holden of reo. Sept34a
Erie A Pittsburgh (quar.)
Evansville A Te, re Haute common
Preferred
Fonda Johnstown A OloversviUe, pref.
8
8
52,644,329 50,812,004 17,545,140 15,795,700
49,927,25.1 45.319.475 18,778.746 17,775,728
56,874,80'. 58.684,184 21,988,922 19,064,331
52,027.28
51,709,272 16,276,428 18,802.924
58,511,64 > 48,571,972 14,999.383 16,846,056
61,704,70
52.404.342 17,119,870 17,318,187
as
—L
Books Closed
When
Payable
Oct.
3H
Chesapeake A Ohio (quar.)
Chicago Burlington A Quincy (quar.)
Chicago A Eastern Illinois, pref. (quar.).
Chicago A North Western, pref. (quar.)..
Warren, guaranteed
Waynesburg A Washington
West Jersey A Seashore-
1909.
Total... 629,684,078 670.956,850452,988.700 407,297,087 143,895,669 146,064,201
The
844,909
DIVIDENDS.
U»»ca A bttcK
61,789,335
73,074,545
80.729.503
75,898,644
69.230.504
73,252,301
months have been
1332.704
+26.7 69*013,145 83,76935*
.
8
1,157350
1,118,432
The
-
8
1,824386
1,562.117
1,686,435
—
...
Merchandise Movement to Neto York.
Month.
■
ed In to tal.
531,764 Not lnciud ed In to tal.
—
Money in Circulation—
States.
T 155,434,038
3,587.000
346.681.016
717.321,051
8
+I3.2 25,970.662 31,148,660
following shows all the dividends announced for the
3,659j
* 2.4641
2,705 :uture
by large or important corporations:
463,922 50J10 70,612 60~498 134.246
Dividends announced this week are printed in italics.
STOCK OF MONEY IN THE COUNTRY.—The following
table shows the general stock of money in the country as well
Subsidiary silver
Treasury notes of 1890
1907.
8
1,322,913
1,215,795
374,712 Not indud
Regina
year.
Gold coin and bullion
Gold cerUflcatee.a
Standard silver dollars
Silver cerUflcatee.a
1908.
2,146.598 —18.9 2356.792
1.378.591 +25.9 1,431.894
1,261,539
+2.2 1326,494
1.382.523 +25.6 1,280,387
1,776,762 +38.6 1,131,291
1,459,718
+7.5 1.015317
978.743 +21.4
873,465
862,627 +53.3
726,079
Not lnciud ed In to tal.
Includes corporation tax of 883,926 for July and 823,563,997 for the five months
the
Inc. or
Dec.
1910.
1,569,393
Victoria
London
Edmonton
Note.—1909 receipts do not include 830,731,008 proceeds of Panama Canal bonds.
as
ending September 10.
Clearings at—
Winnipeg
8
8
8
8
8
8
8
27,660 25.051 29,279 219,260 29,614 28,673 28.590
42,076 29,582 22,963 200,703 23,516 21.208 19,719
6.535 4,185 2,727 36,010 6,770 3,910 2,773
Customs
Internal revenue*
Miscellaneous
ng .Sept. 10 at Canadian cities, in comparison with the same
week of 1909, shows an increase in the aggregate of 25.7%.;“i
Canada—
Montreal
Toronto
1909.
(000a omitted.)
Receipts—
Canadian Bank Clearings .—The clearings for the week end-
of the calendar years 1910 and 1909.
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
June.
695
.
] Sept. 23
Sept, 21,
to
Sept, $ 0
’X
Oct. m] Sept, 29 .to
oct, 1
to ‘ sept, so
Sept. 31) Sept. 20
IX Sept. S< ) Hidden of ree. Sept. 2S
to OeJktft'
12 X Oct. : 11 ® Oot. ft
6
6
_
!'
THE CHRONICLE
T TV
V*T
T
1jaAaaX«
ma
Name
Per
Cent.
of Company.
MiKellanroii*.
Aeolian, Weber Piano A Pianola, pf. (gu.)
Amer. Beet Sugar, pref. (quar.) (No. 45).
American Can, preferred (auar.)__
American Caramel, preferred (guar.)
Amer. Car & Fdy„ coin, (qu.) (No. 82)..
Pretend (quar.) (No. 46)«.....„.„.,„
American Chicle (monthly)
____
I*
1
1
America n Express (<umrJ..
v- +■ - • Amer. Iron A Steel Mfjg., com. Apt. (qu.)
American Locomotive, pref. (quar.)
-..
-
American Manufacturing
Amer. Pipe <fcConstruction (quar.).American Pneumatic Service, first pref
American Radiator, common (nuar
Amer. Seeding Machine, pref. (guar.)
American Shipbuilding, preferred (auar.).
Amer. Smelt. A Rfg., com. (qu.) Ofo. 28)
Preferred (quar.) (No. 45)....-.
_..
American Snuff, common..
Common (extra)...
Preferred (quar.)...
ffc,
American Tobacco, preferred (quar.)....
American Type Founders, common (guar.)
....
.....
General Chemical, preferred (quar.K_.__
General fke1 •'(> ^p-.r m.
Goldfield Consolidated Mines (quar.)
Extra .iSt.
; mm
Gotham Manufacturing, pref. (quar.).j..
Great Lakes Towing, preferred (guar.)...
GUggenheim Expleratlon (quar.) (No. 31)
Hbtnestake Mining (monthly) (No. 430)..
Intercontinental Ruubber, com. (No. 1).
.
.
_
_
_
_
■j Preferred (quar.).^
International Harvester,com. (qu.) (No .3)
International Silver, pref. (quar.)
■Preferred (extra).^j.........
...
Interna t. Smokeless Pow. AChem.,com. (qu)
Preferred
Lanston Monotype Machine (quar.)
Mackay Companies, com. (qu.) (No. 21).
Preferred (quar.) (No. 27)....
Massachusetts Gas Cos., common (guar.)..
Massachusetts Ltg. COs. (guar.) (No. 28)..
■Mfe Department Stores, pref. (gu.) (No. 1)
Mergcnthaler Linotype (guar.)....
Michigan State Telephone ,pref. (qiiar.)..
National Hificuit.com. (quar.) (No. 48)..
Nat. Enam. A Stamp., pref. (qu.) (No.47)
National Lead, eomrOnn fouar.)
National Licorice, pref. (guar.y (No. 33)..
National Sugar Refining, pref. (quar.)...
National Surety (guar.)
..
Nevada Consolidated Copper (quar.)
New England Cotton Yam, common..
Nets Orleans Brewing, common
seDt.
3<
IX
1X
Oct.
Oct.
1
Oct.
IX
Oct.
Oct.
Oct.
Oct.
IX
iv4
ct.
2H
IX
Sept.
IX
IX
Oct.
Oct.
Oct.
Oct.
1
oct.
1
IX
IX
IX
IX
$7
2
mleS-Bdment-Pond, common (quar.)
Edith American Company (qU«r.)......
Oils Elevator, common
Preferred (quar.)....
Pay-as~You-Enter car Corp., pref. (guar.)
Fhelpe, Dodge A Co., Iric., (quar.)......
Pittsburgh Pidte Glass, common (jguar.)
Quaker oats, common (quar.)...
Common (extra)
»
Preferred
trmnt* y_
-
Hallway Steel-Spring, pref. (quar.)
Republic rron A Steel, pf (qu.) (No. 35)
Royal Baking Powder, common (quar.)..
'-Preferred (quar.)
S&fety Car Heating A Ltg. (oUar.).IIIII
St. Joseph Stock Yards (guar.)
Sears, Roebuck A Co., pref. (quar.)
Shawtntgan i * ater A Power (otter.)
A Iron, pref. (quar.).
South Porto' Rico Sligar Co., com.(quar.)
Common (extra)
Preferred
(quar.)
Subway Realty (qiiar.).
fftrlft
A Co.
_
(quar.) (No. 96)
TfxdS A Pacific Coal (guar.)
Undbrwood
Typewriter, pref. (quar.).
Union Bag A Paper, pref. (quar.) (No. 46)
Union Typewfietr, first preferred
Nov.
Sept.
IX
2
Sept.
IX
IX
IX
Oct.
Oct.
Oct.
1*4
2
i
IX
sx
IX
IX
IX
IX
IX
2
3X
IX
IX
IX
2
2X
IX
Ct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
2.
Sept.
2X
Nov.
IX
JCt.
2
30c.
20c.
Oct.
Oct.
Oct.
Oct.
Oct,
Oct.
IX
m
2X
50c.
1
Sept;
4
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
IX
IX
Oct.
1
1
oet.
Nov.
IX
IX
2X
Oct.
Oct.
1«.
1
IX
X
X
Sept.
Sept.
IX Nov.
IX Oct.
1M Sept.
X
IX
IX
2
4
Oct.
Sept.
Oct.
Oct.
Oct.
5
2
Sept.
IX
Sept.
m
Oct.
Oct.
Oct.
out.
Oct.
IX
IX
lx
2X
IX
-
_
U »*•. Stem Corn com.(no r.) <No. 27)..
Utah Copper Co. (quar.) (No. 9)
VPrgtnta-CaroHna Cheth. ,pf. (qu.) (No. 60)
Westoht Union Teleg. (guar.) (No. 166)..
TukOh Gold Co. (quar.) (No. 5)_-
Sept. 17
Oct.
1
1
28
1
1
1
10
1
15
15
1
1
1
30
1
1
1
i
1
1
1
25
1
1
1
1
30
1
J
l.c
Holders
Holders
Holders
Holders
Sept.
Oct.
IX
IX
1
IX
1
2
2
IX
IX
IX
IX
1
2
10
2
2
IX
1
IX
IX
JH
76c.
2
X
2
sept.
Oct.
Oct.
oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Sept.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Sf»nt.
Sept.
Oct.
Oet.
Sept.
6
Sept. 20
Sept.15a
Sept. 15a
Sept.15a
Sent. }a
Sept. 30
Oct.
to
6
Sept. 20
Sept. 15a
rec.
of rec.
of rec. Oct. 15a
of rec. Aug. 31a
of rec.Sept. 15^
Sept. 15
Sept. 15
to
to
Sept. 30
Sept. 30
1
Oct.
Holders
1
Oct.
Oct.
1
Holders
Holders
Holders
to
Oct.
Sept. 28
9
of rec. Sept. 15a
to
Oct. 15
Oct. 15
to
of rec. Sept. 10
of rec. Sept. 15
of rec. Sept. 15
to
Sept. 30
Holders of rec. Sept. 26
Holden of rec. Sept. 15a
Holdere of rec. Sept. 150
Holdo’s of rec. spn.15 u
Holders of rec. Sept. 19a
Holders of rec. Sept. 17
Holders of rec. Sept.2ia
< Oct 19
to
OCt\ 25
Holdere Of rec. Sept.200
Holders of rec. Sept. 20
Holders of rec.Stept.15t
Holders of rec. Sept. 15a
Holders of rec. Sept.30a
Holders of rec. Oct.29d
Holders of rec. Sept.2lft
Holders of rec Sept. 3n
Holders of rec. Sept. 30a
.
31
31 Holders ofTec. Sept. 30a
3 Holders of rec. Sept. 24
1 Sept. 21
to
I Sept. 17
to
Otet. 2
26 Sept. 21
to
i.
1 Holdters of rec. Otet. 15
1 Holders of rec. Sept. 22
15 Holders of rec. Sept.24a
1 Sept. 20
Oct.
2
to
1 Stept. 20
t»
Oct. , 2
1 Holders of rec. Sept.20a
15 Holders of rec. Nov. 5a
30 Holders of rec. Sept. 23
1 Holders of reo. Sept.lOa
1 Holders of rec. Sept.lOa
1 Holders of rec. Oct. 15
15j Holdere of rec. Oct. la
Holdere of ree. Sept. 20
Sept. 18
to
oct. 16
to
15 Holdters of rec.
30 Sept. 11
to
1 Sent,. 10
to
30 Sept. 24
to
3 Holders of ree.
1 Sept. 21
to
1 Sept. 21
to
30 Sept. 17
to
Sept. 30
Nov.
1
Step. 2Ra
Sept. 30
Sent. 13
Oct.
2
Stept. 17
Oct.
2
Oct.
2
Sept. 16
to
Otet.
We omit two ciphers
Holdere of ree. Oet. id
Holders of rec. Oet.. Id
Holdere of rec. Nov. la
to
Banks.
00s omitted.
Capital.
..
Stept. 20
) (loldtere of rec. Sep. 17a
30 Holdters of rec. Sept. 15a
30 Holdere of ree.Sept. 15a
1 Holders of rec. 8ept.l4a
30 Sept. 23
t6
Sept. 30
1 Holdere Of rec. Sept. 15a
20 Holders of rtec. Oct.
7
1 Hbldere of rec. Sept. 23a
1 Sept. 21
to
Oct.
2
1 Sept. 21
to
Oct.
2
1 Sept. 21
to
Oct.
2
1 Holders of rec. Sept.24a
3 Holdere of rec. Sept. 10
30 Sept. 21
to
Sept. 30
1 Holdere of rec. Sept. 20
15 Holdere of rec. Sept. 30
1 Holdere of rec. Sept. 17a
1 Holders of rec. Sept. 17a
1 Sept. 16
to
Oct.
2
15 Holders of rec. Sept. 27
4 Holdere of rec. Oct. 24
15 Holders of rec. Sept. 30
5 Holders of rec. Sept. 20
5 Holdere of rec. Sept. 20
1 Holders of rec. Sept. 20
1 Holders of rec. Sept. 20
1 Sept. 21
to
Oet.
2
29 Sept. 2
to
Sept 15
30 Sept 17
to
Sept .20
Oct.
1
to
Oct. 16
15 Sept. 21
to
Oct. 12
30 Sept. 14
to
Sept. 30
Surplus.
(00) in all
Loans.
Average.
cases.
...
Specie.
Average.
Legate.
Average.
S
%
BeDeposits.
Average. tve.
Mi
*
Baufcof N. Y__
Manhattan Co.
Merchants*
Mech. A Metals
America
Phenix
I
,
3.520.3
20.908,0
2,050,0
4.184.5
2.000.0
6,000.0:
1.300.0
1.000.0
7,988,0
5.874.2
32,400,0
21,088.0
63.177.6
25,040,5
7,095.0
167.749.6
28,2933
6.7623
8.444.5
2.738.5
7.512.1
31,245,3
154.122.6
14.943.2
3.808.1
7.515.4
2,022,6
72,006,2
21,207,0
7,081,8
8.787.7
12.309.6
1.789.6
724.9
25.000.0 31,619.7
3,000.0
6.494.7
Merchants, Ex.
600.0
582,0
Gallatin
1,000,0 2.533.2
Butch. A Drov.
300.0
158,0
Greenwich
500,0
832.9
American Exch.
5,000,0
4.439.8
Commerce..... 25.000.0 16.497,4
Mercantile
3,000,0
2.726.2
Pacific
500,0
913.1
Chatham
450,0
1.059,7
People’s
200,0
4703
Hanover
3,000,0 11.910.1
Citizens* Cent..
fr.880.0
1.746.7
Nassau
500,0
538.2
Market A Fult'n
1.000,0
1.720.7
Metropolitan
2,000,0
1.478.9
Com Exchange.
3,000,0: 5.254.1
Imp. A Traders'
1,500,0
7.545.9
Park
5,000,0 12.524.1
East Rlvter_
250.0
108.5
Fourth
5.000.0
5.624.9
Seteond
1.000,0
2,080,9
First
10,000,0 20.589,9
Irving Exch...
2,000,0
1,655,0
Bowery
250.0
816.9
N. Y. County..
500.0
1.657.4
German-Amer
689.5
750.0
Chase.........
5.1
7.706.8
Fifth Avtenue..
1
2.109.4
German Exch..
895.2
Gtehnania.....
1.016,6
Lineol k
1.542.6
1.000,0
1.197.7
499.9
250,0'
Metropolis':::
2,078
1,000.0
tyest side
200,0
1.019
Seaboard.
1.960.2
1.000,0,
__
Chemical..
.
....
-
----
..
...
.
-
-
-
Liberty
N. Y. PTOd. EX.
State.....
14th Street....
Coal A Iron Nat
.
2,000,0
City
1,000,0
2.771.7
l.ooo.o:
1,000,0
757.1
782.2
1;000,0!
320,4
1,000,0
892,1
42,645,0
25396,0
81,936,0
1.501.2
28.075,0
12.434,0
104,b20,3
22,116.0
3,528,0
7.712.5
4.136.6
77,526,0
12.468.3
3.950.7
4.917.3
13.751.5
im
^So5
18.281,0
19.636.6
8.283.8
14,406,0
5.700.8
6,095,0
4.388.0
9.872,0
4,177,0
11.945.7
4.361.6
1,119,0
55.483.2
4.707.4
1.551.6
1.247.8
403.1
1.817.2
5.233.9
28.777.3
1.728.6
388.3
8703
396.1
15.325.4
5,018,3
941.7
1,179,1
3.174.8
S
920,0
1,589,0
1,379,0
1,021,0
2,031,7
312.0
6.540,0
1.978.9
131.4
455.3
68.8
186,7
2,043,1
7,086,6
1,097,3
440.6
1.141,4
.138.8
6,674,6
324.1
1,008,6
%
19,414.0 27.8
38,850,0 29.2
21324.0 25.4
61.365.1:25.2
25.082.6 25.A
5,881,0 25.0
175,192.3 35.4
25.918.6 25.2
6.785.4
6)572.6
2.171.9
8.322)6
29.146.6
135,473.0
11335.9
8.178.6
7.910.5
2.1433
82.955.7
20.316.6
24.8
25.9
21.7
24.0
25.0
26.5
25.1
26.9
25.4
25.9
26.5
26.4
7,935,1 24.5
8.5983 25.4
12.927.5 26.1
1.008.7
204.9
6,968.0 5,131,0
3,563,0 2,338,0
21,871,0 1,115,0
236,0
91.1
5.189,0 2,300,0
2.855,0
231,0
20.899.7 1,968,1
6.140.6 1.141.9
888,0
62,0
603.1
1.206.4
223.7
781.4
17,253,0 5,224,0,
2.450.7 1,214',$
430.7
420.9
892,3
511.5
3.303.9 1,094,1
237.5
1.626.3
658.2
251.5
956.5 1,604,9!
973,0
.241,0
4,663,0 1,651,0
787.5
4.781.5
287.1
2.329.6
4,215,0
301,0
510.4
1,038,7
808,0
872,0
49,294.0
23354.0
86,501.0
1.388.4
27.503.0
12,043,0
24.5
253
263
23.5
273
26.5
93.485.9 24.4
24,881.0
3,754,0
7.602.4
3.961.7
29.2
263
243
253
85.747.0 263
14.127.6
3.8563
5.623.9
15,1413
7,8643
3.514,0
10,2443
4,802.0
21,692,0
20,901,1
9.909.7
17,686,0
6.0963
6,304,0
25.9
22.9
25.0
29.0
23.7
28.9
25.0
253
29.1
26.6
26.4
28.5
25.4
26.5
Totals, Average 132,380;0 193.297,9 1261,787,7 280,765,6 68.196.6 1276,478,1 273
U.-.ML
Actiial figures
Sept. 10 J_
1261,101.0 278,329,4 67,929,5 1272)768,1 273
On the basis of averages, circulation amounted to 544,860,400 and United State*
deposits (Included In deposits) to #1,664,400; actual figures Sept. 10, circulation,
644.875.400; United States deposits. $1,643,400.
The State Banking Department also now furnishes weekly
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
returns of the State banks and trust
following:
For definitions and rules under which the various items
made up, see “Chronicle,** V. 86, p. 316.
are
STATE BANKS AND TRUST COMPANIES.
Week ended'Sept. 10.
Trust Coe.
State Bahks
Trust Cos.
State Banks
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
,
%
Capital as of June 3b
Surplus as of June
Loans and
3b....
Investments..
Change from last week.
2
Transfer books not dosed. 6 Declared 7% payable In quarterly Installments.
AOoReetlom
e Departed 5%,- *
»'•- ««% Oct. 15 1910 and 2X% April 15
1911.
a
at the end of the week are also
given.
For definitions and rules under which the various items are
made up, sbb “Chronicle,** V. 85,
p. 836. -
Sept. 25
1 Sept. 17
to
Stept. 30
Holders of ree. Sept. 24
Holdere of ree. Sept. 17
Holders of rec. Oct.
1
sept, ii
to
Sept. 20
Holders of rtec.Sept.15a
Holdere of rtec. Stept. 30
Holdere of ree. Sept. 30
Holdere of ree. Oet.
1
Holdere of rec. Septl7a
29
22
15
20
1
Id
15
13
29
1
IS
15
30
Sept. 20 Sept. 8
CT.
Oct.
to
Sept. 24
IX
IX
sept.
Sept.30a
Oct. 16
l Holders of rec. Sep. 15a
l Sept. 18
to
Sent. 3d
.JCt.
3
30
Holders of rec. Sept. 15a
Holders of rec. Oct. 10a
Holders of rec. Oct. 10a
oct.
NV»v.
IX
Extra dividend
Sept.
Sent
3 Holders of rec
X
IX
4
United Gas improvement (quar.)
United Shoe Machinery, common (guar.).
>Preferred (guar,)...
U. 8. Finishing, com. (guar.) (No. 7)
Preferred (quar.) (No. 45)
United States Printing Of Ohio (guar.)
to
23
15 Holders of rec.
15 Sept. 18
to
15 Oct.
1
to
1 Sept. 15
to
1 Holders of rec.
1 Holders of rec.
1 Holders of rec.
30
1
15
15
15
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending Sept. 10.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
to
-*er>t
2
3X
Second preferred
United Bank Note Corp., pref. (quar.)
United Fruit (guar.) (No. 45)
.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
■
8toiSi43heffield Steel
Oct.
2t Sept. 22
Sept. 30 Holders of
37Xo. Sept.
3X Oct.
5
Sept.
Preferred i
Niagara Falls Power (guar.)..
Sept. 30
to
of rec. Sept.lOa
of rec. Sept.lOa
of reo. Sept. 14
of rec. Sept. 14
of rec. Atte.3)a
of rec. Sept. 20a
Sept.
......
Extra
Holders
Holders
Holders
Holders
1 Holders
1 Holders
2
..
Preferred
Sept. 11
3X
Preferred (9«ar
.
K«S%.
Holders of rec. Sept. 24
Holders of rec. Sept.21a
Holders of rec. Sept.16a
Oct. 20
1 Holders of rec. Sept. 15
1 Holders of rec. Sept. 15a
30 Holders of rec. Sept. 17
Central Leather, preferred (quar.)
Chic. Junc.Rys.A XJ. Stk. Yds., com.(gu.)
Preferred (quar.)
Chicago Telephone (quar.)
City Investing, preferred (quar.).
Columbus (O.) Gas A Fuel, pref. (quar.).
Columbus Light, Heat A Power, pref. (gu.)
Cuban-American sugar, preferred
Cumberland Tel. A Tel. (quar.) (No. 108)
Dominion iron A Steel, Ltd. .pref...
DUluth Edison El., pref (gu.)(No. 18)
duPont(E.I.)de Nemours Powd., pf.(qu.)
du Pont Internal. Powd., pref. (quar.)..
Eastern Light A Fuel, common (guar.)
Eastman Kodak of N. J., com. (quar.)..
Preferred (quar.)..
Electrical Securities Carp., com. (guar.)
Sept.
Sept.
30
1
1
1
1
1
20
20
Oct.
Oct.
Oct.
Oct.
Preferred
American P oolen, pref. (guar.) (No. 46).
American Writing Paper, preferred... ..
Brooklyn Union Gas (auar.) (No. 38).
Buffalo General Electric (guar.) (tfo. 64)..
Butte Elec. A Pou>., com. (guar.) (No. 24)
Preferred (guar.) (No. 37)
Calumet & Hecla Mining (quar.)
Cambria Iron
Canadian General Elect., Ltd., com. (qu.)
Preferred .w -s...
Canadian l estinghouse, Ltd. (gu.) (No.23)
Celluloid Company (quar,)
Central Coal A Coke, common (guar.)
Oct,
Oct.
Oct.
Oct.
Oct.
iff
l*
5
2
Amer Smrr befin;. com * pref. (quar.)
American Surety (guar.) (No, 85).-
Books Closed.
Days Inclusive.
Sept.
...
Extra
When
Payable.
Specie
%
•9,033,00b
*8,375,000
37,935,400
171,281,390
*10,88<U51
*13,077,768
293,099)800 1.065,885,200
+3,090,10d —3,727.000
93,884,200
138,031,100
—518,400
49,312,000
113,824,200
—3,001,700
—1,745,400
Legal tenders A bk. notes
Change from last week.
24,600,000
—203,200
11,512,600
+203.000
Change from last week.
Reserve on
deposits
Change from last week.
P.
+250,000
....
340,332,100 1.089.624,400
+ 1,197,500 —10,434,000
98,906,300
—23,900
144,253,809
+432,300
94,723,800
—3,256,800
20,569,600
—246,500
20.124,300
+743.100
to deposits..
28.3%
Percentage last week..
29.4%
c. reserve
5
65,406,000
"Change from last week.
Deposits
5
25.125,000
133,324,500
—1,104,100
16.3%
16.4%
14.8%1^
14.1%
21.5%
21.7%
_
lAst week. — Decrease from last week. * As of March 25.
‘Surplus'’ Includes all undivided profits. “Reserve on deposit*” la
eludes, for both trust companies and State banks, not only cash items, but amount*
due from reserve agents.
Trust companies in New York State are requirattby
law to keep a reserve proportionate to their deposits, the ratio varying according to+ Increase over
locatfon as shown below.
The percentage of reserve required la 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 Stat*
of New York.
The State banks are likewise required to keep a reserve varying
according to locaUon, the reserve being computed on the whote amount of deposit*
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by bonds
Of the State of New York.
•
Trust Cos.—
—State Banks—
Reserve Required for Trust Companies
Total
Total
Of
Of
and State Banks.
Reserve
which Reserve
Location—
Required in Cash.Required in Cash
Manhattan Borough..
15%
15%
25%
15%
,
Brooklyn Borough (#ithout branches In Manhat.)15%
(without branches m Manhattan) 15%
Brooklyn Borough,Vrith branches in Manhattan.. 15%
Other. Boroughs with branches in Manhattan
15%
Elsewhere in State..
10%
Other borotlghs
10%
10%
15%
15%
5%
20%
15%
20%
15%
15%
10%
7H%
20%
16% 1
8% J
Sept. 17 mo.]
smomcLE
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-
the whole
Site
reater
for New
York.of the banks and trust companies in the
NEW YORK CITY BANKS
Clear.-House State Banks &
Banks.
Trust Cos. not
in C.-H. Aver.
Average
Clear .-House
Banks.
A dualFigures
Week ended Sept. 10.
AND TRUST COMPANIES.
Total of all
Banksdc Trust
Cos. Average.
Capital
as
of June 30..
132,350.000
132.350,000
74,581,000
206.931,000
Surplus
as
of June 30..
189.131.400
189,131,400
179.347.900
368,479,300
Loans and investments 1,261,101,000
+2,909,400
Change from last week
1,261,787,700
+ 10.461,000
1,272,758,100 1,276,478,100
Deposits
Change from last week —2,793,400 '—1,414,900
1,093,805,500 2,355,593,200
—3,768,200
+6,692,800
al ,044.293,200
2,320,771,300
—4,288,300
—5,703,200
Change from last week
278.329.400
—4,693,100
280,765,600
—10,180,700
120.282.900
—1,451,900
401.048,500
—11,632,600
lAMl-tenders
Change from last week
67,929,500
+205,900
68,196,600
—1,999,600
519,928,100
+469,300
88,124,700
—1,530,300
Aggr'te money holdings
Change from last week
346,258,900
—4,487,200
348.962,200
—12,180,300
cl40,211,000
—982,600
489,173,200
—13,162,900
Honey
on
other bks. A trust
cos.
27,283,000
+ 1,282,900
346,258,900
—4,487.200
reserve
Change from last week
Loans.
Specie.
Legals.
$
*
*
reserve
Deposits,
$
Boston.
348.962,200
—12.180,300
27,283,000
1.282.900
+
167,494,000
+300.300
516.456.200
—11,880,000
27.24%
27.53%
27.36%
246,504,0' 7,607.0
242.447,0 7,663.0
Aug. 20-.
Aug. 27Sept. 3—
55.465.0
55,465,0
55.465,0
250,960,0
296,783,0 16.374,0
Sept.10—
55,465.0
Sept.10..
•
401:1*.
74,9< )7,0
74,7 13.0
75.5,J8.0
74,5 >7,0
251,838,0
253,392,0
254,346,0
28.069,375
...
29,842,675
Deposits.
Specie.
Legals.
$
3
$
3
2,355.907,6 2.316.544.5
July 30.. 2.305,891.4 2,299.609.1
Ang. 6.. 2.319.167.3 2.299.315.5
Aug. 13.. 2.331.975.4 2.316.350,0
Ang. 20.. 2,339,911,8 2,326,315,7
Aag. 27.. 2.346.781.2 2.331.878.3
Sspt. 3.. 2.348.900.4 2.326.474.5
Sept. 10.. 2.355.593.2 2.320.771.3
Imports and Exports for the Week.—The following are
the week ending Sept. 10; also
the first week in January:
FOREIGN IMPORTS AT NEW YORK.
1910.
For Week.
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
401,048,5
Money
Holdings
Entire Res.
on
%
482.104.9
494.429.9
499.697.3
508,850.8
512,546,6
512,484,5
502.336.1
489.173.2
91.463.2
89,655,0
88.124.7
Deposit.
8
456.669.3
467.790.2
88.851.9
90.908.9
92.504.2
94.652.2
93,995.0
92.656.7
90.699.2
Capi¬
Sur¬
tal.
plus.
Loans,
Legal
Disc’is
Tender
and
Invest¬
Specie.
ments.
$2,954,980
13,178,697
$13,7o9,410
$16,133,677
General merchandise
$109,607,387 $118,230,765
635,442,5^9 474,205.494
Dry goods
General merchandise
Total 36 weeks
..
...
Jefferson
Mt. Morris.
Mutual....
$
$
100.0
250.0
400,0
300,0
200,0
500,0
250,0
200.0
100,0
200.0
270,6
160,2
362,5
751,7
175,5
521,3
313,8
371,3
453,8
106,5
952.4
451,8
265,5
Plaza
23rd Ward.
Union Exch 1,000,0
Yorkvllle..
Aetna Nat.
100,0
200,0
200,0
300,0
156,8
317,7
Borough of
and
Bank
Notes.
•*
479.891.1
490.754.8
504.939.4
518.815.9
525.172.3
535.467.8
539.637.8
637.996.1
528.336.2
616.456.2
Breadway
.
Mechanics’.
Namau Nat
Nat.£Clty_.
North side.
First Nat..
First lat..
Hud
Third Nat.
Hoboken
First Nat..
Second Nat
Tot! Sep!
200,0
252,0
1,000.0
3
1,197,0
1,425,8
4,847,7
6,064,0
909,0
3.101,1
2,495,8
3,415,2
3,949,0
1,814,8
8,393,7
4,088.3
2,235,0
1,417,5
2,140,5
Other
Net
Banks. Deposits.
Ac.
Clear¬
ing
Agent.
%
138,0
24.1
764,0
3
51,0
196,1
417,4
449,0
62,4
246.8
30.7
569.9
491,0
93,5
246,1
483.5
35.6
318,0
371,0
162,9
56,9
1,029.8 1.000,0
49,3
781,8
274,0
94,0
218.0
34,1
463,9
24.3
...
f —
$
15,0
145,9
898.4
69,0
179,0
46,0
717,9
865,0
186,5
216,5
654,7
476,0
822,0
290.7
139,8
197,4
278,0
84.3
319.4
77,9
5.3
^
300,0
400,0
250,0
200,0
1,251,8
751,9
394,5
5,351,5
3,105,6
2,044,4
24,8
318,1
827,1
622.0
92,0
125,0
335.0
283,3
124,8
63,8
436.1
348,3
1,324,6
295,0
568,0
104,8
80,0
89.3
20,6
468,9
81.6
128,6
$723,0
625,0
352.7
523,0
m v
1,802.6
202,4
736,2
%
1.216,0
1,499,6
6.959.3
6,801,0
923,7
3,447,5
3.426,5
3,988,2
4,891,0
2,130,8
8,089,3
5,256,2
2.449,0
1,240,8
2,008,4
'
578.8 3.844.2
109,0 5,795.5
241,6 14 495.5
7,605.0
174,0 5,041,0
109,9 2.459,9
38,0 3,311.0
144,0
99,9
60,3
6.545,7
2.656,8
2.601,7
220.0
125,0
623,3
245,9
3.047,0
2,706,4
130,3
96,3
22,2
89,6
161,2
,32.6
212,3
156,5
2.843,1
2.877.3
8,497,0 13,421,6 99.659.8 7.334.3 8.283,0 13,664.4 3,720.3 114304.0
8 8.447.0 13,131,6 99,639,1 7.289.0 8,046.9 13.Q39.8 3,522.6 113245.4
8.447.0
7,362,1 8,053,7 13,798,5 3,618.7 113967,9
Boston and Philadelphia Banks,—Below is a summary of
the {weekly totals of the Clearing-House banks of Boston
Philadelphia.
$13,622,827
$12,832,566
442,457,917
Total 36 weeks
1
1909.
$8,239,385
413,605,273
1908.
1907,
$11,892,831
432,566,267
$9,869,58$
425,275,090
$455,290,483 $421,844,658 $444,459,098 $435,144,$7$
The following table shows the exports and imports of
specie at the port of New York for the week ending Sept. 10
and since Jan. 1 1910, and for the corresponding periods in
1909 and 1908:
EXPORTS AND IMPORTS OF 8PECIE AT NEW YORK.
Exports.
Imports.
Odd.
Since Jan. 1
W eek.
$32,150,000
Since Jan. 1
$13,469,73$
3,423,750
4,455
West Indies
Mexico
South America
$3,400
3,283,332
25.000
9,243,166
41.900
All other countries.
Total 1910
Total 1909
Total 1908..
Silver.
Great Britain...
France
Germany
West Indies
Mexico
South America
All other countries
.....
$2,380
1,194
49.857
1.701.07$
874,71$
$28,400 $44,722,853
500,120 76,659,192
47,041,800
$53,431 $20,043,352
109,834
6.725,108
115,391 13,250,216
$845,755 $28,510,333
67,700
1,638.100
476,346
538
65,408
$13,344
1,294
■'40.755
$4,550
1,460
11,202
269,108
5,405
400
.
'500
Total 1910.
Total 1909Total 1908.
342j$$
231.492
$914,493 $30,736,347
747,8961 32,303,993
731,124 30,032,987
12.374
67,998
1.246.181
1,053,10$
974.730
$286,800 $3,359,027
39,443
3.539.978
58,009] 2,555.771
imports for the week in 1910, $5,785
were
American gold coin and $5,713 American silver coin.
Of
during the same time, $28,400 were Ameri¬
gold coin and $500 were American silver coin.
the exports
can
-
1
""
| "
> ;i
mmsmyom
gaufetng and ffltiattcial.
INVESTMENT SECURITIES
Our eight-page circular No.687 describes several Issues of sound
Investment bonds yielding about 4 H to 5 H%.
Spencer Trask & Co.
43 EXCHANGE PLACE. - NEW YORK
Brandi offices: Chicago. 111.. Boston. Mass., Albany. N. Y.
WHITE, WELD &
CO.
Members New York Stock Exchange
5 NASSAU STREET.
THE ROOKERY.
NEW YORK
CHICAGO
BANKING and EXCHANGE of every description in connection with
EXPORTS &
IMPORTS
-T-W-
■
13,131,$j $9,371,7
and
$14,462,828
$83,443,064 $132,835.26$
344,592,216 483,317,809
,
1408.0
1,464.6
1.500,0
m
259,5
5,0
JBfci+j
513,3 2.984.7
831,9 5,501,6
815,4 11,223.2
1,010.4 6,932,0
60,80 3,975,0
139.0 2,023,0
611,0 3,271,0
750,0
300,0
200,0
$3,773,926
9,848.901
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Sept. 10 and from Jan. 1 to date:
Of the above
Deposit with
.
toBrooUirn.
Mlrs.' Nat.
1907.
$2,854,120
11,608,708
$645,049,976^8592,436,259 $428,035,280 $616,153,072
—
Fidelity
1908.
$1,032,635
10.726,778
Dry goods
Total
Since January 1.
1909.
France
N. Y. City
Boroughs of
Columbia..
146,8044
106,392.1
the imports at New York for
totals since the beginning of
Week.
Reports of Clearing Non-Member Banks.—The following is
the statement of condition of the clearing non-member
banks for the week ending Sept. 10, based on average
daily results:
Colonial
125.482 4
118.646.4
299.806.0 16.484.0
Great Britain
Tot.
July 16— 2,331,502.9 2.300.377.2
July 23.. 2,318.054.8 2.298.440.2
Hgta
“1,947,0
297,474,0 16,427,0
300.431.0 16,448,0
Germany
Man.dk Brx
1X7,404,$
130,989,5
106,015,1
7,837,0
Including Government deposits and the item "due to other banks.” At Boston
deposits amounted to $3,037,000 on Sept. 10, against $3,052,000 on
Sept. 3.
Previously reported..
Loans and
Investments.
Banks.
137*4534
a
1910.
GREATER NEW YORK.
We omit two ciphers in all these figures.
9..
243,439,0
240.607,0
Clearingsi
s
22,629.0 4,678,0
204,712,0 21.976,0 4,902.0
206,500,0 21,787,0 4.573,0
206.059.0 20,882,0 4,509.0
COMBINED RESULTS OF BANR8 AND TRUST COMPANIES IN
July
'
204,375,0
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
M follows for a series of weeks past:
Ended.
*•
40,200,0
40,200.0
40,200.0
40,200,0
Aug. 20—
Aug. 27Sept. 3..
18.0%
18.0%
28.29%
+ Increase over last week.
— Decrease from last week.
U 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 SI,201,466,700, a decrease of $8,736,900 from last week. In
the ease of Clearing-House banks, the deposits are "net” both tor the average and
the actual figures, b Includes bank notes, c Of this amount State banks held
$14,874,200 and trust companies $125,336,800.
Week
*
■
Circu¬
lation.
a
EXPORTS FROM NEW YORK FOR THE WEEK.
Percentage to deposits
requiring reserve
Percentage last week..
Surplus
and
Surplus.
deposit with
Change from last week
Total
Capital
Banks.
Government
-y
Speete
We omit two ciphers (00> in all these figures.
Internationa) Banking Corporation
$0 Wag St.. New York.
CAPITAL ft SURPLUS. $6,500,000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
$0 Wall St, New York
Organized under the Laws of N. Y. State.
Accounts invited.
THAMAS
Interest paid on Term Deposits.
H.
HIIRRABD.
Pn
698
THE CHRONICLE
Paul, par. New Orleans, commercial, 75c. per $1,000
discount; bank, $1 per $1,000 premium. Montreal, 6234@
46%c. per $1,000 discount.
Wall
Street, Friday Night,pSept. 16 1910.
.The Money Market and Financial Situation.—Very little
significance attaches to any change of "values which has
taken place in this week’s Stock Exchange transactions.
...
Prices advanced
as
a
LXXXXI.
St.
IBank err (gazette.
The latter
[VOL.
first result of the election in Maine.
State and Railroad Bonds.—Sales of State bonds at the
Board include $30,000 New York Canal 4s at 102% to 103%
and $29,000 Virginia 6s deferred trust receipts at 45
An important feature of the bond market has
to 46.
been
a
tendency to higher quotation, especially for high-grade in¬
vestment issues.
Sales of New York State Canal
bonds
surprise to many and was variously inter¬ to-day were at an advance of 1 point from the last previous
preted as to its probable influence in other State elections sale.
The market for railway and industrial bonds shows a little
and the effect of this and other fall elections upon the busi¬
more
activity and in a few cases prices are fractionally higher.
ness interests of the country.
The advance in prices referred
Among the exceptional features are Chicago Great Western
to has, however, not been maintained.
The markets were 4s, which close 1% points higher than last week on limited
Rock Island issues have been strong in sym¬
weak on Wednesday and Thursday, were irregular and transactions.
pathy
with
the
shares and St. Louis & San Francisco 4s
unsteady to-day, and closing quotations are in the case of and
Interboro-Metropolitan 434s have advanced over a point
several important issues lower than last week.
within the week.
On the other hand, several issues close
Reports of conditions in the iron and steel industry are unchanged and a few are fractionally lower.
not altogether satisfactory and the future outlook for this
was a
and other industries seems to be somewhat uncertain.
On
the other hand, the agricultural resources of the country have
rarely been in such a promising condition at this season,
and,
as
is well known, prices have not been
as
high in recent
United States Bonds.—Sales of Government bonds at the
Board are limited to $500 3s, coup., at 102.
The following
are
the
page
daily closing quotations; for yearly
following.
years.
The Bank of England’s
addition to the percentage
weekly statement showed another
of reserve, the latter now standing
higher than the average at this season. The Associated
Banks of New York on Saturday reported a smaller decrease
in the surplus reserve than the previous week, and local
money market conditions are practically unchanged.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1^2 to 2M%.
To-day’s rates on call were 134@2%.
Commercial paper quoted at
5J£@5%% for 60 to 90-day
endorsements, 534@6% for prime 4 to 6 months’ single
names and 6^4@634% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £267,940 and the percentage
of reserve to liabilities was 53.42, against 52.06 last week.
The rate of discount remains unchanged at 3%, as fixed
June 9, - The Bank of France shows a decrease of 4,650,000
francs gold and an increase of 600,000 francs silver.
Interest
Periods
-
NEW YORK CITY CLEAKING-H OUSE BANKS.
r
■
•a—
— ~
....
i
•
v.
:
....
i
,;v
k
-
•
•
v
.
-
--
.
1910.
1909.
1908.
Differences
Averages for
Averages for
from
previous week.
weekending
Sept. 11.
week
$
*
132.360,000
193,297.900
Loans and discounts... 1,261*787,700
Circulation......
44,560,400
Net deposits....
i_ 1,276.478,100
U. 8. dep. (inch above)
1,664,400
280,765,600
Specie
i..
Legal tenders
68,196,600
....
Reserve held
Surplus
•
Averages for
week ending
Sept. 10.
Capital.;.
Surplus
25% of deposits
c
Inc. 10,461,666
Deo.
776,100
Dec. 1,414,900
Dec.
3,000
Dec. 10,180,700
Dec. 1,999,600
ending
Sept. 12.
S
S
127,350,000
126,350,000
174,754,000
161,115,900
1.348,305,200 1,322,730,500
51,630,400
54,493,100
1,381,329,300 1,420,061,900
1,678,000
9,462,900
279.929.500
326,511,600
71,872,000
80,496,700
348,962,200 Dec. 12,180,300
319,119,525 Dec.
353,725
351.801.500
345,332,325
407,008,300
355,015,475
29,842,675 Dec. 11,826,575
6,469,175
51,992,825
30,258,775 Dec. 11,827,325
6,888,675
54,358,550
reserve
Surplus, excl. U. S. dep
Note.—The Clearing House now Issues a statement weekly showing the actual
condition of the banks on Saturday morning as well as the above averages. These
figures, together with the returns of separate banks, also the summary Issued by the
State Banking Department giving the condition of State banks and trust companies
not reporting to the Clearing House, appear on the second page preceding.
Foreign Exchange.—Fluctuations have been erratic, with,
however, a tendency towards a higher level. Trading is
.quiet.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 8434 for 60-day and 4 87 for sight.
To-day’s actual
rates for sterling exchange were 4 8370@4 8380 for 60 days,
4 8620@4 8625 for cheques and 4 8650@4 8655 for cables.
Commercial
on banks 4 83 34 @4 8334 and documents for
payment 4 83 34 @4 83^. Cotton for payment 4 83 @
4 83)4 and grain for payment 4 83£4@4 84.
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 l-64@
5 1834 less 7-64 for short
Germany bankers’ marks were
94 9-16@94% for long and 9534@95 3-16 less 1-32 for short.
Amsterdam bankers’ guilders were 40 28@40 30 for short.
Exchange at Paris on London, 25fr. 23c.; week’s range
25fr. 2334c. high and 25fr. 22%c. low.
Exchange at Berlin on London 20m. 44pf.; week’s range
20m. 4534pf• high and 20ip. 43% pf. low.
The range of foreign exchange for the week follows:
Sterling, Actual.
High for the week
Low for the week
Sixty Days.
4 84%
4 83 %
Cheques.
Cables.
4 8640
4 8610
4 8670
4 8636
Paris Bankers' Francs—
High tor the week
5 20 lean! 1-16
Low tor the week
L;
5,20$* less 1-16
• i
Germany Bankers' Marks— j •
li.... 94 11-16
High for me week
Low tor the week
-i
|94% j
Amsterdam Bankers’ Guilders-*—
High for the week
40% ,
6 18 % lees 1-16
6 18% lees 1-32
,
•f
Loy for theweek....401-16
1
5 18 % lees 1-32
6 18% less 3-32
.;
.
96 3-16
* 96% leas 1-32
40 33
4028
95 6-16 lees 1-32
96 3-16 less 1-32
40 37
!
4032
[The following are the rates for domestic exchange at the
J urideiMttentioned tiities jat the close of the week: Chicago, 5c.
: Der [SllOOO
discount, Boston, 10©; per $1,000 discount.
Sain Francisco, 30c. pdr $1,000 premihm.
Savannah, buy¬
ing, 3-10 discount; .selling, par. St. Louis, 5c. per $1,000
discount. Charleston, buying, par; selling, 1-10 premium.
1930
1930
1908-18....
registered
1908-18...
coupon
1925
...registered
1925
1936.Panama Canal reels
1938.Panama Canal regls
2s,
2s,
3s.
3s,
4s,
4s,
2s,
2s,
*
range see
third
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
10
12
13
14
15
16
*101
*101
*101
*101
*101
*101
*101
*101
*115
*115
*101
*101
*115
*101
*101
*115
*101
*101
*100%
*100%
Q—Feb *101% *101% *101% *101% *101%
Q—Feb *101% *101% *101% *101% *101%
*115
*115
*115
*115
Q—Feb •115
Q—Feb *101
Q—Nov *101
This Is the price bid at the morning
board;
.
*115
*100%
*100%
*101%
*101%
*114%
*115
*100% *100%
*100% *100%
no sale was made.
Railroad and Miscellaneous Stocks.—The stock market
was strong during the early part of the week on what was
regarded as a favorable matter in the transfer of a relatively
large block of Rock Island shares to new interests in the
property and also on the result of the election in Maine.
Later the effect of these influences was largely offset by
profit-taking sales and by reports in regard to the iron and
steel industry referred to above.
On the first-named movement the list of active stocks
advanced an average of about 2 points, of which Reading
was the leader in an advance of 4%
points, while closing
prices
are nearly on a level with those of a week ago.
Long
Island has been exceptionally strong on the formal opening
of the Pennsylvania tunnels to Long Island traffic and is 6
points higher than
on
Aug. 30.
United States Steel has been very active and weak on
liberal offerings.
The copper shares have declined, Smelting
& Refining closing a point lower than last week.
General
Electric, Consolidated Gas and Great Northern Ore Proper¬
ties are higher.
For daily volume of
The following sales
represented in
our
STOCKS.
Week ending Sept. 16.
business see page 708.
have occurred this week of shares not
detailed list on the pages which follow:
Sales
Range for Week.
Range since Jan. 1.
for
Week.
Lowest.
200 25o.
100 69%
300x58
100105
250 85
200 38
100 18
245 40
65 90
100101
Comstock Tunnel
Duluth-Sup Trac, pref__
Evansville & Terre H__
Gen Chemical, pref
Homes take Mining
Keokuk & Des M, pref..
Peoria & Eastern
St Jos & Gr Isl, 2d pfd_.
Sou Porto Rico Sugar..
United Cigar Mfrs, pref
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Highest.
15 27c.
14 69%
16 x58
12 105
10 85
13 40
12 18
14 40
14 90
13 101
Lowest.
Highest.
Jan
15 23c. July 36c.
14 69% Sept 71
Apr
55
16
Sept 60
Sept
Meh
12 101% June 107
Jan 89
Feb
15 81
Mch
14 38
Sept 41
Jan
12 18
Seyt 28
Feb 40
Feb
14 38
14 81
Jul^ 90 Sept
Sept 13 101
Sept 109% Feb
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Outside Market.—The “curb” market opened promisingly
this week; trading was in increased volume and prices im¬
proved in a number of leading
business became less active and
stocks showing fractional losses.
issues. Later, however,
irregular, with prominent
British Columbia Copper
was unusually active and strong, advancing from 4% to 6
and reacting to 534Chino Copper was also a conspicuous
feature, moving up from 15% to 1734> a new high record.
Subsequently it fell to 16%, the close to-day being at 16%.
Giroux rose from 634 to 7%, weakened to 6 9-16 and finished
to-day at 6%. Greene Cananea improved from 6% to 7,
but sold to-day back to 6%.
Miami eased off from 18% to
18%, sold up to 19 and declined to 18%, with the final figure
to-day 18%. Ohio Copper improved from 1% to 1 13-16,
but weakened to 1%.
Kerr Lake went down from 6 11-16
to 6 5-16 and ends the week at 6%. La Rose Consolidated,
after fluctuating between 3 15-16 and 3 13-16, fell to-day to
3%, closing at 3 11-16. Nipissing advanced from 10% to
11%. ! Among the miscellaneous issues American Tobacco
lost 5 points to 395, then ran up to 415.
It dropped to 403
and moved up again, resting at 406 finally.! Interconti¬
nental Rubber was moderately active and irregular, losing
almost 3 points to 29%, with to-day’s business’carrying the
price down to 28%. Standard Oil went down from 600 to
599 and back to 600.
American Writing Paper preferred
fmproved from 25 to 25%. Chicago Subway weakened
from 4% to 4%. Bonds were dull. Western Pacific 5s
gained a point to 94%.
v.
Outside quotations will be found on page 708.
' ’ aL
.
New York Stock
Exchange—Stock Record, Daily, Weekly and Yearly
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
Sept. 10
*27
Monday
Sept. 12
35
72
*68
97
*27
*65
97*4
*99*4 100
*1077s 110
103
103
87% 8712
73% 73%
*187l2 188*4
*62
*260
72
65
300
*287g
*86
73*4
190
7*250
7212
31
*..„.
*27
6512
*22
*46
*
23
47
2212
144
144
210
150
165
*2*4
*7114
*69
161%
*29 "
^*70%
*10*
*19
*25
*42
*31
*123
*5414
*94 "
*94
*105
*1271%
*201
♦133
*140
*2l2
75
100
*9514
*53
144
3%
*68"
55%
131
*16
*29%
*7H2
*28
*62
*15
*37
*64
997s
100
144
210
150
165
98%
*28
*68
97
99*2
100
*86
89
73*4 7478
190*4 19078
*62
72*4
300
74
147
14334 14412
*2*2
3*2
*5
8
*70
75
*9514
♦5212
*95*4
99
53
72
*87
90
74% 75%
188% 189%
*62
♦250
300
74*2
*28*2
65
300
75%
73%
30*4 *27
*_
65*2
23*2
22%
*
23
*46
121
47
*45
122*2
145*4 146*4
145*2 145*2
*201
*133
*140
210
150
165
90
74*4 75%
190*4 1907s
*62
72*4
*250
85
72
119*2
145
*144
*201
♦133
*140
210
150
165
*2*2
3*2
*5
*70
99
Friday
Sept. 16.
46
121
145*4
145
210
150
165
*2%
8
75
99
75*4
30*4
65*2
22%
8
75
100
*98*2
130
' 155"
18*4
49*4
29
63
18
40
131
2414
*38
*12712
145
*87
3058
*61
5212
62%
.
133
o9
r*l23
69
68*2
143
131
24*8
49
130
145
88*2
31*4
61*2
5234
130
6934
31*2
31%
11U2 112
*6Ha 63
110
93
154
147
^100
*28
*65
4014
145
3934
40
96
96*2
*86*2 90
113*4 114*8
*100
106
110
114
128U 128*4
*9212 94*
*86
92
29*2
63*2
65
*55
40
*21
*55
40l4
24
58
1121#
221#
11218
22*4
51*2
53
2534
26
*8
9
9
*61*
88
92
3078
66%
65
40*4
24
68
113
23
30
55
17
*1612
*3514
*4H8
*6714
*412
*26
*54
17
3534
4414
6818
5l2
*9
35
44
*67*4
*4*2
11
7
*6
*48
*9
*6
♦49
5212
*125
63
18
40
69*2
143
133
24*4
47
132
148
89
*86
__
*62
130
68*2 68*2
31*8 32
111*4 11278
*61*8 63
*152
110
93
*15
*35
*131
*23
*40
*132
*23
*40
132
*145
*87
32
63
24*2
47
133
147
89
317b
*61*4
32%
63*2
53%
53*4
*125
*S6%
114
*97
*80
*100
128
*93
*101
90
115%
106
110
114
12934
94
116
139% 142*8
*86
*90
30*2
64
*60
40
*21
58
32*8
66
65
40
24
58
26*2
$9
26%
*22"
74%
30%
65*2
24
*45
46%
119% 11934
*144
144
*201
*133
♦145
*2*2
*70
146
1441o
210
150
160
31o
75
100
*7
812
23*8
49*2 51%
110*2 110*2
163*8 166*8
90
90*2
23*8
*25
29
55*4
1678
3534
*42*2
*67*4
*4*2
10*2
6*2
55*4
17*4
36*2
45
68*2
5*2
10*2
6*2
52*2
*7
*21
52
110
*9
*6
52
88
93
30%
40%
*38%
25
59
*21
65
65
40
25
52
26
52
8%
*7
23*8
51%
26%
8*4
8*2
23%
51*4
*145
iittnas
New York
Aetna
America N_.
Amer Each.
Audubon
tuu
176
.....
575
lUo
..
Boweryfl...
U6
375
|
196
165
Bronx Borol
Bronx Nat
•Bid anu
116
125
140
t
oanks
Chatham
163*4 165%
90
*26
56
57%
90
32
56
16%
37%
3484
45
43%
68% *67%
6*2
*4%
*9
10%
*6
6%
52*2 *49
206
16
145
170
175
05
■;*4
Ask
310
S2J
..
.......
400
«-
--r
445
160
t384
a...
w»-rr
Columbia
40J
Commerce
U99 t200%
Cora Ex
307*? 315
East River, 115
126
.
fidelity H.- 165
AvcTl 400
175
4500
a aou
tSale at Stock 1 ixchange
HUS
Chelsea Exf 200
Chemical
430
Citlsens* Cti 150
City
t380
Coal A Iron 150
Colonic
,0(1
Butch A Dr
Century H.*
Chase, j....
180
600
.'30
Battery Pk
Bryant Pk
As*
148
88%
31
63
50
*123
70
16%
35*4
43%
68%
5%
10
7
54
or at auction this week.
iU54 C..-S iif."'
400
3,570
1,000
150
7,420
1.100
fci
88%
Havana Electric......
1,615 Long Island............
2,000 Louisville A Nashville...
900 V/1 anhattan Elevated
400 Minneapolis A St Lou*s
Do pref...
Minn StPASS Marie...
Do prei
Do leased line ctfs....
Mo Kansas A Texas.....
Do pref.....
Missouri Pacific
ATash Chatt A St Louis.
1* at Rys of Mex 1st pref
Do 2d pref..
N Y Central A Hudson..
N Y Chic A St Louis
Do 1st pref........
Do 2d pref...........
N Y N H A Hartford....
3,130
250
110
3.500
51%
6.500
•
400
63
110
93
156
146
41
97
“2,3(j0
8,700
10.250
Subscription receipts
246
1,700 N Y Ontario A Western.
4.110 Norfolk A Western.....
Do
pacific Coast Co.......
I
94
116
62
*55
.......
Do
88
94
31
63
3834
*7
23%
51*4
23
52
26
9
8*2
23*4
51*4
111
163*8 164%
90
*27
*55
16
90
30
57
35
*9
*6
*49
10
7
52
...
63,900 Southern Pacific Co.
1,600 Southern v tr cfs stmpd.
Do pref
970
do
800 l^exas A Pacific........
1,250 third Avenue (N Y)
Toledo Hallways A Light
1,000 Toledo St L A Western..
Do pref...
2,400
610 Twin City Rapid Transit
280,300
Do pref
1,600
100 unit Rys Inv't of San Fr
.....
Union Pacific
Do
500
16%
34%
44%
*67%
*4%
St L A San Fr, 1st pref..
Do 2d pref
St Louis Southwestern...
Do pref..
200
800
.......
111% 112*2
51%
*25*2
8%
.........
2d
pref
34,900 Rock Island Company
Do pref
5,300
25
59
23
pref.............
Reading..
1st pref
600
65
38%
*21
*57
Do 1st pref........
Do 2d prei....
34,600 Pennsylvania
400 PItt'b Cln Chic A St L-.
140*4 403.450
30%
adjustment pref
26,750 Northern Pacific......
127% 128%
*93
*101
139
*86
*90
prefi:::::::
Do pref..........
25 Hocking valley.....
Do pref
300 Illinois Central........
31
63
70*2
31*2 31%
111
111*4
*61
*100
*80
*150
146
*40
Do ist
Do 2d pref........
pref,
7.810 Great Northern pref.....
Iron Ore properties
4.100
Green Bay A W, deb ctfB
133
♦100
90%
100
......
131% 131%
30%
58% 58*2
112% 113%
*22% 23
17
*67%
*4*2
94
116
100
800
44*2
68*8
5*2
pref.............
Xy abash
2,200
6,800
.........
Do pref.........
600 vVest Maryland Ry...._.
Do pref..
Wheeling A Lake Erie..
100
Do 1st pref..........
Do 2d pref.........
100
300 Wisconsin Central
25
Feb
48i 2 Feb
Lowest
36
Mch
:
124%
104%
137*2
119*8
176 »j Feb
198% May25
94
60*2 J’ly
J’ly
66
Aug
23% J’ly
64% J ne
19
J’lV
Jan
7
70
312
248
Jan
Jan
Jan
06*4 Jan
09 Apr
36% Jan
97% Jan
100% Jan
107*2 Jan
103*2 Feb
Nov
Jan
Mch
00% Jan
Feb
215
55% Jan
57% Feo
Nov
70
91
67
rlG5
»2
J’ly..
113*4 J’ne 30
143
Sep
137% J’ly
203
140
Jan 3
Jan lu
Jan 6
Jan 8
82% Mayiil
JU627
64*8
158%
172%
182%
225
31% Dec
58% Dec
_
Jan lo
Jan
Jan
Jan
6% Mav24
J’ly 25
Sep 14
J’ly id
J’ly 27
70 Aug 1
149% J’ly 26
490 j’ly 26
23% J’ly 26
62% J’ly 26
45 J’ly 11
10 J’ly 1
17 J’ly 26
19% J'ly 26
85
J’ly .7
28% j’ly 27
118
J’ly 26
45
j’ly 6
11 Aug 10
88% Jan 20
94% Jan 25
102 May 6
86 Feb 7
158*2 Mch
173% Feb
Jan
Highest
.
_
J’ly 26
124
14% J’ly 26
41*2 J’ly 26
15
J’neyo
25
J’ly 26
68 Aug 2
28
J’ly 2b
Aug 2
B
J’ne3u
40 Aug 17
60
J’ly 1
131% J’ly 26
..
J’nejo
J’ly 26
47 J’ly 27
114 J’ly 26
144 J’ne 6
86*2 May 5
27 J’ly 26
57 J’ly .6
123
23
...
41
125
60
J’lv 26
J’ly 26
Feb 3
23*2 J’ly 26
105*8 J’ly i.6
65% May 4
$101 J’ly 8
82*4 Apr 28
Jan 15
05% Feb 26
Men 4
Jan 6
Jan 3
Mch 21
62 Jan 8
84 Jan 3
66 Jan 27
18*4 Jan 3
34% Jan 4
185
G20
79% Jan
5b
Jan
14% Nov
.
22% Mch
36% Mch
28*2 Mch
42
Mck 8
14378 Jan 3
80% Jan 4
136%
66*s
13%
18% Mch 23
97% Apr 14
4
124% J’ly 14
101% J nel4
Jan
Jan
3
54% Jan
3
80
Mch
Nov
Feb
Feb
Feb
Feb
137
?eo
51
81
132%
147
35*2
71
73% May 23
May27
109*4 Jan 21
149
*143
Sep
Mch
Jan
Apr
Feb
Feb
Feb
122% Jan
44% Apr
Dec
21
120% Feb
48% Mcb
100
Feb
76% Apr
70% Sep 16
32% Sep 14
Jan 19
Mch 14
Mctall
Jan 6
Jan
65
8
36*2
39
First......
Hut
Ask
300
835
1150
350
14th Stfl...
Fourth
fl87
Gallatin
320
Garfield
290
Germ-Am H 140
Germ’n Ext) 485
Germania \. 550
150
Gotham
Greenwich $) 255
Hanover... 615
Into A Trad '40
865
Banks
Irving N Ex
Jefferson^..
rTr
...
...
Liberty
Llnooin
....
340
300
160
605
565
155
265
625
5*'
Manhattan^
Mark’tAFul
Mech A Mot’s
Mercantile
Merck Excb
.
Merchants'
Metropolis 1!
Metro pol ’nfl
Mt
Morris
Hid
Ask
200
210
175
625
185
400
315
250
436
330
260
240
150
160
175
390
200
260
250
160
170
180
88%
Aui
Deo
Deo
Deo
63% Deo
36
62
82
Apr
Apr
Sop
60%Au«
29i; Aug
647g J’ne
71% Deo
162% Aug
153% Jan
Jan
J an
65
90
149*2 Jan
164% Aug
94
Doc
50% Oot
78% Oct
77% Aug
D«o
142
26%
May
‘Mf
100 Feb
Nov
95
Apr 28 162
f 154 Nov 174*4 J’ne
J nelu 5151
5147% Dec 5149*4 Deo
50
38*2 Aug 2
42% Feb
55% j’ne
88*2 J’ly 26 108% Mch 21
84% Jan
102
Dec
88
Feb 2
91% Mch 16
85*8 Men
92% J ly
111% Aug 3 146% Jan 3
133% Feb 159% Aug
101% Aug 17 118*4 Jan 12
76
Mch 118% Dee
100
Mch $106 Sep
105
Feb 14 118 Jan 8
88
Mch 115 Deo
122*2 J’ly *6 138% M^h V
126*8 Feb
151% Sep
89 J’ly 2b 104%Mch22
86% Jan
997s Deo
114
MchlO 116 Mch 1
104
Feb
116% Sep
130% j’ly 2o 172% Feb 18
118 Feb
173% Sep
*85 Aug 24
89
Mch
93*2 Feb 17
96
Aug
87 J’ly 26 110% Jan 8
90
Feb
117% Deo
22% j’ly 26
57% Jan 3
207g Feb
81 Deo
54 J’ly 27
92% Apr 9
67% Feb
94% Dee
73 Jan 6
58 Aug 11
65% Mch
74 Dee
60 Jan 5
34% Aug 2
Feb
36
60*4 Sep
18% J’ly 26
34% Jan 8
20*2 Feb
35% Dee
61% J’ly
77% Jan 3
Deo
47% Jan
82
103% J’ly 26 *13814 Jan 4
114% Feb
139% Anc
18
j’ly 26
22
Feb
33*4 Jan 3
34
Anc
43
75 Jan 8
J’ly 2b
60 Jan
75% Dee
22*2 J’ly 26
36*4 Jan 8
80 Feb
40% Anc
5% J’ne 1
19% Jan 7
12% Deo
42% Jett
5% J’ly b
16*4 Jan 12
7
May
15% Jan
19
J’ly 26
64*8 Jan 4
43 Feb
547s Oot
42*4 J’ly 28
72% Jan 4
64% Feb
74% Jan
103 j’ly 26 117% Jan 8
97
Jan
116% Dee
152% J’ly 26 20484 Jan 3
172% Feb 219 AuC
88% J’ly 26 103% Jan 7
*94
Mch
23*4 J‘ne30
42% Jan 3
Feb
30
47
J’neao
72% Jan
60% Feb
77
Sep
12% J'ly 2b
27% Jan
16 Feb
277g Dee
61 Jan 6
28% J’ly 26
41 Feb
61% J’ae
40
J’ly 26
54%Mcb 12
67
Aug 15
Tr*»
_
.
23
i tea &BFS
Jan 8
4
44
J‘ne3o
13% Jan
J’ly
5«*«Mcb
6
8
6"jiy
16% J’ly
6% J'ly
‘
35% Jan
Banks
12% Jan
25% Jan
16% J
Ask
Mutual 5... 285
Nassau f... 240
New Neth d 210
NewYorkCo 900
New York. 320
N’ht ADayD 200
19th Ward! 260
Northern
f 100
295
Park
......
f._
410
People’s
260
P»asaH.....
Pbenlx
....
..
....
336
225
260
230
>40
7350
taao
280
200
270
190
626
Banks
Prod Excb %
Reserve
seaboard
■Second
Sherman...
...
220
..
PacincH-...
8
637g A]
*4
Hta
State
D
12th Ward.
23d Ward
Union Exo.
Wash M’tsJ
West Side 1
Yorkvllle f.
....
tG*4® tua® loo snares. 11 State oaues. a Ex-dtvuieua and
ngnes.
n Sold at private sale at this pries,
s 2d paid.
ySd
‘i First installment paid,
J’ne
56*4 Any
46
Aug
COMPANlfc^—sjUOrAXIONS.
Banks
Filth
Jan
“«4%J'ne
077.
19%
Mch 8
4
80 Feb 24
146 Mob 3
155% Mcb 2
92*4 Jan 8
51% Jan 5
74% Jan 6
Feb
71% Aug
21
Jan
Apr
74*4
53*4 Jan
51
90
Feb
37
139
98
Aug
83%
48
6
3
Mcb b
64% Dec
165*8 Sep
lMl
Aug?
198% Aug
21
103
100
26*4
4
128
67
78% Mch
37*8 Dec
Nov
Jan
Jan
Jan
323*? Sep
91% Deo
74% Apr
167% Aug
Mcb
G2*4 Jan
48
70% Apr 14
69
159*4 Jan 5 *121
139
Apr
827g J’ne
189*8 Oct
70% Nov
96
Feb
86*4
Feb 18
3
Jan
26*4 Jan
Oc*
106*4 J M
143*2 Aug
122% J ly
feb
Feb
l!% Mch
44% Jan
71
126%
39
88
187
6
25% Jan 11
0278jan 12
30
Feb
28
34% Jan 6
62*4 Mob 8
147
Jan
37%
.
Jan
Mch
Aug
166*2 J*n $180 J’ly
31 <» Dec
7
Jan
734 Dec
18*4
68
Jan
83% Deo
100 Jan
105 Mch
61
Oct
68*4 J«n
76% Jan
May
86
73% Jan
84% Jan
167*4 Feb 200 May
635
Feb 680 Apr
83
81
99
26
Mcb $230
Apr 167
208
148
12% Jan
92% Mch 18
104
Feb
141
Apr 28 162*2 Feb 23
$160 Apr 25 $170% Feb 18
2*<» May24
5% Jan
70
99
46
70
Mch
20
72*2 Mob 8
B034 J’ly
*97
J’ly
102*2 J’ly
100% Sey
87*4 Sep
68*2 Feb
.
Do pref....
Chic St P Minn A Omaha
Do pref
Chic Un Trac ctfs stmpd
Do pref ctfs stmpd..._
Cleve Cln Chic A St L—.
Do pref.............
Colorado A Southern....
Do I t preferred......
Do 2d preferred......
I Delaware A Hudson...
l'eaware Lack A West.
Denver A Rio Grande...
Do pref.............
Detroit United
Duluth So Shore A Atlan
Do pref.............
.....
47
*97
*80
♦98
9
66*2
142%
133%
24%
90
*61
*55
29
17
36
*43
69
113
108
no
114
v.
Range for Previous
Year (1909)
Highest
40
.
...
111*1
26%
29
*15
*35
*66
*141
133
*23
*40
.
...
♦861*
65
68
110
167
28*2
62%
31,550 Chesapeake A Ohio
100 Chicago A Alton KR_._.
Do pref
2,758 Ohio Gt Wesj trust ctfs.
Do
pref trust ctfs
1,520
22,800 Chicago M'lw A St Paul.
Do pref...
1,200
1,250 Chicago A North Western
.
*97
*80
*99
8*2
23%
52%
165*4
90*2
271
Canada Southern
Central of New Jersey...
20% 62,670 Lnterboro-Metro poll tan
Do pref....
54% 37.500
;
900 fowa Central
16%
Do pref...
29%
1,280
71
350 IZ C Ft S A M tr cfs, pref
600 I*-ansas City Southern..
28*2
Do pref.....
200
62%
18
f ake Erie A Wectern
n
40
Do pref.........
*86*2 90
II284 114%
139*2 141%
23
53
130
19%
50%
16%
29%
96*2
107
110
114
50
....
97%
32%
52*4
26*4
834
41
*86
93
113% 114%
9
146*8
128% 128*4
88
94
23
93
156
*93
*101
141% 143%
*21
*58
112*4 114*4
2278 23*4
*49
94
116
63
110
*100
*80
*150
*143
*40
97
129%
39*4
52%
111% 112*2
107
110
114
65
*60
132
148
89
32
63
*61
*86*2 90
114% 115%
*92*2
30%
47
130
69% 70
32
32%
63
110
93
156
*86
88
93
24%
*125
687b 69*4
31*4 32*8
112*4 113%
*97
*80
*98
129
94
*101
132
50%
130
*61
*100
29
65
18
40
69% *67% 69%
142% 143%
146*4 146*4 *145*8 146%
40% 41
40*4 40*4
97*4 97%
96*2 97*4
26
9
9
11
7
621 o
29
*62%
144
133
*80
51*8
17*8
36*2
44*2
68*8
5l2
$69*2
156*2 *152
52
30
55
*15
*35
147
*87
31*8
6H4
53*2
29
65
18
40
■
67*2
*27
*_
Baltimore
A Ohio......
Do pref
200
18,964 Brooklyn Rapid Trans't.
9,778 / Canadian Pacific
300
73%
20
50% 52%
17
16% 16%
30%
30% 3084
78% *71% 78*4
29
*143
19
24,200 Atch Topeka A Santa Fe
Do pref
1,000
400 Atlantic Coast Line RU..
14,350
90
*250
oA-NkIS A^L) TRUST
v
AnnDo
Arbor
....
pref__
74*8 75*8
188*2 188*2
*98%
54
52%
72*2 *71%
19%
51%
*62%
131%
52
2314
23*8 23*8
49l2
49*2 4978
111
IIII4 frllO 110
165l8 165~8 xl63% 164*2
91
91l2 91% *90
*25
*54
31*4
61*4
52*2
*151*4
9234
2912
63%
*bl2
2314
49i2
*145
*87
*80
88
*8
130*2
*100
7*101 116
138*4 13914 I3884 140*2
*86
*2511
*130
24
*40
93
116
9234
2912
6318
68*2
141*2
155
*98
*80
12818 128%
9278 93
*15
*35
110
96
89
106
110
114
63
187b
50*4
*16*2
30*4
*71%
Lowest
33
72
" 129% 129*4 *129% ISO" *129*
1878
50*2
1678
30
30*4
75*4 75*4
29*2 29*2
*80
§145
130
18*4
49*8
16*4
Range Since January 1.
On basis 0/ 100-share lots
Railroads
3*2
*5
*70
STOCKS
NEW YORK STOCK
EXCHANGE
Shares.
98*2
96% 97%
*99% 100% *99% 100%
109*4 111 *108 111
103% 104% 103% 104
111*2 *111
1137s
103*2 105*2 104% 105*2
*201
*133
*140
334
85
72
*68
27*4
65*2
23*2
40*4 4634
119*2 122*8
29
*82
*16
♦37
68
*8612
11312 11334
22%
*28
65*2 *-_—
23
23*4
17
88
96
*501-
35
72
99
110
72*4
27*4
30*2
78*4
31
62
*39*s
*55
*39
*21
*55
111**
97%
9978
*250
*29i2
*71%
3U8 31U
llll2 111%
♦61i8 63
♦101
65
300
73
31
3012
78i4
49
129
148
5212
♦100
*28
*68
99
4914
2412
*61
*98
*80
191*4
*16
133
$88
30*4
*144*4
Sep(. 15.
*86
17
30
63
18
40
66
*23%
*100
*80
*151
Sept. 14
*75 "
*14U4 142l2 ♦141*4
♦123
*67
Sept. 13
*70
*128
18
18l8
4914
*48*4
*38
*127
*145
Thursday
Sales of
the
Week
53
537b 537b
5378
53*8
52%
72
72
*71
72
*71
*71%
72*2
7112 *68
72
*70
72
71*2 *69
71*2 *69
*69
71%
161% *159
164
165
*160
*162*2 163*2 160 162% 162*4 162*4
*491
*490
520
*490
520
520
♦491
520 *490
520
30
80
30*4 31*2
29*4 2978
2934 30*2
30*2
29% 30
72
71% 71%
*7012 71
7078 71*2
70*4 71
71
71
52
62
52
*-—•
52
*—.
12
*10
13
*10
12
10*2 *10
*10
12
22
23
21*2 21%
$22l8 22*8 *20
*20
23
25%
26
2512 26*8
26*8 26*4
26%
25
25*4 25%
25*8
43%
44
44
43
43*4 43*4
43
4314 43*4
43
43
33% *31
33
*31
33
33
*32*4 3334 *31
*31
34
124
124
1247g 124*8 125*8 125*8 125% 124 124*2 122*4 123%
56*2
56
57
56
56
545s 56*2
54% 56*2
54% 56
*12
13
*m2 13
94% *90
97
97
*-„♦90
97
*94*2 95*2
*90
97
96 *____
96
96
96
*94*2 96
96
125% *105 125*2 *.... 125*2 $125 125 *115 125
125
72
18
*129
89
74
Wednesday
4512 46*4
1185# 120*4
14314 144*2 *144
118~g 119i8
144
144
*201
*133
♦140
72
98*8
97*s
0934 99*4
*108l2 110l2
1033# 10378
$65
72l2
35
Tuesday
PAGES
TWO
0 New
paid.
But
ill
163
m
100
390
«ar
400
185
275
140
165
88
600
‘
”3
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
10
Sept.
Monday
Tues
Sept. 12
Sept.
Wednesday
11
Sales of
(He
Friday
Sept. 16
Thursday
Sept. 15
Sept. 14
[VOL. LXXXXL.
Record—Concluded—Page 2
New York Stock
7001
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
Range for Previous
Range Since January 1
On basis of 100-share
Year (1909
lots
Highest
Lowest
Highest
Lowest
iriuustn iicc
*250
....
*8
9
*30%
63%
*43%
*100%
37%
*250
*8
....
♦30%
63*4
44% *43%
*100%
37
37%
63
....
94
94
*7*4
*66%
8%
68
*7*4
*66%
48
*46%
>
*110% :114*2
*61% 62%
*102
*230
103
250
4%
22%
18%
*11%
66%
*100
*43
*116
*115
4
22
*3Q
104
300
101
• 45
119
120
3634
*31
*84%
67
*103
*200
101
45
*117% 118%
*43
120
13434 134*4 134% 135
*927g 93*2
93%: 93%
*27% 28% *25% 29
*94% 96
*94% 95%
*39
40
39% 39%
26
26
26
27%
57
57%
*5634 58
*131% 134
*8
-
10
*29*8
32%
*103
*3
133
*9
10
327®
106
33
*103
.
*101
*230
3%
22
19%
12%
34
35%
♦103
*434
31%
*72
*5$
*26
*22*4
♦5$%
$141*4
8%
*95%
«111)%
*4%
*1534
*9%
44%
*38%
*80
9914
*88
*73%
*111
*_.__
*15
*80
30%
16
90
90
52
*150
*212
*3
rrr
90
*86
*15
17
94*4
161%
94
67%
*7
*100
*101
*14%
*54
*99
*70
*5%
*15
*87
17
67%
33%
*93%
95
161% *158
*2
21$
*3
5%
*3
*30
31%
31%
*89% 97% *89%
30% 30%
30%
94
94%
93%
57% 57%
56
5%
31%
*66
*54%
106%
2%
*90
26*4
*31%
66*4
33%
*93
*159
3
97%
*87
20%
*70
67
28
107
88
17
66*4
33*4
68
34
52
*102
66%
28
35%
66%
27%
*31%
35%
106% *106
*30*4
*89%
*20%
*105
5%
48%
113%
*4%
31%
85%
31%
67
*101
*200
*101
*43
102
*15
*80
.
27%
*92%
69
31
*105
116
’
27%
90
9
59
104
103
16%
116
27%
*87
*7
55
*100
*101
15
90
9
55
104
103
15
*99
*69
7%
8%
*54
*100
*101
*14
108
71
5%
5%
25
34
*15
34
25
273s
*87
56%
$36%
58
108
72
♦105
27%
*9
0
30
5%
37%
778
6734
95
8
68
46%
47%
941$
57
116
27lj>
90%
8«)
94%
57
*lu5
31%
85%
68%
102
300
102
45
31
*85
119
120
67
102
300
102
45
64
101
*200
*95
116% 117
117
*115
43%
120
*115
135%
30%
1345/fl35%
93%
*66
68
77)
66
46
27%
95%
39
38%
2734 *26%
6634 ♦56
134
10
95
38%
38*4
26%
57%
134
9
*28% 30
32% 33
30
34
*33
100,
39
26
56
*131
9
104% 104% *104% 104%
30
30
*3
*287)
4%
3
129
130%
14
*13%
73%
75%
63
27
30
56
*56
297)
3
129%
14
74
63
26% 26%
*22*4 30
*53% 56
143% 142% 142%
8
8%
8%
98
120
5
97
*11934
*4%
1434
*9%
157)
10%
49
41
84
47
3978
*81
100%
997)
09
*88
76
*73%
114
94%
$94%
2734
55
*105
28%
27%
90
9
59
104
*87
*7
*54
102
102% 102% *100
,
15%
6/%
*51
*99
71
58
108
71%
7%
108
71
*5%
3434
55
116
28
90
9
59
102
54
*105
277)
*85
*7
*54
59
126
*62
*58
*112
64%
60
125
637)
5978
*113
64
61
125
637g
61
♦112
64
61
125
91%
Butterick Go
6,155 t central Leather.......
v>
150
Do prel
28%
$15
57
*51
108
71
♦99
70
7%
*5%
25
*15%
34%
33%
♦107
*67%
1,550 Colorado Fuel A Iron
400 Col A Hock Coal & Iron.
14.100 Consolidated Gas (N Y)_
1,675 Corn Products Refining..
866) Do prel....**......-.
10 Crex Carpet
1,700 Distillers Securities Corp
Federal Mining A Smelt*«;
...
...
57
*....
64%
60
125
2001
2,315
30
4,910
100
1.540
7%
25
35
108
71
58
125
61
64%
59
59
125
....
.
Do
600]
pret...
470 Pressed Steel Car
Do pret
185
....
612 Pull man Company
150 quicksilver Mining
Do prel
100
200
Railway Steel Spring
2,725
1,240
900
Republic Iron &
Do prel
Steel—I
.....
Siosd-Sbelfleld
Do prel. Steel A Ir
...
5,770 dTennesseeCopper Part25
Texas Pacific Land Trust
100
Do pret
100
100 United Dry Goods Cos
Do pret
200
170 U S Cast I Pipe A Foundr
Do pret.....
33
Union Bag A Paper....
Ask
tixa
6 roadway \
Brooklyn l_
Coney isl’d
First .....
HUlaMM..
110
155
290
125
,
..
Nassiu...
245
245
160
:!70
People’s
Prosp'ctPk*t
l-erminai 1!
...
*
"1
290
150
15S
305
180
Central
150
I6J
90
..
Tr.
Columbia
Commercial
Com wealth
..
Empire
Kqutt'ble Tr
...
Irusl Co’s
N Y City
A tor
„_._
_
Bankers' Tr
B'way Tr—
.—
1 rust Go's
YUUy
Carnegie
115
415
Mecbahlos!
Montauk
Ask
;8>
620
145
350
650
Bid
110
990
280
120
150
300
455
Farm Lo AT 1650
^00
Fidelity
Fulton
200
....
25%
J ly 26
j;iy 27
99iJ
22% J
ly 26
Sep 12
J’ly 26
11% J jue30
70% J'ly ^6
65 Apr xU
3
122
25% J’ly
25 J'ly
53 Apr
134
J’ly
$77® S«P
26
14
5
Mavjl
36
Jan lo
124
34
65
Feb .8
Aug
.
ii834J iy e
J’ly 26
861* May 13
46*8 j ly 26
101% j ly 26
15
$i7i5j;iy of
ne 60
8JJiy
2$7j
j ly 26
*90% Sep
27
82% J'ly -6
48l2 J’ly 30
1I4 J’ly
$19% J’ly 26
83
6
55
93
Feb
J’ly
J’ly 15
Aug
99% Aug
14%
*!iy 21
49
Yioo
200
4,900
Kipper
Vlrglma-Ckro'lna Cbem._
117
Wells Fargo A Co_——
152
Vuloan Detinning—
Do prat.......
39
1.700 YY estern Union Teteg—
1,100 vVesttngh'sefcx&Mfg assen
Do 1st pro!—
Jit
120
iOio
180
310
465
1700
210
mmmm
150
47
pret..—
Virginia Iron Coal 61 Coke
Do
53
15
60
Feb
“
J’ly
AP’*
i'eb
Feb
Feb
53
J’ly 26
49% J’ly 26
110
May i
Jan
Feb
02
^an
-—
109*4
*iatt
473.
Jy
Mch
Mch
33% Feb
82% Jan
104 J ne
70 Oan
09% Jan
*j%Jan
HIP* J*n
31
121% Feb
Jaa
8x
71% Feb
102*4 Apr
"So"Feb
72
Jan 17
104
>lny
40% *ug
107% J ne
*o4% Deo
33%
uvu
IU4U
Sep
Sep
Deo
19% Deo
Nov
37
5134
HI
53
i
Oot
Sep
Deo
91 %
Deo
20%
J’ne
65% Jan
03U
68
41%
95* 2
94
J’ne
Deo
Jan
May
Aug
172*4 AUg
Jaa
29% Feb
45% Nov
101% Jan
99%
DOC
40
Apr
Feb
30%
Feb
a
Men
10
96
Feb
169
Jan
1% jan
j&Si
97/51 r CD
16%
67%
03
Feb
Feb
Feb
107% Feb
U§«/D»»
128
V
Deo
Oct
27% Jan
191J Jan
69®4 AUf
54%
91
NOV
Sep
ils% Dee
95% Not
77% Dee
120
130
Sep
Sep
30*4 Dee
99% Sep
94
AUg
113*4 Au*
97%
Not
87*1 J’ne
48*2 Not
Oot
64
120
AUg
Dee
29% Not
87% Dee
66
Aug
11134 AUg
103
200
9%
Aug
J’ly
May
541: Aug
10
109
Aug
49% Sep
110% J’iy
94% Got
120 Sep
$49 Jan
$33% Qct
May 13
80% Feb
937) J \f
914 Feb
13% Jan lo
15% J’ne
73 Jan 17
66
Jan
81% J’ne
122
lift
Get
Jan 3
125% Dee
114
Dee
11378 Jan 4 rl09 Sep
32
Jan 3
34% Feb
35% J ne
84 Jan lo
70 Mch
87*$ AUg
145
Jan 10
82 Feb $111
Deo
87
•4 Feb
Sep
84% Jan 4
11
10
Meh
Jan 14
17% J ne
24
Feb
29% Jan 3
39% Aug
27
Feb
62% Jan 3
57% AUg
98
Jan
HG% Jan 10
123% Aug
84
Jan 3
89% Aug
67% Feb
91
Jan 3
41% Feb
U4% Oct
107 Feb
131 Oot
125% Jan 3
$30% Jan 6
$3918 Feb $67% Not
66% Dee
62% May27
40% Feb
128 Dee
114
Jan
129% Jan 4
73 Jan
67
Feb
fc
757* Sep
6
Feb
$25 Jan 16
37% Not
80
46 Jan
Jan 3
91*4 Not
4195
Jan 4
300
Jaa 1870 Dee
64
Feb
78*2 Mch
85% Not
Feb
90 Aug
74
82% Jan 3,
130 Feb *4
no
Mch 145 Sep
95
QUOTATIONS.
trail Co's
BUt
Ask
N Y Trust.
640
655
170
285
175
180
S95
StanJaW’K
90
400
4j0
K nicker bkr
Law Tl*Tr
incoln Tr.
t25f
anhattan
375
HO
400
700
ercantjle
etrdpol’t’n
740
535
lido"
Men
Apr
Apr
145% Sep
Dec
7%
is**
9%
4578 Jan 3
104% Jan 3
86% Jan 3
118% Feb 1
$40% Jan 3
Ask
m
4 an
131
,
43% Jan
43% Jan
116% Jan
103% Jon
27% Jan
aio
MW
Feb
Jaa
32% Feb
Men
55
Feb
80
i6U% Feb
Jan
Bid
Mutual....
ut AHnce
Y Utt&Tr
47
«5
90% Jan 18
89% Jah 4
110% Jan L
$21% May 16
95% Jan
700
.
Feb
21% Fen
■
iU% Feb
16% Feb
73% Feb
Jan 5
Jan 17
trast Co's
130
$373,
29
Mch 8
Jan o
1607* Jan 6
Guar*ty Tr.
Guardum Tr
Hudson
4an
26%
99%
92% Jan
107
J'h®
Feb
9334
17%
J’ly 25
J’ly 26
84
J’ly
13 J’ly 26
85
Jan
60% J’ly 26
25 J’ly .6
517* Jan
yo
J’ly 27 107% Jan
165 J'ne.s, 200 Jan li
37j Apr 6
2% J’ne n
27* Aug 2
57* May.i
51 <8 Jan
28 J’ly 26
3
30
103
Feb
26h
t May
66% NOV
133% Sep
U5
237® Jan
160% Jan
23% Jan
86% Jan
621* Feb 25
36% Jan lo
84
Feb
H8
J an
28% Jan
92% Aug
105U Nov
Jan il»3_. Aug
Men 1285- Nov
*18% Mch
48% Jan
109% Mch
115
125
122
Aug
liu J’ne
69 ‘ Sep
90%
Mch 7
Jan 3
Jan
Jan
18% Jan
60
109% Feb
125
164% Jan
33
42% Apr
20
J no
4734 J ’ne
69% Aug
Feb
Jan
Fab
116% Nuv
118 Nov
39% Mch 18
$54
Jan
Mch
347* Feb
143% Feb 24
yj% Mch 1
104
Feb
22 >
35
12878 Feb 18
107% Nov
<U0
Dec
10 Sep
617) Aug
18?®
iul
112% Jan o
Apr 27
2:8
101
50 Au|
10$ Aug
49*2 Aug
98 Get
16% Nov
86 ‘ J’ne
76*2 Nov
12434 Aug
79% Nov
34
38
80
60
88
Jne 28
95% J ly 26
64% J’ly 26
J’ne 27
4
13
J’ly
Do pret
27
J’ly -6
United States Rubber...
99
J’ly
Do 1st pret
59 o J’ly 27
Do 2d pret
United States Steel
6i% J’ly 26
110G J’ly 20
rfUtgk
Par $10 t$39% J’ne 30
IS? 8
N
375
Homestead!
Manufac'rs
out
Banks
Brooklyn
J’ne 8
125
Express..
S Realty 6s Improvem't
S Reduction 6s Refining
‘
Banks
Brooklyn
a
28
49
United States
BANKS AND TRUST COMP AN IES—B ANKERS'
,
J’ly 26
J ne j
Aug 10
J*ty26
J’nc-y
21
100
National Biscuit
Do prel
Nat EnameTg A Stamp’g
Do prel
National Lead
Do pret..........
dNev Cons Cop per. Par |5
j.\ew York Air Brake....
North American Co. new
‘2,200i pacific Mall
JL adfio Telep A Teleg—
3.800 People's G L A C (Ohio
Philadelphia Co (Plttsb'h)
’"566 Pittsburgh Coal Co.....
57*4
108
70
64%
kilt
91% J’iy 5
$33%
Jan
Feb
6% J’ly
Nov
Jan
7734 Feb
Mch A
9U78 Jan
104
oaa
12
29
49
stk tr
™
66% 67% 492.200
115% 116% ■8.350
*45
8,650
45%
*122
.........
__
55
116
15
*51
*99
*70
64
60
*112
100]
28% Jne >0
82
J ’ly 23
61% Jly
98<4 J’iy 26
277
Apr 4
9512 Ja>i 13
38 J’ly 26
114G J’uo 6
115 J’ue 6
12634 J’ly 26
90-2 J’ly 26
251* J’ly 5
9s
kj05
6% Feb
....
*100
75
63%
.....
Int
90
9
59
104
105
•100
20% Jan
82
Jan
7% Feb
71% Feb
44% Feb
107*2 Feb
42% Jan
Do prel
6
26
1,403 General Electric
8 $8% Sep 13
15,465] d Goldfield Con M.Par §10
*831* Feb 8 125% jau to
97
4,725
Harvester
etta
Do
*117 Aug 11 129 Jan 4
prel &tk tr ctfs
120
25 Lnt Mer Marine stk tr etts
5
4U J’ly 35
7% Jan a
Do
prel...........
12% J'ly 26) 24% Jan 0
2.000
15%
16 Jan 3
9
J'ly
825 international Paper.....
10%
Do prel
48
872
411) J’ly 26
ui%Jan 3
64% Jan /
36% J’ly 26
1,000 Internet Steam PUmp...
397)
Do
600
pret—.......—
83
78l2 J;ly 26
90% Jan L
Laclede
Gas
(St
com..
L)
93% J'ly 29 116% Jan lo
1,900
997)
300 Mackey Companies
79 J iy 20
90
91% Jan 6
Do pret...
7i J’ly 27
107
75
78% Jan lo
*158“ 167" $160* led" *158_ 165" ♦158- 165" *158* 165" *158’ 165"
*62
*57
*113
2,200 jAnaoondaOopper Par$25
2,400 IJothJehem Steel
Do ptet...
1,100 M
300 Brooklyn Union Gas....
297 BrunswickTerm 6s rty Sec
120
103
*5%
*15%
34%
341)
445 American Tobac (new) ,pr
900 American Woolen*....
Do prel
1,000
...........
1,100
94% *91%
...
1,500 American Sugar Refining
Do prel
“4'666 American Teieph A Teleg
*112
*14%
7^2
100
121% $120
16
25
*15
25
16
300
58.370
500
117
120
95u oan
..
48
67*5 Nov
96% Nov
66
.
101%
43%
Feb
Feb
33% Jan
38
v
Do prel
Amer Smelters Sec prel B
Amer Smeit.ngA Reflnlnz
Do prel
American Snutf.
Do prel
—
Amer Steel Found (new).
Nov
16% Aus
250
12% Feb
..
■"§20
Jaa
190
235 tX ULs-Chalmerj
600
Do pret-s**.*^.
300
102
957)
60
134
*28%
65%
2734
95%
27%
27%
134
5%
307)
85%
134% 135
93
$93
94
28
*92
28%
9534
34%
108
108
*107
*105% 107
106% 107 *106
71
*67% 71
*65% 75% *66
*67% 71
68% 70%
677* 69%
68% 69
683s
671) 6834
IK
116% 116 116%
116% 116% 116% 116% 116%
47
*46
46%
46%
46% 46%
46% 47
4534 46%
69
59
58
58
687«
58
57
58
59
58%
126
*122
126
*121
122 *121
*122
126
*121
126
61
*—
61
*._._
61
61
*—
61
*___-_
*——
*33% 34
*105% 107
*8434
85%
102
*200
*101
*43
-
*434
31
64%
57
116
*87
*7
*54
*100
15%
*15
34
45%
36%
95
<
104
71%
*514
77)
X66
T
113
120
*15
16
16
*16
1ft
15
10
*80
90
90
*80
90
*80
90
52
52%
51
50
50%
51%
52%
*102% 104
104
*102
104
*102% 104
20% 20%
20
20% 201$ *20
20%
73
73
78
*70
75
*70
75
65%
67%
637*
67*4
z63%
64% 647)
28% 28%
28
27% 28%
275) 27%
35
*31% 35
35% *33
*31% 35
107
1063g 100% 10/ % *106% 107% *106
89
*»/
89
*87
*87
90
89
17
17
17
*16% 17% *16% 17%
68
681)
67% 67% *6634 67%
67%
34% 34%
34
34
*33% 34
3378
*94
95
95
$93% 947)
9384 93*4
161% 101% 161<>4 *160 162 *159 162
3
:
*2
3
3
3
*2%
*2
*3
5%
*3
3
3
5%
5%
32
*31%
f-t
CO
c*° 31%
31%
3084 30*4
99
*89%
00
99
*80%
97%
*89%
31%
30
30% 30*4
30%
31% *31
103
$58
44%
*43%
*101
36
*90
5%
*434
♦28% 30
34% 34%
34%
106
*104% 106
30
80%
3034
*3
5%
3%
130% 131%
131
59
*99
36
63%
62
44%
*92
8%
113
*111
*110% 113
62% 63 i
62% 62%
6I84 62%
103
*101
103
103
*101
103
*101
250
*230
250
250
*230
250
*225
4
4
4%
3%
4%
*334
4%
19
21%
223®
20% 20%
19% 20
19
197)
10«4 *18
18% 18% *18
13
11
*11
11
11
11%
13%
32
30
33
82
32
*30
35%
36
36
36
36
36
36% 36%
106
106
106
106
*104% 106% $106
10'4
*104
30
3734
8%
48
113
300
9
16%
*15
*80
51
27%
*81%
*33
*43
♦101
37
.
.
78
67
*06
45
62%
96
68%
68%
4
*70
*85
*16
6434
Miscellaneous
Express—
1249 J’ne^ $270 Jan 5
15
Jan 3
7% J’ly 27
27 Aug 5
64% Jan 6
61,520 Amalgamated Copper
90% Jan 3
551* J'ly 13
49
Jan lo
1.900 Amer Agricultural Chem.
35 J’ly 26
Do pret
103
Jan 10
9tfL Apr
‘8*460 American Beet Sugar..
Jan 10
47%
24
J'ly 26
100
Do p*et—
89
J'ly 27
95% J’ne 15
710 American Can
>3% Jan 3
67* J ne j<j
1.400 l Do prel
62
J’ly 26
81% Jan 6
1,710 American Oar A Foundry
727« Jan 3
$gt2 J'ly 26
300
Do pret.—.
109
JneaO 120 Mch i
2,050 American Cotton Oil
621* J’ly 26
69% Mch
Do prel_._
101
Feb 1 106 Apr lAmerican Express...... 5235 Auk 3 ^20 Jan 1
500 American Hide & Leather
8% Jan 5
3% Sep 13
Do prel
3,500
19
Sep 8
47% oan o
1,000 American Ice Securities..
loio J’ly 26
29% Mch *
10% J ’ly 27
1,700| American Linseed
17%oan v.
Do prel..
2,100
25% J'neso
467* Jan ^
700 American Locomotive.
29
j'ly 26
62% Jan j
110
Do prel,
102% Aug 6 115 Jan 7
American Malt Corp_...
8
Feb
4% J iy .6
A dams
*250
*8
*29
9
30
64
,
3
3
3%
129%
129% 130% 129%
14
14
14
14%
14% *13% 14
13%
V6
♦75
75
76
74% 74%
74%
63
*66
*56
63
*56
63
$52
52
27% 28
*26
28
28
26% 26%
26%
*22% 35
40
*22*4 32
*22*4 25
*22%
67
*66
*54
*55
59
*53% 56
67
141*4 141% 141% 142% 144% 144 144% 143%
8%
8%
8%
8%
8%
8%
8%
97% 98%
97
96% 97%
95% 96%
96
110 *119*4 120 *119% 120 *119% 120 *1193i
5
*4%
5
*4%
*4%
6
*4%
4%
*15% 16
16
1534 !0 i *15% 16
157)
10
10
10
10%
*9%
*9%
101»
!0%
46% 461) *45
*45
48
46
46
45
41
*40
40
39% 40%
40% 40% *40
827) 83% *82
82
*80
• 81%
81% 82%
100%
100%
100
99% 99%
99%
99% 100%
awi2 90
92
*88
92
*88
89% *88
73% 73% *73%
75% *73% 75% *73% 75%
114
114% ♦111
♦111
114
114
113
114
121% *120
120
120 *120
130 *._— 121
.
51% 51%
*102% 104 $104
104
20% 20%
20% 203*
*106
*88
37%
*92
8
85
85
67
*103
*200
*95
*43
129*4 129*4
*13%
CO *
96
45
117%
117% 119
♦115
120 *115
134% 135% 135%
$93%
93% 94
28%
28% 2834
9534
95% 95%
39
3934 40
27%
27% 281s
57
57*4
56%
134
♦133% 136
106
30%
29*4
64%
44%
67%
4634
29% *28%
33%
33%
29%
30
20*4
133
*31
8%
67%
4734
♦113
114%
62% 62%
104
300
101
*115
8%
*7%
5*4
32*4
85
67%
*4*4
8%
30%
64%
44%
♦250
*8
8%
36
30
*101
*90
87
105
*35
105
66*4
44
*101
22%
18%
12%
35
18%
12%
8%
32*4
84*4
84*4
*200
.62.
103
250
4
106
*4*4 ;
*103
$62
*230
37
*31
48
*102
36
*35%
8%
68
*250
"vMegsae
$8%
30%
63%
37%
: 04
113
113
4%
227g
18%
12%
*29
*103,
33
64%
44%
33
*90
48
*250
9
+
mm
132%
It 20
IttleGuA Tr
Tr Co otAm
105
485
495
320
1300
1350
460
470
unit Stated. 1190 1210
Van Ndrden
230
vV ash lag ton 375
Westchester 150
m
Windsor .. 120
mm mm
Co’s
Brooklyn
trust
But
HI
405
BOO
Franklin...
lJisFl* Tr
210
270
103
500
295
Nassau..).
People's
300
Hamilton
Home
.
—...
..
3332* os:
165
115
ms
Hi
,
,,
,
d gsked pricey: ho sai« on thdi day. 4 Leas than 100 shares. ^ Ex-rlghts. b New stock e Ex-dlv and right*. A Now quoted doUen pec share.
Stoc| Exchange or at auction this week. * fit- stock diridend % Banks marked with a paragraph fl|) are 3tate banka.
^4
■
w
New York Stock
I
Exchange—Bond Record, Friday, Weekly and Yearly
X 190», ike &ee hangs method 9t quoting bonds wcu changed, and prists art no* <$l!r~“&nd interest"—sioepl for income and defaulted bonds.
*
BONDS
N. Y. STOCK EXCHANGE
Wkkk BKIMlHi 8BPT tfl
t. a. u*mn#eiM
B 2s consol registered.dlOSO
S 2s oensoi oonpoa
319S0
8 5s registered
*1*1#
8 3s oonpon
*1918
8 3s eon smell hoods—#1916
8 4s registered
.....1926
8 4s coupon..
.....1926
U 8 Pan Can 10-30 yr «*.*19S6
Week't
Mange or
Last Hale
Fries
FruCav
JSItpt 16
Ma
,
Ask Love
100*101*
100*101*
101% 102%
101\ 102 H
U
(7
U
tJ
U
U
0
Htnoe
1
January
High
Mak
l«i Aug’10
doo* ioI*|
l#t% J’ne’iO .^.10O* 11K'*
lot* J’ne’10
101* 102*
101H J’ne’10
ioih
lUlt 116 H 114 St
116
116H116H
100\101V| 100*
101*102
J’ly’io ....H102H1O2HJ
Ang’lO
114* 116V
Sep '10
114* 116*
Aug’10
100* 100*
Foreign Ws*cniinenl
Imperial Japanese u overtun i
sterling man 4 *8
1926 FA
2 ci senes 4 He
i»*25 J J
Stoning loan 4s
1931 J J
Oepubol (mbs 5s exten debt.. MS
San Panto (Brazil; trust 6a 1919 4 J
11 Hoi Mexico a U M ol 1899
Gold 4s el 1904— .*»..... 1964
.......1 17. JiN
6*% Corporate Stock ..1957 M-N
4 *% assessmt bon* u.... 1917 88-E
73* N
Corporate toiocK....196'*
4% C<
N Y state—Canal inapt 4s. I960 J-J
do Carolina a -*a du-%y_„...l93.>
t'enn new settlement 3s.. 1913
......104
95 H 9tK
_
J
•
94*
94*
93*
93*
89*
19
8
4
10
10
6
l
102*
97
97
94*
it3*J*iyio
96* Sep '10
90*3an *10
88
*
Virginia tuna aeoi 2-3s...l99r J
97
46 H Sals
6s deterred Brown Bros otts
95*
97
94*
93*
98*
isoania Cent
nee tso
101* 104
11195
96*
97*
9b*
91* 97*
90* 90*
29
66
40
By
/3dai>a Mien nee At Coast June
Alban/dksuso nee u nlAnuu
Ailogueny Valley net Penn Kit
g
A-O
5ov
4s.—/tlbbb
Ai 99u .Nov
Stain pen.............. a 1995 M-N
Coot 4s issue el 1909... 1956 J-B
UOUV g 4s
ii»06 e-U
Cony 4s (fall pd recta).. »96u 3-D
lul? 4 it
10-yeat conv g om
Deoeulures 4s
F-A
MS
J-J
n-s
ttlUantic
Knox
dk N nee i. 48.A1962
6a N
Mid ist
MS
Coast ist g
.
gu
M-N
gold 6s ..1928
Bruns «te vs 1st gu g 4s.. 193b
Charles dfc Say 1st g 7s..1936
L sc N con g 4s...
ol963
Bay tf A W 1st gold 6*..r934
1st gold 6s
1934
SUspooadfeG gug 4s ..leltt
Atlantic dfc Bauv nee aouUi By
Anson46 W sossouPacinc
Trail dk Ohio prior i g 3 *s.i925
D Begiatereu..........,*1925
Bold 4s
..A1940
Begistered
41946
Pitts J
3-3
3-3
M-N
A-O
A-O
3
3
It
*-J
1st gotd 6s... 1922 3-9
PJlindfc M ClV 1stg3Hal92b M-N
PLE4 MV VaBysrel 4si94l M-N
Southw uxv ist g 3Ha... 1926 3-3
Begiatereu ...........41926
2:
Oen Ohio B 1st eg4Ha.. 1930
Ci Bor A W oon 1st g 6s 1933 A-O
6s..1919
F-A
Ohi* Elver BE 1st g 6a.l936
General gold 6s
1937
Pitts Ciey <a Toi lstg 6s 1922
Pitta A West 1st g 4S...1917
Stat isl By ist gug4*s 1943
J-B
A-O
Modou ttiv 1st gu g
A-O
3-3
J-D
1 t A h
nee Illinois Cent
Bklyu A Montana nee cong 1
Brunsdfc West nee AtlCoast L
Budaio 6 1 A kuna Ado sne
BuCaio HAP gen g 6S...1937
Consol 4 Hs
1957
Ail A West lstg 4s gu..t998
01A Man ist gu g 6s—1943
Becb A Pius 1st g 6s...1921
Consol ist g 6s...,
,1922
Bah A Busq 1st ret g 4a.eU961
Bur C B AN nee C B 1 <fe P
So 1st ext 6s
/ tan
t
..1913
98*
99
60
91
90*
»•••••
91 h
ib*6*
......
10s
94*4
92
It 8
p/* J’ne’lO
92 H
Sale
U3HA9»’lo
*26
108
yaT. Jan \o
ygs, reb’lO
91
Apr’lu
92 * ,, 93
23
io9
....
99
94*
9g4i J
....
10 7 *»
96
.....
92*
92* Bale
98
88
92
89
100
98
lu4 *
96
92
94*
113*117
100
122*
U/4* 122 %
96* 95*
95* 9o %
97
97*
92
94*
107*109*
19
92
96*
Sep'oy
109
92 H
119*8
88*
97*101
31
109V l07HJ’ly 10
93*
74
139
sal** 106
iy6
102 H 100* Aeg’iu
128
ne’09
92
92-4
127
J’ue’cu
Mar* 10
112
96
83
96
89
99*
97*
92*
90
GO*- '09
98*
9b
*v
112
112
96
3*1/'10
92*
91*4
*
96**8 *99*
......
3an’lu
91*
92
90*
*
94 H Bale
lUi>
*0
99*
111*8
87*
91
9uH sale
90*8
le
97* loo *
96* J’lj’iO
120
Oct ’el
•*
*7* Aug’lo
87*
69*
9U
9u *
69
89
91
L»0
93
89*
MarlO
Aug'10
106* 9 eu'u<
102 *4
112
Bec’oy
110* na Aov’u9
109*
ll9* Mai*04
98 * Sep *U9
100
Nov’04
......
99
96
90*
gyiaApr'iu
y» *4
lu»H 112
I01H
M-6
107
M-N
105
A-O
3-3
F-A
J O
3-3
3-3
1913 M-8
Registered.
M-S
m3
Oarb A ShaWn nee iU cent
Carolina cent see beau Air L
Carthage A Ad nee N 1 0 dfc H
Ceu K la i A *N nee BCKA5
Oen Branch By nee Mo Pae
Cent ol Ga BB 1st g oa..pl946 F-A
Consol
1
)U3
UU
103
iiO
90*
io3
il3*
gold 6s...........1946
Begistered
1st prei income g
Stamped
M-N
M-N
1946
6s....pl946
cot
»••••!
•*>**
2u prex income g
6s..,.pl946 oct
2d pi el lnoome g 6s stamped
3a prei income g
6*—j»i94o Oct
3d prei income g 6s stamped.
107
106
96*...... 06
108
103
114* 116
U5
116*
_li6*
118*116*
Aug’10
114
109 *
99*
116~ 117**
116*110*
1^6*
Mario
.1 72
72
72
102*108*104
104
106*101* 100* Aug 1C
102*105*
loo* 101*
100* May 0?
Potts Creek Br 1st 4s.. 1946
tf a A tnv 1st eon g 4S..1989
2U COilSdl g 4S
1969
Warm spr Vai 1st g 6a..l94i
Greenbrier By 1st gug 4s '40
C1UC M Alt BB rei g 36...1949
Hat lie ay ist ueu 3*s...i9bO
Kegistereu.............19on
Clue mm A h—i>env c 4s 1922
iiUnoia iny 3*s.........1949
1949
Begistered....
BUS Div 46
1949
Souuiwestern iiiv4e...,i92i
Joint oonds nee Great Norm
Beoenture os............ 1913
General 4s
1936
Ban a at JosoouaOi6e..x9li
ciuc«a Blureidkimpg 4sib66
1st consol g 6s
1934
General oonaoi rat 5s.... 193 i
......
......
88
bd
108
....
......
......
87* sale
8/ *
86
85
......
90
90
....
75
80
84
Aug 10
56
83*
....
86
76
80
| 23
I 10
84
84
Begiatereu.....
Street
Hallway
#^8—1945
1st refund oonv g 4*...,2002
MWy IbtcansVuitCmi
Bk * co A ft eon gu g Is. 1941
Bkiyn Up Kflst g 4-6s.I9601
4-5s....l9(5U F
stawpeij giu?
4--IliS?
stamped gaay 4*s
,.,Y
DSt United 1st cen n 4 *al
l*
102* Sals
102*
82* salt.
83* 163
loi* 101* J'lyMo -t- 101*104
99* Mar’09
10J* 101
lOO* 10<K lOfi 90 10e
2
4iO0*
100* loo*
09*103
64
8#
t
"bd*
n*‘ n;u
.
78*
P4*
80
.
94
7**
J'ly'll
Apr’li
Bi
,
U71I
1
,B3
Z^k
?| 8S.J
1OQ
d Due Apr
«
91
ill*
*86*
91
70
72
69
70
83
99*
99*
*96*" -11-
A-O
M-N
io*9*4 111-1
Begistered
107
J -3
91 ”
*97*;
*luo*
98* 99*
W-J
86*
I06* tools
10a*
......
103*4
,
Ho* U3
96* 99*
m
110
109
i» <
....—
114*
io7 *
111 *
114
116*
—
General gold 4a
Bogtatered.............1917 J-J
1968 3 - J
Begiatereu.
.......1968 J-J
97
Eelunuing
8W*ama
r
g 4s
1934 A-O
Cou trust senes B 4s ..1910 M-N
J As....
1912|M-N
M »S—.—.............1916 M-N
N 4s
.—........1916,M-N
O 4s....
112
111
toals
......
96
M N
BUT C B dfc N— lstg 6a. 1954 A-O
Begistered...........1934 A-O
CB1F dfc A W 1st gu 60.1921 A-O
M dfc tot B 1st gu g 7S..19J7 J-O
Ohoc Ok de G geu
gen g os
6s .0
.01919 J-J
Consrn gold 6s
1962 M-N
«k
thee
Keuk
11 i«t<M
1923 A-O
A-O
9ta, Ay ist gu g 6s,1993
***** 1993
B-S
Jd-S
1O0*
100*102*
2i
97
100
lOO* 102
81
86*
i2i
127
108* 113
i||ia4»si2&*
rod* ibd*
t>3 *
y4
103
9o*
103* Oct 06
103 *
98
100*
99
10
86* 89
9i* 93*
io7* 108
LOi
UO*
32 lu6* 108*
102* I08*
1*6* Ho*
1041,106
loo
100*
Sams'lO
x\w» ow
,06*
loo 4
96* 96*
87
89*
lid* iVl*
.Jlyio"’’
l***
1*4* J'ly *to
112-kSiario
Feb'10
90
93 *
aug*o9
72*
7
105
lu«
io5
109 -a
106
107
ro6* 106*
199
111*
109
J’iy *06
142*9 46*02
123* Apr *09
103May*09
lob* Aug 10
109
Aug* 19
96*
u7
100*
961, lul
Ao
Mar lo!
iba"
,08*105*
110*113
Aug’10
UO*Mai’#3
.106 Apr’10
198
100
lo7*
104
104
110*108
Oe* 101
(104
May'lo
Mar* 10
Feb *io
121* 127* 124* J’ly*10
86
——
74%
KtiTSSK
J-D
S5
pent Tr Oo oertfs stmpd...
Third Are
By let«
6«3b87 j‘-J
pri Ky A Lt gea 4 *8 ..198-;
10#% 107
J-J
By U H dk P lstg 6s *3, M-N
H Paul City Cab oen g 6s. 1987 J-J
rn-<htr By dk r)t latg f 6s4»J3 A-O
uder*round ol Lqu #s...i9f
M-N
3-J
X
M
fhtrd Awe B E oon gu 4s 2000 3-3
93
114*
1*17*
11** 112*
",
109*114
.””1 io9 lob
95
94* 99
9b*
las
86
93*
92
SlS*97*
94ii 94*
*94* “94*
.
...* ibo" ibe*
..I.(il04
108
..IJ
....
104
110
103*104
123
127*
Bee *03
«-
88*
••••
*
»
m
NDae uly
fcDne
Aug
70
46
loO
96
97
60*
aayia
108
Of
—lug
88**aE
87
89
oDae Oct
75
46
JTy
3’ly'lu
Sep ’lu
J’ly *10
Apr 10
eO*
69%
AO
id
A-O
Due me
iod*
Next Page.
4s...2002
Sway A Tth Avlstcg 5s 1943
p
98*
4*632, 66* 83*
76* May'lo ...J 76* 30*
114* 113 *a Mai'ioi.... A15*ll4*
109
vine tot a. dfc N o
s«« in Cent
Clue St bdk Pitts sskPennco
'
>nio st P M dk u eon 6s
1930 3 -D,
Ceils 6s reduced to 3*^8.1030 3-B
89*
J ne'lo
98-4
89
73* sale
86*
97**99"
Apr io
97
J’iy ’04
97 * J’iy *10
94 v>»au *10
94
Beo *09
94* May'lo
4s..2002!M-N
77
76
95* 100
124*
109
109
......
93
98
BOc'drf
J’ue 10
113
ii.0
loo
109
ou
114
loo
94
103
......
..—
99
90*
MaPloj’.” iitf’* 11a"
112
io7 May io
I06* eeo’io
incomes ................ 191.1 ;M-N
Ohio Boca Isi dfc Pac 6a...1917 J •3
2002
10
97* May’iO
Uoc
......
94*
101 * Aiai 'JD
*......! 106
A-O
M-N
Begistered
..1933 M-N
Mil Bbdfc West isl g 6s 1921 M-S
Ext A
imp Sluud g 6s 1929 F -A
Ashland Biv 1st g 6s..1926 M-S
Mich Biv 1st g 6s
1924 J - 3
dfc Pae BB
99*
J'ueio
9o*u xs ’10
6to*
05*
93* -4jpi '09
107 *
1U4
98* 100
91*
99*
——.Jll l* AuV’09
A-O
A-O
69
3’Iy’lo
Sep ’lo
.—.jllO-^May
lbo*
oa...i6<9-1929,A-O 105
86*
70
LOO
88* sale
95*
87
83
(04
68*
111
54
89
69
Oct '09
los* Aug io
10O“t, May'lo
103* Aug lo
......
101* V01V
69
76
99
88
loo
100
iu6*
114*
87* 91*.
lOd*. J’lyio
116* May'lo
104* Aug iv,
116
106*
112*112
99
103*.
09
92*4
>;2*
loi* Mar io
107
J ne'lo
106*
loo*
102*
88
87*Sep in
71* Aug 10
87* Aug
87*
92
94
lob *
106=5 108
3 -J
Sinking lunu 0a...i8iy-1929!A-O
Begiatereu.
io7 9-1929 A-O
iunu
—....
101
J -J
.piObii
Vo
Aug'10
5an
124*126* 124*
-e
Begistered
1666-1926,F-A
General goAa5*a........l06?!M-N
i‘08
......
3-3
J
1 UO*
Apr'10
#6*5 ue’iU
100* 102* LOI* 101*
97* sate
97*
97*
loo*
loo*J’ly 10
83
86 *v 52
Aug’ i
12o* 127* 121 9 iy iu
108*
!10s*9 ly *iu
M-8
Clue «a Bo Biy Biv os...1926 J -3
Clue A P W lstg 6s
19zi 3-3
link dfc Gt too g os
1916 3 - J
sai <a Sou assu g 6s..... 1924 J-J
idleruesedk i> let os....i9l9 J-J
Mineral Pointi>iyos....l9lU J-3
bo Alum Uiv ist os
1910 J - J
Wisds sunn Biv gos....l92l J-J
Mil dfc No 1st M I. OS....1910 3 -B
isl cousoi 6s
1913 3 -B
Chic dfc A or tow oona 7s....i9ib! W-F
axtensiou 4s
1686-1926 F-A
N
9t J os
100*
100*101*
10 102
104
10O* Oct ’09
98* lOi * 98 *v Aug 10
95* 99* 98* Aug 10
M-N
M-8
J-J
J -3
,
Dae May
104
94* Aug 10
90 *j ne'iOj....
113* }-»'o,06
97
88
M-8
Begiatereu
„..ei9o9
Generalg 3-asaeries B.el969
25-yr deoon 4s
l»34
uuicdk I, ou i>iy g 5a....i92l
May’Oc
IIFlat aDneJan
104
111*
104
90
98*
3 -3
3- J
3-3
3-3
67* 6. V
88
87
87
1947 3-3
Bef g
u5l* 10* V
lul* Aug 1'
MWj 100
J .J
105
90
Street Kailway
Met £* By gea oqltr g 6a.l997 F-A
86*
;
80
U
ii&Ji
7-6* Sail
,Si-
Manila Elec 1st A eolf6s
87*
102
51
94
86
89
89
M- 8
M-N
A-O
J -3
3 .3
F-A
J-3
BOUiST A A deCh ist 6a.loio
Chic Ind <& sou 50-yr 4s..1956
Ciucxiu da 01. P teiai
g pa XOX4
General g 4s series A..«l9e9
cm dk
too
100* J’ly’lO
113* 112* Jan'lv/
101*
loi* sale loo*
101* J’ne’lb
112
91*
91* pout
.....193/ M-N
3-3
Beionuing gold os..
illlSUELLANKOllS BONDS—Continued
ibo* ioi*
87* Sep *10
---ibe
:.,A817|M-K
112*118*
112* J’ne'10.,
106* 106 -el
1! 103* 109
113
Apr *06
88
86
67* 30 82
88
84
87 Aug’lo
82
87*
87*373
110
103
Sep ’10
100 * J’iy'lV*
100 May’10
111*
J-3
J -3
Clue d* inuc Ky istos.i93b
nee Brie
Clue in dfe uounsv Cox 6a...1947
Begistered......
106*109
laa ’l
Chicago A itrie
chic B 1
109
......
87* 89
.......
J iy U8
J’ue 10
11#
1M
128
9«*
10b*
A Clue gold 6e
a!9il A-O
GentundingA unpt6s.l929 3-3
1st oonnoi g oe...........1939 m-N
Begisterea
..1939 M-N
General gold 4 *s.
1992 M-8
Begistereu
1992 M-8
Conv article 4 *s (wh is).1930 f - a
aut sauuy ist 4*
...1944 J-D
coal Biv By 1st «,u 4s ..i94o j-i»
craig Vaiiey xetg 6*...,1940 J.J
9-1929
....Ib21
Begistered.....
.1921
Sinking iunu uso 5s
1933
106
96
•TT
nee so Paoinc Co
Cent Pacino
Begisiei eu
3 iy 10
■High
M«4 * J]nett8
116 Nov*06
ioe"
*
109
lie dfc nod M gen gu g
3-3
Belt A Wilks B Coal 5s.. 1912 M-Ni
BeOentuie ba...
118* 116*^*10
Hines
January l
.28
ISO
122*
125*
121* 122* 120* Aug 16
|lSe* 126
109* 109 Aug’10 --RIO?
1U9
ti
6s 1920
Sinning
Mango
or
AefdLow
JHpA
94
' *8ep
‘
'tf©
l«l
Neurasxa i^xteusiou 4«.192< M-N
Begisiereu...^........1921 M-N
nee n
V;2d 6s
„
76
.....
3-3
unc
Beech Creek
Belter A Car
76
Series J.li> 12 f
Series a.......
1913
East OJtia Biv 1st g 4s..1928
Short Bine 1st 4s g
196e
Hie Pres A Pii 1st g 6s. 1942
Ala
79
98»«8ale
97
77
Begiswsred..,............1996
Registered
10?
Cen MA BolGa col g 6a 1967fM-g
Cent 01 Ji 3 gm*i gold 6s. 1987
&inkingiunu4a........i9iP A-O
nee Buu it dfc t
g 4s
/tiuub
Atoll i A to re—Gen g 4s. 199o
.
100*
iowa Giv eink iund os..idle A-O
AUeg dfc V\ eat
Ann Arbor 1st
Adjustment
JBtk
88
101
19*# 3-3
Mobile Mr lstg6«
Week’s
Mange
Last hale
cnee
lUuirusi.
a
Chad liiv pur inon g 4s. 19b 1 3-D
Mae A Bor tnv 1st g 6s.1940 j.y
Mid Ga A Atl Biy 6S....1947 3-3
95* Cent Vermont 1st gu $ 4A.61920 Q-F
86* 92* ChaB&oay nee Atl Coast Lone
103* 103*
94* 96
A6
46
Fries
fnaav
Sept 16
1
4*s....yi9lo
N Y A Bong Br gen g4s 1941
pr ice* on the: b asu of $5 to £.
are
o
s
Con ext guar
1007* Sale 100* 100* l4o 100 101*
99
72
9ba« salt
98*
96
100*
98 H 9»H 98*
98* 10 96* lOO*
1067s bait. 106* 10u * 96 105*109*
102 *
l 102* 103 *
10*Hl«»H 102*
106^ stue 106*
106* 51 105* 110
102MU3H 102 * Aug 10
102* 103*
98*« sale
98*
1^6*
96 v iOU-.
lug H sale 10^* *03* 3b 101 * 103*
Al-N
1967
90*
19
88H 90
89*
101H 102H 102
97
97 H 97
97
Sale
97
94H *a«»>
94*
M-N
M-N
4% Corporate Stock
i.'69
4% Corporate ©took ....1968
New 4*a
New 4 He
94 H Salt
93 H 94
U
ir /use
Stats and tlty Securities
N Y Oity-4*s —
I960
97
96H
U-8 1
Argentine—Internal 5s ol 1909
»
—^
.
.......—
NS
BONDS
N. Y. STOCK EXCHANGE
Week emdinh Sept 16
Mange
6 9%
i06* Aug* in
87
mu,’1C
u#
Ney*0b
82*
64
*8* 102
96
102
96* 99
6
10
00 *
66
69* j
68%
166*10#*
87
87
*07%l>eo,u9
9#
99
97 J’nk’10
98
Apr’ue
8#
89
97 82
88*
87*
38V 33U #1* 40
34
Oe* ’Oto
?3
Aug' 16 ...ij 73* 83
66
74
Aug’lO
p
Dae Nov
i
j
•
••■W
«OpttonM#.j
702
New York Bond
•w.
BONDS
Brice
6
N. T. STOCK EXCHANGE
Wrrk Ending Sept 10
Weekfe '
Range or
Loot Sale
Frida*
Brpt 16
Bui
Range
llj
Since
Jannarv l
High No Low Nigh
123
127
J'ly’10
Aek Low
Ohio St P M A O —(Von)
123
Oh St P A Minn istg 0s 1918 M-N 122
120% May’00
Nor Wisconsin 1st 8s... 1980 J-J 122
111% 114%
St P A 8 City 1st r 6s...1919 A-O Ill*
111% Adg’lO
107
108*9112
°s 112 108% J’iy'10
Ohio A West Ind gen g 6s o 1932
10
01
93%
88
02
01*9
91%
Consol 60-year 4s
1962
Chic A W Mich See Pare Marq
Choc O & Quit SwCRI&P
118 Oot '00
Oln H A D 2d gold 4%s...l937 J * J
ioi i*08
Cin D A I 1st gu g 6s...1941 M-N i‘00 ib*3»i 101 J’ly 10
O Find A Ft W1st gu 4s g/23 M-N
87
87%
85
87% Jan TO
Cin IAW 1st gn g 4s.l953 J-J
106
107
107 Mar’10
104
Ind Deo A W 1st g 6s...1936 J-J
107 *9 Deo *02
1st guar gold 6s
1936 j-j
OlSt LAO BMOOOAStL
Oln SAC See CCOStL
Olearheld A Mah See B H A P
8 00*9 96%
02%
93*8 93*4 92%
Olev Cin u A St L gen g 4s 1993 J-D
94*8 94*9 Ang’O0
Cairo Dir 1st gold 4s.... 1939 J-J
90
94%
90 J’ly TO
00*4 92
Oln W A M Dir 1st g 4s. 1991 J-J
90 Aug’10
80% 96%
90^
St L Div 1st ool tr g 4s..1990 M-N
91
uc;
0
7
1990 M-N
Registered
100*8 96 Dec '09
Snr A Col Dir 1st g 4s..1940 M-6
90
00
89
00 May’10
W W Val Div 1st g4s...l940 J-J
105% 106%
106% Feb’10
01 St L A C consol 6s..1920 M-N 104*9
0b
06
*9
%
AugTO
06%
98%
1st gold 4s
.„...fcl936 •B
98
96
06
92*9
Aag TO
-F
Registered
fcl936
109*8 8ep '09
Oin S A Cl con 1st g 6s. .1928 -J 103
0 C O A I consol7s......1914 J-D lu6V...... It) D Ti UCC Uti
10.H
Consol sink fund7s.... 1914 J-D
119 119
i’l3 Aug’to
124
General consol gold 6s. 1034 J-J 110
••••••••
Registered
1934 J-J
04
J’ly’08
ind Bl A W 1st prof 4S.1940 A-0
O Ind A W 1st pt 6s...<(1938
*89
‘93 *06** Sep*’1*6
04%
Peo A East 1st con 4s... 1940
68
68
67
53% 53 Aug’10
income 4s..............1990 Apr
Olev A Marietta See Penn RR
Olev A Pitts See Penn Co
4 65
70
Sale
81%
69%
70
Ool Midland 1st g 4sM....1947 J-J
6
93
06
07%
05% 06%
96%
Colorado A Son 1st g4s...l929 F-A
120
06
96%
94% 99
96*8 Sale
Refund A ext 4%s
1936 M-N
111*9114
Ft W A Den 01st g 6S..1921 J-D 110 112% lll%J’neT0
Oolom A Greenv See So Ry
Ool A Hook Val See Hook Vsl
Ool A Tol See Hook Val
Ool Conn A Term See N A W
Conn A Pas Riva 1st g 4s. 1943 A-0
100
100
i*o*6 Mario
Cuba BU 1st 60-yr 6 g....l952 J-J
.449
• • •
•
....
?:?
....
....
......
.44
•
...
.
......
....
....
....
......
.
....
....
....
....
......
....
ti
••••*•
■•••••
•••••a
••••••
.
••••a*
....
44444.
*•••••
.....
....
....
LtakAGtSo see CM A St P
1917
Registered
10-yr oonv deb 4s
1916
1st lien equip g 4 %s ....1922
lstAref4s
1943
Alb A bus conv 3%s
1946
Bens A Saratoga Ist7s.l921
Del Rlv RR Bridge Am Pa RR
Deny A R Gr 1st oon g 4s. 1936
Consol gold 4 ‘as......... 1936
107
112
109%JT*eT0
112% 112%
127 J’ne’Oo
86
94 Sep *0b
115% 120% 116 J’ly’10
107%
107% J’ly TO
03 J’ly TO
0e% 90
86
102% Feu’03
H8%120 120 MarTo
140
Aug*0l
97 % 98
97%
07%
100 J’ly to
100% 101
98
08% 08%
38%
02
02*9 92 Sep TO
1*22*9 124% 123% Sep Tu
JJ
J_
J-J
••••••
F
M-S
-«*••••
J-J
M-N
Improvement gold 6s...1928
93
101
06
J-J
J-J
J
83%
Mge and col trust 4sA. 1949
U tab Cent 1 st gn g 4s <*1917
Des Moi A Jftb See M A st L
Dos Mol Un By 1st g 6s..1917
Det A Mack 1st lien g 4s. 1996
••••••
Dai A iron Range Ist6s..l937
Long Dock consol
i-
-
»
g
m mmmmm
113
117
107% 110*9
07% 101
•••
•
83 *&
89%
AugTO
07
Jau'o2
80%
•••••»
......
120
120%
96% 102
12
100
96% 100%
•••
123% 130%
01
•
100
.75
No
i 87% 94%
84%
83
mmrnoaw
....
m mmmmm
mmmmmrn
mmmmmm
97%
01
74
111
106% 107%
....
118
U7%
119
J’ly’10 .... 118% 122%
106
100
100
J’iie*lo
106% Mar’10
106% 10b%
103
103%
103
Mar’10
lo6% Jan To 1
106% 106%
101%106
98
102
••••••
83%
84
82
81
72
90%
09%
......
......
%
83%
80% 87%
68
Nov’Oii
67
72%] 22
85 % Feb *07
86% AugTO
Saio
70
72
86 %
76%
83% 86%
87
83
70
bb%
«0% 48 64
66
73%
64%
64% Sale
86% 131
100
116% 113% MarTo
1L3% 113 %
<110 116
111*9
111% Sep TO
121
Dec’08
<|
120
127
124%
T22% AugTO
68%
...
m
mmmmm
....
....
11)3 lu Del ’00
luo**
98
98
114
114
il.
.
103% 103%
104%
90 Sep *10.... 11 09
•!•
100% Dec*0b
80% 80
J’ue lO
1! 80
03
103*9J»n TO
103%
99%
....
...
80
106
....
108%May’10
1
>
08
102
1 IOI
1
% Mar’10
....
1
1108% 108%
it
....
1
Loot sa>s
As/c Low
6S..1926 J-J. Iu6
Erie A Pitts see Penn Co
Evans A X H 1st cous 6s. 1921
1st general gold da
1942
Mt Vernon 1st gold 6a.. 1923
Soil Co Branch 1st g 68.1930
......
114
A-O
A-O
Range
Since
January I
Stgfi Ao Low
Mian
Oct '09
109
116 Deo'09
100>* lUi % 101 *n J’ne’10
..
ii4
96
apt *06
J’ne’08
92
86
Ang'10
97
J’ly'09
101
102
....
4'argo A So AM Oh M A St P
lint A Pere M See Pere Mar
Fla C A Penrn See sea Air Line
Fort St U D Co 1st g4%8.l04l J-J
Ft W A Rio Gr 1st g 4s... 1928 J-J
<ai Har ASA amSoPacCo
TalH A Hof 18821st 58.1913 A-0
Georgia A Ala See sea A Line
Ga car A Nor
Am sea A Line
Georgia Paoido
Gila VGA Nor
86
84
06 **
88*8 92
87
86
Mai’lb
See So Ry
See So Pao Co
Grand
Rap A Ind am Penn RR
Gray's Pt Term Am st L s W
Gt Nor—O B A (J coll tr 4s 1921 J-J
Registered.A
1921
96** 200
94*8 97*8
20
94 % 0b%
96
93
100
98
98
St Paul M A Man 4s....1933
Aug’10
...'
126
% 128%
1st oousol gold 6s
1933 J • J, 1237a 127% lii5*vJ’ly LO
96*4 Sale
95%
97
100
S3
96*«
IJ 32
Apt’Ob
Registered
1933 J - J,
Reduced to gold 4*as 1933 J-J 103*8
jl04 Aug 10
Registered
1933
J-J I ----•» itlllk
•nts
1 IK La
Utile
1D1G KM
>
10u*8
Dakota
iW*i
ext gold 6s....1910
M-N 100*8
08
94
Mont ext 1st gold 4s..1937i J-D
Aug iO
10O
•«
out
'06
Registered
1937 J -D
E Minn Nor Dlvlst g4sl948 A-0
93 -j
0b% Jan Tu
114% beu’7b
Minn Union Istg6s..l922 J-J
HJig
125
Mont C 1st
Aug’10
gn g 6S....1937 J - J 123’8 160
130*4
06
Registered.
......1937 J-J
1st guar gold 6s
1937 J-J 100% 113 *110 J’ly’io
Will A S F 1st gold 5s 1938 J-D 110
|116 J’ue’ub
Greenbrier By See Ches A O
Gulf A s 11st ref A t g 6s 01962 J - J
Apr'io
103% 107 %
100*9 101^
08
100*4
I
A st JoSeen
See GYN
Han
bag
ousatomo
HAR.
00%
1961' J-J
:
101% 101%
n
114*9
129
llo” il3»i
87Vi
047s
99 t8 104
96**
06*9
*09
c cu
J’neTu
104
00
02
09
100*4
94
...1961 J-J
1951 A-0
Extended 1st g 3 %s
1st gold 3ssterling.
Coil Trust gold 4s
1*3
126
107% * i* ’07
92
Aug, 10
104
Illinois
Central 1st g 48..1961
Registered.
...1961 J-J
J-J
Registered.
'00*4 *99**
101
102*9 100
100*9 Sep ‘us
95 *9 MayTO
Hook Val 1st consol g 4 *08.1999 J-J
Registered
1000 j. j
Col A H V 1st ext g 48..1948 A-O
Col A Tol 1st ex 4s
1965 F-A
Honst E AW Tex see so Pao
HooatATexCen Am So PacCo
106*4
Sep ub
93%May’u0
su
Jiy‘09
99
Aog’iO
1961 M-S
1962 A-O
99
J ue‘U9
1962 A-O ------- 96
9 b *8 Sale
1st ref 4s
9b7s
97
1956 M-N
98*4
98*4
98*4
UOA Tex gold 4s ...1963 M-N
91
May'ui
91%
Registered
1963 M-N
..Z'loO Apr *«9
Cairo Bridge goal 4s
1960 J -D
67 *s may To
84*8 90
LOmsvDivATerm g3 *98.1963 J • J
123
-uaj'ilb
Middle Div reg os
1921 F-A 102
77*4 Mar’lo
Omaha Div 1st g 3s
1961 F-A
79
‘4
Dtje’ua
St Louis DivAterm g 38.1961 J • J
Registered.......... ;..i‘,»61' J - J
86
89
89
Feb’lo
Gold 3*98
1951 J-J
lOi *8 vh* *99
Registered.
.....1961 J-J
lOO
.\uv’UU
85
Soring Div lstg3*9S...1961 J-J
95
93*9
J’ly’io
Western Lines 1st g 4s..1961 F-A
116
117
*9-na>"io
Believ A Car 1st 6s
1923 J-D
99
icu’10
Carb A Shaw 1st g 4s... 1932 M-S
lib
Ohio St L A N O g 6s...1961 J-D lib'’
Aug io
Registered
06** **09«i
01
^4 100H
.....
87*8 88*9
*7*7*4 ’*7*7*4
1961; J-D
112
118
116
IndBlA West amCCCASILI
ind Ill A la 1st g 4s
i960 J-J
int A Great Nor 1st g 6s..1919 M-N
2d gold 5s
1909 M-Sj
Trust Co oertfs
<
3d gold 4a.....
1921 M-S
Iowa central 1st gold 6s..1938 J -D
Gold 4s
1951 M-S
(.aiAAGR AMLSAMS
IVan A Mich Am Tol ACC
KUFtSAM AMStLASF
KCAMKAB AMStLASF
Ran C A Pacino
see MEAT
Kan City Sou 1st gold 3S..1960 A-O
94
„
lu7
73
May’10
jliw
73
Sals
63
ibb% ibi*
jbLeox A Des Mo see C R 1AP
Knoxvuie A Ohio see so Ry
101
May’lb
North oluo 1st gag 5s..1945 A-O *106
LShoAMiOhS AM N Y Cent
I
LehVaiN k 1stgug4*98.1940 J-J i*106
.1940 J-J *
4s.2003 M-N
5s. 13411 A-O
10411 A-O
Leh V Coai Co 1st gu g 6S.1933 j - j
Leh AN Y 1st guar g 4S..1945 M-S
Registered.
..1946M-S
E1CAN 1st pf 68 .....1914; A-O
Gold guar 6s
1014 A-0
......
108
118
07*9
07*9
05
08
60*4 77H,
73
10
Oct ‘ob
101
108*9 Sep TO
lo6\ loo *9 a*ar 10
99
108*9 110*4
iUb34 112
17 10b
112*4
10*« 35
102
100*4
lb
71*s
74
09*9 103
109 *9 HI
Kne5s
A W lstg6s.. 1937
Lake
2d gold
1941
g
g
96
98
118
106 *9 Sale 106
»ot •*
18*8 18*91 LtfSAng’lo
1103 J iy lu
103
74*4 69 >4 AugTO
Bex A impt 5s Apr 1950...... A-O
Kentucay Cent see LAN
Registered...
i
107 Vlo8v J iy
............
i960' A-O
Lehigh Val (Pa; cons
Len V Ter Ry 1st gu
Registered
95
J’iy*08
06
00
Mai io
98
89
114*4 110
90
Oct *09
91 *9 MarTo
1961'J-D
Meinph Div 1st g 4s... 1961 J •*>
St L Sou 1st gu g 4s
193M-S
88**4
117*9117*9
......
Registered
•*••••
82
41
Deo'09
| 00% Feb’io
120% 124 Aug 09
108*9 112*8
....
mar To
106Si 107*9
108*9 112
I
106 Il06»4 J’ue’lO
10434 107 au* 09
06a4 97*9Apr'io
J'ue’lO
.:.... 11334 100*9 ect *99
I06
108
Nov’00
00
96
93s4 Mar* 10
114
H14
105*4 108*9
b6 *9
114
97*9
115*4
...
iu*2*’ ’!!!! ib’is Feb’io
101*4 AUp '00
100
03*4
06
ioi**9 ioi *9
Leh A Hod R See Ceut oi N J
Leh A WiUtesb see CealolN J
Leroy A Cauey Val See Mo P
uong Docs, am srie
Liong
109*%..... 112
isl*a—1st con g 5S.A1931
1st consol goia 4S......A1031
General gold 48.
1038]
U
1922 M-S
Ferry gold 4*98
Gold 48
..........1932 J-D
Unified gold 4s
1949 M-S
Debenture gold os
.1934' J-D
BONDS—Continued
on
03
101
Sale
03
Feb'10
03
112
112
07*4
03
06*9 loo
100*8 FeO'io
90 *4 Oct '06
03
00
05*8 03*9 aiar’lO
104*9 Dec’08i
100*8 100*4
96
03*9
Next Page.
Gas and Electrlo Light
io7%
NYGELHAPg 5S...1948
Purchase money g 4s...1049
ioi
N YAljEi LAP 1st con g 6sl93o
N Y A Rich Gas 1st a 5s.1921
J-D
«-Nl
tA- 8
J-D
F-A
.d-N
A-d
A-O
A-CH
J-J
(J-F
A-0
d-N
J-Dl
106
65%
106
AugTO
60% Sep TO
105
-
60% 67
ioi
ibl
Apr’io
06% Sep ’Ob
106% 165% 101% J’ne’10
61% Get ’01
09
97
101
08
101
oi’% 105%
97
101 %
112
115
90
101
112
Aug’ 10
90
Mar’lo
108%
--*
a
97
...
07
101
llO% 116
87% 00
100% I06
90
101
01
02%
00
1.2
10<%
101% 101% 101%
00
99
100
Sep TO
90% 01 Apr’lv
.....
ibl%io3%
101% AugTO
MarTo
07
102
1
—
J
-
....
....
Due Jan
1
b Due
Ed El ill 1st cons g
5s.. 1995
t
ab
100*9 Sale
100*9
84*8 sale
Aug'
111*. ill
LOU*4 .viai *10
100^
l5
i,orp
unifying A ref 5s itM*
bs.l04o
Refunding gold 5s
.1047
Ch G-L A Cke 1st gn g 6s 1037
Con G Coot Ch lstgug5s.'3b
Ind Nat Gas A Oil 30-yr 6s ’36
mu P uei Gas 1st iru g 6s. 194 <
Philadelphia Co oonv 6s ..1010
Syracuse Righting 1st g 5s.'5i
i ronton G A El 1st g 6s..194;
Union Elec LAP Istg6s.l932
Westchester Light’g g 5s.l95u
d Due Apr
e
Due May
ADueJ’ly
99*910314
87
80
110
111*9
100*4 101^4
07*s,J’iy ’09
Pacific G A Eleo Co Cal G A E
Peo vjras ao u 1st oon g
.....
Oct ’Ub
LOO
.
A-O
J-J
J-J
F-A
price Friday; latest bid and asked this week,
04%
107%
100
6s.. 1936
EqG LN Y 1st oon g6s..l032
Gas A Eleo Berg Co c g 6s.l040
RapG LCo 1st g os...l01u
Hudson Co Gas 1st g 5s..1040
KauCity (Mo) Gas 1st g 6s 1022
Kings Co El LA P g 6s... 193«
Purchase money 6s...... 109'.
Ea El 11 Bkn 1st oon (4s 103v
Lac Gas LotSt L 1st g 6s.«101i
Ret and ext 1st g 5s
1034
Milwaukee Gas L1st 4s..102
Newark Con Gas g 5s
104b
*
g
Registered
MISCELLANEOUS
’
Ind 1st oon gu
Gold 3*98.
10b % mai'b&
71
106
00%
26
••••••*•••••
02
0t%
92% 97%
103% 104%
166
00
103
1
107% Ang’10
1928
Gas and Electric Light
Atlanta G L Co lstg 5s...1947
Bkiyn U Gas 1st oon g os.1045
Buffalo Gas 1st g 5s
194.
Columbus Gas 1st g 5s.... 1032
Detroit City Gas g 6a......l02o
Det Gas Co oon 1st g 6S...101&
Gr
Ev A
_
§1
Range or
,
Sept 16
Bid
■«
WeeBe
Brice
hYidav
,
......
Sep '04
Ang’10
110
04
80
74
......
108*9
1919
1923
1920
Coal A RR 1st cur gn 6S.1922
Dock A Imp 1st our 6s.. 1913
N Y A Green l, gn g 6s. 194b
N Y Bus A W iBt re: 68.1937
2d gold 4%s.....
1937
General gold 6s
1940
Terminal 1stgold5s...1943
Regis 46,000 eaoh...l943
Wllk A Ea 1st gu g 6s. 1942
m m ommm
106*9108% 106% Sep TO
1st consol gen Hen g 4sl996 J-J
Registered.
1996 J-J
Penn coll tr g 4s
1961
60-year oonv 4b A ....1963
do
Series B.1963
Buff N Y A Erie 1st 7s..1916
Cine A Ene 1st gold 6s.. 1982
Olev A Maliou Val g 68.1938 J-J
1
rr#f
04
88
72
2d 6b
...1916 J-J
Dai Short lane See Nor Pao
Dal So Shore A Atl g 6s..1937 J-J
L'astof Minn AMStPMAM
Clast Ten VaA Ga See So Ry
Elgin Jol A East 1st g 68.1941 M-N
Elm Oort A No £m Leh ANY
Erie 1st consol gold 7s....1920
N Y A Erie 1st ext g 4s 1947
NYL£AW 1stg fd78.1920
Erie 1st con g 4s pxior.,1996 J-J
1990 J-J
Registered
444444
J’ly TO
Feb TO
Registered...............1937
i
02%
84
114%
112
omamom
94 Sep TO
1U4% AiaC’10
101 Sep To
01%
01
08
Feb’Oh
78 Dec’00
85
Mar’08
04
Gold 4s.
1995
Det so—O S DiV 1st g 48.1941
'
94%
’70"
90
109% 111%
i
099
•
•••
104
101
01% Sals
1st A retnnding 6s
1966
Rio Gr Juno 1st gn g 68.1939
Rio Gr So 1st gold 4s. ..1940
Guaranteed
1940
Blo Gr West 1st g 4s....1939
2d ext gold 6s
3d ext gold 4 %s
4th ext gold 5s
5th ext gold 4s...
••••••
*2
Wkick Ending sept 16
lSt gOiU 3*j|8
/alias A Waoo See MEAT
Del Lack A WesternMorris A Essex 1st 7s. ..1914
Construction 6s
1923
Term A Improve 4s.... 1923
Warren 1st ref gug 3 %s.2000
Del A Hud 1st Pa Div 7s. 1917
BONDS
N. Y. STOCK EXCHANGE
•••••*
•44444
....
Istoonsol guar 7s.....1916
Registered
1916
1st ref gn g 3 %s
2000
N V Lack AW Ist6s...l921
"3
-
it °
[ VOL. JjKXXXI.
Record—Continued—Page 2
91*9 92
01*9
91*9
110
H7S 110*9 Aug'lO
101*9 "Ollfc lbl*9 ioi *9
10 i *8 104 S 103
J’ly’lc
LUO
101 *9 May’ 10
102
04*9 Aug’O0
Mtu’lb
90
101
10l*s i*9
98
110
96
98*8...,
102*9 100
99
98
....
k Due Aug
q
100
Aug’lo
92
91
116*9110
101*8 104
102 7# 104*4
100*4 102
10l
101
00
08
105
100
IOC
100
*06
Jan'08
J’ne’lo
Due Deo
2Option Sals
Sept. ,17
New York Bond
1910*]
BOND*
yI
,
N. T, STOCK EXPR A NGE
Week
sept 16
21
1649
NorShBlstoon giru&sol032
Louisiana A Ark 1st g 68.1927
Louist A Easily sen a 0S.103O J-D
Gold 6s....
1987 M-N
Unified sold 4s
1949 J-J
S :i
.
-
*
1134
U»4
Apr’! ii
112
103
124
120
108
••awe
98
98
77
131
118
....
....
70
81
974
89 4
83 m
84
75
87
dale
80
Sale
84
844
88
105
109 4 100
103
90
92
78
9*24
bait
»*24
914
87 4
2
824 847e
2
SO
Apr '09
J’ue’10
ly 10
Mar’lo
105
•
107
2:i
General gold 4s
..193a
Montgom Div 1st g 6s.. 1947 F-A
St L A Cairo ooU g 4s..sl93u
Guaranteed g 4s
1931
MAC ooll 4s AM Southern
Mohawk A Mai AmN ICAU
Monongahela Riv am B a O
Mont Cent Am St P M A M
Morgan’s La A T Am s P Co
Morris A Essex Am Del LA \V
J-J
1st oonsoi gold 6e.
192© A-O
Jasper Branoh let g 6s..1923
MOM MWAAl 1st 0s..1917
TAP Branch 1st 6s
1917
Nash Flor A Shel am LAN
Nat Rys of Mexpr 14 4s 1957 J-J
Goar gen 4s
*
1977 A-O
Natoi Mex prior uen 448.1926 J-J
1st oonsoi 4s...
1961 A-O
New HAD amNYNbab
N J Juno HU Am N Y Cent
N Y Bkin A Man Beh Am L1
N Y Cent A H Riv g 3 4s. 1997 J-J
Registered
1997 J-J
,
Deben g 4s
1934 M-N
Lake Shore ooUg 3 4s... 1998 F-A
Registered
199a F-A
103
78
w
107
lOd
Nash Chat A St L 1st 7s. 1913
814
96
014 96
86
874
80
2
08
113
xu74
107
Sep ’09
111
84
b44 834
lbo4
113
20 1064110
"l8 *81** *8*0**
86 4
So 4
102 4 Jan 'lu
08
Dec ’00
u’44 iVr"
til
85
76
28
914j
May’lo
sale
fc3n
86 4 Sate
108
111
1024
994 904
100
1024
8
,
Feb’. 0
105
iuo
SO
1U4 113
014
lud
ib*5
00
03 4
100
113
103
1074
100 4105 4
Apr’10
Aug’10
xiai’06
Msy’lo
814
78 4 864
834 004
24
„
110
99
'os'*
131
064100
82
874
11
10 100
964 Nov’08
93
9i 4
100
904100
98 4 984
1004 10 i
1004 99-te Mar’10
1004 'tali. IO04 io04
bale
99
314
75
87
xo8
1004 Sep 10
78
064
27 4
1024100
1U44102 AuglO
109
lio 4 Apr'u9
106
lud
108 4 108
984
ioo 4 ib’i"
»3 4
J
934
131
'10
***»
90
100
Ahg 10
Slay 10
Mar’lo
83^
884
75“ 7*7 *
974
98 4 Jan’lu
108
1001,
92
*94*4 “99*4
974
100
108
974
105 4
38
824 874
102 4 1024
»•••!
••••••
••••#•
116 Anglo ...*116 lit 4
2 11441174
1144 1144 tx44
87
87
May’10
87
t»0
108
103 4 Mar’lo
82
76
May’08
00
90
J ue’10 ,”j *9*6** **90**
....
....j|lO841O04
1 10741104
107
107
1084 J’ly’10 .... 10841104
1164 May’O/
117 4 Mar’05
113
J'ly’04....
Sale
HO
U6 4
•
944 05
1
80
87
89 4
95
05 4
22*
88 4
884 14 874
864 J’ly'10 ...w 1 804
95 4
054 11 02~
86 794
814
814
“
,
814 83
,
70
95
!
034 954
37 4 00 4 88 4
884
1 874 024
104
1004
1004
1 1004 1024
834 85 4 834Sep’lu.... 82
85
88 4
95
■
bile i 70
70
Y. STOCK EXCHANGE
Were
Endin'* Srpt 16
«-2
Pries
L W
triday
Sept 16
C
<£
WeeVs ?
or
So'
^ <
Last sale
bangs
Since
January 1
Range
lUtt
N Y Cent A H rt—<X<m>
AS*.
Mich Cent 00U g34».... 1998 F-A
Registered
........1998 F-A
794
Beech Creek let gu g 4s.l93ti J-J
90
J-J
Registered..
1936
2d gu gold 5s
1930 J-J 1<>6
Beech Cr Ext 1st a 3 4s6l .»51 A-0
844
Cart A Ad 1st gu e 4s...1981 J-O
Gouv A Oswe 1st gu e 6s 1942 J-D
Moh A Mai 1st gu g 4s.. 1991 M-Si
N J June R gu 1st4s...1986 F-A
N Y A Harlem g 34s...2000 M-N
110
N Y A North 1st g 5s...1027 A-O*
N Y A Pa 1st oon gu g4s 1003 A-O
95
904
Nor A Mont 1st gu g 6S.1910 AO
Piue Creek reg guar 0s. 1032 J-D
R \V&Uconl8text5s.A1022 A-0 10041104
Oswe A R 2d gu g 5s...sl015 F-A
1054
R WdbOTRlst gug 63.1918 M-N 1074
05
Rutland 1st con g 4 4s.. 1941 J-J
80
Og&LCliam 1 st gu 4s g 104 8 J-Jj
Rut-Canad 1st gu g4s.l949 J-J
St Law A Ailir 1st g os. 1996 J-J
2d gold 6s..
...1996 A-O
Utloa A Blk Riv gug 4b. 1922 J-J
994100
90 4
Lake Shore gold 3 4s....1997 J-D
88
88 4
J-D
Registered
1997
Debenture g 4s
934 934
1928 M-8
93
Sale
25-year g 4s
*.1931 M-N
110
Ka A <fc G R 1st guo 58.1938 J-J
Mahon 0*1 RR 1st 5s.. 1934 J-J
107
Pitts <fc L Erie 2d g 59.al028 A-O 100
122
Pitts McK A Y 1st gu 0S.1032 J-J
2d guards........
.1034 J-J 120
McKees A B V 1st g 6s 1918 J-J 107
Mich Cent 5s
1931 M-S
1004
1084...,
Registered
1031
48
.......1940
1940 J-J
Registered...
J L A S 1st g 34s
1951 M-8
82
80 4
1st g 348
1952 M-N
01 *v
20-year deb 4s
1020 AO
Bat C A btor latgugSs.1080 J-D
N Y Chic A St L 1st g 4s 1037 A-O,
984 69
904
Registered
1937 A-O
Debentures 4s
1931 M-N!
804 91
West shore 1st 4s gu...2361 J-JI 1014 Sale
2361 J-J
074 90
Registered
Hitt'* AO Low MigS
79
Sep ’10
78
824
79 4 Aug’lo
7»J4 794
97 4 Aug’10
07 4 984
102
Alai ’04
Loo
“
......
......
97 4
Apr’00
084 j’ne’Vo
....
084 094
' M l
105
*02
93
Aug’10
108
Oct '00
95 4
95 4
9*3** *9*3*4
*9*5*4 **9*8*4
i31 n Jan *09
lu/
J’ly’to
105
Jan’o*
104
J’ue’iO
102 4 Feb'in
85
Sep TO
02
J'ue’oa
Jiif’OH
115
125
Feb’08
107
110
104
104
10141024
85
014
•
•
102
100
Apr’l
1
90
bep’lO
*5
88
>>84
884
i*o*r
90 4
93
03 4
024
93 4
109
100
11
48
924
92
92
92
954
954
99
99
87
00
89
024
’07
Deo’U0
uul
1304 Jau '09
.....
May’10
Jau ’07
l0A4
1074
954
H04U04
1094114
May’lo
1014 lU2*4 1014
904
114
1004111
Mar’lo
Feb’08
974
107
91
Apr '06
98
074
103*
113
904
100 4 J’ly
• ••<
1044 104
97 4
80
80
1264
ai *»> ’09
99
99
314 May’ lo
25 4 Apr ’09
964100
M-S
J-J
A-O
M-N
F-A
A-O
M-N
M-8
J-D
M-S
M-N
M-8
"
Registered ...........al917 M-S
1st OOll gold 6s
1920 F-A
40-year gold loan 4s
1945 M-S
3d 7a extd at 4*4
1938 M-N
1st A retoony os.
.1959 M S
Cent Br By 1st gu g 48.1919 F-A
Oen Bran oh U P lstg 4a. 1948 J-D
Leroy A C V A L 1st g 6s 1920 J-J
Pao B ot Mo 1st ex g 4s. 1938 F-A
2d extended gold 58...1938 J-J
St L Ir M A Sgen eon g 5al931 A-O
Gen oon stamp gtd g 6s 1931 A-O
Unified A ref gold 4s..l020 J-J
RlV A G LlV let g 4S.. 1933 M-N
Verdi V 1A W 1st g 6s.l926 M-S
MobJ A K C 1st cons g6s.l053 J-J
Mob A Ohio new gold 6a.. 1927 J-D
1st extension gold 0S..A1027
100
ib’74 iVo4
Sep’10
964
»0
100
M-N
Max’ 1 u
’09
96
28
70
104
06
.03
L24
102
99
•
110
1114 112
97
104
131
101
lu7
102
96 4 Sale
Stamped guaranteed... .1977 M-8
Mex North 1st gold 6s....1910 J-D
Midi Cent tie* N 1' Cent
Mid ot N J
Am Ene
MilLSAW AMCUIOANW
MU A North Am Ch M A St P
Minn A St L 1st gold 7S..1927 J-D
Pacific Ex let gold 0s...1921 A-0
Sooth West Ex 1st g 7s.l9l0 J-D
lstoonsolgold 6b
1934 M-N
1st and rotund gold 4S..1949 M-S
Dee M A Ft 1> 1st gu 4s...’36 J-J
Minn A St l gu amBCKAN
M StP A S 8 M con g 4 int gu ’36 J-J
•i 8 S M A A 1st g 4 int eu 1920 J-J
Minn Un Am St PM AM
Mo Kan A Tex 1st g 4s... 1990 J-D
2d gold 4s
.0i99O F-A
964 1004
iio4Har’io
109 4 J’ly’io
004
904
90
2d eons mo g 8s trust reels.,
Mex Internal 1st cou g 4s. 1977 M-S
114
.....
1104
1094144
nails X Cent
4s.
1911 J-J
al939 J’iy
114
*66
J’ly 10
Anglo
904 Sep 10
1004 Aug’lo
904
•••••»
1124 1164
92 4 Aug’lo
110
J ty 00
lio
Jan’09
....
964
••
May’uu
Dec’09
J’ly’io
J’iy ’to
Apr’10
944 964
I0I4 1064
94
tixatx
044 100
Jau
113
71
....
J
Lou
1
1074 Mar'lo
....
J-J
974
100
100 4
io7
Il8i,i244
oons g
1st ext gold 6s..
1944
1st A refund 4s
...2004
Gen a t 44s
1936
St L Dir 1st ret g 4s....2001
Dal A Wa 1st gu g 6s... 1940
Kan C A Pao 1st g 4s...1990
Mo K A E 1st gu g 6s...1942
M K A Ok 1st gn 6a.....1942
M K A T OIT 1st gu g 6a. 1942
Sher Sh A bo 1st gn g 6s. 1943
TexA Ukla 1st gug 6s... 1943
Ho Pacific 1st con g0s ...1920
Trust gold 6s st&mped.alOl?
Not’OO
Nov’OP
105 m 110
113
08
75
92 4 94
100
103
latoonsmog 8s
i
109
97
IU
•••,
....
A-0
Registered..
1990 A-O
A-O
Stmpd tax exempt.. 1990
M ex Cent
•••<
...
A\ ahon Corn see L S A M 8
iuLanhattan Ky consol 4s. 1990
MoK’pt a B V
•
•
1064.
1094
1024 loo
F-A
J-J
F-A
F-A
SAN Ala oon gu g 6s.. 1930
LA Jett Bdge Co gu g 4s.. 1946 M-8
<LN A A Ch SOCIAL
•
04
January l
101*4 Deo’bft
08%
M-8
J
100
101
03
N.
bines
Ho
’
is
BONDS
bangs
1104 Nov’00
105
Apr’07
1)7*4 sale
J-J
A-0
M-N
£ U A Nash 1st a 6S....1919 J-D
L Cln A Lex sold 4 4s. ..1981 M-N
NOAM 1st gold 6s....1980 JJ
N O A M 2d gold 6s
1980 J-J
Pensacola Dlv gold 6s... 1920 M-8
St L Civ 1st gold 6s
1921 M-S
2d gold 8s..
I960 M-8
▲tl Knox A Cm diy 4s.. 1966 M-N
Atl Knox A Nor 1st a 6sl946 J O
Bender Bdgeletsl g08.1931 M-S
LAN A M A M 1st g 4 His 1946
LA N-South M joint48.1962
N Fla A a let gu g 6a... 1937
NAO Bdge gen gu g 4 4s 1946
Pens A Atl 1st gu g 6s..1921
ib*7
l5
Sign
004 Sep'lo
97
1«3
1184
1124
Registered
.....1940
Sink fund gold 6s........1910
Coll trust gold 6s
1981
Kentucky Cent gold 4s.. 1967
Lou
-
964
M-S
Bkljm A Mont 1st*6s..1911 M-S
1st 6a
1911 M- 8
N Y BAM Blstoonr6al93b AO
NY6BB 1st a 6S.....1027 M-S
Goar ret gold 4s...
-
we«kf$
bangs or
Last .sate
Sept 16
bux
LongTsiana—,(ton)
-
Prtce
Frida«
Record—Continued—Page 3
78
2
1
92
904
054
824
804
115
110
3:?
NY*
Greenw Lake
09
93
90
87
90
Oct ’09
j ue’06
Jau T
Dec *09
J’ue 08
Apr’ i 0
Sep TO
084 Sep ’lu
i iec ’u9
100
90
1014
08
9741004
J’ne’lo
02
00
1014
084
8
85
134
100 4
112 4
33 1304 1354
93 | 004 1034
2 112 4116
004 1024
064 1004
see Kne
N
N
N
N
Y A Har See N Y C <& Hud
Y Lack AW See D L AW
Y L E A W See Erie
Y A Long Br see Cent of N J
N Y N H A H—Cony 6s.. 1948 J-J
Couv deben 3 4s
...i960 J-J
Housatonic R eon g 6s.. 1037 M-N
N H A Derby oon oy 58.1918 M-N
r Y A North See N Y C <to a
N Y O A W ret lstg 4s..gl092 M-S
Regis *6,000 only
01092 M-S
N Y A Put See N Y C A a
N Y A R B See Long Island
NY SAW See Ene
N Y Tex AM See So PacCo
Nor A South 1st g 6s......1041
Norl A West gen g 0s.....1931
ImprovemT A ext g 6s.. 1934
New River lstg0s
1032
N A W Ry 1st oon g 48.1096
Registered......
1099
Div’i 1st l A gen g4s...l044
10-25 year oonv 4s.... 1932
Pooah C A 0 joint 4s.. 1041
O C A T 1st gu
g 6s
1922
8010 VANE 1st gu g 4s 1989
North Illinois see Clu A N W
Norm Ohio see L Erie A W
Nor Pao—Prior Uen g 4s..1007
Registered
1997
1334 Salk
994 sale
112 4 bale
1004
1334
094
112 4
107
964
06
101
M-N
M-N
F-A
A-O
A-O
A-O
J-J
J-D
J-D
J-J
M-N
100>4
1244125
Q J
100*fc Sale 1004
984 034 984
714
717§ bale
4-J
General Uen goid3s....a2047 4-F
May’10
100
123
..
126
TiarTo
123
May TO
98
08 4
4
0rf
97 Apr To
02 4
92 4
sale 1 90
004
Sale
864
60
106
Apr TO
*131*1 04 J’ly’10
122 4 128
120
07*4
99
88
03”
»
08
1014
1264
12441204
123
1244
14
004100
97
01
*2
924*924
70
00
Registered
a2047 4-F
St Paui-Dai Div g4s....l996 J-D
97
Dui short L 1st gu 6s.. 1916 M-8
00
004 GBA<4ooUtr4s SeeGtNor
St P A N P gen
g 0s....1023 F-A 116 1164 1164
117 4 11/
Registered oertifio’s..l023 «-F 112
St Paul A Dui 1st 5s....1031 F-A 105
110
2d 6s
1017 A-O 103
103
1st oonsoi gold 4s
90
05 I 064
106b J-D
Wash cent 1st g4s
92
1 92 4
1948
Nor Pao Ter Co let g 6a..l933
♦HO
110 4
Nor Ry Cat see So Pac
Nor W is see CStPMAO
Nor A Mont See N Y cent
97
934
9441084
864 904
40
12
1044 106
94
904
..
13 99
1024
7 1 984101
63
0w 4 74
27 0J
724
101
984
7i4
70
Mar’lO
Feb’10
;
904 974
| 00
99
Aug’10
1164 U84
Feu TO
117
117
J’ue’lu
Aug 1 j
110
103
110
1034
964 974
Apr’10
Jau’U9
Aug’ 0
...
11041104
See C C C A st L|
v/nio Rxv RR See ualt A O
Ore A Cat See So Pao Co
Ure Short Line see Un Pao
Oswego A Rome See NYU
pao Coast co 1st g 5s....1946 J-D
A ao ot Missouri See Mo Pao
Peun RR 1st real est g 4s. 1023 M-N
Cou sol gold 5s
1010 M-S
Consol gold 4s
Convertible g 34s
M-N
1943
1912! M-N
Convertible g 3 4s
.1916! J-D
Consol gold 4s
1948 MN
Aiieg Vai geu gu g 4s...1042 M-8
D R R R A Bgelst gu 4sg.’30'
F-A
PhliaBai A W 1st g 4s..l043jM-N
Sod Bay A So 1st g 5s...19241J - j
U N J RR A Can geu 4s.l044'M. S
Penn co—Guar lstg44a.l921l J-J
10211 J - J
Registered
Guai 34s 00U trust reg. 1937 M-8
Guar34sooUtr ser B...1941 F-A
Tr Co oeruf’s gu g 34e.l9i0 M-N
Gu 34s tr ctls C
1942 J -D
Gu 3 4s tr ctfs D
1944 J -D
M1SCKLL 4.NKOUS BONDS—Continued
96
12334 J’ly’io
v
| § Ind A W
Aug’00
074 Aug’lu
1014 J uc'00
on
1044 1044
103
1044
10241084
I
1014 102
......
......
102
984 99 I
06
sale !
1094 Jau '00
106
Feb’10
084
964
9J
06
IO14I024102
100
94
luu
100
1
...! 102
Aug’10
1024
1024 Apr’lu
I
I
1034
::: iuo” iue**
23
42
31
...
984
944
1014
1024
102
974
1044
1024
I034 Dec’09
4
.102
Jau
’03
1034 May’10
108 104
103
1044104 Sep TO ....103 106
100 4
1034 Feu TO
1034 1034
00
00
884
90
Aug’ 1J
88
804 914
894 j iy TO
97
07
064
6 064 974
90
87
87
AngT0,....i 87 90
91
8S4 94
Deo’09,....
....
,
<
Next Page
Coal and Iron
Buff ASusq
Irons! os....1932
Debenture 6s
Coil!
A x Co
gen
a
J-D
sighs..194c
90
fr-A
Convertible deb g os....1911 F A
ColIndulstA coll 6s gu..l934 F-A
Oontin’talClsts
i
.
"
yalrop Coal AColst g 6s. 1949
♦No
00** ioo*
A-O
J-D
J-J
05
J-J
J J
J-J
,
08
88
87.
994
004
prioe-Friday; latest bid and asked. aDueJan
08 4
964
824
1024 Apr’Ob
107
May’97
,05 4 Dee’ot)
83
J’ne’lO
73
Feb’uir
too
,••••••
J-J,
M-S
09
82
1004102 •- 102
104
bale
104
104
100
104
100
ilO
j.
A-0
J-J
JO
F-A
06
93
70
.....
gu6sg.l9o<; F-A
Gr Riy coal A C 1st g6s..1919
Jett A Clear C A 11st g 6s.l92*
Kan A HC A C 1st s tg5s.l9t>j
Pooah Con ColUer lsts 1 6s.’5 ,
Sunday Creea Co g 6s
1944
^enn Coal gen 6s
...1951
Tenn Diy 1st g 0s
«1917
Birin Diy lstoonsol 6s..1917
Oah C M Go 1st gu g 0S.1922
De Bar C A 1 Co gu g 0a.l01o
viotor Fuel 1st s 15s......l953
.Uanufacturing A Industrial
99 4 Nov’09
94
Deo’00
084101
084
984
974 96 *a J’ne’10
76 4
764 Sale
76-.
,074 Deo *04
19*0 M-S
83
1*0*2*’ ib’i 4
Attg’10
104
103
104
Jan ’09
Jan T
107
1034 107
too** ibo**
Aug’09
•
••••*'••••••
944 100
09
0 Due Feb
83
«
Due
Allls-Ohalmers 1st 5s.^...l936 J-J
Am Ag chem 1st o 5s
1028 A-O
au Cot uu ext 44a
1015 4-F
Am Hide A L lststg 6s..1910 M- 8
Amer lee seour deb g0s.. 1025 A-0
Am Spirits Mfg 1st g0s..l01u M-S
Am Thread 1st eoi tr 4s..l91o J-J
Am Tobacco 40-yr g 0s.... 1044 A-O
4 a. ........................ 1061 F-A
ieth Steel 1st ext st 6s.. 192b J-J
lent Leather 20-year g
6s. 1025 A-O
ona
1 Tobacoo g 4s
corn Prod Ret s t g
1st
5s
1951 F-A
1031 M-N
26-yearst 5s
1034 M-N
Ouban^Araer Sugar ooll tr 6s T 8 4-0
Distil ^ee cor oonv ist g 6e.’2« A-O
EI da Pont Powder 4 4s.. 1030 J*D
May pDueJ’no A Due J’ly ft Due Aug
70
Sale
76
1004101>*.
96
034
101
00
03
sale
73 \ 07
764
1014
90
934
17
72
844
10 100
103
03 4 98
22
02
102
43
66
67
734
Aug’10
04
U0
04 4 07
044 AaaTO
26
89
03
89 4
83
80
110
104
Iu5
Sale
105
1054
4 100
80
Male
804 573 704 864
784
8
83 4 80
84 4
84
84\ 84
08 4 Salt
984 96 07 102 '
98%
70
2
70
704 884
784 80
94
93 4 87
03 4
4 AuglO
......
00
......
•DneOet
94
97
00‘s
88
94
Aug’lG
004 J’ly 10
00 86-
09V,
JTyTO
934
90
67
85
pDueNoy 4 Due Deo jt Plat,
964
97^
74%
884
704
17
New Tort Bond
BONDS
Weekft
f+Wai
flange or
Week KHwst, skpt Id
Sept 16
Last Sals
.
Pennsylvania Co—('Con;
*
S*u
Guar 15-26 year * 4m. ...1931
Cl A Mar 1st gu k * 4*..10H5
Cl A P gen gu g44sser A.’42
Series B
1943
Senes C 84s
1048
Senes B 3 4»
I960
Erie A Pitta gug 3 4s tt. 1940
Senes C
........1940
GrKA lex 1st rub 4 H»a 1941
Pitts Ft W A 0 1st 7s...1912
'
‘
3
Pries
w. r. stock exchange
A O
M-N
J-J
A O
M-N
F-A
J 4
sal©
I 98
: 110.
......
90
90
......
91
Bale
90
1«0
104 4
104 4
91
91
1044 1064
iVi 4 i’1‘24
112
904
764
100
113
904
79
1024
88
101
106
90
May’10
112
98 4 Sals
• ••••«
»•.«•*
112
80
07 4
984
96 * J’ly’10
• ••*•
97 4
112
97
934 J’ty
964 Aug’10
97
95
96
100
974
974
4
SC Ft S A Mood g 6s.. 1928 M-N
4
K LS
BoutsW So1st See
Cent M-N
g 4sIllinois
bdotis.1989
2d g 4s mo bond otfs...pl989 J - J
Oonsol, gold 4s
1932 J-D
*
81
96
lie
120
105 4
•7
I0648ap’l0
864
J-J
J J
MOto Vai A N K See Nbr A W
••aboard A B g 4s stamped ’do A-O
Coll tr refund g 6s
i9H M-N
Adjustment 5s
AU-Birm 3U-yrlsfc
‘
©1949 F-A
g
4s.eJ.933 M- S
Chur cent 1st Con g 4s...1949 J-J
"
99
814 Stilt
J’ly’io
774 _77%
1004 Decuu
964 984 934 Aug’10
90420
784 7*.
734
Eir snr A so See M K A X
Spuca A G see Ati Coast L
itnern Pacitto CoGold 4s (Cent Pao coli).kl040 J -D
Begistered
/cl 949 J -B
20-year cony 4s
y 1929 M-S
Cent Pao 1st ret gu g 4s 1949 F-A
Begistered
1949 F-A
Mortguar gold34a..kl020 J -B
fet L 1st gu 4s ’64 A-O
G H A S A M AP Ist6s..l931 M-N
Gila VG AN 1stgug6s. 1924 M-N
Hous K A W T 1st g 58.1933 M-N
Through
85 4
86 4
964
814
84
Sale
93
100
100
102
004 Sale
......
91
A A N W 1st gu g os
1941
1st 7s. 1918
1st gold 6s
1920
No of Oat guar g 5s
1938
Ore A Cal 1st guar g os.1927
Bo Pacoi Cat—6s K A F.1912
J *J
A o
J-J
A-O
J •J
A-O
1912 A-O
1937 M-N
1st gold 6s
1st Con guar g 6s
BPaoofN Mex 1st gbs.,1911 J-J
Bo Pao coast 1st gu 4s g.1937 J - J
Tex AN USabBivlat g 6s. 1912 M-S
pen gold 6s
1943 j - j
-
12
00
07 4 bale
064 8al«
7
94
824
994
70
82
91
103
l1
s,
lo4
106
Mar’10
_
Mar
1931 J-J
Toi A O O 1st g 5s
1035
Western Biv 1st g 5s...1936
General gold 6s
1935
Kan A if 1st gu
g 4s....1900
F- A
J-J
A-O
J-D
A-O
Tol PAW 1st gold 4s....1917 J-J
TolStBA WprLieng3 48.1925 J-J
60-year gold 4s
i960 A-o
Oou tar 4s g Ser ▲.*.....1017 F-A
Tor Ham A Bulk 1st g 4s.A1946 J -B
90
04
1064
10*3 4 1064
100
iuu** III”!
loo
81
18
J’ly’io
97
97 4 300
064
904
12
106
89
95
86
00
024 1984
94 4
«74
97
07
87 4
69 4
014
94
1054 Au61»
1044 Sep ’09
10
1084 1964
106 4
....
....
84
102
J’ly 00
1014 May’10
102
Not'09
Mar’io
1034 1064
1004 H04
•IIji*92*" '*084
....
107 4 Jan 00
122 4 ■e.ug’08
110
*>ov’U6
112
Feb’o7
100
J’nc’io
May’07
100
884
Crus
1194H04
W
2d
.....1930 F-A
gold 6s
Debenture senes B
1030 J-J
1st lien equip s fd g 6a..1921 M-8
1st Ben 50 yr g term 48.1954 J - J
1st ref and ext g 4s >...1066 J-J
Bet A CU Ext 1st g 6s.. 1041 J-J
Dos Mom Biv 1st g 4s..1030 J-J
Om Biv 1st g 34s
..1941 A-O
Tol A Oh Biv 1st g 4s... 1941 M- 8
Wab Pitts Term 1st g 4s. 1954 J-B
Trust Co certts..
2U gold 48..
1964 J-B
Trust Co cents
Warren See Del Bao A West
Wash Cent. See Nor Pao
Wash OAW See (southern
....
100
100
West No Car
BB 1st oonsol 4*
1040 M-S
20-year equip e f 6s ...1022 J - J
Wilkes A East See Erie
Wil A bio ax F See 6t P M A M
Wis Cent 60-yr 1st gen 4s 1949 J • J
Telegraph and 'Telephone
Am Teiep A Teleoii tr 4a 1020 J. J
.....1036 M- 8
Teiep let 6s.. 1024 F-A
Y Teiep 1st A gen s f 44s. 39
Pao Tel A Tel ist 6s ......1037
West Union ooi tr our 6S.1938
Fd and re*i est g 44s...i960
Conv 4s, Series A.......1936
2*
101
IZl iSlh Imv
Nov’o0
..**
106
110
100
1144
106
166
1114 Aug’10
114
ill
Nov’08 •*»-JJ. .....
••••••
106*4 iWi
01’* *9*
91
Feb’10
106 V May*lo
1064
106
1044
100 4
604
106% Sep ’Ob
107% Apr’10
109 Aug’10
074 974 Aug’10
106
May’10
1094
•6
70
103
98
iub“
ioTvi^i
100
1164
-
100
109 4
100
8
Mai’10
hep '09
106 4 Nov’04
100 4106
Aug’10
...*..112
Sep *09
89
0iV 03%
87
784
04
89
86*4
102
984
102 4
06
95*4
114*
110*4
02 4
103
86
Sale
100%
00*' ioil
sale
sale
06
06%
03
|
!
HO 4
934 95 :
100
1094
904 094
1U0
90
82
85
63 4 sale
loo 4
*68 * *77*’
6
6
Get *o9
3*o 4
—...
sale
bale
bale
............
.......
96
114
114
1104
02 4
1104
93
tj
L
28
S3
04%
L134 117
1084113%
01
Jau ’09
04
107 4Beo’U9
0S
Noy’08
06
Apr’10
105
94
100
J’ly*10
86
100
00
63
loo
J’ly‘10
83
Bec’uo
hep ’10
ic0
984
084
J’neio
Mar'lo
105
04
17 10/
2 08
86
100
103
00
90
J’ly’10
00
Jan ’10
35
Sep’10
34V
36*«
5
6
5
64
103
81
77
77%
‘ “
107%
■734*1T
4
5
15
88 4 Hay’10
844
85
L07
7i4 Feb’10
731* Apr’10
1OU4Nov’o0
J'ne’10
Mar’lo
Feb’07
02
34
664
105
77
77
04%
0*r*ir
64 4 350
108*4 110‘s lio
85 4
*9*941ST
101
99 ' Aug’10
084101%
102
103 41661 101
06
06V 61
105
84 V
a***
J’neio
J’ue’lo
lo3%
103
......
lSv
ioriipi
Aug’ 10
044 MaPlu
03
Apr’lu
87 AuglO
72
Sep *10
81
Aug’10
00
87 V
167%
102** mr
Oct’06
108 4 Bee’06
107% Bee’00
106 V J’lJ 10
107
Deo’00
105
104
...M*
10641064
106
00
90
33
63V
82
64
1
88 4
624
il
68 4
90%
64V
7$
74%
loj-aiss
004
93
see tioutii
convertible 4s
101
66
112
if1943 Nov
JUy
Wheel’* ABE 1st g 6s...l026 A-O
Wheel Biv 1st gold 6s..1028 J - J
Ex ten A imp gold 6s...1030 F-A
Mich State
....
105V
103
85
1943 A-O
Feb’10
82
864 88
gold 4s..
Income 6s
106
108
1064 Apr’10
1044 105% Mey’10
76
Oct '08
102 J’ly’lb
103
West Maryland 1st g 4s...1052 A-O
Gen do conv g 4s
1962 A-O
Trust Co certfs
W Va Cent A P 1st g 6s 1911 J-J
WestN Y A Pa Istg5s..l937 J-J
Gen
J’ne’06
115V Apr *06
4
Wash Term! 1st gu 6 4s.. 1045 F-A
BupABuidivA term lit 4s’36 M-N
...
......
tbPlstgu 44sl034 J-J
~"
92
116
s, 101
93 I 90
F-A
J •J
Guar rotund 4s
1929 J-P
Begistered...........1929 J-D
Utah A Nor gold 6s..l926 J-J
Ver Vai lnd AW see M. o P
Vlrginia Mid See South By
VaA Southw't 1st gu 68.2003 J-J
1st cons 50-year 6s
1968 A-O
abash 1st gold 6s
1930 m-n
Feb’io
374 Aug 10
J’nelo
M- S
J-B
794
1044
10443^0*08
114 4 Bee *04
©2008
By A Nay oon g 4s.l946
Ore Short Bine lstg6».. 1022
let oonsol g 6a
...1046
724
J’ly’io ,...1104
Apr’10
106
1014
1014
1074
1004 100
1st A ref 4s
ere
934
82
....
00 4
UnPaoBB A 1 gr g 4s ...1947 J-J
Begistered
......1947 J-J
20.yrconv4s
1927 J-J
85
Feu’t
110
1104 Aug’l
67
....
80 4
104 4
100
108 4
W 1st gu 6s ’ JO
86
J’ly’io
1*^9** J’ne’bV*
1064
UO
JA
Biv B B 1st* 6s
W Min W A N
4 -
jLow High
1411934 06V
034 HIV
....*.
•SO
J-D
May’Ol
02
70
Gnar atamped.......l036 M-N ’$6
Tex A N O See So Pao Co
Tex A Pao 1st gold 6s
2000
2d gold ino 5s
©2000
05
160
Sep ’08
02 4 (>ct 00
7l
101
1026 M-8
......1036 M-N
<
i°
108
loo
£8
104
....
106
71
103
UnlN J BB A C Co See Pauli
Utah Central See Bio Gr Wes
UtahANorth See Un Paoaio
Utica A Black B See N Y Cent
I andalia oonsol g 4s ....1065 F-A
IO04 May’10 ...J 1004 1004
’104
84
102
97
103
86
103
1134
1134
964
704 32
1
82 J
Aug’10
Apr'10
103
HO
74
"
864' 86
1074 106
88
85
76y8ale
ldtf
1174
764 824
99
loo4
69 4 764
87
80
01
914
.*..**
SpokaneInternat 1stg5s 1966 J-,
f er A of St.B 1st g 4 4e..l939 A-O
A 1st Con gold 6s*...1894-1944 F-A
Gen refund s 1 g as......1953 J-J
St B M Bge Ter gu g 5s.1030 A-O
10041004
78 -a 85
83 4
1064
1
JUigS No
ask Low
sale 1 04
sate 11064
103
90
1' 814 854
824
9y7«
97
89
88
84
124
1084
914
95
WO A W 1stoygu4s..1024 F-A
Writ NO 1st oon
g 6s..1914 J-J
SAN Ala See BAN
era
86 4 22
Oot’oy!.,
85
104
994 100
604 704
82
904
bl4J’uel0
May’09
1st guar 5s red
106
1933 M-N 104
1034 Aug’10
fi A X C 1st g 6s mtgu.,1937 J - J 110
1104 1084 Aug’10
Consol g 6s mt guar...1912 A-O 1004
1O04-Nov’O0
Gen gold 4s int guar..1921 A-O
93
96 4 | 02
Aug 10
Waco AN VV divlstg 6s’3u M-N 115
122
1104 Mar’lo
Morgan’s La A T
„r
114
16
734
784
1014 Apr’07
1014
1024 106
1926 J-J
....
81V161
116
By 1st con 5s ©1945
Sa A Ala Nolstgugos
1929 J-J
J-J
Beab A Boa 1st 5s.
43
95
i’ou’*
Car A
804
120
105
90
774
Fla Cen A Pen 1st g 6s.i918 J - J
1st land gr ext g 6s ...1930 J -J
Consol gold 5s
1943 J-J
a
89
Apr’10.
88 Aug’10
•74 864
&04
1004 Apr’10
(Paul A Bui see Nor Paoitic
i P Minn A Man See ot Nor
WPANorPao See 2*or Pao
•tP A S’x City see c St P M ao
• AA APasSlstgujg48...1943
• FAN P 1st sink i g 6s.lui9
|av F A West See AU Coast B
1938
Ulster
Bel 1stg 4s
oou g 6s.1062
1928 A-O
J -B
1st A
refund
95
«Gray’s Pt Ter 1 st gu g 6a 1947 J
J*ne’10
10
Last Sale
.1946
'
Hi
Sept 16
WeoHft
110
100
genes D 4-tts.*.—....1921 u
Senes Efis.
General fia
11141124
101
101
Range or
......
1922
KnoxAChlo 1st* 6a... 1025
Mob A Birprsor Hen g 6s 1045
Mortgage gold 4s
1945
I>an oon g 6s....l9l6
BCbSsstamued.
1927
Blch A Meek 1st* 4S...1048
So Oar A Ga 1st g 6s....l0l9
Virginia Mid scr O 6s. ..1016
94
....
C Ft S A M By re? g 4s 1936 A-O
K.C A M BA B 1stgu58.1929 A-O
Oz’rk A ChC 1st gu 5s g.1913 A-O
nen « 6*
Ga Midland
3s.
Pao By 1st g 6s
’ftT* *98*
94
10w!
B T Va A Ga Div g 6s.. 1030
Obn 1st gold 6s.:....... 1056
109
10741074
10341074
s ciu
lensseiaer A Sar See DAB
Bali A JOan see South tty
ItAh A Meek see southern
1 hoGt
West See Beh A Bio Gr
*oh A Pitts See B bap
sme Wat A ofcr See N Y Cent
tttiand See JN Y Cent
Ian Tub A H See Pare Mara
H Jo A Gr isi 1st g 4s...19*7 J-J
tLA Cairo See Mob A Ohio
• LA Iron Mount see M P
ILMBr See T BB A of St B
••LouisA S F—long tfs.1931 J-J
;
Meneral gold 6s
.1931 J - J
•t L A S F BB cons g 4s..’96 J-J
Gen 15-20 yi 5s ......1927 M-N
Sonttrw Civ 1st g 5s..1947 A-O
Refunding g 4s
1951 J-J
4s....1051 J - J
J-J
AU A Danv 1stg
g4s«.i419-‘ "
2d 4s ...........i......W.19<
Atl A Yad 1st g guar 4S.1949 A-O
061A Greeny 1st 6a
1916 J-J
106 4 106
......
uending Co geng«g
1997 J-J
IL Registered............. 1997 J-J
“Jersey Cent coU g 4s. ..1961 A O
m
AJA Cen B 1st Ss.
.....
A St L see Penn uo
Oleve A Tol SOeBJbO
Ft W A Uh ties Penn Co
[Its McKees A Y ties X YOen
itts Sh A B E 1st g 6s...1940 A-O
1st oonsol gold 6s
1943 J • J
Pitt* A West see B A O
St Boms diy 1st
.......
109
Price
Fruior
kux
Southern—ist con g 6s....1094 J - J
Registered
.1994 J - J
Develop A gen 4s BerA.1966 A-O
Mob A Ohio Cdltr* 4s..l»38 M-S
Mem BiV 1stg 44-6s...l996! J-J
91
91
EXCHANGE
8xpt 18
£oPao RB 1st ref 4s......i965 j->
99
May’08
90
—
”
Wees
1104 Jan ’o9.
1094 J’ly’OO
96
Aug’09
......
’
BTodi
Since
January 2
10.|
984 Apt’04
1044 Bd *09
1054 ’’ly io
2d7s
4.1912 J-J)
1044 Ang’10
8d 7s
Oot ’08
41912 A-0 1044
107
Pitts YA Ash 1st oon 6s. 1927 M-N 107
109
May’10
PCC A St Bgu 4 4* A...1040 A-Oj
106-a 1074 Jan *10
Senes B guar
1942 A-O 1044
1034 J’ly’10
Series O guar.,
112 4 J ne’OS
.1942 M-N
Senes D 4s guar
95
4
98
Mar*lO
..1945 M-N
Genes B 84 guar g....l949 F-A
94 J’ly’10
934
Senes F 4s guar ......1963 J-D
954
O St L A P let oon g 6s.l932 A-O 1134
i 12 4 Sep’lO
Pensacola A Atl see L A Nash!
Peo A Bast ties O C C A St Li
PeoA Pek Un 1st g 0S....1921Q-P
112
Feb *10
2u gold 4 4s.......
90 4 Bale
01921 M-N
904
904
Pere Marquette—Bef 4s.. 1965 J-J
764 754 Apr’10
101
01»aW M6s.
101
Aug’10
1921 ;J-D 100
Flint A P M g 6s
1930 A-O 107 4 UO
1114 Apr’10
99
1st consol gold 6s
101
4 lot
Aug’10
.1939 M-N
Pt Huron Div 1st g 5s. 1939 A-O
103 V 101
J’ly’io
SagTus A H 1st gag 4s. 1931 F-A
fldl B A W See. Penn KB
S0
$9
ipprae By 1st so-yr s 14s’37 J
894 J’ly’10
J-J
J-J
J-J
BdlNDN
Range
*1
Nig A No Loro High
97
944
Jan*06
AM Lots
97
loi
108
103
linxt
Record—-Oomiluded—Page 4
M-N
J-J
J-J
M-N
M-N
....105
81
03
104% Feb’10
80 4
924
024 03
024
91
Sale
100 V sale
100
07
93V
924
01
90
100
06
20
77
57
90
15
90
6
08
Aug’10
0?V 68
06V! 30
Sep *10
06
1014
....
04
loiv!
104
103
S7%
894 n
100% 123
....
07 V a*d«
07 V
06 V Salt
06 4
00
004 07 4
94
Sale ,04
1014
81
104
09
Bee’08
00
03 V Sale
104% 104%
Jan'io
J’ue’lO
104
102
loo
sale
100%
99
96%
99
06
99%
07
100%
• 03
974
7 1004 103%
M1MCJCLLANEOU6 BONDA—Concluded.
Manufacturing & Industrial
Mnnntaeturuur
Gen Eleotno deb g 34s..1042 F-A
^10-jrg deb 5s.—*
1017
J
-B)
Int Paper Co 1st eon g bs.lui,- F-A
Consol conv s f g 6s
1935 J-J
it St Pump let s f 6S....1020 t.M-0
okaw steel ist g ©S....1028 A-O
• Enam A stpg 1st 6s.,ls2 * J-B|
I' Air onike tat conv 6s *28 M-N
*steei spgs r$t s f os... 1021 J-J
kub 1 AS ist A oeltr os. 1034
A-O
“
;A P 1st side.. 103o J-J
k.»*. •«•*•• •*
.
J 1 As th Co sf deb g6e.*10]
.
O.yf
80
188
100
82 Jan’io
136
138
1004 100
1004
86
83
844
08
92
92
96
97 Ang’10
96
Sep’to
1014*..... 102 4 1024
97% 984 07 J’ly’u
<**.... 104
104 J’ne’io
93
......
92
May’u,
i......
06
M-Nl 104 4106
S 00
Male
ST
andasked
93, May’io
1044
8
9
..1
....
Si
87
1024
82%
>74
—^
1924
1
16
82
1474
106
804
02
90%
95% 100
04
100
AngR
87
tMsVeek.
82
9 130
14 LOO
07%
114%
06% 064
1034104
03
064
93
064
1044196
*»4 944
86
004
7u IUJ %L044
-
11114.ipf,4
t0«4
944 J846||10iV 105V
6One
Feb
6c Industrial
WCar Cheat let
15-yr 6e 1923 J-D
Weeonghouee E A Met6a *31 J-J
hueeiiaaaoEa
Adame Ex eot tr g«e
1948 M-g
armour ACo 1 street eat 4 4s’80 J-B
Bush Terminal ist 4s.....1062 A-O
Oonsol 6s
1066 J-J
ClaeJpA t Yardeoig6S.1016 J-J
oet M A M Id gr incomes.. 1011 A-O
ins tit for ICrig Was A 4s 1043 M-N
int Meroan Marine 4 4s..1022 A-O
tut Navtgatiou lets f 6s. 1020 F-A
J-J
F-A
M-N
proyident Lean soo 44*. 1021 M-0
Yuri Wat Co eea * 0s..l92^ J-J
994
094
89V
92%
02% hale
......
......
684
...»«*
r
4-
d-Bne Apr eHue
96
......
-.
J’ae’lt
MeTK
Aag’10
074 Mar’io
634
034
78
79
Dee *09
.
014
•
014J’ly’ 0
Mario
90
95
m
s
WeehWater Pew lri 6a.. 1030 J-J
034
Aug'D’
08
100
86
08
*......
Sep’lO
97
49
......
92
88
85
65
'■*
8"lS
02%
80
054195
78
994
804
J’ly’09
ryy*
19
101
Aug’
May ©Bee J’ne h Duei%r kbue Aug oDue oefi pbue Nev *6*
104
108
•
•*•¥
CHICAGO STOCK EXCHANGE-Stock
Record-Daily, Weekly and Yearly
STOCKS—HIOHEST AND LOWEST SALE PRICES
Saturday
Monday
Sept 10
Tuesday
Sept 12
Wednesday
Sept 13
Sept 14
180
180
*212
180
*2*2
*6
65
•6
*65
65
14
*7
14'l
4*4
*41*
414
•23
*67
•18
*60
*16
25
75
20
62
20
*23
*67
*18
*60
*16
60
*....
•57
*014
471*
47**l
8
67*4
7812
109
*240
*128
*76
*108
8
5
4*8
4*||
*23
25
76
20
62
20
60
60
10
60
*67
*17
*60*2
•16
*.—
*58
57U
10
*9*2
*47
4712
77*
67
250
130
12*4
*4
25
75
20
571*
•9I4
471*
10
70
ii*4
*7
4*4
4*4
4*4
*6
65
13
*7
4
67*2
8
4
Last Sale 23
Last Sal*
Last Sale
62
20
60
60
10
*9*2
*47
50
t
8
67*2
250
130
78
♦240
♦128
*76
109
♦108
109
*108
35
*32
*63
*48
*1
*2
6414
50
l"
86
119
•118
•143
148
*143
60*g
*43
46
•....
35
64*4
*1
85*2 35*2
119
*118
148
144
111*2 1H*4
88
6078
69*2
60*2
*59*2
58
67*4
58
98*4
98
677a
*43
106*8
88
88
46
114
120
120
120
•97*2
98*2
121
*120
*119
121
121
106*2 106*4
114
•119
121
120
107
114*2
120
122
120
107*2
•152
156
•102
103
t;7g
*162
*102
67*
•
16
6*4
*
166
103
*154
*102
6*4
16
155
103
67g
155
*
Last Sale
165
*101
7
"85
70
226
40
45
25
166
107*8
8
Last Sale 7*4
Last Sale 15
16
’966
157*2 *157*4
119*2 Sept'lO
101
101*8
‘7 51
Apr’OO
June'lO
MoCrum-Dowell Co..loo
Do
pref..
Mllw A Chic Brewing....
Do pref....
........
National Biscuit..... 100
Do
pref
100
National Carbon —.100
Do
pref
—.100
People's Gas LACoke.100
...
Do
rights
Sears-Roebuck com..100
Do
pref
-.100
....
Sept’lO]
8
Tempie—*—
Do rights...
Do
pref
100
2,03* Unit Box Bd A P Co.100
Do prel......
100
Western
Chicago Bond Record
Stoue
100
truer
Pries
*e1
Friday
Sept. 16.
Sit.
Amer Strawb'd 1st 6s.1911
Armour A Co 4 ns...1939
Aurora EiglnAChic 5.1941
Cal A So Chic Ry Co
1st M 5s
1927
Cass Av A K G (St U 5s 12
Ohio Board of Trade *sl927
Chicago City Ky 5s...1927
Chic Consoi Br
A Mlt 6s...
Consoi Trac 4 +s 1939
Auditorium 1st&sl929
Dock Co 1st 43—1920
Jc HR 1st M g 58.1945
No Shore Elec 6s. 1912
Pne Tod 1st 5s.al921
Chic Ry Se
1927
Chic Rys 4-Ss series “A‘
Ohio Rys 4-5* series ”B"
Chic Rys 4-5s seriss “C
Chic Rys coll 6s
1913
Chic Rys Fund 6s..1913
Chic Rys Tern Ctfs 1st 5s
Ohio R 1 A P RR 4s —2002
Collat trust g 5s...1913
Chic Telephone 5s....1923
Chic
Chic
Chic
Ohio
Chic
Ohio
Commonw-Edison
5s. 1943
Chic Edison deb 6s. 1913
1st g 5s....July 1926
F
J
A
-
-
-
F
J
J
F
J
J
F
A
M
-
-
-
-
-
A
J
-
P
-
A
-
-
J
F
F
F
-
•
-
Week’s
102
IOH4
100
id2t» Sale
D
A
O
b
O
J
A
U
D
A
A
A
O
b
b
-
D
s
j
85
88
96** Sale
75
97‘
76*2
9U
98
101*2
100** Sale
....
wStcTONtoSeOo6 SiZIl
•
-+■
-
28
101*8 103*4
17
J’ne’io
84*4
96
88
75
90*2 91
97*2 101*8
98
’94*4
tide
--Z
93"
98*2
....
95
96
....
9T>|
....
....
161*4 idi«»
100*4 Sale
92
....
*M
63
93
100*4
75”
60
'je’itddrd
to
98
100*8 103*4
100*4 102*?
100 <4 100)4
rue'10
100
100*2
10b"
102*4
94*4
94*4
uecOb
94*4 July'10
7»
16
78
86
101*2
101*2
100*8
IOOS4
LO0I4 Aug’10
100*8 Aug'10
32*4
76*2
87*4
101*8
95*8
100*8 1003*
96
Men'09
75
Fea’lo
98*a Meh'10
ISIS4 May’09
101*2 10t>t
103 July' lo
100*4 100*4
101*2
101*t
92
100*4
75" 85"
98
80
76
88
84
80
93*4
r r
92*2
96*4
96*8
66*2
97
98*2
97
9812
100*4 103*4
103
104*2
100*4 102*?
101*2 101*2
92
94
100*4
100
M
Apr'l-i
88
114
Nov’04
Apr* 10
June’lO
7o
fo
65
65
70
65
Apr
.
6*4 Aug 16
39
_
Msy31
65*4 J'ly 6
7 J’ly 28
J’ly
40
-
,
5
a.L
78
72
23
66
47
17
63
60
J'nea
72*2 J ne22
64*8 Jau
Dec
Jan
69
25
73
61
Dec
64'
108
Deo
Nov
-an
jan
Fob
97
Jan
13*2 J*n
29*4 Jan
52 J’ly
86*2 May
19*2 Dec
29*4 Apr
Jan
104
.6
Jan
Jan
30
16*8 Stp
J’ne
J ne^4
4
16
119*2 J*iy
45*4 Jan
8*4 Dec
90 Dee
77*, Mch >0
25
J’ne-i
6«j, J'l»30
62*2 J’ly 26
Apr .6
18*b Jan 10
82
250
135
240
1-6
72
107
J’ly 19
Feb
May
May
May
Deo
i
J’ne
J’ne
tf
6
39*4 Jan
101
139
4
1
'26*7 JV 26
47
Aug 26
J’ly 27
Jan -6
J’ly 9
Apr 7
J’ly 26
J'ly 26
IttiT’Mcttlo] Il7
53
431? Men v
40
Mcb 17
J’ne .a
101
118
Aug 3
J'ly 19
115
125
Jan
7
Jan 18
104
112
103
Feu 24
Feb 10
J’ly 26
122
121
Sep 14
148
Feb
166*2 Apr i4
115*4 Jan
Jan 8
Feb *9
186
J'ne.i
y
J’ly lt»
5*4 Apr 28
106
6
101
15
J
ne
100*2
Jan
119
Jan
Sep
25*V Aug
88*2 May
130*4 Aug
88*2 Deo
47
Sep
Jan
21
j’ne
119*4 Sep
Sep
130
108*2 Deo
124
NOV
HP's Aug
1
Mch
169*2 Deo
12184 oot
114*4 Aug
16‘2
Deo
May-6
Jan
o
153g Jan
3
Feb
1
Mch
Feb
-2/r Apr
w
121*2 fir
20
Nov
97 ig Jan
Feb
118*4
82
jau
110
Jan
102
Jan
l2 Fen
55
oan
101
Jan
MchoO
Deo
Jau
Jan
Mch 14
212 Nov
152’OcV
38
43
7
122
Apr
Jan*
Mch 2.
lU05g
Apr
1
42
140
17*8 Feb
70*4 Men
93
7
£8
Jan
Jan
Jan
/fr*2 D«0
Mcb
117
60n$ May2u
102*4 Apr 20
H6i2 Aug 8
101
Sep 16
165
J’ly 27
-Deo
0
.an
46
jan
40
107
Jan 13
8
Feb 28
22*4 Jan
82
*27
91
5
May
J’ne
Jan
127
121*2 Jan 11
Jan
1
»4 May
20
142
/
Aug
*s J ae
Apr
*‘8 Apr
Feb A
Jan 3
J’ly
81** Deo
112 Sep
145
Nov
1
137
83
132
Feb
61*4
6lavi7
2
225*4 Oct
Jan
43
110
108'*
1*4
13*2
9*4
Jan
10
t>
4
Jan
Feb 17
Feb 4
74
66
80
64*8 Apr
}ty*s Mch
Aug 11
Feb
200
126
Jan 11
112
15*4 Nov
S’ ne
71*4 Jkn
May u
Apr 4
84*i Maylc
7
Aug 6
13114 J’ly 30
31
66
47
77« Jan
Jan
;«5*a4ulym
ail Cmcago b ond
Outstand¬
Surplus
ing
and
93*e Jan
*5
Deo
105
1*8 Mch
9*2 Jan
Mch
26
Stock
Profits
t
Contl’tal & Comm Nat.
Corn Exchange Natloua
U rex el State
Drovers' Dep National
First National..
First Nat Englewood
Foreman Bros B k’g Co.
Fort Dearborn National
Hibernian B k’g Ass'o..
La Salle St National
Live Stock Excb’ge Nat
Monroe National
Nat Bank of Republic..
...
National City
National Produce
North Avenue State
North side State Sav'gs
North West State.....
People's Stk Vda State-.
Prairie National......
Prairie State—
...
rta'lway
100?8
88
In
1908
7«
1909
40,3‘Ji
6190,09b
6
2204,053
500,OOu
10
20,000,000 9,6.2,319
H
J.000,00b 6.437,074
6
200,000
*22,0.0
399.499
600,000
200,000
S31,81o
6
10,000,000 LO,836.5*9
12
19- ,3 77
150,000
10
1,000,000
525.372
Pnv
8
383.692
1,600,000
950.43 »
1,600,000
8
2l26,l-»C
200,OOU
10
1.000.000
251.586 Beg. 0
490,626 iO+2
1,250,000
65.108
4
300,00a
8
2,000,000 1,214 618
404.524
3
1,500,000
83.064
250,000
200,00b
#73.141
2H
50,000
S22.60u
6
1
1
200,000
300,000
,
South Chicago Savings,
south Side State......
State Bank of Chicago.,
stock Yards Savings...
250,000
500,000
250,000
300,000
200,000
200.000
1,500,000
250,000
Union Bank of Chicago.
Wendell state.—
Central Trot Oo of Ill
Chicago Sav Bk & Tr_—
MetropoUtan'TrustASav
Northern Trust Oo
North-Western TTASav
Pullman Trust A Savgs.
SheMdan Tr A Sav Bask
u> Standard Tr A
Say.....
Stockmen’s Trust A S*v
Union Trust Cow
o West’n TTOt A Savings
West Side TrASUtBadk
vVobdUwnTr Am9 Bad*
10
An
J-J
12
Q-j”
9
10
6
Vis
10
ate Ba
8
8
10
1^. M
10
4
8
6
8
6
18.498
S93.55u
62,310
‘T
80,077
23.268
£169,421
87.000
*4.000
1,742,907
186,241
#43,024
£7,419
872.807
116,352
None
1H
6
J,260,000
.000,000
200,000
200,000
3,000,000
Q-J
Q-J
Q-M
Q-M
nk
%
Dee
09, 6
TO. 6
Kdy
*10. 2*a
TO, 4
ly TO Us
Oct
Oct
a
July TO 21f
July TO, 11*
juue3oT0,8v
30*10,2*1
jne
J-J
'IQ-M
Q-l
Q-J
y
-
July 10,2
luly TO, 2
July TO, 5
V.90, p.1277
'ne 30TO
2*|
Aug. TO.l
Oct.10 10, 2
Q-J iuly 10, l*j
Q-J July
Q-J July
Q-J J ly
Q-J Oct.
Q-i J> iy
Q-j“
TO, 1**
TO, 1*4
TO, H*
TO, 1
'10. 2**
ineVoToTl*
'08.2
,uiy ‘10,11*
Jan
QQ j ly TO, 2
Beg. b us Sep l 09 V. 89, p. 817
11
12
Q-J J ly TO, 3
7
8
Q-M iuneaoTO. 2
6
6
M N vlay TO, 3
6
None Q-M Dec3108.11*
7 ’
7
Q-J iuly TO. 2
1H
4
Q-J iuly TO. H*
6
6
Q-J Oct. TO, 2
4
8+2
A-O .4 prO,
TO. 3
luly TO. 21*
Q-J
~
8
U
*10.654 laeorp orated
6
1.456.828
9>»
8,444,429 16+4 16+4
6
69*
*52,440
6
*36,287
4H
12
5,840.079
12
750.000
Q-J
July" To"i"*
Q-J
Oct, TO,
1908
Q-J
4
QJ
Q*>
QQ-J
Q-J
11*
JiinettOTO, 1
v.87,p.1138
July’ 10. 3
Aug ’10. 1
J iy 'W. Mi
i uly '10. l»f
July TO, 8
July TO, 11*
July TO, S
luly TO. 8
tuly '10,1
6
6
t
221,455
8
8
2.827,738
6
J-o
200.000
S3L704
6
8
8
500,000
9 V
200,000
Beg b ua JT»V
80,0.141
1,000,000
Comm sliced bus. SeptOWlO
i
5
j-j July TO, 3
200,000
1.200,000 £1,162*681
8
*8+2 i 4-M JulytkTOJM
6 1
1,600,000
6
QnI
300,000
lU!in,*#
960,000
T Q*J July TO.
£44,844 I*
1,600,000
.
,
Last Paid
—Jmm
Q-J
Q-J
6
2,600,OOu 3,113.260
200,000
u-j
Q-M
2
200,000
50,000
2,000, OOU
n500,000
Chicago Title A Trust,
6,000,000 /1,54J^0^
citizens Trust A Savings
4
50,000
*6.992
Ootonla' 'Trust A Savings
600,000
454.136 8+2
Coat A Comm Tr A Sav. 3,000,000
427.839
Drovers'trust ASavlage
200.000
116.219
FarweU Trot Co
1,600,000
S191.03J
First Trust A Savings..
Guarantee Trot A Sav.
Hartls Trust A Saving*.
Illinois Trot a savings
Kenwood Trust A Savgt
Lake View TrustASavis
Merchants* LoaaATruo
6
Per1od
1
J
Exchange...,
aeourity
Oivtaent. R&cara
>*•
.
.
prices.
Bid sndasked prises; U® *W*s weib
\
outdoou thls day. f
tNe prtee Friday: latsst pHes this wsek, « Due Dm. SI. S Dus June, k
wMh entranhymeuts 4PF. v lsAddUlbn the
AMd_20^_ta
«tn*k,
n Capital aodjubftejs U) be
eouVWtlwktvof 4% mol^eame from
FtiOt^rustABsvlroBemk. 4 July^lWO. tin
from P*rst Trust A Savings Bank,
v Prairie Nau Bank and Western Trust A
Sav. Bank to be merged and capital of latter to bo tasroTOd Oo
* IS See V* 91,
p. 72. 17.
» Extra dividend,
v June 30 1910.
s July 1 1910.
.
V7's Dec
8-J
Dec
10** Dec
8
Dec
•
Feb
190
Oct
6
-
Feb 17
Jan 14
Feb
Mch
1*2 Oct
Jan
Jan
16 Jan lv
9*s Ja-
Juay.4
2*|» J 80 29
20 Aug b
.....
May 05
32*8
821?
77*4 8ept'lo
89*4 Sept’10
94*4
9414
99
Apr* 10
9V7g
9278
100*8 Mch’09
9612 M«h' 10
97
National..,..
Chicago City
..
loo&j Aug'oy
100
7o
Calumet
Kasper State Bank....
Feb'06
100*s Ap.' lo
66*2 Aug'08
66*? July'08
8u
109
36
3
69
16
51
15
93
180
7*2 Jan
Mav.o
8
Mch 7
3*2 Jan *6
J’ly-8
Sep 14
11*4 Seo 13
r
.
75^8 Aug‘10
VO*2 '*eu *0
98
AUg’10
98 July’lO
100
-
•
High
U9«4 j9*4
90*4 94U
Apr *09
Jan'OJ
85*2 Aug’111
96*4
97*4
88
Co 5s
1913 ft-N
Knick’b'ker Ice 1st 5s 1928 A - O
Lake St El—1st 5s... 1928 J
J
Income 5s...——.1926 Feb
Metr W Wde El—
r
1st 41............1938 F - A
Extension g 4s—1938 J - J
J - J
orth West El l*t 4s. 1911 J - S
o W G-L A Coke Oo 5s 28
M
Ogden Gas Ss.......1945
N
Pearsons-Taft 5s
1916 J - U
4.408 ...——
A - b
4.60s Series E......—. M- N
4.80s Seriss F.—...... M - N
Peo Gas LAC 1st 68.1943 4-0
Refunding g 5s.,..1947 M- b
Chic Gas LAC 1st 591937 J - J
Oonsum Gas fit 5s, 1936 J -D
Mut'l Fuel Gas Ist5sl947 A - N
South Side Elev 4 Ht. 19**4 4 - J
Swift A 091st g 6s-..191* J - J
Union El (Loop) 5s.. 1945 A - 0
Union PadHMoonv 4s. 1911 d-N
United Bon Board obi 6r 2C
j - J
O
909 4
Wet* 4-Aecreed Infttnwt nwt
Low
94*2 Dee’09
87
NAME
Englewood State......
ApF04
96*4
b
D
102*2
103
50
J'ne’O»
Oet'09
May *07
103
Range
for
Year 1910
91*4 Aug ’10
J
D
A
J
tids
Sold
High No
9J*4 Mch’l»
A
■A J dj A ♦1*t -
f‘“orris A Co. 4 H..—1939 *
Last
or
Sals
As4 Lou
A
D
O
m:‘n
Debenture 6s—192<*
Commonw Elect 5801943
Illinois Tunnel 5s
.1928 J
Kan City Ry A Light
Rang*
Highest
Chicago Banks and Trust Companies
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Sept. 16.
185
28
...
Swift A Co
....100
89 The Quaker Oats Co—100
166
Last Sale 6*4
June’lO
Last Sal* 102*2
8*4
16
Masonic
Aug'10
57*4
57*4
*150
102
7*4
88
60
Last Sale 11-16 Mch’09
167
157
156*2 167U 157*4 157*4 16744 158
•II8I2 120 *118*2 120 •118*2 120 *117
118
1021* 102*2 102 102*8 101*8 1017a 101*2 101*8
Do pref............
Cal A Chic Cana* a D.ldo
Chic Brew'g A Mait'g....
276 Chic Pneumatic Tod. 100
6 Chicago Telephone ...100
Do
rights..
"270 Chto Title A Trust
106
288 Commonw th-Edison. 100
Do
rights
—
Corn Proa Ret Go 00m
Do
uo
prei
167 Diamond Match
...loo
351 Illinois Brick
100
35*4
100*4
A Co—..100
pref.....
100
Fisheries com....
Dojpret.*,.
97
98
Last Sale 2*8
June’07
Last Sale 20
Nov'09
*114
116
120
120
*122
125
*120
122
21
113*2 U4
106*2
58
95
111*2
112
1*6
Feb'10
14*8 Sept'lO
79*4
Apr* 10
60*2
Telep A Teleg.—
Do
Booth
119
Feb'08
148 I
88
58
Amer
Booth tA>
Apr* 10
147
88
2*1*
"'25
Nov’09
^
Last Sale 45
98
625 American Can
100
Do
pretf
.100
American Radiator.. 100
Do
pref.. ....... 100
915 Amer Shipbuilding...loo
Do
pref
100
450
JulyTO
f*118
Last Sal* 2*4
Last Sale
Last Sale
Last Sal*
88
*112
*119
120
*119
106*8 *106
•119
112
8
66*4
Sept'09
Last Sale 1
Last Sale 2*2
35
147
112
607t
114
120
121
120
•119
*120
iir
144
Th
66*4
Lowest
Miscellaneous
i
35*4 36*4
118*2 118*2
119
9*4
Jly
1*2
4
65
93 >outb Side Elevated..100
20 stteete W Stable O L.10o
26
Do
pref......... 100
Last Sale 109
Aug* 10
*134
135
Last Sale
June’09
Last Sale
June'09
Last Sal*
Aug'10
*60
62
Last Sale 47
Aug’10
i*
*2
58
74
35
62
50
*48
50
•:::: vr •mi vr *!"'
•112
*32
60
juiyio
June’10
Last Sale 248
Last Sal* 126
78
109
88
68I2
57*4
98*4 *....
•
V
1111* 1111*
881*
601*
64U
50
351* 36*2
*118
•1111* 113
881*
*32
*63
*48
*1
•2
35
62
9*8
DAY
250
130
1347* 1347* *134*4 13512 *134*4 135*2 *134*4 135*2
•82
*63
*48
*1
*2
•35
July'10
Sept'lO
EXCH.
CLOSED.
ELECTION
67*2
*240
•128
4*.
58
Highest
Meh
195
prat' ,—..-..100
150 Jhto Rye part ctf "l"...
251 Chic Rys part ctf *2"*,.
Chic Rys part ctf
*230 4^ hie Rys part ctf
286 Chicago Subway..... 100
Kaos City By A Lt-.lOO
Do
pref ......... 100
detropc* W 8 Kiev—100
Do
prof
ekeesa* 100
Northwestern E»ev
10u
Do
prel
..100
Sept’lO
Last Sale 16
Last Sal* 65
(1909)
Lowest
Do
6
62
rtanye for Pretiouj Yeas
EXCHANGE
Chicago City Hy
loo
Chicago A Oak Park.. 100
134|
*4*g
Range for Year 1910
CHICAGO STOCK
Ka.roads
JulyTO
4
20
*68
250
130
78
13*4
Last Sale 9
26
75
*---.
67*t
Sept 18
4*8
*23
*67
*18
*61
*16
8
67*4
14
STOCKS
Week
Shares
Last Sal* 185
Mch'lOi
Last Sale 1*2
JulyTO
Last Sale 4
JulyTO
65
65
65
41*
Friday
Sept lb
*2*2
*6
*65
14
8
*7
Thursday
180
*2*2
70
12*4
8
5
*31*
8
67
•240
•128
*76
•108
*
Sates
of the
lnMe*ssd.^j^Pl
fsaeaere:
Weekly and Yearly
BOSTON STOCK EXCHANGE-Stock Record, Daily,
Tu Slav
Wednesday
Mo
Sept. 12.
Sept. 13.
Sept. 14
*974 97*4
*99*4 100*4
*97*4 98
*99*2 100*
984 987g
*99*4 100*4
*984 9878
*99*4 100*4
c ast
Week
Friday
Sept 16
Thursday
Sept 15
Saturday
Sep!. 10.
kailroidt
220
*219
*126
*207
*219
126
*207
1264
—
*.... 135
*-... 290
....
....
Ill
♦109
....
*205
....
*205
81*4
....
*205
18
82
82
18
*81*2 82
152*2 163
152*2 152*4 153
*..— 140 *.
140
*10212
*103
*163
....
*1044
1034 103*2
1634 1634 164
....
....
*894
90*2
mmmm
*87*4
*1004
m
88
m
mm-
■
1004 100*2
*434 444
102*2 102*2
♦434
5
*__._
16*2
102*2 1024
*4*4
6*2
117
117
*117
1344 13478
*27
284 *28
05
954 96*2
*9
*9*2 10*2
*19*2 20
19*2
*412
6
*44
♦145*2 147 *145
9
94
9*8
257*2 257*2 257*2
142
142 *142*4
814 814
81*s
*914 92
914
*219
05*2
10
*100
13012
*93
44*2
*43
*43
119
117*2
135*4 135*4
1175a
117
117
10
430
....
15*2
11712
117
....
62
6
....
*15
117
117
n73g
134*4
Last Sale 28
Sept’10
9534
9534
9534 96*4
Last Sale 10
Sept* IQ
3
Apr
*
Feb 10
J’ly 1
Apr -8
2o
103
Al'iy
Aug 18
98*4 Aug 2
153*4 J’ly *6
8tf*4 J’ly 26
162
87
103% Jan
J’ly 27
98*4 Mch *.
96*2
109
J'ne o
J’ne 0
127U J’ly 20
20
j’ly 1
01
J iy 1
7 Men 18
16
Mayio
*145
150
9
94
*145
9
28
*12 '
102
*294
*29
1994
49*8
274
68
116
*144
83
««
43
63*4
25*2
1634
*6
*.50
114Jaa 3
J’lyl4
1604Jau 0
844 Mayib
’
*13*8
6
*19
58
550
*16
*....
*6684
.69
*.60
.60
*^50
.60
1334
6*4
19*2
*13*4
1384
13*2
13*2
67a
*13*4
55ft
19*2
13*2
6
6
19
19
58
58*4
550
548
18
*16
.10
*.07
66
66
6
6
68
550
18
.12
66
*6
6*4
7*4
*.25
....
*1012
11
31
31
6*8
678
♦21
17*4
20
20*4
*2
65s
*3*2
34*2
*10
*7
*.40
*.45
6>’8
4
35*4
10*2
7*4
....
.50
*185s
4*2
1878
48
48*4
20*2
6*4
10*4
2878
20*4
5*2
1034
28*4
9*8
*5
*.25
4*2
9*8
rn'mrnm
7
*.20
10*2
65g
678
21*4
.
lilo
*55
6
*35*2
38*2
48*4
*3*2
23*2
10
2
51*2
8*2
1U2
67
123
7*2
7*2
7*2
.30
.30
11
*.20
11
7
33
.25
7
33
33
67g
21*2
67g
21*2
21
2 3-16 2*2
18
18*?
17
21
22
65g
6*4
*3*2
35*2
36*4
10
*7
*.40
*.45
18*2
4*8
*47*2
203g
5*4
11
2884
*9*4
5*2
*1*2
10
7*2
.50
18lo
37*2
mmmm
72*4
18
6*2
36*4
38R
3834
39
40
49
49
334
23*2
3*2
2334
40*2
*2*2
*7*2
3*4
23*4
8
123
15g
123
U*
46* r
3*4
8
123
il2J
6*4
33
67«
21
2*4
18*4
22*2
dog
3»4
35*2
10*2
7*2
.60
18&g
4*8
U*
9*4
17*
50*2
8*4
11U
1*2
10
17«
61*2
85ft
11*2
57
*6
67
38*4
48*4
3*2
39
49
23
23
47
*
♦406s
*2*4
*7*2
122
lAi
85ft
■
3*4
8
122
3412
10*4
*7
*.40
*.45
185s
*5
11
285g
93g
*5*2
18*2
3*2
534
5*8
65ft
3*4
34*)»
10*2
5*4
11
28*4
9*4
5*2
6
.30
.30
*35
125
*13
74
18
2
*1*4
60*2
48*4
8*8
1U4
10
85ft
11*2
58
010
38*2
36*4
3834
49
49
3*2
23*4
46*8
3*2
2334
4634
3
3
8
1*4
6*4
16
11
60*2
85«
11*2
*122
33
2*4
17*4
215ft
27*2
9*4
5*2
*1*2
*7*2
10*2
33
20
29*2
9*8
1*2
10*4
36
6*4
7
.20
10*2
612
21
11
1*2
*97g
*1*4
6I2
7
♦
2*4
20*4
6*4
334
32*4
10*4
6'g
67g
20*2
2*4
16*4
20*4
o*a
334
33
123
1*4
*57
6
*
.
125
74
18
1*4
10
I7g
49
85ft
11*4
58
6
36*2
38
49
38
49
*3*4
23*4
35«
23*4
46*2
46
3
Last Sale
122
122*2
*2*2
♦1*2
5*4
11*8
27*4
6*4
11*8
27
87g
9
5*2
5*2
.30
371?
1*4
35*2
127
*13
*73
Bos6sCorbCop6sSllMg
65g 3,680 Butte-Balaklava Cop.
410 Butte Coalition
I8*a
406 Calumet 6s Arizona..
59
25 Calumet 6s Heda_...
555
10 Centennial
17
.Till tr'lO
7*4
.20
11
7
33
-
....
160
13
6*4
183g
*10
10t2
7
7
7
7
Last Sale .40
Sept* 10
.45
.50 * .45
.50
.45
19
18*2
18*2
18*2 187ft
*4
*4
434
4*4
434
47
46
48
47*4 4734
20
£20
207ft
20*2 2034
*.25
*36
37*2
127
127
13
13
*73*2 75
18
18*4
bciarepay t masses* ts caueu ui 1909.
2*4
85*4
10*4
7*2
*57
6*al
36*4
634
35
205g
6
10*2
65s
2012
65g
205ft
10*4
293ft
9*2
11*8
21*8
*6*4
3*2
40
6 7r
7*4
.20
22*8
6*2
31ft
*4
48
.30
.30
*36
37*4
128
128
*13
73
73
18
18
68
6*2
3*8
*10
7
*.40
*.45
178
2*8
51*2
8*4
11*2
11*2
21*2
6*2
*3*2
35*4
*18*2
4*8
48
*47*2
205g
20*2
6*2
578
11
10*4
29*8
28**
10
9*2
6*2
*5*2
*178
*56
2*8
17
43g
10
*8*2
634
21
4
10
51
33
67g
17*2
*2
1034
684
634
34
6*4
36*2
*234
*7
7*4
.25
11
_
Dfi
*1*2
*9*4
*178
49*4
8*2
.
5*4
Sept’10
19
19*2
59
59
58*4 58*4
68
69*2
60*2
*643
550
555
*545
555
550
550
16
16
*16
*15*4
18
*16
.10
Last Sale .10
*.06
Aug’10
*.06
.10
66
68
66*2
6512
67*4 67*2
66*2 67*4
5
5*4
5*4
67g
6*2
578
67*
578
7*4
21*3
2*4
17*4
*.30
35*2 351- *36
128
128
♦128
*13
*13*2 15
*7284 74
7234
18
♦17~8 1838
.
558
18*2
6
Tsmt Sale
*32
678
22
2**>
18
6
19
Last Sale .60
13
13*4 13*4
10
15
10
25
25
Cons Mercur Gold
1
721 Copper Range Con Co 100
675 Daly-West--..
20
Co mi a steel Corp
376 Bast Butte Cop Min.. 10
450 Kim River
.....
12
719 Franklin
25
4,098 Giroux Consolidated5
182 Granby Consolidated. 100
2,260 Greene Cananea
20
25
26
990
163
54
Hancock Consolidated
Helvetia Copper..
Indiana Mining......
isle Royale Copper..
Kerr Lake..
Keweenaw Copper
Lake Copper Co
La Salle Copper.....
Mass Consol
.Mayflower
Mexico Cons M 6s S..
...
Miami Copper
Michigan
Johawk.
2,345
Nevada Consolidated.
5
460
770
4,955
7,532
830
155
1,865
356
365
550
...
480 New Arcadian Copper
692 Nipisslng Mines
* Bui anuasked prices.
....
4 New stock.
e
FeD 17
Sep lu
J’iy 12
6*4 J’ly 13
.20
Sep 15
94 J'neou
6
20
J’ly 26
J’ly 0
64 J’ly 29
1434 J'»y 19
3
o
18
94
Jan
Jan
t
3
10
68
Feb
Feb
1
90*4 Jan
40*2 Jan
3
478 Oct
3
3
3
Jan lo
0
4Mcb28
68
J’ly 12
10
5
25
25
25
5
25
10
10
25
25
25
51
50
10
25
2
22
.40
.80
17
3?8
43
174
9*4
18
64
5
.25
29*2
114
12
60
Aug Ju
J’ly 10
J iy 18
J’ly i2
J’iy2t>
J’ly &
J’ly 13
Jan 17
Jne^O
J’lv 13
Sep “
Aug
J 'ne 15
J’ly 27
J’ly 6
J’iy
16*4 J’ly
14 J ne3i,
8*4 J ’iy ~
14 J’ne3u
36
J’ly 19
74 J’ly 14
9
J’ly
45*2 J’ne 2
4*4 J’ly is
33
MchOl
334
45*4
24
184
J’ly 20
J'ly 2v
J iy 22
J’ne30
A3 9*4 J ’ UO 30
2*2 J’ly 22
6
j’ly 13
102 J’iy lL
1*4 J’ly 26
34
35
170
71
Deo
NOV
Deo
131
19
06
Oot
Deo
Deo
Oct
31*4 Sep
047g Oot
10*2 May
62 Oot
904 Nov
40*2 Deo
Deo
54
51*4 Deo
18
so
24
86*4 Nov
74 Feb
164 Apr
24 Jan
10
Aug
12*4 Nov
110*2 Dee
144 Nov
Oct
Feb
74 J’ne
F'eb
F'eb
90
9
8*4 Sep
5*2 Dec
Jan 14
224
7*2
2*2
16
Apr
Apr
Mav
Jan
10*4 J’*y
4*4 Mch
12
Dee
74 Aug
33*4 Feb
0*8 Auc
c7*4 Deo
74*4 Deo
10*8 Deo
18*4 May
Apr
1
Apr
F'eb
0
3
47
Dec
257g Mch 7
1234 Jan 14
13.} Feb 1
.40
Jan
Jan
7
4
84 Jan 21
75 Jan 22
274 Jan 11
lO^sJan 12
12
May2&
50
55
166
Jan
Jan
Jan
.30
Oct
J'ly
Feb
Nov
Oct
4*2 Mch
534 Nov
J ne
47*4 Feb
122
Feb
Mch
38
3*2
12*4
534
*574
16*2
3*2
078
6
20
Auv
444 Sep
Jan
68*2 F ab
74 May
1
13
87g Jan 22
l's Jan 13
Jan
May
Deo
11*4 Deo
334 Nov
110
Jan
.35
6
6*4 Jan 14
19
1144 Aug
695
Jan
11
Aug
Sep
Feb
J ne
29
JO
Jan 12
36
Oct
21*8 Feb
96*4 May
685
F'eb
13*4 Jan 3
24 Feb 13
224 Mch
124 Jan 10
ill*4 Jan 3
IDs Jan 3
044Jan 22
9
J’ly 23
4!o Moll 8
174 J’ly
8
Sep
Jan
184 J’ly 15
2.5
25
25
2
10
Feb
45
3
3
.10
85
Jan
Feb
Mch
38»g F'eb
30
F'eb
8
J *y
24*4 Jan 13
18*4 May25
284 Jan 3
103
Jan 3
Jan
Jan
Mch
34
65
23
Sep
139
108
100
12
F’eb
76
Mch 2 s
685
38
3*4 Oct
Oct
125
Oct
118
04 Jan
53*4 Jan
50*4 Jan
124 Jan 14
.70
F'eb
Jan
107
2d
5
25
...
15 South Utah M 6s S
2*8
49*2 2.405 Superior
270
Superlords Boston Min
8*8
548 SupenordsPitts Copp.
11*2
10 Tamarack
*57
68
6
214 Trinity
5*2
100 UulteaStatesCoaldfcOU
36*e
*35*2
38*4
38*4 1,457 U S Smelt Ref 6s Min.
655
Do
49
49
pref
385 Utah-Apex Mining...
35g
*314
23
252 Utah Consolidated-..
23
156 Utah Copper Co.....
*45
45*2
3
50 Victoria
3
8
Winona
.......
Sept’10
120
62 Wolverine.....
♦117
110 Wyandot ..........
ih
1»Z
47*4
8*4
1U2
J’ly 6
13*2 J’ly 16
.04 J’ly
00*4 Jan
1254 Jan
25
25
150
200
169 Old Dominion
87 Osceola
1 Parrot Sliver
14 Ouincy
*17g
44*4 J’ly 12
509
4
5h Jan 4
4434 Mch 0
284 Jan J
Id
25
Ojlbway Mining..... 25
25
Old Colony
3,168 North Butt?
708 North Lake
May 4
5^8 Sep 14
10
16»« Jneau
68
5
58
0
Jau
J'ne li
J'ly is
184 May 3
a;6
Sep l
3
J’ly 7
Co---- 25
25
6s Cop. 10
25
75
18*4 1,310 Ray Consol Copper-. 10
1*4 2,050 Santa Fe Gold 6s Cop. 10
790 Shannon
10
10
36
127
18*8
*112
5
10
Sep
71*.| Apr 18
31
Jan
Apr
Jan
034 Jan
Jan
100
20*0 May
.24*4 Jau
126I2 Jan
x54
Mch
28*2 Jau
41*4 F'eb
May 6
2t0
2
76
168
Jan 5
Feb li
124 Aug l
10934 Jan 10
34 *4 J an
3,
1
Jan
404 Aug
J’ne
124 Sep
314 Aug
8*4 Oct
1474 Nov
13'8 J’ne
260
Apr
173 Aug
83*4 Deo
07
Apr
220*4 Deo
108
1264 Jan
138*2 Mch 11
31
50
89
Apr
Apr
145*8 Sep
Jan
68
93
Jan 3
Jan 11
100
200
22*2 Nov
136
131
Jan
202*2 Men
Men is
124
115
50*4 Aug
150*8 Feb
2204 Feb 2
6*4 May 10
_
*.50
245
Apr
J iy
105
0/8 F’eb
412 Apr
15*4 Apr
3*4 Apr
125 Jan
7
Jan
yj
160
07
Feb
93*« Jan
8*2 Jan 11
....
.60
274
Apr
08*8 Apr
112
”125*4 Feb
152*-Mch
....
....
-
Jan
175
Nov
Nov
,114
>117
143*8 Feb 24
30*2 Mch 1
104*4 Mch23
114 Jan 7
——
....
Feb U
Mch
218*4 Aug
117*4 Aug
33*4 Jan
94 Jan
54 Jan
13
Jan
127*8 Mch 1
124
Oct
102
Aug
Sep
200*8 Jan
40
J’no
1174 Aug
107
Aug
034 Mch
105 Jau
88
Jau
Mch
24
Dec
1744 J’no
f1727* Feb
3
«7s Feb il
4*8 Aug 2
J’iy 15
14
115
115
Nov
Feb
Apr
00*4 Mch
97*2 Apr
48?s Jan 10
104
jan
lli4 Jan
Jan 17
Mch *
Feb 10
168
Apr
140
215
162
123
275
136
100
Oct
58*2
Feb
77*2 Nov
14*2 Mch
Jau
Jan
H56
140
200
190
26
Moh N
Jan
55*4 Oct
J’ne
J’ly
Mch
Feb
Deo
88*:- Sep
195*4 Jan
Oct
19
Nov
84
Nov
79
196
May3»
Apr 14
Apr .
-
30
—
Apr L9
Jao li
Men -c
:oo
Jan 7
35
Jan 3
110 Jan i
106
Mch
204U Jan
8
Apr 2i
May *
J’ly 6
99
3
212
,
301
22
128*2 Nov
Jan
/5
*4 Aug 25
14
125*8 Oct
106
J’ne
230*4 Apr
135
Deo
235
Mch
153
NOV
Jau
143
115
267
Jan
Mch lb
112
83
201
20
88
1624
.
16034
#
Jan
7
7
3
Jan
Jan
Jan 10
1334 Jan
J’ly 19
2
Apr
270
1394 Mch 11
210
Mavl
181*4 Sep 14
Northern N H
10*.
Norwich 6s Wor pret.lOo
Old Colony.......
too
Rutland pref..
10i,
Seattle Electric
100
Do
pref....
too
Union Pacific
too
Do
pref
.....10o
Vermont 6s Mass
100
W est End St
50
Do
pref......... 50
...IlAtl Gulf 6s W I S S L.100
Do
581
pref
100
Boston Land........ 10
20
20
20
20
Last Sale 5
Last S’fe 14412
Apr *
Mch
L
Feb -4
Feb 1
Jan 2i
Jan 3
10
48
150
113
1414 J’ly 16
25 Amer Pneu Service... 50
Do
pref......... 50
618
245 Amer Sugar Refln____100
Do
pref
too
171
2,884 Amer Telep 6s Teles..100
American Woolen....too
Do
pref
too
428
117
76
Sep 16
76
149
100
Miscellaneous
505 Amer Agrlcul Chem._100
Do
too
pref..
271
4412
103
47g
15*2
134*4 135*2 134*4
29
96
10
20
6
150
9
....
104
102*2
478
103
*434
5
15*2
Aug’10
163
June’10
*87
88
103
6
20
5
J’ly -1
44 J’ly 28
July*10*
Cumb Telep 6s Teleg.100 138 -2 J’ly 28
Aug’10
74 Apr A 4
834 1,375 East Boston Land
*8*2
9
8*2
9*4
2o
100 ;23‘J Ja
160 Edison E’ec IPum
256
257
257*2 257*2 257*a 257 25712 256 256
135
J’ly -6
100
3 General Electric
143
*142
144
*142
*143
14414
144*2 *1434
76*4 Feb 8
821 vi assaefi usetts GasCos 100
81
81
81*2
81*8
81
81*a
814 814
81*2
89
May L0
Do if pref
81
...100 214*4
92
9U2 915s *91*2
91*2 9158
91*4 914 9l7g
Jan 4
100
31 Mergen thaler Lino
220
220 *21634 21712
220
220
*219
*219
2*4
Jan 3
2 Mextca.n Telephone.. 10
6
5
*5*4
684
6*4
*5*4
6*4
*5*4
5*4
5*4
*6*4
108
Aug 5
N E Cotton Yarn....100
110
Last
Sale
Sept’10
♦1103s
.... ♦110*4
.... *1104
994 Aug 3
Do
34
pref
......100
105
*102
*102
105
105"
*102
102
102
*102
105
17
04 N E Telephone
..100 12^4 Aug
130
13012 *130 131
1304 1304 131 131 *130 1314 130
Men ^2
04
Pacific Coast Power.. 100
Last Sale 95
Aug’10
96
*93
96
*924 90
*93
96
303 Pullman Co
100 153 J’neau
1604 160*4
1604 161
10O*4| 1604 100*4 1604 160*4 1604 161
11*4 Jaa 15
Reece Button-Hole., lu
Last Sale 124 Sept’10
124
121
*12
124 *12
124 *12
10U
Jan 24
6s
Co......
825
Swift
.100
101*4
101*8
1014
102
1024 1024 102*8 1014 1021m 101*8 10178
28
MchJb
107 Torrlngton.......... 25
*30
31
30
30
30
30
80
30
31
Jan Is
27
40
Do
pref...
....
25
*29
30
30
*29
30
30
30
30
*29
1
1,079 United Fruit
100 105*2
1901
195
1964 1974
199
200
19912J 195 198
46*4 J’ly
536 Un Shoe Mach Corp.. 25
494 49*4
49
49
494 491d 49*8 494
25*4
J’ly
108
Do
pref_.
25
28
28
28
28
28
28
28
28
274
91*8 J’ly 2b
15,828 U S Stew Corp
100 111
68
684
684 69
69*sj 684 704 674 684
J’ly2u
69
Do
pref
..100
116*8 116*8
116
1101 *1164 117
116*3 117
116
Feb l i
14
West Telep 6s Teleg._10C
Last Sale
*144 16
16
*144 16*2f *144 10
Aug 15
81
10
Do
pref
100
*83
85
*83
85
83
85
*83
85
*83
Mining
J’ly 13
120 Adventure Con
25 314 J’ly
6
8
*6
7
7
6
6*2
6
6*2
13
242 Aiiouet..
25
42
*41
43
*41
43
42
42
*40*2
42
43*2 43*2
554 J’ly 12
,712 Amalgamated Copper 100
62*8
63
1
64
64*4
62*4
63*8
64*2
64*4
63*2
6334 64*4
19*2 J’ly 26
2,560 Am Zinc Lead 6s Sm.. 25
26
26
26
26
26*4
26*8
2578
26
25*4 26*4
26*4
36
J iy 13
Anaconda
26
Auer* 10
Last Sale 40
12*4 May 4
17
1,120
Arizona
25
Commercial.
17
16*2
16*2
17
16*4
17
17
17*8 17*2
17*4
J ne3u
5
100 Atlantic
25
7
7
*6*4
7
6*4
7
6*4
7
*6
*6*4
*6
5o Mch v
Bonanza Dev Go.... 10
150
....
*5*4
*11038
118
117
2
....
*100
pref
136*4 Jan
221
152
.
98
Jan
100*4 Jan
Jan
1244 Jan
223*2 Dec
132*2 Jan
Sep
295
11*4 Jau
004 Jan
10
May
46*2 Dec
225
Jan lo
234
298
16
202
635 N Y N H 6s Hartford-100
151*8
♦164*8 164*8
92
Sept’10
....
16*2
13434 135*2
*28
28*2 *28
95*4
95*2 95*4
*8*2
*912 10*2
19*2
19*2 19*2
*4*2
*44
6 ^
29
19*2
6 “
434
15*4
118
117
117
....
.Do
7
Aug .'9
85
Do
pref
100
Maine Central....
10«*
Mass Electric C03....IO0
o
J ne -u
J’ne 16
Mob
...
115
27
27
103
*101
444 45
102*4 103
44
44
117*4
1164 1174
134-4 1354
....
-
87
87
102*2 103
*434
6*4
16*4 16*8
16
16
117
•
166*8 1663g
*90*4 91*4
100*4 100*:; *100*2
44
44
•
•
105
*103
83
*.
....
*103*2
....
82
*181*4
*27
Last Sale
*102
104
164
165*8
Last Sale
Last Sale
*87
88
*100
....
mmmm
-
88
88
....
105
10
1234 Jan
104*4 Jan
Sep 14
....
....
....
30
*27
....
72
April* 10
140
140
Last Sale 210 June’10
140
J’neiO
Aug 2
J’ly 7
t|1^-«,
Sept’10
150*4
181*4 182*2 *181*4 183
....
....
Aug’10
8
9i4
26
974 Aug 2
100
pref,
Highest
Lowest
-
Top 6s Santa Fe. 100
100 218
i§ lioston 6s Albany
.100 *1*2
170 Boston Kievated.
10o 2OJ
28 Boston 6s Lowell
33 Boston 6s Maine.....100 133
Boston 6s Providence.too *29*
14
Boston Suburban El Cos.
7o
Do
prel..
10
8
Boston 6s Wore Elec Cos.
35
JJo
pref
50 Ohio Juno Ry 6b USY.10U 139
Do
is ref...
100 ilO
Connecticut River
100 265
2(? Fitchburg. pref
.100 124
20 Ga Ry 6s Electrio__._100 104
210
*133
292
15
*71
150*2
£150
152*2 153
163*2 165*4
*90*4 91*4
907*
*897g
mmmm
*182
*27
*104
*103
127
81*2 *81*2
81*2
82
*138
184
*27
....
82
219
126*2
Do
38
Aug’10
139
139
'mmmm
Last Sale 111
Aug’10
Mch’10
Last Sale 270
125
*.._. 125
125
111
111
♦1103s 111
86
86
Last Sale 204
May* 10
Last Sale 17*4 Sept’10
18'
*17*4
*17*4
1824 1824 *182
*205
....
219
*
210
133
133
Last Sale
Last Sale
*70
74
Last Sale
Last Sale
74
10
37
140
....
*162
*27
*
mmmm
18
81*4
12612 126*2
15*8
.
219
219
125*2 125* *124*2 1254 *1244 125
*110*2 1124 1104 1104
*85*2 86*2
*1244 125*2
*174
....
1344 134*2
74
10
37
219
126
207
133
290
219
219
219
126
*126
207
*207
133
*.... 134
*
*.... 290
*13
15*8 *13
*70
*70
74
*....
10 *_
*35
*35
37
*140
*
111
....
*.... 290
*13
164
72
72
*....
10
*35
37
*140
*___. Ill
164
*70
*..._
*35
*140
*....
220
126
210
151 Atch
96*4
97*2
Last ScUe 100*4 Aug’10
98*2
98*2
Previous Yeas
(1909)
Highest
Lowest
Shares
Range for
1
Range Since Jan.
STOCKS
BOSTON STOCK
EXCHANGE
Salt*
SHARE PRICES—HOT PER CENTUM PRICES
Deo
Nov
28*8 Dee
13*4 Moh
704 Jan
Nov
84 Deo
30
13
Sep
85*4 Jan
117g Aug
144 Deo
.00
50
170
Doc
Aug
Deo
Dec
Dec
364 J’ne
14 Nov
13*2 Feb
27g Jan
177* Jan
Jan
13*8 Nov
67
Jan 12
104 Jau lo
127| Apr
78
62
2134 Jan
92
Mch 0
2434 Mch t
2*4 Jan 2
18
Jan
3*4 Jan 10
0SI4 Jan 14
18
Jan
11*8 Jan 3
4034 Feb 15
10
83
34
J iy
0*4 Dec
28 Jan
Feb
3
39
44
4
604 Jan 3
5*4 Jan 14
3
Oct
55
Jan
534 Jan
54 Jan
46
15
-50
Jan
Jan 14
Jan
3*4 Jan
3
«ian
Oot
37*4 Feb
30*4 Feb
4*4 Apr
130
2
Mch
00
Jan
Dee
184 May
18*2 J'ly
00
Feb
174 Jaa
39*2 Nov
60
Sep
64
Oot
6*4 Jan
40*4 Nov
66 Nov
0
Dee
<>134 Deo
1 AM
Anl
Oct
ass’* paid, b Ex-stock oiv. n Ex rvguts, a ExsUv. a**arights
Sept. 17
1910.]
Boston Bond Record
U«# A Ml*
BOSTON STOCK KXOH'GE
Wm KMuiitfi sept Id
,
price
Wee**
Friday
Sept 16
Utu
Range
Range
Since
Jaw ary
or
Laet sale
As Jahv
ASK Jjote
high
Am AgrioulChem lat 5a.. 1928 A-O 101
Hale 101
101%
Am TeleuA lei von tr 4a. 1929 j.j
89%
Sale
89%
89%
Convertible 4s
1938 M- 8
100% 101
100% 100 %.
Am Writ Pauer 1st a i 5s a 1919 J . j
87% sale
87%
h7%!
Am Zinc LAS deb 6h.... 19U M-N 106
sale
105% 106 I
Am Com Cop 1st conv 6s 192o jd
91
92
91
91 W
Aten Top A is Fegeng 4a..1995 A-O,
98% 99% 98 Sep ’10
J*ly 1995 Nov
Adjustment k 4a
90%
90% 92
90%
Stamped
J’ly 1995 M-N!
90% 92
94% Mar'io,
60-year oonv 4s
1955 J-D
102% J’ly’10
10-year oonv 5s
1917 j-D
|117% Feb’10
Atl GuU A W 1S3 Lines 5s.’69 j - j
j
.....I
65%
66%
Boston Elect L ouuaoi os.1924 M-S
110
Feb'04
Boston A Lowell 48
1916 J - J;
100% Mar’09
Boston Cb Maine 4Him
1944 J-J
104 % Oct '08
Boston Tenmuai Isi3%a.l047 F-A
112% Jan’03
Bur A Mo liiv cons 6s
.1918 J - J
103
Feb’lOl
Butte A Boston 1st 6s
1917 A-O
100
J’ne’011
Butte ElecAPow 1stg58.1951 j-D
100 I
'
Cedar Ray A Mo It 1st 7s.l0i6 M-N
113% Mav’10
Cent Vermt 1st g4s..Mayl920 o-F,
87%
i 87 % Sep *10,
O B A u Iowa l)iv 1st 6S.1919 A-O
1)103 Oct *07
Iowa £>1V 1st 4s
1919 A-O
* 98%J’ne’10
Debenture 6s
1913 M-N
-—-101%
Mar’lO1
Denver Exten4s
1922 F-A
99*4
99%
99%!
Nebraska Ex ten 4s
1927 M-N
99
Mai’10\
B A 8 W 8 t 4S
1921 M-S
99
Oct ’09
Illinois Div 3 %s
1949 J - J ,
87% Sep '10
Ohio jo Ky A 8tk Yus 6s.1916- j-J !
100%100%10U%
i»»o%;
Coll trust refunding g 481940 A-O
1 90% Aug’10
Ob MU A Sit* Dub D 6s.. 192U J-J
115%
Jan’10
Ob M A St P Wis V <llV 681920 J-J
120
Feb ’05
Obit A No Mien 1st gu 6s.l03i M-N
99
May’10
Obio A W Mien gen 6s....1921! J -D ibi
Sale 100%
101 |
Concord A Mont oons 4s..1920 J-D
91
Dec’07
Conn A Pass it 1st g 4s... 1943 A-O
112% Jan’03
Cudahy Pack (The) 1st g6s 19 4 M-N 09 100 100% Aug’09
Current Uiver 1st 6s
19 7 A-O
99
Anr’10
DetGrK&pA W 1st 4s... 19*bjA-O
89
Mar’lO
Dominion Coal let s 16s..1940 M-N *98** *93% 96% J’ne’ io
Fitcnbnrg 4s
1916 M-S
103 % Api '06
4s
1927M-S
I 96 Apr’08.
Fremt Elk A Mo V 1st 6s.. 1933 A-O
133
Mar’09
1 140
1933 A-O
Unstamped 1st 6a
Apr’05
Gt Nor OB A <4 ooU tr 4a 1921 J-J
96% Salt I 95%
90%
Range
Sept 16
Illinois steel deben 6a....1913
la Falla A Sioux Cist 7s.. 1917
*
Kan C CUn A 8nr 1st 6s... 1925
Kane Ft S A Gull ext 6s.. 1911
: Kan C Ft Scott A M 6s....1928
Kan C M A B gen 4s
1934
Assented income 5s
1934
Kan C A M By A Br 1st 5sl929
Maine cent cons 1st 7s...1912
JUto
/Mst
AM* Lou
A-O
Range
Since
23
or
IS
.sale
Jtiiga
.vo
January 1
Low
93%
Riga
,
7.IW5T
......
....
*•••
..
...
*
i*00%
......
.
.
...
.
...
.
...
...
ib’6% ibd%
.
.
...
...
.
...
...
'
*
Note—Buyer pays accrued
89
..!i
.
95%
toeetefb
Friday
99%
4
90%
99%
99% 101
A-O
ii
117
Apr’08
4, 99% loo
A O **92*' '*93*
**8%
Mai'10
1
**7% 87%
j-D
99% Feb’lJ
99% 99%
211 97
lo7
M-N 117
Sale
114% 117
7 113
118
91
93%
M- S
91
92 % Aug’10 ....I 02%
03%
98
101%
M-8
01
Sale
91
w|
16
91
02
2
89% 94 *
A-O
101
104
103
Mar’lO
102
103
94
94%!
A-O
113% Nov’Odi
•••••• ••••••
Cons 1st 4s
102% 102%1
1912 A-O
101% Sep ’u5|
117 % 117% Maro Hough A Outlet 68.1925 A-O
115
J’ne’08!
Mass Gas 4 %s
2.| 63
73
1929, j J
98
99
98
08%. 18 97
99%
Ai ten Teleplst 6s
1917IJ- J
97
I 97
Aag’lo
99%
Mlnne Gen Elec con g 6s 19291 j-J
102% Ang’04
New Eng Cot Yarn 5s....1929 F-A
102 I
101%
6
101%
106**
New Eng Teleph 6s
1916 A-O
103
Feb’09
103
6s.
103
1916 A-O
100% sep ’08
New England cons g 5s... 1945'J - J
boston Term 1st 4s
1930 A-O
New River iTho) conv 5s. 1934 J-J
113% 114
77
Apr’10.
77
79%
N Y N H A H von deb 3 %8l956, j - J
85
88
09
Sep’10.
96% 102
Conv deb 6s (ettsj
194S1 J-J 131 136 131 J’ly ’10.
131
135
98% 98 % Old Colony gold 4s
1924 F-A
101
Api’00',
101% 101% Oreg Ry A Nav con g4s.. 1946 J-D
98% Sep ’00
99% 99% Oreg Sb Line 1st g 6s
1922 F-A
113% AugTO
113% 116%
99
99% Pere Marquette deb g 6s.. 1912 J.J
99
Ala.’l l'.
98% 99
Repub Valley 1st s t 6s...1919 J - J 102%...
103% 103%
2 103% 103%
86% 88% Rutland 1st con gen 4 %8.1941 J - J
107% \’ov’06
12 100
Rutland-Canadian 1st 4s 194 9 J - J
101%
102
Mai’02.
89
92% Savannah Elec 1st cons ds. 1962 J-J
...' 78% 78%
78%Apr’lJ
116% 115% Seattle Elec 1st g 5s
1930 F-A 103
195
103%
1 103
H>3%
104%
Shannon-Aru 1st g 6s....D*i9 M-N
03
95
95
88
110
Aug’10'.
99
100% Terre Haute Eieo * 5s....1929 J -J
97
Apt-’07j.
3 10 0
104
Torrington 1st g 5s
1918 M-8
100% Mar’10*. !”
Union Pao HR A1 grg 4s. 1947 J-J
99% Apt’10
99% 100%
/0-yearconv4s
1927 J-J
108% Apr’101.
108% 109%
United Fruit gens f 4%s.l023 J-J
96% 96% 06*,
4
H6%|
96%
96%
l| *99
99
U S Coal A OU 1st 8 f 6s.. 1938 M N 140
160
145
145
160
Sep 10
89
90
U S Steel Corp 10-60 yr 6s. 1963 M-N
103%
1 101% 105%
103%
dale
io3%
96% 98% West End Street Ry 4s....1915 F-A
98% J’ly’iU
97
98%
Gold 4%8
1914 M-S
101% j’oe’OP
Gold <teDenture 4s
1916 M-N
98% Apr’13
98% 99%
Gold 4s..
1917 F-A
97
07
99
Aug’10
Western Teleph A Tel 6s. 1932 J-J
94% 95% 95%
05%
94% 90
16 94% 9'* % Wisconsin Cent 1st gen 4sl949i J-J
94% Jan’lo
94%
168
,
1921 |Q-J!
tiiyti,
me*
BOSTON STOCK EXOH’GE
Week Endino Sept 16
1
9 UK)% .03
.
..
Begiatered4a
&707
misuh
...;!
94%
96%
»4%
interest In addition to the purchase prloe for all Boston Bonds.
*
No price Friday; latest bid and asked.
H Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
&>tmre Price*—Not Per Centum Price*
Saturday
Sept 10
Monday
Sept 12
Tueeday
Sept 13
Wednesday
Sept 14
Thursday
Sept 15
M
O
......
*
19%
•14
19%
88
41
16
19%
40%
*68
60
*87
90
♦126
! *19
40% ♦40
15
*14
127
♦
19
♦
14
127
♦
16
♦14
H
......\
......
,
88
127
itfH*
M
*13%
14%
itiday
Sept 16
|
20
41
14%
,
**4*3% **4*3%
43
♦11%
♦48
26%
43
11%
•
*42%
43
*11%
‘*4*3%
43%
43
11%
11%
48
70%
26%
70%
26% 26%
70% 71
22
22
22
22
00%
77%
00%
21% 22%
00%
00%
77%
77*,
64%
43%
90%
79%
64%
48%
• i1!*
64%
43%
16
15%
18% 18%
69% 69%
•81%. 91%.
43%
♦43%
81%
43%
81%
16
16%
18%
69%
18%
7o
8%
8%
43*, 43%
81% 81%
PUII*ADELPHIA
‘
47%
48
26%
70
70
Preferred v t c
Lit brothers
10
Little Schuylkill
60!
Miuehili A Schuyl 11..60
N Haven iron A steei.5
Northern Central
50'
*4*
15%
18%
15%
15%
18
18%
%
118
i’45”
10%
8%
4
4%
14
16
*61**
108%
60
10
Susqueu iron A Steel..5
Tidewater Steei
r.io
Preierred
10
Union Tr of Ind
loo
United NJ RRAC..IOO
Unit Trao Pitts pref..50
Warwick Iron A Steel. 10
9
West jersey A seaSh.50
Westmoreland CO&L...50
Wilkes Gas A Elec..100
♦
Bid aud
asked;
no sales
41
42
*81%
10
82
70
♦8
°{vJek
American Cement
91
78%
77% 78% 16,5 84
15%
16*,
17%
7o%
241
15%
*17*,
15%
5,972
18
l,13o
6,2 uO
1,U5U
2,144
1,710
8%
42%
Sl% 82
Rid I Ask
Bonds
Prices are alt *' and
interest.”
AltALVKleo i%s’33.F-A
Am Gas A Elec 6s’07. F-A
Am ttys conv 6s 1911.J -D
Bethie Steel 6s 1998.U-F
Choc A Me 1st 5s 1949 J -J
Ch Uk A G gen 6s’19 J-J
Col St Ry 1st con 5s 1932
Con Trao of NJ lst68.’33
E A A 1st M 6s 1920 M-N
Elec A Peo Tr stk tr ctfs
Eq Ii Gas-L 1st g 6s 1928
2,797
64%
8%
42%
PHILADELPHIA
681
63 *,
44
69%fl®i%6
8%
42% 42%
81% 82
1,062
132
Gen
Battery.. 100
Asphalt tr ctis ....100
preftretfs
100
PHILADELPHIA
Rid
90
42
10%
10%
35
63
02%
mmmmmm
on
•
*
mmmmm
••••••,
this day.
Interstate 4s 1943 ..F-A
50
Lehigh Nav 4%s ’14.(J-J
RRs 4s g
1914.(J-F
Gen M 4%s g.l924.U-F
100%
||$l5paid.
14% Dec
28
Jan
3
26
Dec
43
Jan
48
Deo
| Ask
96
6/
49% Deo
12 % J’ly
63% J’ly
33% Deo
84% Deo
16
Apr
33% Maj
125% Deo
Jan
F*b 113
63% Feb
Sep
40% Feu
11% Fob
76% Sep
61% Deo
14% Dec
24% Jan
36 % Apr
59% Feb
6% Jan
50% Jan
86% Sep
7«i6 Mar
84% Mui
95 % Dec
BALTIJIOUE
68% May
Rid f Ask
102
100
09% 100
105
;onsol Gas 5s..1939 J-D
Ctfs indebt 4 %s
J-J
97%
101%}
00
|
United Rys Invlstoolltr
Sf 6s 1926
M-N
U Trac Pit gen 5s ’97 J-J
Welsbaoh s f 5s 1930.J -D
Wlks-B GAE oonds’55J -J
SO
102
83
1U7% 108
91
90%
78
80
95%
80%
’22 J-J
96%
102% 103%
104
104%
108
107
......
89
2d income 5b 1951 M-N
109
41%
41%
5
8%
100
Ala Cons CoaiA Iron. 100
98
106
Atlanta A Charlotte.
Leh V C 1st 5s g ’33..J-J 108
Leh V ext 4s 1st 1948. J -D
2d 7s 1910
M-S
Consol 68 1923
J-D
Annuity 6s
J-D
Gen cons 4s 2003.M-N
96%
Leh V Tran con 4s ’35 J-D
1st series B 5s 1935.M.S
New Con uas os 1948 J -D
Newark Pass con os 1930
NYPh A No 1st4s’39 J-J
income 4s 1939...M-N
NoOhioTrao con5s’10.J-J
Penn Cons 5s 1919
Var 108
Penn A Md Steel con 6s.
Pa A N Y Can 5s ’39. A-O
Con 4s 1939
A-G
Penn Steel 1st 5s ’17 M-N
People's Tr tr certs 4s *43
93%
P Co IstA col tr 6s’49 M S
ConA 001 tr 6s 1951M-N
Phil Eleo gold trust otfs.
10i%
Trust oertifs 4s
75%
P A E gen M 6
’20.
g
A-O
Gen M 4s g 1920.. A AO
11 Ex-rr lits.
Feb
Inactive Stocks
’*94%
37
Mar 48
Deo
Mar 89
May
Jan 1 121% Deo
Feb 28% Leo
Dec
Feb 48
lift
09% 100
220
110
168%
Cons Cot Duck Corp.
3
12
Georgia Sou A Fla..
96%
101
100
2d pref.
3%
1%
Bonus
Prices are all “ and
interest.”
Anacostia A Pot 5s
100
81% 82%
102% 103%
13
T
2%
100%
Senes A ds 1926
J -J
Series B 5s 1926....J-J
Pitt Un Trao 6s 1997.J-J
Poto Vai 1st 5s 1941..J-J
Sav Fla A West 5s’34 A-O
Seab A Roan 6s 1926.J-J
South Bound 1st 6s..A-O
U El LAP 1st 4 %S’29 M-N
Un Ry A El 1st 4s ’49 M-S
Income 4s 1949
J-D
00%
103
01%
93%
102%
Bait Trao 1st 5s.
!
>
76
i
t$12%paiiL
”01% 02’*
r
06
102
105% 106%
i
r
3
$#18% paid.
8#35pai<L
Funding be 1936...J-D
105
02
108
106
110
101%
ioT
00
a
08%
108
70% 71
i*20**
146
”y*8%
40
J’nel7
BALTIMORE
Indianapolis Ry 4s. 1933
I S tg fleet
Lowest
101% 102
UTrac ind gen6s’10.J-J
Un Rys Tr otfs 4s’40J AJ
80%
Signed
Keystone Telephone... 60
bake superior Corp....
100
LehighOANavtrotfs. 60 86 J’ue3o 123 Jan 7
Lehigh Valley
60 62% J’ly *7 121% Marla
Pennsylvania RR
50 6iula j>iy 20 69*16 Mar 9
Philadelp’aCo(Pittsb). 50 42 J’nedu 63%Jan 8
Philadelphia Electric 11. 26$13%t<eb 3 16% Mar 18
Phils Rapid Transit... 50
16 Apr 28 2a%jan 3
Reading
60 65%J’iy2ti 86
Feb la
TonopahMining
1
6%Jan29iieMayi3
Union Traction
60 41% J’ly 26 52% jan 3
United Gas impt
50 79 J’ly2o 95% Jan 10
Portland Ry 1st 5s 1930.
Koch RyA L con 6s ’54J-J
Spanish-Am Xr 6s ’27 J-J
102*
IS
Do
Ph A Read 2d 5s *33.A-O
Con M 7s 1911
J-D
Ex Imp M 4s g ’47.A-O
Terminal 5s g 1941. (J-F
P W A B col tr 4s ’21.J-J
103
j
41% J’ly21 50 Jau 6 44% J’ly
40% J’ly 26 53% Jau to 32% Feb
liWiy^O 12% Jau 14 xio% Jan
42 J’neJO 64% Marll 43 Jan
19% J’ly 20 34%uau29 15** Jan
64 J’iy26 84% .jau to
63
Jan
7 J’ly 6 13 a an iu(
9 % 2 an
15%J’neio 28*4 Jau 3
14% Jan
652 Kleo Storage
1,210
22%
*17%
70
8%
50
125 American KaUways....
60
614 cambna Steel
60
24 Electric Co of Amerioa 10
91
44
Lowest
Ycar(iyoy)
Philadelphia
22%
43%
below)
Baltimore
I
Con. Gas EL L. A Pow.100 46
Mar21 60
May23
30
Do
prel
100 80
Marll 90 J’ly 14 76
3 Northern Central
60115 Jau * 132
Feb 28 100
125 Seaboard (new)*
100 J 8% J’ly 29 27%Jan 6 i 1%
Do
2d pref
100 41 J’iy27 47
Jan
8
22%
United Ry A Electric.. 60 l2%May 3 16
% J’ly 15
u%
91
43%
see
i
70
8%
22%
64*,
Stocks
Shares
Range ior Previous
Jan 1
..
■
Welsbaoh Co...-....**.100
||
8%
43%
70
City 1st 5s g ’19.M-N
BergA KBr w 1st 6s’21 J -J
8
108
Railways General
8%
43
82
26
ACTIVE STOCKS
(ior Ronds and Inactive
18%
43%
41% 42
11% *11% 11%
47%' 47% 48
26
♦25% 26%
Atl
19%
Preierred
100
Phila Co (Pitts)
pref...60
Phil German A Norris.60
Phila Traction
60
44*,
70i*i. 7i».e
II
North
Pennsylvania..50
Pennsyi RR receipts....
Pennsylvania Salt
60
Pennsylvania
eel.. 100
22%
♦90%
78
64%
44%
!'
Keys) one WatchCase.100
Leh Vail Tran v t o.
23
64%
Ask
47%
22%
64%
Bid
42%
*69%
44
8l*x« 81*1.
43*, 43%
81% 81%
42%
*11%
7u%
78%
71
*4*3%
27
90% 90%
78% *0%
64%. 64Wi.
16%
18V
•42%
26%
70
91
80
70
Indiana Union Tr.... 100
Insurance Co of N A.. 10
Inter Sm Pow A Chem.50
Keystone Telephone ..50
43%
*11% 11%
47% 47%
26%
inactive stuck*
Amai Asbestos Corp. 100
Preferred
100
Ameucan Milling
10
Amer Pipe Mig
..100
Bell Telephone (Pa). 100
Cambria Iron
60
Central Coal A Coke. 100
Consol Trac of N J...100
Easton Con Electric 6.60
n’t Wayne AW V
100
Germautown Pass
60
♦*42% *4*3%
43%
49
48
♦18
♦43
mm
43%
43
43
11%
man
Range Since
Sales
Va Mid 2d ser 6s ’ll.M-S
3d senes 6s 1916..M-S
4th ser 3-4-5s 1921. M-S
5th series 5s 1926. M-S
Va (State) 3s new ’32.J-J
Fund debt 2-3s 1991.J -J
West N C con 6s 1914 J -J
Wes Va CA P 1st 6g*l 1 J-J
WU A Weld 5s..1935.J-J
1U4
lu5
105
106%
100
105
104
106%
80
88%
84%
59%
82%
100%
104
84%
69%
83
104
•♦•♦♦•
105
*•»•••
S6
85
««••••
••
103
100% 106%
105
110
94%
Reoeipts. 6 #25 paid. o$30 paid, d$42% paid.
fVoL.
708
Volume of jBusiness at Stock Exchanges
cM'SZ'fWZSS’cxu
Gr*t West Pew
*46.J-j
Bid
caico
Kings Co E LAP Co 100
122
*84
4d
5s
im.HM kU<id JitJOk UN-CHA-NUt
DULY. WEEKLY A fl> YEARLY
TKAWHAOl tOiSiAl
Slocks.
Week ending
217,450
435,250
408,492
449,307
378, 15
.......
....
Total
Week ending Sept.
Sales at
New York Slock
Exchange.
Par value
Bank shares, par
Bonds.
Bonds
$641,000
$46,600
1,760,600
2,023,000
1,633,000
107,000
49.000
131,000
108,500
86,000
$10,645,QOOl
$526,000
$.073,500
2,494,000
16.
$5,000
972,000
23.187.000
$311,200
84,5 ad.950
420.968,000
$ll,l71,500j
$24,164,OOOt
$455,833.1501
$500
HR, and mlsc. bonds.
....
THE BOSTON AND
EXCHANGES
DAILY TRANSACTIONS AT
Week ending
Unlisted
shares
Listed
Sept. 16 1910.
shares
Saturday...........
Monday............
Tuesday
Wednesday.........
...........
Thursday
Friday
..........
............
Total
4,352
6,725
13,784
6,619
9,994
9,309
60,783
$983,207,000
e
Listed
Unlisted
sales.
shares.
shares.
13,832
461
4,200
7,237
6,961
9,307
6,5v3
53,7o6
$313,000
4 >,542
3l,7l9i
All
bond
prices
are
Bid
Ask
10
100
16
50
115
J J
98
140
100
EXC
102
1st
105
St reel tfai'ways
New York ULy
Bleeck St A Fu F stk. 100
1st mtge 4s 1950 ..J-J
B’y A 7th Ave stk
2d mtge 5« 1914
Con 5s 1943—See Stocn
B’way Sur> 1st 59 gu 192*
Cent*] Cro-st'n «tk
loo
1st mtge 6s 1922..M-N 1 80
Lb
Ocn Pk N A E R stk _.10u
80
Chr't’r A 10th Ststk-.ioo
Col A 9th Ave 5s See Stock Exc
6U
95
1st gold 5s 1932 ...J-D
Scrip 5s 1914
F-A 1 30
Eighth Avenue stock.lOu 260
p-i / 9a
Scrip 6s 1914
42d A Gr St F’y stk ..10u 200
Rapid Tran St Ry_.100
78
bb
26
Gu g 5s 1953
M S
No H ua Oc Ry 6s 14 J-J
5s 1928..
..J-J
M-N
Ext 5s 1924
97
Brooklyn City Stock.. 10 152
Con 5s—S*e stk ttxch ange
97
Bkln Hgt' 1st 5s 1941 A-O
Brk C A N 5s 1939.J-J
Nassau Elec pref...
100
5s 1944
...A-o
1st 4s 1951—See Stock
N Wbg & Flat 1st ex 4 Mis
«•
Preferred
10o
Gen 48 1934—See Stock
e
*»•
1st
iDt
Ust
180
16
Unit Rys San Fran See Stk
Wash Ry A El Co....100
Preferred
_10o
4s 1951
J-i:
130
85
92
'1st
80
86
oO
215
102
75
102
102
160
80
95
Exc
100
1st
105
ist
92
106
Other Cities
Buffalo Street Ry—
1st consol 5s 1931._F-A
103
103
105
• 05
98
Deb 6s 1917
A-O
Columbus <0> St Ry__10o
Preferred
.loo 102"
Colum Ry oon 5s—Sec Ph a Ust
02’
Crosst'wn 1st 5s *33 Jl-U Inn
c Conn Ry & Ltg com. 100
13%
4%
80
78
-f Preferred
100
»st
1st A ref « Hs—'Soo Stk
81
87 i
Grand Rapids Ry prof .100
t
106
itm
e Louisv St as 1930.. _J-j
lu4i
10584
Lynn A Bos 1 it 8a *24 J- D
.4
• New Or* H*fi A Lgt.TOh
68% 59' 1
1st!
ik rJ
Pub Se>rv Gorp of N J.foo no
Tr ctfs 2 % Yo
ltto
f*:Vc
New York
Cent Un Gets 5s 1927 _J-j
Con Gas (N Y»—See Stk
100
e Mutual Cas
New Amsterdam Gas—
let consol 5s 1948..J
NY AERUas 1st 5s *44 J J
Consol 5s 1945
J-d
N Y A Richmond Gas. 10
N Y A WestcbesterL bt’g—
Deb g 5s 1954 guar.J-j
Nor Un 1st 5s 1927..M-:\
e Standard Gas oom__10u
e Preferred
loo
1st 53 1 930
M-N
Other dues
Am Gas A Elec com
50
Preferred
5o
Amer Light A Tract.. 100
loo
Preferred
Bay State Gas
50
Blhgh ton (N Yi Gas Wks
1st g 6s 1938
A-O
Brooklyn Un Gas—SeeStk
Buffalo City Gas stk
lOo
1st 5s 1947—See Stock
Con Gas ot N J 58 *36.J-J
Consumers' L H A Pow
5s 1938
J-D
Denver Gas A Elec
lOu
Gen g 5s 1949 op M-N
Elizabeth Gas Lt Co__10o
Essex A Hudson Gas. 100
Gas A El Bergen Co
loo
* Gr
Rap 1st 5s T5.F-A
Hudson Co Gas
100
Indiana Lighting Oo-.lOo
4s 1958 op
...F-A
1st o
10
33
69
Madison Gas 6s T028.A-O
Newark Gas 6s 1944._Q-J
Newark Consol Gas-.10c
eOoo g 5s 1948...J-i
No Hudson L H A Pow—
76
0 Baste,
c
riells
an 5ta.
19?7.
itx., out not very active
951*
j6'
9834
99I4
97
100
u/i2
lOOij
96
96
98>2
98
99
x->l
100
96*4 s>7l
97%
973g J.'l
loo 100%
96%
99%
.100
101
list
156
98
100
95
4U
100
103
»9
56
97
98
60
75
102
101
100
*44
*JJ
287
101
44'
41
.90
103
%
94
Exc
4
Exc
90
110
166
90
list
5
list
95
69
92
132
76
98
102
127
97
103
110
56
66
85
90
30
*21
Mortgage Bond Go__„loo
110
..
...
Preferred
10
Deo g 6s 1939
M-N
Amer Writing Paper.. 100
98
98
Preferred
100
1st s f g 5s *19 op ‘09 J-J
A IGf AWlndSSL nes.100
Preferred
100
Col tr g 5s 1959
J
25
2
...
87%
8%
19
65%
120
102
105
list
..
^
101
134
35
66
85
921;
00
102
107
”99'
104
Preferred ...
...too
British Col Copper...
Butte Coalition Mining 15
Casein Co of Am oom.100
Prelerred
lOo
102
30
LIO
1st
121
122
245
113
105
5*4
18%
*18
2U
2
65
125
123
2
10
Casualty Co ot Amer.^ 100
Celluio'd Co
...100
Cent Fireworks com..100
Preferred
__.__tOo
Central Foundry..^^.lou
Preferred
100
Deb 6s 1919 op *01-M-N 7 35
Chcsebrough Mfg Co..100 700
60
City Investing C0.-...IO0
preferred
...100 105
95
3 Claflln (H B> com..100
slst preferred-.—-loo
87
...
e 3d preferred .-a—IOo
08
Col A Hock Goat Al pf TOO MkeOrm
lit g
1 50
/ 45
Col tr 6s
Consol Car Heatlhg...100
88
.
f Fiat pnoe.
OcVl5S8!lfj
n
Nommai.
a
-in I
a
5u
92
96,
nniy.
70
60
41
••••
.5
100
lOu
13s
(Bklyn).Ida
115
li<8
Royal Bale Powd com.ldu
Preferred*
10J
Safety Car Heat A Lt. loo
Seneca Min ng
25
Singer Mfg Co
100
South Iron A S com _.loo
116
Standard Cordage
lOo
1st M g 5s '31 red.A-O
Trenton Potteries com 100
Preferred, new
Trow
Directory..
118
260
20%
so*
US$
36
80
05
5
102
11%
2%
48
91
4J%
list
60
80
05
142
104
20
195
106
123
125
♦
loo
Prelerred
1%
lih
67
100
100
Underwood Typew pf 100
Union Typewriter com loo
1st preferred
100
2d preferred ...... 100
Uu'ted Bk Note Corp. 60
Preferred
60
United Cigar Mfrs
lOo
e Preferred
.....loo
......
U S Steel Corporation—
Col tr s f 5s '51 opt 'll
Col tr s f 5s *51 not opt
U S Tit Gu A Indem._10O
•Utah Copper Co—See Stk
•
84%
.40 j
270 j
145 j
40 I
Exc
70
1Q5
37»3
'OS*
5n
Stk
100
United Copper...
..100
Preferred
100
U S Casualty
100
U S Envelope com... 100
Preierred .........100
U S Finishing .......100
Preferred .........loo
1st g ms 1919
J-J
Con ; 6s 1029.... .J-J
.
90
100
93
lOu
GO
140
125
4
30
115
200
112
2
44
88
*23
67
*512
52
80
10$
112
146
*1%
lo
lOu
100
Adjust M 5s Apr 1 1931
Standard Coupler com loo
215
Preferred
luo
6%
Standard Milling Co-.lOO
407
Pre erred
loo
42
1st 5s 1930
_A1 N
104
100
98% Standard Oil of N J
Swift A Co—•See Boat Stk
3
1st
5s—S-e
Chic
stock
27
Texas Company
88
100
• Texas A Pacific Coal 100
10
Title Ins Co oi N Y...100
l %
1
Tonupah Min (Nevada)
67
20
100
Preferred
100
Betb"m Steel Corp—-See s tk Ex
Bliss Company 00m.. 50
Preferred
5o 118
Bond A Mtge Guar... 100 235
Borden's Cond Mllk-.lOu
112
OS
1%
10o
Produoeni Oil
Realty Assoc
-
♦
Wnitnsy prei.lOo
Preferred...
Pratt A
.* -
Barney A Smith Car
^
Brewing
Prelerred
Plttsnurgn Coai—See
Pone Mlg Co 00m
225
103
38
Copper Co.
Pittsburgh
121
*4%
st
187
Nat Bank of Cuba
10
108
Nat*! Surety
lOu ^60
Nevada Corn'd Copper
.*1 lift
Nev-Utab Min A Srn. lu •ll16
New Central Coai
2»*
^0
NY Air Brake 60—See Stu Exc
Y Biscuit 6$ l911_M-ft 100
New York Dock
100
25
e Preierred
lOu
75
N Y Mtge A Security. 100
195
Y Transportation.. 2o
*4
Niles-Bem-Poud com tOu
97
*11
N1 pissing Mines
u
Ontario S’lver
Otis Elevator com
Preferred
155
401
donongahela R Coal..
Preierred
Jiuo
01
190
125
...
300
131
*8
Sou 5s Apr 1
American Thread pref
a
Am Tobacco Co com..lOt
Ainer Typefders oom.100
106
2f%
82*4
50
19a0—S99 Stock
EXCu inge
net
Nat Rys of Mexico—See S t Exc Ust
North’u Securities Stubs.
105
95
Pitts Bess A L E
50 *32
34
50
Prelerred
74
*70
# Railroad Securities Co—
i U C stk tr ctfs ser A 52
90
,-»eaboard Company—
1st preferred
400
76
74
Com A 2d prei—See Bal t Exc list
Seaboard Air Line—
Coll 5s ext May 'll.M-S
99%
West Pac.lst 5s '33
95
M-S
94
Preferred
100 loO
Am Graphophone com 100
Preferred
100
"l6" ’
Amer Hardware
100 117
Am M<mg 6s 1914
J-D
99
Amer Press Assoc'n
100 100
Am St Found new—See s tk Ex
6s 1935..
A-O
99
Deb 43 1 928
F-A
65
American Surety
50 205
98
230
xdO
J30
80
85
4%
industrial and Miscel
Adams Exp g 4s 1947 J-D / 89
Anmeeit Mining..
25 *185
Alliance Realty
100 120
American Book
too 160
American Brass..
lOu
110
American Chicle com.lOu
220
llo
100
20*4
IU
,
6
4%
0
87%
so
oawyers Mtge Go
.10u
..ell A Wllaes-B Coal
ou
e LorlUard
<P> pref..”lOu
viad 1 so 11 Sq Garden._lud
2d 6s 1919.......Al¬
da 11 hat tan Transit... 1
Exc
--
40
99%
6*4
Mouotyi>e...lOu
.a us tun
1 0
iuO
99
105
35
...
M.70 4.20
64.70 4'4%
9-J
12
62
Mer Mar—See ft tk K
oernational Ntckei..lOo
128
Preferred
.10u
89
1st g 5s 1932
A-o
91%
international Salt
10u
6
1st g 5s 1951
A-v> / 47
international SI ver—lOu
60
Preierred
10u
iu6
1st 6s 1948
—J*u 1 0
internet Smelt A ttetg 100
130
ntornat Tlm^ Keco-d.10^
175
luu 1J5
Preferred
Junes A Laughlta Steel Co
1st S f B 5s 1939..M-N
10012
Lackawanna Steel
lOu
1st con 5s 19ou
M*
Deb
92'
1915......;V»-S
I00S4 101*
971*
97
45
5
luteiuat*
84
100
Exa
161
...
StVoeqpb Gfis *s
Per sham.
list
86%
83%
j7
*
list
31%
32
63
Gas
50
13
Indianapolis
79
1st g 5s 1952
A O
Jackson Gas 6s g *37. A-O / 88
e Laclede Gas
.joo
99
e Preferred
80
.100
ioi PbciflcT?ds’i'EVdom.1o
North J<
8
40%
Exc
Exc
list
100
76
87
108
100
96
Gas Securlfes
.0
971
list
75
83
Exc
1 >1
list
i(k)
97
951
Exc
60
78
103
Steiuway 1st 6s 1922..J-J
Kansas City
1U.%
98
Kings C Ei 4s —See Stock
102
98
Syracuse R T 5s '46..M S
Treat P A H 5s 1943.J-D
United Rys ot St L—
Com %ot tr ctfs
lOo
-«*
9<j%
ISO
35
uew.lOu
99% interoontln't'l Rubber.100
uiternafi Bank'g Co.too
Kalroad
Chxoago Subway
>00
220
:
Bklyn Hap Tran—see Stk
Coney Isl A Bklyn..lOo
1st cons g 4S 1948..J-j
Con g 4s 1955
...J-J
74
i.a
98
117
Exc
Bkln Queens Co & Sub—
e 1st g 5s *41 op *16. J-J
elst oon 5s '41 op’16 M N
1948
85
Preferred
loo
Hudson Realty.....-loo
98
8
Chic Gt W oom tr ctfsLSee Stock
• Preferred tr ctfs../
list
Chic Peo A St L—
Prior hen g4 Hs 30. M-S / 85
Con wtg g os 1930.^J-J / 60
Income 5s JUly 1930.. t
Pat City oon 6s ‘31.J-D
112
2d 6s opt 1914..A-O
100
So Side El (Chlci —See Ch icago
Ninth Avenue stock..100 155
10
Second Avenue stock. 100
1st v! 5s'09ext *1 a*.M-N
993,
F-A / 50
Consoi 6s 1948
9 Sixth Avenue stock
100 110
6u
Sou Boulev 5s 1945...J-J
88
So Fer 1st 5s 1919
A u
Third Avenue—See Stock Exc
Tarry IV P A M 5b 1928 / 50
YkersStRR5s 1946 A u
75
28th A 29th Sts 5s '96 A-O 1 15
Twenty-third St stk ..100 190
Union Ry ls> 5* 1942.F-A 100
06
Westchest 1st 5s '43 J-J
Con 5s g 1931
A-O
B B A W E 5s 1933—A-O
g
Hackensack
water Co
Ref g 48 *52 op *12. .J-J
lad Signal Co com.. 100
...
99%
7“
*0M
176
logersoll- Raud oom.100
e Preferred
10/
•
126
90
102
43
*»M
i
20
ioboken Land A Imp lOo
e 5s 1910
M-xV
Houston Oi .........100
40
75
20
97
97%
3
10
100
ier*g-rial.-Mar
93
Tidewater 6s 1913 guai
Waoash i Hs 191
M-N
West i'eup A Tas *12.F-A
N’estiugh'c El AM 6 : 1913
5% notes Oct 1917.A-O
I0o%
106%
too
40
3.0
Inter-Met—See Stk Excn ange
Lex Av A PavF 5s see Stk Exc
Brooklyn
Avenue HR—
105
72>;
22a
103
M-N
....
Atlan
7l>103
So J Gas Ei A Trac.100
90
nst
42d St M A St N Ave.100
1st mtge 6s lU10./H-ft
2d income 6s 1915.J-J / 25
Metropol St Ry—See Stk
1 921
A-O
J C Hob A Paterson—
1st 58
90
.
Dry D E B A B—
Pub Serv Corp N J (Oon)
Cons Tract ot N J
100
1st 5S 1933.
J-D
New’k PasRy 5s 30 J-J
60
90
iavana Tobacco C0-.IO0
3
Preierred .........loo
8
1st g 5s June 1 *23 J-D / $0
looker- Jones-Jewell
Mil
1st 6s 1922
M * 108
97
28
65
^8
27
4Hj Jan 1911-1925
Y N H A U 5s 10-T2
its‘12 op.F-A
1913
M-S
South Ry g 6s 1913..P-A
Ask
..too
..
9i‘
95
St L A S K 4
5s Mch 1
Bid
88*4
20
*60
..
100
100
94
30
55
xN
Street Ra; ways
147
_.10o
..lOo
-.100
n
93
20
55
Balt A Ohio ^3191. .J-D
iietnioh '•ten os *1« —M-N
Uhio A Alton 5s *18..M-S
sales
Ctn Ham A D 4s 1913.J J
$17,500 0 C C A St L 5s. June ‘11
36.500 Hudson Companies—
6s Oc. 16 1911
A-O
35.000
6s Feb 1 1913
35,100
F-A
67,200 intern R T g 6s 1911.M-N
*7,.50 (%. C RyALight 6s 12.M-S
Minn A St L g 5s *11.F-A
$228.6501 -NYC Lines Eq 5s *10-22
“1/
5"'
uo
93
80
mS
88
..10V
._10» 102
See S tk Ex
General
112
il2
100
n>a
Bond
except where marked
“and interest'
now
mu
65
40
Ser B 4s MCh 15 *12 M-S
Outside Securities
72
118
11J
50 U
114
Short-Term Notes
Am Clg ser A 4s ll..M S
Bond
*1%
rffif
DavL-Daly Copper Go.10
Preferred
Sts Ferry.100
1st mUre 5s 1919..J-o
Union Ferry stock.*100
9 1st 5s 192J......M IS
PHILADELPHIA
3,419
8,072
8,817
14,791
8,424
6,019
8,879
9,766
Pacific A Atlantic
*
25
«Pac letep A Teieg pf. 100
Southern A Atlantic.. 25
76*4
30
4$
27
47
954,587.600 10th A 33d
$20,000
39,000
46,000
76,000
75,000
5 >,000
5,302
6,294
9.693
Emp A Bay State Tel.lOu
Franklin
—100
i Gold A Stock
Telen.lOO
• Northwestern Tel eg. 6u
$600
Philadelphia.
Boston.
Central A So Amer..100
Joram’l Un Tel (N Y». 85
s
11*4
A
IS
Diamond Match Co. 100
75*4 duPontlEDdcNemPa 10>j
e Preferred
.......10 /
76*4
Ferry Companies
147.541,245 B A xN Y 1st 6s 1911. J-J
$13,509,757,725 N Y A E U Ferry stk.100
$110,650
1st 5a 1922
M-N
yYAHoP 5s May '46.J-D
$357,200
Hob Fy 1st 5s 1946 M-N
28,262,200 M Y A N J 5s 1946
J-J
626,000
10, 4 .,000
Government bonds...
$600
...Hio
Debenture 4s 1951 A-O
!(*■
crucible Steel
a Preferred
..100
PreCerrnl
e
76
Telegraph and ) e cohone
Amer Tel eg A Ca;x e. 100
1909.
1010.
76
*
Sep'. 16.
Jan. 1 to
126,000,235
1,947,017
5,401,029
$172,613.4 0 $474,397,400 $11,316,725,150
$851, $00
$18,700
$24,700
State bonds
Total bonds
Bonds.
1909
1910
Stocks—No. shares...
Bonds.
37,410,000
36,555,950
40,105,700
34,75.»,000
1,347,01/$172,513,430!
.....
V. S.
$5,145,300
18,537,500
67,833
Saturday .........
Monday
.....
Tuesday...........
Wednesday
.......
Thursday
Friday
—...
State
Par value.
Shares.
Sept. 16 1910
Railroad.
Ac.,
Narraxan tProvl EM Co.50
N Y Au El L A Pow Co 100
Preferred
10u
United Biec of N J
100
1st g 4s 1949......J-D
Western Power com. 100
Preferred —100
AsM
mi
Ask
1st
87
124
87
50
80
85%
LXXXXI.
...
Westchester A Bronx Tit
A Mtee Guar. „„„. 100
.VesUngh’se Air 8cake.60
.Vest El A Mfg 5s—sSre§tk
270
280*
7
Ti 1
23 >
....
...
20
/15
/3
6
40
....
100
•
ll
14
46
86
600
42
80
508
list
(1st
137
Exc
Exc
133
105
150
iuo
140
*8*4
4
44
20
lt*.Utn*K4ni
?
56
30
99
«o
105
100%
46
110
ios
110
*42
*
*30
61
68
60
Kl8
99
j
4%
15
215
47
lit)
96
107
1 JO
95
114
,
4%
36
52*
11$
LOO
118.
114
lio
Exc Hat
150
Exc
.Vorthlng Pump pref-loo 106
.
mmrn
iW
si
Sept. 17
1910.]
THE: CHRONICLE
700
ittuestmcwt and Railroad Intelligence.
JrtAllHOAD
GrtOSS
EARNIinGS.
The following table shows the gross earnings of
every STEAM railroad from which regular weekly or monthly
returns
can be obtained.
The first two columns of figures
give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and
including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal
year does not begin with July, but covers some other
period
The returns of the electric railways are brought together separately on a
subsequent
Latest Gross
ROADS
Week
Darnings.
Current
Year.
or
Month.
July 1 to Latest Date.
Previous
Current
Year.
Year.
August
301,427
263,041
August
149,938
130.944
August
132.438
110,350
July
6,889
4,795
AtchTop ASFe... July
8,021.539 7,742,272
Atlanta Blrm A Atl 1st wk Sept
51,070
50,513
Atlantic Coast Line July
2,148.065 1,863.040
0 Baltimore & Ohio. July
7,547,733 7,092,141
B A O Ch Ter RR July
136.047
93,650
Bangor A Aroostook July
214,159
219,043
Belltfonte Central.. July
6.683
4,189
Boston A Maine
July
3,751.230 3,722,367
Bridgeton A Saco R July
5,224
5,895
Buff Roch A Plttsb. 1st wk Sept
179.999
196,960
Buffalo A Susq__._ June
200,947
204,579
Oanadlan Northern 1st wk Sept
286,500
190,400
Canadian Pacific
1st wk Sept 1,958,000 1,664,000
Central of Georgia.. 1st wk Sept
225.600
229,600
Central of New Jer. July
2,317,508 2,196,010
Central Vermont
July
274,329
326,984
Chattanooga South. 4th wk Aug
2,789
2,434
Chesapeake A Ohio. 1st wk Sept 563,507 576,974
0 A O Ry of Ind. 1st wk Sept
31,852
Total both dlvs._ 1st wk Sept
595,359
576",974
Chicago A Alton
1st wk Sept
338,523
284,032
Chic Burl A Quincy July
7,087,571 6,825,808
pChlc Great West. 1st wk Sept
241,436
198,287
Ohio Ind A Louisv_ 1st wk Sept
129,665
121,772
Chic Ind A Southern —See New York Cen tral.
Ohio Mllw A St Paul July
5.341.536 5,210,458
Ch Mil A Pur Sd. July
1.142,072
Ohio A North west. July
6,404,222 5,896,270
AOm_. July
ifojBtPM
1,268,953 1,123,976
Ham A Dayton July
804.439
755.050
577,686
284,360
257,855
6,889
8,021.539
489,676
ROADS.
_
v
Cln Chic A St L —See New York Cen tral.
ido Midland-. July
157,346
200,071
lo A South.. 1st wk Sept
308,302
285,025
Range
Iwall
June
July
..■
.....
fcwall A Leban. July
Railroad
July
71,213
18,328
78,526
12,873
36,8834
39.111
503,856
252,276
216,648
i
4,795
7,742,272
428,761
1,863,040
7,092*141
93,650
219,043
4,189
2,148,065
7,547,733
136,047
214,159
6,683
3,751,230
5,224
1,878,291
2,212,437
1,834,801
2,298.977
2,604,600
1,841,000
3,722.567
5,895
274,329 1
326,084
16,638
13,023
5,893.972 i5.629,676
310.433
6,204,406
2,898,017
7,087,571
2,292,574
5,629", 576
2,638,780
6.825.808
I,258,971
2,077,455
1,138,894
5,341,536
5,210.458
1,142,072
6,404,222
1,268.955
804.489
5,896,270
1,123,976
755,050
157,346
3,097,450
747,861
18,328
200,071
2,936,805
36,883
233.440
39,111
162.429
18.907,945
3.168,225
4.479.716
225.930
288,795
356,675
766,021
12,873
233.440
162,429
(aware A Hudson June
1,613,698 1,545,739 19.986,436
Del Lack A West.. July
3,007,986 3,168,225 8,007.936
Denv A Rio Grande 1st wk Sept
515,100
467,100 4.745,426
Ddnv N W A Pao
4th wk Aug
28.381
31.350
238.908
Det Tol A Iront Sys 1st wk Sept
39.717
34,288
375,293
Ann Arbor
;
1st wk Sept
40,605
42.366
362.502
Detroit A Mackinac 1st wk Sept
23,548
22.693]
231,602
237,440]
Dul A Iron Range.. June
1,292,880 1,048,686 10,289.064 6.847.572
On! Sou Sh A Atl.. 1st wk Sept
71,312
71,020
729,370
664,630
Bl Paso A Sou West July
584,959
606,234
584,959
606,234
Erie
July
4,675,254 4,279,549 4,875,254 4,279,549
Fairchild A Nor E. July
2,081
1,785
2,081
1,785
Fonda Johns A Glov July
95,747
85,207
95,747
85,207
Georgia Railroad
July
218,543. 201,693
218,543
201.693
Georgia South A Fla —See Sout hern Half way.
Grand Trunk Syst.
1st wk Sept
969,494
939,143 8,034,439 8,309.736
Grand Trk west. 4th wk Aug
193.142
186,280
893.440 1,048.696
Det Gr Hav AMU 4th wk Aug
54.037
54,718
275,852
321,285
Canada Atlantic. 4th wk Aug
55,707
60,204
288.502
339,572
August
5,849.354 5,557,912 II,641,816 10,872.850
Ulf A Ship Island. July
151,726
155,930]
151,726
155.930
Hocking Valley.... (July
660,192
558,271
660,192
558.271
Illinois Central.... August
5,143,726 4.870.027 9,855,296 9.200.888
Internet A Gt Nor. 1st wk Sept
163,000
161,000 1,496,000 1,352.000
• Interoceanic Mex. 1st wk Sept
147,445
142,647 1.589.277 1,470.171
Iowa Central
1st wk Sept
72,375
70,376
592.226
593,975
Kanawha A Mich.. July
266,196
213.994
266,196
213,994
Kansas City South. July
887,977
659,315
837,977
659,315
K C Mex A Orient.. 1st wk Aug
35,125
34,140
197,084
174,029
ehlgh Valley
July
2,876.218 2.754.399 2,876,218 2.754.399
sxlngton A East.
uly
40,985
35,852
40,985
35,852
>ng Island
2nc.ll 3.678
uly
Inc.11 0,678
lsiana A Arkan. Ji
July
113,377
106,091
113,377
106,091
Loulsv Hend A St I. “uly
96,285
83.906
96,285
83,906
« Loulsv A Nashv..
st wk Sept
999.205
911.995 9,762,490 8,862,230
Macon A Blrm'ham
ugust
11,004.
11,161
23,081
22,941
Maine Central..... uly
759,712
793,835
759,712
793,835
Manlstlque
August
3,408
3,547
6,691
6,740
Maryland A Penna.Uuly
34,015
31.693
31,693
34,015
a Mexican Railway. <Jd wk
Aug
162,600, 137,700 1,165,500 1.141.400
Michigan Central
<—See New York Cen tral.
Mineral Range
1st wk Sept
13,644
18,371
135,722
166,051
Mlnneap A St Louis 1st wk Sept
105.143
108.406
924,012
850,896
Minn St PASS Ml '1st wk Sept
481,260
511,124 4,383,213 4,008.104
Chisago Dlvls.oni
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 Pnc A Iron
.
.
.....
.
.
.
great Northern Syst
Week
or
._
Year.
N Y N H A Hartf..
N Y C A Hud Rlv.
Lake Shore AMS
i \ n Lake E A West
Chic Ind A South
July
July
July
July
July
Michigan Central. July
Cleve C C A St L. July
Peoria A Eastern July
Cincinnati North. July
Pitts A LakeErie July
Rutland
July
N Y Chic A St L. July
Tol A Ohio Cent. July
Tot all lines above July
N YSusq A West.. 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
....
....
_.
....
Pere Marq uette
July
Fhla Balt A Wash. July
Pitts Cln ChlcASt L July
Raleigh A Southp’t July
Reading Company
Phlla A Reading July
Coal A Iron Co..
Total both cos
Rich Fred A Potom
Rio Grande June
Rio Grande South
Rook Island Lines..
St Jos A Grand Isl.
St Louis A San Fran
Ohio A East Ill..
/ Evansv A Ter H
Total of all lines.
St L Rky Mt A Pac.
St Louis Southwest
San Ped L A A S L.
Seaboard Air Line.,
Atlanta ABlrm. \
Florida W Shore j
Southern Indiana..
Southern Pacific Co
Southern Hallway..
Mobile A Ohio
Cln N O A Tex P.
Ala Great South.
3,368.765 3,092,398
1,499.664 1,597,095
4,868.429 4.689,494
193.453
184,727
June
89,886
84,049
1st wk Sept
12,519
6,865
July
3,310,938 5.416,601
July
140.505
141,754
July
3,343,663 3.254,905
July
909,994
853,180
July
225,044
191,254
July
4,478,701 4,29$,288
June
180,967
144,952
1st wk Sept
238.804
208,798
July
626,820 7*49,083
July
.....
.....
1st wk Sept
July
July
Tomblgbee Valley.. July
Union Pacific Syst. July
Vandalla
July
Virginia A Sou West July
...
-----
Sept
Sept
Sept
Sept
Sept
Sept
....
Wabash
1st wk Sept
Western Maryland. June
W Jersey A Seash
July
Wheeling A Lake E August
White River (Vt)__ June
Wrlghtsvllle A Tenn July
Yazoo A Miss Vail. August
...
.
...
...
...
c
...
r
...
Mtl
Central Branoh.j 1st wk Sept 1.039,000
1.034,000 9,940.106
Nashv Chatt A St L I uly
929,664
910.984
929.664
a Nat Rys of Mex.f. 1st wk
Sept 1,249.940
932,450 11,646,383
Nevada-Cal-Oregon 1st wk Sept
10,632
20,725
83,991
Nevada Central
Tune
7,385
60,096
6,016i
N O Great Northern ruly
147,814
105,4491
147,614
N Q Mobile A Chic
32,622
,tVk
Sept
3
28,994
281,315
Ont A WesterniJuly
041,455
.....
.....
^
861,086
941,455
910,984
9,922,701
109,175
75,388
105,449
234,006
861,086
4th week June (44
week July (45
2d week July (44
Sd week July (43
4th week July (42
1st week Aug (43
Id week Aug (43
1st
Id
week Aug
Cur’nt Year Prev’s Year Inc. or Dec.
$
roads)....
roads)
roads)....
roads)....
roads)....
roads)....
roads)—..
(42 roads)....
fth week Aug (39 roads)....
1st week Sept (41 roads)....
17.171.904
12,359,231
12,546,427
12,802,686
17,393,199
12,874.219
13,330,857
13,462,769
19,342,788
13.436,925
lt.S^.TOO
11,133,004
10,966,342
11.433,364
16.676.649
11,968,289
12.132,599
12,283,880
16,765.742
12,381,354
d Cover; hues
directly
u.-u
w-.
~
of which,
being a Canadian
119,083
5,310,938
140,505
3,343,663
909,994
225.044
1,974,244
184,727
M
5,416.601
141,754
8,254,905
863,130
191,254
4,299,28$
1.439,04$
1,861,741
626,820
740.08$
3.355.416
3,129,007
Current
Year.
Period.
Jan
Jan
.....
...
387.638
4 478,701
2,109,985
3,092,398
1,597,095
4,689,494
"
Jan
a Mexican Railway
k
Jan
e N Y Central A Hudson River. Jan
Lake Shore A Michigan South Jan
n Lake Erie A Western..
Jan
Chicago Indiana A Southern Jan
Jan
Michigan Central
Cleve Cln Chicago A St Louis Jan
Peoria A Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh A Lake Erie..
Jan
Rutland
Jan
New York Chicago A St Louis Jan
Toledo A Ohio Central..
Jan
Total all lines......
Jan
Northern Central........
Jan
d Penn—East of Plttsb A Erie. Jan
d West of Plttsb A Erie....
Jan
Phlla Baltimore A Washington. Jan
Plttsb Cln Chicago A St Louis.. Jan
Rio Grande Junction
Deo
Texas A Pacific
Jan
West Jersey A Seashore.....
Jan
...
.
......
...
......
.....
%
+2,312 204 15.29
+ 1,580,085 14.41
+ 1,370,322 11.99
+716.550 4.29
-4-903,930 7.94
+ 1,198.258 9.87
+ 1,178.889 9.60
+2.577.046 15.37
1,055,571
3,368,765
1,499,664
4,868,429
103,453
1,047,041
Previous
Year.
July 31
345,957
$33.44$
9,635.253 9,297.367
Aug 31
28.417
28,005
to Aug 21 5,368.300 4,862,300
to July 31 55,299,277 50.528,965
to July 31 27,743,020 24.183,45$
to July 31
2,997,259 2,558,
“
to Jluy 31
2,172,263 1.649.
to July 31 16,499,286 14,857,
to July 31 16,557,349 14,805,72$
to July 31
1,860,375 1,578,14$
to July 31
691,718
612,96$
to July 31
9,812,195 7,232,121
to July 31
1,769,676 1,650.56$
to July 31
6,338.493 5.505,281
to July 31
2,628,661 1,970,361
to July 31 144369572 127175557
to July 31
7.162,209 6,686,309
to July 31 93,702.114 83.058.714
to July 31
Inc.10, 003,200
to July 31 10,796.289 9,983,080
to
to
to
June 30
to
July
to
June 30
to
to
Sept
July
31
7
31
19,467,244 16,029,48$
555,817
10,112,542
3.446.933
497,$$$
0,077,011
3,161,08$
EARNINGS—Weekly and Monthly.
+ 1,226,137 11.01
+
Manlstlque
Previous
Year.
149,759
104,328
149,759
104,328
11215272 10814569 11,215.272 10,814,569
1,098,808 1,091,179 10,748,332 10,092,41$
189,119
179,396 1.954.654 1,784,81$
182,094
157,873 1,758,523 1,481.000
80,831
66,653
651.952
819,766
40,632
43,578
419,254
383,805
61,510
65,737 1,014,276 1,164,481
272,653
265,908 2,681,866 2,458,84$
7,184
6,517
7,184
6,517
21,942
20,955
238,579
211.935
72,378
74,656
721,951
721.883
7,405
6,404
7,405
6,404
7,916,655 7,534,854 7.916.655 7,534.854
820,338
721,915
820,338
721,915
91,453
102,116
91,453
102,11$
804,593
591,738 5,672,478 5,454.27$
589,676
496,446 7,081,856 5,952,697
846,981
762,581
846,981
762.581
697,000
615,000 1,327,796 1,205,565
2 496
3,131
18,149
15,864
’lft’lil
16,149
708,770
742,968 1,380,388 1,386,89$
...
9,618,199
AGGREGATES OF GROSS
Weekly Summaries.
367.533
Various Fiscal Yean.
Belief on te Central
Delaware A Hudson
Year.
...
Tidewater A West. July
Toledo Peor A West 1st wk Sept
Toledo St L A West 1st wk Sept
.....
Current
5,269,634 5,070,158
8,328,479 7,955,196
4.029.892 3,938,349 4,029.892 3,938,340
426,378
390,677
426,378
390,677
246,506
268,229
246,506
268,229
2,511,882 2,266,661 2,511,882 2,266,661
2,376,081 2,297,705 2,376,081
2,297,705
268,617
239,794
268,017
239,794
101,752
88,331
101,752
88,331
l 528,576 1,449,479
1.528,570 1,449,479
293,333
280.507
293,333
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
230,927
216.468
2,914,363 2,581,300 2,914.363 2,581,309
971,815
975,315
971,815
975.315
6,247,337 6,697.979 6,247.337 6.697,970
815,604
734,582
815,604
734.588
4.777.553 4,406,416 4.777.553 4,406,416
13278165 12915765 13,278,165 12,915,765
Inc. 62 3,400
Inc. 62 3,400
1,372.510 1,215,396 1,373,510 1,215,398
1,713,878 1,517,878 1.713.878 1,517.87$
2.675.553 2,439,388 2.675.553 2,439.38$
11 489
11.736
11,736
11,480
July
July
1st wk
1st wk
1st wk
1st wk
Georgia So A Fla. 1st wk
Texas Central
June
Texas A Pacific.... 1st wk
.
July 1 to Latest Date.
Previous
Year.
5,269,634 5,070,155
8,328,479 7,955,195
e
.....
R
Curren'
Month.
19,753,214 15,956.030
2,193,818 1,970,238
2,317,508 2,196,010
....
Latest Gross Earnings.
Previous
Year.
Ala N O A Tex Par
N O A Nor East.
Ala & Vicks burgTVlcks Shrev A Pa
Ala Term & North.
page.
8.53
Monthly Summaries.
‘
Mileage Curr. Yr.
November —236,574
December ..237,189
January ...236,758
February ..236,852
March .....235,925
April
237,569
May
237,560
June
{uly
August
—304,596
—231,164
81,879
Current
Yr. PreviousY”.
l£& 247,3^0.054 211.2tl.504
222,006,184 205.465,121
231,36$ 310.502.219 182,649,625
231,652 202,258,490 174,150,723
230.841 237.555.005 204,916.997
$22,465 225.225.596 196,595,911
$$$.494 254,310,842 201,069,361
290,901 208.364,918 184.799.806
hhn
217.202.265 205.879.9 59
62,005,137 56.405,038
Inc. or Dec.
%
+36 089.45017.08
+
18,561,06308.0$
+27,652,39415.14
+ 28.098.76716.11
+32.616,00816.98
+
28,629.68614.5$
+33.241.26116.61
23.565,112U.fl
+
+ 11,322.306
5.5$
+5.600,104 9.9$
operated.
• Includes the New York A
Ottawa, the St. Lawrenop A Adirondack and the Ottawa
Y* Rjr., the latter
road, does not make returns to the Inter-State Oommoroe Obi
Commission,
t Includes Bvansvilte
udlana HR.
g Includes the Cleveland Lorain A
Wheeling Ry. In both years, n Includes the Northern Ohio RR. p Includes earnings of Maeoi
A"Ft- Dodge and Wise Minn. A Pacific, s Includes Louisville A Atlantic from
July 1 1009 and the Frankfort A dnolanatl from Nov. 1 1A00.
Jludes the Mexican International from July 1910, u Includes the Texas Central in 1910u
J
-
-
-
-
THE CHRONICLE
710
table which
first week of
September. The table covers 41 roads and shows 8.52%
ncrease in the aggregate over the same week last year.
Latest Gross Earnings by Weeks.—In the
follows we sum up separately the earnings for the
First week of
1910.
September
Alabama Great Southern
Atlanta Birmingham & Atlantic
Buffalo Rochester A Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake A Ohio
\
Chicago A Alton
Chicago Great Western
Chicago Indianapolis A Loulsv.
Cincln New Orleans A Texas Pac
Colorado A Southern
Denver A Rio Grande
Detroit A Mackinac
Detroit Toledo & Ironton
Ann Arbor
Duluth South Shore A Atlantic
_
...
Georgia Southern & Fla
Grand Trunk of Canada
_]
Grand Trunk Western
1
Detroit Grand Haven A Mllw|
J
Canada Atlantic
International A Great Northern
Interoceanlc of Mexico
Iowa Central
Louisville A Nashville
Mineral Range
_____
—
Minneapolis A St Louis
Minneapolis St Paul ASS M__l
Chicago Division
Mobile A Ohio
Rys of Mexico
Nevada-Californla-Oregon
National
Rio Grande Southern
St Louis Southwestern
Seaboard Air Line
Southern Railway
Texas A Pacific
Toledo Peoria A Western
Toledo St Louis A Western
Wabash
Total (41 roads)
Net Increase (8.52%).
J
Increase. Decrease.
$
66,653
50,513
196,960
190,400
1,664,000
229,600
576,974
338,523
241,436
129,665
182,094
308,302
515,100
22,693
39,717
40,605
71,312
40,632
284,032
198,287
121,772
157,873
285,025
467,100
23,548
34,288
42,366
71,020
43,578
54,491
43,149
7,893
24,221
23,277
48,000
969,494
939,143
30,351
163,000
147,445
72,375
999,205
13,644
105,143
161,000
142,647
70,376
911,995
18,371
108,406
2,000
4,798
1,999
87,210
481,260
511,124
1,034,000
179,396
932,450
20,725
6,865
208,793
387,638
1,091,179
265,908
20,955
74,656
591,738
1,039,000
189,119
1,249,940
10,632
12,519
238,804
367,533
1,098,808
272,653
21,942
72,378
604,593
$
$
14,178
$
80,831
51,070
179,999
286,500
1,958,000
225,600
,595,359
/
Ches & Ohio of Indiana
Missouri Pacific
1909.
557
16,961
96,100
294,000
4",666
18,385
855
5,429
1,761
292
2,946
4,727
3,263
29,864
5,000
9,723
317,490
10,093
5,654
30,011
20,105
7,629
6,745
987
2,278
12,855
13,436,925 12,381,354 1,152,424
1,055,571
96,853
Monthly to Latest Dates.—In our “Railway
Earnings’7 Section, which accompanies to-day’s issue of the
“Chronicle” as a special Supplement, we print the July
returns of earnings and expenses (or in the absence of the
July figures those for the latest previous month) of every
steam-operating railroad in the United States which is
obliged to make monthly statements to the Inter-State
Commerce Commission at Washington.
Net Earnings
The Inter-State Commission returns are all on a uniform
as to revenues and expenditures, and possess
special utility by reason of that fact. In a number of
instances these figures differ from those contained in the
monthly statements given out by the companies themselves,
for publication, and in which the accounts are prepared in
accordance with" old methods of grouping and classification
pursued in many instances for years. We bring together
here (1) all the roads where there is a substantial difference
between the two sets of figures, so that those persons who
for any reason may desire to turn to the company statements
will find them readily available.
We also give (2) the re¬
turns of such roads (even where the figures correspond
exactly with those in the Inter-State Commerce reports)
which go beyond the requirements of the Commission and
publish their fixed charges in addition to earnings and ex¬
penses, or (3) which have a fiscal year different from that of
the Inter-State Commerce Commission, in which latter case
we insert the road so as to show the results for the company’s
own year.
We likewise include (4) the few roads which
operate entirely within State boundaries, and therefore do
not report to the Federal Commission, and (5) Mexican and
Canadian companies.
We add (6) the roads which have
issued their own statements for July, but have not yet
filed any returns for that month with the Commission.
Finally (7) we give the figures for any roads that have
already submitted their August statement.
basis, both
Roads.
-Gross Earning sCurrent
Previous
Year.
Year.
Hocking Valley, b
-Net EarningsCurrent
Previous
Year.
Year.
$
3
$
7,742,272 J2,766,500 ^2,713,612
2,278,082
7,092,141
2,123,843
219,043
56,471
81,892
Bangor A Aroostook-b_July
214,159
def 880
Bellefonte Central
4,189
6,683
1,390
July
Jan 1 to July 31
45,957
33,442
1,458
8,202
5,895
5,224
Bridgeton A Saco Rlv__July
2,149
2,839
Buffalo Roch A Pltts_b.July
796,585
758,904
274,864
347,577
Canadian Northern
843,500
229,600
348,200
July 1,225,100
Canadian Pacific.a
7,140,030 3,484,619
July 8,869,214
2,479,871
Central of New Jer.b
937,761
July 2,317,508 2,196,010
948,932
d975,538
975,188
2,410,007
Chesapeake A Ohlo.b_.July d2,688,695
865,024
233,807
177,921
Chicago Great West.b.-July
951,437
1,279,809
Colorado Southern.b-.-July 1,343,246
379,024
446,953
162,429
118,432
Cuba RR
July
233,440
49,017
1,545,739
573,533
Delaware A Hudson.b-June 1,613,698
582,57s
Jan 1 to June 30
9,635,253
9,297,367
3,694,442
3,471,125
1,990,516
700,638
Denver A Rio Grande.a.July 2,049,726
704,006
285,234
116,524
81,945
Duluth So Sh A Atl-b.-July
311,983
Erie,.*
July 4,675,254 4,279,549 1,387,408 1,117,856
$
July
Iowa Central.a
July
Kansas City Southern b June
Jan 1
__
to
July 31
Jan 1
to
50,614
2,720,373
711,482
58,393
710,509
120,202
27,009
defl0,220
973
def9,733
4,330,861
679,879
252,739
760,882
8,901,396
939,083
258,811
h25,957
387,570
220,234
hSl ,162
281,235
298,721
3,458,873
91,950
709,699
73,665
366,760
1,144,522
718,412
57,565
1,913,863
4,008,199
4,482,292
43,828
105,449
7,955,195
50,528,966
3,938,340
24,183,458
390,677
2,558,010
268,229
1,694,912
2,266,661
14,857,031
2,297,705
14,805,728
239,794
1,576,146
88,331
612,962
1,449,479
7,232,121
280,507
1,650,562
833,807
5,505,281
340,815
1,970,351
20,349,540
127175,537
3,346,973
Inc 18,663
Inc 75,614
722
def 1,494
def6,626
1,693
81,718
694,378
29,608
216,470
defl4,418
10,815
fcll4,910
fcl21,914
451,838
261,066
35,504
407,357
254,182
18,923
*437,210
533,932
823,447
2,128,383
1,022,020
1,779,992
15.042
25,779
32,399
65,056
2,457,712
2,220,075
13,423 212 14,503,091
1,570,664
1,138,662
8.677,124
8,251,389
68,905
619,703
29,173
567,172
702,421
4,654,362
309,585
3.529,879
53,226
478,366
62,615
349,878
58,588
344,565
715,368
4,400,404
736,674
3,806,293
75,379
394.596
203,854
873,456
20,193
103,826
890,236
3,788,161
93,480
415,117
294,451
1,557,741
109,299
485,435
5,949,436
7,084,657
17,488
129,122
850,153
5,319,956
98,062
489,878
257,882
1,973,533
•
40,310,028 38,826,231
387,404
295,186
861,086
79,727
68,854
244,509
Susq A Western.a.July
294,804
986,298
1,006,744
Norfolk A Western.b-.July 2,914,363
2,581.300
153,632
194,432
975,315
Northern Central _b
July
971,815
Jan 1 to July 31__
7,162,209 6,686,309 1,229,316 1,201,716
196,617
196,700
734,582
Pacific Coast Co
July
815,604
Pennsylvania—Lines directly operated—
3,601,708
4,066,808
East of Pitts A Erie.July 13,278,165 12,915,765
Jan 1 to July 31
93,702,114 83,058,714 24,333,054 22,455,854
Dec
521,400
West of Pitts A Erie. .July
Inc
623,400
Inc 1,151,600
Jan 1 to July 31
Inc 10,003,200
331,543
378,118
Pere Marquette_b
July 1,372,510 1,215,396
430,334
460,234
Phila Balto A Wash
1,517,878
July 1,713,878
2,356,794
2,395,494
Jan 1 to July 31
10,796,289 9,983,039
696,340
436,444
2,439.388
Pitts Cin Chic A St L.a.July 2,675,553
Jan 1 to July 31
19,467,244 16,029,488 3,692,729 3,729,273
Reading Company—
1,095,001
Phila A Reading.b.-July 3,368,765
3,092,398 1,174,073
Coal A Iron Co.b
Total both cos.b
July 1,499,664
July 4,868,429
Reading Company—July
Total all companies. .July
Rio Grande Junction
June
1,597,095 def208,210
145,276
1,111,139
._
84,049
497,881
89,886
555,817
Dec 1 to June 30
965 863
4,689,494
July 5,310,938 5,416,601
3,254,905
St Louis A San Fran.b-July 3,343,663
853,130
Chicago A East IH.b.July
909,994
191,254
Evansv A Terre H’te bJuly
225,044
4,299,288
Total all lines.b
July 4,478,701
798,793
St Louis Southwestern a July
910,487
Southern Pacific.a
July 11,215,272 10,814,569
Texas A Paclfic.b
July 1,133,016 1,018,727
Jan 1 to July 31
8,563,692 7,636,895
83,608
Toledo Peor A West.b-.July
93,903
Rock Island Lines.b
122.734
August
Union Pacific.a
July 7,816,655
91,453
Virginia A Southwest.b.July
July 2,344,431
Wabash
Western Maryland_a.--Junc
589,676
West Jersey A Seashore.July
846,981
Jan 1 to July 31
3,446,933
Yazoo A Miss Vail.a.--July
671,618
107,372
7,534,854
102,116
2,238,365
496,446
762,581
3,161,033
643,930
n26,966
nl66,745
1,368,271
964,352
283,413
87,317
1,335,083
177,167
3,897,461
79,620
1,522,194
13,898
35,368
3,385,197
28,789
578,593
r204,563
394,262
637,394
54,005
def94,240
1,000,762
145,507
1,146,269
n25,214
nl49,366
1,756,885
1.036,488
300,000
77,218
1,413,707
208,795
3,999,453
138,082
1,278,902
16,211
36,133
3,815,116
35,275
662,852
rl 58,460
374,662
700,294
def59,997
INDUSTRIAL COMPANIES.
Companies
Edison El Ill Co (Bost).Aug
July 1 to Aug 31-a
-Gross Earnings
Previous
Current
Year.
Year.
$
326,442
659,035
$
Net EamingsCurrent
Year.
$
156,868
324,145
Previous
Year.
8
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
c Includes the N. Y.
Ottawa, the St. Lawrence A Adirondack and
Ottawa A N. Y. Ry., the latter of which, being a Canadian road, docs
make returns to the Inter-State Commerce Commission.
d Includes Chesapeake A Ohio Ry. Co. of Indiana In 1910.
e Includes the Northern Ohio RR.
a
g These results are In Mexican currency.
h For July 1910 additional income was
in 1909.
the
not
$2,112, against a deficit of $781
j The company now includes the earnings of the Atch. Top. A Santa Fe
Ry., Gulf Colo. A Santa Fe Ry., Eastern Ry. of New Mexico System,
Santa Fe Prescott A Phoenix Ry., Southern Kansas Ry. of Texas, and
Texas A Gulf Ry. in both years.
For June taxes amounted to $320,298,
'
470,590
150,375
149,401
$
224,249
$
N Y
...
55,138
256,171
860,684
9,723,879
Inc 110,678
July
Inc 522,800
3,408
3,547
Aug
28,417
28,005
*
85,207
242,890
Aug 31
g Mexico North West.a.July
165,339
Jan 1 to July 31
1,234,230
Mineral Range._b
58,134
July
Minneap A St Louls.a-.July
413,569
MlnneapStP ASSM.a July 1,228,655
Chicago Dlvlsion.a
July
806,661
Mississippi Central.b_.-July
75,713
Missouri Kans A Tex.b.July 2,140,480
Missouri Paclfic.b
July 4,144,106
g National Rys of Mex__July 5,276,347
Nevada-Cal-Oregon b-.July
32,380
New Orleans GrNor.a-.July
147,614
cN Y Cent A Hud Riv. b July 8,328,479
Jan 1 to July 31
55,299,277
Lake Sh A MichSo.b July 4,029,892
Jan 1 to July 31
27,743,020
eLake Erie A West.b-July
426,378
Jan 1 to July 31
2,997,259
Chicago Ind A Sou.b.July
246,506
Jan 1 to July 31
2,172,?63
Michigan Central.b-.July 2,511,882
Jan 1 to July 31
16,499,286
Clev Cin Chic A StL b July 2,376,081
Jan 1 to July 31
16,557,349
Peoria A Eastern.b-.July
268,617
Jan 1 to July 31
1,860,375
Cine Northern_b
July
101,752
Jan 1 to July 31
691,718
Pittsb A Lake Erie.b-July 1,528,576
Jan 1 to July 31
9,812,195
Rutland.b
July
293,333
Jan 1 to July 31
1,769,676
NYChicAStL-b
888,970
juy
Jan 1 to July 31
6,338,493
Toledo A Ohio Cent b July
462,975
Jan 1 to July 31
2,628,661
Total all lines.b.-.-.July 21.463,441
Jan 1 to July 31
144,369,572
N Y Ont A Western.a.-July
941,455
Atch Top A Santa Fe.b.July 8,021,539
BatimoreA O il>.b
July 7,547,733
Fonda Johns A Glov.a.July
95,747
Grand Trunk of Canada—
-. Grand Trunk Ry
.July 2,538,366
Grand Trunk West..July
394,186
Det Gr Hav A Mllw__July
121.176
;
Canada Atlantic.July
120,529
558,271
$
$
660,192
Illinois Central.a
..July 4,711,570
a Interoceanlc of Mex_ .July
710,143
Long Island
Net Earnings
Cuttent
Previous
Year.
Year.
-Gross EamingsCurrent
Previous
Year.
Year.
Roads.
Manistlque.b
“
[Yol. lxxxxi.
against $278,795 in 1909; after deducting which, net for June 1910 was
$2,446,201, against $2,434,817 last year.
k For July 1910 additional income was $11,641, against $17,622 in 1909.
n These figures represent 30% of gross earnlngB.
'
>
t After allowing for miscellaneous receipts and net from coal and other
departments, total net earnings for June 1910 were $238,593, against
$179,903 in 1909.
\
2 Includes $75 other Income for July 1910, against $144 In 1909.
Sept. 17
1910.)
THE CHRONICLE
Interest Charges and Surplus.
—Int., Rentals, Ac.—
Current
Year.
$
Roads.
Bangor A Aroostook.. ...July
Bellefonte Centarl
July
Jan 1 to July 31.
Bridgeton A Saco Rlv__July
Buffalo Roch A Pitts
July
Nevada-Cal-Oregon
New Orleans Grt
236
243
1,652
1,701
1,551
529,305
539,872
194,195
252,417
36,667
288,122
256,567
*47,968*defl06,729
*134,765
*207.968
14,021
£382,100
*def8,759
131,251
81,765
£329,933
93,561
*27,087
a92,998
188,924
13,263 *def25,813
541,794*defll9,173
*def2.428
*def3,700
July
3,628
3,578
*11,791
North.July
43,025
106,620
48,082
95,562
*24,998
*646
280,784
199,624
482,848
def9,871
546,284
defl5,401
246,298
16,881
91,033
463,460
353,028
Reading Company
July
885,000
899,971
Rio Grande Junction
June
Dec 1 to June 30
St Louis Southwestern-.July
8,333
58,333
177,504
58,333
171,479
Toledo Peor A Western July
24,234
24,472
24,405
24,179
August
_
_
8,333
*23,050
226,139
18,633
108,412
*22,356
*def5,998
*def6,247
ELECTRIC
*14,896
*12,947
AND
Latest Gross
Name of
Road.
Week
August
July
fuly
July
•_
fuly
July
Brocktbn & PlyStRy July
Cape Breton Elec Co. July
Carolina Pow & LtCo July
Central Penn Trac
Cleve Palnesv & East
Dallas Electric Corp.
Detroit United Ry_.
..
fuly
July
July
itn wk
Aug
East St Louis & Sub. July
El Paso Electric
July
Falrm & Clarks Tr Co July
...
.
-_
_
_
of London—
Three tube lines
Wk Sept 10
Metropolitan Dlst. Wk Sept 10
United Tramways
vVk Sept 10
266,423
103,532
49,351
57,488
UnionRy.GAECodlU Tuly
United RRs of San Fr July
Whatcom Co Ry & Lt July
$
347,955
167,614
50,954
8,351
34,910
183,187
18,022
26,616
17,421
73,630
38,026
103,340
242,312
91,658
170,250
46,362
43,589
COMPANIES.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
$
2,391,526
845,567
285,573
53,819
2,589,261
921,158
309,312
61,791
1,496,IlO
1,276,482
73,158
135,345
106,613
66,098
157,451
120,259
476,120
195,459
799,552
431,737
174,456
710,929
6,132,501
5,166,389
544,149
1,127,467
329,927
255,881
615,174
1,330.197
358,589
327,264
125.266
122,097
113,005
45,124
115,981
109,747
98.749
41,739
723,618
731,227
643.828
1,501,249
648,655
682,473
578.558
1,400,257
37.866
30,036
506,907
46,905
623.492
132,032
397.372
126,206
398,847
144.548
487,541
262,020
125,943
185,3*8
160,492
221,557
181,031
3,351,404
330,376
4,245,50(
658,760
2,646,845
583,300
2,464,20:
1,032,501
3.648,092
1,349,355
803,563
1,460,33 ■
765,607
227,916
197,684
180,768
2,952,751
273,430
3,879,413
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
182.986
34,689
30,653
437,484
39,300
564,0(8
121,185
356.906
113,336
345,573
140,887
466,416
227,011
109,212
161,425
151,598
37,533
19,152
23,461
424,816
184,531
152,023
3,136,336
1,110,740
140,196
2,697,593
1,036,548
980,339
655,665
5,353,909
4,291,544
89,773
243,615
90,524
194,402
55,812
592,587
15,404
47,172
226,565
159,821
674,715
1,631,040
359,715
634,522
1,382,572
348,364
102,187
363,890
1,700,500
5,104,982
340.678
1,528,054
4,684,192
53,861
21,577
24,235
490,724
59.140
459,059
16,909
51,507
239,621
186,767
£11,415
£10.073
£6,610
232,318
618,635
32,660
.
are
$
362,673
182,387
54,007
9,708
37,330
216,505
16,658
28,876
16,811
82,373
41,880
210,844
Ft Wayne 4b Wabash
Valley Traction Co June
Galv-Hous Elect Co. July
Grand Rapids Ry Co. July
Havana Electric Ry. Wk Sept 11
Honolulu Rapid Tran
A Land Co
June
Houghton Co Trac Co July
Illinois Traction Co. July
Jacksonvllle Elect Co July
Kans City RyA Lt Cc fuly
Lake Shore Elec Ry. July
MUw El Ry & Lt Co. July
Mllw LtHt ATrCo.. July
Montreal Street Ry.. fuly
Nashville Ry & Light Tuly
New Orleans RyA Lt fuly
North Oh o Trac & Lt July
North Texas Elec Co. July
Northwest Elev Co
•\ugust
Norf & Portsm Tr Co May
Oklahoma City Ry
May
Paducah Tr & Lt Co. July
Pensacola Electric Co July
Port (Ore) Ry,LAP Co July
Puget Sound Elec Co. July
Rio de Janeiro Tram
Light & Power Co¬ July
st Joseph (Mo) Ry Lt
Heat & Power Co. August
Sao Paulo Tr Lt AP_ July
Savannah Electric Co July
Seattle Electric Co
July
Sou Wisconsin Ry Cc fuly
Tampa Electric Co.. July
Toledo Rys & Light. July
Twin City Rap Tran. 1st wk Sept
Underground El Ry
These figures
Previous
Year.
117,270
Duluth-Superior TrCo fuly
c
Earnings.
Current
Year.
or
Month.
American Rys Co
cAur Elgin & Chic Ry
Bangor Ry & Elec Co
Baton Rouge Elec Co
Binghamton St Ry..
Blrm’ham Ry Lt & P
TRACTION
149,144
92.508
£11,435
£9,253
£6,479
225,527
621,753
£385,295
£230,965
1,663,338
4.373.496
34,485
£452,525
£351,319
£221,541
1,573,328
4,190,658
233,039
223,514
£458,155
for consolidated company.
Gross Earnings
Current
Previous
Year.
Year.
5
Auburn & Syracuse El.b—
Apr .1 to June 30
102,038
Jan 1 to June 30.
184,075
July 1 tp June 30...... - 412,305
Illinois Traction Co .a--July
506,907
Jan 1 to July 31
3,351,404
St Jos (Mo) RyLtHAP b Aug
89,773
if
Jan 1 to Aug 31......
674,715
.
Net Earnings
Current
Previous
Year.
Year.
$
.
5
39,839
65,674
174,715
437,484
219,894
1.353,863
42,245
306,597
Net earnings here given are after
deducting taxes.
b Net earnings here given are before deducting taxes*
46,560
68,515
159,139
181,493
1,236,875
46,358
-300,801
a
26,086
22,416
19,062
125,997
24,600
130,779
6i;019
allowing for other income received.
Annual Reports.—An index to annual reports
of steam
railroads, street railways and miscellaneous companies which
have been published during the
preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in which
it is published.
The latest index will be found in the issue
of Aug. 27.
The next will appear in that of Sept. 24.
,
Operations—
Passengers carried__No. 11,172,891
Passenger mileage
1355266088
Rate per pass, per mile.
1.83 cts.
Earns, per pass, train m.
9,784,450
81.64
9,463,179
1906-07.
9,154
8,779,620
1071149528
1064564999
1.88 cts.
1.83 cts.
1052010356
1.89 cts.
$1.49
$1.56
Freight (tons) carried.. 20,551,368 16,549,616
Freight (tons) carr. 1 m. 7772012635 6372269174
15,040,325
5865089008
0.75 cts.
$1.63
15,733,306
0.77 cts.
0.76 cts.
$2.65
$2.27
$2.20
24,812,021
60,158,887
10,» 18,582
$
20,153,001
48,182,520
7,977,800
5946779961
0.77 cts.
$2.29
19,900,432
44,037,598
7,446,143
$
19,528,878
45,885,968
6,802,682
94,989,490
76,313,321
71,384,173
72,217,528
Transportation & traffic 29,861,889
Malnt. way & structures 13,653,938
Maint. of equipment
12,567,494
27,692,850
10,074,049
11,080,886
4,509,963
25,846,800
10,410,752
9,358,138
3,976,117
23,765,138
10,110,957
9,083,249
3,954*875
53,357,748
49,591,807
46,914,219
(69.92)
22,955,573
(69.47)
21,792,366
(64.96)
25,303,309
2,306,488
2,654,633
2,364,480
25,262,061
24,446,999
27,667,789
Rate per ton per mile—
Earns, per fgt. train mile
Earnings—
Passenger
Freight
Mall, express, &c__
$
Total earnings
Expenses—
General & miscellaneous
5,066,213
Total expenses
61,149,534
Per cent of operating
expenses to earnings.
(64.38)
Net earnings
33,839,956
Int. on deposits, bonds,
excess SS. earns., Ac.
3,335,713
Total
s.
$
-
37,175,669
Deduct—
Int. &
fd., incl. div.
Q. Ry. stock.
O. &
3,575,728
3,482,079
3,388,427
3,388,427
Int. on debenture stock.
5,449,536
5,034,631
4,441,132
4,175,416
Rentals & miscellaneous
891,676
910,323
940,518
947,912
Dlv. on common_a__(6 H)9,750,000 (6)9,000,000
(6)7,300, 00 (6)7,300,800
Dividend on preferred.. (2)2,214,933 (4)2,107,867
(4)1,916,407 (4)1,736,228
Int. on installments on
on
-
stock
new
subscrip
417,179
Fcr. SSL & pension fund
Total
....
Balance, surplus
a
|
...
980,000
880,000
880,000
780,000
23,279,053
13,896,616
21,414,900
3,847,161
18,867,284
5,579,715
18,328,783
9,339,006
Also 1% extra each year paid from Interest on land
sales, viz.:
Oct. 1.
This Is the miles operated at close of year
on which operations
April 1 and
x
are
based.
M%
given
BALANCE SHEET JUNE 30.
1910
1909.
1908.
Assets—
$
$
$
Cost of road and equipment
317,226,266 302,196,638 285,088,099
Steamships and appurtenances
18,460,161
18,085,886
17,826,983
Acquired securities held
69,076,971
63,153,544
57,418,369
Payments on subscriptions to Minn.
Real estate, hotels, Ac
Due on land sold and town sites
Advances and Investments
1
,
1,221,139
5,566,633
16.353,674
6,474,829
1,737,483
3,953,597
3.964,847
10,669,440
4,861,902
21,078,813
4,656,080
14,022,666
6,023,728
1,615,695
3,960,818
3,523,720
11,110,843
16,821",680
Total assets *
526,2 50,289 459,318,424 424,068,631
Liabilities—
Common stock
__150,000,000 150,000,000 121,680,000
Subscriptions to new stock
23,530,085
19,854,436
Preference stock
55,616,666
52.696,666
48,803,332
Consolidated debenture stock
136,711,616 128,930,132 115,657,078
Bonds (see "Ry. A Indus." section)
39,621,967 39,621,967 39,621.967
Current accounts
14,549,196
13,663,577
11,389,518
Interest and rentals
1,404,753
1,403,564
1,336,001
Sales of land and town sites
43,762,195 27,567,267 22,401,530
Equipment replacement fund
i_
2,678,039
974,015
870,283
_
Equipment obligations
Approp. for additions A improv’ts..
Reserve fund for contingencies
Steamship replacement fund
Surplus
_
Total liabilities.
1,360,000
6,295,421
3,809,839
4,040,667
y42,869,846
1,630,000
3,530,500
995,239
3,140,667
35,164,830
1,912,987
6,489,656
1,320,974
2,340,666
30,390,203
526,250,289 459,318,424 424,068.631
•
In addition to the above assets, the
company owns 7,539,722 acres
of land in Manitoba, Saskatchewan and Alberta
(average sales the past
year $14 84 per acre) and 4,474,094 acres in British Columbia.
V After
appropriating $7,000,000 for additions and Improvements
(similar appropriation in 1907-08 being $6,000,000 and in 1906-07, $5,000,000).—V. 91, p. 517, 896.
Chicago Rock Island & Pacific Ry.
{Statement for the Fiscal Year ending June 30 1910.)
Revenue and transportation
Freight
Passenger....
...
_
Mail and express
1
Miscellaneous
ReV. from oper. other than transport
kr
>
6,473,845
27,942,113
9,432,084
Agents, conductors, Ac
2,259,545
Miscellaneous accounts receivable
4,690,849
Advances to lines under construction
3,485,436
Materials and supplies
10,948,467
Temp’y invest’t fn Dom. Gov.secur’s 10,088,735
Cash
46,165,817
5
106,116
188,064
420,223
90,524
634,522
23,183
180,600
Aug 31
9,767
5,150
49,614
ANNUAL REPORTS.
'
2,952,751
After
RyLtHtAP.Aug
to
20,474
46,099
97,349
21,758
170,022
$
__
Electric Railway Net Earnings.—The
following table gives
the returns of ELECTRIC
railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which
monthly returns can be obtained, is given
once a month in these
columns, and the latest statement of
this kind will be found in the issue of
Aug. 27 1910. The
next will appear in the issue of
Sept. 24 1910.
Roads.
1
-
OPERATIONS AND FISCAL RESULTS.
1909-10.
1908-09.
1907-08.
Miles operated x
10,271
9,878
9,426
are
RAILWAY
Jan
_
$
Canadian Pacific Railway.
(.Report for Fiscal Year ending June 30 1910.)
The remarks of Sir Thomas G.
Shaughnessy, President,
will be found on subsequent
pages.
Below are given the
comparative income account and also the balance sheet.
*78,703
after deducting other income.
figures are after allowing for other Income and for discount and
exchange. The sum of 510,000 is deducted every month from surplus
and placed to the credit of the Renewal Fund.
* After allowing for other Income received.
a
St Jos (Mo)
x
25,300
55,665
121,006
.
1 to June 30
July 1 to June 30
409,060
34,996
503,450
Attires
2,204
*209,606
404,474
394,540
Jan
def 243
♦
Syracuse A El—
Apr 1 to June 30
defl,123
*180,581
408,456
N Y Ontario A Western July
Norfolk A Western
July
Pere Marquette
July
These
£ These
1,154
6,550
635
12,633
Auburn A
Bal. of Net Earns.—
Current
Previous
Year.
Year.
Year.
$
*
162,070
564,159
Year.
$
598
a67,247
Oharges and Surplus.
—Int., Rentals, Ac.—
Current
Previous
Roads.
*14,172
178,186
465,605
96,943
Texas..July
Interest
—Bal. of Net Earns—
Current
Previous
Year.
Year.
$
$
80,251 *def 17,464
93 ,458
Central of New Jersey. .July
Chicago Great Wes tern. July
Colorado A Southern
July
Cuba RR
July
Denver A Rio Grande. .July
Duluth So Sh A Atl
July
Hocking Valley
July
Mineral Range
July
Missouri Kan A
Previous
Year.
711
1909-10.
$
42,218,881
19,378,174
3,375,681
V * 774,380
473,463
1908-09.
*
39,158,053
17,883,379
3,056*761
720,281
366,413
37.899,356
16,693,111
2,822,357
'
701,801
:.r 367,572
667220,579
161,184,887
58,484,197
1907-08.
9
v
«
♦
j
Total operating revenue.
1,949,395
1,659,510
48,069,369
2,876,701
42,513,495
18,671,392
2,270,865
42,136,180
16,348,017
1,789,895
15,274,509
16,400,527
14,558,122
15,497,741
16,611,998
14,686,756
9,129,875
1,619,985
3,743,272
(5%)
8,861,223
1,567,967
3,930,019
(514%)
8,413,222
1,545,232
3,929,785
(5M%)
1,004,609
2,252,789
798,516
expenses
18,151,210
Operating Income
Other Income.
223,232
Total Income
$
9,051.830
7,512,889
1,441,214
8,078,026
7,358,590
1,486,473
23,600,342
1,612,749
Maintenance of way and structures.. 10.673,387
Maintenance of equipment.
8,455,745
Traffic expenses
1,795,262
Transportation expenses
25,195,579
Total operating expenses
Net operating revenue
Taxes
22,848,052
211,471
128,634
Deduct—
Interest
Rentals
Dividends
-
.....
Rate of dividends
—...
Balance, surplus
GENERAL BALANCE SHEET
$
Assets—
Bead and equipment
Securities of proprietary, &c.,
cos. pledged
3
9,019,834
5,511,717
1,739,697
do
do.
unpledged
Advances
Miscellaneous Investments
Cash
Secur. lss'd or ass’m’d In treas.
4,541,461
4,228
Marketable securities
17,081,147
Loans and bills receivable...
596,515
....
%
75,000,000
228,002,000
795,879
Traffic, &c., balances
Audited vouchers and wages.
Mlseell. acc’ts payable
Matured int., dlvs. & rents
unpaid
Matured mtge., bonded and
secured debt unpaid
Working adv. due other cos..
5,254,494
323,070
2,683,911
23,000
189,800
735,644
1,808.001
Other working liabilities
1,142,880 Int., dlvs. & rents accrued..
2,889,530 Accrued taxes
299,507
balances (net).
Sfflo,and
Ac.,conductors
Mlseell. acc’ts receivable
snta
Materials and supplies
Other working assets
Accrued Income not due
Temporary adv. to prop.,
30 1910.
-
Stock
Funded debt
1,354,229
1,193,907
8,132,025
reserves
6,224,133 Operating
*
1,540,956 Other deferred credit Items.
392,302
&c.,
Add’ns to property since June
30 1907 through Income
Profit and loss balance
17,292,816
1,433,345
Other deferred debit Items..
342,863,143
Total
64,368
...
1,534,707
151,382
7,798,005
working funds, &c
Bents and insur. paid in adv.
Special dep. acc’t new eq. tr.
cos.,
342,853,143
Total
37,637,000 of this represents unpaid equipment Invoices not yet due
special deposits on the assets
*
and Is offset by the same amount Included In
side.—V. 90, p. 1675.
Norfolk & Western Railway.
{Report for Fiscal Year ending June 30 1910.)
will be found the report of Mr.
On subsequent pages
L. E. Johnson, the President, and also the comparative
balance sheet for two years. Below we publish comparative
tables and statistics for several years:
OPERATIONS, EARNINGS, &C,
Miles operated June
1909-10.
1908-09.
1907-08.
1906-07.
1,951
1,941
1,920
i ,877
968
946
395
946
397
843
383
38,418
1,049
35,882
1,031
37,276
1,007
36,910
10
10
10
30.
Equipment—
Locomotives
Passenger cars
Freight cars
393
Maintenance-of-way
Barges
Operations—
carsl
301
9
4,250,905
4,919,535
4,824,650
4,930,108
Pass’rs carried 1 mile— 181,068,855 171,270,331 209,279,408 176,082,609
Passengers carried
§;ate
dns freight
per mile.
per pass,carried
2.168 cts.
2.127 cts.
1.900 cts.
25,412,529
20,049,203
*5,377,021
18,608,190
Tons fr’t carried 1 mile. *6,722,496
0.447 Cts.
Rate per ton per mile
635
Av. rev. tr. load (tons).
$2.8594
Earns, per fr’t tr. mile. _
$1.1988
Bams, per pass. tr. mile
‘
Gross
earns, per
$18,028
mile
*4,985,916.
0.460 cts.
0.481 cts.
616
571
$2.8516
$1.1812
$2.7681
$1.2072
$15,235
$15,397
20,183,218
*5,252,561
0.495 cts.
569
$2.8378
$1.3874
$16,612
EARNINGS, EXPENSES, Ac.
Earnings—
Passenger
Freight
__
_
__
_
_
...
-
Mail
Express
Miscellaneous
.
__
_
_
__
-
Total
...
Expenses—
Maintenance of way, Ac
Maintenance of equipment
Conducting transportation
...
—
General
Traffic
...
.
—
...
1909-10.
1908-09.
1906-07.
$
3,924,890
30,037,796
338,449
461,655
301,080
$
3,642,837
24,710,591
294,453
426,047
253,173
$
3,977,482
23,990,630
290,578
419,324
254,203
35,063,870
29,327,101
28,962,217
3,752,045
5,951,907
10,069,726
721,275
551,806
3,331,888
4,919,435
8,346,992
644,335
487,106
3,384,709
4,910,242
9,324,276
669,909
475,578
..l. 21,046,759
Total
Net earnings
*
...
...
14,017,111
17,729,756
11,597,345
18,764,714
10,197,503
Three ciphers (000) omitted.
INCOME ACCOUNT.
1909-10.
Reeeipts-
Net earnings
Interest, general account
Rents
Hire of equipment
Other income
14,017,111
534,121
57,147
554,938
Net operating revenue Increased from $1,098,757 In 1908 to $1,432,927
In 1909 and to $2,174,383 In 1910, showing that, with 29% more gross rev¬
enues In 1910 than In 1908 the net operating revenue was Increased nearly
98% and with 24% more gross revenue than In 1909 the net operating
revenue was Increased 52%.
Unusual Traffic Density.—The traffic density, as representing the num¬
ber of tons moved one mile per mile of road per annum on the main line
between Huron and Pittsburgh Junction, averaged 5,196,340, and between
Brewster and Pittsburgh Junction the average was 5,617,699,
For July
1910 the traffic density between Brewster and Pittsburgh Junction was at
the rate of 6,368,232 tons one mile pea- mile of road per annum, and the In¬
dications are that August will exceed somewhat this figure, which Is proba¬
bly the greatest traffic density of any single-track railroad fn operation.
Equipment.—Fourteen locomotives were repaired at outside shops, cost¬
ing $95,452; at our own shops (now practically completed) we could have
saved thereon $45,934.
Rolling Stock at End of Year—Average Cost of Repairs.
1908-09.
1909-10.5-Yr. Ac*
No. locomotives—Aver, repairs...
(225)$3,176
(198)$2,771 $2,220
No. pass, cars—Aver, repairs
(76) $835
(76) $681
$60$
No. freight cars—Aver repairs
(13,039)
61
(11,929)
44
40
At the close of the fiscal year 87% of the locomotives were In working
condition; only 4.93% of the car equipment Is In bad order.
Transportation Expenses.—Transportation expenses show an increase of
21.52%, revenue ton miles Increasing 23.61%, freight train miles Increasing
19.27%.
The increase In transportation expenses are mostly accounted for
as follows: Station employees, 20%; yard conductors and brakemen, 24%:
yard englnemen, 27%; road englnemen, 22%; operating Joint yards and
terminals, 80%; road trainmen, 23%; Injuries to persons, which Includes
some large verdicts for Injuries occurring In former years, 133%.
Traffic.—Earnings from freight traffic amounted to $5,928,569 55, or
an Increase of 23.40% over the previous year and an Increase of 8.9% over
1907, which was the most prosperous year prior to 1910.
Coal traffic con¬
tributed 44% of the freight tonnage In 1910, nearly 47% In 1909, 45% In
1908 and 47% In 1907.
Earnings from passenger trains, including mall
and express, were $698,115, an Increase of $73,220.
Renewals, Ac.—There was purchased for renewals and improvements
3,702 gross tons of new rail.
A total of 464 gross tons of 90-lb. rail was
placed In the main line.
There have been approximately 170 miles of track ballasted with gravel
and seven miles with slag and cinders.
The work of ballasting the entire
line Is progressing rapidly, and when the work Is completed there will be
twelve inches of ballast the entire length of the line.
Cost of Maintenance of Way per Mile of Track (All Tracks).
[In 1909-10, main track, 522 miles; passing, &c., 332 m.; total, 854 m.]
1902-03. 1903-04. 1904-05. 1905-06. 1906-07. 1907-08. 1908-09. 1909-10.
$1,139
$937
$1,045
$961
$862
$722
$976
$898
In 1908-09, Including proceeds of receiver’s certificates, the average
outlay was $1,018 per mile.
Ties (Per Mile) Put in for Renewal of Main Track and Per Cent of Total.
’02-’03. ’03-’04. *04-’05. ’05-’06. ’06-’07. ’07-’08. ’08-’09. ’09-’10.
256
260
360
254
Av. No.
279
214
219
272
Per cent
9.9%
9.1%
9.0%
9.2%
7.6%
7.6%
9.4% 12.4%
During the past fiscal year 42 bridges at various points on the line have
either been replaced with cast-iron pipe and filled or rebuilt with steel or
•oncrete arches.
Two bridges have been eliminated entirely.
Of pile
and frame trestles, 2,412.6 feet have been replaced with cast-iron pipe and
filled; 610.6 feet have been reconstructed with steel; 699 feet replaced with
concrete arches and filled and 489 feet eliminated entirely; total, 4,211 feet.
The new steel bridges now being constructed are designed to carry the
weight of modern rolling stock.
General Remarks.—In addition to deductions from “total Income,”
$148,658 has been expended during the year In connection with “additions
Total
and betterments” to the property.
Grades.—The work of reducing grades on the Toledo
Division to 0.4%
and .5% opposing eastbound movement
Bolivar and Zoar nearly completed.
of removing our tracks from the C. & P.
enable that company to lay second track,
was completed.
A rip-rap wall was built for approximately 1 H miles
along the Ohio River and 87,000 cubic yards of fill placed, the United States
Government directed that we build this wall along the entire face of the
exposed embankment. The work as now determined is 80% completed.
Sugar Creek A Northern RR.—During the year 5 miles of second main¬
line track have been completed; also 3 3-7 miles of passing tracks, the re¬
mainder of the East Yard tracks and all the tracks In the West Yard.
Changes in Balance Sheet.—The balance sheet has been re-castas ordered by
the Inter-State Commerce Commission effective for the year ended June 30
1910.
It was thought best to carry Into the receiver’s balance sheet
equipment obligations unpaid, charging the entire amount to “property
Investment,” and under liabilities as “funded debt” the obligations unpaid
opposing westbound movement
Is progressing rapidly: between
Removal of tracks.—The work
RR. right of way, far enough to
as
of June 30 1910.
Expenditures under Receiver's Certificates, Year 1909-10.—Such
expenditures (a)for additions and betterments aggregate $304,784 (notably
$18,514; freight station and tracks, $102,330; passing and other
tracks, $16,845; removal of tracks, right-of-way C. & P., $38,752; grade
reduction, $55,578; Improvement of yards and Interchange facilities, $33,399; overhead crossing, $20,000), and (b) rehabilitation of property, $165,979
(repairs to engines, $26,495; trestles, $7,410; bridges, $26,037; ballast,
$68,959; dock Improvements, $20,471, &c.); grand total, $470,763.
Authorized
air brakes,
OPERATIONS AND FISCAL RESULTS.
1909-10.
1908-09.
Average rev. mileage—
442
457
Operations—
Total tonnage (revenue)
9,974,674
8,331,704
Tot. tonnage 1 m. (rev.) 1100,045,300 889,916,252
1.801,938
1,510,844
Freight train miles
Av. rev. tr.-load (tons)589.02
610.48
Rev. per ton per mile
0.539 cts.
0.540 cts.
$3.29
1,440,980
37,681,041
Rev. per pass, per mile.
1.50 cts.
Gross earns, per mile...
$15,198
Net earns, per mile
$4,755
Rev. per
1908-09.
1907-08.
$
11,597,345
459,475
5
10,197,503
137,925
51,207
709,567
22,265
54,373
467,265
Results.—Comparing with previous year, gross earnings Increased
from 35,633,645 to $6,950,437, or 23.37%.
Operating expenses show an
Increase from $4,200,718 In 1909 to $4,776,054 In 1910, or 13.7%, the
operating ratio decreasing In the last three years from 79.64% In 1908 to
74.56% in 1909 and 68.72% In 1910.
■
ROCK ISLAND LINES JUNE
Liabilities—
’
280,951^792
General
1907-08.
5
1908-09.
1909-10.
Operating Expenses—
General
[Voi.. uosxxi.
THE CHRONICLE
U2
train mile
Passengers (No.)
Passengers 1 mile (No.).
.
INCOME
1909-10.
Total
Deduct—
Interest on bonds
Interest on car trusts
Interest on 5% gold notes
Taxes
Del. int. on Pocahontas Coal & Coke
Co. bonds
4% dividends on preferred
Dividends on Cbmmon
Betterment fund
Advances to subsidiary companies,
branch lines and miscellaneous
Rents
Total
Surplus for year
Discount 6b commis’n on bonds sold.
Surplus
15,163,317
12,578,458
11,118,467
4,179, 530
3.985,520
378,667
379,046
1.008,800
3,785,013
442,667
62,500
1,020,800
395, 556
206, 154
1.118, 964
138, ,000
150,000
192,00
,668
919,668
919,65
(5)3294!,843(4)2578,768(4 3^)2901,11
3,573,,598
1,730,580
1,360,00
97, 710
122, 238
8,175
152,817
87,371
14,046,261
11,292,041
1,286,417
800,000
10,771,121
347,346
346,980
1,117,056
41,878
1,075,178
486,417
366
-V. 91, p. 463, 333.
Wheeling & Lake Erie Railroad.
{Report for Fiscal Year ending June 30 1910.)
Receiver B. A. Worthington, Cleveland, O., Sept, 1,
wrote in substance:
$
2,841,679
3,086.890
565,945
3
87,690
Operating revenue—
Coal freight
Other freight
Passengers
Mall and express
$3 18
1,101,790
30.442,152
1.63 cts.
$12,741
$3,241
1908-09.
$
2,338,053
2,466,369
497,714
86,154
189,110
56,245
264,800
103,433
Total oper. revenue..
Operating expenses—
6,950,437
5,633,645
Maint. of way, &c
Malnt. of equipment...
Traffic expenses
766,714
1,389,684
617,956
General expenses
Total oper. expenses.
Net oper. revenue
Taxes
Operating income
Outside operations
Total
Hire of equipment—bal.
Miscellaneous
Total income
r_
442
1906-07.
442
7,818,298
9,608.590
933.018,545 1130,880732
1,624,261
1,869,406
0.478 cts.
$2 74
1,090,894
30,643,746
1.60 cts.
0.481 cts.
$2 91
1,004,986
27,950,502
1.66 cts.
$13,850
$4,520
574.43
$12,205
$2,485
604.94
ACCOUNT.
Miscellaneous
Other than transport’n.
Transportation expenses
1907-08.
1,380,978
1907-08.
$
2,442,351
2,013,088
1906-07.
$
2,558,969
167,600
2,881,759
464,736
98,947
44,317
75,479
5,397,001
6,124,207
667,479
1,148,755
79,7581
2,249,368/
152,884
728,469
1,041,572
490,688
94,807
188,466
85,648
2,366,947
167,061
74,231
1,947,807
4,776,054
2,174,383
261,504
4,200,718
1,432,927
4,298,244
1,098,757
260,336
252,043
4,125,370
1,998,837
226,917
1,912,878
935
1,172,591
902
846,714
1,660
1,771,920
1,771,920
179,746
2,197,809
157,520
1,913,813
Dr.55,486
86,847
1,173,493
848,374
Dr.59,567
32,980
113,394
45,132
120,431
1,945,175
1,146,906
1,006,900
1,892,351
Sept. 17 1910;
THE
1009-10.
1900-00.
1907-08.
CHRONICLE
713
1906-07.
inclined escalator at 177th St. and
Boston Road,
signals,
installing 3,000 k.w. rotaries in sub-stations Nos. 13,speed-control
14 and 18, new car
storage
yard
at
242d
St.
and Broadway,
interest on mtge. bonds
0:633,030
installing
321,110
centre side doors and
1,033,030
1,033,030
door-signaling devices on subway cars, &c.
Int. on equip, obliga’ns.
120,299
132,653
140,317
155,571
Improvements in Service.—General expenses for the
lnterest ana discount
68,250
year decreased $117,50,577
41,354
51,449
137, the result of decreases In general office salaries and
Int. on receiver’s certfs_
234,112
98,123
expenses, law ex¬
penses and miscellaneous.
Discount onrec’rs certfs.
14,280
61,670
There was installed during the year in
Rents paid..subway
92,753
cars, both local and ex¬
37,305
30,787
125,369
press, an electric signaling device, by means of which the
Rental of equip, from
closing of the
last door automatically signals the
Wabash RR
motorman,
indicating
that the train
182,160
362,340
is ready to proceed.
194,703
Its use has materially reduced the
Equip, obllg’s pd. by rec’r. 245,000
237,877
length of station
stops. The introduction at 96th St. of speed control signals, which permit
trains to operate safely under closer
Total deductions
headway, proved so successful that
1,407,724
1,119,474
1,610,827
1,560,122
their installation was extended during
Bal., surp. or deficit
the year to include the following
sur.537,451
sur.27,432 def.603,927 sur.332,229
express stations: 96th St., all tracks; 72d St.,
express tracks; Grand Central,
x Deductlo s
In 1910 on account of
mortgage bond Interest ($633,030)
all tracks; 14th St. and Brooklyn Bridge, express tracks.
include 12 months’ interest on the
following Issues: Lake Erie Div. 5s,
Centre side doors are now being installed on all cars
operated in the ex¬
*2,000,000, $100,000; Wheeling Div. 5s, $894,000, $44,700; extension and press service In the
subway.
impt. 5s, $409,000, $20,450; consolidated 4s, $11,697,000,
The company has arranged to extend over the entire
$467,880.
As
to deductions In 1908-09, see V. 89, p. 842.
system the use. of
the automatic recording instrument which was
tried successfully on the
2d Ave. line of the Manahttan Ry.
This device provides a printed record
BALANCE SHEET JUNE 30.
indicating at the end of each trip the degree of economy exercised in the
Note.—Comparisons with figures for earlier years are Inaccurate In
use of electrical current.
Motormen operating in the most economical’
many
cases, owing to changes prescribed by Inter-State Commerce
manner
receive a substantial bonus at the end of each month.
Commission.
1910.
1909.
Improvements and Additions in Course of Construction.—New
1908.
A ssets—
subway sta¬
$
tion at St. Nicholas Ave. and 190th St. [can
$
$
probably be used
Feb, 1
Road and equipment
58,284,465 58,343,449 59,432,245 and be fully completed by Mayl 1911]; additional elevators at by
181st St.
Materials and supplies
and St. Nicholas Ave.; terminal yards at 242d St. and
436,863
Broadway. Of the
Securities pledged and unpledged— 12,360,6181
100 additional cars ordered for the Manhattan
2,289,624
2,290,620
Ry., 80 have been received
Miscellaneous Investments
and 76 are in service, namely 20 trailer ahd 56 motor
473,299/
of the 250 addi¬
cam,*
New equipment in suspense
tional cars ordered for the Subway, ilO of the motor cars
2,579,500
2,819,500
have been received
Advances for construction
and 94 are in service.
2,629,838
The fire-sprinkler system in the 159th St. and
1,174,550
8tn
Cash on hand..
Ave. Elevated yard should bC completed
2,455
6,289
320,749
by Feb. 1 1911.
Authorized During the Year.—Twenty new steel trailer flat
care, 10 each
Isoellaneous accounts receivable—
for the Subway and Manhattan Ry.; 75 additional steel
130,760
683,145
976,540
motor; aubWay cart
Other working assets
ordered to provide for 10-car express and 6-car local
447,774
100
trains;
additional
Temporary advances
cars for the Manhattan Ry. (60 motor ahd 40
46,106
trailer cars) to provide for
Other deferred debit Items.
144,709
125,743
increasing
travel;
new terminal station oh Subway at 181st St. and Boston
Profit and loss
Road (Zoological Park); for 59th St. power
835,293
369,443
house twb 7,500 k.w. turbine
units complete, and for sub-stations three 3,000 k.w.
rotaries; for Manhattan
Total assets.
75,358.998
Ry. one 3,000 k.W. rotary, with additional feeders to sub-statiOns Nos.
65,571,743
66,276,518
Liabilities,5
and 7; equipping of all Subway cars with electrical
Common stock
synchronizing brake
20>.000,000
control added to the present pneumatic brakes
20,000,000 20,000,000
and the substitution of jfifew
First preferred stock.
4[,986,900
brake cylinders; installation in sub-station No. 7 of the
4,986,900
4,986,900
Manhattan Division
Second preferred stock.
111,993,500
of one new 3,000 k.w. rotary.
11,993,500
11,993,500
Mortgage bonds
35>,000,000
Longer Trains.—The work of extending the station platforms of the
23,000,000 23,000,000
Equipment trust obligations
Subway Division to accommodate 10-car express and 6-car local trains
2,579,500
2,819,500
Loans and bills payable
1[,155,666
should be sufficiently advanced to permit the
1,155,000
operation of 6-car locals by
Traffic balances
Nov. 1 and 10-car express trains
7,8651
by Feb. 1 1911. The lengthening of them
Vouchers and wages
785,155 (■
platforms
will
Increase
the
826,986
carrying capacity Of the Subway
3,422,527
Miscellaneous accounts payable
practically
23% at ah expenditure of approximately $1,500,000.
5.163J
The cost of the
Interest, &c., due
work will be paid for by the city as an extra under
2,455
6.090
contracts Nos. 1 and 2,
Interest accrued, not due
and will be amortized in the same manner as the cost of the
968,344
568,344
original
Other deferred credit items
454,616
Injuries and Damages.—Claims, suits ahd Judgments In 1910, Subway.
454,616
$214,198,
Replacement account.
decrease
808
$7,889; legal expenses in 1910, $107,411, increase, $1,994. With
Profit and loss
an increase of 48,108,053 in the number of
54,091
passengers carried, the aggregate
of verdicts rendered against the
company during the year was $27,372.
Total liabilities...
75,358,998 65,571,743 66,276,518
Only $19,998 in Judgments are pending on appeal.
-V. 91, p. 216. 96.
Legislation.—With the approval of Mayor Gaynor and the Public Service
Commission, the last winter’s Legislature passed a bill intended to
pa VC
the way for the general third tracking and extensions of
St. Croix
the Manhattan
Ry. system by avoiding legal delays in condemnation proceedings and facili¬
tating immediate construction of the same when completely aUthortoed*
Sheets
1910 and 1909, Filed in
in accordance with our
plan. Similar efforts resulted to the enactment of a
1910.
measure allowing a transfer, subject to permission of the
1909.
|
1910.
1909.
Commission ahd
Assets—
the Mayor, of the Belmont Tunnel property to another railroad
$
$
LiatrQittes—
j
$
$
corporation
Real estate & mach.3,478,728 3,636,987 (Capital stock.
Governor Hughes signed both bills.
1,500,000 1,487,600
Material, stock In
Taxes.—The Federal Excise Tax amounted to about
j Accounts payable
102,190
$60,796
for the
141,840
process
calendar year 1909 and has been paid under protest.
465,869
598,131 (Funded debt
An equitable action
2,110,OfiO 2,158,000
Cash & debts receiv. 487.711
brought
one
of
our
to
by
stockholders
348,730(Floating debt
enjoin payment of this tax raises the
205,253
321,272
Investments
83,798
general Constitutional questions and also presents the peculiar conditions
| Reserve
39,175
39,712
under which the company operates the
| profit and loss.
municipally-owned Subway, includ¬
559,488
435.424
ing its exemption from taxation.
The action will be heard by the United
Total
States Supreme Court sometime in the toll.
...4,516,106 4,583,848| Total
4,516,108
4,583,848
^-V. 83, p. 1596.
The proceeding against the State Comptroller to review his
action in
assessing this company for the State franchise tax measured by A percentage
upon Subway earnings and upon dividends paid to excess of 4% was
argued
before the Appellate Division in March I91u, and the assessment
Transit Co., Now Tork
for excess
dividend taxes was annulled. This would mean the credit to the
company
of taxes already paid to the amount of
for Fiscal Year ehded June 30 1910.)
$186,375 and a saving to future
taxes of $52,500 a year.
The State has appealed to the Court of Appeals,
President Theodore P.
and It is probable that an even greater reduction Will be
New
obtained.
1 1910
The long litigation over the
special franchise taxes of the Manhattan Ry.
wrote in substance:
Co. is about concluded, the tax for the
year 1909 being reduced by *139’,fl>17;
it is confidently expected that the
General Results.—Gross operating revenue for the
large assessments made by the State Tax
year ended June 30 1910
•hows an Increase of $2,463,254, or 9.28%,
Commission wHl be further reduced upon appeal.
the result of a gain on the Sub¬
way Division of $1,741,505, or 14.28%, and on the Manhattan
Practically all of the litigation over the special franchise assessments
Ry. Division
of $721,749, or 5.03%.
Operating expenses Increased $265,699, or 2.47%, upon subsidiary and affiliated companies has been concluded and substan¬
the result of an Increase on the
tial reductions have been secured.
Subway Division of $208,829, or 4.59%,
and On the Manhattan Ry. Division of
Subteat/ and Elevated Extensions.—The
$56,871, or .92%. These increases
are largely the result of Increased
fore the Public Service Cornmlssibn for thecompany now has a proposal be¬
wages during the year.
Independent construction of the
The percentage
Of operating expenses to gross
Elevated Improvements, and before the
operating revenue was 37.99%, as compared
Mayor and the Public ServiceCom¬
with 40.52% last year, a decrease of
mission its suggestions for nCw Subway
2.53%.
as follows:
construction,
Net operating revenue was
$17,974,505, as compared with $15,776,951
last year* an increase of $2,197,554, or
(A) Elevated Improvements.
13.93%, the result of a gain on the
Subway Division of $1,532,675. or 20.05%, and oh the Manhattan
Ry.
(1)
Second Ave. Line: Completion of third track
Division of $664,879, or 8.17%.
from City Hall to 129th
St.; (2) Extension from 2d Ave. line across Queensboro
The total amount of taxes was
Bridge to QueenS$1,750,422, as compared with $1,799,807 boro Bridge
last year, a decrease of $49,385, or
free
Plaza, with
transfers, upon payment of a single 5-cent fart,
2.74%, the result of an Increase on the to all parts of
the
elevated
Subway Division of $158,684, or 238.28%, and a decrease on the Man¬
system; (S) Third Ave. Line:
of third
track, Pearl and Chambers Sts. to about 147th St., withCompletion
hattan Ry. Division of $208,070, or
12.01%. This Increase in Subway
privilege of there¬
after extendng the third track to Bronx
Division taxes Is due to the
Park;
and
tbe
construction of a
policy Inaugurated July 1 1909 of writing off two-traek connection from
from earnings an amount sufficient to meet
about 143d St. through Willis and Bergen aves.
the State tax upon the gross
to the Subway at or about Brook Ave., so as to
earnings of the Subway Division and the State tax on the
divert tbe West Farms trains
to the 2d or 3d Ave. lines and relieve the
company’s capital
stock.
These taxes were paid under
pressure upon the Subway; (4) Ex¬
protest and are now in litigation.
The
tension of the 3d Ave. line from Pelham Ave.
decrease In the taxes of the Manhattan
Ry.
Division
Is the result of a de¬
Hill Road and White Plains Road to Becker through Webster Ave., Gun
cision of the Court of Appeals
Ave., with the privilege Of
confirming the claim that the company is thereafter
entitled to benefits of equalization
building a third track from Pelham Ave. to Becker
In the matter of special franchise taxes.
Ave.; (5)
Ninth Ave. Line: Completion of third track from
Non-operating Income was $411,024, as against $1,001,775
Rector St. to 155th St.;
last year, a
(6) Jerome Ave. extension: Cohstruction of a two and
decrease of $590,751, or 58.97%,
three-track
largely due to the policy inaugurated road from about 149th St. and
elevated
July 1 1909 of not crediting to Income account the Interest
8th Ave. to about 162d St. and River
on advances
Ave.,
thence up River and Jerome avenues to about 194tb
made for the construction of the
Belmont Tunnel.
with
St.,
the
privilege
of thereafter constructing a third track between
Total income deductions Increased
162d and 194th streets.
$163,864,
or 1.58%. the result chiefly
The advantages of this construction are:
of an Increase on the Subwsv Division
of $151,460. or 3.33%.
(a) The third-tracking can bfe
completed in about two years, thus bringing considerable
[The reduction of $163,864 In the “Income
deductions’’
Is
rapid transit relief
largely
due
to
to
the city within three years’ less time
the retirement of $10,000,000 5%
than
can be obtained by
3-yeat
notes Sept. 1 1909; exchange
Subway
of $1,451,000 of 3-year 6% gold notes gold
construction; (b) the pressure upon the 3d Ave. line, the travel
due May 1 1911 for $1,462,000 of
on which
is now more congested than
45-year 5% gold mtge. bonds (and $3,656 In cash)
upon
any
of
the
rapid
transit
lines
in
the
eltjr,
during the year ended
will be relieved; (c) if the third track is
June 30 1910, and issue of
$10,000,000 45-year 5% gold mtge. bonds In
completed upon the 2d and 3d AVe.
June 1909; to the accrual of
lines, it will be possible to divert a large number of trains
$200,000 on the first sinking fund payment
now using tkfe
West Farms Division of the
due under 45-year 5% gold mtge., and to
Subway to the 2d and 3d Ave. lines, affording
a reduction of $133,128 in the
better service to the Bronx and
Interest on unfunded debt.]
enabling the company to materially In¬
crease
its train movement on the
The surplus over diviueuds of
9% on the capital stock was $2,932,147,
upper Broadway Division of the Subway,
as well as relieve the
as compared with
congested conditions along Lenox Ave.
$1,439,823 last year, an Increase of $1,492,824, or
103.64%
The operation of the Belmont
The number of passengers carried was
Tunnel as a part of the existing Subway,
562,788,395, as compared with with free
514,680,342 last year, an increase of 48,108,053,
transfers,
upon payment of a single 5-cent fare, between
or 9.35%, the result of a
Long
Island City and all parts or Greater
New York reached by the existing
attan Ry. Division of 17,576,084, or
or
12.81%,
and
on the ManSubway
lines.
6.36%. The increase In the number
of passengers carried
during the year was distributed among practically all
stations of both the Subway and Manhattan
(B) Suggestions for New Subway Construction.
Ry. divisions.
RiOht to Exchange Notes for Bonds.—The $21,973,000
of 3-year 6% gold
West Side Lower Manhattan and
notes dated May 1 1908 are
Brooklyn Extension: From Times
exchangeable for 45-year gold mtge. 5% bonds
Square through 7th Ave., as extended, West Broadway and
on Nov. 1 1910 at the rate of
$99 in notes for $100 In bonds; provided that
Greenwich St.
to Liberty St. as a four-track
five days’ written notice of Intention to
and
road,
from Liberty St. to the Battery
make such exchange shall have been
as a two-track road, with a branch
given by the noteholder to the Guaranty Trust Co.
from the
connecting
with
this
extension
of N. Y., trustee.
Intersection of Greenwich and Liberty streets, under
Additions and Betterments.—The amounts
Liberty St. and East
chargeable to capital account
River
to
to
Pineapple St.
during the year aggregated $4,326,336, via., chargeable to Manhattan
Brooklyn and under Pineapple and Fulton streets
to a connection with the
Ry.
Co. construction account, $1,295,033,
Boroklyn extension of the existing Subway, at
notably: Additional stairways at
Borough Hall as a two-track road, and a further extension of the
three stations, additional motor and trailer
existing
cars, employees’ recreation
Subway from Atlantic Ave. through Flatbush Ave. and Eastern Parkway
buildings, new station at 180th St. and 3d Ave., installing
3,000 k.w. ro¬
to Nostrand Ave. as a four-track road,
taries in sub-stations Nos. 5 and 7, etc.; and
■;
East Side Upper Manhattan and Bronx Extension:
The expenditures on the Subway include with Subway Division, $3,031,302.
From about 35th
others: Completing one addi¬
St.
through
Park
Ave,
and
tional 5,000 k.w. low-pressure turbine and
private property at or about 40th St. to Lexing¬
installing two additional 7,500 ton Ave., thence up
k.w. low-pressure turbines and condensers with
Lexington Ave. across the Harlem River to a point
south of 149th St. as a four-track road;
59th St. power station; employees’ recreation auxiliary equipment at the
thence dividing, with a two-track
buildings, steel motor cars
connection to the West Farms branch of the existing
Subway, and two
Deductions—
_
_
Sue from agents and conductors
3,681
„
(Balance
Paper Company.
of April 30
Interborough Rapid
(Report
Mass.)
City.
Shonts,
York, Sept.
‘
gain on the Subway Division of
30,531,969,
.
.
.
[VOL. LXXXXI.
THE CHRONICLE
714
tracks up Mott Ave. through 153d St. and up River and Jerome avenues to
194th St., with the privilege of constructing three tracks between lead St
and 194th St.; the extension through River and Jerome avenues to be built
as an elevated structure.
There may also be considered an elevated extension from Pelham Ave.,
northerly up Webster Ave. to Gun Hill Road, easterly from Gun
to White Plains Road, northerly from White Plains Road to Becker Ave.:
with the privilege of building a third track from Pelham Ave. to Becker Ave.
All of the foregoing lines are designed to be built with city money,
Hill Road
Sour
company
to equip
and operate
them
a part
of the existing
agreeing
system,
with free
between
all as
new
extensions
and the
ubway
connections
The city to take all net
present Subway for a single 5-cent fare.
profits
from the commencement of operations on any portion
of the new subway extensions.
The net profits after five years to be equally
divided between the city and the Interborough company.
The net profits
to be determined after deducting from the gross revenue: (a) Maintenance
of equipment; (b) maintenance of way and structure; (c) cost of conducting
transportation; (d) general and administration expenses; (e) taxes, if any;
(f) the actual annual charges of the company for carrying the cost of equip¬
ment and providing a partial sinking fund of % of 1 % per annum to meet
obsolescence; (g) interest on bonds issued by the city to defray cost of con¬
struction, plus 1% per annum for a sinking fund.
Any annual deficit of
Interest on city bonds to be paid by the city, and all interest so paid, to¬
gether with a sinking fund of 1% per annum from the commencement of
operation, to be a preferred and cumulative charge against the net earnings
of the road, and to be nald In full before anv division of the profits Is made.
The terms of the lease to be at least co-termlnous with the unexplred
for the first five years
portion of the term of the Subway built under contract No. 1, but the city
to have the right at auy time after 10 years to take back the extensions upon
the reimbursement to the company of the cost of equipment, plus 15%.
Therefore by the construction of a short cross route in the neighborhood of
40th St., the subways which the city would have within Its power to take
back would constitute, in connection with the new Brooklyn extension, a
north and south line In Manhattan and the Bronx, duplicating the north
and south line now operated by the Interborough Rapid Transit Co.
These logical extensions of the existing Subway will not only double its
present carrying capacity, but will enable passengers to travel directly to
and from all Important centres without transferring.
The Pennsylvania
RR. Terminal can be connected with the West Side Subway at 42d St. in
18 months; the Bronx extensions can be completed In about the same time,
while the Brooklyn extensions can be placed In operation in 15 months,
and the Belmont tunnel in 3 months.
As to the use of city money versus private oapital, there can be no differ¬
ence of opinion.
Inasmuch as the city receives all of the profits for the first
five years and shares in the profits equally with the company thereafter,
BALANCE SHEET
present system.
Unamortized debt
disc. & expense.
Total assets
*
13,977,144
411,024
1,001,775
Gross Income
16,635,107 14,978,919 12,970,309
Total lnc. deduc.10,552,960 10,389,096 9,269,650
corporate inc 6,082,147 4,589,823 3,700,659 3,716,444
Dividends
..(9)3,150,000 (9)3150000 (9)3150000 (9)3150000
1,890,560
3,168,890
2,887,500
550,659
566,444
281,390
2,932,147 1,439,823
44.57%
42.89%
42.65%
37.99%
40.52%
Passengers carried.562788395 514680342 483285640 449287884 395716386
Surplus
OF
JUNE
YEARS
DIVISIONS FOR
OPERATIONS BY
ENDED
1910 AND 1909.
30
-1908-09.-
-1909-10.-
Manhattan
Ry. Div.
$
Subway
Division.
Division
$
$
.14,723,224 13,443,805 13,847,579 11,917,313
331,919
485,814
488,701
273,687
Manhattan
Subway
Ry. Div.
$
Operating Revenue—
Transportation
Other street ry. oper. rev.
Gity Railway & Light Go.
1909-10.
Grosseamings
$7,161,042
Operating expenses 4,153,250
P.c. exp. to earns.
STATEMENT
$6,736,829, and
FOUR YEARS
1906-07.
$5,721,098
11.51%
2,805,403
9.70%
50.96%
94,996,998
41,074,800
21.36c.
10.12c.
124.998
239.038
546,790
*
These statistics, except as to track mileage, do not Include the Kansas
City A Westport Belt Ry. (about 17 miles of track). •*,x Decrease.*31
CONSOLIDATED INCOME ACCOUNT.
12,208,339 10,619,713
8,491,895 7,450,823
Net
Total liabmties.83,815,634 89,600,186
1907-08.
1908-09.
1909-10.
$6,629,195 $6,175,797
Gross earns., all sources.$7,178,441
7.95%
7.34%
Per cent of Increase
8.29%
2,923,704
2,862.407
Net earnings, all sources. 3,025,191
4 22%
2:2.09%
5.69%
Per cent of Increase
52.66%
56.82%
Operating expenses,
57 86%
Revenue passengers
111,171,548 104,950,526 100,858,027
Transfer passengers
47,280,535 45,356,172 43,485,312
21.92c.
24.20c.
22.18c.
Gross earns, per car mile.
10 22c.
9.43c.
9.82c.
Net earnings per car mile.
127.655
129.832
130.432
Miles of road
244.466
249.709
249.709
Miles of track
583,271
854.296
706,884
Equip. 16 c.-p. Inc. lamps
815^833 ""715”,503
“1,220470
83,815,634 89,600,186
(INCLUDING SUBSIDIARIES).
11,750,139 11,392,506 9,904,210
Net earns, less taxes
Income from op.16,224,083
Other income
Non-oper. income,
1,377,965
1,586,466
1,799,807
_
“Advances to associated
STATISTICAL STATEMENT FOR
9,593,331 8,400,824
13,336,605 12,770,471 11,294,770
15,776,951
1,750,422
Taxes
.
(Report for Fiscal Year ending June 30 1910.)
10,722,694
____
9
1,469,701
1,588,329
Kansas
1909
Net earnings
Net oper. rev.17,974,505
1909.
$
companies” Included notes receivable,
operating accounts. $4,567,849.—V. 91, p. 271.
Note.—The results for 1910 are stated below in conformity with the rules
of the “uniform system” of accounting effective July 1 1909; those for
are so stated as nearly as possible; while those for 1908, 1907 and 1906
according to the methods then prevailing.
1909.
1908.
1906.
1910.
1907.
Year end. June 30.
$
$
$
$
$
Earns, from oper_
24,059,299 22,363,802 19,695,594
Gross oper. rev
28,987,648 26,524,394
Operating expens.11,013,143 10,747,443
1910.
35,000,000 35,000,000
_
ENDED
FOR FISCAL YEARS
INCLUSIVE.
$
20,355,916 19.605,256 3-yr. 5% notes,
dated Mch., 1907
10,000,000
Secur.depos. under
Man. Ry. lease
2,411,549 3-year 6% notes,
dated
May 1908.21,973,000 23,424,000
Adv. to sub-eo8._n1,304,678 11.172,035
Materials A supp. 1,628,274
1,295,194 45-yr. M. 5% bds.13,052,000 11,590,000
377,323
377,323
J73.544 Manhat. lease acct.
Prepaid Insurance A 157,683
181,846
Rents paid in adv./
\11,985 Acor. amor, of cap.
893,3891
Cash
433,940 Associated cos.
278,713
Notes receivable._
263,832) 1,652,665
106,000 Wages
6,000
Accts. receivable.. 2,857,531
1,229,625 Other accts. pay'le 1.067.608J
1,654,571
Int. & rentalsaccr. 1,672,624
Equip, fund depos.
Coupons not pre¬
Guaranty Tr. Co 1,475,563
30,117
sented, &c
25,810
Deposited to meet
30,117 Div.July l,Man.Ry 1,050,000 1,050,000
25,810
coupons, &c.._
787,500
D v.July l.MaaRy 1,050,000
787,600
1,050,000 Div.July l,Int.R.T
J287.630
11,342,611
D v.July l.Int.R.T
787,500 Taxes accrued
787,500
1701,041
Taxes
in
Int. A dlvs. rec’ble
63,358
litigation;
86,593
Items await’g dis.
65,306 Adv. Inc. receipts,
9,495
.1,993
unearned propor
Voluntary relief fd.
58,843
33,431
Unamortized pre¬
Taxes paid under
50,000
mium on debt..
50,000
484,729
protest
726,096
Sinking fund res've
200,000
Deposit to retire
Profit
&
5,878,091
2,993,445
notes due Sep.09
loss—surp
10,350,000
Disc. & exp. amort.
fund
12,682
of
proof of the wisdom of extending the
STATEMENT OF EARNINGS, ETC.,
JUNE 30 1906 TO 1910
Liabilities—
41,418,610 38,914,234 Stock
Assets—
Fixed capital
Investments
the saving of over $1,000,000 per annum in interest charges alone by the
use of city money illustrates as nothing else can that the use of private
capital would be an economic waste in which the city and the fare payers
would be equal losers with your company.
Similarly, the establishment
a universal 5-cent Subway fare, as against a 10-cent fare between two inde¬
pendent lines, is equally conclusive
JUNE 30.
1909.
1910.
$
1909-10.
1908-09.
$6,627,977
3,766,788
Net earnings
$3,007,792
Other Income (net)
17,399
$2,861,189
Gross income
$3,025,191
Deductions—
Taxes
$477,109
Int.on bond. debt. 1,356,588
Bond disc. & com¬
mission (propor¬
tion written off)
170,734
$2,862,407
1,218
$462,745
1,378,657
143,630
Interest on floating
debt (net)
Res. for doubtful
accts. receivable
Sundries, repairing
flood d image, Ac
Bond sinking fund
provision (Corri¬
gan issue)
Pf. sk. divs.(5%).
...
1908-09.
$77,230
$45,201
20,693
17,408
608
3,139
55,000
470,375
55,000
470,375
$2,628,337 $2,576,155
$286,252
$396,854
Total
Net Income
CONSOLIDATED BALANCE SHEET JUNE 30.
1909
1910.
$
Liabilities—
$
stock
9,522,100
Preferred
9,407.500
Cost of properties.49,780,847 49,643,089
Common stock
9,543,080 9,635,680
Depos. for redemp¬
74,850
Stock of sub. cos..
72,350
tion of matured
Bonds and notes..28,527,000 27,019,000
190,100
bonds
220.294 Met. bonds ma¬
263,707
Materials & supp.
but not
tured
162,505
73,514
Mlsc. investments.
190,100
0341,102
presented
Accts. receivable.. a212,410
&
accts.
Bills
822,857
1,632,511
pay.
43,418
33,250
Bills receivable...
268,610
294,143
539,155 Accrued taxes
581,470
Cash in banks
208,417
218,012
455,910 Accrued interest..
66,500
Cash for coupons.
66,500
455,910
14,675 Int. on coups, due
5540,577
Disc. A exps.(net)
117,593
119,026
47,816
31,410 Pref. div. June 1__
Miscellaneous
1,519,813
Sink. A res've fds. 1,657,868
Assets—
1910.
$
1909.
S
Miscellaneous
Surplus
.
....
409,461
C463.727
327,114
668,606
•s
Gross operating revenue.. 15,055,142 13,932,506 14,333.393
Operating Expenses—
Maintenance of way, &c
Maintenance of equipment..
Traffic
Transportation expenses
General
expenses
Non-operating income.
Int. and s. f. on city bonds.
Int. on 3-year 5%
notes
called Sept. 1 1909.
Int. on 3-year 6% gold notes
Int. on 5% 45-yr. gold M.bds.
849,626
881,566
3,079
3,887,832
634,590
664,444
792,221
1,130
2,849,473
449,182
839,306
841,665
603,335
783,147
3,778,842
740,010
2,700,239
6,256,693
4,756,450
6,199,823
4,547,620
8,798,449
1,525,142
9,176,056
225,280
8,133,570
7,643,380
66,595
7,273,307
25,635
8,950,776
7,298,942
9,336,165
2,181,204
_
*
Sinking fund Inter. Rap. Tr.
5% 45-year bonds.
Int. on Manhattan Ry. con¬
solidated M. 4% bonds
1,591,080
Interest on N. Y. El. RR.
5% debenture bonds
50,000
Man. Ry. rental (organlz’n).
10,000
7% guar, dividend on Man¬
hattan Ry. stock
4,200,000
Amort, of debt disc. & exp.
Int. on unfunded debt
97
Other rent deductions
6,577
_
385,389
83,333
1,388,980
593,308
200,000
12,930
232,908
2,543
Total income deductions..
5,857,754
4,695,206
corporate Income
1,441,188
4,640,959
3,150,000
1,441,188
1,490,959
Net
Dlvs. on I. R. T. stock
(9%)
ff Surplus
P.c. expenses to
12.191,000
earnings—
1,733,211
51,790,191 61.451,537
51,790.191 51,451,537
Total
Accounts receivable are stated after deducting $72,399 reserved for bad
doubtful accounts in 1910 and $40,603 in 1909.
b Bond discount and expenses, less discounts on capital stock purchased.
a
c After deducting $900,000 appropriations for
and other special expenditures.—V. 91, p. 589.
and
depreciation, accruing renewals
American Linseed Co., New
York.
{Report for Fiscal Year ending July 31 1910.)
At the annual meeting held on Tuesday, Sept. 13, Presi¬
6,400,359 7,576,785
dent and Treasurer John A. McGean said in part:
977,246
24,529
In accordance with its usual practice, the company has maintained the
physical conditions of its plants In good working order, the expenditures
8,554,031
6,424,888
having been charged to operating account.
These expenditures include
2,171,023
an amount which has been set aside to pay for material alterations and re¬
pairs now in contemplation for one of its plants.
500,000
The past year has been without precedent in the history of the company
1,469,240
to the price of flaxseed and linseed oil.
as
At the beginning of the year
30,042
the indications were for a flax crop In this country fully sufficient for all
oil and other requirements, but the flax plant became infected with diseases
peculiar to it, resulting in a crop -which was the smallest in many years and
less than required for the needs of the country.
Inasmuch as there were
1,580,445
at the beginning of the year no surplus stocks of seed and oil, purchases had
to
be
made
your
every
important
flax-producing
by
company in
country of
50,000
the world, and as foreign crops also were less than norn al, with no surplus
10,000
remaining from previous years, the competition for seed from all sources
resulted in the highest prices known since the United States became a
4,200,000
flax-growing country. The low price for home-grown seed was In August
12,213
1909, when the December option sold at $1 29H, and the high price was in
4,905
361,228
July 1910, when the July option sold at $2 80 per bushel.
The low and high
prices for oil were 40c. and 8£c. per gallon respectively. The high prices
seriously
affected
the
and
linoleum
trades,
which
are
the principal
paint
5,845,350 4,543,746
users of linseed oil, and in consequence consumption was reduced, and this
became marked In May and continued until the close of the fiscal year.
579,538
4,010,285
As to the outlook for the coming year, the flax-growing States of this
3,150,000
country were afficted with drought during the planting season, and indi¬
cations now are for a crop which may prove to be smaller than that of the
860,285
579,538
Excluding taxes
41.56%
34.14%
43.25%
Including taxes..
51.69%
35.75%
55.34%
Passengers carried--.
293,826,280 268962,115 276250,196
aver.
carried--..
805,004
736,882
756,850
Dally
pass,
Note.—Decrease in non-operating lnoome Is largely due to
Inaugurated July 1 1909 of not crediting to lnoome
vances made for construction of Belmont tunnel.
460,899
Total
37.30%
37.85%
238430,146
653,233
the policy
the Interest on the ad¬
past year, nor are the conditions in foreign countries at the present writing
favorable for large crops.
Flaxseed and oil are now commanding the high¬
prices ever known at this season of the year, seed selling in Duluth on
est
Sept. 10 at $2 88,as against a normal averageof the past five years at th|s
of $1 30; while linseed oil In New York on the same date was generally
quoted at 98c. per gallont>as against a normal average for the past five years
of 45c.It would seem that for the next year at least prices of the products
Into which linseed oil enters must hold on a materially higher level than in
the past.,, •{-! u*.
’ ■'" r.
•• ■ v \
season
Sept. 17 1910. j
THE CHRONICLE
Whether this will affect consumption materially or not cannot of course
yet be determined.
Your company, however, has the larger problems in¬
volved in these new conditions constantly under consideration.
As one
of the incidents of policy to meet changing conditions, your
company, with
the assistance of other linseed-oil manufacturers, has Instituted
an educa¬
tional movement among the farmers of one of the Northwestern
States,
under the general auspices of the State Agricultural
College, to bring about
a more intelligent cultivation of flaxseed, and thus result in
larger and more
stable crops.
This movement your company trusts to extend to other
flax-growing States under similar auspices.
RESULTS FOR FISCAL
YEAR ENDING JULY 31.
1909-10.
Profits after paying ail operating expenses
Deduct—Interest on borrowed, money.
1908-09.
$720,952
_
Depreciation charged off
Net profit for year
-
—
$720,952
j
$1,264,185
$186,109
98,475
$979,601
BALANCE SHEET JULY SI.
1910.
1909.
Assets—
$
&
1910.
1909.
Liabilities—
$
$
Common stockl6,750,000 16,750,000
$
Plants, equip.
lnventory31 ,868,029 31,845,572
Investments
445,320
-
Total
Pref.
445,319
833,484
75,353
Accts. receiv.
698,984
Notes receiv.
76,371
Cash and cash
items
1 ,470,616
Com.stk.in treas
27,970
Pref.stk.ln treas
26,352
Unearned ins.
27,003
Pro.Ex.memb.
486
B. of Tr. mem.
5,203
stock...16,750,000 16,750,000
Bonds payable
Current accts.
315,000
19,676
811,659
Surplus
315,000
16,595
90,707
638,968
27,970
26,352
23,595
486
RESULTS FOR YEARS ENDING JUNE 30.
Total
34,646,335 33,922,302
The Canada Iron
Corporation, Ltd., Montreal.
(Report for Fiscal Year ending May 31 1910.)
Pres. T. J. Drummond, Montreal,
Sept. 1 1910, wrote in
substance:
The original extensive plans determined
upon when the corporation
was organized (V. 88,
p. 1131), embodying additions to and betterments of
the existing plants, and the construction of
entirely new works, will all be
satisfactorily completed within the next few weeks.
Disastrous fires occurred at two of your
plants during the year, viz.;
Montreal and Three Kivers; the former was not
re-built, while the latter
has been reconstructed in a manner less liable
to be destroyed by fire, as
well as on a larger scale so as to
incorporate the operations formerly con¬
ducted at Montreal.
Notwithstanding the foregoing, and the fact that a limited number of
units only were efficacious, the fixed
charges, including interest on bonds
paid and accrued to May 31 1910, have been cared for during the full
period
of construction, leaving a
surplus of undivided profits carried forward of
$149,427.
This is gratifying in face of the unavoidable
interruption to
operations that occurs during the period of construction.
A larger volume of business was secured
by
sales department than in
the
the preceding year.
With construction work completed and all your
properties adding their
auotawillto then
the earning
powertoofaccrue
returns on
the corporation,
commence
estimated.
as
the capital securi-
PROFIT AND LOSS ACCOUNT FOR YEAR TO MAY
31 1910.
Earnings for year (mines not yet In operation)
$265,837
Less bond, current interest and
administration charges for year.. 246,843
Net earnings for year j.
$18,994
Less applied on reduction of bond discount
and expense, $6,805,
and merger expense, $9,506
16,311
Carried forward
profit and loss
account to
BALANCE SHEET MAY 31
Assets ($13,439,349) —
Plant, &c., Including works
under construction
$2,939,613
Mining prop's (notoper.). 5,175,219
Investments (Incl. L. I. &
„
1910.
Liabilities ($13,439,349) —
Preferred stock
..$2,909,000
Common stock
4,832,300
Bond issue
2,920,000
Accounts & bills payable. 2,533,490
Bond interest accrued
73,000
....
955,232
102,833 Contingent reserves
22,132
1,458,718 Profit and loss
149,427
1,501,608
(Indirect Liabilities on
bills receivable, $158,475).
10,904
248,221
1,041,000
La Belle Iron
Works, Wheeling, W. Va., Steubenville, O.
(Report for Fiscal Year ending June 30 1910.)
President Isaac M. Scott says
in substance:
Ore Properties.—Your Miller mine was In
operation the greater part of
the year, producing the major
portion (304,128 tons) of the ore required
in running your furnaces.
This property continues to
factory manner, both as to character of ore and cost of develop in a satis¬
production.
From
the Wacootah property there was mined
only enough ore (73,227 tons) to
cover the part of the season’s
requirements which the Miller mine could not
supply. The La Belle mine’s output (18,746 tons) was
somewhat (63,461
tons) less than the year before, due to local
conditions; this deposit is of an
uncertain nature.
The total production of ore was
396,101 tons, contrast¬
ing with 259,412 tens in 1908-09.
Coke Properties.—The output
of coke by your Fayette County property
was 69,949 tons, all of which was
used In your furnaces, as
compared with
23,697 tons for 1908-09.
Coal.—Owing to labor disturbances,
the output of your Steubenville
mine was not as great as for the
previous year, but with the satisfactory
adjustment of the trouble referred to the mine was put on a better
producing
basis than ever before.
The recent Installation of additional
equipment
promises to improve the quality of coal, permitting of its
wider use in the
making of gas for the open-hearth department.
Output of Manufacturing Plants.— The tonnage
produced
was as follows;
1910.
1909.
Pig iron
209,461 130,898 Sheets
41,468
36,598
Slabs and billets
347,978 201,686 Tubular goods
70,782
51,532
Plates and skelp....271,783 165,625 Nails,
kegs
194,682 187,722
Pay-Roll.—The average number of employees during the
year was ap¬
proximately 3,600, the pay-roll aggregating $3,095,507.
Shipments.—The value of shipments was $13,719,912, as
against $10,278,456 for the previous year.
Improvements.—The amount expended for Improvements and
extraordi¬
nary repairs largely exceeded that of any like period in the
past, the prin¬
cipal changes being as follows: (1) Remodeling and
practically rebuilding
Nos. 4 and 5 skelp mills; (2) remodeling existing
and adding additional fur¬
naces in plate mill department; (3)
Installing a slag granulating system In
blast furnaoe department; (4) thoroughly overhauling
the blooming mill
engine, shears and conveyor tables.
Aside from $133,040 charged to
the,,depreciation fund, the expense of
this work has gone against costs and so been absorbed in the year’s
business.
The maintenance and repair expenditures aggregated
$743,000, as comnared with $517,000 for the year before.approximately
With the changes
made, the property has been strengthened without Increase of
plant account.
Balance, surplus
.Surplus beginning of
1909.
1906-07.
$
(8)793,120
1,755,639
147,000
(8)594,928
2,457,147
150,000
(8)583,916
936,830
877,564
1,435,654
741,928
1,013,711
3,150,810
733,916
1,723,231
2,228,459
250,000
4,164,521
*2,478,867
250,000
3,951,690
(8)550,880
2,063,218
1,435,654
3,150,810
3,200,570
2,313,218
250,000
2,950,570
year
Special depreciation
Tot. surp. end of year
33 1-3%.
minerals and
1907-08.
$
1,030,234
1,137,352
2,063,218
Total
Stock dividends
*
1908-09.
$
x2,167,586
137,895
(9)892,339
Total
1,814,394
143,710
250,000
After deducting $59,743 for provision for
exhaustion of
extinguishment of lease values, development, Ac.,
against
$40,436 in 1908-09 and $59,132 In 1907-08 and in
1906-07, $178,008 for
similar purposes and contingencies.
x
BALANCE SHEET JUNE 30.
1910.
1909.
Assets—
$
$
Property account * 11,454,515*11,225,911
Other assets
124,800
125,000
Sinking fund dep.
Insurance, unexpired, Ac
3,500
14,397
Inventories
3,117,452
Accounts and bills
receivable
Cash
1,722,006
941,423
Total assets
Liabil
•
—
Capital stock
1910.
$
1909
5
9,915,400
9,915,467
2,364,000
Bonded debt
2,260,500
8,000 Wages, taxes and
royalties accrued
251,897
11,312 Accounts payable.
289,928
2,746,040 Div. pay. Aug. 1.
Accrued Interest..
18,995
221,204
417,368
198,294
17,765
1,166,221 Depr., Ac., funds.al,690,803
1,335.362 Total surp. June 30 2,950,570
17,378,093 16,617,846
1,420,631
2,063,218
Total liabilities. 17,378,093 16,617,846
*
Includes real estate, buildings, plant,
machinery, Ac., at Steubenville and
Wheeling; also mining, gas, oil properties, equipment, Ac. a Reserve
funds include:
For depreciation,
$1,116,960; exhaustion of minerals, $297,630; for re-lining fur¬
naces, extraordinary repairs and
contingencies, $294,213.—V. 90, p. 662.
Torrington Company, Torrington, Conn.
(Report for Fiscal Year ending Sept. 1 1910.)
$149,427
[The foregoing “earnings for year, $265,837," contrast with
$152,396 for the period ending May 31 1910.—Ed.]
1909-10.
$
Net profits for year
Interest on bonds
Cash dividend...
$2,683
146,743
May 31 1909
Total undivided profits
1910.
quarters.
General.—The year Just closed was in some
respects disappointing.
Twelve months ago the volume of railroad
buying had again about reached
normal conditions.
During the quarter ending Dec. 31 1909 disturbing
questions, largely political, began to render it almost
impossible for the
railroads to market their securities.
The outcome has been a
curtailment,
reaching in some instances to almost a complete discontinuance
of buying,
not only of rails, cars and
locomotives, but minor supplies as well. With
this falling off in railroad
buying, the demand for steel goods was reduced
to a point where there was
hardly sufficient to go round, prices suffering
accordingly.
The net result has been to discourage
generally the placing
of orders ahead, reducing the business to a
“hand to mouth” buying basis,
which is not conducive to good mill
operations.'
The year’s business also suffered from
higher costs without receiving a
corresponding advantage In the way of increased prices for goods
sold.
The outlook is somewhat
confusing. Crop prospects are satisfactory,
money can be had at fair rates and stocks in the hands of the
manufacturer,
{obber and
34,646.335 33,922,302
M. Co. stock).
Cash in bank..
Accounts receivable
Material & supplies, &c._
Insur., taxes, &c.. unexp.
Deferred charges
Good-will
—V. 80, p. 1427.
$1,116,960.
Dividends.—There was paid out during the year in cash dividends
$892,339, being at the rate of 8% per annum for the first two
quarters and 10%
per annum for the last two
consumer
areisonthoroughly
the whole spoiled,
not large. It Is to be hoped that
tefore a good
situation
political agitator to a line of action which is notsomething will divert the
disturbing.
-V. 90. p. 851.
Add balance at credit
Oil
Property.—During the year your Brooke County oil property
produced
31,227 barrels of oil, and at present is
yielding from 1,500 to 1,800 barrels
per month.
The field had produced up to June
30 1910 330,000 barrels
Special Funds.—in addition to caring for all ore
and coal land depletions,
the relining, rebuilding and
contingent fund balance has been considerably
Increased.
The general depreciation fund has had a
further credit of $250,000, making the total credited to this fund
during the last
250,000; charges for plant betterments, $133,040; balance five years $1,June 30 1910,
5,203
es
715
President
Henry H. Skinner, Sept. 13 1910, wrote:
The business and profits of
your subsidiary companies during the past
year have been larger than those of any
previous year since the formation
of the company
The increase in profits has come largely from
improve¬
ments in machinery and
methods, rather than from increase in business,
and the profits have increased in
spite
of a material reduction in price
in many lines.
The net earnings of the various
companies are
largely in excess of the amount necessary to pay subsidiary
the interest on the bonds
and the dividends on the stocks of
your company.
The amount charged
off this year for depreciation is
larger than in any former year.
The business of your German
factory
again shows a large increase, and
It Is expected that it will begin this
year to pay returns on the money in¬
vested, for the first time.
The business in England is
good and Increasing,
and they are getting well started in
the manufacture of screws, which is
a recently added line.
At your main plant, the Excelsior Needle Co.
at
Torrington and at Springfield, the business has been very
satisfactory.
The Standard
company is sharing in the revival of the bicycle business
and the growth 6f the
motor-cycle.
It has also added one or two new lines
during the year, and has bought a new factory at
Newark, N. J., and the
factory and business of the National Sweeper Co. at Marion, Ind.
The Eagle company of New
Jersey has been organized, the common stock
of which is all held
by the Standard company; and by the issue of preferred
stock of the Eagle company the factories at
Newark and Marion have largely
been paid for.
The Eagle company will manufacture
carpet sweepers, gas
engines and wind shields, and the business looks
promising,
which are now held in the
treasury. The cash balance on hand Sept. 1
1910 was $151,035.
Your company has no indebtedness other than
its
mortgage bonds.
INCOME ACCOUNT FOR THE
1909-10.
$
Receipts—
YEARS ENDING SEPT.
1908-09.
$
179,590
3,656
1907-08.
1.
1906-07.
$
181,500
2,791
110,000
$
138,359
2,518
20,000
110,000
363,737
293,246
270,877
294,291
50,000
70,000
80,000
80,000
6,100
51,904
4,461
50,000
70,000
80,000
50,000
70,000
80,000
80,000
9,300
50,000
70,000
80,000
80,000
8,250
1,331
1,591
33,854
1,126
Total payments
342,465
Balance for year
sur.21,272
Cash and cash assets end
290,161
sur.3,085
324,745
def.53,868
289,376
sur.4,915
151,035
129,763
126,679
180,497
Dividends from sub-cos.
Miscellaneous income._.
Sale of land
Rentals
Excelsior Needle Co, acct.
div. to be declared
229,241
4,496
...
110,000
Total receipts
Payments—
Interest on bonds
Dividends on pref. (7%)
Divs.
Dlvs.
on
‘ A” com.
(8%)
on “B” com. (8%)
Salaries & directors’ fees
Investments
Sundry
payments
Purchase of machinery.
-
of year
—V. 90, p. 378.
110,000
20,000
80,000
8,830
Electrical Securities Corporation, New York.
(Report for Eight Months ending June 30 1910.)
1,
George R. Sheldon is President,
This company, of which
reports
as
follows:'
'injew
I’1'; •'
.
Report.—For
PROFIT AND LOSS ACCOUNT.
8 mot. end. 6 mot.
J'he 30 '10. Oct. 31
8 mot,end. 6 mot. end.
J'neZO '10. Ott. 31W.
Coll.tr. bond Int..
Expenses
Underlying A Inv.
bd. int. rec'd A
accrued
Int., gen’l acc’t..
Diva, on Investm’t
stocks received.
Profit on sale of se¬
Total Income...
$95,924
33,608
$285,164 Pref! dIvs....(2K%)25,000
120,000
4,221 Com. dlvs. (6%)..
$190,976
23,118
end.
'09.
$167,018
50,582
<5)50,000
120,000
$274,532
$4,486
$387,60
$807,64
J’ne 30'10. Oct. 31 '09
$
$
Liabilities—
Coll. tr. 5% bonds 3,426,000 3,750,000
Surp. of coll, held
253,735
355,574
as sec. for same
4,002,395
2,000,000 2,000,000
Common stock
1,340 Preferred stock... 1,000,000 1,000,000
25,284
991,000 Notes payable....
575,000
31,429
Accr’d int. payable
1,662
1,730
Taxes accrued....
1,563,006 Net profits since
61,211
422,328
Nov. 11904
J'ne 30 TO. Oct. 31 '09;
$
Assets—
for coll,
tr. 5s (par in
1910$4,946,000) 3,729,250
In trust to redeem
coll. tr. 5% bds.
52,324
Treasury bonds..
628,000
Pledged
"
stocks
(par in 1910,
$3,597,937)
1,162,062
Investment bonds
...
In
»,678,000)
1910
...
.
Surplus Nov. 1 '04
-
1,067,270
80,332
10,224
Cash
125,200
43,113
493,936
Surplus
355,574
92,313
100,327
81,377
253,735
Total
7,737,061
8,166,892
•
Accr'd int. rec’ble.
500,000
500,000
1,071,175
Notes A acc’ts rec.
(book value)...
Syndicate acc’ts
(underwritten).
7,737,061 8,166,892
Total
Subject to Call at 103 and Interest.
lsf
2d
3d
4th
Nov.
*04. Feb. *05. May ’05. Jan. 06.
Dated—
$855,000 $694,000 $607,000 $291,000
Collateral trust 5s canceled—
102.06% 101.77% 100.42%
98.09%
Average price paid
__$909,000 $749,000 $658,000 $313,000
Underlying bonds sold
96.01%
94.31%
92.63% 91.49%
Average price received
Coll, trust 5s outstanding June 30 ’10$145,000 $306,000 $393,000 $709,000
$411,000 $548,000 $619,000 $958,000
Underlying bonds pledged
Series—
6th
7th
6th
6th
Total.
Dated—
Dec. '07. Feb. ’09. Feb. ’09. Feb. ’10.
$3,074,000
Coll, trust 5s canceled—$563,000
$64,000
Average price paid
100.25% 102U%
3,384,666
Underlying bonds sold-. 625,000 130,000
Average price paid... 90.09%
90%
Coll, trust 5s outstanding
June 30 1910c
437,000 436,Q00 $500,000 $500,000 3,426,000
508,d00 635,060 627,000 4,946,000
Underlying bds. pledged 640,000
Collateral Trust 5% 30- Year Bonds,
Series—
.....
-“•V. 89, p. 780
•.
.
:
„
GENERAL INVESTMENT
RAILROADS, INCLUDING
Mobile
Terminal
NEWS.
ELECTRIC ROADS.
RR.—Guaranteed Bonds
Alabama Tennessee & Northern
Offered.—See
Year—
Tot. Over.
Revenue.
year
ending June 30:
Net (after
Other
Taxes, Ac.). Income.
1909-10143,357,175 $9,991,231
1908-09 39,528,698
9,558,324
Interest,
Rentals, Ac.
Dividends Balance*.
Surplus.
Paid.
$741,752 $7,882,361 $1,868,520 $982,102
618,900 7,789,621 1,817,360 570,242
surplus as above. $982,102 In 1909-10, there was deducted
$198,842 for additions, betterments, &c., against $41,099 In 1908-09,
leaving $783,260 in 1909-10, against $529,144 in 1908-09.
_
Dividends as above include:
6% yearly on the common stock, $1,679*532 in 1909-10, against $1,628,373 in 1908-09 and $188,988 (6%) yearly
on the preferred stock.—V. 90, p. 625.
From the
83, p. 1036.
Algoma Central ft Hudson Bay
&
^
Btyan (Tex.) ft College Interurban Ry—Bonds.—The
on Sept. 2 authorized the regis¬
tration of.$49,059 bonds.
Texas Railroad Commission
BALANCE SHEET.
toar
Fiscal
_
79,126
36,079
826,739
29,845
Total disburse’ts
$279,018 $1,195,240 Balance, surplus..
curities, &c. (net)
Investm’t
[Yoi.. nxxxxt.
THE CHRONICLE
716
Railway
below.—V.
Ry.—Old Mortgage Dis¬
charged—New Mortgage Filed.—This company on Aug. 27
deposited With the Secretary of State of Canada a discharge
of mortgage dated Jan. 1 1903 (Central Trust Co. of N. Y.,
original, and U. S. Mtge. & Trust Co. substituted, trustee).
The road was recently completed between Bryan, Tex.,
and Mechanical College, 6 H miles.
Gasoline motor cars
been purchased, although electricity is to be ultimately
and Agricultural
have. It is said,
used. The out¬
standing stock Is $20,000; valuation fixed by Commission, $69,059. The
Commission held that the Act of 1909, under which the road was authorized
to be built, placed It under Its control, making It In this respect different
from all other Interurban roads.
Incorporators were: H. O. Boatright. G. S. Parker, O. E. Grammell,
J. W. Doremus, J. E. Butler, J. T. Maloney, A. W. WUkerson of Bryan*
W. H. Hunter of Shreveport, La., and S. S. Hunter of Arcadia Parish. La.
Amalgamation.—The
Oct. 18 listen to an
application from the Canadian Northern Ry. Co. and the
Edmonton & Slave Lake Ry, Co. for a recommendation to
Canadian Northern Ry.—Proposed
Canadian Railway Commission will on
the Governor General in Council for the sanction of an agree¬
ment amalgamating the said companies.
Edmonton A Slave Lake Ry. 5% bonds, $420,000, were acquired In
1907-08 and pledged as part collateral for Canadian Northern Ry. 4%
perpetual consoHoated debenture stock (V. 87, p. 1156, 1157).—V. 91,
p.
336, 153.
Canadian Pacific Ry.—Report.—See “Annual Reports”.
Lease.—See New Brunswick Southern Ry. below and com¬
pare
above-mentioned report.
Listed.—The New York Stock Exchange has authorized
to be listed on and after Oct. 6 $30,000,000 ordinary stock,
which was offered at 125 to stockholders of record Nov. 15
1909,on notice of issuance and payment
total authorized to be listed
in full, making the
$180,000,000.—V. 91, p. 517,
396, 394.
Chicago Railways.—Status.—In August the company
a new high record for gross monthly earnings, the
figures being $1,200,000 for August, as compared with
$1,165,000 in July, the previous high record. Total gross
receipts for the seven months ending Aug. 31 1910 approxi¬
mate $7,834,000, as compared with $7,122,695 for the
similar period of 1909.
An authoritative statement says:
established
Up to date the company has expended $26,000,000 In the rehabilitation
of Its properties as follows: (1) the reconstruction of approximately 200
miles of track laid on a sub-structure of concrete, covering the ties and
the lower half of the 129-lb. rails; (2) the purchase of 1,000 cars of the
latest pattern; ($) the construction of a dozen new buildings, viz.; carhouses, sub-stations, machine shops, paint shops, &c.; (4) the laying of
hundreds of miles of copper cable and trolley wire, also of underground
conduits; (5) the re-settlng or replacement of hundreds of poles; (6) the
construction of tunnels—all In the effort to afford Chicago the best street
railway system In America.—V. 90, p. 1489.
Ry.—Exchange of Bonds.—This
having
already
retired
$100,000 of its $200,000
There was also deposited with the Secretary of State of Canada on Aug. 27
outstanding “first and refunding” bonds by exchange for a
the new mortgage, dated July 1 1910, U. S. Trust Co., trustee, securing
like amount of 6% cum. pref. stock, received authority on
1st M. 5% 50-year gold bonds, guaranteed as to principal and interest by
the Lake Superior Corporation, the last-named company being one of the
Sept. 2 from the Massachusetts Railroad Commission to
parties to the mtge. Compare V. 91, p. 93; V. 90, p. 1553.
issue,
in order to retire the remainder, an additional $20,000
American (Electric) Railways, Philadelphia.—Report of
of said pref. stock and a further $80,000 bonds secured by
Bolding Company.—The statement for the fiscal year ending the Northampton & Amherst 1st M. of 1900.—V. 91, p. 38.
June 30 shows total receipts of the subsidiary companies
Cripple Creek ft Pueblo Ry.—Foreclosure Sale.—Sanford
$3,431,039, against $2,988,141 in 1908-09. The results for
C. Hinsdale as Master in Chancery appointed by the United
the American Railways are as follows:
Year—
Bond Int.
Div. (6%).
Receipts.
Expenses.
Surplus. States Circuit Court for the District of Colorado, under an
1909-10..
$693,678
$15,175
$325,209
$342,073
$11,221 order entered June 15 in the foreclosure suit brought by the
1908-09
527,113
10,060
206,323
305,706
5,023 State Bank of Chicago, as trustee, will sell
the property of
1907-08
498,758
15,791
155,854
305,706
21,407
the company on Sept. 22.
—V. 90, p. 371.
The sale will take place at the Ophelia tunnel, in the Cripple Creek
Atchison Topeka A Santa Pe Ry.—Chairman.—Walker D.
Mining District, Teller County, Colo.
Upset price $24,900.—V. 83, p. 36.
Hines, who has been Acting Chairman of the board, has been
RR.—Stock Increase
Delaware
Lackawanna
ft
Western
elected Chairman.—V. 91, p. 588, 93.
Atlantic Shore Line Ry., Sanford, Me.—Status.—Reor¬ by Subsidiary .—The shareholders of the Newark & Bloomfield
RR., a 4-mile road extending from Newark Junction to
ganization.—The report that a syndicate of Massachusetts Montclair, operated under lease by the D. L. & W., has
capitalists represented by E. H. Knowlton of Brookline authorized an increase of capital stock from $103,850 (of
has acquired an option on the property, embracing about 100
which the D. L. & W. owns $97,700) to $1,600,000.
miles of trolley track, water-power plants, &c., is denied.
The proceeds will be used for Improvements, ineluding depressing of
The coupons on the refunding 4% bonds (of which $1,191,- tracks and the building of new stations at Watsesslng and Bloomfield,
500 were outstanding at last accounts) are in default, and N. J. The property Is unbonded. The lease runs for 99 years from 186$
at 6% on stock.—V. 91, p. 154.
the bonds have been mostly deposited with a reorganization
Dominion Atlantic Ry.—Sale.—See Canadian Pacific Ry.
committee with a view to reorganization.
The mortgage
report
on a subsequent page.—V. 90, p. 1490.
trustee is expected to purchase the property at the foreclosure
sale to take place shortly, in behalf of the bondholders.—
Fitchburg RR.—Increase of Stock.—The stockholders will
vote on Sept. 28 on increasing the capital stock by issuing
Y. 89, p. 1410.
Berkeley Springs ft Potomac RR.—Sale.—Special Com¬ 4,000 shares ($400,000) of pref. stock, to provide for perma¬
missioner Stuart W. Walker will on Sept. 24 offer the road nent additions and improvements and payment of debts and
for sale at Berkeley Springs, W. Va., under the judgment obligations under the lease to the Boston & Maine dated
June 30 1900.—V. 90, p. 167.
held by the Baltimore & Ohio.
Compare V. 88, p. 1436.
Freeport (HI.) Ry. ft Light Co.—Consolidation.—On Aug.
Bingham ft Garfield Ry.—All Sold—The 1st M. 6% bonds
20 a certificate was filed at Springfield, Ill., consolidating
guaranteed by the Utah Copper Co., which were advertised under this title the Freeport Railway, Light & Power Co.
in the “Chronicle” of Sept. 3
by Eugene Meyer Jr. & Co.,
(owning some 8 miles of trolley road, &c.) and the Freeport
it is announced, have all been sold.—V. 91, p. 654.
Bolivia Ry.—Listed.—The New York Stock Exchange has Railway & Light Co., the latter, it is stated, being the holding
The authorized capital stock is $1,250,000,
company.
listed £460,000 1st M. 5% bonds due 1927.
In all dealings $850,000
being
common and $400,000 preferred.
therein $5 shall be the equivalent of £1 sterlingV. 90, p. 107.
Connecticut Valley Street
company,
...
Roston
ft Maine
RR.—Acting President.—President
Charles S. Mellen of the New York New Haven & Hartford
RR. was on Wednesday elected Acting President of this com¬
pany, also
the annual
of its dependency, the Maine Central RR., until
meetings of each in 1911, to relieve Lucius Tuttle,
who, at his own request, is granted leave of absence until his
resignation takes effect at the end of the corporate year.
A new bond issue Is said to be proposed to refund existing bonds (about
$335,000 1st M. serial 5s dated May 1 1903,,callable after May 1 1913 at
105; int. M. & N. at office of Rudolph Kleyboite & Co.) to purchase
Highland Park and the property of Pecatonica River Power
Improvements to cost about $100,000. ; A. J. Goddard was
the old
railway company.
Co., and for
President of
Lehigh Valley Transit Co.—New Through Freight Line to
Philadelphia.—The company recently completed negotia¬
tions With the Philadelphia Rapid Trdhsit CO. for establish'-
SBPT.17
10X0.]
THE CHRONICLE
wiiti-nr.-...."i■ hipwi! ■
lag
trolley freight line between Philadelphia and Alientown, on tne basis of a division of changes. The line was
expected to be in operation by Oct. 1.
Jfew IAne.^The company has arranged to build a new
trolley line from Quakertown to Perkasie, 7 3^ miles in
length. The company has been operating over the leased
tine of the Quakertown Traction Go.
This lease the Lehigh
Valley Transit Co. has decided to cancel. The cost of the
new line, which is 1XA miles shorter than the old
line, is esti¬
mated to be about $200,000.—V. 91, p. 154.
Los Angeles ft Redondo RR.—Large Block of Bonds
Pledged.—See Huntington Land & Improvement Co. under
“Industrials” below.—V. 90, p. 236.
Los Angeles Ry.—Increase of Stock.—A Los Angeles
paper
states that the stockholders on Sept. 8 voted on the
question
of increasing the authorized capital stock from
$5,000,000 to
$15,000,000, to provide for future requirements.—V. 86, p.
a
Louisville Henderson ft St. Louis
Fiscal
Year—
Gross
Net
Eaminos.
$1,176,869
1908-09
1.023,737
—'V. 89. p. 886.
Maine Central
Fiscal
Year.
(after
Other
Income.
92,621
Taxes).
1909-10
9295,253
237,318
1,400
HU.—Report.—For
Total Over. Net (after
"Revenue. Taxes, Ac.)
Ry.—Report.—For
year
Total
Charges.
9204,574
200,908
Acquisition.—The
Reports”
;ijjjn;_i
on a pre¬
The road extends from West St. John
west to St. Stephens, 84 mites.
at last accounts, 349,000.
Bonded debt $500,000 1st 50year 4s.
New Brunswick Government aid,
$413,000; municipal aid, $3,000;
total.paid-up capital. *965,000.
New Orleans ft Northeastern RR.—Dividend Increased
An annual dividend of 6>£% was
paid on
Sept. 3, contrast¬
ing with 5% last year, 4% in 1908, 6% in 1907, 5% in 1906,
3H% in 1905 and 3% each in 1903 and 1904.—V. 89, p. 1594.
New York ft Harlem Railroad.—Dividends Resumed on
Account of Street Railway Rental—3%
Yearly to be Paid at
Present.—A dividend of 1
has been declared
on
the
$10,000rG00 stock, payable Oct. 1 to holders of record
Sept. 19 out of the moneys ($400,000 yearly) received as
rental from the Metropolitan Street
Ry. under the lease of
July 1896.
Tula rental was up to and Including Oct. 1908 used to
dividends of 2% each In April and October on the New pay semi-annual
York & Harlem
stack, but in April and Oct. 1909 and April 1810 no distributions were
made, owing to the fact that special franchise taxes assessed
against the
street railway company remained unpaid,
amounting to over $800,000.
The New York & Harlem RR. was in June 1910
reimbursed for $400,000
advanced by It on account of these taxes, and
part at least of the remainder,
it is understood, has been paid by the
Metropolitan company. Compare
V. 90, p. 1614 580, 110.
Pending a full adjustment of the tax matter,
however, the Harlem company. In order to insure itself
loss, has decided to pay dividends at the rate of 1 H% against possible
semi-annually.
Circulars explaining the matter will be sent out with the dividend
checks.
—V. 90, p. 1614.
Balance,
Surplus.
993,300
,
37,810
ending June 30:
1909-10-.98,922,312 92.411.400 9133,383 *1,882,295 *398,152 9264,336
(998-09
8,337,723 2,207,518
61,919 1,655,588 398,152 215,696
From the surplus as above, *284,388 In 1909-10, there was deducted
*217,488 for additions and betterments, against *113,733 In 1908-09;
Mating *46,847 In 1909-10. against 3101,964 fn 1908-09.—V. 90, p. 849.
'■ ■ ■■
Capital stock
year
Other
Interest, Dividends Balance
Income. Rentals,Ac.
(8%).
Surplus
aggj
ceding page).
1224.
ending June 30:
'■i.'-.V-.
Canadian Pacific Ry. Go. (see “Annual
Pasadena (Cal.) Rapid Transit Go,—Bonds.—The share¬
holders will vote Get. 18 on
authorizing an issue of $3,000,000
5% 50-year mtge. bonds, to be issued in connection with
the construction and equipment of the
railway between Pasa¬
dena and Los Angeles.
Compare V.
89, p. 1411.
Thursday announced the
Public Service
purchase of the Sebasticook & Moosehead RR., extending New York Stock Corporation of New JerseyListed.-^The
Exchange has listed $13,500,000 general
from Pittsfield, Me., to Main Stream, 15 miles. The
prop¬ mortgage 5% 50-year bonds due 1959 (V.
89, ,p. 1348; Y. 90,
erty was presumably sold by the receiver at foreclosure sale.
p. 699.)—Y. 91, p. 397, 95.
Compare V. 90, p. 977.—V. 89, p. 842, 849.
Rock Island Arkansas
company on
Manila RR. Co.—Listed in London.—The London Stock
Exchange has listed scrip, fully paid, for £399,376 18s. fid.
1st M. gold bonds, covering the “Southern Lines.”
Com¬
pare V. 91, p. 214, 276.
Metropolitan Street Ry., New York.—Foreclosure Sale
Again Adjourned.—Judge Lacombe on Wednesday granted
further adjournment of the foreclosure sale, this time to
Nov. 14, in order to permit reorganization
plans to become
a
fully developed.—V. 91, p. 336, 94.
Mobile Jackson ft Kansas City RR.—Final Assessment on
Stock Called.—The eighth and final installment of assessment
of $2 50 per share on the stock of the Mobile Jackson
&
Kansas City and Gulf & Chicago, under the modified
plan
of reorganization dated Oct. 1
1908, is payable on or before
Sept. 30 at the office of the Metropolitan Trust Co. Com¬
pare V. 91, p. 463.
Mobile Terminal ft Railway Co.—Guaranteed Bonds
Of¬
fered.—F. J. Lisman & Co. have purchased, and offer at par
and interest, $175,000 of the
company’s 1st M. 25-year
$1,000 6% gold bonds, due Sept. 1 1935, but subject to call
at 105 on any interest day, ‘March 1 or
Sept. 1. Jointly
guaranteed by Alabama Tennessee & Northern and Tombigbee Valley RR. companies, both principal and interest.
Authorized issue, $500,000. Interest payable at
City Bank
& Trust Co., Mobile, or its
agency in New York.
F. J. Lis¬
more
man
& Co. write in substance:
This company was Incorporated In Alabama on
Sept. 1 1910 to acquire
24 acres of real estate, fronting 700 feet on Mobile
Harbor, adjoining the
business section of the city.
The company has authorized $500,000 capital
stock (In $100 shares), all
outstanding; also $500,000 1st M. 6% bonds; of
the latter. $175,000 are outstanding, the balance
being reserved under
carefully guarded restrictions for Improvements and the acquisition of
additional property.
The bonds are guaranteed, principal and Interest,
severally and jointly, by the Alabama Tennessee & Northern and the Tomblgbee Valley RR. companies, whose aggregate
surplus earnings, after
payment of Interest charges for the fiscal year ended June 30
1910, exceeded
$43,000, or about four times Interest on the terminal bonds now
outstanding.
The real estate acquired is
conservatively valued. Irrespective of Im¬
provements, In excess of 3300,000, whereas only a part of the3175,000 bonds
were issued In part purchase of real
estate.
The bonded debt Is 3250 per
front foot; adjoining real estate Is held at more
than $400 per front foot.
The Improvements will Include 4
slips, with docks on both sides, affording
docking facilities of about 3,000 ft.; 2 tracks leading from each dock to a
commodious railroad yard and connecting with the other
railroads In Mo¬
bile; and an extensive warehouse and storage
The property should
be self-supporting within a few months, andsystem.
when fully
provide annual net earnings In excess of $75,000. The developed should
guaranteeing com¬
panies are prosperous railroads located In Western Alabama,
and together
they form the basis of a route shorter than any existing line between
the
Birmingham district and the Gulf of Mexico, Via the port of Mobile. John
T. Cochrane Is President of the new
company.
New York Stock
699.
ft Louisiana RR.—Listed.—1The
Exchange has listed $11,000,000 1st M.
guaranteed bonds, due 1934. Compare V. 90, p. 626,
Rock Island Go.—Earnings.—See “Annual
Reports.”
Purchase of Preferred Stock by Phelps,
Dodge & Co. .Inter¬
ests.—It was announced on Monday (Sept. 12)
that the large
block of Rock Island Co. pref.
stock, variously
reported as
aggregating from 400,000 to 185,000 shares, which was re¬
cently purchased by Kuhn, Loeb & Co. from the PearsonFarquhar syndicate (V. 91, p. 276), had been re-sold to the
Phelps-Dodge copper interests. The actual purchaser is the
El Paso & Southwestern Ry.
Co., which is owned and oper¬
ated by the interests that control the corporation of
Phelps,
Dodge & Co., whose shares are listed on the New York Stock
Exchange.
The last-named company controls besides im¬
portant copper
properties, extensive coal deposits (see said
corporation under “Industrial#’ below and V. 88,
p. 1496).
The stock is rumored to have
brought 60 to 67, an advance of
15 or 20 points over the amount received
by the syndicate.
(See El Paso & Northeastern Co. on page 50 of “Railway
and Industrial” Section.
The “Journal of Commerce and Commercial Bulletin”
obtained the following authoritative statement;
The block of stock sold Is very large, but not sufficient
to
control of the Rock Island road; this control still lies with the change the
Reld-Mooro
But Phelps. Dodge A Co. will receive adequate
party.
representation,
and will thus gain a considerable voice In the
management.
The accession
of sd Influential interests will be
distinctly advantageous to Rock Island,
and on the other hand Phelps, Dodge &
Co.,
being
the
controllers
of the
El Paso & Southwestern, a
connecting road, will benefit from the new
arrangement, especially as they are very large originators of
freight. The
transaction Is strictly In accordance with the announced Intentions
of Kuhn,
Loeb & Co. when they consummated the transaction
with the Pearson
syndicate.
See V. 91, p. 276.
The “New York Times”
on
Tuesday said:
The stock in the Rock Island Co. which Kuhn,
Loeb A Co. and their
associates took over from the Pearson syndicate and have
now sold to
Phelps, Dodge & Co., as announced on Monday, amounted. It was learned
yesterday, to 185,000 shares, or $18,500,00Q, par value, out of the entire
Issue of $54,000,000 of pref. stock.
With this comes the Information that
the Moore holdings of Rock Island pref. amount to
124,000 shares, of which
William H. Moore holds 80,000 shares and J. H.
Moore 44.000 shares.
Thus control of the Rock Island Co. Is
definitely lodged In the hands of
Phelps, Dodge A Co. and Judge Moore and his brother, who between them
hold, In round numbers, $30,000,000 out of the $54,000,000 of Rock
Island
This Is Independent of the holdings of D. G. Reid, about the
pref.
extent
of which conflicting reports are current In the financial
district.—V. 91,
p.
276.
San Antonio ft Rio Grande
Moore in the District Court at
RR.—Receivership.—Judge
Lagrange, Tex., on Sept. 8,
on application of Ed.
Nashville Chattanooga ft At. Louis
Roos,
appointed
Frank W. Matthews
Ry.—Report.—For receiver of the
year ending June 30:
company and of the Chapin Townsite Co.
The
Fiscal
Year—
Gross
Net
Other
Int.,Taxes,
Earnings. Earnings. Income. Rentals,Ac.
2,000*445
Dividends
Paid.
Balance,
Surplus.
road extends from San Juan, Tex., at a connection with
the St. Louis
Brownsville A Mexico, to Chapin, 9.8 miles.
D. B. Chapin is President
of both companies.
11,637,203 3,199,945 359,204
1908-09--.il,122,114 2,771,413 278,248 1,896,685 (6%)599,079
(5%)499,232 653,794
—V. 90, p. 168.
959^625
Sebasticook ft Moosehead RR.—Sale.—See Maine Central
RR. above.—V. 90, p. 977.
National Railways of Mexico.—Bonds
Galled.—Equipment
and collateral 5% gold bonds, second
series, issued by the
Mexican Central Ry. to the amount of
$47,000 will be paid
at par and interest at either the Old
Colony Trust Co. of Bos¬
ton, Manhattan Trust Co., New York, or Glyn, Mills, Cur¬
rie & Co., 67 Lombard St.,
London, E. C., on or after
Oct. 14910.
Earnings.—The results for the year ending June 80 1910,
we learn, show a surplus after cUvidends
on the first pre¬
ferred stock of *42,836,570^ against $5(^470 in
the fiscal year
1908*9.—V. 91, p. £89, 39.
Sedalia (Mo.) Light ft Traction
Go.—Deposits.—Time Ex¬
Sept. 27 1910.—The bondholders’ protective com¬
mittee, Otto T. Bannard, chairman, announces that $329,000
of the bonds have-been
deposited with the New York Trust
Co.; also that $152,000 have been deposited in Ghester, Pa.,
under an agreement to act in concert with the
committee,
making a total of $481,000 of the total issue of $749,000.
1909-rlO
tended to
The time for making further
deposits of these bonds with the committee
has been extended to Sept. 17. after which
they will be received on such
terms as the committee
may decide.—rV.
91, p. 519.
Southern Indiana Ry.—Reorganization.—The plan of re¬
organization
(V.91, p. 333, 337) has been Advertised the
New Brunswick Southern
%y.-~Pri>pog<sd Z«a*e.—The required length Of time, and, as no objection has been raised
shareholders will vote Dec. -38 on
leasing the railway to the by any of me bondholders, it has practically been adopted.
[VOL. LXXXXl
THE CHRONICLE
Re¬
The
-earnings have increased constantly from month to month
lor two years past and are now more than double, both in
gross and net, the earnings under the last year of the old man¬
In a short time the new company will be organized.
ceiver M. J. Carpenter has produced excellent results.
If the bondholders are successful In the suit, the Wabash-Pitts¬
burgh Terminal notes held by the Wabash RR. will become a mere unsecured
claim and rank after both the first and second mtge. Issues of the WabashPittsburgh Terminal Co.
latter.
The suit above mentioned and the one to enforce the
traffic agreement with the Wabash and the Wheeling &
Lake Erie, referred to last week (page 655), were,it is under¬
agement. Compare V. 91, p. 333, 337, 655.
Negotiations are pending for the sale to Eastern parties of stood, brought at the instance of the Wallace first mortgage
.$2,100,000 of the new 1st mtge. bonds at something above bondholders’ committee.—V. 91, p. 655, 398.
the price at which Chicago banks were willing to underwrite
West End Street Ry., Boston.—Increase of Stock.—The
them.
From the proceeds of the sale the floating debt will stockholders on Sept. 14 ratified the proposed increase of
be paid and $200,000 left in the treasury.—V. 91, p. 655, 337. common stock by the issue of not over 27,800 shares (par
Southern Ry.—Payment of Bonds.—The $500,000 Char¬ $50 each) to reimburse the Boston Elevated Ry. for addi¬
tions and improvements.
lotte Columbia & Augusta RR. 2d M. 7s maturing Oct. 1
The Massachusetts Railroad Commissioners have approved
will be paid, together with the October coupon, on that date
the
petition to issue the additional stock, which is to be
office
of
J.
at the
P. Morgan & Co., 23 Wall St.—V.90,p. 1364.
offered at $75 per share plus the amount of dividends that
Tennessee Central RR.—Settlement of Litigation.—The
shall have accrued under the provisions of the lease to Boston
differences between the company and the Illinois Central
Elevated Co. at the time of payment for same.—V. 91, p. 655 .
and Southern Ry. were adjusted in June last and the suits
(V. 88, p. 1063) brought by the two companies last named
will presently be withdrawn.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Traffic relations between the
companies have been restored.
American Ice Co., New York.—Mortgage Notes on New
,•
The Tennessee Central has paid, or soon will pay, the amount agreed upon
Acquisition.—The purchase by this company on Aug. 25 of
in satisfaction of all claims.
Business is reported to be good and the road,
the property of the 70th St. Hygeia Ice Co. for $100 and other
.it is said, is earning its fixed charges and receiving more business from its
connections than ever before.—V. 89, p. 666.
considerations was made subject to a prior mortgage of
Terre Haute (Ind.) Indianapolis & Eastern Traction Co.— $60,000 and also a mortgage dated Aug. 25 1910 given by
First Dividend.—A dividend of 134% has been declared on the American Ice Co. to the 70th St. Hygeia Ice Co. to
the $9,000,000 preferred stock (cumulative after July 1 1910) secure an issue of $253,800 6% notes, pay able in installments.
for the quarter ending Sept. 30, payable Oct. 1 to holders
The purchased property embraces the three-story brick ice plant Nos.
ana 521 East 70th St. and Nos. 520 and 522 East 71st St., vacant lot
of record on that date.
Checks will be mailed.
Com¬ 519
No. 514 East 71st St., with pipe line under 71st St. sidewalk.—V. 91, p. 591.
pare V. 90, p. 1555.
American Meter Co.—Dissolution.—A company of this
Third Avenue RR., New York.—Bondholders to Appeal to
name, presumably the original corporation organized in 1863
Courts.—Counsel for the bondholders’ committee on Wednes¬ and not the new
$8,000,000 concern, filed a certificate of
day requested Chairman Willcox of the Public Service Com¬ voluntary dissolution at Albany on Aug. 24. Compare
mission to enter a final order on the reorganization plan V.
91, p. 96.
(V. 90, p. 168) recently submitted. This is done with a view
Oilfields Co., Los Angeles, Cal.—Proposition to
American
to asking the courts for a writ of certiorari to review the
action of the commission.
The order was entered yester¬ Give $300 in Stock for Each $100 of Bonds Accompanied by
$50 Cash.-—A circular offers to the holders of the company’s
day.—Y. 90, p. 1045.
bonds, of which about $1,500,000 are reported to have been
Tombigbee Valley RR.—Guaranteed Bonds Offered.—See issued, the privilege of exchanging the same for stock on the
Mobile Terminal & Railway above.—V. 90, p. 978.
following basis until Oct. 20, namely: A $100 bond and $50
Underground Electric Rys. of London, Ltd.—Reserve for cash for three shares ($300) of stock. See Y. 91, p. 591.
Renewals, &c.—Attention is called to the fact that in our
American Pipe & Construction Co.—Series “A” Trust
statement of earnings for the operating companies covering
Certificates
Called.—The Girard Trust Co. of Philadelphia,
the half-years ending June 30 1910 and 1909, which was pub¬
trustee, announces that forty-five ($45,000) series “A” col¬
lished in the “Chronicle” of Aug. 27 (page 517), the item lateral trust certificates
of $1,000 each and ten ($5,000) of
“fixed charges” includes, in addition to interest and other
$500 each, issued under the former name of the American
deductions, which are compulsory payments, the following Pipe Mfg. Co., have
been drawn for payment at 102}^ and
voluntary appropriations on account of reserve for contin¬ interest on Oct. 1.
gencies and renewals:
New Bonds of Controlled Company.—See Selma Lighting
1910.
1909. J
1910. 1909.
Co.
below.—V. 90, p. 1693, 371, 169; V. 89, p. 472.
&
£4,000
£3,000
Baker St.
Waterloo £4,000
Ch. Cr. Eus. & Hamp.
£3,000
Gt. Nor. Pic. & Brom. 6,000
6,0001Metropolitan District.10,000 10,000
American Power & Light Co., New York .-^-Acquisition.—
—V. 91, p. 517, 465.
The company has acquired control of the Hanford Irrigation
Union Pacific RR.—Argument of Government Suit.—The
& Power Co., which owns the water power of Priest Rapids,
argument in the Government suit against the Harriman in the Columbia River, in Grant and Yakima counties,
lines has been set for Oct. 11.
The hearing will probably
Washington. (Compare V. 84, p. 868. V. 87, p. 290).
take place at St. Paul, Minn.
The taking of testimony was The property will be operated independently for the present.
completed several months ago.—V. 91, p. 393.
The Pacific Power & Light Co., which is controlled by the
Union Street Ry. of New Bedford, Mass.—Application to American Power & Light Co., now holds all the properties
Confirm Merger.—The company and the Dartmouth & West- of the latter company in that vicinity except the Hanford
port Street Ry. on Sept. 9 applied to the Massachusetts Co. and the Portland Gas & Coke Co.—V. 91, p. 465.
Railroad Commissioners for authority to consolidate the two.
American Tube & Stamping Co.—Bonds Called.—Ten
companies, per plan V. 91, p. 519, 465.
($10,000) first mortgage bonds of 1902 have been called for
United Railroads of Yucatan, Mexico (Ferro-Carriles Uni- redemption on Oct. 1 1910 at 105 and interest at the Trust
dos de Yucatan, Mexico).—Listed in London.—The London Co. of America of New York, trustee.—V. 89, p. 722.
Stock Exchange has listed scrip, fully paid for £745,000
Beaumont (Tex.) Gas Light Co.—Control.—See Texark¬
1st M. 5% redeemable gold bonds.
Compare V. 90, p. 1678. ana Gas & Electric Co. below.—V. 85, p. 223.
United Railways Co. of St. Louis.—No Dividend in Octo¬
Brooks-Scanlon Lumber Co.—Guaranteed Collateral Notes
ber.—It was announced on Sept. 14 that the quarterly divi¬
bond department of the American Trust &
Offered.—The
dend of 134% on
preferred stock ($16,983,200 5% cumu¬ Savings Bank of Chicago, the mortgage trustee, is offering
lative), which had been paid regularly since the first distri¬ at par and int. $750,000 6% sinking fund collateral trust
bution in April 1900, would not be paid as usual next month.
notes, unconditionally guaranteed by D. F. Brooks, A. S.
There is, it appears, a floating debt of about $1,300,000, for
Brooks, P. R. Brooks, M. J. Scanlon and B. F. Nelson of
the payment of which it is desired to provide.
The North Minneapolis. A circular says in substance:
American Co. some years ago acquired about $18,000,000
Dated May 1 1910: total auth. and outstanding, $1,500,000; due, $300,000
of the common stock, on which no dividends have ever been May 1 1913, $500,000 May 1 1914 and $700,000 May 1 1915, but redeemable
company’s option on any Int. day after May 1 1911, all or any part over
paid. An official statement signed by President Robert at
$100,000, when drawn by lot, at the following premiums: 3 years or more
McCulloch says:
before maturity, 3%;
The company has a floating debt of $1,300,000, all growing out of a bet¬
terment of the physical condition of the property, which condition Is con¬
fears,
nterest
1H%:
M. & 1 N.
year,
at office
1%: less
of trustee.
than one year no
stantly being Improved.
A duty to the preferred stockholders Impels a
suspension of the dividend until this Indebtedness is liquidated.
The divi¬
dend being cumulative, Its payment Is only deferred.—V. 90, p.. 1426.
Wabash-Pittsburgh Terminal Ry.—Suit to Recover Pitts¬
burgh Terminal RR. & Coal Co. Securities.—The Mercantile
Trust Co. of New York, as trustee for the Wabash-Pitts¬
burgh Terminal Ry. 1st M. bonds, has filed a suit in the
U. S. Circuit Court, Northern District of Ohio, against the
Wabash RR.Co., to compel the return of $14,000,000 stock
of the Pittsburgh Terminal RR. & Coal Co. and $3,800,000
of the same company’s consolidated mortgage bonds. These
securities have been deposited as collateral for notes of the
Wabash-Pittsburgh Terminal Ry., the last-named notes
in turn forming part of the collateral for the issue of $5,000,000 notes of the Wabash RR., made to reimburse the Wa¬
bash for advances.
See V. 90, p. 915.
It Is claimed by the trustee that the stock and bonds were the property
■of the Wabash-Pittsburgh Terminal Ry.Co.,acquired out of proceeds from
the sale of the latter’s first mtge. bonds, and should therefore have been
made subject to the lien of these bonds Instead of being turned over to the
Wabash RR., as they practically were, as security for the advances of the
2&
years
before maturity, 2H%; 2 years, 2%; 1X
Security Deposited with Trustee.
premium. Par, $1,000.
Total Value. $3,541,350.
(a) Powell River Paper Co. 1st mtge. 6% bonds^..
..$1,500,000
(5) 1,160 shares Scanlon-Gipson Lumber Co. stock (company
has no bonds or liabilities and agrees not to create any)
404,000
(c) 190 shares Brooks-Robertson Lumber Co. stock (company has
no bonds or liabilities and agrees not to create any)
297,350
(d) 4,000 shares B. F. Nelson & Sons Co. stock
540,000
(e) Timber leases (assigned to trustee) from British Columbia
Gov’t on 18,310 acres of choice timber lands
800,000
The guarantors may withdraw collateral "6”, “c” and “d” by paying to
the sinking fund the appraised value as above shown: also any part
at par and int.
The Scanlon-Gipson Lumber Co.
Co. expect to sell their holdings within a year or two, when their stock will
be released and the note issue reduced by amount shown.
The Brooks-
of “a”
and Brooks-Robertson
Scanlon Lumber Co. is now cutting timber, and, with B. F. Nelson, agrees
to pay annually to the sinking fund $3 17 X per 1,000 feet of timber cut,
which, at present rate of cutting, should reduce the note issue over $125,000
By this sinking fund and the sale of collateral, the lumber comannually.
expects to retire the entire note issue before maturity,
e notes are unconditionally guaranteed as to prin. and Int., jointly and
severally, by successful business men of long experience and large means,
their aggregate wealth being over $4,500,000 aside from the property se¬
curing these notes.
Upon the completion of the pulp and paper mills of the Powell River Paper
Co., its earnings from the sale of paper, an expert estimates, shoul1 approxi¬
mate $300,000 per annum, and there should be a further profit of $100,000
or more
per annum
from the sale of logs cut on pulpwood leases.
The stook-
Sept. 171910.}
'
THE CHRONICLE
holders of the Brooks-Scanlon Lumber Co. and B. F. Nelson own
the stock
of the Powell River Paper Co., Ltd., and have issued
these notes in order
to Improve Its property.
The proceeds of the notes will be held by
the
trustee and paid over to the
Paper Co. from time to time as expended, on
engineers’ certificates.
The Paper Company (1) owns leases from the British
Col. Gov’t covering
135,000 acres of timber lands, estimated to contain
4,250,000,000 feet of
merchantable timber (fir, cedar and spruce), and about
4,250,000,000 feet
additional suitable for pulp wood.
(2) It owns a water power on the Powell
River, est. capacity 30,000 h. p. at minimum flow, and will build
a dam for
this entire 30,000 h. p. and completely
develop not less than 10,000 h. p.
font he operation of Its mills.
(3) It will also erect a paper mill of 100
tons
daily capacity of news print, and ground-wood pulp mills to
supply said
plants. These Improvements, together with wharves,
sidings, &c., will
cost about 51,750,000
(Including a sulphite plant to cost
ing the total value of the paper company’s property, it is 5250,000), mak¬
estimated, over
54,000,000.
These notes are safeguarded: (1) By pledge of
bonds covering the
prop¬
erty of the Paper Co., which, it is estimated, will have a value
exceeding
54,000,000 upon completion of paper mill in 1911; (2)
by
other
collateral
valued at over 52,000,000; (3) by
guaranty of 5 men with net assets of
over 54,500,000.
At no time will the amount of
exceed one-fourth the value of the
thesejiotes^outstanding
security.
Canadian Car & Foundry Co.—Listed in
London.—The
London Stock Exchange has listed the
lative preference stock, par $100
V. 91, p. 465.
$5,000,000 7% cumu¬
(V. 90, p. 170, 374).—
Canadian Cottons, Ltd.—Lease of Mill.—See
Dominion
Textile Co. below.—V. 91, p. 465.
Dominion Textile Co.,
Montreal.—Lease.—The company
has leased the mill of the Mt.
Royal Spinning Co. from the
Canadian Cottons, Ltd. (V. 91, p. 465,
339; V. 90, p. 1241),
a period
of ten years.
Chambersburg
on
Federal Telephone &
Telegraph Go., Buffalo, N. Y.Report.—For the 6 months ending June
30:
Six
Months—
1910
1909
—V. 91, p.
Gross
Earnings
$428,480
374,702
591, 216.
Expenses
and Taxes.
$183,588
178.983
Net
Earnings.
$244,892
195,719
Interest
on
on
Balance,
Bonds, &c.
5123,915
116,714
Surplus.
5120,977
79,005
Gainesville
(Tex.) Water Co.—Foreclosure Sale.—The
Farmers’ Loan & Trust Co. of New
York, as trustee under
the mortgage
securing $100,000 bonds, will, under the power
of sale contained
therein, sell the property at auction on
Oct. 26 at Gainesville, Tex.—V.
89, p. 106.
General Motors Co., New
York.—Financing a Subsidiary
—Further Data.—The Detroit
correspondent of the “Iron
Trade Review” of Cleveland
says:
A
meeting of the bank and merchandise creditors of the
Buick Motor Colast week in New York, when it was
shown that the bank indebted¬
$2,700,000 and merchandise indebtedness of
between
and $5,000,000.
$4,000,000
Rather than have the credit of
the industry disturbed
the banks agreed to an extension of
the company’s loans for
one
have further advanced
year and
$2,500,000 to take care of pressing claims.
this new loan the banks take as
For
collateral stock In the Cadillac and
Olds
Motor companies.
If the earnings for these two
companies equal in 1911
those of 1910, the debt will be
easily taken care of.
It is commonly reported
that these two companies earned
this year
considerably
over $3,000,000.
Many of the merchandise creditors have taken
notes, with the
understanding that they can be renewed for like 80-day
periods up to one year.
In this way the Buick Co.
should be able to clear up its
obligations within
the year.
An inventory of the
which nearly $4,000,000 was In company’s assets showed $11,000,000, of
material.
The
was held
ness was
company claims to have
cars unsold at the present
time.
A general committee of
creditors
has appointed Ralph Van
Vechten,
Vice-Pres.
of
the Commercial Nat.
Bank of Chicago, as its
Chairman, and it is expected the affairs of the
company will be submitted to him for approval.
There will be a
zation of the management and
enthusiasm held in check until all reorgani¬
debts are
paid (compare V. 91, p. 657).
3,000
for
The rental, it s said, will easily meet interest
and dividends
Royal company’s proportion of the Canadian Colored Cotton
bonds and stocks.—V. 90, p. 1553.
719
the Mt.
Company’s
[A
squib on Sept. 2 said:
Co.—Bonds Called.—Ten price newspaper
from $1,600 to $1,700, the entire “Notwithstanding an increase in
output of the Cadillac Motor Car
Co. for 1911, consisting
($10,000) bonds dated Oct. 1 1906, namely Nos. 6, 32,
of 12,000 cars, has already been
contracted for by
the 134 agents of the
84, 103, 124, 130, 134, 146 and 159, have been drawn 56,
concern.”—Ed. Chronicle.]—V. 91,
p. 657.
for
Hanford Irrigation & Power
redemption on Oct. 1 at 105 and interest at the office of the
Co.,
Seattle.—Sale.—See
Girard Trust Co., Philadelphia,
American Power & Light Co. above.—V.
trustee.—V. 89, p. 780.
87, p. 290. '
Colorado Springs (Colo.) Light, Heat & Power
Haverhill (Mass.) Gas Light
Co.—Bonds
Co.—Litigation
Ended—Price
Called.—The $300,000 3-year 6% debenture
gold notes issued Reduced.—The United States Circuit Court at Boston on
by the predecessor company (Colorado Springs Electric Co.), Aug. 31 entered its decree in the
long-pending suit (V. 84;,
dated Oct. 1 1908, have been called for
payment at par on p. 1370) over the rate matter, which has been adjusted by
Oct. 1 at the Colorado Title & Trust
Co., Colorado Springs, agreement with the city.
Colo.—V. 91, p. 466.
The State Commission of Gas &
Electricity in 1900 fixed the rate at
80 cents per 1,000 cubic feet and
the matter has been in
litigation ever since.
Columbia Plate Glass Co., Blairsville, Pa.—Stock to Be The order entered made the previous rate ($1 per 1,000
)valid, but under
agreement with the city, the price now
becomes 90 cents net (retroactive to
Reduced.—The stockholders voted March 3 to reduce
the July 1 1909) per 1,000 up to July 1 1911. From July 1 1911
until the
company shall sell 450 million
capital stock from $1,250,000 to
ft. in any one year, the rate is
to be
1296. 85 cents; thereafter 80 cents. cu.
$1,000,000.—V.77,p.
The present annual
output Is about 21b
Consolidated Gas, Electric Light & Power
million cu. ft.—V. 84, p. 1370.
Co.,
Baltimore.
—Guaranteed Bonds.—See Roland Park Electric
Houston (Tex.) Gas Co.—Sale
& Water
of Additional 1st M. 5s.—
Co. below.—V. 91, p. 41.
The company has just issued
$65,000 of its 1st M. 5% gold
Denver (Colo.) Gas & Electric Co.—Note
bonds, dated March 1 1905 and due March 1 1920, against
Offering.—Wm. expenditures on extensions and
A. Read & Co., New
permanent improvements
York, are offering at par and int. the
unsold portion of $1,000,000
aggregating $87,152. This makes outstanding
one-year 6% coupon notes.
$825,000
bonds
of the total issue of
Par value of notes, 55,000.
$1,000,000. (Compare V. 86,
Dated Sept. 6 1910 and due
Sept. 0 1911. p. 423.)
Interest (Q.-M. 6) and principal
The business is developing rapidly.
payable in New York.
These notes are
the direct obligation of the
company, unsecured by
Engineering
—
„
the endorsement of
12 Mos. to—
collateral, but bearing
Henry L. Doherty & Co.
Gross.
June 301910
June301909
Dividend rate, 6%
p. 656, 654.
Net.
Chges.
Surp. % on Stk
51.104,864 5431.164 5673,700 19.22
2,356,583
998,559
392,147
606,412
17.3
on 53,500,000 stock since
July 1907. Compare V. 91,
52,561,811
Results for the Years ended June 30
1910 and 1909.
1910.
1909. |
1910.
Gross earnings
$296,709 $239,653 Int. on 1st 5s
$38,000
Net (after taxes)
125.918
106,6631 Surplus
_
87,918
1909.
Not
stated'.
Franchise Extended—New Bond Issue
Later.—The rapid
growth of the city makes it necessary that the
“pipes, mains
and business be
greatly extended.” For
(E. I.) du Pont de Nemours Powder Co.,
Wilmington, Del.
this purpose,
—Options to Subscribe.—Common stockholders of record as a new issue of mtge. bonds will be
of Sept. 1 1910 are entitled to
necessary,
the right
to
issue bonds under the
subscribe until Oct. 15 at the
present $1,000,000 5% 1st M. due
office of Treasurer P. S. du Pont in
March
1
1920 being about exhausted.
Wilmington for an amount
There are also out¬
of common stock
(say, $841,000) equal to 3% of their present standing $110,000 debenture 6s due $10,000
yearly. To fa¬
holdings, payment therefor to be made on or before Oct. 15 cilitate future financing, the
City Council some weeks
1910 at the rate of $140
per share.
ago extended the franchise of March 14 1898
(granted to the
All shareholders, both common
and preferred, have the predecessor company, the Houston Gas
Light
Co.) from
right to subscribe at said office at $80 per share on or before March 13 1928 until
July 1 1940. No new bond issue,
Jan. 1 1911 for
$1,682,000 new preferred stock, all of which however, is contemplated at this time.
has been underwritten
The extended franchise
by a syndicate at that price. Sub¬
[given In full In
that the price of gas, which under "Houston Post” of July 6] pro¬
scriptions are payable in full Jan. 1 1911 or in six install¬ vides
the old franchise was limited
$1 80 per 1,000 cubic feet (but had
to
ments during the
lately been $1 25 gross and $1 15 net)
shall be reduced Sept. 1 1910 to
year 1911 as follows: 15% each Jan. 1,
$1 20, on March 1 1911 to $1
1 1912 to $1 10, with in each
Feb. 1, March 1 and
on
Ma
April 1 and 20% each May 1 and June 1. for prompt payment. The case a discount of 10c. pear 1,000 15,
cubic feet
—V.
company covenants to
■
*
91, p. 520.
East
Jersey Water
mortgage,
dated Jan. 1 1909, was Co.—Mortgage.—A
some time ago filed for record to secure
$800,000 5% bonds of $1,000 each, due Jan. 1
1958, but
callable at 105 on any interest
day; interest J. & J.; Bankers1
Trust Co., New York, trustee.
blanket
The mortgage covers the Garret
Mt. reservoir and pipe
lines, &c., in
Little Falls, Wayne and
Manchester, Passaic County, and Bloomfield and
Nutley in Essex County. On Feb. 20 1901 the
capital stock was reduced
to 5500,000.
The New Jersey General
Co., a $2,000,000 corpora¬
tion, of which Geo. F. Baker of N. Y. Security
is President, owns
control, and the
mortgage. It is stated, is made largely to
provide that company with funds
for reorganizing three
electric and gas properties in Indiana
and Ohio.
The Security Co. also controls the
Montclair Water Co. (stock, $500,000;
bonds, $500,000 5s due Jan. 1 1946);
Jersey City Water Supply Co. (V. 86,
p. 1288); Passaic Water Co.,
Acquackanonk (N. J.) Water Co., Lincoln (III.)
Water & Light Co. (V.
75, p. 796); Circleville (O.) Water
Supply Co.,
Kearney Water Co., Dundee Water Power & Land
Co.—V. 86, p. 1103.
Edison Electric
year
Illuminating Co.
ending June 30:
of
Boston.—Report.—For
pay to the city 1% of
its gross receipts from the sale
of gas.
Upon the expiration of the franchise
the city will have the right to
the property at the fair
buy
replacement value,
less a proper deduction for
depreciation, but without allowance for franchise
or for the fact that the
oempany Is a going concern.
Such
value Is to be de¬
termined by a board of arbitrators In case
the city authorities and a
resentative of the company fall to
rep¬
agree as to same.
[Cap. stock: Common,
authorized $1,100,000, Issued at last
accounts $549,900; pref. 6%,
par $100.
$100,000;
Annual sales reported as
approximately 235,000,000 cubic feet.
Pres., James A. Baker; Sec., C. H.
Dunbar; Treas., J. H. McClung.]
Compare V. 86, p. 423.
Huntington Land & Improvement Co., Los Angeles.—
Offering of Guaranteed Bonds.—C. E. Woodside &
Los
Angeles, are offering collateral trust gold debenture Co.,
note 6s,
tax-exempt in California; authorized issue, $1,000,000. An
advertisement says:
Three-year coupon notes, quarterly
Interest, denomination $1,000,
secured: (a) By real estate
appraised at $10,000,000, which Is
free of incumbrance; (b)
by
the deposit with the trustee of absolutely
1st M. 5% bonds of the Los
$1,750,000
Angeles & Redondo RR. Co.
(see Electric”
Railway” Section, p. 66); (c) by the personal
H.
guaranty of
E. Hunt¬
ington, endorsed on each note.
Ingersoll-Rand Co., New York.—Proposition to
Permit
Preferred Shareholders to Exchange Their
Holdingsfor Common,
Dollar for Dollar.—The
stockholders will vote Oct. 4 on a
“resolution declaring it to be
advisable, to the extent that
holders thereof shall consent
thereto,
to redeem and to retire
the shares of the
El Paso (Tex.) Gas & Electric
pref. stock now outstanding out of the
Co.—Earnings—Guaranteed
common stock to be
Notes.—See Western Gas Improvement
issued, share for share, in
Co., Y. 91, p.658.—
V. 90, p. 852.
therefor”; also on authorizing the directors to sellexchange
for not
less than par common stock to the
Federal Furnace Co., Chicago.—New
extent of 3,452 shares
Stock.—The share¬ received in
holders have authorized an increase of the
exchange for the pref. stock now held in the
capital stock from treasury, to such
$1,200,000 to $1,800,000.—V. 86, p. 1533.’
employees, other than directors, and in
such amounts as the board
may from time to time determine.
Gross
Net
Misc.
Interest
Misc.
Balance,
Earnings. Earnings. Income. Paid. Charges. Dividend
(11%). Sur.orDeJ.
Year—
$
^
$
$
$
$
$
$
•’09-’10_4,709,456 2,020,736 80,202 166,777 85,511
’08-’09-4,111,342 1,345,313 45,360 86,846 20,797 1,555,596 sur.293,054
1,424,389 def.141,359
—V. 90, p. 1680.
f
.
/
i
THE CHRONIGTE
^Condensed Extract from
The company
common
stock.
(jircuiar^signed^b^Prest. Wm. L. Saunders,
has outgtapdlng<$4,80b,p00 of*prof, stock and
.Since orgapLzaton In 100$, semi-annual 3%
have been regubvriypadd upon the pref. stock
5% was paid upon the epmmon stock.
$3,000,000
dividends
-In April 1910 a dividend of
After full consideration and
after discussion with some of the principal stockholders, It is the unanimous
opinion of the directors that a re-arrangement of capitalization by
retirement of the preferred, or a substantial portion thereof, in exchange
Armour, of \Armour & Co.; President Edward Morris, of
Morris & Go., and others. No new indictments were found
against any pf the corporations named.
The former indictments, it is held, failed to state the defendants were
engaged in iater-State commerce.
The general averment that they were
engaged in a combination in restraint of Inter-State trade IS said to be a
conclusion and therefore insufficient.—-V. 90, p. 85$.
the
New
Philadelphia (0.) Water Go.—Sale to City.-r-See New
Tor common stock to be issued therefor, would be of advantage to the
company. Dividends of 6% on the pref. stock are cumulative, and by
Philadelphia, Ohio, in “State and City1’ department on
retiring pref. stock the company reduces what is in the nature of a fixed
charge.
It is therefore proposed that to the extent that holders thereof another page; also V. 91, p. 354.—V. 78, p. 232.
aball consent .thereto, ,the shares of the pref. stock now outstanding
Ontario Power Go. of Niagara Palls, N. Y.—Lease with
Shall be redeemed opt of common stock to be issued, share for share, in
exchange therefor.-rrV. 90, p. 917, 912.
Option to Purchase.—This company, which owns the $1,0Q0,InteniationalStaamPump Go.—Earnings.—For the quar¬ 000 capital stock of the Ontario Transmission Co. and guar¬
ter ending June 30 1010:
antees its bonds (V. 89, p. 352), has taken over the com¬
$214,950 pany's property under lease dated April 20 1910 and running
dividends
Net profits
$619,674 Preferred
Reserved for sinking fund
Deduct—
53,750 to April 1 1950, with option to purchase outright or to renew
proportion for 3 months
Depreciation
...$123,736
mere
._
Int. on I. S.
IP. bonds
Other interest-..—
Discount on bonds
-4V. 91. p. 279.
106,250
11,750
17,100
Total deductions
Balance, surplus
$527,536
$89,338
Kankakee (HI.) Gas & Electric Go.—Consolidation—Stock
Increase.—This company on Aug. 31 filed in Illinois a certifi¬
cate of increase of capital stock from $5,000 to $850,000, for
operating
which
& Co. of Grand Rapids.
the purpose, it is supposed, of consolidating and
the electric power and light enterprises of Kankakee and
vicinity, including a hydro-electric plant, &c.,
were
recently acquired by Kelsey, Brewer
,Bonded or other indebtedness not known.
The Kankakee (Ill.) Power Co. was Incorporated In Delaware on or about
May 11 with $600,000 of authorized capital stock.
The Citizens’ Gas Co.
of Kankakee on Aug. 31 T910 filed a certificate of change of corporate
the lease for 40 years.
Francis Ralston Welsh,
109-111 South 4th St.,
phia, who has long made a specialty of dealing in
pany’s securities, wrote on Sept. 8:
Philadel¬
the com¬
The Ontario Power Co. has leased the property of the Transmission Co.,
agreeing to pay a rental of $2 50 per horse-power transmitted with a mini¬
mum amount equal to interest on the Transmission Co.’s bonds, together
with operating expenses, taxes, &c.
Under the terms of this lease the
Power Co. has an option to purchase the property of the Transmission Co.
as soon as the bonds of the latter are paid, but It already owns it through
ownership of all the stock of the Transmission Co.
The second conduit of the Ontario Power Co. Is completed and the water
has been turned Into It.
Seven units, aggregating
pleted and three more units of 36,000 h. p. capacity
78.Q00 h. p., are com¬
are
under construction.
bonds,
fund
buy
The company
object.
authorized stock
.and the
Keystone Watch Case Go. of Philadelphia.—Acquisition.
—Seven deeds were filed in the Register’s office in Jersey
capacity of 162,000
and ultimately to build a third conduit
‘City on Jan. 28 transferring to the company the plant of the and seven additional units. The Intake
is sufficient for three conduits or
New York Standard Wateh Case Co. located at Lafayette. 200,000 h, p. Demand for power is steadily Increasing, and July and
The property oonveyed includes the factory on the southeast corner
August have made new high records for earnings. The Transmission Co.
of Communipaw Ave. and Woodward St., also the buildings on Woodward
has outstanding $1,545,000 first mortgage bonds.
fit. aod « parcel of land looated on the west side of Van Home St. 475feet
The net earnings for the year ending June 30 were considerably In excess
The
consideration
was
not
made
south from Communipaw Ave.
paid
of twice the company’s first mortgage Interest charge for the period, and In
excess
of all its fixed charges of every kind.
Compare V. 91. p. 399, 280.
public, that mentioned in the deeds being nominal.
Suit.—A suit was begun in the United States Circuit Court
Ontario Power Transmission Go.—Lease.—See Ontario
at Cincinnati, O., some time since by the Dueber Watch Case
Power Co. above.
Mfg. Go. of Canton, O., against the company and others,
Use of Company's Lines in Canada.—The town of Berlin,
^alleging violation of the Sherman Anti-Trust Law.
Ont., on Sept. 11 was the first in Canada to have its streets
The defendants named are the Keystone Co., the New York Watch Case illuminated with electric power generated at Niagara Falls
Oo. and the Cresoent Watch Co., of Riverside; the E. Howard WatchCo..
and conveyed over the transmission lines of this company
Of Waltham, Mass.; the Philadelphia Watch Case Co., of Riverside, N. J.,
It is alleged that the defendants combined to and the connecting lines erected by the Hydro-Electric
and some Individuals.
restrain trade by forbidding jobbers handling their goods to sell watches
Commission of the Ontario Government.
See V. 89, p.
•made by other concerns, a circular letter dated Jan. 15 last being cited.
The actual damage claimed is $125,000, but under the provision of the
352.
Attorney-General
Sherman law triple damages ($375,000) are demanded.
^Denman of Ohio early In September rendered an opinion advising the Secre¬
Pacific Telephone & Telegraph Co.—Listed.—The New
tary of State that, being a ministerial and not a discretionary official, he
York
Stock Exchange has listed $1,300,000 additional 1st
could not grant the application of the Dueber Co. to recall the charter of
Hie company In Ohio on the ground that it was acting In restraint of trade.
M. and collateral trust 30-year 5% bonds due 1937, with
r~~V. 87, p. 483.
authority to add prior to Jan. 1 1911 $3,700,000 additional
La Belle Iron Works Go., Wheeling, W. Va.—Report.— bonds on notice of issuance and sale, making the total
For the fiscal years ending June 30:
amount to be listed $28,000,000.
Fiscal
Net
Cash
Depr.,
Bond
Special Balance,
The proceeds of the $5,000,000 bonds will be used for Improvements,
Year—
earnings.
Ac.
Interest.
Divs.
Deprec. Surplus. additions,
extensions and new property made and acquired by the com¬
1909-10 ..$2,227,329 $59,743 $137,895 (9%)$892,339 $250,000 $887,352
or loaned by it to one of its subsidiary companies for similar purposes.
1908-09
1,854,830 40,436 143,710 (8%) 793,120 250,000 627,564 pany
Of the bonds, $1,300,000 have been certified and delivered, and It Is ex¬
—V. 90, p. 562.
pected tbe balance will be before Dec. 31 1910. Compare V. 90, p. 854.
May Department Stores Co.—First Dividend.—An initial
Earnings.—For the 6 months .ending June 30 1910:
quarterly dividend of \%% has been declared on the $5,000,Period
Total
Net
Interest
Preferred Maint. Bal.,
000 preferred stock, payable Oct. 1 1910 to holders of record
Covered—
Revenue. Revenue.
Paid.
Dividends. Reserve. Surp.
8 mos. ending
Sept. 20. David May is President. N. Y. office, 15 Broad
JuneSO 1910.6.776,662 1,497,653
761,828 (3)540,000
195,825
St.
Compare V. 90, p. 1617, 1681.
Cal. year 1909.12,885,018 3,110,660 1,267,131 (6)1,080,000 600,000 163,528
—V. 91, p. 152.
Metropolitan Gas & Electric Go., Chicago.—Further Prop¬
Pabst Brewing Go., Milwaukee.—Stock Dividend.—This
erties Owned or Operated by Dawes Interests.—See Texarkana
Gas & Electric Co. below; also Western Gas Improvement Wisconsin corporation filed June 16 a certificate of increase
Co. on page 658 of last week’s issue.
This last-named state¬ of authorized capital stock from $10,000,000 (all common)
ment contains earnings, &c., of the El Paso Gas & Electric to $12,000,000, the additional stock to consist of $2,000,000
7% pref., in order to declare a stock dividend of 20% in
Co.—V. 91, p. 340.
pref.
and 5% in unissued common, for the distribution
Miller & Lux, Inc., of Nevada.—Bond Issue.—The minority
accumulated surplus.
stockholders, the heirs of Charles Lux, who died in 1887,
The trustees for the four heirs of Frederick D. Pabst, namely, Emma
have accepted the bonds of the company in exchange for Marie Pabst, commonly called Elsbeth; Emma Soehnleln, Edith Soehnlein
their stock, leaving Henry Miller the sole owner of the stock. and Beatrice Soehnleln. were on July 7 1910 authorized by the Court to
sell all or any part of the holdings of the stock and the preferred has accord¬
The Bank of California, San Francisco, it is understood,
ingly been marketed (see V. 91, p. 42).
Elsbeth Pabst. after the declara¬
tion of the aforesaid dividends, had $267,600 pref. and $1,404,900 common;
arranged the exchange.
$83,600
$438,900 com. and a third had
another
of
tbe
heirs
had
pref.
and
The hoods are $5,000,000 25-year 5s and they were Issued to Mr. Miller
$212,600 pref. and $1,116,150 common.—V. 91, p. 42.
to cancel a debt of the company to him; they are callable at par on any int.
date, and the sinking fund payments due at the end of the 8th, 13th, 18th
People’s Electric Light & Power Go., Oakland, Gal.—
und 23d years should retire a little over half of the bonds at maturity. The
Bond Issue for New Enterprise.—The shareholders recently
security consists chiefly of agricultural and grazing lands in California,
Nevada and Oregon.
A San Francisco paper says: "The company owns
voted to issue $250,000 30-year 5% bonds, to be dated July 1;
1,000,000 acres of land. Including 200,000 in Oregon, 200,000 In Nevada
and 600,000 In some 24 counties of California.
In Kern County alone there denominations, $1,000, $500 and $250.
are 180,000 acres.
Most of the land to-day Is used for grazing purposes;
The company was incorporated in California on or about Dec. 23 1909
on It there are now 250,000 head of cattle and 250,000 sheep.
Consider¬ with
$500,000 auth. capital stock, of which $300,000 is common and $200,able of the land Is In a high state of cultivation.
The capital stock of the 000
pref. stock; all of the common and none of the pref. stock was subscribed
oompany (lncorp. in Nevada May 22 1908) is $12,000,000.”
for.
Pres., D. U. Toffelmeier of San Leandro, Cal.; Sec., C. L. Best.
National Lead Oo.—New Officers.—W. W Lawrence, Directors; J. H. Hornung, A. C. Sprout, E. W. Crozer and W. H. Spauld¬
ing.
The company is preparing to establish a distributing plant near San
formerly a Vice-President, has been elected President to Leandro, it has been spoken of as an adjunct of the Great Western
succeed the late L. A. Cole, and E. J. Cornish was chosen Power Co. (V. 89. p. 1485, 1283.)
Vice-President in place of Mr. Lawrence, and M. D. Cole,
People’s Gas Light & Coke Go., Chicago.—Bonds Sold.—
Assistant Secretary and son of the late President, was made J. & W. Seligman & Co. of N. Y. and the Continental & Com¬
Treasurer, succeeding E. F. Beale.—V. 91, p. 218.
mercial Trust & Sav. Bank of Chicago and Central Trust Co.
National Packing Go.—Demurrers to Indictments Sustained of Illinois have purchased,and will shortly offer, $2,000,000
—New Indictments.—Judge Landis in the U. S. District refunding 5s dated Sept. 1 1897 and due Sept. 1 1947.
The
Court at Chicago on June 23 sustained the demurrers to the bonds are part of $3,000,000 issued to reimburse the com¬
indictments against the company and ten subsidiaries which pany for improvements and property expenditures made
were handed down by the Grand Jury on March 21 last on
subsequent to December 1899.—V. 91, p. 280.
the ground that the same were defective. The Court called
Phelps, Dodge & Co.—-Purchase of Rock Island Stock by
a special Grand Jury panel for July 14.
The latter, at the Interests
that Control the Company.—See Rock Island Com¬
suggestion of the Court, on Sept. 12 found three indictments
under “Railroads” above.
against ten officers of the so-called “Beef Trust,” including pany
Ore Production.—The production of copper ore by the
President L. F. Swift, of Swift & Co.; President Edward
Tilden, of the National Packing Co.; President J. Ogden Copper Queen, Detroit and Moctezuma mines owned by
The Ontario Power Co. has issued In all $6,900,000 first mortgage
of which $62,000 have been retired by the sinking fund.
This sinking
Is sufficient to retire about half the bonds before maturity and must
them in the open market up to a limit of 110 and interest.
also has Issued $3,000,000 debenture bonds, and has an
issue of $10,000,000, of which amount $6,585,000 Is outstanding,
remainder of the $10,000,000 is being Issued from time to time as construc¬
tion progresses.
It Is proposed to place 14 units with a
h. p. on the present two conduits,
—
of
Sept. 17
1910.)
THE CHRONICLE
Phelps, Dodge & Co. for eight months of this year, viz.,
January*August, was 78,917,104 lbs., as compared with
83,208,228 lbs. for the same period in 1909, was as follows:
Pounds.
January
February
March
April
1910.
1909.
Pounds.
10,633,620 11,389,569 May
8,653,166 10,253,448 June
9,786,726 10,789,066 July
9,480,150
9,837,226 August
—
1910.
1909.
10,038,177 10,281,778
9,918,311 10,279,221
10,519,336 9,650,562
9,887,618 10,727,358
Total (pounds) for eight months.
78,917,104 83,208,228
Custom ores business added a further amount for the current
year of
_
16,730,578 pounds In 1910.—V. 88, p. 280.
Boland Park Electric & Water Co., Baltimore.—Guar anteed Bonds.—Mackubin, Goodrich & Co., Baltimore,
offered
some weeks ago, on a basis to
yield over 5% income, a small
block of 1st M. 5% gold bonds, due Feb. 1937; auth.
issue,
$400,000; outstanding, $300,000; guaranteed, prin. & int.,
by endorsement on each bond, by the Consolidated Gas,
Electric Light & Power Co. of Baltimore.
The firm say:
Has the perpetual and exclusive right to use the streets, roads,
&c.,
for overhead and underground construction on all lands now owned or
hereafter acquired by the Roland Park Co.
Every resident In Roland
Park, we are told, Is a consumer, and all new buildings constructed are
wired for electric lighting.
The Consolidated Gas, Electric Light & Power
Co. controls the Roland Park Electric & Water Co. through stock owner¬
ship and guarantees, by stamped endorsement on each bond, the payment
of Doth principal and interest.
Sacramento Valley Power 0o.t Bedding, Cal.—New Enter¬
prise—Bonds.—A first mortgage has been filed to the Central
Trust Co. of San Francisco, as trustee, to secure an issue of
$500,000 6% 20-year bonds, of which $300,000 are out.
The company was Incorporated In California March 17 1909, with
$800,"
000 of authorized capital stock, of which 5653,214 is
outstanding in shares
of $2 each, to supply light and power In the Sacramento
Valley. Its water
rights include: Feather River In Shasta County, 20,000 Inches; Bear Creek,
2,000 inches; Lost Creek, 1,000, Snow Creek, 6,000.
The company Is
operating two hydro-electric plants, with output capacity of 3,600 h. p.,
which Is to be Increased to 15,000 h. p.
Power Is to be transmitted to
Redding. Anderson, Cottonwood, Chico, Coming and Red Bluff.
Bonds
dated May 1 1909, due May 1 1929, but callable on and after 1919 at 105.
Sinking fund of 2 4% begins In 1912.
Int. M. & N. at office of trustee.
Par 1500 and $100.
No prior liens.
Pres., A. F. Smith; Sec., A. W.
Smith, both of Redding, Cal.
Selma (Ala.)
Lighting Oo.—New Mortgage.—This
com¬
pany, controlled by the American Pipe & Construction Co.
of Philadelphia (which also controls the Selma Street &
Suburban Ry.), recently made a general
mortgage to secure
an authorized issue of
$1,000,000 5% bonds, dated Dec. 1
1909, due Dec. 1 1939. Interest payable J. & D. at the
West End Trust Co., trustee, Philadelphia. These bonddo not in any
manner cover the property of the street rails
way, which is an entirely different company.
Incorporated In Alabama May 2 1902 to supply gas and electricity, and
made an Issue of $250,000 first mortgage 5s, dated 1902 and due June 2
1932,
all now outstanding; Interest J. & D. at West End Trust Co
,
Philadelphia,
trustee.
Par, $500, $1,000.
Stock, $100,000 in $100 shares. Pres., Jos. S.
Keen Jr.: V.-P. and Treas., Geo. M. Bunting; Sec. and
Asst.Treas.,H.
Bayard Hodge; Treas. and Asst. Sec., W. H.Roth. Office, 112 Norh
Broad Street, Philadelphia.
731
Texarkana Gas & Electric Co.,
Texarkana, Tex., and Ark.
Offered.—Chas. S. Kidder & Co., Chicago, are offer¬
ing the unsold portion of $200,000 1st M. 5% gold bonds,
dated 1905 and due July 1 1930, but redeemable at 105
and
int. on any interest date.
Semi-annual interest payable at
Central Trust Co. of Illinois, trustee,
Chicago. Par $500
—Bonds
(c*).
A circular shows:
Financial statement: Capital stock, $200,000.
1st M. bonds authorized,
$1,000,000; outstanding, $593,000; reserved for additions, extensions and
betterments under careful restrictions, $407,000.
Texarkana Is located on the State line between Texas and
Arkansas. It
has a population of 25,000 and has shown rapid
growth, being a division
point for four competing railroads.
A well-built modern city with extensive
manufacturing and jobbing industries; the banking point for a rich agricul¬
tural section.
Incorporated In Arkansas and has authority to do business In
Texas.
Owns up-to-date brick and steel electrical station; gas
plant
sending out natural gas, which Is piped to Texarkana, 40 miles, Dy a sub¬
company (controlled by the owners), already saving the property largely
as to fuel and
promising greatly Increased revenue through sales to manu¬
facturing concerns which have already contracted for gas. Artificial gets
plant for emergency use.
The street railway, recently acquired, has been
rehabilitated and Is showing excellent earnings.
Franchises for gas, elec¬
tricity and street railway In both cities run for 50 years from 1900; also has
a profitable street-lighting contract for 15
years from 1903.
Owned and operated by interests (the Dawes or Metropolitan Gas St
Electric Co. of Chicago Interests: V. 91, p. 340; V. 86, p. 1534; V. 83, d. 275
—Ed.], which control similar properties at Mobile (Mobile Gas Co.; v. 90,
p. 631), Beaumont (Beaumont Gas Light Co.: V, 85, p. 223), Waterloo
(Citizens’ Gas 8s Electric Co.; V. 90, p. 305), Shreveport
(Shreveport Gas
El. Lt & Power Co.; V. 90, p. 703), Seattle (Seattle Lighting Co.; V.
90,
p. 56, 918), Ottumwa (Ottumwa Gas Light, Heat & Power Co.; common
stock $100,000, pref. stock $100,000, bonds $100,000 1st M.
gold 5s due
July 1919), &c. [At last accounts the Dawes Interests also controlled
and operated the following:
Heat. Light & Power Co. of Muncle, Ind. (V.
91. p. 338); Pulaski Gas Light Co. of Little Rock, Ark. (V. 86, P. 1534);
Austin (Tex.) Gas Light Co. (V. 91, p. 338).
They are also Identified with
the Kokomo (Ind.) Gas Co., Jackson County (Mo.) Light, Heat &
Power
Co. of Independence, Mo., El Paso Gas & Electric Co. and Western Gas
Improvement Co. (V. 91, p. 658). Control of the Northern Indiana Gas
8b Electric Co. was sold In June 1910 to the United Gas
Improvement Co.
V. 90, p. 1682.—Ed.].
Eaminas.—Yearsending
Dec. 31 ’08. Dec. 31 *09. June 30*10.
Gross earnings.
$146,267
$200,263
$232,224
Net earnings (after oper. expenses)
44,438
50,613
59,652
Compare V. 81, p. 512; V. 83, p. 1596.
Torrington Go.—Report.—For
Fiscal
Total
year
ending Sept. 1:
Bond
Dividends
Other
Investinterest.
paid,
payments, meats.
Balance,
receipts,
surp.
*$363,737 $50,000
$230,000
$10,561
$51,904 $21,272
293,246
50,000
230,000
10,161
3,085
*
Receipts In 1909-10 include $20,000 from Excelsior Needle Co. dividend
to be declared.
The cash balance on hand Sept. 1 1910 was $151,035.—V. 90, p. 378.
Year—
1909-10
1908-09
Union Steel Oo.—Underlying Bonds Called.—See Sharon
Steel Co. above.—V. 83, p. 912.
United States Finishing Oo.—Earnings.—The net earnings
for 12 months ending June 30 1910 were
$754,002, and
compare with $863,918 21 for the year ending June 30 1909.
The directors on Sent. 15 declared dividend No. 45 of l%% on the
$3,000,000 pref. stock; also dividend No. 7 o fl% on the $3,000,000 com¬
mon stock, both payable Oct. 1 1910 to holders of record
Sept. 20.—V. 90,
p. 788.
United States Steel Corporation.—Unfilled Orders.—The
monthly statement (No. 2), issued Sept. 10, showed orders
on hand Aug. 31 of
3,537,128 tons, or 433,803 tons less than
on July 31, and the smallest since
Sept. 30 1908, the latter
date and June 30 1908 being the only times in the last
depression when the total was reported less than now.
Sharon Steel Oo.—Bonds Called.—The
company has called
for payment at par the entire
outstanding issue of $181,000
5% bonds dated Oct. 1 1900. Payment will be made at
the Union Trust Co., Pittsburgh.—V.
76, p. 106.
Tonnage of Unfilled Orders (00,000 omitted).—Compare V. 91, p. 271, 280.
Shawinigan Water & Power Co., Montreal.—New Stock.—
Dividend Increase Proposed.—A circular
signed by President
1910
1909
1908
’07. *06. *08. '04. *03. *02.
Aug. July. J’ne. Mch Dec. Sep. J'ne. Mch. Sep. Mch Sep. Dec. Dec. Dec. Dec. Dec.
3,5
3,9 4.2 5,4 5,9 4,7 4,0 3.5 3,4 3,7 6.4 9.4 7.9 4,9 3,2 5,3
The directors have authorized an additional Issue of
$500,000 of common
stock, which Is offered to the shareholders at the price of $100
per share,
to cover extensions and for the purpose of
capitalizing obligations Incurred
for the acquisition of shares In affiliated companies.
Shareholders of record
at the close of business on Sept. 28 will be entitled to
subscribe for tbe new
stock on the basis of 1 share for each 14 shares of their
registered holdings.
In this connection I am authorized to state that it Is the
Intention of the
drectors to put the common stock on a 5% basis from Jan. 1 1911.
on
J. E. Aldred says in substance:
Earnings.—For the
Jan.
Feb.
seven
months ended
July 31:
Mch.
Apr.
May.
June. July.
Total.
$
$
$
$
$
$
$
$
1910
68.335 68,522 68,197 68,852 69,225 70,000 72,120 485,751
1909
58,853 58,917 59,031 59,260 60,140 60,474 60,510
417,185
Compare V. 91. p. 157: V. 90, p. 695, 1558.
...
Siegel Stores Corporation.—Consolidation of Subsidiaries.
—An agreement of consolidation of the
Simpson Securities
Co. with the Simpson-Crawford Co. under the name of the
latter was filed in the office of the
Secretary of State at
Albany, N. Y.,
$1,400,000.
on
June 4.
Capital stock of
new
company,
The purpose of the step Is merely to do
away with an
hold¬
ing company, the Simpson Securities Co. having held the unnecessary
stock of the Simp¬
son-Crawford Co.
Practically all of the stock of the latter Is now held di¬
rectly by the Siegel-Stores Corporation.—V. 90, p. 714.*
The “Iron Age” of
the market, says:
New York for Sept. 15, commenting
In the main new business in finished steel Is better than In August.
Since the operation of steel works is being adjusted closely to demand and
the latter Is almost wholly from band to mouth, production shows a
gradual
shrinkage. The Steel Corporation’s announcement of 433,000 tons reduc¬
tion In unfilled orders in August Is to be Interpreted In the light of this
fact, though of course the figures furnish no gauge of the rate of shipments
or the rate of new bookings last month.
Tbe various steel companies are
operating at from 6a to 80% of- their capacity and taking new business at,
say. 50% of capacity, but the new bookings are more dependable than the
usual run of contract business.
The United States Steel Corporation Is operating 67% of Its blast furnace
capacity, 45 furnaces being now idle, against 42 Sept. 1. 39 Aug. 1, 35
July 1 and 31 June 1. The American Sheet & Tin Plate Qo. continues to
operate Its sheet mills to about 81% of capacity.
Steel billets and sheet bars are weak, and on the former buyers are able
to get concessions from $24 50, Pittsburgh makers’ mill.
The wire trade
apparently leads in activity. Competition Is sharper on some of the heavier
products, cuts of $1 a ton being made on narrow and medium width plates.
Sept. 14
Comparison of Prices, per Gross Ton. 1910.
Foundry pig No. 2. standard. Phlla...$16 00
Bessemer billets, Pittsburgh
24 50
Open-hearth billets, Philadelphia
27 00
wire rods, Pittsburgh
28 00
Steel rails, heavy, at mill
28 00
Sept. 7
1910.
$16 00
24
27
28
28
50
00
00
00
Aug. 10
1910.
$16 00
Sept. 15
24 60
27 50
28 00
28 00
25 00
27 50
31 50
28 00
1909.
$1800
Capacity of Subsidiary Company at Gary.—A pamphlet
South Porto Bico Sugar Co., New York.—Extra Dividend.
—This company, which on Jan. 3 1910
issued during August by the Indiana Steel Co. (in connection
with the visit of the Lake Superior
Mining Institute) gives
the following estimate of the output
capacity of
the common stock an
the regular quarterly distribution of
1% on that issue and
2% on the pref. on Oct. 1, to holders of record Sept. 20.
Pig Iron (blast furnace No. 8
Open-hearth Ingots
dividend of 1% on its
paid a first quarterly
common stock, has now declared on
extra dividend of
2%, payable with
Checks will be mailed by Muller, Schall & Co. of
N. Y. City. There art
listed on the N. Y. Stock Exchange
$3,271,000 common and $3,496,500
pref. F. A. Dillingham Is Secretary.—V. 89, p. 1546.
now
Stanislaus Consolidated Water & Power Co.—Sold.—This
property, acquired several years ago by C. T. Tullock of
Oakdale, Cal., after foreclosure, it is understood, of mort¬
gage made to the California Safe Deposit & Trust Co., was
reported some time ago as sold to the Oakdale Irrigation Co.
—V. 74, p. 1312.
Swift &
Co.—Reported Bond Issue Pronounced Premature.
—Rumors are again current that the
company proposes,
when market conditions are favorable, to float a new bond
issue of possibly $20,000,000 or $25,000,000 to
provide for
the refunding of its $5,000,000
outstanding bonds and the
obligations of its controlled companies.—V. 90, p. 165.
the plant at
Gary, including the mills approaching completion (in tons):
was
completed last spring)
1,200,000
2,700,000
Standard steel rails (mills In operation 1 H years)
.1,200,000
Blooms and billets (mills In operation 1 H years)
1,200,000
Merchant steel bars (lncl. 2 mills completed last winter and 3
smaller mills approaching completion)
600,000
Plates (tbe universal plate mill Is approaching
completion)
240.000
Car axles (plant completed and started In
August 1910)
100.000
Coke (the 560 coke ovens are nearly completed)
1,650,000
See also elaborate articles
respecting the Gary plants In recent issues ot
the “Iron Trade Review’’ of Cleveland and the “Iron Age” of New York.
The present population of Gary Is estimated at 20,000 and Individual Invest¬
ments In business buildings are said to have aggregated $1,500,000 and
for
residences $1,000,000.—V. 91, p. 522, 407.
Welsbach
Fiscal
Year—
Company.—Report.—For
Gross
Income.
1909-10
$687,775
1908-09
642,883
1907-08
588,132
—V. 90, p. 1683.
For other investment
Depreciation.
year
ending April 30:
Deductions
Bond
Sinking
Interest.
Fund.
$59,564
$328,800
$105,360
58,277
40,173
326,605
326.300
105,360
news
items
see page
105,360
731.
Div.
Balance,
(2%). Surplus.
$70,000 $124,051
70,000
82,641
46,299
70,000
THE CHRONICLE
m
[VOL.
LXXXXI.
IjjUperts and JJncmtmiis,
NORFOLK & WESTERN RAILWAY COMPANY.
FOURTEENTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDING JUNE 30 1910.
To the Stockholders
Your Board of Directors submits the following report
the operations for the fiscal year ending June 30 1910:
Amount carried to Profit and Loss for the year
Amount to credit of Profit and Loss June 30 1909
of
MILES OF ROAD OPERATED.
The length of line owned at the close of the fiscal year was
1,937.30 miles. Total operated was 1,951.28 miles.
Branches, Main Line,
Miles.
Miles.
Lambert's Point, Norfolk, Va.. to Columbus, Ohio
195.02
Lynchburg Belt Line, Phoebe, Va., to Forest, Va
24.36
Naugatuck, W. Va., to
Big Sandy Low-Grade Line,
Kenova, W. Va
59.16
3.48
6.05
.20
14.31
49.56
22.97
18.92
Lynchburg, Va., to Durham, N. C
Roanoke, Va., to Hagerstown, Md
Roanoke, Va., to Winston-Salem, N. C
•—
Walton Junction, Va., to Bristol, Va
North Carolina Junction, Va., to Fries, Va
Graham, Va., to Norton, Va—
Vera Junction, O., to Cincinnati and Ivorydale, O—
Columbus Connecting & Terminal Railroad
.—
394.63
703.76
115.43
238.11
121.30
110.75
43.49
100.40
105.92
3.51
1,542.67
1,937.30
Total lines owned.
Tracks of other
Companies used jointly under trackage
cinnati, 0._
Baltimore & Ohio and Pittsburgh Cincinnati Chicago &
St. Louis Ry., at
Grand total
Columbus, O
30
-
Miles.
10.44
2.09
82.67
12.15
4.42
59.62
33.50
37.40
47.17
4.40
19.24
13.21
22.59
Lynchburg, Va.—East and West of
Forest, Va., to Walton, Va
Walton, Va., to Ripplemead, Va. (Sections).
Walton, Va., to Radford, Va
Pearlsburg, Va., to Vivian, W. Va
Huger, W. Va., to Wyoming, W. Va
Devon, W. Va., to Naugatuck, W. Va
North Kenova, O., to East of Lucasvllle, O.
East of Plketon, O., to Eafct of Glen Jean, O
Waverly. O., to West of Renlck, O
Delano. O., to Gregg, O
East of Cromley. O., to Columbus, O
Total second track
348.90
Sidings
996.39
The increase in mileage during
Branches
Second track
1
the year was as follows—
34.06
74.48
64.89
Sidings
mileage operated during the year was ] ,945,
against 1,925 miles during the preceding year.
The average
GENERAL INCOME ACCOUNT.
ending June 30 1910 and Comparison with Previous Year.
Increase (+) or
Decrease (—).
1910.
1909.
.$30,037,796 22 $24,710,591 12 +$5,327,205 10
3,924,889 67
3,642,837 04
+282,052 63
Operating Revenues—
From freight
“
“
passengers
mall
express
338,449 10
461,655 25
301,080 18
miscellaneous
Total operating revenues$35,063,870 42
Operating Expenses—
Malnt.of way & structures. $3,752,045 16
Maintenance of equipment
5,951,907 15
Traffic expenses
551,806 15
Conducting transportation 10,069,726 22
General expenses
721,275 01
Total operating
*
294,452 54
+43,996 56
426,047 36
+35,607 89
253,173 60
+47,906 58
$29,327,101 66 +$5,736,768 76
$3,331,888
4,919,434
487,106
8,346,991
644,335
47
74
05
94
23
+$420,156 69
+1,032,472 41
+64,700 10
+1,722,734 28
+76,939 78
expenses$21,046,759 69 $17,729,756 43 +$3,317,003 26
Net operating revenue....$14,017,110
To which add—
Interest, general account..
Rents.
Hire of equipment
73 $11,597,345 23
$534,121 23
$459,474 57
54,373 03
+2,773 82
554,938 54
467,264 63
+87,673 91
57,146 85
..
+$2,419,765 50
+$74,646 66
+ $165,094 39
$1,146,206 62
$981,112 23
$15,163,317 35 $12,578,457 46 + $2,584,859 89
Total income
From which deduct—
Interest on funded debt
$4,179,530 00
Interest on equipment trust
obligations
Interest on 2-year 5% col¬
lateral gold notes
Rents of tracks", yards, ter¬
minals & other property
Miscellaneous
.
Deduct
expenditures toi
maintain earning power
Balance
$3,985,520 00
+$194,010 00
395,555 56
378,666 66
+16,888 90
206,154 37
1,118,964 59
379,045 63
1,008,800 00
—172,891 26
+ 110,164 59
122,237 96
97,709 72
152,816 96
8,175 33
—30,579 00
+89,534 39
$6,120,152 20
$5,913,024 58
+$207,127 62
$9,043,165 15
$6,665,432 88
+$2,377,732 27
3,573,598 32
1,730,580 35
+ 1,843,017 97
$5,469,560 83
$4,934,852 53
+$534,714 30
$5,469,566 83
.
From this balance for the year ending June 30 1910
The following amounts have been deducted—
Payments to Pocahontas Coal & Coke Co. on
account of deficiency of sinking fund and In¬
terest on Norfolk & Western-Pocahontas
Common
StdCk, 5%.—
$138,000 00
Capital Stock—
Adjustment.Preferred Stock, 4%
.
joint bonds
■Cash dividends oh
$5,616,410 72
securities sold—balance
41,878 08
$5,574,532 64
June 30 1910
comparative table of
average
Total operating revenues per mile of road
Net operating revenue per mile of road
Ratio of expenses to operating revenues
Ratio of taxes to operating revenues
results:
1909-10.
1908-09.
$18,028
7,207
60.02%
3.19%
$15,168
5,967
60.72%
3.46%
CAPITAL STOCK.
The authorized capital stock of the Company is $100,000,000 common stock and $23,000,000 adjustment preferred
stock.
The outstanding capital stock at the close of the
fiscal year consisted of—
688,960 shares of common stock
230,000 shares of adjustment preferred stock
$68,896,000
23,000,000
Total
$91,896,000
of which there
in the
treasury $8,300 of adjustment
The increase in the outstanding common
was
1,951.28
operated
For the Year
a
4,499,354 39
4% gold bonds surrendered for conversion.
A favorable opportunity having arisen in December 1909,
the Company sold at a price slightly above par the 15,308
shares of its common stock held in the treasury since 1897.
9>00
Second track—
Lambert’s Point, Va., to Gllmerton, Va
“
Following is
$1,117,056 33
stock was caused by the issue of 28,960 shares in exchange
for $2,896,000 of the Company’s Convertible 10-25-year
8.62
Pittsburgh Cincinnati Chicago & St. Louis Ry. at Cin¬
on
Balance to credit of Profit and Loss
preferred stock.
Miles.
.43
-63
rights—
Southern Railway, at Durham, N. C
Cumberland Valley RR., at Hagerstown, Md
Cincinnati Lebanon & Northern Ry.t Cincinnati, O
“
Total
Discount, commission and premium
394i63
Branches
as
■
Philadelphia, September 8 1910.
of the Norfolk & Western Railway Co.:
99
3,294,842 50
4,352,510 50
FUNDED DEBT.
The
aggregate funded debt outstanding June 30 1910,
compared with that of the previous year, was as follows:
June 30 1910.
Mortgage bonds
Plain bonds, debentures and notes
Equipment trust obligations
There
were
in the
June 30 1909
$83,283,500
22,673,000
9,900,000
$83,283,500
20,962,000
11,900,000
$115,856,500
$116,145,500
Company’s treasury $13,000 of First
Consolidated Mortgage 4% bonds.
The stockholders of the Company were given
to subscribe at par between April 13 and April
the privilege
18 1910, in¬
clusive, for an amount of the Convertible 10-25-year 4%
gold bonds authorized in October 1906 equal to 12% of
their respective holdings of stock of the Company, as regis¬
tered on its books at the close of business March 24 1910.
The amount of bonds, $10,993,000, so offered to the stock¬
holders
was
largely taken by them, and the small remainder
sold.
Of the $34,000,000 of Convertible bonds authorized by
the stockholders at their meeting on Oct. 11 1906, there
had been issued and sold to June 30 1910 the sum of $25,569,000.
Of these, $2,896,000 were surrendered and converted
into common stock, leaving a net issue of $22,673,000, of
which $98,000 wrere in the Company’s treasury awaiting the
surrender of a like amount of full-paid subscription receipts.
The unissued remainder of these bonds is $8,431,000.
Of the $7,500,000 of 5% 2-year Collateral Gold Notes
issued under the trust agreement qf May 1 1908, and ma¬
turing May 1 1910, the sum of $1,114,000 had been purchased
to June 30 1909.
Additional notes aggregating $2,754,000
were purchased before maturity and paid out of the cash
fund deposited with the Trustee in January 1909.
Of the re¬
maining $3,632,000 all but $1,000 were presented and paid
to June 30 1910.
The
changes in the Funded Debt
are
recapitulated below:
Two-year collateral notes paid
Convertible bonds converted into common stock
Equipment trust obligations paid
$6,386,000
2,896,000
2,000,000
$11,282,000
10,993,000
Convertible 10-25ryear 4% bonds Issued—additional
Net decrease of
funded debt
L__
$289,000
ROAD AND EQUIPMENT EXPENDITURES.
The expenditures for road and equipment summarized
below aggregated $13,184,434 78, all of which, in accordance
with the order of the Inter-State Commerce Commission,
has been charged to your Company's Property Investment
accounts.
Of this sum $2,573,598 32
tures which,, in the judgment of your
consists of expendi¬
Board of Directors,
were required to offset obsolescence and depreciation, due
to changing conditions, and were necessary to maintain
the earning capacity and preserve the value of the Company’s
property, and, therefore, should not be capitalized. The
payment of $3,573,598 32 from income, therefore, includes
that amount and also for the same reason one-half, i. e.,
$1,000,000, of the principal of Equipment Trust obligations
paid during the year. The resulting net property invest¬
ment for the year was $10,610,836 46.
r.i 0
Sept.
111910.)
THE CHRONICLE
Net Property
Investment.
Branches and extensions
Right of way and station
grounds
Payable from
Income.
253,797 41
_
Protection of banks
Grade revision and changes
of line
Tunnel Improvements
Bridges, trestles and
Total.
$3,299,643 21
$3,299,643 21
$166,202 23
8,833 91
35,228 87
419,999 64
30,165 22
13,514 07
35,856 89
13,514 07
87,413 75
48,776 67
1,226 91
87,413 75
48,776 67
1,226 91
5,691 67
8,833 91
35,228 87
cul¬
verts
Increased
weight of rail
Improved frogs and switches
Track fastenings and other
material
Additional main tracks
Sidings and spur tracks
Terminal yards
1,557,459 24
167,467 08
486,552 62
Track elevation, elimination
of grade crossings, &c
-
Interlocking apparatus
-
16,574
1,184,905
21,376
27,627
23,690
Cr. 5 40
Telegraph and telephone lines
buildings and fixtures
Shops, engine houses and
Station
100,772 05
turntables
65,388 98
Shop machinery and tools..
Water and fuel stations
Grain elevators and storage
22,893 29
warehouses
Dock and wharf property.
Miscellaneous structures
Reconstruction of roads pur¬
chased
5,093 66
302 03
15,250 41
_
Equipment
16,574
2,742,364
192,279
510,743
23,690
2,870 11
37,736 30
455,427 07
89,809 10
39,405 04
455,421 67
89,809 10
140,177 09
13,082 78
148,199 05
101,740 14
78,471 76
148.199 05
124,633 43
5,093 66
302 03
19,793 01
35,043 42
Cr. 10,859 85
Cr. 10,859 85
4,641,390 06
4,641,390 06
$10,610,836 46
$2,573,598 32 $13,184,434 78
.$10,610,836 46
$3,573,598 32 $14,184,434 78
Add Principal of Equipment
Trust obligations.
Total
68
42
82
94
17
2,870 11
37,736 30
-
—
Block and other signal ap¬
paratus
68
18
48
58
17
1,000,000 00
1,000,000 00
penditures is set up in the general balance sheet as a credit
“Appropriated Surplus” for “Additions to Property since
June 30 1907, through Income.”
Comment upon this is
of
made under the head of “General Remarks" in
this report.
or
“
“
“
“
“
“
“
“
Total
136 00
30 00
The Betterment Fund and the Equipment Replacement
account, the transactions of which have heretofore been
stated in annual reports, have been discontinued as a result
changes in accounting methods ordered by the Inter-State
Commerce Commission.
An explanatory recapitulation of
such transactions since June 30 1907 is desirable.
Betterment Fund.—Betterments and extraordinary renew¬
als and
replacements since June 30 1907, paid for out of
income, have all been charged to Property Investment ac¬
counts and the income applied to the
payment of such ex¬
229,955 10
342,572 04
319,860 10
,
Excess of replacement credits for equipment
destroyed, sold
and retired over the direct
charges thereto, for new equlp't
$661,583 39 '
This excess, which includes the $222,673 23
reported as
the balance in Equipment
Replacement account June 30
1909 has been credited to
Property Investment in equip¬
ment, and has decreased to that extent the book value of the
Company's equipment.
(2) Equipment Depreciation: Under existing rules, the
gross depreciation credit accumulated by means of charges
to operating expenses and other accounts from June 30
1907
on
equipment in existence at the date of this report is set up
in the general ledger as a
separate liability account, but on
the face of the general balance sheet this credit is shown as a
deduction from the grand total of Road and
Equipment
account.
The amount is made up as follows:
Credited In year
“
“
“
“
ending June 30 1908
*
“
“
“
“
$783,634 14
1,153,859 60
1,195.039 79
1909
1910
Total
.....
151,134 94
$154,084 32
$291,318 70
$1,183,705 94
Specific expenditures for new equipment acquired
In replacement: Year ending June 30 1908.
$176,111 40
Year ending June 30 1909
346,011 15
522,122 55
$2,783 38
account Barker & Clarks Gap RR
account Clear Fork & Oceana RR
Big Stony Railway
of
Equipment Replacements.—(1) Equipment Destroyed, Sold
Retired;
Credit balance In Equipment Renewal Fund, June 30 1907
Further Credits for equipment destroyed, sold and
retired. In¬
cluding salvage: Year ending June 30 1908
Year ending June 30 1909
Year ending June 30 1910
Advances for construction purposes were made as foliows:
Guyandot & Tug River Railroad
733
$8,132.533 53
EQUIPMENT TRUST CERTIFICATES.
r
.
No additional Equipment Trusts have been created.
tured Equipment Trust principal to the amount of
Ma¬
$2,000,000
(including $100,000 each of Series “L," “M," “N," and “O")
was paid during the
year.
In October 1909 Equipment Trust Certificates in the treas¬
ury aggregating $2,800,000 ($700,000 each of Series “L,"
“M,” “N," and “O”) maturing after June 30 1910 were sold.
At the close of the fiscal year the
aggregate of the unmatured
certificates was $9,900,000.
The statement on the following pages shows the details of
all the Company's Equipment Trusts:
STATEMENT OF EQUIPMENT TRUST CERTIFICATES JUNE 30 1910
1Date of Agreement—
Series.
Total Value of
Equipment.
Certificates “
Total Certificates Paid to
June 30 1910.
June 30 1910.
$500,000
$2,500,000
$1,000,000
100,000
100,000
200,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
600,000
600,000
1,000,000
400,000
400,000
400,000
400,000
400,000
400,000
300,000
300,000
300,000
300,000
300,000
Sept.
400,000
400,000
Jan.
Mch.
1,000,000
600,000
600,000
600,000
Apr.
$2,000,000
$8,600,000
Paid During
Fiscal Year.
Certificates
Outstanding
Payable in Fiscal Year ending
Maturity.
March
April
June
April
Nov.
Dec.
Feb.
May
June
July
Aug.
Dec.
March
April
June
1 1902
1 1903
1 1903
3 1905
3 1905
4 1905
3 1906
3 1906
5 1906
5 1906
3 1906_
3 1906
4 1907
4 1907
4 1907
1902
A.
B.
C.
;
$5,000,478 00
1.234,499
1,176,085
2,024,082
1,023,407
1,027,055
1,053,661
1,024,415
1,033,131
1,043,295
1,037,567
1,027,914
1,048,739
1,047,075
1,052,856
D.
E.
F.
G.
H.
J.
K.
L.
M.
N.
O.
__
,
Totals.
31
50
92
00
40
32
20
72
43
02
35
56
00
10
$20,854,263 83
600,000
600,000
600,000
700,000
700,000
700,000
700,000
700,000
Maturity of
June 30 1911.
Nov.
Dec.
Feb.
May
June
July
Aug
Dec.
Mch.
Apr.
June
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Final
Installment.
Amount.
1910
1911
1911
1911
1910
1910
1911
1911
1911
$500,000
100,000
100,000
200,000
100,000
100,000
100,000
100,000
100,000
100,000
1911
1910
1910
1911
1911
1911
Sept. 1 1911
Jan: 1 1913
Mch. 1 1913
Apr. 1 1915
Nov. 1 1915
Dec. 1 1915
Feb. 1 1916
May 1 1916
June
-
100 000
A
iooIooo
loo.ooo
100,000
;
$2,000,000
Dec.
Mch.
June
BRANCHES AND EXTENSIONS.
a
1Q1R
1 1917
-
61 AND 62 PAMPHLET.)
secured for the Beech Creek Branch,
junction with Dry Fork Branch to its junction with
Indian Creek Branch at the
Virginia State line, 1.56 miles
Right-of-way has been secured for the Indian Creek Branch
from its junction with Beech Creek Branch at
the West Vir¬
ginia State line to Cedar Bluff, Va., on the Clinch
Valley
District, 12.22 miles, and “Y” connection 0.37 miles at
Cedar Bluff.
Of this line, 3.22 miles at Summit Tunnel is
from its
This line, 8.91 miles in
length and connection tracks ag¬
gregating 1.69 miles, is under construction from Poe to a
point west of Addison on the main line, running around and
to the south of the city
of Petersburg, Va. It is an important
feature of a comprehensive
plan of improvement of the com¬
pany's facilities in and near that city, and will greatly benefit
local
It will form
1 1916
1 1916
1 1917
Right-of-way has been
PETERSBURG BELT LINE.
industries.
EQUIPMENT TRUSTS, SEE PAGES 60,
1 1916
1
1
-
(DESCRIPTION OF EQUIPMENT FORMING SECURITY UNDER
nflP
Apr. 1 1917
100,000
$9,900,000
July
second track between the
points named, and will furnish a low-grade line for through
traffic and for interchange of business with the Atlantic
Coast Line Railroad and the Seaboard Air Line
Railway,
avoiding the heavier grades and curvatures of the old line
through Petersburg and the congestions incident thereto.
Its maximum grades will be
0.2% eastbound and 0.4%
westbound, and its maximum curvature 1.5 degrees. Good
progress is being made and it is expected that the roadbed
will be completed in December 1910 and the
line in opera¬
tion early in 1911.
ALLISONIA BRANCH.
under construction.
The Dry Fork Branch and connections will form
a con¬
tinuous line from Iaeger, on your
Company’s
main line, to
Cedar Bluff, on the Clinch
Valley District, and will give a
western outlet to the coal lands on the Clinch
TUG
Valley District.
FORK BRANCH.
’
■
Right-of-way for the North Fork Branch of Tug Fork
Branch from Jeannette, W. Va.,
4.31 miles, with a branch
0.87 miles to
for.
projected coal operations, has been arranged
LYNCHBURG BELT LINE.V „•••'
% :
This low-grade line from
Phoebe, Va., to Forest, Va.,
24.36 miles, and sidings 7.68
miles, forming a second track
between those points, has been
This branch, 0.6 miles in
length, to an iron-ore tipple on
acquired from the Lynch¬
Big Reed Island Creek, near Allisonia, Va., has been com¬ burg Belt Line &
Connecting Railway Company, as herein¬
pleted.
after recited.
DRY FORK
BLACKSTONE BRANCH.
BRANCH AND CONNECTIONS.
Right-of-way has been secrued for extending
Fork Branch 1.72 miles from the
present end of
the Dry
track at
Canebrake, W. Va.,- to the initial point of Beech Creek
Branch below the mouth of Beech
Creek, and 0.8 miles is
under construction to operation No. 4 of the New RiverPocahontas Consolidated Coal Co.
Track will be completed
on this portion in October 1910.
•
This branch southward from
Blackstone, Va., 5.52 miles,
and
sidings, 0.41 miles, has beep acquired from the Black¬
& Lunenburg Railroad
Company, as hereinafter re¬
stone
cited.
■
■'
:
"
■
WESTERN BRANCH.
#
v;
This branch westward from Pocahontas,
Va., 3.29 miles,
and sidings 2.31 miles, has been acquired from the Pocahon¬
tas & Western Railroad
Company, as hereinafter recited.
-
THE CHRONICLE
724:
COMPANIES IN WHICH NORFOLK & WESTERN
RAILWAY COMPANY HAS AN INTEREST.
The
POCAHONTAS COAL & COKE COMPANY.
paid to the
bonds aggregating
$232,000 were purchased and canceled; the amount of out¬
standing bonds of the Pocahontas Coal & Coke Company
under the said mortgage being thus reduced to $19,070,000.
Through this and other
782 steel
of
this
line
from
Winston-Salem to
Wadesboro, North Carolina, through Forsyth, Davidson,
Montgomery, Stanley and Anson counties, a distance of
about 88 miles, has progressed satisfactorily.
On June 30
1910 the grading was 83% and masonry 78% completed;
75 miles of the roadbed were finished and 18 miles of main
track were laid.
It is expected that the main track will be
completed in November 1910.
The Winston-Salem Southbound Railway
executed a mortgage dated May 3 1910 to the
Company has
United States
Trust Company of New York, as Trustee, to secure an issue
of $5,000,000 of first mortgage 50-year 4% gold bonds, the
payment of the principal and interest of which will be guar¬
anteed
jointly and severally by
your
Company and the At¬
lantic Coast Line Railroad Company, who are equal owners
of all the capital stock of the Winston-Salem Southbound
Railway Company except the eight shares held by individ¬
The proceeds of
part of these bonds will be used to pay the interest-bearing
certificates of indebtedness issued to your Company and the
Atlantic Coast Line Railroad Company for advances made
by them in equal amounts. The total of such interest-bear¬
ing certificates of indebtedness in your Company’s treasury
on June 30 1910, representing advances made and interest
thereon, was $972,770 83.
uals to qualify them to serve as Directors.
BIG STONY RAILWAY AND CONNECTIONS.
The railroad, property and franchises of the Interior &
West Virginia Railroad Company, including 17.53 miles of
main track and 0.37 miles of sidings, and the railroad, prop¬
erty and franchises of the Virginia & Potts Creek Railroad
Company, including 4.15 miles of main track and 0.32 miles
of sidings, were respectively conveyed by deeds dated June
21 1910 to the Big Stony Railway Company.
On June 30
1910 the latter Company had 38.33 miles of main track and
1.59 miles of
sidings.
Combined stations and living quarters for agents, standard
section foremen’s houses and 50,000-gallon water tanks have
been erected at Waiteville and Paint Bank and a coaling
station at Waiteville.
It is considered advisable that your
the railroad, property and franchises
Company shall acquire
of the Big Stony Rail¬
way Company, which it now controls by ownership of its
entire capital stock with the exception of qualifying shares
held by Directors.
For this purpose a resolution, giving the
necessary authority, will be submitted for your action at
the annual meeting.
GUYANDOT & TUG RIVER RAILROAD AND CONNECTIONS.
Further
progress
has been made in securing right-of-way.
acquired during the
year:
drop-bottom gondolas, 100,000 pounds capacity,
100 cabin cars,
25 side-dump cars,
2 steam derrick cars,
sums
WINSTON-SALEM SOUTHBOUND RAILWAY.
construction
was
1,512 steel hopper coal cars, 115,000 pounds capacity,
Trustee under the terms of the mortgage,
The
following equipment
16
lxxxxi.
passenger locomotives,
10 freight locomotives,
1 cafe car,
500 box cars, 80,000 pounds capacity,
1,000 stock cars, 80,000 pounds capacity,
The sinking fund provided for in the Pocahontas Coal &
Coke Company’s Purchase Money First Mortgage, dated
December 2 1901, amounted in the calendar year 1909 to
$204,676 59.
[Woh
1 spreader car,
1 locomotive crane.
Of the new
equipment, 893 steel hopper coal cars and 10©
cabin cars were built at your Roanoke shops.
The total equipment owned and leased June 30 1910 con¬
sisted of:
118 passenger locomotives,
pa
799
51
freight locomotives,
switching locomotives,
38,418 freight cars.
1,049 work equipment cars,
10 barges.
968 locomotives.
There were in the shops undergoing and awaiting
the close of the year 146 locomotives, or 15.1%
ing only light repairs), 21 passenger
freight and work cars, or 3.9%.
cars, or
repairs at
(82 need¬
5 3%, and 1,538
MAINTENANCE OF WAY AND STRUCTURES.
The
cost of Maintenance of Way and Structures was
$3,752,045 16, or about $1,929 per mile of road, as compared
with $1,731 per mile of road for the preceding year.
75.87 miles of main track were laid with 85-pound steel
rails.
17.00 miles of Durham District
were
laid with re-sawed
75-pound rail.
7.02 miles of Clinch
Valley District
were
laid with re-sawed
85-pound rail.
19.00 miles of track were fully ballasted.
Additions have been made to division yards at Williamson,
East Portsmouth and Columbus, including an entirely new
eastbound yard at East Portsmouth.
Passenger stations and freight depots were built or en¬
larged at Suffolk, Petersburg, Antietam, Shepherdstown,
Rileyville, Stanley, Buchanan, Starkey, Koehler, Ridge¬
way, Shawsville, Bluefield, Cleveland, St. Paul and Devon.
Standard 50,000-gallon tanks were erected at Lambert’s
Point, White Post, Vivian, Mohawk, Naugatuck and Coal
Grove, and two each at Shenandoah Junction and Dorney.
Steel tanks of 400,000 gallons capacity were erected just east
of North Fork and at East Portsmouth.
A steel tank of
200,000 gallons capacity was erected at Dorney.
The dam at Mud Fork was enlarged to increase the storage
capacity of water for the Bluestone pumping plant from
28,000,000 to 130,000,000 gallons.
The water-pipe line was extended from North Fork to
Vivian to secure water supply from Bluestone pumping plant.
Pumping plants were installed at Shenandoah Junction,
Mohawk and Dorney.
A water-filter plant was constructed at Farmville.
A water-softening plant was installed at Dorney and the
plant at Walton was enlarged.
Interlocking and signal apparatus
view,
was
installed at Mont-
Christiansburg, Lurich, Huger and Welch.
Auto¬
matic signals were installed between Forest and Thaxton;
between Thaxton and Montvale on westbound track; be¬
tween Elliston and East Radford; between Walton and
Pepper; between Pearisburg and Bluefield; between Wilmore
Wyoming; between Devon and Williamson; between
Pursuant to authority given by Act of the General Assem¬ Williamson and
Naugatuck; between K*iova and Davis;
bly of Virginia Feb. 17 1900, the railroad, property and and on two miles at Williamsburg, Ohio. Interlocking
franchises of the Blackstone & Lunenburg Railroad Company
plants were improved at Arthur and Blake.
were, by deed dated April 25 1910, conveyed to your Com¬
105 lineal feet of light iron bridges were replaced by railpany, and the railroad is now being operated as the Black¬ top culvert and fill.
stone Branch.
The total cost of this property to your Com¬
615 lineal feet of wooden bridges and 2,351 lineal feet of
pany at the date named was $61,004 15.
light iron bridges were replaced by new standard steel struc¬
,
BLACKSTONE & LUNENBURG RAILROAD.
and
LYNCHBURG BELT LINE & CONNECTING RAILWAY.
Pursuant to authority given at the annual meeting of the
stockholders held Oct. 8 1908, the railroad, property and
franchises of the Lynchburg Belt Line & Connecting Rail¬
way Company were, by deed dated April
to your Company, and the railroad is now
7 1910, conveyed
being operated as
the Lynchburg Belt Line-.
The total cost of this property
to your Company at the date named was $2,543,536 15.
POCAHONTAS & WESTERN RAILROAD.
Pursuant to authority given at the annual meeting of the
stockholders held Oct. 8 1908, the railroad, property and
franchises of the Pocahontas & Western Railroad Company
by deed dated April 29 1910, conveyed to your Com¬
pany, and the railroad is now being operated as the Western
Branch.
The total cost of this property to your Company
were,
at the date named
was
$414,172 15.
a
cost
Roanoke Shops
Bluefield Shops
Williamson Shops
Total
The cost of
approximately
as
follows:
$123,096 Portsmouth Shops
12,412 Outlying Shops
9,855
~
$18,247
7,888
!
$171,498
engine repairs
was
$1,750,009 75,
an
increase
the preceding year of $520,474 48.
The tractive power of locomotives on June 30 1910
over
was
1,305,500 pounds greater than at the close of the preceding
year.
bridges on branch lines have been
replaced by iron bridges released from the main line.
New overhead steel highway bridges were built north of
Roanoke and east of Bluefield.
New 85-foot turntables were put
Petersburg, Crewe and Bluefield.
in at Lambert’s Point,
The main track on the Pulaski District, east of Kent, Va.,
and at Groseclose, Va., was raised above flood level.
The main track on the Cincinnati District between New¬
town and Clare was raised above flood level,
695 lineal feet of Dingess Tunnel was lined
with brick.
602,926 lineal feet (114.20 miles) of standard fencing were
erected.
*
TRAFFIC.
As
MAINTENANCE OF EQUIPMENT.
The standard of your Company’s equipment has been
maintained.
The cost of maintenance was $5,951,907 15,
an increase over the preceding year of $1,032,472
41.
Additions to the machinery at the various shops have been
made at
tures.
662 lineal feet of wooden
compared with the preceding year, the number of pas¬
sengers carried increased 10,573, or 0.2%; the average haul
of passengers increased 1.92 miles.
The total passenger revenue increased $282,052 63, or
7.7%; the average rate per passenger per mile increased
0.041 cents.
Tons of freight carried increased 5,363,326 tons, or 26.8%;
the average haul of freight decreased 3.66 miles.
The total freight revenue increased $5,327,205 10, or
21.6%; the
average
rate per ton per mile decreased 0.013
cents.
The freight train mileage increased 1,853,025 miles, or
21.2%; the average tons per train mile increased 19 tons, or
3.1%.
The coal shipments were 13,999,516 tons, an increase of
3,020,956 tons, or 27.5%.
Sept. 17
THE CHRONICLE
1910.]
The lumber
shipments were 1,674,981 tons, an increase of
9.9%.
shipments of other low-class commodities connected
151,463 tons,
or
The
with the iron and steel industries were as follows:
Coke shipments 2,969,476 tons, an increase
of 708,649
tons, or 31.3%.
Ore
shipments: 1,018,252 tons,
an
increase of 325,764
tons, or 47.0%.
Pig and bloom iron shipments: 716,951 tons, an increase of
or 114.8%.
The following statement gives the passenger and freight
383,189 tons,
statistics for the years 1910 and 1909:
TRAFFIC AND MILEAGE STATISTICS.
1908-1909.
Increase (+) or
Decrease (—).
20,049,203
5,377,020,950
+ 5,363,326
+ 1,345,474,937
2,793,258
+ 663,038
268.19
264.53
from freight.$30,037,796 22 $24,710,591 12
Average revenue per ton of
123.25
jf» freight (cents)
118.20
Average revenue per ton
0.460
per mile (cents)
0.447
Total freight revenue, all
sources
$30,248,146 22 $24,881,320 48
Freight revenue per mile
of road
$15,551 75
$12,925 36
Freight revenue per train
mile (cents)
285.94
285.16
Passenger Traffic—
4.930,108
Passengers carried
4,919,535
Passengers carried one mile
181,068,855
171,270,331
Passengers carried one mile
per mile of road
93,095
88,972
Average distance carried
—3.66
+ $5,327,205 10
Freight Traffic—
Tons of freight carried
1909-1910.
25,412,529
Tons carried one mile
6,722,495,887
Tons carried one mile per
mile of road
3,456,296
Average
distance
ton (miles)
per
Total
carried
revenue
-
per passenger
Total
revenue
36.73
(miles)
34.81
from passen¬
$3,924,889 67 *$3,642,837 04
gers
Average
revenue per pas¬
senger (cents)
79.61
revenue per pas¬
senger per mile (cents)2.168
Total passenger revenue,
—5.05
—0.013
+ $5,366,825 74
+$2,626 39
+ 0.78
+ 10,573
+ 9,798,524
all sources
Passenger
revenue per
Passenger
revenue per
mile (cents)
*
on
+ $282,052 63
$2,475 95
$2,309 50
+ $166 45
train
119.88
118.12
+ 1.76
Includes $129,455 20, collected In the preceding year, as explained
pages 25 and 26 of the 13th Annual Report.
Total Traffic—
Operating revenue
$35,063,870 42 $29,327,101 66 +$5,736,768 76
Operating revenue per mile
of road j
$18,027 70
+ $2,792 84
$15,234 86
Operating revenue per train
Freight
Passenger
$17,707,927
$3,338,831
Total.
$21,046,759
Per mile of road, freight.
$9,104
Per mile of road, passen¬
ger
$1,716
Per mile of road, total..
$10,820
Per train mile, freight
(cents)
167.40
Per train mile, passenger
(cents)
83.11
Per
train
mile, total
(cents)
75 $14,838,663 59
94
$2,891,092 84
69 $17,729,756 43
33
$7,708 39
+$3,317,003 26
+ $1,395 94
$1,501 87
$9,210 26
+ $214 76
+ $1,610 70
63
96
—2.66
76.81
+ 6.30
0.263
141.96
0.276
—0.013
(cents)
1.844
1.688
+0.156
Net operating revenue:
Freight
Passenger
$12,540,218
$1,476,892
..$14,017,110
Per mile of road, freight.
$6,447
Per mile of road, passen¬
Total
ger.
Per mile of road,
Per train mile,
total.
freight
_
(cents)
47 $10,042,656 89
26
$1,554,688 34
73 $11,597,345 23
41
$5,216 97
(cents)
train
mile,
+ $2,497,561 58
—$77,796 08
+$2,419,765 50
+ $1,230 44
$807 63
$6,024 60
118.54
115.10
+ 3.44
36.77
41.31
—4.54
96.04
0.187
92.86
0.187
+ 3.18
0.816
0.908
—0.092
-$48 30
+$1,182 14
total
(cents)
Per ton per mile (cents).
Per passenger per mile
(cents)
Train Mileage—
Revenue trains: freight
Revenue trains: passenger.
Revenue trains: mixed
Revenue trains: special
Non-revenue trains
All trains
;
Locomotive Mileage—
Revenue trains: freight
Revenue trains: passenger.
Revenue trains: mixed.
Revenue trains, special
10,401.187
3,839,804
8,548,948
3,587,179
176,568
4,872
475,845
12,793,367
+ 1,852,239
+ 252,625
+786
+ 1.264
12,401,584
3,754,919
184,092
6,485
2,492,618
536,632
19,376,330
+ 2.737,773
+ 269,209
+3,712,889
North and East
110,918,298
South and West
119,055,094
Mileage of empty freight cars:
North and East
75,552,999
South and West
63.445,985
Mileage of caboose cars:
North and East
5,295.093
South and West
5.152.489
Average number of freight
cars per train mile ex¬
34.88
cluding caboose
Average number of loaded
freight cars per train mile
21.74
Average
number
empty
frelrht cars per train
mil excluding caboose.
13.14
Average number tons freight
635
per train mile
Average number tons freight
29.23
per loaded car mile
98,750,697
98,128,217
+ 12,167,601
+ 20.926.877
60,460,159
63,008,681
+ 15,092,840
+437,804
4,307,422
4,237,093
+ 987,671
+ 915,396
Mileage of passenger cars..
Average number passenger
cars per train mile.
Average number of passen¬
gers per train mile
Mileage of cars In special
21,391.488
19.709,897
+ 1.681,591
5.33
5.24
+ .09
45
46
—1
....
Switching locomotives....
Non-revenue trains
All locomotives
177,354
6,136
775,896
15,200.377
15,139,357
4,024,128
191,574
8,047
2,916,956
809,157
23,089,219
+300,051
+ 2,407,010
v
+7,482
+ 1,562
+424,338
+ 272,525
Car
Mileage—
Mileage of loaded freight
cars:
.
.
.
service
Average mileage operated
it during year
29.35
on your
lines during the
At the close of the year
in
171 coal and coke companies
were
operation.
The number of coke ovens was 13,931, of which 2,151 are
owned by the United States Coal & Coke Company.
There were also in operation 15 iron furnaces, with an esti¬
mated aggregate capacity of 2,090 tons of pig iron per day;
8 furnaces with an aggregate capacity of 960 tons of pig iron
per day were out of blast; a small furnace at Kayoulah (esti¬
mated daily capacity 14 tons) was destroyed by fire. May 1
1910.
The
following sections of double track
are
under construc¬
tion:
Vivian, W. Va., to Huger, W. Va.. including 4 tunnels
Wyoming, W. Va.. to Alnwick, W. Va._
:
—
5.42 miles
3.00
Wnamcllffe, W. Va., to Devon, W. Va., Including second track
on temporary line around future tunnel east of Devon
9.50
Lucasville, O., to Plketon, O
14.20
Glen Jean, -O., to Waverly, O
1.05
Renlck. O., to Delano, O
6.34
Gregg, O., to East of Cromley, O
6.91
“
“
“
*'
“
“
The first of these sections will be completed in the summer
of 1911, the next two early in 1911 and the four sections in
Ohio about January 1911.
The line will then be doubletracked from the West Virginia coal fields to Columbus, O.,
with the exception of 4.6 miles of single track and gauntlet
track in West Virginia.
From the commencement of its
to June 30
operations, Oct. 1 1896,
1910, your company has expended for acquiring
constructing railroad lines, branches and extensions,
sidings, yards, equipment, grade revision and
changes of line and other additions and improvements, and
for advances to subsidiary companies for construction pur¬
poses, the sum of $76,861,770 39, of which the sum of $53,519,421 89 was obtained from sales of capital obligations,
and the remainder, $23,342,348 50, from income.
Of the Equipment Trust Certificates issued under your
Company’s trust agreements, $2,000,000 were paid during
the year.
The total paid to June 30 1910 is $8,600,000 and
$9,900,000 were then outstanding and unmatured.
These expenditures and trust agreements have added to
your Company’s road 367.01 miles of main line and branches,
294.88 miles of second track and 558 miles of sidings; and to
its equipment 562 locomotives, 151 passenger cars, 22,245
freight cars and 892 maintenance-of-way cars.
The Company’s anticipated requirements during a series
of years for further branches, extensions, second tracks,
yards, sidings, terminals, equipment and other additions
and betterments necessary to develop and care for its business
will necessitate expenditures the cost of which will consid¬
erably exceed the unissued remainder ($8,431,000) of the
convertible bonds authorized at the annual meeting of stock¬
holders in October 1906.
Desiring to provide for such capital
requirements of the Company by means of issues of capital
stock rather than of mortgage bonds, the Board of Directors
has determined to submit t othe stockholders, at their Octo¬
ber meeting, a proposal to increase the authorized common
stock of the Company by $50,000,000 to an aggregate of
$150,000,000, and a further proposal to authorize the crea¬
or
Per train mile, passenger
Per
39.25
Among the industries established
the following:
16
+2.24
$759 33
$7,206 74
95,975,924
year are
+$447,739 10
170.06
144.20
Per ton mile (cents)
Per passenger per mile
+ 5.41
+$2,869,264
148,931.705
148.931.705
Mileage of Norfolk & Western box cars on Norfolk
& Western Railway
21,675,243 39,001,489
Average number of box cars In service on Norfolk
& Western Railway
2,030
4,126
Average dally mileage of box cars on Norfolk &
& Western Rftilwfty
29.25
25.90
Mileage of Norfolk & Western coal cars on Norfolk
& Western Railway
168,509,443 153,051,982
Average number of coal cars In service on Norfolk
& Western Railway
14,035
15,268
Average dally mileage of coal cars on Norfolk &
Western Railway.
32.89
27.46
Total Norfolk & Western freight car mileage on
Norfolk & Western Railway In transportation of
freight
221,782,642 221.004,127
Average number of Norfolk & Western freight
cars In service
34,406
34,005
Average number of Norfolk & Western freight cars
In service on Norfolk & Western Railway
19,097
23,065
30.52
26.25
Average dally mileage on Norfolk & Western Ry__
Total passenger car mileage on Norfolk & Western
Railway
21,391,488
19,709,897
Mileage of Norfolk & Western passenger cars on
Norfolk & Western Railway
16,114,735 15,059,154
Mileage of Norfolk & Western passenger cars on
foreign lines
1,107,312
1,262,353
Total mileage made by Norfolk & Western passen¬
ger cars
17,377,088
16,166,478
Mileage of foreign passenger cars (Including Pull¬
man) on Norfolk & Western Railway
5,276,753
4,650.743
Percentage of passenger car mileage made by for¬
eign cars
24.67
23.60
+ 0.041
+$369,943 02
234.82
mileage made by foreign
15 manufactories of mineral and metal products,
44
“
“ lumber products,
25
"
*' farm Implements and farm products,
4 coalmines.
$4,445,781 18
240.23
car
cars
+ 5.56
$4,815,724 20
mile (cents).
Operating expenses:
ern Railway
Percentage of freight
GENERAL REMARKS.
mile
of road
—
+4,123
74.05
2.127
SUMMARY OF PASSENGER AND FREIGHT OAR MILEAGE.
Year ending June 80—
1910.
1909
Mileage of Norfolk & Western freight cars on Nor¬
folk & Western Railway (Including caboose)
230,488,253 226,816,345
Mileage of foreign freight cars on Norfolk & West-
+ 1.92
Average
735
36.14
—1.28
21,99
—.25
14.15
—1.01
616
+ 19
28.02
+ 1.21
81.449
64,891
+ 16,558
1.946
1,925
+ 20
second track,
tion and sale from time to time of an issue or issues of bonds
of the Company not exceeding $50,000,000, convertible into
common stock at the option of the holders during a term of
years; such bonds to be sold in lieu of common stock at times
when market conditions do not favor the issue of stock; in
which event the stock required for conversion of the bonds
sold is to be reserved for that purpose out of the authorized
issue of common stock.,
736
THE CHRONICLE
The eity authorities and commercial bodies of Norfolk,
Virginia, have for several years urged the railroads entering
that city to join in the construction of a union passenger
station.
Your Company’s passenger station at Norfolk was
completely destroyed by fire Oct. 13 1909, and as it was
deemed expedient not to reconstruct it upon the old site,
temporary quarters were provided. Subsequent conferences
held by your Company’s representatives with those of the
Virginian Railway Company and the Norfolk Southern Rail¬
road Company resulted in a plan for providing a Joint pas¬
senger terminal for these three companies.
The Norfolk
Terminal Railway Company was accordingly organized
Feb. 2 1910, to acquire the necessary land and to construct
thereon the railway, station buildings, sheds, tracks and
other facilities requisite to a passenger terminal suitable for
the passenger traffic of the three companies which contem¬
plate the use of the terminal in common. Each of the com¬
panies is to subscribe for $25,000 of the capital stock; the
remainder of the amount required for construction and for
improvements and extensions will be provided by an issue
of terminal mortgage bonds guaranteed jointly and severally
by the participating companies.
The new passenger terminal of the Norfolk Terminal Rail¬
way Company will be adjacent to your Company’s former
station site.
A seven-story office building and passenger
station will be erected, with suitable space to be leased for
the general offices of the Virginian Railway and the Norfolk
Southern Railroad companies, and for such of your Com¬
pany’s offices as are located in Norfolk. The general fea¬
tures of location and arrangement have been agreed upon,
and since June 30 1910 architects have been employed in
preparing plans for the structure. You will be asked, at the
annual meeting on Oct. 13 1910, to authorize the necessary
contract with the Norfolk Terminal Railway Company.
It is estimated that the terminal will cost about $750,000
and will be completed during the year 1911.
Under Section 38 of the Act of Congress approved Aug. 5
1909 but made retroactive to Jan. 1 1909, the Commis¬
sioner of Internal Revenue of the United States assessed a
tax of $56,713 59 upon your Company’s net profits
for the
calendar year 1909, as defined by the United States Treasury
[VOL.
LXXXXI.
they would appear had the balance sheet of the preceding
year been in the same form.
It will be observed that under the order of the Inter-State
as
Commerce Commission, the Company is required to show on
its general balance sheet as a separate item under “Appro¬
priated Surplus” the aggregate amount expended by it from
its income for “Additions to
Property since June 30 1907,
through Income,” viz., $7,868,827 34, which includes the
$3,573,598 32 expended during the present year. It is the
conviction of your Board that this amount, like the aggre¬
gate credits to “Reserve for Accrued Depreciation” of equip¬
ment (see general balance
sheet), should be deducted from
Property Investment in Road and Equipment in order to
show correctly the net
capitalizable cost of road and equip¬
ment.
Such disposition of this item, however, is not per¬
mitted under the order of the' Inter-State Commerce Com¬
mission now in force, which requires the amount to be set up
as a
separate liability account.
It is, therefore, entered
on
both sides of the general balance sheet,
being included in the
property investment in “Road and Equipment” as an asset.
In the interest of the many
investors in your Company’s
capital stock, and following
growing custom, your Board
of dividends quar¬
terly instead of semi-annually. Until otherwise ordered,
therefore, dividends will be paid in February, May, August
and November to holders of adjustment
preferred stock as
registered at the close of January, April, July and October,
and in March, June, September and December to holders of
common stock as
registered at the close of February, May,
August and November.
Your attention is called to the fact that the published
monthly statements of Earnings and Expenses for May,
June and July 1910 show a large increase in the ratio of
operating expenses, notwithstanding the expansion of gross
earnings. This increase, which is due to higher cost of
wages and material, averages 4.52%over the corresponding
period of the previous year and 5.54% over the average
for the nine months July 1909 to April 1910 inclusive.
Until
a readjustment in
transportation rates can be obtained by
the Company fairly commensurate with its increased ex¬
penses, a return to the former operating ratio cannot rea¬
sonably be anticipated.
a
of Directors has directed the
payment
Department under its construction of said Section 38. In
the penalties imposed by the Act for the nonYour Directors have to report with deep regret the death
compliance with its requirements, your Company has made
on
March 28 1910 of their esteemed colleague, Colonel Levi
its return and has paid the assessment under
protest.
C. Weir.
They have recorded in the minutes of the proceed¬
Several cases involving the Constitutionality of this Sec¬
tion of the Act are pending in the Supreme Court of the ings of the Board their appreciation of Col. Weir’s high char¬
United States.
These cases were argued before that Court acter and of the long experience and keen business sagacity
in March 1910, but subsequently the Court entered an order which rendered his judgment of great value to your interests
on all transportation and financial
questions.
assigning the cases for re-argument before the full bench.
Your Company’s general ledger having been
At
the
kept during
meeting of the Board of Directorsheld April 28, Mr.
the year in conformity with the Form of General Balance J. B.
Thayer was elected a Director in the place of Col. Weir.
Sheet Statement
order to escape
prescribed by the Inter-State Commerce
Commission, the general balance sheet of June 30 1910, pre¬
pared therefrom exhibits a different arrangement and clas¬
sification from those of previous years.
A comparison in
The certificate of Messrs.
detail with the balance sheet of June 30 1909 would be too
voluminous for the limits of the annual report statement.
The
changes in amounts during the
year are,
Price, Waterhouse & Co., the
independent auditors elected to audit the books and accounts
of the Company, is attached to the Balance Sheet.
The officers and employees of the Company have faith¬
fully and efficiently discharged their duties during the year.
By order of the Board,
however, shown
L. E.
JOHNSON, President.
GENERAL BALANCE SHEET JUNE 30 1910.
ASSETS.
PROPERTY INVESTMENT—
Road and Equipment—Investment to June 30 1907—
Road
Comparison with
June 30 1909.
$151,440 746 22
Equipment
_
24,383,021 25
_
$175,823,767 47
Investment since June 30 1907—
Road
Equipment
General Expenditures
.
$15,978,992 78
11,823,425 41
5,088 80
+ $8,542,118 42
+ 4,641,390 06
+ 926 30
27,807,506 99
Note)
$203,631,274 46
3,132,533 53
Reserve for Accrued Depreciation (of Equipment), Credit.
$200,498,740 93
Securities—
Securities of Proprietary, Affiliated and Controlled
Companies—Pledged Stocks.
Securities of Proprietary, Affiliated and Controlled
Companies—Unpledged
Stocks
Funded Debt
I
__
(See
80,466 80
$61,198 33
61,310 72
__
—1,836 67
-2,547,802 84
122,509 05
Other Investments—
Advances to Proprietary, Affiliated and Controlled
Companies for Construction, Equipment
and Betterments—
Blackstone & Lunenburg RR. Co
Pocahontas & Western RR. Co
—51,184
—413,823
+ 151,134
+ 2,949
.
Big Stony Railway Co
Guyandot & Tug River Railroad Co
$955,187 98
219,208 72
...
09
44
94
38
1,174,396 70
Miscellaneous InvestmentsPhysical Property
$338,107 45
Securities—Unpledged..
+ 167,079 74
+ 59,772 50
885,538 09
1,223,645 54
WORKING ASSETS—
Cash
Securities Issued or assumed—Held In
Treasury
Marketable Securities—Stocks
Funded Debt
1“
Loans and Bills Receivable
Traffic and Car Service Balances due from Other
Companies
Net Balance due from Agents and Conductors
Miscellaneous Accounts Receivable
Materials and Supplies
Other Working Assets
$9,198,550 22
21,300 00
4,008 00
+ 5,642,708 46
—4,976,800 00
-
2,996,343
4,500,612
1,210,234
771,322
705,426
3,862,928
05
+ 2,831,933
+ 498,448
+ 267,742
+ 163,314
+ 78,497
+ 1,286,017
—978
74
71
60
05
£3
388 46
88
50
54
80
14
16
58
23,271,114 76
DEFERRED DEBIT ITEMS—
a dvances
wSk'nJ^iindJ*11068 10 Pr°Prletary* Affiliated and Controlled
Rents and Insurance paid In Advance. ””"”
’
Cash and Securities In Sinking and
Redemption Funds
Other Deferred Debit Items.
+1,195,039 79
Companies.
"
$1,377,456 47
14,925
76,774
11,984
87,462
+ 187,146 81
+396 31
+ 18,997 80
27
41
23
94
-6,385,000 00
—17,789 95
1,568,603 32
n
n
*7>8®8*827
of ‘‘Appropriated
the Liabilities side of the General
Balance8|
Sheet refers.
Surplus” to which the note
$227,939 477 10
+$8,950,319 38
Sept. 17 1910.1
THE CHRONICLE
737
LIABILITIES.
CAPITAL STOCK—
Comparison with
June 30 1910.
Adjustment Preferred
—
Common
$23,000,000 00
68,896,000 00
—
-
$91,896,000 00
FUNDED DEBT—
Mortgage Bonds.
Plain Bonds, Debentures and Notes
Equipment Trust Obligations
$83,283,500 00
22,673,000 00
9,900,000 00
115,856,500 00
WORKING LIABILITIES—
Traffic and Car Service Balances due to Other Companies
Audited Vouchers an,d Wages Unpaid—
Vouchers
+$2,896,000 00
+ 1,711,000 00
—2,000,000 00
$112,461 34
+45,555 44
$2,762,073 94
Pay Rolls
+ 1,479,410 07
+308,509 51
1,336,216 89
4,098,290 83
190,906 43
531,263 68
7,000 00
1,171 42
Miscellaneous Aocounts Payable
Matured Interest, Dividends and Rents Unpaid
Matured Mortgage Bonded and Secured Debt Unpaid.
Other Working Liabilities
—22,853 03
+4,722 68
+ 1,000 00
+ 1,171 42
4,941,093 70
ACCRUED LIABILITIES NOT DUE—
Unmatured Interest, Dividends and Rents Payable
Taxes Accrued
$1,053,865 33
538,794 78
—248,427 00
+41,790 06
1,592,660 11
DEFERRED CREDIT ITEMS—
Operating Reserves
Other Deferred Credit Items
APPROPRIATED SURPLUS (Sec Note)—
Additions to Property since June 30 1907, through Income—Road
Equipment
—833 34
~209~,863~31
$5,725,371 14
2,143,456 20
—
7^868,827
PROFIT AND LOSS—
Credit Balance.-
+84,497 00
+ 2,573,598 32
+ 1,000,000 00
34
5,574,532 64
+ 1,075,178
$227,939,477 10
25
+ $8,950,319 36
Note.—This sum consists of expenditures since June 30 1907 which In the
judgment of the Board of Directors were required to offset obsolescence
and depreciation due to changing conditions and were necessary to maintain the
earning capacity and preserve the value of the Company’s property,
and therefore should not be capitalized.
CERTIFICATE OF INDEPENDENT AUDITORS.
PRICE, WATERHOUSE & COMPANY,
Chartered Accountants.
To the Shareholders of the Norfolk & Western
Railway Co.:
We have examined the books and accounts of the Norfolk & Western
for the year ending June 30 1910, and
New
York, September 8 1910.
Railway Company at Roanoke and Philadelphia
We
Certify that the annexed General Balance Sheet is properly drawn
position of the Company at that date.
V.
up
,
therefrom
PRICE,
so as
to show the true financial
WATERHOUSE
&
CO..
Chartered Accountants.
CANADIAN PACIFIC RAILWAY COMPANY.
TWENTY-NINTH ANNUAL
REPORT—FOR THE FISCAL YEAR ENDED JUNE 30TH 1910.
To the Shareholders:
The accounts of the Company
1910 show the following results:
for the
year
ended June 30th
Gross Earnings
Working Expenses.
$94,989,490 33
61,149,534 46
Net Earnings
Net Earnings of Steamships in excess of amount included
monthly reports
Interest on deposits And loans
$904,742
Interest from Minneapolis St. Paul & Sault Ste.
Marie Ry. on bonds held by the Company
159,720
Interest from Mineral Range Railroad Co. on
bonds held by the Company
50,160
Interest from Montreal & Atlantic Ry. and on
other Securities held by the Company.
71,214
Dividend on St. John Bridge & Railway Ex¬
tension Company Stock held by the Company
50,000
Dividend on Alberta Ry. & Irrigation Co. Stock
held by the Company..
86,531
Dividends
$33,839,955 87
In
909,235 60
19
meet
00
08
00
02
on
Minneapolis St. Paul & Sault Ste.
Ry. Preferred and Ordinary Stocks held
by the Company.
1,104,110 00
Marie
2,426,477 29
$37,175,668 76
9,916,940 33
Surplus
Deduct amount transferred to Steamship
Re¬
placement Account
$900,000 00
Contribution to Pension Fund
80,000 00
$27,258,728 43
$26,278,728 43
From this there has been charged a
half-yearly
dividend on Preference Stock of 2 per cent,
paid April 1st 1910...
$1,102,599 98
And a half-yearly dividend on Ordinary Stock
of 3 per cent, paid April 1st 1910
4,500,000 00
And Interest on Installments on New Stock
Subscriptions, paid July 1st 1910
417,179 32
6,019,779 30
$20,258,949 13
From this there has been declared a second halfyearly dividend on Preference Stock of 2 per
cent, payable October 1st 1910
$1,112,333 33
And a second half-yearly dividend on
Ordinary
Stock of 3 H per cent, payable 1st Oct. 1910.5,250,000 00
6,362,333 33
year
In addition to the above dividends
on Land Funds.
paid from Interest
on
Ordinary Stock,
property.
7. The sales of
975,030
980,000 00
Leaving Net Surplus for the
capital expenditures that had your previous sanction.
guaranty of interest was endorsed on Four per
cent Consolidated
Mortgage Bonds of the Minneapolis St. Paul
& Sault Ste. Marie
Railway Company to the amount of
$2,200,000, issued and sold to meet the cost of constructing
one hundred and ten miles of
railway added to that Com¬
pany’s system.
6. Wth the consent of your
Company, the surplus earnings
of the Duluth South Shore & Atlantic
Railway Company
in excess of the interest on the bonds held
by the public and
the rentals, were used for
necessary additions to that Com¬
pany’s facilities and for the general betterment of the
5. Your
00
Deduct Fixed Charges
tion of authorized branch lines; £98,200 was used to
acquire
the same amount of your Company’s 1st
Mortgage 5% Bonds;
and the balance, £431,770, was devoted to the
acquisition
of the bonds of other
railway companies whose lines con¬
stitute a portion of your system, the interest on which
had,
with your sanction, been guaranteed by
your Company.
4. Four per cent Preference Stock to the amount of
£600,000 was created and sold, the proceeds being used to
$13,896,615 80
one per
cent
was
agricultural land during the
acres, for $14,468,564 33,
per acre.
Included in this area
being
year aggregated
an average of $14 84
were 145,421 acres of irri¬
gated land, which brought $26 59 per acre, so that the aver¬
age price of the balance was $12 78 per acre.
After further surveys and
reports your Directors have
decided that water should be provided for the Eastern Section
of the Irrigation Block,
containing about 1,100,000 acres,
before anything is done in the Central
Section, and, as a
consequence, they have authorized the execution of the
work, which will cover a period of about three years, and will
involve an estimated expenditure of
$8,500,000, for which
they will ask your approval. The average cost per acre of
irrigating this block exceeds by a considerable amount the
average in the Western Section, due to the greater difficulty
in reaching the source of water
supply, to the mileage of the
ditches, namely, 3,500 miles as compared with 1,600 miles,
and to the improved character of the
structures; but, in the
light of past experience, your Directors are confident that
the financial and other results will be
satisfactory.
working expenses for the year amounted to 64.38 The money required for this work willeminently
of course be provided
per cent of the gross earnings and the net earnings to 35.62 from the
accumulated land funds.
3
per cent, as compared with 69.92 and 30.08 per cent respect¬
8. Your Directors have, entered into an
agreement with
ively in 1909.
the New Brunswick Southern Railway Company, whose
line
3. Four per cent Consolidated Debenture Stock to the
extends from West St. John to St. Stephen, New Brunswick,
amount of £1,598,935 was created and
sold, and of the a distance of 83 miles, for a lease of the railway for a period
proceeds the sum of £1,068,965 was applied to the construc¬ of 999 years at an
annual rental equivalent to three per cent
2. The
,
.
128
THE CHRONICLE
per annum on the outstanding bonds of the Company to
the amount of $500,000. The lease will be submitted for
your
approval.
9. An arrangement has been
completed for the transfer
to your Company, on demand, of practically all of the Capital
Stock of the Dominion Atlantic Railway Company, consisting
of £270,000 of Preference Stock and £230,000 of Ordinary
Stock, at the price of 60% of its face value for the preferred
and 20% of its face value for the common shares.
Some
time, probably six or eight months, must elapse before the
arrangement can be made effective. The railway extends
from Yarmouth to Truro, with branches to Kingsport and
Totbrook Mines, a total of 247 miles, and a connection is
made with Halifax under a contract with the Dominion
Government for the use of 45 miles of the Intercolonial Rail¬
Your Directors are confident that important traffic
way.
advantages will result from the acquisition of this railway
and it will give your Company a foothold in the Province of
Nova Scotia where you have heretofore had no interests.
a
10. You will be asked to authorize the issue and sale of
sufficient amount of 4% Consolidated Debenture Stock to
provide for the construction of the following branch lines,
are in the agricultural districts of Manitoba,
Saskatchewan and Alberta, namely: Moose Jaw-Outlook
Branch, 118 miles; Weyburn-Lethbridge Branch, 50 miles;
Teulon Extension, 56 miles; Lauder-Grnfin Branch, 33 miles;
Craven-Bulyea Branch, 21 miles; Kipp-Aldersyde Branch, 58
miles; Langdon Branch, 40 miles; Regina-Colonsay Branch,
134 miles; Snowflake Branch Extension, 7 miles; VirdenMcAuley Branch, 36 miles.
11. A railway between a point in the vicinity of Galloway,
British Columbia, on what is known as your Crow’s Nest
Line, and Golden, on the main line, would be of service to
settlers in the valley of the Columbia and Kootenay Rivers,
and would, no doubt, encourage further settlement.
The
-distance between the termini is about 175 miles, but it is
not desirable that the railway should be constructed over
the whole distance immediately but rather in stretches of
forty or fifty miles as circumstances may seem to warrant.
A charter and the ordinary subsidy for this line of railway
were given by theDominion Parliament to a company known
as the “Kootenay Central Railway Company,” and your
Directors have, subject to your approval, made an agree¬
ment with that Company for the construction of the railway
ih sections of such length and within such period of time as
your Company may designate, each section when completed
to be leased to your Company for 999 years at a rental
equivalent to the interest at 4% per annum on the bonds of
the Kootenay Central Railway Company, issued with the
consent of your Company.
The transaction will be sub¬
mitted for your approval.
12. The growth of industries at Shawinigan Falls, in the
Province of Quebec, where a large water-power has been
developed, and the desirability of getting a better connection
with the mills at Grand’Mere led to an arrangement with
the St. Maurice Valley Railway Company by which that
Company agreed to construct its line between Three Rivers
and Grand’Mere, a distance of 27.7 miles, and on completion
to lease it to your Company for a period of 999 years at a
rental equivalent to 4% per annum on the bonds of the St.
Maurice Valley Railway Company to an amount not exceed¬
ing $35,000 per mile, issued with the consent of your Com¬
pany.
A resolution embodying the transaction will be sub¬
all of which
[Voii. LXXXXI,
Capital Stock
*150,000,000
Payments on Subscription. to New Issue Capital Stock
(*30,000,000 00)____
23,530,085
Pour Per Cent Preference Stock.
55,616,665
Four Per Cent Consolidated Debenture Stock..;.
136,711,616
Mortgage Bonds:
First Mortgage, 5 per cent
*34,998,633 33
Canada Central Railway, 6 percent
973,333 33
Algoma Branch, 1st Mortgage
3,650,000 00
:
39,621,966
Current Liabilities:
Audited Vouchers
Miscellaneous Accounts Payable
not
1,404,753
1,360,000
2,678,038
4,040,666
Sales of Land and Town Sites
43,762,194 70
42,869,845 00
Surplus
*526,250,289 46
Note.—In addition to above assets, the Company owns 7,539,722 acres
of land In Manitoba. Saskatchewan and Alberta (average sales past year
$14 84 per acre), and 4,474,094 acres In British Columbia.
I. G. OGDEN,
Vice-President.
AUDITOR’S CERTIFICATE.
We have examined the Books and Records to the Canadian
Pacific Railway Co., for the fiscal year ending June 30th
1910, and, having compared the annexed Balance Sheet and
Income Account therewith, we certify that, in our opinion,
the Balance Sheet is properly drawn up so as to show the
true financial
position of the Company at that date, and
is correct.
that the relative Income Account for the year
PRICE, WATERHOUSE & CO.,
Chartered Accountants (England).
Montreal, August 16th 1910.
FIXED CHARGES FOR YEAR ENDED JUNE 30TH 1910.
£7,191,500 1st Mortgage Bonds 5% due July 1st 1915
*1,749,931
£200,000 Canada Central Ry. 2d Mortgage 6% Bonds,
due November 1st 1910
58,400
£200.000 St. Lawrence 4s Ottawa Ry. 4% 1st Mortgage
Bonds
38,933
*2,544,000 Man. So. West. Colzn. Ry. 1st Mtge. 5% Bonds,
due June 1st 1934
127,200
Toronto Grey & Bruce Ry. Rental
140,000
£4,007,381-15-5 Ontario & Quebec Ry. Debenture Stock 5%
975,129
*2,000,000 Ontario & Quebec Ry. Ordinary Stock, 6%
120,000
£1,330,000 Atlantic & North west. Ry. 1st Mtge. Bonds.
due January 1st 1937
323,633
£750,000 Algoma Branch 5% 1st Mortgage Bonds, due
66
182,500
138,357
1,400
23,800
372,829
00
60
00
00
74
27,049
33,812
42,062
2,050
86
80
33
00
July 1st 1937
Rental, Calgary & Edmonton Ry
Rental, Famham to Brigham Jet
Rental, Mattawamkeag to Vanceboro
Rental, New Brunswick Ry. System
Rental, Terminals at Toronto
Rental. Terminals at Hamilton
Rental, Hamilton Jet. to Toronto
Rental, St. Stephen & Mllltown Ry__
Rental, Lindsay Bobcaygeon & Pontypool Ry..
Rental, St. Marys & Western Ontario Ry
Rental, Jollette & Brandon Ry
Rental, Lachlne Canal Branch
Interest on Montreal & Western Ry
Interest on Equipment Obligations
4% Consolidated Debenture Stock.
£27,990,153 Interest from July 1st 1909
*5,448,749 76
£90,275 Interest from January 1st 1910
8,786 77
£11,000 Interest from July 1st 1910
esteemed friend.
Earlier in the year
Mr. Archer Baker, the Company’s
European Manager, who had been attached to the staff since
1881, died suddenly in London, England. Mr. Baker was a
most devoted and valued officer.
14. Mr. Adam R. Creelman, K.C.,
the Company’s General
elected a Director of the Company to fill the
vacancy caused by the death of Sir George A. Drummond.
was
15. The undermentioned Directors will retire from office
at the approaching annual meeting.
They are eligible for
re-election.
RT.HON.LORD STRATHCONA AND MOUNT ROYAL. G.C.M.G.
SIR THOMAS G. SHAUGHNESSY. K.C.V.O.
MR. THOMAS SKINNER.
For the Directors.
T. G.
00
00
56
00
34
578 79
3,987 73
5,000 00
973 16
16,643 68
83,130 21
8,000 00 5,449,536 53
SHAUGHNESSY,
ft PYki
CONDENSED BALANCE SHEET JUNE 30 1910.
Railway and Equipment
Ocean. Lake and River Steamships
*317.226 265 81
18 460 161 38
Acquired Securities (cost)—Exhibit “A”_
Properties held In Trust for the Company
Deferred Payments on Land and Town Site Sales
Advances to Lines under Construction
Advances and Investments
Materia! and Supplies on Hand
Current Assets:
Agents and Conductors’ Balances
Net Traffic Balances
Miscellaneous Accounts Receivable
EXHIBIT “A”—ACQUIRED SECURITIES.
Securities of Leased Lines.
Atlantic & North West Ry. 1st Mortgage Bonds, 5%
Eganvllle Branch 1st Mortgage Bonds, 4%
Guaranteed Stock
Par Value.
*19,466 67
302,400 00
3,240,000 00
•Capital Stock
British Columbia Southern Ry. 1st Mortgage Bonds, 5%
176,000 00
1,175,000 00
172,200 00
...
•Capital Stock
Berlin Waterloo Wellesley & Lake Huron Ry. 1st Mortgage
Bonds, 4% •
Calgary & Edmonton Ry. 1st Mortgage Bonds, 4%
•Capital Stock
Columbia & Kootenay Ry. 1st Mortgage Bonds, 4%
426,000 00
3,700,000 00
—
1,000,000 00
1,277,500 00
•Capital Stock
Columbia & Western Ry. 1st Mortgage Bonds, 4%
•Capital Stock
250.000 00
5,691,000 00
—
925,000 00
Great North West Central Ry. 1st Mortgage Bonds, 5%
1,375,000
450,000
2,415,000
125,000
399,000
250,000
780,000
2,627,513
2,520,000
160,600
•Capital Stock
Guelph & Goderich Ry. 1st Mortgage Bonds, 4%
•Capital Stock
Georgian Bay & Seaboard Ry. 1st Mortgage Bonds, 4%
•Capital Stock
•Kootenay & Arrowhead Ry. 1st Mortgage Bonds, 5%..... 1
Manitoba 4> North Western Ry. 1st Mortgage Bonds, 6%__
1st Mortgage Bonds, 5%
Shell River Branch 1st Mortgage Bonds, 5%
Debenture Stock, 5%
:
Preferred Stock, 5%
•Capital Stock
Manitoba South West Col. Ry. 1st Mortgage Bonds, 5%
•Capital Stock
Montreal & Ottawa Ry. 1st Mortgage Bonds, 5%
•Capital Stock
-_i
Northern Colonization Ry. 1st Mortgage Bonds, 4%.
•Capital Stock
Nicola Kamloops & Slmllkameen Ry. 1st Mortgage Bonds, 4 %
"
___
"
'
69*076*971
e’473’844
27!942*113
3 485*435
9*432*084
10.948*467
'
12
95
05
67
40
05
*2.129,074 72
......
-
5,612,113
72,000
700,000
1,636,250
227.200
Bonds, 4%
•Capital Stock..
Ontario & Quebec Ry. Capital Stock
Orford Mountain Ry. 1st Mortgage Bonds, 4%...
•Capital Stock
Saskatchewan & Western Ry. 1st Mortgage Bonds, 5%
300,000
1,175,000
250,000
3,075,000
.
804,000
5,000
702,000
501.000
181.040
232,500
466,000
1,000.000
400,000
—
.
.
.
•Common Stock
;
•St. Lawrence & Ottawa Ry. Common Stock
.
10*088,*734
86
46,165,817 05
TUsonburg Lake Erie & Pacific Ry. 1st Mortgage Bonds, 4%
•Common Stock...
.;
Vancouver & Lulu Island Ry. 1st Mortgage Bonds, 5%
;. *Capital Stock...
4.J..X
Walkerton & Lucknow Ry. 1st Mortgage Bonds, 4%
•Common Stock
.!
—...
.
*526.250,289
48
...
......
63
00
00
00
00
1,118,000 00
....
.
130,470 29
4,690,849 13
Temporarily Invested in Government Securities
•Common Stock.
Ottawa Northern & Western Ry. 1st Mortgage
00
00
00
00
00
00
00
33
00
00
613,200 00
415,000 00
—
Montreal, August 29th 1910.
34
*9,916,940 33
February last of the Honorable Sir George
A. Drummond, K.C.M.G., who joined the Board in 1903,
was a source of sincere sorrow to your Directors, who felt
that they had lost in him a most capable colleague and
Cash ft* Hand
oo
*5,457,536 53
Less received from subsidy North¬
ern Colonization Railway..
13. The death in
-
05
00
93
67
6,295,420 93
3,809,830 10
mitted for your approval.
Counsel,
66
*1,208,928 67
195,824 38
presented
Equipment Obligations
Equipment Replacement Fund
Steamship Replacement Fund
Appropriation for Additions and Improvements
Reserve Fund for Contingencies
Land Grant:
71
18
14,549,196 65
Interest on • Funded Debt and Rental of
Leased Lines:
Coupons due 1st July 1910 and Including
Coupons overdue
06
*5,928,773 50
4.067,151 03
4,553,272 12
Pay Rolls
Accrued Fixed Charges
06
00
00
00
00
00
00
00
00
00
00
00
00
00
455,000 00
•
,
25,000 00
740.000 00
10,000 00
Sep*. 17
1910.)
THE CHRONICLE
Securitiee ef Other Companies, Controlled but Not Leased.
Alberta Railway A Irrigation Co. Ordinary Stock
$1,830,000
Duluth South Shore A Atlantic Ry. Con. Mtge. Bonds, 4%
15.107,000
Income Certificates
3,000,000
Preferred Stock
5,100,000
Ordinary Stock.
6,100,000
*
Kingston A Pembroke Ry. 1st Mortgage Bonds, 3%
1st Preferred Stock
2d Preferred Stock
*
.
Ordinary Stock
Minn. St. Paul & Sault Ste. Marie Ry. 1st Mtge. Bonds, 4%
Preferred Stock, 7%
•
Common Stock
Montreal A Atlantic Ry. 1st Mortgage Bonds, 5%
Common Stock
South Ontario Pacific Ry. Common Stock*
St. John Bridge & Ry. Extension Co. Common Stock*
Dominion Express Co. Common Stock*
Chateau Frontenac Hotel Co. Common Stock*
•
....
Miscellaneous Securities.
Canadian Pacific Ry. 1st Mortgage Bonds, 5%
Canada Central Ry. 2d Mortgage Bonds, 6%
Canada North West Land Company Common Stock
Mineral Range Ry. 1st Mortgage Bonds, 4%
Town of Morris, Manitoba, Bonds. __
Nakusp A Slocan Ry. Common Stock*
Canadian Pacific Ry. (Souris Branch) 1st Mtge. Bonds, 4%*
Pacific Steamships 4% First Mortgage, £720,000*
Pacific Coast Steamships, 5% First Mortgage, £225,000*.
00
00
00
00
00
00
00
00
00
00
00
00
00
00
$555,773 33
48,666 67
140,625 00
1,254,000 00
15,000 00
300,000 00
1,946,666 67
3,504,000 00
1,095,000 00
—
•
300,000
005,450
134,000
1,800,175
3.003,000
5,257,700
10,515,300
045,000
2,180,000
20,000
200,000
2,000,000
280,000
00
00
00
00
929
RECEIPTS AND EXPENDITURES TEAR ENDED JWWB
80TH 1916Cash In hand, June 30th 1909
$81,078 812 94
Temporarily Invested In Government Securities
4,111,901 03
RECEIPTS.
Surplus Revenue as per statementLand Department—
Lands and Townsltes—
Net proceeds of sales
Less
amounts
remaining
89,978,728 43
...$17,694,927 ft
in
Deferred
Payments........
16,403.247 $•
Collection of Deferred
previous years’ sales.
Payments
$1,291,579 99
on
4,814.906 25
#496,488 15
Bonuses—
Dominion Government Subsidy
On Moosejaw Branch
$803,360 06
30,800 06
On Stonewall Branch (Teulon Extension)
8*4,160 06
Capital Stock—
Subscription to $30,000,000 00 Additional Ordinary Stock—
Payments on Installments
23,530,085 00
Four Per
Cent Preference Stock—
Amount realized from Issue £600,000
Consolidated Debenture Stock—
Amount realized from Issue £1,598,935
2,946,611 49
7,390,123 91
$118,878,240 30
Denotes oomplete ownership.
We have examined all the Securities,
including those listed
above, held for account of the Canadian Pacific Railway
Company, by the Treasurer, and have received certificates
from the Custodians for those deposited with the Banks and
Trust Companies for safe custody, and, having
compared
them with the records of the Company, find them correct
$93,026,911 45
Deduct—
Advances to Lines under Construction
Advances and Investments
Current Assets..
$3,485,435 67
9,432,084 46
6,950,394 14
$19,867,914 21
16,130,755 20
Less amount at June 30th 1909.
$89,289,752 44
and in order.
PRICE, WATERHOUSE & CO.,
Chartered Accountants (England).
Montreal, August 16th 1910.
EXHIBIT "B”—LANDS SOLD.
Amount
Canadian Pacific Land Grants—
Manitoba South Western Grant—
July 1st 1909 to June 30th 1910..
July 1st 1908 to June 30th 1909..
Great North West Central Grant—
July 1st 1909 to June 30th 1910..
July 1st 1908 to June 30th 1909..
Acres.
Average
Realized.
.
Per Acre.
..925,260
..363,085
$14,021,316
4,974,017
$15 15
49,357
12,314
441,985
99,838
8 95
8 11
..
..
13 70
413
647
5,263
11,662
12 74
-.975,030
..376,046
$14,468,564
5,085,517
$14 84
18 02
Total Sales—
July 1st 1909 to June 30th 1910..
13.52
POSITION OF LAND GRANTS AT JUNE 30TH 1910.
Canadian Pacific—
Acres.
Acres.
Grants
26,710,400
Disposed of to the Dominion Government under
agreement of March 30th 1886..
6,793,014
Sales to June 30th 1910.
Less canceled during year
19.917,386
12,638,090
55,952 12,582,138
Quantity of Land unsold
Manitoba South Western—
Total Grant
Sales to June 30th 1910
7,335,248
1,316,173
21,206
102,641
Total Agricultural Lands owned by the Company
...7,539,722
BRITISH COLUMBIA LANDS.
Columbia and Kootenay—
Total Grant
190,000
Sales to June 30th 1910
37,385
Less canceled during year
26
137,365
52,635
3,451,093
304,807
11,866
292,947
Quantity of Land unsold
Columbia and Western—
Grant Received.
Sales to June 30th 1910
Less canceled during year
160
Add—
Proceeds Manitoba So. West. Col. Ry. Land Sales
Proceeds Great North West Cent. Ry. Land Sales
Pnooeeds Manitoba A North Western Ry. Land Sales
$84,011,275 64
7,292,889 21
$76,718,436 63
2,931,452 56
967,779 30
34,885 29
$80,652,553 78
1,210,239 03
$83,418,141 59
3.462,425 89
$79,955,715 70
Amount expended in Construction of Railway and Equip*
meat ana deducted from oost of Property
88,193.521 00
Exhibit "E”
Additions and Improvement*,
Exhibit “F”
907,212 23
5,346,243 88
6,856,307 62
leased and acquired Unes.
3.412.234 54
4,119,332 65
...
Rolling Stock, Shops and Machinery
Ocean, Lake and River Steamships—
Fitting Atlantic Steamships for Passenger
service, and providing facilities at Liver¬
pool and Montreal
Additional Steamships and Appurtenances
$16,110 16
for Pacific Coast Service
Additional River Steamers and Barges
Extension to Steamship “’Athabasca”.....
$01,241 16
15,826 01
41,097 76
874,275 06
Securities Acquired—
Canadian Pacific Ry. 1st Mortgage Bonds.. $477,906 66
Calgary A Edmonton Ry. 1st Mortgage Bonds 700,000 00
A Pembroke Ry.
399,000 00
1st Mortgage
Bonds
Orford Mountain Ry. 1st Mortgage Bonds..
Tllsonburg Lake Erie A Pacific Ry. 1st
291,420 06
702.000 00
125,000 00
Bonds
175,000 06
Kingston A Pembroke Ry. Stock
Minneapolis St. Paul A Sault Ste. Marie Ry.
Balance of Subscription to Ordinary and
Preferred Stock
,
300 00
1,831.660 66
*
4,702.287 46
270,000 00
279.026 72
t*
Payment of Equipment Obligation*
Increase In Material and Supplies on hand
*39,346.632 72
Deduct—
Increase in current liabilities
0,305,482 19
...
$33,035,200 53
10,085,784 86
Cash In Hand
EXHIBIT
$81,862,792 81
-
417 179 32
Properties held In trust forthe CompanyIII”IIIIIIII”I
Construction of acquired and branch lines. Exhibit ”D”
Additions and Improvements, main line and branches.
46,165,617 95
“DM—CONSTRUCTION—ACQUIRED AND
BRANCH LINES.
1,263,313
Interest on proceeds and Deferred Payments.
.$3,055,348 00
Less Amount paid Shareholders—
October 1st 1909
$750,000 00
April 1st 1910
750,000 00
1,500,000 00 $1,555,348 78
on Irrigation.
10,600,000 00
Subscriptions to New Ordinary
$60,869,752 44
84,592
Lass: Expenses, cultivation rebate and 10% on Land Grant
Bonds retired and canceled
1
Expenditure*
on
.
1,347,905
EXHIBIT "C”—DETAILS OF BALANCE SHEET ITEM.
LAND GRANTS.
12,582.137 acres and Townsltes sold, amounting to
$73,821,754 84
6,793,014 acres disposed of to the Dominion Gov’t In 1886. 10,189,521 00
Deduct—
Installments
84,752
Total British Columbia Lands owned
by the Company
4,474,094
The Columbia A Western Ry. claims a further area about
which there Is
dispute with the British Columbia Government.
Proceeds British Columbia Land Sales
on
Temporarily invested In Government Securities
3,158,146
Quantity of Land unsold
a
Interest
Stock
5,250,000 00
5,250,000 00
Mortgage Bonds
Vancouver A Lulu Island Ry. 1st Mortgage
217,363
Quantity of Land unsold.
British Columbia Southern—
Total Grant
Sales to June 30th 1910
Less canceled during year
Ordinary Stock—
October 1st 1909
April 1st 1910.
Bonds
320,004
Quantity of Land unsold
$2,156,533 30
on
3
per cent paid
3 Y per cent paid
Kingston
101,833
Great North West Central—
Total Grant
Sales to June 30th 1910
Dividends
.$1,053,932 32
1,102,599 98
Georgian Bay A Seaboard Ry. 1st Mortgage
1,294,967
Quantity of Land unsold
EXPENDIT URES.
Dividends on Preference Stock—
2 per cent paid October 1st 1909
2 per cent paid April 1st 1910.
——
1,396,800
Less canceled during year
8,787.159 01
—
$43,762,194 70
Pheasant Hills Branch
...$1,510,533 05
14,220 23
Wolseley-Reston Branch
Lachtne Canal Brandi..
Moose Jaw-Outlook Branch...
...
Bulyea Branch
Vlrden-McAuley Branch
Stonewall Branch Extension
LaudeivGriffln Brandi-.
Weyburn-Lethbrldge Branch..
Snowflake Branch Extension
Langdon Branch
Kipp-Aldersyde Brandi 1..
4
...
Klnlnvie Branch
Craven-Colonaay Brandi.....
Torouto-Sudbury Line
Survey* of Projected Unes
.....
136,610
449,649
479,591
112,238
205,507
24,270
498,774
16,720
456,621
464,232
55,850
514,281
264,813
152,310
21
52
73
13
45
91
51
48
08
02
78
38
54
71
$5,848^43 88
EXHIBIT “E"—DETAIU? QF EXPENDITURE ON ADDITIONS AND
IMPROVEMENTS FROM JULY 1ST 1909 TO JUNE 80TH 1010.
Main Line—
Suebec
toTerminals
Bonfleld
ontreal
16
$300.167
495,409 61
Windsor St. Station Extension.
Bonfleld to Port Arthur
Port Arthur to L&ggan
Laggan to Vancouver
r-.-
235,294 59
m
1,260,615 >2
Total Main Line
Branch Unes..
Telegraph Extensions and Additions
Rented and Temporary Sidings
Total Main Line and Branches...
618,111 02
2,848.571 88
$5,255,069 49
—- -
-
-
51*512 22
151*25?
2?
188,224
41
$6,658,807 62
730
THE CHRONICLE
•EXHIBIT
“P’—EXPENDITURE ON LEASED AND
ACQUIRED
LINES FROM JULY 1ST 1909 TO JUNE 30TH 1910.
Ontario & Quebec Railway
$1,601,821 58
Atlantic & North West Railway
231,032 00
New Brunswick Railway
347,537 80
Montreal & Western Railway. 1
79,397 96
Manitoba South-Western Colonization Railway
114,305 50
Columbia & Kootenay Railway.
39,437 14
Manitoba & North-Western Railway
35,347 31
Great North-West Central Railway
8,862 74
Calgary & Edmonton Railway
Columbia & Western Railway
Montreal & Ottawa Railway
Nicola Kamloops & Similkameen Railway
Lindsay Bobcaygeon & Pontypool Railway
Joliette & Brandon Railway
*3t. Mary’s & Western Ontario Railway
518,269 62
334,853 05
49,339 27
*
16,849 37
1,163 85
5,864 93
28,152 42
TRAIN
[VOL.
TRAFFIC STATISTICS—FOR TWELVE
JUNE 30TH 1910 AND 1909.
“
Freight
“
60,158,887 03
791,745 45
Malls
“
Sleeping Cars, Express, Elevators & Miscellaneous
9,226,836 99
Total
STATEMENT OF WORKING EXPENSES FOR THE
JUNE 30TH 1910.
Transportation Expenses
Maintenance of Way & Structures
Maintenance of Equipment
Traffic Expenses
Parlor and Sleeping Car Expenses
Expenses of Lake and River Steamers
General Expenses
Commercial Telegraph
$94,989,490 33
YEAR ENDED
—
$27,425,237
13,653,938
12,567,493
2,436,651
600,796
858,834
2,548,799
1,057,783
61
04
86
26
11
34
89
35
Total.
$61,149,534 46
STATEMENT OF SURPLUS INCOME ACCOUNT JUNE 30TH 1910.
Balance at June 30th 1909
1. .$35,164,830 09
Dividends paid October 1st 1909:
On Preference Stock
$1,053,933 32
On Ordinary Stock
4,500,000 00
—
Amount applied on account of Additions and Improvements
5,553,933 32
$29,610,896 77
7,000,000 00
$22,610,896 77
Surplus Income for
ended June 30th 1910.$26,278,728 43
Less Dividends on Preference and Ordinary
Stock, paid April 1st 1910..$5,602,599 98
year
Interest on Installments on
New Stock Subscriptions
Mileage—
Passenger trains
Freight trains
16,119,543
20,574,576
1,672,993
14,170,522
18,816,900
1,932,776
38,367,112
34,920,198
82,472,864
2,833,703
67,763,387
2,763,961
+ 14,709,477 21.71
2.52
+ 69,742
34,158,162
30,545,494
+3,612,668 11.83
119,464,729
101,072,842
+ 18,391,887 18.20
433,498,575
118,134,609
22,374,512
363,036,580
108,873,650
20,048,637
+ 70,461,995 19.41
8.51
+ 9,260,959
+ 2,325,875 11.60
cars..
per
,007,696
491,958,867
+82,048,829 16.68
Traffic Train Mile..
6.72
6.28
+ .44
7.01
25.80
23.71
+ 2.09
8.81
Mixed trains
.....
9.87
Mileage—
Passenger:
Coaches and P.
and S', cars
D
Combination cars
Baggage, Mall and
5
Freight:
Loaded
.
Empty..
Caboose.
.
Total Freight
Passenger cars
Freight
cars per
Train Mile
Traffic
Passenger Traffic—
Passengers carried (earn¬
ing revenue)
Passengers carried (earn¬
ing revenue) 1 mlle.l,
Passengers carried (earnIng revenue) 1 mile
per mile of roadi...
Average
journey
,050,924
9,675,075
+ 1,375,849 14.22
,255,609 1,058,912,909
+ 282,342,700 26.66
133,080
108,750
+24,330 22.37
121.37
109.45
+11.92 10.89
2.20
2.04
+.16
7.84
1.81
1.86
—.05
2.69
75.38
65.76
15.72
15.01
+.71
4.73
28.47
27.96
+.51
1.82
1.64
1.49
+.15 10.07
2,456.20
+445.93 18.16
per
miles.
passenger
amount
re¬
per passen¬
ger
$
Average amount re¬
ceived
per passen¬
cts.
ger mile
Average
ceived
Average
number
of
train
passengers per
mile.
Average
number
per
mile
car
20.258,949 13
$42,869,845 90
From this there has been declared the dividends on Prefer¬
ence and
Ordinary Stock payable October 1st 1910,
amounting to..
$6,362,333 33
-
APPROPRIATION FROM SURPLUS FOR ADDITIONS AND
IMPROVEMENTS.
Balance at June 30th 1909
$1,135,720 70
Premium on sale $3,984,000 Ordinary Stock.
2,394,779 08
Amount appropriated during year
7,000,000 00
4,235,078 85
Amount unexpended
$6,295,420 93
STATEMENT OF EQUIPMENT AT 30TH JUNE 1910.
Locomotives
_J.
1,534
First and second-class Passenger Cars, Baggage Cars and Colonist
Sleeping Cars
:
1,515
First-class Sleeping, Dining and Cafe Cars
294
Parlor Cars, Official and Paymasters’ Cars
61
Freight and Cattle Cars (all kinds)
48,850
Conductors’ Vans
867
Boarding, Tool and Auxiliary Cars and Steam Shovels
3,437
OCEAN, LAKE AND RIVER STEAMERS.
Atlantic
Service.—Empress of Britain, Empress of Ireland, Lake Mani¬
toba, Lake Champlain, Lake Michigan, Mount Temple, Montcalm, Montfort, Lake Erie. Montrose, Montreal, Milwaukee, Mount Royal, Montezuma,
Monmouth, Cruiser.
Pacific Service.—Empress of India, Empress of Japan, Empress of China,
Monteagle.
Pacific Coast Service.—Amur, Beaver, Charmer, City of Nanaimo, Czar,
Joan, Nanoose, Otter, Princess Beatrice, Princess Charlotte, Princess Ena,
Princess May, Princess Royal, Princess Victoria, Tees, Transfer No. 1,
Transfer No. 2, Queen City.
Upper Lake Service.—Manitoba, Athabasca, Alberta, Keewatln, Asslnlbola.
British Columbia Lake and River
Service.—Aberdeen, Hosmer, Kokanee,
Mlnto, Moyle, Nelson, Rossland; Kuskanook, Columbia, Okanagan,
Proctor, Sandon, Slocan, York, Kootenay, Valhalla, Ymlr, Whatshan.
Ferry Service.—Michigan, Ontario.
DESCRIPTION OF FREIGHT FORWARDED.
Year ended June 30th
1908.
1909.
1910.
Flour
Barrels.
5,843,988
6,683,354
7,489,812
Grain
Bushels.
88,345,234
97,236,150
112,795,345
Live Stock
Head.
1,349,771
1,371,873
1,381,183
Lumber
Feet.l,764,445,495 1,726,944,584 2,292,821,963
Firewood
.Cords.
249,605
249,628
280,878
Manufactured Articles ..Tons.
3,981,888
4,425,241
5,468,548
All other Articles
..Tons.
5,102,116
5,916,248
7,567,052
FREIGHT TRAFFIC.
Year ended June 30th
1908.
1909.
1910.
Number of tons carried.
15,040,325
16,549,616
20,551 368
Number o^tons carried one mile 5,865,089,008 6,372,269,174
7,772,012 635
Earnings per ton per mile
0.75 Cents
0.76 Cents
0 77 Cents
PASSENGER TRAFFIC.
Year ended June 30th
1908.
1909.
1910.
Number of passengers carried..
9,463,179
9,784,450
11 172 8!
Number of passengers carried
’
one mile.
1,052.010,356 1,071,149,528 1,355,266.0)
Earnings per passenger per mile
1.89 Cents
1.88 Cents
l 83 Cen
—
_.
+ 3,446,914
Car
gers
...
Per
Cent.
13.75
9.34
—259,783 13.44
per
+9.62 14.63
of
car
Revenue from passen¬
6,019,779 30
Les3 expended during year Included In expenditure on Capi¬
tal account
ENDED
Amount or
Number.
+ 1,949,021
+ 1,757,676
Year ended
Year ended
June 30 1910. June 30 1909.
Train
passengers
mile
417,179 32
Total Surplus Income June 30th 1910
MONTHS
(Earnings of Lake and River Steamers not Included In this statement.)
—Inc.(+) or Dec.(—).
$3,412,234 54
STATEMENT OF EARNINGS FOR THE YEAR ENDED JUNE 30 1910.
From Passengers
1
$24,812,020 86
LXXXXI
passenger
cts.
Total passenger
earnings per
train
train
mile
$
Total passenger train
earnings per mile of
road
$
Freiaht Traffic—
Tons of revenue freight
2,902.13
carried one mile
'
,824,332 6,210,086,958
Tons of non-rev. freight
carried one mile
1,110,379,421
,379,421
995,000,557
Total tons (all classes)
freight
carried
one
mile
Tons of revenue freight
carried one mile per
mile of road
Tons of non-rev. freight
carried one mile per
mile of road
Total tons (all classes)
freight
+115,378,864 11.60
carried one
of road
mile per mile
>,203,753 7,205,087,515
751,079
637,775
110,172
102,187
861,251
739,962
0.778
0.760
340.25
299.29
49.91
47.95
390.16
847.24
17.46
17.11
+ .35
2.05
2.56
2.74
—.18
6.57
20.02
19.85
+ .17
.86
13.59
13.00
+ .59
4.54
2.65
2.27
+ .38
16.74
5,844.47
4.845.52
+ 998 95
20.62
+ 113,304 17.77
7.81
+ 7,985
+ 121,289 16.39
Average
amount re¬
ceived per ton per
mile
of
revenue
cts.
freight
Average No. of tons of
revenue
2.37
+ .018
freight per
train mile
+ 40.96 13.69
Average No. of tons of
non-rev. freight per
train mile
+ 1.96
4.09
Average No. of tons
(all classes) freight
per
train mile
Average No. of tons of
revenue freight per
loaded car mile
Average No. of tons of
non-rev. freight per
loaded car mile
Average No. of tons of
(all classes) freight
per
loaded car mile.
+42.92 12.36
Freight train earnings
per
mile
loaded
car
cts.
Freight train earnings
per train mile
$
Freight train earnings
per mile of road—$
STATEMENT OF CANADIAN PACIFIC RAILWAY PENSION
DEPARTMENT TO JUNE 30TH 1910.
Balance at June 30th 1909
Amount contributed by Company for year
Amount received as. Interest
$680,317 86
80,000 00
37,675 60
_
.
-
—John T. Steele, investment
banker, Fidelity Building,
Buffalo, is distributing an important circular containing an
analytical study of the financial condition of the United
States during the past decade—1900-1910—with
particular
reference to the bond market.
A number of charts are
furnished showing the average annual prices of
thirty leading
railroad bonds for the ten years, the average annual interest
rate of 90-day money, the average annual and
weekly bank
clearings, the ratio of reserve to deposits and average sur¬
plus, the average monthly movement of money, &c. The
work has been carefully compiled by Arthur
Batty, static
$797,993 46
110,889 20
Payment of Pension Allowances for year
Balance In Cash and Investments
Number on Pension Roll at June 30th
Under 60 years of age
Between 60 and 70 years of age
Over 70 years of age
$687,104 26
1910.
56
222
157
Total
...435
tician for Mr.
Steele, and ought to prove of interest to
or any one having funds for invest¬
ment.
The circular may be had upon application to Mr.
Steele’s statistical department.
bankers, bondholders,
:
—A
,
new co-partnership has been formed under the name
Richmond, Dorrance <fc Coi, with offices at 527 Banigan
Building, Providence, the partners being Gerald M. Rich¬
mond, Herbert L. Dorrance and Walter H. Burnham. The
new firm will buy and sell investment securities and transact
a general brokerage business.
*
of
Sepi\ 17 1910,
THE CHRONICLE
United Fruit Co., Boston.—To Authorize $10,000,000 New
Stock—About $2,350,000 to be Issued Now—10% Extra Cash
Dividend to Pay for Same.—The shareholders will vote
Oct. 14 (1) on increasing the authorized capital stock from
$25,000,000 ($23,474,000 outstanding, all of one class) to
$35,000,000; the new stock to be issued from time to time
as shall be determined
by the board; (2) on offering to stock¬
holders of record of Oct. 24 1910 the right to subscribe at
par for an amount (say, $2,350,000). of the new capital stock
equal to 10% of their respective holdings, subscriptions to
be paid on or before Nov. 4 1910; and the new stock issue
having been authorized, (3), on approving the declaration
of an extra dividend of 10% on the capital
stock, payable
Nov. 4 1910 to stockholders of record at the close of business
Oct. 24 1910.—V. 91, p. 42.
Western Electric (Telephone Manufacturing) Co.—Listed.
—The New York Stock Exchange has listed$8,750,000 first
M.
5% bonds, due 1922 (V. 90,
p.
307).—V. 90,
624.
p.
Western Union
months
Telegraph Co.—-Quarterly Report.—For 3
ending Sept. 30 (partly estimated in 1910):
3 Mos. end
Net
Revenue.
Sept. 30—
Interest
Dividends.
Balance.
Charge.
(%%).
Surplus.
_$2,000,000
$433,062
$747,770
$819,168
1,929,275
433,062
747,492
748,721
Total surplus (estimated) Sept. 30 1910, $20,787,078.
The figures for the quarter to end Sept. 30 (partly
estimated) are made
up on the basis heretofore used and do not allow for depreciation or re¬
construction beyond current expenditures.
The amount necessary to be
set aside for depreciation and reconstruction has not yet been
determined.
1910
1909
No Statement of Actual Earnings for June Quarter.—The
customary statement of actual earnings for the quarter
ending June 30 has been omitted pending the preparation by
chartered accountants of the full balance sheet as of June 30
1910 and of the full annual report to
be presented at the
annual
in
meeting.—V. 90, p. 1558.
(The) Wilkes-Barre (Pa.) Company.—Status.—A circular
proof form (subject to change) contains an official state¬
ment which has been condensed for the “Chronicle”
as
follows:
Abstract of Letter from Vice-President George Bullock, New York,
July 8.
Incorporated In Pennsylvania, a consolidation of the Wilkes-Barre Qas
& Electric Co., Wilkes-Barre Heat,
Light & Motor Co., Anthracite Electric
Light, Heat & Power Co., Standard Electric Co. and Union Light & Power
Co.
It supplies without competition gas, electric
light and steam for heat¬
ing purposes In Wilkes-Barre, Borough of Ashley, Hanover
Township,
contiguous to Wilkes-Barre, Parsons, Miner’s Mills and Plains Township,
serving a population estimated at 100,000. Wilkes-Barre Is the business
centre f>r as
-ndi i ' <> ■» 1 il <n e<tl oat ;d at 2 jU.ooo.
a iialization:
‘First and refunding mortgage” 5% gold bonds:
Authorized,
$7,50o.o00: is* .e i fa-j i t j he iss ied
$2,500,000
[$1,550,000, are Issued In exchange for stocks to be ac¬
quired, and guaranteed principal and Interest by the Sus¬
quehanna Ry., Light & Power Co. by endorsement upon
each bond; of these $1,547,300 are now
outstanding. The
remainder of the $2,056,000 bonds, which are to De sold
later for construction and Improvements, It Is not at
present
contemplated wiU be guaranteed.]
Reserved to retire a like amount of Wilkes-Barre Gas &
Electric
Co. consolidated (now first) mtge. bonds (V.
89,p. 1356)3,000,000
Reserved 11 tue tr *a< r / t > *e iss ed -mder carer 1
restrictions for future extensions, improvements
and betterments, &c_
$2,444,000
Capital stock. Issued and outstanding (par $50)
1,500,000
The majority of the $1,500,000 stock, which is less than the
aggregate of
the stocks of the consolidated
companies, Is owned by the
Ry., Light & Power Co. <See V. 91. p. 653.) Great advantages Susquehanna
are expected
from the active co-operation of the skilled
operating staff or that company.
The gas business was established In
1854, the electric light business in
1880 and the heating business in
1886, and all have shown continuous and
gratifying increase. The new company contemplates the expenditure of
over $400,000,
beginning immediately, for additional equipment and bet¬
terments in the gas, electric-light and
steam-heating
rr *
.
.
departments, in order
to take care of tne increasing
business,thereby increasing future revenues.
The prices charged will be on the demand
basis, fair and reasonable, and
special efforts will be made to increase the demand for
gas, electricity and
heat.
Combined Earnings for Year ended March 31
1910—Estimate for First 12
Months Following Consolidation.
1909-10.
Est. New Co,
Gross.
$520,613
$570,000
Operating expenses, &c
263,459
270,000
„
Net
earnings
$257,154
$300,000
Asa result of the expenditure of
$400,000 within the ensuing two years,
for betterments, extensions and
under
Improvements now
way, from which
as yet no return has been
received, I estimate that the earnings of the new
company for the first 12 months following the consolidation will be as above.
On this basis net earnings
applicable to Interest on the outstanding bonds
will amount to 1 1-3 times the
interest thereon, while accruing net earnings
of the Susquehanna Ry., Light & Power
Co. for the year ended April 30
1910 amounted to about six times the
interest on the $1,550,000 bonds guar¬
anteed by It and to almost one-third the
principal thereof.
be
Property.—The gas works have a capacity of 1,200,000 cu. ft., which will
materially Increased. There are four generators for the manufacture of
water gas; four holders,
aggregate capacity 800,000 cu. ft.,
carburetted
and about 55 miles of mains, with service and
meters to 8,157 customers.
Of these 4,032 customers use not
only light but gas appliances also.
The capacity of the electric
plant, including a recently-Installed 1,500
kilowatt turbo-generator unit of the latest
type, is 3,200 k. w.
The dis¬
tributing system, consisting of about 190 miles of cables,
supplies a total
connected capacity of over 5,000 k. w.,
serving approximately 1,858 cus¬
tomers, Including street lighting, general
lighting, heating appliances and
power, the latter amounting to about 1,800 h.
The two steam heating
p.
plants acquired from the Wilkes-Barre Heat, Light
& Motor
Co., both ad¬
mirably located, will be further augmented; by combllnng these
plants with
theelectrical operation, great economies in
of power are assured.
Franchises are perpetual; gas franchise production
both perpetual and exclusive.
—Attention is called to the offering advertised on another
page by Wm. A. Read & Co. of Canadian Northern Railway
system equipment bonds, the guaranty of that company be¬
ing endorsed on the bonds, which are issued by the Imperial
Rolling Stock Co. The bonds are issued against only 75%
of the cash contract cost of the equipment and have
the ad¬
vantage of a direct first lien on the pledged equipment, in
addition to the deposit of the titles of the rolling stock with
the trustee
ufi^il the payment of the last maturing bonds,
with all accrued interest !
to net
5%!
The bonds
*
offered at
are
-
v,,:
:
a
price
v.t
731
The OPowmrmal Times.
COMMERCIAL EPITOME.
Friday Night, Sept. 16 1910.
Trade continues to keep within conservative bounds.
There is no disposition to discount the future or to
anticipate
needs on
any extended scale.
The reports about the iron
and steel trade are none too favorable.
The outlook for the
crops is, in the main, favorable.
LARD has been dull, owing to scarcity and
high cost.
Prices show a slight reduction.
Prime Western
Middle Western 12.50@12.60c.
12.80c.,
Refined has been dull and
steady.
Refined Continent 13c., South American 13.75c.,
The local speculative market has
There has been fair activity in
Western speculative markets.
Prices eased off, owing to
rather cheaper hogs and the sharp break in
corn.
Brazil in kegs 14.75c.
been quiet and easier.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW
YORK.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
September delivery
12.60
12.75
12.65
12.50
12.50
12.50
January delivery
11.15
11.23
11.00
11.00
11.07
11.05 ]
DAILY CLOSING PRICES OF LARD FUTURES IN
CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
October delivery
12.37^ 12.45
Holi12.30
12.22^12.25
November delivery
11.75
11.80
11.62 ^ 11.62
day.
11.57 H
PORK has been
moderately active, as prices have eased
larger offerings. Mess $23 50@$24, family $25@
$25 50, clear $22 25 @$23 75.
Beef has been strong but
quiet. Supplies are light and demand moderate. Mess
$23 50, packet $17@$17 50, family $19@$19
50, extra
India mess $31.
Cut meats have been in slow demand,
with offerings small. Pickled hams,
regular, 14 J/g@15>£c.,
pickled bellies, clear, 16J^@17c., pickled ribs 17}^@18c.
Tallow has been quiet but firm at 7%c. for
city. Stearines have been dull but steady; oleo
ll@12c., lard 13J^@14c.
Butter has been quiet,
although prices have been shaded,
owing to larger receipts of choice grade; creamery extras
30c.
Cheese has been steady with rather better
trade;State,
whole milk, colored or white, fancy, 15c.
Eggs have been
steady and fairly active; Western firsts 23@24c.
OIL.—Linseed has been strong and in good demand; City,
raw, American seed, $1@$1 01; boiled, $1 01@$1 02; Cal¬
cutta, raw, $1 03. Cottonseed has been steady but in poor
demand; winter 10.35@12c.; summer 10.35@12c. Lard
has been strong and sparingly
offered, owing to scarcity of
raw
material; prime $1@$1 05; No. 1 extra 61@63c.
Cocoanut has been strong on meagre
supplies; Cochin
10^@llc., Ceylon 9^@10c. Olive has advanced to
90@95c. Cod has been active at firm prices; domestic
40@42c., Newfoundland 43@45c.
COFFEE has been strong with activity developing after
a slow start.
The early break in futures caused the tempor¬
ary quietude, while the subsequent animation was due to
active buying in Santos by
leading spot houses. The
strength of primary markets has been the main influence.
Rio No. 7, 10%@llc.; Santos No. 4,
tl%@,H%<s. Local
trade in mild grades has been
fair, but inquiry from the in¬
terior is slow; fair to good Cucuta 11
K@12%c. The specu¬
off under
lative market has been
more
active than for several years
East. After temporary weakness, due to general realizing
ecause of rains in
Brazil, the upward trend was resumed,
and the highest prices reached in six
years were recorded.
The buoyancy was due to the great
strength in Europe and
Brazil and reports of heavy
buying of actual coffee in Santos
by big spot interests.
Closing prices
January __8.55@8.56c. May
February-.8 .55 @8.56c. June
March
8.55 @8.56c. July
April
8.56@8.59c. August
were as
follows:
8.60@8.62c. September. 8.50 @ 8.55c.
October
8.50@8.55c.
8.64 @8.66c. November 8.50@8.65c.
8.65 @ 8.70c. December _8.55@8.60c.
8 .61 @8.63c.
SUGAR.—Raw has been quiet with neither side disposed
push matters. Buyers are indifferent and holders firm
as a rule.
Centrifugal, 96-degrees test, 4.36c.; muscovado,
89-degrees test, 3.86c.; molasses, 89-degrees test, 3.61c.
to
New business has been slow in refined,
old contracts have been better,
owing
from preservers.
Granulated 5.15c.
but withdrawals on
to a good demand
PETROLEUM.—Demand has been fair for export ac¬
light for domestic. Refined, barrels, 7.50c.; bulk
4c., cases 9.90c. Naphtha has been firm, with brisk sea¬
sonable demand; 73 to 76 degrees, in
100-gallon drums,
16%c.; drums $8 50 extra. Gasoline, 86 degrees, in 100gallon drums, 18%c.; drums $8 50 extra.- Turpentine
strong, with better demand; 76c. Rosin firm, ;but selling in
only small lots; $6.20 for common to good strained.
..TOBACCO.—The market has been quiet, with business
in small lots only, as buyers are still
holding off , anticipating
lower prices.
It is known that manufacturers are poorly
supplied, however, and hence a material improvement in the
demand is predicted for the near future. The 1910 Connecti¬
cut broadleaf is
attracting the most attention* and in some
cases packers are
reported as paying record prices of 30 to
40c.
There is still danger of loss from sweating
on account
of the damp weather. Western
reports generally favorable,
barring Wisconsin, where crop failure is generally conceded.
COPPER.—Prices are lower, with offerings larger and
demand slow, especially for domestic account;-lake 12%%
12^c.> electrolytic 12.45@12^c., casting 12^@12^c.
Lead quiet and easier; spot 4%c. Spelter has been mod¬
erately active and higher; spot 5J^@5.60c. Tin has been
more active at lower
levels; spot 35@35.50c, Iron has bad
a more active
inquiry, but actual business has been small.
count but
{Vox,,
THE CHRONICLE
733
Sept. 16 at—
St.
Galveston
Port Arthur—.
Mon.
18,962
14,309
Ger¬
Other
many.
Foreign
Great
Friday Night, September 16 1910.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
169,892 bales, against 95,064 bales last week and 86,130
bales the previous week, making the total receipts since
Sept. 1 1910 292,932 bales, against 437,031 bales for
the same period of 1909, showing a decrease since Sept.
1 1910 of 144,099 bales.
Receipts at—
Shipboard, Not Cleared for—
On
COTTON.
Wed.
29,841
11,066
Total.
Fri.
Thurs.
Tues.
23,370 114,155
16,607
.
_
_
794
794
970
185
CorpusChristi, Ac
Britain. France
New Orleans.
Galveston
Savannah
Charleston
Mobile
Norfolk
New York
Other ports
_
1,059
_
Coastr
wise.
Total.
48
444
75
567
5,478
10,573
5,000
3,00«
35,217
a. 00Q
_
13,107
lxxxsi.
_
412
847
347
318
288
308
1,060
632
686
447
-
-
-
Jacksonville, Ae.
Savannah
Brunswick.
Charleston
25
25
7,497
39,967
5,673
7,639
5,630
5,719
7,809
13G
425
1,279
431
567
950
743
o
218
29
57
72
296
293
726
485
658
219
2,147
1,202
Georgetown
Wilmington
_
Norfolk
N’port News, Ac.
New York
4,209
2,291
-
_
950
_
192
104
-
_
—
—
_
_
^
—
—
301
276
300
Boston
Baltimore
276
Philadelphia
28.349
21,089
The following shows
since Sept. 1 1910, and
35,687 169,892
26,791
19,319
38,657
—
—
—
—
—
Tot. this week
,i> rf15
the week’s total receipts, the total
the stocks to-night, compared with
last year:
1910.
Receipts to
Since Sep
1 1910.
This
week.
Galveston.
Port Arthur
216,903
114,155
....
Since Sep
1 1909.
This
week.
77,068
149,255
3,252
20,625
11,930
1910.
1909.
54,049
88,956
~
Corp. Christ!, Ac.
"794
1,143
"586
New Orleans
Mobile
Pensacola
4,209
2,291
5,460
12,872
6,842
—
3,00*
15,050
2,974
25
25
50
105
39,967
56,826
950
950
74,331
24,500
16,278
151,438
29,855
28,784
Jacksonville, Ac.
Savannah...
Brunswick
Charleston
3,982
3,575
Georgetown
Wilmington
„
Norfolk
^
.....
2,147
1,202
2,177
1,412
j
200
402
355
80,321
20,920
23,590
_
_
.
_
2,234
1,041
6,702
8,873
80,315
1,745
616
68,208
3,089
1,859
2,625
190,736
364.752
185
N’port News, Ac.
New York
Boston
Baltimore
301
276
.
Philadelphia
Total..
27,173
1,938
2,910
26,359
14,405
16,328
9,962
46,203
13,406
—
•
379
300
159
82
172
—
—
169,892
292,932 239,071
691
.
437,031
In order that
we
24,173
2,910
±
Total 1910.
Total 1909.
Total 1908..
17,107
.
22,626
32,607
-
6,826
29,094
32,362
1,559
22,391
28,649
590
_
200
100
500
800
500
3,000
1,000
11,317
20,658
24,675
2,974
.......
451
590
4,200
76,115
1,900
5,324
8,665 45,474
14,250 109,019
6,715 125,008'
145,262
255,733
228,291
Speculation in cotton for future delivery has been very
quiet for the most part, and early in the week prices showed
a declining tendency, owing to dulness of trade and specu¬
lation, favorable crop reports from many sections, some rain
in Texas and a belief among many that the crop estimates
were too low.
Such figures as 11,500,000 to 12,000,000,
which have been mentioned as the possible crop, are re¬
garded by not a few as considerably under the mark. Prices
have latterly risen, however, on more active buying.
Yet
the continued aloofness of spinners from the spot markets,
the fear of a lockout in Lancashire and talk to the effect
that the curtailment policy in this country would be con¬
tinued for some time to come, for a time, with other factors,
militated against a rise of prices.
So did an
that in a short time the movement of the crop
expectation
will consid¬
erably increase and that the effect will be depressing on
prices. The bill-of-lading controversy has again come up,
at least
some
of the London bankers
refusing to accept the
“validation” of the bills by the railroad companies
after
guaranteed by the
as a body adopt this
that they will—the
it will tend to shift
much if not the greater part of the burden of financing the
crop from European to American banks.
It was inferred,
too, that such an attitude might cause a rapid marketing of
the crop between now and Oct. 31, the date named by some
of the London banks as terminating the old method of deal¬
ing with the bills in question. Moreover, it is believed by
some conservative people that the high cost of living must
affect the consumption.
Some leading trade interests have
been good sellers recently of October and December.
The
South has sold to some extent against the actual cotton. The
outside publio has held aloof.
The trading at the Exchange
has on some days dwindled to a mere bagatelle.
On the
other hand, the actual receipts have been disappointingly
Oct. 31 and demanding that they be
American banks.
If the London banks
attitude—it seems not altogether clear
inference generally drawn here is that
Stock.
1909.
14,483
18,832
—
.
. 5881180.
New Orleans.--.
Mobile
Pensacola
Leaving
Stock.
comparison may be made with other years,
give below the totals at leading ports for six seasons:
small.
The stock here of certificated cotton has fallen to less
than 50,000 bales.
There were rumors at one time of a pos¬
sible squeeze in September, at home and abroad, especially
in Liverpool.
A tropical storm for a time threatened the
Gulf States, particularly Texas.
A cloud-burst was re¬
of
ported in one section of Texas. Spinners have latterly
bought fall months here more freely. On Thursday prices
suddenly ran up 15 to 19 points ou most months on a sudden
alarm among the shorts, due to small receipts, very heavy
rains in parts of Texas, the steadily dwindling stocks here,
and last, but far from least, a sharp demand from Liverpool
straddlers and some well-known spot interests. The snort
side had apparently become somewhat inflated, considering
the narrowness of the market.
To-day prices again ad¬
vanced, owing partly to a bullish private crop report. Shorts
covered freely and prominent interests were also buying.
It was said, too, in a London dispatch, that bankers there,
owing to a refusal of the American banks to guarantee bills of
lading, will reconsider the subject at their meeting next
Thursday. This also caused buying. Spot cotton has de¬
1* from—
ports of large sales, and middling uplands closed at 13.90c.,
advancing 10 points on Friday.
The rates on and off middling, as established Sept. 14 1910
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Receipts at—
1909.
1910.
Galveston
Pt. Arthur, Ae.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, Ae
—
114,155
77,068
794
686
4,209
12,872
1908.
1906.
1907.
92,441
17,621
7,005
58,750
2,127
1905.
49,930
81,125
994
628
82,406
789
29,141
5,722
7,629
9,807
5,124
12,124
9,363
76,646
5,923
14,659
17,391
23,266
114
199
1,427
2,291
6,842
39,967
3,575
2,147
1,202
74,331
24,500
16,278
16,328
9,962
602
304
1,144
7,244
8,091
57,185
3,698
8,127
15,218
6,155
176
1,050
Total this wk_
169,8 2
239,071
213.992
152,868
186,845
244.124
Since Sept. 1-
292,982
437,031
395,157
293,063
399,427
631,313
Wilmington.Norfolk
950
10,124
16,518
8,052
210
N’port N., Ac
All others
46,869
487
130
The
exports for the week ending this evening reach a total
137,489 bales, of which 55,689 were to Great Britain,
19,058 to France and 62,742 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910:
Week ending Sept. 16 1910.
Exported to—
Export8
From
Sept. 1 1910 to Sept. 16 1910.
Exported to—
Groat |
Conti’ I
Britain. Frnco. nmt.
Total.
Great
Britian. France.
29.91618.631 35,472, 83,911
43,084 18,624
73,393
135.101
"627
T, 965
"9‘,788
Galveston
Port Arthur...
....
Corp.Chr]s.,At.
New Orleans.
Mobile
Pensacola ___J
Fernandina
Savannah
Brunswick
Charleston
537
_
1.901
2,42!
“V.296
Continent.
Total.
-----
3,465
....
"3,515
3,46
550
550
'3*515
550
Norfolk
Newport News
New York....
Boston
Baltimore
36.637
Philadelphia..
300
16,802 42.32
397
46
3,766
39
3.80
Portland, Me..
San Francisoo.
Seattle
Fair
.c.1.50 on
Strict mid. fair
1.30 on
Middling fair
1.10 on
Strict good mid_ .. .0.66 on
Good middling....0.44 on
Strict middling
0 22 on
The official
c. BasislGood mid. tinged _c Even
(Strict low. mid
0.25 off( Strict mid. tinged..0.15 off
(Low middling.,...0.60 off [Middling tinged...0.25 off
[Strict good ord
1.05 off [Strict low.Mid.ting.0.60 off
(Middling
1.75 off [Low mid. tinged...1.50 off
(Strict g'd mid. tgd.0.35 on [Middling stained...0.76 off
[Good ordinary
quotation for middling upland cotton in the
for the past week has been:
New York market each day
Sept. 10 to Sept. 16—
Middling uplands...
Sat.
14.00
300
100
41,660 14497
16
46
200
•
.....
221589
78~446
609
625
5,905
5,951
200
——
_
.
.
.
.
Tacoma
1,100
1,100
200
200
1910.0...,-13.90 1902.0
1909,.
12.80 1901..
1908
9.50 1900
1907
1906
.-.12.20 1899
1906
1904
1903
1897
9.80
10.76
10.90
11.75
Tues.
1U5
Mon.
13.90
NEW YORK QUOTATIONS
WUmlngton...
....
clined, the lower prices being attended, however, with re¬
Wad. Thurs. Fri.
13.76 13.80 13.90
FOR 32 YEARS.
8.94 1894.c
6,88 1886.0
8.25 1893...8.44
7.19 1884
,10.88 1892
-
6.38 1891
5.69 1890
1898
1896
7.12 1889
8.76 1888
1895
8.12 1887
8.50 1883
10.62 1882
,..11.38 1881
10.50
10.33
...12.68
12.12
10-44
9.81
9.31
10.06
1879
11.88
12.19
MARKET AND SALES AT NEW YORK.
Portland. Ore.
Pembina
Detroit
Futures
Market
Closed.
.....
Spot Market
Closed.
Total
frotal
1969
66,68919,058 63,742137.41
66,302 33,348
115.828
235,476
37,7751 9,897109,614147,2f
41.870 25,204
154,451
221,526
In addition to above exports, our telegrams
to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New Yerk.
Sales of Spot and Contract.
Con-
Spot. sum'n
Saturday. Quiet
Monday— Quiet 10 pts decQuiet 5 ptsdec
Tuesday
Wednesday Quiet 10 pts dec-.-r
Quiet 5 nts adv
Thursday
Quiet IQ pts adv-..
Friday..
.
Total
—
Barely st’dy.
Quiet
Steady
Barely steady
Barely steady
Steady
3,317
Con¬
tract.
Total.
3,317
9,781
9,781
7,580
2.655
743
2,665
742
28.975
23.705
7,530
Sep*, li
1914.J
THE CHRONICLE
FUTURES.—The highest, lowest and closing prices at
week have been as follows:
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.
New York the past
£
£
Q»Iq«S9» T92?9»?9g?9g|9g?
g§Ts§TsS Ig§ISSISS)85?SbI
?s fa fa
=a l fa
^
fa P'P
^
©
i
f»©
M*
MAMA
MOD
M
MM
1®
|
l©
MA
HAM*
eo
MM
t-tk*
If |
h
J-*M*
|f
1
f»f»
M
f
Mm
j®
t-k
f
MW
sr
©f
»-»i
1—
MM
M
ob
o
1
<51
1
*—
I|
o
.
-
M«
1 1
I
1
I 1
|©
1
|
1 1
1
I
1 |
.
T©
b
T©
f©
M* H*
M*
MM
to
bb
©
t
MA H*
f
[4
MM
to
f
bb
M
©M
t»
|©
1
f
islOD
CM©
WH
O0M
tO CM
UM
M
MM
MM
MM
M Co
oeo
©
fj
to to
to to
to
to to
os m
WO
SIH
H
©Of
©CO
I©
I©
(OH
MM
MM
MM
COM
M
1
M
©b
^90
to I
to
MM
f*
1
M M
M
1
bb
b
00©
M
1
HA H*
HA HA
HA HA
HA ha
MM
MM
MM
MM
MM
bb
M©
1
IkM
©©
|@
|®
|®
T®
MA
MAM*
MA
MAMA
HA HA
M
MM
M
MM
MM
bb
§2
G»6s«
1®
M
boo
ob
b
f*
00
1®
08 MA
1®
1
j
1®
M*ha
M*M*
MM
MM
if b
biu
f1
1®
HA
MA HA
MM
COCO
MM
M
MM
MM
M
MM
MM
MM
iff*
©O
©f
If t\9
bb
H
II
1
Oi
Ma»
•O MA
MAM*
MAMA
ham*
If
MM
MM
MM
MM
to
M*ma
f*
©
©
00 If
f©
+ to
if
as.
1©
1®
MAMA
MM
MM
MM
MM
4*0*
HM
MAIM
|©
\®
If
IS II
s
I© [@
«M
15
I®
*f
OfU
M W
HA HA
MAMA
MM
MM
M*
Mf*
a*
fib
M iU
MO
t
1
MAMA
TS
M*M*
HA HA
Hif
MAMA
HH
MM
MM
MM
MM
MAMA
— M
HA HA
MM
®
f| f|
M 09
o>©
Oooo
CXO
MM
15
15
15
—
1®
b
IS M
SI
©w
MM
j®
|@
15 I
I©
I® ®®
IS IS
IS
IS
IS
CM © M © ft
Total Continental stocksTotal 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.
w
i
I
j@
I©
IS I
ft
Oo
CM
Manchester stock
Continental stock
American afloat for Europe
U. S. port stocks
U. S. Interior stocks.
U, S. exports to-day
.....
as
776,000
12,000
78.000
125,000
3,000
16,000
10,000
4,000
338,000
25,000
706,000
117,000
55,000
4,000
15,000
8,000
32.000
87,000
84,000
4,000
1807.
627,000
28,000
51,000
20,000
14,000
22,000
256,000
278,000
430,000 1,025,000
71,000
44,000
215,088
212,460
23,000
18,000
34,000
41,000
358,000
147,000
180.73 6
364,752
76,865
137,870
47,740
15,748
585,000
885,000
118,000
103,188
18,000
24,000
457,000
Total American
56,000
186.231
11,000
52,000
350,000
353,288
162,428
17,050
367,165
113,680
41,461
Liverpool stock
78.000
...
Egypt, Brazil, &c.,afloat
Stook In
212,460
205,000
22,000
177,000
106,231
353.208
162,420
17,050
518,000
43,000
170,000
103.100
367,165
113,680
41,461
836.530 1,614,830 1433,000 1,365.505
East Indian, Brazil, As.—
London stock
Manchester stock
Continental stock
India afloat for Europe
364,752
137,070
15,748
215,088
Alexandria, Egypt.....
Stock In Bombay. India..—....
Total East India, As
Total American
6.000
4,000
36,000
71,000
23.000
34,000
358,000
-
02.000
8,000
11,000
30,000
44,000
18,000
41,000
147,000
82,000
12,000
8,000
70,000
56,000
11,000
52,000
350,000
108,000
28,000
8,000
100.000
118,000
18,000
24.000
457,000
610.000
302,000. 660,000
863.000
836,530 1,614,830 1,133,008 1,365,505
——
tjMMfmm
ft
•
ft
cobeoo
ft
m©fti
OMMOMOOOtlMi
Of OOM©NQf Ofljf OWMCnCif QOMifci
Co
Oi
MOtft
omo
MMf
oo ft
sll
**§
ft
WMffff
MfrOM
©CXCXMO*
*■* ft ft © CM ft CM ft
HO* ft
>•*©©«
O«4»0i<tatl«OO»9IN-4Mai*»OOSl*MN*t
J
tlMOiMajOOMfOBfMOMOCT-jOfOMMBQl
© O* © M
M[
tltltlff Mf
O0*«k»Ol
ftQkfte*©
©MfOiiti
Mftfioqu
<to©MoeioooMC*ffe*e»oc*9oio©ffei)(
f>iai*ioaos«4ai«ioooifoi0iooeoo»o»oi
fMCtMMf Of W»*NOlNNf<t^oif
Total visible supply
....1,446,530 2,006.830 1,783,000 2,228.505
Middling Upland. Liverpool
7.88d.
6.03d,
5.54d.
6.01d.
Middling Upland. NeW York13.00c.
12.70c.
0.50c.
12.25c.
Egypt, Good Brown, Liverpool—13 0-16d. 10 l-16d.
6 Hd.
10 «d.
Peruvian, Rough Good, Liverpool 10.75d.
8,35d.
8.40d.
I2.00d.
Broach, Fine, Liverpool
7Hd.
6^d. 4 15-16d.
6 3-16d.
Tlnnevelly. Good, Liverpool
7 1-16d.
6 l-16d. 4 ll-16d.
5Kd.
©ft©
ft
MM ft
ft
©MM©© ©I
CO £. © SO CM CO I
CXCXHMCXiUi
I
I
f»
Mfl«OMl
Mf|©Q©i
I
OfPWOtlOOfQWfOOOOOOi*.
ft
© ©ft M ft ft
©
«»«MOl
O
f* ft M® ft©© Ct**M ft © ft ©
MM
-I M© © M -1M © © ©CX ©M HCX MCXWf*
_
©ftWMft
f*
rft
f*
Mf
__
f>MMMM
OOOOOOOMIte
f ©O©O*IC0f *1
OIUOOCMOtlOM©
OWMMMOOOOO»CiOSi(tOMitt^'Jf OJOMitk^NOOMff OCT
M *1 CM © © © © *t © *| CM « M M © © © to © ©o M ©MM « O ©
—'M «R M
The above totals show that the interior stocks have in¬
creased during the week 15,959 bales and are to-night 61,005
bales less than at the same time last year. The
receipts
at all the towns have been 12,591 bales less than the same
week last year.
OVERLAND MOVEMENT FOR THB WEEK, AND
SINCE SEPT. I.*—We give below a statement
showing
the overland movement for the week Mid 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:
1910
September 16—
38,000
248,000
100,736
76,065
47.740
tift^j
HClfllM^OUtNMOM
M *. ©
1
©
1808.
630.000
35.000
210.000
ft
HCXMM
287,000
12,000
30,000
108,000
16,000
02,000
t*
1-tCM
*
Week.
Via St. Louis
Via Cairo
Via Rock Island
_
Sept, l.
2.057
1.012
777
460
-
_
Via Louisville
1008—
Set*. 1.
1,029
2,279
165
26
154
158
1,167
242
1,038
6281
Total gross overland
Deduct shipments—
Overland to N. Y., Boston, &c
Between interior towns
Week.
100
489
165
170
508
Via Cincinnati.
Via Virginia points
Via other routes, &c
678
682K
956
1,641
6.926
3.866
6,702
577
113
621
•57
259
•54
106
627
888
2.816
1,551
Total to be deducted
1,311
4.036
687
2.668
Leaving total net overland*
1,397
1,666
M76
4,034
*
Continental imports for the past week have been 38 >000
figures for 1910 show an increase over last week
of 22,302 bales, a loss of 560,4(X) bales from 1909, a de¬
crease of 346,479 bales from
1908, and a decline of 781,975
bales from 1907.
1
279
Including movement by rail to Canada.
The foregoing shows the week's net •▼•rland movement
has been 1,397 bales, against 1,979 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 2,149 bales.
1810
In Sight and Spinners'
Takings.
Week.
Receipts at ports to Sept. 16
168,882
Net overland to Sept. 16
1,307
Southern consumption to Sept. 16 30.000
Total marketed
Interior stocks In excess
—.
Came into sight during week
Toted in sight Sept.
Sei' 16.
—
1808
Since
..
.201,289
15,959
Since
Sept.
282,032
.
1,885
67,000
>
230,071
1,870
62,000
361,817 283,050
26,187
31,101
217,248
North’n Bplnn’s takings to Sept. 16 36,859
Week.
Movement into
Week—
1908—Sept.
1907—Sept.
1906—Sept.
1805—Sept.
sight in previous
Sept. 1.
437.031
4,034
130.000
571,065
54,807
224,151
388.004
68,473
625,872
ii.ui
42,026
—
bales.
The above
137
382
198
898
2,708
Inland, Ac., from South
American—
bales.
M ft OO
ftbftwbb©M-«i©
CO
CO
Total visible supply.....
1,446,530 2,006,030 1,783,008 2,228.505
Of the above, totals oi American and other descriptions are as follows:
Liverpool stock
M
00 Co
it-.
M
1808.
128.000
.
H ft © H CM 001
iltUMf ©OI
Qtft©t|ftiUi
•
722,000
8,000
46,000
45,000
51.000
1,000
11,000
4,000
4,000
ft
ft
ft
e'Oife-oe©iUaofte«ftft,tk.e'i-*Mf‘0'«*Mfe«*t
0M0 0a»0itte«c*t4f oittooi^o^tistof e»ooioae«oaiiM«*oi
QglOOQMf *tOg>Ov|tlP»ltiOOPag.tt)«Jf f Qf
o
1810.
302,000
11,000
ft
5
MO©
©fio*fiMWOoex
276,000
6,000
20 000
Total Great Britain stock
Stock at Hamburg:
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
MO* ft
•f f
eoftftcNWflD-acicscMcoooftowcMOoooeMrfki
•
f*<3»W©©f|i
Ss
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¬
ures for to-night
(Friday), we add the item of exports
from the United States, including in it the
exports of Friday
only.
bales.
ft*
mom^mmo)
MMO
ft©
mw.um®co*t.©*.on
ft © ft© m ft m ©
©>U©OOtCO'
Foreign
September 10—
ft
bb-lMrftiUi
THE VISIBLB SUPPLY OF COTTON to-night,
made up by cable and telegraph, is as follows.
Stock at Liverpool
Stock at London
Stock at Manchester
ft©
CM M ft ft ft M
M Co
j©
©
j©
*)m
oo.mweooteoooo
0*.©O*©f|M»©O»»© MOOf* W W
NUOOMNOJt»Ot»*tf WMf WeM'lOCMittf
Co
HAMA
M
osf*M
©woooomi
o«ooqoi
ftboobbb
*
1®
MA M*
MM
II
OM
MA
** fi
MMH
]
bftboB«ftO»)
*
(UOo
fi
Jf c
M«S
o^m
bb
f
1®
cxb
OCX
MM
>U
MM
oo
©M
MM
MA HA
toot
MM
bb
MM
i© T®
HA HA
M*M*
toeo
II
M4 ma
(
M*MA
MM
d
Oi
|
MM
11
b
fl©
M
to
|©
M
bo
MOD
>f
MM
i®
MM
b©
MM
©
Mk
n
MM
MM
1
|®
M*
HA HA
■2 e
00M
M* M*
MOO
f>
SI
iuiu
©Gt
1® T®
1
1 ®
T®
15
bb
M
1
I
MM
CnU
MAMA
1®
w
ob
*)M
II
AM
|
|
b |
its- 1
11
i}
M
1©
b
bb
!@
©oo
|@
MM
M
*.©
MM
cx
MM
MM
bb
M*
ivl
if
HA »-A
MM
f|
MAM*
OS
Of!
SI
HA
to
©b
HA H*
OtCM
f— pmO
M©
1©
too
M
1—*
ob
MM
1©
©O
.P£L? 3
1©
m ma
M
j i
11
If©
1
1
MM
b
COM
1
I©
M
M*M*
MM
1 1
M -vl
M*
st
1
|
©
M* M4
to
M
CM
OO
WM
MM
s§ s?
©f»
MM
M©
t-
OO
MM
Mm*
M* ha
1
1 1
OO
©O
MfJ
M*
|
b©
i© 1©
<®
1
MM
© I
r®
«p«
1
i i
bb
MM
1® T© T©
MM
MM
1®
11
MM
1© T©
M*hA
MM
1
tr
If* -a
M*HA
MM
00 O
Oi M
MM
f
©f*
O®
■q«
MM
b
MM
|@
|@
MM
r- i—
SI
SI
»-k
| ©
HA 1-4
MM
MM
«u
1©
©
H©
oq
MM
MM
M*
©f
J®
O©
00
1
1
M
I©
O©
fIM
©©
*5
f
M*
Co®
1
M
M
1
©
<rq
MM
tf
|1
M
|
1 1
oq
MM
HA,-k
|
|©
I
©O
{
©
1|
MM
M
►f©
Mf|
t
►AM*
b
1®
1
M
1-4
M
M
1
1
ha
"V) l—*
MM
CX<f
1
oq
M* M*
MM
j®
1©
T« T@
M
1 1
uq
I
i
oo
f* f»
1
1
0. -4
ft
I
1
|@
COW
M
1®
1
eo
b
1 |
l
f»
CSC*
vU M
I®
M* *-*
COM
HA HA
735
years:
Since Sep*, t—
Bates.
18——
———286,428 1908—Sept. 18
20—-———215,911 1907—Sept. 20
21
258,300 1006—Sept. II
22
328,861 1905—Sept. 22—
Bales,
848,971
—
490,235
—597,229
.264.227
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.—Below are the closing quotations of middling
cotton at Southern and other printipai totton markets for
each day of the week.
c
<4
a trace Of rain on
day of the week. The thermometer has averaged 81,
ranging from 70 to 93.
Eldorado, Arkansas.—We have had rain on two days
during the week, the rainfall being ten hundredths of an inch.
The thermometer has ranged from 59 to 94, averaging 77.
Helena, Arkansas.—Cotton is shedding and gardens are
suffering for rain. There has been no rain the past week.
The thermometer has averaged 73, the highest being 91
Mobile
Savannah
Charleston
*13
13**
**
113 **
13**
13**
13**
13**
13
j 13
13
13 J*
13 1-16
13 J*
13 5-16
113 5-16
13**
13**
13**
14**
13**
13**
13**
13**
13 1-16
13 5-16
13**
13**
13**
14.00
13 5-16
14
14.05
13 5-16
14
14.15
13 5-16
13**
13**
13**
12**
13**
13**
13**
12 J*
13**
13**
13**
12**
13 **
13 **
13
13 **
13**
13**
13**
13**
113 5-16
13 5-16
Wilmington
13 **
14 **
14.25
13 **
13 **
13 H
13 7-16
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
...
St. Louis
Houston
Little Rock
12**
13**
14>*
14.15
13**
13**
13?*
13**
'12 J*
(13 **
j14}*
14.10
j 13
**
llfr **
!l3 **
|13**
12**
13**
and the lowest 57.
Little Rock, Arkansas.—Dry all the week.
The ther¬
mometer has averaged 77, the highest being 91 and the low¬
est 62.
f,
Columbus, Mississippi.—No rain the past week.
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:
'•
’
Range
Closing
—
Memphis, Tennessee.—Cotton is opening, but picking and
marketing are slow on account of the late season. The
@ .25 13.20- .26 13.21-.25 13.15-.18 13.20-.30 13.31-.42
13.25- .30 13.25 — 13.15.17 13.27 —- 13.41-.43
12.92-. 00 12.86-.97 12.85-.92 12.82-.91 12.82-.98 12.96-.06
12.92-.93 12.90-.91 12.91-.92 12.83-.84 12.96-.97 13.05-.06
Range
Closing
November—
Range
Closing
—
@
—
—
@ .85 12.84- .85
—
@
—
—
@
@
—
—
—
12.88-.90 12.84-.86 12.83-.85 12.79-.81 12.86-.88 13.06-.07
December—
12.92-.00 12.85-.96 12.85-.91 12.80-.87 12.88-.95 12.90-.02
12.92-.93 12.90-.91 12.89-.90 12.80-.81 12.92-.93 13.01-.02
Range
Closing
January—
12.96-.05 12.80-.00 12.90-.97 12.85-.92 12.82-.01 12.99-.07
12.96-. 97 12.95-.96 12.94-.95 12.85-.86 12.97-.98 13.06-.07
Range
Closing
February—
Range
—
Closing
..
March—
[13.01-.03
@
-
—
@
—
—
@
—
—
@
—
—
@
—
13.00-.01 12.99-.01 12.90.92 13.02-.04 13.11-.13
13.11-.1S 13.03-.12 13.03-.10 12.99.05 12.96-.14 13.10.21
13.10-.il 13.07-.08 13.08-.09 12.98-.99 13.10.12 13.20.21
Range
Closing-.
May—
13.22-.25 13.20-.22 13.15-.16
@ — 13.08-.20 13.28.31
13.21-.22 13.19-.20 13.20-.21 13.10-.il 13.20-.21 13.31-.32
Range
Closing.
—
Tone—
«.
—
Steady.
Steady.
Quiet.
Steady.
Easy.
Steady.
Steady.
Very st’y Barely st Steady.
Steady.
Firm.
WEATHER REPORTS BY TELEGRAPH.—Our tele¬
graphic reports this evening from the South are on the whole
satisfactory. They denote that quite generally the weather
has been favorable during the week and that in consequence
picking of cotton has made good progress. There have
been further rains in a number of sections of Texas.
Galveston, Texas.—Picking is becoming general. We have
of the week, the rainfall being three
had rain on six days
inches and eighteen
hundredths. The thermometer has
ranged from 72 to 90, averaging 81.
Abilene, Texas.—There has been light rain on two days
during the week, the precipitation being fifteen hundredths of
an inch.
Average thermometer 79, highest 96 and lowest 62.
Brenham, Texas.—We have had rain on five days of the
week, the rainfall being one inch and thirty-three hun¬
dredths.
The thermometer has averaged 79, the highest
being 97 and the lowest 61.
Cuero, Texas.—There has been rain on five days of the
week, the rainfall being one inch and seventeen hundredths.
The thermometer has averaged 85, ranging from 68 to 102.
Dallas, Texas— Dry all the week. The thermometer has
ranged from 65 to 98, averaging 82.
Henrietta, Texas.—No rain the past week. Average
thermometer 80, highest 100, lowest 60.
Huntsville, Texas.—It has rained on two days of the week,
the rainfall being one inch and twenty hundredths.
The
thermometer has averaged 77, the highest being 92 and the
lowest 61
and lowest 61.
1. 13.20-.25
October—
Spot
Options
Vicksburg, Mississippi.—There has been rain on three days
during the week, the precipitation being thirty-two hun¬
dredths of an inch.
Average thermometer 79, highest 91
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Sept. 10. Sept. 12. Sept. 13. Sept. 14. Sept. 15. Sept. 16.
September—
*
Longview, Texas.—Rain has fallen on one day during the
week, the rainfall reaching seven hundredths of an inch.
Average thermometer 80, highest 96 and lowest 64.
Luling, Texas.—Rain has fallen on three days during the
week, to the extent of one inch and seventy hundredths.
The thermometer has averaged 83, the highest being 99 and
.
the lowest 67.
.
week’s rainfall has been one hundredth of an inch on one
The thermometer has averaged 75.8, the highest being
and the lowest 60.8.
Nacogdoches, Texas.—It has been dry all the week. The
averaged 81, ranging from 66 to 96.
Palestine, Texas.—There has been rain on one day during
the week to the extent of twenty-two hundredths of an inch.
The thermometer has ranged from 66 to 96, averaging 81.
Taylor, Texas.—There has been rain on four days during
the week, the precipitation being fifty-one hundredths of an
The thermometer has averaged 82, ranging from 66
inch.
Nashville, Tennessee.—Crop is late, but picking will begin
There has been no rain during the week.
The
thermometer has averaged 79, ranging from 55 to 93.
Mobile, Alabama.—Rain in the interior early part of the
week, but fair and warm the latter portion. Cotton picking
makes good progress.
Condition is reported spotted. There
has been rain on three days during the week, the rainfall
being twenty-seven hundredths of an inch. The thermom¬
eter has raDged from 70 to 93, averaging 81.
Montgomery, Alabama.—Rainfall for the week one inch
and five hundredths, on two days.
Average thermometer
79, highest 94, lowest 68.
Selma, Alabama.—We have had rain on one day of the
week, the precipitation reaching eighty-eight hundredths
of an inch.
The thermometer has averaged 80, the highest
bepig 93 and the lowest 67.
^Madison, Florida.—We have had rain on two days of the
week, the rainfall being fifty hundredths of an inch. The
thermometer has averaged 81, the highest being 92 and
the lowest 70.
Atlanta, Georgia.—There has been no rain during the week.
averaged 75, the highest being 90
The thermometer has
and the lowest 59.
Augusta, Georgia.—The week’s rainfall has been one inch
thirty-five hundredths, on one day. The thermometer
averaged 76, ranging from 62 to 90.
Savannah, Georgia.—We have had rain on five, days of the
week, the rainfall being two inches and eighteen hundredths.
The thermometer has averaged 77, the highest being 89 and
and
has
the lowest 68.
Charleston, South Carolina.—We have had rain on four
days of the week, the rainfall being ninety-seven hundredths
of an inch.
The thermometer has averaged 78, the highest
being 88 and the. lowest 69.
Greenville, South Carolina.—There has been rain on one
day of the past week, the rainfall being twenty hundredths
of an inch.
The thermometer has averaged 71, ranging
from 55 to 87.
Charlotte, North Carolina.—There has been rain on three
days during the week, to the extent of ninety-six hundredths
of an inch.
The thermometer has averaged 72, ranging from
51 to 87.
Raleigh, North Carolina.—It has rained on three days
during the week, the rainfall being thirty-eight hundredths
of an inch.
The thermometer has averaged 71, ranging
from 52 to 90.
INDIA COTTON MOVEMENT FROM ALL PORTS.
Weatherford, Texas.—There has been
rain the past week.
The thermometer has averaged 80, ranging from 65 to 94.
Ardmore, Oklahoma .—Rain has fallen on one day of the
week, to the extent of eighteen hundredths of an inch. The
thermometer has ranged from 60 to 98, averaging 79.
H Marlow, Oklahoma.—We have had no rain the past week.
The thermometer has averaged 74, highest being 93 and the
,
lowest 55.
no
4,000
Bombay
Sept. 1.
10,000
Week.
Sept. 1.
3,000
1,000
from—
Great
Britain.
Continent.
Bombay—
1910
1909
1908
4,000
7,000
3,000
....
....
....
Calcutta—
1910
1909
1908
Madras—
1910
1909
1908
All Others—
1910
1909
1908
1,000
1,000
2,000
....
....
....
....
1,000
1,000
2,000
5,000
9,000
4,000
1,000
Japan
Total.
28,000
13,000
19,000
7,000
1,000
4,000
2,000
2,000
3.000
2,000
2,000
3,000
-
—
....
Sept. 1.
]<fc China.
15,000
1,000
....
1
21,000i
11,000!
1,000
1,000
....
....
1,000
3,000
Week.
Since September 1.
For the Week.
Exports
Great
Conti- Japan I
Britain, nent. dcChinav Total.
Since
Since
Since
Week.
1908.
1909.
1910.
September 15.
b
to 98.
day.
91.9
next week.
Receipts at—
thermometer has
The
thermometer has averaged 79, ranging from 60 to 97.
■
Galveston
New Orleans
one
Monday.' Tuesday. Wed'day. Thursd’y. Friday.
Sat'day.
Sept. 16.
LXXXXI.
Shreveport, Louisiana.—We have had
Closing Quotations for Middling Cotton on—
Week ending
•
[VOL.
THE CHRONICLE
734
1,000
2,000
2,000
1,000
3,000
2,000
1,000
8,000
13,000
16,000
8.000
12,000
1,000
15,000)
1,000
Alexandria, Louisiana.—We have had rain on one day
during the week, the rainfall being twenty-three hundredths Total all—
39,000
1910....
7,000
7.000
of an inch.
The thermometer has ranged from 59 to 98,
31,000
1909
2,000
27,000|
2,000
1,000 10,000
40,000
averaging 79.
35,000*
5,000
1908
10,000! 4,0001
New Orleans, Louisiana.—We have had rain on five days
of the week, the rainfall being two inches and eighty hun¬
FALL RIVER .MILL DIVIDENDS—On page 692 will
dredths.
The thermometer has averaged 81, highest being be found the statement of Fall River mill divednds for the
92 and the lowest 70.
v
.v
third quarter and nine months of 1910.
....
......
32,OoJ
....
.
’
....
Sept. 17
1910.]
THE CHRONICLE
WORLD’S SUPPLY AND TAKINGS OF COTTON.
1910.
Week.
_
1909.
Season.
Visible supply Sept. 9—
1,424,228
Visible supply Sept. 1
American in sight to Sept, 16—
217,248
Bombay receipts to Sept. 15—
4,000
Other India shlp’ts to Sept. 15.
3,000
Alcxandrla receipts to Sept. 14.
5,000
Other supply to Sept. 14.a
2,000
Week.
1,495,514
388,004
10,000
11,000
for
1,931,022
625,872
324,151
1,000
10,000
3,000
2,000
6,000
5,000
1,655,476
Season.
1,904,553
—
supply
Sept. 16..
1,446,530
!9!0.
18,000
4,000
5,000
32s
Total takings to Sept. 16.
Of which American
Of which other
208.946
152.946
56,000
_
—
Embraces receipts In
468.988
Cop
2,586,894
182.774
55,000
5
12
19
26
Continent.
Total.
•
For 1909-10.
Takings by spinners
Average weight of bales
Takings In pounds—
.bales
lbs.
2,958,000
5,320,000
487
8,278,000
467
474.1
1,440,546,000 2,484,440,000 3,924,986,000
For 1908-09.
Takings by spinners
Average weight of bales
Takings In pounds
bales
lbs.
3,311,000
5,742,000
508
d.
8.
9,053,000
484
492.8
1,681,988,000 2,779,128,000 4,461,116,000
2
9
16
@
11?*
5
6
10 Vn
io?*
@
11?*
11H
11?*
11?*
5
5
5
5
6
10?*
@
@*
@
10?*
@
10 ?*
11?* 5
@
@
11?* 5
11?* 5
10?*
Spinners’ stock October
Takings to September 1
Supply
Consumption,
Great
Conti¬
Brit'n.
nent.
234
@10 7
8.16 9H
@
@10 7
6
@10 7?*
6
@10 7?*
6?*@10 8
@
8.31 9
@
8.26 9H
@
8.14 9 3-16 @
6
7.97 9 5-16 @
@10 8
5?*@10 7?*
6
@10 7?*
LIVERPOOL.—The
48 weeks
The tone of the
Great - Conti¬
Brit'n. nent.
Total.
Market,
Total.
2,881
3,364
1,046
5,558
3,115
2,955
6,187
5,040
9,302
7,995
3,672
3,470
6,604 10,276
5,280 8,760
160
1,147
1,307
202
308
1,354
8,922
1,324
1,526
"
-
J
.
65
65
65
65
65
65
65
65
65
55
55
105
105
105
105
105
105
105
105
105
105
105
170
170
170
170
170
170
170
170
170
160
*30
60
78
80
80
80
80
80
80
a80
a80
160
110
110
110
110
110
110
110
110
110
no
no
140
170
188
190
190
190
190
190
190
190
190
*
Small consumption due to lockout In
Lancashire.
a The
average weekly
Is as given by Mr. Ellison;
from month’s total beingconsumption
deduction
made on account of short time.
ALEXANDRIA RECEIPTS AND
SHIPMENTS.
1
Alexandria, Egypt,
September 14.
9%
9H
1910.
1909.
40,000
50,000
__
Since Sept. 1
•
1908.
26,000
32,000
9H 4
10
America
Total exports
Note.—A cantar Is 99 lbs.
12,000
19,400
This
Since
Week. Sept. 1.
3,750
5.250
3,250
1,000
3.250
1,000
3,000
8,000
9,500
3,000
This
6.69
6.72
6.67
0.73^
5
6
6
6.88
6.83^
6.93
0
1
1?*@9
Sept. 9.
52,000
1,000
1,000
6,000
5,000
41,000
1,000
299,000
216,000
30,000
23,000
67,000
41,000
29,000
18,000
54,000
33,000
follows:
1,00018,000
4,000
48,000
276,000'
198,000
1,000
62,000
244,000
Liverpool market
Sept. 1624,000
44,000
39,000
331,000
the
<3 9
stocks, &c.:
Sept. 2.
48,000
~
@9
29,000
23,000'
10j,000
74,000'
■
for spots and futures
daily closing prices of
1
)
J
12:15
P. M.
Monday.
Tuesday.
Irregular.
Irregular.
Irregular.
Mld.Upl’ds
8.25
8.22
.....
3,000
Spec.&exp.
6,000
100
300
Sales
Futures. 1
Market
)
opened
J
Market
4
P. M.
The
Steady at
2?*@5
pts. adv.
Quiet at
2@5 pts.
delclne.
•:
2,750
1,750
7.250
1,500
3,750
1,750
750
7,750
400
900
3,650
12,400
—
12,500
Egyptian bales weigh about
returns,
NEW YORK—To
Liverpool—Sept. 9—Celtic,
Devonian, 13,072
To Bremen—Sept.
12—Kaiser Wilhelm
Sept. 14—Barbarossa, 6,723.
To
750 lbs.
Hamburg—Sept. 9—Cleveland,
dent Lincoln, 2,350.....
To Antwerp—Sept. 9—
3,262
follows:
are as
Total baler-
12,455
Sept. 14—
.
25,527
_
der
Grosse,
300.__
7,023
...
Sept.
P
Lapland, 600.. J
To
Copenhagen—Sept. 14—Helllg Olav, 694
To Genoa—Sept.
9—Konig
Albert, 1,873.. .Sept.
200
To Naples—Sept.
9—Konig
Albert, 400
To
Trieste—Sept. 13—Argentina, 400
14—Presi¬
5.612
600
694
_
12—America,
...
2,073
400
400
1
GALVESTON—To Liverpool—Sept. 8—Ikhal,
12,069 ..Sept. 10—
Hubert, 9,814 -Sept. 13—Author, 8,033
To Havre—Sept.
To Bremen—Sept. 15—Madawaska, 10,744; Virginie, 7,787
10—Gafsa, 5,733._.Sept.
14—Barra, 8,294
...Sept. 15—Monomoy, 13,695.
To
Barcelona—Sept. 10—Ida, 7,750
l
NEW ORLEANS—To
Havre—Sept. 15—Guatemala, 527
To
Hamburg—Sept. 14—Greenbank, 401
To Genoa—Sept.
15—Monviso, 1,500
_
29,916
18,531
27,722
7,750
527
401
SAVANNAH—To Bremen—Sept.
15—Clivegrove, 2,8l5
To
Hamburg—Sept. 15—-Clivegrove,
200
I
To Reval—Sept.
15—Clivegrove,
200
To
Gothenburg—Sept. 15—Clivegrove, 250
BRUNSWICK—To Bremen—Sept.
13—Civegrove, 550
BOSTON—To St. John—Sept.
10—Calvin Austin, 334;
1,500
2,815
200
200
250
550
_
Gov.
Cobb, 63
j...
L
BALTIMORE—To Liverpool^—Sept.
10—Templemore, 46...
To Bremen—Sept.
307
46
_
14—Main, 3,755...
PHILADELPHIA—To Liverpool—Sept.
9—Merion, 200
SAN FRANCISCO—To
Japan—Sept. 13—Siberia, 300
SEATTLE1—To Japan—Sept.
10—Kamakaru
Maru, 100
•:
• V
-j
\
.
a-imiK..' :*•
,w .. ..-
.
-
-
Wednesday Thursday.
Dull and
easier, t
Quiet.
7.99
7.98
5,000
300
5,000
300
5,000
to 5 pts.
advance.
1 Steady at B’ly st’y at Quiet at7?*
) 5 @10 pts.
1@7?*
pts. dec. to
J advance.
pts. dec. 1 ?*pts.adv.
Quiet at
1@2 pte.
Dull and
3,755
200
;
300
100
i—
____s137,489
;
irregular.
8.18
St-dy,unch|
Friday.
7.98
j
3.000 i
200 .1
20#
decline.
Quiet at
2@3 pts.
decline.
Steady atr
1@5 pts.
Quiet at
1?*@4?*
Very st’y .at
2@6?*
Steady at
4@6.pts.
pts. dec.
advance.
pts. adv.
advance.
prices of futures
at Liverpool for each
day are given
below.
Prices are on the basis of
upland, good ordinary
clause, unless otherwise stated.
Sept. 10
Sat.
Mon.
to
Sept. 16. 12?*
12?*
p.m.
p.m.
Sept
Sept .-Oct.
Oct .-Nov.
7
7
6
Nov .-Dec.
6
Dec.-Jan
6
Jan .-Feb
6
Feb.-Mch.
6
Mch.-Apr. ..-.6
6
Apr.-May.
6
May-June
_
_
_
June-July
July-Aug.
Tues.
12?*
4
4
12?*
p.m. p.m. p.m. p m.
91
96
90
18?* 13?* 11
97 ?* 92?* 90
91
85?* 83 ?*
88
82?* 80?*
87?* 82?* 80
87?* 82?* 80
88
83
80 H
88
83
80?*
88 ?* 83
81
Wed.
12?*
4
p.m.p.m.
Thurs.
4
12?*
4
12?*
p.m. p.m. p.m. p.m.
92?* 82 ?* 79
78
78
12
12?* 11?* 10?* 11
89
90?* 90?*
?* 88 ?* 89
84
84
81
80 ?* 81
80?*
83
80
80
80?* 81?* 80?*
81
81
81?*
82
79
79
79
82
Fri.
80
17
94
82
82
85
84
19?* 23
96
99?*
81 ?* 85 1* 88?* 91
78?*,82?* 85?* 87?*
78
87
78?* 82?* 85?* 87?*
86
78?* 83
87?*
81 ?* 80
82?* 82
80?* 79
82
81
82?*
79 ?*
78 ?*
77 U
83
86
88
83 ?* 86?* 88
82 H 85?* 87
81
84 ' 85?*
Week. Sept. 1.
SHIPPING
2
2
3
4
Since
NEWS.—As shown on a previous
page, the
exports of cotton from the United States the
past week have
reached 137,489 bales.
The shipments in
detail, as made
up from mail and telegraphic
Total
@9
@9
10?*@9
11
@9
10?* 6
'
This
Since
Week. Sept. 1.
Liverpool
Manchester
Continent
6.73
@
7.98 9?*
Saturday.
....
Receipts (cantars)—
To
To
To
To
d.
3
10
10
8.03 9 7-16 @
week’s sales,
as
9%
4
4
4
5
10?* 5
day of the past week and
Spot.
1,452
7,850
Spinners’ stock September 1..
Exports (bales)
Upl’s
d.
s.
9H 4 1G?*@9
8.07 9
Aug. 26.
Sales of the week
bales. 26,000
Of which speculators took..
Of which exporters took
1,000
Sales, American
17,000
Actual export
19,000
Forwarded
34,000
Total stock—Estimated
326,000
Of which American...
235,000
Total Imports of the week—.
22,000
Of which American..
12,000
Amount afloat
51,000
Of which American.
32,000
each
d. s. d.
r
1908-09.
1,218
4,969
-
....
This week
d.
Cot'n
Mid.
”
1909-10
1
Week's Consumption,
?
000’s omitted.
In October
In November
In December
In January
In February
In March
In April
In May
In June
In July
In August
d.
8?* lbs. Shirtings, common
to finest
32s Cop
Ticist.
Upl’s
d.
s.
spot cotton have been
Oct. 1 to Sept. 1.
Bales of 500 lbs. each.
000s omitted.
Cot’n
Mid.
u
10?*
10?*
Sept
EUROPEAN COTTON CONSUMPTION TO
SEPT. 1.—
By cable to-day we have Mr. Ellison’s cotton figures
brought
down to Sept. 1.
We give also revised totals for last
year
that comparison may
be made. The spinners’ takings in
actual bales and pounds have been as
follows:
Great Britain.
29
Aug
579.964
464.964
115,000
Europe from Brazil, Smyrna, West Indies, &c.
October 1 to September 1.
d.
July
2,006,930
237.774
344.988
124,000
1909.
8?* lbs. Shirtings, common
to finest.
Ticist.
1,446,530 2,006,930
weeks of this and last
year
*
3,000
1,915,518 2,244,704
previous
for comparison:
d.
Deduct—
Visible supply
a
MANCHESTER MARKET.—Our
report received
to-night from Manchester states that the market by
is
firm for yarns and
quiet for shirtings. Merchants are
buying very sparingly, i We give the prices for
to-day be¬
low and leave those
cable
Cotton Takings.
Week and Season.
Total
735
BREADSTUFFS.
Friday} Sept. 16 1910.
Flour has been quiet, or at the best
has met with only a
moderate demand.
Large buyers have shown a disposition
to hold
aloof, something which perhaps is. not
surprising in view of the depression in wheat and altogether
the enor¬
mous world’s stocks of that
cereal.
It is true that a some¬
what better demand has at times been
reported at Minneap¬
olis, St. Louis and Kansas City, but trade as a whole
has
been slow.
Prices have in some cases shown a
tendency
towards a lower level.
Wheat has been for the most
part dull and declining. Not
alone has the cash demand been
slack, but speculation*
itself, which so often ignores legitimate
dull.
The
world’s
available
increased 15,290,000 bushels.
conditions, has been
supply has within
The total is very
a
week
largely in
stands, world’s-
of that of a
year ago.
As the case
stocks are rapidly
increasing,
while the demand is cautious
and as a rule
comparatively small. The prospects for the
world’s crops are favorable and
excess
buyers, seeing that the
gradually declining, naturally pursue a
waiting policy. The supply at Liverpool is so
large that
there is considerable “short”
selling
there.
The
crop
outlook
in this country is such that
bull campaigns are considered
unduly hazardous. Possibly the “short” .side is
being
somewhat overdone both at home and
abroad, but the con¬
sensus is that the outlook
points to a
market, with
only occasional rallies at the expense sagging
of the short interest
The foreign markets have been
declining. In Russia prices
are said to be
particularly weak, as supplies are bountifui
and
increasing and the acreage will be enlarged. The
weather in that
country has been very favorable for seeding.
Beneficial rains
world’s markets
are
_
have fallen in Australia and not a little stress
has been laid qn an increased
acreage and a favorable outlook
in Argentine.
In
Germany the supplies of native "wheat
GRAIN.
large. The weather in India has been favorable for
seeding. Another depressing factor in this country has
It is true that the receipts of wheat
been a decline in corn.
at our primary American points have latterly been decreas¬
ing, and at no time have been large; but on the other hand
there has been little demand to bring the wheat out.
Cer¬
tainly the export demand has been light and the buying for
home account has also been noticeably small.
Large Chi¬
cago interests have been free sellers.
Rallies in the price
have been
temporary and due more to covering of shorts
than to anything else.
The Canadian crop is officially
are
stated at
onl^r 123,000,000 bushels, against 168,000,000 last
but this has had no effect, nor has the fact that the
receipts at the American Northwest have been far smaller
than those of a year ago. Rotterdam advices are to the
effect that Russian offerings, already large, will continue so.
Manitoba Offerings in Liverpool of late have been larger
at cheaper prices.* Northwestern stocks are increasing.
Winnipeg quotations have weakened noticeably. To-day
prices advanced oh lighter receipts, predictions of some
decrease in the week's world’s shipments, unexpected
strength in Liverpool prices and covering of shorts.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fn.
103 H 104
No. 2 red winter.
103 X 103 X 102 i 102 X
September delivery In eleTator.__.103H 104 X 103 X 103 X 101H 103 X
107 X 107 X 107 X 106 H 105 H 100 X
illX 112H 112
111X 1 OH 111 X
CLOSING PRICKS OF WHEAT FUTURES IN CHICAGO.
delivery In elevator
Map delivery In elevator
DAILY
Sat.
September delivery In elevator..95X
Mon.
96
Tues.
a ed. Thurs. Fri.
95 H 94 H
-
99 H 98 11-16
May delivery to elevator..105^ 106H 105H 104 X
December delivery In elevator.. 99H 100 K
Holl- 951*i«
day.
99 H
10.H
Indian corn has been declining, owing to generally favor¬
able weather.
Frost has been predicted at times, but the
prediction not having been as a rule verified By the event,
it really served in the end
true that eaily in the week
to depress prices further. It is
there was a temporary advance,
owing to frost in the Northwest and
predictions that the
line iTOUid extend southward into Iowa, Illinois,
Nebraska and Wisconsin. But even in South Dakota the
frost did nd damage, and no frost of consequence occurred
in what are known as the big corn States.
Some nervousness
frost
Cents
64 X
Cora, per bushel—
bushel—
No. 2 mixed
eiev.
N. Spring, No. 1
$1 21
No. 2 mixed
fxi.b.
N. Spring, No. 2
Nom.
No. 2 white—..f.o.b.
Red winter, No. 2__.J
1 02 X
Hard winter, No. 2....... 1 04H Rye, per bushel—
No. 2 Western—f.o.b.
Oats, per bushel, new—
Cents.
State and Jersey
Standards
38 X
No. 2 white
39 X Barley—Malting —---No. 3 white
38 X
Feeding. C.1.L, N. Y_.
Wheat,
year,
December
{Vol. LXXXX1.
THE CHRONICLE
730
per
Nominal
Nominal
Nominal
70
@75
Nominal
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 years have been:
Receipts at—
Flour.
Rye.
Barley.
Oat*.
Com.
Wheat.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu.56 tbs.
Chicago
164,104
64,750
....
Milwaukee..
Duluth
23.915
Minneapolis.
Toledo
Detroit.
Cleveland
St. Louis...
Peoria
Kansas City.
4.189
2.491
55,310
39,504
..
836,400
340,130
1,243,189
2,988,810
90,000
73,191
7,330
479,915
18,000
1,299,600
3,870,250
247,470
35.409
253,620
58.600
103,029
58,202
302,635
296,700
280.800
2,044.800
297,500
15.954
1,008,220
120,750
28X92
7,376,565
5,606,715
8,268,428
9,700,224
4,077,599
4,308,432
4,222,355
5.109.310
354,263
525,343
Total wk. 10
Same wk. 09
Same wk. ’08
483,178
1910
1909—
1908
Total receipts
the week ended
Baltimore
Richmond
New Orleans *
Newport News....
Norfolk
Galveston...
Mobile..
2,800
81.063
"9,972
1.638.040
2,451,670
4.282.664
115.996
606,726
135,3001
5.500
79,900
313,536
45.275.220*
29.608.632
5,494,754 1,094.438
5.804,303 1,202,206
26.319,354 1M21,530 1.132X41
of flour and grain at the seaboard ports for
Sept. 10 1910 follow:
Rye.
Flour,
Wheat,
Com,
Oats,
Barley,
bbls.
bush.
bush.
bush.
bush.
bush.
192,768
36,203
56J)82
58,922
4,839
24,301
10,223
2,429
135,900
9.697
199.173
242,038
46,424
13,600
31,500
5,820
375,150
111,112
5,100
19,088
50X02
84,582
61.108
232,800
168.340
6,000
Receipts at—
New York
Boston
37,312,438
37,649,337
574,790
171,616
22,490,794
19,178,595
15,711,074
51,642,984
2,126,085
2,703,760
2,439.798
321,600
331,287
406,300.
2,816,583
Since Aug. 1
14,000
27,540
15,304
38,280
6,600
376,500
.....
[38,000
1,000
10,444
795.188
56,100
2.000
22,737
:
277
1X53
6,702
337,668
79.404
■58X06
-
it.
..
-
90.256
regard to frost has been noticeable, as perhaps about half
11.100
533,356 1,119,924
28.020
the corn in the Northern belt is in the milk and might be Total week 1910- 410,504 1,479,920
Since Jan. 11910.11,934,111 46,774,225 28,341.581 34,618,397 2218,867
549.8Q2
much injured by a hard freeze.
On the other hand, a light Week 1909
445,010 1,412,464
430,872 1,523.455
22,857
14,563
frost, it is ufgea, would be rather beneficial than otherwise, Since Jan. 11909.10,364,139 51,085,799 30,548.987 32,859,224 4265,073 671,868
as it would tend to stop the growth and cause the sap to
Receipts do not Include grain passing through New Orleans for foreign ports
run into the cob.
And only light frosts have prevailed in on through bills of lading.
the recognized corn States where there has been any at all.
The exports from the several seaboard ports for the week
Of late the weather has been warmer, even in the northern ending Sept. 10 1910 are shown in the annexed statement:
Rye.
Barley, Peas,
Oats,
Flow,
Com,
Wheat,
portion of the torn belt. Every day without killing frost
bush.
bush.
bush.
bush.
bbls.
bush.
bush.
Exports from—
naturally means just so much added to the crop of sound New
1402
4X00
2,294 45X75
York
28,205
corn.
Trade has been, as a rule, quiet, though of late it is Boston
3,819
25.694
14,000
144,000
stated, considerable corn—said to be 1,500,000 bushels— Philadelphia
32.941
Baltimore
260,602
has been ordered out of the elevators at Chicago.
60
In the New Orleans
2.458
72,129
10.223
fore part of the week the cash demand at Chicago was some¬ Newport News...
407
what better and the shipments exceeded the receipts, but as Galveston
2,000
10,444
Mobile..——
41,000
3,000
26,000 10.000
the crop nears the point of safety, buyers, as a rule, grow Montreal
593,606
2,429
Some selling on Wednesday in Chicago was due Norfolk
cautious.
41,000
1,102
7X80
to an indisposition to carry corn over a holiday there on
110,867 123,552
Total week
1,051,501
522
30,186
113,694 196,496
Week 1909
1,261,073
Thursday. Of late the country sales have fallen off rather
since
for
the
week
and
-The destination of these exports
sharply, and this fact points to smaller receipts for a time
but everybody looks for a big crop and the ‘‘short” side is the July I 1910 is as below:
FlourSince
popular one. Unless the crop is cut down by an untimely
Since
Since
Week
Week
July 1
Week
July 1
killing frost, the expectation is so widespread as to be prac¬
July 1
1910. Sept. 10.
1910.
1910. Sept. 10.
for toeek and Sept. 10.
tically universal that prices must decline. To-day prices Exports
bush.
busk.
bush.
bush.
bbls.
since July 1 to—
bbls.
were heavy.
26,000
590,428
610,628 B.()24,865
506.740
United Kingdom... 72,173
in
*
.....
.....
......
.....
......
.
.....
.....
.....
.....
.....
.....
.....
.....
.....
.....
......
.....
.....
.
—
...
-
.....
.....
—
-
DAILY CLOSING PRICKS OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon. Tues.
Wed. Thurs. Fri.
Cask com
65
65 X
65 H
64 X
64 X
65 X
September delivery In elevator
65 H
65 H
65 H
64 X
64 X
65 X
December delivery in elevator
63 X
63
63
61X
63-64 63 H
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
..56 H
57H
56 X Holl- 55 X
September delivery In elevator
56 H
December delivery In elevator
54 X 55 % 55 X 54 X day. 53 X
May delivery In elevator.....
57 X
53 X
58 H 57 X
567i«
Oats have followed other grains downward.
Yet at times
rallies, especially in the near months, have occurred, owing
to the covering of shorts.
For in oats, as in wheat and corn,
the tendency is rather towards the short side.
Oats prices
have latterly been firmer.
Also the interior has been selling
less freely.
Chicago’s stock last week increased only 284,000
bushels, a fact that made shorts for a time more cautious.
The depression in eorn, however, has been an influence
which could not be shaken off.
downward tendency regardless of
,
Futures have shown
a
the steadier tone at times
of the cash market as receipts decreased. To-day prices were
stronger. Prominent interests bought. Cash houses were
good buyers in Chicago of September, selling December at
l^c. difference, against a difference of 3c. last week.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.
.
Mon.
Tues.
Wed.
Thurs.
Continent
18,894
Sou. A Cent. Amer. 12,828
West Indies
13,245
6,912
Brit. Nor. Am. Cols.
Other Countries
4
M
.
.
;
December delivery In elevator
May delivery In elevator
The
following
are
34 H
37 X
35 ^
38 X
35 H
38 X
X
Holl-
35 X
day.
38 x
closing quotations:
FLOUR.
Winter, low grades....$3 00( 43 65 Kansas straights, sack.84
5 15 Kansas clears, sacks
Winter patents
5 00 (
4
4 65 City patents
Winter straights
4 50 (
6
4 15<
4 35 Rye flour
Winter clears
4
5 75 Graham flour
Spring patents
5 50 (
4
5
25
Com meal, kiln dried.. 3
Spring straights
5 00(
4 65
Spring staffs
4 10<
85
00
00
00
00
25
34
110.867
2,067,214
..
....
ending Sept. 10 1910 and since July 1 1910
shown in the following:
Week
Since
Since
Week
Since
Since
Sept. 10.
July 1.
July 1.
Sept. 10.
July 1.
July 1
Bushels
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
North Amer. 1,408,000
5,800,000
Russian
14,082,000
41,768,000
11,560,000
23,664,000
13,920,000
6.408,000
1,198,0001
....
1,024,000
5,696,000
Indian
1,040,000
Australian.. 1,600,000
190,000
Oth. countr’s
Argentine
Danubian
Total
—
__
._
16758000
I
m
*
=
1
I
10
3
11
12
14
Com.
Wheat.
3
Visited
United
■
Sept.
Sept.
Sept.
Sept.
Sept.
I
121,716,000
J
112,600,000| 91,685.000 3,728,000 46,282,000 44,777,000
tsa
M
y
2,783,000
1,177,000
22,089,000 259,000
4,872,000
2,260,000
85,000
30.224.000
10,864,000 3,171,000 32,830,000 32,532,000
6,196,000
8,409,000
6,792.000 213,000
quantity of wheat and corn afloat for Europe on dates
The
■
1909.
1910.
1909.
1910.
Exports.
and 1909 are
Com.
Wheal.
m
35 H
38 X
7,336.799
■
113,694 1,239.288
1969.
196,496 1,338,865 1,261,073 13,371.828
The world’s shipments of wheat and corn for the week
Fri.
Mon. Tues. Wed. Thurs. Fri.
Sat.
32 H 33 H 33 X 33
970
m
72.129
11,768
65.778
.......
123,652 1,161,626 1,061,601
Total.—
5,000
211,984
984,294
270,619
4,000
5,989
34 141,156
440,873
Total
Natural white
38H-39H S8H-39 38-39
38-39
38-39
38-39
White clipped
39-42 H
39-42 H 89-42 H 39-42 H 39-42 H 39-42 H
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
September delivery la elevator
202,242
192,015
206,903
22,906
30,820
\Kingdom.
1910.
1910.
1909.
1908.
1907.
Continent.
Bushels.
Bushels.
18,720,000
18,880,000
14,880,000
15,120,000
16.120,000
22.080.000
19.440.000
11,920,000
13,920,000
10.760.000
Total.
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
Bushels.
40.800,000 10,455,000 10.115,000 20,570,000
38,240,000 10,880,000 10.115X00 20,995.000
26,800,000 6,970,000 9X65.000 16X35,000
29.040.000 6.035.000 4,335,000 10X70.000
26,880,000 6,760,000 4,720,000 11,480,000
Sept. 17
1910.]
The visible
THE CHRONICLE
supply of grain, comprising the stocks in
The demand for brown
sheetings and drills has been ir¬
regular this week, and in the aggregate shows a falling off in
volume from late weeks.
Buyers are confining their pur¬
chases almost entirely to small quantities for near
deliveries,
few orders being noted as placed ahead.
Barley,
Spot
goods
have
bush, been offered in some
quarters, and in these instances buy¬
74.00Q
ers have occasionally been able to do somewhat better in
price than a week ago, concessions of 3^c. to 34c. being oc¬
"V,666
casionally accorded. Bleached cottons continue steady,
with a moderate distribution.
Stocks of coarse, colored
78,000
cottons are generally small, and previous
prices are held for
on denims,
tickings, colored ducks, <fec. Staple prints are
in indifferent request, the demand
being affected by renewed
61,000
belief among buyers that lower prices
525,000
may be named later
200,000
on.
Printers, however, do not admit that any decline is
12,000
likely. Fine printed fabrics have been in moderate demand.
at principal points of accumulation at lake and
seaboard ports Sept. 10 1910, was as follows:
granary
AMERICAN GRAIN STOCKS.
Com,
New York
ca
H* <*
New Orlpan*
Galveston
Buffalo
Toledo
Detroit
Ch cago
Milwaukee
Duluth
_
.
.
.
.
6.296,000
305.000
.
Mlnneapol's
.
St. Lou 8
Kansas City
Peoria.
.
.
-
s
.
On Lakes
On Canal and River..
Total
Total
Total
1,616,000
1,623,000
277,000
.
.
2.831.000
3,956,000
1,962,000
4,148,000
10,000
748,000
563,000
827,000
9,000
182,000
236,000
7,000
901,000
23,000
238.000
1,017,000
41,000
194,000
128,000
120,000
656,000
166.000
7,256,000
360,000
10,000
11Y.000
765,000
1,653,000
114,000
674,000
203,000
308,000
Sept. 101910. .28,298,000
Sept. 3 1910. .26,452,000
Sept. 111909. .10,741,000
&
bush.
648.000
9,000
136,000
23,000
2,000
135.000
.
_
Indlanapol
^
1* co XoicCOJ^.
Boston
Philadelphia
Baltimore
Oats,
bush.
193,000
140,000
20.000
21,000
14,000
5.000
36,000
86,000
5,000
45,000
137,000
821,000
50,000
1,978,000
242.000
812,000
132,000
36,000
2,966,000
2,750,000
1,957,000
17,748,000
16,260,000
8,862,000
255,000
172,000
325,000
1,265,000
928,000
1,462,000
Barley,
The best business of the week has been recorded in the vari¬
314,000
CANADIAN GRAIN STOCKS.
Wheat,
Montreal
Fort William
Port Arthur
Oats,
Rye,
bush.
bush.
bush.
773,000
900,000
696,000
424,000
57,000
311,000
55,000
2,793,000
1.984,000
57,000
21,000
90,000
311,000
300,000
323,000
55,000
60,000
5.7000
_
.
.
Other Canadian.
Total Sept. 10 1910.
Total Sept. 3 1910.
Total Sept. 11 1909.
.
.
.
.
Corn,
hush.
1,757,000
bush.
SUMMARY.
Wheat,
Corn,
Oats,
Rye,
bush.
bush.
bush.
bush.
.28,298,000
2,793,000
2,966,000
57,000
17,748,000
311,000
255,000
Total Sept. 1C 1910..31,091,000
Total Sept. 31910..28,430.000
Total Sept. 111909.. 12,498,000
Total Sept. 121908. .20,823,000
3,023,000
2.771,000
2,047.000
2,006,000
3,231,000
2,932,000
5,799,000
18,059,000
16.560,000
9,185,000
5,133,000
3,189.000
255.000
172,000
325,000
560,000
7,163,000
15,066,000
1.456.000
American
Canad an
.
Total Sept. 141907..45,550.000
Total Sept. 151906. .31,180,000
Total Sept. 16 l90fk_13.356,000
Barley,
bush,
1,265,000
55,000
531,000
954.000
1,320,000
988.000
1,519,000
2,878,000
1,163.000
1.318,000
1,878.000
grades of dress ginghams and fine woven patterned cot¬
fabrics, these in contrast with other descriptions
goods being ordered freely for next spring season,
and some of the most
popular lines have their output al¬
ready sold out. Napped dress fabrics are quiet. Cotton
linings also quiet. Only a slow demand has come forward
for print cloths during; the week, and the easier
tendency
noticed last week has been rather more
pronounced, some
sellers
accepting 5c. for 383^-inch 64 squares, a decline of
34c. from the limit recently held for.
WOOLEN GOODS.—The leading lines of staple worsteds
and the higher grades of fancy worsteds have again com¬
manded the greatest attention from buyers, a moderate num¬
ber of orders coming along for the new season’s
goods with¬
out change in prices.
Sellers of all-wool and low-grade fab¬
rics in many instances are still
complaining of the inadequate
volume of orders
coming forward, and although there have
been no changes in prices, quiet irregularities
prevail. In
dress goods, some leading makes of worsted fabrics for
spring
have been placed on the market this week and the
prices
named thereon show declines of from 734 to 10% from the
prices of previous seasons. A fair business has been done
m
general lines. Cloakings continue quiet, although in
somewhat better request than of late.
FOREIGN DRY GOODS.—Men's wear woolen and wor¬
sted fabrics have been in moderate
request, with a fair busi¬
ness reported in dress
goods, worsted descriptions in both
having the preference. Piece silks have not been called for
as widely as last
week, but the demand is still of fair propor¬
tions and some increase in trade is reported in silk ribbons.
The demand for linens shows no
falling off and the market
is very firm. Burlaps have ruled
strong, with a good demand
at higher prices under influence of an
advancing jute market
ous
ton dress
of cotton
•
THE DRY GOODS TRADE.
New York, Friday Night, Sept. 16 1910.
General business in the primary market has this week
been on a reduced scale, a falling off in demand
,
being no¬
ticeable, particularly in staple cotton lines. Various causes
are said to be
contributing towards still greater conserva¬
tism on the part of jobbers and converters
throughout the
country, chief among them being the prevailing political Importations and Warehouse Withdrawals of
Dry Goods.
unrest and the apparently
The importations and warehouse withdrawals of
steadily widening opinion that
dry goods
whatever other issues may figure in the nearing political con¬ at this port for the week ending Sept. 10 1910 and since
Jan. 1
tests, tariff revision will again be the leading feature. The were as1916, and for the corresponding periods of last year,
follows:
tendency is naturally, therefore, to keep commitments within
is;
S
g
g
as narrow limits as
compatible with meeting requirements as
lags’ll 9 l3gg>*S
s
»rsg |
they arise. The benefits which might be expected to follow
assflgg
o
D
abundant grain crops are to a great extent offset
w
by this
go
feeling of uncertainty, combined with the enhanced cost of
commodities for household necessities.
H
Meanwhile, there is
as
little actual evidence of increased
production, but neverthe¬
h
less there are occasionally unsold
h
goods coming upon the
Sd
market in the heavier weight cotton fabrics, and to find
H
buy¬
ers the mills have here and there
e
accepted somewhat lower
prices than they held for a week or ten days ago. This im¬
parts an easier appearance to the market, which, however,
S ®®NO
M
cannot be accepted as
applicable all around, there being
O -1
»
many lines of cotton goods on which sellers are absolutely
firm in refusing to do business
except at the prices asked by
2M
them.
These sellers have their
® Co
production well under con¬
*4 Q ■*
trol and are declining to commit themselves
03 00
^
unduly. The
O
®
03 © *-» CD
opinion expressed in the market by sellers is almost invaria¬
O
bly that the prices of cotton goods must advance before
as
O CO
production can be increased to a material extent, little ex¬
^3- 03
pectation apparently being held of such a decline in the price
CO ot
a
^
o
« 8
eo co
SJ
of raw
.
_
C#
o»
OB
&
CO CO CO
N M to
05
CO
*1
w
M
00
ca 03 e*
-4 CO
00 cn
material
the
as
to enable manufacturers to
resume
w *-» c*
CO -4
W CO
on
prevailing parity between
cotton and goods.
In woolens
and worsteds the week’s business has been much of an ordi¬
nary character, presenting no change of moment from fea¬
tures
China.,
India
Arabia
Africa
West Indies
Mexico
Central America.
South America,.
Other countries,
Total
O ® 4
|U o
-4 fta ©
10
30
976
976
586
44
364
911
2,380
.6,363
669,
54,118
9,513
9,336
5,323
20,155
1,410
8,421
33,154
33,732
177,354
H
M
s
e*
tNJ
3i
w
»
to
b-k
w
3—
c* oo
M M M
w
>
as
M
® -4 43. 03 V»
03 to 00 40 Is,
r*
1909
Week.
135
18
..
525
383
193
648
17
199
Since
Jan. 1.
M
© «
780
©
M C* -4 -4 Co
3- CD M W
it. M 9 M «
Vi
CO
6»
M
« «
C* CJ» to W CO
03 CD 03 03 -I
M M »-* to ft*
£
.84'j:z
*-1
11,291
29,449
1,134
O
1,118
9,749
37,161
939
13,610
co w
eu«
285,053
® m
4,175
b-k
ft* *. 0e c* ca
W M B B cn
148,342
11,698
20,589
s, co
EfcS
®#»OM
1,250
The value of these NewlYork exports since
January 1 has
been $12,214,642 in 1910,Iagainst
$15,320,255 in 1909.
oo o»
W CO CO 03
DOMESTIC COTTON GOODS.—The
exports of cotton
goods from this port for the week ending Sept. 10 were 6,363
packages, valued at $458,542, their destination being to the
points specified in the table below:
New York to Sept. 10—
Great Britain
Other Europe
Vi
oo
previously noticeable.
-1910Since
Week. Jan. 1.
86
1,523
I 3
3* M M
CO CO it. Oo co
i-i
C4 t->
7- cfc
o* h» oo
CJ b-k
ft* t-k
03 0» 00 03 »"»
HOIttOlB
32
e*
32
2 **‘*882
Cft o* 03 to 03
ft*O MO CD
pr
■*1
to
S1
to
CO
03 »
-O
V>(V
O M
00
mSb
WOOtWM
a
M CO CO O CO
eo eo
co eo to M CO
Mobi
SC
W4«M
CO 03 CO 4» 43.
CD
HA
Mow**
-4
4*. CO, M»
b-k CO 00 M M
3-3
t\> » Cl 09
-I CD M © CD
03 03 I
00 *. <
M
&
§
>
25
O
,
03 03 *4 4. OO
03 t* O0 .CO CO
w o
«Ollk4M
3-3
M
M«"oH
6* 00 CD M O
M 03 43. M «•
OCDWOi O
00 co O
o co
Vj
■4 CO 3-3
e*
it. to
co -4 e* eo co
U
o
<o
THE CHRONICLE
738
100
100
Rate.
Page
Name.
6
478..
416.. Holloway Sch. Dlst., Ohio
5
4
478.. Hornellsville S. D. No. 7, N. Y.
5
000.. Huron Sch. Dlst., So. Dak
602..
4H
602..
6
541
4H
541..
6
417..
4H
417.. Jones Co.Com. S. D.
5
666..
5
000
Kansas (5
5
000.. Kansas
5H
5
353_. Kansas City, Kan. (2 Issues)
5
541..
541
5V*
5
666..
5
602..
5
541.. Lane Co. S. D. No. 19, Ore
666.. Lansing, Mich
4M
478.. La Veta, Colo
4
478„
5
666
4
541
5
417.
4.70
479. .Liberty, N. Y.
353.
4H
6
417
5
353
4H
667
541..
4H
4
541
479
Lyon’s Union Sch. Dlst., N. Y_ 4H
4
353. McConnellsvllle, Ohio
603
McCulloch Co. Com. S. D. No. 7,
5
Tex
5
417
McLean Ind. S. D., Tex
6
417
Madison Sch. Dlst., Cal
541
Madisonvllle Sch. Dlst., Ohio— 4
417
Marble Cliff, Ohio
4Yi
5
603
4
667
4
417
4
541
5
541
5
417 .Mart Ind. Sch. Dlst. Tex.
4X
479 .Massillon, Ohio
3H
603
5
417 .Maumee, Ohlc
5
542 .Medford, Ore.
603 __Medford, Wls.
4
542
4
542 .Miamlsburg, Ohio
4H
354 .Middletown S. D., Ohio
5
417 .Milford Ind. Sch. Dlst., Tex..
5
603
4H
417
4H
417
Milwaukee, Wls. (3 Issues)
5
417
Moberly Sch. Dlst., Mo
5
744
Monmouth, Ill
101.064
100.39
417
479
418
Stats a ad City Department.
MUNICIPAL BOND SALES IN AUGUST.
list of the municipal
of August, which the
columns prevented our publishing
We present herewith our detailed
bond issues put out during the month
crowded condition of
our
[VOL.
Maturity.
1911-1919
1933
1915
1930
1920
_.
6375651104448237528.—..PNN0Rieoaaqkwrghvutcgifthgnleoy,rlesfkpad,snmm
60
.
dl915-1930
1930
dl915-1930
1930
—
at the usual time.
given on page 665 of
the “Chronicle” of Sept. 10.
Since then several belated
August returns have been received, changing the total for
the month to $13,165,868.
The number of municipalities
issuing bonds was 289 and the number of separate issues 383.
The review of the month’s sales
was
_.
—
AUGUST BOND SALES.
Rate.
Nam*.
Page
600. Abilene, Texas
600.
665.
740 ..Alliance, Ne ».
600740.
740414.
350.
539.
476351414.
414.
414.
414.
539.
539.
600- -Banning Sch. Dlst., Cal.
539.
539.
600.
600.
600.
600.
600.
414.
476_
414. .Blrcb Tree Sch. Dlst., Mo.
600.
414414.
600.
414. Brady Ind. Sch. Dlst., Tex
600_ .Brazoria Co. Dr. D. No. 3, r~
665. Browns, Ill
414.
665.
665. .Calumet Sch. Dlst., Okla.
414.
470.
Maturity.
350,000
.
.
4
4
5
5
.
.
al920
dl915-1940
18,000
34,500
dlS iO- IH30
9d,000
5
5
4
4
5
.
.
.
.
.
5H
4H
-
-
4
4
5
4
.
.
.
.
Yi
4H
4 Vi
4
-
-
-
100
100
181000
100
1930
1912-1920
1935
1911-1920
1911-1915
1945
1915-1916
1911-1925
1920
1910-1917
1911-1920
1911-1915
1911-1919
1914-1930
.
.
.
.
.
.
.
-
4
4
5
al945
.
.
.
.
.
415- Carrlzozo Sch. Dlst., N. Mex_.
601. Cashmere, Wash
601.
665. Chebanse S. D. No. 107, Ill
601.
665.
.
■
.
.
.
.
.
5
6
5
5
5
4 H
5
5
5
4
4
6
4
42,000
16,500
dl 915-1950
al950
4i000
dl920-1930
1930
1922
dl920-1940
1940
*
1911-1925
1912-1919
1911-1950
1960
1912-1917
1911-1915
1940
4H
601.
.
415351477.
601.
.
•
5
5
5
5
4H
1920
1911-1915
1912-1923
1940
4H (11915-1925
741. .Columbus, Neb
al922
415. -Columbus, Wls
al921
415. -Columbus, Wls
1940
415. .Concord, Mass
477. .Cooke County, Tex
dl929-1939
477. .Corpus Christl Ind. S. D., Tex.
415. -Cottonwood Sch. Dlst., Cal
1916-1917
352. .Covington, Ohio
1911-1920
415. -Crawfordsville Sch. City, Ind._ 4
5
’20,,25,’30&*35
601- .Creek County, Okla..
•01. .Crestline Sch. Dlst., Ohio
540. .Crete, Neb
415.
-Cuyahoga County, Ohio
601. -Delaware, Ohio (2 Issues)
415. -Devine Ind. Sch. Dlst., Tex
601- -De Witt Sch. Dlst., Mo
601. -Dickey County, Ns. Dak
352. .Dolgevllle, N. Y
602.
477urant, Okla
477. .Durant, Okla. (2 Issues)
477- .East Cleveland, Ohio
540. .Eastland Ind. Sch. Dlst., Tex.
352. _East Liverpool Sch. Dlst., Ohio
540. .East St. Louis Park Dlst., Ill._
540. -Eden Township, Ohio
477. .Ennis. Tex
540. -Euclid, Ohio
540. .Euclid, Ohio
742. -Flint, Mich-..
602. .Fort Payne, Ala
416. .Franklin Township, Ind
602. .Fulton Sch. Dlst., Mo. (2 issues)
416. .Gallon, Ohio
478. .Gardner, Mass
guluth, Minn
....
416- -Gary, Ind
352. .Geauga County, Ohio
416. -Gettysburg Sch. Dlst., Ohio
478. -Graham Sch. Dlst., Cal
742- .Granite Sch. Dlst., Ill
540- -Grand Rapids, Mich
540. .Grand Rapids, Mich
40. .Grand Rapids, Mich
16. .Grand Valley Irrlg. Dlst., Colo.
416- -Grant County, Imd-_
416. -Grayson County Com. S. D.
No. 45, Tex
540. -Greenburgh, N. Y
352. .Greenfield, Mass
540. .Greenville, Mich
416. -Groveport Sch. Dlst., Ohio
541. .Half Moon Bay High S.D., Cal.
478. .Hamilton, Ohio
416. -Hamilton County, Ind. (2 Iss.).
602. .Hannlbal Sch. Dlst., Mo
742. -Hardy, Neb
416. -Harrison Sch. Dlst., N. J
743. -Haverstraw S. D. No. 3, N. Y
666. -Hebron, Neb. (3 Issues)
4^
5
5
6
4H
4
4K
5
6
4H
5
4
4tf
4H
4K
4H
1911-1920
1911-1920
(11915-1950
1911-1916
1920
1912-1930
1940
1930
1930
1920-1927
(11930-1950
1918-1924
1920&1930
1912-1927
5
1911-1925
(11915-1930
1924
4H
4
1911-1920
6
4
1912-1921
5
1911-1921
5
1916-1940
5
1912-1920
1935
4K
1913-1915
4H
1911-1915
4H
6
1921-1930
4H
1911-1920
4*
5
5
(11915-1950
4.85
4
1911-1916
4H
4K
5K
1912-1921
4
1925
1911-1920
4H
4
(21920-1930
5
(21915-1930
1911-1940
4K
4.49 1911-1919
5
5
416.-Helt Township, Ind--._
602..Henry Comnty, Ohio (12 Issues) 4H
1912-1931
5
4X
1801000
1911-1915
Various
160,000
3,000
25,000
76,060
10,000
io;ooo
15,000
6,000
7,500
100,000
15,000
8,000
150,000
300,000
25,000
2,500
800,000
51,325
4,000
6,000
14,000
6,000
a:100
100
100.50
99.2375
100.77
101.287
45,0001
45761093-—.Sahiupnevgoltbmrys,
101.67
100.10
100.30
100
101.109
106.25
106.89
104.345
100
102.434
16,000/
20,000
125,000
75,000
1,800
1,000
82,000
200,000
40,000
40,000
2,698
4,200
2,000
3,000
50,000
20,000
50,000
10,000
40,000
7,300
20,000
14,000
100,000
3.500
12,000
16,000
2,893
76,000
7,000
41,000
24,000
12,000
10,000
30,000
20,000
3,000
25,000
14,000
102.656
200,000
106.36
100.416
100.025
100“""
104.166
100.10
100.006
l’oV.is"
100
101.343
103.952
100
100.16“
100
100
100
101.785
100.287
101.111
102.753
101.282
100
101.46
100.074
102.666
100
103.783
103.60
26,500
Jb
84,000
100
__
_
_
4
6
Monmouth SI D. No. 38, Ill
Morrlllton, Ark
1918-1923
dl920-1934
1911-1921
dl920-1930
1911-1918
1935
1911-1920
al913
1915-1934
1911-1917
fob"
100.25
101.359
105.51
100
fob""
100
100.125
,HP0
l
4«%
basis
101.297
1912-1920
1911-1921
1920
al914
1922-1930
Motley County Com.
H
1950
1950
1911-1926
1940
1911-1929
1911-1923
dl920-1950
1911-1935
1916
al923
dl930-1950
1912-1913
1912-1921
1930
1911-1930
1915-1950
dl930-1950
1911-1915
1911-1930
1911-1930
dl920-1930
1912-1930
1919-1928
1916-1935
Sch. D.
5
dl915-1950
No. 6, Tex
1911-1920
Mt. Pleasant S. D., Mich
4H
dl920-1950
Mt. Pleasant Ind. S. D., Tex— 5
1916-1923
4
Mount Sterling, Ohio
5
dl920-1930
3
667
479
745
667
542
3^
Hampshire.,—
(2 lss
3
4
5
667—New York City
Falls, N. Y
Falls, N. Y
“
"
.Niles, Ohio
.Niles, Ohio
.Noble County, Ind.
354
480
418
542
4H
4H
4H
4H
1959
1959
1920
1940
1930-1934
1911-1915
1920-1923
Price.
7,957
5,500
30,000
28,910
75,000
20,000
9,000
12,000
120,000
280,000
50,000
20,000
20,000
12,000
3,500
2,500
7,540
30.606
106.38
103.61
105.607
104.90
98.105
100.011
100
100
98
59,300
10,000
8,500
101.25
100.135
102.525
100.742
100
101.322
101.652
101.032
100
101
7,500
10,000
2,000
3,000
19,000
9,000
100
100
102.50
100
102.052
102.111
5
4
5
County, Va
Borough S. D., Pa4H
745—Nottingham, Ohio
4H
—
745—Nottingham, Ohio
Ohio
Oakley, Ohio (2 Issues)
603—Oneonta, N. Y
603—Oneonta, N. Y
668.-Ontario Sch. Dlst., Cal
Va
354.-Ossining, N. Y
603—Oswego, N. Y
745__0if iri, Miss
’
668_-Pacific Co. S. D. No. 36, Wash.
County, Iowa
—Ill...
Ind. Sch. Dlst., Tex__
County, No. Dak. (2 lss.)
Bluffs, Wyo.^
542__Plalnvlew, Mlnn__
746. Plattsourgh, N. Y
603
-
-
S. D., Va
604__Portagevllle S. D., Mo
668.-Porterville, Cal. (3 Issues)
Ore
4 X
5
1930
Various
1912-1920
1914-1920
1913-1921
1940
1911-1925
1911-1923
1926-1950
5
dl925-1940
5
1915-1939
4H
4 yi
1911-1920
1911-1930
5tf dl911-1920
6
1916-1920
5
1912-1920
5
dl920-1950
4
6
5
1930
dl925-1940
1911-1922
4
1911-1930
1940
6
5
4
6
dl925-1930
1911-1950
Sch. Dlst., Ark
Twp. High S. D., Ill— 4H
6
Miss
1939
1912-1931
1915-1923
1930
,1915-1930
S. D. No. 207, Ill— 5
4
1911-1930
Mass
1915-1922
4H
River, Ohio
1930
5
355—Rosedale Sch. Dlst., Kan
5
1911-1935
481 ..Rumson Sch. Dlst., N. J
5
1912-1921
Louis Co. S. D.No.18,Minn
481 ..Salem,
-
4H
Ohio—
6
5
5
604.-Samos Sch. Dlst., Mo
481—San Anselmo, Cal
419__San Benito Ind. S. D., Tex
419.-Sand Creek Township, Ind
481 ..Sanders County, Mont
4H
668--Sandusky, Ohio
481 ..Sandusky County, Ohio
000—Sandusky County, Ohio
Francisco, Cal
604.-San Francisco, Cal„
4H
4H
4H
4H
5
4
Joaquin County, Cal
Mass
Mass
604.-Sauk County, Wls
419—Sedalla Sch. Dlst., Mo
481 ..Seminary, Miss
481 ..Seven Mile Sch. Dlst., Ohio
481 ..Sharon, Mass
Ohio (4 Issues)
W7_-Silver Springs, N. Y
Springs, N. Y
419_-Somerset County, Md
Cal
Bethlehem, Pa
Omaha. Neb
747—Spring Hill S. D. No. 4, Kan-
-
Valley, Wls
481-.Stevens Point,
Wls
5
4
4
4
4 H
6
4M
4
4H
5
5
1920-1933
1914-1919
dl915-1950
1911-1923
1919
1911-1915
5
100.83
100
100.117
100
102.742
98
100.88
100.78
100
105.70
100
101.445
100.798
101.07
100
10,000
7,000
10,000
100
4,000
20,000
100
100
97.50
37,0001 100
200,000/
173,0501 Z100
6,790]
1,800
400,000
114,000
32,500
3,500
4,065
/25.000
75,000
66,550
10,000
8,632
6,981
4,143
5,600
7,500
6,500
12,500
10.000
121,000
65,000
30,000
23,000
16,500
20,700
100
102.133
101.37
100.506
102.81
101.301
100
101.201
101,521
101.405
109.446
100
100
104.38
100.001
100.41
100.52
101.166
100
100.75
5,000
85,000
15.000
100
100
12,000
25,000
100
6,000
4,100
60,000
102.77
93.08
250,000
25,000
100.011
45,000
12,000 t/100.258
20.000 ylOl.02
10,000
100.19
8,000
102.243
100
13,900
101.272
25,000
100.17
125,000
14,000
104.521
1,200
101.24
32,000
100
12,500
6,600
130,000 100
400
10,500
6,348
100.714
100.74
123,000
1911-1919
1911-1938
1916-1925
(11920-1930
1930
1911-1924
1911-1920
1912-1939
1915-1926
1925-1949
1911-1950
4H (11920-1940
5 X dl915-1920
1911-1918
4H
6
1911-1920
5
1911-1920
4H
50,000
185,328
150,000
15,000
1,920
7,000
28,000
30,000
20,000
75,000
4,000
125,000
10,000
5,000
480,000
105,000
32,000
25,627
53,000
25,000
99
100
ZlOO
181,000
4H
4H
6
28,000
(12,000
4H
Va
Dakota (14 Issues)
481 ..San
100
.
101.98
5,200
105.523
6,500
5,000
100
20,000
100
15,000
100.362
82,740
100.725
12,000
100
17,000
50,000 102.5715
100
2,250
60,000
88,1001; 100
_.
.
114,000
20,000
435,000
3,400
2.500
13,000
45,000
30.000
8,000
25,000
25,000
5,940
10,000
15,000
60,000
4.500
—
York City
100,000 /100.136
25,000
—
—
100.153
50,000
96
35,000
104.956
8,000
103
11,500
75,000 Z100
100.50
20,000
100.31
100,000
102.98
30,000
100
70,000
100.25
2,000
100.115
10,400
100
2,000
100.925
9,000
100.102
34,000
103.59
25,000
100.118
12,000
100
12,000
12,000
100
9,000
7,500
15,000
dl920-1950
4H
.5
5
101.10
9,500
Amount
800J
al916
—
18,000
1,000
30,000
4.70
-4 X 1935&1940
5
1930
5
5
1923-1925
4
1911-1919
.
—
1911-1915
5
.
101.11
dl»15-1940
_
415. I Cincinnati, Ohio.
477.
415.
351.
601.
—
Price.
Amount.
LXXXXI
77,000
500.000
9,0001
lbV.5(
100.31
28,000/
20.000
65,000
10,000
7,000
20,000
15,960
14,0001
6,000/
25,000
20.000
21,000
203,300
4,000
5,000
15 000
100
100
fo’f.si
100
ioi.4:
100.1(
101W
102.7;
102.0;
100
10Q
102. ‘
100.6
419.5utimler,it
Sept. 17 lit 10.1
441199..WWeilstacmhser
Patje.
Name.
I late.
Maturity.
6
Okla. (2 Issues)
1935
County, Ohio (2 Issues) 5
543_.Sussex County, N. J
4
1940
§43.-Sutton, Neb.
5
41915-1930
5
419__Swoyer8Vllle Sch. Dlst., Pa
1911-1920
482_.Syracuse, N. Y
4H
482_ .Syracuse, N. Y
1911-1915
4H
1932
419._Tarentum, Pa
4H
419_-Terre Haute, Ind
4
1930
419_.Terrell County Com. Sch. Dlst.
44721417098756068..-.WKCSHMFDBHeruaoamfvhraosctlliodnrdwwgtyt,en,,
5
6
5
5
889--Thermopolls, Wyo
543_ .Tomah, Wls
5
5
1930-1935
1913
4*
1917-1921
5
5
5
5
5
1911-1920
1911-1920
1920
4
1916-1930
356_-Wlnthrop, Mass
4
605.-Wooster, Ohio
4H
1921-1930
1929-1931
68405.-SKPOHLaxmfsdtylierongpv,
670--Wichita, Kan
670. .Wichita, Kan
670_-Wichita, Kan
Un. High S. D., Cal__
.Willoughby, Ohio (3 Issues)
4H
748-.Wilmont,
356
544
420
Mlnn._
—
5
Yakima Co. S. D. No. 91, Wash. 6
Yellowstone County S. D. No.
14, Mont.
5
10,000
15,000
L923, ’24&*25
-
County, N. Y
419.-Westchester County, N. Y
419.-Westfield, N. Y
543.. West New York, N. J
Amount.
Price.
75,000
103.511
43,500
14,500
101.002
99.871
19,500
15,000
100.526
160,000
27,000
100.081
10,000
40,000
102.781
41915-1950
41921-1930
543-.Tornah. Wls
1920-1923
669--Turlock Irrigation District, Cal. 5
1931-1940
543.-Tuscola, Ill
1914-1926
4H
419
1911-1920
4H
669 .Walker Co. Com. S. D.No.3,Tex 5
41920-1930
604 .Walthlll, Neb
482 .Waynesburg Spec. S.D., Ohlo__ 4
1915-1929
604 .Wellsvllle Un. Fr. S. D. No. 1.
4 H
5
419__West, Tex
41920-1940
419.
4608 ..5Unskitayt,o n,
54.Weilcyobxurn,
THE CHRONICLE
41911-1930
1920
605..Yellowstone County S. D. No.
5
8, Mont
41915-1920
544
Yonkers, N. Y. (3 Issues)
1911-1930
4H
544
1911-1920
4«
483 .Youngstown, Ohio (2 Issues)
5
1911-1915
483 .Youngstown, Ohio (3 Issues)
5
1912-1916
356 .Youngstown, Ohio (6 Issues)
5
100
6,000) 1/100
8,000/
100,000
12,500
3,400
1,200
22,500
15,000
100
97 50
123,0601
175,000) 100
25.000J
7,175
3,500
119,000
17,900
1,975
5,775
35,730
Name.
Sask__
484_.Saskatoon, Sask_.
484_-Saskatoon, Sask__
484__Semans, Sask
606__Stettler, Alta. (2 If
545_-Swift Current S. D
Sask
750-_Venn, Sas*
545__Walnwrlght S.D.N
606__ Westmount, Que_.
Sask...
671 ..Whitby, Ont
Sask
-
Rate.
4H
5
5
6
5 H
6
.
.
_
-
.
5H
-
6
.
.
.
.
.
5
4
5
5
Maturity.
Amount.
1940
1940
1920
1925
503,000)
30,000)
98.72
88.000J
2,000
100.151
20,500
103.30
10,000
2,000
1911-1930
1930
1911-1925
1911-1925
1911-1930
1,500
18,000
70,000
25,000
8,550
1,400
1954
1935
1911-1930
Total Canada.
Price
97
100
.$1,256,063
ADDITIONAL SALES OF DEBENTURES POR PREVIOUS
MONTHS.
100
100
56,000 1/101.21
100
6,000
109.76
30,618
13,122
100.544
10,000
100.25
100
5,000
25,000
9,500
3,000
20,000
13,000
13,000
5,500
Page.
739
102.15
103.757
100.632
105.40
102.711
100
100
101.762
100.562
Page.
Name.
Rate.
483.-Arrawanna S. D. No. 2164,Alta. 5 H
420__Canora, Sask
5 X
356__Hoey S. D. No. 2495, Sask(June)5^
484..Knoll Hill S. D, No. 2554, Sask. 5 H
421_.McTaggart, Sask
6
545__Oakshela S. D. No. 2458, Sask.
(May)
5tf
Maturity.
1920
1911-1930
1920
1911-1920
1911-1920
Amount.
$1,500
6,000
Price.
100
800
100
100.40
1,400
2,500
1911
2,000
100.925
All the above sales (except as indicated) are for
July.
These additional July issues will make the total sales
of debentures for that month
$1,503,113.
News Items.
Illinois.—Representative Brown Acquitted of Bribery Charge
by Cook County Jury.—The second trial in Cook County of
Lee O’Neill Browne of Ottawa, on the
charge of having bribed
Charles A. White of O’Fallen to vote for William Lorimer
for United States Senator, ended
Sept. 9, the
jury on that
day having reached a verdict of “not guilty.” As stated in
V. 91, p. 49, the jury failed to reach a verdict at the time
Representative Browne was first tried in June.
Total bond sales for August 1910 (289 municipali¬
ties covering 383 separate Issues)
*313,165,868
Pittsburg, Crawford County, Kan.—Suit Brought to Enjoin
Issuance of Water Bonds.—On Sept. 10 J. B. Smith and Fred
a Average dates of maturity,
4 Subject to call In and after the earlier
H. Fitch, property owners of
year and mature In the later year,
k Not Including $7,482,666 of tem¬
Pittsburg, Kan., filed suit in
porary loans reported and which do not belong In the list,
x Taken by
the Circuit Court of the United
States, Third Division of
sinking fund as an Investment,
y And other considerations.
Kansas, to restrain the issuance by the city of the $300,000
REVISED TOTALS FOR PREVIOUS MONTHS.
4)^% bonds voted July 12 for the construction of a municipal
water plant.
See V. 91, p. 231.
The following items, included in our totals for
previous
The bill filed alleges that the Act under which bonds are
months, should be eliminated from the same. We give the
page number of the issue of our paper in which the reasons proposed to be issued was not properly passed by the Legis¬
A private company at
lature.
for these eliminations may be found.
present furnishes water
service.
The franchise of this company
Page.
Name of Municipality.
provides that the
Amount.
414-_Bushnell, Ill. (June list)
city may acquire its property at appraised value. The city,
$25,000
478__Fort Smith and Van Buren Bridge Dlst., Ark. (July list)-.
650,000
however, has not endeavored to avail itself of this right to
Mont. (May list)
15,000
School Dlst., Ohio (June list)
purchase, but arbitrarily proposes to destroy the value of
6,500
417_-Milwaukee, Wls. (3 Issues) (July list)
480,000
present investment. Harkless & Histed and Meservey &
745--Oxford School District, Ohio (July list)
20,000
German of Kansas City, Mo., and J. J.
482.-Wellsvllle Union Free Sch. Dlst. No. 1, N. Y. (4 Issues,
Campbell of Pitts¬
June list)
56,000
burg, Kan., appear as attorneys upon the above bill.
We have also learned of the following additional sales for
Texas.—Legislature Adjourns.—The fourth called session
of the thirty-first Legislature of this State ended at 10 a.
previous months:
m.
Page.
Name.
Rate.
Sept. 10. See V. 91, p. 476.
Amount
Maturity.
Price.
414.-Akron, Iowa
(June)
5
5H
X
665.-Allen County, Ind
4
414. .Anaheim, Cal
5
Co. Sch. Dlst. No.
23, Mont
6
740--Bullock County, Ala
5
5
Wls
414. .Carbon Co. S. D. No. 1, Mont_. 5
l. 5
Spgs. S. D. No. 11,Col.
415_.David City, Neb
5
5
City, Neb
Utah
5
478_.Fort Smith Spec. Sch. Dlst.,Ark.5
k.5
416. .Fulton. N. Y
6
742.-Greene Ind. S. D., Iowa
5
Park. Mich
3 H
(27 Issues)
479__Lenzburg S. D. No. 43, Ill.
5
479. .Lockhaven, Pa
3H
744-- Middletown, Conn
4
Ohio
4
Wash. (21 Issues)
7
Wash
6
543.-Tallahassee, Fla. (2 Issues)
5
543. .Thurmont, Md
5
669.-Twin Twp. Sch. Dlst., Ohio
5
-
41915-1920
_
.
.
.
_
.
.
.
.
1911-1925
41915-1920
1940
1912-1921
41925-1930
41920-1930
41915-1930
41920-1930
1930
1912-1919
_
-
.
.
.
.
.
_
Mass
All the above sales
These additional July
4
_
(except
11,000
100,000
102
100
101.64
,
100
102
bas.
100
101.58
20,000)
100
5,750
100
100
20,000j
7,500
100.08
100
50,000 *100
-
-
1,000
30,000
10,000
200.000
6,238
_
_
$10,000
40,000
7,500
41912-1920
1930
1915-1926
1915&1920
1915
41920-1960
41915-1930
1911-1917
1920
100
267.500
5,536 4 %%bas.
100
8,500
100
35,000
100
4,000
777,840
13,168
30,000
18,000
6,500
75,000
100
100
102.89
100.82
indicated) are for July.
issues will make the total sales (not
including temporary loans) for that month $35,101,568.
as
BONDS SOLD BY CANADIAN MUNICIPALITIES.
Page.
Name.
Rate.
483--Aberdeen. Sask
6
544. .Adanac, Saak
5 M
420__Araprlor, Ont
4H
420.-Aylmer, Ont
5
544_.Bowden School District. Sask.. 6
544__Camrose, Alta. (8 Issues)
5
421__Deloralne, Man
483—Dundas, Ont
421_.Dunnvllle, Ont
483.-Edmonton S. D. No. 7, Alta...
483-.Edmonton S. D. No. 7, Alta
544.-Fredericton, N. B
483—GlenhUl Sch. Dlst., Sask
County, Ont
B.C
671 ..Kelowna, B. C
484__Kelross, Sask
484__Lakevlew Municipality No. 337,
Sask
5
4 H
4 H
5
5
4
6
5
5
5
5Hi
5
Township, Ont
5
671--Maple Creek S. D. No. 80, Sask. 5
421—Markdale, Ont
5
Centre Sch. Dlst., Sask.
Sound, Ont_.
5
421—Penetangulshene, Ont. (4 Issues) 5
421 ..Pipestone, Man
4
Sch. Dlst., Sask
6
606—Rlchard Rural S. D. No. 1092,
Man
5
545—Rocanvllle, Sask
John. If. B
671—Saltfleet, Ont
4
5
Maturity.
Amount.
1911-1925
1911-1925
1940
$1,500
1911-1940
1920
1911-1930
1910-1929
1911-1930
1911-1930
1911-1940
1911-1920
1911-1930
1911-1920
1911-1930
1920
1935
1911-1930
1930
1925
1911-1940
1935
1911-1930
1930
1911-1920
1930
"1935"
1930
3,700
14,000
21,000
1,500
33,500
6,000
7,000
10,000
Price.
100
98.761
100
95.50
100.303
98.112
8,000
12,000
10,000
7,500
12,000
5,000
1,200
30,000
31,653
10,000
2,300
7,500
3,500
24,500
9,260
are
Storm Sewer Bonds.
Sub-District No. 2 of the Capitol Hill Storm Sewer District No.
1, Bond
No. 8.
North Denver Storm Sewer District No. 1, Bonds Nos. 139 to
158, in¬
clusive.
South Capitol Hill Storm Sewer District No. 2, Bonds Nos. 41
to 43,
Inclusive.
Sanitary Sewer Bonds.
Sub-District No. 8 of the East Side Sanitary Sewer District No.
l;
Bonds Nos. 68 and 69.
Sub-District No. 11 of the East Side Sanitary Sewer District No.
1,
Bonds Nos. 32 and 33.
Sub-District No. 12 of the East Side Sanitary Sewer District No.
1,
Bonds Nos. 20 to 24, Inclusive.
Highlands Special Sanitary Sewer District No. 7, Bonds Nos. 61 and 62
Highlands Special Sanitary Sewer District No. 8, Bond No. 22.
Morgan’s Capitol Hill Special Sanitary Sewer District, Bond No. 2.
Improvement Bonds.
Cherry Creek Improvement District No. 1, Bond No. 31.
East Denver Improvement District No. 2, Bonds Nos. 201 to
208, In¬
clusive.
East Denver Improvement District No. 3, Bond No. 49.
East Denver Improvement District No. 4, Bonds Nos. 40
and 41.
Evans Improvement District, Bond No. 38.
Highlands Improvement District No. 1, Bonds Nos. 60 and 61.
North Side Improvement District No. 1, Bonds Nos. 63 and 64.
North Side Improvement District No. 2, Bond No. 26.
North Side Improvement District No. 4, Bonds Nos. 14 and 15.
North Side Improvement District No. 6, Bonds Nos. 25 to
28, Inclusive.
Ogden Street Improvement District No. 1, Bond No. 16.
Sherman Street improvement District No. 1, Bonds Nos. 14
and 15.
South Capitol Hill improvement District No. 1, Bonds
Nos. 79 to 86,
Inclusive.
South Side Improvement District No. 1, Bonds Nos. 71 to
73, Inclusive.
Thirteenth Street Improvement District No. 1, Bond No.
29.
West Denver Improvement District No. 1. Bonds Nos. 109
ta 117
.
115,000)
30,000/
20,000 4 K%bas.
2,500
20,000
16,000
Bond Calls and Redemptions.
Denver, Colo.—Bond Call.—The following bonds
called for payment Sept. 30:
99.28
97.016
Inclusive.
Paving Bonds.
Alley Paving District No. 5, Bond No. 19.
Alley Paving District No. 8, Bond No. 14.
Alley Paving District No. 10, Bond No. 13.
Alley Paving District No. 14, Bonds Nos. 6 to 9, Inclusive
Alley Paving District No. 15, Bond No. 9.
Broadway Paving District No. 1, Bond No. 89.
Broadway Paving District No. 3, Bond No. 30.
Fifteenth Street Paving District No. 2, Bond No. 16.
Viaduct Bonds.
Fourteenth Street Viaduct District, Bonds Nos
Park Bonds.
Bond No. 277.
844 to 846, Inclusive.
_
98.283
104.593
Highland Park District,
Upon the request of the holders of any of the above bonds received the
days before the expiration of this call, the Treasurer will arrange for their
payment at the Mercantile Trust Co., New York City, but not otherwise.
96.146
Republic of Ouba.—Bond Call.—Call is made for payment
Oct. 1 at the office of
Speyer & Co. in New York City of 773
bonds, the numbers of which will be found in the advertise¬
97.50
ment
printed in last week’s “Chronicle.”
,
■
THE CHRONICLE
740
Bond Proposals and Negotiations this week
have been
as
[VOL.
LXXXX1
Brookings County (P. O. Brookings), So. Dak.—Bond
Election.—Aproposition to issue $100,000 court-house bonds
will be submitted to a vote of the
follows:
Akron School District (P. 0. Akron), Ohio.—Bond Offering.—Proposals will be received until 5 p.m. Oct. 4 by J. F.
Barnhart, Clerk of Board of Education, for $55,000 4%
school-completion and equipment bonds.
Authority Sections 7625, .7629 and 7630, General Code.
Denomination
Interest semi-annually at the Treasurers
$1,000.
Date Oct. 10 1910.
office.
Maturity $30,000 Oct. 10 1928 and $25,000 Oct. 10 1929.
people on Nov. 8.
Broadwater County School District No. 23, Mont.—Bond
Salt.^ An issue of $1,000 6% 5-10-year (optional) building
bonds was disposed of on July 2 to the State Board of Land
Commissioners at par.
Denomination $200. Date July 15
1910.
Interest annual.
Brownsville, Cameron County, Texas.—Bonds Registered.
—The State Comptroller on Sept. 1 registered the $15,000
Albertville, Marshall County, Ala.—Bond Offering.—Pro¬ water-works and $15,000 electric-light 5% 20-40-year (op¬
posals will be received until Sept. 20 for $25,000 5% water¬ tional) bonds voted on Aug. 2. V. 91, p. 414.
works bonds.
Bryan County (P. O. Durant), Okla.—Bond Election Pro¬
Authority vote of 130 "for” to 20 "against" on Aug. 15 1910. Interest
posed.—Papers
state that petitions are being circulated ask¬
semi-annual.
Maturity 30 years from Sept. 1 1910.
W. P. Goodwin Is
ing the County Commissioners to call an election for the
Mayor.
of voting on the question of issuing $160,000 court¬
Alliance, Boxbutte County, Neb.—Bond Sale.—The three purpose
house and jail-building bonds.
issues of 10-20-year (optional) bonds, aggregating $95,000,
Buffalo, N. Y.—Bonds Not Sold.—There were no bidders
offered without success on May 16 (V. 91, p. 49), have been
on Sept. 6 for the three issues of 4% registered
bonds aggre¬
sold to the State of Nebraska.
gating $1,303,810 20, described in V. 91, p. 601.
Bond Issue.—The issuance of $100,000 4% 1-20-year
Alvarado, Johnson County, Tex.—Bond Sale.—The
$18,000 5% 5-40-year (optional) high-school-building bonds (serial) municipal-building bonds has been authorized.
voted on March 31 (V. 90, p. 1055) and registered on July 8 Under the terms of the ordinance the bonds are to be taken
by the State Comptroller (v. 9l, p. 287,) were sold on Aug. 1 by the City Comptroller at par in trust for the sinking funds.
to the First National Bank of Alvarado at par,
The bonds
at the City
are
dated Oct. 1 1910.
Interest semi-annually
Comptroller’s office.
Amador (P. O. Lindstrom), Chisago County, Minn—Bond
Bullock County (P. O. Union Springs), Ala.—Bond Sale.—
Sale.—An issue of $1,000 5% bonds, proposals for which
were asked until Aug. 8, has been purchased
by Amanda Otto Marx <fc Co. of Birmingham purchased $30,000 5%
30-year road bonds on July 15 at 102 and interest—a basis
Alinquist at par.
of about 4.873%.
Denomination $1,000. Date July 1
Aransas Pass, San Patricio County, Texas.—Bonds Voted. 1910.
Interest semi-annual.
—The election held Aug. 30 resulted in a vote of 56i “for” to
Burbank School District, Santa Clara County, Cal.—Bond
4 “against” the proposition to issue the $25,000 5% 20-40Offering.—-Proposals will be received until 11 a. m. Sept. 19
year (optional) water-works bonds mentioned in V. 91, p.350.
by Henry M. Ayer, Chairman of Board of Supervisors
Bakersfield School District (P. O. Bakersfield), Kern (P. G. San Jose) for $4,000 5}^% coupon bonds.
$1,000.
Interest from Sept. 1 1910 payable semi-annually
County, Cal.—Bonds Voted.—An election held Aug. 25 re¬ at Denomination
the County Treasurer’s office.
Maturity $1,000 yearly from 1918 to 1921
sulted in favor of issuing school bonds.
The vote is reported Inclusive.
Bids must be unconditional and accompanied by certified check
as 35 “for” to none “against.”
for 5% of bonds bid for. payable to Henry A. Poster, ex-offlclo Clerk of
Board of Supervisors.
Purchaser to pay accrued Interest.
Barberton, Ohio.—Bond Election Proposed.—The City
Burlington, Alamance County, No. Caro.—Bond Offering.
Council has been petitioned to call an election for Oct. 3 to —This
city is offering at private sale the $60,000 5% coupon
allow the voters to determine whether or not $50,000 bonds street and sidewalk bonds which failed to sell on June 6.
shall be issued for the purchase of Lake Anna.
See V. 91,
p.
Belgrade, Nance County, Neb.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Sept. 19 by Chas. F.
Eggleston, Village Clerk, for $14,500 water and $3,500
electric-light 5% bonds.
Denomination
$500.
Date June 1
fiscal agency of the State of Nebraska
years, subject to ball after 5 years.
1910.
Interest annually at the
In New York City. Maturity 20
288.
Burlington Union Free School District (P. O. Burlington),
Racine County, Wis.—Bonds Voted.—This district recently
voted to issue $10,000 5% coupon school-building bonds.
It has not yet been decided when these bonds will be offered
for sale.
Denomination $500. Date Nov. 1 1910. Interest annually on Feb. 1
Burlington. Maturity $1,000 yearly from 1912 to 1916 inclusive and
No debt at present. Assessed valuation, $2,500,000.
$5,000 in 1917.
In
Beloit School District
(P. O. Beloit), Mahoning County,
Defeated.—An election held in this district on
Aug. 27 resulted in the defeat of a proposition to issue $1,000
bonds.
The vote was 18 “for” to 29 “against.”
Ohio.—Bonds
Beliefontaine School Dtettict (P. O. Beliefontaine), Logan
County, Ohio.—Bonds Voted.—An election held Aug. 29
resulted in a vote of 347 to 164 in favor of a proposition to
issue $35,000 school-building bonds.
Bums School District (P. O. Bums), Harney County,
—Bonds Voted.—According to reports, an election
Ore.
held
recently resulted in favor of a proposition to issue $35,000
school-site and building bonds.
Cadis School District (P. O. Cadiz), Trigg County, Ky.—
Bonds Defeated.—We are advised that a bond issue of $12,000
for building purposes failed to carry at an election held Aug.
6, but that the proposition will be submitted again next
Belle Fourche, Butte County, So. Dak.—Bond Offering.—
Further details are at hand relative to the offering on Sept. 20
month.
$50,000 5% water-works-construction bonds men¬
tioned in V. 91, p. 600.
Proposals will be received until 2
p. m. on that day*by R. O. Fellows, City Auditor.
—Reports state that the City Council is considering the ad¬
visability of calling an election to vote on the question of
of the
Caldwell, Burleson County, Tex.—Bond Election Proposed.
issuing about $5,000 bonds for the erection of a steel stand¬
pipe for the water-works system.
Callaway, Custer County, Neb.—Bond Election.—An elec¬
tion will be held Sept. 26 to vote on the question of issuing
$6,000 6% water-main-extension and improvement bonds.
Maturity 20 years, subject to call after 10 years.
Bessemer, Jefferson County, Ala.—Bonds Authorized.—
Cambrain School District (P. O. San Jose), Santa Clara
It is stated that $8,000 bonds were authorized at a meeting
County,
Cal.—Bonds Voted.—An election held Aug. 9 re¬
of the City Council held Sept. 6.
sulted in a vote of 36 “for” to 3 “against” a proposition to
Biggs, Butte County, Cal.—Bonds Proposed.—According issue $5,000 5% school-house-construction bonds. Ma¬
to reports, a committee has been appointed to attend the
turity from 5 to 10 years.
next meeting of the Council and confer with the trustees in
Caney, Montgomery County, Kan.—Bonds Voted.—
regard to bonding the town for “at least $12,000,” to con¬ Papers state that the issuance of $20,000 bonds to aid in the
struct a sewer system.
construction of the Cherry vale Oklahoma & Texas RR. from
Boise, Idaho.—Bond Sale.—On Sept. 6 the $12,830 7% Caney, Kan., southwest through Oklahoma, was authorized
1-10-year (serial) gold coupon Paving District No, 12 assess¬ at a recent election by a vote of 272 to 8.
ment bonds described in V. 91, p. 600, were sold to Lucius
Cannon Falls School District (P. O. Cannon Falls), GoodA. Trowbridge for $12,903—the price thus being 100.568.
hue County, Minn.—Bonds Voted.—An election held Aug. 30
resulted in favor of a proposition to issue $30,000 4% school¬
Bracken County (P. O. Brooksville), Ky.—Bonds Not Yet
Maturity part yearly to and including 1930.
Sold.—The Chairman, Board of County Commissioners, building bonds.
The vote was 113 “for” to 43 “against.”
writes us under date of Sept. 9 that no sale has yet been made
Canton, Ohio.—Bond Offering.—Proposals will be received
of the $3,000 bonds—the unsold portion of the issue of
$12,000 4% 5-10-year (serial) coupon funding bonds men¬ until 12 m. Sept. 19 by E. C. Brumbaugh,(City Auditor, for
the following 4^% bonds:
tioned in V. 91, p. 288.
Authority Section 1391, Political Code of 1903, and Section 1, Chapter
173, Session Laws of 1905.
Denomination $500. Date, “time of Issue.’
Interest semi-annual.
Maturity 20 years, subject to call upon any semi¬
annual Interest day after 10 years.
Bonds are exempt from taxation. No
bonded debt at present.
Floating debt (warrants), $15,922 75. Assessed
valuation 1910, $582,832.
Heal value (estimated), $2,331,328.
Brady Independent School District (P. O. Brady), Mc-
CullochACounty, Tex.—Bond Sale.—This district on Sept. 1
sold $4,000 of the $8,000 5% 5-40-year (optional) coupon
bonds described in V. 91, p. 288, to the State School Fund
at par and interest.
As stated in V. 91, p. 414, the State
bought the other $4,000 on Aug. 1.
PBroken Arrow, Okla.—Bonds Not Yet Sold.—No sale has
yet been made of the $37,000 6% 25-year coupon water¬
works bonds offered
July 11.
without
success
(V. 91,
p.
166)
on
$7,300 englne-house-repalr and furnishing bonds. Denomination $1,000,
except one bond for $300." Maturity 10 years.
Denomi¬
125,000 water-works-system extension and Improvement bonds.
nation $1,000.
Maturity 20 years.
1,500 St. Elmo Street sewer-construction bonds.
Denominations $1,000
and $500.
Maturity $1,000 In 3 years and $500 In 5 years.
1,300 Cedar Street and Dewalt Street storm-water-sewer-eonstruotlon
bonds.
Denominations $1,000 and $300.
Maturity 10 years.
1,200 Dorn Alley sewer-construction bonds.
Denomination $1,000 and
$200.
Maturity $1,000 In 3 years and $200 In 5 years.
2,100 Warner Ave. and Eighth Street sewer-construction bonds. De¬
nomination $1,000 and $100.
Maturity $1,000 in 3 years, $1,000
in 4 years and $100 In 5 years.
Date Sept. 1 1910.
Interest semi-annual. Certified check on a bank In
Canton for 5% ot bonds bid for, payable to the City Treasurer, Is required.
Purchaser to furnish blank bonds at his own expense.
BEPT. 17
1010.1
THE CHRONICLE
Carmen, Alfalfa County, Okla.—Bond Offering.—Proposals
Conneaut Lake, Crawford
6% 25-year W. A. Me Master of Jamestown, County, Pa.—Bond Sale.—
offering par, was the success¬
Authority ful bidder on Sept. 10 for the $7,000 5%
registered water¬
Aug. 29 1910.
works bonds described in V.
91, p. 601. Maturity part on
Celina, Mercer County, Ohio.—Bond Offering.—Proposals Oct. 1 in every even year from 1916 to 1936
inclusive.
Will be received until 12 m.
Sept. 20 by J. M. Winter, village
Connellsville
School
District
(P. O. ConnellsviHe), Fayette
Clerk, for $20,000 4% coupon refunding bonds.
Denomination $»5Q0. Date May 1 1010. Interest payable at the Village County, Pa.—Rbnd Sale.—On Sept. 8 the $34,000 43^%
Treasurer’s office.
Maturity part yearly from 1018 to 1822 Inclusive.
coupon high-school bonds, bids for which were received on
Deposit of $200 Is required.
Sept. 3, were sold to Ussing, Scoville & Co. at 101.507 and
Champaign County (P. O. Urbana), Ohio.—Bonds Author¬ accrued interest. A list of the bidders
follows:
ized.—The County Commissioners, it is
stated, on Aug. 22 UsstngjSoovlUe it Go-. ..$34,512 66 N. W. Harris & Co.,
N. Y $34,266 22
ordered the issuance of
will be reoeived until Sept. 20 for the
$15,000
water and light bonds mentioned in V.
91, p. 477.
vote of 79 to 1 at election held
$8,000 bonds to pay the county's
share of the purchase of
property east of Springfield to be
used for a tuberculosis hospital by the counties of Cham¬
paign, Clark and Madison.
Ohanute, Neosho County, Kan.—Bond Election.—An elec¬
tion will be held to-day (Sept. 17) to vote on the
question
of issuing $75,000
water-works-system improvement bonds.
Chatham, Pittsylvania County, Va.—Bonds Not Sold.—
No satisfactory bids were received on
Sept. 5 for the $10,000
5% 30-year coupon street and school bonds described in
V.
B. S. Wheeler, Pittsburgh 34.384 20
Washington Inv. Co., Pitt 34,186 10
J. S. & W. S. Kuhn. Inc.,
Western Reserve Invest¬
Pittsburgh -i34,332 52
ment Co..
The bonds mature $5,000 yearly on Oct. 1 from Pittsburgh.. 34,186 10
1922 to 1927 inclusive
and $4,600 on Oct. 1 1928 and are described In
V. 91, p. 540.
Connersville, Fayette County, Ind.—Bond
Proposals will be received until 2 p. m. Sept. 19Offeririg.—
by Wm.
Reeder, City Clerk, for $20,000 4% coupon water-worksimprovement bonds.
Denomination $500.
Interest semi-annually at the First National Bank
Dec. 1 from 1915 to 1924 Inclusive.
In Connersville.
Maturity $2,000
Bonds are exempt from all taxes.
91, p. 601. E. S. Reid of the Finance Committee is now
Copiah County (P. O. Hazlehurst), Miss.—Bond Offering.
offering them at private sale.
—Papers report that at the regular meeting of the Board
Chester (P. O. Chester Depot), Windsor
County, Vt.— of County Supervisors in October proposals will be received
Bonds Voted.—This town recently
voted to issue $25,000 4% for $75,000 road-improvement bonds.
registered school-building bonds. It has not yet been de¬
Cordele, Crisp County, Ga.—Bond Election.—An election
cided when these bonds will be offered for sale.
will be held Sept. 23, it is
stated, for the purpose of voting
Date July 1 1910.
Interest semi-annually at the Town Treasurer’s
on the question of
office In Chester Depot. “Maturity 1921 or
issuing $10,000 high-school-improvement
any Interest date by giving 30
days notice to holder.”
Bonds are tax-exempt.
present.
C. T. Holt Is Town Treasurer.
No
bonded
debt at
bonds.
Coming, Tehama County, Cal.—Bond Election.—It is
Chicago Junction School District (P. O. Chicago), Huron stated that an election
will be held
County, Ohio.—Bonds Voted.—Dispatches state that a prop¬ question of issuing $22,000 sewer and Oct. 4 to vote on the
$46,200 water bonds.
osition to issue $20,000
school-improvement bonds was favor¬
Corpus
Christi,
Tex.—Bonds
Proposed.—There is talk of
ably voted upon at an election held Sept. 12.
issuing free-public-dock bonds, according to local papers.
Oircleville, Pickaway County, Ohio.—Bond Sale.—On
Creston, Wayne^County, Ohio.—Bond Offering.—Pro¬
Sept. 1 the $4,000 4J/£% 7-10-year (serial) coupon street-imposals will be received until 12 m. Sept. 24 by Chas. A.
Tenney, Village Clerk, for $3,000 5% coupon municipal
Erovement
in V. 91, p.at540,
wereand
purchased
y Seasongood & described
Mayer of Cincinnati
102.40
accrued
electric-light-plant bonds.
interest—a basis of about
bonds
4.163%.
follows:
A list of the bidders
Seasongood & Mayer, Cln
$4,096 Wm. Foresman, Clrclevllle
$4,085
Vinton Banking Co., Vinton.
4,092 Well, Roth & Co., Cincinnati. 4,072
New
_
First Nat. Bank, Colum. 4,086 Hayden, Miller &
Co., Cleve.. 4,045
First Nat. Bank, Cleveland
4,085 First Nat. Bank, Clrclevllle
4,028
Circleville, Pickaway County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Sept. 27 by Fred. R.
Nicholas, City Auditor, for $4,800 4)^% coupon Mill Street
storm-water-sewer improvement bonds.
Authority Section 2835, Revised Statutes.
Denomination $480.
Date
Sept. 1 1910.
Interest semi-annually at the City Treasurer’s office.
Ma¬
turity $960 yearly on Sept. 1 from 1914 to 1918 inclusive. The bonds are
tax-exempt.
Certified check (or cash) for 3% of bonds bid for,
payable to
the City Treasurer, Is required.
Purchaser to pay accrued Interest.
Claremont High School District, Los
Angeles County, Cal.
proposals will be
the Board of County
Supervisors for the $75,000 5% bonds voted (V. 91, p. 288)
on July 19.
Denomination $1,000. Interest semi-annual.
Certified check for 3% of bid is required.
Clear Lake School District (P. O. Clear
Lake), Polk County,
Wis.—No Bonds Voted.—The Clerk, Board of Education in¬
forms us that there is no truth in the
reports that this district
has voted to issue $20,000 bonds.
He adds, however, that
the district may borrow some
money from the State.
—Bond Offering.—Reports state that
received until 2 p. m. Sept. 26
by
Clinton, Laurens County, So. Caro.—Bond Offering.—
Proposals will be received until 12 m. Sept. 20 by W. M.
McMillan, Mayor, for $10,000 5% refunding bonds.
Date Oct. 1 1910.
Interest semi-annually at the National Park Bank In
New York City.
Maturity Oct. 1 1950. Certified check for $500 is re¬
quired.
Coffeyville, Montgomery County, Kan .—Bonds
Defeated.
—The election held
Aug. 2 resulted in the defeat of the propo¬
sition to issue $75,000 water-works bonds
mentioned in
V. 91, p. 289i
Colorado Springs School District No. 11
(P. 0. Colorado
Springs), Colo.—No Bond Election.—We are advised that
there is
no
Sept. 29 to
bonds.
truth in the reports that an election will be held
vote
on
the question of
issuing $45,000 refunding
Colton,
San Bernardino County, Cal.—Description
of
Bonds.—The $63,000 sewer bonds awarded
on July 5 to the
State Board of Examiners (V.
91, p. 167) carry interest at the
rate of 5% and are dated
July 1 1910. The price paid was
101.349 and $350 accrued interest. Denomination
$1,000.
Columbia, Boone County, Mo.—Bond Election.—An elec¬
tion will be held Sept. 27 to vote on the
question of issuing
$125,000 water and light bonds.
Columbus, Platte County, Neb.—Price Paid for Bonds.—
We are advised that par was the
price paid for the $25,000
4
5-15-year (optional) coupon Platte River bridge bonds
purchased last month by the State Treasurer for the State
Board of Educational Lands and Funds. See V.
91, p. 477.
Cohoes, Albany County, N. Y.—Bond Offering.—There
will be offered for sale at 12 m.
at the City Chamber¬
lain’s office the following 4% Sept. 29
registered bonds:
*
$40,000 water-supply Improvement bonds. Date
Aug. 1 1810. Maturity
$10,000 on Aug. 1 in each of the years 1918,
1822, 1924, 1925.
16,000 fire-department-equipment bonds.
Date Aug. 15 1810.
Maturity
$5,000 Aug. 15 1917, $5,000 Aug. 15 1918 ana $6,000
Aug. 15 1928.
Denomination $1,000.
Interest Jan. 1 and July 1 at the United States
Mortgage & Trust Co. In New York City. Bonds are exempt from all
taxes.
fe
,
Authority Section 3939, General Code. Denomination $500. Date
Sept. 1 1910.
Interest semi-annually In Creston.
Maturity $500 yearly
on Sept. 1 from 1915 to 1920
Inclusive.
Certified check for $150, payable
to the Village Treasurer, Is required.
Purchaser to pay accrued interest
and be prepared to take the bonds within 5
days from time of award.
Bonded debt, Including this Issue,
$20,176.
No floating debt.
Assessed
valuation 1910, $332,994.
Crockett County Common School District, Tex.—Bonds
Sept. 1 $5,000 of the $25,000 5%
Awarded in Part.—On
5-40-year (optional) bonds registered
on
Aug. 12 by the
by the
State Comptroller (V. 91, p.
477) were purchased
State at par and interest.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Offering.
—Proposals will be received until 11 a. m. Sept. 24 by the
Board of Commissioners, John F.
Goldenbogen, Clerk, for
$300,000 4% coupon court-house-construction bonds.
Authority Sections 2434, 2435 and 2438, General Code; also election held
Nov. 5 1901.
Denomination $1,000.
Date Oct. 1 1910.
Interest semi¬
annually at the County Treasurer’s office.
Maturity $15,000 yearly on
Oct. 1 from 1911 to 1930 inclusive.
Each bid must be accompanied
by a
bond signed by not less than two disinterested
persons, residents of and
owning real estate In this county, or a certified check, payable to the
County Treasurer, for 1% of bonds bid for.
1
Bonds
Not Sold.—No sale was made on
Sept. 14 of the
$59,000 4% coupon Parma and Royal ton Center Ridge Road
No. 3 bonds described in V. 91,
p. 665.
Deaf Smith County (P. O. Hereford), Tex.—Bond Sale.—
Farson, Son & Co. of New York City recently purchased
$109,000 6% court-house bonds.
Denomination $500.
Date Sept. 1 1910.
Interest Jan. 1 and July 1
banking house of Farson, Son & Co. In New York City or Chicago.
Maturity part yearly on Jan. 1 from 1911 to 1929 Inclusive. Assessed
valuation $7,500,000.
Real value (estimated) $15,000,000.
Total debt,
Including this issue, $128,000.
at the
Do Witt
County Common School District, Texas.—Bonds
Registered.—On Aug. 29 $2,500 5% 10-20-year (optional)
bonds were registered in the State
Comptroller’s office.
Dickson City, Lackawanna
Pa.—Bids Rejected.—
County,
The bids received on Aug. 15 for the
$15,000 5% improve¬
ment bonds described in V.
91, p. 415, were rejected, it is
stated.
Dillon
County (P. O. Dillon), So. Caro.—Bonds Not Sold.—
At a meeting of the Court House Commission held
Sept. 5
it was decided to defer
indefinitely the sale of the $40,000
4% 20-year court-house and jail bonds described in V. 91,
p. 415.
Donora, Washington County, Pa.—Price Paid for Bonds.
—The price paid for the $22,000
4J/£% improvement bonds,
disposed of on Sept. 5 to J. S. <fc W. S. Kuhn, Inc., of Pitts¬
burgh (V. 91, p. 666), was 100.859. The following bids were
received:
J. S. & W. S. Kuhn, Ino.,
Pittsburgh
------_--$22,188 98)
Pittsburgh
_„.$22.15* 20
West^ Res. Ins.Co., Pitt*. 22,153 2C Otis & Hough, Cleveland.
22,056 00
Denomination $1,000. Date A__.
ng.
1 1910. Interest semi-annual.
Maturity $2,000 every even year from 1916 to 1986 Inclusive.
I Washington InvestmentCo.,
_
Duluth,
Minn.—Bonds
Authorized.—An
been passed, it is stated, which
ordinance
has
provides for the issuance of
$50,000 park bonds.
Eaton, Preble County, Ohio.—Bonds Proposed.—Steps are
being taken to issue $7,000 bonds for the purpose of increas¬
ing the water supply.
Effingham, Effingham County, Ill.—Bond Sale.—On
Sept. 6 the $10,000 5% city-hall-construction bonds described
[VOL. LXXXXI.
THE CHRONICLE
742
to the Harris Trust & Savings
and interest—a basis of about
4.716%. A bid of 100.77 and accrued interest was also
received from E. H. Rollins & Sons of Chicago.
Maturity
$1,500 yearly on July 1 from 1915 to 1918 inclusive and
$2,000 on July 1 in each of the years 1919 and 1920.
Georgia.—Temporary Loan.—In order to meet warrants
the Governor has ar¬
ranged to borrow $100,000. It is said that the money will
be borrowed in sums of $25,000 each from the Fourth Na¬
tional Bank, the Atlanta National Bank, the American
National Bank of Atlanta and the American National Bank
Elberton, Elbert County, Ga.—Bonds Voted.—The election
held Sept. 5 resulted in favor of the issuance of the $25,000
5% street-improvement bonds mentioned in V. 91, p. 540.
The vote was 317 “for” to 4 “against.”
Denomination $1,000.
Interest Jan. 1 and July 1 at the office of the
Bonds Registered.—Bonds amounting to $1,400 were regis¬
tered on Aug. 24 by the State Comptroller.
The securities
in V. 91, p. 602, were sold
Bank of Chicago at 101.78
Clerk and Treasurer or at the office of the United States Mortgage & Trust
Co. In New York City.
Maturity $5,000 on Jan. 1 In each of the years
1033, 1935 and 1937 and $10,000 Jan. 1 1940.
W. F. Jones Is City Clerk.
Eldora, Hardin County, Iowa.—No Bond Election.—The
Sept. 12 was not for the purpose of voting on a
proposition to issue light and power bonds, as reported in
some of the papers.
We are advised that the vote was on
the question of granting a franchise to a private company.
election held
Elkton, Brookings County, So. Dak.—Bond Offering.—
Proposals will be received until 8 p. m. Sept. 19 by Fred.W.
Cuckow, City Auditor, for $9,000 5% gas-plant bonds.
Denomination $1,000.
Date Sept. 15 1910.
Interest semi-annually
at the City Treasurer’s office.
Maturity Sept. 15 1930. Certified
on a national bank for 10% of bonds bid for Is required.
Purchaser to
furnish lithograph blank bonds.
Bonds must be taken up *hnd paid for
within 15 days after bid has been accepted.
check
Ellisville, Jones County, Miss .—No Action Yet Taken.—
Up to Aug. 19 nothing had yet been done regarding the
holding of an election to vote on the question of issuing the
•ewer
bonds mentioned in V. 91, p. 167.
El Paso County Common School District, Tex.—Bonds
Registered.—We are informed that bonds aggregating $6,800
were registered by the State Comptroller on Aug. 19.
They
oarry 5% interest and mature in 40 years, but are subject to
call after 20 years.
Enterprise School District, Merced County, Cal.—Bond
Offering.—Proposals will be received until 10 a. m. Sept. 20,
it is stated, by the County Supervisors (P. O. Merced),
for $15,000 5% bonds.
Denomination $1,000.
Essex County (P. O. Newark), N. J.—Bonds Not Sold.—
No bids were received on Aug. 31 for the $200,000 4% 40-year
gold coupon hospital bonds described in V. 91, p. 477.
Euclid, Cuyahoga County, Ohio.—Bond Sale.—Following
is a list of the bidders and the premiums offered by the same
for the $8,383 4^6% coupon Lawnview Ave. improvement
assessment bonds described in V. 91, p. 540:
$101 00
First Nat. Bank, Cleveland--$130 25 Seasongood & Mayer, Cin
85 00
Stacy & Braun, Toledo
118 20 Hayden, Miller & Co., Cleve.
73 00
Tlllotson&WolcottCo.,Cleve- 103 11 Otis & Hough, Cleveland
The bonds mature $383 on Oct. 1 1912 and $1,000 yearly on Oct. 1 from
ltl3 to 1920 inclusive, and are described in V. 91, p. 540.
Evansville, Rock County, Wis.—Bond Sale.—Arrange¬
investors for the sale of the
$8,000 5% 20-year sewer bonds voted (V. 91, p. 289) on
July 19.
ments have been made with local
O. Marlin), Tex.—Bond Election.—Ac¬
cording to reports, the Commissioners’ Court has ordered an
Palls County (P.
election to allow the voters to determine whether or not
$18 ,000 bridge bonds shall
be issued.
Flathead County High School District, Mont.—Bond
Election.—The Board of Trustees has decided to call an elec¬
tion, according to reports, to vote on the question of issuing
$50,000 school bonds.
Flint, Genesee County, Mich.—Bond Sale.—This city
Aug. 29 sold $76,000 5% improvement bonds to H. W.
Noble & Co. of Detroit at par and accrued interest.
Interest
•n
annual.
Florence School District No. 5 (P. O. Florence), Douglas
County, Neb.—Bond Sale.—Local papers state that the Nye
k Turner Co. of Omaha recently purchased $8,000 bonds.
District (P. O. Forreston),
Ellis County, Tex.—Bonds Registered.—On Sept. 7 an issue
•f $11 ,000 5% 10-40-year (optional) bonds was registered
the State Comptroller.
Fort Sumner School District (P. O. Santa Fe), N. Mex.—
No Bond Election.—We are advised that the reports stating
an election would be held Aug. 22 to vote on the question
of issuing $3,500 bonds (V. 91, p. 478) are erroneous, as the
“Board of Education has had no thought of issuing any
Forreston Independent School
■chool bonds.”
Fort Worth, Tex.—Bond
Offering.—This city is offering at
private sale the $100,000
20-40-year (optional) schoolbuilding bonds registered by the State Comptroller (V. 91,
p. 290) on July 18.
Denomination $1,000. Date April 13
1910.
Interest semi-annual.
Freeport School District (P. O. Freeport), Stephenson
County, Ill.—Bonds Voted.—An election held Sept. 6 re¬
sulted in favor of a proposition to issue $50,000 4% building
bonds.
The vote was 1,007 “for” to 75 “against.”
Matur¬
ity $10,000 yearly beginning in 1920.
Galveston County (P. O. Galveston), Tex.—Bonds Regis¬
tered.—Seawall-improvement 5% 20-40-year (optional) bonds
amounting to $100,000 were registered on Aug. 17 by the
State Comptroller.
Galveston County Common School District, Tex.—Bonds
Registered.—An issue of $9,000 5% 10-40-year (optiona1)
bonds was registered by the State Comptroller on Sept. 6.
issued to various State institutions,
of Macon.
Glasscock County Common
carry 5% interest and
to call after 10 years.
School District No. 2, Tex.—
mature in 20 years, but are
subject
Gilbert, Saint Louis County, Minn.—Bonds Authorized.—
According to reports, at a mass-meeting held recently it was
decided to issue $35,000 bonds for a sewerage-system and to
complete the local water-works-system.
Grand Forks, Grand Forks County, No. Dak.—Bond Elec¬
tion.—A resolution was passed Aug. 19 providing that an
election be held Sept. 15 to vote on the question of issuing
$40,000 5% city-hall-erection bonds. Date June 1 1911.
Interest semi-annual.
Rapids, Mich.—Bond Election.—An election will be
(date changed from Sept. 6) to vote on the
question of issuing $200,000 4% 20-year park and play¬
ground bonds.
Grand Valley Irrigation District (P. O. Grand Valley),
Garfield County, Colo.—Bond Sale.—The Willcox Canal Co.
of Grand Valley, offering par and accrued interest, was the
successful bidder on Sept. 8 for the $50,000 6% gold coupon
funding bonds described in V. 91, p. 602. Maturity part
yearly from 1920 to 1930.
Granite City School District (P. O. Granite City), Madison
County, Ill.—Description of Bonds.—The $14,000 5% schooladdition bonds disposed of during June to A. G. Edwards
& Sons of St. Louis (V. 91, p. 52) are in denominations of
$1,000 each and are dated July 1 1910. Interest annually
at the Granite City National Bank of Granite City.
Maturity
$1,000 yearly on July 1 from 1912 to 1919 inclusive and
$2,000 yearly on July 1 from 1920 to 1922 inclusive.
Grayson County Common School District, Texas.-—Bonds
Registered.—The State Comptroller on Aug. 29 registered
$3,000 5% 3-5-year (optional) bonds.
Greene County (P. O. Leakesville), Miss.—Bonds Author¬
ized.—We see it stated that the Board of County Supervisors
has authorized the issuance of $30,000 court-house and
$10,000 jail bonds.
Greene Independent School District (P. O. Greene),
Butler County, Iowa.—Bond Sale.—An issue of $7,500 5%
school-building bonds was disposed of on July 20 to John
Nuveen & Co. of Chicago at par and accrued interest.
De¬
nomination $500.
Date July 15 1910. Interest May 1 and
Nov. 1.
Maturity $500 each six months from May 1 1912
to May 1 1919 inclusive.
Groesbeck Independent School District (P. O. Groesbeck),
Limestone County, Tex.—Bonds Registered.—On Aug. 17
$5,000 5% 5-40-year (optional) bonds were registered by the
State Comptroller.
Grove City, Mercer County, Pa.—Bond Election.—An elec¬
tion will be held in November to vote on the question of
issuing $30,000 funding bonds.
Hamilton, Butler County, Ohio.—Bids—The following
proposals were received on Sept. 6 for the $11,886 50 4Yi%
1-10-year (serial) South Fifth Street improvement assessment
bonds described in V. 91, p. 416:
Grand
held Nov. 8
Premium.
Seasongood & Mayer, Davies & Bertram Co. and
all of Cincinnati
:
Stacy & Braun, Toledo
First National Bank, Cleveland
Breed & Harrison,
—
$120 Of
105 55
92 75
only bid received on Sept. 6 for the six issues of 4%
bonds, aggregating $265,950, also offered on that day
(V. 91, p. 416), was one of par and accrued interest, less a
commission of $3,250, submitted jointly by Seasongood &
Mayer, the Davies & Bertram Co. and Breed & Harrison, all
of Cincinnati.
Reports state that on Sept. 7 a bid of par and
interest, less $2,800 for attorneys’ fees, was submitted by
the Miami Valley National Bank of Hamilton.
We have not yet been advised as to what action was
taken on the above bids.
Hammond, Lake County, Ind.—Bonds Authorized.—Re¬
ports state that the City Council has authorized the issuance
of $80,000 bonds to purchase a park and a new pumping
plant.
Hammond, Tangipahoa Parish, La.—No Action Yet Taken.
—No definite action has yet been taken on the petition that
was presented to the Town Council on July 5 asking for an
election to vote on the proposition to issue bonds to build a
modern school, a sewer system and to refund the outstanding
water-works bonds.
See V. 91, p. 290.
Harden County Common School District, Tex.—Bonds
The
coupon
Registered.—The State Comptroller registered $2,500 5%
10-20-year (optional) bonds of this district on Sept. 6.
Hardin County Road District No. 1, Texas.—Bonds Regis¬
tered.—An issue of $35,000 5% 10-30-year (optional) bonds
was registered by the State Comptroller on Aug. 29.
Hardy, Nuckolls County, Neb.—Bond Sale.—A South
Bend, Ind., company purchased at par and accrued interest
Sept. 17 1910. j
THE CHRONICLE
743
the
$15,000 5% 5-20-year (optional) registered water-works 000
4% 5-40-year (optional) coupon electric-light bonds
on
Aug. 12 and described in V. 91, p. 416.
awarded on Sept. 1 to the Citizens’
& Trust Co. of
Harlingen, Cameron County, Tex.—Bonds Not Sold.—No Jackson (V. 91, p. 602) was 100.10 Savings
and not 101.001 as at
award was made on Aug. 20 of the
$20,000 water-works- first reported. The following bids were received:
construction and the $10,000
street-improvement 5% 20- Citizens’ S.B.&Tr.Co.,Jack^_$13,013 ISeasongood & Mayer, Cl*-- $12,725
40-year (optional) coupon bonds described in V. 91, p. 290. Commercial Bank, Jackson.. 13,000|
We are advised that the Commission has decided to
Jamestown School District (P. O.
apply to
Jamestown), Chau¬
the Attorney-General for
tauqua
County, N. Y.—Bond Election.—A proposition to
authority to offer these bonds at
private sale. Our informant further states that if no delays issue $25,000 school-building-completion and addition bonds
are met with
will be submitted to a vote of the
they will be ready for sale about Oct. 1.
people on Sept. 27.
Jefferson County Common School
Harlowton, Meagher Comity, Mont.—Bond Sale.—On
District, Tex.—Bonds
Sept. 6 the $15,000 10-20-year (optional) coupon water¬ Registered.—Bonds amounting to $12,000 were registered on
works bonds dated Oct. 1 1910 and described in
V. 91, Aug. 16 by the State Comptroller.
They carry 5% interest
p. 478, were sold to C. H. Coffin of Chicago for $15,038 and mature in 20 years, but are subject to call after 10
years.
(100.253) and accrued interest for 6s. A bid of $14,800 was
Jellico, Campbell County, Tenn.—Bonds Voted.—An elec¬
also received from Duke M. Farson of
tion held Sept. 8 resulted in favor of the
Chicago.
proposition to issue
the $90,000 6%
Harrison County (P. O. Gulfport), Miss.—Bonds
20-30-year (optional) water-works and
Author¬
ized.—It is stated that the Board of
bonds mentioned in V. 91, p. 417. The
County Supervisors has sewerage-system
vote was 82 “for” to 30
authorized the issuance of the $50,000
“against.”
5% Road District
No. 2 bonds mentioned in V. 91,
Johnson
City,
p. 108.
Denomination
Washington County, Tenn.—Bonds Not
$500.
Date Jan. 1 1911.
Yet Sold.—The two issues of
Interest annual.
5% coupon normal school
Harris County Common School District No.
31, Tex.— bonds, aggregating $150,000, offered without success on
Description of Bonds.—The $6,000 5% bonds registered by July 9 (V. 91, p. 230) are still unsold, according to a letter
received by us on Sept. 6.
the State Comptroller on June 17
(V. 90, p. 1694) are in de¬
nomination of $150 each.
Date May 18 1910.
Kalamazoo, Mich.—No Bond Election.—The City Auditor
Interest
annually on April 10. Maturity May 18 1950, subject to informs us that there is no truth in the reports that a
propo¬
call after May 18 1930.
sition to issue improvement bonds would be
voted upon on
Haverstraw Union Free School District No.
3, Rockland Sept. 6. He adds, however, that “there is a possibility of
County, N. Y.—Description of Bonds.—We are advised that something being submitted at the regular election in Novem¬
ber.”
the $4,500 building bonds
disposed of on Aug. 31 to G. M.
Carnochan of New City, on a basis of
Kansas.—Bonds Purchased by State
4.49% (V. 91, p.
during August.—The
666), are in denominations of $500 each and mature one following bonds, aggregating $88,900, were
purchased during
bond yearly for 9 years.
Interest semi-annual.
August by the State of Kansas at par:
Heard County (P. O. Franklin), Ga.—Bonds
Cowley
School District No. 42—$1,100 5% school-house bonds,
Defeated.— dated July County
1 1910 and due part yearly on July 1 from 1911 to 1916
An election held
Inclusive.
Aug. 23 resulted in a vote of 210 “for” to
Harper County School District No. 18—$800 5H% school-house bonds
570 “against” propositions to issue
dated Aug. 22 1910 and due part
yearly on Jan. 1 from 1911 to 1914 in¬
$40,000 road and $10,000 clusive.
bridge 5% bonds.
Humboldt, Board of Education—$18,000 5% school-house bonds dated
1 1910 and due part yearly on July 1 from 1912 to 1920
Hecla, Brown County, So. Dak.—Bonds Voted.—An elec¬ July
Inclusive.
Kiowa (City)—$15,000 5% water and
light bonds dated July 1 1910 and
tion held Aug. 29 resulted in favor of a
due July 1 1930.
proposition to issue
$8,500 water-main bonds at not exceeding 6% interest. dueOakley (City)—$40,000 5% water and light bonds dated May 1 1910 and
May 1 1935.
The vote
bonds offered
53 “for” to 31
“against.”
Hemphill County Common School District, Texas.—Bonds
Registered.—On Aug. 30 the State Comptroller registered
was
$12,000 5% 40-year bonds.
Highland Park, Wayne County, Mich.—Bonds Voted.—
The election held Sept. 1 (V.
91, p. 541) resulted in a vote of
36 “for” to 4 “against” the
proposition to issue the $31,000
water bonds.
Hopkinsville, Christian County, Ky.—Bond Sale.—On
Sept. 10 the $15,000 5% coupon high-school bonds described
Rice County Union School District No.
3—$14,000 5% school-house
bonds dated July 1 1910 and due part
yearly on Jan. 1 from 1911 to 1924
Inclusive.
The above bonds are subject to call at
any time.
Kansas City School District (P. O. Kansas
City), JackCounty, Mo.—Bonds Not Yet Sold.—The $750,000 4%
20-year gold coupon school-building bonds voted (V. 91, p.
230) on May 28 are now in the hands of the Treasurer of the
son
School Board for sale.
It is not expected,
issue will be advertised.
Karnes County (P. O. Karnes
tered.—The State Comptroller on
however, that the
City), Tex.—Bonds Regis¬
Sept. 6 registered $6,000
4% 10-20-year (optional) refunding bonds.
chasers to pay accrued interest and the cost of
Kearney, Buffalo County, Neb.—Bonds Not Yet Sold.—
engraving the
bonds.
Up to Sept. 10 no award had yet been made of the $125,000
Hopkinton, Middlesex County,
4^% 5-20-year (optional) water-works bonds offered without
—On Sept. 12 this town borrowed Mass.—Temporary Loan. success (V. 91, p. 291) on
July 22.
$10,000 from O. H. Ray of
Ashland at 4.65% discount.
The loan is due March 15 1911.
Kiowa, Pittsburg County, Okla.—Bond Offering.—Addi¬
tional details are at hand relative to the
Houston Heights, Harris
County, Tex.—Bond Election
offering of the
Proposed.—A petition has been presented to the Mayor and $18,000 6% coupon water and light system repair and ex¬
tension
bonds mentioned in V. 91,
City Council requesting that an election be called to vote on
p. 602.
These securities
the question of
are being offered
at private sale by Geo. E. Pinkston,
issuing $25,000 fire-station-building bonds.
Town Clerk.
Howard County (P. O. Big
Spring), Tex.—Bond Election.—
Denomination $1,000. Date Aug. 1 1910.
Interest
Papers state that the Commissioners’ Court has ordered an place
at
designated by the purchaser. Maturity July 31seml-am&ualiy
1935.
Bonded
election to be held Sept. 26 to vote on the
debt.
Including this Issue, $49,000. Assessed valuation, $360,900.
question of issu¬
ing $100,000 good-road bonds.
Kingsbury, Fresno County, Cal.—Bond Election.—It is
Huntington Park, Los Angeles County, Cal.—Bonds De¬ stated that an election will be held Sept. 22 to rote on a
feated.—We see it stated that a proposition to issue
to issue $26,000 municipal water-works-system
$60,000 proposition
bonds was defeated at an election held
bonds.
Aug. 27.
Huron School District (P. O.
Konawa, Seminole County, Okla.—Bonds Not Ssld.—Up
Huron),
Beadle County,
So. Dak .-^-Purchaser
of Bonds.—The State of South Dakota to Sept. 12 no award had yet been made of the $7,000 citywas the
hall and $3,000 funding
purchaser of the $20,000 building bonds
6% 10-year coupon bonds offered
recently on
disposed of. See V. 91, p. 541. The price
Aug. 27 and described in V. 91, p. 478. We are advised,
paid
was
par
for 5s.
Denomination $1,000. Interest Jan. and
that negotiations are now being carried on for
July. however,
their sale.
Maturity five years.
La Crosse, Wis.—Bond Election
Hyden Graded School District (P. O.
Proposed.—This eity pro¬
Hyden), Leslie
County, Ky.—Bond Offering.—Proposals will
poses to hold an election to vote on the question of
be
received
issuing
until Oct. 1 by H. M.
Brock, Secretary of Board of Educa¬ $50,000 light bonds. Up to Aug. 23, however, no date
had
tion, for $3,500 6% coupon building bonds.
yet been determined upon.
Authority Section 4481, Kentucky Statutes.
Denomination $500.
Date Oct. 1 1910.
Lakewood,
Interest annually In Hyden.
Cuyahoga County, Ohio.—Bond Offering.—
Maturity Oct. 1 1930,
subject to call after 10 years.
Bonds are exempt from all taxes.
Proposals will be received until 12 m. Sept. 19 by B. M. Cook,
Certified
check for $200,
payable to the
No debt at present.
Assessed valuation $177,727. Secretary, Is required.
Village Clerk, for the following 5% paving assessment bonds:
$15,860 Northland Ave. Improvement bonds.
Iredell Independent School District
Denomination $1,586.
3,716 Franklin Ave. Improvement bonds.
(P. O.
Bosque
Denomination $371 60.
Date “day of sale.”
County, Tex.—Bond Offering.—This districtIredell),
Interest
is offering for In
semi-annually at the Cleveland Trust Co.
Cleveland.
sale the $7,000
Maturity one bond of each Issue yearly on Oct. 1 from 1911
5% 10-40-year (optional) bonds registered by to 1920 Inclusive.
Certified
check
for 5% of bid Is required.
the State
Comptroller (V. 91, p. 290) on July 14. De¬
Lauderdale
County
(P.
O.
nomination $500.
Meridian), Miss.—Bond Sale.—
Date April 1 1910.
Interest annual.
On Sept. 6 the $50,000
5% Road District No. 1 bonds
Jacksboro Independent School District
(P. O. Jacksboro), described in V. 91, p. 602, were awarded to S. A. Kean &
Jack County, Tex.—-Ronds
Awarded in Part.—Of the $30,000 Co. of Chicago at 100.10.
Maturity from 1922 to 1925
5% 10-40-year (optional) building bonds voted on March 12 inclusive.
(V. 90, p. 798), $15,000 have been purchased
Lehi School District (P. O.
by the State
Permanent School Fund at
Lehi), Utah County, Utah.—
par and accrued interest.
The Bond Sale.—The
sale of the first $10,000 on
$30,000 school-building bonds voted oa
June 4 was mentioned in V.
90, July 20 (V. 91, p. 291) have been sold.
p. 1627.
The other $5,000 were
purchased on Sept. 1.
Leola Drainage District, Adams County, Wis.—Bond Sals.
Jackson, Jackson County, Ohio.—Price Paid
—This
for
Bonds.—
district has sold $25,000 6% 5-14-year (serial) bonds
The Village Clerk informs us
that the price paid for the $13,- to
Farson, Son & Co. of Chicago.
V: 91, p. 666, were sold to the First National Bank
and the
City Bank & Trust Co., both of Hopkinsville, at par. Pur¬
in
(Voi>. LXXXXI.
THE CHRONICLE
744
Ministee, Manistee County. Mich.—Bond Offering.—Pro¬
posals will be received until 7 p. m. Sept. 20 by J. Roch
Leon, Decatur County, Iowa.—Bond Sale.—Geo. M. Magnan, City Clerk, for $10,000 4>£% coupon refunding
Bechtel & Co. of Davenport, offering par and accrued interest, water-works bonds.
Authority, Section 25, Chapter 26, City Charter. Denomination $500.
were the successful bidders on Sept. 6 for the $5,000 6%
Date Oct. I 1910.
Interest semi-annually at the Treasurer’s office. Ma¬
sewer bonds due in “10 years at option of the city” and the
Bonds Are taxturity Oct. 1 1914. Certified check for $300 is required.
empt.
Official
circular
states that “previous Issues of bonds have never
$10,000 43^% 10-20-year (optional) water-works bonds
been contested and the principal and Interest of all bonds have always
described in V. 91, p. 541.
been promptly paid at maturity; also that no IltlgatlQn or rcontroversy Is
affecting the oorporate existence or boundaries of this munici¬
Liberty, liberty County, Tex.—Bonds Registered.—The threatened
pality; nor has the title of the present officials to their respective offices
State Comptroller registered $10,000 5% school-house bonds or the validity of these bongs been questioned.”
on Aug. 18.
Maturity 40 years, subject to call after 5 years.
Marshall, Harrison County, Tex.—Bonds Not Yet Sold.—
Limestone County Common School District No. 11, Tex — Up to Sept. 6 no award had yet been made of the $50,000
Bonds Registered.—On Aug. 22 the State Comptroller regis¬ 5% 10-40-year (optional) high-school bonds, bids for which
tered $3,000 5% bonds due in 20 years.
were rejected (V. 91, p. 230) on July 12.
Lindaie Independent School District (P. O. Lindale)
Martinos, Contra Costa County, Cal.—Bonds Proposed.—
Smith County, Tex.—Bonds Registered.—On Aug.
19 The City Trustees, according to reports, are considering the
$12,000 5% 10-20-year (optional) bonds were registered by issuance of $100,000 bonds for an adequate fire-protection
the State Comptroller.
system, the acquisition of property and the construction of
Defeated.—Reports
Long Beach, Cal.—Bonds
state that bridges.
propositions to issue bonds aggregating $75,000 were de¬
Marysville (City and Township), Marshall County, Kan.—
Denomination $500
Date Aug. % 1910.
the offloe of Parson, Son A Co. of New York
feated at
an
Interest
City.
semi-annually at
election held recently.
Lorain, Lorain County, Ohio.—Bond Sale.—The following
award was made on Sept. 3 of the two issues of 43^% coupon
bonds described in V. 91, p. 603:
457,000 sewer-construction bonds awarded to Otis & Hough of Cleveland
for $57,487 50—the price thus being 100.855.
Maturity part each
six months from March 15 1912 to
Sept. 15 1921 inclusive.
16,000 street-improvement bonds sold to the Tillotson & Wolcott Co. of
Cleveland for $16,128 75—the price thus being 100.804. Maturity
$1,000 each six months from Sept. 15 1911 to March 15 1918
inclusive and $1,000 on Sept. 15 in each of the years 1919 and 1920.
Purchasers to pay
accrued interest.
District (P. O. Lorena), Mc¬
Registered.—The State Comp¬
troller registered $5,000 5% 20-year bonds on Aug. 8.
Louisville, Ky.—Bonds Awarded in Part.—We are advised,
under date of Sept. 9, that “more than half” of the $500,000
4% gold coupon Louisville Water Co. mortgage bonds offered
without success on July 25 (V. 91, p. 291), have been disposed
of at par and accrued interest.
Our informant further states
that it is expected that the remainder of the issue will be sold
Lorena Independent School
Lennan County, Tex.—Bonds
-
within the next few days.
Lucas County (P. O. Toledo),
Ohio.—Bond Offering.—
Proposals will be received until 10 a. m. Sept. 20 by Chas. J.
Sanzenbacher, County Auditor, for $18,151 66 4% State and
county road-improvement fund bonds.
Denomination $500, except one
semi-annually at the of¬
66 in 1912 and $2,000
yearly from 1913 to 1920 inclusive.
Certified check on a Toledo Bank (or
cash) for $500 Is required.
Bonds will be delivered Sept. 30 1910.
Bond Sale.—On Sept. 12 the $40,000 43^% 1-10-year
Authority Section 1223, General Code.
bond for $151 66.
Date Sept. 30 1910.
Interest
fice of the County Treasurer.
Maturity $2,151
*
(serial) tuberculosis-hospital bonds described in V. 91, p.
were sold to the First National Bank of Cleveland at101.767—a basis of about 4.138%.
A list of the bidders
4367,
follows:
00 Otis & Hough, Cleveland.$40,642
00 Citizens’Safe Dep.ATr.Co. 40,622
00 Tillotson A Wolcott Co.,
Cleveland
40,612
40,684 75
Weii, Roth A Co., Cine.. 40,605
40,682 50 Field, Longstreth A Co.,
Cincinnati
40,602
40,680 75
Provident Savings Bank
A Trust Co., Cln
40,580
40,672 00
40,644 00 Hayden, Miller ACo.,Clev. 40,500
First Nat. Bank, Cleve. .$40,707
Breed A Harrison, Cine. .*40,748
Davies & Bertram Co.,Cine. 40,706
Stacy & Braun, Toledo
Dayton Savings Bank &
Trust Co., Dayton
C. E. Denison & Co., Cleve.
Fifth-Third
Nat.
Bank,
Cincinnati
SeasongoodA Mayer,Cine.
*
00
80
50
00
00
00
95
Bid said to be irregular.
Lynn, Mass.—Temporary Loan.—A loan of $200,000, due
April 3 1911, has been negotiated with Loring, Tolman &
Tupper of Boston at 4.34% discount.
McLean Independent School District (P. O. McLean), Gray
County, Tex.—Bonds Awarded in Part.—On Sept. 1 the
State purchased at par and interest $5,000 of the $25,000 5%
40-year bonds offered but not sold on June 3 (V. 91, p. 53).
This makes $15,000 sold to the State to date, $10,000 having
been purchased on Aug. 1, as stated in V. 91, p. 417.
Madera School District, Madera County, Cal.—Bond
Offering.—Further details are at hand relative to the offering
on Sept. 19 of the $75,000 5% bonds mentioned in V. 91,
p. 667.
Proposals for these securities will be received until
10 a. m. on that day by W. R. Curtin (P. O. Madera), County
Clerk and Clerk of the Board of County Supervisors.
Denominate ms $1,000, $1,500, $2,000 and $3,000.
Interest semi-annual.
Maturity $1,000 yearly from 1 to 10 years inclusive, $1,500 yearly from 11
to 20 years
inclusive, $2,000 yearly from 21 to 30 years inclusive and $3,000
yearly from 31 to 40 years inclusive.
Certified check for 10% of bid is
required.
Mmdan, Morton County, No. Dak.—Bonds Voted.—Ac¬
cording to reports, an election held Aug. 30 resulted in favor
of the issuance of $70,000 water-works bonds.
The vote
was
77 “for” to 30
“against.”
Memphis, Tenn.—Bond Offering.—Proposals will be re¬
ceived until 2:30 p. m. Oct. 11 by Ennis M. Douglass, City
Clerk, for the following coupon street-improvement bonds:
Bond Election.—An election will be held Sept. 20
the question of issuing bonds to build a bridge
to vote on
across the
Big Blue River at the foot of Broadway. The city, it is
stated, will vote upon the issuance of $5,000 bonds for the
bridge, while the township will vote on $3,000 bonds to pay
its
portion.
Massillon School District (P. O. Massillon), Ohio.—Bond
Sale.—The Merchants’ National Bank of Massillon pur¬
chased $10,000 4% school bonds on Sept. 2 at par.
Denomination $500.
Date Sept. 2 1910.
Idterest Mch. 1 and Sept. 1.
Maturity $500 each six months from Sept. 1 1911 to March 1 1921 in¬
clusive.
Mebane, Alamance County, No. Oar.—Bonds Not Sold.—
are advised that the $15,000 6% coupon road-improve¬
ment bonds offered on May 16 and described in V. 90, p.
1316, have not yet been sold. Bids for these bonds will be
We
received at any
time.
J. T. Shaw is Mayor.
Medina School District (P. O. Medina), Medina County,
Ohio.—Bonds Voted.—According to reports,an election held
recently resulted in a vote of 212 “for” to 74 “against” a
proposition to issue $35,000 school-building bonds.
Meridian, Lauderdale County, Miss.—Bonds Authorized.—
Ordinances were passed recently providing for the issuance
of $15,000 park-improvement, $10,000 sidewalk-extension
and $75,000 city-hall-construction, furnishing and equip¬
ment coupon bonds.
These bonds are part of the $275,000
bonds voted July 5 and 6 (V. 91, p. 230).
Interest (not to exceed 6%) payable annually
semi-annually at the Seaboard National Bank In New York City. Ma¬
Bonds are exempt from taxation.
turity not later than 30 years from date.
Denomination $1,000.
or
Middletown, Middlesex County, Conn.—Bond Sale.—The
the $244,000 4% 20-year
coupon refunding railroad bonds offered on July 26 (V. 91,
Town Treasurer advises us that
H. Rollins & Sons
p. 292) were sold as follows: $189,000 to E.
of Boston and $55,000 to Wm. H. Burrows of
The price paid was par and accrued interest.
Middletown.
Middletown School District (P. O. Middletown), Dauphin
County, Pa.—Bond Offering.—Proposals will be received
until 6 p. m. Sept. 19 by J. O. Co van, Secretary School Board,
for $50,000 4% coupon school-building bonds.
Denomination to suit purchaser.
Date Oct. 1 1910.
Maturity
annually at the Farmers’ Bank, Middletown.
of the years 1925, 1930, 1935 and 1940.
tax.
Certified check for 2% of amount bid
is
required.
Interest semi¬
$12,500 in each
Bonds are exempt from State
for, payable to the Treasurer,
Bonds will be ready for delivery on or about Nov. 1 1910.
Milford, Seward County, Neb.—Bonds Not Yet Sold.—We
advised under date of Aug. 15 that no sale has yet been
made of the $18,500 5% 5-20-vear (optional) gold coupon
water and electric-light-system bonds offered without suc¬
cess (V. 91, p. 109) on June 1.
Proposals at par will be re¬
ceived at any time.
Milwaukee, Wis —Bond Election Proposed.—A resolution
providing that a proposition to issue $550,000 municipal
are
electric-light-plant bonds, to be voted upon Nov. 8, has been
referred to the Finance Committee.
Modesto, Cal.—Bond Election.—We see it stated
ordinance has been
ment bond
that an
passed providing for a $100,000 improve^
election..
Monmouth, Warren County, Ill.—Description of Bonds.—
The City Clerk informs us that the amount of 5% refunding
bonds recently disposed of (V. 91, p. 603) was $25,627 50.
The securities were purchased by John Nuveen & Co. of
Chicago at par.
Denomination $500, except one bond of $627 50.
Interest semi-annual.
Maturity on Sept. 1 as follows:
Date Sept. 1 1910.
$1,127 50 in 1912,
1929 inclusive and $7,500 In 1930.
Montevideo School District No. 1 (P. O. Montevideo),
21,000 yearly from 1913 to
Chippewa County, Minn.—Bonds Defeated.—The election
held Sept. 3 resulted in the defeat, by a vote of 161 “for” to
177 “against,” of the proposition to issue the $50,000 4%
$275,000 4 H% bonds mentioned In V. 91, p. 109.
Maturity Aug. 1 1945.
300,000
bonds mentioned in V. 91, p. 109.
Maturity Aug. 1 1945.
school-building bonds mentioned in V. 91, p. 603.
435,000
0% bonds.
Maturity $87,000 yearly on Aug. 1 from 1911 to
Morrison, Whiteside County, Ill.—Bonds Voted.—The
1915 inclusive.
The above bonds are dated Aug. 1 1910.
Interest semi-annually in
election held Sept. 12 resulted in favor of the proposition to
Memphis or New York City, at the option of the holder.
Bids must be
issue the $9,000 5% coupon paving bonds mentioned in
made for the entire amount of each Issue and be accompanied by a certified
V. 91, p. 667.
Check on some Memphis bank for $5,000, made payable to the “City of
The vote was 305 to 186.
Memphis.”
The legality of the bonds has been approved by Dillon,
City, a copy of whose opinion will be fur¬
Thomson A Clay of New York
nished to the successful bidder.
The
official notices of these bond offerings will be found among
this Department.
he advertisements elsewhere in
Interest annually at the City
Date Oct. 1 1910.
Maturity $1,000 April 1 1915 and $2,000 yearly on
April 1 from 1916 to 1919 inclusive.
Denomination $500.
Treasurer’s office.
Motley County Common School District No. 6, Tex.—
Bonds Awarded in Part.—This district on
Sept. 1 sold $5,000
Sept. 17
1910.]
THE CHRONICLE
of the $20,000 5% 5-40-year
the State Comptroller on June
(optional) bonds registered by
8 (V. 90, p. 1696) to the State
School Fund at par and interest.
As already reported (V. 91,
p. 418), the State bought $10,000 of these securities on Aug. 1,
making its total purchases to date $15,000.
Mt. Airy (P. O. Cincinnati), Ohio.—Bond Election.—An
election will be held Oct. 1 to vote on the question of issuing
$12,500 4% water-system-construction bonds.
Mt. Carroll, Carroll County, Ill.—Bond Election.—A pro¬
position to issue $7,000 city-hall bonds will be submitted to
a vote of the
people on Sept. 19.
Mt. Sterling, Madison County, Ohio.—Bond Sale.—The
$4,000 4% curb and gutter bonds offered on Aug. 29 and
described in V. 91, p. 479, have been sold to the First
National Bank of Mt. Sterling at par.
Maturity $250 each
six months from March 1 1916 to Sept. 1 1923 inclusive.
Mt. Vernon, Knox County, Ohio.—Bond Sale.—On Sept. 6
the $2,500 434% 1-5-year (serial) East High Street
improve¬
ment (city’s portion) bonds described in V. 91, p. 603, were
sold to the Knox County Savings Bank of Mt. Vernon at
100.28.
A list of the bidders follows:
Knox County Sav. Bank,
Stacy & Braun, Toledo.>--$2,503 75
Mt. Vernon
$2,507 00 Davies & Bertram Co., Cin_ 2,502 00
First Nat. Bank, Cleveland 2,504 10 Seasongood & Mayer, Cln^_ 2,501 75
Muskegon, Mich.—Bid Rejected.—Reports state that the
only bid received on Aug. 29 for $75,000 electric-light bonds
offered
that
day was one of $75,050 for 4s, less $2,550 for
expenses, submitted by H. W. Noble & Co. of Detroit.
It is
said that this offer was rejected.
Muskogee, Okla.—Bonds Approved.—Reports state that
the $50,000 5% 25-year park bonds voted on April 5
(V. 91,
p. 231) have been approved by the State Attorney-General.
Nanticoke School District (P. O. Nanticoke), Luzerne
County, Pa.—Bond Offering.—There will be offered at public
sale at 7:30 p. m. Sept. 21 $55,000 5% school bonds.
on
Denominations: 50 bonds of $500 each and 30 bonds of $1,000 each.
Interest semi-annual.
Maturity 30 years, subject to call after 15
years.
Newark, N. J.—Bonds Authorized.—Local papers state
that on Aug. 31 the Finance Committee of the Common
Council authorized the issuance of $100,000 bonds to
pur¬
chase additional lands for the conservation of the
purity
of the water supply and $100,000 to
buy additional lands in
the meadows in connection with the
ship canal and recla¬
mation scheme.
New
were
Britain, Conn.—Bond Sale.—The following bonds
recently sold:
$13,000 sewer bonds awarded to the Sinking Fund at 95.
14,000 subway bonds, dated Oct. 1 1910, awarded to the Savings Bank
of New Britain at 98.50.
New
Carlisle, Clark County, Ohio.—Bond Election.—The
question of issuing $20,000 bonds for a water-works system
will be submitted to a vote on Sept.
27, according to reports.
New Philadelphia, Tuscarawas County, Ohio.—Bond
Offer¬
ing.—Proposals will be received until 12 m. Oct. 17 by A. D.
Schlegel, City Auditor, for the $125,000 434% bonds voted
on Aug. 2 1910 for the
purchase of the plant of the New
Philadelphia Water Co. V. 91, p. 354.
Authority Sections 2835, 2837, Revised Statutes.
Denomination $500.
Date Oct. 1 1910.
Interest semi-annual.
Maturity $1,000 Oct. 1 1913,
$1,500 each six months from Anril 1 1914 to Oct. 1 1915 inclusive, $2,000
each six months from April 1 1916 to Oct. 1 1919
inclusive, $2,500 each
six months from April 1 1920 to Oct. 1 1931
Inclusive, and $42,000 April 1
1932.
Certitied check for 1% of bonds bid for, payable to City Treasurer,
Is required.
Purchaser must pay accrued interest.
Bonds to be paid for
within 10 days from time of award.
Norfolk, Va.—Bond Sale.—The $730,000 bonds (the unsold
portion of the three issues of 434% bonds, aggregating
$858,000, mentioned in V. 91, p. 542), have been disposed of.
Local investors purchased $24,000 worth while the
remaining
$706,000 bonds have been contracted for by N. W. Harris &
Co. of New York City at 96.08 and accrued interest.
Norman, Cleveland County, Okla.—Bond Offering.—Pro¬
posals will be received until 7:30 p. m. Sept. 20 by A. R.
Clement, City Clerk, for $15,000 5% public-sewer extension
bonds.
Authority Section 26 and 27, Article 10, State Constitution. Denomi¬
nation $500.
Date July 1 1910.
Interest semi-annually at the fiscal
agency of the State of Oklahoma In New York City.
Maturity July 1 1930.
745
Bond Sale.—The three issues of 434% bonds described in
V. 91, p. 480, were disposed of on Aug. 26 to the First Na¬
tional Bank of Cleveland as follows:
$8,632 80 water-maln-constructlon assessment bonds awarded for $8,736 66
—the price thus being 101.201.
Maturity two bonds yearly on
July 1 from 1912 to 1920 Inclusive.
flp
6,981 63 water-maln-constructlon (village’s portion) bonds awarded for
$7,087 88—the price thus being 101.521.
Maturity two bonds
yearly on July 1 from 1914 to 1920 inclusive.
4,143 40 Sackett Street sanltary-sewcr-constructlon assessment bonds
awarded for $4,201 65—the price thus being 101.405.
Maturity
two bonds yearly on July 1 from 1913 to 1921 inclusive.
*"4
Nueces County Common School Districts, Tex.—Bonds
Not Yet Issued.—No sale has yet been made of the $10,000
bonds of District No. 25 and the $6,000 bonds of District
No. 28, that were registered by the State
Comptroller (V. 91,
231)
July 6.
The securities carry 5% interest and
but are subject to call after 10 years.
Ogden, Utah.—Bonds Voted.—It is stated that an election
held Sept. 6 resulted in favor of the proposition to issue
the $100,000
water-system-improvement bonds mentioned
in V. 91, p. 668.
The vote was 430 “for” to 207 “against.”
Oktibbeha County (P. O. Starkville), Miss.—Bonds Au¬
thorized.—It is stated that the Board of Supervisors has
passed an ordinance providing for the issuance of $20,000
bonds for the construction and maintenance of public roads
p.
on
mature in 40 years,
in District No. 1.
Olean, Cattaraugus County, N. Y.—Bond Election Pro¬
posed.—We are informed that a resolution is pending in the
Council providing that propositions to issue $50,000 markethouse and $2,000 band-stand bonds be submitted to a vote
of the people on Nov. 8.
Orange, Orange County, Cal.—Bonds Voted.—The propo¬
sitions to issue the following 5% gold
coupon bonds were
favorably voted upon at the election held Sept. 1 (V. 91,
p. 480):
$16,000 outfall-sewer bonds.
Vote 391 to 66.
Maturity $1,000 yearly on
Oct. 1 from 1911 to 1926 Inclusive.
5,000 Plaza paving bonds.
Vote 353 to 98.
Maturity $500 yearly on
Oct. 1 from 1911 to 1920 Inclusive.
Denomination $500.
Date Oct. 1 1910.
Interest semi-annually at the
City Treasurer’s office.
Oriskany Falls, Oneida County, N. Y.—Bonds Voted.—
Reports state that a proposition to issue $30,000 5-29-year
(serial) water-works bonds at not exceeding 5% interest
by a vote of 83 to 28 at an election held Sept. 6.
Orleans, Harlan County, Neb.—Bonds Not Sold.—No sale
was made on Sept. 1 of the
$20,000 5-20-year (optional)
water-works-system bonds described in V. 91, p. 293. Pro¬
posals for these bonds will be received at any time.
Ossining, Westchester County, N. Y.—Bond Offering.—
Proposals will be received until 8p.m. Sept. 20 by Richard
A. Ward, Village Clerk, for $200,000 registered sewer-im¬
provement bonds at not exceeding 5% interest.
carried
Date Sept. 1 1910.
Interest semi-annually at the Village Treasurer’s
office in New York exchange.
Maturity $8,000 yearly on Sept. 1 from
1915 to 1939 Inclusive.
Certified check on an incorporated bank or
trust
company for $1,000, payable to James W. Sands, Village Treasurer, is re¬
quired.
The bonds will be certified as to genuineness by the Columbia
Trust Co. of New York City and their legality wfll be examined by Hawkins,
Delafleld & Longfellow of New York City, whose opinion will be furnished
to the purchaser.
Bids must be made on blank forms furnished by the
village.
Oxford, Lafayette County, Miss.—Bond Sale.—The $30,6% coupon funding, water and electric-light bon^s de¬
scribed in V. 91, p. 480, were sold on Aug. 31 to the Bank
of Oxford for $30,350—the price thus
being 101.166. Ma¬
turity $500 yearly on July 1 from 1911 to 1929 inclusive
and $20,500 on July 1 1930.
Oxford School District (P. O. Oxford), Butler County,
Ohio.—Bond Sale.—On Sept. 3 the $20,000 434% 2-21-year
(serial) gold coupon school-building-improvement bonds de¬
000
scribed in V. 91, p. 480, were sold to Weil, Roth & Go. of
Cincinnati at 103.03 and interest—a basis of about 4.166%.
The
following bids
Weil, Roth & Co., Cin
Stacy & Braun, Toledo
Breed & Harrison, Cin
First Nat. Bank, Cleve
were
received:
$20,606 00 Davies & Bertram Co.,Cln.$20,464 OO
20,575 75 Hayden. Miller & Co.,Clev 20,272 00
20,550 00 Seasongood & Mayer, Cin. 20,260 00
20,516 25
The bonds are dated Sept. 3 1910 and are exempt from all taxes
Bonded
debt, Including this Issue, $120,000. No floating debt.
Assessed valuatlon for 1909, $845,180.
We are advised that these securities take the place
the $20,000 4% bonds awarded on July 6 to Seasongood
of
&
North Charleroi School District (P. O. Charleroi),
Pa.—
Bond Election Proposed.—Local
papers state that an election
will be held to vote on the
question of issuing $22,000 school¬
consummated.
North Gohocton and Atlanta Union School District
(P. O.
North Cohocton), Steuben County, N. Y.—Bonds Awarded in
Part.—Of an issue of $9,000 5% school-house
bonds, $7,000
has been disposed of to the Farmers’ & Merchants’ Bank of
Bath at par. Denomination $100. Date
Sept. 1 1910. Inter¬
Palestine, Anderson County, Texas.—Bonds Voted.—The
Sept. 8 (V. 91, p. 603) resulted in favor of the
propositions to issue the $17,000 park and $9,000 fireequipment 5% bonds. The vote was 270 “for” to 105
“against” the former issue and 314 “for” to 80 “against”
the latter.
Maturity Oct. 1 1950, subject to call after
building bonds.
est annual.
Maturity $1,000 yearly beginning Jan. 1 1912.
York), York County, Pa.—Bond Elec¬
North York (P. O.
tion Proposed.—-We see it stated that this
to hold an election to vote on the
question
borough proposes
of issuing $34,000
school-building bonds.
Nottingham, Cuyahoga County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Sept. 24 by J. C.
Steinicke, Village Clerk, for $15,000 434% water-mainconstruction (village’s portion) bonds.
Authority special election May 9 1910.
Denomination $500.
Date
Sept. 15 1910.
Interest Jan. and July.
Maturity on July 1 as follows:
$2,000 in 1917, $2,500 ye rly from 1918 to 1921 incluslv and $3,000 in
1922.
Certified check for 5% of bonds bid for. payable to the
Village
Treasurer Is required.
Purchaser to pay accrued interest and be prepared
to take the bonds within 10 days from date of award.
Mayer of Cincinnati (V. 91,
p.
170), which sale
was never
election held
Oct. 1 1920.
Parmer County Common School District, Tex.—Bonds
Registered.—On Aug. 15 the State Comptroller registered
$1,000 5% 5-10-year (optional) bonds.
Penelope Independent School District (P. O. Penelope),
Hill County, Tex.—Bonds Awarded in Part.—On Sept. 1
$5,000 more of the $12,500 5% 10-40-year (optional) bonds
registered by the State Comptroller on July 1 (V. 91, p. 170)
were awarded to the State School Fund at
par and interest.
In V. 91, p. 418, we reported the sale
of $5,000 of these
bonds to the State on Aug. 1.
Petaluma School District, Sonoma County, Cal.—Bond
Sale.—The $45,000 434% 1-40-year (serial) school-building
t
THE CHRONICLE
746
bonds offered
on
Sept. 7 (▼. 91, p. 604) were sold, according
reports, to the Exchange Bank of Petaluma for $45,601—
the price thus being 101.335.
Denomination $1,125. Date
Sept. 7 1910. Interest semi-annually at the County Treas¬
to
a
urer’s office.
Pierce County (P. 0. Tacoma), Wash.—Bond Election
Proposed.—According to local papers an election will be
called shortly to vote on the question of issuing $140,000
bonds for Puyallup River Bridge; $481,000 for city water-way
bridge; $385,000 for a municipal dock and $125,000 for a
fire tug.
Pittsburgh, Pa.—Bond Election Proposed.—The Select
a meeting held Sept. 14 passed the ordinances
providing for the issuance of the $10,305,000 bonds men¬
tioned in Y. 91, p. 668.
These ordinances were passed by
the Common Council on Sept. 12 and, according to dispatches,
they will now be presented to Mayor Magee. It is expected
that both Select and Common Councils will hold a special
meeting Sept. 19 to consider “submissive” ordinances in
connection with the proposed bond issue, and the placing of
Council at
the matter before the voters at the November election.
same manner.
Election.
voters a
and sewage-disposol-
Pleasant Ridge, Hamilton County, Ohio.—Bond
—On Sept. 26 there will be submitted to the
proposition to issue $12,500
works (city's portion) bonds.
sewers
Bannock County, Idaho.—Bond Offering.—
Proposals will be received until 10 a. m. Oct. 6 by D. W.
Church, Mayor, for the $164,788 trunk-sewer bonds voted
June 28 (Y. 91, p. 231).
Pocatello,
Detiomlaatioa $1,000, except one bond for $788.
Date Jan. 1 1911.
Interest (not to exceed 5%) semi-an ually at the City Treasurer’s office
• * the Firit National Bank in New York City.
Maturity Jan. 1 1931,
Certified check for 10% of bid is required.
subject to oall after Jan.l 1921.
Pontiac School District No. 95 (P. O. Pontiac), Livingston
County, Ill.—Bond Sale.—The $20,000 5% 6-15-year (serial)
school bonds offered on Sept. 1 (Y. 91, p. 542) were sold to
Weil, Roth <k Co. of Chicago at 104.15 and accrued interest
—a basis of about 4.50%.
Denomination $500. Interest
semi-annually at the Township Treasurer’s office in Pontiac.
Portland, Ore.—Bond Election.—A proposition to issue
$2,500,000 public-dock bonds will be submitted to a vote
of the people on Nov. 8, according to local papers.
Portsmouth, Va.—Bond Election.—The ordinancejcommittee has been instructed to present at the October meeting
of the Oormmon Council an ordinance providing for a $600,000
water-bond election.
Portsmouth, Scioto County, Ohio.—Bond Sale.—The suc¬
cessful and only bid received on Sept. 6 for the $6,000 4%
5-year coupon sewer-construction (city’s portion) bonds
described in V. 91, p. 604, was one of par and accrued in¬
terest submitted by the Security Savings Bank & Trust Co.
of Portsmouth.
(P. O. Pulaski), Va.—Bonds Not Yet Sold.
—Up te Sept. 8 no sale had yet been made of the $70,000
coupon road-improvement bonds offered without success
(Y. 90, j. 1195) on April 16.
Putnam County (P. O. Ottawa), Ohio.—Bond Offering.—
Proposals will be received until 12 m. Sept. 24 by the Board
of Commissioners for the following 5% coupon bonds:
Pulaski County
$23,00# Joseph Slefker Ston* Road improvement bonds. Maturity on
Q«t. 1 as follows: $3,000 in 1014 and $4,000 yearly from 1915 to
1910 inclusive.
14,00# Barney Aelker Stone Road Improvement bonds. Maturity $1,500
on Ost. 1 1914 and $2,50# yearly on Oct. 1 from 1915 to 1919
inclusive.
Authority
Section
4670,
Revised
Statutes.
Denomination
$1,000.
Date Oct. 1 1910.
Interest semi-annually at the County Treasurer’s office
In Ottawa.
Cash or certified check on a bank in Ottawa for $1,000 is
required. Purchaser to pay accrued Interest, to furnish blank bonds and
foraretranscript
Eay
of proceedings, t. Kersting is County
onds
tax-exempt.
sewers.
Rockford, Winnebago County, Ill.—Bond Election Pro¬
posed.—This city is considering the advisability of calling an
election to vote on the question of issuing $200,000 water
Kinds.
Up to Aug. 25, however, nothing definite had yet
jeen
determined upon.
District (P. O. Riverside), Riverside
bounty, Cal.—Bond Sale.—The $250,000 4)4% 10-29-year
(serial) school-improvement bonds offered on Sept. 7 (V. 91,
). 481) were sold to Barroll <fc Co. of Los Angeles at 100.05.
Denomination $500.
Date Aug. 2 1910. Interest semi¬
Riverside City School
annual
.
Rochester, N. Y.—Note Sale.—The three issues of 8
notes, aggregating $205,000, described in V. 91,
3. 668, were sold on Sept. 13 to H. Lee Anstey of New York
City at par for 4J^s.
Runnels County (P. O.Ballinger), Tex.—Bond Election.—
An election will be held to-day (Sept. 17), it is stated, to vote
on the question of issuing $60,000 bonds for the improvement
months’
of roads in Precinct No. 1.
Plattsburgh, Clinton County, N. Y.—Bonds Awarded in
Part.—Up to Sept. 9 $25,000 of the $40,000 4% 1-20-year
(serial) water bonds, offered without success on July 22
(V. 91, p. 293), had been subscribed for by local investors.
We are informed that the remaining $15,000 bonds will be
offered for sale in the
LXXXAI.
city-hall and site, $250,000 for paving and $250,000
new
:ror
[VOL.
Auditor. The
The above issues of bonds were awarded on Aug. 6 to the
First National Bank of Cleveland (Y. 91, p. 418).
The first
sale was not consummated, however, as the maturity of the
bonds did not conform at that time to the statutory
requirements.
Quanah Independent School District (P. O. Quanah),
Hardeman County, Tex.—Bonds Voted.—The $15,000 5%
school-building purchase and repair bonds mentioned in
Y. 91, p. 418, were authorized at the election held Aug. 2o
by a vote of 98 to 27. We are advised that it “will likely
be two or three months before they are ready for sale.”
Maturity 40 years, subject to #all after 20 years.
Papers state that
an
election will also be held Sept. 24 on
bonds for the improvement of
the question of issuing $25,000
roads in District No. 2.
Sagamore Independent School District (P. O. Fort Worth),
Voted.—This district recently voted to issue
$3,000 5% school-building bonds. We are informed that
they will be placed on the market “just as soon as they are
approved by the Attorney-General."
Tex.—Bonds
Denomination $100.
Date Aug:. 1 1910.
Interest annually at the Chem¬
ical National Bank In New York City, the American National Bank In Fort
Maturity 40 years, sub¬
Worth or the State Treasurer's office In Austin.
ject to call after 20 years. The bonds are exempt from all taxes. Bonded
debt, including; this issue, $10,000.
tor $325,200.
Floating: debt, none.
Assessed valua¬
St. Augustine, Fla.—Bond Election.—We see it reported
that the City Council has passed an ordinance providing for
an election to vote on the question of issuing $100,000 sewer¬
age-system bonds.
St. Petersburg, Hillsboro County, Fla.—Bonds Voted.—
The election held Aug. 30 resulted in favor of the propositions
to issue the $100,000 6% 30-year bonds mentioned in V. 91,
The vote was as follows:
p. 418.
$67,500 brick street-paving: bonds.
Vote, 17# (• 36.
5,000 sewer bonds.
Vote, 172 to 34.
10,000 water-works bonds.
Vote, 163 t« 42
10,000 water-front-improvement and purchase bonds.
7,500 fire station, Jail, fire and polloo-alarm-system
Vste, 162 to 37.
bonds. Vote, 147
to 51.
Salt Lake City School District (P. O. Salt Lake City),
Salt Lake County, Utah.—Bonds Not Yet Sold.—According
to a letter received by us on Aug. 29 from the Clerk Board of
Education, the $700,000 4% 20-year gold coupon school
bonds, offered without success on May 8 (Y. 91, p. 110), ar#
still unsold.
Salt Lake City School District (P. O. Salt Lake City),
Sale Lake County, Utah.—Bonds Awarded in Part.—Of th#
$700,000 4% 20-year gold coupon s#hool bonds mentioned in
V. 91, p. 110, $250,000 have been disposed of at private
sale to Emery, Peck &
are dated July 1 1910.
City.
Sandusky,
Rockwood of Chicago. The bond*
Interest semi-annually in New York
Sanilac County, Mich.—Bids Rejected.—All
bids received on Aug. 18 for $9,000 sewer, $15,000 water¬
works and $10,000 light 4)4% bonds offered on that day
were
rejected.
authorized by a vote of 242 to 15 at an election held
Denomination $1,000. Interest March and Sept. The sewer
bonds mature In 20 years and the water and llg:ht bonds are due In 3#
years.
This city has no debt at present.
These bonds were
July 25.
Sandusky County (P. O. Fremont), Ohio.—Description of
Bonds.—We are advised that the $6,348 34 4)4% road
bonds recently awarded to the First National Bank of Fre¬
mont at 100.74 (V. 91, p. 668) are dated Aug. 15 1910 and
mature
one
part each six months.
bond for $348 34.
Denomination $500, except
Interest semi-annual.
San Lorenzo School District, Alameda County, Cal.—
Bond Sale.—The $10,000 5% 1-10-year (serial) building
bonds dated Sept. 1 1910 and offered on Sept. 6 (V. 91, p.
543)
were
awarded to the Bank of Alameda County in Ala¬
meda at 101.16.
A bid of 100.01 was also received from G.
G. Blymyer & Co. of San Francisco.
Santa Ana, Cal.—Bond Election Proposed.—This city, it is
stated, is considering the advisability of calling an election to
vote on propositions to issue $40,000 convention-hall, $50,000 outfall-sewer and $20,000 reservoir bonds.
Santa Barbara, Cal.—Bonds Voted.—The election held
Aug. 31 resulted in favor of the issuance of the $200,000
Mission water tunnel bonds mentioned in V. 91, p. 294.
The vote is reported as 1,227 “for” to 204 “against.
Quitman County (P. O. Belen), Miss.—Bonds Not Sold.—
Santa Paula, Ventura County, Cal.—Bonds Authorized.—
Offering.—No award was made on Sept. 5 of the $45,000
The City Council has passed an ordinance, it is stated, pro¬
4)4% 20-30-year (optional) court-house and jail-construction
bonds described in V. 91, p. 418.
The Board of County viding for the issuance of the $45,000 sewer-system-con¬
Supervisors subsequently increased the amount of the issue struction bonds voted (V. 91, p. 481) on Aug. 2.
to $50,000 and is now offering the same for sale.
Scandia, Republic County, Kan.—Bonds Not Yet Sold.—
Reading, Pa.—Bond Election.—It is reported that the Up to Aug. 19 no award had yet been made of the $21,000
Mayor has signed an ordinance providing for the submission 5% coupon water-works bonds offered without success
to the voters at the November election of propositions to
(V. 91, p. 171) on June 20. We are informed, however,
issue the following bonds: $275,000Afor parks, $50,000 for that the National Construction Co. of South Bend has agreed
Bond
Sept. 17 1910. |
THE CHRONICLE
to take the bonds if
they are awarded the contract for the
construction of the water works.
Schenectady, N. Y.—Bond Offering.—Proposals
received until 11
will be
Sept. 30 by C. H. Benedict, City
Comptroller, for $85,000 4>^% registered sewer bonds.
a.
m.
Authority Sections
60 and 61, Chapter 55, of the Laws of 1909.
Denomi¬
$1,000.
Date Oct. 1 1910.
Interest semi-annually at the
City
Treasurer’s office.
Maturity $5,000 yearly on Oct. 1 from 1911 to 1927
inclusive.
Certified check on a bank or trust company for
2%
of
bonds
bid for, payable to the City Comptroller,
is required.
Bonds will be certi¬
fied as to their genuineness by tne
Columbia Trust Co. of New York City,
and their legality
approved by Caldwell & Reed of New York, whose
opinion or duplicate thereof will be delivered to the purchaser.
nation
Sheridan County School District No. 34, Wyo.—Bonds Not
Sold.—An issue of $1,200 bonds was offered without success
on
Aug. 6. The securities are now being offered at private
sale.
coupon
747
school-building bonds offered
on
Aug. 23.
An offer
of par was received from E. H. Rollins & Sons of
Denver
and a bid was also submitted by S. A. Kean & Co. of
Chicago.
Denomination $100.
Date July 1 1910.
Interest semi-annually in
Choteau in New York exchange.
The bonds are
tax-exempt. This
district has no debt at present.
Assessed valuation
$488,814
Thomasville, Clarke County, Ala.—Bonds Not Yet Sold.—
are informed under date of
Sept. 10 that the $8,000 5%
20-year coupon school-building bonds, offered without
success on July 2 (V.
91, p. 294), are still unsold.
We
Titusville School District (P. O.
Titusville), Crawford
County, Pa.—Bonds Voted.—An election held Sept. 6 resulted
in a vote of 344 “for" to 337
“against" a proposition to issue
$100,000 high-school-building bonds.
Topeka, Kan.—Bond Sale.—The $35,959 66 434% Ken¬
wood Addition street-improvement bonds have
been dis¬
Silver Springs, Wyoming County, N. Y.—Bond Sale.—On
Aug. 22 $14,000 2-29-year (serial) water and $6,000 5-16- posed of to local investors at par and accrued interest.
year (serial) electric-light 5% bonds were awarded to Isaac
Denominations 70 bonds of $500 each and 10 bonds of
$95 96 each.
Date Sept. 1 1910.
W. Sherrill of
Interest semi-annual.
Maturity part yearly from
Poughkeepsie at 100.10. Denomination $500. one
to ten years inclusive.
Date Sept. 1 1910.
Interest annual.
Tower Hill, Shelby County, Ill.—Bonds Voted.—Accord¬
Sonoma, Sonoma County, Cal.—Description of Bo?ids.— ing to reports, an election
held Aug. 30 resulted in favor of
We are advised that the
$20,000 5% sewer bonds awarded on the issuance of $3,000 city-hall-erection and
Aug. 15 to Barroll & Go. of Los Angeles at 102.73 (V. 91, ment bonds. The vote was 73 “for" to 33 street-improve¬
“against."
p. 543) are dated Aug. 1 1910 and mature part
yearly for
Trenton, N. J.—Bond Sale.—On Sept. 15 the three issues
forty years. Interest annual.
of 43^% bonds,
aggregating $155,000, described in V. 91,
Springfield, Greene County, Mo.—Bond Election Proposed. p. 604, were awarded to N. W. Harris & Co. of New York
—We are advised that the election to vote on the
proposi¬ City at 103.923.
tions to issue bonds
aggregating $475,000 (V. 91, p. 481) will
Trinchera Irrigation District, Costilla
County, Colo.—
probably be held towards the last of September or the early Bond
Offering.—Proposals
will
be
received
until
12 m. Sept.
part of October.
26 by V. R. Liggett, District
Secretary (P. O. Blanca), for
Springfield, M&ss.—Bonds to be Offered Shortly.—This city $500,000 6% bonds.
will be on the market, some time in
Denominations: 2,000 bonds of $100 each and 600 bonds of
October, with the fol¬ Date
$500 each.
Sept. 1 1910.
Interest June 1 and Deo. 1.
lowing 4% bonds:
Maturity from 11 to 20
years.
Certified check for
$400,000 coupon (with privilege of registration)
municipal-building bonds.
Date Nov. 1 1910.
Maturity $10,000 yearly on Nov. 1 from
1911 to 1950 inclusive.
fire and police-building
340,000 registered
Maturity $17,000 yearly
Denomination $1,000
bonds.
Date
on Oct. 1 from 1911 to
or any multiple thereof.
Oct.
1
1910.
1930 inclusive.
The City Treasurer states that the
issues will be passed,upon by
legality of the above
Storey, Thorndike, Palmer &
Dodge of Boston.
Temporary Loan.—A loan of $100,000, maturing Nov. 2
1910, has been negotiated, it is stated, with Jackson &
Curtis of Boston at 3.75% discount.
Springfield, Ore.—Bonds Voted.—It is stated that a pro¬
position to issue $50,000 public-improvement bonds was fav¬
orably voted upon at an election held Aug. 31.
Spring Hill School District No. 4 (P. O. Spring Hill),
Johnson County, Kans.—Bond Sale.—The
$4,000 434%
1-8-year (serial) coupon school-addition bonds described in
Y. 91, p. 232, have been sold to local investors at
par.
Steamboat Springs, Routt County, Colo.—Bonds Voted.—
It is stated that an election held
Sept. 6 resulted in favor of a
proposition to issue $65,000 bonds to purchase the water¬
works.
The rote was 79 “for" to 70
“against."
Stephen School District (P. O. Stephen), Marshall Gounty,
Minn.—Bonds Not Sold.—An issue of $2,000
5% 5-10-year
(optional) refunding bonds offered on Aug. 20 failed to
attract any bidders.
Denomination $500. Date Aug. 1
1910.
Interest semi-annual.
Sterling County Common School District No. 1, Tex.—
Bond Sale.—The $4,500 5%
10-20-year (optional) bonds
registered by the State Comptroller on July 7 (V. 91, p. 232)
have been
sold.
Struthers, Mahoning County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Sept. 21 by L. S.
Creed, Village Clerk, for $2,000 5% Bridge Street pavement
interest.
$500 Is required.
Bids must include accrued
Troy, N. Y.—Certificate Sale.—An issue of $175,000 5%
Sept. 9 to Kissell,
$175,184—the prico
thus being 100.105.
Turlock, Stanislaus County, Cal.—Bonds Voted.—This
city recently voted, reports state, to issue $25,000 sewer
and
certificates due Nov. 9 1910 was sold on
Kinnicutt & Co. of New York City for
water system
bonds.
Twin Falls, Idaho.—Bond Election.—An election has been
called for Sept. 20 to vote on
propositions to issue the follow¬
ing coupon 10-20-year (optional) bonds at not exceeding 6%
interest: $33,000 for the paving and
grading of streets in
Local Improvement District No. 7, $7,000 for
public im¬
provements, consisting of walks, bridges and culverts on
the streets and alleys of the
city, and $10,000 for the pur¬
chase of apparatus for the fire
department.
Tyler, Smith County, Texas.—Bonds Registered.—The
Comptroller registered $11,000 5% 10-30-year (option¬
al) water-main bonds on Sept. 1.
Underwood, Pottawattomie County, Iowa.—Bonds Voted.
—An election held Sept. 4 is said to have resulted in favor of
a proposition
to issue $5,000 water-works-system bonds by
a vote of 54 “for” to 12
“against."
Upper Sandusky, Wyandot County, Ohio.—Bond Sale.—
On Sept. 6 the $5,000
5% 9-year water and sewer bonds
described in V. 91, p. 604, were sold to
Hayden, Miller A
State
Co. of Cleveland at 109.90
of the bidders follows:
and accrued interest.
A list
Hayden, Miller & Co., Cleve. .$5,495 (Seasongeod & Mayer, Cim
$5,277
Cleveland Trust Co., Cieve
5,3131 Citizens' Savings Bank, Upper
Stacy & Braun, Toledo
5,2811
Sandusky
5,259
iOtls & Hough, Cleveland
5,229
Utica, N. Y.—Bonds Authorized.—Local papers
report
an ordinance has been
adopted providing for the issu¬
ance of $3,994 70 bonds for the
payment of purchases made
assessment bonds.
by the city at the tax sale of 1910.
Authority, Section 2835, Revised Statutes. Denomination $500. Date
Oct 1 1910.
Vallejo School District, Solano County, Cal.—Bond EletInterest semi-annual.
Maturity $500 yearly from 1911 to
1914 inclusive.
tion Proposed.—Reports state that at a
Certified check for $100, payable to the Treasurer, is re¬
regular meeting of
quired.
Purchaser to pay accrued Interest.
the Board of Education to be held
Sept.
6,
steps will be taken
Summit County (P. O. Akron), Ohio.—Bonds Not Sold.—
looking towards the holding of an election to yote on the
No award was made on
Sept. 2 of the two issues of 5% cou¬ question of issuing $60,000 bonds. These securities, if voted,
pon East Market Road improvement bonds
aggregating will take the place of the $60,000 bonds disposed of on Aug. 1
$19,000, described in V. 91, p. 604.
to G. G. Blymyer & Co. of San
Francisco, but subsequently
Sutter Union High School District, Sutter
refused by them.
See V. 91, p. 543.
County,
Cal.—
Bonds Defeated.—We see it stated that this
district recently
Valley, Douglas County, Neb.—Bonds Voted.—An election
defeated a proposition to issue
held Aug. 29 resulted in favor of a
$30,000 bonds.
proposition to issue $5,000
Tallahatchie County (P. O. Charleston), Miss.—Bond Sale. 6% 10-20-year (optional) water-extension bonds. The vote
—An issue of
$50,000 6% 10-25-year (optional) road and was 90 “for" to 14 “against."
bridge bonds was disposed of on Sept. 5 to the People’s
Van Wert Gounty (P. O. Van Wert), Ohio.—Bond
Offer¬
Bank of Sumner at 100.71.
Date Sept. 1 1910.
Interest ing.—Proposals will be received until 1 p. m. Sept. 24 by
semi-annual.
Clarence Koln, County Auditor, for $6,300
434% coupon
Tate County (P. O.
Senatobia), Miss.—Bond Election Pro- ditch improvement bonds.
osed.—-Petitions are being circulated requesting the
Authority, Sections 6492 6493, General Code. Denomination $525.
County
Sept. 30 1910.
Interest semi-annually at the County Treasury*
upervisors to call an election to vote on the question of Date
Maturity $2,100 yearly from 1911 to 1913 inclusive.
Bonds are tax ex¬
issuing road bonds.
empt.
Certified check on a bank in Van Wert for $100,
payable to the
County
Commissioners, is required. All bids must be unconditional and
Terrell Gounty Common School District No.
purchaser
will
be
required to furnish blank bonds.
1, Tex.—
Bonds Awarded in Part.—On
Sept. 1 the State purchased at
Venango County (P. O. Franklin), Pa.—Bonds Not Sold.—
par and interest $5,000 more of the $25,000
5% 5-40-year No bids were received on
31 for the $175,000 4% coupon
(optional) bonds offered without success on May 30 (V. 90, bridge bonds described inAug.
V. 91, p. 543.
p. 1699), making $15,000 of this issue purchased to date.
Walworth, Walworth County, Wis.—Bonds Voted.—Am
See V. 91, p. 419.
election held Aug. 16 resulted in a vote of 71 “for" to 34
Teton County School District No.
15, Mont.—Bonds Not “against" a proposition to issue $18,000 water-works-con¬
Sold.—No sale was made of $14,000
5% 15-20-year (optional) struction bonds at not exceeding 5% interest.
that
.
THE CHRONICLE
m
Warren County (P. 0. Front Royal), Va.—Bond Election.
—This county will vote in November, it is stated, on the
ivoi. lmxu.
this county is offering (V. 91, p. 234) at par and accrued in¬
terest.
White Plains, Westchester County, N. Y.—Bond Offering.
question of issuing permanent road-building bonds,
Washington 0. Q. School District (P. 0. Washington -—Proposals will be received until 8 p. m. Oct. 3 by the
0. H.), Fayette County, Ohio.—Bonds Not Yet Offered.-^-We Board of Trustees for $23,000 434%
tax-deficiency bonds.
are advised under date of Sept. 15 that the $100,000 school¬
Denomination $1,000.
Date Oct. 1 1910.
Interest semi-annual. Ma¬
building bonds voted on July 25 (V. 91, p. 356) have not turity Oct. 1 1920. Certified check on a State or national bank or trust
company for 5% of bonds, payable to the Village Treasurer, is required.
yet been offered for sale.
John J. Brown Ib President and Earle P. Hite, Clerk.
Washington County (P. 0. Washington), Pa.—Bonds Not
The official notice of this bond offering will be found among
Yet Sold.—The $100,000 4% coupon (with privilege of regis¬
the advertisements elsewhere in this Department.
tration) road bonds, which this county is offering at par and
accrued interest (V. 91, p. 234), have not yet been placed.
Willard, Torrance County, New Mex.—Bond Election.—
Watervliet, Albany County, N. Y.—Bond Sale.—The A proposition to issue $2,000 school bonds will be submitted
4
$55,000 4^% school-building bonds offered on Sept. 8 to a vote of the people, it is stated, on Sept. 24.
were purchased by W.N. Coler & Co. of New York City at
Willmar, Kandiyohi County, Minn.—Bonds Not to Be
100.40.
The following bids were received:
Offered at Present.—We are advised that the $15,000 4%
W. N. Coler & Co.. N. Y
100.40 IN. W. Harris & Co., N. Y...100.18
school-building bonds voted on May 28 (V. 90, p. 1632)
I. W. Sherrill, Poughkeepsie. 100.3951 Farson, Son & Co., N. Y
100.138
Denomination 31,000.
Date Sept. 15 1910.
Interest semi-annually “may not be issued until next year.”
Maturity on Sept. 15 as follows: $2,000 yearly from 1911 to 1914 Inclusive,
Wilmont,Nobles County, Minn.—Bond Sale.—The State
$5,000 yearly from 1915 to 1923 Inclusive and $2,000 In 1924.
of Minnesota has purchased the $3,000 4% 6-20-year (serial)
Wayne County (P. O. Richmond), Ind.—Bond Sale.—It is water-works bonds voted (V. 91, p. 234) on July 5.
stated that $55,600 43^% road-improvement bonds dated
Wills Point, Van Z&ndt County, Tex.—Bonds Registered.—
Sept. 1 1910 were recently awarded to the Second National On
Aug. 24 $1,000 5%^ 10-year school-house-repair bonds
Bank in Richmond at par and accrued interest.
were registered by the State Comptroller.
West Brownsville, Washington County, Pa.—Bond Sale.—
Wilmington, New Hanover County, No. Caro.—Bonds Not
In addition to the $25,000 bonds recently purchased (V. 91,
Sold.—No satisfactory bids were received on Sept. 1 for the
p. 669), the Washington Investment Co. of Pittsburgh has
$100,000 434% 40-year coupon water and sewer bonds
also been awarded $8,000 5% 30-year tax-free improvement
described in V. 91, p. 544.
bonds.
Westfield, Chautauqua County, N. Y.—Bonds Voted.—
The election held Sept. 13 resulted in a vote of 150 “for” to
92 “against” the proposition to issue the $100,000 5% sewer
bonds mentioned in V. 91, p. 670.
Wharton, Wharton County, Tex.—Bonds Voted.—Reports
state that an election held Aug. 23 resulted in a vote of 54 to
7 in favor of a proposition to issue $15,000 5% 10-40-year
(optional) street-improvement bonds.
White County (P. O. Monticello), Ind.—Bonds Not Sold.—
No sale has yet been made of the four issues of 434% and 5%
coupon ditch and road bonds, aggregating $68,703, which
Wood County (P. O. Grand Rapids), Wis.—No Action
are advised under date of Aug. 20 that no
Yet Taken.—We
day has yet been set for the offering of the $50,000 434%
gold coupon chronic-insane-asylum bonds dated Dec. 1 1910
and described in V. 91, p. 234.
Worcester, Miss.—Temporary
Wyandot County (P. O. Upper Sandusky),
Ohio.—Bond
Sale.—The $3,000 5% Eden Township public-road-improvement bonds described in V. 91, p. 605, were sold on Sept. 7
NEW LOANS
NEW LOANS.
NEW LOANS.
Loan.—This city has bor¬
& Goodwin of Boston at 3.44%
Oct. 14 1910.
rowed $100,000 from Bond
The loan is due
discount.
$275,000
CITY OF MEMPHIS, TENN. CITY OF MEMPHIS, TENN. CITY OF MEMPHIS, TENN.
$300,000
$435,000
STREET IMPROVEMENT BONDS
Notice Is hereby given that sealed
received by Ennis M. Dougla83,Clty
bds will be
Clerk of the
City of Memphis, Tennessee, at the City Hall In
Memphis, Tennessee, until 2:30 o’clock P. M.
TUESDAY, OCTOBER 11TH, 1910, for the sale
of $435,000 of general liability bonds for street
Improvements of the City of Memphis, Tennessee.
Said bonds will be dated August 1st, 1910; onefifth of said bonds shall mature In one year, onefifth In two years, one-fifth In three years, onefifth In four years, and one-fifth in five years from
their date, without option of prior redemption,
and they shall bear Interest at the rate of six per
cent per annum, payable on the first days of
February and August In each year.
Bonds and
coupons payable In Memphis, Tennessee, oi* In
the City of New York, at the option of the holder
thereof.
No bids for less than par and accrued
Interest will be entertained, and the City reserves
the right to reject any and all bids.
Each bid
must be for the entire $435,000 of bonds, accom¬
STREET IMPROVEMENT
BONDS
STREET IMPROVEMENT BONDS
Notice is hereby given that sealed bids will be
bids will be
by Ennis M. Douglass, City Clerk of the
Clerk of the received
of Memphis, Tennessee, at the City Hall )n
City Hall In City
Memphis, Tennessee, until 2:30 o'clock P. M.
Memphis, Tennessee, until 2:30 o’clock P. M. TUESDAY, OCTOBER 11TH, 1910, for the sale
TUESDAY, OCTOBER 11TH, 1910, for the
of $275,000 of general liability bonds for street
sale of $300,000 of general liability bonds for
Improvements of the City of Memphis, Tennessee.
street Improvements of the City of Memphis,
Said bonds will be dated August 1st, 1910, payable
Notice Is hereby given that sealed
received by Ennis M. Douglass, City
City of Memphis, Tennessee, at the
Said bonds will be dated August 1st,
1910, payable August 1st, 1945, without option of
prior payment, bearing 414 per cent Interest per
Tennessee.
payable February 1st and August lsti
respectively.
Bonds and coupons payable In
Memphis, Tennessee, or In New York City, at the
option of the holder thereof.
No bids for less
annum,
will be entertained,
reject any and
than par and accrued Interest
and the City reserves the right to
all bids.
Each bid must be for the
August 1st, 1945, without option of prior payment,
bearing 4 M per cent interest per annum, payable
February 1st and August 1st respectively. Bonds
and coupons payable In Memphis, Tennessee, or In
New York City, at the optlonof the holder thereof.
No bids for less than par and accrued Interest will
be entertained, and the City reserves the right to
reject any and all bids. Each bid must be for
the entire $275,000 of bonds, accompanied by a
entire $300,000 certified check for $5,000, payable to the order of
accompanied by a certified check for the City of Memphis, as a guaranty of good faith
$5,000, payable to the order of the City of Mem¬ on the
part of the bidder, such check to be certified
phis, as a guaranty of good faith on the part of
Said check of the
the bidder, such check to be certified by some by some Memphis bank.
successful bidder shall be retained by the City as
panied by a certified check for $5,000, payable Memphis bank. Said check of the successful and for liquidated damages upon the failure of
to the order of the City of Memphis, as a guaranty bidder shall be retained by the City as and for such bidder to accept and pay for the bonds.
of good faith on the part of the bidder, said check liquidated damages upon the failure of such Checks will be returned to unsuccessful bidders.
Said bidder to accept and pay for the bonds. Checks The bonds are to be delivered and paid for in the
to be certified by some Memphis bank.
The
check of the successful bidder shall be retained will be returned to unsuccessful bidders.
City of Memphis.
The legality of these bonds
by the City as and for liquidated damages upon bonds are to be delivered and paid for In the City has been approved by Dillon, Thomson & Clay
of
Memphis. The legality of these bonds has been of New York City, a copy of whose opinion will be
failure of such bidder to accept and pay for the
bonds.
Checks will be returned to unsuccessful approved by Dillon, Thomson & Clay of New York furnished to the successful bidder.
bidders;
The bonds to be delivered and paid for City, a copy of whose opinion will be furnished to
For further Information apply to the under¬
1
In the City of Memphis.
The legality of these the successful bidder.
For further Information apply to the under¬ signed.
bonds has been approved by Dillon, Thomson &
E. H. CRUMP, Mayor.
Clay of New York City, a copy of whose opinion signed.
Attest: ENNIS M. DOUGLASS, City Clerk.
will be furnished to the successful
bidder.
For further information apply to the under¬
signed.
of bonds,
E. H. CRUMP,
Attest: ENNIS M. DOUGLASS, City
This September 17th, 1910,
Mayor.
Clerk.
E. H. CRUMP, Mayor.
Attest: ENNIS M. DOUGLASS, City Clerk.
This September 17th, 1910.
Montana,
REFUNDING BONDS
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 Kalispell, Montana, on
the 4th day of October, 1910, for the sale of
Municipal and Corporation Bands
C. B. Van Nostrand
80 WALL STREET
office of the County Treasurer
first days of January and
July of each year.
Bids will be opened at the
offloe of the County Clerk, ex-officio Clerk of the
Board of County Commissioners of said County,
at Kalispell, Montana, on Tuesday, October 4 th,
1910, at 10 o’clock a. m.
A certified check for
5 per oent of bid to accomjpany each bid, check
returned If bid Is reejcted. The Board re¬
serves the right to reejct any and all bids.
By order of the Board of County Commissioners.
C. T. YOUNG, County Clerk.
to be
We offer
a
very
exceptional
DRAINAGE
BOND
NETTINQ
INDUSTRIALS
$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¬
terest payable at the
of said County on the
September 17th, 1910.
Reynolds, Watson & Co.
$ I 25,000
Flathead County,
This
6%
400 The
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
IBST NATIONAL BANE
CHICAGO
BUILDING
0HI0AGO
Rookery
ESTABLISHED lilt
H. C. SPEER & SONS CO.
Flrit Nat Bank
Bldg, Chleag*
SCHOOL,
COUNTY AND
MUNICIPAL BONDS
Sept. 17 1910. j
THE CHRONICLE
tojthe Farmers’ & Merchants’Bank of Nevada, O.,atl03.15
andjaccrued interest—a basis of about 4.028%. Following
are
the bids:
Farmers’ & Merchants' Bank, Nevada
Citizens’ Savings Bank, Upper Sandusky
First National Bank, Upper Sandusky.
$3,094 50
-
Seasongood
A
—
.
Mayer, Cincinnati
Bank, Cleveland
Hayden, Miller A Co.. Cleveland^Maturity $600 yearly on Jan. 1 from 1912 to 1916 Inclusive.
—
.
First National
.
---------- --------
3,065
3,060
3,053
3,044
3,035
75
00
40
50
50
Wyandotte, Wayne County, Mich.—Bond Sale.—On
Sept. 14 the $25,000 4H% 30-year coupon water-worksextension bonds described in V. 91, p. 670, were sold to the
Wyandotte Savings Bank of Wyandotte, it is stated, at
104.40—a basis of about 4.24%.
Yorktown Independent School District (P. O. Yorktown),
DeWitt County, Tex.—Bonds Not Yet Sold.—The $20,000
5% 10-20-year (optional) school-house bonds offered without
success on July 16 (V. 91, p. 295) are still unsold.
Denomi¬
nation $1,000.
Date July 16 1910. Interest semi-annual.
Youngstown, Ohio.—Bond Sale.- —The following bids were
received on Sept. 12 for the eight issues of 5% street-improvement bonds described in Y. 91, p. 670:
$5,000
Bonds.
Citizens’ Nat. Bk.,Wooster_.*$5,140 00
First Nat. Bank, Cleveland-.
5,136 50
Stacy 4b Braun, Toledo
Firemen’s
Pension
Youngstown
$57 5
Bonds.
• $560 50
5,115 00
$800
Bonds.
$817 50 *$1,143 00
588 23
818 40
1,135 53
590 00
*821 00
1,139 00
585 46
581 00
814 56
808 50
1,130 19
1,122 00
Fund,
—
Davies, Bertram* CO.. Cine.
Breed A Harrison. Cincinnati
Seasongood * Mayer, Cine..
New First Nat. Bk., Columb.
Otts * Hough, Cleveland...
TlUotson & Wolcott Co.,Clev.
Fifth-Third Nat. Bk.. Cine..
Well, Roth * Co., Cincinnati
—
5,137 00
5,131 00
5,127 75
5,123 00
5,105 00
5,09100
5,051 00
5,039 00
$7,490
$1,110
Bonds.
$4,455
$1,545
Bonds.
Bonds.
Citizens’ Nat. Bk., Wooster
First Nat. Bank, Cleveland..*$7,693 50 *$4,586 50
Stacy * Braun, Toledo
7,662 27
4,567 70
Breed A Harrison, Cincinnati
7,677 25
—-—
Seasongood & Mayer, Cine.. 7,68 00
4,579 00
New First Nat.Bk.,Columbus 7,662 00
4,575 00
Otts A Hough, Cleveland
7,655 00
4,567 00
Tillotson A Wolcott Co.,Clev. 7,626 31
4,545 25
Fifth-Third Nat. Bank, Cine.
7,570 00
4,510 00
Well,
Roth
7,550 75
A
Co..
Cincinnati
•
Successful bidders.
* All or none.
Bonds.
$1.576 50
*1,580 55
--
$6,530
Bonds.
*$6,708 25
6,680
6,693
6,696
6,693
*6,664
6,548
19
25
50
00
00
85
1,573 11
1,561 00, *6,596 00
6,582 50
NEW LOANS.
749
All bids Include accrued Interest.
Maturity one-fifth of each Issue
yearly on Oct. 1 from 1912 to 1916 Inclusive.
A bid of $27,815 was also
received from Hayden, Miller A Co. of Cleveland for the entire
eight issues.
Yukonf Canadian County, Okla.—Bids Rejected.—All bids
Sept. 5 for the $30,000 water-works and the
$10,000 sewer 6% 25-year bonds offered on that day (V. 91,
p. 605) were rejected.
Denomination $1,000. Date Aug. 1
received on
1910.
Interest semi-annual.
Canadas Its Provinces and Municipalities.
Belleville, Ont.—Debenture Sate.—The ^$30,000 4%%
coUegiate-institute-constructiom debentures mentioned in
V. 91, p. 295, were sold on Sept. 10. They mature 30
years
from Aug. 1 1910.
Chippewa, Ont.—Debenture Election.—It is stated an
election will be held Oct. 25 to vote on the question of
issuing
$30,000 4^% 30-year water-works debentures.
Orowland Township, Ont.—Debenture Election.—Accord¬
ing to reports, a by-law will be voted upon on Sept. 28 to issue
$2,500 5% 10-year road debentures.
Dresden, Ont.—Debenture Sale.—The $17,000 4>£% 20year school-building debentures offered without success on
Aug. 3 (Y. 91, p. 544) have been awarded, it is stated, to
W. A. Mackenzie & Co. of Toronto.
Fort William, Ont.—Debenture Election.—An election will
be held Sept. 21, it is stated, to vote on
propositions to issue
the following 4^% debentures:
$65,000 20-year court-house and police-station debentures.
22.000 20-year street-improvement debentures.
12,000 City-hall debentures.
8,01/0 20-year fatr-ground-lmprovement debentures.
7,000 20-year cemetery debentures.
13,000 30-year park debentures.
Otlbert Plains, Man,—Debenture Election.—It is stated
that an election will be held Sept. 20 to vote on
to issue $10,000 6% 20-year school debentures.
a
proposition
Kemptville, Ont.—Debenture Offering.—Proposals will be
received until Oct. 1 for $6,000 5% debentures.
Date Dec. 31 1909.
Maturity $3,500 In 20 annual Installments and
$2,500 In 15 annual Installments.
NEW LOANS.
NEW LOANS.
i—-ipi-i-rwhpa-n-w>rtsi
8200.000
CITY OF TACOMA, WASH.,
872,000
CITY OF SUMMIT, N. J.,
WATER BONDS
NOTICE
IS
HEREBY
GIVEN
that
on
Monday, SEPTEMBER 26TH, 1910, at two
o’clock p. m., at the office of the Mayor of the
FUNDING
BONDS
Sealed proposals will be received by the Commoi
Summit, N. J., from 8 b
Council of the City of
8:30 p. m. on
City of Tacoma, Washington, in the City Hall,
TUESDAY, SEPTEMBER 20TH 1910
and opened at the last-named hour at a
publl
meeting of the said Common Council to be hel<
at the said time at the
Municipal Bldg. In the Cit1
of Summit, N. J., for the purchase or the
$72.00i
Issue of 4 H% bonds of the City of
Summit, N. J.
of the denomination of $1,000 00
each, payabl
fravlty Water System. Said bonds will be gen¬ In 30 years, Issued to pay off Improvement certifl
eral bonds of said City of the par value of $1,000 cates and certificates of Indebtedness
under Ac
each, payable In twenty years from date of Issue, of March 23d 1899, authorizing incorporated cities
with Interest at not exceeding live per cent per towns, townships and boroughs of this
State t
annum, payable semi-annually at the fiscal agency fund their floating indebtedness and the maturei
of the State of Washington, In New York City, and maturing bonds.
and known as
GREEN
Each proposal must be enclosed In a sealei
RIVER GRAVITY
WATER SYSTEM BONDS.
envelope properly endorsed with the name of th
Bids for said bonds will be received based on bidder and designating the
subject matter of th
the Interest rate proposed by the bidder, which bid and directed to the Common Council
of th
cannot exceed five per cent.
City of Summit, N. J.
The right Is reserved by the City to award tire
Bidders wHl state their prices In
writing
a
bonds or any part thereof to the highest and best well as In figures.
Each proposal must be accompanied
bidder, or to reject all bids; and the right Is also
by a cer
reserved to require a bond or deposit from a tilled check or cash to the amount of one
per cen
successful Udder to secure the faithful perform¬ (1%) of the amount bid; If certified check
is fur
ance of his contract to take and pay for bonds
nlshed. It shall be made payable to the City o
awarded.
Summit, N. J., without reserve.
For all Information apply to John F. Meads,
The Common Council of the City of
Summit
N. J., reserve to themselves the
City Controller.
right to accep
Dated Tacoma, Wash.. August 26th, 1910.
or reject any proposals for the
above-mentlone*
bonds as they may deem best for the
SINKINO FUND BOARD.
Interest
of
the
city.
A. V. FAWCETT,
direction of the Common Council of the Clt
s8By
Mayor.
of Summit, N. J.
JOHN F. MEADS,
J. EDW. ROWE, City Clerk.
City Controller.
RAY FREELAND.
Commissioner of Finance.
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 8th, 1910. and
Brovldlngfor the construction of the Green River
BLODGET & CO.
F. WM. KRAFT
LAWYER
CHICAGO, ILL.
60 STATE STREET, BOSTON
80 PINE STREET, NEW YORK
HODENPYL, WALBRIOGE $ CO.
7
A/all St., Naw York
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEASONGOOD A MAYER
Mercantile Library Building
owoinnati
TAX DEFICIENCY BONOS
PUBLIC NOTICE Is hereby given that the
Board of Trustees of the Village of White Plains
will receive bids on October 3rd, 1910, at 8
p. m.
at the Corporation Rooms on Grand
Street, for
the following bonds:
Twenty-three (23) Tax Deficiency Bonds of the
denomination of One Thousand Dollars each, to
bear date October 1st, 1910, and to become
paya¬
ble October 1st, 1920, to draw interest at the
rate
of four and one-half per cent
per annum, payable
semi-annually on the first day of April and Octo¬
ber of each year.
No bid will be received less than
Each
par.
bid shaH be accompanied by a certified
check
on a State or National Bank or
Trust Company
for five per cent of the par value of such
Bonds,
payable to the order cof the Treasurer of the VHlage of White Plains.
The Board of Trust<
Trustees reserves the right to re¬
ject any and all bids, if in its opinion it Is deemed
necessary or for the best Interests of the Village.
Dated, September 14th, 1910.
JOHN J. BROWN, President.
EARLE P. HITE, Clerk.
MUNICIPAL BONDS
Safest Investments
known. Yielding from
Railroad, Street By., Oas & Boo. Light
SECURITIES
ULEN, SUTHERLIN & CO,
CHICAO&
FORREST Jk. CO.
BANKERS
Ml Chestnot St..
PHILADELPHIA, PA.
Municipal and
Corporation Bonds
GEO. B. EDWARDS
Tribune Building. 154 Nassau Street,
Telephone 4218 Beckman.
NEW YORK. If. Y
Negotiations, Investigations, Settlements
In
or
out of New York
«3 WALL STREET
NEW YORK
/
City
Satisfactory References
WANTED
CHRONICLE
Jan. 16 and 30; Feb.
R. T. Wilson & Co.
Write for
Circular.
4% ta 6%
BANKERS
BONDS
Specialising in Examination of
STATE, CITY A RAILROAD BONDS
Municipal and Corporation Bond*
1811 FIRST NATIONAL BANK BLDQ..
823,000
Village of White Plains, N.Y.,
ISSUES
13; April 3, 1909.
Jan. 29, 1910
Will pay 20 cents a copy.
Oominereial 65 Financial Chronicle
138 Front St., Hew Yolk
Kincardine, Ont.—Debentures Voted.—A by-law has been
passed, it is stated, to issue $3,000 school debentures.
Moose Jaw, Sask.—Debenture Sale.—The following 43^%
coupon debentures offered on Sept. 5 (V. 91, p. 544) were
sold to Wood, Gundy & Co. of Toronto at 97.08 and interest:
$15,000 40-year electrlc-llght-system-extenslon
1910.
debentures dated Aug. 1
15,000 40-year Isolation-hospital debentures dated Aug. 1 1910.
$0,000 40-year produce-market debentures dated Aug. 1 1910.
10,000 40-year exhlbltlon-ground-lmprovement debentures dated
1910.
Aug. 1
40-year sub-flre-statlon-constructlon debentures dated Aug. 1 1910.
40-year highway debentures dated Nov. 1 1910.
10-year concrete-walk debentures dated Sept. 1 1910.
5-year plank-walk debentures dated Sept. 1 1910.
$75,000 40-year sewer and water debentures dated Nov. 1 1910.
Interest semi-annually and Is payable on the $375,000 debentures at the
Canadian Bank of Commerce In London, Eng., Montreal, Toronto and
Moose Jaw, and on the remaining Issues at the Canadian Bank of Commerce
10,000
20,000
12,000
5,000
In Moose Jaw.
The
tures:
[VOL. LXXXXI.
THE CHRONICLE
750
following bids were submitted for the above deben¬
Wood, Gundy & Co., Tor__a$497,050j Dom. Sec. Corp.,Ltd.,Tor_a$490,343
Aemlllus Jarvis & Co., Tor_.a:495,411 (Ontario Sec.
Co., Toronto a487,177
« Debentures to be delivered In Moose Jaw.
ered In London, Eng.
x
Debentures to be deliv¬
Strathcona, Alberta.—Debenture Sale.—On Sept. 5 the
13 issues of 43^% coupon debentures, aggregating $184,800 71, described in V. 91, p. 606, were awarded, it is
stated, to Aemilius Jarvis & Co. of Toronto.
Strathmore, Alberta.—Debenture Offering.—Further de¬
are at hand relative to the offering of the $2,000 6%
coupon fire-hall debentures mentioned in V. 91, p. 671.
Proposals for these debentures will be received until 6 p. m.
Sept. 30 by H. J. Spicer, Secretary-Treasurer. Interest
annually at Strathmore. No debt at present. Assessed
valuation 1910, $258,375.
Tilsonburg, Ont.—Debentures Authorized.—It is reported
that a by-law to issue $25,000 hydro-electric-power and light
debentures has been passed by the Town Council.
tails
Togo, Sask.—Debenture Offering.—Proposals will be re¬
m. to-day (Sept.
17) by R. F. Painter,
Secretary-Treasurer, for $1,000 6% debentures, repayable
with interest, in ten annual installments.
Venn, Sask.—Debenture Sale.—During the month of
August Nay & James of Regina purchased $1,500 6%
permanent-improvement debentures, due part yearly for
ceived until 12
Nanton, Alberta.—Bids Rejected.—The bids submitted on fifteen years.
Sept. 6 for the $6,000 electric-light and the $1,500 fire-pro¬
tection 5% debentures offered on that day (V. 91, p. 545)
Victoria, B. 0.—Debentures Voted.—By-laws providing for
the issue of the following debentures were approved, it is
were rejected.
Nepigon Township, Ont.—Debenture Sale.—An issue of stated, by the voters on Aug. 29: $50,000 sewer loan,
$3,000 6% water-works debentures has been sold, according $50,000 school loan, $75,000 Dallas Road protection,
$15,000 isolation hospital and $20,000 public-convenience
to reports.
Maturity part yearly for 20 years.
and a Spring Ridge high-school site.
Niagara Falls, Ont.—No Action Yet Taken.—Up to
Wadena, Sask.—Debenture Sale.—On Sept. 1 the $4,000
Sept. 14 no action had yet been taken looking towards the
issuance of the $2,500 5% 20-year fire-hall debentures voted 6% coupon municipal-building debentures described in
V. 91, p. 545, were awarded, it is stated, to W. A. Mackenzie
(Y. 91, p. 357) on Aug. 1.
Maturity part yearly for 15 years.
North Himsworth Township, Ont.—Debenture Sale.—This & Co. of Toronto.
Ont.—Debenture
Woodstock,
Election.—It is reported that
township, it is stated, has disposed of $7,500 6% school¬
a
by-law
will
be
Sept.
19 to issue $10,000 loan
voted
on
building debentures, repayable in 15 annual installments.
debentures to the Linderman Machine Co.
Stratford, Ont.—Debenture Sale.—Reports state that the
Ontario Securities Co. of Toronto has purchased $40,000 5%
Vorkton, Man.—Debentures Voted.—According to reports,
local-improvement debentures and $82,500 43^% hospital, propositions to issue $61,000 sewerage, collegiate and localimprovement debentures were favorably voted on Aug. 30.
bridge, electric-light and heat debentures.
MISCELLANEOUS.
NEW LOANS
$67,700 Refunding Bonds
The
$9,000 Street Department Bonds
City of Trenton, N.J.
Office of the City Treasurer,
Trenton, N. J., Sept. 7th, 1910.
SEALED PROPOSALS will be received at
this office until 12 o’clock noon, Tuesday
SEPTEMBER 20TH, 1910,
for the purchase of the whole of $67,700 City of
Trenton, N. J., ten-year four and one-half per
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.
Also for the purchase of the whole of $9,000
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 of
Trenton Is fully pledged.
Each bidder will be required, as an evidence of
rood faith, to enclose certified check on a National
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¬
Trust
Company of America
37-43 WALL
222
LONDON OFFICE!
95 Gresham St.
Broadway, New York.
CAPITAL AND SURPLUS $8,000,000
Invites accounts of individuals firms and
corporations.
daily balances.
Pays interest on
Executes trusts of every description.
MELLON NATIONAL BANK
PITTSBURGH, PA.
cessful 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
As your reserve depositary, this
bank offers you perfect service and
liberal interest on your balances.
Treasurer.
H. E.City
EVANS,
Bm
8TREET, NEW YORK.
COLONIAL BRANCH*
-
McCOY & COMPANY
Municipal and
Corporation Bords
181
$7,000,000
La Salle Street, Chicago
OTTO JULIUS MERKEL
BROKER
44 AND 4i WALL STREET, NEW YORK
INVESTMENT SECURITIES
Owwniii-w Invited,
Bank and Trust
Company Stocks
BROOKLYN
BOUQHT AND SOLD
NEW YORK AND
CLINTON
CAPITAL AND SURPLUS,
1 WALL ST..
GILBERT
NBW YORK.
The Commerce Court at
Washington
engaged in inter-State or foreign
required by law to keep hereafter an agent at
Washington for service of process.
All common carriers
commerce are
For full information
regarding this law, address
%)xt Corporation $rnst Co.
NEW YORK
CHICAGO
ST. LOUIS
BOSTON
PHILADELPHIA
Sept. 17 1910.
THE CHRONICLE
xvxi
©xmxjratti
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMPANY
BOSTON, HASS.
BOSTON, MASS.
I
APITAL. *1.000.000
Capital and Surplus
SURPLUS. *2.000.000
Safe Deposit Vaults
Authorized to act as Executor, and to receive
sod hold money or property In
trust or on deposit
from Courts of Law or
Equity Executors,
Administrators, Assignees, Guardians, Trustees
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
OFFICERS
DAVID R. WHITNEY. President
CHARLES F. CHOATE, Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER, Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN, Asst. Sec. & Treas
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Officer
CHAS. E. NOTT. Mgr. Safe Dep. Vita.
BOARD OF DIRECTORS
William Endloott, Chairman
Walter C. Bay lies
James G. Freeman
Allred Bowdltch
8. Parker Bremer
Morris Gray
James R. Hooper
Ernest Lovering
Timothy E. Byrnes
Charles F. Choate
Alexander Cochrane
T. JEFFERSON COOLIDGE JR., Chairman
Executive Committee
GORDON ABBOTT, Chairman of Board.
FRANCIS R. HART, Vice-Chairman.
Charles F. Adams 2nd
Philip Y. DeNormandle
Henry C. Jackson
F. Lothrop Ames
Philip L. Sal to ns tall
Philip Dexter
George E. Keith
Herbert M. Sean
Oliver Ames
Gardiner M. Lane
A.
George
Draper
C. W. Amory
Quincy A. Shaw
Frederic C- Dumaine
Col. Thos. L. Livermore Howard
William Amory
Stockton
William Endicott Jr.
Arthur Lyman
Charles F. Ayer
Philip Stockton
W11 mot R. Evans
Charles S. Mellen
Charles
A.
John S. Bartlett
Stone
Frederick P. Fish
Laurence Minot
Galen L. Stone
Samuel Carr
Reginald Foster
Maxwell Norman
Nathaniel Thayer
B. P. Cheney
Hon. Richard Olney
George P. Gardner
Lucius Tuttle
H on.T. Jeff
Edwin Farnham Greene
ersonCoolldge
Robert T. Paine 2nd
H. O. Underwood
T. Jefferson Coolldge Jr.
Robert F. Herrick
Parkman
Henry
Eliot Wadsworth
Charles E. Cottlng
Howe
Henry
S.
Andrew W. Preston
Stephen If. Weld
AJvah Crocker
Walter Hunnewell
Richard S. Russell
Sidney W. Winslow
Charles W. Whittier
PRESIDENT, PHILIP STOCKTON.
B. DONHAM
Treasurer. FREDERIC G. POUSLAND
JULIUS R. WAKEFIELD
Cashier, GEO. W. GRANT
Manager Credit Dept., ELMER E. FOYE.
Secretary. CHESTER B. HUMPHREY
Vice-Presidents, WALLACE
Trust Officer. F. M. HOLMES
Authorized Reserve Agent for Trust Companies in
Maine, Massachusetts and Rhode Islands
Henry H. Proctor
James M. Prendergast
Herbert M. Sears
Lawrence M. Stockton
Nathaniel Thayer
Eugene V. R. Thayer
David R. Whitney
Philip Dexter
William Endloott Jr.
Francis W. Fabyan
William Farnsworth
Frederick P. Fish
George Wlgglesworth
Girard Trust
Capital and
as
Executor. Administrator, Trustee.
Corporations.
MORTGAGE & TRUST
COMPANY
NEW YORK
CAPITAL,
$2,000,000.00
SURPLUS,
$4,000,000.00
Invites Personal and Business
Accounts. Acts
as
Trustee, Ex¬
Administrator, Guard¬
ian and in
all
Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
ecutor,
B’way A 73rd St.
Interest Allowed
or
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.
E. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON. 2d Vice-President.
C. J. RHOADS, Sd Vice-Pres, and Treasurer.
E. S. PAGE, Secretary.
MANAGERS:
Effingham B. Morris,
John A. Brown Jr.,
John B. Garrett,
William H. Gaw,
Francis I. Go wen,
Geo. H. McFadden,
Henry Tatnall,
Isaac H. Clothier,
Thos. DeWltt Cuyler,
0. Hartman Kuhn,
James Speyer,
Edward J. Berwlnd,
Randal Morgan,
Edw. T. Stotesburv,
Charles E. Ingersoll.
John S. Jenks Jr..
Henry B. Coxe,
Edgar C. Felton.
William
T.
ElUott,
W. Hinckle Smith,
B. Dawson Coleman.
Broad and Chestnut Streets,
Geo. H. M9Fadden &
Bro.,
COTTON MERCHANTS
PHILADELPHIA. NEW YORK.
Liverpool Correspondents:
FREDERIC ZEREGA A CO.
Correspondents:
MCFADDEN BROTHERS A CO.
orrespo
SOOIET E D’lM
MPORTATION ET DE COMMIS’N
Mason Smith & Co.,
OTTON COMMISSION
MERCHANTS
NEW
ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX.
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 Pepper, Asst. Treas.
Frederick B. WUcox .Auditor
BOARD OF DIRECTORS.
Samuel P. Colt
Herbert N. Fenner
Olney 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
Angus McLeod
Cyrus P. Brown
Ezra Dixon
Chas. C. Harrington
Howard O. Sturgis
Louis H. Comstock
Edward D. Pearce
Englehart C. Ostby
Buyers of Spot Cotton. Orders for Contracts Exe¬
cuted in New Orleans. New
York,
Liverpool and Havre Markets.
R. H. ROUNTREE &
CENTRAL
TRUST COMPANY
CO,
OF ILLINOIS
Commission Merchants.
•OTTON, GRAIN, PROVISIONS and COFFEE
COTTON EXCHANGE BUILDING.
NEW YORK.
GWATHMEY & CO.
COTTON MERCHANTS
22
Exchange Place,
-
-
NEW YORK
ROBERT MOORE &, CO.
if Beaver Street. New York.
ORDBltS FOR FUTURE DELIVERY BXE-
STBD
IN NEW YORK AND
OHANGBS.
Capital and Surplus
-
$2,500,000
CHARLES G. DAWES, President.
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.
JOHN L. LEHNHARD, Asst.Secretary.
Trust Officer.
LIVERPOOL BANKING, SAVINGS
BOTTOM PURCHASED FOR SPINNERS' USB.
CHICAGO
A.
and
A
AND
DEPARTMENTS.
1*0
caa OHO
PB0FZr3]^°»0W»UUU
GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
DIRECTORS.
John I. Boggs. President Milwaukee
Llgkt Heat *
Traction
Co.
Wilbur F. Boyle. Boyle & Priest.
James E. Brock. Secretary.
Murray Carleton. President Carleton Dry Goods Oo.
Charles Claris.
Horatio N. Davis, President Smith & Davis
Mfg.Co.
John D Davis, Vice-President.
David R. Francis, Francis, Bro. & Co.
August Gehner, President German- AmerlcanBank
S. E.
Hoffman, Vloe-President.
Breckinridge Jones, President.
Wm. G. Lackey. Vice-President and Bond
Offioer
W. J. McBride, V.-Pres. Haskell & Barker
Car Cc
Nelson
W.
McLeod, Vice-President
Grayaon-
McLeod Lumber Co.
Saunders
Nor veil.
Hardware Co.
President
NorveU-Shaplelgb
Robert J. O’Reilly, M. D.
Wm. D. Orthwein, President Wm. D.
Orthweln
Grain
Co.
Henry W. Peters, President Peters Shoe Co.
H.C. Pierce, Chairman Board
Waters-PieroeOllCe
August Schlafly. August Schlafly & Sons.
R. H. Stockton. President Majestic
Mfg. Go.
Julius S. Walsh, Chairman of the Board.
Rolla Wells.
PHILADELPHIA
Providence, R.
125th St. & 8th Ave.
CAPITAL, SURPLUS
on
Industrial Trust Company
55 Cedar St.
Fourth & Pine Sts., St. Louis.
$10,000,000
CHARTERED 1835.
Acts
UNITED STATES
Mississippi Valley Trust Co.
Company.
Surplus,
Assignee and Receiver.
Financial Agent for Individuals
Bremen
$12,500,000
DIRECTORS.
TBTJ8T
The Trust Company
of North America
503-505-507 Chestnut St.. Philadelphia
CAPITAL
SI .000.001-
HENRY G. BRENGLE, President.
JOS. S.
CLARK, Vice-President.
CHAS. P. LINE AWE AVER. Sec. & Treas.
ADAM A. STULL, Chairman of Boardl
DIRECTORS.
Henry G. Brengle,
J. Levering Jones.
James Crosby Brown. Malcolm Lloyd,
John Cadwalader.
John Mcllhenny,
E. W. Clark Jr.
Eckley B. Coxe Jr.(
Edwin 8. Dixon;
Eugene L. Ellison.
Joseph C. Fraley.
Harry C- Francis,
Henry L. Gaw Jr.,
Richard Wain Metre
Clement B. Newboid
John W.
Pepper.
William F. Read.
Adam A. Stull.
Edward D. Toland,
Joseph R. Wain wright.
Howard 8. Graham.
William D. Wlnsor
Samuel F. Houston.
Rhode Island Hospital
Trust Company
PROVIDENCE, R. I.
CAPITAL
SURPLUS
Royal C. Taft,
S2.000.000
S2.000.000
DIRECTORS.
Howard O. Sturges,
Robert H. I. Goddard, Stephen O. Metcalf,
Robert I. Gammell,
Waiter R. Callender.
William B. Weeden,
Edward Holbrook,
Edward D. Pearce.
James E. Sullivan,
Robert Knight,
Benjamin M. Jackson;
John W. Danielson,
John R. Freeman.
Herbert J. Wells.
Charles S. Mellen.
Lyman B. Goff,
Robert W. Taft,
Rowland G. Hazard,
Webster Knight.
Nelson W. Aldrich,
Stephen O. Edwards.
Samuel R. Dorranoe.
Frank W. Matteson.
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 OtflOOf.
CYRUS E. LAPHAM, Asst. Sec'y.
JOHN E. WILLIAMS, Asst. Sec’y,
HENRY L. SLADER, Asst. 800*7.
G. A. HARRINGTON. Asst.Tr.OfftoeV
LXXXXI
THE CHRONICLE
inti
ffiottcm.
WOODWARD
& STILLMAN
E. H.ROLLINS
COTTON MERCHANTS
y^VERSZ a Company
16 to 22 WILLIAM STREET,
BANKERSJ
NEW YORK
Negotiate and Issue Loans tor Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable tor
AMERICAN COTTON OF ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
Investment.
Established in 1850.
Henry Hentz & Co.
At th«
Ne»NYortt
luce
Exchange
Hubbard Bros, & Co.
RAILROAD
MUNICIPAL
PUBLIC UTILITY
for Cities and Corporations
List on Application
Fiscal Agent
COMMISSION MERCHANTS
16 to 22 William Stieet, New York.
Eweeute Order* for Future Deliver*
corroN
At the New York, Liverpool and New Orleans
Cotton Exchanges* Also orders tor
COFFEE
At the New York Coffee Exchange
OR AIN AND PROVISIONS
at the Chicago Board of Trade and
Established
BONDS
ST,
206
& SONS
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION 5 RAILROAD BONDS.
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
S&ND FOR CIRCULARS.
COFFEE EXCHANGE BUILDING
HANOVER SQUARE.
NEW YORK
PEABODY, HOUGHTELING & CO.
COTTON MERCHANTS
181 La Salle Street,
Liberal Advances Made
on
Cotton
Consignments.
CHICAGO.
F. H. PRINCE & CO.
BANKERS
[Established 18564
Hopkins, Dwight & Co.
COTTON
and
COTTON-SEED OIL.
BOSTON,
MASS.
GEO. H. BURR & CO.
Room 62 Cotton Exchange Building.
NEW YORK.
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
Commercial Paper
43
Exchange Place
-
Members of New York and Boston Stock Exchanges
New York
LEHMAN, STERN 8b CO., Limited, New Orleans,
LEHMAN BROS.
Nos. 16-22 William Street, New York.
St Louis
Boston
Chicago
Kansas City
liiadelphia
San Francisco
Members of the Stock. Cotton, Cofjee
ana Produce Exchanges, New York.
Orders executed on the above Exchanges, as well In
New Orleans. Chicago and foreign markets.
Stephen M. Weld & Co.,
COTTON MERCHANTS,
82-92 Beaver
Street,
-
New York City
Sullivan brothers & Co.
Municipal and Corporation
First National
Bank Bldg.
Chicago
BONDS
111 Broadway
New York
BONDS
—
437
CHESTNUT
Chas. S. Kidder & Co.
Siegfr. Gruner & Co.
MUNICIPAL & COR¬
PORATION BONDS
COTTON MERCHANTS
17 South William
Street,
182 LA SALLE
8TBKET,
CHICAGO
NEW TOBK.
WILLIAM RAY & CO.
Successors to
GEO
COPELAND 8b CO.,
COTTON BROKERS.
4S Cotton Exchange.
New York.
Orders for future delivery contracts executed on
the New York and Liverpool Cotton Exchanges.
STREET
PHILADELPHIA, PA.
BOSTON, PHILADELPHIA, PROVIDENCE
Liverpool, WELD 8s CO.
Bremen, ALBRECHT, WELD 8b CO.
—
{%&*&**** Eic‘’?an"
(Established 18684
W. T.
HATCH 8b SONS
BANKERS AND BROKERS
71 Broadway,
-
Naw York
MEMBERS OF
NEW YORK STOCK EXCHANGE.
Devitt, Tremble & Co.
HOLLISTER, FISH & CO.
BONDS FOR INVESTMENT
FIRST NATIONAL BANK
BLDG.,
CHICAGO
SMITH & HAYNE
PHILA. NATIONAL BANK BLDG.,
Frank B. Hayne (In Comraendum)
PHILADELPHIA
BARKERS
members How York Stock Exchange
Investment Securities
Nassau & Pina
Straats, N. Y.
Cotton Brokers,
COTTON EXCHANGE BUILDING.
NEW
ORLEANS, LA.
ORDERS^FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS, NEW YORK
AND LIVERPOOL MARKETS.
(Other cotton cards on preceding oage.)
fj*tttanxtal.
DominicK & DomlnicK
H. T. HOLTZ & CO.
CORPORATION BONDS
RICHMOND. VIRGINIA
$2,000,000
JOHN B. PURCELL, President
JOHN M. MILLER JR.. V.-Prest. 8b Cashier
FREDERICK E. NSlTING. 2d Vloe-Prest
Correspondence Invited
Members New York Stock Exchange.
MUNICIPAL AND
FIRST NATIONAL BANK
Capital and Earned Surplus,
115 BROADWAY
Correspondence Invited
171 LA RAT.tj
STREET, CHICAGO
United Bank Note Corporation Stocks
DICK BROTHERSJk
CO.
BANKERS AND BROKERS.
SO Broad St..
New Yeffcko
Members of N. Y. and Phliv Stock Exchange.
New York, New Orleans and Llverooot Cotton
Exchange*! New York Coffee Exchange
and
Chicago Board of Trade.
@FedFRASER