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jnemrti
The
wind
INCLUDING
Electric Railway Section
State and City Section
Railway & Industrial Section
Bankers' Convention Section
Bank St Quotation Section
Railway Earnings Section
SATURDAY, SEPTEMBER 21 1912
VOL. 95
The Throuirte:
NO. 2465
11-rel, ending Sept. 14.
Clearings at1912.
PUBLISHED WEEKLY.
Terms of Subscription-Payable in Advance
$
293,094,872
26,950,750
24;485,129
23,038,437
15,105,287
8,294,992
6,782,700
6,257,462
3,795,548
3,040,663
2,200,351
2,450,887
708,295
1,177,000
1,420,000
1,134,944
718,935
876,786
1,514,000
1,532,486
787,040
1,295,455
740.850
694,356
663,548
473,000
550,000
432,337
506,676
380,006
324,716
435,210
160,000
52,349
3 432.081,065
1911.
Chicago
275,427,081
Cincinnati
26,539,100
For Six Months
Cleveland
20,093,936
European Subscription (including postage)
Detroit
20,657,045
European Subscription six months (including postage)
Milwaukee
14,860,921
pcstage)
(including
London
in
Annual Subscription
9,802,924
Indianapolis
_
Six Months Subscription in London (including postage)
5,543,800
Columbus
Canadian Subscription (including postage)
5,179,461
Toledo
3,340,483
Peoria
Subscription includes following Supplements2,666,111
Grand Rapids
yearly)
RAILWAY
AND
INDUSTRIAL
(3
times
(monthly)
QUOTATION
BANK AND
2,261,149
Dayton
RAILWAY EARNINGS(monthly) ELECTRIC RAILWAY(3 tunes yearly)
2,414,554
Evansville
STATE AND CITY(semi-annually) BANKERS'CONVENTION (yearly)
696,707
Kalamazoo
1,102,732
Springfield, Ill
Terms of Advertisind-Per Inch Space
1,507,000
Akron
e(v1i4
onatliaste lines)
raw
co
84$4 20 Fort Wayne_ _
1,007,347
Transient matter per inch sp
22 00 Rockford
681,445
'
ll'ihxr170/%nflylisths m gri
ni:
83)
)
29 00 Lexington
'747,850
Standing Business Cards
50 00 South Bend
607,677
Twelve Months(52 times)
87 00 Youngstown _ _ _ _
1,575,326
667,671
CHICAGO OFFICE-Geo. M.Shepherd,513 Monadnock Block;Tel.Harrison 4012. Bloomington
11100,360
Canton
LoNDON OFFICE-Edwards & Smith,1 Drapers' Gardens, E. C.
657,432
Quincy
532,536
WILLIAM B. DANA COMPANY, Publishers,
Springfield, 0..
456,358
Decatur
P.0. Box 958. Front, Pine and Depeyster Ste., New York.
464,138
Mansfield
465,057
Jackson
Published every Saturday morning by WILLIAM B. DANA COMPANY, Danville
398,756
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold G. Dana, Lima
395,195
Vice-Presidents; Arnold G. Dana, See. Addresses of all, Office of the Company. Lansing
350,000
206,508
Jacksonville, Ill_
324,547
Owensboro
151,856
Ann
Arbor
RETURNS.
CLEARING-HOUSE
33,092
Adrian
rahe following table, made up by telegraph, &o., indicates that the
402,905,959
Tot. Mid.West
total bank clearings of all clearing houses of the United States for week
ending Sept. 21 have been $3,220,145,900, against $3,154,740,303 last
59,535,211
52,416,219
San Francisco
week and $2,925,861,871 the corresponding week last year.
21,986,487
21,505,275
Los Angeles
12,028,672
12,332,383
Seattle
12,262,896
13,743,903
Per
Clearings-Returns by Telegraph.
Portland
4,865,632
4,380,211
0912.
1911.
Cent
Week Batting Sept. 21.
Spokane
6,715,192
5,865,994
Salt Lake City_
4,086,454
4,775,065
$1,498,343,602 $1,342,974,379 +11.6 Tacoma
New York
3,362,107
3,925,508
123,604,947
+4.9 Oakland
129,613,030
Boston
1,865,552
1,775,029
114,557,353 +12.1 Sacramento
Philadelphia
128,403,481
2,887,415
1,750,000
29,022,622 +12.0 San Diego
32,512,608
Baltimore
1,117,223
854,77E
227,911,238 +17.0 Fresno
268,649,652
Chicago
1,336,500
1,018,024
66,078,451
+1.5 Stockton
67,042,427
St. Louis
680,693
-3.2 San Jose
769,790
16,027,523
15,514,726
New Orleans
1,158,279
843,323
Pasadena
-- 432,978
394,053
$2,140,079,526 $1,920,176,513 +11.5 North Yakima..
Seven cities, five days
369,384
+7.5 Reno
315,998
500,004,692
537,424,276
Other cities, five days
127,540,571 133,815,653
Total Pacific
$2,677,503,802 $2,420,181,205 +10.6
Total all cities, five days
542,642,098
505,680,666
+7.3 Kansas City
All cities, one day
'r55,462,406
51,922,094
25,648,18E
22,108,972
Minneapolis
.., 99n 1Jc (Inn e9 09C fatil 571
.4.101
17,044,928
15,709,251
Omaha
9,813,157
10,293,298
The full details for the week covered by the above will be given next St. Paul
10,568,716
9,792,319
Denver
made
being
clearings
upby
to-day,
the
Saturday. We cannot furnish them
6,938,132
8,173,077
Joseph
clearing houses at noon on Saturday, and hence in the above the last day of St.
3,802,168
4,346,593
Des Moines
the week has to be in all cases estimated, as we go to press Friday night.
2,329,366
3,104,889
We present below detailed figures for the week ending with Saturday Sioux City
5,349,915
,4,968,637
Duluth
noon, Sept. 14, for four years. •
3,542,174
3,342,639
Wichita
1,768,682
1,757,881
Lineoln
1,450,649
1,427,039
Week ending Sept. 14.
Topeka
1,499,906
1,354,801
Davenport
Clearings at
Inc. or
1,287,956
1,163,876
Cedar Rapids
• 451,464
930,404
1910.
1911.
Dec.
1912.
Fargo
1909.
813,121
792,507
Colorado Springs.
670,844
658,287
$
Pueblo
$
%
$
$
323,090
315,288
1,769,925,459 1,717,779,579 +2.0 1,519,351,551 2,277,891,889 Fremont
New York
1,638,169
1,301,338
143,211,274 135,680,150 +5.5 131,156,741 419,111,337 Waterloo
Philadelphia ___
1,115,511
1,097,269
48,514,812
46,766,243 +12.0
52,358,796
47,529,093 Helena
Pittsburgh
312,253
375,000
+3.3
32,278,950
33,143,006
34,225,364
26,751,998 Aberdeen
Baltimore
210,415
187,167
+4.2
9,111,614
10,413,251
9,621,594 !Dustings
10,851,969
Buffalo
418,077
326,719
5,827,338
4,219,647 +32.4
5,768,583 Billings
5,588,130
Albany
6,223,083
6,262,742
6,240,470 +5.1
6,561,978
155,021,902
Washington _
142,886,630
Tot.oth. West.
3,677,636
+3.1
4,514,101
3,739,155
4,653,086
Rochester
76,567,305
75,270,778
2,595,995
2,592,643 -7.4
2,379,309 St. Louis
Scranton
2,400,000
18,656,839
18,099,350
2,165,973
Syracuse
2,233,099 +13.8
3,123,741 New Orleans_
2,541,684
12,505,900
12,106,092
Louisville
1,608,119
1,651,434 +10.0
Reading
1,815,612
1,614,933
21,390,507
19,549,069
1,459,707
Wilmington
1,331,734 Houston
1,597,931
1,530,747 +4.4
12,100,000
10,477,000
1,371,496
Wilkes-Barre
1,433,209 Galveston
1,411,390
1,405,097 +0.4
7,505,066
7,418,090
Richmond
1,693,681
Wheeling
1,883,679
1,543,064
1,733,560 +8.7
7,331,431
6,128,208
1,453,278
1,727,576
Trenton
1,438,212 +20.1
1,399,468 Fort Worth
4,807,502
8,810,189
Savannah
881,410
869,01.
+2.8
York
845,681
977,861
11,361,923
12,425,697
910,169
984,038
980,539 +0.4
837,478 Atlanta
Erie
4,772,430
6,363,443
591,329
512,371
45.9,050 . +11.5
479,686 Nashville
Greensburg
5,914,680
4:473,483
MemPhis
516,421
560,718
563,824
8.4
493,476
Altoona
3,112,598
3,202,397
643,40C
551,600
619;000 +3.9
479,900 Norfolk
Binghamton _
2,384,774
2,286,048
_
_
Birmingham
500,513
615,777
499,400
+23.3
518,595
Chester
1,815,618
2,460,381
Augusta
073,668
1,350,000
949,063 +42.3
Lancaster
1,789,891
1,831,710
Knoxville
2,969,021
2,761,313
Jacksonville
1,773,459,372
2,046,244,988
1,976,258,726
+3.5
2,542,288315
Total Middle._
2,029,863
2,658,843
Chattanooga __ _
1,289,383
1,582,897
153,961,936 145,492,665 +5.8 143,101:007 161,032,576 Charleston
'Boston
1,664,902
1,763,459
7,234,500 +3.7
7,924,300
7,147,300 Little Rock
7,502,500
ProvInence
1,210,324
1,357,354
3,275,752 Mobile
4,390,815
3,923,145 +11.9
3,620,005
Hartford
1,522,267
1,586,147
2,769,050 +1.3
2,504,337
2,806,585
2,536,813 Oklahoma
New Haven
3,283,488
3,974,263
Macon
2,007,667 +16.6
2,165,370
1,900,597
2,340,837
Portland
2,200,000
1,718,067
2,164,139 +12.3
2,079,494
2,430,990
2,100,000 Austin
Springfield
258.968
208,302
2,586,231
2.865,641 -8.9
1,843,626 Vicksburg
2,611,769
Worcester
700,000
698,597
N.
C
Wilmington,
1,088,531
1,002,193
1,175,417
+8.0
1,153,683
Fall Fiver
466,776
385,297
1,032,865 +8.3
889,788
1,229,131 Jackson
1,118,131
New Bedford.621,931
850,187
619,829
+6.5
567,801
571,858 Tulsa
659,010
Holyoye
764,418
756,103
603,658 +7.7
527,552
564,782 Muskogee
650,000
Lowell
213.676,159
208.524,340
Southern
451,852
Total
+16.7
527,516
Bangor
8,154 3.10,303 3.034.641 6514
Total all
4-5.8 Inn 9AR.Ifis 183.356.118
Tot. New Eng. Ian 175 roR 170.255.351
Outside N.Y 1,384,814,844 1,316,867.080
.V otes.-For Uauadtan clearings see -Commercial and Miscellaneous News."
For One Year
$10 00
6 00
13 00
7 50
£2 14s.
£1 lie.
$11 50
Inc. or
Dec.
+6.4
+1.5
+21.6
+11.6
+1.7
-15.4
+21.4
+20.8
+13.6
+14.0
-2.7
+1.5
+1.7
+6.8
-5.8
+12.6
+5.4
+17.2
+149.2
-2.7
+18.0
+17.7
+13.6
+30.4
+23.5
+1.9
+18.3
S-8.5
+28.1
+8.6
+57.1
+34.2
+12.8
+58.2
+7.2
-12.0
-2.2
+2.1
+12.1
-10.0
-12.7
-14.4
-14.3
+5.1
+65.0
+30.8
+31.2
-11.6
+37.4
+9.6
+16.9
-4.7
1909.
1910.
8
256,853,899 267,897,135
24,898,650
23,460,700
21,058,075
20,402,278
17,696,068
17,750,422
12,413,798
13,065,482
8,087,748
9,620,701
5,951,300
5,480,100
4,224,960
4,196,783
3,098,631
2,889,187
2,639,222
2,644,723
1,976,800 . 1,970,753
2,079,377
2,277,295
651,761
645,328
997,210
1,091,634
1,015,000
770,000
980,599
883,679
678,685
632,735
652,344
633,183
534,092
547,723
1,212,96E
1,102,751
519,621
629,713
1,055,187
751,447
591,744
505,957
531,532
490,857
489,789
521,984
454,509
444,584
370,000
353,000
402,960
307,038
328,054
355,549
300,000
302,255 .
299,896
400,000
4 137,177
137,65;
27,266
28.006
373,189,115 383,010,948
F
52,953,932
17,441,094
12,284,793
11,801,542
5,40(4746
6,1184180
6,175,43 4b
2,909,142
1,660,370
1,500,000
859,178
757,338
743,993
765,409
475,000
379,690
122,735,131
45,850.985
12,177,448
14,255,911
9,155,288
4,907,997
6,641,685
6,208,330
2,023,118
1,426,681
1,330,000
853,514
754,554
580,789
425,319
410,962
300,000
107,302,641
49,455,930
+6.8
55,369,616
+16.0
23,779,046
25,288,727
+8.4
14,230,033
17,034,630
-4.7
11,505,98$
10,399,105
+7.9
10,786,928
9,025,530
5,853,965
6,230,616
+17.8
+14.3
3,407,052
3,434,844
2,976,862
+33.3
2,959,019
5,967,240
4,296,683
+7.7
2,670,251
3,424,373
+6.0
1,407,399
-0.6
1,647,520
1,425,323
1,228,188
-1.6
,1,205,344
+10.7
1,225,990
971,813
+10.7
1,105,669
835,368
-51.5
715,962
-2.6
813,391
751,707 11
+1.9
606,434
688,675
258,281
+2.5
337,194
+25.9
1,034,967
+1.7
903,261
804,597
+20.1
447,851
+12.3
194,000
+28.0
130.392
172,200
+8.5 149,559,682 137,453,208
67,576,745
66,473,965
+1.7
15,466,527
16,859,353
+3.1
12,022,682
10,661,869
+3.3
+9.4
16,966,440 7 13,958,649
5,818,000
+15.5
8,854,000
7,362,973
7,151,999
+1.5
6,760,426
6,541,141
+191
-45.9
6,783,574
8,288,865
-8.6
8,419,966
9,582,984
+33.3
3,809,037
3,570,155
+32.5
3,672,043
3,983,599
+2.9
2,880,289
2,459,174
2,194,338
2,268,715
+4.3
-26.5
2,606,890
'1,836,319
+2.3 :
114 1,671,313
1,426,888
2,250,000
1,625,949
+7.5
+31.0
1,753,184
1,463,933
-18.5 ; 1,290,707
2,000,000
1,632,979
1,377,436
+5.9
1,198,464
-10.8
1,344,984
--4.0
2,550,000
2,000,000
1,321,536
-17.9
1,165,737
+28.1
1,514,136
833,331
+24.3
238,286
216,453
460,314
409,364
+0.2
+21.0
400,000
405,000
+36.8
+1.0
+2.5 179.910.40:3 17:3.971,201
±4 2,765.321,1)71, 3.527.582,96
+5.2 1,245,970,317 1;449,391,07'
r
708
THE CHRONICLE
OUR CONVENTION NUMBER.
With to-day's issue of our paper we send our subscribers our 'Bankers' Convention" Section, reporting
the proceedings of the Convention of the American
Bankers' Association, held at Detroit last week.
This Convention number gives all the papers and addresses read and delivered before the Convention, and
also the proceedings and discussions on the floor, including the deliberations of the Trust Company Section and Savings Bank Section.
THE FINANCIAL SITUATION.
• A highly significant event is recorded in a four-line
telegraphic dispatch which has appeared in the daily
papers this week and has passed almost unnoticed.
We have reference to the announcement :that the
Democratic State Convention in Wisconsin on Tuesday
night of this week after a five-hour debate adopted a
platform which pledges the repeal of the State Income
Tax Law. Let the reader ponder well what this means.
Think of 4 party convention in a radical State like
Wisconsin—the State where Senator La Follette has
been dominating affairs—taking a stand against an
income tax law and think of the Democratic Party
taking the lead in such a move.
Ever since Wm. J. Bryan in 1896 gained a foothold
in the party the income tax has been a cardinal article
in the Democratic creed. A declaration in favor
of the income tax is contained in the platform adopted
by the National Democratic Convention two months
ago. Year in and year out Democratic orators
have been singing the praises of the income tax. Mr.
Bryan,Wm. R. Hearst, and others of lesser note, reenforced by the efforts of a sensational press, have been
dilating upon the advantages and beauties of such a
tax and been promising the millenium with its inauguration. Woodrow Wilson has been piping the
same tune and Mr. Roosevelt,who is now fighting outside of party ranks,has,been vociferating most strenuously in favor of the tax. President Taft has shown
that he is not unkindly disposed towards it. In
Congressthe proposition for-an Income-Tax Amendment
to the Federal Constitution passed both houses
almost unanimously, so confident were the politicians in both parties that an income tax would win
popular support. Since then State after State has
been ratifying the proposed Amendment, so that now
it needs ratification only by two or three more States
to make it a part of the U. S. Constitution. And yet
now that Wisconsin—where radical ideas have flourished as in no other State of the Union—has actually
put an income tax law upon its statute book, in advance of possible action by the Federal Government,
every one is found arrayed in opposition thereto. Are
we not right in saying that this is a most significant
event?
Let the reader not assume that the action of the
Democrats of Wisconsin was taken hastily or without
deliberation. On the contrary, the Democratic candidate for Governor in Wisconsin, Judge John C.
Karel, who got the nomination this week, made that
the issue of his campaign and won out. At
the Democratic primaries early in the month
he defeated his opponent, Adolph J. Schmitz, for the
Democratic nomination for Governor by a vote of
2 to 1. In Milwaukee County he carried every ward,
town, village and city, with the single exception of
the town of Granville, where Schmitz had 6 majority.
This result came, the Wisconsin papers tell us, at the
[VoL. Lxxxxv.
close of a campaign in which Judge Karel was bitterly
attacked for his position on the income tax. The Milwaukee "Sentinel" says Judge Karel, when asked to
become a candidate for Governor, did not hesitate
to urge a repeal of the statute, and he elected to stand
or fall on that issue. The "Evening Wisconsin" in
its news columns on Sept. 5 declared that "Judge
Karel's nomination was given, him because of his determined, unqualifying opposition to the present income tax 1 aw as enforced in Wisconsin. In this belief there exists no difference of opinion."
It was the same at the State Convention this week.
There was a minority opposed to the plank for repeal
of the law. They sought to temporize, but the news
accounts tell us that "those who at first stood out for
the retention of the plank in the State Convention
platform heard from their constituents and were
willing to concede that a plank repealing the law ought
to be adopted." The bitterness of feeling against the
law is indicated in a dispatch from Chippewa Falls to
the "Evening Wisconsin" of Sept. 14, saying that "the
corporations in this city were amazed when they received statements from the Wisconsin Tax Commission
assessing their income at the rate of six per cent.
* * * The operation of the law is arousing great indignation here. Some citizens are declaring that they
will leave the State before they will be handicapped."
This is the frame of mind in which the people of
Wisconsin find themselves after the law has been in
effect only a few months, and before any tax has actually been levied under it, the proceedings thus far
being simply the preliminary steps taken for enforcing
the provisions of the Act. The gist of the law has been
set out in these columns several times. It embodies
all the ideas for which the most prominent advocates
of the income tax have. always been contending; it
includes the progressive principle—that is, provides
for an ascending rate of tax, with the growth in
income—and assesses incomes from the lowest to the
highest.
The objections now urged against the law are such
as have been frequently enumerated. It is declared
that the law is inquisitorial and pries into the private
affairs of men. No income tax can ever be otherwise.
It is declared that it is not going to yield the amount of
revenue expected and that its chief usefulness appears
to be in providing places for the hangers-on of the party
in power. It is also contended that it will operate
unevenly and is driving people out of the State.
Finally we are told that it is becoming evident that
the tax will be burdensome upon all classes and that
in its operation it must confirm the theory that after
all it is the "ultimate consumer" who will pay the tax.
In the last analysis the hostility to the law is to be
explained on the ground that in its practical operation
it has proved an eye-opener. The average citizen of
Wisconsin has in the past been listening with approval
to the arguments in favor of an income tax because in
his innocence he imagined the matter was of no concern
to him personally. He supposed only the rich and
the wealthy'would have to pay it, and certainly only
those whose income was in excess of his own. Why
should he not be in favor of the tax under these circumstances? In actual operation he finds that the tax
hits everyone—the professional man, the wage earner,
and those in receipt of a moderate stipend as well as
those whose reward for their services is on a more
liberal scale. In other words, he perceives that the tax
is a tax upon himself. He feels that he has been deceived and consequently is turning against the law.
SEPT. 21 19121
THE CIIRONICLE
709
An effort is being made to cultivate the notion that it is said in favor of an income tax abroad,it has no place in
merely this particular income tax law that does not this country and, what is more, there is no need for it
suit; but the attempt is too transparent to succeed. here. The country is able to raise ample revenue in
The Wisconsin Democratic platform begins by saying, other ways for all the needs of the Government.
• "We favor a national income tax as proposed in the Should Congress impose an income tax under the
platform of the National Democratic Party adopted proposed Amendment to the Federal Constitution, it
at Baltimore," which, of course, means nothing save will be simply an invitation to reckless extravagance.
a desire not to embarrass Woodrow Wilson, and then It might begin with a tax of one per cent levied only
goes on to say: "We are opposed to the present State on incomes in excess of $5,000 but the limit of exempincome tax, forced upon the people of the State by the tion would ere long be reduced to $1,000 and the rate
Republican Party at the last session of the Legislature. would steadily rise.
Dissatisfaction with the Wisconsin law presents,
* * * We promise its immediate repeal. We pledge
ourselves to submit to the people of the State at the however, some other aspects, which should not be lost
time of holding the spring elections in April 1913 the sight of. It serves to discredit radical ideas and may
question whether or not it is their desire that a State easily be followed by a revulsion of sentiment against
income tax law be enacted." It is safe 'betting that if the whole radical program as promulgated by such
Wisconsin voters are given a chance to declare them- men as Bryan, Roosevelt, Hearst and Woodrow
selves the income tax principle will go down with the taw. Wilson. When put to the test, the income tax,instead
Senator La Follette appreciates that one of his pet of a benefit,is proving a burden;as all the other promises
notions is at stake and has determined to come to the of the ultra-radicals are of the same airy character,
rescue. Dispatches from Madison, 'Wisconsin, state faith in their whole program will disappear. A disposiI hat he will take the stump for the State Republican tion has been noticed all over the country in recent
ticket because of the attitude of the Democrats as weeks to turn away from the radical propaganda. Inexpressed in the platform declaring against the income deed,the continued recovery in general trade is founded
tax. We are told that La Follette is angry with the on the idea that there is to be no political upheaval,
Republican nominee, Mr. McGovern,(who has just se- notwithstanding the. Roosevelt crusade. If this diagcured a renomination) because of the aid which Mc- nosis should prove correct and the movement away
Govern extended to Roosevelt at the National Repub- from the extremist position should make progress,
lican Convention at Chicago, but will support the Re- Mr. Taft's re-election might easily become assured.
publican ticket nevertheless since he considers the Mr. Taft is far from being a conservative in the sense
menace of a Karel victory in the State election as the that the word is used in the political world, but on this
greatest danger of all. Mr. La Follette, however, will occasion he stands for the maintenance of the Confind the task no easy one. A wing of his own party is stitution against the attacks of Roosevelt and his
strongly opposed to the income tax law. In fact the followers, arid for the preservation of representative
Republican platform itself is more of a straddle on the government.
proposition than a straight declaration in its favor—
In our trade with the outside world new high records
which is further evidence going to show how the law
has grown in disfavor. The Republicans, in their for the period were again established in August, in
platform, contend that "the law and its administration both the inward and outward flow of merchandise. In
should be simplified to the end that the citizen may not tact, each month thus far of the current calendar year
be put to unnecessary trouble and expense," hut as- the imports have exceeded those of the correspondserts that"the law is right in principle and should be ing interval of 1911, and the same is true also of exgiven a fair trial." How this attitude is, viewed by ports, with the singlee xception of June, when the shipThe best sentiment of the State appears from an edi- ments of cotton and breadstuffs were unusually small.
torial article in the Milwaukee "Sentinel". The The salient feature of the latest official foreign trade
"Sentinel" is one of the staunchest Republican news- statement is the continued and important growth it
papers in the State and as the following excerpt will shows in our exports of manufactures, &c.—the comshow it is fearful that the Republicans will lose the modities upon which the country now practically de.State because the party in its platform has failed to take pends for any further expansion in our exports. With
the extension of our area under cotton and larger
a stand in opposition to the income tax law.
crops of the staple, greater quantities will inevitably
• "The Karel Democrats have had sense enough to seize go abroad, and an augmentation in the outflow of
on this issue of State income taxation. The Republicans
increasing
missed their chance by failing to put an anti-income mineral oils is to be expected; but with the
tax candidate against McGovern at the primaries. needs at home, foodstuffs, in the absence of efforts
The right kind of a man could have beaten McGovern to considerably add to the production, will become a
out on that issue as easily as Karel beat Schmitz—no secondary item in our foreign 'trade..
doubt at all about it.
The August exports this year were $167,385,095,
But now the prospect is(and as a Republican paper against only $144,185,093 in 1911 and $134,666,378
we admit it with the deepest regret) that Republican in 1910. Shipments of breadstuffs, although greater
folly on that issue will enable the Karel Democrats to
clean out the party in power at Madison, in spite of the than in July, fell below those of August 1911, and the
ramifying machine Mr. McGovern has built up by same is true of provisions and cotton. These losses
from last year were only in part offset by gains in
patronage and creation of new public jobs.
The easy victory of Karel over Schmitz on the in- mineral oils and cottonseed oil, the month's exports
come tax issue makes it plain that the stronger the of all the articles mentioned covering a value of only
Democrats draw that issue against Mr. McGovern the 451A million dollars, against 483
% millions a year ago
better it will be for their chances."
and 46 millions in 1910. On the other hand, of other
With the issue thus clearly defined, the result in commodities (manufactures, &c.) sent out in August
Wisconsin would seem to be a foregone conclusion, for 1912, the aggregate value was .122 million dollars, or
no man with his eyes wide open is* going to vote de- 263/ millions more than for the month of 1911 and
liberately for a tax upon himself. Whatever may be nearly 34 millions greater than two years ago. For
710
THE CHRONICLE
the eight months since Jan. 1 the 1912 figures,
of course, set a new record, having been $1,416,522431, as compared with $1,259,702,587 a year ago and
$1,054,053,115 in 1910. The articles that have contributed most largely to this year's increase are automobiles, iron and steel manufactures, leather manufactures and copper manufactures.
Imports of merchandise during August reached
$165,020,792, against $125,945,385 in 1911 and $138,358,307 in 1910, and the total for the eight months at
$1,188,233,756 records an increase of 181 millions over
the period a year ago and of 133 millions as contrasted
with 1910. While an increasing inflow is to be noted
in pretty much all of the various articles we import,
the augmentation thus far in the current year as compared with 1911 is especially marked in such staple
commodities as sugar, coffee, India rubber, vegetables,
tin, hides and skins and wool.
Owing to the large imports, the net result of our
foreign trade for August was a balance of exports of
only $2,364,303. For the eight months, however, the
balance on the same side of the account is $228,288,675. In both cases this is smaller than a year ago,
when the export balance for August was $18,239,708
and $251,957,046 for the eight months. In
August 1910 there were net imports of $3,691,929
and for the eight months of that year the imports
actually exceeded the exports by $1,044,781. The
record eight months' export balance was in 1908—
$391,369,960.
Gold production in the Transvaal for Aug. 1912 fell
a little below the total for July but largely exceeded
that for the month of 1911. The aggregate yield as
cabled last week was 764,737 fine ounces, bringing
the total for the period since Jan. 1 up to 6,073,982
fine ounces. These results compare with 713,407 fine
ounces for Aug. 1911 and 5,398,817 fine ounces for
the eight months, and 649,269 fine ounces and 4,947,488 fine ounces respectively in 1910. The current rate
of production maintained during the remainder of the
year would insure for the Transvaal for 1912 a yield
of nearly 9,150,000 fine ounces, and taking into account the increasing production of Rhodesia, West
Africa, &c., give for the whole of Africa a total of
approximately 101
% million fine ounces, or a virtual
doubling of the output of the mines of that country in
seven years.
The record of building operations in the -United
States for Aug. 1912 is seemingly an unfavorable one
when comparison is made with the result for the corresponding period of the previous year. As a matter
of fact, however, the decline indicated is explained
entirely by an unusual development in Aug. 1911.
Under a new ordinance that went into effect in Chicago
on Sept. 1 of that year the height of buildings to be
erected in that city is restricted to 200 feet whereas
under the old ordinance an altitude of 260 feet was
allowed. To take advantage, therefore, of the latter,
plans for very many buildings were filed in the closing
days of August, the permits issued in the five days
ended the 31st covering estimated expenditure of
almost 15 million dollars and swelling the month's total
to the extraordinary amount of $26,200,500. Much
of the work then initiated has remained dormant
since then and some of the projects may never be
carried to completion; but the effect was to abnormally inflate the country's reported operations for
that month. Contrast with 1910 is also considerably
[VoL. Lxxxxv.
disturbed by a special circumstance: at Duluth, in
the last mentioned year, the U. S. Steel Corporation
(in August) filed plans for a branch plant estimated
to involve the expenditure of some $10,000,000.
Eliminating from the comparison these two unusual
developments,there would remain for 1912an aggregate
of intended outlay fully 10 million dollars greater than
for 1911 and nearly 13 millions in excess of 1910.
The foregoing explanation is essential in preventing
the drawing of wrong conclusions as to the relAtive
activity in construction work this year as compared
with either August 1911 or August 1910. Taking the
August compilation as it stands, we find that the total
for 1912 for 136 leading cities is $85,956,515,or $7,510,479 (8%) less than for the month of 1911, but $4,443,502 (5.5%) greater than in 1910. For Greater
New York the result is much more favorable than a
year ago, the contrast being between $18,570,299 and
$13,886,012. Exclusive of Greater New York the
prospective outlay is $67,386,216 for 1912 against
$79,580,982 in 1911 and $66,718,820 in 1910, the most
satisfactory showing being in New England and at the
South.
For the eight months this year Greater New York's
operations, at $161,776,809, exhibit a gain of 18.3%
over last year and 8.7% over 1910. Outside of this
city the 1911 aggregate is exceeded by 2.3% and that
of 1910 by 8.7%, the respective totals having been
5103/i millions, 4983/i millions and 4693g millions.
For all cities combined the intended expenditure is
only a little less than 672 million dollars for 1912 as
against 635 1-3 millions last year and 618 millions in
1910.Analyzing the results by sections of the country,we
find that 22 New England municipalities show a collective gain of 10 million dollars over 1911, thirteen on
the Pacific an excess of 11 millions and 21 "Other
Western" one-half a million. The middle section
(New York excluded),30 cities in all, shows a loss of
2 millions, the Southern (24 cities) 231 millions and
the Middle West (25 cities) 63' millions, with the decrease at Chicago alone 15 millions, the reason for which
is stated above.
As regards Canadian building operations,there is
nothing new to be said. Activity continues unprecedented in most localities, a not unnatural sequence
of the efforts that are being put forth to develop the
various resources of the Dominion. For the month of
August returns are at hand from 48 cities and in the
aggregate they indicate projected expenditures for
building construction work of $18,633,790 for the
month this year, against $12,648,667 in 1911 and less
than 9 million dollars in 1910. The eight months'
total for the same 48 cities (25 in the East and 23 in
the West) reaches 131 1-3 million dollars, or 36 millions
more than in 1911 and 59 millions greater than for 1910.
After a considerable amount of uncertainty, which,
however,is one ofthe characteristics of financial or other
negotiations with Chfita, the net result appears to be
that an independent loan't of £10,000,000 has beeli
arranged and that a firk'payment of £500,000 ón
account, to bind the bargain, has been made. We
explained last week the genesis of this transaction and
showed • how it had originated in the mind of an
American promoter of ample assurance named Wendell
Jackson. This week's addition to the news—for the
agreement for the loan was signed on Aug. 30 by the
Chinese Minister in London—shows that Mr. Jackson.'
interested the London Stock Exchange firm of C.
Birch, Crisp & Co. in the enterprise and it was this
SEPT. 21 1912.]
THE CHRONICLE
711
firm that organized the syndicate that includes the commerce and navigation between the United States
Lloyds Bank and other large financial interests. Some and Russia, which has been in force since 1832, was
significance is attached to the participation of the abrogated by President Taft last December and a
Stock Exchange firm in question as it has at times been full year's notice of its formal termination given. It
interested in a large way in Russian enterprises. will be recalled that the President's action arose from
Some connection, therefore, is sought to be traced the Russian Government's refusal to honor American
in some circles between the new loan and the opposition passports in the hands of American citizens of Jewish
of Russia and Japan, of about two months ago, to the birth seeking to enter Russia. Early in December the
Six-Power loan, which opposition was,however,on the House of Representatives, with only two dissentient
surface at least, subsequently withdrawn. It is re- votes, adopted a resolution charging Russia with
ported by cable that .£500,000 in Chinese Treasury violoting its treaty obligations and giving notice of
bills, representing the first payment on account of the the intention of this Government to terminate the
loan, have been offered in the London market and treaty at the expiration of the year. Before the
have been accorded a favorable reception. Although Senate took formal action on the resolution,President
there has suddenly appeared in competition other Taft,in order not to unnecessarily create a feeling of
Chinese Treasury Bills which most probably represent resentment by Russia, caused the Russian Government
the loan to China made by a Belgian Syndicate early to be officially notified of our intention to bring the
in the year. Bankers in London connected with the treaty to a close, but did not present any statement
negotiation of the so-called Six-Power loan announce of reasons or make any imputations against the Russian
that the ministers of these Powers in Peking have Government's conduct in the passport matter. Thus
been instructed to express disapproval of the in- the way has remained opened for the friendly negotiadependent loan and also have declared that China has tions that have already begun.
no liberty, pending a definite closing of the negotiations
There has been another severe battle in Tripoli.
with the Six-Power syndicate, to make outside arrangements. If the Chinese Government does contract According to advices which come from Italian sources,
other loans, they urge, the lenders advancing the the most sanguinary engagements of the war were
money will do so at their own risk and without the fought on Tuesday near Derne, a town on the Meditersupport of the governments interested. How this can ranean coast 140 miles east of Bengazi. The Italians
be so definitely stated does not appear altogether clear. lost 61 killed and 113 wounded, while the Turks and
China informally re-approached the old syndicate Arabs left more than 800 dead on the field and more
during the present month (after the signing of the than 1,000 were wounded. Nevertheless, there is
independent loan contract) but the banking group encouragement in the news from abroad to believe
will, it is announced, not reopen negotiations unless that an agreement on peace terms has virtually been
reached.'
assured of China's sincerity.
Representatives of the independent syndicate are
On Oct. 15 of next year it is expected by Col.
quoted as scoffing at the suggestion that the British
Government will ask China to repudiate the con- Goethals,in charge of Panama Canal construction work,
tract made by the Chinese Minister at London under that navigation between the Atlantic and the Pacific
the authority of the Chinese Premier and the Minister oceans will be inaugurated by an American naval
of Finance. Before negotiating with China, according vessel. This is the tentative date that .has been set
to a statement made by C. Birch, Crisp & Co., that foi. the opening of the Canal,although the formal
firm made inquiries at the Foreign Office and were opening will take place on January 1 1915. The
told that the field was free and open and that the President's approval of the Canal-opening program is
Foreign Office would not attempt to interfere. The being awaited by Col. Goethals, who now believes that
firm suggested that the Foreign Office write a note a saving of $25,000,000 will be made in the cost of the
saying that for reasons of State the Office would prefer great waterway as compared with the $400,000,000
that no one outside of the Six-Power group attempt to estimated cost of construction. Such energy is being
make a loan; but the Foreign Office replied again that exerted by European and even Asiatic government
the field was open, that it would not put anything into interests to get ready for the opening of the waterway
writing, but that the British Government preferred and develop business relations with the Latin-American
to see the loan made under the conditions and through republics that the United States must hurry or be
willing to appear at the tail end of the international
the financiers of the Six-Power group.
In diplomatic circles at Peking it is believed, ac- race for Spanish-American trade, according to John
cording to press dispatches, that the new Chinese Barrett,Director-General of the Pan-American Union,
loan is principally an effort to force the Hong Kong and who has recently been studying conditions abroad.
Shanghai Bank to allow free English participation in Mr. Barrett summarizes his observation in his official
the pending Six-Power loan. The agreement, signed report as follows:
in London Aug.30,gave China the option, it is reported,
1. Every important port of Great Britain, France, Gerof making a 5% loan at 89, a 5% loan at 92 or a many, Holland, Belgium, Scandinavia, Spain, Italy and
6% loan at 95, with 1%,additional for commission. Austria is being improved to the highest degree of efficiency
The National Assembly at Poking on Tuesday adopted for oversea commerce.
2. Every European shipbuilding yard of recognized
a resolution pledging that bo;cly to support the Governstanding is busy to its capacity constructing ocean-going
any
of
conclusion
loan
reasonakle
scheme. merchant vessels. Old-established steamship lines are
ment in the
It is gratifying to learn that the Russian Government has agreed to the negotiation of a new treaty
with our Government to supersede that which will be
terminated on January 1 next. The formal diplomatic exchanges, however, will not be begun until
Secretary Knox returns from Japan. The treaty of
adding up-to-date vessels to their fleets, and new companies
are being formed and ordering ships.
3. European governments are instructing their diplomatic
and consular agents to study and report upon every phase
of trade opportunity expected to result from the Canal.
Their chambers of commerce and their commercial organizations are co-operating along the same lines, and the business schools are educating trained men for the field. Gov-
11.2
THE CHRONICLE
ernrnent officials and representative men .in private life are
showing particular hospitality and courtesies to the visiting
representative men of Latin America and all the other
countries whose trade they want. Their banking and investment houses are extending their foreign facilities. Their
private business companies of already large established trade
and their new companies are sending agents and scouts
to Latin America and all parts of the world affected by the
Canal to investigate trade possibilities.
4. In Japan three steamship companies are building
vessels for the Canal. Japanese banks are considering the
opening of branches in Latin America. A score of Japanese
manufacturing, 'exporting And importing houses have
numerous agents in Central and South America. One
Chinese-owned steamship companY is planning to operate
a line from Shanghai and Hong Kong to Central and South
America. Australia's commercial organizations are sending
men to South Americd to develop trade, while Australia
and New Zealand are planning to establish a canal steamship
line of their own. A new line of freight vessels is to run
from Calcutta or Bombay to South America. Canada will
run two new direct lines, respectively, from Vancouver and
Montreal to the corresponding coasts of Latin America.
5. The west or Pacific coast of South America, reaching
5,000 miles south from Panama, is showing great preliminary
activity. Chili, Peru and Bolivia are spending $50,000,000
in opening up their interiors with railways. Chili is building
at Valparaiso a new artificial harbor to cost $15,000,000.
Guayaquil, the principal port of Ecuador, and one of the
best harbors of the Pacific Ocean, is to be made sanitary at
a large expense. Callao, the chief port of Peru, is being improved. On the east coast the activity is even greater, for
both Argentina And Uruguay will spend nearly $30,000,000
in port improvements at Buenos Aires and Montevideo,
respectively. rtrazil is putting in first-class condition every
port along her 3,000 miles of coast line from Rio Grande do
Sul, in the South, to Para, at the mouth of the Amazon.
One hundred million dollars is being expended in constructing
new railways into the interior of Brazil. Venezuela and
Colombia, Central America, Mexico, Cuba and the other
West Indian countries are awakening also to the significance
and possibilities of the Canal, and are sending agents and
Appointing commissions to study the situation as it affects
them.
In a note presented to the Nicaraguan Government
by United States Minister Witzel, our Government
seems to have definitely outlined its policy that
promises to apply as a warning, not alone to
Nicaragua, but to other countries not excluding
Mexico. This note, which was issued on telegraphic
instructions from Acting Secretary of State Huntington Wilson, has been placed in the hands of the
rebel leaders in the recent Nicaraguan revolt and published in every newspaper in Nicaragua. It has also
been telegraphed to every United States legation in
Central America and through them communicated to
the various countries. The note asserts the purpose
of the United States to guard the legations, protect
American life and property and prevent a recurrence of
the corrupt and barbarous order of things which prevailed under the tyranny of the former dictator
President Zelaya. It follows, in part:
You may textually communicate to the Government to
which you are accredited, and unofficially to the rebel
leaders, as well as make public, the following as an authorized declaration of the policy of the United States in the
present disturbances:
"The policy of the Government of the United States in
thetpresent Nicaraguan disturbances is to take the necessary
measures for an adequate legation guard at Managua, to
keep:open communication and to protect American life and
property. . . .
"When the American Minister called upon the Government of Nicaragua to protect American life and property,
the Minister for Foreign Affairs replied that the Government
troops must be used to put down the revolution, adding:
'In consequence, my Government desires that the Government of the 'United States guaranty with its forces security
for the property' of American citizens in Nicaragua and that
Lxxxxv.
they extend this protection to all the inhabitants of the
republic.'
"In this situation the policy of the Government of the
United States will be to protect the life and property of its
citizens in the manner indicated, and meanwhile to contribute its influence in all appropriate ways to the restoration
of lawful and orderly government,in order that Nicaragua
may resume its program of reforms unhampered by the
vicious elements who would restore the methods of Zelaya.
"The revolt of General Mena in flagrant violation of his
solemn promises to his own Government and to the American
Minister and of the Dawson agreement, by which he was
solemnly bound, and his attempt to overturn the Government of his country for purely selfish puritoses, and without
even the pretence of contending for a principle; make the
present rebellion in origin the most inexcusable in the annals
of Central America. The nature and methods of the present
disturbances, indeed, place them in the category of anarchy,
rather. than ordinary revolution." •
The London market has been cothpelled to supply
an active foreign demand for gold,including £150,000
for New York account, which was • purchased at the
weekly offering of South African bullion on Monday,
and an additional sum of £70,000, which was announced yesterday (Friday). Part of the first engagement was shipped to New York from Southhampton on the German steamer Kaiser Wilhelm der
Grosse and should arrive on Tuesday; and the remainder leaves on the Cunarder Mauretania to-day
(Saturday) and is due to arrive on Friday next. Therefore only the £54,000 which is the amount on the
German boat can participate in next week's Clearing
House statement. The London market, to quote
the City article of the London "Times" of Thursday,
"was somewhat puzzled by the 'announcement made
in New York that £150,000 gold had been engaged in
London for export to the United State's. It was
thought at first that the gold must be obtained from
two or three clearing banks which are understood to
keep stocks of the metal, because nothing was known
on Monday in the bullion market of any sales of South
African bars to purchasers for American account. It
appears, however, that out of a large portion of these
bars believed and announced to be secured for 'the
Continent' the above sum was really for the other side
of the Atlantic. It is difficult to understand what is
gained by attempts to conceal operations of this kind,
which from their nature cannot be kept secret more
than a few hours,"
It is quite evident, therefore, that New York was
well in advance of London in its information regarding
its initial importation of gold for the season. The
competitors of Messrs. Goldman, Sachs & Co., the
importers, are emphatic in their suggestion that the
transaction was a special one and that at the ruling
rates for sterling exchange it could not have been
completed at a profit. However, it seems to have
become quite customary for such criticism to be
leveled at initial importations or exportations, and
we have no doubt that the bankers mentioned are quite
satisfied with the results. In fact no attempt is made
to deny that it constituted a so-called special transaction and the facts are that the gold is in the nature of
part payment for a sale of $4,000,000 of New York
City revenue bonds which mature in January and
were sold by the City on a 43270 basis. It is understood that the bankers in question placed a large
bock of these bonds abroad and that the importation
of gold referred to represented part of the payment
for the securities, the remainder of the purchase price
being financed in the usual course of exchange transactions. Within the last six weeks Comptroller Predder-
SEPT. 21 1912]
THE CHRONICLE
gast has sold $25,000,000 in New York City revenue
bonds that will on the average have cost the City a
shade less than 4%. There is of course no 4% money
available on this side at the present time. New York's
short-term bonds have proven particularly attractive
abroad. The engagement of gold just referred to is
the first that has been announced since August 8 1910,
when a movement was culminated that brought in
altogether $13,225,000 from London. Incidentally
it is of interest that Goldman, Sachs & Co., who have
inaugurated this season's movement, made the concluding engagement in the 1910 movement.
Cable advices from London express the expectation
in the bullion market there that New York will be an
active . bidder in next Monday's weekly Offering of
Cape gold. Last week's offering amounted to £820,000,
of which £150,000 was taken by 'India, leaving
£670,000 for other countries, as it is not believed that
the Bank purchased any of the offering. As already
intimated,considerable mystery seems to have clothed
th6 entire transaction. Egypt, Turkey, Holland and
Java purchased gold at the Bank of England during
the week and London cablegrams suggest that the
Bank is inclined to resist shipments of the precious
metal to New York until the German demand to meet
the exigencies of closing quarter-year had been
satisfied. It was reported that while London was prepared to discount American bills freely in view of the
large export movement of American agricultural
products that is in sight, any determined demand from
America for actual transfer of gold would quickly cause
an advance to 5% in the Bank of England's minimum
discount rate, as such a demand would be coincident
with demands from Egypt, Germany, Turkey and
Brazil.
In Lombard Street bank discounts still continue
much firmer than day-to-day money. For sixty
day bankers' acceptances quotations at the close
4@3%%, while long bills
yesterday were cabled at 33
were 334%. These are the spot quotations. A week
ago the quotation for short bills was 33% and 33%% for
long. Those to arrive closed fractionally firmer for
4% for sixty days and 4@4A% for
the week at 33
ninety days.
There is also talk, according to Paris cables, of an
increase in the official discount rate of the Bank of
basis that is
France in the near future from the
now current. Such an advance, however, does not
seem to be generally credited in New York banking
circles that are identified especially with the French
centre. But a probable basis for the report
is the fact that the open market rate in Paris has been
advanced to the official basis, which is an unusual occurrence in the French market. Paris, as we noted
last week, has been experiencing a worldwide demand
for funds and the banks at that centre are always inclined to be cautious. At Berlin a decline in the open
4%,for spot bills during the
market rate of 34%,to 43
week suggests that, as has heretofore proven the case
under such circumstances, preparations have been
mlde well in advance to meet the large payments due
at the end of the quarter year. Bills to arrive, however, are quoted at 432@4%%. German financial
interests, we learn, have been bidding on a basis of
6% for thirty day loans in New York, but it cannot
be discovered that these offers had led to definite
business,since American bankers at the moment seem
to have all they can do to look after their customers
on this side of the water. The private discount rate in
4@4% notwithAmsterdam is now quoted at 43
713
standing that the Bank rate still remains at 4%.
l% higher for the week and closes at
Brussels is y
4h%. The official Bank rates at the leading foreign
centres are: London 4%; Paris 3%; Berlin 432%;
Brussels 4%; Amsterdam 4%; Bombay 3%, and
Bengal 3%.
The Bank of England on Thursday reported a loss
of £536,666 in its gold and bullion holdings and now
holds £41,632,435, which compares with £43,078,749
one year ago and £39,091,224 in the corresponding
week of 1910. The total reserve was reduced £125,000,
to £31,534,000, as against £32,572,834 last year and
£29,905,229 in 1910. The proportion of reserve to
liabilities is now 50.64%, which compares with 50.34%
last week and 56.70% at this date last year. The loan
account of the Bank continues well ahead of recent
years,although it was reduced £491,000during the week,
to £35,597,000, comparing with £29,080,887 in 1911
and £29,111,610 the year preceding. Public deposits
increased £371,000 but other deposits decreased
£1,000,000, while note circulation showed a contraction of £411,000. Our special correspondent furnishes
the following details of the gold movement into and
out of the Bank for the Bank week: Imports, £73,000
(of which £7,000 from Australia and £66,000 bought
in the open market); exports, £1,245,000 (of which
£500,000 to Egypt, £300,000 to Turkey and £70,000.
to miscellaneous destinations, and £375,000 German
coin sold), and receipts of £635,000 net from the
interior of Great Britain.
The weekly return of the Bank of France shows that
the Bank is firmly holding its gold despite the urgency
of the worldwide demand. The gold coin and bullion
holdings, instead of decreasing, show a net gain of
71,000 francs, bringing the total up to 3,279,896,000
francs, which compares with 3,122,970,000 francs
last year. Paris cable advices state that gold is
getting perceptibly scarcer in circulation and is being
quoted at about 30 francs per 1,000 francs premium.
The Bank continues to pay out silver very freely,
this week's statement indicating a further loss in this
item' of 3,675,000 .francs. This reduces the total
holdings to 769,150,000 francs, which compares with
823,325,000 francs at this date one year ago and
848,025,000 francs in 1910. In fact there has been
a gradual decrease in the Bank's silver holdings since
1906, when the total amounted to 1,047,461,634francs.
Note circulation this week registered an expansion of
9,950,000 frams, but is still 71,500,000 francs below
last year's statement. General deposits decreased
4,625,000 francs compared with a week ago, discounts
increased 49,300,000 francs and treasury deposits increased 20,600,000 francs, while advances were curtailed 1,250,000 francs.
The Imperial Bank of Germany,whose weekly statement was published on Monday, showed a distinct
strengthening in its position as a preparation for the
strain that has been so generally predicted for the
close of the September quarter. The* Bank reports a
further increase of 13,574,000 marks in gold and of
22,778,000 marks in total cash. Meanwhile deposits
increased 121,722,000 marks, though discounts were
also increased 69,598,000 marks. Direct loans, however, were reduced 6,802,000 marks and notes in circulation showed a contraction of 26,721,000 marks.
The Bank's total stock of gold and silver is now
1,302,480,000 marks, which makes a favorable comparison with 1,145,013,000 marks in 1911 and 1,040,160,000 marks in 1910. Totalloans'and:discounts are
714
THE CIIRONICLE
making a much better showing than has recently been
the case, amounting to 1,264,540,000 marks, against
1,220,538,000 marks in 1911 and 1,095,440,000 marks
in 1910. The outstanding circulation' of the Imperial
Bank is 1,719,606,000 marks, which compares with
1,644,131,000 marks one year ago and 1,514,180,000
marks two years ago.
In local money circles there has been at the close
of the week, a slight relaxation evident. Call rates
on Monday reached a maximum of 57% for Stock
Exchange loans and renewals throughout the week
were almost entirely on a 5% basis until yesterday,
when the ruling basis was 4%%; while loans for fixed
maturities are also fractionally lower. • As was to have
been expected, the bank statement last Saturday indicated an active curtailment of loans. The decrease in
this item, including all banks and trust companies in
the Clearing bus e, amounted to $27,435,000. However, a decrease in dep osits cut down the reserve requirements $8,076,650, so that notwithstanding the
loss of $7,208,000 in specie and legal tenders, the actual
cash surplus above requirements indicated an increase
of $868,650, making the total amount of free cash
$3,619,750, which compares with $24,322,300 one year
ago and a surplus held by the banks alone in 1910
of $21,369,200. This is certainly a very narrow
margin for the financial institutions of New York to
hold at this season of the year. There has, however,
been a perceptibly calmer feeling in banking circles
during the week, as a belief prevails that, should conditions warrant it, the Treasury Department will afford
substantial relief by increasing the Government's
deposits in the national banks throughout the country.
Representatives of the Treasury Department have
this week interviewed New York banks as to the
necessity of the Government stepping in, but we
understand they have received slight encouragement
for prompt action. The position of New York bank
officers seems to be that the money situation, while
undoubtedly reflecting an active demand, is in a very
healthy condition. Banking supplies are not tied
up in speculative movements and the demand is purely
of the wholesome and routine character that comes
from improvement in our mercantile and manufacturing activities, which are coincidental with an active
demand for banking facilities from the agricultural
sections of the country occasioned by the necessity
of gathering and marketing one of the largest crops—
considering production as a whole—that this country
has ever enjoyed. The legal rate of interest has not
been reached even for demand loans, while time money
is available for legitimate purposes at about 531%.
This is a situation, bank officers believe, that does
not in any way indicate distress, and merely marks a
period of prosperity in banking circles that is legitimate
and compensates for the many protracted periods of
unprofitable business that the financial institutions of
the country are called upon to face. Of course the
question of self interest on the part of New York banking institutions is not entirely absent in such reasoning,
for it is recognized that if the Treasury Department
decides to release funds, the distribution will be more or
less general through the banks of the agricultural districts, and the result would naturally be a reduction
of interest rates throughout the country, in which New
York would participate. But on the other hand they
would not receive a sufficient volume of Government
• funds to compensate for the lower interest rate that
• would probably ensue on funds already employed. A
[VOL.. Lxxxxv.
part of the $1,100,000 in gold which was engaged in
London on Monday for shipment to New York will
undoubtedly appear in next week's bank statement and
the remainder the week following, and as it is expected in foreign banking circles here that imports of
the precious metal will soon become quite general, it
seems fair to assume that continued relief from this
source may be anticipated. Furthermore, the banks
are in a position to take advantage of the .emergency
currency act of 1908, which will permit them to increase their circulation when occasion arises;but there
is little expectation that such action will be necessary.
There is very little market at the moment for mercantile paper, but this is not causing much inconvenience as merchants and manufacturers,anticipating
the present strain in the money situation, as a rule
seem to have made their preparations well in advance.
It is understood that some of the note brokers who
themselves purchase the paper of their customers and
endorse it to re-sell as double-name paper have found
some difficulty in disposing of the full amount of their
purchases and have appeared as borrowers for short
terms at some of the local banks,depositing the paper
in question as collateral. Domestic exchange rates
have not ruled so strongly against New York at the
interior this week and New York exchange at Montreal
has ruled about par, suggesting that both the interior
and Canadian banks have been more inclined to permit
their funds to remain in this center at the remunerative
rates at which they can be employed.
Call money during the week has ranged between
47 and 57%,with,as already noted, 5% the renewal
rate during most of the week. On Monday the highest
figure was 57% with 47% the lowest and 5% the
renewal rate; Tuesday's and Wednesday's highest was
531%,lowest 47% and renewal rate 5%;on Thursday
the maximum figure was 5% with 47% still the
lowest and 5% the ruling rate; Friday's extremes were
5% and 47%,with 49.% again the rate for renewal
of Stock Exchange loans. Time money shows a
fractional decline from the quotations of a week ago,
closing rates being 51
/
4@57% for sixty days, 57%
for four months, 53.1%
@,5%%
for ninety days, 57
for five months and 5@5Y2% for six months and
longer maturities. Mercantile paper commands 57%
for choice six months' names and 6% for bills not
usually classed ,as choice. Sixty and ninety days
endorsed bills receivable are nominally 57% minimum, but the offerings continue extremely light.
Sterling exchange has made further progress toward
the gold-import point this week and the expectation
in foreign banking circles here is that there will be a
considerable inward movement of the precious metal
in the near future. An engagement of $750,000 in
bullion was arranged on Monday last for shipment
from London to New York and this was increased
yesterday to $1,100,000. This, however, was more
or less of a special transaction and was, as we have
explained elsewhere, connected with the placing
of a considerable amount of New York City revenue
bonds abroad. The metal was a part of the regular
weekly offering of South African bars, and it is not
considered improbable that New York will again be
represented among the bidders at next week's offerings of Cape gold, especially as, if we are to believe
usually well informed London correspondents, the
Bank of England is inclined to resist sales of gold to
New York until the Continental situation has been
cleared by the full preparations by Berlin for the strain
that is expected at that centre at the close of the current quarter-year. It is in fact intimated that any
pressure of New York at the moment at the Bank of
England for actual gold would mean an advance in the
Bank's discount rate to 5%. Therefore, it seems fair
to assume that if New York bankers are desirous of
obtaining supplies in the British center they must seek
the metal outside the jurisdiction of the Bank. American finance bills are being purchased with entire freedom in London and are subject to no discrimination
whatever,and day-to-day funds there are available at
%@2%. In fact it is only in the discount market
13
that the indication of firmness obtrudes. The French
exchanges are somewhat irregular, the sterling demand rate in Paris as quoted by cable last evening
being 25.28X francs, which is a decline of X centime
for the week. Demand sterling in Berlin was X
pfennig higher for the week at 20.453/ marks.
Compared with Friday of last week, sterling exchange on Saturday advanced very sharply, a re• covery of some 30 points from the previous close being
noted; this was mainly due to expectations of a favorable bank statement here; the range was 4 8580@48585
for demand, 4 8630@4 8635 for cable transfers and
4 8255@4 8265 for sixty days. Sterling rates eased
off again on Monday,on a resumption of the firmness
in call money, though before the close there was a
slight rally on covering of shorts; demand was quoted
at 4 8570@4 8580, cable transfers at 4 8620@4 8630
and sixty days at 4 8240@4 8250. On Tuesday, after
opening firm, weakness again set in and demand declined to 4 8565@4 8575 and cable transfers to 4 8615@,
4 8625; sixty days, however, advanced to 4 8250@
4 8260. There was a further decline on Wednesday,
when demand fell to 4 8555 and cable transfers to 4 86;
later the undertone became firmer and closed at
4 8560@4 8565 for demand, 4 8605@4 8610 for cable
transfers and 4 8230@4 8240 for sixty days. The continued high rates for money here,together with bearish
speculative operations, brought about another break
in sterling on Thursday and demand declined to
4 8545@4 8555, cable transfers to 4 8595@4 8605 and
sixty days to 4 8220@,4 8230. On Friday there was
an exceedingly dull market with unimportant fluctuations in rates. Closing quotations were 4 8220@4 8230
for sixty days, 4 8545@4 8555 for demand and
4 8590 ®4 86 for cable transfers. Commercial on
banks closed at 4 80%@4 82 and documents for payment 4 815
/@,4 82. Cotton for payment ranged
from 4 813/ to 4 819; grain for payment 4 82X
to 482.
The New York Clearing-House banks, in their
operations with interior banking institutions, have
gained $4,668,000 net in cash as a result of the currency movements for the week ending Sept. 20.
Their receipts from the interior have aggregated
$11,350,000, while the shipments;have reached $6,682,000. Adding the Sub-,Treasury operations,. which
.occasioned a loss of $5,800,000, the combined result
the flow of money intdnand out of the New.York
'banks for the week appears to have been a loss of
-$1432,000, as follows: ,
Week ending Sept. 20 1912.
Banks' interior movement
Sub-Treasury operations
Total
Into
flanks.
S11,350,006
20,100,00(
S31,450,00(
Out Of
Banks.
Net Change in
Bank Holdings.
--86,682,000 Gain S4,668,000
25,900,000 Loss 5,800,000
----$32,582,000 Loss $1,132,000
The following table indicates the amount of bullion
in the principal European banks.
715
THE CHRONICLE
SEPT. 21 1912.1
Sept. 211911.
Sept. 19 1912.
Banks of
Gold.
England_ _
France _ Germany _
Russia a_.
Aus.-Huni.
Spain _
Italy d__.
Nethl and:
Nat.Beig.,
Sweden _
Switzerl'd
Norway _.
.X
41,632,435
131,195,521
46,253,656
156,043,00(
51,786,00(
17,123,00(
42,440,00(
12,194,000
7,775,333
5,414,000
7,031,000
2,270,001
Silver.
Total.
Gold.
X
41,632,43: 43,078,740
30,706,366 161,961,88( 124,919,440
17,000,000 63,253,65( 41,617,801
7,819,000 163,862,00( 148,557,000
11,272,000 63,058,00( 55,664,000
29,940,00( 47,063,00( 16,638,00(
3,583,000 46,023,00( 40,150,000
683,90( 12,877,00( 11,853,000
3,887,667 11,663,00( 7,305,333
5,414,00( 4,741.000
7,031,06( 6,588,000
2,270,00( 2,237,000
Silver.
Total.
43,078,749
32,932,8C0 157,852,240
14,812,600 56,430,400
7,056,000 155,613,000
12,124,000 67,788,000
30,879,000 47,517,000
3.482,000 43,632,000
1,527,500 13,380,500
3,652,667 10,958,000
4,741,000
.6,588,000
2,237,000
Total week 521,157,911 104,951,927 526,109,86! 503,349,322 106,466,567 509,815,889
Prey. week 320,755,584 104,963,187 535,718,771 303,277,4K 107,121,461 310,398,951
a The total of gold in the Bank of Russia includes the balance held abroad—
that is, the amount held for Russian account in other Continental banks. The
proportion so held, and consequently duplicated in the above sta'ement, is abcut
one-seventh of the total this year, against about one-eighth a year ago.
yThe Austro-Hungarian Bank statement is now issued in Kronen and 11(41er
instead of Gulden and Kreutzen. The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 80 cents. As the
Kronen has really no greater value than 20 cents, our cable correspondent in
London, in order to reduce Kronen to Pounds, has altered the basis of conversion
by dividing the amount of Kronen by 24 instead of 20.
d The division between gold and silver given in our table of coin and bullion In
the Banks of Italy and Belgium is made from the best estimates we are able to
obtain; it is not claimed to be accurate, as the banks make no distincticn in their
weekly returns, merely reporting the total gold and silver, but we belie\ e inc
division we make is a close approximation.
THE BANKS AND THE POSTAL SAVINGS.
In all the recent discussion of the proceedings of the
present Congress, one subject has been much neglected. The Postal Savings Bank law, enacted
June 25 1910, has now been in operation considerably
over two years. But information has been meagreas to its actual workings and,in particular, there has
been little general knowledge as to what further step,.
if any, must be looked for in the next development
of the undertaking. In a general way, it was
known that the scope of the postal savings banks
was being slowly expanded, but it was also known
that nothing of very great financial importance had
been accomplished. There was a vague general impression that a design for extending the system much
further existed at Washington. But as to the particulars nothing seemed to be known. For this
reason, the address of Mr. Theodore L. Weed, Director of the Postal Savings System, to the Savings Bank
Section of the Bankers' Convention at Detroit last
weel was a matter of considerable interest. He was
talking to experts, and he outlined his own ideas with
a precision such as would be expected before such an
audience.
First, as to what has been done. About 13,000
offices, Mr. Weed explained, have been established
as postal savings branches, and additional offices
are to be selected at the rate of 1,000 per month. In
a little less. than half of these depositories, receipts
of the office are being deposited, under the law, in
local banks; in the remaining offices, which are
mostly located in places where no banks were available for the purpose, receipts have thus far been
deposited with the receiving institutions for the other
postal branches. At the opening of this present month
the amount of $23,200,000 stood to the credit of
depositors, whose individual number was 270,000,
making an average of about $85 for each account.
In addition to the above depository sum, $1,314444
had been converted by depositors, under the law„
United States postal savings bonds.
So much for what has actually been accomplished.
Mr Weed next proceeded to outline his own Was.
In general, his position was that the existing restriction on the deposits to be received from any one depositor was too rigid. As the law now stands, the
amount of such deposits by one person is limited to
$100 a month and the total balance receivable from
any one depositor must not exceed $500. Mr. Weed
had this to say regarding these restrictions: .
716
THE CHRONICLE
. "I believe that the next step taken in the development of the postal savings system in the United States
should be the amendment of the present la-, so as to
do away with the limitation on deposits, with the proviso that no interest shall Le paid on any sum greater
than $1,000. The proviso would remove all incentive
for the transfer of accounts now deposited in banks,
and would at the •same time enable the system to
receive large sums of money now hoarded by persons
who will not avail themselves of the ordinary banking
facilities, and to whom the question of interest is
an unimportant consideration. If the law is modified
in this manner I am convinced that when the system
is fully established, many millions of dollars now in
hiding will he added to the circulating medium of
the country and become useful in the channels of
trade.
"Instances of the inconvenience of patrons and loss
to the postal savings system and to the banks from
this unfortunate restriction might be multiplied indefinitely. The exact amount of deposits refused
has not been recorded, but it is certain that the total
amount aggregates millions. At Philadelphia, in the
space of four months, during which a partial rec3rd
was kept by the postmaster, $25,000 was refused.
Such occurrences are reported almost daily from every
part of the United States, most frequently from rural
and milling districts and from city stations located
in foreign settlements,"
[VoL. Lxxxxv.
deposit banks and savings banks. The hoarding of
money throughout the .country during the panic of
1P07 was estimated by Secretary Cortelyou at no
less a sum than $296,000,000. Now Mr. Weed believes that this would help to relieve the panic. He
explains:
"In such cases, it is ieasonable to assume that frightened owners of savings and other accounts will withdraw their money from banks and deposit it with the
postal savings system, by which it will be at once redeposited in the banks and made available for their
use."
We do not feel so sure of this. Let it be observed,
first, that the paragraph from the law (already cited)
restricts in the ratio of capital and surplus the amount
of postal savings deposits to be re-deposited in any one
banking institution. Let it also be remembered that
such banks are required to put up qualified securities against such re-deposits—something which might
not be by any means a simple achievement under the
stress of panic. Furthermore, it should be observed
that the Eastern savings banks, in which, under the
present law, the funds of the postal savings institutions could not be re-deposited, are usually, in a time
of panic, the focus for the run of depositors. Not
only would it be impossible to apply Mr. Weed's plan
It should be obvious to all people in the financial for re-deposit of cash in panic times with such
'Community, as it certainly was to the audience at institutions, but they are precisely the institutions
Detroit, that certain questions of high interest will whose depositors would be peculiarly incited to draw
arise in relation to such a plan of enlarging indefi- out their money for the purpose of re-depositing it
nitely the scope of such deposits. In the first place, with the postal savings.
In other words, while Mr. Weed's proposed plan
it will necessarily be asked whether such deposits,
greatly increased, as Mr. Weed expects, by the prac- would almost certainly make the Eastern savings
we
tical removal of restrictions, could be re-deposited in bank situation worse, it would contain, so far as
done.
damage
the
correcting
no
for
see,
machinery
can
banks by the postal savings institutions at a profit.
his view of
It is manifestly through such re-deposits that the And, after all, is Mr. Weed quite right in
is?
actually
panic
during
money
of
what
the
hoarding
the
to
pays
it
CTovernment gets the interest which
sums
huge
the
of
bulk
the
that
No
one
supposes
this
which
on
deposits
postal depositors. The
in private safes
interest is paid are, according to law, to be "de- of cash which were hidden away
mere
represented
of
1907
posited in banks located in each city, town, village and vaults in the crisis
the
On
depositors.
bank
savings
and other locality [substantially in proportion to the withdrawals by
was
withdrawals
such
of
part
greater
the
recontrary,
to
capital and surplus of each such bank] willing
depositors in the deposit
ceive such deposits under the terms of this Act and currency taken out by large
feeling being
money—their
roll
payas
use
banks
for
the
but
thereof;
authority
the regulations made by
with panics,
experience
previous
of
light
the
in
that,
exceed
not
shall
time
one
amount deposited at any
payregular
for
the amount of paid-in capital and one-half the sur- they might be left without facilities
to
compelled
were
banks
plus of such bank." The word "bank" is held to day expenditure when the
depositors.
their
to
cash
of
payment
include savings banks and trust companies doing a shut down on free
Our own conclusion,- therefore, would be that the
banking business.
somewhat hasty in its
To secure such re-deposits, the banks receiving postal savings directorate is
arise from an excould
danger
no
that
assumption
bonds
public
such
the funds are required to deposit
would not only operate
or other securities as the Postal Savings Board of pedient of the sort and that it
actually relieve the
Trustees may prescribe and approve. At present safely in a panic time, but would
these pledged securities are accepted at 75% of market panic.
The problem, it is necessary to point out, is not at
value. Now the question at once arises whether,
all
the same as in countries where no system of savunder the proposed great enlargement in the scope.
banks under other than government auspices
ings
facilities
and amount of the postal Savings deposits,
England itself would be confronted by much
exists.
will
neighborhood
the
for re-deposit in the banks of
problems in the case of indefinite enlargeless
serious
of
the
counparts
all
in
available
be anywhere nearly
regulations. The argument
try. To re-deposit on such terms as would secure ment in its postal savings
system in this country
bank
savings
the actual interest yield of 23/2% on such a sum as for the postal
its use in providing
for
been
primarily
has
$23,000,000 is one thing; but multiply that amount in indeed,
which were
communities
small
facilities
such
with
proportion to the deposits expected under removal
auspices.
private
under
banks
with
savings
equipped
a
possible
that
easily
of existing restrictions, and it is
puruseful
a
fills
doubtless
it
communities
those
In
created.
very different situation will be
for
said
its
be
can
There is another question, even more serious. pose. Whether the same thing
the
of
East
communities
. What would be the natural operation of these postal application in the settled
question, and a plan for
savings institutions at a time of serious financial and West is a very different
even in the older
indefinitely,
its
scope
enlarging
panics? Such occasions have as their foremost chargrave question.
to
open
is
of
the
East,
communities
both
on
acteristic a run by depositors in general
SEPT. 21 91 2.]
THE CHRONICLE
INVESTMENTS AND THE PANAMA CANAL.
Owners of stocks and bonds of the great railway
systems of the United States have been uncertain
as to the effect upon their securities which will result
from the opening of the Panama Canal. Not only
must a readjustment of rates follow but a natural result
will be the readjustment of routes which traffic will
take_ from points upon one coast to those upon the
other. Expert traffic men of the railroads when
asked about the effect which the Canal will have upon
rates and earnings of the railroads answer that they
have no definite idea. The entire fabric of railroad
rates is such a delicate texture, so easily affected by
even remote influences, that no man can positively
assert what may follow the opening of the wonderful
new highway of commerce. However, so far as may
reasonably be presumed, owners of railroad securities
will have no need for worry. One influence is likely
to so modify or nullify an opposing one that the
ultimate effect may not be adverse to the interests of
sto.ckholders and bondholders of the established rail
lines.
Construction of the Panama Railroad and later the
building of the railroad across the Isthmus of Tehuantepec wrought an important change, as they afforded an
innovation of a combined water and rail route. Upon
completion of the first Pacific railroad in 1869 transcontinental shippers obtained a choice of three routes
for traffic, an all-rail route across the continent, an
all-water route around South America and a water
and rail route via the isthmuses. This was followed
by the creation of the Sunset-Gulf route, by which
ships operating between New York and the ports of
Galveston and New Orleans, in conjunction with the
Southern Pacific Railroad,afforded still another water
and rail route for transcontinental traffic. Trade has
long been accustomed to these various routes and
rates have become adjusted to the competition arising
from the all-rail route, the all-water route and the
combined rail and water routes.
The shortening of the all-water route by the opening
of the Panama Canal about a year hence has been the
cause of apprehension among investors in railroad
securities. Professor Emory R. Johnson, of the
University of Pennsylvania, has probably given more
study to the effect which the new water way will have
upon transportation than any other man. A summary
of his conclusions may be found in Senate Document
No. 875. Professor Johnson shows that the total
eastbound transcontinental traffic coastwise and by all
rail lines amounts to about 3,000,000 tons annually,
of which the railroads carried in 1911 about 2,686,500
tons, the share of the water carriers in that year being
10 per cent. The west-bound tonnage is about the
same, but there is a difference as to the points of origin.
While the east-bound traffic comes from points at or
near the Pacific coast, the west-bound traffic originates
in a zone that extends far inland from the Atlantic
coast. By reason of the low cost of transporting commodities from New York to ports on the Gulf of Mexico
by water, much freight may be taken at points as far
west as Buffalo and Pittsburgh, shipped by rail to New
York and thence by the Sunset-Gulf route to San
Francisco and other Pacific coast cities in competition
with the all-rail route. On some commodities it is
even possible for the Southern Pacific to make a rate
from Chicago, via New York and New Orleans,to the
Pacific coast which will divert traffic from railroads
leading westward from Chicago.
717
As the all-water route will be even cheaper than the
Sunset-Gulf route it may be expected that shipments
from a greater inland zone and in larger quantities
will be diverted to the Atlantic coast ports ,for shipment westward when the Panama Canal is opened.
The effect ought also to ,be to enable the Canal route to
deliver east-bound traffic to points far inland from the
Atlantic coast. The result of this ought to be to increase the traffic and profits of the trunk lines.
The Central West, which.is becoming more and more
a .manufacturing section, will strive to get its products
to the Pacific coast by an all-rail .route in.competition
with the factories of New England and the Atlantic
coast States. Western railroads, including the Pacific
lines, will be inclined to encourage such shipmentsfrom
the Central West and will be apt to name rates to
foster the business. Traffic on the north and south
lines leading to the Gulf ought to be stimulated by the
opening of the Canal.
.Owners of vessels operating in the. coast-to-coast
trade will .naturally be inclined to Obtain as great a
profit as possible and consequently it .may be reasonably expected that they will not take cargoes at
rates much below those named by the all-rail carriers.
An important factor which will help to sustain the
traffic of the railroads will be the steady growth of
population of the entire country and the growth of
industries of the interior. What Might be- termed the
interurban traffic will not be impaired in any way by the
Canal. Coal, ore and 'grain, which constitute a large
percentage ,of the traffic of some roads, should not be
diverted from their present routes on account of the
Canal. The readjustment will be a matter of years,
and during its progress many mitigating circumstances
will no doubt arise which will prevent serious injury
to investors interested in the railways of this country.
THE CHICAGO & NORTH WESTERN REPORT.
If any one ,has any doubt as to the unfortunate
plight in which the railroad-carrying interest finds
itself as a result of the many unfavorable conditions and surroundings, the development of the
last few years, he should study the annual report
of the Chicago & North Western Railway Co.—should
compare the results for the latest year not alone
with those for the twelve months immediately preceding, but also with those for some years further
back. The North West is one of the largest and the
most important of the Western railway systems. It is
now and has always been one of the best managed
railroad properties in the country. It has had, too,
a record of enviable prosperity. The policy pursued
in the management of the property has been such as
to command general approval,as being advantageous
alike in the interest of the proprietors and of the
general public consfstfng of those vast communities
which a railroad is built to serve and upon whose
welfare and prosperity it is dependent for its sustenance. In the development of the system a conservative and yet progressive .course has been pursued.
There has been no reckless expansion; nevertheless
the system has been steadily extended through the
judicious construction of branches and feeders and
the building of lines into new territory.
Enormous amounts of capital have been expended
from time to time in accordance with the wise standards
here outlined. Until within the last few years these
new capital outlays were handsomely rewarded, but
ow a period has been reached where the outcome
n
'218
THE CHRONICLE
of such ventures is, to say the least, discouraging.
The new capital expenditures add to the volume of
business and increase the total of. the gross revenues,
but the net results are disappointing. In other
words, the aggregate net income of' the system tends
downward notwithstanding the growing volume of
traffic. It follows that the new outlays are no longer
productive in the sense of yielding better net and
furnishing an adequate return on the increased
capitalization—for obviously new capital outlays
mean either an added amount of bonds or of stock,
and frequently of both, on which a profit must be
earned if there is to be inducement for continuing
the work in the future.
Judged by the experience of the Chicago & North
Western—and its experience has been no different
from that of other railroad systems in the United
States—this inducement to invest new capital with
the hope of a profitable return no longer ,exists.
Expenses (by reason of higher wages and the higher
cost of operating generally) are increasing faster
than the growth in traffic and in gross revenues. In
addition, Government is enacting constantly augmenting toll in the shape of taxes.
In the year under review gross revenues fell off
$1,219,594, owing to the inactivity of general trade
and an unsatisfactory crop yield. The loss was
entirely in the freight department; the passenger
revenue continued to expand. But this falling off of
$1,219,594 in gross revenues could be met with a
reduction in expenses of only $310,867 and coincidently taxes increased $306,804. Hence,in expenses and
taxes combined there was a saving in the insiginficant
sum of $4,063. It follows that the loss in gross revenues counted almost to its full extent as a loss in net.
The inability to contract expenses becomes the
more noteworthy when it is found that the maintenance outlays were actually considerably reduced.
The company spent $262,657 more for maintenance
of equipment but $633,510 less for maintenance of way
and structures. The transportation expenses on the
other hand, ran up notwithstanding the smaller
volume of business done. It appears that total operating expenses included no less than $30,350,692 paid
for labor and that this was an increase of $331,734 over
the year preceding. Proceeding a step further, it is
found that the increase due to higher rates of compensation to the employees as compared with the year
preceding amounted to no less than $471,397, but
that this was offset to the extent of $139,663 because
of decrease in time worked by employees. In the
previous fiscal year the showing was much the same.
In that period of twelve months there was a decrease
of $1,312,287 because of less time worked by
employees, but on the other hand there was an increase of $1,111,316 on account of higher rates of
compensation paid the employees and a further increase of $136,521 in the taxes.
Nor has the management relaxed its efforts to promote efficiency of operations; and such efforts have
not been lacking in fruitfulness. We note, for
example, that during the last two years the average
train-load of revenue freight has been raised from 261
tons to 299 tons. This, it will be seen, is an addition
of over 12%. In the same two years the earnings Of
the trains have increased from $2 32 per mile run to
$2 71. This saving and promotion of efficiency in
operation has, of course, been helpful, but it has not
served to countervail the large and general increase
in expenses.
[VOL. Lxxxxv.
If we carry our analysis two or three years further
back we get a still better idea of how rising operating
cost has cut into net incoMe notwithstanding steady
development of efficiency in operations. It is perhaps well to note that on the lines of the North Western
system West of the Missouri River, conditions are
not such as to admit of a high-train-load and that,
therefore, success is dependent largely upon what is
done East of the Missouri River. The present report
for the first time gives the train-load on the Eastern
and Western lines separately. On the Western lines
the average lading of revenue freight was less than 137
tons but the average train-load East of the Missouri
was 324 tons. Furthermore, while the increase in
the late year in the lading of the trains on the Western
lines was only 2.58%, on the Eastern lines it was
8.02%.
It should be understood that the late year's loss in
net earnings follows a loss in previous years too. In
1910-1911 the changes were relatively slight, but it is
significant that a gain then of $742,501 in gross
revenues was attended by an augmentation in expenses
in amount of $859,091, producing, consequently, a
decrease of $116,590 in net. In the year preceding
the result was yet more disappointing as regards the
net, for in face of a wonderful expansion in tonnage
and in gross revenues, net earnings actually fell off;
stated in brief, gross earnings moved up no less than
$8,197,213, but expenses rose in the still larger amount
of $8,962,379; consequently net earnings were reduced
in the sum of $765,166. If, now, we unite the results
for the three years, we find that while for 1911-1912
the gross was $73,698,591, against only $65,978,471
three years before, in 1908-09, on the other hand the
net was only $20,996,748, against $22,787,231 in
1908-09. This, too, is before deducting the taxes,
which in the same three years rose from $2,714,631 to $3,422,838. In brief, then, while the gross is
$7,720,120 larger than three years ago, the net is
$1,790,483 less, besides which taxes have increased
$708,207, making the total diminution in net $2,498,690. Could any more striking instance be furnished
of the trying conditions under which railroad operations
now have to be carried on, as a result of the rise in
operating cost and the restrictions and regulations of
Government control, both national and State—all
causes beyond the control of the managers?
But the foregoing tells only half the story. We have
already indicated that under the conservative and
yet progressive policy pursued in the conduct of this
property, the new capital expenditures each year
reach large proportions, even when outlays are rigidly
restricted. In the year under review $15,000,000 of
bonded indebtedness was assumed in connection with
the building and acquisition of the Milwaukee Sparta
& North Western Ry. In the previous fiscal year the
company put out $22,500,000 of its 4% general mortgage bonds and in the year before $30,502,800 of new
stock was issued. This makes a total of new stock
and bonds put out in the three years of $68,002,800,
and shows what has been done to develop the property
so that it might be capable of meeting the needs of the
communities which the system serves. But while
this large extra amount has been invested in the
property, the net income from its operation, as we
have already seen, has been reduced, roughly, $2,500,000. That is, while the addition to stock and
debt called for larger net earnings, the amount of the
net has actually been falling away in a notable degree.
• What has been said prepares us for the effect of this
SEPT. 21_ 1312.]
THE CHRONICLE
situation on the company's income as related to its
fixed charges and dividend requirements. The Chicago & North Western used to be able to show a large
surplus above its dividend requirements, and the
policy was pursued of devoting this surplus to improvements and betterments. As recently as 1905-06,
only six years ago, the company made a specific appropriation of $6,000,000 out of the year's earnings, and
even then had left a balance on the operations of the
twelve months, over dividend requirements, in
amount of $2,316,609. The dividend on the common
stock is still the same, namely 7%, but for the year
under review the surplus above the requirements for
that purpose was no more than $567,715, without
taking anything out for betterments and improvements. Are we astray, therefore, when we say that,
under the trying conditions now imposed upon the
railroads, as reflected in the results here narrated,
the inducement for entering upon new extensions
'and development work has been largely taken
away?
Fortunately, traffic conditions for the immediate
future are highly promising, and this should prove
helpful in bridging over the time until public sentiment
shall force the politicians to modify their attitude of
hostility toward railroad interests. Minnesota and
the two Dakotas have just raised a crop of spring
wheat of exceptional proportions, and this insures
a large traffic in grain for the new or current fiscal
year. At the same time, general trade is active and
the iron and steel industry is experiencing unexampled
activity, which latter will afford.a large ore traffic on
the company's branches to the ore regions. This is
• a rare combination of favorable circumstances, and
with the aid of the same the income showing for the
current fiscal year ought to record decided improve• ment over the year under review.
In the interest of the general public it is highly
desirable that the rail carriers should be allowed to
• earn each year a fair surplus above the amount required to meet their immediate needs for interest and
dividends. Given such a surplus, some income can
be employed each year in development and improvement work which otherwise would have to be raised
• through new capital outlays—either stock or bonds—
with a resulting increase in fixed charges or dividend
requirements. Some day the public will recognize
• this fact, and then the railroad carrying industry will
enter upon a new era of prosperity
THE MILWAUKEE & ST. PAUL UNDER
UNFAVORABLE CONDITIONS.
The Chicago Milwaukee & St. Paul Ry. Co. makes
a poor showing in its annual report submitted the
present week. But the event was looked for, having
been clearly foreshadowed by the monthly statements
issued during the course of the year. Everyone having been prepared for just such a result, it has created
no surprise whatever.
The company reduced the semi-annual dividend on
its common stock last January to 2 2% from the previous 3%,thus placing these shares on a 5% dividend basis,and the annual report shows that during
the twelve months ending June 30 1912 the company
fell far short of earning even 5% on the stock. As a
matter of fact, the amount of income available for
dividends on the operations of the year was only $9,930,446, whereas the 7% dividend on the preferred
stock took $8,115,232,leaving,therefore,for the corn-
719
mon shares but $1,815,114, which is equivalent to
only about 1% on the $116,348,200 of common
shares outstanding.
The company made tremendous new capital outlays
in building its Puget Sound extension, and the unfavorable character of its income exhibit is commonly
referred to that circumstance. It is true that in
the year under review the company was unable to
collect any dividend on its stock holdings in the
Puget Sound Company, whereas its income from that
source the previous year reached $5,000,000 and
that would appear to bear out the view expressed.
In reality, however, the causes of its misfortunes
lie much deeper than this. As a matter of fact, the
Puget Sound line may be said to be doing remarkably
well. The late year is only the third year of its
operation and yet it earned $16,132,612 gross and $6,620,584 net, not counting income from outside sources.
This is at the rate of $7,836 gross per mile of road
operated and $3,215 per mile net. For a line 2,000
miles in length this is surprisingly good so soon after
its opening and we do not think a parallel to it can
be found in the case of any other new undertaking
of large dimensions. The reason for the relatively
good exhibit is found in the circumstance that this
Puget Sound extension does not, to any great extent,
pass through territory which had previously been
wholly unopened, but in its course touches old and
large established trade centres built up through
railroad facilities furnished by the older transcontinental lines.
Nor can it be maintained that the Chicago Milwaukee & St. Paul is not getting a direct return on
its investment in the Puget Sound Line even though
no .dividend was received in 1911-12 on its holdings
of stock in that line. The actual money investment
in the Puget Sound property is represented by the
Puget Sound bonds, of which the Milwaukee & St.
Paul Company received $155,000,000 (and only
about $26,000,000 have been sold) in return for
acWances in that sum and by other obligations received for 'further advances. On all this bonded
and other indebtedness the Puget Sound line is paying
interest (which as received goes to swell the Milwaukee & St.Paul'sincome from investments) and this
interest, too, is being earned by the Puget Sound
Company. In the year under review the Puget Sound
line had interest and other charges to meet in amount
of no less than $7,007,191 and the company's incortie
for the twelve months was sufficient to take care of
the whole of this except $151,537.
It will be seen, therefore, that we are right in saying
that the causes of the Milwaukee & St. Paul company's
present condition lie deeper than anything connected
with, or growing out of, the building of its Pacific
Coast extension. In the main these causes are the
same as those that have modified so greatly the
former extraordinarily favorable income showing
of the Chicago & North Western Ry., whose annual
report we have reviewed in the previous article.
In other words the trying conditions experienced by
the North West.Company have fallen also to the lot
of the Milwuakee & St. Paul Company. This means
that repeated advances in wages and the higher
price of nearly everything else entering into the operating accounts of a railroad, together with the
inability to get increased rates for the transportation
service rendered as operating cost advanced, has
brought the Milwaukee & St. Paul Company to its
present pass.
720
THE CHRONICLE
[VoL. Lxxxxv.
As indicating the part played by these influences, we present troubles. Evidently, in preparation for the
would direct attention to the fact that,though in the larger volume of business expected, orders for 171
year under review the gross earnings of the Milwaukee locomotives and for 3,644 new cars of various de& St. Paul decreased $1,853,252, expenses actually scriptions have been given.
increased $689,438, thus producing a loss in net
revenue of $2,542,690, which loss was further in- BANKING, FINANCIAL AND LEGISLATIVE NEWS.
—The public sales of bank stocks this week aggregate
creased to $2,748,700 through an augmentation of
shares, of which 510 shares were sold at the Stock Ex523
$206,010 in taxes. In the year preceding, the showing
change and 13 shares at auction. All but 10 shares of the
twelve
of
was of like character. In that period
total represent transactions in National Bank of Commerce
months gross earnings improved slightly, the in- and National City Bank stocks. A lot of 10 shares of Corn
crease being $129,101, but there was an augmentation Exchange Bank stock was sold at 325—an advance of 15
in expenses in amount of no less than $2,262,721, thus points over the price paid in March when the last previous
was made. No trust company stocks were sold.
causing a loss in net of $2,133,620, which was further sale
Shares. BANKS—New York. Low. hioh. Ciose. Last previous sale.
440
Aug. 1912— 435
444
430
raised to $2,278,899 by an addition to taxes of $133,- a 128 City Bank, National
385 Commerce, Nat. Bank of_ 203 34 z207 Az206 Sept. 1912— 203
327. The rise in operating cost, however, had its •
1912— 310
325
Mch.
325
325
Bank
Exchange
Corn
10
•
beginning still further back, for we find that in 1909- *Sold at the Stock Exchange. a Of this amount, 115 shares were sold
1910, though gross increased in the large sum of at the Stock Exchange. x Ex-dividend.
—The first meeting of the Board of Governors of the In$4,949,431, net earnings were actually reduced in
vestment Bankers' Association was held at the Union L3ague
amount of $1,110,328, owing to an addition to ex- Club, Chicago, yesterday. Twenty-two members of the
penses in the sum of $6,059,759. By combining the board were present. Two hundred and twenty firms were
three years, therefore, it is found that while gross regularly admitted to membership in the organization at
earnings increased from $59,897,463 to $63,122,743, the meeting. A list of the members will be published when
has been filled. It was decided to
the net—owing to the rise in operating expenses from the charter membership
first annual convention of the association in Now
the
hold
64.66% to 75.64%—fell away from $21,166,225 to York later in the year. The date and details of this con$15,379,587.
vention will be arranged by a committee to be appointed
In other words, in the three years there has been by President Caldwell.
—To-day the readers of the "Chronicle" will receive a
a shrinkage in net from circumstances entirely beyond
of the "American Bankers' Convention Section"—our
copy
the control of the managers of,roughly,30%,and this
usual supplement which is devoted to a full report of the
has occurred notwithstanding operating efficiency deliberations of the annual convention of the American
has been increased,so that with the same rate per ton Bankers' Association, held at Detroit, Mich., last week.
per mile the freight trains- earned $2 41 per mile run in This year's number is printed throughout in a soft Milori
1911-1912 against only $231 in 1910-11. On the larger green ink and is bound with a French-gray cover. Besides
entire proceedings and addresses delivered before the
volume of business, had the company simply been the
main convention, we also report the work of the Trust Comable to maintain the level of the net prevailing three pany Section and the Savings Bank Section.
years ago (without increasing the same at all), the
—The officials elected at Detroit last week by the American
total of the net for the late year would have been Bankers' Association to serve for the ensuing year were
$5,786,638 above the amount actually earned, a sum Charles H. Huttig, President of the Third National Bank of
of the
equal to almost 5% on the outstanding amount of St. Louis, President; Arthur Reynolds, President
Des Moines National Bank, Des Moines, Iowa, Vice-Presicommon stock. In that event, instead of only $1,- dent; Thomas J. Davis, Cashier of the First National Bank
815,114 remaining for the common shares on the of Cincinnati, Chairman of the Executive Council and
operations of the twelve months, the amount would J. Fletcher Farrell, Vice-President of the Fort Dearborn
have been $7,601,752, a sum equal to about 6% National Bank, Chicago, Treasurer (re-elected). Colonel
General-Secretary and
on the common stock outstanding. Accordingly Fred. E. Farnsworth was re-elected
Thomas B. Paton, General Counsel
the Milwaukee & St. Paul Company's predicament
The,following were elected Chairmen of the various sections:
must be ascribed to the rise in operating cost rather Trust Company Section: Ralph W. Cutler, President Hartford Trust Co., Hartford, Conn.; Savings Bank Section:
than the building of the Pacific Coast extension.
In the year under review, however, there was one William E. Knox, Comptroller Bowery Savings Bank,
Clearing House Section: A. 0. Wilson, Vicefurther drawback, namely a crop shortage. This is New York City;National
Bank, St. Louis; American Institute
President State
nferred to in the report, which says that the crop of Banking Section: F. A. Crandall, Vice-President National
failure of 1911 in Western Minnesota, South Dakota City Bank, Chieago, and State Secretaries' Section: W. C.
a Id Southern North Dakota was the most complete MacFadden, Vice-President Commercial Bank, Fargo, N. D.
Among those elected on the Executive Committee of the
that ever occurred in these States. This unpreSection was John W. Platten, President of
Trust
cedented crop shortage, it is stated, affected the the Company
United States Mortgage & Trust Co. of this city.
territory tributary to about 24% of the total miles
Upon the election of Mr. Huttig to the presidency of the
operated and was largely the cause of the decrease in Bankers' Association, Ile was tendered a cordial reception
freight revenue. As a result of the grain-crop shortage by his many friends, who were glad to see that he had so far
of
assume the
there was a diminution in the total number of tons recovered his health as to be able to recipient ofduties
a very
Mr. Huttig was the
ofice.
the
high
of grain transported of 762,193 tons.
handsome loving-cup and several beautiful floral tokens.
The present season's crops, however, will most
—Speaking before the Rochester Chapter of the American
certainly be a great improvement on those of last Institute of Banking on Thursday evening on "Banking
years. President A. J. Earling asserts that the 1912 Reform from the Standpoint of a Depositor," Elliott C.
crop of small grains in the territory tributary to McDougal, President of the Bank of Buffalo, said:
A mistaken impression appears to have gone abroad Concerning the
In
the company's lines are, excellent and the yield will be action
of the American Bankers' Association at its recent convention
Association did not drop the work of banking and currency
The
Detroit.
also
He
notes
that
average.
the
above
considerably
any
reform. It, then and there, pledged itself to help any effort to pass
there has been a general revival of business. He properbIll. If a better bill than the "Aldrich Bill" be brought 'award,the
report
The
American Bankers' Associatibn will give It active support.
hence gives it as his opinion that there will be a of
Its committee did say: "It is Idle to hope for general legislation of
session of Congress"; and the
substantial increase in the earnings of the current such An Important character In a short
judgment of the committee, on this point, Is sound. Even educational
fiscal year: There is obviously full warrant for work should be suspended until after the Presidential election,as no good,and
possIblY positive harm,may be done by the discussion °ranch a subject during
such a forecast and the improvement in results will the
camheat of a political campaign. As soon as that campaign is over, the
help the Milwaukee & St. Paul Company out of its paign of education shotild be resumed that, when the time conies fOriCton-
SEPT. 21 191.:,
THE CHRONICLE
gram to vote upon this question. It may vote upon it intelligently. There
Can be no reasonable doubt that, when the people of the United States of
America have suffic ently studied this question,a good bill will be passed.
So far as the New York State Bankers' Association is concerned, I see
not the slightest evidence that it intends to abandon its work on behalf of
currency and banking reform. Its committee on Currency Reform,
backed by the united sentiment of the Association, will resume active educational work as soon as the Presidential campaign is over.
121
tion of the funds of a bank in companies controlled by the
banks officers and directors. On this point the Comptroller says:
The examiner has hardly any other way of obtaining Information relative to the standing of the concerns in which the officers and directors of
the banks are interested, except from the mere statement of the officers
that the loans are, good and the companies are in good financial standing.
The Comptroller will insist that the books of the said corporations, firms or
concerns be open to the examiner so that he may be able to get such information as will enable him to determine whether or not the concerns are
money-making ventures.
If the officers and directors unduly concentrate the funds of a bank
in
their own ventures. the Comptroller feels that, in view of the fact that he
Is charged with the duty of protecting its depositors, he is
entitled to
know whether the concerns in which the funds of a bank are
Invested are
paying or losing ventures.
—Despite the failure of Congress to act on President
Taft's recommendation for a National budget,and the provision in the Legislative Bill prohibiting the submission
of departmental expenses in any other form than is now required by law, Mr. Taft has ordered the preparation of estimates of appropriation for the expenses of the various departments of the Government in conformity with the budget
This requirement is to be observed beginning October 1,
plan. The right to exercise his authority in this respect is
the basis of a letter to Secretary of the Treasury MacVeagh, when the examiners will also be asked to comply with the
following regulations in addition to what they are already
made public yesterday, in which the President says:
doing in their examination work:
If the President is to assume responsibility for either
the manner In
In all country banks the board of directors is to be convened
which business of the Government is transacted or results obtained, it is
and the exevident that he cannot be limited by Congress to such information as that amination of the assets by the examiner is to be made In their presence and
branch may think sufficient for his purposes. In my opinion, it is entirely with their help and co-operation.
The Comptroller found some time ago that
competent for the President to submit to Congress and to the country a
there were upward of 1,000
statement of resources, obligations, revenues, expenditures and estimates In banks throughout the country In which the majority of the board of directorswere not local men. The objection has generally
the form he deems advisable. And this power I propose to exercise.
been made that when the
The United States Is the only great country that does not have a budget. examiner asked for a board meeting the directors could not be convened
Each year the Congress has been making increasingly large appropriations, readily because they did not live In or near the town in which the bank
based on estimates which arc submitted by officers acting in the capacity was located. A letter was addressed to all these banks by the Comptroller
of ministerial agents to Congress, under a law which makes no provisions asking that at least a majority of the board be able to meet with the exwhatever for executive review and revision. This I have sought in a aminer whenever he requested it, and if the board was not so constituted
•measure to correct by asking the heads of departments to send estimates that it should be reorganized so that a majority of the directors could
to me before they were printed. But the conditions attached by Congress at all times be readily available.
Heretofore the matter of the examiner meeting with
have been such as to make executive review Impossible.
the board of directors
The present legal directions as to estimates arc based on the theory that has been left to the discretion of the examiner, but now the Comptroljer
wishes
to have the examiner convene the board of directors
there Is no need to take stock before passing on appropriations; that it is not
in every bank
necessary to consider revenues or Treasury resources. Congress has direc- examined.
If an examiner finds any matters subject to criticism,
ted each executive officer to submit an estimate through the Secretaty
the directors are
of the Treasury, who Is made to ervc lir the capacity of an official messen- entitled to know of it promptly and enter into an agreement with the Compger, without any discretion whatever unless a department head may fall to troller through the examiner for prompt correction of any violations found.
prepare a request for appropriations in the form prescribed by Congress, in This can only be done by a meeting of the board of directors with the
which event the Secretary of the Treasury has imposed upon him the duty examiner.
•
Another and as equally important a reason for convening the board of
to submit an estimate for him.
Congress has created certain committees on appropriatons who alone directors of country banks at each examination Is that the Comptroller
have power to review and revise requests of department heads. Even in its has asked the examining committee of the board of directors to make a
comprehensive examination of the bank and to file a copy of the same with
own organization, however, Congress has failed to make provision for
conthe Comptroller. Many banks have boards of directors who are not suffisidering expenditures and estimates for appropriations in relation to
revenues.
ciently well informed in the methods to be pursued in making such an exAuthority is granted for the expenditure of a thousand million dollars amination and the Comptroller will ask all his examiners to go over the plan
each year without any thought as to where the money is coming from. This of examination which he has outlined with the directors of each bank and
is done on the theory that there will be no deficit—Congress has
been explain tq the board just how this examination should be made and what
doing what has been called "surplus financing."
points should be especially covered and reported to the Comptroller of the
While the Constitution makes Congress responsible foe money-raising. Currency.
This will be an additional burden on the examiners, but the Comptroller
as well as for appropriations, responsibility for borrowing has been shifted
to the President, by empowering him to procure loans to meet deficits In feels that the good resulting from this method Is such as to outweigh any
arguments against the extra work which will be caused the examiners.
ease a deficit may result.
The great question of national expediency which is raised by the action
The Comptroller has arranged to meet here to-day (Saturof Congress above referred to is:
Shall we or shall we not have a national budget? I do not question the day) the examiners located in and near New York City for
Constitutional right of Congress to prescribe the manner in which reports of the discussion of several matters pertinent to
the examinar
expenditures and estimates shall be submitted to it by department officers.
tion of banks.
I do question the practical wisdom of continuing to operate the Government
under 90 different statutes, passed at 90 different times, which prescribe
—In a communication to the New York "Times," -ex200 different forms of preparing and submitting financial data to Congress
Senator
Charles A. Towne of Minneapolis takes. issue with
and the public—data which, when prepared, have no element of uniformity
or standard and cannot be used to present to officers or to the people an Edward L. Andrews in his views respecting the legality of
accurate picture of activities pertaining to any one subject of the
Govern- the inquiry by Congress into the "money trust." 'In his
ment as a whole.
argument, which was quoted at some length in these columns
Although by such cursory review as could be given, I have
succeeded each
year In reducing initial estimates millions of dollars, it Is not just to
make the Sept. 7, Mr. Andrews expressed the opinion that, from the
President in any but a slight degree responsible for such
estimates when standpoint of legality, the inquiry could justify itself only as
required to be submitted to Congress in the manner at present
prescribed. the basis of future enactments
. "If it seeks to traverse busiI have gone thus at length in stating my position in order that
you may
understand the reasons for urging that you co-operate with the Commission ness territory which cannot, or should not, afford a province
on Economy and Efficiency In the preparation of such financial
statements for legislation," he said, "the pursuit of this investigation
and summaries as will enable Inc to place before Congress and the country
for
the first time in our history a clearly stated and understandable businesslike has no legal or moral justification." In answer to Mr. Anproposal which will enable Congress and the country to think in terms of drews, Mr. Towne says:
what It Is that the Gov erument is doing, what it is that the Administratio
n To the Editor of The New York Times:
proposes to do. With this accomplished, the people may judge for
themWill you allow me space for a few words of comment on the opinion of
selves whether the proposals sent to Congress are In the interest of
public Mr. Edward L. Andrews, holding illegal the proposed investigation of the
welfare and as such should be supported.
Pujo Committee into the operations of the "Money Trust." It is undoubtThe further recoin nendatton which I have made is this, that In the prepaedly an ingenious performance, and presumably has given considerable
ration of data for the budget you and the head of every other department
temporary consolation to his fearsome clients. I can imagine, however
shall clearly indicate what changes in law are thought to be desirable as
a how congenially the astute Mr. Untermyer would apply himself to
its
means of increasing the economy and efficiency of the service. What
Is refutation.
desired is open-handed dealing between the Congress and the executive
The investigation, says Mr. Andrews, "can justify itself only as the
departments, and In this the public should be taken into confidence through
basis of future enactments."
Obviously, therefore, if It, be shown
the broadest publicity that may ensue.
that the facts to be elicited by the Committee's inquiry are pertinent to
Under the Constitution the President is entrusted with the executive
subject-inatter upon Which it is within the Constitutional competency of
Power, and is responsible for the acts of beads of departments, and
their Congress to base "future enactments," the contention of Illegality must fall.
subordinates as his agents, and he can use them to assist him In
his ConMr. Andrews has gone too far afield. Two of the grants made to Constitutional duties, one of which Is to recommend measures to
Congress, gress by the Constitution seem to me to give the amplest warren
t I makln
and to advise it as to the existing conditions and their betterment.
able
to the Committee's program. They are found, of course, In th
If Congress Is permitted to assume exclusive jurisdiction over
what the famous Section 8 of Article I.. and are as follows:
President may seek to learn about the business transacted by
the depart"The Congress shall have power • • • to regulate commerce with
ments; if Congress is to say that the President shall not find
out what is foreign nations and among the several States, and with the Indian tribes;
the present manner of doing business, what results arc being
obtained,
•
• • to coin money, regulate the value thereof, and of foreign coin.
what it is that officers for which he is responsible propose to do,
and what • • •,,
amounts are being asked for future expenditure; if heads of
departments
Under each of these grants it is perfectly clear that Congress may legisare to be considered purely as the ministerial agents of Congress In the
prepa- late on the methods and Instrumentalities of Inter-State credit. In Mobile
ration and submission of estimates, then as far as the business
of the vs. Kimball, 102 U. S., 702, the Supreme Court defined commerce as emGovernment is concerned, the President of the United States is
shorn of bracing "intercourse and traffic, including* in these terms navigation and
most, important executive power and duty.
the transportation and transit of persons and property, as well as the pur—Under further plans which Comptroller of the Currency chase, sale and exchange of commodities." In the Knight case (156
U. S.,
Lawrence 0. Murray purposes to adopt in his effort .to 13) the same Court said: "Contracts to buy, soil or exchange goods to be
transported among the several States • • • may be regulated • • • .1
make bank examinations as effective as they can be made because they form part of Inter-State trade or
commerze."
under, the present law, he announces that his examiners
It is a commonplace that credit plays altogether the most important role
transactions.
When
commercial
it
in
Is
recalled
that under the general
will be called upon to hereafter inquire into the concentragrant contained in Sectjon 8!above cited, of power "to make all laws which
722
THE CHRONICLE
Lxxxxv.
best efforts to get the best
• shall be necessary and proper for carrying into execution the foregoing tioneers only and using their
powers," the Supreme Court of the United States has found warrant for possible price for what they have to offer.
the action of Congress in establishing a national bank (held "necessary and
—The Mechanics' & Metals' National Bank of this city has
proper" to carry out the provisions, "to lay and collect taxes," "to borrow
- money," to "regulate commerce," "to declare and conduct war," and "to sold its premises at 29-33 Wall St. to J. P. Morgan & Co.,
raise and support armies and navies," McCulloch vs. Maryland, 4 Wheat,
to round out a larger plot on the corner of Wall and Broad
016), In issuing a paper currency (held incidental to the powers "to borrow
is understood, of a large
. money" and "to coin money," in the Legal Tender cases), and in taking streets for the ultimate erection, it
the notes of State banks (Bank vs. Fenno, 8 Wall., 533), how can it be building by the Morgan house. The combined plot has
• doubted that the fullest regulation of the great agencies and conditions
a frontage of 158 feet on Wall Street and 113 feet on
'Of inter-State credit must be held to be within the Constitutional powers
Broad Street, the assessed land value of which is $3,870,000.
of Congress?
But'it is equally evident that Congress has jurisdiction over this subject Henry P. Davison, a member of the firm of J. P. Morgan &
•
under the grant "to regulate the value" of the money it coins, and of foreign
Co., made the following statement on Thprsday with regard
coins. The total volume of price-determining material includes not only
•colned money but all kinds of representative and credit money that actually to the latest acquisition:
31 and
We have purchased the buildings adjoining us, including Nos.29,
perform the function of purchasing commodities and paying debts. The
we sill probably erect a new building on the site
purchasing power of a dollar varies not only with the number of real dollars 33 Wall St. Eventually
decided
been
fully
not
have
plans
our
although
use,
exclusive
our own
also
in circulation but also with the extent and condition of credit; and the for
upon as yet. Just when the proposed new building will be erected has
'rates of interest in large commercial transactions depend in great. measure not yet been decided upon. The report that J. P. Morgan & Co. have, or
not
have
We
absolutely
Incorrect.
Is
Building
of
credits.
Mills
granting
are bidding for, the
'on the methods that control the
for any other property In Wall or Broad
In discharging its duty to regulate the value of the coined money of the bought nor are we negotiating
streets.
considcountry, then Congress not only may, but ought to, give careful
Gates W.McGarrah, President of the Mechanics' & Metals'
eration to all the phenomena of Inter-State credit. It, In the performance
by one
on
an
investigati
as
necessary
Bank also confirmed the report of the sale; he
of this high duty, that body regards
National
cities
,of its committees into the credit-controlling institutions of the great
while the management had not fully concluded
that
added
,of the United States, there can be little doubt that any legal challenge to
in its plans for the future, it did not intend to leave Wall Street.
that course would find the courts governed by the doctrine thus quoted
Jul'Hard vs. Greenman (110 U. S., 421) from McCulloch vs. Maryland:
—The deposits of the Farmers Loan & Trust Co. of New
one
"Where the law is not prohibited, and is really calculated to effect any
inquire
London and Paris, Edwin S. Marston, President, at
to
here
York,
to
undertake
t,
the
to
Governmen
intrusted
objects
of the
which circum- the recent bank call for September 9 were $126,385,719.
Into the degree of its necessity would be to pass the line
ground."
scribes the Judicial Department, and to tread on legislative
The Farmers Loan & Trust Co. is the largest of all the trust
CHARLES A. TOWNE.
companies in this country which do not owe their size to
1012.
1
Sept.
York,
New
consolidation with other companies. On the same date
its cash on hand and in bank was $29,018,619, capital
$1,000,000, undivided profits, $6,570,755 and aggregate
resources $134,911,475.
—Willard V. King, President of the Columbia-Knickerbocker Trust Co., of this city, has been elected a trustee of
the New York Life Insurance Co.
—William Baxter, the New York agent for the Chartered
Bank of India, Australia and China, 88 Wall Street, this
city, has this week received cable advices from the London
In warrants against offices of the corporation that its directors have declared
The Wilkin-Hale Bank took over about $200,000
Suit
& Day Bank.
the bank-guaranty fund from the assets of the Night
for the past year at the rate of 13%
to recover on these an interim dividend
was brought against the banking board last spring
tax.
income
was
of
free
board
the
annum,
that
per
alleging
Bank
e
warrants, officers of the Wilkin-Hal
flied.' The case
on the 17th inst. as a member
retired
paying other claims which originated after theirs were
Gardner
P.
—Walter
after the board had
reached the Supreme Court on appeal but was dismissed
k & Co. of this city to accept
Groesbec
of
firm
$40,000
banking
of
the
About
time.
agreed to take up the warrants within a specified
money in the a vice-presidency in the New Jersey Title Guarantee & Trust
in, warrants have been taken up but there is not sufficient
guaranty fund at present to take up more.
Co. of Jersey City—his native city. Thomas H. Tierney,
nt Bankers' Associa- who has occupied a confidential position with Groesbeck &
. —Secretary Fenton • of the Investme
-tion, has leased space in the Harris Trust Building, Chicago, Co. since its formation, has been admitted as a partner in
.for permanent headquarters of the organization.
the firm.
--George B. Caldwell, Vice-President of the Continental &
—The State Trust Co. at Plainfield, N. J., in less than two
entertained
. Commercial Trust & Savings Bank, of Chicago,
years reports deposits of more than $500,000. This instituay afternoon
at luncheon at the Union League Club Wednesd
tion began business on Sept. 16 1910, and under the call of
city in
many of the leading investment bankers of that
the Commissioner of Banking and Insurance as of Sept. 4,
ion
honor of R. H. Newell, Chief of the Government Reclamat
deposits of $502,152 19. The capital is $100,000,
in reports
doing
is
ent
Governm
the
work
the
of
Service, who spoke
surplus and profits, $49,832 41.
reclaiming the arid lands of the West. Mr. Newell outlined
—Charles M.Eckert, Cashier of the National Ulster County
that
what had been done during the past twenty-five years
of Kingston, N. Y., died on.the 3rd inst.
Bank
ce
he has been active in the service. He told of the importan
—S. B. French has been appointed to the new position
of competent engineers, gave the reasons for the many failures of Assistant to the President of the Citizens' rrust Co. of
lack of
staff
,of private capital in irrigation projects because of
Utica, N. Y. The addition of Mr. French to the official
proper engineering and lack of knowledge of actual overhead of this institution will, no doubt, be a valuable one, as he has
charges in connection with such enterprises and because of had years of experience with the New York Telephone Co.,
the ignorance of the laws in connection with water rights in with which he held responsible posts. He will be in charge
Many Western States. Mr. Newell •stated that there are of the trust company's credit department and will also assist
to-day but few successful irrigation projects in existence *un- in the work of furnishing high-grade securities to investors.
der the management of private capital, but thought that The Citizens' Trust Company, under the able management
with the help of the Government and its vast accumulation of its President, William I. Taber, has increased its busito
of reliable information, private capital could be made
ness over 300% in the last four years.
pay well.
—The Chicopee National Bank of Springfield, Mass.,
—As soon as the details can be arranged, an auction of is now occupying its magnificent new quarters at the
securities will be held in the office of F. J. Lisman & Co., corner of Elm and Main streets in that city. The main
Chicago, probably at 10:30 on each Tuesday morning. banking room is particularly handsome, the general design
in
The lists of offerings will be advertised, it is expected,
being Italian Renaissance. The marble • used throughthe local' papers. Responsible persons having securities out was imported from Skyros, Greece, and this, together
they wish offered may submit them, giving Lisman & Co. with the bronze and gilded pillars and the Tennessee marble
the order firm through the auction, and in the event of exe- floor, go to make up one of the handsomest bank rooms in
cution of the order, the commissions charged for transactions New England. The Chicopee National Bank, of which
event of
• on the Chicago Stock Exchange will apply. In the
Edward Pynchon is President, has the honor of being the
non-execution, or in the event of securities being offered oldest bank of discount in the city. It was established in
each
but limited as to price, an advertising charge of $2 for
zed in 1865.
to 1836 and nationali
ed
establish
is
nt
departme
This
made.
offering will be
H. Hahn, Sr., Secretary and Treasurer of
ck
—Frederi
bonds,
unlisted
and
furnish a public market for many inactive
the German-American Title & Trust Co. of Philadelphia,
:bank stocks, manufacturing stocks, and any current securion the 12th inst. Mr. Hahn was one of the organizers
died
ties that either are not listed or else are not active on the
institution.
of
the
responsino
assume
Stock Exchanges. The auctioneers will
—The stockholders of the First National Bank of Pitts• bility as to the quality of the securities offered or the prices
burgh will meet on Oct. 14 to vote on the proposition to in'at which they are sold, they acting in the capacity of auc-
—The Oklahoma State Banking Board levied an assessa
ment of one-half of 1% against the capital of the Oklahom
stated,
is
it
nt,
assessme
The
inst.
14th
the
State banks on
purpose of
• will raise about $150,000, and is levied for the
ale State
the
Wilkin-H
by
held
warrants
State
up
taking
Bank of Oklahoma City, and to provide for emergencies
• caused by the failure on Sept. 10 of the Merchants' & Planters' Bank of Sapulpa, Okla. With regard to the warrants
held by the Wilkin-Hale State Bank, which succeeded the
Night & Day Bank in 1911, the "Oklahoman" says:
SEPT. 21 1912.]
THE CHRONICLE
723
—The new Commercial National Bank of Minneapolis,
crease the capital of the institution from $1,000,000 to
$2,000,000. The additional stock, 10,000 shares, will be which has a capital of $200,000 and a surplus of $50,000,
issued at $175 a share, netting a premium of $750,000, which began business on the 16th inst. S. E. Forrest is President
will be available for addition to the surplus fund. This latter of the institution; he is associated with S. H. Bowman and
now stands at $1,000,000. The last change in capital oc- S. J. Mealey as Vice-Presidents, and Guy C. Landis as Cashier. .
—It is announced in the Memphis "Commercial Appeal"
curred in 1902, when the amount was increased from $750,000
that the nineteen indictments returned against Abner Davis,
to $1,000,000.
—George C. Morrison, President of the Title Guarantee former President of the Night dr Day Bank of Oklahoma City,
& Trust Company of Baltimore, committed suicide the past Okla.,were dismissed on the 7th inst. The "Appeal" states
week at the Baltimore Athletic Club. Mr. Morrison, who that County Attorney Hooker requested that the indictments
was forty-three years of age, had been very prominent in be dismissed because after Davis had been tried and convicted
financial and civic affairs. Besides having been President on one of the indictments,Judge Clark set aside the verdict
of the above-named company, he was Vice-President of the on the ground that it did not conform to the testimony.
—On Tuesday last the National State and City Bank of
Baltimore Trust Co., and counsellor and director of the Maryland Jockey Club. The unjust criticism to which he was Richmond, Va., opened for business in its enlarged and ensubjected for having assisted in obtaining a charter for a tirely remodeled quarters on East Main St. The counters
new race-track at Havre de Grace for the Jockey Club is at- are constructed of handsome inlaid Circassian walnut
tributed in a letter left by him as his reason for taking his life. and heavy plate glass and are ranged on either side
laid with
—Addison H. Hough, a special partner in the bond of the new banking room, the floor of which is
facility
every
Modern
marble.
new
and
Italian
equipment
National
the
of
director
a
house of Otis & Co.,has been elected
has
City Bank of Cleveland. It is reported that Mr. Hough, for the proper transaction of the bank's growing needs
One of the features is the massive new safety
D. R. Hanna and Robert L. Ireland are at the head of a been added.
vault of the very latest design and workmanship.
syndicate which has purchased a large block of stock in the deposit
a capital of $1,000,000, surplus of $600,000
bank. The institution has a capital of $250,000 (2,500 The bank has
$7,000,000. William H. Palmer is Presiof
resources
and
by
held
to
have
been
said
are
shares
857
which
of
shares),
Wm. M. Hill and J. W. Sinton, ViceS.
Ellett,
John
dent;
who
the family of the late President, John F. Whitelaw,
died last June. Since his death, T. W. Burnham, Vice- Presidents, and Julien H. Hill, Cashier.
—Savannah, Ga., is to have another massive "skyPresident, has been acting President.
—W. B. Hopkins has resigned as Chief Examiner in the scraper," if the plans now proposed by the Savannah Trust
owns a very
Ohio State Banking Department to accept the position as Co. are carried to completion. The company
frontage on
Chief Examiner for the new Equitable Casualty & Bank prominent block in the city, having 60 feet
both Bull and Whitaker streets by 180 feet in depth. The
Depositors' Guarantee Co. of Columbus.
design submitted by the architects calls for a structure 18
—A first dividend of 70% was paid on the 4th inst. to the
stories in height, with a possible increase to 20 stories;
which
Toledo,
of
depositors of the Mechanics' Savings Bank
which would make the building one of the largest in the
closed its doors on May 9. Its deposits amounted to about
entire South.
$120,000.
—The organization of the Macon National Bank of Macon,
—On next Wednesday and Thursday, Sept. 25 and 26,
has been completed. The application to form the instiGa.,
the 22d annual convention of the Illinois Bankers' Associawas approved in the spring. At a meeting of the
tution
tion will be held in Peoria, Ill. The deliberations will be stockholders on the 12th inst. the following officers were divided into four parts—Education and Public Welfare, elected: Richard F. Lawton, President; Robert G. Jordan
Finance and Banking, Agriculture, and Good Roads. and Jesse B. Hart, Vice-Presidents; Richard E. Findlay,
Among the speakers . will be Dr. George E. Vincent Cashier; Henry C. King and Ben S. Heard, Assistant
of the University of Minnesota; Dr. W. 0. Thompson, Cashiers. The Board of Directors includes: Sam. Guthman,
President of the Ohio State University, and Charles A.
capitalist; R. F. Lawton, President of Lawton, Jordan &
Conant of New York. B. F. Harris of Champaign is PresiCo.; R. G. Jordan, President Bank of Talbotton, Ga., and
dent and R. L. Crampton of Chicago is Secretary of the
of the Jordan Realty Co. of Macon; L. A. Sheppard, SecreAssociation.
tary of the Georgia Life Insurance Co.; W. T. Anderson,
—It was announced the past week that the La Salle Street General Manager of the Macon "Telegraph"; Eli Elkan,
National Bank of Chicago had purchased the Farwell Trust President Crescent Laundry; T. H. Halliburton, of Roughbuilding at the southwest corner of Quincy and La Salle ton-ThIlliburton Co.; J. W. Jordan, President Farmers' SupThe bank will ply Co. of
streets, at a price said to be $500,000.
Talbotton and Cashier of the Bank of Talbotton;
locate in the new premises after they have been remodeled. Malcolm D. Jones, of the firm of Miller & Jones, attorneys;
It is also stated that the interests in the bank have under- W.L. Mathers, Secretary and Treasurer of Central of Georgia
taken the completion of the organization of the trust Brick Co.; Jesse B. Hart of Jesse B. Hart & Bro.; and
company which was incorporated at the time of the for- J. L. Jessup, President of J. L. Jessup Agency.
mation of the La Salle Street National Bank in 1910.
—The merger of the Sixth Ward Bank of Atlanta with the
The trust company will have the same amount of Travelers' Bank & Trust Co. of that city has been confirmed
capital as the bank, viz.: $1,000,000, and a surplus of by the stockholders of the latter. The consolidation is
$250,000; the stock of the company will be held in trust effected under.the name of the Travelers' Bank & Trust Co.,
for the stockholders of the bank.
which increases its capital from $200,000 to $300,000.
—The consolidation of the Ashland State Bank of Chicago Three new directors have been added to its board,namely,
with the West Englewood State Bank was ratified by the George C. Spence, Ivan Allen and M. C. King.
stockholders of both institutions on the 12th inst.; the plan
—J. C. Rogers, who has been connected with the municipal
of merger was given in our issue of Aug. 24. The enlarged bond firm of G. G. Blymyer & Co., San Francisco, for a
bank, which takes the name West Englewood-Ashland State number of years, has been appointed manager of the new
Bank, will use the offices of the Ashland Bank as banking bond department to be installed by the Capital National
quarters, while the real estate department will be conducted Bank of Sacramento.
—D. J. Barker, chief accountant of the Bank of Montreal,
in the present location of the West Englewood Bank. The
officers of the consolidated institution will he John Bain, has been appointed Assistant to the General Manager,
President; Michael Maisel, Vice-President, and Edward C. H. V. Meredith. Mr. Barker has been connected with
for a number of years, previous to which he_was an
Barry, Cashier. The Ashland State Bank was formed on the bank
official of the Royal Trust Co.
the
ExAshland
of
take
over
the
to
business
1910
Dec. 3
change & Savings Bank. Its President, Isaac N. Powell,
FALL RIVER MILL DIVIDENDS FOR NINE MONTHS
retires with the consolidation.
OF 1912.
—E. W. Decker, President of the Northwestern National
Thirty cotton-manufacturing corporations located in Fall
Bank of Minneapolis, has just celebrated his twenty-fifth River which furnish reports of operations have declared divianniversary in the service of the bank. Mr. Decker started dends during the third quarter of the year. The total
less than for the corresponding
with the Northwestern as a messenger boy and has seen amount paid out is slightly
a year ago. The aggregate of the amount distributed
periods
a
bank
with
from
deposits
of
less
develop
institution
the
has been $308,116, or an average of 1.11% on the capital.
than three million dollars to one of the largest in the North- Six mills passed their, dividends, five declared at a smaller
west, with deposits of thirty millions. He received many rate than in 1911 and the remainder maintained last year's
congratulatory messages from his host of friends and business percentage. In 1911 the aniount paid by twenty-eight mills
associates.
AlA • A was $309,617, or an average of 1.12%. In 1910,the.atnount
724
THE CHRONICLE
paid out was $435,150, or an average of 1.64%. In 1909
the average rate was 1.61% and in 1908 was 1.50%.
Third Quarter.
1912 and 1911.
Capital.
Dividends 1912. Dividends 1911. Inc. +)
or
Amount.
Amount. Dec.(-)•
Amer. Linen Co_ _
800,000 1
8,000 No d ividend.
Ancona Mills_ _ _ _
300,000 al ;6
1.500 al 3,6
1,500
Arkwright Mills.._
450,000 No d Ividend.
No d IvIdend.
Barnard Mfg. Co_
495,000 Nod ividend.
No d ividend.
Barnaby Mfg. Co_
350,000 No d ividend.
3,500
1
Border C'yMfg.Co. 1,000,000 1
10,000
10,000
Bourne Mills__ _ _ 1,000,000 1j
15,000 13
15,000
Chace Mills
1,200,000
12,000 1;
18,000
1
Conanicut Mills_ _
251,570
2,517
1
2,516 1
Cornell Mills
400,000 2
8,000 2
8,000
Davis Mills
1,250,000 136
18,750 1318,750
Davol Mills
500,000 136
7,500 1 %
7,500
Flint Mills
11,600
1,160,000 1
1
11,600
Granite Mills_ _ .1,000,000 1
10,000 1 ;6
15,000
Hargraves Mills._ _
800,000 No d ividend.
1 36
12,000
King Philip Mills.. 1,500,000 1 36
22,500
22,500
Laurel Lake Mills
9,000
600,000 18i
9,000
Lincoln 811g. Co_ _
10,500 18i
700,000 1 A
10,500
Luther Mfg. Co_ _
5,250 1 ;6
350,000 1 ;6
5,250
Mechanics' Mills_
1
750,000
7,500 1
7.500
Merchants'Mfg.Co 1,200.000
1
12,000 No d ividend.
NarragansettMilis • 400,000 1
4,000 13.
6,000
Osborn Mills_ _ _ _
1 }.4
11,250 13
750,000
11,250
Parker Mills
800,000 No d ividend.
1 3,6
12,000
Pocasset 3,11g. Co. 1,200,000
12,000 1 36
1
18,000
Richard Borden
-Mfg.Co
1,000,000 1 3,6
15.000 1 315,000
Sagamore Alfg.Co. 1,200,000 1i
18,000 13
18,000
Seaconnet Mills.. _
600,000 No d ividend.
No d ividend.
Shove Mills
550,000 1
5,500 1
5,500
Stafford Mills_ __ _ 1,000,000 1
10,000 No d ividend.
Stevens Mfg. Co..
10,500 1 36
700,000 1 ;5
10,500
Tecumseh Mills_ _
750,000 13i
11,250 1
11,250
Troy Cotton &
Woolen Mfg.Co.
300,000 2
6,000 2
6,000
Union Cot.Mfg.Co 1,200,000 1 ;•4
18,000 13,
18,000
Wampanoag Mills
750,000 1 .
7,500 No d Ividend.
500,000 1 36
Weetamoe Mills
7,500 No d ividend.
+8,000
-3,500
-6,000
-5,000
-12,000
+12,000
-2,000
-12,000
-6.000
+10,000
+7,500
+7,500
Total
27,756,670 1.11
308,116 1.12
309,617 -1,501
preferred stock.
'•
Combining the foregoing results with those of the half-year,
we have the following exhibit for the nine months. It is
seen that on a capitalization of $27,756,670, the mills have
paid out in dividends $826,250 in the nine months of the present year, or an average of 2.98% against 3.94% in 1911,
5.23% in 1910, 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.
Nine Months.
1911.
Capital.
Total
Dividends 1912. Dividends 1911. Inc.(+)
or
% !Amount.
%
Amount. Dec.(-).
$
800,000
300,000
450,000
495,000
350,000
1,000,000
1,000,000
1,200,000
251,670
400,000
1,250,000
500,000
1,160,000
1,000,000
800,000
1,500,000
600,000
700,000
350,000
750,000
1,200,000
400,000
750,000
800,000
1,200,000
$
1
8,000
434
4,500
No d ividend.
No d ividend.
No dividend.
3
30,000
4 ;‘,
45,000
3
36,000
3
7,550
6
24,000
4 36
56,250
4 ;6
22,500
2
23,200
3
30,000
No d ividend.
436
67,500
3;5
21.000
4 3.6
31,500
4 ;6
15,750
3
22,500
2
24,000
3
12,000
4 i6
33,750
No d ividend.
2
24,000
$
2 Y,
18,000
4 ;6
4,500
No d ividend.
1 ;6
1,425
3
10,500
4
40,000
4 ;6
45,000
5
60,000
4
10,067
6
24,000
4 36
56,250
22,500
48i
236
29,000
5
50,000
5;6
44,000
486
67,500
5
30,000
4 ;5
31,500
4.6
15,750
3 36
26,250
23.6
30,000
5
20,000
4 36
33,750
556
44,000
4%
54,000
1,000,000
1,200,000
600,000
550,000
1,000,000
700,000
750,000
4.6
45,000
4 36
54,000
No d Ividend.
2
11,000
1
10,000
486
31,500
4i..6
33,750
5 36
55,000 -10,000
5M
66,000 -12,000
No d ividend.
4
22,000 -11,000
1 8‘
15,000 -5,000
4 ;6
31,500
4.3.
33,750
300,000
1,200,000
750,000
500,000
6
41.
2
3
18,000
54,000
15,000
15,000
6t6
4 ;6
1 36
23-5
27.756,670
2.98
826.250
Amer. Linen Co....
Ancona Mills....
Arkwright Mills_ _
Barnard Mfg. Co..
Flarnaby Mfg. Co_
Border C'yAlfg Co.
Bourne Mills_ _ _ _
Chace Mills
Conanicut Mills
Cornell Mills
Davis Mills
DavOl Mills
Flint Mills
Granite Mills....
Hargraves Mills._
King Philip Mills_
Laurel Lake Mills
Lincoln Mfg. Co_ _
Luther Mfg. Co....
Mechanics' Mills_
Merchants'Mfg.Co
NarragansettMills
Osborn Mills.... _ _
Parker Mills
Pocasset Mfg. Co.
Richard Borden
Mfg. Co
Sagamore Alfg.Co.
Seaconnet Mills._
Shove Mills
Stafford Mills_ _ _ _
Stevens Mfg. Co_
Tecumseh Mills....
Troy Cotton &
Woolen Mfg.Co.
Union Cot.Mfg.Co
Wampanoag Mills
Weetamoe Mills
19,500
54,000
11,250
12,500
$
-10,000
-7,425
-10,500
-10,000
$5,000 00
23,650 00
13,250 00
770.950 00
14,010 00
$5,000 09
23,650 00
13,250 00
768,450 00
14,010 00
904,150 26
004,150 26
21,731,010 26
RECAPITULATION.
$1,728,510 26
Aggregate 'debt on which interest has ceased
since maturity
ClassificationInterest-bearing debt
Debt Interest ceased
Debt bearing no interest_
Total gross debt
Cash balance in Terasury*
Aug. 311912.
$964,631,630 00
1,728,510 26
376,185,829 40
July 311912.
$964,031,030 00
1,731,010 26
316,872,871 00
Increase (+) or
Decrease (-).
-82,500 00
-687,042 50
$1,342,545,969 06 $1,343,235,512 16
304,641,783 69
311,648,787 04
-$689,542 50
-7,007,003 35
$1,037,904,185 97 $1,031,586,725 12
+$6,317,460 85
* Includes $150,000,000 reserve fund.
The foregoing figures show a gross debt on Aug. 31 of
$1,342,545,969 66 and a net debt (gross debt less net cash
in the Treasury) of $1,037,904,185 97.
TREASURY CASH AND DEMAND LIABILITIES.
The cash holdings of the Government as the items stood
Aug. 31 are set out in the following:
ASSETS.
LIABILITIES.
Trust Fund HoldingsTrust Fund Liabilities8
Gold coin
1,053,126,269 00 Gold certificates
1,053,126,260 (10
Silver dollars
489,512,000 00 Silver certificates
489,512,000 00
Silver dollars of 1890....
2,884,000 00 Treasury notes of 1890._
2,884,000 00
Total trust fund
1,545,522,269 00
General Fund HoldingsCart. checks on banks....
695,455 57
Gold coin and bullion..
17,257,942 26
Gold certificates
104,475,830 00
Silver certificates
17,665,069 00
Silver dollars
4,814,706 00
Silver bullion
2,023.802 82
United States notes_ _ ....
8,067,352 00
Treasury notes of 1890...
8,451 00
National banknotes.... _. 40,879,279 64
Fractional silver coin..
25,308,819 15
Fractional currency..
348 48
Minor coin
2,069,780 84
Bonds and interest paid..
30,344 45
Total trust Ilabilities..1,545,522,269 00
Gen. Fund LiabilitiesNational bank 5% fund_ 26,692,033 89
Outstanding checks and
drafts
13,242,611 36
Disbursing officers' balances
75,104,249 33
Post Office Department
account
5,283,399 47
Miscellaneous items_ _ _ _
1,771,443 98
Tot. gen. Ilabillties.._ 122,093,738 03
Tot. in Sub-Treaeles_ 223,297,214 21
In Nat.Bank Depositaries
Credit Treasurer of U.S.. 35,042,520 12
Credit U.S.dis. officers_ 12,375,288 77
Total in banks
47,417,808 89
In Treas. of Philippine IslandsCredit Treasurer of U.S..
3,059,004 23
Cash balance and reserveU.S.
officers..
Credit
dis.
2,961,494 39 Total cash and reserve_304,641,783 69
Made up ofTotal In Philippines__
154,641,783 69
6,020,498 62 Available
and
Reserve Fund HoldingsReserve FundGold coin and bullion ...... 150,000,000 00
150,000,000 00
Gold & bull
Grand total
1,972,257,790 72
Grand total
1,972,257,700 72
-24,000
-2,517
TREASURY CURRENCY HOLDINGS.-The following
compilation, based on official Government statements, shows
,
the currency holdings of the Treasury at the beginning of
-5,800 business on the first of June, July, August and September
-20,000
-44,000 1912.
-9,000
-3,750
-6,000
-8,000
-44,000
-30,000
-1,500
+3,750
+2,500
3.94 1.094.492 -268.242
DEBT STATEMENT OF AUGUST 311912.
'The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued Aug. 311912. For statement of July 311912,
see issue of Aug. 24 1912, page 459; that of Aug. 31 1911, see
issue of Sept. 6 1911, page 706.
INTEREST-BEARING DEBT AUGUST 31 1912.
-Amount Outstanding--Amount
Interest
Registered. Coupon.
Issued.
Total.
Title of LoanPayable.
S
8
$
$
2s, Consols of 1930.
Q.-J. 646,250,150 642,371,650 3,878,500 646,250,150
Q.-F. 198,792,660 44,121,400 19,824,060 63,945,460
3s, Loan of 1908-18
4,Loan of 1925
Q.-F. 162,315,400 100,177,750 18,312,150 118,489,900
2s, Pan. Canal Loan 1006..Q.-F. 54,631,980 54,608,380
23,600 54,631,980
2s, Pan. Canal Loan 1908_0.-F. 30,000,000 29,658,920
341,080 30,000,000
3s, Pan. Canal Loan 1911_Q.-S. 50,000,000 34,328,600 15,671,400 50,000,000
23,6s,Post.Sav.bonds 1911„J.-.I.
37,080
4,820
41,900
41,900
29is,Post.Sav.bonds 1912...1.-.1.
319,380
417,380
98,000
417,380
2368, Post.Sav.bonds 1912 J.-J.
714,840
854,860
140,020
854,860
Aggregate Int.-bearing debt _ _1,143,304,330 906,338,000 58,293,630 964,031,630
DEBT BEARING NO INTEREST.
July 31.
Aug. 31.
United States notes
$346,681,016 00 $346,681,016 CO
Old demand notes
53,282 50
53,282 50
National bank notes-Redemption account
23,282,743 50 22,595,701 00
Fractional currency, less $8,375,934 estimated as
lost or destroyed
6,855.829 90
6,855,829 90
•Aggregate debt bearing no Interest
9376,872,871 90 $376,185,829 40
DEBT ON WHICH INTEREST EMS CEASED SINCE MATURITY.
July 31.
Aug. 31.
Funded loan of 1891, continued at 2%. called
May 18 1900, interest ceased Aug. 18 1900.......
Funded loan of 1891, matured Sept. 2 1801
Loan of 1904, matured Feb. 2 1904
Funded loan of 1907, matured July 2 1907
Refunding certificates, matured July 1 1907
Ohl debt matured at various dates prior to Jan. 1
1861 ano other items of debt matured at various
dates subsequent to Jan. 1 1861
Total net debt
a On ;100,000
1912 and
[VoL. Lxxxx%.
TREASURY NET HOLDINGS.
J'ne 1 1912.July I 1912. Aug.1 1912. Sept. 1 '12.
Holdings in Sub-Treasuriies$
$
8.
$
Net gold coin and bullion
244,189,050 263,362,063 268,747,666 271,733,772
Net silver coin and bullion
24,911,692 28.037,520 24,379,131 24,503,570
Net United States Treasury notes
14,110
8,454
9,908
12.573
Net legal-tender notes
8,657,798 8,758 893 8,497,777 8,067,352
Net national bank notes
35,937.196 39,938,688 42,711,981 40,879.280
Net fractional silver
25,584.333 2501.048 25,630,820 25,308,849
Minor coin, &c
3,440,715 3,148,230 3,140,921
2,795,929
Total cash in Sub-Treasuries.. _342,734,894 368,836,3471373,020,86 373,297,214
Less gold reserve fund
150,000.000 150,000,000 1no 000910 150,000,000
--
Cash balance in Sub-Treasuries...192,734,894 218,836,347 223, 0,869 223,297,214
Cash in national banks
47,525,400 48.156 ""7 4,,924,685 47,417,809
Cash in Philippine Islands
5,659,006 4.76 1,970 5,051.6(14 6,020,09
Net Cash in banks, Sub-Treas_245,919,300 271,75.,,294 275,997,218 276,735,522
(Moe t current liabilitics_a
105,494,486 114,348.431 122,093,738
Available cash balance
126,997,558 166,263,808 161,648,787 154,641,784
a Chiefly "disbursing officers' balances." f Includes $2,023,802 82 silver bullion
and $2,795,929 34 minor coin. &c., not Included in statement "Stock of money."
IMPORTS AND EXPORTS OF GOLD AND SILVER AT
SAN FRANCISCO.
The Collector of Customs at San Francisco has furnished us
this week with the details of the imports and exports of gold
and silver through that port for the month of July, and we
give them below in conjunction with the figures for preceding
months, thus completing the results for the seven months of
the calendar year 1912.
IMPORTS OF GOLD AND SILVER AT SAN FRANCISCO.
Govt.
Months.
Coin.
1912.
January „
February __
March
April
May
June
July
Total 7 mos.!
$
27,948
18,747
290,587
250,000
Total.
107,001
203,849
213.098
142,866
313,659
149,064
195,341
$
134,949
222,506
213,098
433,453
313,659
399,064
195,341
Coln.
10,360
3,200
21
15,472
225,000
5,254
Bullion.
113,870
57,558
75,350
86,403
124,733
32,392
39,807
Total.
124,736
60.758
75,371
101,875
124,733
257,392
45,001
58.7,282 1,324,878 1,912,160
259,807
530,119
789,926
7 mes..1911.'t 3,179,557 1.795,994 4,975,551
368,407
501,804
930,211
EXPORTS OF GOLD AND SILVER FROM SAN FRANCISCO.
Silver.
Gold.
Months.
Bullion.
Coin.
1912.
January
February
March
April
May
June
July
Total.
Button.
Coin.
945
1,146
3,999,168 3,999,168
6,270 1,019,395 1,025,065
945
1,145
Total 7 mos_
6,524,325 6,524,325 .
13,490 5,018,563 4,132,053
5,690
673,000
Total.
a
$
1,147,900 1,197,400
543,329
543,329
1,145,300 1,145.300
814,632
814,632
1,371.514 1,371,514
661,663
661,663
840,487
840,487
5,130
5,130
7 mos. 1911_
WVYK
English Financial Markets-Per Cable.
F The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London.
• Week ending Sept. 20.
Fri.
Wed. Thurs.
Tues.
Mon.
Sat.
293-16
29 3-16 29%
d 29 1-16 29 1-16 2934
Silver, per oz
74%
74 1-16 74%
74%
74%
74%
Consols, 2% per cents
74 3-16 743-16
74 5-16 74 9-16 74%
74%
For account
91,50
91.35
91.27%
French Rentes (in Paris), fr_ 92.52% c91.57% 91.55
89%
00%
89%
90%
90%
Amalgamated Copper Co__ _ _ 89%
87
88%
87%
88%
88%
87%
Amer. Smelt. & Refg
9%
9%
9%
9%
9%
9%
bAnaconda Mining Co
111%
111%
Ill
111%
112%
Atch. Topeka & Santa Fe_ _ _111
105
105
105
105
105
105
Preferred
109%
1093
110%
110%
109%
110%
%
Baltimore & Ohio
89
89
89
89
89
89
Preferred
2823j 282
283
284%
285%
285
Canadian Pacific
82
82%
82%
83%
83%
Chesapeake & ,Ohlo
83%
18%
18%
18%
18%
Chicago Great Western
17%
18%
109 X
109%
110
110%
110%
110%
Chicago Milw. & St. Paul
22%
22%
22%
22%
22%
22%
Denver & Rio Grande
38%
39
39
Preferred
38
38%
39
37
37%
Erie
37%
38%
38
37%
54%
54%
55%
56%
56
First preferred
563.
45
45
Second preferred
45%
45%
45%
45%
142
144%
Great Northern, preferred._ _142q
142q
143%
144%
131%
132
133
Illinois Central
132%
133
1333.
166%
Louisville & Nashville
167%
167
167%
167
106%
Missouri Kansas & Texas
295
30
30
29%
29%
30
%
Preferred
65
64%
64%
64%
65
65
Missouri Pacific
43
43
42%
42%
42%
43%
Nat, RR.of Mex., 1st pref.- 67
67
67
67
67
67
1
Second preferred
39%
30%
30%
30%
30
303
118%
N. Y.Central & Hud. River_117%
118%
117%
117%
1183.
1
38
N. Y. Ontario & Western
37%
38
38
37%
37%
120
120%
120%
120%
119
Norfolk & Western
119%
90
90
Preferred
90
132%
131%
132
129
130
Northern Pacific
130
64
6ti
t?3,
4%
631%
a Pennsylvania
63%
631%
8
87
86
85%
86%
a Reading Company
45%
45%
45%
45%
45%
45%
a First preferred
4949
49
a Second preferred
27%
F7-;i
27%
iii2
27%
28-34
Rock Island
113
114%
112%
114%
114%
112%
Southern Pacific
32%
32%
32%
32%
32%
32%
Southern Railway
SS%
86
86
87 . 88%
8854
Preferred
176%
176%
176%
173%
174
174%
Union Pacific
9254
92%
92%
91%
93
93
Preferred
76%
76%
77
74%
7454
75
U.S. Steel Corporation
116%
116%
116%
116%
116%
116%
Preferred
4%
4%
4%
4%
Wabash
4%
454
14%
14%
14%
Preferred
1454 1454 15
7134
7134
71
71%
71%
Extended 4s
7154
goininerciat and grasceilanconsnon
BANK NOTES-CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS, &c.-We give below tables which
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit. The statement for August 1911
will be found in our issue for Sept. 23 1911, page 772.
Circulation Afloat Under-
1911-1912.
Bonds.
$
727,317,530
725,505,460
724,493,740
724,265,600
723,035,910
721,315,120
722,026,920
719,811,320
717,578,120
715,560,170
714,170,320
713,062,810
Legal
Tenders.
Legal
Tenders.
Bonds.
$
8
22,595,751 723,905,556
23,282,793 721,623,148
24,710,882 720,424,110
25,631,642 719,861,030
27,115,655 718,604,693
27,869300 717,001,493
25,724,070 718,548,203
20,167,97? 715,493,996
26,240,119 714,363,06[•
27,619,008 712,115,338
28,065,375 711,009,938
28,811,903 708,976,451
Total.
$
$
22,595,751 746,501,307
23,282,793 744,905,941
24,710,881 745,134,992
25,631,642 745,492,672
27,115,655 795,720,348
27,869,790 /44,871,283
25,724,070 744,272,273
26,167,972 741,661,968
26,240,119 740.603,187
27,649,008 739364,346
28,065,375 739,165,313
28,811,903 737,788,358
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on Aug. 31:
U. S. Bonds Ileld Aug. 31 to Secure-
Bonds on Deposit
August 31 1912.
PublicDePosits
Bank
in Banks.
Circulation.
Total
Held.
8
25,050,500
19,774,220
601,031,350
52,666,280
28,795,180
4%, U. S. loan of 1925
3%, U. S. loan of 1908-1918
2%, U. S. Consols 01 1930
2%,U.S.Panama of 1936
2%, U.S.Panfuna of 1938
3%, U.S. Panama of 1961
4%,Philippine loans
4%,Porto Rico loans
3.65%, District of Columbia
Various, Territory of Hawaii
4%, PhillInine Railway
Various, State, City and Railroad
.,
i
3,591,000
3,783,300
12,391,700
1,495,500
712,000
16,964,000
4,524,000
715,000
812,000
685,000
202,000
1,852,000
8
28,641,500
23,557,520
613,423,050
54,161,780
29,507,180
16,964,000
4,624,000
715,000
812,000
685,000
202,000
1,852,000
47.727.500
775.045.030
Total
National Bank Notes-Total AfloatAmount afloat Aug. 1 1912
Net amount retired during August
$744,905,941
1,595,366
$746,521,307
Amount of bank notes afloat Sept. 1 1912
Legal-Tender NotesAmount on deposit to redeem national bank notes Aug. 1 1912
Net amount of bank notes retired in August
$23,282,793
687,042
Amount on deposit to redeem national bank notes Sept. 1 1912____
$22,595,751
727,317.530
.STOCK OF MONEY IN THE COUNTRY.-The following
table shows the general stock of money in the country as well
as the holdings by the Treasury, and the amount in circulation, on the dates given. The statement for Sept.1 1911 will
befound in our issue of Sept. 23 1911, page 771.
Stock of Money Sept.3 1912.
In United
Held in
States.
Treasury.d
$
$
Gold coin and bultion____*1,832,083,564 167,257.942
Gold eertificates_b
101A75,830
Standard silver dollars_ _ _.. 565,395,367 4,814,706
Silver certificates
-- 17,665,069
Subsidiary silver bal71,425,508 25,308,849
Treasury notes of 1890
2,884,000
8,454
United States notes
346,681.016
8,067,352
National bank notes
746,501,307 40,879,280
-Money in CirculationSept. 1
Sept. 3
1912.
1911.
$
'611,699,353 593,485,758
948,650,439 923,689,689
72,471,805
71,068,661
471,846,931 460,348,911
146,116,659 139,524,195
3,185,773
2,875,546
338,613,664 342,431,706
705,622,027 693,775,797
Total
3,664.970,762 368,477,482 3,296,493,280 3,228,913,634
Population of continental United States Sept. 3 912 estimated at 95,936,000:
circulation per capita, $34 36.
* A revised estimate by the Director of the Mint of the stock of gold coin was
adopted in the statement for Aug. 11907. There was a reduction of $135,000.000.
a A revised estimate by the Director of the Mint of the stock of subsidiary silver
coin was adopted in the statement of Sept. 1 1910. There was a reduction of
$9,700,000.
is For redemption of outstanding certificates an exact equivalent in amount of the
appropriate kinds of money is held in the Treasury, and is not included in the
account of money held as assets of the Government.
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 $35,042,520 12.
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 New
York Custom House.
Customs Receipts
at New York.
Merchandise Movement to New York.
Imports.
Month.
January _
February
March _ _ _
April -May
June
-July
August- _
Total
a Price per s'utre. b £ sterling. c Ex-d vidend.
Bonds and Legal Tenders
on Deposit for
The following shows the amount of national bank notes
afloat and the amount of legal-tender deposits Aug. 1 and
Sept. 1, and their increase or decrease during the month of
August:
219,086 5,180,600 5,309,686
673,690
Monetartr4Tontin erciatEnglish/1cm,
Aug. 31 1912
July 31 1912
June 30 1912
May 31 1912
April 30 1912
Mch. 31 1912
Feb. 29 1912
Jan. 31 1912
Dec. 31 1911
Nov. 30 1911
Oct. 31 1911
Sept. 30 1911
725
THE CHRONICLE
SEPT. 21 1912.]
Exports.
1912.
1911.
1912.
1911.
87,174,822
80,426,111
94,289,891
95.298,037
88,860,861
74,937,441
85.,64,897
86.569,092
74,513,31:
66,677.g1.
84,75" •
71,0(5,446
73,9i ur,
69,527,1i
69,247,131
74,673.58'
06,475,201
69,345,53
72,192,950
70,515,o,
.7.217,45.
61,039,50
66,670,27(
72,500,821
61,365,707
61,749,886
1,u3th.su
73,279,67:
66,054,021
65,127,728
58,702,124
62,055,957
1912.
1911.
17,425,585 16,803,957
16,331,963
18,961.6)) 19,487,785
16,539,318 14,903.015
16,332,160 16,013,192
15,257,299 14,917,580
18,180,492 16,481.168
18,322,736 18,023,113
693,321,15 584,427,961 555,957,474 519,374,461. 138,310,997 132,970,163
The imports and exports of gold and silver for the eight
months have been as follows:
Gold Movement at New York.
Month.
Impo,ts.
1912.
$
1,894,791
January •
February ____ 1,441,101
2,464,941
March
1,665,013
April
1,802,25::'
May
3,024,221
June
1,838,481
July
2,376,891
August
Total
1911.
Exports.
1912.
$
$
1.325,148 1,751,573
632,423 10,507,393
1,158,724 7,332,800
' 1,616,931
470,07,
2,850,931
376,740
2,319,28( 6,025,618
519,06, 858,180
1,873:4(
38,800
1911.
$
871,441
351,125
436,29:
591,794
395,60(
49,77;
269,508
84,401
Silver-New York.
Imports.
Exports.
1912.
1912.
$
1,458,551
1,232,507
678,155
1,577,763
1,116,472
799,683
585,335
893,282
$
4,817,026
4,513,845
4,583,186
4.053.408
5,291,820
4,320,367
5,687,472
606,930
16,507,69) 11,149.58 'q.508.035 3,049,g41 8,341.748 33,874.054
National Banks.-The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
APPLICATION TO CONVERT APPROVED.
, Bank, Hagerman. Idaho, into "The First National
The IIagerman State
Bank of Hagerman.' Capital, $25,000. C. L. Nelson, correspondent.
Hagerman, Idaho.
CHARTERS ISSUED TO NATIONAL BANKS SEPT. 13.
CHARTERS ISSUED.
10,250-The People's National Bank of Rowlesburg, W. Va. Capital,
$25.000. A. A. Pickering, President: 0. C. Hileman, Cashier.
10,251-The First National Bank of Nesquehoning, Pa. Capital, $25,000.
J. H. Behler, President; J. C. Corby, Cashier,
10,252-The First National Bank of Honaker, Va. Capital, $25,000.
E. J. Boyd, President; Aaron Russ, Cashier. (Conversion of
The New Garden Bank (Inc.!, Honaker, Va.)
10,253-Marshall National Bank, Marshall, Va. Capital, $40,000. .1. S.
Mason, President: C. E. Kemper, Cashier. (Conversion of The
Bank of Marshall [Inc.1 Marshall, Va.)
10,254-The First National Bank of East Bernstadt, Ky. Capital,
$25,000. J. W. Creech, President; W. Q. Hamad, Cashier.
(Conversion of The East Bernstadt Banking Co.)
10,255-The Citizens National Bank of Broken Arrow, Okla. Capital,
$25,000. W. P. ?raker, President: L. T. Tryon. Cashier. (Conversion of The First State Bank, Broken Arrow, Okla.)
10,256-The First National Bank of Oldham. S. Dak. Capital, $25,000.
A. L. Freelove, President: F. B. Carter, Cashier. (Conversion
of The First State Bank of Oldham.)
10,257-The First National Bank of Annapolis, Ill. Capital, $25,000.
William Hart, President: J. B. 2$1010l1ght. Cashier.
726
THE CHRONICLE
VOLUNTARY LIQUIDATION.
3,786--The Sturgis National Bank of Hillsboro, Tex., Aug.9 1912. Consolidated with the Citizens' National Bank of Hillsboro. Liquidating agent, T. G. Hawkins, Hillsboro, Tex.
2,277-The Fourth National Bank of Boston. Mass. August 28 1912.
Consolidated with The Atlantic National Bank
'
of Boston, Mass.,
the title of the latter beinx changed to "The Fourth-Atlantic
National Bank of Boston.' Wm. N. Homer and Edgar F.
Hanscom, Boston, Mass., liquidating agents.
1,017-The Milwaukee National Bank of Wisconsin, Milwaukee, Wis.,
August 29 1912. Absorbed by The First National Bank of
Milwaukee. Geo. W. Strohmeyer, Milwaukee. Wis.. liquidating
agent.
6,009-The Angelina County National Bank of Lufkin, Tex., July 6 1912,
Consolidated with The Guaranty State Bank of Lufkin. Liquidating committee, W.J. Townsend Jr., I. D. Fairchild, A.Stroud and
W. H. Perkins, Lufkin, Tex,
Canadian Bank Clearings.-The clearings for the week ending Sept. 14 at Canadian cities, in comparison with the same
week of 1911, shows an increase in the aggregate of 28.2%.
1912.
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
Calgary
Victoria
London
Edmonton
Regina
Brandon
Lethbridge
Saskatoon
Moose Jaw
Brantford
Fort William
Inc. or
Dec.
1911.
$
IS
56,847,893 42,986,428
36,038,935 33,108,691
27,003,487 19,133,020
13,767,555 11,371,242
3,361,186 3,530,966
3,480,924 2,330,034
2,382,387 1,492,086
3,008,628 2,398,872
1,688,146 1,315,636
5,034,767 4,686,530
3.694,837 2,465,780
1,518,701 1,296,361
4,147,509 2,348,080
2,537,035 1,514,113
553,738
460,646
623,009
524,545
2,839,805 1,350,230
1,175,690
715.571
498,211
424,686
741,431 Not incl. in
Total Canada
1910.
171,106,446 133,503,511 +28.2 118,166,738 98,100,053
Flour.
Corn.
Wheat.
Oats.
Bdrley.
Rye.
bbls.19611s. bath. 60 its. bush 56 lbs. hush. 32 lbs. bush.48lbs.ltu.56 lbs.
Chicago __ _
152,480 1,716,200 3,192,600 1,244,400
214,500
58,600
Milwaukee_ _
70,000
515,200
547,200
305,620
82,500
283,400
Duluth
17,750 2,599,302
602,182 201,438
162,289
Minneapolis
3,524,880
64,210
491,970
884,600 394,310
Toledo
207,000
46,800
453,000
Detroit
5,000
7,000
93,434
151,000
Cleveland _
905
9,106
30,952
19,552
St. Louis_ _ _
68,620 1,257,484
485,155
467,500
59,200
9,900
Peoria
33,500
20,000
559,444
231,500
32,000
33,600
Kansas City.
1,815,200
118,800
171,700
Total wk.'12
Same wk.'11
Same wk.'10
348,255 11,671,373
319,287 6,829,742
363,131 7,503,458
4,897,015
3,643,388
4,107,692
3,940,111 2,075,882
3,605,726 3,228,370
3,333,619 1,881,138
780,348
288,694
114,794
Since Aug. 1
1912
2,133,255 61,184,775 21,610,823 36,886,056 7,107,710 2,690,791
1911
2,201,941 42,157,427 23,987,011 29,414,890 10,195,918 1,518,491
2,489,216 59.146,442 98.505.456 45.605,530 7.375.892 1,209,222
1910
Total receipts of flour and grain at the seaboard ports for
the week ended Sept. 14 1912 follow:
Receipts atNew York
Boston
Philadelphia
Baltimore
New Orleans *..._
Port Arthur
Galveston
Mobile
Montreal
St John
Flour,
Wheat,
bbls.
bush.
185,518 1,095,800
369,328
32,265
41,080
294,685
36,628
179,590
32,513
279,100
80,000
393,000
2,000
27,176 1,051,876
1,919
Corn,
Oats,
bush.
bush.
70,290 1,230,675
29,000
257,163
512,318
21,993
37,771
490,480
119,100
123,200
1,000
4,000
50,889
Barley,
bush.
1,275
835
Rye,
bush.
19,550
900
1,203
986
8,000
445,058
1,500
3,000
32,524
Total week 1912_ 359,099 3.74 ,379
354,043 3,068,394 35,837 24,436
Since Jan. 1 1912_ 1,930,985 8'117.254 26,896,071 39,095,242 3256,996 338,234
Week 1911
379,570 2,455,461
985,716
924,789 36,039 40,308
Since Jan. 1 1911_13,115,644 58,343,348 52,127,525 39,987,351 2914,242 433,325
* Receipts do -,t Include grain passing through New Orleans for foreign ports
on thr ,ugh bills t 1 lading.
The exports from the several seaboard ports for the week
ending Sept. 14 are shown in the annexed statement:
Wheat,
Exportsfrombush.
New York
923,480
Boston
416,936
Philadelphia ____ 152,000
Baltimore
186,847
New Orleans_ _ _. 304,000
Galveston
373,000
Mobile
Montreal
1,119,000
St. John
Total weekWeek 1911
3,555,263
2,423,057
Corn, Flour,
bush.
bbls.
4,768 68,671
23,433
5,683
12,000
1,200
4,600 12,000
8,000
4,000 2,000
45,000
1,910
Oats,
bush,
420,362
197,429
96,000
66,321
Rye, Barley,
bush.
bush.
413,000
59,000
38,001 155,273 1,104,112
625,226 206,005
51,597
59,000
Peas,
bush.
3,892
3,892
3,557
The destination of these exports for the week and since
July 1 1912 is as below:
am
Flour
Wheat
Since
Since
Week.
July 1
July 1
Week
Week
Exportsfor wertand Sspt.14.
1912. Sept. 14.
1912.
Sept. 14.
Since July 1 tobbls.
bbit.
bush.
bush.
bush.
United Kingdom__ 67,655 815,375 1,699,244 14,221,017
23,433
Continent
20,901 178,179 1,851,277 10,560.677
So. & Cent. Amer..- 19,918 271,292
206,730
4,742
3,595
West Indies
43,299 353,914
4,875
10,910
Brit. No. Am. Cols_ 3.500
15,002
Other Countries_
o7.289
4.000
63
Total
Total 1911
155,273 1.-^1 "51 ",555,262 24,997
206,005 1,934,134 2,423,057 19,149,452
Wheat.
Exports.
Corn.
1912.
Week
Sept. 14.
Bushels.
North Amer. 4,224,000
Russia
4,072,000
Danube
2,696,006
Argentina
1,176,00C
Australia
568,000
1,648,000
India
0th.countr's 192,000
1911.
.Since
July 1.
Since
July 1.
Bushels,
37,088,004
24,711,00(
14,776,001
18,818,006
5,816,000
21,832,006
1,846,00(
1912.
Week
Sept. 14.
1911.
Since
July 1.
Since
July 1.
Bushels. Bushels. Bushels.
Bushels.
32,800,000
26,000
152,000 3,829,000
24,770,000 774,000 3,877,000 14,826,000
17,832,000 366,000 6,726,000 20,018,000
13,752,000 6,231,000 65,557,000
60,000
10,152,000
13,882,000
2,204,000
Total ____ 14576 000 124,887,000 115,392,000 7,397,000 76,312,000 38,733,000
1909.
$
$
%
+32.2 38,547,883 34,664,072
+11.6 31,215,965 26,792,034
+40.8 17,665,367 13,404,082
+21.1 9,222,577 6,911,622
-4.8 3,667,321 3,583,847
+49.4 2,155,000 2,205.604
+59.8 1,661,419 1,661,227
+25.4 2,039,556 1,843,856
+28.4 1,698,434 1,594,776
+16.0 2,580,426 1,870,234
+49.4 2,255,293 1,346,816
+17.1 1,233,390 1,174,253
+76.6 1,797,527 1,137,580
+67.6 1,446,333
+20.2
500,623
+18.8
479,624
+110.3
+64.3
+17.3
total
Breadstuffs Figures brought from page 765.-The statements below are prepared by us from figures -collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for tile week ending last Saturday and
since August 1 for each of the last three years has been:
Receipts at-
The world's shipments of wheat and corn for the week
ending Sept.14 1912 and since July 1 1912 and 1911 are shown
in the following:
The quantitiy of wheat and corn afloat for Europe on dates
mentioned was as follows:
Week ending Sept. 14.
Clearings at-
Lxxxxv.
Since
July 1
1912.
bush.
74,908
14,000
251,971
316,297
1,125
12,787
38.001
671,088
621,226 4,891,700
Wheat.
United
Kingdom. Continent.
Sept. 14
Sept. 7
Sent. 16
Sent. 17
1912_
1912_
1911.
1010
Corn.
Total.
Bushels. Bushels. Bushels.
16,432,000 21,784,000 38,216,000
18,152,000 18,960,000 37,112,000
16,384,000 16,472,000 32,856,000
940 04fl 15.590 ono
15 040.000
United
Kingdom. Continent
Total.
Bushels. Bushels. Bushels.
10,217,000 24,548,000 34,765,000
9,231,000 23,834,000 33,065,000
1,921,000 3,579,000 5,500,000
10.710.000 0.600.000 20,400,000
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
When
Cent. Payable.
Books Closed.
Days Inclusive.
Railroads (Steam).
Beech Creek, guaranteed (quar.)
1
Oct.
1 Holders of rec. Sept.23a
Boston & Albany (quar.)
2
Sept. 30 Holders of rec. Aug.31a
Boston & Providence, guaranteed (quar.) 234 Oct.
1 Holders of rec. Sept.20a
Roston & Maine. common (quar.)
1
Oct. 1 Holders of rec. Aug.31a
134 Oct.
Boston Revere Beach & Lynn (guar.) _ _
1 Holders of rec. Septl4a
Brazil Ry., pref.(guar.)
134 Oct. 6 Oct. 1 to Oct. 5
Canadian Pacific, corn.(quar.)(No.65)
234 Oct.
1 Sept. 1 to Oct. 2
Preferred
2
Oct.
1 Sept. 1 to Oct. 2
Central RR. of N.J.(guar.)
2
Nov. 1 Holders of rec. Oct.21a
Chesapeake & Ohio (quar.)
134 Sept. 30 Holders of rec. Sept.6a
Chicago Burlington & Quincy (quar.)___ _ 2
Sept. 25 Holders of rec. Sept.19a
Chicago & Eastern Illinois, pref. (quar.). 134 Oct.
1 Holders of rec. Septl6a
Chicago & North Western, corn.(quar.)_
1 Holders of rec. Sept.3a
134 Oct.
Preferred (quar.)_
2
Oct.
1 Holders of rec. Sept.30
Chicago Rock Isl. & Pacific Ry.(quar.)_ _
134 Sept. 30 Holders of rec. Sept.13a
Clev.
. din. Chic. & St. L., pref. (quar.).. 134 Oct. 21 Holders of rec. Oct. 1
Fitchburg, preferred (guar.)
1 Sept. 2 to Sept. 10
134 Oct.
Grand Trunk, guaranteed
2
First and second preference '
2%
Great Northern (quar.)
134 Nov. 1 Holders of rec. Oct.17a
Heeling Valley (quar.)
134 Sept. 30 Holders of rec.Sept.20a
Interborough Rapid Transit (quar.)
234 Oct.
1 Holders of rec. Septl2a
Joliet & Chicago (guar.)
134 Oct. 7 Holders of rec. Sept.27a
Kansas City Southern, pref. (guar.)
1
Oct. 15 Holders of ree.Sept.30a
Lackawanna RR.of N.J.(quar.)
Oct.
1
1 Holders of rec. Sept. 9a
Maine Central (guar.)
134 Oct.
1 Holders of rec. Sept.16a.
Manhattan Ry., guar. (quar.)(No. 114)_
134 Oct.
1 Holders of rec. Sep. 160
Minn. St. P. & S.S.M..com &Did (No.19) 334 Oct. 15 holders of rec.Sept.20a
N. Y. Central & Hudson River (quar.)- - 134 Oct. 15 Holders of rec. Sept.20a
New York & Harlem. corn. & pref
Oct.
2
1 Holders of rec. Sept.20a
N. Y. Lack. & West,,guar.(quar.)
134 Oct.
1 Holders of rec. Sept.14a
N. Y N H. & Hartford (quar.)
Sept. 30 Holders of rec. Sept.9a
2
Norfolk Southern (quar.)
34 Oct.
1 Holders of rec. Sep. 14a
Norfolk & Western,adj. pref.(quar.)_
1
Nov. 18 Holders of rec. Oct.31a
Northern RR. of New Hampshire (quar.) 134 Oct.
1 Holders of rec. Sept. On
Norwich & Woresster, pref. (guar.)
2
Oct.
1 Sept. 15 to Sept. 30
Old Colony (quar.)
14 Oct.
1 Holders of rec.
Philadelphia & Trenton (guar.)
234 Oct. 10 net. 1 to Sept.14a
Oct. 10
Pitts! urgh Bessemer & Lake Erie, corn. _
134 Oct.
1 Holders of rec. Sept. 15
Pitts. Ft. W.&
reg. guar.(quar.)_
134 Oct. 8 Sent. 15 to Oct. 8
Special guaranteed
134
Chic.,
(quar.)
Oct.
1 Sept. 15 to Oct. 1.
Reading Company, 2d pref. (guar.)
1
Oct. 10 Holders of rec. Sept 24a
St. Louis & San FranciscoChic. & E.III. pref. stk. tr. ctfs.(quar.) 134 Oct.
1 Sent. 17 to Oct. 1
K.C.Ft.S.& M.pref,stk. tr. ctfs.(qu.) 1
Oct.
1 Sept. 17 to Oct. 1
St. Louis Southw., pref. (quar.)(No. 8). 134 Oct. 15 Holders of rec. Oct. 8a
Southern Paelfle (guar.)(No. 24)
1 fielders of rec. Sept. 9a
134 Oct.
Southern Railway, preferred
234 Oct. 28 Holders of rec. Oct. 5
Union Pacific, common (guar.)
234 Oct.
I Sept. 10 to Oct. 8
Preferred
1 sent. 10 to Oct. 8
Oct.
2
(Initel N. J. FIR. & Canal Cos. gu. (qu.). 234 Oct. 10 Sept. 21 to Sept. 30
Utica ez Black Rivet guar_
34 Sept. 30 Holders of rec. Sept.14a
West Jersey OZ Seashore
$1.25 Oct.
1 Holders of rec. Sept. 14
Wisconsin Central, preferred
2
Oct.
1 Holders of rec. Sept.7a
Street and Electric Railways.
Asheville Pow.& Lt., pref.(qu.)(No.2).. 1% Oct.
1 Holders of rec. Sept.23a
Augusta-Aiken Ry. & Elec., pref.(qu.) _
134 Sept. 30 Holders of rec. Sept. 25
Aurora Elgin & Chic.RR.,corn.(quar.)...
Oct. 10 Sept. 19 to Oct. 16
34
Preferred (guar.)
134 Oct. 10 Sept. 19 to Oct. 15
Bangor Ry. & Elec., pref. (guar.)(No.4)_
I% Oct.
1 Holders of rec. Sept.21
Brooklyn Rapid Transit (quar.)
134 Oct.
1 Holders of rec. Sept. 9
Capital Traction, Wash., D. C. (guar.)... 1
Oct.
1 Sept. 16 to Sept. 30
Carolina Pow.(.4 Lt:, pref.(quar.)(No.14) 1
1 Holders of rec. Sept.23a
Oct.
Chicago City Ry. (quar.)
234 Sept. 30 Sept. 14 to Sept. 18
Chicago Rys. Participation ett9.. Ser. L. $6
1 Holders of rec. Aug. 2a
Oct.
Cin. & Ham. Trac., corn.(guar.)
1 Sept. 21 to Sept. 30
Oct.
Preferred (guar.)
134 Oct.
1 Sept. 21 to Sept. 30,
Cincinnati Street Ry.(guar.)
Oct.
I Sept. 17 to Sept. 30
11
11
Cleveland Ry. (quar.)
1 Holders of tee, Sept.17a
Oct.
Duluth-Superior Traction, corn. (quar.)_
1 Holders of rec. Sept.20a
134 Oct.
Preferred (quar.)
Oct.
1 Holders of rec.Sept.20a
Frankf. & Southw. Pass., Phila. (quar.). $4.50 Oct.
1 Holders of rec. Sept.14a
Germantown Passenger Ry.(guar.)
8 Sept. 18 to Oct. 7
$ 1 3134 Oct
Halifax Electric Tram., Ltd. (qu.)(No.63) 2
Oct.
1 Sept. 20 to Oct. 1
Houghton County Trac., cont. (No. 7)- - -- 23.4 Oct.
1 Holders of rec. Sept.21a
Preferred (No. 9)
3
Oct.
1 Holders of rec. Sept.21a
Jacksonville Trac., corn. (quar.)(No. 7)
134 Nov. 1 Holders of rec. Oct. 15a
Preferred(guar.) (No. 7)
134 Nov. 1 Holders of rec. Oct. 15a
Kokomo Marion & West. 7'rac., pref.--3
Sept. 30 Sept.21 to Sept.30
Lake Shore Electric Ry., 1st pref. (guar.) 134 Oct.
1 Holders of rec. Sept.20a
Louisville Traction, common (quar.)- - - 1
Oct.
1 Sept. 11 to Sept. 15
Preferred
234 Oct.
1 Sept. 11 to Sept. 15
Manila Electric RR.& Ltg. Corp.,(quar.) 1;4 Oct.
1 Holders of rec. Sept.18a
Metropolitan W.Side Elev., Chic., W.((tu
51 Sept. 31 Sept. 21 to Sept. 30
New Orleans Ry. & Lt., pref.(guar.)
1% Oct.
1 Sept. 20 to Sept. 30
New York Slate Rys., com.(guar.)
1% Oct.
1 'folders of rec. Sept.23a
Preferrel (guar.)
1% Oct.
1 Holders of rec. Sept.23a
Northern Ohio Trac. & Lt., pref.(guar.)_
1% Oct.
1 Holders of rec. Sep. 15a
Ottawa Elec. Ro. (qua,.)
3
Oct.
1 'folders of rec. Sept30a
Pacific Gee &
con.(guar.)(No. 3)_
1 tn Oct. 151I01ders of rem. Sent14a.
TIIE CHRONICLE
SEPT. 21 1912]
Name of Company.
Per
Cent.
Electric and Street Rail ways(Concluded).
1)4
Philadelphia Co., corn.(guar.)(No. 124).
$2
Philadelphia Traction
Porto Rico Rye., Ltd., corn.(guar.)
1)4
Preferred (guar.)
114
Public Service Corp of N. J-.(guar.)_
1
Puget Sourul Trac.,L. de P.,com. (guar.)_
Preferred (guar.)
Republic Ry.& Lt., pref.(guar.)(No.5) _
Ridge Ave. Pass. Ry., Phila. (guar.)
St. Jos. Ry..L.,H.& P.,pf.(qu.) (No. 40)
Sao Paulo Tram., L. & P.(spec.)(No.42)
Second & Third Sts. Pass., Phila.(guar.)
South Side Elev. Ry.,Chic.(guar.)
Terre Haute Ind. dc East. Trac., pref.(qu.)
Tidewater Pow.Co.,Wilmington,N.C.,com
Common (extra)
Toronto Railway (guar.)
Tri-City Ry. & Lt., pref.(guar.)
Twin City Rapid Transit, coin. (guar.)
Preferred (guar.)
United Traction & Electric,Prov.(guar.)
Wash.Ball. cfe Annapolis Elec., pf.(No. 1)
Wash. Water Pow., Spokane (guar.)
West End Street Hy., Boston, common_
Western Ohio Ry., lot pref. (guar.)
Second preferred (guar.)
West India Elec. Co.. Ltd.(qu.)(No. 19)..
Banks.
3
Century (guar.)
Chatham & Phenix National (quar.)-- - - 2
(guar.)
134
National
Iron
&
Coal
2
Commerce, Nat. Bank of, (guar.)
2
First National, Bklyn. (guar.)
4
Hanover National (guar.)
Manufacturers National, Blayn (guar.). _ _ 5
2
Metropolitan (guar.)
3
Mount Morris (guar.) (No. 51)
234
Nassau National, Btlyn (guar.)
3
New Netherland
134
Prospect Park,B.klyn (guar.)
3
Seaboard National (guar.)
Trust Cornpantes
5
Bankers (guar.)
5
Brooklyn (guar.)
5
Columbia-Knickerbocker (guar.)
234
Empire (guar.)
8
Guaranty (guar.)
2
Extra
Lawyers' Tit. Ins.& Tr. (guar.) (No. 56) 3
3
Long Island Loan & Trust, Bklyn.(quar.)_
Mechanics' of N. J. (guar.) (No. 53)_ _ 5
Metropolitan (quay.)(No. 63)
0
Mutual Alliance (guar.)
134
Mutual of Westchester County (guar.) _ _
1M
New York (guar.)
8
Standard (guar.)
4
Title Guarantee dc Trust (guar.)
5
Washington (guar.)
4
Miscellaneous.
Aeolian, Weber Piano de Pianola, pf.(qu. 1 1M
Amer. Agric. Chem., corn.(guar.)(No.4)_
1
154
Preferred (guar.)(No. 29)
American Bank Note, pref.(guar.)
134
Amer. Beet Sugar, pref. (guar.) (No. 53) 134
Amer. Brake Shoe & Fdy.,com.& pf.(qu.) 1M
1M
American Can, preferred (guar.)
14
Amer. Car & Fdy., corn.(qu.)(No. 40)_
1M
Preferred (guar.) (No. 54)
American Cigar, preferred (guar.)
154
14
Amer.Coal Products, corn. (guar.)
33
American Express(guar.)_
Amer. Gas & Elec., corn.(qu.)(No. 10).. 1M
114
Preferred (guar.) (No. 23)
Amer. Iron & Steel Mfg., corn.& pf.(qu.) 1M
134
American Locomotive, preferred (guar.)_
American Manufacturing (guar.)(No.31) 134
1M
American Piano. pref. (guar.)
2
American Pipe & Construction (guar.)._
31.4
Amer. Pneumatic Service, 1st pref
1
Second preferred
M
Amer. Public Utilities, common (quar.). _
154
Preferred (quar.)
American Radiator, common (qUar.).- 2
Amer.P nom & Light, pref.(quar.)(No.12) 114
23-4
American Screw (guar.)
American Shipbuilding, pref.(guar.)- - 1M
Am.Smelters &cur., p1. A (qu.)(No.31) 154
Preferred B (guar.) (No. 30)
134
American Snuff, common (guar.)
3
Common (extra)
1
Preferred (guar.)
I%
American Sugar Henning. com.drpf.(qu.) 1.4
(guar.)
(No. 93)
American Surety
3
2
Amer. Telep & Teleg.(guar.)
American Tobacco, preferred (quar.)___ _
134
1
American Type Founders, corn. (guar.)_ _ _
1M
Preferred (guar.)
2)
(No.
(qu.)
pf.
Guar.,
154
Am. Wat.Wks.&
American Woolen, pref.(guar.)(No.54). 1M
1
American Writing Paper. neeferred
2
Bell Telephone of Canada, Ltd.. (guar.)
1M
Booth Fisheries, preferred (guar.)
6
British-American Tobacco, Ltd
British Columbia Cop., Ltd.(qu.) (No.5) 3
114
Brooklyn Union Gas (guar.)(No. 46)....
1M
Brunstoick-Balke-Collender, pref. ('pear.) Buffalo General Electric (guar.)(N o. 72)..
3
14
Butte Electric & Power,con.(qu.)(No.32)
California Elec. Generating, pref. (guar.) 114
$12
Calumet & Heela Mining (guar.)
2
Cambria Iron
Canadian Cons. Rubber, Ltd.. pref. (guar.) 13.4
Cane.diaa General Elec., Ltd., coin. (qu.) 134
33-4
Preferred
Can. Westinghoule, Ltd.(qu.)(No.31)_
134
4
Case (J. I.) Threshing Mach., pref.(quar.) 13
114
Celluloid Company (guar.)
Central Coal de Coke, corn. (guar.)
134
Preferred (quar.)
Central Leather, preferred (guar.)
14
Central States Elec. Corp., pf.(qu.)(No!) 1M
Chesebrough Manufacturing (guar.)
6
Extra
4
Chic. June. Rye.& U.Stk. Yds.,com.(qu) 2
Preferred (quar,)
15-4
2
Chicago Telephone (quar.)
13
Cities Service, common (monthly)
_(4
Preferred (monthly)
I
Cities Service, common (monthly)
y4
Preferred (monthly)
314
Citizens Gas of Indianapolis(No.6)
1M
City Investing, pref.(guar.)
1)4
Columbus(0.) Gas & Fuel, pref.(quar.).
11.4
Columbus (0.) L.,IL & P.,corn.(guar.) _
114
Preferred (guar.)
Consul. Gas, El. Lt.& P.,13alt.,comAgu.) 114
3
Preferred_ _ _
Consumers Power (Mich.) pref. (guar.). ....114
361
14
Crucible Steel, pref. (qu.) (V's.(cow.)
_
3
1(
Cuban-Amtriesn Slone. pref.
When
Payable.
1
1
1
1
30
15
15
15
Books Closed.
Days Inclusive.
Holders of rec. Oct. 1
Holders of rec. Sept. 17
Holders of rec. Sept. 21
Holders of rec. Sept. 21
to Sep.30
iept. 29
Holders of rec. Oct. 5a
Holders of rec. Oct. 5a
Holders of rec. Sept. 30
Holders of rec. Sept 16
Holders of rec. Sept.14a
Holders of rec. Aug. 31
Holders of rec. Sept. 2a
iept. 21 to Sept. 30
dept. 22 to Oct. 1
Nov.
)ct.
)ct.
Jct.
dept.
Jet.
)ct.
Jct.
Jct.
Jct.
Oct.
Oct.
Sept.
Oct.
Oct.
Oct.
Oct.
Jet.
)ct.
Jct.
Jet.
Oct.
Jet.
Jet.
Jet.
Jet.
Jet.
1
1
1
30
1
1
1
1 Holders of rec. Sept. 16
Holders of rec. Sept. 20
1 Holders of rec. Sept. 16
1 Holders of rec. Sept. 16
1 dept. 15 to Sept. 17
1 Holders of rec. Sept. 24
1 Holders of rec. Sept.15a
1 dept. 22 to Oct. 1
I Holders of rec. Sept.24a
1 Holders of rec. Sept.24a
1 dept. 24 to Oct. 1
Jet.
Jct.
let.
)ct.
)ct.
Jet.
let.
Jet.
Jet.
)ct.
)ct.
Jct.
Jet.
1 dept. 25 to Oct. 1
1 (opt. 21 to Sept.30
1 Holders of rec. Sept. 11
1 3ept. 21 to Oct. 1
1 Holders of rec. Sept. 20
1
1 dept. 21 to Sept. 30
1 dept. 17 to Seot. 30
1 .iept. 21 to Sept. 30
1 dept. 27 to Sept. 30
1 Holders of rec. Sept30a
1 dept. 28 to Sept. 30
1 Holders of rec. Sept.25
Oct.
Jct.
dept.
iept.
dept.
dept.
Jet.
Jet.
Jct.
dept.
Jct.
Jct.
'dept.
dept.
iept.
Oct.
1 Holders of rec. Seot.26a
1 Holders of rec. Sept.20a
30 Holders of rec. Sept23a
30 Holders of rec. Sept. 23
30 Holders of rec. Sept30a
30 Holders of rec. SeP130a
1 iept. 15 to Oct. 1
1 Holders of req. Sept2la
I 3ept. 28 to Oct. 1
30 dept. 21 to Sept. 30
1 dept. 20 to Scot. 30
1 Holders of rec. Sept.30a
30 dept. 22 to Sept. 30
30 Holders of rec. Sept.25a
30 Holders of rec. Sept. 21
1 Holders of rec. Sept. 24
Sept 30 Holders of rec. Sept. 25
Jct. L, Holders of rec. Sept.27a
Jet. 15 Holders of rec. Sept.27a
Oct.
1 dept. 17 to Oct. 1
Jct.
1 Holders of rec. Sept.20a
dept. 30 Holders of rec. Sept.20a
Jet.
1 Holders of rec. Septl7a
1 Holders of rec. Septl2a
Oct.
Jet.
1 Holders of rec. Septl2a
Jet.
1 Holders of rec. Sept.16a
3ct.
1 Holders of rec. Sept.25a
Oct.
1 Holders of rec. Aug.31a
Oct.
1 dept. 21 to Oct. 1
Nov. 1 Jet. 18 to Nov. 1
/et.
1 Holders of rec. Sep.20a
)ct. 21 dept. 22 to Oct. 20
Oct.
1 Holders of rec. Sept. 16
1 Sept. 13 to Oct. 1
Jet.
Jet,
1 Holders of rec. Sept. 14
dept. 30 dept. 6 to Sept 30
dept. 30 dept. 6 to Sept. 30
Jct.
1 dept. 21 to Sept. 30
Jct.
1 Sept. 21 to Sept. 30
dept. 30 Sept. 22 to Sept. 3()
)et.
1 iept. 26 to Sept.30
dept. 30 Holders of rec. Sept.23a
Oct. 15 Holders of rec. Sept.14a
Oct.
1 Sept. 21 to Sept. 29
Oct.
1 Sept. 21 to Sept.29
1 Holders of rec. Septl4a
Oct.
1 Holders of roe. Septl4a
Jct.
1 Holders of rec. Septl4a
Jct.
Jet,
2 Holders of rec. Sept 3a
Sept. 30 dept. 15 to Sept. 30
Oct. 15 Holders of rec. Sept.30a
1 Holders of roe. Septl4a
Oct.
Oct. 15 Holders of rec. Oct.10a
Oct. 15 Holders of rec. Oct.10a
1 dept. 17 to Oct. 1
Oct.
Oct. 15 dept. 24 to Oct. 3
1
dners of rec. Sep.14a
/et.
let. 15 il )(tiers of rec. Sept. 25
1 deot. 15 to Sept. 30
./ct.
dent. 30 See note m
Oct. 15 El Aders of rec. Oct. 1
1 dept. 15 to Sept 30
let.
1 Holders of rec. Sept.21a
let.
(ept. 30 Holders of rec. Sept. 20
1 Holders of rec. Sept.20a
let.
1 Holders of rec. Sept.20a
rot.
dept. 20 Holders of rec. Aug. 22
1 Holders of rec. Septl4a
Jct.
1 Holders of rec. Sept. 21
/et.
1 dept. 16 to Sept. 30
)et.
1 dept. 1(3 to Sept. 30
let.
)ct. 10 )ct. 1 to Oct. 9
1 Holders of roe. Sep. 18
/et.
dept. 30 Holders of rec. Septl6a
/et. 15 Jct. 1 to Oct. 15
)ct. 15 )et. 1 to Oct. 15
1 Holders of rec. Sep.100
Xt.
1 Holders of rec. Sept 10
Oct.
dept. 27 sent. 4 to Sept 27
dept. 27 dept. 4 to Sept.27
1 Holders of rec. Sept.11a
)ct.
1 Holders of rec.Sept.1 la
)ct.
dept. 30 Sept.22 to Sept.30
1 Holders of rec. Oct.15a
Nov.
Nov. 1 Holders of rec. Oct.15a
let.
1 Holders of rec. Sept. 15
/et.
1 Holders of ree. Sept. 15
dept. 28 Sept. 13 to Sept. 28
1 Holders of rec. Sept.26
/et.
Oct.
1 Holders of roe. Sept. 14
)ct.
1 Holders of rec.Sept.16a
Jet.
1 Holders of rec. Sept.16a
let.
1 El dders of rec. Sept. 20
/et.
1 Holders of rec. Sept. 20
)ct.
1 (folders of rec. Sept.20a
1 Holders of rec. Sent.2la
)ct.
let.
1 (1',11e, of roe. Sent.I6a
Name of Company.
727
Per
Cent.
When
Payable.
Books Closed.
Days Inclusive
Miscellaneous (Concluded).
Detroit Edison (guar.)
1;4 Oct. 15 Holders of rec. Sept.30a
Distillers' Securities Corp. (qu.) (No. 40)
34 )ct. 31 (opt 26 to Oct. 16
Distilling Company of America, pref.(qu.)
Oct. 30 dept. 26 to Oct. 16
Dom. Steel Corp., Ltd., corn. (qu.)(No. 6) 1
1 Holders of rec. Sept. 18
Oct.
duPont(E.I.)de Nemours Pow., pf.(qu.)_
134 Oct. 25 Oct. 16 to Oct. 25
du Pont Internat.powder, pref (guar.). 15-4 Oct.
1 Holders of rec. Sept.20a
Preferred (extra)
. 1 Holde
Holders of rec. Sept.20a
1M Oct.et.
Eastern Light & Fuel (guar.)
September 19
2
Eastman Kodak,common (guar.)
1 Holders of rec. Aug.31a
214 Oct.
Common (extra)
Jet.
1 Holders of rec. Aug.31a
10
Preferred (guar.)
Oct.
1 Holders of rec. Aug.31a
Electrical Securities Corp., coin.(guar.)_ _ _
1M dept. 28 Holders of rec. Sept28a
2
Preferred (guar.)
Noy. 1 Oct. 27 to Nov. 13
Electric Storage Battery, corn. & pref.(qu.) 1
1 Holders of rec. Sept. 23
1 4 Oct.
Galena-Signal Oil, common (guar.)
Sept. 30 Sept. 1 to kept. 17
4
Preferred (guar.)
2
dept. 30 Sept. 1 to Sept. 17
General Baking, pref.(No. 3)
1 Holders of rec. Sept. 21
13,4 Oct.
General Chemical, preferred (quar.)
1 Holders of rec. Sept.19a
1% Oct.
General Chemical of Calif., 1st pf (qu.).1 Holders of roe. Sept. 20
13,4 Oct.
General Electric (guar.)_
•
Oct. 15 Holders of rec. Sept.7a
2
Goldfield Consolidated Mines (guar.)30e Oct. 31 Holders of rec. Sep.30a
Goodrich (B. F.) Co., preferred (guar.)_ _
1 Holders of rec. Sep.20a
1M Oct.
Great Lakes Towing, Prof. (guar.)
1 Sept. 17 to Oct. 1
134 Oct.
Guggenheim Exploration (guar.)(No.39) 6214c. Oct.
1 Sept. 14 to Sept.18
Harrison Bros. & Co.. Inc., Prof.(quar.)_
Oct.
1 dept. 26 to Oct. 1
1
Hart, Schaffner & Marx, pref. (quar.)......
134 sept. 30 Holders of rec Sep.20a
Helm (George W.) Co., common (quar.) 234 Oct.
1 Holders of rec. Sept.14a
Preferred (guar.)
1 Holders of rec. Sept.14a
1)4 Oct.
Homestake Mining (monthly)(No.454)_ _ 50e. dept. 25 Sept. 21 to Sept. 25
Indiana Lighting
1
Oct.
1 sent. 21 to Sept 30
Intercontinental Rubber, pref.(quar.)
1)4 Sept. 30 Holders of rec.Sert.20a
Internat. Harvester,corn.(guar.)(No.11) 13,4 Oct. 15 Holders of rec. Sep. 25a
International Nickel, corn. (guar.)
2 • Dee, 2 Nov. 14 to Dec. 2
Preferred (guar.)
14 Nov. 1 Oct. 15 to Nov. 1
International Silver, preferred Omani_ _ _1)4 Oct.
1 Sept. 18 to Oct. 1
Preferred (account accum. dividends)_ _
eq Oct.
1 Sept. 18 to Oct. 1
Preferred (account accum. dividends)_
el
Noy. 15 Nov. 2 to Nov. 15
Intern. Smokeless Pow.dtChem.,com.(411)
1 Holders of rec. Sept.20d
..4 Oct.
ex r )
.
PreferredCo m m n (extra)
let.
1
1 Holders of rec. Sept 20a
4
'JOY. 15 Holders of rec. Nov. 6a
!Malik Gas & Mee., pref.(guar.)(No. 10) 1)4 Oct.
1 Sept. 24 to Sept.30
Kayser (Julius) & Co., common (guar.)._
1
Oct.
1 3ept. 21 to Sept.30
)ct.
1 Holders of rec. Sept. 20
Knickerbocker Ice. pref.(No. 27)
3
I Holders of rec. Sept. 21
Kolb Bakery, perferred (No. 3)
1M Jet.
214 dept. C Sept, 21 to Sept, 0
La Belle Iron Works (guar.)
La Rose Consolidated Wines (guar.)
214 Oct. 21 Oct. 1 to Oct. 17
Lanston Monotype
Sept. 30 Holders of rec. Sept.23
(quar.)
Lawyers Mortgage (quar.) (No. 44)
Oct.
1 Holders of rec. Sept. 23
3
Liggett & Myers Tobacco, pref. (guar.).- 1M Oct.
1 TlotAnr. of rec Sept.16d
Lorillard (P.) common (guar.)
24 Oct.
1 Holden of rec. Sept.14a
-Int,
Preferred (guar.)
I H.inecs of rec. Sept.14a
Loose-Wiles Biscuit, 1st pref. (gu.)(No.2)
1 (ern. 21 to Oct. 1
13,4 Oct.
Second preferred (guar.)(No. 2)
144 Noy. I Oct. 16 to Nov. 1
234 Oct. 15 Holders of rec. Sept. 30
MacAndrews & Forbes, corn. (guar.)
114 Oct. 15 Holders of rec. Sept. 30
Preferred (guar.)
1 Holders of rec. Sep. 1 la
Mackay Companies, corn. ((mu.)(No. 29) 14 Oct.
t.
1 Holders of rec. Sep. lb
1
Preferred (guar.)(No. 35)
Holders of rec.Sept.16a
Manhattan Shirt, pref.(guar.)(No. 1)-- 1:( Oct
1)4 Sept. 3C Holders of rec. Sept. 30
Manning, Maxwell & Moore, Inc
Massachusetts Lighting Cos.(au.)(No.36) 15,4 Oct. 15 Holders of rec. Sep. 15ee
Oct.
1 Holders of rec. Sept.16a
May Department Stores. pref. (nuar.)_
Nov. I Holders of rec. Oct. 14
$I
Massachusetts Gas Cos., corn.(guar.)
24 Sept. 30 Holders of rec. Sept.7a
Morgenthaler Linotype (guar.)
dept. 30 Holders of rec. Sept.7a
Extra
1 Holders of rec. Sept.230
14 'Oct.
Michigan Light, pref. (guar.)
Oct. 15 Holders of ree.Sept.28a
National Biscuit, corn.(guar.)(No.57)..
30
Holders of rec. Sept.10a
sent.
1)4
Stamp.,
pref. (guar.)._
Nat. F.nam. &
1 Sept. 26 to Sept. 30
Nat. Gas. Elec. L. & P.. pref.(guar.)_
14 Oct.
National Lead, corn. (quar.)
Sept, 30 sent. 14 to Sept. 17
National Licorice, Prof.(guar.)(No. 41)- 14 dent. 30 dept. 24 to Sept. 30
'2 Holders of rec. Sept. 21
National Sugar Refining, pref. (quar.).... 114 )et.
1 sept. 21 to Sept. 30
let.
National Surety (quar.)
3
Nevada Consolidated Conner (guar.)
0 dept. 7 to Sept.11
(
_ 373-4c. Sept.
. 3
1
New England Telen. & Teleg.(nuar.).._ _
134
rece..Sseepptir 2a
re
N. Y. Mortgage & Security (guar.)
3
1 [Solders°off
Oct.
510
New York Transit (guar.)
Oct. 15 Holders of rec. Sept. 21
Nine Bay Co., preferred (guar.)
1
Oct. 15 Holders of rec. Sept. 28
5
Oct. 21 Oct. 1 to Oct. 17
Nipissing Mines (guar.)
234 Oct. 21 Oct. 1 to Oct. 17
Extra
I Holders of rec Sent. 16a
14 Oct.
North American Co.(oliar.)(No. 34)_.Oct. 15 Holders of rec. Sept.30a
Otis Elevator, common (quar.)
Oct. 15 Holders of rec. Sept.300
Preferred (nuar.)
1 Holders of rec. Sept. 17
Pettibone, 111ulllken & Co., let & 2d pf.(ou.) 1)4 Oct.
25.4 Sept. 27 Holders of rec. Sept.16a
Phelps, Dodge & Co., Inc. (guar.)
I Sept. 15, to Oct. 1
Pittsburgh Plate Glass, common (guar.). 1M Oct.
sept. 28 Holders of rec. Aug.31a
6
Prairie 011 & Gas (guar.)
Oct. 15
to
2
Oct. IF Sent. 22
Procter & Gamble. wet (Tear.)
Producers 011 (guar.)
15-4 sent 30 Holders of rec Sept. 14
214 Oct. 15 Holders of rec. Oct. la
Quaker Oats, common (quar.)
1 .1 4 Nov. 30 Holders of rec. Nov. he
Preferred (guar.)
31.25 sent. 23 Holders of rec. Aug. 28
Quincy Mining (guar.)
3
Sept. 3C Holders of rec. Sept.16a
Royal Baking Powder,common (guar.)_ _
1 1.4 Sept. 30 Holders of rec. Sept.16a
Preferredm.)
1 dent. 21 to Sept. 30
1)4 Oct.
, pref.(guar.)
C's.,
Ru me tr
2
Oct.
I Holders of rec. Sept.16a
Safety Car Heating & Lighting (guar.)_ _ _
I Holders of rec. Sep.14a
1.4 Oct.
Sears, Roehriek & Co.. preferred (guar.)
1 14 Oct.
Holders of rec. Oct. 7
Shawinigan Water & Power (nuar.)_ _ _ _
I Holders of rec. Sept.17a
Sloss-Sheffield Steel & Iron. pref. (ouar.) 134 Oct.
1
Oct.
I Holders of rec.Sept.14a
South Porto Rico Sugar, corn.(guar.)
2
Oct.
1 Holders of rec.Sept.14a
Preferred (guar.)
Oct.
$5
I Holders of rec. Sept. 16
Southwest Pennsylvania Pipe Lines
30
50e.
4nnt 17
to Sept. 30
Cent.
Spring Valley Wale( (guar.)
Oct.
1 Holders of me. Septl2a
Subway Realty (guar.)
to Sept.30
ent 17
1,
1)4 Oct.
Sulzberger & Sons, preferred (guar.)_ _
7 Holders of rec. Sept. 14
134 Oct
Swift & Co.(guar.) (No. 104)
14 Sept. 30 Holders of rec. Sept.14a
Texas Company (guar.)
Oct. Id Holders of rec. Sept.20a
Underwood Typewriter, common (quar.) I
1)4 Oct. Id Holders of rec. Sept.20a
Preferred (qmar.)
Oct. 15 Holders of rec. Sept30a
Union Bag & Paper, pref.(guar.) (No.54) 1
214 Oct.
I Sent. 21 to Sept. 30
Union Carbide (guar.)
Oct. 1.() Holders of rec. Oct. 1
Union Switch & Signal, corn. dr of.(quar.) 3
15‘ Oct.
1 Holders of rec. Sept.20
Union Typewriter, let pref. (guar.)
2
Oct.
1 Holders of rec. Sept.20
Second preferred (guar.)
2
Oct. 15 Holders of me Sept.14a
United Fruit (oiler.) (No. 53)
1 Holders of rec. Sept. 12
United Gas & Electric Corp., nreferred_ _ (n) Oct.
Oct. 15 Holders of rec. Sept. 30
$1
United Gas Imnrovement (guar.)
common (guar.) 50e. Oct.
8 Holders of rec. Sept. 17
UnitedSlroe
17
3714e
Oct.
5 Holders of rec. Sept. 17
Preferred (quar.)
1,
4 ')ct.
1 Sept. 21 to Oct. 1
U.S. Prinlina of N.J.ern.(quar.)
1 7-1f Oct..I Sept. 20 to Oct. 1
U.S.Printing or Ohio (quar.)
I 4 Sept. 28 sent. 1 to Sept. 8
U. S. Steel Corp.. corn. (guar.)
Oct. 1
1M let.
1 Sept.22 to
United Utilities, pref. (guar.) (No. 7)
75c. Sept. 30 Sept. 7 to Sept. 11
Utah Copper (guar.) (No. 17)
I Holders of rec. Sept20a
1.4 /et.
Utah Gas & Coke, pref.(guar.)
Oct. 31 Holders of rec. Oct. 15
3
Vacuum Oil
8 Oct. 2,3 Holders of rec. Sept. 30
Warner (Chao.)Co. of Del., lst&24 pf.(gu) 1 4
Western Union Teleg. (guar.)(No. 174): 2M Oct. lb opt.21 to Oct. 9
-Oct. 15 Holders of rec. Sept. 19
Westinghouse Air Brake (guar.)
2
Oct. 15 Holders of rec. Sept. 19
Extra
Oct. 31' Holders of rec. Sept. 30
1
Westinghouse Elec. & Mfg.. corn.(guar.)_ _
1)4 Oct. 15 Holeers of rec.Sept.30a
Preferred (guar.)
24 Oct.
1 Holders of tee.Sept 14a
Weyman-Bruton Co.,common (quar.)-Oct.
1 Holders of rec.Sept.14a
Preferred (guar.)
1)4
74,
3)
(No.
Oct.
(rmar.)
nref.
1 Holders of rec. SeptlOa
W.),
Woolworth (F.
sent. 30 Sept. 14 to Sept 30
Yukon Gold Co. (guar.) (No. 13)
a Transfer books not closed for this div dend. b Lees income tax. d Correction.
m Transfers received in London not later
e On account of accumulated dividends.
than Sept. 18 will be in time for navment of dividend. n At rate 01 6% per annum
1912.
30
Sept.
to
6
June
from
period
for
Auction Sales.-Amorig other securities, the following, not
usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
Per cent.
Shares.
53 Continental Cot. Oil Co., pt. 24
63(ontinental Cot.Oil Co.,com. 3
350 Brander Cotton Mills Corp.
$8,000
(Concord, N. C.)
300 Armstrong Cork Co., common rights
57c. per sh.
85 Zucker&Levett&LoebCo
89 Conn. Dynamo & M.Co__ )$25 lot
$1,215 Notes of Conn. D.&M.Co.J
Per cent.
Shares. •
440%
13 National City Bank
120 Mfrs. Commercial Co.,comj86,705
149 Mfrs. Commercial Co., pf_f
_ - $1,035
13 Mfrs. Commercial Co. pf.
Per cent.
Bonds.
$10,000 Waldorf Mg. & Mill. Co.
$1,000 lot
1st ser. A, 8s
$4,000 fd Ave. RR. 1st cons. 54,
40
1948 (ctf. dm)
By Messrs. Francis Henshaw & Co., Boston:
$ per sh.
Shares.
$ per sh. .shares.
4 Campridge Elec. Securities Co_ _301
20 Narragansett Mills (Fall River). 122
3 Springfield Gas-L. Co. rights__ 994
50
6 Suncook Valley RR. Co
i5 Lov.ell Elec. Lt. Corp. rights__ _ 51e
10 Concord & Mont. RR., class 4,
137 J4 24 Merrin ack Mfg. Co., common-- 40%
ex-dividend
By Messrs. R. L. Day & Co., Boston:
Per cent.
$ per sh. Bonds.
Shares.
$2,000 Schenectady Ry. Co. let
176
2 State National Bank
103%
'
4%s, 1941
824
4 Central Vermont Ry
15 Haverhill Electric Co. rights_ .16-163-i 3500 Gulf Beaumont & K. C. Ry.
99%
1st Os, 1913
5 Springfield Gas-L. Co. rights__ _ 924
310,000 Bos. & Me. RR.3%s,1923 9124
By Messrs. Barnes & Lofland, Philadelphia:
$ per all.
Shares.
410
10 Northern Trust Co
415
20 Girard National Bank
9124
12 Fassett Lumber Co
2 West Phila. Title & Tr. Co.
133
($50 each)
10 Nat. Bark of, Germantown
140
($50 each)
10 Pennsy. Co.for Ins., &c., &c_ _651
5 Manufacturers' Nat. Bank--131%
4 Nat. Bank of Nor. Liberties__ _250
7 Finance Co.of Pa., 1st pf _ _115%416
20 Guar. Tr. Co. (Atlan. City)_ _225
2 Mutual Tr. Co. ($50 each)____ 44
10 Phila. Trust S. D. & I. Co_ _ --736
13 Delaware Ins.Co. ($10 each)... 1124
250
3 Id & 3d Streets Pus Ry
126
2 Continental Pass. Ry
15 Easton Consol. Elec. Co., com_ 18
25 Riverside Trac. Co.,common._ 15
13 John B. Stetson Co., common_460
100 Amer. Pine & Construe. Co_87-8724
103
3 J. G. Brill Co., pref
115
12 American Meter Co
$ per all.
..,hares.
50 Phila. Life Ins. Co.($10 each)_ 1024
8 Phila. Bourse, corn. ($50 each) 424
10 Federal Health & Accident Co.
15
($10 each)
Per cent.
Bonds.
$1,000 Buff. & Lake E. Trac. Co.
68
1st ref. 5s, 1936
$1,100 Springfield Wat.Co.Is, 1926 90
$1,000 Nor.Spring.Wat.Co.58,1928 99
$35.000 Amer. Union Teleph. Co.
$1,075 lot
1st 5s, 1957
$15,000 Consol. Teleph. Cos. of Pa.
$3,050 lot
1st 5s, 1931
$7,000 United Tel. & Tel. Co. 1st
$600 lot
, 5E3,1031
$1,000 Cumberland Val.Teleph. Co.
18
1st 5s, 1932
$1,000 Leavenworth Light, Heat &
93
Power Co. 1st Is. 1923
$1,000 Decatur Ry. & Lt. Co. 1st
5s, 1933
9424
81,000 York Haven Water &Power
80
Co. 1st 5s, 1951
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Per cent.
Shares.
$ per sh. Thnds.
$1,000 Snringt. Wat. Co. 5s, 1926_ 99
10 Federal Health & Accident Co.
892
$1.000 Philadelphia 35, 1930
15
($10 each)
$500 Nor. Spring. Wat. Co.Is, 1928 99
Statement of New York City Clearing-House Banks and
Trust Companies.-The detailed statement below shows the
condition of the New York City Clearing-House members
for the weet ending Sept. 14. The figures for the separate
banks are the averages of the daily results. In the case of
the totals, ac ual figures at the end of the week are also given.
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in all cases.
Banks
00s omitted.
[VoL. Lxxxxv.
THE CHRONICLE
728
Capital. Surplus.
Loans.
Average.
Specie. Legal:. Net Depos- ReAverage. Average. its, Aver. serve.
DETAILED RETURNS OF TRUST COMPANIES.
Trust Cos.
00s omitted.
On Dep.
Net
Surplus. Loans. Specie. Legais withe.11 Deposits. Reserve
Average. Iverage iveragc Banks. Average.
$
Brooklyn ____ 2,432,1
15,672,9
Bankers
CT .S.Mtg.&Tr. 4,567,4
1,279,1
kstor
fide Guar.&T. 12,095,4
92,671,4
3uaranty
Fidelity
1,303,4
LawyersT.L&T 6,273,6
3olum.-Knick. 7,079,8
Randard
1,389,0
People's
1,710,0
11,682,5
New York
1,326,3
Franklin
557,1
Lincoln
SIetropolitan_ 6,111,5
571,0
Broadway _ ._ _
rotals, Avge
$
18,461,0
155,236,1
48,928,1
20,388,0
33,919,0
161,476,0
7,726,0
19,534,0
48,609,0
14,996,0
17,760,0
42,708,0
10,447,0
11,065,0
24,304,0
8,674,0
$
$
$
$
%
753,0 1,419,0 14,265,0 15.6+ 8.8
1,475,0
31.0 13,010,0 116,357,0 15.4+10.0
17,956.0
620,0 4,891,0 36,244,0 15.0+11.6
4,818,0
20,0 1,648,0 15,245,0 13.8+ 9.2
2,088.0
1,697,0 1,499,0 2,532,0 21,1930 15.0+10.5
933,0 15,257,0 115,152,0 15.0+11.6
16,340,0
789,0 6,177,0 15.7+10.6
231,0
740,0
1,230,0 1,014,0 1,624,0 14,847,0 15.0+ 9.8
830,0 4,544,0 40,216,0 15.0+10.0
5,201,0
14,0 1,657,0 13,552,0 15.5+10.8
2,001,1
438,0 1,884,0 15,603,0 14.8+10.5
1,881,1)
235,1 3,252,0 29,604,0 15.3+ 9.8
4,321,0
351,0 1,075,0 10,098,0 15.5+ 0.5
1,215,0
225,0 1,099,0 10,346,0 15.2+ 9.8
1,357,0
2,525,0
9,0 1,328,0 16,826,0 15.0+12.1
989,0 8,583,0 15.4+10.0
988,0
335,0
96,723,6 644,231,0 05,966,0 7,538,0 57,998,0 184,308,0 15.1+10.6
k.ctual figures Sept. 14 540,257,0 05,434,0 7,444,0 57,712,0 181,980,0 15.1+10.6
The capital of the trust conipan es Is as I Rows: Brooklyn, $1,000,000: Bankers,
$10,000,000; United States Mortgage & Tr) at, $2,000,000; Astor, $1.250,000: Title
Guarantee & Trust, $4,375,000' Guaranty. $5.000,000; Fidelity, $1,000,000;
Lawyers' Title Insurance & Trust,$4,000.000: Columbia-Knickerbocker, $2,000,000;
Standard, $1,000,000: People's, $1.000,000; New York. $3,000,000: Franklin,
$1.000,000; Lincoln, $1,000,000; Metropolitan, $2.000,000: Broadway, $1,000,000
total, $40,625,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
ending
Capital. Surplus.
Sept. 14
Loans.
Specie.
on Dep.
Net
Legal rilh C.11
Tenders. Banks. Deposits.
$
$
Averages
$
,572,0 267,518,0 75,436,0
1,368,560,0
Banks
133,650,0 199,809,0 1,363
Trust cos_ 40,625,0 96,723,6 644.231,0 65,966,0 7,538,0 57,998,0 484,308,0
Total _ _ 174,275,0296,533,5 2,010,803,0 333,484,0 82,974,0 57,998,0 1,852,868,0
Actual
1,354,321,0
1,354,497,0 265,771,0 75,848,0
Banks
Trust cos_
640,257,0 65,434,0 7,444,0 57,721,0 481,980,0
1,094,754,0331,205,0 83,292,0 57,712,0 1,836,301,0 '
Total
The State Banking Department also furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
For definitions and rules under which the various items
are made up, see "Chronicle," V. 86, P. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended September 14.
Capital as of June 14_ _ _
Surplus as of June 14._ _ _
Loans and investments__
Change from last week_
State Banks
in
Greater N. Y
S.
22,525,000
,
38,702,400
Trust Cos.
Trust Cos.
Stale Banks
in
outside of
outside of
treater N. F. Greater N. F. Greater N. Y
$
62,275,000
$
9,323,000
a
9,750,000
170,654.900
12,233,100
12,377,200
295,411,200 1,173,550,900
+857,300 -13,139,300
111,395,300
+223,100
170,933,200
+323,600
Specie
52,796,500 125,132,200
$
Change from last week_ -1,201,200
-283,80C
762,0 18,931,C 25.6
Bank of N. Y. 2,000,0 3,842,0 21,164,0 4,095,0
Manhattan Co. 2,050,0 4,685,0 34.350,0 8,122,0 1,445,0 38,700,0 24.7 Legal tender & bk. notes_
11,320,300
20,479,100
2,000,0 1,990,0 20,252,0 4,286,0 1,088,0 20,651,0 26.0
Merchants_ _ _
Change from last week_
-396,500
+373,80(
6,000,0 8,640,5 57,239,0 11,703,0 1,600,0 54,874,0 24.2
Mech. & Met_
1,500,0 6,324,7 24,207,0 4.022,0 1,933,0 23,534,0 25.3 Deposits
America
339,20,50( 1,256,655,200 118,146,300 177,471,600
25,000,0 29,540,7 188,207,0 35,557.0 6,740,0 178,098,0 23.7
City
Change from last week_
-896,801 -22,719,500
+936,200
-23,400
3,000,0 7,134,2 28,925,0 4,215,0 2,268,0 25,685,0 25.2
Chemical
125,0
1,666,0
7,027,0
7,201,0 24.8 Reserve on deposits
515,9
600,0
Merchants'Ex.
22,813,200
23,765,100
90,129,800 144,515,500
306,0
57,0
1,927,0 23.1
2,148,0
127,1
300,0
Butch. & Drov
-660,200
+707,000
Change from last week_ -1,924,30f -1,576,900
160,0
9,244,0 25.0
8,236,0 2,154,0
944,0
500,0
Greenwich __ _
974,0 :19,337,0 25,7 P.C. reserve to deposits_
5,000,0 4,766,2 41,075,0 9,137,0
Am. Exch._
21.4%
13.9%
27.59'
16.3%
Commerce_ - _ _ 25,000,0 16,15.7,5 137,487,0 18,534,0 10,173,0 114,137,0 25.1
14.3%
28.0%
29.1%
Percentage last week
16.3%
4,304,0 23.3
558,0
448,0
946,2
4,704,0
500,0
Pacific
18,501,0 25.0
2,250,0 1,243,0 18,225,0 2,972,0 1,652,0
Chat. & Phen_
+ Increase over last week. - Decrease from last week
142,0
2,083,0 24.1
362,0
2,166,0
200,0
470,7
People's
3,000.0 13,471,8 73,509,0 15,049,0 6,072,0 81,706,0 25.8
Hanover _ _
Note.-"Surplus" Includes all undivided profits. "Reserve on deposits" includes
626,0 21,611,0 25.6 for both trust companies and State banks, not only cash items but amounts due
22,810.0 4,918,0
2,550,0 2,139,1
Citizen's Cent_
485,0 10,770,0 1,978,0 1,171,0 12,329,0 25.5 from reserve ageots. Trust companies In New York State are required by law to
1,000,0
Nassau
9,436,0 25.6 keep a reserve proportionate to their deposits, the ratio varying according to lo1,260,0 1,161,0
9,440.0
1,000,0 1,871,3
Market & Fult
251,0 14,769,0 25.4 cation as shown below. The percentage of reserve required is computed on the
2,000,0 1,684,0 13,920.0 3,512,0
Metropolitan _
3,000,0 5,689,8 49,168,0 8,566,0 5,457,0 57,505,0 24.3 aggregate of deposits, exclusive of moneys held in trust and not payable within
Corn Exch_ _
26,115,0 4,119,0 2,185,0 23,844,0 26.4 thirty days, and also exclusive of time deposits not payable within thirty days,
Imp .&Traders 1,500,0 7,661,1
86,798,0 21,463,0 1,763,0 90,740,0 25.5 .represented by certificates, and also exclusive of deposits secured by bonds or
5,000,0 13,313,1
Park
68,1
1,552,0
123,0
1,498,0 23.3 obligations of the State or Citv of New York. and exclusive of an amount equal to
250,0
226,0
East River
34,140,0 7,552.0 1,900,0 35,684,0 26.4 the market value (not exceeding par) of bonds or obligations of the State or City
5,000,0 5,821,:
Fourth
162,0 13,521,0 25.3 of New York owned by the bank or held in trust for it by any public department.
1,000.0 2,469,0 14,053.0 3,260,0
Second
10,000,0 21,582,3 109,513,0 20,038.0 4,100,0 98,011,0 24.6 The State banks are likewise required to keep a reserve varying according to locaFirst
4,000,0 3,131,7 37,719,0 7,192,0 2,703,0 39,110,1) 23.2 tion, the reserve being computed on the whole amount of deposits exclusive of time
Irving
3,426,0
840,0
3.616,0 25.6 deposits not payable within thirty days. represented by certificate/1 (according
795.2
86,0
250,0
Bowery
740,0
8,484,0 26.1 to the amendment of 1910), and exclusive of deposits secured (according to amend8,314,0 1,480,0
500,0 1,836,0
N. Y. County.
750.0
4,133,0
236,0
3,861,0 25.5 ment of 1911) by bonds or obligations of the City or State of New York, and ex750,0
726,5
German -Amer
5,000,0 9,359,0 90,821,0 20,911,0 5,188,0 101,6q5,C 25.6 clusive of an amount equal to the market value (not exceeding par) of bonds or
Chase
13,158.0 2,603,0 1,149,0 15,000S 25.6 obligations of the State or City of New York owned by the company or held in trust
100,0 2,214,1
Fifth Avenue_
570,0
358,0
3,608,0
3,6.4,1 25.6 for it by any public department.
838,1
200,0
German Exch.
1,354,0
254,0
5,647,0
6,531,0 24.6
200,0 1,044,2
Germania
-Trust Cos.- -State Banks822,0
16,258.0 3,243,0
16,757,0 24.2 Reserve Required for Trutt Companies
1,000,0
Lincoln
Total
Of
Of
Total
1,765.0
277,1
8,942,1
8.780,0 23.2
1,000,0 1,270,0
Garfield
Reserve which Reserve
which
and State Banks.
586,0
317.0
3,424,0
524,5
3,647,0 24.7
250,0
Fifth
LocationRequired.in Cash. Required. in Cash
924,0 1,806.0 11,108,0 24.5
11,612,0
1,000,0 2,161,1
Metropolis
15%
15%
25%
15%
082,0
255,0
4,220.0
200.0 1,006,-,
4,837,0 25.5 Manhattan Borough
West Side....
10%
20%
10%
26,250,0 5,551,0 2,558,0 31,098,0 26.0 Brooklyn Borough (without branches in Manhat.) 15%
1,000.0 2,226,1
Seaboard
10%
15%
73(%
22,500,0 4,819.0 1,183,0 24,265.0 24.7 Other Boroughs(without branches in Manhattan) 15%
1,000,0 2,725,1
Liberty
Brooklyn
branches
with
in
Borough,
Manhattan_
_15%
15%
22
(
j,
0
2,322,0
441,0 10,905,0 25.3
9,218,0
833,0
1,000,0
N. Y. Prod.Ex
15%
15%
1
361,0 21,623,0 25.0 Other Boroughs, with branches in Manhattan
743,1
16,666,0 5,065,0
1,000,0
State
___
10%
5%
905,0 14,218s 25.0 Cities of the first and secono class
10,622.1' ^,644.0
418;
Security
1,000.0
3%
1,082,0
529,0
10%
6,435,0 25.0 Cities of the third class and villages
6.321,0
Coal & Iron... 1,000,0
507.3
i z7;
d iif,"
360,0
8,843.0 24.5 Elsewhere in State
8,901.0 1.812,0
967,2
Union Exch.. 1,000,0
1,323,0
260,0
6,272.0 25.2
Nassau, Bklyn
7,522.0
1,000,0 1,119,9
moo,
Totals, avge_ _ 133,650,0 199,809,9 1366,572,0 267,518,0 75,436,0 1368,560,0 25.0
Actual figures Sept. 14
1354,497,0 265,771,0 75,848,0 1354,321,0 25.2
CircutatIon.-On the basis of averages, circulation of nati ,nal banks in the Clearing
House amounted to $46,088,000, and according to actual figures was $46,272,000.
The Banking Department also undertakes to present separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the. Clearing-
THE CHRONICLE
SEPT. 21 1912]
729
House banks and trust companies. In addition, we have
Boston and Philadelphia Clearing-Rouse Members.-Becombined each corresponding item in the two statements; low is a summary of the weekly totals of the Clearing-House
thus affording an aggregate for the whole of the banks and institutions of Boston and Philadelphia:
trust companies in the Greater New York.
We omit two ciphers(00)in all thesefigures.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Capital
and
Loans.
Surplus.
Banks.
Week ended Sept. 14-
Clear -House clear.-House State Banks & Tctal of all
Members. Trust ('Os. Not Itanks&Trust
Members.
Average. in C.-H. Aver. Cos. Average
4etuatFigure,
$
Capital 3Nat. banksl
Sept. 4 and3
Surplus State banks!
June 14_
I
174,275,000
174,275,000
28,725,000
,203,000,000
296,533,50(
296,533,500
81,105,900
377,639,400
Loans and InvestmentF 1,944,754,00; !,010,803,000
Change from last week -27,435,00, -23,249,000
003,136,000 2,618,939,000
-2,316,100 -25,565,100
Deposits
1,836,301,001 1,852,868,000
Change from last week -36,423.000 -35,969,000
a614,691,400 2,467,559,400
-272,800 -36,241,800
Specie
Change from last week
331,205,00(
-6,432,000
333,484,000
-9,704,000
66,653,800
+1,880,700
400,137,800
-7,823,300
Legal-tenders
Change from last week
83,292,00(
-776,00(
82,974,000
-356,000
58,447,300
-83,500
91,421,300
-439,500
Banks: cash in vault..
Ratio to deposits_ _ _ _
341,619,00(
25.22%
342,954,000
25.03%
12,129,800
13.89%
355,083,800
Trust cos.: cash in vault
72,878,00:
73,504,000
62,971,300
136,475,300
Aggr'te money holdingF
Change from last week
414,497,001
-7,208,00(
416,458,003
-10,060,000
75,101,100
+1,797,200
491,559,100
-8,262,800
Money on deposit with
other bks. & trust cos.
Change from last week
57,712,000
+456,01h,
57,998,000
-158,000
17,203,600
--1,157,800
75,207,600
-1,315,800
474,456,000
472,209,000
-6,752,00( -10,218,000
92,310,700
+639,401
.566,766,700
-0,578,600
Total reserve
Change from last weel;
Surplus CASH reserveBanks (above 25%)...
Trust cos.(above15%)
3,038,750
581,00,
814,000
857,800
Total
Change from last week
3,619,75,
+868,65,
1,671,800
--2,219,150
80,623,2 388,722,0
80,623,2 390,932,0
80,623,2 391,606,0
80,623,2 389,940,0
80,623,2 391,213,0
80.623,2 392,338,0
80,623,2 393,222,0
80,623,2 393,833,0
15.38%
1.17%
25.81%
25.86%
16.55%
The averages of the New York City Clearing-House banks
and trust companies, combined with those for the State banks
and trust companies in Greater New York outside of the
Clearing House, compare as follows for a series of weeks past:
8,257,0 153,939.0
7,850,0 153,511,9
7,854,0 144,791,3
7,856,0 149,693,7
7,853,0 138,659,1
7,775,0 122,823,9
7,713,0 142,439,2
7,607,0 153,961,9
98,771,0 t 431,132,0 15,021,0 136,091,3
98,771,0 t 435,021,0 15,034,0 150,947,7
97,256,0 t 431,014,0 15,054,0 139,955,5
97,837,0 t 433,602,0 15,090,0 143,986,4
97,074,0 t 428,637,0 15,120,0 127,995,6
97,285.0 t 430,884,0 15,116,0 128,051,0
97,245,0 t 435,122,0 15,123,0 133,852,8
92,946,0 t 430,976,0 15,147,0 143,211,3
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Sept. 14; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For week.
1912.
1911.
$3,335,201
12,317,261
Total 37 weeks
+ Increase over last week. -Decrease from last week.
a These are the deposits after elIninating the item "Due from reserve depositaries
and other banks and trust companies in New York City"; with this item included,
deposits amounted to $674540,400,a decrease of $8,662,100 from last week. In the
case of the Clearing-House members, the deposits are "legal net deposits" both for
the average and the actual figures. 0 Includes bank notes.
Circu- Clearings
lation.
a Includes Government deposits and the item "due to other banks." At Boston
Government deposits amounted to $854,000 on Sept. 14, against $864,000 on Sept. 7.
t "Deposits" now includes the item of "Exchanges for Clearing House," which
waa not previously embraced in the total. "Exchanges for Clearing House" were
reported on Sept. 14 as $11,969,000.
Total
Since January 1.
Dry Goods
General Merchandise
15.17%
10.69%
Specie. Legals Deposits
a
$
41,575,0 243,740,0 25,405.0 5,509,0 275,508,0
41,575,0 239,007.0 24,095,0 5,498,0 272,149,0
41,575,0 238.710,0 24,322,0 3,265,0 270,640,0
41,575,0 240,247,0 24,172,0 5,328,0 274,065,0
41,575,0 240,070,0 24,030,0 5,251,0 270,787,0
41,575.0 241,101,0 24,010,0 5,410,0 267,320,0
11,575,0 241,070,0 23,623,0 5,074,0 271,202,0
41,575,0 239,631,0 24,393,0 5.212,0 273,178,0
Dry Goods
General Merchandise
% of cash reserves of tr ;1st cos15.12%
Cash in vault
10.69%
Cash on dep. with bks.
Total
Boston,
July 27
Aug
3
Aug. 10
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14
Philadelphia.
July 27
Aug. 3
Aug. 10
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14
$3,055,415
14,957,270
1910.
1909.
$3,357,539
12,579,364
$3,246,179
14,281,003
$15,652,462 $17,912,685 $15,936,903 $17,527,182
$105,157,894 $99,814,534 $112,964,926 $121,476,944
606,322,920 515,173,142 548,021,953 488,486,497
$711,480,814 $614,987,676 $660,986,879 $609,963,441
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. 14 and from Jan. 1 to date:
EXPORTS FROM NEW YORK.
1912.
1911.
1910.
1009.
For the week
Previously reported
$16,643,824 $16,823,768 314,182,125 $11,026,442
566,183,248 529515,168 455,290,483 421,844,658
Total 37 weeks
$582,827,072 $516,738,930 $469,472,008 8432,871,100
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK
The following table shows the exports and imports of
specie at the port of New York for the week ending Sept.14
and since Jan. 1 1912 and for the corresponding periods in
1911 and 1910:
We omit two ciphers in all thesefigures.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Week
Ended
July 13__
July 20_
July 27_
Aug. 3_ _
Aug. 10__
Aug. 17_
Aug. 24__
Aug. 31_
Sept. 7_
Sept. 14..
Loans and
Iagestments
2,691,376,4
2,661,002,7
2,658,577,7
2,653596,4
2,649,899,1
2,651,628,2
2,650,979,4
2,651,253,5
2,644,504,1
2,618.939,0
Deposit-n.
Specie.
2,551,294,3
2,535,238,1
2,533,714,8
2,531,377.0
2.523,862.0
2,532.11)5,2
2,533,156,4
2,523,586,7
2,503,801,2
2,467,019 4
413,382,5
420,706,3
424,715,6
426,240;0
428,136,2
430,507,2
427,920,0
417,008,1
407,961,1
100 137,8
95.210,1
97,547,0
97,255,9
96,637,5
94,811,9
94,054,6
92,738,6
02,651,8
91,860,8
91,4 1,3
508,592,1
518,253,3
521,971,6
522,877,5
522,948,1
524,561,8
520,658,6
509,650,9
499,821;9
491 559.1
590,000,1
(304,634,5
612,935,5
614.220,7
611,448,1
615,325,4
603,858,1
590,236,8
576,345,3
5(36,766,7
Reports of Clearing Non-Member Banks.-The following is
the statement of condition of the clearing non-member banks
for the week ending Sept. 14, based on average daily results:
We omit tw rioters 0)0) in all thesefigures.
Loans,
Banks
Cap!.
Cap
tat.
SurNut
aod
Investments.
Specie.
New York City.
Manhattan and Bronx.
Aetna National
514.9 3,345,0 699,0
500,0
Washington Heights_ 100.0
327,9 1,532,0 154,0
Battery Park Nat- _ 200,0
115,1 1,654,0 333,0
Century
500,0
530,0 6,084,0 515,0
Colonial
400,0
637,6 6,011,0 743,0
Columbia
300,0
805,4 6,403,0 567,0
Fidelity
200,0
47,0
160,9 1,072,0
Mount Morris
250,0
342.. 2,640,0 449,0
Mutual
200,0
411.1 4,298,0 475,0
New Netherland
200,0
281, 2,763,0 274,0
Twenty-third Ward_
200,0
100,0 2,027,0 241,0
Yorkville
100,0
518,8 4,492,0 596,0
Brooklyn.
300,0
672,3 3,821,0 297,0
First National
252,0
Manufacturers' Nat
910,2 6,050,0 616,0
1,000,0
Mechanics
710.7 11,404,0 1,379,0
300,0
578,5 4,272,0 472,0
National City
200,0
170,4 2,374,0 184,0
North Side
Jersey City.
400,0 1,335,0 5,178,0 301,0
First National
798,4 3,726,0 193,0
Hudson County Nat_ 250,0
200,0
417.9 2,070,0
Third National
86,0
Ifoboken.
649,0 4,154,0 207,0
220,0
First National
275,7 3,039,0 181,0
125,0
Second National
Exports.
Tot. Monet, Entire Res.
Holdings. on Deposit,
Loafs.
Legal
On
Terrier Deposit
and
with
Net
Bank
Deposits.
Notes. Banks.
Imports.
Gold.
Week.
Great Britain
Fr nee
Germany
West Indies
Mexico
South America
All other countries
Since Jan.1
11>eek
220,146,622
15
3100 2,697,375
119,500
503
$120,100 $32,636,348
50,200 3,11)4,741
20C 44,723,053
Total 1912
Total 1911
Total 1910
Silver.
Great
.
France •
Germany
West Indies
Mexico
South America
All other countries
Total 1912
Total 1911
Total 1910
87,434
328,783
77,170
40,628
9,738,853
53,483
S391,272
2,012,516
2,569
231,004
10,344,169
2,292,609
1,142,689
$460,015 $16,416,728
81,521 10,792,373
79,045 20,122,397
5976,207 $34,173,089
176,031 4,921,233
100
Since Alai
82,621
25,349
706,990
$1,152,358 539,909,282
820,680 35,435,561
545.322 31,281,669
8434
299
30,457
39,643
,
$3,329
6,862
20,853
37,654
3,235,135
2,292,203
1,168,893
870,833 $6,764,929
169,053 5,314,009
87,095 3,446,122
Of the above imports for the week in 1912, 34,655 were
American gold coin and $185 American silver coin.
61,0
80,0
59,0
406,0
412,0
511,0
124,6
44,0
339,0
95,0
112,0
239,0
89,0
217,0
117,0
662,0
970,0
598,0
103,0
314,0
540,0
217,0
235,0
710,0
3,071,0
1,282,0
1,717,0
5,889,0
6,209,0
6,990,0
1,015,0
2,960,0
4,648,0
2,518,0
2,221,0
4,986,0
119,0
464,0 2,997,0
271,0
829,0 15,638,0
750,0 1,419,0 13,707,0
757,0 4,234,0
104,0
104,0
225,0 2,362,0
339,0 1,262,0
101,0
632,0
144,0
415.0
Aaniting and financial,.
Railroad and Industrial Stocks
Write for our Circular No. 814 entitled "Railroad and Industrial
Stocks," -which describes 124 issues listed on the New York Stock
Exchange, and classified by us as follows: Investment Stocks, SemiInvestment Stooks, Speculative Stocks.
Spencer Trask & Co.
43 EXCHANGE PLACE-NEW YORK.
Chicago, Ill. Boston, Mass. Albany, N. Y.
Members New York Stock Exchange,
4,183,0
2,081,0
1,393,0
White, Weld & Co.
343,0 1,785,0
234,0 1,237,0
-Bonds and Investment Securities.
Totals Sept. 14_
6,597,0 11,200,4 88,469,0 9,009,0 4,526,0 11,352,0 83,123,0
Totals Sept. 7--- 1,597,0 11,219,7 87,476,0 8,862,0 4,008,0 11,503,0 81,399,0
THE ROOKERY
111 DEVONSHIRE STREET
Totals Aug. 3l.. 3,597,0 11,219,7 86,062,0 8,854,0 4,145,0 11,386,0 79,988,0 14 WALL STREET
70,0
42,0
NEW YORK
CHICAGO
BOSTON
THE CHRONICLE
730
[VOL., Lxxxxv.
Over 23/ millions, par value, were traded in on Wednesday.
The active list is about one point higher than last week.
United States Bonds.—Sales of Government bonds at the
Wall Street, Friday Night, Sept. 20, 1912.
Board include $4,000 Panama 3s, coup.,at 101%, $3,000 3s,
The Money Market and Financial Situation.—There seems coup., at 102 %. The following are the daily closing quoto be less likelihood, than last week, of near-by stringency in tations; for yearly range see third page following.
the money market and a more cheerful tone and broader acInterest Sept. Sept. Sept. Sept. Sept. Sept.
tivity at the Stock Exchange have resulted. The announce20
19
18
17
16
14
Periods
ment on Monday of an engagement of $750,000 gold in
.101 *101
101
,
.101
*101
*101
Q—Jan
the
as
registered
2
regarded
3,
1930
was
country
London for shipment to this
cower. Q—Jan *101 .101 *101 .101 .101 .101
1930
beginning of a movement which might materially supple- 3s,
registered Q—Feb .1023% .1023% .1023% *1023% *1023% *102%
s, 1908-18
needed.
if
moving
3
coupon Q—Feb .1023% 102% .1023% *1023% *102% .102%
3,
crop
for
1908-18
funds
of
supply
ment our own
registered CI—Feb *1133% .113% .1133', *11334 .113% *1135',
1925
The latter possibility has led to a free discussion by both 443,, 1925
coupon Q—Feb *113M .11334 '1133% '1133% .11334 *1133%
*100% *100% *1003
% *1003% *100%
Treasury officials and local bankers of the matter of further 3, 1936_Panaina Canal regis Q—Feb *1003% .101%
.101% .101% *101% .101%
Government deposits in commercial banks. There seems 33, 1961_Panarna Canal coup Q—Mch 101%
to be no doubt that such an arrangement could be made if
* This is the price bid at the morning board: no sale was made.
necessary. From these or other causes the advance in call
Railroad and Miscellaneous Stocks.—The stock market
loan rates, which was a prominent feature of last week's has been more active than for some time past and last week's
market, has, for the moment at least, ceased. At Berlin also tendency to weakness has been reversed. On Tuesday the
conditions are easier arid the Bank of England reports a market had, indeed, a decided inclination to buoyancy and a
slight increase in its percentage of reserve. Otherwise the sharp
advance was then made in a considerable number of
general financial situation is practically unchanged.
At the Stock Exchange there has been a larger volume of issues.
As for some time past,the miscellaneous list was prominent
business than of late and prices for both bonds and stocks and some of the industrial stocks were leaders of the upward
have advanced. At the same time interest in the political movement. On Wednesday the tendency was reactionary,
situation seems to be waning. Discussion of the matter in but only a few stocks responded and prices have, in many
financial circles has largely ceased and more attention is cases, held well up to the highest of the week.
paid to the evidences of increasing general business and
The market to-day was more active than on any day since
other direct results of the enormous crops which are, except May 16, and an advance averaging about a point was rein the case of corn and cotton, now secured.
corded. As a result of the week's operations American Can
The open market rates for call loans at the Stock Exchange preferred is 65 points higher, the common 532, Reading 43,
%
during the week on stock and bond collaterals have ranged and Canadian
Pacific, Great Northern, Northern Pacific,
from 43'@53%. To-day's rates on call were• 43'@5%. Union Pacific and Lehigh Valley are between 3 and 4 points
Commercial paper quoted nominally at 53% for 60 to higher.
90-day endorsements and 53'% for prime 4 to 6 months'
For daily volume of business see page 740.
single names and 6% for good single names.
The following sales have occurred this week of shares not
The Lank of England weekly staternent on Thursday represented
in our detailed list on the pages which follow:
showed a decrease in bullion of £536,666 and the percentage
Range since Jan. 1.
of reserve to liabilities was 50.64, against 50.34 last week.
Range for Week.
Sales
STOCKS.
The rate of discount remains unchanged at 4%, as fixed Week ending Sept. 20. for
Highest.
Lowest.
Highest.
Lowest.
Week.
Aug. 29. The Bank of France shows an increase of 71,000
Jan
25', June 8
10( 45', Sept lt 43% Sent It
Allis-Chalmers, pref____
francs gold and a decrease of 3,675,000 francs silver.
)_13atif1ttre
(AI; azettto
NEW YORK CLEARING-HOUSE BANKS.
(Not including Trust (Jompanies.)
1912.
Ave ages for
week ending
Sept. 14.
Differences
from
previous week.
1911.
Averages for
week ending
Sept. N.
1910.
Averages for
week ending
Sept. 17.
3
$
$
$
132,350,000
135,150,0
133,650,000
Capital
196,199,000 193,297,900
199,809,901
Surplus
Loans and:discount& _ _ 1,366,572,00( Dec. 16,047,000 1,354,988,000 1,273,861,100
45,191,300
49,470,000
171,000
46,088,00( [nc.
Circulation
1,368,560,00C Jec. 24,455,001 1,383,624,000 1,282,365,100
Net deposits]
267,518,00C Jec. 7,716,001 290,361,000 275,525,500
Specie
68,528,800
434,001
73,197,000
75,436,001 dec.
Legal tenders
Reserve held
25% of deposits
Surplus reserve
342,954,00( Dec. 8,150,000
342,140,001 Dec. 6,113,750
368,558,00(
345,906,001
344,054,300
320,591,275
814,000 Dec. 2,036,250
22,652,000
23,463,025
Note.—The Clearing House now issues a statement weekly, show ng the actual
condition of the banks on Saturday morning, as well as the above averages. The
figures, together with the returns of the separate banks and trust companies, 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.—Sterling exchange gradually declined
during the week and closed exceedingly dull, apparently
awaiting definite information whether the Treasury Department is to come to the relief of the money situation on this
side.
To-day's (Friday's) nominal rates for sterling exchange were 4 83 for
60-clay and 4 863% for sight. To-day's actual rates for sterling exchange
were 4 822004 8230 for 60 days, 4 854504 8555 for cheques and 4 85900
4 86 for cables. Commercial on banks 4 80 %04 82 and documents for
payment 4 81 %04 823%. Cotton for payment 4 81 Si ©4 813% and grain
for payment 4 82%4 823%.
The posted rates for sterling as quoted by a representative house, were
not changed from 4 83% for 60 days until Thursday, when a reduction to
4 83 was announced. The sight rate remains unchanged from 4 863%, which
was the closing figure a week ago.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 23 M
® 5 23 M plus 1-16 for long and 5 20% less 1-32 ® 5 203% for short. Germany bankers' marks were 94 3-16®94 M for long and 94 15-16 less 1-32
Exchange at Paris on London, 25f. 28 Mo.; week's range, 251. 29 No.
high and 25f. 280. low. Exchange at Berlin on London, 20m. 45 %pf.;
week's range, 20m. 45 %pr. high and 20m. 44 %pf. low. The range for
foreign exchange for the week follows:
Cables.
Cheques.
Sixty Bails.
Sterling Actual—
485854 8835
High for the week_ __4 8205
4 8590
4 8545
Low for the week_ _4 8220
Paris Bankers' Francs—
High for the week_ _ _5 223% less 1-16 5 20% plus 1-32 5 20
Low for the week_ _ _5 23% less 1-16 5 203% less 1-16 5 20 less 1-16
Germany Bankers' Marks—
953%
95 plus 1-3::
High for the week_ __ 943%
95
94 N
Low for the week_ __ 94 3-16
Amsterdam Bankers' Guilders—
40 5-16
403% plus 1-32
High or the week.. __40
40 3-16 plus 1-16 403% plus 1-10
Low for the week_ _40 less 1-10
Domestic Exchange.—Chleago, 10o. per 51,000 discount. Boston, par.
St. Louis, 15o. per $1,000 discount bid and 5. discount asked. New Orleans, commercial. 50o. per $1,000 discount, and bank, $1 premium. San
Francisco, 600. per $1,000 premium. Savannah, buying, 3-160. discount,
and selling, 'par. St. Paul, 15o. per $1,000 discount. Montreal, par.
Charleston, buying, par; selling, 1-10% premium. Cincinnati, par.
State and Railroad Bonds.—Sales of State bonds at the
Board include 82,000 N. Y. Canal 4s, 1960, at 10034; $62,000
N. Y. Canal 4s, 1961 at 1003' to 100%; $46,000 N. Y.
Canal 4s, 1962 at 100%; $4,000 New York 4s, 1961 at 1003
4;
$25,000 New York 4s, 1962, at 100% and $99,000 Virginia
Os deferred trust receipts at 53% to 579.
The market for railway and industrial bonds has been
relatively active and prices have been well maintained.
%
% Sept 1E, 1 Sept 14
800
Corn ells dep 1st pd...
Pre Ws dep 1st pd__
100 43% Sept 17 45', Sept 17 43',
Am Brake Shoe & Fdy-.
100 993% Sept 11 093% Sept 11 913%
200 150 Sept 11 152 Sept lt 130
Preferred
80 197 Sept It :00 Sept 14 196
American Express
5%
100 El% Sept lt 51% Sept 10
Batopilas Mining
100 8 Sept 11 8 Sept 11 8
Brunswick Terminal...
350 .39 Sept 2( 403% Sept 1; 39
Colorado & Southern
500 74 Sept 11 74% Sept li 633%
Detroit United
100 9954 Sept 11 995', Sept 11 903%
E I du Pont Powd, pref.
3 13% Sept 1( 13% Sept 14 103%
Green Bay & W deb B._
100 96% Sept lt 963% Sept lt 96
Havana El Ry L & P pi
100 433% Sept It 433% Sept 11 29
Lackawanna Steel
100 85 Sept 10 85 Sept 11 85
N Y C & St L 2d pref.__
200 45% Sept 16 463% Sept 2C 453%
Norfolk Southern
1
1 m Sept 11
101
13', Sept It
Ontario Silver Mining..
100 101% Sept It 1013% Sept lt 983%
Pacific Tel & Tel pref..
400 (013% Sept 1. 102 Sept 14 101
Pittsburgh Steel pref.__
50 98 Sept 2( 98 Sept 20 90
Sloss-Sheffield S & I pre!
450 983% Sent 2G 993', Sept lt 97
United Dry Goods
115105% Sept 20 1053% Sept 20 103%
Preferred
1%
100 13', Sept 1, 154 Sept 14
U S Red & Refg
4•
100 5 Sept 11 5 Sept IL
Preferred
1,600 65 Sept 14 67 Sept 18 54
Virginia Iron Coal SE C
100 773% Sept 20 773% Sept 20 75
West Maryland pref _ _ _
100116% Sept 20 1163% Sept 20 112
Weyman-Bruton pref
Sept 2%
June 6
Jan 993%
Jan 152
Aug 225
Melt 52%
Jan 113',
June 45
Jan 743%
Jan 093%
Feb 15
Aug 963%
Mch 46
Sept 90
Sept 55
Feb 3%
July 101%
Fet 104%
Feb 105
Feb 102%
Feb 108%
Mch 33.',
Aug 10%
Mch 90
Jan 81
Bich 116%
May
May
Sept
Sept
Apr
Apr
May
Feb
July
Sept
Aug
Sept
Aug
Jan
May
May
Sept
Aug
Apr
July
July
May
Apr
Jan
Apr
Sept
Outside Market.—Trading in the outside market this
week, with one or two exceptions, was quiet, price movements being of little moment. Decided strength and activity
developed in United Cigar Stores corn. the upward move'point yet reached.
ment carrying the price to the highest
After moving irregularly between 99% and 10134, it jumped
to 1043' and to-day to 10634, the close being at 106. The preferred inproved from 119 to 119%. British-Amer. Tobacco
%,recovered to 249,and ends the week
% to 233
sank from 245
at 243. Emerson-Brantingham corn. was traded in between
4 and 78 and at 78 finally. The preferred fluctuated be773
8. Inter% and 103, with the close to-day at 1023/
tween 1023
continental Rubber corn, appeared, moving up from 12%
4 to 71, reacted
to 13. Manhattan Shirt corn. rose from 693
to 683' and closed to-day at 69. The preferred lost 1%
points to 101 and advanced subsequently to 101%. Pennsylvania Textile went up from 223 to 27%, the final figure
4. Pettibone-Mulliken corn. improved
to-day being 273
over a point to 35, fell to 34 and moved upward again, rest4. Standard Oil of N. J. gained 5 points
ing finally at 343
to 410. Standard Oil of N. Y. dropped about 10 points
to 550, then advanced to 572, receding subsequently to 565.
U. S. Motor issues developed a firmer tone, the corn. advancing from 1 to 2% and closing to-day at 2. The preferred
4 to 7% and rested finally at 7. Bonds were
sold up from 33
slightly more active. Braden Copper 6s rose from 149 to
153, the 7s gaining 3 points to 153 and reacting to 151.
% to 96%
Bklyn. Rap. Tran. 5% notes sold up from 965
and Chic. Elev. 5s up from 9734 to 98, down to 97% and
at 9734 at the close to-day. N. Y. City 43s of 1960 moved
down from 10034 to 100 1-16, the 43s of 1962 advancing
from 100 to 100 3-16. Copper shares were quiet. Braden
Copper eased off from 7 to 634 and sold up to 73(. British
Columbia weakened from 53% to 534 and recovered finally
to 53. Giroux moved up from 538 to 53 and back to 534.
Greene-Cananea was off from 934 to 93, but recovered to
4 to 1334 arid eased
9Y1 • Mason Valley improved from 123
off to 13. United Copper corn. lost a point to 2.
Outside quotations will be found on page 740.
731
New York Stock Exchange-Stock Record, Daily, Weekly arid Yearly
OCCUPYING TWO PAGES
For record of sales during the week of stocks usually inactive. see preceding page.
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
Sept. 14
Monday
Sept. 16
Tuesday
Sept. 17
Wednesday
Sept. 18
7'hursday
Sept. 19.
Friday
Sept. 20.
ataies 01
the
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January. 1.
On basis or 10O-slzare lots
Lowest.
Range ror Previous
Year 1911.
Lowest.
Highest.
Highest,
Railroads
D
16,600 A tehTo
10778 10852 10838 10834 10838 1085; 10858 109
& Santa Fe 10314 Feb 1 11012 Aug 14 0978 Sep • 11658 J'ne
10758 10734 10758 108
pref
102 102 410173 10233 10238 1021; 10238 10211 1,040 La10138 Jan 2 10414 Feb 10 10034 Jan 10512..16e .
*10178 10232 10178 102
*14034 14134 014012 142
14112 1411:
14112 142 0141 143 0141 142
300 Atlantic Coast Line 1314_ 13313 Jan 10 14812 Aug 12 117 Jan 13014 Nov
lurre&
0312 Sep 10914 J'15'
r10114 Feb 1 11178 Apr 36
prerOhlo
*10614 10634 10612 10612 10634 10714 10714 1071; 10738 10711 10758 1085f 5,000 kaitp
8512 Aug -01 Jan
87 *8512 8712 187
*85
87
20'
*85
8(313 Aug 13 91 Jan 23
87
1
871;
92 §87
*85
72 Sep
8458 J'ly
8958 9013 897 9033 9014 9053 9014 9016 9014 903. 9,300 Brooklyn Rapid Transit. 7634 Jan 2 0412 J'ly 2
*8912 90
22613 Mch 4 283 Aug 11 19558 Jan 247 J'ir ,
2738 27414 274 27418 27518 27714 277 27712 27514 27614 27612 2771: 28,300
(
'a
enitrda.11"l
of 1 a
Aug
ecwift_Jersey _
Jan
*360 380 *360 380 0360 380 4360 380 *360 380 •-360 380
3014
7034 8014 8013 8034 8058 807
8034 803., 8034 811, 10,10C Chesapeake & Ohio
11 30314 Ifirg
80
80
11:33 I 3E34 Feb
*18
1/ Sep
1814 18 - 1813 1773 18
18
17
fs
2514 J'ne
1718 171; 1713 1734 2,800 ChDlcoGotrtevf esttr uosttctfs_
1638 J'ly 12 2012 A*)r 8
*33
trust
371: *33
3713 3312 3334 3118 32
3512 Dec
2,100
4914 Feb
3118 Sep 113 3912 Apr 8
3214 3278 33
32
*10618 107
10678 107
10658 1075; 10714 10754 107 1073.• 10734 1081; 13,490 Chicago MIlw & St Paul.. 903s J'ly 13 11234 Apr 6 10534 Oct 13313 Feb
*141 1421; 4141 1421: 14212 1421: 0141 14212 0141 1421; :141 1421; 1,
140 J'ly lo 146 Jan 2 141 Sep 15512 Feb,
_10(
aggreectNorth Western 13412 J'ly 12 145 Apr 26 13818 Sep 15012 J'ne
139 139 0138 140
140 140
140 140 4139 140
140 1403,
15( Chj
)
ico
10(
Do prof
*185 190
190 190 0180 195 *181 191 *181 191' .,181 191
190 May 4 198 Met126 191 Nov $209 Jan •
37 Apr 18
134 Sep
500 Chic tin Trao Ws stmpd
*214 258 *214 25
113 Feb 16
338 Feb .
*2
258
2/2 21:
212 21;
258 258
Do pref °Hs stmpd___
434 Sep
*6
4 Mch 21 1014 Apr lb
0
*6
714 Feb
*6
9
*6
9
*512 9
9
*512 9
Cleve
D CpirnerChio do St L___ 6412 Mch28 6212 Apr 23
4813 Sep
*5158 58 *5168 58 *5158 58
*5158 58 *5158 58 65158 58
66 Jan 1
§9578 Feb 24 10112 Apr 171 9414 J'ly
98 Feb
*98 10134 *98 10134 *98 10134 *98 10134 *98 10134 *98 10134
& Hudson
166 J'ly 8 17513 Feb 1i 15012 Sep 17478 J'ne
*167 170 *16712 1711: 016712 17111 168 168
169 160
16978 16971
400
-A- elasvare Lack & West_ 530 Aug 23 569 Jan 29
100'
505 Sep 670 Nol
*520 560 *520 560 550 550 0520 560 4520 560 0520 545
Denver & Rio Grande___
1812 J'ly 12 24 Aich27
35 Feb
1753 Dec
*21
22 *21
2212 *2014 22 *21
22 *21
22 *21
22
100Do pref
3414 J'ne 19 4614 Jan 24
74 Feb
3634 Dec
39 *37
39
38 *35 38 *35
38
*35
38
38 *35
1553 Molt
9 Nov
1t1IpS
1014
8 Sep 0 111,4 May16
100 1:6111
reof Shore & Atlan
D0
1014 *9
1014 *9
10
1014 *9
1014 10
*9
*9
1512
Sep
9 23 May15
1718 Dec
1712 171: *1612 18
3013 Mel
1734 *16
100
18
*1612 18
*16
18 *16
3014 Jan 16 3918 Apr 11
3838 J'ly
2714 Jan
3658 37
3658
8 367:
541
3553 36
3534 3638 3618 37
3653 3712 32.835
543
541
6114 J'ly
4558 Jan
5353 5312 5418 54
5018 Feb 3 577_ Apr 11
5,800 -IrleDo 1st preferred
6278 5278 53
5412 55
Do 2d preferred
40 Feb 3 48 Apr 11
4412 *4334 441; 4412 445f
35 Jan
4418 4418 *44
4312 4312 437 44
1,100 ...
4934 313
., •
126 Jan 15 14334 Aug lc 119 Sep 140 J'ne
13734 13814 13818 13852 13813 13034 13958 1406: 14014 1403- 14053 14114 19,790 Great Northern pref
Ir0
00
nOc
reo
eptrroalcortles
36 Jan 31 4712 Aug 15
4614 4613 461; 13
3354 Dec
45.34 4614 46
6334 Feb
46
*45
4612
700 1IHis
014 1467
458 46
303:
2 4,30
12978 130
12058 May 6 14113 Jan 43 132 Jan 147 J'ly
130 130
12812 1281: 012813 130
*12712 129
1318 Sep
2038 Feo .
2038 203,- 13,700 A nterboro-Metrop v t Ms 1653 Jan 3 22 J'ly 2
1958 195:: 1934 2018 1934 2018 2018 2033 2014 205,
6335338 Jan 8 62 Mob 26
31134 Sep
pref
5633 J'ly
5912 0031. 5934 6034 6014 607$ . 6014 607, 6012' 61
5834 59
Irr ins
271: 2714 275, 2758 273, 2738 273
271: *27
Ciet Southern
2213 May2:1 2914 Mch 21,
0Pr
2514 Sep
600
3738 J'ne
° -6'`•aas
2712 2772 16°
1,3
Do
61
6112 613. 62
621E *61
13112 611; 61
56 MaY291 6558 Mch 25
6112 Sep
preferred
6934 J'ne
62
900
62
62
.
f
LiakD
o oErpir
151; *13
151: *13
151: *13
1113 Jan 26 18 Any 24
*13
eefdo
1511 *1313 151: *1312 151;
orrlo
Vdestern_
10 Set)
17 . Nov
38 *35
38 *35
38 *35
*35
38 *35
30 Jan 81 40
ay21
25 Sep
40 Jae ;
38 *35
38
1604 16814 16714 169
16634 167
16834 16934 169 1601;
,300 Lehigh Valley
15578 Feb 6 18634 Jan 15 151 Sep 186% Dee •
162
162 16234 16253 163
16112
16178 1627 16212 163
14978 Feb 1 170 Aug 1. 13612 SeP 16034 Nov
5,100 Louisville do Nashville
70
34 42
169
6234 16
*133 135 *13112 134 4131 134
13158 1315E 13214 13214 513113 1311;
420 Manhattan Elevated
13158 Sep 18 13834 Mel'13 13114 Sep 14212 Jan, .
Inneapolis & St Louis 1813 J'ly 24 2712 Jan 23
2378 2378 2334 2334 2334 2334 24
2418 *2334 2414 2414 2514
4212 Sep '
2112 Apr
1:1,
5
4F
5
,
Do preferred
50 *4712 50 *4712 50 *4713 50
*47
50 *47
140 Feb 26 857 Jan 15
6812 Sep
35 Itch
4912 51
9,30e, Minn St P & S S Marie
14934 15114 15113 15312 15213 153 514914 150
14912 150
150 150
129 Feb 3 15112 Aug 12 g12434 Sep 18214 Alch
600
Do preferred
*155 157 *152 157
14714 Feb 1 158 Aug 10 145 Nov 160 Alcli
156 1561: 15612 15613 *156 157 515312 15414
29
2558 J'ly 13 3158 Mch 29
2813 29
2812 2812 *28
28% 2914 29
27 Sep
2914 2914 2934 4,50C Mo Kansas & Texas
.3813 J13,41
5738 hlay21) 66 Apr 17
Do preferred
*6258 64 *6212 64 *6258 64
(3313 6313 *63
6.234 Sep
10 Oct ;
100
64 *6312 64
35 J'ly 12 4734 Mch 27
4118 4134 4112 41% 4112 4214 42
4214 4178 4214 4218 4238 45,700 Missouri Pacific
3314 Sep
63 rel6 '
60 Aug
*6334 66 *6334 67 *63
*6418 6634 *6334 6512 *6334 67
7238 Jan 1
65 _ _ _-__ Vat Rys of Alex 1st pref 63 May17 71 Jan 4
*2914 30 *2912 30 *29
II Do 2d preferred__ 28 Apr 1 3673 Jan 20
215% Aug 3838 Fe
30 *2913 30 *29
2952 *29
30
114 114
11334 11438, 4,1
5,020 N Y Central & Hudson__ 10614 Jan 0 12113 Apr 25 z9973 Sep 11512 Fe
11
37
33
514 11514 11513 11514 11553,511413 115
43
18 11
*136 137
136 1361E
Y N II & Hartford__ 134 J'ne 18 14214 Apr 1 12078 Sep 15113 Fe
13634 13634 *136 137
N
13678 1367
°°i N Y Ontario & Western_ 2973 J'ne 29 4138 Apr 12
3658 3658 37
37
3734 Sep
3678 3678 3612 3612 *3614 3672 3613 3612
4078 J'iy i
8001
90
911: *90 91 *90 91
90 *90
01
200 N Y State Railways.... 8078 J'ne 1 93-34 Apr 26
91
9013 9012
9934.A0
e '11114 No;
11558 11558 11578 11613 11658 11718 117 11714 11678 11718 11658 117
12,600 Norfolk & Westernord.._ 210754 Feb 1 11914 Aug 12
*87
§8918 8918 *87
90
Do adjustment
88 J'ne 12 92 Feb 17
8918
8554 Apr
82 *8812 8918
- *87
20
9114 J'ae.:
6712 67
3912 Jan
*66
6714 *67
5554 Nov .1
6712 0-- -- 6712
200 Nor Ohio Trao & Light_ 56 Mchli 6734 Aug 27
671: ;Ili -6712 *65
12578 126
11538 Jan 15 13112 Aug 14 11034 Sep 13778 J'nj.,
12578 12613 12612 12812 12734 12834 128 12834 12834 12934 32,650 Northern Pacific
2
12334 1237 12334 12378 12378 12414 124 1243 124 12418 12418 12438 10,319 Pennsylvania
May
11834 Sep 18013 Feb ,
2212 iap 9 12614
109 10913 109 11014 10934 11014 10934 110
an 2 11114 Aug 14
901 Sep 100 Jan !
2,650 Pittsb Cin Chic do St L.__ alJ8
10912 10912 410914 110
*112 117 *112 117 *112 117 *112 117 010914 117 *110 117
Do preferred
10813 Jan 2 117 Feb 20 13
04
318 s
Sep
n 11
6 78 .7
Fen
,
b.
167 16758 166 16758 16612 16912 16834 17014 16834 16084 16914 17214 385,600 Reading
14818 Jan 11 17914 Apr 29
99
8912 *87
00 *87
90 *87
302 3602
*87
90 *87
1st preferred
8712
200
83
J'ne27
Apr
Melt
92 J'ly :
29
9314
99
99 *95
99 *9512 99 *95
*93 99 *93 99 *95
2d preferred
94 Jan 11 10112 Apr 29
10C
9012 Sep 101 May
* 26
2612 26
2612 2614 2738 2678 2738 2678 2712 2753 2814 36,730 Rock Island Company
2212 May31 3012 Apr 8
2234 Sep
3438 J'n6
*5114 5214 5113 5113. 5134 5314 5213 53
5234 5358 5314 5458 15,350
Do preferred
4714 J'ly 16 6958 Apr 9
4334 Dec
6858 J'n4 •
.
_
2234 2414 *2313 2412 2334 24
• 2134 22
2418 208
OM St Loul3 & San Fran..
2012 Sep.6 '2912 Mch26
23 Dec
27 Oct
*6212 65
*6212 -65-- *6212 66 *6212 65 *6212 65
Do
3alevtrtenic.
6414 6.114
110
erfregied....
. 61 May10 6912 Jan 23 69 Sep 6014 J'Ily
*35
3612 *36
3514 3512 3513 36
876
11?
3612 *3513 3614 3614 3614
3313 J'ly 21 4334 Apr 11
37 Sep
491,, fly'
36
3614 363(3 3655 3614 3614 3614 3634 31334 3718 3714 377
3,400 St Ouls Southwestern
2934 Jan 22 3773 Sep 20
24 Jan
84 - Feb ,
7714 7714 7718 78
78
7812 *7734 7834 7838 7812 7834 79
1,950
68l Jan 17 79 Sep 20
Do preferred
5934 Jan
72 J'ne,,
2312 2313 2334 2314 2312 23
*23
23 *22
22 Sep 12 2712 Apr 4
2234 2234 2312 2,200 Seaboard Air Lille
6.
*50
501: 4912 5012 50
5012 50
5012 4934 50
5612
preferred
10
Do
Sep
4912
J'ne
7
5114
50
9,000
10958 109% 10978 11013 11018 11114 11012 11118 11073 110% 11034 11134 12,100 Sopthern Pacific
10512 Feb 1 11512 Apr 8 10412 Sep 12638 J'ne
Co
, 3058 31
31. 3114 3118 3158 3114 3158 31
3114 313 22,625 Southern v tr Ws strripd. 2612 Jan 31 3158 Sep 17
2434 Sep
338 J'ly '
. 8338 8.312 8378 8434 8434 858 8512 85% 8558 3134
Do pref
8534 8533 86
16,075
7514 J'ly
6814 Feb 4 86 Sep 201 6114 Jan
do .
*2314 24 *2313 2334 2334 24
2312 24
2013 Jan 3 2614 Apr 21978 Dec
2418 2414 2438 2434 3,825
3014 Feb
, 35
351: *35
36
36
363E 36 3678 36
3612 3634 3672 3,200
•1 r
31 Nov 41 Dec
35 Sep 14 4934 Jan 9
*414 43
*414 434 *434 6
412 411
414
414
700 Toledo Railways .5c Lt.__
434 6
4 Nov
3 Jan 15 1058 Apr 113
814 Jan
*1158 1252 *1158 12 *1158 13 *1158 13 *1168 13
300 Toledo St L & Western._ 12 Sep 11 1638 Mch27
12 Dec
1214 127
,
2434 Feb ,
*2812 2912 §29
29
29
31 *2812 3134 *2812 3134 80
Do pre:erred
910
537 Jah-'
28 J'ne 7 36 Apr 8
3012
Dec
348
*10814 109 *107 10714 10758 11118 10912 111
10834 1091: 5100 109
1,750 Twin City Rapid Transit_ 1041k Jan 6 11118 Sep 17 104 Sep 111 Feb
16812 16878 16814 16914 16834 171
17033 17133 17038 17118 17034 1721l124,150 I I nion Pacific,
160 Feb 1 17553 Apr 9 15312 Sep 19238
:
8914 *8878 8912 89 891: 8912 8912 *89
6878 so 12 9358 Feb 1489 Sep
8912 8912 8912 1,005 ‘-' Do preferred
96 J'IF
27 1
J'ly8914
32
32 *3012 32
32
32
32 3234 32
32
2812 Sep
3214 3234 1,250 Unit Rys Inv't of San Fr 28 J'ly 11 3714 Feb
49 Feb ;
*5912 60 *5913 601: 60
611, *6013 6112 6078 6134 2,000
6011 60
Do preferred
57 J'1y 18 6512 Feb 14
62 Sep
7614 Mcl)
• *414 438
438 438
438 44
48 46
438 438
900 W abash
38 412
934 Mayll
634 Dec
1838 Feb :
334 J'ne 19
1413 1458 1452 *1414 1412 1412 1412 1,100 T Y
1414 141: *14
1423 143
D
1238 J'ne 27 2278 Apr
1414 Dec
4038 Feb .
*5614 5712 5512 5614 5514 551: 5512 5534 *5514 5612 • 5534 5612 3,100 Western Maryland Ry
'I
6514 Sep 17 6414 Alch25
Apr
48
7
8
J'Iy,
66
613
*6
613
61: *6
613 *534 612 *6
*534 614 *6
Wheeling & Lake Eine__
914 Mcb 13
212 Sep
4 Jan 10
614 Feb
. *20
23 *20
2212 *21
23 *20
23 *2112 2212 *2112 2212
Do 1st preferred
11 Jan 3 2578 Apr 181
7 Sep
1758 Feb
1013
*912
11
*913
*10
116
1012
*912
.
*912 .1012
912 912
100
Do 2d preferred
6 Jan 19 14 Mch 13
3 Aug
8 Feb •
59 *5612 57
*5413 69 *54
58
59 *5712 60
59
59
800 Wisconsin Central
48 Feb 5 6213 Aug12
48 Sep
7218 may
Industrial&Miscellaneous
*197 202 *197 202 4197 197 *197 202 *197 202 *197 202
20 Adams Express
191 Alch12 21713 Apr 18 4108 Nov 4245 Apr
8612 8678 8612 871s 8634 88
8763 8811 8773 8838 88
8914 113,900 13-malgamated Copper.. 60 Feb 1 8914 Sep 20
4434 Sep
7158 rnob
. *5814 59
5838 159
5712 5813: 58
59
5814 5814 5834 5934 2,850 Amer Agricultural Chem.. 5713 Sep 16 6353 Mcb'21
4434 Sep
6312 De0 '
*10012 102 *10012 102 010012 103 *10012 102 *10012 102 *10012 102
Do pref
98
J'ly
.Mch20
10414
Oct 105' Dec
17
9912
. 7434 74% 7413 75
75
7512 7512 7612 7534 77
7534 7614 34,610 American Beet Sugar
53
Feb
26
Sep
77
lb
3914 Jan
5934 Oct
, *9812 9934 *9812 9034 99 99 *0712 0934 *98
9934 *96
Do
pref
100
9912
0212
97 Apr 3 10114 J'ne 19
101 Oct '
4114 4214 4153 4234 4214 45
3912 3971, 3973 415
4414 4534 165,480 American Can
1114 Feb 1 • 4534 Sep '20
1212 May
878 Jan
11934 11034 11034 12131 512012 12034 12078 1211: 12134 12614 124 126
Do pref
9,300
9058
Feb
1 12614 Sep 1.9
77 Jan
9318 Dec
*59
6012 60
60
5934 6014 60
6012 6014 6014 6014 61
1,900 American Car & Foundry 49 Feb 5 62 Atig28
4238 Sep
5834 J'ly
*11712 120 *11714 11914 *11758 110 *11733 1185 11312 1181: 11812 11812
Do pref
200
115 Feb 14 120 May24 113 Oct 120 May
*3034 3134 *3034 3138 *3034 311, *31
311: 3114 3114 *3114 3134
.
100 American Cities
31 Aug22 31 J'ly •
7714 7714 7753 7713 7712 7713 *76
77
77
*7612 77
7712 1,550
Do preferred
7514 Aug 6 8313 J'ne21.
5818 5738 58
*5514 5614 56
5738 58
67
5733 5714 5714 8,150 American Cotton Oil
4512Jan19 5833 Sep. 6
4158
Nov
6233
Feb
*9712 10212 *9712 1021i *9712 10018 98 98 *9712 10018 *9712 101
Do pret
100
95 Jan 19 9014 Feb 13
92 Nov 10512 Feb
6 618 6 6
534 614
512 512
61g 614 2.900 American Hide & Leather
*514 534
3 Feb 19
611 May16
312 Sep
5 J'ne
28
2812 2834 3058 2934 3058 *2912 30
28
28
30
3138 4,800
Do pref
20 Feb 26 3138 Sep 20
18 Sep
2838 J'ne'
*23
24
24 *23
24
2438 524
23
2358 2358 2353 24
1,100 American Ice Securities_ 18 Jan 2 3034 May20
113 Aug 2534 J'ly
14
14
*1334 141: 1334 14
1414 1452 1412 1514 15
1515 5,300 American Linseed
9 Mch 6 1778 Apr 23
8 Aug
12e3 Feb
*3634 373
3712 3712 38
38
3812 3914 3914 40
8913 3912 3,450
Do prof
30 Feb 20 43 Apr 23
2613 Oct
3412 Dec
43
43
4213 4312 4358 4414 4334 4414 §4312 4312 4412 4412 2,810 American Locomotive... 3134 Feb 27 4634 Aug17
6218 Oct
4314 May
*109 110 *108 1091: 10918 10918 10912 10913 *10812 10934 *10714 10814
300
Do pref
103 Jan 15 11012 Aug 14 102 Oct 11034 Mch
17
*1514 17
17
1718 *15
*15
17
1718 *15
17
1778 1,300 American Malt Corp
1918 Aug 5
434 Jan 10
3 Seri
53s Jan
*67
68
673
67
6714 6734 667 68
6712 6712 6734 68
1,675
Do pref
42 Jan 6 6914 Aug 14
3112 Mch 435 J'ly
Y
VI
nelaware
E
frgi?,? A Pacific
Jan
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Banks
New York
Aetna
America 6_
Amer Exch.
Battery Pk_
Bowery$__
BronxBoro$
Bronx Nat.
Bryant Pir 6
Butch & Dr
ilentury 6_
Ohase
ma
Ask
1114 Ask
Banks
Chat&Phenix 175 182
202 212 cheisea Exi 150
610 630 Chemical _ 445 450
240 245 Citizens' Cu 1421; ..
125 130 City
1430 14443-4
400
___ Coal & Iron 155 160
300
.._ Colonial ¶- 425
170 1-8-0 Columbia 6. 335 S4-5-156155 Commerce.12031: 12071E
140 Corn Ex 6... 1325
130
.._
230 235 East River_ 88
.
___. Fidelity I
675
165 1-7-5 -
Banks
Bid Ask
Banks
Fifth Avel 4300
-. . Harriman__
elith
300 325- Imp & Trad
Virst
1000 1020 frvIng
Fourth --- 200 203 Liberty__
Gartield --- 275 290 Lincoln__
Genn-Am 6 140
_ Manhattan
Germ'n Ex¶ 425 4-4-0 - Alarkl&Fu
Germania $ 525 640 Hech&Niet's
Gotham 158 168 Mach Each
Ureenwicn-6Merclaants'.
Hanover
690 7-1-0
Bid
280
•
206
625
375
340
259
260
160
185
Ask
_
6-7-1
210
___
3-85
3471:
2571;
____
165
-_.
Banks
Metropolis 1
Aletropol'n6
Mt Merlin_
Mutual 6___
Nassau ____
New Neth_l
NewYorkee
New York_
Pacific$___
Park .
....
People's 1...
1151
375
190
250
285
210
220
375
350
255
:370
240
Ask IL
Banks
Bid
Ask
385 Prod Each 6 16712 1721
198 /teservo _ 9312 ......
2611 ,eaboard-..., 425
265
-CcOn11 ,-- 375 400
215 -.3ecurIty-11
145
. . >herman-- 1-3-5 .
.
_-_:,_ -hate 1 ____ 250 27-5
375 23d Wardll. 175
...,..
265 1.11600 Exc. 162 168
Wash Wts 6
375
250 West Side $ 575 oza
Yorkville 1. 600
...
6
•
, Bid and asked prioes ; no sales were made on this day. :Ex-rights. Mess than 100 shares. 6State banks.
a Ex-dividend and rights. b New 440
Salo at Stook Exchange or at auction this week. h First Installment paid. n Sold at private sale
at this price. z Ex-dividend. 1 Full paid.,, •
[VOL. Lxxxxv
New York Stock Record-Concluded-Page 2
'73t
For record of sales during the week of stocks usually inactive see second page preceding.
STOCKS-HIOHHIST AND LOWEST SALE PRICES.
Saturday
Bey,. 14
Tuesday
Sept. 17
Monday
Sept. 16
Wednesday
Sept. 18
Thursday
Sept. 19.
Friday
Sept. 20.
Sales cy
the
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1.
On bests of 100-Mare tots
Lowest
Highest
Range for Preolota I
Year 1911
Lowest
Highest.
Industrial and Misc.(Con)
It.
C2 Sep
8918,1'1y
BOO Amer Smelters Seo pref 11 86 arch 22 8912 J'ne
8818 881,s *8614 881:
83
*3712 88
88
*3712 88
5641,SOP
8378 J'net
t *8'712 88
Smelting& Relining 677 Feb 1 3938 etch 2.5
Amer
15.400
87
8534
865,,,
8534 8634 8534
8412 8514 8458 86
Sep
10363
9833
*8414 85
Aug
J'no
100
2
•
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1,200
191
190
100
100
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190
191
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19112
0 105 Aug 3
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99
new
pref.
Do
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1100 105
Sep
5312 Feb
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.;Je Sep
38
3712 3714 3714 330; 4,950 Amer Steel Found (new). 26 Jan 19
*37
37
37
38
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38
t *37
11214 SOU 1'-212 Feb
Jail 12 133 lieyi
127 12772 12714 1271: 3,600 American Sugar Refining 11434 Jan
127 12734 12712 128
iLl Jan 11912 Feb
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5 L.312 Aug
11512
Do
pref
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American Teleph de Teleg 1375 Jan e 14918 \li'1121, 1311. Aug 153% J'ne
; 1433 14352 14358 14372 144 14438 14413 14414 14413 14414 14414 1441: 3,350
,:412 Jay 1
21118 Feb
272 27514 2,400 American Tobacco
272 272
27412 275
272 274
272 272
,*269 271
10114 Jan 11 10633 Jan 1Preferred, new
1,200
10412 10412 10433 10417
10434 105
10334 104
104 104
2512 Dec
3612 Metz
6
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01 Mayl,
; 104 104
2514
1,50c American Woolen
30
30
31
3014 *28
30
291: 2912 30
29
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24
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251g
pre
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larding,
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3,456
37
3773 3878 367:. 37
3714 37
357.: 36
35
' *3412 36
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4614 46
g
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318
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; 5812 583. 5812 5834 5834 5834 5873 59
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i
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. 1063g 10636 10614 10614 5106 10633 10614 10636 10614 10014 106 10618
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v Sep
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,
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37
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al Leather
ther
3172 3118 3173 313 3178 3118 3112 3112 3234 31,300 e'entDre
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pref
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99
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25
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3
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32,45e
4411
4378
44
4434
4473
4413 4431 44
3638 Feb
4278 444
25 Sep
4236 427
3634 14,700 Colorado Fuel & Iron
3618 36
(2334 'ley 14812J no
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3514 351! 3514 361: 3534 3638 3534 3638 3614
146 1461: 6,125 Consolideted Gas (N Y)- 13814 Feb 17 14412
1534 May
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10 Jan 16 .1713 Apr .
Products
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1578
4,410
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1572
1538
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151: 1612 155s
is Sep
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27614 Jan 3 87 Apr 0
69
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48
48 *45
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4814 48
46
1515 Jan 2 1831 J'iy 2., 112 Sep 168% May
46
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18134 1821. 5,450 General Electric
18212 18312 181 182
5134 Aug
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182 182
182 182
18014 181
30 Feb 26 42,g Sep
1,500 Gen Motors vet V: etts
3813 3714
3812 3812 3714 38
33
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8(178 Aug
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field
id
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3
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8
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(13
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78
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;
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ii
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13,750 al n.sp'n ConCop Par $20 75
1 12078 Sep
184 1818 1812 1818 1818 1838 103 1912 1913 1913 1952
Feb
*18
tr818 Sep 12938 May
10514
12412 12514 12414 12572 10,350 4 nternational Harvester 114
maenu 27
612 J
ee
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116 Sop 12814 May
0 121
12412 12512 12412 12534 125 12558 *115
4 si
73
125 125
pref
Do
120
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120
11034
*118
11912
____
11934 1,
214 Sep
5% Jan
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tr
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514
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513 538
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2012 2012 2012 2012 *19
Jan
▪ Sep
13% Jan
*1934 2034 *2013 21
International Paper
2,200
1614
*16
1638
1614
1614
*16
1618
1578
1573
4458 May 56% Jan
1514 1514 1578
x4578 Jan 3 6278 MaY::•
1.750De prof
58
58
5712 5712 6738 58
5658 5638 5612 57
44 Feb
23 • Oct
5634 57
241. J'ne 2 34 Jan :.
I1,900nternet Steam Pump
79 Fen 1 8433 Apr h
2712 2712 2712 2712 2818 2836 2734 273/
23
*20
1)01. J'ne
20 Oct
*28
27
410
Do
pret
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81
81
81
82
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8
807
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811: 181
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7212 73
73
73
101 Sep L 10134 Sep 1
pref
---- ---- 47212 ____ 101
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360
101121 10134 10134 *101 102 *101 102
10114 Sep 11412 Jan
410114 10114
100 Laclede Gas (St L) Gem_ 104 M. 01 16 10834 Jab
106 106 *10512 106
*10513 106
dall 16 21111 Sep L,
iiii5;ii2 106 *10512 106 *10512 108 *214
15513
Myers
4c
Tobacco
Liggett
215 21714 2,500
21478 215
217
216 216
Jan
,9
Aug
12
118
*214 21612 214 215
10,512
Do preferred
100
11512 11512 4114 118 *114 117 *114 118
471 J'1Y
*116 118 *114 118
43 J137
4414 4334 4334 *4312 4417 1,200 Loose-Wiles Bis tr co ctts 103 J'ly :e 10414 Jay
4438 4414 4414 44
• 4418 4414 44
Do 1st prof
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90 Jay
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2d pref
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0112
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9112
9112
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9112
05 Feb
7112 Deo
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75% Jan 31 9214 J'ly LI
*9013 91
100 Mackay Companies
*8513 8712 *8513 8734 8612 *861: *8612 89
77 filch
*8512 88
68 Dee
7078 Jan 2:,
Jan
11
*8512 88
68'2
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550
6834 8834 6873 6878 *6336 69
*6838 69
87 J'no
70 Apr
6812 68k *6812 69
Department Stores_ 69 Apr 11 84 Aug .2
May
SOO
83
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82
82
81148114
82
8078
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10534
pref
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*107 108 *10514 10634 *10514 10634 *10514 10634 110514 10634 *10514 10034 24,500 Mexican Petroleum
8414
20
Sep
Apr
4
023
8134 8.312 8136 8214 8214 8318
8212 8314 8112 8252 8134 83
Aug 5 *lips Sap 32412 Dec
2914 4,000 dellainl Copper_ _ _Par $5 $2336 Feb 14 $30 Jo
2918 29
2918 . 2878 2918 29
14334 Nov
11714 Jan
J'ly
29
24t,
11221131
5 1 Apre:11
13
2939 2878 2918 29 13913
ational Biscuit
1,400
138 139
13812 139
133 138
13714 13714 138
124 Jan 130 Feb
Sep
*137 138
ii
pref
Do
200 i,
1237 12373 .123 1271. *123 127
124 124
23 J'iy
1212 Dec
*12312 12612 412313 125
11.0eb 2
7 0
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19
ii
1214 '
cP
ja
Nat Enamerg & Stamp'g 88
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8
7
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8
7
17
17%
17%
1734
1778 1772
15 Jan 100141'iy
1736 18
DO pref
300
9212 *8912 9212 9118 9112
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90
921k 90
59 Feb
4312
9212 *89
Sep
Aug
6013
9
Jan
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5118
National
Lead
3,500
5914 5912 5914 5914 5914 5912 5958 6014 6018 6014 6018 60%
101 Sep 10034 Aug
1051 Feb 1 11014 Aug
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400
10034 *108 10934 10934 10934
$2114 jaes
41518
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Jan
28
1
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$2314
31814
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$5
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10,262
2212
2258
2214
2213
22% 2214 2212 2214 2253
2218 2218 22
711 Feb
46 Oct
200 New York Air Brake__._ 50 Feb 17 83 Aug....
79
79
79
79 *77
*75
80
*75
78
*75
7534 May
80
(14 Jan
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8673 2,500 North American Co (new) 7412J0.n 3 8773 Aug .t.
85
85
85
.84
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3333
2318
Apr
3
eich27
Jan
35
30
8536 8536 x8378 8434 8412 8412 84
000
pacific
Mail
3013
3114 *3013 3134 3036
31
54% Jan
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35 Sep
47 Feb 6 5538 Apr 25
.,pe,ace Te
tt435__
t1oe '.1elle
elle
ap
5018 5014 5034 5078 5136 2.200 -r.3-00
5012 50
50
50
50
31
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103 Jan 8 11814 May25 lel% Aug 109 Jan
2.150
11714
11714
117
11714
1
11712
411714
1612 116 11714 1171 11712
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et) Sep 11813 J'ne
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600 Philadelphia Co (PLUM)). 102 J'ne
105 105
10413 105
104 104 *102 106
2314 J'no
17 Deo
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1634 Mc-h 1 2714 Aug 14
PiTeimprIgeht Coal Co
2412 2414 25% 24% 2473 2436 2534 2513 2636 11:72
2412 24
0734 Jan
9078 JaY
24
Feb 4 100,4 Aug 14
77
___,
....
1
8
9518 9534 9765
9614 9614 96
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94% 9412 95
11
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20012
94
167
llard
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V.
510
193
4.190
18518 18518 188 192 *190 192
10734Jan 12 118 Aug:
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Do preferred
500
114 114 *113 --- *113 __ __
11313 1131: 411312 114
26 Sep
*112 114
37% J'ne
2834 Feb 27 3834 Aug 1
Pressed Steel Car
371: 3736 3712 3714 3736 3712 3717 8713 3734 1,820
3712 *37
111 Sep 10234 J'ne
*37
110
06 Feb 28 10334 Aug le
200
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Oct 120 Feb
103
*101 103 *101 10212 410212 10217 10212 10212
,
1.
17
Aug
Feb
12078
Pub
10634
Service Corp of N J..
200
11912
11912
120
*11734
120
*117
119
119
120
*11734
*11713 120
154 Sep 163 Jan
15812 Feb 2 175 Aug
74p Pullman Company
16878 169
168 18834 4167 169
26 Oct
A,167 169 *187 169 *167 168
39 Jam
271. Feb 8 3813 Aug
2,103 Railway Steel Spring
3758 3738 3778 38
371
92 Jan 103 Joe
3634 3634 3634 3714 3712 105
2 10
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:
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105
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103
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105
*102
105
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-.12 Sep 319 Deo
Jan 29 825 Sep
dllay
WS
$10
Par
ConsCopper
75,201
24
2312
233
23%
23
2234
2134 2218 2214 2278
2112 215
18 (Set
3514 Feb
Republic Iron & Steel
2936
2912 2814 2834 2884 2
28
2712 29
641211eb 27 92 Aug 2,
7418 Oct
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' 2734 2734 2712 2713 8914 90
9014 8978 9014 90 4 9138 4.701
90
8812 8914
89
J'imeu 103 J'iy
89
100
prof
(M)
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825
102
1021:
210113
1021:
110212
10212
*102 10218 10218 10217 102 10218
140 Jan 15 22012 Sep t 12512 Sep 192 Feb
7,15(.. ears, Hoebuck & Co
212 21312 212 213
213
'209 20913 20613 20878 208 2114 21213 57
5614 Feb
34 Sep
3914 Jan 30 5034 Sep 20
57
57
5934 2,05( Sloss-Sheffield Steel & 1r_
*56
5614 *56
56
55
5812 S55
*54
17% J'ne
15 Aug
1614 Jan It. 3312 J'ne:e.
100
Standard
Milling
30
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30
*23
30
*28
2812 2812 *2713 30
34
. *28
26
53 Dec
50 Jay
Do pre:
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67
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67
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67
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66
67
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42
41
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41
42
42
42
4214 41
4434 42
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0012 J'ne 26 9818 Aug
Do pref
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961: *94
9612 *94
9612 *94
9612 *94
9612 *94
*94
Feb 1 24114 MaY 21 33014 Sep $44 J'ne
4412 4334 4414 4312 4357 4334 4433 4,601 &lennessee Copp_Par $25 33412
*4338 4334 4314 4334 *43
7412 Nov 13612 Feb
81 Jan 16 13058 Sep ,
m
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ser
d
u
'iefa.
p
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r
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lie
r
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9834
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103 Mob 11378 Jay
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114
11412
114
11412
__
*114
____
*11413
0 Feb
7
434 Dec
lluu 25
1' 111747182 Ilay 1e
438 .J1ri
110
Union
Bag
&
Paper
7,500
1438
14
14
1414
1384
1313 1334 1378
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5913 Jan
5018 Nov
4934 Fob 21 6734 May15
*5912 61
61
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60
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6034 6034 *59
60
60
60
60
PJ Feb
11 Sep
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295
20
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g
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30 May
24 Aug
5518 Sep
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100 U S Industrial Alcohol
56
*54
5478 5478 *5334 65
55
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55
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6518 Jan
7034 May
87 Jan 31 861-. Jay 1:
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8212 821: 8234 8338
83
*82
83
8234 *82
8234 *82
*82
4514 Feb 1 674 May21
4812 Deo
Seel
3012
United
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5114 63% 5234 538 5312 5412
5034 5034 5034 5034 5012 51
104 Sep 11512 J'ly
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10873 109
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y
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7034
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80
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7434 7436 751: 148,600 United States Steel
748 74
7214 7238 7214 7278 7212 7412 74
103 Oct 12078 Feb
Feb
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b 13 17
15 2 S
:
7131 1e
58
10
Do pref
113 11314 11314 11317 11314 113312 11312 11378 4.850
11278 113
113 113
_I
Sep
Aug
338
Jan 29 36714
$5773 Dec
6478 6412 6514 88.151 d1Jtah Copper.._Par $10 $5213 Sep
6436 6618 84
6414 6412 6434 6518 6514 66
4313 Sep
708 Feb
I, 6714 Jan 26
45
4833 4538 4612 • 3.900 Virginia-Carolina Chem
4518 4614 *4513 4812 45% 4614 46
4A,..8.45
11612 Aug 8 122 Mch 27 114 Sep 12812 Mch
Do pre
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1161 11613 *116 118
*116 118 4118 118 *116 118
3
139 Sep 177 May
Aug it. 151 Jan
1133
Co
&
Fargo
137
ell
*133
W
*133
2
137
*133
1371
137
*133 138 *133 13712 *133
7153 Apr
8412 May
estern Lnion Teleg- 79 Jan 2 8614 Jan 13
8112 8112 x81
8112 1,206
82
8112 8112 82
81
8112 8112 81
5853 Seel
79 May
85
85
84
8,578 8512 8573 39,581 Weatingh'seEl&.Mfg iLIBCD 8614 Jan 3 8912 Aug
8738 8712 8712 8812 8312 88
5 126 Aug 8 11012 Aug 123 Jan
Jan
11478
Do
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prof
*125
130
127
4125
130
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I
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Banks
Brooklyn
Coney I31.dT
First
Graenpoint
11111sIdeT,
Homestead,
Manutae'rs
Mechanics',:
. Montauk 11
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240
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212
225
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N Y 01111
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175
155 Col umbel145
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105
150
Co in inertial
lempire
Trust Co's
Equieble Tr
Farm Lo&'1
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Fidelity
415
405
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18' way Tr
Banks
Br,oktrin
North Side TI
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SM
Ask
211
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1045
570 575
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300 310
540 345
1400
222
218
315 325
1065 1075
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804
Ask
11130 1045
635 545
375
585
1300 13-1-5-477% 485
1110 1130
400
410
160
160
187.,
I rust Co', 1442
tiro ik Lyn
,irooklyn le• 470
150
,;I Means'
283
e'ranklin
275
110
llome
520
if Ines Co
L 1st L & Tr .400
130
Vasslu
29$
Pea pies'
ammo Cu_ 100
Ask
275
7112
305
110
• Bid and asked prices, no sales on oils day. 0 Less than 100 shares. t Ex-rights. a Ex-dly and rights. 0 New stook. d Quoted dollars per share.
Banks marked with a paragraph (V) are State banks. z Ex-dividend.
_
f Sale at Stock Exchange or at auet on this Week. 3 Ex stook dividend.
733
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 1 1909 (hi Exchange method of violini bonds was changed, and prices are now a11---”and interest"—excep for Income and defaulted bonds.
,--nomm.••••••
•
BONDS
. Y. STOCK EXCHANGE
Week Ending sent 20.
il
Pries
Friday
Sept 20
Week's
Range or
Las Sale
1'4
Range
Since
Jan. 1.
t99
BONDS
N. Y. STOCK EXCHANGE
Week Ending Sept 20.
Pria.
Priddy
,sept 10
Week's
Range or
Los: Sal:
•
Range
Since
Jan. 1.
Low High
High
Bid
High No. Low High Chesapeake & Ohio—
Ask Low
Ask Low
BM
10.12 10412
Gen funding & impt 5s__1929 J -J
10172
10014 10079
-10312 10i78
101 10114 1004 May'12
109 11134
1st consol gold 55
193999-N 1.6712 11017 0) Aug'12'
10034 101^
101 10112 10934 May 12
Registered
110 11114
1939 At-N 10;314
111 May'12
102 10234
10214 10231 1021.9Xly '12
0012 103
General gold 4 %9
9).42
19212
lu0
1992 111-S
1.372 §i118 331
10112 10314
ki918 Q-F
S 39 coupon
Registered
1992 A1-B 98 9 28 993:1 Noy'll
11314 1145$
1 1:11142 11
024'14
4 11153 Aug'12
1925 Q-E 10
U S 49 registered
4
Convertible
4
1143
9235 '34
F
1930
11314
11114
A
114
4-62
11312
93%
14s
Aug'12
0332
Sale
1925 Q-F
349 coupon
Big Sandy 1st 42
5614 89
1944 J-11 86 5912 8812 Sep '1:
S Pan Canal 10-30-yr as k1936 Q-N 1009 1911,, 10012 J'ne'11
Coal ithr Ely 1st gu 4s
1945 J -D 85 8958 8812 J'ne '11
10178
4102 10178
1
4 1568 1021;
U S Panama Canal 33 g1961 Q-S 101/
101-274 1614
Craig Valley 1st g
J
1013.1 May'12
5,4
5314 834 84 May'12
5934
Potts Creek Br 1st 49
1946 J -J
Foreign (iovernment
9312 96
It & A Div 1st con g 4s.._1999 J -J
i 97 109
9134 95
Vb 31ay'.2
Argeutine--Int,ernai bs of 1909 If- S 1 9758 59 99 Sep '12
9012 7012
45
-J
gold
J
9492
1999
conso!
2d
'1
Aug
J
94
94
-D
9314
951:
_
93,1 9112
Chinese (Hukuang) Ity 5s
Greenbrier By 1st gu g 48 1940 9I-N 91/
_ 95 Oct '16
4
1
Imperial Japanese Government7018 'ail, 7018 Sep '1
Chic & Alt RR ref g 33
-id 9238
5 9112 94
1925 F- A 9233 Sale 9214
bt•erling loan 4 145
40
95
9 A4)
6014 6512
119
69
J-.1
Unitway 1st Uen 3 195
6414 85 6112
91
hi
0114
9194
91 90/
2d Series 4 10
•
4 93
1
1925 J -J
84 1..34 9334 Aug •19
9935 100
Sterling loan 49
8312 8b18 Chic B &Q Denver Div 4s 1922 F- A 9114 9736 190 Aug'12
1931 J J
1949 J J
84 55,2 8334
Illinois Div 3 143
4 19314 103
1
1.1334 16 10212 101
Republic of Cuba 5s ezten debt_ II- S 1102/
334 83
5,513 Salt
1949 J -J
83 __
Registeted
8614 Aug'1:
9;08 99) Aug'1'
External loan 414s
99 9914
1949 F- A I.
1,811 1004
1949 J -J
9714 93 9914 Sep '1.
Illinois Div 45
9778 91134 • 9734 Sep '1:
Ban Paulo (Brazil) trust 59_1919 J -J
9719 081,
1949 J J
95Z3 9912
97 100 9859 J'ne'12
Registered
93 95
Tokyo Jay loan of 1912. 5s__ -- M-S ---- 9212 93 Sep '12
_ 10378
10373 105
1019 A-0 10334 _
1099
Iowa Div sink fun
99
t 90 9612 96
-3 9512 9714
U S of Mexico s f g 68 of_ 1899
9914 9958
Sinking fund 4s---- 1019 A-t) 9334 99-14 9914 Aug '9.
. 88 91
Gold 48 of 1804
1954 -D --- 91 01 May'12
Nebraska Extension 4s1927 11-N 9612 99 98 Sep '12
97.4 9958
Thai are p rices on ihe ba..913-0 1 85 to .8.
Registered
1612 971:. 9918 91(91'11
State and City Securities
2 -591;
921 .13-SS
N 9918 ____ 9)12 Aug'I:
-1;173.; 64 10034 103
1001.
Southwestern Div 49_39
1960 M-S 10012 Sale 10014
N Y City-4 1913
Joint bonds See Great North
10014 Sale 9073 10014 619 9972 1011R
4 qs when issued
.1862
10033 10158
10018 1001, 10039 Aug'1
Debenture 5s
9314 Sale 98
9914 28 98 10018
1991)
4% Corporate Stock
13.415
General 43
1518 Sale 9112
981:
9 93 10018
99.3 9818
9112 9714
4% Corporate Stock____1955 91-N _
1 7714 8112
Tit:
5 ---.
31 38
77.14 7714
9314 9818
77
NSI
995
9814 11 9778 10014 Chic & E 111 ref de Imp 4 1 _ 1119
1957 11-N
_4% Corporate stock
1st consol gold Os
_ 10534 106
122 125
106
11012 12217 12214 J'ly
10534 1077$
1957 M N
New 4 149
4
1
General consol 1st 5s
107 111/
6!1
601
A:O
1 M
37
N li0
193
19
102 10234
0
53 107 Sep
1,73_4
1917 91-N 13112 10,94 10159 Aug'12
New 4 195
10914 10914
Registered
10914 Feb '12
8 1063,10778
10334
• 434% Corporate Stock 1957 M-N 16514 Sale 10934
Clue
4
1
h .5c lnd C By 1st 5s103
10812 109/
W-N
7 .1
1936
10112 10278
-J
10812J'ne'12
• 499% assessment bonds_1917 31-N 10112 10118 10218 Aug'12
Chic Gt Western 1st 49_
5 76 83
8958 11 94/
1959 34-S 75
4 88
1
7678 76MI.
334% Corporate Stock_ _1954 M-N 8478 Sale 9478
2nd
&
Chic
4
1
/
129
125
10114
10038
10038
-J
J
10278
17
10012
69:19
M-S
Loulsy—Ret
4
__-125
1281:
Aug
1961
---N Y State-49
Refunding gold 5s
10.314 101 10098
10158
1947 J-J -_— 110 10334 Aug_______ 10934 11034
2 10038 10278
Canal Improvement 401951 J-J .
Refunding 49 Series C
1917 J-J
.10094 10118 10118 J'ly '19
1011s 103
Canal Imp'ment (new) 4s 1911 J
Ind & Loulsv 1st gu 49_19513 J -J
10012 Sale 10)13
1
2
-id- -6611091
1 yr ;112
P
'
A
558 J
96
8
2 10012 102
Canal improvement 4s 1960 J
9714 _
Chic Ind do Sou 50-yr 49
1956 J J ---- 931: 9014 Aug'19
9014 0152
1961! J'ly '1
No Carolina 434s 2,0-40__1933 J -J
4 it; 9734 Apr '12
1
97/
9734 9734 ChieLS & East 1st 4 99911)89 J -D 9712 sale ,
7 Dec '11
104
1913 J-J
Tenn new settlement 3s
Chic Mil & St P terml g 59 1914 J -J id324
1
2.___ 101 Aug'12
in 102/
87
9612 Dec '11 1--ylrgInta fund debt 2-3s_ _1991 J -J 5734
Gen'i gold 45 Series A__e1989 J- J.
4
1
--- Sale 0,2
971: 2i. 9612 99/
Os deferred Brown Bros cars__
5734 99 'if''ifs;
9712 98
Registered
91989 Q-4
Ratroad
Gen% gold 3 349 Serles B _91959 J-J
8118 -gill, 83
4 8678
1
83/
2
77 8014 79/
19
2 Sep '12
97512
4
1
791
51995
77 8414
Arbor 1st g45
Registered
86 J'uo'll
9738 120 9612 100
82
& S Fe gen g 49_1995 A-0 9738 Sale 9634
nn
tchTop
25-,car deben 48
1)0 9259
911,,
9112 Sale 9112
1995 A -0
9618 J'199 '12
Registered
4 9919
1
98/
Cony 4 999 (full pd recta) e11998394 jj:jj 105/
389 10134 107
106
4 Sale 10512
1
88
25 88 9232
• Aditistment gold 49____51995 Nov 88 Sale 88
Chic & L Sup Div g 5a
105 108
J'ne'12'1
1921 J-J 106
41
1
/
038
5 Sp
08
-07 _ 10
51995 Nov 89 9114 91 Feb '12 Registered
•
9014 91
Chic & Mo Riv Div 6s
8813 Sale 8734
108 10859
1926 J - J
_51993
Stamped
,
8914 Os 8794 9299
1921 J-J 10412 1941. 10112
Chic & P W 1st g 5s
10412
1 10112 10634
_ 10418 Sep '12
1955 J -D
, Cony 45 Issue of 1909
10614 10734
9212 9514
CM & Puget Scl 1st gu 4s 1949 J -J _
021: 92/2 Sep '19
108/8
1955 J -D isizi 16;12 10712
Cony gold 43
10534 11014
1916 J-J 10214 10219 10214 Sep '12
Dak & Gt So gold 5s
. 102 103
621 10014 10319
• Cony 43 (Issue of 1D10).1984) J-D 103 Sale 10414
105
1 11218 11388
1124
Dubuque Div 1st a f 69_1920 J -J 11134 _ 11998
1081: 3.
10-year cony gold 59, _1917 J -D 10312 Sale 107
4 105 11079
Far &Sou assum g Os_ _ _1994 J -J 111812 ____ 11738 Aug'11
9 Debentures 45 Series K- 1913 F -A 9414 __ 9914,1'1y '11
10412 10434
1919 J-J 10314 ___ 10434 J'no'12 _
LaCrosse & D 1st Is
9 East Okla Div let g 49_ .1923 M-S 91 _
90 rly '19
-lir -913;
1921 J -J 1043810(134 106 J'ne'12
%Via & Minn Dly g 59
100 10638
01 52 91
91
91 94
/9 Short Line 1st 49 gold_1958 J -J
11234 11234
Wis Val' Div 1st Os
1920 J -J 11134 11219 11234 Mch'12
51 9934 1901:
100
100
, Cal-Ariz 1st & rot 4 149_1962 M-S 100 Sale
____ 10914 Sep'
101
w1
Mil & No 1st cons e93
03.44 i_5_
101
101 10114
1913 J -D li0
19914 11012
1
S Fe Pros & Ph 1st g 5s 1942 91-S 10914
10018 10018
10012 Aug'12
Extended 4 199
4 J'iy '11
1
106/
in-s
Chio & St L 1st 69
10434
108
10134
10434
&
Chicago
N
4
943
95
West
96
cons
4
1
/
7s
94
9
1
_1
m-s
15
13
D
9872
(-3-PP
9418
7
l
53
4s___h1:1'
1
Coast
1st
gold
Atl
J'ne'19
F-A
9658
9658 98
____
Extension
9612
03_
49
1386-1926
'06
Oct
Ac-s
98
Registered_____ _ 51942
A 95 96 9734 Noy'll
-F
F7Q
26
Registered
-1198
1880p
1938 bi-N loat2 idi12 10898 Attg'11
, Ala Mid 1st gu Cold 59
1987 91-N • 84 8458 8312
General gold 334s
84
29 3 8 87
95 Aug'12
-91- -6514
, Bruns &W lot gu gold 49 1933 J
4 8414 6434 J'ly
1
82/
Registered
8412 8634
Charles & Say 1st gold 79 1930 J -J
037k 54 -6;r31987 M-N 9534 Sale 9512
General 49
9531 112 95,2 9834
01952 111-N -9i43 "Sidi 9334
2 9614
& N col. gold 4a
(
Sinking fend 63____1879-1929 A-0 110 __ _ 11134 Nov'll _12312 12318
Say 19 & W tat gold 09_1934 A -0 12118 1241, 12.318 J'ne'12
112l 11958 May'll
Registered
10')
,-._ 10934 Aug'11.
1934 A -0
1663-4 161T3-4
1st gold Is
,•
Sinking fund 59
105 10678
79-1929 A -0 10534 -_-___ 105 Aug 1:.
97
18
97 100 97 Aug'12
1918 J -J
97 97
Sil Sp Oca & G gu g 49
Registered
1879-1929 A-0 1041g____ 10378 Dec '11
Tian & Ohio Prior 334s ,.__192 J-4 90 911: 9012 90/7 3 9012 93
Debenture 55
4
1E31921 A-0 102 1. 10234
8.312 9014 9098 Aug'12
101:
5192 Q-J
9013 9158
,11.9 Registered
Registered
-o 103
nA
1,N
23
149
193
10611 Feb '19
94 9512 0014
51943 A-0 99 Sale 95'2
Gold 45
Sinking fund deb Os
2
2 1081/6111933 91-N 10112 ____ 10812 Meh'12
ltegLstered
99 Aug'12
96 981s
91948 Q-J
Registered
10734 Aug'11
112 112
112 Jan '19
, Pitts Juno 1st gold 99,1922 J -J
From Elk 63 Llo V lit 69_1933 A-0
iid
126 J'ly '12
8712 90
' PJunc & bi Div ist g 3 9951926 19- N 87_ 8712 Sep 's.2
Manl GB &NW 1st 3)93 1941 2-5
8912 15 8012 92
' P LE & W Va Sys ref 49_1941 M-N 5912 bile 8912
09
90129911'
NOW & S L 1st gu 3 999_1941 J -J
Southw Div 1st gold S to 1925 J -J
8914 15 8812 9112
89 90 9812
11112 11615
Mll L S & West ltit g 63 1921 M-S lit - 18
884 ISeli;
14
4 _ 101/
1
101/
4Sep '1:.
1
10152 10113
• Cen Ohio R 1st c g 4 193__1930
106-14 110
9:at & imps f gold 5s 1929 F-A 10714 __ 10031 Aug'11
.15612 107 J'no'12
CI Lor & W con 1st g 5s__1933 A-0
107 11112
Ashland Div lst g 6s 1925 M-S 1i514 _,,,._ 14212 Feb '02
_
Motion Riv 1st gu g 5s_1919 F -A 1-55
10214 J'ne'12
10214 1011?
Mich Div 1st gold 69_1924 J -J 11434
11634 May'12
_ 10938 Mch'1
• Ohio River ItR 1st g 591930 J -D 107
4 11634
iff310018 10938
11 9212 94
MU Spar & N
93
1st gu 45_1947 M-S 9212 93 9212
,
General gold 5s
1937 A -0
10512 Apr '12
105 1051Northw Union 1st 75 g_1917 91-S 110 __ 115 J'ly '11
_
Pitts Cley & Toi 1st g 69_1922 A-0 112
11312 Feb '1
11312 11312
Winona & St P 1st eat 7s 1916 J-D WO Ill 104 Sep '9.
109 111
Pitts & West 1st g 4s__1917 J -J
97 Sep '19
97 971:
Chicago Rock Is & Pa Os 1917 J-J
10134 105%
_ 91 J'ne'l
Stat Isl By lit gu g 4 i5s,.1943 J -D 91
91 91
Reglstered
1917 5-2 1014
3
A upg
334 Se
99
10
1
112 J'iy '12:T
Buffalo R & P gen g 5s
1937 91-S 110
o 11178 11212 General
gold 43
1988 J -J
2
9412 943-4 9138
4
/
943, 47, 9414 -667l041
4 Sale 10178
/
Consol 434s
1957 M-N 1011
104 10714
1988 J -J
Registered
4
1
97 Feb '11
7
94 96/
98312
5 .191y '12 _
87
9
All .Se West 1st g 49 U._19118 A -0 95'4
1934 A-0
Refunding gold 43
9034
8,14 5"; 87
Sale
103 J'iy '08
_
1943 .1-J
CI & Mali 1st gu g 5s
1932 J- J 91 9114 9114
20-year debenture 5s
915, 31 91 1458
11134 Nov'll
Roch & Pitts 1st gold 6s_1921 F-A 111
1914 91-N 00 _ _ 9734 Sep '11
Coll trust Series L 4s
2
112 ifEs1922 J -D 11252 _ _ 112 Aug'12
Consol 1st g Os
• P 43
1;5
_
0434 J'ne'11
. iE 72 Mch 1
Bat & Susq lit ret g 49.._d1951 J -J
6) 11, 67 -fit;
88
Chic 11 I & Pa.c RR 4s
1(1014 LI iddi fed -N 6834 Sale 6913
I1-N
9 12
100
2
1913 J -J iddts sale 10018
So 1st eat as _
7134 7234
Registered
01034 Meh'12
7
2002 91-N
C
too 101
1913 M-S owl lot, 100 Sep '9.
9-1 2d 53
RI Ark & Louis 1st 4348 1034 M-S 89 00
93
)
,
9
10034 Jan '11
1913 M-S 99
Registered
11112
C
Bur
'12
94
11
Apr
N-1st
A-0
'4
0
0
1
2
1
110
g
,4
A
1
110
53_1934
13
10914
1'0
%
8
811534
1127
_
2
112
F-A
fos_p1945
7
112
gold
1st
Ga
Central of
10738
1934 A-0
Registered
10334 11118
Consol gold Os1945 M-N 10734 itisi 10914
CR 1 F &N W 1st gu 59'21 A-0
165- 10514 Sep '11 ---107 107
1945 M-N 10612 _ _ _ _ 107 Aug'12
Registered
• M & St L 1st gu g 79.._1927 J-1)
-_-_-_-_
— 103 Dec '11
1st pret Income g 5s____p1945 Oct
Choc Oic & G gen g 59_01919 J -J
idi 102105 Dec '11
2(1 pret income g 59___p1945 Oct
Consol gold 58
‘i :
12
:
06
al3 1
Me;
1 S
07
107 10814
1952 A1-N 116
2- 16
15/
96 Nov'll
2d prof income g 59 stamped_
Knelt
'11
Dec
&
___
'L.
M
Des
100
1st
J'ly
10114
_1923
5s_
9912
A-0
10012
107
10034
5s___91945
g
Oct
Income
_
—
pret
3d
St Paul& K CSh L 1st 4 999'4 1 F-A
('1
4 Oct '10
1
85/
L, 81) 9112
80 89
ad pret Income g 55 stamped__
121 124
1930 J-1) 121 122 121 Sep '19
8935 0112 Chic St PM & 0 con as
Chatt Div pur mon g 49_1951 .1-15 -W0; -611 9112 J'iy '12
Cons 65 reduced to 3 19s 1930 J -D
10714 10714
93 Dec '03
Mac & Nor Div 1st g 5s....1946 -J 107 1091:9 10714 Jan '12
Debenture Os
10 14
10::14
kW"16E1930 91-S
115 Nov'05
1947 J -J
Mid Ga & Atl Div 159
Ch St P & Minn 1st g 09 1918
10934 May 11
122 12312
122 J'ne'92
1946 J -J
• Mobile Div 1st g Is
Nor Wisconsin 1st 69
1930 J -J
12958 May'09
101 Sep '1:
id/ 1113
Cen RR 6c 13 of Ga col g 59_1937 31-N id(11-2
P
St
118
HA
S
&
City 1st g Os
1919 A-0
4 11113
11034 May'12
iida11 118 12234
Cent of N J gen'l gold 59._1987 J -J 118 119
Superior Short L 1st 59 29.1930 M-S
11934 12214
51987
Registered
11934 11914 Aug'12
10812 J'ne'12 -_-_-_-_ 108 10812
Chic &West Ind gen g 69_91932 (3-I1
105 107
Am Dock de Imp gu 59___1921 -J 10 114 1051: 105 Sep '1
1952 J -J
Consol 50-year 4s
8634 11634 8812
8'0,
1 9812 9213
,1021:
10212
Le lie Ilud It gen gu g 59_1920 J -J 102 ____ 10212 May'12
Cin H & 1) 2d gold 4 19s_1937 J -J
101 101
10114 101 Mch'll
100 J'iy '17
100 100
Leh & 1,Vilites-B Coal 59_1912 M-N
1st & refunding 4s
100 100
N Y & Long Br gen g 45_1041 M-S 98 ___ 100 Sep '17
911
9/P8 861 J'ne'12
59IN
193
lit guaranteed 4s
86 87
2 90 9214
9119 9119
Cent Vermont 1st gu g 49_91920 Q-F 91
U. S. Uovernment.
registered__di930 Q-J
consol cottpon___111930 Q9 J
UU SSS 2s3s29 consol
k1918 Q-F
registered
•A
MISCELLANEOUS BONDS—Continued on Next Page.
Street Railway
Brooklyn Rap Tran g 59_1945 A-0
1st refund cony gold 4s_2002 J -J
• Bic City 1st con 33 1916-1941 J J
Bk (3 Co & S con go g 53_1941 11-N
Bkiyn Q Co 4.5 1st 59_1941 J -J
Bklyn 1ln El 1st c 4-55_1950 F-A
F- A
Stamped guar
1949 F-A
Ifin99 Co El 1st g 45
1949 19-A
Stamped guar 4s
Nassau Elec guar gold 43_1951 J -J
Conn Ity&Llst &ref 5g 4yis.'51 J -J
1951 J -J
• Statnped guru 4 3,,
,s
Det United 1st cons g 4 199_1932 J -J
S
Ft Sinfth Lt & Trac lstg Is 1930
Grand Rapids ity 1st g 59.:_1916 J-1)
Havana Elec cons/I1 g 59_ _1952 p-A
intorboro-metrop coll 4 34s_1058 A-0
Interboro
_ _Tr 59 Sec A_1932 M-N
— Rap
• No price Friday; latest this week
Street Railway,
104 Sale 104
9458
10419
3 103 1055
: Manhat By (NY) cons g 49_1990 A-0 945s Sale 9458
Stamped tax-exempt____1990 A-0 9.5 9938 9514 Sep '1:
0014 Sale 90
91
700 8378 011,
101 10912 10214 Aug'12 ____ 1011
102 Mch'19
4 1021: Met St By gen coil tr g 53_ _1997 F-A
/
99 9314 „my '12 _ 9834 983,
_
9111,; J'ne'12
Guaranty Trust
64 May'12
251i 43
Refunding gold Cocertif3
99-15
---- 6114 J'iy '1.
Farmers' Loan & Tr ctf____
itiffi Sale 15 r1-2 iiiiK
1511; i031-4
10113 lo , 107
---- 5034 Itch'12
102
1 10112 1021,
Stamped
1031; 101 Sep 1:
5412 Sale 9912
969, • 4 8312 s'
Bway de "1ch Av late g 59_1943 -D
02 10159 Sep '1:
_;-.. 1102
86(/514esl,
10119
1 5414 86
Col & 9th Av 1st gu g 59_1993 M-S .
79 Artie 71
79 I 7,12 81
102 J'ne'12
Lea Ay & P F 1st gu 59_1993 M- S
4 J'no'l:_ _. 101 10179
/
101 1011
74 J'ly '12
Third Ay RR cons gu 49_2000 J -J
1011.
IOU. 10112
I 10112 1021.
Central Trust Co certs
7412 J'iy '1
7512 771, 7,312
70,
1 39 9933
Cent Tr Co cts stamped___ _
73 Sep '12
_ 931: 93 Apr '12 __.
93 95
Third Ave By 1st g 5s___1937
107121091: 108 *Ply '12
100 .... 93 Sep '12 ___. 191 10014 Met Vt S El (Chic) 1st g 48_1934 F- A ---_ 8118 9312.11Y '09
_
99
"I
u.)
1041:Deo '11
9 9879 9934 2111w /.31ec Ely & Lt cons g 511920 F-A
-.Sale 8073
ii:178
82 57: 8012 8412
Refunding & eaten 434s.1931 j-J
9412 ___ 9512 May'12
21 10318 105
131 hale_ 10.834
101
Due April. a Duo May
it Due July. k Due Aug. o Duo Oct.
9412 0815
9514 98
9912409
97 10358
5812 64
5712 6214
5758 62
103 10412
10112 10335
102 103
74 80
4
/
73 811
7244 8114
108 11012
-9512 9512
p Due Nov. q Duo Dec. s Option sale.
New York Bond Record—Continued—Page 2
'734
7,4,8
LXXXXV.
Range
Price
IV cele
BONDS
1Veck't
Range
t •
Frt,:av
Since
Range or
N. Y. STOCK EXCHANGE
Since
Range or
Q-8
,/an, 1,
Last Sale
Sept 1.0
Week Ending Sept 20.
Last Said
Jan, 1.
to
--high No Low High
Bid
Ask Low
Bid
Ask Low
High No. Low High St P AI 1+e :11 (Continued)—
On Ham & Dayton (Continued)
9258 Mch'11
_
Pacific Ext guar 4s .C__ __HIV) J-J
I Ist gu g 5s__1941 31-N 101 102. 10212 Aug'12 • __ _ 10212 10.114
Cin D
9434 97 91 Sep '1:
661:
g4s1948
A-0
1st
Nor
Div
E
Minn
1923
NI-N
4s
g
1st
gu
Ft
W
Mch'll
&
88
Find
• C
t 1444 sep '17
1.11 116
Minn Union 1st g 6s___1922 J -J
_ -g634 83
• Cln I & W 1st gu g 4s_ _ _ _1953 J -J -E63-4 841 8634 Sep '1',
127 12714
127 May'12
•-g
Mont C 1st gu g 6s___ _1937
Day & Mich 1st cons 4 Ms 1931 J .J
J-J 124_ 13614 May'06
Registered
104 lois':
104 10412
Ind Dec & W 1st g 5s_ _ _ _1935 J
J'ne 12
(1114 1
.111;
- 1104 Sep '1:
1st guar gold 5s
193
937
7 J-J 10934 17113,
1935 J-•)
151 guar gold 5s
10712Dec '02
J -J
RegIstered
-661; -Et;
2 9012 Sep '1
Cleve Gin C 6: St L gen 4s 1903 J -D '1)012 -01
38
7 J -D 1E71;
l2t-2Sen--ii
193
WIII R: S F 1st gold 55_1
1631 J- J
91 933:
20-yr deb 4 1 s
91 9752 91 Sep '12
-611; -17592 fig 941. Sep '1:'
15 9313 941; Gulf ec S I Ist ref & t g 55_61952 J -J
Cairo Div 1st gold 4s_ _.._1939 J J ___ 9312 9318
)312
61952 J -J
Registered
'Cln W & 11 Div 1st g 4s_1991 J -J
00 93
90 90 J'ly
13034 103
foci'St L Div 1st col tr g 43___1990•N 904 92 9112 Sep '11
8978 931; I_Tocic Val 1st cons g 4 50_1999 J -J 10014 1001' -6,54;
10012Sep '08
1999 J
i Registered
Registered
1990
8812
91 Oct '07
Col & 11 V 1st ext g 43_1948 A-0 92 _ _ 9412 Dec '11
Spr & Col Div 1st g 4s
1940 51-S
_ 90 Dec '11
-6618 9613
F-A 9241
_ _ 9618Jan '12
Col & Tel 1st ex 4s
W W Val Div 1st g 4s_ _1940 J -J
-di- 91
91 Apr '12
238 100
10014 12 9,
957
5 J-J
193
9112
Hous /3elt & Term 1st51
CI St L & C consol 6s__ _1920
iddi; 107 10534 Dec '11
ilinois Central—
1st gold 43
0618
90 97
k1936 Q-F 9512 961, 9418
10158 101
1951 J -J 100
10118 Sep 'If
ist gold 4s
9E3 90
k1936 ()-F 9518 98 96 J'ly '12
Registered
1951 J -J
100 Sep '11
Registered
Cin S & Cl con 1st g 5s___1028 J -J
10718 J'ly '12
10718 10718
90 'jO
1051 J -J
to Apr '10
1st gold 3343
1914 -1)
103 1051;
CCC &I consol 7s
_ 105 J'ne'12
89 8012
J -J
89 Aug'12
Registered
Consol sinking fund 7s.,1914 J -D
A-0
1951
9312 MaylE
Extended 1st g 3 s_
9
12312 123!:
• General consol gold 63_1934 J -J ___ 1,3 Nal; Apr '12
1951 A-0
Registered
1934 J -J
Registered
12134
1951 31- S
80 Sly '09
1st gold 3s sterling
1940 A-0 94 ____ 94 J'ly '08
Ind BI & W 1st pref 4s
1051•S
Registered
95 _
0 Ind & W 1st pref 5s__d1938 Q10972
§iife" -643- -01;
A-0
Coll trust gold 45
-8773 92
Peo & East 1st con 4s_1940 A -0 8778 Sale 8718
-gfie
9514 9514
11995522 A-0 __9534 9514 Sep '1'4
Registered
Register
1990 Apr
35 , 467f
Income 4s
41 43 40 Sep '12
9332 21 93 9634
M-N 933; 9412 9318
1st ref 4s
1947 J -3 46 50 49 Sep '12
42 5812
Col Midland 1st g 45
8618 8614
8614 Feb '12
5 J-J
952
195
Purchased lines 3 Ms_1
1920 [I -A 93 95 9353
941s
9358 974
Colorado & Sou 1st g 4s_
953: 9912
96
L N 0 & Tex gold 4,,_1953• N 95 _ _ 96
9414
1935 ;11-N 9418 Sale 9418
94 9818
Refund & ext 4 Ms
943
4
9212
04
'11
1953
Jan
61- N
Registered
1001: 10912 10912
10014 1121:
Ft W & Den C 1st g 6s,._1921 .1-D
-1747 -6E 931- 9475 J'ly '12
J -D
Cairo Bridge gold 43
Conn & Pas Illvs 1st g 4s 1943 A-0
7312 7312
51 J-J
74 751.5 7312 J'ne'12
Litchfield Div 1st g 33_ _ 3959
hid- Mali&
1952 J -J
Cuba RR 1st 50-yr 5 g
8412 8718
8512
8512
85
Louisv Div & Term g 33431953 J -J
et Lack & Western—
83 83
J-J
82 gg 83 Aug'12
Registered
10438 100
Morris & Essex 1st 79_1014 :11-N 104 1O[3. 10112 Atui'12
11992531
May'99
F-A
Middle
Div
reg
123
1064
5s
10718
10673
10634
1st consol guar 7s__1915 J -D
10678 10018
"'lg.- -.Ws
Omaha Div 1st g 3s
F-A
7518 Aug'12
1915 J -D 100
11138 Dec '10
Registered
7512 7112
1951 J -J
St Louis Div & term g 38_1
7512 Mch'12
74 77
2000 J -D
___ 90 Mch'12
1st ref gu g 3 Ms
90 90
1951
Registered
73
J
-J
7518
1921
J
-J
11112
_
_
11212.7'1y
'12
NY Lack & W 1st 6s
112 11414
8112 8634
ld
:
e
1951 J-J
8234
GoR
9,51. Aug'12
1923 F-A 10512 10718 10734 May'12
Construction 5s
10712 10734
J -J 83,10113 Oct '99
Isisered
Term & Improve 4s__ _1923 M-N 90 97 98 J'ly '12
98 98
95
51 J -J
19
Spring Div 1st g 3 Ms
100 Nov'00
10218 Feb '03
Warren 1st ref gu g 33s_2000
1951 J -J 83 88 Registered
11512 Aug'11
Del & Hod 1st Pa Div 78_1917 NI-S
0412 9614
1951 F-A 9312 9612 9412 J'no'12
Western lines 1st g 4s_
1917
140 Aug'01
Registered
F-A 9212 _ _ _ _
Registered
1916 J -D -9734 Sale 9712
0734 11, 9733 -g10-yr cony deb 4s
J -D 11234
12 M
Belle)/ & Car 1st Cs
1922 .I -J 10118 WU: 101 Aug'12
iomi Carb
un
1st lien equip g 43s
-611-2 -OW & Shaw 1st g 4s
_ 9412 J'ly '12
08
1943 111-N 9712 Sale 9712
111909325231 M-S *133
55 9712 9934
1st & ref 43
11334 110
Chle St L & N 0 g 5s
1951 J -D 112 Hi 11334 fly '12
9018
8 00 93
• Alb & Sus cony 3 3s ..,.1946 A-0 9018 Sale 9018
—
1951 J -D 111 11234 114 Feb '11
Registered
12114 May'12
12114 1211:
Hens & Saratoga 1st 7s 1921 41- N 119
Gold 3 Ms
1951 J -D
90 Oct '00
8538 87 86 Sep '12
84 91
Deny& It Or let con g 4s,,1936 J -J
J
-D
Registered
J
-J
1936
97'
97
97
Consol gold 4 Ms
9612 9812
Memph Div 1st g 43_ 151
-dif; -021;
-012 Au-g'
-1
1928 J -D
94 95 Aug'12
Improvement gold 5s
9931 J-1) 91
94 991:1951 J -D
Registered
1955 F-A 8134 sale 8112 8132 13 81 90
1st & refunding 15
St
L
Sou
*93
1031
1st
61S
gu
g
4s
101 ___ 10112 Aug'12
Rio Or June 1st gu g 5s_1939 J
10112 10112
925 -dr
6114 94 Aug'12
Ind Ill ec Ia 1st g 4s
1950 J -J
91 :Rio Or So 151 gold 4s_ _1940 J -J
7712 6112 Apr '11
108 10812
_ 108 108
Int & Great Nor 1st g s_1919 M- N
103
Guaranteed
1940 J -J
_ 85 Mch'08
1)513103
J-1)
1038
97
9814 9512 Aug'12
Central
1st gold 5s
Rio Or West 1st g 4s
1939 J -J
8112 82 82 Sep '12
82 885 Iowa
62 6612
Refunding gold 4s
1951
S 62 0312 02 Sep '12
JJa'nne:0122
Mtge & col trust 4s A 1949 A-0 8
78 81
2 _7_8_1_1
76
lamestown
Franklin
&
Utah Cent 1st gu g 4s..a1017 A-0
97
94 9412
U Clearfield 1st 4s
1959 J -D 0212
94 May'12
1917 M- N
up Sep '01
Des Mot Un By 1st g 5s
72 74
72
72
an City Sou 1st gold 3s_ ,,1950 A-0
2:
1995 J -D
eu
opg '11
1.1
9g5
95 -3 9
i9)3
2114., Nov
Det & Mack 1st lien g 4s
:
A-0
Oct
'00
%Registered
63
J,D
1995
0014
Gold 45
-cid" -ill;
4
J-J
973; 18 -EE1-2 166Ref & impt 5s
9712 -513-4 9712
Apr
9812 10012 Kansas
Det Rh/ Tun Det Ter Tun 4 Ms'61 M-N
96
50
9 J -J
_ 19
City Term! 1st
9718 9814 9713 Sep '12
9634 9834
Det T & 1-0 S Div 1st g 4s1041 M • S kw _ fa_ 75 - Feb '12
75 75
110
10134
Erie
&
5s___1937
J
-J
Lalto
W
1st
g
107
Sale
107
10634
'12
1941
J
-J
gen
5s
Sep
103
Missabe
&
Nor
Dul
105
105
2d gold 5s
9
5s___1194451
ldi
J -J 104 Sale 104
1( 104 10414
104 Aug'12
Dui de Iron Range 1st 5s_ 1937 A-() 10312
104 107
10414 10512
North Ohio 1st gu g
A-0 10414 10112 1004 J'ne'12
1937 A -0 103 ___ 10612 Mch'08
-• Registered
(044 106
Len
Van
N
Y
1st
54s_1940
J-J
10112
104%
gu
g
4
10438
Aug
'
11
J
-J
Feb
'11
1916
104
6s
• 2d
10413 10412
Registered
1940 J-J
10412 MaY'10
1937 J -J
16E12 jai
Out So Shore & Atl g 5s
Vail (Pa) cons g 43_2003
97 9314
N
Alrg'
'1.‘2
97 Aug'1'
10
512 j
110
110 it2i, Lehigh
igin Jot & East 1st g 5s1941 111-N
113 114
113
113
11614 11858 Leh V Ter Ely 1st Cu g 58_ 1041 A-0 113
19:30 N1-S
116-34 117 Aug'12
rie 1st consol gold 7s
1941 A-0 110
Registered
11118 Dec '11
10112 J'ne'11
N Y & Erie 1st ext g 4s_1947 51-N
foil;lag
Leh V Coal Co 1st gu g 5s 1033 J -J 10612 16634 10612 Aug'12
1910 NI- S
10114 Mch'12
10414
2d ext gold 5s
1933 J-J
1921 11-S
10212 Mch'12
10212 10234 Registered
3d ext gold 4 Ms
1st int reduced to 4s
1933 J-J
1920 A -0
4th eat gold Os
—_- 105 Feb '12
105 10514
---Leh & N Y 1st guar g 43_ 1945 11I-S ---- ---- 93 J'ne'12
- -611;
1928 J -D 96 101 100 Jan '12
5th ext gold 45
100 100
-1945 Ni- S ---Registered
_—
11614 11534 J'ne'12
NYLE&Wlstgfd 7s_1920 NI- S
11534 11612
1914 A-0
El C & N 1st pref 6s
ioi'2 Feb '10
8712 8778 5712
8778
Erie 1st con ir 4s prior__ _1996 J-J
8712 90
---14 A-0 ---Gold guar 55
h 119931
(03 103
Registered
1996 J -J
85
103 Mch'12
8812 J'ne'12
80 881.
Island7712 19 7658 7934 Long island—
1st conso1g•en lien g 4s_1996 J -J
7638 7712 7634
10014 11033
(4-J 109 112 10914 Aug'12
'1st
1 consol gold 5s
1996 J-J
Registered
7712 77 Apr'12
77 77
0014 Meh'12
1st consol gold 43
81931 Q-J
8912 16 8318 91
1951 F-A 8912 8934 8912
Penn coil tr g 43
9614 9614
1938 J-1) 9112 94 94 Sep '12
General gold 43
94 902
8638 31 85 9118
1953 A-0 8612 8712 8534
50-year cony 4$ A
Ferry gold 434s
1922 M- S 9612 100
99 98
98 J'ne'12
1953 A-0 7812 Sale 7812
7812
Series B
8 7514 80%
do
J -D 91 97
0914 Oct '06
110 Apr '12
10834 11034
Buff N Y & Erie 1st 7s 1916 J -D
G
enlidile4d
9 gold 45
2
19
92 -156193
42
9 M- S
93 9512 J'ne'12
112 114
Chic & Erie 1st gold 5s_1982 11-N 111 1l11 112 Sep '12
Debenture gold 55
J -D
10312 10412 Dec '08
109 100
Cie,
/ & Mahon Val g 5s 1938 J-J 10834 __-_ 109 May'12
Guar ref gold 43
1938
51- S :4
93 9733
Registered
'95
95 Sep '12
Registered
1
199
94
3
19
4 111-S
12334 11412
95 Jan '11
Long Dock consol g Os,. 1935 -0 12218 _
12412 Mar12
N Y B &M B 1st Lang 55 1935 A-0 10412 106 10738
11014 Nov'06
Coat & RR 1st cur gu 6s..1922 ,11-N 10738 10712 10738 Sep '12
NY&RB Istg 5s
1927 59-S 103 16S3- 104 J'ly
fail;idi
10134 10134
Dock & Imp 1st cur Gs_1913 J -J 10014 101 10134 Mch'12
Q-J
Nor
Sh
B
Aug'12
10312
lst
con
g
1946
51-N
____
10412
gu
105 10714
10334 104
105
5s.o1932
105 Aug'12
NY & Green L gu g 5s
Louisiana & Ark 1st g 5s
1921 M-S 91 90 94 Aug'12
9314 9412
103 105
Y Sus & W 1st ref 5s.„1037 J -J 100 10312 103 J'ly '12
Louisville & Nashville—
1037 F-A
8212 ___ 10014 Dec '06
2d gold 44s
11712
J
-D
11212
General
11312
112
11314
gold
1930
1131:
87
1940 F-A 87 88 87
2 87 90
6s
•
General gold 5s
11112 11218
fle5d
s
unl
Go id
1937 M-N 111 11114 11218 Aug'12
N 10812._ 110 J'no'12
110 110
•
Terminal 1st gold 5s_1043
9718
9958
98
9814
J-J
9712
9814
1940
51
May'12
gold
1940
11112
43
5s
A
-0
1st
ext
of
N
J
11112
11112
Mid
J-J
0818 9838
90 9718 9818 fly '12
Registered
1942 J -D 9712 ____ 9912 Aug'12
0912 10212
Wilk & Ea 1st gu g 5s
10858 11012
Collateral trust gold 5s_1
1931• N 10712 109% 110 Aug'12
Ev & Ind 1st con gu g 63_1926 J -J 11018 112 106 May'12:72 108 106
11012 11138
1919 J-D 110 1101: 11012 Sep '12
E H 63 Nash 1st g 6s
11112 11238
Evans & T H 1st cons 69_1921 J -J [1012___ 112 J'ly '12
10418 105
10434 May'12
1942 A-0
L Cln & Lex gold 4 34s__:1931 M-N
102 102 J'ne'12
10178 1024
1st general gold 5s
12014 121
1923 A-0 1073
1930 J -J 11813 12012 1204 Aug'12
N 0 & M 1st gold 6s
.
2
108, Nov'll
• Mt Vernon 1st gold Os
1930 J-J
11712 11712
11712Jan '12
N 0 & M 2d gold 63
95 J'ne'12
Suit Co 13ranch 1st g 53_1030 A-0
05 95
Paducah & Hem div 4s_1946 F-A
9418 9314 Aug'12
9314 90
96
96 90
2 96 995
Viorida E Coast 1st 4 343_1959 J -D
4 10714 10534111(01'11
Pensacola Div gold 63_1920 M-S 165392 Aug'10
ort St U D Co 1st g 434s,.1941 J-J
1928 J 11212113
St Louis Div 1st gold 65_1921 /11- S 11012 11212 J'ly '12
7612 -771-2 76 Aug'12
Ft W & Rio Gr 1st g 45_
78 8112
/11-S 6918 fil8 6914
of 1882 1st 5s_1913 A-0 99 ____ 9912 Aug'12
2d gold 3s
Clot II &
9912 100
6915 6934
6914
93
Atl Knox & Cln Div 4s_119
59
5 M-N 0214 921. 9218
9214
98
9 9158 11212
•-)1reat Nortnern—
11212
Alt Knox & Nor 1st g 58_1946 J -D 11012
9534 Sale 9512
9534 221 9512 9818
11212 MaY'12
B & Q coll trust 45_1921 J-J
1921
Hender I3dge 1st s f g 65_1931 NI- S 105
Registered_h
*95 _ _ 9558 Sep '12
9553 9838
100 Apr '11
- -6EKentucky Cent gold 4s_ _1987 J-J
100 16j12 10038 10038 13 10018 10158
9212 93 92 Sep '12
1st & refund 4 Ms ser A 1961
10414 10442
10458
1961
L&N&M&1111stg4301945 IM- S 10218 __ 10458
Registered
8878 90
1933
90 5712 -1718
00 Aug'12
-di- -663-4 L & N-South XI joInt 4s_ _1952 J-J
St Paul It & Man 43
Registered
1933 J-J 123
95 Feb '05
12534 Sep '12
Q-J
1st consol gold 63
12434 12534
10814 10933
1101 10814 Sep '1::
1933 J -J Ia._ mi.122 Sep '12
122 122
N Fla & S 1st gu g 5s__ _8
952
37 F-A
Registered
_ 19
10013
10012 10012
1o0i2 10012
10353 Aug'12
N & C Bdge gen gu g 434s 1945 J-J 10012
Reduced to gold 4 Ms1933 J-J
•
10358 10512
112 112
112 Mch'12
1933 J -J 102 ___ 10334 J'ne'09
Pens & Atl 1st gu g 6s___1921 F-A 11012
Registered
10918 11118
S & N Ala con gu g 5s.....1936 F-A
11058 10918 J'ly '12
Mont ext 1st gold 4s_1937 -D 0614 97 97 Sep '12
4
-6E12 -1/E193 J'ne'll
904 Mat'12
9114 9114
Registered
1937 J -D
L & Jeff Bdge Co gu g• 4s_ _ _1945 51-S
BONDS
N. Y. STOCK EXCHANGE
Week Ending Sept 20.
Price
Friday
Sept 20
• _
D
y
E
N
:
G
-
MISCELLANEOUS BONDS—Continued on Next Page.
Street Railways.
United fly's St L 1st g 4s___1034 J -J
7612 80
10112102
-- 7712fly '12
St Louis Transit gu 5s___1924 A-0 83 84 83 Aug'12
• 83 85
8412 0812
7634 8158 United RRs San Fr s t 4s__1927 A-0 64 6612 65
2 6112 70
65
90 9712
5112 5934 Va By .33 Pwr 1st& ret 5s___1934 J -J ____ 9012 9612 Aug'12
99 99
Gas and Electric Light
Atlanta G L Co 1st g gs___1947 JD 104 m.—
idg - 108 Bklyn U Gas 1st con g 5s__1945 11-N 10012 10678 1061-4 1661; i Rid- id'iiii
81 80
Buffalo Gas 1st g 55
60 6558
1947 A-0 65 6558 (15 Aug'12
70 8014 Columbus Gas 1st g 5s
1932 J -J
;
i $filfiria
Detroit City Gas g Os
J.
-J Ma - gisiti
.lor hid- ---i id:
Del Gas Co con 1st g 5s
1918 F A
9558Sep '08
-65- -961-4 Det Edlson 1st coil tr 5s 11993233 J -J idi- idi 7415 90
:
312 15 105
334 103
0612
Eq 0 L N Y 1st con g 53_1932 11-S _-- 10038 10
1g0
Aeup
2S
96
112
Gas & Eleo Berg Co c g 5s_1949 J -D 101
103
Or Rap Gi L Co 1st g 5s
1915 F- A 99
8212 8312 8412 J'ly '12
8334 8612 Hudson Co Gas 1st g 55
idF2;
1949 11-N 10358 __9812
Kan City(Mo)Gas 1st g 5s 1922 4-0 07l2 ____ 9812
1 Ohls 693i:
week.
a
Due
bld
and
asked
this
Jan.
9
d
latest
Duo
Due
April,
Feb.
price
Friday;
11 Due July. 8 Duo Aug. a Duo_ 00t, 8 ODAIR.1$414,--,
No
Street Railway
MInneap St 1st cons g 58_1910 J
New Or! fly & Lt gen 434s_1935 j-J
N Y Rys 1st H E & ref 4s temp J -J
Temporary ad) Inc 5s----- A-0
•N
Portland fly 1st & ref
Portland Gen Elm 1st 5s_ _1935 J J
St Jos Ry, L, H & P lstg Es 1937 59-N
St Paul City Cab cons g 55__1937 J -J
Third Ave 1st ref 4s ctfs
Ad) Inc 5s interim ctts
Tri-City Ry & Lt 1st s f 5s_1923 A-0
Underground of London 55_1920 NI-N
434s
1933 J -J
Income Os
1948
Union Elec (Chic) 1st g Os,, 1945 ;co
United Rys Inv let lien coil
1926 11-N
trust 5s Pitts issue
102 10218 102 Sep '12
85 8712 8714 J'ly '12
7714 Sale 7634
7714 66
5618 231
56 Sale 5538
10034 — 99 Feb '12 ..-__
-_
96
- -98- No-ai
105
105
.ale 105
8114 Sale 81
8134 145
105
71
7034 Sale 70
9778 9818 9878 Sep '12
98 Apr '09
95
_ 96 95
8814
5
-EE
8812 8814
84 Oct '08
100 22 Oct
---2: iza-4
BONDS
N. Y. STOCK EXCHANGE
Week Ending Sept 20.
735
New York Bond Record-Continued-Page 3
SEPT. 211912.]
b
Week]
Range or
Last Solt
Price
Friday
Sept 20
QT?
43
Range
Since
Jan. 1
High No Low High
aid
A3k Low
Itiranila RR-Sou lines 4s.1936 31-N ____ 86
2512 Apr '02)
-LT-Lexicon Cent Inc g 3s tr mots.
1917
Equip de coil g 5s
- -1Z)
- _
- Me-11'
Uex internat 1st con g 4s 1977 M-S
S
79 Nov 10
1977
Stamped guaranteed
129 129
192i7 J-1) 120 1;31: 129 Feb '12
Minn & St L 1st gold 7s_ _192
11018 Aug 11
1921 A-0
Pacific Ext 1st gold 8s
lul 1,3414 Sep '1:
101 idS
1934 31- N
1st consol gold 53
co 6078
1949 hi- S 5)78 GU: 61 Aug
1st and refund gold 4s
76 821, 7714 J'ly
77 81
Des M & Ft 1) 1st gu 4s_1935 J-J
9012
9734
0678 Sale
10 DO
M StP&SSNI con g 4s lot gu.1938 J-J
1941 91- N 95 9114 9714 J'ne
9714 9714
* 1st Chic Tercn1 s f 4s
9614 9614
9612 _ _ 9614 May'12
MSSM&A 1st g 4s int gu 1926 J -J
9812 &Leh'11
Mississippi Central 1st 53_1949 J -J
4 97 93
-1N39314 0234
Mo Ran & Texasist gold 4810110 J 1)
10- A 80.8
- Sale 8058
SO 841,
8052
2d gold 48
Is 9912 1021:
1944 61- N 190 10012 9912 100
011)
1st ext gold 5s
7712 811:
2004 NI- S ._ 77,>8 7712 Sep '12
1st do refund 48
8534 41 8514 8914
gfi. 87
8514
Can sinking fund 4 31s_ _1036 J-J
. 78
78 J'ly '12 •_._ 76 78
St Louis Div 1st ref g 4s_2001 A-0
10478 10538
1(1112
_ 10473 Sep '11
Dal & Wa 1st gu g 5s_
1940
83 "ie 88 91
Kan C& Pao 1st g 4s.. 199() F-A 88 Sale 83
1.0C18 110
10518
Mo K & E 1st gu g 5s
1042 A-0 106 107 10618
M K & Ok 1st guar 53_1942 II-N 10313 105 10534 J'ly '1: _ 10514 10712
M IC do T of T 1st gu g 5s_1042 NI- S __ 101 101 Aug'12 _ 101 104
101 10378 Feb '12
10334 19379
Sher Sh & So 1st gu g 55_1943 J-1)
_ 10514 10373 Mch'12
10378 10514
Texas & Okla 1st go g 5s 1943 NI10512 it 10178 10018
10112 105
Missouri Pao 1st cons g Os _192() NI-N rig
091:
c 0834 10034
Trust gold Is stamped__c1917 M-S 9912 9934 9912
07 97
a1017 Ed- S 98 __- 97 May'12
Registered
0634 10034
1st collateral gold 5s____1920 F-A I:1612 9414 9718 Sep '12
1920 F-A
Registered
7-34 14 70 "7514
1045 ,11-S 7234 Sale -713-4
40-year gold loan 4s
0613
May'll
3d 7s extended at 4%._1038 i1-N
8614 41 81 -895-2
1059 11-S 86 Sale 8578
1st do ref cony Is
92 Sep
92 92
Cent Br fly 1st gu g 4s 1919 F-A 93 81 81
id. 81 May'12
1948 J -L) Cent Br U P 1st g 4s
110 Meh'05
Leroy &OVAL 1st g 5s_19213 J-J _
9318 904
-03,-4
9234
Pao 11 of Mo 1st ext g 4s..1938 10-A
2d extended gold 5s_1938 J -J __ 103 10812 May'l1
101
106%
StL Ir NI&S gen con g 5s_1031 A-0 10013 1041; 104
.III Sep '07
Gen con stamp gu g 5s_1931 A-0 10213
70
78 79 79
7113 -03-4
Unified de ref gold 4s 1929 J-J
8078 80 Mch'12
192.. J-J
Registered
78 SO
8212 84
Ftiv & G Div 1st g 48....1933 31-N 82 83 83 Sep '12
_
Verdi V I & W 1st g 5s 1026 it-S __- 100 10212 Jan '10
1927 J -D 11613 11834 119 J'ly '12
ifi 121
Mob & Ohio new gold 8s
1.1834 11634
1st extension gold Os.. ..h1927 Q- J 11418 11412 11534 Feb '12
1938 M-S 8534 8712 8534
General gold 45
85 8734
8534
Montgom Div 1st g 53_1947 F- A 107 110 10814 Aug'12
10734 11034
8332 8338 Aug'12
82 833
St L ds Cairo coll g 4s___e1930 Q-F
9312 Mch'll
Guaranteed gold 4s
93
1031 J -J
.10218 20 102 104
Mashy Ch do St L 1st 7s 1931 J -J 10218 Sale 102
LI let consol gold Is
10938 10978
10978
1928 A-0 10912 _
10978
11578 Nov'10
Jasper Branch 1st g 6s_1923 J -J
McN1 M W & Al 1st 63_1917 J-J
107310734 Mch'12
4 1613-4
113 J'ly '04
T & P Branch 1st
__ _1917 J-J
901: 19 -E.- "Et;
Nat Rys of Mex pr lien
4 3s.1057 J -J -tiO32 Yale 9038
6s.
861'2
8
wtie
8012
78
A-0
8012
78
Guaranteed general 4s..1977
09 100
Nat of Max prior lien 4;is_1926 J - J ....100 99 Mch'12
12 80 7712 Aug'12
7713 80
1st consol 45
1951 A-0
2 8812 05
89
80 Sale 80
N 0 Mob &Chic let ref 55 1960 J-J
NO &NE prior lien g Os_p1015 A-0 104 10,2
8 -gf18712
3 8813
New Orleans Term 1st 43_1953 J-J ____ 8714 8713
8512 86 8512
8534 25 8512 8812
N Y Central & H B g 3;4s..1997 J-J
85 -8414 Sep '12
1097 J-J
8114 8714
Registered
93
,193 M-N 91 93-14 0278
9214 9614
Debenture gold 4s
93 May'12
_
193 31-N
Registerecl
93 93
80
38 7912 85
98 F- A 7934 Sale 7913
Lake Shore coil g 3 As __ ..1 93
78 84
1908
Registered
-- 7844 78 Aug'12
ig 79 79 Sep '12
78 8212
Mich Cent coil gold 3 Ms_1908 F-A
7734 7912
7712 78 Sep '12
1998 F-A
Registered
'12
J'ne
8
99'
100
9918
Beech Creek 1st gu g 4s 1936 J -J
9918
2
g1
1
99 May'll
97
Registered
1936 J-J
---2d guar gold 5s
1936 J-J 100
Registered
1936 J -J
Beech Cr Ext let g 3 s..6195l A-0
---- ---- -eV "iffi Apr '09
Cart ds Ad 1st gu g 4s
1981 J -D
---- ---Gouv & Oswe 1st gu g 5s_1042 J -D
---- ---Moh & Mal 1st gu g 4s
1991 Ed- S _ _ 9812 -691; mciii
---- ---NJ Juno R guar 1st 4s_1988 F-A 98 100 105 Oct '02
---- -F-A
1988
Registered
May'12
.
8842 89
N Y & Harlem g 3 Ms
200. At-N 8718
2000 31-N
Registered
jog' Oct '09
N Y & Northern 1st g 5s_1927 A-0
_ _ _ 96 9778 Aug'11
N Y de Pu 1st cons gu g 4s1093 A-0
Nor & Mont 1st gu g 5s_1916 A-0
Jan '00
Pine Creek reg guar 6s
1932 J -D 120 ::::
4
4 167310113R W & 0 con 1st ext 58_h1922 A-0 19632_ 3061-4' ScP
1:;13 101 Mch'12
101 101
°ewe & 11 20 gu g 5s .._e1015 F-A
104 J'ne'10
RW&OTR1stgug5s_1018 M-N
0633 Sep '1-.•
4
_
- -931Rutland 1st con g 4 3-0_1941 J -J
-9C38
83 91 811.Sep '12
84 86
Og&LCham 1st gu 4s g 1848 J - J
92 - J'ne'09
Rut-Canad 1st gu g 43_1940 J - J
_ 115 J'ne'09
St Lawr & Adir 1st g 5s_1996 J-J
11912 Mc8412
11912 11012
1096 A-0
2d gold Os
_ 100 9978 Nov'11
Utica & 13Ik Riv gu g 45_1022 J-J
8712 -078
Lake Shore gold 3 s_.._1007 J-D 8712 88 83 Sep '12
1907 J-1) 8634 '
Registered
8714 8834
11 18 8734 XIS"'12 .•
25 9134 9412
92
1028 If- S 92 Sale 9134
Debenture gold 49_
9178 78 9112 937s
1931 11-N 9178 Sale 9112
25-year gold 95
0253 Apr '12
9262 9313
1931 h1-N
Registered
_
Ka A & G
1 it gu c 58.1938 J- J
111-2 Me-h-'11
Mahon C'l RR 1st Is _1934 J -J 110
105 Apr '12
fog' 105
Pitts & L Erie 2d g 53_ _81928 A-0 1(1512 _
13018 Jan '09
Pltts MeIC do Y 1st gu 68_1032 J -J 121
12314 Mch'12
12314 12314
2d guaranteed Os
1934 J -J 121
McKees & 11 V 1st g Os_1918 J -J
111 111
Michigan Central Is
1031 it- S NU - 111 111 Jan '12
119 J'ne'06
Registered
1931 O-M '107
08 Apr '12
4s
98 08
1940 J-J
9812 Nov'll
Registered
1940 J-J
_
J L & S 1st gold 3)is_ _1951 M-S
- ---- 90 J'ne'08
8812 Mch'12
1052 M-N ---- 1st gold 3 Ms
-861-2 -83"3-4
8914 8812 Aug'12
8812 92
20-year debenture 4:3_1929 A-0
9838 10 9712 10053
N Y Ohio &St List g 43_19371937 A-0 9712 9734 9734
0934 Mch'12
Registered_
A-()
99 9934
1931 11-N 87 8914 59 J'ly '12
Debenture 4s
89 01
"ffa;
--
Range
Since
Jan. 1.
--High No Low High
Bid
Ask Low
NYC&H R--(Com9831 101
9958
06 99 9834
West Shore 1st 4s guar_2361 J -J
97 9812
98
23(31 J-J ____ 98 93
Registered
_ N Y Cent Lines eq tr 4 3i5 1923 J -J
---- 10013ny '11
N Y New Haven & Haut91 92
Non-cony deben 4s
J -J ____ 92 91 Sell,'12
_ 91 9313
Non-conv 4s
Al-N _ 911, 9112 Sep '12
Cony debenture 3 14s_ _ 19
J
tki 925'2: 9034 . 9031 Ii 00 9453
35
56
995
12773 13212
Cony debenture Os
12838
J -J 128 12834 128
Harle m 11-Pt Ches 1st 4s_1
09 9918
9932 99 Sep '11
944 111-N
1958
B & N I Air Linc 1st 4s 1055 F-A
_ 9912 9912
991. J'ne'12
9114
9014 9353
Cent New Eng 1st gu 4s1051 J-J
0014 Sale 1014
_ 114 113
Housatonic R cons g 5s1937 lit- N
115 Aug'12
NYW'ches&131st ser I 4 3-4s '46 J -J
9053 Sale 9914
9958 L; 93 10014
N II & Derby cons cy 55_1918 31-N 10212
107 Aug'0::
New England cons 5s..
1945 J-J 115
9912 166'Cons°, 4s
J-J
2
_ -019958
Providence Scour deb 4s_1
84 84
5 31-N
gg 84 J'ly '12
957
194
NYO&W ref lst g 43_81992 NI- S 02 041: 92 Sep '12
92 96
9212 9213
Registered 65.000 only_g1092 M-S
9212 J'ne'12
8958 8938
General 4s
J -D
8953 Feb '12
90 10018
Norfolk Sou 1st & ref A Is 1981
A 98 100 MO Aug'12
55
10212 10234
Norf & South 1st gold 5s 1941 hl-N
10234 Apr'12
Non & West gen gold 133_1931 hi-N 121
12333 12513
12512 J'iy '12
124 12638
Improvement & ext g 6s_1934 F- A 12212 1283i 12412 May'12
New River 1st gold Os_.1032 A-0 12134 __ 124 May'12
124 124
N& W fly 1st cons g 4s_1995 A-() 9n4 siie 9672
9714 19 9612 9978
Registered
100,, A-()
98 Jan '11
9134 "fir
DIv'l 1st 1 & gen c 4s_ _1044 J -J ____ 9218 9212 Sep '12
1071.118
10-25-year cony 4s_ __ _1932 J-1) - - 1171: 11514
11514
10-20-yr cony 4s full pd rct
108 -117
'11638117 11634 Aug'12
Pocah C & C Joint 43_ _1941 1-15 88 90 91 Sep '12
9072 94
CC & T 1st guar gold 5s.1922 J-J 10614
10638 10638
10633 Mch'12
Selo V & N E 1st gu g 43_1089 hi-N 93 ___ 06 Sep '1:
95 9813
Northern Pac prior I e 4s 1997 Q-J
98 983-4 98
9838 21 13753 10034
Q-J
Registered
9714 Sale 9714
9714 9912
9714
1947 (.1-F 69 Sale 6834
General lien gold 3s____8209
6814 7013
69
Q-F
68 68
Registered
68 J'ly '12
St Paul-Duluth Div g 4sa_2
7 J-1) 9512
948
199
9512 9612
_ 03 Sep '12
Dul Short L 1st gu 5s___1916 NI-S 10012 _ _ 100 J'Iy '12
too too
6.12 11434 Aug'12
St P & N P gen gold 68_ _1923 F-A 11438 11
11434 11512
Registered certilicates_1923 1.1-F 11234 11434 11533 Aug'11
St Paul dc Duluth 1st 5s_1931 F-A 10914 - 107 Jan '12
1(37 107
2d 5s
A-0 10258
10228 Sep '1:
10233 10238
J -1) 9134 ---- 94 J'ne'll
1st consol gold 48
9234 94
ash Cent 1st gold 43
87 Q-31 89 ____ 9118 Apr '11
618
994
19
W_1
Nor Pao Term Co 1st g (fe_ _1933 J-J 11113
111 iff3;
111 Aug'12
8910 9234
0514
Oregon-Wash 1st & ref 42 .1001 J-J
9014 gide 90
10312101
Uslacille Coast Co 1st g 5s_ .1046 J -D 10212 10411 104 J'ne'12
A- enna RR 1st real estg45-1923 31-N 10112 10134 10014 Sep '12
100 102
108 110
Consol gold Is
1919 Si-- -- _ 110 Mch'12
Consol gold 45
1943 M-N 101
101
101 104
_ _ 101
9912 10018
Convertible gold 3 3-4s
1912 31- N *9978 100 9973 Sep '12
Convertible gold 3 Hs_01915 J -D 9634 Sale 9634
97
9634 9773
01915 J-D
Registered
97 0712
97 J'ly '12
10212
31-N
Consol gold 45
Sale 10212 10314
10212 10418
42 31- S :7-10918 10018 Aug'12
04
9958 10013
Alleg Val gen guar g 4s 1198
DRRR& Bge 1st gu 4sg1936 F-A
.
Philo Balt & W 1st g 4s_1943 31-N 98 100 "go- J'11.17
99 foil;
102 Jan 'Os
Sod Bay & Sou 1st g 5s 1924 J -J
9513 _ U
Sunbury & Lewis let g 4s 1936 J -J
IOU itifi2
10112
U N J RR de Can gen 4s 1044 M-S
1021.104
103
Penna Co guar 1st g4;0_1921 J-J 10112....102 103 10213
102 - 103
102 Aug'12
1921 J -J
Registered
8813 8014
80
Guar 3 3.4s coil trust leg 1937 MS 8812 _- 89
88 89
Guar 33-4s coil trust ser B.1941 F-A 488 ___ 89 Aug'12
89
9758
Trust Co cents gu g 3;0_1916 31-N *9712 _
9712 9814
88 8814
- 88 Mch'12
Guar 3 34s trust etts C_1942 J -D 86 8834
Guar 3 34s trust °US D_,,_1944 J
8734 Jan '12
8734 8734
Guar 15-25 year g 48
96 9812
1931 A-0
-- id 9631 Aug'12
9612 Dec '11
Cln Leb de Nor gu 4s g
1942 31-N
Cl & Mar 1st gu g 4 40_1935 11-N 1E12 iOS" 110 Jan '05
Ci & P gen gu g 4 3is ser A 1942 J-J
- --- 10734 Dec '11
Series 13
1942 A-0 ---- ---- 10934 J'ly
'00
Int reduced to 30_1942 A-0 ---9114 9114
- 9114 Feb '12
Series C 31,is
9114 9114
1948 M-N 9013 9114 9114 May'12
Series D 3 3,is
9018 9314 00 May'08
Erie 8: Pitts gu g 3
J -J
9 F-A
50
13_114
9113 May'12
9112 9112
9018 J'ly '12
Series C
1940 J - J
9018 9018
GrR &lex lstgug 40_1941 J -J
-- 104 104 Aug'12
104 105
100 May'12
100 10114
Pitts Ft W 63 C let 7s_1912 J- J
10378Feb:11
1912 J - J
.2d 73
101 Dec '11
3d 7s
N
-U
A126
109 May'10
Pitt,s Y & Ash 1st con 5s3
17
192
_1
10134 10213
10218 J'ne'12
Tol W V de 0 gu 4 hs A__1931 -.1
Series B 4,3.8s
1933 J -J 101 ___ 100 J'ly '10
Series C 4s
9512 4
10114 iO6319428-5P
A-0
0 & St L gu 4;is A 1940
- 11'414 10414 J'ly '12
10114 107
Series B guar
___ 106 10134 J.IY
If
Series C guar
'11
106 J'ne'12
_
N 96 0812 9712
Series D 4s guar
111999444225 -U
97 1(9
„1 197
,
Series E 3)is guar g,, 1949 F-A 9478 _ _ 9514
5 9313 9538
..`4
1953 J -D 96 9734 07 J'ly '12
Series F gu 43 g
97 97
1957 t-N
Series G 4s guar
97 99
97 J'ly '12
OS
11313 Nov'11
_
C St L & P 1st con g 5s
2_ 109 biay'll
1921 Q-F 1661Pea & Pek Un 1st g 6s
-- 31921 31-N 91 E 9312 Jan '11
2d gold 4 3is
6034 Apr '12
_
Pere Marquetto-Ret 4s-__1955 J 763-4 -663-4
5233 54
6312 --- 5238 Aug'12
Refunding tuar 48
9958 9953
9958Feb '12
D 96
J -j
Ch & W Ai 5s
1j
55
192
May'12
10838
108 10833
Flint de P hi g Os
- 107
96
1st consol gold Is
fl
tci 9634 96
5 06 NO
N°
7-0
Pt Huron Div 1st g 55_111999332090 9712 9712 May'12
9712 0712
Sag Tus & H 1st gu g 43_1931 I-A
8414 80
8612 88 May'12
Philippine By 1st 30-yr s f 48237 J -J
113 11314
Pitts his & L E let g 5s
113 J'ly '12
1940 A-0
1st consol gold Is
1943 J - J
11314 Nov '11
9612 llC 06 -613-1
pop eading Co gen c 4s
-.1 -663J97 J.1
99
3 Sale 9614
19
9633 9814
9638 J'ly '12
. Registered
11,
9113 981
Jersey Cent coil g 4s
1951 A-0
"97 9612 Aug'12
Atlan City gu 43 g
1951 J -J
95 -_
Qt Jo & Gr Isi 1st g 4s__,,_1947 J -J
87
_ 87 Sep
86 8912
11812 11932
L & San Fran gen lc 8s 193I J -J 11812120 11812 Sep '12
10412 10812
General gold 5s
1931 J-J 10112 10711 10412 Sep '12
8512 8412 Aug'12
8112 8834
St L & SF RR cons g 43_1996 J-J
8412
8412
8334 135
_Gen 15-20 yr 5s
8312 8812
927 Al
N 9034 - 100 Oct '11
A--O
Southw Div 1st g 53_ 194
7731 Sale- 7
1951 J-J
Refunding g 43
7814 28 -H34 8134
1951 J-J
Registered
8034 Meh'11
BONDS
N. Y. STOCK EXCHANGE
Z
Week Ending Sept 20.
Price
Friday
Lept 20
117,:ce:
Range or
Last Said
43
-
1-
MISCELLANEOUS BONDS-Continued on Next Page.
Gas and Electric Light
514 se
0434
11
5 1
5
.
Aupc;122 ______
Kings co El L & P g 5s____1937 A-0______ 110
1997 A-0
15
Purchase money 6s
1 __
1812 Dec '11
1922 11Convertible deb Gs
--------8812 Dec '11
Ed 211 11 Bkn 1st con g 49_1939 i.'
10214
19214
4
16:5162
t
,
Q4
Lao Gas L of St L 1st g 58-81919
10112
1934 A-0 1st 10112 101
2
Ref and ext 1st g Is
9038
1
Milwaukee Gas L 1st 4s_ _ _ _1927 11-N 9038 91.8 908
10614 Apr '12
1948 J
Newark Con Gas c 58
10313 16
2 103 103
02
1948 J -D 19
NYGELII & P g 5s
88
36
Purchase money g 4s
1949 F-A 87 Sale 87
11313 Meh'12 __
1995 J-J
Ed El III 1st cons If 5s
2 10212 Mch'12 .__
Ny & Q El L&P lat conic 5,4_1930 F-A jai- iiiii1921 M-N ___-_-_ 9212,Ply '08 -N Y & Rich Gas 1st c 5s
Pacific U & El Co Cal G & E
9412
2
Corp unifying 1.3 ref 53_1937 M-N 9468 9,534 9413
Pac Pow & Lt 1st & ref 20-yr
9312 Sep '12
1930 F -A 03
Is Internat Series
1949 M-S 10219 101 10238 J'ly '12
Pat & Passaic G & E 5s
.
Gas and Electric Light
10414 10512 Peo Gas & C 1st con g Os___1943 A-0
1947
S
Refunding gold Is
1 12 117
1947 '0-S
Registered
-_
Ch G-L & Cke 1st gu g 5s_1937 J-J
2 103 1011Con G Co of Oh 1st gu g Is 1930 J-D
Ind Nat Gas & 011 30-yr 5s '36 11-N
10034 102
8978 9038
Mu Fuel Gas 1st gu g 55....1947 11-N
1947 Ni-N
Registered
10614 10614
10253 10114 Philadelphia Co cony 58_1010 F- A
87 8912 Stan Gas& Bice cony sf 6s _1926 J-D
1121211313 Syracuse Lighting 1st g 5s_1951 i-1)
1954 J-J
102 10212 Syracuse L & P Is
1949 Ai- S
Trenton G & E 1st g 5s
__
Union Elec L & P 1st g 5s 1932 54-S
1933 M-N
Ref & ext 55
94 9638
1950 J -J
Utica El L & P 1st g 5s
1937 J -J
Uttea Gas & E ref Is
0312 05
1023g 10238 Westchester Light'ir g 5s.._1930 J-1)
115 117 117 J'ly '12
1013;
10138 Sale 10113
103 Feb '09
10234
10214
_ 103 103 fly '12
8318 89 93 Mch'12
101 10114 Aug'12
166- FeEs-'1.2
10014 Sep '1:
101 Dec '11
8512 J'ne'll.
_ _ _ 109 Feb '01
iol
100 _ _ 10J12 Aug'12
9634
_ 97 J'ly '12
103
__
_ jolt; Dei3-ii
99
10538.
105 1051 losas
108
2 101
ifici310912 _
11614 11713
18 10118 10212
4 kiiii
11 1-62-11011.103
93 93
10038 10114
jai- 105
WO 1012 -i(i -iii13kW le11;19612 9812
:
4'
4 faill; 1063-
No price Friday: latest bid and asked. a Due Jan. 5 Due Feb. s Due May. o Due June. 3 Due July. o Due Oct. p Duo Nov. a Option, sale.
Vo]L. Lxxxxv.
New York Bond Record-Concluded-Page 4.
BONDS
t1
N. Y. STOCK EXCHANGE
Week Ending Sept 20.
Price
Friday
$ept :0
Week's
Range or
Last Sat::
.,
;F,
,
sf"••
Range
Since
Jan. 1
N.
BONDS
Y. STOCK EXCHANGE
Week Ending Sept 20.
Price
Friday
ept 20
W -ck'.
Range or
Last Sale
aa
Range
Since
Jan. 1,
Bid
Ask Low
MO No. Low High
Bid
Ask Low
High No. Low High
St L & San Fran (Cm)
16k.,68 10,58
1 10412 10778
1039 11-N
abash 1st gold Is
K 0 Ft S & M con g es_ _1928 .11-N 111; lit 11534Xly '12 ____ 115 113
.12 1G0
tA)12
9,1- 17 06 10012
2d gold Ss
1030 F-A 61)
79
1. 77 8013
K 0 Ft S & M By ref g 43_1936 A-0 781: Sale 7812
00 J'ne'12
Debenture Series 11
1039 J-J
00 100
Reestered
193 A-0 ____ ____
..7712fly '12 -- 7712 771,
1st lien equip s Id g 5s
1921 11,-S
0814 100
9834
M It & B 1st go 5s_1922 A-0 - - - - _ __ 10313.4'1y '.e4 ._ _ _ 1.03133107,1,
HO
80 _ _ 83 Dec '10
1st lien 50-yr g term 4s 1954 J-J
9914 100
Ozark 64 Ch C 1st gu 5s g_1:;1' A-09912Sep '12 ._
6034 Sale 63
6,218
1st ref and ext g 48
11 90 9212
1956 J-J
66-1-2 -7238
:'0
,,-7,34 Sale; 10
St L S W 1st g 4s bd etts_ _1989 If- N
67 Salo 67
1
67
Cent rust Co ctfs
6438 71
8018 __ _ SO Ang'12 ___
80 83
2d g 4s into bond etfs____0989 ,j -J
6516512 Sale 6512
dol., 156 7812 S4'
Do Stamped
6458 6934
Consol gold 45
1932 J -I) 80 Sale FO
64
70 J'ne'12
5914 70
Equit Tr St Co etfs
Gray's Pt Ter let gu g 53_1947 I -D 9.) ___ 10112 Apr '07 -_..
66
66 Sale 66
601. 6958
Do St4anped
37
3'; -ii- -iii4
86 ____ ,6
$ A & A Pass 1st gu g 4s
1943 J-J
107
_ 10
107
Dot & Ch Eat 1st g 5s___1941 J-J _
106 107
_
SF &NP 1st sink f g 5s....1919 J -J
91 ___ 104 Oct '09 _._.
it/ 82 80 Aug'1.
to 80
Des Moln Div 1st g 4s___1939 J-J
-87 - -87-3-s
seaboard Air Line g 4s
1950 A:0 _ ii._ _i6; 8714 Autcp.
7012 7114 Aug •I'
Om Dlv 1st g 3 I4s
80 90
1941 A-0 70
Gold 48 stamped
1950
6812 7134
86-14
5634
Tol & Ch 1)1v 1st g 48
, Registered
7234 8312
1911 M- S 80 86 8012 J'ly '12
1050 A-0
ifs-8 -ig.- --i: -ifs8
- -gitt
1954 J -D 2912 35 31 J'iy '12
, Aciltistment 53
31
3914
o1949 F- A -i;- Kilts . Wab Pitts Term 1st g 4s
.31
30 Sale 30
30 2978 4214
Cent & Old Col Tr Co certfs__
7834
1 7834 83
Refunding 4s
1959 A-0 7,:12 7t.•21, 7834
32 30 Sep '13
30 4112
Columbia Tr Co ctfs
' Atl-Birm 30-yr 1st g 4s_e1933 M-S _.._ 8734 S8 J'ly '1: -_ 87 90
1
9313
212
258 .5;
2d gold 4s
134 J'no'12
93 9312 Apr '12
1954
Car Cent 1st con g 4s
1949 J-J
58 24
2 Sale
2
Trust Co cents
178 3
Fla Cen & Pen 1st g 5s
1918 4-J10314._103 May'll
Wash Terml 1st gu 3 11s___1945 F-A *82 _
104 May'12
8732 Oct '11
1034___
92-3- di
_
let land gr ext g 5s
iJ- di
1930
1st 40-yr guar 4s
-tins
- -6/4
107 J'ne'12 ____ 107 107
1945 F-A 9718 -2:- 9718 Meh'12
Consol gold 58
_1943 J2J
128
4.542 23 8538 844
5 10534 10714 West Maryland 1st g 4s
1952 A-0 8414 bias 8358
Ga 64 Ala fly 1st con 5s_o1945 J - J 10534 106 105
1.1(54,34 10334 West N Y 64 Pa 1st g Is.. 1937 J-4 _10713 10034 Aug'12
111134
10534 10834
Ga Car & No 1st gu g 5s_1929 J-J 10434 _ _,_ 10134
38 8634 8612 Sep '1;
Gen gold 4s
8633 8812
1043 A-0 g6.Scab ec lion 1st 5s
1926 J -J -- - 10612 105 May'12 ...._ 105 10618
34 Feb*07
Income 55
831943 Nov
Southern Pacific 00
10313
89
10114 roll;
5 88 9212 Wheeling 64 L 5 1st g 5s___1926 A-0 10312 Sale 10;12
Gold 4s (Cent Pac coil) _k19411 J-D 88 Sale 88
104 10218 Nov'1 I
4 _iat
Wheel Div 1st gold 55_1928 J-J
94112
ul
91 J'Iy'
_. 9
k1949 J -D 86
94
1 91
97
Registered
10414 102 J'ne'10
Exten & Imp gold Is____1030 F-A
g1929 14-S 9414 Sale 91
20-year cony 48
e5)4
1949 31-S 8514 Sale );314
RR 1st consol 45
Cent Pao 1st ref gu g 45__1949 F-A 95 Sale 9414
-01-4 8515
95
74 91 97
08l Feb '11
20-year equip s t53_1022 J-J
U/ 9412 fly '12.._. 9412 941.
1949 F-A 03
Registered
9114 "gi90 9114 9114 Sep '11
Mort guar goki 3 11s__k 1029 J -D 0034 9134 9058 Aug'l -- 9012 9112 Winston-Salem S B 1st 48 1900 J-J
92
2.; In 0332
0152 Sale 0158
Through St L 1st gu 4s.1954 A-0 89 8934 83 Sep '12 ____ WI 0278 Wis Cent 50-yr 1st gen 4s 1949 J-J
0012 9212
9013
Sup&Dul div & term 1st 4s'36 ht-N 0012 Sale 0012
GH&SAM&Plst 53..1931 hi-N -_ 10511 10512 J'ne'12 _. 10512 107
Gila V G & N 1st [at g 58_1024 11-N --- 10314 10213 J'ly '12 ____ 10218 10434
105 Aug'12 ___ 104 los
nous S & WT let g 53_1933 ,11-N .
Manufacturing and Industrial
Cl 05
6034 J'ly '12
52 6714
1936 J-J
4 1047g 10414 May'12
1st guar 5s red
1933 M-N 103310414 10414 Allis-Chalmers 1st Is
53 63 5914
Trust Co Ws deposit
4 6712 61
5914
1937 J-J 10912 ____ 10312 Sep '12 __-- 10I14 110 _
& T C lst g 53 int gu
Am Ag Chem 1st c Si
1928 A-0 10112 Sale 10078 10113 10 10078 10234
10712 Sep '11
Consol g Os Int guar_1012 A-0 __._.
9718 9/24 0634
9718 17 0634 9812
Gen gold 4s int guar_1921 A-0 9312 95 94 Aug'12 ____ -134.- -9
.61, Am Cot 011 ext 4 I.2s
02 14 03
Debenture 5s
ii 03 9513
01
Waco & N W div 1st g 63'30 /11-N 106 107 11914 Mch'11)
10014 10034 10014 10012
9818 101
1
991
1
.9
51 4-NS
A & N W let gss g 53_1941 J -J 105 ___ _ 10715 Feb '12 ____ I.H1-2 1.0
.i1-2 Am Hide &L 1st s f g 66_19
78
7212 82
Morgan's La & T 1st 7s 1918 A-0 ---_ 11134 Aug'12: ____ 11134 11134 Amer fee Scour deb g 63_1925 A-0 78 Sale 78
1051- 51 10212 1057s
1st gold 65
1920 J -J - ifoi 111 Mell'll __ --- --- Am Smelt Securities s f 6s 1926 F-A 10514 Sale 105
100
101
100
Am Spirits Mfg 1st g 6s
Sep
1915 M-S
0112 101
N Y Tex & LI gu 41 g
1912 A-0
931, 9158 94 J'ly '12
1919 J-J
---- Am Thread 1st col tr 4s
---- -0258 95
No ot Cal guar g 5s
1938 A-0 --------112 - Fels-in :::: -121 11912 Aug'''.
11878 12112
if34 ---_______ 102 J'ly '11 __- ---- --. Am Tobacco 40-yr g Os.,,..1944 A-0
-N
J ---Ore & Cal 1st guar g 5s 1927 IJIRegistered
1944 A-0 ____ 12014 12014 J'ne'12
11872 12138
116 May'07
So Pac of Cal-Gu g 5s _1937
Certificates of deposit
11012 Sep '12
11872 12112
---- --_
So Pac, Coast 1st gu 43 g_1937 J -J 9612 _ _ 90 J'1Y '09 ---GoR
ldeg
4isstered
0714
4 9178 $1714
1851 F-A -97-1:4 gilt; 9714
San Fran Termi 1st 4s...1950 A-0 8858 9014 8812 Aug'12 ____ -3-81- -id
9214 9558
9532 J'ne'12
10034 Mch'12 ___ 10034100 -4
_
Tex 63 NO Nab Div 1st g Os'12 22-S
,j
wogMay'll
Certificates of deposit 1951 F-A
9514 May'12
9178 00
Con gold 5s
1943 J-. icjiai
Am
Wrirg
91
(1058
91
935s
13)
Pajoer
-976
4
9314
let
JRR
1st
ref
1955
9.614
9632
8
f
5,9_1919
.1
16
Pao
43
933
8
Sale
J-J
So
8814 "38
10234 104
10312 103 Sep '12 •.
Southern let consol g 5s__ _1994 J -J 106 Sale 106
10614 5,0 10;34 10832 Baldw LOGO Works 1st 3s__1940 al-N
Beth Steel 1st ext s f 5s_5_
9634 31 0312 102
__1026 J -J
4612 Sale 9613
Registered
1994 J-J --------105 Sep '11. 78/38 itiL -i>i- -7934
Develop es gen 42 Ser A_1950 A-07812 Sale 7818
-. Cent Leather 20-year g 41_..1925 A-0 0538 Sale 9518 ¶)&33 61 9134 9614
07 Aug'12
1951 1,-A ____
Mob & Ohio coil tr g 4.s.,_1938 11-S 8518 8718. 8612
0134 91
861Z
1 10
881
58
14 17
112 Consol Tobacco g 4s
Registered
57 Nov '07
i,--N
A
1951 li.
Mom Dlv 1st g 4 14-5s_._ 1096 J-J 107 10814 109 May'12 _-__
e7
/ Sale 0614
10 -i;6);
1931
St Louis div 1st g 4s
1951 I-J -,.... 8912 82 Sep '12____ 8812 9014 Corn Prod Rots f g 55
let 25-year s f 158
10778 Nov'10
94 0612
- - 9514 9514 Sep '12
Ala Can R 1st g es
1918 J -J 10312_
07 Sep '12
Cuban-Amer Sugar coil tr 6s11918
A1-O
934 AN
96 9712
At! & Danv 1st g 43
1948 J -J ...-- 00 0012Nov'11
7434 47 7858 7814
4 Distil Sec Cor cony 1st g 58_1927 A-0 7134 Sale 74
4 -8218112 __ 8214 Feb '12 2d 4s
1948 J-J
-83E1015
0414 1511) 8478 0212
Sale 8858
____ __ __ E I du Pont Powder 4;s8_1930 3-1)
Atl & Yad 1st g guar 4s 11)49 A-0 84.14 ____
7442 814 83333J'nc'12
82 84
Gen Electric deb g 3 54s...,,1942 F-A
1916 J-J ....... ____ ilit-43-4DeC-'11 _----..-.
Col & Grecnv 1st 6s
15312 159
10-y-r g deb 58
169 Feb '12
1930 J -J --------1077
_
E '1' Va & ela Div g 5s
4 1.614
10
i38 Mar12 ____ 111
0034
4 9812 10078
917 j
A-O
n 9912 Ag14 9958
1915
Con let gold 53
11184 Gen'l Motors let lien 6s
1956 M- N __ ___ 11038 Aug'12 ____
III Steel deb 4 558
90
8912 9234
DO Salo 8912
10518 106
1938 11- S 109 - 11011 10:118 J'ly '12
E Ten reor lien g 53
Indiana Steel lit 58 (mots) 1949521) AAI1001: 21 100 10158
16141 1
Ga Midland 1st 33
1946 A-0 6312 0714 64 Aug'12
-O
N 10012 Sale 100
103 10434
10314
8
12
47
;
1 Int Paper Co let con g 456_1918 F-A 103 10358 103
Ga Pac Ity let g Os
1023 J -J
- 11118 111 J'ly '12 -_.:::
Consol cony 5 f g 5s
8412 9172
87 0034 89 Sep '13
1933 J-J
Knox & Ohio let g 63_1925 J-J ifli ____ 114 d'ne'12 ___ 114 115
92
(
S
) 9114 9212 02
M
A1-s.
25 9134 0312
192
959
05
1
104 ____ 10511Nov'10 _____ _____ _ [at St Pump 1st s f 5s
Mob 44 Bir prior lien g 58_1945 J9612 96
90
9714
.4... Lacicaw Steel let g 5s
11 94
78 Dec '11 .._i. 1.15;;174 6
Mortgage gold 43
1945 J.] -73
9534
1st con Is Seriee A
1 84
79 81 80
80
1u314
if 77 8212
10814 Sale 1, 314
Rich & Dan con g 63
101 5 J..
5-year convertible 5s
10434 Apr '12 __ _ 104 10434
13 MS 94 Sale 01
14 9012 0434
94
102
1927 A-0 -- _
Deb 58 stamped
Ligg & Myers To b Co7s tpy bds_ (2014 Sale 11978
12034 31; 11834 123
1248 M-N 7714 ____ 71 Islch'll __-____.
Rich & /sleek 1st g 4s
5s temporary bonds
9634 Sale 0634
.
18 10234 J'ne 12
i.01.34 loi
.
07
.:4
.102
1919 M-N !T
So Car 6: Ga 1st g 5s
8934 9914
0
- 10012 Sale 10038 101
1:: 95 101
1916 M- S
• .. 112 Oet '06 _- _--- -- Mexican Petrol Ltd any 6sA '21 -A--Virginia Mid ser C es
Nat Enam & Stpg 1st 5s___1021) JD
_
93 93
0314 21 93 9112
Series D 4-53
1921 M-S 10332 ____ 10414 J'ne'11
7 8914 8934
8914
04
51343 J'ly '12 __ rdia idt;i4 Nat Staxch 20-yr deb 5s__ _1930 J -J
Series 5 Is
1926 m-s 10.334,,..,,. 110
gi
12 05 8934
te) 09
National Tube lit Is rects_1952 7:N_
9 99 10112
99
Series F Is
1931 M-S 104 ____ 105 J'ne'10 ___
10114
97 10212
10/12 A ug'12
General 5s
1.6f12 loil4 N Y Air Brake let cons 6s19213 M-N 161 Sale 101
1930 M-N
12014 Sale 120
P Lorillard Co 73 tem•pry bds.;__
12014 22 11933 12334
J'
1Y'
11 -_-_-_
Va 64 So'w't 1st gu 56_2003 J -J iai- 7.---.
74
"9-6- -6,
4 9118 9912
Is temporary bonds
9658 0/
.612 96 Sep '12
9714
071e
1st cons 50-year 53_1958 A-0 05 9
9812
07
081 '3812 Aug'12
9312 10 go 93t. Ry Steel Spgs 1st s f 5s____1921 -J---a
4s
1924 F-A 04 ____ 9312
W 0 & W 1st ay
10278 104
104 Apr '12
West NC let con g 63_1914 J -J --------103 May'12 -_ 103 10312 Repub I 643 ist&col tr 5s__1934 A-0 11335
9178 73 9034 9338
8 9112
10-30-year Is s 1
1940 A-0 91 917Spokane Internet let g 58_19S5 J -J --103 10212 Apr •11
86 8834
1930 41-N 83 90 88 Sep '13
riper A of St L Ist g 4;43_1939 A-0 -- 10334 105 Meh'12 __ i68.- iai- Standard Milling lit 53
1001. 51 9412 10212
1104 11212 The Texas Co cony deb 6s 1931 J -J 10012 Sale 10014
1St con gold 58_ _1804-1044 F-A 109 .. _ 111 Aug'42
92 04 May'112
9412
Union Bag & Paper 1st 58.,_1930 J -J
94
9514 ici 96
.0
1953 J-J
4 94 96
Gen refund s g 42
_ 0212 9312 Aug'12
Stamped
9312 0412
St L U Bge Ter gu g 58_1930 A-0 108 10613 10614 Sep '12 ___ 10614 1071.
io'Co
10014
1
9
93
13
9
M
--N
1
10018
Leath
Aug'12
102
10814
Sep
'12
S
Co
s
f
deb
g
63
10018
U
J
-D
___
____
1118
107
11012
Is
2000
Tex & Pac let gold
89 9014 89
89
2 A pr4918
US Realty & I cony deb g 58.'24 J-J
997
,12
71 ....
1. 4978 60
8712 91
42000 Nleh _ --- 55 4
2d gold Inc 55
1931
30 31 30 Aug'12
30 50
_1931 J -J --- -___
___ .._ [IS Red & Refg lstr g 6s
La Div B L 1st g 5s.
6s_1918
10358
101 10334
Rubber
1:6
'04
coil
tr
10414 39 10334 105
Nov
US
10-yr
10612
WM1nW &N W lstgusa30 F-A rails wa..4
6
7
6
514
:
,
4
10
07
j
3
1
-_i 1-6
1013 J-I)
Registered
10713 „..
10/12
10318Jan '10
1035 4-J
Tol & 0 0 let g 84
4 Mira
US Steel Corp-jcoup ___d1963 4.1-N 10:713 &ire 10178 10214 181 10131935 A-0 106 ____ 10734 J'ne'1;
Western Div 1st g 5s
10152 104
S f 10-60-yr 5s1reg ____41963 NI-N
10214
10178
I 103 104
10114
General gold 5s
1935 J -1) 10312 10312 10334
Va-Car Chem 1st 15-yr 5s....1923 J-[) 98 Sale 9724
0818 33 9734 101
Kan & It let gu g 43
1990 AO 9134 ____ 1)3 MaY'12 -- 9134 $/3
10072 10318
10118
./9
14 9114 904 West Electric let 55 Doc 1922 J-J 10034 lth/i, 10078
90 Sale 98
11127 J -J
2t1 20-year 5s
40 93 06
05
:8
93
114
2 9
57
41752 Westinghouse E & Met 53_1931 J -J
1917 J - J ____ 93 9412 J'ne'12__9134 Sale 0134
Tol P & W let gold 43
9612 08
10-year coil tr notes Is,, 1917 A-0 97 9714 97 Sep '12
8412 85 8412 Sep '11
Tot St L & W pr lien g 3 445_1025 J - J
60 - --4. 60 8958
le 5( A-0 80 61
60
50.year gold 43
1917 F-A 88 72 6818 Aug'12 __-- 68 7312
Telegraph & Telephone
Coll tr 43 g Ser A
1
8918 9118
8934 4
8878 8038 8918
•!
1 ..._......._._ 18509
89
931142
2 1108906
90
1711582 Am Telep & Tel coil tr 48__1921) J-J
) 18
Aeppr .
09114 7:: 103
8978 s
Tor Ham & Bull lit g 43_0940 J:11)
1936 M-S 11234 Sale
11234 71 10834 11633
Convertible 43
lster 64 Del lit con g 541..1928
Chicago Telephone 151 5s 1923 J -I)
1st refund g 43
1052 A-0 8518
8512 hie'12
2
-012 -01- -8517_
9935 6, 9878 10214 Commercial Cable 1st g 4s_2397 Q-J
9038 "ithi, 09
Union Pacillc-Gold .s...1947 I -J
2397 Q-3
Registered
Registered
1947 J -J
_ 9 I. 9034 Aug'12
- -Keystone Telephone 1st 58_1035 J -J
1927 J - 3 10218 Sale 10112 10215 391 10114 104
20-year cony 45
------ 10214 103
Nietropol Tel & Tel lit s t 5s 1918 M-N 10214 Wale 0
8 131'3.221143127 ANh
g2008 11_5 9514 933. 9512
9334 61 9
1st & ref 4s
95.
1%
9078 101
192,1 F- A 119 100 iou Aug'13.
967J
Mich State Telep lit 53
9212 9314 0268 Sep '1; -._
Ore fly & Nay con g 48_1945 -[)J112 11334 NY &NJ Telephone Is g..1920 111-N - - - - • - 10314 May'll
_ 11213 112 Sep '1'4
Ore Short Line 1st g 63..1922 1:- A
0814 203 138 Medi
,_ 10 ,58 112
10858
N Y Telep 1st & gen sf4548 1939 Ni- N 9815 Sale 98
12 100 I0858
1946 J -J i(1)4.
1st consol g Is
53: 9873 10114
2 9134 9534 Pac Tel & Tel 1st 84
1837 J -J
92
9952 Sale 9312 100
1929 I -I) 9134 Sale 9134
Guar refund 43
9055
731
5
1 10107/62 11000311:
West Union col tr cur 53_1933 J -J 101 10114 10038 10
_
_
Utah & Nor gold 52_1926 J -J 1038_ . 108 . May'll __ ________
Fel and real est g 4 10_1950 11-N 97 Sale 97
1st extended 43
1233 J -J _
_
5i
i
ne
(1;14 J:n
Mut Un Tel gu ext 53_1941 11-N
10
-i(15-2 -66 -7
Ca5Itchh
;F- __ ---'
Vandalia cons g 43 Ser A_1935 F-A 134
---• ,
Northwest To. gu 4 54. g-1931 J-J
-6114
1957 12-N 02 9438 04 Joe 12 ___. 91 971:
Consol 4.s Series 13
Vera Cruz & P lit gu 4 ies_1934 .1-3 ---- 901.! 9134J'ne 17,,,.,.. 9131 9134
W
U
MISCELLANEOUS BONDS-Concluded.
Miscellaneous
S;lle
Adams Ex coil tr g 43
2 8212 881s
1948 it- S
Armour & Co 1st real est 4 14s '33 J -I)
8552
90
21 9014 9214
Hush Tenpins, 1st 4s
1952 A-0
88 92
2_
985701_
Consol 84
1935 J -J
4
Chino Copper 1st cony 6s 1921 J -J
18
90
9
Irrigation Wks & D of A 4 54s '43 12-N
if(16
/1-2 S
37;
Ia1
lC
e 10
1. 97:1
6
211 N°11v
[asp r Coas Cop 1st 6s trects. -:71113
6618
1 63 7
66 Sale 66
Int Mercan Marine 434s_._1922
78
Int Navigation 1st s f 58_1929 11- A
11 1 78 814
Mee Bond (N Y) ser 2-43_1906 A-0
-0
7:
Niorr1S ec Co 1St s f 4
0)-1-' 8
979
903
148 AP
J -J
u rg7''9111!
81 85 81 Sep '12
N Y Dock 50-yr 1st g 48_1951
18
0
0(2
8911
21
-801365
17
7i
:
Slag Fails Pow 1st Is
1932 J -J 10034 ____ 10172 J'ne'12
Refunding de gen 63____a1932 A-0
mtario Transmission Is
10
0
238
434 521
. 19
00122
2
237
12 1-9:
3,4041
1945 M-N
Put) Serv Corp N J gen 5s 1959 A-0
Ohs
1u
9
2:11-3
2
Itay Core= Copp sr 1st cony 0,1021 J -J -112
31 12?e -12413
80 883
_ 853.1 88 May'12
)419 9813 Wash Water Pow 1st 53...._1932 J -J 102
104 May'12
9511 957 951.
!No prism Friday: latest bid and asked aDue Jan aDue April eDue May aDue June hDue July kDue Aug oDue Oct dDue Nov .2DUe DCO sOp Lion solo
Coal fc iron
Buff & Susq Iron s r 56____1932 J
al926 Ni- S
Debenture Is'
g 3s____1043 F - A
CoiF & I Co gen
1919 11-N
Col Fuel gen Gs
Col Indus 1st & coll ss gu_1934 F-A
1033 .1-1)
Cons Ind Coal Me 1st 5s
Cons Coal of Md 1st & ref Is 1137.0 -I)
Gr Riv Coal 64 C 1st g 03_44E919 A-0
Kan & 1-1 C & C 1.1 s f g 58_1051 J -J
Pocati Con Collier 1st s I 53_1957 J -J
1055 .1- I
St I. Rock Mt & P 1st 33
Tenn Coal gen Is
1951 3-1
Btrm Div 1st consol 63_1917 J -J
Tenn Div 1st g es
al917 A-0
Cab (3 M Co 1st, gu g Cs,,,,1922 J-1)
Utah Fuel 1st g 5s
1931
S
Victor uel 1st s f Is
1933 J-J
S
. Va Iron Coal & Coke ist g 331949
97 08
97 J'ly
8612 _
91 Nov'll
-4.44 1664
9834 9915 9834
9831
1004 1081- 10714 J'ne'12
10714 10734
84 8434 81
,-414 1: 7212 8,1,
____ 8112 85 J'ne'11
91 Aug'12
___ 9114 10252 Apr '06
-9734 98
98 J'uc'12
11734 98186 88 80 Aug •1.
8112 8917
80 82 81 Sep '1;
7934 841!
102 ---7 10134 1034
1(1134 102 10134
10331
1033,
10312 Icrs'
10312 1041:
1031. 10332 J'ly '12
103 104
10112
_ 110 Jan '02
830512
4'81412
i161947.61-216i14-
CHICAGO STOCK EXCHANGE-Stock Record.
STOOK 3-11iG18.47' AND LOWBST SALM PRICBS.
Saturday
Sept. 14.
,Vonaay
Sept. 16.
Tuesday
Sept. 17.
Wednesday
Sept. 18.
Thursday
Sept. 19.
Friday
Sept. 20.
Sales
of the
Week
Shares.
STOCKS
CHICAGO STOCK
EXCHANGE
737
Range tor Year 1912
Range tor Previous
Year 1911
Lowest.
Lowest
Highest
Highest.
Railroads
160 Chicago Elev }Lys com___
35
*30
35
30 Aug 23 40 Apr 24
32 Dec
21 J'iy
3014 3014 *30
30
30
*30
35
36
*30
Do
pref
Aug'12
3213
Sale
90 alay27 9334 Jan 20
Last
94 :Nov
92
*89
92
85 J'iy
*89
92
92 .89
*89
Ohio Rys part ctf "1"
Set'12
85 J'ly 15 1O43 Jan 18
Last Sale
90
*85
90
80 Apr 101 Aug
*85
*86
90
*85
00
Chits
Itys p
part l
e f ::3
2
264 j
25133 2518 ----- -----440
Au
ng
e15
6
25
25
25
2034 May 3778 Deo
2512 251! 2518 253., 25
25 Chic Itys
1212 Aug
914 *9
3
13
914 *9
1 Jan 12
914
9
914 *9
8 May
018 918 *9
914
*9
Chic flys part etf "4"
Sept'12
Last Sale 1
312 J'iy 5
712 Aue
578 Jan 13
*312 4
*312 4
412 Mei]
*312 4
*312 4
Kansas City Ity & Lt_100 1414 Aug 8 21 May 1
Last Sale 18 Aug'12
25 Feb
*1712 25
*1712 25
15 Sep
4.1512 17
.1512 17
Do prof
100 4012 J'ne 14 5012 Jan 19
Last Sale 1013 Aug'12
721t Feb
42
*38
42
39 Sep
*4012 411, *4012 411? .38
Streets
W
45
Stable
C
L_100
1012 1012 1012 ---- ---6 Mch 28 1178 Apr 10
1314 Feb
7 Dec
1012 1012 *912 1012 *912 1012 *10
Do pref
Last Sale 50 Aug'12
100 35 Jan 30 52 J'ne20
51
*60
.50
51
51
50 Jan
38 Nor
*50
51
*50
, Miscelaneous
American
Can
3,450
100 1132 Jan 2 453s Sep 20
4234 4214 4414 4414 4538
1212 May
4114 4112 4214 42
9 Jan
3938 3978 40
Do prof
800
100 91 Feb 1 126 Sep 19
123 126
125 12512
93 Dec
7678 Jan
11934 1211, 12034 12te 4 121 121
*119 120
American Itadiator_100 325 Feb 1 405 J'iy 2 265 Jan 304 Oct
Last Sale 105 July'12
-- *400
___ .100
-- .400
*400
Do
pref
100 131 Jan 15 135 Apr 30 12612 MO 133 Nov
Last Salt 135 A ug'12
-- .130 138
--- .130 133
4,130 1-3-8 .130 138
556 Amer Shipbuilding_100 45 Aug 7 60 Sep 18
_- 60
50
59
5612 5534 59
48 Nov
79 Feb
56
,56
56
*53
Do pref
100 100 Feb 6 10414 J'ne20 10613 Sep 113 May
Last Sate 102 Sep-t'11
*102 103 .102 103 .10014 103 510012 103
50 Amer Telep 44 Teieg
139 Jan 11 148/8 Mch 17 13138 Ault 15214 rue
*14312 144 .‘I.4312 144 .14313 144 .141 14412 v145 145 14414 14414
Booth Fisheries com
39 Mch 14 6612 May22
*55
69
Last Salt 39 Aug'12
59
5914 Mch
59 .55
*35
50
35 Apr
*55
Voting trust etf
4312 Feb 26 60 Jan 9
5734 Mch
Last Salt 17 Apr'12
33 J'ne
---- ---- ---- ---- ---- ---- ---- ---Do 1st pref
205
77 lich14 95 J'ne 5 '60 Sep
90
8838 Dec
901: 9012 9012 9012 9012 89
90
*90
001; .90
*90
Cal & Chic Canal & 14.100 49 Feb 5 6558 May13
Last Salt 38 Aug'12
52 Feb
4912 Apr
58
*55
58
*55
68
*55
58
*55
Chia
Pneumatic
Tool_100
366
44
Eich15 5378 Aug28
5513 Feb
8912 Sep
*52
52.s 5212 521: 5212 5213 6212 5212 5212 5234 5212 531
Chicago
_ _100 13713 Jan 4 145 Men 9 115- Jan 14114 Nov
Last Sale 142 May'12
____ ___ ___ ____ ___- ____ _-_& Trust.100 184 Jan 4 222 J'ne20 15112 Jan 180 Dec
Telephone1 Chicago Title
215 215 .213 215 .213 215 .210 215 .210 215
*213 215
Commonw'th-Edison_100
303
13514 Jan 4 150 Mch 7 113 Jan 13738 J'ly
13812 13812
13834 139
13812 1381 13812 135'., 13812 1381, 139 139
Corn Prod Ref Co com
10 Feb 13 1718 Apr 26
Last Sale 16 sept'12
1538 J'ne
*1512 16 .1612 16
934 Oct
*1513 16
*1512 16
do
pref
Do
Jan
Last Sale
78 Jan
78 Jan
- ---- ---Match
Diamond
100
---3003
9
J
1'iy
. 11134 Feb 6
0312 Feb 11034 Nov
10612 10611 ----- -10612 107
*157;2 107i - itioi2 17 - iii" nil
28 Hart :Shaffner & Marx p1. 9838 Sep 20 10212 Mch 8 100 Sep 10334 Dec
10012 101
*997s 10014 .9888 -9838
*9912 10014 .9913 10014 *9034 100
100 66 Jan 1.
7014 Sep 20
69
6914 6912 6912 7014 1,052 Illinois Brick
4978 Sep
70 Jan
46713 68
6812 6812 6814 6814 68
520 Internal Harvester Co___ 104 Feb 14 12078 Sep 19
9014 Sep 129 May
125 12512 '12512 12512 125 125331 12412 12412 12114 12534
Knickerbocker Ice prof__ 67 May 1 7638 Aug 6
Aug'12
Sale
Last
/658
*75
7612
7613
*75
761
*75
;•75- 77-61•4 .130 138 .136 138 .138 140 138
Biscuit
100
National
131
150
J'iy
1
-6
_
__
16112
Apr 30 11714 Jan 14212 Dec
*136 138
100 12312 Sep 2u 13084 May28 123 Jan 130 Mch
Do prof
10
126
12312 1-2312
*12512 120 .12512 129 *12512 129 .124 126 .121 139100 103 Itch 5 124 Sep 20 .100 Aug 121) Mch
150 National Caroon
120 120
122 124
*119 122 v119 122 .119 122 .110 122
100
115
Do
prof
Feb
11
_
65
120
11712
Jan
2 117 Sep 120 lich
11712
118 118 .11714 120
*11714 120 *11714 120
z 61 J'iy 2 z 67 Apr 21
- 65 Paciffo Gas as El Co
611i 6378 04
0118 6412 -------6412 *64
6434 6414 *64
rights
Do
z.65
Last
Salt
ilar
___
id
_____
Apr
23
3
.
00
May
8
_
.
_
..._.
_
-...
.
.
-_
preferred
Do
___ - ......
_ *9112
- *91 ' -- *91
__ *9112
*0113
__ *9112
770 People's Gas L&Colte..100 10313 Jan 2 11834 Aug h,
117 Ifill '117 1-1-1 117 1-1718 11714 11714
-10468 Jan
116 ill
116 11-6
Pub
Serv
of No III corn. z 84 May25 x 9412 Apr 24
5
*8912
90
*8012
00
8914
8914
90
*8914
*8914 90
... ......
*8914 00
Do rights
z.08 Mayit. s 113 Apr 24
May'12
Last Sale t8
Do preferred .
.
35
s100 liday31 £10713 Apr 24
- 10014 10014 10012 10012 *100 101 *100 101
*1(3(14 1-07-1 .16014 1-0134
Rumely Co, pre:-orred_ __ x 9912 Apr 2, £10212 Aug 19
Lag Salt 10212Aug'12
*10112 103 .10112 103 410112 103 .10112 103
4,231 Sears-Roebuok com__100 140 Jan 3 221 Sep u 12334-Seii- 19284 Jan
212 21312 212 213
20812 20912 20618 20814 20712 21138 21114 215
100 12112 Jan 11 12834 J'ne 8 116 Sep 122 Mch
DO pre
41.1
123 123
12278 122/8 12318 12318
122/g 122.5 .122 123 .12234 123
Studebaker Corp coin30,8 J'iy le 19 Aug 9
44
Last Sale 13 Aug'12
*42
44
*43
44
.....
*43
44
*43
Do preferred
9412 J'iy lts 9712 Aug 7
*94
95
Last Sale J712 Aug'12
95
*94
95
96 .94
*94
.. --&
Co
Swift
100
98
34 Jan '2 10914 Apr 4
1,012
106
106
10618
106
10618
106118
10614
106
10534
0734 Sep 104 J'ne
4
1053
10534 106
215
Jan
Oats
Co_
_100
15
Quaker
305
The
60
Aug 5 165 Meta 212 Dec
1
300
*205 300 .295 300 *21/5 300 *295 300 *296 300
Do prof
100 10512Jan 2 110 Jan 15 10213 Feb 10713 J'iy
------ 24
*108i2 109
108 108 .108 10811 .108 10812 108 108
213534 May h 148 Sep 17
18412 187
184.14 18518 185 18712 1,072 Union Carnide Co
18312 18734 18418 1871: 186 188
3 314 May 9 s 6 May22
Do
rights
_ --___
_. _ .... _- _
Last Sale 412 Mar12
.4.
..
32 May 2
Co_100
178 Jan lb
13d
.53
P
Box
7 Jan
Unit
*11
1 Dec
Last
Salt
Sept'12
138
11
112
*114
112
*114
-11
:
'
4
* 4 -1
6012 Oct
8178 Feb
7214 7238 7238 7233 7238 74 g 7414 7414 7418 7434 7433 7514 1,500 United States Steel corn. 6858 Feb 13 7514 Sep 20
100 10 Jan 17 14,8 Feu 7
"5 Jan
12 Dec
Western stone
*1)
101, *0
Pa, 44
101, .0
101,
Last Sale 10 July'12
Clump 'Millis and Trust Uompauies
Unica,go Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Sept. 20.
Interest
feriod
Price
Friday,
Sept. 20.
Week's
Range or
Last Sate.
Irds
Sold
Range
for
Year 1912
High No. Low. High
Md. Ask Low.
91
xU1
91 Apr'12
Am Tel 63 Tel ooll 4s__1929 J - J
6 9012 9214
0068
-D -55E3 Salei 0058
Armour & Co 4 341_11130
8214 Apr'12
28214 8214
Auto 1.1eo 1st M 68..._1938
21)81s Obis
9618 May'12
Cal Gas & Hi unitZtret 5837 A - N
Chicago City By 5s...„1927 F - A 41021s 10238 10214 10238 11, 101114 103
ChloCity&Oonitys 5s.d1927 A - 0 86
88
8714 Sep'12
8718 9133
9778 July'12
9738 90
Chicago Eley By 53-1914 J - 4 9734
J 400
95
01110 Pne Tool 1st 53_a1931 J
-14 9234 Sep'12
100
100
1927 F - A 5578 100
8 9912 10114
Chicago 1tys 5s
2 9518 97
9518
9518
Ohio Itys 5s__sories "A" A - 0 951g Sale
9638 Jan'12
9614 9733
Chic Rys 4s__serlos "A A - 0
D t-ao8618
8638 18 8613 9158
Chia 'Vs 4s_sertes "13" J
9884 951g
94 June'12
98
Ohio Ry3 4s__series "0" F - A
Jan'12
100 100
100
Chic Rys coil 614_1913 F - A
731
70
2 70
88
Chic Ry Pr na
g 4s_c'97 I - J ; 70
70
50
2 46
48
Chic Ity Adj Inc 4s.o1927 Aayl
47
50
60
10118 21 10018 10314
101
Chicago Telephone 53_1023 J - D 410114 103
9933 May'12
Cicero Gas Co ret (/ M..1933 J - J 4_
99
9734 9038
10314 72 10214 10354
Cominonw-F,dison 53_1943 M s 11
Sale 103
Commonw Eloo 53.6 1943 sf.
10
278 10212 Ju13e12
10
00214 10
10214 10334
Cudahy Pack 1st Xi 53.1024
- N 110014 10012 10038 Se9•12
998 10034
10914 10914
2 107 11014
Dta Match Con db 6s_1920
Gen Mot 6% 1st L notes '15 A 9934 Apr'12
£9958 0034
10114 May'12
£10114 10119
Ind Steel 1st g 5s____1952 M - N
1st g 66___1928
Do
x10012 10038
lot liar 3-yr 5% g notes'15 F -A 410014 10034 10038 May'12
10518 Apr'12
x10518 10518
Ipra svi is. 31 g 54--1928
Earn City By de Light
1913 fl -N 90 Sale 90
90
9414
Co 5s
5 89
88 Sep'12
80
49
Lake St 51-1st 5s-1928 J
8714 90
8112' 136,312
8118 8524
- A 8034 82
, Motr W Side El 1st 48_11138
1936 I .J
7834 79
79 Sep'12
83
79
Extension g 43
10412 Apr'12
x10478 10478
Mil El Sty de Lt 1st g 531926 F - A
Apr'12
95
-J
95
do re do eat 4 34s_1931
395
do gen 43 ref 5s__1951 J -I)
651-8
1311Iw Gas Lt 1st g
A- N
;894 9018
8878 Sep'12
____ 89
1939 J
Morris tfc Co 4 343
887g 9014
1052
Nat Tube 1st g 5s
N ---- -- 10014 May'12
£10034 10114
1034
Apr'12
410278 Nor Shore Si 1st g 533_1922
£10314 10314
gums 10033
do 1st & ref g 5s 1940 A 41.0038 .
106.18 10058 Apr'12
9512. Sep'12
Nor Sh Gas o III 1st 58 '37 1,̀ - A
I-9512 971g
North West El 1st 43_1911 Si S
-- 19014 July'12
10014 10014
10012 Aug'12
N
L Coke Co 5s 1928
-M 4 9912
0934 10012
Ogden Gas 58
_1945 sn - N
9712
08
9712 Sale
55 0554 99
J
92 May'12
Pas Gas & Fa ref g 53_1942
29118 9218
J
Pao T&T 1st. col tr 5s_1937 J
-- 100 May'12
x100 1001g
Pearsons-Taft 53
1916 -D 9812 _- 1008 lie h'09
4.403
S1 - S 95 -- 9012 Mch'10
- N 96
4.60s Series E
97 Feb'10
I
- N 9712 ---- 9814 Nov•11
4.30s Series ,
11512 Sep'12
Peop Gas L 63 C 1st 63_1943 A 11512 17111-2
- S
101333 10138
Refunding gold 5s...1947
6 10114 10214
10314 10314 Ju17'12
Chic Gas L&C 1st 58 1937 J - J
10234 10334
- D 410314 10234 May'12
Consum Gas 1st 53.1936
10218 103
10134 June'12
Mut'l rust Gas 1it5s1947 51-N 510012
10112 10112
0038 §:tie
9058
9938
Pub Sery Co 1st ref g Is '56
5 x9634 100
10014 May'12
Son Bell '1' de 'I' 1st at 5s '41 J - J
s100 10014
13-- 9213 Sep'12
South Side Bitty 4 3.4s_1924
-J
9212 961,
10014
Sw.ft 63 Co 1st g 53_1914 J - J 156 sale 100
2 100 10034
Tri-City By & Li coil
9814 Apr'12
trust lien 3 r Se
1923 A x93
9814
4.-- 81
85
A pr'12
Union Elea (Loop) 5s_1945 A 89
85
-- 100 May'12
S Gypsum Is: g 53_1922 IL - S
x0078 100
10212 Apr'19
U Stoat 10-60-yr s t g 5s_
810212 10234
Western Eleo Co 5s___1922 J
J 41004 loll; 10034 10084
10034 103
Note-Accrued interest muss be added t all Chicago bon d prices.
:1
4....
1011
/
4
_
NAME
Outstandlay
Stock.
(1)
Surplus
and
Profits.
(t)
Dividend Record.
In
1910.
In Per- Last Paid,
1911. Lod.
American State
$200,000 $179,779____ ___. Jne110'12 134
Calumet National
100,1)00
635,488
6
6
An Jan '11, 6
Cont'tal 44 Comm Nat.._ 21,500,000 9,107,950 __
10 (1-2 July'12, 234
Corn Exchange National 3,000,000 6,054,259 16
16
Q-J July '12,4
200,000
3,371 Beg. b us May 31 '1 1,V.92,p1538
Douglas State
Drexel State
200,01)0
75,791
8
Q-.) July '12. 134
6
Drovers' Dep National_
600,000
487,124 10
Q-J July '12. 234
10
Eng.ewood State
•
200,000
57,533
6
634 Q-J Apr '12, 2
First National
10,000,0(X) 11.723,927 12
12 Q-19 July'12 43(ti
First Nat Englewood,_
150,000 e211,856 10
12 Q-23 Jne30•12 23.4
Foreman Bros 13'k'g Co_ 1,000,000
541,17e
Priv ate Ba nk •
Fort Dearborn National 2,000,00u
680,77s
8
Q-J July'12,2
8
Hibernian Banking Assn 1,500,00v 1,539,807 8+2
(11) Q-J
(II)
Kasper State Banic____
400 000
J-J July '12,5
151,766 10+15 10
Lake View State
200.000
320,784 Beg. b us Apr i'11 11.92,p. 1004
La Salle St National
1,000,00,1
242,618 Beg b us. Ma y'10 V.90,P. 1277
Lawndale State
200,000
1438,614 Org. D cc. 16 1911
Live Stook Excit'go Nat 1,260,000
554,940 10
10 Q-51 Jne21112.234
Mech. & Traders State_
200,000
685,235 Beg. b us.Aug 26'1 2.V 95,p 593
Nat Bank of Republic__ 2,000,000 1,374,189
8
Q-J July'12, 2
5
National City
2,000,000
606,680
6
Q-J July'12, 134
6
National Produce
260,000
103,075
4
Q-J July'12, 1;4
6
North Avenue State- 200,000
78,134
635
7
Q-J July'12, 134
North Side State Say'gs
50,000
46,071
6
6
Q-J July'12, 134
North West State
200,000
44,751
4
Q-J July'12, 134
8
People's Stk Yds State_ w300,000
94,848
7
935 Q-J July•12, 2;4
Second Security_..,
7,193 Beg, bus Nov I'll V.93,p. 1235
300,1101)
Security
150,02
435 .48
Q-J Oct '12, 134
400,000
South Chicago Savings_
200,0(Ju
8
Q-J July '12, 2
734
110,000
South Side State
6
200,000
16,971
Q-J July'12, 134
6
State Bank of Chicago... 1,500,000 2,327,12v
12
12
Q-4 Oct '12,3
Stook Yards Savings
250,000
223,110
8
8 Q-M Jne30'12,2
Union Bank of Chicago.
500,000
159,315
6
6 M-N May'12, 3
WashingtonPark Nat__
6
Q-4 July'12, 13i
100,000
612,176
6
Wendell State
50,000
u41,610 None None Q-M Dec.31'08,134
Central 'Fr Co of 111_ 4,500,000 1,959,874
734
8
Q-J Oct '12 2
Chic City 13k & Tr Co
500.00
322,860 10
10
J-J July'12,5
Chicago Say Bank & Tr 1,000,000
257,314
6
Q-J July'12 134
6
Chicago Title de Trust__ 5,600,000 12,031,511
735
8
Q-J Oct '12,2
Citizens Trust & Savings
50,000
16,510
6
10
Q-J July'12 3
Colonial Trust & Savings
600,003
477,377 8+2 8+2 Q-J July'12 234
Coat de Comm Tr & Say 3,000,000 1,542,32.
__ _ __
Drovers Trust & Say__
200,002
167,774
8
Ui li:j. .Kiy-7ii, 23.4'
First Trust & Savings_ 5,000,000 2,171,116 12
16 Q-M Dee 20'11,4
Ft Dearborn TrdeSavt3k
3,33(5 Beg. b us Apr I'll V. 02. p 929
250,000
Franklin Tr & Say Bank
200,000
34,803 Beg. 6 us Apr 412 V.94, p 1030
Qrcenebaurn3onski k &Tr 1,500.000
208,457 ____
2;5 Q-J Oat '12,234
Guarantee Trust & Say_
200,1300
40,341 ___
J- J July '12, 3
__
Harris Trust & Savings_ 1,500.01)0 2,107,466 11+5 -12- Q-J Oct '12, 3
Home Bank 61 Trust...
300,000
72,483 Beg L us Apr 10'1 IV.92,91004
IllinoisTrust & Savings 6,000.000 9,625,950 16+4 16+4
q Juty'12,4
Kellwood Trust & Say_
200.000
77,463 7+155
Q-J ilep3012,134
7
Lake View Trust & Say_
200,000
64,714
635
Q-J S4030'12,112
6
Mercantile Tr. 63 Say__
260,000 u 38.901 Beg, is us.J'ly I '11 . v.94,p.484
Iderctianta' Loan &Tr Co 3,000,000 6.649,802
12
15
Q-J Jull '12,4
Michigan Ave Trust Co_
200,000
64,768 Beg, b us Oei 24'1 0V.91,p1221
Mid-City Tr &Say Bank
500,000
75,843 oam b um Apr 10'1 IV.92,p1004
Q-J Jne29•12.2
8
3
Northern Trust Co
1,500.000 2,734,557
6
8
J-J Joe 29'12,4
North-Western Tr& Say
127,511
250,000
'ne I '11 V.92,p. 1537
60,661 Beg. b
Old Colony Tr & Saw Ilk
200,000
People's 'Fr de Say Bank
190,215 ------ Q-J July'12, 2
500,000
273,541
8
Q-J July'12, 2
Pullman Trust 63 Say__
300,01)0
43,036
Sheridan Tr & Say Bank
_ Q-J Oct '12, 134
2(10,000
330,453 Comm
..-8--Standard Tr 63 Savings_ 1,000,000
ened one. Beat 6 1910
46,009
53.4
Stockmen's Trust & Sav
200,000
6
.1-2 July'12,3
1,200,000 1,455,633 18+2 8+2 13-M Jne29•12, 2
Union Trust Co
400,000
98,190
6
West Side Tr &Say Bic_
8+2 Q-M Jne30•12, 2
200,000
86,44
74
91.4 Q-J July'12, 234
Woodlawn Tr & Say Bk
• Bid and asked prices: no sales were made on this day. 1 Sept. 4 (close of business) for national banks and Sept.
(opening of business) for State
institutions. I No ode° Friday: latest price this week. ;Sept. 1 1911. 11 Dividends not published. Stock all acquired by the Cont. & Comm. Nat.
Bank. a Due Dec. 31. b Due June. c Due Feb. dDue Jan. 1. k Also 20% in stook. q Dividends are paid Q.-J, with extra payments Q-F. s A
dividend of Go% was paid in 1911 on Security Bank stock, to provide capital for the new Second Security Bank. V.93, p. 1235. t Dec.30 1911. 43 1 k%
of this is a special dividend. x Sales reported beginning April la. tiJune 15 1912. w Stockholders voted to increase capital to 1500,000A cash dividend
of 33 1-3% to bepald In connection therewith. V.95, p. 393. s April 191912.
eJUne 14 1912.
738
BOSTON STOCK 1]-XCHANGE-Stock Record,
SHARE PRICES-NOT PER CEN7'51M PRICES
Saturday
Sept. 14
Monday
Sept. 16
Tuesday
Sept. 17
Wednesday
Sept. 18
Thursday
Sept. 19
Friday
Sept. 20
10712 10755 *10738 10734 108
*102 10214 *10178 102 0102
214
212
*___ 211
125
*125 126 *125 126
*205 - - 205 205 0205
97
97
*97
9712 97
*295 298 *205 298 0295
*____ 15 *_-_- 15 0_--78 *_-_- 78 *----
108 *10814 10812 *10812 10834 *10834 109
10214 10112 10112 *10214 1025e 510218 1020e
212
212 212 *212 214
212 212
1251: 125 125
121 125 *124 125
- A205
- 1,205
- 5205 206
902 95
96
97
97
95
96
208 *205 298
Last Sale 297 Aug'12
15 5____ 15
Last Salt 14 June'12
78 *____ 78
Last Sale 78 Sept'12
Last Sale ) Aug'12
53
"LEI 1(1 *50
53
53
;:i5" 53
*50
53
*50
*50
_ 169
169
169 *___ 169 *
Last Sal 169 Aug'12
_
*10712 110 510712 110 0iii
*111 -- 11634 11034
11034
__ 5255 -*258 ---- *258
-- *258
Last Sale 260 Aug'12
123 123 *123 125 5123 125 *123 125 5123 125
*123 125
*125 ---- 512412 12512 012412 1251:512412 12512
Last Sale 126 Sept'12
85
_ *84
84
85
*84
*84
85
85
*84
85
12812 1281: $12813 129 012712 129 *128 12812 128 128
128 128
19
19
*1812 1912 *1812
_ *1834
*1834 1914 *1834 19
-7612 77
7678 77
77
77
7612 77
76
7612 77
78
13612 13612 13612 13612 13612 13612 136 13614 13614 13614 136 13678
130 130
Sole 203 Aug'12
1/8.
177
17412 175
*174 fiti" 175 175 *17412 178
50
50 4,
50
50 *____ 52
50
*46
50
17012 171
.6:34 16034 17012 171
172 172
16812 16312 316833 16858 ia
Salt
*8614
Last
8934 *8914 3934
30 July'12
8912 *8918 8912
*89
--- 8152
Last Salt 157 Aug'12
*155 ---- 5155 ---- *155
8412 -2412 *84 -85 - *84
85
85
58238 8234
85
*84
85
99
99
*98
99
*98
98
*98
98
99
*98
*98
99
*___
Sales
of the
Week
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Range since Januar/ 1
On basis 01 100-share tots
Lowest
Highest
Railroads
60 Atah Top Is Santa Fe_100 10378 Feb 10 11012 Aug 15
1)o pre.
100 10112 Jan 12 10414 Feb 7
1
33 Boston & Albany___193 212 Sep 1,4 22212 Apr 3
100 120 Aug 7 134:14 Mch 25
81 Boston Elevated
100 204 J'nelu 218 Jan 4
2 Boston Is Lowell
16) 9412 Sep 253 10012 Jan 3
340 Boston Is Maine
300 Apr 27
Boston Is Providenoe_100 297 May
1. Maya.
13 Jan 24
Boston Suburban El Cos_
16 Jan 23 80 J'ne 5
Do peel
9 Aug 14
1212 Jan 6
Boston Is Wore Elec Cos_
50 Aug...., 57 Jan
Do p,-e,
10
Chic Juno My & USY.100 165 May 0 170 Jan 15
Do pref
101312 Jan 2 112 J'ne 14
6
Connecticut River __ _100 260 J'iy 24 272 Jan la
100 12214 J'ne 1 128 Jan 25
3 Fiteh burg. pref
Ga Ry Is Elea stmpd_100 124 J'ne
4179 Apr 1
Do preZ
100 84 Sep 16 9112 Jan 6
20
100 125 J'ly 2.4 14738 May31
192 Maine Central
2313.1811 h
100 1814 J'iy
120 Mass Electric Cos
Do pref Stamped _100 76 J'ly 30 83 Feb 23
311
281 N Y NH Is Ilartford_100 13312 May 13 14238 Apr 2
143
Jan 24
Northern N 11
100 130 Sep 14
Norwich Is War pref...100 203 Aug 0 21212 Jan 20
31
187
Jan
Jneld
Old
c174
Colony
100
33
100 41 Jan 2 70 Jan 14
15 Rutland pref
100 16012 Feb 1 17434 Apr 5
563 Union Patine
9212 Feb 8
Do prci
100 90 J'ne
Vermont Is 751a88
100 157 Aug 2 164 Jan 16
Ed St
50 58238 Sep 20 888 Feb 24
27
Do pref
50 98 J'ly 11 10312 Mch 14)
2
Range tor Previous
Year 1911
Gowan
Highest.
10058 Sep 11614 J'ne
101 Sep 108 J'ne
119 Apr 226 Feb
12412 Sea 13012 Aug
207 Feb 218 Sep
11612 Oct 12233 Feb
202 Mell 300 Men
16 Mch
12 Sep
70 Oct
7614 J'ne
13 J'iy
• 0 Feb
3812 Jan
58 J'iy
150 Apr 171 Deo
107 &lob 11512 fly
265 Jan 272 J'ne
125 Apr 130 Jan
711712 Jan 2104 Oct '
,813 Feb
9312 J'ne,
135 Sep 215 Jan
24 J'no
16 Apr
127.4 Sep
130 Jan
210 Jan
183 Meb
32 Jan
15312 Sep
00 Mob
150 alch
88 Sep
10J Aug
151413 Feb •
142 Mch
214 Nov
190 Nov
45 Deo ;
19218 J'ly
9518 May
16418 Dec ;
93 Meta
105 Jan
Miscellaneous
5734 5812 5834 59
5814 5814 5914 5934
833 Amer Ar.aricul Chem_ 100 6758 Sep 16
D
peel
100 59958 J'ne 23
101 10119 101 101
101 10114 101 10114
330
3 Aug
e4
41: *4
412
4
120 Amer Pneu Servio..._ 50
4
418 418
Do pref
50 14 Mch 20
18
1817 *1712 18
475
1758 18
12618 1271F 12714 12712 127 12714 127- fir
502 Amer Sugar Melia_ _100 11434 Jan 10
Do pref
109 11512 Jan 4
122 12212 12234 12234 122 12212 122 12212
171
14378 1443F 14414 14412 14418 14438 14438 14412 1,803 Amer Te1•414 Is Teleg_100 13712 Jan 2
Amer.can Woolen__._100 25 Jan 31
*2912 3012
Last Sale 30 Aug'12
Do pref_100 86 Feb 5
9117 1,063
9114 91li 913 9134 • 9114 9134 -9112 113-4 91
9134 91
83
33
*82
*22
83
*82
10 Amoskeag Manufacturing 77 Jan 3
83
84
*81
83
83
83
59014 J'ne 21
Do peel
50
101 101 *101 102 *10112 -___ 510112 ---- *10112 ____ 102 102
5 Aug 2,)
16 AU Gulf Is W 188 L_100
*678 8
*678 8
612 617 *673 8
*078 8
673 678
1012 Aug 21
Do
pref
100
*12
1314 *12
12
*12
1314 *12
1314
1312 1112 12
14
*12
10 1034 Jan 2
1412
1414 1414 14
1412 1414 1412 14
1414 *1414 1412
615 Bast Boston Land
*14
29012 29012 291 291 *29012 292
29012 291
106 Bdison Elea illurn_100 289 May23
291 291 *200 291
100 155 Jan 2
18112 18112 18234 18234 18134 182
93 General Blectric
182 182
*180 18111 *180 182
89
9039 1,417 Massachusetts Gas Cos100 58818 J'iy 13
8914 8912 9012 90
8812 8812 8812 881.2 *8812 89
Do
pet
100 9312 Jan 5
91312
200
9558
95.58
961:
95
3
4
9612
9573 96
9553 9558 9558 96
100 21/ J'ne21
50 Mergonthaler Lino
22412 22412
*222 230 5223 226 *22412 226 *222 225 *22412 225
212 Mch 14
10
*334 41:2
4
4
4
4
*418 412 *334 412 *334 02
25 Mexican Telephone
*98 102
*98 101
*98 102
5 N E Cotton Yarn_.._..100 100 J'ne Li
*93 103
*98 102
103 103
Do prof
100 98 J'ne 2,3
.22
10014 10014 10014 10014 5100 10014 5100 10014 *100 10014 100 .100
100 150 J'iy 1.4
153 15312 153 15312 *153 15312 15312 15312
143 N E Telephone
154 154 *___ 151
Portland (Me) Elec_1440 7212 Jan 17
Last Sale 90 24e1i'12
100 158 Feb 1
167 167 8167 168- 168 168" 168 16819 168 16812
173 Pullman Co
167 167
Reeoe Button-Hole..,, 10 1334 Jan 2
1634 *16
1634 *16
1634
*16
Last Sale 1613 Sept'12
1634 *18
Swift
Is
Co
84813 Jan 2
100
10312
10312
106
106
10534
106
456
10512 106
10534 106
10578 106
25 2/ May L
2312 1,096 Torrington
2812 2812 2812 2812 2814 2812 *28
28
2812 *28
28
25 28 Jan 5
Do peel
*28
28
29
29
2817 *28
*23
*28
29
20
29
*28
20
100 Union Copper L & M 25 .85 Jan (1
218 218
100 h174 Sep 16
117-6
.
1-2
180 182
1-7-8-4 178 17812 2,530 United Fruit
25 4614 Jan 16
656 Un Shoe Mach Corp
5412 5412 5418 5418 55313 54
54
54
54
54
54
54
peel
Do
25 2788 Jan 10
2912
*2918
317
52834 29
29
29
2912 2953
29
29
29
29
100 6838 Feb 13
7214 7238 7238 7234 7212 7412 7373 7434 74
7412 7412 7512 12,280 U El Steel Corp
Do pref
100 107l8 Feb 13
113 113 *11314 11334 *11314 11334 11314 11314
113 113
55
113 113
6334 Mch 23
105 MehIS
514 J'ne 10
21 .1 nelb
13358 Mact,
12334 Aug A.
199 Mch'.5
30 Mch 22
9414 Mch 23
84 May a
105 Meh 26
9 Feb 14
20 Jan 18
1714 May27
300 bictt27
18778 J'iy 22.
94 Motile
9878 Feb 114
229 Aug 2.3
412 J'ne 26
105 Jan 18
107 Mch 20
164 Mcht4
90 Mch21)
174 Aug 21
1738 April
109 Mch 27
32 Jan 10
81 Apr 17
334 Apr 8
20812 J'ne it)
5712 Aug 244
2934 Sep 13
7512 Sep ou
11384 filch 253
46 Sep
90 Jan
312 Atbt
1218 Aug
112 Sep
11134 Jan
13158 Aug
2612 Dec
8512 Oct
7712 Dec
09 Dec
738 Dec
1412 Nov
714 Jan
278 Sep
142 Set)
8734 Jan
93 Dec
211 Jan
3 Oct
103 Oct
101 Nov
137 Jan
6234 J'iy
163 Sep
512 Jan
9734 Sep
29 Sep
27 Meh
34 May
4178 Dec
4014 Aug
2613 Sep
50 Oct
10312 Sep
6334 Deo
10514 Meh •
612 Jan 1
1914 Jan
122 Feb
12013 May .
15314 J'ne •
3614 Slch t
9613 J'ne
81 Nov
10013 Dec
11 Slay
26 Jan •
12 May.
297 Dec
1673.1May
9634 Aug
9812 Oct
236 Aug
478 Jan
119 Mch
11612 Meti '
16512 Deo
7334 Nov •
103 Jan
15 May
104 J'ne
36 Jan
31 Jiy
1113 Mch
19712 J'iy
5878 Feb
2014 Jan .
8218 Feb
12012 Feb
Mining
514 Mch 28
25
250 Adventure Con
414 Sep 16
25
555 Algomala Mining
Aiiouez
25 3814 Fen 1
575
3,504 Amalgamated Copper 100 60 Feb 1
1,230 ..4m Zino Lead Is sm.. 25 2412 Feb 15
2 Jan 2
1,873 Arizona Com'l ctis dep..
Bonanza Dev Co
10 .40 Men
614 Feb 1
375 Boa &Corbeop &SliMg 5
410 Butte-Balaklava Cop., 10 21640 J'iy 25
riutte Coalition
15 2134 Jan 18
10,828 Butte & Sup Cop (Ltd) 10 1912 Feb 7
3,017 Calumet Is Arisona_ 10 5712 Feb 1
25 405 Feb 1
161 Calumet & Hecht
25 1712 Jan 5
395 Centennial
2514 Feb 28
2,606 Chino Copper
Cons alercur Gold_ _ 1 .03 Mch 26
1,465 Copper Range Con Co 100 50 Jan 31
4 Sep 13
20
935 Daly-West
7,222 Bast Butte Cop Min.._ 10 1214 Jan 15
8 Sep 14
25
4,345 Franklin
418 Feb 27
4,185 Giroux Consolidated.. 5 33
Feb 6
3,804 Granby Consolidated_100
712 Feb 22)
20
3,484 Greene Cananea
2334 Sop 14
2,295 Hancock Consolidated 25
93 .09 Aug 2.3
Helvetia Copper
25 1138 Jan 16
4,800 Indiana Mining
4,915 Inspiration Consol C.. 20 18 Feb 6
4012 Jan 17
1
1,105 Island Creek Coal
Do pret
1 85 Jan 13
212
25 2034 Jan 15
8,521 Isle Royale Copper
2 Apr 11
1,415 Kerr Lake
25 .80 Jan 2
1,171 Koweenaw Copper
25 3212 Feb 1
1,545 Lake Copper Co
412 Feb 15
25
185 La Salle Copper
1,150 Mason Valley Mines_13 1078 Feb 8
612 J'iy
25
560 Mass Consol
234 Jan 3
25
740 Mayflower
5 2338 Jan 20
174 Miami Copper
85
Michigan
2 Jan 2
25 5012 Jan 30
610 Mohawk
1,787 Nevada Consolidated_ 5 1814 Jan 29
3 Aug 13
75 New Arcadian Copper 25
5
534 Jan 3
971 Nipissing Mines
15 2234 Feb 1
15,006 North Butte
334 Sep it
25
1,170 North Lake
378 Sep 13
25
ibwaY Mining
1,125
268 Jan 2
23
6,411 Old Colony
25 44 Jan 31
715 Old Dominion Co
23 106 Jan 15
416 Osceola
15 Mch 27
10
6,490 Pond Creek Coal
25 7313 Jan 25
291 Quinoy
10 1618 Jan 29
5,739 Ray Canso( Copper
1 Jan 31
1,925 Santa Fe Gold Is Cop_ 10
9 Jan 31
10
1,378 Shannon
300 South Utah M 63 S.._ 6 .48 Sep 6
25 24 Feb 1
740 Superior
114 May24
308 Superior& Boston 2lIn 10
2$ 26 Jan 31
20 Tamarack
5 Jan 16
25
115 Trinity
253 J'iy 27
300 Tuolumne Copper _ 1
13,090 U S Smelt Ref Is Min_ 50 34 Jan 31
Dt peel
742
50 47 Jan 10
2 Alay21
170 Utah-Apex Mining..,,.. 5
912 J'ly
5
542 Utah Consolidated
1,300 Utah Copper Co
10 52l Jan 29
278 Aug 14
20 Vle.oria
25
4 Sep 13
215 Winona
25
3,059 Wolverine
25 7513 Sep 14
134 Pm 5
25
div. is Ex-rights. a Ex-div. and rights. a
1114 Apr 20
814 May 2
5018 Jar° 21
89 Sep 20
3314 J'ne 22
678 Apr
.55 Apr 11
914 J'110 6
534 Apr 2
2338 Jan 3
6134 J'ne 12
8312 Aug 2a
564) Aug 2i
2712 Apr 18
45 Sep it
.09 Jan 19
6612 Apr II
712 Melt 27
1533 Apr 11
1614 Apr 1
anioApr a
6014 Apr 26
1034 J'ne 21
37 J'ne 14
2 May e.
23 Apr 24
2183 Jan 24
6534 J'noiu
9114 Aug 1
3678 Aug 21
818 Feb 13
3 May b
49 Apr 10
8 Apr 17
1412 J'ne 27
914 Jan 4
1812 Apr 23
30 J'ly 31
612 Apr 20
73 J'ne
2314 May 1
014 Apr 10
858 lich 25
3614 Sep 18
834 Apr 22
e634 Jaa 11
1314 May 1
6158 Sep 10
13052 J'no 22
2358 Sep 20
93 J'ne 22
23% Sep 20
478 MaY23
1778 Aug 8
114 Apr 3
Y 27
4878
478 Jan 13
51 Apr 18
913 Apr 44
41143 Mch 26
48 J'ly 6
51 Sep 13
31133 Feb
2038 Apr 2
6714 Aug 27
578 Jan 20
734 Men 1
117 Apr 17
31/ Mch 4
Unstamped.
4 Sep
212 Oct
21 Aug
4434 Sep
1934 Oct
138 Dec
.30 Oct
334 Aug
3 Nov
14 Aug
718 J'ne
11 J'ne
4414 Deo
7153 J'ne
3033 J'ne
21130 Dec
.75 May
1512 May
612 Jan
2312 Deo
5838 5834
10034 101
*4
412
*18
19
*12614 127
12212 12212
14378 144
5758 5812
10078 101
412
*4
13
1814
126 12678
123 123
14358 144
17612 177l, 177 17714 177
734 8
412 5
4512 46
8612 8634
3078 3078
*412 434
.45
*6
612
312 312
*734 8
414 414
4512
45
83
87
31
31
458 434
_ _ - .40
63
6.14
3943i 394e
*734 8
434 412
46
46
8712 8778
3112
31
434 5
.46
7
7
312 312
778 778
734 734
_
414 412
46
46
40
46
8778 8814 8812 89
3118 3114 3114 3114
458 431
434 6
Last Sale .40 Sept.'12
*612 7
7
714
314 312
Last Sale 25 -Fe-13112
473
4
4833
4714 4814 4714 48
4712 4812 -47; 18374 -:454 185;
79
7914 7913 8018 80
8114
8012 8012 8114 8012 8114 81
545 550
540 540
540 540
540 549
550 553
540 545
1978 1078 20
19
19
19
19
20
el9
20
1713 10
45
4334 1412 4434 4434
*4212 4234 4234 4434 4414 4434 44
Last Salt 04 Aug'12
-6734 -5-7-3-4 5712 5774 5714 5778
IF 18-1-2 57 173-4 5734 63
4
4
4
4
418
*4
*4
414
4
412
4
1438 14
14
14
1414
1414 1478
1334 1378 1378 1418 1334
912 934
834 934
813 914
934 10
8
834
9
912
314 314
513 538
514 5140
514 Pre 53re 514
514 514
5834 58
5814
5614 57
5612 5618 57
5634 5714 57
56
958 97F
931 979
958 958
912 934
9131.3 978 . 912
1
2513 2614
2612 2614 27
2614 27
2414 2472 25
2334 25
Sep'12.
1 5.00
Last Salt 34
1
1 *.00
*34 1 8.80
1334 14
1568 1512 1534 1514 1579 12
1534
15
1712 15
1873 1939 1012 1912 1912 1912
*18
1812 1813 1818 1814 1814
54
5812 5812
57
55
55
5312 55
54
54
56
*53
89
90
80
*8834 8914 8914 8914 89
89
90
*89
90
34
34 • 3414 3418 3538 .3434 35
34
35
36
3334
28, 2411, 3334
258
253 258
213 212
25F
212 258
213 258
1
118 114
118 118
1
1
Ile
1
1
118 114
36
35
35
3573 36
3434 3512 35
3512 3558 3534 36
512 512
312 54 *313 6
5
5
512 512
578 573
12
1234
13
1278 1278
12
1214
el2
1212 *12
1234 13
*7
712
7
712 *7
714 714
714
7
7
*7
712
1314 1314 1314 1212 13
1212 1234
1378 1314 1314 13
• 13
2918
20
29
29
*2834 2914 2878 2914 *2834 29
29
29
*214 212 *214 214 *214 212 *214 21:
Last Salt 212 Sep'12
6714 6714 6712 67
6712 6(512 6612 6618 67
*66
*67
68
2232
2214 2212
*2178 2218 2214 2214 2218 2214 2212 2212 22
*312 4
*312 4
312 358
*312 334
312 312 *312 4
814 812
814 817
812 812
814 814
812 812
*814 812
302 35
3314 3314 3312 3412 308 3434 3458 3514 3412 351F
5
5
5
5
414 412
5
414 5
334 417
378414 *4
4
4
378 378 *334 4
*334 4
412
914 934
978 91516
•
912 1014
912 918
9
34 934
9
3
4
1014
60
6044 6012 601: 60
59
6028
60
6012 60
6014 x59
11318 11414 110 113
109 109
112 113
112 112
109 112
2218 22
2214 22
221: 2258 2358
2112 2134 2134 2214 22
8712 87
87
88
8711
8712 88
88
86
8714 87
88
233e 2358 2378
*2112 2134 2163 2218 2218 2278 2212 2314 23
338 3344 *338 212 *312 334
313 358
333 312 39143
1558
157
1512
1568
1552
e
1512
1512 1534
1534 16
1558 1558
.61) 5.55 .60 5.52 .56
.65 *.50
9.60
.70 .60 • .65 .65
4514 4412 4512
4413 4514 45
45
45
44
43
44
44
113
15F
158 158 *158 178 *168 134
112 117
4117 4114 -411*40
42
4
42
42
*40
42
*40
42
*40
4.3t2 6
*312 6
*512 6
6
6
512 512
*512 6
*2.3
278 278
4 21543 *234 275
*258 278 *234 278 , 234 234
4618 4612
46
4634 4714 4614 47
4614 4638 47
4614 46
5034 5034
5012 5034
Si
Si
51
51
5078 5078 5034 61
214 214
214 214
214 214 *214 238
*214 2.1s *214 212
11
*11
11
1112
11
11
11
11
1113 11
11
11
641* 6515
6412 6412 6478 6478 6512 653.1 6434 6618 6418 6411
*23
4
3
*234 3
3
3
*234 318 *234 346 *234 313e
412
412 412
412 412
*4
5
414 414 *414 417 *4
80
8012
7512 80
76
79
82
7712 8112 79
7914 31
Sen'12
ban Safe 2
*2
*178 211 *178 21„
21A
,t Bid and asked prices, a New stook. e Asst't paid. 6 Ex-stook
734 734
414 414
46
46
8612 87
3034 3034
414 45e
.46
*614 7
334 334
62154 Deo
45 Sep
360 Sep 545 Jan
19 Dec
8 Aug
2712 Deo
1633 Sep
03 Nov .15 J 'Jae
6934 Feb
4634 Se',
3 Feb
7 Dec
1434 J'ne ;
873 Aug
14 J'ne
513 Aug
338 Sep
818 Feb
4312 J'ne
26 Aug
858 Dec
5838 Oct
8112 Dec
17 Sep
2 Feb
,34 Sal
)
16 J'ne
5.4 Oct
2914 May
8218 Sep
1112 Aug
258 Oct
12 Nov
22 Aug
8 Aug
612 Apr
412 Aug
,20 Feb
1673 Set)
114 Nov
30 Apr
15 Sep
2 Aug
5613 Dec
20 Sep
334 Aug
358 Dec
.50 Jan
3414 Sep
81 Sep
44 Deo
91 J'ne
23 Dec
778 Jan
834 J'ne
40 J'ne
6 Jan
1178 Dec
al° J'ne
3133 Deo
2438 Dee
312 Jam
57 Dee
2114 J'ne
414 Aur
1138 Feb
3614 J'ne
934 J'ne
812 J'ne
813 J'iy
49 Jai°
184 Jan
66 Sep
12 iSep
34 Apr
7 Oct
12 Dec
20 Oct
6218 Ooc
20 Sep
278 Oct
134 Sep
3038 Sep
4514 Aug
178 Nov
934 Jan
33 Set)
1 Aug
334 Nov
74 Nov
.30 Nov
76 Dec
11) Deo
131 Jae
12t Feb
1133 May
4212 Jan
814 Joe
62 Jan
513 Deo
478 May
4018 J'ne
4912 J'ne
312J'ne
20 rite
5718 Dee
418 Dee
912 Feb
128 Feb
2 Feb
739
Boston Bond Record
SEPT. 211912.]
Price
Friday
Sept 20
BONDS
BOSTON STOCK EXCHANGE
Week Ending Sept 20.
Week't
Range or
Last Sate
Range
Since
Jan. 1.
o
High No
Ask ',ow
bid
i(1138Sep '10
—
Am Agricul Chem 1r, 5s__ _1928 A-0
8018 6,
80 Sale Ii
Am Telen & Tel coil tr 4s_19211 J
S 112 114 11112 J'ly '12
1036
Convertible 4s
'12
89,8J'ne
J
J
ig_1916
Am Writ Paper 1st s f 5s
1915
---- 131
Ara Zinc L & S deb 6s
J'ly
82
dep.
of
etts
Os
1st
Cop
---Ariz Coin
ie34
9634
Atea Top & 8 Fe gen g 4s 1903
91 Mch'12
Adjustment g 4s___Juiy 1005 Nov
9l J'ly '12
_
July 1003 sl-N
Stamped
10134 Sep 'is
1055 3-1)
50-year cony 48
110)8 Mcla'll
1017 J • D
10-year cony 5s
03
6258
Sale
-3
J
-(1:1
53_1051,
Lines
SS
1
W
to
Gulf
AU
9518 Feb '12
045 11-N
Boston Elev 30-yr g -,
10014 M.ch
1916 J -J
Boston & Lowell 45
10412 Oct 'us
1944 J -J
Boston & Maine 4
193. 1:-A
Improvement 4s
05 Feb '12
194:: F-A
Plain 4s
103 J'ne
1016 J -J
But & Mo Riv cons Gs
11138 Sep '11
Cedar Rap & Mo It 1st 7s 1915 SI-N
ow:
9012
Cent Vermt 1st g 4s__ May 192i, Q.F
1103 Oct '07
C 13 & (,) Iowa Div 1st 5s_1915 A -0
90 Aurr.
1915 A-0
[own Div 1st 43
10038 J'iy '12
N
1913
Debenture 5s
1/971 Feb '12
13. A
Denver Exten 4s
9812 M ch'12
1027 sI-N
Nebraska Exten 43
Feb '11
9918
1921
4s
136:8Wst
8713 May'12
1945 J -J
Illinois Div 3 1ss
40 /4
10,334
Chic Jet fly & Stk Yds 5s la I., J J
88 Sep
Coil trust refunding ig 4s_194u A -(3
114 Jan '11
Ch Milw & St P Dub D Gs..1925 3-3
11338 Feb '11
Ch 51 &St P Wis V div 6s 102u J J
31 Islay- 12
Ch & No Mich 1st gu 5s_1031 II-N
9514
9614
1021 J -1)
Chic & W Mich gen 58
57I2Sep '1I
1920 3-i)
Concord to Mont cons 4s
'11
Aug
10014
11-N
1924
53
g
Cudahy Pack (The) 1st
100 Aug '12
1026 A-0
Current River 1st 54
'12
8014
Sep
1945
A-0
4s
1st
W
&
Rap
Bet Gr
J'iy '12
104u A-N
Dominion Coal 1st s f 5s
10318 Apr '05
1915 4-S
Fitchburg 45
96 Apr '08
1027 M48
12712 3,1en'12
1033 A-0
Freint Elk & Mo V lot 6s
127 ‘ich '12
1933 A-0
Unstamped 1:t Os
Low II
1011410234
89 9114
10834 11534
8978 90
103 131
51 88
0634 9934
91 9218
8912 9158
1004 10818
623 -6814
95 951s
9a 03
103 1031,
-8-0-12 112-14
99 9919
1003810112
0Vs 100
9812 9838
804 873.1
.0012 10134
87 91
21-- -92.9614 101
fo-0-1-4
9914 10:3
80 8614
9834 9914
12712 12712
127 12712
BONDS
BOSTON STOCK EXCHANGE
Week Ending Sept 20.
a
Przcc
Fri.ay
Sept 20
bid
General Motors 1st 5-yr 63_1915 A-0
Gt Nor C B & CI coil tr 4s__192I J -J
1921 Q
Registered 45
1013 A -0
Illinois Steel deben 5s
fa Falls & Sioux C lot 7s_19I7 A-0
102, A-()
Kan C Clin & Spr lot 5s
Kan C Ft Scott & Mem 6s 11)28 11-N
11134 ‘1-S
Kan 0 AI &II gen 4s
11134 4- S
Assented income 5s
Han 0 & M My & Br 1st 53_1029
()
Marq Hough & Out 1st Gs_1923 A 0
19211 J -J
Mass Gas 4 Ms
Mich Telephone 1st Os
1111i J J
New Bug Cotton Yarn 5s_1020 F A
New Eng Tel.ph 5s
191,, A -0
58
1913 A-0
New England cons g 5s
1945 -J
Boston Term 1st 4s
193:, A-0
New River (The) cony 5s1034 J -J
N Y N II & II con deb 3 ms_1932, J -J
1048 J -J
Conv deb 68
1924 F- A
Old Colony gold 48
Oregon My & Nay con g 4s_13/46 J 11
1022 F - A
0reg Sh Line 1st g Os
Pere Marquette deb g (331j12 -J
itcpub Valley 1st s t 6s_101:. J -J
:3avannah Elec 1st cons 5s 1052 J -J
1935 F A
Seattle Eiec 1st g 5s
1015 31- N
Shannon-Ariz 1st g 6s
102'.., 3-3
•ferre Haute Elec g 5s
11113 51-s
Torrington 1st g 3s
Union Pac RR & 1 gr g 4s,,_1941 -J
192i J
20-year cony 4s
United Fruit gen s t 4 Ms_1023 J -J
1923 .1 J
Debenture 41s
U S Steel Co 10-60-yr 5s Apr 1033 11-N
A
1915
West End Street My 4s
1014 31-S
Gold 4 Ms
1916 1I-N
Gold debenture 4s
1917 F - A
Gold 45
1932 J -J
Western Teleph & Tel 5s
Wisconsin Cent 1st gen 4s_ _1949 - I
Ask
51
1 :s
ee
_. ...
e:.. ‘3
9,-,
Range or
ts _
a,1 _Sa7
6, 12)
5L
Range
Since
'an. 1.
Low
9914
9914 'High
-:
62 -A1
5(1:7'
,14 Febeb
;
, L.9"
/1
9,34 Sale
_
9538
851
534 9'7
95
100 1003
i0o
100
..
---- 117 Apr '08 -----------07 l'sli•h 12 ________
2 177
6113
13
19
712
-_---_ fig 11312 Sep '1:
9212 Sep ',2 ____ 92 0212
6.i1 3 _
8412 89
8, Aug.':
89
103 ____ 10i J'ly '1 ___. 10212 10234
115
,l'ne'us
- 2
09-11 -1T.9 it;
71; -1
97 08 .»I4
10018 10013
10018 Apr 1:
9/
.)I
_ 0/
9 1 99
10118 Meh'll ------------___.
10012Sep 'Os ____
4 -9278
-923- - ---- 2978 Jan '1.
---- i.;- riJC -ii ---- ---- ---24
..,214 Mch'12 -_ -_ -_ -_ -921-4 24s
11). ____ 12814 13212
0/18
1 28
,
Se p '
101 Apr '0', ---- ---- ------112 J'ne'12 ____ 11-2 - 1131
4
95 Jan '12____ 95 95
---_
_
_
_
1
-_-,
1
,
:
c
en
a
p
J
0
73/4
10
10312J'iy '1: -_-_-_-_ 1-0-3-1-2 1-6514
8312100
,7 Aug'1: __
97 Apr '0.
101
10913 15f1: 1,1
1001R J'ly '1'-----11)018 10058
8
0-11-71-0
-4 1
178
SIC3
. 1-10
.
10178 Aiay'12 _.
961..
i ' _11 0
'¶-i(ais
612
t)5
j
95
5 9
54
111182
418
09
1.58 19
(9
218 A
ut)
lu
agy:112 _ ___ T
mu
10014 Feb '12 ____ 10014 10014
---- — -____..
_...._
_
0878 Apr '1:
__
9812 Nov 11
193
21-6
3
-911(
1.i,
041„4 S
1l?
i:ee):11
No price Friday: atest bid and asked. 11 Flat price
NOTE.—Buyer pays accrued ini,erest in addition to the purchase. price for all Boston Bonds. •
Philadelphia and Balti.nore Stock Exchanges—Stock Record, Daily, leekly, Yearly
Saturday
Sept. 14
Monday
Sept. 16
1 112
*115 117 ,
4,11212 -1718 1718 17 -177-1-4
631
68
60
69
126 12634 12612 1261:
2218 2212
23
*22
*4912 501:
2614
- *26
26 26-18
7'itesday
Sept. 17
x11412
114
*17
69
126
*22
50
2618
Inactive Stocks
'
10
American Milling
au
Cambria Iron
Central Coal & Coke_100
100
Preferred
100
Con3o1 'frac of N .1
30
Germantown Pass
' Huntington & 13 T____5()
Go
Preferred
1ndiana Union Tr_ ___100
10
nsurance Go of N A
: nter Sin Pow 6: Cliem_5u
nterstate Flys. pref.._ .10
' Kentucky Securitles_10,
104
Preferred
•
Keystone Telco v t c .50
50
Preferred
Keystone Watch Case_ I uu
10
Lit Brothers
50
Little Schuyiklil
MinchIll to Schuyl 11.......50
Nat Gas Flee Lt 6:. Po_100
100
Preferred
North Pennsylvania _5(1
50
Peunsylvaula Salt
Pennsylvania Steel __ill,'
1(11)
' Preferred
Phil!) Co (Pitts) pret___54
Phil German & Norris __5 1
50
Pailla TeactIon
10
Hallways General
Tonopah Belmont DeV_-1
United Cos of N J____100
UsitN1 'frac Pitts pret_50
Virginia Sty & Pow__109
100
Preferred
Warwick Iron Fe Steei__10
Washlngton-Va Ily__. 10,,
100
Preferred
iou
Weisbach Co
West Jersey to Sea Sh__50
Westmoreland Coal__5u
100
Wilkes Gas & Elec
5,
York Railway
50
Preferred
Wednesday
Sept. 18
Friday
Sept 20
11534
212
4414
48
*12
57
3014
7014
1134
3418
:13
4E,
1618
32/8
62
52
2.114
2873
8458
7
5278
9138
Iiis
21;
4114
4814
311r
7012
1212
341,
9414
8117
1612
33
6214
52
2418
29
843!
7116
52,8
9112
112
1712 1778
*6714 6712
125 12512
*2234 2358
*5012 51.12
2614 2614
i 110
.
212
*2
*2 _-4.118
4414 4.114 44
4914
4778 4817 48
*12
12
12
565g 504
5612 57
30
30
30
30
70
7034 70
70
12
12
121g 1214
*3'378 3458 3378 337,
955,
94
04
93
845g 8458 85 8551i3
1612 1612 1614 1611
3278 327, 3234 3234
6218
62 6231e 62
*52
5214 5212 5234
2414
2414 21
*21
2834 287,,, 2878 281,
8412 81"to 8434 86
612 678
6316 7
5234 527, 5278 53
9158 9134
9158 92
LADELPHIA
Bonds
Prices are all "and
21: 234
Interest'
4314 437,
881: 901: Alt & L V Mee 4 10'33F-A
Am Gas & Iliac 5s '07-F-A
82
81
A-0
Am Rys 58 1917
C ,ias 1st s 5s 030_,I-J
Atl
_
lot 6321 J-J
"if" ____ i3erg&EBrew 6s
1908-Q-F
Bethich Steel
261:
thioc & Ole 1st 5s 1949 -J-J
-211-4 -211; Ch Olt & G gen Os 1919 J-J
Con Tine of N J lot 53 '33
Del Co itys tr ars 48'49J-.4
Elec & Peoples Tr tr ctts__
Tactoli 1st 53 1910.J-J
.
(Ien Asphalt 5s 1016-M-5
Indanap lty 43 1933__J-J
45
44
interstate 43 1943—F-A
1.;'; Keystone Tel Os 1935_J-J
19
5r'1
_ _ Lake Sup Corp Inc 53'21_0
1,entigh Nay 4[4s '14....Q-J
Gen 11 4 sis g 1924_Q-F
30
80 ____ Leh V C 1st 59 g 1933 _J-J
Leh V ext 4s lot 1948-J-D
Coaso Os 1023
J-D
1(-)3!-• 1:09 Consoi 4 133 1923
J-D
Annuity 63
-D
971; 39J
Gen cons s 2003 __M-N
431; 44
Len V 'Iran con 43 '35 J-D
1st series A 43 1935_11-S
83 83I
lot series 13 5s 1035 111-S
Olf
01,
IlarkeLStEl lot 4s'55
SatLII&P ser 11 Os '19 J-J
Sew Con Gas 58 1948.4-1)
'IV Pn & No 1st 44'39 J-J
income 4s 1939
M-N
; -a- Pa & N Y Can 53 '39_A-0
-1(115114 513 Penn Steel Lot
79 801 , Ptople's Tr tr etts 4s 1043
411; P Co ist&col, tr 5s'49 M-8
Con & coil tr 53 '51 1I-N
52 :is,:
Phil Elm! gold tr etts_A-0
—
Trust Ws 4s 1949 __J-J
p & S gen M 5s fr '20..A-o
is
Gen 51 45 g 1920.._A-0
35 36
!Bid and asked; no sales on this day.
7'hursday
Sept. 19
1-1-6.114 /11212 115
- 1712
1714
171r
17
1714
6714
681,,, 67
67
69
126 126 x12512 12612
126
---61
50
2614 *2013 2614 ;20- 26-14
4414 -411-4 ;17
1- 411;
;14- -4-4171
4714 4714 4714 473, 4712 484
*12 -*12 ---- *12
5(i14 5634 5612 5€'4 5612 57
3112 3114 311;
31
31
31
7012 71
*7012 71
7012 71
1214 123.:
1212 1234 1212 13
341: 3414
34
31
34
911: 9134 9314
00
00
_90
8338 8338 *8312 835. 84510 81516
1618 1612 1638 167, 1614 16t:
3234 33
3332
33
3318 33
611510 62
6178 621ts 611516i32
511, 5112 511:
51
*5112 52
21
2418 2414
24
24
. 24
2838 2:04
208 2878 2838 2872
81 84nte
s83910831110 8313 811,
7,,
7
712
7
Vie 718
5278 5278 5238 523, 5234 52
9114 9118 0114 0118 9114
91
PHILADELPHIA
Saler
ACTIVE STOCKS
ol the
Week (For Bonds and Inactive
Stocks see below)
Shares
limos
Share en:as—Not 0er
11 Ex-div. & rIghts.
1319
/,ange ior Previous
Yeas (1911)
hangs since
January 1
Lowest
Highest
Lowe.it
Ilighsst
Baltimore
Con Gas El L & Pow_100
100
pret
Do
10
2,809 Houston Oii tr (312_100
pre: tr ctts 100
Do
1,880
50
386 Northern Central
100
31 Seaboard Air Line
100
prei:
Do
17
320 United Ry to Electric_ tai
64 Jan
117 May 6
96 Jan
80 Jan
116 Apr 3
101 Jan
7 Mch
814 Jan 3 18 Sep 16534 Jan fr, 7213 J'iy 1, 45 Feb
121 Jan
12434 .Ply 31 130 Apr
20 Jan
2218 Sep 16 2714 May.4
33 Jan
4812 sten 14 551.1 J'ne lo
1612 Jan
2658 Sep
1814 Jan
9512 Dec
101 Sep
10 Aug
70 J'iy
13034 J'ne
27 J'ne
50 Nov
1978 J'ly
Philadelphia
60
5 American Cement
305 American Italiways_ 50
50
16,274 Cambria Steel
25 Electric Co of America 10
2,9-17 Elec Storage Battery_100
100
1,277 Gen Asphalt tr ctrs
pref tr ctfs_100
Do
1,455
3,468 Keystone Telephone_ 50
1,585 Lake Superior Corp_ 100
50
3,777 Leh 0 & Nay tr ars
30
374 Lehigh Valley
3,075 Lehigh Valley Transit 50
50
Do pre:
1,480
50
2,011 Pennsylvania Rit
50
506 Philadel Co(Pittsb)
3,04.1 Philadelphia Ele.c0.._ 25
50
4,870 Phil It T vot tr ctts
50
3,541 Reading*
1
Alining
Tonopah
11,373
50
2,707 Union Traction
5.
5,110 United Gas Itnpt
5 Nov
1 J'ne 11
7 Jan 10
42 Jan
438 J'ne lu 4512 Feb 1
4078 Sep
4119 Men *. 4914 Sep 20
1113 Jan
1212 J'ly
111,2 J'iy 31
4812 Jan
5234 Jan 16 5 8 Aug17
2812 Aug
33,3 Feb 17
18 Apr
68 Aug
73 Jan 3
5934 Apr
638 Dec
13 Sep 16
6 Anr 4
2112 Sep
27 Feb 20 :3514 Sep
8312 J'ne
8778 Mch 20 9538 Sep 2(i
7534 Sep
8.a i 16
7813 Feb 5 92,
614 Jan
812 Jan 3 1678 Sep 16
1812 Jan
23 Jan 12 3338 Sep 16
5038 Sep
611m Jan 27 61'j Apr26
4814 Sep
5)412 Jan 11 5614 Feb 16
1512 Nov
1116/8 Jan 2 2434 Sep 6
1/ Apr
2218 May 6 29 Sep 13
7414 Jan 11 7914 Apr 30 66,1, Sep
814 Apr 15
512.r1ST
63to J'ly 19
43 Jan
4934 Feb 28 53 Sep
8414 Sep
8614 Jail 9 9238 Aug 6
1713 Jan
4612 Nov
4834 Feb
1212 Jan
5618 J'ne
3914 Oct
837 Jan
918 Jan
32 Feb
98 Jan
93118 Dec
978 Oct
2538 Oct
65 Feb
5914 J'ne
18 J'ly
2418 Aug
8034 Feb
858 Jan
5234 Aug
8953 Jan
Ask
PHILADELPHIA
lit-
At.'
BALIIMORE
C [by Ext&Imp 53 '32 MS
Ph & Read 2d 5s 1933 A-0 112 113
91) Chas City [by 1 t 5s'23 J-J
Ex Imp NI 48 1947_A-U
Chas Ity 0 & El 5s '99 51-5
Ili
114
Termin.1 5s g 1941,Q-F
99 9914 City & Sub 1st Is 1922 J-D
1,• '21_J-J
_
P W & B col tr ,
.,ity to Sub(Was)1st 5.3 '46
4 Read Trac 1st 6s '33__J-J
-87- -871Coai & C lty 1,t 5s'19 A-0
95 90 'loch My & L con 5s'5. J-J
Spanish-Am Ir Gs '27__J-J I011-2 itii Coal do I Sty 1st -s'20_ F-A
Stand Gas & E Os'26_J-D jpoi, 1003, Coi &Grnv lot Os 11/16 J-J
Consoi Gas 63 1939___J-1)
1.1i- -_::: Stand SU Wks Ist5s'28 J-J
Gen 414s 19.1___A-0
_
11 Trac Ind gen 5s '19 .J-J
Cons G E & P 4 Ms '35 J-J
-77
/6
ctts
4s'49__J-J
Tr
4
Itys
1.01-2 1023 Un
Fair & Cl Tr 1st 53'38 A 0
101 ___ United Itys Inv' 1st colt t,
Ga & Aia 1st con 5s'45 J-J
81 15s 1920M-N 821: 83
Ga Car&N 1st 5s g '29-4-,
-863-4 -gilq Welsbach s 1 Os 1930__J-D 9312 94
Georwia P 1st Gs 1922__J-,
—_ Wit-B G&E con 53'55_J-J
Ga
so de Fla 1st Gs '45_J-J
1937..J-ll
53
1st
Itys
York
.
---G-B-S 13rtav 3-4s '51_M-o
Linoxy Trac 1st 5.3 '28 A-0
BALTIMORE
-0-2 -5i MaconIty&Lt lit 55'53 J-,
Inactive Stocks
8712 83
Aid Elec My let 58'31_A-0
Ala Cons Coal & Iron_l Oil
83 81
Atlan Coast L (Conn) _100 Ni- 7:73. Memphis St 13t 53 45_J J
---Mt Ver Cot Duck lit 5s__
100 136 134
Canton Co
Nut N do 0 P 1st 53.382.1-N
100 102 103
--- ---: Consolidation Coal
Nor &Port Tr 1st 5s'30 J-D
Georgia Sou to Fla,.__lou 30
-A-U
Noun Cent 4 Ms 192,
95
100
if:if; [1513 1st preferred
-Seres A Si 1926____J-J
100
2d preferred
Series 13 5s 1928____J-,
-41:
4
100 79.. fit'," G-B-S Brewing
P tt Un Trac 5s 1997__J-J
-t.1611- 96:2 Pullman Cone Ventil 100
Pato Val 1st 5, 1941__J,
100 90
Preferred
sav Fie & West 5,'34 A-0
Bonds
Seats Air L 4,3 1050___A-U
Prices are all "and
55 1940____F-A
interest"
Scab & Roan 55 1926__J-J
9271
J-J
Bait City 35-53 1930
South Bound 1st 5s....A-0
4s 1954-1955__Various 9678
U El I.&P lot 4 5-5s'29 11-N
1-N 103
58 1916
----------1
Anacostia 6: Potoin 5s A-0 991; -- -- Un Rs,& El 1st 4s '49 11-s
_
Income 43 1949___J-D
10434
if:f - 114 Ateoast L cony deb 4s3,1-N
Funding 5s 1935___J-D
0'i:14_,
1_9
Ati Coast L(0t)ctfs 53j-D 1.2
M id 3d ser 6s '16__M-s
Va
4s___J-J
indebt
-iif - -0112 Ctts of
4th ier 3-4-53 1921_11,8
J-J
5-20-yr 45 1025
102 10234
5tu series 53 1926__M-S
9138 B S P & C 1st 4 Ms '53 F-A 95 -s ll 01
Va (State) 3s new '32_J-J
103 10312 Bait Trae 1st 5s '29__M-N 106
Fund debt 2-38 1991 J-0
No Bait Div 5s 11142 J•D 107
82 8212
West N C con Gs 1914_J-J
F-A
1938
Ss
Lt
6:
Pow
Car
105 100
wit aa Weld 5s 1935___J-.1
Cent Ry cons 5s '32_11-N DigI 510 paid.
* 13 M
paid.
* 517 M pa'd.
131.1
106
10312
Ask
-551-2
10114
— iti51:1
9214 9312
10012
10734
9512
95
8834
88
10012 101
10534
11112
105 10612
5112
105
9814 j§34
08
7478
99
8912
10913
faS"
109
8614
87
7734 7814
104 105
107
9314
8434
6514 6512
89
10214
109
THE CHRONICLE
740
Volume of Business at Stock Exchanges
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Stocks
Week ending
Sept. 20 1912.
Shares.
Total
Sales at
New York Stock
Exchange.
Par value.
U S.
Bonds.
State
Bonds.
$131,500
140,501
80,00)
296,001
191,000
194,000
$4,000
2,447,557 3219,870,750 $10,404,500 $1,033,000
34.000
57,315
236,321
500,289
434,443
371,551
757,135
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
Railroatl,
dee ,
Bonds.
$5,201,500
21,314,650
51,476,400
39,774,300
34,397,900
67,706,000
Week ending Sept. 20.
1912.
1911.
$508,000
1,403,500
2,289,000
2,364,500
1,676,500
2,103,000
Jan. 1 to Sept. 20.
1912.
1911
85,182,526
90,737,024
4,661,347
2,447,557
Stocks-No. shares_-3219,870,750 3431,821,000 $8,193,649,025 $7,646,722,825
Par value
$523,900
51,436,300
$24,400
$51,000
Bank shares, par
Bonds.
11,070,000
$3,060,000
$160,000
$4,000
Government bonds...
19,827,500
81,159,500
498,000
1,033,000
State bonds
506,952,500
525,758,000
10,494,500 11,199,000
RR. and misc. bonds_
Bid
Ferry Companies
97
B & N Y 1st (Ss 1911_ _J-J
8
NY&ER Ferry stoel_100
50
M-N
1st Is 1922
9812
3 Y & Hob Is May '46_ _J-D
Hob Fy let 521046 M-N
0
9
'
812
1946____J-J 11
N Y & N
10th & 23d Sts Ferry_ __100 25
55
J-D
1st mtgo Is 1019
1512
100
Union Ferry stock
I11-N
94
1st Is 1920
(Vot txxxxv.
Ask
100
15
00
100
____
35
65
1712
98
Short-Term Notes
Amal Copper Is 1913__A-0 9934 10014
Bait de Ohio 433s 1913_J4) 9038 9114
Bklyn Rap Tr 5s 19180v IL.
961? 963s
Ches & Ohio 4 SO 1914
983s 9S58
Chic & Alton Is 11113......M-5
9834
98
Chic Eiev Rys Is 1911__J-J
9712 98
CM Ham & D 4.1 1913__J-J
9834 9914
Erie tts April 8 1014__A-0*. 9934 10014
Coll Is Oct 1 1914__ A-0 0914 9944
9738 98
Colt Is April 1 1915 _A -u
itkEs list.
Gent Motors 6s'15-See N
Hudson Companies0934 10014
F-A
65 Feb 1 1913
Os Oct 15 1913 ...A&OlE
9912 .00
oo
mji,
J&J
Ill Cent 4i.s 1914
9714 uss,
Int & (It Nor Is 1914 F-A
Inter Harvester Is '15_F&A 100 10014
92
K C Ry & Lt is 1012_ M-S /90
05
92
Minn & St L g Is 1913...F-A
981: 09
Mo Ran es Tex Is 1913.M-It
9434 9514
Missouri Facie° Is 1914-1 D
981,
Nat Itys or Mex 4115 '13.J-D 98
eN IC Lines Eq Is 1912-21 8412% 4.4u
434a Jan 1913-1925_ __J-J 0 4.5, 4.46
4345 Jan 1913-1921_ J-J 3 4 5, 4.4a
N Y Cent 4 SO 11)14 _ _M-ts 9914 9034
9934
St L & S F Is 1913 opt .1-1) ne
South Hy g Is 1913._ F-A
9984 10014
Wabash 434s 1913_
94
90
M-N
Westingh'se El & -Os 1913 100 10034
notesOctS17-See NY ilk E x list
Indust and Misceii -(3.orl.) Bid As/41
Atl Gulf&WISS 1.1nesSeeBoe tStkE x list
Barney de Smith Car com100 1212 1712Preferred
100 84 100
Bliss (E W) Co corn
Preferred
l's% 12
70
5 12
°°
5
.I
Bond & Mtge Guar. ____100 285 288
Borden's Cond Milk corn 105 122 124
Preferred
luu 108 111
British Col Copper Co___., *518 514.
Casein Co of Amer com_10)
1
2
Preferred
tie...50
Casualty Co of America too 5
120
Celluloid Co
lisi 143 145
.10., 45
47
City Investing Co
Its, lots 101
Preferred
, 85
90
s Clafiln (H 121 Co corn __10
91,
a let preferred.
.114t) 86
e 2d preferred__ ........ lust 8)
3
73
77
Consoi Car Heating
Jou
13
16
Comas Rubber 'I are_ _WO
Preferred
5°
5
5
69
0
Debenture Is 1051_ A1-4))
1' /5
uc
,.ef
ibe
a CarP
lerrsi
ed
teel coin __-.10/
187a 19
Davis-Daly Copper Co......V
1
'2
141'3
4 °82313
3.
-.Diamond Mates-See Chic 0kEs list,
duPont( 21 do Nem Pow 10u 105 205
a Preferred
lus 98
Gold 434s's0-See N Y ,,, .1 Ex 1st...
:mereon-Brantinghani luu
7734 78
Preferred
lus 10234 103
Empire Steel Sc Iron corn Mu
5
10
$527,850,000
$609,977,500
$11,531,500 $11,857,000
Total bonds
Preferred
tuu 40
45
a General Chemicai corn 100 190 210
l'HE
BOSTON
AND
PHILADELPHIA
DAILY TRANSACTIONS AT
a Preferred
it) 108 115
EXCHANGES
1oodrica (13 F) 00-See N Y silk 1 x list
slreene-cananea-Seetios.s. it Ex 5st.
k Hackensack 11 ater CoBoston.
Philadelphia
86
Ref g 45 '52 op 1912_ _J-J
Week ending
5
Havana Tobacco Co____100
Unlisted
Bond
Bond
Listed
Unlisted
Listed
1912.
Sept. 20
Prelerred
sdares.
shares.
sales
shares
shares.
sales.
2
6
15
4
1st g Is June 1 1112s_J1-01'
1) I 0°
decker-Jones-Jeweil allinn,
$21,000
6,220
6,561
148
9,613
$27,000
Saturday
Oa
10271
1st
al-102
104
59,100
1,747
19,992
9,601
10,871
14,000
Monday
Railroad
10
20
riorring-Haii-Marvin .._ luu
49,600
10,238
14,095
21,750
13,000
9,581
Tuesday
Hoboken Land Sc improve.
22
Chia dr Alton corn..._h0! 18
47,900
1,652
15,000
8,083
18,811
18,400
Wednesday
lit 5a Nov 1930
101, 35
40
Preferred
hi-i. 104
45,800
13,875
6,154
32,000
13,371.
15,103
Thursday
Hocking
140
Val
PM
_Jot)
134
dc Om_
PrOMICt.,__1(k)
712 --EiTi
57,700 e Chia St
21,891
10,695
28.000
20,831
14,150
Friday
1st g Is 1901
e Preferred
.10t
J-J
50
58
35
9 140
6°
,fouston Oil-See Bait stk s c lists
30,634 $281,100 s Colo Sc South corn....100 15
75,383
78,0171 $129,000
99,419
Total
Ingersoll-Rand
corn..
..10(i
a
105
• 1st preferred
76
100 73
...40
a Preferred
Ris 95
a 2d preferred
100 0012 71
1212 "iii
e N Y Chic Sc St Lcom
8712
581, lotercontin Rub com_luu
92
e bat preferred
100 no, ___ internal Banking Co.-10u 87
58.
s
ointernationai
Nickel
o
2d
preferred
IOU
u
1131
133 .
"f
"
interest"
except
marked
'nod
where
All bond prices are now
Preferred
Ha, 106 108
105 110
Northern Securities Stubs_
A-u 109 111
lit g 58 1932
34
B1s1 Ast
Street Rail ways-(Con.)
Pitts Bess & Lake Erie_5() *30
International Salt
/2
Preferred
50 *60
51.1 Ask United Rya of St IsStreet Railways
53
A 0 ,-Er -let g Is 1951
Coot vet tr ctfs
Railroad Securttles Co13
14
.100
international Silver coin 10s, 115 130
8314 85
a Preferred
100 45
lt C stk tr stfs Ser A...
4514
New York City
120
1U.,
130
Preferred
8114
82
Wash
Sty
&
El
18
24
Cu
BSI
West
Pac
1st
5a
1033__M-s.
4301s
1y
stk.100
Biecck St & Fut
J-L 1091, 111
let 65 11149.
Preferred
u5
IOU 94
70
1st mtge 45 1050.___J-J
Internet Smelt Sc Bets_ .4, 124 127
J-1) 8434 8512
43 1951
Standard 011 Stocks
100 175 180
B'y de 7th Ave stk
91
92
_IOC
Co.
(Julius)
dr
Kayser
.21
22
West
3418
3412
Penn
Tr&Wat
Pow
100
Anglo-American
Oil
£1
uthi4 10014
J&J
26 mtge Is 1914
Wu 101 110
1st preferred
Preferred
100 680 1300
101 8258 5312 Atlantic Refining
Broadway Surface RR240 280 a Kresge IS 84-See N Y st it Lx .ist.
Borne-Scrytnser Co
J&J 10234 1.04 Electric, (las & Power Cos
1st Is 11121
45
New York City
Buckeye Pipe Line Co_ __MI .195 200 e Lackawanna Steei___1(10 40
10
Cent Crosstown stock __10t)
let con Ss'30-See N Y at It Ex list.
_ Cent Uri (las Is 1027.......J-J 10112 10212 Chesebrough Mfg Cons 100 700 120
1922___M-N
1st intge
Deb Is PAS-See N Y Stit Ex lk t.
100 170 190
13 o Kings Co El L & P Co...100 130 1.3212 Colonial 011
Con Pk N & E Itiv stock _1(10
Lanston Monotype
100 921: 93/4
Continental Ott
100 875 J25
New Amsterdam GasChristopher&B)th St stk 10u fig 13?
212
20
81: 25
18
77
24
Lawyers' Mtge Co
Crescent Pipe Line Co
60 .73
1st coasol 5$ 1948.....J-J 100 101
Dry Dock E B es 13Lehigh Val Coal Sales..lo°0°
140
J-D 100 10114 NI&ER Gas 1st 5344 J-J 10.112 10312 Cumberland Pipe Line 1110 80
1st gold Is 1932
sisoose41
,
Res
L
x
list
Pipe
420
Y
itk
410
uls-see
N
Eureka
Line
101
C0_1(1u
103
Consol Is 1045
J-J
45
F-A j35
Scrip Is 1914.
Madison rig Gardsn Stubs., *21: 6 •
e N Y Mutual Gas L____100 173 -- claiona-Signal Oil com 100 250 SOO
Eighth Avenue stock_ _100 315
Manhattan Shirt
Preferred
10( 68
6912
100 140 145
u0
F-A I 99 i(if" NY & Q El L dr Pow Co 100 50
Sarin 65 1914
.
14
29
5 15
30
0
siai'nrhea
fetrtre
and
10, 10114 Itilla
Indiana Pipe Line Co__ __5t) *
78
100 70
_ Preferred
426 & Ur St S'y stock_ __100 270
2l8 214
National Transit Co
25
65
Trans.t....- -20
N Y dc Richmond Clas__100 50
42dStM & St N Ave_ _100
Mononganeiatt Con C&C.50
19 .
M'S 1-66 Ida North'n Un 1st Is 1927 Al-N 10012 10112 New York Transit Co_ __100 s378 388
ist 6s 191t)
Preferred
60 *45
Standard Gas L com......_100 60 _- Northern Pipe Line Co_100 130 140
2nd Inc 65 Jan 1 1015--_ /73
Mortgage Bond Co.....109 105 fair.
Ohio Oil Co
26 *130 132
Preferred
100 95
Ninth Avenue stock_ „1011 160 iid
10u 225 230
is National
72
0
Prairie Oil & Gas
100 7
10
6 .132
1st Is 1930
2
6
33
M-N 104 100
Second Avenue stock. _100
New York ur6Doectiry com _100 19
Solar Refining
Other Cities.
10u
Consist Is 1918 ctfs..1-/-A /s 40
106 35 -.IS
.
'
82
70 s eIPLetfgeerrAed
9212 Southern Pipe Line Co „101.1 3
5 3
81
50
5u sx02
•Sixth Avenue stock _ ..101) 115 120 - Am Gas es Elec cons
-.100 203 210 •
Security.Y
South Penn 011
50
Preferred
50 *49
IOU
88
92
Sou Bouiev *31945.....J-J
20 *5
8
N Y Transportailon
:Sou West Pa Pipe Lines.100 185 190
100 423 127
95 Am Lt & Trac corn.
A-0 90
So Per 111 55 1919.,
Nties-Bem-Pond coin_„10
(1ru
0
u 85
111, 87 '
Preferred
10tt 110 112
80
Standard Olt of Calif.,.100 148 153
Tarry WP &M 514'23__M&S 75
siipissIng Mines-See Bost r> tit Ex list. •
72
09
Stand On of Indiana...JO() 283 288
28 & 20th Sts Is '06 ctIsA-0 (21) 23 Amer Power & Lt coin _10U
*158
Ohio Copper Co
Preferred _
100 80/2 8712 Standard Oil of Siansas_100 510 525
1"se
Twenty-third St stock _100 250 275
2
5U
*38
12 Stand Oil of Kentucky..100 490 510 e Ontario Silver
Union fly 1st 58 1942__F-A 104 107 Bay State Gas
utls Elevator corn
Wu
72
74 •
Stand Oil of Nebraska..100 200 310
(N Y) (las Wk.
97
91
Westchester 1st 59 '43.J-J
e
n
rg
r
e
s
rejt hrl
10, 103 104
Stand oil of NJ
93
151 g Is 1038
A-U
97
Yonkers St RR Is 1040_ A-0 90
-100
Brewing.
3
1:10
0
1u
.5,,
t, *1
0
6°
8
5 1
310,4
71 4
Buffalo City Gas stock _10U
100 14
°
5°
10
1 .
Brooklyn
5
612 Stand Oil of N J_.
Standard Off subsidiariesAtlan Ave RR con Is'31A-0 102 1031; Cities Service Co cons.._100 120 125
err
urg
edh Steel prel 100 10134 103
bIt 00
9112 Standard 01101 N Y____100 "5 "5 ePiPtPlItrtesfb
Preferred
B 13 es W E bs 1933___A-0 97 101
Pope Mfg Co corn
98
Standard Oil of Ohio. 100 295 305
100 371s 39
-10 162 166 Con Gas of N J Is
Brooklyn City UR
PrI
'
atrerre
tefec ci
u
5
80
2 280
luu
74
Swan & Finch.
76
100 24
Bklyn figts 1st Is 1911_ A-0 0i) 102 Consumers' L H ,814 Powi-i) 102
Union Tank LineCo.._ 100
Whitney ref _10u 105 106
Is 1938
Bkiyn Queens Co & SubProducers 011.
.10u 120
Vacuum 011
100 190 195
Consumers Power (Minn )1st g Is'41-See N 1 Stk Ex lit t.
Realty
115
35
•
Assoc (Bitlyn)_10) 110
90
92
Washington Oil
10 *25
1st&ref bs 1929op'14-M-N
1st con 5s'41-See N Y St it Ex list.
arekdPowd coal __los 210 220
9512 9612
Waters-Pierce 011
100 1500 1800 etopyraoeflak
100 101 105 Denver CI & El Is 1949_111-N
Coney 1st & Ilklyn
325
lut, 109 111
80
81 Elizabeth Gas Lt
1st cons g 4s 1948....J-J
118
Safety Car Heat Jr Lt....10u
120
1043 135 140
Tobacco Stocks
82 Essex de Hudson (las
77
J-J
Con g 45 1955
searsatoebuck&Co-SeeN s Stk E x Bat
89
(See also Stock IfxchangeLiSt)
Brit 0 & N bs 1939_ __J-J 99 101 Gas & El Bergen Co.._10u 16
80
ePreferred-See Wile 1Stk Ex lie I. •
Amer Mschine & Fdy
70
i00
Get West Pow Is 1040....1-2 8512 00
Nassau Elea pref
100 288 290
eAmer SnuO, pref
100 102 105 Singer Mfg Co.
A-U 10212 10311 Hudson County Gas- -109 136 139
1st 551 1044
2
eArner Tobacco, pref _
100 107 South Iron Sc 8 coin __IOU
1st 53 1949-See N Y sitk 1241 Ifs t.
N Winsburg & Flatbush3
100
Preferred
44
British-AmerIcan Tobac.£1 *2412 2434
92
93 Indiana Lighting Co.. 100 40
1st 44s Juiy 1941__F&A
Standard Coupler cum _10, 30
72
70
Conley Fon
F-A
11111 300 310
Steinway 191 65 1922___J-J 100 104
1s 1958 opt
.2
10u 108 1_1._
Preferred
45
e Heinle ((leo W) com 100 184 1861
Indianapolis Gas
5U 38
Other G'ittec
88
WO 84
Stern Bros pref
00
A-0 88
a Preferred
100 111 115
1st g Is 1052
Buffalo Street flysuizberger Sc Sons Co p1 10() 90 101
Johnson Tin Foil esMetiU BR) 170 190
1st consol 5a 1931, F-A 10312 10512 Jackson Gas Is g 1037 __A-0 99 102
Vexes Sc Pacific Coal. _100 05
A-0 104 106 eLaciede Gas preferred _Ns
MacAndrews Sc Forbes _100 200 210
Den 6.1 1917
9712
Porto-Mean-Amer Tob_1(10 288 '295 s 'foxes Pacific Land Tr_lOs 95
Conn fly & Ltg com_1011 7812 791s Madison Gas 65 1025__A-0 104 1(33
123
title Ins Co of St Y
1)8
82 sfarragan (Prov) El Co _50 *.eJ(1
Reynolds (It J) Tobacco.100 7250 200
100 80
e Preferred
.sitopah Min(Nev)-SeeP1111Ta1 -1irt -17.
United Cigar Mfrs corn 100 52
56
100 3612 39 Newark Gas 11s Apr'44_Q-J 125 Federal Light de 'Iran
55
4
00 50
7
0renton Potteries corn 100
Hai 10314 110
1011 97
100 8414 8514 Newark Coasol Gas_
e Preferred
Preferred
Preferred new
UnitedCigarStoresofAm corn 10512 100
_
89 No Mid L H dr P 5s 1938 A-0 100
a Havana Elee Sty L &P 100 87
100
20
30
Directory
0134
Preferred
1200
Yrow
0312
Pacific
Gas
1191:
&
E
corn_
_IOU
98
Preferred
_100
9012
a
(4,,,,
u
39
Union Typewriter com..1.00
Preferred
100 9214 9212 a Weyman Bruton Co.. 100 215 275
J-J 10512 10514
k Loutsv St 5s 1030
110 112
1st preferred
a Preferred
100 91
100 113 1161:
95
e New On Rys & Lt coin 100 35'2 38 Pat & Pas Gas & Elec
105
preferred
14
07
1.
21)
Con g Is 1940-See N 151 I Ex list.
Young (J 8) Co
100 170 180
a Preferred
100 7634 771.
United Copper.
Industrial and Miscellaneous
94
St Joseph Gas Is 1937
90
J-J
N Y Wench & Bost thy10
11°
0
g
2
ilo,
Preferred
929014
Adams Exp g se 1e47__s_D 1 8212 831. ; uroted
1st g 445s 1046-See N Y itk L rust Standard(las &Elec(De1).5U *2312 24
Goods
100
Preferred
Alliance Realty
es, sa5034 51
100 118 120
Pub Serv Corp of N J -Set Stk JO x list
100 10°5514
6 Preferred
62
Cony s f g Os'26--See al 1 Ilk LI x list Amer Sank Note corn .10 *49
Tr ctfs 2% to 6% perpet 10s12 11012
U 8 Casualty
Preferred
54
95
5(1 .52
80 United Electric of N J_.100 90
North Jersey St Ity_1()0 79
Ws 10
U 8 Envelope corn
°5
1st g 45 1949
1 2
17s
10
°05
57
8212 8312 American Book
100 163
3
81
1st 43 1948
M-N
J-D
79
Preferred
111u 118
American Brass
140
100
30
31
Cons Tract of N
7534 7614 Western Power corns. 10u
• U 1•3 Express
10s 85
Preferred
American Chicle corn. 100 213 222
90
101., 5912 60
10312 1041:
191 Is 1933_ _._
100 85
Western States Gas&EiecPreferred
90
100 1031: 105
107 108
New'k Pass thy 156
ing
PrF
ererirs hed
°°
10, 100 105
eAmerican Express.
lst & ref 53 1941 op _J-D
5 200
9212 95
100 14
90
Rapid Tran St Ity____100 235
1st g Is 1919
J-J 100 105
Telegraph and 'telephone
Am Graphophone coin _100
A.0 103 EUS 1st bs 1921
Con g Is 1929
05 100
Preferred
.1,1
73
100 75
a Amer Teleg & Cable__101) 69
J C Hob & Paterson.J.00 13812 LAO: 11 8 Indus Aicoh-Sea N Y s ik Ex
4s ig 1949
M.
7834 793, s Central & South Amer_ 100 113 120 American Hardware..
a Preferred
100 103 105
Amer Malting es soss__s_D 101 102
So J Gas El & Tress,,_100 120 133 Comm'i Un Tel(N Y)___2., 108 110
U 13 Steel CorporatIon- '
70
Amer Press
75
Go g Is 1953
_ _100 60
M-S 90 100 Empire & Bay State Tel _100 65
Cols f Apr bs 1951 op 1911 114 1108
100
40
Am Steel FdyAssoc'n50
No Hud Co By 6s 1914 J-J 101 102 Franklin
tss 1935__A-0 99 10t)1s
6811 71
Col s ' Apr 5e 1951 not opt 111 11435
100 120 124
Deb 48 1923
F-A
Con AI 5s 1928
J-J 104 105 s Gold & Stock Teleg
90
95
American Surety
Ext Is 1924......M-N 100 _ _ _ • Northwestern Teleg.. __ES) 117 122
60 320 __ _ _ U S Tit Gu & Indom __ISM
21 70
American Thread pref.,.,.S *1
5
Westchester Sc Bronx TIts,
75
Pat fly con es 1931_J-1) 114
_ Pacific & Atlantic
166
Amer Typefounders com.100 47
49
2d 63 1914 opt____A-0 100
Sc Mtge Guar
•Pao Telep & Teleg pref.100 100 103
50 *x
1°
0
16
10
.43 146
Preferred
26 02
97
2012 28 Southern &Atlantic
Republic Sty & Light _._100
Westingh'se Air Brake .
,100 103 105
Preferred
100 81
Deb g 6s 1939
83 South Bell Telep & Teleg111-N 100 102 'Woolworth (I? WI-See NY Stk E x !1St
3171 4
WartbinetonMIDCo of 101 105 10812
90
J-D 97
1st g.bs 1941 op 1916_J-J 100 10014 Amer Writing Paper_ _100
Trent P & Ii Is 1943
Inactive and Unlisted Securities
• Per share a And accrued dividend. I Basis. k Listed on stoc: Exenange but usually inactive. Fiat price. n Nominal. s Sale price. New stock. x Ex-d1V.
v Ex-rights. Z Includes all new stock dividends and subscriptions. e Listed on stock Exchange but infrequently dealt in; record of sales, if any, will be found on
preceding Pan
THE CHRONICLE
SEPT. 21 1912.]
Atxuestment
741
and itaitvcraci fate:holm ce.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAW railroad from which revilar 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 totala of those roads whose blast year does not begin with July, but covers some other
period. The returns of the electric railupsys are brou7ht togettier separately on a subsequent pl7e.
I,airst Gross Earnings.
14 eek or
Month
ROADS.
Current
Year
Previous
Year.
July 1 to Litest Date.
Curren.
Ye :r
Pres.tous
Yea,
Latest Gross Earnings.
IlOA1)3.
I. eek or
Month.
Current
Year.
Pre•ious
Ye.tr,
Jul/ 1 to Latest Date,
'
Current
Year.
Previous •
Year.
Ala N 0 &'lox Ps •-551,116 NYNH& Hart?... July
318,390 280,743
N 0 & Nor East_ August
638,006
5,753,765 5,197,708 7,753,765 5,197,708
254,572 NY Ont & West___ July
Ala 63 Vicksburg_ A us.ast
151,265 131,065
301,310
977,781 932,512
977,781
932,513
223,236 N Y Snag & West__ July
Vieks Shr & Pac_ August
144,087 116,746
278,526
291,30 317,34.1
291,630
317,346
448,848 Norfolk Southern
Ann Arbor
1st wk Sep
July
47,914
44,757
442,896
295,833 255,052
295,833
255,053
Atoll Topeka & S Fe July
8,959,969 8,021,645 8,959,969 8,021,645 Norfolk & Western July
3,570,849 3,053,712 3,579,849 3,053,712
2.).„
Atlanta Birai 63 Al July
Northern Pacific
July
24,
,
* a1,1L,
2,0,30
4.750,350 5,232,852 5,750,356 5,232,852
2,258,325
Pacific
Coast
Co
Atlantic Coast Line July
July
2,467,757 2,258,325 2,467,757
702,733 724,461
702,758
724,461
134,553 Pennsylvania RR
July
Chariest do W Car July
126,116
128,116 134,553
14665 735 12721057 14,656,735 12,721,057
Salt Oh r & Atian July
Loulsv lien& Sti. July
102,195
87,433
87,433 102,195
40,211
40,211
37,914
37,914
Cumberland
7,321,157
Vail July
g Baltimore & Ohio_ July
8,052,885 7,321,157 8,052,885
261,319 235,535
:35,535
261,319
July
Long Island
123,048
149,008
B & 0 t.. h Ter RR July
149,008 123,048
1,317,364 1,243,364 1,317,864 1,243,864
M.aryl'd Del & Va July
226,991
234,504 226,991
234,504
Bangor &Aroostook July
18,360
18,284
18,360
18,284
N Y Phila & Nor? July
904,727
1,028,428 904,727 1,028,428
Bessemer & Lake E July
354,911 306,304
354,911
303,394
Northern Central July
4,207,883 3,817,420 4,207,883 3,817,240
Boston & Maine
July
1,062,911 948,919 1,052,911
948,919
3,907
47,178
3,713
Phila Balt& Wash July
50,985
Bridgeton & Saco R May
1,819,921 1,313,551 1,819,921 1,613,558
W Jersey & Seash July
844,014 554,122
Buff loch & Plasb 2d wk Sep 232,692 210,098 2,412,701 2,103,459
854,122
844,014
178,267 195,377
178,267
July
19 ,,377 Pennsylvania Co
July
Buffalo do Susq
5,994,621 4,713,017 5,994,821 4,713,017
Grand Rap & Ind July
Canadian Northern_ 2d wit Sep 378,300 360,300 4,330,200 3,593,300
466,898 425,534
468,498
426,534
2.d wk Sep 2,667,000 2,325,000 29,254,399 24,289,818
Pitts C C & St L. July
Canadian Paolfic
3,606,011 3,200,997 3,603,011 3,209,997
269,80o 2,766,92 . 2,564,621
July
Vendetta
881,363 830,427
Central of Georda_ ,9 wit bp 2)2.9,
881,363
836,427
303,506 241,094
303,506
Central New Engl'd July
Tots1 linea241,094
2,813,906 2,388,754 2,813,906 2,388,764
Cent of New Jersey_ July
East Pitts & E
'1919183 19370424 21,919,183 19,370,424
July
360,260 151,988
Central Vermont
July
360,260
351,988
11051047 9,278,224 11,051,047 9,278,224
July
West Pitts & E
Chez de Ohio Lines_ 2d wk Sep 691,801 691,245 7,298,587 7,059,570
32970231 28648648 32,970,231 28,648,648
All East& West July
Chicago & Alton
1st wk Sep 299,908 318,652 2,933,868 3,036,008 Pere marquette_ _ _ _ Aut.ast
2,877,278
7,295,922 7,043,050 7,295,922 7,042,050 Reading OompAnyChic Burl & Quincy July
p Chin Great 'West_ 1st wit Sep 271,472 271,731 2,535,130 2,426,180
Phila & Reading_ July
3,984,168 3,476,797 3,984,168 3,476,797
Chic Ind & Loulsv_ 2d wk Sep 143,173 142,618 1,460,946 1,445,958
Coal do Iron Co.lJuly
3,003,597 1,670,213 3,003,597 1,679,213
Chia Milw & St Paul July
5,760,618 5,044,538 5,760,618 5,044,538
July
Total both cos
6,987,765 5.156,010 6,987,765 5,156,010
Chic Mil 63 Pug Sd July
1,632,929 1,343,652 1,632,929 1,343,652 Rich Fred & Potom July
237,616 200,903
237,616
200,903
v0iiie do North West July
6,749,917 0,206,017 6,749,917 6,206,017 Rio Grande Juno_
June
82,416
82,130
990,398
984,695
roChic St Paul M & 0 July
1,292,997 1,163,587 1,292,997 1,163,587 Rio Grande South__ 1st wk Sep
10,836
10,816
116,392
103,436
Chicago T H & S B. July
135,078 142,763
142,763 Rock Island Lines_ July
135,078
5,717,883 5,070,758 5,717,885 5,070,758
Cin Ham & Dayton July
July
876,363 Rutland
876,060 876,363
876,060
328,315 313,005
328,315
313,005
Colorado Mk. an& _ July
155,399 St Jos & Grand Isl.. July
133,091 155,399
133,091
144,262 148,235
144,262
148,235
b Colorado & South. 2d wk Sep 291,249 297,140 2,786,189 3,025,805 St Louis & San Fran July
3,470,981 3,274,883 3,470,981 3,274,363
Cornwall
July
Chic & East III_ July
10,909
1,501,928 1,226,697 1,301,928 1,226,697
19,737
16,909
10,737
Cornwall & Lebanon July
34,901
lines_
38,248
July
Total
all
34,901
4,772,909
38,248
4,501,560 4,772,909 4,501,560
Cuba RR
202,666 St L Rocky Mt & P July
148,723 115,222
334,393
July
334,393 262,666
148,725
115,222
Delaware & Hudson July
2,052,533 1,767,440 2,052,533 01,767,440 St Louis Southwest_ 2d wk Sep 247,000 225,000 2,643,397 2,199,228
Delaw Lack 5: West July
3,062,894
3,334,456
839,775
San Pod LA &SL July
728,770
3,334,456 3,062,894
839,775
728,770
Deny 5: Rio Grande 2d wk Sep 565,200 544,600 5,353,838 5,204,516 Seaboard Air Line
1st wk Sep 443,732 450,431 3,934,481 3,764,180
422,085 Southern Pacific Co. July
Western Pacific
530,266
11762 391 10871487 11,762,391 10,871,887
530,266 422,085
July
114,102 Southern Railway_ 2d wk Sep 1,237,691 1,226,485 13,457,990 12,498,219
116,267
Denver N W & Pao_ July
116,267 114,102
.,„
128,945
s., 2,2,480
125,371
Detroit Tol & Iront July
Moolie de
ld wk Se
125,371 128,945
232,124
Detroit & Mackinac 1st Vik Sep
22,996
239,706
Cln N 0 & Tex P.. 1st wk Sep 188,748 185,089 1,798,313 1,742,539
23,320
81,273
907,456
Dui dc Iron liange_ _ July
1,069,073 907,450 1,069,073
83,323
872,702
Ala Great South_ 1st wk Sep
804,761
48,400
642,416
64,355
699,054
Dul Sou Shore & At' 1st wk Sep
62,118
44,901
424,965
Georgia Sou& Fla 1st wit Sep
427,171
720,051 Spok Port do Seattle July
1,125,002 720,051 1,125,002
Elgin Joliet & East_ July
454,846 422,539
454,846
422,539
666,989
666,980 527,069
El Paso do Sou West July
2,383
027,069 Tenn Ala do Georgia 1st wk Sep
25,064
2,138
22,700
5,381,558 1,899,508 5,381,558 4,899,598 Tennessee Central
Erie
125,703
July
137,013
125,703 137,013
July
2,540
Fairchild & N
1,805
31,175
Juno
23,421 Texas de Pacific
2d wk Sep 326,582 209,963 3,225,293 3,001.369
260,156 228,686
260,156
Florida East Coast_ July
228,686 Tidewater & West_ July
7,58 .
9,967
7,583
9,057
93,880
98,788
98,788
Fonda Johns & Gloy July
93,880 Toted() Peer & West 2d wk Se,.
23,378
27,40.
276,113
2611,800
222,973 209,818 3,378,734 3,210,291 Toledo St L & West 2d wk Sep
Georgia Railroad_ Juno
89,755
91,659
815,430
889,733
Granu frank Syst_ _ !u wk Sep 1,110.514 1,026,44. 11,801,2.,4 10,800,148 Union Pacific Syst_ July
i',818,585 7,528,350 7,818,585 7,328,350
Grand Trk West_ 3d wk Aug 129,498 126,247
974,067
939,718 Virginia & So West_ July
146,727 128,203
145,727
128,203
Pet Gr Hay & Mi! 3d wit Aug
48,197
328,209
45,156
302,170 Virginian
July
376,550 348,111
376,550
343,111
Canada Atlantic_ 3d wk Aug
46,626
338,926
308,064
Wabash
44,558
August __ _ 2,930,490
00,640 5,480,501 5,148,082
Great Northern Syst August
6,885,676 6,000,951 13,354,597 11,746,860 Western Maryland_ July
567,379 587,919
567,379
587,919
156,502 Wheel de Lake Erie July
163,481
Gulf & Ship Island_ July
163,481 156,502
714,370 615,184
714,370
015,184.
Hocking Valley
604,458 Wrightsv& Tennille July
690,030
690,036 604,458
July
20,620
20,144
20,144
20,620
Illinois Central
738,990 810,491 1,465,157 1,541,602
August __ _ 5,403,960 5,551,556 10,560,965 10,679,768 Yazoo & Miss Vail. August
Interuat dc Grt Nor_ 2d wit Sep 247,000 214,000 2,191,268 1,752,580
a Interoceanio Mex_ 1st wit Sep 131,341 154,536 1,627,286 1,651,434
Curren,
Previous
276,641
Kanawha & Mich_ July
296,581 276,641
290,581
Various Fiscal Years,
Period.
Year.
Year
751,089
833,797 751,089
Kansas City South.. July
833,797
Lehigh Valley
3,533,707 3,091,657 3,533,707 3,091,657
July
47,414
Lexington & East July
54,885
47,414
54,885
Delaware & Hudson
Jan 1 to July 31 12,161,544 11,991,449
Louisiana & Arkan_ July
142,597 100,738
100,738 N Y Central de Hudson River_e_ Jan 1 to July 31 59,847,365 57,622,949
142,597
s Louisville & Nash. 1st wit Sep 1,102,225 1,034,520 10,427,940 9,914,351
Lake Shore & Michigan South Jan 1 to July 31 29,490,088 26,866,085
Macon do ilirm'hant August
23,571
11,322
26,061
12,681
Lake Erie & Western_n
Jan 1 to July 31 3,113,315 2,978,099
Maine Central__ __. July
061,120 885,451
961,129
885,451
Chicago Indiana & Southern_ Jan 1 to July 31 2,331,737 2,147,706
Maryland & Penna. July
37,847
37,847
Michigan Central
34,087
34,087
Jan 1 to July 31 17,936,628 16,449,626
a Mexican Railway.. 4th wk Aug 217,100 230,300 1,434,800 1,310,100
Cleve CM Chicago & St Louis. Jan 1 to July 31 17,296,835 17,020,071
1st wk Sep
Mineral Range
13,912
157,110
14,066
136,704
Jan 1 to July 31 1,769,68.1 1,820,069
Peoria de Eastern
wk Sep 216,691 171,99t 1,072,810 1,638,523
Minn & St Louis__
_
Cincinnati Northern _
Jan 1 to July 31
724,207
642,217
Iowa Central--Pittsburgh & Lake Erie_ - Jan 1 to July 31 9,737,701 8,327,242
Minn St P eGss M1 2d wit Sep 718,672 556,326 6,132,022 5,383,853
New York Chicago & St Louis Jan 1 to July 31 6,588,613 6,293,567
Chicago Division!
Toledo de Ohio,
Ohlo.Centrai_
Jan 1 to July 31 2,902,913 2,550,861
83,287
83,287
72,846
Mississippi Central_ July
72,846
Total all lines
Jan 1 to July 31 151739131 142718 492
is Mo Han & Tex.__ 2d wk Sep 631,089 569,981 6,056,284 5,652,587 Pennsylvania Railroad
Jan 1 to July 31 15,396,849 88,046,738
2d wk Sep 1,247,000 1,123,000 12,985,487 11,351,356
Missouri Paelfic
Baltimore Chesap de Atlantic_ Jan 1 to July 31
152,884
143,171
1,044,196 070,506 1,044,196
Nashv Chat & St L. July
970,506
Cumberland Valley
Jan 1 to July 31 1,795,623 1,626,819
a Nat Rys of Mex_t_ !d wk Nei, 1,203,033 1,353,902 12,779,446 13,567,02s
Long Island
Jan 1 to July 31 6,235,931 5,26,759
7,141
9,058
99,727
Nevada-Cal-Oregon. 1st wk Sep
67,842
Maryland Delaware& Virginia Jan
to July 31
67,248
67,258
147,686 131,705
147,686
N 0 Great Northern July
131,705
N Y Philadelphia & Norfolk_ Jan 1 to July 31 2,051,056 1,904,839
175,847 137,590 2,002,729 1,826,136
N 0 Mobile & Chic. June
Northern Central
Jan 1 to July 31 7,073,513 7,156,721
0,284,971
8,814,285
9,284,071 8,814,285
sN VC & liud lily July
Philadelphia Bait & Wash... Jan
to July 31 11,322,517 10,732,896
4,444,169 4,121,042 4,444,169 4,121,042
Lake Shore & 81
uly
West Jersey de Seashore
Jan
to July 31 3,534,851 3,441,508
459,755 453,932
459,755
453,932 Peansylvania Company
n Lake Erie de W. July
Jan 1 to July 31 13,494,543 28,976,526
305,047 274,860
305,947
Chic Ind & South July
Grand Rapids & Indiana
274,860
Jan 1 to July 31 2,964,616 2,771,691
2,699,23(1 2,390,213 2,699,230 2,300,213
Michigan Central July
Pitts CincinChicago & S. L
Jan 1 to July 31 23,666,392 21,262,611
Vandalia
2,602,070 2,594,186 2,602,070 2,594,186
Jan 1 to July 31 5,701,072 5,605,423
Cleve 0 C de St L_ July
263,236
263,236 255,792
Peoria & Eastern July
Total lines-East Pitts & Erle Jan 1 to July 31 136585081 126286728
255,792
107,452
107,452 101,534
Cincinnati North_ July
West Pitts& Erie Jan 1 to July 31 55,709,415 59,241,669
101,534
Pitts & Lake Erie July
1,667,265 1,380,945 1,667,285 1,389,945
All lines E & W_ Jan 1 to July 31 203214496 185528397
861,341
N Y Chic de St L. July
901,761
Dec 1
861,341 901,761
Rio Grande Junction
June 30
506,031
506,564
Vol & Ohio Cent_ July
483,858
Jan 1 to July 31 1,945,601 1,886,834
483,858 442,588
442,588 Rutland
Tot all lines above July
23179300 21740 138 23,179,300 21,740,138
AGGREGATES OF GROSS EARAINGS-Weekly an1 ,dontaty.
Weekly Summaries.
Cuent Year Pree's Ysar Inc. or Dec,
Monthly Summaries.
Cuent Year Prey's Year Inc. or Dec.
3
3
Mileage. Cur,Yr. Prey. Yr.
1st week July (40 roads)____ 13,143,297 12,818,451
+324,846 2.50
November _ _234,209 231,563 241,343,7631243.111,38. --1,767,625 0.73
0.57
24 week July (40 roads)____ 13,934,880 13,271,242
+663,638 5.00
December __238,561 235,685 233,614,912 232,275.177
3d week July (41 roads)-- -- 14,320,563 13,238,634 +1,081,029 8.17
January ___237,888 234,402 210,704,771 213,145,078
4th week July (38 roads)--__ 20,868,686 18,084,755 +2,783,931 15.39
February __237,082 233,1911215,031,094 197,278,939 +20.752,155 10.53
1st week Aug (39 roads).... 14,420,856 13,137,388 +1,283,468 9.77
238,218 234,692 237,564,3321224,608,654 +12,955,678 5.77
March
3dweek Aug (37 roads) ____ 14,397,814 13,223,581 +1,174,233 8.88
236,722 233,057,220,578,455 216,140,214 +4.538,251 2.10
April
235,410 231,597232,229,384 228,184,666 +6,044,698 2.07
3d week Aug (37 roads)____ 14,636,261 13,552,577 +1,083,689 7.99
May
4th week Aug (39 roads)____ 22,062,410 20,517,970 + 1,544,446 7.52
233,385 230,8941243,226,498 223,647,383 +14,579,115 6.38
June
15.035,249 14,131,559
1st week Sept (40 roads)
+303,690 6.3)
230,712 227,1941245,595,532 222,587,872 +23,007,660 10.34
July
Id week Sept (26 roads) _- - - 12,924,042 13,101,642
+822,400 6.80
88,1341 77,538,413 71,361,692 +6,276,721.
August .... 89,691
S Does not include earnings of Colorado Springs do Cripple Creek District Ra lway, from November 1 1911.
a Mexican currency.
Includes the Boston al Albany, the New York de Ottawa, the St. Lawrence & Adirondack and the Ottawa & New York Railway, the latter of
Ishteh, being a Canadian road, does not make returns to the Inter-State Commerce Commission,
I Includes Evansville & Terre Haute and Evans,
yule & Indiana
o Includes the Cleveland Lorain & Wheeling Ry. in both years. n Includes the Northern Ohio RR. p Includes earnings (4
Mason City & Ft. Dodge and Wisconsin Minnesota & Pacific.
s Includes Louisville & Atlantic and the Frankfort & Cincinnati.
I Inoludes the
Mexican International. u Includes the Texas- Central. v Includes not only operating revenues, but also all other receipts.
J=1113:IN
rm.
[VoL. Lxxxxv.
THE CHRONICLE
742
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the second week
of September. The table covers 26 roads and shows 6.80%
increase in the aggregate over the same week last year.
I.,,lest G -o
Name of
Road.
Wee, Or
Month.
Earnings.
I Jan. 1 to Latest date.
Carrent Previous Current
Year.
Year.
Year.
$
240,597
314,035
614,202
592,614
212,065
650,791
305,248
4,033,808
719,888
986,016
7,190,080
306,716
656,099
1,346,834
432,217
864,189
1,103,634
703,068
1,801,039
Previous
Year.
S
$
$
36,267 26,980
200,229
Carolina Pow & Lt Co July
57,866
57,747
306,477
Cent Park N & E Riv June
89,044 77,895
577,237
1912.
Increase. Decrease. Central Penn Trac_ _ _ August
Second week of September.
1011.
•
94,055 84,175
Chattanooga By & Lt July
530,130
42,882 41,297
205,015
Clev Painesv & East. July
110,.448 108,644
628,812
ClevSouthw&Colum July
22,594
Buffalo Rochester & Pittsburgh' 232,692
210,098
45,549 39,624
275,204
18,000
Columbus (Ga) El Co July
360,300
378,300
Canadian Northern_
/r 44,),s4 t
1
ust
3,507,049
COMMOnw P. !Iv lc 4.
Canadian Pacific
2,667,000 2,325,000 342,000
709,978
169,552 154,490
23,100
Coney Isi'd & Bklyn June
269,800
Central of Georgia
292,900
889,792
144,534 125,037
556
691,245
Dallas Electric Corp.. July
Chesapeake & Ohio _
691,801
6,363,222
555
142,618
Detroit United Ry___ 3d wk Aug 232,716 216,459
143,173
Chicago Ind Fc Louisville
298,824
51,417 50,923
5,900 D D E B & Batt(Rec) June
297,149
Colorado & Southern _
291,249
643,532
20,66
106,668 108,455
544,600
565,200
Duluth-Superior Trac July
Denver & Rio Grande_
1,287,407
197,978 195,688
Grand Trunk of Canada
East St Louis & Sub July
_1
385,889
84,065
59,620 51,834
July
1,110,514 1,026,449
El Paso Electric
Grand Trunk Western___
752,788
159,199 142,891
Detroit Gr Haven & Milw__I
42dSt M&SNAv(Ree) June
848,406
180.558 136,113
Galv-Hous Elec Co July
Canada Atlantic
660,432
33,000
214,000
111,191 107,072
247,000
Grand Rapids Ry Co_ July
Internat Fe Great Northern__ __
1,688,482
143,577
159,909
Interoceanic of Mexico__
Havana Electric Ry_ Wk Sep 15 51,213 46,410
44,692
171,999
216,691
Minneapolis.80 St Louis.......
Honolulu Rapid Tran
282,903
45,910 42,684
319,414
July
Iowa Central _
& Land Co
556,326 162,346
718,672
175,668
30,784 31,220
175,397
Minneapolis St Paul & S M__
Houghton Co Trac Co July
61,108
539,981
631,089
283,357 237,920 1,842,112 1,507,694
Missouri Kansas de Texas- ---Hudson & Manhattan June
1,247,000 1,123,000 124,000
576,668 561,607 4,079,308 3,811,596
Missouri Pacific _
Illinois Traction Co July
215,719
218,771
3,052 Interboro Rap Tran_ July
2267,409 2087,729 18,682,932 17,568,392
Mobile & Ohio
1,203,033 1,353,902
333,123
350,268
150,809 Jacksonville Trac Co_ July
49,248 43,920
National Railways of Mexico_
247,000
225,000
693,885
22,000
724,890
137,639 135,300
St Louis Southwestern
Lake Shore Elec Ry_ July
11,206
1,237,691 1,226,485
92,147
19,876
06,233
22,718
Southern Railway
Long Island Electric. June
326,582
299,983
26,619
452,423 418,155 3,143,111 2,819,469
Texas & Pacific _
Milw El By & Lt Co.. July
616,974
27,401
23,378
684,651
4,023
127,642
132,026
Western
_
July
Peoria
&
Co_
Toledo
Milw Lt, Ht & Tr
137,810
89,758
213,516
91,669
1,911 N Y City Interboro June
39,507 26,011
Toledo St Louis Fe Western__
177,179
180,238
37,178 35,541
NY & Long Isl Trac_ June
587,597
12,924,042
631,664
1,000,464
__
12,101,642
178,064
132,479 118,056
Total (26 roads)
N Y & Queens Co _ _ June
822,400
1150,986 1134,784 7,946,568 7,821,671
Net Increase (6.80%)
New York Railways_
109,467
121,574
17,445
20,980
August
Northam Easton & W July297,235 278,431 1,674.571 1,501,107
North Ohio Trac Fe Lt July
906,387
941,634
146.289
131,383
North
Texas
Elec
Co_
July
of
covers
week
September
our
final
statement
For the first
36,769
45,936
13,424
17,326
Ocean Electric (L D.. June
40 roads and shows 6.39% increase in the aggregate over Paducah
148,959
22,874 22,477 . 181,011
Tr & Lt Co.. July
164,170
24,389
25,320
182,552
Electric
Co
July
Pensacola
year.
last
week
the same
1913,094 1794,989 15,188,217 14,448,738
Philo, Rap Trans Co__ August _
580,557 543,704 3,833,174 3,658,510
Port(Ore)Ry,L&PCo. July
713,526
July
4,798,094
P
L
&
Decrease.
St
Trac,
September.
1912.
Increase.
Puget
1911.
First week of
38,720 35,651
187,368
159,748
Richmond Lt & RR_ June
$
$
$
$
Rio de Janeiro Tram
1244,274 1145,038 8,230,750 7,253,711
Light & Power Co_ July
Previously reported (25 roads). 12,172,233 11,327,415 946,177 101,359
83,323
84,273
950 St Joseph(W)Ry.Lt
-- _-Alabama Great Southern
622,697
665,491
08,335 92,375
44,757
3,157
47,914
Ann Arbor
Heat & Power Co_ July
299,998
18,654 Sao Paulo Tram,L&P July
363,997 283,441 2,576,345 1,967,894
Chicago & Alton
318,652
394,304
424,429
271,427
Chicago Great Western
271,731
304 Savannah Electric Co July
61,406 64,038
424,888
482,217
90,658 86,283
Cin New Orleans & Tex Pao_
188,748
185,089
3,659
Second Avenue (Rec) June
57,265
65,206
14,837
11,969
Duluth South Shore & Atlantic..
64,355
62,118
2,237
_._ .... Southern Boulevard.. June
130,531
16,720
147,006
3,430 Sou Wisconsin By Co August
19,368
Georgla Southern & Florida_
44,961
48,400
__ _ _
123,340
117,428
67,705
31,424
28,383
1,102,225 1,034,520
Louisville & Nashville
Staten IsI'd Midland.. June
433,282
392,040
154 Tampa Electric Co.. July
63,181
57,253
14,066
Mineral flange
13,912
11,569
207,374
195,805
333,854 321,820 1,883,583 1,778,069
- Third Avenue (flee).. June
Mobile & Ohio _
9,058
7,141
1,917
226,792 200,965 1,430,395 1,311,414
Nevada-Cal-Oregon_
Tr -City fly & Lt Co. June
20
10,838
10,816
__
Rio Grande Southern_
Twin City Rap Tran_ 1st wk Sep 208,093 175,203 5,558,713 5,330,512
443,732
450,436
__ _ __
6,704 Underground Elec By
Seaboard Air Line
2,383
_ __ __
2,138
245
Tenn Ala & Georgia..
of London76,172
70,800
5,372
Toledo St Louis & Western__ _
Three tube lines__ Wk Sep 14 £12,340 £12,140 £498,055 £499,315
Metropolitan Dst_ Wk Sep 14 £11,230 £11,065 £456,914 £436,016
15,035,249 14,131,559 1,038,656 134,966
Total (40 roads) _
United Tramways.. Wk Sep 14 £8,222 £6,925 £235,634 £248,526
____ 903,690
London Gen'l Bus.. Wk Sep 14 £57,644 £38,561 £1,835,946 £1,381,423
Net increase (6.39%).-- ----_____- -244,454 282,126 1,207,987 1,171,385
June
Union (Rec)
272,714 237,408 1,751,319 1,518,458
UnionRy,G&ECo(Ill) June
1044,441
1016,759 6,988,825 6,841,998
Rys
of
St
L__
July
United
4,7o5,125 4,465,647
.0 t 0,4 ti
Net Earnings Monthly to Latest Dates.-The table fol- Unice 11111. of S ,n , 1 '
274,870
272,722
57,875 57,176
Jung
(Rec)
Westchester
El
lowing shows the gross and net earnings of STEAM railroads Yonkers RR (Rec).... June
356,156
327,044
69,044 65,951
30.190
19,840
108,184
110,170
and industrial companies reported this week:
Younest & Ohio Riv Tune
-Gross Earnings- -Net Earnings
c These figures are for consolidated company.
Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
Roads.
Electric Railway Net Earnings.-The following table gives
$
$
$
*
Central of New Jersey_ b_July 2,813,906 2,388,754 1,278,076 1,005,043 the returns of ELECTRIC railway gross and net earnings
854,500
771,143 reported this week:
Delaware & Hudson_b_July 2,052,533 1,760,440
12,161,544 11,991,449 4,227,477 4,513,275
Jan 1 to July 31
-Gross Earnings- -Net Earnings5,932
46,249
15,036
54,773
Green Bay & Wes ern_ bguly
Current
Previous
Previous
()arre,a
Year.
Year.
Year.
Roads.
Year.
11,091
28,284
21,626
47,304
Nevada-Cal Oregon b__ _July
123,835
135,578
702,758
724,461
July
Pacific Coast
274,934
305,848
287,128
Amer
Lt
Trac
_______
-Aug
318,152
444,704
445,063
Aug 1,572,373. 1,516,401
Pere Marquette b
2,597,099 2,579,331 2,512,266 2,504,554
Jan 1 to Aug 31
780-,956
763,242
2,977,903 2,877,278
July 1 to Aug 31
25,395
77,895
34,645
89,044
Traction....Aug
Central
Penn
16,213
25,869
109,645
102,265
Toledo Pcor & West_b_July
184,021
171,617
577,237
614,202
Jan 1 to Aug 31
INDUSTRIAL COMPANIES.
22,272
20,338
39,624
_July
45,549
_
Columbus
(Ga)
-Gross Earnings- -Net Earnings
142,150
275,204
148,118
305,248
Jan 1 to July 31
Previous
Current
Previous
Current
246,696
104,909
440,884
536,,77
Commonwealth P,R&L_Amf
Year.
Year.
Year.
Year.
4,033,808 3,507,049 1,895,056 1,661,661
31
Jan
Aug
1
to
$
$
*
S
688,772
787,129
121,881 Philadelphia Rap Trans _Aug 1,913,094 1,794,989
100,529
358,598
375,821
Kings Co El Lt & Pow_a _Aug
3,832,034 3,651,805 1,529,843 1,380,821
July I to Aug 31
3,365,895 3,024,588 1,192,074 1,112,150
Jan 1 to Aug 31
298,448
713,526
Puget Sd Tr, L & P_a_ _July
4,798,094
2,013,716
Jan 1 to July 31
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
155,838
72,453
74,658
140,538
Quebec Ry, L, H & P_July
687,013
Interest Charges and Surplus.
644,512
282,439
204,262
United RRs of San Fran July
-Int., Rentals, ecc.- -Bal. of Net Earns.
a Net earnings here given are after deducting taxes.
Current
Current
Previous
Previous
b Net earnings here given are befOre deducting taxes,
Year.
Year.
Year.
Roads.
Year.
$
$
$
$
•
516,506
728,790
488,537
Central of New Jersey.. _July
549,286
Interest Charges and Surplus.
x16,592
x8,612
5.695
4,117
Nevada-Cal-Oregon ___ _July
-Ant., Rentals, etc.- -Bal. of Net Earns.
Current
Previous
Previous
Current
y10,588 ydef21,742
Aug. 444,348
472,356
Pere Marquette
Year.
Year.
Year.
Year.
Roads.
ydef73,503ydef114,085
864,666
001,070
to
Aug
31
July 1
x6,689 xdef4,410
23,679
24,085
Toledo Peoria & West_ _July
6,671
14,504
5,834
Columbus (Ga) Electrtc_July
15,600
INDUSTRIAL COMPANIES.
68.103
52,807
74,047
95,310
Jan 1 to July 31
of Net Earns.
-Bal.
-Int., Rentals, &c.120,760
86,148
65,149
Current
Previous
Commonwealth 1,,R ix. L Aug 160,548
Current
Previous
1,212,836 1,021.695
683,420
Year.
Jan 1 to Aug' 31
639,966
Year.
Year.
Year.
Companies.
$
$
*
$
736,682
757,101
10,028 def67,910
Trans
Philadelphia
Rap
_Aug
x60.213
72,236
x30,407
68,671
Kings Co El Lt & Pow....Aug
1,515,283 1,473,972
July 1 to Aug 31
14,560 def93,151
x644,484 x620,703
576,198
534,408
Jan 1 to Aug 31
144,006
Puget Sd Tr, L Fe P.. __July
153,542
900,727
31
Jan 1 to July
1,013,989
x After allowing for other income received.
y After allowing for outside operations, hire of equipment and other inc.
x After allowing for other income received.
ELECTRIC'RAILWAY AND TRACTION 'COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Atlantic Shore Ry__ _ July
cAug Elgin 63 Chic RY July
Bangor fly & Elm Co July
Baton Rouge Elec Co July
Binghamton Railway July
Brock de Plym St By July
Bklyn Rap Tran Syst June
Cape Breton Elec Co_ July
Current
Year.
Previous
Year.
Jan.1 to Latest date.
Current
Year.
Previous
Year.
47,559 48,519
193,160
180,209
192,754 186,271 1,055,296
987,488
388,457
64,300 55,677
320,326
9,476
83,989
12,470
65,650
38,107
243,156
40,154
218,064
16,202
66,845
15,476
66,717
2195,014 2045,385 11,672,616 11,113,047
194,131
33.116 31,215
183,350
New York State Railways.
Roads.
-Gross Earnings
---Net Earnings
Current
Current
Previous
Previous
Year.
Year.
Year.
Year.
c159,833
c129,882
237,920
Ifudson & Manhattan.a.June 283,357
809,503
Jan 1 to June 30
1,842,112 1,507,694 1,066,364
654,018
552,836
Interb R T (Sub) _a_ _ _ _June 1,231,870 1,109,206
4,060,580
7,690,035
4,360,748
8,515,311
Jan 1 to June 30
1,253,784
605,662
578,409
Interboro R T (Elev) _a _June 1,275,273
7,880,212 7,780,727 3,777,408 3,675,880
Jan 1 to June 30
Total Interb B T_a__June 2,507,143 2,363,080 1,259,680 1,131,245
16,305,523 15,480,662 8,737,988 8,0:16,628
Jan 1 to Juno 30
842,508
764,959
Brooklyn Rap Tran_a_ _June 2,195,014 2,045,385
11,672,616 11,113,047 3,970,420 3,818,299
Jan 1 to June 30
SEPT. 21 1912.
THE CHRONICLE
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
Roads.
New York Rallways_a_ _June 1,183,018
6,795,582
Jan 1 to June 30
57,866
Cent Park N & E R_a_ _June
314.935
Jan 1 to June 30
90,658
June
Second Avenue_a
462,217
Jan 1 to June 80
June 333,854
Third Avenue_a
1,883,583
Jan 1 to June 30
51,417
Dry Dk E B & Batt_a_ _June
306,716
30
June
1
to
Jan
159,199
42d St M & St N Av_a_June
864,189
Jan 1 to June 30
39,507
N Y City Interboro _a_ _June
213,516
Jan 1 to June 30
Southern Boulevard a._June
14,837
Jan 1 to June 30
65,206
Union a
June 244,454
Jan 1 to June 30
1,207,987
Westchester Electric_a_June
57,875
Jan 1 to June 30
272,722
Yonkers RR _a
June
69,044
Jan 1 to June 30
356,156
Long Island Electric_a_June
22,718
Jan 1 to June 30
96,233
37,178
N Y & Long Isl Trac _a _June
. 180,238
Jan 1 to June 30
NY & Queens County.a.June 132,479
631,664
Jan 1 to June 30
17,326
Ocean Electric (L I) _a_ _June
45,936
Jan 1 to June 30
169;552
Coney Isl & Bklyn_a__ _June
719,888
Jan 1 to June 30
38,720
Richmond Lt & RIt_a_ _June
167,368
Jan 1 to June 30
,424
Staten IsI'd Midiand_a_June
Jan 1 to June 30
123,340
301,708
373,028
1,169,283
6,686,907 2,080,946 1,401,950
57,747
9,521 def.4,927
306,477
6,377 def.21,846
86,283
19,865
25,230
54,461
424,668
57,422
321,829
158,031
144,317
1,778,969
803,730
883,026
50,923
65
11,994
298,824
30,350
53,107
142,891
47,256
58,281
752,788
213,752
263,613
6,401
26,014
8,182
23,320
137,810
41,391
5,192
11,969
1,651
12,172
57,265
10,953
105,244
282,126
90,232
284,917
1,171,365
274,633
10,374
14,883
57,176
42,244
274,870
27,680
65,951 def.22,187 def.28,928
35,075
327,044
40,609
4,229
19,876
9,111
92,147
2,857 def.1,629
35,541
15,616
9,362
53,951
177,179
29,462
27,157
118,956
15,405
587,597 def.60,583
943
6,497
13,424
9,906
36,769
12,258 def.1,464
30,547
154,490
52,212
709,978
176,529
152,584
35,651
555 def.21,503
159,748
2,565 def.18,129
657
28,383
7,483
117,428
2,559
20,305
a Net earnings here given are after deducting taxes.
c Other ncome amounted to $85,007 in June 1912, against $83,485 in 1911
ANNUAL REPORTS.
Annual Reports.-An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each. month. This index will
not include reports in the issue of the "Chronicle" in which
it is published. The latest index will be found in the issue
of Aug. 31. The next will appear in that of Sept. 28.
Chicago & North Western Railway.
(Report for Fiscal Year ending June 30 1912.)
The report of the President, Mr. William A. Gardner, will
be found on subsequent pages.
Comparative tables, compiled for the "Chronicle," are as
follows:
OPERATIONS AND FISCAL RESULTS.
......
1911-12.
1909-10.
1910-11.
Average miles operated_
7,859
7,629
7,719
EquipmentLocomotives __
1,670
1,644
1,520
Passenger cars_
1,520
1.515
1,405
Freight cars
59,342
60,971
62,685
Work cars, &c _
2,025
2,172
1,881
Operations-.
Passengers (No.) __
31,526,803 30,330,000 28,697,470
Passenger mileage __ _1080580440 1054572455 1012742855
Rate per pass. per mile_
1.82 cts.
1.81 cts.
1.81 cts.
Freight (tons)
37,265,642 36,733,526 39,339,739
Freight (tons) mileage _5146634307 5433696684 5562587719
0.89 cts.
Rate per ton per mile_
0.90 cts.
0.91 cts.
260.71
Av. tr. load, rev.(tons) _
276.54
298.94
$2.32
Earns, per fgt. train mile
$2.50
$2.71
$1.15
$1.20
Earns, per pass. train m.
$1.17
$9,722
$9,706
per
mile_
revenues
$9,378
Oper.
1908-09.
7,635
1,453
1,343
58,453
1,586
26,951,319
932,232,161
1.81 cts.
32,793,0.8
4863589654
0.90 cts.
260.13
$2.33
•
*1.14
$8,641
EARNINGS, EXPENSES, CHARGES, &C.
1909-10.
1910-11.
Operating Revenues1911-12.
1908-09.
Freight revenue
_ $46,691,540 $49,024,958 $49,536,839 $43,619,091
Passenger revenue _
19,555,567 19,118,884 18,431,017 16,875,668
5,768,3,15
6,311,375
Other transport'n rev__ 6,775,256
5,146,621
439,483
Non-transport'n rev ...
462,960
676,228
337,090
Total oper. revenues_$73,698,591 $74,918,186 $74,175,684 $65,978,471
ExpensesMaint. of way & strue__ $9,368,721 $1.0,002,232)
Transportation _____ 30,924,938 30.856,8641541,746,646 $34,217,407
1,498,245
1,614,402
General
9,307,195
9,569,853
Malnt. of euiment_
9,149,217
7,845,969
1,340.086
1,232,016
1,257,756
__
Traffic
1,127,864
_ 552,701,843 $53,012,710 $52,153,619 $43,101,239
Total _____
Net open revenue _ _$20,996,748 $21,905,476 $22,022,065 522.787,232
33, 38
53,677
55,041
Outside Opers.-net def.
15,007
Total net revenue __$20,963,710 $21,851,799 521,965,124 $22,771,325
3,116,034
2,979,512
Taxes accrued......... 3,422,838
2,714,632
Operating Income _$17,540,872 518,735.765 515,955,612 520,056,693
Other Income$152,581
$135,301
5165,790
Rents-credlts
$115,611
1,711,222
Divs. on stocks owned... 1,844,722
1,594,249
1,886,192
4,087
Int. on fu.ided debt _ _
1,900
5,025
2,837
1,165,576
808,309
Int.on oth.sec.,loans;
& -c 1,238,240
549,421
Total other income_
$3,253,777 83,033,466 $2,539,759 $2,554,061
Gross income
$20,794,649 521,769,231 $21,525,371 522,610,755
Deductions-Reats-deblts _ _ _ _ _ _ _
51,194,791 $1,200,023 $1,397,278
$818,848
Int. accr. on funded debt 8,043,840
7,726,146
7,582,515
7,603,025
Other interest_
932
1,361
39,849
901
funds
Sinking
225.500
225,000
38,000
224,500
Other deductions
20,e49
10,838
13,601
28,187
Total deductions -- $9,327,318 $9,166,131 $9,226,874 $8,675,461
Net Income
_$11,467,331 $12,603.100 $12,298,497 $13,935,293
Divs. on com. stock,7% 9,108,015
9,108,015
6,972,903
8,040,435
Divs. on pref. stock,8% 1,791,600
1,791,600
1,791,600
1,791,600
surplus
- 5567.716 • $1,703,485 $2,466,459 $5,170,790
• Balance,
743
GENERAL BALANCE SHEET JUNE 30.
1912.
1912.
1911.
AssetsLiabilities$
Road & equip_ _324,616,665 306,303,101 Stock, common_132,455,531
Securs. of prop.,
Stock, preferred 22,398,954
&c.,cos., unpl 1,489,113
1,470,113 Premon can.stk.
29,658
Other invest'ts _a16,208,556 22,803,898 Bonded debt_ _ _190,460,000
0th.sec. owned.520,628,728 19.495,728 Int., divs., &c.,
Co's stk. in tress 2,342,262 2,342,152
unpaid
3,110,150
Agts. & conduc_ 3,208,860 2,693,355 Vouch.& wages. 4,630,032
Bills receivable_
449,224 Misc. accounts
511,932
365,290
Materials & supp 4,473,324 4,669,456 Accr'd int., &c_ 1,921,421
Cash
15.273,687. 12,964,393 Traffic, &c.,bal. 1,596.347
Sinking funds
3,989,029 6,286,878 Def. credit items 3,622,321
Misc. accounts
2,616,515 2,208,721 Approp.surplus. 3,988,522
Advanres
347,428 Profit and loss__c34,186,372
2,447,045
Def. debit items.
958,882
991,865
Total
398,764,598 383,026,313
Total
1911.
$
132,455,531
22,398,954
29,658
174,462,000
3,134,844
4,609,460
207,572
1,717,276
1,476,042
2,637,635
6,830,878
33,066,463-
398,764,598 383,026,313
a Other investments in 1912 include advances to proprietary, affiliated and
controlled companies for construction, equipment and betterments, $15,177,45‘
and miscellaneous, $1,031,101.
S Other securities owned In 1912 include M. L. S. & W. ext. and inlet. bonds on
hand, $40,000; C. & N. W.gen. M.of 1987 due from trustee, $5,910,000: Southern
Iowa By. 1st M.bonds on hand.8431,000: $14,920,000 capital stk. of Chic.St. P.M.&
0., valued at 810,337,152: 84.171,500 Union Pac. RR. pref stk., valued $3,910,576.
c After adding amount transferred from appropriated surplus on account of
retirement of Madison extension and Menominee extension 1st M.sinking fund bonds
and C. & N. W.By.sinking fund bonds of 1879,$2,923,450; and deducting $796,906
for depreciation accrued prior to July 1 1907 on equipment retired or changed from
one class to another during 1911-12: 81,125,000 for discount on Milwaukee Sparta &
N. W. Ry. 1st M. bonds sold during 1911-12, $362,560 for net loss on property sold
or abandoned and not replaced, and $86,791 for minor adjustments.-V.95, p. 419
Chesapeake & Ohio Railway.
(Report for Fiscal Year ending June 30 1912.)
The remarks of President Stevens at length, together with
the balance sheet and income account in detail, are published on subsequent pages.
Below we give comparative statistics and income account
and balance sheet for several years, the figures in the late
and the preceding year including the Chicago line (C. & 0.
Ry. of Indiana) 284.6 miles.
Average miles operated _
EquipmentLocomotives
Passenger cars........
Freight cars _
Tool, camp and ballast _
EQUIPMENT, &C.
1911-12.
1910-11
2,229
2,229
793
373
44,124
681
780
342
42,187
681
1909-10
1,937
1908-09.
1,897
699
306
37,797
863
672
306
34,539
659
OPERATIONS AND FISCAL RESULTS.
1911-12.
1910-11.
1909-10.
1908-09.
2,263
Average miles operated_
2,229
1,937
1,897
OperationsPassengers carried _
5,489,040
5,618,791
4,969.612
5,097,237
Pass. carried one mile. _252,397,519 253,262,253 226,715,956 217,694,041
Rate per pass. per mile.. 2.181 cts.
2.177 cts.
2.206 cts.
2.059 eta.
Freight (tons) carried __ 26,147,903 24,604,650 22,892,229 18,511,362
Freight (tons) carr. 1 m_6692114437 6082682596 6123134875 5095552874
Rate per ton per mile__ 0.407 cts.
0.421 cts.
0.407 cts.
0.410 cts.
756
Av. rev, train load (tons)
656
701
675
Earn, per pass. tr. mile,
incl. mall & express__
$1.27
$1.32
Earns. per fgt. train mile
$3.08
$2.76
$2.84
52.76
Earns, per mile of road _
$14,617
$15,152
$15,439
$13,375
Revenues
Freight
$27,261,475 $25,590,027 $24,901,200 $20,885,511
Passenger
5,505,536
5,512,932
5,002,205
4,482,004
Mall
371,137
371,338
360,223
388,453.
Express
586,021
536,908
450,772
407,575
Other transport'n rev__
323,569
339,110
335,345
342,672
Non-transportation rev_
242,131
233,096
187,424
124,503
Total revenues _____ _534,289,870 $32,583,411 $31,237,169 $26,630,718
ExpensesMaInt. of way & struc.... $3,981,646 $4,141,572 $3,391,032 $3,101,151
Maint.
ip
724,460
6,198,825
5,858,843
4,938,938
Traffic ----------------636,967
615,338
466,042
535,207
Transportation
10,503,415 10,044,172
8,509,434
7,328,683
General
789,193
793,707
532,024
642,183
Total expenses..$22,635,681 $21,793,615 $18,936,699 $16,366,838
(66.0)
Per cent exp. to earns
(66.9)
(60.6)
(61.5)
11,654,189 10,789,796 12,300,470 10,263,880
Net revenues _
1,808,563
Other income
1,560,815
1,161,365
708,863
Total ___ ______ _ _ _513,462,752 $12,350,611 *13,461,835 $10,972,743
Dcduct$7,045,262 $6,506,896 $5,122,901 $4,456,085
Intetest on bonds
873,744
1,065,853
801,600
Taxes
1,014,220
524,947
447,250
382,651
297,045
Car trust Interest
______
1,005,000
Car trust principal
246,560
Rental leased equipment
56,655
55,449
59,722
66,700
Loss on elevator
Int.coll.notes&gen.acet.
450,000
__
Extraordinary
______
212,449
Rentals of leased roads,
joint tracks, he-- _
775,364
626,649
659,957
816,817
797
Mlsce laneous
48,100
61,013
Dividends
(5)3,139,627 (5)3,130,625(43.1)2668617(2)1,255,814
$12,328,173 512,261,951 59,839,967 $9,453,279
$1,134,579
$88,660 $3,621,869 $1,519,464
BALANCE SHEET JUNE 30.
(Excluding stocks and bonds owned of auxiliary companies. The balance
sheet of June 30 1912 ls given at length on page 750.1
1011.
1912.
1911
LiabilitiesAssets19 794 192,434,877 Stock,common_ 62,792.600 62,792,500
Road & equip1.195,59$172,.
122,291 Stock, 1st & 2d
150,607
Physical prop__
3,200
preferred
3,400
Equip, sub). to
C. & 0. of Ind..
conditional sale
common
1,200
1,200
contract (see
2,170,000 Bonds(see"R.&
contra)
I." Section)_ _ _152,545,000 155,253,000
Securs., prop'y,
&c., cos., pledg 25,967,408 16,529,982 Equip. tr. obligs 6,623,699 8,742,371
Co's bds.pledged 22,300,000 6,787.000 1st lien & imp.5s
152,014 (unpledged)
180,062
Advances
22,468,000
941.690 Equip. tr. notes
79,866
Construe.funds_
Cash in treas.,,Stc 1,956,863 10,030,358 (collat. for bills
Payable)
Cash for int. and
2,170,000
933,670 Int., &c., accr
1,009,512
dividends
1,799,236
1,815,193
Unpd.int.& divs. 1,024,700
Cash for matured
936,887
126,174
140,194 Vouch. & wages 3,898,353 3,332,313
notes, &c
857,762
926,481 Traffic balances.
270,279
Agts. &conduc_
318,676
712,914
730,878 !disc. accounts
239,130
Traffic balances.
359,236
998,011
1,205,534 Loarv&bilis pay.
85,000
Misc.accounts_ _
90.000
Materials & supp 3,094,579 2,449,128 Taxes accrued
571,720
539,866
127,785
Sundry def.lib.
Securs. In treas.
81,680
4,158,934 4,659,460 Approp.surplus. 2,994,921
unpledged
2,984,878
918,741 Profit and loss._ 2,760,398
Deferred assets_ 1,014,735
1,711,100
Total
Surplus
Total assets_258,205,221 241,132,298
-V.95, p. 358.
Total liabll's_258.205,221 241,132,298
Chicago St. Paul Minneapolis & Omaha Ry.
(Statementfor Fiscal Year ending June 30 1912)
1908-09.
1909-10.
1911-12.
1910-11.
Total oper. revenue_ __ _$15,135,426 516,092,851 515,095,023 513,524,650
8,831,229
9,888,479
Operating expenses____ 10,466,216 10,656,053
Net operating income 54,669,210
Total net Inc. (aft. tax.) $4,122,304
1,649.029
Interest on bonds
388,672
Rentals & miscell
Divs. on corn. stk.(7%) 1,298,934
787,976
Divs. on pref. stk.(7%)_
Balance for year
-V.94, p. 1316.
55,436.053
54,833,220
1,631.590
355,245
1,298,934
787,976
$5,206,544
$4,665,504
1,611,567
438,652
1,298,934
787.976
$4,693,421
$4,173,606
1,602,773
308,593
1,298,934
787,976
def$2,307 sur$729,475 sur$528,375 sur$175,330
Wabash Railroad.
(Statement for Fiscal Year ending June 30 1912.)
The results for the fiscal year, as reported in the newspapers, compare as follows:
1908-09.
1909-10.
1910-11.
1911-12.
Revenue-519,074,821 $20,160,877 519,473,372 517,176,709
Freight _
7,075,314
6,395,775
7,400,934
6,993,874
Passenger
2,337,370
2,322,226
2,295,549
Mall, express, &e ______ 2,286,069
$28,354,764 $29,884,037 $28,886,056 $25,868,033
Total
Operating. expenses__ __ 23,150,484 22,366,183 20,536,223 18,757,185
Net operating revenue $5,204,279
851,629
Taxes
$7,517,854
920,872
$8,349,833
851,324
57,110,848
809,636
Operating income__ __ $4,352,650
749,509
'Other income
$6,596,982
819,532
$7,498,509
874,172
$6,301,212
1,137,445
$7,416,514 $8,372,681
$6,814,935 $6,556,963
(6)210,000 (6)210,000
(3)795,000(4)1,060,000
$7,438,657
$6,857,916
(6)210,000
(2)530,000
___ 55,102,159
Total Income
________ $7,966,757
*Interest, rentals,
Div. on deb. A bonds_
Div. on deb. B bonds_
Balance, sur. or detdef$2,864,597 def$403,421 sur$545,718 def$159,259
Incl. an amount yearly for additions and betterm'ts.-V. 95, p. 298, 177.
Chicago Milwaukee & St. Paul Ry.
(Report for Fiscal Year ending June 30 1912.)
Pres. A. J. Earling, Chicago, Aug. 1912, wrote in substance:
Results.-The total operating revenues were $63,122,743, a decrease of
$1,853,252 as compared with the prev ions year. The revenue from freight
traffic was 542,815,573, a decrease of $1,960,881, or 4.38%,and the revenue
from passenger traffic was 513,936,963, a decrease of $140,794, or 1%.
The number of tons of freight carried was 26,575,784,a decrease of 217,863 tons, or .81%. The number of tons of all agricultural products carried
was 5,179,062 tons, a decrease of 560,323 tons, or 9.76%, such products
comprising 19.49% of the total tonnage carried, as compared with 21.42%
last year. Commodities other than agricultural products aggregated 21,.396,722 tons, an increase of 342,460 tons, or 1.63%, while the increase in
products of mines was 344,191 tons and in manufactures of 97,992 tons.
The crop failure of 1911 In Western Minnesota, South Dakota and Southern North Dakota was the most complete that ever occurred In these States.
This unprecedented crop shortage was largely the cause of the decrease In
freight revenue for the past fiscal year. It affected the territory tributary
to about 24% of the total miles operated. The decrease In the total number of tons of grain transported was 762,193 tons. This would have been
much greater but for the increase of short-haul grain tonnage secured at
• other points. The average haul of grain was 233 miles, a decrease of 52
miles compared with the previous year.
The number of tons of revenue freight carried one mile decreased 4.09%
The averand the revenue per ton mile was .8386 et., a decrease of .30%.
decrease
age miles each ton of revenue freight carried was 192.12 miles-a
freight
per
freight
revenue
Of
tons
of
number
The
3.30%.
or
miles,
of 6.56
year, and the revenue
and mixed train mile was 287.98, against 274.58 lastof
4.56%.
from freight per train mile was 52.4140, an Increase
The number of passengers carried decreased 1.50% and the number
carried one mile increased 6,770,527, or 1% The revenue per passenger
per mile was 2.038 cts., a decrease of 1.97%, and the average miles each
passenger was carried was 48.24 miles. an increase of 1.19 miles.
(The semi-annual dividends paid Mch. 1 and Sept. 1 1912 on the $116,2% each, comparing with 355% semi348,200 common stock were only 25,
annually from March 1902 to Sept. 1911 incl., and reducing the annual
rate from 7 to 5% yearly.-Ed.1
Operating Expenses.-These were $47,743,156, an increase of $689,438,
due to (a) an increase In maintenance of way and structures of $946,914,
in maintenance of eqnipment to $841,887, in traffic expenses of 51,864
and in general expenses of $22,674, and (b) decrease in transportation expenses of $1,123,901. The cost of labor In renewal of rails and tics, gen•erai track repairs and removal of snow, sand and Ice, for the year,increased
4508,1324.
Results on Chicago Milwaukee ee. Puget Sound Ry.-See separate income
account below.-Ed.
Eguipment.-Durinl the year the following equipment has been acquired:
89 locomotives, 4 ma cars, 969 box cars, 2 ditchers, 2 wrecking cranes
he following equipment, which had been dropped
and 1 derrick car.
from inventory prior to June 30 1907, was re-Instated: 60 locomotives,
8 passenger cars, 4 sleeping cars, 2,501 box cars, 199 fiat cars and 30 other
cars. Eight locomotives and 772 cars of various classes were destroyed by
wreck or fire, sold or taken down on account of small capacity; their original
cost has-been credited to road and equipment.
Orders have been placed for the purchase or building of additional equipment as follows: 171 locomotives, 2,061 box cars, 500 refrigerator cars,
20 passenger coaches, 15 sleeping cars, 10 tourist sleeping cars, 3 observation cars, 10 baggage cars, 5 gas electric motors, 10 box cars(narrow-gauge.)
5 stock cars (narrow gauge), 1,000 ballast cars, 3 gravel spreaders and 2
pile drivers.
Addittons.-"Property investment, road and equipment," increased, net,
59,381,163, the additions aggregating $9,752,632 (from which was deducted
$371,475 for sundry credits), as follows:
$500,840
$4,319,490 Yard improvements
Equipment
324,806
1,393,039 Shop improvements
td main track
212,107 Line Crystal Falls to Iron Riv. 29,281
3d ec 4th main track
Reducing grade & impr.line 245,138 Other add'ns & betterm'ts 2,728,047
During the year 2,058 miles of additional main track was completed, viz.:
Minnesota Falls to Great Northern Tower, Minn., 5.80 m.; Montevideo to
Double Track Switch, Minn .10.09 m.; Whitman to Minneiska, Minn.,4.69 m.
Improvements Authortzed.-The traffic has reached a point where additional facilities are demanded for safe and economical movement, and to
meet these requirements construction was begun in April upon 323.9 miles
•of second track, of which 160 will be available this fall and the remainder
next spring, viz. (miles):
38.1
40.8 I Marion to Eiberon, Ia
Hopkins to Glencoe, Minn
120.5
Granite Falls to Milan, Minn__ _27.5ICapron to Manilla, Ia
Milbank to Aberdeen, S. Dak_ _97.0i
Extensive improvements are being made at various points, increasing
terminal facilities at Chicago, Milwaukee, Savanna, Ill.; Perry, Ia.: Council Bluffs and Montevideo, Minn. An extension is under construction from
Crystal Falls to Iron River, Mich., about 22 miles of main track and 26 miles
of side tracks to various iron mines. Automatic bloek signals arc being installed between Ilondout, Ill., and Lake, Wis., and between Elgin andSavanna, Ill. The tracks on the Hastings and Dakota Div. In Minneapolis
are being depressed an average of about 20 ft. for about three miles at an
estimated cost of $1,060,000. This will result in eliminating 37 grade
crossings.
Renewals, &c.-Tbere were 82,175 tons of rail and 2,757,292 cross-ties
laid In renewals, being an excess of 631 tons of rail and 930,205 ties at an
Increased expenditure of $62,610 and $632,160, respectively.
During the year 34 steel bridges, aggregating 3.085 ft. In length, and 18
masonry bridges, aggregating 1,270 ft. in length, were built-replacing
2,880 ft. of wooden bridges, 907 ft. of iron bridges and 568 ft. of embankment; and 454 wooden culverts were replaced with iron. About 2.6 miles
of pile bridges were filled with earth, 108 bridges having been completely
tiled and 74 reduced In length by filling.
Lxxxxv.
THE CHRONICLE
74.4
Funded Debt.-The funded debt has been decreased during this fiscal year
by $155,000 of bonds retired and canceled and It has been increased by 51,056,000 of general mortgage bonds issued for bonds retired and canceled,
as stated above, and for additions and improvements to property to June 30
1911, and by $34,893,500 of convertible 4 55% gold bonds (see V.94, p. 1056,
1565) issued for the purchase and construction of additional lines of railway, additions to and improvements of railroad and property, and additional
equipment and real estate necessary In the operations of the railroad; also
for the purchase, construction and equipment of extensions, branches and
additions the railroad of the Chicago Milwaukee & Puget Sound Ry. Co.,
the capital stock of which Is owned by this company.
The amount of bonds at the close of the year is $268,367,155, of which
$40,768,000 are In the treasury (this last item having been increased
during the year by $155,000 general mortgage bonds for underlying bonds
paid and canceled and $901,000 for additions and improvements).
Indiana Harbor Belt RN.-For the purpose of securing better facilities
In the interchange of traffic with other railways outside of the limits of the
city of Chicago, enabling it to more directly participate in serving the territory now under development in the vicinity of Indiana Harbor and Gary,
Ind., and tributary territory, this company has acquired by purchase 20%,
of the outstanding capital stock and 20% of certain obligations of the Indiana Harbor Belt RR., which owns or has trackage rights over about 104
miles of railroad connecting with the lines of this company at Franklin Park,
(V. 93. p. 164: V. 86, p. 108.)
Outlook.-The 1912 crops of small grains in the territory tributary to
the company's lines are excellent and the yield will be considerably above
the average. Since June 30 1912 there has been a general revival of business in all lines, and the outlook is that there will be a substantial increase
In the earnings of the current fiscal year.
OPERATIONS.
1908-09.
1909-10.
1910-11.
1911-12.
7,511.73
7,511.56
7,511.56
7,511.41
Miles operated, average_
Equipment _a1,149
1,199
1,244
1,385
Locomotives
1,111
1,103
1,240
1,258
Passenger equipment_..
48,474
46,173
45,752
48,690
Freight & miscel. cars
Operations14,177,026 *14,392,918
Passengers carried
Pass. carried one mile.. 683,916,289477,145,782
Rate per pass, per mile_ 2.038 cts. *2.079 cts.
C Freight (tons) carried.. 26,575,784 26,793,647 30,698,915 27,499,704
c Fgt. (tons) carr. 1 mile 55,105,842 55,323,535 55,326,908 65,051,527
0.838 eta.
0.843 cts.
0.841 cts.
Rate per ton per mile_ _0,838 ots.
274
276
288
275
Av. rev. tr.-load (tons):
$0.9235
$1.0217
30.9028
$0.9628
Earn. per pass, train m_
52.2929
52.3233
$2.3095
$2.4149
Earn, per fgt. train mile
$7,974
$8,633
$8,650
$8,403
Earns, per mile of road_
* Estimated. a Inchnies narrow-gauge equipment.
(000) omitted. c Revenue freight only.
b Three ciphers
INCOME ACCOUNT.
1908-09.
1909-10.
1910-11.
Operating Revenues- 1911-12.
$14,077,757 $14,786,744 $12,774,852
$13,936,963
Passenger
42,815,573 44,776,454
Freight
01agg
3 4,2
6,121,784 4g,?2?:017
6,370,207
Mall, express, &e
Total oper. revenue....$63,122,743 $64,975,995 $64,846,894 $59,897,463
ExpensesMaInt. of way & strife__ $8,812,314 $7,865,401 $8,472,825 $7,288,603
7,270,774
7,724,569
8,839,384
Maint. of equipment_ _ _ 9,681,271
1,334,006
1,122,710
1,284,272
1,266,136
Traffic expenses
Transportation expenses 26,842,051 27,965,953 26,347,283 21,764,471
1,073,385
1,123,610
1,118,709
1.141,384
General expenses
Total expenses
547,743,156 547,053,719 $44,790,997 $38,731,238
• (64.66)
(69.07)
(72.42)
P.c. oper. exp. to earns.
(75.64)
Net operating revenue_ _515,379,587 $17,922,276 $20,055,897 $21,166,225
179,683
207,620
195,668
Outside operations, net.
a21,468
Total net revenue_ _ _ _315,401,055 $18,117,944 520,263,517 $21,345,908
2,428,676
2,529,373
2,662,700
Taxes
2,868,710
Operating income_ _ _ _512,532,345 515,455,244 517,734,144 $18,917,232
804.880
Divs. on stocks owned....
31,825 55,065,115 c6,05094:048986
4,730,978
Int. on C. M. & P. S. bds. 5,283,516
Int. on other securities,
1,090,245
1,628,4361 2,589,175
1,575,206
loans, &c
116,420J
292,425
Miscellaneous income......
228,228
(d)
338,838
Rents-Credits
408,976
Total
$20,124,293 $27,335,031 $27,187,695 520,235,705
DeductInt. on funded debt_ _ _1$8,494,529 $8,372,348 156,651,215 $5,855,717
160,589
1
Int. on European loan_ J
811,079
1,416,490
1,945,827
Hire of equip. balance. _ 1,246,290
455,808
(1147,964
508,663
453,023
Rents-Debits
126,489
149,879
U.S. Gov't excise tax.. _
Proport'n of disc't on
3,165
x gen. M. 4% bonds..
5,806,780
8,115,233
5,115,233
Divs. on pref.(7%).. - 8,115,233
5,797,300 (7)8,116,220 (7)8,116,220 (7)6,966,743
x Divs. on com(5%)_
Total deductions
Balance
$24,106,380 $27,208,170 $24,737,355 519,897,027
def$3,982,087 sur$126,861sur$2450,330 sur$338,678
a Outside operations, net-sleeping, parlor and dining cars, elevators,
hotels and restaurants in 1911-12-include gross, $1,365,789; expenses,
$1,344,321: net, as above, $21,468.
b Dividends on stocks owned In 1910-11 include $5,000,000 (5%) received
on the $100,000,000 Chic. Milw. & Puget Sound fly. stock owned.
c Includes interest for 18 months on Ch. Mil. & Pug. Sd. bonds owned.
d Rents are shown In 1900-10 as a net item tinder deductions.
x Dividends as shown above include the semi-annual distributions made
this
In March of the several fiscal years and those of September following,
method differing somewhat from that used by the company, but being
employed for the sake of simplicity.
BALANCE SHEET JUNE 30.
1911.
1912.
1911.
1912.
ASVISLiabilities5
116,348,200
Road & equip_a296,242,602 289,236,420 Common stock _116,348,200
Preferred stock _116,274,000 116,274,000
Stocks of prop.,
Funded debt_ _ _208,367,155 232,572,655
&c., cos.
853,937
1,131,066
Traffle,&c.,bals.
14,364,597
14,364,597
unpiedged
Pay-rolis & vouBonds of pron..
6,534,394 4,001,529
&e.,cos.unpledg117.178.054 118,457,075 chers
36,000
10,000
Adv. to prop.cos 48,457,491 38,852,0r0 Mat. fund. debt.
638,125
642,906
383,186 Misc. accounts__
328,331
Misc..investnfts
22,183.141 13,579,694 In L.& taxes acer. 3,276,002 3,133,425
Cash
402,200 French Govt.tax
402,200
Cormstk.in tress
1,308,399
343,000 Ettropean loan.. 1,308,398
343,000
Pref.stk.in treas.
1,807,674
Bonds in trees_. 40,768,000 39,712,000 Insurance fund_ 2,714,687
473,217 Other def. credit
Leans& hills rec. 2,539,681
422,065
234,244
257.217 Items
319,522
Traffic,&c.,bals.
994,177 Approp. surp.Agts. & conduc_ 1,703,892
477,214
431,565
Materials &supp 5,491,452 4,981,953 Inv.In sink.fds
1,973,592 Not specifically
Misc. accounts_
2,345,889
625,000
invested ___..
790,123
37,455
Accrued Interest 2,630,750
Profit and loss_ _642,931,525 49,278,508
Taxes Paid *nailto
later
cable
443,904
period
412,278
477,214
431,665
Sinking fund
Insurance fund., 2,801,100 1,804,544
Other def. debit
1,008,886
'items
2,046,923
Total
560,990,474 527,782,412
Total
560,990,474 527,782,412
a After deducting reserve for accrued depreciation, 55,350,292. b After
adding 5349,011 for salvage value of small capacity locomotives and cars
returned to inventory Jan. 1 1912 and deducting $1,013,700 for insurance
reserve, and $355,263 for expense of flotation of convertible 45,5% bonds
and making sundry minor debits and credits.-V.94, p. 1565.
SEPT. 21 1.912]
TIIE CHRONICLE
Chicago Milwaukee & Puget Sound Ry.
(Report for Fiscal Year ending June 30 1912.)
This subsidiary of the Chicago Milwaukee & St. Paul Ry.
Co.(see above) reports through its President, H. R. Williams:
Results.-The total oper.revenues were $16,132,612.-increase $1,616,245.
Tile revenue from freight traffic was $12,080,491 (80.46% of total revenue)-an increase of $478,533, or 3.83%. The number of tons of freight
carried was 2,710,331, an increase of 258,160 tons, or 10.53%. The following classes of commodities show an Increase: Products of agriculture,
156,026 tons; products of animals, 13,009 tons; products of mines, 111,968
tons, and products of forests, 51,507 tons. There was a decrease in manufactures of 65,284 tons, and commodities not specified, 9,066 tons. The
number of tons of all forest products carried during the year was 1,096,459
tons, an increase of 4.93%. Forest products comprised 40.46% of the
total tonnage carried, as compared with 42.61% last year.
The number of tons of commodities other than forest products carried
was 1,613,872 tons, an increase of 206,653 tons, or 14.09%, the per cent of
the total being 59.54%, against 57.39% last year.
The number of tons of revenue freight carried one mile Increased 12.68%
and the revenue per ton per mile (.883 cents) decreased
.076 cent,or 7.92%.
The average miles each ton of revenue freight was carried
was 542.51 miles,
an Increase of 1.95%. The number of tons of revenue freight
per freight
and mixed train mile was 445.90, against 420.85 last year, an Increase
of
0.07%, and the freight revenue per train mile was 63.5714,
decrease
The revenue from passenger traffic was $2,631,901 (16.32% of the.33%.
total
revenue), an Increase of $1,028,305, or 64.12%. The number of passengers
carried was 712,011, an increase of 9.24%, and the number
one mile
was 107,236,713, an Increase of 60.16%; the revenue percarried
passenger per
mile was 2.454 cents, an increase of .59 (sent; tile average miles each passenger was carried was 150.42 miles, an increase of 47.82 miles.
Operating Expenses.-These were $9,512,028, an increase of $1,221,899.
There was an increase in maintenance of way and structures of $220,961;
maintenance of equipment of $291,914: traffic expenses of $188,680; transportation expenses of $444,058, and general expenses of $67,287. Taxes
Increased $524,412.
Funded Debt.-The funded debt was increased during this fiscal year by
$732,410 1st M. bonds, issued for funds advanced by the Chicago Milwaukee
& St. Paul By. Co. for extensions, construction and equipment.
Track.-Tho company was operating June 30 1912 2,602.26 miles of
track [contrasting with 2,529.60 miles June 30 1911]. Since
last annual
report the line extending from Cedar Falls to Everett, Wash.the
55 miles, and.
the extension of tile Grays Harbor line, from
Wash., to Hoqulam, also the line from Lewistown, Mont.,Cosmopolls,
to Hilger, 17 miles, have
been completed.
Work in Progress.-A branch line extending In westerly direction from
Tiflis, Wash., to Moses Lake, about 15 miles, is anow
The Priest Rapids line, extending southeasterly from under construction.
a point near Beverly,
Wash., to Hanford, Wash., about 45 miles, will be
completed about Jan. 1.
Construction work on the line from Lewistown
to
Grass
Range, Mont.,
36 miles, has been resumed. Construction work
on a line extending from
Lewistown, Mont., to Great Falls, 137 miles, will
be completed about
June 1 1013.
This company has been operating over the track
of the Butte Anaconda
& Pacific By. Co. between Colorado Junction
and Cliff Junction, Mont., a
distance of 13.6 miles. In order to secure
alignment and maximum grade
corresponding to this company's line between Deer Lodge
and Butte, contract has been let for an independent
line between the points named. It
will be completed about Feb.
1 1913.
Work on the Snoqualmie tunnel in the CascadeMts. 11.700
ft. in length,
Is now under way. When completed, will
it
shorten the line 3.6 miles and
eliminate the heavy grade on the present line between Rockdale
and Laconia.
The work of improving our terminals in Spokane will be
completed about
Jan. 1. Tile line from Spokane to Marengo, Wash.,65 miles,
which is being
built by the Oregon-Washington RR. & Navigation Co., will be
used jointly
with this company. The line from Plummer to Bell will, in
conjunction
with tile Spokane-Marengo line, and contracts giving each company the
right to use the tracks of the other between Bell and the proposed Union
Depot at Spokane, give your company a line via Spokane for through
passenger trains.
Purchase.-In Feb. 1912 about 2 miles of track between Bagley Junction
and Selleck, Wash., was purchased from the Seattle Southeastern By. Co.
for $80,000 of our bonds.
Equipment.-Orders have been placed for tile purchase of 500 automobile
carriage cars, 6 locomotives and 2 gas-electric motor cars. During the
year tile following equipment has been acquired: 30 locomotives, 6 cars
for passenger service, 695 other cars; 2 ditchers, 4 steam shovels, 6 Lidgerwood unloaders, 2 slope levelers and 2 cable stretchers. One locomotive
and 89 cars were sold or destroyed by wreck or fire.
Controlled Companies.-The results shown by the Gallatin Valley By.
Go. as an independent corporation (see below) are not satisfactory, but
taking into consideration the business created and secured for the Chicago
Milwaukee & Puget Sound and the Chicago Milwaukee & St. Paul Railways,
which for the year ending June 30 1912 amounted to approximately $271.000, practically all of which was competitive, the property Is regarded
as
a good investment. A line from Bozeman to the Dry Creek district, 25
miles northwest, is now under construction. This, when completed, will
give access to the business of a rich agricultural district, and will be of very
great advantage to the Gallatin Valley and affiliated companies.
In January 1912 we acquired 71% of the total capital stock of
$1,000,000
of the Bellingham Bay & British Columbia JIB. Co. and all of the
capital
Stook ($200,000) of the Bellingham Terminal & Railway Co., which
leased to and operated by the Bellingham Bay & British Columbia RR. is
Co.
The line extends from Bellingham to Glacier, Wash. with a branch line from
Hampton to Lynden, a total of 70 miles of standard-gauge
of
railroad,
which 7 miles is owned by the terminal company. The equipment consists
of 8 locomotives, 8 passenger cars and 209 freight cars.
The Milwaukee Terminal Railway co., organized with a capital stock
of $250,000, has car ferry landings, tracks and industrial spurs at Ballard,
Port Blakely, Eagle Harbor and Bellingham, Wash.; also at Front St.,
Tacoma, between which landings and the Seattle and Tacoma terminals of
the Chicago Milwaukee do Puget Sound fly. Co. regular car ferry service
Is maintained, affording a connection with the Bell, 13ay & British, Col.By.
The Idaho & Western Ry. has during the year been completed from
DIshman. Wash., to Coeur d'Alene, Idaho. A line connecting with your
railway at Plummer, Idaho, and extending to Bell. Wash., a point on the
Oregon-Washington RR. & Navigation Co.'s line, 22 miles, is now In course
of construction and will be completed about Jan. 31 1913.
Track laying on the first 12 miles of the Big Blackfoot By. from Bonner,
Mont., to Blackfoot Junction, was completed during the year and connection made with the logging railroad of the Anaconda Copper Mining
Co.
It Is expected that the line from Big Blackfoot Junction to
Browns Lake,
Mont., will be completed next year.
TRANSPORTATION STATISTICS.
year ending June 30- 11 Mos. end.
1911.
1912.
June 30 1010.
Rev.freight-tons carried
2,452,171
2,710,331
1,537,883
Rev,freight-tons car'd 1 mile_1,470,385,095 1,304,904,473
915,972,804
Tons of co freight car'd 1 mile_ 150,603.257
163,424,325
186,777,810
Tons of rev,freight per train In_
374.01
404.56
321,38
Average rev, per ton per mile
0.958 cts.
0.883 cts.
1.046 (As.
Aver, freight rev, per train mile
$3.5833
$3.5714
$3.3621
Passengers carried
•652,591
712,011
Passengers carried 1 mile
107,236,713 .66,955,982
Av. rev, from pass.p.pass.tr.m.
91.49 cts.
95.74 cts.
86.04 cts.
Average rev, per pass. per mile_
2.454 cts.
•2.395 cts.
Equipment, June 30 1912-Locomotives, 427 (agst. 398 In 1911
388
in- IMO); cars in passenger service, 221 (agst. 211 and 108); cars inand
freight
service, 11,959 (agst. 11,513 and 10,895); caboose oars, 259; work train,
wrecking and tool cars, 1,101; office car, 1.
• Estimated. '
Average in Iles
Freight earnings
Passenger earns
Mall, express, &o
Operating revenues
INCOME ACCOUNT.
-Years end. June 30- 11 Mos.end.
1912.
1911.
June 30'10.
2,058.74
1.917.06
1,434.29
812,980,492 $12,501,958 $9,582,570
2,631,901
1,603,500
995,422
520,210
410,812
187,712
$16,132,612 $14,516,367 $10,765,704
745
Operating ExpensesMaintenance of way and structures__ $1,194,892
Maintenance of equipment
1,794,258
Traffic expenses
552,506
Transportation expenses
5,722,917
General expenses
247,455
$964,932
1,502,344
363,826
5,278,859
180,168
$459,048
889,727
314,777
3,488,837
122,471
Operating expenses
$9,512,028
$8,290,129
$5,274,860
Net operating revenue
'Outside operations._
$6,620,584
112,114
$6,220,238
13,808
5,490,844
37,829
$6,732,698 $6,240,046
)
6 1,053,253 f $515,094
1
13,747
$5.528,673
$235,361
4,980
Total net revenue
Taxes accrued
U. S. Government excise tax
Operating Income
Hire of equipment
Dividends on stocks.
Interest on bonds owned
Other interest
Miscellaneous
$5,679,445 $5,711,205 $50,288,332
$841,689 $1,729,431
$648,118
47,037
164,937
50,000
25,825
560
183,720
119,157
1,960
53,762
40,062
Gross corporate income
$6,855,653 $7,790,617 $5,938,970
DeductRentals
$231,550
$53,615
$76,097
Interest accrued on bonds_ _ _
__ 6,213,008
4,920,000
3,666,667
Extinguishment of disc, on securities_
109,466
44,805
Dividends (2 3-10%)____
x2,300,000
Miscellaneous interest
453,167
Total deductions
$7,007,191 $7,318,420 $3,742,784
Balance-__ def.$151,538 sur.$472,197sr.$2,196,206
Bal. of Income acct. Mont. 11R., 5
mos. ending Dec. 31 1909 _________
59,234
Balance for year, carried to credit of•
profit and loss _
def.$151,538 sur. $472,197sr.$2,255,440
'Outside operations, vlz..• Sleeping and dining cars, hotels and
restaurants, gross, $596,112 in 1911-12, against $651,921 In 1910-11
and $400,683
In 1909-10; expenses, $483,998, against $638,112 and $362,854;
net, as
above, $112,114, against $13,808 and $37,829.
x There was also paid 2.7% ($2,700,000) from "net Income
to June 30
1910," making a total of 5% ($5,000,000) paid in dividends
since the
organization of the company (V. 93, p. 588.)
OPER. FOR FISCAL YEAR 1911-12 OF COS.INDEPENDENTLY OPERATED.
(Entire stock, except 29% of Bellingham Bay & British Columbia RR., owned.)
Tacoma Gallatin Milw. Bell.Bay& BeR.T. Total,
East.RR. Vall.Ry. Terrn.Ry. B.C.RR. Ry.Co. All Coo.
$
Revenues
576,281 116,629 18,589 329,269 12,530 1,053,298
Expenses
414,976 83,899 35,462 212,856
208
747,400
Net revenue
161,305 32,730(11.16,873 116,413 12,322
305.898
Taxes
41,904
5,175 8,125 21,459
244
76,908
Operating Income
119,401
27,555df.24,998 94,954 12,078
228,990
Rents received
(net) 12,974 deb 100 db.1,580db.11,142
152
Total
132,375 27,455 df26,578 83.812 12,078
229,142
Deductint. paid C. M.& P. Sd...._ 73,782 39,457
533
113,778
Interest on bonds
44,200
32,411
70,611
Hire of equipment
6,426
22,943
3,880
33,249
Other interest, &c
14,081
14,081
Sinking fund
11,082
11,082
Total
Balance
•
140,925 45,883
533 61,454
df.8,550 df.18,428df.27,111 sr.22,358sr.12,078
248,796
df.19,654
BALANCE SHEET JUNE 30.
1912.
1911.
1912.
1911.
Assets$
Liabilities$
$
Road & equip_ _267,789,478 258,792,229 Cloits1 stock___100,090,000 100,000,000
Stks:of prop.,&c.
Funded debt_ _ _155,691,410 154,959,000
cos.,unpledged_ 7,418,049 5,876,507 Advan. reed for
Bonds,unpledged 1,036,878
1,022,778 coast., eq., &e. 29,422,342 15,698,816
AcIvan. to prop.,
Pay-rolls&vouch 2,195,934
1,846,324
&c., cos
4,146,266 3,289,880 Couanot presen.
40,400
Misc. Invest'ts
130,273
2,143 Misc. accounts_ _
356,242
234,560
Cash
1,675,523
1,332,689 Unmatured int_ 3,113,828
2,460,000
421,602
Agts. & conduc..
528,636 Dividends ___.
3,000,000
1,758,208 Taxes accrued__
Mater. & suPP
454,365
1,003,870
204,618
Traffic.,&c.,bals.
619,011
411,960 Def. credit items
20,896
224,734
1,113.085
Misc. accounts
857,406 Profit and loss__
338,242
a481,870
Unexting. disc.
4,022,585 4,077,120
on bonds
Other def. debit
items
• 1,739,189
1,078,210
Total
S91,715,815 279,027,766
Total
291,715,815 279,027,760
a After deducting $2,700,000 (2.7%) paid In dividends from "net income
to June 30 1910"-see income account above.-V. 94, p. 1185.
Minneapolis St. Paul & Sault Ste. Marie Ry.
(Report.for Fiscal Year ending June 30 1912.)
Pres. E. Pennington, Minneapolis, says in substance:
Results.-Notwithstanding a grain crop much below an average yield,
the gross earnings exceed those of any previous year. The average mileage operated was 3,773 miles, an increase of 49 miles. By reason of Increasing cost of labor and higher cost of supplies, the cost of handling
traffic) continues to advance, while the general tendency to lower rates and
increase taxation makes more difficult the earning of profits sufficient for
reasonable returns to shareholders and for Improvements required.
Execnsions.-During the year the extension from Frederic to Duluth was
completed and traffic between the Twin Cities and Duluth is now being
handled over this new line. The line in North Dakota between Drake and
Fordville (130 miles), construction of which was begun in 1910 and temporarily discontinued, will be ready for traffic about Oct. 1.
New Terminals in Chicago-Chicago Terminal Ry. Co. Bonds.-TO care
for and develop tile business of the Chicago division It was thought advisable to make some new provision for terminals at Chicago. Accordingly
there was incorporated the Central Terminal By. Co. of Illinois with an
authorized capital of $2,000,000, fully subscribed for by your company,
and acquired for this purpose the centrally located tract of land one block
wide on the west side of the Chicago River between Canal and Clinton
streets and extending from 12th St. to West 15th Place. Contracts have
been made for the construction of concrete freight houses thereon, up
to date in every particular. The property Is made available by a contract
with the Baltimore & Ohio Chicago Terminal RR. Co. for the use of that
company's tracks to a connection with this company's Chicago division.
A strip of land one-half blot* wide extending from Canal St. to Halstead
St. has been acquired for the purpose of connection with the Baltimore &
Ohio Chicago Terminal RR. Co.'s tracks and a considerable tract of land
also acquired at 50th St. for yards, &c. It is expected that the improvements of these properties will be completed and ready for use when required.
In order to finance this proposition, your company and the Central Terminal By. Co. executed a joint mortgage covering the property and its
improvements, providing for a possible issue of $20,000,000 of 4% gold
bonds, $6,000,000 of which were sold. The proceeds are sufficient to
complete the terminals as now planned: (see V. 93, p. 1463; V. 94, p. 279).
Other Bonds.-T0 provide funds for building tile Frederic extension to
Duluth, temporary advances for which had been made from the company's
surplus account, there were issued $1,520,000 of our first mtge. consol.
gold bonds (V. 95, p. 544; V. 94, P. 351). There was also issued during
the year $1,020,000 of equipment trust notes in connection with additional
equipment contracted for. [See a subsequent page.)
746
To provide for temporary advances that were made for revision work
on the Chicago division, for payment of car trust obligations and retirement of maturing bonds of underlying mortgages of the Wisconsin Central
Ry. Co.. there were issued and sold during the year $3,500,000 of Wisconsin
Central Ry. Co. "first and refunding mortgage" bonds (V. 94, p. 489).
Outlook.-The increase in gross earnings under the somewhat depreseed
commercial conditions that have existed during the past two years reflects
to
to some extent the growth and development of the country adjacent
the more recently constructed lines. The prospects for an unusually large
grain crop in the Northwest this season are very bright and assures a very
generous volume of business for the current year.
Expenditures Account of Construction and Equipment, Year ending June 30
1912. Total (net) $3,902,087.
$501,862
Fordville-Drake line
Superior ore dock line and
$720,925 Camden Place wheat yard_ 200,402
dock
470,584
__
line
main
to
&c,
Add'ns,
_
_
_
139.152
line_
Lake
Bemidji-Cass
53,581 Equipment, &c., credits
Cuyuna Iron Range line
118.846
(net)
1,934,427
Duluth line
(1) Results for Entire System for Year 1910-11.
Entire System
Chicago
Co.'s Own
1910-11.
1911-12.
Division.
(Soo) Line
$21,972,578
$26,684,241
$9,578,555
$17,105,686
Gross earnings
6,636,883 16,223,291 14,998,338
9,586,408
Operating expenses_
$7,519,278
Net earnings
Inc. from other sources.. 1,058,236
$2,941,672 $10,460,950
1,099.019
40,783
$6,974,240
964,082
$8,577,514
Total income
Fixed chges., taxes, &o_ 4,353,224
$2,982,455 $11,559,069
6,831,030
2,477,806
$7,938,322
6,338,174
$504,649 $4,728,939 $1,600,148
$4,224,200
(2) Results for Minneapolis St. Paul & Sault Ste. Marie.
OPERATIONS, EARNINOS, EXPENSES, &C.
1908-09.
1909-10.
1910-11.
1911-12.
2,360
2,461
2,639
2,741
Average mileage for year
Operations
4,642,635
5,392,739
5,012,786
Tons rev, freight carried 6,200,704
Tons rev. fgt. carr. 1 m_1652831716 1070804319 1341468901 1087193221
0.797 cts. 0.793 cts.
0.815 cts.
Av.rate p. ton p. mile__ 0.722 cts.
$2.81
$3.01
$2.67
$2.85
Fgt. earns per fgt. tr. m..
354.27
378.01
328.24
395.50
Av.tons rev.fgt.tr.per m.
1,778,545
1,958,919
1,846,822
1,930,486
Rev, passengers carried..
140,637,420
Rev. pass. carried 1 mile168,920,156 156,655,913 179,603,207
2.09 cts.
1.97 cts.
2.36 cts.
2.29 cts.
Av.rate per pass. per m.
$1.30
$1.32
$1.14
$1.31
Pass earns, per train m.
$5,229
$6,120.
$4,858
$6,119
Earns, per mile of road_
$
$
$
$
Earnings8,622,168
8,726,608 10,691,434
11,034,792
Freight
2,947,875
3,540,578
3,190,564
3,872,488
Passengers
355,883
345,643
367,337
380,004
Malls
192,183
229,616
266,400
300,609
Express
221,645
252,966
268.279
282.807
Miscellaneous
$16,7/0,700 $12,819,188 $15,060,237 $12,339,755
Total earnings
ExpensesMaintenance of way, &a. $1,697,402 $1,427,664 $1,442,700 $1,262,244
1,364,319
1,568,603
1,817,107
Maintenance of equIp't_ 2,027,240
221,205
284,857
286,770
295,361
Traffic expenses
3,794,085
4,315,753
4,326,936
4,985,876
Transportation
272,754
276,741
336.565
304.4R8
General expenses
$9,342,444 $8,163,165 $7,888,654 $6,914,607
Total expenses
(56.3)
(52.7)
(63.8)
(56.0)
Per eat exp. to earns
5,425,148
7,171,583
4,656,023
7,428,256
Net earnings
86,435
117,274
103.890
91,021
Outside operations (net)
Total net revenue____ $7,519,277 $4,759,913 $7,288,857 $5,511,583
873,094
908,279
839,306
1,123,135
Taxes accrued
Operating income____ $6,396,142 $3,920,607 $6,380,578 $4,638,489
356,299
865,614
913,204
a1,058,236
Other income
$4,994,788
Gross corp. income_ _ _ $7,454,378 $4,833,811 $7,246,192
Deduct$2,507,440 $2,316,864 $2,214,312 $2,144,440
Interest on bonds
79,950
84,075
130,755
152,415
Int. on equipm't notes
leased
WIse.Cent.
Int.on
109,402
443,969
445,716
445,837
line certificates
127..351
103,394
109,049
124,396
Rental of terminals_
588,000
658,560
729,120
805,679
07% div. on preferred
'Dividend on common..(7)1,611.358 (7)1,458,240(6 ;4)1233120 (6)1,008,000
$5,647,125 $5,189,744 $4,737,430 $4.057,143
Total
sur.$1,807,253 df.$355,933sr.$2,508,762 sr.$937,645
Balance
Balance, surplus
[VoL. Lxxxxv.
THE CHRONICLE
I .COME ACCOUNT.
1909-10.
1910-11.
1011-12.
Operating revenuesFreight
Passengers
Mall, express & miscell_
7,109,492
1,829,759
554,045
6,431,268
1,780,925
537,260
Total
ExpensesMaint. of way & structs_
Maint. of equipment _
Traffic expenses
Transportation expenses
General expenses
9,493,296
1,039,114
1,322,065
268,216
3,696,601
214,288
Total
P.C. exp. to earnings__ _
Net operating revenue_ _
Outside oper. (net)_ _ _ _
1908-09.
6,818,992
1,531,411
511,428
5,509,441
1,509,110
475,804
8,749,453
8,861,831
7,494,355
931,916
1,342,077
256,694
3,814,058
191,871
1,073,037
1,171,035
268,441
3,129,047
195,032
850,3661,010,772
282,346
2,705,385
236,638
6,540,284
(68.89)
2,953,012
def11,340
6,536,646
(74.71)
2,212,807
1,520
5,836,592
(65.86)
3,025,230
7,038
5,094,507
(67.98)
2,399,848
5,112
Total net
Taxes
2,941,672
418,781
2,214,327
406,769
3,032,277
366,562
2,404,960
350,627
Operating income_ _
Other income..__
2,522,391
40,783
1,807,558
50,878
2,665,715
55,669
2,054,333
34,467
Total income
DeductInterest on bonds, &e
Hire of equipment
Rentals of terminals__ _
Disc, on bonds
Preferred dividends_ _ _ _
2,563,674
1,858,436
2,721,385
2,088,800
1,593,188
23,072
438,682
4,083
'225,344
1,508,205
150,795
430,715
1,470,631
52,260
361,349
1,250,092
72,050
318,615
'450,688
'650,187
'250,826
2,284,369
sur279,305
2,540,403
def681,967
2,534,427
sur1841058
1,891,583
sur197,217
Total
Balance
each),
* Includes In 1908-09 dividends Nos. 1 and 2 (1%, or $112,672 No. 3,
paid Dec. 1908 and Mch. 1909, and $25,482 on account of dividend3, $86,1%, paid July 1909; and In 1909-10 the remainder of dividend No.each; In
827, No. 4 (1%), $112,672, and Nos. 5 and 6, $225,344 (2%)$225,344
1910-11, Nos. 7 and 8, $225,344 (2% , each; in 1911-12, No. 9,
(2%). These dividends are deducted by the company from the profit and
loss surplus, but are shown as above for the sake of simplicity.
WISCONSIN CENTRAL Ry. BALANCE SHEET JUNE 30.
1911.
1912.
1911.
1912.
$
$
Liabilltie,s$
AssetsRoad and equip_a60,482,719 66,701,170 Common stock _ _17,500,000 17,500,000
Preferred stock_ ..12,500,000 12,500,000
Securs. of pron'y,
38,711,000 35,571,000
155,303 Bonded debt
162,000
&c.,cos__
13,200 Equip. tr. oblig'ns 1,496,903 1,200,849
1,200
Other investments
35,236
4,294
Vouchers
627,443
1,808,988
Cash
507,268
Co's stock in treas. 2,586,400 2,586,128 Int.,divs.,&c.,due. 516,638 1,089,853
12,289 Due "Soo" Line_
415,333
Material
330,016
31,228 Int.'divs.,&c.,accr. 143,607
Accts. & bills rec. 236,267
110,129 Land don't profit
109,852
Advances
129,914
8216,807
loss
and
disc't
Unexting.
3,895
3,811
Def'd cred. items_
on securities _ 572,562
1,364,770 1,485,951
114,09: Profit and loss
82,500
Miscellaneous ___
Total
72,457,830 70,353,982
Total
72,457,830 70,353,982
deducting
a After deducting reserve for accrued depreciation,81,100,108. b After
$739,943 for deferred payments.-V. 03, p. 511. 481.
Buffalo & Susquehanna Railroad and Railway.
(Statementfor Fiscal Year ending June 30 1912.)
Receiver H. I. Miller has favored us with the following:
INCOME ACCO UNT.
Both Roads
Railroad. Railway.
1909-10.
1910-11.
1911-12.
1911-12. 1911-12.
360.89
356.38
356.38
91.09
265.29
$
$
$
$
$
462,028 1,997,912 2,070,182 1,910,787
1,554,377
217,942
210,007
212,512
107,744
104,768
1,209
1,305
1,160
364
796
464
465
486
415
71
16,983
17,010
17,002
5,764
11,238
14,219
14,218
14,634
3,749
10,885
11,026
10,656
13,437
13,437
305
563
403
200
203
13,188
9,738
1,661
1,661
506
1,480
496
496
354
11
343
Avge. miles oper.
RevenueFreight
Passenger
Excess baggage_
Parlor, &c., car_
Mail
Express
Milk (pass. trins)
Other pass. rev
Switching
a Other income in 1912 includes: Dividends on stocks owned, $450,002:
Special
interest,
$336,145;
equipment,
of
hire
$6,057;
owned,
bonds
on
interest
Miscellaneous
discount, rents, &c., $266,032.
Dividends are deducted by the company from profit and loss but are
593,712 2,260,056 2,335,684 2,186,629
Total transin_ 1,684,837
simplicity.
of
sake
the
for
6,011
6,476
shown above
5,021
1,446
3,575
Car service
10,011
30,518
28,172
176
30.
27,996
Rent bidgs., &o_
"SOO LINE" B,ILANCE SHEET JUNE
9,785
1,642
1,343
238
1,104
Miscellaneous
1911.
1912.
1911
1912.
$
Liabilities2,212,437
2,374,320
Assets2,294,592
595,572
Total op. rev.. 1,717,512
20,832,000
Road & equip_a104,170,716 100,584,309 Common stock.. 25,206,800 10,416,000
Oper.Expenses400,034
Preferred stock_ 12,603,400
388,518
442,075
96,774
Securs.of propiy,
Maint. way & struc. 345,301
3,423,020
685,507
subscr.
stk.
Can.
3,876,81''
670,189
84,677,311
cos
&c.,
640,403
affli.,
318,546
321,857
25,844
64,215,000 62,695,000 Maint. of equip_
256,200 Bonds
29,784
23,865
6,039
0th.sec. owned. c765,337
17,826
Traffic
expenses_
870,141
899,790
18,700 Erwin. tr. oblig_ 4,051,000 3,455,000 Transport. exp__
18,700
902,140
272,558
Securs. in treas..
648,075
156,334
95,219
204,819
bal.
&c.,
Traffic,
101,390
170,758
105,454
31,203
Real estate
74,251
General expenses
Mat'l & supplies. 2,767,846 2,493,508 Vouch. & wages. 3,488,714 3,045,697
313,371
458,091
2,520,43'2 Taxes accrued
5.271,256
725,120 2,113,937 2,089,671 2,076,745
Cash
exp_ 1,407,310
op.
Total
1,215,505
1,242,745
due
int.,
&c.,
135,692
284,649
1,140,795
180,655
Agts. & conduc_ 1,315,977
Net oper. rev. 310,202def .129,548
142,804
142,492
346
429
interest accrued
472
471
Wisc. Cent. pref.
118,090 Outside op., del_
378,985
111,455 Miscellaneous
48,000
48,000
111,487
42,800
stock dividend
16,800
26,000
262,3E4 Taxes
241,125
443,561 Oner. reserve_ _ _
573,377
Traffic, &c., bal.
644,088 Other deferred
87,346
236,220
941,817
137,383
Misc. accounts
284,202def.146,810
Oper. Income _
25,726
31,650
credit items
1,329,288
Tri-State Ld. Co 1,395,079
Other Income11,707,346 9,957,911
736,310 Profit and loss
141,495
207,798
101,718
331,460
Spec.dep.for eq.. 1,254,561
equipm't
of
Hire
732
1,089,853
732
732
732
Wisc. Cent. fly_
Joint facll. rents
108
247,000
116
865
258,115
40
Mflw.Term.Ry.
9,267
MIseell. rents..__
301
18,495
14,370
8,301
Other deferred
10,294
Interest
389,779
12,750
450,588
5,250
debit items___
7,500
Miscellaneous _
123,972,167 116,058,851
Total
142,638
223,766
123,972,167 116.058.851
223,811
Total
345,783
27,061
Total other Inc.
229,982
459,986
361,194
198,964
311,263
Gross income__ _
aAfter deducting reserve for accrued depreciation,$1,461,477. b Securities
Deduct
stock,
of affiliated, &c., companies, include In 1912 Wisconsin Central Ry.
Transfer Hire of equipm't 139,742
39,199
39,171
20,508
41,840
$3,661,121; St. Paul Union Depot Co.stock, $103,600; MinnesotaCo.
21,432
stock, Joint facilities._
2,334
1,892
2,660
11,596
Ry. stock, 37,000, and bonds. $55,000; Sault Ste. Marie Bridge Terminal
254
Misc. rents, &o
$50,591;
Central
stock,
958
Co.
42,461
Depot
Union
Marie
Ste.
26,275
Sault
25,000
$500;
1,275
Int. reedy. ctfs.
Ry. stock, $660,000. add bonds. $139,500. c "Other securities owned"
Express Co.
42,491
83,525
70,775
include in 1912 Tri-State Land Co. stock, 325,000; Western
57,104
162,703
Total deducins
187,491
376,461
290,419
stock, $50,000: Cceyr d'Alene & Pend d'Oreille Ry. bonds, $25,200, and Net income
141,860
148,560
Wisconsin Central Ry. eauipment contract, 3665.137.
(and of the combined
The operating expenses of the railroad company
Note.-The company has also the fclowing contingent liabilities: (1)
of
paid
on
account
$33,900
bonds on prop- roads) for the year ending June 30 1912 include
Jointly with Central Terminal Py. of lila Is of $6,000,000
line certificates, issued in damages by Austin flood.
erty of that company; (2) $11,148,700 4% leased held
In
as
above
$1,717,512,
company,
therefor.
The gross earnings of the railroad
exchange for Wisconsin Central preferred stock
1911-12, compare with $1,805,170 in 1911-12; net, after taxes, $284,202,
against $354,274. The gross earnings of the railway company, $595,572,
(3) Results for Wisconsin Central Ry. (Chicago Division).
compare with $580,528, and the operating deficit, after taxes,$146,819,
OPERATIONS, EARNINGS, EXPENSES, &C.
with 3118,055.-V. 95, p. 361.
1908-09.
1909-10.
1910-11.
1911-12.
1,078
976
1,086
1,091
Average miles operated
New York Ontario & Western Railway.
Operations5,747,003
4,735,885
5,589,903
5,842,231
Total tons carried
for. Fiscal Year ending June 30 1912.)
(Report
1051730355
835,885,906
Tons carried one mlle_1061557528 991,681,168
0.659 cts.
0.648 cts.
0.649 cts.
P. Fowler, N.Y., Sept. 3 1912, wrote in brief:
Pres.
Thomas
Av. rate per ton per mile 0.670 cts.
354.01
288.19
339.82
445.73
Av.rev, tons per tr. mile
Results.-The loss of coal tonnage duo to disasters at collieries, referred
$2.29
$1.89
$2.20
$2.98
Earns. per fgt. train mile
year 1911-12 until
1,671,727
1,592,870 to last year, continued during the first halt of the fiscalThe complete shut1.777.920
No. passengers carried_ 1,826,658
the properties were restored to working condition. ceased work
No. pass carried 1 mile_100,124,362 99,278,532 86,654,429 87,452,600
pending
the
when
miners
May,
and
of
ADM
all
in
down
mines
1.72 cts.
1.76 eta.
1.79 eta.
Av. earns, per pass p. m. 1.82 cts.
of revenue for those
$1.11 settlement of wage disputes, shut off our main source
$1.03
1 .01
,̀1 '")1
Av.earns. n. pass ty
the same proportion as
In
expenses
reduce
to
Impossible
It
•
was
months.
•
•
$7,745
$8,285
•
$8,058
$8.700
Gross earnings per mile.. •
SEPT. 21 1912]
THE CHRONICLE
747
BALANCE SHEET JUNE 30.
rebuilding of bridges and other
the reduction of tonnage, and, owing to the
1912.
1911.
1911.
1912.
in the year, and tile retirement of
structures necessarily undertaken early
.
maintenance
In
increase
considerable
Assetsunserviceable freight cars,therc was a
of the year was, therefore, Road & equip't__a82,613,017 82,064,200 Common stock_ ....58,113,083 58,113,983
operations
the
of
result
financial
net
The
.
4,000
4,000
Preferred stock_ _ _
as to the management, being Securities of prodisappointing to the stockholders as well stock.
Mortgage bonds_ _26,650,000 26,650,000
prietary, at
equivalent to less than 1% on the common
1,400,000 1,800,000
the Public Servie.) ComGold notes
to
application
&
control'd
made
had
company
Bonds.-The
038,000
mortgage }And], with
companies ____b10,002,472 10,415,007 1,quip. trust notes 856,000
mission for authority to issue $2,171,000 general
408,809
105,011 Loans & bills pay_ 1,571,563
capital expenditures made twice No- Misc. invest'ts_(see c below)
which to reimburse the company forcompletion
77,646
70.482
progressing Adv. to other cos_
balances
work
['raffia
061
40
certain
of
061
40
the
for
provide
vember 1910, and to
1,085,740
and
571,507
year
the
wages
&
of
Vouchers
close
the
at
940.851
pending
was
Cash
311,318
under contract, which application
189,653
required
214,080
The proceeds of tile bonds were
Traffic balances _ _ 845,586 1,035,306 •)perating reserves
has not yet been passed upon. debt
76,801
22,902
10,346 Oth.def.cred.items
incurred on account of tile improve- Loans & bills rec_ _
10,324
mainly to discharge the floating
43,531, Matured int., div.
the authorization is given.
108,365
Agents & cond'rs_
ments made, and will be so applied when
60,951
59,248
n of all rates Material & supplies 852,244 1,053,618
& rents unpaid_
an
investigatio
year
the
of
close
the
before
-Shortly
Rates.
by the Inter-State Commerce Other work. assets 985,855
862,81, Int., diva. & rents
on anthracite coal on all lines was ordered as
322,029 1,487,462
accrued
22,31,
to the tariffs.
22,751
Def. debit items
Commission, which occasioned uncertainty
it unwise
Profit and loss_ _ _ _c5,929,599 5,646,142
deemed
board
your
conditions,
these
all
-Under
Dividends.
•
stock.
common
the
upon
t
to make any dividend disbursemen
95,791,993 96,599,187
condition and in
Tot al
Total
95,791.993 (16.5 11.1,
Physical Condition.-The property Is In good physicalthan has yet been
a After deducting reserve for accrued depreciation (equipment), $742,541.
shape to carry efficiently a much larger volume of traffic
include in
cona
companies
for
controlled
needed
and
be
will
S Securities of proprietary, affiliated
offered. Less expenditure for road improvements
equipped with 1912 pledged stocks, $1,895,000, and funded debt, $4,000,000; also unsiderable period to come. The shops, lately enlarged and
s,
make
miscellaneou
and
to
$3,570,000,
adequate
debt,
stocks,
funded
now
pledged
are
$417,138;
cost,
modern machinery at a very considerable
saving in *120,334.
general repairs to motive power, and have already shown great
shops.
of Peek property,
outside
royalty
on
at
for
sub-lease
After
made
deducting
c
$104,152
be
to
had
before
which
repairs,
of
such
the cost
this and the formerly carried In misc, investments, and $85,910 for misc. adjustments
A comparatively heavy expenditure will be necessary duringlarge
numbers (net).-V. 95, p. 481, 358,
in
succeeding year or two in replacing coal cars which, boughttime
since, as the
to
time
from
and
branch,
at the opening of the Scranton
as
numbers
and
tonnage increased, demand renewal at about like intervals
Interborough-Metropolitan Co., New York.
constructhe original lots bought, and with a heavier and more expensive
(Report for Fiscal Year ending June 30 1912.)
tion to meet modern requirements.
ent Canfield.
Condensed Data from Report of General Superintend
Pres. Theo. P. Shonts, New York, Sept. 3, wrote in subst.:
and the net earnings
The gross earnings decreased $767,758 or 8.26%,
Reorganization of Metropolitan Street Ry. Co.-Interest in New York Railafter deducting
surplus,
The
(after taxes) decreased $732,417, or 29.34%.
$1,142,ways Co.-On Nov. 28 1911 your company decided to participate in the
the previous year
of
fixed charges, rentals, &c. was $473,729, and in
plan (V. 93, p. 1533) formulated by the joint bondholders' committee
bonds
936, a decrease of $669,20i, or 58.5%.
pasthrough
or
the Metropolitan Street By. Co. "general and collateral mtge." 5%
2.4:3%,and
was
Local passenger earnings increased $34,422,
Co.
Railways
York
the
New
or 13.09%. Local freight earnings de- and refunding mtge. 4% bonds, whereby
senger receipts decreased $27,130,through
State,
freight earnings decreased $16,- incorporated Dec. 29 1911, under the Stock Corporation Law of N. Y.
creased $52,989, or 4.75%, while
and took possession of the property and franchises which formerly belonged
872, or 1.95%.
a to the Street fly. Co. The securities Issued by the new company and the
$3,843,962,
of
coal
on
was
the
transportati
from
received
revenue
The
year. amounts thereof acquired by or on account of your company, by virtue of
decrease of $753,240, or 16.38%, as compared with the preceding
coal, were its participation in the plan, are the following:
The total shipments from the Scranton division, Including supply
supNow Held
excluding
and
Issued.
Acquired.
10.98%;
407,365,or
of
a
decrease
tons,
gross
3,296,879
Securities of N. Y. Rys. Co.$17,500,000 $15,256,743 $15,256,743
• ply coal were 3,164,730 gross tons,a decrease of 356,123 tons, or 10.12%. Stock
None
4,358,364
16,299,168
bonds......
M.4%
The coal tonnage trans-shipped to vessels over our docks shows:
ref.
&
est.
real
First
None
1911.
1912.
2,616,006
income_ 30,629,177
183,991 Adjustment M.5%
77,915
participation required a cash contribution by your comTo the Lakes, via Oswego
foregoing
The
1,838,851 2,060,136 pany of $6,367,259. In order to avoid the necessity of borrowing so large
• To tidewater, via Cornwall and Weehawken.
The sum expended for maintenance of way and structures during the a sum in cash, the first mtge. and adjustment bonds were disposed of in
year was $1,266,413, an increase of $178,621. This increase is shown in • connection with the financial arrangement, thus reducing the net amount
Items of ties, rails, roadway and bridges, and Is dne to a higher standard required to be borrowed by your company, as aforesaid, to $1,817,000
of maintenance made necessary by the increasing weight of equipment. (V. 93, p. 1532: V. 94, p. 207).
Three steel bridges of an aggregate length of 785 ft. were rebuilt for heavier
The New York Railways Co. possesses a valuable property of great earnand
franloading; One viaduct of 510 ft. was replaced with a conccrte structure
ing possibilities, embracing all the equities in perpetual street railway
rights, ownership of considerable valuable real estate and long-term
embankment in connection with the second track construction on Scranton
chise
wooden leasehold
of eleven important street railway companies. The
privileges
Div.; five steel bridges of an aggregate length of 507 ft., in place of
of
95,
six months' operation of the new company exhibits (see report, V.and
and lighter bridges were built, and 14 openings of an aggregate length
t of first
revenue,
142 ft. were filled on Northern Div. The rebuilding and improvemen
p. 676) a gratifying growth from month to month in gross
charge
demonbe
better
e
necessarily
will
which
maintenanc
cost,
or
expense
operating
an
of
kind
in
bridges Incurred for replacement
some economies
strated by a full year period of operation. It is expected, also, that the
of about $115,000 for the year.
June 30 contemplated re-arrangement of terminals and the release of costly property
Number and Aggregate Length (in Feet) ofBridge and Trestle Structure
not required for operating purposes, together with the adoption of the new,
-----1911
1912---1- Improved type of surface cars and the ultimate payment into the treasury
t(11.)
No. Length (ft.) No. Length (ft.) No.Le1n8g9h
14,706
of the company, as the principal creditor of the Metropolitan or New York
8994
29,301
242
28,500
Steel or iron bridges_ _241
5,008 City receiverships, of a considerable portion of the large funds, aggregating
48
2
48
2
Wooden bridges
23,881
now in the hands of the Court, will contribute largely to the in124
$7,000,000,
5,477
41
5,477
41
Wooden trestles
(V.95, p. 677).
to main track. creased net revenues of the company
About 32 miles of 85-lb. rail have been used in repairs
prethe
in
than
more
being 61,046
NEW YORK RYS. CO. OPERATIONS FOR 6 MONTHS OF 1612
' There were used In repairs 252,517 tics,cts.
(000 OMITTED).
ceding year, at an average price of 63
$155,981,
The balance against this company for the hire of equipment was
Jan. Feb. Mch. Apr. May. June.
a decrease of 5120,647 from that of the preceding year.
$987 $1,081 $1,116 $1,173 $1,142
ion_$1,037
transportat
from
the main line Revenue
41
42
41
The extensions of second track from Carbondale north toOlyphant,
44
44
46
9.02 Other street ry. oper. rev_ _ _ _
• at Cadosia, 37.34 miles, and from Mayfield Yard south to
breaker
Johnson
$1,183
$1,215
' miles, covering the junctions with the Riverside and
$1,157
*1,125
$1,031
oper_$1,083
St.
By.
Tot,rev.from
of sec810
787
• mine branches, have beer completed. There are now 47.21 miles
768
801
753
796
large Oper. exp. and taxes
ond track on the Scranton Div. in use, and 2.50 miles, including the
• bridges and viaducts which cross the valleys at Carbondale and Cadosia,
$428
$373
$389
$324
$278
$287
Income from Street By__
35
• in process of construction.
32
33
31
32
32
Non-oper. Income
OPERATIONS AND FISCAL RESULTS.
$408
$460
$422
$319 $310 $355
Gross income
1908-09.
1909-10.
1910-11.
1911-12.
June 30 1912 the
546
566
566
'Interborough Rapid Transit Co.-For the year ended V.
566
Miles operated June 30..
95, p. 614, 677)
Transit Co. (see report,
Rapid
the
of
revenue
oper.
gross
Operationsthe payment
After
$1,479,040.
of
increase
2,065,411
an
,
2,148,972
amounted to $31,246,392
2,201,062
Pass. carried, No
2,199,664
from the
received
of the $900,000
86,175,680 86,227,166 85.364,944 80,592,224 of all charges, the net income (exclusive
• Pass. carried 1 mile
n Co.)
Constructio
Subway
Transit
Rapid
cts.
the
1.869
of
stock
the
capital
on
cts.
dividend
1.865
1.886 cts.
Rate per pass, per mile_ 1.896 cts.
comthe
of
stock
capital
the
upon
5,731,588 was $5,623,766, equivalent to 18.07%
5,680,781
6,620,741
• Freight carried (tons) _ 5,944,499
must be
pany, as against 14.68% the previous year. From this amount
Fr't (tons) car'd 1 mile_863,683,142 070,773,368 837,672,900 820,957,230
operations
from
surplus
net
a
leaving
10%,
cts.
of
0.787
dividend
regular
the
cts.
deducted
0.794
0.754 cts.
0.758 cts.
Rate per ton per mile
267 of the year of $2,123,766. The total number of passengers carried was
270
296
292
Avge. train-load (tons) _
$2.10 607,244,697, an increase of 29,090,609. Owing to the lengthening of the
$15$2,1.6174
$2.23
Earn, per frt. train mile
,
$0.9940
$1.0498
51.0558
station platforms and the Inauguration of 10-car train service, the capacity
1
.026
20
.8
51$
Earn, per pass. tr. mile_
$15,187 of the subway was considerably increased, so that the increase in the num$16,435
$15,077
Gross earnings per mile_
growth of travel following
the
natural
represents
carried
passengers
ber
of
DETAILED FREIGHT 7'RAFFIC RECEIPTS (Incl. Milk on Pass. Trains). improved accommodations.
$851,152
$898,697
$864,829
$847,960
Through freight rev.. __ _
1,012,456
INCOME AND DISBURSEMENTS.
1,088,443
1,114,819
Local freight revenue.... 1,061,820
734,115
766,153
-Years end. June 30- Yr.end.Dec.
749,855
709,084
Milk revenue
3,875,583
31 1910.
1911.
3,903,739
1912.
4,597,202
3,843,962
Coal revenue
ReceiptsR.
Div. on 339,128 shares of Interb.
INCOME ACCOUNT.
•(16%)$5,426,048(9)$3052,152(9)33052,152
stock
Co.
T.
1008-09.
1909-10.
1910-11.
118,325
1911-12.
324,293
327,783
EarningsInt. on bank bals., loans, advs., &c....
$1,633,911 $1,626,619 $1,592,250 $1,506,586 Reduction In capital stock tax paid to
Passenger
6,465,999
6,649,635
7,318,954
90,766
6,545,777
Freight
1908
in
State
N.
Y.
191,706
209,831
215,027
215,679
Mail and express
125,879
127,067
135,102
132,577
• 311scellaneoua
55,753,831 $3,376,445 $3,261,243
Total receipts
Disbursements$8,527,044 59,295,702 $8,578,783 $8,200,170 Int. on $67,825,000 Interb.-Met.4%%
Total
Operating Expenses$3,052,125 $3,052,125 $3,052,125
trust bonds
collateral
$114,263
•
$139,244
$125,563
92,426
$132,470
Traffic expenses
83,528
94,996
3,053,847 Expense account
3,191,409
3,613,220
24,776
Trar x )ortation expenses 3,366,317
32,692
29,873
1,380,387 Taxes
1,316,046
1,494,634
1,533,195
Maint. of equipment_
400,901
451,530
loans
and
notes
on
Int.
920,196
1,034,454
1,087,791
1,286,413
Malnt. of way, &c
by
canceled
fly.
C.
Y.
N.
against
174,408 Claim
200,994
210,411
210,147
36,405
General expenses
agreements of June 1910
6,508,541 $6,531,619 $5,882,147 $5,643,101
Total
$3,205,733
$3,569,246
53,628,524
ts
Total disbursemen
(68.07)
(68.56)
(70.26)
(76.32)
Per cent exp. to earns_ _
sur.$2,125,307 def.$192,801 sur.$55,510
$2,019,403 $2,764,088 $2,696,636 $2,647,069 Balance
Net earnings
-36,321
43,842
52,610
33,411
Outside oper., deficit
paid Oct. 2 1911 out of the earn$339,128,
* Includes extra div. of 1%,
ending June 30 1911.
Total net revenue_ _ _ $1,985,992 $2,711,473 $2,652,794 $2,610,748 lugs for the year
189,160
211,693
214,900
221,926
BALANCE SHEET.
Taxes accrued
J'ne 30 '12. Dec. 31 '10. Dec. 31 '09.
$
$
Operating income__ $1,764,066 $2,496,483 $2,441,100 $2,421,588
$
Assets16,094
12,567
16,414
17,584
Rentals received
cost_104,563,042 104,563,042 104,583,042
at
stock
Co.
Tran.
Rap.
Interb.
390,750
412,317
367,729
345,333
68,684,455
Interest, &c..
68,684,455
cost
at
stock
Co.
By.
St.
n
Metropolita
70,512,140
stock at cost
• Gross corp. Income_ __ $2,126,983 $2,880,626 $2,844,417 $2,849,998 N. Y. Railways
cost 28,329,695 28,329,695 28,329,695
Metropolitan Securs. Co.stock at3-yr.
by
• Disbursementssecured
loans
$51,357
$65,579
$58,259 Met. Sec. Co.
$72,764
Rentals paid
5% improv. notes, stocks 8:, bonds
1,030,881
960,420
957,920
1,107,453
8,281,204
5,124,469
5,704,883
Inrerest on bonds
of subsidiary cos. as collateral
142,496
152,877
152,056
129,675
Other interest
Advanced agst. the 25% unpaid sub222,105
255,302
187,381
251,943
7,348,000
Sec. Co.... 7,348,000
Met.
Rentals
of
stock
to
scription
111,985
276,629
83,372
155,981
36,773
38,773
38,773
Hire of equipment
Metrop. Securities Co.stock, full paid
8,902
6,902
fixtures
6,902
$1,653,254 $1,737,690 $1,531,620 $1,506,871 Office furniture and
Totals
(additional
suspense
in
Engineering
$473,729 $1,142,936 $1,312,797 $1,343,127
100,152
150,152
Balance
250,152
subways)
210
210
210
210
Div...on pref. stock
364,677
1,162,118
1,162,126
1,162,112 Cos. coll. tr. 4 ;is for sink.fund
1,099,882
,Div. on corn, stock (2%)
870,242
1,205,908
Cash and accounts receivable
$210 $1,162,386 $1,162,328 $1,162,322
211,102,105
.
215,113,730
218,322,172
Total
5
• $473,$19 det.$19,400 sur.$150,469 eur.$180,80
Balance for year
748
Lia5ilitiesCommon stock
Preferred stock
Collateral trust 4% bonds
Notes payable
Accounts payable
Interest account
Income account
Total
THE CHRONICLE
J'ne 30 '12. Dec. 31 '10.
$
$
93,262,192 93,262,192
45,740,000 45,740,000
67,825,000 67,825,000
(17,856,520
6,549,400
4,710
180,288
826,942
763,031
2,806,807
793,818
Dec. 31 '00.
$
03,262,192
45,740,000
87,825,000
2,749,400
24,173
763,031
738,308
218,322,172 215,113,730 211,1(2,105
a Includes $2,039,520 6% registered notes, dated Jan. 1 1912; $4,000,000
5-yatr 6% notes, dated July 1 1910, and $1,817,000 2-yr.6% secured notes,
datel Dec. 22 1911. V. 94, p. 1695.
Lake Superior Corporation, Toronto.
(Report for Fiscal Year ending June 30 1912.)
Pres. T. J. Drummond, Sault Ste. Marie, Ont., Aug. 1912,
wrote in substance:
Results.-We have pleasure in reporting increased earnings, notwithstanding the fact that new construction 13 not yet completed and that
operations have been greatly interfered with in consequence. The volume
of business has been maintained,and in view of this and of the satisfactory
prospects, your directors feel warranted in paying interest on income bonds
for the year at the rate of 5%.
Steel Plant.-The steel compz ny's mills from continuous operation show:
Annual Output1910-11.
1911-12.
Pig iron
170,359 tons 258,979 tons
Steel rails
208,283 "
241,729 "
Merchant mill material
39,466 "
The production of pig Von and steel rails was the largest yet attained.
The new blast furnace, as well as the coke ovens, are producing in accordance with expectations. It Is expected that all construction work
now on hand will be • o npleted before winter.
The Lake Superior P.A.Der Co.-The result of th s company's operation was
satisfactory and the sale of power continues to increase. The Lake
Superior Paper Co.(V. 92, p. 798) has commenced operating under its contract and It is c- pscted that the earnings of the power plant will, in consequence, be increased.
Helen Mine.-The output of the Helen Mine for the year was 166,362 tons,
the entire cuantity being reserved for Steel Company's operations.
Algoma cc:OW & Hudson Bay fly. Co.-Again we report increased earnings for the year. On account of the scarcity of labor, the extensions
previous;y 1 dicated were not completed at June 30, but the Hawk LakeIlobon secti ,n has just been inspected by the Government and it is expected
will te passed for immediate operation. The main line from Mile 68 to
Hawk Lake Junction will also be completed this year. Of this only a small
mileage remains to be ballasted, the steel being completely laid. Extensions to tne north of the Canadian Pacific By. are proceeding rapidly and
It is expected that connection will be made with the Canadian Northern
(50 miles north of the Canadian Pacific) before winter. This connection will
be of very decisive benefit to the company, as the Canadian Northern By.Co.
has intimated its intention of taking in its rails and supplies via the Algoma
Central. (Compare V. 91, p. 93; V. 92, p. 1635; V. 94, p. 415, 1382.)
Algoma Eastern By. Co.-With the exception of the swing bridge at
Little Current, the building of this railway through Crean Hill to
Current, will be completed this year and the subsidies and land grantsLittle
duly
earned. The results as compared with the previous year show an increase;
but full benefit from this railway cannot be derived until the dock facilities
are installed at Little Current. The completion of the Algoma Eastern
By. will enable the vast district which this railway serves to have facilities
for shipping by water. The importance of these to such as the nickel and
paper industries n the district cannot be over-estimated. (Compare
V. 93, p. 227, 795; V. 94, P 1382.)
International Transit Co.-Reports very satisfactory progress, the net
earnings showing an increase of 75%.
Trans St. Mary's Traction Co.-Also shows improved results and these
are likely to continue, in view of increased industrial activity.
Tagona Water & Light Co.-Shows increasing results in both its electric
lighting and water departments. With the development of Sault Ste.
Marie, Steelton and adjoining districts, prospects are good.
General.-DurIng the year a very important financial readjustment took
place. The Algoma Steel Corporation, Ltd. (previously Lake Saperior
Iron & Steel Co., Ltd.) took over the plant, properties and busines: of the
Algoma Steel Co., Ltd., the Lake Superior Power Co., the Algo.na Commercial Co., Ltd., together with the full interests of Fiborne Limestone
Co., and the control of Cannelton Coal & Coke Co. Short-term notes of
the Steel Companies have, under the new consolidation, been entirely repaid. [See V. 94, p. 1569; also see V. 94, p. 1697 for official statement in
connection with the offering of "first and refunding" mortgage 5% 50-year
sinking fund gold bonds of the Algoma Steel Corporation, guaranteed p. & I.
by the Lake Superior Corporation. Bonds dated 1912, due April 1 1962,
being part of $13,500,000 (£2,774,000) issued and outstanding out of a
total authorized issue of $30,000,000 (£6,164,300).-Ed .]
On account of the increasing demands for steel rails, the old blooming
and rail mills are being replaced with larger and more modern plants. The
new construction yet to be completed consists of the installation of turbines for the development of surplus power, the 350-ton melting furnace,
which is almost finished, the new iron works buildings, which will be occupied
and fully equipped next month, and other work of a minor nature, all of
which will, as stated, be completed before winter. The Magpie mine plant
has been Installed and will, it is expected, be in operation in October. Your
directors expect to show continued progressive results.
OPERATIONS OF SUBSIDIARY COS.FOR YEAR END.JUNE 30 1912.
Surplus for the year from the operations of all of the subsidiary
companies, subject to depreciation and other charges
$1,579,378
Add earnings brought forward from last year, incl. earns. of
Lake Superior Iron & Steel Co. Ltd., now released from sinking fund by refunding of notes
223,226
$1,802,604
76,334
Deduct interest paid to bank in respect of advances
$1,726,270
Deduct Charges, Dividends, &c.,Paid by Subsidiary CompaniesInterest on bonds of the Algoma Central & Hudson Bay By.,
Algoma Eastern By., Lake Superior him & Steel Co., Ltd.,
(now Algoma Steel Corp., Ltd.),Cannelton Coal 6: Coke Co.,
and other subsidiaries
$578,308
Amounts set aside for redemption of capital of the Helen mine,
s!niting fund payments and sundry renewals, &c
191,262
Reserved for doubtful debts and for losses of previous years_ _ _ _
15,505
Paid to the Lake Superior Corp by subsidiary cos. as interest on
bonds, notes, &c., and as dividends
695,976
Total
Balance reserved for extensions and improvements
$1,481,051
$245,219
INCOME FOR FISCAL YEAR ENDING JUNE 30.
1911-12.
1910-11.
1909-10.
1008-09.
Int. and div. on securities of subsidiary cos_
$695,976
$429.140
$564,719
a$501,424
Other Income
•
189.430
124,449
113,506
65,087
Total
$618,570
$820,425
$678,225
$566,512
Int. on bonds and notes
and general expenses_
653,007
532.592
622,852
543,516
Bal.,credit prof.& loss $167.418
$85,978
$55,373
322.996
Balance preceding years
$4,346
$522.178
33.368
$409,182
Sundry debits & credits_
48,343
Total
$171,764
$89.346
5625,894
Transferred to ros've Id _
521.764
510,000
ReserVed for deprec'n,
value, of investments_
5547,525
Int. on income bonds_ _(5%1150,000 (234)75,000 (234)75,000
Tot. Bur. as per bal. sh.
• 5-4,846
• • • 53,868 -
$522.178
[VOL. Lxxxxv.
BALANCE SHEET JUNE 30.
1912.
1911.
1912.
AssetsLiabilities•
Invest. & se:ur. of
Capital stock
40,000,003
supsidiary cos_ _48,627,348 47,575,196 First mtge. bond.3.. 5,800,009
Real estate
194,509
3-year 6% notes_ _
Cash for coupons_
29,425
20,038 Income bond 3- - - - 3,000,000
Due Irons sub. cos_ 841,653 5,607,033 Bank, &c.,advan_ 589,000
Cash
86,465
13als. due sub. cos_ 312,857
Discount on 1st 31
Accrued interest..
32,483
bonds sold
201,800 Coupons due (con.)
29,425
Office furniture &
Inc. bd. int. pay__
150,009
fixtures
2,792 Reserve account__ 468,559
3,246
Depot. with StandSuspense account
1,940
ard 'Trust Co__
604,510
Miscellaneous ____
6.575
Miscellaneous ____
9,326
3,140 Profit and loss_
Accr. int. on Algoma St. Corp. bds. 24,167
1911.
$
40,000,000
5,800,000
2,500,00(3
,000,00(3
1,145,944
61,667
20,033
75,000
507,525.
295,164
3,375,
4,346
Total
50.420,842 53.413.05 ,
Total
50.490,842 63,413,059
The company had (as of June 30 1012) contingent liabilities
guaranty of principal and interest of $10,080,000 Algoma Centralondo its
Hudson
Bar fly., $2,500,000 Algoma Eastern Ry. and $13,500,000 Algoma
Steel
Corp. bonds.-V. 95, p. 114.
Westinghouse Air Brake Co., Pittsburgh, Pa.
(Report for Fiscal Year ending July 31 1912.)
Pres. George Westinghouse, Pittsburgh, Sept 11 1912,
wrote in substance:
Results.-Net sales totaled 59,977,236, as compared with $8,036,193
last year, with net earnings from all sources of $3,889,073, an increase of
$854,842, or 22%. As usual, liberal charges have been made to cover depreciation, development work, patents purchased, uncollectible accounts
and other adjustments, leaving a net profit of 53,676,161, which,
added
to the balance carried forward July 31 1911, made a total surplus of $10.731,155. Out of this surplus the company paid during the year cash dividends aggregating 20%, and on July 10 1912 a stock dividend of 33 1-3%,
caving balance July 311912. 53,398,214, as shown (V. 04, p. 1191).
New Stock.-Previous to the declaration of the stock dividend,the shareholders authorized the increase of the capital stick from
to
$20,000,000, of which there remains unissued $1,676,733 $14,000,000
after the payment of the stock dividend referred to above (V. 04, p. 1191).
The Equitable Trust Co., 37 Wall St., N. Y. City, has been designated.
as transfer agent in addition to the Union Trust Co. of Pittsburgh. Application has been made to list the stock on the N. V. Exchange
thought that all necessary formalities will be completed by Oct. 1.and it is
Balance Sheet.-Larger sales and more active business are
for the increase in accounts and bills receivable, likewise for the responsible.
decrease in,
factory stores. Changes in investments are reflected under that item.
Betterments to the Wilmerding plant and property made during the year
have been charged off as depreciation, leaving ledger balances at the
samefigures as shown in the last report.
Subsidiary and Associated Companies.-During the year these for the
most part have shown gratifying increases in gross and net earnings.
Canadian Westinghouse Co. paid cash dividends aggregating 8% onThe.
Its
outstanding capital stock of $4,376,600, and passed to surplus and reserve
tweount $524,231, representing 12% additional. The Westinghouse Brake.
Co., Ltd , of London, also reports largest net earnings for some years,
namely /84,942. out of which the usual dividends (20%) have been paid.
Decision-General License.-During the year the U. S.Court for the
of N. J. handed down an important decision in one of the several Dist.
suits
for infringement brought against the New York Air Brake Co., sustaining'
your company's patent covering the "quick service freight brake." As the
result of this decision the New York Air Brake Co. sought and after careful consideration the Westinghouse Air Brake Co. granted the New York
company a general license under our United States patents upon terms and
conditions satisfactory to your management, and by which your interests.
are fully safeguarded. The determining factor in concluding this arrangement was the benefit that will accrue to our patrons, the railroads,
to.
the traveling public from the establishment of uniform standards ofand
brake.
apparatus (V.94, p. 212, 987).
The decision referred to was rendered by the U. S. District Court In,
favor of the Westinghouse Co., sustaining its patent for the"K" triple
valve,
or "quick service," brake, which is deemed essential for the successful
operation of air brakes on long freight trains. According to newspaper
ments, the license covers all the patents of the Westinghouse Co., sostatethat
the New York Co. will hereafter be able to supply Westinghouse standard
apparatus, each company being free to make any type of air brake apparatus.
under patents owned by either company. The license agreement, it is.
stated, does not affect prices or territory, each company remaining free and
independent in these respects as heretofore -Ed .1
Dividend Policy.-Following the long-established policy of the company,
It is the purpose of the board to pass to its surplus and reserve
in prosperous years a substantial percentage of net earninge for accounts
the continued betterment of tile company's properties, the extension of its activities when expedient and for the payment of dividends in years when,
earnings are insufficient therefor. Past experience indicates that in years
of normal business an average annual distribution of $2,500,000 to
000 may be reasonably anticipated. On the present capitalization $3,000,of
323,000, dividends aggregating 16% require $2,031,680. In view of$18,the
volume of current business, which Is extremely satisfactory,
board.
has this day declared a regular quarterly dividend of 2% andthe
an
extra
dividend of 2%, both payable Oct. 15 to stockholders of record Sept.
20.
(V. 95, P. 685).
INCOME ACCOUNT.
1911-12.
1910-11.
1909-10.
1908-01).
Sales for year
$9,977,236 $8,036,193 $12,463,005 $5,286,023
Net earnings, all sources
(incl. profit on sales). 3,889,073
3,034,231
4,653,102
2,039,273,
Depreciation, &c
212,912
161,667
429,824
118,716.
Net income
Dividends
Rate of dividend
Balance,surplus
$3,676,161
02,749,508
(20%)
$926,653
$2,872,564 $4,223,278
$2,749,430 $2,749,267
(20%)
(20%)
$123,134
$1,920,557
$1,374,481
(10%)
$1,474,011
$546,07e.
a There was also deducted from accumulated surplus a stock dividend et'
33 1-3%, calling for $4,583,333, paid July 10 1012.
BALANCE SHEET JULY 31,
1912.
1912.
1911.
1911,
AssetsLiabilitiesS.
$
3
Cash on hand.... 2,722,773 2,511,079 Capital stock
18,323,267 14,000,000.
Accts. & bills rec. 4,140,263 2,885,812 Accounts payable_ 431,147
328,197
Invests.. incl. stk.
Def. liability acct_*1,131,508 *1,140,512
in assoc'd cos__ 8,250,708 8,634,275 Depreciation res've
Patents
fund
2,000,000 2,000,000
800,000
800,000
Wilmerding plant_ 2.500,000 2,500,000 Pension fund
140,093
134,075.
Beal estate
1,840,000 1,840,000 Surplus fund
x3,398,215 7,054,894
Factory stores, including material 2,770,486 3,087,112
Total
24,224,230 23,458,278
Total
24,224,210 23,158,278
* Deferred liability account includes time deposits of associated companies.
After deducting stock dividend paid July 10 1912, $4,583,333 (33 1-3%).
-V. 95, p. 685.
GENERAL XNVESTME.NT
RAILROADS, INCLUDING ELECTRIC ROADS.
Algoma Central & Hudson Bay Ry.-Construction.---
See Lake Superior Corp. under "Annual Reports" above.-V.94, p. 1382.
3522 178
Algoma Eastern
Ry.-7-Progress of Construction.-
See Lake Superior Corp. under "Annual Reports" above.--V.94, is.
1382
TIIE CHRONICLE
SEPT. 21 19121
749
American (Electric) Railways, Philadelphia.-Report of tension to that port from Palmer, Mass., being expected
Holding Company.-The statement for the fiscal year ending to be completed.
The two large steamers to be used for this service are now under construcJune 30 shows total receipts of the subsidiary companies tion
at Wilmington. Del. Compare V.94, p. 1695, 910.
$4,894,307, against $4,635,165 in 1910-11. The results for
Chicago
& Alton RR.-Bond Issue Approved.follows:
as
are
Railways
the American
The stockholders on Sept. 20 authorized an issue of $20,000,000 20-year
Receipts.
Year$864,375
1911-12
810,414
1910-11
693,678
1909-10
-V.94, p. 1382.
Expenses.
$23,325
17,520
15,175
Bond Int.
$377,750
370,400
325,209
Dfv.(6%).
$392,289
381,787
342,073
Surplus.
$71,011
40,701
11,221
• • •
general mortgage 6% bonds (V. PC p. 1565, 1695.)-V.95, p. 480, 361.
Chicago & Eastern Illinois RR.-Equipment Trusts.Kuhn, Loeb & Co., New York, have purchased and have resold to investors $3,310,000 5% equipment certificates, maBartlesville (Okla.) Interurban Ry.-Sold to Doherty & Co. turing in semi-annual Installments (probably of $165,000
This company's road and lighting plant have been sold to H. L. Doherty
& Co. A press dispatch says that the shareholders receive from the sale and $166,000 alternately) from Mch. 1 1913 to Sept. 1 1922,
an amount exceeding by 25% what they paid for their stock. Compare but subject to redemption at 101% on any interest date
V. 93.
795.
upon 601days' notice.
These certificates represent 90% of the cost of new equipment, as follows:
Birmingham Ensley & Bessemer (Electric) RR.-New
3,000 50-ton steel frame general service cars; 20 ste-l-under..o.n,e caboose
by
financed
being
is
which
company,
-This
Enterprise.
cars and 25 Mikadetype freight locomotives. Coupon certi I
es of $1,000
Morris Brothers of Philadelphia, has opened the first divi- each of the Commercial Trust Co. of Phila., trustee, with o' 1-ge of regisuction for
tration. P. & 1. (M. & S.) payable inold coin without
sion of its line, extending from Ensley to the terminal sta- taxes.
.
Par $1,000 each.-V.95, p. 110.
tion in Birminghatn. "Birmingham Ledger" Sept. 7 said:
Chicago
Cos.'
Stock.Elevated Rys.-Divs on Controlled
The road was built by McArthur Brothers of New York and 85-lb. steel
The dividends of
of
on the Metropolitan Elevated By. pref. stock
rails were used; ballast 18 Inches. Standard gauge and capable of supportng any weight of cars. The power to operate the line Is furnished by and 1 ;i% on South Side Elevated Ry. stock, both payable Sept. 30, com0 and 13i%, reTennessee Coal Iron & RR.from Its plant at Ensley. Within three months pare with 2% and 2 %, respectively, in June and 1 .57
the operation of the line will be extended on the esat to East Lake through spectively, In Feb.1912. No declaration has been made, however, on the
Avondale and Woodiawn, and early in 1913 cars will be running over the Northwestern Elevated pref. stock, 2% having been disbursed in Feb. last.
-V.95, p. 110, 47.
line from Bessemer to East Lake, a distance of 23 miles.
The entire line from Bessemer to East Lake will have cost about $2,000,Chicago & Western Indiana RR.-Notes Sold.-J. P. Mor000 to Construct. It will run through Possum Valley, Ensley, Birmingalmost gan & Co. have taken the $10,000,000 3-year 5% noses
ham, Avondale, Woodlawn and East Lake, coming in touch with
industrial
the
greatest
half the population of Greater Birmingham and
Vice- dated Sept. 2 1915, issued for the acquisition of the property
section of tile district. The local officials are J. M. Dewberry,George
of the Chicago Union Transfer Co. and the enlargement of
Pres. and director, and Forney Johnston, attorney and director.
I. Brown is Can. Man. [Pres., J. H.Morris, See.,P.S.Briggs,both of Phila.] Chicago terminals. (See "Chronicle" of Mch. 30, page 910,
While this is a distinct corporation, Morris Brothers of Philadalphia, and
Aug. 17, page 419). This note issue is secured by the
who have financed it and own a majority of the stock, also own the Tuscaloosa Belt Line By. (which it is stated will be electrified within a few mtge. under which $200,000,000 of 50-year bonds are authBirmingham
between
way
of
rights
valuable
secured
have
months) and
and Tuscaloosa on one end and between Gadsden and Birmingham on the orized, the mortgage providing that the first $10,000,000
other. This would appear to foreshadow that in the not distant future should be the notes now issued. (See V. 95, p. 419. The
there will be a connection with the BirminghamEnsley & Bessemer Elec- operating company, known as the Belt Railway Co. leases
tric line between 131rmingharn and Tuscaloosa with other far-reaching
the terminal properties from the Chicago & Western Indiana
projects still in contemplation.
(In July the Birmingham Ensley & Bessemer RR. Co., then described for 50 years at a rental equal to the interest on the bonds.
as a subsidiary of the Tidewater RR. Co., projected from Gadsden to
Tuscaloosa. filed notice of an increase in capital stock from $3,000 to -V. 95, p. 419, 361.
$4,500,000, the common stock to be $3,000,000 and the pref. $1,500,000,
Cleveland (Electric) Ry.-Stock Authorized.and made a mortgage to the Equitable Tr. Co. of N. Y., as trustee, to seThe 01110 P. S. Commission on Sept. 16 authorized the company to issue
cure an issue of $3,500,000 5% bonds dated Mch. 1 1911 and due Mch. 1
$3,014,920 additional stock, which is offered to stockholders at par. Com1941, par $100, $500 and $1,000. Int. M. & S.-Ed.1
pare V. 05, p. 980. 236.
Boston & Maine ER.-New Bonds and Stock.-The shareholders will vote Oct. 9 on authorizing the issue of $10,663,700 common stock and $7,500,000 bonds, as follows:
Coal & Coke Ry.-Report.-For year ending June 30:
Net
Other Int. &
Bal.,
Net
Gross
Inc. Taxes.
Surp.
Earnings. Ry.Dept. Coal Dept.
$1,117,959 437,972 def.$11,191 $0.809 $360,586 $76,004
(a) An issue of 106,637 new shares of common stock for payment of money 1911-12
27,735
840 328,148 38,084
borrowed for purchase of capital stock of Worcester Nashua d: Rochester 1910-11
657
'
753 337
'
RR. Co., Maine Central RR. Co., Boston & Lowell RR. Co. and Concord -V. 93, p. 1185.042
Mass.
of
Acts
of
194
Chapter
of
provisions
Under
& Montreal RR., acquired
Danville (Va.) Traction & Power Co.-Sale of Bonds.of 1898, and for other necessary and lawful purposes. And to determine
& Sons, Baltimore, Md., are placing at
the price at which, conformably to law, the stockholders shall be entitled Alexander Brown
stock.
old
of
holdings
their
of
90 and int., yielding nearly 59%, $400,000 1st M. 5% gold
to subscribe therefor, and in what proportion
(b) Not exceeding $7,500,000 par value bonds for the purpose of making bonds, due July 1 1941, but redeemable at 107 and int. on
additions to the equipment, for abolishing grade crossings and for making
permanent improvements to road, for funding floating debt and paying any interest date upon 60 days' published notice. Maryland
and refunding 1st mtge. bonds of the Worcester Nashua & Rochester RR. Trust Co., trustee. Interest J. & J. A circular reports
Co.of the par value of $511,000, maturing Jan. 11913. [The Boston "News
Bureau" understands that approximately $6,500,000 of the bond proceeds capitalization, &c., as follows:
$400,000
will be used for the purchase of new equipment, including approximately First mortgage 5% bonds, all issued and offered herein
6,000 freight cars of various types, 100 passenger coaches and 80 loco- Pref. stock, 7% cumulative, all issued and receiving full dive_ _ _ _ 200000
•
motlycs.-Ed.1-V. 95, p. 478.
200,000
Common stock, authorized $300.000, issued
Earnings for Calendar Years 1911 and 1910 and First 6 Mos. of 1512.
Boston & Worcester Electric Companies.-Report.6 Mos. 1912. Year 1911. Year 1910.
$109,690
Gross revenue
$60,921
$117,075
Boston & Worcester Electric Companies.
;52,329
Interest, Dividends Balance, Net income (after oper.exp.and
Net
Total
June 30
In 1911 the company earnedtaxes)57,7
nearly three times the interest 420,000)
Paid.
Surplus.
&c.
Income. Earnings.
Yearthe
to
only
on
bonds,
not
above
the
sufficient
pay
total
of
or
the
amount
$605
$67,872
$1,113
-$69,5901911-12
2,555 interest and full dividends upon the pref. stock, but to leave a balance equal
None
17,684
20,2391910-11
to over 11% on the common stock. No dividends, however, were paid on
Roston & Worcester Street Railway.
the common stock. The bonds are secured by a first and closed mortgage
$17,744 on
$68,969
$619,923 $258,485 $171,772
1011-12
all the property of the company, which owns and operates the entire
94,467 system
None
165,365
259,832
1910-11
615,687
of street railways of Danville, Va. Practically all of the stock is
-V. 93, p. 1667.
owned by citizens of Danville.
Danville is situated on the main line of the Southern By., is the second
Brooklyn & North River RR.-Application Denied.largest manufacturing city in Virginia and the largest loose leaf and largest
The P. 6. COM/116:410.
2o, uy a divided vote,denied the appli- bright leaf tobacco market in the world. The largest cotton mills in the
cation for approval of a temporary permit Issued by the Commissioner of South are located there, employing about 4,500 operatives. From 1900
Bridges to operate cars across the Manhattan Bridge, between Flatbush to 1910 its population increased 16%, the value of its manufactured prodAve., Brooklyn, and the North River, Mannhattan. The refusal is based ucts 75%, its bank deposits 90%. annual sales of its jobbing trade 216%.
on the opinion of counsel that the permit granted by the Commissioner of
Expert James F. Heyward reports: "The safety and value of the bonds
Bridges is null and void, so far as authority to operate over the bridge 1- as an investment are, in my opinion, beyond question. The bonds mature
concerned, and that the oending application to the Board of Estimate for on July. 1 1941; the franchi.e runs to Jan. 1 1950. The population served
efore the P. S. Commissioners can approve is probably 25.000. The distribution of population and topography of the
a franchise must be ,
the same.-V.95, p 418. 235.
city are particularly conducive to large earnings for a minimum of service.
The gross earnings per car mile are unusually large; July 1912 being 35.15e.
Buffalo Rochester & Pittsburgh Ry.-Bonds Offered.- The city has large manufacturing plants and many industries to insure employment for its citizens. The control and management insure careful,
Wm. A. Read & Co., N. Y., Boston, Chicago and London, intelligent
and efficient management. Compare V. 95, p. 480.
isecarlFy
are Vacing at a price to yield 43%,$500,000 consol. mtge.
Denver Northwestern & Pacific Ry.-Reorganization.4M 0 gold bonds due May 1 1957. Outstanding, $6,689,- The
plan of reorganization provides for a new 30-year first M.,
000; authorized, $35,000,000. The bankers say:
authorized for $35,000,000, 5% bonds, the old mtge. to be
foreclosed. The $3,500,000 Denver Ry. Securities Co. 6%
notes are to be exchanged at par for these new bonds at 85
and int. the $2 940,000 of the old first mtge. bonds unpledged
are to receive 50% in the new bonds and 20% in income
adjustment bonds. The incomes will be authorized for
$2,000,000. All the new bonds to be given in exchange for
old securities will be for four years, graded as to the interest. Mr. Newman Erb agrees to take at 85 a sufficient
amount of the new firsts to produce $1,132,000 cash.
Bondholders' Protective Committee.-The following comCedar Rapids & Iowa City Ry. & Lt. Co.-New Name,dce.
mittee has been formed to protect the interests of the first M.
See Iowa Railway & Light Co. below.-V.89, p. 1541.
4% bonds, of which $10,940,000 are outstanding, of which
Central Terminal Ry., Chicago.-Status-Bonds.See Minneapolis St. Paul & Sault Ste. Marie under "Annual Reports" the Denver Railway Securities Co. owns $8,000,000, subject
anoVe.-V. 93, p• 1385.
to the lien of the 6% Colorado-Utah Construction Co.:
A. J. Hemphill. Presideot uuarauLy rust Co., Henry M. 1Ilackmer,
Central RR. of New Jersoy.-Earnings.President of the International Trust Co. of Denver, and D. Baldwin, of
It., Conn. and
A .egai Investment for savings uanks and trust.L.nd In
and ?mitt. and listed on N. I'. Stock Eachank.,e.
Me.; tax-excmpt hi .
e
ultlYnateiv
11.1
•iv:1
°cured
by the hr•
lien
e
bye
m
dl
Secured
lien upon the entire property. The first mortgage lien at present covers
70 miles of railway,the company's five-story office building in Rochester,
terminal and other lands at Buffalo, Rochester and other points, and valuable equipment; also the company's one-half interest in the $500,000 capital
stook of the Lake Ontario Ferry Co., Ltd., which operates a car ferry across
Lake Ontario connecting with Grand Trunk By.,(which owns the other half
interest), and has paid dividends of at least 5% in each year since 1907.
The $0,997,000 prior lien issues all mature by 1939, and cannot be increased
or extended. The annual reports show the accrued interest on this issue
earned consideraoly sver 8 ti,nei In each sear -Mee the execution of tile
mortgage in 1907. Compare V. 05, p. 357, 361, 365.
Net
Gross
Other
Fixed
Divs.
Balance,
June 30 Earnings, Earnings. Income. Charges. (12%)
Surplus.
$
Yearm1.42_27,828,690 10,543,107 2,200,128 6,734,163 3,292,410 2,716,656
1010-11_27,626,877 10,869,831 2,270,890 5,998,620 3,292,416 3,855,685
From the.balance as above wait appropriated $2,000,000 for.additions
and betterments in 1911-12, against $3,000,000 in 1910-11, leaving a surplus of $716,656 in 1911-12, against $855,585.-17. 95, p. 679.
the Empire Trust Co., New York. Deposits are requested with the International Trust Co., Denver, or the Guaranty Trust Co. of New York, in
exchange for Certificates. The Denver Railway Securities Co. will, It is
announced, comply with the request, and large Eastern holders will also
deposit at once.
Central Vermont Ry.-Steamship Line to be Operated May 1.
-The company, it is announced, will on May 1 next beign
the operation of a daily freight and passenger steamboat line
between New York and Providence, the Grand Trunk ex-
The equipment will consist 01 30u au-dtee, coat cars, 100 steel underframe box cars, 25 stock ears, 12 cabooses and 6 refrigerator care, and will
be paid for partly from the proceeds of the sale of the $300,000 receiver's
certificates to be authorized and with equipment trust notes which have
not vet been authorized. Later 10 locomotive,, to cost about $200,000,
will be ordered and likewise paid for by equipt. trusts.-V. 95,-p. 670, 544
•
Equipment Orders.-The company has it is stated, ar'$500,000.
ranged to order equipment to cost about
750
THE CHRONICLE
Fitchburg RR.--New Bonds.-The stockholders will vote
on Sept. 25 on authorizing $450,000 bonds to provide means
to pay for additions and improvements.-V. 94, p. 68.
Gary (Ind.) & Interurban Ry.-Reported Financing.Newspaper advices report that the company has arranged to
float in London a loan for $4,000,000 to extend its lines.
The main line of the Gary & Inter rban, which at present runs from
-Gary and the steel works to Indiana Harbor and Whiting is, it is stated,
to be extended to South Chicago, making direct connection with the
-South Chicago traction lines, and the present Valparaiso line is to be
extended south and east in Indiana. The Gary ec Interurban system
also includes the Gary Connecting Railways and the Valparaiso & Northern By. The Gary Connecting Railways connect at Goodrum with the
Goshen South Bend ec Chicago By. When the contemplated plans are completed direct trolley connection will be given Central Indiana towns
and cities with Chicago.-V.91, p. 1385.
Grand Trunk Pacific Ry.-New Directors.-Sir Felix
Schuster and Sir Henry White, who are directors of the
_London board of the Grand Trunk, and take their turn on
the Grand Trunk-Pacific board.
Track-laying on the main line to the Pacific Coast has, it is stated,
_reached 1,100 miles west of Winnipeg, while track-laying from the Pacific
Coast easterly has reached, 176 miles, leaving a section of only about 460
miles to be constructed.-V.94, p. 911.
Houston Belt & Terminal Ry.-Application to Issue
Bonds.-The company has applied to the Texas RR. Commissioners for authority to issue and register $218,000 additional bonds, making a total of $5,000,000, the limit of
the mortgage.-V. 93, p. 796.
Iowa Railway & Light Co., Cedar Rapids, Ia.-Merger-Bonds Offered.-Harris, Forbes & Co. N. Y., Harris Trust
& S. B., Chicago (the trustee), and N. W. Harris & Co., Inc.,
Boston, are offering at 97 and interest by advertisement
on another page the unsold portion of the present issue of
$1,687,000"first and refunding mortgage" 20-year 5% gold
bonds dated Aug. 30 1912 and due Sept. 11932, but redeemable at 103 and int. on and after Sept. 11915. Int. M. & S.
in N. Y. or Chicago. Par $500 and $1,000 (0').
Digest of Statement by Pres. William G. Dows,Cedar Rapds, la., Sept. 14.
This company (formerly Cedar Rapida & Iowa City By. & Light Co.) has
recently acquired a number of successful public utility companies in Central
Iowa and now owns and operates the properties in successful operation for
many years, some since the early eighties, formerly owned by:
Cedar Rapids & Iowa City By. & Lt. Marion Light, Heat & Power Co.
Co.(V. 77, p. 2279).
(V. 79, p. 273).
Marshalltown Light, Power & By. Perry Elec. Lt., Pow. .3: Htg. Co.
Co
Tama & Toledo Ry. Co.
woone Electric Co.
Tama & Toledo Elec. Power Co.
To provide for the rapidly increasing demand for current for lighting and
power purposes, and for needed entensions and enlargements to its street
and interurban railway system, the company has authorized an issue of
$10,000,000 "first and refunding mortgage" 20-year 5% gold bonds.
CapitalizationAuthorized. Outstand'g.
Preferred stock 7% cumulative
$3,000,000 $1,000,000
Common stock
3,000,000
1,700,000
First and refunding 5s
10,000,000
1,687,000
Reserved to retire $1,313,000 Cedar Rapids & Iowa
City By. & Lt. Co. 5s due in 1923
(V. 77, p. 2279)
1,313,000
[Funds are reserved out of the present issue of bonds for the retirement
forthwith of $513,000 bonds secured upon the recently acquired properties.
No additional bonds of the Cedar Rapids & Iowa City By. & Lt. Co. can be
issued except as additional security to the "first and refunding" 55.
Upon retirement forthwith of the bonds for which cash has been reserved,
the new bonds are, in tile opinion of counsel, secured by (a) Direct first
mortgage on all property formerly owned by the old companies named
above, other than the Cedar Rapids ec Iowa City Ry. ec Lt. Co., to the extent of the purchase price paid out of the proceeds of these bonds, and (b):
by direct mortgage on all other property, subject only to the *1,313,000
1st M. 5s due in 1923, which are a first lien on the electric light, power and
beating property in Cedar Rapids and the interurban railway to Iowa City.
Application of the Authorized Issue of $10,000,000 Bonds.
Now issued to reimburse the company for part of cost of acquiring certain of its properties and for extensions and additions_ _$1,687,000
Reserved to retire the underlying first 5s due in 1923
1,313,000
Reserved: (1) For not to exceed 80% of the cash cost of future
permanent extensions and additions; (2) under careful restrictions for acquiring other public utility corporations in this
territory, or (3) for retirement or acquisition of bonds or other
evidences of debt of corporations which have been acquired 7,000,000
Bonds of this $7,000,000 can be issued only in case the annual net earnings are 1
times the annual interest charge, including tile controlled companies, and also bonds applied for.
The company is required to deposit annually in cash in a special trust
fund, 1916 to 1921,1%: 1922 to 1926 2%,and 1927 to 1931 3%, of the tottl
amount of bonds outstanding (including underlying bonds), as a sinking
fund for the redemption of bonds of this issue or for permanent extensions
and additions for which no bonds will be issued.
Properties.-Owns and operates, without competition, the electric light
and power properties in Cedar Rapids, Marshalltown, Marion, Boone,
Perry, Tama and Toledo; a high-grade Interurban electric railroad, 27 3%
miles in length, between Cedar Rapids and Iowa City; the local street railways in Marshalltown, Boone, Tama and Toledo; the gas plant in Marshalltown and the heating properties in Cedar Rapids, Boone, Marion and Perry.
The interurban railroad is constructed by modern steam railroad standards
on private right-of-way, substantially 100 ft. In width, and has excellent
terminal facilities for both passenger and freight service in Cedar Rapids and
Iowa City. We are extending this line east to Mount Vernon, 15 miles,
and the work is being pushed rapidly.
Franchises have been secured in a number of adjacent towns, and the
company is extending its transmission lines to acquire this new business.
The territory served is about 150 miles in length and 25 miles in width,
and it is our intention to connect all properties, distributing the current from
the large central stations. A new 4,500 h. p. turbo-generator is now being
• lastalied in the Cedar Rapids station Increasing our total installed generating capacity to approximately 15,000 h.p.
Earnings for Year ended July 31 1912 (for One Small Property Partly Est.).
$877,896 Present interest charge_ _ _ _$150,000
Gross earnings
$317,444 Balance
$167,444
Net after taxes
Territory Served.-One of the best agricultural sections in the United
States for corn, oats, wheat, barley, rye, hogs, cattle and dairy products,
and serving eight cities having a combined population estimated to exceed
85,000, and with many manufacturing industries, extensive railway shops,
&c. The franchise situation in the various towns is unusually satisfactory.
On the basis of the investment in the property by the present owners,
there is an equity over and above the bonds now offered of between $1,500,000 and $2,000,000.
IV The company is owned and operated by local capitalists, who give it their
personal attention, being unntr the same management which has so successfully developed the Cedar Rapids & Iowa City Ry. ec Lt. Co.-V.89, p.1541.
pt. Kansas City Ry. & Light Co.-See page 752.
e Lehigh Valley Transit Co., Allentown, Pa.-Bonds.Nelson, Cook & Co., Balt., are placing at 913/i and int.
$100,000 ref. and impt. M. 50-year 5% gold bonds.
% Extracts from Letter of Pres. R. P. Stevens, Allentown, Sept. 10 1912,
Issued Capitalization.
$3,000,000
Pref. stock, (paid 2% in divs. during past 12 mos.)
*3,000,000
• Common stock
5,311,000
First M. 4s and 55, $4,957,000, and cons. M. 4s, $354,000
4,088,000
Refunding &impt. 55 (Incl. $209,000 in treasury)
Through the deposit with the trustees of all the bonds and stocks of the
Montgomery Traction Co., these bonds now become practically a first
•
[VoL. Lxxxxv.
mortgage on the 14 miles of track, extending from Lansdale to Norristown,
which will form part of the new high-speed line to Philadelphia.
The company now owns and controls 160 miles of electric railway and
stocks of several electric light and power companies. Direct physical connection is made with important electric railways, including a line to Easton
and a new through route to the Delaware Water Gap and Stroudsburg, in
part of which this company has an interest. The company recently acquired the Montgomery Traction Co., giving it entrance into Norristown.
At Norristown connection will be made with the Phila. & Western By. and
entrance obtained into Philadelphia over the tracks of that company at the
Union Terminal at 69th and Market sVeets, the terminus of the Market
Street Elev. RR. of the Phila. Rapid Transit Co. This will permit operation of an entirely new high-speed service for through business between
Allentown and Philadelphia, and the company has been making numerous
important cut-offs and improvements to be in,readiness for the inauguration
of the fast service this year.
The reconstruction of the Montgomery Traction Co.'s line will be completed and througn cars put in operation Oct. 1912, cutting down the time
between Allentown and Philadelphia (City Hall) from 45i to 2 M hours.
The average time of steam road express trains between these points is
about 2 hours. The fare via the electric line will be at least 50c. less each
way, and a substantial increase In traffic seems assured to the company
with the inauguration of the new service.
Substantial progress has been made in improvement of the entire property. A new power-house with sub-stations and transmission lines, costing
more than $1,250,000, was erected at Allentown. This is equipped with
modern steam turbines with a maximum capacity of 18,325 k. w. The
travel on the company's lines is g)od at all times of the year, and new
business is developing rapidly. Tne company owns 182 cars.
The ample power equipment, which was increased more than 50% in
1911, has placed it in position to develop the lighting and power business
on a more extensive scale. New light and power companies were organized
last year for Washington, Whitehall, North Whitehall, South Whitehall,
Hanover and Salisbury townships, and current will be supplied to numerous
localities and to companies already operating. Within the past few months
the company has organized subsidiaries and obtained franchises for the
towns of Richlandtown and Trumbauersville, and has purchased all tile
outstanding stock of a competing electric company of South Bethlehem.
The Lehigh Valley Transit Co. has now no electric-lighting competition in
any of the localities served by its light and railway subsidiary companies.
A contract has just been let and work started on a new reinforced concrete
toll-bridge connecting two wards in Allentown and within a short distance
of the main street. This bridge is being erected by the Allentown Bridge
Co., all I the capital stock of which is owned by the Lehigh Valley Transit
Co. It is anticipated tha the tolls alone will more than pay the interest on
the cost and the maintenance of the bridge. The Transit Co. has the exclusive and perpetual right to operate its cars over this bridge, which will
not only open up a large new territory to local lines, but materially cut
the running time of the new Allentown-Philadelphia service.
Earnings for 12 Mos.ending June 30 1912 and Fiscal Years ended Nov. 30.
1911-12.
1910-11.
1909-10. 1908-09. 1007-08.
Passenger receipts_ _$1,209,916 $1,141,138 $1,042,969 $956,888 $910,574
Net from ry. oper___ $579,939 $548,680 $480,623 408,717 $349,334
Misc. & sale of power 213,572
190,343
159,851 114,574 125,399
Net income
$793,531
Int., rents, taxes,&a. 481,618
$739,023
454,584
$640,476 $523,291 $474,733
437,133 421,603 420,784
Balance, surplus__
Other income
$284,439
10,237
$203,343 $101,689
6,857
$311,913
13,232
$53,949
2,653
Total surplus_
$325,145 $294,676 $210,200 *101,689 $56,602
[Earnings for 1911
- 112 inserted from bankers' circular.-Ed.1-V.95,p.47.
Little Miami RR.-New Bond Issue.-The shareholders
will vote Sept. 30 on authorizing a "general mortgage" of
$10,000,000 bearing interest not to exceed 4%, with a first
lien, it is understood, on the entire property, to be issuable:
(a) $1,070,000, dated Nov. 2 1912, payable Nov. 2 1962, to bear
Interest at 4% per annum, and to be issued to take up a like amount of 5%
bonds maturing Nov.2 1912 (the only underlying bonds-Ed.);(b) the balance to be issued by the board of directors from time to time to pay for
betterments when approved.-V. 86, p. 857.
Marshalltown Light, Power & Ry.-Merger.See Iowa Railway & Light Co. above.
Massachusetts Electric Companies.-Earns. of Op. Cos.
June 30.
Gross
YearEarnings
1911-12
$9,116,202
1910-11
8,881,521
-V.95, p. 618.
Net .
Earnings.
$3,309,792
3,324,217
Fixed
Charges.
$1,840,329
1,838,579
Dividends Balance
Surplus.
Paid.
$1,077,681 $391,782
1,169,090
316,548
Minneapolis St. Paul & Sault Ste. Marie Ry.-Report.See "Annual Reports" on a preceding page of this issue.
Equipment Gold Notes 4 2s.-Wm. A. Read & Co., New
have placed privately
York, Boston, Chicago and
41A% $1,000 equip. gold
London,
an issue of the railway's $1,020,000
notes, series D, dated June 1 1912 and due $51,000 semi-ann.
from Dec. 1 1912 to June 11922, both incl. Interest J. & D.
at agency of Bank of Montreal in N. Y. City.
These notes are issued under an artreement of conditional sale between Wm.
A. Read & Co. as vendors, the railway and Central Trust Co (as trustees)
to pay a part cif the purchase mice ($1,278,703, of which $258,703 is paid
in cash) of the following new equipment delivered, or to be delivered, before)
Sept. 30 1912, viz..: Six coaches, 400 steel underframe cars, 350 steel underframe box cars;100.'refrigerator cars, 200 vegetable cars, 5 superheater
consolidation freight locomotives and 4 switching locomotives.-V.95,p.544.
Nevada-California-Oregon Ry.--:-New Director.-
P.R. Dunbar has Peen e.ce.e.1 a. till co,or to succeed A. II. Manning, who
declined to accept a reno-rdtr‘filn -V. 93. p. 726.
New Orleans & Northeastern RR.-Dividend Reduced.An annual dividend of 5% was paid on Sept. 4 on the $6,000,000 stock, comparing with 6M% in Sept. 1911 and
1910.
1904
1905
1903
3
3
3
-V. 95, p. 1188.
Dividend Record (Per Cent).
1009
1908
1907
1906
5
4
5
6
1910
63%
1911
63%
1912
5
Pacific Electric Ry. Co. of Los Angeles.-Bonds.-This
company, controlled by the Southern Pacific Co. (which
owns some $73,950,000 of the $74,000,000 of outstanding
stock), applied on Sept. 11 to the Cal. State RR. Comm. for
permission to sell from time to time, as occasion may arise,
$79,161,000 of the issue of $100,000,000 first refunding bonds
authorized last November (V. 93, p. 1463, 872). Of said
loan, $20,839,000, it is stated, has already been issued, and
the remaining $79,161,000 it is desired to use, when required:
To refund outstanding obligations of the subsidiary lines (a) $5,285,000 to refund obligations of the Los Angeles Interurban
and the Los Angeles & Redondo By. companies; (b) $26,$31,511,000
226,000 to refund all other outstanding obligations
47,650,000
To be used for new connections, impts., extensions, &ct
- St. Joseph & Grand Island Ry.-New Cut-Off.--. See 'Union Pacific RR. below.-V.95, p. 619, 420.
St. Louis & San Francisco RR.-Two-Year 6% Secured
Gold Notes Offered.-William Salomon & Co., New York,
and G. H. Walker & Co. of St. Louis have purchased and
are offering at 100% and int. the total issue of $2,600,000
SEPT. 21 1912]
THE CHRONICLE
751
two-year 6% secured gold notes, a direct obligation of the
company, dated Sept. 3 1912 and due Sept. 1 1914, but redeemable,all or any part, at 101 and int. at any time on sixty
days' notice. Par $1,000 (c*). Int. M. & S. Trustee,
Equitable Trust Co. of N. Y.
Issued in connection N‘itli the purchase of 65 pay-enter cars, to cost not
less than $365,000. Dated May 1 1912, due $30,000 each year May 1 1913
to 1922. Par $1,000. Principal and interest (M. & N.) payable at Union
Trust Co. of San Fr. (the trustee) and at office of E. H. Rollins & Sons,
N. Y. Redeemable at 102 M & int. on any int. date after 60 days' notice.V. 94, p. 632.
Condensed Data from Letter of V.-Pres. C.W.Hillard dated Sept.18 1912.
The notes will be the direct obligations of the company, secured by
pledge of the following securities:
$3,609,046 New Orleans Texas & Mexico RR. Co. 6% notes, due Sept. 1
1914, covering cash advances to that company.
2,000,000 full-paid capital stock, being the entire outstanding stock of
that company.
1,400,000 Kirby Lumber Co. 7% cumulative preferred stock.
Also to be pledged when $1,500,000 of the notes are issued and, in respect of the bonds, when authorized by the Texas RR. Commisison:
$600,000 (approximately) San Benito & Rio Grande Valley By. Co.
1st mtge. 6% bonds, being the entire amount issuable on present mileage.
49,100 par value,full-paid capital stock of the San Benito & Rio Grande
Valley By. Co., being the entire amount issued except directors' shares.
There must also be pledged as further security: (a) All additional stocks
of the New Orleans Texas & Mexico RR. Co. and San Benito & Rio Grande
Valley.
Ry. Co.as issued, and (b) all additional indebtedness of the New Orleans Texas & Mexico RR. Co.except its first mtge. bonds and excepting
Indebtedness against which its 'first mtge. bonds will be issued.
The collateral for these notes will represent control of 1,033 miles of
railroad, practically all main line, being: (1) New Orleans Texas & Mexico
RR., subject only to its 1st M. bonds (now outstanding to amount of
$34,180 per mile), 806 miles; (2) trackage rights aggregating 184 miles, and
(3) San Benito & Rio Grande Valley By. (upon pledge of its securities as
aforesaid), 43 miles. Items 1 and 2 comprise the N. 0. Tex. & Max. Div.,
990 miles, extending from New Orleans via Houston to Brownsville, Tex.,
with maximum grade of only 3-10%. It serves the Gulf Coast country,
which yields a heavy traffic in fruits, garden truck, cotton, sugar, rice and
lumber. The alluvial soil and favorable climate assure the continued development of practically the entire territory, of which less than 20% of
the available area is under cultivation.
N.0. Tex. & Mex. Div. Earnings, Showing Increase of Traffic.
Gross per Mile-Years Ending
Ann.R018
Dec. '09. J'ne '10. Dec. '10. J'ne '11. Dec. '11. J'ne '12. 6 Mo.'12.
$4,919
$3,485
$3,135
$3,834
$3,929
$4,268
$4,757
The increase of 36% in the earnings here shown in the last two years is
expected to continue until this division is earning $7,000 to $8,000 per
mile gross, as are other railroads in similar territory. Gross earnings per
mile in July 1912 were 31% in excess of those in July 1911. Gross earnings of about $5,000 per mile per annum (which rate was substantially
maintained in the six months ended June 30 1912) should be sufficient
under normal operating conditions to take care of interest on the entire
mortgage indebtedness of the division.
The San Benito & Rio Grande Valley By. 43.6 miles, extending north
and south of San Benito, Tex., is completed and in operation. About
22 miles are now under construction north and south of Mission Tex., and
it is proposed to build an extension to connect these two lines. This
property is situated in the richest part of the Rio Grande Valley and is
necessary to take care of its agricultural development.
The Kirby Lumber Co. is one of the largest producers of long leaf yellow
pine lumber in the world. No dividends have been paid on this stock
since 1902, the profits being kept in the business, so that the official statements now show a book value for the preferred stock of about $157 per
share, which is considered conservative.
The San Benito & Rio Grande Valley bonds may be withdrawn from
the trustee upon payment of $950 for each $1,000 bond and the Kirby
Lumber Co. pref. stock on payment of $75 per share, $100 par value, all
moneys thus deposited to be applied to the purchase or redemption of
these notes at not over 101 and int.
The St. Louis & San Francisco RR. Co. as of June 30 1912 had current
assets in excess of current liabilities and the proceeds of these notes are
expected to be sufficient to supply its financial requirements (except for
purchase of equipment) until July 1 1913.-V. 95, p. 680.
June 30.
Gross
Depre- Balance,
Net
Other
Interest,
Year- Earnings. Earnings, Income. Taxes, ea. elation. Surplus
1911-12_$4,558,194 $2,235,290 $69,159 $1,423,202 $100,000 $781,247
1910-11_ _ _ _ 4,336,206 2,069,530 48,296 1,396,943
75,000 643,883
There were carried during the year 1911-12 60,500,584 fare passengers,
928,730 free passengers and 15,906,711 transfers (against 57,821,444, 1,079,109 and 15,922,825, respectively, in 1910-11), making a total of 77,:334,025, against 74,823,378 in 1910-11.-V. 95, p. 112.
Virginia Ry. & Pow. Oo.-Earns, Combined Properties.-
Washington Baltimore & Annapolis Electric Ry.-First
Dividend.-An initial dividend of 13/
9% has been declared
on the $1,460,000 6% non-cum. pref. stock, payable Oct. 1
holders
of
to
record Sept. 24.-V. 94, p. 1051.
West Side Belt RR.-Decree Modified.Judge Orr in the U. S. District Court at Pittsburgh on Sept. 16 entered
a decree modifying that heretofore granted for a sale of the property under
the judgment secured by the Pittsburgh Construction Co. The upset price
is reduced from $1,500,000 to $1,250,000. Compare V. 95, p. 421.
Wisconsin & Michigan Ry.-Denial.Secretary John Marsch denies the truth of the recent rumor that the road
has been sold to the Minneapolis St. Paul & Sault Ste, Marie fly., and that
the formal transfer will take place in a few weeks.-V.94, p. 418.
Wrightsville & Tennille RR.-Earnings.Operarg Net (after Other Fixed Dividends
Juy
neea3r0.
Bal.,
Revenues. Taxes). Income. Charges. (6%). Surplus
1911-12
$348,992 $76,296 $2,784 $25,615 $36,000 $17,465
1910-11
327,112
87,198
1,584
21,275
31,507
36,000
-V.93. p.941.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Acme White Lead & Color Works, Detroit.-Acquisition.
-The increase last December in the 6% pref. stock from
$750,000 to $2,000,000, it appears, was made for the purpose
of obtaining control of the Lincoln Paint & Color Co. of
Dallas, Texas, and the H. R. Tibbets Paint Co. of Los
Angeles and San Diego, Cal.
The pref. stock is callable after 1912 at 110. Common stock,$2,000,000.
Dividend rate of recent years 10% p. a.-V.93, p. 1727.
Allis-Chalmers Co., New York.-Assessment Called.-The
reorganization committee has called for a payment of $4 per
share on pref. stock and $2 per.share on com. stock, deposited
under the plan and agreement of reorganization, such payment to be made to the Central Trust Co. of N. Y., Depositary, 54 Wall St., N. Y. City., on Oct. 16 1912.
The total assessment called for by the plan (V. 94, p. 913) is on the pref.
stock $20 per share, or 20%, and on the common $10 per share, or Ion.
At th c time of the deposit the shareholder was required to pay, of these
amounts, $2 per share on the pref. and $1 on the common, making, ulth the
installments now called, a total of $6 on the pref. and $3 on the common
paid and called, and leaving yet to be called $14 per share on the pref.
and $7 per share on the common.-V.95, p. 50.
Albert Lea (Minn.) Light & Power Co.-See Minnesota
Listed in Paris.-There were admitted to quotation "en Gas & Electric Co. in V. 95, p. 683.-V. 80, p. 713.
American Milling Co., Chicago.-Temporary Injunction.banque" in Paris on Aug. 23 $3,000,000 5% general lien
Federal Court (Eastern District of Virginia) on July 13 decided that
bonds of the French series, par $100, or 516 francs, Nos. theThe
State Dairy and Food Commissioner had exceeded the State's jurisdic420.
680,
64,001 to 67,000, letters A to J.-V.95, p.
tion in declaring that certain of the company's products constituted stock
feed of "little or no food value," while the testimony of well-Informed
Santa'Fe Raton & Eastern RR.-Successor Company.persons was to the contrary. An Interlocutory injunction was issued pendSee New Mexico-Colorado Coal Mining Co. under "Industrials" below.
V. 92, p. 1437.
Sapulpa (Okla.) & Interurban Ry.-Receiver Appointed.
-A receiver has been appointed as the result of the failure
of the Merchants & Planters' Bank.
The company operates from Sapulpa to Kiefer and Glenn Pool, 10.86
miles. Incorporated in Oklahoma July 1907, the road being opened
in March 1908. Stock authorized, $2,000,000; outstanding, $80,500; par,
$25. No bonds. Pres., R. B. Burnett; V.-Pres., J. P.Soliss; Treas., B. C.
Burnett; Sec., Virgil Hicks.
Seaboard Air Line Ry.-New President.-W. J. Harahan,
who recently resigned as Vice-President of the Erie RR. to
become President of the Seaboard, will, it is understood, be
formally elected to his new position at a meeting of the directors to be held in New York next Thursday. Mr. Harahan
will assume his new duties on Oct. 1.-V. 95, p. 545, 361.
Seattle Renton & Southern Ry.-Co-Receiver.-
The State Court recently appointed Joseph Parkin co-receiver to act with
Scott Calhoun, who was named some months ago, but has been in possession only since the removal of the receivers appointed by the Federal
Court. Mr. Parkin is an engineer and was the company's first superintendent, and he will be responsible to the Court for the operation of the
road and its physical condition.
Foreclosure Suit Begun under Mortgage of 1908.-
Augustus H. Peabody, as trustee under the mortgage of 1008, on Sept. 9
brought suit in the Superior Court to foreclose the mortgage. There are
$825,000 bonds outstanding, on which interest was defaulted on May 1 last.
-V.95, p. 545, 49.
South Carolina Light,Power & Ry.-Incorporated.This company was incorporated In Mass. on June 21 with $5,000,000 of
auth. capital stock in $100 shares ($3,500,000 common and $1,500,000
pref.), to take over the property of the Spartanburg (S. C.) By., Gas & Elec.
Co., recently purchased by A. B. Leach & Co., and Ussing, Scoville &
Co. (sec Electric Power & Manufacturing Co. V. 94 p. 1452, and also
presumably other properties. Officers at incorporation: Pres., Herbert
A. Wadlcigh of Winchester; V.-Pres., Daniel W. Merritt of Boston; Sec. &
Treas., Wilbur Tusch of New York. The Spartanburg By.,Gas & El. Co.
at last accounts had outstanding $400,000 stock and $330000 of an issue
of $100,000 5% bonds.
Union Pacific RR.-To Build Cut-Off.-
The cut-off from Hastings, Neb., to Gibbon, 26 miles, shortening the
distance between Denver, Colo., and St. Joseph, Mo. (sec St. Joseph &
Grand Island By. Item, V. 95, p. 619), is, we are informed officially,
being constructed by the Union Pacific. The contractors are just moving
on to the work, and the company does not care fully at this time to make
public its platis.-V. 95, p. 481, 357,
United Light & Railways.-Probable Purchase.-
See Western Utilities Co. below under "Industrials".-V.95, P. 49, 421.
United Railroads of San Francisco.-Year to End June 30.
The fiscal year has been changed so as to end June 30.
Equipment Notes.-The $300,000 6% equipment trust
notes authorized by the Cal. RR. Comm. on Sept. 7 were
•
all sold by E. H. Rollins & Sons a month ago.
ing further order of the Court enjoining the State authorities from treating
the certificates of registration granted Jan. 2 1912 under the statute of
March 4 1910 ("An Act to prevent th manufacture or sale of adulterated,
misbranded, poisonous or deleterious stock and cattle feeds," &c.) as
cancled, revoked or suspended, and from doing any act or taking any step
based on the claim that the commercial foods of the company are not duly
and legally registered in the State of Virginia /or 1912.-V. 94, p. 1628.
Atlas Engine Works, Indianapolis.-Sale Postponed.The receiver's sale has been adjourned from July 29 to Aug. 12 on the
statement of M. L. Thomson, an attorney (who is also attorney for the
Baldwin Locomotive Works of Phila., a heavy creditor), that he represents
interests which will be ready to submit a bid at that time at a higher figure
than that offered by Detroit interests. Mr. Thomson says that a number
of men whose identity is not disclosed are organizing a company to bid on
the plant.
Under the terms of sale, the purchaser must assume a bond Issue of
$1,050,000 secured by mortgage, pay off another bond issue of $105,000,
and also pay receivership costs and mercantile accounts, about $80,000.
Receiver Gardner has completed an inventory and appraisement of the
plant. Cash on hand, accounts, &c., $234,905; buildings, $518,057,
grounds, $117,600; machinery, $351,845 and sprinkling and water system,
$50,000.-V. 95, p. 237, 113.
•
Bishop-Babcock-Becker Co.-Pref. Dividend Omitted.-
This Cleveland company, manufacturers of beer pumps, &g., has decided
to conserve its resources by defering the next quarterly dividend of 154% on
its cum. pref. stock. V.-Pres. J. H. Champ has succeeded as President
K. D. Bishop. who resigned. Compare V. 95, p. 113; V. 92, p. 958.
Blackstone Valley Gas & Elec. Co.-Plan Approved.The stockholders of the Pawtucket Electric Co.. Woonsocket Electric
Machine & Power Co. and Woonsocket Gas Co. on Sept. 16 approved the
plan of merger with the Blackstone company. Compare V. 95, p. 620,
547, 483.
Bush Terminal Co., Brooklyn.-City-Owned System.The committee of the Board of Estimate, composed of John Purroy
Mitchell, President of the Board of Aldermen, Borough President MeAneny, Comptroller Prendergast and Borough President Steers of Brooklyn, on Sept. 19 reported favorably on the proposal to build a great municipal waterfront terminal In South Brooklyn which would include the Bush
docks. The committee recommends that the city acquire a tract in South
Brooklyn to be used for the purpose and that the Bush Company be the
operating contractors, in a manner similar to that under which the Interborough and the Brooklyn Rapid Transit companies will operate the
city's subway system. The cost of the proposed system will, it is stated,
be about $30,000,000.
Dock Commissioner Tomkins submitted a plan for such a terminal and
improvements along the South Brooklyn waterfront. The Board of Estimate set Oct. 3 as the date for action on both the committee's report and
the Commissioner's recommendations. The committee recommends that
In the event of the negotiation of a satisfactory contract, the Bush piers
and marginal strip be acquired by the city by condemnation.
The offer of President Irving T. Bush Is that the Bush company pay the
city 95% of the gross income received from the city-owned piers and retain 5% as its compensation as general manager of the property. The company to covenant in any year that if the 95% of gross receipts shall be less
than interest and sinking fund on the city bonds (5.14%), to make good and
pay to the city the difference between 95% of gross income and the amount
of such interest and sinking fund.
The city is to have the right at any time to withdraw from the operation
of the lease any of the piers so leased and utilize the same as a public pier
and through the Dock Department and the Board of Estimate to have the
75g
THE CIIRONICLE
right from time to time to establish the policy and terms under which the
piers affected by the proposed lease shall be rented to and. utilized by the
commerce of the port.-V.95, p. 546.
California Consolidated Light & Power Co., San Francisco.
company was incorporated in Cal.
July 9 .1911 with $5,000,000 auth. capital stock in $100
shares, the incorporators being C. S. Goodrich, J. T. Pigott,
T. E. Palmer Grover O'Connor and G. R. Ray,and made a
mortgage to,tbe Mercantile Tr. Co. of San Fr., as trustee, to
secure an issue of $5,000,000 30-year 5% bonds. See Northern Electric Ry. in V. 94, p. 279.
Cambria Steel CO.-President Resigns Becauseasofx,Illness.resi,eiit, on
-New Enterprise.-This
n.Jept. lts ten ',Ted hh resignation
,ed by
account of prolonged ll1acs. The Alcial staff will proealy be increa
resi,nathe ad titicm of several operating Vice-President; as a roma of the
tion.--V. 95, p. 421.
Canadian Car & Foundry Co.-Bonds.-The Royal Securities Corp. and Lee, Higginson & CO. have purchased an additional $500,000 1st M.6s of 1909, due 1939 (V. 90, p. 374).Compare V. 93, p. 1531, 1326.
Carbon Steel Co., Pittsburgh.-Stock Reduction-Bonds.-
Nil, %rim e, . i as re Li 31,1 ttle a mi, caplial stock
:.The Sila
1st pref.
from 50,000 shares of $100 each.(of which 30,000 are cm., 5,000
to 15,000 shares of $100 each, all of uniform or common
pref.)
2d
and 15,000
stock, 80 that the authorized capital shall hereafter be $1,500,000 instead
of $5.000,000, and to increase the Indebtedness from $700,000 to $2,000,000,
secured by bonds and mort,rages on the property of the company. Compare V. 91. P. 155; V. 93, p. 1193; V. 94, p. 126.
[VOL. LXXXXV.
Cote Piano Manufacturing. Co., Fall River.-First Pref.
initial quarterly dividend of 1:K% ..has been
declared, payable Oct. 1 1912 on stock .of record Sept.. 19
1912 on the $250,000 7% cum. pref. stock. The Exchange
Trust Co. of Boston is transfer agent.
Cumberland Telephone & _Telegraph Co.--:Control.--
Dividend.-An
See Southern Bell Tel. & Tel. Co. on Pste.684 in last week's "Chronicle."
Decision.-The decision of the U. S. Supreme Court in.the
suit over the rates for service in the city of Louisville, which
was referred to in last week's item (p. 681), N‘as.handed down
on June 7 last and mentioned in the "Chronicle" of June 15
(V. 94, p. 1629).-V. 95, p. 681.
Retired.John R. Davis Lumber Co., Phillips,
Farson, Son Sc Co. announce the retirement of the entire i >sue of $600,000
1st M. Os at 100 and accrued int. Funds arc now on deposit at Chicago Title
& Trust Co., Chicago.-V. 92, p. 61; V. 88, p., 1004.
Evansville (Ind.) Light Co.-Consolidation.See Public Utillties.co. of Evansvile, V. 94; p. 1027.-V. 89, p. 228.
Faultless Rubber Co., Ashland, 0.-Stock Dividend 60%•
The authorized capital stock was recently increased from $325,000 to S1.000,000 (par $100), of which $525,000 is now outstanding, the stockholders having, It is understood, received a stock dividend of 60%. No
bonds. Incorporated In Ohio Dec. 23 1903. Prest., and Treas., T. N.
Miller; Sec., I. L. Miller.
General Baking Co.-Preferred Dividends.-The third regu-
4% has been .declared on the •$5,18.5,000
lar dividend of '1%
7% cumulative preferred stock, payable Oct. 1 to holders of
Carver County Sugar Co.-Successor.-See Minnesota record Sept. 21.-V. 94, p. 211.
General Electric Co.-Debenture Sale.-The company has
Sugar Co. below.-V. 93, p. 1604.
Central Mexico Light & Power Co.-Earnings.-This sub- sold to J. P. Morgan & Co. $10,000,000 of the 5% 'debenture
Co.(which see below,shows: issue authorized in July lastfor $60,000,000-see"Chronicle,"
sidiary of the Guanajuato P.& El.
Earnings for the Twelve Months ending June 30.
July 27; p. 238. The debentures will be dated Sept. 2 and
1911-12. 1910-11.
Deductions1911-12. 1010-11.
interest_ _$108,000 $100,440 mature Sept. 1 1952, interest payable .March and Sept.
Bond
$339,636
_$428,070
earnings__
Gross
12,000 Bankers Trust Co., trustee. They are not convertible but
reserve.: 15,000
Oper.exp.and tax 257,713 207,257 Deprec'n
3,000
6,250
Bad debt reserve_
•
are redeemable at 1073-f and int. on (and after) any interest
132,379
170,357
Net earnings
date.-V.95, p. 621, 422.
21,614
Other income__ 23,668
Total dedue'ns.$129,250 $115,440
(The) Guanajuato Power & Electric Co. (Mexico).-Status.
$38,553
$64,775
snrplus..
Balance',
$153,993
_$194,025
• Total net Inc__
-William P..Bonbright & Co., N. Y., Phila., Boston and
Customers. Total Con'd Load K
Miles Transnen Line
4,931
3,968
327
March 1911_ _ _
London, who offer the securities at the market price (bonds
6,008
5,158
449
March 1912_ _ _
about 8%), report:
outstanding: $1,500,000 common stock, all owned by the yielding about 6.40% and pref. shares
There are
Guanajuato Power & El. Co.: $900,000 6% pref. stock (cum,from Jan. 1913
dated 1910 and
$1,250,000 auth.); $1,800,0001st M.,gold sinking funds Os,
V.00, p. 239, 701.
due Jan. 11940, but callable at 105 ($2,500,000 auth.).
prices by William P.
The bonds and pref. stock are offered at the market
Bonbright & Co., the bonds on about a 6% basis.-V.92, p. 121.
Chesapeake Steamship Co., Baltimore.-1st M. 5s Offered.
-The Mercantile Trust & Deposit Co., Baltimore, has purchased and, it is understood, is offering privately at par and
int., $630,000 "equipment (trust) first mtge. 5% bonds,"
issued in connection with the purchase of two new steamers.
The bankers say in substance:
series of $30,000 each,
Dated Oct. 1 1912, maturing In 21 semi-annual
but redeemable as a whole at any int.
Apr. 1 1914 to Apr. 1 1924, incl.,and
Mere. Tr. & Dep. Co.
Trustee,
int.
102
at
notice
days'
period on 60
equipment trust agreement to proInt. A. & 0. A direct obligation understeamers
of 600 tons freight and 400
new
two
of
purchase
the
for
part
in
vide
passenger capacity, to be built by Maryland Steel Co. at a contract price of
$785,400: furniture, carpets, etc., will cost about $50,000 additional.
Further secured by equity of $456,000 in steamers City of Baltimore and
terminal propCity of Norfolk and by agreement not to mortgage Baltimore
(The last-named steamers cost about
erty during life of present issue. [
1
of
bonds
$480,000
1910,
May
equipment
ago;
year
a
over
little
$840,000 a
($120,000 of the °rt.! sal $600,000 redeemed), less $93,000 cash in sinking
fund; net. $384.000; nalance, $456,000•1
Company is controlled by Atlantic Coast Line RR. and Southern By.
stock and debentures, valued at
through ownership of the entire capital
from Baltimore to Norfolk
over $1,250,000. Operates lines of steamers
without the tWo new steamers,
present,
at
Earnings
and to Richmond.
both issues of equipexceed the interest charges and principal maturities on
ment bonds, which constitute the only mortgage. See also V. 90, p. 1335.
Organized In 1902 In Colorado to operate a hydro-electric plant on tile
Duero River, near Zamora, State of Michoacan, Mex. Controls through
stock ownership the Michoacan Power Co., which has two plants on the
Angulo River, and the Central Mexico Light & Power Co., which owns the
local transmission systems. (See last named co. above): •
Authorized. Outsrding.
CapitalizationPref. stock 6% cum., par $100, divs.(j-F (V.91,p.217)$1,500,000 $1,500,000
3,500,000 3,500,000
Common stock, par $100
1,500,000 1,-125,000
1st M. gold sinking fund 6s (V. 83, p. 40)_
Michoacan Powcr Co. 1st M. gold 6s (V. 85, p. 796)_ 2,000,000 1,800,000
30.
Earnings for Years ending June
na.int.a PI.Div. Balance,
Net
Year ending Gross Expenses oe
Surplus.
Earns. Depr'n Res. (6%).
Maint.
June 30. Earns.
$90,000 $170,134
$208,869
$469,003
$205,205
,208
1911-12____$374
177,1(39
90,000
161,715
428,884
137,083
1910-11._ 565,967
The demand for power has grown so rapidly that the company has had
additional
of
development
the
to
chiefly
resources
to devote its energies and
power and extension of its transmission lines in order to provide for its increasing business.
1911.
1010.
1909.
18,238
14,332
10,080
199°,84'31
Power connecte -11.p. 1907.d 9,180
4,096,0(10
3,515,000
2,836,000
2,573,000
,233,000
Power delivered-k.w.2
See also v.90, p. 1169; V. 91, p. 217; V. 92, p. 1568, 122.
Hawaiian Commercial & Sugar Co.-Merger.-See Makaweli Sugar Co. below.-V. 92, p. 1113.
Heywood Bros. & Wakefield Co.-Changes in Officers.-
Charles Ff. Lang Jr., formerly Treas., was some time ago elected Pres1d3Ilt
to succeed Louis E. Carlton, deceased; Fred L. Butler became Treas., and
Charles A Stone of Stone & Webster, succeeded Mr.Carlton as a director.
-V. 82, p. 1215.
(The) International Nickel Co., New .York.-Dividends
Cleveland-Akron Bag Co.-Stock Dividend, &c.-The Begun--2% on Common Stock.-This.new company (formed
stock was listed on the Cleveland Stock Exchange on Sept.5. per plan in V. 95, p. 239, 682) has declared "a dividend" of
f'Cleveland Leader" says:
2% on its $38,031,565 common stock, payable Dec..2 to
Cleveland-Akron Bag has a common stock Issue of $1,500,000 and
was recently holders of record Nov'. 13; also a quarterly dividend of 1%%
$500,000 preferred. A stock dividend of 33 1-3% or, $500,000,
for $500,000 more on its $8,912,626 6% non-cum. pref. stodk, payable Nov. 1
declared and shareholders will have the right to subscribe
issue $2,500,000, all
at par to retire the preferred. This will make the
issue and con- to holders of record Oct. 14.
new
tile
and
21
Dec.
of
as
accrue
Rights
class.
of the old
of one
version will be completed as of Jan. 1 1913. The common was bid at
130 and offered at 140. The surplus as of Jan. 1 1912 was $1,244,101.
Floating debt was represented by $493,878, of which $400,000 was in
drafts on foreign banks. J. H. McBride is President; G. D. Adams, VicePrest.; H. H. Campbell, Treas., and G. E. Kappler, Secy. These, with
tile board.
H.- H. Gillis, F. E. Hall and Malcolm McBride, compose
• ••••••
. .
V. 95, p. 51.
Colorado Fuel & Iron Co., Denver, Colo.--Earnings.Balance,
Fixed
Other
Net
Gross
June 30.
Surplus.
Income. Charges,&c.
Earnings. Earnings.
Year$24,268,452 $3,772,281 $676,693 $2,647,746 $1,801,228
1011-12
1,259,672
2,890,276
671,599
22,934,685 .3,478,349
1910-11
The yearly dividend of 5% on the $2,000,000 pref. stock which has been
declared payable out of the earnings of the fiscal year in two instlaltnents
Jan. 20 1913 calls for $100,000.-V.
of 23•c% each on July 20 1912 and ••
••• ......
•
•
94, p. 1698.
Extension of Charter.
The stockholders will vote at a special meeting to be held on Oct. 19 on a
proposition to extend the corporate life of the company, which expires on
Oct. 21, for a period of 20 years.
At the regular annual meeting on Oct. 21. it is rumored that the question
dividends
of readjusting the capital and discharging the 70% accumulated
on the pref. stock will be considered. Compare V. 93, p. 1728.
Cohunbia Gas& Electric Co.-Increased Stock ofSubsidiary.
The Union Gas ec Electric Co. of Cincinnati has applied to the Ohio
P. S. Commission for authority to issue $500,000 preferred stock In addition to the $5,000,000 now outstanding.
The Union •Gas & Electric Co., as lessee for the Cincinnati Gas & Electric
lessor securiCo., under the terms of Its lease is required to turn over to the
ties worth at least $3,000,000, to guarantee Its lease. At the time of the
making of the lease there were turned over $3,333,000 of bonds of the
Columbia Gas & Electric Co., which, it Is stated, have depreciated in
value so that they are no longer worth $3,000,000. The Union company
asks permission to exchange the new stock for bonds of the Columbia
Gas & Electric Co. and deposit the bonds wit's the Cincinnati Gas & Electric
• • • • • • • • • • • • •
Co.-V. 95, p. 422, 178. • • • • . • • •
These are the first dividend payments since the exchange of the new
International common stock for 250% in the common stock
$ for $, and the
company, the exchange of the old pref. for new pref.,old
company paid
The
Issue of $•13 % new common at par for cash. 1911,
10 %; 1912. to
6%;
1910,
In
2
,e,
3
1909,
%;
stock:
on its common
and incl. Sept. 3, 173- %. Compare V. 95, p. 240.(-V. 95, p. 682.)
Iola (Kan.) Portland Cement Co.-Mortgage.-The company in December last made a $2,000,000 mortgage to the
Commonwealth Trust Co. of St. Louis, as trustee, the proceeds to be "applied for such purposes as the board of
directors may determine."
The mortgage covers the property of the Iola company, including the
factory in Bassett, a suburb of Iola: the company's dam, quarry, gas leases
and wells, pipe lines, water station, town lots, unplattcd portion of the
town of Bassett,and several tracts of gypsutn lands In.0klahoma, and Is
further secured by deposit of $1,354,000 bonds of the Texas Portland
Cement Co. of Dallas, Tex. The Texas plant was built from surplus earnings of the Iola company and when the Texas company took over the mills
It issued bonds to the Iola company.
Iowa City (Ia.) Gas & Electric Co.--,Sold-New Company.
See Western Utilities Co. below and compare V. 89, p. 1599, 46.
Iowa City (Ia.) Lt. & Power Co.-Successor Co.-Control.
See Western Utilities Co. below and compare V. 89, p. 1599, 40.
Kansas City Railway & Light Co.-Majority of 5-Year
-A large majority of the 6% 5-yr. collateral
Notes Deposited.
gold notes, maturing Sept. 11912, have been deposited under
the agreement of deposit dated Aug. 15 1912, and the committee for the present will permit further deposits to be made
as stated in advertisement on another,page. Compare V.95,
•
p. 61S, 680.
Lake Superior Corporation, Toronto.-Annuai Report.- .
"Annual Reports" on a preceding page.
Continental Telephone & Telegraph Co. of N. J.-Sale.- See
-A dividend of 5% for the year
Full 5% on Income Bonds.
Sec Keystone Teiep. Co., V. 94, p. 770.--V. 04. p. 281, 126.
has been declared on the $3,000,000 non- ending June 30 1912
Costilla Estates Development Co.-Guaranteed Bonds.
cum. 5% income bonds, payable Oct. 1 a* bhe First National
V. 94, p. 1702.-V. 90, p. 629. • • • •
See San LuIS Power & Water Co.
THE CHRONICLE
SHPT. 2 t 1912
753
Bank, Phila. The only previous distributions were 23% year bonds which provided for retiring $650,000 existing
each in Oct. 1910 and 1911 and 5%Oct.1906.-V..95,p.114. bonds and for improvements and extensions. Joseph S.
Keen of Phila. is President and H. Bayard Hodge of Phila.
Lehigh & -Wilkes-Barre Coal Co.-Earnings.Balance, is Secretary. Compare V. 93, p. 51.
Dividends,
Interest,
' Net '
rota/
June 30Receipts.
Year1911-12 __ $18,742,623
1910-11 _ _ 16,879,575
-V.,93, p. 1459.
Earning's.
$3,760,301
:3;473,382
St. Fd.,&c. (15%).
$1,274,390 $1,197,625
1,197,625
1,291,583
Surplus.
$1,288,346
984,174
Long Beach (Cal.) Consolidated:Gas,Co.-Earnings.-
Sept. 30 Year- 1910-11. 1969-10.) Sept. 30 Year- 1910-11. 1909-10
Gross earnings _ _..8163,759 $137,227 Fixed charges_ _ _ _ $18,000 $18,000
$52,110 $59,044 Balance, surplus_ $34,440 $21,94.1
Net earnings_ _
E. IF. Rollins & Sons, San Francicso, who early in 1911 placed $300,000
M. as of 1910 (auth. $1,000,000), report these earnings, also the capitalization on Melt. 31 1912, as follows: Common stock, $675,700; pref.
stock, $85,000; 1st M. 6% bonds, $429,000. [On April 26 1912 the company was reported to have authorized the sale of $250,000 addititinal bonds
for extensions and enlargement of its gas-making capacity to enable It
to supply San Pedro. Wilmiirrton and the new industrial city at Dominguez.
Ed.) Compare V. 91, p. 1774; V. 92, p. 960.
.._
-.
The new issue (dated Nov. 1 1911) is a general mtge., and sufficient bonds
arc In the hands of the trustee to retire all underlying bonds, the latter being still In the hands of the public and not subject to redemption before
maturity. The new bands can be called at any time after live years at
any interest period at 1023, in any amounts.-V. 93, rt. 51.
Peden Iron & Steel Co., Houston, Tex, Hardware Dealers.-Bonds Sold.-Peabody, Houghteling & Co., Chicago,
have sold privately the entire present issue of $375,000 1st
M. 6% serial gold bonds dated Aug. 1 1912, recently offered
by them at par and int. The bankers report:
Bonds.-Now issued, $375,000; reserved for future Issue, subject to
approval of P. II. & Co., $125,000; total authorized issue, $500,000. The
reserved bonds, if issued, will mature $60,000 on Feb. 1 1924 and $65,000
on Fel). 1 1925. The present issue falls due in annual installments on Feb. 1
1914 to 1923 successively, $20,000, $25,000, $30,000, $35,000(2),
Makaweli Sugar Co., San Francisco.-Dissolution.-The from
$40,000(2), $50,000(3), but redeemable in reverse of their numerical'order
stockholders of the company on Feb.24 voted to dissolve the on or after Feb. 1 1914- at 10246 and int. Par $1,000 and $500 (0).
and semi-annual interest payapie at the First Nat. Banks of
company, which was merely a holding company for the Ha- Principal
Chicago and New York. Trustees, I,irst Trust & Savings Bank, Chicago.
and Augustus S. Peabody of Chicago.
waiian Commercial & Sugar Co.
First mortgage upon all property now or hereafter owned. Issued to
Of the $5,000,000 authorized stock (par $50), $3,788,250 was at last accounts outstanding. The authorized Issue of Hawaiian Commercial & Su- build additional warehouses and office buildings in Houston and San Angar Co. stock is $10,000.000 (par $25), all outstanding Jan. 1 1911, of tonio. Security: land in centre of Houston and San Antonio, $307,812;
which $2,312,755 has been paid up. The stockholders of the Makawell buildings on same, $368,273; net working capital, $711,584; total assets,
- $1,387,669.
company re Nived share for share In stock of the Hawaillan company.
Average annual net profits for 5 fiscal years end. Dec. 31 191E _ _ _$69,026
V. 91, p. 521.
•
53,761
Net profit first 6 months of 1912, approximately
•'Manning Maxwell & Moore,Inc.-Dividend Increased.
Properties.-(a) In Houston, 109,125 sq. ft. of land, with 2-story brick
A dividend of 13.i% has . been declared on the $5,000,000 capital stock warehouse and office building containing about 1,000,000 cu. ft. of space;
In
1%
also, under construction, a three-story reinforced concrete office building
payable Sept. 30 to holders of record on that date, comparing with
June last, that being the first distribution since Sept. 1911. Quarterly containing 646,000 Cu. ft. and a reinforced concrete warehouse building
payments of 114% were made from June 1905 to Sept. 1911, Incl.-V. 93, containing 1,300,000 en. ft. of space. (b) In San Antonio has long occupied a building on land leased at nominal rental. Is now erecting on land
p. 1671.
purchased for $35,000 a reinforced concrete warehouse and office building
Marion (Ia.) Light, Heat & Power Co.-Merger.---to cost $50,000.
Light
Co.
under
273.
&
"Railroads"
above.
-V.
p.
79,
Sec Iowa By.
History.-Business established in 1890 by E. A. Peden and R. P. Smith.
In 1902 incorporated with present name, capital $200,000. Fully paid
Mexican Northern Power Co.-Officers, Bonds, dec.capital now $1,000,000, chiefly from profits. The stockholders include
D. E. Thompson, MC., of Toronto was some time ago elected President some
of the most responsible people In Houston. Company's financial
to succeed G. F. Greenwood, and A. E. Ames o I Toronto, Vice-President. standing
(s
6 int
mos.h:
is of the very highest. Has largest hardware busines
Mr. Greenwood becomes a Vice-President and General Manager.
Southwest.
have
Thompson,
K.C.,
Strachan
Ames
D. E.
Johnston, MC., and A. E.
Annual Sales (Company Has Never Had an Unprofitable Year.)
been elected directors to represent the so-called Toronto group who secured
a majority of the proxies at the annual meeting.
1900.
1895.
1905.
1911.
1912.
1890.
1910.
The retiring President reported that the work on the plant In Mexico is
$10,743 $192,636 $500,242 $l,245,370,$1,908,088 $2,045,321 $1,120,583
progressing favorably and that it will be completed within a year.
The present year Is expected to be the largest year in the company's hisThe bondholders on June 29 1611 authorized,the issue of $200,000 of the
bonds in the denomination of $100 each,such bonds to be exchanged for those tory, both in sales and profits.-V.92, p. 1037.
outstanding In denominations of $500 and $1,000,. and to give each bondholder one vote for each $100, or its equivalent in English sterling money
Pioneer Telephone & Telegraph Co.-Decision.
or French currency bonds held by him, Instead of one vote for each $500
The Oklahoma Supreme Court on Sept. 11, in a decision announced by
of such bonds, and also voted to remove doubts as to the provisions respect- Chief Justice Turner, held void the city ordinance authorizing the company
ing the sinking fund contained in the deed of trust, and authorized the exe- to Increase Its rates on the basis of additional subscribers, the maximum rate
cution of supplemental deed or deeds to give effect to the proposal. Com- to be charged to be dependent upon the total number of telephones within
pare V. 92, p. 1036.
the city limits. The right of the corporation commission to establish rates
for telephone companies is upheld. The Court says that power of an incorMobile (Ala.) Electric Co.-Annual Earnings.porated city or town to fix municipal telephone rates can only be derived
Outstanding eapItalizzalon: Pref. stock, 7% cum., par, $100 (antis. $5,- from tile Legislature by express grant or necessary implication.
000,000; V. 93, p. 1605), $852,500: ccmaion stock, par $100 (auth. $2,500,As a result of the decision, the company will be obliged to return, it is
000), $950,000; 1st M.sinking fund 5% gold bonds (V.88, p.23.0$1,696,60J. stated, about $64,000 to subscribers, the amount of the rebate under a
Other
Bond
Pf. Divs. Balance, contract by which the company put up a bond to cover the additional
Net (after
Year ending Gross
Surplus. charges since the increase became operative in 1909.-V. 93, p. 467.
Interest. Interest.
(7%).
Taxes).
June 30. Earns.
$39,595
$3,884
$48,959
$82,140
1911-12_ __ _$307,666 $174,578
35,071
78,538
5,849
38,478
Republic Iron & Steel Co., Youngstown, 0.-No Dividend
1910-11_ __ _ 331,702
157,936
-V. 93, p. 1605.
in October.-No action has been taken by the executive com-
Mono Power Co., Bishop, Cal.-Bonds.-This company, mittee regarding the resumption of dividends on the pref.
incorporated in California in Dec. 1906 with $3,000,000 auth. stock, which were suspended following the distribution of
stock, in $100 shares, to build a hydro-electric plant on the the regtilar 13
4% in Jan. last. Chairm. Topping is quoted:
Owens River in the Sierra Nevada Mts., 15 miles north of
A majority of the board informally expressed themselves as being of the
be wiser to defer action on the matter of resuming diviBishop filed in January last a certificate of creation of opinion that It would
dends to a later date, notwithstanding the fact that present earnings are in
bonded
'debt in.the shape of $2,500,000 30-year 6% bonds, excess
of dividend requirements. The policy of the board, so far as It is
substantially to the cash surplus, so as to fortify
dated, it is supposed, Dec. 15 1911 and redeemable at 105 Practical to do so, is to addunexpected
general disturbance to business.
the company against any
and int. on and after Dec. 15 1916.
It Is thought In some quarters that if conditions continue favorable, the
The company's transmission lines are. projected to extend 150 miles to
Silver Peak, Tonopah, Goldfield, Bullfrog and possibly Wonder, Nev.
Plant with 12,500 h.p. . turbine under construction. Directors: John J.
Quinn (Pres.) and H. A. Mosher (Sec.), both of Oakland; Leon M. Hall,
I. H. Clay, Fred L. Dreher.
directors may in November next authorize a resumption in January next.
Compare V. 95, p. 417, 622.
St. Croix Paper Co., Woodland, Me.-Bonds Offered.Kidder, Peabody & Co., Estabrook & Co. and Blodget &
Mountain States Telep. & Teleg. Co.-Indictment.Co., all of Boston and New York, are.offering at prices rangA special grand jury In the State District Court on Sept. 10 returned an ing from par for the first maturity (1913), yielding 5%, to
Indictment against the company on the charge of operating in Denver with4 and int. for the last maturities (1931 and 1932), yieldout a license from the city, as required by the Act of 1907 in the case of 953
8% income, the unsold portion of the present issue
public utility companies. The question of granting a franchise is, it Is ing 5%
stated, under consideration by the City Council. The company's counsel of $2,500,000 1st M. 5% serial gold bonds, dated Sept. 3
claim that it does not need a franchise from the city, the constitution being
has
the
right
to
company
throughoperate
1912 and due yearly on Sept. 1 1913 to 1937 (first 5 installclear, In stating that a telegraph
out the State with the consent of the people,and the city being compelled ments, $85,000, $105,000, $115,000, $120,000, $125,000;
to grant a franchise to any telephone company which primarily is a telegraph
thereafter $130,000 annually), but callable as a whole or in
company.-V. 94, p. 628.
.
Nevada (Mo.) Water, Lt. & Trac. Co.-Merger-Bonds.-- part after Sept. 1 1917 on a 43/2% income basis. Interest
above.
-V.
94,
p.698,
Co.
M. & S. in Boston. Total auth., $3,000,000. Trustee,
Sec Fort Scott.& Nevada Lt., Ht., W.& Power
New Departure Mfg. Co., Bristol, Conn.-Stock Dividend. Old Colony Trust Co., Boston. The bankers say:
A first mtge. on (1) a thoroughly modern property already representing
an investment greatly In excess of the total ($3,000,000) bonds authorized.
(2) On well-located timber lands estimated to be worth at least $5,470,000.
(3) Power development (with all franchises, &c., now or hereafter acquired) under construction, making impregnable the company's ability to
produce an adequate snpply of ground wood. (4) All real estate owned
except sundry reservations for homestead purposes. No property mortNew Mexico-Colorado Coal & Mining Co.-Reorganized Co. gaged can be released until the last bonds are paid.
For record purposes, It should be noted that the company was incorporated
The remaining $500,000 bonds, maturing $100,000 annually 1933-1937,
, in New Mexico on July 1 1911 as a reorganization and consolidation, per are held In escrow and can only be issued for not to exceed 50% of the actual
plan V.
. 92, p,. 1441, of the Yankee Fuel Co., Santa Fe Raton & Eastern cost of new property or permanent additions.
• RR., Santa I- e Raton & Des Moines, Santa Fe Liberal & Englewood RR.
Organized in Maine in 1904 and acquired at that time two water-power
and Raton Water-Works Co., &c., and has taken over practically all of the sites on the St. Croix River, and approximately 235,000 acres of timber
stocks and bonds of the allied companies named, which were organized land, all located, except about 20,000 acres, within the watersheds of the
by Shepard & Co. of this city.
St. Croix River, about 110,000 acres being n Maine and the balance in
Province of New Brunswick. Present outstanding capitalization:
. New York (Bell) Telephone Co.-Bonds Offered.-Kidder, the
First M. serial 55, due 1913-1937, auth., $3,000,000: outst'g_ _ _$2,500,000
outst'l
2,000,000
Peabody & Co., N. Y. and Boston, are offering, at a price Stock ($500,000 pref., 6% cum.), par $100, auth.,&
The plant is located at Woodland, formerly called Sprague's Falls, Me.,
to yield 4%,by advertisement on another page, first and and
is a modern steel and concrete newspaper-manufacturing plant, with
mill containing two digestors capagen. mtge. 4M% gold sinking fund bonds of 1909,due Nov.1 up-to-date fire protection, the sulphite
of producing about 60 tons of sulphite per day, 16 grinders using 28-In.
-1939, but callable as entire series at 110 and int on 3 mos.' ble
wood and three paper machines with a capacity of 150 tons of newspaper
timber lands, represents a innotice. Par $500 and •$1,000. Tax-free in N. Y. State. per day. The property, not including the
vestment of over $3,600,000. Power for the plant was provided by a
Annual sinking fund 1% per annum when bonds can be pur- solid
wheels,
which
water
developed, under a working
and
dam
concrete
chased at or under par. Total outstanding, $74,000,000. head of 48 ft., approximately 13,000 h. p., the river flow being controlled
reservoirs,
and
lakes,
dams,
storage
by
(subject
only
to
$3,567,000 prior lien
A closed first mtge.
The company now has under construction at Grand Falls, eight miles
bonds) against assets reported as three times that amount above Woodland, a concrete dam, canal and power house capable of proabout 12,000 h. p., two-thirds of which Is to be installed at once,
ducing
of-$10,572,000;
and net earnings in 1909
1910, $14,496,000;
and transmitted as electric power to Woodland, permitting an increase
1911, $15,223,000. . Compare V. 94, p. 1054, 1510, 1569; In
the ground-wood production by at least 14,000 tons yearly. This would
V. 95, p. 548.
provide material for two more paper machines with a capacity of 100 tons
additional per day.
Norfolk County (Va.).Water Co.-Bonds.---'The company
The timber lands owned are within easy hauling distance of stream's
the lakes or the river itself. Expert Charles F. Crawford rein 1911 filed a mortgage to the Columbia Avenue Trust Co. emptying Into annual
growth of timber is much larger than the annual cut,
ports that the
of Phila., as trustee, to secure an issue of $2,000,000 5%.30- and that the value of the stumpage Is at least 45,470,009.
The company recently distributed among the holders of the common
shares gratis $37,600 common stock, being a dividend of 4% or thereabout,
and In this connection, In
in order to avoid fractions of shares, offers to buy
.or furnish additional
shares on the basis of $150 per share.
A. F. Rockwell is Pres.; F. P. Furlong, V.-P.; De Witt Page, Sec.; Chas.'I'.
Treadway, Treas. See bal. sheet, Scc., V. 94, p. 212, 283; V. 92, p. 885.
THE CHRONICLE
754
The earnings available for interest charges and maturity payments, according to a report furnished to us by Niles & Niles, certified public accountUnts, have averaged $306,736 for the five years ending Apr. 30 1912. The
saving possible by the power now being developed at Grand Falls, it Is expected, will add materially to the net earnings.
The consumption of newspaper has increased rapidly In this country
in the last five years, and though some new mills have been constructed
here and in Canada, the price has remained very firm. The markets for
our product are chiefly in Boston, New York and Philadelphia.
We have been familiar with the affairs of this profitable, well-managed
company since It was organized in 1904, and have known those most substantially interested for a number of years. [The $2,500,000 new bonds
have mostly been sold. The 2nd mtge. 6s of 1907, about 1,205,000, have
been called for payment at Old Colony Trust, Boston, on Dec. 1 at par and
int. The 1st M. 6s, about 900,000, also called, were payable on Sept. 1
last]. Compare V. 91, p. 713.
Santiago (Cuba) Electric Light & Traction Co.-Bonds
Offered.-Lawrence Turnure & Co. New York, are placing
at 98M & int. $2,000,000 1st M.64 gold bonds due Jan. 1
1959;but redeemable,all or any, at 105 & int. on and after
Jan. 1 1919. Par $500 (c*). Prin. & in (J. & J.) payable
in U. S. gold coin at Equitable Tr. Co., New York, trustee.
A circular shows:
Authorized. Ontstandrg.
Capital (No Floating Debt)$2,000,000 *1,500,000
Stock
2,500,000
2,000,000
First mortgage 6% gold bonds
Cal.
(Net
for
Years
Is
Shown after Deducting
Currency
S.
U.
Earnings in
Taxes).
1900 (11 Mos.) 1910 (12 Mos.) 1911 (12 Mos.) 1912 ( 7 Mos.)
$304,881
$227,964.
$356,916
$243,750
Gross ____
$171,468
$155,830
$129,520
Net
• • Increase 30%.
Sinking fund, commencing March 1 1919 will be sufficient to redeem the
entire $2,500,000 bonds authorized by 1959, 10 years before the expiration or any franchise.
• Owns the only street railway and electric plant in Santiago (there is no
gas plant in the city) and has a contract for public electric lighting. The
lighting and street railway concessions arc considered favorable, the former
perpetual and the latter expiring in 1969. Owns 11 miles of standard
gauge railway, including a line to the rapid developing suburb of Vista
Alegre, where the company owns land and where an amusement park has
been established. Railway mostly laid with 87-lb. steel rail with steel
cross-ties embedded in concrete. Transmission poles nearly all steel.
Has 26 semi-convertible Brill passenger cars, each equipped with two General Electric 40 h. p. railway motors.
The double-tracking of the railway line to the suburb of Vista Alegre
has become necessary and the cost of this, as well as of six new cars building
and of a new 1,000 k. w. turbine for the power house, will be met from the
proceeds of treasury stock.
Frank Steinhart, Pres. and Gen. Mgr. of Havana Elec. fly., Lt. & Power
Co. will be largely influential in the management of the Santiago Company,
and by more modern methods and by desirable economies expects to Increase
considerably the profits. Pres., Sr. Don Jose Marimon, Pres. of "Spanish
Bank of the Island of Cuba," one of the oldest and largest banks in the island. The population of Santiago Is about 55,000 and is increasing.
Shreveport (La.) Water-Works Co.-City Offers to Buy.-
See "Shreveport" in the "State and City" department.-V.87, p. 1014.
Southern Counties Gas Co. of California.-Bonds, &c.-
A block of $200,000 1st M. sinking fund gold 6% bonds, dated April 1
1916 at 105 and int.,
1911 and due April 11941, but redeemable on April 1 Bank,
Denver; J. H.
is beint placed at par and int. by Federal National
Adams & Co., Los Ang. and San Fr., and Edwin M. Bosworth & Co., Denver, who report:
Capitalization: Pref. stock, auth. $500,000; outstanding, $340,000;
' $1,000,000; outstand., $554,500.
corn. stock, $500,000; 1st M.bonds, auth.,
Earnings for Year ending June 1 1912-5 Mos. end. May 31 1912-Esitmate
Cal. Years.
. .
Yr.'11-12. 5 Mos.'12 Est.'12. Est.'13.
.. . .
$172,790 $79,603 $190,000 $225,000
Gross earnings.
45,349
26,071
Net, after oper. expenses and taxes
• Total meters, about 6,500 (against 5,300 In 1011). See also V. 94, p.
425.
p.
95,
V.
284;
• Springfield (0.) Light, Heat & Power Co.-Option.Ed. M. Tharp in the "Ohio State Journal," Columbus, Sept.
13, said in substance:
Hodenpyl, Hardy & Co., New York, have secured an option from a majority of the stockholders for the purchase of that property on or before
Nov. 16 on a basis of $60 a share (common stock; par $100). This option,
with $10,715 guaranty, has been deposited with the Central National Bank;
80% of the stock must be deposited before Nov. 16. All stock deposited
will bear interest at 5% per annum during the time it is thus held, payable
stock
by Hodenpyl, Hardy & Co. The company has $1,000,000 common
5% 1st M.bonds,
.outstanding, $100,000 6% cum. pref.stock and $750,000
and the central
and does the entire electric lighting and power business
for the year
station heating for the city of Springfield. The gross earnings the
previous
endingJan.31 1912 were $223,076,an Increase of $26,787 over
1714.
p.
91,
V.
Compare
year.
•
Surbrug %Tobacco) Mfg. Co.-Reported Sale.-
See United Cigar Stores Co. of Am. below.-V.82, p. 1501.
Tonopah (Nev.) United Water Co.-New Control.The National Properties Co. of New York, It is stated, recently acquired
control and elected as officers and directors: Van Horn Ely, Pres.; E. G.
Wheeler, Vice-Pres.; B. N. Busch, Sec.; and Treas.; Ralph C. Lupton and
.0. B. Zabriskie, directors.-V.89, p. 1673, 605.
United Cigar Stores Co. of America.-Stock All Subscribed.
Stockholders of the United Cigar Stores Co. have, It is announced, subscribed for practically all of the $4,527,000 new preferred stock, which was
offered to them at par, making it unnecessary for the underwriters to take
any of the stock. See plan, V. 95, p. 241.
Acquisition of Surbrug Company.-
The cigarette manufacturing department of the Surbrug (Tobacco) Co.
(V. 82, p. 1501) has, it is stated, been purchased by a syndicate, including
William H. Butler, In the interest of the United Cigar Stores Co. The Surbrug Co., it is reported, manufactures about 250,000,000 cigarettes a year,
including the Milo and other popular brands, and in addition turns out a
large quantity of smoking tobacco. Heretofore the United Cigar Stores
Co. has confined its efforts entirely to the sales end of the tobacco industry,
'arid'prior to the dissolution of the American Tobacco Co. acted as its retall•Atstributer.
The United Cigar Stores Co. has recently opened 13 stores in New Orleans
aloce.-V. 95, p. 549, 241.
United States Printing Co.-Selling Plan Approved.-
The directors on Sept. 11 approved the plans for the organization of the
joint sales agency with the United States Lithograph Co. under the name of
the United States Printing & Lithographing Co. Compare V. 95, p. 425.
Vacuum Oil Co.-Second Dividend on Increased Stock.-
A dividend of 3% has been declared on the $15,000,000 stock, as recently
Increased, payable Oct. 31 to holders of record Oct. 15. A similar amount
• was paid on Aug. 15.-V. 95, p. 55.
Western States Gas & Electric Co.-Earnings.-Gross
Year end.
May 31- Earnings.
1911-12 ____*919,545
782,756
1910-11
-V.95, p. 180. •
Net (after
Taxes).
$517,334
439,366
Bond,&c.
Interest.
$177,578
194,054
Pref. Div.
(7%).
$130,360
Balance,
Surplus.
$209,396
[VoL. Lxxxxv.
Westinghouse Electric & Manufacturing Co.-Second Dividend on Common Stock.-On 4% Basis.-The directors on
Tuesday declared a dividend of 1% on the $35,211,800 common stock for the quarter ending Sept. 30, payable Oct. 31
to holders of record Sept. 30. This is the second dividend
on the stock since the reorganization in 1908, a similar
amount having been paid on Apr. 30 last from the earnings
of the fiscal year ending Mch. 31. Compare V. 94, p. 922.
Chairman Tripp is quoted:
The action of the directors means that the common stock Is established
on a 4% basis and will continue on a 4% basis unless there develop less favorable conditions than the present outlook Indicates. Increases In the
dividend will be subject to future consideration,-V.95, p. 56.
Worcester (Mass.) Elec. Light Co.-Increase of Stock.The directors on Sept. 17 voted to recommend to the stocicholedrs at the
annual meeting on Oct. 9 that the present capital stock of $800,000 be increased to pay the floating debt and other expenses incurred in the recent
additions to the power plant. The amount which will, it is stated, probably
be $200,000, will be left for the stockholders to decide. The amount to
be Issued, as well as the price and method of distribution, will be determined
after the consent of the Massachusetts Gas and Electric Light Commissioners
Is obtained.-V.93, p. 1047.
Yankee Fuel Co.-Successor Company.See New Mexico-Colorado Coal & Mining Co. above.-V.92, p. 144.
-Our Annual Convention Supplement-the Bankers'
Convention Section-accompanies to-day's issue of the
"Chronicle". This year's Supplement contains a complete report of the proceedings of the 1912 Convention of the
American Bankers' Association held in Detroit last week.
We have endeavored to secure for the advertising pages of
our Convention Supplement the most representative banks
and trust companies and the banking firms of the highest
character in this country, which will appeal to the exacting
banking and investment requirements of the readers of this
paper. In addition to these, the foreign banking corporations and concerns are largely represented among the advertisements, including some of the best known institutione
in the world. A feature of all the advertisements is the
attractiveness of their display and the interesting half-tone
cuts of the bank buildings and advertising trade-marks
employed by the various advertisers.
"How to Analyze Railroad Reports" is the title of a new
book published by John Moody, the well-known Wall Street
writer on corporation securities. The scope of the book
is indicated by some of the chapter headings, which include
The Location of the Railroad, the Management of the Railroad, Physical Factors in the Railroad, Passenger and
Freight Density, Freight Train Load, The General Income
Account, The Maintenance Accounts, Outside Operations,
Net Operating Revenues, Fixed Charges and the Margin of
Safety, Assets and Liabilities, The Balance Sheet, Net
Capitalization, &c. An appendix furnishes an outline of
the uniform accounting requirements of the Inter-State
Commerce Commission. Published by Analyses Publishing
Co., 35 Nassau Street, New York. Price $2 10.
-Edmund V. Cuming & Co., members of the Baltimore
Stock Exchange, announce that they have opened offices
at 209-211 East German St., Keyser Bldg., Baltimore.
The new firm is composed of Edmund V. Cuming and Harry
E. Schnieder, both formerly connected with Boyer, Griswold & Co. Edmund V. Cuming & Co. will conduct a
general banking and brokerage business and have direct
wires to all the principal cities and every facility for keeping
in touch with the security and investment markets. The
concern will be the Baltimore correspondents of Pennington, Colket & Co.
1 and interest, yielding 5Y1% on the investment,
-At 91 A
Nelson, Cook & Co. of Baltimore are offering $100,000
Lehigh Valley Transit Co. ref. and impt. mtge. 50-year
5% bonds, which are tax-exempt in Pennsylvania. The
firm's special circular just issued covers all the investment
features of this property and also includes a list of other
attractive bonds at prices to return the buyers 4M to 5.35%.
Copy will be mailed to all inquirers.
-W. W. Vernon of Chicago has resigned his position as
Secretary and Treasurer of Porter, Fishback & Co. and
severed his connection with the American Life Insurance Co.
of Chicago. Mr. Vernon retains his connection as Treasurer
of the Edmund T. Perkins Engineering Co. and is at present
engaged in the independent, financing of a number of
projects for his own account.
-Harris, Forbes & Co. of New York are offering at 97
and interest, by advertisement elsewhere in this issue to-day,
$1,687,000 Iowa Ry. & Light Co. first and refunding mtge.
5% bonds due 1932. ' Net earnings over twice bond interest.
See advertisement for general details and item regarding this
property in the "Gener,a1,,,Lny,estment News Departinent"
for other particulars.
-Anticipating the tax deOctober 1st, A. M. Kidder &
Co., 5 Nassau St., this city; aireadvertising a list of "exemptfrom-tax" guaranteed railroad stocks which list the firm
will gladly mail to interested,parties upon application.
-The firm of Kilvert, White & Co., Providence, hasi'dissolved and new partnerships have been formed, viz.: C. A.
Kilvert & Co., 19 Exchange Place, and W. W. White & Co.,
29 Weybosset St.
-Attention is called to the offering by Bolger, Mosser ds
Willaman, Chicago, of City of Tacoma 4%s to net 4.35%.
See particulars in advertisement.
-Pingree, McKinney & Co. are recommending Laconia
Car Co. pref. stock, placed early in the year at 112 and now
quoted at about 114. (See V. 95, p. 52.)
THE CHRONICLE
SEPT. 21 1912 j
755
Selves and Daruntents.
6/44.044,4446466~.44444446646
/406446444644•044,V444646
.
.
4.
4 44.44.444
.
44.4............6
CHICAGO & NORTH WESTERN RAILWAY COMPANY
FIFTY-THIRD ANNUAL REPORT-FOR THE FISCAL YEAR ENDING JUNE 30 1912.
FREIGHT TRAFFIC.
To the Stockholders of the Chicago dc North Western Railway Co.:
The Board of Directors submit herewith their report of the
The
details
of
Freight
Traffic for the year ending June 30
operations and affairs of the Chicago & North Western Rail- 1912, compared with the preceding year, were as follows:
way Company for the fiscal year ending June 30 1912:
Average number of miles operated
Operating Revenues:
Freight Revenue
Passenger Revenue
Other Transportation Revenue
Non-transportation Revenue
7,858.87
546,691,540 41
19,555,567 15
6,775,256 34
676,227 68
Total Operating Revenues
Operating Expenses (71.51% of Operating Revenues)
$73,698,591 58
52,701,843 30
Net Operating Revenue
Outside Operations-Net Deficit
$20,996,748 28
33,038 59
Total Net Revenue
Taxes Accrued (4.64% of Operating Revenues)
520,963,709 69
3,422,838 13
Operating Income
Other Income:
Rents-Credits
Dividends on Stocks Owned
Interest on Funded Debt Owned
Interest on Other Securities, Loans and
Accounts, and Other Items
517,540,871 56
Total Other Income
Gross Income
Deductions from Gross Income:
Rents-Debits
Interest Accrued on Funded Debt
Other Interest
Sinking Funds
Other Deductions
Total Deductions from Gross Income
Net Income
Dividends:
8% on Preferred Stock
7% on Common Stock
5165,790 30
1,844,722 00
5,025 00
1,238,239 91
3,253,777 21
520,794,648 77
9,327,318 17
-5-11,467,330 60
51,791,600 00
9.108,01500
10,899,615 00
*567,715 60
The results as compared with the preceding fiscal year
were as follows:
Freight Revenue decreased
Passenger Revenue increased
Other Transportation Revenue increased
Non-transportation Revenue increased
*2,333,417 58
5436,683 48
463,881 42
213,258 43
1,113,823 33
_
Decrease in Total Operating Revenues
$1,219,594 25
decreased
6Expenses
.
1
,866
-89
*
*
3
Operating
306,804 29
Taxes Accrued increased
Decrease in Operating Expenses and
Taxes Accrued
Net Deficit from Outside Operations decreased_ _
54,062 60
20,638 37
24,700 97
$1,194,893 28
Decrease in Operating Income
The Operating Expenses for the current fiscal year include
$30,350,692 09 paid for labor as compared with $30,018,957 58 paid during the preceding fiscal year, being an increase of $331,734 51, accounted for as follows:
Increase account higher rates of compensation
Decrease account less time worked by employees
$471,397 58
139,663 07
$331,734 51
MILES OF RAILROAD.
The total number of miles of railroad owned 'June 30 1912
was
7,744.85 miles
In addition to which the Company operated:
Through Ownership of Entire Capital StockWolf River Valley By. (Junction cast of Elton to Van
Ostrand, Wis.)
Under LeaseSt. Paul Eastern Grand Trunk By.(Clintonville
60.02 miles
to Oconto, Wis., and branches)
. De Puc Ladd de Eastern RR.(Ladd to Seatonvile, Ill.)
3.25
• Belle Fourche Valley By. (Belle Fourche to
Newell, S. D.)
23.52
James River Valley & North Western By.
39.55
(Blunt to Gettysburg, S. D.)
Des Plaines Valley By. (Proviso Yard to Wis10.50
consin Division Junction, Ill.)
Whole Road
Average Number of Tons of Revenue Freight Carried per Loaded
Car Mile
Average Freight Revenue perTrain
Mlle
276.54
298.94
8.10 Inc.
15.65
16.87
7.80 Inc.
$2.50
$2.71
8.40 Inc.
PASSENGER TRAFFIC.
The details of Passenger Traffic for the year ending June 30
1912, compared with the preceding year, were as follows:
51,194,791 02
8,043,839 90
39,848 94
38,000 00
10,838 31
Total Dividends on Stock
Balance Income for the year
-Decrease-1911.
1912.
Amount. P.C.
$49,024,957 99 $46,691,540 41 $2,333,417 58 4.76
Per cent of
1912.
1911.
Inc.or Dec.
Tons of Freight Carried
36,733,526
37,265,642 1.45 Inc.
Tons of Freight Carried One Mile_ _5,433,696,684 5,146,634,307 5.28 Dec.
Average Revenue Received per Ton
51.33
51.25 6.02 Dec.
Average Revenue Received per Ton
per Mile
.90 of a cent .91 of a cent 1.11 Inc.
Average Distance Each Ton Was
Hauled
147.92 miles 138.11 miles 6.63 Dec.
Mileage of Revenue Freight and
Mixed Trains
17,216,183 12.38 Dec.
19,648,998
Average Number of Tons of Revenue Freight Carried per Train
MileEast of Missouri River
300.27
324.36 8.02 Inc.
West of Missouri River
133.48
136.93 2.58 Inc.
Freight Revenue
1.98 "
----Increase1911.
Amount.
%
1912.
$19,118,883 67 519,555,567 15 5436,683 48 2.28
% of Inc.
1911.
1912.
or Dec.
Passengers Carried
30,330,900
31,526,803
+3.94
Passengers Carried One Mile
1,054,572,455 1,080,580,440
+2.47
Average Fare Paid per Passenger
63 cents
62 cents
-1.59
Average Rate Paid. per Passenger
1.81 cents
per Mile
1.81 cents
Average Distance Traveled per Pas34.77 miles
senger
34.28 miles
-1.41
Mileage of Revenue Passenger and
20,144,057
Mixed Trains
21,232,249
+5.40
Average Passenger-Train Revenue
. $1 20
per Train Mile
$1 17
-2.50
Passenger revenue
MAINTENANCE OF WAY AND STRUCTURES.
The total Operating Expenses of the Company for the
year ending June 30 1912 were $52,701,843 30; of this
amount $9,368,721 19 was for charges pertaining to the
Maintenance of Way and Structures. Included in these
charges is a large part of the cost of 47,168 tons of steel rails,
the greater portion of which was laid in replacement of rails
of lighter weight in 344.77 miles of track; also the cost of
2,168,273 new ties.
The charges for Maintenance of Way and Structures also
include a large portion of the cost of ballasting 95.73 miles
of track with crushed stone, 129.43 miles with., gravel and
19.88 miles with cinders; the erection, in place of wooden
structures, of 35 new steel bridges on masonry and 7 on pile
supports, aggregating 4,018 feet in length and containing
2,494 tons of bridge metal, and the replacement of other
wooden structures with masonry arch and box culverts and
cast-iron pipes, the openings being filled with earth. The
wooden structures replaced by permanent work aggregate
8,640 feet in length.
The charges on account of Maintenance of Way and Structures for the year ending June 30 1912, compared with the
preceding year, were as follows:
66
Under Trackage RightsPeoria & Pekin Union By.(in the city of Peoria,
2.02
III.)
Chicago Indiana & Southern RR. (Churchill to
2.80
Ladd, Ill.)
Union Pacific RR.(Broadway Station, Council
Bluffs, Iowa, to South Omaha, Neb.)
8.73
Missouri Valley & Blair By. & Bridge Co.'s
track
3.36
Chicago St. Paul Minneapolis Fic Omaha By.
(Blair to Omaha, Neb.)
24.70
Chicago St. Paul Minneapolis & Omaha By.
(Elroy to Wyeville, Wis.)
22.79
Chicago St. Paul Minneapolis
Omaha By.
' (in Sioux City, Iowa)
2.28
'Illinois Central RR.(Sioux City to Wren, Iowa).10.10
Cost of Rails:
New steel rails
Usable and re-rolled rails_
136.84 "
64
46
46
7,060.45 "
The above mileage is located as fol ows:
In Illinois
695.52 miles
In Whconsin
164.55 "
,.
In Michigan --------------------------------------------519.88
n1 nncso a
650.30 "
In Iowa
_ _ _-_
1,620.26
__
In North -Dakota
14.28
In South Dakota
1,063.15
In Nebraska
1.102.05
In Wyoming
130.46
64
66
64
Total ------------------------------------------7,960.45
Inc.(+) or
1912.
Dec.(-).
$684,098 02 -$465,791 89
517,029 13 +130,369 60
$1,536,549 44 $1,201,127 15 -5335,422 29
Less value of old rails and other
858,802 36 -234,259 09
Items
1,093,061 45
Net charge for rails
$443,487 99 $342,324 79 -$101,163 20
1,285,538 95 1,089,639 61 -195,899 34
Cost of Ties
183,677 18
Cost of Ballast
270,889 41
+87,212 23
415,725 36
Cost of Other Track Material
332,143 11
-83,582 25
Roadway And Track Labor and
4,169,703 72 3,971,729 48 -197,974 24
Other Expenses
76,78 "
Total miles of railroad operated June 30 1912
1911.
$1,149,889 91
386,659 53
6.
Total Charges for Roadway and
$6,498,133 20 56,006,726 40 -5491,406 80
Track
Other Charges Account Maintenance of Way and Structures
were as follows:
982,706 24 -301,975 28
Bridges, Trestles and Culverts_ 1,284,681 52
228,930 65
-40,032 17
268,962 82
Road Crossings, Fences, &c_ _ _
314,857 72
248,663 31
+68,194 41
Signals and Interlocking Plants
977,028 80
-9,075 59
Buildings, Fixtures and Grounds 986,104 39
68,556 21
130,497 71
+61,941 50
Docks and Wharves
399,833 44
463,546 88
+63,713 44
Superintendence
75,157 02
92,885 00
+17,727 98
Roadway Tools and Supplies
174,140 01
171,541 79
-2,598 22
Sundry Miscellaneous Charges_
Total Charges Account Maintenance of Way and Struc$10,002,231 92 $9,368,721 19 -5633,510 73
tures
The above charges for Maintenance of Way and Structures
for the current year amount to 17.78% of the total Operating
Expenses, as compared with 18.87% for the preceding fiscal
year.
756
THE CHRONICLE
[VoL. Lxxxxv.
CONSTRUCTION.
MAINTENANCE OF EQUIPMENT.
The construction charges for the year ending June 30
The charges on account of Maintenance of Equipmentfor
the year ending June 30 1912, compared with the preceding 1912 were as follows:
On Account of Additional Main Tracks, viz.:
year, were as follows:
Inc. (+) or
Dec. (-).
1911.
1912.
Locomotives
$4,021,661 26 $4,167,982 40 +$146,321 14
-72,808 20
907,629 77
Passenger-Train Cars
980,437 97
+80,097 21
Freight-Train Cars
3,684,541 12 3,764,638 33
-7,60497
99,451 93
Work Equipment
107,056 90
+40,699 73
241,971
21
Shop Machinery and Tools_ __ _
201,271 48
+71,707 81
310,815 69
239,107 88
Superintendence
+4,244 34
77,363 82
Sundry Miscellaneous Charges..
73,119 48
Total Charges Account Maintenance of Equipment
$9,307,196 09 $9,569,853 15 +$262,657 06
The above charges for Maintenance of Equipment for the
current year amounted to 18.16% of the total Operating
Expenses, as compared with 17.56% for the preceding fiscal
year.
• RESERVE FOR ACCRUEI1DEPRECIATION OF
EQUIPMENT.
At the close of the preceding fiscal year there was a balance
$2,386,365 49
to the credit of the Equipment Reserve Accounts of
During the year ending June 30 1912 there was credited to
the Equipment Reserve Accounts on account of charges to
Operating Expenses and Profit and Loss, and for salvage_ _ _ _ 2,287,477 45
$4,673,842 94
And there has been charged during the year against the above
amount the original cost of Equipment retired and other items,
as follows:
$125,506 00
15 Locomotives
36,461 24
8 Passenger-Train Cars
956,686 34
1,434 Freight-Train Cars
23,950 00
126 Work Equipment Cars
155,377 14
Other Items
1,297,980 72
Leaving a balance to the credit of the Equipment Reserve
Accounts on June 30 1912 of
$3,375,862 22
Miles.
Second Track, Lake Shore Junction to
north of Lindwerm, Wis
4.16 $180,452 85
1.27
66,596 87
Second Track near West Allis, Wis_
$247,049 72
On Account of Extension, viz.:
Dallas to Winner, South Dakota
21.50
On Account of Elevating Tracks, viz.:
•
$19,615 80
In the City of Evanston, Ill
1,886 41
North 46th Ave.to Austin Ave., Chicago, Ill.
354,680 57
Austin Ave. to Harlem Ave., Oak Park, Ill_ _
Harlem Ave., Oak Park, Ill., to Des Plaines
266,467 48
River
South Branch Track, from near Taylor St. to
24,683 34
Canal St., Chicago, Ill
Sundry Construction:
Right of Way and Additional Depot and
Yard Grounds
Cr $60,462 75
Station Buildings and Fixtures
34,220 38
Shops, Enginehouses and Turntables
49,864 93
Water and Fuel Stations
63,859 45
Shop Machinery and Tools
111,593 40
710,19641
Bridges, Trestles and Culverts
98,915 76
Interlocking and Signal Apparatus
142,966 36
Telegraph and Telephone Lines
New Sidings, Yard Tracks and Spurs to In106,679 79.
dustries
642,38573
Betterment of Roadway and Track
413,214 14
Proviso, Ill., Terminal Improvements
347,971 06
Boone, Iowa, Terminal Improvements
189,40628'
New Chicago Passenger Terminal
Miscellaneous Construction, including Road
86,413 28'
Crossings, Signs and other items
31,290 68
667,333 60
2,937,224 42
Equipment:*
Equipment Retired
Cr.$1,297,980 72
Equipment Acquired-41 locomotives, 65
passenger-train cars and 26 work-equipment cars
1,219,587 27
Cr.78,393 -15
$3,807,504 97
Account Cost of Milwaukee Sparta & North Western By.
TRANSPORTATION EXPENSES.
14,506,058 41
(incomplete)
The Transportation Expenses of the Company for the year
$18,313,563 38
Total
ending June 30 1912 were $30,924,938 30, or 58.68% of the
total Operating Expenses. Of this amount $18,791,386 22,
• For equipment being acquired under the Equipment Trust of 1912 sec
or 60.77%, was charged for labor; $7,661,267 62, or 24.77%, page 19 [of pamphlet report].
was charged for fuel for locomotives, and $4,472,284 46, or
TRACK ELEVATION.
14.46%, was charged for supplies and miscellaneous items.
The elevation of the Company's six main tracks on the
The increase in the Transportation Expenses for the year Galena Division through the Village of Oak Park,
ending June 30 1912, as compared with the preceding fiscal which adjoins the City of Chicago at its western limits, has
year, was $68,074 45, or 0.22%, distributed as follows:
been completed. The continuation of this elevation through
$220,748 45
Increase in amount charged for labor
302,654 49 the villages of River Forest and Forest Park, a distance of
Decrease in amount charged for fuel for locomotives
Increase in amount charged for supplies and miscellaneous items 149,980 49 1.43 miles, has been practically completed from the western
overhead crossing of the Minneapolis
$68,074 45 limits of Oak Park to the
Net Increase
St. Paul and Sault Ste. Marie Railway in River Forest, a
CAPITAL STOCK.
distance of .8 miles.
There was no change during the year in the Capital Stock
SUNDRY ADDITIONS AND BETTERMENTS.
and Scrip of the Company other than the purchase by the
Among the more important sundry additions and betterCompany of $110 00 Common Stock Scrip.
The Company's authorized Capital Stock is Two Hundred inents to the property of the Company during the fiscal year
Million Dollars ($200,000,000 00), of which the following has are the following:
been issued to June 30 1912:
An additional main track from Lake Shore Junction, WisCommon Stock and Scrip held by Public_ _ _1130,117,103 82
consin, to a connection with the Milwaukee Sparta & North
Common Stock and Scrip owned by the
Western Railway north of Lindwerm, a distance of 4.16
Company
2,338,427 15
miles, has been completed.
Total Common Stock and Scrip
-----------------$132,455,530 97
An aggregate of 124.74 miles of yard tracks, sidings and
Preferred Stock and Scrip held by the Public $22,393,120 00
Preferred Stock and Scrip owned by the
industrial spurs has been added.
3,834 56
Company
At Norfolk, Nebraska, a modern brick passenger station
22,398,954 56 and eating-house has been coinpleted.
Total Preferred Stock and Scrip
At Proviso, Illinois, the enlargement and improvement of
$154,854,485 53
Total Capital Stock and Scrip June 30 1912
the Company's terminal facilities by the construction of a
58-stall, 90-foot brick engine house, machine shop, power
FUNDED DEBT.
At the close of the preceding fiscal year the amount of house, and other buildings, ample coal and water facilities,
Bonds held by the Public and in Sinking Funds was
$169,214 000 00 and 33.20 miles of additional yard tracks, is nearly completed.
At Boone, Iowa, the construction of a 36-stall, 90-foot
The above amount has been decreased durbrick engine-house, power-house, electric light and transing the year ending June 30 1912 as follows:
mission line, machine-shop and miscellaneous buildings, has
Bonds Redeemed with Sinking Fund Payments:
C. & N. W.By.Sinking Fund of 1879,6% _ _ _$67,000 00
I win completed. There has also been added to the freight.
C. de N. W.By.Sinking Fund of 1879,57
_ 68,000 00
0_
yard at this station 11.46 miles of tracks.
Total Bonds Redeemed
135,000 00
At the Chicago Shop Plant a brick extension to the powerfeet by 30 feet, has been made, which will provide
$169,079,000 00 house, 108
space for four 250 H. P. boilers.
And the above amount has been increased
At Milwaukee, Wisconsin, a reinforced concrete ten
by Bonds assumed during the year, as follows:
elevator, having a total capacity of 500,000
Milwaukee Sparta ec North Western Railway First Mortgage 15,000,000 00 cylinder, grain
bushels, is being constructed.
Total Bonds held by the Public and in Sinking Funds
Automatic block signals are being installed between
$184,079,000 00
June 30 1012
Harvard Illinois, and Evansville, Wisconsin, a distance of
Net Increase during the year in Bonds held by the Public
44 miles, and between Madison and Baraboo, Wisconsin, a
and in Sinking Funds
$14,865,000 00
distance of 38 miles. Upon completion of the work now
AND
DUE
FROM
BONDS IN THE TREASURY
under construction 865.4 miles of the Company's main line
TRUSTEE.
will be protected by automatic signals.
A telephone line for use in dispatching trains has been comAt the close of the preceding fiscal year the amount of the
Company's Bonds in its Treasury and due from Trustee pleted during the year from Boone to Council Bluffs, Iowa, a
was
$5,248,000 00 distance of 148 miles, and a telephone line for like use is
The above amount has been increased durbeing installed fromm Chicago, Illinois, to Clinton, Iowa; a
distance of 138 miles, which will provide a continuous
ing the year,ending June 30 1912 as follows:
C. & N. W. By. General Mortgage Gold Bonds of 1987, due
telephone line from Chicago to Council Bluffs. Upon coinfrom Trustee in Exchange for Bonds Retired, viz.:
pletion of this line the Company will have in operation
C. & N. W. By. Sinking Fund of 1879,6% _ _ $66,000 00
67,000
00
C. & N. W. By. Sinking Fund of 1879, 5% _ _
1,918 miles of telephone lines for use in dispatching trains.
$133,000 00
C. & N. W. By. General Mortgage Gold Bonds
of 1987. due from Trustee on Account of
Construction Expenditures Made during the
year
1,000,000 00
1,133,000 00
Total Bonds in the Treasury and due from Trustee
June 30 1912
16,381,000 00
Net Increase durin,, the year in Bonds in the Treasury
and due from Trustee
$1,133,000 00
NEW RAILWAYS AND EXTENSIONS.
The Milwaukee Sparta ct North. Western Railway, a
proprietary railway, to which reference was made in previous
annual reports, extending from pear Lindwerm on the Wisconsin Division, about eight piles north of Milwaukee, to
Sparta on the Madison Division, a distance (including the
railway acquired from the Princeton and Western Railway
TIIE CHRONICLE
SEPT. 21 1912.
Company) of 169.85 miles, and from a connection with the
above line at a point about six miles west of Lindwerm, to a
connection with the Milwaukee and Madison line near West
Allis, a distance of 8.63 miles, in all 178.48 miles, was purchased by this Company on April 1, 1912. In the completion
of this railway an additional main track is being constructed
from Butler Junction to Clyman, Wisconsin, a distance of
35.38 miles, and automatic block signals for both main
tracks between these points are being installed; an important
enlargement is being made to the Butler Yard, and three
overhead viaducts to carry public highways over the Compan3r's tracks are being constructed.
-The Des Plaines Valley Railway, a double track outer
belt railway, under construction in the interest of this Company from the Proviso Yard on the Galena Division to a
point on the Wisconsin Division near Blodgett, Ill., a
distance of 20.53 miles, has been completed from the Proviso
Yard to Wisconsin Division Junction near Des Plaines, Ill.,
a distance of 10.50 miles, and will be completed between
Wisconsin Division Junction and a point on the Wisconsin
Division near Blodgett on or about September 1 1912.
This railway directly connects the several divisions of the
Chicago and North Western Railway, outside of the City of
Chicago, with the new terminal yards at Proviso, about five
miles west of the City limits, at which point connection is
made with the Indiana Harbor Belt Railroad owning, or
having trackage rights over,about 112 miles of Belt Railroad,
serving the important industrial territory in the vicinity of
Indiana Harbor and Gary, Indiana. The Chicago and North
'Western Railway Company acquired an interest in the stock
and certain obligations of the Indiana Harbor Belt Railroad
(luring the preceding year. The completed portion of the
Des Plaines Valley Railway is operated under lease by the
Chicago and North Western Railway Company.
The St. Louis Peoria & North Western Railway, to
which reference was made in the last annual report, is under
construction in the interest of this Company from near
Peoria, to near Girard, Illinois, a distance of 90.6 miles. The
right of way for this railway has been acquired and substantial progress has been Made during the year in its construction. Near Girard the new railway will connect with
the Macoupin County Railway, a proprietary railway ex-
757
tending from Girard to the Company's coal fields in Maeoupin
County, Illinois.
EQUIPMENT TRUST OF 1912.
To make provision for the acquisition of additional equipment, an agreement, sanctioned by the Board of Directors,
was entered into on January 20, 1912, establishing the
Chicago & North Western Railway Company Equipment
Trust of 1912. The agreement provides for the acquisition
of equipment by the Vendors named therein, its conveyance
and delivery to The Farmers' Loan & Trust Company and
Edwin S. Marston, Trustees, and the leasing thereof by this
Company for a term of ten years. The Trust Company tvill
thereupon issue Chicago & North Western Railway Company Equipment Trust Certificates to an amount not to
exceed the cost of the equipment so delivered and leased,
the total of which certificates shall not exceed $10,000,000.00.
Upon compliance with the agreement and leases, in which
provision is made for the retirement of the certificates during
the terms of the leases, title to such equipment will become
vested in this Company.
Contracts have been made by the Vendors for the following
equipment to be delivered by September 1, 1912:
75 locomotives,
55 passenger cars,
3,000 box cars,
1,000 refrigerator cars,
600 furniture cars.
500 flat cars.
LANDS.
During the year ending June 30, 1912, 5,441.84 acres and
83 town lots of the Company's Land Grant lands have been
sold for the total consideration of $144,764.35. The total
number of acres remaining in the several Grants June 30 1912
amounted to 369,595.45 acres, of which 29,369.97 acres were
under contract for sale, leaving unsold 340,225.48 acres.
Appended hereto may be found statements, accounts and
statistics relating to the business of the fiscal year and the
condition of the Company's affairs on June 30 1912.
By order of the Board of Directors.
WILLIAM A. GARDNER,
President.
liti`lcal tables see'under Annual Renorts on a orereOing paged
•(For st,
THE CHESAPEAKE & OHIO RAILWAY COMPANY
THIRTY-FOURTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDED JUNE 30, 1912,
Richmond, Va., September 12, 1912.
To the Stockholders:
The Thirty-fourth Annual Report of the Board of Directors, for the fiscal year ended June 30, 1912, is herewith
submitted.
The average mileage operated during the year by The
Chesapeake and Ohio Lines was 2,263.1 miles, an increase
over the previous year of 33.9 miles. The mileage at the end
of the year was 2,305.5 miles, an increase of 63.9 miles over
mileage on June 30, 1911. See schedule on page 12.
The operations of the Chicago Line (The Chesapeake and
Ohio Railway Company of Indiana) are included in this
report. This line has not yet begun to yield any return to
your Company upon the sums invested in the purchase of its
stocks and bonds. This is due in part to its physical condition at the time it was acquired and to the consequent necessity for steady improvement and excessive maintenance
work, coupled with the necessity for expediting through
traffic in order that the business offered your Company might
be handled. Careful measures have been undertaken for
bringing this line to a much higher state of efficiency and
the outlook upon its future earnings appears more favorable
now than at any time since its acquisition.
RESULTS FOR THE YEAR.
Operating Revenues were
(Increase $1,706,458 53, or 5.24%.)
Operating Expenses were
(Increase $842,066 02, or 3.86%.)
Net Operating Revenue was
(Increase $864,392 51, or 8.01%.)
Taxes were
(Decrease $51,633 19, or 4.84%.)
Operating Income, Taxes deducted, was
(Increase $916,025 70, or 9.42%.)
Miscellaneous Income was
(Increase $247,748 17, or 15.87%.)
$34,289,869 77
22,635,681 04
$11,654,188 73
1,014,219 94
$10,639,968 79
1,808,562 90
$12,418,531 69
832,019 17
Rentals and Other Payments were
(Decrease $334,906 17, or 28.70%.)
Income for the year available for interest was
_$11,616,512 52
(Increase $1,498,680 04, or 14.81%.)
Interest (63.21% of amount available) amounted to
7,342,306 49
(Increase $452,758 84, or 6.57%.)
Net Income for the year, equivalent to 6.81% on capital
stock outstanding, amounted to
$1,274,206 03
(Increase 31,045,921 20, or 32.40%.)
Dividends paid during the year: Four dividends of 1 %
each,aggregating
3,139,627 50
Remainder, devoted to Improvement of physical and other
assets ________________________________________
$1,134,578 53
FINANCIAL.
The outstanding capital .stock was reduced during the
year through the conversion of $200 par value of First Preferred Stock into Common Stock. The changes in funded
debt in the hands of the public during the year were as
follows:
434% Secured Cold Notes,
434% General Mortgage Bonds
4% Greenbrier fly. co. First Mtge. Bonds_
Equipment Trust Obligations
Total
Net increase
Increase. •
Decrease.
$3,500,000 00 • •
374,000 00
$23,000 00
2,118,671 34
$3,874,000 00 $2,141,071 34
1,732,328 66
Other changes in funded debt shown on the balance sheet
of June 30 1912 were:
Increase.
Decrease..
5% First Lien and Improvement Mtg. Bonds_$22,468,000 00
4% Raleigh & Southwestern fly. Co. First
Mortgage Bonds
144,000 00
4% Coal River Ry. Co. First Mtge. Bonds_ _ _
78,000 00
4% Big Sandy fly. Co. First Mtge. Bonds__ _
6,000 00
5% General Funding and Improvement Bonds
$6,787,000 00.
Equipment Trust Notes of Nov. 18 1909
2,170,000 00,
None of the First Lien and Improvement Mortgage Bonds
issued during the year has been sold, all of them, with the
exception of a small amount in the Company's. treasury,
having been deposited as collateral for $19,500,000 of ontstanding 43- per cent Secured Gold Notes. These bonds.
were issued, during the year and were authenticated and
delivered in respect of the acquisition of certain stocks and
bonds, for the payment of certain equipment obligations,
and $5,000,000, face amount, for additions and betterments.
The 4% per cent Secured Gold Notes issued during theyear were sold to provide funds for new equipment and other
additions and betterments; the 43/ per cent General Mortgage Bonds were issued for the building of additional second
track; and the Raleigh & Southwestern, Coal River and Big
S Indy Railway Companies'First Mortgage Bonds issued during:
the year were acquired by your Company in reimbursement
for capital expenditures made for account of those branch
lines and remain in your Company's treasury. The decrease
in the amount of 5 per cent General Funding and Improvement Mortgage Bonds outstanding is due to the pledge of
that face amount of bonds acquired by your Company two
years ago, against which a like amount of First Lien and Improvement Mortgage Bonds have been issued; and other
decreases shown above in amounts of outstanding bonds are
dur to retirement through sinking funds.
Your Company has acquired during the year additional
shares of stock of The Chesapeake & Ohio Equipment.
Corp.oration, the First National Bank Building Corporation
(Richmond, Va.), and of White Sulphur Springs, Incorporated. It has also acquired all the stock of the Logan'
& Southern Railway Company and .of the Silver Grove
Land & Binding Company, and notes of The Chesapeake
& Ohio Equipment Corporation were acquired and pledged
under your Company's First Lien and Improvement Mertgage. Further shares of stock and first mortgage bonds of
The Chesapeake & Ohio Railway Company of Indiana were.
758
THE CHRONICLE
[VOL. Lxxxxv.
tssued in respect of the cost of certain additions and better- r. The changes during the year in the reserve for accrued
ments made. to that line and were pledged under your Com- depreciation of equipment are as follows:
$2,075,866 17
Balance to credit of account June 30 1911
pany's Mist Lien and Improvement Mortgage.
credited during year ended June 30 1912 by charges
A statement of charges to property accounts will be found Amount
_ $729,247 20
to-Operating expenses
16,472 72
Outside operations expenses
on page 16, by referring to which it will be seen that additions
$715,719 92
and betterments were made to the amount of $3,710,498 92. Charges to account for:
Accrued depreciation on equipment
of which $3,550,035.75 was added to cost of road and
retired during year-15 locomo$160,463.17 to cost of equipment. The Chesapeake ez
tives, 358 freight and work cars
$29,983 10
Ohio Equipment Corporation issued $20,000 additional stock
and 2 car floats
Accrued depreciation on cars
and $1,750,000 additional notes for purchase of new equip1,322 68
changed in class during year
31,305 78
ment, all of which was acquired by your Company at par,
714,414 14
$5;910,000 face amount of similar notes having been ac32,790,280 31
quired in July 1911 out of the proceeds of the sale of se- Balance to credit of account June 30 1912
curities in the previous fiscal year. The total property
Despite the remarkable severity of the winter and the ininvestment pertaining to the fiscal year was, therefore,
creased work which resulted, the operating ratio of your
$5,480,498.92.
the revenues, tdn miles and
A schedule of securities owned June 30 1912 will be found Company has decreased, and
efficiency have increased, as an examination of the following
on page 17. (See pamphlet report.?
During the past three years your Company's increase in table of facts will show: 1912.
Increase.
1911.
capital liabilities in hands of the public, its principal acquisi- Operating revenues _____ _.$34,289,869 77 332.583,411
24 $1,706,458 58
1.1,654,188 73 10,789.796 22
861,392 Si
tion of stocks and bonds of other Companies, and its ex- Net operating revenue ______
66.9%
66.%
0.9%•
Operating ratio _ . ___.
penditures for branch line construction, equipment and Second
420.4
477.3
56.9
track mileage
Tons of revenue freight carother additions and betterments have been as follows:
Capital Obligations Issued or
Par Value.
AssumedGeneral Mtge. 43% Bonds__ $3,716,000 00
Fbrt Consol. Mtge. 5% Bonds 2,000,000 00
Convertible 44% Debentures 31,390,000 00
Three-Year 0.6% Collateral
19,500,000 00
Trust Notes
Coal River Railway Co. First
2,310,000 00
Mort gage 4% Bonds
Raleigh & Southwestern By.
350,000 00
Co. First Mtge.4% Bonds
ried one mile...6,692,114,437 6,082,682,596
656
756
Revenue train load, tons
29.2
30.3
Revenue tons per loaded car_
• Decrease.
609,431,841
100
1.1
An extensive yard and terminals have been completed
during the year at Silver Grove, Kentucky, about 12 miles
east of Cincinnati at a total cost of $919,373.66. The inthus afforded for the handling of your
creased facilities'
Company's traffic over the Cincinnati Division have been
much needed owing to the rapid increase in coal tonnage
$59,266,000 00
$55,851,735 00
moved westward and should lead to further economies of
Realizing
• Less:
operation. Yards and terminals at Summit, Ohio, and
Capita Obligations Paid or Purchased
Boston, Indiana, on the Chicago Line have also been comPeninsula Division First Mtge.
8% Bonds maturing Janupleted and put in operation at it, total cost of $701,304.79.
00
$2,000,000
ary 1 1911
Extensions of the Raleigh ez Southwestern, Coal River
Greenbrier & New River RR.
and Guyandot Valley branch lines aggregating 49.5 miles
Co. First Mtge. 5% Bonds
339,000 00
redeemed February 1 1911_
have been completed. The Island Creek Railroad, 6.6 miles,
General Funding and Improvehas been leased and the Logan iSt Southern Railway,
ment Mtge. 5% Bonds_ ___ 6,787,000 00
Greenbrier By.Co. First Mlge.
1.2 miles, has been acquired. The construction of all second
2,000 00
4% Bonds retired Nov.1 911
track authorized has been completed and your Company
Equipment Trust Payments.._ 6,140,000 00
Through Sinking Funds:
now owns two tracks from tidewater at Newport News,
Big Sandy By. Co. First MortVirginia, to Cincinnati, Ohio, a distance of 655 miles, except
.
. 00
,000
157.
gage 4% Bonds...
Coal River By Co. First Mort9 miles in the mountains of West Virginia.
56,000 00
gage 4% Bonds
The coal and coke tonnage was 18,081,677, an increase of
Greenbrier Ry.Co. First Mort60,000 00
gage 4% Bonds
12.3 per cent; other freight tonnage was 8,066,226, a deBy.
Raleigh & Southwestern
crease of 5.2 per cent. Total tonnage was 26,147,903 tons,
6,00000
Co. First Mtge.4% Bonds_.._
an increase of 6.3 per cent. Freight revenue was $27,261,$15,547,000 00
474.53, an increase of 6.5 per cent. Freight train mileage
15,857,801 25
Costing
$39,903,933 75 was 8,846,617 miles, a decrease of 4.6 per cent. Revenue
Acquisitionston miles were 6,692,114,437, an increase of 10 per cent.
Stocks of:
Ton mile revenue was 4.07 mills, a decrease of 3.3 per cent.
The C. &O.By.Co. of Indiana $5,131,500 00
First National Bank Building
Revenue per freight train mile was $3.082, an increase of
180,000 00
Corporation (Richmond,Va.)
11.7 per cent. Revenue tonnage per train mile was 756 tons,
The Hocking Valley Ry. Co__ 7,671,800 00
The Kanawha & Michigan
an increase of 15.2 per cent; including Company's freight,
4,029,600 00
Railway Co
the tonnage per train mile was 788 tons, an increase of
400,000 00
Kanawha Bridge & Term'i Co_
• • 82,800 00
Logan & Southern By. Co_
14.4 per cent. Tonnage per locotnotive, including Company's
00
50,000
•
•
Ky.)
(of
Co.
RR.
Levisa River
freight, was 684 tons, an increase of 10.1 per cent. Revenue
50,000 00
The Levisa River RR.Co.(of Va.)
111,000 00
tonnage per loaded car was 30.3 tons, an increase of 3.8 per
Silver Grove Land & Bldg. Co_
769,400 00
White Sulpher Springs,Incorp.
cent. Tons of revenue freight carried one.mile per mile of
6,000 00
Miscellaneous
road were 2,957,056, an increase of 8.4 per cent.
$18,482,100 00
There were 5,489,040 passengers carried, a decrease of
$18,742,134 39
Costing
2.3 per cent. The number carried one mile was 252,397,519,
Bonds of:
The C. ec 0. Ry.Co. of Indiana
a decrease of 0.3 per cent. Passenger revenue was $5,505,$6,208,000 00
First Mortgage 5%
536.22, a decrease of 0.1 per cent. Revenue per passenger
4,966,900 00
per mile was 2.181 cents, an increase of 0.2 per cent. Num. Costing
of:
Properties
ber of passengers carried one mile per mile of road was
$2,304,359 88
Coal River Railway Co
111,527, a decrease of 1.8 per cent. Passenger train mileage
Raleigh & Southwestern Rail816,562 42
way Co
was 5,104,754, an increase of 4.7 per cent. Passenger
revenue per train mile was $1.079, a decrease of 4.5 per cent;
3,120,929 30
Costing
Construction of:
including mail and express it was $1.266, a decrease of
Extensions of Branch Lines,
3.9 per cent; passenger service train revenue per train mile
$1,362,008 79
costing
Miscellaneous Additions and
was $1.299, a decrease of 4.0 per cent.
10,526,182 88
Betterments, costing
There were 12,475 tons of new rails (3,956 tons 100 pounds
11,888,191 67
(Excluding $1,268,260 89 expended on Chiand 8,519 tons of 90 pounds),equal to 85.5 track miles, used
cago Line to April 30 1912, for which securin " the renewal of existing main tracks.
ities have been acquired.)
The average amount expended for repairs per locomotive
Equipment:
Additional equipment acquired
operated was $2,700.29; per passenger train car $839.24;
$2,161,067 24
(less retirals)
per freight train car $65.33.
(Excluding $51,140 91 expended on Chicago Line to
Mr. Edwin Hawley, a director of your Company, died on
April 30 1912, for which
February 1 1912. He had for several years exerted a powersecurities have been acquired.)
ful influence in behalf of your interests and his connection
Securities of The Chesapeake &
with them has been commemorated by his associates in
Ohio Equipment Corporation
acquired at par:
the resolution preceding this report.
$1,370,000 00
Stock
• General Thos. H. Hubbard was elected a director at the
7,660,000 00
Notes
9,030,000 00
annual meeting on October 24 A911, in place of Mr. Frederic
11,191,067 24
Frank H. Davis was elected a di$49,909,215 60 W. Scott, resigned. Mr.
rector and a member of thrExecutive Committee on FebGENERAL REMARKS.
ruary 15 1912, in place of Mr., Hawley. Mr. H. E. HuntingThe equipment inventory as of June 30 1912 was as ton was elected a member of the Executive Committee on
follows:
February 15 1912, in place of Mr. T. P. Shonts, resigned.
33
528 Inc.
Locomotives owned
On November 1 1911, Mr. M. J. Caples was appointed
255 Dec. 20
Locomotives leased
• Fourth Vice-President, with supervision over the operating
794 Inc.
13
Total
12 and construction departments.
341 Inc.
Passenger train cars owned
19
29 Inc.
Appreciative acknowledgment is hereby made of efficient
Passenger train cars leased
the year of officers and employees.
31 services during
Total -------------- -------------------- --------373 Inc.
By order of the Board of Directors.
19,540 Inc. 1,142
Freight train and miscellaneous cars owned
25,265 Inc. 795
Freight train cars leased
GEO. W. STEVENS, President.
44,805 Inc. 1,937 FRANK TRUMBULL, Chairman.
Total
CHESAPEAKE & OHIO LINES.
GENERAL INCOME ACCOUNT.
For Year end. June 30 1912, and Comparison with Year end. June 30 1911.
Inc. (+) or
1911.
Dec.(-).
1912.
Operating Revenues$27,261,474 53 $25,590,026 83 +$1,671,447 70
From Freight Traffic
-7,395 72
5,512,931 94
5,505,536 22
" Passenger Traffic
-20123
371,338 32
371,137 09
" Transport. of Malls_
+49,113 63
536,907 79
586,021 42
" Transport. of Express
-15,540 79
339,109 92
323,569 13
" Other Transporta'n_
233,096 44
+9,034 94
242,131 38
" Non-Transportation..
Total Oper. Revenues.. $34,289,869 77 $32,583,411 24 +51,706,458 53
Operating Expenses-159,92600
For Maint. Way & Struc's_ $3,981,645 67 $4,141,571 67
+525,634 48
6,198,825 27
" Maint. of Equipment.... 6,724,459 75
+21,628 65
615,338 27
636,966 92
" Traffic
10,503,415 25 10,044,172 98
+459,242 27
" Transportation
789,193 45
-4,513 38
793,706 83
" General
$22,635,681 04 $21,793,615 02
Total Oper. Expenses
P.O. of oper. exp. to earns_
(66.9)
(66.0)
Net Operating Revenue_$11,654,188 73 $10,789,796 22
Income from Other SourcesHire of Equipment
$411,391 54
$279,447 92
Interest from Investments.. 1,083,225 91
954,403 62
Interest, General Account._
49,159,61
46,886 22
Sdndry Items
280,076 97
264,785 84
+5842,066 02
(-0.9)
+$864,392 51
$1,560,814 73
+5247,748 17
$1,808,562 90
+5131,943 62
+128,822 29
+2,273 39
-15,291 13
Gross Income
$13,462,751 63 $12,350,610 95 +51,112,140 68
Deductions from Income$7,045,261 67 $6,506,896 21
+5538,365 46
Interest on Funded Debt
382,651 44
-85,606 62
297,044 82
Int. on Equipment Trusts_
1,065,853 13
-51,633 19
1,014,219 94
Taxes
Rentals Leased Rcads,
816,816 72
-41,452 17
775,364 55
Joint Tracks, &o
246,560 00
-246,560 00
Rental of Leased Equipm't
Loss on C. & 0. Grain Ele56,654 62
55,448 62
+1,206 00
vator
48,100 00
-48,100 00
Other Deductions
Total deductions
Net Income
759
THE CHRONICLE
SEPT. 21 1912.]
$9,188,545 60 59,122,326 12
+$66,219 48
$4,274,206 03 $3,228,284 83 +51,045,921 20
Amount to credit of Profit and Loss June 30 1911
$1,711,100 41
Amount of Net Income for year ended June 30 1912, transferred to Profit and Loss
4,274,206 03
$5,985,306 44
DeductDividend No. 20 of 1 U% paid Sept. 30 1911_ _ _$784,906 25
Dividend No. 21 of 1 ji% paid Dec. 30 1911.... 784,906 25
Dividend No. 22 of 1 X,
,q, paid Mch. 30 1912.... 784,907 50
Dividend No. 23 of 1 % pald June 29 1919
784,907 50
$3,139,627 50
$2,845,678 94
Discount on Secured Gold Notes sold during year and sundry
adjustments
85,280 45
Balance to credit of Profit and Loss June 30 1912
$2,760,398 49
CONDENSED BALANCE SHEET JUNE 30 1912.
ASSETS.
(Excluding Stocks and Bonds owned of the C. & 0. By. Co. of Indiana.)
Property InvestmentCost of Road
$165,183,304 04
Cost of Equipment
33,204,770 06
Brought forward
Funded DebtFirst Consolidated Mtge. 5% Bonds__1939 $29,858,000 00
General Mortgage 43% Bonds__
1992 48,129,000 00
First Mtge., Terminal, &c.,6% Bonds 1922
142,000 00
First Mtge., R. &A. Div.4% Bonds __1989
6,000,000 00
Second Mtge., R. & A. Div.4% Bonds 1989
1,000,000 00
First Mtge., Craig Val. Brch.,5% Bds_1940
650,000 00
First Mtge.,Warm Spgs.Bch.,5% Bds_1941
400,000 00
First Mtge., Kineon Coal Co.,5% Bds _1915
200,000 00
First Mtge., Greenbrier Ry., 4% Bds_1940
1,859,000 00
First Mtge.,PaintCreek Brch.,4%Bds_1945
539,000 00
First Mtge., Big Sandy Ry.,4% Bds 1944
4,672,000 00
First Mtge.,Potts Creek Brch.,4%Bds _1946
600,000 00
Gen. Funding and Impt. 5% Bonds 1929
4,213,000 00
W Ry. 4% Bds_1936
894,000 00
F
klirs
Siver.Ry.,4% Bds_1945
rst
t AM
ittge
el, Co
.a&
lR
2,499,000 00
Convertible 4% Bonds_1930 31,390,000 00
Secured Gold Notes, 4%
1914 19,500,000 00
5152,545,000 00
Equipment Trust Obligations _
6,623,699 25
62,797,C(C Cf
159,168,Cfr :5
First Lien and Impt. Mtge. 5% Bonds (see Contra)--.1930 22,465,000 00
$244,433,6t9 25
Working Liabilities$85,000
Loans and Bills Payable
270,278 88
Traffic Balances
3,813,411 28
Audited Vouchers and Pay-Rolls..
84,941 46
Unpaid Wages_-------147,484 56
Miscellaneous Accounts Payable
1,024,699 90
Interest and Dividends Unpaid
14,174 17
Matured Mortgage and Secured Debt Unpaid
77,471 59
Other Working Liabilities
$5,517,461 84
Deferred LiabilitiesUnmatured Interest and Rents
Taxes Accrued
Sundry Accounts _
$1,799,235 98
571,719 86
127,785 07
$2,498,740 91- 8,016,202 75
Appropriated SurplusAdditions to Property through Income since
June 30 1907
$2,984,365 23
Reserve Invested in Sinking Fund- ------511 01
Reserve Invested in Insurance Fund-10,044 35
Profit and Loss Balance
Total.
$2,994,920 59
2,760,398 49-- 5,755,319 08
5258,205,221 08
This Company is also liable as a guarantor of the following
securities in hands of the publicThe Chesapeake & Ohio Grain Elevator Co., First Mortgage
4% Bonds due 1938....$820,00000
500,000 00
Norf. Term'l & Transp. Co., First Mtge. 5% Bonds due 1948_
Western Pocahontas Corp., First Mtge. 43-% Bonds due 1945 750,000 00
Western Pocahontas Corporation Extension Mtge. No. 1,
- . 83,000 00
4)
,5% Bonds due 1945
Western Pocahontas Corporation Extension Mtge. No. 2,
51,000 00
4!-% Bonds due1946_
Louisville & Jeffersonville Bridge Co. Mtge. (C. & 0.-Prop'n,
4,500,000 00
1-3) 43% Bon s due 1943
Richmond-Washington Co. Collateral Trust Mortgage (C. & 0.
Prop'n, 1-6) 4% Bonds due 1943
9,500,000 00
COST OF PROPERTY JUNE 30 1912.
The Cost of Road as of July 1 1911 was
$162,874,368 29
Added for:
Additions and Betterments during year
ended June 30 1912:
Branch Lines
5236,779 22
5198,388,074 10
Reserved for Accrued Depreciation of
New Second Track
1,451,802 72
Equipment-Cr
Changes of Line and Grade
2,790,280 31
287,015 60
607,629 69
$195,590,793 79 Sidings and Yards
Securities of Proprietary, Affiliated and
Shop Buildings, Huntington, W. Va
1,511 31
Controlled Companies-PledgedShop Buildings, Tools and Yard, Silver
Stocks-See Schedules
Grove, Ky
$15,228,001 12
221,451 82
Bonds-See Schedules
Enlargement of Shops and Round House.
10,739,407 01
Russell, Ky
1,764 83
New Power Housd, Covington, Ky
25,967,408 13
57,811 44
Securities-Issued or Assumed-PledgedEnlargement of Round House, Clifton Forge,
First Lien and Impt. Mtge. 5% Bonds (see
Va
9,969 73
Contra)
Electrification of shops, Clifton Forge. Va__ _
4,756 49
22,300,000 00
Shops, Machinery and Tools
41,310 31
Depots at various places
$48,267,408 13
60,852 30
Miscellaneous InvestmentsAddition to Piers, Newport News, Va
19,450 08
Physical Property
Freight Depot, Charlottesville, Va
*150,607 17
6,100 81
Special Funds, and Funded Debt Issued
Water and Coaling Stations
65,982 35
and ReservedNew Coal Pier, Newport News, Va
207 80
Potts Creek Branch-Cash
Various Other Structures
$39,865 71
40,648 28
Raleigh & Southwestern Ry. Bonds authenTelephone Lines for Dispatching Trains
50,200 45
ticated in advance of construction
Interlocking, Block and other Signals
40,000 00
62,168 34
New Bridges
Cr. 39,292 19
*79,865 71--48,497,881 01 Ventilating Plant, Lewis Tunnel, W. Va
7,743 83
Turntables and Engine House
28,550 61
. Facilities
$244,095,674 80 Fencing
Right of Way
6,628 21
..
Working AssetsReal Estate
172,274 02
Cash in Treasury,
$1,007,448 74
Land Damage Claims
1,870 91
Cash in Transit
949,414 24
Improved Rail and Track Appliances
109,190 82
Cash deposits to pay Interest and Dividends
1,009,512 40
Increasing width of Road-bed and ballasting
Cash deposits to pay Equipment Trust
-Chicago Line
38,863 19
Principal
112,000 00
Cash deposits to pay Matured Bonds and
53,553,242 97
Purchase of securities of subsidiary companies
Equipment Notes
14,174 17
3,00000
Loans and Bills Receivable
303,344 26
53,556,242 97
Traffic Balances
712,913 98
Less
Agents and Conductors
857,761 62
Sundry Credits
3,550,035:75
6,207 22
Miscellaneous Accounts Receivable
664,361 36
Other Working Assets
30,306 10
Cost of road June 30, 1912
$166.424,404[04
Materials and Supplies
Securities in Treasury-UnpledgedStocks-See Schedules
Bonds-See Schedules
Deferred AssetsUnmatured Interest and Dividends
Adyanees to Proprietary, Affiliated and
Controlled Companies
Advances', Working Funds (Fast iIcight
Linos, &C,)
Special Deposits with Trustees, Various
Mortgage Funds
Cash ;and Securities in Insurance Rederve
Fund
Sundry Accounts
Total
$5,661,236 87
53,094,578 82
The Cost of Equipment as of July 1 1911 was
$33,044,306 88
Added for:
Equipment purchased during year ended June 30 1912:
1 Passenger Locomotive
$25,614 05
1 Mikado Locomotive
26,356 22
10 Express Cars
59,062 76
100 Flat Cars
72,173 12
4 Flat Bottom Gondolas
4,479 47
1 Wrecking Crane
13,348 50
190 50-ton Coal Cars (from Island Creek RR.) 169,756 71
2 Passenger Cars (from Island Creek RR.)4,035 84
3 Locomotives (from Island Creek RR.)....
34,001 92
Improvement of Equipment
102,914 15
$2,632,032 92
1,520,901 00
$4,158,933 92
' $13,59543
I43,469 09
36,593 18
27,438 78
10,044 35
963,655 84
$1,194,796 67--14,109,546 28
*258,205.221 08
LIABILITIES.
(Excluding Stooks and Bonds owned of the C. & 0. By. Co of Indiana.)
Capital StockCommon.
$62,792,600 00
First Preferred
3,000 00
Second Preferred
200 00
Common-The Chesapeake & Ohio Railway
Co. of Indiana
$62,795,800 00
1,200 00
562,797,000 00
15
342
16
1
I
$511,742 74
Less:
Value of Equipment retired:
$129,966 57
Locomotives
188,50632
Freight Cars
8,447 70
Work Cars
16,500 00
Car Float
7.858 98-351,279 57
Float
Total Additions for the Year
$160,463 11
Cost of Equipment June 3 1912
$33,204,770 06
Total Cost of Road and Equipment
$199,629,174 10
Amount deducted from Cost of Road and Equipment on
account of difference between face value of securities
of auxiliary companies and the prices at which they
were taken over
1,241,100 00
Cost of Road and Equipment June 30 1912, as per Balance Sheet
$108.388,074:10
Lxxxxv.
THE CHRONICLE
760
The Teanntercial: 'pmts.
COMMERCIAL EPITOME.
COTTON.
Friday Ni ht, July 19 1912.
THE MOVEMENT OF THE CROP, as indicated by our
telegrams from the South to-night, is given below. For the
week ending this evening he total receipts have reached
258,453 bal 's, against 194,505 bales last week and 121,123
bales the previous week, making the total receipts since
Sept. 1 1912 558,970 bales, against 713,110 bales for
the same period of 1911, showing a decrease since Sept. 1
1012 of 154,140 bales.
Friday Night, Sept. 20 1912.
There is growing evidence that consumption in many industries is overtaking production. Premiums are being paid
for prompt delivery of iron and steel. General business is
increasi lg. For some time now the weekly bank exchanges
have shown increases not only over those of last year, but
over those of 1910. In some trades labor is scarce. The
Total.
Receipts atWed. Thurs. Fri.
Sat.
Mon. Tues.
August foreign trade was• unusually large. Money is firm.
Galveston -----18,751 24,792 38,734 26,023 15,102 20,531 143,933
Gold has been imported for the first time in two years. Dis- Texas
City_ __ 1,303
959 2,233 6,414 2,8'72 1,811 15,592
bursements for industrial dividends and interest in October Pt. Arthur, &c
_
. - 398 1,722 (oil) 3,Iiii 1,ii6.5 1,724 10-,.45,1
New Orleans__ __
are expected to show a large increase. The feeling is be- Mobile
722 1,5'75
682 1,65'7
43'7 1,132 6,205
coming increasingly confident in the mercantile community Jacksonville, &c.
37 -- __
145
108
Savannah _ _____ 4,996 8,183 6-,i6t-1 4,50.5 4-055i 5,469 34,408
of the United States.
____ 5,000
Brunswick
12,000
17,000
LARD, after weakening, has latterly become stronger. Charleston ___
1,311 3,816 1,219 1,767 1,288 1,793 11,104
333 1,439 2,385 1,069 1,931 2,211 9,361
__
Western $11 30; Middle Western $11 20; refined Continent Wilmington
_
_
_
___
_
706 1,290 2,81'7 1,526 1,420 1,401 9,160
Norfolk
$11 75; South America $12 45; Brazil $13 45. Speculation N'port News, &c. __
__ -644
__ -644
has latterly been more active and with the tone stronger, New York _
__
29
23
.__
__
13
72
7
Boston
owing to an advance in the hog market and also in corn. Baltimore __
__
___
__
298
298
-- --- --- --- --- -- ---- - -- In the West there has been some increase in the cash demand. Philadelphia-Covering in the January delivery has been rather active, and TritnIR thlm yuppie 98 554 AA 71111 55.81ft 47.133 99 095 40 199 9n1( Ann
Europe and foreign buying has been something of a feature.
The following shows the week's total receipts, the total
Some selling by packers, but mostly by scattered holders.
DAILY CLOSING PRICSS OF LARD FUTURES IN CHICAGO. since Sept. 11912, and tile stocks to-night, compared with
Wed. Thurs.
Tues.
Mon.
Fri.
Sac.
last year:
September delivery_ _ _ _11.10 10.95 10.773 10.77 A 10.90 11.03
11.15 11.00 10.82% 10.82 A 10.92% 11.05
October delivery
1912.
1910.
Stock.
December delivery_ _ _ _10.70 10.65 10.55 10.57% 10.65 i0.771
Receipts to
Sept. 20.
This Since Sep This Since Sep
PORK quiet and firm; mess $20@$20 50, clear 819 75
Week. 1 191.. Week. 11911.
1912.
1911
@$22, family $20 25@$21 25. Beef moderately active and
143,933 372,241 139,461 358,817 180,153 128,089
stronger. Stocks continue light. Mess $17 50@$18, packet Galveston
City
15,592 22,758
16,845
$18@$19, family $21 50@$22, extra India mess $36@, Texas
862
Port Arthur, ace_
2,124
$36 50. Cut meats firm; pickled hams, 10 to 20 lbs., 13© New Orleans _ _ _ _ 10-,434 15,450 14,863 24,741 29,867 32,270
6,205
9,065 7,437 13,978
9,258 12,342
8c.; pickled bellies, 6 to 12 lbs., 14c. Butter, creamery Mobile
/
135
145
145
132
Jacksonville, &c_
713
145
34,408 66,983 94,952 212,699 43,351 72,872
extras, 303/2@31c. Cheese, State whole milk new white Savannah
17,000 22,750 11,325 14,025 14,355 13,197
Brunswick
specials, 16@163c. Eggs, fresh gathered extras, 30@32c. Charleston
11,194 16,584 22,190 34,375 13,240 22,897
OIL.-Linseed firm and moderately active; City, raw ‘Vilmington
_ _ 9,368 15,656 19,360 27,027 13,632 18,623
•
9,160 14,270 16,458 23,047 17,058 13,780
American seed, 69©70c.; boiled, 70@71c.; Calcutta, 78e. Norfolk
N'port News, &c_
644
1,127 ___
Cottonseed oil weaker;summer white 6.40@7.50c. Cocoanut New • York
362 123,540 92,109
3,344
72
2,065
42592
oil continues steady. Spot offerings light. Cochin, 103.0 Boston
Baltimore
2,678
1,110
798
-:iiZ,
1,516
298
103/2c.; Ceylon 9j9/2. Chinawood firm at 9©10c. Corn Philadelphia
2,118
2,438
dom.
for
40@,44c.
steady at 6.10@6.15e. Cod steady at
414.319
473.745
713.110
Total
558.070 327J'13
258.453
though
warehouse
the
quiet,
COFFEE has been rather
In order that comparison may be made with other years,
deliveries have made a pretty good exhibit. No. 7 Rio has
4c. Mild growths have been comparatively we give below the totals at .eading ports for six seasons:
receded to 145
to
fair
demand;
moderate
steadSr, but have met with only
1908.
1907.
1909.
4c. The speculation in coffee futures Receipts at- 1912. I 1911. I 1910.
good Cucuta 16MC4163
has latterly simmered down after the recent activity, and Galveston _ 143,933/ 139,471 123,567 123,567 109,501 73,945
Even
Brazilian
abroad.
and
Texas City,&c 15,592
prices have declined at home
384
641
897
862
1,526
New Orleans_ 10,4 e4 14,863 10,758 18,985 26,191 17,479
markets have fallen with the disappearance of frost. The Mobile
6,674
7,452
13,010
6,311
7,437
6,205
has
54
Paulo
been
Sao
of
State
the
in
temperatures of late
Savannah
34,408 94,952 59,404 84,380 73,743 68,302
Brunswick_ _ _ 17,000 11,325
3,558 14,600 10,850 11,986
to 90 degrees. Stocks at Rio and Santos are far larger than Charleston,
8,144
&c
11,194 22,199 11,711 16,048 12,769
crop
Santos
the
to
damage
recent
The
ago.
year
those of a
Wilmington..
9,368 19,369 16,636 23,981 23,401 23,976
9,203
9,160 16,458
8,902 14,776 14,203
by frost is variously estimated at 10 to 25%. Large trade NorfolkN., dm
108
179
614
N'port
278
78
interests here are bullish. Many others act shy of the buy- All
911
others_
1,992
515
619
707
738
ing side. The following are closing quotations:
.13.75()13.76 Total this wk_ 258,453 327,633 242,558 278,584 286,480 221,112
September.13.85p13.881 January _13.73g13.75 May
13.731(413.74 Since Sept. 1_
October. _ _13.75413.76 February _13.71 13.73 June
558,970 713,110 535.490 715,615 681,637 514.175
13.71(/413.72
__
July
13.73
c
_13.72
__
March
13.75013.76
November
13.74@13.75 August _ _13.716413.72
December 13.7513.76 April
The exports for the week ending this evening reach a total
SUGAR.-Raw has been steady. European beet prices of 172,593 bales, of which 81,064 were to Great Britain,
hlve been easier. Receipts have latterly been light at At- 38,630 to France and 52,879 to the rest of the Continent.
lantic ports. Centrifugal, 96-degrees test, 4.36c.; musco- Below are the exports for the week and since Sept. 11912:
vado, 89-degrees test, 3.86c.; molasses, 89-degrees test,
3.61c. Refined, quiet, though recently there has been a fair
Week e11ing Sept. 20 1912. From Sept. 1 1912 to Sept. 20 1912.
Exported toExported towithdrawal demand reported. Granulated 5.10c.
Export.,
PETROLEUM.-Refined active and firm. The domestic
ContifromContiGreat
Great
nent.
Total.
demand has been very good and the foreign demand would
Britain France neat. Total. Britain. France
, -also have shown increased activity were it not for the high Galveston_ _ 54,348 24,186 30,940 109,474 110,524 34,93- 70,74,
216,200
6,090
ocean freight rates. Barrels, 8.35c.; bulk 4.75c. and cases Texas City_
6,091
6,090
6,090
2,919
8,189
321
4,941
1,259 6,200
Newprrns. 4,941
10.25c. Naphthas firm; 73 to 76 degrees, in 100-gallon Mobile
199
_
19t
190
199
drums, 22c.; drums $8 50 extra. Spirits of turpentine Savannah.. 4,219 6,009
6,00.
10,333
4,324
10,228
7,200
7,200
7,200
Brunswick _ 7,200
41@413/2c. Common to good strained rosin $6 55.
3,400
3,400
3,400 3,400
TOBACCO.-Most of tile business has been in New Eng- Charleston
21.331
3,321
51,473
26,818
New York _ 7,679 2,345 11,821 21,845
_ 2,000
3,008
3,00)
2,000
land binder, of which the supply is small. Buyers show a
8,220
8,718
49:
498
imore_ _
4.55! 5,057
readiness to pay current quotations. Fillers have been Battadelphi
901
900
900
900
quiet. It is understood that the stocks of Pennsylvania and San Fran_
Ohio fillers remaining unsold are rather large. Sumatra
50,68: 107.516 315,710
81,084 38,630 52.871172,503 157,51:
sale
last
inscription
-meets with a fair demand. At the
-73.34' 185,707 458,374
across the water 1,000 bales were sold for shipment to Amer- Total 1011. 81.27, 29.507 80.681 191,47' 190.3`)
bales
3,9i,
Pet
tivian
include
1
)t.
to
Liverpool
Sc
since
.Vote.-N
v
exports
York
last
of
inscription
the
ica at prices somewhat lower than
In addition to above exports, our telegrams to-night also
spring. Havana tobacco meets with a good demand for the
new crop, which is of good quality. The tobacco market give us the following amounts of cotton on shipboard, not
as a whole, is quiet. There are buyers in town, but as a cleared, at the ports named. We add similar figures for
rule they are disinclined to purchase beyond immediate needs. New York.
COPPER has been steady but rather quiet; Lake 17%c.,
On Shipboard, Not Cleared forelectrolytic 17.55©17.60c. The buying has been less acLeaving
Other
GerCoastGreat
tive, both for home and foreign trade. Lead in better demand
Stock.
Total.
Sept. 20 al- Britain. France many. Foreign wise.
at 5.10c. Speller firmer at 7e. here and 73c. in St. Louis.
25,153
4,714
Tin has latterly been in good demand and firm at 493/20. on New Orleans_ _
__ _
469
520
471 3,245
82,252
3,957 1(16,901
18,375
the spot. Iran firm; No. 1 Northern $16 500417 25. Iron Galveston _ _ _ _ 42,042 .10,371 32,156
•
39,673
3,678
3.678
and steel markets have been very strong. In some districts Savannah
• 13,240
Charleston_ _ - _
-_--- "i.66 1,,i056 • 7,858
1-,150 -_-_-_-. -_-_-_-_
pig iron has advanced. Finished t atonal shows a rising Mobile
5,058
-_-_-_ 12,000 12,000
Norfolk
tendency. Large producers are unable to take further busi- New
7,500 116,040
___ _
1,200
800
1,500
York __ _ _ 4,000
ness for 1912 delivery in the chief products of steel. Besse- Other ports... 8,000 ____ 5,000 2,000 - - - - 15,000 35,278
-mer sold at Pittsburgh for next year's delivery at $15 50.
" 151,193 324,552
Total 1912.. 55,683 14,416 42,833 22,044 16,20
7,90) 149,250 265,069
22,488
38,403
At Chicago $17 50 is demanded for foundry. Eastern
68,208
12,243
Total 1911..
Total 1910_ _ 38.390 10.305 23.674 10,082 13,05i, 08.401 13.9.070
Pennsylvania No. 2 advanced to $16 50.
I
SEPT. 91
THE CIIRONICLE
19n.J
761
FUTURES.-The highest, lowest and closing prices at
Speculation in cotton for future delivery has been moderately active at irregular prices. Latterly, however, they New York the past week have been as follows:
have shown an upward tendency. This was owing largely to
0
CO
te
a better spot situation at home and abroad. The soot sales
oz:ioz?.ozrozc4jP(-1.0z1+0.wf.in Liverpool have risen at times to 8,000 and 10,000 bales a
VIIgglElgIggl2g1F7gaglWnIP41WP
moreover, has been active. English
day.
Manchester,
gl gl
have not been buying much cotton it is declared
0W.
spinners
Wel gl
gl gl
for the last few months. It is, therefore, assumed that it
I I
bez),
1.4:.
:?.;:el 66
is about time for them to re-enter the market and buy on
(300
a larger scale. Reports of damage in parts of the belt by
I@ I! I*
I§
IQ
• a,
army worms and boll-weevil have also had more or less
•
6ec,
;1=.6
effect. Some bullish private crop reports have been issued
66
o ;Z!I c0.4 O 1
I I 0.0
6
,,P.
4 6
showing decreases within a month in the condition of the
1-)
11
plant of 5 to 6 per cent. The condition in these reports
66
66 ;F:CJI 0000
have been about 70 per cent. At one time frost was pre413
IC)
1
I0
dicted for Oklahoma. This had some effect, particularly as
frost had undoubtedly invaded the Southwestern corn
M
00(3
WO
CV
section. It was feared for a moment that it might possibly
1 1
strike down in Texas or Oklahoma. Liverpool has now and
.
I
C,:")
66 a.
then been a pretty goocl buyer here. There has been less
jul
pressure from spot interests which recently were large sellers.
10
•
A.
The weekly Government weather report said in substance
0000
LI
1.6
e.
that rain was needed over a considerable aroa of the belt.
60 1 1
00-3
NM
0,
1 MC
Several Memphis and New Orleans newspapers have pubI
I
I
11
=1
that
lished bullish crop reports. One in Memphis stated
66
Gt
000
00
.400
the crop within a month had gone backward 20%, and in the
I@
4
:( '1;5 I@
•a
main agreed with the recent National Ginners' report as to the
00,
unfavorable outlook for the crop, adding that rain would now
0000
66
•
66
(300
.
0id
00
I I um
14,0
m.
10;1 OV
do more harm than good and pointing to a crop about 3,000,11
11
=1
000 bales smaller than that of last year. Large spot interests
00 6:4
0100
CO
mm
66 a.
(30 000.3
of late have been good buyers in Liverpool.. There has been
Ic
I@
I®
10 I§
less pressure to sell the actual cotton there. The export
I@
demand in North Carolina is said to have increased. The
46
:•.1
C,O5 66 a.
co-4 11
domestic demand has also apparently improved in various
1 I I ;g
ON
ON
VV
parts of the South. The reports in regard to the cotton goods
II = II = II • ..• -11
'4 1
0000
0011
business in this country are in the main encouraging. As
46 :a
66 6*6 4, 6iss 6
regards the crop, it is still considered two to three weeks late . 1®
in many sections, so that a comparatively late frost is desirable. A good deal of shedding continues to be reported.
ti
The condition of things east of the Mississippi River is very
II
1= 1= 1=
1=
generally regarded as worse than that west of the river.
z).
L.,
Z1,
0
0
C)
0
0
0
CA
V
03
0)
Shorts have latterly showed a disposition to cover. This has
10 10 1 0, . 10 10 10 10 10 10 10 10 10
contributed materially to the advance in prices. Large bull
interests have given the market support from time to time.
1:-4 it Vet, IC
II It
it iv it
At times Waldorf-Astoria operators have covered. This
includes some of
operthe
these
largest of
ators
who
successful
recently
very
made
a
TIIE VISIBLE SUPPLY OF COTTON to-night, as made
assault on the market, but covered quicky and quietly before many woke up to the fact. On the other'hand, specu- up by cable and telegraph, is as follows. Foreign stocks,
as
well as the afloat, are this week's returns, and conselation is most professional. The movement of the crop in
Texas is large. It is expected to increase materially in quently all foreign figures are brought down to Thursday
other parts of the belt in the near future. As the crops in evening. But to make the total the complete figures for
India, Egypt and Russia are larger to all appearance than to-night (Friday), we add the item of exports from the
those of last year, it is argued that during the present season United States, including in it the exports of Friday only.
September 201912.
1911.
1910.
1909.
Europe will be more independent of America for cotton sup- Stock
at Liverpool
bales. 516,000 274,000 271,000 676.000
plies than it was last season. At the same time it is insisted Stock at London
6,000
8,000
7,000
8,000
63,000
22,000
17,000
45,000
that Texas is going to raise a larger crop than last year. Stock at Manchester
To not a few it seems perfectly clear that the crop his season
Total Great Britain stock
585,000 304,000 295,000 729,000
9.000
14.000
11,000
12,000
will be of a size second only to that of last year, and may Stock at Hamburg
.Stock at
158,000
32.000
27,000
63,000
approximate 14,000,000 bales-some say 14,750,000 to 15,- Stock at Bremen
Havre
100,000
42,000
73,000
123,000
2,000
2,000
2,000
3,000
000,000 bales-which, with the reserves carried over from Stock at Marseilles
at Barcelona
14,000.
14,000
10,000
14,000
last season it is argued will be more than requisite to meet Stock
Stock at Genoa
10,000
7,000
4,000
10,000
the demands of the world. To-day prices advanced on firm Stock at Trieste
6,000
7,000
4,000
4,000
cables, reports of storms off Florida and in Texas, and covTotal Continental stocks
299,000
113,000
136,000 229,000
ering of shorts. English and Continental spinners are said
Total European stocks
885,000 417,000 431,000 958,000
to be sold ahead for 5 or 6 months. Spot cotton closed at India
afloat for Europe_ _ _
69,000
29,000
75,000
41,000
11.85c. for middling uplands, showing a decline for the week Amer.cotton
cotton afloat for Europe
306,954
431,097 266,638 323,170
Egypt,Brazil,&c.,alit.for Europe
24,000
25,000
36,000
17,000
of 5 points.
Stock in Alexandria, Egypt
49,000
34,000
39,000
43,000
The rates on and off Middling, as established Sept. 11 1912 Stock
in Bombay, India
402,000 373,000 328,000
135,000
475,745 414,319 257,471
469,803
by the Revision Committee, at which grades other than Stock in U.S. ports
Stock in U. S. Interior towns_ _ _ _ 184,619
217,461
109,861
185,626
middling may be delivered on contract, are as follows:
U. S. exports to-day
24,329
19,156
38,636
17,421
TQ 10 ."
T5 ip ."
16 :@
"
."
T8 I@ IT) T8
15
".
Ti
=1
T@ Ti
000
I0
;1
Tg
T@ 15
I® I® „. TZ T@ ."
TZ i® TZ :C(.6
II"II tt II CO
T•gt 61
Fair
c 1.50 on
Strict mid. fair_ ___1 33 on
1.10 on
Middling fair
Strict good mid_ __0.68 on
Good middling_ ___0.96 on
Strict middling„..0.29 on
c Basis
Middling
0.35 off
Strict low mid
0.80 off
Low middling
Strict good ord____1.40 off
Good ordinary ____2.15 off
Strict g'd mid. tgd.0.35 on
Good mid tinged_c_ Even
Strict mid. tinged_ _0.15 off
Middling tinged__ _0.30 off
Strict low mid. tIng.0.80 off
Low mid. tinged_ _1.90 off
Middling stained...0.90 oil
The official quotation for middling upland cotton in the
New York ma ket each day for the past week has been:
Sept. 14 to Sept. 20Middling uplands
Sat.
11.90
Mon. Tues. Wed. Thurs. Fri.
11.75 11.75 11.90 11.h5 11.s5
NEW YORK QUOTATIONS FOR 32 YEARS.
The quotations for middling upland at New York on
Sept. 20 for each of the past 32 years have been as follows:
1912_0
1911
1910
1909
1908
1907
1906
191)5
11.4511904_0
11.20 1903
13.75 1902
13.00 1901
9.50 1900
_12,25 1899
9.75 1898
10.85 1897
8.62
8.25
6.69
8.25
7.31
8.38
10.44
11.25
11.1011896_0
11.75 1895
9.00 1894
8.38 1893
10.50 1892
6.44 1891
5.62 1890
6.8811889
1888..c
10.44
1887
.__ 9.75
1886
9.38
1885
10.06
1884
_ 10.38
1883
10.38
1882
12.44
1881
11.88
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Saturday- ') day __
'Cu '2gday
AVednealay.
Thurslay
Friday
Quiet
Quiet 15 pts deo
Quiet
Quiet 15 pts adv__
iot 5 pts dcc _
iet
r
Total
Futures
Market
Closed.
SALES.
Spot. Contect Total.
Steady........
Steady
Steady
Steady
Steady
-ida
..
714
267
-100
81
100
Total visible supply
2,419,647 1,960,033 1,581,606 2,190,020
Of the above, totals of American and other descriptions are as follows:
AmericanLiverpool stock
bales. 362,000
132,000
190,000 584,000
Manchester stock
14,000
14,000
35,000
46,000
Continental stock
101,000
266,000
66,000
197,000
266,638 323,170
American afloat for Europe
306,954 431,097
257,471
U.S. port stocks
475,745 414,319
469,803
113111: zlogi
109,861
U,S. interior stocks
185,626
6
38,636 • 17,421
U. S. exports to-day
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stoCk_
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
1,685,647 1,294,033
154,000
6,000
17,000
33,000
69,000
24,000
49,000
402,000
142,000
8,000
8,000
47,000
29,000
25,000
34,000
373,000
754,000 666,000
1,665,647 1,294,033
977,606 1,812,020
81,000
7,000
3,000
35,000
75,000
36,000
39,000
328,000
92,000
8,000
10,000
32,000
41,000
17,000
43,000
135,000
604,000 378,000
977,606 1,812,020
2,419,647 1,960,033 1,581,606 2,190,020
Total visible supply
6.80d.
6.79d.
7.82d.
Middling Upland, Liverpool
7.31d.
11.00c.
13.70c.
Middling Upland, New York_ _ _ 11.85c.
13.75c.
1014d.
10 34d. 13 5-16d. 10 5-16d.
Egypt, Good Brown, Liverpool
10.40d.
10.75d.
Peruvian, Rough Good ,Liverpool 10.00d.
8.50d.
6 4d. •
6 lid.
Broach, Fine, Liverpool
7 %d.
6%d.
Tinnevelly, Good, Liverpool_ _ _ _ 6 3-16d. 6 7-16d.
7d. 6 5-16d.
Continental imports for the past week have been 64,000
-367 bales.
The above figures for 1912 show an increase over last week
i-66
$1 of 177,730 bales, a gain of 459,614 bales over 1911, an excess of 838,041 bales over 1910 and a gain of 229,627 bales
814 over 1909.
Movement to September 22 1911.
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.
12.; •
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Movement to September 20 1912.
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*Last year's figures are for Louisville, Ky.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
oerland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for
the week and since Sept. 1 in the last two years are as follows:
----I911-------1912---Since
Since
Sept. 20Week. Sept. 1.
Week. Sept. 1.
Shipped1,434
z,820
2,817
1,122
Via St. Louis
520
a2,400
87
2,866
Via Cairo
50
100
100
50
Via Rock Island
707
478
291
1,738
Via Louisville
1,102-- -183
1,10227
Via Cincinnati 1,284
2,736
2,025
Via Virginia points _
541
1,110
829
1,553
Via other routes, &c
Total gross overland
Deduct shipmentsOverland to N. Y., Boston, ho_
Between interior towns
i Inland, &c., from South
Total to be deducted
Leaving total net overland"
__
3,531
10,045
5,961
11,126
370
324
1,917
1,941
617
4,860
575
427
1,758
1,584
641
4,745
2,611
7,418
2,760
6,950
920
2,627
3,201
4,176
• Including movement by rail to Canada. a Revised.
The foregoing shows the week's net overland movement
has been 920 bales, against 3,201 bales forothe week last
year, and that for the season to date the aggregate net overland exhibits a decrease from a year ago of 1.549 bales.
-----1911
1912
Since
Since
In Sight and Spinners'
Week.
Sept. 1.
Sept. 1.
Takings.
Week.
713,110
558,970 327,633
258,453
Receipts at ports to Sept. 20
3,201
4,176
920
2,627
Net overland to Sept. 20 _
35,000
106,000
160,000
South'n consumption to Sept. 20_ 56,000
315,373
41,877
721,597
87,583
365,834
81,628
823,286
117,024
Came into sight during week_ _ _357,250
Total In sight Sept. 20 -
809,180
427,462
_
940,310
Total marketed
Interior stocks In excess_
31,108
56,542
71,061
North'n spinn's takings to Sept. 20 20,433
Movement into sight in previous years.
Bales.
Since Sept. 1Bales.
Week309,124 1910-Sept.23
697,128
1910-Sept. 23
380,084 1909-Sept.24
1,005,956
1909-Sept. 24
385,948 1908-Sept.26
934,919
1908-Sept. 26
QUOTATIONS FOR MIDDLING COTTON AT OTHER
-Below are the closing quotations of middling
MARKETS.
cotton at Southern and other principal cotton markets for
each day ef the week:
Closing Quotations for Middling Cotton oneek endin
Sept. 20.
Sat'day. 1 Monday. Tuesday. Wed'day. Thursd'y. Friday.
,,
11 M
Galveston
New Orleans... 11 7-16
Mobile
11 5-16
Savannah
11'%
Charleston __
11 M
Wilmington - - _ 113%
Norfolk ______ -_ 113%
11 M
Baltimore
12.15
Philadelphia _
11 11-16
Augusta__
Memphis _____. 11 %
St. Louis
11 %
11 %
Houston
:
11 1,,
;11 11-16
11 M
11 5-16
113%
11 7-16
11M
11'%
113%
12.00
11'%
113%
11'%
113%
11 44'
11 9-16
11 %
3
11 3-16
113%
117-16
11 7-16
i1'%
11 M
12.00
119-16
113%
11'%
11 9-16
11%
113%
11 3-16
119-16
113%
113%
11'%
11 X
12.15
1131
11'%
11'%
11 %
11 1111
11 3-15
Sept.
0--Range ______
--111.40 -- 11.56 --.11.44
Closing
_ 11.42-.43 11.24-.27 11.31-.33 11.54 -- 11.51 -,11.48-.51
Oct.1
Range
11.58-.71 11.32-.531 11.31-.50 11.40-.56 11.47-.60 11.41-.59
Closing__ -11.57-.58 11.32-.33'11.41-.42 11.54-.55 11.51-.52 11.56-.57
Nov.
1
---Range
--Closing
__ 11.65-.67 11.42-.44 11.46-.48 11.63-.65 11.59-.61 11.67-.69
Dec.1
Range11.67-.83 11.41-.65 11.42-.63 11.52-.68 11.58-.75 11.56-.74
Closing_ _____ 11.67 - 11.44-.45 11.51-.52 11.67-.68 11.63-.64 11.70-.71
Jan.
Range ------11.72-,9& 11.46-.71 11.48-.68 11.56-.74 11.65-.811 11.62-.80
__ 11.72-.73 11.48-.49 11.56-.57 11.73-.74 11.69-.70 11.78-.77
Closing
Fab.
--Range
-1
11.75-.77 11.50-.52 11.58-.60 11.75-.77 11.71-.73 11.78-.80
Closing_
Mch.11.88-.06 11.65-.86 11.67-.81 11.75-.90 1.182-.981 11.82-.98
Range
11.88-.90 11.65-.66 11.74-.75 11.90-.91 11.86-.87,11.94-.95
Closing__
May1
Range11.99-15 11.74-.95 11.77-.95 11.87-.01 11.93-.08 11.95-.00
11.98-.99 11.77-.78 11.85-.86 12.00-.02 11.97-.98,12.04-.05
Closing__ .._
July---Range __
12.08-.10 11.86-.87 11.95-.96 12.10-.12 12.08-.08 12.14-.16
Closing__
ToneFirm.
Quiet.
Easy. Steady. Steady. Steady
Spot __
Steady. Steady. Steady. Steady. Steady. Steady.
Options
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:
October 1 to September 1.
2 00 bke
cji-en,P.4.20 t,..
.
Fi g aili-C.E111.
yi.tgiti
<4 0
Sat'day, Monday,i Tuesday, Wed'day. Thursd'y.1 Friday,
Sept. 14. Sept. 16. Sept. 17. Sept. 18. Sept. 19.; Sept.20.
„
i
lt
122
":
1"
Al
::41 5
) §§ 2.?1°)T4tiLr+3
)TIRtIfigt-i
o'dgg,.5 Co
Co
r=1`J5)4
. -4-,4-4.44-4.3>IgE2(.36(.51z
1
, goxt5zoloalrlizra,
111111111111111111111111111111111 74
_4
NEW ORLEANS OPTION MARKET.
-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the ast week have been as follows:
,,r
h
cc
T Ittln nnolr
-[VoL. uxxxxv,
THE. CHRONICLE,
762
11 %
11 %
11 5-16
11'%
113%
113%
11'%
11 X
12.10
119-1
113%
11 %
11 %
11 7-16
11 5-16
i1'%
113%
113%
1i /
1194
12.10
11'%
113%
113%
111)-16
111A
111A
ii 3%
Great Britain.
Continent.
Total.
For 1911-12.
10,395,000
Takings by spinners
bales
4,129,000
6,266,000
490.5
Average weight of bales_ _ _ _lbs.
484
500
Takings in pounds
2,064,500,000 3,032,844,000 5,097,344,000
For 1910-11.
Takings by spinners
bales
3,642,000
5,617,000
9,259,000
Average weight of bales__ __lbs.
485.2
501
475
Takines In Pounds
1.824_842.000 2.888M75.000 44027i7.000
Accoeding to the above, the average weight of the deliveries in Great Britain is 500 lbs. per bale this season, against
501 lbs. during the same time last season. The Continental
deliveries averaged 484 lbs., against 475 lbs. last year, and
for the whole of Europe the deliveries average 490.5 lbs. per
bale, against 485.2 lbs. last season. Our dispatch also
gives the full amount for this year and last year in bales
of 500 lbs.
October 1 to September 1.
Bales of 500 lbs. each.
000s omitted.
1910-11.
1911-12.
Great ContiGreat ContiBrit'n. nent. Total. Brit'n. nent. Total.
1,141
8,985
Spinners' stock October 1_ _ _ _
Takings to September 1
312
4,129
1,104 1,416
6,066 10,195
169
3,649
972
5,336
Supply
Consumption, 48 weeks
4,441
3,840
7,170 11,611
5,280 9,720
3,818
3,430
6,308 10,126
5,040 8,470
Spinners' stock September 1..
In
In
In
In
In
In
In
In
In
In
In
Week's Consumption.
000s omitted.
October
November
December
January
February
March
April
May
June
July
August
601
1;890
2,491
388
1,268
1,656
80
80
80
80
80
80
80
80
80
80
80
110
110
110
110
110
110
110
110
110
110
110
190
190
190
190
190
190
190
190
190
190
190
60
70
74
74
74
74
74
74
74
74
74
105
105
105
105
105
105
105
105
105
105
105
165
175
179
179
179
179
179
179
179
170
179
PRODUCTION OF COTTON IN 1911-12 APPOR-The subjoined statement of the
TIONED TO STATES.
yield of cotton in each producing State in 1911-12 is based
upon investigations made by us since the close of the season.
The commercial crop reached a total of 3,911,000 bales more
than in 1910-11 and was 2,214,000 bales greater than the
previous record yield for 1908-09. The average yield of
lint per acre was 209 lbs. the past season, or 41 lbs. more
than in 1910-11. The production by States for the last
five seasons has been as follows:
PRODUCTION
1911-12.
1910-11.
Bales.
Bales.
777,000
North Carolina.. 1,165,000
South Carolina_ _ 1,725,000 1,244,000
2,820,000 1,881,000
Georgia
95,000
680300
Florida
1,730,000 1,230,000
Alabama
Mississippi
1,225,000 1,271,600
400,000
274,000
Louisiana
Texas
4,268,000 3,135,000
838,000
Arkansas
945,000
340,000
Tennessee
455,000
978,000
1,060,000
Oklahoma
80,000
Missouri, &a_ _ _ _
125,000
16,000
Virginia
30,000
BY STATES.
1908-09,
1909-10.
Bales.
Bales.
725,000
680,000
1,188,000 1,290,000
1,032,000 2,015,000
75,000
64,000
1,088,000 1,385,000
1,137,000 1,745,000
528,000
286,000
2,653,000 3,908,000
728,000 1,020.000
350,000
253,000
708,000
587,000
66,000
62,000
13,000
14,000
1907-08.
Bales.
675,000
1,205,000
1,920000
82,000
1,202,000
1,495000
700,900
2,309,000
775,000
290,000
898.000
41,000
10,000
Total
.16,043,000 12,132,000 10,651,000 13,829,000 11,582,000
203 lbs.
170 lbs
153 lbs.
168 lbs.
Average per acre
209 lbs.
EXCHANGE.-Proposed New
to have been the most larg -ly
attended meeting the body has ever held, the New York
Cotton Exchange members discussed yesterday afternoon
the proposal to erect a new building. No definite action was
taken, a recess being taken until next Tuesday afternoon.
NEW YORK COTTON
Building.-At what was stated
SEPT. 2[ 1t12]
THE CHRONICLE
WEATHER REPORTS BY TELEGRAPH.-Telegraphic
advices to us this evening from the South denote that rain
has been quite general during the week and beneficial for
the most part. Picking has made good progress and the
movement of cotton to market is becoming liberal.
Galveston, Tex.-There has been rain on two days during
the week,-the rainfall reaching forty-four hundredths of
an inch. The thermometer has averaged 85, the highest
being 93 and the lowest 76.
Abilene, Tex.-There has been rain on two days of the
week, the rainfall being thirteen hundredths of an inch.
Minimum thermometer 60.
Brenham, Tex.-We have had no rain during the week.
The thermofneter has ranged from 70 to 100, averaging 85.
Cuero, Tex.-It has rained on one day of the week, the
rainfall being twenty hundredths of an inch. Average
thermometer 85, highest 102, lowest 68.
Dallas, Tex.-There has been rain on two days during the
week, the rainfall reaching eighty-four hundredths of an
inch. The thermometer has averaged 79, the highest being
98 and the lowest 60.
Henrietta, Tex.-There has been rain on four days of the
week, the rainfall being one inch and ten hundredths. The
thermometer has averaged 75, ranging from 56 to 94:
. Huntsville, Tex.-It has been dry all the week. The thermometer has ranged from 68 to 98, averaging 83.
Kerrville, Tex.-There has been good rain on one day during the week, the rainfall reaching one inch and twelve
hundredths. Average thermometer 81, highest 98, lowest
64.
Lampasas, Tex.-There has been no rain the past week.
The thermometer has averaged 79, the highest being 98 and
the lowest 60.
Longview, Tex.-There has been light rain On one day of
the week, the rainfall being twelve hundredths of an inch.
The thermometer has averaged 78, ranging from 62 to 94.
Luling, Tex.-There has been rain on one day during the
week, to the extent of fifty hundredths of an inch. The
thermometer has ranged from 72 to 100, averaging 86.
Nacogdoches, Tex.-There has been no rain during the
week. Average thermometer 77, highest 96 and lowest 58.
Palestine, Tex.-There has been rain on two days of the
week, the precipitation reaching eighty-four hundredths of
an inch. The thermometer has averaged 80, the highest
being 98 and the lowest 62.
Paris, Tex.-There has been light rain on one day of the
week, the rainfall being ten hundredths of an inch. The
thermometer has averaged 76, ranging from 56 to 96.
San Antonio Tex.-We have had rain on one day the past
week, the rainfall being sixty-four hundredths of an inch.
The thermometer has ranged from 72 to 98, averaging 85.
Weatherford, Tex.-There has been rain on one day of the
week, the rainfall reaching twenty-eight hundredths of an
inch. Average thermometer 79, highest 96, lowest 62.
Ardmore, Okla.-There has been rain on three days during
the week, the rainfall reaching two inches and sixty-six
hundredths. The thermometer has averaged 76, the highest
being 98 and the lowest 54.
, Marlow, Okla.-There has been rain on four days of the
week,the rainfall being two inches and sixty-five hundredths.
The thermometer has averaged 71, ranging from 54 to 88.
, Tulsa, Okla.-It has rained on four clays of the week,
with rainfall to the extent of three inches and fifty hundredths.
The thermometer has ranged from 51 to 80, averaging 66.
Alexandria, La.-There has been rain on one day during
the week, the rainfall reaching ten hundredths of an inch..
Average theremometer 80, highest 97, lowest 64.
New Orleans, La.-There has been rain on three days of
the week, the precipitation reaching eighteen hundredths
of an inch. The thermometer has averaged 84, the highest
being 93 and the lowest 74.
Shreveport, La.-There has been no rain during the week.
The thermometer has averaged 80, ranging from 62 to 98.
Eldorado, Ark.-It has rained on one day of the week, the
precipitation reaching eighty-seven hundredths of an inch.
The thermometer has ranged from 56 to 94, averaging 75;
Helena, Ark.-Worms and shedding are complained of.
It has rained on three days of the week, the rainfall being
two inches and fifty hundredths. Average thermometer
75, highest 89, lowest 52.
Little Rock, Ark.-There has been rain on two days of the
week, the precipitation reaching fifty-six hundredths of an
inch. The thermometer has averaged 73, the highest being
89 and the lowest 57.
• Columbus, Miss.-We have had rain on four days the past
week, the rainfall being one inch and seventy-three hundredths. The thermometer has averaged 77, ranging from
57 to 96.
Meridian, Miss.-It has rained on five days of the week,
the precipitation reaching two inches and eight hundredths.
TheAhermometer has ranged from 62 to 90, averaging 76.
Vicksburg, Miss.-It has rained on one day of the week to
the extent of eleven hundredths of an inch. Average
thermometer 78, highest 91, lowest 63.
Mobile, Ala.-There has been rain on four days the past
week. The rainfall reached three•inches and twenty-nine
hundredths. The thermometer has averaged 78, the highest
being 88 and the lowest 68. Crop reports are good.
Montgomery, Ala.-Rain has fallen on three days of the
past week, the rainfall reaching two inches and three hun-
763
dredths. The thermometer has averaged 76, ranging from
61 to 91.
Selma Ala.-We have had rain on three days the past
week, the rainfall being one inch and eighty-two hundredths.
The thermometer has ranged from 61 to 87, averaging 76.
Augusta, Ga.-There has been rain on three days of the
week, the rainfall reaching thirty-two hundredths of an
inch. Average thermometer 78, highest 94, lowest 61.
Savannah, Ga.-There has been rain on two days during
the week, the precipitation reaching fourteen hundredths of
an inch. The thermometer has averaged 82, the highest
being 93 and the lowest 70.
Washington, Ga.-There has been rain on one,day of the
past week, the rainfall reaching seven hundredths of an inch.
The thermometer has averaged 77, ranging from 59 to 95.
Charleston, S. C.-We have had rain on one day during
the week, the rainfall being seventy-nine hundredths of an
inch. The thermometer has ranged from 68 to 92, averaging 80.
Greenville, S. C.-There has been rain on three days during the week, the precipitation being thirty-three hundredths
of an inch. Average thermometer 75, highest 88, and
lowest 47.
•
Spartanburg, S. C.-There has been rain on two days
during the week, the precipitation being twenty-nine hundredths of an inch. The thermometer has averaged 75, the
highest being 93, and the lowest 51.
Gainesville, Fla.-Rain has fallen on three days of the
week, the rainfall reaching one inch and thirty-three hundredths. The thermometer has averaged 82, ranging from
69 to 93.
Madison Fla.-There has been one shower during the
week. The thermometer has ranged from 73 to 90, averaging 82.
Tallahassee, Fla.-Rain has fallen on one day of the week.
The rainfall reached thirty-five hundredths of an inch.
Average thermometer 78, highest 87, lowest 68.
Dyersburg, Tenn.-There has been rain on one day during
the week, the rainfall reaching one inch and seventy hundredths. The thermometer has averaged 70, ranging from
49 to 90.
Memphis Tenn.-There has been rain on four days during the week, the rainfall being sixty-five hundredths of an.
inch. The thermometer has ranged from 58 to 87, averaging 75. Army worms are doing some damage.
Nashville, Tenn.-Rain on two days of the week, to the
extent of one inch and forty hundredths. Average thermometer 70, highest 90, lowest 50.
Charlotte, N. C.-There has been rain on one day during
the week, the precipitation being eight hundredths of an
inch. The thermometer has averaged 74, the highest being
89 and the lowest 59.
- • (:.1 • •
Raleigh, N. C.-Rain has fallen on three days the past
week, the rainfall reaching one inch and fourteen hundredths.
Thermometer has averaged 76, ranging from 62 to 90.
INDIA COTTON MOVEMENT FROM ALL PORTS.
Eept. 19.
Receipts at-
1912.
1911.
1310.
Since
Week. 1 Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
8.000
Bombay
17.000
I
Great
Great Conti- Japan
Britain. nera. &China Total. Britain.
Bombay1912
1911
1910
Calcutta1912
1911
1910
Madras1912 '
1911
1910
All others
1912
1911
1910
Total1912
1911
1910 ____
6.0001
1
17,000
..I 6,001
4,0001 4,000
1,0001 18,000
I
I
1.0001
1.0001
1,000l
1.0001
II
4,0001
5,000J
1,000
11,000
6,000
20.000
3.000
13,000
Since September 1.
For the Week.
Exports
from-
11,000
5,000
Japan
Continent. & China. Total.
17,000
5,000
38,000
1,000
5,000
8,000
18,000
10,000
46,000
2,000
2,000
3,000
2,000
2,000
3,000
1,000
1,000
1,000
2,000
1,000
2,000
2,000
4000
5,000
1000
17,000
17.000
9,000
17,000
17,000
9,000
1,000
1,000
1.000
1,000
11,000
4.000 10,001
1.000 21,00
37,000
25,000
52,000
1.000
1,000
5,00(
8,00C
38,000
31,000
60,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
• Alexandria. Egypt.
Sept. 18.
Receipts (cantars)This week
Since Sept. 1
Exports (bales)To
To
To
To
Liverpool
Manchester
Continent & India__ _
America
1912.
50,000
108,000
1911.
38,000
59,000
70,000
120,090
This
Since
This Since
This Salle
week. Sept. 1. week. Sept. 1. week. Sept. 1.
4,000
1,000 3,250
2,250 10,000
2,900
3.250
2,750
7,000
3,250
9,750
2,000
2,750
2,750
3,750
500
6,500
2,750
8,500
1,500
3,250 20,150 6,000 22,000 9,750 19,250
Total exports
lbs. Egyptian bales weighabout 750 1-6s.
cantar is 99-
The statement shows that the receipts for the week were
50,000 cantars and the foreign shipments 3,250 bales.
764
[VoL. Lxxxxv.
THE CHRONICLE
WORLD'S SUPPLY AND TAKINGS OF COTTON.
The following brief but comprehensive statement indicates
at a glance the world's supply of cotton for the week and since
Sept. 1 for the last two seasons, from all sources from which
statistics are obtainable, also the takings, or amounts gone
out of sight, for the like period:
--Cotton Takings.
1912.
1911.
Week and Season.
Week.
Season.
Week.
Season.
Visible supply Sept. 13 _____ _ _ 2,241,917
1,723,326
Visible supply Sept. 1
2,135,485
1,603,418
American in sight to Sept. 30... 357,250
809,180 427,462
940,310
Bombay receipts to Sept. 19 ___
8,000
17,000
5,000
11,000
Other India ship'ts to Sept. 19 __
5,000
6,000
20,000
21,000
Alexandria receipts to Sept. 18_
8,000
5,000
14,000
7,800
Other supply to Sept. 18* _____
5,000
9,000
15,000
12,000
Total supply
DeductVisible supply Sept. 20
2,629,167 3,010,665 2,171,788 2,595,528
2,419,647 2,419,647 1,960,033 1,960,033
Total takings to Sept. 20 __
209,520
591,018 211,755
635,495
Of which American
• 156,520
509,018 169,755
498,695
Of which other
53,000
82,000
42,000
13s,s00
• Embraces receipts in Europe from Brazil, Smyrna, West Indies, &o.
MANCHESTER MARKET.-Our report received by cable
to-night from Manchester states that the market is firm for
both yarns and shirtings. Merchants are not willing to pay
present prices. We give the prices for to-day below and
leave those for previous weeks of this and last year for
comparison.
1911.
1912.
.32s Cop
Twist,
83. lb,. Shirt- ']orn
Mos, common Mid.
to finest.
Upl's
831 his. .Chirt- Cot'
,
ings, common Mid.
to finest.
UN's
32s Cop
Lwist,
Spw.
Saturday.
-Market. 1
Quiet.
12:15
P.M.
Monlay.
Tuesday.
Easier.
Fair
business
ding.
Wednesday Thursday.
Easier.
Fair
business
doing.
Fri lay.
Wet.
Mid.Upl'ds.
6.80
6.72
6.72
6.76
6.82
6.79
Sales
Spec.Scexp.
5,000
500
9,000
500
8,000
500
8,000
500
'10,000
500
6,000
500
Futures.
Quiet at
Market
1 414 pts.
opened
advance.
Steady at
7 points
Quiet at
614 pts.
decline.
Maryet, 1 Easy at
Quiet at Steady at
4
%02 pts 7%08 pts. 1W-60.4
P.M. I ad-ance.
advaace.
Steady at
102 pts.
necline.
Quiet at
1 point
advance.
Steady at Quiet at
104% pts. 3685 pts.
ft('-st.v.e
ad !aloe.
Quiet
2 points
decline.
Feverish
104 pts.
advance.
The prices of futures at Liverpool for each daSr. are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
Sept. 14
Sat.
Mon.
I
Tues.
Wed.
Thurs.
Fri.
to
Sept. 20 12%1 12% 12%i 4
12%1 4 1234, 4 121.f 4 1123/I 4
pin. p.m. p.m.;p.m. p.m.!p.m. p.m. p.m. p.m. p.m. p.m. p.m.
;---Sept
44 16.43 % 40 M 50
51 34 54 34 60
6 51
59 34 57 % 55%
Sept.-Oct. ____ 6 39
32 16 31 % 28 34 35 34 36 14 40 45 14 44
4334 41 14
28
24 ;6 - 31 34 32
Oct.-Nov_
6 35 34 29
39 h 39 37
353441
Nov.-13ee. ____ 6 31 24 16 23 35 19 h 28 26 16 30 353234 33 31 16
26 % 30 35
Dec.-Jan ____ 6 31
24 16 23 3419 34 28
33% 33 31 %
25, 2134 2034 27 2734 31 36 34 h 34
Jan.-Feb ____ 6 32
323-4
28 •32 37 • 35 14 33 1i 333-4
Feb.-Mch. ____ 6 33
2634 25 34 2134 28
Mali -Apr.
% 29
6 3434 27 26%
2934 33 37.16 36 36 34 34
30 16 34 38 % 37 37 36
Apr.-May. ____ 6 36
29
28
2334 30
38
37
May-June ___._ 6 37 36 29
24 % 31
3134:35 39 14 38
31
29
June-July ____ 6 37
24 14 30 14 31 134 % 39 14 38 373,4 37
__
36 LK 29 % 18 v., 24
30
30 16 34 39 37 ;6 37 36
•
BREADSTUFF.
Friday Night, Sept. 20 1912.
Flour has been reported active at the Northwest, though
in'some
cases
at
lower
prices.
The sales here have been as a rule
Aug.
7.37 9 5-16 0 10% 5 73010 6
2 Loh 0 1116 6 43011 5
6.95 comparatively small. At best they have been but moderate.
6.96 93/I 0 10% 5 8 010 7% 6.77 Buyers as a rule are
9 931 0 103/I 6 4 011 4
purchasing
only from harid to mouth,
6.7 93/I
0 1035 7316810731 6.69
16 93/I 0 103/I6 3 @114
6.60 9%
0 103/I 5 8 010 8
23 93,/I 0 103/I 6 3 011 4
6.88 in the expectation that sooner or later prices will give way
6.40 93,/I
0 l(P% 5 814010 9
30 93I 0 10% 6 2 @II 1
6.93 under the weight of the unprecedentedly large crop of spring
Sept
6.62 93,1,
© 1034 5 9 6.410 10 7.32 wheat. Yet on the whole prices here have been compara97 0 10M 6 2 011 1
6.7514 0 1035 9 p,10 1034 7.15 tively steady. The high ocean freights are, howe ver a draw-13 oy, tiA 10%4 6 236011 2
1^
o
q ,
II "
• ‘, fi_ino in,• ,, a ft ' rt
back of recogni&ed importance. The total output of flour at
SHIPPING N E W S.-As shown on a previous page, the Minneapolis, Duluth and Milwaukee last week reached, it
exports of cot ton from the United States the past week have is of interest to observe, 438,940 barrels, against only 338,525
reached 172,593 bales. The shipments in detail, as made in the previous week and 396,275 a year ago.
Wheat has shown resistance to big receipts and increasing
up from mail and telegraphic returns, are as follows:
7 clal ba:es, stocks at the Northwest. The cash demand has been
NEW YORK-To Liverpool-Sept. 18-Adriatic, 7,661 upland,
18 Peruvian
•
7,679 steady and some business for export has been done despite
. • To Havre-Sept. 14-Rochambeau, 2,345
2,345 the high ocean freight rates which prevail all along the
• • To Bremen-Sept. 18-Friedrich, 6,626
6,626
• • To Antwerp-Sept.13-Finland,2,642
2,642 coast and are said also to exist in Europe. Some important
• • To Genoa-Sept. 13-Italia, 300
300 men of the trade are of the opinion that whatever the present
. • To Naples-Sept. 18-Saxonia, 300
300
• .To Bombay-Sept. 18-Adamsturm, 1,203
1,203 drawback in the matter of the scarcity and high rates of
. • To Venice-Sept. 17-Alice, 200
ocean freight room this season is to witness an unusually
• • To Trieste-Sept. 17-Alice, 550
2
55
90
9 large export trade with Europe. Crop
reports from the
-To Liverpool-Sept. 13-. Imataka,4,436 __ _Sept. 14
,
GA LVBSTON-Musician, 7,394___Sept. 17-Engineer, 13,196; Indore,
United Kingdom are in many cases unfavorable. Supplies of
17,687
• •
42,713 native wheat are increasing it is said, but both the condition
. • To Manchester-Sept. 19-Mercedes de Larrinaga, 11,635..
11,633
and the quality are reported poor. In France the supplies
I.; .To Havre-Sept. 13-Degama, 3,281; Greystoye Castle, 8,312;
Mineola, 12,513
. •
24,186 of native wheat are also increasing but dry lots are scarce
• • To Bremen-Sept. 13-Grangewood, 6,211_ __Sept. 16-111I1•
• • glade, 10,682
16,8(3 and northern ports are importing foreign wheat on a good
. • To Rotterdam-Sept. 19-Mora, 1,345
1,345 scale, mostly East India wheat. In Germany threshing is
. • To Antwerp-Sept. 14-Skipton Castle. 1,900
1,900
• .To Ghent-Sept. 14-Skipton Castle, 1,700
1,700 progressing but slowly and there is a fair demand for foreign
[ • • To Barcelona-Sept. 13-Auguste, 4,640_ __Sept. 14-Conde
wheat. In Austria, while the yield is satisfactory, the quality
Wilfred, 4,462
9,102 of the
• •
wheat is not. In Russia 15 per cent damage has
TEXAS CITY-To Havre-Sept. 14-Degama,6,090
6,090
been done in the southwestern sections. Much sprouting is
NEW ORLEANS-To Liverpool-Sept. 16-Craftsman, 607; Victorlan, 4,334
4,941 reported there owing to continued wet weather.
• •
These
31
• To Hamburg-Sept. 19-Hoerde, 31
1,228 facts have been noticed with interest despite the favorable
To Genoa-Sept. 17-11 Piemonte, 1,228
Liverpool-Sept.
13-Konakry,
199
MOBILE-To
.
outlook for the crop in other parts of Russia and some in4,1
199
SAVANNAH-To Liverpool-Sept. 14-Hardanger,4,199
20 crease in its supplies. In Italy there is a good demand for
To Manchester-Sept. 14-Hardanger, 20 Sea Island
To Havre-Sept. 19-Nunlma, 6,009
6,000 foreign wheat. In Scandinavia the crops have been greatly
CHARLF STON-To Bremen-Sept. 18-Grampian Range, 3,400.. 3,400
BRUNSWICK-To Liverpool-Sept. 14-Belgian, 7,200
7,200 damaged by rains and increased imports are expected.
BOSTON-To Liverpool-Sept. 12-Canadian, 800__ _Sept. 17Things like the above have tended to confirm bulls in the
Laconia, 1,200
2,000 impression that present prices
are too low. It has been
BALTIMORE-To Liverpool-Sept. 14-Vedamorc,498
498
To Bremen-Sept. 17-Main,4,559
4,550 raining heavily in the Red River valley, too, and this has
SAN FRANCISCO-To Japan-Sept. 14-Mongolia, 900
900 naturally tended to delay threshing. On the other hand,the
Total
172,503 world's shipments have been large, reaching 14,576,000
The particulars of the foregoing shipments for the week, bushels, against 11,184,000 for the same week last year.
Russia's shipments are much larger than those of a year ago.
arranged in our usual form, are as follows:
So are those from Argentine and East India. The stock at
Great French Ger- -Oth.Europe-Mex.,
Britain, parts. many. North. South. &c.Japan. Total. Minneapolis has been steadily increasing. The world's
7,6/9 2,s45 6,66 2,642 1,350 1,203
New York
21,143 stock of wheat increased for the week 7,659,000 bushels
54,348 24,186 16,893 4,945 9,102
Galveston
109,474
6,090
Texas City
6,090 against an increase in the same week last year of 5,650,000
--- - -ai
4,941
New Orleans
-.1
__00
bushels. That the spring-wheat crop will be the largest ever
------------------Mobile
199
_109
Savannah
4,219 6iiiii10,228 known has now become a truism. At the same time exBrunswick
7,200 porters are handicapped by two things: first their bids in
--------- 3,400
Charleston
3,400
the market, and, second,
2,000
Boston
2,000 many cases are several cents under
498
____
Baltimore
4,559
5,057 ocean freights continue scarce and high. Recently Liverpool
San Francisco
___
-665
£00 room has risen
- -----to 10 cents a bushel as compared with about
Total
81,081 38,630 31,509 7,587 11,680 1,203
900 172,593 1-5 of this rate in ordinary times. The larger receipts and
the increasingly bearish aspect of the week's statistics have
LIVERPOOL.-Sales, stocks, &c., for past week:
Atte. 30. Sept. 6. Sept. 13. Sept. 20. militated against a rise. Yet a very steady undertone has
Sales of the week
33,000
bales_ 72,000
37,000
46,000 been frequently observable and it has been traced to a steady
1,000
3,000
Of which speculators took
1,000
1,000
this country and whatis regarded as an
Of which exportrs took
1,000
1,000
1,000
1,000 absorption of wheat in
Sales, American
26,000
21,000
29,000
32,000 unsatisfactory crop outlook in Europe. To-day prices opened
Actual export
2,000
11,000
5,000
3,000 higher, owing to Northwestern
rains, but weakened later.
Forwarded
62,000
54,000
57,0(0
59.000
d.
Orb
d. s. d.
s. d.
d.
d.
d. s. d.
S. d. 0.
''^
Total stock-Estimated
Of which American
Total imports of the week
Of which American
Amount afloat
• Of which American
600,000
472,000
21,000
4,000
83,000
40,000
568,000
424,000
35,000
11,000
110,000
75,000
534,000
387,000
27,000
15,000
143,000
,
516,000
362,000
45,000
24,000
15.0
87
5.00
00
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
10334 10334
No. 2 red
103;5 10316
103
September delivery in elevator..
103 34 103 34 102% 10334 103
9934 99 % 99 h
December delivery in elevator_ _ _ _ 99
98 n 99
10334 103% 10334
May delivery In elevator
103
10234 103
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICA00.
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_.... 9234
9134 9134 9134
% 9234 92
December delivery In elevator_ __ _ 91
9034 9034 9134 9134 9134
May delivery in elevator
9534 95 34
% 00.% 9534 9634
103
sg
10334
SEPT. 21 1912 1
THE:I-CHRONICLE
Indian corn has latterly been stronger, owing partly to
fears of frost, in the belt. Killing frost has actually
occurred, it is said, in parts of Nebraska. It is said, too,
that more damage was done by the recent drought and heat
in Nebraska, Kansas, Oklahoma and Texas than was generally supposed to have been done at the time. Large interests are identified with the bull side of the corn market,
and they have bought heavily. After sagging for a time
cash prices have latterly advanced, with a good demand from
Eastern buyers at Chicago. Early in the week the receipts
at Chicago suddenly increased and cash and September for
a time felt the effects. But latterly the receipts have decreased and prices have accordingly improved. There are
those who believe that there will be unusually large feeding
of corn to cattle and hogs this year, owing to the high prices
of beeves and hogs at the West. At Chicago beeves have
advanced to $11 per hundred pounds, the highest price,
it is stated, for many years past, and there are predictions
that $15 will be reached by Christmas. Hogs, although not
so high relatively as beeves,.are high enough to encourage
feeding. These things, it is maintained, are likely to neutralize the effects of even a crop of 3,000,000,000 bushels.
And latterly some traveling experts have expressed doubts
whether quite so large a crop will be raised. To-day prices
were firm on predictions of frost.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
nom. nom. nom. nom. nom. nom.
Cash corn
September delivery in elevator_ __ _ nom. nom. nom. nom. nom. nom.
DAILY COSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. 1Ved, Thurs. Fri.
September delivery in elevator_ _ _ _ 69
137 X 69
70 X 71% 72%
December delivery in elevator_ _ _ _ 52
52
5234 53% 5334 54
May delivery in elevator
51 X 52
52
52 X 52 X 53 34
Oats have shown a noteworthy steadiness in the face of
the prospects of a record-breaking crop. Cash houses and
elevator companies have been buying the distant months.
Of late September delivery has led in some advance, and
cash prices have risen, owing to the smallness of available
supplies. The forage crops of Europe are believed to have
suffered with other grain crops, and although of late there
. has been less export business, owing partly ,it is believed, to
the scarcity and dearness of ocean freights, yet the idea of
not a few in the rade is that later on Europe may not improbably re-enter the market for liberal quantities. Meantime, there is a good, steady cash demand from domestic
buyers, and the visible supply is only 6,837,000 bushels,
or about a third of what it was at this time last Year. Today prices were firm in sympathy with corn.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs, Fri.
Standards
38
38
38
38
nom. nom
40
40
No. 2 white
39
39
nom. nom.
PRICES
OF OATS FUTURES IN CHICAGO.
DAILY CLOSING
Sat. Mon. Tues. Wed. Thurs. Fri.
September delivery in elevator_
32% 325% 32 % 32 X 333% 335%
December delivery in elevator_
32 X 32 X 32 % 32%
32 % 32
May delivery in elevator
345% 343% 3434 34 % 34 X 35
Closing prices were as follows:
FLOUR.
Winter, low grades____$3 85Q$4 10 Kansas straights, sacks_$4 30Q 4 40
Winter patents
5 25Q 5 45 Kansas clears, sacks___ 4 00® 4 25
Winter straights
6 20® 6 50
4 604 4 70 City patents
Winter clears
3 85® 4 10
4 25Q 4 50 Rye flour
Spring patents
4 75(9 5 00 Graham flour
4 00Q 4 70
Spring straights
Nomitial
4 60Q 4 75 Buckwheat, cwt
Spring clears
4 40Q 4 60
GRAIN.
Wheat, per bushel-f, o. b.
Cents.
Corn, per bushelN. Spring, No. 1, new ____31 01
elevator Nominal
No. 2
Spring,
No. 2, new._ __ nom.
N.
Steamer
elevator Nominal
Red winter, No, 2, new___ 1 035%
c.i.f. Nominal
No. 3
Hard winter, No. 2
1 02 X Rye, per bushelOats, per bushel, new67
Cents.
No.2
Standards
Nominal
nom.
State & Pennsylvania_
No. 2, white
nom. Barley-Malting
60Q75
No.3
3834Q30
For other tables usually given here, see page 726.
In ThousatutiAmerican
Canadian
765
SUMMARY.
Bonded
Bonded
it'hcot..Wheat. Corn. Oats. Oats.
bush, tush. bash. lush. bush.
26,679
418 1,768 6,837
3,342
1,322 ----
Total Seat. 14 1912. _30,021
Total Sept. 7 1912_ _27,68
Total Sept. 16 1911_ .54.988
Total Sept. 17 1910_ _32,407
418
491
1.768
1,454
7,402
3,966
8,359
7,551
26,552
18,681
62
61
____
Bonded
Rye.Barley. Barley.
bush. bush. bush.
60
'
21
------- 15
706
607
427
290
1,475
1,225
2,522
1,427
21
21
THE DRY GOODS TRADE.
New York, Friday Night, Sept. 20, 1912.
The week in the drygoods trade has been very satisfactory,
with the situation continuing to favor producers. The
scarcity of supplies and lateness of mills in making deliveries
are the chief topics of discussion. In staple cottons, buyers
are more active in covering their requirements, and are not
finding it easy. They are willing to pay full asking prices
but are unable to obtain the deliveries desired. Retailers
-have found that their initial orders on fall lines of cotton
goods are inadequate and are making heavy inroads into
the stocks of jobbers. • The majority of mills are well sold
up to the turn of the year, and only in scattered instances
are they in a position to furnish jobbers with further supplies
of fall goods. Where they are in a position to do so, they
are asking advanced prices on the same. Jobbers are also
in receipt of considerable business for next spring, as retailers are beginning to take a broader view of the future
and fear the same tightness of supplies during the spring that
has prevailed through the fall and winter seasons. In
woolens and worsteds there is also much anxiety over the
tardiness of mills in making deliveries of iall dress goods.
Supplies of popular fabrics in the hands of distributers are
very small and mills are still engaged in manufacturing
materials which should have been shipped some time ago.
In men's wear likewise, the matter of deliveries is receiving
close attention. Judging from the amount of business which
mills have booked, and their present rate of production and
shipment, it is feared that it will be very difficult to get
satisfactory deliveries of goods for next spring.
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending Sept. 14 were
5,017 packages.
New York to Sept. 14Great Britain
Other Europe
China
India
Arania
Africa
Weit Indies
Mexico
Central America
South America
Other countries
Total
1912
-1911Since
Since
Jan. 1.
Week. Jan. 1.
3,368
29
585
1,488
101
826
53,705
_
76,109
20,042
1532
20,247
205
14,598
40,1851.352
21,271
S2
10,788
938
33,103
807
28,688
36
2,230
10
1,608
201
15,567
511
14,326
1,081
50.856
2,397
42,789
653
52,202
1,594
28,458
Week.
4
118
426
5,017
294,026
6,103
239,022
The value of these New York exports since Jan. 1 has been
$18,989,766 in 1912, against $16,997,678 in 1911.
Markets for domestic cotton goods hold steady with the
tendency of prices upward. Demand is reported active in
all sections of the country, and many complaints are heard
of backward deliveries, indicating that merchants are short
of supplies and unable to meet the requirements of their
customers. It is said that it is many years since September
witnessed such a good business when in the midst of a
political campaign, as generally the uncertainties surrounding
the outcome of the elections has had a tendency to restrict
buying except what was required for immediate needs.
Staple tickings have been well ordered, the largest houses
The visible supply of grain, comprising the stocks in receiving business for delivery as far ahead as November.
granary at principal points of accumulation at lake and Largb inquiries are received for drills and sheetings for
seaboard ports Sept. 14 1912, was as follows: .
future delivery and are taken to indicate a resumption of libUA1TED SI/kik-8 GRAIN SlOCKS.
Amer. Bonded Amer. Amer. Bonded Amer. Amer. Bondel eral contracting for spring delivery. Ginghams, particuWheat. Wheat, Corn. Oats. Oats. Rye. Barley. Barley. larly the low-priced dress ginghams, are selling well, the finer
bush. bush, bush. bush, bush. bush
In Thousandsbush. Cush. qualities being in only very moderate demand. Jobbing
291
191
46
599
0
4
25
New York
1
houses .handling wash goods are doing a good business as
8
3
9
72 ____
1
Roston
41
519
10
288 _---:
Philadelphia
compared with recent years, while many lines of heavy
_
_
858 ____
33
404
Baltimore
colored goods are being well ordered for October and No88
648 __..100
i_
New Orleans
......1..
5
1,278
Galveston
vember delivery, the cooler weather in many sections of the
"-- i :15_6:
24 -iii,
i
248 "'F,
Buffalo
country having stimulated interest in larger stocks of these
16
517
1,315
Toledo
113
30
Detroit
106
goods. Print cloths and convertibles are quiet and about
13
426 2,739
Chicago
4,., --3,982
46
steady. Offerings generally are light. Gray • goods, 383
132
Kiwaukee
41
57
17
80
.7.5_ - o inch standard, are quoted at 51
Duluth
225
53
2,477
58 ---4c.
Minneapolis
6
204
30
24:
7
3
1,892
290
WOELEN GOODS.-A satisfactory business has been
St. Louis
9
258
39
3,473
Kansas City
35
5,013
30
transacted in men's wear and dress goods, notwithstanding
Peoria
491
3
190
the forthcoming Presidential election and threatened tariff
Indianapolis
198
537
60
--- --Omaha
794
210
revision. Orders for most all lines have been heavy and mills
173
on Lakes
3,047
503 - - --------6
41F)
are far behind with deliveries. Spot goods are scarce and
Total Sept. 14 1012._26,670
706 1,460
62
418 1,768 6,837
21 there are urgent requests for quick shipments.
Total Sept. 7 1012.22.691
491 1,453 5,538
607 1.184
21
61
FOREIGN DRY GOODS.-No abatement is noted in
Total Sept. 1(31911__51,076 7,215 21,716 ._
427 2,503
Total Sept 17 1910. _29,207 -- 3.850 18,423 ..-290 1,576
the demand for linens, which continues active at firm and
CANADIAN GRAIN STOCKS.
advancing prices. Advices from abroad state that as a
Canadian Bonded Canadian Bonded
Canadian Bonded
Wheat. Wheat. Corn. Oats. Oats. Eye. Barley. Barley. result of increased cost of production quotations will be
bush,
bush,
,7'homani
bush,
bush. bush. bush. bush. bush. marked up. Both dress goods and housekeeping Ii es are
In
Montreal
15
--- Fort William
--_- well taken. Burlaps developed decided strength during
Port Arthur
---- the past week. A large business was transacted and stocks
_-_.
1,121
Other Canadian
299
---- were cleaned
---up. Calcutta markets were rather easy during
-----Total Sept. 11 1912__ 3,312 --------1,522
_
the early part of the week, but during the latter part prices
15
1 1,08:3 - - - Total Sept. 7 1912._ 4,77 - - 41
scored sensational advances. Lightweights are quoted
187 4,836
Total &Int. 16 1911._ 3,012 ___
19
Total Sept. 17 1010- 3,290 ---- .116
6.15@6.20c. and Mi ounce at 7.75c. •
48
258 ----
THE CHRONICLE
766
_STATE
Ain
CITY
InlYMTNEINIT,
News Items.
[VoL. txxxxv.
No. 32.-Taxation of State and municipal bonds, inheritances, incomes,
franchises and production of minera s. 269,239 yes, 249,864 no.
No. 33.-Regulation of corporations and sale of personal property
300,466 yes, 212,704 no.
No. 34.-Double liability of bank stockholders and inspection of private
banks. 377,272 yes, 156,688 no.
No. 35.-Regulating State printing. 319,622 yes, 192,378 no.
No. 36.-Eligibility of women to certain offices. 261,806 yes, 281,370 no.
No. 37.-Civil service. 306,767 yes, 204,580 no.
No. 38.-Out-door advertising. 261,361 yes, 262,440 no.
No. 39.-Methods of submitting amendments to the constitution.
271,827 yes, 246,687 no.
No. 40.-Municipal home rule. 301,861 yes, 215,120 no.
No. 41.-Schedule of amendments. 275,062 yes, 213,979 no.
No. 42.-License to traffic in intoxicating liquors. 272,361 yes, 188,828 no.
•
• Arizona.-Proposed Constitutional Amendments.- On
Nov. 5 a vote will be taken on a proposal to amend Section 8
of Article IX of the constitution so as to limit the bonding
power of county or school districts to 10% of their assessed
valuation, 4% of which may be incurred without the assent
of the voters. It also increases the amount of debt which may
be incurred by incorporated cities and towns with the voters'
As indicated last week, the complete returns show that
approval, for municipal water, sewer and light plants from
5 0 to 15% of the assessed valuation. We print Section 8 eight proposed amendments were defeated. It is estimated
below, italicizing the part to be added and placing in brack- that there are 1,250,000 qualified voters in the State and less
than half this number voted on the various propositions.
ets the part to be eliminated should the amendment carry.
One of the amendments adopted, that known as No. 32,
Sec. 8. Art. IX. No county, city, town,school district or other municipal corporation shallfor any purpose become indebted in any manner to an restoring municipal bonds to taxation, is of such importance
amount exceeding four per centum of the taxable property In such county, to our readers that we print the same in full below:
city, town, school district, or other municipal corporation, without the
assent of a majority of the property taxpayers, who must also In all respects
be qualified electors, therein voting at an election provided by law to be
held for that purpose, the value of the taxable property therein to be ascertained by the last assessment for State and county purposes, previous to
Incurring such indebtedness; except, that in incorporated cities and towns
assessments shall be taken from the last assessment for city or town purposes: Provided that under no circumstances shall any county or school district become indebted to an amount exceeding ten per centum of such taxable
property, as shown by the last assessment roll thereof; and provided further
hat any incorporated city or town, with such assent, may be allowed to
become indebted to a larger amount, but not exceeding fifteen (five] per
centum additional, for supplying such city or town with water, artificial
light or sewers, when the works for supplying such water, light or sewers
are or shall be owned and controlled by the municipality.
Dallas, Texas.-Bonds Declared to Be Legal Investments for
New York State Savings Banks.-See item under "New York
State" below.
Great Bend,.Barton County, Kan.-Election on Commission
Form of Government.-Reports state that the question of
.establishing the commission form of government will be submitted to a vote on Nov. 5.
Maine.-Road Bond Amendments Adopted.-The recent
Selection resulted, it is stated,in favor of the proposed amendments to the constitution authorizing the State to issue not
exceeding $2,000,000 bonds for highways. See V.94, p.1397.
Nicaragua.-Receipts During Administration of American
Collector.-Mr. Edward L. Andrews, representing the corporation of foreign bondholders, has furnished us with the
following statement of current Nicaraguan finances.
The Council of Foreign Bondholders has received from
Mr. E. H. Wands, the Financial Adviser of the Nicaraguan
,Government,the following figures showing the yield of the
.customs revenues of Nicaragua since the United States Collector-General entered into office at the end of last year:
Dec. 18 1911 to Jan.31 1912 $45,000 May 1912
75,000 June 1912
February 1912
111,000 July 1912
March 1912
90,000 • • •
April 1912
$123,000
163,000
112,000
Although the'American Collector-General of Nicaraguan
customs was appointed only a few months ago, there has been
:a material increase in receipts. No figures for the same period of the previous year are available to make an exact comparison, but it is estimated that the increase amounts to
something like 50%. What effect, if any, has been produced
on the customs receipts in the past two months by the revolution is not yet known, but at the worst any reduction aris-ing out of the revolutionary disturbances is not likely to
be more than temporary. As regards the position of the
.scheme for the settlement of the Nicaraguan debt, nearly
1,000,000 of the bonds has now been deposited in assent,
,so that a large majority has been obtained.
Ohio.-Official Returns on Constitutional Amendments.The Columbus "Ohio State Journal" of Sept. 13 reports the
,official vote on the forty-one constitutional amendments and
(the question of liquor license submitted on Sept. 3 as follows:
No. 1.-Reform in civil jury system. 345,686 yes, 203,953 no.
No. 2.-Abolition of capital punishment. 258,706 yes, 303,246 no.
No. 3.-Depositions by State and comment on failure of accused to
testify in criminal cases. 291,717 yes, 227,547 no.
No. 4.-Suits against the State. 306,764 yes, 216,634 no.
No. 5-Damage for wrongful death. 355,605 yes, 195,216 no.
No. 6.-Initiative and referendum. 312,692 yes, 231,312 no.
No. 7.-Investigations by each house of General Assembly. 348,779
,yes, 175,337 no.
No. 8.-Limiting veto power of Governor. 282,412 yes, 254,188 no.
•
LI No. 9.-Mechanics' and builders' liens. 278,582 yes, 242,385 no.
No. 10.-Welfare of employees. 353,588 yes, 189,728 no.
No. 11.-Workmen's compensation. 321,558 yes, 211,772 no.
No. 12.-Conservation of natural resources. 318,192 yes, 191,893 no.
No. 13.-Eight-hour day on public work. 333,307 yes, 232,898 no.
No. 14.-Removal of officials. 347,333 yes, 185,981 no.
No. 15.-Regulating expert testimony in criminal trials. 336,987 yes,
185,408 no.
No. 16.-Registering and warranting land titles. 346,373 yes, 171,-807 no.
No. 17.-Abolishing prison contract labor. 333,034 yes, 215,208 no.
No. 18.-Limiting power of General Assembly in extra sessions. 319,100 yes, 194,130 no.
No. 19.-Change in judicial system. 264,922 yes, 244,375 no.
No. 20.-Judge of Court of Common Pleas for each county. 301,891
yes, 223,287 no.
No. 21.-Abolition of Justice of the Peace in certain cities. 264,832
yes, 252,936 no.
No. 22.-Contempt proceedings and injunctions. 240,896 yes, 257,,302 no.
No. 23.-Woman's suffrage. 249,420 yes, 336,875 no.
No. 24.-Omitting word 'white." 242,735 yes, 265.693 no.
No. 25.-Use of voting machines. 242,342 yes, 288,652 no.
• No. 26.-Primary elections. 349,801 yes, 183,112 no.
. No. 27.-Organization of boards of education. 298,460 yes, 213,337 no.
No. 28.-Creating the office of Superintendent of Public Instruction
to replace State Commissioner of Common Schools. 256,615 yes, 251,-946 no.
No. 29.-To extend State bond limit to $50,000,000 for Inter-county
,wagon roads. 272,564 yes, 274,582 no.
30.-Regulating insurance. 321,388 yes, 196,628 no.
No.
•
No. 31.-Abolishing Board of Public Works. 296,635 yes, 214,829 no.
ARTICLE XII.
Sec. 1. No poll tax shall ever be levied in this State, or service required, which may be commuted in money or other thing of value:
Sec. 2. Laws shall be passed, taxing by a uniform rule, all moneys,
credits, investments in bonds, stocks, joint stock companies, or otherwise; and also all real and personal property, according to its true value in
money, excepting all bonds at present outstanding of the State of Ohio
or of any city, village, hamlet, county or township In this State or which
have been issued in behalf of the public schools In Ohio and the means of
instruction in connection therewith, which bonds so at present outstanding shall be exempt from taxation; but burying grounds, public school
houses, houses used exclusively for public worship, institutions used exclusively for charitable purposes, public property used exclusively for any
public purpose, and personal property, to an amount not exceeding in
value five hundred dollars, for each individual, may, by general laws, be
exempted from taxation; but all such laws shall be subject to alteration or
repeal; and the value of all property, so exempted, shall, from time to time,
be ascertained and published as may be directed by law.
See. 6. Except as otherwise provided in this constitution, the State
shall never contract any debt for purposes of internal improvement.
Sec. 7. Laws may be passed providing for the taxation of the right to
receive, or to succeed to, estates, and such taxation may be uniform or
It may be so graduated as to tax at a higher rate the right to receive, or to
succeed to, estates of larger value than to estates of smaller value. Such
tax may also be levied at different rates upon collateral and direct inheritances, and a portion of each estate not exceeding twenty thousand
dollars may be exempt from such taxation.
Sec. 8. Laws may be passed providing for the taxation of incomes,
and such taxation may be either uniform or graduated, and may be applied
to such incomes as may be designated by law; but a part of each annual
income not exceeding three thousand dollars may be exempt from such
taxation.
Sec. 9. Not less than 50 per centum of the Income and inheritance taxes
that may be collected by the State shall be returned to the city, village or
township in which said income and inheritance tax originate.
Sec. 10. Laws may be passed providing for excise and franchise taxes
and for the Imposition of taxes upon the production of coal, oil, gas and
other minerals.
Sec. 11. No bonded Indebtedness of the State, or any political subdivisions thereof, shall be incurred or renewed, unless, in the legislation
under which such indebtedness is incurred or renewed provision is made
for levying and collecting annually by taxation an amount sufficient to
pay the interest on said bonds, and to provide a sinking fund for their
final redemption at maturity.
The above amendment will take effect Jan. 11913.
Shreveport, La.-City Offers to Purchase Water Plant.A resolution has been passed by the City Commissioners,
it is said, offering to purchase the plant of the Shreveport
Water-Works Co. for $607,655 96, and giving them thirty
days within which to accept. Should the offer be refused,
an election will be called, according to the resolution, to
vote bonds for the erection of a municipal plant.
Recall Election.-An election has been ordered for Oct. 7,
reports state, on the question of recalling Mayor Eastham
and Commissioners Rives and Fullilove. An election held
May 9 resulted in favor of the recall of Commissioner Atkins.
-V. 94, p. 1397.
Bond Proposals and Negotiations this week
have been as follows:
ADA SCHOOL DISTRICT (P. 0. Ada), Hardin County, Ohio.-BONDS
VOTED.-An election held Sept. 3 resulted In favor of the proposition to
issue $15,000 heating-systam bonds. The vote was 253 to 174.
ADAIR_ COUNTY SCHOOL DISTRICT NO. 11, Okla.-BONDS OFFERED BY BANKERS.-The II. C. Speer & Sons Co. of Chicago is
offering to investors $10,000 6% building bonds. Denom. $500. Date
Aug. 11912. Int. J. & J. In New York. Due July 1 1932. No other debt.
Assessed valuation, $515,484.
AKRON.Ohio.-BONDS A UTIIORIZED.-Ordlnances have been passed
providing for the issuance of the following 4 M % coupon bonds:
$4,250 street-impt. (city's portion) bonds. Due Nov. 1 1918.
$1,000 and (1) $600
20,600 Merriman St. inapt. assess. bonds. Denom.(20)
Due $2,000 yrly. Nov. 11914 to 1923 incl. and E600 Nov. 1 1923,
office.
Date Nov. 1 1912. Int. semi-annual at the City Treas.
BOND OFFERINGS.-Proposals will be received until 12 m. Oct. 10 by
water-works-ext.
J. McCausland, City Auditor, for $1,000,000 4% 30-yr.
bonds. Auth., See. 3939, Gen. Code. Denom. $1,000. Date June 1
1912. Int. J. & D. Bonds to be delivered and paid for within 10 days from
time of award. Cert. check for 1% of bonds bid for, payable to the City
Treas., required. Purchaser to pay accrued interest.
Proposals will also be received until 12 m. Oct. 15 by the Auditor for the
following 4 yi% bonds:
o)
(Bonds.
0nAds6s.essment
1$40i8.4b0
Denom.
$1,000 and (10) $260.
$12,600 Gleewood Ave.
Date Oct. 15 1911. Due $1,260 yrly. from 1912 to 1921 incl.
15
Sept.
Date
1912. Due $380 yrly.
bonds.
1,140 hfallison Ave. sewer
1914 to 1916 Incl.
6,000 North Iloward St. Impt. bonds. Denom.$600. Date Oct. 1 1912.
Due $1,200 yrly. 1913 to 1917 incl.
10,000 Carson and Bloomfield ayes. Impt. bonds. Date Sept. 1 1912.
Due $1,000 yrly. from 1913 to 1922 incl.
3,000 Rider Ave. sewer bonds. Denom. $1,000. Date Sept. 1 1912.
Due $1,000 Sept. 11913, 1914 and 1915.
8,100 Snyder, Nathan and Campbell St. impt. bonds. Denom. $810.
Date Oct. 1 1912. Due $1,820 yrly. from 1913 to 1917 Incl.
$138,850 City's Portion Bonds.
$29,700 Kelley Ave. bridge bonds. Denom. $1,000. Date April 1 1912.
Due April 1 1917.
.11
[90,000 Bowery St. main trunk sewer bonds. Denom. $1,000. Date
July 15 1912. Due July 15 1917.
•
• 1,000 Washington St storm-water-sewer bonds. Date Oct. 1 1912.
•
Dun Oct. 141918.
• 3,000 bonds for q larantIne purposes. Denom. $1,000. Date Sept. 1
1912. Due Sept. 11918.
•
Oct. 11912.
12,950 public taint. bonds. Denom.$1,000 and $950. Date
. . . . . . . . • . • • . • . . • • • •
•
Due Oct. 1 1918.
• Interest semi-annual.
SEPT. 211912.]
THE CHRONICLE
767
will be received until $2,520 5% 10-40-year (opt.) building bonds were purchased by the Staiia
r'ALBANY, N. Y.-BOND OFFERING.-Proposals
Permanent School Fund at par and int. These bonds are part of an:Issue
11 a. tu. Oct. 3 by J. M. Fall, City Comp., for the following 4 M% tax-free of
•
$8,400 $2,520 of which has already been sold (V. 95, p. 249).
bonds:
$100,000 coupon (with privilege of registration) river-front bonds. Denom.
BONNEVILLE. COUNTY INDEPENDENT-SCHOOL DISTRICT NO."1.
$1,000. Int. at office of City Treas. Due Oct. 1 1962.
(P.O. Idaho Falls), Idaho.-BOND SALE.-On Sept. 11 $30,000 10-20-yr.
100,000 reg. Intercepting sewer bonds. Denom. $1,000. Int. by mailed (opt.) coup. bldg. bonds were awarded to Wm. E. Sweet & Co. and the
check. Due Oct. 1 1952.
Trust Co. of Denver at 100.80 for 5s. Authority, vote of 145
$1,000. Interest by International
100,000 reg. school-construction bonds. Denom.
to 6 at an election held July 29. • Denom. $1,000. Date Oct.1 1912. • Int.
mailed check. Due $5,000 yearly Oct. 1 1913 to 1932, Incl.
semi-annuallan
New,York.A4 • • • • • • • • • • • • • • •
by
30,000 reg. school-land acquisition bonds. Denom. $1,500. Interest
mailed check. Due $1,500 yearly Oct. 1 1913 to 1932, inclusive.
BOONE COUNTY (P.0.Columbia). Mo.-BONDSIVOTED.-According
In$1,000.
Denom.
bonds.
acquisition
to reports, an election held Sept. 9 resulted in favorAof the proposition to
20,000 reg. bond and building
terest by mailed check. Due $1,000 yearly Oct. 1 1913 to 1932, Issue $1,800 DeerRark special 'road district bonds. .
inclusive.
mailed
P-BOSTON,
Denom.
$800.
by
Mass.-BOND-OFFERING -Proposals will be receivedluntil
Interest
16,000 reg. land-acquisition bonds.
12 m. Sept. 27 by Chas. H. Slattery, City Treas., for the fonowlag 4%
check. Due $800 yearly Oct. 1 1913 to 1932. incl.
mailed
registered
tax-free
bonds:
by
Interest
bonds.
Dcnom.
$140.
concrete-walk
2,800 reg.
check. Due $140 yearly Oct. 1 1913 to 1932, incl. Comptroller $1,500,000 Boylston St. subway bonds. Due Oct. 1 1957.
1,000,000 Dorchester tunnel bonds. Due Oct. 1 1957.
reserves right to purchase at par for sinking funds.
200,000 East Boston tunnel-extension bonds. Due Oct. 1 1957.
2,500 reg. Clinton Square impt. bonds. Denom. $125. Interest by
364,000 Arlington St. extension bonds. Due $19,000 yearly on Oct. 1
mailed check. Due $125 yearly Oct. 1 1913 to 1932, Incl.
from 1913 to 1916, incl., and $18,000 yearly on Oct. 1 from
(Comptroller reserves right to purchase for sinking funds at par.)
1917 to 1932, inclusive.
Date Oct. 1 1912. Int. A. & 0. Certified check for 27, of bonds bid
150,000 refuse-station bonds. Due $10,000 yearly on Oct. 1 from 1913
rot, payable to Chas. E. Walsh, City Treas., required. Bonds WIII be ready
to
1927, inclusive.
possible.
soon
as
as
thereafter
or
15,
Oct.
delivery
for
50,000 playground bonds. Due $3,000 yearly on Oct. 1 from 1913 to
ALBANY COUNTY (P.O. Albany), N. Y.-BOND SALE.-On Sept. 19
1922. Incl., and $2,000 yearly on Oct. 1 from 1923 to 1932,
,
incl.
were
634)
4 % reg. highway- improvement bonds (V. 95, p.
the $84,000 43(
400,000 drainage-system bonds. Due $16,000 yearly on Oct. 1 from
awarded to E. H. Rollins & Sons of Boston at 100.277. A bid of par was
1913 to 1937, inclusive.
Albany.
In
also received from the Albany City Bank
150,000 sewerage-works bonds. Due $6,000 yearly on Oct. 1 from 1932
to 1937, inclusive.
ATHOL, Worcester County, Mass.-BOND OFFERING.-Proposals
175,000 sewerage-works bonds. Due $7,000 yearly on Oct. 1 from 1913
will be received until 3 p. m. to-day (Sept. 21) by L. Lord, Town Treas.,
to 1937, inclusive.
for $35,000 47 coupon school-house loan bonds. Denom. $1,000. Date
Due
100,000 sewerage-works bonds. Due $4,000 yearly on Oct. 1 from 1913
Oct. 1 1912. Int. A. & 0. at the Old Colony Trust Co., Boston. 1921.
1
to 1937, inclusive.
$4,000 yearly on Oct. 1 from 1913 to 1920, incl., and $3,000 Oct.
Co.
Denom. $1,000 or multiples thereof. Date Oct. 1 1912. Int. A. &"0.
Bonds will be certified as to genuineness by the Old Colony Trust will
at office of City Treas. Certified cheek on a Boston national bank or trust
Legality approved by Ropes, Gray* & Gorham, Boston, whose opinion
company (or cash) for 1% of bonds bid for, payable to the City Treasurer,
be furnished without charge to the purchaser.
- required. Bonds will be ready for delivery Oct. 7.
Iowa.
ALGONA SCHOOL DISTRICT (P.O. Algona), Kossuth County,the
TEMPORARY LOAN.-Local papers state that a loan Of $1,650,000
proheld
be
will
on
4,
vote
Oct.
to
election
-An
ELECTION.
BOND
in anticipation of taxes has been negotiated with severarlocal .banks.
positlon to issue $15,000 high-school-addition bonds. • • . . .
BOWEN. Hancock County, III.-BOND SALE.-An Issue of $5,000
ALHAMBRA. Alhambra County, Cal.-BOND OFFERING.-Proposals
has been purchased by the Farmers' Bank
will be received until 9 a. m. Sept. 28 by 0. M. Caulk, City Clerk, for the 5% sidewalk-construction bonds
of
Bowen at par. Denom. $500. Int..annuallygin July. *Due 20 years,
1912:
of
bonds
coup.
5%
following
$50,000 public-library bonds, Series No. 2. Denom. (40) $1,000 and (40) o•,tfonal at any interest-paying date. A;
$250. Due $1,250 yrly. Sept. 1 from 1913 to 1952, incl.
-BRONXVILLE, Westchester County, N. Y.-BONDS RE-OFFERED.
10,000 incinerator bonds Denom. $250. Due $250 yrly. Sept. 1 from Dispatches
state that the $33,040 road bonds awarded on Sept. 9 (V. 95,
1913 to 1952, incl.
p. 700) are being re-offered. proposals to be Xecolved.until 8..p. m. Oct. 1
$1,000 fire-protection bonds, Series No. 2. Denom. $775. Due $775 by Village Clerk, Frank Rinsmore. • • •
• • • • • • • • • • • • •
yrly. Sept. 1 from 1913 to 1952, incl.
17,000 drainage bonds, Series No, 3. Denom. $425. Due $425 yrly. =FAL°, N. Y.-BOND OFFERING.-Proposals will be received
Sept. 1 from 1913 to 1952, incl.
until 12 m. Sept. 27 by W. G. Justice, City Comp., for the following 4 g%
50,000 city-hall bonds, Series No. 2. Denom. (40) $1,000 and (40) $250. registered tax-free bonds:
Due $1,250 yrly. Sept. 1 from 191$ to 1952, incl.
$500,000 school bonds (V. 95. p. 249). Due Oct. 1 1932.
15,000 bridge bonds, Series No. 2. Denom. $375. Due $375 Yr1Y•
300,000 water bonds (V. 95, p. 249). Due Oct. 1 1932.
Sept. 1 from 1913 to 1952, incl.
111,000 water refunding bonds (V. 95, p. 249). Due Oct. 1 1937.
Authority election held Aug. 6 1912. Date Sept. 1 1912. Int. M. &
188,800 park bonds. Due Oct. 1 1962, opt. beginning Oct. 1 1932.
135,000 police and fire-dept. bonds (V.95. p. 701). Due Oct. 11932.
S. at the City Treas. office. Cert. check for 5% of bid, payable to the Pres.
Bd. of Trustees, required.
50,000 hospital bonds (V. 95, p. 701). Due Oct. 1 1932.
Denom.$1,000. Date Oct. 11012. Int. A. & 0.at office of City Comp.,
ALLEN COUNTY (P. 0. Lima), Ohlo.-BOND SALE.-On Aug. 27
Bank in New York City. An unconditional
the $5,400 5% coup. dItch-impt. bonds (V. 95, p. 434) were awarded to or at the Hanover National
certified
check on an incorporated bank or trust company for 2% of bonds
•
•
•
100.46.
price
the
making
Hayden, Miller & Co. of Cleve. for $5,425,
bid for, payable to the Comptroller, required. * • • • . . . . . . . .
been
has
ordinance
AUTTIORIZED.-An
-BONDS
ALLENTOWN. Pa.
BURLEY. Cassia County. Idaho.-DESCRIPTION OF BONDS.-The
passed, it Is stated, providing for the issuance of $55,000 bonds.
$85,000 6% 10-20-yr. (opt.) bonds awarded on Aug. 20 to H. C. Speer de
AMITE COUNTY (P.O. Liberty), Miss.-BOND OFFERING.-Further Sons Co. of Chic, at par (V. 95. p. 635) are in the denom. of $1,000 each
reg.
details are at hand relative to the offering on Oct.7 of the $80,000 5%
day by and dated June 1 1912. Int. J. & J.
road bonds (V. 95, p. 700). Proposals will be received on that ann.
These bonds were awarded in May to Jas. N. Wright & Co.of Denver, but
in
W. W. Jackson, Pres. Road Dist. No. 3. Denom. $500. Int.
•
that sale, we are advised, was not consummated.
$8,000
required.
for
check
Cert.
yrs.
20
to
10
from
Liberty. Due
CALDWELL COUNTY COMMON SCHOOL DISTRICT NO. 40, Tex.-of 102
ARTESIA, Eddy County, N. Mex.-BONDS VOTED.-By a vote
REGISTERED.-On Sept. 10 the State Comptroller registered
BONDS
-works
water
20-yr.
and
street-Impt.
6%
$10,000
to 7 the question of issuing
$6,000 5% 10-40-year (opt.) building bonds, dated June 1 1912.
system bonds carried, it is stated, at a recent election.
BONDS AWARDED IN PART.-On the same day $2,000 of the above16 the amount was rchased by the State Permanent School Fund 4at par and Int.
ASHLAND, Ashland County, Ohio.-BOND SALE.-On Sept.
to
awarded
560)
p.
were
95,
(V.
bonds
disposal-plant
sewage%
)4
4
$4,800
OrCALHOUN COUNTY (P. 0. St. Matthews), S. Car.-BOVD ELECthe Farmers' Bank of Ashland for $4,915 50 (102.406) and int. Other TION.-An election will be held Nov. 5 to vote on the proposition:to Issue
bids follow:
$20,000 5% 20-40-yr. (opt.)-court-house bonds.
00
Cleve.$4,830
Co..
&
Miller
Hayden,
44
13k.&Sav.00.,Ash.$4,909
Ashland
4,824 00
• CALLAHAN COUNTY COMMON SCHOOL DISTRICT NO. 19. Tex.
First Nat. Bank, Ashland.... 4,908 001 Stacy & Braun, Toledo__ 4,809
12 BONDS REGISTERED AND SOLD.-An issue of $1.000 5% 10-20-year
First Nat. Bank, Cleve....__ 4,853 80 M.5, Pond, Somerset
21
by
1912,
the
was
registered
May
dated
State
building
bonds,
(opt.)
00
Col__
4,831
New First Nat. Bank,
-The five Comptroller on Sept. 10.
AUSTIN, Travis County. Tex.-BONDS RE-AWARDED.
On the same day these bonds were purchased at par and int, by the
issues of 5% bonds aggregating $750,000 sold on June 4 to the Texas Trust
State Permanent School Fund.
Co. of Austin (V.94, p. 1640) have been re-awarded to the Commerce Trust
a
on
Investors
to
them
offering
now
is
which
CAMDEN. N. J.-BONDS PROPOSED.-According to local inners,
Co. of Kansas City, Mo.,
this borough proposes to Issue $90,000 street-impt. bonds.
4.70% basis.
-BOND
.14
D
O.N.
CAMERON COUNTY DRAINAGE DISTRICT NO. 3,
AUSTIN SCHOOL DISTRICT, Santa Clara County, Cal.
5% bonds-were registered by the
OFFERING.-Proposals will be received until 11 a. m. Oct. 7, it is stated, REGISTERED.--On Sept: 14 $45,000
• • • • • • . • • ...
Stste Comptroller. -4 • •'• • • - - • •
for the $4,500 5% 2-10-yr (ser.) bonds voted July 22 (V. 95, p. 373.)
CAMILLA, Mitchell County, Oa.-BOND ELECTION.-An election
BALTIC, Tuscarawas County, Ohio.-BOND OFFERING.-Further
details are at hand relative to the offering on Oct. 18 of the $11,000 4 y,% will be held Oct. 9, it is stated, to vote on the proposition to issue $5,000
,
water-works-system oonds (V. 95, p. 496). Proposals for these bonds will school-bldg.-Impt., $2,500 sewerage-wstem-imnt., $10,000 electric-light
be received until 12 m.on that day by A. P. Hahn, Village Clerk. Denom. and water-works-system-impt. and $10,000 city-hall bonds.' • . • .
$500. Date Sept. 1 1912. Interest annually. Due $500 yearly on Sept. 1
Sept. 16 the three Issues of 4
Ohio.-BO:VD'SALE.-On
CANTON,
•
from 1914 to 1934, incl. Certified ,heck for 5% of bonds bid for, payable bonds, aggregating $18.500 (V. 95. p. 560) were awarded to Hayden, Miller
00
.3.70therbi
dosfoll$
3
:00
5
7
3,o
to the Village Treas., required. Bonds to be delivered within 10 days from & Co. of Cleveland for $18,862 50 (101.954) and in4
$
time of award. Purchaser to pay accrued interest.
SALE.-On Sept. 16
Issue.
Issue. Issue.
BARRY COUNTY (P. 0. Cassville). Mo.-BOND
$259 00 $88 75 $11 00
the $40,000 5% 3-10-yr. (opt.) court-house bonds (V. 95, p. 635) were Stacy & Braun, Toledo_
237 00
awarded to the Barry County Bank in Cassville at par. The Treasurer Well, Roth & Co., Cincinnati
....._
190 00
Seasongood & Mayer, Cincinnati
reports the other bids as follows:
th
Trust
Co.,
Chic_$40,0151Commonweal
171 25
&
_
Breed
Harrison,
Cincinnati
Bk.
Say.
&
Harris Tr.
$40,000
Louis__
..............
St.
75
00
7 50
33
102
40,0051
&
Toledo
Spitzer, Rorick
Co.,
Miss. Val. Tr. Co., St.'Louis_
Denom. $500. Date Sept. 3 1912. Int. M. & S.
CANUTILLO SCHOOL DISTRICT. Texas.-BOND ELECTION PRO-,
the
16
SALE.
-On
Sept.
-BOND
POSED.-Thls place will hold an election to vote on the question of Issuing
BAY CITY, BAY COUNTY, Mich.
were awarded to Otis & $5,000 school-house bonds, reports state.
$10,000 5% 5-yr. local-Impt. bonds (V.95, p. 700) 4.327%.
Other bids:
Co. of Cleveland at 103 and Int.-a basis of about
CAREY, Wyandott County, Ohlo.-BOND OFFERING.-Proposals
_$10,055
_
_
City..
Hochler & Cummings, Tol.$10,201 25 Bay City Bank, Bay
will be received until 12 m. Oct. 7 by D. C. Angus, Clerk. for $8,500 5%
E. H. Rollins & Sons, Chic. 10,187 701A. B. Leach & Co., Chicago.... 10,028 Vance St. Impt. (village's portion) bonds. Auth. See. $939 Gen. Code.
SW°
Bank,
Lumberman's
W. E. Moss & Co., Detroit 10,157 00
A. & 0. Due $1,000 yearly on
10,000 Denom. $500. Date Oct. 1 1912. Int.
Old Second Nat. Bank,
I Bay City
April 1 from 1914 to 1921 incl. and $500 And' 1 1922. Cert. check for 10%
Bay City
10,125 00
of bonds bid for, payable to L.S. Stahl, VII. Treas., required. Bonds to be
BELL COUNTY COMMON SCHOOL DISTRICT NO. 37, Tex.-BONDS delivered within 10 days from time of award. Purch. to pay accrued int.
AWARDED IN PART.-The State Permanent School Fund purchased at
CARLISLE SPECIAL SCHOOL DISTRICT (P. 0. Carlisle), Lonoke
par and int. on Sept. 10 $1,500 of an Issue of $3,000 5% 20-40-year
County, Ark.-DESCRIPTION OF BONDS.-The $20,000 6% 13-28-yr.
(opt.) building boads, dated M ay 1 1912.
bldg. bonds sold on Aug. 1 at par (V. 95, p.'701) are In thedenom.
(opt.)
BELMONT COUNTY (P.O.St. Clairsville), Ohio.--BONDS PROPOSED. of $500 each and dated Aug. 1 1912. Int. F. & A. • • • • . • . • • .
-This county has decided to Issue bridge bonds, reports state.
CECIL COUNTY (P. 0. Elkton), Md.-BOND OFFERING.-Further
BENWOOD UNION HIGH SCHOOL DISTRICT (P.O. Benwood), W.Va. details arc at hand relative to the offering on Sept. 24 of the $25,000 5%
-BOND OFFERING.-Proposals will be received until 2 p. m. Oct. 9 tax-free road-impt. bonds (V. 95, p. 701). Proposals for these bonds will
by C. L. Evans, Secy., or M. F. Deegan of Benwood and C. R. Lowe, of be received by the Co. Commrs., W. C. Martindell, Clerk. Denom. $500.
McMcchen, Commrs. for $80,000 5%coupon high-school-bldg. bonds. Date July 1 1908. Int. J. & J. at the Co. Commrs. office. Due $20.000
1,00ToE
bi.-A
fD
245 at election held May 25. Denom. $500. Dtae July 1 1928 and $5,000 July 1 1938. Cert.ch
N ors107
okfp
ec
drenqul•ed
Y._B
Auth. vote of 887 to'
July 1 1912. Int. J. & J. at the Bank or Benwood, In Benwood. Due
elecCEDARHURST, Nassau County, N.
July 1 1922 to July 1 1942. Official circular states that the district has
of
issuing
question
the
of
$30,000
favor
street..
in
resulted
16
tion held Sept.
never defaulted. Transcript of records will be furnished.
and $2,000 catch-basin bonds, reports state. . • . . • . . .
paving
BIG RAPIDS, Mecosta County, Mich.-BONDS DEFEATED.-The
CHANEYVILLE INDEPENEDNT SCHOOL DISTRICT, Tex.-BONDS
question of issuing $50,000 water-works bonds was defated at the election REGISTERED.
-The State Comptroller registered on Sept. 10 $7,000 5%
held Sept. 17.
bonds, dated July 1 1912.
20-40-year (opt.) building PART.
-Of the above amount, $2,000 was purBLACKVILLE SCHOOL DISTRICT NO. 19 (P.O. Black ville), Barnwell
BONDS AWARDED IN
OFFERING -Proposals will be received until chased at par and int. by toe State Permanent School Fund on the same day.
County, So. Caro.-BOND$20,000,
as originally advertised) 6.7 20-year
Oct. 1 for $16,500 (not
Mecklenburg
Caro.-BOND SALE.-Local
County.No.
CHARLOTTE,
R.
S.
Boylston is Sec. Board of School Trustees.
school bonds of *500 each.
papers state that this city has disposed of an Issue of $140,000 sewer bonds
(V. 95, p. 496)
-BOND
Sept. 16 $17,400 8067
Tenn.
SALE.
-On
CHATTANOOGA,
BLOOMFIELD, Essex County, N. J.-NO ACTION YET TAKEN.
paving bonds were awarded to the First Nat. Bank of Cleveland
The Town Clerk advises us, under date of Sept. 19, that no action has yet 1-4-year
1912.
int.
13
and
Aug.
Date
(101.87)
70
$17,726
issuance
of
the
$250,000 434% school and for
been taken looking toward the
water-impt. refunding bonds (V. 95, P. 434).
• CHESTER, Chester County, So. Car.-BOND SALE.-W. N. Coler'ilt
Y. were awarded at 101.51 an issue of *24,0005% 30-yr.refunding
BOMARTON INDEPENDENT SCHOOL DISTRICT '(P.70. 'Somerton), Co.of N.Y
Bayler County, Tex.-BONDS AWARDED IN PART.--On Sept. 10 bonds. Denom. $100. • Date Oct. 1 1912. Int. A.".8110.
r0
768
THE CHRONICLE
CHURDAN. lows.-BONDS VOTED.-The election held Sept. 17
resulted in favor of the proposition to issue $5,000 water-works and $10,000
electric-light-plant bonds (V. 95, p. 701). The vote was 100 to 13 and 96
to 17, respectively.
C LAR KE COUNTY (P.O. Quitman),, Miss.-BOND OFFERING.-Proposals will be received until 2 p. in. Oct. 7 by W. H. Foster, Clerk of Board,
for $50,000 (not $20,000 as at first reported) 5% 5-20-yr. (opt.) courthouse and jail bcads. Int. annual. Cert. check for $2,500 required.
CLEVELAND, Ohio.-BONDS AUTHORIZED.-Ordinances were
passed on Sept. 16 providing for the issuance of the following 4% coupon
bonds:
;175,000 Infirmary and hospital bonds. Due Oct. 1 1947.
125,000 fire-department bonds. Due Oct. 1 1947.
35,000 pollee-department bonds. Due Oct. 1 1947.
25,000 river and harbor bonds. Due Oct. 1 1947.
180,000 house of correction bonds. Due Oct. 1 1947.
225,000 park bonds. Due Oct. 11947.
50,000 refuge and correction bonds. Due Oct. 1 1947.
50,000 garbage-disposal bonds. Due Oct. 1 1952.
Denomination $1,000. Date Oct. 1 1912. Int. A. & 0.at the American
Exchange Nat. Bank in N. Y.
CLYDE INDEPENDENT SCHOOL DISTRICT (P. 0. Clyde), Callahan
County,Tex.-BONDS REGISTERED.-On Sept. 10 an issue of $6,000 5%
20-40-year (opt.) building bonds, dated July 1 1912, was registered by the
State Comptroller.
BONDS AWARDED IN PART.-Of the above amount $2,000 was purchased on the same day by the State Permanent School Fund at par and let,
COBLESKILL SCHOOL DISTRICT (P.O.Cobleskill), Schoharie County.
N. Y.-BONDS DEFEATED.-An election held Sept. 6 resulted in the
defeat of a proposition to issue $83,000 bonds. The vote was 131 "for"
to 142 "against.
CODY CANAL IRRIGATION DISTRICT Park County, Wyo.-BOND
OFFERING.-Proposals will be received until 2 p. m. Oct. 19 by the Board
of Directors (S. E. Eldred, Clerk, P. 0. Cody) for $95,000 6 % bonds.
Denom. $1,000. Interest semi-annual. Due serially from 11 to 20 years.
Inclusive.
COLERIDGE, Cedar County, Neb.--BOND OFFERING.-We are advised that the $8,500 5% 5-20-yr. (opt.) water-works-extension bonds
voted Aug. 5 (V. 95, p. 374) are now ready for sale. Date Sept. 1 1912.
COLLINGSWORTH COUNTY COMMON SCHOOL DISTRICT NO. 10,
Tex.-BONDS REGISTERED AND SOLD.-The State Comptroller
registered on Sept. 10 $3,000 5% 20-year building bonds, dated July 1 1912.
These bonds were purchased on the same day by the State Permanent
School Fund at par and interest.
COLUMBUS,Ohio.-BONDS AUTHORIZED.-Ordinances were passed
on Sept. 3 providing for the issuance of $3,000 alley cast of Ninth St. and
$4,000 Born St. Impt. 4% coupon assessment bonds. Denom. $1,000.
Date not later than March 1 1913. Int. M. & S. at office of City Tress,
Due Sept. 1 1924, subject to call beginning Sept. 1 1913.
Ordinances were also passed on Sept. 9 providing for the issuance of the
following coupon assessment bonds:
$1,000 4M% alley north of Markison Ave. sewer-construction bonds.
Date not later than March 1 1913. Due Sept, 11918, optional
beginning Sept. 1 1913.
23,000 4% Terrace Ave. Impt. bonds. Date not later than Sept. 1
1913. Due Sept. 1 1924.
10,000]14% Ninth Ave. Impt. bonds. Date not later than March 1 1913.
• Due March 1 1924.
1,000 4% alley west of Harris Ave. sewer bonds. Date not later than
March 11913. Due Sept. 11918, optional beg. Sept .1 1913.
8,000 4% Fourth St. Impt. bonds. Date not later than March 1 1913.
Due March 1 1924, opt. beginning March 1 1914.
6,000 4% Alden Ave. Impt. bonds. Date not later than Dec. 1 1912.
Due Sept. 1 1923, optional beginning Sept. 1 1913.
3,000 4% Wesley Ave. impt. bonds. Date not later than Dec. 1 1912.
Due Sept. 1 1923, optional beginning Sept. 1 1913.
3,000 4% Moler St. Impt. bonds. Date not later than March 1 1913.
Due March 1 1924, optional beginning March 1 1914.
4,000 4% Tompkins St. Impt. bonds. Date not later than Dec. 1 1912.
Due Sept. 1 1923, optional beginning Sept. 1 1913.
17,000 4% Richardson Ave. impt. bonds. Date not later than Sept. 1
1913. Due Sept. 1 1924.
5,000 4% alley south of Broad St. Impt. bonds. Date not later than
March 11913. Due Sept. 11924, opt. beginning Sept. 1 1914.
11,000 4% Shultz Ave. impt. bonds. Date not later than March 1 1913.
Due Sept. 1 1924.
.8,000 4% Waldeck Ave. impt. bonds. Date not later than March 1
1913. Due Sept. 1 1924, optional beginning Sept. 1 1914.
22,000 4% Burgess Ave. Impt. bonds. Date not later than Sept. 11913.
Due Sept. 1 1924.
Denom. $1,000. Int. M. do S. at office of the City Treasurer.
BOND SALE.-On Sept. 16 the eleven issues of 4% tax-free bonds held
by the Sinking Fund as an investment (V. 95, p. 701) were awarded ar
follows:
•
297,000 grade-Crossing bonds to Barto, Scott & Co. Columbus, and Well,
Roth & Co., Cincinnati, jointly for $306,49 20 (103.363) Due
Oct. 1 1947.
70,000 public-improvement No. 22 (city?s portion) bonds to the Ohio
National Bank, Barto, Scott & Co. and the Huntington National
Bank of Columbus for $70,732 (101.0457). Due Sept. 1 1921.
50,000 public-improvement No. 23 (city's portion) bonds to the New
First National Bank of Columbus for $50,612 (101.224). Due
Sept. 1 1921.
150,000 public-improvement No. 24 (city's portion) bonds to the New
First National Bank of Columbus for $151,577 (101.0513). Due
Sept. 1 1921.
15,000 police sub-station bonds to Well, Roth & Co. of Cincinnati for
$15,465 (103.10). Due Oct. 1 1939.
16,000 Haviland Ave. Improvement bonds to the New First National
Bank of Columbus for $16,183 (101.018).
• 19,000 Morrill Ave. Improvement bonds jointly to the Ohio National
Bank, Barto, Scott & Co. and the Huntington National Bank of
Columbus for $19,239 90 (101.262). Due Sept. 1 1921.
10,000 Thomas Ave.Improvement bonds to the Citizens' Trust & Savings
Bank of Columbus at 101.89. Due Sept. 1 1921.
27,000 Glenwood Ave. improvement bonds jointly to the Ohio National
Bank, Barto, Scott & Co. and the Huntington National Bank of
Columbus for $27,341 60 (101.26). Due March 1 1922.
9,000 Germania St. Improvement bonds to the Citizens' Trust & Savings
Bank of Columbus at 102. Due March 1 1922.
40,000 Central District cluster-lighting bonds jointly to the Ohio National
Bank, Barto, Scott & Co. and the Huntington National Bank of
Columbus at 100.64. Due March 1 1919.
COMANCHE COUNTY COMMON SCHOOL DISTIRCT NO. 65, Tex.
BONDS REGISTERED.-On Sept. 10 an issue of $10,000 5% 10-40-year
(opt.) building bonds, dated April 10 1912, was registered by the State
Comptroller.
BONDS AWARDED IN PART.-The State Permanent School Fund
purchased on the same day $3,000 of the above amount at par and interest.
COOPER, Delta County, Texas.-BONDS VOTED.-An election held
Sept. 7 resulted, reports state, in favor of the proposition to issue $6,000
40-yr. school bonds.
CORPUS CHRISTI. Nueces County, Tex.-DESCRIPTION OF BONDS.
-The $14,000 5% 10-40-yr. (opt.) sewer bonds awarded to Farson, Son &
Co. of Chicago at par and int. (V. 95, p. 701) are in denom. of $1,000 each
and dated Nov. 1 1909. Int. semi-ann.
COTTLE COUNTY COMMON SCHOOL DISTRICT NO. 17, Texas.
BONDS AWARDED IN PART.-Of an issue of $7,500 5% 10-40-year
(opt.) bonds dated April 10 1912, $2,500 was awarded on Sept. 10 to the
State School Fund at par and interest. Of this issue, $2,500 had previously
been sold (V. 95, p. 497).
CRETE, Will County, Ill.--BOND OFFERING.-Proposals will be received until 7:30 p. m. Sept. 28 by John Piepenbrink, Vii. Clerk, for the
59,000 5% coup. water-works-ext. bonds voted Aug. 10 (V. 95, p. 435).
Denom. $500. Date Sept. 11912. Int. M. & S. at the Illinois State Bank
of Crete. Due ;1,000 yriy. Sept. 1 from 1913 to 1921 incl. Cert. check
(or cash) for 10% of bonds, payable to the VII. Pres., required. Purchaser
to pay accrued int., furnish blank bonds In form designated by village anP
pay attorney fees. No debt at present. Assess. val. for 1911, $190,927.
[VOL. LXXXXV.
CROCKEIT COUNTY COMMON SCHOOL DISTRICT NO, 1, Texas.
BONDS AWARDED IN PART.-On Sept. 10 the State Permanent School
Fund purchased at par and Interest $2,000 of the $20,000 5% 5-40-year
(opt.) building bonds, dated June 10 1912, $12,000 of which have already
been disposed of (V. 95, p. 249).
CROWLEY SIXTH W ARD DRAINAGE DISTRICT, La.-BOND
OFFERING.-Proposals will be received until 2 p. in. Sept. 28 by L. A.
Williams, Sec.-Treas., (P.0. Crowley), for the $60,000 5% drainage-system
Improvement bonds voted Aug. 27 (V. 95, p. 636). Date Nov. 1 1912.
Interest semi-annual. Due serially from 1 to 31 years, with option to
redeem unpaid bonds after 20 years. Certified check for $1,000 required.
CUSTER COUNTY SCHOOL DISTRICT NO. 12, Mont.-BONDS
WI7'HDRAWN FROM MARKET.-The $2,000 bonds offered on Aug. 23
have been withdrawn from the market, we are informed, as It is too late in
the season to build.
CUSTER COUNTY SCHOOL DISTRICT NO. 19 (P. 0. Carlyle), Mont.
BOND SALE.-On Sept. 10 the $2,000 6% 4-5-yr. (opt.) coup. bldg.
bonds (V. 95, p. 561) were awarded to the State Board of Land Comm'rs of
Helena at par and int. A b d of $2,011 (100.55) was also received from the
First Nat. Bank of Barnesville, Ohio.
CUYAHOGA COUNTY (P. 0. Cleveland), Ohio.-BOND SALE.-On
Sept. 18 the $10,300 4% coupon Fischer Road No. 2 • county's portion
bonds (V. 95, p.561),were awarded to Otis & Co. of Cleveland for $10,345,
making the price 100.436. Other bids follow:
$10,313 Hayden, Miller & Co., Clev_$10,303
Well, Roth & Co., Cin
DALLAS CITY, Ore.-BOND SALE.-On Sept. 7 the $90,00020-25-yr.
gold
sewerage
system
bonds (V. 95, p. 435) were awarded to the
(opt.)
Merchants' Savings & Trust Co. of Portland for $90,951 (101.056) and int.
for 55. Other bids follow:
For 5s.
E. H. Rollins & Sons
$93,357
E. H. Rollins & Sons
$90,522 John Nuveen & Co., Chicago 92,782
N. W. Halsey & Co., San Fr_ 92,277
For 534s.
Carstens & Earles, Inc., Seat 94,491 Wm.E.Sweet & Co., Denver_90,052
Well, Roth & Co., Chicago
94,284 Farson, Son & Co., Chicago__ 91,818
DALLAS COUNTY COMMON SCHOOL DISTRICT NO. 9, Texas.
BONDS AWARDED IN PART.-The State School Fund was awarded on
Sept. 10 at par and int. $2,000 of an issue of $6,000 5% 20-year bonds dated
April 10 1912. Of these bonds $2,000 had already been disposed of (V.95,
p. 497).
DANVILLE, Boyle County, Ky.-BOND ELECTION.-In addition
to the $18,000 sewerage-system-exten. bonds to be voted upon at the November election (V. 95, p. 701), the proposition to issue $10,000 work-house
removing and prison-constr. bonds will also be submitted to the people
at that time.
DAVENPORT (TOWN) UNION FREE SCHOOL DISTRICT NO. 1
(P. 0. Davenport), Delaware County, N. Y.-BONDS VOTED.-The
question of issuing $4,000 building bonds received a favorable vote at an
election held recently. We are advised that these bonds will not be offered
until next spring.
DAWSON COUNTY SCHOOL DISTRICT NO. 70, Mont.-BOND SALE
-On Aug. 31 $1,200 6% 5-10-yr. (opt.) bldg. bonds were awarded to the
State Bd. of Land Comm'ra at par. Denom. $100. Date Aug. 31 1912.
Int. ann.
DAYTON, Ohio.-BOND OFFERING.-Proposals will be received
until 12 m. Oct. 7 by G. W. Bish, City Auditor, for the following coupon
bonds: $2,700 4% park-impt bonds. Denom. (2) $1,000 and (1) $700.
Due Sept. 1 1919.
15,200 4% bridge bonds. Denom. (14) 3I,000 and (1) $1,200 . Due
$1,200 Sept. 1 1924 and $2,000 yrly. Sept. 1 1925 to 1931
inclusive.
Date Sept. 1 1912. Int. semi-ann. In N. Y. Cert, cheek on a national
bank for 5% of bonds bid for, is required.
•
DEPORT INDEPENDENT SCHOOL DISTRICT (P. 0. Deport), Lamar
County, Tex.-BONDS AWARDED IN PART.-On Sept. 10 the State
Permanent School Fund purchased at par and Int. $4,000 of the issue of
$18,000 5% 10-40-year (opt.) building bonds registered by the State Comptroller on Aug. 28 (V. 95, p. 636). The bonds are dated July 1 1912.
DUNBAR. Fayette County, Pa.-BOND ELECTION.-An election will
be held Nov. 5, reports state, to vote on the question of issuing $25,000
street and sewer impt. bonds.
EAST CHICAGO SCHOOL DISTRICT (P.O. East Chicago), Lake County,
Ind.-BOND SALE.-We aro advised that this district has disposed of an
Issue of $75,000 5% coupon tax-free bonds. Date Aug. 1 1912. Int.
F. & A. at the First Nat. Bank in East Chicago.
EAST LIVERPOOL. Columbiana County, Ohio.-BONDS PROPOSED.
-Reports state that this city proposes to issue 315.000 street-impt. bonds.
EASTON, Northampton County, Pa.-BOND SALE.-We are advised
under date of Sept. 18 that the $45,000 4% 5-30-yr. (opt.) coup. tax-free
street-impt. bonds offered on Aug. 7 (V. 95, p. 205) have been sold to local
investors at par and int.
EAST PALESTINE, Columbiana County, Ohio.-BOND SALE.-On
Sept. 9 the $1,500 5% 2-4-yr. (ser.) street-Impt. (village's portion) bonds
(V. 95, p. 435) were awarded to the First Nat. Bank of East Palestine at
100.20 and int.
ELMWOOD INDEPENDENT SCHOOL DISTRICT (P. 0. Edgewood),
Van Zandt County. Tex.-BONDS AWARDED IN PART.-On Sept. 10
$3,000 of the $12,000 5% 15-40-year (opt.) building bonds registered Aug. 10
(V. 95, p. 497) were purchased by the State Permanent School Fund at par
and interest. Date May 6 1912.
Nev.-BOND SALE.-On Sept. 11 $60,000 6%
ELKO, Elko
bonds were awarded to Dien & Co. of Chicago, at
sewerage-systemCounty,
101.601. Due $3,000 Jan. 1 1915 and 1916, $4,000 1917, and $5,000 yriy
1918 to 1927 Inel. Int. ann. In Jan ary.
EL PASO. El Paso County, Tex.-BOND ELECTION.-Aa election will
be held shortly, it is expected, to vote on the issuance of $400,000 municipal bonds.
EL PASO COUNTY (P. 0. El Paso), Tex.-BONDS VOTED.-An election held Sept. 2 resulted in favor of the proposition to issue the $71,000
irrigation bonds (V. 95, p. 561). The vote, reports state, was unanimous.
ERIE COUNTY (P. 0. Sandusky), Ohio.-BOND OFFERING.-Proposals will be received, it is stated, until 12 m. Oct. 17 by John Deist, Co.
Cert,
Aud., for $43,000 4% refunding bonds. Interest semi-ann.
check for 5% required.
-BOND
OFFERING.
Ohio.
TOWNSHIP,
-ProOttawa County,
ERIE
posals will be received until 12 in. Sept. 30 by 0. E. Knight, Twp. Clerk.(P.
0. Port Clinton), for $10,000 5% public-highway bonds. Auth. Sec. 7035
Sept.
30
1912.
Date
Int. M. &
to 7049, Incl., Gen. Code. Denom. $500.
S. Due $1,000 yearly on Sept. 30 from 1927 to 1936 incl. Cert. cheek on
an Oak Harbor or Port Clinton, Ohio, bank for $300, payable to the Twp.
days
from
10
within
time of award.
Treas., required. Bonds to be delivered
Purchaser to pay accrued interest.
ESSEX COUNTY (P. 0. Salem), Mass.-NOTE SALE.-On Sept. 16
Mo.MchB
.
9
E
5R
,I
pN
.7
the $130,000 Fox Hill bridge tax-free notes due
0
0.
1),
were awarded to the Central Nat. Bank, Lynn, at 4.85% discount.
EXCELSIOR SPRINGS, Clay County, Mo.-BOND OFFERING.Proposals will be received until Sept. 30 by W. A. Craven, City Clerk, for
$22,000 5% 20-yr. main-sewer-constr. bonds. Auth. vote of 288 to 49 at
election held Sept. 12. Denom. *100 to $1,000. Int. semi-ann.
FIFTH LOUISIANA LEVEE DISTRICT, La -BOND SALE.-The
Commercial Germania Trust & Say. Bank and the Whitney Central Trust
& Say. Bank of New Orleans were jointly awarded on Sept. 11 at 100.258
an issue of $250,000 bonds.
FLORESVILLE. Wilson County, Tex.-BONDS TO BE ISSUED
SHORTLY,-Reports state that this city will sell an issue of $20,000 school
bldg. bonds in the near future.
FOND DU LAC. Fond du Lac County, Wis.-BOND OFFERING.-Proposals will be received until 3 P. m. Oct. 8 by J. F. IIohensee, City Clerk,
for the $25,000 5% water-works bonds (V. 95, p. 561). Cert. check for
$250, payable to the City Treas., required.
FRUITLAND SCHOOL DISTRICT (P.O. Fruitland). Humboldt County,
Cal.-BOND ELECTION.-Reports state that an election will be held
Oct. 9 to decide whether or not this district shall issue $35,000 5% building
bonds
SEPT. 21 1912.]
THE CHRONICLE
769
HAZLETON, Luzerne County. Pa.-NO ACTION YET TAKEN.
SALE.-On Sept. 17
FULTON COUNTY (P.O.Wauseon), Ohio.-BONDp.
561) were awarded No action has yet been taken looking towards the issuance of the $250,000
the $20,000 4% Road No. 60 impt. bonds (V. 95,
and street-paving bonds (V.95, p. 435.)
sewer-construction
follow:
bids
Other
int.
and
101.30
at
Col.
of
Bank
Nat.
First
to the New
00I Rothfuss, Barnes & Co., Tol.$20,201
HEMET, Riverside County. Cal.-BOND SALE.-Torrance, Marshall &
Hayden,Miller& Co.,Cleve.$20,216 00
20,110
Co. of Los Angeles have been awarded the $44,000 6% 1-40-yr. sewerage
First Nat. Bank, Cleve__ 20,209 80 Breed & Harrison, Cin
20,057 bonds voted Aug. 3 (V. 95, p. 435) at 107.20 and int. Denom. $1,000 and
Spitzer, brick & Co., Tel
Well, Roth & Co., Cin____ 20,202
Date Sept. 1 1912.
$100.
-BOND
Mont.
65.
NO.
DISTRICT
SCHOOL
GALLATIN COUNTY
to the
HENDERSON COUNTY COMMON SCHOOL DISTRICTS. Tex.-BOND
SALE.-On Aug. 21 $1,000 8% 8-10-yr. (opt.) bonds were awardedAug.
1 SALES.-On Sept. 10 the State Permanent School Fund purchased at par
State Board of Land Commissioners at par. Denom. $100. Date
and interest the following 5% 5-20-year (opt.)bonds,dated April 10 1912,
1912. Int. ann. at the County Treasurer's office.
-The premiums offered for registered by the State Comptroller on Aug. 19 (V. 95, p. 637): $400 bonds
GALION. Crawford County. Ohio.-BIDS.
of District No. 14 and $1,000 bonds of District No. 54.
$45,500,
aggregating
bonds,
assess.
the four issues of 4 A % street-impt.
HENRIETTA, Clay County, Texas.-BONDS OFFERED BY BANKawarded Sept. 9 to the Davies-Bertram Co. of Clue. (V. 95, p. 702) were as
& Co. of Chicago are offering to investors the $18,000 5%
ERS.-Ulen
Mews:
$12,000 $14,000 $17,000 $2,500 15-40-year (opt.) water-works-system bonds registered by the State Compissue.
issue.
issue.
issue.
troller on Aug. 19. Denom. $500. Date June 1 1912. Int. annualy IR
$365 00 $461 00 $541 00 *66 00 Henrietta or at the office of Men & Co.
Davies-Bertram Co., Cincinnati
28 00
367 00 443 00 538 00
New First Nat. Bank, Columbus
HIGHLAND PARK SCHOOL DISTRICT (P. 0. Highland Park).
360 00 420 00 514 00
Otis & Co., Cleveland
Mich.-BOND SALE.-On Sept. 12 the $16,000 bldg
29 25 Wayne County,
50
467
00
385
00
330
Cincinnati
Well, Roth & Co.,
(V. 95, p. 637) were awarded to the Union Trust Co. of Detroit for
bonds
49 88
326 60 400 96 460 60
Stacy & Braun, Toledo
(100.293) for 4;is. The bids follow:
57 00 $16,046 46
304 00 385 00 425 00
Barto, Scott & Co., Columbus
For 4 Xs. For 4 %s. For 4 5(s.
For 53.
60 00
302 00 379 00 432 00
Hayden, Miller & Co., Cleveland
Trust Co., Detroit_ 316,046 46 $16,160 00 $16,275 00 $16,388 80
56 60 Union
294 60 368 30 428 60
First National Bank, Cleveland
Geo. D. Cooney, Detroit__ 16,003 00 16,066 00 16,185 00 16,281 00
Provident Savings Bank 4c Trust Co.,Cin. 288 00 361 20 423 30
16,051 00
38 00 Security Trust Co., Detroit
286 00 360 00 410 00
Seasongood & Mayer, Cincinnati
HONEY GROVE. Fannin County, Tex.-BONDS REGISTERED.-The
GAUSE INDEPENDENT SCHOOL DISTRICT (P. 0. Clause). Milam State
Comptroller
registered
$14,000
20-40-year
5%
(opt.) building bonds,
County, Tex.-BONDS REGISTERED.-An issue of 19,000 5% 10-40-Year dated Aug. 1 1912, on Sept. 10.
(opt.) building bonds, dated Aug. 1 1912, was registered on Sept. 10 by the
BONDS AWARDED.IN PART.-Of the above amount $3,000 was purState Comptroller.
chased by the State Permanent School Fund at par and Int. on the same day.
BONDS AWARDED IN PART.-On the same day $3,000 of the above
HORSE CAVE SCHOOL DISTRICT (P. 0. Horse Cave), Hart County,
amount was purchased at par and int. by the State Permanent School Fund.
Ky.-BONDS VOTED.-An election held Sept. 16 resulted in favor of the
PI GLEN COVE. Nassau County, N. V.-BOND SALE.-On Aug. 12 proposition to issue 2-30-yr. school-bldg. bonds. The vote was 157 to 8.
Forbes
1138,000 4 A% 5-27-yr. (ser.) sewer bonds were awarded to Harris,
HOWARD COUNTY (P. 0. St. Paul), Neb.-BOND SALE.-On Sept. 2
& Co. of N. Y. at 101. Denom.$1,000. Date Sept. 3 1912. Int. M.& S. the
following bids were received for the $75,000 4 A % coup. court-houseGORDON COUNTY (P. 0. Calhoun), Ga.-BONDS DEFEATED.-The bldg. and equip. bonds (V. 95. p. 562):
question of issuing the $150,000 road-impt. bonds (V. 95, p. 636) failed to N. W. Halsey & Co., Chic__$77,8951Woodin,McNear&Moore,Chic$76,490
"for"
193
carry, it is reported, at the election held Sept. 13, the vote being
A. J. Hood & Co., Detroit__ 77,769lEmery, Peck & Rockwood,Ch.73,156
'and 860 "against."
All bidders offered accrued interest in addtlion to their bids.
GRAPELAND INDEPENDENT SCHOOL DISTRICT (P.O. Grapeland).
HUNTSVILLE. Madison County, Ala.-BOND SALE.-On Sept. 12
Houston County, Texas.-BONDS AWARDED IN PART.-On Sept. 10 $17,600 6% 10-year gold coupon public-impt. tax-free assessment bonds
the State Permanent School Fund purchased at par and int. $3,000 5% were disposed of at par, we are advised. Int. M. & S. at the Mechanics'
20-40-year (opt.) building bonds, dated June 3 1912. These bonds are part & Metals' Bank in New York.
of an issue of $10,000, $3,000 of which have already been sold (V.95, p.498).
HUTCHINSON, Reno County, Kans.-BOND ELECTION PROPOSED.
GRAY COUNTY COMMON SCHOOL DISTRICT NO.7,Texas.-BONDS -The
question of Issuing $25,000 sewerage-system bonds may be submitted
AWARDED IN PART.-On Sept. 10 $2,550 5% 20-40-year (opt.) building to the voters, it is reported, at the fall election.
bonds, dated May 13 1912, were purchased at par and int. by the State PerIBERIA PARISH (P. 0. New Iberia), La.-BOND ELECTION REmanent School Fund. These bonds are part of an issue of $8,500, $2,550
SCINDED.-Reports state that the election which was to have been held
of which has already been sold (V. 95, p. 250).
Sept. 10 to vote on the question of issuing the $180,000 20-year road bonds
GLENVILLE (Townt UNION SC&OOL DISTRICT 60.2, N. Y.-BOND (V'. 95, p. 498) had been called off by the Police Jury.
ffALE.-On Sept. 9 $12,000 5% school bonds were awarded to Adams 46
IRONWOOD TOWNSHIP (P. 0. Ironwood). Gogebic County, Mich.Co. of N. Y. at 102.04. Denom. $1,000. Date July 1 1912. Int. j. &J.
Rue $500 yrly. Jan. 1018 to 1923 incl. and $1,000 yrly. from 1924 to 1932 BONDS DEFEATED.-At an election held Sept. 12 the proposition to issue
$40,000 improvement bonds was defeated. The vote was 43 "for" to 70
Inclusive.
"against."
GREAT BEND,Susquehanna County, Pa.-NO ACTION YET TAKEN.
JACK COUNTY COMMON SCHOOL DISTRICT NO. 55, Tex.-BOND
-No action will be taken looking towards the issuance of the $5,000 pavSALE.-On Sept. 10 the remaining $1,500 of the issue of $2,500 5% 15-40
State
ing bonds voted Aug. 6 (V. 95, p. 374), we are Informed, unt 1 the
year (opt.) building bonds, *1,000 of which was sold recently (V.95, p. 499),
authorities start their part of the work.
was purchased by the State Permanent School Fund at par and interest.
GREENSBORO, Guilford County. No.Car.-'BOND SALE.-On Sept. 16
JAMEST3WN. Chautauqua County, N. Y.-BONDS VOTED.-An
the three issues of 5% 30-year coupon bonds, aggregating $80,000 (V. 95,
held Sept. 14 resulted In favor of the proposition to issue $150,000
election
Greensp 636) were awarded to the American Exchange National Bank in
4 A % water-works-extension bonds. The vote was 171 to 54. Due $7,500
boro at 102.81625-a basis of about 4.822%. Other bids follow:
Well, Roth & Co., in_ _ _ _$82,200 001R. M. Grant 40 Co., Tel_ _$81,342 40 yearly.
JAMESTOWN SCHOOL DISTRICT (P. 0. Jamestown), Chautauqua
Baker, Watts 4c do., Bait _ 81,676 801R.Kleybolte&Co.,Inc.,C1n. 81,328 00
I Provident Savings Bank &
County, N. Y.-BOND ELECTION.-An election will be held Sept. 24
Bolger, Messer 46 Willa81,610 ool Trust Co., Cincinnati__ 80,696 00 to veto on the question of issuing $109,000 bonds, reports state.
man, Chicago
Stacy & Braun, Toledo_ _ _ 81,357 00 IIome Say. Bk., Greensb_ 10,358 50
JAMESTOWN SCHOOL DISTRICT, Tuolumne County, Cal.-DEGREENVILLE, Mercer County, Pa.-BOND SALE.-The Colonia SCRIPTION OF BONDS.-The $2,000 6% 4-year building bonds awarded
on Aug. 17 to W. J. Lord at 102.50 (V. 95, p. 637) are in the denom. of
Trust Co. of Pittsburgh was awarded $23,000 bonds, It is stated.
dated Aug. 5 1912. Interest annual.
GREENE COUNTY (P. 0. Springfield). Mo.-BONDS VOTED.-An $500 each and
JERSEY CITY, N. J.-BONDS NOT SOLD.-No bids were received oa
election held in Brookline-Springfield Special Road Dist. on Aug. 31,
constr.
Sept. 17 for the $332,000 50-yr. school and $150,000 30-yr. water 431%
resulted, It Is stated, in favor of the proposition to issue $18,000 road
gold coup. or reg. bonds (V. 95, p. 637), it is reported.
bonds.
JEWELL, Iowa.-BOND ELECTION.-On Oct. 14 a vote will be taken
GUADALUPE COUNTY COMMON SCHOOL DISTRICT NO.6. Texas.BONDS REGISTERED.-The State Comptroller registered on Sept. 10 on a proposition to issue $5,000 water bonds.
$7,000 5% building bonds, dated April 10 1912.
JOURDANTON
INDEPENDENT SCHOOL DISTRICT (P. 0. JourdanBONDS AWARDED IN PART.-The State Permanent School Fund ton), Atascosa County, Tex.-BONDS AWARDED IN PART.-The
purchased at par and int. $2,625 of the above bonds on the same day State Permanent School Fund purchased at par and mat on Sept. 10 $3,000
(Sept. 10).
of the $18,500 5% 10-40-year building bonds dated June 1 1911, $10,000 of
GUILFORD COUNTY (P.O. Greensboro), No. Caro.-BONDS VOTED. which has already been sold (V. 95, p. 251).
-The election held Sept. 17 resulted ,it is stated, In favor of the propoKANE COUNTY (P.O. Geneva), Ill.-BOND ELECTION.-At the Nositions to issue the $100,000 Gilmer Twp. and $100,000 Moorehead Twp. vember
election the voters will have submitted to them the question of israilway-aid bonds (V. 95, p. 498.)
suing not exceeding $25,000 soldiers' monument bonds, according to reGUYMON, Texas County, Okla.-BONDS PROPOSED.-According to ports.
reports, this city is considering the issuance of $8,000 bonds to pay outKIRKSVILLE. Adair County. Mo.-BOND ELECTION.-The voters of
standing warrants.
this place will have submitted to them on Oct. 8 the question of issuing
HAMILTON, Hancock County, III.-BONDS OFFERED BY BANK- $99,000 water-works and light bonds, according to reports.
ERS.-The H. C. Speer & Sons Co. of Chicago is offering to investors
KISSIMMEE, Osceola County, Fla.-NOTE SALE.-This place has
$20,000 5% 10-19-year (serial) water-works bonds. Denom. *100. Date
8% general notes (V. 95, p. 436), we are advised.
March 1 1912. Int. annually in March at Chicago. No other debt. disposed of the $60,000
LAKE COUNTY SCHOOL DISTRICT Ore.-BOND OFFERING.Assessed valuation in 1911, $614,089.
2 p. m Oct. 2, it is stated, by F. A. AhlHAMLIN INDEPENDENT SCHOOL DISTRICT (P. 0. Hamlin), Jones Proposals will be received until
Lakeven), for $5,000 coupon building bonds.
County, Tex.-BONDS REGISTERED.-An issue of $4,500 5% 10-20-year stron, County Treas. (P. 0.
LAVON INI5EPENDENT SCHOOL DISTRICT (P. 0. Lavon), Collin
(opt.) Wilding bonds, dated Nov. 27 1911, was registered by the State
County, Tex.-BONDS AWARDED IN PART.--The State Permanent
Comptroller on Sept. 10.
BONDS AWARDED IN PART.-Of the above amount $3,000 was pur- School Fund purchased at par and int. on Sept. 10 $3,000 5% 20-40-year
(opt.)
Fund
int.
and
School
at
building bonds dated June 10 1912. These bonds are part of an issue
par
Permanent
the
by
day
State
chased on the same
of $9,000, $3,000 of which has already been disposed of V. 95, p. 251).
HANFORD SCHOOL DISTRICT (P. 0. Hanford). Kings County, Cal.on
cast
favorable
vote was
LEAVENWORTH. Chelan County, Wash.-BONDS VOTED.-The
BONDS VOTED.-According to reports, a
Sept. 4 on the question of Issuing $36,000 site-purchase, building and impt. election held Aug. 20 resulted, it is stated, in favor of the proposition to
issue
the $44,000 water-system bonds (V. 95, p. 499.)
bonds.
LEWIS COUNTY (P. 0. Hohenwald), Tenn.-BOND 5ALE.-0a
Harlan County, Sept.
HARLAN GRADED COMMON SCHOOL DISTRICT.
10 the $10,000 5% 10-year coupon school-impt. tax-free bonds
Ky -BONDS OFFERED BY BANKERS.-Ulen & Co. of Chicago are (V. 95, p. 436) were awarded to John Nuveen & Co. of Chicago at 100.76,
offering to investors $8,000 6% 10-20-year (opt.) building bonds. Denom. interest and blank bonds. Other bids follow:
4500. Date Aug. 1 1912. Int. annually In August at the First Nat. Bank C. H. Coffin, Chicago
$10,076 Allerton,Greene &King,Ch Ic_ _$10,000
at Harlan or at tho office of Ulen & Co.
C. F. Childs & Co., Chicago
10,075 Prov. S. B. &. Tr. Co., Cin__ 10,000
10,050 New First Nat. Bank, Colum. 9,750
Chicago
Cutter,
Co.,
&
May
NO,
SCHOOL
DISTRICT
Tex.
27,
COMMON
HARRIS COUNTY
BONDS REGISTERED AND SOLD.-An issue of $1,500 5% 10-20-year H.C.Speer & Sons Co., Chic_ 10,025 Spitzer, Rorick & Co., Tol__ 9,705
bonds, dated July 10 1912, were registered by the State Comp. on Sept. 10. Chapman, Mills & Co., Chic_ _ 10,022
These bonds were purchased on the same day by the State Permanent
LINDEN SCHOOL DISTRICT (P. 0. Linden), Union County N. J.School fund at par and interest.
BONDS DEFEATED.-At an election held Sept 6 the proposition to issue
HARRIS COUNTY COMMON SCHOOL DISTRICT NO. 48, Tex.- $30,000 building bonds was defeated. The vote was 61 "for" to 113 against.
BONDS REGISTERED.-On Sept. 10 the State Comptroller registered
LITCHVILLE, Barnes County, No. Dak.-BOND OFFERING.-Pro$6,000 5% 10-20-year (opt.) building bonds dated July 10 1912.
posals will be received until Oct. 11 for $2,500 5% 20-yr. artesian-well
BONDS AWARDED IN PART.-On the same day $2,100 of the above bonds. Auth. vote of 21 to 1 at election held Sept. 10.
amount was purchased by the State Permanent School Fund at par and int.
LITTLE FALLS SCHOOL DISTRICT (P. 0. Little Falls), Morrison
HARRISON. Hamilton County, Ohio.-BOND SALE.-On Sept. 16 the County, Minn.-BOND ELECTION PROPOSED.-An election will be
$1,000 5% State Ave. Impt. bonds (V. 95, p. 498,) were awarded to Well, held soon, reports state, to vote on a proposition to Issue about $100,000
Roth & Co. of CInc. at 104.50 and int. Other bids follow:
building bonds.
M.S. Pond, Somerset....
$1,0401Stacy & Braun, Toledo ___$1,029 65
LITTLE FALLS SCHOOL DISTRICT (P. 0. Little Falls), Passaic
HARRISON COUNTY (P. 0. Gulfport). miss.-BOND OFFERING.
- County, N. J.-BOND SALE.-On Sept. 19 $26,000 4 A % coupon school
Further details are at hand relative to the offering on Oct. 7 of the $15,000 bonds were awarded, $20,000 to the Hamilton Trust Co. In Paterson and
5% Supervisor's District No. 3 road bonds (V. 95, p. 702). Proposals for $6,000 to the Little Falls Nat. Bank in Little Falls at 100.25. Date July 1
these bonds will be received until 12 m,on that day by F. S. Hewes, Clerk 1912. Int. J. & J. Due $2,000 in 1917 and $3,000 yearly from 1918 to
Board of Supervisors. Denom. $100. Date Nov. 1 1912. Int, annual. 1925, Inclusive.
Due $1,000 yrly. on Nov. 1 from 1923 to 1937 incl. Cert. check for $200,
LITTLE ROCK SCHOOL DISTRICT NO. 4, Dillon County, So. Caro.payable to A. J. Bond, Prest. of Co. Supervisors, required. Purchaser
BONDS OFFERED BY BANKERS.-An issue of $8,000 8% building
to pay cost of preparing and lithographing l000nds.
bonds is being offered to investors by Uien & Co. of Chicago. Denom.
HARTWELL, Hamilton County, Ohlo.-BONDTSALE.-The $4,000 $1,000. Date July 1 1912. Int. J. & J. at the Continental & Commercial
5% 1-5-yr. (ser.) Burns Ave. impt. assess, bonds offered on Aug. 21 National Bank, Chicago. Due July 1 1932.
(V.95, p. 250) were awarded to Mayer, Deppe & Walter of Cino. at 101.875.
LOCKLAND. Hamilton County, Ohio.-BOND SALE.-On Aug. 20
HASBROUCK HEIGHTS. Bergen County. N.J.-BOND ELECTION.- the $1,050 43% 10-year Wayne Ave. Impt. bonds (V. 95, p. 251) were
An election will be held Oct. 8 to vote on the question of issuing $125,000 awarded to the First National Bank of Lockland for $1,075 (102.38) and
interest. No other bids were received.
sewerage and sewage-disposal-plant bonds.
770
THE CHRONICLE
LONGVIEW. Gregg County, Texas.-BONDS REGISTERED.-On
Sept. 9 $20,000 5% 20-40-year (opt.) water-works bonds were registered
by the State Comptroller.
LORAIN, Lorain County, Ohio.-BONDS AUTHORIZED.-An ordinance was passed Sept. 4 providing for the issuance of $1,437 23 6% coupon
sewer-impt. assessment bonds. Denom. (1) *427 23, (2) $500. Date
Sept. 15 1912. Interest M. & S. Due Sept. 15 1913.
An ordinance was also passed on the same day providing for the issuance
Of $20,000 4 3i% coupon park-impt. bonds. Auth. Sec. 3939 Gen. Code.
Denom. $500. Date Nov. 15 1912. Int. M. & S. at office of Sinking
Fund Trustees. Due Sept. 15 1932.
BOND OFFERING.-Proposals will be received until 12 m. Oct. 11
Black River water front
by E. P. Keating, City Aud., for $5,000 4
impt. bonds. Auth. Sec. 3939 Gen. Code. Denom.$1,000. Date Sept. 15
1912. Int. M. & S. at office of Sinking Fund Trustees. Due $1,000 yrly.
on Sept. 15 from 1920 to 1924 inel. Cert. check on a national bank or
any Lorain bank for $250, payable to the City Treas., required. Bonds
to be delivered within 10 days from time of award.
LOS GATOS, Santa Clara County, Cal.-BONDS AUTHORIZED.
Reports state that a resolution was passed recently providing for the
issuance of $600 town-park; $10,000 town-hall; $30,000 sewer, and $36,000
paving bonds.
LOWVILLE, Lewis County, N. Y.-BONDS DEFEATED.-The
question of issuing the $9,000 arch-constr. bonds (V. 95, p. 702) failed to
ista,t, the election held Sept. 17. The vote was 147 "for" and 196
caagrz,
LUBBOCK COUNTY COMMON SCHOOL DISTRICT NO. 2, Tex.
BONDS REGISTERED.-On Sept. 10 an issue of $1,000 5% 10-20-year
(opt.) bonds was registered by the State Comptroller.
LUBBOCK COUNTY COMMON SCHOOL DISTRICT NO. 20, Tex.
BOND SALE -On Sept. 10 $1,000 5% 20-year building bonds, dated
June 10 1912 were awarded to the State Permanent School Fund at par
and interest.
MACEDONIA, Pottawattamie County, lowa.-BOND OFFERING.
Proposals will be received until 1 p. m. Oct. 1 by W.C. Miller, Town Clerk.
for $8,000 water-works-system bonds. Auth. Sec. 1306, supp. to Code
1907. Denom. $500. Date Nov. 1 1912. Interest annually in January
at the Macedonia State Bank. Due $500 yearly on Jan. 1 from 1917 to
1932, incl. Bonds are exempt from all taxes. Certified check (or cash) for
$150, payable to the Town Clerk, required. No other debt. Assessed
• • • Pr
value $254,288.
•
MADISONVILLE,Madison County. Texas.-BONDS TO BE OFFERED
SHORTLY.-We are advised that the $16,000 water-works bonds voted
July 16 (V. 95, p. 314) will soon be ready for sale.
-BOND OFFERING.
MAMARONECK, Westchester County, N. Y,
Proposals will be received until 8.30 p. m. Sept. 26 by Chas. W. Buckler,
VII. Clerk, for the following bonds at not exceeding 5% interest:
$35,000 street-impt. bonds. Denom. $1,000 and $333 34. Due $2,333 34
yearly on Oct. 1 from 1917 to 1931 incl.
24,000 sewer bonds. Denom. $1,000 and $600. Due $1,600 yrly. on
Oct. 1 from 1917 to 1931 incl.
Date Oct. 1 1912. Int. A. & 0. Cert cheek payable hr New York, on
bank for 5% of bonds, required. Similar issues of
incorporated
a duly
bonds were reported sold on Aug. 31 to Curtis & Sanger of N. Y. (V. 95,
p. 436.)
MANATEE COUNTY (P. 0. Bradentown), Fla.-BOND SALE.-We
are advised that the $50,000 5% refunding school bonds were purchased
by Duke M. Farson of Chicago and re-sold by him to Farson, Son & Co. of
Chicago, as reported in last week's "Chronicle."
MANHATTAN. Riley County, Kans.-BOND SALE.-Hoehler & Cummings of Toledo were awarded at par and int. $70,274 5% 1-10-year (serial)
street-impt. bonds. Denom. (130) $500 and (10) $527 40. Date Sept. 1
....
..
.
.
1912. Interest M. & S.
MAR ICOPA. Kern County, Cal.-BOND OFFERING.-Proposalsiwill
be received until Oct. 1 by E. E. Ballagh, City Clerk, for the $16,000 6%
1-16-year (serial) gold coupon sewer-system bonds (V.95, p. 375). Denom.
$500. Date Jan. 1 1913. Int. J. & J. at the City Treasurer's office.
Certified check for 10% of bid, payable to the Clerk, Is required.
MARION COUNTY (P. 0. Marion), Ohio.-BOND OFFERING -Proposals will be received until 12 m. Oct. 1 by Chas. L. Justice, Pros. Att'y of
Turn. Comm'rs, for 7,500 5% coup. Firstenberger Free Turnpke bonds.
Auth. Sec. 7283, Gen. Code. Denom. $500. Date Oct. 1 1912. Int.
A. & 0. at office of County Treas. Due $500 on Mch. 1 and Sept. 1 1913.
$500 on Mch. 1 and $1,000 on Sept. 1 1914 and 1915; 8500 Mch. 1 and
Sept. 1 1916; $1,000 Mch. 1 and Sept. 1 1917 and $500 Mch. 1 1918. Cert.
check on a Marion bank for $300, payable to the Road Comm'rs, required.
MASON CITY. Cerro Gordo County, Iowa.-BOND SALE.-We are adwater-works-impt. bonds offered without sucvised that the $50,000 4
cess on July 30 (V.95, p. 375) have been disposed of at private sale ..
MATTOON SCHOOL DISTRICT NO. 99 (P. 0. Mattoon). Coles County.
Ill.-BONDS VOTED.-An election held Sept. 7 resulted, it is stated, in
favor of the question of issuing $1,000 building bonds.
MECHANICVILLE. Saratoga Coun ey, N. Y.-BOND OFFERING.
Proposals will be received until 8 p. m. Sept. 25 by A. W. Smith, Village
Clerk, for the $22,241 5-27-year (serial) paving bonds at not exceeding
5% int., reports state. Auth. election June 19 (V. 94, p. 1780). Interest
semi-annual. Certified check for $1,000 required
MEDFORD, Middlesex County, Mass.-TEMPORARY LOAN -A loan
Co., Inc.,
of $25,000 due May 5 1912 was negotiated with N. W. Harris &
of Boston at 4.48% discount, it Is stated.
MERIDIAN INDEPENDENT SCHOOL DISTRICT (P. 0. Meridian),
Bosque County. Tex.-BONDS AWARDED IN PART.-Of an issue of
$21,000 5% 40-yr. bldg. bonds dated Apr. 6 1912, $5,000 were awarded to
the State Permanent School Fund on Sept. 10 at par and int.
MIDDLETOWN, Butler County, Ohio.-BOND OFFERING.-Proposals will be received until 12 m. Oct. 14 by W. Gibbing, City Aud., for $1,500
4
fire dept. No. 2 impt. bonds. Auth. Sec. 3939, Gen. Code. Denom.
$500. Date Oct. 1 1912. Int. at the Nat. Park Bank in N. Y. Due
$500 Oct. 1 1915, 1916 and 1917. Bonds to be delivered and paid for
within 10 days after date. Cert. check for $100 required. Purch. to pay
accrued interest.
MILWAUKEE, Milwaukee County, Wis.-BONDS AWARDED IN
PART.-On Sept. 18 $325,000 of the five issues of tax-free bonds, aggregating $525,000 (V. 95, p. 703) were awarded jointly to N. W. Halsey &
Co. of Chicago and the First Trust & Say. Bank of Milwaukee, it is stated.
BONDS NOT YET SOLD.-No award has yet.been made of the remaining$15,000 of the $40,000 4 %(% fire-department bonds, $25,000 of
which were recently disposed of (V. 95, p. 375).
BOND ELECTION.-Local papers state that the question of issuing
$30,000 library bonds will be submitted to the people at the November
election.
OFFERMILWAUKEE COUNTY (P. 0. Milwaukee), Wis.-BOND
V. Schmidt,
ING.-Proposals will be received until 3 p. m. Oct. 8 by Chas.
ome bonds. Denom. $1,000.
Co. Treas., for $220,000 434% county-h
Date Oct. 15 1912. Int. A. & 0. at office of Co. Treas. Due $11,000
yrly. on Oct. 15 from 1913 to 1932 incl.
MINNEAPOLIS, Minn.-BOND OFFERING.-Proposals will be received until 2 p. m Oct. 3 by Dan C. Brown, City Comptroller, for the
following bonds:
$50,000 4% Bassett's Creek impt bonds. (V. 95, p. 703). Date Sept. 1
1912. Int. M. & S. Due Sept. 1 1942. Bids will not be entertained for less than 95% of par value of bonds. Denom. *50,
$100, $500 and $1,000 as purchaser may desire.
15,775 special street acquisition and impt. bonds at not exceeding 5%
int. Date Oct. 1 1912. Interest annually in October. Due onefifteenth yearly Oct. 1 1913 to 1927, inclusive. Denom. (14)
$1,050 an 1 (1) $1,075.
Bonds are tax-exempt in Minnesota. Certified check for 2% of bonds
bid for, payable to C. A. Bloomquist, City Treasurer, is required.
The official notice of this bond offering will be found among the advertisements elsewhere ih this Department.
MINEOLA, Nassau County, N. Y.-BOND OFFERING.-Proposalr
wIll be received until 8 p. m. Oct. 4 by A. F. Buhler, Village Clerk, os f
Lxxxxv.
$5,000 water-main-ext. bonds at not exceeding 5% interest. Denom.
$500. Due $500 yearly from 1915 to 1924, incl. Cert. check for 5% of
bid required.
MINSTER, Auglaize County, Ohio.-BOND SALE.-On Sept. 12 the
$20,000 4% 4-43-year (serial) coupon water-works-impt. bonds (V. 95,
p. 499) were awarded to Davies-Bertram Co. of Cincinnati at 100.755 and
interest. Other bids follow:
Well, Roth & Co., Cincinnati.$20,075 1 Stacy & Braun, Toledo
$19,710
Seasongood & Mayer, Cin_ _ _ 20,055 New First Nat. Bank,Colum. 19,700
Spitzer, Rorick & Co., Toledo 19,8081
MOBILE, Ala.-BOND OFFERING.-Proposals will be received until
12 m. Sept. 23 by L. Schwarz, Mayor, for $100,000 5% 30-year coupon
tax-free sewerage-system-extension bonds. Auth. Act Special Session
1909, p. 188-93, also by a vote of 3,296 to 342 at the election held Sept. 2
(V. 95, P. 315). Denom. $1,000. Date Nov. 1 1912. Int. M. & N. at
the American Exchange National Bank, N. Y. Certified check for 1% of
bid, payable to the Board of Commissioners, required. •
MODESTO IRRIGATION DISTRICT, Stanislaus County, Cal.-BOND
ELECTION.-A resolution has been passed, reports state, providing for
an election to vote on the issuance of $610,000 bonds.
MODOC COUNTY (P. 0. Alturas), Cal.-BONDS DEFEATED.
According to early returns, the proposition to issue $60,000 court-house
bonds was defeated at the election held Sept. 3 (V. 95, p. 437).
MONROE COUNTY (P.O. Aberdeen), Miss.-BOND SALE.-On Sept.2
the $100,000 5% coupon road tax-free bonds, due May 1 1936(V.95,p.499),
were awarded to Wm. W. Flournoy of Be Funiak at 100.1345 and int.
Bids at par and int. were received from the First Nat. Bank and the Monroe
Banking & Trust Co., both of Aberdeen.
MONTEBELLA SCHOOL DISTRICT. Los Angeles County, Cal.-BOND
SALE.-On Sept. 10 the $16,000 5% building bonds (V. 95, p. 638) were
aWarded, it Is stated, to Torrance, Marshall & Co.of Los Angeles for $16,326,
making the price 102.037.
MONTGOMERY COUNTY (P. 0. Winona), Miss.-BONDS VOTED.
The question of issuing $40,000 road-impt. bonds carried by a vote of 347
to 15, it is reported, at an election held Sept. 2.
MONTGOMERY COUNTY (P. 0. Dayton), Ohio.-BOND OFFERING.
-Proposals will be received until Oct. 26, it is stated, for $15,000 bridge
bonds. Denom. $1,000.
MOORPARK SCHOOL DISTRICT, Ventura County,Cal.-BOND SALE.
-An issue of $2,500 bldg. bonds was awarded, it is stated, to the Bank of
Ventura at par and int.
MOOSIC SCHOOL DISTRICT (P.0. Moosic), Lackawanna County, Pa.
-BONDS NOT SOLD.-No award was made of $34,000 5% bonds offered
on Aug. 19, we are advised.
MT. CARY, Hancock County, Ohio.-BOND OFFERING.-Proposals
will be received until 12 m. Oct. 15 by E. J. H. Renninger, Vii. Clerk, for
$1,500 5% electric light bonds. Auth. Sec. 3939, Gen. Code. Denom.
$100, Date Sept.3 1912. Int. M. & S. Due $100 Sept. 3 1913 and 1914;
$200 Sept. 3 1915; $100 Sept. 3 1916 and 1917; $200 Sept. 3 1918; $100
Sept. 3 1919 and 1920: $200 Sept.3 1921; $100 Sept. 1 1922 and $200 Sept.3
1923. Cert. check for 10% of bonds bid for, payable to the City Treas.,
required. Bonds to be delivered within 10 days from time of award.
Purchaser to pay accrued interest.
MT. PULASKI SCHOOL DISTRICT. Logan County, 111.-PRICE PAID
FOR BONDS.-The price paid for the $45,000 4 %% bldg. bonds awarded
on Aug. 1 to Scroggin & Son of Mt. Pulaski (V. 05, p. 638) was 100.40 and
not par as at first reported. Denom. $500. Date Aug. 1 1912. Int.
annual In April.
MULBERRY SPECIAL SCHOOL DISTRICT. Crawford County, Ark.BONDS OFFERED BY BANKERS.-The H.C. Speer & Sons Co. of Chic.
is offering to investors $8,000 6% building bonds. Denom. $500. Date
July 1 1912. Int. J. & J. at the Arkansas Valley Trust Co. in Fort Smith.
Due $500 on July 1 in 1914, 1916, 1918, 1920, 1922 and 1924, and $1,000
on July 1 in 1926, 1928, 1930, 1932 and 1934. No other debt. Assessed
valuation. $348,570.
MURRAY CITY, Salt Lake County, Utah.-BOND SALE.-On Sept. 3
the $60,000 10-20-yr. (opt.) municipal-electric-light-plant bonds (V. 95,
p. 500) were awarded to Woodin, MoNear & Moore of Chicago for $60,164
(100.273) and int. for 5s. Bids were also received from S. A. Kean &
Co. at par, Farson, Son & Co., $59,000, and the Harris Trust &Savings
Bank of Chicago, $59,705.
NACOGDOCHES COUNTY COMMON SCHOOL DISTRICT NO. 2, Tex)
-BONDS AWARDED IN PART.-Of the $3,000 5% 5-20-yr. (opt.
bonds, $1,000 of which has been sold (V. 95, p. 500), $1,050 was awarded
on Sept. 10 to the State School Fund at par and int.
NAVARRO COUNTY COMMON SCHOOL DISTRICT NO. 73, Tex.
BONDS AWARDED IN PART.-Of the issue of $6,000 5% 15-40-yr.
(opt.) bldg. bonds, of which $3,000 has already been sold (V.05, p. 252).
$2,000 were sold on Sept. 10 to the State Permanent School Fund at par
and int. Date May 13 1912.
NEWARK. Wayne County, N. Y.-BOND SALE.-We have just been
advised by the Village Treasurer that the $90,000 5% 12-year (average)
sewer bonds offered on March 26 (V.94, p.781) were disposed of on that day.
NEWAYGO. Newaygo County. Mich.-BOND SALE.-On Aug. 30 the
$17,000 5% water-works-system bonds (V. 95, p. 437) were awarded to
W. E. Moss & Co., of Detroit for $17,418 making the price 102.45. Denom.
$1,000.
NEW BEDFORD, Bristol County, Mass.-BOND OFFERING.-Proposals will be received until 7:45 p. m. Sept. 25 by W. S. Cook, City
Treas., for the following 4% reg. tax-free bonds:
$175,000 school bonds. Auth. Chap. 123 Acts of 1911. Due $9,000 yrly.
on Sept. 1 from 1913 to 1927 incl. and $8,000 yrly. on Sept. 1
from 1928 to 1932 incl.
100,000 sewer bonds. Auth. Chap. 474 Acts of 1910. Due $4,000 yrly.
on Sept. 1 from 1913 to 1922 incl. and $3,000 yrly. on Sept. 1
from 1923 to 1942 incl.
50,000 municipal-loan No. 6 bonds. Auth. by order of City Council
Sept. 13 1912. Due *5,000 yriy. oh Sept. 1 from 1913 to 1922
inclusive.
Denom. $1,000 or any multiple thereof. Date Sept. 1 1912. Int.
M. & S. by mailed check. Legal opinion by Storey, Thornkdike, Palmer &
Dodge of Boston. Cert. check on a national bank or trust company for 2%
of bonds bid for, payable to the City, required.
NEW HOPE IRRIGATION DISTRICT, Utah.-BONDS AWARDED
IN PART.-On Sept. 10 $20,000 of the $40,000 6% coup. bonds (V. 95, p.
582, were awarded to the State Board of Land Commissioners at 95. Int.
J. & D.
YET TANEW LONDON, New London County, Conn.-NO ACTION
KEN.
-We are advised by the City Treasurer that no action has yet been
bonds
(V.
95,
park
p.437).
$50,000
taken looking toward the issuance of the
received
r eyE
e
Ab
S
v9
T4,Ap.
xu
E
nN
.
t11
NEWPORT, R. 1.-NOTE OFFERING.-Proposals2will
yr.
beach
-notes. A
5 p.m. Sept. 26 by the City Treas. for the $20,000 4%
oA
May
Va.N
1400
similar issue of notes was offered but not sold_onM
16 I0
C7;
NEWPORT NEWS, Warwick County.
-No action has yet been taken looking towards the issuance of the $250,000
harbor and pier constr. bonds voted July 25 (V.95, p. 315).
NORFOLK. Va.-BONDS AWARDED IN PART.-On Sept. 12 $268,000 of the five issues of 4;i% 30-yr. coup. (with priv. of reg.) bonds, aggregating $835,000 (V. 95, p. 252) were awarded as follows:
$10,000 to the First Nat. Bank of Elizabeth City at 100.25.
8,000 to the Sinking Fund Commissioners at par.
260,000 to Harris, Forbes & Co. of N. Y. at 97.584.
Harris, Forbes & Co. of New York were given an option on the remaining
*557,000 at 97.584.
NORFOLK COUNTY. Mass.-LOAN OFFERING.-Dispatches state
that the County Commissioners will receive bids at Dedham until 10 a. m.
Sept. 24 for the discount of a loan tot $50,000 dated Sept. 26 1912 and
due March 26 1913.
NORTH PLAINFIELD SCHOOL DISTRICT (P. 0. Plainfield), Union
County, N. J.-BOND SALE.-On Aug. 26 the $18,000 434% 11 s-yr.
(ay.) school bonds (V. 95, p. 437) were awarded to the Plainfield Sav.Bank
in Plainfield.
NORTH ST. PAUL, Ramsey County, Minn.-BONDS VOTED.-An
election held Aug 30 resulted in favor of the proposition to issue $8,000 4%
electric-light-plant-impt. bonds. The vote was 114 to 60. Due In 1919.
SEPT, 21 1912.]
THE CHRONICLE
771
Sept. 17 the 4 issues of notes.
ROCHESTER, N. Y.-NOTE.ISALE.-Onawarded
Conn.-BONDS PROPOSED.-Lo"
as follows:
95, p. 704), were
NORWICH, New London County,
g the issuance of *325,000 25- aggregating $464,000 (V.
contemplatin
& Chapman of N. Y. at
is
city
Chisholm
this
to
notes
that
state
impt.
papers
cal
*100,000 water-worksyr. water bonds.
100.005 for 5.25s.
- 200,000 local-impt.
DISTRICT NO. 7, Tex.
notes to Daniel A. Moran do Co. of N. Y. as 5s.
NUECES COUNTY COMMON SCHOOL
State School Fund was awarded at
150,000 local impt. notes
BONDS AWARDED IN PART.-Theissue
for
(opt.)
of $10,000 5% 10-40-yr.
10,000 local-impt. notes To H. Lee Anstey of N. Y. for $164,006
par and int. on Sept. 10 $2,500 of an
95, p. 500).
5. 70s.
4,000 voting-mach.notesj
bonds, $2,500 of which has already been sold (V.
&
Bond
from
received
also
was
5.70s
A bid for all issues of $464,008 for
J.-BOND OFFERING.-Proposals will Goodwin of New York. •
NUTLEY, Essex County. N. by
Clerk, for $30,000
Town
Kirkeby,
S.
A.
23
Sept.
p.m.
8
until
be received
S TO BE OFFERED
or reg. general funding bonds.
ROWLESBURG, Preston County. W. Va.-BOND
20-year and $12,000 10-yr. 434% coup.
ann. Cert. check for 5% SHORTLY.-We are advised that the $9,000 water and $2,000 sewerage
Denom. $1,000. Date Oct. 1 1912. Int. semi
will soon be offered for sale.
253)
p.
95,
(V.
6
5%
July
voted
bonds
required.
OFFERING.-Proposals
-BONDS
OAKLAND, Alameda County. Cal.-BOND
RUSK COUNTY COMMON SCHOOL DISTRICTS, Tex. the folcity-hall bonds.
will be received until Oct. 1, it is stated, for $771,350
REGISTERED AND SOLD.-The State Comptroller registered
Mo.- lowing 5% 10-20-yr. (opt.) bldg. bonds on Sept. 10: $5,000 bonds of Dist.
County,
Lafayette
Odessa),
0.
(P.
DISTRICT
ODESSA SCHOOL
Wm. R. Compton Co. of No. 16, $1,000 bonds of Dist. No. 17, $800 bonds of Dist. No. 34 and 2500
BONDS OFFERED BY BANKERS.-The
boads. Denom. $500. bonds of Dist. No. 60.
St. Louis Is offering to investors $25,000 5% school
July 1 1922 and $1,500
$10,000
Due
&
J.
J.
The State Permanent School Fund purchased the last three issues menInt.
1912.
Date July 1
tioned above, and an issue of $500 of Dist. No. 15, at par and int. on the
yearly on July 1 1923 to 1932, inclusive.
bonds
day (Sept. 10). The bonds are dated Sept. 6 1912.
• • • 14
same
water
$7,000
that
ONEIDA. N. Y.-BOND SALE.-It is reported
have been sold at par.
ST. GEORGE. Dorchester County, So. Car.-BOND SALE.-On Aug.22
elec95,
p. 253)
(V.
-An
bonds
$18,000 5% 20-40-yr. (opt.) water-works-system
OTTAWA COUNTY (P.O. Miami),Okla.--BOND ELECTION.
issue the
were awarded to Spitzer, Rorick & Co. of Toledo at par, less $900 for exp.
tion will he held Sept. 28 to submit to the voters the proposition to
bonds.
*100,000 5% 25-yr. bridge repair and purchasing
SANDUSKY. Erie County, Ohio.-BOND ELECTION.-According to
sold an
OZARK, Dale County, Ala.-BOND SALE.-Thls city recently J. B. reports the voters will vote on the proposition to issue $175,000 lightingissue of $15,000 sewerage-system-constr. bonds, it Is stated, to the
plant bonds at the November election.
McCarey Co. of Atlanta.
SALE.
SAN PATRICIO COUNTY COMMON SCHOOL DISTRICT NO.6,Tex.
PALM BEACH COUNTY (P.0.West Palm Beach), Fla.-BOND (V.95,
BONDS AWARDED IN PART.-Of the $10,000 5% 10-40-yr.p.(opt.)
-On Sept. 10 the two issues of 5% road bonds aggregating *145,000
95,
(V.
102.50
27
639).
Aug.
on
at
by
Comptroller
the
State
bldg. bonds registered
P• 583) were awarded to the Bankers Trust Co. of Jacksonville and the $2,500
were awarded on Sept. 10 to the State Permanent School Fund at
and int. Bids were also received from Well, Roth & Co. of ("Inc.
par and int. The bonas are dated June 15 1912.
First Nat. Bank of Columbus.
Commerce Trust
COUNTY (P.O. San Saba). Tex.-BONDS DEFEATED.
PARIS, Lamar County, Texas.-BOND SALE.-The have purchased AnSAN SARA
election held Sept. 14 resulted in the defeat of the proposition to issue
Co. of Kansas City and Mayer, Deppe & Walter of Cin.street-impt.
5% $448,967 irrigation bonds.
$50,000
and
public-bldg.
$25,000
sewer,
*15,000
jointly
1912. Int.
SCOTT COUNTY DRAINAGE DISTBICT NO. 10, Mo.-BOND OFFER10-50-year (opt.) bonds. Denom. $1,000. Date Aug. 10
ING.-A. L. Drury, County Treas. (P. 0. Benton), will offer at public
F. & A. in N.Y.
received
be
auction on Oct. 9 $76,000 6% bonds. DenOm. $500. Date Sept. 4 1912.
PASADENA. Cal.-BONDS RE-OFFERED.-Proposals will
pur- Int. M. & S. Due on Sept. 4 as follows: $7,500 in 1914, $3,500 in 1915,
it is stated, until 10 a. m. Oct. 1 for the $1,250,000 434% water-plant
27.
Aug.
on
sold
In 1916 and 1917, $3,500 in 1918, $4.000 in 1919. $3,500 in 1920,
of
but
$4,000
not
was
offered
issue
bonds
chase bonds. A similar
1925.
$4,000 in 1921 and 1922, $3,500 in 1923, $4,000 in 1924, $3,500 In
See V. 95, p. 838.
in 1926 and 1927, $3,500 in 1928, $4,000 in 1929, $3,500 in 1930
$4,000
-Proposals
L
PELHAM. Westchester County, N. Y.-BOND OFFERING. Clerk, for and $4,000 in 1931 and 1932.
will be received until 8 p. m.Sept. 25 by L. M.Simonson, Village
MinaSCOTTS BLUFFS COUNTY SCHOOL DISTRICT NO. 2 (P. 0. Oct.
$6,000 reg. Third St. pay, bonds at not exceeding 5% int. Denom. $500.
1
until
to
received
1917
be
will
tare). Neb.-BOND OFFERING.-Proposals
Date Oct. 1 1912, Int. A. & 0. Due $500 yearly on Oct. 1 from
coupon building
1928, incl. Bonds will be certified as to genuineness by the Columbia- by the Secretary of the School Board for $8,000 534%
Nebraska
the
at
Jan.
incorporated
In
Int.
1912.
7
Sept.
Date
Denom.
an
$2,000.
bonds.
Knickerbocker Trust Co., N. Y. City. Certified check on
1 from 1924
State or national bank of this State for $500, payable unconditionally to fiscal agency in New York City. Due $2,000 yearly on Jan.
to 1927, incl. Cert. check for $100, payable to the Sec. of School Board,
the "Village of Pelham," required. Bonds to be delivered Oct. 10. •
debt.
floating
No
$9,000.
issue,
this
debt,
!minding
- required. Bonded
-BOND ELECTION PROPOSED.
PHELPS, Ontario County, N. Y,
valuation, $104,975.
The proposition to issue $12,000 town hall bonds will be submitted to the Assessed
the
17
Sept.
SEVILLE. Medina County, Ohlo.-BOND SALE.-On
voters, according to reports. Denom. $1,000. Int. annual.
election $1,180 74 5% 6-yr. (aver.) Center St.-impt. assess. bonds (V. 95, p. 639)
PHILMONT, Columbia County, N. Y.-BONDS VOTED.-An electric- were awarded to the Bank of Seville at par and int. No other bids were
held Aug. 20 resulted in favor of the proposition to Issue $5,000
received.
light bonds. The vote was 63 to 1.
Shelby County, Mo.
will
SHELBINA SCHOOL DISTRICT.(P. 0. Shelbina),
PIPER CITY, Ford County, III.-BOND OFFERING.-Proposals
OFFERED BY BANKERS.-The Wm. R. Compton Co. of
-BONDS
$10,he received until 7:30 p. m.Sept. 27 by N. G. Plank, Village Clerk, for
$3,000 refunding
and
building
$22,000
investors
to
In- St. Louis is offering
Due $3,001
000 5% coupon water bonds. Denom. $1.000. Date Sept. 1 1912.
as 5% bonds. Denom. $500. Date July 1 1912. Int. J. & J.
to 1916, incl.;
1914
1
terest annually in July at Treasurer's Office or at any bank in Illinois,
July
ann.
$1,000
opt.
11917.
July
bonds
refunding
to 1923,
to 1923,
1917
yearly
$1,000
follows:
as
1
purchaser may desire. Due $1,000 yearly on July 1 from 1914
Chicago. $22.000 building bonds on July
Incl. Legality of bonds has been approved by Wood & Oakley ofcompany
incl., $2,000 In 1924, $1,000 in 1925 and 1926, $2,000 in 1927, $1,000 In
1932.
in
and
$3,000
An unconditional certified check on an incorporated bank or trust
in
1931
$1,000
1930,
and
1929
in
1928, $2,000
for $200, payable to the City Treasurer, required.
SALE.-On Sept. 15
will be received
SHERMAN. Grayson County. Texas.-BOND (V.
PITTSBURGH. Pa.-BOND OFFERING.-Proposals
95, p. 639), were
43%
$87,000
for
the
four ssues of 5% bonds, aggregating $198,000
Cont.,
City
S.
Morrow,
until 3 p. m. Sept. 24 by E.
Chicago for $199,315
of
Bank
Int.
Savings
&
Trust
$100.
Harris
the
coupon or registered park tax-free bonds. Denom. $1,000 and yearly on awarded to
Other bids follow:
J. & D. at Pittsburgh Trust Co., Pittsburgh. Due $3,000 approved (100.666) and interest.
•$200,3001A. B. Leach do Co., Chlo___$198,271
Commerce Trust Co
Dec. 1 from 1912 to 1940, Incl. Legality of the bonds has been
on a Well, Roth & Co., Chic
•199,475'Cook, Holtz & Co., Chic_ 198,221
by Hawkins, Delafleld do Longfellow of N. Y. City. Cert. check
Treasurer,
City
the
to
payable
for,
bid
bonds
of
for
2%
bank
national
Comptroller.
with proposals.
in
conformity
not
City
Bids
the
•
by
required. Special blanks for bids will be furnished
-BOND SALE.-On Sept.
County, Ore.-BOND SALE.-On Aug. 14-the
Marion
,
SILVERTON
PORTAGE COUNTY (P. 0. Ravenna), Ohio.
the
to
awarded
(ser.) rock crusher-impt. bonds (V. 95, p. 376) were
16 tile $15,000 4% road-impt. bonds (V. 95, p. 500) wereand
int. Other $4,000 6% 1-4-yr.
awarded to local investors at par.
Second Nat. Bank of Ravenna for $15.075 05 (100.5003)
bids follow:
Minn.-BOND
$15,00
SMOKY HOLLOW (P. 0. Shovel Lake), Cass County,
Ravenna Nat. Bk. Rav__$15,048 80 Otis & Co. Cleveland
Long15,005 OFFERING.
-Proposals will be received until 2 p. m. Oct. 5 by F.bonds.
New First Nat. Bk., Col__ 15,019 00 Stacy & Braun, Toledo
bridge-bldg.
and
road
head, Town Clerk, for $8,000 6% 15-yr.
Well, Roth & Co.. Mein_ 15.011 00
for $100, payable to the
check
Cert.
semi-ann.
19
Int.
Aug.
$1,000.
Denom.
-On
SALE.
his own form
PORT ARTHUR, Jefferson County, Tex.-BOND
rejected Board of Supervisors, required. Purchaser is to furnishwithout
success
the $490,000 5% bonds, bids for which were received recently but Denom.
of bonds. These bonds were previously offered as 5s
(V. 95, p. 500), were awarded to Chas. G. Gates at par and Int.
501.
p.
V.
95,
See
$1,000. Date July 20 1912. Int. J. do J.
County,
SALE.-On
SOUTH HAVEN TOWNSHIP (P. 0. South Haven). Van Buren
PORT CHESTER, Westchester County. N. Y.-BOND
14 the issuance of
Sept. 19 the $16,000 4 li% 2-17-year (ser.) No. Regent St. impt. bonds Mich.-BONDS VOTED.-At an election held Sept.by a vote of 77 to 58.
102.086
authorized
was
bonds
at
Y.
stone-road
N.
-year
of
1-25
Co.
5%
de
$2,500
Grant
M.
(V. 95, p. 704) s,ere awarded to'.
and interest. Other bids follow:
impt.
SPOKANE. Wash.-BOND SALES.-The following 6% special
Port Chester Savings Bank _101.91 Douglas Fenwick & Co.,
have bees
.__101.43
assess, bonds due in 10 yrs., opt, at any interest-paying period,
New York
Watson do Pressprich, N. Y __101.58
city.
this
disposed of by
Adams & Co., New York _ _101.45 Harris, Forbes do Co., N. Y ..100.682
in July:
Ten issues, aggregating $103,084, disposed ofPurpose.
_-the result of the offering at the same time of
We are not advised as to
Date.
And.
Date.
Amt.. Purpose.
he $8,771 83 certificates (V. 95, p. 704).
St. paving_ July 112
Howard
$6,800
12
.
_July15
_
for the $10,680 Astor St. grade_
July 1'12
1,418 Normandie St
PORTLAND, Ore.-BIDS.-The following bids were received
'12
grade_July15
St.
Conklin
3,070
638):
(V.
95,
p.
Av. grade_July15'12
$323,680 16 6% 10-yr. impt. bonds disposed of on Aug. 26 Amt.
15,140 First Ward sewer_ _July 1'12 7,180 OlympicSt.
Price.
BidderAmt.
Price.
grade_ _July15'12
Bidder15,271 Glass Ave. grade_ _July15'12 11,975 Stevens Av.grade_July15'12
{$100,000 102.50
Thirtieth
1,550
Scour.Sav. & Tr.Co.$100,000 102.75
1'12
_July
grade__
St.
Hatch
30,000
50,000 102.25
1,500 102.75 Henry Teal
August:
in
of
John Murphy
disposed
$70,482,
Ten issues, aggregating
50,000 102
15,000 102.60
W.P. White
Aug.15'12 $7,750 La Crosse Av.grade Aug.15 12
$1,879 Alley sewer
.1,500 102
Leo Peterson
Dexter Horton Nat.
10,779 Altamont St.gradcAug.15'12 10,088 Post St. grade
12
12
5:
Aug:15
323,680 102.52
Bank, Seattle_ _
3,000 Eighth Ave. pav_ _Aug.15'12 6,600 17th Ave. sewer_ Aug.15•12
S VOTED.-At the election
9,445 First Ward sewer_Aug.15'12 7,874 7th Ave. paving Aug. 1'12
PULASKI. Pulaski County, Va.-BOND
bonds
grade
Ave.
sewerage-system
38th
$50,000
8,090
issue
to
_Aug.15'12
grade_
proposition
St.
5,177
Greene
held Sept. 11 the
to 71.
OFFERED
(V. 95, p. 375) carried. The vote, it is stated, was 219
STERLING. Whiteside County. 111.-BONDS TO BE
SALF.7.-On Sept. 12 SHORTLY.-We are advised that the $25,000 hospital bonds voted Aug.6
PUTNAM COUNTY (P.O. Ottawa). Ohio.-BOND
500), were (V. 95, p. 376) may possibly be offered for sale about Oct. 7.
the four Issues of 5% bonds, aggregating $35,000 (V. 95, p.making
the
awarded to Hayden, Miller do Co. of Cleveland for $37,130,
0.
SULPHUR BLUFF INDEPENDENT SCHOOL DISTRICT (P. the
price 106.085. Other bids follow:
Bank &
Sulphur Bluff), Hopkins County, Tex.-BOND SALE.-On Sept. 10
Scasongood & Mayer, Cin..$37,005 50IProvident Say.
building bonds
(opt.)
10-20-year
5%
$3,850
40
of
an
issue
of
436,825
$1,540
Cincinnati_
Co.,
remaining
Trust
68l
Stacy & Braun, Toledo_ 36,981 00i
School Fund at par
New First Nat. Bk., Col__ 36,978 00 Weil, Roth & Co.. Cincin_ 36,805 25 (V. 95, p. 501) were purchased by the State Permanent
First Nat. Bank, Cleveland 36,790 30 and Int.
Otis & Co., Cleveland_ _ _ _ 36,925
Cal.
RAPID CITY SCHOOL DISTRICT (P. 0. Rapid City), Pennington
SUNNYBROOK SCHOOL DISTRICT, Santa Clara County.
County, So. Dak.-BOND OFFERING.-Proposals will be received at once BOND OFFERING.-Proposals will be received until 11 a. m. Oct. 7 for
for the $60,000 5% floating-debt refund. bonds voted Sept. 10 (V. 95, p. $2,500 bonds, according to reports.
639). Auth. vote of 108 to 53. Due Oct. 11932, opt. 5 yrs. from date.
0. Sunbury), Delaware
SUNBURY VILLAGE SCHOOL DISTRICT (P.will
RAWLINS. Carbon County, Wyo.-BOND SALE.-On Sept. 10 the
be received until 1
-Proposals
$30,000 5% 5-30-year (opt.) coup. water-works-constr. bonds (V. 95, p. County, Ohio.-BOND OFFERING.
Ed., for $1,150 434% impt. bonds.
of
Bd.
Pres.
Patrick,
N.
by
5
Oct.
m.
p.
$30,326
for
Denver
of
Co.
563) were awarded, It Is stated, to W.E. Sweet &
Date Oct. 1 1912.
$230.
Denom.
Code.
School
Auth. Sec. 7629, New
(101.0866) and blank bonds.
on Oct. 1 from 1914
J. & D.at office of District Treas. Due $230 yriy.
REDFIELD, Spink County. So. Dak.-BOND OFFERING.-Proposals Int.
Delaware County bank (or cash) for $100,
a
on
check
Cert.
incl.
1918
to
will he received until 8 p. m. Oct. 7 for $9,000 5% sewer bonds. Authority payable to the Clerk of the Bd. of Ed., required. Bonds to be delivered
vote of 218 to 19 at an election held Aug. 12. Due Oct. 1 1932.
within 5 days from time of award.
RICHLAND CENTER, Richland County, Wis.-BONDS OFFERED
SOLD.
SUTHERLIN. Douglas County, Ore.-BONDS VOTED AND
H. C. Speer & sons Co. of Chicago Is offering to
BY BANKERS.-The I
in favor of the proposition to issue the
investors $15,000 434% city-hall tax-free bonds. Denom.$1,000 and *500. An election held Aug. 26 resulted
ar (opt.) water-works-system construction bonds
Date Feb. 11912. Int. F. & A. at the First Nat. Bank of Chicago. Due $30,000 6% 10-20-ye
Issue. We
(V. 95, p. 639). There were 50 votes cast, all in favor of theof.
$1,500 yearly Feb. 1 1921 to 1930, Inclusive.
•
are advised that these securities have already been disposed
•
RICHMOND, Fort Bend County, Tex.-BONDS VOTED.-The propostated
is
it
bridge Impt, bonds carried,
COUNTY SCHOOL DISTRICT NO. 45.(P.0. Ryegate).
GRASS
sition to issue the $8,000 street and p.
SWEET
28
at the election held Sept. 11 (V.95, 039).
Mont.-BOND OFFERING.-Proposals will be received until Sept.
- by J. O'Toole, Clerk for $1,000 6% coup. school-bldg. bonds. Denom.
RIDGEFIELD TOWNSHIP. Huron County. Ohio.-BOND SALE.
cheek for $50, payable to the
On Sept. 16 the $10,000 5% coup. Ridgefield Road DLit. In:int. bonds(V.95, $1,000. Due In 10 yrs. opt. In 5 yrs. Cert.
107.09
at
Columbus
Clerk, required. No other debt. Assess. val. 1912, $38,210.
P. 704) were awarded to the New First Nat. Bank of
and interest. Other bids follow:
SWEETWATER. Nolan County, Tex.-BONDS REGISTERED.-The
50 Hayden, Miller & Co..Cley$10,410 00
Stacy & Braun. Toledo_ _ _$10,688 151
on Sept. 9 the $25,000 5% 20-40-year sewer
Otis & Co., Cleveland_ _ _ 10,655 00 Weil, Roth & Co., Cino_ _ 10,012 50 State Comptroller registered
bonds.
Spitzer, Reriek & Co., Tol. 10,503
772
THE CHRONICLE
[VOL. r,xxxxv.
NrrETON COUNTY (P.'70.11Choteau). Mont.-BOND ELECTION.-At
the November election the voters will decide on the issuance of $100,000
highway and bridge bonds, according to reports.
Bank of Waynesboro in Waynesboro at 104.0125 and Int. Bias were also
received from E. V. Kane & Co., J. S. & W.S. Kuhn, Inc., N. W.Halsey
do
Co. of Philadelphia, Otis & Co. of Cleveland, the People's National Bank
TETON
SCHOOL DISTRICT NO. 30, Mont.-BOND OFFER- and the Citizens' National Bank of Waynesboro.
ING.-Proposals will be received until 2 p. m. Oct. 5 by C. E. Hinman
WEBB COUNTY (P. 0. Laredo). Texas.-BOND ELECTION PRO(P. 0. Power), Dist. Clerk, for $3,000 6% coup. school-bldg. bonds. POSED.
-Petitions are being circulated asking for an election to vote on
Auth. election held Aug. 5. Denom. $1,000. Date Oct. 5 1912. Int. the issuance of $150,000
road bonds, it is stated.
annual. Due Oct. 5 1927. optional Oct. 5 1922. Cert. check for $100
WEBSTER. Monroe County. N. Y.-BOND SALE.-The Village Treas.
required.
us that the $6,500 bonds offend on April 4 (V. 94, p. 723) have
TOLEDO. Ohio.-BOND OFFERING.-Further details are at hand advises
relative to the offering on Oct. 16 of the $165,000 4% coupon street-impt. been sold.
WELLINGTON, Lorain County, Ohio.-BOND SALE.-On Sept. 17
bonds. (V. 95, p. 704). Proposals will be received until 7:30 p. m. on that
day by J. J. Lynch, City Auditor. Denom. $1,000. Date Sept. 1 1912. the three issues of 5% assessment bonds, aggregating $19,840 (V. 95,
p. 501), were awarded to Otis & Co. of Cleveland for $20,530, making the
Int. M. & S. at the U.S. Mtge. & Trust Co. InN. Y. Due $65,000 Sept .1
proce 104.53, according to reports.
1925 and $100,000 Sept. 1 1926. Cert. check on a national bank for 5%
of bonds bid for, payable to the City Auditor, required. Purchaser to pay
WEST CHESTER SCHOOL DISTRICT (P. 0. West Chester), Washingaccrued interest.
ton County. Iowa,-BONDS VOTED.-An election held recently resulted
BOND ELECTION.-The question of Issuing $750,000 park and boule- in favor of the propoittion to issue the $12,000 bldg. bonds (V.
95, p. 376).
vard-impt. bonds will be submitted to a vote, it is stated, at the November We are advised, however, that no further action
will be taken until next yr.
election.
WEST SPRINGFIELD, Hampden County, Mass.-BOND SALE.-TOLEDO SCHOOL DISTRICT (P. 0. Toledo), Lucas County, Ohio.- On Sept. 18 $40,000 4% 1-20-year (serial) coupon school bonds were
BOND OFFERING.-Proposals will be received until 1:30 p.m. Oct. 9 awarded to E. H.Rollins & Sons of Boston
at 100.888, it is stated. Denom
by Lillie I. Donat, Clerk B d. of Ed., for $400,000 4% bldg. bonds.
' Auth. $1,000. Date Aug. 1 1912. Int. F. & A. at the Old Colony Trust Co. In
Secs. 7629, 7630, 7626 and 7627, Gen. Code. Denom. $1,000. Int. semi- Boston.
annual. Due $40,000 yrly. from 27 to 36 yrs., incl. Cert. check for
Other bids follow:
41.000 required.
Blake Bros. & Co., Boston_ _ _100.211Blodget & Co., Boston
,
100.09
TOM GREEN COUNTY (P. 0. San Angelo), Tex.-BOND SALE.-On N.W.Harris & Co.,Inc.,Bos_ _ _100.16
Sept. 10 the $70,000 5% 10-40-yr. (opt.) bridge constr. bonds (V. 95, p.
WHEATON SCHOOL
NO. 32 (P. 0. Wheaton), Traverse
639) were awarded to Terry. Briggs do Slayton of Toledo at 101.18, int. and County, Minn.-BONDS DISTRICT
VOTED.-At an election held Sept. 7 the voters
blank bonds. Other bids follow:
authorized the issuance of $6,000 4% heating bonds. The vote was 13 to 0.
A.J. Hood & Co., Detroit $70,707 50 Cutter, May & Co., Chic_ __•$70,350
WILLIAMSON
COMMON SCHOOL DISTRICT NO.75, Tex.
COUNTY
Chapman, Mills & Co., Ch..70,575 00 Com'ce Tr. Co., Kan. City__
70,000
John Nuveen de Co. Chic '70,357 50 R.J. Edwards, Okla. City__ 70,000 BONDS AWARDED IN PART.-The State Permanent School Fund purchased $2,000 5% 10-20-year (opt.) building bonds on Sept. 10 at par and
'And blank bonds.
Int. These bonds are part of an issue of $8,000, $2,000 of which has already
Bids from the following were received too late for consideration:
been sold (V. 95, p. 253).
Alierton, Green & King, Chicago.
N. W. Halsey & Co., Chicago.
City Loan & Trust Co., Gainesville. Seasongood & Mayer, Cincinnati.
WILLOW-GLEN SCHOOL DISTRICT, Santa Clara County. Cal.BOND OFFERING.-Proposals will be received until 11 a. m. Oct. 7 for
H. C. Speer & Sons Co., Chicago. Well, Roth & Co., Cincinnati.
Hoehler & Cummings, Toledo.
Woodin, McNear & Moore, Chicago. the $6,500 school bonds offered without success on Aug. 5(V. 95, p.
TROY, N. V.-CERTIFICATE SALE.-On Sept. 13 the $100,000 5% reports state.
tax-exempt certificates of indebtedness due Nov. 13 1912 (V. 95, p. 639)
WILKES-BARRE. Luzern° County, Pa.-BOND OFFERING.--Prowere awarded to Kountze Bros. of N. Y.at 100.02 and int. Other bids:
posals will be received until 2 p. m. Oct. 3 by F. H. Gates, City Clerk, for
Troy Say. Bank, Troy
$100,017 Manufacturers' National
$75,000 of an issue of $350,000 434% reg. impt. bonds. Denom. $1,000.
Albany Say. Bank, Albany_ 100,0161 Bank, Troy
$100,000 Date Oct. 1 1912. Int. A. & 0. at office of City Treas. Due $30,000
Oct. 1 1917; $10,000 yearly on Oct. 1 from 1918 to 1921 incl., and $5,000
'UPSHUR
Gilmer). Texas.-BOND SALE.-We are Oct. 1 1922. Bonds will be certified as
to genuineness by the Columbiaadvised that the $49,000 6% road bonds were purchased by Duke M. Farson Knickerbocker Trust Co., N.
Y. City. Legality of the issue has been
Chicago
of
and re-sold by him to Parson, Son & Co. of Chicago, as reported approved by Townsend, Elliott ec Townsend
of Philadelphia. Official
in last week's "Chronicle."
circular states that the city has never defaulted in the payment of principal
or interest and that there is no controversy or litigation pending or threatUPSHUR COUNTY COMMON SCHOOL DISTRICT NO. 2, Texas.- ening
the corporate existence, of the boundaries of the city, or to the title
BONDS REGISTERED AND SOLD.-On Sept. 10 an issue of $2,000 5%
5-20-year (opt.) building bonds dated July 10 1912 was registered by the of any of its present officials to their respective offices, or the validity of
bonds or any other previous issue of outstanding bonds. Cert. check
State Comptroller. These bonds were purchased at par and int, on the these national
on a
bank for 2% of bonds bid for, payable
the City Treas..
same day by the State Permanent School Fund.
required. Bonds to be delivered and paid for Oct. 15.toPurchaser
to pay
UTICA, N. Y.-BOND OFFERING.-Proposals will be received until accrued Int. Bids to be made on blank forms furnished by the city.
11 a.m. Sept. 28 by Fred G. Reusswig. City Comptroller, for the followWILMERDING, Allegheny County, Pa.-BONDS PROPOSED.-Reing 4l1% reg. public impt. bonds (V. 95, p. 705):
perts state that on Sept. 12 the issuance of $25,000 street impt. bonds was
;12,000 automobile fire apparatus bonds. Date Aug. 1 1912. Due $600 ordered by the Boro Council.
yrly. from 1913 to 1932, incl.
Starke County, Ohio.-BOND OFFERING.-Proposals will
20,000 sewer bonds. Date Sept. 1 1912. Due $1,000 yrly. from 1913 beWILMOT,
received until 12 m. Oct. 7 by Jas. Crise, Village Clerk, for $1,500 8%
to 1932, incl.
street-impt.
bonds.
Denom. $300. Date Aug. 16 1912. Due $300 yearly
10,000 playground bonds. Date Sept. 1 1912. Due $500 yrly. from 1913
on Aug. 16 from 1915 to 1919, incl. Purchaser to pay accrued interest.
to 1932, incl.
WINTHROP. Suffolk County, Mass.-TEMPORARY LOAN.-On
10,000 bath-house bonds. Date Sept. 1 1912. Due $500 yrly. from
Sept. 16 a loan of $25,000, due April 2 1913, was awarded, It Is stated, to
1913 to 1932, incl.
7,200 Ballou Creek culvert ext. bonds. Date Sept. 1, 1912. Due $600 the First Ward National Bank at 4.75% discount and $1 premium.
yrly. from 1913 to 1924, incl.
WOOD COUNTY COMMON SCHOOL DISTRICT NO.24, Tex.-BONDS
Each Issue will be sold separately. Int. semi-ann. Cert. check for 2% AWARDED IN PART.
-On Sept. 10 $500 5% 10-40-year (opt.) building
of bonds bld for, payable to the "City of Utica," required.
bonds were purchased by the State Permanent School Fund at par and int.
These
bonds
are
part
of
an
issue of $5,500, *2,500 of which has already been
VENICE. Los Angeles County, Cal.-BOND ELECTION.-This city is
considering holding an election to vote on the issuance of $75,000 flre-impt. disposed of (V. 95, p. 253).
bonds, reports state.
WOODLAND. Cowlitz County, Wash.-BOND OFFERING.-Proposals
will be received until 12 m. Sept. 23 by L. G. McConnell, Town Treasurer,
VENTNOR CITY (P. 0. Atlantic City). Atlantic County, N. J.-BOND it is stated, for $10,500 water bonds.
Cert. Cheek for 2% required.
SALE.-On Sept. 18 the $10,000 5% 30-year sewer and water-extension
YAKIMA COUNTY SCHOOL DISTRICT NO 97, Wash.-BOND SALE.
bonds (V. 95, p. 705) were awarded to Douglas Fenwick & Co. of N. Y.
Sept.
14
-On
the
$1,100
coup. bonds (V. 95, p. 640) were awarded to the
at 101.99-a basis of about 4 ii%. Other bids follow:
State of Washington at par for
(opt.) 534s. A bid of par and blank
Guarantee Trust Co., Atlantic City
$10,068 00 bonds for 6% 5-10-yr. (opt.) 1-10-yr.
securities was also received from Wm. D.
Ventnor City National Bank, Ventnor City
10,062 50 Perkins & Co. of Seattle.
Geo. A. Bourgeois, Ventnor City
10,056 25
Wm. C. Carman, Ventnor City
YALE, St. Clair County, Mich.-BOND SALE.-On Sept. 16 the $10,000
10,050 00
4 34% 15-yr. coup. water-works-ext. bonds (V. 95, p. 705) were awarded
VERNON, Wilbarger County, Tex.-BONDS REGISTERED AND to Bolger, Mosser & Willaman of Chicago
100.50 and int. Other bids:
SOLD.-The State Comptroller registered on Sept. 10 $1,960 5% 10-40-year W.E. Moss & Co., Detroit_ _ _$10,0131A. at
J. Hood & Co., Detroit_ _$10,006
(opt.) school-building improvement bonds, dated Aug. 1 1912.
Men & Co., Chicago
10,013 Spitzer, Rorick & Co., ToL_ 9,900
These bonds were purchased by the.State Permanent School Fund at par
YERINOTON, Lyon County, Nev.-BONDS OFFERED BY BANKERS.
and interest on the same day.
-then & Co., of Chicago, are offering to investors $26,000 8% sewer bonds.
WARREN COUNTY (P. 0. Vicksburg), Miss.-BOND OFFERING.
- Denom. $1,000. Date July 1 1912. Int. J. & J. at the National Bank,
Proposals will be received until 12 m. Oct. 7 by J. D. Laughlin, County of Commerce, N. Y. Due $13,000 July 1 1927, optional July 1 1922,
Clerk, for $50,000 5% bridge and road bonds. Auth. Sec. 331, Code of and $13,000 July 1 1942, optional July 1 1932.
1906. Date Oct. 7 1912. Cert. check on a local bank or any national bank
for $500, payable to the County Clerk, required.
COUNTY
COUNTY (P. 0.
WATERVILLE, Kennebec County, Me.-BOND SALE.-On Sept 16
the $20,000 4% 20-yr. coup. funding bonds (V. 95, p. 705) were awarded
to Adams & Co. of Boston at 102.51-a basis of about 3.82%, it is stated.
WATERVILLE. Lucas County, Ohio.-BOND SALE.-On Sept. 16
Canada, its Provinces and Municipalities.
AURORA. Ont.-LOAN VOTED.-The ratepayers recently passed a
by-law, it Is stated, providing for a loan of *15,000 as a bonus to the CollieCockerill Co.
the $9,327 80 5% coupon street-impt. bonds (V. 95, p. 501) were awarded
BIGGER. Sask.-DEBENTURE SALE.-H. O'Hara & Co. of Toronto
to Spitzer, Rorick & Co. of Toledo for $9,597 37 (102.88) and int. Other
have been awarded, it is stated, an issue of $18,000 534% debentures.
bids follow:
Premium.
Premium.
BLADWORTH. Sask.-DEBENTURE SALE.-During August $500
Otis & Co., Cleveland
.$310 00 Waterville State Say. Bank,
6% 5-year debentures were awarded to Nay & James of Regina. Date
Hayden, Miller & Co., Cleve_•290 00
Co
.$275 00
New First Nat. Bank, Colum.•282 00 Well, Roth & Co., Cincinnati 46 75 Aug. 30 1912.
CALGARY, Alta.-DEBENTURE SALE.-G. A. Stimson & Co. of Tor.
*These bids appear to be higher than the purchasers', but are so reported were awarded in July $743,000
434% 30-yr. debentures at 99.50. Deby the Clerk.
nom. $500. Int. J. & J.
WAUSAU, Marathon County, Wis.-BOND SALE.-On Sept. 10 the
CANORA. Sask.-DEBENTURE OFFERING.-Proposals will be refollowing 434% bonds were awarded to the Harris Trust & Savings Bank ceived until Oct. 2 by H. M. Sutherland,
See.-Treas., for the following
of Chicago for $95,775 (100.816) and int.:
5 34% debentures:
$40,000 water works plant impt. bonds (V. 95, p. 563). Date Oct. 1 1912. $20,000 30-year electric-light-plant-construction debentures. Interest anDue $8,000 Apr. 1 1926, $12,000 Apr. 1 1927 and 1928 and $8,000
nually in August.
April 1 1929.
4,100 20-year cement-sidewalk debentures. Interest annually in Nov.
35,000 school refunding bonds (V. 95, p. 563). Date Oct. 1 1912. Due
5,000 20-year water debentures.
$15,000 Apr. 1 1929 and $20,000 Apr. 1 1930.
Debenture debt (incl. these issues), $72,110.
Sask.-DEBN
sedryal.,
AssesE
un0$
S
9A
25
L,E
6.
50.
20,000 bridge construction bonds. Auth. vote of 1256 to 397 at the election Sept. 3 (V. 95, p. 563). Date Oct. 1 1912. Due $2,000
CAN UCK SCHOOL DISTRICT NO.719.
Nay & James of Regina were awarded in August $1,700 634% 10-year
Apr. 1 1914 and $6,000 Apr. 1 1915, 1916 and 1917.
debentures, dated Aug. 1 1912.
Interest A. & 0. Other bids follow:
First Say ec Trust. Co., Milw
Par and $715 premium.
CARLSTADT, Alta.-DEBENTURE SALE.-The $3,000 6% 10-yr. deI. F. Childs & Co., Chicago'
$135,577 for (5 issues) $135,000.
BOND SALE DEFERRED.-The sale of the following 434% bonds, also bentures (V. 95, p. 440) have been awarded, it is stated, to Curran Bros.
of Regina.
offered on Sept. 10, was deferred:
$25,000 public building bonds. Auth. vote of 1,256 to 397 at election
CASTLETOWN SCHOOL DISTRICT NO. 118, Sask.-DETIENTURE
Sept. 3 (V. 95, p. 563). Date Apr. 1 1913. Due $10,000 Apr. 1 SALE.-Reports state
that $900 school debentures were purchased by
1931 and 1932 and $5,000 Apr. 11933.
A. Stimson & Co. of Toronto.
G.
15,000 sewer construction bonds. (V. 95, p. 563.) Date Apr, 1 1913.
Due $6,000 Apr. 1 1918 and 1919 and $3,000 Apr. 1 1920.
CLEARWATER SCHOOL DISTRICT NO, 636, Sask.-DEBENTIME
SALE.--UurIng July $1,800 0% 10-year debentures were awarded to Nay'
WAUSEON • Fulton County.Ohio.-BOND OFFERING.-Proposals will
be received until 12 m. Oct. 7 by L. H. Deyo, Village Clerk, for $7,602 52 & James of Regina. Date July 8 1912.
4 )4% Shoop Ave. paving assessment bonds. Auth. Sec. 3914, Gen. Code.
CLOVER VALLEY SCHOOL DISTRICT NO. 2658, Alta.-DEBEN.Denom. (1) $762 52, (9) $760. Date Sept. 1 1912. Int. M. &.
at TURN SALE.-An issue of $800 school debentures was purchased. It Is
office of Village Treasurer. Due $762 52 March 1 1913 and $760S.
stated, by G. A. Stimson & Co. of Toronto.
each
six months from Sept. 1 1913 to Sept. 1 1917, incl. Cert. check for $200,
CLYDE SCHOOL DISTRICT NO, 837, Sask.-DEBEWTURE SALE.
payable to the Village Treasurer, required. Bonds to be delivered within
Nay do James of Regina were awarded in August $1,200 6% 10-year deben10 days from time of award.
ures. Date Aug. 14 1912.
WAYNESBORO SCHOOL DISTRICT (P. 0. Waynesboro), Franklin
ounty, Pa.-BOND SALE.-On Sept. 16 the $10,000 434% 15-30-year
^opt,) coupon tax-free school bonds (V. 95, p. 639) were awarded to the
COLDSTREAM SCHOOL DISTRICT NO. 435 (P. 0. Frankin).
Man.DEBENT URN SALE.-The following bids were received on Sept.
1 for
the $1,500 6% 10-installment debentures offered on that day!
773
THE CHRONICLE
SEPT. 21 1912.]
HOLBEIN SCHOOL DISTRICT NO. 461, Sisk.-DEBENTURE SALE.
Nay & James, Regina wient.$1,480
Oster, Hammond & Nanton,
-Nay & James of Regina were awarded in July $1,200 6% 10-year deben$1,5001J. Mackintosh & Co.,
Winnipeg
tures
dated July 3 1912.
peg
1,490
H. O'Hara & Co., Winnipeg
-The $6,HOPE (Rural Municipality). Sask.-DEBENTURE SALE.
L54
Alta.-DEBENTURE SALE.
COLEMAN SCHOOL DISTRICT NO.1216,
000
debentures which this olace has been offering for sale (V. 95,
impt.
debentures
104.107.
at
Tor.
of
Co.
&
H.
Burgess
C.
to
-Nay & James of Regina were awarded $7,000 5% 10-year
awarded
p. 318) have been
dated July 8 1912, in July.
INDUSTRY SCHOOL DISTRICT NO. 2517, Alta.-DEBENTURE
NO. 993, Sask.-DEBENTURE SALE.
-G. A. Stimson & Co. of Toronto have purchased $1,200 school
CREELMAN SCHOOL DISTRICT
1912
3
Aug.
dated
debentures
SALE.-During Aug. $8,500 6 Y. 20-year
debentures, reports state.
were awarded to Nay & James of Regina.
KEELER SCHOOL DISTRICT NO.491, Sask.-DEBENTURE SALE.
bids were reto Nay & James
DOMINION, N. S.-DEBENTURES NOT SOLD.-No
(V. 95, During July $2,500 8 U% 10-year debentures were awarded
ceived on Sept. 15 for the $20,000 5% 30-yr. water debentures.
of Regina. Date July 8 1912.
p. 641.)
KILLAM, Sask.-DEBENTURE SALE.-Nay & James of Regina have
Ont.-DEBENEASTVIEW ROMAN CATHOLIC SCHOOL DISTRICT, Sept. 25 (date been awarded $4,000 debentures, according to reports.
TURE OFFERING -Proposals will be received until
KINGSVILLE. N. S.-LOAN ELECTION PROPOSED.-The rate(P. 0. Cumming's
changed from Oct 1) by J. B. Charette, Chairman
install- payers will have an opportunity to vote in the near future, it Is stated, on
Bridge), for $20,000 414% 25-year debentures, due in equal annual
a
by-law
providing for a loan of $10,000 to meet the present indebtedness
(V.
1937.
1
to
Jan.
1918
ments of principal and Interest from Jan. 15
of the corporation.
95, p 440.)
Sask.-DEBENTURES NOT SOLD.-No award has yet
been
KINLEY.
yet
has
ELMIRA, Ont.-NO ACTION YET TAKEN.-No action
been made of the $3,500 impt. debentures which this place has been offering
taken looking towards the issuance of $2,000 sidewalk and $2,000 fire-hall for sale (V. 95, p. 318).
377).
p.
95,
(V.
5
Aug.
on
success
5% debentures offered without
LAFLECHE SCHOOL DISTRICT NO. 2730. Alta.-DEBENTURE
ENDERBY, B. C.-DEBENTURE SALE.-On Sept. 6 the $8,000 8% SALE.
-An issue of $1,500 school debentures was purchased by G. A.
20-yr. drainage debentures (V. 95, p. 440) were awarded to C. H. Burgess Stimson & Co. of Toronto.
& Co. of Tor. at 98.35 and int. No other bids were received.
James
&
Nay
LAKE OF THE RIVERS (Rural Municipality). Sask.-DEBENTURE
FIN DLATER, Sask.-DEBENTURE SALE -During July
SALE.-It is stated that an issue of $6,000 534% 10-yr. debentures hasof Regina were awardei $500 6% 5-year debentures dated July 29 1912.
been
awarded to Curran Bros. of Regina.
James
FORT SASKATCHEWAN, Alta.-DEBENTURE SALE -Nay &
LENNOX SCHOOL DISTRICT NO. 317, Man.-LOAN VOTED.-The
of Regina were awarded in August $20,000 debentures dated Aug 9 1912.
SALE.
election held Aug. 31 resulte3, It Is statel, In favor of the by-law providing
FOX HILL SCHOOL DISTRICT NO. 190, Sask.-DEBENTURE
-Nay & James of Regina were awarded in July $400 7% 10-year debentures for the loan of $4,500 for a school building (V. 95, p. 502)•
dated July 19 1912.
LE ROSS. Sask.-DEBENTURE SALE.-An issue of $1,000 debentures
Alta.-DEBENTURE SALE.-An has been awarded, It is stated, to Nay & James of Regina.
FRY SCHOOL DISTRICT NO. 2538.purchased
& Co
A.
Stimson
G.
by
was
debentures
school
of
$1,900
Issue
LON BUTTE SCHOOL DISTRICT NO. 2607, Alta.-DEBENTURE
of Toronto, according to reports.
SALE.-An issue of $1,500 school debentures was purchased by G. A.
AT
ISSUED
BE
& Co. of Toronto.
TO
Stimson
NOT
GEORGETOWN. Ont.--DEBENTURES
$3,500 dbeentures recently voted
PRESENT.-We are advised that the
McDONALD, N. S.-DEBENTURE SALE.-Reports state that an
has
loan
a
as
temporary
present,
the
for
issued
(V. 95, p. 377) will not be
issue of $1,500 6% 10-yr. debentures has been purchased by H. O'Hara
been made.
& Co. of 'Toronto.
-DEBENTURE
GLENADA SCHOOL DISTRICT NO. 2654. Alta.
MEDICINE HAT. Alta.-LOAN VOTED.-A by-law providing for a,
A.
SALE.-An issue of $1,500 school debentures was purchased by G.
loan of $141,000 for water-works impts. carried, it is stated, at a recent
Stimson & Co. of Toronto.
election.
GLENCOE SCHOOL DISTRICT NO. 622. Alta.-DEBENTURE SALE.
MEDICINE VALLEY SCHOOL DISTRICT NO. 2577, Alta.-DEBEN-An issue of $1,400 8% 10-year debentures dated July 19 1912 was awarded
T URE SALE.-G.A.Stimson & Co.of Toronto have purchased $800 school
to Nay & James of Regina in July.
debentures.
SALE.
GOODEVE SCHOOL DISTRICT NO.2697,Sask.-DEBENTURE
1% 10-year
MELPORT. Sask.-DEBENTURE OFFERING -Proposals will be re-Nay & James of Regina were awarded in August $500 133,
ceived until Oct. 18 for the $125,000 6% 30-year water, sewer and light
debentures dated Aug 9 1912.
voted May 31 (V. 94, p. 1585). Denom. $5,000. Int. annual.
URE
SALE.
nebentures
Sask.-DEBENT
510,
NO.
DISTRICT
SCHOOL
GOETHE
J. E. Durnin is Secretary-Treasurer.
G. A. Stimson & Co. of To:onto have purchased $800 school debentures.
Bros. of Regina
SALE.
-DEBENTURE
Alta.
MONTMARTE, Sask.-DEBENTURE SALE.-Curran
HARTLIP SCHOOL DISTRICT NO. 2467.
debentures.
-Reports state that G. A....Stimson & Co. of Toronto purchased $1,500 have been awarded, reports state, $3,000 6% 15-yr.
-An issueSALE.
URE
school debentures.
MORRIS (Rural Municipality), Sask.-DEBENT
s village is con- of $8,000 debentures has been purchased, It is reported, by Nay & James
HERBERT, Sask.-DEBENTURES PROPOSED.-Thl
Regina.
sidering the issuance of $1,150 cement-sidewalk dohs., according to reports. of
NEW LOANS.
NEW LOANS
$65.775.00
CITY OF MINNEAPOLIS
,BONDS
NEW LOANS.
$25,000
$10,000
Putnam County, New York, Town of Conrad, Montana,
HIGHWAY BONDS
SEWER BONDS
Sealed bids will be received by the undersigned
up to 12 o'clock noon, SEPTEMBER 25, 1912. for
the purchase of $25,000 County Highway Bonds
to be issued by the County of Putnam, New York.
Bonds will be payable $2,000 on the first day
of August in each year from 1918 to 1929, both
Inclusive,and $1,000 on the first day of August,
1930, and will bear interest at four and one-half
per cent, payable semi-annually on the first days
of February and August.
Principal and interest payable at the office of
the County Treasurer or at the First National Bank
of Brewster, N. Y., in New York exchange.
All bids must be accompanied by a certified
check for Two Per Cent of the total amount of the
Issue.
The right is reserved to reject any and all bids.
Bonds will be delivered on October 1, 1912.
EDWARD D. STANNARD,
County Treasurer of Putnam County,
Brewster, N. Y•,
September 5, 1912.
Notice is hereby given by the Town Council o'
the Town of Conrad, In the State of Montana,.
that the sewer bonds of said town in the sum
of $10,000 00, bearing interest at six (6) per cent
per annum, interest payable semi-annually on
the first of January and first of July in each year.
will be offered for sale at public auction to the
bidder offering the highest price therefor, at the
Council Chambers of the Town of Conrad, In the
Town of Conrad, County of Teton and State of
Montana, on the 21ST DAY OF OCTOBER,
A. D. 1912, at the hour of seven o'clock p. m. of
that day.
The Council reserves the right to reject all or
bids or offers of purchase.
The
any
principal of said bonds to be payable in
twenty years from the date hereof, and $2,000 00•
redeemable in ten years, $3,000 00 redeemable in
fifteen years from the date thereof, at the option
of the Town Council. All tenders, bids or offers
to purchase to be addressed to R. Ferguson.
Mayor, and a certified check for not less than
$100 00 to accompany each bid to insure good
faith on behalf of the bidder.
Dated at Conrad. Montana, this 5th day of
September. 1912.
ARTHUR D. JOHNSON,
Town Clerk.
By order of the Town Council.
1912.
5,
September
Sealed bids will be received by the Committee
is Ways and Means of the City Council of Minneapolis, Minnesota, at the office of the undersigned,
THURSDAY. OCTOBER 3D, 1912,
at 2 o'clock p. m., for the whole or any part of
$50,000;00 Bassett's Creek Bonds and $15,775 00
SpecialjStreet A AcquLsition.A.and _Improvement
Bonds.
The above-described Bassett's Creek Bonds are
to be dated September 1, 1912, payable:September
1, 1942, at four per cent per annum, payable
semi-annually, and no bids will be entertained
for a sum less than 95 per cent of the par value of
same and accrued interest.to date of delivery of
bonds.
The $15,775 00 SpeciarStreet Acquisition and
Improvement Bonds will be dated October 1st,
1912, to be payable one-fifteenth each year thereafter until and including the last one-fifteenth,
which will be paid on October 1st, 1927, with
interest at a rate not exceeding five per cent,
to be bid by purchaser, payable annually October
1st, and no bid will be entertained for a sum less
than the par value of bonds and accrued interest
• • .
on same to date of delivery.
The above bonds are tax-exempt'in the-State
if Minnesota. The right to reject any or all bids
• •
•
Is hereby reserved.
A certified check for two (2%) per cent of the
par value of the bonds bid for, made to C. A.
Bioomquist, City Treasurer, must accompany
each bid.
Circular containing full -particulars will be
BOND CALL.
nailed upon application.
By order of the Committee on Ways and Means
The city of Paris, Texas, hereby exercises its
at kmeeting held September Oth, 1912.
option to call in for cancellation Water Works
DAN. C. BROWN,
Bonds,
Second Series. These bonds bear inCity Comptroller.
terest at 6% Per annum, payable semi-annually
on the 10th day of January and July, are dated
October 15, 1887, optional October 15, 1912.
at the Fourth National Bank, New York City.
Holders of said bonds will present them as above
mentioned at Fourth National Bank for payment.
The numbers of said bonds begin with 61 and
run to and include 83.
ED. H. McCUISTION, Mayor.
BOND CALL.
PARIS, TEXAS
BLODGET & CO.
F. WM. KRAFT
LAWYER.
Examination of
Municipal and Corporation Bonds
Specializing in
1037-9 FIRST NATIONAL BANK BLDG.,
CHICAGO, ILL.
BONDS
ESTABLISHED 1885.
00 STATE STREET,BOSTON
30 PINE STREET, NEW YORK
STATE, CITY ds RAILROAD BONDS
MUNICIPAL AND RAILROAD
H. C. SPEER & SONS CO.
BONDS
First Nat. Bank Bldg., Chicago
SCHOOL,
1101:RITY AND MUNICIPAL BONDS
LIST ON APPLICATION
SEASONGOOD & MAYER
Bolger, Mosser & Willaman
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds.
SEND FOR LIST.
29 South La Salle St.,
CHICAGO
Ingalls Building
CINCINNATI
EDWIN R. CASE
NEW JERSEY SECURITIES
No better Secrarttlee
No better State
1$ EXCHANGE PLACE
JERSEY CITY
Tele 751 and 753
TERRITORY OF HAWAII
4% PUBLIC IMPROVEMENT BONDS
Due Sept. 3, 1942-32 © 102.75 and Interest.
Tax Free Throughout United States
Accepted at par for Govt. and Postal Deposits
STACY & BRAUN
Toledo, 0.
Cincinnati, 0.
@FedFRASER