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INCLUDING
Quotation Section
Railway & Industrial Section
Electric
Railway Earnings Section
Bankers' Convention Section
State and
Bank &
Railway Section
City. Section
NO. 2518
SATURDAY, SEPTEMBER 27 1913
VOL. 97
Week ending September 20..
Clearings
(frhvou
<ppe
atInc. or
1912.
1913.
1911.
Dec.
1910.
PUBLISHED WEEKLY.
Terms of
Subscription—Payable in Advance
For On© Year...,
For Six Months..
6 00
13 00
European Subscription (including postage)
European Subscription six months (including postage)
Annual Subscription in London (including postage)
7 50
Subscription in London (including postage).....
(including postage)
Six Months
£2 14s.
£1 lis.
....
$11 50
Canadian Subscription
State and City (semi-annually)
Bankers' Convention
(yearly)
•
$4 20
22
29
50
87
Three Months
{i
00
00
00
00
Shepherd, 518 Monadnock Bin k; TeLHarrison 4012.
Office—Edwards & Smith, 1 Drapers' Gardens, E. C.
Chicago Omci-Qeo. M.
London
COMPANY, Publishers,
*)PIne and Depeyster Sts..
New York.
B. DANA
WILLIAM
P. O. Box 95H,'
Front,
Columbus
Toledo....
Dayton
•
Evans ville
Youngstown
Canton
Bloomlngton
every
—
Mansfield
.....
......
k
——
•
Danville
Lansing
Ann Arbor
.
"
Owensboro
indicates that the
The foflowipg table, made up by telegraph, &c.,
total bank clearings of all clearing houses or the United
States for the week
today have been $3,090,819,399, against
$3,273,674,858
$3,370,774,052 the corresponding week last year.
ending
...
last
week and
—..
Tot.Mld.West.
San Francisco.-Los
Angeles
Seattle
Per
Clearings—Returns by Telegraph.
Week ending Sept. 27.
1912.
1913.
Cent.
....
Portland
Spokane
—
Tacoma
New York
—15.1
$1,642,875,051
132,068,995
133,241,092
29,438,871
247,342,478
59,010,509
14,746,048
$1,394,911,760
109,416,346
128,465,115
28,886,447
259,056,305
62,233,016
15,142,408
45,935
376,281
Adrian
CLEARING-HOUSE RETURNS.
486,872
516,948
459,444,207
55,636,736
22,726,981
13,084,208
11,973,707
4,320,085
2,803,467
5,799,955
3,903,306
Philadelphia
Baltimore
Chicago
New
Orleans..
+4,7
Fresno
+ 5.5
Stockton
6,500,426
3,542,102
2,426,889
2,439,309
1,375,788
1,108,809
+2.7
San Jose
700,000
Pasadena...
.
Boston
926,253
—17.2
—3.6
*
—1.9
.
$1,998,111,397
$2,258,723,044
—11.5
562,461,274
515,484,618
+9.1
$2,560,572,671
530,246,728
$2,774,207,662
596,566,290
Total all cities for week.......
$3,090,819,399
$3,370,774,052
—8.3
Lake
City..
Oakland
'
Sacramento
San
Diego
------
16,685,952
12,500,000
8,447,426
5,180,900
4,073,802
2,905,646
:
2,754,577
•-'=
1,963,207
1,937,562
620,015
837,128
916,519
977,738
952,235
752,465
790,000
612,942
522,445
673,196
527,403
450,045
406,226
487,638
420,518
493,777
355,510
300,000
353,385
360,360
J
440,643
300,000
257,522
350.000
258,768
120,972
28,938
156,190
372,756
313,864
387,984,013
368,235,373
+ 19.4
48,946,533
19,372,493
+ 6.3
12.446,150
45,925,418
15,356,174
10,852,396
9,021,248
4,879,471
"
—4.4
38,578
11,871,789
4,300,880
3,185,385
6,849,876
3,023,823
+ 13.4
'
—16.0
—6.9
+ 12.1
—9.2
'4,189,731
'
1,728,174
—11.3
463,802
300,000
2,750,179
1,173,947
1,297,834
690,000
868,988
609,304
316,077
133,812,758
1,497,007
1,800,000
+40.4
5,871,963
2,998,965
1,591,161
1,500,000
+ 17.2
874,212
•876,323
—14.6
973,137
+ 1.4
769,096
+ 6.7
697,199
—9.0
418,134
296,280
687,489
694,309
560,708
481,141
248,186
129,582,948
117,321,994
105,714,683
53,836,828
27,713,817
16,798,215
10,937,103
9,244,204
7,147,626
7,026,374
4,811,085
3,101,350
3,426,761
1,633,636
1,499,591
1,413,915
1,372,431
468,637
672,197
60,155,955
51,890,494
24,478,578
16,060,395
10,841,335
10,993,923
6,251,106
4,766,678
3,434,844
2,696,836
3,248,013
1,477,201
1,368,611
1,253,248
1,140,000
784,986
652,944
—11.1
....
Salt
17,956,635
465,488
422,895
444,792,027
53,165 j378
27,132,506
13,908,250
13,672,467
3,639,358
2,611,421
"
260,374,422
21,849,350-
638,906
610,452
767,105
493,761
•
264,576
159,686
Hi-
Jacksonville,
-
729,738
606,000
542,279
Springfield, O—
Lima
758,038
743,391
815,569
650,000
471,582
675,735
630,246
600,000
423,352
468,774
500,812
270,798
155,857
r 60,640
< 348,722
537,786
653,751
557,860
487,316
Lexington
South Bend.....
Decatur
818,708
2,021,000
860,025
709,048
Quincy
13,534,302
8,654,080
5,152,400
4,280,919
3,221,576
2,512,699
2,120,338
2,406,046
639,036
997,42^
930,235
2,279,316
1,564,798
748,441
1,581,044
1,257,302
885,033
Akron
268,596,377
24,967,050
19,890,820
18,266,621
310,760,685
25,410,700
22,495,679
22,986,418
14,798,976
9,108,655
6,112,500
5,416,966
3,715,948
3,234,432
2,087,896
2,260,931
722,156
1,227,844
1,057,443
1,724,272
2,210,000
Rock ford..
Jackson
Saturday morning by WILLIAM B. DANA COMPANY,
Jacob Selbert Jr., President and Treas.;
George S. Dana and Arnold G, Dana,
Ftoe-Psesldents; Arnold G. Dana, Sec.
Addresses of all, Office of the Company,
;nw m
11i
gs
1
'
gg ■ i
■
Published
-t
111..
Wayne:
Fort
i
(8 times)
(13 times)
Six Months
(26 times)...
Twelve Months (52 times)
(. Tv
Two Mouths
•<*
Standing Business Cards
Indianapolis
Springfield,
(14 agate lines)
Transient matter per inch space
Milwaukee
Kalamazoo
Advertising—Per Inch Space
Terms of
Cleveland
Detroit
Grand Rapids
(3 times yearly)
(3 times yearly) , /
railway and Industeial
Electric Railway
Cincinnati..
Peoria
Subscription includes following Supplements—
Bank and Quotation (monthly)
Bailway earni.ng8 (monthly)
314,890,935
26,024,250
24,815,138
27,364,707
16,550,931
8,469,784
■6,615,300
5,622,345,
4,000,000
3,300,000
2,775,136
2,270,470
681,614
1,194,079
1,211,353
1,684,032
1,350,000
Chicago
flO 00
,
Seven cities, five days
Other cities, five
days__v
Total all cities, five days
All cities, one day...:
The full details for
—7.7
North
Yakima..
Reno
Total Pacific..
City
Kansas
'
56,781,802
33,080,854
18,088,771
10,277,523
8,764,967
7,101,415
8,796,953
Minneapolis
Omaha
the week covered by the above will be given next
Saturday.
"Wp cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day
of the week has to be in all cases estimated, as we go to press Friday night.
below detailed figures for the week ending with Saturday
Sept. 20, for four years:
We present
Paul....
St.
Denver
St.
Joseph
Duluth
Des Moines
4,987.086
Sioux City
Topeka
3,300,000
3,466,204
1,968,125
1,582,665
Davenport
1,588,009
Cedar
Rapids...
1,700,000
Colorado Springs
noon,
530,505
673,011
642,411
....
Wichita
Lincoln
20.
Week ending September
Clearings
at—
Inc. or
1913.
1910.
1911.
Dec.
1912.
%
1,840,626,435 1,845,894,814
New York
—0.3
154.660,727
+ 3.6
Philadelphia..;
160,306,139
51,583,752
37,837,665
—7.4
903,366
Buffalo
55,801,423
38,916,461
11,534,736
6,239.817
6,484,334
4,577,684
2,500,000
2,739,198
1,798,639
1,609,234
1,393,926
2,231,521
1,653,836
1,046,086
—13.7
1,134,080
Pittsburgh
Baltimore
958,690
+ 18.4
713,125
686,700
620,325
+ 30.8
13,084,843
7,250,000
Albany.
Washington
7,164,787
...
Rochester
4,711,803
Scran ton
Wilkes-Barre...
3,005,066
2,908,936
1,815,076
1,903,143
1,462,907
Wheeling
2,297,643
Trenton
1,935,759
Syracuse
Reading...
.
Wilmington....
York
Erie
Greensburg
—2.8
+ 13.4
+ 16.2
+ 10.5
+ 2.9
+ 20.2
+ 6.2
+ 1.0
+ 18.3
+ 4.9
+ 3.0
+ 17.0
1,632,879,331 1,496,709,201
138,886,547
136,223,684
50,492,006
48,572,911
30,036,158
34,163,635
10,090,668
9,390,188
5,888,109
5,733,531
6,495,973
5,815,816
3,339,750
,3,915,827
2,556,402
2,468,079
2,236,473
2,570,930
1,391,836
1,402,226
1,555,431
1,454,837
1,299,109
1,410,784
1,439,154
1,940,779
1,422,192
1,381,879
839,536
854,799
797,652
851,869
544,773
437,880
490,200
488,200
483,010
541,298
672,184
+ 11.2
518,741
465,858
Lancaster
1,500,000
1,200,000
+ 25.0
880,434
943,129
Montclair
391,081
336,561
+ 16.3
...
Chester
Altoona
Total
Middle. 2,144,514,715 2,144,013,616
140,839,537
Boston
Providence
Hartford
New Haven
Portland
—.—
Springfield
Worcester
Fall
New
River
Bedford...
Lowell
Holyoke
Bangor
7,524,700
5,263,581
3,021,089
2,121,462
2,609,442
2,673,682
1,193,986
1,049,240
460,439
642,527
879,325
+ 8.1
—4.6
—11.0
1,022 ,396
1,069 ,224
559 ,578
+ 16.7
—17.7
609 ,469
+ 3.4
,
491
,279
+ 2.7
+ 25.7
+ 13.4
—3.9
+ 2.0
+ 6.5
—1.9
+ 79.0
Fremont
'
147,341,132
6,283,020
4,003,324
2,628,001
1,931,949
2,050,800
2,225,286
917,478
859,929
571,349
692,207
456,866
'
1,754,271,344
142,593,512
6,898,800
3,434,476
2,192,469
1,857,073
1,868,983
2,339,591
1,117,908
905.651
„
479.652
'594,841
168,279,010
183.464.846
-8.3
169.961.521
Aberdeen
....
•
6,057,550
4,801,984
3,897,621
2.467.610
3,224,401
1,563,159
1,495,931
1,756,135
1,144,532
942.197
,
660,070
649,724
294,040
1,328,984
571,737
618,794
270,516
1,785,965
1,055,978
1,426,192
360,000
1,006,101
383,705
313,776
283,470
321,726
152.261
193,957
*
272,056
1,090,686
919,673
450,626
200,000
Billings
507,064
194,596
351,232
167,535,405
155,764,556
+ 7.6
140,668,218
145,002,321
76,600,506
17,967,035
12,224,017
77,510,005
18,813,908
—1.2
"12,934,479
—5.5
76,618,350
17.518,138
12,272,206
65,984,446
15,274,762
11,340,969
10,078,500
8,593,613
7.731,000
8,356,419
5,913,646
6,663,272
Tot. oth. West.
St.
Louis
^
New Orleans....
Louisville-...
Houston
11,622,404
11,838,000
7,732,804
7,988,038
8,065.420
13,473,336
5,980,123
6,554,151
3,575,343
2,331,338
2,831,472
1,800,000
2,284,520
2,282,413
1,300,000
2,850,000
1,961,416
1,711,248
3,970,384
1,693,086
Not included
—0.3
in total
—11.7
Muskogee
865,131
13,413;000
5,294,726
7,374,521
9,194,202
11,251,498
5,627,637
5,778,742
3,587,805
2,146,541
2,382,084
1,815,795
2,482,119
1,661,435
1,130,591
2,650,000
1,698,274
1
1,493,422
3^339,905
2,130,131
187,394
343,514
791,574
679,032
Meridian
320,024
331,056
—3.3
195.243,390
+ 2.5
Galveston
Savannah
Richmond
Fort Worth
Atlanta
Memphis
Nashville
Norfolk
Augusta
Birmingham
—
Chattanooga
Charleston
Mobile
-
Jacksonville
Little Rock
Oklahoma
Macon
Austin
218,970
334,393
Vicksburg
Jackson
Tulsa
1,335,645
:
200,088.763
.
all.3,273,674,858 3,252,861,383
Outside N.
15,005,261
9,917,002
9,542,665
185,699
yJT+SSJHMMI
For Canadian Clearings so© "Commercial and Miscellaneous News.'!
Condition of National Banks Feb. 4, April 4, June 4
23,958,143
Hastings
Total Southern
164.282,956
•
1,412,373
Helena
Total
Tot. New Eng.
....
Waterloo
Knoxvllle.
+ 0.2 1,898,029,481
158,200 ,596
7,342 ,000
4,187 ,423
2,665 ,682
2,208 ,550
2,559 ,635
2,509 .014
Fargo
Pueblo.........
545,902
635,200
650,414
604,413
Bingham ton
-
—6.1
and Aug. 9 1913; on pages 0000 to 0000.
.40«.QR« 569
+46.0
+ 8.4
—12.3
+ 19.8
+ 6.3
+ 13.4
—0.3
+ 8.6
+ 18.8
6,853,816
6,017,453
13,180,089
4.442.611
4,443,016
3,346,781
3,439,788
2,373,641
—0.9
1,973,949
—8.0
1,955,520
2,081,051
1,232,816
2,350,000
1,489,897
1,683,491
4,303,278
1,432,066
234,253
324,018
508,064
+ 37.4
+ 15.0
+ 7.6
+ 15.5
+ 14.6
+ 18.9
—20.5
+ 16.8
—2.7
+ 68.7
+ 27;4
9,960,345
3,722,588
3,525,150
2,673,434
2,362,068
2,685,515
1,656,520
1,634,543
1,557,738
1,366,917
2,129,267
1,293,668
2,482,074
1,375,200
1,531,307
260,392
450,000
845.198
189,591,603
161,932,240
+ 0.6 2;093,556,830
2;699,438,917
O70lV77^h0
L2027f5^fif
,+ 1 Q
LTHE
836
[Vol.
CHRONICLE
Yet utterances of this
ELECTRIC RAILWAY SECTION.
A
new
number of
revised to
"Electric Railway"
our
date, is sent to
The editorial
the reports
discussions in the
same
embrace the
"Standards in Steel Construction
following topics:
and
Equipment," "Estimating the Cost of an Elec¬
tric
Railway"
and "Dispatching by Telephone on
Electric Railways."
bitterness of tone observable in the
The
York
New Haven & Hartford Railroad
Company by the
Inter-State Commerce Commission for the
rear-end
collision which occurred at North Haven, Conn., on
morning of Sept* 2, between the White Moun¬
re¬
the
celebrated rate
of
moods
of
members.
the
opinions handed down in February 1911 in the
were
marked by similar phrase¬
cases were
pointed out at the time,
as we
positive discredit to the Commission
a
that account,
SITUA TION.
Thfc condemnation of the directors of the New
the
softened
have
to
ology and language,
awk FINANCIAL
opinions and
ports of the Commission; and time does not appear
and
;
objectionable nature mark all
and work of the Commission.
We have often directed attention to the habitual
Section,
subscribers to-day.
our
xcvii.
aside from the fact that they
were
on
full
misleading and erroneous statistics, twisted and
distorted
so
of
the
to
as
conclusions
afford support to the
to
appear
promulgated adverse to the contention
The
roads.
Commission is
of it is
worst
the
that
whole
permeated with the idea-that it
so
Express and the Bar Harbor Express, would carry must act as the champion of the public, instead of
greater weight if the Commission in its report did maintaining an attitude of judicial fairness, that the
not display sueh evident prejudice against every¬ different Commissioners are apparently seeking to
thing Connected with the management of the prop¬ outdo one another in the use of violent langauge, in¬
erty
Here is one of the choice statements in the tended to make it appear that they are displaying
document, made with evident relish: "On this direc¬ great zeal on behalf of the public. The opinions in
tain
torate were and are men whom the confiding public
magicians in the art of finance and
construction, operation and consoli¬
recognize
wizards in the
dation of great
The public,-
systems of railroads.
the rate
sioners
New Haven
sioner
two years ago were
cases
of
precisely the same.
shown that this reliance of the
do not think any
fied
as
to either finance or
safety."
was
not justi¬
In connection
With this characterization of the board of directors,
the
of the members of the board
names
are
given at
has
sion
to say
things that would
to
It
was
appear
smart and thus at¬
the duty of the Commission
get at the facts and then let these facts speak for
themselves.
abounds in
zations of the
and
same
prejudice.
numerous
other characteri¬
kind, all betraying strong feeling
Some of the criticisms of the
man¬
agement may be deserved, for there evidently is
fault
somewhere; but the attitude of the Commis¬
The
pline
fact established
one
lax in the extreme.
was
determine
Commission, in pursuit of its desire to employ
it
at best
the
a
To hold up to popular contempt
names
of J. Pierpont Morgan,
Rockefellers will probably
with the
a
the
George F. Raker and the
always be a favorite pastime
politicians and the sensational
press,
but
body holding such vast powers as the Inter-State
Commerce.
Commission,
having under its
control
and domination the whole railroad system of the coun¬
try, should be above such petty work.
for
It is matter
deep regret, and most unfortunate, that the
mem¬
bers of the Inter-State Commerce Commission should
McChord saying:
of
review
of
language
the
results
a
of
clear and straightforward
their
investigation.
Co¬
a
but
serves
to mislead and confuse the
of
problems
already
more
un¬
difficult the solution
perplexing
inAthe^extreme.
may
be for
cause
of this disaster
was
the
grave
responsibility resting
Here, then, the
disaster
The
commen¬
was
case
the
upon
is stated in
fault
of
the
employees and the board of directors can only be
blamed
rules
far
so
it has neglected to, see that the
as
properly enforced.
were
Commission
The
more
entire
than
charges that the directors did
pass
resolutions and then threw
responsibility
on
the
operating
offi¬
cials.
It also asserts that the directors gave their
whole
attention
to
the
company's
accompanies this with the following
Feel called
papers,
the
nut-shell.
"It would
thinking and to make still
"No matter
rules and to exercise the degree
them at the time."
piousness of invective furnishes splendid material
news¬
there
properly be held answerable, the
proximate
with
surate
for sensational and
startling headlines in the
causes
under the circumstances which was
care
the
unvarnished
contributing
referred to to obey
presenting the facts—to indulge in invective
giving in plain and
the part of
The Commission itself, after floun¬
long time, is forced to admit this, for we
direct and
nothing
pungent statements, instead of
In the last analysis the
failure of those members of these train crews before
deem it their chief function to denounce instead of
and
says
But that is
caused by derelictions on
was
employees.
dering
in official authority."
up
superficial view.
a
disaster
is responsible?
or
speaks of "man failure" and
passages,
began "high
which others may
that the Commission's statements fail to carry
ques¬
The
of the property
nence
The important
is, Who was
many
conviction.
peradventure| in
to
how
because of their eminence and promi¬
beyond
tion
parent desire to make points against those in control
a
fairness.
New Haven investigation is that disci¬
Commissioner
manifestly unfair and there is such
of
semblance
all
aside
find
so
We
read these
attempt to judge, but only a purpose
no
trans¬
sion is
person can
condemn and to denounce.
striking
The report
candid-minded
thrown
There is
the present
tract attention?
The spirit is
spirit of hostility and the
a
and reports of the Commission without
opinions
"wizards"?
desire
It is
becoming impressed with the idea that the Commis¬
to
What object was there except a
the
all the essential char¬
reports.
language is made to harmonize with the spirit.
length, with the evident purpose of making the re¬
pointed and personal. What occasion
was there for
this reference to "magicians" and
marks more
possesses
earlier
these
therefore, rested secure that, with the knowledge of
the railroad art possessed by such men, investments
and travel should both be safe.
Experience has
public
on
investigation is the work of Commis¬
McChord, but
acteristics
written by Commis¬
To-day's report
Prouty and Lane.
seem
upon
the financial
and for
a
as
finances
sage
and
utterance:
if the directors themselves would
to turn from the consideration. of
questions in which this road is involved,
time at least give the benefit of their con¬
sideration and
judgment to the question of safety."
Sept. 27
This is
of those inane statements which
one
and improvement of a property,
conduct
the
for
and when that stage
bankruptcy inevitably ensues,
is reached considerations
of safety have to be dropped
of the lack of discipline, it seems to us,
causes
deeper, and it is a defect in
lie much
the present
re¬
adopt the easy expedient
of throwing the whole blame upon the directors and
leaving out of consideration many other circum¬
stances.
It is beyond dispute that all over the coun¬
port that the Commission
Haven road more than else¬
try, and on the New
mote
railroads
He expressed the view-
efficiency of operation.
that
would
safeguard passengers
never
properly until their systems of management were
changed, because responsible officials for different
divisions of railroads are competing for records, as
Costs per mile of operation
he called it.
relieved.
until financial needs are
The
refute
provided
themselves, for if financial means are not
837
CHRONICLE
THE
1913.]
and costs
ton of operation, he asserted, were the guiding
influence of many of these officials, \ Give one of
per
these officials
a
suggestion for the improvement of
physical condition of the stretch of track for which
he is responsible, and that official's thought will
dwell on what the improvement will do to his cost
the
We do not believe
record.
regulations, and discipline
general, have been hard to maintain because of
the
interference of railway labor organizations,
mote
except their1 own.
the evils resulting from the indefensible
that attempts to pro¬
operating efficiency have had any
such effects
under the
year,
where, railway rules and
in
which
recognize
Now that
authority
no
attitude of these labor
revealed, it is
easy
organizations stand so clearly
enough to
say
that the managers
but have
should not have tolerated such interference,
insisted
upon
hazards; but
sulted
on
all
the maintenance of discipline at
we may
be
sure
that if a strike had re¬
the New Haven road because the managers
organizations, the Commission
had defied the labor
would have been the first to censure
the company for
things where the
public carrier were being
having brought about a state of
functions of the road
tween two
whatever
The
a
they might pursue.
course
fixed
intently
finances,
the
upon
and have
delegated arrangements for safety to the
officials.
•
,
reference to
the directors have had their minds
remark may be made with
same
the assertion that
too
as
the managers have been be¬
horns of a dilemma, sure to be blamed
Thus,
interrupted.
operating
Perhaps if the Inter-State Commerce Com¬
mission had allowed advances in rates
the financial
problem would not have been such a pressing one
and the directors would-then have been relieved of
some
for
It is certain
of their anxiety on that score.
that in that event there would
have been more money
carrying out improvements
been
sion itself had
more
Commis¬
these officials would have had
of which the Inter-State Commerce
many
a
hand,
time to devote to the ordinary
the road and thus been in
discipline.
road
has
attacks to
duty of running
extent that has
amounted almost to
It is small wonder under such circum¬
that the matter of ensuring safety of operation
persecution.
stances
did not receive that degree
from the directors which it
In
of personal consideration
might otherwise have had.
apportioning responsibility for the New Haven
are all facts that must be taken into
disasters these
account.
They have all had
a
part in bringing
in wages that are occurring year
after
and the rise in operating costs generally, what
the railroads to do so long as the Inter-State
are
Commerce
the
Commission refuses to permit even
advances in
erate
rates
as
mod¬
for
part compensation
augmentation in expenses.
Obviously, the only
alternative would be bankruptcy.
work to the disadvantage
&
North Western Ry., whose annual report we review
on another page to-day.
This is one of the bestmanaged systems in the country and it and its
management have never suffered condemnation in
the way the New Haven has.
This system, like all
others, has made important strides in operating
efficiency in recent years, and yet, despite that fact,
it is found that the effect of rising operating cost has
been such that an addition during the last four years
present conditions
How
of the roads is shown
of
an
in the case of the Chicago
$17,057,450 to the yearly gross revenue has yielded
addition to net earnings of only $1,140,584 in
of
face
new
enormous
capital outlays calling for
increased dividend and interest
requirements.
Ap¬
parently, the only remedy for such a situation is
somewhat better transportation rates, but the InterState Commerce
all
moves
Commission has thus far
in that direction.
It would be wiser for the
situation
of
blocked
.
Commission to look the
problem
consideration
squarely in the face, for the money
is, after all, the most serious one in any
projects for promoting safety of operations, no
Commission may attempt to belittle
matter how the
the financial end of
position to enforce proper
During the last few years the New Haven
been hounded by legislative and other
an
great advances
which promote safety
Furthermore if the officials had not
distracted by all sorts of investigations, in
of operation.
charged; rather the reverse; but
here
as
railroad management.
Immigration into the United States in
July, as
of the current cal¬
year, was upon a scale strongly reminding one
prodigious influx of foreigners into the country
during recent preceding months
endar
of the
in 1907 and 1906.
in
As
a
matter of fact, in
July, as
June, the arrivals from abroad were greater than
ever
before for the period
data
compiled by
us
covered, while unofficial
indicates a like result for August
September and expectations are that the move¬
will continue large to the close of the year.
is within the bounds of possibility, therefore,
and
ment
It
But it was that the record influx of 1907 will be closely approxi¬
hardly to be expected that the Inter-State Commerce mated, if not exceeded.
In face of this large influx
Commission would go into this phase of the matter.
of those who constitute in these days the element
On the same day that the report of the Inter-State from which additions to the ordinary labor force
Commerce Commission with reference to the New of the country are almost wholly drawn, there are
about the present
Haven road
a
was
deplorable situation.
being published in the daily papers,
speech made by Charles P. Neil, ex-United States
Labor
Commissioner, before the second congress
the National Council for Industrial Safety, was
printed in the papers.
the New Haven road
by
Mi;. Neil did not refer to
but criticized the at¬
name,
tempts so generally made by railroad
of
also
officials to pro¬
constantly recurring complaints from Western and
Southern sections of scarcity of laborers.
That), there
should be complaints
course,
of that character does not, of
indicate that immigration is insufficient in
volume to
supply the demand.
On the contrary,
remarks of Aug. 16 about the
it adds force to our
vast number
of arriving aliens who stick ejose to the
838
THE
Atlantic Seaboard instead of going out into
the
CHRONICLE
Mexican people.
coun¬
Party,
that has had much to do with the efforts that have
which
has fought
been made to restrict the influx of certain types
years
of
of
Only
what
ago—on
called
immigration conference
was
in this
stands
The
an
was
held
by
gates from many of the Southern States and repre¬
This is
sentatives of various railroads and the trans-Atlantic
war.
the
element
he said, should
to bring about peace
and
by all the Mexican people who
have learned the lesson of their
now
the "bottomless
city, the active participants including dele¬
elected,
man
should be supported
Sept. 17, to be exact—
opposed to
frantically during the last three
concentrate all his
energy
few days
a
he added,
war.
XCVII.
At the present time the Catholic
try to assist in its development; a course of action
immigrants.
[Vofc.
'
'
escape from
abyss which yawned before them."
thought to be
-n':-
.
■
j
reference to danger of
-V':\ .'■>
v,;
a
-V'.';':;'.■
"
♦
■
a
foreign
,
•
k»
(
steamship lines.
It
the Southern States needed land workers,
tor Ransdell
the
to
of
General Felix
pointed out clearly that
was
Diaz, nephew of the former dictator,
will, it is expected, be Senor Gamboa's chief com¬
and Sena¬
Louisiana, who spoke in opposition
restriction
of
petitor. *' There
immigration, suggested that if
considerable doubt
seems
movements of General
Diaz,
One
of
as
the
steamship lines would deliver immigrants at New
of
Orleans, there would be
send to Paris to his probable competitor the
complaint of congestion
no
in the Northern States.
The official
Gamboa
ing
immigration statement for July shows
to you
the month this year was
soon
and
immigrants
compares
16,358
For the
of 138,244
non-immigrants),
with 90,518 last
82,191 in 1910.
up
which
than for the
established
gate influx
The
time in 1907,
same
high record.
a new
from Jan. 1 to
July 31
lar interval since
any
Cable
from
Mexico
home
as
dispatches from France announced
held
Santander for
denied.
on
Mexico.
The
doubt
now
the
reports
contest
but that the election will be
October 26, as
on
originally announced.
sentatives of the Constitutionalist
simi¬
1908, aggregating 346,784, against
These
political
•
in
promises to be sharp and exciting.- There
seems no
for the period
heavier than for
were
you to return
you
later
were
Last year the aggre¬
passengers
abroad and authorizes
as
sailed
and therefore
671,080 and in 1911 but 562,647.
was
departures of steerage
follow¬
early in the week that General- Porfirio Diaz had
dar year 1913 the arrivals reached 940,761, or 2,033
more
to
was
by cable: "The President of the Republic
youdefinitely from the commissions intrusted
wishes."
months of the calen¬
seven
Foreign Affairs
like in order to redeem the political
pledges which you have assumed.
Accept my good
61,726 in 1911 and
year,
of
acts
message
releases
that the inward movement of all classes of aliens for
154,602 (made
Minister
as
the
to
last
Radical
duly
Repre¬
Party declare that
Party of Mexico will take
part in
no
-
289,908
a year ago
and 313,050 in 1911.
the election and that the revolutionists will
Deducting
the outflow from the inward movement, we have for
to
the
the
seven
months of 1913
a
net
gain in foreign-born
population of 593,977, which contrasts with
crease
of
only 381,172 in 1912.
in¬
an
In 1907 the addition
Mexico
a
Immigration
into
Canada," which
continues
to
result of "the
J. Bruce Walker,
of the United States.
no
in
state
a
of peace
26
"the
that without the
prolonged drouth in the States of Iowa, Kan¬
and
sas
Oklahoma
in
is
resulting
in
for
considerable
any
emigration from those States into
the
A
a
Western Canada."
outlook
measurably brighter.
in Mexico
appears
to
be
Frederico Gamboa, Mexican
Provisional President Huerta
ite
action
had
been
taken,
Presidency.
Rascon is
the
:
President
Huerta
on
resignation of Gamboa
Affairs.
'He
was
as
Wednesday
accepted
to
demonstrate the Government's absolute
date
impartiality
forthcoming election by not having any candifor the
Presidency connected with the Govern¬
ment.
a
In
accepting the nomination, Gamboa issued
long letter in language of characteristic elegance and
couched in the
•
that .it
»the
is
spirit of broadest liberalism.
his
belief
He stated
the
Catholic
Party
among
the various parties of the Republic and
represented the views of, probably,
a
one.
The
Party,
Eduardo
Tamariz
a
Minister of Public
as
deputies refused to sanction the
action.
possible influence to
President
by "El Impartial"
to whether
as
or
favor¬
secure
Huerta, when
interviewed
not the elections
October, replied "They certainly will."
My greatest .desire is that the whole nation .shall
demonstrate in
dent to rule its
President
the White
a
legal
manner
destiny."
its choice for
N
a
Presi¬
:
Wilson, in conversation with callers
at
House, has expressed his pleasure at what
he considers
cumulative evidence of the
past few
days that the Administration's Mexican policy will
be successful.
soon
pass
in advance
dates
tion.
who
The President will not
upon
seek to
the acceptability of the candi¬
present themselves
-
.
at the
coming elec¬
'
^
was
strongest, most widely diffused and best dis¬
ciplined
the selection of
to
V
that
fair and free
recently shown in the Mexican Chamber of
will be held in
Minister of Foreign
In doing this he stated that he wished
in the
«
able
in
City forces under President
was
Huerta used every
ex¬
he also did of the
old soldier.
an
a
appointment of Tamariz for the position, although
EugenioRascon, for the Vice-
command of the Mexico
Diaz."
as
not be
showing the direction of the political
Instruction.
pressed his approval of the nomination before defin¬
nomination of General
proclamation contends
participation of the Liberal Party
leader of the Catholic
Foreign Affairs, has been nominated for
Presidency by the Catholic Party and has accepted
the candidature.
The
reasons.
can
straw,
Deputies
Minister of
the
necessary for electoral preparaintimation that the Mexican
an
wind, is contained in the overwhelming opposition
:
for peace
those
election
that
The
Liberal Party would
Congress might postpone the elections from October
gration at Winnipeg, Man.,' stated last week that
increase
as
part in the election because Mexico is not
tions,,and bearing
Canadian Commissioner of Immi¬
have
Party, and about fifty leaders,
declaring definitely that the
In fact,
Washington
at
City and signed by Fernando Calderon
take
unsatisfactory agricultural situation
in the western part
Party
refuse
Representatives of
proclamation said to have been issued in
chief of the Liberal
increase, has recently received considerable impetus
as a
Constitutionalist
given out
723,530.
was
recognize Gamboa if elected.
majority of the
■
The labor difficulties in
England and Ireland, that
promised at the close of last week to assume a much
more
serious
form, have calmed down
to
an
appre-
-
Sept, 27
The threatened strike of the motor
in London has been averted, the com¬
ciable degree.
omnibus
men
839
CHRONICLE
THE
1913.]
Trades
tempt to bring about an amendment of the
Disputes Act, which they assert has resulted in the
Monday been induced by Sir
George Askwith, the "Strike Settler" of the Board of
Trade, to grant the demands of the men for the recog¬
nition of their unions.
They had previously agreed
to the other demands.
Among the other points se¬
evils of
cured by the men, they are to
be allowed to wear
prominence to a statement originally printed in the
badge with their uniforms. This had been
causes of the trouble, thirty men hav¬
Liverpool "Courier" which asserted, on the authority
having
panies
the union
on
of the main
one
peaceful picketing and boycotting.
The Home Rule for Ireland
centre of interest
Unionist
of
a
recently
have
newspapers
ing been dismissed for wearing the union button
while
before the Home Rule Bill receives the
duty.
on
Union Congress
load
decided
Trades
the
Tuesday to send
on
ship¬
a
provisions to Dublin for the relief of the
of
strikers
of
Committee
Parliamentary
there,
of whom, with their wives and
many
the verge of star¬
vation.
The committee pledged the credit of the
trades unionists to the extent of $25,000 for this ob¬
children,
reported to be
were
ject and issued
an
on
appeal to the trade societies urg¬
ing them to support the Dublin strikers as long as
that
25,000
men
and
It
necessary.
estimated
3
strike
are on
women
with
connection
in
Ireland
in
out
found
was
or are
the
that
locked
employers'
the Irish Home Rule
an
country
election
Royal assent.
about a compromise
Prospects of the attempt to bring
on
The
much
given
probably in the form of
will be consulted
The
once more a
that the
politician,
eminent
very
question is
in the British political world.
question have sensibly im¬
proved, according to the "Pall Mall Gazette," a
which declares that it is able to state
Unionist paper,
that
communications
important
or
conversations
passed informally between the British Cabinet
Ministers and leaders of the Opposition.
Sir Edward
have
Unionist Party, is
Carson, the leader of the Irish
engaged in
the
bitter campaign in Ulster against
has been delivering speeches of a
a very
He
bill.
that have led the Liberal newspapers to
character
ask whether he should not be
be
prosecuted for sedition
membership in the Privy
separate government for
of his
deprived
the Transport Workers' Union.
or
in the situation in Dublin has
Council.
apparently taken place, although the Lord Mayor
Ulster is
of that
government was, in fact,
concerted attack
on
No definite change
ment
City has published suggestions for a settle¬
plan.
He
the establishment of
proposes
a
committee of six
representing the employers and six
representing the
Transport Workers' Union, with
Sir
as
George Askwith of the British Board of Trade
Chairman, to remain in existence until the trouble
is settled and
established.
permanent Joint Board of Trade is
a
He proposes
further,
as a
basis of
Union that
of
employers who submit to the conditions
employment that the conciliation committee shall
to
seems
be in
English sympathetic railroad strike
The executive committee of
sight.
the National Union of
Railwaymen has
sent
a
cir¬
cular to all its branches advising the men to resume
work immediately, as the
companies have offered to
reinstate the strikers without
Further
progress
nearly collapsed
strain
movement
ago
cope
the United
with"
been
a
National Union of Em¬
with strikes.
An organization known
Kingdom Employers' Defence Union,
guaranties
of
a
£50,000,000,«has
Its objects are to "con¬
resources
maintain their
of
fund
tentatively formed.
solidate the
penalizing them.
movement begun some time
for the formation of
ployers to
as
a
of the employers of labor, to
right and their freedom to bargain
individually with free workers
trade unions."
The
nounced, be registered
or
collectively with
organization will, it is an¬
new
as a
trade union.
ber will be invited to guarantee a sum
with his position in the business
guaranties
of
are
week two manufacturers
At
commensurate
world.
guaranties for
leaders of the movement say
a
has
he
not
This
been laboring).
to be taken seriously,
appear
,
however, by the Asquith Government.
uprising is reported in the Balkans.
Still another
according to
anarchy,
Complete
press
cable dis¬
The Provisional Foreign
there, Mufid Bey, has hastily summoned
patches, reigns in Albania.
Minister
partisans to
arms
to march against Essad Pacha,
Turkish forces
the former commander-in-chief of the
at Scutari..
Essad has raised the Austrian flag
Mufid
has
Bey
called
Avlona to surrender him.
arrived at Brindisi
Government for
July 2 and expressed his in¬
on
in
work
to
a
and
the Government at
Essad Pacha, it is said,
upon
with
agreement
Italian
the
satisfactory and definite settle¬
ment of the Albanian
It is reported now
and that
question.
that he has fled to Durazzo on the coast,
he has taken all the money
Servia's bitter
the Adriatic
an
to
in the treasury with him.
disappointment at being shut off from
by autonomous Albania and the
determination to resist their
be the main factors in the
trouble.
authorities at Koritsa Albania are
on
Monday seized the
there where instruction is
Albanian
girls.
Albani¬
"Serbization"
seem
The Greek
reported to have
American mission schools
given to nearly one hundred
No official report of the seizure has
yet been received by our State
Department.
Constantinople dispatches assert that several of the
fund
foreign ambassadors there believe that Turkey and
meeting held last
£10,000,
does
Individual
said to have promised
are
£50,000 each; others promised
gave
mem¬
not to become operative until a
£50,000,000 is assured.
others
Each
Wednesday night from the great
on
which
under
tention
has been made in the United
Kingdom this week in
Edward Carson, who is ill (having
the absence of Sir
his
adopt shall be exempt from strikes for two years.
The end of the
being advocated by Carson.
ne¬
the part of the Transport Workers'
on
a
A provisional
tentatively organized on
Thursday, the Marquis of Londonderry presiding in
gotiations, the reinstatement of all strikers and an un¬
dertaking
A scheme of
and
smaller amounts.
Bulgaria
jointly
may
against
of
come ■
to
an
agreement to operate
Greece if that nation refuses the
peace proposed by Turkey.
A re¬
still
conditions
The
sponsible Turkish newspaper advances the same idea.
that they intend to de¬
A.
dispatch
from
Belgrade
freight and
of
Wednesday's
traffic
date
the Ser¬
fend the members of the union from outside inter¬
states that
ference, to uphold the inviolability of contracts and,
vian railroads
when strikes
are
intimidation
of
requisitioned for military service in connection with
the conflicts between the Servian troops and the
forced upon
their
them, to prevent the
workers.
They also will at¬
passenger
has stopped,
on
all trains having been
840
CHRONICLE
THE
Albanians
the
on
frontier.
It
is
that
reported
Turkey recently recalled her Asia Minor conscripts
to the ranks and in the last few
The
city
As
days has taken similar
regard to the first and second reservists.
It is also
reported that numbers of Turkish regulars
in
equipped for
advancing
war are
by the Servians and Greeks.
a
of
report
Turkey's
This
determination
Treaty of London and try to
tories.
Press
with
all
its
defy the
to
her lost terri¬
recover
dispatches from Sofia allege that the
Turks have burned
.
to confirm
seems
Mustapha Pasha to the ground
suburbs.
They
also said to have
are
the
all of similar tenor this week.
are
They report
with
marked
a
on
arrived
the public offering of bars
Wednesday, which will be
in
The steamer
Southampton
on Tuesday
£1,301,942 in gold from the Cape—the largest
single shipment ever received from South Africa.
The
total
offering, including
Wednesday,
000
taken for
was
Germany.
this consignment
£1,320,000.
was
on
Of this amount £200,-
India, the remainder going to
Germany has continued
active buyer
an
gold to re-enforce the banking position in Berlin
the
quarterly
Threadneedle
weakness in quotations of securities,
held
day of the weekly sale in future.
for
tres
5%
with
the inhabitants of many districts.
cen¬
offering £900,000
change in the sailing dates of the
a
was
"Kildonan"
of
Reports cabled from the European financial
is
African steamers,
London
devastated the entire Dirk Jail district and massacred
^
result of
a
South
without uniforms but
Edmonton
of
xcvii.
bonds at 96.
action in
through Western Thrace towards territory conquered
[Vol.
active demand from
New
York
Tuesday.
on
an
virtually all parts of the world.
bankers
competition
due
settlement
Street, however, has experienced
have
entered
not
actively in
for bullion in London, notwithstanding
disposition by professional operators to favor the
selling side of the market.
In London weakness in
that
rubber shares has become
here will await the culmination of the German demand
fears
entertained that the troubles in the rubber-
are
growing countries
assume
may
than at present appears
that
is
pronounced feature and
a
viewed
with
greater importance
This is
probable.
some
concern
matter
a
usually
among
sterling exchange rates again approached the
conceded
before
bringing gold forward.
troubles in India
failed.
had
few years ago
a
and who recognize the fact that
First
the
was
however, state that
a
confirmation of the old economic rule that abnorm¬
ally
high
prices for
commodities
encourage
over¬
some
People's Bank of India, which
A renewal of
refer
we
still in
runs are
other
progress on
institutions.
military clash in the Balkans, to which
in detail
more
elsewhere, has not unnatur¬
production and the price pendulum not unnaturally
ally created
swings to the
centres, though its specific influence upon the
both
on
rubber
other
and
The
extreme.
coffee
low prices
bearing
are
of
heavily
very
financial affairs in Brazil at the moment and cabled
reports by
rumors
the
London correspondents
that efforts
has
been
not
closed at
being made by Brazil to sell
are
following
Dreadnought that is in
course
of construction in
all the European financial
nervousness at
tations of Balkan securities
recent
confirm
similar
a
Bulgarian
especially noticeable; Turkish fours
reduction of 1
a
sixes
point for the week at 86,
decline
the
without
remain
preceding week;
change
consols closed last
unsettling influence
with 73 15-16
at
Servian unified fours remain unaltered at 83.
quarterly payments in London has been another
approach of the
the London market,
on
as
has
Greek
monopoly fours
for
Nevertheless, bankers have again been sounding the
3@33^%, which is probably
investment situation and
success
predicated
issues
payments.
has attended their offerings.
was one
stock
of
of
£250,000 in
measure
Among the
of
new
pound shares in ordinary
the English Marconi Company; this was
one
A week
fours
German
announced, to be used in part for the purchase of
cash for the
of
the
Marconi
Company
against proposed active German and French
petition.
The
in London
£3,000,000 4% bonds, redeemable
Canadian
between 1940 and
count
of
required
1%.
to
1960.
Government
This
is
com¬
offering
at
par
a
dis¬
offering is at
Of the proceeds £1,700,000 will be
meet
October
maturities.
Harrod's
Stores have also extended their capital for the
pur¬
pose
the
of
of forming
subsidiary
company
to purchase
Thompson Stores in Buenos Aires.
The City
a
Ottawa has offered
debentures, which
South
African
yearling bills
Underwriters
were
issue of
£189,000 4J^%
oversubscribed at 98J^.
The
an
Government
was
offering of £3,000,000
placed in London
of; the
Victorian
which
was
selves
•ompelled to take 53%
offered early in
on a
4%% basis.
Government
September
were
loan
them¬
of the total issue.
temporary advance
a
October
preparation for the
ago
finished
Imperial
which
protection
the
upon
offered at £3 5s. per share and the proceeds
are, it is
consequent
Money rates
day-to-day commitments closed in London at
Russian
Goldschmidt patents for wireless telegraphy and the
British
evening at 73 7-16, which compares
Friday of last week.
on
101;
2 points higher at 59 and
are
also been the renewal of disturbances in the Balkans.
some
quo¬
the London market
on
British shipyard for the purpose of obtaining relief
from payment for the warship.
The
a
ner¬
Bank, which had fourteen branches.•„ Cable advices,
native
pimply
of
seventy-two branches, and then the Amritsar
large volume of such securities.
is
source
London, though thus far only two native
small British investors hold in the aggregate a
very
It
Reports of banking
also the
were
Bankers'
and these not of first importance, have
concerns,
conservative financial interests at the British centre
of
in
vousness
who recall the wild speculation in
rubber securities
gold-import point at this centre.
threes
the quotation
1
point
are
was
23^%.
lower at 91 and
4 points lower at'72,
evidently reflects liquidation to obtain free
quarterly payments.
The Paris Bourse has been
combination
of
subjected to
influences.
unsettling
a
peculiar
There
has
in the first place, quite general liquidation
been,
in the
security markets for the
ing the proceeds in
some
purpose
of re-invest¬
of the attractive issues of
securities that it had been reported French bankers
were
about to offer.
These issues
were
to be made
attractive, not alone by their high interest rates,
but also
by the large discount
marketed.
be
created
that
among
the
necessary
The
at which they
enthusiasm
that
French investors became
French
Minister
of
to advise caution.
Finance
He
were
to
being
was
great
so
deemed
therefore
it
let it
become known among French bankers that the
large
loans that the French Government has in view must
be
successfully financed before exterior loans of
character will be admitted to the
way
receive official recognition.
any
Bourse
or
Such
notice is,
a
in any
Sept. 27
tantamount to a postponement of all the
of course,
Balkan loans that French bankers
and is not
unlikely to
have become
quite embarrassing to
prove
the French centre who
certain banking concerns at
deeply involved in the finances of
so
Southeastern
Europe.
A
meeting
the financial side of the Balkan
to have been held
It has,
recess.
in due
eral easing
year
was
encourage¬
of 100,000,000 francs,
issue
An
notes of the Brazilian railways is
10-
being offered
It is
by the Societe Generale on a 6 1-10% basis.
said to be meeting an
indifferent
In Berlin interest has centred,
pected,
upon
response.
as
to be ex-^
was
the preparations for the usual quarterly
as
prove,
the re¬
in the recent past, to be over-
leading to such a relaxation at the
centre as to permit Berlin to extend aid to
preparation,
German
other
European
-
Germany,
markets.
as
we
have
already shown, has been an insistent purchaser of
The financial poise in the Fatherland has been
gold.
upset somewhat by the arrest at Hamburg
directors of the Hanseatic
bruch and
Buethe, who
Bank, Herren
were
von
of two
Claus-
charged with numerous
defalcations and with falsifying the balance
It is
sheets.
reported that they have misappropriated some¬
thing like 2,000,000 marks,* in addition to 600,000
marks
is hot
believed, however, that the influence of this
incident will have any
lias
to
practical effect outside Ham¬
On the Berlin market a favorable influence
the news of efforts by influential people
been
restore
and
It
belonging to depositors and customers.
burg.
the
peace
On the other
hand, official announcement was made early in the
week of the. financial
exigencies of the head of the sonamely Prince Max Egon zu
called "Princes' Trust,"
intimate
friends, who found it necessary to float a public loan
of 22,000,000 marks and to mortgage the bulk of
his great properties in the Grand Duchy of Baden
as
security.
The loan will consist of 43^% "pro¬
prietor's obligations" and will be offered for sub¬
scription on the bourses of South Germany under
the special sanction of the Baden Government.
Prince Furstenberg's partner in .the "Princes' Trust"
is
a
the
of
one
Kaiser's
kinsman of the Kaiser, Prince
Hohenlohe.
Both
but it has been
that they
finance
are
most
Christian Keraft zu
possessed of vast properties,
common
talk in Berlin for
These interests
entered very
were
and
multifarious interests.
pooled six
over
newspapers
many
an
arrangement
latter obtained
of the enterprises.
The German
describe Prince Furstenberg's appeal to
public for funds
tion" of the trust.
as
the latest step in the "liquida¬
Money in Berlin closed at 5%,
with 4^%
There has been
no
a
week
change in European official Bank
ruled firm
centres, which is not to be wondered at in view
of the close approach of the October payments.
a
week
ago.
In Vienna the closing
-
7-16%, while in Amsterdam 4 15-16% is
it is still 4
quoted, against 5% on Friday of last week.
rates at the leading foreign centres are:
Official
London
4J^%, Paris 4%, Berlin 6%, Vienna 6%, Brussels5
5% and Amsterdam 5%.
The Bank of
of
England shows this week the effects
It reports
gold exports.
loss in gold coin and
a
of £1,325,852 and of £1,289,000 in
reserve.
The proportion of reserve to
bullion holdings
total
the
has declined to 58.34%,
liabilities
and
week
last
Public
deposits
deposits
51.39%
against 60.75%
were
this date
at
a
year
ago.
increased £609,000, while other
The Bank shows
£662,000 lower.
are
a
net
£1,306,000 in its loans (other securities).
increase of
Its stock of bullion is now
One
£40,681,914.
year
the amount was £41,693,244 and in 1911 £41,-
ago
The total
559,573.
reserve
is £30,472,000, against
£31,315,104 in 1912 and £30,945,503 in the year pre¬
Ordinary deposits aggregate £41,967,000.
ceding.
£44,040,546 and in 1911 it
a particularly favor¬
comparison with last year. They aggregate
A year ago
the total
able
was
Loans make
£43,711,175.
was
In 1911 the
only £27,614,000, against £34,570,252.
total'
Our special correspondent
£29,157,772.
was
following details by cable of the gold
furnishes the
into and out of the Bank for the
movement
Bank
Imports, £27,000 bought in the open market;
week:
exports, £1,275,000 (of which
£1,150,000 to Egypt,
£5,000 to Gibraltar and £120,000 to India), and ship¬
ments of
£78,000 net. to the interior of Great Britain.
The Bank of France reports an
increase this week
11,947,000 francs in gold and a decrease of 7,300,000 francs in silver. - The week's statement shows a
of
loss of
1,875,000 francs in circulation, of 22,900,000
francs in
general deposits and
decrease of 14,250,-
The gold item of the Bank is
27,600,000 francs.
larger than at
a
Treasury deposits increased
000 francs in discounts.
time since 1909 for the correspond¬
any
At that time it reached 3,653,225,000
ing week.
francs, against 3,459,900,000 francs in the present
3,275,025,000 ■
The silver
is 631,981,000 francs, against 760,300,000
one year ago and 811,675,000 francs in 1911.
statement.
.
One year ago the total was
francs and in 1911
stock
francs
3,111,400,000 francs.
Circulation is still well ahead of earlier years, aggre¬
gating 5,519,344,000 francs.
In 1912 the total was
5,185,504,385 francs andin 1911 5,330,759,325francs.
Discounts are reported at
461,187 last
year
1,396,503,000,against 1,251,-
and 1,410,355,948 francs in 1911.
The
In
Imperial
Bank of Germany on Thursday
again presented a strong statement, reporting an
9,124,000 marks in gold and of 34,917,000
increase of
marks in total
increase of
of
cash, including gold.
There
was an
10,254,000 marks in note circulation and
47,188,000 marks in deposits.
Loans decreased
12,516,000 marks and discounts increased 27,593,000
marks.
ago.
rates this week but outside discounts have
at all
5%@5%%
or seven years ago
recently, it is said, into
which compares
closing quotations are 5J^@5M%, which compares
pursued by misfortune, and
with the Deutsche Bank by which the
the
time
,
enormous
but the Trust has been
control
some
have been short of the cash necessary to
their
The
In Berlin
private rate in Paris remains at 3%%.
between the North German Lloyd
Hamburg-American lines.
Furstenberg,
accep¬
4^g@4 3-16% (against 4%).
•"
payments, and it is more than probable that
sult will
finished at
circumstances to expect any gen¬
in the European money situation in the
future/
tances
private bank rate remains at 5%% and in Brussels
that the Balkan loans
and there is slight
course
ment under such
a
adjust
early in October after the summer
course,
at3%@4% (against
week ago) and ninety-day bankers'
3%%
with
settlement
war
Lombard Street short bills closed
Inter¬
however, been postponed indefinite¬
It is certain, of
will appear
near
the
of
Commission which is attempting to
national
ly.
interested in,
were
841
CHRONICLE
THE
1913.]
Total cash
marks 'and
1912 and
compares
amounts to 1,488,018,000
with 1,262,180,000 marks in
1,111,880,000 marks in 1911.
discounts aggregate
ago
now
1,094,708,000 marks.
Loans and
One
year
the total was 1,330,480,000 marks and in the
843.
THE
•
preceding 1,297,680,000 marks.
year
note circulation
Outstanding
1,677,640r000 marks in the
The local money
In the
one.
expectation that
year
place, there
easier for fixed
maturities.
3% this week,
a
practical
preceding.
Latest
$24,159,000
as
Call-money
advices
from
receivable
and
"
did
rates
London
Washington give
as
soon
as
The
move¬
South, it is understood, has been vir¬
tually completed, and the Western applications
there., has
are
considerable part
a
way.
data that may
secure
reasonably accurate.
It is
a
of the Southern banks have
to
pay
be regarded
fact, however, that
Meanwhile
factured
there
balance in
correspondents.
This
drawing
a
small balance either
very
way.
The interior banks,
place, have used their New York credits
in the first
with
which
to
pay
for
Government
the
bonds.
to
such
on
manu¬
large scale that
a
comfortable
a
favor has been accumulated abroad.
money
market conditions
no difficulty in
these balances and bringing gold forward.
that will
attend
that the tariff
now
new
importations of foreign
fully known, that there will be quite
are
of merchandise in this
direction, which will, of course,
corresponding amount of exchange.
The
higher prices of our grain and cotton, resulting from
mean
a
the less favorable crop accounts,
assuring factor in the market has been the indication
seem
into effect.
come
considerable rush in the trans-Atlantic movement
a
| a part of the
deposit allotted to the interior institutions. One re¬
have, not unnatur¬
ally, interfered somewhat with export purchases of
relief will be furnished in October in the
importations of gold. Exchange rates again
be approaching to import basis. The banks
to
question but that
no
our
merchandise
duly deposited
some
soon
improbable, however,
conditions
banks to remit to New York for the
purpose of paying
for the purchases of Government bonds
that
on
It is not
bonds, in connection with other collateral,
as security for the public
funds, Washington has been requested by the interior
form of
were
uncertainty has been virtually removed and the
When these
had been
recent
justify such action, there should be
move¬
ment, however, has two sides and is apt to show
within
by the knowledge that lower
Therefore, should the local
ac¬
have
are
import point.
exportation of produce and
our
be
can
German
gold will be
sterling exchange rates
merchandise
goods have been
Another form in which the Government funds have
purchased by New York banks for the
of
rates of tariff duties
some
off balances overdue in New York.
count of their interior
as
the
at
some
within reasonable distance of the
Importations
evidently used Treasury
has been the result
as
over-preparation
months been restricted
as
If,
quarters, it should be found that
brought to New York,
now
reached New York has been in
payment of Govern¬
ment 2s
been
quarterly payment due at
it is not unlikely that
centre,
deposits is reaching New York in an indirect
This movement is apt to be exaggerated, and
it is difficult to
funds
at the close of recent
of at the Treasury Department.
Reports have been current that
of the
::
the October settlements abroad
be well prepared for the
by the Treasury Department.
care
still
Germany has been an active
buyer of gold in London and elsewhere, in order to
the total amount of public funds that
being taken
5
have been financed.
the close of this month.
now
months'
are
Sterling exchange has ruled irregular, with, how¬
an easier tendency, and there is still some
disposition to expect importations of gold from
and West
the
six
to
Others
•
has thus far been deposited in the banks of the South
ment to
four
of choice character.
ever,
against 33^% in the week
as
bills
names
quoted at 6^@6%%-
rates, which closed, in fact, slightly
money
not exceed
single
greater
On the other
year.
hand, this expectation is not reflected in
by
endorsed
interest¬
an
seems
increase in strain will be felt
some
during the closing weeks of the
way
a week ago), 4J^@4%% for ninety days (un¬
changed for the week), 4%@5% for four, five and
six months (against
5%).
Commercial paper has
moved with some
freedom, and the market closes
slightly easier at 5J^@6% for sixty and ninety days'
preceding.
situation has become
first
[Vol. xcvii.ks:;
4J^%
aggregates 1,888,996,000 marks and
with 1,699,480,000 marks: last year and
compares
ing
CHRONICLE
our
be
great staples.
But,
the other hand, it must
on
frankly recognized that
activity must be counted
period of
a
upon
protracted
abroad for
money.
and trust
There
$5,226,700 to their cash surplus, making the total
above requirements
$10,657,550, which compares
that will tend to
with
$7,371,600
has been received at this centre from Cuba this week.
were
reduced $1,789,700 as a result of
companies in the New York Clearing House,,
according to last Saturday's statement, added
$6,876,000
crease
a
in
Reserve requirements
a year ago.
deposits.
for the week
was
Therefore,
a
reduction of
the
$230,000 in the trust companies.
important demands
week.
in¬
on
a
loss of
There have been
the capital market this
It will be necessary during the closing days of
be
An additional
On the other
Call money has covered
On
a
range
Monday these figures
of 2@3% this
were
the extremes
This is
money
a
feature
markets firm.
shipment of $212,000 in French coin
hand, $1,500,000 has been exported to
market.
In
exchanges have shown
Berlin
closed at 20.41 Yi
week ago.
on
the
rates; for
marks,
as
Berlin exchange
cable, closed
week.
keep European
The Continental
francs
1
for funds by the
some
slight
relaxation in the movement in favor of the German
and coupon
*
pressure
Canada.
the month to prepare for the. usual October dividend
disbursements.
constant
Balkan States and other countries.
only $3,437,000 and reflected
gain of $3,667;000 cash in the banks and
no
cash
will
ar
on
123.40 francs.
Paris,
as
checks
a
reported by
123.62}^ francs, against
Friday of last week.
available for the
sterling
against 20.41 marks
123.67J^
This rate is for marks
settlement; others
are
quoted at
The London check rate in Paris., as
and renewals were at
3%; on Tuesday 3% was the reported by cable last evening, !was 3^ centime lower
highest, 2%% the lowest and 3% the ruling basis; on for the week at 25.24}/£ francs.
*
'
Wednesday 3% remained .the highest and the
Compared with Friday of last week, sterling ex¬
,
;
.
renewal
quotation,
while
23^%
Thursday's extreme figures
2%% the renewal quotation;
the lowest;
2%@3%, with
Friday 3% was the
was
were
on
maximum, 2%% the lowest and 2%% the ruling
basis on| Stock
Exchange business. Time money
closed at
4M@43^% for sixty days (against 434@
change on Saturday advanced sharply,
ing by
a
prominent financial
of shorts, to
concern
on
heavy buy¬
and covering
4 8575@4 8585 for demand and 4 8610@
transfers; sixty days, however, re¬
4 8620 for cable
mained
larity
unchanged at 4 82@4 8220.
was
in evidence
on
Some irregu¬
Monday, when early weak-
Sept. 27
-
ness
followed by a slight rally; the range was
was
unchanged for demand and cable transfers at 4 8575@
4 8585 and 4 8610@4 8620, while sixty days advanced
4
to
with quotations 5 points lower at
and easier,
dull
4
On Tuesday the market ruled
8210@4 8225.
4 8605@4:8615
demand,
for
8570@4 8580
transfers and 4 8205@4 8220 for sixty
cable
Wednesday witnessed
for
days.
further decline during the
a
early trading, when demand went as low as 4 8555
and cables to 4 8595 on increased offerings of com¬
bills
mercial
coupled with
light demand; later,
a
covering of short commitments induced a partial
and the final range was 4 8565@4 8570
recovery
demand, 4 86@4 8605 for cable transfers and 4 82
for
On Thursday the tone was
@4 8215 for sixty days.
quotations
firmer, though the market was quiet and
practically unchanged from yesterday's final
were
figures, with demand at 4 8560@4 8570, cable trans¬
86@4 8610 and sixty days at 4 82@4 8220.
fers at 4
843
CHRONICLE
THE
1913.]
situation with regard to our relations
The
republics
American
South
the
with
ably and sue-,
was
Shepherd of
cinctly set forth in the address by Prof.
in
Columbia University at the Mohonk Conference
He pointed out that there has grown up
domination, or over-,
May.
under the Monroe Doctrine a
is full of possible complications.
lordship, which
the doctrine in its underlying principle
exclusion of foreign interference is accepted,
So long
of the
as
throughout Latin-America, it may properly be
to
bors "less
as a
But the,
enlargement of concrete protection."
an
nothing to
doctrine has
say
extension of territory or
with regard to internal
the dominion of
As
another.
country over
can
held
It is regarded by our neigh¬
diminution of abstract power than as
non-justiciable.
be
oneAmeri-,
matter of fact,*
a
taken place both in the .rapid
the continent
great changes have
extension of the United States across
and in the
of Argentina, Brazil
recent progress
more
weak. and Chili. The world seems to be moving'toward
Closing quotations were 4 8195@4 8215 for sixty days, imperialism, and it already creates concern among,
4 8555@4 8560 for demand and 4 8590@4 86
for the lesser States. The list of the various acts by
Friday the market ruled irregular and
On
4
4
closed at
banks
on
which
have moved in that direction
we
and given-
finished ground for the concern of our neighbors is long,:
bills at and marks a policy dictated rather by the desire to
maintain political headship and to promote .our
84j/2@4 84%, Cotton for payment closed at
commercial aggrandizement than by care for their
81 @4 81grain for payment 4 81%@4 82.:
documents' for
79^@4 81^,
4
at
4
Commercial
transfers.
cable
81^8 @4 82
payment
grain
seven-day
and
New
The
York
in their
Clearing-House banks,
operations with interior banking institutions, have
gained $9,121,000 net in cash as a result of
the
currency movements for the week ending Sept. 27.
Their receipts from the interior have aggregated
$15,395,000, while the shipments have reached
$6,274,000.
Adding the Sub-Treasury operations
and the gold exports, which together occasioned a
loss of $1,842,000, the combined result of the flow
of money into and out of the New York banks for
the week appears to have been a gain of $7,279,000,
follows:
as
ending
Into
Sept.' 26.
Out of
Net Change in
Banks.
fer them to another
negotiated for others.
sole
in
or
the
in
ownership
structed,
any
waterway
$6,274,000 Gain
24,822,000 Loss
$38,375,000
$31,096,000 Gain
$7,279,000
1,842,000
following table indicates the amount of bullion
principal European banks.
sanitation and to
,
Germany.
Russia
...
Aus!-Hun,
Spain
I^aly
Netherl 'da
Nat.Belg.
belligerent
not
imposed
countries,
__
Switzerl 'd
Norway.
.
Tot. week.
552,629,197
Prev. week 552,047,969
OUR
Silver.
Gold.
Total.
Total.
40,681,914 41,693,244
25,279,520 163,675,720 131,000,920
14,300,000 73,275,750j 46,852,750
7,112,000 170,664,000 156,161,000
10,729,000 61,438,000 51,865,000
29,695,000 48,323,000 17,146,000
3,200,000 49,162,000 42,412,000
702,100 12,980,100 12,414,000
8,046,000
4,211,667 12,635,000
5,413,000
5,701,000
7,007,000
6,783,000
2,171,000
2,549,000
41,693,244
30,411,920 161,412,840
16,256,450 63,109,200
7,617,000 163,778,000
11,390,000 63,255,000
29,968,000) 47,114,000
3,580,000 45,992,000
636,000 13,050,000
4,023,000! 12,069,000
5,413,000
7,007,000
2,171,000
95,229,287 647,868,484 522,181,914 103,882,370
95.144,587 647,192,556,521,077,458104,088,327
OBLIGATIONS
IN
CONNECTION
626,064,284
625.165,785
WITH
particular presidential administration
a
be recognized, and has
Latin-American
United
States
ought to
come
to the formal
opening of the Canal with clean hands.
and is
It is to-day
likely to remain the most important commercial
event of the
century.
The world will be present in
thought, if not in fact, and the honor of the day is
ours.
We
dimmed.
more
or
relations
should
actually created two of the
in
republics,
one
by emanci¬
case
European State and in another by
a
Spanish-American country. It
the system of periodical,
separation from
a
finally,
established,
are
To
bound to
secure
see
that,
that the glory is un-
we
have
less pressing duty in three
with the
South
American
matter of the tolls on our coastwise
attitude toward Mexico,.
meetings of delegates from the twenty-one Republics
at
large, known
as
American States,
or
less
common
institution at
the International Conference of
for the treatment of problems more
to them
all, and also the international
Washington called the Pan-American
them."
ground for some
anxiety, and abundant reason why the United States
should do something to clear the atmosphere.
Hap¬
Union, for the diffusion of information about
There
pily,
which
is
obviously
There is
can
be dealt with,
the clearing
would have immediate effect
ica and would also
action in
greatly
up
of which,
throughout South Amer¬
acrcue
to our good name
Colombia for our
obtaining the Panama Canal Zone.
Colom¬
abroad—that
bia is
.
sufficient
do not have to discuss academic proposi¬
a concrete situation close at hand
we
tions.
THE PANAMA CANAL.
The
mediation upon
its
determined whether or
has
£
40,681,914
138,396,200
58,975,750
163,552,000
50,709,000
18,628,000
45,962,000
12,278,000
8,423,333
5,701,000
6,783,000
2,549,000
*
Sweden
elec¬
rules of
investigate reports of ill-treatment
has
It
Indians.
has
Silver.
Gold.
.
nations, to maintain order, to insure fair
can
Sept. 26 1912,
Sept. 25 1913.
Banks of
England..
waterway,
It
of Latin-Ameri¬
has intervened in the internal affairs
pation-from
France
being con-,
now
other * neighboring
hereafter to be constructed between the oceans.
$9,121,000
22,980,000
Total
The
.
and
It has asserted its right to
acquired naval stations in Latin-America
has
Bank Holdings.
$15,395,000
interior movement
Sub-Treasury oper. & gold exports..
in the
country possessing colonies in America to trans¬
Power without its consent.
It
pean
of
Banks'
unwilling to allow a Euro¬
tions, to rehabilitate finances, to enforce
Banks.
Week
States has declared itself
United
instance: "The
For
interests.
immediate
is,
reparation: to
appealing in
a
direct and manly fashion to the
definite and
sentiment of
directions—our
ernment has
already advanced
Republics, the
stantial
-
justice in the American people; our Gov¬
a
shipping and our
:
ence
of
money
the
Tribunal.
so
far
as
to offer sub¬
compensation;. Colombia asks refer¬
whole
matter
at
issue, to
The way would seem to
the
Hague :
be fairly
open
844
CH EfcONICLE
THE
|
settlement which would be both reasonable and
to a
honorable.
action
In
.
on Our
any
part which shall set
of the world and
of
us
right in the
eyes
give expression to the real attitude
nation and the
our
the hour demands some
case,
feeling of
our
people toward the
As to the matter of
domestic
remitting the toll
shipping through the Canal, it
our
upon
to be
seems
pretty well settled what the authors of the HayPauncefote
Treaty meant and what the Senate
.
j
|
.
situation remain.
the
alternative
whose
subjects
action,
We
either
of
would relieve
The
there is
any case,
be pressed toward
invite
the
other
in the
necessary
of
such
offer
an
charge of self-interest.
In
for action which will close
reason
the situation before
nations
in united
us
should necessity
be
may
acceptance
from all
us
xcvii.
.
services to act,
our
all.
.
in danger to join with
are
to offer
or
„
.
to
seem
to
arise, with whatever force
interest
neighboring republics.
[Vol.
.
long.
Lord Haldane in his address before the Bar Asso¬
un¬
derstood in approving it.
ciation in Montreal said:
our
best
"There are signs that the
people in the best nations desire to consider
their
neighbor's point of view
Mr. Choate, at that time
Ambassador in London, has on several occasions
said
that
the
final
details
of
the
treaty were
so
largely settled between Lord Lansdowne and him¬
This he put
self that it
is
by their
minds
might almost with propriety be called
those
when they
of
there
Lord
entered into their
never
and
Pauncefote
Mr.
include the United States. We
is
good
legal
for
authority
are aware
authority has also said that it
same
and unwise to do
necessary
because
sels
are
coastwise
was
ship
7
both
our
It is unwise
the other
on
sharp and dis¬
upon us
our
national good
it has
as
developed in the
prolonged discussion, would it not be wise
view to
a
us
formally to
settlement,
or
The fact that
some
of the Suez Canal upon
do the
reopen
as
well
as
the matter, with
at least the adoption of a
less controverted method of
no
"
1
1
"
T
.
—
■
■
t
■
6
'»
UNDER DIFFICULTIES.
In
article
our
the
the Financial Situation
on
Inter-State
favoring American ship¬
nations
the
assume
charges
their, vessels, and that they
with the Panama Canal charges,
means settles the propriety of our method of
not been
same
tolls.
remitting
coastwise
The
real
question
shipping need protection ?
settled,
there is
a
dicated
on
does
our
And that has
indeed, discussed.
or,
better way
a
is,
of providing it.
dis¬
we
no
occasion for complaint, since
Commission's
Sept. 2.
re¬
the morning
on
In advance of that report the New Haven
itself, drawing lesson from the disaster, promulgated last week new rules for regulating advance¬
ment of
engineers and firemen.
order is that their
hereafter
Jn
substance
rights to preference in
be
with less than
allowed to
two
run
year's road experience shall be 7
one
local passenger trains and none with¬
years' road experience, "as
shall have
charge of
engineer shall
express
an
engineer,"
trains; further, that
run any passenger
train until his
petency has been properly certified, unless
panied by
other
sonal
competent
some
rules
employee.
no
com¬
accom¬
There
concerning "spare" engineers, the
are
per¬
responsibility for enforcement of all rules and
discipline and
most
concerning appeals, but these
important
for
this
for the
the
are
.Further,
purpose.
declared that not hardship to the men
it
is
but safety
public is the aim and that safety must be
first.
>
•
Now, it is well,
the
the
shall
runs
governed, not merely by "seniority,"
by fitness and previous service; that no engineer
but
If it does,
We have in¬
previous occasion that we thought that
foreign countries had
of
Commerce
the wreck at North Haven
on
out
•.
.
gracious for
now
and the competition of the
seriously; and,
action has drawn
our
the
on
are
.
by
ocean
public opening of the Canal will bt
MAINTAINING RAILWAY DISCIPLINE
un¬
by the
because,
transcontinental railroads
In view of the situation
may
the other side of the
on
It
wide
as
road
of the vessels.
ping ?
hearing
The
■
prohibited from participating in the business,
freight rates will be, as they are, "all that the
agreeable criticism which injures
a
their own."
opportunity for America to confirm that dis¬
port
under heavy burdens,
name.
as
tinguished and hopeful utterance.
ves¬
owners
absolute monopoly, in that foreign
an
Canal threatens them
hand,
the
cuss
hand,
one
this.
on
tolls, but
traffic will bear"—that is, a maximum fixed
owners
as
have
already
and the
domestic
our
and favorable
It is unnecessary
so.
well
as
the ground of his optimism.
as
noteworthy that his address has received
right
our
under the treaty to make remission of the
the
Hay
talking about "all nations" that the
were
term did not
that
and that it
names,
or
forth
latest
monition
once
disaster
that
is
the
more)
still
while recollection of
fresh, to repeat the ad¬
defective
discipline
certainly existed is not the fault of
one
which
has
side alone.
the toll exemption applies
only to our coastwise
trade, from which alien shipping has always been ex¬
undistributable and unrecognized part.- Here is an il¬
cluded; but it is undeniable that
lustrative incident:
the matter exists
over
stances it would be
a
feeling of
soreness
abroad, and under the circum¬
happy solution of the difficulty
if all ground for ill-feeling were removed
by elimi¬
a
As to
Mexico, the situation is much
Unless there is
a
very
more
great change,
we
diffi¬
cannot
to the formal opening of the Canal without the
go
consciousness
there
is
strides
the
of
present
distress.
Of
course,
possibility of Mexico's making rapid
establishing a Government suffi¬
toward
ciently stable to
before
the
a
crisis
preserve
comes.
order and to be recognized
But the patient and
waiting
policy of the United States, however justified thus
may at any hour prove inadequate, and in any
far,
case
offers
the lives of
at
no
guaranty either for the property
foreigners
Panama would be
or
Americans.
cent
report
on a
discipline the public must bear
The Inter-State Commission's
rear-end collision
in California"remarks that the
on an
or
The jubilation
seriously clouded should that
imperfect performance of his specific duty
have been the immediate
cause
of the
Ipeen less than four weeks employed and
classed
as
a
"student
ment is made that
seems
disaster,
was
conductor"; the further
only
one
re¬
electric road
or
had
an
flagman, whose neglect
to
nating the exemption feature in the coastwise trade.
cult.
For the defects in
still
com¬
of the six conductors
on
the trains involved in the accident had obtained any
considerable experience and that train
not be made up
Now that
Fagan,
some
a
quite
uncommon person,
should
Mr. James 0.
philosophic articles to the
Monthly", referred
promulgated
(whose
crews
new men.
railroad signalman who has contributed
notable critical and
"Atlantic
order
entirely of
name
on
very recently to an
Aug. 1 by Mr. W. G. Lee
has been much in print in this
the matter of the still
year
in "
undisposed-of demands of the
<
Sept. 27 1913.]
Brotherhood
845
CHRONICLE
THE
pf Railway Trainmen) concerning in¬
needs
deep analysis* however,
no very
pr
profound
pretations of schedules have been agreed to "between
study to discover that the situation in the railroad
industry remains trying in the extreme, and that
specially favorable circumstances as regards $rops
and the state of trade, together with steadily develop¬
railway officials and the authorized General Griev¬
ing efficiency of operations, alone account for the
terpretations and difficulties between these men and
their
At their latest convention, held
employers.
in San
Francisco, it
Committee
ance
resolved that when inter¬
was
of
the
Brotherhood,"
cials," then in such
the violative instructions
case
"shall be considered unlawful and
part of
members to
our
a
refusal
the
on
out such instructions
carry
shall not be considered insubordination."
Cast this in
the
a
of
plain terms, and the meaning is that
joint determination by nominal railway
and the Brotherhood officers, and, in case
managers
difference, the latter is the paramount authority;
a man
who stands upon
tion
is
will
see
the authority of the organiza¬
that he suffers
would be
and
"insubordinate"
not
harm.
no
the
organization
An exact parallel
organization of soldiers in service and
an
The main
declaration that if the soldier obeys
a
his organization
v
particulars in which the year was marked
by favorable circumstances were in the bounteous
harvest of
spring wheat raised last year in the terri¬
activity in the iron and steel trade of the
country, as a result of which latter the company
enjoyed
Northwest
that
ore
traffic
on
generally in that part of the country
was of
unusual dimensions. No
season
statistics aFe given
in the report showing the differ¬
of freight carried, but in the case of the
ent kinds
Milwaukee & St. Paul report
had been a very
it
was
Western
the Chicago & North
tonnage and the experience of
tions, it
officers
under
the
organizations.
tion of
some
back to
plant
discipline at all under such condi¬
that the roads
means
that if
newspaper
their .employees'
a
trainman is sent
signal, in circumstances such
caused
as
September 2, and does not
back far enough, what is to be done about it?
If he starts
only
or
by their chosen
to give point to the ques¬
seems
the rear-end collision of
go
of
direction
This
a
are run
a
little
tardily
go,
deliberately
moves
(lest his train
way
pretends to
or
or
goes
without him)
move on
but does not, how is he to be disci¬
organized railway employees
their way—as
over
are
increases and particularly by the union
wage
inexperienced engineer at the throt¬
tle in the Stamford disaster—and then when
comes
and
the
accept all the criticism, it is time the public
physical laws
persons
and take
of
accepted the situation.
nature are no respecters of
account of the difficulties of
no
maintaining discipline; when they
pitilessly
impose
For
a
the
penalty
are
upon
exposed.
persons
-
calamity
railway is to bear all the pecuniary loss
distinctly understood and
The
to have
has been illustrated in the contests
rule which put an
the
violated they
the
nearest
Western's
North
The
freight traffic,
increased from 37,265,642 tons
tons in
1913,
or over
there has been
a con¬
as
whole,
a
in 1912 to 44,839,071
20%, while the expansion in the
tonnage movement one mile was even more striking,
there
having been
miles
ton
to
addition of
the
in
increase from 5,146,634,307
22% in
over
This
to
as
traffic
arising out of
large Crops, the activity of general trade and the
late
Of
in part the
course,
year's gain in the freight traffic represents
of what
recovery
falling off then
number of
at all
As
was
was
tons
really very slight.
of
freight there
a
was no
consequence
a
lost the previous year, but the
In the actual
falling of
was no
then,, and in the tonnage movement
the decrease
the
22%,
over
or
single 12-months period
a
freight movement indicates how favorable
the circumstances
were
the
an
6,282,916,222,
one
mile
jhore than 5.28%.
of the noteworthy expansion of
freight movement and the continued growth in
the passenger
traffic, the
revenues
from which keep
steadily rising in good periods and bad periods alike,
there
during the late
was
to total gross
year a very
1911 and
large addition
earnings, these reaching $83,035,921,
against only $73,698,591
.
number of years past
mineral
The
same.
tonnage also, it is certain, was of unusual dimensions.
gr§at demand for iron ore.
plined and compelled ?
If the
doubtless
was
found that there
marked addition to the agricultural
from
If there is any
its branches tq the
The 1912 yield of spring-wheat in the
was the very largest on record and the
grain yield
in
large
a very
regions.
ore
instead of his nominal commander he shall be screened
punishment.
and in the
tory tributary to the lines of the system,
great
physical operation of railways, through rules, is
matter of
satisfactory outcome.
"by railroad offi¬
have been violated
agreements
such
and
in 1912, $74,918,186 in
The most gratifying
$74,175,984 in 1910.
stant dilation upon
"rights"—rights of labor, rights
feature, however, of the income return is the fact
of accused
persons,
rights of voters, rights of indivi¬
that for the first time in
dual
citizens,, and
so
half-forgotten word.
sider and
There is
on.
•
Let
us
another and
a
has also been
a
con¬
The net earnings for 1913, above
reported
WESTERN RESULTS
IN A GOOD YEAR.
Interest, attaches
to
the
annual
dition to the net.
in gross
of the
report
ency,
as
there
in the net
are
taxes,
$17,540,872 in 1912.
NORTH
years
recovery
earnings.
337,329 addition to
&
long series of
and
begin to seriously
emphasize "duties."
THE CHICAGO
a
substantial
very
expenses
$21,197,277, against only
In other words, with $9,-
gross,
there
was
$3,656,405 ad¬
Under the magnitude of the gain
and the further advance in operating effici¬
the downward tendency of the net income,
we
Chicago & North Western Railway Co. beyond that
thus see,
connected with
Previously, the net income had been steadily tending
It is
systems.
railroad
the
one
reports of most other railroad
of the strongest and best managed
properties in the country and in its
tions and statistics there
tendencies
industry
in the
and
with
case
be traced the
as was
prevailing
relating to the railroad
greater distinctness,
of other railroads.
for the twelve
factory,
can
conditions
opera¬
perhaps, than
The income
showing
months under review is very satis¬
known in advance it would be.
It
has at last been arrested, and reversed.
downward, whether
upward
or
revenues
gross
downward—because
ing higher and still higher.
were
expenses
moving
kept mount¬
In 1912, with $1,219,594
the decrease in expenses and taxes
was only $4,062.
In 1911, with $742,501 increase
in gross, the increase in expenses and taxes had been
decrease in
gross,
$995,613, while in the year preceding the record had
been yet more
disappointing
as
regards the net, for,
'
1
THE
846
in face of
a
wonderful
CHRONICLE
expansion in tonnage and in
taxes
it
[Vol.
$174,322, in 1912 it
was
xcvu.
$306,804, in 1911
was
$136,521 and in 1910 it was $264;881. "For
off;
1913 the taxes aggregated $3,597,160, as against
that is, though gross earnings moved up no less than
$8,197,213, expenses and taxes rose in-still-larger $2,714,632 in 1909.
net earnings had actually fallen
gross revenues,
"amount, leaving
Still another circumstance that has served to in¬
heavy reduction in the net.
a
was
'
If
unite the
we
find that while the
years we
1909 and 1912
the net
rose
earnings (after providing for expenses and
outside
small loss
the
on
actually decreased from
operations)
$20,-
The reversal of the down¬
056,693 to $17,540,872.
ward
between
$73,698,591,
gross revenues
from $65,978,471 to
and taking into account a
taxes
preceding
for these three
results
tendency of the net during 1913 is, therefore
gain in
net, as „already stated, was $3,656,405, but this
represents to the extent of $2,515,821 a recovery of
what was lost in the net in the three years preceding.
peculiarly
encouraging. 1 The
Comparing 1913 with 1909 it
is
now
year's
late
that the gross
appears
$83,035,921, against $65,978,471 and the net
$21,197,277,
This last
against $20,056,693.
com¬
operating cost has been the decline in the rates
crease
received.
That is
overlooked
as
with the rate lower
represents
a
circumstance
a
contributing
a
but, obviously,
given amount of
a
gross revenues
greater amount of transportation services
rendered and the larger
gate, the
quite frequently
cause,
these services in the
enter into the same,
provided there
are
not offsetting
savings and economies in other directions.
late year the Chicago
against 9.1 mills in 1912 and 9.0 mills
tonnage,
as
The decline of four-tenths of
but
year may not seem
applied to
as
of
a
mill from the
great consequence,
any
tonnage movement of
a
parison is significant of the trying conditions under
000,000,000 ton-miles, it really represents
which railroad operations
able
I it
that
ago
addition of $17,057,450 to the
an
has yielded
gross
for
on,
addition of
an
than $1,-
no more
r140,584 to the net.
ment to
in
6,-
consider¬
naturally been the endeavor of the
manage¬
in the aggregate.
the effects of these various
overcome
swelling the
agencies
account through economies
expense
of various kinds in the
:-
over
a
sum
It has
from this comparison with the results four
appears
years
have to be carried
an
ton per mile on its freight
per
in 1911.
previous
For the
& North Western realized
of only 8.7 mills
average
aggre¬
of labor and everything else that will
more
handling and moving of traffic
*
The
has
great "rise in
had
operating cost here disclosed
contributory elements and circum¬
many
In the first place
stances.
the price of nearly
every¬
thing entering into railroad accounts is higher than
it
was
few years ago.
a
material advances in
are
of
In the second place,
wages
these
points,
but
there
figures with reference to
noting the changes in
There
have occurred.
statistics in the report bearing on
no
advances in
from
the first
illuminating
are> some
expenses
very
In
wages.
to year the
year
North West report always states how much of the
increase is due to higher rates of compensation and
For the late
how much to increased time.
increase
on
account of higher rates
For 1912 there
$495,896.
was
that account of $471,397,
the
year
of compensation
increase
was an
notwithstanding
a
on
falling-
and in
developing improved methods and increased
It is surprising how much has
efficiency generally.
been
accomplished in this respect, though, of
it has not been found
effects
the
so
of
many
many
to
worthy in its
character and extent
loads out of the,
as
addition because of that circumstance
1910 the
This makes
$738,751.
total for the four
a
$2,817,350, owing to advances in wages..
does
in
augmentation
whole
the
show
not
of
the
years
of
But this
addition.
accounts
expense
was
The
arising out of
changes in labor conditions does not appear to its
full extent in
of
rates
forced
computations based merely
by legislation
necessitating
counts
crease
If larger train
compensation.
or
the
the
under
subject, it
late
crews
heading of
year's
"Increase
$2,065,407.
swelling
While
is well enough to note, that, of
operating
magnitude of this total it
in
on
Worked", where the amount
$32,911,995,
expenses
56.50% went to employees for labor.
or
are
other requirements imposed,
of addition in the late year was
the
higher
greater force of employees, the in¬
a
account of more Time
on
on
expenses
even
can
be
seen
From the
what effect
small advances in
wages
the average
Another
on
the
other
tax
factor in the
augmentation in
Chicago & North Western, in
expenses'
common
with
railroads, has been the, constant growth in the
levies, either
as a
result of the imposition of
new
taxes, increases in rate, or perhaps more frequently
ncreases
in assessments.
for
Missouri
In 1913 the addition to."
average
was
train
given separately
appears
that
the tonnage west
on
only 148 tons, notwith¬
improvement in the average during
the last two years.
load
the lines of the
and from them it
train-load in 1913
some
greatly
more note¬
traffic is of such
high
for these Western lines have been
in the last two reports
whole
the
lines)
Nevertheless, the average trainsystem (including the trans-
was
for 1913 348 tons, against only
1912, but 277 tons in 1911 and no more
299 tons in
than 260 tons in 1910.
.The
result of this addition to the train-load has
been that the trains have been able to earn a
in the average rate
realized.' The improvement in
has been very striking indeed.
that respect
greatly
mile run1 in face of a decline
increased amount ,per
In 1909
freight trains earned $2 33 per mile run and in
the
1910
only $2 32.
first to
$2 50 per
in 1912 and
now
From this there was an increase
mile
run
in 1911, then to
Thus the
to $3 03 in 1913.
of the trains has been
raised in four
years
$2 71
revenue
from $2 33
mile run to $3 03, representing an improvement
over 30%.
per
of
Except for this development
the
of operating efficiency,
prosperity of the company would have become
seriously endangered
necessarily have.
as on
manage¬
very
The train-load figures
question.
standing
higher rates of compensation was $1,111,316 and in
adding
to render
Like
expenses."
This is. the
inasmuch
case
of the Missouri River
account of
on
in
system west of the Missouri River
off in traffic which involved a diminution in the force
In 1911 the increase
augment
the average ^train-load.:
to
of
employees.
influences and conditions
successful
been
course,
entirely
overcome
other railroads the North Western's
has
ment
the
combined
have
that
possible to
imposed
upon
railroad
under the trying conditions
managers;
for,
as
with other
big railroad systems, large new capital outlays in the
shape of stock or bonds are necessary from year to
year
to provide additional facilities and
conservative
way
extend in
the lines of the system;
a
conse¬
quently, considerable additions to net earnings are
v
Sept. 27 1913.]
meet increased requirements for divi¬
necessary to
dends and
charges.
In the previous fiscal
margin above the dividend requirement
results for the twelve months
;
being only $567,715.
considerable
is
of
being
For the late
further
be necessary to
year,
the
there
become
recently
as
This will
as
months
balance
a
few
years ago
when
we say
on
the
seven years ago,
specific appropriation
a
is
even
the operations of the twelve
in the
sum
of
$2,316,609.
5,000
planning to build
more
Speaking in
a
of the railroad situation in Brazil,, the
way
trend is to build toward the interior, thus providing
outlets for the coffee, rubber, cattle, hides and
easy
other
products that
to make
go
up
years
a
dividend requirements
over
general
or
over
of the country,
additional miles of line.
will
however,
$6,000,000 out of the year's earnings and
then had left
than 2,000
work
appear
1905-06, only
able to make
company was
has under construction
now
the country's
As
result of
a
under way or projected, it will not be many
before the most southern part of the country
connected by rails with the mouth of the
be
will
Amazon.
regarding railroad operations had
trying.
so
and controls
owns
large and increasing export trade.
back to the plane
company
Ry., which
miles of road in the southern part
of $3,775,407.
sum
prosperity which it enjoyed only
that
under the
The Brazil
:??847
stock and 8%
common
improvement,
bring the
before conditions
of
on
preferred) in the handsome
Considerable
of
slight,
surplus above the requirements for dividends
a
the
the income
very
encouraging nature,
more
(which remain at 7%
on
on
really
was
the
year
gain made in the earnings, the showing
decidedly
a
CHRONICLE
THE
Chile,
the
noted in the spring, has made notable
as we
in recent
progress
in railway building and at
years
present time the mileage, either in operation,
under construction
Most
projected,totals about 7,000.
or
important of the roads is the longitudinal rail¬
which when completed (and the time is not far
way
off) will extend from Arica in the extreme North
southward
miles
2,200
some
Montt.
Puerto
to
Tapping this line there are to be 28 roads from the
V
RAILWAYS OF SOUTH AMERICA.
The Bulletin of the Pan-American Union for
ust contains
a
trated article
the pen
Aug¬
interesting and profusely illus¬
very
the South American railways from
on
mountains to the seaports,
8
Chile indicates
A glance at the
As
map
of
clearly how well this North and South
road with its feeders will
of Mr. William A. Reid, of the staff of the
and of these all but about
already in operation.
are
serve
its various interests.
regards Peru, Mr. Reid writes
fully of the
very
initial steps
taken in railway building there, and the
countries# and fitly supplements our remarks on the
same subject from time to time.
Speaking of Argen¬
difficulties
necessary
tina Mr. Reid
to what
Union, which traces the
Buenos Aires
and 1909,
which
(under
a
from
concession granted in 1854),
increased
has since
to
grew
to 16,600
20,314 miles, of
than 16,000 belong to private corpora¬
more
Of the
tions.
westward
constructed
were
the mileage of the Republic
and
miles
explains that between 1857, when 13
road
of
miles
made in the various
progress
derived from
capital invested about 88% has been
foreign
Britain, which has supplied
and
which
Pampa,
or
Buenos
consequently
section
central,
The lines in operation,
mileage.
include the
1,700,
are
Aires
Southern, with
a
largely in the Provinces of
south to Bariloche, to
Puerto, Deseados in the far
connect with the
lineTrom the latter point to Port
This is about
San Antonio.
It is
half-completed.
of interest in connection with the
foregoing that the
railway convention signed between Argentina and
Paraguay
on
April 7 has since been reported favor¬
ably by the Constitutional Committee of the Senate
and similar action has been taken
on
the protocol,
signed June 17, between Argentina and Bolivia for
immediate
construction
of
the
tion to railroad
building at about the
Argentina, granting
was
a
concession for
inaugurated the
same year,
Central Ry. was opened for traffic,
northward
point
an
operating by
In 1858 the firsr section of the
system of cogs.
which
a
time as
road in 1854,
same
to
Pirapara
extension
to
and the road now
(630 miles), from
Diamentino
is
pro¬
jected, and westward to Jupio, the intention, being
to
carry
this latter line to the Bolivian boundary.
made last
as
Colonia,
at
work is under
any
the Pap-American,
opposite
on
will-
the boundary
in railroad building than any
It is only
other division of South America.
ten years
since the first line
ing the mule train
La Paz
was
about
constructed, replac
stage coach running between
or
Now there
(the capital) and Lake Titicaca.
upwards of 800 miles of road in the country and
are
the work of
constructing additional railways is being
The La Paz to Arica (Peru) line
vigorously pushed.
and that via Lake Titicaca to Mollendo
been
so
way
which,,
Aires,
Buenos
in
probably made relatively greater prog¬
the last few years
ress
year
lines, the
•,■
completed and
far advanced
on
are
150 miles of the
thermore,
road
on
the lines running from
the Beni
says
of railways,
panies operating
paratively short.
construction
to
by rail to within
Fur¬
Riberalta
River, Bolivia will have, via the
the
completion
Amazon, another outlet for her
some
work has
the capital
Argentine roads at La Quiaca.
with
Colombia,
(Peru) have
in operation and
southward that it is possible to go
tem
Brazil, it is pointed out by Mr. Reid, turned atten¬
extends
which
upon
what is known
Bolivia has
Tupiza to La
Quiaca line.
which
on
line.
has
has since
large part true of Uru¬
ultimately tap the Brazilian link
Buenos
Aires, Santa Fe, Cordoba and Entre Rios, but many
miles of road are projected, including a railway from
a
is in
same
some progress was
project
new
starting
mileage of about 3,600, and the Buenos Aires West¬
the
only
is
the
the lines then
the construction of extensions to existing
along the lines of least resistance, naturally,
the
for while
on
return of something over 4% on the in¬
shows the greatest
ern,
guay,
to
It needs only to be
construction work
The
referred to.
owing
progress
The most rapid growth of railways
a
vestment.
been
overcome
said in August 1912.
we
been made in
less than £198,902,829,
no
to
country, but adds nothing of moment
stated, therefore, that material
principally from Great
sources,
"
receiving
contour of the
of
the
products.
Mr. Reid, has no trunk-line sys¬
but there are nine different com¬
some
15 lines, most of them com¬
A number of the lines owe their
the impediments to navigation in
of the important
rivers of the country.
is stated to be true of the lines
This
from Cartagena to
Calamar, 65 miles, and from Sabanilla to Baranquilla,
15
miles, and others of even less mileage.
Up to the
present time about 20 miles of what is known as the
Great Northern Central
Ry. have been built.
This
line, starting at Puerto Wilches on the Magdalena
THE
848
River,
in
runs
a
CHRONICLE
The People of the
southeasterly direction and, accord¬
ing to plans, will ultimately reach Bogota,
do
of about 300 miles.
very
Section
fluctuations in, or combines
or
commenced in
was
construction
miles,
association,
being to furnish
Its
trative of the expense
an
outlet for the
actions
of railroad building in the
for
or
cop¬
conspires with
or
part of
any
or
an
other person
any
in, the market prices of
corporation, company or
issue of the stock, bonds
corporation, company
or
a
or
by
association, by
means
or
of
other fictitious trans¬
any
or on account of such person or
of any other person,
account of the persons so
on
combining or conspiring, whereby,
simultaneous change of ownership of or interest
evidences of debt, or of such issue or part of an issue
in part, a
or
thereof, is not effected, is guilty of a felony, punishable by a fine of not more
than $5,000 or by imprisonment for not more than two yeare, or by both.
A pretended purchase or sale of any such
try under review is the fact that the Grand Vene¬
miles apart,
a
in such stocks, bonds or
coun¬
RR., uniting Caracas and Valencia, about 112
issue
an
devices, for
or
of debt
zuela
of
or
either in whole
Illus¬
is only 2 feet.
gauge
or
or cause fluctuations
pretended purchases and sales thereof,
of its
purpose
inflate, depress
evidences of debt of
which work
upon
1873, the original
mines at Aroa.
per
110
persons to
the stocks, bonds or other evidences of debt of
/The oldest road in the country is the Boli¬
about
cause
or
enormous
which extends from the seaport of Tucacas to
Barquisimeto,
a new sec¬
follows:
as
953.
Manipulation of Prices of Securities .—Any person who
inflates, depresses, or causes fluctuations in, or attempts to inflate
depress
railroads, the topography of the country mili¬
expense.
0
tion, to be Section 953 thereof, to read
lightly supplied
tating against their construction except at
var,
State of New York, represented in Senate and Assembly,
follows:
by adding at the end
Venezuela, like Colombia, is
with
enact as
xcvii.
Section 1.
Article 86 of Chapter 88 of the Laws of
1900, entitled "An
Act providing for the punishment of
crime, constituting Chapter 40 of the
Consolidated Laws," is hereby amended
distance
a
[Vol.
whereby, in whole
or
stocks, bonds
or other evidences
in part, no simultaneous change of ownership
interest therein is effected shall be prima facie evidence of the violation
or
of this section by the person or
persons
taking part in the transaction of
such pretended purchase or sale.
has 86 tunnels and 212 bridges and via¬
Section 2.
This Act shall take effect immediately.
•
CHAPTER 475.
ducts, and is stated to have cost $80,000,000 to
construct.
An Act to amend the penal law in relation to false
representations con¬
cerning
/
securities.
Became
Ecuador is in the
category with Colombia and
same
law
a
The People of the
Venezuela in the difficulties to be surmounted and
do enact
the
attaching to
expense
road from
railroad building.
The
Guayaquil to Quito is only 290 miles long,
yet it takes two days to traverse the distance, the
first of which is spent
in reaching Riobamba
on
A
top of the Andes, 84 miles from the port.
ond line to the
Caraquez and
the
sec¬
capital is being built from the Bay of
of
the total, distance of 186 miles,
about one-third has been completed. Another road now
building is from Manta
southward toward
made for
a
line
in
surveys
have been
through the eastern provinces.
Paraguay, with
interested
the low costal plain
across
Guayaquil, and
opening
through Argentina
outlets for
up
Brazil.
or
its
products
That has been
accom¬
plished in part through the completion of the Para¬
guay
Central's
referred
we
extension
last
Northeastern Ry., which will furnish another outlet via
Sao
Paulo, Brazil, has been delayed.
This road is
projected to extend from Ascencion to Guayra Falls
and there connect with
Sao Paulo.
that
both
proposed Brazilian road to
a
Despite the delay,, it is
sections
will
now
estimated
be
finished in
1915.
progress
Iguazu Falls, where it is to meet the
Brazilian road under construction westward from the
port of San Francisco, Brazil, and in
it
a year or
expected the rails will join.
value
to facts
or as
of debt of
dition
807 miles
long, of which 186 miles will be in Paraguay.
affecting the financial condition of
THE NEW
eight
Exchange' went
were
STOCK EXCHANGE LAWS.
new
into
effect
on
September 1.
The
bills
by the New York Legis¬
lature at the instance of Gov. Sulzer.
They deal with the
following subjects:
" •
1.
»
Bucket shops.
\
3.
False representations
4.
Reporting
publishing fictitious transactions.
three years, or by both.
Section 2.
This Act shall take effect immediately.
CHAPTER 476.
hypothecation
o
securities.
Trading by brokers against customers' orders.
8.
Delivery to customers of memoranda of transactions by brokers.
to
prohibit the Stock Exchange from
preventing its members from dealing with members of other
exchanges is one of the two which have become effective this
week; the other is the
one
which requires brokers to give
tomers memoranda of transactions.
cus¬
Of the
eight bills, the
text of one, that relating to bucket
shops, has already been
published in these columns; it was printed in our issue of
May 24; the other bills
are as
Became
law May 9 1913, with the approval of the Governor.
a
The People of the State of New
do
enact as
Section 1.
CHAPTER
253.
public.
law April 10 1013, with the
approval of the Governor.
three-fifths being present.
a
Passed,
York, represented in Senate and Assembly,
follows:
>
Article 86 of Chapter 88 of the Laws of 1909, entitled "An Act
providing for the punishment of crime, constituting Chapter 40 of the Con¬
Laws," is hereby amended by adding at the end a new section,
to be Section 951 thereof, to read as follows:
solidated
Section 951.
Reporting
A person who, with
or,
Publishing Fictitious Transactions in Securities.
intent to deceive, reports
be reported or published, as a purchase or sale of
evidences
of debt
of
a
corporation,
action therein, whereby no actual
is
guilty of
more
company
or
associaton,
fine of not
a
or
any
other
trans¬
or
interest is effected,
more
than $5,000 or by
than two years, or by both.
•
This Act shall take effect immediately.
CHAPTER
An Act to amend the
or
or publishes, or causes to
the stocks, bonds
change of ownership
felony, punishable by
a
imprisonment for not
477.
penal law in relation to discriminations by exchanges
the members thereof.
Became
a
law May 9 1913, with the approval of the Governor.
three-fifths being present.
The People of the
do
enact
Passed,
•
State of New
York, represented in Senate and Assembly,
follows:
as
„
Article 40 of Chapter 88 of the Laws of 1909, entitled "An Act
providing for the punishment of crime, constituting Chapter 40 of the Con¬
solidated
Lq,ws," is hereby amended by adding at the end thereof a
tion, to be Section 444, to read
as
shall make
corporation,
trading in stocks, bonds
or
heretofore
or
or
hereafter formed
or to
other securities,
or
result of which shall be to forbid
or
others, facilities
in commodities,
enforce any by-law, rule, regulation, resolution
the purpose or
of such
new sec¬
follows:
Discriminations by Exchanges or Members.—No exchange,
organized, for the purpose of affording to its members,
or
agreement
or prevent the members
exchange, voluntary association or corporation from dealing, at
the regular rates of
commission, with
or
for the members of
change, voluntary association or corporation formed
or
agreement.
or
any other ex¬
organized for like
done by any
Passed,
Any Corporation violating
any of the foregoing pro¬
participating in the acts herein forbidden to be
exchange, voluntary association of corporation, and any mem¬
any
person
ber of any such exchange, voluntary association or corporation
refusing to
deal with or for any customer as above provided, on the ground that said
customer
is
a
member of some other exchange,
corporation of like character, is guilty of
a
voluntary association
misdemeanor.
or
This Act shall take effect September 1 1913.
Section 2.
CHAPTER
An Act to amend the penal
500.
law in relation to transactions by brokers
after insolvency and in the hypothecation of customers' securities.
Became
a
law May 14 1913, with the approval of the Governor.
Passed,
three-fifths being present.
The People of the
do
enact as
Section 1.
follows:
An Act to amend the penal law in relation to the
manipulation of prices
of securities and conspiring movements to deceive the
Became
'
-
three-fifths being present.
visions, and
7.
intended
'1
.
An Act to amend the penal law in relation to
reporting or publishing
fictitious transactions in securities.
lution
Discriminations by exchanges or members thereof.
Transactions by brokers after insolvency and the
bill
promise made in
any
5.
The
or
shall any such exchange, voluntary association or corporation
penalize or discipline or attempt to penalize or discipline its members, or
of them, for an infraction of any such by-law, rule, regulation, reso¬
•
concerning securities.
6.
customers'
material representation, prediction
purposes, nor
2. Manipulation.
or
con¬
com¬
advertisement is false, is guilty of a felony, punishable
by a fine of not more than $5,000 or by imprisonment for not more than
for dealing or
all enacted the present year
the financial
corporation,
any
or
voluntary association or
laws affecting the New York Stock
or other evidences
as to
ground
to believe, that any
such statement
Section 444.
Two of the
affecting the value of the stocks, bonds
corporation, company or association, or
a
of facts
pany or association which has issued, is issuing or is about to issue stocks,
bonds or other evidences of debt, and who knows, or has reasonable
two
The line will be
follows:
as
952.
False Statement or Advertisement as to
Securities—Any
who, with intent to deceive, makes, issues or publishes, or causes
to be made, issued or published,any statement or advertisement as to the
Section 1.
is
thereof, to read
Section
The
in building
York, represented in Senate and Assembly,
person,
Section 2.
Trans-Paraguay Ry. is making
eastward toward
to be Section 952
to
Ascencion, to which
August.Work on th^ Paraguay
'
State of New
follows:
as
Section 1.
Article 86 of Chapter 88 of the laws of 1909, entitled "An Act
providing for the punishment of crime, constituting Chapter 40 of the Con¬
solidated Laws," is hereby amended by adding at the end a new
section,
.
seaports of its own, is vitally
no
May 9 1913, with the approval of the Governor. Passed,
three-fifths being present.
State of New York, represented in Senate
and Assembly,
follows:
Article 86 of Chapter 88 of the Laws of 1909, entitled "An Act
providing for the punishment of crime, constituting Chapter 40 of the Con¬
solidated Laws," is hereby amended by adding at the end thereof two new
sections, to be Sections 955 and 956, to read
Section 955.
as
follows:
-
Transactions by Brokers after Insolvency.—A
person engaged
in the business of purchasing and selling as broker, stocks, bonds or other
evidences of debt of corporations, companies or associations who, knowing
at he ia insolvent, accepts or
broker's
insolvency,
receives from
a customer
ignorant of such
bonds or other evidences of debt
stocks,
money,
of, or as security
thereby causes the customer to lose
belonging to the customer otherwise than in liquidation
for, an existing indebtedness, and who
in whole
is
stocks, bonds or other evidences of debt,
In part such money,
or
guilty of
felony punishable by a fine of not more than
a
$5,000 or by
imprisonment for not more than two years, or by both.
A person shall be
deemed insolvent within the meaning of this section whenever the aggregate
shall not, at a fair valuation, be sufficient in amount to
of his property
his debts.
pay
and selling as a broker stocks,
companies or associations, who,
evidences of debt of corporations,
otherwise, stocks, bonds
corporation, company or association belong¬
Having in his possession, for safekeeping or
1.
or
engaged
bonds or other
Hypothecation of Customers' Securities.—A person
Section 956.
in the business of purchasing
other evidences of debt of
a
special property
customer's consent; or,
2. Having in his possession stocks, bonds or other evidences of debt
of a corporation, company or association belonging to a customer on which
ing to
customer, without having any lien thereon or any
a
therein, pledges or disposes thereof without such
he has
thereof
and without having
subject to his control, stocks, bonds or other evidences
and amount to which the customer is then entitled, for
him thereon, or otherwise disposes
for more than the amount due to
for his
in his
the customer, pledges the same
lien for indebtedness due to him by
a
benefit, without the customer's consent,
own
possession or
of debt of the kind
therefor and tender of the amount due
thereon, and thereby causes the customer to lose, in whole or in part, such
stocks, bonds or other evidences of debt, or the value thereof,
Is guilty of a felony, punishable by a fine of not more than $5,000 or by
imprisonment for not more than two years, or by both.
Every member of a firm of brokers, who either does, or consents or assents
to the doing of any act which by the provisions of this or, the last preceding
section is made a felony, shall be guilty thereof.
Section 2.
This Act shall take effect immediately.
delivery to him upon his demand
CHAPTER 592.
.
An Act to amend the
customers'
Became
penal law in relation to trading by brokers
against
orders.
a
law May 17 1913, with the
approval of the Governor. Passed,
three-fifths being present.
in Senate and Assembly,
People of the Slate of New York, represented
The
do
enact
Article 86 of Chapter 88 of the Laws
Section' 1.
providing for
of 1909, entitled ' 'An Act
the punishment of crime, constituting Chapter 40 of the Con¬
by adding at the end a new section,
solidated Laws," is hereby amended
to be Section 954
thereof, to read as follows:
who, being employed by a customer to
bonds
or
other evidences of debt of a
such stocks, bonds or
kind or issue
other evidences of debt of such corporation, company
or association, with intent to trade against the customers' order, or, who,
being employed by a customer to sell the stocks, bonds or other evidences
of debt of Si corporation, company cr association, while acting as broker
for such customer in respect to the sale of such stocks, bonds or other evi¬
dences of debt, purchases for his own account the same kind or issue of
stocks, bonds or other evidences of debt of such corporation, company or
association, with intent to trade against the customers' order, is guilty of
a felony, punishable by a fine of not more than $5,000 or by imprisonment
for not more than one year, or by both.
Every member of a firm of brokers
who either does, or consents or assents to the doing of, any act which by
the provisions, of this section is made a felony, shall be guilty of a violation
while acting as broker
for such customer in respect of
his own account the same
other evidences of debt, sells for
of stocks, bonds or
thereof.
'
,
.
This Act shall take effect
Section 2.
the penal law in relation to the
An Act to amend
delivery to customers
17 1913, with the approval of the
Governor. Passed,
represented in Senate and Assembly,
People of the Slate of New York,
follows:
enact as
do
'Article 86 of Chapter 88 of the Laws
Section 1.
of 1909, entitled "An Act
providing for the punishment of crime, constituting Chapter 40 of the Con¬
amended by adding at the end thereof a new sec¬
solidated Laws," is hereby
read as follows:
Delivery to Customers of Memoranda of Transactions by
tion, to be Section 957, to
Section
957.
Brokers.—A
brokers
selling as
of debt of corporations, com¬
engaged in the business or purchasing or
person
stocks, bonds and other evidences
deliver to each customer on whose behalf a
is made by him a statement or memoran¬
dum of such purchase or sale, a description of the securities purchased or
sold, the name of the person, firm or corporation from whom such securities
were purchased, or to which the same were sold-, and the day and the hours
between which the transaction took place.
A broker who refuses to deliver
such statement or memorandum to a customer within twenty-four hours
after a written demand therefor, or who delivers a statement or memoran¬
dum which is false in any material respect, is guilty of a misdemeanor,
panies or associations shall
purchase or sale of such securities
punishable by
than
one
a
year,
Section 2.
fine of not more than $500 or
or
'.
is. 2517.]
,
providing for mediation, conciliation and arbitration in contro¬
An Act
employers and their employees.
versies between certain
Be it enacted by the Senate
and House of Representatives of the United States
assembled. That the provisions of this Act shall apply
common carrier or carriers and their officers, agents and employees,
masters of vessels and seamen, as defined in Section 4612, Revised
of America in Congress
to any
except
United States, engaged in the transportation of passengers
Statutes of the
property wholly by railroad, or
or
for
continuous carriage or
a
United States or the
the District of Columbia, or from any place in the
of the United States or
United States to an adjacent
States through a
foreign country, or from any place in the United
foreign country to any other place in the
United States.
used in this Act shall include all bridges and ferries
The term "railroad" as
used
partly .by railroad and partly by water,
shipment from one State or Territory of the
District of Columbia to any other State or Territory
operated in connection with any railroad, and also
or
all the road in
operating a railroad, whether owned or operated
under a contract, agreement or lease; and the term "transportation" shall
include all instrumentalities of shipment or carriage.
The term "employees" as used in this Act shall include all persons ac¬
by any corporation
use
capacity in train operation or train service of any
tually engaged in any
that the cars upon or in which they are
by the carrier under lease or other con¬
tract: provided, however, That this Act shall not be held to apply to em¬
ployees of street railroads and shall apply only to employees engaged in
railroad train service.
In every such case the carrier shaU be responsible
for the acts and defaults of such employees in the same manner and to the
same extent as if said cars were owned by it and said employees directly
description, and notwithstanding
employed may be held and operated
employed by it, and any provisions to the contrary of any such lease or
binding only as between the parties thereto and shall
other contract shall be
obligations of said carrier either to the
public or to the private
parties concerned.
A
carrier subject to the provisions
common
referred to as an "employer." and
That whenever a
"employees,"
.
_
controversy concerning wages, hours of labor
conditions of employment
shall arise between an employer or employers
Sec. 2.
or
of this Act ia hereinafter
the employees of one or more of such
hereinafter referred to as
are
this Act interrupting or threatening to interrupt
business of said employer or employers, to the serious detriment of the
and employees subject to
the
public interest, either party to such controversy may apply to the Board
of Mediation and Conciliation created by this Act and invoke its services
of bringing about an amicable adjustment
for the purpose
and upon the request
of the controversy;
of either party, the said Board shall, with all
practicable
the parties to such controversy
and shall use its best efforts, by mediation and conciliation, to bring them to
an agreement; and if such efforts to bring about an amicable adjustment
through mediation and conciliation shall be unsuccessful, the said Board
expedition, put itself in communication with
shall at once endeavor to induce the
to arbitration in
with serious detriment to the public
Conciliation
parties to submit their controversy
accordance with the provisions of this Act.
in which an interruption of traffic is
In any case
may,
which
a
controversy arises over the
to the
»
meaning or the appli¬
through mediation under the provisions
Mediation and Conciliation for an expression of
as
proffer
respective parties to the controversy.
either party to the said agreement may
of this Act,
imminent and fraught
interest, the Board of Mediation and
if in its judgment such action seem desirable,
apply to the Board of
opinion from such Board
meaning or application of such agreement and the
said Board shall,
receipt of such request, give its opinion as soon as may be practicable.
Sec. 3.
That whenever a controversy shall arise between an employer
upon
three-fifths being present.
The
;
law:
new
In any case in
of transactions by brokers.
Became a law May
of the
cation of any agreement reached
593.
We furnish below the text
days after the hearings begin.
immediately,
CHAPTER
of memoranda
required to render its award within forty-five
its services to the
;•
Mr. Low ia Chairman.
College of the City of New York.
The board is
carriers
buy and carry upon margin the stocks
corporation, company or association,
member® necessary to
complete the board, Seth Low, President, of the, National
Civic Federation, and John H. Finley, President of the
Customers' Orders.—A broker,
Trading by Brokers against
Section 954.
These four selected, as the two other
not affect the
follows:
as
849
CHRONICLE
THE
Sept. 27 1913.]
both.
imprisonment for not more
-
e
This Act shall take effect
.
employers and employees subject to this Act,
or
through mediation and conciliation in the manner
of six, or,
of three persons,
In the
of
case
a
which board shall be chosen in the following manner:
employers and the employees,
board of three,the employer or
arbitrate, shall each name one
chosen shall select the third arbi¬
parties respectively to the agreement to
arbitrator; and the two arbitrators thus
trator; but in
the event of their failure to name the third arbitrator within
their first meeting, such third arbitrator shall be named by
Conciliation.
In the case of a board of six,
five days after
the Board of Mediation and
the
employer or employers and the employees, parties respectively to the
to arbitrate, shall each name two arbitrators, and the four
vote, select the remaining two
agreement
arbitrators thus chosen shall, by a majority
arbitrators; but in the event of their
within fifteen days after their first
many
failure to name the two arbitrators
meeting, the said two arbitrators, or as f
of them as have not been named,
shall be named by the Board of
Mediation and Conciliation.
»•
In the event that the employees
not members of a labor
September 1 1913.
which can not be settled
provided in the preceding
the arbitration-of a board
if the parties to the controversy prefer so to stipulate, to a board
section, such controversy may be submitted to
mittee which shall have
engaged In any given controversy are
organization, such employees may
the right to
name
select a com¬
the arbitrator, or the arbitrators,
provided above in this section.
agreement to arbitrate—
who are to be named by the employees as
TEXT OF
THE AMENDED
ERDMAN
at the Hotel
new
law amending the
the arbitration board of six.
of
the
before
July 15
Manhattan, this city, since the 11th inst.,
primarily with
a
The law was enacted on
view to supplying
differences
between
the
a
roads and
their
the
disputing parties, W. W. Atterbury, Vice-President of the
Pennsylvania RR., and A. H. Smith, Senior Vice-President
employees.
Under the arbitration agreement signed by
named as the two arbi¬
trators to represent the railroads, while Lucius E. Sheppard,
Senior Vice-President of the Order of Railway Conductors,
of the New York Central
RR.,
were
Trainman,"
were
delegated
to
editor of "The Railway
represent
the employees.
writing;
the arbitration is had under the provisions
Shall state whether the board
Third.
or
of arbitration is to consist of three
six members;
Shall be signed by duly
Fourth.
accredited representatives of the em¬
employees:
Fifth. Shall state specifically the questions to be submitted to the said
ployer or employers and of the
board
to
decision.
for
Sixth.
Shall stipulate that a
make
a
Seventh.
vaild and
Shall fix
a
majority of said board shall be competent
binding award.
period from the date of the appointment of the arbi¬
trator or arbitrators necessary
the agreement,
to complete the board, as
provided for in
within which the said board shall commence its hearings.
Shall fix a period from the beginning of
which the said board shall make and file its award;
Eighth.
the hearings within
Provided, That this
different period be agreed to.
provide for the date from which the award shall become
period shall be thirty days unless a
Ninth.
Shall
effective and shall fix the
in
and Daniel L. Cease of Cleveland,
be in
Shall stipulate that
of this Act;
basis for the adjustment
Eastern
Shall
Second.
so-called Erdman Arbi¬
tration Act, hearings on the wage demands of the conductors
and trainmen of the Eastern railroads have been in progress
Under the
That the
Sec. 4.
First.
ARBITRATION ACT.
force.
Tenth.
period during which the said award shah continue
»
Shall provide that the respective
faithfully execute the same.
parties to the award will each
850
THE
CHRONICLE
Eleventh. Shall provide that the award and the
papers and proceedings,
Sec.
9.
[Vol.
xcvii.
That whenever receivers
appointed by a Federal court are in
and control of the business of employers covered by this
including the testimony relating thereto, certified under the hands of the
the possession
arbitrators, and which shall have the force and effect of a bill of exceptions,
Shall be filed in the clerk's office of the district court of the United States
Act
for the district wherein the
controversy arises or the arbitration is entered
terms and conditions of their
the
employees of such
employers shall have the right to be heard
through their representatives in such court upon all questions affecting the
employment; and
reduction of
no
wages
shall
into, and shall be final and conclusive upon the parties to the agreement
be made by such
Unless set aside for
after notice to such
employees, said notice to be given not less than twenty
of law
error
apparent
Twelfth. May also provide that
any
the application of the provisions of
or
tration shall be referred back to the
such board for
the original award;
or
unwilling to
such
the record.
difference arising
an
board
same
the meaning
as to
award made by a
board of arbi¬
of
to a sub-committee
or
ruling, which ruling shall have the
a
as
as
on
same
force and effect
original member
named.
was
days before the hearing upon the receivers' petition
application, and to
or
•
Sec.
the
10.
That each member of the Board of Arbitration created under
provisions of this
fixed
Sec. 5.
of the court therefor,
be posted upon all customary bulletin boards
along or upon the railway or
in the customary places
upon the premises of other employers covered by
this Act.
•';> ■
•
77'
and if any member of the original board is unable
serve, another arbitrator shall be named in the same manner
receivers without the authority
by
the
Board
Act
of
shall
receive
Mediation
and
such
compensation
Conciliation,
as
together
be
may
with
his
That for the purposes of this Act the arbitrators herein provided
for, or either of them, shall have power to administer oaths and affirma¬
thereof
tions, sign subpoenas, require the attendance and testimony of witnesses,
and the production of such books,
papers, contracts,
agreements and
•
June 30 1914, for the necessary and
proper expenses incurred in connection
documents material to
gation
a
just determination of the matters under investi¬
be ordered by the
as may
and may invoke the aid of
court;
the
United States courts to compel witnesses to attend and testify and to pro¬
duce such books, papers, contracts, agreements and documents to the
extent and under the
same
conditions and penalties as is provided
same
for in the Act to Regulate Commerce, approved February 4 1887, and the
amendments thereto.
Sec.
That
6.
every
of arbitration
agreement
under
this
shall
Act
be
traveling and other
member
a
which
are
a notary public or a clerk of
the circuit court of appeals of the United States, or before
or
of the Board of Mediation
and
the members of
Conciliation,
hereby authorized to take such acknowledgments;
acknowledged shall be delivered to
member of said Board
a
and when
so
transmitted
or
to said Board to be filed in its office.
When such agreement of arbitration has been filed with the said Board,
or one
of its members, and when the
been furnished the
to the
•
names
saidlBoard,
controversy, the Board,
or
member thereof, has
or a
of the arbitrators chosen by
the respective parties
member thereof, shall cause a notice
a
with any arbitration or with the
carrying on of the work of mediation and
conciliation, including
of members or
of
appointment, requesting them to meet promptly to
or
arbitrators
the remaining
name
to complete the Board, and advising
necessary
them of the period within which, as provided in the agreement of arbitra¬
tion, they are empowered to
When
the
arbitrators
name
selected
the remaining arbitrator
upon
such arbitrator
by
or
'
arbitrators.
diem,
per
traveling and other necessary
employees of boards of arbitration, and
expenses
rent in the District
Columbia, furniture, office fixtures and supplies, books, salaries, travel¬
ing
expenses
and other necessary expenses of
the Board of Mediation and Conciliation,
man of said Board and audited
by the
members
or
employees of
to be approved by the chair¬
accounting officers of the
proper
Treasury.
Sec.
11.
There shall be
Commissioner of Mediation and Conciliation,
a
whb shall be appointed by the
President, by and with the advice and con¬
sent of the
Senate, and whose salary shall be $7,500
hold his office for
term of
a
seven
who shall
per annum,
and until his
years
successor
qualifies,
and who shall be removable by the President
only for misconduct in office.
The President shall also designate not more than two other officials of the
Government who have been appointed by and with the advice and consent
of the Senate,
and the officials thus designated, together with the Com¬
missioner of Mediation
known
In writing to be served upon the said arbitrators, notifying them of their
arbitrator
of $25,000, or so much
sum
as may be
necessary, is hereby appropriated, to be immediately
available and to continue available until the close of the fiscal
year ending
acknowledged by the parties thereto before
the district
The
necessary expenses.
and
Conciliation, shall constitute
a
board
to
be
the United States Board of Mediation and Conciliation.
as
There shall also be
an
Assistant Commissioner of Mediation and Concilia¬
tion, who shall be appointed by the President, by and with the adyice and
consent of the
Senate, and whose salary shall be $5,000
per
In
annum.
the absence of the Commissioner of Mediation and Conciliation, or when
that office shall become vacant, the Assistant Commissioner shall exercise
the respective parties have "agreed
the functions and perform the duties of that office.
Under the direction
arbitrators, they shall notify the Board
of the Commissioner of Mediation and Conciliation, the Assistant Commis¬
and in the event of their failure to agree
upon any or upon
sioner shall assist in the work of mediation and conciliation and when acting
alone in any case he shall have the right to take acknowledgements, re¬
of Mediation and Conciliation of the arbitrators selected, if any, or of their
failure to make or to complete such selection.
'
•
by the arbitrators chosen by the respective parites to the controversy,
or
of Mediation and Conciliation;
all of the necessary arbitrators within the period fixed
by this Act, they shall, at the expiration of such period, notify the Board
'
ceive agreements of arbitration, and cause the notices in writing to be served
controversy arising over the meaning or application of
upon any
they shall jointly
so
an
award,
notify the Board of Mediation and Conciliation, and
shall state in such written notice the question or questions to be submitted
such re-cpnvened board.
to
The
or
a
and
,
arrange
1
1898, relating to the mediation and arbitration' of
controversies'between railway companies and certain classes of their
ployees is hereby repealed:
Provided, That
em¬
agreement of arbitration
any
in accordance with the provisions of said Act of June 1 1898, shall be gov¬
sub-committee of such Board appointed for such
purpose
pursuant to the provisions of the agreement of arbitration
The Act of June
which, at the time of the passage of this Act, shall have been executed
Board of Mediation and Conciliation
shall thereupon promptly communicate with the members of the Board of
Arbitration
as
provided for in Sec. 5 of this Act.
If the parties to an arbitration desire the re-convening7of a'board to
pass
erned by the provisions of said Act of June
11898, and the proceedings there¬
under shall be conducted in accordance with the provisions of said Act.
for
Approved, July 15 1913.
the
re-convening of said board or sub-committee, and shall notify the
respective parties to the controversy of the time and place at which the
BANKING,
Board will meet for hearings upon the matters in controversy to be sub¬
mitted to it.
,
.
Sec. 7.
That the board
of
arbitration shall organize and select Its
chairman and make all necessary rules for conducting its hearings;
its award
or
mendations
directly bearing thereon.
under oath
All testimony before said
affirmation, and
or
any
assistants
whenever
as
may
or
affirmations.
be necessary in carrying
of
adjourn for its deliberations.
any
The board
arbitration
It may employ
its work.
practicable, be supplied With suitable quarters in
building located at its place of meeting or at
may
on
shares, of which 180 shares
and 41
sold.
It shall,
any
Federal
place where the
a
*
into, to
be filed in
said
eleven of Section 4 of this Act.
clerk's
office
provided in paragraph
as
And said board shall also furnish
a
certifed
Sold at the Stock
the
of
tendered
his
Allen
July 1912.
United States Commerce Court,
The
the Inter-State Commerce Com¬
mission and the Bureau of Labor Statistics
over
to
the
"7.
Board of Mediation
and
are
hereby authorized to turn
Conciliation upon
its request,
proved June 1 1898, providing for mediation and arbitration.
That
the award,
being filed in the clerk's office of
district
court of the United States as hereinbefore
provided, shall go into practical
operation, and judgment shall be entered thereon accordingly at the ex¬
piration of ten days from such filing, unless within such ten days either
party shall file exceptions thereto for matter of law apparent upon the rec¬
ord, in which case said award shall go into practical operation, and judg¬
ment be entered
accordingly
when such exceptions shall have been finally
or on appeal therefrom.
disposed of either by said district court
At the
upon
as
High.
Close.
192
192
Sept.
aforesaid, judgment shall be entered
310
310
Aug. 1913— 310
320
320
May 1912— 3513^
Exchange.
to
succeed
nominated by Presi¬
was
Sherman
P.
Mr. Newton is private
as
is
understanding and consideration of the questions
of law presented by said exceptions and to be decided.
The determination of said
be final,
and,
circuit court of appeals upon said
questions
being certified by the clerk thereof
to
said
district
court, judgment pursuant thereto shall thereupon be entered by said disi
trict court.
If exceptions to an award are
finally sustained, judgment shall be entered
setting aside the award in whole
,
agree upon a
or
in part; but in such
case
the parties may
judgment to be entered disposing of the subject
controversy, which judgment, when entered, shall have the
effect as judgment entered upon an award.
matter of the
same
•
Nothing in this Act contained shall be construed to require
force and
„
an
employee
to render personal service without his consent, and no injunction or
other
legal
shall be issued which shall compel the performance by
anj>>
'Amoloyee against his will of a contract for personal labor or service.
process
has
who
Mr.
secretary to Secretary
An
important development this week has been the action
to the
of
ing
Clearing-House Association with reference
pending Banking and Currency Bill.
the Clearing-House Committee
afternoon, Sept, 237
At this meeting
a
A special meet¬
was
heldTuesday
committee
was
ap¬
pointed to consider the bill as it passed the House of Repre¬
sentatives.
This is the first formal step taken by the Clear¬
ing House concerning the bill.
The committee just
the
appointed will undertake to determine
probable working of the measure.
its purpose to oppose or
shall
Secretary
Allen,
McAdoo.
such portion of the record shall be transmitted to the appellate court
proper
Assistant
an
Chairman of the Committee, Frank A.
only
the
1913—180
310
in accordance with said decision, unless during said ten days either
party
shall appeal therefrom to the circuit court of appeals.
In such case
; necessary to
Last previous sale.
320
the 25th inst. to be
of the New York
expiration of ten days from the decision of the district court
exceptions taken to said award
sales of 170 shares.
appointed to the post by ex-President Taft in
was
f
a
on
any
and documents heretofore filed with them and bearing upon media¬
tion or arbitration proceedings held under the provisions of the Act
ap¬
8.
sold at the Stock Exchange
resignation, to take effect October 1.
of the Treasury
papers
Sec.
on
Treasury
of its award, and the papers and proceedings, including the testimony
relating thereto, to theJBoard of Mediation and Conciliation, to be filed
.
NEWS.
No trust company,stocks were
Byron R. Newton of New York
dent Wilson
In its office.
copy
were
181
41 Manhattan Co., Bank of the
proceedings
transcript of the testimony taken at the hearings, certified under the
entered
FINANCIAL
Low.
*10 Corn Exchange Bank
board
to the clerk of the district court of the United
points to 192
*170 Commerce, Nat. Bank, of
of arbitration shall furnish
States for the district wherein the controversy arose or the arbitration is
AND
quotation for National Bank of Commerce stock
12
BANKS—New York.
Shares,
certified copy of its award to the respective parties to the
controversy,
and shall transmit the original, together with the papers and
bands of the arbitrators,
The
advanced
a
and
shares at auction.
board shall be given
member of the board
shall have the power to administer oaths
such
but in
awards the said Board shall confine itself to findings or recom¬
as
to the questions specifically submitted to it or matters
LEGISLATIVE
The public sales of bank stocks this week, aggregate 221
.
own
if it
were
a
According to the
Vanderlip, it is
criticize the bill, but to
not
treat it
as
law and carefully examine its provisions to de¬
termine, in particular,
its possible effect
on
the
business
Those serving with Mr. Vanderlip
A. Barton Hepburn, Chairman of the
interests of the country.
on
the committee are
board
of
the
Chase
National
Bank;
Alexander
Gilbert,
President of the Market & Fulton National Bank; Edward
Townsend, President of the Importers' & Traders' National
Bank; William A- Nash, Chairman of the board of the Corn
Exchange National Bank, and Otto T. Bannard, President
of the New York
Trust Co.
has been called upon to
Each member of the committee
study
some
particular portion of the
SEPT. 27
bill.
of the committee will be presented at
The findings
the annual
meeting of the Association
bill
the subject of
was
a
joint conference
of the Council of Administration and the Banking and Cur¬
Committee of the New York State Bankers' Associa¬
rency
that
point
to
could
they
5%
earn
on
Bank
as
Building, resulted in the appointment of
mittee, which is to draft
a
report on the bill embodying the
views of those in attendance at the conference.
Albany,
He is also
Chairman of the meeting.
was
James H.
Commercial Bank of
President of the National
Perkins,
sub-com¬
a
of the sub-committee, which otherwise
a
member
consists of Robert H.
Ithaca;
Willard
V.
Knickerbocker Trust Co., and Pierre
good deal of
which
developed, following the challenging of that state¬
By Senator Bristow, Senator Owen gave it as his
opinion that most of the objections of the country bankers
ment
had
been
Mr.
inspired by the large city institutions.
Untermyer suggested
Senate
on
powers
conferred
hearings
The likelihood of
dissipated
was
made by Senator
the
hearings
on
on
early termination of these
an
Monday when
Shafroth to obtain
attempt
an
an agreement to
was
national banks by the bill.
on
long-term securities as
a
he said,
His motion met with
Saturday, October 4.
denced his opposition to
that "on
our
a
hastening the proceedings, declaring
question of this kind, which involves the
hear those authorities on" the
to offer.
I
am
life
subject who have suggestions
not in. favor of any
We have lived for many years
That .the
very
stay here long enough to
certainly
commerce, we can
rush action
this bill.
on
under the present system."
hearings will tend to prevent the presentation of
a
unscientific."
and
sound
.
basis for
a
as a currency
Mr.
He declared
Even
currency.
basis,
"un¬
were
Untermyer criticised vigor¬
ously the provisions outlining the character of commercial
to be used as a basis for currency, declaring that the
paper
definition
On
close
support from the other members and Senator Reed evi¬
no
of
bill before the
currency
Banking and Currency Committee have continued
,this week.
amendment to restrict the
Jay, Vice-President of
against
the banking and
an
of State banks entering the system to conform to the
Government bonds,
hearings
Untermyer defined
a
powers
the Bank of the Manhattan Co.
The
Mr.
in
equitable
an
Columbia-
President of the
King,
capital.
upon
humbug" the plea of hardship resting
the country bank under the bill, and in the argument
on
Treman, President of the Tompkins County National Bank
of
"a
this
of
two-thirds
basis
under
the capital invested
regional bank, and could borrow back
Thursday.
on
benefits
the
out
the country banks, ,Mr. Untermyer contended
bill to
the
seeking
In
purposes.
The meeting, w^iich was held in the
offices of the American Bankers' Association, in the Hanover
tion
situation
a
Board, by fixing the discount
rate, could bring about a period of easy money for political
♦
The currency
"vivid Oriental imagination" he could conceive of
in which the Federal Reserve
Oct. 7.
on
851
CHRONICLE
THE
1913.]
"hopelessly loose."
was
Tuesday during Mr. Untermyer's examination,
plete revision of the framework of tho
posed by Senators Reed, Hitchcock
scheme of
paper,
reserve
backed by
a
banks and substitute
individual banks
50% gold
reserve, up
tal stock of each individual bank.
tion to the
Bristow.
Senator
eliminate from the proposed system the entire
regional
issue of currency to
ment
and
com¬
was pro¬
what he called the Hitchcock plan, which
Reed advanced
would entirely
bill
currency
Govern¬
a
commercial
on
to 75% of the capi¬
That would be in addi¬
present bank note issue.
Mr. Untermyer
report by the Committee by October 6, in accordance with
posed the Hitchcock plan
the
the Government for the issue of currency.
expectations of Chairman Owen,
October
been fixed
had
6
as
likely.
seems
the date when it
was
report would be available, as appears by the subjoined
a
The passage of the
banking and
currency
at
length in the House itself argues
Senate.
bill by the House of Repre¬
Democratic
caucus and
prompt and favorable
discussion
urgency
for
It has been six years since we had the gigantic calamity
the panic of 1907 which led to the creation of the Monetary Commissicn
its proposed
the
remedy, upon which the Government expended
out of
public treasury nearly $300,000.
The
retiring Administration, through Franklin MacV eagh and his annual
report of September 2 1912, declared that the most important fact in
the extreme
tition of the
of protecting
necessity
this country against
a
repe¬
frightful'catastrophe of 1907.
Senate, urging them to lay aside their personal comforts and conveniences
The House bill
purpose
was
of giving
an
spirit.
passed yesterday and the Senate recessed for the express
opportunity to have this bill reach the Senate and be
immediately referred to the committee.
I have
no
no
doubt that the Senate will be able to make
some
i
improvements in it.
The members of the Banking and Currency Committee of the Senate have
been diligently studying this question and are quite well prepared to deal
with
the
questions
involved.
who,
as
Monday when
we
counsel, drafted the Pujo report.
I hope to see a report on the
which will be required.
bill within
two weeks of next Monday, but,
Tuesday of this week and will again
Monday for
a
the
on
appear
both Monday
before it next
final hearing.
While he declared himself
of
precision the time
"
Mr, Untermyer was before the Committee
and
com¬
fundamental
as
"an
unqualified champion'0'
principles of the bill, he considers it
amenable to amendment.
In set ting'out
his views with
I wish it understood that I
on
am an
unqualified champion of the principles
which this bill is based, that is, an asset
currency, issued
banks
as
from
a
through the
Government obligation and under the control of the Govern¬
But I believe the bill is over-generous to the bankers in
freeing them
ment.
criticised
adversely the provisions allowing bankers
to deal in acceptances given for the
exportation or importa¬
tion of goods, and described this as discrimination
against
domestic
business, contending that it would make money
men in foreign trade than to domestic merchants.
cheaper to
Mr.
Untermyer also stated that the bill guaranteed to the
banks entering the Federal
the
reserve
system
banking business of the country.
he said, "the bill is more generous than
in
the world J'
Mr.
a
monopoly of
"In that respect,"
any
banking system
Untermyer stated that by using his
brief
a
banks from twelve
reserve
resources
out¬
num¬
to
six,
of each; criticised the
reserve
on
the
Gov¬
notes
re¬
he also declared that the Government
should not collect interest
banks to do
its
on
deposits with the
reserve
savings account business.
a
Breckinridge Jones, President of the Mississippi Valley
Trust Co. of St. Louis, discussed the bill from the view
of the State banks and trust
companies and urged
Mr. Jones "believes the
erly
not, hamper
perfected,
would
a
bill, if
independent
point
number
prop¬
banking
and would
He
improve and broaden general banking conditions.
thought it should be made sufficiently attractive to bring
State banks and trust
E. D.
companies into the system-
Hulbert, Vice-President of the Merchants' Loan &
Trust Co. of
Chicago, and Prof. Irving Fisher of Yale, were
wrere given a hearing on Thursday. • Mr.
Hulbert argued for the elimination from the bill the words
those who
"or lawful money,"
Government
of
as
applied to the redemption by the
Federal
reserve
notes.
According to
the
New York
"Sun", Mr. Hulbert is opposed to the expression
it
throws the redemption of such lawful money
because
back
on
the
Treasury Department with the. obligation on the
an indefinite and
Treasury to produce gold, whereas it is
indeterminate
reference
to
thing that is meant by "lawful money" with
the
redemption."
Professor Fisher advanced
the
to
opinion that at least half the high cost of living is due
the inflation of bank credit through checking accounts and
he expressed the fear that
additional
complication.
He
submitted
He suggested reducing the
banks, and vigorously condemned the plan to allow national
re¬
gard to it, he said:
passage
embodied in the pend¬
Obligations and urged that the notes should be
deemed solely in gold;
among
of course, it is difficult in the extreme to forecast with
■
The full
shall hear Mr. Samuel Unter-
by the Com¬
provide for representation of bankers
Y
Senate committee is giving the matter daily consideration.
myer,
as
board; opposed making Federal
ernment
The Senate hearings have already taken over 500 printed pages and the
mittee will be present on
far
of minor amendments.
doubt that the Senate committee will give the bill the most
vigorous and virile attention, and, subjecting it to the closest scutiny,
have
so
Association,
strengthen the
bill's failure to
perform this great duty so urgently needed by the country, and the
Senate and House have responded in a very patriotic
Men's
proposed Federal
in order to
con¬
The President of the United- States appealed in person to the House and
and
ber of
J
heard
On Wednesday J. II. Trego, Secretary of the Na¬
Credit
reserve
nection with the banking and currency legislation ivas its urgency, empha¬
sizing
legislation, at least
lining proposed changes.
v
Every student of this question will agree on the necessity and
and
ing bill.
tional
men were
Tuesday, all of them urging delay in the
on
action in the
g
prompt action.
ia
mittee
of currency
statement, issued by Chairman Owen on the 19th inst.:
sentatives after weeks of debates in the.
Several Minnesota business
hoped
op¬
not offering enough security to
as
its failure to
silver
currency, as
certificates
bringing about
The
the issuance of $500,000,000 of
provided for in the bill, and
provide for the withdrawal of greenbacks and
reserve
a
"Journal
would
correspondingly
still further advance in the
of
Commerce"
reports
expand
cost of
credit,
living.
that the following
telegram from Secretary T. H. Dickson of the Mississippi
Bankers' Association, expressing opposition to one of the
provisions of the bill,
on
was
inserted in the Senate proceedings
the 25th:
The
Executive
Committee
of the
Mississippi Bankers* Association In
session to-day has unanimously adopted a resolution
urging you to use all
effort and influence to have removed from the Federal Reserve Act
that
pcovisiom wttcb contemplates enforcing
par
footing, we
remittance of individual checks
On the 22d
was
offered by Representative Howard in the
of Representatives.
his
'
House
issued by
be sold in
3%.
Such
an
at a minimum rata of
sired, to wit,
wholesale, and if this Is done we can accumulate
The inferences of Secretary
Federal Reserve
currency
bill
We all agree that we are badly
men.
and currency legislation,
lation if
his address which will appea
in need of banking
Bryan made many good points in
fair-minded
and the bankers generally will welcome
bill is submitted which is workable
a
banking and commercial pursuits of the
ment that the
based
Secretary Bryan's state¬
endeavoring by their
nation.
the proposed Federal Reserve Board is not a
authorized to act for
fuliy
is
of the American
the Association in
bill was brought
The Currency Commission
fact.
on
Association
Bankers'
matters of this
under which the Government has absolute control of the Federal
reserve banks, the bankers generally have asked only for a minority repreThe bankers in all their suggestions and
sentation.
heartily supported the Administration measure
recommendations have
when it comes to supervision
of the banks and most radical examinations.
"The Secretary
bill the national banks
eventually compelled to put up 20% of their capital,
and with this capital invested
in the Federal reserve banks, they will not
representation, and can have nothing whatever to say as to
agement of their money under the
the man¬
Federal Reserve Board as constituted in
the Glass bill.
"The Secretary also made
of the country that were
the statement that it was only the large banks
opposed to the Glass bill.
Secretary, what of the Chicago
This
that city 7
ference
was a
I would like to ask the
conference of bankers held a few days ago in
voluntary meeting.
There were present at this con¬
and it embodied 117 cities.
delegates from thirty-seven States,
EVery Southern State was
and Far Western
States.
represented except Florida: most of the Western
Bankersfrom
This was a representative gathering.
tjte small villages and towns, as well as the cities.
The action of this
against the fundamental principles of the Glass
conference was unanimous
Since that meeting there
bill.
have been meetings of groups of bankers in
districts, and in
practically affirmed.
"Secretary Bryan stated little about the Government note issue, except in
connection with Government control, that in time of war, of course, the
Government issued its currency, and why should not it do it in time of
peace?
It is em old adage, 'In time of peace prepare for war.'
As there
all parts
of the United States called together from country
the action of the Chicago conference has been
every case
seems
to bo no
note issue,
good reason why the Government should give its credit to
and,
value in security,
to lend its
guaranty is
three times its
under the proposed bill, if Government
as
eliminated, the note issue would then have some two or
it seems unwise and unnecessary for the
credit, which had best be fostered for
Government
times of trouble, if they
hould come."
The Institute in its resolution
•
for any
declined to stand
of the utterances made at the
as sponsor
convention, declaring
'
that:
"This Institute disclaims any
and all responsibility for statements made
are
not to be
H. J. Drehcr
was
and
elected President of the Institute at
Manager of tho bond department
of the Marshall &
The
Kentucky Bankers' Association gave expression to
disapproval of certain features of the pending currency
its
bill in the
at
following resolution, adopted at its annual meeting
Louisville,
on
the 18th inst.:
Resolved, That we, the members of the Kentucky
In regular
September 191?, reaffirm our previously
currency
Bankers' Association,
this 18th day of
State convention assembled at Louisville, Ky.,
expressed desire for a more elastic
and better utilization of bank reserves; but we deplore and oppose
the following provisions
of the bill known as the Glass-Owen bill, now pend¬
Congress, to wit:
We condemn the provisions of said bill that force existing national
ing in the American
I.
banks to invest any portion of
or
their capital stock in regional reserve banks
is more and not less banking
national, should be on equa
futilities, and that all banks, both State and
/•
v
believes that States, like individuals, should be
governed by principles rather than by impulse, by laws rather than by
It believes that the great rules of right conduct and justice contained
in
should continue to control and limit the powers of
Constitution
our
individual liberty may be preserved and our
If the statement of those rules be
or wrong, then the statement of the rules
be changed in due and orderly manner as prescribed by the Consti¬
The Republican Party condemns all
proposals to intimidate
government to the end that
Government .endure.
Constitutional
found at any
should
tution.
time inadequate
Judges in the discharge of their duty by threats of a recall in case of an
Unpopular decision and all proposals to nullify the decisions of the courts
at the will of a temporary popular authority through the recall of decisions.
The denunciation of the currency
bill is contained in the
following extract from the platform:
.
"We
Democratic Banking and Currency Bill
denounce the
which has
passed the House of Representatives and is now under consideration by
the Senate as menacing the business interests of the country and as inimical
the interests of the whole
to
these false
people, because it rests upon and embodies
principles:
•
1
;
•
.
That the interests of the owners and managers of banks and
business men and the public generally are in conflict.
In fact, all
(1)
of
those
these
interests are identical.
That paper money should be issued by the Government and should
involve the Government's credit.
This is unsound, unscientific and con¬
(2)
It is but a short step from this to greenbackism.
administration of the banks should be taken in
established and own them, and lodged in a
This is a new, radical and most dangerous
departure from American practice.
It iis as unwise as it is unnecessary.
Government supervision and inspection of national banks have been highly
successful for half a century, and have afforded ample protection to the
(3)
That the control and
large part from those who have
board of
political appointees.
public interests.
"Should this bill be enacted into law in its present form,
it would be easily
possible for the people to lose all that they gained by the vetoes of inflation
measures by President Grant in 1874, by President Hayes in 1878, by the
successful fight against the
1893
Cleveland in
and
compulsory purchase of silver led by President
by the victory of President
MqKinley on a gold
1898.
powerful support of William Jennings Bryan has been
platform in
standard
secured for
in fact, bf the sound money
principles for which Presidents Grant, Hayes, Cleveland and McKinley
stood, and in favor of the inflation doctrine which Mr. Bryan made his
own in 1898, and which has been overwhelmingly rejected by the American
■.
"The
this pending
bill by the surrender, in form or
people.
.
Congress on Aug. 8
1893, are as pertinent now as on the day they were written.
'This matter rises above the plane of party politics.
It vitally concerns
every business and calling and enters every household in the land.
One
of the greatest statesmen our country has known, speaking more than
fifty years ago, when a derangement of the currency had caused financial
.distress, said:
'The very man of all others who has the deepest interest in
a sound currency and who suffers most by mischievous legislation in money
matters is the man who earns his daily bread by his daily toil.' ">
President Cleveland, written to the
"The words of
"
"In this situation,
with the many important matters
pressing for decision
of the State and nation, the Republican Party would be
neglectful of its duty to its members and to the voters generally, if it
should fail to emphasize the need of careful study and a right and sound
by the citizens
determination."
'•
*
.
'
.
-
'
With the
son
—
.
last Saturday night, Secretary of
Jennings Bryan issued a statement replying
Warrenton, Va.,
at
State William
criticisms to which he
of the lecture
use
Bryan
^-4
conclusion of his Chautauqua lectures for the sea¬
has been subjected because of
Mr,
platform to enhance his income.
announced it as his purpose to continue to lecture, and
that he did not believe that "any person whose
declared
opinion is worth having will think less of me because I do so."
The total yield to him from the Chautauqua lectures Mr.
has been $7,000, while he places the net
&Vsomething over $6,500. His statement, issued
Bryan announces,
receipts
at
Washington, is as follows:
This evening's
The total income
is the last of the Chautauqua lectures for this season.
from the Chautauqua lectures this year is a little over
$7,000; net receipts,
The number
after taking out expenses, something over $6,500,
which have been used for the lectures is,
of whole week days
recollection, seven.
The remainder of the lectures have
been delivered at places near enough to this city to enable me to leave
in the afternoon ...sometimes as late as 3:08 o'clock.
„
.
r
according to my
compels them to make deposits therein.
2, Feeling that what the country needs
That
dealing with the recall of the judiciary
men.
his
♦
believe that the present
city at Carnegie Hall
;
to the
Ilsley Bank of Milwaukee.
attentive
pending banking and currency bill.
The Republican Party
last
Mr. Dreher is both Assistant Cashier
long de¬
so
an
as
says:
opinions expressed or policies advanced by
construed as bearing the endorsement of this Institute."
week's convention.
hope they will lend
adopted at the New York
on the
the recall of judges and judicial decisions,
Republican platform
part of the platform
by invited speakers and any
them
alike the interests
serve
and bring about the result
will lead us to a proper solution of the difficult problem.
demned by experience.
did not explain why in this Glass
of the country are
have
bank that will
State convention held in this
kind. and. since the first Administration
out,
"
a
♦——
such legis¬
and is not unjust to the great
banking interests of the country were
influence to secure control of
statement
subject of
all interests and succeed in giving to the country a law that will prove
The
was
New York "Times" as saying:
"Mr.
Be it further
safeguard and benefit to all our people; and we
and denounces the
that
Board provided for in the
of State William J. Bryan,
being sought by the banking inter¬
ests, has caused Secretary Farnsworth of the American
Bankers' Association to issue a disclaimer on behalf of the
banks.
Mr. Farnsworth was present at the convention of
the American Institute of Banking held at Richmond on
the 18tk and 19th inst. at which Secretary Bryan's criti¬
cisms were
made.
Mr.
Farnsworth is quoted by the
to
and often unpleasant and extensive duty of
safeguard against financial panic; and we heartily endorse
a
23d inst. condemns
-4
i
.
Government
safeguarded as to make
realize the difficulty confronting the President and
we
wholesome agitation
all the money necessary
converting them into
i% higher interest."
•••'.'
control ef the
a
outstanding 2% bonds instead of
to take care of these
bonds which pay
ear to
its
instead of
sell its bonds at retail
"In effect I want the Government to
pending
That
of all sections of our common country
operation will cost about $10,000,000 per
always issue its bonds
interest of not less than 3% on all new loans.
so
opposed to that section of the pending bill which requires
are
American people on the
sale of bonds in the hands of
and means that the Government hereafter must
the Federal
Congress in their present effort to enact into law the will and wisdom of the
the ownership and contro
in my judgment to increase
It is unnecessary for the Government
"
thus issued should be
currency
their efforts in that direction, and sincerely
rate of interest to
thereof.'
is permitted should be
currency
the banks, without the guaranty of
and the
Resolved,
the same people.
•*
emergency
collecting checks without charge.
For the life of me, I cannot see where the Government has settled
agreeing to pay 1 % per year more for money to
year
We
4.
its difficulties by simply
of its bonded debt and the control of future
or
banks to render the important
provisions of the bill that in twenty years the
retire these bonds and at the same time leaving
of the existing rights of
it sound and safe, and it should be so taxed as to cause its automatic retire¬
present national bank issue of bonds will be retired or in exchange the Gov¬
ernment will issue 3% interest-bearing bonds without the circulation privi¬
lege.
any
law that tends to depreciate
ment when it has served its purpose.
Representative^ Howard said:
proposal
It is contemplated by the
abridgment of
except as It may act as a trustee for holding the assets which secure such
currency,
In advancing
small amounts to savings bank depositors.
Whatever note issue
3.
He suggests that the 3% bonds pro¬
vided for im the bill to take the place of the 2s
any
and to the enactment of any
xcvii.
the value of United States Government bonds held by owners
plan for the refunding of the 2% Government
a
opposed to
are
national banks
and drafts between members of the Federal Reserve Association.
bonds
[Vol.
CHRONICLE
THE
858
.
I
would hot
it not for the
interested in these details were
representatives of a few newspapers have regarded
of great importance, and I comply with their wishes in giving
fact that the
it as a matter
public.
the facts to the
lecturing and shall lecture whenever I deem it
desirable or necessary to do so.
I have not in the least altered the plans
which were made at the time I assumed the duties of this office.
The
criticism that has been directed against my lecturing is no more bitter than
the criticism I have undergone at other times and for other things during
my connection with politics.
A part of this criticism is malicious, a part
of it is partisan and a part of it is based upon misinformation.
That which
is malicious will answer itself; that which is partisan will be accepted as such;
that which is based upon misinformation will cease when the critics are
better informed.
' "
No man should enter public life if he objects to criticism, and he cannot
stay in public life if he permits criticisms to turn him from doing what he
thinks is right.
He must decide his duty for himself, answerable to the
public for any mistakes that he makes.
I regard lecturing as an entirely legitimate field.
I lectured before I
was nominated for the Presidency.
I lectured between campaigns; I shall
continue to lecture, and I shall not believe that any person whose opinion
is worth having will think less of me because I do so.
This closes the lec¬
expect to continue my
I
ture
subject for the present.
filed against ail order of the Interstate
to slip-
Protest has been
that the public was
assume
853
CHRONICLE
THE
1913.]
Sept. 27
Commission calling nf>on the tailroacfc
Commerce
ply, in connection with the work of ascertaining the physical
valuation of the railroads, maps or tracings, instead of blue
prints, of their right of way.
The roads claim that the Order
of the Commission entails an unnecessary expenditure of ap¬
proximately $5,000,000, calling for an outlay of at least $20
mile on about 250,000 miles of road in the United States k
It is also claimed that the time required to prepare the maps
would be so long as to seriously interfere with the actual
work of valuation.
The railroads signify their willingness
a
the Commission in every
desire to do so offer to furnish
co-operate with
to
and in their
possible way,
blue prints or
right of way, which they assert can
and will answer the purpose of the Com¬
The roads also object to the Commission's order
prints of their
black
easily be prepared
mission.
information concern¬
their roads or the names of the owners.
They contend that they have no right to enter upon the lands
of others for the purpose of making surveys or otherwise
obtaining the boundary limits of such lands.
No-t only do
they state that it would be difficult to obtain the names of
the owners of adjacent lands, but they furthermore set out
that if their efforts were successful, the information would
be of little value when placed on a map because of the con¬
that they
furnish the boundaries of or
ing lands adjacent to
In the decision
of the extradition
proceedings against David
down by U. S. Commissioner Anson S. Tay¬
lor on the 24th inst., Lamar's removal to New York for trial
Oct. 7 is ordered.
Lamar's attorneys will contest the order
Lamar, handed
through
of
an
application to the Supreme Court of the
Columbia for their client's release on a
District
writ of habeas cor¬
Lamar is under a New York indictment for having im->
personated Congressmen Riordan and Palmer. His at¬
torneys are opposing his removal to New York on the ground
that the section of the Federal criminal code he is charged
with violating in dealing with the impersonation of Govern¬
ment officers does not apply to members of Congress.
pus.
Law, in which
the Commissioner
of Internal Revenue after the date fixed in the statute
does not relieve the corporation from the payment of the
penalty imposed for failure to make the return within the
specified time, is announced by Internal Revenue Commis¬
A decision
relative to the Corporation Tax
acceptance of a return by
it is held that the
follows:
CORPORATIONS—DECISION OF COURT. „
1.
Penalty Constitutional.—The penalty of from $1,000 to $10,000 for
failure to make return, as prescribed by section 38, Act of August 5 1909,
sioner Osborn as
EXCISE TAX ON
•
is
Constitutional.
;
of Return.—The acceptance of a return by the
Commissioner of Internal Revenue is not a waiver of the penalty.
3.
Construction of the Act.—Penalties for delay are a necessary: incident
to procuring revenue and should receive an impartial, if not^a sympathetic,
Effect of Acceptance
2.
'
Interpretation.
„
TREASURY DEPARTMENT,
OFFICE OF
The
Ten A Nineteen
the United Statos District Court for the South¬
in the case of United States vs. Surprise Five,
Cent Store, is published for the information of internal
officers and others
concerned.
"YV.
"
•
H.
-
OSBORN, Commissioner.
America
) United States District Court, '■
f Southern District of New York.
Nineteen CcnUStore.)
HAND, District Judge:
This case raises the question of the meaning
and Constitutionality of the eighth paragraph of section 37 of the PayneAldrich tariff bill levying an excise tax on corporations.
The section
United States of
vs.
Surprise Five, Ten <&
as
•
The carriers
should not be burdened
the
.
with the excessive and unnecessary
said tentative draft of specifications, wfcloh would,
for the tracings alone, amount to at least $20 a mile over and above the cost
of furnishing prints from existing tracings
now in the possession of the
carrier. The matter of cost is beyond question, and if advantages equal to
such cost were attained, there would be no ground for debate; but there
being no gain in results, it seems unnecessary to incur, say, mhiy thaes the
cost of
compliance with
cost of the
equally useful prints.
...
,
«
.
Maury I. Diggs was
sentenced on the 17th inst.
in the
Court at San Francisco to two years' imprison¬
ment and to pay a fine of $2,000 for violating the Mann
"White Slave" Act.
He was found guilty of having vio¬
lated the law on Aug. 20.
F. Drew Caminetti, who was
U. S. District
charged with the same offence, was
adjudged guilty ©a Sept. 5
jury in the U. S. District Court, San Frannis#©, ©a ®ne
count in the indictment; he was sentenced on the 17th inst.
by
to
a
and to pay a fine of $1,500.
granted in both eases, and
admitted to $15,$00 bail and
eighteen months' imprisonment
A ten-day stay
of execution was
period ..Diggs was
$l^to) bail.
that
appended decision of
District of New York,
revenue
is
roads say:
the
Caminetti to
Washin-gtOn, D. C., June 30 1913.
ern
ownership. In protesting against
regard to the maps called for,
v •'/
in
Commission's order with
for
COMMISSIONER OF INTERNAL REVENUE.
changes
stant
follows:
.
of the corporations, joint-stock companies or associations, or
insurance companies aforesaid, shall refuse or neglect to make a return at
the time or times hereinbefore specified in each year, or shall render a
false or fraudulent return, such corporation, joint-stock company or asso¬
"If any
ciation
or
insurance company
shall be liable to a penalty of not
less than
exceeding $10,000."
Constitutionality of the Act,the only
$1,000 and not
suggestion is that it makes
reasonable contest impossible because of the penalties imposed for disobedi¬
ence.
Cases like Ex parte Young (209 U. S., 123) must not be pressed too
far.
In that case the penalties were not less than $5,000 for every passen¬
ger carried at more than 2 cents a mile.
By the time the cause could be
finally determined,the aggregate of fines would have destroyed the carrier.
The Court thought the measures actually operated—and perhaps were
designed—to prevent any contest.
The penalties here are not dispropor¬
tionate to an enforcement of the Act and the minimum not unreasonable
As to the
.
for an honest contest
if it involves
The real question is whether
substantial interests.
the penalties are
remitted if the Commis¬
the statute. I think that
the statute intends the Commissioner to accept the. return whenever filed,
at least for a period of three years.
If so, of course it cannot be an excuse
to file it after the proper date, else the section would be nugatory as a means
of compelling compliance with the substantial scheme of the Act.
My
reason for believing that the Commissioner is to receive the return whenever
filed is that under the fifth paragraph, if the return be fraudulent or if the
corporation neglect to file the return, he shall assess the tax together with
a surtax.
Now, it would be absurd to suppose that since he is in such a
case to assess the tax and a surtax, he is bound not to accept the return,
which is the best means of assessment.
It is true that he had powers to
investigate and make his own return, but these are for use when there is
no return.
The result would be that the Commissioner would have to
choose between foregoing the most convenient means of assessing tax and
surtax or the penalties themselves.
He certainly has no such alternative.
Moreover, this is a revenue Act, and, though these are penalties, the Court
ought not to look about too curiously after constructions that impair the
sanction of the plan.
Taylor vs. United States (3 How., 197-210).
Pen¬
alties for delay are a necessary incident to procuring the 'revenue of the
Government, and should receive an impartial, if not a sympathetic, inter¬
sioner accepts the return
pretation.
after the date fixed in
In the case at bar there is no reason, however, for more than
judgment^will therefore go for $1,000 and costs.
the minimum penalty, and
The
Commissioi^lJamed by Superintendent Van Tuyl of
Department to jo vise the
j^ato held its first meeting at the Wal¬
dorf on the 18th inst^The Commission consists of A. Barton
Hepburn, Chairman xS the Board of the Chase National
Bank; Charles A. Miller, President of the Savings Bank ©f
Utica; Elliott C, McDougal, President of the Bank ©f Buf¬
falo; E.P. Maynard, President of the Brooklyn Trust Co.!
Herbert H. Lehman of Lehman Brothers; J©in Harsen
Rhoades of Rhoades & Co.; Frank M. Patterson, Professor
Joseph French Johnson of New York University; Leopold
Stern; Charles L. Bernheimer, ex-Judge Randall J. LeRoeuf,
Frank E. Howe, President of the Manufacturers' National
Bank of Troy; John H. Gregory, Vice-President ©f the
Central Bank of Rochester, N. Y., and Louis Goldstein^
Mr. Hepburn is Chairman of the commission, Edward F.
Rorebeck is Secretary and George W. Morgan and John De J
Witt Warner are its counsel.
Henry Morgenthau was orig¬
inally a member of the commission,'but resigned ®n his
appointment as Minister to Turkey.
The Commission has t
the
York State. Banking
New
banking laws of the
been divided into five
Banks—Messrs.
sub-committees, as follows:
McDougal,
Chairman;
Gregory
,
j
How*, Goldstein,
Bernheimer.
Trust
Companies—Messrs. Maynard,
Savings
Banks—Messrs.
Chairman; LeBooof and Patterson.
Miller, Chairman;
McDougal, Johnson and
Rhoades.
companies and small k>ans—
Messrs. Lehman, Chairman; Stern, Bernheimer, Johnson and Goldstein.
Liquidation and Penal Law—Messrs. Goldstein, Chairman; Patterson
Private
bankers,
domestic investment
and LeBoeuf.
The
committee
on
banks will hold its first meeting at
(the 27th) and the committee on savings
meet October 2 at Utica.
Letters soliciting
Albany to-day
banks
will
suggestions with reference to changes in the existing banking
laws have been sent broadcast by Superintendent Van Tuyl
to
bankers, merchants, editors
The law
and others.
passed early the present year by the N*w
Legislature under which a license
York-
must be obtained by all
854
THE
firms,
persons,
associations
selling farm produce
or-
corporations
CHRONICLE
receiving
transfer
or
commission is held to be applicable
to members of the Produce
Exchange. This, it is stated, is
on
the
ture of the State of
Huson, Commissioner of Agricul¬
New York, as
conveyed in a recent com¬
munication to counsel for the
Bacon & Fisher.
In the
as
Commerce", the Commissioner
says:
to the
there
be
can
no
•.
addressed to the Attorney-
the State of New York.
that
if there
is
physically handle the
or
or
the joint undertaking, by whatever
but it does not
—
incorporation is
a necessary
corporate
any
authorized to exercise corporate
powers in the year 1910
time thereafter.
The company was incorporated
was
at any
in 1895, but it appears that
nothing whatever was done un¬
der the charter until
1910, when it fell into the possession of
the United States & Mexican Trust
Co., whereupon those in
control of the latter sought
permission to change the name
of the Metropolis Finance Co. to the
United States & Mexi¬
Trust Co.
can
The law
cision that the charter
of
forfeited because of its
which the Court bases its de¬
on
the
non-use
Metropolis
Finance Co. is
within two years of its in¬
corporation is Section 36 of the General Corporation
Law,
which provides that "if
any corporation, except a railroad,
turnpike, plank road
or
ganize and
the transaction of its business
commence
bridge corporation, shall not
dertake the dischargo of its corporate duties
from the date, of its
incorporation, its
shall cease."
In its
"
or
says^^T^
At the time of the
granting of this charter the
un¬
withmg;wo years
eoj^BSe
findings the Court
or¬
powers
tw^^Kr period wis in
O^BRjither organized
and commenced the transaction of
business
nor^^^Koolc the disai^ge
of its corporate duties within- two
after
of its
incorp«^^H|
Itjtook
steps in this direction for fifteen
We believe
tha^pme
provisions of the Act applied, as,its terms
to
operation.
Concededly
the, Metropolis
Finance
years
no
any
whether incorporated under
general statute
reason
of
The policy of the State to limit
certain excepted
and
under
general
the
is
stock
principal office
transfers of the stock of which
kept at its principal
are
place
or
ledger, the sales
or
entered only upon the stock book thereof
place of business
V
Proceedings have been begun by
D. E. Loewe & Co.,
Danburv, Conn.; against eight bank¬
ing, institutions to compel the payment of the judgment
hat manufacturers of
awarded them
America.
action
Act
of
a 3rear ago
against the United Hatters of North
The judgment was given on Oct. 11
brohght by the firm
under the
against the members of the union because
the firm's
products. by union hatters in
force it to unionize its
the firm,
with
shops.
namely $80,000,
the anti-trust
$240,000.
an
of
anti-trust
boycotts
attempt to
The total damages claimed by
awarded it, and, in accordance
law, the amount
addition
In
were
1912 in the
Sherman
$5,000
trebled, making it
was
counsel
fees
were
allowed,
together with the costs of $7,131 taxed against the defend¬
ants, this bringing the total judgment up to $252,131.
AVhen the suit
of many
originally instituted the bank deposits
was
of the defendants
were
attached and after the judg¬
entered last October demand
was
was
banks to pay over such garnisheed funds
fendants
as
they held
pending actions
tions:
8 The
on
deposit.
made upon the
belonging to the de¬
With their refusal the
brought against the following institu¬
City National Bank, the Danbury National
were
City National Bank and South Norwalk Savings Bank of
South Norwalk.
exerCTRof
1827.
Every
or
powers
powers to the
Metropolis
by thb operation of the general law,a conditional
Compliance with the requirement for the commencement
was,
the discharge of corporate duties
poration
no
their powers has been
since
one
itTgranted and to limit the period of their exercise not
only by limiting their
duration, but by limiting the time they might consume in
actually com¬
mencing to exercise them.
The grant of corporate
Finance Co.
or
A Ay'
corporation,
classes) should begin the
continued
for, and this whether
Bank, the Savings Bank of Danbury and the Union Savings
Bank; all of Danbury; the Norwalk Savings Society and the
Fairfield County Savings Bank, both of
NoVwalk, and the
whether
special laws, must be deemed to have been so
formed subject to this general
provision.
The State has thq right to de¬
termine upon what terms it would
permit corporations to be organized.
It had power to make restrictions
upon the effectiveness of the
formed
275-a provided
the market for sale.
o^^^Becial enactment. No
th^^Hi language of the Act
corporations
l^^Ht within its operation.
the period
witl^^Brhich corporations (save
public policy is indicated why
should not be enforced and all
afsettled
corporation,
Section
or on
ment
.
evidence may be known,
a
of business for the keeping of its stock book or
transfer
powers.
The particular question involved in the
proceedings reviewed,
was as to whether the
Metropolis Finance Co. of New York
or
or
respective parties in
This section does not, in my opinion,
apply to the ordinary business cor¬
poration the stock of which is not listod or upon the market for sale and
which maintains no office or place aside from its
held that the commencement of business
by a corporation
"Within two years from the date of
exercise
in
cate
listed
Court, Appellate Division, First Department,' it is
to
of the
such
place, aside from its principal office
or place of business, for the
keeping of its stock book or transfer ledger,
or for the sale,
delivery or transfer of its stock, then it must file the certifi¬
.
the right
name
associations and other
certificatas of stock
or
apply to the ordinary co-partnership.
If any such corporation maintain
decision rendered in July
by the New York Su¬
to
companies which issue shares
other evidences of the amount of the interest
chapter 457 of the Laws
precedent
are not
corporation is required to
The law applies to stock
corporations, joint stock
"
1913.
preme
delivery of its stock,"
every
apply only to such corporations as maintain a transfer office or
place aside from its principal place of business for the sale, transfeJ
delivery of its stock.
associations and
The view of the Commission is
that any member of the Exchange who
an actual sale on commission
within the. State of New York of grain
or other farm
produce must obtain a license under
a
or
referring to the principal business office
other
makes
Under
or as
as defining and
limiting the class of cor¬
porations to which the section relates, and as so construed I think it must
actual sale on commission within the State
of New York, a license should be
obtained under chapter 457 of the Laws
of 1913; if there is not an actual
sale of farm produce on commission within
this State, it is not
necessary to obtain the license required within this State
of
surplusage
place of business within the State which
be held to
an
Mr. Huson furthermore
says:
place for the sale, transfer
maintain, but must be construed
I therefore
same.
a
to be regarded as
commission made within
this Act may apply, that the
party selling should have actual physical pos¬
conclude
upon
I think the words "Which shall
keep or cause to be kept within the State
In my opinion it is not
necessary, in order that
session of the commodity so sold or
or
of New York
on
not
the market for sale, and which maintains no
place, aside from its principal office or place of business, for
the sale, transfer or delivery oHts stock.
In part he says:
controversy that grain is farm produce within the meaning
produce
Mr. Carmody
requirements do not apply
ordinary business corporation the stock of which is
listed
Exchange, I beg to state that
of Article 12-A of the Agricultural
Law.
This Act applies to all sales of farm
file with the State
certificate setting forth, among other things,
under which its business is
conducted, its place of
makes it clear that in his view these
printed in the "Journal of
Referring to your letter of May 29 1913,
General relative to the New York
Produce
name
shall
xcvii.
a
business, and when and where incorporated.
Exchange—Baldwin, Wadhams,
letter,
delivery of its stock
or
Comptroller
the decision of Calvin J.
[Vol.
one.
of business and
within two
years after the date of
incor¬
■
Ay —A
■
Ay
-
A report on "The
the Committee
Dairy Situation in Illinois," made by
Agriculture and Vocational Education of
on
the Illinois Bankers'
Association, has just been published in
The report points out that heretofore the
pamphlet form.
efforts of the Committee
building
up
of a soil
on
Agriculture have emphasized the
reserve, not
alone
as
a
vital matter of1
condition precedent to the right to
exercise any corporate
powers whatever.
Upon failure to satisfy the condition within the time
limited the right to exercise such powers at once
ceased.
The
better earning capacity—the
basis both of the better agriculture a§ well as the ideal rural
self-executory, and
life all
was
a
statute is
or
no
action
or
Judicial procedure
complete the loss of its corporate powers.
»
pefendant further objects that the charter of the
was
needed to declare
*
Metropolis
stress
Finance Co.
Indefinitely postponed the date when the commencement of business
required, because it contained the following section:
"Section
6.
was
John J.
Jordan, William H. Walker and John H. Meyer shall be and
they are hereby
appointed commissioners to open books for
subscriptions to the capital
Stock of the company at such times and
places as they or a majority of
them shall determine."
venience
of
the
This section
incorporators.
was
There is
obviously inserted for
no
the
con¬
intention
disclosed thereby
that the general provisions of law should not
apply or that the powers
thereby conferred should not be exercised within the general
period of two
years, or that the discretion conferred uopn them should
extend
,
such
beyond
period.
The
mere
language of this section
evinced
to repeal or suspend as to this
corporation the general
notl'extend the period limited for the
no
conservation, but to
intention
statute, and it
did
commencement of business.
and
are
on
secure
working for.
a
The Committee
the immense importance of
now desires to
lay
increasing the live- stock
dairy interests-of Illinois, and the report whioh it has
just issued is concerned with its findings and conclusions
the
dairy situation.
It is set out in the report that the
chase and sale of milk has been carried
on too
long without
regard to the cost of its production and its high food
value as compared with other articles of food.
Much can
due
and must be done
by the producer, it states, "to lower the
cost of his
product through the adoption of better methods
of breeding, selection and feeding.
Every dairy-man should
know his
own
costs
and profits and know how to
——«
balanced ration
An
opinion
recently handed down by New York State
Attorney-General Carmody respecting the registration
regu¬
lations imposed under the amendment made
during the re¬
cent session
was
of the
Legislature to the Stock Transfer Act.
The particular provision referred to was
printed in these col¬
son,
keep
July 5.
As therein stated, it requires that
every per¬
firm, company, association or corporation which shall
umns
or cause to
be kept within the State
a
place for the sale,
on
pur¬
so
his
m
order to produce milk
figure
economically.
a
By
doing he will not only increase his profits, but will perform
best service to the public in
furnishing .the consumer
with
a
highly economical food.
interest and duty of the large
interests
to
assist
and
getting at the, cost Of
Likewise it becomes the
manufacturing and distributing-
co-operate
with
the
producer
oh'
production rather than arbitrarily
setting" a price which is demonstrated to be below: cost; :
They, too, as well as the producer, still have/inefficiencies t6
Sept. 27
while
overcome,
tices and
National
co-operation will prevent many injus¬
open
B. F. Harris, of the First
Bank of Champaign, 111., is Chairman of the Com¬
a
general investigation."
♦
.
The law
was
five hundred, prominent
business leaders
of New York, urging Congressional action towards estab¬
lishing Governor's Island as a modern military post, with a
regiment of infantry, up-to-date barracks and equipment.
The petition, which will be placed in Senator O'Gorman's
hands, points out that as Governor's Island is only twelve
minutes from the financial centre of Manhattan, & body of
this city, has been
signed by
over
bankers, bank presidents, merchants and
in protecting the many
district, including the
Sub-Treasury, in event of a great disaster, earthquake, fire,
riot or mob disturbances.
The petition also describes the
civic and military advantages of this historic regimental
post to the city and the nation in peace or war.
At present
a very small garrison is maintained at Governor's Island, and
the barracks are obsolete, although Congress recently appro¬
regular troops would be invaluable
banking institutions in the financial
Governor's Island
a
great supply depot from
activities could be directed in war
C.
R.
"News"
Board
tion in 1867,
company
appoint the Bank Commissioner.
Plans to merge
mitted to the
It has
September
do
so.
Under the
deposit
new
Crocker,
by him.
—■—♦
assessment
National Bank of
of the
special assessments
made in 1909,
age
teen with the
was
authorized, but the aggregate of such emergency
assessments was not to exceed in any one year 2% of the
the 5%, was
Bryn Mawr National Bank.
Later he became
National Bank, where he
transit
and traveling representative.
evolved.
He
was
elected Secretary of the Clearing-House
Section of the American Bankers'
Association in 1911.
'•
♦
Casimir
Tag, President of the
and the German
German-American Bank
Savings Bank, died on the 21st inst.
He
Mr. Tag was born in this city
and before his entry into the banking business in the early
nineties had been associated with his father in the tobacco
business.
He was elected to the board of the German Sav¬
was
sixty-six years of age.
ings Bank in 1890 and was made a member of the finance
committee the following year.
In 1900 he became Vice-
chosen to the presidency.
He had
German-American Bank for twenty-
President and in 1901 was
been
a
director of the
five years,
at the
and its President for fifteen years. Besides being
named, Mr. Tag was a member
head of the two banks
of the New York
A change in the law was
The issuance of emergency assessments
impaired, or was reduced below
Philadelphian by
In 1910 he was ap¬
pointed by the Philadelphia Clearing House to act as its
representative at the conference of transit managers in Chi¬
cago, at which time the universal numerical system was
Chamber of Commerce, a director of the
People's Trust Company of
this fixing the assessment at 5% of the aver¬
paid.
a
business at. the age of seven¬
employed for twelve years,, the last two years as
manager
made
whenever the fund fell below 1 % of
whenever the funds became
Wolfe is
associated with the Philadelphia
Title
Insurance
Brooklyn Borough, the New York
Company,
the
United
States
Casualty-
Improved Real Estate Company
(of which he was also Secretary), the Germania Life Insur¬
ance Ca., the Germania Fire Insurance Co., &c„, &c.
the
thereafter being one-twentieth annually until the
full 5% was
Mr.
He entered the banking
birth.
daily deposits, one-fifth to be paid the first year and
payments
Association.'
Bankers'
(less the deposit of State funds), and provision was
the total deposits in all the banks.
the presidency. He is
Cleating-House Section of the American
Chapter until L§s promotion to
Secretary of the
it originally passed, it provided
of 1 % of each bank's daily average depos¬
for
York Chapter, to succeed A. W.
elected Vice-President of the First
Syracuse;
Mr. Wolfe was Vice-President
Hudson, who recently was
as
an
of the New York Chapter of the
have elected 0. Howard
Banking
of
Wolfe, President of the New
appeal from his decision.
its
Institute
American
though]it were against his judgment to
for
William
and William Streets.
The board of .governors
guaranty law was
Under the law
N. Seligman, Thomas
Frederick W.
quarters is at Beaver
indebtedness of the guaranty fund.
the Bank Commissioner the final decision in the
Under the old law the Commissioner could be
law there will be no
L. M.
$2,860,000.
of
and its directorate includes Cornelius
Livermore, Charles Scribner,
^Francis R. Appleton, Bradley L. Eaton, &c., &c.
The,
of the
Corn Exchange Bank has twenty-two branches.
Its head¬
H.
passed in Oklahoma in
1907.
The State Banking Board having charge of the super¬
vision and management of the guaranty fund had formerly
consisted of the Governor, the Lieutenant-Governor, the
President of the Board of Agriculture and the State Auditor,
but under an amendment to the law in 1911 the board was
made to consist of the Governor and two members appointed
The
capital of $250,000 and on
deposits
reported
Edward C. Hoyt, Charles B. Alexander,
F. Vietor,
paying its pro rata share of the entire
compelled to issue a charter even
a
Vanderbilt, Richard Delat'ield, Isaac
.
provision gives to
9
Schwan is the President
Banking Board or the Bank Commis¬
sioner, for cause, and the recommendation of two-thirds of the State banks
shall be authority for such removal.
Except during the next three years,
when a special assessment of 1-5 of 1% may be levied, no more than 1-5
of 1% of the average daily deposits, based on the preceding year, may be
levied against the banks in any one year.
In case of a deficiency in the guar¬
anty fund, the Banking Board may issue guaranty fund warrants to pay
the depositors.
These warrants are amply secured and bear 6% interes
and will be legal tender as security for public funds.
.
.
.
One of the
weaknesses of the former law was in the regulation of the officers of a bank
in lending money to companies in which the officer himself was interested.
Under the new law the only way such a loan can be made is with the writ¬
ten authority of a majority of the board of directors, and any banker who
makes such loan without this authority is subject to a fine not to exceed
95,000 and a penitentiary sentence not to exceed 50 years.
...
A
compliment was paid to Bank Commissioner Lankford, by the framers of
the law, when they inserted a provision that nothing in this Act should af¬
fect the tenure of office of the present Bank Commissioner.
.
.
.
Under
the terms of this Act no bank can liquidate, except by failure, without first
of bank charters.
special
The Mount Morris Bank was
Bank.
established in 1888.
right to remove the members of the
ssuance
Corn Exchange Bank will be sub¬
respective stockholders for approval at
of the Corn Exchange
except that their actual expenses
In the performance of their duties shall be paid out of the general funds of
the State.
This board is to have full management of the guaranty.fund.
As this board is practically selected by the State bankers, it gives them the
management of this fund, and as the State bankers pay the assessments
which make up this fund, it is but proper that they should have a voice
In the control of it.
The new law goes further and gives the Governor the
Another
the Mount Morris Bank at Park Avenue
meetings to be held on October 9. Under the merger the
Mount Morris Bank is to become the Mount Morris Branch
councU for
The members
'
and 125th Street into the
of selecting nine men from whom the Governor shall appoint
the three members of the banking board, and three men from whom the
shall
elected April 5 1888.
—+—■—
of creating the
Banking Board shall serve without pay,
service, and
of this time he has been an
officer.
Mr. Kelley continues as a member of the Board of
Trustees of the Union Trust Co., to which he was elected
Jan. 2 1896, and on which he has served longer than any other
member with the exception of W. Emlen Roosevelt, who
Its officers as a representative
Governor
forty-six years of continued faithful
for nearly twenty-seven years
says:
the purpose
After
departments he was elected Assistant
Secretary on Dec. 30 1886; Secretary on Feb. 5 1891, and
Vice-President Dec. 5 1895.
He has therefore given to the
of the Oklahoma
Association, who shall select an executive
only three years after its organization. - -
serving in various
Under the new law each bank may select one of
and these officers so chosen shall compose
Act."
.
entered the employ of the institu¬
Mr. Kelley
Oct. 1.
on
providing ample security for same,
officers, prohibitions in the conduct of
the banks and fixing the penalties for the violation of the
the State Bankers'
,
Vice-President of the Union Trust Co.
retires from active service with the company
of New York,
regular assessments and
provisions of this
♦
.
clearly defining the duties of bank
the business of
(representing the State Bankers' Association) who
of the State Banking
are A. D. Kennedy of Okmulgee and John J. Ger-
Augustus W. Kelley,
of the Bank Commissioner, placing a
maximum on the amount of assessments for the guaranty fund, providing
for the issuance of guaranty fund warrants in case of a deficiency in the
from
Assistant Commissioner, is Secretary, and
of Lawton is Treasurer.
The two other
,
Banking Board, the appointment
fund
The first
lach of Woodward.
which military
essential features of the new law are the manner
assessments were
with Mr. Barber as members
serve
Quoting from the "Bank Depositor Guar¬
anty Journal," the Dallas
Barber
bankers
deposit guaranty fund have been made under a bill
a law at the recent session of the Legislature
of that State.
Stuart,
F.
W.
times.
government
the
emergency
depositors of failed banks.
(one-fifth of 1%) under the newly enacted law
was called for by the Banking Board
on March 22.
Com¬
missioner Lankford is Chairman of the Banking Board;
which became
The
the
assessment
was
changes in
Material
bearing 6% interest whenever
certificates of indebtedness
priated $1,000,000 for adding 103 acres of made land on its
western boundary.
It was the original intention to make
bank
daily deposits of the banks and trust companies.
as amended in 1909 also authorized the issuance of
insufficient to pay the
.
actively circulated by Charles
Warren, President of the Lincoln National Bank of
petition, which
Elliot
"
average
the amounts realized from
mittee.
A
855
CHRONICLE
THE
1913.]
Company, the New York
!
*
•
Col. Edward
Haight*
a
.V--"
-
-;>
member of the New York Stock"
Exchange since 1875, died on
the 20th inst.
He
was
in his
856
CHRONICLE
THE
seventy-third
Col. Haight served in the Civil War
year.
with
distinction, resigning in 1866 with the rank of Colonel;
he was an adjutant of the
George Washington Post No. 103,
G. Ai R., and was a member of the
Loyal Legion.
[Vol. xfcvn.
least 75% of the stock of the
institution, have decided that the beet thing
good of the bank, and its stockholders as
well, is to pay this
James Harrison, Mrs. C. A.
Culberson, Mrs. Mary H.
Schluter, F. H. Sherwood and myself have
paid into the bank $125,000.
The reason for paying this
money into tbe bank is the fact that we are
to do for the
loss into the bank.
now
The old Boston and New York
Bros.
&
banking concern of Blake
Co., established in 1850, will move their Boston
offices from 14 State Street
National Bank
old offices
on
Oct. 1 to the
new
Merchants'
Bldg., at 28 State St.* the site where the firm's
him,
have decided that there would be
nothing left to do but to volun¬
we
tarily stand this assessment;
paid the loss,
your shares
so, as a matter of
you to send us your check for $25
per share on
By doing this, the bank will be enabled to
pay its
if nothing of this kind had ever
happened.
J
as
Charges of embezzlement
Henry Cunningham, the faithful old colored man employed
for 47 years by Blake Bros. &
Co., 25 Broad Street, this
city, died last Tuesday in his 73d
Henry Cunningham
3rear.
well known in every transfer office in Wall
Street,
he made stock deliveries for his firm for so
was
and
almost the last representative of the old
type of col¬
ored men who have been life fixtures in some of the offices
was
of Wall Street
banking establishments.
James C. Brady has been elected to the directorate of the
National Commercial Bank of Albany to
replace his father,
the late Anthony N. Brady.
-
.
•"
"♦—:
,
Worth
bail.
Pittsburgh, to succeed John H. Jones, who
has retired because of the pressure
upon his time of his other
business interests.
Mr. Babcock had
previously been First
Vice-President of the institution and is Treasurer of the Bab¬
cock Lumber Co.
and
surrendered.
■
.
with
a
Frederick
Trust
Co.
of
Frederick, Md., organized
capital of $100,000, began operations
on,
the 1st inst.
general banking and trust busi¬
a
The stock has been sold at $62 50
per share (par
thereby creating
surplus
a
of
$25,000.
The
$50),
officers
are
Reno S. Harp,
W.
President; David Cramer and Judge Albert
Vice-Presidents, and Claggett E. Ramsburg,
Ecker,
Secretary.
Plans
are
another
on
released
was
■
■,;
under
'■
.
$15,000
;
elected Cashier of the institution to succeed F. A.
Freeman,
who was made Vice-President and
Cashier of the newly-
organized Lumbermen's Trust & Savings Bank.
Mr. Tucker
entered the employ of the Lumbermen's National
in 1910 as
assistant note teller.
'
♦
James Ross, a director of the Bank of Montreal and
promi¬
nent in railroad construction
after
work, died
illness of two weeks.
an
land in 1848 and
came
to America about
the 20th inst.
on
Mr. Ross
born in Scot¬
was
twenty years later.
In
the early seventies he was
respectively resident and chief
engineer of the Ulster & Delaware Ry., following which he
became identified with the Wisconsin Central
The institution conducts
ness.
He
•
■
with the Victoria
The
said to have been filed
Arthur L. Tucker, who had been Assistant Cashier of
the
Lumbermen's National Bank of
Portland, Ore., has been
v',
F. R. Babcock has been elected President of the Federal
National Bank of
are
August 9 against M. L. Woods, Vice-President of the
bank,
who, on the 9th inst. returned from California to Fort
where
many years,
he
justice to the above, who have
appeal to
we
of stock.
regular dividends
located for many years.
were
erecting a new building, which is costing a
large sum of money, and
which we, of course, expected the
surplus and undivided profits of the bank
to take care of, and as this
gentleman took a large part of this fund with
being perfected for the establishment of still
financial
institution
State Bank—which is to have
plus of $20,000.
in
Frederick—the People's
capital of $80,000 and a sur¬
a
C. E. Cline is to be its President.
bank is scheduled to
begin business next April.
The
!
Ry. and later
In 1879 he built the Credit Valley
Ry.
Ry., and after its construction
In
ager.
1883 he assumed
the Canadian Pacific
pleted the line
over
appointed General Man¬
was
control
of
the construction of
Ry. west of Winnipeg; in 1885 he com¬
the Rocky Mountains, the Selkirk and
the Gold Range, and
subsequently constructed the remaining
portion of the line.
He
was
interested in many other under¬
takings, notably the reorganization of the Montreal Street
Railway and the rebuilding of the Toronto Railway. With
William Mackenzie he acquired in 1896 the
tramway sys¬
tems of Birmingham and formed the
City of Birmingham
Tramways Co., Ltd.
He had served as Vice-President and
Managing Director of the Montreal StreetRy., Vice-Presi¬
dent of the Toronto Street
Ry., President of the Winnipeg
and
St.
John
street
railways, President of the Dominion
Bridge Co., &c.
Alfred J.
Siegel, President of the Huttig Sash &. Door Co.,
has been elected
a
director of the Third National Bank of
St. Louis to succeed the late Charles H.
'
.
J. L. Svoboda has
'
-
resigned
Huttig.
♦
Cashier of the Omaha State
as
Bank of
The head office in London of the
Anglo-South American
Bank, Ltd., has advised its New York agent, H. Mackenzie,
that a dividend of 6% has been declared for the
half-year
ending June 30, making 12% for the financial year ending on
that date; £60,000 has been added to the reserve
fund, £8,000
Omaha, Neb.
He was elected to the cashiership
the time of the organization of the
bank, a year ago.
Assistant Cashier F. W. High is
acting Cashier
be carried forward.
appointment of Mr. Svoboda's
a
at
pending the
successor.
to the staff
bonus of
pension and guaranty fund, leaving £49,000 to
The members of the staff
are
to receive
10%.
4
According to the Omaha "Bee,"
Investment &
H. Aldrich, was
in Nebraska
the Western Savings
Co., headed by ex-Governor Chester
denied the privilege of engaging in business
by
the
State Banking Board
It is stated that the application
company
IMPORTS AND EXPORTS
Loan
did not
come
up to
was
on August 5.
disapproved because the
the requirements of that
sec¬
The Bureau of Statistics
statement of the
contained which is "unfair, unjust,
to
any
class of contributors."
inequitable
Suit
has
(In the following tables three ciphers (000) are In all
been
oppressive
brought to
has declared
at
a
of
Canada
February
(head office,
ZlA% dividend for the
current
Toronto)
quarter, being
the rate of 13% per annum.
...
June
July
...
August
187,427
shortage of $125,000 in the State National
Bank of Fort
the 5th inst. to Acting Comp¬
troller of the Currency Thomas P.
Kane, by National Bank
Examiner Van Zandt.
The shortage will not
reported
was
on
affect
solvency of the institution, which has
and
a
175,380
138,234
August 9 reported surplus and profits of $232,116.
Announcement that the shortage had been made
good by
some of the larger stockholders was
made as follows to the
on
other interests
dridge
on
in
the institution
by President E. E. Bal-
loss through M. L. Woods of
deal of
euusMsaratiau,
a
J125,000.
After giving this matter
a
133.724
131,246
139,285
137,704
$130,561
121,695
139,042
119,827
129,814
122,807
118,054
125,945
125,172
132,606
126,162
140,674
144,820
177,988
153,095
154,095
$1,818,073 $1,532,359
GOLD.
-Exports—
1913.
January
February
March
......
April
May
June
1912.
Imports—
1911.
$17,238
12,373
18,077
3,010
12,467
$1,915
425
7,454
1,817
4,451
569
7,171
7,265
2,498
.......
July
*
1,195
August
______
._
December
Tot*
.....
1912.
$6,210
5,357
1,506
4,381
4,014
6,817
4,561
4,336
3,893
3,347
3,075
2,178
3,387
7,859
481
5,804
5,577
1
1911.
$5,141
4,201
11,887
4,474
11,397
605
668
330
......
2,710
3,984
13,941
......
657
994
......
$47,425
$37,183
4,625*
5,015
4,768
2,595
4.105
4,704
4,102
3,458
5,611
3,748
.
.
$9,541
5,806
4,119
2,937
2,353
......
November
1913.
$924
10.589
8,654
....
great
few of the larger stockholders, who
represent at
1911.
$143,586
134,188
157,577
162,571
155,698
131,031
148,667
154,757
155.446
$2,399,218 $2,092 527
October
Dear Sir—As you are no doubt
aware, the State National Bank suffered
a
250,316
...
September....
the 15th inst.:
148,885
167.845
199,678
278,244
Total
1912.
146,194
153,152
141,707
127,697
144,185
195,799
210,366
201,753
224,907
254,634
December
1913.
$163,063
'149,914
161,933
157,988
206,412
..
the
capital of $500,000,
1911.
179,300
163,405
160,991
187,813
,
—•
$197,083
175,957
198.844
199,813
September...
November
A
omitted.)
-.Imports—
1912.
$202,446
194,607
...
May
October
Worth, Texas,
cases
-Exports—
1913.
$227,033
193,997
January
April
Batik
,
FOREIGN TRADE MOVEMENT OF THE UNITED STATES."
March
Standard
have prepared the following
MERCHANDISE.
or
compel the board to grant the charter.
The
we
interesting summaries:
banking law which states that the Board
approve an application where a provision is
FOR A UGUST.
Washington has issued the
country's foreign trade for August, and from
It and previous statements
tion of the State
shall decline to
at
.
$66,549
4,707'
.
$57,445
'r
'
'
6,315
April
.......
May
June
4,453
5,897
7,610
5,054
6,778
6,806
6,537
6,972
5,329
4,732
March
$5,651
$6,028
5,122
$6,436
...
February
■">
4,941
6,726
6,046
July
4,936
6,591
4,908
6,077
$4,201
2,481
3,184
2,808
3,093
6,011
September...
6,172
October
November
December
,
„
•
------
5,834
5,052
------«
7,608
5,997
— — — —
$71,962
$65,664
■
..
...
Total.....
— — —
— —
3,898
3,197
4,252
3,556
3,506
3,921
3,653
4,345
4,880
3,436
3,952
3,649
4,684
"3,417
3,998
2,365
4,870
4,940
5,087
$.5513
$4,358
3,781
3,712
4,189
;
2,799
3,401
6,276
August......
r
1911.
1912.
1913.
1911.
1912.
1913.
'
....
January
-Imports—
-Exports
—
1
4,162
,
!
3,404
3,339
3,307
$43,746
$48,401
EXCESS OF EXPORTS OR IMPORTS.
.
...
+54,262
1913.
1912.
1913.
1911.
1912.
+ $58,860 +$66,522+
+ $63,970
Silver
-Goldr
-Merchandise
1013.
January
+ 64,656
+47,835
+ 22,891
..+63,619
+ 60,883
+ 16,729
+ 38,161
+ 19,682
+ 23,338
+ 7,906
+ 32,159
+ 7,203
+ 18,900
+ 21,706
July
..+50,109
August
September.
+ 218
+9,643
+ 13,088
+ 54,858
—2,818
+ 795
—4,609
+ 70,627
October
+ 76,646
+ 77,760
November.
+ 125,149
+ 75,691
December..
+ 96,221
+ 84,232
+ 3,118
—2,076
+ 1,104
+ 1,660
+3,617
—3,079
—3,633
—11,557
—1,764
—10,740
$581,145+$560,168
—$19,124
..
..
April
May
..
June
..
...
..
...
+
Total
+ Exports.
+ 18,240
1912.
$11,028 —$3,226 + $2,235 +$1,670
+1,341
+7,016
+7,652 +2,834
..+44,083
+ 31.981
February
March.....
Bengal, where the jute crop, though not very good in
quality, is large in quantity, and is fetching the highest prices
on record.
Other countries are eager to take gold, especially
Turkey and the Balkan States.
Whether they will be able
to take much depends on whether they will be able to borrow.
Lastly, there is a fear that New York by and by may take
the metal.
Altogether, the City is beginning to fear that
it allowed rates to fall too low, and that the autumn, in con¬
sequence, may not be as smooth as lately had been expected.
In London, business in the stock markets continues very
quiet.
The leaders are still holiday-making, and the general
public without a lead is not prepared to take risks.
Besides,
the strikes and lockouts in Dublin have been followed by
sympathetic strikes in England, which, it is feared, may
spread.
On the Continent, likewise, holiday-making has not
yet come to an end.
The preparations for the coming liquida¬
tions at the end of the month are making bankers careful,
and are deterring the general public from acting without
guidance.
Still, there is everywhere a much more hopeful
feeling.
There is much confidence that the liquidations
will pass off smoothly and that_in October business will im¬
in
SILVER.
'
■
+13.696
—1,004
+ 2,094
+2.353
4 3,164
+ 752
+ 2,236
+ 2,381
+2,367
+ 166
+3,155
+2,137
+ 1,607
+ 2,125
+2,362
+ 1,488
+ 2,407
+ 3,610
..—$23,561
—Imports.
v
Totals for merchandise,
gold and silver for eight months:
Ex¬
Im¬
of
Ex¬
Im¬
of
Ex¬
Im¬
of
ports.
ports.
Exports
ports.
ports.
Exports
ports.
ports.
Export
*
*
*
1911
1910
1909
1908.
years
'
of Imports.
Excess
Similar
41,573
34,589
the
*
32,010 43,166
8,570 46,337
24,332
32,653
15,910
40,473*24,563 44,588 29,535
53.4961
42,490
89,726
28,754
64,963
33,661j 31,302, 34,583j 27,422
11,006
69,972
'
,
for
totals
-■
43,159
1,416,347 1,188,075 228,272
1,259,703 1,007,746 251,957
1,054,053 1,055,098 ♦1,045
947,580 59,482
1,007,062
700,071 391,369,
1,091,440
1912...
$
$
73,583
1913... 1,515,086 1,156,576 358,510
•
Excess
Excess
Excess
(000*
markets will depend to a considerable ex¬
the movements in New York. If they improve,
they will strengthen confidence in Europe.
Another thing
which will have much influence is the ability of Turkey and
the Balkan States to borrow.
If they can do so, there will be
a general recovery in all markets.
If they cannot,, the re¬
vival of confidence will be checked, for the losses have been
tent upon
This year's crops have not been properly tilled;
they been properly gotten in.
Therefore, if
the late belligerents cannot borrow, there will be great dis¬
tress, which may revive apprehensions of disturbance.
The India Council offered for tender on Wednesday 70
lacs of its bills and telegraphic transfers and the applications
amounted to nearly 888 lacs, at prices ranging from Is.
4 l-32d. to Is. 4j^d. per rupee.
Applicants for bills at
Is. 4 3-32d. per rupee and for telegraphlo transfers at Is.
4J^d. were allotted 52%. Next week 100 lacs will be offered.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of Consols,
&c., as compared with the last four years:
neither have
Eight
Mont tw
omitted)
prove.
The course of
grievous.
Silver.
Gold.
Merchandise.
857
CHRONICLE
THE
Sept. 27 1913.]
two
36,934
38,904
.
29,816
29,979
*
18,834
13,684
15,053
7,118
8,925
7,161
'
month since July 1 for six
Sept.
EJ-
Im¬
of
Ex¬
Im¬
of
Gov't securities
ports
ports.
Exports
ports.
ports.
Exports
Other securities
Mnntt
Im-
'Ex¬
348,804!
316,73C
1911..
271,8821
249,294
1909...
219,088'
1908...
213,6431
255,820*
1907...
1
of.
Exports
«
1912..:
1910..
,
ports.
%
1913...
ports.
%
*
%
s
Excess of
*
$
9,849
13,3061 9,763
2,659
27,882
3,979
255,674 46,380
229,582*10.494 25,892
177,620, 36,023 11,445
.250,4281 5,392 12,075
276,989
303,424
244,000
Excess
Excess
Excess
s
<000*
omitted)
71;815
deposits
Other deposits
1909.
Sept. 22.
£
£
13,663
*3,814
9,325
6,700
9,844
12,668
6,200
7,388
3,644
438
5,280
*4,041
10,144
Bank rate.
9,880
7,574
7,914
7,107
2,570
19,122
17,274
4,192
1,966
Consols, 2% p. c
2,437
2,789
4,433
56 H
53 5-16
Silver
6,280
8,270
12,485,785
43,535,619
15,265,770
29,111,810
29,905,229
50%
Reserve,notes&coin 31,761,426
Coln&bull.,both dep.42,007,766
Prop, reserve to lia¬
bilities
p. c. ;
60.75
28,955,915
11,910,074
45,554,393
14,097,524
29,080,887
32,572,834
43,078,749
23,101
8,618
7,253
6,634
9,544
9,069
5.4411 12,703
52 %
2%
3
83 3-16
80 7-16
76 11-16
74%
29 3-16d.
24%d.
24 13-16d.
28^d.
Clear .-house returns 287,283,000 312,960,000 275,959,000 270,874,000
*
The rates for money
210,653,000
have been as follows:
3%@3 11-16
—3 months
—6 months....
4%
4%@5
—4 months
3%
3 15-16
4
4
4
4%@4%
4%@4%
4%@4%
4%®4%
4%@5
4%
Trade bills—3 months.;
3 5-16
3%
4%
4%@4 5-16
4%
.
3-7-10
3%m%
3% @3 13-19
4
,
—4 months.'
Aug. 29.
Sept. 5.
4%
4%
4%
Bank of England rate.
Open market rates—
Bank bills—60 days..
12.
Sept.
Sept. 19.
[From Our Own Correspondent.
23 ll-16d.
September 21.
imports.
<&o mrac vci at £uglisTt Incurs
39,091,224
*4
4
4%
73 15-16
p. c.
,
28,967,905
8,998,306
45,709,787
15,329,192
28,768,640
28,891,210
39,409,115
27,636,995
28,547,975
15,884,550
46,355,339
13,367,655
35,597,638
31,534,460
41,632,436
26,308,517
s
Public
1910.
Kept. 21.
£
£
'
.
28,696,340
9,629,267
42,630,196
12,453,405
Circulation
Silver.
Gold.
Merchandise.
Tm
1911,
18.
Sept.
17.
£
Sept. 20.
1912.
1913.
make the following exhibit:
4%m
Interest allowed for deposits-
Londony Saturday, Sept. 20 1913.
market is becoming somewhat anxious be¬
cause of the magnitude of the demand for gold for both Ger¬
many and Egypt.
The German demand especially is at¬
tracting attention.
Since the last day of December the
Reichsbank has increased its gold reserve by over 19
mil¬
lions sterling.
It has been enabled to do this partly because
those who desire to do so have been afraid to withdraw gold
By Joint-stock banks
'
•
The
money
lest they should bring down on themselves the
anger of the banks and of the Government, and partly by
thereduction during the. year of the imports into Germany,
concurrently with the increase of the exports from that
country.
But the chief causes of the success have been the
unwillingness of the Bank of England to compete and the
large shipments of the metal from South America.
The Bank
of England, being, obliged to redeem its notes in gold when
presented, is unwilling to give for the metal more than the
Mint value.
The Reichsbank, on the contrary, is not in¬
fluenced by the rise in price.
Brazil and Argentina have been
sending much gold to Europe, because both are indebted to
Europe.
The Reichsbank has taken advantage of this cir¬
cumstance.
Moreover, it has competed very actively for
the gold offering in the open market every Monday.
It is
hoped that as we are now so near the end of the quarter the
for export,
,
German demand will fall off.
Egyptian demand is due to the excellent cotton crop.
is not only large, but good in quality and very early.
The first pickings are giving excellent results, and the reports
of damage done to the American crop are stimulating the
European demand.
The general estimate is that Egypt will
take this season between eight and ten millions sterling.
The opinion of those in the best position to be well-infor ned
is that the higher figure will be exceeded.
There is a strong
fear, likewise, that the Indian demand will be very large.
The monsoon has been bountiful; the crops everywhere are
looking in first-rate condition, and the trading classes gen¬
The
The crop
erally
are very
optimistic.
Already there is great activity
:
By discount houses—
3
3
3
3
3%
call
At
7 to 14 days
3U
3%
3H
The bank rates of discount
and
13.
Sept.
*Bank
Open
Rate. Market.
4
3%
6
\
5%
Rates of
Interest at—
Paris
Berlin.
Hamburg
Frankfort
.
Amsterdam.
5%
6
6
...
5
4%
4%
5%
5
...
Brussels
5
Vienna
6
5%
Copenhagen
Messrs.
Sept.
nom.
4%
St. "Petersburg
Madrid'
4%
6
-
Sept. 6.
Bank
Open
Rate. Market.
4
3%
6
4%
6
4%
6
5
5
4%
5
4%
6
5 13-16
5^ nom,
4%
4%
6
—
...
Pixley & Abell write as
18:
market rates at the
follows:
open
chief Continental cities have been as
Aug.
Aug. 30.
Bank Open
Rate. Market.
4
3%
6
4%
6
4%
6
5
>
5
4%
5
4%
6
5H
Bank
23.
Open
Market.
Rate.
4
3$
6
5
6
6
5
5
4%
4%
5H
5
5
6
5%
nom.
5%
nom.
4%
4%
4%
4%
6
,
—
6
...
follows under date of
-
.
..
which has arrived this week, India has taken
bought for the Continent, though, owing to the
change In the date of arrival of the South African gold in London, the refiners have
had to hold back a part of the gold required for the Indian small bars next week.
Under the new arrangement, which commences next week, the South African gold
will not be delivered in London earlier than Tuesday, instead of on Mondays as
hitherto.
At the Bank, £1,100,000 in sovereigns has been withdrawn for
Egypt
£5,000 for Gibraltar and £40,000 for India.
Next week £1,301,942 is due from
South Africa and £5,000 from India.
Arrivals—South Africa, £675,500; India,
£70,500; Australia, £27,000; West Indies, £22,000; New Zealand, £2,500; total,
£797,500.
Shipments—Bombay, £173,500.
SILVER.—The market has again been poorly supplied and further advances in
quotations have been made to 28 3-16d. for spot and 28 5-16d. for forward.
There
have been purchases by the Indian Bazaars, mostly to cover "short" sales, while
China banks have been both buyers and sellers.
Of the advances in quotations
% d. has been established to-day, but the market is very steady at the olose and shows
no signs of being overstrained.
A further loss of 1% crores rupees is reported from
India and the holdings of rupees including the 6 crores in the gold standard reserve,
now amount to 22 crores, against 19.36 crores at the same date last year.
Stocks in
London are now estimated at £4,200,000.
Arrivals—New York, £230,000; West
Indies, £3,000; New Zealand, £1,000; total, £234,000.
Shipments—Bombay
£2,500; Madras, £2,500; Calcutta, £10,000: total, £15,000.
GOLD.—Of the £797,500 in bars
£190,000 and the balance has been
The
quotations for bili on are reported as
GOLD.
London Standard.
Bar
gold, fine, os._... 77
9
77
9
follows:
SILVER.
Sept, 18. Sept. 11.
s.
d.
s. d.
Mept. 1$. Sept.
London Standard.
"
11.
d.
d.
3-10
2-mo. delivery, sb-M 5-10
Cake silver, 00
.$0 7-10
Bar silver, fine, o«.._28
.
27H
27 15-16
29 15-16
858
The
THE
CHRONICLE
following: shows the imports of cereal produce into
Kingdom during the season to date, compared
BANK
seasons:
IMPORTS.
Two weeks—
1913-14..
1912-13.
1911-12.
4,520,900
5,213,100
909,900
437,400
4,741,500
.
Imports Of wheat
cwt.
Barley
969,200
Oats-—
Peas—.
Beans
390,100
95,774
84,710
2,253,000
502,300
_
—
Indian
corn
Flour
1910-11.
1,560,300
426,700
208,138
46,420
991,900
503,800
139,569
63,750
1,822,500
316,200
*
4,453,700
794,200
548,300
82,956
Sales of home-grown...
Total
—
.
«...
Aug.
1912-13.
1911-12.
1910-11.
5,213,100
316,200
4,453,700
286,800
497,970
4,741,500
503,800
2,417,757
6,027,270
7,663,057
32s. 4d.
5,675,183
30s. lid.
32s. Id.
31s. 5d.-
week.
—.qrs.
.qrs.
Last
1,545,000
175,000
1,595,000
qrs.
Maize
week.
1912.
1,920,000
170,000
1,970,000
30 1913
Feb.
28 1913
Jan.
31 1913
Dec.
31 1912
Nov.
30 1912
Oct.
31 1912
Sept.
30 1912
2,040,000
105,000
160,000
1,495,000
185,000
Sat.
per oz
_d.
per cents
d For account.:..
28 5-16
Tues.
74
89.35
Amalgamated Copper Co...
!
!
8
|
98%
100%
Preferred..
99
Denver & Rio Grande
■
30
14.
99%
30%
99%
30%
89
g.
45
48
94%
24%
95%
95%
"25%
25%
82
".
;
,
Preferred...
4%
1
share.
6 £
flat prices.
c
are
82
65%
65
112
112
4%
4%.
Ex-divldend.
Aug. 1913.
12%
here
given
$21,690,081
2 Mos. 1913.
■J*
Total cash
.
receipts..61,600,197
16
Pay Warrants Drawn—
S
58,341,834 23
51,913,296 55
2,142,026 03
9,034,791 72
Miscellaneous
are
2 Mos. 1912.
'
58,741,606 98
Ordinary
...26,192,448 42 25,832,278 18
Corporation tax.... " 288,727 15
334,732 20
4,184,069 15
3,832,659 98
54
d Quotations
$
——30,934,952 44 30,205,331 96
Internal Revenue—
12
54
Aug. 1912.
$
Current Receipts—
4%
12%
Sept. 1 1913....
enabled to
Customs
112%
54
54
notes
pl^ce before our readers to-day the details of
Government receipts and disbursements for
August and the
two months of the fiscal
years 1913 and ,1912.
88%
64% <■."
deposit, to redeem national bank
164%
88%
54
sterling,
82
163%
88%
112%
4%
12%
13
!
4s
82
163%
on
GOVERNMENT REVENUE AND EXPENDITURES.
—Through the courtesy of the Secretary of the Treasury, we
15%
88%
66%
112%
;
Wabash
25
82
66%
!
■
164%
88
1
U. S. Steel Corporatioq
Preferred
15%
94%
$20,790,783
899,298
;
47
15%
95%,
24% \
J
163%
Amount
87
r-
$761,720,029
i
116%
45
....
Sept. 1 1913
Amount on deposit to redeem national bank notes
Aug. 1 1913...
Net amount of bank notes issued in
August
86%
44 %
15
!
87
87%
44
$759,293,191
2,426,838
*,
_...—
r'-
30%
116%
"
"
•
109
87%
48%
<
30%
87%
15%
"
Legal-Tender Notes—
58
47
"'
*
'
Amount of bank notes afloat
14^
98%
58
43%
•.
'.
42
109
117%
809,858,237
«
29
.
58
1
■
56
58%'
87%
'
14%
99%.
87
117%
-58%
21%
29%
109
67,776,437
10,000
1,978,000
5,967,000
1,821,000
17,110,200
898,000
amount of national bank notes
National Bank Notes—Total
Afloat—
Amount afloat Aug. 1 1913
j.>,
Net amount Issued during August
42
c99%
30%
87
!
Preferred.....
•
109%
117^
f
g
;
t
per
'
29%
43
109
August:
114
57
following shows the
S
$54,242,360
37,669,400
25,882,900
615,951,100
29,444,140
933,000
17,951,137
afloat and the amount of legal-tender
deposits Aug. 1 and
Sept. 1, and their increase.or decrease during the month of
38
139%
14%
$
$1,279,500
3,487,700
3,646,700
12,147,200
547,000
933,000
17,951,137
10,000
1,978,000
5,967,000
1,821,000
17,110,200
898,000
742,081,800
The
131
114
30
'
Held.
3% U. S. Panama of 1961
4% Philippine Railway
47
38
139%
22%
43%
W
...
48
57
Total
in Banks.,
Various Territory of Hawaii
4% Philippine Loans
4% Porto Rico Loans
30%
130%
22%
PublicDcposits
$52,962,860
34,181,700
22,236,200
603,803,900
28,897,140
—
Total
30
.
114
15
Pacific
Price
Bank
20
140
44
O
Preferred
a
on Deposit
Aug. 30 1913.
2% U. S. Panama of 1936.
4% U. S. Loan of 1925.
3% U. S. Loan 0 11908-1918
2% U. S. Consol f of 1930
2% U. S. Panama of 1938
36
140%
22%
ft
w
Southern Pacific
Southern Railway
Extended
U. S. Bonds Held Aug. 30 to Secure—
Bonds
'V
110
20
38%
58
'
750,972,246
750,185,776
749,348,859
747,779,654
Aug. 30.
on
13%
36
48%
W
Second preferred
Union
in national bank depositaries
3.65% District of Columbia
60%
110%
131%
O
First preferred
a
•
58
'
60%
14 3
114
23%
*
*
Pennsylvania.
Reading Company
a
113%
140%
&
N. Y. Ontario & Western...
Norfolk & Western
Rock. Island
49
o
...
Preferred
Northern Pacific....
30%
49%
38%
132%
38%
132%
m
Missouri Pacific..
Nat. RR.ofMex., lstpref..
Second preferred
N. Y. Central & Hud. Riv..
37
30%
.
737,065.050
733,754,815
731,044,591
729,400,001
728,246,755
729,931,621
729,778,823
728,515,285
727,169,316
725,395,343
Various State, city and railroad
4% Manila Railroad
7%
97%
83%
239%
239
'
110%
20%
36%
30
20%
,
37
^
O
Preferred
111
21%
W
§
Illinois Central..
Louisville & Nashville
a
6
14
73%
78%
68%
101
97%
83%
60%
14
Ill
Q
Missouri Kansas & Texas...
101
98
83%
238%
61
61%
14%
!
Northern, preferred..
97%
241
239
!
preferred
Second preferred
101
83%
;
First
98
7%
08%
!
Preferred-
88.70
69%
83%
•
Erie
88.92%
78%
68%
7%
70
7%
98%
101
!
Pacific
88.67%
78%
89.10
70
;
738,502,408
S
73 7-16
80%
J
Chesapeake & Ohio
Chicago Great Western
.*
Chicago Milw. & St. Paul..
a
761,720,029
759,293,191
759,157,906
755,294,066
753,076,674
752,059,332
761,117,794
750,481,769
20,790,783
22,092,856
21,539,251
22,032,083
22,659,331
22,871,039
20,550,148
21,193,423
21,670,491
22,179,543
22,384,311
Fri„
28 9-16
98
89.25
80%
•
Baltimore & Ohio.
Preferred
Thurs.
28 7-16
73 %
73 13-16 7311-16
73%
d French Rentes (in
Paris) fr.
Atch. Topeka & Santa Fe_._
Wed.
28 11-16 28 9-16
28 7-16
73 15-16 73-13-16 73%
.......
Am. Smelt. & Refining._—
6 Anaconda
Mining Co
Great
S
21,690,081
20,790,783
22,092,856
21,539,251
22,032,083
22,659,331
22,871,039
20,550,148
21,193,423
21,670,491
22,179,643
22,384,311
21,690,081 740,029,948
Total.
Circulation.
Mon.
Consols, 2%
Canadian
%
"
Week ending Sept. 26.
d
$
The following shows the amount of each class of
bonds
held against national bank circulation and to
secure public
moneys
Sliver,
Legal
Tenders.
1911.
2,040,000
English Financial Markets—Per Cable.
The daily closing
quotations for securities, &c., at London,
as reported
by cable, have been as follows the past week:
London,
Bonds.
$
740,529,250
737,427,800
734,448,060
732,688,750
731,943,480
734,273,150
732,544,640
731,366,680
730,257,280
728,984,230
31 1913
Mar.
33s. 5d.
This
Wheat....
31 1913
April
34s. 3d.
The following shows the
quantities of wheat, flour and
maize afloat to the United
Kingdom:
Flour, equal to.
Legal
Tenders.
742,081,800
741,631,750
31 1913
30 1913
May
934,683
31s. 9d.
.
30 1913.
July
June
31s. lOd.
Average price wheat, week
Average price, season.
Circulation Afloat Under—
Deposit for
$
6,146,530
Imports of flour
on
1912-1913.
Bonds.
4,520,900
502,300
1,123,330
cwt.
Bonds and Legal Tenders
725.
page
on
1913-14.
imported...
1912,
53,440
2,108,700
286,800
Supplies available for consumption (exclusive of stock
September 1):
Wheat
xcvii.
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 1912
will he found in our issue
for Sept. 21
the United
with previous
(Vol.
50,564,814 47
1,688,724'82
9,145,962 30
60,205,002 32 121,831,721 28 119,741,335 82
•
■—:
*
7
•
—
Legislative Establishing 1,101,790 28
—
Executive Office
©ommcvctal atulBIisccHattcous
foetus
TRADE"
KORKION"
OF
NEW
YOKE—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.
•
Department
Treasury Department—
Excl. Public Bldgs..
Public Buildings*...
Month.
Movement
1913.
York:.
1913.
8
$
1913,
,
.
January..
February.
March
...
April
May
June
July
August...
Total
..
92,638,634 87,174,820
86,490,086 80,426,110
89,456,045 94,289,890
82,562,176 95,298,037
73,910,230 89,560,853
75,062,918 75,137,441
79,578,905 85,764,897
78,844,083 86,569,092
111,946 98
1,077,897 09
4,335,820 10
2,473,854 67
7,586,056 88
2,814,407 40
8,058,899 70
4,119,237 23
deficiencies.
83,086,109 ,66,475,205
74,536,674 69,345,534
72,192,950
77,483,831 70,515,688
80,703,347 76,209,457
68,109,228 61,039,548
68,009,103 66,670,270
77,577,210 72,500,822
84,214,736
S
Naval...
'..
.
—
...
Dept.,
18,769,817
18,152,304
17,476,298
14,646,212
12,461,025
15,498,990
18,501,705
19,864,108
-
$
658,543,077 694,221,140 613,719,238 554,949,474
135,370,459 138,210,997
23,513,190 41
6,750,771 36
1,458,522 99
10,292,958 82
76,654 71
474,257 96
22,616,112 48
148,963 04
66,241 67
74
85
77
13
32
1,415,788
.17,268,123
2,702,265
Dept. of Agriculture.
1,986,623
Dept. of Commerce
1,209,593
Department of Labor.
245,979
1,992,764
14,971,741
650,014
17
1,873,994
141 1,137,956
71
6,129,725
31,716,867
3,708,939
4,845,492
commissions
39
33
88/
220,981 29
645,221 54
1,986,306 80
District of Columbia..
the public debt.
Total
pay
drawn
/
1
90
6,489,310
27,740,732
1,472,932
64
>3,824,851
2,098,129 60 1 2,195,797
ances
231,005 06
1,247,976 17
1,934,357 35
56
75
64
08
595,796 25
535,951 12
3,157,692 83
5,206,353 59
01
14
J
569,752 92
3,478,087 03
5,262,659 08
warrants
Less unexpended bal¬
Imports and exports of gold and silver for the eight
months:
22,130,184 19
134,844 93
62
Independent offices and
on
300,070 60
2,401,947 6©
11,240,201 43
Pensions
Int.
366,632 27
70
excl.
.
17,425,585
17,291,791
18,961,616
16,539,318
16,232,161
15,257,298
18,180,492
18,322,736
43
08
53
<
"Pens'ns" & Tnd'ns"
1912.
26,369,859
395,405
10,234,684
1,792,979
»
2,254,544 58
2,000,000 00
.
Indians
1912.
$
90,444 04
1,031,627 07
_
Interior
1912.
^
*
2,342,306 76
.11,500,986 43 12,328,107 97
Civilian
165,317 06
-181,817 74
Rivers and Harbors. 5,605,357 80
3,151,074 46
Department of Justice.
441,996 30
.893,350 61
Post Office Dept., not
incl. "Postal Service"
279,884 05
159,996 07
Civilian
Exports.
1,170,855 45
•
52,591 98
731,015 99
Military..
Navy Department—
Customs Receipts,
at New York.
■"
Imports.
.
New
to
3,330,712 43
1,114,454 18
,
War Department—
Postal
Merchandise
44,726 35
466,864 61
State
62,102,486 56 62,824,738 24 133,892,053 67
123,712,812-29
631,594 79
repaid
765,346 96
1,859,236 22
162,426 43
.61,470,891 77 62,059,391 28 132,032,817 45
123,550,385 86
Total pay warrants
Gold
Movement
at
New
York.
,
Month.
Imports.
1913.
$
January
February.
2,831,377^
Exports.
1912.
$
July
August...
2,627,049
2,645,087
1,894,791
1,441,106
2,464,940
1,665,013
1,602,250
3,024,221
1,838,482
2,376,892
Total..
16,508,831
16,307,695
..
March
April
...
....
May
June
1,215,2431
2,080,332
1,567,157
1,599,914
1,942,672
.....
1913.
70,449,126
Imports.
Exports.
Panama Canal paym'ts
for construction, &c_
-
1913.
$
'
1913.
$
$
1,750,573
10,507,393
7,332,800
1,616,931
377,740
6,025,816
4,858,180
2,358,323
1,099,776
1,624,950
1,169,1,16
1,354,742
871,525
(net)
Excess of current recta.
$129,305 39
Excess of pay warrants
drawn (deficit)
1912.
$
17,154,217
12,242,965
17,588,897
477,246
14,032,195
395,592
8,510,514
47,500
Silver—New York.
4,935,045
4,159,853
4,467,353
5,091,924
4,342,287
3,729,273
38,800
1,482,187
1,743,737
3,733,182
32,508,233
11,704,356
34,096,136
3,637.219
Total
*
deficit..
—
Sites, construction,
—•
i
1,854,388 96
10,201,096 17
3,809,050 04
4,452,104 07
3,206,811 88
7,665,465 22
7,364,326 27
4,322,798 68
5,061,200 84
17,866,561 39
11,173,376 31
equipment, operation and maintenance.
STOCK OF MONEY IN THE
COUNTRY.—The follow¬
ing table shows the general stock of money in the
country as
as the holdings by the
Treasury and the amount in cir¬
culation on the dates given.
The statement for Sept. 3 1912
will be found in our issue of Sept. 21
1912, page 725.
well
Sept. 27
Stock of Money Sept. 2'12,
In United
Held in
—Money in Circulation—
Sept. 3.
Sept. 2.
States.
Treasury.*
1913.
$
$
$
Gold
Standard silver dollars..
II
Sliver certificates a
II
Subsidiary silver...
Treasury notes of 1890..
United States notes
..
..
National bank notes....
Total
..
3,733,765,111 367,909,336 3,365,855,775 3,296,493,280
,P
Population of continental United States Sept. 2 1913 estimated at 97,618,000;
circulation per capita, $34 48.
*
This statement of money held in the Treasury as assets of the Government
does not Include deposits of public money In national bank depositories to the credit
of the Treasurer of the United States, amounting to
statement of assets, see Public Dept Statement.
$54,400,654 15.
For a full
For redemption of outstanding certificates an exact equivalent in amount of the
appropriate kinds of money is hejid In the Treasury, and Is not Included In the account
of money held as assets of the Government.
a
Canadian
Bank
Clearings.—The
clearings for the
ending Sept. 20 at Canadian cities, in comparison with the
same week of 1912, shows a
decrease in the aggregate of
1.7%,
•
.
Week ending Sept. 20.
Clearings at—
Inc.
Canada—
Montreal
$
Ottawa
Quebec
Halifax
r.
Hamilton
...
..,j.
Calgary
Victoria
....
London
Edmonton
%
—3.1
—23.5
—12.2
—14.7
—12.2
2,396,360
1,279,800
2,651,943
1,348,964
544,677
592,766
1,362,604
916,233
+ 9.0
526,411
4,720,584
—17.1
2,949,911
—32.9
508,209
477,828
666,283
2,297,135
1,312,077
604,858
845,260
+6.5
.......
481,214
....
+6.8
+ 5.3
—5.0
+ 0.8
1—3.0
+ 19.7
+ 7.0
—5.3
—27.8
—40.8
Saskatoon
1,361,401
Moose
1,152,941
658,669
849,440
493,771 Not lncl. in
645,462 Not lncl. in
Jaw............
Brantford
Fort
William
New
Westminster..
Medicine Hat.
44,509,192
28,987,127
19,373,234
10,188,404
4,148,288
2,265,756
3,964,381
1,979,985
•
Lethbrldge
Ry«.
Cleveland Railway (quar.)—...
Holders of reo. Sept. 154
....
1,737,214
1,908,171
1,393,203
2,886,527
2,027,647
1,175,286
1,508,861
903,919
528,188
493,615
+ 0.5
total.
total.
....
1
15*
Holders of reo. Sept. 20a
Holders of rec. Sept. 20a
Holders of reo. Sept. 204
Oct.
6
Sept. 17
to
Sept. 20
Sept. 28
to
to
Holders of rec.
Holders of rec.
Sept.
Sept.
Sept.
Sept.
Holders of rec,
Sept. 20
30
30
174
17a
Sept, 15a
Oct.
to
15
Holders of reo, Sept.204
Sept. 11
to
Sept. 11
....
....
Oct.'
Sept. 30.
Holders of rec. Sept.
3*
I*
....
to
to
Sept. 26
Sept. 26
Columbia (S.C.) Ry., Gas A
to
Holders of
Sept. 16
Sept. 16
reo.
Oct.
Holders of rec. Sept.
la
18a
Holders^ of rec. Sept. 24a
Holders of rec. Sept. 25a
Sept. 20
Sept. 30
Sept. 224
Sept. 22a
Holders of rec. Sept. 15a,
Sept. 30;
8ept. 18
to
to
Holders of
rec.
Holders of
—
rec.
Holders of rec. Oct.
la
Holders of
la
Sept. 13
Oct.
rec.
to
Holders of rec.
Holders of rec.
__
$
42,632,253
33,899,857
21,624,967
10,875,567
4,484,790
2,490,384
1,709,114
2,204,337
1,293,651
59,618,171
38,150,630
24,011,238
13,212,617
4,212,513
3,231,075
1,662,816
3,450,039
1,960,909
4,791,748
3,831,598
1,700,862
.
1910.
$
57,692,953
40,680,636.
25,281,544
12,554,966
4,245,088
3,134,510
1,990,586
3,693,819
1,499,877
4,204,295
3,269,019
1,610,578
....
Regina..
Brandon
;
1911.i
Dec.
3,911,162
1.
...
Vancouver
John
or
1912.
■
$
Toronto..
St.
Books Closed
Days Inclusive,
-
1913.
Winnipeg
Electric
When
Payable,
(Concluded)
14 Oct.
14 Oct.
Elec,, pf.(gu.).
Columbus Newark A Zanes.El. Ry.,pf.(gu.)
14 Oct.
Oct.
ConsoL. Cities Lt., Pow. A Trac. (quar.).
Oct.
Dallas Electric Corp., 1st pref. (No. 9)__
Oct.
Second preferred (No. 12)
Oct.
Dulutb-Superior Tr., com.&pf. (quar.)..
Germantown Pass. Ry., Phila. (quar.)._ $1,314 Oct,
2
Oct.
Halifax Electric Tramway, Ltd. (quar.).
2
Sept.
Honolulu Rapid Transit A Land (quar.)..
24 Oct.
Houghton County Trac., com. (No. 9)_.
3
Oct.
Preferred (No. 11)-—:
14 Oct.
IUinoisTraction, preferred (guar.)
14 Oct;
Kentucky Securities Corp., pref (guar.)....
14 Oct.
Lake Shore Elec. Ry., 1st pref. (quar.)..
1
Oct.
Louisville Traction, common (quar.)
Preferred
24 Oct.
2
Oct.
ManchesUr Trac., Lt. A Power (guar.)...
IX Oct.
Manila Elec. RR. & Ltg. Corp. (quar.)..
Oct.
14
Mohawk Valley Co. (quar.).
1
14 Oct.
Nashville Ry. A Light, pref. {guar.)......
14 Sept.
New Orleans Ry. A Lt., pref. (quar.).—
Oct.
14
New York State Rys., common (quar.)..
Oct.
14
Preferred (quar.)
14 Oct.
Nor. Ohio Trac. & Lt., pref. (quar.)
14 Oct.
Omaha A Council Bluffs St. Ryl.pf. (qu.)
14 Nov.
Philadelphia Co., com. (quar.) (No. 128)
3
Nov.
Cumulative preferred
Oct.
$2
Philadelphia Traction
...
1
Oct.
Porto Rico Rys., Ltd., common (quar.)..
14 Oct.
Preferred (quar.)...
14 Sept.
Public Service Corp. of N. J. (quar.)....
&
Street
611,699,353
948,650,439
71,068,661
471,846,931
146,116,659
2,875,546
338,613,664
705,622,027
174,031,112
605,566,895
95,822,940 1,006,019,229
665,6491626
5,276,262
72,519,758
16,056,827
471,796,173
176,645',870 19,493,192
156,152,678
2,629,000
2,625,805
3,195
346,681,016
7,436,157 -339,244,859
761,720,029
711,930,378
49,789,651
certificates a.....
Per
Cent.
Name of Company.
1912.
%
Gold coin and bullion... ..1,881,440,176
859
CHRONICLE
THE
1913.]
Holders of rec.
Sept. 30
Sept. 20a
Sept. 20a(
Sept. 26a.
Oct.
Holders of reo. Oct,
Oct.
Republic Ry. & Lt., pref. (quar.) (No. 9)
Ridge Ave. Pass. Ry., Phila. (quar.)___.
Oct.
Sept. 16
to
I,
Holder^ of reo. Sept. 15
Sept. 30,
Sept. 26
to
Holders of rec. Sept.
2a
Oct.
1
Sept: 21
to
Sept. 301
Sept. 20
to
Oct.
14
H.AP., pf. (qu.) (No.44)
14 Oct.
Scioto Valley Trac., Is* pref. A pref. (guar.)
Oct.
$3
Second A Third Sts. Pass., Phila. (quar.)
14 Oct.
Terre Haute Ind. & East. Tr., pref.(qu.)_
34 Oct.
Tidewater. Power, common.
2
Oct.
Toronto Ry. (quar.)...
Oct.
14
Twin City R. T., Minneapolis, com.(qu.)
14 Oct.
Preferred (quar.)
;——;
1
Oct.
United Light A Rys., common (quar.)..
14 Oct.
First preferred (quar.)
Oct.
4
Second preferred (quar.)
Oct.
50c.
United Rys. A Elec., Ball., com. (guar.)..
14 Oct.
United Trac. A Elec., Providence (quar.)
Oct.
Virginia Ry. A Power, common.......... -14
Sept.
14
Wash. Balt.AAnnap.El.RR., pref. (qu.)
2
Oct.
Washington Water Power, Spokane (qu.)
West End Street Ry., Boston, common._ $1.75 Oct.
Oct.
14
Western Ohio Ry., first preferred (guar.)..
Oct.
14
Second preferred (guar.)
:
Oct.
14
West India Electric Co., Ltd. (gu.) (No. 23)
3
Oct.
Winnipeg Electric Ry. (guar.)...........
St. Jos. Ry., L.,
1,
Holders of rec. Sept.
15a
Holders of rec. Sept.
18a
Holders of rec. Sept. 18a
Holders of rec. Sept.
15;
Holders of rec. Sept. 15
Holders of rec. Sept.
Holders of rec. Oct.
Sept. 10
15\
6
Sept. 14
to
Holders of rec. Oct.
e;
Holders of rec. Sept. 20a
Holders of rec. Sept. 15a
Oct.
1
to
Sept.21
Holders of rec. Sept.
Holders of rec. Sept.
Sept. 24
25a
25a
Oct.
to
1
Holders of rec. Sept. 20a
Banks.
'
Total
—1.7
Caqada........ 170,760,892 173,708,152
1316,799,059 124,034,632
DIVIDENDS.
The following shows all the dividends announced
future by large or important corporations.
Dividends announced this week
are
5
Oct.
Holders of rec. Sept.
2
Oct.
Sept. 21
2
Chase National (guar.).
Chatham & Phenix National (quar.)
Citizens' Central National (quar.)...
Oct.
Holders of rec.
30a
Sept. 30
Sept. 25a
Holders of
Sept. 10
_
to
Coal & Iron Nat. (quar.).
14
Oct.
Colonial (guar.)....
24
Oct.
Holders of rec. Sept.
Commerce, National Bank of (quar.)...
Fifth Avenue (quar.)
for the
2
Oct.
Sept. 20
25
Oct.
Holders of rec. Sept. 30a
...
printed in italics.
rec.
Oct,
to
20a
1,
Books Closed.
Payable.
Days Inclusive.
Railroads (Steam).
1
...
(qu.)
Preferred (guar.)
Boston A Albany
Oct.
Sept.
Holders of
rec.
Oct.
Holders of
rec.
Oct.
Oct.
to
Oct.
Aug. 31
to
Oct.
2
Canadian Pacific, common (qu.) (No. 69)
Preferred.
Oct.
Aug. 31
to
Oct.
IX
1
Holders of rec. Sept.
2
Oct.
Sept. 25
3
Sept.
Sept.
Aug. 30a
Sept. 15a
7
Oct.
1
1
„
Sept,
2a
rec.
Sept.
2a
1
3
Seaboard National (quar.)
Second National (guar.)
to
Holders of rec. Oct.
IX
§ct.
ct.
Aug. 31
to
Sept.
3
Oct.
Oct.
2
to
Oct.
Great Northern
IX
Nov.
Oct.
18
to
Nov.
2
Sept.
Holders of
Sept.
5a
2X
IX
Oct.
Sept. 19
Oct.
1
Oct.
Holders of
(quar.)
...
Hocking Valley (quar.)
....I
Interborough Rapid Transit (quar.).....
Joliet & Chicago (quar.).
Kansas City Southern,
rec.
to
rec.
Sept. 26a
Oct.
Oct.
Holders of rec. Sept.
Holders of ree. Sept.
Oct.
Sept. 21
2
Oct.
5
Oct.
5
Oct.
30
20a
Oct.
Sept. 30,
Sept. 21
to ■' Sept. 30
Holders pf rep. Sept. 30a
Sept. 26,
to
Sept. 30
Sept. 23<i to
Sept. 30
Sept. 20
to
Sept. 30
Sept. 21
to
Sept. 30
Holders of rec. Sept. 26
Holders ol rec .Sept, 30a
Holders of rec. Sept. 23
Holders of rec. Sept. 25a
3
Oct.
Holders of rec. Sept. 30«
2
Oct.
Holders of rec. Sept. 30a
Oct.
Holders of rec. Sept.
Oct.
Holders of rec. Sept. 20a
Oct.
Holders of rcc. Sept.
Oct.
3
2
Oct.
3
Oct.
'
24
Oct.
4
Oct.
4
Oct.
...
:
_
A
__
to
Companies.
Bankers
(quar.)
Brooklyn (quar.)
...
Central (quar.)...
_
26a
22a
25a
30
20
24 a
1
Sept
Holders of
Holders of rec. Sept.
9a
Holders of rec. Sept. 15a
Commercial of New Jersey (quar.)
4
Oct.
Sept. 27
Oct.
Empire (quar.)
24
Sept.
Holders of rec. Sept.
Oct.
Holders of
Equitable (guar.)....
6
Sept.
Holders of rec. Sept.
Oct.
Holders ol rec. Sept. 22a
6
Sept.
Holders of rec. Sept. 24,
2
Minn. St. P. & S. S.M., com.&pf.(No.21)
Holders of rec. Sept.
Oct.
IX
IX
3X
-----
Oct.
1
pref. (quar.)
(quar.).
Lackawanna RR. of N. J.
Maine Central (quar.)
Manhattan Ry. (quar.)
2
Washington Heights, Bank of (qUar.)
Trust
Sept.30(
24
r
2
9
14
to:
24
Sept. 30
3
Park, National (quar.)..
Holders of
Sept. 21
.
to
4
_
New Netherland
Oct.
Oct.
19,
September 30;
Oct.
5
rec.
Oct.
2X
_
10
5a
Holders of
2
(quar.)
_
5
_
Oct.
Georgia RR. A Banking (guar.)
Fitchburg, preferred
_
....
Holders of rec. Sept.
2
(guar.)
Holders of rec. Sept. 30a
Oct.
_
Sept.
1
Chesapeake & Ohio (quar.)...
Chicago A North Western, com. (quar.).
Preferred (quar.)
Colorado & Southern, com. and pref....
Holders of rec. Sept. 30a
Oct.
24
14
(guar.) z
(guar.)
Brooklyn (quar.)__^__
Flatbush, Bank of^Brooklyn (guar.)......
Fourth National (quar.).'.
Garfield National. (guar.)
Gotham National (quar.)
Greenwich (quar.)
Hanover National (quar.)
Irving National (quar.)
■
Liberty National (quar.)
Manufacturers' National, Brooklyn (guar J
Market A Fulton National (quar.)..
Metropolitan (quar.).....
Mount Morris (quar.) (No. 55)
Nassau National, Brooklyn (quar.)..
....
IX
IX
2*
Brazil Railway, preferred (quar.).......
&'Western
Oct.
2
(quar.)
Boston Revere Beach & Lynn (quar.)....
Delaware back.
Holders of rec. Sept. 23a
Oct.
3
IX
Beech Creek, guaranteed (quar.).
Belt RR. A Stk.Yds., Indianap., com.
Oct.
3
First National,
When
Cent.
Name of Company.
7
First Security Co.
First National
Per
2
Sept.
Holders of re
Oct.
Sept. 16 "
Sept. 28
to
Oct.
1,
to
Oct.
1
to
Oct.
1
to
Sept. 30j
Sept. 30
304Sept. 30
rec.
30a
Sept. 15a
Columbia-Knickerbocker
5
(quar.)
Guaranty (quar.)
v
rec.
to
Sept.
Sept.
.
Sept. 24
Oct.
Holders of rec.
Newark & Bloomfield
3
Oct.
Holders of rec. Sept. 22a
Lawyers" Title Ins. A Tr. (qu.) (No. 60).
2
N. Y. Central & Hudson River (quar.)..
New York & Harlem, com. and pref....
IX
Oct.
Holders of
rec.
Mechanics' of New Jersey
5
Oct.
2
Oct;
Holders of
rec.
5
Oct.
IX
Oct.
Holders of rec.
Metrdpolltan (quar.) (No. 67)___
6
Sept.
1H
Sept.
Holders cf rec.
14
Oct.
Oct.
Holders of rec.
Mutual Alliance (quar.)
Mutual of Westchester County
Sept. 28
Sept. 20
Sept. 26
14
Oct.
Holders of rec. Sept.
8
Sept.
Sept
Sept. 21
5
Holders of rec.
Sfept. ,22
4
Oct.
Sept. 26
Sept.
Holders of rec. Sept.
Oct.
Holders of
Sept. 30
27
Sept. 25
Leased line certificates.
....
N.' Y. Lackawanna A Western (quar.)..
N. Y. N. H. & Hartford (quar.)
Norfolk Southern (quar,) (No. 12).
1*
Sept. 20a
Sept. 19a
Sept. 22aSept. 15a
Sept. 9a
Sept. 15a
Extra
Extra J
(quar.)
......
Nov.
Holders of rec. Oct.
Northern Pacific (guar.)
....
Northern RR. of New Hampshire (quar.)
IX
Nov.
Holders of
14
Oct.
Union
Philadelphia A Trenton (quar.)..".
24
Oct.
Holders of rec. Sept.
8a
to
Oct.
10
Oct.
1
Pittsb.
14
Oct.
Holders of rec. Sept.'15
Holders of rec. Oct. 15
(quar.)..
Washington (quar.)....
Hanover (guar.) (No. 128)
Miscellaneous.
Norfolk A
\Vestern adj. pref. (quar.)....
Bessemer A
Lake Erie, com
Pitts. Cin. Chic. A St.
Oct.
31a
10
}X
pf.stk.tr.ctfs.(qu.)
Holders of rec. Sept. 23a
Sept.
Sept. 21
1
St. Louis Rocky Mt. & P.,pf.(qu.)(No.5)
St. Louis & Sah Francisco—
Holders of rec, Oct,
Oct.
IX
...
Nov.
1
....
Oct.
2
L., com. A pf.(gu.).
Reading Company, common
Second preferred (quar.)
K. C. Ft; S. A M.,
rec.
Oct.
to
28a
Sept. 29
Oct.
1
to
1 Sept. 17
15 Holders of rec. Sept. 30a
St. Louis Southwestern, pref. (quar.)
Southern Pacific Co. (quar.) (No. 28)—
1
Oct.
14
Oct.
I Holders of
rec.
Aug. 30a
Southern Railway, preferred
24
Oct.
30 Holders of
rec.
Oct.
Southern Ry., M. & O. stock tr. ctfs_.__
Union Pacific, common (quar.)
2
Oct.
1 Holders of
rec.
24
Oct.
1 Holders of rec.
Sept. 15a
Sept. 2a
Sept. 2a
Sept. 30
Preferred..
2
United N. J. RR. A Canal, guar, (quar.)._
Warren
West Jersey & Seashore
Wisconsin Central, preferred.
....
Oct.
1 Holders of
rec.
to
7
34
$1.25
2
Oct.
10 Sept. 21
Oct.
15 Holders of
rec.
Oct.
Oct.
1 Holders of
rec.
Oct.
24
1 Holder-) of rec.
Sept. 15a
Sept. 8a
•
6a
-^Street and Electric Railways.
IX
(gu.)_.
Augusta^-Aiken Ry. & El. Corp., pf.(qu.)'
Aurora Elgin & Chic. RR., com. (quar.).
Preferred (quar.)...
Bangor Ry. A Elec., pref. (qu.) (No. 8)_.
Boston Suburban Elec. Cos., pref. (guar.)..
Brazilian Trac., Lt. A Pow., Ltd. (qu.).
Brooklyn Rapid Transit (quar.)..
California Ry. & Pow., prior pref. (quar.)
Capital Traction, Wash;, D. C. (quar.)..
Carolina Power A Lt., pref. (qu.) (No. 18)
Chicago City Railway (quar.)...
Chippewa Vail. Ry., L. A Power, com. (gu.)
Cine. Newp. A
Coo, Lt. A Trac., com. (gu.)
Preferred (guar.)..*
—
Cincinnati Street Ry, (quar.)...
City Ry.; Dayton, Ohio, com, (guar.)......
Preferred
_
Oct.
15 Holder! of rec.
IX
X
Sept. 30 Holder! of rec. Sept. 15a
Oct. 24
Oct. 10 Sept. 26
to
Oct. 24a
Oct. 10 Sept. 26
to
1 Holders of rec. Sept. 20
Oct.
1
Oct.
IX
Oct.
1 Holders of
14
Oct.
1 Holders of rec.
IX
Oct.
1 Holders of rec. Sept. 20a
IX
■
1 Holdert of rec.
14
IX
Auburn A Syracuse Elec. RR., pref.
Oct.
14
/Ashevllle Power & Lt., pf. (qu.) (No. 6)..
Oct.
1 Sept. 15
Sept. 30
to
1 Holders of rec. Sept. 23a
24
2
14
14
Sept. 30 Sept.* 17
Oct.
,
Oct.
15 Holders of rec. Oct.
i
Oct.
15 Oct.
Oct,
15 Oct.
rec.
to
1
Sept. 15
Sept. 9
Sept. 21
October 1.
1
to
(quar.)
(quar.)
U. S. Mtge. & Trust, (quar.)
Ffre
_
...
'
........ ______
_.....
*
6
...
4
Oct.
Aeolian, Weber Piano A Pianola, pf.(qu.)
Alliance Realty (guar.).........
Amer. Agric. Chem., com. (quar.) (No. 8)
14
to
to
reo.
IS ept.
22
oto
Sept. 30 Holders of
rec.
Oct.
2,
Sept. 25
2m
Oct,
15 Holders of
rec.
Oct;
1.
Oct.
15 Holders of
rec.
Sept. 26a
Oct.
15 Holders of rec. Sept. 26a
1 Holders of rec. Sept. 15a
American Beet
14
14
14
1 Holders of
rec.
Amer.
14
Sept. 30 Holders of
Sept. 30 Holders of
rec.
Preferred (quar.) (No. 33)
American Bank Note, pref. (quar.)
_____
Sugar, pf. (qu.) (No. 57)
Brake Shoe A Fdy., com. (quar.).
Oct.
Oct.
4
Sept. 17a
Sept. 20a
Sept. 20a
Sept. 18a
Sept. 11a
Sept.11a
Sept. 25a
Sept. 15a
Sept. 30
(quar.)
American Can, pref. (quar.).......
Amer. Car A Fdry., com. (qu.) (No. 44)
Preferred (quar.) (No. 58)
American Chicle, pref. (guar.)
2
4
Oct,
Holders of rec.
14
14
Oct.
Holders of rec.
Oct.
Holders of rec.
American Cigar, pref. (quar.)
Amer. Coai Products, common
Preferred (quar.)
14
Oct.
Holders of rec.
14
14
Oct.
Sept. 26
Oct.
Oct.
Oct.
Holders of
rec.
Aug. 30a
Oct.
Sept. 21
to
Oct.
1
22
to
Nov.
2
Preferred
American
(quar.)..
Express...
Amer. Gas & Elec., com.
(quar.) (No. 14)
Referred (quar.) (No. 27)..
Amer. Iron A Steel Mfg., com.Apref.(qu.)
Amer. La France Fire Eng., Inc.,pf.(qu.)
American
Locomotive, pref.
American Malt Corporation,
American Mailing Co.,
(quar.)__.
preferred
$3
2
Amer. Pipe & Construction Co. (quar.)..
American Pneumatic Service, 1st pref—
Oct,
15
preferred.
Amer .Power A Light, pref. (guar.) (No. 16)
15
Amer, Public Utilities, common
.......
Oct. 15
Holders of rec.
14
Oct.
Nov.
21 Sept: 23
Oct.
to
3 Holders of rec. Oct.
21
2
Nov.
3 Holders of rec. Oct.
16
14
Oct.
14
Oct.
1 Holders of rec. Sept. 15
Oct.
1 Sept, 25
to
J
1
Oct.
34
14
Sept.30 Sept. 11
tQ
Sept. 30 Sept. 11
Oct.
1 Sept. 26
Oct.
1 Sept. 16
,.to
14
Oct.
Sept. 30
to
Sept. 30
American Radiator, common (quar.)....
2
to
Sent,. 30
American Screw (guar.).
24
l.2
to
Oct.
to
(quar.)..
to
11
Nov.
to
(quar.)..
Holders of rec.
Oct.
Oct,
1
Prelerrcd
rec.
14
14
14
$1.24
preferred
American Manufacturing (quar.) (No. 66)
American Piano, pref. (guar.) (No. 21)..
Second
14
17
1 Sept.
to
Insurance.
30 Sept. 21
Sent. 30 Sent. 21
Oct.
I*sept.
14
Sept. 23a
Sept. 30a
New York
Title Guarantee A Trust (quar.)
.
X
-14
Holders of rec.
Oct.
,
Sept. 20a
Sept, 22a
16
1 Holders of rec. Sept. 15
to
Sept. 16
Sept. 16
Sept. 30
to
Sept. 30
1 Sept.,16
•to
Sept. 30
to
Sept. 30 Sept. 23
Sept.- 80Sept. 30 Holders of rec.
Oct.,
"
860
CHRONICLE
THE
Per
Name
of
When
Cent.
Company.
Payable.
Closed.
Books
Miscellaneous (Continued).
American
Seeding Madhine,
Oct.
(quar 4
■
Amer. Smelters Seour..pf,A(qu.) (No. 36):
Preferred. B (qUar.) (No.?4)
American Souff, common (quar.)
15 Holders of rec. Sept.
15 Holders
of reo. Sept.
1
Oct.
IK
IK
Oct.
Oct.
1
3
Oct.
1 Holders of rec.
IK
Oct.
to
Sept. 20
to
Sept. 30 Holders of
American Sugar Re*g., com. & pref. (qu.)
American Surety (qtiar.) (No. 97)—.T—
AmerJicao Telep. & Teleg. (qqar.)
American Tobacco, pref. (quar.)
American TypeFounders, com. (quar.)--
2*
—.
Associated 0C1
Oct.
15 Holders of
rec.
Oct.
7
Massachusetts Gas Cos., common
(quar.)
Massachusetts Light'g Cos.(qu.) (No.
IK
IK
IK
Oct.
16 Holders of
rec.
Oct.
la
May Dept. Stores, pref.
IK
Oct.
Oct.
Oct.
rec.
Oct.
Oct.
7
7
40)
1
Oct.
15
Sept. 26
to
Oct.
to
Oct.
14
IK
Oct.
1
IK
Oct.
1 Holders of rec. Sept. 20a
1
Sept. 30 Holders of
Oct.
Holders of
2
1*
Oct.
Holders of rec.
Oct.
IK
IK
Holders of rec.
Oct.
Holders of fee
Sept. 30a
Oct.
Holders of
rec.
Oct.
Holders of rec.
d IK
Oct.
Sept. 24
Oct.
IK
Oct.
3K
Oct.
IK
Oct.
IK
Oct.
IK
Oct.
to
Holders of
Oct.
IK
IK
IK
Oct.
IK
2
— ,
15
New York Mortgage &
15
New York Transit
Sept. 10a
Sept. 30a
Nlyissing Mines
Sept. 10
Holders of
rec.
Sept. 15a
to
Holders of
rec.
Oct.
Holders of
rec.
ree.
Sept. 15a
Sept. 25
Oct.
Holders of
Holders of rec.
Oct.
IK
IK
Oct,
Holders of
rec.
Oct.
Holders of
rec.
Sept. 20
Sept. 15
IK
IK
Oct.
Holders of rec. Sept. 15
Holders of rec. Sept. 15
Cluett .Peabody&Oo .,Inc. ,pf. (qu.) (No .3)
Columbus (O j Gaa & Fuel, pref. (quar.)
Columbus (O^ L., H. & P., com. (qu.)..;
Preferred (quar.).
.J
Commonwealth Edison (stock dividend)
'
10«
Cpmputing-Tabul&ting-Record. Co. (qu.)!
1
Oct.
Consol. Gas. El. L. & P., Bait., com.(qu.)
Preferred
IK
Oct.
Holders of
rec.
3
Oct.
Holders of
rec.
—„
Oct.
Holders of
rec.
Holders of
rec.
Consumers' Power (MIohJ pref. (quar.).
Continental Can, preferred (quar.)
IK
Oct.
Holders of rec.
IK
Oct.
Holders of
rec.
Continental Gas & Elcc. Corp., com. (guar.)
K
Oct.
Holders of
rec.
Preferred (guar.)...
Continental Paper Bag, com. (gu.) (No. 34)
Preferred (guar.) (No. 63)
IK
IK
IK
IK
IK
IK
Oct.
Holders of
rec.
Corn Products Refining, pref. (guar.)
Crucible Steel ol Am., pref. (qu.) (No 40.)
Sept. 30 Holders of
Sept. 30 Holders of
Oct.
Oct.
1
IK
2K
Oct.
IK
IK
.
Oct.
Oct.
1
Oct.
Holders of
,
IK
Oct.
1
1
Oct.
1
Dominion Textile,
Oct.
IK
Oct,
(quar.)
Duluth Edison Electric, preferred (quar.)
duPont(EJ.)deNemours Powd., pf.(qu.)
duPont Interziat. Powder, pref. (auar.)J
IK
Oct.
IK
2K
1
Oct.
2
(quarj
Electrical Securities Corp., com. (quar'.).'
Preferred (quar.)
A.._.
Electrical Utilities, pref. (guar.) (No. 14)
Oct.
IK
Preferred
Oct.
5
i
Oct.
Oct.
Oct.
IK
Nov.
Oct.
l
Oct.
Nov.
Sept. 30 Holders of
Sept. 30 Holders of
1
IK
Oct.
IK
Oct.
2
Oct.
Flreprooiing, com.(qu.)(No.13)
(quar,) (No. 26)
Oct.
Oct.
1 Holders of rec.
1 Holders of rec.
IK
General C3ierdlcal, pref. (quar.)
Gen'l Chemical of Calif., 1st pf. (quar.)..
General Electric (quar.)
Nov. 12
rec.
1 Holders of
1 Holders of
Oct.
10c.
Oct.
IK
Oct.
IK
IK
Oct.
Oct.
1
15
rec.
rec.
Sept
30a
IK
Oct.
IK
Oct.
1 Sept. 16
to
3
Oct.
Sept. 13
to
IK
IK
2K
Sept. 30.Folder8 of
Sept.
IK
Oct.
Indep. 6 A Id CentStores,pf.(qu.) (No. 3)
Indiana Lighting
IK
Oct.
Indiana Pipe Line (guar.)
34
Nov.
Intercontinental Rubber, pref. (quar.)...
IK
Inter. Harvester Corp..com.(qu.)(No.3).
Sept. 30 Sept. 21
IK
Oct.
Inter.Harvester of N.J.,cora.(qu.) (No.15)
International Nickel, common (quar.)...
Preferred (auar.)
l
IK
Oct.
Helme (Geo. W.), common (quar.)
Preferred (quar.)
.......
1
Oct.
2K
IK
International Paper, preferred (guar.)
Dec.
Nov.
K
International Silver, preferred (quar.)..
Preferred (on account of accum.
divs.)
fnternat. Smokeless P. & C., com. (qu.).
Preferred
Oct.
30jHolders of
!5|Holders
of
15|Holders of
15 Holders of
Sept. 20a
rec. Sept. 20a
13a
rec.
to
Oct.
1 8ept. 18
1 Sept. 18
K
Oct.
l Holders of
Dec.
to
Preferred
l?
1 Holders of rec.
Sept.
1 Holders of rec.
Sept.
Oct.
1 Holders of rec.
Sept.
Oct. 31 Oct. 22
to
Oct.
Sent. 30 Sppt. 21
to
Scpf
(quar.)
...
La Belle Iron Works, common
(quar.)...
Preferred (quar.)
Lake of ike Wood* MitHng, com, (bonus)..
IK
2*
2
Oct.
Oct.
Oct.
Sugar,
com.
2Ho1d*rs of
reo.
l.i
Nov. 29 Holdirs of rec. Nov.
Holders of rec. Sept.
Sept. 36 Sept. 10
la
la
9a
Sept. 11
to
Holders of
rec.
Oct.
Holders of
rec.
Holders of
rec.
Sept. 15
Sept. 15
Sept. 15
Oct
1
Sept. 15a
Oct
Holders of
rec.
Sept. 16a
Oct
Holders of
ree.
Sept. 15a
Sept. 36
Holders of
Oct. 26
Holders of
Oct.
Holders of
rec.
Id Holders
Oct.
1
15
Oct.
Oct.
Sept. 3() Sept
1
,
,
Sept. 25
,
rec.
Oct.
rec.
Sept. 17a
Sept. 30
of rec.
to
Holders of
11
-Oct.
7
15
Sept. 18
Sept. 30
rec.
to
Holders of rec .Sept. 13a
Holders of rec
Sept. 13a
Oct.
2
Oct.
.
Holders of
rec
Sept. 15
5
Sept. 16
to
Oct.
Sept. 3C
to
Sept. 36
\ug. 31
vug. 31
Sept. 21
Sept. 21
Sept. 18a
_
IK
Oct.
4
Oct.
IK
Nov.
IK
Oct.
1
Oct.
]
Oct.
Oct.
15
Oct.
10
2
Oct.
15
3
Oct.
$1.50
United Fruit (quar.) (No. 57)
United Gas & Elec. Corp., pref
$1
United Gas Improvement (quar.)
com.
Oct.
13
15j
2
Oct.
Oct.'
87
Oct,
1H
United Utilities, pref. (quar.) (No. 11)..
Utah Copper Co. (quar.) (No. 211...
IK
76c.
IK
\Coke, preferred (guar.).....
1-6
(mthly)
K
.
Oct.
Holders of
rec
rec
Holders of
Holders of
21
rec
15
Sept. 30
Sept. 27a
Sept. 15
.
,
,
Sept. 30a
,
rec
Holders of
1
Oct.
rec
Sept. 16
.
Sept. 16
Oct.
.
Oct.
to
2i
4a
Oct.
rec
to
Oct.
21
to
Oct.
20
to
Holders ol
rec
Oct,
Sept. 30
irjHoldera of
rec
Sept. 30
Oct.
75 c. Oct.
U. S. Smelt., Refg. & Mining, com. (guar.)
Sept. 20a
Sept. 20a
to
Holders of
Sept.
Sept.
Sept.
Sept.
Oct.
IK
Preferred (quar.).. ... ............
U. 8. Steel Corp., common (quar.)
4
Oct.
17-16
rec
31,
Sept. 24
.
to
1
Holders of
1
(quar.)
U. S. Printing of Ohio (quar.)..
Oct.
rec
13
Oct.
IK
IK
U. S. Cast Iron Pipe & Fdy., pref. (quar.)
U. S. Indus. Alcohol, pf. (guar.) (NO. 28)
U. S. Ptg. & Lithographing, 1st pf. (qu.)
Second preferred (quar.)
J
Sept. 30
Holders of rec
Oct.
1
Sept. 30
Sept. 10
.
to
1 Holders of rec
Holders of rec
37Kc. Oct,
(quar.).
rec
to
SSept. 19
1
Oct.
Oct.
50c
United Shoe Machinery, com. (quar.)
16
16
1 Holders of
IK
(guar.) (No. 41)
Union Switch & Signal,com.&pf. (quar.)
Oct.
rec
to
Holders of
1
2K
2K
(quar.).
Union Natural Gas Corp.
Holders of
Holders of
Sept.
,
to
Sept. 16
Oct.
IK
Corp., pf. (qu.) (No. 3)
(quar.)..
Printing of N. J.,
Oct.
IK
—
Carbide
Oct.
3
(quar.)—.
Oct.
5
(quar.)
—
&
Oct.
IK
Subway Realty (quar.).
Sulzberger & Sons Co., pref. (quar.)
Swift & Co. (quar.) (No. 108)__
U. S.
Sept. 15a
,
IK
Extra.....
Preferred
of ree
2
Standard Oil of Ohio
'
Holders
rec.
IK
(quar.)..
15
Sept. 29 Sept.
_
3
to
Sept. 21
to
Oct.
Sept, 30 Sept. 10
Sept. 21
Oct.
to
Sept. 11
Sept. 30
Oct.
Sept. 10
to
1
Oct.
Holders of
Oct.
^Holders of
rec
Sept. 15
Sept. 15
Holders of
rec
Oct.
31
rec
15a
Vacuum Oil
3
Oct.
Van Dyck Estate, preferred (quar.)
IK
Oct.
Vlrqtnia-Caro. Chem., pref. (gu.)
2
Holders of rec. Sept. 30
Sept. 30 Holders of rec. Sept. 23a
Oct.
8
Oct. 15 SePt- 21
to
(No. 72)
,
Oct
2
K
(No. 178).
Westlnghouse Air Brake (quar.)—
Westtnghousc Elec. & Mfg., com. (guar.)..
Preferred (guar.)..
i *
$2
Oct.
Oct.
3
Oct.
IK
2K
Holders of
1
Oct.
Oct.
IK
Oct.
IK
7KC Sept.
reo.
Holders of
Oct.
IK
(quar.) (No. 17)
Holders of rec. Sept. 27
1
1
...
Yukon Gold Co.
Nov.
8
Oct.
Sept. 29
3
Oct.
IK
1
Oct,
Holders of
IK
IK
(quar.)....
Sept. 24
1
Oct.
to
of rec.
2K
*
Weyman-Bruton, common (quar.)
Preferred (quar.)
Willys-Overland, preferred (quar.)
Woolworth (F. W.) Co., pref. (ouar.)._
Oct.
rs
IK
...
(quar.)
1
1
>oid(
2
Utah Gas
Sept. 20a
1
Oct.
IK
Western Electric (quar.)
IK
IK
Oct.
Oct.
Western Union Teleg. (quar.)
Dept. Stores, pf. (qu.)(No.3)
•
Oct.
2K
to.
Sept. 20
1
Oct.
Kayser (JuHm* & Co., common (quar.)..
First and second preferred
(quar.)
Koto Bakery, preferred (guar.)
Kresge (9. 8J) A Go., common
2
Sept. 17
Sept. 21
Sept. 30
2
IK
to
1 Holders of rec.
1 Holders of rec.
1 Holders of rec.
Oct.
IK
2a
(No. 14)
1 Sept. 25
Sept. 17a
IK
Holders of rec. Sept. 17a
Sept. 15a
Utilities Improvement, common
Preferred
(monthly)
Nov. 15 Holders of rec.
Nov. 5
Nov.
1 Holders of rec.
Oct. 22
1 Holders of rec.
Oct.
Sept. 17a
rec.
Oct.
rec.
Oct.
Oct.
rec.
rec.
Sept. 29 Holders of
Sept. 29
rec.
Oct.
to
Holders of
2K
Hblders of
Nov.
rec.
Sept. 30
Sept. 17a
rec.
Holders of
30
18
15
rec.
Oct.
30a
Sept. 30
to
1 Oct.
15
Oct.
13a
ree. Sept. 25a
rec. Sept. 25a
ljNov. 15
15,Holders of
Oct.
50c.
1
Sept. 17
rec.
to
IK
31.50
Oct.
1;Holders of rec. Sept.
1 Holders of rec.
Sept.
1 Holders of rec.
Sept.
l[8ept. 21
to
Sept.
<K
4
Inland Greek Gnat, common (quar.).
Preferred (quarJi
Kansas Gas & Elcc., pf. (guar.)
Kaufmann
Oct.
of ree. Sept. 23a
Oct.
to
Oct.
Sept. 30a
1 Holders of rec.
Sept. 30
1 Holders of rec.
Sept 20a
1 Sept.'21
to
Sept. 30
1 Holders
rec.
1
Sept. 30
Union
Oct.
Oct.
Sept. 30
Sept. 30
rec.
Holders of
Oct.
Sept. 30
Sept. 30
rec. Sept. 19
3
Sept. 27
Oct.
13
3e
Sept. 19a
Sept. 20
Sept. 20
13
2
ree.
rec.
17
2
•_*
rec.
30c.
Gold & Stock Telegraph (quar.)...
Goodrich (B. F.) Co., preferred (quar.)..
Goodyear Tire & Rubber, preferred (guar.).
\ Gorhara Manufacturing, pref. (quar.)...
Great Lakes Towing, pref. (quar.)
Guggenheim Exploration (quar.) (No.43)
Hale & Kflburn, 1st & 2d pref. (quar.)
Hart, Schaffner & Marx, Inc., pf. (qu.)
IS Holders of
Holders of
Underwood Typewriter, com.
Preferred (quar.)...
Nov.
Extra
Oct.
Tobacco Products
3K
31 Holders of
31 Holders of
19
17
1 Sept. 21
to
1 Holders of rec.
Holders of
13
30
1
rec.
13 Holders of
30
Oct.
rec.
Holders of
Oct.
Aug
Oct.
17
Oct.
Holders of
Oct.
Aug.
Oct.
la
Oct.
Holders of rec. Sept. lfa
Oct.
Oct.
IK
IK
Oct.
to
IK
Oct.
IK
1
1
ree,
1 Holders of rec.
Sept. 20
15 Holders of ree
Aug. 30a
1 Holders of rec.
Oct.
jl Holders of
I
rec.
IK
Go Id field Consolidated Mines:.
Sept. 22a
IK
Taylor-Wharton Iron & Steel, common._
Taylor-Wharton Iron & Steel, pref. (qu.)
IK
Preferred
General Gas & Electric, pref. (quar.)
General Motors, preferred..
7a
2Q
Oct.
Oct.
South West Penn Pipe Lines
Standard Oil of Kentucky
Sept. 15
to
15 Holders of
3
2
....
General Baking, pref. (guar) (No. 7)..
rec.
Oct.
Oct.
2
Preferred
Sept. 20/j
Sept. 19
to
Sept. 21*
1 Holders of rec.
Sept. 15
.
.
5
2
Oct.
....
Sept. 17a
Sept. 20
Sept. 25
rec.
2 Holders of rec
15 Holders of rec.
Holders of rec.
15
1
to
20 Oct.
Oct.
South Porto Rico
1 Holders of rec.
Sept. 15
1 Holders of rec.
Sept.. 29a
1 Oct. 26
IK
Emerson-Brantintfham, pref. (guar.)..
Galena-Signal Oil, common (quar.)
Oct.
IK
Southern Utilities, preferred
South Penn Oil (quar.)
1
Holders of
Sept. 30 Holders of
Oct.
Sloss-Sheffield Steel & Iron, pref. (quar.)
Southern Calif. Edison, pref. (gu.) (No. 17)
Southern N. E.
Telephone (guar:).
1 Holders of rec.
Sept 15a
1 Holders of rec.
Sept. 20a
25 Oct. 16
to
Oct. 26
1 Holders of rec.
2
Eastern Light & Fuel (quar.)
Eastman Kodak, common (quar.)
IK
3
A
(quar.)
Safety Car Heat. & Ltg. (gu.) (No. 76)
Sears. Roebuck & Co., pref. (quar.)
Sen-Sen Chiclet (guar.)
Shawlnigan Water & Power (quar.)
Sept. 30
Sept. 30
to
(quar.)..
Preferred
Holders of rec. Sept. 17
IK
—
Sept. 21
to
Oct.
Sept. 30
to
Sept. 16
Sept. 30 Sept. 13
Sept. 30 Holders of rec. Sept. 25
Sept. 26
to
Oct.
Sept. 30
6
Oct.
2 Holders of rec. Sept.
3
Sept. 21
to
Sept. 30
Oct.
to
37KC. Sept. 30 Sept. 10
Sept. 11
Reynolds (R. J.) Tobacco (quar.)
Royal Baking Powder, common (quar.)..
15 Holders of rec.
Sept. 30a
15 Holders of rec. Oct.
la
15 Holders of rec.
Sept. 30a
to
Sept. 30
Second preferred (quar.)
Republic Iron & Steel, pref. (qu.) (No.44)
Sept. 15a
Sept. 16
Sept. 16
...
to
4
15 Holders of rec. Oct.
Sept.21
to
Sept. 30
K
-
Sept. 20a
Detroit Edison (quar.)
Dominion Oanaere, Ltd., common (quar.)
Preferred (qnary
Dom.Steel Co!rp.,Ltd.,com.(qu.)(No. 10)
1
Sept. 24
rec.
IK
IK
IK
....
6a
rec.
Oct.
IK
Preferred (quar.)
$1
Qulncy Mining (quar.)
Ray Consolidated Copper Co. (quar.)..: 37KC.
1
Remington Typewriter, common (quar.).
First preferred (quar.)
IK
Sept. 26
rec.
Oct.
1
Pittsburgh Plate Glass, common (quar.).
Procter & Gamble, preferred (quar,)....
Quaker Oats, common (quar.)
Sept. 26
Oct.
Oct.
Sept. 30 Sept. 11
1
Oct.
to
2
Extra
Sept, 30a
Sept. 20a
Sept,. 20a
Sept. 19
Sept. 20a
Sept. 23
Sept. 23
rec.
Holders of rec. Sept. 27a
Oct.
5
to
Oct. 15
IK
Phelps, Dodge & Co., Inc. (quar.)
4
rec.
16 Holders of rec.
Sept. 30 Holders of
Oct.
Oct.
.....
7
••
Holders of
Preferred (guar.)
Ogilvie Flour Mills, Ltd., com. (quar.)..
Otis Elevator, common (quar.)
Preferred (quar.)
:
Pacific Teleg. & Telep., pref. (quar.)
Pennsylvania Salt Mfg. (quar.)
Pettlbone, Mulliken & Co., 1st pref. (qu.)
Pettlbone, Mulliken & Co., 2d pref. (qu.)
Sept. 11
Sept. 15a
Oct.
Oct.
21
IK
;
North American Co. (quar.) (No. 38)
of rec. Sept. 29a
"Oct.
rec.
Sept
Nova Scotia Steel & Coal, Ltd., com.
(gu.).
Holders of rec. Sept. 15a
16
to
Oct. 26
K
IK
IK
Holders of
Oct.
IK
Extra
25 Oct.
5-12
rec.
Oct.
IK
Niagara Falls Power (quar.)....
rec.
Sept. 30 Holders
Sept. 30 Sept. 10
Holders of
10
rec.
Oct.
rec.
to
Oct.
IK
IK
(
Holders of
Oct.
Holders of
Sept. 30 Sept. 16
K
Security (quar.)..
Holders of
rec.
20 Holders of rec.
15 Holders of rec.
2K
Oct.
Oct.
Holders of
IK
(monthly)
City Investing, preferred (quar.)..
Claflln (II. BJ Co.j com. (guard
Sept. 16a
to
to
Oct.
1
75c.
rec.
1
1
Oct.
|
Preferred
(quar.)
National Sugar Refining (quar.)
National Surety (quar.)
Nevada Consolidated Copper Co. (quar.)
New England Telep. & Teleg. (quar.)...
Oct.
;
2
Sept. 15
Sept. 25
Sept. 6a
Sept. 6a
Sept. 30a
Sept. 30a
Sept. 29
Sept. 30
Sept. 15
Sept.15
rec.
rec.
IK
(quar.)
...
Holders of rec. Sept. 15a
15 Oct.
15 Oct.
Oct.
••
rec.
Preferred
National Lead, common (quar.)
National Licorice, pref. (qu.) (No. 45)__
National Light, Heat & Potp., pref.
Holders of rec. Sept. 20a
10 Holders of rec. Sept. 30a
Sept. 30 Holders of
Cuban-American Sugar, pref. (quar.)
Dayton Power & Light, pref. (guar.)
Delaware Lackawanna- & West. Coal (guar.)
Stamping, pref. (quar.)..
Fireproofing, pref. (guar.)
Nat. Gas, Elec. Lt. & Pow., com.
(quar.)
3
1 Holders of rec.
Oct.
Sept. 30 Holders of
Sept. 30 Holders of
Oct.
National
Holders of rec. Sept. 15
IK
Oct.
Oct.
Nat. Enam. &
Sept. 20
Sept. 20
rec.
15
3 Holders of rec. Oct.
15 Holders of rec. Sept. 25a
1 Holders of rec. Sept. 15a
Nov.
Oct.
Oct.
IK
31
Sept. 13a
reo.
1 Holders of rec. Sept. 13a
15 Holders of rec. Sept. 30a
Oct.
IK
'
__
Sept. 20
Sept. 20a
Sept. 15a
Sept. 15a
rec.
Oct.
2K
Petroleum, preferred (quar.)
Preferred (quar.)
Montgomery, Ward & Co., pref. (quar.).
Mortgage-Bond (quar.)
National Biscuit, com. (quar.) (No.
61).
National Carbon, common (quar.)
Sept. 30
1 Holders of
i
Oct.
2
Mexican
See note k
to
9
16a
30
Michigan Light, pref. (quar.)
Michigan State Telep., com. dk pref. (guar.)
Montana Power, common
(quar.)
Sept. 30
Sept. 14
2K
K
23
Oct.
Oct.
Mexican Telegraph (guar.)
1
Sept. 21
W
*
Extra
10 Holders of rec. Sept. 30
Oct.
—
Mergenthaler Linotype (quar.)
1 Holders of rec.
Sept. 15
1 Holders of rec.
Sept. 26
66
—
(quar.)
McCall Corporation, 1st pref.
(guar.).
15 Holders of rec. Sept. 25
15 Oct.
5
to
Oct. 15
Oct.
20
Mackay Companies, com. (qu.) (No. 33)
Preferred (quar.) (No. 39)
Manhattan Shirt, preferred (quar.)
Manning, Maxwell & Moore, Inc. (quar.)
Manufacturers' Light & Heat (guar.)
7
rec.
15 Holders of rec. Oct.
IK
(guar.).
Central Leather, preferred (quar.).
Central & South Amer. Telegraph (guar,.)..
Central States EI.Oorp.,pf.(au.) (No. 5).
Chic.Junc .Rys.&Un .Stk. Yds. .com. (qu.).:
General
1 Holders of rec. Sept. 17a
Sept. 30 Holders of rec, Sept. 30
1
to
Oct.
Oct. 15
15 Oct.
Oct.
IK
Case (J.
IJ Thresh. Mach., pref. (quar.)
Celluloid Company (quar,)
—4.
Central Goal & Coke, common (qu&r.).._
„•
1 Holders of rec. Sept. 13a
IK
IK
3
V*
(qaar.)—
(quar.)
15 Holders of rec. Sept. 30a
1 Holdor« of rec. Sept.13a
Oct.
15 Holders of rec. Oct.
IK
Canadian Cottons, Ltd., preferred (quar.)
Canadian Gen. Elec., Ltd., com. (quar.)
Preferred
Canadian Locomotive, preferred (guar A
Canadian Westinghouse,Ltd.(qu.)(No.35)
Preferred
Oct.
1
15 Holders of
15 Holders of
Oct.
Electric Storage Battery, com. & pf. (qu.)
IK
(quar.)
Oct.
2
Brooklyn Union Gas (auar.) (No. 60)
Brunswlck-BaJkoOoilender, pref. (quar.)
Buffalo General Electric <gu.) (No. 76)
California Electric Generating, pref. (qu.)
California Retroteum Corp., pref. (quar.)
Cambria Iron
Canadian Car & Foundry, pref. (quar.).
Canadian Cons. Rubber, Ltd., com. (qu.)
.Common (extra).
Oct.
Oct.
i.
pf.(gu.)(No.3)
common
Oct.
Oct.
1
preferred (guar.1.
Chicago Pneumatic Tool (guar.)
Chicago Telephone (quar A
Chlno Copper Co, (quarj
Cities Service, common (monthly)
IK
IK
2K
IK
;
Oct.
Oct.
Sept. 23
2K
IK
MacAndrews & Forbes, common (quar.).
Preferred
rec.
1
to
Oct. 17
20 Oct.
1 Holders of rec. Sept. 23
I Holders of rec. Sept.
20 Holders of rec. Oct.
1 Holders of rec. Sept.
1 Sept. 26
Oct.
to
Sept.
to
1 Oct. 18
Nov.
Oct.
K
IK
Booth Fisheries, pref. (quar.)
Borne, Scrynaser Co.—
British-American Tobacco, Ltd—
Preferrod
1 Holders of rec. Sept. 15a
15 Holders of rec. Oct. 10a
15 Holders of rec. Oct. 10a
15
Sept. 25
to
Oct.
6
Sept. 30 Holders of
Oct.
IK
_
Bethlehem Sted, preferred (quar.)
Bliss (%. W% Of.4 pref. (guarJ)..
Preferred
3
$1.25
IK
_
750.
-
(Wai.r\<fcCk,\sl
Oct.
Oct.
IK
IK
IK
Bell Telephone of Canada (quar.)..fell Telephone etf Pennsylvania (guar.)...
bright
Oct.
2K
2
—
Oct.
2 Holders of rec. Sept.
2a
Sept. 30 Sept. 14
to
Sept. 30
Oct. 16 Holders of rec. Sept. 30a
Oct.
j"
Prejerrod (quar.)
American Woolen, pref. (quar.) (No. 68)
Anpcondtt Copper Mining {guar.) (No. 62)
Associated Merchants, 1st pref. (guar.)...
first preferred (extrc$.
; Second preferred (guar A
Second preferred (ettrfi
Days Inclusive.
(Concluded).
Company, Ltd. (quar.)
Lawyers' Mortgage (quar.) (No. 48)
Lehigh Valley Coal Sales (guar.)
Liggett & Myers Tobacco, pref. (quar.)..
Loose-Wiles Biscuit, 1st pf.
(qu.) (No. 6)
Second preferred (quar.) (No. 6)—
Lorillard (P.), common (quar.):.
Lorlllard (P.), preferred (quar.)
Sept. 13o
rec.
Books Closed.
Payable.
Laurentlde
1 Holders of rec. Sept. 13a
Sept. 20
When
Cent.
Company.
Lanston Monotype Machine (quar.)
La Rose Consolidated Mines (quar.)
30a
30a
Sept. 28
Sept. 28
Sept. 13a
IK
— —
__
of
Miscellaneous
com. (quar.)
Preferred
xcvii
Per
Name
Inclusive.
Days
[Vol.
rec.
Sept. 30
Sept. 30a
Holders of rec. Sept. 13«
Holders of rec. Sept. 13"
Holders of rec. Sept. 22"
J
Holders of rec. Sept. 10
13
10
Sept. 17
Sept. 20
Sept. 19
Oct.
a
20a
27
25a
25a
31
30a
Sent. 20
e
Transfer books not closed for this dividend.
Payable In scrip.
In London
to
to
on or
transferee.
6 Less income tax.
< On account of accumulated dividends,
d Correction.
k Transfers received
before Sept. 17 will be in time to be passed for
payment Of dividend
I Declared
4%,
payable
Annual dividend of 8% declared for
2% each beginning with Jan. 15 1914.
2%
1914
n
Oct.
1
1913
an
2%
Jan.
1 1914.
payable in quarterly installments ol
Payable in stock.
Sept. 27
861
CHRONICLE
THE
1913.]
TRUST COMPANIES.
DETAILED RETURNS OF
regarding
office of the Comptroller of the
Banks.—The following information
National
national banks is from the
Brooklyn
Bankers
U.S.Mtg.&Tr.
Astor
—
TitleGuar.&Tr.
Guaranty
not
securities, the following,
Sales.—Among other
Auction
Exchange, were recently sold at
York, Boston and Philadelphia:
usually dealt in at the Stock
auction in New
By Messrs. Adrian H.
20 Hastings Mfg. Co
Zahn Co
Sq.
Hotel
1,448 Sayles
125 Greely
41
500
Co.,
$70,500
common
Hotel Co., pfd.
250 Greely Sq.
Henshaw & Co., Boston:
By Messrs. Francis
$ per sh.
Shares.
Mfg. Co
3 Pepperell
Mills
4
Peoples
New York
210
Metropolitan
Totals,Average 95,626,0
Shares.
267 Heywood
«fe
Bros.
rights
$ per sh.
Co.,
..$55 lot
50 Auto Safety Sig. Lamp Co.,
$10 each
$50 lot
100 Tramp Consol. Mg. Co»_..$l lot
2,000 Belmont Ext. Mg. Co., $1
each
$4 lot
100 Atlanta Mines Co., $1 each..
15c.
1,000 Tonopah Butte Mg. Co., $1
each
....$2 lot
1 West End Tr. Co., $50 each
100 M
Bank..287K
Bank, $50 each.. 50
Sav. Co., $50
50 Ridge Ave.
5 Central Tr: A
*
60
25 Franklin Tr. Co.,
$50 each.. 54
each
.......
By Messrs. Samuel
SUMMARY COVERING
50,654,0^434,393,i
15
32
6
10
50
BOTH BANKS AND
Week
$ per sh,
pref
95H
Co
200
Ins. Co. of No. Amer., $10 ea. 22
Phila. L. Ins. Co., $10 each.. 10H
Phila. & Trenton RR. Co_»230H
Germantown Pass. Ry_
10534
Capital.
$
Specie.
Loans.
Surplus.
%
Averages,
Banks
...
Trust cos.
com.»377
25 Amer. Pipe & Constr. Co
50
10 Amer. Dredging Co..
100
3 Phila. Bourse, pref., $25 each 12%
4 Phila. Bourse, com., $50 each
3H
2 Fire Association...........330
Bonds.
Per cent.
$1,000 Phila. & Erie RR. 6s, 1920.109^
$3,000 Phila. City 4s, 1942
100
$500 Springfield Water Co. 5s,
1926
92
4 John B. Stetson Co.,
8
+ 10.2
1+
9.6
ntn
aticU
0+12.7
1 + 10.6
15.0+10.4
Total.
Trust cos_
State
returns of
percent.
($1,000 Edison Elec. Lt. 5s, 1946...10534
*
t,350370,0
434,012,0
78,745,0
*1,101,0 t,7*4,582,0
1,354,286,0
Banking
336,335.0
434,333,0
78,04#,$ 50,«**,0 #,7$8,610,0
Department also furnishes
the State banks
the whole
weeklj
its
and trust companies under
State, but the
the institutions of this class
figures are compiled so as to
distinguish between the results
New
Deposits.
w
585,353,0 59,072,0
These returns cover all
charge.
in
Philadelphia:
1,360*833,0 273,608,0
|l,943,833,0
Total...
.»»...
NM
Banks.
1,358,194,0 277,340,0 71.58&0
0,45O;O
685,639,0 68,995,0
Actual.
The
OnDep.
C.H.
Wttft
Legal
S
133,650,0 210,134,2
46,250,0 95,626,0
179,900,0 305,760,2 1,940,186,0 332,680,0
„
TRUST COM PAN 1KB.
Tenders.
Banks
% per sh A Bonds.
Constr. Co
7+10.9
6,369,0 51,101,0 434,613,0 15.0+10.6
Sept. 20.
5 West End Trust
T. Freeman & Co.,
Shares.
8 Amer. Pipe &
32,0 1,445,0
1,094,0 2,503,0 21,930.0
1,035,0 12,623,0 107,067,0
239,0
792,0] 6,755,0
344,0 L247.0 10,849,0
725,0 4,068,0 37,841,0
413,0 1,858,0 14,807,0
307,0 3,304,0 39,709,0
881 n
7,503,0
160,0
211,0
976,Of 8,330, 01
9,0 1,818,0 12,389, 01
538,0 1,355,0 11,474,0
4
.9+ 9.7
0+10.0
0+13.1
2+ 9.6
5+1Q.1
0+10.4
$2,000,000;
$1,-
$ per sh.
Wakefield
.71c.-72c
2 Real Est. Tr. Co.,
$25 each
(old stock)
5 Corn Exchange Nat.
$20,'o
3%3
20,685,639,0 58,995,0 6,459,0
Shares.
Telep.
(Pa.)
$
$
721, O 2,062,rt
207,0 1J.644,0 1(3
334,0 4,625,0s
Bankers',
$1,250,000; Title
Lofland, Philadelphia:
Shares.
-
585,353,0 59,072,0
Average.
The capital of the trust companies is as follows: Brooklyn, $1,600,000;
$10,000,000; United States Mortgage & Trust, $2,000,000; Astor,
Guarantee & Trust, $5,000,000; Guaranty, $10,000,000; Fidelity, $1,000,000;
Lawyers* Title Insurance & Trust, $4,000,000; ColumbtarKhlckerboeker,
People's, $1,000,000; New York, $3,000,000; Franklin, $1,000,000; Lincoln,
000,000; Metropolitan, $2,000,000; Broadway, $1,500,000; total,
ending
340 Somerset
Sept.
Actual figures
Co., Boston:
$ per sh.
Mkt. R. E. Trust.-.93 flat
By Messrs. Barnes &
_
Broadway
3,699,7 23,690,0 2,164,0
14.860.0 126,131,0 15,450,0
4.376.5 36,827,0 4,162,0
1.266.6 18,686,0 1,966,0
35,057,0 2,218,0
11.437.1
23.672.2 164,181.0 15,012,0
670,0
7,395,0
1.330.5
5,614,0 16,182,0 1,366,0
45,460,0 5,002,0
7,125,9
1.543.6 15,670,0 1,822,0
11,993,2 43,583,0 4,168,0
974,0
9,350,0
1,197,3
9,681,0 1,058,0
528,4
6,156,6 21,468,0 1,849,0
824,4 11,992,0 1,201,0
Reserve.
Deposits.
$46,250,000.
u
50 Quincy
$50 each
Plymouth Cordage Co
4 Essex Co.,
108
...»
By Messrs. R. L. Day &
Shares.
$ per sh.
190
Shares.
145 M
294^
13 Bigelow Carpet Co
25 Pacific
50
Col.-Knicker..
Lincoln
Per cent.
Clinton Hall Association
$22
Bank of Manhattan Co
>320
Brooklyn City RR. Co
>160
U. S. Rubber Co., pref. (old
stock)
107H
Shares.
1
LawyersT .I&T
Franklin
Muller & Sons, New York:
Pet Cent.
_$1 per sh
Shares.
Fidelity
$
$
%
$
.
10.444—The First National Bank of Forestville, N. Y.
Capital, $25,000.
J. C. Hutchinson, Pres.; W. E. Candee, Cashier.
(Succeeds
J. C. Hutchinson & Co.. bankers, Forestville, N. Y.)
withC.H.
Legale
Specie.
Average. Average. Banks.
Average.
00s omitted.
NATIONAL BANK SEPT. 13.
CHARTER ISSUED TO
,
Wei
On Dep.
Department:
Loans.
Surplus.
Trust Cos.
Currency, Treasury
for New York City (Greater
of the State, as per the
York) and those for the rest
following:
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 week ending Sept. 20.
The figures for the
Statement of New
separate banks are the averages of the daily results.
In
the case of the totals, actual 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
1607, in the case of the trust companies.
For definitions
are
made
up, see
STATE BANKS AND
Loans and
investments..
Change from last week.
Surplus.
New York....
Manhattan Co
Merchants'—
Mech. & Met.
America
City....
Chemical
Merch. Exch-
Exch»
Commerce....
500,0
983,3
2.250.0
1,333,5
200,0
464,0
3,000,0
2,550,0
1,000,0
1,000,0
2,000,0
14,621,3
2,347,6
People's
Hanover
Citizens' Cent.
Nassau
Market&Fult.
Metropolitan
_
Corn Exchange
Imp. & Traders
»_'._
Park
East
613,8
120,7
1,080,9
4,750,3
17,129.3
5,000,0
25,000,0
-
Chat. A Phen.
4,233,7
4,993,4
2,152,7
8,932,5
6,300,9
31,734,1
7,696,6
600,0
300,0
500,0
...
Pacific
250,0
5,000,0
1,000,0
10,000,0
4,000,0
Second
First
Irving
466,4
1,923,3
1,833,9
6,048,7
7,841,4
14,326,0
64,3
3,000,0
1,500,0
5,000,0
River...
Fourth
•
5,885,6
2,742,1
22,196,2
3,339,4
Bowery
250,0
784,6
N.Y. County.
500,0
750,0
1,959,9
6,000,0
10,096,9
2,172,0
German-Amer.
Chase
Fifth
100,0
Avenue -
German Exch.
Germanla
Lincoln
Garfield
Fifth-...
*
200,0
200,0
1,000,0
1,000,0
250,0
678,3
825,6
1,038,6
1,790,3
1,297,6
491,7
Metropolis
West Side
1,000,0
Seaboard
1,000,0
1,000,0
2,485,9
N. Y. Prod .Ex
1,000,0
State
1,000,0
Security.
1,000,0
925,7
491,6
364,0
Coal & Iron..
1,000,0
1,000,0
1,000,0
Liberty
Average.
Average.
its, Aver.
serve.
S
$
$
»—.
200,0
2,305,8
.888,0
2,787,6
559,0
163,181,300
297,603,900 1,065,703,300.
+ 220,600 + 13,972,300
.
*10,150,000
*9,4?$,
*12,4$3,m
•li,4$5,l$0
175,720,700
+ 219,000
Re¬
$
$
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
25,000,0
3.000,0
Butoh.A Drov.
Amer.
Net Depos¬
Specie
Change from last week.
%
Greenwich.
Legdts.
Average.
Capital.
Banks.
00s omitted.
Specie.
68,400,000
38,804,500
9
'
Loans.
TRUST COMPANIES.
22,950,000
Capital as of Sept. 9
Surplus as of Sept.
various items
Trust Cos.
State Banks
Trust Cos.
State Banks
outside of
outside of
in
in
Greater N. Y.
Greater N. Y. Greater N. Y, Greater N. Y.
Week ended Sept. 20.
banks, and V. 92, p.
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in all cases.
and rules under which the
"Chronicle", V. 86, p. 316.
63,439,900
+ 332,300
114,483,900
+310,900
%
9,904,600
18,564,0 26.1
21,586,500
866,0
3,995,0
Legal-tender A bk. notes.
20,721,0
+2,000
33,550,0 28.2
+ 229,700
7,829,0 1,642,0
Change from last week.
29,450,0
18,010,0 26.1
728,0
3,987,0
18,542,0
183,106,200
127,762,41
340,369,300 1,125,464,000
52,714,0 25.0
Deposits
66,547,0 10,564,0 2,628,0
—376,200
+ 1,32,
+ 8,239,000
20,046,0 25.3
+ 210,700
3,359,0 1,717,0
Change from last week.
21,853,0
25.3
203,401,0 41,726,0 8,130,0 196,506,0
23,547,800
24,073,400
132,195,600
24,684,0 25.3
89,168,700
Reserve on deposits
3,990,0 2,257,0
28,575,0
—741,900
+ 138,900
—29,300
—130,300
6,844,0 26.1
157,0
Change from last week.
1,635,0
6,789,0
1,789,0 28.9
74,0
442,0
1,928,0
13.9%*
16.4%
25.3
27.0%
9,744,0
180,0
P. C. reserve to deposits.
2,290,0
8,728,0
14.3%
16.6%
27.0%
42,219,0 25.4
Percentage last week..
9,094,0 1,640,0
43,378,0
110,077,0 24.0
135,005,0 15,398,0 11,116,0
4,530,0 26.0
737,0
440,0
4,891,0
19,560,0 25.2
3,367,0 1,577,0
19,321,0
■+ Increase over last week.
— Decrease from last week.
* Aa
2,098,0 24.4
152,0
361,0
2,284,0
Note'Surplus'' Includes all undivided profits.
"Reserve on deposits" Includes
78,067,0 26.5
70,888,0 19,246,0 1,499,0
25.7
for both trust companies and State banks, not only cash items but amounts due
20,136,0
609,0
4,566,0
21,677,0
from reserve agents.
Trust companies in New York State are required by law to
12,097,0 25.6
1,060,0 1,441,0
10,964,0
8,874,0 28.3
keep a reserve proportionate to their deposits, the ratio varying according to
833,0
1,682,0
8,840,0
cation as shown below.
The percentage of reserve required Is computed on the
14,043,0 26.0
251,0
3,401,0
13,370,0
62,593,0 25.2
aggregate of deposits, exclusive of moneys held in trust and not payable
8,885.0 6,942,0
62,725,0
22,816,0 24.8
thirty days, and also exclusive of time deposits not payable within thirty days
3,204,0 2,384,0
26,062,0
88,077,0 25.2
represented by certificates, and also exclusive of deposits secured by bonds or
86,845,0 20,574,0 1,688,0
1,424,0 24.8
obligations of the State or City of New York, and exclusive of an amount equal to
112,0
243,0
1,506,0
the market value (not exceeding par) of bonds or obligations of *be State or City
29,176,0 27.4
5,953,0 2,050,0
29,026,0
of New York owned by the bank or held in trust for it by any publie department.
12,145,0 25.1
159,0
2,901,0
13.392,0
The State banks are likewise required to keep a reserve varying aocordihg to locar
97,713,0 26.4
107,241,0 23,418,0 2,472,0
37,001,0 25.7
tion, the reserve being computed on the whole amount of deposits exclusive of time
7,330,0 2,190,0
36,698,0
3,417,0 25.3
deposits not payable within thirty days, represented by certificates
72,0
795,0
3,283,0
to the amendment of 1910), and exclusive of deposits secured (according to amend¬
8,362,0 25.1
713,0
1,394,0
8,309,0
ment of 1911) by bonds or obligations of the City or State of New York, and ex¬
3,868,0 27.4
227,0
833,0
4,031,0
25.6
clusive of an amount equal to the market value (not exceeding par) of bonds 0*
91,020,0 20,840,0 5,018,0 100,966,0
14,067,0 26.3
obligations of the State or City of New York owned by the company e» held in trust
2,664,0 1,049,0
12,433,0
for it by any public department.
3,571,0 25.3
347,0
560,0
3,685,0
—Trust Co*.—
—State Banks5,942,0 25.4
255,0
1,257,0
5,162,0
Reserve Required for Trust Companies
Total
Of - Total
Of
14,924,0 25.7
804,0
3,034,0
14,727,0
and Stale Banks.
.
Reserve
which
Reserve
which
8,837,0 27.1
302,0
2,093,0
8,628,0
Location—
'
Required, in Cash, Required, in15
Cash.
4,014,0 26.0
656,0
390,0
4,017,0
Manhattan Borough
»15'S
11,323,0 24.7
1,694,0 1,108,0
11,887,0
10
4,458,0 24.7
Brooklyn Borough (without branches in Manhat.)15%
296,0
808,0
3,805,0
7
Other Boroughs (without branches in Manhattan) 15%
27,780,0 26.8
5,638,0 1,817,0
23,948,0
20
24,134,0 25.3
Brooklyn Borough, with branches In Manhattan. 15%
330,0
5,786,0
22,372,0
16%
Other Boroughs, with branches in Manhattan... 15%
10,591,0 25.0
422,0
2,219,0
9,118,0
Cities of the first and second class
.....
10%
23,747,0 25.3
401,0
5,617,0
18,388,0
Cities of the third class and villages
10%
14,486,0 23.9
1,300,0
2,173,0
12,218,0
0%
18%
Elsewhere In State
6,720,0 26.3
496,0
6,630,0;
1,275,0
'
at Juma 4.
lo¬
'
within
(according
•
8,306,0
5,960,0
24.4
1350,570,0
Totals, Avge» 133,650,0 210,134,2 1300,833,0 273,608,0 72,376,0
25.6
rate
1358,194,0 277,340,0 71,685,0 .1354,286,0
25.7
trust
<«•
Union
Exch..
Nassau, Bklyn
Actual figures
Sept. 20.
991,0
9.122.0
1.678,0
350,0
1,144,2
7,403,0
1,320,0
182,0
25.2
The Banking
House
the totals for the State Banks an
not in th* Clearin
figures are shown in the table beipw, as ai
companies in Greater New York
House.
of national banks in the Clearing
amounted to $45,168,000, and according to actual figures was $45,114,000.
Circulation.—On the basis of averages, circulation
Department also undertakes to present sep$
figures indicating
These
alsp the results
(both actual and average) for the Clearing
863
THE
CHRONICLE
House banks and
trust companies.
In addition, we have
corresponding item in the two statements
combined each
thus
affording
trust
companies in Greater New York.
NEW
for the whole of the banks
an aggregate
YORK
CITY BANKS
AND
[Vol.
Boston and
of the
and
Philadelphia Banks.—Below
(00) in all these figures.
;
^
Capital
TRUST
Week
ended
Sept. 20-
I embers.
Clear .-House
COMPANIES.
Slate Banks and
Members.
ActualFlgures
Banks.
Total of all
and
Boston.
Trust Cos. Not Banks & Trust
Average.
in
C.-H.
Aver. Cos.
Aug.
Loans.
Specie.
Legals.
Deposits.
Aug.
9
State
Surplus
and
179,900,006
179,900,000
Sept. 9
305,760,200
Loans and Investments..
29,650,000
305,760,200
74,180,500
1,943,833,000 1,946,186,000
Change from last week
9,888,000
379,940,700
561,083,500 5,507,269,500
+ 9,619,700
+2,598,700
—7,021,000
1,788,619,000 1,784,582,000
week
209,5/50,000
0565,583,600 5,350,165,600
+ 9,831,800
+ 1,706,800
—6,876,000
—8,125,000
336,335,000
+ 5,427,000
332,680,000
+ 1,660,000
63,654,300
+ 166,500
396,334,300
+ 1,826,500
78,044,000
—1,990,000
78,745,000
+ 29,000
68,005,500
+49,100
345,984,000
25.61%
12,725,400
13.88%
358,709,400
Trust Cos.; cash in vault.
65,454,000
65,441,000
58,934,400
414,379,000
+ 3,437,000
411,425,000
+ 1,689,000
71,659,800
+ 215,600
483,084,800
+ 1,904,600
50,654,000
—5,089,000
51,101,000
-4,000,000
16,678,800
—750,000
462,526,000
—2,311,000
88,338,600
—534,400
Specie
__
Change from last week
Legal-tenders
•
Change from last
week
Banks: cash in vault.
_
Ratio to deposits
Money
on
deposit
Change from last week
Total reserve.. .'
4
+ 78,100
60,735,0
372.970,0
90,313,0
9.
103.684,3
♦409,904,0
16.
103,684,3
103,684,3
103,684,3
103.684,3
103,684,3
103,684,3
374,391.0
372,752,0
370,140,0
372,246,0
375,194,0
378,455,0
377,929,0
88,027,0
90,470,0
92,851,0
*404,378,0
*407,637,0
*408,247,0
*413,818,0
*418,260,0
*417,746,0
*425,334,0
30.
Sept.
Sept.
Sept.
6.
13.
20.
60,735,0
Phils.
Aug.
Aug.
Aug.
Aug.
23.
Aug.
30.
Change from last
259,772,0
258,517,0
263,016.0
9,558,0
137.742.0
9,351,0
128,268,2
9,387,0
136.780.4
'262,985,0
260,435,0
9,449,0
9,623,0
264,020,0
267,653,0
269,935,0
9,756,0
9,971*0
9,893,0
11,305,0
11,303,0
11,324,0
11,322,0
11,325,0
11.304,0
11,320,0
11,316,0
130,225,9
111.521.7
118.804.1
138,350,1
140.839.5
161,528,9
143.647.1
138.338.2
week
304,050
Total
10,657,550
+ 5,226,700
Change from last week
% of cash
on
Total
+Increase
For Week.
17.18%
members, the deposits
are
The averages of the New York
\-
City Clearing-House banks
cpmpare as
follows for
a
series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST
COMPANIES IN
$16,229,575
statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Sept. 20 and from Jan. 1 to date:
a
»
EXPORTS FROM
NEW
YORK.
1913.
Previously reported
Total 38 weeks
...
1912.:
1911.
1910.
$14,561,782
632,698,503
For the week.....
and trust companies, combined with those for the
State banks
and trust companies in Greater New York
outside of the
$17,750,394
582,827,072
$14,907,721
546,738,936
$12,093,483
469,472,608
$647,260,285j$600,577,466j$561,646,657|$481,566,091
The
following table shows the exports and imports of
specie at the port of New York for the week ending Sept. 20
and since Jan. 1 1913, and for the
corresponding periods in
1912 and 1911:
GREATER NEW YORK.
;
....
.
We
omit
two
ciphers
(00) in
all these
figures.
Loans and
Week Ended-
Investments
Deposits.
Specie.
Legals.
$
.%
$
2.479.832.8 2,345,903,3 407.142.5
2.472.979.9 2,342,690,7 411,286,8
2.464.351.2 2.331.766.7 416.512.8
2.462.176.6 2.325.334.5 413.640.9
2.469.038.7 2,330,546,9 413.214.3
2.469.329.3 2.333.371.3 412,417,1
2,492,013,6 2.348.392.4 405.919.4
2,515,225,6 2,365,812,1 398.872.6
2.504.670.8 2.348.458.8 394,507,8
2,507,269,5 2.350.165.6 396,334,3
19...,
26...,
2
9
July
Aug.
Aug.
16
Aug.
Aug.
23
Aug.
30....
Sept.
6....
Sept.
Sept.
13....
20_...
Holdings.
onDeposU
IMPORTS
$
'
584,407,2
592,979,2
594,713,6
582.409.5
581,848,4
582,826,1
579,187,1
561,844,0
553,710,0
550.864.6
Great
France._w„.,
Germany _•
Week.
$43,575,270
Mexico1
:
South America.:
Total
On
Deposit
203,084
259,245
61,820
22,448,389
1,716,515'
1913.......'.
........'$68,768,196
$26,587; 32,662,935
157,920.
3,262,661
Total 1912
Britain.
62,065
$591,613 $15,559,552
634,899,
596,109
and
and
with
$920,656 $31,530,823
57,077
4,702,961
_.....
plus.
Invest¬
Bank
C.-H.
37,651
"2"092
"7",909
167,325
43,847
70,841
1,000
America.
Notes.
Banks.
Specie
New York City.
.....
... ......
Columbia
Fidelity
Mount Morris.......
Mutual
New Netherland
Twenty-third Ward..
Yorkville.
100,0
200,0
500,0
400,0
300,0
200,0
250,0
200,0
200,0
200,0
100,0
357,3
117,9
500,3
681.8
728,3
178,3
338.3
464.4
320,6
104.4
498.5
1,736,0
,149,0
1,522,0
309,0
6,576,0
531,0
6,533,0 1,033,0
5,773,0
554,0
1,053,0
2,309,0
4,785,0
3,354,0
1,970,0
4,431,0
50,0
112,0
62,0
370,0
216,0
438,0
115,0
Manufacturers' Nat..
...
National City
North Side
300,0
252',0
1,000,0
241,0
655,0
61,0
336,0
134,0
300,0
200,0
Jersey City.
First National
400,0
1,398,4
250,0
200,0
First National.
220,0
Second National.....
125,0
Hudson County Nat.
Third National......
1,961,320
1,172,178
$284,923; $7,531,788
1,358,403" 41,267,685
656,981,
4,199,519
36,092,542
132,740,
179,869
6,897,669
5,393,878
41,0
341,0
543,0
136,0
151,0
588.0
926,0
1,643,0
901,0
385,0
4,915,0
3,302,0
2,133,0
.4,894,0
3,265,0
4,998,0
12,480,0
4,677,0
2,705,0
imports for the week in 1913, $21,995
coin,
iatiMug ami ffitmwciai.
115 Issues of Listed Stocks
The
Issues
are
classified by us as follows:
Investment, SemiInvestment, Speculative.
Investors interested in stocks can obtain
copy of this circular free of charge by sending for Circular
614,
"Railroad and Industrial Stocks."
a
Spencer Trask & Co.
43
EXCHANGE
Albany
825.9
433,9
269,0
222,0
110,0
221,0
53,0
139,0
1,360,0
528,0
572,0
4,377,0
3,297,0
204,0
199,0
61,0
39,0
514,0
545,0
1,614,0
1,781,0
84,959,0 8,603,0 3,915,0 12,141,0
84,180,0 8,670,0 4,039,0 11,356,0
10,871,3
82,944,0j8,417,0 3,916,0 12.724,0
78,337,0
77,586,0
76,104,0
PLACE—NEW YORK
Boston
Chicago
3,009,0
1,607,0
1,497,0
667,8
288,8
were
American gold coin and SI ,982 American silver
1,485,0
1,500,0
5,947,0
6,680,0
6,341,0
979,0
2,528,0
4,329,0
3,248,0
2,461,0
Hoboken.
Totals Sept. 20
0,097,0 10,824,6
Totals Sept. 13..*. 6,097,0 10,871,3
Totals Sept.
0
6,097,0
946,0
105,0
356,0
497,0
386,0
233,0
581,0
706,1 3,971,0
392,0
928,1
5,609,0
390,0
527.4 10,315,0 1,389,0
676.5 4,665,0
559,0
181.6 2,645,0
190,0
193,0
113,0
311,0
571,0
107,0
297,0
569,0
175,0
242,0
Brooklyn.
First National
$978,733 $36,280,544
...
1912........
Of the above
$
Manhattan and Bronx.
Washington Heights.
Battery Park Nat
Century
1,200
Deposits.
ments.
$17,383
62,485
23,024
95,879
$818
Net
tal.
17,051,627
11,388,482
Germany
West Indies
Total
Sur¬
1,002,835
8,886,275
3,198,181
1,478,299
Silver.
Great
France
Total 1911.
Capi¬
$47,821
938,016
8,125
$5,399
714,000!
308,851'
V
5,171.
All other countries...
Total 1913.
Legal
Tender
;
Since Jan. 1
,
All other countries...
Loans,
+
YORK.
Britain
West Indies.....
South
We omit two ciphers (0Q) In all these
figures.
Disc'ts
'
Imports.
Since Jan. 1
Mexico
results:
Banks.
■
NEW
,
92.313.5 499,456,0
-92,870,8 504,157,"6
88.489.6 505,002,4
87.096.4 500,737,3
87.161.7 500.376.0
88.050.5 500,467,6
88,048,2 493,967,6
86,730,5 485.603.1
86.672.4 481.180.2
86.750.5 483,084,8
Reports of Clearing Non-Member Banks.—The follow¬
Mechanics'
AT
Exports.
Week.
ing is the statement of condition of the clearing non-member
banks for the week ending Sept.
20, based on average daily
..
SPECIE
Gold.
Total 1911.
Colonial.
OF
EntireRes
$
.
July
EXPORTS AND
TotMon'y
1910.
$3,037,192
13,192,383
$713,500,508^730,677,152 $634,606,471($677,216,454
following is
"legal net deposits" both
6 Includes bank notes.
1911.
$2,985,065
16,633,730
$18,263,300, $19,196,338! $19,618,795
15.82%
1.36%
The
the average and the actual
figures.
1912.
$3,307,453
15,888,885
.
$111,468,737 $108,465,347 $102,799,599 $116,002,118
602,031,771i 622*211,805 531,806,872 561*214,336
(general merchandise....
over
Clearing House,
1913.
$3,036,965
15,226,335
Total.
+4,083,950
were
•;
—2,845,500
Since January 1—
Dry goods
25.60%
$13,180,000.
FOREIGN IMPORTS AT NEW YORK.
550,864,600
last week.
—Decrease from last week.
a These are the
deposits after eliminating the item "Due from reserve
depositories
and other banks'and trust
companies in New York City;"'with this item
included,
deposits amounted to $622,030,800, an increase of
$5,738,500 over last week.
In
the case of the Clearing-House
or
as
Imports and Exports for the Week.—The
following are
imports at New York for the week ending Sept. 20; also
totals since the
beginning of the first week in January:
8,341,500
339,200
15.07%
10.53%
25.51%
...
include the item "Exchanges for
Clearing House," which
Total 38 weeks
15.07%
10.44%
dep. with bks.
now
September 20
on
the
reserves of trus t cos—
Cash in vault
Cash
,
"Deposits"
67,779,800
8,680,700
147.564.0
140.626.8
147.954.9
142,125.9
160.306.1
a Includes
Government deposits and the item "due to other banks."
At Boston
Government deposits amounted to
$1,473,000 on September 20, against $1,386,000
September 13.
Dry goods
General merchandise.
10,353,500
Trust cos.(above 15%)
93,828,0
93,178,0
92,083,0
96,839,0
on
*
Surplus CASH
reserve—
Banks (above 25%)...
Sept.
6.
Sept. 13.
Sept. 20.
reported
with
other bks. & trust cos.
i
$
103,684,3
Aug.
16.
-4,750,000
465,033,000
—1,652,000
$
2.
23.
124,375,400
Aggr'te money holdings..
Change from last week
$
27,763,0 3,709,0
26,950,0 3.625.0
26,321,0 4,054,0
26,928,0 3,986,0
27,530,0 3,877,0
26,130,0 3,863,0
26,747,0 3,806,0
27,577,0 3,583,0
Clearings.
86,750,500
348,925,000
25.76%
$
,
60,735,4
60,735,4
60,735,4
60,735,4
60,735,4
60,735,0
222,963,0
222.551,0
223,121,0
225,771,0
226,250,0
228.581,0
233,075,0
234,266,0
Aug.
Aug.
banks
Deposits
Change from last
9.
Circu¬
lation.
a
$
2.
Aug.
Average
National banks
Capital
summary
Philadelphia:
anc
Surplus.
Clear.-House
a
weekly totals of the Clearing-House banks of Boston
We omit two ciphers
*
is
xcvii.
White, Weld & Co.
\*
;r >Bonds and Investment Securities. ?;
14 WALL STREET
NEW YORK
'}
THE ROOKERY
CHICAGO
u'.-
111 DEVONSHIRE STREET
,•v
^;
BOSTON
'
v
Sept.
THE
271913.]
ABSTRACT FROM REPORTS OF THE
"
■■■
Banks.
Maine
......
'
1111111
■"
1
1■■
■■■ ' 1
m-*
■
'
Loans,
Gold, and
Jndividua<
Other,
Gold Cl'o-H
Treasury
D seounts.
Certificates
Certificates
■ ■■'
AUG. 9 1913.
SVver
Gold
and
Capital,
-
'■
NATIONAL BANKS MADS TO THE COMPTROLLER
Deposits.
No. o/
August 9 1913,
863
CHRONICLE
I
""
"
'
1
Silver,
Leyat-
Treasury
Pender
Certificates
Notes
...
Hampshire
New
Vermont
.....
Massachusetts
.......
....
Boston
Rhode Island
..........
Connecticut
New
New
England States
....
York.
Albany
Brooklyn
......
......
New York City.............
New Jersey
...........
....
Pennsylvania
Philadelphia
Pittsburgh
......
.....
...............
.................
Delaware
Maryland
................
Baltimore
...........
District of Columbia
Washington
.............
..........
States
Eastern
.....
Virg'nia... ....... ...........
West Virginia..........
....
North
Carolina...............
South
Carolina
............
Georgia..
..........
Savannah..................
Florida
Alabama...*.......—.......
Miss'ssipnl
..............
Louis'an a.
............
Orleans
New
Texas.
.........-
...................
Dallas
Worth
Fort
Galveston...
.......
.....
Houston
..............
San Antonio................
Waco
..
Arkansas-
Kentucky
...
Louisville
Tennessee
........
Southern States
3,717,535
Ohio.....
*
Cincinnati
Cleveland..................
1,585,725
1,995,057
710,065
1,764,847
1,205,997
3,239.480
28,924,263
1,881,213
3,080,323
1,163,948
1,112,050
990,602
1,841,063
1,566,161
1,666,491
306,315
331,140
159,507
470)088
546,370
1,606,171
163,540
7,698,425
.
Columbus...
Indiana
Indianapolis..,
Illinois
Chicago..........
.......
Michigan..
............
......
Detroit..
Wisconsin
1
Milwaukee
Minnesota-
Minneapolis
Paul
St.
Iowa
—.
Cedar Rapids.......
Des Moines.—————
Dubuque
Sioux
City—.......
Missouri
...
—
Kansas
City ................
St. Joseph
St. Louis
......
—
...
,
67,728,391
Middle Western States
North Dakota..
South Dakota
Nebraska
.............
Lincoln
Omaha
—
South Omaha
...........
Kansas-...........—........
Kansas City.....
...—.;
Topeka
.........
Wichita..
Montana
—..
Wyoming
.....—..
......
Colorado.
.....
Denver.......———..
.......
Pueblo
................
New Mexico
Oklahoma
-
Muskogee
Oklahoma City
Western
...
States
Washington
——
i..
Seattle.....——.——.
Spokane
Tacoma
Oregon
Portland
California
Los
—.......
Angeles.....
San Francisco
Idaho.
Utah
Lake
Salt
City
Nevada
t
.......
...
....
Arizona.....................
Alaska
i............
Pacific States
Hawaii
...
(Island Possessions)...,
Total United States
♦
One report for June 4 used
Totals for
Reserve
dbc
Cities,
In Millions.
Loans, disc.,&c. 190
U.S. bonds
12
Stocks,bd8.,&c.
Real estate, &c.
21
7
Due from banks
Nat. bank notes
Gold
62
3
22
Silver
5
Lega. tenders..
Other
resources
Totals
4
7
333
Capital
Bur. <fetm. proi.
28
34
Circulation
10
Due to banks..
84
Due
depositors- 173
4
(Other liabilities
jt, '*.»'* V '
I
'.4
• -
'*■ 41
Totals..*... 333
5,526 10,877
612
511
484
261
3,560
98
1,056
985
7241
2.102,
5.838
165,
5,52610,877I
864
THE
CHRONICLE
[VOL.
ABSTRACT FROM REPORTS OF THE
NATIONAL BANKS MADE TO THE
COMPTROLLER JTJNE 4,
No. of
Capital,
Banks.
Deposits,
Loans,
Surplus,
Gold and
Gold Cl'g-H
and
Individual.
Other,
Discounts,
Certificates.
Gold
XCVXI.
1913.
Stiver
Treasury
Certificates.
Silver.
Legal-
Treasury
Certificates.
Tender
Notes
Maine
New Hampshire...—..
157.587
140,885
118,510
757.894
302,354
Vermont
Massachusetts.
.......
Boston
Rhode Island
;
....
Connecticut.
......
449,074
302,675
130,825
2.145.707
7,805,985
373,843
1.094,577
90,699
.........
395.520
New England States.
2,023,452
New York
Albany.
1.337,491
......
Brooklyn.-
Pennsylvania..
Philadelphia
Pittsburgh
„
...
.......
Maryland.
Baltimore.
...
District of Columbia
I
...
Washington
Eastern
105,406,039
53,246,522
43.092,241
28,715,268
South Carolina
Georgia.....
Savannah...........
Florida..
......
61,671,440
........
Mississippi........
Louisiana
524,047
290,043
265,681
279,845
610,989
3,384,936
35,879,645
41.694,835
12,916,130
18,028,234
...........
Alabama
...,
;..
New Orleans
63.537
62,863
.........
„,
Waco
;
....,
Louisville............
Tennessee
Southern
93,089
156,964
210,782
289.293
124,158
382,060
329,327
232,236
232,956
269,496
120.265
560,722
6,652,497
21,128,105
48,330,389
26,529,401
65,823,285
...........
Kentucky
678,248
993,495
318,820
109,863
1,736,589
20,810,447
14,775,673
3,653,248
26,107,434
10,236,132
Galveston...........
Houston
San Antonio
Arkansas
50,100
369,093
516,008
133,807,930
Dallas
Fort Worth
771,309
601,619
329,766
160,726
630,101
425,131
542,219
135,817
246,108
24,101 ;550
>Texas__
1
618,636
...
West Virginia
North Carolina
4
3,332,025
4,564,442
5,908,339
4,035,554
216,299
412,180
2,282,400
8,360
65,385
States.......
Virginia
,
44,016,186
710,878
2,068,849
859,058
729,129
67,543
147,394
170,963
1,840
69,823
....
.......
1,065,036
1,352,119
.......
Delaware
4,078,535
47,230
140,740
......
New York City.......
New Jersey
65,056
308,024
229,243
100,208
138,320
326,952
360.833
781,846
States......
7,934,164
183,386,622
Cincinnati
Cleveland
Columbus
Indiana
1
65,135,546
61,864,004
17.120,673
28,213,538
184,472,431
322,383,522
73,978,881
36.273,100
71,528,996
.
Chicago
Michigan
.
Detroit
Wisconsin
.
.
.
Milwaukee
'
_
45,328.969
Minnesota
*
94,225,311
68,430,471
34,611.184
114.351.365
8,545,533
14.370,612
2,942,034
9,795,312
30,063,745
68.314,742
Minneapolis
'
St. Paul
.
Iowa
..
Cedar Rapids
Dee Moines
A
...
Dubuque
.
Sioux City
Missouri
Kansas
St.
St.
543,490
2.680,037
1.045,275
3,194,144
1,045,785
4,592,180
13,468,695
2,393.066
1,941,485
1,980,427
940,533
3,035,900
3,056,942
2,698,753
2.597,026
109,303,007
Indianapolis
Illinois
'■
4,675,350
City
95,080
"
530,265
141.170
201,635
783,279
2,252,369
4,421,100
4,078,240
3,957,350
759,240
2,788,510
1,704,660
5,064,520
1,565,631
1,270,307
736,844
331,563
1,235,694
609,989
1,805,090
22,446,880
18,716,187
1,765,800
836,990
2,059,620
1,476,220
1,614,280
2,378,780
639,380
2,473,000
462,550
771,010
85,000
625,459
169.211
495,961
1,959,502
593,709
37,995
473,407
609.960
24,410
76,551
62,116
31,069
823,600
424.260
.
195,512
(
11,002,129
Louis
Middle Western States.
North Dakota...
*
South Dakota............
....
32,465,297
30,010,747
65,260,962
4,766.704
27,028.642
6,990,528
69,858,695
3,145,144
3,308,645
4,513,250
35,148,491
12,946,684
38,953.188
37.111,307
6,994,268
15,271,583
65,597,272
4,716,498
7,110,223
Nebraska
Lincoln
\
'
...............
Omaha
....
South Omaha
........
Kansas
..........
V
Kansas
V
Topeka
City..........
...
Wichita
..............
Montana
i
'
w—••
—
Wyoming...............
Colorado.........
!
Denver
Pueblo.
New Mexico
...
......
„
Oklahoma
>
—,
Muskogee
*
'
'
........
Oklahoma City....—,
*'
'
•
,J
'
41
.
-
,'
1,611,515
3,319.500
689,500
11,037,580
1,742,026.578
Joseph..
447,400
106.384.851
>
65,951,701
75,977,570
8,773,201
31,449.390
27,246,642
55,624,637
628,060
785,264
1,486,473
278,236
1,011.435
332,650
682,550
782,850
1,214,230
162,800
295,737
218,432
366,977
71,560
228,496
1,065.587
98.578
627,878
422,688
6,116.458
32,289,291
6,992.485
55.994.818
1,715,636
4,138,111
3,342,586
6,507.499
28,922,026
12,200.706
361,600
214,570
372,670
1,197,500
343.010
922,990
2,219,460
470,210
400,860
30,055,074
29.411,031
6,107,095
13.106,114
48,850,445
4,343,148
5,583,082
Western States——,
Washington
Seattle
23,781,782
......
*
Spokane
-
Tacoma
Oregon
27,606,941
15,793.245
....
—
6.962,840
......
:
Portland..............
California
23,098,138
23,006,218
105,084.001
49,884,164
117,454.717
16,386,392
0,890,502
11,913,019
——
Los
Angeles............
San Francisco—..—..
Idaho..
*
......
Utah.
\
...
Salt Lake City—.......
.Nevada
............
Arizona
201.961
4.475,944
1,279,310
141,282
125,865
131,500
1,603,351
473,794
1,366.205
5,809.040
1,435.880
3,265,055
462,460
427,063
893,659
106,585
199,598
1,667^360
146,400
30,265
47.622
'
19,571
98,308
126.649
43,253
255,874
94,378
259.842
208.967
32,845
Pacific States
—
56,721
203.102
63.084
29.972
94,280
1,405,100
107,772
670,323
274,040
388.320
77.218
93,501
173,852
120,817
209,278
257,311
245,800
46,681
251,821
188,981
1,027,180
311,295
46.320
17,892
63,377
21.248
31,882
9,770
603,492
170,309
62,147
130,615
6,363,405
....—_
46,528
30,386
42,606
97,040
432,709
Alaska.a..
188,851
185,052
250,442
42,714
16,401
381,134
181,917
33,697
58,286
49,725
15,655
12,801
3.654
48,991
0,031
87,509,500
Hawaii
Total United States
a One report for
April 4,
.
Totals for
Reserve Cities,
\
<kc
Jn Millions.
Loans, disc.,Ac. 200
U.S. bonds
10
Stocks,bds.,Ac.
22
6
65
Real estate, Ac.
Due from banks
Nat. bank notes
Gold
Silver....
Legal tenders.
Other
2
18
8
5
_
resources
17
Totals—— 353
Capital..
Sur. A
un.
28
prof.
11,037
34
Circulation....
8
1,057
Due to banks.. 84
Due depositors. 194
Other liabilities
5
2,121
Totals...—. 363
6,023
126
989
723
Sept.
THE
271913.]
abstract from reports of
the national banks
made to the comptroller april 4, 1913
0}
Capital,
Surplus.
Indind.ua
Banks.
Maine....
Gold and
and
Other.
Gold Cl'o-H
Treasury
Certificates
Certificates.
....
Vermont..
Massachusetts.......
Boston
Leoa
Treasury
Tender
Certificates,
Notes
320.267
554,129
Island
Rhode
Silver
.
Silver,
325.811
439,906
143,649
757.812
1,324,714
..............
New Hampshire....
Gold
Loans,
D scounts.
Deposits.
No.
865
CHRONICLE
Connecticut...
New England
States..
New York...
Albany
Brooklyn
...........
*
New York City
New Jersey..
Pennsylvania
Philadelphia..........
Pittsburgh
.....
Delaware.........
Maryland
Baltimore
....
District of Columbia
Washington
States...
Eastern
482,631
263.787
244,528
279,582
639,880
43,143
386,800
540,743
153,210
231,595
138,167
1,764,716
200,284
225.788
95,334
405,672
277301
220,060
255,913
266,561
998336
484,627
Virginia..
West Virginia—......
North Carolina
South Carolina.............
Georgia
Savannah...............
Florida
...
Alabama
......
,
Mississippi........
........
Louisiana.
.............
New Orleans
Texas
Dallas
Fort Worth
,
Galveston
Houston
.............
Antonio.............
Ban
Waco
Arkansas
...
Kentucky.......
Louisville
.........
813,610
654,313
349,364,
178,965
655,909
.37,230
409,887
473,783
95,329
152,377
312,743
1,142,668
308,820
,
100,345
107,190
344,3251
170,401
99,754
226,870
330,830
392,909
659,690
Tennessee..—...
806,532,089
13,287,651
182,398^294
Ohio
——
Cincinnati..........—
Cleveland .....
Columbus
Indiana
66,576,010
63,917,113
16,810,191
106,215.648
29,901,301
...
Indianapolis
Illinois
20,081,017 1,767,768.272
57,274,142
76,937,460
626^455
...............
Detroit...
......
Wisconsin
....... ........
Milwaukee ....
...
Minnesota
46,818,092
92,313.706
60,117,364
.......
Minneapolis
35,042,844
.............
St. Paul..
Iowa
—
Cedar Rapids
Des Moines ....
.....
Dubuque
—........
Sioux City...............
—
...
...
Kansas City.............
St. Joseph
.........
Louis
South Dakota
...........
Nebraska
._.
.................
Omaha
Kansas
2,850.000
...
......
South Omaha
29,875
1,453,947
258,280
4,496,433
..............
Topeka
.......
Wichita
.................
170.000
555,000
2,693,700
Montana
1,182,000
3,161,920
3,935,000
Wyoming—.........—...
—.....
Dehver..................
Pueblo......
New Mexloo
.....
—...—.
Oklahoma City...........
Western States.—.......
28,597.122
1,596.489
1,146,750
291,272
537,169
11,954,085
29.744.718
1,267
71,662,500
16,184,428
6,912,780
12,212,198
6,650,619
6,451,922
388,741
8.862,565
439.509,045
47,752,663
1,807,439
208,321
.....
„
Tacoma.. ....... ........
327.410
1,013,857
1,053,747
471,230
1,330,132
Oregon..—........
Portland ................
California
..............
Los Angeles
...
San Francisco
—
421.687
140.071
—...
Utah
Salt Lake City.
.................
Arizona
................
Alaska, a.
—
470,158
206,023
192,687
255.621
30,806
1,412,827
38,704
.
431,791
39,105
37,275
250,286
97.506
286,120.
208,056
42,136
104,094
653,238
76,107
165.042
25,319
35,578
76.889
132,313
59.475
225,679
68,518
31,637
77,548
422,651
137,150
147,589
2,780,040
461,790
480,530
1,334,050
282,270
348,900
.
-
625,750
188,850
38,850
195,530
103,150
939,120
343,300
1,909.940
294.700
31,590
712.470
127,320
205.680
54,480
.....
One report for Feb.
4,
6,051,050
States............
Pacific
Hawaii....................
Total United States
,
34,959,768
287,705
231,147
365,721
98,066
251,529
140,684
618,123
37,453
280,320
1,651,351
4,166,215
1,902,232
1,037,003
2,292.168
4,917,932
7.764,746
7,661,840
12,593,318
1,116,356
v.
468,185
1,110,478
407.908
421,235
241,706
................
8,959,229
15,103,510
279,413
148,784
316,787
239,677
Washington
Nevada
15,220,379
23,157,810
28,603,405
15,481,293
6,969,028
22,358,622
22,929.849
103,473.353
51,026.546
118,708,451
5,111,785
12,843,060
45,702,902
4,320,701
633,852
Idaho..
5.692,427
401,138,237
29,919,546
124,015
282,831
822,733
152.142
250,645
~7JS50,011 "
370,870
919,200
629,846
1,354,113
3.142,297
456,780
419,949
873,224
111,198
194,885
1,147.204
500,000
973.830
2.977.006
272.000
383.000
.....
...—..J..
Oklahoma.;
Muskogee
1,138,217
804,362
14,689
601,834
112,130
'
300.000
...—
Colorado
369.141
30.730
796,079
1,487,079
248,448
1,043,653
268,540
1,679,711
134,688
134,960
121,985
160.143
80,923
4,878,803
City.—.—.....
a
56.488
222.915
^
.
712,500
795,290
1,156,270
111,240
1,784,250
138,600
1,285,130
376,100
255,730
364,000
505.000
......—...
Kansas
Spokane
94,205
31,397,954
27,613,793
65.734,074
6.837,092
82,377,148
6.572,422
55,883,357
4.175,221
2,284.208
6,376,643
296.127
435,704
2,072,065
1,335,862
4.488,643
330,000
North Dakota..............
Seattle
.,
—.......
Middle Western States
Lincoln
1,607,812
1.008,235
743,484
346,463
1,299,548
225,889
1,693,261
16,406,981
530,834
175,196
639,550
1,070,796
653,440
100.744
763,724
652,798
28,870
114,971,376
9,536.057
15,319,588
2.847.981
9,948.679
30,278,956
69,044,132
11,287,499
114,390,038
Chicago......'...........
Michigan..
St.
7,700,158
4,657,278
15,818,257
2,298,489
1,843,215
.1,942,159
1,024,120
2,951,641
3,149,762
2,183,045
2,581,650
79,413
484,562
150,682
186,660
794,140
2,420,275
361,705
2,144,308
185.375,179
334,072,764
73,730,428
35,094,960
71,760,072
.............
......
Missouri
21,498,230
4,398,785
340,420
2,425,928
1,023,699
3,062,754
951,195
States—.......
Southern
......
7.440 1,052,265,582
63,890,520 6,178.096,379
175,377*33#
240,575,673 310.979,210
Totals for
Reserve
Cities,
Ac
In MOlions.
Loans, disc.,Ac.:
U.S.bonds
Stocks,bds.,Ac.
Real estate, Ac.
Due from banks
Nat. bank notes
Gold
——
Silver
Legal tendersOther
resources
Totals
Capital..
Sur. A un. prof.
Circulation
1710
Due to banks..
5925
Due
depositors.
[Other liabilities
Totals......
77 21 94 45 88
229 23 6.538 5.544 11.08S
.
866
•
■
'
•
THE
"...
•'
f
CHRONICLE
[VOL.
ABSTRACT FROM REPORTS OF THE NATIONAL BANKS MADE TO THE
COMPTROLLER
Deposits,
February 4 1913,
Maine-...
New
No. of
Banks.
Capital,
Loans,
and
Surplus.
Individual.
Other,
Discounts,
Gold and
Gold Cl'g-H
Certificates,
Gold
FEB.
xcvii.
4,
Treasury
Silver,
Certificates
Lega.F-
Treasure
Tender
Cer tlii rates
.............
Hampshire..............
Vermont
................
Massachusetts...............
Boston
Rhode
............
Island..........
....
Connecticut.................
New England States
.....
New York...........
.....
4,4l9,llf
Albany....................
Brooklyn
6c,37l
...............
909.67
New York City
New Jersey
.....
42,599,.),'
2,r,C2,08i
4,157,991
5,788,81
....
Pennsylvania
...........
Philadelphia..._.
Pittsburgh...
.........
Delaware
3,502.1.71
.............
Maryland
.....
161,305
...
I 4u8,-JU!
2,713,95'
Baltimore
District of Columbia
Washington
Eastern
14,440
...........
State:
070.711
...
Virginia
West Virginia
North Carol
.....
....
...
....
na
South Carolina
....
Georgia
Savannah.
Florida
.....
....
....
Alabama..
....
Mississippi
..........
Louisiana,.__
New Orleans
Texas
Dallas
.....
.....
...
Fort Worth..
Galveston.
Houston
....
....
San Antonio...............
Waco...
Arkansas... ...............
Kentucky
.......
...
.......
Louisville..................
Tennessee
.........
Southern
States
Ohio
Cincinnati..
1,462.116
1,137,187
1,135,343
Cleveland
Columbus
323.909
Indiana
1,195,811
401,301
Indianapolis
Illinois
Chicago
Michigan..
1,661,199
19,358,924
.....I
Detroit
517,083
...
Wisconsin
Milwaukee
128,321
........
506.543
................
1,718,897
Minnesota...................
Minneapolis
568,866
82,520
538,193
627,747
31,635
94,060
45,136
.....
Bt. Paul..
—
Iowa
...—....
Cedar Rapids..............
Des Moines
,
..........
...
Dubuque
Sioux City
31,610
Missouri
—...
Kansas
City
...
North Dakota
....
............
South Dakota.
.......
Nebraska
Lincoln
Omaha
...
................
City.
.
...................
Wichita
Montana....................
Wyoming
Colorado..
..................
Denver
Pueblo
New
717,500
234,297
180,121
740,120
1,117,280
258,384
33,755
878,731
22,523
428,416
33,463
15,270
47,474
144,586
77,857
98,520
............
South Omaha
Kansas
'
Topeka
263,260
4,904,923
......
Middle Western States
Kansas
206.359
1,416,538
.....
St. Joseph....
St. Louis
1,128,730
140,020
1,228,980
377,200
202,290
388,400
924,390
341,180
805,410
2,286.260
213,542
51,484
499,280
437.760
Mexico.....
Oklahoma
Muskogee
38.557
110.826
703.776
110,293
150.133
1,307,050
Oklahoma City
—
245,130
333,050
Western States
Washington...
Seattle
......
—............
Spokane
Tacoma
....
Oregon...
Portland
"
....
:—
......
California
Los Angeles....
San Francisco
;
.
Idaho.
—
..........—
Utah....
Salt Lake City
Nevada
■
—-—-
Arizona
^a
One report for Nov. 26.
States.
'
Pacific
Hawaii.6
-—
b Figures for Nov.
United
26 1912
States.....
Totals for
Reserve
Cities,
In Millions.
Leans, dlsc.,&c.
U.S. bonds
Stocks, bds.,&c.
Real estate, <fcc.
Due from banks
Nat. bank notes
Gold
Silver
Legal tenders..
Other
resources
Totals
Capital..
Sur. Attn. prof.
Circulation
Due to banks..
Dwdegorttors.
Totals...*..
1913.
Si ver
45 20 49
8
4
6
6
4
4
Notes
Sept. 27
iauTuers'
867
CHRONICLE
THE
1913.]
Domestic Exchange.—Chicago, 5c. per $1,000 premium.
Boston, par.
$1,000 premium.
San Francisco, 30c. per $1,000 prem¬
St. Paul, 10c. per $1,000 premium.
Montreal, 31 Ma. discount,
St. Louis, 5c. per
(ferlte.
ium.
Minneapolis, 15c. per $1,000 premium.
Street, Friday Night, £ep£. 26 1913.
The Money Market and Financial Situation.—Mon¬
day's record of business at the Stock Exchange was small,
owing to the fact that the morning session was omitted, as a
tribute of respect to the late Mayor Gaynor, whose funeral
occurred during that period.
Since Monday the transac¬
tions have been somewhat larger in volume, but the markets
are still exceptionally dull for the season and without notable
feature in any particular.
/
The Government report of international trade for August
shows, as reported last week, a large balance in our favor,
which accounts, in part at least, for the current low foreign
exchange rates in this market.
The Railway Association's statement of cars not in use
indicates that the number diminished over 18,000, or nearly
one-third, during the last half of August, and shows that
the expected has happened in the matter of increasing traffic
with the advance of the season.
This increase is not shared
in to any
shown by
large degree by the iron and steel industry, as
the weekly reports thereof, the lack of orders from
railway sources being especially noticeable.
There are reported to have been liberal sales of securities
in this market for foreign account, a movement stimulated
by renewed hostilities in the Balkans and for the same rea-,
son
there has been a hardening of the money markets in
Western Europe.
The Bank of England reports a decline
of about $6,500,000 in its gold holdings.
The Bank of
France and the German Bank, on the, other hand, have
gained each between 2 and 2% millions.
/
The local money market shows an easier tendency, al¬
though actual rates are about the same as reported last week.
Last Saturday's bank statement showed a substantial in¬
crease of the surplus reserve and the known movement of
Cincinnati,
par.
State and Railroad Bonds.—Sales of State bonds at the
Wall
Board include $1,000
New York 4s, 1958, at 98%, and $20,Virginia 6s, deferred trust receipts, at 48 to 48%.
There have been slight changes only in prevailing bond
000
,
market conditions this week.
Prices have shown
some
...
ten¬
dency to advance, as indicated by the movement of 30 active
and representative issues, 17 of which are higher, 10 lower
and 3 unchanged.
„'
Allis-Chalmers 5s advanced over 12 points on bids which
,
.
brought out only a few bonds.
Rock Island 4s have re¬
point of the decline noted last week and New
notably strong in sympathy with the
shares.
On the other hand, Union Pacifies, Steel 5s and
Central Leather 5s are fractionally lower.
covered
over a
Haven issues have been
.
United States
the Board
are
Bonds.—Sales of Government
limited to $1,000 3s,
coup., at
bonds at
102% and $5,000
at 96.
For to-day's prices of all the different issues
yearly range see third page following.
Railroad and Miscellaneous Stocks.—Beginning with
Monday's short session, the stock market has increased its
volume of business day by day, while the trend of prices
has generally been downward.
The movement has, how¬
ever, been a moderate one and was altogether natural after
the rather pronounced advance which recently took place.
To-day's market has been generally strong but irregular.
Union Pacific was bid up 3 points in the early hours and held
a large
part of the gain.
It was the leader of the market
throughout the day on renewed gossip about an early distri¬
bution to stockholders.
New Haven has been one of the
2s,
reg.,
and for
strong features of the week on expectation that the Massa¬
Commission will approve its proposed new bond
chusetts
Lehigh Valley and Reading have declined, presum¬
issue."
during the month
banks South and
West, which has considerably reduced the demand from the
the Government's action against the so-called "coal
Great Northern, N orthern Pacific and St. Paul have
also shown a tendency to weakness.
; ;
People's Gas was conspicuous early in the week for an
advance of nearly 9 points on rumors of benefits soon to
interior
accrue
funds this week indicates that the cash held has increased.
It is becoming more and more appar¬
New York,
ent that the demand from this so iro§
will be a much less im¬
portant factor in money market conditions here during the
remainder of the year than has usually been the case in past
>
'
years.
market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from' 2@3%.
Friday's rates on call were 2%@3%.*
Commercial paper on Friday quoted 5% @6% for 60 to
90-day endorsements and prime 4 to 7 monthsr single names
and 6%@6%% for good single names.
" >
i
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £1,325,852 and the percentage
of reserve to liabilities was 58.34, against 60.75 last week.
The rate of discount remains unchanged at 4%%, as fixed
April 17.
The Bank of France shows an increase of 11,947,000 francs gold and a decrease of 7,300,000 francs silver.
YORK
to
of
holders
daily volume of business see page 875.
have occurred this week of shares not
represented in our detailed list on the pages which follow:
for
Allls-Chal pf rec, 5th pd
F, pref
Brunswick Terminal
Can Pac subs, 4th paid.
Central Coal & Coke
Cent & Sou Amer Teleg.
Chic St P M & Omaha..
.
L
..
w
Colorado & Southern.
__
S
Loans and discounts...
1,360,833,000
Circulation
45,168,000
1,350,570,000
273,608,000
72,376,000
Net
deposits
Specie
•
Legal tenders...
Reserve
held
$
$
"337,642,500
.■
.
Dec.
1,498,000
2,940,500
341,390,000
335,152,750
Mackay
4,438,500
6,237,250
'
Surplus
8,341,500 pic,
reserve
23,906,000
actual
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
Stkte banks and trust companies not reporting to the Clearing House, appear on
Note.—'The Clearing House now Issues a statement weekly, showing the
condition of the bank
on Saturday morning, as well as the above averages.
the second page preceding.
Foreign Exchange.—The market for sterling exchange
has ruled easier in tone and quotations are
again approaching
the
gold-import basis, though it is not probable that New
York bankers will seek supplies of gold in London until
after the October payments have placed the European situa¬
tion in a more favorable position.
Canada has withdrawn
$1,500,000 in gold from New York this week.
To-day's (Friday's) actual rates for sterling exchange were 4 8195 @
for sixty days, 4 8555@4 8565 for cheques and 4 8590@4 86 for
Commercial on banks 4 79)6 @4 81 % and documents for payment
4 81% @4 82.
Cotton for payment 481@481M and grain for payment
4 81)6 @4 82.
•
The posted rates.for sterling, as quoted by a representative house, were
not changed during the week from 4 83 for sixty days and 4 86)6 for sight.
Exchange at Paris on London, 25f. 24)6c.; week's range, 25f. 25)6c.
high and 25f. 24c. low.
Exchange at Berlin on London, 20m. 41)6pf.; week's range, 20m. 42)6pf.
high and 20m. 40Mpf. low.
The range for foreign exchajnge for the week follows:
Cables.
Sterling, Actual—
Sixty Days.
Cheques.
4 8620
High for the week
4 8195
4 8585
4 8215
cables.
Low for the week
4 8225
4 8590
4 8555
,
Paris Bankers' Francs—
High for the week
5 23 H less 1-32
Low for the week —5 23 M less 1-16
Germany Bankers' Marks—
High for the week...
94 5-16
<
Low for the week
_: 94 \i
.
>
5 19!
5 19!
5 19 H Plus 1-32
5 19 H less 1-32
less 1-16
less
1-64
„
_
95 H
94 15-16
95 5-16
'
'
*'
/
95 3-16 less 1-32
Amsterdam Bankers' Guilders—
High for the weeek..
Low for the week
39%
39 11-16
40 3-16 less 1-16
..
-
40 3-16 less
Sept 25
12
200
12)6 Sept 23
80
Sept 25
67)6 Sept 26
100
94
V
190
Preferred
United States Express..
100
250
U S Reduc & Refining..
120
Virginia Ry & Pow, pref
100
Wells, Fargo & Co
435
Jan
Mar
Sept
Sept
Feb
Mar
Jan
Jan
Feb
Feb
Apr
Jan
17)4
Jan
July
87
Jan
69
June
75)4
66
Apr
200
Sept
June
11
June
Pittsburgh Steel, pref
U S Industrial Alcohol..
22
23
26
24
2
Texas Pacific Land Trust
100
13)6 Sept
80)4 Sept
67)4 Sept
2 )4 Sept
90
94
30
June 150)4
24 130
23)4 June 33
25
5c.
8c. Sept 22
Aug 13c.
67)4 June 80)4
73)4 Sept 23
June 185)4
179
Sept 25 170
106
May 109)4
Sept 25 104
Sept 22
100
Mfrs, pref.
United Dry Goods.^.j.
.
Highest.
'
94
200
Pacific Tel & Tel, pref..
United Cigar
Lowest.
12 H June
23
19)4
June 136)4
23 128
6)4 June
20
8)4
Aug 229)4
23 212
87
25
Sept 87
24 103)4 June 112J4
20 119)4 Aug 125
2)6 Sept 22
' Sept 22
Ontario Silver Mining..
2)4
95
Aug 100
Apr
Feb
Apr
Jan
Sept 22
94
Sept 22
93
95
Sept 23
Sept 25
89
Sept 24
99 H Sept 24
45
Sept 22
28
Sept 23
)6 Sept 25
94
Sept 24
86 X Sept 25
95
Sept 25
93
99
99
Sept 25
96
Sept 102)4
Feb
89
Sept 24
87
July 101
Jan
99)4 Sept
45
Sept
28)4 Sept
)4 Sept
94
24
96
22
23
25
40)4
Sept 24
87)4 Sept
June
26J
97"
July 105)4
)4
Aug
66
June
25
44
Sept
1)4
Jan
Jan
Jan
Jan
Jan
89
July
94
Sept
86)4
Sept 125
Apr
Outside Market.—The "curb" market this week moved
in
activity being on a diminishing scale.
prices showed a sagging tendency, though the
close to-day was generally firm.
Interest was principally in
the industrial list, with the Tobacco and Oil shares mostly
in evidence.
British-AmerTobacco, old stock, gained about
an
For
a
uncertain manner,
time
point to 27%, then dropped to 26, with a final recovery to
26%.
The new stock was traded in up- from 27% to 28,
down to 26% and at 27 at the close to-day.
Tobacco Pro¬
ducts pref. opened the week at 95% and sold down to 91%,
ex-dividend.
United Gigar Stores com. improved from 97
to 97%, then weakened to 94%, the close to-day being at
96%.
Standard Oil of N. J. made a jump of 6 points to
375, sold down to 370 and to-day rose to 378, closing at376.
Consolidated Rubber Tire com. declined from 35% to 34 and
a
Willys-Overland com. advanced from
Light & Coke "rights" were
time, "w. i.," down from 2%
to 2%.
In bonds trading was confined to Bklyn. Rap. Tran¬
sit 5% notes which were off from 96% to 96 3-16.
Copper
shares were somewhat easier on small dealings.
Braden
Copper advanced from 7% to 8 and sank to 7%, closing to¬
day at 7%.. First National fluctuated between 3% and
3 &16 and finished to-day at 3 5-16.
Kerr Lake was a firm
feature, advancing from 3 11-16 to 4%, the close to-day
being at 4 3-16.' Goldfield Consolidated weakened from
recovered
to
34%.
to 69.
People's Gas
traded in to-day for the first
66%
2 to
40 H less 1-16
40 H less 3-32
Sept 25
120
Companies
Preferred
346,825,000
Sept 22
73 H Sept 23
12 106
...
__
8c.
68 178'
Green Bay & W, deb B_
370,731,000
•
Sept 22 19)6 Sept
200 133)6 Sept 23 133)6 Sept
100
7 % Sept 20
7)6 Sept
200 227 H Sept 24 229)4 Sept
100 87
Sept
Sept 25 87
10 106
Sept
Sept 24 106
100 120
Sept
Sept 20 120
100 135
Sept
Sept 24 135
200 27)6 Sept 20 27 H Sept
50
United
Preferred
17
100
General Chemical..
135,150,000
133,650,000
196,199,000
199,887,600
Dec. TV,351*000 1,341,266,000 1,357,262,000
Inc.
49,656,000
46,038,000
12,000
Dec. 11,762,000 1,340,611,000 1,387,300,000
293,634,000
Inc.
265,452,000
1,498,000
No change
77,097,000
75,938,000
345,984,000 Inc.
i
25% of deposits
Sept. 23.
$
210,134,200
»
week ending
Sept. 21.
from,
previous week.
133,650,000
Surplus
1911.
Averages for
week ending
Differences
Sept. 20.
Capital
Detroit
1912.
Averages for
'
700
Highest.
Lowest.
Week.
Am Brake Shoe &
Range since Jan. 1.
Range for Week.
Sales
STOCKS.
Week ending Sept. 26.
Comstock Tunnel.
week ending
announcements
For
Preferred
(Not Including Trust Companies.)
1913,
Official
shares.
The following sales
CLEARING-HOUSE BANKS.
Averages for
the
to-day, however, caused, a drop of over 2 points.
The cop¬
per stocks have been weak on trade conditions and presum¬
ably, for the same reason, U. S. Steel closed 1% points
lower than last week.
'
The open
NEW
on
trust."
The Secretary of the Treasury has added
about $24,000,000 to previous deposits in
on
ably
1%.v
^Outside quotations
will be found
on page
875.
868
'New York Stock
Exchange—Stock Record, Daily, Weekly and Yearly
TWO PAGES
OCCUPYING
For record of sales during the week of stocks usually inactive,
STOCKS—HIQHE8T AND LOWEST SALE PRICES
Sales
or
STOC <S
,
_
Monday
Tuesday
Sept 20
Sept 22
Sept 23
951®
958®
958®
9684
*977®
981®
981®
981®
1221® 12214 ♦1211® 123
96
96
96
9612
«
*80
82
8H2
891®
891®
8914
2303® 2327®
315
315
♦310
330
591®
*133®
5912
141®
*138®
*29
31
*29
108
108
134
134
598®
*133
95%
Sept
25.
82
*80
4
95
*80
82
♦80
89%
89
89%
89%
88%
89%
232% 2347 8 230% 232% 231% 232% 232
*310
330
*300
330
*300
♦300
330
59
591 4
*13
67%
14
*28%
107%
133
134
130
14
1301 8
180
*170
185
*170
185
*170
185
*170
185
♦175
*36
45
*36
46
*36
46
*39
46
*36
75
*60
75
*60
75
♦60
75
*60
75
*60
75
I6OI2 160i2 *160
162
160% 1601 4
160% ♦158
162
419
410
410
*400
419
*400
419
*412
419
*19
22
*20
21
*18
21
*19
22
*19
21
*19
20%
*33
36
36
35
8
*34
35%
*33
36
*5%
2
295®
47»4
*3512
*5i2
•1214
2934
475®
38
*37
38
129
129
•400
419i2 *400
*512
6l2
14
*12l4
2912
4734
*36
"
128l2 12834
39U
39i2
301®
4734
*12%
29%
25
8
26
60
60
*7%
25
*36
*20
45
*36
7,200
135% 135%
200
*130
2
*130
134
*37
*129
18
'
138
135
*135
148
22
22
58
*56
58
9512
8634
106
-90
*83
11334 114
1125® 1127®
•89
45
95%
87%
88
*29
31
1057®
113% 114
1127®
93
*90
93
*90
110
f*100
120
f*100
*84%
85
85
85
9112
911®
928®
1412
147®
141®
223®
*5%
23
94%
15%
23%
5%
*92%
14%
21%
*5%
25
*15
.
21%
-
61®
*15
*5U
20
9
*15
9
98®
247®
64%
19%
49%
93%
978*
•18
19
*87%
*100
91
153®
23%
*90
92
6
*5
6
25
*15
25
♦15
25
9%
24%
645®
19%
48%
925®
8%
§24%
8%
24%
64%
19%
*5%
9
25
247®
*58
18
*18
926®
97U
*24U
971®
247®
96%
25
24%
80
80
80
80
23%
79%
15
16
*15
16
*15
16
15
417®
*5%
*58
24%
81
22%
97
*2414
•80
41l4
*7
4H4
12
♦22
*11
♦23
23»4
•104
108
hioe
I 16884 I6O84
I
*85
1
*20
.
*20
*4l2
*20
48®
1134
41
12
*7
86
131^
♦403®
•4
5
*4
5
*4
5
*4
5
*4
.♦18
i *9
21
*18
20
*18
21
*18
22
♦18
11
*9
11
•47
60
481®
48%
208®
78U
4784
20U
20%
778®
78%
47%
*46
48
*45
48
94
{94
94
*93%
26%
94
27%
*68%
80
777®
*47
277®
•70
80
<
343®
47
47
.
<•114
I
*938®
2784
*68i2
34i2
9612
3484
97l2
*9614
47U
*1141® 120
371®
37%
66
65
♦6412
44
4412
*4284
95
95
195
484
*41®
4%
*23
2484
24%
*4284
*92
*4U
*2314
24
j *22%
I *9U
23
10
1
*25
f *35
•104
♦914
27
107
•25
351®
348®
8
8
601®
*82
41
23%
10
•82
168
*163
♦11%
40
43®
22
♦18
11
*9
11
*9
11
*9
♦48
50
47%
48
♦46
77
*72
80
34%
95%
'
34
34%
95
35%
96%
21%
75%
46%
*93%
26%
*68%
32%
95
12
24
76%
47%
94
27%
23%
75%
♦25
34
*25
27
35
34
4%
21
11
767®
95
♦67
8
103
106%
*6
♦25
33
27
32%
103
*25
32
32%
102% 102% *102
27
Do
preferred.
52,400 American Can
Do
preferred
1,935
900 American Car & Foundry
Do
preferred
2,300 American Cities
80
«»«■«» -
»'
Do
preferred..
2,550 American Ice Securities..
Linseed
300 American
Do
preferred
27
104
...
American Malt Corp..
Do
preferred
*7
8
§8
8
150
*45%
50
*45
48
46
46
47
47
1.200
•82
84
*82
84
*82%
84
*82
85
66%
67
67%
66%
100% 100%
Amer Smelters Sec pref B
9,425 Amer Smelting St Refin'
Do
preferred....
1.185
168
67%
68%
101% 101%
67%
100% 101
165
165
66%
166
165
8
100% 100%
•162
167
165
400 American
165
J'ne 12
38
89% J'nell
92% Au?27
19% J'ne 12
Snuff
120%
16%
63%
22%
56
J'nell
6% J'ly
8
J'ne 10
87® May
1
18
2
1567, Feb
142% Jan 10
132% Feb 7
23% Jan
2
1287® Dec
18% J'ly
Deo
138
Apr
May
40
18534 Jan
170
Aug
Mcb
Jan
Jan
Aug
Aug
Jan 29
840
129
Feb
13834
27%
§57
154%
140
Dec
158
29% Jan
7
64% Apr 11
43% Jan
31% Mch
67% May
35
J'ly
3
66
Dec
126
297® J'ne
{10784 Feb
3
Feb 13
J'ne
88
122% Jan
123% Jan
6
7
115% Jan
Jan
11
Jan
Jan
Jan
104
1197®
98%
108%
1481®
87%
Sep 18
Sep 23
92% Apr 10
95
Apr 101
247® Feb 4
44% Jan
2
19% Jan 11
59
29
Jan
11
35% Jan 13'
75
Jan
&
20% Apr /1;
49% Sep 23
Jan
110
Dec
Dec
18
4434 Dem
103% Doc
30
367®
121%
142%
41%
119%
Jan
Apr
Apr
92
Apr
Aug
Feb
117
J'ne
22% Dec
42% Deo
17% Dec
68% D eo
26% Deo,
2984 Jan
68% Jan
Feb 11
Jan
131% Aug
126% May
111% Sep
Dec
92
Apr
4734 Mch
71
62% Oct
26% Oct
106% Dec
27% Jan
2
109% Jan 30
113% Jan
Feb
25% Dec
9
Meh
59
Feb
179%
93%
101%
30%
6958
29%
69%
4334
403®
80%
27%
66%
115%
Apr
Apr
Apr
Apr
Apr
Mch
Jan
Apr
Oct
Oct
Apr
J'ne
Apr
99% Sep 18
28% Jan
2
Jan
13
"3*2 "Sep"
26% Jan
63% Feb
20% Jan
33 % Dec
10% Dec
8
43% Sep 23
9
28
29% Jan
Sep
162% Jan
109
867® Oct
26% Nov
49% Jan
16% Mch
J'ne
36
111% Sep
17634 Sep
96% Deo
397® Deo
69% Deo
88% Oct
35% Jan
63% Jan
28
6
334 J'ne
13% J'ne
17% Aug 18
Jan
8
Jan
14
Jan
J'ly
J'ly
57
Aug 12
46
Apr
Dec
15034 Dec
103
93% Jan
J'nell
32
23
May
39% Apr
67?w Apr
48
Apr
14334 Aug
53
Sep
141% Jan
22
J'ly
673® Oct
31% Sep
65% Mch
Jan
30
81% Mch20
J'nell
May
46% Jan
lia4 May
11% Jan
168% Jan
22% Jan
16
May
Deo
Jon
May
6
J'ne 4
30
Dec
Jan
35
10%
277®
7%
15%
45
3U
28% Jan 13!
93.t May
227®
64%
11%
861®
17%
62%
Deo
4
2r
Jan
U
Jan
3
6
Jan
40% J'nell
68% Apr 23
48
Feb
19% Sep 11
Sep 25
80% Sep 16
57
Jau
3|
69
Feb
Jan
98
Apr
Mch
Oct
Oct ;
24
13
J'nell
7% May 6
61% J'ne 10
41% Sep 6
92% J no 3
19% J'ne 10
70
Aug 14
J'nell
21
80% J'ne 10
36% J'ne 10
108
J'ne 10
99
Mch
86
46% Dec
6
4834 Jan
j'ne 12
Sep 2
6738 Jan
J'ne 10
J'ly 9
J'ne 10
J'ne 10
27
78% Jan
_
27*4
11%
31%
44%
106%
Apr
Feb
Feb
Jan 31
Jan 31
Jan 6j
Jan 2
J'ne
6
107
Feb
J'ly
9
193
Jan 22
Jan
95
Feb
3
20
Feb
18
4
12
4
10
97
49
30% Oct
75% Aug
46% Jan
9634 Jan 10
6% Jan
8
28% Feb 10
997® Aug
7% J'ne
45% J'ne
79% J'no
58i® J'ne
12
10
11% Feb
903® Feb
115
Mch
117
J'ly 2
J'ne 28
Nov
90
467® Jan 31
129% Jan 30
66% Jan
~
Jan
9
Mch
30
Feb
43
3134 Feb
47%
1101®
19%
69%
89%
Jau
103
Jan
3
61% Jan
86
Jan
3
42
Jan
9
84
Deo
13
434 Jan
74% Jan 30
7
Out '
Aug
92% Oct
635® Mch
104% Meh
77
Sep
101% J'ne
473® Oct '
126% Sop J
635® Sop
120
May
60% Dee
83% Dee 1
60% Now.
99% Feb 1
7% Sep i
34
Sop
303® May :
177® Apt
54% Dee
J'ly
2'I
50% Jan
33%
60%
83i®
92%
3%
15%
150
BANKS AND TRUST COMPANIES—BROKERS'
Jan
Jan
J'ne 10
J'ne 10
J'ly 9
J'ne 4
101% J'ne 6
137% J'nell
79% J'uc 10
Dec
38
72
67® J'ne 10
20% J'ne 10
«•
1,900 American Locomotive...
Do
preferred
300
32%
84
*6
6% J'ne 17
24% Sep 12
61
Sep 17
14% J'ne 10
Dec
47% Dec
36
17
Do
preferred
1,600 American Cotton Oil....
Do
110
preferred
200 American Hide A Leather
640
48
8
12% J'ne 10
207® J'ne 10
2% J'ne 17
13
J'ne 28
2
50,400 dAlaska Gold Min Par $10
96,800 Amalgamated Copper
300 American Agricul Oh em.
Do
preferred
2,350 American Beet Sugar....
237®
46
267®.
J'ne 10
...
49%
*45
Aug 28
84
•
14
30
6
126
171
84
W abash
Do
700
preferred
1,550 Western Maryland
100 Wheeling & Lake Erie...
Do
1st preferred
Do
2d preferred
"300 Wisconsin Central
Industrial
&
Miscefl.
94
27
32%
"566
12%
40%
♦92
80
""166
4%
34%
32%
*93
96
95%
47
47
46
46
46
46
457®
46
*114% 120% *114
120% *114
1175® *114% 118%
38
38
37%
37%
38
37%
37%
37%
65
65
65
66
66
65%
72
*64%
*42
43
42
42%
42%
41%
42
42%
95
95
*93%
96
97
*93%
96
♦93%
*4%
4%
4%
4%
•4%
4%
*4%
4%
*22
24
•23
24
24%
*22% 24
*22%
23
23
227®
23%
23%
23%
23%
23%
9%
*9%
10
9%
9%
9%
9%
9%
27
♦6
461®
84
*4
4%
12%
50
21%
76%
42%
Do
preferred.
Twin City Rapid Transit
158% 161% 213,400 Union Pacific
Do
86
preferred
87%
3,865
♦20
250 United Rys Inv'tofS F..
22%
Do
*40
43
preferred
5
20%
75%
I
23
41
*11%
-
300 Texas & Pacific
24,975 Third Avenue (N Y)
100 Toledo St L & Western..
16
107
*9
67l2
67*4
6784
68%
1*10034 IOH4 ♦101
101%
•160
41
*1028® 1028® •103
491®
\
35%
96%
47%
963®
♦48
80
37
165
41
28
120
37
'
I
*47
94
12
411
-
Do
preferred
I
66,550 Southern Pacific Co.
Certificates (wh. iss.)
10,325
Southern v tr ctfs
2,600
stmpd.
Do
975
preferred
do
79%
*20
86
41
IIIII
I_I
3,000
23%
79%
♦14%
41%
1st preferred
2d preferred
Mch
Jan 30
87
161% J'ne 10
Deo
24
132% Jan
9
41% Jan
3
1287® Feb 5
19% Jan 30
65%Jan 30
28% J 'ly 28
61% Jan
7
11% Feb
5
J'ne 25 5109
100
Reading
175% Feb
597
49% Jan 30
1297® Jan 10
337® Jan 11
J'ne 10
98
80% Aug 16
Pittsb Cin Chic & St L
Do
preferred..
500 Seaboard Air Line
92
96
43
4134
••
19
23%
22%
*40
4%
64%
47%
*10
*20
4%
11%
83®
91%
J'ne 10
10
101% J'nejio
1067® J'ne 4
86% J'ne 10
1,750
15,100 Rock Island Company._
Do
preferred
"
10,300
St Louis & San Francisco
Do
1st preferred
Do
2d preferred
1,050
220 St Louis Southwestern..
Do
preferred
•»•><!•
25
*105
108
600
157®
24%
47%
925®
157% 1693®
*12
*9312
277®
♦68
*18
•
23%
*106
*40
\ 2014
8%
*24%
12
*22
23%
108
47®
12%
41%
*
24
42%
158% 159%
86
86%
22
22%
*40
42%
*4%
46®
♦11%
12
*40
15%
97
23%
79%
14%
42%
*7
86
22%
43%
95%
23%
79%
14%
1675® 168% 284,400
48
80
*22
*105
108
108
159%
*40
417®
47®
47%
913®
•
*22
23%
109
16914 160%
86%
861®
88l2
22i2
*40
42%
11%
*18
15
92%
97
12
,
48
49%
92%
100
110
§91
14%
i
I 403®
*100
92%
15%
23%
7
10
*9%
42
113%
112% 112%
91
*87%
93
Western.
adjustment pref"
Do
90
23
2d preferred
113
120
J'ne
52
8,315 Northern Pacific
5,034 Pennsylvania
*86
*15
Do
Dec
Aug
8% Jan
41
Mch
62% Apr
101% Apr
Dec
18% J'ly
34% J'ne'
8
Sep j
10
16% Jan
32% Jan
198
162
9
,
145 " Apr
45% Dec
95
Jan
146
Nov
530
13
47
18%
1.760 Norfolk &
88
19l2
47i2
931®
97
295®
._
105% 105%
*83%
86%
*86
147®
♦24
700
88%
29%
88
*58
mm*--
Jan
J'nell 8150
133
937® Sep 3
85% Sep 18
23% J'nell
mi
188
142% Jan
9
Jan 22
115% J'nell
25% J'ne 10
35
J'ly 25
9
J'iy 17
«,
96
88%
1695®
47%
925®
95%
*91
6
Marie"
9
pre*!
14%
*86
25
— -*
J'ne
10,390 N Y Central & H R_„
N Y N H &
Hartford
9,100
300 N Y Ontario & Western.
45
167
*
48
28%
*36
*13%
126% J'nell
2,100 Missouri Kan & TexasIII
Do
4
preferred
I
12,200 Missouri Pacific.
Nat Rys of Mer 1st
57%
28%
168% 169%
87
86%
9%
247®
645®,. *59
25
*231®
*58
90
120
1687® 171
1691® 170%
45
14%
95%
955®
88
89%
29%
29%
1055® 105%
*83%
86%
112% 113%
112% 112%
89%
29%
90
169
*52
14
95%
*100
120
; 16814
150
22
;&
J nei2
134
*21%
May
.7
32
43
134
"
15%
105% 1057®
*83%
86%
113% 113%
112% 112%
86
11334 114%
1127® 113
*36
29%
*36%
*13%
95%
87%
29%
21% J'uc 5
56
J'nell
J'ne 11
*137
213®
55
29%
4
12
*36
2034
§55
27%
58
28%
*13%
30»4
1061® 106%
106
*82
28%
21%
*54
291
*36
14%
96%
*29
30l2
21%
58
45
955®
8612
87
*291®
2912
14
22
J'ne
45
127
Do
pref
800 Minn St P & S S
Do
preferred
~
4
10
J'ly 11
20% J ueio
33% J'ne 10
-8% J'ne 10
116% J'ne 10
25% J'ne 10
104% Apr 1
12% J'ne 4
Minneapolis & St Louis.I
m **
J'ne
Lehigh Valley
100
11
23% Jan
41
Jan
445
J
J'nell
20% J'ly 23
141% J'ne 10
300
43
150
5
I
I
16
133% 133%
*137
23
JLLioois Central
134
*14%
116% Jan
Jan 30
Jan
94% J'ly
Aug
395
Apr
85% Oct
20% Oct
39% Apr
1175® Nov
.68% Feb
155® Dec
30% Dec
99% J'ly
139% Dec
134% Dec
145
133
J'ne 12
j.3% J'ne 11
Louisville & Nashville*!"
Manhattan Elevated
16
*36
135
150
133
*14%
43
390
_
24
*18
J'ne 10
Jan
91
283
Jan
305
May23 §189
Jan
6
54
Jan 21
347® Aug 26
75
Aug 28
9434 Jan 16
167
Jan
8
147% J'nell
__
Lake Er e & Western
Do
pref
*157% 157%
13714 ♦136
*36
10
60
157% 158%
156% 158
*135
137
*135% 137
150
15»4
9534
*7%
24
22
45
10
*18
2:13714
*36
26
60
730
13
Jan
181
3,600 Interbnro-Metrcp v t ctf"
Do
pref..
17,200
3,500 Kansa City Southernlll
Do
pref
15%
61%
25
*137
*141®
15%
*20
*15
*55
37%
61%
*24%
♦58%
25
141
29
110% 110%
24%
*58%
*7%
150
291®
38
1273®
36%
6134
603®
10
22
29
37%
127
60
16
21%
47
110% 110%
15%
15%
25
•140
*53
38
29%
46
9
177® Jan
35
Jan
4
148% Aug
ilU® Apr
86% Aug
76% Jan
223% Meh
92% May26
98% J ne 10
131% Sep 18
123% J'ne 10
pref,:.
100 Dululh So Shore & Atlan
Do pref___
12,750 Erie
211
Do
1st preferred__ III
2,350
Do
2d preferred
400
Great Northern pref
3,600
Iron Ore properties.__
5,500
14
28%
Do
10
266% Jan
362
Jan
80
23
& St Paul.
-
200
6%
126% 127%
37%
3734
*58%
*7%
•1395®
,
*12
46
10
43
*137
*4%
5%
14
29
*12%
28%
15%
60%
60%
24%
*36
43
5%
25
*58
10
*71®
*20
43
! 153®
4
2
1581a 159
15834 16934
158%
•135i2 137l2 *136
138
*135%
•128
132
*129
132
1317®
*15
16
1612
*15
1534
*36
8
36
6%
14
29%
47%
*36
377®
127% 127%
375®
38%
111
111%
14
39
160
*33
*5%
*12%
28%
46%
298 4
127%
3984
160% 160%
47
47
*59
10
•20
44
1103® 110% *110
16
157®
15%
60%
617®
60%
25
261®
26%
60
~*7%
6i2
3912
•109i2 1113®
155®
1534
61
605®
251®
261®
.
«...
elt)l% Feb
Jan
10% J'ne
pref
1,100 Chicago & North Western
Do
pref
Cleve Cin Chic & St L
Do pref
1,116 Detav/are & Hudson
100 Delaware Lack & Wesr
Denver & Rio Grande___
111^4 Oct
104% Feb
103% Feb
_
101% Jan
*130% Dec
51% J'ly 11
Do
Highest
106% Jan 22
J'nell
275
tr ctfs
pref trust ctfs
Chicago Milw
925
41
•60
9,600
185
41
Do
400
106% Jan
88
Previous
Lowest
102% Jan 29
133% Jan
9
J'nell
..'83% J'ne 10
,208% J'ly 9
Ohio.
Chicago Gt West
14
*36
1
4,300 Chesapeake &
58%
•170
i
pref
6,606 Brooklyn Rapid Transit
29.385 Canadian Pacific
100 Central of New Jersey
for
Year 1912.
Highest
90% J'ne 10
77% J'ne li>
Do
100
28%
29%
28%
287®
106% 107%
106% 106%
133
132% 132% §133
128% 129
*128% 129%
*132
112
Range
100-share lots
927® J'ne 12
96
J'ly 9
pre.
Atlantic Coast Line RR_
5,340 Baltimore L Ot»io__
89%
*13
14
Do
775
500
330
ot
Lowest
Railroads
8,576 Atchison Topeka & 8 F_
232%
58
58%
*13
*23
24
106% 107%
134%
129
129
®
4
134i2
58
587®
♦13
On basis
Shares.
82
♦80
82
90
14
26.
96
4
13012 130i2
»130i4 130l2
Sept.
Week
Friday
Thursday
94% 951®
95%
9484
95%
95%
99
98%
98*4
*98% 99
98%
*120
121% 12I84 *120% 122
120%
945®
95
95%
94%
95
94%
i
121%
598®
297®
1081® 108%
Wednesday
Sept 24
;
♦98
8H2
89i2
232i2 233U
-
page
Range Since Jan. 1
NEW YOKK STOCK
EXCHANGE
-
the
Saturday
preceding
see
Apr
]
Noyj
Aug-1
Aug;
Aug I
J'ne]
91
66% Deo
1023® Jan
Sep
1093® Sop
123
203% Dee
Mcb
QUOTATIONS.
'
Banks
Bid
Ask
555
575
Banks
Bid
Ask
Chat A Phen.
165
175
Fidelity!
130
150
380
Fifth Are!.
Fifth
170
Bid
Ask
165
Banks
175
Bid
Banks
Ask
Bid
Banks
Ask
Banks
Bid
"
New Yorlt
America 1
1
215
220
Chelsea Ext.
Chemical
Park
125
135
Citlsena'
Amer Exeh
Battery
Bowery!
____
425
Cen
363
City
Borol
225
260
Coal
Nat,.
175
190
Colonial !
150
Columbia!
240
Butch A Dr,
120
135
Century 1
195
205
1181
Corn Exch 7. t310
625,
650
Cosmopoi'n U
178
First
370
Bronx
Bronx
I Chase
..
...
♦
a
Pf10®3:
160
Commerce
East
JSale at Stock Exchange
A Iron.
no
or
85
River.,
on this day.
165
295
Mt Morris !-
225
495
510
Mutual!
290
175
180
Nassau
195
615
630
330
350
New Neth!
New York Co
Harrlman
300
325
Irving
960
...
Fourth
450
Bryant Park!
400
280
Imp A Trad.
4500
980
Liberty
177
Lincoln
270
170
.
230
Garfield
__
......
.....
...
260
3
Seaboard
430
Second
396
205
Security !__.
115
210
225
Sherman
....
135
850
875
State!
...
180
2l"0
425
125
U92
405
23d Ward!
140
160
137
143
Manhattan 1 t320
230
Mark A Fult.
395
Germ-Amer !
240
Pacific !
255
265
Union
Exoh.
145
155
German Ex !
375
425
Meoh A Met.
225
230
Park
356
360
1
Wash H'ts !.
278
Ger mania T--
28$'
450
475
Meroh
150
155
230
250
Westch
AvU.
160
176
'
Side!.
450
200
250
Yorkville !..
590
Exch.
»«*•
Gotham
80
..
% Ex-rights,
at auction this week,
__
Greenwich !Hanover
# First
170
250
625
: Merchants'
...
Metropolis!.
Metropol'n !
New York...
176
185
People's !...
Prod Exch !.
325
350
Public!
180
190
Reserve
'
105
m
f Less than 100 shares.
! State banks,
a Ex-dlv. A
Installment paid.
» Sold at private sato ptjttiit price,
_____
rights,
165
84
b New
West
-
60O|
88
stock,
/j&f 24%
—L
actum,
- -
dtri
Sept.
onday
Sept. 33
"
Sept. 2Q
301$
{30
•111
113
•114
116
•131%
13Ud
♦238
240
♦100
101
♦19
{29
♦29% 31
♦111% 112% ♦111
♦111% 113
116
*113% 116% ♦114
•114
131%
1318$ 131% 131% 131%
235
238
238
*236% 238
♦100
101
101
100%
♦100
25
38ld
381$
80
*441$
451$
85
*80
82
*80
18
*16
18
♦16*4
17%
♦17
37%
75%
♦41
75%
44%
37%
*75%
37%
75%
38
75
*751$
106
{104
36
36
35
73%
129
58
58%
55
65*4
♦93% 106
24%
*23%
24
24
24
*94
9414
941$]
43
94
42%
33341
*1114
11%]
33iai
33ia
133l2 134%
11%
11%
*68
70
*07
70
•68
70
*67
*97
99%]
*961$
99%
*96*4
33
33
•132
134
133% 133%
11%
11%
•973$
99%
153s
•15
15%
15
15
•11
14
•11
14
♦11
42
•38
42
*36%
42
148
147
37
807g
28%]
*281$
29
90%
*90
90%j
90
90
•47
48
47%
46*4
47%
*16ii 163$
*108% 109ij
•
•107
•113
35
36
81
80
80
80
28
28
28
*27
♦90
92
*90
46%
4
*3»x
17V
*9
10
•36
38
*36
*7
10
*36'
3714
39
9
•7
9
•7
8
*9
10
*9
17%
*100
♦98
220
*216
220
219
220
♦219
220
♦216
116
*106
116
♦107
116
♦107
115
*108
116
35
35
{34 •
34
*937$ 100
*34
35
36iaJ
*35
•955$ 100
*955$ 100
♦95% 100
*95% 100
♦88
•8834
*88
*88
106*4 *161
16634 ♦160
91
166'4 *161
»....
*937$ 100
88
*85
166
*160
166
111
111
*65
70
*98
100
88
166"%
*109
111
*110% IIH4 •110U 111% *110% 111% *110% 111%
67
67
*65
70
677$
67*4
*67% 6812 *67*4 71
*98
100
*98
100
100
*98
100
*98
♦98
100
66% 67%
68
67%
677$
68
68%
68*8
681&)
681$
23
14la
86
*4712
4834
•105
*105"
17
17
697$
17
17 x
17
70
70
*68
71
*72
70
*72
76
*72
76
•21
23
♦22U
22*4
*21%
22%
31
*29l2
30
*27*4
30
*28
30
128
128% 129*4
20%
20%
125% 120*8
20
207$
125
129
•1912
21
•87
89
878t
87*4
88*4
89.
*271$
28
27
27%
27
27%
*99
.
100
100
*112
117
•99
117
27
153% 153%
26*4 26*4
*93
97
§96*4
26la
26
26
{97
19%
{23
97
19*4
23%
♦94
97
*87
88%
*87
201$
20%
19%
20
19%
19%
241$
887$
243$
24*8
24
24
23*4
88I3
.88%
24
88%
•201$
23
55
*52
64
35
21%
♦20
21
♦52
54
188
190
188
188%
186
35
*33
35
*34
35
♦33
35
"34
*32
*32'4
34
*32%
34
*321$
34
*63%
67
♦63%
67
*63
67
*64
67
♦64
24
•22
24
22
22
22
22
♦22
25
*22
25
*22
83
*80
84
80
80
♦79
82
*79
84
80
80
83
33*8
32*4
33%
32%
116% 117%
31%
31%
*117% 118
•11714 118
96
*90
94%
94*8
118
96
•91
•106
*105
...
•461$
•64
66
k
*23
*1012
23%
12%
*10%
12%
48
*46%
49
65
65
63
64
3l*s
69*4
72
*47$
5
23%
63%
627$
65%
109% 109%
54%
53%
31%'
31
31%
101
69
62%
63%
109
109
109
51%
31
68%
69
*10%
12%
*46
49
58%
63%
60
64
62%
"10778
63%
109%
109
62%
530%
53
30%
100
99
68%
70%
"70% 71%
71% "70"
70%
71% 71%
117%
•115
117% *115
119
*114
116
115
119% *114
119
*95
97%
96%
96%
96*4
97
96%
96*4
95*4
95*4
96
96
1131a ♦110% 113%
*110% 113% ♦111% 113% ♦111
•110% 113% *110% 113%
*115
BANKS AND TRUST
Ota
Ask
Ask
280
286
Central Trust
176
200
HlllaldeH
___
People's
145
125
Astor
Montauk Y.
140
Bankers'
<
•
205
1000
460
475
220
88
92
300
310
450
470
Farm L A Tr 1125
N Y City
1175
220
.
365
Tr.
B'way Trust.
365
Fidelity
210
475
480
Fulton..
280
116% Jan 22
767$ Jan
Sep
88
Oct
Dec
112
Jan
8
130
114
J'ne
6
Jan
J'ne 10
14% J'ne 11
J.'nell
73
18% J'ne 10
88% J'ne 10
109
J'ly 11
149
Sep 6
VIrginia-Carolina Chem.
Do
preferred
.....
36
Jan
101% Jan
17
J'ne 10
J'ne 11
14% J'ly 15
36
J'ly
1
15434 J'ne 12
23
J'ly 8
1
2134 J'ne 12
Sep 10
80
22684 J'ne 10
89
J'ne 10
78
104
J'ne 10
J'ly 10
4% J'ne 11
J'ne 25
22
9% J'ne 10
44% J'ne
6
677$ Sep 25
63
J'ne 10
•98
J'no 10
46
Feb
2834 Feb
7j|
Feb
96
Jan 18
106% Feb
158% Feb
27% Feb
98% Dec
Jan
Slii
Jan
.
.
2
140
_
40% Jan 31
667$ Feb 4
81
Jan
95
Dec
110
Jan 21
:J'ne
13
5684 Jan 31
Jan
9
50
4
Sep
May
May
May
Oct
80% J'ly
677$ May
45% Feb
Jan
75
107% Deo
$52% Jan
40% Deo
2
May
Sep
J'ne
177$
67%
22%
64%
Jan
75% Jan
79% Jan
119% Jan 17
112
Jan
2
115% Jan
8
J'ne 14
Deo
Oct
$4714
18058
113%
114%
Jan
67
58% J'ne 10
81% J'ne20
36
Feb
1684 Jan 30
68% Feb
109
Nov
69% Sep
4% Jan
35% Dec
3
3
77
605$ J an
43% Jan
114
Jan
Not
103% Oct
221
90% J'ne*
$34% Feb
4
Aug 20
99% Jan
3
81% Jan
Oct
93% Oct
68
10oh, J'ly
'
35
101
49% Aug
98% Aug
9
9
63% J'ne 10
077$ J'ne 18
Aug
Aug
Aug
40%.Sep
105
Aug
$24% Sep
175
J'ly
69% Jan
2
11034 Jan 30
3
Aug
Sep
Jan
497$ J'ne 11
102% J'ne 10
39% J'ne 10
22
J'ly
l
93
J'ne 30
768$ Jan
Oct
Aug
30
39% Jan
69% Apr
10934 Apr
•"
Apr
53
6
93% Jan 13
734 Jan
Jan
55%
122%
27%
100%
407$
103%
1207$
•
126
41% Jan
Nov
39% Jan
16% Jan
45% J ,n 28
Feb
Jan
15% Feb
04% Feb
89% Dec
99% Deo
283$ Jan 31
92% Sep 18
92% Jau
4
9984 Jan
213% Jan
113
Jan
77
Jan
36
Dec
10% Mch
Jan 21
22
85
87 7$ Aug
38
Sep
28% Dec
103
165
Jan
Oct
Nov
Sep
74% Jan
9f
Oct
95%
68%
1107$
$24%
Feb
50
8-
118
35
Union Teleg.
1st preferred
Do
Jan
100
62% May
preferred....
preferred..
95
90% J'ne 10
15
J'ne 10
72
\
12934 Sep 23
243$ Jan
2
22% J'ne 11
317$ Apr 26
Corp (The)
preferred
2d
9
Feb
$18% Jan
104
Milling
preferred
J'ne
26
61% Jan
105% Feb
56% Jan
2fc
1075$ Jan 27
(Chic)
.
Apr
131
88
Telep & Teleg..
preferred
161
Deo
12%, Feb
J'ne 11
__
Deo
122
92% Jan 30
9
]
90% Oct
$30% Sep
62% Apr
$23% Feb
19% Jan 30
May29
Aug
Apr
105
1247$ Jan
26% Jan
118
69
2
2
4
4
18
105% Jan
78% Feb
Oct
Sep
Jan
47% J'ly
1073$ Jan
23
1st
Trust Co's
116
May
85% May
80% Sep
117
Sep
167% Sep
57% Jan
122
1147$ Dec
71% Dec
Mch
86% Jan
891$ Aug
66% Jan
126
1147$ Jan
112% J'ly
Aug
1177$ Oot
116% J'ly
93%J'ly
Bid
Ask
Bid
Trust Co'f
Ask
990
1010
N Y Life A
Trust Co's
Tr]
3rooklyn Tr.
470
145
Guaranty Tr.
130
165
170
N Y Trust—.
600
615
Cltltens'
Lincoln Trust
120
130
Title Gu A Tr
412
420
Franklin
Transatlan tie
205
220
Hamilton
375
Home
Hudson
...
410
Metropolitan
Mut'i
...
370
U S Mtg A Tr
425
440
1110
150
United States 1090
350
Washington
365
People's
145
155
Queens Co
(West¬
140
......
490
155
250
....
Union Trust
125
ance
....
135
Mutual Alli¬
Bid
Brooklyn
NY City
City
140
300
560
270"
280
110
130
Kings County
530
Nassau
....
130
140"
...
385
206
10#
575
150
153
and asked prices; no sales on this day.
I Less than 100 shares.
Exchange er at auction this week,
s Ex-stock dividend.
% Banks
Bid
•took
985
Equitable Tr.
140
Nassau
Ask
Empire
100
425
Knlckerboc
Commercial
Trust Co's
80
Manufaet'rt.
400
Mechanic?121
•
215% Got
90
167
J'ne 10
1,500 Woolworth (F W)
Do
preferred
Columbia-
155
Mch
8
200 " Jau 28
Law TI A Tr
273
North Side 1.
....
J'ly
105% Nor
9234 Oct
10
Mall.
Do
NY
National City
155
Green point.
Homestead
Bid
300
146
..
Aug
102% Oct
9
Mch
COMPANIES—BANKERS' QUOTATIONS.
Trust Co's
155
Coney ial'd
'First
Oct
118
81% Jan 14|
31% Jan 22f
40
Jan
4
3,940 Wnstiiig-ouse El & Mfg.
NY City
Brooklyn
Brooklyn
Xlatbush
Bid
Banks
225
82% Jan
45,750 United States Steel.....
Do preferred
2,226
25,700 dUtah Copper
Par $10
100
150% Jan
105% Jan
36% Dec
397$ J.in
105
Jan
95
Jan
J'ne
10,850 United States Rubber
2,100
6
116% Jan 23f
20
3,900 Texas Company (The)
100 Underwood Typewriter..
Do
50
preferred
200 Union Bag & Paper
Do
150
preferred
300 U S Cast Iron Pipe & Fdy
Do
preferred
*~2,700 U S Realty & Improv't..
930
102% Dec
J'ne
4,000 dTennessee Cop ..Par $25
500
8
J'ly 16
700 Western
69
104% Jan
235
Mch
5
300 Studebaker
Do
29
4
J'ne
Standard
300
4
J'ne 10
Do
1077$
637$
109%|
51*4 53%
30% 31
*99% 102
53
100
101
*20
49
577$ 62%
63% 64
♦107% 108
64%
65% 63*4
63%
107% 107% *107% 108
5
26%
*47$
47$
26%
12%
*46%
101
69
72
68*4
72
68*4
*70%
26%
55
31*$
101
102
96
110
♦10%
*46%
65%
54%
30%
30%
•101
*90
*107
*23
109% 100%
65%
547$
96
110
66
64%
64%
637$
*90
♦107
12*4
64
638$
107*8 107%
109% 109%
96
110
48
*64
•1071$ 108
♦90
26%
123s
*46i2
115
114
♦107
107
{107
5
*47$
47$
*20%
♦10%
5
*23
637$
637$
110
*47$
47$
26%
121$
49
47$
31% 32%
1097$ 115%
Oct i
497$ Feb
89%
105%
55%
108%
13
Sloss-Sheffield Steel & lr
Do
Oct
Oct
60
400
600
109
Sep
100
56
preferred.
Corp of N J
Company
1,331
600 Railway Steel Spring.
Do
Dec
71
4
Sep 15
...
75
Pullman
30
J'ne
'
Jan
83
102
J'ly 18
9
Pub Serv
67
•
107
Do
34
67
118
2
Rumely Co (M)
.....
Do
preferred..
....
1,200 Sears, Roebuck & Co
*64
3314
Jau
300
•321$
3312
110
116
617$
187% 187%
517$
*32
3312
95% Oct
$5
•20
35
32%
845$ Apr
Dec
20% J'ne 10
104
J'ne 11
88%
24
190
35
34
Deo
90
0,375 dRay Cons CopperPar$10
1,090 Republic Iron & Steel
Do
preferred
200
19%
19%
*23
35%
34
35
Dec
03
3
65
527$
52
12
9
900
100
Jan
9
107% Jan 22
58
J'ne 9
21
*20
55
*51%
1901$ 190%
191
•185
88%
89
♦88%
20
23
153% 154%
*26
97
20%]
•521$
117
20
201$
•2312
*21
101
Mch
Feb
1,600 Pressed Steel Car.;
*99
*457$ Jan
19% May
«27$ May
18% Jan
Jan
preferred
26%
77$ Mch
20
94
dNevada Cons Cop Par $5
87
•111
48% J an 30 :
100
87
Mch
4
15% J'ly
93$ J an
7',
70
Pittsburgh Coal
Do
preferred
1,100
*25%
109% Sep
r$62% J'ne
$21% Oct
$10% Dec
12% Jan 30 i
19% Jan
44
33,985 People's G L4C
Sep
Sep
82% Sep
22% J'ne 13
83
J'ne 11
Lead
197$
81
Dec
4
Sep
Sep
J'ly
70% May
60% Dec
Dee
7% J'ne 10
36
J'ne 12
6
May 5
21%
5234
188%
427$
Feb.
30
Aug 18
30% Aug
Jan
155
_
105
27$ J'ne 10
preferred....
197$
Dec
$47
12% J'ne
preferred
Nat Enamel'g & Stamp'g
Do
preferred
100 Pacific
28
128%
100% Geo
20
9
20% Jan
3
111% Sep 15
11434 Sep 26
110% Sep 17
11434 Sep 19
4% Jan
2
95% J'ne 10
May 12
.
Do
2,750
22% Oct
89% Oct
9958 Dec
63% Jan
ill
preferred
400 National
149% Aug
Dec
.05% Jan
14% J'ly 12
J'ne 10
Mayi2
Get
Nov
Jan
4
96
Sep
10
81% Aug 18
68
Jan
~
111
700 Pacific
26
97
40
Apr
Oct
Oct
Deo
75
40% J'ly 11
21
♦94
•93
.
86
28
101
*99
*112% 117
153% 153%
153% 153%
*112% 117
*267$
153*8 1537$
•1521a 1537$
*26ia
27 U
*87
550
126
87%
26
May 16
May l
88% Sep
76
20
87%
257$
100
♦98
100
•1121$ 117
100
20
26%
20
f
♦113
13
Jan
187
Aug
43% Sep
11% Feb
37% Jan
25% J'ne 10
1,600 Mexican Petroleum
3,345 dMiami Copper
Par
National Biscuit
Do
Jan
Jan 22
Jan
18
44
129% J'ne 10
21
124% 128%
20%
88*4
20%
88%
934 J'ne 10
J'ne 10
Mch 19
13
Co (S S)
97
J'ne 10
preferred
297$ J'ne 7
Lackawanna Steel
91
J'ne 4
"150 Laclede Gas (St L) com
195
J'ne 6
566! Liggett & Myers Tobacco
106% J'ly 22
Do
preferred
21
J'ne 11
Loose-Wiles Bis tr co ctfs
320
89
Aug 4
Do
1st preferred
84
J'ly 18
Do
2d preferred'""166
J'ne 13
2150
Lorillard Co (P)__
J'ne 10
103
Do
preferred
'""166
Feb 20
66
300 May Department Stores.
97% J'ne 10
Do
preferred
'""310
Feb
23% Feb
135«4 Dec
33
Harvester Corp.
1st
16% Feb
80
_
61% J'ne 10
94% J'ly
8
70
997$ Dec
$25
Oct
40%
72%
95%
101%
33%
109%
$50%
ov
Feb
1423$ Jan
17% Jan 31
79% Jan 31
100% Jan 16
21% Jan
2
7% J'ne 10
Sep
J'ne
119
Dec
84
41%
125% J'ne 10
25
80
49% Dec
3
47% Jan
24% J'ne 10
440;New York Air Brake
'North American Co (new)
21
29
20%
*28%
22
22
J'ne 10
30% J'ne 10
*70
76
*70
76
*70
17
N
28
Jan 30
103% Feb
30% Feb
97% Mch
__
Oct
Aug
13f% Mch
86
Aug 20
J'ne 10
96
100 Kresge
Do
10
120
49
*47
47*4 47*4
47*4
1081a
107% *105
*103
107% ♦105
*16%
167$
16%
167$
16%
16%!
*65
70
70
•65
70 I {70
108
*104
108
17
124
129%
47%
49
♦47*4
108
Do
,
♦68
*28l2
23
23
♦127
121
•131$
•81
66%
22*4
23
23
227$
23
23*8
23%
23l2
129
*126*4 1297$ ♦125
12978 *126% 1297$ *127
120
*117
121
*117
121
121
1203$ 120*8 5121
13
13% 13%
♦13%
13%
13%
14%
14%
♦13l2
*82
♦82
86
*82
186
86
♦82
80
*82
23U
•1261$ 1297$
•118
...
66%
66% Feb
Oct
127%
00%
108%
51%
Dec
10234 Feb
27% Feb
50% Feb
Aug 12
May
$43
Feb
49
13778 Jan 27
31
Feb
8
z88
preferred
Do
225
♦108
•161
9
74
7
J'ly 23
45
Kayser & Co (Julius)
102
*216
;
41% Jan
Aug
pref stk tr ctfs
300 International Paper
Do
preferred
"""206 Internat Steam Pump
80%
*98*4 101%
*38%
40
116
36%
16
Do
100
86
220
536%
105% J'ne
149% Mch
324% J'ly
100-3$ Jan
105% Feb
8
6
Men 27
tnt Mer Marine stk tr cts
108
•216
36%
25
preferred
Do
80%
•109
•35
$34
7
62% J'ne 10
121
J'ne 10
Copper. _iPar $5
1 Internat
"""166
30
*23%
♦78%
2
53% Jan
J'ne 10
100% J'ne 25
25
J'ne 10
preferred
700 dGuggenh Explor Par $25
a Insp'n Con Cop Par%20
2,125
301 Internal Harvester of N J
Do
preferred
200
47
30
•231$
30
40
Do
100
*46
46
46
46%
16
16%
16%
16*4
16%
♦107
108% •104*4
114% *113% 114% 114% 114*4
*104*4 108%
110% •104*4
30
•23
30
*23%
30
*23%
*78%
86
85
*78%
85
85
*78%
*78i2
85
108
108% *106% 108% *100
♦1061$ 10812 *106l2 108% *106%
*78
83
*80
83
83
*80
843
*78i2
*79
85
♦98*4 100
*100% 102
102
*100% 102
5102
•997$ 102
*38% 40
40
*38%
40
40
*38%
•38i2
*3812 40
102
102
*98
101*4 101*4 ♦98
102
*100
•98
102
♦231a
•78la
v
.
114% *1137$ 114%
116% *113
*3%
4
3%
3%
♦3%
4
16
16
*16
17%
♦16
17%
9
9
*8%
9%
*9
9%
*36
♦36
39
36
38
*36
*7
9
*7
81$
7%
7%
4
*3%
*16
16*4
•16
32% Jan
120
Sep 23
Sep
124
Jan
Jan
Feb
Jan
41% Jan
Jan
7
75
1,350 General Electric..
2,800 Gen Motors vot tr ctfs
Do
pref v t ctfs
700
600 Goodrich Co (B F)
92
161$
Do
"""166
29
91
27*4
♦90
dChino
Aug
16
307$ J'ne 10
preferred
pref
2,030 Distillers' Securities Corp
Federal Mining & Smelt'g
81
■
28%
94% Mch
41% May
Do
14
*38% 42
146% 1467$
37%
39
38*4
146% 146%
31
50 Deere & Co
99
13*4
*11
37
•108
4%J
*31$
•16
*96*4
13*4
38*4
Nov
Dec
800 Colorado Fuel & Iron
2,100 Consolidated Gas (N Y)_
2,000 Corn Products Refining.
32%
132*4 133
10%
10%
*67
69%
14
*11
42
16
10%
16%
16%
108%
110% §109% 109%
*1127$
♦1127$ 116
116
*1127, 116
110% {110% 110% *106
109% *109
♦113
*113
116
116
♦113
116
'■
,
,
23,600
417$
146
47
80
41%
32%
♦77
37
80
•88
2812
94
37
37
86
807$
28%
•77
*92
18
79
25% Jan
,
52%
96
23
146
146% 147
14712]
52%
*93%
♦22%
{97
" 97
13%
14
14*4
14
14%
*35
371^
♦35
*67
99%
*38%
♦381f
•146
54%
22% Sep 23
82
Sep 19
preferred
100 Brooklyn Union Gas
Butterick Co
"6,570 California Petrol v t ctfs.
Do
preferred
1,400
Case(JI)ThreshMpftr cfs
"""760 Central Leather
Do
preferred
200
19
19
20
54%
96
22*4
94
41*4
32*4
133%
10%
69%
70
14
151$
•11
18%
115%
1375$
241%
101%
Do
700
128% 128% *127% 129
*26% 27*4 *26*4 27*4
55
55
43%,
*32%
27*4
19
116% Jan 28
140
Jan
3
294% Jan 10
106% Jan 27
74
1,200 Bethlehem Steel.
73
*72
72
72
♦93%
♦93% 90
22*4
22%
23
93*4
93*4 *92%
40*4
41%
42
*31%
31*4
32
132*4 133% *132%
10%
107$
11
94
43U
•93814
433*
19
35
Aug
44% Oct
143% May
16% J'ne 10
May 7
new—..—
preferred
Do
50
106
35
72%:
*26*4
*17*4
27*4
♦267$
17%
*104
35
129
*128
27*4
201$
106
35
,
J.'.n
iu% Dec
110% J'ne 12
125% J'ne 10
J'ne 6
96
J'ly 11
200
Baldwin Locomotive....
300
105
Feb
26
40% Feb
3
Jan 31
9
1
50 Amer Writing Paper pref
6,100 aAnaconda Cop Par $25
800 Assets Realization
44
44
•J 04
-
35
72%
73%
*128
129
•93% 106
•23
80
44%
104
*104
19
64
44
45%
74
♦128
•93U 108
37*4
3612]
•261$
43%
77
♦44%
45%
37
38%
09
Jan 21
105
6
118
preferred
Do
82
25
104% J'ne 12
Woolen..—..
100 Amer'can
18
37
*16%
221$
Preferred,
200
22%
*80
Teleg
J'ne
J'ne
100
preferred
Do
Amer Telephone &
1,200 American Tobacco
"l",335
101
101
25
85
108
20%
20%
*59
237
*82
78
27%J
*261$
237
100% ♦100% 101
*21 *
♦7212
130
•128
236%
25
30
74
♦721a
116%
131% 131%
237
239%
*21
17i2
•441$
36laj
•3534
111%
116
131% 131%
25
3812]
♦104
106
•104
111
♦114
111%
111
*115
116
-131%
*21
78
♦79
31
Highest
Lowest
Highest
Lowest
Industrial & Misc (Con)
Airier Snuff pref (new) ..
90 Amer Steel Found (new).
800 American Sugar Ref ning
102
♦29
85
♦821$
11712
381$
18
*1612
♦100
31
25
♦2212
85
•82
102
♦29
29
112%
31
♦30
♦100
102
*100
102
♦100
102
•100
102
♦100
Shares.
Previous
Year 1912
EXCHANGE
Week
Sept. 26
Thursday
Sept. 25
Wednesday
Sept. 24
Tuesday
Sept. 22
Saturday
On
NEW
the
Frida»
far
Range
Since Jan. 1
basis oj 100-s/iare lots
Range
Sales of
LOWEST BALE PRICES
AND
STOCKS—H1QHEST
preceding
usually inactive, see second page
week of stocks
record of sales during the
For
869
Record—Concluded—Page 2
New York Stock
271913.]
chester)...
.
Westchester
.
a Ex-dlv. A rights, b New stock, d Quoted dollars par
marked with a paragraph (fl) are State banks, s Ex-divldeud.
$ Ex-rights,
..
share,
* Bala at
-
-
V./
f
V
New York Stock
Jan. 1 1909 the
Exchange method
N.
BONDS
Y. STOCK
EXCHANGE
Week Ending Sept. 26.
U. S.
D S 2s
U 8 2s
U 8 3s
U S 3s
U 8 4s
|t
coupon
1925
....
are now
96
Jan. 1
No.
High
Low
98
"
96
96
5
Q- F
High
S95% 10H4
10134 103%
101»4 103«4
110
114i8
114i2
95% 100%
99% 103%
110
---
Foreign Government.
Argentine—Internal 5s of 1009. M-SU 96% Sale
Chinese (Hukuang) liy 5s £
J-D|)
90
Imperial Japanese Government
Sterling loan 4Hs
1925 F-A 1 88is
8884
2d Series
4^s
1925 J-J I 86%
88%
„
_
,
_
Sterling loan 4s
Republic of Cuba
785S
-r-1931„
80
)100%
J-J
95
M-S
1*84 "
}
87
90
J-D
M-S
92
84
...
102
1959
Railroad.
Atch
Arbor 1st g 4s
7il995|
Top & S Fe gen g 4s_1995
Registered
Adjustment gold 4s
*
hl99
Short Line 1st 4s gold
1058
.
Registered
A-O
BaitRegistered
& Ohio prior
P uuutuw 1U J/IV
June & M Div
P L E & w Va
1933
r
....
1922
J-J
O V
West 1st g 4s gu
1998
CI & Mah 1st gu
g 5S....1943
ROcb & Pitts 1st
gold 6S..1921
Consol 1st g 6su
.1922
Buff & Susq lstregg4s—dl951
Canada Sou cons
Registered
....
g
3d
10158
10734
108%
60
Mid Ga &
stamped.
Registered
hi987
97
88i2
97lS
473
86
87
8834
86i2
Apr 13!
Sep '13
100
12
ne
103l2 103l2
96i8
J'ly'08
97
1103s
10434
9534
9534
38
106
Refunding
J-J
99
J
f-:J
Feb'13'
115
100
.
87
4s__el920 Q-F
85l4
:::.i
Bk
City 1st
con
g
Bk Q Co & S
5s_1945 A-O
2002
5S..1916-1941
con gu g
J-J
J-J
J'ne'13
100
100i2Jan '13
8334 Sep *131
100*4 Sale 100%
88% Sale
100
5S..1941 M-N
100
100% 100%
83
90
Bklyn QC0&8 1st 5s___1941 J-J
F-A
9958 99*4
99%
81% Sale
81% Sale
F-A
F-A
Nassau Elec
guar g >ld 4s_1951
F-A
J-J
F-A
J-J
99%
24
89
74
-
-
*.
.
16
82
8
81
77
98*8
98%
100
J-D
F-A
A-O
•
No price
Friday; latest this week,
70
m
m
m
*
*
98
101
99% 101%
9938 10134
81% 82
81%
86
75
78
96
m
95
93*4
77% Sale
d Due April.'
98%
70%
71
Apr '1
98
J'ne'l
93% Aug'l
76%
"95%
9
68
99%
75%
_A__
98
98
93%
98
,
107
100
«
D(te '12
10j% Aug' 13[
10078 Aug'l3|.
114%
•
J'cw'13
90% Sep '03
109%
104
105
99% 103
121%
107% 112%
107%,
114% 114%
113% 113%
88% 94
_A-925S 92% Sep '13
115
106%
Jiy 'll
105%
10S% Mch'13
103% 105
104% Sep '13
109
.1.
106
Aug
...
108% 10~8~%
103% 106%
...
10j
.
85
86% Sale
87
84 *
94%
74
78
74
89
7G%
77
72
90
98
*
"95"
91
Dec '
"
160
9978 May'131
49%
55%
64%
87%
85
103% 108%
99%100%
106
97
,
79%
Jan '13i
106
95
106
Sep '13
95
98
7978 Aug'13]
Aug '13
118
114%
81
89%
101% Sale 101%
113"
119%
113
129%
100
105% 108
M-S
12^
97
Sep '11
94% J'Qe'll
Sale 50%
54
626
5578 Sep '13
85
85
J'ly '13
103%
103%!
108" 105% Sep 1M
95
97
94
Dec
79% 89
114% 120%
'12]
101%
Feb" 13!
May '0®
12
J-J
98
A-O
119
102%
120%
Aug'13
106
109%
106%.... 107%J'ne'13
86
84i2 J'ne'13
M-N
106
107%
89%
90
..
84
Page.
Due May.
227
g
71
81%
Due June,
Rap Tr 5s Ser A_l»„~ M-N
Manhat Ry (NY) cons g 4s.1990 A-O
Farmers
104% Sale 104%
105
92% 95
92%
92%|
90*4 91
88% J'ly '13
50
64
May'12
62% Jan *13
59% Mch 12
Loan & Tr ctf_.
Stamped
Bway & 7th Av 1st
C
:
g 5s.1943 J-D
101
102
98%
101
99%
99%
h Due July.'
* Due Aug.
J-J
F-A
104
74
104
84
F-A
J-J
92
J-J
0 Due Oct.
p Due
100
91
102
Nov,
99
62%
103%
99
97% 101
Nov'12
104
102%
107%i
100%
ibT
93% J'ly
102% 101
....
101
J'ly 13
97% May'13
74
J'ly'12
74% J'ly '12
cons gu 4s__2000 J-J
Central Trust Co certifs
Cent Tr Co ctfs
102% 105
86% 95
87% 95%
62%
99
106%
♦
; Third Av RR
Third Ave Ry 1st g 5s_>
1937
Met W S El (Chic) 1st g 4s. 1938
Milw Elec Ry & Lt cons g 5sl926
Refunding & exten 4)$s__1931
Minneap St 1st cons g 5s
1919
"
104
114% Feu *13'
113% Mch'13
....
106
105% 105%
117
109% 111% 108% Aug'13
104
107% 104
Sep '13
109%
08%
108
100% 107%
100% 100%
11/
....
84%
92%
101
-
96
85%
84
957g|
106
-
96
78%
Sep '13;
105% Aug*l3J
May'lJ__
104% Oct T'4-..
102% 101% 101
J'ly *13
-
105"%
96
S3
104
102%
100%
102%
95%
106
98
110
102% 102%
104%
107% 109%
Jan '13
95
102
«
94
100%101
106
110%
84% Jan '13!
Sale
stamped
93
e
85
J'ne'13]
82
^
95
103
F-A
J
'R
J-D
Col <Sc 9th Av 1st gu g 5s_j.l993 M-S
Lex Av&PF 1st gu g 5S.1993 M-S
----
70%
m
106%
104%
99% 103
102% 104%
104% 106%
101% 105%
J'ne'13'
96
Sale
"""'I
"5378
Stamped tax-exempt
..1990 A-O
Metropolitan Street Ry—
Refunding gold 4s
2002 A-O
1
98
....
J-J
100
100
110
88
A-O
9934 102%
5
75% Aug' 1
98%
J-J
*/!-S
144
138
101
.
S3
85
" "9*1%
76% Sale
mterboro
101
.
99%
74
....
106
79
86
77% Sale
2002 M-N
99% 103%
84% <J238
98
99% Aug'13
81%
81%
Next
Sep '13
-
91
1988 J-J
1934 A-O
1932 J-J
Superior Short L 1st 5sgffl930 M-S
Chic& West Ind gen
g 6s__?1932 Q-M
Consol 50-year 4s
1952 J-J
on
97
Aug'13|
100%
...
99% 100%
9034 99
98%
16
Street Railway
100%!
100% Sep *13
98
Apr '13
101
Mayl3
98
.___i_1933 M-N
1st Gs__ 1933 A-O
-
115
Street Railway
1st refund conv
gold 4s
1921 A-O
.1921 A-O
1933 M-N
II
90
MISCELLANEOUS BONDS—Continued
Brooklyn Rapid Tran
,.1379-1929 A-O
Keok& Des Moines 1st 53.1923
8tPauL& K C Sii L 1st 4Hs 41
98
102%l|Chic St P M & O con 6s.^—I939
Cons 6s reduced to
3Hs--ly30
99*4 101%
Debenture 5s
,-s.
1930
Ch StP& Minn 1st
112% 11938
g 6s..1918
112% 11812
North Wisconsin 1st 6s
1930
St P & S City 1st
10134 105%
g 6s-... 1919
112*4 114U 11312
113i2
103
105i2 104
Sep *13
100
1879-1929 A-O
...1879-1929 A-O
1879-1920 A-G
Registered
'
2002 M-N
R 1 Ai'k & Louis 1st
4)^8.1934 M-S
Bur C R & N—1st
g 5s___1934 A-O
C R 1 F & N W 1st
gu5s_1921 A-O
M & St L 1st gu
g 7s
1927 J-D
Choc Okia& G gen
g 5s__ol919 J-J
Consol gold 5s
1952 M-N
90
166" 105%
71
77%
116% 125
103
105%
6
...
M-N
..1987 M-NI
109
106% 108%
97% 98
J'ne'11
88
._pl987 Q-F
5s
103
...
.....1987 M-N
gold 4s_
119
97
....
cons
5s
80
107
110
109%
J'ne' 13]
100% 102% 102% Apr '13
102
101% Sep *13]
10678
107%
1073m
100
Ma>"13
190% Aug-12
103% 104% 103%
103%
91%
95% May'13]
J-J
102
Dec '11
•
J-J
Gs
84
83%
1U338 Sale 103%
103%
3
101
J'ne'13
Sale 101%
102%
102% Sale 102«s
102%!
102
1U4'% May 13]
102%
102%
102%
91% Sale
91%
91%
,1913 J-D
...
687S
11
102
J-J
5s
Dec
86
J-J
J-J
Coll trust Series L
4s—-1914 M-N
P 4s
.1918 A/1-N
Dec '11
MX*!!!:
Sale
1920
99*4 100%
90% 96%
72fl
99%
9934|
93%
94%!
98% Feb '13
Sale
"89"" *90
J-J
Chic R I & Pac Rlt 4s
Nov'11
115
....
83%
U058
lOGU IO6I4
107U Jan 12
102i2 Sep *13
I00-4 May 11
101
Sep '13
QQ
t-3
110
10478i
107
99
94
104i2 IO6I4
96
J-J
'9934 IQ"O>4
J-J
ii.-_-_.19l3 J-D
20-year debenture
48
11
l)cc '11
90
4
Registered
1071411012
108U 11178
IO6I4 Mch'13
85
f| 6s
Wis Vail Div 1st 6s
Mil & No 1st cons
6s
FremElk&MoV
10S12
103
-
104
J-J
Man G B & N W 1st
3.Hs 1041 J-J
Milw & S L 1st
gu 3Hs
1941 Jr J
Mil L S & West 1st
g 6s__ 1921 M-S
Ext & imp. s f gold 5s__1929 F-A
Ashland Div 1st g 6s—1025iVl-S
Mich Div 1st gold 6s
1924 J-J
Mil Spar &N W 1st
gu 4s_ 1947 M-S
Northw Union 1st 7s
g—.191? M-S
Winona & St P 1st ext 7s_1916 J-D
Chicago Rock lsl & Pac 6S.1917 J-J
Registered
..1917 J-J
General gold 4s
—1988 J-J
101
105
103
105
s
97
97%
J'iy 12
90% Aug 12i
91
—
1st gu 43.1949
1st
Registered
89l2
90l4
9014
8212
93
97%
86
~
J-D
1934 J-J
(whissued)
93
....
1932 J-D
Debenture Cs
Registered
Sinking fund deb
Registered
85's Oct '10
Leh & Hud R gen
gu g 5s.l920| J-J
N Y &
Long Br gen g 4s__1941 M-S
Cent Vermont 1st gu
g
91R
93
May'13
-
J
J-J
J
Far & Sou assuin
g 6s
1924 J-J
La Crosse & D
1st 5s_...1910 J-J
Wis & Minn Div
g 5s__
,1921 J-J
Sinking fund
Registered
Sinking fund
9134
9012
977S
Sep '13
103
g 5s
Am Dock &
Imp gu 5s___1921
88
89 ig
Apr'12
1047S 10438
_
.1846 J-J
Cen RR &. B of Ga col
g 5s.1937 M-N
Cent of N J gen'l gold
5s_
1987 J-J
.
921
88
1105g Mch 13
4s_._1951 J-D
g 5s..1946
Atl Div 5s
1947
Mobile Div 1st
16
'"58
Sep '13
10034 Jan
104
el 989
J-J
J-J
cl989
el 989 J-J
Registered
25-year deben 4s
Extended
J'ne'13]
105% J'iy '13
75
75% 75%
75%
118
116% 117
Aug'13
103
102% 108
Sep '13
91% 96% Apr 11
M-S
98%
93
"97" ..I.
J-
7s..1915 Q F
1886-1926 F-A
•Registered -____-.1886-1926 F-A
J'no'12
106
105% 106
_
g
91
10714 J'ue '13
IO8I4 Aug'13
45'2 Apr '13
....
Registered
Gen'l goid 3Hs Ser B.
....
May'13
103.
....
J-J
Louisv 1st gu 4s-„_1956
Chic Ind & Sou
50-year 4s_.1956
Chic L S & East 1st
4)£s
1969
Chic Mil & St P terml
g5s__19l4
Gen'l gold 4s Series A
el989
General gold 3Hs
Registered
General 4 s
10314 Apr '13
9534 Mch'13
90
pref income g
5s__I.pl945 Oct
Chatt Div pur raon
Mac & Nor Div 1st
8612
91
pl945 Oct
pi 945 Oct
5s stamped.
,3d pref income
g 5s
35
89%
97
99
1942 FA
Chic & Ind C
Ry 1st 5s___1936
Chic Great West 1st
4s..__1959
Chic Ind &
Louisv—Ref 6s. 1947
Refunding gold 5s
1-1947
Refunding 4s Series 0
1917
Chic & Nor West
103
....
J-D
95
11 •-> 12 I' eO '12'
91
1st pref income
g 5s_
2d pref income
g 5s
2d pref income
95
Jau '12!
10j....
J-J
Pur money 1st coal
5s
85%
101% 103%
95% 99%
....
100%
Oct '12
.
M-N
1937 M-N
100
93%
13
101%
Aug '13)
96% SeD '12
97% May'13
105%
10212 10684
103'2 Apr '13
985S
95
Registered
A-O
Extension 4s.
IU2I4 J
101
A-O
..'.1962 A-O
C
J'ne
63%
98
•
jrj
1920 J-J
107
50
82%
100
Apr 13
93% 94
93%
935aj
G634 72
69%'
69%
107
108%
J'ly '13]
100% 101
100%
100%[
101% 106)2 Jan 'I3j
92
9734 Feb '13!
M-S
1919 J-J
Aug'12'
100
106
1913 M-N
Dak & Grt Sou
gold 5s
10318 103ls
87
95)4
5412]
See Great North
5s
General 4s
_____1958
Chic & E 111 ref &
imp 4s g_1955
1st consol
gold 6s
1934
General consol 1st 5s
1937
Dubuque Div
107
24
68"
99
94
..
98" II
91
9312
85i2 92
96U IOOI2
13
Oct
105
9912
gu A 5s_1902
FeD
8634
•8334
105
105
Debenture
88
64
8434 Sep '13
86% Aug 12!
94%
94%]
93
101%
84%
93%
84%
10!
53%
99
84i2
101%
9912 9634
9534
166%
67
III.
97
Gen 4)^s Ser C._
>_c 1989
Chic & L
Sup Div g 5s___1921
Chic & Mo Riv Div 5s
1926
Chic & P W 1st
g 5s.....1921
C M & Puget Sd
9534'
92*4
93
54l2
Sale
99%
92%
86%
79
85%
Mch'13]
Oct
'9410 *95i2
1919 A-O
99%
88
87
67
53l2
101
"91% 101"
12b
"ii
86
95
a.
102
110
131
89
99
Nebraska Extension 4s_..1927 M-N
Registered
1927 M-N
Southwestern Div 4s
1921 M-S
Joint bonds.
J'ly
67
8234
105«4
9278 10358
98
1056s
9912 100
Sep
86
102
F-A
98
93
Sep
112
8678 Sale
88*4 sale
Central of Ga 1st gold
5s__pl945 F-A
Consol gold 5s
.1945 M-N
Registered
1945 M-N
25
S3% Aug'13
91i2
A-O
7978
98's
9212
92i2
101
9038
_•
86
High
95
80%
85% Feb 13
88% Oct 12
.01% Mch'13|
8434Jaq '13
91
63
1919 A-O
4s
Convertible4Hs
89i4 J'ly *13
92i2
9314
.
8412
"
.
Div 4s
Registered
88
97
,
86i2
Low
103
99%Mch'l3
98%
83
No.
High
80
....
J-J
1949 J-J
.-1949 J-J
Iowa Div sink fund 5s
83
89is
Sale
105
Sys ref 4s_ 1941 M-Pa
Southw Div 1st gold 3 {-os.1925 J-J
Cent Ohio R 1st eg 4
Hs—1930 M-S
CI Lor & W con 1st
g 5s..1933 A-U
-Morion River 1st gu
g 5s—1919 F-A
Ohio River RR 1st
g 5s___1930 J-D
General gold 5s
1937 A-O
Pitts Clev & Tol 1st
g 6s__1922 A-O
Pitts & West 1st
g 4s_
1917 J-J
Stat Isl Ry lstgu
g 4Hs._1943 J-D
Buffalo R & P gen
g 5S-...1937 M-S
Consol 4 Hs
1957 M-N
All &
:
97
...
J-D
J-J
J-J
Range
Sep '13
105%
105%
109% Nov'12|
96%
97%|
1949
Ind &
123'8 J'ne 12
il05g May'll
Sale
93
,
lstg(3)$sl925M-N
U 7
L"
A
75
10334 Sep ']
93% Sale
Ask Low
101
100%
80% Sale
81)2 87
1989
Convertible 4)2s
107
100
*89
hl048 Q-J
Pitts June 1st gold 6s
JL
91
1925 J-J
Registered
20-yr conv 4)£s
59
70
103% Feb '13
915s
92
..
Range
105i4
.1930 F-A
1944 J-D
Registered
8814
99
893S
91
...hl925 Q- J
hi843 A-O
Gold 4s
8H2
.
10234
Since
Jan. 1
-
J-J
J-J
Greenbrier Ry 1st gu g 4s_1940 M-N
Chic & Alton RR ref
g 3s
1949 A-O
Uaihcay 1st lien 3)^s
1950 J-J
Chic B & Q Denver Div
4s_1922 F-A
Illinois Div 3)^s
.1949 J-J
86
95
89
gold 5s
i
a_1934 A-O
Sil Sp Oca & U
gu g 4S...1918 J-J
_
Coal River Ry 1st
gu 4s__1945
Craig Valley 1st g 5s
1940
Potts Creek Br 1st 4s
1946
R <fc A Div 1st con
g 4s
1960
83
91
114
1st
General gold 4Hs—
86
10038
91i2
99
12H8
99
42
20
95
98
J-J
MrN
99
9914 J'ly "11
'.II
1929 J-J
1939 M-N
M-N
Registered
86
I01l2
8H2
Met) '13'
95%
96
...
10134
8558
J-J
8034
977g 10IS4
9738 10118
99
101S4
86%
86%|
9912 May'13
95%
951s
"96 "
915a Sale
or
—1939 M-N
M-N
1992 M-8
M-S
1992 M-S
Registered
Convertible 4Hs_.
Big Sandy 1st 4s
86%' Sep '13
101%
M-Pi
Registered
Week's
Last Sale
BUt
1st consol gold 5s
86
85
103
100
97
4814
95
9478
* 87
-
102
10512
10J34
*7
71«4 Aug'13
94i2.
95%
Sale
—
100
100
17
101
48
7334
98%
hi952 M-S
8
48
"oT "95
J -J
to £
9978 i05l2
99
Apr *13
Sl% Sep '13
....
Price
26.
Chesapeake & Ohio—
Gen funding &
impt 5s
Sinking fund
31
10214
84%
100i2
Cal-Ariz 1st & ref 4 HsL__1962 M-S
8 Fe Pres & Ph 1st
g 5s..1942 M-S
Chic & St Louis'1st 6s
1915M-S
Atl Coast L 1st
gold 4s_../il952 M-S
Ala Mid 1st gu
gold 5s
1928
Bruns & \V 1st gu gold 4s_1938
Charles & Sav 1st gold 7s_1936
L & N coli gold 4s
.01952
Sav F & W 1st gold 6s
1934
...
94%
95%
Debentures 4s Series K__. 1913
East Okla Div 1st
g 4s__.1928IM-S
'
101
8234l
Sep *13
9778 Aug 13
9734 Sep '13
99
J'ly '13
103i2 J'ly 10
863s Sale
7i 19 9 5
Conv 4s issue of 1909
1955
Conv gold 4s
-._..._i_..1955'
Conv 4s (issueof
1910).—1960
10-year conv gold 5s_
1917
2
82i2
...
86
/il995
...
13
is
99
...
95
1995
-
Registered
Stamped..'
82%!
100
71
*
155
102
101% 101
102% 102
101% 10078
97
6s deferred Brown
Bros ctfs—
10178
94i2
95
9434 Sep '13
9434
9434
102% 10214
10214
99%
85
defaulted bonds.
Friday
Sept. 26
Y.
STOCK EXCHANGE
Week Ending
Illinois
income and
BONDS
2d consol gold 4s
9538 10034
995g 102
90<4 97»8
90i2 9734
9134 9734
95
99
'
....
30
9758
95
98
Virginia funded debt 2-3s__1991
8312
of $5
the b asis
on
Sale
9434
9434
102%
100%
102%
1005s
82%
Y State—4s
1961
Canal Improvement
4s—1961
Canal Improvement
4s—1962
Canal Improvement
4s—1960
South Carolina 4 )4s
20-40..1933
Tenn new settlement 3s
1913
101
973s
Sale
95
1963
N
nn
Aug '13
p rices
are
9758 Sale
4% Corporate stock
1958
4% Corporate stock
1957
New 4)48.
—1957
New 4)4s..
1917
4)4% Corporate stock
1957
4)4% assessment bonds
1917
3)4% Corporate stock...1954
-
99i8
92
835s 90sb
82)8 89i4
75i2 83
9912 10212
9-4l2 97U
96i2 97l2
84
8912
90
95i8
9434 J'ly '13
96% J'ly 13
8478 Sep '13
90
Aug'13'
85
May'13
I"
Q-J
Thett
a
80
101
...
94
0
I960
95l8
85
88% Sep
88% Sep
o
F-A
State and City
Securities.
N Y City—4)4s__
4Xs temp rects (w i)
4% Corporate stock
14
97
Sep *13
A
5s exten debt. M-S
External loan 4 )£s
1949
San Paulo
(Brazil) trust 5s.1919
Tokyo City loan of 1912 5s.—
U S of Mexico s f
g 5s of
1899
Gold 4s of 1904
1954
96%
90
all—"and interest"—except for
Sept.
9534101%
98
Sep '131
102% Sep '13
1G2%
102%
109)2 110)2 110 Sep T3j
109% 110*4 111
Aug *13
96%
95l2 J'ly '13
100
99% 100
Sep'13
10214 103
102% 103
U S 4s
coupon
,1925 Q-F
U S Pan Canal
10-30-yr 2s *1936 Q-F
U S Panama Canal 3s
g—1961 Q-M
N.
Since
or
Love
£**
97
!
Range
Last Sale
96
*1918 Q-F
..*1918 Q-F
...
registered
Range
26
BW
.
dl930 Q-J
dl930 Q- J
consol coupon..
registered
Sept.
was
Week's
Friday
*».
,
registered
Exchange—Bond Record, Friday, Weekly and Yearly
changed, and prices
quoting bonds
Price
Government.
consol
01
g
06
J'fae'13
Apr *13
91
91
N0V'12|
Due Deo.
*
Option late.
SEPT. 27
BONDS
STOOK EXCHANGE
Week Ending Sept. 26.
N.
Y.
'
Is
3afe
guaranteed 4s
Oin D & 1 1st gu g 5s
O JTind& Ft W 1st gu4sg.l923
M-N
1953 J-J
Oin 1 & W 1st gu g 4s
....
86*i
98>4
80
88
Ind Dec &
gold 5s
Oleve Oin C & St L
1993 J-D
.....1931 J-J
gen 4s
20-yr deb 43^s
Cairo Div 1st
—2 *98U lddis
M
i0"3"
86*4
D
rnmmm
[07*2 D
88i2
89i2
....
J'
86*4 F<
90
----
87
86*4
m.mm
-
89
S<
8712
92*8
M
90
90
8914
89U
831,
01
.1939 J-J
877,...
89i4 F<
Cin W & M Dlv 1st g 4S..1991 J-J
801, 84
*"*i
85
835g
St L Divlst coll tr g 4s
1990 M-N
831,
91
O
Registered
1990 M-N '»—.
—
81
A
Spr & Col Div lstg4s...-1940 M-S
811, 86
91
A
W W Val Div 1st g 4s
1940 J-J
81*2
O I StLA C consol 6s
1920 M-N
1047g ....
1st gold 4s...
.*1936 Q-F
92U
Registered
...*1936 Q-F
92U .... 90
Oin S & CI con 1st g 5s—1923 J-J
101U .... 103
O O O & 1 consol 7s
1914 J-D
100^4 101*4
Oonsol sinking fund 7s
1914 J-D
120
Mch'13
General consol gold 6s__1934 J-J
Registered
1934 J-J
82
94" J'ly" 08
Ind B & W 1st pref 4s...1940 A-O
O Ind & W 1st pref 5s
dl938 Q-J
82 * ~827g
Peo & East 1st con 4s
.1940 A-O
35
36
Income 4s
1990 Apr
1
26
26
28
Col Mid and 1st g 4s
1947 J-J
24
26
Trust Co. certfs. of deposit
"17
92
92
Sale
Colorado & Sou 1st g 4s
1929 F-A
92
92*4 92*4
Refund & ext 4 Ms
..1935 M-N
107
107
107
Ft W & Den C 1st g 6S...1921 J -D
Conn & Pas Rlvs 1st g 4s
1943 A-O
100 ~ May" 10
Cuba RR 1st 50-yr 5s g
1952 J-J
81
iw8
10514
90
90
103
1101, H012
120" 120"
....
"79" "89"
35
tel Lack &
1915 J-D
1915 J-D
1st conso. guar 7s
Registered
2000 J-D
1921 J-J
1923 F-A
1stref gu g3Hs
N Y Lack & W 1st 6s
Construction 5s
Term & Improve 4s
1923 M-N
2000 F-A
1917 M-S
.1917 M-S
1916 J-D
1922 J-J
Warren 1st ref gu g 5 Ms
Dei & Hud 1st Pa Div 7s
Registered
deb 4s
1st iien equip g 4Ms
conv
;
1943 M-N
1st & ref 4s...
Alb & Sus
conv
1946 A-O
SMs
101
104
"84 " HI"
71
...
10712
1939 J-D
1940 J-J
1939
Mtge& col trust 4s A
1949
Utah Cent 1st gu g 4s_al917
Des Moi Un-JRy 1st g 5s
1917
J-J
A-O
Dul Missabe & Nor gen 5s_ 1941 J-J
Du. & Iron Range 1st 5s
1937 A-O
Registered
97
87i2
g 5s
1937
~^lgin Jol& East 1st g 5s__ 1941
'rie 1st consol gold 7s
1920
N Y & Erie 1st ext g 4S...1947
2d ext gold 5s
1910
3d ext gold 4 Ms
1923
4th ext gold 5s
1920
5th ext gold 4s
.1928
NYLE&W 1st g fd 7S..102O
Erie 1st con g 4s prior
.1906
Registered
1996
1st consol gen lien g 4s
1996
Registered
1096
Penn coil tr g 4s
..1951
50-ycar conv 4s A...
1953
'
J-J
M-N
M-S
M-N
M-S
M-S
A-O
J-D
M-S
J-J
J-J
J-J
J-J
F-A
A-O
•
do
Series 13
1053 A-O
Buff N Y & Erie 1st 7S...1916 J-D
Chic & Erie 1st gold 5s
1982 m-N
Clev & Mahon Va. g 5s
1938 J-J
Long Dock consol
Coal & RR 1st
1935 A-O
6s..1922 M-N
g 6s
cur gu
Dock & Imp 1st ext 5s
1943 J-J
N Y & Green L gu g 5s
1946 M-N
NY Sus & W 1st ref 5s_. .1937 J-J
2d
geld 4 Ms
General
gold 5s_»
TerniAial
1st gold 5s_.
Mid of N J 1st ext 5s
.1937 F-A
1940 F-A
1943 M-N
;
1940 A-O
Willc & Ea 1st gu g 5s
Ev & ind 1st con gu g 6s
Evans & T H 1st
cons
1942 J-D
1926 J-J
6s___1021 J-J
1st genera l gold 5s
Mt Vernon 1st gold 6s
1942 A-O
1923 A-O
Sull Co Branch 1st g 5s
83*4
Ft W & Rio Gr 1st g 4s
1928 J-J
Great Northern— 4s
O B & Q coll trust
1921 J-J
Registered h,
1921 Q-J
refunding 4 Josser A 1961 JRegistered ...
1961
lst&
....
St Paul M & Man 4s_..__1933 J-J
1st consol gold 6s......1933 J-J
Registered
Sep '13
lOBs
931,
99i8
83
3
84
84
88*4
"801, "89"l,
90
J'ly '13
90l2
i
73*8 Sale
i
;3i8
90
7
85
15
Z
67
Dec
109
957,
99
8414
....
....
"85*1
IIII
IIII "7712
6U2 Apr
85
Mch
"so* III
80
Aug
79*4
78
Apr
78
70
97
Jan
110
84
....
Sep
III
100
I
l06l2 Mc
104
Fel
103*8 Fcl
1
110
Au
Sei
1
10U2 J'n
103 - Fel
I
99*4 Oci
IOU4 10214 101
Set
2
99*8
2
111
101*4
101
112
" III.
109
84
Sale
84
74i2 Sale
J at
10914
115"
....
Au
84
74i2
87
84
Ap
84
6678
76
....
~85h "90 "
87*4
46
66
82i4
146
65
771S
75
S
....
i
90
L001
80
81
3
107
....
73
3
100
94U
101
108
93
....
"87"
106
2
;
...
105
3
....
101
100
3
....
I
....
io's" iio"
987, 10U2
95
....
98
9612
9414
120
1933 J-J
102
Sale
:
72
947,,
95
97
8
95
Sale
'72'" "761,
3
98
9712
99*2
...
I
98
J'ne
3
....
93i2 J'ne
Sep
3
....
3
....
96
119
1
101
104*4 101
)
93
96i4
927, 96
96*4 1005$
96
96
931,
08I4
99*14 1041,
mmrnrn
MISCELLANEOUS
J
J J
.
J-J
J-J
J-J
J-J
F-A
F-A
1923 J-D
.1932 M-S
1951 J-D
1950
1950
J-D
J-D
J-D
J-D
J-D
M-S
& ref
conv s
f 5s
A-O
M-N
Tri-Oity Ry & Lt 1st
s
f 5s_1923 A-O
Underground of London—
1933 J-J
Income 6s
1948
Union Elev (Chic) 1st g 5s.1945 A-O
United Rys lnv 1st lien coll
trust 5s Pitts issue
....1926 M-N
*
w"v
*
*vvw
No price
401
85*4
721,
617,
79
601,
101
Jan *13
101
101
95
Mch'13
9ft
96
Nov'08
108i2 Feb *13
80*4
80*4 Sale 801,
,...105
_
78
96U
Sale
79
77U
97
961,
96
Sale
87l2
ITS
96
961,]
"I
84
71
•*
a
1031, 1031,
80
771, 825,
897
631, 79
96
8
991,
8
10
871,
921,
96
87
93i2
Oct '08
71
J'np'13
uy au
V
Due Jan.
Aug'12
May'99
J'ly
70
77
71
75i2 Mch'12
"78'III'.
77i2 Sep '13
10U8 Oct *99
Nov '00
100
"86
94" Feb"
95
....
105*2 IIII
86
13
117i2 May""10
94i2 J'ly '12
...
10214 Aug'13
104*8
114
82*4
Feb '11
90
Oct '09
9212
Aug"
....
12
"85"l2 "9512 *98" J'ly"'08
92
102" i05 "
May'13
10318 Aug'13
90i2
90i2
60
53is Sep '13
J-D
907g
93
91
May'13
A-O
70
71
70
Aug'13
63
Oct '00
55
•
A-O
M-N
A-O
100
104
1001s IO4I4
102
99
100l4
9314
J-J
J-J
1933 J-J
1945 M-S
Registered
.
1949 M-S
23
93
92*4
1025, Sep '13
102*8
99
98
97
96i2 97
92*4 Sale
IOOI4
93i2
....
106
....
111
10212
1111
105i2
llli8
A-O
El C & N 1st pref 6s
Gold guar 5s
Louisville & Nashville—
General gold 6s
...1930
Gold
5s
Unified gold 4s
Registered
Collateral trust gold 5s
E H & Nash 1st g 6s
L Cin & Lex gold 4 Ms
NO&M 1st gold 6s
NO & M 2d gold 6s
„
1940 J-J
.1940 J-J
1931 M-N
1919 J-D
1931 M-N
1930 J-J
1930 J-J
St Louis Div 1st gold 6s__1921 M-S
2d gold 3s
1980 WI-S
Atl Knox & Cin Div 4s.__1955 M-N
Atl Knox & Nor 1st g 5s
1946 J-D
Hender Bdge 1st s f g 6s..1931 M-S
Kentucky Cent gold 4s
1987 J-J
L & N& M & M 1st g 4 Ks 1945 M-S
L & N-South M joint 4s
1952 J-J
Aug'13
J'ne'12
Aug'13
Sep '13
Aug '13
May'13
Dec '11
Mch'13
84"" .I!
"93* J'ne"
ioo'I II!
Iofi2 Feb"
10
10038 Sep '13
101*8—
107
88
83
96I4 Nov '12
9914 Oct '08
84
Aug'13
90
90
Mch'13
96I4 Mch'12
Aug'13
87
85lS
12
88
88I2
93*4 100
104i2l>ec 'OS
91i2 Sep '13
" "95*I2
Jan '11
95
,
Registered
0
loo" III
110
Nov'06
103
Jan '13
104
995, 104
87
8GI2 9414
Apr '13
98i2
-
93
93
93
103
Aug'13
10U2 105
J'ne'13
IO6I2 10914 105
104*4 May'12
98*8
..
---
1135, 11/38 12014 Mch'13
1
A
»19
11418 Feb '13
1 no
1
108
107
62
66
88
88*
111
103ig
105
86I4 88
97*4 10312 1U314 Feb '13
83
Sale
8212
96
....
104
on
Due Feb.
83
ft?
107
Feb '05
100i8 Aug '13
_
10H2 Jan '13
11
110i4 Oct tlO
'12
1091,J'ly '12
110
.
83*8
69
9U4Mch,12
8412
71
Next Page.
Railway
United Rys St L 1st g 4s.
St Louis Transit gu 5s
United RRs San Ft
Va
'13
Jan '13
Apr '11
8814
8SI4
106" "
5s....1936 F-A
.1945 M-S
'13
'13
12
106
....
9934
g
J'ne *13
10512 Mch
109
J'ly
695, Sep
8813 Sep
109
102*8
lgu
1-
91
165**8 III!
Til952 Q-J
con
Aug'13
*9U2
N Fla & S 1st gu g 5s
1937 F-A
N & C Bdge gen gu g 4Mb 1945 J -J
Pens& Atl 1st gu g 6s
.1921 F-A
s
1934 J-J
731, Mch'13
69
Sep '13
661,
95
May'13
1924 A-O
f 4s_.1927 A-O
Ry & Pow 1st & ref 5s
1934 J-J
56
561* Sale
90
96
731,
73*4
69
18
72
611,
031,
67
9ft
Gas and Electric Light
Bklyn U Gas 1st
96
871,
May'13
83
90*2 Sale
1937 J-J
1941 J-J
5s__.1945 A-O
Atlanta G L Co. 1st g 5s
Friday; latest bid and asked this week,
85
65
'
4Ms...
**
95*8
81
123
J-D
M-S
J-J
BONDS—Continued
98
....1Q1
1942 F-A
Portland Gen Elec 1st 58.1935 J-J
St Jos Ry. L, H & P 1st g 5s 1937 M-N
St Paul City Cab cons g 5s_1937 J-J
Third Ave 1st ref 4s
1960 J-J
Adj inc 5s
al960 A-O
85*4 Feb *13
7512
76*8
576,
68iS
Sep '13
761, Nov 12
84
J-J
M-N
J-J
Street
83i4
755s Sale
5768 Sale
°7618
65
70*4
4^8.1940
Street Railway
J-J
J-J
9434 Jan '11
947, J'ly '12
F-A
.
L& Jeff Bdge Co gug 4s
New Orl Ry & Lt gen 4 V^s.1935
N Y Rys 1st R E & ref 4s 1942
30-year adj inc 5s
«1942
Portland Ry lst& ref 5s
1930
Portland Ry Lt & Pow 1st
94
92
S & N Ala
118 ' 124l2
1171, 11914
3
115
Reduced to gold 4^8.1933 J-J
Registered
1933 J-
"92" "96**1
97
IIII "70
94
99
Paducah & Mem div 4s
1946 F-A
Pensacola Div gold Gs____1920 WI-S
95
92
95*4 Sep '12
9U4 Sep '13
79
J'ly *13
91
88
J-J
F-A
Registered
.....1940
Lehigh Vail (Pa) cons g 4s_2003
Leh V Ter Ry 1st gu g 5s
1941
Registered
1941
Leh Val Coal Co lstgu g 5s.1933
Registered
1933
107*8 108
"93" "99"
3
108
106
84
A-O
111
Mch'13
105i8
9314 Sale
9314 •
933s
81
....
2
9812
09
1937 M-N
3
75
102
§0" J'ly"
UII4-W-- IIII4 Sep *13
2
96
100
94" Sep "'13
A-O
^
J
951j
Sep '11
J-D
122"" m"
2
99
no"
85
887S Feb '13
8812 Feb 13
9312 May'09
"9"e" ioi"i2
....
1011* 103
10412
""i
Mar'13
100
Registered
__1949 M-S
NYB&MB 1st con g 5s_1935 A-O
N Y&RB 1st g 5s
1927 M-S
Nor Sh B 1st cou g gu 5s_ol932 Q-J
Louisiana & Ark 1st g 5s
1927 M-S
10514111"
1
109""
iooT2
idois io"2"
1
2
12 412
105i2
A-O
38.1951 J
Guar ref gold 4s
..
100
North Ohio 1st gu g
Leh Vail N Y 1st gu g
120"
M-S
Apr 1950 J-J
.I960 J-J
gold 5s
85
100
....
A-O
1945 M-S
1914 A-O
1914 A-O
Long lsld 1st cons gold 5s_ftl931 Q-J
1st consol gold 4s
/*1931 Q-J
General gold 4s
1938 J-D
Ferry gold 4Ms.
_._.-._1922 M-S
Gold 4s
1932 J-D
Unified gold 4s.
1949 M-S
Debenture gold 5s
1934 J-D
82
2
96U
---•
92
Apr '13
92is Apr '13
10014 Dec '12
99
M-S
1st inl reduced to 4s
Leh & N Y 1st guar g 4s
109" 109"
8
Au
84
91
Jamestown Franklin & __1959
Clearfield 1st 4s
2d
....
100i2 Sep '08
....
J-J
J-J
J-J
idl" l"0"3"i8
1
83*4
83*8
9712
"
irnpt 5s
J'nV'13
85
97
....
83
....
'
1041,
Sale
*98"" "99a* «99~
F-A
1951
...1951
Registered
1951
Memph Divlstg4s_
1951
Registered
1951
St L Sou 1st gu g 4s
1931
Ind 111 & la 1st g 4s
1950
Int & Great Nor 1st g 6s
1919
Iowa Central 1st gold 5s;
1938
Refunding gold 4s
1951
'
High
92
105i2 May *13
io3is in:
A-O
Registered
Gold 3Hs
'
II11
85
J-J
J-J
1953
...1921
1951
Bellev & Car 1st Gs
Carb & Shaw 1st g 4s
Chic St L& N O g 5s
*
Low
J-J
163" 103"
....
I
74
747j Sale
72
725g Sale
10318 103*4 110
Ap;
107i2
io7*2
:
101
109i2 109
Ma
121
122
J'n
99
10712 106
Dei
95
10358
J
100
77
"87*4 "88
i03~«*
1
109
....
100
....
L
100
90
100
89
104l2
J-J
Gold 3Ms
*"
NO.
94
J'ne '11
925s Mch '11
97
97 "
Sep 12
11414 Sep '12
12018 J'ly '13
13614 May'06
119
J-J
J-D
1951
.1951
Registered
....1951
Spring Div 1st g 3Ms
1951
Registered
1951
Western lines 1st g 4s
1951
Registered
1951
Registered.
^
10414 104l4
)
■>
82
95*4
I
Ml
111
108
Kansas City Term 1st 4s
T akeErie& W 1st g 5s.
88
82
J'ne
96
98
Middle Div reg 5s
Omaha Div 1st g 3s
St Louis Div & term g
Ref &
84
82
10012
J-J
J-J
J-J
J-J
...
....
....
J'ne
96
82
....
88
1st ref 4s___
1955 M-N
Purchased lines 3 Ms...
1952 J-J
L N O & Tex gold 4s
...1953 M-N
Registered
1953 M-N
Cairo Bridge gold 4s
1950 J-D
Litchfield Div 1st g 3s
1951 J-J
Louisr Div& Term g 31^s 1953 J-J
-J
High
94
94i2
98
J-J
A-O
1951
1951
..1951
Extended 1st g 3>£s
1951
Registered
1951
1st gold 3s sterling....
1951
Registered
1951
ColJ trust gold 4s
1952
Registered ............1952
Registered
1st gold SJ^s
Registered
Kan City Sou 1st gold 3s
Registered
81
Sep
84
1930 A-O
Florida E Coast 1st 4 Hs__1959 J-D
ortStUDColstg4Hs-1941 J-J
97
....
"98 "
...
...1916 J-J
Cs
So Shore & At
95*4
86
86
97
f0"7"i; 110^8
31
9;
95
1937 A-O
;
94
Aug'
9738
95
A-O
M-N
Det & Mack 1st lien g 4s
1995 J-D
Gold 4s
1995 J-D
Det Riv Tun-Ter Tun 4Hs_1961 M-N
10212 10C18
....
99i2
1940 J-J
Guaranteed
Rio Gr West 1st g 4s
108" 111"^
<
107*4 Aug *13
97
83i2
....
....
102l8 Feb
149
97*i Sale
9012
Rio Gr June Istgu g 5s
Rio Gr So 1st gold 4s
....
Mch']
90
...»
.1928 J-D
1955 F-A
Improvement gold 5s
refunding 5s
1st &
L111*8 Dec ']
....
108iS
i08i, Sep "]
103l2 105ig 102i2 J'ly •]
94 ig
94
Aug']
113i2
2d
94l2
108
IOU4 103i8
104
10512
J'ly '!
94
J-J
I
Registered
10U8
1027g
Rens & Saratoga 1st 7s
1921 M-N
Denv & R Gr 1st con g 4s__1936 J-J
Consol gold 4Ms
1936 J-J
Du
947,
90U
102
Western—
Morris & Essex lst7s-1914 WI-N
10-yr
261,
89
10*
D:
'el
36i4
25
,
49*4
2f
,
....
J-D
J-D
.....
J-J
81
103
As* Low
Bid
1937
.1937
Pacific ext guar 4s £
1940
E Minn Nor Div 1st g 4s 1948
Minn Union 1st g 6s—.1922
Mont C 1st gu g 6s...—1937
Registered
1937
V 1st guar gold 5s...
1937
Registered
1937
Will & S F 1st gold 5s
.1938
Julf& S list ref & tg5s..6l952
Registered
61952
□fock Vai 1st cons g4Hs._1999
Ll
Registered
1999
CoI&H V 1st ext g 4s
1948
Col& Tol 1st ext 4s
...1955
or
Last Sate
Sept. 26.
\isUTui7iueu.)—
"
"~2 "87* "92"%
87
.
90
gold 4s
jvi
it r jyi ec
Registered
<•*
9712--..
cons 4 ^s.1931
W 1st g 5s..
1935
High
Mont ext 1st gold 4s
9U2
....
Low
100*4 0<
....
J-J
J-J *---- 100
1935 J-J
Day & Mich 1st
1st guar
90
liange
Friday
§!
Week Ending Sept. 26.
Jan. 1
Week'c
Prict
EXCHANGE
STOCK
Y.
N.
Since
No.
Ask Low
Bid
J-J
J-J
..1959 J-J
1941 M-N
OlnHA D2dgold4Hs.-.._193?
1st & refunding 4s
1959
1st
Last Sale
Sept. 26.
Nfl,
Bonds Sold
Range or
.
BONDS
Range
Week's
Price
Friday
871
Record—Continued—Page 2
New York Bond
1913.]
con g
5s
.1947 J-D
1945 M-N
Buffalo Gas 1st g 5s
.....1947 A-O
Columbus Gas 1st g 5s....1932 J-J
Detroit City Gas g 5s.....1923 J-J
Det Gas Co. con 1st g 5s...1918 F-A
Det Edison 1st coll tr 6s...l933 J-J
EqGLN Y 1st con g 5s
.1982
Gas 8c Elec Berg Co c g 6s..1949
Gr Rap G L Co 1st g 5s....1915
Hudson Oo Gas 1st g 6s
.1949
Kan City (Mo) Gas fst g 5s 1922
VWO,
vw
& Due April,
ft Due July*
1001,....
103*4
103*4 104
n
ft Due Aug.
V
104'
J'ne'13
98*4
9&t
95*, Sep 08
101^
101*8
ioi" in
107
1061, Oct
....
100
Feb .18
101
99
1011, 1061*
54
54
-
....
98*4 Sal©
M-B
J-D
F-A
M-N
A-O
54
55
•90
100
93*4 100
99
1021,.
Oct *09
12
1021,
1021, Sale 1021,
94
94
Aug'13
mmmrn.
-V- '
.
v**
....
0 Due Oct.
*
Option 'ale.
100
100
101" idfii
94
M;
873
New York Bond
BONDS
stock exchange
Week Ending Sept. 26.
Price
•5 a.
Weeks
Friday
Sept. 26
y;
n,
Last Sale
Bid
Range
Ask Low
BONDS
Range
No
High
Low
Pacific Ext 1st gold 6s
.1921
1st consol go d 5s_._____.1934
! 1st and refund gold 4s....1949
Des M & Ft D 1st gu 4s—1935
M StPASSM con g4sintgu 1938
.
79
iio"
a-o
1st Chic Term 1 s f 4s.....1941
MSS& A 1st g 4s int gu_192©
©
1
'
Mississippi Central
1st 5s
1949
*
1
,
1st Arefund 4s
2004
Gen sinking fund 4 Hs——1936
8t Louis Div 1st ref g 4a_.2001
Dai A Wa 1st gu g 5s
...194©
Kan C A Pac 1st g 4s.....1990
Mo KA E 1st gu g 5s_.._1942
M K A Ok 1st guar 5s....1042
M K & T Of T 1st gu
J-J
83
A-O
Montgom Div IstgSS——1947
1927
5:1
98
97
1951 A-O
;
Registered
Debenture gold 4sJ..
Registered
106*
95* 100
91
" "99"*
67ls
68
Sep '13
64
* *70*
80*
82
91
96* May'll
80*
81
Sep '13
90
92
76
76
76
Registered
77
...
110
76
104
104
~7~9~ "82*
81*
83*
112*
li3 "
1936 J-J
Registered
Beech Cr Ext 1st
Cart & Ad 1st gu
""93"*
90
100
100
78* *82*
81
"77* "83"*
Jan '13
96
112* Sep *13,
112* Jan '13
82
96
112* 117*
112*112*
82
80
107* J'ne *13
857,
107* 109
95
88*
....
89
Ill
108
89* "89*"
77
74
~59"*~III
51
.Sale
J'ly'13
105
108*
111
Jan '13
111
105* 105*
" *88*
62
Feb *13
76*
967,
96* Feb '13
55
Aug'13
51
51
78
967,
75
' 76*
45
,
87
100* 102
"79"* Ma"y"i3
83
85
83
84
90
91
85
82
8
Aug 18
90
87
82
'21
91
*87"*
79*
80*
86*
87*
91*
76*
"83"
93
"81'
Sale
80
81
76
80
80
90
....
May '12
81
81*
80
V
80*
76*
76*
77* May'13
98
32
17
76
80*
5
75
80
76
Apr'13
May'll
99
.
98
77*
g
J-D
75
101
200© M-N
Registered
N Y & Harlem
3Hs
g
83
1981
....
Oct '12
88
105
90*
89*
98*
98*
Oct *02
10034 107* 107" Feb '13
92
96
Aug'13
Pine Creek reg guar 6s
1932 J-D
R W A O con lstext5s__M922 A-O
Oswe & It 2d gu g 5s
_e!915 F-A
103* 105
Rut-Canad lstgu g 4s
StLawrA Adir lstg 5s
2d
gold 6s
25-yr gold 4s
Registered
-
McKeesA B V lstg6s
77
80
92
102
1922 j-j
1997 J-D
1997 J-D
1918 J-J
1931 M-S
1931
3
M
...
88
87*
87*
92* Sale
913, Sale
89*
....
1028 M-S
100
106
105
101
90
ctfsO..
"1944
11931
..
g 4s
97*
87
88*
....
Sale
Sale
...1922
M-S
g 4s. 1939 J-J
Lac Gas L of St L 1st g 5s.el919
Ref and ext 1st g 5s
.1934
Milwaukee Gas L 1st 4s
1927 M-N]
Newark Con Gas « 5s
1948. J-d
tl
NYGELH&Pg
.
Marquette—Ref
931,
97*
83*
991*
97*
89
93
98*
90
95
86*
89
101*
101* 104*
114
107
112
Aug *13
124* 122
86*
88*.
100* Sale 100*
99*100
90
90* 897,
60
102
....
102
102
106
....
109
101
7
M-N
*
88*
102*
102
90
1
101* 102
10 100* 103*
21
106* Apr '13
101
100
99
3
>
103*
83*
83
83* Sale
114
*88* "88"*
....
103* Sale 402%
101
2
82
86*
106* 108*
99* 101*
921, J'ly *06
*
5fl Interaat Series...
Pat A Paasaic G A E 5s
.
♦
Ne price
.1930 F-A
.1949 M-S
Friday: latest bid and asked,
1921
f 4s '37 J-J
1940 A-O
1943 J-J
1997 J-J
1951 A-O
..1951 J-J
1947 J-J
s
consoi
1997 J-J
j-j
.
.
on
....
May'10
j'ne'121
Nov*12
95*
...
106
"
101
*
Aug' 13
j
110'11
"94"* "9"6*'
92* j'ne'131
90*
93*
93*
104*
90
Apr '13
95* Jan '13
97* Jan 13
■
....
106
j'ne'13;
106
"85" "95"
feb '13
93* Jan 11
54
Jan
IIII "45""
45
Sep '13
98
oct
90
100*104
13
'12
100* Apr '13
91
96
96
Feb '13
91
96
92
Sep '13
65
Aug'13
IIII "69"
104
.
108
Apr '13
113* NoV'll
.
95* Sale
92
947,
96
92
96
....
94
IIII"81*
106*
99
....
108
93* Sale
95
....
99
a
.
9**
94*
'
93*
6
>
Meh'13j
91
941,
96
94*
.1102* J'ly '12
Due Jan.
5 Due Feb.
*
Due May.
Peo Gas Sc C 1st
54*
94
70* Sale
70*
71
80* Mch'll
94
Pace.
1843
1947
1947
Ch G-L A Cke lstgu g 5s_1937
Con G Co of Ch 1st gu g 5sl936
Ind Nat Gas A Gil 30-yr 5s *36
Mu Fuel Gas 1st gu g 5s..l947
Philadelphia Co conv 5s...1919
con g
6s
Refunding gold 5s_...
Registered
Conv deben g 5s..
Stan Gas &
El
conv s
A-O
M-S
M-S
114
J-J
J-D
101
M-N
M-N
F-A
...1922 M-N
f 6s
1926 J-D
Syracuse Lighting lstg 5s..1951
Syracuse LAP 5s—.....1954
Trenton G & E 1st g 5j
1949
Union Elec L A P 1st g 5s.. 1932
J-D
J• J
M-S
g Due
June.
A Due July.
Aug'13
Sale
101
101*
99
Sale
99
«...
•
1960 J-J
J 957 J-J
\960 J-D
0 Due Oct.
102
102*
J'uc 13
92
93
Mch 12
99
•••
mm
99
102*
....
95
95
Aug '13
Sep '13
J'ly '13
99
mm
m
mmmm
94
93
95*
04
Sale
....
100
--•a
mmmm
101
M-S
Ref A ext 5s............1983 M-N
Utica El L A P 1st g 5s
Utica Gas A E ref 6s..
Westchester Lw g 5s
112
101
99*
101
04
Doc
11
85* J'ne 12
100
Feb
0L
mmmm
97
J'ne'13
mmmmrn
mmmm
92
J'ne'13
101
mm m"
rnmrnrn
mmmm
101* 104
f Due Nov.
10
99
72* j'ly '13
54*
56
54*
' 54*
93
.1947 A-O
1951 J-J
........1951 J-J
84
Aug'13
98*
64*
54
951,1
j'ly'13
946,
AuV'13
76
54
*
80
Sale
73*
deposit
Next
may'08
90* j'ly '12
101* Fen '13
95
Southw Div 1st g 5s
Refunding g4s....
Registered
90
86* j'ly '13
88
109
100*
98*
102*
»3*.... 102*
95
95*
100* 101* 101
100* 101* 9934
General gold 5s
...1931 J-J
3tL& S F RR cons g4s_.1996 J-J
Gen 15-20-yr 5s
,
1927 M-N
Tr Co certfs of
90* Oct '12
85
86*
85*
J-D
1920 A-O
1st consol geld 5s
.1939 M-N
Pt Huron Div 1st g 5s__1939 A-O
Sag Tus & H 1st gu g 4s_.1931 F-A
97*
110
1895 J-J
Corp unifying3c ref 5a
.1037 M-N
PacPowALt let & ref 20-yr V
4s
1921 Q-F
61921 M-N
1055 J-J
1955 J-J
O t Louis & San Francisco—
General gold 6s
1931
100
money g 4s
F-A
1957 M-N
1932 A-O
Jan '05
j'ly -13
109* j'ly '09
91* Feb '12
Gas and Electric Light
1st cons
g 5a
F-A
1953 J-D
97*]
j'ly '13
j'ly '13
Aug'13
102
....
"85 ' HI".
.1945 M-N
g._IIl949
Registered
Jersey Cent coil g 4s
Atian City gu 4s g__
,Jt Jo& Gr Isl 1stg4s
93*
100* j'ly *11
1948 J-d
1949 f-A
Purchase
_Ed Mill
5s
ioo "IIII
100
Sep '13
Sep '13
92* Fen '13
110
1042 M-N
gold 5s
D eading Co gen g 4s
93
....
1942 A-O
R
94*
93
Series E 3Hs guar
Series F gu 4s g
Series G 4s guar
1st
Aug *13
95
89
Series Li guar
Series C guar
Series D 4s guar....
MISCELLANEOUS BONDS—Continued
Convertible deb 6s
Ed El III Bkn 1st con
86*
4HsIl941
A-O
95
95
A-O
„
Series d3Hs
1950 F-A
Erie& Pitts gu g
3HsBl~1940 J-J
Series C
1940 J-J
Gr R& I ex 1st gu
J-J
StLgti4Hs aIII1940
84*
83*
97*
84*
82*
83*....
I"l942 M-N
M-N
4Hs_.1935" "T
Flint & PM g 6s
84
Jan '03
101* Sep '13
102* May'13
...
....
83*
97* Sale
83* 84*
J-D
92*
82*
5
101* May'12
84
1942
Guar 3 Hs trust
ctfsD..
Guar 15-25-year
93*
j 'ne '08
96
Sep t2f
102
101*
.1921
Philippine Ry 1st 30-yr
Pi .ts Sh & L E 1st g 5s
82* Aug'13
85* Aug'13
97*
97*
97* Jan '13
86*
98
847,
96
99* j'ly '13
Registered
1921
Guar 3Hs coll trust
reglll937
Guar 3H« coll trust ser
Bll941 F-A
Trust Co ctfe gu g 3
H3...191G m-N
Guar 3 Hs trust
J-D
Co—
Guar 1st g 4Hs
89*
j'ne'06
66'
100*1 "l2
100
...
.100
..
100
Pennsylvania
Refunding guar 4s
Ch& WM 5s
Jan v12
100*
87*
F-a
....
Pere
Apr'12
98* Nov'11
94*
Gas and Electric Light
Kings Co Ei L5t Eg 5s
.1937 A-O
Purchase money Gs
1997 A-O
ioo" iod*
96
Mch'12
9934 Aug'13
97*
96* j'ne'13
97
J-d
m-s
<21
.
88
98
A-O
997,
90
88*
Apr '12
Jan '09
Mch *12
110
105
97* Sale
m-n
91* Apr '11
1107, Apr'13
90* Sep '13
Sep '13
100* Aug *13
90
85*
Oct *12
112*.... 130*
123*
100*
In"
101*
119
100*
1952 M-N
j-J
j-J
j-J
93
110
A-O
9a
m-n
j'ne'12
100
93
84*
90*
111* Mc'h'ii
J
M-N
997, Nov'11
87
Sep *13
84* May'13
92
92*
91*
91*
103* 110*
J-J
A-O
90*
100
1919 m-s
1943 M-n
j-d
C St L & P 1st con g 5s
Peo& Pek Un lstg 6s
2d gold 4Hs__
-J..
1951 M-S
20-year debenture 4s
1929
NY Chic A StL lstg4s
1937
Registered
1937
Debenture 4s___
.1931
West Shore 1st 4s guar
2361
Registered
2361
N Y Cent Lines eq tr 4Hs 1922
in" IIII
j'ne'13
94
88
Jan '12
101
•85
J-j
J-j
84
119* Mch'12
90
76
j ne'09
Aug'13
Apr *3
100* Sep '13
109* Sep '13
107
m-s
" "90" "
Sep '12
.1940
J L A S 1st gold 3
1st gold 3 Hs
80
66
115* Aug '11
1923 m-N
Phila Bait A W
lstg4s
1943
Sod Bay & Sou 1st
g 5s.
1924
Sunbury & Lewis 1st g 4s_1936
U N J RR & Can
gen4a^_1944
67
90
109"* iia"
Jlj
Convertible gold 3H3—01915
Registered
ol9l5
Consol gold Am
.1948
AllegVal gen guar g 4a___1942
DRBR4B ge 1st gu 4a g '36
106*
97* 98*
9©
67
92
...1968 j-d
ConsoJ gold 5s
Consol gold 4s
102
Apr '13
Sep '13
"io
65
lstg 6s__1933
Oregon-Wash 1st & ref 4s.. 1961 j-j
pacific Coast Co 1st g 5s—1946 j-d
A
ennsylvania RR—
j'ne-10
90
108
...1840
_
Registered
104
82
..1931 M-N
.1931 M-N
5s
100
98
100*
......
Michigan Centra.
Registered
131* Jan "'09
102
j'ly'13
97*
97*
105"" 108"
Iia A& G It lstgu c 5S..1938 J-J
Mahon C'i ItR 1st 5s
1034 J-J
Pitts A L Erie 2d g 5s
al928 A-O
Pitts McK & Y lstgu 6s—1932 J-J
2d guaranteed Gs__.._._1934 J-J
4s
112'* II Z1
1996 A-O
;
92
"53
98*
...
Apr '13
91* j'ly'13
68
68*
*68" "69"
1917 A-O
1st real est g 4s
14
Jan "11
89* Sep *13
....
100*
1948
13
...
$-a
Nor Pac Term Co
feb '12
104* Sep '13
106* Sale 105*
1067,
88
86*
Sep '13
100*
105* Jan *13
87*
84* j'ly '13
943, Sale 94*
947,
Registered certificates..1923
Paul A D .lutb 1st 5S..1931
1st consol gold 4s
Wash Cent 1st gold 4s
88
j'ne *12
Mch
104
105* 107
-d
5s
Mch"la
Feb '13
Sep '13
98
!-F
poc &
1949 J-J
1996 J-J
Utica & Blk Riv gu g 4s
Lake Shore gold 3Hs
Registered
Debenture gold 4s
92
96
~89 " "90*
im-s
St
99*
83*
87*
92*
897,
100
A-O
Pitts Y & Ash 1st cons 53.1927 M-N
Tol W V&
Ogu4Hs A...1931 J-J
Series B 4Hs_.
1933 J-J
Series C 4s
" 1942 M-S
105* 107
....
96
a2 04 7
g
87* Dec '12
...2000 M-N
N Y A Northern lstg 5s__1927 A-O
N Y & Pu 1st cons gug 4s_1993 A-O
Nor& Mont lstgug5s
1916 A-O
R W & O T It lstgu g 5s__1918 M-N
Rutland 1st con g 4Hs
1941 J-J
Og & L Cham 1st gu 4s g 1948 J-J
a-o
A-O
....
"98* Jan "'Is
Registered
-
f-A
CI & P gen gu g 4
Hs ser a 1942 J-J
Series B___
1942 A-O
Int reduced to
3HsIIIl942 A-O
Series C 3Hs
1948 M-N
3Hs_&1951 A-O
1942 J-D
1991 M-S
1986 F-A
..1986 F-A
93
47
Aug *09
118
116* 117
Apr 13
123
116*121
Jan
13
116* 120
116* j'ne'13
93
937, 93*
93*
g4sl_1996
St
g
ido'IIII
88
100
1938 m-s
Pocah C & C joint
4s... 1941 J-d
a
? V
guar gold 5s.. 1922 j-J
Scio
AN E 1st gu
g 4s. .1939 m-n
Northern Pacific prior)
!-j
g 4s 1997
Registered
1997
!-j
General lien gold 3s_.__Ia2047
!-F
Regis tered
Pi-ui-Dulutb Div
89
"III
.1932 j-d
ci11 Leb& Nor
gu 4s g
CI & Mar 1st gu
98
..1936 J-J
g 4s
Gouv A Oswe 1st gu g 5s_.
Moh A Mai 1st gu g 4s
N J June R guar 1st 4s
87*
J-j
1932
77*
....
1941 m-N
m-N
10-25-year conv 4s
10-20-year conv 4s
Convertible 4Hs
2d
807, Oct '12
83
Sep *13
41
1955 j-d
5sIIl96l f-A
4s__Hl944
gen g
No.
j'ne'13
107
Dul Short L 1st
gu 5s
1916 m-s
St P A N P gen
gold 6s.:..1923 f-A
101* 103
Oct '12
81
96
107* 111
81*
102*
"88
Mch'05
90*4 Aug'13
101* J'ne'13
102
102*
97*
102
77*
91
1936 J-J
2d guar gold 5s
piv'i 1st I &
May'12
Aug'13
89
1997 J-J
1934 M-N
1934 M-N
Lake Shore coil g 3 Hs
1993 F-A
Registered
1993 F-A
Mich Cent coil gold 3 Hs-1998 F-A
Registered
1998 F-A
Beech Creek 1st gu g 4s
1936 J-J
103
High
86
^3
lstg 4s
pl992 m-s
Registered $5,000 oniy..pl992 m-s
6s...1931
Improvement & ext g 6s..1934
New River 1st gold
6s....1932
n A W Ry 1st
cons g 48
1996
Registered
1996
85
99* Now '12
99* j'ne'12
IIII "88
90* Mch'13
103
;.„J 110. Feb'13
83
Sale
81*
83
N Y OA W ref
General 4s_.
Norfolk Sou 1st A refA
Norf A Sou 1st gold 5s
Norf A West gen gold
Lewi Sale
81
87. Apr 13
73
70* 73
Aug'13
1121, 113* 112*
113*
107* Sale 106*
107*
NYW'chesAB lstser 14Hs *46 J-j
N H & Derby cons
cy 5s..1918 m-N
New England cons 5s
.1945 J-j
Consol 4s
..1945 j-j
Providence Secur deb 4s..1957 m-N
103
1027,104* 105* Jan '13
113
102*
J'ly '04
65
65
65
Sale
1st consol 4s.
101*
96
96
McM'M W A AI 1st 6s
1917 J-J
T & p Branch 1st 6s
1917 J-J
Nat Rys of Mex pr lien 4 Hs 1957 J-J
N O MobA Chic 1st ref 5s_1960 J-J
NO A N il prior lien gGs__pl915 A-O
New Opieanr Term 1st 4s__19S3 J-J
N Y Central & H R g3Hs.i997 J-J
104*
101* 101*
105* 105* 105* Sep *13
Guaranteed general 4s
1977 A-O
Nat of Mea prior lien 4Hs_1926 J-J
877,.
108
97
1931 J-J
& StL 1st581928 A-O
Jasper Branch 1st g 6sl923 J-J
VjashyilleCb
1Y
102
82
101
65
J-J
A-O
1938 St-
102
78*
97
4s.... 1929 J-J
-.1929 J-J
g 4s
..1933 M-N
Verdi V I & W 1st g 5s___l926 m -S
6
Mob A Ohio new gold 6s
1927 J-D
St Louis Div 5s—i
/St L & Cairo guar g 4s
..
A-O
-J
74
1956 j-J
1948 J-J
B&NY Air Line 1st 4S..1955 F-a
Cent New Eng 1st gu 4s..1961 j-j
Housatonic R cons g 5s...1937 m-n
95*
81*
99*
77*
87
97*
67*
79*
77*
102
F-A
..A1927
89*
96
gold
General gold 4s
76
91
1956 m-N
20-yr conv deb 6s (wh iss)
Harlem R-PtChes lst4s_1954 (m-N
627,
"91" "97"
Apr '13
•89
82
May'13
102* 106 " 103* Sep '13
99* 101* 98
Sep *13
96* 100* 987, Sep '13
May'13
97* 99* 96
99*
101* Mch '13|
1031s 104
103*
103*
967, 98
067,
96
F-A
gu g
gold 6s
84*
101
Registered
Riv &; G Diy 1st
1st extension
71
100
54
76*
76*
99* Sep *13
71
71*
83* Sep *13
78* Apr *13
77
99*
....
M-N
88
91
76*
A-0
90
79* Dec '12
01*
91*
97* J'ne '12
96* May '12
88* Mch'll
91
697,
4s...1919 F-A
Cent Br U P 1st g 4s
1948 J-D
Leroy A O V A L 1st g 5a_1926 J-J
Unified & ref
....
95
Registered
_..al917 M-8
1st collateral gold 5s
1920 F-A
.Registered
......1920 F-A
40-year gold loan 4s
1945 M-S
3d 7s extended at 4%....1938 M-N
1st A ref cony 5s
.....1959 M-S
Pac R of Mo 1st ext g4s._ 1938
2d extended gold 5s
1998
StL Ir M&S gen con g 5s. 1931
Gen con stamp gu g 5s__1931
....
mmmm
90
"
Ry 1st
-
-
M-S
Non-conv 4s
Range or
Ask Low
>
....
Conv debentures Hs-«
Con v debenture 6s
54* Sep *13
96*
M-N
g 58.1942 M-S
Sheir Sh Ac So 1st gu g 5s
1942 J-D
Texas & Okla 1st gu g 5s.. 1943 M-S
Missouri Pac 1st cons g 6s
1920 M-N
Trust gold 5s stamped
al917 M-S
Cent Br
56i2
79*
91*
Mo Kan A Tex 1st gold 4S-.1990
2d gold 4s
..01990 F-A
| 1st ext gold 5s
-...1944 M-N
'
90
----
i.
1
03
66
m-s
J-J
j.j
m-n
J j
J-j
J-D
Bid
xovii.
Week's
Friday
Sept. 26
N Y New Haven A Hartf—
Non-conv deben 4s
....1955 J-j
Nov* 10
90
M-n
Price
EXCHANGE
High
124* Oct '12
110* Aug'11
100»« 108
'
STOCK
Week Ending Sept. 26.
Jan. 1
77" Mc'hTO
Interna11st con g 4s 1977 lvl-S
Stamped guaranteed..1977 M-S
Minn A StL 1st gold 7s
1927 j-D
ex
Y.
N.
Since
or
■Ji/fanila BR—Sou lines 4S.10S6, m-N
1*1
[Vol.
Record—Continued—Page 3
a
100*
103
*
Sep '191
Option
15
1
1
22
Price
Week'9
Ran§t or
Since
Sept. 26
Last Sal*
Jan. 1
EXCHANGE
STOCK
Y.
N.
Week*
llano* of
Lam Sal*
26.
Week Ending Sept.
Ash tow
Bid
St L 8t San Fran (Con)
K O Ft S & M con * 6s___1928
4S.1936
.1936
K C & M R & B 1st gu 5S.1929
Ozark & Ch O 1st gu 5s g_10l2
K O Ft S & M By ref g
Registered
g
J -D
"81 ~ ~82U
J-J
J -J
A-O
A-O
Registered
1950 A-O
73% Sale"
Adjustment 5s
ol949 F-A
75*2 76%
Refunding 4s
1959 A-O
82
Atl-Birm 30-yr 1st g 4s._cl933 M-S
80
Car Cent 1st con g 4s
1949 J-J
1003a
Fla Cent & Pen 1st g 5s__1918 J -J
101%
1st land gr ext g 5s.,
1930 J-J
101%
Oonsol gold 5s
1943 J-J
10318
Ga & Ala Ry 1st con 5s__ol945 J-J
101%
Ga Car& No lstgu g 5s
1929 J-J
g
...
_
„
P 1st 5s.1931
Gila VG&N 1st gu g 5s_l924
G H & S A M &
W T 1st g 5S..1933
Hous E &
Waco& N W div lstg 6s 1930
142
Exten&
96*2
RR 1st consol 4s
12
90
907g Sep '13
88
Aug* 13
100
Mch 10
110
119*4
101U 104i2 106
110
10714 109
1053s 107% 105U
Jan '13
106"
10638
J'ly '13
110
110
Am
Feb '07
Am
102"
101*8
101*2 J'ne'13
101*2 101*2
91*2 Sep 12
87*4 Sep '13
mi "87%
Sale
101*8 May'll
91
91*8
10378
1037a Sale 103*4
Aug'13
75*8
75*8
86%
~75% Sale'
82
83
36
10434
"37
72*2
♦91%
78*2
10534
88*2
86%
87*4
J'ne'13
103
106
106
109
68%
100% 104
...
79
103*2 Jan '13
73
Sep 12
...
...
A-O
.
- --
100
112
...
104
102
....
101
104
J'ly'13
....
J'ne'13
....
100
Aug'13
..
loo"" 107"%
102
106*4
101
.
101
100
91%
94
99
1st & ref 4s
:
Ry & Nav una g
Ore Short Line 1st g
Ore
.
1st consol
; 5s_.
..p2008 M-S
4s
1946 J-D
6s
1922
1946
j:a
.1929 J-D
Guar refund 4s_
Utah & Nor gold
1st extended 4s
4s.l947
.1947 J-J
1027 J-J
5s....1926 J^J
.1933 J-J
TTandalia cons g 4s Ser A.1955 F
▼
Consol 4s Series B
1957 M-N
Vera Cruz & P 1st gu 4>£s_1934 J-J
Virginian 1st 5s Series A ..1962 M-N
97*8
93
96*2
93U Sale
92*2
91
92*4
97*2
9434 Aug' 13
92*s
93*2
9212
97*8
92l2
80
106*4 106*2
106
91*8 Sale 91
108
100*2
85
99
13
91%
93
93
....
98*8
90
94
98*s
Sale
96
1940 A-O
1952 M-N
1951 F-A
100
98%
127
98*2
86%
19
88%
97
95*2
^
93*4
108%112l8
103*2 109
31
86%
93%
93
94
93
19
93
96
1929 J-_
..1936 M-S
20-yr convertible 4^s...1933M-S
Chicago Telephone 1st 5s__1923 JCommercial Cable 1st g 4s_2397 Q-_
Registered
2397 Q-J
Cumb'd T & T lst& gen 5S.1937 J-J
Keystone Telephone 1st 5s.1935 J-J
Metropol Tel&Tel 1st s f 5s. 1918 M-N
Mich State Telep 1st 5s
1924 F-A
N Y & N J Telephone 5b g_1920 M-N
N YTelep 1st & gen s f 4 H s 1939M-N
Pac Tel & Tel 1st 5s..
1937 J-r J
South Bell Tel & T 1st s f 5s 1941 J-J
West Union col tr cur 5s
1938 J-J
99*8
91
Telegraph & Telephone
Convertible 4s
104*2
95
84
s
AmlelepAc Tel coll tr 4s
Fd and real est g 4H»——1950
Mut Un Tel gu ext 5s
1941
Northwest Tel gu
98*4
11
92
93
,
HO
83%
M-N
M-N
4^s g.1934 J-J
97*4
92%
_
-
95
98% 103*2
70
80
101
105
91
93%
116
J'ly '131.
Aug'13
120%
117*2 117%
_
94
.
95% J'ne'12
83
83
103%
103*4
•
99%
99%
_
96% Sep '13
98
63
101%
95
104*8
IOH4
99% Jan '13
.105
62
46*4
94
91% 92% Aug'13
101
101*4 101
Sale
78*2
80
97%
.
81* "90%
4
103
7
103*2
94% 94%
82% Sale
94*2
94*4
9
9234
82
82%
21
7934
8634
94% Sale
94%
95*2
69
91%
97
95% J'ly '13
95*2
97%
96%
96% Feb
9534
96*4
91%
00%
90
93%
95
94% Feb '13
94%
96
"93"
90
"68 ~
'13,
90*4
85%
8H4
98
84%
75*4
33
97% 100
81%
84
93
74
96
93% Sep '13
118
118%
119
93
85
9934
115
122%
94%
96% Sep '13
95*2
88*a
88*2
94
17
96%
98% Sep '13
98
100
85
96*2
98*2 100
99%
95
13
88% Feb *13
85
96%
J'ly
96
94
96% Sep '13
96
82
80%
116% 122%
96*2i
96
96% Sale
88%
96%
71
97%
119
97%
97*4 Sale
91%
59%
91%
68
73%
73*2
96*2
95%
95*2
119
120% 119*4 Sep '13
72%
105
84
Aug'13
83%
70
68
89%
98% 101%
100
103
101
Sale
92%
82
95*4
13 101*2 105%
46
85%
99i4
85%
98%
85%
98% Sale
68
90
99%.
99
^
70
79%
92%
92% Aug'13
Sale
85*4
103
54*2
34
"77% 79% 77"Sep"'13
105%
105*4 Sale 105*4
99
96%
49
58%
85
57*2
Sale
96% Sale
.
Apr *13
Mch'13
Oct '12
98%
99%
96
95
"47% "60"
May'll
98%
1951 F-A
1931 M-N
f 5S.1931 J-J
10-year coll tr notes 5s__1917 A-
~88 " *89
Sep '13
106*2
91*8
M-N
5s Series A
Westinghouse E & M
92*4
92*4
109
109*4
63%
99
103
Va-Car Chem 1st 15ryr 5s_1923 J-D
West Electric 1st 5s Dec 1922 J-J
....
97*8
62
50
83
US Steel
Corp—/coup
dl963 M-N
S f 10-60-yr 5s\reg .__dl963M-N
103*2
85
62
62
53
95
F-A
F-A
J-J
Latrobe Plant 1st s f 5s..1921 J-J
Inter-ocean P 1st s f 5s__193l A-O
Repub I & S 1st & col tr 5s_1934 A-O
10-30-year 5s 3 f
1940 A-O
Standard Milling 1st 5s
1930 M-N
Ihe Texas Co conv deb 6s.l931 J-J
Union Bag & Paper 1st 5S.1930 J-J
Stamped
1930 J-J
U S Realty & I conv deb g 5s_*24 J 7 J
U S Red & Refg lstg 6s... 1931 J-J
U S Rubber 10-yr coll tr 6s_191& J-D
104% 104U
88*2 8934
....
;
90*2
117% J'ne'13
Railway Steel Spring—
103*2 104
'
Registered
20-year conv 4s
91%
88
Sale
National Tube 1st 5s
1952 M-N
N Y Air Brake 1st conv 63.1928 M-N
....
1st RR & land grant g
84
Sep *13
Sale
Mexican Petrol Ltd env 6s A.'21 A-O
Nat Enam & Stpg 1st 5s__1929 J-D
Nat Starch 20-yr deb 5s
1930 J-J
105
102i2 Apr *11
Union Pacific—
con
5S
108*4
102*2 108%
90*4 95%
92
92
99% 101
..
Sep '13
Spokane Internat 1st g 5s_.1955 J-J
"97*4 101" 104 Feb '13
A-O
rper A of St L 1st g 4MS--1939
104*4
104U Sale 10414
X
1st con gold 5s
1894-1944 F-A
85
89»4 May'13
Gen refund s f g 4s
1953 J-J
101
106*8 Sep 12
105
A-O
St L M Bge Ter gu g 5s..1930
103 *103*4 10334 Sep '13
Tex & Pac 1st gold 5s
2000 J-D
61
Nov 12
20
39
2d gold inc 5s
?2000 Mch
92
99l2 Apr '11
La Div B L lstg 5s
1931 J
10012 Nov 04
W Min W & N W 1st gu 5s_1930 F-A
103"" IIII 102 Aug *13
Tol & O C 1st g 5s
1935 J-J
101
Aug'13
102
Western Div 1st g 5s.
.1935 A-O
102*2 103*2 Sep '13
General gold 5s
1935 J-D
85
85
88
Sep '13
A-O
Kan & M 1st gu g 4s
1090
96
96
9678 96
2d 20-year 5s
1927 J-J
84
Aug '13
80
90
J-J
Tol P & W 1st gold 4s
1917
Dec *12
84
85
Tol St L« W pr lien g 3^8-1925 J-J
55
55*4
65
Sale
50-year gold 4s.......
1950 A-O
Dec 12
68
65
Coll tr 4s g Ser A
..1917 F-A
89
Apr 13
84
Tor Ham & Buff 1st g 4s
hl946 J-D
100
101
Sep '13
TTlster & Del 1st con g 5s_1928 J-D
85*2 J'ne'12
84
1st refund g 4s
.1952 A-O
J
80%
"9l"
86%
88
87*2
91
1950 M-S
5-year convertible 5s
1915 M-S
Liggett & Myers Tobac 7s_1944 A-O
5s
....1951 F
Lorillard Co (P) 7s
1944 A
1st
10434 10434
92
100
79
102
91
93
85
J-J
101%
70
87% Aug'131
87
87*s
"
_
Mch'13
102*2 10412 102*2 J'ne'13
91U
100
99
11
115*2
6s..1918 F-A
1935 J-J
Int St Pump 1st s f 5s
1929 M-S
Lackaw Steel 1st g 5s
1923 A-O
Oct '06
103% NOV'12
104*4'Jan *13
100*4 105
F-A
9*8%
98*2 J'ly '13
102%
100
98*2 Feb
99%
5s.1925]A-0
111 Steel deb 4Hs
Indiana Steel 1st 5s
Int Paper Co 1st con g
Consol conv s fg 5s
HO
100*4 102*2
103% 103%
100% 102*8 100*4 Sep *13
100
95
*13j
104
Debenture 5s
1952 M-S
Gen'l Motors 1st lien 6s...1915 A-O
107% 112
Sep *13
105*2 Nov 12
79
Mch *13
99
106
63" "64*2
64*2 May'13
Aug *13
64t2
106
109U 111
100.
73% Sep
80
M-N
A-O
Distil Sec Cor conv 1st g 5s_1927 A-O
K I du Pont Powder 4>£s__ 1936 J-D
General Baking 1st25-yr 6s_19S6 J-D
Gen Electric deb g 3&s
1942 F-A
105% 109%
105*8
105*8 Sale 105*8
105*8 j'ly '12
9912
M-S
M-S
M-S
M-N
J-J
78
101
1st 25-year s f 5s
1934
Cuban-Amer Sugar coll tr 6s 1918
Dec" II
103
99U
s
79*8
76
103
.
Cent Leather 20-year g
Consol Tobacco g 4s
Corn Prod Ref s f g 5s
82*4 Feb '14
M-S
99
96
M-N
J-J
78*2 86*2
102*4 107
87*4 Jan '13
1921
1926
Series F 5s_.
1931
General 5s
1936
Va & So'w'n 1st gu 5s..2003
1st cons 50-year 5s
1958
W O & VV 1st cy gu 4s
.1024
West N C 1st con g 6s
1914
100*8 103
J'nelS
Feb 13
99
60
J-J
Baldw Loco Works 1st 5s__1940
Beth Steel 1st ext s f 5s
1926
1st & ref 5s guar A a.
.1942
Registered
Writg Paper 1st
105*4 Sep '12
.1916
07
103
103
95
62
A-O
Am
107*8
82*2
82*2
84
70
Feb
75" "83%
103% 107%
12
99
A-O
1944
.1951
..1951
f 5s_19l9
*90
100
pl915 Q-F
1931 M-N
f g
Registered
101
104*4 Sep '13
8434
s
Gold 4s
Sep '13
1013s
99
Oct
88
A-O
deb
Am Thread 1st col tr 4s
1919
Am Tobacco 40-yr g 6s....1944
87" *94"I8
22
100
Deb 5s stamped..
...1927 A-O
Rich & Meek 1st g 4s._..1948 M-N
1919 M-N
....
87%
6s...1919 M-S
g 6
1925 A-O
Smelt Securities s f 68.1926 F-A
Spirits Mfg g 6s
..1915 M-S
Amer Ice Secur
101*8 May'13
IOOI4
101l2
1915 J-J
2
81*2
88
M-N
1928
Debenture 5s
Am Hide & L 1st
105*4 107
J'ly '13
112
102
103*4
8312
81*2
100
Sep 12
79%
79*2 79%
103% Sep '13
3
82%
%
102*8 J'ly
....
"91"
4s '36
1
95%
1949 J-J
term 1st
11%
74%
1960 J-J
94
Sup&Dul div
Aug'13
Aug'13
1*4 Aug'13
90
M-S
1922 J-J
92*2
Mch 13
28
80
19
34
1949
20-year equip s f 5s
Winston-Salem S B 1st4s
Wis Cent 50-yr 1st gen 4s
88" *91
27%
95
1930 F-A
Impt gold 5s
Trust Co ctfs deposit
Am Ag Chem 1st c 5s
Am Cot Oil ext 4Hs
....
M-S
_
93*4
26%
11%
44$
18
16%
100%
Manufacturing & Industrial
Allis-Chalmers 1st 5s
1936 J-J
1945 J-J
C 6s
95*2
84
13
A-O
108
So Car & Ga 1st g 5s.
ser
8612
92*8
92%
94*2 J'ly 12
1943
...
100
1925 J-J
prior lien g 5s_1945 J-J
Series D 4-5s
Series E 5s
gold 4s
75
...B
86
108"
1922 J-J
Virginia Mid
Gen
98
..J
81%
93%
78*2
103%
Income 5s_
...dl943 Nov
Wheeling & L E 1st g 5s
1926 A-O
Wheel Div 1st gold 5s.—1928 J-J
88l2
65
65
May'13
1%
82
100"
1946 A-O
,
86*2 May'13
87*8
104
81*4
Mortgage gold 4s
Rich & Dan con g 6s
76
----
104*4 May'12
Sep '13
10714 108*4 108
93
95i2 92*2 Sep '13
Atl& Yad 1st g guar 4s_,.1949 A-O
Col & Greenv 1st 6s
1916 J-J
E T Va & Ga Div g 5S...1930 J-J
Con 1st gold 5s
1956 M-N
E Ten reor lien g 5s
1938 M-S
Mob & Bir
9078
102i2 105
A-O
Ga Pac Ry 1st g 6s
Knox & Ohio 1st g 6s
102*4 103*8
102*4 Apr *13
105
Mayl2
102% 107
...
3
F-A
F-A
A-O
5s...1937 J-J
West N Y & Pa 1st g
61
*45 " "61%
J'ne'13
...
Wash Term! 1st gu 3 He—.1945
1st 40-year guar 4s
...1945
West Maryland 1st g 4s... 1952
105
54
77
Sale
%
12
J'ly '13
J-J
Ga Midland 1st 3s..
102
"l8~
"...
..—
64%
47%
13
1954 J-D
4s_"
Trust Co certfs
103*4 103*4
J'ly *13
88i2
J-J
J-J
J-J
J-J
1948 J-J
2d 4s..
2d gold
80
73
"73"" III.
J-D
91*5
1994 J-J
Registered
1994
Develop & gen 4s Ser A..1956
Mob & Ohio coll tr g 4s
1938
Mem Div 1st g 4H-5s
1996
St Louis div 1st g 4s.
1951
Ala Cen R 1st g 6s
1918
Atl & Danv 1st g 4s
1948
9178
J'ne'12
102
88
Nov'12
107
79
84*4
90
J*ne'l3
103U Jan '13
80
45
Sep '13
Sep '13
Aug '12
Apr *13
66
104*4
*
1st consol g 58.
73
84 i4 Mch'13
90
104
"77~U
80
46*2
15
Nov "12
103% 107% 104
1941 M-S
Wab Pitts Term 1st g 4s—1954
Cent and Old Col Tr Co certs.
Columbia Tr Co ctfs
64
....
65
"98% "98%
52%
62*4
60*2 Aug'13
48
Aug 13
49
83
M-N
J-J
A-O
J-J
J -J
Southern—
764
93U
100i2
IOOI4
M-N
1937
g.1937
San Fran Term! 1st 4s..1950
Tex & N O con gold 5s
1943
So Pac RR 1st ref 4s
1955
So Pac Coast 1st gu 4s
86
80
....
104
A-O
J-J
A-O
J-J
Ore & Cal 1st guar g 5s
So Pac of Cal—Gu g 5s
66*2
74i2
76i2
73*8
87
8612
1941 J-J
No of Cal guar g 5s
79*f
85%
Tol & Ch Div 1st g 4a
100i2
M-N
M-N
1918
1920
1938
1927
Sep "13
85
"9034III1
1933 M-N
int gu_.1037 J-J
gold 4s int guar
1921 A-O
Morgan's La & T 1st 7s
1st gold 6s
"79*4 "85%
May'13
Mch'13
60*2
....
99*|
94*2
J'no *2
...
Eqult Tnut Co 3tfs
--Do
S tamped
...
Det & Ch Ext 1st g 5s.—1941 J-J
Des Moin Div 1st g 4s.-.1939 J-J
Om Div 1st g 3 *^8
..1941 A-O
-81
"85""
89
92%
M-N
A & N W 1st gu g 5s
76
80
106%
23
99
52% Sale
....
Hioh
101
15
98
90
III I *97"
5s—..1921 M-S
lien 50-yr g term 4s--1954 J-J
ref and ext g 4s
1956 J-J
equip s fd g
uw
No
104
96
Sale
Cent Trust Co ctfs...,
Do
Stamped.
....... «...
Oct '09
87*18 Sale
1st guar 5s red
H & T C lstg 5s
Gen
78i2
Sale
90
J-D
Registered
A1949 J-D
20-year conv 4s__.
ffl929M-a
Cent Pac 1st ref gu g 4s
1049 F-A
Registered
1949 F-A
Mort guar gold 3Hs_.*1929 J-D
Through St L 1st gu 4s. 1954 A-O
.*1949
1st
80
85i{ Feb '13
1013s
1926 J-J
Gold 4s (Cent Pac coll)
1st
90
104
...
Seab & Roa 1st 5s
100*8
78
101*8 Apr 07
82
82
....
Southern Pacific Co—
"99"%
6
98
Since
Jan. 1
5(Jt
Utah
Sale 103%
104
1939 M-N
.....1939 F-A
B.
**.1939 J-J
1st gold 5s
gold 5s
1st lien
84%
78
5s_1947
S A & A Pass 1st gu g4s
1943
S F & N P 1st sink a. g 5s
1919
Seaboard Air Line g 4s
1950
Gold 4s stamped...
1950
Gray's Pt Ter 1st gu
78
65
J'ly '13
79
79
2d
Debenture Series
.
78
78
Hich
113%
37
9914 May'13
86
86i2
99
Sale
86
4s bd ctfs...1989
Low
105
Sep '13
7212
73%
72% Sale
77% J'ly 12
"92 ■:::: 1031| J'ly 12
108
108*4 110
M-N
2d g 4s inc bond ctfs..._pl989 J - J
Oonsol gold 4s
1932 J-D
BtLSW 1st
No
Hith
Ask Low
Bid
M-N
A-O
A-O
A-O
A-O
Rano*
Price
Friday
Sept. 26
BONDS
Rani*
Friday
BONDS
STOCK
EXCHANGE
Week Ending Sept. 26.
T.
813
Record—Concluded—Page 4
New York Bond
1913.]
sept. 27
99*2
98*2 103
_...| 95% 9734
86
102
102%
...
Au"g"'"l3
91*4
91
91% Sale
85% Sep '13
100%
99*2 100*4 100
60
Feb 'la
85
92%
83% 89%
94% 100%
25
85
27
102%
101
100%
100*2
~94% "95*4
91*4 Sale
101%
96
95
....
88% Sale
88*4
98*2 102
90*4
99% 102%
87% 94
98
96%
96%
82
34
90
26ti 97%110%
103%
103% Sale 103%
82%
1
13
102
Sale 102
"79 " II II
423
Sep *131
88*4
27
103'4
96% 102
18
92
91
89
100
121
95
94*4
101% 101%
14
91*4
25
May'13
92
89*|
86
102% Sale 102*4
100% Sale 100%
79
90
91% Jan '13
85%
30
83
102
88%
in
80%
89
....
101
102% 102%
13
80
88
78
98% 104*4
Dec" 12
83% Nov '11
85
97*2
96
85
Aug 12
100
J'ly '13
99% 102
99
100*4
98*2 Aug'13
100
97% Sale
85
97*2
-
08% Sale
97% .Sale
103% May 11
98%
98%
97
97%
Sale
99
99%
98
95
92%
141]
104
93
90%
101%
101%
"95% "98%
61
95
101
98
101
96
21
Sep '13
92
"
97
99%
98*4
99
100%
_
102%
06%
88*2
92*8
J'ne 11
~93~" "93""
Jan '131
MISCELLANEOUS BONDS—Concluded.
Miscellaneous
Coal & Iron
Buff& Susq Iron s I 5s
.1932 J-D
Col F & I Co gen s f g 5s
1943 F-A
Ool Fuel gen 6s
1919 M-N
Col Indus 1st & coll 5s gu..l934
Canslnd Coal Me 1st 5s...1935 J-D
"93% "99 "
Cons Coal of Md lst&ref 5s 1950 J-D
II I I "92"
Gr Riv Coal & O 1st g 6s
hl919 A-O
Kan & H C & G 1st s f g 5s.1951 J - J
Pocah Con Collier 1 st s f 58.1957 J
-
A-O
J -D
Utah Fuel 1st g 5s_.
1931 M-S
Victor Fuel 1st s f 5s___«.__1953 J-J
Va' Ir6n i 'oatA O We 1st g 5s 1949lM- S
,
1
■
"
•No prtoe Friday; latest
82
....
Sale
68
Adams Ex coll tr g 4s
1948 M-S
Armour & Co 1st real est4^s '39 J-D
Bush Terminal 1st 4s
1952 A-O
90
76
99%
77%
85
78
Bldgs 5s guar tax ex
...1960 A-G
Chino Copper 1st conv 6s
1921 J-J
85
68
87%
Inspir Cons Cop 1st 6s (rects)..
Int Mercan Marine 4 Hs
1922 A-O
Int Navigation 1st s f 5s
.1929 F-A
Mge Bond (N Y) 4s ser 2..1966 A-O
73
....
75
76
Sep '13
83*2 "§5
80*2
93
Aug'13
Oct '12
80*2
102%
"91 "II"
85% Sale
77
79i2
98*8 99
98
85%
78*2 Sep *13
99
99
101% 102% 100% Aug'l
102
102
Sal e 102
103
Jly *1
5
6
2
10-20 yr 58 series
Morris & Co 1st s f
3
1932
4J^s
N Y Dock 50-yr 1st g
100% 102
....
.
II
92*2
93
"
hid and asked. 0 Due Jan. 4 Due
1
.
1
-»*■
79%
75
93
80
Ontario Transmission 5s...1645 M-N
Pub Serv Corp N J gen 5s__1959 A-O
RayGonsOopper 1st conv 6sl921 J-J
92
93
Wash Water Pow 1st 5s
103
5
103
-
-
75
74
82%
90%
89*2
85
88
86
92
89*t
1939 J-J
:
Aprfl. • Due May. ' Due June, a Due July, k Due Aug. 0
88
92
75*4
91%
Aug'13
89% Sep '13
80
87
86
180
165
Sep *13
99% Sale
99
99*21
62*4 Sale
89*2
85%
Aug'13
165
62%
63
78% Sep '13!
76
79*d
86
88*2
78
81
J-J
1939 J J
4s...l961 F-A
Nlag Falls Pow 1st 5s.....1932 J-J
98*2 103
100% 103
75% 76
90% sale
1955 J-J
Consol 5s
107% J'ne'12
76
J
StJLRockMt& P 1st5s...1955 J-J
Tenh Coal gen5s____.___.1951 J-J
Birm Div 1st consol 6s
1917 J-J
Tenn Div 1st g 6s___.i_al9l7
Gah C M Co 1st gu g 6s__1922
103
J'ne '18
93*2
Sep '13
75
90
98
90
90*4
al926M-S
Debenture 5s
.^.4'
87
19
99% May 13
86% J'ne 13
82
May'13
101*2 101
90
122
92
89%
89% Sale
109*2 Sale 109%
103*2 102
Aug'13
Deo
99%
82
90
11
99%
89%
84
100
108%
12
"U *88%
24
-110
Deo
94lS 108%
56*2 60%
76% 79%
61
—
96
94
190
12j
•
"
J
«r%m
*
"J" !
•••«
'HI
Due Oct. 9 Due Nov. t Due Dec. * Option iale3*
874
CHICAGO STOCK EXCHANGE—Stock Record.
STOCKS—HIGHEST AND LOWEST
SALE
Sales
PRICES
STOCKS
Monday
Tuesday
Sept. 23
Sept. 22
STOCK
EXCHANGE
Wednesday
Thursday
Friday
Week
Sept. 24
Sept. 25
Sept. 26
30
♦75
♦25
30
*25
30
♦25
30
85%
95%
♦75
»3
85l2
95%
31
8%
3%
25
25
85%
*75
85%
*75
95
95
♦94
95
*94
30%
*8%
30%
30%
•
8%
*3
8
26
3%
*---.
*30
30%
*8%
8
♦3
3%
*
31
♦5%
6%
*22
♦25
35
34%
6%
25
34%
97%
45
*5%
25
34%
96%
■
35%
*8
,
26
'
*35
5%
-•
8%
3%
*3
26
*30
*93%
308s
31
*35-
6%
*24
Lowest
June'13
Last Sale 70
July'13
*93%
29«4
95%
30%
8
5%
32
'37"
3414
3284
34%
95
95
*
94
*410
440
*410
440
135
♦
135
♦_
95%
*40
95%
96
96%
42
*37
*94
96%
131%
53%
53%
78%
78%
65
*51%
*78%
-
78%
*49
57
*50
54
♦53%
54
57
*53
53
54
149
150
149
11% >
101
11%
101
-*97
64
*63
64
29%
77" -*74"
*128
♦118
121
115
115
130
*115
•.
-
^
*127
98
*74"
98
63
*74"
*127
130
*118
121
*118
121
*118
.118
118
*
118
7
101
115
115
*115"
*38
39
*38
39
*3812
92
*89
92
*89
92
123% 124
125
128% 130
128
129
81
*79
82
80
80
80
-95
*94
95
95
95
9514
24
24
♦53
55
190
*53
190%
*118
119
*21
55
*53
190% 191%
*118
Do
92
126
128%
*22%
23%
*80
82
*80
82
105% 105%
255
104
186
105% 105%
104
186
*255
63%
*255
103% 104
185% 190
21% Sep'13
Last Sale 45%
Sep'13
186% 188%
187% 188%
Last Sale 119
*80
82
*255
104
104
104
188
189
105% 105%
260
*185
*255
*1111
1~~
03i8
6358
109i2 109%
*8
10
*8
10
*8
Swift
20 The
185
63%
Stock.t
Stir p. Jfc
Profits t
(005
itted.)
om
American
State., w$200,0
Calumet National
100,0
Capital State
200,0
Central MfgDist.
250,0
Cont A Com Nat.
21,500,0
Gorn
Exch Nat..
Drexel State
63%
109
1911.
*1912.
tod.
An
V. 95, p. 1585 106
Lake View State.
200,0
Lawndale State..
200,0
16
Q-J
6
Q-J
July
Q-J
Oct.
'13, IX 215
'13, 2X 250
Oct.
*18, 2
Live Stk Exch Nat
Mecb & Trad State
1,250,0
623,8
10
Produce
North Ave State-
North Side St Sav
200,0
North West State
300,0
Ogden Ave State
People'sStk YdsSt
Second Security-
200,0
500,0
200,0
10.6 Org.N
109.6
OX
(18,9 Beg. b
Security
400,0
166.5
138,5
25.4
South Chicago Sav
South Side StateState Bank of Chic
State Bank ol Italy
1,504,9
pref
600,0
200,0
•-
6
Q-J
July'13.
175
180
Q-J
7
Q-J
6
Q-J
Q-J
6
6
8
12
Drovers Tr & Sav
First Trust A Sav
Ft Dearborn Tr & S
5,000,0
250,0
Q-J
Q-J
Q-J
10
6
Franklin Tr & Sav
300.0
Greenebaum Sons
Guarantee Tr A S
1,500,0
200,0
Harris Tr A Sav_.
Home Bank A Tr.
1,500,0
300,0
Illinois Tr A Sav.
Kenwoort Tr A Sav
5,000.0
LakeVlewTrASav
LaSalleStTrASav
zJOO.O
200,0
1.000,0
Liberty Tr A Sav
250,0
Market Tr A Sav
200,0
250,0
Mere* ntlleTr A Sav
Merchants' L A Tr
600,0
Northern Tr Co..
1,500,0
200,0
Nor-West Tr A 8.
260,0
200,0
600.0
Old Colony Tr A S
People's Tr A Sav
Pullman Tr A Sav
Sheridan Tr A Sav
100
Q-J
J-J
com
]JS£
wltfe
v
b|
#
Q-J
Oct
Q-J
p?
»7,
n
p.
kvI
574.
Yf
note
.
8
8
>
8
us J'ne
8
Q-J
Sep.30*13,2
J-J
July '13,
1
,
n i
/w
^
11 V
.
92,
p.
Q-J
Oct.
8
Q-J
Oct.
S
Q-J
July'13.
i)
87% Mch 2 4
Jan
121% Jan
30% J'ly
6
Deo
98% Jan
215
Feb 15
J'ly
Jan
105% Jan
zl3534 May
Jan 10
9
"""%
Feu 10
112
Surp. fc
Slock, t Profits.1
(OOi om lued.)
*200,0
1.000,0
2
200.0
14% Jan
Kn
In
In
1911.
1912,
2
9
Sep
3
1,200.0
400,0
12.
5
J-J
95,
10
Inter
Pries
Ju,y 13.
est
Friday
Sept. 20.
F
-
A
A
-
O
J
-
J
J
Eleo
not
o
Ask Low
91
91%
t
94% 96
90
98%
t 92%
NM Ifc
93%
92%
10 J
100%
74
74
Sale
SaJe
51%
100%
88
100%
Sale
99
North West El 1st 4s
1911
152
N W G L A Coke Co 5S..1928 Q-M
Ogden Gas 5s
Peop Gas L A C 1st 6S...1943 A
75-
200
205
-
108
Chlo Gas L A C 1st 6S.1937 J-J
120
Consum Gaa 1st 5s
1936 J -D
Mutual Fuel Gas 1st 5s 1947 M-N
Pub Serv Co 1st rel g 5a. 1956
Ry
trust lien
a
A
Lt
Sale
80
80
80
104%
94%
86%
U 8
96%
Sale
Sale
1924 j"-~j
1914 J-J
101% Sale
*101% 101%
145
80%
96
102
92%
91%
100
93%
92
99% 100
8
99% 103%
99% 102%
1
•
99% 100%
102% 198%
t
1
»
1
"99" "W"
1
Oct
'12
"75"
Sep' 13
""4
81
"20
86%
Aug'13
—
....
mus t
be
95
96%
115% Sept '12
100%
10134
101%
101%
2
49
"ie
3
Aug '13
100
Sep '13
93%
93%
91%
91%
99% Sep'13
85
AprU'12
May'12
•9% July'13
96
Sales fCyUl VCU UOftHIHHIft AjJlI* AO*
reported beginning AprU 18.
Oolco
mrnmmm
100
""7
1
99% 100%
93% 97
99% 102
100
103
99% 100%
99% 100%
91
97%
90% 93%
99% 100%
.....
.....
-....
.....
-----
mmmm
.....
100
....
added to all
31,000,000, the Oct. 1913 dlv. of IX % being first dlv.
A
x
_
88" "89""
-----
Chieage price
99% 101
8.
for national banks and Aug. 11 (opening of business) for State
institutions.
published; stock Al acquired by the Continental A Commercial
to
87"
82
81
-----
98% April' 12
Gypsum 1st g 5a....1922 M- S
•,
78
76%
Aug '13
00U
f 5e.......1923 A-O
Note—Accrued interest
58
99% 101%
i
95% Sept '12
100% July *11
99%
100
100
99
Western Eleo Co 5a.....1922 J-J *100%
180
75
45
35
104% April'12
95
Aprll'12
99
Union Eleo (Loop) 6a....1945 A-O
300
"17
52
10034 May *12
103% April'12
O
1947 M- S
South Side Elev 4 Ha
Swift A Co 1st g 5s
98
*100
...1945 M-N *
Tri-Clty
•
84
93
"72"
Sep '13
t
90
M- S
195
Refunding gold 5a
77%
*12
t
492
324
100%
94%
90
93
'13
»
Nor Shore El 1st g 5a
1922 A-O
do
1st A ref g 5a...1940 A -O *
Nor Sh Gas of 111 1st 6s..1937 F - A
220
90
1
A
1913 M-N
132
57
100%
90% Dec '12
92
A
80
Extension g 4s
1938 J-J
78
Mil El Ry A Lt 1st g 5s..1926 F - A *103
do
ref A ext 4H8..1931 J-J *94
Morris A Co 4>*s.
..1939 J-J t 80%
Nat Tube 1st g 5a
....1952 M-N
162
94
"II
83
Jan
89
98%
88
Sep '13
82%
Lake St El—1st 5s____.-1928 J-J
155
79%
92%
90
Sep
91
917t
"78 "99% YoT%
98%
93%
Sale
93
v
89%
"""5
Salet
94%
High
91
Sep '13
90
82%
92
Year 1913
itow
NO.
101%
City Ry A Llgbt Co
for
"""I
;
3
100%
101
99% June'13
104%
104% "io
99% April'12
99
July 'i3
at
105% AprU'12
-
Rangs
'
Metr W Side El 1st 4s...1938 F
167
High
Feb '13
....
Sale
149
Sept. -ACF A<7AO*
18 1913.
...
217
i>
;
Sale
148
Capital Increased
1913.
...
300
Sold
or.
£ug- 9 (cloae ot business)
Dividends
i
...
■
Sale
1943 M- S *102
185
IX 140
Range
Last
&1943 M- S *101
6f
218
ioS
150.1
•B'di
,91%
91%
77
,79
82% April'12
96
.. 96%
May'12
100% S'llc
10034
101
t.—
81
81% Sop '13
-D
485
295
164
,145
2X 210
Week's
period
5s
430
122
IX 160
3
'13,
July 13.
Q-J
Ask.
13.018
p.
Q M ^co.30'13,2
>M Oct. '13, 3
8&2t
OX
% Bid.
V.
Q-M Oct.
8
8A2e
Las. Pail.
tod.
,
""0"
8A2«
116,0
107,8
200.0
Per-
■
"0"
49,1
1,631,3
Kan
450
320
May
68% Feb
Sep 17
1$ 25,7 Org. J uly
421,0
222
145
290
4
1537 105
*13, 2X
'13, 2
140
Feb 15
68% Jan
100
com
330
2X 214
'13, 3
la"
12
Q-J Oct. '13, 3
Beg. b us. Apr 10'1 1.V.92.P.1004
16A4e
16A4e
9
Oct. *13, 4
7
7A2«
Q-J Oct. '13, IX
6
6
Q-J Oct. '13, IX
94% Dec
99% Apr
r
Feb 13
34
111
Int Har 3-yr 5% g
notes.,1915 F
Inland Steel 1st M g 6s__1928
lXi 1170 175
(If)
July
Feb 21
108%
206%
6%
1%
17
Cudahy Pack 1st M 5a
1924 M-N *100
Dla Match Con deb 6s...1920
tl0412
Gen Mot 6% 1st L notes. 1915 A -"6
145
Q-J Oct. *13, 2X 257
Q-M Dec30'll, 4
Beg; b us. Apr 3'11 V, 92, p.929
Beg. b us .Apr 8'12 V. 94, p. 1030 163
2X
10
Q-J Oct. *13, 2X
8
Commonw
10
J-J
Io3%" Jan
97% Feb 6
2
214% Jan
124% Feb 17
100
Stone..
Commonw-Edison 6a
None
6
Dec
Dec
J'ne 11
Cicero Gas Co ref G m..l932 J-J
135
Oct.'13.
0
50
*
Q-J
—se
80
98
105% Feb 19
9
J'ly 22
182
6
16
mm
200.0
_
3
8
1/52,8 Beg. b
224.5
dm
s
280,4
51,0
800,0
tma
393
'13,
Jan
1
100
Chic Ry PrmMg 4s.cl927 J-J
t—.
Chlo Ry AdJ Inc 4s
C1927 Mayl
52
258
Oct.
JUlyl3,
5X 225
July'13.
2X *220
July '13, 6
300
Oct. *13, IX 144
t
price Friday, latest price this week.
| Sept. 1 1911
a Due Feb.
d Due Jan. 1,
e Extra dlv.
A New stock. ..* I June
5.
m Sept. 19 1913.
» Aug. 28
Yttitei A
'13, 2
July'13,
2
215
July'13,
IX 130
May'13,
99% J'ne24
148% J'ne 10
5% J'ly 31
100
Chicago Telephone 6a...1923
175
Q-J
Not pu bllshed
2.908,5
151.4
-
109
300
8A2e
SX
200
250
Q-M Sep. 30 '13,4
8
6
A Due June,
e
*18, , IX 190
V. 95, p.1944 100
Oct.
r
:
69
107% Mch
Chlo Rys 4s.....series "B" J -1)
t
Chic Rys 4a
series "C" S - A t
Chic Rys coll 6a
1913 F - A
130
Oct
Beg. b us. Ma y'10
105
Org. D ec. 6
'12.
176
Org. S ept. 5 '12. V. 95, p. 593 117
Beg. b us .J'ly 1 '12 V. 94, D. 484 160
15
7,233,1
10
Q-J Oct. '13, 4
425
73,0
Q-J July'13,
IX 129
112,5 Com.b US. Ap 10'1 1 .V .92,p. 1004 212
3,000,0
Michigan Ave Tr
Mid-City Tr A Sav
125
M-N
6X
8
142
'13, 3
390
19'1 2 V. 95, p.523 141
Uf .Aug
'
250.0
Q-J
10A2e
8A2«
172
Q-J July'13,
2X 250
Nov I'll V. 93, p.1235
8
6
IX
Oct. '13, IX 167
July'13, IX 135
'Oct. '13, IX
130
Sep 23
85
Aug 14
101% Jan 13
280
J'ne 12
Cbic Pneu Tool 1st 5s..<rl921 J-J
Chicago Rys 5i
1927 F - A
Chic Rys 5s
series
'A" A -O
10
us
6
8
1,967,6
171,2
3.249.1
15.9
118.7
286.2
152,0
2,410,5
82,2
10,438,1
99,6
94,6
292,7
n27,2
m30,5
147,0
*12.
12
*
10
'460,5
27
ov.
6
6
.
23,2
3,000.0
134
221
6
J'ly
92
Chicago City Ry 5s
1927
Chic City A Con
Rys 5a.rfl927
Chicago Elev Ry 5s
1914
262
218
5
2.115.9
379,5
1,000,0
1311,7
6,600.0 12.263.2
ContAComTr AS
225
255
693 130
.
Feb
61
x
195
Am Tel A Tel coll 4a
1929 J-J
Armour A Co 4Hs.----.1939 J -D
t
Auto Eiec 1st M 6s
1928
t
Cal Gas A El unlf A ref 5a 1937 M-N
t
116
J'ne30'13,2
600.0
1600,0
Sep.30'13,3
Mch
103
115
Jan 27
63
ioi'j'ne II
Bid
136
July
p
J'ly 10
90% J'ly 23
19
Aug 29
40% Aug 4
We^k ending Sept. 26.
136
V. 95, p. 273. 132
p
65
(IT)
Q-J
4,500,0
Chicago City B AT
Chicago Sav B &T
Chicago Title & Tr
Colonial Tr & Sav
265
8
149,8 Beg. b
8
247.1
6
166.1
100,0
Central Tr Co of 111
250
6
.
2.661.8
250,0
Waahlngt'nPkNat
2
Maj
Dec
122% Feb 17
118
Jan 25
2
14
r. V:.
120
7
Jan
105% Dec
Chicago Bond Record
240
6
-
Dec
53
J an 23
J'ne
iow'nVio"
CHICAGO STOCK
EXCHANGE
8
.
97
98% Jan 14
76% Jan 31
115
BONDS
330
(if)
95,
Deo
J'ne 27
35
Ward, Montg'y & Co pref
445
132
2 V
Oct
J'ly
63
180
442
6
:
750.8
114.9
1101,2
14,4
63.3
200,0
1,500,0
200,0
Stock Yards Sav.
Union Bk of Chic.
55.7 Beg.
87
•103
Feb 13
77
53
100
...
.465. 116
10A2«
Q-M
us.Aug 26'1
200,0
2,000,0
2,000.0
250,0
200,0
National
Oct? "'13"
V. 94,
Feb 11
110% Sep 12
Sep 24
260
175
236
'13, 5
Q-J Oct '13,
IX 110
Q-J Oct. '13, 2
215
•7,9
159.4
Nat Bk of Repub
National City
110
10
30*13, 4%
Jne 30 '13, 2%
Feb
10
122% Oct
22
V. 95, p.944 138
145
July '13.
294 °296
3
Oct.' 13, 4
z412 415
Jne
Jan
135% Jan
114
com. 100
West Side Tr A Sav
Wood lawn Tr AB
...
Q-J
note
184
Sep 11
150% Aug 15
16% Jan 31
;
Sep 15
May 19
Standard Tr A Sav
Stockmen's Tr A S
Union Trust Co..
...
7'12
e
221
Mch
Div.dend Record.
10
—
Mch
Capital
Ask.
July'13, lHw 220
Jan '13,
150
6
'13.
National
Feb
44
Jan
J'ne 11
Southwest Tr AS
27
200,0
8
Q-J
12
10,000,0 12,126,7
17
Q-M
FirstNatlEnglew'd
12
150,0
233.3
12 H Q-M
Foreman Bros..
1,000,0
Prlv ate Ba nk
545,9
Ft Dearborn Nat.
8
2,000,0
892.4
8
Q-J
Halsted St State.
200,0
27.8 Org.N ov 25 1912
Hibernian Bk Aaap
2,000,0 1.235.0 Notpu bllsbed
se
Hyde Park State.
200,0
41.6 Beg. b us Aug '12.
Irving Park Nat..
100,0
12.5
Orga n. Feb •12;
Kaspar State
10
400,0
10
217.5
First
77
49
123
155
NAME.
us. Oct
,
6
Jan 29
55
130
111% J'ly 14
._100
Wool worth,
% Bid.
OX
89% Jan
J'ne 12
117
Co
Western
Last Paid.
None
an.
,
Englewood State.'
Per-
Mch
2
100
pref
A
1,365 U 3 Steel
l6"
Aug'13
Last Sale 91% May'13
In
*206,7
6
62,6
20,9 Org.
031.0 Beg.
10
10.540.1
16
6,554,3
4 6
118,9
10
393,9
57,8
6*
3,000,0
300,0
750,0
Drovers' National
In
39
Mchl9
100
Dividend Record
Capital
3
55% Sep 16
J'ne 12
113
Quaker Oats C6.100
Do
Chicago Banks and Trust Companies
NAME.
Jan
A up.
118
Unit Box Bd & P Co. 100
July'13
62%
63%
Last Sale
...»
Dec
105
100
297 Union Carbide Co
Do
rights
Aug'13
Last Sale 1%
10
Feb
138
67
__100
pref..
Do
'""304
260
Last Sale 6
"Y"
10
*255
81
185
"
1
Dec'12
105% 105%
260
104
18812
45
100
3
JMch22
60% Sep
100
com
pref
Do
'""loo Studebaker Corp
Last Sale 92
105U 105%
260
94
3,757 Sears-Roebuck com__100
Sep'13
Jan
100
common
Do
Feb
Feb
131
1
2
Mchl8
100
100
fiumely
22
64
64%
64%
65%
109% 109% *109% 109%
64%
109% 109%
*8
82
--
105% 105%
260
"Y" ♦--_.
*
*80
22
23%
11% Jan
91
325
13
71
J'ne30
23
100
PubServ of No 111
Do
pref
40
96
Last Sale
188
18978
*118i2 120
119
•*22%
pref
Mch
Jan
Jan
Feb 11
98
10,042 People's Gas LACoke.100
10
55
J'ne 10
May
55
5
77
100
Pacific Gas 5c El Co
Do
preferred
Sep'13
96
24
*53
55
*118
23%
*21
189% 190%
119
*22%
255
24
•«
J'ne
8
Do
pref...
____100
National Carbon
100
*115
Last Sale 38%
92
*89
9514
*21
6
10312 Jan
139% Jan
Apr 26
125% J'ne 10
100
National Biscuit
118
Oct
35
Feb 11
135
73% J'ne 10
J'ly 8
4712 J'ne 12
Marx pflOO
Sep'13
.
80
*94
1
50
100
Sep'13
*
;
3
Knickerbocker Ice pf.100
124% 128%
♦79
'
Internat Harvester Col 00
*89
*21
39
100
76% Aug'12
118
39%
*89
.J'ne 11
130
J'ne10
July'13
Oct
3
Alchl8
500
Sep 17
Sep 18
1st pref.
J'ne
6
14% Aug
4
93
220 Hart Shaff &
Last Sale
*115
39
92
Aug28
126
com
Nov
19% Nov
46% Jan 31
129% Jan 30
J'ne 10
215 Diamond Match
_100
100 Goodrich (B.F.) com.100
28%
98%
Last Sale 118
♦89 "
81
325 Corn Prod lief Co comlOO
Do
pref
100
Feb'13
*27%
28%
Last Sale 130
*38
129%
77
*100
101
'*
9% Jan
45
21% J'ne 10
_100
pref
5 Uinois Brick
130
6
Mchl8
200
\
y.Last Sate
121
122
*127
33% Sep
5
9
Sep
2
4% Apr 5
37
Sep 26
6
430
p
Chicago Title & Trust 100
1,735 Commonw' th- Edison. 100
*27%
98%
"77"
45
150\
Last Sale 107
77"
Dec
40
11/11
*400
May
83
9
*5%"J'ne
100
Shipbuilding__.10C
Do
25
90
40
58 Cai & Chic Canal & D 100
252 Chic Pneumatic T00LIOO
63
130
*11478 115
"57"
3
J'ne 28
100
53%
149
98
64
*50"
5% J'ne
J 'ne
2
100
Fisheries
Jan
Jan 20
16% J'ly 24
Telep & Teleg__100
50 Broth
76%
57
18
.
W Stable C D-100
Do
57
53%
53%
-best-Sale 219
Sep'13
2812
*118
-
76%
53%
11
*27%
55
*50
149U 150
29%
40
30
91
Jan 14
J'ne 10
88
Do
pref__
100
American Radiator. .100
Do
pref
.,.106
150 Amer
131% 131%
*51%
55
Highest
.
102
70
Lt.100
pref
Miscellaneous
10 Amer
96
*51%
54%
216l2
11
650
131% 131%
i"o"f~ *166" 10T"
*28%
97%
*62%
77"
96
Do
95
Lowest
Highest
24% J'ne 4
J'ly 16
100
"1"
"2"
"3"
"4"
1,350 American Can
34
32%
Last Sale 130% Sep'13
*37
41
*37
41
57
5334
11%
♦loo"
100
♦63
♦74"
*50
216%
11%
101
98
*28%
41
*214
149% 150
11%
28%
*96%
28%
135
54
216% *214
*11
J
*37~
41
54
216% *214
101
...
436""Sep"i3
Last Sale
96
96
*96
97l2
131% 131% *131l4 131%
*51%
55
55
*5112
77%
77%
*77%
78%
131% *131
149
37"
95
440
41
*214
Sep'13
"""65 Streets
35
♦--_.
41
*131
pref
Rys part ctf
1,395 Chic Rys part ctf
100 Chic Rys part ctf
ChJc Rys part ctf
"""60 Kansas City Ry &
Do
pref
5%
.
35
135
*
Do
41" Nov" 12
Last Sale
440
•96%
*
Chicago Elev Rys comlOO
95%
Yerr (1912)
Railroads
10 Chic
8
♦93%
Last Sale 3%
,
6%
30
35
96%
Last Sale 28
45
,*5%
34
34%
Range for Year 1913
Shares
-
♦25
Previous
Range for
CHICAGO
of the
Saturday
Sept. 20
National Bank,
on
new
capital.
e
JN*,
Sill
Due Dee.
V. 97. p. 15f»]
| A/tFOt* are paid
f Diva,
PIUU Q,-J„ W1U< metre
with OaIT
,«4r»
,
24% ^umu^d diyidend. , w Increase in <»pltal to 3400,000 authorised Sept.;24, a cash dir. ol 75% .tq be declared la payments <^r,
yAug. 22 1913.
s Capital increased to
oonneotton tlatw
3300,000; V. 97. p. 705.
^ ^
4 - ,4> :
%
Sept. 27
1913.]
THE
Volume of Business at Stock
875
CHRONICLE
As*
B.a
Exchanges
e
Am
Steel
AT THE NEW
YORK
DAILY, WEEKLY AND
SOocks.
Shares.
State
Tuesday
78,630
173,733
*
293,488
353,306
277,455
..........
Total
1,471,372
.....
Sales at
New
Bonds.
$532,500
998,500
1,602,500
1,928,500
1,438,000
1,629,000
'$121,140,725
1913.
-
Stocks—No. shares
1,000
Bank shares, par
•
e
*60 "
1912.
$6,000
411,000
8,129,000
bonds
Erie 6s
RR. and misc. bonds.
Total
.
94,457,085
$8,532,889,975
$548,200
$1,551,720
22,370,200
355,432,600
$1,073,600
21,365,500
519,780,000
$379,354,520
$542,219,000
Hudson
6s
111
Cent
1915.
Harvester
'15. F-A
5s
97
/ 85
1912
Lake Sh A Mich So 4128.'14
9912
9912
Michigan Central 4i2s_ 1914
94
Minn & St L g 6s 1914..F-A
K C Ry & Lt 6s
TRANSACTIONS
AT
THE
AND
BOSTON
PHILADELPHIA
Boston
Bond
Listed
Unlisted
Y Cent 4H3 1914
4l2s 1915-...
Shares.
Sales.
Shares.
Shares.
Bond
5s Apr
Tuesday
......
Wednesday
Thursday
....
Friday
3,643
12,008
16,175
18,422
27,104
25,060
'
Total
50,202
...;
$13,000
23,000
25,400
102,412!
$144,900!
4,002
8,218
5,801
5,209
3,052
39,900
8,500
35,100
3,139
4,770
15,553
are
now
6,478
16,700
25,000
40,152
Ask
United Lt A Ryfl com
15
18
2d
stk..100
mtge 4s 19f;0
J-J
64
66
B'y & 7th Ave stk—'.
100
2d mtge 5s 1914
J-J
Broadway Surface RR—
140
160
J-J
100
1st
100
100
1st 5s 1924
Cent
Crosstown
stock i_100
preferred
..100
100
Common—
Preferred
e
......100
Wash Ry A El Co
9914 100
Preferred
■
m+t mm
102
4s
10
M-N
100
Cen Pk N & E R Kstock. 100
1
Bid
100
100
...
1961
J-D
1
Preferred
1st
Second
.100
140
1948 ctfs.-F-A / 20
5s
90
mm
Twenty-third St stock.. 100
Union Ry 1st 6s 1942.:F-A
220
103
Westchester 1st 5s *43.J-J
88
94
YonkersSt RR 5s 1946. A-O
DO
96
100
Preferred
e
90
91
83
lli C stk tr ctf3 Ser A.,
85
77
98
103
92
99
Preferred
e
•
100
.100
Detroit United Ry
100
,e Louisv
e
Preferred
e
Pub Serv Corp of N J—See
Tr ctfs 6% perpetual
77
x
list
mmmm
72*2
102
105
124
98
9912
mm m
...
100
mm mm
R
95
1924
2d 6s
100
1914 opt
..
mm mm
*
Per share."
subs.fiianes.
z
1Q0
76
187
190
100
82
85
375
100
7412
76
303
310
76
1160
Stand OH of N J
1927
J-J
133«
'75
J-J
95
150
152
96
295
300
295
300
81
82
174
176
*33
'
35
13ijs
375
J-D
Swan A Finch
'14M-N
85
87*2
89
93
100
325
130
preferred—100
Gas 6a
1926..A-O
100
100
St Joseph Gas 5s 1937... J-J
Standard Gas A El (Del) 60
Preferred
—
50
United Electric of N J... 100
J-D
Elec Corp. 100
......
Preferred
.100
100
100
—
Washington OH
..
5s 1941 op.J-D
"93*1
Pittsburgh Steel pref.. 100
Pope Mfg Co com
100
11
9
100
31
35
100
99
102
Producers Oil
100
130
Realty Assoc (Bklyn)
100
RemingtonTypewt'r comlOO
1st preferred
100
2d preferred.
..100
Royal Bak Powd com—100
105
"
Preferred
40
38
mmm***
99
mm
182
mm
187
10212 104
100
Preferred
•*
"
110
100
110
112
Safety Car Heat A Lt.-.lOO
Sears,Roebuck&Co—SeeN Y Stk E x list
142
150
Singer Mfg Co
100 z295
84
90
Standard Coupler com..
100
35
40
Amer Machine A
58
68
100
105
111
British-American
*2612
74
91
93
Pacific Coal—100
90
100*
Texas Pacific Land Tr.100
90
•
e
Ex
Preferred—See Chic Stk
Preferred
Stern
Bros
270
290
pref
.100
Sulzberger A Sons Co pf.100
150
180
Texas A
109
2634
lis t.
300
77
100
115
e
160
180
TonopahM In (Nev)-SeePhlla Stk E
Mac Andrews A Forbes..
180
200
Trenton Potteries com..100
4
Porto-Rican-Amer
215
230
100
50
250
260
7
100
120
100
,—100
90
92
..—100
3
45
47
Tob.
Preferred
95
Preferred
new
Trow
Directory..
United Copper—
Preferred
e
United Dry Goods
99
e
Ust
7
55 *
12
*9
14
6
92"
99"'
100
Preferred
x
100
101
190
200
110
118
160
165
104l2 106
9612
9634
)
225
285
)
110
120
)
140
170
43
48
12
*
37
90
"
14
32
Preferred
95
'
)
Alliance
Realty..
)
125
69
135
Preferred
32
92
114
113
e
83
113
/ 74i2
75l2
110
100
45
73
25
114
U S Steel Corporatlon-
3
*43
*50
3
160
170-
3
135
140
3
205
210
45
50
3
97
99
86
87*2
0
118
120
52l2
..
J-J
E R Ferry stock. 100
101
12
M-N
45
98
.
21
N Y A Hob 6s May
18
Hob Fy 1st 6s 1946..M-N
N Y A N J 5S 1946......J-J
691|
71*2
preceding page,
9612
3
Ferry Companies
B AN Y 1st6s 1911
1st 5s 1922....
15*3
36
..
95
97*8
♦
"44"
>
-90
30
m"
15*4
*40
•
Western States Gas A El—
1st A ref g
25
Pratt A Whitney pref
380
Tobacco Stocks
...
....
50
...
,97*2
mm
♦
•
2200
134
87
89
81
82i2
129
131
38
42
67
89*4
86
89
94
100
——
9812
102
108
*x88*r 92
118
93
95
96
38
39
85
86
88
93
90
95
♦7'4
8*2
*3114 32
85
80
80*2
37*4 38*4
75
76
14i2 16
44
45
_
50
78
96*2
..100
preferred
3
70-
100
Preferred
*785
5s
1st
e
Ji
2i2
100
..100
com
Pittsburgh Brewing
385
com
*TA
Pettibone-Mulliken Co 100
c
392
400
*46..J-D
100
1919.....J-D
Union Ferry stock...... 100
1st 6a 1920.....
M-N
lQth A 23d Sts Ferry....
1st mtge 5s
101
95
26
50
105
15
,
American
American
Book..
Brass..
55
....
—...
30
68
0
Hardware—.
0
»
24
29
99*2 101
0
Westchester
80
120
126
k Ex-300% stock dividend.
t.
A
Bronx
165
Guar..—."
) **136
Weetingh'se Air Brake.50j*x 136
A Mtge
50
0
American
75
U S Tit Gu A Indetn
e
Uth
67lj
)
)
69
85„
92
70
Willys-Overland com.
99*, 10034
35
40.
And accrued dividend,
b Baals,
k Listed on Stook Exchange but usually Inactive. ;/ Flat price,
n Nominal
Ex-dlv,
y Ex-rlghtoU g Includes all new stock dividends and subscriptions. . • Listed on Stock Exchange but
5
79
z74
*h
76
,92
a
*4
72
Preferred
385
90
80
20
162
388
'
40
185 *
com—.100
10
Y Transportation
157
*2
20
25
66
5
--m
-
180
N
132
1*9
105
10
.100
Preferred
e
65
Southern Pipe.Line Co.
a
Hnny. wu. be found oil
com.
N Y-Mtge A Security*..100
N Y Title Ins Co...
100
Otis Elevator
N Y A
100"l2
6
Trent P A 3 fis 1943.
e
45
225
17
Tennessee Ry LAP com.
137
246
73
Preferred
170
222
20
Republic Ry A Light...
100
100
m
110
Pat Ry con 6s 1931..
100
National Surety
New York Dock
243
Preferred
100
5s
Mortgage Bond Co
108
Western Power com....
m» — m —
105
*13g
«
359
United Gas A
~77h
55
99
145
106
Cities Service Co
mmmm
210
40
182
com.
353
..100
112
204
100
20
.100
1st g 4s 1949...
100
7612
Preferred
48
Preferred
230
Con M 5s 1928
141
110
Manhattan Transit
*46
Pat A Pas Gas A Elec... 100
104i2
103
New'k Pass Ry 5s '30.J-J
Ext
178
100
108
,..—100
Manhattan Shirt...!
75
368
.100
4
51*i
125
—
65
70
106
115
J-D
50
...
Pacific GasAE com.... 100
76
64
103
*60
1st 6s 1948
140
362
3
A-O / 49
Internat Smelt & Refg.,100 .109
1 Lanston Monotype—
100 z80
200
Lawyers' Mtge Co.
100
Lehigh Val Coal Sales...50 200
172
100
104
International Silver pref.100
Nlles-Bem-Pond
No Hud L H A P 6s 1938A-0
63i2
71*2
•
Co...50
119*2 120*1
100
Ohio Copper Co
c Ontario Silver.i
Newark Consol Gas
10212 103
101
.
195
-mmm
100
Salt
1st g 5s 1951..
223
Madison
Stk E
International
380
Narragan (Prov) El Co. 50
Newark Gas 6s Apr '44.Q-J
No Jer St 1st 4s 1948 M-N
share
375
cLaclede Gas
28
70
Per
mm
m
100
a.
218
Essex & Hudson Gas...-100
101
62l2
110
Preferred
76
96
100
105
Internat Banking Co
International Nickel
104
86
..100
100
78
79
100
77
•Nor Ohio Tr & Lt com. 100
9
"78I4
*74
Elizabeth Gas Lt Co
New Ori Rys & Lt ct«n.l00 n 25i4
«N Y State Rys com
8
»
100
Indiana Pipe Line Co.-j.-50 *134
National Transit Co.
25 * 43
79
,
'*91.
J-J
St 5s 1930
100
Preferred
112
50
coin
Intercontin Rub
675
4*2
48
43
120
31
185
Crescent Pipe Line
334
J-J
65
310
15
----
100
*29
e
lOOlf
com
*57
100
._
1st g 5s 1961
Ingersoll-Rand
e
700
OH...
—
Hocking Val Products. .100
88
104
Northern Pipe Line Co—100
10,3
Ohio Oil Co
.25 *131
75
100
100
325
80
Preferred
t
5
1922...I..
315
1st & ref 5a '29 opt
95
26
Federal Light A Trac._.100
5912
690
5
98
100
1st 6s
New York Transit Co... 100
1946..J-J
102
10312 Hudson County Gas..— 100
5612 5812 Indiana Lighting Co—100
4s 1958 opt
76
78
-F-A
65
<68
Indianapolis
Gas
60
1st g 6s 1952
68
75
A-O
Jackson Gas 6s g 1937..A-0
77
70
*31 F-A
..M-S
Hoboken Land & Improve't
1st 5s Nov 1930
M-N
Herring-Hall-Marvin
40
Gr't West Pow 5s
Com'w'lth Pow Ry & L.100
Preferred
..._100
10
65
101
Gas & El Bergen Co——100
Other Cities.
6
60
......
Hecker-Jones-Jewell Milling
22
Preferred
Denver G A El 5s 1949.M-N
Flatbush—
1st 4^s July 19.41...F-A
Stelnway lsf Gs 1922....J-J
Conn Ry & Ltg com
72
100
1st g 5s June 1 1922—J-D
.
70
j.
93
90
__
"2
66
;
"55"
50
90
100
Preferred
.
17«
83
100
Havana Tobacco Co
40
*21
Continental
9912 IOOI4
♦1%
"
107
100
2812
*
Consumers Power (Minn)—
N Wmsburgh A
•
119
105
.10
...
...
25
5s 1938
100
101
Buff St Ry 1st con 5s
117
'-1st preferred
2d preferred
20
290
Borne-Scrymser Co
Buckeye Pipe Line Co
50 *169
660
Chesebrough Mfg Cons. 100
130
Colonial Oil
100
103
13
183
Ref g 4s *52 op 1912...J-J
Hale & Kllburn com
100
70
Consumers' L H A Pow—
82
J-J
:
100
33
178
Goldfleld Consol M
90
£1
100
OH
87
28"
100
Preferred
e
140
Standard Oil Stocks
Anglo-American
65
28
k Hackensack Water Co—
102
1st 5s 1933..M-S
rn'mrn'm
80
100
97
5618
...50
...
90*2
2*8
128
100
com
'
37*i
*17g
100
;
99
1st
75
124
General Chemical com.100
e
Railroad Securities Co¬
West Pac
20
...
Preferred
Preferred
125
Chip A St L com.. 100
Pitts Bess A Lake Erie--_50
89
89*2
82l2
Preferred
c
99
Con Gus of N J 5s 1936
102
102
70
100
2714
e 1st
preferred
...100
e 2d preferred
100
Northern Securities Stubs..
1138
Preferred
e
100
Preferred
sl60
Nassau Elec 1st 5s 1944 A-O
165g
9978
Columbia Gas A Elec...100
98
'
N Y
Galena-Signal Oil
Preferred,
IOU4
80
83
1612
Amer Power A Lt com.. 100
95
98
79
100
com
9812
58
65
Preferred
A-O
99
100
Preferred
Crucible Steel
e
Am Lt A Trao com...... 100
Atlan AveRR con 5s '31 A-O
157
67
95
...
160
Preferred
15
99
Brk C & N 5s 1939
2d preferred
45
Bay State Gas
60
Buffalo City Gas stock.. 100
Brooklyn City ltR
10
Bklyn Hgts 1st 5s 1941.A-O
Coney Isl & Bklyn
100
1st cons g 4s 1948
J-J
Con g 4s 1955.
.-J-J
e
145
Am Gas A Eleo com
Brooklyn
B B & VV E 5s 1933
95
62
100
N Y Mutual Gas L
Other Cities.
200
100
37
92
Debenture 4s 1951—.A-O / 60
33
Continental Can com
100
75
130
Eureka Pipe Line Co
Standard G L 1st 5s'30 M-N
80
A-O
3434
100
75
Cumberland Pipe Line.. 100
98
Tarry WP A M 5s '28..M-S / 75
28 A 29th Sts 6s *90 ctfs A-O /
7
So Fer 1st 5s 1919
100
Preferred
97
m
100
com.
102
Preferred
8912 100
J-J
Sou Boulev 5s 1945
100
North'n Un 1st 5s 1927.M-N
112
97l2 101
100
Heating
Rubber Tire
Empire Steel A Iron
1
...
103
N Y A Richmond Gas
28
103
100
—
Car
Consol
86
preferred
98
e
3
1
Avenue stock...100
Consol
•Sixth Avenue stock
Preferred
Colo & South
N Y A Q El L A Pow Co. 100
1
Preferred
■
"60 "
Consol
9934
120
N Y & E R Gas 1st 5s '44 J-J ; 101
l»—< to
58
24
Chic StPM&Om—.
Consol 5s 1945.......J-J
1910....—M-S /--
6s
80
Railroad
36
100
115
125
Electric, Gat & Power Cot
New York City
Dry Dock E B & Batt—
J-J
1st gold 5s 1932
99l2 10U2 Cent Un Gas 5s 1927
J-D
32
e Kings Co El L A P Co.100
Scrip 5s 1914....
.F-A / 30
New Amsterdam Gas—
300
Eighth Avenue stock...100 275
1st consol 5s 1948
10012
J-J
Scrip 6s 1914
F-A / 99
Ninth Avenue stock
100
2d preferred
mm
.100
5s 1915.J-J
Atlantic Refining..'
240
preferred.
Cluett.PeabodyA Co comlOO
9934 IOOI4
5% notes Oct'17— See N Y Stk E x list
e
79
*83
75
77
66*2 70
Christopher & lOth'StstklOO
220
80
on
ou
9934
m
,
93
75
100
c
Westingh'se El & M 6s 1915
Ask
3
42d A Gr St Fy stock...100
42d St M & St N Ave... 100
32
87
100
98
-elst
West Penn TrAWatPow 100
103
1st mtge 6s 1922
28
100
com..
995g
West Maryland
e
United Rys of St L—
York City
100
Preferred
Claflln (H B) Co
97
e
"and interest" except where marked * f
1st preferred.
New
-
City Investing Co..
90
mm
$135,200
6,907
33,1891
Bid
Bleeck St & Ful Fy
133
Emerson-BrAntlngham.. 100
19,600
33,000
5,840
4,372
Street Railways— (Con )
Street Railways
129
997g
9834
9914
9934 100
$16,200
24,100
e
prices
100
99i2
.Sales.
Inactive a-nd Unlisted Securities
bond
\
e
9534
10i8
1758
AH
92
120
Celluloid Co
list.
mm
8,227
9,533
10,798
9,806
7,034
89
110
;
Davis-Daly Copper Co... 10
duPont(EI) "de Nem Pow 100
M-S
.
100
of America. 100
5%
M-N
,
52
5%
5%
A-021
21 1914
..
284
50
995g 100
Philadelphia.
Unlisted
Shares.
Monday
107
*25s
b 5.30
Listed
4,804
118
105
b 5.30
Week ending
Saturday
290
116
97
4^s Jan 1914-1927...J-J b 5.30
Sept. 26 1913.
285
.100
Preferred
96
EXCHANGES.
.
.
„
85
130
Casualty Co
95
DAILY
60
"
80
British* Col Copper Co
5
Brown Shoe com..
...100
9934 IOOI4.
9938 9934
96i2 9714
99U 9934
Int A Gt Nor 5s 1914..F-A
Inter
.
V*
15
122
cist
1914....J-J
4Hs
6
com
Preferred
9978 100i8
9914
9834
9734
9714
1913...A
15
99
1
100
50
Companies—
Oct
96
100
50
99
95l2
Gen'I Motors 6s '15—See NY Stk Ex
64,254,537
$5,775,486,000
$136,400
$8,546,000' $14,369,000'
bonds
9912
9812
1914..,
Coll 5s Oct 1
M-N
com
Preferred)
9912 100
96
9012
April 8 1914...
Coll 5s April 1
1912.
Bliss (E W) Co
99
,
$411,000''
1913.
$3,500
1,538,000
12,827,500
i
Bklyn Rap Tr 5s 1918...J-J
Ches A Ohio 4^s 1914.. J-D
ChlcElev Rys 5s 1914...J-J
$6,000
97
Bond A Mtge Guar
100
Borden's Cond Milk com.100
1915
Copper 5s
4*1
43
95
100
94
90
Short-Term Notes
Amal
185
4
40
Preferred
90
Teleg pref.
Balto A Ohio 5s 1914...J-J
Jan. 1 to Sept. 26.
•
Barney A Smith Car
70
70
175
*
..100
...
Deb g 6s 1939
Amer Writing Paper
69l2
120
154,000
Bonds.
Government bonds
State
Pac Telep A
$5~o65
65,000
'
81
50
5
Typefounders com.100
Preferred
80
$15,000
78,000
83,000
16,000
$8,129,000
3,720,061
1,471,372
$121,140,725 $337,240,950
$18,000
$24,300
value
Amer
Northwestern Teleg—
e
Stock
York
50
120
67
Bonds.
Week ending Sept. 26.
Exchange.
Par
$6,622,500
14,312,800
24,601,150
24,987,875
27,567,100
23,049,300
294,760
——
Wednesday.........
Thursday
Friday
American Surety..
American Thread pref
V. 8.
Bonds.
Par Value.
Pacific A Atlantic
Saturday.......—..
Monday......
72
7912
Ac.,
26 1913.
no
(N Y)__.
Un Tel
Railroad,
Week ending
Sept.
100
00
Comm'l
EXCHANGE
67
F-A
40
STOCK
YEARLY.
Ask
98l2 100*1
1935.A-0
Fdy 6s
Deb 43 1923—
112
TRANSACTIONS
Bid
Indust and Miscell—(Con)
60
5714
10534 107
Central A South Amer.l
75
'
*Pal® Pf1®®*
"
Infrequently dealt in; reoord of
Ex-
876
BOSTON STOCK EXCHANGE—Stock Record.
SHARE
PRICES—NOT PER
STOCKS
BOSTON STOCK
EXCHANGE
Sales
PRICES
CENTUM
of the
Saturday
Mondav
Tuesday
Sept. 20.
Sept. 22.
Sept. 23.
•95*4 95*2
•97«4 98*4
199*2 199*2
87
*95«j
187
59
87
87
187
*184
61
61
63
*257*2
15
*7
66
♦56*2
lilt
♦43 ~
42*2
•163
164
*163
105*2 105*2
•200
164
98
...
98*4
88
103
•101
*87
*102
•14
15*2
68*2
SB
2 1-32
2 1-32
*14
68*2
68
68
88
87*2
8734
8734
Last Sale 102
16
68*2
8684
*101
14
90
2
2X*
16
88*2
2*4
2*4
•
*164
..
164'
165
•25*2 28*2 *25*2 28*2
•159*4 159*2 *160*4 160*2
*86
*86
86*2
86*2
•
140
*70
70*4
•89
90
*
140
*165"
165
28*2
28*2
*86
*_...
Northern
30*2
1583s *160*4 160*2
100
*25*2
.100
Dec
300
10
Dec
1-
Deo
80
7*i Feb 19
,
66
.
Men
7
7?
7*4 Mcl^ 6
45
Jan 24
J'ne
Dec
12i2 Jan
Aug
50
Feb 14
Apr
May
67
Jan
J'ne 19
166
170
Jan
IOH2 J'ne 20
J'ly 9
98*4 Sep 23
107
Mch
107*2 Oct
112
J'ne
260
Jan 13
260
J'ly
272
Jan
Feb
128
Jan
May
8
119
Dec
126
Feb 10
121
J'ne 1x179
88
Sep 20
83
Dec
110
Men 13
122
J'ne 28
130
Apr
91*2 Jan
14738 May
23*, Jan
Dec
16
Dec
5
723g Dec
79
85*4 Sep 18
125
4
198s Feb
Feb
1234 J'ne 14
67
166
£
Jan
126
6
83
Dec
Feb
1428s Apr
"2% Aug 12
li4 J'ly 22
100
115
J'ne 25
130
*128*2 Oct"
143"" Jan"
100
158
J'ne21
187
Jan
70
Jan
100
127
16214 Jan
90*2 Jan
160
Feb 27
162
100
Aug 28
139*2 J'ne 12
80*b J'ne 10
176*2 Feb 11
38
Mch25
tl74
25
70
50
85
Pacific
100
pref
Vermont & Mass
Sept'13
290
..100
H._
70
70
70
"70"
70"
71
71
71
71
320
*89
89*2
89
89
89
89
89
89
88
88
22
♦46I4
48
93*2
*46*4
931*8
234
17*4
47
48
246
46
155 Amer Agricul Chem__100
*92
92*2
3*8
196
70
100i8 Jan
Jan
50
N
Colony
Rutland, pref
40 Union
Do
July'13
Last Sale 127
140
Electric Cos
Do
64 Old
165*2 165*2
2984
30*2
158*2 158*2 *158
Last Sale 86
*86
86*2
86*2
2»/#
*27
100
pref stamped .100
2,102 N Y N H & Hartrord.100
10,472
Do
Rights
89
*165
*27
1603s 1601*8
110 Mass
344
J'ne'13
Last Sale 115
•164
Fitchburg pref.,
Dec
2
Ga Ry &Elec stmpd.100 *115
Aug 8
Do
pref
100
82*2 J'ly 11
Maine Central..
100
100
Apr 29
22
Jan
94
Feb 25
163
218
Nov
Jan
290
200
River...100
Dec
112
202
97
42*2 Sep 20
Do
pref
Connecticut
68
*
89*2
2 5-32
233
89
Sep
7
6
111U Oct
104*4 Feb
Apr
13434 Mcb
222U
211' j
205
Ifighest
4
1037s Feb
101*4 Nov
Sep
2
114*4 Jan SO
Jan 27
May
J'ne__
May 11
57*2 J'ne
....
Chic June By & USY.100
140
Sept'13
*14
16
68
88*4
2 11-32
2*8 2*8
Hi
*14
*
pref
...
105
*88 1
*87
Do
Boston & Wore Elec Cos.
Do
pref
Sept'13
9S34
99
*98*2
99
Last Sale 11778Septl3
103
103
14
68
10 Boston Suburban El Cos.
25
Last Sale 200
89
*101
*68
8634
*87
"l4"
14
68
88
83*j J'ne
50
Lowest
106*4 Jan
jiOlSs Feb
215
Jan
Apr
250
Sept'13
105
105
—100
Year 1912
ots
Highest
935s Sep
9534 J'ly
190
181
53
Last Sale 164
100
4 Boston & Providence. 100
15
*43
100
16 Boston & Lowell.—100
100
...
*7
pref
666 Boston & Maine
67*2
♦56*2
66
May'13
63
105
210
*87
*255
7*2
*43
53
9884
98*4
98*4
98*4
9884
119
II8S4 *117
118*2 *117
89
65*2
60
88*2
185
185
Last Sale 7
105*2
*203
265
7*2
164
105*2 *105
210
14 o
Boston k Albany
128 Boston Elevated
121
..
*87*2
67*2
60
10
♦163
164
*203
*117
•11778
86*2
66
*43"
45
*163
15
*56*2
*
10
*43
88
*255
*200
185
65
~*7~
15
66
105*2 105*2 *105
*202
9
*7
45"
*
88
185
65
265
63*4
95*4 Sept'13
Sept'13
100-sAar«
of
Lowest
Rnilror.ds
Atch Top & Santa Fe.lOQ
Last Sale 97
185
*184
260
*
Last Sale
199*2 200
basis
hangs *Or Trebhtis
Since Jan. I
.,anye
On
Sharesf
Sept. 23.
Sept. 25.
95
Week
Friday
Thursday
98«4
199*2 199*2
86
86*2
63*2
♦56*2
66
10
*94«4
♦98*4
185
260
"15"
•7
•56*2
9
95*2
98*2
199*2 199*2
86*4
86*2
*183
59*2
•257*2 265
♦98
9578
98*2
199l2 200
87*2
•184
*95*4
*98
Wednesday
Sept. 24.
.
West End St
Do
pref
....
Sep
Feb 21
J'ly
J'ly 15
Sep
>57
Jan
Dec
176*4 Sep
9378 Deo
89*8 Sep
Dec
164
80
Oct
96
NOV
887, Feb
103i2 Mch
150
81*2 Feb
100
Jan
_
J'ne
41
Jan
Miscellaneous
•47
48*2
93*4 93*2
»284 1 3*2
•18
1884
93*2
*212
48
♦46*4 48
9334
9358
9334
*3
3*2
2**4
1754
1734
18
112
112
112
11234
115
11584
11534 ♦115
1313s 1311*8 131*4 13158
3*2
*17*2
18*2
112
11278 ♦112
112*4
115*4 11584 11534 11534
131*4 131«8 131*4 131*2
82*2
83
*61
62
•95
96
83 *«
83*2
83*2
*81*4
837S
♦933s
94
*3
3*2
17*2
18
111*2 112
*3
75
112
115
1313s 1315s
131*4 131*2
Last Sale 173s June'13
8212
80*4
80
81*2
62
♦61
62
*61
62
62
62
62
62
62
*95
96
*95
96
*95
96
96
96
*9
10
9*2
16*2
17
16*2
17
*15*2
42
*96
10*2
*12
•270
13
12
12
271
270
271
147
147*2
146
147
*99
100
92
92
91*2
♦214
93
91*2
91*2
*2*2.
*20
3*8
30
*66
*20
*214
3*8
•15212 153*2
*16
.1658
10534
26*2
26*2
105
*27
28
*1
27
28
170
♦
"
61
65*8
109
109
153
153
*16*2
105*4 105*4
27
26*2
27
26*4
*1
1*4
5034
26
6
95
May20
104
86
J'ne 16
209
J'ne 14
15434
63*2
105
105*8
26*2
27
26*2
26*2
51
50*2
28
28
627g
pref.,
100
100
10
100
637s Apr
7
109*4 109*4 *109*4 109*2
22
J'ne 12
101
25
26
25
26
25
.....
United Fruit
999 Un Shoe Mach
Do
236
pref
8,302 U S Steel Corp
51
J'ne 18
14918 Sep
5
1412 Apr 16
...
Torrington
Do
pref
'"§97
63*2
300
2
155
Jan
189
Dec
13
103
Apr
107
Jan
95
Oct
Do
pref
J'ne 24
Jan
J'ly
93
2
Mcb
6
28*2 Jan 15
28*4 Jan 20
Corp. 25
25
100
100
Aug
4*2 J'ne
105
Dec
.
Mcb-
Mcb
184
Feb
Aug
173« Apr
109i8 Sep
1334 Jan
98*2 Jan
2/
May
32
Jan
28
Jan
31
Apr
2
Jan
4
.85
Jan
182
Jan
3
A 17-4
384
208i2
67*2
2934
803g
1163|
Apr
J'ne
Aug
Sep
Sep
Oct
-
3
27*2
J'ne 11
60
Jan
2
111
Jan
30
58;j«
107i8
Sep
Jau
Dec
Feb
Feb
Jan
4
6
Dec
Jan
3
300
Apr
41*2 J'ne 10
263s J'ne 24
60
Jan
107
164
168
2
16*2 Apr
108
987g Feb
22 J
Dec
90
Mcb
II8I4 Oci
9112 Jan 11
Jan 11
165*2 Jan
Dec
90
2
Apr
J an
17*4 May
214*9 Dec
2I2 Mch
10212 J'ne 10
100
.
147
6
8
160
Sep 15
Sep 25
$4J'ne
Feb
958a Mch24
Sep 4
3*2 Feb 8
50
Men
Feb
9
93*2 Jan 22
16
105
20
220
9
Union-Copper L & M
35
Jan
Nov
Aug
288*2 Jan 10
Apr 28
Apr
100 xl36
Telephone
71
134
28
63*2
3
17
Pullman Co
80 iieece Button-Hole
319 Swift & Co..,
•
*16*4
26*21
50*2
*2712
6234
28
63
153
Do
137 N E
146
10
.100
Telephone..
N E Cotton Yarn
15
Mch
94*4 Mcb
84
May
*9oi4 J'ne
5
Mcb
30
1012 Aug
1Q34 Jan
272i2Sep
18634 Jan
.....
Last Sale 1*4
Sept'13
173
174
2171*2 171*2
51
2778
146
27
*26
26*4
1*4
17334 174
174*2
5034
6H4
275s
271*8
64
65*8
109*2 109*2
28
5
87
75
14
Jan 23
J'ne 10
Electric.
Mexican
Sept'13
Sept'13
145*2 145*2
15234 15234
*16*2
17*4
105
105*4
145*4 145*4
Jan
149
Nov
79*4 Nov
12ls Aug 22.
19*2 Aug25
J'ne
Sept'13
Last Sale 67
*66
Jau 10
Jan
7
1,092 MassachusettsGasCoslOO
152
Do
pref
100
15 Morgenthaler Lino...100
93
92
Last Sale 20
30
10
22
Apr 30
McElwain(WH)lst pf 100
214
Last Sale 3
3*8
*212
*20
214
fi
21
113$4 Dec
114*4 Dec
137*2 Jan
837g Sep 23
J'ne
Sept'13
9234
9H2
92
216
3*8
.
9234
92
*214
170
51
28
643s
92*4
92
216
30
~*r
169"
93
92
*16*2
27
*27
1*4
168*2 168*2
5084
51*4
*27*2 28
64*4
6414
109*8- 109*8
92l2
J'n»
Nov
Ma/
Aug
9
239 General
*214
6*4
24i2
133*8
12384
130
120 Edison
146*8
*99*2 100
Mch
257
12
270
146
Last Sale 99
Mcb
14
.100
12
269
105*4 105*2
27
26*4
16*2
Boston Land
10
Elec ilium...100
12
270
*66
16*2
205 East
12
146*2 146*2
145*4 145*4
145*4 145*4
153*2 15313 *153*2
105*4 10534
16*4
270
12*2
9
105
Aug
75
69
63'4 Mcb
Dec
3
100
147
*12
J'ne
Dec
98
Mav27
270
*2*2
*66
*145*4
16*2
J nel2
110
64
2
4*2Jan
3
2384 Jan 11
118*2 Jan
3
117*4 Feb 1
140i2 Jan
3
9234 J'ly 23
...
146
216
*20
30
15*2
"1*5*2!
105
Jan 11
99*4 Jan
Amoskeag Manufacturing
Do
pref
100
pref
45 Atl Gulf & W I S S L.100
163
Do
pref.
100
10*4
4
J'ne 23
2*2 J'ne 11
16*4 J'ne 9
100
Do
270
1234
*99*2 100
9234
93*4
93
9214
92
"*2i"a
15*2
25
*8*2
16*4
50
41
*91
125i2 J'ne 10
163* Feb 28
74
May 8
147*2
147"
217
9*2
pref
271
*12
93*2
217
16
*
*99*2 100
9*2
*8
9*2
50
American Woolen
376
81
*9
Do
100
176 Amer Sugar Refin
100
146
Do
pref.
100
1,590 Amer Telep & Teleg.100
112
115
pref
Pneu Service
10 Amer
♦17*2
115
115
Do
65'4 Feb
4
28*2 Feb
46l4
Alining
•1*2
*280
l's
290
20*4
•1*2
37*2
2038
78
178
37*2
78*s
21*4
21*4
1*2
*277
1*2
290
2078
1*2
201*4
37
37
775s
78»$
21
21
.
434
5
*s4
.90
68
6:
*2
37
68
445
445
•14
15
14*2
43*8
43*4
43
40
40
39»4
2*4
•2
12*2
445
37*
685
37
*
36
36
78
76
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21
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21
20
67
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41
3934
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1234
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75*2
39*2
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18
30
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19
19
19
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19
32
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85*2
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54
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30
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9
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43
17
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28*4 285g
87a
9
2*8
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178
512
515s
*82
2114
28*2
17
♦165s
17
28*2 285s
Sept'13
Sept'13
5i2
512
5212 631a
Last Sale 17b
6
52
5*4
615s
86
80
83
83
83
217g
21U
2134
21la
23
5*2
62
63
62
62
19*2
195s
35
2*8
1984
3412
34121 *34*2
30
31
26
3*4
32*2
3*4
32U
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7*4
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14
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27
27
3
3*8
32
5
33
434
2
7
7
29
30
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3
32
484
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32
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1978
214
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7
7
30*2
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32
484
4*4
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2684
3
32*x
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26
3*$
32
4»4
.25
26
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32*2
4»4
.59
.59
.69
.60
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40*2
40*2
48*2
2*8
•9*2
40*2
49
214
10
41*8
42
42
42
41
41
41
4134
485a
485s
4878
49
4878
234
9*2
49
2*4
4834
25g
48»4
65
55
2*4
95s
635s
2
2
9*2
65
-*1
48*2
9*2
55
%
95s
54*2
1*4
1
1*4
1% 1%
.90
.9a
.90
.95
.95
46*2
•a4
45*2
*
1
45,
•.80
46*2
.90
Bid and asked prices,
*
,.95
45*2
•.80
.95
e Aaa't
paid,
278
9*2
9*2
5134
52*8
•1 Hi
1*4
214
.95
44
*4
.95
44*2
a4.
9*2
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*1%
*.9Q
44
b Ex-stock dlv.
*.55
234
9*2
.65
Coal
1
.95
.95
45*4
45*4
5
25
25
Copper
750 Mason Valley Mines.
100 Mass Consol
25
5
25
Mayflower
25
60 Miami Copper......
6
70 Michigan..
26
275
......
...
v
25
420 Nevada Consolidated.
5
1,270 New Arcadian Copper 25
340 Nipissing Mines.....
5
2,290 North Butte........ 15
North Lake
25
.....
Oiibway Mining..... 25
1,640 Old Colony
25
....
1,595 Old Dominion Co....
.....
25
25
10
a
Quincy
410 ^anta
....
25
10
25
Fe Gold & Cop. 10
......
10
3,797 Shattuck-Arizona—
400 South Utah M & 8...
10
5
675 Superior
....
25
1,060 Superior & Boston Oop 10
152 Tamarack.....——
25
776
25
Trinity
2
2
18
Jan
6
47*2 Jan
63
Jan
27
2
Jan
2
4
9
J'ne 10
J'ne 10
Aug 14
6*8 J'ne 19
J'ne
J'ne
J'ne
J'ne
20*4 J'ne
3*4
47,
214
6*2
4
12
11
10
10
37
J'ne
16
May
30
Nov
.70
Dec
2
11*8 Sep
,40*2 Jan
23
May
Apr
J'ne
Aug
Nov
17
Jan
2
59
Jan
4
87*2 Jan 10
85
33?s Jan
6*2 Jan
16*4 Jan
26*2 Jan
2
Apr
i,J'ne 6
3
Apr 30
41*4 J'ne 10
73i2 J'ly 12
3*4 Jan
8*$ Jan
Jan
107
Jan
J'ne 10
28*4 Jan
80
Jan
66
Dec
5^i
2284
2i8
1*9
26,
Jan
Feb
Deo
Deo
Jan
2
44
Jan
2
100
Deo
4
2
I
15
Mch
22
Jan
3
72l8 Doc
16*| Jan
Jan
3
43
Deo
1
J'ne 12
He Aug 15
1
Jan
13*2 Jan
2
Sep 33
0
17
Jan
Feb
6*4 J'ly 10
3
Feb 19
.15
Aug 12
J5
22
J'ne 10
_
81
21
1% Jan
21
3
2
J'ne 10
Mayl5
J'ne 10
J'ne 10
klSep 1?
40*4 J'ne 12
.40
J'ne
3d paid,
w
Jan 18
40*y Jan
#4$, Feb
88
Jan
6
Jan
60
9
2
46
40
Unstamped.
8
J'ne 30
.90
•
Dec
Jan
Jan
Dec
Jan
15*4 J'ne 10
10
Ex-div. and rights.
10*i Dec
33
310 Victoria..25
870 Winona ........... 25
25
4U Feb
5
_
9*2 Mch29
34*2 Jan
2
2*4 Jan
2
50
....
Apr
34
Feb
1
Deo
3
36
Jan
4
Jan
6
*fj
3
Jan
Jan
419 Jaa
2
S
76
Jan
l*c Jam
Half paid.
Apr
Apr
J'ne
Jan
Apr
Sep
Apr
73
J'ne
248s
6*4
0*4
893,
884
•6*4
1314
Sep
Apr
Deo
Oct
Apr
Jan
May
8
04
Oot
130ij J'ne
29
Nov
05
J'ne
24i| Sep
Apr
•7
f) May
177, Aug
S4ij Not
4«£ rfy :
sPist
2igDeo
14
Jaa
47
Jan
Not
1
3t
®t
s*0**Scp
9*9 J'ly
2
2
May
49
14ia
9*4
18*2
30$s
6i|
<
Dee
9)
3*s Jan 38
48*t Jan
2
278 Sep
11*4 Jan
*4 Dec
2
4
Feb
3
Jan
22*4 Deo
18*4 Jan
4512 J'ly 7
lig May 6
714 May 6
Wyandott........... 25
.80
2
J'ne 11
6534
9114
37*4
3*s
Jan
4
66
50
5
70 Wolverine
2
2i> Jan
65
ll*s Oct
2034 Jan
2
4*4 Sep 24
83s Feb 4
26*2 Jan
3
5*4 Jan
3
10*2 Jan
2
-
Sep 20
6
Apr 28
$4 Jan
3
19*4 Jan
15
Sep
66*2 Apr
7*2 Mcb
1634 Sep
16*4 Apr "
7734 NOV
Feb
J'ne 10
21$4 J'ne 10
May 17
Apr
27*2 Apr
60*4 Nov
7*2 Feb
*2 J'ne 10
8*ia J'ne 10
.99
615
Feb
15*2 Dec
2514 Feb
48*2 Dec
312 Oot
12*4 Jan
078 Sep
8
7
13
J'ne
Apr
J'ne
Aug
35
J'ne 10
....
19*2 Feb
67*2 Feb
405
Oct
67s
9*4
634
6184
83if
Jan
Oct
34
pref
2
4*2 Dec
-'^0 J'ly
Jan
J'ne24
40*2 j'ly 30
35
24*2 Feb
2$4
2338
1*%
50*2
.95
8*4 May
50*s J'ne
92&s Oct
Dec
Feb
22
.59
Do
Dec
35
60
33
1
5,200 Utah-Apex Mining—260 Utah Consolidated—.
519 Utah Copper Co.....
2
*1*4 Apr
J'ly
370
78*4 Sep 16
35*2 Aug 29
25
Jan
2
J'no 19
2»8Jan 14
1
Jan
15*8 Jan
Sep 10
32i2 Sep 25
18
2
Jan
50
1,425 Tuolumne Copper
1,172 U S Smelt Ref & Min.
200
h Ex-rights,
1
25
Jau
72i2Jan
2778 Jan 10
i4May 8
312 J'ne 27
4414 J'ne 12
79
J'ly
1
25
Copper
Copper Co
100 La Salle
61
3
556
J'ne 10
14
25
Do
43
pref
675 Isle Roy ale Copper..
1,315 Kerr Lake
517
284
9*2
6212
1*4
.99
45
Creek
925 Shannon
40*2
48*2
.60
95 Island
Copper
Mining..
192
29*2
4
25
423 Ray Consol Copper..
60 St Mary's Min Land.
7
3
200 Helvetia
19*2
29*2
10
Aug
Feb
414 Sep 23
45
18*4 J'ne 10
56*2 J'ne 11
395
10
...
63
7
•2678
Gold
141 Osceola
29*2
*.20'
Hedley
5,760 Pond Creek Coal....
36
7
li4 J'ly 14
2
25
100 Hancock Consolidated
149 Mohawk
~~87g "9"
63
7*4
1*2
44
♦3412
2*4
23*4
44
5
9*4 J'ne 10
3
Sep
5
100
...
*2234
*1*8
J'ne
10
6,287 Granby Consolidated. 10O
752 Lake
6
1634 J'ne 27
2*4J'ne 6
.05
37*2 J'ne 10
Cop Min.
280 Keweenaw
""8*2 " 8"*2
J'ne 10
20
Daly-West.
1*2
4*4
May20
29*2 J'11011
62
Copper Range Con Co 100
980 East Butte
110 Franklin
8*2
4U
5*8
44
28*2
10
25
.15
2378 Sep 25
2i4Jan
3
42i4 Jan
8
803s Sep 16
327R Feb 10
5i2Sep 17
30U J'ne 10
8*2
•
20*8
30*4
85
Last Sale .85
4
25
6,
330
J'ne 10
5
4*8
34*2
*2*8
7*4
53*2
2
•1634
1*4
935
10
10
Hecla
75 Centennial
1,690 Chino Copper
19*2
5*4
43*2
1*$
43*2
2,183 Calumet & Arizona
15 Indiana
3
8*2
23
10
4*8
1*2
4*2
•8
5,048 Bu^te-Balaklava. Cop
11,205 Butte & Sup Cop (Ltd)
19*2
V
4*8
1*2
*4
5
30
5
20
30
30
5
34*2
2*4
7*8
63
18*2
.45
52
25
326 Greeno-Cananea
.45
20
63
4i2
76*4
1
5334
85*4
!
Bos&CorbCop&SilMg
'
2*2
12*4
5
*
36
26
5
40
2*2
12*4
4*2
7334
20
3*A, 3%
33
6*4
22*4
40
12*4
Mining..25
112 Calumet &
14l2
4178
•3434
•.20
•32*2
87
22
22*4
3
*14
3884
67*2
May 12
J'ne24
10
6,475 Amalgamated Copper 100
1,230 Am Zinc Lead & Sm. 25
6
11,047 Arizona Commercial.
441
413s
8*4
23*8
1*8
'
*4
26«4
2634
63s
*2*2
8*4
♦2234
3
9
23*8
1*2
4384
♦23*4
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6
534
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3
43*2
1678
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878
29*4.
17B
8*2
4*2
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23*8
♦1*8
4334
233s
1*2J
53
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6*8
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6712
440
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4*4
1*2
8*2
4*2
5*2
6758
445
19
84
Hi
37
*18
20
4
""3*4 ~~Zh
*32
*.45
120 AJgomah
300 Allouez
25
...
.
225
33*2
20
1*2
'
72l2
3212
*5212
9
3
63
*3412
*4
412
*4
5334
.
334
36*2
*2
12
Ahmeek
51,544 Alaska Gold
.95
39
5
3% 3%
*1«8
1
4*2
14l2
4134
♦52*8
♦83*2
86
20*2
334
1*2
♦20
384
1*2
20*4
.
40*4
5
53
85*2
53
22U
53
20*2
U2
*23*8
54
.
*.45
5*2
334
67s
4*2
834
*5
5*4
4*8
1
85*2
634
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*.45
20*2
•13j
•41s
*5*i
*484
1
*14
30
75*4
33*8
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440
14*2
4184
39*2
2*2
1212
4*8
74*4
33*2
1834
2*2
12*4
35i2
67
68*2
450
43
4*8
76
5*2
36
445
34
*5
3*8
69
75*4
*.45
334
258
35
14*2
41*
1
.76
7638
4*4
1
445
33
*.45
438
*34
37
1
275
75 Adventure Con....25
184
Sept'13
233s
237s
1*2
1*2
36*2
36*2
76
7678
20
20"*4
4*2
45s
15s
*36
>!
4*8
478
1
4*4
37*4
*34
23s
36*2
*1*2
2378
7534
*13s
43
3934
2*4
12*4
*4
*13s
445
14*2
433s
12
2*2
203s
68*4
445
1234
2134
*1*4
215s
134
2U4
158
438
23
15S
Last Sale 280
21
6*s
2*4
3738
158
134
290
77
.80
'
*277
37
5
*2
*1*2
11*8
290
20*8
1*2
.80
37*8
15S
*277
Jan
1* Dee
I*, Dec
M
Dee
1
Deo
•JSSS
TtiMefc
1
I
WeeJfs
Friday
Range or
Since
Sept. 28
Last Sale
Price
BOSTON STOCK EXCHANGE
Week Ending Sept. 26.
I.
Jan.
1020]
-
J
M-N
101
|Am Zinc L & 8 deb 6s
0..1995 A-O
-July 1095 Nov
July 1995 M-N
..1955 J-D
1917 J-D
Afcch Top & S 1 e gen g
Adjustment g 4s
Stamped
50-year conv 4s
10-yeaT conv 5s
;Atl Gu-f & W I SB Lines 58-1959
J-J
—1935J
M-N
Bos& Corb 1st conv sf 6s
[Boston Elev3 -yrg4s
Boston & Lowell 4s
_-1923' M-N
19161 J-J
---1944} J-J
1942 F-A
Bur & Mo Riv cons Cs
191&I J-J
Butte El & Pow 1st 5s
1951 J-D|
Cedar Rap & MoJtiiv 1st 7s 1916 M-N
Cent Vermt lstg 4s
May 1920 y-F
OB&Q Iowa Dlv 1st 5s—1910 A-Ol
Iowa Dlv 1st 4s
1910 A-O
\
Denver Exten 4s
1922 F-A
101
101
....
88
83%
101
_.i.
83
r
98
9~9%
9812
1921 M-8
3V$s
_1949j J-J
Chic Jet Ry & Stk Yds 5s.-1915 J-J
Ch M & St P Wis V div
A-O
84l2
1920|
J-J
J-J
6s_.1920j
Chic & W Mich gen
91
A-O
& W 1st 4s
"92" " "95"
11
122
IIII
Aug'13|
95
Oct 12
Feb '13
Mch
the purchase price for ail Boston
bonds.
Monday
Tuesday
Wednesday
Sept 23
Sept 24
Sept 25
111
111
112
111% 111%
97
Bonds
(For
26
1,317
20"
•19
47%
48
48
27
47%
•
•57%
20%
26%
*57
58
60
116
5
58%
♦18
19%
♦18%
20
49%
26%
180
*114
•18%
49%
2G%
16
16
57%
57%
•
48%
48%
20%
26%
*18%
953s J'ly '13
95%
95%
90
J'ly '13
90
90
95%
95% Sale
93% Sep '13
94
101% Sep '13
92
96%
93
95%
J'ly '13
97
97
9934 Sep *13
99%
97% Feb 13
981? N ov 11
97%
9934
97%
96%
9914
93% Feb 12
"7%
100%
J-J
J-J
M-N
9514
...
97
F-A
98i2
99
87
88
asked. 1' Flat prices.
49%
26%
48%
48%
26%
*48
Year
26%
26%
Do
pref
100
United Ry & Electric. 50
864
50
50
50
Electric Co of America 10
Elec Storage Battery.100
Gen Asphalt
100
Do
pref
100
American
50%
50%
"39%
39%
50%
"39%
39%
*39
39%
39%
51
51%
50%
51%
50%
*50
50
49%
50
49%
49%
•37
38
37%
37
37
:
40"
*39"
*39%
•37l4
38
•76
76%
•12%
70%
*12%
13
•25%
25%
25%
*85
•37
<
49%
12%
26%
*26
26%
85%
85%
*85
86
*85
79
79%
78%
78%
21%
21
21
♦78%
20%
3414
34%
34%
56%
44%
6038
66%
44%
23%
44%
22%
•34%
56%
43%
23
22%
23%
22%
22%
*22%
84%
84%, 85%
23
84%
<
*4%
49%
87
79%79%
79%
J'ne 10
120
Jem 16
96
J'ne12
120% Jan 31
23
Apr
4
68
Jan
9
101
J'ne 10
123
121
2
53'j Jan
45% Mch
27% May
5934 J'ne
27% Apr
o
18% Jan
23% Sep
Feb
C
23
Jan
6
Feb
6
Jah 30
4% 4%
22%
*22%
84%
84%
84%
83%84K0
4,662
478
•
49
49
86%
87
86%
86%
10(1 1001^101%
50(
....
loot
lOQj
Consol Trac of N J
10fl|
75J%
10(1
501
1
5(1
Insurance Co of N A.. 1(1
u
(Kentucky Securities.. 10(1
[Keystone Telep, pref. 501
(Keystone Watch Case lOQj
91 %|
48
100!
BethleU S'tl
fennsy receipts $30 paid.
50
21.%
6% cumulative pref. 50f
Phila German & Norris 501
Phila Traction
6Qj
(Railways General
lOf
Tonopah Belmont Dev
1,
United Cos of N J
10O
United Trac Pitte pref 501
Virginia Ry & Power_.10M
Preferred
-.100]
(Warwick Iron & Steel- 10
[Washington-Va Ry
*
49
—
"36'd
GonM4Hsg
1933.J-J
1948.J-D
Consol 6s 1923
J-D
Consol 4 Hs 1923
J-D
Annuity 6s
J-D
39iJ 41
44%
Gen cons 4s 2003 __M-N
'35 J-D
1935.M-S
1935 M-S
"7%
Markets tEl 1st 4s '55M-N
NatLH&P serB 5s *19 J-J
New Con Gas 5s 1948.J-D
N Y Ph & No 1st 4s'39 J-J
"80»J "81%
9
7
ioy
1st series B 5s
Income 4s 1939
M-N
[Pa & N Y Can 5s 'SO.A-O]
Penn Steel 1st 5s '17.M-N
11
_
100,
People's Tr tr ctfs 4s. 1943
P Co lst&coll tr 5s'49M-S
Con & coll tr 5s *51 M-Ni
Phil Elec gold tr ctfs_A-Oj
Trust ctfs 4a 1949
J-J
P & E gen M 5s g *20.A-O
eU—
Wilkes Gae & Kiee.
50
11
1%
Gen M 4s g 1920
J4%l U
Md ashed; as sales en toli day^ £JBx-dlu and
.
J'ne10
As*
93
J-D]
84
ctfs 4s '49 _J-J
United Rys Invlst coll tr
s f 5s 1926
M-N
105
J-D
84%| Welsbach s f 5s 1930
971;
97%
Wil-B G&E
con
100% 100%
93% 94%
7234
73%
90%
103"
5s '55.J-J
93%
A-O
1937.J-D
Inactive Stocks
91
77%] "78"
Atlan Coast
99%
Canton
L (Conn).100
Co
Consolidation Coal
166""
111"
Georgia Sou & Fla
1st preferred
lll%j
2d
preferred
G-B-S
Brewing
100
100
.1001
242% 250
170
~97
25
100
91
..100
80
3
100]
Bonds
931
jj
Prices are all "and
interest"
3^s 1930...J-J
1954-1955...Various]
69
...M-N
Anacostia & Potom 5s A-O
Atl C'st conv deb 4s.M-N
~98%| Atl Coast L(Ot)ctfs 5a J-D]
5-20-yr 4s 1925.
J-J
B S P 8c C 1st 4 Ha *53 F-A|
111
Bait Trac 1st 5s '29.M-N
No Bait Div 5s 1942J-D
86%]
101
Cent Ry cons 5s '32.M-N
100
Ext & Imp 5s 1932 M-8
86
86%
Ohas City Ry 1st 5*'2. J-J1
102'jj 103
81% 81% Chas Ry G & El 5a '99MS
City & Sub 1st 5s 1922 J^-D
"98"" 98% Olty&Sub (Was) 1st 5« '48
101
Bait City
4s
"94
5s 1916
rights,; £»JL5 pald._ 1.13« paid.
«17«pai<L
Jan
8
60
2434 Feb 44
28% Jan
3
85% Sep 23
6% Jan 13
51% Jan
9
91% Feb
3
6
Apr
27
Apr
Feb
87% Mch
78% Feb
8% Jan
23
J
60
Dec
a n
4J34 D.cc
11 lrj% Jan
22% May
74% Jan
6
Dec
49% Feb
86% Jan
94
98
93%|
100
89%
92%
90
102%
103%
92% Jan'
18% Sep
32% Deo
Apr
63
56% Feb
2434 Sep
29
Act
94~
99
104
43^sl954
J-J
J-D
3-4--S 1921
5th series 5s 1926
ser
93%
A-O
J-J
Consol Coal 5s 1950._J-D
Fair & CI Tr 1st 5s '38 A-O
Ga & Ala 1st con 5s '45 J-J
Ga Car&N 1st
s g '29 J-J
Georgia P 1st Gs 1922
J-J
Ga So & Fla 1st 5s '45.J-J
G-B-S Brew 3-4s 51,M-S
Houston Oil div ctfs
F-A
Knoxv Trac 1st 5s '28 A-O
Maconlly&Lt 1st 5s'53J-J
Md Elec Ry 1st 5s '31 A-O
Memphis St 1st 5s '45.J-J
Monon V Trac 5s '42 J-D
Mt Ver Cot Duck 1st 5s
NptN & O P 1st 5s'38M-N
N & A Terml 5s '29
M-S
Nor&Port Tr 1st 5s'36 J-D
Norf Ry & L 5s '49..M-N
North Cent 4Hs 1925 A-O
series A 5s 1926
J-J
Series B 5s 1926
J-J
Pitt Un Trac 5s 1997
J-J
Poto Vol 1st 5s 1941
J-J
Sav Fla & West 5s '34 A-O
Seab Air L 4s 1950...A-O
Seab & Roan 5s 1926
J-J
south Bound 1st 5s_.A-0
U El L&P 1st 4Hs'29M-N
Un Ry & El 1st 4s 'J9 M-s|
Income 4s 1949
J-D
Funding 5s 1936
J-D
Conv notes 5s 1914 J-J
Va Mid 3d ser 6s T6.M-8
102%
92%
Sep
89% Apr:
8% Apr
53
Sep
92% Aug
Consol Gas 5s 1939
4th
100
39% Dec
73% Deo
13
Sep
35% Sep
100
Sep
102
102%
101
Jan
Sep
55% Oct
12% J'ly
58% Aug
Bid
BALTIMORE
Gen
BALTIMORE
58%] 58%;
9
18
59% Apr
Cons G JS & P 4Ms '35
Un Rys tr
York Rys 1st 5s
61% Jan
7
47
1
Col & Grnv 1st Gs 1916
114
Read Trac 1st 6s '33
Stan'd Gas & El 6s'26
31%Jan 9
93% Jan
3
J an
3,
2378 Mch 28
37% Mch 28
84 %
J'ne
40% Oct
4i% Men
11% J'ly
52% Jan
Coal & C Ry 1st 5s TOA-O
Coal & I Ry 1st 5s'20 F-A
110% Stand Stl Wks lst5s'28 J
U Trac Ind gen 5s '19.J-J
100
101
1st series A 4s
-
....
103381
Leh V Tran con 4s
Preferred
lOQj
Co
.10(1
West Jersey & Sea Sh_ 501
Westmoreland Goal— 50
100
Railway—,— 50
1924.Q-FJ
Leh V ext 4s 1st
44
J'ne 10
37
Roch Ry &
*96%
Leh V O 1st 5s g
106i3l06%
J-J
L con 5s '54J-J
Spanish-Am Ir 6s '27._J-J
4
29% J'ne 12
63% J'ne 4
10034 101
Asphalt 5s 1916.M-S
M-S
Interstate 4s 1943
F-A
Keystone Tel 5s 1935.-J-J
Lake Sup Corp Inc 5s'24 O
Lehigh Nav 4^s '14.Q-J
fWelsbach
Warrant®.
'33
8534
96
J-J
Rys tr ctfs 4s'49J-J
Edison Elec 5s 1946„.A-0
Elec & Peoples Tr tr ctfs.
Fr Tac & H 1st 5s *40. J-J
lOOj
Preferred %
.100
Phila Co (Pitts) 5% prf 50
P W & B col tr 4s'21..J-J
85%
6s 1998.Q-F
Ch Ok & G gen 5s 1919
Con Trac of N J 1st 5s
80
50|
•
4
nelO
1534 Jan
Bid
PHILADELPHIA
Ask
all "and
are
-.
Ph & Read 2d 5s 1933 A-O
Ex Imp M 4s 1947.A-O
Terminal 5s g 1941 Q-F
1917
A-O
Atl C Gas 1st s f 5s '60 J-J
Berg&EBrew lst6s'21 J-J
30
100
.North Pennsylvania
Bid
Harw Elec 1st Gs 1942
Nat Gas Elec Lt & P
Preferred
V
50
Gen
55«4
Preferred
United Gas Lmpt
Del Co
pinohill & Schuyl H.. 6o|
"
50
819
interest"
101
5J
(Lit Brothers
Little Schuylkill.
pfork
Union Traction
87
Alt & L V Elec 4Hs'33F-A
Am Gas & Elec 5s '07.F-A
5(1
Inter Sm Pow & Chem
*
353
86%
5
Am Rys 5s
Preferred
—
210
49
87
Prices
Central Coal & Coke
Preferred
ennsylvanla Salt
ennsylv&nla Steel
*4%
48%
5
49
86%
.
Milling.._.»1C|
Mining
Tonopah
*4%
*48%
PHILADELPHIA
Ask
245
Bonds
Inactive Stocks
""
5
49
Electric
46% J'ne 10
80% J'ne loj
7,030
22%
22%
?3
87
Huntington & B T
75% J'ne 10
4
J'ly 22
43
22%
49
Amer Rys pref
Cambria Iron
20
43
22%
4%
Bid
50
43
22%
86%
13% May 10
50
1
43
23
9
9% J'ne 10
Reading
43%
54% Jan
427g Feb 4
78
May 13!
J'ne 10
Phila R T vot tr ctfs
43%
22%
*49% Feb 24
53% Jan
9
12% Jan
9
70% J'ne 10
33
20% J'ne 10
56%
49%
11% J'ly 29
42% J'ne 10
25
56%
*22%
2
JuelO
Philadelphia Elects__
56%
84%
41
1,394
1,161
35
66%
23
2
37'. J'ne U
Lehigh Valley
50
Lehigh Valley Transit 50
Do
pref
50
Pennsylvania RR.:.. 50
Phiiadel Co (Pittsb).. 50
56%
Apr
130
49% Sep 23
J
150
Apr
25% Nov
72% J'ly
41% J'ly 19
J'ne
233
Jan
Jan
21
70% J'ne 10
225
May
Dec
Apr
,
8% Jan
14% J'ne11
81
21
117
118
Dec
18
56% J iy 28
J'ly 16
22
13
Highest
14
Lake Superior Corp
100
Leh C & Nav tr ctfs..: 50
•
78%
*34
35
*34
Telephone. 50
Keystone
20
780
86
56%
23
23
84% 85%
PHILADELPHIA
IIarwood
35
*34
35
56%
44%
4%
87
American
*21
22
49%
5
49%|
26%
*1238
26
80
84%
-•22%
12%
26
12%
26%
•85
♦21
66%
43%
*12%
12%
•28
21%
,
50
•12%
21%
;
*75%
76
12%
21%
1
10
80
•20%
79%
37
77%
*75%
Cambria Steel
923
*36%
37
*36%
20
*75%
76%
*76
86%
79%
'
49%
76%
12%
76%
79%
•85%
52%
1134
49
51%
51
49%
Cement
Railways._
American
13,065
*11%
50%
....
51%
*"""26
—
-m
"61~
39%
Previous
(1912)
LJwest
Philadelphia
•38%
Yearly
Jan. 1
Highest
114
Northern Central.
230
9S78 101%
101
50
Line_-.100
pref
Seaboard Air
19%
100% 100%
J-J
101
Do
90
00
J-J
Lowest
Pow.100
100
Houston Oil tr ctfs
100
Do
prof tr ctfs. 100
Con Gas El L &
106
111% 111%
17
*16
115
115
•18%
Ill
111
111% 111%
103%
100
Range for
below)
75
106% 111%
88
88
10034 Mch'13
M-S
4s_.1940 J-J
Inactive]
and.
Stocks see
Shares.
99»4 102
Apr 07
J-J
Range since
111
Sept.
17
•16
57%
57
68%
*57
57%
57%
101
Aug'13
Baltimore
111
111
111
111% •111
112% •111
*16
16%
10%
16%
16%
17
93
101
m
13
J'ly
active stocks
Week.
Friday
Thursday
Sopt 22
111% 111%
0912
90
23
Exchanges—Stock Record, Daily, Weekly,
Sales
Sept 20
•111
96
97
li
90
89
83
* No price Friday; latest bid and
0/the
Saturday
♦110%
94"" "97""
9314
67
Jan
102% 10J
....
4Hs
Wisconsin Cent 1st gen
12j
CENTUM PRICES
PRICBS—NOT PER
SHARE
101%
117% 125%
70% Dec
F-A
M-N
1914 (M-S
Gold debenture 4s
1916 M-N
"97"" 99%
Gold 4s
...1917 F-A
J-J
Western Teleph & Tel 5s.__1932.
122" 122"
Gold
122
m%
103
J-J
85%] Savannah Elec 1st cons 5s_.1952
Seattle Elec 1st g 5s
1930
1919
79i2 86% Shannon-Ariz 1st 6s g_;
1929
107
110M Terre Haute Elec g 5s
Torrington 1st g 5s
1918
Union Pac RR & id gr g 4s_1947
20-year conv 4s
1927
9212 98
United Fruit gen a f 4 >$s
1923
Debenture 4 Ms
1925
"95" "95
U S Steel Co 10-60-yr 5s Aprl968
West End Street Ry 4s
1915
"92" " "92"
98i4 1 003?
Philadelphia and Baltimore Stock
s
80
78
95
Aug'13
88
J-J
83
97
accrued Interest in addition to
NOTE.—Bayer pays
92
Apr 0
101
F-A
1932
1919
Elec Ry 1st 5s
Repub Valley 1st s f 6s
100% Aug'P.
92
J'ly '13
80>4 Sep *: 2
76
1940 M-N
1927 M-8
1933 A-O
1933 A-O
'Fremt Elk & Mo V 1st 6s
Unstamped 1st 6s__
92
J.
10984 111% Oct
110
ill
109
F-A
1923 J-D
Puget Sd
J'ly'13
97% Sep '11
95
Mch '13
92% VTch
F-A
1924
1922
Oreg Sh Line 1st g 6s
Pond Creek Coal 1st 6s
100
100
94
J-D
A-O
Dominion Coal 1st s f 5s
'Fitchburg 4s
9578
1077*113
75% 763s
90% 9012
1173a J'ly '13
J-J
1948
deb 6s
Colony gold 4s
Conv
8984
Old
May 12
91
91
...
Cudahy Pack (The) lstg 5 -1924 M-N
Current River 1st 5s__
..1926 A-CH
Det Gr Rap
99S4
90%
94%
75
74
J-J
(The) conv 5s
1934
J-J
H con deb 3^8.1956
N Y N H &
"95 " "98
J'ne'13
113% Feb
86
J-D
1946
Copper Range 1st 5s
107
106%
M-N
1920|
1949
Concord & Mont cons 4s
85%
.-.1932
5s
102
82
'07|
May 13
J'ly '13
98% Mch 13
98i8 Dec *12
83
J'ly *13
98%
99
84%
84%
105i2
5s„.1931
5s
1921
93%
9938
993s Apr '13
....
U
New River
100
98% Sale
4s_194C]
Ch & No Mich 1st gu
9934
99%
Gt Nor
89%|
f04% 10414'
J'ne'13
11103 Oct
Illinois D1t
Ch MIlw & Sfc P Dub D 6s
A-O
General Motors
1Q2
86
101
J'ne'13
i04% J7ne"l3
B & S W s f 4s
Coll trust refunding g
99
...
tt-N
19271
Nebraska Exten 4s
~2T
....
Boston & Maine 4 l^a
Plain •'s
i
No.
H igli
No
High
ASk Taw
1
Jan.
1st 5-yr 6s.1915
9478
9478 "l
J-J
9478 Sale
OB&Q coh tr 4s..1921
1
9434
04%|
94%
88% Sale
Registered 4s
1021
102%106
1033* Mch'13l
99
IOH4I Houston Elec 1st s f gen 5s.1925 A-O
117
Apr" 08
103%
10334 *16
!a Falls & Sioux O 1st 7s_._1917
92
Feb 13
91
89%J'n* 12
A-O
Kan O Clin & Spr 1st 5s___1925
104*" 104"
104
Sep *13
157%
107%
Kan C Ft Scott & Mem 6s
1928 :;Si-N 1088s 110% 763g Jan 13
93
98
95'8 Aug'13
A-O
94% 95
KCPtS&M Ry reC 4s gu-193C
86
87
875s Nov 12
90% Feb '13
Kan C M & B gen 4s
1934 a/i- s
80
84% "85*%
Sep '13
8414 Aug'13
79
Assented income 5s
1934 ffli-s
97
97
97
97
97
Sale
A-O
"95% "96121 97 J'ly '13
Kan C & M Ry & Br 1st 5s. 1929
115
J'ne 08
1108a Mch 11
A-O
100%101
Marq Hough & Ont 1st Cs_.1925
59" "67
65
65i2
95%
93
J-J
95% Sale
Mass Gas 4^s.
.1929
50 ' 85
96
96
50
Mayi3
96
J-J
Deben 4 Ha
Dec 1931
97
Aug'13
05% Feb '12
J-J
Mich Telephone 1st 5s
1917
90
~90" 90% 90
100t4 Mch '09
F-A
New Eng Cotton Yarn 5s..1920
1041* Oct '08
101
Apr IS
98
New Eng Teleph 5s_,
1915 A-O
95 'Feb 12
102
A-O 10178 Sale 10134
1028^
Convertible 4s
—
..1036
1933] J
20-year oonv 4
Am Writ Paper 1st si* 5s g
101 Of
H ton
Low
High
99*4 Apr '13
88
88%
A»k Low
Bid
Stnce
or
ImsI Sale
Sept. 26
Bia
>tii Agricul Ohem 1st 5s
Telep & Tel ~oil tr 4s
Ranoe
Friday
BOSTON STOCK EXCHANGE
Week Ending Sept. 26.
Hangs
Week'»
Price
BONDS
Range
LIONDS
877
Record
Boston Bond
1913.]
sept. 27
M-S
M-S
'32.J-J
Fund debt 2-3s 1991 J-J
103
Va (State) 3s new
Ida"
West If C con Gs 1914.J-J
Wil & Weld 5s 1035...J-J
87
87%
87
99%| 100 "
102%
102%
107%
102
43%
81%
"79"
101
102
"97%
98%
95
69
96
92
88
j
"97%
100
104
104
ioo"%
104%I
85
1*02%
103%
102
89
83
63
88
107%]
100
100
101
82
iod
104
83%
63%
878
THE
CHRONICLE
[Vol.
xcvii.
Ittuestmeixt and Railroad
Itttelliqeuce.
RAILROAD
GROSS
EARNINGS.
The following table shows
the gross earnings of
every STEAM railroad from which
be obtained.
regular weekly or monthly returns
The first two columns of
figures give the gross earnings for the latest week or
colums the
month, and the last two
earnings for the period from July 1 to and
including the latest week or month, .We add a
statement to show the fiscal
supplementary
year totals of those roads whose fiscal
year does not begin with
July, but covers some other
period.
The returns of the electric
can
railways
Latest Gross
ROADS.
Week
or
brought together^separately
Previous
Current
Year.
Year.
67,000
1st wk
9,443,154 8,878,271
155,063
149,008
214,474
234,944
July
1,092,177 1,028,428
August
111,833
93,476
July
4,276,433 4,207,884
3d wk Sept
259,716
229,181
July
209,936
178,677
3d wk Sep
488,200
390,200
3d wk Sept 2,769,000
2,549,000
July
1,005,290 1,128,625
July
2,804,080 2.813.906
July
276,704
303,506
July
369.932
360,260
3d wk Sep
748,514
738,269
2d wk Sept
310,268
312,282
July
7,754,559 7,295,923
2d wk Sep
368.933
308,869
3d wk Sep
141,436
151,462
July
7,740,518 7,393,547
784,475
ROADS.
Birmingham Southis alne
Buff Roch & PittsbBuffalo & Susq
Canadian Northern.
Canadian
Pacific.
Central of Georgiaof New Jersey
Cent New EnglandCentral V ermont
-
Cent
-
_
Ches & Ohio Lines.
Chicago & Alton.—
Chic Burl &
Quincy
Chic Great WestChic Ind &
Louis,
Chic Milw & St P.
\
Chic Mil & I
ugfcjj
rChic & North West
August
Chic St Paul M&0_
August
Chic Terre H'&SE June
Cin Ham & Dayton
p
Week
Earnings.
Previous
Year.
Year.
8,409,803 8,140,192 15,893,582 14,890,109
1,523,734 1,481,330 2,959,118 2,774,327
142,830
127.873
1,929,552
1,827,361
August
969,432
971,818
1,852,025
1,847,878
Colorado Midland- July
127,516
133,091
127,516
133,091
6 Colorado & South
3d wk Sep
313,366
309,102
3,486,665 3,160,476
Cornwall
July
17,637
19,737
17,637
19,737
Cornwall & Leban__ July
31,510
38,248
31,510
38,248
Cuba Railroad
July
324,187
334,393
324,187
334,393
Delaware & Hudson June
1,953,503 2,275,294 23,999,532 21,142,929
Del Lack & West..
July
3,549,593 3,334,456 3,549,593 3,334,456
Denv & Rio Grande 3d wk
Sep
554,300
553,300
5,905,011
5,907,138
Western Pacific.
3d wk Sep
155,500
140,000
1,639,272
1,474,666
Denver & Salt Lake 2d wk
Sept
29,805
27,886
355.402
307,140
Detroit Tol & Iront July
135,953
125,371
135,953
125,371
Detroit & Mackinac 2d wk
Sept
23,565
26,964
273,829
266,669
Dul& Iron Range.
June
1,052,769
953,235 7,121,719 6.684,438
Dul Sou Shore & Atl 2d wk
Sep
72,242
67,982
810,717
767,036
Elgin Joliet & East- July
1,101,274 1,125,002
1,101,274 1.125.002
El Paso & Sou
West July
701,971
666,989
701,971
666,989
Erie
July
5,538,223 5,381,558 5,538,223 5,381,558
Fonda Johns & Glov August
102,785
101,568
201,673
200,356
Florida East Coast- July
287,153
260,156
287,153
260,156
Georgia Railroad-_ July
229,057
249,932
229,057
249,932
Grand Trunk Pac__ 1st wk
Sep
104,343
1,090,098
Grand Trunk Syst_ 3d wk
Sep 1,134,021 1,101" 588 13,574,452
12,902", 842
Grand Trk West- 2d wk
Sep
137,459
138,194
1,538,605
1,452,180
Det Gr Hav &. M 2d wk Sep
00,797
51,979
522,833
496,269
Canada Atlantic. 2d wk Sep
49,639
50,388
547,060
500,659
Great North System August
6.725.663 6,904,866 14,241,390
13,373,787,
Gulf & Ship Island. June
180,725
154,587
2,110,542
1,982,323
Hocking Valley
July
704,015
690,036
704,015
690,036
Illinois Central
August
5,664,918 5,586,528 11,022,826 10,683,533
Internat & Grt Nor 2d wk Sep
245,000
249,000 2,127,029 2,213,268
a Interoceanic
Mex 3d wk Sep
155,347
149,577
1,919,055 1,995,801
Kanawha & Mich__ July
303,716
296,581
303,716
296,581
Kansas City Sou
August
915,550
935,750
1,729,433
1.769.548
Lehigh Valley
August
3,672,296 3,999,841
7.119.997 7,533,548
Louisiana & Arkan. July
143,543
146,102
•143,543
146,102
s Louisv &
Nashv_. 2d wk Sep 1,203,950 1,170,905
12,343,479 11,687,918
Macon & Birm'ham August
11,970
12,415
22,200
27,154
Maine Central
July
998,782
961,129
998,782
961,129
Maryland & Penna. August
49,011
47,464
93,191
85,311
a Mexican
Railways 2d wk Sep
199,300
178,400 2,126,000 1,800,200
Mineral Range
2d wk Sep
5,956
15,103
93,753
172,213
Minn & St Louis..
\ 2d wk Sep
224,845
224,724 2.011,843 2,005,672
Iowa Central
'
-
_
,
_
_
N YOnt& West...
July
S
987,904
292,018
255,972
3,845,727
977,781
291,630
253,698
3,579,850
5.750.356
6.072.500 5,750,356 6,072,500
423,537
388,°89
423,537
388,089
728,592
702,758
728,592
702,758
15937780 14666735 15.937.780
14,666,735
45,578
40,211
45,578
40,211
287,202
261,319 "287,202
261,319
1,507,267 1,317,S64
1,507,267
1.317,864
18,643
18,360
18,643
18,360
412,562
354,911
412,562
354,911
1,111,715 1,062,911
1,111,715 1,062,911
1,786,010 1,819,920 1,786,010 1,819,920
835,6861
844,014
835,686
844,014
6,213,635| 5,994,820 6,213,635 5,994,820
497.594
468,898
497,594
468,898
3,815,486' 3,608,011 3,815,486 3,608,011
980,884
881.364
980,884
881,364
•
July
July
July
July
a
977,781
291,630
253,698
__
All East &Wost
Previous
Year.
3,845,727 3,579,850
Susq & West.. July
July
Norfolk & Western- July..
Northern Pacific
July
Northwestern Pac. July
Pacific Coast Co
July
Pennsylvania RR-. July
Bait Ches & Atl. July
Cumberland Vail July
Long Island
July
Maryl'd Del & Va July
N Y Phila & Norf
July
Northern Central July
Phil Bait & Wash
July
W Jersey & Seash
July
Pennsylvania Co
July
Grand Rap & Ind July
Pitts C O & St L. July
Vandalia
July...
Total Lines._
East Pi tts & E
West Pitts & E
to Latest Date.
Current
Year.
s
987,904
292,018
255,972
N Y
Norfolk Southern
July 1
*
Current
or
Month.
689.006
18,281,964 16,931,156
155,063
149,008
214,474
234,944
1,092,177
1,028.428
230,623
178,768
4,276,433
4,207,884
2,945,876
2,687,478
209,936
178,677
5,022,200 4,720,400
30,782,062 31,803,398
1,005,290
1,128,625
2,804,080
2.813.906
276,704
303,506
369,932
360,260
8,097,973
8,059,593
3,373.103
3,225,209
7,754,559 7,295,923
3,131,393
2,898,738
1,668,228
1,622,833
7,740,518 7.393.547
B&OChTer RR July
page.
%
51,000
Bangor & Aroostook July
Boston &
subsequent
Latest Gross
Previous
Year.
Sep
28,000
26,000
329,768
327,310
Vicks Shrev & Pac 1st wk
Sep
27,000
26,000
327,404
304,526
Ann Arbor
2d wk Sept
45,751
42,999
507,044
485,699
Atch Top & S Pe
August
9,731,956 9,630,813 18,874,942 18,590,783
Atlanta Birm & Atl
July
261,966
247,301
261,966
247,301
Atlantic Coast Line
July
2,457,152 2,467,757 2,457,152 2,467,757
Obarlest & W Car July
146,460
128,116
146,460
128,116
Lou Hend & St L
July
108,720
87,433
108,720
87,433
g Baltimore & Ohio. August
Bessemer & Lake E
on a
Date.
Year.
Ala N O & Teat PacN O & Nor East- 1st wk
Sep
Vicksburg.
are
July 1 to Dates
Current
Mon'h.
Ala &
Earnings.
...
Pere Marquette
Reading Co—
Phila & Reading. July
23382708 21973665 23,382,708
21,973,665
11719781 11133771 11.719.781
11,133,771
35102489 33107436 35,102 ,'489
33,107,436
1,365,923 1,405,530
1,365,923
1,405,530
4,021,040 3,984.168 4,021,040 3,984,168
Coal & Iron Co__ July
2,062,207 3,003,596
2,062,207 3,003,596
Total both cos... July
6,083,247 6,987,764
6,083,247 6,987.764
Rich Fred & Potom
July—;
234,396
237,616
234,396
237,616
Rio Grande June
June
73,312
82,159
1,097,532
990,397
Rio Grande South.
2d wk Sept
12,869
14,062
137,262
130,994
Rock Island Lines.
July
5,793,706 5,717,883 5,793,706
5,717,883
Rutland
July
347,792
328,314
347,792
328,314
St Jos & Grand Isl'd
July
175,158
144,262
175,158
144,262
St L Iron Mtn & So
July
2,670.768 2,840,346 2,670,768 2,840,346
St L Rocky Mt & P
May
199,178
153,234 2,083,565 1.819.138
St Louis & San Fran
July.
3,929,517 3,470,982 3,929,517 3,470,982
f Chic &
East Ill- July
1,367,572 1,301,928
1,367,572
1.301.928
Total all lines
July
5,297,089 4,772,910 5,297,089 4,772,910
St Louis
Southwest. 3d wk Sep
269,000
267,000
2,916,600 2,930,997
San Ped LA&SL, June
941,128
891,086 10,238,050 9,124,474
Seaboard Air Line.. 2d wk
Sept
425,141
409,107
4,481,006 4,366,948
Southern Pacific
August
12254090 12447187 24,015,101
24,209,578
Southern Railway
2d wk Sep 1,275,365
1,251,135 13,600,$56 13,636,751
Mobile & Ohio.
2d wk Sept
251,911
221,046
2,567,303 2,384,332
CinNO & Tex P 2d wk
Sept
221,710
189,790
2,091,700
1,988,063
Ala Great South- 2d wk
Sept
93,827
88,398
1,055,046
964,221
Georgia So & Fla. 2d wk Sept
53,652
46,099
487,319
481,382
Spok Portl & Seatt. July
467,475
454,846
467,475
454,846
Tenn Ala & Georgia 2d wk
Sep
1,859
2,433
20,642
28,010
Tennessee Central. July
148,398
125,703
148,398
125,703
Texas & Pacific
3d wk Sep
351,505
342,859 3,832,232 3.613.929
Tidewater & West. July
7,604
9,967
7,604
9,967
Toledo Peor & West 2d wk
Sept
24,187
27,401i
272,798
279,825
Toledo St L & West 2d wk
Sept
100,607
91,258
1,009,354
829,075
Union Pacific Syst. August
8.441.501 8,451,437 16,264,110 16,270,021
Virginia & So West. July
154,642
145,727
154,642
145,727
Virginian
July
497,394
403,882
497,394
403,882
Wabash
August
2,847,579 2,937,189 5,585,395 5,487,200
Western Maryland- July
727,776
570,982
727,776
570,982
Wheel & Lake Erie. June
765,696
706,361 7.831,948 7,498,146
Wrightsv & Tonnille July
20,144
16,565
20,144
16,565
Yazoo & Miss Vail.
August
873,198
758,829 1,681,025 1,484,993
_
.
.....
'
...
...
...
Current
Year.
...
Various Fiscal Years.
Period.
Previous
Year.
.....
'
)
Minn StP & SSM\
Chicago Division J
Mississippi Central.
u Mo Kan & Texas.
x Missouri Pacific.
Nashv Chath& St L
3d
wk
Sep
689,994
654,981
7.259.998
6.787.003
July
90.341
83,287
90,341
83,287
Sep
681,807
685,040 7,400,431 6,898,462
3d wk Sept 1,235,000 1,275,000
14,010,765 14,507,640
July
1.027,198 1,044,196
1,027,198 1,044,196
a Nat
Rys of Mex_( 3d wk Sep
668.002 1,315,171
7,499,964 14,299,811
Nevada-Cal-Oregon 2d wk Sept
9,469
10,503
92,330
110,230
N O Mobile & Chic. June
166,074
175,847 2,490,052
2,002,728
New Orl Great Nor_ July
166,103
147,686
166,103
147,686
eNYO & Hud Riv. July...
10104811 9.265.907 10,104.811
9.265.907
Lake Shore & M S July
4.960.827 4,444,170 4.960,827
4,444,170
•.
n Lake Erie & W_
July
495,638
459.756
495,638
459,756
Chic Ind & South July
320.994
305,947
320,994
305.947
Michigan Central July
2,966.087 2.699.237
2,966,087 2.699,237
Clev O C & St L_ July
3.002.283 2,602,070 3,002,283
2,602.070
Peoria & Eastern July......
263.737
263,237
263,737
263,237
Cincinnati North July
112,966
107,453
112,966
107,453
Pitts & Lakfe Erie July
1,742.129 1,667,265
1,742,129 1,667,265
N Y Chic & St L.
July
952,877
861,342
952,877
861,342
Tol;& Ofyio Cent. July
586,886
483,858
586,886
483,858
Tot all lines above July
25509235 23160241 25,509.235
23,160,241
N Y N H & Hartf.
July
5,778,278 5,753,765 5,778,278
5,753.765
3d
-
wk
_
.
...
•
..
...
...
Delaware & Hudson
Jan
N Y Central & Hudson River.c. Jan
Lake Shore & Michigan South Jan
Lake Erie & Western.n
Jan
Chicago Indiana
& Southern
to
to
to
to
Jan
to
Michigan Central
Jan
Cleve Cin Chic & St Louis... Jan
Peoria & Eastern.
Jan
to
.
to
to
Cincinnati Northern—
Jan
Pittsburgh & Lake Erie
Jan
New York Chicago & St Louis Jan
Toledo & Ohio Central.;
Jan
Total all lines
Jan
Pennsylvania
to
to
to
to
to
Railroad,
Jan
Baltimore
Chesap & Atlantic- Jan
Cumberland Valley
Jan
to
.—
to
to
Long Island
Jan
Maryland Delaw & Virginia.. Jan
N Y Philadelphia & Norfolk— Jan
to
Northern Central
Jan
to
Philadelphia Bait & Was a— Jan
West Jersey & Seashore
Jan
Jan
Pennsylvania Company
Grand Rapids & Indiana...
Jan
to
Pitts Cincin Ohiq & St Louis. Jan
VsndSili^
Jan
Toted lines—East Pitts & Erie Jan
to
—West Pitts& Erie Jan
to
—All lines E'& W. Jan
to
Rio
Grande
Junction—
to
to
to
to
to
to
to
Dec
Rutland
31 33,995,181 29,490,089
31
3,371,894 3,113,316
31
2,518,422 2,331,737
31 20,671,224 17,936,629
31 18,966,160 17,296.885
31
1,908,815
1,769,684
31
727,997
31 11,690,954
31
7,077,054
31
31
31
31
31
31
31
31
3,315,655
170210409
105191200
174,402
2.051,593
6,880,561
78.960
2,324,016
31
7,612,544
12,112,288
3,482,403
31 37,336,285
31
3.077,115
31 24,980,684
31
31
31
31
6,256,288
148060049
31 73,049,583
31 221109632
June 30
525,497
to
Jan
_
June 30 11,691,472 10,109,012
31 65,967,048 59;737,780
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
.July
July
July
July
July
to
July
31
724,207'
9,737,701
6,588,613
2,902,913
151629554
96,696,849
152,884
1,795,623
6.235,931
67,248
2,051,056
7.073,513
11,322,517
3,534,851
33.494,543
2.964,616
23,866,392
5,701,072
136890669
67,274,200
204164869
506,031
2,059,538
1,945,601
AGGREGATES OF GROSS
EARNINGS—Weekly and Monthly.
Weekly Summaries.
list
week
July
2d
week July
3d week July
4th week July
fist week Aug
2d week Aug
3d week Aug
:
•
4th week Aug
1st week Sept
(41 roads
(41 roads)
(39 roads)
(36 roads)
(41
(41
roads)
roads)
(42 roads)
(40 roads)
(41
Current
Year.
Previous
Year.
Increase
or
Decrease.
Current
%
$
13,547.151
14,055.757
14,503,441
21.077.101
14,350,345
14,798,702
15,662,277
20,699,831
14,441,753
13,206,284
13,955,741
14,292,486
21,220,128
14,789,903
15,163,178
15.866.404
22,219.247
15,102,112
15,656,692
+250,967
+100,016
+210,955
—143,027
—439,558
—364,476
—204,127
—1,519,416
—660,359
—554,950
Monthly Summaries.
Mileage.
1.90
0.72
1.48
0.68
2.22
2.40
1.29
6.84
4.37
3.52
November
Cur. Yr.
237,376
December—238,072
January
235,607
February
240,986
March
240,510
April
240,740
May
239.445
June
230.074
Year.
Previous
Year.
Increase or
Decrease.
%
Prev. Yr.
233,305
234,146
232,179
237,756
237.295
236,515
236.619
227,242
203.773
88,201
276,430,016
263.768,603
246,663,737
232,726,241
249,230,551
245,170,143
263,496,033
244,461,845 +31,968.171 13.07
234,087,361
208,535,060
218.336.929
238,634.712
220,981.373
232.879,970
259,703,994 242,830,546
235.849.764 223,813.526
77,975,309 77,903,639
+29,681,242
+38,128,677
14,389,312
+10,595,839
+24.188,770
+30.616,063
+ 16,873,448
+12,036.238
+71,670
+
12.68
18.28
6.59
4.46
10.90
13.14
roads)
6.95
July
206.084
(41 roads)
15,101,742
5.38
August
90,217
0.09
Mexican currency,
b Does not include earnings of Colorado
Springs & Cripple Creek District Railway from Nov, 1 1911,
ton & Albany, the New York &
»Includes the Bos¬
Ottawa, the St. Lawrence & Adirondack
and the Ottawa & New York Railway, the latter of
road, does not make returns to the InterrState
which, being a Canadian
Commerce Commission.
/Includes Evansville & Terre Haute and Evansville &
cludes the Cleveland Lorain &
Indiana RR.
Wheeling Ry. in both years,
q In¬
n Includes the Northern Onio
RR.
p Includes earnings of Mason
Wisconsin Minnesota & Pacific,
s Includes Louisville &
City & Ft. Dodge and
Atlantic and the Frankfort & Cincinnati,
t Includes the Mexican
the Texas Central in both years and the
Wichita Falls Lines in
International,
u Includes
1912, beginning Nov. 1. v Includes not only operating
receipts,
x Includes St. Louis Iron Mountain &
revenues, but also all other
Southern.
2d
week Sept
-
a
*
-
SEPT. 27
THE
1913.]
CHRONICLE
Net Earnings—
—Gross Earnings
the table which
Latest Gross Earnings by Weeks.—In
follows
of
we sum
up
The table covers 41 roads and shows 3.52%
under the same week last year.
September.
Current
decrease in the aggregate
Union
93,827
45,751
278,843
398,000
2,462,000
737,425
310,268
368,933
_
Canadian Pacific
*
Chesapeake & Ohio___
Chicago & Alton
Chicago Great Western
Chicago Ind & Louisville.
,
_
Cine New Orl & Texas Pacific..
&
Colorado
Southern
Denver & Salt Lake
_
Denver & Rio Grande
"
152,827
221,710
306,135
29,805
561,100
133,100
23,565
72,242
53,652
1,110,514
.
Arbor
Buffalo Rochester & Pittsburgh
Canadian Northern
!
Western Pacific
Detroit & Mackinac
Duluth South Shore & Atl
July
33,581
29,696
7,555
Orient.b—-July
87,183
80,801
11,368
I,104
City South.b—.Aug
July 1 to Aug 31
915,550
1,729,433
935,750
1,769,548
378,458
662,182
383,902
666,847
Georgia Southern & Florida
Grand Trunk of Canada.,
205,000
35,298
~2,014
Atlantic
Internat & Gt Northern
Interoceanic of Mexico...—
Louisville & Nashville
1
Central
4,100
""755
3",399
"
,265
Missouri Kansas & Texas..
Missouri Pacific
...
54,577
Lehigh & New Eng.b--July
137,246
127,830
53,005
62,202
Western.bT_-July
176,025
168,735
41,056
66,619
Co of St Lib.-July
30,436
25,422
12,968
12,075
29,230
25,060
17,419
17,057
Maryland & Penna.b—July
44,180
37,847
7,251
Internat.b.July
95,155
62,239
34,229
17,990
110,400
91,459
16,992
def4,309
8,300
7,483
33,616
48,642
16,812
20,801
Minnesota &
Missouri & No Arkan.b.July
10.204
25,184
23,643
332,433
324,871
52,657
49,580
RR.b-July
166,103
147,686
Mex RR bJuly
122,981
103,696
35,134
27,626
"5,753,765
1,893,618
2,262,891
33,045
224,724
121
"9", 147
"
254,000
425,141
Railway
570",421
1,034
1,733
14,602
248,000
409,107
'
Tennessee Alabama & Georgia-
30,865
221,046
6,000
16,034
24,230
1,251,135
2,433
1,275,365
1,859
339,542
24,187
100,607
Toledo Peoria & Western
Toledo St Louis & Western
New Or Tex &
N Y N II &
Hartford.b-July 5,778,278
57,295
72,667
423,536
388,088
203,959
169,732
1,877,100
755,807
1,016,513
July
183,590
182,047
50,283
37,019
Pennsylvania Term -b-July
41,454
34,042
17,481
10,420
Peoria & Pekin Union b.July
72,639
71,983
12,591
II,635
-July
54,306
63,997
29,537
41,981
Pecos & Northern Tex b
Perkiomen
RR.b
Cy«&N W_b_ July
Pierre Rap
27,471
23,269
1,209
4,464
July
92,683
109*600
51,277
61,897
Reading.b--
20.423
Ray & Gila Valley_b_—July
34,767
27,527
24,460
Reading & Columbia.b.July
574
33,755
31,848
8,508
9,497
18,826
228,917
def 14,132
def36,650
16,115
17,787
"9~, 349
388,455
■
Oregon Short Line.b—July 1,822,322
Port
5,317
334,225
27,401
91,258
15,101,742 15,656,692
.
New Orl Gt Nor
>
Northwestern Pacific.b.July
34,705
16,801
66,000
1,236,083
10,503
Rio Grande Southern..
—
23,024
Montpelier & Wells R.b.July
718,672
645,827
1,280,000
Seaboard Air Line..
N evada-California-Oregon
Southern
162,201
Morgan's La & Texas RR
& Steamship Co.b—July
4,000
21,263
683,967
629,026
1,214,000
251,911
St Louis Southwestern
Railways'cf Mexico..
Texas & Pacific
1,328,681
2,460,871
152,495
-
7,553
161,610
1,170,905
15,103
665,662
9,469
12,869
National
1,480,439
2,880,735
3,999,841
7,533,548
Ry & Nav.b-July
Lehigh Valley.b
July 1 to Aug 31
34,342
J
.
11,456
Manitou & Pike's Pk_b-July
249,000
245,000
140,347
1,203,950
5,956
224,845
Minneapolis St Paul & S S M
Mobile & Ohio
Aug 3,672,296
7,119,997
•"
Munising Marq & S E b July
Minneapolis & St. Louis.
.i.
68,123
8,310
10,131
36,131
Mfrs Ry
_J
Mineral Rgnge.
Iowa
16,506
113,637
Louisiana
6,494
31,920
3,401
1,919
\
Detroit Gr Hav & Milw
21,738
Ishpem.b.July
Louisiana
60,564
)
Grand Trunk Western
Canada
Moriah.b.July
Lake Super &
2,752
49,662
19,700
4
12,100
def 1,548
Lake Cham &
5,429
88,398
42,999
229,181
378,300
2,667,000
702,127
312,282
308,869
146,333
189,790
302,734
27,886
565,200
132,400
26,964
67,982
46,099
1,144,856
Alabama Great Southern
9,882
of
Kansas
.
Ann
Co.
Ltd.b.
Decrease.
Increase.
1912.
1913.
September.
Yards
Stock
$
33,722
34,879
Springf.b_.July
K C Clin &
Omaha,
of
Year*
$
Previous
Year.
Current
Year.
$
K C Mex &
week
Second,
Previous
Year.,
Roads.
separately the earnings for the second week
879
,
3",214
56,093
41,466
664,179
510,271
Rio Grande South'n.b-June
July 1 to June 30
Clair Tunnel-p
Net
Monthly to Latest
Earnings
943,405
554,950
Dates.—The table
and net earnings of STEAM rail¬
following shows the
gross
roads and industrial
companies reported this week:
Roads.
Year.
t,
Year.
Year.
Year.
$
$"■
$
.
78,114
87,262
35,586
51,979
July
372,812
320,546
171,307
147,163
..July
229,750
197,512
91,726
107,722
9,630,813 J3,288,257
Fe.b.Aug 9,731,956
July 1 to Aug 23——
18,874,941 18,590,783 ;6,147,300
;3,362,010
;6,075,081
Arizona & New Mex.b.July
Atlantic
City.b.
Arizona Eastern_b
Atch Top & Santa
—
Atlanta Birm & Atl.b.-July
261,966
247,301
38,931
13,563
Atlantic & St Lawr.b-.July
111,773
106,498
def2,554
5,340
97,345
93,069
14,425
18,300
155,063
149,008
Atlanta & West Pdint.b. July
B & O—Chic Term'l.b.July
Beaum Sour
Bellefonte
Jan
1
—
L&W.b-July
Central.b—-Aug
Aug 31—'—
•
50,818
43,659
O'Fallon.b—July
.22,703
16,180
12,348
8,824
27,63 7
23,531
8,148
11,781
Pass.b—July
388,622
381,402
58,433
82,320
SE.b—-July
28,724
36,119
defl,177
10,078
17,223
San Ant & Ark
Cal.b-July
36,831
38,685
15,981
Southern Kan of Tex.b.July
88,758
101,883
26,645
31,731
Augl2,254,090 12,447,187
July 1 to Aug 31-.
24,015,101 24,209,578
3,811,407
7,228,475
4,786,499
8,989,750
Sierra Ry Co of
Southern
Pacific.a
Spokane
Internat_b^—July
.97,833
"" 100,124
40,152
42.424
Spok Portl & Seattle.b-July
467,475
454,845
50,548
234,309
248,721
61,237
25,770
46,106
4,374
7,180
Sullivan County.b
-July
49.248
Rylb—...
..July
50,830
Gulf b-
July
-26,857
29,507
24,136
25,235
Texas Midland.b—— July
59,892
1,401
9,037
102,765
42,286
15,647
68,813
def34,066
72,957
1,745,800
3,575,500
-July
40,269
35,442
7,912
Caro Clinch & Ohio.b-July
223,061
186,159
131,240
Catasauqua & Fogelsv b July
24,060
19,259
14,634
9,857
--
214,247
22,736
3,835,393
7,204,841<
497,360
486,034
44,95i
49,356
8,902
Virginia &, Truckee_b—July
23,092
27,344
6,168
5,269
Wabash Pitts Term.b—July
90,366
68,147
22,595
14,632
Valley.b
96,394
12,618
10,199
-July
60,545
53,819
28,120
30,173
July
53,577
39,278
17,939
9,326
Wyoming & Northw.b.July
37,337"
27,947
19,377
13,259
West Side Belt.b
104,412
Wichita Valley.b-
INDUSTRIAL COMPANIES.
865,400
—Gross Earnings
Current
Previous
8,636
276,704
303,505
120,122
74,927
67,105
10,337
171,230
162,106
8,140^92
14,890,109
57,409
1,481,330
2,774,327
313,643
626,889
355,913
658,679
969,432
1,852,025
971,818
1,847,878
169,191
2,009,307
243,225
2,508,068
Cin Leb & Northern.b._July
55,325
40,143
16,010
13.755
Coal & Coke Ry_b_ —-July
90,247
87,755
21,081
Chic St Paul M & O.a-Aug
July 1 to Aug 31
Cin Ham & Dayton.b—Aug
July 1 to Aug 31
,
•;
-
28,863
127,516
133,091
def24,547
def 19.972
Colorado & Southern.b.Aug
July 1 to Aug 31---.-
1,371,634
2,575,990
1,223,248
2,272,144
435,313
750,616
390,749
697,113
Colorado & Wyoming b July
72,569
71,430
'27,347
26,706
Copper Range.b;
58,873
75,304
23,357
1,262,421
July, 3,549,593
3,334,456
33,709
30,770
9,377
207,212
185,625
52,255
35,982
29,865
10,628
RR&CbJuly
27,729
22,588
16,022
114,330
112,973
50,938
Coast.b..July
287,153
260,156
def7,698
2,274
411,742
365,758
88,766
130,061
27,761
19,106
8,614
def2,819
Galveston Wharf Co_b—July
32,911
33,457
9,252
2,844
Georgetown & West.b—July
24,975
26,999
7,967
2,199
Georgia & Florida.b—July
63,456
65,241
Gettysb & Harrisburg b July
36,716
22,082
7,039
3,030
572,620
152,616
26,809
344,974
17,249
356,038
107,478
1,220,463
57,540
595,565
53,316
602,057
92,525
86,005
1,253,865
1,132,462
46,160
626,157
39,173
560,053
25,744
1
Elec.a-Aug
to Aug 31-—'
1
to Aug 31
Aug
32,824
Aug
12,117
15,989
19,315
16.729
9,497
6,359
82,954
66.024
59,858
42,415
Pennsylvania Lighting. .Aug
Jan 1 to Aug 31
11,309
88,332
9,951
77,425
7,222
55,320
34,031
293,425
28,440
263,685
17,645
149,712
12,627
120,243
65,996
580,496
60,215
512,026
40,626
345,426
33,596
273,981
Aug
183,878
2,126,854
1,812,456
86,412
946,318
69,901
809.362
Ft Worth Pow & Lt.a.Aug
57,807
597,627
43,138
474,770
35,824
19,419
223,452
92,030
1,064,897
83,456
920,386
33,424
403,137
33,299
389,043
23,465
200,794
19,738
161,952
11,352
94,499
7,186
74,686
Rockford Electric
Jan
Jan
Aug
1 to Aug 31-
Scranton
Electric
1
to
"
—
Aug
Aug 31
-
,
6,042
45,229
Southwestern Power & Light
(subsidiary cos).a
Sep 1 to Aug 31
Sep
1
to Aug 31-
Texas Power & Lt.a-.Aug
Sep
1 to Aug 31
Wheeling Electric
Jan 1 to Aug 31
122,570
July
179,363
2,330,303
North Cal Pow Co, Con.Aug
51,271
Ft W & Denv City.b.-July
217,291
2,517,492
Canton Elect
13,235
Cripple Crk bJuly
417,445
5,211,760
Marion Lt & Heating
5,902
East Broad Top
$
459,635
5,624,280
57,163
1,021,361
Sep
def 16,539
Dunk All Vail & Pitts b July
Year.
Portl Gas & Coke, a--Aug
8,308
Detroit Gr H & Milw.b.July
Light
Aug
111,037
1,247,945
,
Des Moines Union_b_—July
&
70,389.
976,308
Sep
32,069
1,244,141
Previous
Pacific Power & Lt.a.Aug
Sep 1 to Aug 31
Kansas Gas &
Colorado Midland.b_.-July
-—July
Power
(subsidiary cos) ^a
Sep 1 to Aug 31
2,876,645
4,703,727
1,523,734.
2,959,118
American
62,245
2,705,887
4,525,734
8,409,803
July 1 to Aug 31——.15,893.582
North West.a-Aug
Earnings
Year.
$
def33,379
Chicago Junction-b—-July
Net
Current
Year.
Year.
Companies.
154,^27
Chic Det& Can GrTJb July
Hen.b
3,252.748
5,950,359
"
Central New England b-July
Gal Hous &
8,441,50i
8,451,437
16,264,110 16,270,021
July
106,226
Florida East
11,285
190,061
370.800
408,600
922,900
1,824,800
Florence &
1,017
-
def 21,325
'22,362
3,753,600
Canadian Northern.. ...Aug
Del Lack & West.b
6,125
59,680
Western Ry of Ala.b—July
121,585
Can P Lines in Maine.b. July
Chic &
-Aug
1,258
11,676
" 2,156,768
Pac.b.July
Carolina & N W.b
Pacific.b
July 1 to Aug 31
7,189
Union RR (Penn).b——July
Vermont
8,245
1,084,384
July 1 to Aug 31
&
Texas Mexican
23,058
343,704
628,102
'
Ry.b—July
Texas
4,085
8,578
19,805
16,860
1
Sunset
Union
361,566
687,545
'
Salt Lake & Los Ang.b.July
St Louis &
2,867,251
5,259,661
*
,
210,112
46,085
40,879
1,047,435
1,940,654
22,077
Buff Roch & Pittsb.b-Aug
Butte Anacon &
7,083
191,535
6,904
49,229
7,067
54,839
Boyne C Gay & Alp.b—July
July 1 to Aug 31..
7,621
62,528
45,242
to
25,336
29,420
St Johnsbury
3,048,778
5.741,586
8,878,271
.18,281,964 16,931,156
Baltimore & Ohio.b—-Aug 9,443,154
July 1 to Aug 31—
27,402
32,933
St
San Diego &
-Net EarningsPrevious
Current
-Gross EarningsPrevious
Current
July
& L Ch b.July
St L Browns & Mex.b-.July
Total (41 roads)
Net decrease (3.52%).
Aug
165,105
339,,812
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
j For August taxes amounted to $447,262, against $382,456 in 1912; after
deducting which, net for Aug. 1913 was $2,840,995, against $2,979,554 last
'
Grd Trunk Western.b._July
632,194
241
5,375
Northern.b——July 7,515,727
6,468,921
3,496.391
981,907
219,615
#
25,068
26,818
def 1,079
3,803
57,592
66,546
15,427
Illinois Southern-b—— -July
52,239
47,027
14,252
9,787
JonesboroLakeC & E.b.July
23,175
20,054
9,872
9,017
Idaho & Wash North.b-July
,
and Surplus.
■—Int.,, Rentals, Ac.— —Bal. of Net Earns.—'
Current
Bellefonte Central. -1
Jan 1 to Aug 31
Aug
Current
Previous
Year.
Year.
Year,
$
Roads.
Previous
Year.
21,407
Gulf&Int-State ofTex.b.July
"
Interest Charges
272,074
Great
-
1
2,646,790
GulfColo&SanteFe. b-July 1,102,342
Sear. From July 1 to Aug. 31 taxes were $875,721 in 1913, against $763,348
1912.
$
„
$
240
244
1,920
1,952
1,018
9,756
7,085
830
CHRONICLE
THE
-Dal. of Net Earns —
Current
Previous
Year.
Year.
-Int., Rentals, Ac.—
Current
Year.
Roods.
Previous
Year.
$
Buffale Rodt A
S
176,168
353,587
*236,784
*448,374
*222,816
*396,198
Chicago & North Weak. Aug
883,048
July 1 to Aug 31—— 1,660,533
866,329
1,670,731
1,822,839
2.865,200
2,010,316
3,032,996
_
Chicago St P Minn & O.Aug
^Juljr 1 to Aug 31——.
217,851
398,802
186,521
351,127
95,792
228,087
169,392
307,543
Colorado A Southern...Aug
July 1 to Aug 31—
289,697
282,930
565,502
*199,275
*292,510
*162,174
*245,006
Rio Grand* Southern ...June
21,159
573,712
-
July l to June 30......
232,387
*def1,576 *def33,505
xA,450*def258,422
19,838
231,557
INDUSTRIAL COMPANIES.
4
Year.
Companies.
of Net Earns.—
Current
Previous
Year.
Year.
Year.
$
Power & Light
(subsidiary cos)
.Aug
105,842
Sept 1 to Aug 31—— 1.065,355
Sept 1 to Aug 31—
Portland Gas & Coke.Aug
...
102,109
1,477,356
13,133
209,442
12,288
174,391
4,116
209,442
24,572
318,526
25,220
270,519
St Joseph (Mo) Ry.Lt,
Heat A Power Co.
July-
Boulevard. June
Southern
Tampa Electric Co..
Third. Avenue
Twin City Rap Tran.
Underground Elec Ry
London Elec Ry—
Metropolitan Dist.
4,719
10,728
3,604
2,237
5,893
3,122
Pow Co, Con. .Aug
29,251
30,828
30,607
11,587
Pennsylvania Lighting. .Aug
3,500
28,000
3,533
27,469
3,722
27,320
7,982
63,500
7,813
62,574
9,663
86,212
July
June
...
2d wk
17,577
128,102
13,182
98,454
23,049
217,324
20,414
175,527
(subsidiary cos)
Aug
Sept 1 to Aug 31-1—-
35,719
330,020
22,107
200,469
50,693
616,298
47,794
608,893
Pt Worth Power & Lt.Aug
Sept 1 to Aug 31—
7,565
75,931
5,802
56,652
28,259
263,881
13,617
166,800
Texas Power & Light.Aug
20,676
12,748
233,260
22,166
297,338
5,996
51,263
3,095
40,824
Jan
1
to Aug 31.—
Rockford Electric
Aug
Jan 1 to Aug 31—
Scranton
Jan
Electric......Aug
1 to Aug 31
—
Southwestern Power & Light
31—
169,877
10,683
91,705
Wheeling Electric.—-Aug
Jan 1 to Aug 31
5.356
43,236
4,091
33,862
Sept 1 to Aug
*
Wk Sept 13
Wk Sept 13
...
_.
...
Electric
Railway Net Earnings.—The following table
-Int., Rentals,
Current
Year.
Roads.
Month of June
1912.
$
—July l to June 30—
1912-13.
1911-12.
277,577
122,755
257,774
127,096
3,340,047
1,518,292
2,974,600
1,386,873
Total operating revenuesTotal operating expenses
154,822
146,810
130,67$
1,821,755
1,595,462
1,587,726
1,361,294
Net operating revenue.
One-twelfth of annual taxes.
8,011
1,831
def 1,850
226,292
33.331
226,432
9,784
6,180 Lossl 1,635
192,961
Amer Light & Trac....Aug
324,637
Jan 1 to Aug 31.—— 2,734,424
Brazilian Trac, Lt A P
Aug 2,038,340
Jan 1 to Aug 31—
15,624,438
Citizens'
Traction.b—Aug
July 1 to Aug 31——
132,529
■
498,976
60,233
208,750
72,090
Baton Rouge Elec Co
13,774
June
63,527
Belt Line
2038,340
Brazilian Trac, LAP August
Brock A Plym St Ry. July
16,883
2288,573
Bklyn Rap Tran Syst June
32,543
Cape Breton Elec Ry July
95,521
Chattanooga RyALt. July
46,001
Oleve Painesv A East July...
120,558
Cleve Southw A Col. July
48.875
Columbus (G'a) El Co July w
June
185,620
Coney Isl A Bklyn.
175,352
Dallas Electric Corp. July
242,443
Detroit United Ry— 1st wk Sep
•
D D E B A Batt(Rec) June
51,782
117,097
Duluth-Superior Trac August
230,716
East St Louis A Sub. July..
El Paso Electric Cos. July
65,551
161,785
42d St M A St N Ave June
228.910
Galv-Houst Elec Co. July
117,688
Grand Rapids Ry Co July..
97,924
Harrisburg Railways August
Havana El Ry, L & P
i
Wk Sept 21
53,379
(Railway Dept)
Atlantic Shore Ry—
Aur Elgin & Oh Ry.
Bangor Ry A Elec Co
C
—
...
-
_
—
.—.
—
—
34,534
Jan. 1 to latest date.
Previous
Year.
Current
Previous
Year.
June
& Land Co.
Houghton Co Tr Co- July
....
.....
June
July
August
July
July
Lehigh Valley Transit August
Lewis Aug A Waterv. July..
Long Island Electric. June
Milw El Ry A Lt Co. July
Milw Lt Ht A Tr Co. July
Monongahela Val Tr. August
Nashville Ry A Light June
N Y City Interboro.. June
N Y A Long Isl Trac. June
NYANorth Shore.. June
June
N Y A Queens Co
New York Railways. July
North am E as ton A W July
North Ohio Trac A Lt July
North Texas Elec Co July
Northw Pennsylv Ry July
Ocean Electric (L I). June
,
50.039
31,757
297,865
34,772
.r
June
..
...
626,882
2348,789
57;i30
152,721
153,606
75,102
25,815
478,743
150,541
87,560
179,176
55,181
38,931
15,504
135,525
1174,464
17,798
319,132
180,931
$
S
.
450,274 3,416,546 3,189,381
56,221
265,013
249,381
192,754
1,113,986; 1,055,294
64,300
388.457
421,911
12,479
88,117
83,987
57,866
372,128
314,935
1802,691 15,624,438 13,493,369
15,476
70,349
66.846
2195,014 11,995,943 11,672,616
33,116
207,168
194,131
94,055
690,528
592,614
44,449
234,541
220,434
110,448
695,716
650.791
45,549
337.408
305,249
169,552
776,451
719,888
144,534
986,017
1,203,556
239,175 8,849,494
7,769,324
51,417
300,659
311,716
105,656
834,294
761,755
197,978
1,492,682
1,346,835
59.620
504.563
432,217
159,199
933,276
864,189
180,558
1.341,159
1,103,634
111,191
739,800
703.068
89,044
661,955
614.202
1,137,082
8,367,429
958,388
7,228,645
10,581
21,915
12,234
25,603
56,366
343,275
52,113
331,206
34,127
68,780
•
2,333,152
4,600,561
1,164,829
2,298,149
1,110,087
2,153,394
630,536
1,225,932
2,564,912
610,778
1,086,592
2,436,517
1,534,208
1,537,343
3,080,475
2,975,931
6,196.3,19
6,011,613
Lehigh Valley Tran.b—Aug
175,964
Sept 1 to Aug 31—— 1,711.309
1,459,371
108,659
987,454
92,144
823,469
274,140
Aug 31— 2,127,429
265,917
2,053,545
110,159
897,518
866,589
87,560
610,624
76,981
543,827
59,038
398.344
47,253
323.139
Philadelphia Co
—Aug 1,874,156
April 1 to Aug 31—— 9,960.103
1,659,793
8.693,709
634.298,
3.662.699
542,382
3,218,777
1 to June 30—
1 to June 30
—
Louisville Railway...—Aug
Jan
1
to
Monongahela Val Tr.b-Aug
Jan 1 to Aug 31
-
151,181
153,694
147.887
48,776
29,514
Aug
223,170
to Aug 31—1,647,922
198,202
1,456,823
87,695
585,931
74,530
514,628
62,109
480,125
57,433
437,579
17,636
122,137
18,128
127,453
192,344
198,298
74,17#
27.948
Ap»r 1 to June 30—...
Jan
1
Yonkers RR.b—
Apr 1 to June 30——
,
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
Interest Charges
and Surplus.
-Int.. Rentals, Ac.—
-Bal.
of Net Earns.—
Current
Previous
Current
Year.
Roads. '
Year.
$
Year.
$
S
'
.
48,693
10Q.941
Westchester Elec RR.b—
.
2,051,220
1,849,832
45,728
305.959
273,504
30,784
175,398
189,392
283,357
1,904,868
1,842,112
36,425
199,471
189.313
584,681
4.415,930 4,143,340
2333,152 21,451,314 20,996,030
49,248
388,628
350,268
137,639
779,223
724.890
133,972
1.088,656
929,549
67,637
378,521
337,415
22,718
109,221
96,233
453.467
3,444,084 3,236.281
132.026
797,435
684.651
76,981
610.624
543,827
167,167
1,071.614
1,204.539
39,507
293,867
213.516
37,178
190,382
180.238
14,782
75.090
70.560
132,479
673,175
631,664
1150,986 8,172,275 7,946,658
16,197
106,030
98,599
297,235
1,816,369 1,674.570
146,289 1.190,225
941,633
36.621
203,251
182.729
17,326
48,820
45.936
22,874
162,794
161.012
24,389
163.111
162,552
41,151
18,273
Paducah Tr A Lt Co. July
23,988
.Pensacola Electric Co July .....
24,545j
Phila Rap Trans Co. August
1970,032 1913,094
Port (Ore)Ry L A P Co July...
668,371 580.557
Portland (Me) RR— July......
120,011
111.584
683.957 660.647
Puget Sound Tr L A P June
41.578
38.720
Richmond Lt A RR. June
2,597,100
1,802,691
13,493,369
Year.
Honolulu Rapid Tran
Hudson A Manhattan
Idaho Traction Co..
Illinois Traction....
Interboro Rap Tran.
Jacksonville Trac Co
Lake Shore Elec Ry.
$
310,918
2*517,336
Rap Tran.a.-Aug 2,348,789
July 1 to Aug 31—
4,690,616
a
%
August
August
July
July
July
Year.
J
\
105,656
761,755
Wisconsin Gas & El.a-.Aug
Jan 1 to Aug. 31—...
Latest Gross Earnings.
Rys Co
Previous
314,877
2,651,091
318,153
117,097
Interbor
ELECTRIC RAILWAY AND TRACTION COMPANIES.
American
Current
Year.
834,294
Western Rys A Light
Year.
earn¬
-Bat. of Net Earns.—
Year.
36,312
74,189
Dulutb-Superior Tr.b—Aug
Jan 1 to Aug 31
I 191,898
Current
and net
'
Express privileges—Dr.....
Week'or
donth.
Ac.
Previous
$
July 1 to June 30—
1913.
Name of
Rdad.
gross
ings reported this Week:
Jan
Operating Income....—
>
These figures are for consolidated company.
Apr
.—
6,162,684
665,491
263,641
424.427
*462,217
65,206
123,340
433,282
1,883,583
5,719,272
£12,340
£501,900
£498,085
£12.299
£477,739
£459,557
£57,644 £2,293,381 £1,835,006
244,454 1,312,389 1,207,987
330,434 2,667,026 2,081,754
1044,141 7,287,650 6.988.825
57,875
276,776
272,722
198,202 1,647,922
1,456,823
328,605
69,044
356,156
499,921
62,350
465,392
130,978
20,808
138,909
17,488
109,556
113,557
gives the returns of ELECTRIC railway
EXPRESS COMPANIES.
Gross receipts from operation
111,970
Wk Sept 13
.
709,629
302,452
473,710
505,475
97,086
131,929
467,107
2,004,296
Internat Ry Co (Buffalo) b—
After allowing for other income received.
Canadian Express Co.—
Sep
...
c
dale.
Previous
of London
£12,162
£64,592
263,886
UnionRyG AECo(Ill) July.
362,267
United Rys of st L— July
1065,928
60,600
Westchester Electric- June
Western Rys A Light August
223,170
Yonkers Railroad- —• June
66,811
York Railways.:
August
67,486
Youngstown & Ohio. July23,233
Youngstown A South August
17,381
4,814
57,669
Cat
94,533
20,547
34,312
71,406
362,083
170,362
.....
2,509
17,760
Nor
.
Current
98,335
35,677
61,406
90,658
14,837
31,424
63,181
333,854
160,559
71,126
Union Ry Co of NYC June
7,398
185,099
5,261
.Aug
Marion Lt A Heating.
Previous
105,701
38,418
Staten Isl'd Midland- June
21,746
374,954
22,934
387,024
.Aug
Current
or
Santiago Elec Lt A Tr August
Savannah Electric Co July
June
Second Ave (Rec)
28,744
283,531
17,427
.23,232
239,133
Sept 1 to Aug 31—
Canton Electric
111,449
1,452,137
32,320
325,046
Sept 1 to Aug 31-—..
77,254
852,947
14,521
174,391
Pacific Power & Light Aug
Weelt;
—
American
Kansas GasfA Elec...Aug
Jan. 1 to latest
of
Road.
London Gen Bus.
-Bal.
—'Int.. Rentals, Ac.—
Current
Previous
Latest Gross Earnings.
Name
XCYII.
$
$
184,426
364,728
Pittsb—Aug
Julj 1 to Auk 31—
[V<Mu
3,861,894
3.833" 174
577.575
4.148.286
174.625
542,721
4.084.569
167.368
July 1 to Aug 31—.—
■
w
5,176
10,348
4,749
10,379
15.255
23,237
182,729
30,989
143,322
28,876
148,476
274,619
518,319
220,454
371,732
5,835
11,536
Traction.Aug
Citizens'
Previous
Year.
/
to Aug 31———
25,376
199,952
Interborough Rap Tran.Aug
July 1 to Aug 31——
931,817
919,037
1,863,42$
1,838,072
392,077
794,535
1,449,895
351,262
*259,212
*273,778
703,902
*459,964
*413,156
1,340,895 *1,161,489 *1,150,364
Duluth-Superior
Jan
1
Internat Ry
Trac.-Aug
(Buffalo)—
1 to June 30
1 to June 30
Apr
Jan
July 1 to June 30
—
46,872
,543,576
42,089
492,567
61,777
443,878
Monongahela Val Trac.Aug
Jan 1 to Aug 31...—
25,558
194,745
23,641
162,081
30,480
203,599
23,612
161,058
Philadelphia Co
:—Aug
Apr 1 to Aug. 31,
445,860
2,328,632
440,683
2,398,400
188,438
1.334,067
101,699
820,377
Lehigh Valley Transit—Aug
Sept 1 to, Aug 31——
"Westchester Elec RR-1*
Apr 1 to June 30—
50,056
330,901
52,548
31,783
*def3,520
*def2,054
Western Rys & Light. ..Aug
Jan 1 to Aug 31——
51,930'
408.604
47,658
356,684
*38,261
*196,623
*29,796
*174,529
Wisconsin Gas A Elect—Aug
Jan 1 to Aug 31
8,900
71,240
9,594
70,117
*9,197
*55,812
*9,337
*60,885
57,640
44,341
*17.638 *defl6,154
Yonkers RR—-
Apr 1 to June 30
*
After allowing for
other income received.
New York Street Railways.
■
■
Gross Earnings
Previous
Current
Year.
Roads.
$
Year.
$
—Net Earnings—,
Current
Previous
Year.
Year.
$
S
283,357
1,842.112
C157,351
1,043,647
cl59,833
1,066,364
1,231,870
8.515.261
714.808
5.243,399
654,018
4,960,580
7,891,730
1,275,273
7,880212
612,312
3,739.494
605,662
3,777,408
Total Interb R T.a.-June 2,591,271
Jan 1 to June 30——16,760,698
2.507,143
1,327,127
6,989291
1.259,680..
16,39^,471
Hudson A
Jan
1
Manhat.a--.June
297,865
to June 30.—...
1,904,868
Interb R T (Sub).a
Jan 1 to June 30
Interboro R T
Jan
June 1,291,649
8,868,972
(Elev).a.June 1,299,622
1 to June 30------
0,737,9§6
Sept. 27
Statistics.—The operations,
-Net Earnings-
Gross Earnings
Current
Current
Year.
Previous
Year.
Year.
Roada.
881
CHRONICLE
THE
1913.]
Previous
Year.
&e.,
OPERATIONS,
Brooklyn Rapid Tran.a June 2,288,573
11,995,943
Jan 1 to June 30-.
2,195,014
11,672,616
919,950
4,149,217
842,598
3,970.420
New York Railways _a. June
Jan 1 to June 30-
1,149,276
6.997,811
1,183,106
6,795,672
290,702
2,254,528
373,028
2,080,946
-June
Belt Line, aJan 1 to June 30-
63,527
372,128
57,866
314,935
19,226
82,969
9,521
6,377
.June
Second Avenue, a
Jan 1 to June 30-
94,533
505,475
90,658
462,217
31,182
103,903
.June
362,083
2,004,296
333,854
1,883,583
151,526
794,418
158,031
883,026
D D E B & Batt-a--i -June
51,782
300,659
51,417
311,716
12,802
78.308
11,994
53,107
42d St M & 8t N Ave.a -June
Jan 1 to June 30-
161,785
933,276
159,199
864,189
75,994
379,973
58,281
263,613
N Y City Interboro.a. .June
Jan 1 to June 30.
55,181
293,867
39.507
213,516
8,063
35,311
8,182
41,391
Boulevard.a June
to June 30-
20,547
97,086
14,837
65,206
6,200
1,947
1,651
10,953
.-
,
—
„
Third Avenue, a
Jan
Jan
to June 30-
1
Southern
Jan
to June 30-
1
1
«
Average miles
Operations—
4,500,947
4,263,640
Passenger mileage
234,545,623 220,979,696
Rate per pass, per mile.
2.125 cts.
2.060 cts.
♦Freight (tons) carried.
8,205,947
6,946,804
♦Freight (tons) mileage. 1262998,028 1092173,586
Av. rate per ton per mile
0.86 cts.
0.87 cts.
Av. tons fr't per tr. mile
276
249
Av. earn, per pass. tr. m.
$1.31
$1.23
Av. earn, per
78,790
275,433
60,600
272,776
57,875
272,722
24,497
44,454
June
66,811
328.605
18,635
83,556
Earnings—
Freight revenue.
Long Island Electric.a .June
Jan 1 to June 30-
25,815
109,221
22,718
96,233
7,342
2,600
June
38,931
190,382
37,178
180,238
3,257
def6,286
N Y & North Shore.a. .June
Jan 1 to June 30-
15,504
75,090
14,782
70,560
2,399
4,490
N Y & Queens Co.a-- -June
Jan 1 to June 30-
135,525
673,175
132,479
631,664
37,304
88,458
15,405
def60,593
Ocean Elec (L I)_a— -June
Jan 1 to June 30.
18,273
48,820
17,326
45,936
10,770
def272
9,906
12,258
Coney Isl & Bklyn.a- -June
Jan 1 to June 30-
185,620
776,451
169,552
719,888
80,235
239,779
52,212
152,584
Richmond Lt & RR.a. -June
Jan 1 to June 30-
41,578
174,625
38,720
167,368
4,488
def40,665
2,565
Staten Island Mid.a-- -June
Jan 1 to June 30-
34,312
131,929
31,424
123,340
N Y & Long Isl Trac.a
Jan 1 to June 30-
95,817
16,993,005
15,135,426
16,092,851
15,095,023
2,208,294
2,188,946
1,684,728
1,796,694
320,889
6,283,268
1,956,455
1,758,143
285,187
#,553,190
335,504
9,888,479
5,206,544
revenue
Operating Expenses—
394,915
380,637
10,466,216
10,656,053
5,105,543
def.4,812
4,669,210
5,436,79$
def.4,733
def.12,53#
def.648
5,100,731
832.263
4,664,477
5,424,26#
730,808
5,205,896
682,832
4,268,468
3,881,631
145,106
53,856
41,711
4,693,452
79,834
53,702
6,232
4,523,064
84,829
4,122,304
4,833,22#
"4,665,504
80,771
289,693
1,631,590
14,780
787,97#
1,298,934
293,761
1,611,567
40,399
787,976
1,298,934
348,515
6,746,792
Traffic expenses
^
Transportation
expenses
Total oper. expenses.
Net operating revenue._
operations—net
Outside
Total net revenue
Taxes accrued
555
7,483
20,305
Operating income---,
Rents—credit
Divs.&int. on sec.
136,257
58,251
41,295
owned
Miscellaneous
'
_ -
a
Net earnings here
given are after deducting taxes,
$78,262 in June 1913, agst.
Other income amounted to
$85,007 in 1912.
Joint
1,298,934
Page.
Canadian
Northern Ry.
(Approxi¬
mate Income Statement June 30). .592
Railroads—
Electric Railways (concluded)—
Rhode Island Co
Western Rys.
Page.
667
730
& Light Co
Industrials—
666
American Cyanamld Co..
664
Ry.,799, 819
American Hide & Leather Co., N. Y.663
North Western Ry._799, 816
Central New England Ry.
Chicago Mllw. & St. Paul
Chicago &
Chicago St. Paul Minn.
Coal & Coke Ry
<fc Om. Ry.,800
728
Cuba Co..
662
Cuba RR
663
Denver & Rio Grande RR
798, 811
Des Moines & Ft. Dodge RR
693
Fonda Johnstown & Gloversv. RR..593
Illinois Central RE724, 733
Interborough-Met. Co., N. Y
800
Interborough Rapid Transit Co.725, 744
Minn. St. Paul & Sault Ste. Marie..800
New York Ontario & Western Ry.._803
Norfolk & Western Ry
724f. 740
Reading Company
»
798, 805
St. Louis Rocky Mtn. & Pacific Co..803
—
— — —
Electric Railways—
American Railways,
Philadelphia....802
Chicago RR_.
727
Boston Elevated Ry. (prelim, state.).727
Aurora Elgin &
Monterey
(Mex.) Ry., Lt. A Pow.Co.593
N. Y. Clty._-.725
New York Railways,
591
American Locomotive Co
Smelting & Refining Co.
(6 mos. ending June 30)..
663
Ames-Holden-McCready, Ltd
..665
Associated
Merchants'
Co.
(HalfYear ending Aug. 1)
-.726
American
Caney River Gas Co
Chalmers Motor Co.,
Edison Elec.
598
Detroit------.72 7
Ilium. Co., Boston....731
Superior Corp., Sault Ste. M-.801
Laurentlde Co., Ltd., Montreal
664
Lehigh & Wilkes-Barre Coal Co
804
Mahoning Investment Co...
593
Mangum (Okla.) Electric Co...'668
New River Company......
664
United Dry Goods Co., New York
(6 months ending July 15)
726
United Gas & Electric Corp. of Conn.,
New York (Special)
;
726
Utah Consolidated Mining Co
665
Virginia-Carolina
Chemical Co.,
Lake
663
Richmond, Va
Lt., Ht. & Power Co.
(preliminary statement)
-----730 Westinghouse Air Brake Co., Pittsb.801
Quebec Ry.,
Chicago
St.
Paul
Minneapolis
(Report for Fiscal Year ending
>President William A.
& .Omaha Railway.
June 30 1913.) «
Gardner says in substance:
with the previous year, total operating revenue
increased $1,857,579, while operatmg expenses increased $1,421,245 and
railway tax accruals increased $49,417. » The increase of $561,518 in the
amount for wages paid is accounted for as follows: Higher rates of compen¬
sation, $86,062; more time worked, $475,456.
Freight revenue increased
14.54%, the number of tons of freight carried one mile having increased
15.64% and the average revenue received per ton per mile having decreased
from .87c. to .86c., or .92%.
Passenger revenue increased 9.51%, the
number of passengers carried one mile increasing 6.14%, while the average
rate paid per passenger per mile increased from 2.060c. to 2.125c., or 3.16%
Results.—As compared
and structures includes $203,737 for rails, $326,294
for ties and the cost of re-ballasting 33 miles with gravel and cinders; also
Maintenance of way
work.
part cost of replacing 860 feet of wooden bridging with permanent
Bonds.—Debenture gold bonds of 1930, issued during the year for
addi¬
equipment, were sold, amounting to $2,500,000
(V. 96, p. 1421). In addition, $142,000 cons. M. 6% bonds of 1880, ex¬
changed for a like amount of underlying bonds wrere retired, viz.: Ch. St. P.
& M.lst M. 6s of 1878, $111,000, and North Wise. Ry.lst 6s of 1880,$31,000.
Construction.—The construction charges aggregated $4,336,196 as fol¬
lows:
Cost of second track, $1,371,447; extensions, $63,105; sundry con¬
struction (notably terminal improvements at Minneapolis, $524,255; auto¬
matic block signals, $258,244, and bridges, $150,859), $1,478,358; new
equipment and improvements to equip, net, $1,423,285.
The work on
the second track between Truax and Northline, Wis., is well advanced and
the greater part of the track has been laid and 29.65 miles placed in opera¬
tion. The remainder should be placed in operation dur ing October 1913.
Block Signals.—Automatic block signals between Elroy and Wyeville,
Merrillan and Eau Claire, and Northline, Wis., and St. Paul, Minn.,
tions, improvements and
mentioned in previous report, were completed and placed in operation.
Automatic block signals are now being installed between Eau Claire and
Northline, Wis., 63.70 miles, of which 32.80 miles were placed in operation
July 17 1913.
The balance of the work authorized—30.90 miles—will be
completed this year, when the company will have continuous automatic
block signals of the most modern type from Elroy, Wis., to St. Paul, Minn.,
194.57 miles.
Bridges.—The draw span, 320 ft. long, and the fixed span, 157 ft. long,
the St. Croix^River at Hudson, Wis., were replaced by
of the same legnth of heavier construction; and 29 steel bridges be¬
tween Eau Claire and Elroy,- Wis., were replaced with heavier bridges,
or strengthened by the addition of material to provide for increase In the
weight of locomotives.
The length of wooden bridging was decreased
860 ft., as follows;
Bar permanent bridges, 574 ft.; by concrete pipe cul¬
verts, 286 ft.
of the bridge over
spans
66,043
1294,310
1,649,029
28,319
787,976
1,298,934
4,312,248
53,518
4,093
BALANCE SHEET JUNE 30.
1913.
1912.
$
$
Assets—
equipm't.72,085,443 67,749,246
196,000
192,896
206,200
169,609
Co.'s stk. in treas.a4,231,128
Bonds on hand.6.
313,046
Cash
;2,413,443
Materials & supp's 1,629,295
Bills receivable.-.
1,956
Traffic, Ac., bals.
95,909
Agents, &c. (net).
527,103
unpledged-
Other investments
Miscell.
Funded debt
.37,598,046
Vouchers.A wages
1,135,156
Int. & divs. unpaid
2,181,467
350,489
159,044
Miscell. accountsUnmatur. int.,
&c.
Taxes..
Def. credit items.c
Profit
82,589,131 79,016,205]
Total assets
12,646,833
309,046
3,938,341
407,228
508,871
accounts.
Def. debit items...
stk A scrip.
4,231,128 Traffic, &c., bala_
1,956
113,473
408,971
421,541
318,450
$
$
Com, stk. A scrip-21,403,293
Pref.
1912.
1913.
.
Liabilities—
Stock ol prop.,Ac.,
cos.,
4,103,746
4,137,129
def.2,307 sur.729,475 ror.528,375
sur.192.023
GENERAL
104,492
4,124,611.
787,976
deductions
Annual Reports.—The
Road &
f
1,826,264
11,915
fund, debt
Other int. and miscell.Divs. On pref. stk. (7%)
Divs. on com. stk. (7%)
Balance for year
following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since Aug. 30.
This index, which is given monthly, does not include re¬
ports in to-day's "Chronicle."
,
•
387,159
equip.—balance)
facilities, &c., rents}
Total
ANNUAL REPORTS.
■
Deductions—
Hire of
Int. accr'd on
c
782,846
4,504,271
income.-
Gross corp.
90,269
11,887,462
Maint. of equipment—
General
4,309,073
974,769
1,965,393
1,863,984
285,537
6,155,61#
385,523
Maint. way & structures
"
10,775
20,492
94,339
Total oper. revenue.-
3,722
12,377
Jan 1 to June 30-
transport'n.
10,563,204
4,475,419
951,03#
103,19$
Other than
9,362
20,364
Yonkers RR.a
0,7fo,912
9,478.792
4,551,594
1,009,223
Passenger
9,111
2,857
June
1 to June 30-
1109-10.
1910-11%
$
1911-12.
10,857,207
4,984,595
1,056,864
All other transport. rev_
def22,187
40,609
Jan
251
$1.22
$2.28
INCOME ACCOUNT.
1912-13.
14,883
20,204
69,044
356,156
Westchester Electric.a
274
$1.21
$2.4$
$2.16
$2.37
fr't tr. m-_
k-Jl.739
♦H'*
4,419,017
4.845,696
233,136,695 224,461,301
1.920 cts.
1.920 cts.
7,422,027
7,231,446
1171703,024 1070987,529
0.902 eta.
0.908 cts.
freight only.
♦Revenue
90,232
274,633
244,454
1,207,987
263,886
carried-1—
Passengers
1909-10.
1,74$
1,745
1,747
operated-
1910-11%
1911-12.
1912-13.
25,239
57,404
1,312,389
Union Ry ofN YC.a- -June
Jan 1 to June 30-
earnings, expense!, aharges,
follows:
were as
1,392,197
80,228
542,122
1,648,392
and loss...£4,592,026
21,403,293
12,646,833
35,098,046
1,440,282
351,951
102,589
1,350,931
88,043
465,904
1,441,510
4,626,822
Total liabilities.82,589,131 79,016,205
Company's stock in treas. includes$2,844,206com. and $1,386,.922pref.
in 1913 include: S. S. M. & S. W. Ry., $5O,C00; Minn.
Eastern Ry., $75,000, and Minn. Transfer Ry., $187,000; miscell., $1,046.
c Deferred credit items include in 1913 reserve for accrued
depreciation,
a
b Bonds on hand
$1,321,312; unextinguished premium on funded debt sold, $81,252,
cell., $240,827.
d After deducting in 1913 $222,375 for depreciation accrued
July 1 1907 on equipment retired during the year ending June
and miscell., $4,450.
—V. 97, p. 800.
and mis¬
prior to
80 1913,
Central RR. Co. of New Jersey.
(Report for Fiscal Year ending June
Results.—The
gross
revenue
30 1913.)
in substance:
President George F. Baer says
J
increased $2,496,721, or 8.97% over the
preceding fiscal year.
The revenue from all classes of traffic increased,
except miscellaneous transportation.
The average revenue tonnage per
train mile was 547.2 tons, an increase of 33.4 tons, and the average distance
each ton was carried was 72.56 miles, an increase of 1.69 miles.
During the year 376,565 new ties were laid, 4.64 miles of track were reballasted with broken stone; 138.12 miles of track were re-laid with steel
rails of 90, 100 and 135-lb. sections; 40.87 miles of track were re-laid with
second-hand rails, chiefly of 70, 80, 85 and 90-Ib. sections.
Additions, dec.—The following expenditures, aggregating $7,858,239,
were made for additions and betterments during the year:
$784,074
Right of way & st. grounds. $344,154 Shops and turntables.
12,358
Bridges
796,828 Water and fuel stations
535,233
Signals and interlock, pl'ts
65,097 Roadway
674,808 Miscellaneous
wharves—776,840 Rolling equipment
Sidings and yards
Docks and
Station bldgs. and groundsl,146,469 Floating equipment
The amount stated above has been charged as follows:
7,264
2,489,594
225,520
To income of
$2,832,285; to fund provided out of income of previous years
$3,738,747; to capital account, $1,287,207.
-.
Some of the principal items in the sum of $7,858,239, expended for addi¬
tions and betterments, are as follows:
$99,986, renewing bridges and chang¬
ing grade on Newark and New York branch; $156,181, additional machinery
and shops at Elizabethport, N. J.; $340,860, land for right of way purposes;
$132,630, suburban terminal at Cranford, N.. J.; $168,141, new passenger
stations, change of grade, &c., at Bound Brook, N. J.: $294,987, service
cm-rent year,
building at Jersey City: $152,826, new pier (No. 13) at Jersey City;
161, reconstruction of ferry slips, train shed and changes in tracks
8rovements at Jersey City passenger
oating equipment.
Nezo
Equipment.—We
have
$1,144,and im-
terminal; #2,715,115, rolling and
received
the following now
equipment
(a) contracted for In previous year: 15 locomotives and 1,000 gondola cars;
(b) purchased during year: 3 locomotives, 1,000 steel hopper cars, 2 steel
car
floats and 1 locomotive crane; (c) completed at company's shops.
5 locomotives and 19 cars.
Funded Debt.—The total funded debt was decreased $967,000 for the
fiscal year, as
follows:
Equipment bonds maturing April 1 1913 to June 1
mortgage, $7,000.
5% bonds authorized, a balance of $4,~
1913, $960,000; real estate
Of the
$50,000,000 General M.
909,000 remains unissued.
General.—The I.-S. Commerce Commission
betterments charged to income since June 30
directed that additions and
1907 should be shown as a
property asset on the balance sheet, and the amount so charged is $16,461,950; therefore, to prevent a misleading increase of surplus by reason of this
order, we have made the following entry on the credit side of the balance
sheet:
"Appropriated
since June 30 1907
The
sum
surplus—Expenditures on property through income
asset."
,
/
has been appropriated out cf the surplus of th#
and charged as an
of $1,208,182
fund for additions and betterments (see
Tugs, dec.—During the year the company disposed ef
current year as a
above).
its fleet of ocean-
foing tugs and barges Lehigh & transportation Coal Co.below.! on the New
Ingland coast.
[See used for Wilkes-Barre of coal U points
882
c'
I1THE; CHRONICLE
[Vol>
The new. ferryboat5 Bayonne has been
received since July 1.
Lehigh Valley RR.
Tenant.—Effective May 1 1913, the Lehigh Valley
as
INCOME ACCOUNT.
-
Operating Revenue—
,
1912-13.
Merchandise
1909-10.
1910-11.
$11,855,504 $10,902,9721
10,081,937
8,644,235
Anthracite coal
Passenger
Express and mail__
Miscellaneous
5,599,654
558,178
38,356
272,128
Other than transp'n rev.
Total
1911-12.
General
$2,785,817
4,220,747
Transportation expenses
8,499,555
898,742
equipment---
General and traffic
.
.
Total
Total
$2,694,781
3,831,110 $14,958,962 $13,925,506
7,961,360
869,829
Total
Total income
Taxes
a
$1,656,189
Int. on bonds & guar
2,455,740
Interest—miscellaneous.
52,527
Rentals of leased lines.
2,697,793
Additions & betterm'ts.
4,040,466
Dividends (12%)
3,292,416
$1,502,670
2,648,933
1,987
2,580,573
2,000,000
3,292,416
_
Total
$769,681
2,697,333
350
2,531,186
3,000,000
3,292,416
breaker;
$1,174,924
2,745,733
420
2,167,314
4,000,000
3,292,416
stock at
20,022
20T, 238
on
17,398
13,423,386
3,456,189
13,316,699
2,968,271
bonds.
724,690
814,390
460,000
461,090
1,197,625
1,197,625
2,383,405
3,225,426
2,472,015
1,288,346
,
t
814,390
460,000
1,197,625
:
>914,285
190,383
'?
1,197,625
a446.869
.
deductions
2,472,015
2,749.162
; 219,109
■
984,174
in
1909-10 include $65,000 to
complete Stanton
$110,000 for estimated depreciation of 220,000 tons of coal
in
Hampton storage plant
ana
1913.
$271,869 cost of refunding debt.
1912.
$
Assets—
$
.1,,
1913.
Liabilities—
Capital
Funded
debt
"
stock
Advanced royalties
$14,195,131 $12,026,579 $12,291,036 $13,380,737
a...
$716,656
$855,685
$1,811,483
Balance, surplus
22,279
-
-
CONDENSED BALANCE SHEET JUNE 30.
-
446,636
•V
'
14,982,263
3.760,361
Prop'y & equip...29,036,546 28,136,335
deductions
>
15,019,733
5,608,831
deductions
Other
119,219
689,535
29,934
16,386
28.058
•
$14,195,131 $12,743,235 $13,146,721 $15,192,220
.
3,885,289
-
6,118,471
236,693
301,655
2,034,350
3,796,442
-121,515
-
152,657
Surplus
Deductions—
;
341,156i
1,756,014'
3,876,863
124,562
631,887
17,193
16,180
1.469,465
Sinking funds
Dividends (13%)
Other deductions
$15,357,080 $14,958,962 $13,925,506
Net revenue, rail
lines--$12,000,896 $10,533,014 $10,794,545 $10,871,046
Outside operations—net
*def.65,611 ♦sur. 10,093 *sur.75,286 *def.93,172
Inc. from invest's, &c„
2,259,846
2,200,128
2,276,890
x4,414,346
6,297,131
209,743
Cr 172,732
—
Net earnings
Deduct—
Fixed interest
$16,404,861
-
_
1909-10.
$
1
Depl. of coal-lands fund
Val. of coal sold from stk
$28,405,757 $25,890,094 $25,753,507 $24,796,552
-----
_
1910-11.
6,450,714
261,181
341,089
1,691,392
337,137
395,257
1,246,470
4,451,284
126,701
691,706
35,373
19,781
7,676
expenses.
Insurance
Maint. of property.
1911-12.-
•
7,881,079
Taxes, State and local,.
Taxes, Federal.
5,476,116 $25,753,507 $24,796,552
537,663
39,740
289,368
Operating Expenses—
Maint. of way & struc-_
Maint. of
1912-13.
$
Expenses—
Mining coal and repairs,
Colliery improvementsRoyalty leased prop'ties
Coal purchased
Transp., yard & ag'y exp
RE. Co. commenced using our
Jersey City passenger terminals.
xcvu.
$
1912.
'
c r
$
9,210,000
9,212,500
~"Ry .<fclnd ."Sec.) 16,996,000
19,687,000
(see
for coal
1
—1
Cash....
*Gross
299,562
2.701.GQ?
11,806
(3,454,857
Vouch. & pay-rolls
908,150
110,028
Coup., <fcc., unp'd
10,006
11,806
564,991
634,846
347,307
collieries, &c
1,781,408
281,001 Land suspense acct
14,810
732,596 Suspense accts...
59,015
932,743 Profit & loss
6,795,280
123,911
1,694,090
Cash for coup.,&c.
Bills & accts. rec.
earnings from outside operations were in 1912-13, $1,919,655; in
1911-12, $1,938,596; in 1910-11, $1,873,370, and in 1909-10, $1,790,113.
Total gross earnings, including outside operations, in 1912-13,
$30,325,412;
in 1911-12, $27,828,690, against $27,626,877 in 1910-11 and
$26,586,665
~
■
on
*
hand
BALANCE
SHEET
JUNE
10,076
Insur., adv. pay'ta
48,605
Material & suppl's
Securs.of cos.own'd
30.
407,116
281,001
372,596
1,426,829
240,648
1
1913.
Ji.C3CtO
1912.
$
RR. & equipm't
a69,348,554
Physical property 3,321,347
Securities. -1
630,247,428
_
_
_
Adv.for construe
Bupp. & material
Cash—
Agents, &c
Traffic, &c., bal
accounts.
2,355,011
1,863,788
1,401,842
1,462,813
718,795
3,003,832
Loans & bills rec
9,626
218,682
Insurance fund.
Advances
2,946,352
Other def. debit
items..
V
Liabilities—
$
63,682,451
3,447,551
27,436,800
27,436,800
"Ry.&I." Sec.)46,881,000
Loans & bills pay
3,325,000
Int.,divs.,&c.,due
1,572,923
2,045,712 Vouch. & wages
2,756,125
1,483,871 Traffic,&c., bal.
318,255
Misc. accounts.
702,520
799,991
2,809,858 Int.,divs.,&c.,acc
552,986
V 8,312 Taxes..
960,898
47,848,000
1,200,000
1,264,164
2,341,720
218,682
2,324,539
2,012,230
Total assets..
a
After
119,346,178 113,571,774
deducting
reserve
Def. credit items
2,634,211
Approp. surplus:
Special (text)c. 16,461,950
As
1,508,182
14,137,857
reserves, l
Total
556,626
1,598,140
2,038,896
10,711,612
3,939,866
13,969,878
119,346,178 113,571,774
for accrued
Lehigh & Wilkes-Barre Coal Co.
Tonnage.—We mined and shipped during the year from lands owned and
an increase of 1,202,795 tons and 541,559 tons
purchased, a decrease of 144,969 tons as compared with 1911-12.
The tonnage sold was 5,678,373, an increase of 497,914 tons over the pre¬
vious year.
The tonnage of prepared sizes sold, including lump, equaled
66.73% and of pea and smaller 33.27%.
Tenants shipped from lands
owned and controlled by us 1,055,100 tons.
This makes the total amount
of coal shipped from our lands 6,243,321 tons, divided as follows:
From
fee lands, 4,571.,391 tons; leased lands, 1,464,892 tons, and from washeries
207,036 tons.
Property Accounts.—Additions:
Property and improvements, Parrish
Coal Co., $622,616; coal property purchased, &c., $6,234; sea
tugs and
barges, $404,677; total, $1,033,527.
Less—Surface land sold, &c., $3,825,
and depreciation on yards, wharves, marine equipment and colliery
impts.,
$129,491; net increase, $900,211.
Sinking Fund for Consol. Loan.—The amount on deposit was increased
by payment June! 1913 of $460,000 and by $34,086 interest.
The fund
on June 1 1913 had invested in interest-bearing bonds,
$1,426,188; cash on
hand, $641; total, $1,426,829.
' '
Bonds Paid.—The 5% loan of $2,691,000 which matured Nov. 1
1912
-was paid and canceled, except $3,000, which has not been
presented.
Stock.-—During the year 50 shares of capital stock owned by the
company
^were canceled and the shares outstanding reduced by that amount.
controlled 5,188,221 tons,
were
.
-
Purchases.—The several leases under which the Parrish Coal Co.
were
.operating on our property were to expire June 1 1916. ■' It was deemed ad¬
visable to purchase the property, improvements, equipment, &c., and
possession was taken Feb. 1 1913.
The operations consisted of Parrish
Colliery and Washery, Buttonwood Colliery and Washery and the neces¬
buildings, tracks, culm banks, &c. (See "Property Accts." abovei)
sary
To facilitate,the movement of coal from tidewater to Eastern
points, the
3 sea tugs and 15 barges owned by the C. RR. of N. J.,
representing a
.carrying capacity of 20,000 tons, were purchased at an appraised valuation.
Improvements.—We intend to construct' an overground track between
Inman and Buttonwood Collieries, so that the coal from Inman
may be
prepared at Buttoiiwood during the period of development of Inman Colliery.
There has been considerable general development and improvement work
at all collieries in order to maintain
output and assure economical operation.
Assessments.—Under the statute applying to counties with a population
Of more than
300,000, the assessment of property in Luzerne County is now
in the hands of a Board of Assessment appointed by the Court.
This
Board has made a marked increase in the value of property
generally,
par¬
ticularly coil lands, necessitating further appeals.
It will probably be
some time before an equitable valuation is finally determined.
On June 27
1913 an Act assessing a tax of 2H % of the value at the mines of coal pre¬
pared for market became effective.
Our tax under this Act will be ap¬
proximately $375,000 per annum.
Contracts.—In compliance with the decision of the U. S. Supreme Court
in matter of the so-called 65% contracts, all of such contracts held
by this
pompany were at once canceled, and no coal has since been purchased, ex¬
cept in special cases, in small quantities, of a particular size.
TONNAGE, EARNINGS, EXPENSES,
Washeries, by co7—
Co.'s fee l'ds, by ten'ts
Leased lands,by ten'ts
Washeries, by tenants
...
Total of all—
Earnings—•
•Goalsales
Coal mined by tenants-—
^Miscellaneous
-
1912-13.
3,686,394
1,361,521
140.306
884,998
103,372
66,731
6,243,321
$
20,085,620
316,850
226,094
1911-12.
2,836,117
1,087,109
'
62,198
844,888
161,001
107,237
5,098,552
$
18,271,001
cfee.
1910-11.
3,042,486
1,104,545
137,411
967,933
115,024
171,943
5,539,345
$
306,928
16,390,244
350,032
164,695
139,299
97,
i4,283
rents,
not due
A
Reserve
for
971,076
1,014,676
new
-
17,560
45,345
3,569,691
1909-10.
2,885,314
994,789
141,668
962,577
140,576
197,657
5,322,583
$
15,815,043
370,411
99,516
.i
p.
.37,805,912 36,858,590
666, 804.
?
New York Ontario
Total
37,805,912 36,858,590
& Western Ry.
(Report for Fiscal Year ending June 30 1913.)
346,042
(Report for Fiscal Year ending June 30 1913.)
Pres. George F. Baer, Phila., Sept. 18, wrote in substance:
Tonnage shipped—
Total
-V.
320,030
depreciation, $6,515,968.
b "Securities" include in 1913 securities of
proprietary, affiliated and
controlled companies—pledged, $10,356,691; unpledged,
$527,499; miscel¬
laneous, pledged, $2,311,425, and unpledged, $1,238,384; securities issued
or assumed—held in treasury, $2,957,000; marketable
securs., $12,856,429.'
c Consists of expenditures on
property from income since June 30 1907
and charged as an asset.—V. 97, p. 666, 802.
(From co.'sfeel'ds, by Co.
Leased lands, by CO--
,i12,026
1,466,252
Funded debt (see
Profit & loss...
■„
secure.
Sinking fund.*...
Suspense accts...
S
30,816,108
2,355,795
1,664,145
;-
2,448,108
$
Capital stock
Marketable
1912.
'■
1913.
gold loan
Int.,-mine
due.—
Includes profit on sale of Lehigh Valley RR. stock.
Misc.
5,393,640
282,760
Sk. fd. 4% consol.
Land contracts not
in 1909-10.
x
'
Coal
6,531
V.-Pres. (now
Pres.) John B. Kerr, Aug. 30, wrote in sub:
Bonds.—The
apjplication to the P. S. Commission for authority to issue
$2,170,000 general M. bonds, pending last year, was amended to an
issue
of $1,980,000, and the authorization
granted in February last. The bonds
were sold and the
proceeds used to discharge the floating debt incurred for
additions and betterments.
(V. 96, p. 420, 653.),
Car Trusts.—An increase in
freight equipment having become neces¬
sary, the Board authorized the purchase of 500 steel 50-ton
coal, 300 box,
50 stock, 50 refrigerator and 100 flat
cars, and the company issued thereon
4Yi% car trust notes for $900,000, payable $30,000
semi-annually for 15
years, and paid the balance of cost, $154,828 in cash.
(V. 96, p. 420.)
All this equipment has now been delivered and
should materially reduce tha
charges for hire of equipment [aggregating for the past
year $147,636, a
decrease of $8,346 compared with
1911-12.]
Changes in Accounting.—The P. S. Commission, while verifying
through
its accountants the expenditures for which the Gen. M.
bonds were issued,
made a thorough examination of all our accounts from
July 1 1906 to
July 1 1912, to determine the propriety of all charges to capital or addi¬
tions and betterments account during that
period, and to adjust the depre¬
ciation and replacement equipment accounts.
An agreement was subse¬
quently reached as to what charges and credits should be made to the
several accounts involved, which are reflected in the
tables attached.
Dividend.—The board declared a dividend of 2%
upon the common stock,
which was paid Aug. 4 1913, amounting to
$1,162,130.
Equipment Requirements.—During the present season there has been an
unexpectedly large increase in the number of passengers to summer resorts
on the line, for whose comfortable accommodation it was
difficult at times
to provide enough cars.
It will be necessary to procure more
passenger
equipment before the next season opens.
The freight equipment (which on
June 30 1913 embraced 6,568 cars, witha
capacity of 240,702 tons] seems,
with the additions lately made, adequate for the business
in sight.
Coal Traffic.—^While the demand for anthracite coal has
been more active
than usual during the spring and summer
production has been hampered
by innumerable petty strikes at the mines, which have restricted the
tonnage
,
to be moved.
The indications are that the activity will continue
during
the winter, and it is hoped that the industrial conditions
may
improve.
Improvements.—The improvements made during the year, and such as
under way, have been and are now imperatively
necessary, but they
are not such as to produce or increase
revenue, and except for their urgent
are now
need would not be warranted at the present time.
We hope that some
relief may be obtained through a moderate increase in rates with no
further
increase in wages.
Data from Report of Gen. Supt. Edward Canfield,
Aug. 27.
Results.—The gross earnings increased $926,405, or
10.86%, and the net
earnings, after deducting taxes, increased $927,831, or 52.60%, while the
surplus for the year, after deducting fixed charges, rentals, &c., was
$I.2lLj633, an increase of $737,904, or 155.76%.
iMhintenance of Way.—The sum expended for maintenance of
way and
structures was $1,191,798, a decrease of $74,615.
The item of rails is lOw
for the reason that the Steel Co. failed to deliver rails
according to contract.
Some of the rail ordered has been received and laid since June
30, and if
the balance is delivered, as now promised, all the renewals
proposed will
be completed before the winter.
Steel bridge"superstructure of an
aggregate length of 1,992 ft.
was
re¬
built for heavier loading in connection with the second-track
construction
the Scran ton division and 531 ft. on other divisions.
The aggregate
lineal feet of timber bridge and trestle superstructure on the line
has been
decreased 2,232 ft* to 3,804 ft. and replaced with either earth
embankment
or steel and concrete construction.
The lineal feet of steel
bridge
on
super¬
structure have been increased 469 feet (the steel or iron bridges now
aggre¬
gating 28,561 ft.) and of solid-floor bridges 118 ft., to 787 ft.
The aggre¬
gate length of all bridge and trestle superstructure has been
shortened
1.645 ft.
The rebuilding and iiqprovepient of bridges
incurred, for re¬
placement in kind, an expense or maintenance charge of about $107,494.
There were used in repairs 237,723 ties, being 14,794 less than
for the pre¬
ceding vear, and at an average cost of 64K cts.,compared with 63 cts.
Additions and Betterments.—The second-track
extensions, including the
replacement of the large bridges and viadiicts crossing the valleys at Carbondale and Cadosia, and completing double track on the
Scranton di¬
vision, between the main line and Olyphant, were finished in Dec. 1912.
The branch line extending across the old Oswego Canal at
Fulton has also
been completed.
Net increase in length of sidings, 6.56 miles.
The ex¬
tensions of terminal yards at Middletown, Cadosia,
Mayfield and Oswego
have been practically completed.
The elimination of three grade
crossings
has been completed and three other grade crossings will, as
required by the
Commission, be eliminated probably by Dec. 31.
Some progress has been
made in ballasting a portion of the main tracks with
screened gravel, a
most necessary improvement, which Should be continued.
The rebuilding of 400 coal cars of 42 H tons
capacity with steel underframe, bolsters, &c., has entailed some charges to additions and
betterments.
General Remarks.—The operating expenses during the
past year have been
increased to a considerable extent by the higher rates of
wages demanded
and paid to labor in every branch of the
service, except the one whose de¬
mands are now awaiting arbitration, and it is
gratifying that the result of
the operation of the road under such Conditions
compares favorably with
former years.
But it should be understood that the increase in revenue
and surplus as compared with the preceding
year, in which the mining opera¬
tions were suspended for a period of two
months, does not represent a
normal increase and that the road will
to
soon need a
larger volume cf business
reduce, or even to maintain the present ratio of operating
expenses.
y
?>* 883
The
ISTHE
CHRONICLE
;
ferryboat Bayonne has been received since July 1.
Lehigh Valley RR. as Tenant.—Effective May 1 1913, the Lehigh Valley
RR.;Co. commenced using our Jersey City passenger terminals.
J
1912-13.
1911-12.
1910-11.
Coal purchased
1909-10.
Merchandise
$11,855,504 $10,902,972]
10,081,937
8,644,235
Passenger
5,599,654
5,476,116 $25,753,507 $24,796,552
Express and mail-,
558,178
537,663
Miscellaneous
38,356
39,740
Other than transp'n rev.
272,128
289,368
Transp., yard & ag'y
Anthracite coal
Total-
expenses
State and local._
Taxes,
Taxes, Federal
$2,785,817
Depl. of coal-lands fund
Val. of coal sold from
stk
expenses
8,499,555
898,742
Transportation
General and traffic
$2,694,7811
3,831,110 $14,958,962 $13,925,506
4,220,747
-
7,961,360
V
\
,
.
.
Total
earnings
Total income
Deductions—
Taxes
Int. on bonds & guar
a
Interest—miscellaneous.
Rentals of leased lines—
Additions & betterm'ts.
Dividends
(12%)—
$1,502,670
2,648,933
1,987
2,580,573
2,000,000
3,292,416
$769,681
2,697,333
$1,174,924
2,745,733
420
350
2,531,186
3,000,000
3,292,416
2,167,314
4,000,000
3,292,416
deductions
$14,195,131
,
Coal
1913.
JUNE
RR. & equipm't a69,348,554
Physical property 3,321,347
Securities——630,247,428
Adv.for construe
2,355,011
Bupp. & material
1,863,788
Cash..
1,401,842
Agents, &c
1,462,813
718,795
63,682,451
3,447,551
30,816,108
2,355,795
1,664,145
2,045,712
1,483,871
702,520
2,809,858
1
8,312
-
3,003,832
Loans & bills rec
9,626
218,682
Insurance fund.
Advances
218,682
2,324,539
2,946,352
Other def. debit
items
2,448,108
2,012,230
assets..119,346,178 113,571,774
6 "Securities"
reserve
include in
v
1912.•
$
27,436,800
"Ry.&I." Sec.>46,881,000
3,325,000
1,572,923
Vouch. & wages
2,756,125
Traffic,&c., bal.
318,255
j.
Loans & bills pay
Int.,divs.,&c.,due
Misc.
accounts.
799,991
Int.,divs.,&c.,acc
'
Taxes
Def. credit items
552,986.
960,898
2,634,211
Approp. surplus:
Special (text)c. 16,461,950
As
1,508,182
14,137,857
reserves__
Total
1,598,140
2,038,896
10,711,612
3,939,866
13,969,878
119,346,178 113,571,774
for accrued depreciation, $6,515,968.
1913 securities of proprietary, affiliated
and
Lehigh & Wilkes-Barre Coal Co.
Tonnage.—MVe mined and shipped during the
year
from lands owned and
controlled 5,188,221 tons, an increase of 1,202,795 tons and
541,559 tons
were purchased, a decrease of 144,969
tons as compared with 1911-12.
The tonnage sold was 5,678,373, an increase of 497,914 tons over the
pre¬
vious year.
The tonnage of prepared sizes sold, including
66.73% and of pea and smaller 33.27%.
owned and controlled by us 1,055,100 tons.
lump, equaled
Tenants .shipped
from lands
This makes the total amount
of coal
shipped from our lands 6,243,321 tons, divided as follows:
From
fee lands, 4,571,391 tons; leased lands, 1,464,892 tons, and from
washeries
207,036 tons.
' <■ »
Property Accounts.—Additions:
Property and improvements, Parrish
Coal Co., $622,616; coal property purchased, &c., $6,234; sea
tugs and
barges, $404,677; total, $1,033,527.
Less—Surface land sold, &c., $3,825,
and depreciation on yards, wharves, marine equipment and
colliery impts.,
$129,491; net increase, $900,211.
:
Sinking Fund for Consol. Loan.—The amount on deposit was increased
by payment June 1 1913 of $460,000 and by $34,086 interest.
The fund
on June 1 1913 had invested in interest-bearing bonds,
$1,426,188; cash on
hand, $641; total, $1,426,829.
Bonds Paid.—The 5% loan of $2,691,000 which matured Nov. 1
1912
was paid and canceled, except $3„000, which has not been
presented.
Stock.—During the year 50 shares of capital stock owned by the
company
iwere canceled and the shares outstanding reduced by that amount.
Purchases.—The several leases under which the Parrish Coal Co.
were
^operating on our property
were to expire June 1 1916.
It was deemed ad¬
purchase the property, improvements, equipment, &c., and
possession was taken Feb. 1 1913.
The operations consisted of Parrish
Colliery and Washery, Buttonwood Colliery arid Washery and the neces¬
sary buildings, tracks, culm banks,. &c. (See "Property Accts."
above.)
to
To facilitate the movement of coal from tidewater to
Eastern points, the
3 sea tugs and 15 barges owned by the C. RR. of N. J.,
representing a
-carrying capacity of 20,000 tons, were purchased at an appraised valuation.
Improvements.—We intend to construct' an overground track between
Inman and Buttonwood Collieries, so that the coal from Inman
may be
prepared at Buttonwood during the period of development of Inman Colliery.
There has been considerable general development and improvement work
at all collieries in order to maiiitain output and assure economical
operation.
Assessments.—Under the statute applying to counties with a
population
of more than 300,000, the assessment of property in Luzerne
County is now
in the hands of a Board of Assessment appointed by the Court.
This
a
marked increase in the value of
property.generally, par¬
necessitating further appeals.
It will probably be
equitable valuation is finally determined.
On June 27
1913 an Act assessing a tax of 2 M % of the value at the mines of coal
pre¬
pared for market became effective.
Our tax under this Act will be ap¬
proximately $375,000 per annum.
Contracts.—In compliance (with the decision of the U. S. Supreme
Court
ticularly coal lands,
an
in matter of the so-called 65% contracts, all of such contracts held
by this
at once canceled, and no coal has since been
purchased, ex¬
cept in special cases, in small quantities, of a particular size.
.company were
TONNAGE, EARNINGS, EXPENSES,
Tonnage shipped—
From co.'sfee l'ds, by Co.
Leased lands, by CO—
Washeries, by co_—
Co.'s fee l'ds. by ten'ts
Leased lands,by ten ts
Washeries, by tenants
•
Earnings—•,
2,836,117
1,087,109
884,998
103,372
66,731
62,198
844,888
161,001
107,237
5,098.552
$
$
Ac.
1910-11.
3,042,486
1,104,545
'137,411
967,933
115,024
171,943
5,539,345
$
1909-10.
2,885,314
994,789
141,668
962,577
140,576
197,657
5,322,583
$
20,085,620
316,850
226,094
18,271,001
306,928
164,695
16,390,244
350,032
139,299
15,815,043
Total——20,628.564
18,742,624
16,879,575
16,284,970
-
Coal mined by tenants.
■Miscellaneous
i
140.306
1911-12.
6,243,321
Total of all
-Coal sales.
1912-13.
3,686,394
1,361,521
_
814,390
460,000
-V 190,383
1,197,625
-914,285
2,472,0i5
-
984,174
1913.
,
2,749,162
( 219.109
282,760
110,028
hand
2,701,607
11,806
debt
9,210,000
9,212,500
~"Ry .Alnd ."Sec.) 16,996,000
;3,464,857
,
stock....
Funded
,
19,687,000
r)A
1,466,252
908,150
Coup., &c., unp'd
10,006
12,025
14,283
,
.1,426,829
240,648
(see
Sfc. fd. 4% consol.
gold loan
Vouch. & pay-rolls
Int.,—mine
10,076
1912.
$
Capital
1
299,562
6,531
5,393,640
347,397
281,001
732,596
932,743
123,911
Total
-V.
for
564,991
634,846
1,781,408
59,015
1,694,090
17,560
45,345
6,795,280
3,569,691
new
collieries, &c
Land suspense acct
~
Suspense
11,806
rents,
<fcc.K not due
Reserve
971,076
1,014,676
14,810
accts
Profit & loss
370 411
99^516
97,
...
p.
...37,805,912 36,858,590
666, 804.
Total
37,805,912 36,858,590
New
York Ontario & Western
Ry.
(Report for Fiscal Year ending June 30 1913.)
V.-Pres. (now Pres.) John B. Kerr,
Aug. 30, wrote in sub:
.
556,626
(Report for Fiscal Year ending June 30 1913.)
Pres. George P. Baer, Phila., Sept. 18, wrote in substance:
time before
17,398
13,316,699
2,968,271
1,197,625
•
Liabilities—
48,605
346,042
$527,499; miscel¬
laneous, pledged, $2,311,425, and unpledged, $1,238,384; securities issued
or assumed—held in treasury, $2,957,000; marketable
securs., $12,856,429.
c Consists of expenditures on property from income since
June 30 1907
and charged as an asset.—V. 97, p. 666, 802.
•
Board has made
$
407,116
281,001
372,596
47,848,000
1,200,000
1,264,164
2,341,720
320,030
controlled companies—pledged, $10,356,691; unpledged,
some
on
Sinking fund..
Suspense accts
8
Capital stock.._ 27,436,800
/
Funded debt (see
Profit & loss...
deducting
1912.
Insur., adv. pay'ts
1913.
Liabilities—
$
446,636
22,279
20,022
include
Material & suppl's
Securs.of cos.own'd
Marketable securs.
30.
1912.
$
accounts.
1909-10
Land contracts not
"
Traffic, &c.t bal
in
$
■
due
SHEET
^
CONDENSED BALANCE SHEET JUNE 30.
Cash for coup.,&c.
Bills & accts. rec.
Includes profit on,v sale of Lehigh Valley E;R. stock.
BALANCE
•
2,472,015
1,288,346
3,225,426
-
deductions
Advanced royalties
for coal..;
In 1909-10.
30 CtS
2,383,405
.
1913.
$12,026,579 $12,291,036 $13,380,737
$716,656
$855,685
$1,811,483
—
-
a446,869
Assets—
1912-13, $1,919,655; in
1911-12, $1,938,596; in 1910-11, $1,873,370, and in 1909-10, $1,790,113.
Total gross earnings, including outside operations, in
1912-13, $30,325,412;
in 1911-12, $27,828,690, against $27,626,877 in 1910-11 and
$26,586,665
visable
814,390
460,000
1,197,625
461,090
1,197,625
—
Cash.
After
724,690
bonds.
deductions
Other
~
$65,000 to complete Stanton
breaker; $110,000 for estimated depreciation of 220,000 tons of
coal in
stock at Hampton
storage plant and $271,869 cost of refunding debt;.
♦Gross earnings from outside operations were in
a
13,423,386
3,456,189
Prop'y & equip...29,036,546 28,136,335
Balance, surplus
Total
14,982,263
3,760,361
Dividends (13%).
Other deductions
Surplus
$1,656,189
2,455,740
52,527
2,697,793
4,040,466
3,292,416
2,034,350
3,796,442
121,515
"
•"
15,019,733
5,608,831
on
6,118,471
236,693
-301,655
--
152,657
$14,195,131 $12,743,235 $13,146,721 $15,192,220
—
•
1,469,465
Sinking funds.
Total
1909-10.
$
$
6,297,131
209,743
341,156
1,756,014
3,876,863
124,562
631,887
17,193
16,180;
201,238
„
Deduct—
Fixed interest
,
869,829
—_v—$16,404,861 $15,357,080 $14,958,962 $13,925,506
Net revenue, rail lines..$12,000,896 $10,533,014
$10,794,545 $10,871,046
Outside operations—net Mef.65,611
♦sur.10,093 *sur.75,286 *def.93,172
Inc. from invest's, &c„
2,259,846
2,200,128
2,276,890
x4,414,346
Misc.
xcvii.
1910-11.
Crl72,732
Net
Total
Total
.
Insurance
Maint. of property.
Operating Expenses—
Maint. of way & struc„
Maint. of
equipment
exp
General
$28,405,757 $25,890,094 $25,753,507 $24,796,552
——
1912-13.
1911-12.
$
$
7,881,079'
6,450,714
337,137
261,181
395,257
341,089
1,246,470
1,691,392
4,451,2841 ;3,885,289
126,701
r
119,219
691,706'-.
689.535
35,373 ■;
29,934
19,781
"
16,386
7,676
28,058
Expenses—
Mining coal and repairs.
Colliery improvements.
Royalty leased prop'ties
INCOME ACCOUNT.
Operating Revenue—
x
[Vol,
new:
Bonds.—The application to the P. S. Commission for
authority to issue
$2,170,000 general M. bonds, pending last year, was amended to
an issue
$1,980,000, and the authorization granted in
February last. The bonds
were sold and the
proceeds used to discharge the floating debt incurred
for
additions and betterments.
(V. 96, p. 420, 653.)
Car Trusts.—An increase in
freight equipment having become neces¬
sary, the Board authorized the purchase of 500 steel 50-ton
coal, 300 box
50 stock, 50 refrigerator and 100 flat
cars, and the company issued thereon
4Vi% car trust notes for $900,000, payable $30,000
semi-annually for 15
years, and paid the balance of cost, $154,828 in cash.
(V. 96, p. 420.)
All this equipment has now been delivered and
should materially reduce the
charges for hire of equipment [aggregating for the
past year $147,636, a
decrease of $8,346 compared with
1911-12.]
Changes in Accounting.—The P. S. Commission, while
verifying through
its accountants the expenditures for which the Gen. M.
bonds were issued
made a thorough examination of all our accounts
from July 1 1906 to
July 1 1912, to determine the propriety of all charges to
capital or addi¬
tions and betterments account during that
period, and to adjust the depre¬
ciation and replacement equipment accounts.: An
agreement was subse¬
quently reached as to what charges and credits should be made to
the
several accounts involved, which are reflected in the
tables attached
Dividend.—The board declared a dividend of 2%
upon the common stock,
which was paid Aug. 4 1913, amounting to
$1,162,130.
Equipment Requirements.—During the present season there has been
an
unexpectedly large increase in the number of passengers to summer resorts
on the line, for whose comfortable accommodation it
was difficult at times
to provide enough cars.
It will be necessary to procure more
passenger
equipment before the next season opens.
The freight equipment [which on
June 30 1913 embraced 6,568 cars, witha
capacity of 240,702 tons] seems,
with the additions lately made, adeouate for the
business in sight.
Coal Traffic.—While the demand for anthracite coal
has been more active
than usual during the spring and summer, production has
been hampered
by innumerable petty strikes at the mines, which have restricted the
tonnage
to be moved.
The indications are that the
activity will continue during
the winter, and it is hoped that the industrial conditions
may improve.
Improvements .—The improvements made during the year, and such
as
are now under way, have been and are now
imperatively necessary, but they
are not such as to produce or increase
revenue, and except for their urgent
of
.
need would not be warranted at the present time.
We hope that some
relief may be obtained through a moderate increase in rates
with no further
increase in wages;
Data from Report of Gen. Supt. Edward
Canfietd, Aug. 27.
Results.—The gross earnings increased $926,405, or
10.86%, and the net
earnings, after deducting taxes, increased $927,831, or
52.60%, while the
surplus for the year, after deducting fixed charges, rentals, &c..'
was
$1,211,633, an increase of $737,904, or 155.76%.
Maintenance of Way.—The sum expended for
maintenance of way and
structures was $1,191,798, a decrease of $74,615.
The item of rails is low
for the reason that the Steel Co. failed to deliver rails
according to contract.
Some of the rail ordered has been received and laid since
June 30, and if
the balance is delivered, as now promised, all the renewals
proposed will
be completed before the winter.
Steel bridge superstructure of an aggregate length of
1,992 ft. was re¬
built for heavier loading in connection with the
second-track construction
on the Scranton division and 531 ft. on other
divisions.
The aggregate
lineal feet of timber bridge and trestle superstructure on the
line has been
decreased 2,232 ft. to 3,804 ft. and replaced with either earth
embankment
.
or
steel and concrete construction.
The lineal feet of steel
bridge
super¬
structure have been increased 469. feet (the steel or iron
bridges now aggre¬
gating 28,561 ft.) and of solid-floor bridges 118 ft., to 787 ft.
The aggre¬
gate length of all bridge and trestle superstructure has been
shortened
1.645 ft.
The rebuilding and improvement of bridges
incurred, for re¬
placement in kind, an expense or maintenance charge of about $107
494
There were used in repairs 237,723 ties, being 14,794 less
than for the pre¬
ceding year, and at an average cost bf 64H cts.,compared with 63
cts.
Additions and Betterments.r—-The second-track
extensions, including the
replacement of the large bridges and viaducts crossing the
valleys at Carbondale and Cadosia, and completing double track on the
Scranton di¬
vision, between the main line and Olyphant, were finished in Dec.
1912.
The branch line extending across the old Oswego Canal at
Fulton has also
been completed.
Net increase in length of sidings, 6.56 miles.
The ex¬
tensions of terminal yards at Middletown, Cadosia,
Mayfield and Oswego
have been practically completed.
The elimination of three grade
crossings
has been completed and three other grade crossings
will, as required by the
Commission, be eliminated probably by Dec. 31.
Some progress has been
made in ballasting a portion of the main tracks with
screened gravel
a
most necessary improvement, which
should be continued.
The rebuilding of 400 coal cars of 42 H tons
capacity with steel underframe, bolsters, &c., has entailed soqie charges to additions and
betterments
General Remarks.—The
operating expenses during the past
year have been
increased to a considerable extent by the higher rates of
wages demanded
and paid to labor in every branch of the service,
except the one whose de¬
mands are now awaiting arbitration, and it is gratifying that
the result of
the operation of the road under such conditions
compares favorably with
former years.
But it should be understood that the increase in
revenue
and surplus as compared with the preceding
year, in which the mining opera¬
tions were suspended for a period of two
months,
normal increase and that the road will
to
reduce, or
even
does
not
reoresenta
soon need a larger
volume cf business
to maintain the present ratio of
operating expenses.
Sept. 27
OPERATIONS AND FISCAL
*-•
1912-13.
Miles operated
•
V
1909-10.
1910-11.
"
609
\{
*
603
626 '
621
'719,169
785,622
842,073
790,239
39,231,325
39,484,915
Rev. pass, carried 1 mile 39,528,611
37,653,013
2.519 cts.
2.452 cts.
Rate per pass, per mile.
2.460 cts.
2.469cts.
3,695,469
3,429,218
Rev. freight tons carried
3,454,914
3,413,835
249,466,756
Tons carried one mile
260,406,913 230,353,543 228,447,625
0.857 cts.
Av. rate per ton per mile
0.865 cts.
0.895 cts.
0.880 cts.
Revenue pass,
carried--
INCOME ACCOUNT.
'
1911-12.
1910-11.
1909-10.
$1,718,715
342,381
$1,665,880
$1,723,312
929,692
161,687
968,083
168,151
415,438
988,367
175,030
1909-10.
1910-11.
1911-12.
1912-13.
$1,592,250
6.649.635
226,431
215,679
132,577
$1,626,619
7,318,954
215,027
135,102
$9,454,349
$8,527,944
$9,295,702
$8,578,783
$134,166
3,468,223
1,508,833
1,191,798
196,021
$132,470
3,366,317
1,533,195
1,266,413
$125,563
3,613,220
1,494,634
1,087,791
210,147
210,411
$139,244
3,191,409
1,316,046
1,034,454
200,994
$6,499,04
(68,74)
$2,955,308
$6,508,541
(76.32)
$2,0191403
deficit—
32,319
Total net revenue—.
Passenger
Freight
$3,412,832
$3,152,475
$3,148,818
$3,302,147
$716,711
$575,766
360,164
121,764
1,225,429
112,038
$512,170
$1,689,675
7,311,127
227,116
-
1,195,816
82,821
$527,683
361,459
107,909
1,193,180
79,016
Mail and express
Miscellaneous
----- —
Total
$1,633,911
6,545,777
Operating expenses—
Traffic expenses
Transportation expenses
$2,269,341
(72.07)
879,477
$2,269,248
(68.72)
"1,032,899
Maint. of equipment—
Maint. of way, &c
General
expenses-
Total
Outside oper.,
209,831
127,067
$5,882,147
33,411
$1,985,992
221,926
$2,711,473
214,990
$2,652,794
$2,691,897
$1,764,066
$2,496,483
190,782
17,584
349.724
16,414
367,729
$2,441,100
12,567
390,750
$2,904,683
-
$6,531,619
(70.26)
$2,764,083
52,610
$2,922,989
' - 231,092
-
—
Per cent exp. to earns.
Net earnings
Passenger
—
Mail, express and misc-
$2,131,374
$2,880,626
$2,844,417
(68.56)
$2,696,636
43,842
Total revenue
Expenses—
& struc__
Maint. of equipment—
Maint. of way
Operating income
22,004
Rentals received
Interest, &c_
—
Gross corp. income--.
Disbursements—
-1
Transportation
1,358,579
_
117,694
General expenses
Total expenses
Interest
bonds
on
Amortization & bond dis.
3,562
54,552
188,769
Rentals other roads
Hire
of
•
Totals
Balance
Div.
on
Div.
BALANCE
'
SHEET JUNE 30.
Common
pro¬
4,000
4,000
bonds..28,630,000 26,650,000
1,400,000
1,000,000
856,000
Equip, trust notes 1,614,000
1,571,563
Lo]an8 & bills pay-
Mortgage
See note c.
investments
935,089
311,318
845,586
Operating reserves
226,834
17,665
10,324
108^365
852,244
Matured int., div.
985,855
Loans <fe bills rec_.
Agents & cond'ra.
Material & suppl's
146,018
668,264
"
1,063,543
1,623,153
Other work, assets
accrued....
Def. debit items..
76,482
571,507
214,680
22,902
100,448
Vouchers & wages
40,061
40,060
800
Cash
1,365,534,
Traffic balances..
965,965
Marketable secur.
22,751
Traffic
Oth .def .cred .items
& rents
59,248
60,793
unpaid.
Interest
'
322,029
1,496,269
c4,899,977
Profit and loss
5,929,599
Total
97,099,058 95,791,993
for accrued depreciation (equipment),
After deducting reserve
$1,274,-
companies
$3,600,000
also unplodged stocks, $417,138; funded debt, $3,570,000, and miscel¬
laneous, $106,128.
c After deducting accrued depreciation prior to July 1
1907 on equipment retired, $111,533; reserve for accrued depreciation,
$329,645; cost of road, $66,665, and cost of equipment, $589,904 (the three
310.
b Securities
of proprietary, affiliated and controlled
include in 1913 pledged stocks, $1,895,000, and funded debt,
ast items being approved by the P. S. Commission), and sundry minor
adjustments, $9,644; and adding sundry adjustments aggregating $28,076.
—V. 97, p.
'
803.
Boston Elevated Railway.
(Statement for Year ending June 30
We have been favored
Year end. '
Revenue pass,
Year end.
39,296,522
220,127,890
10,984,441
261,182
Total
securs.
.
— _
owned-
Int. charged to constr__
Miscellaneous
Total
$
*
—_
deposits, &c_
Int. from
9 Mos.end.
30 '11. June 30 '10.
Year end.
.
Net earnings
on
'
57,784,319
54,790,173
54,647,196
carried- .326,352,863 310,310,009 305,098,665
$
$
$
run
Earnings—
Passenger
Mails, rents., adv., &c
Int.
1913.)
with the following comparisons:
June 30 '13. June 30 '12. June
Revenue miles
16,268,607
15,467,352
15,199,971
540,302
436,695
435,994
16,808,909 "■ 15,904,047
4,927,413
5,673,328
52,508
50,419
69,460
69,460
496,527
34,141"
5,400
15,635,965
5,516,901
39,070
24,180
11,245.623
281,492
135",998
>n5,545,908
5,861,643
4,198,288
'725,593
1613,839
1454,759
716,180
662,261
437,462
510,135
468,032
342,418
153,159
185,740
1,387,710
145,109
185,305
59,054
556,000
106,239
138,623
967,808
6,885
36,278
417,000
324",000
255",600
57,783
41,674
~
5,832,748
——
-
3,924,226
13.8,064
on
West End debt..
.^762,610;';.
,
Taxes, West End
Taxes, Boston Elev
Taxes
on earns,
and U.l_.
on
West End stock
Divs.on Som. Horse Ry_
Rent. Old C. St.Ry., &c.
Int.on Bos.El.fund.debt
Int.
on
unfunded debt--
Wash't'n St. tunnel rent
East Boston tunnel rent
Cambridge Connect, rent
Total
.
j;
al41',342
corporation tax
Rental of subway
Divs.
*; 986,680
188,068
1,392,969
; 9,180
'56,529
887,807
207,700
370,256
60,575
68,409
$815,572
49,939
$582,019
$725,870
$865,512
$868,680
46
176,655
$871,357
$876,991
$876,219
$1,045,381
$537,520
$943,566
$361,547
Dividends
-
;•
-•:
on
bonds--
Other deduc.
(rents, &c.)
Total
.—
'
Balance, deficit
1913.
9,180
56,040
706,000
131,033
340,500
58,782
18,204
1,358.848
9,180
71",117
$946,335
$220,465
$947,336
$81,824
Road and
def.491.632
1913.
1912.
$
%
Liabilities—
$
12,000,090 12,000,000
Common stock
equip_a47,659,250 46,762,309
10,000,000 10,000,000
cos.-61,100,917 61,100,917 Preferred stock.
20,679,200 23,212,000
115,184 Funded debt
Misc. investments
115,149
450,000
149,193 Loans <fc bills pay.
Caah
.74,465
149",861
Traffic, &c.f bals. . 181,017
M. R. RR. equip.
483,771
508,180
198,755 Vouchers <fc wages
notes in treas..178,641
3,007
2,378
139,567 Miscell. accounts.
Traffic, &c., bals.
230,407
6,825,075
342,563 Matured interest- 7,429,355
Mat'l & supplies..
391,880
186,213
186,213
102,164 Mat. car tr. notes.
Agents & conduc.
109,217
217,298 Mat. Income ctfs. 3,000,000
Miscellaneous
231,149
270,458
273,810
26,853 Accrued interest-Eq. tr. redemp. fd.
45,704
107,000
107,500
10,598 Accrued taxes
Oth. def. deb. items
14,272
19,366
Def. credit items.
20,946
4,091,350
Profit and loss.— 4,687,548
__
Stocks other
— —
■
-
——54,838,599 53,256,751
-54,838,599 53,256,751
Tdtal
for accrued depreciation, $519,957. •
6 Stocks of other companies include Mineral Range RR., $751,995;
Lake Superior Term. & Transfer Ry., $70,800; Ste. Marie Union Depot
Co.,-$37,500; N. J. Bridge Construction Co., $250; Mackinac Transpor¬
tation Co., $237,372, and South Shore Land Co., $3,000 —V. 97, p. 365.
a
After deducting reserve
Coal & Coke Railway Co.
of West Virginia.
(Report for Fiscal Year ending June
30 1913.)
Elkins, W. Va., Aug. 12, wrote in subst:
Railway
Earnings.—While the gross revenues increased 11.6%, or
$129,911, the operating expenses increased 18.6%, or $126,801.
The
expenses were increased chiefiy by the higher wages paid to engineers,
Pres. H. G. Davis,
and the cost of repairs, amounting to some $20,000,
necessitated by the floods of last summer.
The net earnings from railway
operations, after deducting taxes of $42,000 and ground rents of $2,254,.
were $396,829, a slight increase over 1911-12.
Departjnent.—There was a gratifying improvement
in the earnings
coal department.
In the previous fiscal year the trade was greatly
depressed, prices often being below the cost of production, and as a result
the coal operations, after paying the rental, showed a slight loss.
In the
late fiscal year trade conditions were much improved, the market being
good, with prices firm for both coal and coke.
In consequence thereof,
there was a clear profit, after paying the yearly rental, of $101,845.
Total Results.—The profit of the coal department, together with the in¬
come of $27,481
from other sources, added to the profit from railway
operations, gives the result of $526,155 applicable to fixed charges, and
leaves, after payment of the same, a net surplus of $216,416, being an
increase of $154,662 over 1911-12.
'
Improvements, &c.—There was expended for betterments, heavier rails,
side tracks, ballasting, &c.~, $43,666; betterments to equipment, $12,043,
and in additions to coal plants, $19,628.
These three items, amounting to
$75,338, deducted from the surplus of $216,416, leaves a clear income of
$141,078, which was used in paying equipment warrants, debts, &c.
Traffic Earnings.—The coal and coke tonnage has continued its steady
growth and the increase in freight earnings therefrom was $37,447.
In
three years the revenue from this source has increased 76%, and it is
expected that it will soon reach the earnings, from miscellaneous freights.
As coal
and
coke take the lowest freight rates, they require a corres¬
of the
volume of traffic to equal the miscellaneous freights
In the shipment of coal and coke produced on its line,
exceeded for the first time a million tons, the exact
being 1,016,690, an increase over the year before of about 20%,
pondingly
larger
in earning capacity.
the road last year
amount
and nearly double the tonnage of
Coal Lands.—The railroad owns
1910;
about 100,000 acres of
PJ
coal lands and
coal-mining rights, all carefully selected within actual coal areas along its
route in Randolph, Barbour, Upshur, Lewis, Gilmer and Braxton counties
W. Va.
In practically all of these coal lands the measures are above water
level and the coal can be easily and economically mined by drift.
Among
the seams are the Pittsburgh, Sewickley, Masontown, Mahoning, Upper
River seams.
In addition to their steamproducing qualities, most of them are also excellent coking coals.
The railway company also has what is virtually a perpetual lease of all
the properties of the Davis Colliery Co., and the latter is conducted practi¬
cally as the coal department of the railway.
It operates and markets the
{>roducts not only from the mines onboth coal lands of the railway accrues
ts
the sources above the rental but on
well, and the profit from
own as
the railway.
The Davis Colliery Co. owns
in the well-known
lands and coal-mining rights
sur.153,461
sur.10,446
*
" ' '
about 25,000 acres of coal
Roaring Creek coal-field in
counties.
It is the largest operator in that region
and one of the leading mining companies of the State; its five plants are
capable of producing daily 3.500 tons of coal and 700 tons of coke..
In addition the Davis Colliery Co. is operating two mines in the Pitts¬
burgh seam, on lands owned by the railway company—one at Bower and one
at Copen;
present output, about 800 tons and 600 tons, respectively.
There are 18 or 20 coal-mining companies on the line of the road operating
Randolph and Barbour
some
24 mines.
^
RESULTS FOR
U. S. corporation tax included in 1913.—V. 97, p. 727.
-500
68,844
•
72,209
1912.
,
$ ' "**
jA.8sdsmmm
to
5,132,125
4,840,539
4,511,182
3,290,092
700,623
705,368
1,350,461
908,196
>~(6%)1,197,000 (6)1,197,000 (6)1,197,000(4^)897,750
Balance for year——def.496,377
7
" $507,861
I—
Passengers carried
Pass, carried one mile..
Rate per pass, per mileTons freight carried
Rate per ton per
489,550
8,436,377
2.85 cts.
1,425,467
mile_ 103,864,990
mile-..
0.69 cts.
Tons fgt. carried 1
„
.
YEARS ENDING JUNE 30.
1912-13.
deductions—,
Balance
; a No
$673,726
52,144
Freeport, Kittanning and New
Deductions—
Int.
$543,255
38,764
34,472
Other interest
Coal
a
8,591
$1,041,490
225,918
firemen and trackmen
Int., divs. & rents
97,099,058 95,791,993
Total
9,428
$888,906
215,180
Deduct—
•
balances..
Adv. to other cos.
3,359
$760,673
217,418
* $473,389
Operating incomes
Gold notes
69,588,266 10,002,472
companies
$
$
stock__.58,113,983 58,113,983
Preferred stock
ated <fc controlled
Misc.
1912.
"1913.
Liabilities—
$
affili¬
4,672
„
Other income—
Total
,
1912.
1913.
of
$473,519
$1,162,328
def.$19.400sur.$150,469
$1,162,336
somewhat changed in later years, butjgen-
equip't_.o81 ,637,455 82,613,017
prietary,
$210
$1,162,340
$49,293
Comparison of these items is
eral results remain unchanged."
.
$693,014
219,625
revenue-1_-
Taxes accrued
—
$210
*
Securities
255,302
111,985
*$1,737,690 *$1,531,620
$1,142,936
$1,312,797
$473,729
$210
$210
$210
1,162,126
1,162,118
1,162,130
Balance for year
S
222,105
276,629
$1,657,645
pref. stock
stock (2.%)
Assets—
*152",056
155,981
on com.
Road &
•
$54,357
*957,920
■
*142",496
60,733
187,381
$1,693,050
$1,211,633
•—
$65,579
*1,030,881
$72,764
1,190,786
147,636
equipment--.--
359,552
118,982
'
BALANCE SHEET JUNE 30.
..•
.
Other interest...
346,704
$2,395,161
(75.98)
757,314
688,342
operating revenue- _
Outside operations—Net
Total net
,
$2,724,490
(79.83)
_
Per cent of exp. to earns.
Net
-
$95,606
1,202,925
Rentals paid
211,693
411,864
119,642
Traffic
Net income
Taxes accrued—-
1912-13.
$1,983,034
269,835
972,525
187,438
Earnings— Merchandise freight
Iron ore freight
ACCOUNT.
INCOME
-
1909-10.
1910-11.
1911-12.
1912-13.
Operations—
4
Average miles operated-
"
Earnings—
'
.
30 1913.)
TRAFFIC STATISTICS.
,
.
2,245,578
2,199,664
2,201,062
2,148,972
Pass, carried 1 mile
87,345,478
86,175,680 86,227,166 85,364,944
Rate per pass, per mile+
1.934 cts.
1.896 cts.
1.886 cts.
1.865 cts.
Freight carried (tons).6,409.817
5,944,499
6,620,741
5,680,781
Fr't (tons) car'd 1 mile_933,144,824 863,683,142 970,773,368 837,672,900
Rate per ton per mile—
0.783 cts.
0.758 cts.
0.754 cts.
0.794 cts.
Aver, train-load (tons)308
292
296
270
Earn, per fr't train mile$2.41
$2.21 - ,
$2.23
$2.14
Earn, per pass. tr. mile.
$1.0948
$1.0680
$1.0558
$1.0498
Gross earnings per mile$16,715
$15,077
$16,435
$15,167
Detailed Freight Traffic Rec'ts (Incl. Milk on Pass. Trains).
Through freight rev..—
$833,812
$847,960
$864,829
$898,697
Local freight revenue—
1,177,623 71,061,829
1,114,819
1,088,443
Milk revenue,
810,872
799,064
749,855
766,153
Coal revenue—
4,496,797
3,843,962
4.597,202 * 3,903.739
Pass, carried, No_
& Atlantic Ry.
South Shore
(Report for Fiscal\Year ending June
566
566
566
566
June 30-
Operations—
Duluth
RESULTS.
1911-12.
883
CHRONICLE
THE
1913.]
1911-12.
357,466
7,011,323
2.81 cts.
1,275,938
94.128,501
0.73 cts.
1910-11.
293,301
i 6,426,971
'2.70 cts.
1909-10.
281,553
5.830,675
2.75 cts.
1,022,286
949,132
70,740,485
72.763,206
0.77 cts.
0.77 cts.
884
THE
Earning—
Passenger
Freight
Oar
1912-13.
$1,247,869
$1,117,958
$942,753
$882,792
$187,480
215,508
13,653
297,159
$135,358
30,152
62,835
$152,351
193,975
14,474
247,117
26,698
45,371
33,899
$127,723
199,135
11,152
201,743
26,072
24,846
$806,787
(64.6)
$441,083
101,844
$679,986
(60.8)
$437,972
def. 11,192
$605,096
(64.1)
$337,657
27,735
$590,671
(66.9)
$292,121
69,184
$542,927
$42,000
2,254
$426,780
$42,000
$365,392
$42,000
$361,305
$42,000
$498,673
$383,390
$525
9,284
$323,392
$319,305
$840
$840
$309,190
earnings
Expenses—
Maint. of way & struc__
Maint. of equipment
$393,199
$330,945
$324,232
♦$286,148
*$271,239
'550
500
Traffic expenses
Transportation
_
General expenses.:
Car service
:
__
Total oper. expenses.
P.O. expen. to earnings
Net railway department
Net coal department_a_
Total
Less taxes
Less rental joint facilities
___
Net earnings
Dividends received.
Income from oil wells.
*
'
$525
$526,155
bonds.
Davis
Colliery
on
.7
184,414
12,291
211,666
27,468
,
.
1,390
26.957
_
Total net earnings
Bond, &c., interest
Rental
*
[Vol.
Boston
$160,309
557,681
135,770
29,031
and misc.
Gross
Discount
1909-10.
$173,245
549,184
185,973
34,351
service
express
$239,766
716,791
'251,906
39,406
690,847
194,925
35,048
"
Mail,
1910-11.
$197^138
'
CHRONICLE
&
Worcester Electric
Pres. Wm. M. Butler, Boston, Sept.
years..
track, roadway
and
overhead
lines,
Balance
$286,148
sur.$38,084
are
Assets—
1912
$
6,002,615
Equipment
1,838,882
Davis Colliery Co.
199,466
Material on hand..
103,459
Cash on hand, &o_
36,470
Car service..
35,494
Interline freights..
86,286
Agts. & conductors
6,642
IT. 8. mall service.
«
1,073
Rowlesb'g survey.
7,546
Other open accts.
5,958,598
Capital stock
Mortgage bonds.
1,937,204
Coll. trust bonds._
"
218,365 Equip, obligations
80,958 Bills payable
19,321 H. G. Davis, open
account
29,968
47,363 Other open acc's..
7,733 Wages
1,073 Certified vouchers.
7,222 Replacement fund.
87,462 Agents' drafts
2,420 Davis Colliery Co.
(rental)
"""235
Profit and loss....
■
Income—
1912-13.
....$6,483,345 26,416,3871
97, p. 443.
Total
239,898
267,000
,34,926
40,943
94,659
46,584
158,890
44,155
•
15,304
2,229
544
38,749
3,002
$50,625
1912-13.
—
Total gross.,
Per mile (average)
jk,—
565,703
550,046
164,219
$1,616,781
$1,632,509
(7,782 74),
223,561
expenses
General expenses.-
Taxes accrued
Operating income.
226,161
179,958
24,935
512,139
157,322
147,000
27,197
505.654
167,412
149,000
Total net income
Deduct—Interest on funded debt
Other interest
$1,685,354
(8,035 72)
277,810
185.203
27,242
545.399
182,955
72,000
$392,706
$394,745
166,979
*
,
$369,267
4,936
Other income
$399,981
620,883
549,111
115,379
•
$392,706
$394,745
$247,113
151,256
36,311
$245,169
195,538
14,106
91,766
Total fixed charges
Balance, deficit
Ratio op. exp. & taxes to
Property
...
oper. rev—
lnvest__25,701,979 25,550,563
&
$452,732
$78,529
(77.16)
243,371
68,936
Cash
Agents <fc cond'rs.
Misc. accounts
ceivable.
Insur. paid In adv.
„
13,444
12,024
re¬
Sinking fund..*..
Miscellaneous.
236,744
166,132
$462,874
$70,168
$526,446
$131,701
(76.58)
(75.94)
10,000,000 10,000,000
6,409,100
6,409,100
8,976,573
4,879,000
Accounts payable121,035
176,501
Bills payable
4,025,702
-Y.L06, p. Sift* 1W.
Sink,
fund
res've.
419,547
14,585
credit Items
9,773
Profit and loss..,..
173,066
,
296,574
14,584
7,103
265,290
2,904
26,123,6T» 28»073,854
10,362
BOSTON & WORCESTER ST. RY. RESULTS FOR YEARS
END. JUNE 30.
Revenue—
1912-13.
451
Rental
and
•
Total
1911-12.
Deduct—
$631,169 $607,612
Mail.l
26.123,679 26,073,854
1912-13.
1911-12.
Interest
.$124,241 $123,450
47,971
48,321
Preferred dividends.
23,687
18,345
Com. dlvs. (2H%)-50,625
50,625.
451
f
Taxes
miscel¬
.
.
laneous
Total
37,318
11,860
..
revenue
$668,938 $619,923
Operating expenses... 417,847
368,401
Net revenue
..$251,091 $251,522
Property
1912.
receiv¬
119,196
y 90,500
76,500
34,066
Pref. stock prem_.
125,851
bonds
♦300,000
26,422
45,000
Taxes accrued
5,508
♦175,000
Accounts payable.
Interest accrued..
8,101
i
on
$9,720
7,944
54,243
44,888
42,375
33,745
39,400
7,880
49,677
Pref. div. reserve.
Profit and
Total
*
1912.
$394,000
2,025,000
2,320,000
Notes payable....
9,916
3,636
and sup¬
Discount
$10,781
1913.
Preferred stock...
$397,200
Common stock... 2,025,000
Funded debt..... 2,460H000
$4,994,734 $4,953,731
46,613
87,274
plies
$4,565
Liabilities—
invest¬
ment
deductions...$246,524 $240,741
Surplus..
BALANCE SHEET JULY 1.
1913.
.$5,264,595 $5,256,965 |
loss...
Total
$5,264,595 $5,256,965
Held by Boston & Worcester Electric Companies.—V.
Pittsburgh (Pa.)
95, p. 815.
Steel Company.
(Report for Fiscal Year ending June 30 1913.)
Pres.
Wallace H.
Howe, Pittsburgh, Sept. 10, wrote:
Additions.—Our two new blast furnaces were put into succ«*ful
operation
In August 1913.
These large and modern blast furnaces represent the last
word in lurnace construction, and from the start made it would seem
that
our
expectations from the standpoint of construction,
cost of
making Iron will be fully realized.
volume of output and
•
,
To provide a supply of iron ore for these furnaces, and to make the
com¬
absolutely independent, by owning its own raw material, your direc¬
tors late in 1912 closed negotiations for a large iron ore.property, situated
in the Cuyuna Range, Minn.
BeJore and since taking over this property,
diamond drilling has been persistently carried on, with the result that
millions of tons of high-grade ore have been proven up and a constant
sup¬
ply of ore for our blast furnaces assured for a great many years.
Outlook.—In the past our net profits have been affected
by violent
pany
fluctuations in the price of raw material
on account of our
being obliged
buy pig iron in open market.
This is now obviated, and our earnings
a substantial increase, not
only from a cheaper cost per iron
but also from the large gain in product from the open-hearth steel
depart¬
ment, owing to our taking the molten metal direct from the blast furnace
Into the open-hearth steel furnaces.
With the completion and putting into successful operation the last unit
(blast furnaces) of a continuous process, we iiow find ourselves in position
to produce a large tonnage of highly finished open-hearth steel products
of a greatly diversified nature, with brands and trade-marks
thoroughly
established, directly from Nature's storehouse.
From all viewpoints the
future of the company seems bright to me.
to
should show
INCOME
ACCOUNT YEARS ENDING JUNE 30.
V
1912-13.
Sales
1911-12.
1910-11.
1909-10.
Inventory end of year.-
$11,654,888 $11,417,869 $11,567,748 $11,506,005
1,143,932
1,277,978
1,046,698
840,091
Inventory beginning yr-
$12,798,820 $12,695,847 $12,614,446 $12,346,096
1,277.978
1,046,698
840.091
675,177
$11,520,842 $11,649,149 $11,774,355 $11,670,919
Materials & oper. cost
(incl. repl., &c.)
$9,193,760
$8,967,870
$9,297,549
$9,311,939
Selling & general exp—
1,186,339
1,369,726
1,209,554
1,103.168
Net
profits
-—
$1,140,743. $1,311,553
Total
Bal.,
$1,255,812
28,782
$1,321,572
$1,273,176
$1,284,594
$254,485
115,187
.1,
dividends.
Preferred
5,924
—$116,626
$1,225,665;
Deduct—
Int. on Ist&genM. bds_
Miscell. interest
Common
$1,267,252
10,019
a84,922„:>w
Total net Income
_
$31,995
$21,184
75,043
* (8 %) 560,000 (8 %) 541,117 (8 %) 496,779 (8 %) 479,520
divldends-_*(7%)735,000(7%)490,000(33^)245.120
$1,326,995
$1,052,301
$933,568
$849,192
$101,330 sur$269,271 sur$339,608 sur$435,402
deductions
sur. or
def
Includes also interest in
1913.
* Dividends not shown in company's
statement, but believed to be correct, the payments at the usual rates
accounting for the difference in the profit and loss surplus in balance sheet.
BALANCE
rights.
Def'd
74,871
"~30", 616
J
$14,917
$14,917
Passenger
a
1912.h
__No par val.
iNo par val.
common shares
Profit and loss, surplus.
1,000
2,555
Total
SHEET JUNE 30.
1913.
1912.
$
First M. bonds
Acer. Int. & taxes.
67,497
1,104
23,485
3,863
Investments...
Accounts receivable.
Common stock..
Preferred
sup¬
plies
Total
—
GENERAL BALANCE SHEET JUNE 30.
1913.
1912.
1913.
$
$
Liabilities—
$
Assets—
Material
—
$605'
Liabilities—
Misc. income (net)
$374,202
$241,542
210,190
$422
34,614
Material
1910-11.
$313,012
638,621
545,529
135,347
,
(7,619 14)
Maintenance of way and structures..
Maintenance of equipment
Traffic expenses
J
Transportation
1911-12.
$336,813
$68,985
'
1918.
33,936 preferred shares
able
YEARS ENDING JUNE 30.
$69,261
—
Balance, surplus
Notes pay. B. & W. St. Ry
$175,000
1st M. bonds B. & W. St. Ry._ 126,000
Accounts
on the Spokane RivOr has a maxi¬
capacity of 20,000 h. p., with a continuous capacity of 15,000 h. p.,
and is furnishing to the Inland Division from 4,000 to 5,500 h.
p.
The
power contract with the Washington Water Power Co. has yet three years
to run.
We are using under this contract 3,800 h. p. (the minimum amount
permitted) on the Coeur d'Alene and Traction divisions.
The Traction
Div. is using 2-500 to 3,000 h. p. and the Coeur d'Alene Div. about 1,200
h. p. from the Nine Mile plant.
We are selling about 4,500 h. p. for com¬
mercial and irrigation purposes at an average of $4
per h. p. per month.
The revenue from commercial power shows an increase of about 50% over
last year.
Recently the company entered into a contract for the delivery
of 3,000 h. p., which will yield $35,000 per year.
This contract is for
secondary power during the eight or nine months of the year when the flow
of water is above the minimum, upon which our continuous
output is based.
Charges to Capital Account.—These, representing additions and better¬
ments, aggregated $150,416.
\
Mileage.—Mileage of traction division increased 2.344 miles, viz.:
Cable Add. line, 17th and Bernard to 33d and Division sts., 1.309 miles;
North Post line, Heroy to Francis St., .469 miles; second
track, .566 miles.
Outlook.—There has been a steady development of the country tributary
to your lines and the crop now being harvested is
very satisfactory.
The
lumber trade has been quiet, but the general outlook is favorable.
$67,872
1,113
20,250com.sharesB.&W.St.Ry.
Prepaid Insurance.
Power.—Our power plant at Nine Mile
-
$69,590
Cash In bank.
mum
revenue.
$69,683
Assets—
Young, Spokane, Sept. 15, wrote in substance:
1911-12.
18,965
Assets—
95,416
26,483,345 26,416,387
1912-13.
dividend*___$G7,872
1,389
BALANCE SHEET JULY 1
taxes are in litigation.
Other
19,058
Total
Earnings.—On the Interurban line, freight business shows an increase of
$23,801, or 7.60%. the passenger business a decrease of $72,917, or
11.41%.
This decrease was nearly all on the Coeur d'Alene Division,
owing partly to a late spring and to the poor attendance at the Alan races.
The revenue received from other sources, mainly from the sale of
power,,
shows a substantial increase over last year's figures.
The total operating
revenue was $1,616,782, a decrease of
$15,727, or .96%.
Taxes.—Our taxes in the State of Washington were increased from
$65,847 in 1910 to $123,813 in 1911 and to $126,441 in 1912, due to a higher
assessed valuation, which our attorneys believe to be
unjustified.
These
Freight earnings,
Passenger
;
Street railway system!..
income
GENERAL
Spokane & Inland Empire RR.
INCOME ACCOUNT FOR
Disbursements—
Preferred
Miscellaneous
Total
38,750
(Report for Fiscal Year ending June 30 1913.)
Pres. J. H.
.
1911-12.
Div. B. & W. St. Ry-.$50,625
Int. on notes and other
Cash In bank
1,616,363
325,000
2,930
Items in suspense.
Profit and loss
120,526
Total
—V.
220,553
1,466,837
,
BOSTON & WORCESTER ELECTRIC COMPANIES INCOME ACCOUNT
FOR YEARS ENDING JUNE 30.
20,000,000 20,000,000
4,079,000
4,068,000
—
2,914
10,913
Items In suspense.
Bills receivable
$
Liabilities—
17,897,939
80,842
.
Res. fund for taxes
$
$
Real est.A stocks. 18,170,743
Road & improv'ts.
1912.
*
practically all new ties that
The block-signal system has
now
Misc.
1913.
of $885 per mile of
average
being laid are chemically treated.
now been
practically completed.
A freight and express service was
inaugurated on the lines of the com¬
pany about Jan. 1, arrangements having been made with the Boston Ele¬
vated Ry. Co. and the Worcester Consolidated Street
Ry. Co. for terminal
facilities in Boston and Worcester.
Freight and express stations have been
established in various cities and towns in which we operate, together with
necessary track connections, and sufficient freight and express equipment
has been provided.
This service has not been established long enough to
justify a prediction as to its value.
The company issued $140,000 additional 1st M. bonds
during the year,
the sale of which reduced the
floating debt of the company to $175,000.
This floating debt is held
by the Boston & Worcester Electric Companies,
and the street railway
company still continues independent of outside
borrowing.
$298,922
sur.$21,223
GENERAL BALANCE SHEET JUNE 30
an
,
27,683
$331,445
sur.$61,754
a After deducting $80,000 for rental
yearly.
*Bopd, &c., interest in¬
cludes in 1912-13,$11,000, and in 1911-12, $13,750,
equipment interest,
similar items in previous years having been charged to cost of equipment.
1913.
or
track owned.
,
A tie-treating plant has been
purchased, and
$320,145
.
$309,740
-.sur.$216,415
15, wrote in subst.:
The gross passenger earnings of the street
railway company show an in¬
for the year of about $24,000, or
4%; $72,889 was expended on
crease
misc.
deductions—
Companies.
(Report for Fiscal Year ending June 30 1913.)
Total income
Co., previous
Total
xcvii.-
$
Assets—
♦Real
est.,plant,&cl7,451,764 14,174,084
Materials & supp.
♦Patent
2,985,677
Chicago real est. M
30,000
777,942
Time & dem. loans
2,084,841
2,223,073
■---
Notes receivable..
Accts. 'recelv.(net)
Total
S
415,500
974,328
496,434
Stocks of sub. cos.
Cash....
330,000
1913.
HabiUties—
2,203,081
2,444,177
Accounts payable.
Profit and loss
941,000
1,524,910
3,650,530
23,646,440 22,914,961
righto
are
1912.
.
$
Preferred stock.__10,500,000 10,500,000
Common stock... 7,000,000
7,000,000
Total
not valued.—Y. 95, p. 888.
30,000
466,000
1,167,101
8,751,860
....13,646,440 $2,914,961
1
Sept. 27
885
CHRONICLE
THE
1913.]
BALANCE SHEET JUNE 3(K
(Conn.) Company.
Torrington
operations of your various subsidiaries for
in earnings largely In excess of any previous year
The
the past year have resulted
since your co. was formed.
Misc.
receivable.
suspense
tariff
Accts.
portant move will probably be
9,271
.acc'd
65,083
payable
susp.,
25,00#
24,012
43,692
37,500
bonds.
cont.
8,111
500
500
accts.,
15,921
11,214
13,370
4,717
Stk. prem. reserve
104,355
3,171
36,433
Main ext. reserve.
31,288
Deprec'n
Surplus
58,980
97,482
14,659
35,00#
81,977
Cash In bank, &c.
&
Under the
ess.
proposed tariff it will apparently be impossible for us to manufacture to
any profit here, but we do not see why the profit of this department should
be decreased after the contemplated move is made.
We believe that, with
normal business and after necessary changes have been made, the profit
of your whole business will not be materially different from the present.
The business of your different foreign companies has shown a small in¬
crease over last year.
The Vienna house is still showing a small loss, due
conditions in the Balkans.
The business of P^xcelsior Needle Co.,
Misc.
9,169
8,787
575~66#
bonds
M.
Int. .taxes, <fcc.
&
prepaid accts._
Ind.)._
Cash(trus.deb.bds.)
The most im-
of our machin
the knitting-needle b
tories abroad and possibly moving some
1st
Debenture
748
80,356
Cash (city
from
to
455
76,100
Bills receivable
Accts.
1st & ref. bonds._
14,228
13,367
Off. furn. & fixt._
Alvord, Sept. 3, wrote in substance:
Pres. John F.
1912,
$1,250,000 $1,050,00#
1,111,000
Capital stock
89,860
136,517
Inventories
1913.
Liabilities—
1912.
.$2,521,170 $1,624,612
Property
31 1913.)
{Report for Fiscal Year ending Aug.
1913.
Assets—
acc'd
reserve.
....
Total...
.$2,781,480 $1,860,623
Vonnegut; Sec., J. D. Forrest.—V. 97, p.179.
$2,781,480 $1,860,623
Total..
Pres., Franklin
Dominion Bridge Co., Ltd.,
Montreal.
{Report for Six Months ending April
disturbed
Torrington, and National Needle
Co., Springfield, Mass., have increased both in volume and profit.
The
Standard Co. has done increased business with largely increased profit.
30 1913.)
30 1913
ACCOUNT SIX MONTHS ENDING APRIL
PROFIT & LOSS
Nov. 1 '12.$316,715 Deduct—Bonuses voted by
shareholders
$5.75#
Net earnings for six months
.
Dividends paid
326,500
ending April 30 1913, incl.
Interest on investments.. 479,008 Approp. inv. & accid. res've 102,409
Balance at credit
Splitdorf Electrical Co. has been moved to Newark, with the excep¬
spark-plug business and the ball-bearing business.
The Stand¬
purchased the spark-plug business of the Splitdorf Co. and the
Excelsior Needle Co. has purchased the ball-bearing business.
We are
unable to make a report as to earnings of the Splitdorf Co., but feel very
sure that we are making some profit and are getting the business into better
shape.
We believe that the Splitdorf Co. will eventually be one of your
The
tion of the
ard Co. has
$795,723
Total surp. April 30
before the capital was doubled up, it
annum.
The new company began
dividends quarterly at the rate of 8% per annum, 2% April
and 2% Aug. 15.
Dividend period now Q.-F. 15.
Total
The old company,
profitable subsidiaries.
very
during the year $92,000 of its own bonds,
Cash bal. on hand Aug. 31, $285,740.
Your company has purchased
are held in the treasury.
which
INCOME
ACCOUNT FOR
Miscellaneous
110,000
15,868
Accounts receivable
new
:
------
i,02i"66&
_
—
$1,516,208
$655,868
$50,000
70,000
(8%)--.
280,00"*
$50,000
70,000
168.000
*
5,947
51,451
on common
31,856
Salaries & directors' fees.
Bonds
purch. (inveetm'ts)
Cap. stk. Splitdorf Ell. Co
«.
-
-
-
30,484
5,076
4,461
$1,401,406
$350,474
$1,892
$151,939
$114,802
$286,741
678.
.
Citizens' Gas
Co.
$21,272
$151,035
of Indianapolis.
{Report for Six Months ending
The fiscal year
J
*
.
having been changed to end June
shows in substance:.
-
30, the
5
,
.prices were at the top our output of foundry coke was decreased from
■37,016 tons in 1912 to 29,738 tons in 1913.
By-Products.—On account of changes in the ammonia apparatus, there
was a serious falling off in the production of ammonia, the total output in
1913 being 278,750 lbs., against 377,674 lbs. in 1912.
The output of tar,
however, increased from 748,831 gallons to 763,431 gallons.
Gas.—Our production of salable gas was 309.353,000 cu. ft., as compared
with 313,743,000 for the 6 mos. in 1912, but the actual sales increased from
266,304,000 in 1912 to 280,819.000 in 1913.
The average amount sent out
per day was 1,694,000cu. ft., the maximum in a single day being 3,472,000,
when we were supplying all of the gas used in the city.
On account of the
floods, it was necessary to produce during the six months' period 9,670,000
cu. ft. of water gas, of which 7,590,000 cu. ft. were used for fuel at our ovens.
On June 30 1913 wo had in use 10,927 meters.
Omitting the gas furnished
total number of meters at the
end of the hair year* instead of the average, the average consumption per
meter was at the rate of 47,500 cu. ft. per annum, comparing with about
cu. ft. per meter for year 1912, both averages being considerably
higher than that of any other gas company in the U. S.
The recent in¬
crease per meter is in part due to the sliding
industrial scale effective
Mar. 1 1913, our not prices on large consumption for industrial purposes,
as well as to the general consumer, being now lower than those of any other
city in the country where natural gas does not enter into the situation,
the new net rates running as low as 40 cts. per 1,000 cu. ft. for all over
43,000
bring¬
by-product
equipment
and the power plant have been about doubled in capacity.
The purifier
plant has been doubled in capacity and more than doubled in efficiency.
A new storage holder, capacity 3,000,000 cu. ft., was put into commission
about Dec. 31 1912.
The improvements at the manufacturing plant during
miles of new main extensions,
ing the total mileage of mains on June 30 to 179.31.
Fifty new
coke ovens have beon completed.
The by-product recovery
the half-year cost
$103,730.
.
»
of the improvements made and in progress
,00) treasury bonds were sqld early in the
stock brought at auction 151.
The bonds were sold
at 95 to a syndicate headed by Gavin L. Payne & Co. to be delivered as
funds should be required.
[When the entire block has been issued $1,470,Financial.—On. account
$200,000 treasury stock and $45
new
year.
The
,000
Therefore the First & Ref.
the Only bonds.
Indianapolis Gas Co.—The quastion of approving the proposed lease of
the Indianapolis Gas Co. (V. 96, p. 1559, 1705) is still pending before the
P. S. Commission, which has indicated that certain conditions would have
to be met before the lease would be approved.
The owners cf the Indian¬
apolis Gas Co. have consented to a reduction of rental below that to which
they would agree prior to the purchase of the stock of that company by
them, and it is hoped that the Commission will approve the lease.
Mean¬
while, competition continues.
At the time of the Hoods, which completely
from
stopped the operation of the plant of the Indianapolis Gas Co.
March 25 to 28, we sent to that company 6,431,000 cu. ft. of gas, sup
I„
ing
the entire amount consumed by the citizens of Indianapolis on some of the
■days named.
Since that time and pending the completion of the by-prod¬
uct coke ovens of the Indianapolis Gas Co., your company has been sup¬
000 of the bonds will be
outstanding.-r—Ed.l
On Jan. 1, 1913 the $60
.
_
...
SS,540,044 S6,750,065
Total.
Trust Co. holds 2,740 fully-paid and non-assessabl*
of selling the same to the employees of the company
on an installment plan.
Any profit over the purchase price resulting from
the 6ale of such shares will inure to the benefit of the company.
Note.—The Royai
Data Furnished to
"Chronicle" by Secretary R. Montague
1912 the company
acquired all the stock of the
—Calendar
1911.
Other
income
Total...
Yrs.—
1912.
..
.
Company, Baltimore.
Canton
{Report for Fiscal Year
Pres. W. B. Brooks on
ending May 31 1913.)
substance:
June 12 reported in
$323,168
551
$704,286
$815,423
Our
plan for the improvement of the water-front lying west of 10th St.
delayed, awaiting developments with our neighbors, the Pennsyl¬
This matter is now in progress, and we hope that these im¬
has been
vania RR.
provements will be completed during the coming year, putting us in posses¬
a large additional tract of water-front with improvements of value.
A new five-story warehouse has been constructed at 2023-39 Aliceanna
sion of
Improvements have included:
Langrall & Bro., extension of pier
St., and is now under lease at a fair rental.
At 2105-15 Aliceanna St., occupied by J.
portion of the building, which will make the prop¬
erty a more remunerative investment; at 2219-23 Boston St., occupied by
The Lord-Webster Co., increasing length of pier and improving property;
the company named has entered into a lease for a term of years; practically
re-construction of property at 2211-13 Boston St., occupied by J. Ludington
& Co.; this property will bring us in a much larger revenue than heretofore.
We have bought, the property at O'Donnell and 16th Sts., comprising
about 19 acres of land, and one acre from Isaac Hendler, owing to th«
extension of our railroad, and expect a fair return on the investment.
The Canton RR. has been extended over the territory between the harbor
water-front and Back River, which will make marketable a section hereto¬
fore inaccessible and creates a number of factory sites.
This property has
and re-construction of a
been in
our
and has been
hands for many years
unavailable and producing
"
little revenue.
traffic arrangements with the Penn.,
the B. & O. and the Western Maryland railroads, which enable us to offer
factory sites (on the Canton RR.) to which any railroad coming into Balti¬
more will deliver cars on the flat Baltimore rate'without any additional cost.-.
There has been a general improvement in the factories and manufacturing
in Canton during the year, and we feel encouraged as to the outlook.
W#
have practically no unimproved property vacant.
The Canton
RR. has entered into
RESULTS FOR
Income
Ground
rents
2
—
Farm and lot rents
Wharf rents
-
House rents
Wharfage, warehouse,&c.
1
$49,782
15,418
51,436
1,519
6,964
18,669
Interest
Sand, gravel, &c
Sundry
YEARS ENDING
1913.
from—
exp.
1,259
3,866
1911.
1910.
$51,091
15,485
14,775
*2,461
1,351
5.478
7,618
$49,721
12,097
51,63*
1,407
3,302
5,574
1,591
2,063
52,480
1,228
7,282
12,920
1,654
837
4,234
2,669
149,061
7,527
112,965
1,712
139,915
2,292
121,110
51,499
18", on
99,048
2,858
$306,773
refunded—
*401,526
$311,490
$247.31#
$246,101
*134,132
$32,931
$130,288
Bills receivable
Perman't impts.
MAY 31.
1912.
$49,329
refund..
Sales of real estate
Sales of annuities
1,272
2,601
$399,380
4,964
$421,022
20,108
$404,344
$441,130
$344,904; interest on '
...$371,675
"
Net profit for 6 months ending June 30 1913
For the 6 months ending June 30 1913 sales
-
$69,455
(total $421,022) consisted
of: Gas, $159,002; coke, $211,943; ammonia, $24*644; tar, $25,433.
Other
income ($20,108) consisted of interest and discounts, $15,929, and miscel¬
laneous profits, $4,179.
'
* •
.
'
f
Deductions—
accfc.,
new buildings, grading,
real estate purch., &c—
Permanent improv.
$323,719
Operating expenses and taxes 6 mos. 1913.
bonds, $26,771; total.........
•
During the fiscal year there have been two dividends declared from
income, namely July 1 1912, $2 per share, and Dec. 31 1912, $2 per share.
There are now outstanding 22,163 shares of stock..
'•
" -
AND 1913—
—Siz Mos. ending June
30—
1911.
1912.
1913.
$800,975
14,448
National
Ltd., with the exception of 15 shares, and gave in
$200,000, par value, of its stock.
At tbe time of the
p irehase there were outstanding $585,000 par value of the 6% 1st M. bonds
of the National Bridge Co.
[These bonds were not acquired and are still
in the hands of the public, being, it is said, part of an autnorized issue of
$3,000,000 6% 1st M. 40-year sinking fund bonds.—Ed.}
The company has branch works and offices at Winnipeg, Man., and at
Toronto and Ottawa, Out., and has an output capacity at its main plant
in Lachine Locks, P. Q.t and the above branches of $120,000 tons per
annum.
The output capacity of the National Bridge.Co. is 12,000 tons
per annum.—V. 84, p. 1430; V. 95, p. 483.
Total income
EARNINGS SIX MONTHS ENDING JUNE 30 1911. 1912
CALENDAR YEARS 1911 AND 1912.
Davy.
obtained a charter under date of July 31 1912 from the
the purpose of acquiring, for a priceof $5,200,000,
the entire undertaking and plant of a company of the same name chartered
in September 1882.
In October 1912 a new issue of stock was made in the
proportion of one new share for every five shares then held, for which cash
amounting to $1,640,000 was paid into the treasury. .
The company
Dominion Government for
plying it with a large amount or gas.
..$695,262
9,024
613,957
316,715
2,300
$8,540,044 $6,750,0661
Total
% 1st M. bonds were called for redemption.
M. 5s are now a first lien and, except for a few debentures,
Sales
619,394
18,698
&c
taxes,
of 6
„
361,074
_
Unexp. ins.,prem.,
In December
Production.—Normal production was interfered With by new con¬
struction work, but chiefly by the interruption of the regular coal supply
on account of strikes and floods, ethe total output of coke
was reduced
rom 59,056 tons in
1912 to 58,451 tons in 1913.
This meant a diminu¬
tion in net income of from $7,000 to $10,000, since at a time when coke
200,000 cu. ft. per month.
,Construction.—We completed 4.35
Surplus.
Investments
1
807.023
7,200
200,000
38,682 [
94,179 J
957,176
Accident insur
exchange therefor
Coke
Indianapolis Gas Co. and taking the
388,934)
Deprec. & renew.
Accidents In erec.
Bridge Co. of Canada,
June 30 1913.)
six months' report
to the
773,107
1,458,366
1,053,259
...
Reorganiz'n acct..
$342,465
$18,999
$285,740
1 '12,
$5,200,00#
Apr. 30 '13. Nov.
Liabilities—
Reserve*—
shares for the purpose
-
$636,869
payments
Balance, surplus
Cash balance, end year..
—V. 95, p.
'
101,525
expenditures
Total
.
100,000
13,028
Loans to sub-companies.
Other
V
91,985
A
1, 2% May 15
1913.
30
Accts. & bills pay.
on
contracts......
$363,737
$50,000
70,000
160,000
6,100
51,904
$352,366
$50,000
70,000
228.000
31,397
140,000
750,000
1913.$361,073
is said, paid a
in April 1913
Capital stock.....$6,500,000
&c_$3,447,400 $3,221,347
Invest. In oth. cos. 1,85/,554
1,234,245
68,558
11,325
Cash.
93,811
68,747
Depos. on tenders.
535,198
631,972
Accts. & bills rec..
20,000
*•
SHEET APRIL
plant,
Inventory
Interest paid on bonds._
Dividends on pref. (7%).
Divs.
*.
BALANCE
machinery,
Expenditures
Excelsior NeedleCo. div_
Total receipts-
$229,241
4,496
110,000
4,848
110,000
'
145,000
repaid.
capital stock.
Loans to subsids.,
$237,518
>
82,153
income
Rentals
per
Apr.30'13. Nov. 1 '12.
Assets—
Real estate,
1909-10.
1910-11.
$360,286
24,922
•110,000
$352,848
Dividends from sub. cos_
Sale of
1911-12.
15%
GENERAL
SEPT. 1.
YEARS ENDING
THE
1912-13.
Receipts—
of
dividend
34
(4%)88.652
29,238
91,376
$429,389
$375,816
Bills receivable
Total
deductions
Balance for year.,
'
p.
483.
7,159
23,58#
28,421
23,540
27,508
(3K)77,570 (3)4)78,064
'
112,965
$275,507
$268,249
dof.$122,616 sur.$25,710 sur.$35,983
del .$20,939
$164,401
$128,508
In bank at end of year.
—V. 95,
737
959
1,425
5,651
27.533
27,044
Roads, streets & sewers.1,354
Sundry exp. & repairs—
6,735
Salaries, office exp., &c__
29,675
State, city & county taxes
27,634
Dividends
; (4 % )88,652
$67,585
*190,201
880
CHRONICLE
THE
The Premier stated that the proposal was satisfactory to all the parties
Virginia Iron, Coal & Coke Co., Roanoke, Va.
concerned, including the Government.
A bill to repeal the expropriation
Act of 1910, by which the proceeds of the bonds were taken by the Province,
and which was declared ultra vires by the Privy Council at London,
was
(Report for Fiscal Year ending June 30 1913.)
Pres. John B.
Newton, Roanoke, Aug. 18, wrote in subst.
given
Results.—Although the year 1912-13 started out full of encouragement,
the demand for iron had by Dec. 31 fallen
off, prices dropping until in May
1913 the low level of 1911 was reached.
The market remained weak through
to-day, while it is by n© means strong, there is a better
feeling and indications point to more demand and better prices.
During
the few months of active market we booked sales of
230,000 tons of iron,
at fairly remunerative prices.
June and July;
The blast furnaces at Radford and Roanoke were
operated continuously
and the Pulaski furnace for six months of the
year, producing a total of
130,435 tons Of coke iron, while the charcoal furnace at Foster Falls turned
2,912 tons of cold-blast charcoal iron.
On June 30 1912 we had 163,826 tons of pig iron on hand; on June 30 1913 only 60,000 tons, we having
shipped from current make and out of stock a total of 237,608 tons.
out
Our
coal
business has
continued
to
both in volume and profit.
The mines produced 1,840,213
tons, at a profit of $353,655, as against
1,563,284 tons at a profit of $309,419 the preceding year.
At Toms Crelek
(your largest operation) the most modern all-steel tipple obtainable should
be completed by Oct. 1 of this
year, substantially increasing production.
Exchange of Coal Lands.—We have concluded negotiations with
the
Olinchfield Coal Corporation for the exchange of certain interlocking coal
lands in Wise County, Va., making it
practicable to mine the maximum
amount of coal with the least
possible waste.
'
•
Bonds.—We have retired by purchase
$21,000 additional of our 1st M,
bonds, costing $19,959, and 21 Carter Co. bonds, costing $22,143.
Financial.—We haye been able, through the reduction in our stock of
pig iron, to reduce bills payable $764,000 and increase our sales ledger bal¬
ances $398,589 and our bills receivable
$57,000, and in addition to purchase
from the Inter-State Coal & Iron Co. for
$187,500 the coal property, in
fee simple, formerly covered
by our Inman lease, and known as Inman
mines.
We purchased during the year new
equipment amounting to
$60,000 and real estate amounting to $30,000.
Purchase.—The Inman purchase was of especial importance to us since
during the lease we had expended over $200,000 in the construction of
175 coke ovens, 179 dwelling houses for miners, storehouses, &c., all of
which would have had to be removed or
disposed of on the expiration of
the lease.
The property still contains from 3,000,000 to 4,000,000 tons of
minable coal, upon which, under the lease, we would have had to pay 10 cts
grow,
per ton royalty as same was mined.
Now that we own this property, we
confidently expect to save enough royalty on coal mined to pay the interest
and principal on the purchase
price, leaving the improvements available
for use at
our adjoining Linden mines.
'
Depreciation.—The plants and equipment have been fully maintained,
there having been charged against
Operating expenses for depreciation of
plants, equinment, ore lands and coal lands, a total of $318,292, while
additions and permanent improvements
aggregated $149,503.
•
EARNINGS FOR
YEAR
-Year
Operation of—
Gross.
Net.
def.$29,095
def.11,670
308,419
2,854
180,539
~~5~, 304
181,331
$4,331,263
$581,830
$2,893,214
ovens
Saw mills
1,378,802
242,567
296
,
mills_____^__.
.™
83
.
"8,009
$278,517
„
1912-13.
Misc., mdse., dis., &c.
Deductions—
Taxes
Bond
$336,235
6,187
29,318
$517,879
7,856
33,147
$312,159
$371,740
I $558,882
112,809
13,111
$50,500
265,638
22,348
51,758
60,691
53,594
90,519
14,190
302
168
245
399
2,83£
28,044
25,044
23,371
129,048
discount..
Dead rents and contracts
Miscellaneous
Development
Total
$57,069
264,513
23,792
65,490
'91,155
103,160
2,674
Expenses of idle plants.
Deprec'n of idle plants. \
Depr'n of active plants}
and
1909-10.
$278,517
9,822
23,820
$57,337
262,688
28,191
71,439
126,359
interest
Insurance
Interest
1910-11.
$616,897
Total net income....
■>
deductions
$49,280
267,082
19,602
151,202
65,270
73,146
39,457
$654,988
$685,199
$634,527
$688,809
$38,091
$373,040
$262,787
$129,927
Operating accounts were charged during the year with $318,292 for de¬
preciation, viz.: Depreciation of ccal lands, $100,708; deprec. of ore
lands,
$3,749; deprec. of impts. to leased properties, $62,772; deprec. of impts. to
owned properties, $151,064; also with
furnace repairs, $33,347.
There was spent $149,503 during the year for
improvements to owned
and leased properties,
viz., impts. to owned properties, $126,792; impts. to
leased properties, $22,712; repairs to
furnaces, $109,855. • '
Loss for the year.......
,
BALANCE
1913.
Assets—
.
$
Real e.3t. & plant.
SHEET JUNE 30.
1912.
.
$
.12,595,009
12,632,985
Equipment
411,147
352,114
Securities owned..
197,363
Sales ledger bal.
Bills receivable.
,
747,169
104,142
230,663
348,580
43,862
167,456
..
Cash...__.L.._...
57,346
1,753,755
Materials..
Miscellaneous.
Profit and
95,401
—.
loss...
Total
1,229,804
3,026,517
124,269
1,039,502
l^.191,136 17,965,948
-V, 95, p. 822, 1204.
1913.
'
1912.
6
Liabilities—
Capital stock
■
•
"
S
$
lo.ooo.ono 10,000,000
First mtge. bonds
4,835,000
4,856,000
Prior lien bonds.
398,000
419,000
....
.
.
Unpaid
vouchers.
Unpaid
pay-rolls
Accounts payable.
Bills payable
251,806
89,132
Interest accrued.,
219,162
9,850
.
1,522,056
10,123
2,286,056
85,292
86,104
69,503
Furnace-repair fd.
Total
Atchison Topeka &
20,000
........117,191,136 17,965,948
INVESTMENT
192-3
among
RAILROADS, INCLUDING ELECTRIC ROADS.
Alaska Ry. & Terminal
Court has appointed T. L.
Co.—Receivership.—The Superior
Bigger, representing1 Philadelphia
capitalists who were interested in the company, known as the
Bruner RR., receiver on a complaint under a
$100,000 claim.
•
The company was incorporated about 7
years ago to tap the
fields. Liabilities are reported as about
Bering River
$600,000, with little assets
Alberta & Great Waterways
Ry.—Proposed Settlement.—
Premier Sifton
S^pt. 22 presented to the Alberta Legis¬
McArthur, railway contractor, of
Winnipeg^ containing a proposition for the settlement of all
questions in dispute and the construction of the road.
lature
a
on
letter from J. D.
Mr. McArthur, who is
building the Edmonton Dunvegan & British Co¬
Ry., proposes to take over the project on terms
satisfactory to the
representatives of the bondholedrs and the
Royal Bank, and to construct
aline between Edmonton and Fort
McMurray, via a route approved by
the Government, the specifications to be
similar to those of the Edmonton
Dunvegan & B. C. Ry.
If the mileage between the terminals does not
exhaust the guaranty, the remainder will
be used for branch lines on similar
terms, to be later specified by the Legislature. • The Province is to
pay the
difference between interest earned
by the money in the bank at 3M% and
the guaranty by the
Province at 5% due to the bondholders.
All sums
properly payable on claims filed with the Government will be
assumed
lumbia
by
the contractors, who
stipulate for an extension of time to
for two years from Dec.
31 next, and agrees
before that date.
*
the
farmers
bill based
complete the work
to~commenceiactual work
**
on
McArthur's
Mr.
•
Santa Fe Ry.-r-Pres. Ripley says:
be more serious.
However, we expect to get
more business from the California citrus
may
,
Mr. Ripley is quoted as saying that he does not look for any receiver¬
ships among the Western railroads, but that caution is necessary.—V. 97»
p. 666, 519.
'
\
■
-
.
,
,
Boston
.
&
Albany RR.—-Maturing Bonds.—The prineipal of the $3,627,000 4% bonds due Oct. 1 1913 will be paid
at maturity at the Old Colony Trust Co., Boston, the interest
at the office of Treasurer, South Station, Boston.
In their
stead are issued $3,627,000 5% 50-year bonds.
See offering
of same, V. 97, p. 116.
Central
June 30.
of
Georgia Ry.
Co.—Earnings.—
Gross
Net(after
Other
Int. ana
Preferred
Balance.
Taxes).
Income.
Rentals.
Dividends.
Surplus.
1912-13.$13,854,872 $3,004,853 $725,999 $2,507,389 $900,000 $323,463
1911-12. 13,932,153
3,451,977
742,796
2,528,580
1,666,198
—V. 97, p. 666.
"
■
J
Year— Earnings.
,
.
.
Chicago Indianapolis & Louisville Ry.—Earnings.—/
June 30.
Gross
Net (after :■
Other
Fixed
Balance.
Year—
Earnings.
Taxes)1.*11"*: lit come.
Charges.
Surplus.
.—$6,985,944
$1,587,968-'$264,601
$1,314,208
$538,361
1911-12
6,503,653
1,450,296 I(199,523
1,240,659
409,160
During each of the fiscal years theflre were paid from accumulated surplus
...
dividends of 4% on the preferred tetbek ($199,752 in 1912-13. against $200,000 in 1911-12) and 314% on the common ($341,136 in 1912-13, against
$341,250), leaving a deficit of $2,527 in,J912-13, against
090 in 1911-12.—V. 95, p. 968, 1118.
a
deficit of $132,-
f
Chicago Milwaukee & St.
Paiiliity.—Reported
Plans.—
Persons interested in the company have, it is
reported,
discussed the making of a new refunding mortgage to pro¬
vide for all of the outstanding obligations of the system and
to
come
up
is not stated.—V. 97',
799, 819, 520.
p.
Cleveland Cincinnati Chicago &
St. Louis Ry.—Ap¬
plication.—The company has applied to the Ohio RR. Com¬
mission for authority to issue $758,000 gen. M. 4% bonds and
to sell the same at 81 instead of 78, the
price named in the
application last month (V. 97, p. 520).—V. 97, p. 594, 520.
Decision.—Judge
Riner in the U. S. District Court at Denver, Colo., on 8ept.
24 sustained the validity of the sale to the
company at auc¬
tion on Nov. 23 last of $737,150 stock of the Rio Grande
Junction Ry.
>
The suit was brought by the Central Trust Co. of N. Y., trustee under
the Colorado Midland
p.
Ry., who claimed that the sale
798, 811, 728.
■
.
y
was
illegal.—V. 97,
-
Detroit Toledo & Ironton Ry.—Receiver to Resign.—
George P. Johnson, who has been receiver since Mav 10 1912, has notified
the Wallace (Ohio Southern Division) and Bannard (Northern and Southern
Division) reorganization committees of his desire to resign.
The two com¬
mittees are endeavoring to agree upon a new plan which will be
satisfactory
to both interests in place of the separate plans issued some months since.
This, it is stated, will likely take some time, and meanwhile Mr. Johnson
may remain in charge of the road.—V. 97, p. 802, 298.
Dominion Power & Transmission Co., Ltd., Hamil¬
ton, Ont.—Status.—Nesbitt, Thompson & Co.,Ltd., Mon¬
treal, ave issued a circular showing the companies controlled
through stock ownership,
follows:,
as
*
.
(a) Hamilton Radial Electric Ry., 30 miles suburban line Hamilton to
Oakville; (b) Brantford •& Hamilton Electric Ry., 23 miles, Hamilton to
Brantford.
Extension
to
Gait
projected,
(c) Hamilton
Street
Ry.,
entire street railway system in City of Hamilton.
Franchise expires 1929,
but renewable.
Extensions in progress,
(d) Hamilton & Dundas Street
Ry.
(e) Hamilton Grimsby & Beamsville Ry.
(f) Hamilton Electric
Light & Cataract Power Co., lighting and power business in Hamilton,
Ont.
(g) Dundas Electric Co., lighting and power business in Dundas.
(h) T incoln F.lec. Co., lighting and power business in St. Catharines, Ont.;
0) Western Counties Elec. Co.
(k) Brantford Electric & Operating Co.,
lighting and power business in Brantford.
(1) Welland Electric Co., elec¬
tric light and power business in Welland, also for Welland Canal,
(m)
Hamilton Terminals Co., owning valuable terminals and real estate in
Hamilton, also head office of the company.
Thus operates 83 miles of interurban and over 25 miles of city railway
lines, a total of 108 miles, and also supplies light and power to Hamilton
Brantford, St Catharines. Welland, and intervening territory, serving a
population of over
175,000;
also has a very valuable water power at
Decue Falls, 33 miles from Hamilton, with a present generating capacity
of 56,600 h.p., and three transmission lines, the last one erected in 1912 of
steel towers on its own right of way.
.
.
*
and
Net
Earnings
Since
1908.
Gross earnings..$1,600,312
Net earnings
625,671
NEWS.
•
coal
a
from $2,500,000 to $3,000,000
fruit crop than we did last year.
Gross
GENERAL
Sept. 23. and
1228.
Denver & Rio Grande Ry.—Favorable
1911-12.
$581,830
16,145
18,922
_
on
We look for some decreases in gross revenue this fiscal
year, as compared
with last year.
While the short crop of corn in itself is not a very serious
traffic factor to Atchison, its effect upon live stock and general conditions
INCOME ACCOUNT.
Net earnings from oper_
Farms and farm rentals.
second reading
a
letter introduced.—V. 96, p.
also for the future requirements for a long time to come.
No
official action has yet been taken and how soon it is
likely
1911-12-
$1,019,840
70,591
Coal mines
Total
-Year
Net.
*
SO.
$185,828
1,182
353,655
35,861
$1,986,679
102,555
1,616,465
444,729
Foundries
Grist
JUNE
1912-13-
Gross.
Furnaces
Coke
ENDING
XCVI1.
1908
1909..
?.
(Increase
in
.1910.
Net
1911.
Over
92%).
1912.
$1,691,696 $1,948,510 $2,252,883 $2,563,371
727,747
861,323
1,020.643
1,204,000
The gross earnings are derived in the following proportions:
City rail¬
ways, 21%; interurban, 21%; lighting, 22%; power, 30%; sundries and
terminals, 6%; total, 100%.
"X .v
For capitalization, &c., see "Electric Railway Section" issued
to-day;/
and report, V. 96, p. 647, 716.
t»u: i.
-
Erie RR.— V ew Directors
-If:
—
.
Davison of J. P. Mor¬
& Co. and E. J. Berwind, "Prest. Berwind-White Coal
Mining Co., have been ele^&Tdirectors to succeed H. McK. '
Twombly, who died in 1910, and V'ice^Prest. G. A. Richard¬
son, who was temporarily rebe^d from duty last year on
account of ill-health.—V. 97, p. 728y 439.
gan
,.
Gainesville
Midland
Ry .--Application.—The company
ias
applied to the Georgia RR. Commission for authority
to issue $233,000 1st M. bonds and $325,000 3-year 6% notes.
Part of the money will be used to
from Bellmont Junction to
standard-gauge the portion of the line
Monroe, 32 miles.—V. 82, p. 751.
Honolulu Rapid Transit
& Land Co.—Pref. Stock All
of 2% (the rate
in effect since March last) has been declared on the stock,
Converted— The
usual quarterly dividend
"
payable Sept. 30 to holders of record Sept. 27.
The com¬
pany announces that all of the pref. stock has been converted
into common stock, which now stands at $1,207,500.
Com¬
pare V. 96, p. 1629.—V. 96, p. 1701.
,•
-V
.
,
27
NiiPT.
RR.—Application to
Central
Illinois
List.—The
Ry.—Construction.—The
469),
which was organized to handle the bonus for terminals,
Sept. 16 issued a statement to the effect that the M. O. & G.
officials must make some reliable showing by Oct. 15 of their
ability to construct the proposed line between Oklahoma City
and Henryetta, or subscriptions to the bonus fund would be
returned to subscribers .&
Gulf
directors of the Oklahoma City Terminal Ry. (V. 93, p.
Interborough Rapid Transit Co.—New Directors.—
T. DeWitt
Oklahoma
Missouri
com¬
has applied to the New York Stock Exchange to list
$8,468,000 additional Louisville Division & Terminal 314%
bonds, due 1953, and $3,000,000 additional refunding M.
4s, due 1955, making the total amounts to be authorized
$22,788,000 and $35,740,000, respect.—V. 97, p. 733, 724.
pany
_
•S87i.
THE f CHRONICLE
1918.]
Cuyler, Edward R. Bacon, Edwin S. Marston and Daniel G.
to succeed Gerald L. Hoyt,
Young and to fill a vacancy.—V. 97, p. 725, 729.-
that by the time litigation was disposed of "conditions
and in this country, to say nothing of the poor crop condi¬
had became such as to make it practically impossible to
raise more money in France, where the M. O. & G. was financed. Announce¬
ment was made from time to time by officials of the M. O. & G. that they
had not abandoned the intention of building to Oklahoma City, but were
only waiting for the Balkan w ar situation and other complications in Europe
to clear up so that work could be started."
Compare V. 97, p. 444.
The statement says
Reid have been elected directors for 3 years,
John Peirce and Geo. W.
both in Europe
744,
tions in Oklahoma,
450.
International &
Great Northern RR.—Deposit of Old
Broad St., N. Y., invites
Great
Northern RR. who did not become parties to the reorgani¬
3dM. Bonds.-—A. S. H. Jones, 25
holders
of 3d
bonds of the old International &
M.
plan of 1911 and receive stock in the
zation
sold
the inside interests owning a
majority in interest of the
depositors.-mV. 97,'
p.
gold bonds, guaranteed, principal and interest, by the Dela¬
ware Lackawanna & Western RR. Co.
Dated Dec. 1 1900
and due Dec. 1 2000.
Interest payable J. & D. in N. Y.
Par $1,000
the property and guaranteed principal and
on
the stock (now $15,000,000).
729, 521.
dends
Nashville
requested the Attorney-General to institute ouster pro¬
Pennsylvania company to continue
in the past, the lines within the State bf N. J.—V. 97, p. 595.
The Board also
V. 97,
p.
365.
Record of Common Stock (Per Cent).
1911.
1912.
1913.
3
334
534
Feb., 1H; May, 3; Aug.,
Also special dividend of 11% May 15 1912.
See V. 94, p. 1449; V.
p. 1608.—V. 96, p. 863.
.
•.
Bonds.—-The
A.-
Belden of
under
Circulars describing and offering the bonds are not yet
Must Be Prac¬
Unanimous.—The receivers of the St. Louis & San
Francisco have stipulated that the plan outlined last week
shall not become operative unless the bondholders shall
give practically unanimous assent thereto by depositing
their bonds or certificates of deposit with the Girard Trust
Co., Philadelphia, or the 'Columbia-Knickerbocker Trust
tically
ready.
1st &
Dallas &
ref; mortgage
The bonds are
Pacific
Denomina¬
issuable at
Gulf
road
$420,000 are reserved to retire the $420,000 Memphis Paris &
1st M. 6% bonds dated Jan. 1 1908 and the remaining $2,165,000 for
once,
acquired or constructed and completed at
in 5-mile sections.-—V. 97, p. 237.
Middletown
&
Unionville
the rate of $18,000 per mile
Water
Gap RR.—Plan.—
Susquehanna & Western, having given notice
that it will discontinue operating the road, the bondholders'
committees have prepared a plan providing for the inde¬
pendent reorganization of the property, and this plan is now
before the N. Y. P. S. Commission for approval.
A cir¬
cular sent to the depositing 1st and 2d M. bondholders
gives the depositors till 3 p. m. Oct. 10 to dissent from the
following plan:1
;
The
N.
Y,
..
Data
future
under
non-cum.
from
.
1913.
G. Starr.
Rober
90
mittee.—V* 97. p. 803.
Broad
St.,
is
Secretary
1
«.
...
realized.
The first section of this
development, comprising over 33,000 h.p., and including the
lines necessary to convey this energy to the market, will be
before the close of this year.
4
earnings
&c.,
$300,000
transmission
in operation
A
Earnings for Year ended June 30 1913.
Gross
*
$15,384,4971 Int. on bonds now out
,
Net, after taxes
__y
6,471,9871 Interest on these notes—
*
$3,902,890
270,000
Balance, surplus, over total present interest charge...$2,299,097
Annual sinking fund requirements on bonds amounts to approx. $800,000.
Note Issue.—These $4,500,000 6% notes, in addition to being a general
—
-
A. F. Hockenbeamer
capacity of 190,000 h.p., notably, a hydro-electric development on the Yuba
Bear rivers, upon which it had to Aug., 31 expended $5,169,000, but
adjustment income bonds, callable
y.1. .A 11". - - Hi - -
Mar. 1
Francisco.—Notes
San
Furnished, to Bankers by 2d Vice-Pres.
San Francisco, Sept. 20 1913.
from which no return has as yet been
and interest
250,000
The depositing 1st M. bondholders will receive at their option either new
1st M, bonds for the deposited bopds, exclusive of interest, $ for $, or 95%
in casn.
The depositing 2d M.J bondholders will receive for each $100
2d M. bonds $100 in adjustment bonds and $50 stock.
The 2d M. com¬
mittee, having, in order to protect, the.property, purchased more than a
majority of the outstanding 1st M.'bonds, and borrowed the money from
the Empire Trust Co. to pay for the same, has contracted to sell to Garrett
T. Townsend, at 95 and int., all the $200,000 new 1st M. bonds, and he has
agreed to sell back to the committee at the same price as many thereof as
will be required to make the exchange with the depositing 1st M. bond¬
holders.
The committees will receive as compensation $25,000 stock.
Present issues $150,000 1st M. and $250,000 2d M.
An agreement has been reached with:the N. Y. S.& W. RR.Co. and the
Erie RR. by which the reorganized company will have the use in perpetuity
both of the terminals in Middletown and of the 1 34 miles of track used in
entering that, city, by assignment of lease of same with consent of the lessor
(theN. Y.Ont. & Western RR.) and otherwise, and the N. Y. S. <fc W. RR.'
sells t-o the 2d M. committee $55,100 of the 1st M. bonds at 75 and int.
from Mar. 1 1913, and will pay into court the net income of the property
at par
803.
Co.,
and
of New
extensions,
betterments, equimnent,
restrictions of mortgage $275,000.^^
20-year 6%
p.
fenerating capacity of 184,327 h..p., 90,227 h.p. ofan aggregate generating
which is hydro-electric,
t also has under construction water powers with
__
2d M.
Electric
operations extend into 30 counties of California, having an area of
37,452 sq. miles and a population at the 1910 Census of 1,324,476, includ¬
ing the cities of San Francisco, Oakland, Sacramento, San Jose and 208
other communities.
The company has electric-power plants with a total
„
Capilaiization
&
Our
Company.
Common stock in $100 shares, to be held in 5-year voting trust
with right in majority of voting trustees to sell the same
-.$150,000
1st M.,20-year 6% bonds (Empire Trust Co., trustee).
Total
auth. issue $500,000.
Immediate issue to be
200,000
Reserved
for
corporate requirement^,
$25,000: for
Proponed
—
Gas
Offered—Subject to approval by Cal. RR. Comm., N. W.
Halsey & Co. and Harris, Forbes & Co. offered recently
at 9914
and int., yielding about 634%,$4,500,000 6%
gold notes, dated July 1 1913 and due June 25 1914* but re¬
deemable at any time at 10014 and int.
Interest pavable
Jan. 2 and June 25.
Par $1,000 c*.
Trustee, F. N. B,
Close
(V.-Pres.
Bankers Trust Co.), New York.
On
Sept. 24 it was announced that the entire amount had been
disposed of.
subject to call at 101 and int. on any interest day (Jan.
and July 1) up to Jan. 1 1918 and at 103 and int. thereafter;
tion $1,000 and multiples (c*).
Of the bonds, $1,015,000 are
See V. 97,
Co., New York.
Gulf RR.—-Details of Mortgage.—
recently made to the Mississippi
Valley Trust Co. of St. Louis, as trustee, secures an author¬
ized issue of $3,600.000 30-yr. 6% gold bonds dated July 1 '13.
Memphis
RR.—Possible Bond Issue.
Ozark & Cherokee Central Ry.—Assent
issue of $1,000,000 bonds of
preferred stock petitioned for will, Jwhen issued, become the property of
New
Hampshire Electric Railways, and will not be ofered to the share¬
The
as
New Orleans Great Northern
$330,000 will be held to retire the
holders.
evpenses,
—Inquiry, it is stated, was recently made in London with
the view of placing ablock of $500,000 bonds.—V. 95, p. 1605.
letter
week
Massachusetts Northeastern,
outstanding $230,000 of the Citizens'
Electric Street Ry. Co. and $100,000 of the outstanding bonds of the Amesbury & Hampton Street Ry. Co.
The balance will be sold to retire the
floating debt of New Hampshire Electric Railways.
The common and
new
the earnings were not equal to the op¬
and th% road should be sold at once."
operation,
Receiver Pitney has, it is said, announced that the road will cease to be
operated after Oct. 5, as it lias been impossible to raise sufficient money
to put the same in proper repair.—V. 96, p. 1630.
-s -
caption of that company (p. 803), says:
Of the
on
erating
Street Ry. Co.—Bonds,
Haverhill, Mass., President of
this subsidiary of the New Hampshire Electric Ry., in
of Sept. 22, confirming the statement published last
Jersey
road in
on
Northeastern
Massachusetts
Ac.-—David
Sept. 30
on
2H
95,
& Pennsylvania RR.—Sale.^—Vice-Chan¬
Sept. 16 held that unless the consent of all
the bondholders could be obtained the proceeds of receiver's
certificates should not, be permitted to be used to keep the
New
cellor Stevens
authorizing an issue of
$500,OO0 bonds for improvements, of which $300,000, it is
reported, will be issued at once.—V. 95, p. 553.,
stockholders will vote
1910.
1909.
July, 1
;
RR.—New
Pennsylvania
&
Ry. & Light Co.—Dividends.—A
paid on $4,000,000 common Aug. 30.
Dividend
Sale.—The
Sept. 10 for $250,000,
bv David G. Joyce,
James Stanley Joyce and Frank P. Leffingwell, of Chicago,
representing stockholders who controlled the road.
Com¬
Maryland
(Tenn.)
dividend of 234% was
property was bid in at receiver's sale on
the upset price fixed by the Court,
pare
interest of bonds and 7% divi¬
($17,-
These Refunding bonds
594,000 outstanding) are a lien on the entire property, subject to $5,000,000
7% bonds, due May 1 1914, and $11,677,000 7% bonds, due June 1 1915,
to retire which Refunding bonds are reserved.
After June 1 1915 these
Refunding M.bonds will become a first lien on all the property, including
118-07 miles of road (101.91 miles double-tracked), extending from Ho¬
boken to Phillipsburg, N. J., and from the main line west of Bergen Hill
to the main line near Dover, N. J., also 251.20 miles of sidings, valuable
terminal yards and passenger station at Hoboken, &c.—V. 94, p. 560.
ceedings to determine the right of the
Grand Rapids RR.—Receiver's
Kean, Taylor & Co.
.
of the main line of the D. L. & W. RR. and provides
only entrance into Hoboken, N. J., and terminals
10 1868 the D. L. & W. took a perpetual lease of
Digest of Circular of
Road forms part
Denied.—The
Commissioners on Sept. 19 denied
tfr&Jbroposed 99-year lease of the
property and franchises of the Lehigh Valley RR. of N, J.
to the Lehigh Valley RR. of Pa., which owns all of the stock
of the New Jersey company except directors' shares.
&
described as a legal investment for savings
trustees in N. Y., N. J., Conn., R. I., etc.
are
that company with its
in that city.
On Dec.
Lehigh Valley RR.—Leave Pf N f J. Lines
Manistee
and
banks
Farmers' Loan & Trust Co., N. Y., trustee.
(c *).
These bonds
New Jersey Board of P. II.
the application to approve
to operate, as
.
yielding about 4.20% (see adv. on another page), the re¬
mainder of their block of $2,810,000 1st Refunding M. 314%
majority of the 3d M.
bonds did not grant the holders of the minority bonds (about $400,000)
a fair and equal opportunity to participatein the reorganization and that,
as there was no foreclosure of the 3d M. (the 2d M. only being foreclosed),
the minority holders have a right of action for the same proportion of the
stock in the Int. Great Nor. Corporation (Virginia
holding co.) as was
distributed to the depositing 3d M. bondholders, namely 114% (V. 92, p.
1310; V. 93, p. 1105).
Mr. Jones and his attorney will act without re-'
muneratJpn other than 5% and 25%, respectively, of amounts recovered,
but
t^meet other expenses the depositing bondholders must pay at once
1 % an bonds deposited, and such further,sums as needed.
The agreement
-willWjpire at the end of 5 years, if not before, unless the depositary is noti
fiedrEothe contrary.
All questions as to the continuation of legal proceed
ings\as well as the acceptance of any sum in compromise, will rest with a
It is claimed that
W
&
D. L.
depositary, "in order to enforce their rights."
N. Y.,
Bssex RR.—Otfering of Bonds Guaranteed by
RR.—Kean, Taylor & Co., New York,having
two-thirds of the issue, are offering at 84 and int.,
&
Morris
International &
Corporation (of Va.) promptly to deposit
their bonds with the Columbia-Knickerbocker Trust Co. of
Northern
Great
obligation of the company, are secured by pledge of $3,200,000 "General &
Refunding Mortgage" 5% bonds and $5,000,000 General Lien 6% bonds,
"Series A" (V. 97, p. 522).
The General Lien bonds are secured by a mort¬
gage on our entire property, subject to the "General & Refunding Mortgage"'
bonds and the divisional bonds, of which there are outstanding in the hands
of the public $24,986,000 and $50,914,800, respectively.
During the life
of the notes no additional General Lien bonds can be issued.
The total
authorized issue of these notes is $7,000,000, but the final $2,500,000 escrow
notes can be issued only under carefully guarded restrictions for additional,
property, &c., and then only upon pledge of additional "General & Ref.
M.
bonds.
Until the total amount of the "General & Ref. M." bonds
deposited aggregates $5,000,000, the company cannot dispose of additional
bonds of that issue.
The notes precede $10,000,000 pref. stock and $31,998,750
common
than $20,000,000.
stock, having a present aggregate market value of more
See annual report, &c., V. 97, p. 514, 522, 803.
Pennsylvania RR.—Bids for Cambria Steel Co.—■
See
'
of reorganization.com¬
'
that
company
under "Industrials" below.
Sale of Coal Holdings— Pres. Samuel Rea announces that
the directors have decided to sell the securities held by the,'
888
THE
CHRONICLE
in the Susquehanna Coal Co. and other anthracite
companies which for nearly 40 years past have been
attached to the system.—V. 97, p. 803, 666.
and with $1 56
The Amercian
coal
Rapid Transit in N. Y. City.—Contracts Approved, &c.
The P. 8. Commission yesterday after a public
hearing approved the
form of oontract for section No. 1 of the Whitehall St. lino to be
operated
Preliminary Statement for Year ending Aug. 31 1913 {compare Y. 91, p. 1250)
American Malting Co.—
1912-13.
1911-12.
1910-11.
1909-10.
®urp. for year after all charges— $403,368 $810,319
$763,040
$242,452
Pref. divs. paid in November
$179,056
$223,820
$179,056
$89,528
Pref. diva, following May..(not
declared)
223,820
179,056
89,528
by the New York Municipal RR. Corp. (Brooklyn Rapid Transit Co.),
covering the part of the route in Manhattan between Trinity PI. and Mor¬
ris St., via Broadway and Bowling Green to Whitehall St. and the East
River.
The
Commission also directed that public hearings be held on
section No. 2 of the Whitehall-Montague St. line and section
the Park PI. William and Clark streets lines, the two sections to
operated respectively by the New York Municipal Corp. and the Inter-
Oct.
14
be
>
on
Bal.
after divs. (6
only in 1912-13)
of
construction
are
connected
Div. Am. Malt.
*1.24%.
the
Mr.
was
'
was given to pay: (a) Interest due Oct. 1 on $1,440,000 Ozark
Central Ry. 1st M. 5s (provided the holders agree to the plan
year's extension of principal—spe above and V, 97, p. 803);
over one
(6) $191,975 to cover principal and interest on 'Frisco Construction Co.
equipment notes due Sept. 1 (V. 97, p. 730).
The receivers were denied permission to pay $78,000 interest due
Sept. 1
on the $2,600,000 6% gold notes of
1912, secured by pledge (V. 95, p. 751)
of bonds and stock of San Benito & Rio Grande
Valley and stock of New
Orleans Texas & Mexico and Kirby Lumber Co.
They were further direct¬
ed to dispose of the 12-mile Rio Grande Ry.
Assets Realization Co.—Remains
Uvalde
&
block, $11,149,000/-
Capital stock (authorized, $30,000,000) issued,'including $3,000,000 subscribed at par in Jan. 1913, on which $1,451,451
remains to be paid this year——
$18,000,000
5% bonds due 1925 (auth. by shareholders, $11,250,000)
11,149,000
The present quotation for the stock is abput 152.
Dividends at the rata
of 8% have been paid continuously since Jan. 1 1886.
Bonds.—Part of an issue limited in amount by Act of Canadian Parlia¬
ment to' 75% of the paid-up capital stock.
The company's charter makes
the bonds a first charge upon all lines, works and plant; plant account
Dec. 31 1912 (not including reai estate) as verified by chartered accountants,
$24,392,094, or over twice the bonds ($11,149,000). now out.
The proceeds
of the present issue will be used for the extensions.
Additions to plant in
1912 aggregated $3,860,767.
—
Gulf
RR.—Application.—The
au¬
.
■
simplify the raising of funds for
the
retirement
necessary
capital require¬
—V. 97, p. 366, 300.
Toronto Hamilton & Buffalo RR.—Dividend.—A
quar¬
terly dividend of \Yo% has been declared on the $3,500,000
stock, the greater part of which is owned by the New York
Central system and the Canadian Pacific
Ry.,.payable
Oct. 1 to holders of record Sept. 24.
,
In October 1912 $1,000,000 new stock was issued at par for
cash dividend of 20% on the stock (then $2,500,000)
improvements,
being paid at the
same
time, calling for $500,000 (V. 95, p. 1041).—V. 96,
p.
1631.
United Gas & Electric Co.
(of Conn.), N. Y. City.—
Plan Approved.—The stockholders on Sept. 24
formally rati¬
fied the plan providing for the acquisition of the American
Cities Co. common stock, &c.,. as cited in V.
97, p. 597.—
V. 97, p. 726.
_____
INDUSTRIAL, GAS
American
Gas
Co.
AND~MISCELLANEOUS.
of Phila.—Bonds
American Locomotive Co.—Notes.—Curtis &
Sanger are
•offering, at prices to net
a limited amount of the $4,800,000 outstanding 5% gold notes, due in July 1915, 1916
and 1917, but callable at 102 and int. See report
V.97, p.394.
Malt
Corporation,
New York.—Pref.
dend Reduced.—The directors on Sept. 24 declared
of 2% on the $8,729,910 6% cumulative
a
Divi¬
dividend
pref. stock, payable
Nov. 3 1913 to shareholders of record Oct. 16 1912.
This
contrasts with
2V£% each in May 1913 and Nov. 1912, 2%
May 1912 and Nov. 1911, 1% each in May 1911 and
Nov. 1910 and with 2p>% each six months
(5% per annum)
from Nov. 1908 to May 1910, inclusive.
each in
The American Malting Co., the operating
company, has declared
dend of $1 24 a share on its $14,440,000 preferred
stock,
This compares with $1 55 each in
May 1913 and Nov.
a
divi¬
payable on Nov. 3.
1911, $1 24 each in
&c., Cal.
.
Years (Present Interest Charge to he $557,450).
1907.
1909.
1910.
1911.
1912.
Subscribers, No_
111,118
114,735
133,910
153,959
192,748
revenue —$4,829,657 $4,949,197 $5,510,685 $o,476,848 $7,638,304
Gross
Inc. applicable to
bond interest.
'
/
,
1,223,767
1.651,339
1,729,575
1,6-57,814
1,880,185
179,970
182,450
182,450
231,979
274,025
Among the directors are Hon. Robt. MacKay and Robt. Archer, direc¬
tors of the Montreal Trust Co., Montreal, and the following officers of the
American Telephone & Telegraph Co:
Pres. T. N. Vail, Vice-Presidents
U. N. Beth ell and II. B. Thayer
and Treasurer Win. R. Driver.
See
V. 97, p. 519.
"
•
Bond interest—.
Bessemer
(Ala.) Coal, Iron & Land Co»—3-Year Notes.
Taylor & Co., Baltimore, recently offered at
97 and int. tbe small unsold portion of a closed issue of $275,000 6% collateral trust 3-year notes of 1913, due April 1 1916,
par $1,000.
A circular says:
"
—Howard R.
Secured by the property (34,000 acres
coal lands In Alabama) of the North
River Coal Co., through deposit of entire issue of $275,000 1st M. bonds
and control of the capital stock of said company.
The lands are valued
at $750,000.
The notes are also the direct obligation of the Bessemer
Coal, Iron & Land Co., with assets of $3,000,000, a bonded debt of only
$375,000 (V. 92, p. 883) and capital stock of $1,700,000, receiving 4%
dividends.
For the past six years the average annual surplus applicable to
dividends of the Bessemer Coal, Iron & Land Co. has been about $100,000,
or over five times the interest charges on these notes.
See V. 92, p. 958.
Buffalo
of Sub. Co.—
See Western United Gas & Electric Co. below.—V. 96,
p. 1775.
American
Earnings,
of
maturing issues, possibly
through the creation of a new blanket mortgage on the road
.and its controlled properties, but that sufficient
progress
had not yet been made to admit of announcement of the
plan, which will probably take some months to work out.
a
the
Digest of Statement by Pres. C. F. Sise, Alontreai, Sept. 23 1913.
Organization, &c.—Incorporated in 1880 under Special Act of the Do¬
of Canada, and operates a telephone system in the Provinces of
Quebec and Ontario.- Its long-distance lines comprise 64,321 miles of
wire and 9,136 miles of poles, and on Dec. 31 1912 it had 192,748 telephone
subscribers, contrasting with 111,118 in Dec. 1907.
Also has arrangements
for exchange of business with about 474 independent companies, Serving
over 54,942 subscribers.
The company is capitalized as follows:
on May 23 last authorized the issuance of
$2,863,000
Compare V. 96, p. 1630.—V.-96. p. 1774.
and
sold,
minion
Southern Ry.—Financial Plans.—Bankers affiliated with
the company are quoted as saying that steps are
being taken
ments
The bonds having all been
adv. appears on another page for record purposes.
The Commission
to
7% Basis.—
on
Bank of Montreal in Montreal and London at $4 86
per £.
Par $500 and $1,000 (e*).
Outstanding, including thi«
803.
has applied to the Texas RR. Commission for
thority to issue $800,000 additional bonds.
./.'/:/••:
company
bonds.
2% each
Bell Telephone Co. of Canada.—Bonds
Offered.—Lee,
Higginson & Co. offered this week at 98^ and int., yielding
5.15% (see adv.), a block of $4,500,000 new 5% bonds, dated
1895 and due April 1 1925.
Interest payable A. & O. at
"I have made a terttatiVe agreement with able counsel to take care of
my
interest should any legal controversies arise which may be unfair to the
Interests of the holders of all classes of stock, upon
reorganization.
It
will not be necessary for those who desire to join with me to make immediate
deposits of their stock, and there will be no fee paid to me for my services,
the only expense incident thereto being counsel fees and clerical hire.
Should you desire to join with me under these conditions, it will
only be
necessary at thta time for you to sign and return the enclosed letter, indi¬
97, p.
on
% has been declared
on the stock, payable Oct. 1, making,
Jan., April and July 1, a total of 7%
for the year 1913.
This is tbe same rate a3 previously maintained by equal
quarterly distributions of 1% % from the time of the change in April 1911
to one new single class stock.
A statement says:
"While the company has a large amount of profitable
business in process of realization, in view of the financial
depression which
has been generally evident during this year and the
consequent inability
to dispose of securities, the directors have not thought it advisable to in¬
crease the dividend for this year over the rate
paid in previous years."
—V. 96. p. 860, 881.
Readjustment.—
holdings."—V.
non-eum.
A dividend of 1
(common, 1st pref. and 2d pref.), issued on Sept. 24 a statement deprecat¬
ing as unnecessary any N. Y. committee for the stock, St. Louis being, he
says, the natural headquarters for such a committee.
Mr. Campbell adds:
Antonio
O'Brien has been with the company for many years.
Mr. Hampton
formerly connected with "Hampton's Magazine."—V. 96, p. 1631.
with the distributions of
Judge Sanborn is quoted as saying: "The operation of the road has been
credit to the Federal receivership.
The outlook Is far better than it was
few months ago.
We ought to know by Oct. 15 whether the company
will be able to pay other than preferred claims." (estimated at
$3,500,000).
James Campbell of St. Louis, who holds about 40,000 shares of stock
San
804. 73G.
3lA% has been declared on the. $1,pref. stock, payable Oct. 1 to holders
of record Sept. 27.—V. 98, p. 489.
a
your
p.
Arundel Sand & Gravel Co .—First Pref. Distribution.—
a
cating therein the amount and class of
2%.—V. 97,
25%
000,000 7%
RR.—Payments by Receivers,
Judge W. II. Sanborn in the, U. S. Dist. Court at St.
Sept. 20 authorized the receivers to expend about
$1,500,000 for payment of principal and interest on certain
obligations and for extensions, &c.
a
c
An initial dividend of
—
on
Reorganization Matters—Outlook for
62.48%.
American Tobacco Co.—New Director and Vice-President.
St. Louis & San Francisco
Authority
3.30%.
Benjamin B. Hampton, who has been connected with the company since
early in 1912, has been elected a director to succeed P. H. Hanion, who re¬
signed some months ago.
Mr. Hampton and W. H. O'Brien (the latter
in place of M. C. Patterson) have been chosen
vice-presidents in charge
of the smoking tobacco and
manufacturing departments, respectively.
Ate.—
for not
a
$62,396
cl73,930
173,930
347,860
capital stock of the company will be made and a stock dividend will
be declared to the then holders at the rate of 4 shares for each 100
shares
held, this stock to be at parity with all other stock issued.—V. 94, p. 1121.
See Denver & Rio Grande RR. above.—V. 95, p. 1542.
<fc Cherokee
6347,860
of the
new subway
equivalent of present earnings by $1,100,000 on subway
The cost of operations of the elevated lines, which had been
increased by taxes and other items and the earnings on these lines, fell below
the preferential by only $61,000.
If the dual subway agreement were in
effect, the excess earned by the subway would be put into the pool, from which
the city and the company would draw out their share in accordance with
the terms of the contract.
These figures, the Commission says, indicate
that the earnings of the new lines will exceed the preferential allowed to the
company and that there is no likelihood of a deficit, which would have to
be made good under the contract out of future earnings before the city
could begin to get a return on its investment.—V. 97, p. 730, 522.
Paul
$404,928
The plan to issue common stock to take up ,a
large issue of notes placed
last year provides in brief for an issue of 20% of the
present common stock,
giving the holder of each 100 shares 5 shares of the new issue at 150, payable
in five annual installments.
In addition, another stock issue
up to
operations.
Grande Junction Rj—Decision
$362,679
o436,496
436,496
Rolling Mill Co., Cincinnati.—Stock.—The
"Cincinnati Tribune" on Sept. 21 said:
Transit Co. exceeded the preferential allowed to it under the
Rio
Z'/;.
$224,312
American
.A statement was issued by the P. S. Commission on Thursday saying
that for the year ending June 30 last the profits of the Interborough Rapid
as
div.
—
I
up.
mos.
Corp., about— *175,475
Corp. pref., abt.
175,475
Div. to Am. Malt
borough Rapid Transit'Co.
The earnings of the Centre St. loop line from Aug. 4, when operations
began, to Aug. 31 (28 days), with only 2 of the 4 tracks in operation, were
$722,271.
After deducting rentals, taxes, operating expenses, charging
off 15 % for maintenance and
depreciation, and deducting a proportionate
amount of the preferential payment to Toe allowed the B. R. T., as lessee,
there remained a balance of $22,870.
The. city's investment in the line
is $6,500,(XX), and at
534% the interest and sinking fund charges on that
amount are $25,085, leaving a deficit for the first 28
days of operation of
only $2,814.
This is considered very satisfactory, since the line, it is stated,
is carrying less than half the traffic it will boar when the new lines under
contract
xcvii.
May 1912 and Nov. 1911, with 62 cents each In May 1911 and Nov. 191#
half-yearly (3.12% a year) from Nov. 2 1908 to May 1910.
Malt Corporation, as owner of an amount in excess of
141,512 shares (98%) of "company" preferred .will receive from the divi¬
dend now declared about
$175,475, which is just eufficient to cover its
own 2% distribution.
company
No. 3
[Vol.
(N. Y.) Gas
Co.—Re-hearing Denied.—-
The P. S. Commission has denied the application of the city for a re¬
hearing in the case in which the Commission in April last made an order
reducing the price of gas consumed by the city to 90c. per $1,000 cu. ft.
Compare V. 97, p. 804, and report, V. 97, p. 296, 239.
Cambria
Steel
Co.—Possible
Change in Control.—Both
representing certain steel inter¬
ests of the Middle States, and Henry G. Frick, in behalf of
himself and other Pittsburgh capitalists, are credited with
wishing to acquire the control of this property.
The com¬
panies of the Pennsylvania RR. system own the control
and have long been reported as inclined to part with the same
provided a satisfactory price could be obtained.
The "New
York Sun" on Sept. 24 said:
Emil Pollock of Cincinnati
,
*
The
Pennsylvania
owns
$22,504,100 of the company's $45,000,000 stock.
The next largest holder of stock is Henry C. Frick.
It is understood that
Emil Pollock, President of the Pollock Steel Co. of Cincinnati, has made a
bid of $50 a share for the Pennsylvania's stock, its par value, but that the
railroad will not sell for less than $60 and
interest selling stock
will receive the
same
a
guaranty that Any
price for It.
minority
Sep*. 27
The other bidder for the control of the company is said to be Henry C.
Frick, allied with President Donner of the company.
Mr. Frick is a direc¬
tor of the Pennsylvania RR.
When asked about the report that he was a
bidder for the control of the Cambria Company yesterday he said: "I know
nothing about the matter except what I have read in the newspapers."
It is understood that Mr. Frick's holdings of Cambria stock is about
$3,000,000, or nearly 7% of the capital stock.
Statement as to Pollock Steel Co. from "Iron Age" of Nov. 10 1911.
The Pollock Steel Co. of Cincinnati, which was recently organized, has
taken over the business of the Block-Pollock Iron Co., Cincinnati.
The
officials are: Pres., Emil Pollock; Vice-Pres., Maurice E. Pollock; Treas.
and Gen. Man., Bernard E. Pollock; Sec., Julian A. Pollock.
For many
years the plant, which is located in Carthage, a suburb of Cincinnati, has
been given over to the manufacture of large forgings, principally car axles
and other railway forgings, machine and engine builders' forgings, both
light and heavy.
The annual capacity has been nearly 100,000 tons, with
over 50% of the total running in car axles.
[An Ohio corporation with,
it is said, $400,000 capital stock.
Among the directors is reported to be
Leopold Block, Treasurer of the important Inland Steel Co. V. 97, p.
295].—V. 96, p, 1366, 881.
,
1923
Locomotive
Canadian
June 30.
Net
Year.
Co.,
Ltd.,
Inc.
Ont.—
Kingston,
Balance,
Depr„&c.,Pf. Divs.
Bond
Int.
Total
Other
Inc.
Earns.
Writ.Off.
Sttrp.
(7%)
$114,262
96,148
1912-13-1377,043 $19,842 $396,885 $90,000 $87,623 $105,000
1911-12- 294,323
32,057
326,380
90.000
35,232
105,000
—V. 95, p. 816, 819.
Co.—Suit
Steel
Carbon
Former President
Against
—
Commonwealth-Edison Co., Chicago.—Ratijied—
The
stockholders on Sept. 25 ratified the proposition to merge
Electric Co., increase authorized stock from
$50,000,000 and pay a 10% stock dividend.
mopolitan
V
the Cos¬
$40,000,000 to
was brought in the Supreme Court in this city on Sept.
$215,866 from Frank B. Robinson, who was President of
Central & South American
mated
Telegraph Co.—Partly Esti¬
Earnings.—For 3 and 9 months ending Sept. 30:
3 Mos.—
Tot. Inc.
1913
$209,856
200,000
$1,209,500
$761,780
1912 —1,213.000
Total Sur.
762,218
Dividends.
(IH %)$143,565
(1 H%) 143,565
Bal.,Sur.
56,435
"
2,942.791
'
(4^%)$430,695
(4*4%) 430,695
Net Income.
$.365,000
353,500
$331,085
331,523
$3,256,250
2,942,791
$3,256,250
$66,291
9 Mos.—
„
—V. 96, p.
1843.
1699,
Citizens'
See "Annual
Gas
Co.
Reports"
of
on a
President Insull Becomes Chairman of People's Gas
People's Gas Light & Coke Co. below.—V. 97, p. 447.
Consolidated Telephone Cos. of
Pennsylvania.—Sold.
The securities, &c., covered by the mortgage of 1901 (ContinentalEquitable Trust Co., Phila., trustee) were bid in at foreclosure sale in
Philadelphia on Sept. 17 for $50,000, the upset price, by Alvin Markle, of
Hazleton, Col. H. C. Trexler of Allentown, William B. Given of New York,
John Graham bf Newvilie, Pa., and Murray Gibson, in the interest of.
the reorganization.
The underlying companies have outstanding some
$956,000 bonds.
See plan, V. 96, p. 1704, 1559.
Irrigation Co.—Status.—We have
following from an authoritative source:
name and through subsidiary companies owned
Denver Reservoir &
in its own
in the territory north of Denver.
Its existence was
with the Farmers' Reservoir & Irrigation Co., a mutual
company organizedto operate a water system and deliver water to holders
of stock in the Farmers company.
The Denver company got all the stock
of the Farmers' company and in return for that agreed to build the system.
land
considerable
much interwoven
responsible for the creation of a number
The Denver company was
of
municipal Irrigation districts and sold to such districts stock in the Farmers*
Co. entitling the districts to the necessary amount of water with which to
Irrigate their lands.
The irrigation districts issued their bonds and de¬
livered them to the Denver Reservoir Irrigation Co. in payment for water
stock received.
These bonds were sold in the open market and the proceeds
of the bonds were used for construction of the Farmers' Company.
When the Denver Reservoir Irrigation Co. and the Farmers' Co. be¬
came involved a receiver was appointed by the District Court at Denver.
When default occurred as to interest on the irrigation district bonds!
also on a bond issue of the Denver Reservoir Irrigation Co., a bondholders,
f>rotectivedepositary for the bonds. and the Chicago
committee was organized
ected
Indianapolis.—Report.—
as
plan of reorganization was
A
preceding page.
Lt. Board.
See
The company
19 to re¬
the com¬
pany from 1906 to 1911 and a director before and after those years.
It is
alleged that the defendant while President "acquired to himself moneys
of the plaintiff at various times and in various amounts over and above his
lawful salary as President," amounting to the sum demanded.—V .95,p.1210
«
Title & Trust Co. se-
■
'
evolved whereby the assets of the Denver
consisting of approximately 50,000 acres of land
and about one-third of the capital stock of the Farmers' Co., together with
other miscellaneous assets, were turned over to the Chicago Title & Trust
Co. as trustee.It is now the duty of that company to dispose of the assets
which came Into its hands and discharge the obligations of the Denver Co
In the order of priority as established by the plan of reorg. and order of court
No change has been made in the capital stock or personnel of officers and
directors of the Denver Co.
Along practical lines the stockholders have
nothing to do with the management until all the obligations of the Denver
Co. are discharged.
See plan, V. 97, p. 368, 447.
Co. and its subsidiaries,
Bonds.—-The
company,
having in
progress
extensive im¬
provements, sold .last February at 95 $450,000 of its First
& Ref. M. (now 1st M.) 5s of 1912, deliverable as funds are
required.
The P. S. Commission of Indiana on Sept. 17
gave its assent to this issue.
*
These bonds, when all delivered, will make $1,470,000xof the issue out¬
standing; $91,000 of the $450,000 had been paid for prior to June 30 and
an
additional $49,000 between then and Sept.
17.
Compare V. 95,
238,
178.
June 30
"
Year—•
Fixed
Other
Net
Gross
Colo.—Earnings
'
—
Balance,
Earnings.
Income.
Cliges^&c.
Surplus.
Earnings.
$24.315,887
$3,620,266
$755,628
$2,648,703
$1,727,192
3,772,281
676,693
2,647,746
1,801,228
24,268,452
1910-11
3,478,349
671,599
2,890,276
1,259,672
22.934,685
A yearly dividend of 8% has been declared on the $2,000,000 pref. stock,
payable out of the earnings of the fiscal year 1912-13 in two installments
of 4% each on July 1 1913 and Jan. 1 1914, calling for $160,000: a distri¬
bution of 35% was also made on Mar. 20 1913 on account of the accumu¬
lated dividends (74%), calling for $700,000; deducting these payments,
aggregating $860,000, leaved $867,172.
From the earnings of 1911-12 an
annual dividend of 5% ($100,000) was paid in 2 installments, of
% each,
1912-13
-
„
_
1911-12.
_
—
Jujy 201912 and Jan.^0 1913, leaving $1,701,228.—-V. 97. p. 53.
Colorado Power Co.—*Status.—Pres. G. II. Walbridge,
Y.„ August, 1st 1913, wrote in substance:
The company acquired on April 14 1913 the properties and franchises
formerly belonging to the Central Colorado Power Co. and the Leadville
Light & Power Co.
On July 21 1913 it also acquired all the stock of the
Saiida Light, Power & Utility Co., which owns free of all liens two hydro¬
electric plants of about 2,000 h. p. rated capacity, an auxiliary steam plant
and distribution lines, &c., supplying electricity for light and power in
Saiida, a growing city of about 5,000 inhabitants, with railroad shops,
a smelter,
granite works, &c., and surrounded by an excellent farming
district.
The
Saiida
company,
whose property, &c., will eventually be
earned for the cal. year 1912, gross,
transferred to the Colorado Power Co.,
$59,089, and npt, $39,928.
The general condition of the Colorado Power Co. is improving steadily
but slowly.
It has adequate working capital and, with ample maintenance
and minor improvements, the physical condition is better than at any
previous time.
The earnings, both gross and net, are increasing steadily,
some important contracts having been taken since Jan. 1, and the indica¬
tions are that such increase will continue.
In common with other parts of
Colorado is suffering from stagnation, and conditions in the
mining districts remain poor.
The improvement in earnings is therefore
gratifying, and it is to be hoped that with a restoration of normal business
conditions, the income will show still further improvement.
the country,
Including the Saiida .Co. (Inter-Co. Charges
Eliminated)—July 31 Years—6 Months ending July 31 1913.
1909-10. 1910-ll.Inc., %1911-12. Inc. over 1911.
6Mo.'13
Gross op.rev.$370,583 $575,942
55.4 $633,311 $57,369 10.0% $335,085
Consolidated
Income Account,
Net (after op.
exp.) —.$139,615 $332,785 138.4 $419,689 $86,904 26.1% $225,275
Operating expenses in 1912 decreased $29,535, or 12.1%, compared with
1911.
About Nov. 1 1913 a report will be made for the six months ending
*
Oct. 1,
together with
a
from
mated.—The
new
ready for delivery at the
Equitable Trust Co., 37 Wall St., per plan V. 96, p. 1426.
The plan for the reduction and readjustment of the capital stock of Elec¬
tric Properties Co., dated May 7 1913.
has been accomplished by the
incorporation, under the laws of Virginia, of the "Electric Properties
dividends of the old company are
old company, except
account of accumulated
pref. stock ($4,000,000 auth.)
old, and bears cumulative divi¬
dends from Sept. 1 1913, the date on which dividends on the old pref. stock
ceased to accrue.
The new common stock is $4,000,000, or $2,000,000 less
than the old common stock.
The only debt except current indebtedness
accrued since Sept. 1 1913 is represented by the $400,000 5-year 6% re¬
deemable obligations, which are to be distributed (in addition to the cash
above mentioned) on account of unpaid dividends on the old pref. stockfl
Fractional interests in the common stock of the new company will be
adjusted by the depositary until Nov. 1 1913 on the basis of $21 per share.
The new pref. and common stock is transferable at office of new company,
Corporation" with
the same assets as the
the $298,258 of cash, which is to be distributed on
dividends upon the pref. stock.
The new
is the same in amount and character as the
37 Wall St.—V. 97, p. 524, 301.
.
additional cash
capital.
Co.
and
Leadville Co. were depos¬
$10,449,000 1st M. bonds and
the
ited under the plan except $96,000 of the
$26,275 of the $1,303,500 2d M. bonds of the Central Co.,and $7,000 of
the $757,000 bonds of the Leadville Co.
[The reorganization plan of Feb. 28 1913, under which the new company
was formed, differs as to financial details from the plan of Nov.25 1912
(V. 95, P- 1606, 1610; V. 96, p. 656) merely in giving to the old 1st and 2d
M.bondholders,along with 25% in new bonds and new pref.stock,respec¬
tively, 90% (instead of 75%) in common stock.
Outstanding Securities of New Company Issuable in Exchange or
Oth.Inc.
;l
Otherwise.
Outstand'g.
New Bonds.
New Pref.
New Common.
bonds-$10,449,000 25%-$2,612,250
90%-$9,404,100
2d M. 5% bonds.
1,303,050
25%-$325,762 50 90%- 1,172,745
Leadville6s
767,000 100%- 757,000
........
___
.
$
Bond
Int.
Int.
Divs. Surplus.
$
$
$
$
105,146
87,000 19,010 118,500 102,234
184,536 174,000 20.1J0 349,596 164,853
Reserve.
$
'V
■
6 mos. 1913
431,890
12mos. 1912.-.893,094
Balance Sheet July 12 1913
Plants, equip.&goodwill_$ll,237,772
Inv. in other
corporations
—at cost
1,749,600
r
(coll.
$400,000; in
Co.'s 1st M. bonds
for notes,
Accounts
(Total Each Side,
receivable
Inventories at cost---:.-
Unexpired insur. & taxes
Organi zation expenses
Discount on gold notes._
Compare V. 94, p. 211;
-
Surplus.
$
530,25$
428,029
$14,470,653) .
Pref. stock, 7% cum
Common stock
$5,925,009
—3,400,000'
M. 6% bonds (sea
contra)
Gold notes 1915 (1st M.
16t
3,428,000
400,000
157,216
collateral)
245,505 Accounts payable-.
226,328 Bills payable
528,000
treasury, $128,000)
Cash j.
General
Motors
6s
as
226,295
26,918
429,369 Accrued interest
16,676 Equity, Kolb profits
106,545
26,932 Depreciation reserve—255,269
545,41
10,471 Surplus
V. 95, p. 1748, 1686, 752; V. 96. p. 656.
1912-13
1911-12-—V.
760,750
99,237 50
423,155
$4,130,000
$425,000 00
$11,000,000
Co.—Earnings—
-
Gm.M.
Int. on 1st Pref.Dip.
Prop.
LienNotes.
(7%).
$8,284,139 $8,184,052 $724,581 $1,048,534
4,838,448
4,746,756
850,463 1,040,210
Net
July 31 Year—
(after
Taxes,&c.).
Balance,
Surplus.
$6,410,937
2,856,083
97, p. 301.
Greater New York Brick Co.—Large Orders.—
Immediately after the action of the Grand Jury on Sept. 18 dismissing
the charges against the company, orders aggregating over 20,000,000 bricks,
which it is said were held in reserve contingent upon a favorable report,
were placed by builders who had been delaying prospective operations in
the fear that an adverse report might affect future deliveries.
For tha
first time in over a year the week's sales were more than double those of thearrivals, and the total of 59 barge loads on hand a week before was reduced
to 15 at the local wholesale market the day after the decision.—V.97,p.804.
Greenfield
The
Mass.
Gas
(Mass.) Elec. Light & Power
&
Elec.
Lt.
Co.—Stock.—
Commission has sanctioned the
issue or
$250,000 new stock at par, $100 per share, $115,000 to meet promissory
notes representing new construction and $135,000 for further additions, &c.
Present stock, $500,000;
1st M. 5s, $100,000.—V. 83, p. 754.
Exchange—
Total now out.
Depr.
Profits
■
''
Haverhill
1st M. 5%
Other purposes...
1913and for Cal. Year 1912.
Other
Pref. Balance,
Total
Profit and Loss Acct. for Half-Year end. June 30
Reorganization
All the bonds of the Central
.
Baking Co., New York .--Earnings.—Harvey
Fisk & Sons, who are offering at 95 and int. a limited amount
of the 1st M. 6s of 1911, report in substance:
General
The Colorado Power Co. has issued in temporary
cure
pref.
securities and the cash for overdue
(Compare V. 95, p. 1606.)
balance sheet, &c.
Committee, N. Y., Aug. 1 1913.
form (a) common stock
[total auth. issue $15,000,000 in $100 shares ; (6) pref, (p.& d.) stock, 7%
cumulative [total auth. issue $5,000,000, par $100 ; (c) First M. 5% gold
bonds bearing int. (semi-ann.) from May 1 1913, payable May 1 1953,
secured by a mtge. to Columbia-Knickerbocker Trust Co., as trustee,
covering all physical properties and franchises owned and all the stock of
the Saiida Light, Power & Utility Co.
The stock was issued on April 14 1913, but the issue of the bonds was de¬
layed till July 21, pending the sale of $700,000 of the bonds, in order to pur¬
chase the stock [500 shares] of the Saiida Light, Power & Utility Co. and pro¬
Data
Corporation, N. Y.—Plan Consum¬
Electric Properties
„
Colorado Fuel & Iron Co., Denver,
N.
int. after sin
beginning in
1918, will receive yearly in cash for 8 years an amount equal to *4 of 1%
of outstanding bonds and from 1926 to 1952, incl., 1 % yearly. Total auth.
issue, $10,000,000; but bonds additional to the present $4,130,000 can be
issued only for 80% of the value to mortgagor of permanent impts. and ad¬
ditions or securities when the annual net earnings are twice the interest
charge. Including the bonds proposed to be issued.
American series, par
$1,00J, $5,000 or multiples (c*&r), have prin. and int. payable in N. If.
City.
Company may also issue International series payable p. & i. either in
N. Y. or, at holder's option, in Paris, at rate of 5,175 francs per $1,000;; in
London, at £205 4s. 2d.; in Berlin, at 4,200 marks, or in Amsterdam at
2,480 guilders; also English series, par £200; French series, par 500 francs;
German series, 1,000 marks; Netherland series, 1,000 guilders. Pres.. G. H. Walbridge; Sec., Irvin W. Day.—V. 96, p. 1091.
been favored with the
A suit
cover
on
[The new bonds are redeemable on any int. day at 105 and
weeks' notice, either as a whole or for sinking fund, which,
,
Canada Iron Co.—Permanent Liquidators.—
Justice Beaudin on Sept. 18 appointed the Montreal Trust Co. and Edgar
McDougall joint liquidators, following a meeting of the creditors of the con¬
cern.
Plans for a reorganization are being worked out.
The first and
second M. bondholders will meet on Oct. 17 to consider the authorization
of the trustee to borrow $250,000 to carry on the business.—V. 97, p. 730.
p.
889
CHRONICLE
THE
1913.]
(Mass.) Gas Light Co.—Full
The opinion of Chief Justice Rugg
which the decision of the Court
Opinion.—
of the Mass. Supreme Judicial Court
dated May 27 was based, restraining
the sale of the franchises and physical property of the company to thaHaverhill Gas Co.. was printed at length in the ''Banker and Tradesman"
of Boston on Sept. 20.—V. 97, p. 525.
'
on
V890
THE
Interlake Steamship
Co.,
CHRONICLE
Cleveland.—2% Dividend.—-
The company, an enlargement of
the Lackawanna Steamship Co., per
plan V. 96, p. 1232, has declared a dividend of
2% on the $5,782,486 stock,
payable Oct. 1 to holders of record Sept. 25.—V.
96, p. 1301.
Kansas City Stock Yards Co.—Bonds.—The offer of
exchange having been withdrawn, Estabrook & Co., Boston
and N. Y., recently offered and sold
the remainder of their
block of 5% bonds of Kansas
City Stock Yards Co. of Mis¬
souri, dated Feb. 1 1910 and due Feb. 1 1920.
Authorized,
$2,000,000; outstanding, $1,334,000.
Callable on any int.
date after Feb. 1 1915 at
102^ and int.
The bankers say:
acres of land used for stock
yards purposes
Mo., and the buildings thereon, which include
exchange and office building that cost about
$600,000.
The land,
exclusive of buildings, has been valued for
railroad and terminal purposes
at $9,000,000.
These $1,334,000 bonds are the
only outstanding bonds,
and
they are followed by $8,173,000 capital stock on which dividends have
been paid at the rate of
6% for over 20 years.
No lien can be placed
upon the property which does not equally secure
these bonds, and so long as
any of them are outstanding, the company
cannot authorize, issue or sell
any further or additional issue of bonds, de¬
bentures or other similar
obligations running more than 12 months after
date.
It retains, of course, the
right to borrow to meet its current require¬
The company owns some 175
in Kansas City, Kan. and
a
new
ments in the usual
course
of business.
Average net earnings applicable to interest charges for the 9 years, 1904
incl., over $700,000, or more than 10 times the interest on this issue.
Practically the entire $8,173,000 capital stock is held by the Kansas City
Stock Yards Co. of
Maine, which has outstanding $10,435,900 stock ($7,935,900 pref. paying 5% cum. dividends,and$2,500,000
common), showing
an equity above the bonds
at current market quotations of over
$7,500,000.
Compare V. 97, p. 240.
La
Crosse
bonds dated Dee. 1 1911, due Dec. 1
1931, but callable on
or after Dec. 1 .1921 at 105
and int.
Par $1,000.
Interest
J. & D.
Trustees, Merchants' Loan & Trust Co. and Leon
L. Loehr, Chicago.
Data
from
Authoritative
Organization.—Incorp. Dec.
Statement
of
2 1901 in Wisconsin
September
1913.
of LaCrosse
as successor
Gas Light Co., LaCrosse Brush El. Lt. &
Power Co. and Edison Lt. & Pow.
Co.
Also owns Central Electric Co.
and Wisconsin Lt. & Power Co.
Now
controls the entire gas, electric
light,
power and
heating business in city of
LaCrosse, and supplies electricity to Onalaska, North LaCrosse andLaCrescent.
Having an indeterminate franchise, is regulated by State RR.
Minneapolis (Minn.) Gas Lt. Co.—Argument
of
The appeal from the order of
District Judge Molyneaux refusing a tem¬
restraining the publication of the ordinance reducing the
price of gas from 85 to 70 cents per
thousand has been set down for argu¬
ment in the State
Supreme Court on Sept. 29.
The stay prohibiting the
publication expires on Oct. 3.
If the Supreme Court affirms
the decision
of the lower Court, the
ordinance may be
published, but the company will
have the right to endeavor to set
aside the 70-cent rate fixed
by the ordi¬
nance.
The. 85-cent rate is
being charged, but the company has
stipu¬
lated to refund excess charges if
the counts should sustain the
ordinance.
—V.
Ref.
Outstanding Capitalization.
M.
bonds authorized,
$3,000,000; outstanding
Reserved to retire $75,000 LaCrosse Gas
193
$855,000
Light Co. 1st M. 6s
of 1914 and $213,000 LaCrosse
Gas & Elec. Co. 1st 5s of 1921
Remainder reserved issuable on
y for 80% of cost of
betterments and extensions after
approval of RR.
Commission of Wisconsin
^_$1,877,000
Stock ($450,000 common and
•
$200,000 preferred)
Every share of the preferred and
Public Utilities Co.
June 30 Years— 1912-13.
1911-12.
Gross earnings.._$323,413
common
■
•
stock
owned
tfc'v
288,000
650,000
by American
•
June 30 Years— 1912-13.
1911-12.
$310,031 Fixed charges
$62,175
$59,810
Net, after taxes__$126,165 $120,833
Netearnings
$63,990
$61,023
Properties.—Has two power plants with
generating capacity of 2,400 k.w.
and has recently closed contract
with Chippewa Valley Lt. & Power Co.
for electricity at
advantageous rates.
A high tension transmission line is
now being
completed from Winona to LaCrosse.
Hot water heat, obtained
from exhaust
supplies
steam,
plant, capacity now 330,000 cu. ft. of coal gas
per day, from 6
benches of 9 retorts each; holder
capacity 380,000 cu. ft.
This capacity
will be doubled and
efficiency and income materially increased by new coal
benches and complete water gas
set, new purifier, condenser,
machinery
house,
coal
and
coke
trestles.
LaCrosse.—Prosperous city of 32,000 inhabitants, situated
River in
ing
rich agricultural district'.
125 industries with a total of
a
ix banjes, combined
fating $20,000,000 annually.
capital
aggre-
Five railroads, three being
surplus
and
loans and discounts $6,500,000.
Mississippi
on
A growing
manufacturing centre, hav¬
10,000 employees and products
trunk lines,
$935,000, deposits $8,500,000;
"
{
—
Co., Bos¬
ton, and Harris Trust & Savings Bank,
Chicago, jointly with
Lee, Higginson & Co., have practically sold the new block of
$325,000 Refunding Mortgage 5% 10-year gold bonds of
1912, issued with $250,000 stock as consideration for
prop¬
erty of People's Heat & Light Co..
Datarfrom Pres. Edward L. McKee,
Indianapolis, Sept. 2 1913.
Capitalization—
Authorized.
Outst'g.
Capital stock Tcontrolled by Am. Pub. Utilities
Co.]_$R500,000 $1,500 000
"Refunding mortgage 10-year 5s______
6,000,000
2,610,000
Reserved to retire
underlying bonds which will be called for
payment on or before July 1 1914-250,000
The balance of $3,140,000 escrow bonds
may be issued from time
for not to exceed 80%
to time
of the cost of permanent
extensions and additions
Erovided the net to be issued. \ % times the total p.
earnings are (See also V. 95, interest
onds proposed
charge, including
1042.)
Years ending July 31.
("*1912-13" includes People's
Light A Heat Co., Recently Purchased.)
Earnings, Ac., for
'
;
1904-05.
1907-09. 1910-11.
.5,900,
11,310
1911-12. 1912-13. *1912-13.
14,850
17 643
102,547
212,482
248,609
372,414
$261,521 $415,411 $511,386
$610,138 $722,303
Net after taxes,
$318,540; interest on $2,860,000 bonds now
out,
$143,000; balance, surplus
175,540
Property.—Steam-generating plants with total generating capacity of
-about 23,000 h.p.
A large part of the lines are underground.
On basis of
investment by owners there is an equity above bonds of over
$2,000,000."
Franchise.—The company has recently surrendered its
franchise and ac¬
cepted the indeterminate grant offered by the law
which went into effect
May 1 1913, providing (a) a perpetual right to furnish
satisfactory service
at reasonable rates;
(b) protection against competition of new
companies
so long as the
service is adequate and the rates
reasonable; (c) in case the
city elects to purchase the property, the price shall be
fixed by the P. S.
Commission.
A similar law, in force in
Wisconsin for the past six
years,
has proved more
satisfactory than a municipal grant.
_
1,000 k.w.
;
gen._
3,500
16-c. p. equiv,._
48,013
Gross earnings..$172,573
,
Meriden
(Conn.)
The stockholders
$500,000
to
Gas Light Co —Stock Increased.—
Sept. 2 authorized an increase in capital stock
$1,000,000, as fixed by the amendment to the charter.
on
Mexican Telegraph
Co.—Partly Estimated
3 and 9 months
ending Sept. 30:
3 Months—
1913
Total
Income.
Dividends
185,313
Balance,
Surplus.
$143,663
84,578
$705,106
607,011
$41,500
34,000
(74$ %)$269,205
(74$%) 269,205
$394,401
303,806.
$749,000
651,000
...
Earnings—For
.(24$%) $89,735
(24$%)
89,735
201,000
—V. 97, p. 44.
Mexican
from
$17,500
11,000
$250,898
1912
9 Months—
1912
Net
Income. Government.
.$266,000
Paid.
Mines Co. of America.—No Dividend.—
The directors at their
meeting last week took no action on the dividend
the $8,364,663 stock.
No payments were made in
April, July or Oct.
1912, owing to the unsettled conditions in
Mexico; but in Jan. 1912 14$%
was disbursed.
Dividends were resumed in Jan.
1913, 1 K% being paid
on Jan., April and
July 25.—V. 95, p. 1687.
on
731.
p.
The company has been handed over to
its stockholders after a
year of
operation under the direction of the bankers who
provided working funds.
At the meeting of the board last
week, the resignation of Joseph M. Winterbotham Jr. as President was accepted.
Mr. Winterbotham, as a
reprewentative of the bankers, was elected
President to succeed
Capt. William
Mitchell Lewis last spring.
The new President, also General
Manager,
is Beach L.
McLaren, until now President of the Racine Rubber Co.
John W. Bate, for many years Production
Manager for the Mitchell-Lewis
Co., was elected 1st V.-Pres.
William T. Lewis, father of
Capt. Lewis,
and until now Chairman of the
board, was elected 2d V.-Pres.
Plant is
operating at full capacity, with over 2,000 men
employed.
[The company,
it is said, plans a production of between
6,000 and 7,500 cars for the 1914
season.
Frank L. Mitchell is Treasurer.]
See V.
97,
New Orleans
179.
p.
(La.) Drainage Co.—Sale of Collateral.—
The collateral for a loan of $250,086 made to
the company by the Conti¬
Trust & Savings Bank in
1910, consisting, it is said, of somewhat
$1,000,000 of the company's bonds (V. 90,
p. 1047) and $1,000,000
stock, was purchased by the trust company, the
only bidder, for $250,000
at auction at Chicago on
Sept. 16.
The sale was ordered by Judge
Carpen¬
ter of the U. S. District Court.—V.
90,
nental
over
p.
1047.
(Geo. B.) Newton Coal Co.,
Phila.—Mortgage.—
The shareholders will
vote Nov. 24 on
creating
a
of $242,000 in order to refund
mortgage liens to the
ng on tne real estate.
(V. 95. p. 1212.)—V.
mortgage indebtedness
same amount now
96, p.
New York Air Brake
exist-
1559.
Co.—New Director.—
Nicholas F. Brady has been elected a
director to succeed his father, the
late Anthony N. Brady.—V. 96,
p. 551.
O'Gara
Coal
Co.,
Chicago.—Receivers' Certificates.—
Judge Carpenter in the U. S. District Court at
Chicago has authorized
the receivers of the
company and allied properties to issue.receivers' cer¬
tificates to pay wages due and
accruing during September as follows:
O'Gara Coal Co., $125,000;
Harrisburg Big Muddy Coal Co., $35,000;
Harrisburg Saline Collieries Co., $25,000.—V. 97, p. 822.
Ohio
Boxboard
Co.,
Cleveland,
O.—^Stock Increase.—
The authorized capital stock was
recently increased from $700,000 (all
issued, par $100) to $1,000,000, by raising the 6% cum.
pref. from $200,000
to $500,000, $100,000 thereof
(making $300,000) issued, being sold at
par to shareholders of record June 1.
DiVs. paid on both classes in 1912 and
1913 (Q.-J.), 6% per annum.
No bonds or mortgage.
N. S. Everhard,
Pres., and T. W. Ross, Treas.—V. 82, p. 284.
Palmer
&
Singer Manufacturing Co. (Automobile
Mfrs.), N. Y. City.—Notes Offered.—C. D. Knapp Jr. & Co.,
N. Y. City", are
placing at par and int. Series A 6% gold
coupon notes.
Authorized, $150,000.. Dated May 1913
and due May 1918, but red. on
any int. date at 102)^ and
int.
Par $500 and multiples thereof.
Interest M. & N. 20.
Columbia-Knickerbocker Trust Co., N. Y., Registrar.
Digest
A
of
N.
Letter
Y.
from
Pres.
corporation,
Charles
prganized
in
A.
1906.
Singer
Sr.,
Total
auth.
Aug.
3
capital
1913.
stock,
$1,000,000, of which $650,000 is common and $350,000 is 7% cum. pref.;
now outstanding
$335,300 pref. and $564,700 common.
Has also authorized
an issue of $100,000
6% 5-year gold notes, due 1917, all outstanding, and en
issue of $150,000 Series A 6% 5-year
gold coupon notes, due 1918, of which
there are now outstanding $63,000.
Those Series A 6% 5-year gold
coupon notes are secured to the extent that
the net quick assets must always be
equal to not less than 24$ times the
amount thereof outstanding and
unpaid at any time, or they become due
and payable on demand.
any
mortgage
or
lien
The company also obligates itself not to create
other indebtedness having priority over said Series
outstanding and unpaid.
either the loss and gain account prior to the present
or
A notes white any of "them remain
Merchants' Heat & Light Co. of
Indianapolis,—Bonds,
Harris, Forbes & Co., N. Y., Nl. W. Harris &
&c
97,
Mitchell-Lewis Motor Co.,
Racine, Wis —Shareholders
Resume Control.—The "Iron
Age" of N. Y. recently said:
265 customers.
Gas
Appeal.
.
Comm.
First &
xcvii.
porary injunction
to 1912
(Wis.) Gas & Electric Co.—Bonds, &c.—
Howe, Corrigan & Co., Grand Rapids, recently offered at
a price to net
6%, $50,000 first and ref. mtge. 5}4% gold
[Vol.
Wthout
considering
management, or the capital stock accjunt, our certified statement
June 30 1913 shows (a) assets of $680,124, as
against liabilities of
as
of
$229,129,
(b) Net quick assets of $376,against current liabilities of $37,186, or net quick assets
equal to
more than five times the amount of Series A
notes now outstanding.
The net sales for 1912 were $451,396 and for
1913 it is estimated they
will reach $700,000.
The net earnings for the year 1912 were $20,584i as
against a loss under the old management of $242,416 in 1910 and $23S,298
in 1911.
It is estimated the net profits will
equal at least $50,000 for the
year 1913 and for the year 1914 $200,000.
The expected large increase in net
pr fits for the year 1914 is based on
the rapidly increasing sentiment in favor of our cars as now
constructed,
and particularly because our 1914 cars will
embody the M.A.G.I.C., or
an
excess
908,
of $450,995 assets
over
liabilities,
as
"silent slide crescent valve motor."
This motor costs no more to build
than the best-known makes of poppet-valve
motors, gives far greater power,
is absolutely silent, Operates with far
greater economy and uses very much
loss gas Mine and oil.
This comoaiv is licensed by the Motor &Gear Im
.
Co. to manufacture,
superior
efficiency
o
use
er
and sell said motor, with which, because of its
all other known tynes, including the Knight-
in^ ors, we confidently
expect to ncrease our present output to full capacity
(1,500 cars per annum) and pay dividends during the year
1914.
Our
factory is located only a short distance from the Long Island end of tl •
Queensboro Bridge, offering unusual facilities for upkeep of customers' cars
,
Penn-American Plate Glass
The
Madison
Co.—Receivership.—
County Superior. Court at Anderson, Ind., on Sept. 16
appointed the Farmers' Trust Co. of Anderson as receiver for this company
on petition, bv Pre
A. Guckenheimer of Pittsburgh.
The
.
andria has been idle since Feb.
plant at Alex¬
1912; there is also a small plant owned at
Pittsburgh, Pa.
The capital stock is $2,000,000 and there are $750,000
bonds outstanding (Fidalitv Tr. & Title Co. of
Pittsburgh, trustee) -and
about $500,000 notes.—V. 87, p. 1667; V. 81, p. 1104.
Pennsylvania Water & Power Co.—Dividend Omitted.—
A statement
issued
Sept. 23 says:
"In considering, the advisability of
the directors decided that while the con¬
a dividend o.i the stock,
dition of the company was very
paying
satisfactory, it was advisable to
earnings during the balance of the fiscal year."—-V. 97, p. 448.
conserve
People's Gas Light & Coke Co., Chicago.—New Of¬
ficers, dc.—Pres. Insult of Commonwealth-Edison Co. Made
Chairman.—The following changes were made on Thursday:
James F. Meagher of Chicago, First Vice-President,
long the active head,
was chosen as President to succeed George O.
Knapp of New York, who
retired; Samuel Insull, President of the Commonwealth Edison Co.; James
A. Patten and John J. Mitchell, President of the Illinois Trust &
Savings
Bank, all of Chicago, and all directors of the Commonwealth Edison Co.,
elected directors to succeed George O. Knapp, Walton
Ferguson and
The board consists of five members, the other
being Mr. Meagher and E. G. Cowdery.
The changes, it is stated, were made chiefly at the instance of C. K. G.
Billings, the D. O. Mills estate and the estate of Anthony N. Brady, large
stockholders, all of whom have their principal interests in the East, who
desired that Chicago public utilities should be administered by
Chicago men.
Mr. Insull is quoted: "Chicagoans will direct all the
company's affairs
hereafter.
Changes made are entirely friendly, and the result of negotia¬
tions between C. K. G. Billings and myself.
They are
were
the late Anthony N. Brady.
two
peculiarly appro¬
priate, because a very large proportion of the stock is now held here.,
Mr. Patten, it is understood, has long been a heavy
stockholder, but
„
Messrs. Insull and Mitchell, it is said, have only recently become Interested.
Rumors that the changes will lead to a merger of the
company and the
Commonwealth Edison Co., directly or indirectly, are denied
by
a
director.
Sept. 27
Issue—Dividend.—Press reports say that
quarterly dividend, to be paid in November, will be
2%, or at the yearly rate of 8%, as against the 7% now paid,
but that there will be no extra cash distribution as has been
rumored, and no distribution of surplus; also, that the
stockholders will be asked to authorize an increase in the stock
from $35,000,000 to $50,000,000, the stockholders to be of¬
fered the right to subscribe for 10% in new stock at par.
Stock
New.
the next
quoted as saying that the purpose of the new stock
ensure suffici nt funds for the treasury until the new
Public
Commission gets started and the question of issuing new stock
Chairman Insull is
offer is to
Utilities
against construction and other needs may
732.
Pure Oil Co.,
be passed upon by it.—V. 97, p.
Pittsburgh.—Earnings.—
Net earnings for the month of August were $194,852 and for the 8 months
■ending Aug. 31 $1,512,000.
For the calendar year 1912 they were $1,678,602.
(See annual report, V. 96, p. 945.)
'
•> •
It is reported in Pittsburgh that the directors will at their next meeting
declare an extra dividend of at least 6 % in addition to the regular 3 % on
the common stock.
In June and Sept. 2% extra was paid (V. 97, p. 241;
V. 96, p. 1233).
Prest. Braden recently said:
Virginian Power Co., New York.—First Lien Notes Of¬
fered—Prospectus.—A. B. Leach & Co. are placing at 983^
and int., yielding 7%, the entire auth. issue of $1,250,000
First Lien 6% gold notes dated Aug. 1 1913 and due Feb. 1
1915, but redeemable at any time on 40 days' notice at par
and int.
Principal and interest (F. & A.) payable at N. Y.
Trust Co.,N. Y. (trustee), and at Bank of Scotland , London.
Par $1,000 or £205 9s. 8d. (c*).
Circulars show:
^The purchasers of each $1,000 par value of notes will receive as bonus:
a) $100 (one share) of common stock, and also (b) rights to subscribe to
$1,000 of First and Collateral Trust M. 5% bonds (when and as issued)
at the underwriting price, with, in case of such subscription, an additional
bonus of one share or common stock with each $1,000 of bonds so taken.
The completion of the steam power plant and transmission lines will re¬
quire the expenditure of approximately $1,000,000 additional, and the pro¬
ceeds of the First Lien 6% notes will be so applied.
The demonstrated
earning power Of the plant after its completion will permit of the ready sale
of the 5% bonds on terms far more advantageous than could now be ob¬
tained.
Pending such date, and until the First Lien notes are redeemed,
the builders of the plant have agreed to accept 2d mtge. bonds for the
moneys expended by them, thus giving the purchasers of the notes a first
lien on all the property, rights, franchises and securities now owned or
hereafter acquired.
"Our investments have been exceptionally
heavy this past year, but the improvements are well worth the expendi¬
tures.
We have recently made a contract for wholesale gas to the north,
largely make up this coming year for the decrease
field."—V. 97, p. 241.
which will very
wholesale earnings from the Hogshooter
is erecting a steam power station at Cabin Creek Junction,
of 26,666 h. p. capacity and transmission lines in the KanawhaNew River coal fields, and has acquired the physical properties and water
rights of the Dominion Power Co. of West Virginia, and owns all the out¬
standing capital stock of the Dominion Power Co. of Virginia and of the
New River Power Co. of West Virginia, thereby securing valuable lands
and water rights along the New River in W. Va. and Va.
The field of
The company
in the
operations embraces the second largest coal-producing section in West
Virginia, containing over 222 operating mines with a combined output f( V
the year ended June 30 1911 of 19,172,489 tons of bituminous coal, and this
section furnishes an excellent power market for the company.
These notes are secured by pledge of $2,500,000 First and Collateral
Trust M 5% bonds secured by first mortgage upon the steam power station,
which, when completed, will have a generating capacity of 26,666 h. p.,
and transmission and distribution lines 160 miles in length, in process of
ereccion in the Kanawha-New River coal district of West Virginia.
Further
secured by deposit of the outstanding stock of the New River Power Co.
(subject to a purchase-money mortgage for $190,000) and by a first mort¬
gage (subject to purchase-money notes of $19,350) upon valuable lands and
water-power rights situated along the New River in W. Va.
The notes
offered are followed bv an authorized issue of $1,000,000 2d mtge. bonds
(see below), a large part of the proceedsof which has already been expended
n the construction of the present plant.
callable at 101H on any
days' notice.
Prin. and int. (J. & J.) pay-^
& Commercial Trust & Savings Bank, trus¬
tee (John K. Lyon, co-trustee).
Par $1,000, $500 and $100 (c*).
Prin.
and int. guaranteed by endorsement by G. A. Smith Lumber & Mfg. Co.
and C. A. Smith individually.
Remaining $600,000 issuable only on pledge
of additional "First & Ref. M." 6s, $1,250 of bonds for $1,000 notes.
■Collateral for
.
1st Lien Timber
Other
Present Notes—
Total.
Issued.
(Million Feet.)
' Security.
11 1913 and due July 1 1915, but
interest day, all or part, on 30
able in Chicago at Continental
..
First M. 6% bonds
(V. 94, p. 1321).
Co s lst&ref.M. 6s
out
only
coll.)
as
9,000$13,800,000 Mill($750,000)
$500,000 $6,000,000
Further Data from
-
2,096
3,000,000
1,500,000
3,125,000 Large equities
..$2,000,000 (Seebelow) 11.096S16,925,000
(See below)
The $6,000,000 1st M. 6% bonds cover in addition to 180,588 acres of
timber land (with 9 billion ft. of redwood, pine, fir, cedar, spruce, &c.)
in California and Oregon, a large saw-mill at Marshfield, Ore., making total
security valued at $14,550,000 (V. 94, p. 1321).
The "First 8c Ref. M." 6% bonds of Aug. 11 1913 are part of an author¬
ized $3,750,000, of which $1,500,000 are pledged for these notes and $1,500,000 to retire $1,400,000 Linn & Lane Timber Co. (closed) 1st M. bonds
(V. 91, p. 97), leaving $750,000 for future requirement?.
These bonds
Are
(1) a 1st M. on 33,368 acres of timber lands in Coos; Curry, Douglas
and Linn counties, Ore., and Clearwater CO., Idaho, with 2,096,000,000 ft.
of timber, practically all yellow fir, valued at $3,125,000; (2) a refunding
M. on (a) property covered by above 1st M., equity $8,550,000; (b) 70,000
acres of timber lands and 3,500 acres of timber rights in Coos,
Curry,
Douglas, Lincoln, Linn and Lane counties, Ore., with 4,296,970,000 ft.
of timber, largely yellow fir and a smaller saw-mill at Marshfield, $5,100,000
less Linn & Lane bonds, $1,400,000; net, $3,700,000; total net security for
""First & Ref. M." bonds. $15,375,000.
f.
Data
from
Letter by President C.
A. Smith, Sept. 1 1913.
.
by C. A. Smith individually and by the C. A. Smith Lumber & Mfg. Co.,
which owns or controls the manufacturing and transportation affiliated
companies, thus pledging the entire financial strength of all our com¬
panies.
We plan to concentrate our operations on the timber tributary
to the Marshfield mills and have given an option on 37,000 acres of timber
lands in Linn and Lane counties, Ore., being about half the property cov-
mortgage at a price more than
I have authorized also the
sale of our redwood timber.
The proceeds of these sales should retire a
large amount of our indebtedness.
Any balance of the collateral notes
•can be met by the sale
of collateral which may be released upon
the
payment to the trustee of $900 cash (or $1,000 of these notes) for each
$1,000 of collateral released.
|»Among the (unmortgaged) subsidiary cos. which I own or control are:
ered by the
-
Lane
Linn &
Timber
Co.
sufficient to retire all the Linn & Lane
bonds.
Logging Co., assets over $600,000; Inter-Ocean Transpor¬
$700,000; C.,A. Smith Lumber Co., Oakland, Cal.,
$1,750,000; Coos Bay Pulp & Paper Co., assets over $500,000,
and a main line railroad that has cost about $500,000.
'
1
'
This note issue provides funds to pay the indebtedness created during
the past year, on purchase of a large steel freight steamer, the construction
and equipment of our main line railroad, the purchase of timber and the
•construction of our pulp and paper plant.
See V. 94; p. 1321.
-Smith-Powers
tation Co., assets over
assets over
p4? Street's Western Stable Car Line.—Earnings.—
June 30.
'
Bond
Balance,
Total
Interest.
Surplus.
Surplus.
$85,323
89,782
$73,911
30,444
$1,446,459
1,396,895
—$159,234
120,226
1912-13
1911-12
—V. 95, p. 822, 1206.
,
•
.
Texas Power & Light
Co.—Bonds—Earnings.—
^ The bankers who previously offered the company's bonds (V.
have recently sold an additional $640,000 1st M. 5%, making
For year ending July 31 1913
increase $153,668; net earnings,
outstanding.
056,323,
.
Net (after
Maint. & Taxes).
■
p-Year—
95, p. 970)
$3,340,000
the gross earnings were $1,-,
$403,012, increase $21,229.
—V. 97, p. 121. 55.
Toledo
»
.
as
(O.) Home Telephone Co.—Neiv President, &c.—
On Sept. 1 Jethro G. Mitchell of Toledo succeeded James S. Bailey Jr.
Pres.; G. A. Ford is Sec.-Treas.
Has about 17,250 subscribers and is
payingf6% per annum on $1,275,500 capital stock.
Total bonds issued,
$1,650,000, of which $90,000 is in treasury and $321,900 in the
depreciation funds, leaving $1,238,100 outstanding.—V. 87, p.
United Shoe
H We have
sinking and
229.
Machinery Corp.—Methods .Changed.—
confirmed
that the company on Sept. 2 gave
Labor of Canada that it has taken steps tc
the statement
notice to the Department of
comply with the requirements of the Department.
An official says:
N4' As soon as the findings of the Board of Investigation were handed down
on Oct. 18 1912 (V. 95, p. 1210), the company began to make the necessary
Arrangements to comply with them.
Several weeks before the expiration
of the 6 months specified by the Board to make the changes suggested in
the method of doing business, instructions were given to our representative
In Canada to put out no more machines under the terms of the leases to
which objection had been made.
Since that time no machines have been
Issued under the eld leases, and wherever they have been supplied to shoe
factories it has been either on terms of outright sale or under new forms of
lease which are drawn to meet the wishes of the Board.
Certain machines
in what is known as our general department, which were formerly put out
on optional terms of either sale or lease are
now issued only on terms of
•outright sale.
Shoe manufacturers who have our machines under the old
leases are at liberty to substitute the new forms of lease, if they desire."
President Winslow in the last annual report discussed the matter at length
And pointed out that the general conclusions of the Board of Investigation
-differed from the contentions of the company in one respect only, viz.,
In holding that the object of the so-called "tying clauses" in certain of the
ompan y's leases is "rather to prevent the introduction of competing mahinery t han to establish continuity of operation," as claimed by the comcany to be necessary for the manufacture of shoes by machinery with the
ceatest efficiency and at the lowest c ^ to the public.—Y. 96,- p. 1845.
N. Y., Sept. 9 1913.
Sept. 25 1912)— Authorized.
Issued.
--$5,000,000
$5,000,000
5,000,000
1,120,000
15,000,000
1
-
Preferred stock, 6% non-cumulative
First & Coll. Trust M. 5% bonds,
—
An Oregon corporation, one of the largest timber concerns in America,
holding 284,000 acres with over 15,500,000,000 ft. of timber.
The total
possible debt, in case all authorized bonds were issued, would be only
63 cents per 1,000 ft. of timber.
"
.
These notes are unconditionally guaranteed, both p. & i., by endorsement
Letter of Pres. P. G. Gossler,
Capitalization (Incorp. in Mass.
Common stock
Total
•
:
W. Va.,
(C. A.) Smith Timber Co.—Guaranteed Notes Offered.—
Lyon, Gary & Co. and the Continental & Commercial Trust
& Savings Bank, Chicago, are placing at 98.35 and int.,
yielding over 7%, $1,500,000 guaranteed 6% collateral gold
notes of 1913. Total authorized $2,100,000. A circular shows:
Dated Aug.
891
CHRONICLE
THE
1913.]
*Ascollat.
•-_*
dated Dec. 1
1912, due Dec. 1 1942, but callable at 105 and int.
an annual cash sink, fund equal to 1% of out¬
for
standing bonds, beginning
notes
Dec. 1 1917—
First lien 6%
Second & Coll. Trust M.
.v-
—
6% bonds
1,250,000
1,250,000
1,000,000 All subscri d
these First Lien 6% notes.
provide funds to complete
Cabin Creek Junction, W.
Va., and the transmission lines, Ac., and the 2d and Coll. Tr. M. 6% bonds
are issued to liquidate the floating debt of the company and to provide
*$2,500,000 issued and pledged to secure
"
The First Lien
6% gold notes are issued to
the steam power station at
the construction of
additional funds for the construction purposes.
Plant.—The plans provide for the construction
"
of a steam power station
foundations with steel and brick superstructure, in which there
will be installed turbo-generators and accessories capable of generating
26,666 h. p., and the erection of transmission and distribution lines about
16Q miles in length to the rich coal fields of the Kanawha-New River coal
district.
Ample space has been made in the steam power station for the
installation of two additional units by which the capacity can be increased
to 53,000 h. p.
It is proposed to construct the main transmission line on
structural steel towers from the power station at Cabin Creek Junction to
Beckley, W. Va., and to connect this main transmission line with the con¬
sumers of the company by steel pole distribution lines.
A telephone line
of concrete
will
place the entire property
under direct supervision of the
management.
Estimated Income and Expenses.
Income:
From contracts now
gotiation
,
signed, $298,300; contracts under ne¬
Interest on
$485,300
311,300
$187,000
(oper. expenses, estimated
$1,250,000 First Lien 6% notes
Net estimated income
at $174,000)
—
75,000
bonds
-$236,300
Field of Operation.—The State reports show the Kanawha-New River
district to be the second largest coal-producing section in West Virginia;
containing over 222 operating mines with a combined output for the, year
ended June 30 1911 of 19,172,489 tons of bituminous coal, of which 18,108,282 tons were mined in Kanawha, Fayette and Raleigh counties, and these
counties will for the present embrace the principal market for our power.
It is estimated that in the counties just mentioned the power developed
by isolated plants operated by the mining companies is over 100,000 hp.
The steam power station and the water power sites are also within
easy transmitting distance of the Logan, Mingo and Elkhorn coal fields
of West Virginia and Kentucky, and while it is not contemplated to build
transmission lines to these fields at the present time, yet it is expected to
eventually furnish current therein.
A development of the water-power site
at Bluestone would make possible the transmission of power to Cincinnati,
where the powder requirements of industries are in excess of 100,000 h.p., and
also to Huntington, W. Va., Portsmouth, O., Louisville, Ky., &c.
Water-Power Sites.—We own or Control three large power sites on the
New River, located at Bluestone, Richmond Falls and Gauley Junction,
W. Va., and several other smaller water-power sites also along the New
River.
The estimated drainage area at the various sites varies from 4,400
sq. miles at Bluestone to 6,250 square miles at Gauley Junction.
The
available power at the three principal water-power sites is estimated about
as follows:
Bluestone, 125,000 k. w.; Richmond Falls, 15,000 k.-w.; Gau¬
ley Junction, 30,000 k.w.; total, 170,000 k.w. '
' ■
It is contemplated that, upon proper authorization, the initial waterpower development will be made at Bluestone, W. Va., where the condi¬
tions are favorable for the erection, of a dam 140 feet in height with a crest
length of approximately 1,800 ft. connecting two chains of mountains
and forming a lake with a surface area of about 8,500 acres.
We already
own considerable land and flowage rights in the valley, and have secured
options to purchase hundreds of acres required.
Annual Production of Bituminous Coal in West Va. (Long tons—000 omitted),
1897.
1900.
1903.
1906.
1909.
1910.
1911:
11,705
18,886
22,913
37,403
41,671
52,923
54,033
Balance
applicable for interest on 2d mortgage
....
—V. 95, p.
1213; V. 96. p. 1845.
Western
The
States
California
RR.
Gas & Electric Co.—Authorized.—has approved the request to issue
Commission
$354,000 additional 30-year 5% bonds to pay for improvements
tions already made, principally to the gas and electric property at
and addi¬
Stockton.
is a subsidiary of the Standard Gas & Electric Co. and is
managed by H. M. Byllesby & Co.
During the year ending Aug. 1 1913 the Stockton company's electric
customers increased 1,678, or 29%; power business connected increased
4,664 h.p., or 40%, and the number of gas customers increased 686, or 12%.
—V. 97, p. 670.
The company
Western Union
Telegraph Co.—Change of Year} &c.—
will vote on Oct. 8 on changing the fiscal year so as to
instead of June 30. as heretofore, and the date of the annual
The stockholders
end on Dec. 31
meeting from the second Wednesday
in April.—V. 97, p. 600. 242.
Western United Gas
in October to the second Wednesday
^
& Electric Co.—Neui Bond Issue—
Offering.—The company has recently made,a mortgage to
not over $20,000,000 general mortgage bonds, of which
$5,000,000 are reserved to retire underlying bonds and $14,000,000 for future requirements, while the, remaining $1,secure
893
THE
CHRONICLE
[Vol.
\
000,000, issued
as serial 6% bonds to retire the $450,000
debentures and for extensions and
improvements, are now
offered at par and int. by
A circular shows:
Dated Aug.
1
Jpxr Commercial Jimes.
Howard, Simmons & Co., Chicago.
COMMERCIAL
1913.
Par $100, $500, $1,000.
Callable on any interest
Interest P. & A. at First Trust & Savings Bank,
Chicago.
Principal due in semi-annual installments beginning Aug. 1 1914,
1 of $50,000, 2 each of $75,000,
$80,000, $85,000 $90,000 and $95,000
date at 102)4 and int.
and the final of $100,000.
The balance of $14,000,000 escrow bonds all mature
Aug. 1 1950 and are
redeemable after 10 years at 102)4 and int.
The rate of interest to be fixed
not to exceed 6%.
They may be certified: 1. As the serial 6% bonds herein
offered become due and are paid.
2. For 70% of cost of extensions or bet¬
ports of wheat for the week
The total thus far this
ing period last
Preferred stock, authorized and
outstanding
Common stock, authorized, $5,000,000;in
is still undecided.
$1,500,000
3,000,000
Earns, for Year end. Jan. 31 (Gas Sales Yr.
1912-13, Total 1,017,049,200cu.ft.)
1905-06.
1907-08.
1909-10.
1911-12.
1912-13.
Gross
earnings
Net (after taxes),
Has
paid
$532,759 $988,485 $1,102,939 $1,312,128 $1,359,339
$526,971; int. on bonds out, $236,206; bal., sur.
290,765
regularly 6%
on
$1,500,000
pref.
stock
since
organization*
Present market value of the pref. and common stocks outstanding is esti¬
as at least
$6,000,000, affording a substantial equity.
mated
Communities Served.—Operates without competition in 43 cities and tov nsf
total combined
population, 200,000, serving gas in all, and electric current
Wheaton, Glen Ellyn and Montgomery.
Among the places
exclusively with gas are Batavia, Geneva, St. Charles, Joliet, West
Chicago, Plainfield, La Grange, Cary, Elgin, Elmhurst, Union, Naperville and Huntley.
Control, Ac;—A majority of the capital stock is owned by the manage¬
in
Aurora,
served
ment and local capitalists in Aurora and Joliet.
The American Gas Co. of
Philadelphia is a large stockholder.
I. C. Copley is President and person¬
ally directs the oporation.
Properties.— (1) Modern electric station, containing steam turbine units
of 2,200 k.w. capacity, located at Aurora, distributing current
locally.
High-tension transmission lines will also probably be run to serve other
situations acquired.
(2) Gas is bought under a favorable long-time con¬
tract and at a substantial saving over former cost from the Coal Products
Mfg. Co. of Joliet (see V. 97, p. 368), which company is owned by interests
identical
Western
Western United Gas & Electric Co. stockholders.
The
United also maintains auxiliary gas plants at Joliet, Aurora,
with
Elgin and La Grange.
The Coal Products Mfg. Co. has mortgaged its
property to the Western United to guarantee above contract. (3) 747 miles
of high and low-pressure mains.
There are now connected 37,669 gas me¬
ters and 2,839 electric meters; also 32,596 gas ranges.
Franchises.—These run for 20 to 50 years in the principal cities and towns.
Compare V. 97,
p.
379; V. 92, p. 961.
—A bond office has been opened under the name of An¬
drew Bain' at 807 North Second Street, St. Louis.
In a
letter to us Mr. Baur says that for forty years the firm of
Baur
& Regel and the Baur Flour Co., successors, flour
merchant?, invested for their customers over 15 million dol¬
lars in municipal bonds and never made an investment
which did not pay interest and
principal as agreed.
The
bond and stock brokers' license, which has
just been taken
out, was required under the Missouri laws.
Andrew Baur,
in whose name the license was issued, has been identified
with the bond business for
—Jn
news-item
a
over
twenty
years.
appeared in this column last
week, we incorrectly stated the offering price of the unsold
maturities of the $250,000 convertible debenture
6% bonds
of the Exchange Buffet Corporation as advertised last week
in the "Chronicle" by Millett, Roe &•
Hagan of 52 William
St.,> New York, Boston and Hartford. We stated that,
having sold over 90% of the entire issue of these binds, the
bankers were offering the balance on a 6}4%
basis, which
was
incorrect, and should have been "6}4% basis."
—The banking house of Clark, Dodge &
Co., 51 Wall St.,
is offering to
investors, on another page, New York & West¬
chester Lighting Co. gen. mtge. 4% gold
bonds, due July 1
2004
and 5% debenture gold bonds due July 1 1954.
The
bonds are guaranteed as to principal and interest
by the
Consolidated Gas Co. of New York and are
tax-exempt in
New York State.
Price to yield 5.05%.
Complete descrip¬
tion will be mailed
upon request.
—In its 1913 edition, "Walker's Manual of California Se¬
curities and Directory of Directors," has again been
enlarged
to ipclude a large number of
companies which were not given
in earlier editions, with additional information
concerning
those previously presented.
Earnings and balance sheets of
public service corporations are presented, which are of much
value
and
interest.
Address 454
Montgomery St.,
San
•
—IX. F. McConnell, formerly of Williams, McConnell &
Coleman, 60 Wall St., has formed a co-partnership under the
name of H. F» McConnell &
Co., with offices at 25 Pine St.,
where^ they will transact a general
brokerage business,
making a specialty of dealing in public utility securities.
Associated with Mr. McConnell will be W. F. Preston and
Langhorst.
A
—The entire issue having been
F. W.
Co.
sold, Lee, Higgin«on &
of New
York, Boston And Chicago, and Higginson &
Co. of London are advertising elsewhere in the "Chronicle"
for permanent record their
joint offering of $4,500,000 Bell
Telephone Co. of Canada 5% bonds, due 1925.
These
bonds were offered to investors at 98
3^ and interest, yield¬
ing 5.15%.
^
—The article
"Important Industrial Consolidations of the
Explained," by Charles R. Flint, of Flint &
Co.,_ industrial organizers, 25 Broad St., this city, has been
United States
reprinted from the
1913.
A copy
"New York Commercial"
will be mailed
on
of
Sept.
11
request to all inquirers.
—Roland T. Meacham,
Cleveland, is recommending by
6% cumulative preferred shares of two of the
Doherty & Co. holding corporations, Cities Service
•ircular the
H. L.
Co. and Utilities
Improvement Co.
-
—Richmond, Dorrance & Co. of Providence
announce the
member of their firm of Walter G.
Brown,
Treasurer of the Union Trust Co. of Providence. 1
admission
formerly
as
—Reed A.
a
Morgan & Co., Philadelphia, have issued
elaborate circular regarding American Gas &
Electric Co.
year.
were
season
close to 6,000,000 bushels.
is far ahead of the correspond¬
The question of taxing cotton futures
Collections
are
better
as
the crops move
freely.
The textile industries seem to be. in good shape.
Seeding of the new winter-wheat crop is active.
Copper is
somewhat easier in price but the statistical
position is con¬
sidered strong.
The number of idle freight cars is decreas¬
ing.
On the whole the business outlook is considered
hopeful, though some irregularity is noted in certain lines.
LARD has been quiet; prime Western 11 40c; refined for
the Continent 11 80c; South American 12 55c; Brazil in
kegs
13.55c.
Lard futures have shown some decline, with
larger
receipts of hogs. Packers have been selling October. There
has been some changing from October to November.
The re¬
ceipts of hogs at Western points since March 1 1913 amounts
to 13,611,000, against 12,945,000 in the same time last
year.
To-day prices were higher, with hogs up 10 cents.
There
was some
covering of shorts and fair buying for long account.
more
DAILY CLOSING PRICES OF LARD FUTURES IN
CHICAGO.
Sat.
Mon.
Tues.
Wed.
Fri.
Thurs.
September delivery_cts.l 1.15
October delivery
11.17H
January delivery
11.02)4
May delivery.
11.15
11.20
11.10
11.05
11.221*
11.07)4
11.10
10.97)4
10.92)4
11.20
11.10
11.05
11.05
an
.
11.00
11.02H
10-97^11.00
10.90
10.90
11.02)4 11.05
PORK
steady and in fair demand; me?s $23 50@$24J
clear $20 25@$22 50;
family $24 50@$26 50.
Beef quiet
but steady; mess $18@$19; packet
$19@$20; family $20@
$22.
Extra Indian mess $28@$30.
Cut meats steady;
pickled hams, 10 to 20 lbs., 143^@15c.; bellies, clqar New
York, 6 to 12 lbs., 13%@16c.
Butter, creamery extras,
32@32X£c.
Cheese, State whole milk colored specials,
16M@16Mc.' Eggs,
fresh
gathered
extras,
33@35c.;
firsts 31@32c.
OILS.—Linseed steady; City raw, American seed, 50@
52c.;
boiled 52@53c.
Calcutta 70c.
Cottonseed lower;
winter 7.60c.;
summer white 7.20c.;
Cochin 13%@14c.;
Ceylon 1134@lll^c.; Chinawood 7h£@7%e.
Corn 6.50@
6.55c.
Cod, domestic, 40@42c.
Newfoundland 44@46c.
COFFEE has been firmer at home and abroad with
which
Franciso.
EPITOME.
Friday Night, September 26 1913.;
More seasonable weather has
improved trade in certain
directions.
The grain crops are moving
freely.
The corn
crop was not seriously damaged by recent frost.
The ex¬
terments when the net earnings equal twice the bond interest
requirements.
treasury, $2,000,000;
xcvii.
demand to
some
European buying here has offset selling
by large roasting concerns.
Santos quotations have been
stronger in the face of increasing receipts.
Some decrease
in the receipts is expected, however, in the near
future, at
Santos,
No. 7 spot Rio here 9%e.; fair to good Cucuta
11 ^@123^c.
To-day coffee futures were higher with large
trading.
Crop advices from Brazil were less favorable and
Brazilian receipts were smaller.
Some large local interests
are said to have
bought freely of late.
Closing prices follow.
cover.
September >_9.28@9.29 January
9.52@9.53 May
9.17@9.18 February
9.60@9.63 June
March
_J_9.72@9.73 July..
December—9.42@9.43 April
9.78@9.79 August
October
November __9.29@9.31
9.83@9.84
9.90@9.91
9.97@9.98
9-98@10.00
SUGAR.—Raw lower with centrifugal, 96-degrees test,
3.61c.; muscovado, 89-degrees test, 3.11c.; molasses, 89degrees test, 2.86c.
The receipts at Atlantic ports for
the week were 53,712 tons, against 21,201 in the previous
week and 42,367 last year,
The total stock is 215,766 tons,
against 102,421 last year.
The estimated meltings are
49,000 tons, against 59,000 in the previous week and 58,000
last year.
Granulated 4.70c.
PETROLEUM firm; barrels 8.70@9.70c., bulk 5@6c.,
cases ll@12c., Pennsylvania dark $2
50, second sand $2 50,
Tiona $2 50, Cabell $2 07, Mercer black $2 00, New Castle
$2, Corning $2, Wooster $1 91, North Lima $1 39, South
Lima $1 34, Indiana $1 34, Prince $1 39, Somerset, 32-degrees and above, $1 35; Illinois $1 30.
Naphtha, 73 to 76degrees, in 100-gallon drums, 243^c.; drums $8 50 extra.
Gasoline, 86-degrees test, 29p£c.; 74 to 76-degrees 25^c.;
60 to 70-degrees 22X^c.
Stove 21c.
Spirits of turpentine
42@4234c.
Strained to good rosin $4 05.
TOBACCO.—Trade as a rule has been rather quiet.
A
fair demand, however, has, prevailed for leaf.
The smallness of the supply of binder naturally tends to restrict trans¬
actions.
The outlook for filler in Pennsylvania is less fa¬
vorable.
Packers have been buying up supplies in Wiscon¬
sin, where the crop, by the way, is tinning out to be larger
than was at one time expected.
Sumatra meets with a mod¬
erate demand.
Cuban leaf is firmly held, with a fair in¬
quiry, particularly for Remedies.
COPPER has been rather weaker, with some
falling off
in the demand for the moment and rather
larger offerings.
quotations have also been easier.
Lake here 16%c.;
electrolytic 16.50@16.55c.
Tin has fallen to 41.90c. on the
spot, but it has latterly been firmer with a fair demand for
forward delivery. London has of late been active and firmer.
Lead here 4.70c. on the spot; spelter 5%e.
Hg iron has been
in steady demand and firm.
No. 2 East $15@$15 50; No. 2
Southern Birmingham $11 @$11 50.
Bar iron $1 40.
Fin¬
ished steel has been rather quiet, awaiting the effect of the
new tariff, which is expected to go into effect next week.
|It
adds many iron and steel products to the free list and re¬
duces the duties on others.
Yet it is remarked that in spite
of all drawbacks steel products have yielded in
prices but
slightly.
'
*
London
,
893
CHRONICLE
THE
1913.]
SEPT. 27
On
Shipboard, Not Cleared for—
COTTON.
i
Ger-
Other
Friday Night, Sept. 26, 1913.
Sept'26 at—
many.
Foreign
MOVEMENT OF THE CROP, as indicated by our
THE
New Orleans.
South to-night, is given below. For the
ending this evening the total receipts have reached
telegrams from the
wise.
week
the
of 82,064
—
2,698
24.629
10,860
4,000
1,400
1*666
5",734
4",566
932,916 bales for the
increase since Sept. 1 1913
Total 1913—
Total 1912. .
Total 1911—
67,952
74,719
74,516
47,942
62,587
29,987
69,324
54,275
bales.
162
7,000
15,000
i",66o
l',266
l".206
18,000
16,076
7,000
18,346
7,000
3,400
37,000
704
10,754
46,338
10,343 212,919
17,701 223,246
267,828
412,837
10.775 180,560
24,095
31,515
24,918
Speculation in cotton for future
25,483
56,525
73,313
36,450
18,261
8,736
2,962 10L.907
29,530
20,949
-
Stock.
Total.
219
946
Norfolk
New York
Other ports—
period of 1912, showing an
same
Charleston
Mobile
1913 1,104,980 bales, against
Sept. 1
_
Savannah
1,156
24,382
12,670
bales last week and 217,200
previous week, making the total receipts since
367,522 bales, against 329,018
bales
3,717
28,985
6,000
2,000
11,050
Galveston
Leaving
Coaslr-
Britain. France.
Great
332.903
delivery has been fairly
rising prices. Some reactions,
partly to fear of adverse legis¬
Galveston
17,732 25,396 35,699 24.308 22,724 20,463 146,322
lation at Washington in regard to futures.
The ques¬
2,546
19.581
4,120
3,464
4,566
4,885
Texas City__
tion of taxing futures has been in the hands of a conference
Port Arthur
2,820
2,820
Aransas Pass. <fcc
committee of the United States Senate and the House of
2,555
17,524
3,305
3,912
2,892
2,055
2.805
New Orleans
18,082
5,262
2,771
Representatives and conflicting rumors in regard to the action
959
1,530
3,745
Mobile
3,815
200
200
Pensacola
of this committee have agitated the market and
kept the
"436
436
Jacksonville, (Secwhole trade in a state of uncertainty.
Late in the week it
12,716 15,123 92,934
12,833 16,748 22,668 12,846
Savannah
12,000
12,000
was announced that the conferees had failed to reach an agree¬
Brunswick
2,632
3,412 27,211
5",054
4,640
7", 515
3,958
Charleston,.
ment in regard to the measure and that it would be referred
18,797
2,342
3,217
2,906
3,707
3,462
3,163
Wilmington
8,913
1,454
1,742
1,132
back to the House and the Senate for the action of those bodies,
1,203
749
2,633
Norfolk
216
216
N'port News, &c
It is quite generally believed that the Clarke amendment pro¬
New York
""88
15
22
50
viding for a tax of $50 per 100 bales will not be adopted
Boston
2,398
2,398
Baltimore
but that the so-called Smith-Lever compromise will be passed.
Philadelphia....
It provides for perhaps a nominal tax of 50 cents per 100 bales
Totals this week.
45,256 63.653 80,190 54,154 52,939 71,330 367.522
and a stipulation that contract dealings in futures shall be
on the basis of nine Government grades, with possibly some
The following shows the week's total receipts, the total
penalty if this provision is not followed. In reality, the whole
subject is in the air.
It is not at all certain just what form the
since Sept. 1 1913, and the stocks to-night, compared with
actual compromise will take, assuming that a compromise
last
thurs.
Wed.
Tues.
Mon.
Sat.
Total.
Fri.
active and much of the time at
however, have occurred owing
year:
will
1913.
Receipts to
Sept. 26.
This
Since
Week.
146,322
19,581
Galveston
Texas City
Port Arthur.....
Week.
559,056
56,627
458,121 186,815
33,214 33,869
15", 920
45,675
21,399
"
1,248
17.993
1,248
33,443
7,332
34,219
9,941
19",666
36.607
17,983
168
"""313
"""727
""'168
58,894
5,500
21,977
125,877
28.250
38.561
102,843
23,394
43,450
82,362
10,614
30,564
23,996
12,938
39,652
27,208
20,670
7,704
22,699
18,098
264
1,391
14,154
3,457
3.621
117,781
1,621
1,840
480,747
636.083
43,216
"
18",082
92,934
12,000
27,211
34,293
1,299
1,559
243,119
52,100
70,161
18,797
8,913
216
Mobile
39,951
13,895
1.276
Pensacola
200
Jacksonville, Ac.
436
Savannah
;
Brunswick
......
Charleston
Georgetown
Wilmington
Norfolk
N'port News, Ac.
York
48
...
""88
Philadelphia
147
"""242
667
2,398
Boston
Baltimore
4,202
101
1,617
945
....
932,916
367,522 1,014,980 373,946
Totals
In order that
comparison
may
be made with other years,
for six seasons:
give below the totals at leading ports
we
245,710
42,482
158,432
2,738
2,820
17,524
Orleans
Gulfport
New
1912.
1913.
"
Aransas Pass, <fcc.
New
Since Sep
1 1911.
This
Sep
1 1912.
1913.
1912.
1911.
1910.
1909.
1908.
146.322
22.401
17.524
18,082
92.934
12,000
186,815
161,043
8,099
160,584
142,162
117,977
Charleston ,&c
27,211
Wilmington..
18,797
8,913
21,977
23,996
12,938
14.523
29,531
8,803
94,930
16,103
18,266
29,408
8,035
31,755
10,867
105,524
9,500
15,270
28,078
26.347
Receipts at—
Galveston
Texas
City,Ac
New Orleans.
Mobile...
_.i
Savannah....
•
Brunswick
Norfolk
35,117
17.993
23,512
10,498
131,192
9,941
58.994
£.500
.
19,200
27,405
25,017
24,597
16,693
328
■
41,596
14,823
84,774
13,275
13,626
26,053
16,971
216
264
128
147
189
492
3; 122
511
6,834
2,430
1,171
8,901
367.522
373,946
437,525
391,418
378,898
338,816
N'port N.,&c.
All others
Total this wk.
Since Sept. 1. 1.014.980
926.908 1,094,513 1,020,453
932,916 1,150,635
Representatives, and President Wilson himself are in favor
a measure which shall eliminate the harsher provisions
of the original Clarke amendment.
The consensus here is
that
unless
drastic
legislation
is
adopted
against
the
system
of trading in futures, the general sit¬
uation favors higher prices.
There is some emphatic dis¬
sent
to
this view,
however.
Oftentimes in the past
a sharp advance in August and September has been followed
by an equally sharp setback in October.
From parts of
Southern Texas very favorable crop advices are being re¬
ceived.
It is also contended that the recent rains will un¬
der ordinary circumstances insure a good top crop in that
State.
It is assumed that, as usual in times of excited
speculation, there has been more or less exaggeration of any
damage which may have occurred.
Some Texas people
take the ground that the recent cold snap in that State really
points to a late fall, since such low temperatures as have pre¬
vailed were abnormal and therefore unlikely to last.
Also
the receipts at many port and interior towns have been large.
The long interest at one time had grown to rather unwieldy
proportions and on Wednesday morning there was a sudden
reaction.
The South has been a heavy seller.
At times, too,
large Wall Street
operators
have sold with a free
hand.
But, rightly or wrongly, the general belief is that the
crop this year will be considerably less than the world's con¬
sumption.
Also it is argued that spinners entered the new
season with reserve supplies very much smaller than those of
last year.
Spot markets have been firm.
The Continent
has been buying heavily in Liverpool. . That market has
been influenced by bad crop accounts from this country,
especially from parts of Oklahoma, Arkansas, Tennessee and
Texas, and also, it is understood, by adverse crop advices
from Egypt.
Temperatures over the whole of our cotton
belt have been low, with light frost over the eastern section
of
and also in the Panhandle
for the week ending this evening reach a total
of 219,717 bales, of which 120,038 were to Great Britain,
11,777 to France and 87,902 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1913.
of 1 to
to
tax
14.10c.
Week ending Sept.
,
From Sept.
26 1913.
Exported to-
,
1 1913 to Sept. 26 1913.
Exported to—
Exports
47,961
Galveston.
Texas
City.
nent.
Total.
45,614
BrUain. France.
93,575
9,213
9,213
Ar.Pass,&c.
Mobile..
10,213
3,350
1.277
17,290)
New Orleans
_
9~000
Brunswick
"200
9,878
200
9,537
4,650
35,827
9,500
.
Charleston.
Wilmington
19,378
9,054
9,054
York.
Boston
4,650
Britain.
115,920
9,213
12,088
13,545
3,350
1,099
17,290
6,010
9,878
...i
Baltimore.
ll'lli
1,500
17
"5", 129
20,440
2,915
1,050
41,971
5,342
3,328
2,664
1,050
150
150
Fran..
1,629
1,550
12",500
Total
Total
1912.
326,601
"M30
27,704
3,350
1,299
45,287
19,300
303
3,603
34,611
75,077
25,310
19,378
Sept. 20 to Sept. 26—
Middling uplands.
YORK
NEW
1913.C
1912...
1911
1910
1909
1908
1,030
80,185
1907
1,509
^
New York market each
20,840
1906
11,163
2,859
14.10 1905.
11.65 1904
10.55 1903
13.60 1902
13.60 1901
9.40 1900
11.80 1899
9.60 1898
195
7,033
2,475
87,902 219,717
251,479
71,434
312,280
MARKET AND
13.60
13.60
11.10
11.00
11.25
9.00
8.25
10.75
6.75
5.31
1897.C
1896.
1895.
14.10
13.75
1894.
1893.
1892.
1891.
1890
11.12
1888——10.44
1887
9.62
9.38
6.50 1886
10.06
8.19 1885
10.31
7.62 1884
10.50
8.69 1883
12.12
10.38 1882
6.75
1889.C
8.44
8.75
SALES AT NEW Y IRK.
94,099
18,233
72,616 184,948
251,611
68,915
180,132
500,658
Note.—N. Y, exports since Sept. 1 include 1,100 bales Peruvian to
SALES.
Futures
Spot Market
635,193
Closed.
Market
Closed.
Steady, 20 pts. adv. Steady
Saturday
j
Steady, 5 pts. dec-. Steady
Monday
Steady, 5 pts. adv.. Steady
Tuesday
Steady
....
Wednesday. Quiet
Steady, 15 pts. advi Firm
Thursday
Steady, 35 pts. adv. Strong....
Friday
Spot.
Contr'ct
Total.
__
Liverpool.
telegrams to-night also
give us the following amounts of cotton on shipboard, not
oleared, at the ports named.
We add similar figures for
Mon.
13.55
QUOTATION FOR 32 YEARS.
c
2,475
11,777
New York.
Sat.
13.60
.
in the
week has been: '
Tues. Wed. Thurs. Fri.1'
7,033
120,038
In addition to above exports, our
for middling upland cotton
day for the past
6,851
7,835
American cotton
excellent shape.
sections of Texas
inches and reports of damage.
Advices in regard
legislation were conflicting.
Spot cottcFn closed at
for middling uplands, showing an advance for the
week of 70 points.
The official quotation
11,950
12,088
9,500
11,786
1,550
San
160,479
"Too
1,629
Pt. Towns'd
Phlladel'a.
Total.
727
7,826
950
1,965
.
50,202
nent
2,737
France.
9,054
""l7
Norfolk
New
16", 719
3,350
Pensacola..
Savannah
5,229
Conti¬
Great
Conil-
Great
from—
English spinners have
of Texas.
calling more freely for. cotton.
The
manufacturing business is said to be in
To-day prices advanced on rains in many
been
The exports
The common understanding here is that
Underwood, Democratic leader of the House of
be adopted.
Oscar W.
Stock.
1912.
2,515
"600
3",U5
"loo
'166
700
3,215
...
Total
2.515
894
THE
FUTURES.—The
CHRONICLE
highest, lowest and closing prices at
New York for the past week have been
Saturday,
Monday, Tuesday, Wed'day, Thursd'y, Friday,
20. Sept. 22. Sept. 23. Sept. 24. Sept. 25. Sept. 26.
Sept.
Week.
detail below.
Sept.—
•
13.45 —'13.48 — 13.46-.51 13.51-.65 13.47-.60 13.75-.03 13.46-.03
13.37-.39 13.30-.31 13.51 — 13.51-.54 13.62-.64 14.03-.04
—
Range
Closing..
Oct.—
I
Range
.
Closing,.
Nov.—
Range
Closing..
-
Range
13.30-.46 13.24-.52 13.36-.48
,33-.52 13.35-.49
13.38-.40 13.27-.29, 13.43-.44
»Closing..
.40-.41 13.48-.49
Jan.—
1
*Range
13.7-9
Ala., Eufaula..
Selma
Little
20-.44 13.25-.39 13.45-.66 13.15-.66
13.28-.29 13.19-.21 13.36-.37
.32-.33 13.38-.39 13.65-.67,
—!
13.24
Closing..
—^13.40
—
Athens
Augusta
I
Closing..
April—
13.38-.40; 13.29-.30 13.4fr-.47
13 .42-.44 13.47-.48 13.76-.77
Range
Closing..
May
2,731
1,702
2,554
4,439
11,644
3,125
_____
Columbus
f
Macon
13.29-.45l 13.25-.50 13.36-.5013 ,35-.53 13.36-.48 13.55-.77 13.25-.77
_.
1
Rock..
Atlanta
13.24-.40
13.38-.4013 ,34-.36 13.40-.42 13.67-.69
13.30-.32(13.21-.23
March—
Range
13 .40
864
Ga., Albany...
,
Rome
—
—
La., Shreveport
Miss.,Columb's
Greenville
___
Greenwood
;
City..
1,070
Mo., St. Louis.
N.C., Raleigh-O., Cincinnati.
2,680
Okla.', Hugo___
S.C., Greenw'd
Tenn. .Memphis
900
Range
13.34-.47 13.32-.55 13.45-.57 13.44-.61 13.43-.55 13.64-.85 13.32-;85
Natchez
Closing..
13.43-.44 13.35—36 13.5fr-.57 13.49-.50 13.54-.55 13.82-.84
Vlcksburg
June—
„'
'Range
39
_.
Closing-.
13.30-.46 13.45-.50 13.50
,<ir
—13.46-
39-.il 13.30-.31il3.49-.50.13.43-.45
Closing..
August—
_.
Closing..
THE VISIBLE SUPPLY OF COTTON
—'l3.30-.59
—
—
I
September 26—
1911.
449,000
29,000
507,000
12,000
57,000
283,000
8,000
18,000
275,000
7,000
16,000
483,000
17,000
77,000
83,000
2,000
10,000
bales.
576,000
10,000
165,000
92,000
2,000
11,000
298,000
11,000
67,000
58,000
5,000
Stock at Manchester
„
Total Great Britain stock
Stock at Hamburg
at
1910.
•
6,000
,
Stock at Barcelona.
Stock at Genoa..
......
Stock at Trieste
Total Continental
stock..!..'.
Total European stocks
India cotton afloat for Europe
Amer. cotton afloat for Europe.
10,000
"6,000
7,000
296,000
143,000
Egypt,Brazil,&c.,aflt.for EuropeStock in Alexandria, Egypt
Stock in Bombay, India
872,000
58,000
363,501
27,000
62,000
391,000
636,083
228,883
38,018
452,000
24,000
499,500
453,000
52,000
360,469
34,000
63,000
315,000
375,820
164,701
82,315
96,000
434,000
480,747
223,769
23,813
Stock in U. S. ports
Stock in U. S. interior towns
U. S. exports to-day
26,000
37,000
356,000
513,463
273,380
91,211
.
,
.
Liverpool stock.'
bales.
274,000
Continental stock
41,000
264,000
363,501
636,083
167,000
473,722
American afloat for Europe.....
If. S. port stocks.
U. S. interior stocks
U. S. exports to-day.
352.000
17,000
„
1
480,747
223,769
23,813
!—
148,000
11,000
98,000
499,500
513,463
273,380
91,211
228,883
35,018
197,000
13,000
122,000
360,469
375,820
164,701
82,315
5,006
1,660,051
1,920,485
1,634,554
1,315,305
175,000
155,000
12,000
135,000
16,000
7,000
45,000
24,000
26,000
37,000
356,000
78,000
7,000
3,000
33,000
52,000
34,000
53,000
315,000
East Indian, Brazil, &c.—
Liverpool stock
'..i
London stock
5,000
12,000
....
Manchester stock
__i
Continental stock
40,000
85,000
....
India afloat for Europe
^
Egypt, Brazil, &c., afloat
33,000
...
Stock in Alexandria, Egypt
96,000
434,000
Stock In Bombay, India
8,000
32,000
58,000'
27,000
62,000
391,000
Total East India, &c.-___.
880,000
753,000
1,660,051 1,920,485
....
638,000
>575,000
1,634,554 1,315,305
7,888
46,848
7,490
4,373
5,087
15,959
2,976
3,458
3,405
1,964
1,409
1,048
1,867
5,501
1,476
3,383
1,450
2,540,051 2,673,485 2,272,554
6.59d.
6.1 Id.
•
7.85d.
Middling Upland, New York
11.55c.
14.10c.
10.40c.
Egypt, Good Brown, Liverpool._
10.80d.
10Hd. 10 ll-16d.
Peruvian, Rough Good, Liverpool
10.00d.*
9.00d.
10.40d.
Broach, Fine, Liverpool
1
6%d.
6%d.
6d.
6 3-16d.
Tinnevelly, Good, Liverpool
6 l-16d.
6 15-16d
1,890,305
7.61d.
13.75c.
....
1,000
7,713
2,800
3,921
"ill
5,130
7,225
3,338
3,061
35,525
6,134
1,704
1,200
3,028
2,411
25,754
2,684
1,441
1,383
257
1,933
3,141
2,000
2,616
2,276
3,656
10,591
2,025
1,672
2,080
2,132
3,387
18,791
408
■
18,109
1,395
1,786
5,806
653
1,012
840
1,115
348
596
435
205
418
1,276
18,955
500
750
875
562
600
905
651
11,064
956
300
2,887
1,389
3,467
3,380
723
3,181
1,508
14,101
1,015
2,159
3,347
3,161
1,714
4,155
138
821
1
356
248
134
3,228
7,396
2,236
2,641
3,600
2,789
964
7,247
748
1,431
1,500
1,886
1,629
602
830
4,875
8,764
92
928
125
2,042
2,300
4,275
1,464
1,131
875
,
313
795
■
"71
800
3,034
759
2,392
1,375
443
75
890
3,229
1,055
1,289
1,897
412
400
242
20,371
1,287
1,314
3,430
25
37
917
142
.500
500
900
14,834
2,908
18,587
1,144
2,372
278
443
442
25
141
679
7,591
1,224
2,716
6,800
2,539
3,687
79,811 204,195
5,022
7,852
5,533
1,500
1,000
10,241
3,852
5,377
1,200
451,333 126,934
5,000
15,256
3,563
Paris.!
840
4,228
2,200
136,418
7,000
Total, 33 towns 228,839
1,223
2,088
4,196
5,715
21,100
..
705,961197,705 223,769 295,000
8,153
571,356
17,014
1,204
1,020
1,925
2,609
5,800
5,500
3,012
2,460
191,509 107,292
4,676
6,117j
775,741250,736228,886
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—-We give below a statement
showing the
overland movement for the week and since
Sept. 1, as made
up from telegraphic reports Friday night.
The results for the
week and since Sept. 1 in the last two years are as follows:
•1913-
Sept. 26
Shipped—
-1912Since
Week.
Via St. Louis
Sinee
Sept. 1.
8,119
2,887
Via Cairo
Week.
Sept. 1.
4,579
759
i
206
661
256
776
Via Rock Island
Via Louisville
Via Cincinnati
1,037
3,841
"849
701
2,226
776
Via Virginia points
Via other routes, &c
2,984
4,622
5,642
493
9,881
2,364
1,556
1,878
3,229
3,474
-.12,437
30,448
5,497
15,542
2,486
1,102
1,059
4,397
1,917
4,380
343
78
...
Total gross overland
Deduct Shipments—
:
Overland to N. Y., Boston, &c
Between interior towns
—
__
Inland, &c., from South
Total to be deducted—_
*
56
2,284
263
880
755
5,615
4,647
Leaving total net overland *—
10,694
1,361
8,779
7,790
__
19,754
4,136
6,763
Including movement by rail to Canada.
The foregoing shows the week's net overland movement hag
been 7,790 bales, against 4,136 bales for the week last year,
and that for the season to date the aggregate net overland
exhibits an increase over a year ago of 12,991 bales.
.
-1913In Sight and Spinners'
Receipts at ports to Sdpt. 26
367,522
Net overland to Sept. 26
7,790
South'n consumption to Sept. 26- 60,000
Total marketed
Interior stocks in
-1912Since
Week.
.-435,312
31,134
excess—
..
Total in
Since
Week.
Sept. 1.
1,014,980
19,754
230.000
373,946
4,136
56,000
Sept. 1.
932,916
6,763
216,000
1,264,734
109,265
434,082
44,264
1,155,679
131,847
Came into sight during week- -466,446
478,346
1,373,999
sight Sept. 26
52,999
1,287,526
32,961
137,467
89,503"
Movement into sight in previous years.
Bales.
Week—
Total visible supply..
Middling Upland/Liverpool
terpool
6,165
6,037
6,022
North*n spinn's takings to Sept.26
Total American
23,027
15,646
864
Takings.
Total American
900
2,269
2,103
.
27.
3,933
8,658
6,500
'
—
Sept.
1,300
250
Houston
2,000
Total visible supply—;—2,540,051 2 ,673,485 2,272,554
1,890,305
Of the above, totals of American and other descriptions are as follows:
American—
\
Manchester stock
1,203
7,389
Stocks
Week.
8,390
Honey Grove.
155,000
690,000
85,000
473,722
33,000
_
538
Dallas
.9,000
4,000
4,000
207,000
Bremen..
Stock at Havre.
Stock at Marseilles
309,000
14,000
49,000
' 49,000
2,000
15,000
7,000
12,000
.*
654
Clarksvllle
1912.
Stock at London
767
9,301
2,417
10,955
Ship¬
ments.
Season.
Brenham
Tex.,
1913..
Stock at Liverpool-,.
.
Receipts.
Week.
____
Nashville
to-night, as made
by cable and telegraph, is as follows.
Foreign stocks,
as well as the afloat,
are this week's returns, and conse¬
quently all foreign figures are brought down to Thursday
evening.
But to make the total the complete figures for
to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
up
Stock
Yazoo
.33-.40 13.30-.50 13.41-.fr313.41-.41 13.50 — 13.61-.77 13.30-.77
.38-.40 13.30-.32 13.50-.52l3.45-.46 13.49-.50
—
_.
Range
13.59
13,47- .49 13.76-.78
July—
Range
—
—
,
483
1,394
4,519
-
1,952
2,947
4,941
1,340
1,803
1,600
:
Meridian
26.
30,212
24,272
1,348
4,609
9,608
6,815
-
Ark., Helena..
13.76-.77j
13.19-.36 13.15-.40 13.27-.40
Range
10,534
Sept.
5,591
......
Movement to September 27 1912.
Stocks
Week.
Season.
1,275
Montgomery
13.56-.8l'l3.24-.81
Ship¬
ments.
...
Feb.—
Receipts.
Week.
Closing..
'
Towns.
13.32-.34 13.21-.23 13.37-.39 13.37-.39 13.48-.50 13 78-.80
Dec.—
-
Movement to September 26 1913.
13.69-.9l'l3.26-.91
13.34-.47 13.26—.55; 13.39-.49 13.39-.60 13.45-.58
13.38-.40 13.31-.32 13.47-.48 13.47-.49 13.58-.59 13.88-.89
_.
xcvii.
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 of the* previous year—is set out in
follows:
as
[Vol.;
1911—Sept.
1910—Sept.
1909—Oct.
1
—
Since Sept. 1-r1911—Sept. 29—
1910—Sept. 30
-..537,151
484,323
493,764
29
30
-
1909—Oct.
Bales.
1,477,461
1,181,451
1,499,720-
1
12Md.
10.75d
7%d.
7d.
Continental imports for past week have been 142,000 bales.
above figures for 1913 show a gain over last week
OPTION MARKET.—The highest,
quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
NEW
ORLEANS
lowest and closing
The
of 203,581
a
of
over
bales,
267,497 bales
1910.
QUOTATIONS
OTHER
FO *
MIDDLING
MARKETS.—Below
COTTON
AT
the
closing quotations
of middling cotton at Southern and other principal cotton
markets for each day of the week.
are
Closing Qoutalions for Middling Cotton
on—
Week ending
Sept. 26.
Galveston
Satday.
Monday.
Tuesday. Wed'day. Thursd'y.
Friday
13 9-16
13 9-16
13%
13%
14
New Orleans...
Mobile
13 5-16
13 7-16
13 9-16
13 5-16
13J*
13%
13 X
13%
13%
13%
13%
13%
13%
13%
13%
13}*
13%
Savannah
13%
13%
ISM
13%
13%
13 9-16
13%
13 9-16
13 11-16
13%
13^
13%
13.85
13.80
13.85
14.00
13%
14.35
.....
.....
Charleston
Wilmington
Norfolk
Baltimore
Philadelphia
...
Augusta
St.
Louis
13 5-16
13 5-16
13 %
Memphis...
...
13}?
Little Rock
12 %
\13%
13 7-16
\13%
13%
13%
13%
13%
13
13
13 X
13%
Houston _i
^
Sat'day,
loss of 133,434 bales from 1912, an excess
1911 and a gain of 649,746 bales over
'
13"
13 £
13
13H-7-16
1334
13%
13H
13%
13 1-16
13 1-16
IIS
Sept.
September—
Range
Closing
@
13.30
Monday. Tuesday. Wed'day. Thursd'y, Friday.
22. Sept. 23 .Sept. 24 .Sept. 25 .Sept 26
20. Sept.
-
13.46
—
—
13.27
—
—
13.41 —
13.39-.41 13.43
—
13.45
—
—
@
13.75
•—
—
October—
13.24-.38 13.20-.50 13.33-.45 13.40-.55 13.38-.57 13.59-.83
13.33-.34 13.30-.31 13.43-.44 13.47-.48 13.56-.57 13.83-.84
Range
Closing
November—
—
Range.
Closing
@
—
■
@
—
—
@
—
—
®
—
St-.i
13.34-.37 13.32-.34 13.44-.46 13.48-.50 13.59-.61 13.83-.85>
December—
13.29-.46 13.24-.56 13.38-.51 13.38-.58 13.42-.63 13.66-.89
13.39-.40 13.35-.36 13.48-.49 13.50-.51 13.62-.63 13.84r.85
Range
Closing
January—
Range
Closing
February—
Range
Closing
13.34~.49 13.29-.61 13.41-.55 13.42-.60 13.46-.67 13.69-.93
13.43-.44 13.38-.39 13.52-.53 13.54-.55 13.66-.67 13.88-.8p-
@ —
@ —
@ —
13.58 —
13.43-.45 13.38-.40 13.52-.54 13.54-.56 13.68-.70
—
—
—
13.9*1-.94
March—
Range
Closing
May—
Range
Closing—-
13.46-.60 13.41-.70 13.53-.66 13.58-.70 13.57-.77 13.81-.0a
13.53-.54 13.49
13.62~.63 13.65-.66 13.76-.77 13.99-.Q0
—
13.53-.61 13.48-.78 13.62-.74 13.63-.76 13.65-.84 13.88-.09
13.61-.62 13.56-.58 13.70-.71 13.73-.74 13.84-.85 14:04-.05
Tone—
Spot.. —
Options—
.
Firm.
Firm.
Steady.
Steady.
Firm.
Steady.
Firm.
Steady.
Steady,
t
.
Firm.
Steady, i
B'ly S'dy
Skpt.27 1913.J
CHRONICLE
THE
WEATHER REPORTS BY TELEGRAPH.—Advices to
us
by telegraph from the South,this evening indicate that,
while in
rather
some
districts of the Southwest the rainfall has been
heavy during the week, the weather elsewhere has
been
quite favorable on the whole.
As a result of the more
satisfactory conditions, picking has made good progress
and the crop is moving freely.
Galveston, Tex.—Recent rains in Texas have proven dam¬
aging to cotton, both as to grade and quantity.
Moving
and picking have been retarded.
There has been rain on
two days.during the week, the precipitation being four inches
and thirty-One hundredths.
The thermometer has averaged
74, the highest being 85 and the lowest 62.
Abilene, Tex.—Rain has fallen on two days the past week,
the rainfall reaching two inches and ninety-eight hundredths.
Lowest thermometer 48.
.
Brenham, Tex,-—We have had rain on two days during
the week, the rainfall being one inch and seventy-four hun¬
dredths.
The thermometer has ranged from 54 to 88, av¬
eraging 71.
Cuero, Tex.—Rain on two days of the week, to the extent
of five inches and sixty-six hundredths.
Average ther¬
mometer 69, highest 90, lowest .48.
Dallas, Tex.—There has been rain on two days during the
week, the precipitation being two inches and fourteeen hun¬
dredths.
The thermometer has averaged 69, the highest
being 88 and" the lowest 50. *
Henrietta, Tex.—There has been rain on two days during
the week, the rainfall reaching two inches and ninety hun¬
dredths.
The thermometer has averaged 72, ranging from
895
Wicksburg, Miss.—There has been no rain during the week.
thermometer has averaged 68, the highest being 84
The
and the lowest 50.
Mobile, Ala.—Good weather and picking has been resumed.
are
complaints of deterioration, but they are not
general.
There has been rain on one day of the week, the
rainfall being twenty-two hundredths of an inch.
The
thermometer has averaged 71, ranging from 53 to 87.
Montgomery, Ala.—It has rained on one day of the week,
the precipitation reaching sixty-two hundredths of an inch.
The thermometer has ranged from 47 to 84,
averaging 66. .*'■
Selma, Ala.—There has been rain on two days of the week,
the rainfall reaching two hundredths of an inch.
Average
thermometer 64, highest 80, lowest 48.
Augusta, Ga.—There has been rain on two days during the
week, the rainfall reaching sixty-nine hundredths of an inch.
The thermometer has averaged 66, the highest
being 84
There
and the lowest 47.
Savannah, Ga.—There has been rain on two days of the
week, the rainfall being nine hundredths of an inch.
The
thermometer has averaged 69, ranging from 52 to 84.
f
y
Washington, Ga.—There has been rain on one day during
the week, the rainfall being forty hundredths of an inch.
The thermometer has ranged from 43 to 82, averaging 63.
Charleston, S. C.—-It has rained on two days of the week,
the rainfall being seventy hundredths of'an inch.
Average
thermometer 68, highest 83, lowest 53.
*
Greenville, S. C.—There has been rain on one day during
the week, the rainfall reaching fifty-four hundredths of an
inch.
The thermometer has averaged 60, the highest being
„
_
81 and the lowest 40.
48 to 96.
Spartanburg, S.C—Rain has fallen on three days the past
Huntsville, Tex.—It has rained on one day of the week, week, the rainfall reaching nihty-eight hundredths of an inch.
precipitation reaching seventy-two hundredths of an Thermometer has averaged 61, ranging from 41 to 82.
inch.
The thermometer has ranged from 42 to 86, aver¬
Gainesville, Fla.-—We have had rain on three days during
aging 64.
the week, the rainfall being eighty-seven hundredths of an
Kerrville, Tex.—Rain has fallen on one day of the* week. inch.
The thermometer has ranged from 50 to 86, averag¬
The rainfall reached ten hundredths of an inch .Average
ing 68.
thermometer 64, highest 88, lowest 40.
Madison, Fla.—Rain on two days of the week, to the
Lampasas, Tex.—There has been rain on two days during extent of sixty-six hundredths of an inch.
Average therthe week, the precipitation reaching one inch and twentymometer 69, highest 81, lowest 52.
eight hundredths.
The thermometer has averaged 64, the
Tallahassee, Fla.—There has been rain on two days during
highest being 84 and the lowest 44.
the week, the precipitation being, one inch and eighteen
Longview, Tex.—Rain has fallen on two days of the week, hundredths. The thermometer has averaged 67, the highest
the rainfall reaching one inch and fifty hundredths.
The being 84 and the lowest 49.
'
thermometer has averaged 69, ranging from 50 to 88.
Dyersburg, Tenn.—There has been rain on one day during
tubing, Tex.—It has rained on three days of the week, the the week, the rainfall reaching thirty-five hundredths of an
precipitation reaching one inch and eight hundredths. The inch. - The thermometer has averaged 64, ranging from
thermometer has ranged from 58 to 90, averaging 74.
■43 to 84.
;
\
Nacogdoches, Tex.—There has been rain on two days dur¬
Milan, Tenn.—There has been rain on one day during the
ing the week, the precipitation being tfao inches and twenty week, to the extent of five hundredths of an inch,. The
hundredths.
Average thermometer 66, highest 86, and low¬ thermometer has ranged from 44 to 81, averaging 62.
est 46.
v
Memphis, Tenn.—Favorable weather for picking, which is
Palestine, Tex.—There has been rain on two days the past
making good progress.
Rain has fallen on one day of the
week.
The rainfall reached forty-two hundredths of an
week.
The rainfall reached nineteen hundredths of an inch.
inch.
The thermometer has averaged 69, the highest being
Average thermometer 66, highest 81, lowest 47.
the
t
,
88 and the lowest 50.
I Paris,
;
•
.
.
.
■
.
Charlotte, N. C.—There has been rain
.
Tex.—There has been rain
on
three days of the past
week, the rainfall reaching eighty-two hundredths of an inch.
The thermometer has averaged 67, ranging from 46 to 88.
;San .4ntonio, Tex.—It has rained
with rainfall to the extent of
dredths.
The
thermometer
one
has
on
three days of the week,
inch and fifty-five hun¬
ranged
from
52
88,
to
averaging 70.
■
Taylor, Tex.—It has rained oh three days of the week to
.
#
the extent of
one
.
inch and ten hundredths.
mometer 52.
Minimum ther¬
*
W eatherford, Tex.—There has been rain on two days of the
week, the" precipitation reaching one inch and twenty-eight
hundredths.
The thermometer has averaged 68, the high¬
est being 90 and the lowest 48.
Ardmore, Ohio.—-We have had rain on two days the past
week, the rainfall being one inch and seventy-two hun¬
dredths.
The thermometer has averaged 68, ranging from
Lumberton, N. C,—Rain has fallen on three days of the
week, the rainfall reaching two inches and forty-six hun¬
dredths.
The thermometer has averaged 64, ranging from
44 to 85.
Raleigh, N. C.—We have had rain on two days the past
week, the rainfall being sixty-eight hundredths of an inch.
The thermometer has ranged from 46 to 80, averaging 63.
AMOUNT
IN
SIGHT.—Supplementary to our Annual
and in response to various requests,
give below a table showing the, amount of cotton which
came into sight during each month
of the cotton season
1912-13.
For purposes of comparison, similar results for
Cotton Crop Report,
we
Months.
.
the lowest 48.
New
Orleans, La.—There has been no rain the past week,
The thermometer has averaged 73, ranging from 59 to 87.
Shreveport, La.—There has been rain on two days during
the week, to the extent of eighty-eight hundredths of an inch.
The thermometer has ranged from 49 to 88, averaging 68.
Eldorado, Ark-—There has been rain on one day during
the week, the rainfall reaching four inches.
Average ther¬
mometer 65, highest 86, lowest 44.
Helena, Ark.—There has been no rain during the week.
The thermometer has averaged 63, the highest being 80
and the lowest 46.
Little Rock, Ark.—There has been rain on two days of the
week, the rainfall being ninety-nine hundredths of an inch.
The thermometer has averaged 64, ranging from 46 to 82.
Columbus, Miss.-—'We have had no rain the past week.
The thermometer has ranged from 44 to 85, averaging 64.
Meridan, Miss.-—There has been rain on one day during
the week, the rainfall reaching one-hundredth of an inch.
Average thermometer 64, highest 82, lowest 46.
,
Ir"
■
1
*
-vSl
1912-13.
1
bales.
October..
November
December
January
February-—
_
a .;
March-.
„
i-
June
a
Additions
ua;
1909-10.
1.181,451
2,390,210
2,451,159
2,185,301
1,179,175
762,427
458,285
330,631
1,427,506
2,485,095
1.923,771
1,333,084
866,870
534,429
509,011
2,690,696
2,416,813
1,731,783
1,493,311
1,069,705
718,977
429,907
323,174
259,718
505,778
112.971
~343,548
231,379
201,992
445,357
428,583
'
457,115
340.976
249,431
235,320
278,643
9,710
14,128,902 16,043,316 12,132,332 10,650.961
Total crop
**<44
1910-11.
1,596,680
2,693,803
•
April
May-—-.
July
August
1911-12.
1,492,261
2,366,673
2,862,719
2,094,454
1,111,009
746,628
651:229
585.848
447,027
305,853
301,338
552,724
111,134
1
September
...
.
three days during"
80 and the lowest 46.
47 to 90.
Marlow, OJcla.—lt has rained on one day of the week, the
rainfall being two inches.
Average thermometer 68, highest
93, lowest 43.
Alexandria, La.—There has been rain on one day of the
week, the precipitation reaching ten hundredths of an inch.
The thermometer has averaged 66, the highest being 85, and
on
the week, the precipitation being forty-four hundredths of an
The thermometer has averaged 63, the highest being
inch.
i.
j
li
-
at the close of the season, as well as the excess
shown by the actual results.
This total is
as
interior town stocks,
in Southern consumption,
increased or decreased by
k Deductions.
EGYPTIAN COTTON CROP.—The report of the Alex¬
andria General Produce Association for August is as follows:
Lower Egypt.—Thanks to the favorable weather during the month of
August, the cotton plants have developed well and regained the lateness
previously reported.
Some cases of boll-worms have been reported in
various localities, but one can only judge later on of the damage done, but
at present it does not seem to be very important.
Some light fogs have
been reported, but apparently not enough to influence the crops.
Irriga¬
tion has been carried out with great difficulty in certain localities, especially
in .those situated at the end of canals, where the crops have suffered from
the shortage of water.
The. first picking will take place in the early
during the first fortnight of September—that is to say, at about the same
period as last year.
Upper Egypt and Fayoum.—The temperature has been favorable.
Water
and the plants have suffered.
for irrigation has-been rather insufficient
The first picking has already begun.
•
.
896
CHRONICLE
THE
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Season.
1913.
Total bales.
200
-
To Belfast—Sept. 20—Howth Head, 350---To Havre—Sept. 23—Californie, 1,277
Season.
Week.
9,213
9,663
Liverpool—Sept. 22—Sculptor, 9,663
London—Sept. 25—Armenian, 200-
To
1912.
Season.
xcvii.
texas city—To
Liverpool—Sept. 23—Orator, 9,213
new orleans—To
Week and
Week.
[Vol.
350
1,277
To
Visible supply Sept. 19-—
2,336,470
Visible supply Sept. 1
American in sight to Sept. 26466,446
Bombay receipts to Sept. 25
17,000
Other India ship'ts to Sept. 25-_
6,000
Alexandria receipts to Sept. 2428,000
Other supply to Sept. 24
8,000
2,419,647
1199322-
Total supply
Of which other——
*
321,865
230,865
91,000
-
21,000
26,000
31,000
25,000
3,526,011
2,540,051 2.673,485
2,540,051
Total takings to Sept. 26 a
Of which American
1,287,526
4,000
6,000
17,000
10,000
3,570,350 2,934,993
2,861,916
—
478",346
2,673,485
261,508
852,526
732,526
120,000
1,373,999
42,000
25,000
52,000
22,000
—
Deduct—
Visible supply Sept. 26
2,135",485
2,055",351
1,030,299
756,299
274,000
223,508
38,000
200
12,142
5,148
9,000
9,487
ii
-
Manchester—Sept, 23—Pontiac, 5,148
ii-iii" iii i
Havre—Sept. 24—Mora, 9,000
"
Bremen—Sept. 20—Knight Companion, 9,487
—ii—iTo Rotterdam—Sept. 20—Knight Companion, 50
brunswick—To Bremen—Sept. 20—City of Delhi, 4,650
charleston—To Liverpool—Sept. 22—Californian, 9,878—t.
To
Bremen—Sept. 19—Rio Blanco, 9,500wilmington—To Liverpool—Sept. 23—Heathmore, 9,054
norfolk—To Rotterdam—Sept. 17—Soestlijk, 17
boston—To Liverpool—Sept. 19—Bohemian,
400.-.Sept. 22—
Arabic,' 1,565
To Genoa—Sept. 19—Canopic, 900
To Yarmouth—Sept. 17—Calvin Austin, 50
*
baltimore—To Bremen—Sept. 24—Konig Albert, 1.050—philadelphia—To Genoa—Sept. 22—Stampalia, 100
To Antwerp—Sept. 24—Menominee, 50.
i—
san francisco—To
Japan—Sept. 20—Nile, 1,629,
port townsend—To Japan—Sept. 23—Shidzuoka Mam, 1,550
To
„
_
50
4,650
9,878
9,500
9,054
17
■
*
INDIA COTTON MOVEMENT FROM ALL PORTS.
1913.
1911.
1912.
Since
Week.
Bombay
Week.
Sept. 1.
17,000
...
Since
Since
42,000
Week.
Sept. 1.
4,000
Sept. 1.
15,000
4,000
21,000
Great
Conti-
Japan
Britain,
nent.
dkCMna
Great
Conti-
Britain.
Total.
nent.
Japan
Total.
China.
&
Sept. 5. Sept. 12.
46,000
45,000
Sales of the week
Of which
speculators took..
4,000
1,000
29,000
1913—
11,000
1,666
—
14,000
63,000
25,000
4,000
3,000
84,000
22,000
10,000
31,000
20,000
5,000
2,000
..
"5",000
Calcutta—
1913—.
4,000
4,000
1912—_
2,000
2,000
1911...
2,000
2,000
4,000
1,000
2,000
1,000
2,000
1,000
-
1,000
16,000
15,000
1,000
4,000
1,000
Of which American
1912....
1,000
9,000
10,000
8,000
i
1911
8,006'
20,000
56.000
178,000
133,000
220,000
187,000
The tone of the
Liverpool market for spots and futures
day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
17,000
1,000
76,000
46,000
33,000
.
Saturday.
Monday.
Tuesday.
Wednesday.
Fair
Fair
Fair
business
business
business
doing.
32,000
12:15
P.
Dull.
•
M.
doing.
doing.
Thursday.
109,000
48,000
"5",000
Quiet.
Quiet.
7.72
■"iV 7,81
7.81
7.95
7.89
7.85
7,000
Sales
8,000
1,000
10,000
10,000
8,000
7,000
3,500
Spec.&exp.
1,000
600
1,000
Very ste'dy
f 4% @5%
Strong
Quiet
5%@8%
5@5% pts.
\
pts. adv.
Market
Quiet unch.
300
pt.
Quiet
3@4 pts.
decllnei
advance.
advance.
Unsettled
to 1
"
opened
Market,
1911.
wek
Sept.
Steady
7% @9, pts.
decline.
Very ste'dy
Irregular
unch. to 2
10@ 12%
advance.
pts. adv.
pts. adv.
Strong
9@11
pts.
Feverish
Irregular
1@6 pts.
2% pts.dec.
8@10%
decline.
to%pt.adv
pts. adv.
The
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinaty
clause, unless otherwise stated.
>
Receipts (cantars)—
Since
|
pts. adv.
f
P.M.
1912.
Sept. 24.
This
Friday.
39,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
1913.
•
25,000
Futures.
Alexandria, Egypt,
274,000
78,000
63.000
each
Mld.Upl'ds
1,000
2,000
1,000
31,000
42,000
17,000
121,000
81,000
7,000
116,000
74,000
46,000
2,000
1,000
24,000
2,000
80,000
449,000
11,000
1,000
27,000
2,000
63,000
451,000
281,000
319,000
16.000
-----
Amount afloat
Total all—
....
1.000
—
——525,000
354,000
-
which American
23,000
15,000
23,000
25,000
6,000
8,000
2,000
1,000
1
210,000
389,823
—
115,000
223,755
55,000
114,056
below.
,
This
Since
Week. Sept.
Exports (bales)—
This
Since
Week. Sept.
1.
This
Since
Week. Sept.
1.
The
prices
are
6,000
Liverpool.
10,750
3,250
12,955
2~,6O5
200
800
600
9,700
27,755
4,600
16,048
3",500
To Continent and India.
To America
2,000
3,500
1,000
10,048
1,500
To Manchester
-
„
600
5,226.
3,250
9,881
1,100
5,600
19,459
2,750
2",250
given in
Sat.
exports
-i—
Egyptian bales weigh about 750 lbs.
MARKET.—Our
MANCHESTER
report received by
cable to-night from Manchester states that the market is
firm
both
for
yarns
and shirtings.
Merchants are not
present prices.
We give the prices for to-day
below and leave those for previous weeks of this and last
willing to
year
pay
for comparison.
;
1913.
Thus, 7 37
7 37-1ood.
means
Mon.
Tues.
Wed.
Thurs.
Fri.
to
12%
12 %
12%
p.m.
Sept. 26.
p.m.
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.
Total
Note.—A cantar is 99 lbs.
pence and 100ths.
1.
Sept. 20
To
Sept—Sop .-Oct
—
-
Oct.-Nov.
Nov.-Dec.
Dec.-Jan_
Jan.-FebFeb.-Mar.
Mar.-Apr.
Apr.-May
May-June
June-July
July-Aug.
Aug.-Sep-
4
d.
d.
12%,
j
d.
48
37% 47
46%
25% 35% 35% 33
16%
08%
08%
08%
08%
08%
08%
08%
06%
04%
90%
27
28
.
18%
18%
18%
18%
18%
18%
ish
19%
19%
19%
19%
26
4
12%
d.
61*
4
d.
49
44% 34
36
if*
12%
d.
4
d.
20
20.
118%
25% 16
21
18
16%
16% 15
03
02%
23% 14
19
21
12
17
if
06
97% 02
98
20
15
02
28%
4
d.
55
46% 53
41
40% 32
31% 25
33%
17%
17%
17%
18
18%
418%
27
12%
23
17
1*
22% 16%
22% 16% 25
26% 16% 22
16% 24%
26
16
21% 16% 24%
22
24
16
25% 16
27
17
24
16
22
20
*
05
1912.
BREADSTUFFS.
8 H lbs. Shirt¬
32« Cop
Cot'n
8% lbs. Shirt¬
Cot'n
ings, common
Mid.
32a Cop
ings, common
Mid.
Uvl'S
Twist.
to finest.
Uvl'S
Twist.
to
s.
d
finest.
d
a.
d.
d.
8.
d.
a.
8
fa
29
0
3
6.43
0%
10%
10H
0
3
6.40
9%
10%
4
5
6.62 9%
@
lv*
10%
@
@
W
15
3
@11 9
11%
4
11%
@11 10
11% 6 4% @11 10%
@11 11%
11% 6 5
@11
fell
0%fell
1
@11
d.
10% 6
4
@11
4
10% 6
10% 6
3
fell
4
3
@11
4
6.60
10% 6
2
@11
1
6.40
@
@
7.00,9%
6.96
6 72
Sept
10%
@
12,, 10%
®
19
10 h
@
26
10%
@
6
7.35 9%
@
7.39 9%
@
10% 6
10% 6
7.57 10
@
11
6.75
3
6.79
10% 6
7.85 9 13-16@
SHIPPING NEWS.—Shipments in
2
@11 1
2%@11 2
6
2
@113
@11 2
-
To Manchester—Sept. 23—Thespis, 2,446
To Hull—Sept. 19— Othello, 300
-
300
1,500
1,150
1,208
Antwerp—Sept. 19—Kroonland, 1,208
To Libau—Sept. 20—Russia, 2,250
To Barcelona—Sept. 24—Colomba, 300
To Genoa—Sept. 19—Berlin, 2,117
*
To Naples—Sept. 19—Berlin, 500
To Trieste—Sept. 23—Belvedere, 1
To Piraeus—Sept. 25—Themistocles,
2,250
300
2,117
500
1
300—-
300
•alveston—To Liverpool—Sept. 20— Pancras, 11,000—Sept.
23—La Blanca, 13,760—Sept. 25—Asian, 10,530—
.
To Manchester—Sept. 20—Gloria de Larrinaga, 12,671
To Bremen—Sept. 22—Breslau, 9,344; Iowa, 21,968,
20—Frankenwald,
I* Southgate, 1,546...
To Antwerp—Sept. 24—Reliance,
To
To
¥0 Trieste—Sept. 20—Marianne, 950
Mexico—Sept. 22—Alabama, 100----
35,290
12,671
31,312
1,474---Sept.
4,037—
Barcelona—Sept. 20—Marianne, 5,895
Venice—Sept. 20—Marianne, 300
o
8,368
2,446
—
To Havre—Sept. 20—Rochambeau, 1,500
To Bremen—Sept. 24—Friedrich, 1,150
To Hamburg—Sept.
6.59
Total bales.
—
To
6.62
detail:
•
new york—To Liverpool—Sept. 19—Caronia, 4,256—Sept. 24
—Cedric, 4,112
24—
3,020
4,037
6,895
300
;
-i
:
-
Friday Night, Sept. 26 1913.
Flour has met with
100
950
The
a
fair demand at firmer prices in
Southwestern
some
quotations have been compara¬
tively steady.
Many buyers are still holding aloof, believing
that, ultimately, prices must reach a much lower level.
The
big movement of wheat at the Northwest!, they think,
encourages this idea.
Spring patents are said to have sold
to a fair extent at $4 50@$4 60 in jute, and it is hinted that
even these prices have been shaded.
The production last
week at Minneapolis, Duluth and Milwaukee was 476,380
barrels, against 423,620 barrels in the previous week and
459,275 barrels in the same week last year.
Of late the
decline in wheat has caused a good many buyers to hold aloof
in the expectation of lower prices for flour.
Wheat has declined under the weight of very large re¬
ceipts.
The arrivals at the Northwestern points have been
enormous.
Those at Winnipeg have been even larger than
the movement to American markets.
The world's ship¬
ments, moreover, have also increased.
The total last week
was 13,792,000 bushels, against 13,328,000 in the
previous
week.
It is true that for the same week last year the total
was
14,688,000 bushels.
But the fact that the shipments
are
increasing, and that those from Russia are especially
large, has been the feature on which emphasis has been
laid.
Russia shipped last week 6,440,000 bushels, against
5,760,000 in the previous week and only 4,512,000 in the same
week last year.
The world's supply of wheat, moreover, in¬
creased last week 12,986,000 bushels, against an increase
in the same time last year of about half this quantity.
eases.
Aug.
22
I
Sept. 26.
48,000
27,000
1,000
70,000
496,000
63,000
»
Total imports of the week
Of which American
Market,
3,000
6,000
8,000
—
...
:
Sept. 19.
2,000
All others—
1911
;
50
1,629
1,550
4,000
Madras—
1913
-
Total stock—Estimated
Of
Bombay—
100
j,—219,717
Actual export
Forwarded
Exports
from—
50
1,050
LIVERPOOL.—Sales, stocks, &cf, for past week:
Sales, American
Since September 1.
900
-
Of which exporters took-.-.j
For the Week.
1,965
,
Total
Sept. 20,
Receipts at—
1
...
To
230,000 bales in 1913 and 216,000 bales in 1912—takings not being available
—and the aggregate amounts taken by Northern and foreign spinners,
800,299 bales in 1913 and 636,526 bales in 1912, of which 526.299 bales and
516,526 bales American.
1911
Californian, 6,200
170
951
1,879
2,229
3,350
To
Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
This total embraces the total estimated consumption by Southern mills,
a
Rotterdam—Sept. 23—Maartensdijk, 170
To Antwerp—Sept. 22—Ferngrath, 951
To Barcelona—Sept. 22—Miguel m.
Pinillos, 1,879.
To Genoa—Sept. 24—Mongibelio, 2,229
mobile—To Liverpool—Sept.
20—Dromore, 3,350
pensacola—To Genoa—Sept. 20—ii
Piemonte, 200
savannah—To Liverpool—Sept.
23—Pontiac, 5,942-..Sept. 25
Sept. 27
1913.]
THE
CHRONICLE
Liquidation has been heavy. The Northwest has been sell¬
ing freely in Chicago.
The cash trade has been comparative¬
ly small.
The absence of any aggressive export demand,
together with the big receipts, has been a distinctly depressing
factor.
Much of the time the only buying has been by
shorts.
The contract stock at Chicago, despite a decrease
of nearly half a million bushels there, is still 5,556,000 bushels,
against 1,781,000 a year ago.
The quality of the springwheat is described as very fine.
The crop in Canada is
about 10,000,000 bushels larger than that of last year and
is said to be of unusually fine quality, -c
It is also said
that
the quality of most of the. - European wheat this
is
season
much
than
better
that
of
last
season.
„
The
in Italy,
Roumania,
Bulgaria and Russia are
larger than those of 1912.
The tariff question may prove
crops
to
be
factor later
a
Wheat is
on.1
American
tariff, but there is a countervailing duty of 10 cents
bushel against countries which do not admit American
wheat free.
If Canada should remove its duty on wheat,
Canadian wheat would, naturally, enter the United States
a
free.
On the jother hand, the quality of Germany's crop
injured by bad weather at the harvest.
The French
crop is short. ' The latest advices from France are that the
crop outlook does not improve.
Its yield this year is placed
at 304,000,000 bushels, which is 40,000,000 bushels under
the normal consumption.
This is taken to mean that
France will have to import freely the present season—some¬
thing which may yet turn out to be an important factor in
the market.
To-day prices were firmer on higher cables and
less favorable crop news from Russia.
was
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
Wed. Thurs.
Fri.
No 2 red.
-_cts.
98
September delivery in elevator..96%
December delivery in elevator
97 %
ivery
May delivery in elevator
—101 ^
_
DAILY
CLOSIN
PRICES
OF
97%
95
96 %
100%
Sat.
Mon.
September delivery in elevator. _cts 87%
December delivery in elevator.
89%
May delivery in elevator.94%
87%
88%
93%
___
Indian
•
corn
97%
94%
95 %
98%
t,
FUTURES
WHEAT
96%
93%
95%
98%
IN
96%
93
95;
98%
CHICAGO.
Tues. Wed. Tliurs.
85%
87%
92%
96
94
95 %
98%
85%
87%
92%
84%
87
91%
Fri.
84%
87%
92%
has declined, though the crop is much below
the 10-year average and
than that of last year.
is nearly 800,000,000 bushels smaller
In addition, there is a shortage.in
the hay crop approximating 10,000,000 tons, to say nothing
of the falling off in the crops of oats and barley.
During
August, the severe drought at the West greatly injured pastuage and fodder conditions.
This seems to point to an
increased feeding of grain,, notably,corn, though September
weather had been more favorable for forage and fodder.
A certain sympathy with the decline in wheat has been ap¬
parent.
The contract stock at Chicago increased last week
637,000 bushels. VIt is now 700,000 bushels, against only
29,000 a year ago.
The buying for the most part has been
by shorts.
According to the last Government report, there
was no damage done by frost.
It looks as though some of
the adverse crop reports were exaggerations.
On the other
hand, despite the admitted decrease in the crop, prices are
still well under those of a year ago.
Some indications point
to smaller receipts.
To-day prices declined on heavy liquida¬
tion.
•
V'>.;
'
%
Sat.
corn.
DAILY
.....nom.
CLOSING
PRICES
Mon.
Tues.
nom.
nom.
OF CORN FUTURES
Sat.
Mon.
Tues.
Wed. Thurs.
nom.
IN
nom.
Corn,
$0 94%
92%
nom.
CHICAGO.
Wed. Thurs. Fri.
DAILY CLOSING
PRICES
Sat.
Standards
OF
Mon.
DAILY CLOSING PRICES
Wed.
OF OATS
Sat.
September delivery in elevator_cts. 41%
43%
46%
December delivery in elevator
May delivery in elevator
following
are
Winter, low grades
Winter patents.Winter straights,
Winter clears
IN1NEW
Tues.
issued by the
Sept. 22 is
,v,
Spring patents
Spring straights
41%
43%
46%
40%
42%
46
40%
42%
45%
40%
41%
45%
40%
41%
45%
closing quotations:
FLOUR.
$3 10@$3 50 Spring clears
$4
4 80 @ 5 00 Kansas straights, sacks, 4
4 10@ 4 25 Kansas clears, sacks,3
3 80(5) 4 15 City patents
5
4 40@ 4 60 Rye flour_
3
4 15 @ 4 40 Graham flour
3
25
90
60
.
71@77
Cool, cloudy weather, with considerable rain during the early part, and
over the northern districts at both the
beginning and ending were the
marked features of the weather of the week from the
frost
Rocky Mountains
eastward, while to the westward the abnormal heat along the California
coast from San Francisco southward
was mOst unusual.
j
Over the corn-growing States both east and west of the
Mississippi the
was cool and much cloudy and wet weather
prevailed.
Some frost
week
occurred, but little damage resulted,
as corn had mostly matured
The
have very generally broken the severe drought
condition for plowing and fall seeding. •
In the spring-wheat belt It was generally cool, dry and favorable
for
threshing and transporting the crops to market.
Killing frosts were very
general but no material damage resulted, as all crops had fully matured
In the cotton region the weather was cool and
cloudy, with rain at
frequent intervals from Arkansas and Louisiana eastward to the Carolinas
It was likewise cool in Texas and Oklahoma, and
considerably cloudy
rainy weather prevailed the first half of the week, interfering with cotton
picking.
The latter part of the week was clear and picking progressed
rains of the past two weeks
and the soil is now in good
favorable conditions.
under
Over the Atlantic coast districts from Virginia northward the week was
cloudy and cool.
Good rains occurred in nearly all sections, relieving the
severe drought that had prevailed in many portions and
putting the ground
in condition for plowing and seeding.
Frost occurred over extensive areas
in the northern portions.
Over the districts to westward of the Rocky Mountains the weather was
nearly everywhere favorable for agricultural interests.
Some frost occurred
in the northern and mountain districts, but otherwise the weather
was
warm and favorable for the ripening of the late
crops, and in California the
high temperatures afforded excellent conditions for ripening and drying
fruits and vegetables.
■
»
The statements of the movement of breadstuffs to market
indicated below
prepared by us from figures collected by
Exchange.
The receipts at Western
lake and river ports for the week ending last
Saturday and
since August 1 for each of the last three years have been:
are
the New York Produce
Receipts
Flour.,
at—
\
Wheat.
Corn.
Oats.
Barley.
Rye.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.48lbs. bu.56
lbs.
Chicago
191,000
Milwaukee
869,000
285,000
4,758,000
4,444,000
63,000
_
Duluth
Minneapolis
Toledo
13~666
-
Cleveland
St.
4,292,000
10,000
86,000
__
Louis
Peoria
30,000
8,000
333,000
27,000
619,000
312,000
...
30,000
Kansas
City
Omaha.
Total wk.'13
393,000
Same wk.'12
362,698
Same wk.'ll
340,289
3,088,000
2,495,953
2,542,230
77,524,000
75,734,948
49,199,030
81,000
187,000
352,000
300,000
329,000
11,755,000
14,550,173
7,041,603
Since Aug.
96,000
94,000
149,000
233,000
6,000
"3:606
45:606
7,000
55,000
13,000
160,000
276,000
2,677,347
""V-
6,388,000
6,798,729
3,111,576
6,010,000
4,812,394
30,353,000
26,423,217
26,664,358
504,000
427,000
1,185,000
1,727,000
3,943,000
2,865,749
3,752,983
601,000
638,503
276,362
1
1913...—
1912
1911
Total
3,182,000
317,000
709,000
866,000
74,000
70,000
39,000
498,000
197,000
241,000
18,000
89,000
49,000
72,000
70,000
Detroit-
53,228,000 13,938,000 3,409,000
43,684,785; 9,973,459 3,329,294
32,526,466 13,948,901 1,794,853
receipts of flour and grain at the seaboard ports for
Sept. 20 1913 follow:
the week ended
Receipts at—
.New
Boston
__
Philadelphia
Baltimore.New
Wheat,
btish.
157,000
1,000
59,000
.
26,009
81~,666
Quebec
„bush.
~18",6o6
~
2~66o
2,000
30",000
107,066
38~,666
looo
9,000
674",000
45,000
1,000
'
Rye,'
bush.
15,000
~
~3~, 000
—...
Barley,
bush.
311,000
55,000
94,000
115,000
57,000
109,000
40,000
2,000
News-..
Montreal
Oats,
bush.
708,000
233,000
139,000
444,000
41,000
Orleans*--,.
138,666
Iff,000.
St. John
Total
Corn,
bbls.
212,000
41,000
44,000
53,000
York---—..
week
1913.
2,336,000
343,000
770,000
126,000
86,000
15,415,000 44,255,000 41,063,0001^797000 2490,000
4,005,661
415,598
3,440,742
186,609
39,273
Since Jan. 1 1912.12,345,710 90,122,915 27,311,669 42,535,984 3443,605
377,507
Since Jan. 1
Total
on
week
460,000
1913.15,852,000
1912.
414,725
♦Receipts do no include grain passing through New Orleans for foreign
through bills of lading.
'' •
ports
The exports
from the several seaboard ports for the week
ending Sept. 20 are shown in the annexed statement:
Wheat,
Flour,
Oats,
Rye,
Barley,
Exports from—
New York
bush.
bush.
bbls.
bush.
bush.
bush.
547,436
1,440
99,980
Boston
343,728
22,375
4,500
Philadelphia
New
Orleans
Newport
Corn,
16,811
4,000
94,000
139,000
121,875
31,440 270,921
61,456 155,311 1,661,181
24,884 143,000
25,000
20,262
9,000
867,000
...
16,000
3,000
40,000
"
Y,666
Quebec..
Total week
1912
The
2,856,357
.2,688,411
destination of
July 1 1913 is
as
these exports for the week and since
Wheal
Corn-
Since
Exports for week and
July 1
Since
Week
July 1
Sept. 20.
1913.
1913.
bush.
bush.
bbls.
1,153,170 1,474,464 23,267,069
629,720 1,373,493 28,791,169
7,730
242,288
253,530
670
17,654
384,414
26,192
27,602
20,666
Sept.20.
since July 1 to—
bbls.
Kingdom.-.127,416
j__„ 81,670
So. & Cent. America 19,519
West Indies
33,452
Brit. No. Am. Cols.
8,150
United
Continent
714
——
270,921 2,474,628 2,856,357 52,338,180
1,856,362 2,688,411 27,685,740
1912.. —-.-'-155,311
The
world's
shipments of wheat and
corn
Since
Week
Sept. 20.
following:
July 1
1913.
bush.
bush.
1,120
29,543
151,270
438,348
266,851
537,623
777
5,688
,31,440
61,456
1,400,401
732,544
621
for the week
are shown
ending Sept. 201913 and since July 11913 and 1912
in the
1,143
3,977
below:
Week
Total
bush.
—...
15,000
Mobile
St. John
24,884
1,000
223,000
Montreal
Week
37,630
48,000
1,500
21,000
News..
Galveston
Peas,
1,143
8,000
96,000
439,193
324,000
____
Baltimore
Total
40
30
00
72
Nominal
Barley—-Malting
Department of Agriculture for the week ending
follows:
Other Countries
10@$4
15@ 4
75@ 4
95@ 6
50@ 3
80 @ 4
80%
bushel—
as
Flour
FUTURES IN CHICAGO.
Tues.
Wed. Thurs. Fri.
per
45% @46
Fri.
Mon.
elevator Nominal
-elevator Nominal
WEATHER BULLETIN FOR THE WEEK ENDING
SEPT. 22.—The general summary of the weather bulletin
YORK
Thurs.
cts_48%-49 48-48% 47%-48 47-47% 46%-47 16%-47
49^9% 48%-49 48-48% 47%-48 47-47% 47-47%
No. 2 white
The
OATS
_
2
State and Pennsylvania
47@47%
Galveston
of American oats amounts to no less than
42,473,000 bushels, against only 13,109,000 bushels a year
ago and 32,323,000 in 1911.
The contract stock at Chicago
increased last week 138,000 bushels and is now 573 ,000 bush¬
els, against 192,000 a year ago.
Canadian oats have been
offered in our Eastern States at lower prices than the Ameri¬
can.
Latterly the selling of American oats at Chicago has
been heavy and bull speculation has undoubtedly received
a check.
Also prices are noticeably higher than those of a
year ago. It is felt by not a few that bullish conditions have,
for the time being at any rate, been discounted, although the
crop is 332,000,000 bushels smaller than that of last year.
On the other hand, the Canadian crop of oats is officially
estimated at 391,000,000 bushels, against 365,000,000 last
year.
There is at least a possibility of large inportations
of Canadian oats under the new tariff which, it is supposed,
will be in the neighborhood of 6 cents per bushel, which would
leave a profit, it is said, of something over 2 cents in buying
Canadian oats, considering the difference of two pounds
extra in the Canadian weight.
To-day prices advanced
after a reaction.
Country offerings were light.
_
No.
46% @47
Mobile
The available supply
_
No. 2, yellow,,.
Rye,
Standards
Newport
Oats have also declined, partly owing to the weakness in
other grain and partly because existing stocks are very large.
96
cts.
Flour,
Fri.
2
Steamer
_
.
bushel—
per
No.
96
No. 2, white
No. 3
'"-V
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Cash
GRAIN.
Wheat, per bushel—f. o. b.
N. Spring, No. 1
N. Spring, No. 2
Red winter, No. 2
Hard winter. No. 2 new
Oats, per bushel, new—
the free list in the
on
897
898
THE
Wheat.
Week
Sept.
Since
Bushels.
North Amer. 4,568,000
Russia
Danube
Australia
India...
Oth. countr's
The
Bushels.
68,674,000
31,876,000
4,684,000
7,564,000
8,656,000
July
July 1.
-
——
quantity of wheat and
concerned
4,039,000
7,330,000
70,784,000
-
afloat for Europe
corn
below normal.
168,000
83,031,000
1,626,000
1.
Bushels.
Bushels.
Bushels.
142,488,000 139,585,000 5,044,000
19,408,000
13792000
light so far, but buyers are keeping closely in touch with
shown, and when the tariff bill is passed are expected
to begin buying on a broad scale.
In men's wear, buying for
the next spring is very
disappointing, sales to date being far
Since
Since
|
20.'
623,000
4,644,000
4,320,000
73,444,000
1,088,000
296,000
mentioned
Week
Sept.
41,666,000
m^ooo
29,223,000
17,040,000
85,000
19,938,000 4,831,000
6,016,000
23,616,000
2,086,000
6,440,000
640,000
104,000
656,000
Total
July 1.
82,321,000
on
dates
Clothiers and cutters-up seem to be
greatly
the tariff and are
expecting considerable
over
foreign goods of the lower grades to appear in this market
following the passage of the bill.
Consequently they have
confined their purchases so far to such
goods as were needed
to take care of what business
they had already booked.
DOMESTIC COTTON GOODS—The
exports of cotton
goods from this port for the week ending Sept. 20 were
8,482 packages.
1913
follows:
was as
Wheat.
New York to Sept. 20—
Great Britain
Corn.
t
United
Kingdom.
Continent.
Total.
Kingdom.
Byshels.
Week.
—97
23
13,208,000
13,352,000
17,896,000
17,512,000
Sept. 20 1913.
Sept. 13 1913.
Sept. 21 1912.
Sept. 23 1911.
Bushels.
Total.
Continent.-
Bushels.
23,080,000
22,848,000
22,008,000
16,120,000
Bushels.
I
West
36,288,000 13,082,000 16,354,000 29,436,000
36,200,000 13,252,000 20,587,000 33,839,000
39,904,000 9,146,000 21,590,000 30,736,000
33,632,000 1,812,000 4,369,000' 6,181,000
visible
The
supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Sept. 20 1913 was as follows:
UNITED STATES GRAIN STOCKS.
Amer. Bonded
Bonded
Amer.
Wheat. Wheat.
Corn.
Oats.
bush.
bush.
bush.
454
5
16
1,308
91
New York
13
28
' 238
7
.
bush.
r—_.
..
Boston
Philadelphia
..
Baltimore.
...
Galveston.
«.
1,190
2,428
Buffalo
M
—i
Chicago..
"
..
—
—
304
St. Louis
—
Kansas City
...
..
...
On Canal and River.
985
-
-
-
—
—
228
1913..49,474
Total Sept.. 13 1913__46,505
jTotal Sept. 21 1912.^30,133
307
236
298
-J*.
8,079
302,105
48
612
9
811
1,417
137
269
303
2,204
580
524
246
436
41
....
983
1,708
31
10
'
'
I
....
I:.-.
....
....
13
20
....
76
983
6,414 31,130
5,301 28,636
2,368
8,799
•
*
Canadian Bonded
1,241
4,114
32
965
347
19
827
Bonded
Canadian
Wheat. Wheat.
Corn.
Oats.
1,864
21
bush.
bush.
bush.
Montreal
1,160
Ft.William <fe Pt.Arthur
Other Canadian
...
Total Sept. 20 1913..
Total Sept. 13 1913..
....
4,247
2
—
547
----
2
5,954
1
3,185
2,836
Total Sept. 21 1912..
Canadian
Oats.
bush.
bush.
....
bush.
bush.
74
262
—
-
961
Bonded
Rye. Barley. Barley,
bush.
1,917
2,047
4,925
5,349
1,246
74
....
106
6
262
'
....
419
'
....
46
Bonded
Bonded
Bond.
Wheat. Wheat.
Corn.
Oats,
Oats.
bush.
bush.
bush.
bush.
bush.
American
Canadian..
470
1,241
4,114
74
262
bush.
.49,474
5,954
_______
307
,
6,414 31,130
2
4,925
....
Rye. Barley. Barley,
bush.
bush.
32
....
Total Sept. 20 1913..55,428
307
6,416 36,055
470
32
236
298
5,302 33,985
2,368 10,045
458
1,315
1,071
4,376
13 1913..49,690
Sept. 21 1912-32,969
3,896
.19
62
833
1,910
21
Total Sept.
Total
THE DRY GOODS
TRADE.
New York, Friday
Night,'Sept. 26 1913.
dry
goods, markets continue active and firm, with prices steadily
working to higher levels.
In cotton goods there is a severe
shortage developing on all staple lines for spot and near-by
delivery.
Many manufacturers of staple cottons have either
completely sold their output for over the year-end or have
booked ajl the business they care to under the present un¬
certain conditions.
Buyers are losing h great deal of their
conservatism and are urgently in need of materials of all
grades for immediate and near-by requirements.
They are
finding, however, that mills have, true to their warning,
been turning out goods only against actual orders booked,
and now that the rush has come, there is a scramble for goods
at prices much higher than could have been obtained a
month or so ago.
During the past week sales have decreased
owing to the scarcity of goods at deliveries suitable to buyers;
the inquiry is good but manufacturers cannot meet the de¬
liveries wanted.
In fact, many of the bids made for goods
are not even sent forward to mills by the agents, and several
lines have been temporarily withdrawn from the market.
While the firm raw material and yarn situation is disquieting,
it is not so much responsible for the recent sharp advances
as is the pronounced
scarcity of supplies.
Spinners have
advanced their yarns to a 14-cent cotton basis, and may
make further advances in the near future, as they state they
are not well covered on raw material and are finding it diffi¬
cult to get good qualities of the staple much under 15 cents.
On the other hand, weavers and knitters have been caught
short of supplies, having failed to place much business in
advance during the past summer.
Business for export has
come to
a
complete standstill, owing to the advances in
prices,
The advances have been too rapid for foreign con¬
sumers to follow, and offers received, though based on the
market prices at the time of sending, are below the same
when received.
The opening on spring 1914 dress goods is
now complete and the
prices named show sharp reductions,
practically on a free-wool basis.
Business has been
With
*
the exception of dress goods and men's wear
'
32
417
The value of these New York exports since Jan. 1 has been
$18,974,456 in 1913, against $19,625,092 in 1912.
Domestic cotton markets, influenced by the
upward
tendency in cotton, the restrictions that surround production,
and active demand, rule firm.
The shortage in goods for
prompt delivery is becoming more pronounced on many
lines, and many buyers are in need of supplies.
Some.of
the largest producers of sheetings, Owing to the
sold-up
of
their mills and
the uncertainties surrounding
situation, have withdrawn their lines from
and
hard to obtain in
are
satisfactory quantities for
are in a firm
position with advances named on many lines and rumors
of still higher prices pending.
Demand for ginghams .is
good, the larger patterns selling particularly well, and it is
stated that mills are paying more attention to the manufac¬
prompt or near-by delivery.
Bleached cottons
ture of
these
varieties.
The backwardness of deliveries of
goods under order is still the cause of many complaints from
jobbers who have apparently oversold themselves for Octo¬
ber delivery and have not fully realized the
scarcity of goods
existing.
It is reported that there are several lines of brown
and bleached cottons
deliveries for
crease
which it will be impossible to in¬
weeks to come, notwithstanding
on
some
the fact that in many
instances additional looms have been
Print cloth prices are well maintained,
with the demand reported good.
Gray goods, 38^-inch
standard, are'quoted at 5^c.
WOOLEN GOODS—Quietness prevails in markets for
men's wear, and the fact that the very iow
prices quoted
for the spring 1914 season fail to stimulate business is the
put into operation.
SUMMARY.
In Thousands—
Total..
"840
1,095
-
....
470
458
62
565
;
.
CANADIAN GRAIN STOCKS.
In Thousands—
164
;
countries
scarce
72
1,934
281
131
America
South America
1,594
sale, and, according to reports, sheets are very much wanted
by retailers and jobbers.
Tickings and denims are becoming
92
219
2,894
62
m
.
53
Indies
the raw-material
-
''
146
69
-—
Total Sept. 20
526
....
Jan. 1.
245,493
665
803
Mexico
condition
146
1,575
30
407
-
'
286
..
1,003
96
1,983
4,007
On Lakes..
2
....
....
292
y;
351
Indianapolis
Omaha
94
128
260
—
mm
114
....
1
3
629
61
"270
1
7,507
2,715
8,766
36
19
529
Duluth
Minneapolis.
bush.
9
57
2,459 14,458
114
60
Milwaukee
Peoria
*»«*W
:
9,740
..
afloat
bush.
282
89
153
Amer. Bonded
Rye. Barley. Barley.
bush.
15
„
12
Toledo
Detroit-
4* — M
"
3
no
726
372
New Orleans.
Amer.
Oats.
bush.
Amer
In Thousands—
13
1,271
2.811
8
Other
5
869
3,373
1,501
53,705
21,636
40,185
22,112
34,198
2,271
15,984
52,127
55,013
2,572
...
Central
1,487
56,675
10,586
28,889
20,719
27,159
1,820
11,774
37,609
47,906
1,568
Arabia
Bushels.
Week.
.1,955
i
India
Africa
Bushels.
1912——
Since
Since
Jan. 1.
8,482
Other Europe
China
United
xcvii.
the lines
1912.
1913.
Since
July 1.
20.
Bushels.
Argentina-
1912.
[Vol.
very
Corn.
1913.
Exports.
CHRONICLE
of considerable comment.
In view of the uncertain¬
ties surrounding the outcome of the tariff, however, few
buy¬
ers care to commit themselves even on the best
staples.
As
cause
regards dress goods,, the demand is more active and the
volume of business booked on fine goods is said .to be much
ahead of last year.
f
FOREIGN DRY GOODS.—Demand for linens is
steadily
increasing for both near-by and spring 1914 delivery.
Some
of the mills are reported under order for the entire season.
Many buyers cannot defer buying any longer on account of
the tariff bill, and are taking more goods from warehouses.
The market for burlaps is in a very unsettled condition, with
the tendency of prices upward.
As a result of reduced esti¬
mates of the jute crop and the withdrawal of
offerings,
values have scored sharp advances.
Light-weights are nomi¬
nally quoted at 7.10c. and heavy-weights at 9c.
Importations & Warehouse Withdrawals of Dry Goods.
Imports entered for Consumption for the Week and Since Jan. 1.
Week Ending
Since Jan. 1 1913.
Sept. 20 1913.
Pkgs."
Value.
Pkgs.
Value.
Manufactures of—
."
$
Wool
*.__
736
193,677
23,791
5,872,066
Cotton
jt
726,157
2,279
100,316
28,418,101
Silk
*1,645
761,972
56,270
25,041,897
Flax
709
214,864
62,446
13,897,925
Miscellaneous
1,132
201,495
88,652
8,798,917
.
r.—
—
-
Total 1913.-.-.
Total 1912..
Warehouse
—
6,501
—.10,413
—
—
2,098,165
2,702,606
Withdrawals Thrown
Upon
331,475
381,049
the
82,028,906
87,108,293
Market.
Manufactures of—•
Wool
488
Cotton
866
Silk
338
Flax
529
870
Miscellaneous
Total
withdrawals
119,307
246,581
118,660
113,831
125,000
-
«
Entered for consumption
..
Total marketed 1913.
Total marketed 1912
6,501
723,379
2,098,165
13,573
27,163
71,143
3,348,266
7,962,717
3,387,505
4,656,462
3,846,019
142,655
23,200,969
331,475
82,028,906
8,625
22,151
9,592
14,119
2,821,544
474,130 105,229,875
3,296,775
557,961 108,115:783
Imports Entered for Warehouse During Same Period.
Manufactures of—
Wool.
808
147,799
20,476
4,782,237
Cotton
1,225
215,697
34,899
9,669,128
Silk
418
160,797
10,048
3,865,229
Flax
877
195,450
28,745
6,318,771
Miscellaneous
1,037
219,057
89,820
4,804,466
Total
4,365
6,501
938,800
2,098,165
331,475
10,866
.13,040
3,036,965
3,307,453
515,463 111,468,737
555,515 108,465,347
Entered for comsumption
Total imports 1913
Total imports 1912
.
—
.
—
183,988
29,439,831
82,028,906
Sept. 27
THE
1913.]
CHRONICLE
CITY DEPARTMENT.
STATE ANB
News
rive years next
Alpena, Mich.—Commission Form of Government Adopted.
question of establishing a commission form of govern¬
ment was approved at the election held Sept. 17 (V. 97, p.
540) by a vote of 376 to 352.
Astoria, Ore.—Bond Issue Enjoined.—Newspaper dis¬
patches state that Judge Eahin of the Circuit Court has
granted a temporary injunction restraining the sanitary and
reclamation commission of the City of Astoria from issuing
and selling $300,000 in bonds under its resolution adopted
on Aug. 20.
The suit was brought by G. C. Flavel, who
attacks the constitutionality of the charter amendment
which created the defendant commission and alleges that it
legally adopted.
never
Cleveland, Ohio.—Municipal Light Plant Bonds Upheld.
Supreme Court on Sept. 23 sustained the action
Appeals in dismissing the petition of W. B.
Drum, a taxpayer, for an injunction to restrain the issuance
of $1,000,000 municipal electric-light bonds.
The entire
issue, which was voted in November 1912, amounts to $2,000,000, of which $700,000 was purchased by the sinking
—The Ohio
of the Court of
fund.
Collinsville,
Okla.—Commission Form of Government
Approved.—Reports state that the question of establishing
a
commission
voters at
a
form
of government
was
approved by
the
recent election.
Columbus, Ga.—Election
on
Commission Form of Govern¬
question
ment.—An election will be held Nov. 4 to vote on the
charter providing for the commis¬
The bill passed by the Legislature
providing for a referendum vote on the question is printed in
full in the "Columbus Enquirer-Sun" of Aug. 21.
of
adopting
a
proposed
new
sion form of government.
Connecticut.—New Savings Bank Investment Law.—A
complete revision of the law concerning investments by sav¬
ings banks was made by the 1913 Legislature.
A digest
(Sections 2,3, 4 and 5) of this new law governing investment
in municipal obligations is given below:
Sections 2 and 3 concern State loans and permit
investment in bonds of
the District of Columbia and stock, bonds or interest-bearing obligations
of the United States or any State admitted to Statehood prior to Jan* 1
1896, which has not, within 10 years previous to such investment,
defaulted
the payment of principal or interest; and in the
interest-bearing obligations of any State which at time of invest¬
ment have been outstanding for at least 10 years, and which have been
for
more
bonds
than 90 days in
or
issued (1) for the funding or
settlement of any previous obligation of such
theretofore in default,
or (2) for the refunding of such funding or
obligation of such State theretofore in default; provided there
has been no default on said funding or refunding bond since issuance.
State
settlement
[The old law permitted investment in "bonds of the
United States, the
District of Columbia, any of the New England States, or any
of the States
York, New Jersey, Pennsylvania, Delaware,
Maryland, Ohio,
Kentucky, Michigan, Indiana, Illinois, Iowa, Wisconsin,1 Minnesota, Missouri, Nebraska, Kansas, California, Colorado and Oregon,"]
Sec. 4.
In obligations of any county, town, city, borough, school dis¬
trict, fire district or sewer district in this State.
[Same provision in old law.}
Sec. 5.
In stock or bonds of any incorporated city in a State admitted
of New
I
provides by law that no such railroad corporation which has issued bonds or
debentures shall subsequently execute a mortgage upon its road, equip¬
of its real or personal property, without in¬
cluding in and securing by such mortgage all bonds or debentures previously
issued and all pre-existing debts and liabilities, and provided such corpora¬
tion has paid in dividends in cash an amount equal to not less than 4%
ment, franchise or upon any
per annum on all its .outstanding capital stock in each fiscal year for the
preceding such investments.
If any such railroad company
shall hold the railroad of another such railroad corporation under a lease
items.
—The
was
899
the payment by the lessee as rental of an amount suffi¬
dividends on the capital stock of the lessor amounting in the
which provides for
cient to pay
aggregate in each fiscal year of said lessor, during the term of said lease,
to not less than 4% on all its outstanding capital stock, such lessor shall be
regarded as having paid its dividends within the meaning of this section;
but in case the lessee shall hold any shares of the capital stock of the lessor
such shares shall not be considered as outstanding within the meaning of
this section.
Sec. 8.
No bonds or other Interest-bearing obligations shall be made
a legal investment by sections 6 and 7 in case the authorized issue thereof,
together with all outstanding prior debts of the issuing or assuming cor¬
poration, including all evidences of debt that may legally be issued under
any of its prior authorizations or under any of its assumed prior authori¬
zations, after deducting therefrom, in case of a refunding mortgage, the
bonds reserved under the provisions of said mortgage to retire prior debts
at maturity, shall exceed 3 times the outstanding capital stock of said cor¬
poration at the date of such investment.
*
Sec. 9.
In the bonds issued by a railroad, terminal, depot, bridge, tun¬
nel or street railway corporation organized under the laws of any of the New
England States or the State of New York, the property of which is located
wholly or in part in one of said States, or in the bonds Issued by a railroad,
terminal, depot, bridge, tunnel or street railway corporation, organized
under the laws of any of said States, assumed by a railroad, terminal,
depot, bridge, tunnel or street railway corporation organized under the
laws of said States, provided such bonds shall be secured either by a mort¬
which was at the date thereof, or is at the time of making the invest¬
a first mortgage on not less than 75% of the railroad owned in fee
in the case of a railroad or street railway cor¬
poration, or the fixed property, in the case of a terminal, depot, bridge or
tunnel corporation, owned by the corporation issuing the bonds, or byrefunding mortgage which provides for the retirement of all prior lien bonds
of such corporation, or by a mortgage which is a prior lien on some part of
the property covered by a refunding mortgage which provides for the re¬
tirement of all outstanding prior lien bonds.
No bond shall be made a
legal investment under this section unless the bonds are guaranteed, prin¬
cipal and interest, by endorsement by, or guaranteed principal and interest
by endorsement, which guaranty has been assumed by a railroad corpora¬
tion owning in fee not less than 300 miles of railroad in the New England
States, whose bonds are made a legal investment under sec. 6.
No bonds
shall be made a legal investment by this section in case the mortgage secur¬
ing the bonds shall authorize a total issue of bonds which, added to the total
debt described in sec. 8 of the guaranteeing corporation, including therein
the authorized amount of all previously guaranteed bond issues, shall ex¬
ceed 3 times the outstanding capital stock of said guaranteeing corporation
at the time of making said investment.
Sec. 10.
In the mortgage bonds, as described in Sec. 15, issued or as¬
sumed by any railroad corporation incorporated under the laws of the
United States, or any State, provided such railroad corporation owned in
fee during each of the 5 fiscal years of such railroad corporation next pre¬
ceding the date of such investment not less than 500 miles of standardgauge railroad, exclusive of sidings, within the United States, and provided
such railroad corporation has complied during each of said fiscal years
with the provisions of Sec. 14, or if such corporation owned in fee less than
500 miles of such railroad, the gross earnings of such corporation, as reck¬
oned in sec. 14, shall have been not less than $10,000,000.
Sec. 11.
In the mortgage bonds, as described in Sec. 15, issued or as¬
sumed by any railroad corporation incorporated under the laws of the United
States, or any State thereof, provided during each of the 5 fiscal years of
such railroad corporation next preceding the date of such investment its
railroad subjected to the lien of the mortgage securing its bonds has been
operated by a corporation described in, and which has complied with all
tne provisions of, sections 10 and 14.
No bonds shall be made a legal
investment by this section unless the bonds are guaranteed principal and
interest by endorsement by, or guaranteed principal and interest by en¬
dorsement which guaranty has been assumed by, the corporation operating
the railroad CQvered by the mortgage securing the bonds and which has
complied with all the provisions of sections 10 and 14.
No bonds shall be
made a legal investment by this section/unless the bonds are guaranteed
gage
ment,
at the date of the mortgage,
principal and interest by endorsement by, or guaranteed principal and
interest by endorsement which guaranty
tion operating the railroad covered by
has been assumed by, the corpora¬
the mortgage seeming the bonds
and which has Complied with all the provisions of sections 10 and 14.
Sec. 12.
In the mortgage bonds as described in this Act issued or assumed
city, under the same
such investment, and
bonded debt, after
by any terminal, depot, bridge or tunnel company incorporated under the
laws of the United States, or any State, provided the property of such ter¬
minal, depot, bridge or tunnel company is used by one or more railroad
deducting water debt and sinking funds, does not exceed 7% of the valua¬
tion of the taxable property, ana provided the city issuing such bonds, or
corporations described in, and which have complied with all the previsions
of, sections 10 and 14. No bond "shall be made a legal investment by this
section unless the bond is guaranteed principal and interest by endorse¬
ment by, or guaranteed principal and interest by endorsement which guar¬
anty has been assumed by, one or more railroad corporations described in,
and which has complied with all the provisions of, sections 10 and 14.
Sec. 13.
In the mortgage bonds as described in Sec. 15 issued or assumed
by any railroad corporation incorporated under the laws of the United
States, or any State, provided, during each of the 5 fiscal years of such
railroad corporation next preceding the date of such investment, such rail¬
road corporation owned in fee not less than 100 miles of standard-gauge
railroad, exclusive of sidings, within the United States, and provided such
railroad corporation has complied during each of said fiscal years with the
provisions of sec. 14.
No bonds shall be made a legal investment by this
section unless the bonds are guaranteed principal and interest by endorse¬
ment by, or guaranteed principal
and interest by endorsement, which
guaranty has been assumed by, a corporation described in, and which has
complied with all the provisions of, Sections 10 and 14, nor unless it complies
with the provisions of sec. 16.
Sec. 14.
Any railroad corporation described in sections 10 and 13 shall
comply with the provisions or this section during each of the 5 fiscal years
of such railroad corporation next preceding the date of such investment,
before any of> its mortgage bonds as described in sec. 15 shall be made
a legal investment: Such railroad corporation shall have paid the matured
prior to Jan. 1 1896, incorporated as a
different name, at least 25 years prior to making
to Statehood
or a
which has not less than 20,000 inhabitants; provided the
90 days in
the payment of any of its funded indebtedness or the interest thereon,
within 15 years next preceding the purchase of such bonds.
The provisions
of this section shall not authorize Investment in any "special assessment"
or "improvement" bonds, or other bonds or obligations which are not the
direct obligations of the city issuing the same, and for which the faith and
credit of the issuing city are not pledged.
[The only difference between
the section above and the old law is that it makes eligible the securities of
any city incorporated 25 years and situated in a State admitted prior to
Jan. 1896, whereas the old statute specified in what State a city must be
situated and contained no requirement as to incorporation.]—-
the State in which it is located, has not defaulted for more than
new law regulate invest¬
corporations and street rail¬
ways.
We have not the space to enumerate here the various
changes made in this part of the new law.
However, we
give the sections in full below, and for comparison refer our
readers to page 33 of the "State and City Supplement" of
May 31 1913, where the old law is printed.
Sections 6 to 22 inclusive of the
ment
in securities of railroad
Sec. 6.
In the bonds or interest-bearing.obligations issued by a railroad
corporation organized under the laws of any or the New England States,
and owning in fee not less than 300 miles of railroad located in said States,
and which has paid in dividends in cash an amount equal to not less than
4% per annum on its outstanding shares of capital stock in each fiscal year,
for tne 5 years next preceding such investment, or in the bonds or interestbearing obligations issued by a railroad, terminal, depot, bridge, tunnel or
street railway corporation organized under the laws of any of the New
England States or the State of New York assumed by a railroad corporation
organized under the laws of any of the New England States and owning
in fee not less than 300 miles of railroad located In said States and complying
with all the provisions of this section; if any such railroad corporation shall
be leased to another railroad corporation organized under the laws of any
of the New England States and owning in fee not less than 300 miles of
railroad located in said States, under a lease which provides for the pay¬
ment by the lessee as rental an amount sufficient to pay dividends on the
capital stock of the lessor amounting in the aggregate in each fiscal year
of said lessor corporation during the term of said lease to not less than 4%
on its outstanding capital stock, such lessor shall be regarded as having
paid its dividends within the meaning of this section, but in case the lessee
shall hold any shares of the capital stock of the lessor, such shares shall not
be considered as outstanding within the meaning of this section.
Sec. 7.
In bonds or debentures actually issued by a railroad corporation
incorporated in any of the New England States, at least lA of the railroad
of which is located in said State, whether such corporation is in possession
of and is operating its own railroad or such railroad is leased to another
railroad corporation incorporated in any one of the New England States,
provided such bonds or debentures shall be secured either by a mortgage
which was at the date thereof, or is at the time of making the investment,
a first mortgage on not less than 75% of the railroad
of such corporation
owned in fee at the date of the mortgage, or by a refunding mortgage which
provides for the retirement of all prior lien mortgage bonds of such railroad
corporation, or by a mortgage which is a prior lien on some part of the rail¬
road covered by a refunding mortgage which provides for the retirement
of aH outstanding prior lien bonds, or that ir the railroad and railroad
property of such corporation are unincumbered by mortgage, such bonds
or debentures shall be issued under the authority of one of said States which
Erincipal and stockholdersall indebtedness and shall have paid inall its out¬
cash to Its interest of
dividends
an amount equal to at least 4% upon
l
standing capital stock; the gross earnings from the operation of the property
of such railroad corporation, including therein the gross earnings of all
railroads leased and operated or controlled and operated by said corpora¬
tion, and the gross earnings from the sale of coal from mines owned or con¬
trolled by it, shall not have been less in amount than 5 times the amount
necessary to pay the interest payable upon its entire outstanding indebted¬
ness, the rentals of all leased lines, and the interest on all outstanding in¬
debtedness of railroads controlled and operated which are not owned by
said corporation, after deducting from said interest and rentals interest and
dividends received from the stocks, bonds or notes of railroad corporations
not operated by said corporation, which have been deposited with a trustee
as the only security for the payment of bonds or notes issued
by said cor¬
poration, but not in excess or the interest on said last-named bonds or notes.
Sec. 15.
Whenever the term "mortgage bonds" is used in sections 10 to
20, inclusive, it shall mean either (1) That the mortgage securing the bonds
was at the date thereof, or is at the date of such investment, a first mortgage
on not less than 75% of the railroad, in the case of a railroad corporation,
or the fixed property, in the case of a terminal, depot, bridge or tunnel com¬
pany, owned in fee at the date of the mortgage by the corporation which
executed the mortgage and issued the bonds; that 75% of the railroad sub¬
ject to the lien of said mortgage is connected; that the date of said mortgage
is at least 5 years prior to the date of such investment, unless the corpora¬
tion issuing, assuming or guaranteeing the bond has complied with sec. 14
for each of the 10 fiscal years of such corporation next preceding the date
of such investment; but a mortgage given in substitution for and not greater
in amount than such mortgage, and covering the same railroad or property,
shall be considered to be in accordance with this requirement; (2) That if
the mortgage securing the bonds was at the date thereof, or is at the date
of such investment, not a first mortgage on not less than 75% of the rail¬
road owned in fee at the date of the mortgage, it is a first mortgage on at
least 75% of the railroad subject to the lien of said mortgage at the date
thereof; but if any stocks or bonds are deposited with the trustee of said
mortgage as part security therefor, representing or covering railroad mile¬
age not owned in fee, the bonds secured by said mortgage shall not become
900
THE
CHRONICLE
legal Investments unless said corporation owns
in fee at least 75% of the
total mileage which is
subject to the lien of such mortgage, including the
mileage which is represented or covered
by said stocks or bonds; that 75%
of the railroad subject to the lien of
said mortgage is connected; that the
date of said mortgage is at least
5 years prior to the date of such invest¬
ment, unless the corporation issuing,
assuming or guaranteeing the bond
has complied with sec. 14 for each of
the 10 fiscal years of such
corporation
next preceding the date of such
investment; but a mortgage given in sub¬
stitution for and not greater in amount
than such mortgage, covering the
same railroad or
property, shall be considered to be in accordance with this
requirement.
(3) That the mortgage securing the bonds was at the date
thereof, or is at the date of such investment, afirst
mortgage or a mortgage
or trust indenture which Is in
effect a first
mortgage upon all the railroads,
subject to the lien of said mortgage or trust indenture
by virtue of the irrevo¬
cable pledge with the trustee thereof of
an entire issue of issues of bonds
which are a first lien, upon the railroad of
a railroad corporation which is
owned and operated, controlled and
operated, or leased and operated, by
the corporation issuing or
assuming said bonds; that 75% of the railroad
subject to the lien of said mortgage Is connected; that the date of said mort¬
gage is at least 5 years prior to the date of such
investment, unless the cor¬
poration issuing, assuming or guaranteeing the bonds has
complied with
sec. 14
for each of the 10 fiscal
years of such corporation next preceding
the date of such
investment; but a mortgage given in substitution for and
not greater in amount than such
mortgage, and covering the same railroad
property, shall be considered to be in accordance with this requirement.
(4) That the mortgage securing the bonds was at the date
thereof, or is at
the date of such investment, a
refunding mortgage which provides for the
retirement of all prior lien mortgage bonds of said
corporation outstanding
at the time of said
investment, and covering at least 75% of the railroad
owned in fee by said company at the date of
said mortgage.
No mortgage
is to be regarded as a
refunding mortgage under the provisions of this sec¬
tion unless the bonds which it secures mature at a later
date than any bond
which it is given to refund; but, in case bonds are issued to
mature at an
earlier date than any bond which it is
given to refund, the mortgage contans the provisions that bonds issued to mature at an earlier
date may be
retired by a like amount of bonds reissued under said
mortgage. (5) That
the mortgage securing the bonds is a
prior lien to a refunding mortgage
described above, on some part of the railroad or railroad
property covered
by said refunding mortgage, provided the bonds issued under such
mortgage
are to be refunded by said
refunding mortgage, and the
property covered
by said prior lien mortgage is operated by, and its operations included in,
those of the railroad corporation issuing said
refunding mortgage.
Sec. 16.
No bond shall be made a legal investment by Sec. 10 in case
the mortgage securing the same shall authorize a total issue of
bonds, which,
together with all outstanding prior debts of the issuing or assuming corpora¬
tion, including all bonds not issued that may legally be issued under any of
its prior debts, or of its assumed prior
debts, after deducting therefrom in
case of a refunding mortgage
the bonds reserved under the provisions of
said mortgage, to retire prior debts at maturity, shall exceed 3 times
the
outstanding capital stock of said corporation at the date of such investment;
no bond shall be made a legal investment
by sections 11, 12 and 13 ip case
the mortgage securing the same shall authorize a total issue of
bonds, which,
added to the total debt, as defined in this section, of the
guaranteeing cor¬
poration, including therein the authorized amount of all previously guar¬
anteed bond issues, shall exceed 3 times the
capital stock of said guaran¬
teeing corporation outstanding at the time of making said investment; in
case of a mortgage executed prior to the
passage of this Act, under which
the total amount of bonds which may be issued is not
specifically stated,
the amount of bonds outstanding thereunder at the date of
such invest¬
.
ment shall be considered
Sec. 17.
as
the total authorized issue
Bonds which have been
or shall become
legal investments under
of the provisions of sections 10 to 20, incl., shall not be rendered
illegal,
although the corporation issuing, assuming or guaranteeing such bonds
shall fail for a period not exceeding 2 successive fiscal
years to comply with
the requirements of sections 10 and 14; but no further investment
in the
bonds issued, assumed or guaranteed by said
corporation shall be made
after the first fiscal year of such failure; but
if, after the expiration of said
period, said corporation complies for the following fiscal year with all the
requirements of sections 10 and 14, it shall be regarded as having complied
therewith during said period, and thereupon said bonds shall be
legal in¬
vestments, but in case of any subsequent failure to comply with sections 10
and 14 the bonds of said corporation shall not be
purchased until said cor¬
poration shall have complied each year for 5 successive years with said
any
sections 10 and 14.
«
Sec. 18.
Bonds which have been or .shall become legal investments
under any of the provisions of sections 10 to 20, incl., shall not be
rendered
illegal because the property upon which they are secured has been or shall
be conveyed to or legally acquired by another railroad
corporation, and the
corporation which issued or assumed said bonds has been or shall be con¬
solidated with another railroad corporation, if the consolidated or
,
,,
,
„
,
purchas¬
ing corporation shall assume the payment of said bonds, and so long as it
shall continue to pay regularly interest or dividends, or
both, upon the se¬
curities issued against, in exchange for, or to acquire the stock
of, the cor¬
poration consolidated, or the property purchased, or upon securities sub¬
sequently issued in exchange or substitution therefor, to an amount at least
equal to 4% per annum upon the capital stock outstanding at the times
of such consolidation or purchase, of said
corporation which issued or as¬
sumed
said bonds.
Sec. 19.
If a railroad corporation which has complied with all the re¬
quirements of sections 10 and 14 except that the period of compliance is
less than 5 years, shall be, or shall have been, consolidated or
merged with,
or its railroad purchased and all the debts of such
corporation assumed by,
another railroad corporation incorporated under the laws of the
United
States, or any State, the corporation so succeeding shall be considered as
having complied with all the provisions of said sections during those suc¬
cessive years next preceding the date of such
consolidation, merger or pur¬
chase, in which said consolidated, merged or purchased corporations, if
considered as one continuous corporation in
ownership and possession,
would, taken together, have so complied, provided in the case of a railroad
corporation which has complied with all the requirements of said
sections,
except that the period of compliance is less than 5 years, said
succeeding
corporation shall continue so to comply for a further period which shall
make such compliance equivalent to at jeast 5 successive
years.
Sec. 20.
If, by means of consolidation, merger or purchase, a railroad
corporation shall own and possess, the properties and franchises which,
prior
thereto, were of other such corporations, and, during the years next
pre¬
ceding such consolidation, merger or purchase, one or more- of said cor¬
porations, have regularly paid in cash to stockholders dividends in amounts
equaling or exceeding 4% per annum upon the entire capital stock of the
successor corporation outstanding at the time of the
investment, such suc¬
cessor corporation shall be considered as
having paid such dividends during
the same period of years.
Sec. 21.
Savings banks may invest not exceeding 2% of their deposits
and surplus in equipment trust notes, bonds or certificates
issued by, or
which are guaranteed by endorsement both as to
principal and interest by,
or which are secured by lease of equipment to, a railroad
corporation which,
in case of a railroad corporation incorporated under the laws of
any of the
New England States, has complied with Sec. 6, or
which, in the case of a
railroad corporation incorporated under the laws pf
any other State, or of
the United States, has complied with all the provisions of
sections 10 and
14, provided said notes, bonds or certificates are secured by a first lien
on,
or by a lease and conditional sale
of, new standard railroad equipment
free
from other encumbrances, for the purchase of which said
notes, bonds or
certificates were issued at not exceeding 90% of the
purchase price thereof,
and provided the instrument under which such
notes, bonds or certificates
are issued,
or the lease of such equipment to the railroad
corporation,
provides for the proper maintenance of the equipment covered
thereby
and for the payment of the entire issue of such
notes, bonds or certificates
in not exceeding 15 annual or 30
semi-annual installments, without
the
release of any part of the lien or interest in any of the
equipment securing
such notes, bonds or certificates until the entire issue of such
series of
bonds
certificates
notes,
shall
have been paid or redeemed.
No equipment
trust notes, bonds or certificates shall be made a
legal investment by this
section in case the series authorizes an amount which, added to
the total
debt as defined in sec. 8, in the case of a
railrpad corporation organized
under the laws of any of the New England
States, or Sec. 16 in the case of
a railroad corporation organized under the laws of
any other State or of the
United States, which issued or guaranteed or is the lessee of the
or
equipmen 6
securing such equipment trust notes, bonds or certificates,
including therein
the outstanding amounts ©f all previously issued series of such
equipmen
trust notes, bonds or certificates, shall exceed 3 times the
of such railroad
vestment.
capital stock
corporation outstanding at the time of making said in¬
<
Sec. 22.
Savings banks may invest not exceeding 2>% of their
and surplus in bonds issued by any street
railway corporation
deposits
incorporated
»
[Vol.
xcvii.
in this State
the railway of which is
located wholly or in part
therein, pro¬
vided such bonds are
secured by a mortgage which was at
the date of th
mortgage or is at the date of the
investment a first
mortgage on not less
than 75% of the
railway of such corporation owned in fee at the date
of the
mortgage, and provided the gross
earnings of said corporation each fiscal
vear for the 5
years next
preceding the date of such investment were not
less than
and
$100,000, and that said corporation in each of said
years earned
paid in dividends in cash an amount
equal to at least 4% per annum
upon the outstanding capital stock, and provided, at the
date of any such
dividend, the outstanding capital stock is
equal to at least H of the debt
of such
corporation.
Sections 23, 24 and 25, given
below, add to the list of se¬
curities in which banks
may invest the bonds of water com¬
panies and telephone companies.
Sec. 23.
Savings banks may invest not
exceeding 2% of their deposits
surplus in mortgage bonds and other
interest-bearing obligations of
and
any water company supplying water for domestic use
this State
having a population of not less than 50,000
to
communities in
whose franchise is
and unlimited in
time, provided the amount of all the
out¬
standing debts of such company does not exceed Its
capital stock, and pro¬
vided such water
company has earned each year and
paid in cash from its
officially reported net earnings, as shown
an
exclusive
one
by its annual report or other
official statement, to
municipal, State or United States authorities,
dividends of not less than
4% per annum on its entire
outstanding capital
stock, for a period of 4 years next
preceding the making of the investment.
Sec. 24.
Savings banks may invest not exceeding
2% of their deposits
and surplus in bonds of
any telephone company
incorporated in this State,
whose property is located
chiefly in this State, which are secured by a first
mortgage upon at least 75% or the
property of such company, including
its
franchises, rights and privileges, and limiting the amount of
bonds issu¬
able thereunder to
75% of the valuation of the property
mortgaged, exclud¬
ing any valuation of said franchises,
rights and privileges, and providing
the gross income of such
telephone company shall have been not less than
$2,000,000 per annum during each of the 5 fiscal
years of such telephone
company next preceding the date of such
investment.
Sec. 25.
Savings banks may invest not exceeding
2% of their deposits
and surplus in bonds of
any telephone company
incorporated in any of the
New England
States, or in the State of New York, and secured
by a first
mortgage upon at least 75% of the
property of such telephone company,
or by the
deposit with a trust company incorporated under
the laws of one
of the New
England States or of the State of New York of bonds
sworn
and shares
of stock of other
telephone corporations under an indenture of trust
which
limits the amount of bonds so
secured to 75% of the value of the
securities
deposited as stated and determined in said
indenture, and provided the
gross income of such
telephone company shall have been not less than
$25,000,000 per annum during each of the 5 fiscal
years of such telephone
company next preceding the date of such investment.
No bond of a tele¬
phone company shall be made a legal investment
under sectiions 24 and 25
unless during each of the 5 fiscal
years of such telephone company next
preceding the date of such investment said telephone
company shall have
paid the matured principal and interest of all its
indebtedness, and shall
have paid, during each of said
years, in cash dividends an amount
equal
to not less than
6% per annum on all its outstanding issues of
capital stock,
and the dividends
paid on the capital stock of such
telephone company
shall not have been less than the
total amount necessary to
pay the interest
upon its entire outstanding indebtedness.
Sec. 26 permits savings banks to
invest in the capital stock of
any bank
or trust
company located in Connecticut or in New York
City or Boston,
Mass.
The old law granted this
authority, but the new law goes further
and limits the amount to be
invested in this
security.
It says:
"No
savings bank shall hold by way of investment and as
security for loans
than 20% of its
deposits in the stocks of such banks or trust com¬
panies, at par value, nor more than 3% or its
deposits, nor more than $100,000 of par value in, nor more than
of the capital stock of,
any such bank
or trust
company.
The provisions of this section shall not render
illegal
any such investments now owned
by any bank or trust company."
more
Loans secured by real estate are
regulated by Sections 27
and 28 of the new law.
These sections follow:
Sec. 27.
Savings banks may invest in loans secured by first
mortgage
on unencumbered real
estate not to exceed
50% of the value of such real
estate, located in this State, or in the counties of
Providence or Washing¬
ton in Rhode Island, or in the
counties of Hampden or Berkshire in
Massa¬
chusetts, or in the counties.of Dutchess, Putnam or
Westchester in New
York.
Sec. 28.
When any loan is made by a
savings bank upon real estate, the
security shall be appraised by two or more suitable
persons well known in
the community where such loan is
made, one of whom shall be a trustee of
the bank making the loan.
Such appraisal shall
express upon its face
the amount at which such
property is appraised, and, together with a cer¬
tificate of title or a title insurance
policy, shall be lodged and kept with the
institution making such loan.
No loan shall be made
by any savings bank
to any corporation or association or
ecclesiastical society secured by a mort¬
gage upon its property unless the same shall
be accompanied by the in¬
dividual guaranty of some
responsible party or parties, or by other collat¬
eral security of value equal to
the amount of the sum loaned.
The direc¬
tors or trustees of
any bank consenting to any loan
contrary to the
visions of this section shall be
of such loan.
son
individually responsible for
pro¬
any
loss by rea¬
Sec. 29.
Savings banks may invest not exceeding
20% of their deposits
and surplus in notes secured
by pledge of stocks or bonds as
collateral, pro¬
vided the corporation
issuing such stock or bonds shall have paid thereon
dividendsmr interest at the rate of not less than
4% (3% in old law) per
annum during the 2
years next preceding the time when such loan is
made;
or by the
pledge of any stocks or bonds or other obligations which under
the provisions of this Act may be
purchased by savings banks; but the
market value of any securities
given to secure any collateral loan shall be at
least 20% in excess of the amount
of the loan and not more than 5% of the aggre¬
gate deposit in any savings bank shall be loaned on the
stocks, bonds or other
obligations of one corporation, or by the pledge of
in savings banks in this State to an amount
not
said savings banks on such
deposit account.
that added to old law.]
Sec. 30.
Savings banks may invest not
deposit accounts and books
exceeding the balance due from
[Matter in italics represents
exceeding 10% (20% in old law)
of their deposits and surplus in
notes, each of which shall be the joint and
several obligation of two or more parties, all
residents of this State; but no
savings bank shall loan on personal security to one
person more than 3% of
its deposits at the time
of making such loan,
No savings bank shall
buy, or
lend any money upon any obligations on
which only one person or
firm shall
be holden without taking additional
security dor the same equivalent to the guar¬
anty or endorsement of some other responsible
party.
[Matter in
that added to old
Sec.
italics
law.]
is
31
subjects the amounts which' may be expended to
purchase or
any building for the purpose of
accommodating the business of
such bank to the approval of the bank
commissioners.
Sec. 32.
Savings banks may deposit in incorporated banks or
trust com¬
panies located in this State or the States of New
York, Massachusetts or
Rhode Island, or the city of
Philadelphia, but such deposits shall not in
any case exceed 30% of the capital stock,
surplus and undivided profits
of such depository.
construct
Sections 33, 34 and 35 concern rates of
interest on loans,
record of loans and the investment of
deposits in accordance
with general statutes.
Sec.
ment
36.
in,
The provisions of this Act shall not
render illegal the invest¬
the investment hereafter
nor
obligations issued
in,
or assumed
by
a
any
bonds
or
interest-bearing
railroad corporation, which
investment at the time of the
passage of this Act, so
long
were a
legal
as such bonds or
interest-bearing obligations continue to
comply with the laws in force prior
to the passage of this Act; but no such
bond or
interest-bearing obligation
that fails, subsequent to the passage of this
Act, to comply with said laws
in force, prior to this Act, shall
again be a legal investment unless
such
bonds or interest-besring obligations
comply with the provisions of this
Act.
Sec. 37.
If any street railway
company, the bonds of which are a
legal
investment, prior to the passage of this Act, shall
fail, in any fiscal year sub¬
sequent to the passage of this Act, to pay dividends
equal to 4% upon its
outstanding capital stock, the bonds of such
to
railway company shall cease
a legal investment until such
company shall have complied with all
provisions of sec. 22 of this Act.
be
the
Sec. 38.
Prior to the first
day of November 1913 the Bank Commission¬
ers shall ascertain what bonds and
other
interest-bearing obligations are
legal investments under the provisions of this
Act, and shall also ascertain
Sept. 27
THE
1913.]
what bonds and obligations are then legal investments
of sec. 36, and within the first ten days of November
missioners shall send to each savings bank,
under the provisions
1913 said Bank Com¬
and to each bank and trust com¬
pany having a savings department, a certificate stating over their signatures
that upon investigation they find that the bonds and obligations specified
in
one list in said certificate are.authorized as legal investments by the pro
visions of this Act, and that the bonds and obligations specified in a second
list
therein
are
authorized
as
legal investments under the provisions of
36.
sec.
Within the first ten days of the month of November 1913 and
of the months of May and November in each year thereafter, said bank com¬
missioners shall send to each savings bank and to each trust company
Sec. 39.
having
a
savings department a similar certificate.
Sec. 40.
Said certificate shall be prima facie
evidence of the correctness
of the findings of said Commissioners, and shall so continue until the issu¬
ance of the next Certificate of said Commissioners, or of an intermediate
certificate correcting and changing the list of legal investments in the cer¬
The purchase of any bona or obligation specified in
such certificate made before said respective bonds or obligations are
withdrawn or omitted by the Bank Commissioners in a subsequent certifi¬
tificate last issued.
any
cate issued by them shall be a legal investment
Sec. 41.
under this Act.
Any person financially interested in any finding
Commissioners
of theBank
bond or obligation may take an appeal therefrom
to the Superior Court next to be holden at Hartford, which Court shall have
power to inquire into and render a judgment whether said bond or oblias
to any
?;ation comes within In provisions of this Act as an service thereof shall be
the
savings banks.
of such an appeal, due authorized investment
or
case
made upon the Bank Commissioners at least 12 days before the return
day of said appeal.
Sec. 42.
In the sections of this Act which relate to railroad bonds the
word "debt" shall be construed to mean obligations issued or assumed
evidenced by a series of bonds or other interest-bearing instruments which
mature at a time or times exceeding 3 years after their date, and the term
"railroad corporation" shall be construed to mean a corporation which owns
is in possession of and operating a railroad or railway of the class usually
operated by steam power.
Street railway corporations are not railroad
corporations within the meaning of this Act.
or
Fairmont, Marion County, W. Va.—Commission Form
Government Adopted.—The question of establishing a
commission form of government carried, it is stated, at the
election held Sept. 15 by a vote of 1,669 to 1,295.
of
Kentucky.—Proposed Constitutional Amendments.—At the
general election in November the voters will pass upon two
proposed constitutional amendments.
One of these allows
the employment of convict labor upon public roads and
bridges.
The other amends Section 171 of the constitution
and gives the Legislature power to divide property into classes
and determine what class or classes of property shall be
subject to local taxation.
It is provided also that bonds of
the State and of counties, municipalities, taxing and school
districts shall not be subject to taxation.
Any tax law
enacted undeh this amended section shall be subject to the
referendum power of the people, which is declared to exist
to apply only to this section.
It is further provided that the
veto power of the Governor shall not extend to measures
'
referred to the voters.
so
.
Massachusetts.—Comparison of City Debt, Valuation, &c.
—A very interesting and valuable comparison of the debt,
valuation, population and tax rate of Massachusetts cities
in 1895 and 1913 is furnished in a circular compiled and pub¬
lished by Eliphalet T* Tifft, Treasurer of the City of Spring¬
field.
The figures for 1895 are taken from a table issued by
Mr. Tifft in 1896.
Using the circular just issued, we have
prepared the table below, giving all of the figures compiled
by Mr. Tifft, with the exception of the population and rank
of the various cities.
% of Debt
.
•—Assessed Valuation
1895.
1913.
$
Cities—
$
Net Funded Debt '*—
Julv 1 '95. July 1 '13.
$
%
901
CHRONICLE
to Value. Tax Rates.
'95. '13. 1895. 1913.
$
S
I
S
.951,362,519 1520,974,526 26,135,691 54,097,788 2.74 3.56 12.80 17.20
88,044,516 161,740,150 1,749,625 4,954,619 1.98 3.06 15.40 17,60
Fall River... 65,055,128
99,886,068 1,174,923 5,121,487 1.80 5.13 17.20 20.30
Lowell
68,782,042
87,041,693 1,967,446 2,944,999 2.86 3.38 18.00 19.40
Cambridge.. 80,850,260
121,132,290 2,092,710 6,096,089 2.58 5.03 15.70 20.40
Lynn
49,698,056
86,005,977 1,183,797 2,460,864 2.38 2.86 17.20 20.00
New Bedford 52,540,233
104,521,403 1,012,454 6,004,601 1.92 5.74 15.40 20.20
Somerville.. 46,506,300
71,906,464
817,000 1,592,000 1.75 2.21 15.40 19.80
Lawrence... 33,533,588
78,710,803
376,677 1,825,181 1.12 2.32 16.00 18.00
Springfield.. 59,033,141
169,640,484
280,000 3,605,621
.47 2.13 12.20 15.80
Holyoke
27,704,625
60,354,683
993,976 1,167,632 3.58 1.93 16.80 16.60
Salem
27,574,600
37,250,922
503,479 1,224,050 1.82 3.29 18.50 20.50
Brockton... 22,540,870
50,508,837 1,199,060 1,764,800 5.31 3.49 18.60 21.00
Chelsea
22,515,043
28,670,580
842,424 1,821,275 3.74 6.35 17.00 21.80
Haverhill... 20,793,004
39,891,136
445,610 1,186,522 2.14 2.97 16.70 19.00
Maiden
23,071,940
41,661,530
710,371 1,230,267 3.07 2.95 15.70 19.20
Gloucester.. 15,908,496
25,588,173
253,867
610,750 1.59 2.39 16.40 19.40
Newton
47,374,690
82,476,040 1,644,847 2,377,668 3.45 2.88 14.60 18.20
Taunton
19,203,484
25,105,205
163,399
624,407 ,85 2.49 17.60 20.40
Fltchburg... 19,760,564
33,232,619
621,078
868,057 3.14 2.61 18.10 19.60
Waltham... 18,051,576
30,217,200
616,038
373,245 3.41 1.24 16.00 17.30
Qulncy
17,325,855
36,716,260
302,520 1,532,906 1.74 4.18 16.80 23.70
Plttsfleld
13,285,330
37,724,125
230,000
989,000 1.73 2.62 16.30 16.60
North Adams
7,328,751
16,343,329
174,500
630,120 2.38 3.86 18.20 20.90
Everett
13,574,600
30,727,700
329,336 1,025,071 2.42 3.34 16.70 21.00
Northampt'n 10,675,197
17,450,911
345,000
164,406 3.23 .94 15.00 16.00
Chicopee
8.411,780
17,017,960
201,260
321,200 2.39 1.89 13.80 21.50
Marlborough
8,667,383
10,722,485
294,883
240,545 3.40 2.24 17.90 21.90
Newburyp't.
9,735,949
12,617,958
273,058
310,472 2.80 2.46 16.50 19.50
Medford
16,912,900
28,297,150
308,609
924,455 1.23 3.27 13.00 19.00
Woburn
9,672,846
12,070,310
193,600
316,210 2.00 2.62 17.80 20.50
Beverly
13,887,125
40,459,900
683,562 1,273,700 4.92 3.15 15.20 17.70
Melrose.............
18,003,525
496,717 ... 2.75
20.40
Boston
Worcester...
...
.
,
...
,
pointment and not elected by the people—of the Court of
Appeals, Hiscock, Chase and Miller, to sit as members of
the Impeachment Court.
Judge Cullen said that he had no
doubt about their right and duty to sit, but wished the opin¬
ion of the Court.
Counsel for both sides then announced
they had agreed to the eligibility and eminent desira¬
bility of the designated judges sitting as members of the
Court.
Counsel for the Governor then interposed chal¬
that
lenges, on the ground of bias, against Senators Frawley,
Wagner, Sanner and Ramsperger, sitting as members of the
Court.
Senator Wagner, it was declared, was an interested
Mr. Sulzer
party, inasmuch as the removal from office of
would
make
Lieut.-Gov. Martin H. Glynn
whereupon Mr. Wagner, as temporary
automatically
ate,
would
become
The other three Senators were
Governor;
President of the Sen¬
Lieutenant-Governor.
challenged
on
the ground that
members of the Frawley Committee, and as such
had subscribed to a report virtually pronouncing Mr. Sulzer
guilty of the charges he is called upon to answer before the
Court.
Judge Cullen decided that there was no ground for
the challenges, and this view was sustained by a vote of the
entire Court.
This makes the membership of the Court 59,
and 40 votes, or a two-thirds majority, must be registered
against Mr. Sulzer to oust him from office.
The next point raised in the Governor's behalf was that
the Court was without jurisdiction for the reason that the
Assembly had exceeded its constitutional authority in adopt¬
ing the articles of impeachment at an extra session when no
such action was recommended by the Executive.
This mat¬
ter was decided on the question:
"Shall the motion to dis¬
miss the impeachment articles be granted?" and the rollcall showed 51 "nays" and only one "aye," that of Senator
Wende.
In explaining his vote, Judge Cullen said:
they
were
learned counsel for the managers that the Assembly
at any time and present articles of impeach¬
doctrine I dissent in toto.
It is true that it is the
Assembly that has the right given it by the constitution to impeach, but
the Assembly does not consist of the individual members of its body except
when they are duly assembled.
That is plain elementary parliamentary
law.
It is also the common law applying to all bodies.
The individual action even of a majority does not constitute the action
of the body, whatever it may be, unlesss all parties have had an oppor¬
tunity to attend and be heard. Any other rule, it seems to me,would cause,
or might cause, inextricable confusion in the management of public affairs.
If we assume that any member of the Assembly may convene that body
—or the Speaker—for the purpose of impeachment, the body so meeting
would have no power to protect itself.
It would be a scene of disorder, and,
if so, before there had been any election of a Speaker one member might
convene it at one spot and one at another.
It would lead to anarchy.
The extreme that has been suggested, that a Governor might commit
treason, while it is theoretically possible to imagine it is quite improbable
and I think little weight should be given to it.
Anyway, extreme cases
do not control the construction of statutes or constitutions.
The constitution gives the Assembly power to impeach,
It was in regu¬
lar session.
I use regular session in the sense that it was regularly convened,
in response to a call by the Governor.
Now, having the power of impeach¬
ment, it could exercise that at any time unless we find another provision
in the constitution which restricts it or forbids it.
That provision is claimed
to be found in the fourth section of the fourth article of the constitution,
in which it is said:
"At extraordinary sessions no subject shall be acted
It is urged by the
has the inherent right to meet
ment.
From
that
as the Governor may recommend for consideration."
apply to this power of impeachment?
It is urged, of course,
an ordinary legislative power except in the sense that any¬
thing that is done by the Legislature is legislative.
The counsel for the
respondent contend that this includes ail business that may be transacted
by either House of any character.
Now, there would be force in that argu¬
ment if there were not other facts that really abrogate the force of the argu¬
ment and tend to establish a contrary proposition.
upon except
Does that
such
that this is not
•After
of the
giving his interpretation of the meaning the
framers
Cullen
constitution intended to convey, Judge
con¬
cluded:
shall submit business
the Governor's business that
the Senate.
But it gave the
I think that when it was said that the Governor
for consideration to the Legislature, it was
was
meant, not that of the Legislature, not of
Assembly the right to impeach.
I therefore am of the opinion that this right does not come within the
limitation of the constitution.
We must give a reasonable construction
of it, and, so construed, these subjects all relate to what the Legislaure as
a body can do and not to the power vested in one branch of the Legislature.
I vote no.
disposition of these questions, Governor Sulzer's
objected to the consideration of Articles 1, 2
and 6 of the impeachment charges.
These,articles charged
the Governor with filing and swearing to a false statement
of monetary transactions involved iti his campaign, and with
using a part of the contributions to speculate on the New York
Stock Exchange.
It was contended that these articles
should not be included, as they had to do with acts committed
before the Governor assumed office.
Judge Cullen made the
With the
counsel next
...
-
Average
*
2.50 3.07 16.20 19.40
Water debts and other Income debts deducted.
Meridian, Miss.—Debt Limited to 10% of Assessed Valua¬
tion.—An election held Sept. 19 resulted in favor of a char¬
ter amendment limiting the city's indebtedness to 10% of
the assessed valuation and providing that bonds may be
issued for certain purposes of improvement on a majority
vote.
The proposition carried, it is said, by a vote of 769
to 236.
New York State.—Sulzer Impeachment Proceedings.—On
Wednesday afternoon (Sept. 24) the High Court of Impeach¬
ment disposed of the last of the questions raised by -counsel
for Governor Sulzer regarding the organization and juris¬
diction of the Court, and began the taking of testimony.
Upon the convening of the Court on Sept. 18 the presiding
Judge himself^ Chief Judge Edgar M. Cullen of the Court
of Appeals, raised the question as to the eligibility of the
three designated judges—that is, judges designated by ap¬
suggestion that the motion to strike out the three articles
impeachment be denied for the present and decision re¬
served until all the testimony is heard, and this course was
approved by a vote of 49 to 7.
With this action, as stated
above, the Court began the taking of testimony.
Home Rule Law Held Valid.—In a decision rendered Sept.24J
of
Supreme Court Justice Greenbaum upholds the validity of
the home rule law enacted in April and printed in full in the
"Chronicle" of April 12, page 1108.
The question was be¬
fore the Court in the suit of Joseph 0. Hammitt in behalf
of the Citizens' Union against the Board of Estimate to re¬
strain the payments of pensions to city employees upon their
retirement after 30 years' service.
The announcement is
made that an appeal will be taken from Justice Greenbaum's
ruling.
Direct Tax Bill
Signed.—Acting Governor Glynn on Sept. 19
signed the bill passed by the Legislature on Sept. 17 provid¬
ing for the levy of a direct tax of six-tenths of a mill.
Pennsylvania.—Constitutional Amendment.—At the gen¬
eral election
on
to Section 4 of
issuance of
Nov. 4
a
vote will be taken on an amendment
Article 9 of the Constitution, permitting the
$50,000,000 bonds by the State for improving
and rebuilding
highways.
.
■
'
902
THE
South
Carolina.—Validity
cided—The
case
of State
CHRONICLE
Side Improvement Dist. No.
15—Bond No. 16.
Side Improvement Dist. No.
19—Bonds Nos. 1 to 3 inclusive.
Side Improvement Dist. No.
21—Bonds Nos. 1 to 8 inclusive.
Denver Improvement Dist. No.
4—Bond No. 57.
Denver Improvement Dist. No.
5—Bond No. 50.
Denver Improvement Dist. No.
6—Bond No. 14.
South Denver Improvement Dist.
No. 9—Bonds Nos. 1 to 16 inclusive.
South Side Improvement Dist.
No. 1—Bonds Nos. 180 to 184 inclusive.
Paving Bonds.
Alley Paving Dist. No. 14—Bond No. 17.
Colfax Ave. Dist. No. 3—Bonds Nos.
46 to 49"inclusive.
Fifteenth St. Paving Dist. No.
2—Bond No. 23,
Montclair Parkway Suburban
Paving Dist. No. 1—Bond No. 45.
Welton St. Paving Dist. No. 1—Bond
No. 44.
Comptroller-General, State Treasurer, Attorney-General and
Legislature, to enjoin the issuance of the
two members of the
refunding bonds.
The Governor filed a separate return in
joined in the prayer of the petition and alleged fraud
Park Bonds.
which he
and collusion
Montclair Park Dist.—Bonds Nos. 414 to
419 inclusive.
Curbing Bonds.
South Side Curbing Dist. No.
2—Bonds Nos. 36 and 37.
the part of the other members of the Sink¬
ing Fund Commission in connection with the sale of the new
bonds and the
bringing of the suit.
The decision is a com¬
on
Sidewalk Bonds.
Park Hill Heights Sidewalk
Dist.—Bond No.
plete victory for the Governor's opponents, except on a
minor point of interpretation of the Act of Feb.
23 1912,
which provides for the
refunding of the Redemption Brown
Consols.
As the
new
bonds
are
Lawrence County (P. O.
Deadwood), So. Dak.—Bond
made on Nov. l,upon presentation
at the Fourth Nat. Bank of N. Y. or
at the Co. Treas.
office,
of 5% bonds of the issue of
July 1 1899, Nos.
to bear interest at the rate
4%, and internal strife in the Sinking Fund Commission
continues, it is thought unlikely that the bonds will be sold
Call.—Payment will be
future.
near
In
disposing of the numerous objections made to the val¬
idity of the outstanding Redemption Brown Consols, amount¬
ing in the aggregate to approximately $5,000,000, the Court
lays down the following principles:
Spokane, Wash.—Bond Call.-—The following bonds
City Treas.:
;
TO BE
Name.
papers
3d Ave.
Messrs.
sel for the
far
instituted upon their advice.
Springfield,
state
that
on
an
election
Form
be
of having the bonds
29th Ave..
2
9
Ave..
Gordon Ave
120
1
194
27
Boone
22-29 incl
40-44 incl
18th Ave
16-21 incl
4
21-22
107
6th Ave
12-15 incl
3
14-18 Incl
650
......
-
9
.397
Sewer.
Fifth Ward
McClellan St
4-5
12-16 incl
10-11
452
7
4
59-60
3d Ave
No.
_415
436
Bonds.
Name.
Dist.
Sewer.
7
Alley..
9
Cotta Avenue
1st Ward
5th Ward—
Grade.
37
9
581
667
12-18
_—603
.644
14th Avenue
1st Avenue
12th Avenue.:
13th Avenpe
4-6
incl
4
2
Street
10
Avenue
No.' Bonds.
6-11
101-333 incl
8
585
698
incl
6&7
42&43
6&7
7-9
incl
-.630
5-7
inci
700
3
681
incl
.
42-53
13-16
'
5
-
12th Avenue.^
2
612
647
incl
857
686
7 th Avenue.L
16th Avenue
13th Avenue
5&6
2-4
422
Walton
Sharp
14-18
696
460
Post Street.
7th Avenue
incl
5 &6
Greene Street
Hollis Avenue
683
Hatch Street
947
Indiana Avenue—454
„
iricl
incl
19
6
8th, 9th & Maple..614
Monroe Street....245
Sprague Avenue.
76
6th Avenue
___702
6th Avenue703
_
10-12
100-109
23-26
7-13
2&3
incl
incl
incl
incl
6&7
Bond Proposals and Negotiations this week
as follows:
have been
ABERDEEN, Chehalis County, Wash.—BOND ELECTION PRO¬
POSED.-—According to reports, an election will be held this fall to submit
to the voters the question of
issuing water-system bonds.
ADAMS, Jefferson County, N. Y.—BOND SALE—On
Sept. 22 the
16%-year (aver.) reg. water-works-impt. bonds (V. 97, p. 829)
$5,000
were
awarded to Amelia Goss of Adams at 100.5 and int. for 5s.
Spitzer,
Rorick & Co. of N. Y. bid 100.12
for 5s. Adams & Co. of N. Y. bid par
5s."
for
,
ADAMS
COUNTY
(P. O. Decatur), Ind.—BONDS NOT SOLD.—
received On Sept. 22 for the $2,400 4H%
5>4-yr. (av.) A. S.
Keller road bonds offered on that
day (V. 97, p. 829b
refunding/onds
of the Village of Winton Place, annexed to
Cincinnati, each $400, Nos. 1 to 7,
incl., dated Mar. 15 1898, payable Mar. 15 1918, redeemable
or
at any
time thereafter.
On Nov. 1, thirty electric-light bonds of the
Village of
Madison ville, annexed to
Cincinnati, each $500, Nos. 1 to
30, inch, dated Nov. 1 1893, payable Nov. 1
1923, redeema¬
ble Nov. 11913.
Colo.—Bond
called for payment
Call.—The
following
bonds
are
Sept. 30:
Storm Sewer Bonds.
Sub. Dist. No. 4 of the Capitol Hill Storm
Sewer Dist. No. 1—Bond No.6
SuU Dist. No. 2 of the North
Denver Storm Sewer Dist.
Np. 1—Bond
Sub. Dist. No. 6 of the North Denver
Storm Sewer Dist. No. 1—Bond
8.
No.
South Capitol Hill Storm Sewer
Dist.—Bond No. 61.
Washington Park Storm Sewer Dist.—Bonds Nos. 120 to 122
inclusive.
West Denver Storm Sewer Dist. No. 1—Bond
No. 57.
Sanitary Sewer Bonds.
Sub. Dist. No. 2 of the East Side
Sanitary Sewer Dist. No. 1—Bond
Nos. 26 to 37 inclusive.
Part of Sub. Dist. No. 6 of the East
Side Sanitary Sewer Dist. No. 1—
Bond No. 5.
Harman Special Sanitary Sewer Dist. No.
1—Bond No. 43.
Part "A" of Sub. Dist. No. 3 West and
South Side Sanitary Sewer Dist—
Bonds Nos. 1 to 34 inclusive.
Part "A" of Sub. Dist. No. 16 West and
South Side Sanitary Sewer
Disc.—Bonds Nos. 1 to 4 inclusive.
Improvement Bonds.
Arlington Park Improvement Dist.—Bonds Nos. 55 to 57
inclusive.
Capitol Hill Improvement Dist. No. 7—Bond No. 5.
Cherry Creek Improvement Dist. No. 3—Bonds Nos. 6 to
35 inclusive.
East Denver Improvement Dist.
No. 5—Bonds Nos. 63 to 65 inclusive.
East Denver Improvement Dist.
No. 6—Bond No. 14.
East Side Improvement Dist. No.
2—Bond No. 70.
East Side Improvement Dist. No.
3—Bond No. 5.
'
Evans Improvement Dist.—Bond No. 82.
North Side Improvement Dist. No.
2—Bonds Nos. 43 to 52 inclusive.
North Side Improvement Dist.
No. 4—Bond No. 64.
North Side Improvement Dist.
No. 13—Bonds Nos. 36 and 37.
,
Ohio.>—BONDS
SOLD
OVER
COUNTER.—We
that the $53,250 53^%
N. Y., or the Fifth-Third Nat.
Bank, Cincinnati:
On Sept. 15, seven
Mar. 15 1913
were
AKRON,
Bond Calls and Redemptions.
Cincinnati, Ohio.—Bond Calls.—The following bonds are
called for payment at the American
Exchange Nat. Bank,
.
Dist.
Cotta Avenue
15th Avenue
No bids
Denver,
....546
642
Glass Avenue
3d Avepue
of
settlement was to be made between the
bondholders and the
residents of the county.
Payments agreed upon have not
been made, according to Mark Hubbert and
other bondhold¬
ers, who, through mandamus
proceedings, will seek to force
the collection of taxes for the
24-37 incl
12
No. Bons'
Ave
TO BE PAID ON OCTOBER 1.
held
Taylor County, Ky.—Mandamus Writ Re-instated.—-The
"Courier-Journal" says that Judge Evans on
Sept. 18 re-instated the mandamus writ which was issued
some time
ago in the Taylor County bond case, and which had
been suspended pending an
agreement by which an amicable
Augusta
Walk.
Louisville
redeemed.
639
Name.
Oct. 7 to submit to a vote the
question of establishing a
commission form of government.4
purpose
604
607
Npvada Street
will
Dist.
Walk.
5-11 incl
36-40 incl
15-22 incl
Milford Place
416
446
19th Ave
as
Commission
560
36th Ave
Before the instituiton of the
Mo.-—Election''
_•
Jefferson St
Latawah St
suit, they rendered an opinion to the effect that the new bonds
would be held valid, and this
opinion has been sustained.
Government.—Reports
184
.*
Bernard St
Falls Ave
Garland Ave
reported cases show.
Hawkins, Delafield & Longfellow acted as coun¬
Sinking Fund Commission in this suit, which was
so
15.
Name.
Grade.
within the meaning of these
previous decision anywhere,
..790
9th Ave
so that the State is estopped to
deny recitals on the
face of such stocks in the hands of bona fide
holders.
This
is a point which seems never to
have been passed,upon in
any
ON SEPTEMBER
Dist No. Bonds.
4th Ave.
From the opinion of the Court and the
record, it appears
that registered s.tocks of the
State, not transferrable by de¬
negotiable
PAID
Paving.
Holders of such paper, in the absence of
allegations to the contrary, are
presumed to be innocent purchasers thereof for
value, before maturity,
and without notice of
any objection to which it may be liable.
When
authority to issue such paper exists, neither irregularities nor
frauds on the
part of the officers or agents of the State who are entrusted
with the exercise of such
authority will affect it in the hands of such holders.
The State is estopped to
deny recitals on the face of such paper in the
hands of such holders.
are
are
called for payment at the office of the
'
livery,
5, 20, 22, 26,
58, 62, 69 and 70 for $1,000 each.
The liability of the State
upon negotiable paper issued by competent
authority is the same as that which attaches to
private individuals under
like circumstances.
rules,
"
:
1.
Upon the request of the holders of any of the above
bonds received ten
days before the expiration of this call, the Treasurer will
arrange for their
payment at the Bankers' Trust Co., New York
City, but not otherwise.
of
in the
xcvii
North
North
North
South
South
South
of State Debt.—Test Suit De¬
rel
Hay vs. Blease and others,
involving the validity of the entire Redemption Brown Consol. debt of South
Carolina, and the bonds to be issued for the
purpose of refunding it, was decided
Sept.. 8.
This suit was
brought in the Supreme Court of South Carolina on Jan. 6
("Chronicle" Jan. 11 1913, page 149) by a
taxpayer against
the Sinking Fund
Commission, composed of the Governor,
ex
[Vol.
.
<
,
are
advised
1-10-year (ser.) street-impt. bonds offered without
Aug. 20 (V. 97, p. 542) have been disposed of over the counter.
AKRON CITY SCHOOL DISTRICT
(P. O. Akron), Summit County*
Ohio.—BOND OFFERING.—Proposals will be received until 2
success on
<
p.
m-
Oct. 1 by J. F. Barnhart, Clerk, for
$25,000 4^ % school bonds.
Denom.
$1,000.
Date Oct. 1 1913.
Int. A. & O. at office of Treasurer of Board
of Education., Due $5,000 in 1936 and
$20,000 in 1937.
ALAMEDA, Cal.—BONDS PROPOSED —This city is contemplating the
issuance
of $69,000 street bonds.
nothing definite has been decided
The Clerk
upon
in
advises
this
us,
however,
that
matter.
ALBANY, Dougherty County,
Ga.—BOND
OFFERING.—Proposals
will be received until 12 m. Oct. 1
by Y.. C. Rust, Clerk of Council, for
thei $100,000 5% 30-year gold bonds voted
July 24 (V. 97, p. 310). Denom.
$1,000.
Interest semi-annual.
Certified check for $1,000 required. Bonds
may be registered at option of purchaser.
These bonds were confirmed
and validated by the County Superior Court on
Sept. 13 1913.
ALBANY, N. Y.—BOND OFFERING.—Reports state that
proposals
will be received until 11 a. m. Oct. 15
by J. M. Fall, City Comptroller, for
the following 4 M % bonds:
$200,000 river-front-impt. bonds.
Due serially until 1963.
i
"120,000 general re-surfacing bonds.
Due $8,000 yearly.
100,000 school No. 14 building bonds.- Due in 20 annual installments.
90,000 Washington Ave. impt. bonds.
Due in 20 annual installments.
90,000 New Scotland Ave. impt. bonds.
Due in 20 annual installments.
60,000
30,000
20,000
20,000
8,000
high-school-equipment bonds.
Due in 20 annual installments.
Delaware Ave. and Whitehall Road bonds.
Due in 15 ann. install
Broadway impt. bonds.
Due in 20 annual installemtns.
fire-alarm wires bonds.
Due in 10 ann. installments.
school No. 19 site-purchase bonds.
Due in 8 annual installments.
Denom. $1,000.
Int. A. & O.
All bonds are reg.
except the $200,000
issue, which is in coupon form, but may be
registered upon request of holder.
ASHLAND COUNTY (P. O. Ashland), Ohio.—BOND
OFFERING.—
Proposals will be received until 12 m. Oct. 16 by the County Commissioners,
L. Westover, Clerk, for $55,000
5% Ashland and Olivesburg road-im-,
provement State Highway "G" (county's portion) bonds.
Auth. Sec.
1223, Gen. Code.
Denom. $1,000.
Date Oct. 1 1913.
Int. A. & O.
Due $4,000 on'Apr. 1 1915 and $3,000 each six months
from Oct. 1 1915 to
Oct. 1 1923 incl.
Cert, check for $500, payable at
sight to J. F.-Welty,
County Aud., required.
Bonds to be delivered and paid for within 10
days from time of award.
Purchaser to pay accrued interest.
A like
amount of bonds was
Co. of Cincinnati
as
reported sold to the Provident Savs. Bank & Trust
5Hs on Sept. 8 (V. 97, p. 754).
ALLEN TOWNSHIP (P. O. Van
Buren), Hancock County, Ohio.—
BOND ELECTION PROPOSED.—The
question of issuing $15,000 school-
bldg. bonds will be submitted to
state.
a
vote at the November election,
reports
ALLIGATOR TOWNSHIP, Chesterfield
County, So. Car.—BONDS
VOTED.—By a vote of 57 to 56, the question of
issuing $40,000 road-impt.
bonds carried, it is reported, at the election held
Sept. 16.
ALPENA, Alpena County, Mich.—NO BOND ELECTION.—We are
that the proposition to issue the
$50,000 sewer-system bonds
(V. 97, p. 542) was not submitted to a vote on Sept. 17.
advised
Sept. 27 1913.J
CONSOLIDATED SCHOOL DISTRICT
AMAZON SURAL
903
CHRONICLE
THE
O.
(P.
Bonds to be delivered and paid for within 10 days from time
required.
Purchaser to pay accrued interest.
of
1
Waynesboro),
award.
trict is
Belmont), San Mateo
County, Cal.—BONDS DEFEATED.—The proposition to issue $7,000
5 >3 % bldg. bonds was defeated at the election held Sept. 16.
Wayne County, Miss.—BOND OFFERING.—'This dis¬
offering for sale $2,000 6% 10-20-yr. (opt.) bldg. & equip, bonds.
Denom. $500.
Date Sept. 1 1913.
Int. ann. on Sept. 1.
Cert, check
for $50, payable to the Dist. Treas., required.
These bonds are part of
an issue of $2,500, of which $500
(not $1,500 as reported in last week's
"Chronicle") has already been disposed of.
Will C. Dyess is Co. Treas.
County,
Anderson
ANDERSON,
PROPOSED.—We
are
So.
proposition to issue the $75,000 5%
will probably be submitted to a vote
APPALACHIA, Wise County, Va .—BONDS OFFERED BY BANKERS.
Co. of Chicago are offering to investors the $21,000 5%30-yr.
or reg. sewer bonds offered on July 1 (V. 96, p. 1784).
Denom.
$1,000.
Date July 1 1913.
Int. ann. on July 1 at the City Treas. office
or at the Central Trust Co. of Illinois, Chicago.
Total debt, this issue.
Assess, val., $432,465;lest, real value, $1,100,000.
BLECKLEY COUNTY (P. O. Cochran),
Ga.—BOND OFFERING.—
Proposals will be received until Oct. 21 (not Sept. 21, as first reported) for
$45,000 court-house, $12,000 jail and $8,000 road-machinery 5% bonds
voted July 19 (V. 97, p. 829).
The bonds were validated by the Superior
Court on Sept. 1.
Date Oct. 1 1913.
Int. A. & O.
Due in 30 yrs.,
subject to call $3,000 yrly. after 10 yrs.
No indebtedness.
Assess, val.,
$2,000,000; actual value, $6,000,000.
*
ARGENTA IMPROVEMENT DISTRICTS, Pulaski County, Ark.—
BOND OFFERING.—Further details are at hand relative to the offering
bonds (V. 97, p. 829):
Denom. $500.
BEVERLY, Essex County, Mass .—TEMPORARY LOAN—A loan of
$50,000 due April 2 1914 has been negotiated, it is reported, with Estabrook & Co. of Boston at 4.61% discount.
coup,
coupon
SCHOOL DISTRICT, Posey County, Ind.—
8-year (average) school bonds
Cincinnati at par
Date Aug. 5 1913.
Int. F. & A.
SALE.—An issue of $12,500 4H %
and int.
—Ulern &
following
O.
awarded on Aug. 17 to Breed, Elliott & Harrison of
was
Oct. 6 of the
(P.
County, Mich.—BONDS DEFEATED.—The
and street-improvement
BETHEL TOWNSHIP
BOND
within 30 days.
on
Gogebic
BESSEMER,
advised that the
street-paving bonds (V. 97, p. 542)
DISTRICT
roposition to issue $50,000 water-works, sewer
pre
bo:nds was defeated at the election held Sept. 17.
ELECTION
Caro.—BOND
SCHOOL
BELMONT
the
;•
$82,000 District No. 15 bonds.
Due $4,500 in 1 year, $7,500 in 2 years,
$8,000 in 3 years, $8,500 in 4 years, $9,000 in 5 years, $9,500 in
6 years, $10,000 in 7 years, $10,500 in 8 years, $7,000 in 9 years
and $7,500 in 10 years.
7,400 District No. 16 bonds.
Due $4,000 in 1 year, $6,500 in 2 years,
$7,500 in 3 and 4 years, $8,000 in 5 years, $8,500 in 6 years, $9,000
in 7 years, $9,500 in 8 years, $6,500 in 9 years and $7,000 in lOyrs.
Proposals for these bonds will be received until 7 p. m. on that day by
J. Matthews, Secy. (P. O. Little Rock).
Bids are requested at 5, 5and
6% int.
Denom. $500 or $1,000, as purchaser desires.
Date to suit
purchaser.
Interest semi-annual.
Official circular states that no improve¬
ment district of Argenta has ever defaulted in the payment of any bonds
.
BLOOMFIELD, Hartford County, Conn .—NOTE SALE.—The Aetna
of Hartford recently purchased the $35,000 5% 20-year
note authorized at the election held Sept. 16.
Life Insurance Co.
BLOOMINGTON, McLean County, 111.—NO BONDS TO BE ISSUED.
the $9,000 drainage and sewerage-system bonds re¬
this city on Aug. 2 (V. 97, p. 464) will not be issued.
—We are advised that
ported voted by
ASOTIN COUNTY (P. O. Asotin), Wash.—BOND ELECTION:—Ac¬
cording to reports, an election will be held Nov. 10 to submit to a vote the
question of issuing bonds for $40,000 to purchase the Washington end of
the Lewiston-Clarkston bridge and $35,000 to improve the highway lead¬
(P. O. Bloomington), Mc¬
BE OFFERED SHORTLY.—Under date
the $250,000 high-school-constr. bonds
voted (V. 96, p. 1038) will shortly be offered for sale.
BLUE ISLAND, Cook County, 111.—BOND SALE.—We are advised
that the $30,000 judgment funding bonds offered without success on June 9
(V. 97, p. 464) have been sold to the Commercial Bank of Blue Island.
BONNER COUNTY (P. O. Sandpoint), Idaho.—BOND SALE.—On
Sept. 8 the $147,000 5^% 14H--year (average) coupon funding bonds
(V. 97, P. 607) were awarded to C. O. Ralman & Co. of St. Paul for $150,200
(102.176).
Denom. $1,000.
Date Oct. 1 1913. Int. J. & J.
BOONE COUNTY (P. O. Lebanon), Ind .—BONDS AWARDED IN
PART.—Of the three issues of 4)4% gravel-road bonds aggregating $15,320 offered without success on Aug. 11 (V. 97, p. 464), $8,920 has been
ing to the bridge.
disposed of.
BLOOMINGTON SCHOOL DISTRICT
Lean County, IU.—BONDS TO
of Sept. 22, we are advised that
the interest thereon.
or
ASBURY PARK. Monmouth County,
N. J.—OPTION TO PUR¬
CHASE CERTIFICATES.—The City Clerk advises us under date of Sept20 that to date no sale has been made of the $121,773 54 6% 3-year (aver.)
Kingslev St. impt. assess, certificates offered without success on Aug.
11 (V. 97, p. 464), but that an option has been given subject to certain con¬
ditions.
He further states that in case the conditions are not carried out,
coup.
the certificates will be re-offered.
year
coup,
refunding
Nov. 1 1913.
bonds
(V.
p.
754).
Denom.
Int. M. & N. at office of Collector and Treas.
Exchango Nat. Bank, N. Y.
interest..
97,
Cert, check
Bonds may be registered
State
on a
or
$1,000.
or at
as to
Date
blank forms furnished by the city.
an
voters the
tify
as to
The
school
Department.
for $500,
AURORA, ST. Louis County, Minn»—BONDS DEFEATED.—The
question of issuing $20,000 street-impt. bonds was defeated, it is stated, at
the election held Sept. 8 by a vote of 70 "for" to 92 "against."
County,
the elec¬
held to vote on the question of issuing the
$20,000 bldg. and equip, bonds (V. 97, p. 465) has been indefinitely post¬
poned.
•
CARBON CLIFF SCHOOL DISTRICT (P. O. Carbon Cliff), Rock
Island County, 111.—BONDS VOTED.—Reports state that a favorable
vote was cast at the election held Sept. 13 on the proposition to issue
$6,000 building bonds.
tion which was to have been
.
an
.
COUNTY
(P. O. Washington), No. Caro.—TEMPO¬
LOAN.—Reports state that a loan of $50,000 for bridge-construc¬
tion has been awarded to H. Jackson of Richmond, President of the
Virginia Trust Co., at 6% interest.
«
k
CARROLL
COUNTY (P. O. Delphi), Ind .—BOND OFFERING.*
ept.
Proposals will be received until 3p.m. Sept. 30, it is stated, by W. W. Lesh,
Co. Treas., for $3,200 4)4% 10-yr. 1
.
BEATRICE, Gage County, Neb.—BOND ELECTION PROPOSED.—
CARTERSVILLE,
According to reports,
an election will be held in the near future to vote on
question of issuing $35,000 Zimmerman Springs wells bonds.
Jasper
County,
Mo.—BOND
ELECTION PRO¬
POSED.—Reports state that an election will be held in the near future , to
vote On the question of re^-voting the $12,000 city-hall-bldg. bonds awarded
to the Little & Hays Inv. Co. of St. Louis on Aug. 21 (V. 97", p. 607), as
first election was illegal.
BEAUMONT, Jefferson County, Texas.—BOND ELECTION PRO¬
POSED.—According to local newspaper reports, an election will be held
in the near future to submit to a vote the question of issuing $500,000 municipal-water-works-eonstr. bonds.
Cuyahoga
13 (V. 97, p. 464).
CANEY SCHOOL DISTRICT (P. O. Caney), Montgomery
Kan.—BOND ELECTION POSTPONED.—We ire advised that
RARY
BEDFORD,
J .—BONDS NOT YET SOLD.
19 no sale had been made of the $60,000to $75,000 4%%
registered Newton Creek bridge-construction bonds offered with¬
out success on Aug.
issue of $6,000 5H% 2-10-year (aver.) electric-light bonds was awarded to
Geo. M. Bechtel & Co. of Davenport at par.
Denom. $500.
Date
the
17
highway bonds have been sold as follows:
$50,000 to county banks and $100,000 to
CAMDEN COUNTY (P. O. Camden), N.
coupon or
Washington County,
Kans.—BONDS DEFEATED.—*
The question of issuing the $15,000 water.works-constmction bonds (V. 97,
p. 754) was defeated at the election held Sept. 22.
'
payable to Twp. Trustee, required.
—Up to Sept.
BARNES,
Int. A. & O.
Miami County, Ind.—BOND OFFERING.—
CALIFORNIA.—BOND SALE.—San Francisco papers dated Sept.
BAKER, Baker County, Ore.—BOND OFFERING.—Additional in¬
14 of the $25,000 5%
20-year gold tax-free electric-light-plant bonds (V. 97, p. 829).
Proposals
for these bonds will be received until 12 m. on that day by J. Cunning, City
Clerk.
Denom. $500.
Date Dec. 1 1913.
Inf. J. & D. at office of
Commissioner of Finance, Baker.
Cert, check for 5% of amount of bid,
payable to C. L. Palmer, Commissioner of Finance, required.
BEAUFORT
•
.,
report that $250,000 4% State
$100,000 to Monterey County,
E. G. Lewis of Atascadero.
formation is at hand relative to the offering on Oct.
Oct. 1 1913.
Mateo
Proposals will be received until 12 m. Oct. 15 by M. Jackson, Twp. Trus¬
tee (P. O. Peru
RR. No. 11) for $10,000 4\i% school-bldg. bonds.
De¬
nom. $1,000.
Date Sept. 1 1913.
Int. J. & J. at Citizens' Nat. Bank,
Peru.
£>ue $1,000 yrly. on Sept. 1 from 1914 to 1923 incl. Cert, check
official notice of this bond offering will be found among the advertise¬
BAYARD, Guthrie County, Iowa.—BOND SALE.—On Sept. 11
purposes.
BUTLER TOWNSHIP,
cer¬
the genuineness of the bonds.
ments elsewhere in this
(P. O. Cleveland), Cuyahoga County, O.
election will be held Nov. 4 to submit to the
question of issuing $8,500 water-supply bonds.
BURLINGAME SCHOOL DISTRICT (P. O. Burlingame), San
The purchaser will be furnished with
The U. S. Mtge. & Trust Co. of N. Y. will
$2,000 6%
without success
County, Cal.—BOND ELECTION PROPOSED.—An election will be held
shortly, reports state, to vote on the question of issuing $20,000 bonds for
opinion by Storey, Thorndike, Palmer & Dodge of Boston favorable to
the legality of the bonds.
•
—BOND ELECTION —An
Bids must be made
on
'
BROOKLYN HEIGHTS
American
principal and
national bank for 2% of bonds bid for,
payable to the "City Council of Augusta," is required.
..
5-20-yr. (opt.) water-works-system-ext. bonds offered
on Aug. 1 have been sold to C. H. Bedient of Bradshaw.
Oct. 10 by Wm. L^ Martin, Clerk of Council, for $200,000 4 H % 30-
m.
■
BRADSHAW, York County, Neb.—BOND SALE.—The
AUGUSTA, Ga.—BOND OFFERING.—Proposals will be received until
12
.
Cowlitz
ROCK,
CASTLE
County,
Wash.—BOND
SALE.-^On
Sept. 9 the $6,000 15-20-year (opt.) general mimicipal bonds were awarded
to W. D. Perkins & Co. of Seattle at 100.125 for 6s.
Denom. $500.
Date
County,
Ohio.—BOND OFFERING.—Pro
Oct. 4 by C. C. Lowe, Vil. Clerk, fo
posals will be received until 12 m.
the following 5% coup, sewer (assess.) bonds:
$4,727 29 Powers Road bonds.
Denom. (1) $227 29, (9) $500.
Due
$227 29 Oct, 1 1914 and $500 yearly on Oct. 1 from 1915 to 1923
incl.
6,524 04 Button Road bonds.
Denom;. (1) $524 04,1 (12) $500.
Due
on Oct. 1 as follows: $524 04 in 1914, $500 iri 1915, 1916, 1918,
1919, 1921 and 1922 and $1,000 in 1917, 1920 and 1923.
5,454 05 Glendale Ave. bonds.
Denom. (1) $454 05, (10) $500. /Due
$454 05 Oct. 1 1914, $500 yearly on Oct. 1 from 1915 to 1922 incl.
and $1,000 Oct. 1 1923.
7.057 49 Willis St. bonds.
Denom. (1) $557 49, (13) $500.
Due on
Oct. 1 as follows: $557 49 in 1914, $500 in 1915, 1917, 1918, 1920
and 1922 and $1,000 in 1916, 1919, 1921 and 1923.'
1,731 82 Monroe St. bonds.
Denom.
(1)
$231 82,
(3)
$500.
Due
$231 82 Oct. 1 1915 and $500 on Oct. 1 1918. 1921 and 1923.
16,098 64 Main St. bonds. Denom. (1) $598 64, (31) $500.
Due on Oct. 1
as follows: $1,598 64 in 1914, $1,500 yearly from 1915 to 1918
incl. and from 1920 to 1922 incl. and $2,000 in 1919 and 1923.
5,169 43 North St. bonds.
Denom. (1) $169 43, (10) $500.
Due $169 43
Oct. 1 1914, $500 yearly on Oct. 1 from 1915 to 1922incl.,and
Sept. 9 1913.
Interest semi-annual.
Middlesex
CHELMSFORD WATER DISTRICT (P. O. Chelmsford),
County, Mass .—BOND SALE—On Sept. 19 the $60,000 4H% 1-30-year
(serialk water district bonds (V. 97, p. 754) were awarded to Parkinson A
Burr of Boston at 103.288.
Denom. $1,000.
Date Sept. 11913.
Int.
M.
&
S.
'
••
.
.
CHILLICOTHE SCHOOL DISTRICT (P. O.
ton
CINCINNATI, Ohio.—BONDS AUTHORIZED.—Local papers state
on Sept. 23 the City Council authorized the issuance of $1,997,000
bonds.
CLINTON COUNTY
.
COATESVILLE, Chester County, Pa.—NO ACTION YET TAKEN.
are advised that no action has yet been taken looking towards the
of the $185,000 30-year water-system-installation bonds voted
Aug. 12 (V. 97, p. 465).
—We
$1,000 Oct. 1 1923.
issuance
2,289 35 Grace St. bonds.
Denom. (4) $500, (1) $289 35.
Due $289 35
Oct. 1 1915 and $500 on Oct. 1 1917. 1919, 1921 and 1923.
600 51 White St. bonds.
Denom. (1) $500, (1) $100 51.
Due $100 51
COLORADO SPRINGS, El Paso County, Colo.—BOND OFFERING.
—Proposals will be received until Oct. 1, it is stated, by F. A. Bartholomew,
City Treas., for the $110,000 city-hall refunding and $100,000 water-works
refunding 4% 10-15-yr. (opt.) bonds (V. 97, p. 755).
1
1915 and $500 Oct. 1 1923.
777 11 Palmetto Ave. bonds.
Denom. (1) $277 11,
$277 11 Oct. 1 1917 and $500 on Oct. 1 1923.
463 42 No. Park St. bond.
Due Oct. 1 1923.
680 00 Franklin St.. bonds.
Denom. (1)
Oct. 1 1916 and $500 Oct. 1 1923.
$180,
(1)
(1)
$500.
$500.
Due
COLUMBIA COUNTY (P. O. St. Helen), Ore.—BOND ELECTION
PROPOSED.—According to newspaper statements, petitions are being
circulated calling for an election to vote on the question of issuing Colum¬
bia River highway bonds.
•
Due $180
4,874 10 Columbus
St. bonds.
Denom. (1) $374 10, (9) $500.
Due
$374 10 Oct. 1 1914 and $500 yearly on Oct. 1 from 1915 to 19Bi
incl.
COLUMBUS,
1923.
1,151 79 Adams St. bonds.
Denom. (1) $151 79, (2) $500.
Due $151 79
Oct. 1 1915 and $500 on Oct. 1 1919 and 1923.
2,693 74 Cross St. bonds.
Denom. (1) $193 74, (5) $500.
Due $193 74
Oct. 1 1914 and $500 on Oct. 1 1916, 1918, 1920,1922 and 1923.
4,156 32 Washington St. bonds.
Denom. (1) $156 32, (8) $500.
Due
on Oct. 1 as follows:
$156 32 in 1914, $500 in 1915, 1916 and 1917
1,951 00 Ash
Spitzer, Rorick & Co., Toledo—Par, less $1,350 for expenses.
Farson, Son & Co.,
Oct. 1
bonds.
Denom.
1916 and $500
on
$451, " (3) $500.
Due
Oct. 1 1918, 1921 and 1923.
(1)
$451
on
1,291 51 Magnolia Ave. bonds.
Denom. (1) $29151, (2) $500.
Due
$291 51 on Oct. 1 1916 and $500 on Oct. 1 1920 and 1923.
Auth. Sec. 3914, Gen. Code.
Int. A. & O. at Cleveland Trust Co.,
Bedford.
Cert, check for 10% of bonds bid for, payable to Vil. Treas.,
Chicago—$40,011, less $1,400 for expenses.
$10,000.
John Blackmar of Columbus—100.12 for
$500yearly from 1919,to 1923 incl.
St.
Ga.—BIDS.—The other bids received for the$40,000
5% 5 H-year (average) gold additional lower bridge bonds awarded on
Sept. 18 to Robinson-Humphrey-Wardlaw Co. of Atlanta at par less $170
for legal expenses (V. 97, p. 829), were:
New York Life Insurance Co., New York—$39,606.
J. H. Hilsman & Co., of Atlanta—$39,411.
Hoehler & Cummings of Toledo—$40,010, less $690 for expenses.
Townsend Scott & Son of Baltimore—$39,124.
2,759 19 Dunham Ave. bonds.
Denom. (1) $259 19, (5) $500.
Due
$259 19 Oct. 1 1914 and $500 on Oct. 1 1916, 1918, 1920, 1922
and
(?. O. Frankfort), Ind.—BOND OFFERING.—
Proposals will be received until 10 a. m. Oct. 1, it is reported, by E. M. Cald¬
well, County Treasurer, for $2,160, $13,600, $6,880, $15,440, $6,960 and
$2,000 4M % 10-year highway-improvement bonds.
.
and
Chillicothe), Livings¬
Mo.—BONDS DEFEATED—The election held Sept. 17
$20,000 school-impt- bonds.
that
•
Oct.
County,
resulted in the defeat of the proposition to issue
COUNTY (P. O. Comanche), Tex.—BONDS PRO¬
POSED.—This, county is contemplating the issuance of $50,000 road bonds.
COMANCHE
Putnam County, Ohio.—BONDS DEFEATED.—
that the question of issuing $12,000 water¬
defeated at a recent election.
CONTINENTAL,
i
Local newspaper reports state
works impt. bonds was
L
.
,
■
904
THE
COLUMBUS, Ohio.—BOND SALE.—The following bids
CHRONICLE
EAST SIDE LEVEE AND SANITARY DISTRICT
(P.
received
were
for the ten issues of 4% tax-free
sinking fund bonds, aggregating $820,000,
offered
Sept. 19 (V. 97,
on
p.
$200,000 $200,000 $200,000 $43,000 $58,000
(Item 1.) (Item 2.) (Item 3.) (Item4.) (Item 5.)
vles-Bertram Co. and Stacy
&
Braun, all of Cincinnati
Estabrook & Co. and R. L. Day &,
Elliott
185,360
39,564
184,262
186,400
39,328
53,627
190,020
190,040
EL
._
40,544
47,550
17,038
17,038
15,225
17,026
17,206
16,961
17,036
15,212
*15,454
15,144
755).
17,206
16,961
Wash, in N.
16,364
16,020
*16,415
bid
Sept. 9 (V. 97,
p.
543).
ELMIRA, Chemung County, N. Y.—BONDS NOT YET SOLD.—
We are advised by the City Clerk under date of
Sept. 19 that no steps have
been taken looking toward the sale of the $65,000 (unsold
portion of an issue
of $200,000) 4)4 % 1-20-yr. (ser.) bonds offered without success on
(V. 97,
.
,
at
an
elec¬
f.
CROSBY COUNTY (P. O. Croshyton), Tex.—BOND OFFERING.—
Additional information is at hand relative to the
offering of the $40,000
5% 10-40-yr. (opt.) court-house and jail bonds (V. 97, p. 679).
Proposals
for these bonds will be received by P. L. Parrish,
Co.«Judge.
Denom.
$1,000.
Date April 10 1913.
Int. ann. on April 10.
Cleveland), Ohio.—BOND
OFFER¬
INGS.—Proposals will
be received until 11 a. m. Oct. 15 by J. F. Goldenbogen, Clerk of Bd. of Co. Commrs., for $50,000 5%
coup, bonds.
Auth.
Sees. 2434, 2435 and 2438 Gen. Code, and an election held Nov.
5
1901.
Denom. $1,000. Date Oct. 1 1913. Int. A.& O. at office of Co. Treas.
Due
$10,000 yrly. on April 1 from 1918 to 1922 incl.
An unconditional cert,
check for 1% of bonds bid for,
payable to Co. Treas., required.
Bids
must be unconditional and upon forms furnished
by said Board.
Proposals will also be received until 11 a. m. Oct. 22 by the Bd. of Co.
Commrs., J. F. Goldenbogen, Clerk, for $57,164 5%
coup. Richmond Road
No. 7 (county's share) bonds.
Denom. (1) $164, (57) $1,000.' Date
1913.
Int. A. & O. at office of Co. Treas.
Due $164 on April 1
1915, $2,000 Oct. 1 1915, $3,000 each six months from
April 1 1916 to
April 1 1920 incl. and $4,000 each six months from Oct. 1 1920 to Oct. 1
An unconditional cert, check
on
a
bank other than
the
one
bidding, for 1% of bonds bid for, payable to County Treasurer, required.
Bonds to be delivered and
paid for within 10 days from time of award.
Purchaser to pay accrued interest.
DANSVILLE, Livingston County, N. Y.—BOND SALE.—The $43,400 5% paving bonds offered without success on
Aug. 1 (V. 97, p. 467) were
awarded on Aug. 19 to Douglas Fenwick & Co. of N. Y. for $43,405
(100.011) and int.
Denom. $2,170.
Date Dec. 1 1912.
Int. J. & D.
Due $2,170 yrly. Dec. 1 from 1914 to 1933 incl.
DARKE COUNTY (P. O. Greenville), Ohio.—BOND
SALE.—On
Sept. 25 the $60,000 5% 4)4-year (aver.) refunding road bonds
(V. 97, p.
680) were awarded, despatches state, to Breed, Elliott & Harrison of Cin¬
cinnati for $60,040 (100.066),
DAVIS. Turner County, So. Dak.—BOND ELECTION
—An election
Sept. 30 to submit to a vote the question of Issuing $7,500 5%
will be held
•
DEARBORN COUNTY (P. O. Lawrenceburg), Ind.—BOND OFFER¬
ING.—Reports state that proposals will be received until 10 a. m. Sept. 29
by A. Burke, County Treasurer, for an issue of $40,000 4)4%
highwayimprovement bonds.
Aug. 11
465).
favorable vote
at the election held
cast
was
Sept. 16
on
state that
the question of
issuing $4,000 electric-light bonds.
ELSBERRY DRAINAGE DISTRICT, Lincoln and Pike
Counties,
Mo —DESCRIPTION OF BONDS.—The $300,000 (not
$325,000, as first
v.
Reports state that this county authorized the issuance of bonds
water-works bonds.
a
Auth-
-
p.
ELMO, Nodaway County, Mo.—BONDS VOTED.—Reports
Int. rate to
CORBIN, Whitely County, Ky.—BONDS OFFERED BY BANKERS.
—Ulen & Co. of Chicago are offering to investors $10,000 of an issue of
$40,000 5% water-works bonds.
Denom. $500.
Date July 1 1913.
Int.
J. & J. at the Whitely Nat. Bank of Corbin.
Due on or before July 1 1933.
Total debt $40,000; assess, yal., $840,674; real Val.
(est.), $1,500,000.
COVINGTON SCHOOL DISTRICT (P. O. Covington), Kenton
County,.Ky.—BOND ELECTION PROPOSED.—Newspaper dispatches
state that an election will be held in the near future to submit to a vote the
question of issuing $150,000 high-school-constr. bonds.
CRENSHAW. COUNTY (P. O. Luverne), Ala.—BONDS VOTED.—
1923 incl.
(rate not to exceed 6%)
interest.
RAPIDS, Carroll County, Iowa.—BOND OFFERING.—This
COOS COUNTY (P. O. Coquille), Ore.—BOND ELECTION PRO¬
POSED.—We are advised that an election will probably be held in Novem¬
ber to submit to the voters the
question of issuing good roads bonds.
Oct. 1
Int.
ELLIOTT SCHOOL DISTRICT NO. 32. Lee County, So. Caro.—
OFFERING.—Proposals will be received by McLeod & Dennis,
Bishopville, for $7,000 20-year bonds.
Bids are requested at 5, 5)4 and 6%
of 93.891 and int. for all issues
town is offering for sale $3,500 10-20-yr.
(opt.) water-works bonds.
O.
1 1913.
City Trc8(S»} roQuirod«
All bidders agreed to pay accrued interest in addition to bids.
(P.
Date Sept.
City Treas. or at office of fiscal agency of the State of
City.
Cert, check for 2% of bonds bid for, payable to
Y.
BOND
of N. Y. also submitted a
COUNTY
Denom. $500.
M. & S. at office of
BIDS.—The other bids received for the $8,500 5% 5-yr. motor-driven
police-apparatus awarded on Sept. 15 to Breed, Elliott & Harrison of
Cincinnati at 100.76 (V. 97,
p. 829) were:
Stacy & Braun, Cincinnati.$8,556 951 Curtis & Sanger, Boston--$8,512 75
Hayden, Miller & Co., Cle. 8,517 501
All bidders offered accrued interest in'addition to their bids.
CUYAHOGA
1915
Floating debt $1,000.
Assess, val. 1913 $575,000,
ELLENSBURG, Kittitas County, Wash.—BOND OFFERING.—Pro¬
posals will be received until 7:30 p. m, Oct. 20 by F. T. Hofmann, City
Clerk, for the $20,000 20-yr. coup, funding bonds voted Sept. 6 (V. 97,
p.
16,087
47,545
tion held Sept. 22.
1
Sept. 1 (not incl. this
issue), $13,500.
16,092
47,455
vote of 225 to 12 at the election held
be named in bid.
Oct.
ELKIN, Surry County, No. Caro.—DESCRIPTION OF BONDS.—The
Town Clerk under date of Sept. 5 advises us that the
$30,000 6% 40-yr. gold
water-works and sewerage bonds voted Aug. 19
(V. 97, p. 608) are in the
denomination of $1,000 ami are coupon in form.
Date Sept. 1 1913.'
Int.
M. & S. at National City Bank, N. Y.
Bonded debt
*40,970
46,750
9f COON
on
an
190,120
47,310
Successful bids.
Due $1,000
/
ELGIN, Kane County, 111.—BOND ELECTION.—Reports state that
election will be held Oct. 22 to submit to a vote the
question of issuing
$162,000 municipal-electric-light-plant installation bonds.
54,810
54,572
$50,000
$18,000
$18,000 $16,000 $17,000
(Item 6.) (Item 7.) (Item 8.) (Item9) (ItemlO)
Seasongood & Mayer, Weil, Roth &
Co., Prov. Sav. & Trust Co., Da- *$48,056 *$17,302 *$17,302 $15,377 $16,337
vies-Bertram Co. and Stacy &
Braun, all of Cincinnati...
*
Co.,Elyria.
CAJON, San Diego County, Cal.—NO ACTION YET TAKEN.—
Concerning the reports that an election would be held on the
question of
issuing $50,000 water bonds, we are advised that no
action has yetbeen
_
183,230
Fifth-Third Nat. Bank, Cincinnati
Ohio Nat. Bank, Columbus.
County, Ohio.—BOND
^ierk, ior\®2,U(
and 1916.
40,000
"I".
•
Co., Boston...
j
Harris, Forbes & Co., New York
Field, Longstreth & Richards, Cleve.
Spitzer, Rorlck & Co., Toledo
vjroweu,
taken in the matter.
C. E. Denison & Co., Cleveland
Fifth-Third Nat. Bank, Cincinnati
Estabrook & Co. and R. L. Day &
ivi.
election held June 25.
Denom. \$20(
A. & O. at
Elyria Savs.&Bank
53,951
189,182
190,780
&
x».
Auth.
189,820
Walter
Due $75,000 Sept. 1 1914 and $25,000
Sept. 1 1915.
ofEATONTOWNSHIP (P. O. Elyria), Lorain
&
Harris, Forbes & Co.
Int. M. & S.
of Education,
Harrison, Mayer, Deppe
190,020
and Tillotson, Wolcott
Co., all of Cincinnati
Otis & Co., Cleveland
'.*192,600
Field, Longstreth & Richards, Cin
Spitzer, Rorlck & Co„ Toledo
&
O. East St.
_
1913.
$192,226*$192,226*$190,226 $40,902*155,163
190,120
Co., Boston
..j'
Harris, Forbes & Co., New York
189,502
Hayden, Miller & Co., Cleveland
191,140
Field, Longstreth & Richards, Breed,*
xcvn.
Louis). St. Clair County, 111.—BOND SALE.—On Sept. 17 the $100,000
6% lM-yr. (av.) sanitary bonds (V. 97,
p. 755) were awarded to Farson,
Son & Co. of Chicago at 100.583 and int.
Denom. $1,000.
Date Sept. 1
755):
Seasongood & Mayer, Well, Roth &
Co., Prov. Sav. & Trust Co., Da-
[Vol.
reported) 6% drainage-system bonds awarded on June 5 to Wm. R. Compton Co. and Little & Hayes Inv. Co. of St. Louis at
par (V. 96, p. 1717)
in the denoms. of $1,000 and $500 and bear date of Aug. 1 1913.
Int
A. & O. at the National Bank of Commerce, St. Louis.
Due on April 1
as follows:
$14,000, 1918; $11,000, 1920; $17,000, 1922; $19,000, 1924;
$22,000, 1926; $24,000, 1928; $27,000, 1930, and $16,000, 1932.
These
bonds are part of an issue of $350,000, of which $50,000 is
being reserved
for future contingencies.
are
.
EUSTIS, Lake County, Fla.—BONDS NOT YET SOLD.—We are
advised that no sale has yet been made of the $29,000
5% coupon sanitarysewerage-system-construction bonds mentioned in V. 97, p. 466.
'•
FERNANDINA, Nassau County, Fla.—BOND OFFERING.—Propos¬
als will be received until 10 a. m. Oct. 22 by G. L. Baltzell,
City Clerk, for
the $50,000 5%
30-year coupon municipal improvement bonds voted
Aug.
19
(V,
97,
p.
608).
Denom.
$1,000,
Date Oct.
Certified check for
A. & O. at office of City Treasurer.
S. Carrio, City Treasurer, required.
15
1913.
Int.
$500, payable to
These bonds have been validated by
a decree of the Circuit Court, Fourth Judicial
District, dated Sept. 15 1913.
FONDA, Pocahontas County, Iowa.—BOND SALE.—On Sept. 19
the $16,000 5%
coupon electric-light bonds (V. 97, p. 830) were awarded
to Geo. M. Bechtel & Co. of DaVenport at par less $600.
FONTANELLE,. Adair County, Iowa .—BOND ELECTION PRO¬
POSED.—Reports state that petitions are being circulated calling for an
election to submit to the voters the question of issuing $8,000 additional
water-works
bonds.
FORT LEE,
Bergen County, N. J.—BOND SALE.—On Sept. 3 thp
$44,000 (unsold portion of an issue of $149,000) 5% coup, funding bonds
(V. 97, p. 466) were purchased by the First Nat. Bank of Fort Lee at par
and int.
FORT SMITH,
Sebastian County, Ark.—BOND
OFFERING.—
According to reports, proposals will be received until Oct. 8 for an issue of
$750,000 paving refunding bonds.
FORT WAYNE, Allen County, Ind .—BOND
OFFERING.—Proposals
Oct. 6 by W. S. Cutshall, City Compt., for
$140,000 4)4% 20-year refunding bonds, series "D-"
Denom. $1,000.
Date Oct. 10 1913.
Int. A. & O. at office of U. S. Mtge. & Trust Co.,
will be received until 2 p. m.
N. Y.
Certified check for
These bonds will be certified
$2,000,
payable to City
Compt.,
required.
as to genuineness by the above trust
company
and their legality approved by H. C. Hogan of Fort Wayne, whose
opinion
is on file at the U. S. Mtge. & Trust Co., N. Y.
Bonds to be delivered
and paid for at above trust company on Oct. 13, unless a different date
shall be mutually agreed upon.
Purchaser to pay accrued interest.
Bids
on blank forms furnished by the city.
must be made
FRANKLIN,
Warren
County, Ohio —PURCHASER OF BONDS.—
flood-emergency bonds recently sold at
and int. (V. 97, p. 755) was Weil, Roth Sc Co. of Cin¬
cinnati.
Denom. $500.
Date July 1 1913.
Int. J. & J.
Due $1,000
yrly. from 1916 to 1925 incl.
..
n
The purchaser of the $12,000 5%
private sale at
par
FRANKLIN COUNTY (P. O. Columbus), Ohio.—BOND OFERING.
—Proposals will be received until 10 a. m. Oct. 6 by J. Scott, Clerk, Bd. of
Co.
Commrs.,
for $54,000
5%
bridge-constr. bonds.
Auth. Sees. 5643
Date Oct. 1 1913.
Int. A. & O.
1 from 1920 to 1924 incl. and $4,000
Oct. 1 1925.
Cert, check on a Franklin County nat. bank or trust co. (or
cash) for 1% of bonds bid for, payable to Bd. of Co. Commrs., required.
and 5644, Gen. Code.
Denom. $500.
at Co. Treas.
Due $10,000 yrly. Oct.
DECATtjR COUNTY (P. O. Greensburg), Ind.—BOND OFFERING.
—Proposals will be received until 2 p. m. Sept. 29 by I. L. Doles,
Treasurer,
it is stated, for $4,800 4)4 % 10-year
highway-improvement bonds.
POSED.—This .county contemplates issuing
DELAWARE COUNTY (P. O. Muncie), Ind.—BOND
OFFERING.—
Proposals will be received until 10 a. m. Sept'. 27 by G. L Haymond, Co.*
Treas., for $8,800 4)4% C. L. Friddle et al. gravel-road bonds.
bate
'
SALE.—On Sept. 15 the $5,000 6% 5-9-yr. (ser.) bldg. bonds were awarded
to the First Nat. Bank of Baraesville at 100.12.
Denom. $1,000., Date
Aug. 15 1913.
Int. M; & N.
FRANKLIN
COUNTY
(P. O. Mount Vernon).
FRUITVALE SCHOOL DISTRICT, Riverside
Aug. 27 1913.
Int. F. &
A.
Tex.—BONDS PRO¬
$75,000 road bonds.
County, Cal.— BOND
»
FULTON, Oswego County; N. Y.—^BOND SALE.—On Sept. 23 an
issue of $30,000 454 % stand-pine-coustruction bonds Was awarded to Doug¬
las Fenwick & Co. of N. Y. at 101.67.
Denom. $1,000.
Date Oct. 1 1913.
Int. A. & O.
Due $3,000 yearly.
Adams & Co. of N. Y. bid par.
.
(100.133) and int~? There
were no
other bidders.
DETROIT, Mich.—BOND SALE.—According
.i
—av/wuiub
nju»i
local newspapers,
$1,000,000 4% school-impt. bonds were awarded to Henry Ford of Detroit
on Sept. 23 at
par.
These bonds are part of the issues the city has been
trying to dispose of over the counter (V. 97, p. 755), and Mr. Ford's action
was taken to
help the city through the financial crisis which confronted
it on account of the failure of the
City Comptroller to sell enough of the
bonds to pay for improvements
already under way.
DOVER, Morris Co unty, N. J.—BONDS PROPOSED.—According
local newspaper reports,
sewer
to
this town is contemplating the issuance of $260,000
bonds.
DOVER, Cuyahoga County, Ohio.—BOND OFFERING.—Proposal®
Sept. 30 by E. E. Wible, City Aud., for the
following 5%paving (assess.) bonds (V. 97, p. 830):
$25,500 Front St. bonds.
Due $1,000 on April 1 and $1,500 on Oct. 1
from April 1 1916 to Oct. 1 1925 incl. and $500 on
April 1 1926.
17,500 Tuscarawas Ave. bonds.
Due $500 on April 1 and $1,000 on
Oct. 1 from April 1 1916 to April 1 1927 incl. and $500 on Oct.
1 '27.
ill
will be received until 1
p. m.
,
Denom. $500.
Fund Trustees.
„
„
_
Date Oct. 1 1913.
Cert, check for 2%
Nydegger, City Treas., required.
10 days from time of award.
Int. A. & O. at office of
Sinking
of bonds, bid for, payable to A,
Bonds to be delivered and paid for within
GARRETS VILLE,
Portage
County,
Ohio.—BOND
SALE—On
Sept. 20 the $1,939 55 5% coupon taxable paving bonds (V. 97, p. 755)
were
awarded to the First Nat. Bank of Garretsville at par and interest.
were no other bidders.
There
GEDDES, Onondaga County, N. Y.—BOND SALE.—On Sept. 22
the $27,000 5% 26-yr. (av.) tax-free Bridge St. ext. bonds (V. 97, p. 755)
were
awarded to Remick, Hodge & Co. of N. Y. at 102.093.
Other
bids
were:
Spitzer, Rorick & Co., N'. Y.101.675 Dominick & Dominick, N.Y.100.89
Farson, Son & Co., N. Y
100.81
Syracuse Tr. Co., Syracuse.-100.511
I. W. Sherrill, Poughkeepsie.101.67
Adams & Co., New York—101.125
GLENDALE UNION HIGH SCHOOL DISTRICT, Los Angeles
County, Cal.—BOND SALE.—It is reported that the $100,000 5% build¬
ing bonds offered on Sept. 8 (V. 97, p. 608) were awarded as follows: $75,000
to Los Angeles County and $25,000 to the First Nat. Bank of Tropico.
GLOVERSVILLE, Fulton County, N. Y.—BONDS A WARDED IN
PART.—Up to Sept. 25 $500 of the $16,750 (unsold portion of $50,000)
4)4% local improvement bonds (Y. 97, p. 680) had been awarded to local
investors at par and interest.
.
O. Marion), Ind:—BONDS AWARDED IN
PART.—On Sept. 15 $9,100 of the three issues of
4)4% highway-impt.
bonds, aggregating $19,860 (V. 97, p. 756), were awarded, it is stated, to
Black & Garst of Swayzee, Ind., at par and interest.
GRANT
EAST GRAND RAPIDS (P. O. Grand
Rapids), Kent County,
Mich.—BOND SALE.—The $25,000 5% 20-year water-works bonds
offered
without success on Sept. 15 (V. 97,
p. 830) have been awarded to Bolger,
Mosser & Willaman of
Chicago at 100.5 and int.
The Grand Rapids
Trust Co. bid par and interest.
COUNTY
(P.
GRANVILLE, Licking County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 12 m. Oct. 6 by R. E. Morrow, Vil. Clerk, for
Sept. 27
sanitary-sewer bonds.
Denom. $500. Date Oct. 1
Granville Bank Co.
Due $1,000 yrly. on Oct. 1
Cert, check for 10% of bonds bid for, payable to
Vil. Treas., required.
Bonds to be delivered and paid for within 10 days
from time of award.
Purchaser to pay accrued interest.
$10,000
5%
coup,
Int. A. & O. at
1913.
from 1923 to 1932 incl.
were
VALLEY, Nevada County, Cal.—BOND ELECTION PRO¬
POSED.—Reports state that an election will shortly be held to submit to a
vote the question of issuing $20,000 city-water-system-ext. bonds.
J. & J. in Greenville.
are in
Int.
JIM
,
tion fund certificates,
NOT SOLD—NEW OFFERING.—No bids were re¬
Sept. 22 for the $330,259 78 6% park fund certificates offered On
(V. 97, p. 830).
New bids will be received until Sept. 29.
CERTIFICATES
ceived
on
that day
.
Hartford County,
HARTFORD,
Conn .—BOND OFFERING.—Pro¬
Denom. $1,000.
Int. M.&N.
registered bonds to be trans¬
Certified check for 2% of bonds bid
for, payable to City Treasurer, required.
Bonds to be delivered and paid
for Nov. 1 at office of City Treasurer.
Official circular states there has
never been any litigation, nor is there any pending, affecting the bonds of
the city, and that the city has never defaulted in its obligations.
The official notice of this bond offering will be found among the advertise¬
bonds to be issued Nov. 1
(V. 97,
p.
830).
on coupon
bonds at office of City Treasurer on
mitted by
mail.
H.
Due Nov. 1 1933.
elsewhere in
HARTFORD,
advises
O. Cincinnati), Hamilton County, Ohio.
OFFERING.—Proposals will be received until 12 m. Oct. 25 by
Appleton, Vil. Clerk, for $23,704 60 5% 1-10-yr. (ser.) sewer dist. No. 2
(assess.) bonds.
Auth. Sec. 87, Municipal Code.
Denom. $2,370 46,.
or purchaser may have option to have bonds in the denom. of $100 or $500
and one for such less amount as may remain over from each of said ten
bonds.
Date Sept. 8 1913.
Int. ann. at Norwood Nat. Bank, Norwood*
Cert, check for 5% of bonds bid for, payable to Vil. Treas., required
Bonds to be delivered and paid for within ten days from time of award..
Purchaser to pay accrued int.
The amount of these bonds may be reduced
by the amount of cash assessments received within the next 30 days.
A
sinilar issue of bonds was offered on Sept. 20.
KENNEDY HEIGHTS (P.
—BOND
posals will be received until 2 p. m. Oct. 16 by C.H. Slocum, City Treas.,
for the $1,000,000 4H% gold coupon or registered municipal building
us
Van Buren County, Mich.—BOND SALE.—The Vil,
under date of Sept. 24 that the $4,000 5% 1313-year
(V. 97, p. 544) have been sold
HASTINGS, St. John County, Fla.—BOND OFFERING.—Proposals
Oct. 14, it is stated, by G. W. Waller, Prest. of
for the $10,000 5% 20-year street-impt., fire protection and
will be received until 6 p. m.
Council,
bonds (V. 97, p. 608).
DISTRICT (P. O. Hazelton), Luzerne
County, Pa.—BOND SALE.—We are advised that the $80,000 4M
coup, tax-free school bonds offered without success on July 22 (V. 9
p. 253) have been disposed of.
HAZELTON
SCHOOL
DISTRICT (P. O. Helena), Ark.—BOND
OFFERING.—Reports state that W. A. Coolidge, Dist. Sec., will receive
proposals until 12 m. Oct. 1 for the $400,000 impt. bonds (V. 97, p. 830).
HELENA IMPROVEMENT
Rusk County, Tex —BOND OFFERING.-—Proposals
will be received until 2 p. m. Oct. 20 by C. L. Lacey, City Secretary, it is
stated, for the $32,000 5 % 40-year water-works bonds voted June 20
(V. 96, p. 1854).
.
HENDERSON,
HENDRICKS COUNTY (P. O.
Danville), Ind.—BOND SALE.—The
97, p. 466) have
Lincoln Twp. highway-impt. bonds (V.
been purchased by local parties at par and int.
$27,280 4>3%
COUNTY
KNOX
Vincennes),
O.
(P.
Ind.—BOND OFFERING.—
Proposals will be received by W. E. Ruble, County Treasurer, until 2 p. m*
Oct. 1, and from day to day thereafter until sold, for $2,160 4M% G. W.
Sproat et al road-impt. bonds.
Denom. $108.
Date Aug. 5 19i3. Int.
M. & N.
Due part each six months.
KOOCHICHING COUNTY (P. O. International Falls), Minn.—
OFFERED BY BANKERS—An issue of $25,000 5% publicdrainage-ditch-constr. bonds is being offered to investors by Ulen & Co*
of Chicago.
Denom. $1,000.
Date July 1 1913. Int. J. & J. at the
Central Trust Co. of Illinois, Chicago.
Due $7,000 July 1 1932 and $18,000
July 1 1933.
Total debt, $606,441 26; assess, val., $7,211,393; real val.
(est.), $25,000,000,
;
BONDS
this Department.
(aver.) water-works-ext. bonds voted Aug. 11
to the West Michigan Sav. Bank of Bangor.
sewer
advised that
are
HANNIBAL, Marion County, Mo.—BOND SALE.—Reports state
that the $360,000 5% 10-20-yr. (opt.) water-works bonds voted July 1
(V. 97, p. 130) have been sold to W. R. Compton & Co. of St. Louis at par.
Date Sept. 1 1913.
Clerk
Mo.—CERTIFICATES NOT SOLD.—No bids were,
6% 10}3-yr. (av.) coup. .Twelfth St. condemna¬
Series 1, offered on Sept. 16 (V. 97, p. 680).
We
these certificates will not be re-advertised.
CITY,
KANSAS
received for the $75,421 95
Noblesville), Ind.—BOND OFFERING.
—According to reports, proposals will be received until 10 a. m. Oct. 2 by
J. E. Bert, County Treasurer, for $6,000 4H% 10-year highway-impt.
ments
(P. O. Joliet),;
TOWNSHIP HIGH SCHOOL DISTRICT
JOLIET
Will County, 111.—BOND ELECTION.—The election to vote on the ques¬
tion of issuing the $100,000 5% additional bldg. bonds (V. 97, p. 467) will
be held Oct. 11.
Due $10,000 yrly. beginningI1925.
HAMILTON COUNTY (P. O.
bonds.
Denom. $1,000.
WELLS COUNTY (P. O. Alice), Tex.—BONDS PROPOSED.—
This county is considering the issuance of $50,000 road bonds.
GREENVILLE TOWNSHIP (P. O. Greenville), Pitt County, No.
Caro.—DESCRIPTION OF BONDS.—We are advised that the $50,000
authorized
Kent County, Tex.
M. Morrow, Sec. Bd. of School Trustees, wilb
the $12,000 5% 10-40-year (opt.) bldg. bonds voted.
(V. 97, p. 544.)
July 1
DISTRICT (P. O. Grass Valley), Nevada
Calif.—BOND ELECTION PROPOSED.—Reports state that an
to a vote the proposition
day of issue.
Int. J. & J.
20 1913.
Inclusive.
JAYTON SCHOOL DISTRICT (P. O. Jayton),
offer for sale on Oct. 2
GRASS VALLEY SCHOOL
40-year coup, road-improvement bonds recently
the denomination of $1,000 and will bear date of the
of Indianap. for $9,061 60*
BOND OFFERING.—W.
election will be held in the near future to submit
to issue $50,000 high-school-constr. bonds.
5%
awarded to E. M. Campbell's Sons & Co.
equal to 100.684. . Denom. $500.
Date Sept.
Due $1,000 yearly on July 1 from 1915 to 1923
GRASS
County,
905
CHRONICLE
THE
1913.]
Webb
LAREDO,
vised that this city is
County, Tex.—BONDS PROPOSED.—We are ad¬
contemplating the issuance of $20,000 funding bon-ds.
LATROBE SCHOOL DISTRICT (P. O. Latrobe), Westmoreland
County, Pa.—BOND SALE.—On Sept. 22 the $115,000 4>3% 1713
bo:
(av.) coup, tax-free bldg. and equip, bonds (V. 97, p. 831) were aw
to the Mellon Nat. Bank of Pittsburgh at par.
.
' ■ »
.
COUNTY
LEE
(P.
Fort Myers),
O.
Fla.—BONDS DEFEATED.—
According to reports, the question of issuing the $200,000 road and bridgeconstruction bonds (V. 97, p. 467) was defeated at the election held Sept. 9.
LEWISBURG, Marshall County, Tenn.—BONDS OFFERED BYBANKERS.—Ulen & Co. of Chicago are offering to investors $15,000 of
the $20,000 6% 25-yr. water-works bonds (V. 97, p. 609).
Denom. $500.
Date Oct. 1 1913.
Int. aim. on Oct. 1 at the Nat. Park Bank, N. Y. Total
debt, $58,000; assess, val., $829,248; real val. (est.), $2,500,000.
DISTRICT
SCHOOL
LEXINGTON
(P.
Lexinggon), Fayette
O.
County, Ky.—BOND ELECTION.—The question of issuing the $100,000
5% 30-yr. bldg. bonds (V. 97, p. 467) will be submitted to a vote on Nov. 4
LIBERTY TOWNSHIP
Claiborne Parish, ^La.—NO BOND ELECTION.—We are
19 was not to vote on the issuance of
bonds, as reported in V. 97, p. 466, but to vote on a 10-yr. tax in aid of the
North Louisiana Electric Co. to construct an electric railroad.
,
HOMER,
advised that the election held Aug.
SEt
.
County, Ohio.
(av.) road-impt.
Seasongood & Mayer
(P. O. Girard), Trumbull
the $18,000 513% 5^-yr.
—BOND SALE.—On Sept. 22
bonds (V. 97, p. 609) were awarded,
of Cincinnati for $18,380 (102.111).
it is stated, to
.
HORNELL, Steuben County, N. Y.—BOND OFFERING.—Proposals
will be received until 3 p. m. Oct. 8 by W. W. Smith, City Clerk, for the
following 5% paving bonds:
•
$16,000 paving bonds voted April 29 (V. 96, p. 1316).
Due $2,000 yrly.
12,850 paving bonds.
Denom. (1) $1,000, (6) $500, (10) $300, (15} $200,
(28) $100, (1) $50.
Date Oct. 1 1913. Due on Oct. 1 as follows:
$1,000 1914, $3,000 1915, 1916 and 1917 and $2,850 in 1918.
Cert, check for $500. payable to City of Hornell, required with each bid.
Separate bids must be made for each issue.
Bonds may be registered.
HUNT
COUNTY
(P.
Greenville),
O.
An election will be held Nov.
Tex.—BOND ELECTION.—
15 to vote on the question of issuing
$100,000
LIMA,
Allen
County,
Ohio.—BOND ELECTION PROPOSED.—"Re¬
park and electric-light bonds will
ports state that the questions of issuing
be submitted to a vote in November.
LINCOLN COUNTY (P. O. Libby), Mont.-—BOND OFFERING.—
Proposals will be received until 9:30 a. m. Oct. 24 by S. Carpenter, County
Clerk, for $81,000 20-year refunding bonds at not exceeding 6% int.
Denom. $500.
Int. J. & J. at office of County Treasurer.
Certified check
for 5% of bid, payable to J. C. Friend, County Treasurer, required.
(P. O. Lodi), Bergen County, N. J.—
will be received until 8:30 p. m. Oct. 1;
District Clerk, for $62,000 5% 19 1-3-year
Certified check for $1,000 required.
LODI SCHOOL DISTRICT
BOND OFFERING.—Proposals
it
is
stated,
by
P.
Dansen,
school bonds.
hospital bonds.
(average)
HUNTINGTON BEACH, Orange County, Cal.—BOND ELECTION
PROPOSED.—According to local newspaper reports, an election will be held
in the near future to vote on the question of issuing $22,000 street-impt.
According to reports, the question of issuing the $200,000 city-hall bonds
was defeated at the election held Sept. 18 by a vote of 900 "for" to 1,568
bonds.
Ohio.—BOND OFFERING.—Additional in¬
formation is at hand relative to the offering on Oct. 21 of the $25,000 4 13 %
Main St. paving coup, bonds (V. 97, p. 830).
Proposals for these bonds
will be received until 12 m. on that day by F. R. Toomey, Vil. Clerk.
Denom. $1,250.
Date Oct. 1 1913.
Int.ann.
Due $2,300 yrly. on Oct. 1
from 1914 to 1923 incl.
Cert, check for 2% of bonds bid for, payable to
Vil. Treas., required.
Bonds to be delivered and paid for within 10 days
from time of award..
Purchaser to pay accrued interest.
Erie
IMPERIAL
County,
COUNTY
(P.
O. El
Centro), Cal
— BOND
ELECTION
future
PROPOSED.—Reports state that an election will be held in the near
to submit to a vote the question of issuing $500,000 road bonds.
IOWA FALLS SCHOOL DISTRICT (P. O. Iowa Falls),
County, Iowa.—BOND SALE.—The Harris Trust & Sav. Bank of
was awarded on Aug. 20 the $75,000 5% 10-yr. bldg. bonds at par
Denom. $1,000.
Date Aug. 1 1913.
Int. F. & A.
"
issue
been
.
Jacksonville), Ore.—BOND OFFERING.
—According to reports, proposals will be received until 10 a. m. Oct. 15
by G. A. Gardner, Co. Clerk, for the $500,000 5 % 20-yr. (av.) highwayconstr. bonds voted Sept. 9 (V. 97, p. 830).
JACKSON COUNTY (P. O. Edna), Tex.- -BOND ELECTION.—The
756) will be sub¬
question of issuing the $100,000 road bonds (V. 97, p. '
ted).
mitted to a vote on Oct. 5 (not Oct. 4 as first report
County
Board of
that this district has authorized the
JACKSON SCHOOL DISTRICT (P. O. Jackson), Jackson
Mich.—BONDS AUTHORIZED.—We are advised by the Clerk
Education, under date of Sept. 22,
issuance of building bonds.
JAMESTOWN,
Chautauqua C
N.
Y.—BOND
OFFERING.—
roposals will be received by u. B. bnes. Sec. Electric Light Commission,
until 7:30 p. m. Oct. 9, it is reported, for the $40,000 electric-light-impt.
bonds voted Aug. 9 (V. 97, p. 313).
UNION FREE SCHOOL DISTRICT (P. O. James¬
town), Chautauqua County, N. Y.—BOND SALE.—On Sept. 18 the
$109,000 5% 813-year (av.) reg. site-purchase and building bonds (V. 97, p.
756) were awarded to Adams & Co. of N. Y. at 101.375 and int.
Other
JAMESTOWN
were:
N. Y_._100.97
Douglas Fenwick & Co.,N.Y.101.35
Isaac Sherrill, Poughkeepsie_101.17
N. Y. Life Ins. Co.,
A. B. Leach & Co., N. Y-.-_101.il
N. W. Halsey & Co., N. Y__101.089
Spitzer, Rorick & Co.,
W. H. Cook______
For
-.101.02
Farson, Son & Co., N.
Farmers' & Mechanics'
Jamestown
100.89
N. Y.100.67
Y
Bank,
...*100
$10,000.
JASPER, Dubois County, Ind.—BOND. SALE.—Oh
$9,000 413 % electric-power-house-machinery-purchase bonds
19 the
(V. 97, p.756)
Sept.
.
BONDS VOTED.—By a vote of 2,029 to 796 the proposition to issue
$200,000 water-system-ext. bonds (V,. 97, p. 681) carried, it is stated, at
election held Sept. 16.
LUNA COUNTY SCHOOL
the
the
DISTRICT NO. 5, N. Mex.—BOND SALE..
6% 20-30-yr. (opt.) bldg. bonds was awarded on June 9
Deming and the Deming Nat. Bank, Deming, at par.
De¬
Date May 1 1913.
Int. J. & J.
—An issue of $7,000
to the Bank of
nom.
$500.
DISTRICT NO. 9, N. Mex.—BOND SALE.
Deming Nat. Bank, Deming, were awarded
(opt.) bldg. and equip, bonds at par.
De¬
Date May 1 1913.
Int. J. & J.
—The Bank of Deming and the
on June 9 $2,000 6% 20-30-yr.
nom.
$100.
COUNTY (P. O. Waco), Tex.—BONDS
contemplating the issuance of $300,000 road
McLENNAN
JACKSON COUNTY (P. O.
*
DEFEATED.—
LUNA COUNTY SCHOOL
Hardin
Chicago
and int.
IROQUOIS COUNTY (P. O. Watseka), 111.—BOND SALE.—An
of $20,000 6% road-impt. bonds recently voted by this county has
disposed of.
Due $4,000 yearly.
.< ■'
bids
Angeles County, Cal.—BONDS
"against."
*
HURON,
LONG BEACH, Los
This county is
PROPOSED.—
bonds.
SALE.—
757) were
(P. O. Marshall), No. Caro.—BOND
On Sept. 17 the $50,000 5% 30-year road-impt. bpnds (V. 97. p.
awarded to C. W. McNear & Co. of Chicago, it is stated.
MADISON COUNTY
,
-
(P. O. Madison). Dane County,
Wis.—BONDS PROPOSED.—Reports state that this district is contem¬
plating the issuance of $100,000 building and equipment bonds.
MADISON
DISTRICT
SCHOOL
MANCHESTER, Hillsboro County, N. H.—BONDS SOLD
COUNTER.—According to reports the $100,000 4% 1-20-yr. (ser.)
impt. bonds advertised to be sold at public sale on Sept. 24 (V. 97,
have been sold over the counter at par.
MANITOU, El Paso County, Colo.—BOND SALE
an issue of $10,000 5% 15"-yr. bonds was purchased
ST "
_
orts,
ports,
OVER
streetp.
681)
According to re-
by T. C. Pease of
Colorado Springs.
MANSFIELD, De Soto Parish, La.—BONDS VOTED.—The question
the $70,000 5% 40-year opt. water-works and sewerage bonds
(V. 97, p. 757) carried at the election held Sept. 16 by a vote of 93 to 26.
of issuing
MANSFIELD,
Richland
County,
Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Oct. 20 by K. P. Troll, City Auditor,,
5% bonds:
„
$9,500 general street impt. (city's share) bonds.
Due $1,000 yearly on
Sept. 1 from 1914 to 1918, incl., and $900, yearly on Sept.
1919 to 1923, inclusive.
n
t-.
2,100 North Walnut St. storm water sewer (citys share) bonds.
Due
$400 yearly on Sept. 1 from 1914 to 1917, incl., and $500 Sept. 1
for the following
1 from
v.
^
1918
4,000 Sewer Districts Nos. 1, 2 and 3 (district's share) bonds.
Due
Sept. 1 1914.
o
1,700 sewer (assessment) bonds.
Due from 1 to 3 years.
31,700 street-impt. (assessment) bonds.
Due from 1 to 5 years.
Int. M. & S. at office of City Treasurer.
Certified check on a Mansfield,
bank for 10% of bonds bid for, payable to' "City of Mansfield," required
,
_
Bids must
be unconditional.
i&oi
'Jc
.
„
906
THE
CHRONICLE
MARBLE ROCK, Floyd
County, Iowa.—BOND SALE.—An issue of
$24,000 5)4% 6-20-year (opt.) light and
power-plant bonds was awarded
on Ai
Aug. 15 to J. B. Sbepardson of Marble Rock at
par.
Denom. $1,000.
Date Aug. 1 1913.
Int. A. & O.
Other bids
[Vol.
were:
BlodgetA Co., Boston
Perry ^Coffin & Burr, Bos
NEW
LEXINGTON,
Proposals will be received
MARION COUNTY (P. O.
22d the $12,000 6% coupon
awarded
to the City Savs.& Loan Co. of
Mansfield for $12,266
Denom. $500.
Date Sept. 1 1913.
Int. M_ & S at office of
Due $500 each six months from March 1 1914
to Sept. 1 1916
incl., $1,000 on March 1 1917, $500
Sept. 1 1917, $500 on March 1 and
$1,000 on Sept. 1 from March 1 1918 to
Sept. 1 1921 incl. and $1,000 on
March 1 and $500 on Sept. 1 1922.
'
Ohio.—BOND
OFFERING.—
Village
required.
.
MARION
COUNTY (P. O. Jasper), Tenn.—BONDS NOT TO BE
PRESENT.—We are advised that the $50,000 school-impt.
building bonds mentioned in V. 97, p. 467, will not be issued at present.
Amt.
COUNTY
(P.
FEATED.—The
O.
Bay
City),
Tex.—BONDS
DE¬
proposition to issue $25,000 road-precinct No. 5 bonds
defeated, It is stated, at the election held
Sept. 13 by a vote of 20 "for"
"against."
4}4
4)4
4y2
Town H all Improvement
Grace Ave
J.
4H
4)4
4)4
4)4
Lakeville Road
Barrow Beach
__J.
J.
&
J.
Jan.
Bayview and Mackey Avenues
1923
!_J.
&
J.
Jan.
1921
J.
&
J.
July
1 1932
4.60
2.500
MARYSVILLE, Union County, Ohio.—BOND SALE.—On Sept. 25
four issues of 6% street-impt.
(assess.) bonds aggregating $26,800 were
awarded, reports state, to the Bank of
Marysville for $27,301 (101.869).
Rate.
$3,000
10,000
10,000
10,000
10,000
8,000
14,000
40,000
28,500
20,000
12,000
MARSHALL COUNTY (P. O.
Plymouth), Ind.—BOND SALE.—
According to reports, an issue of $50,000 4)4% tax-free road bonds
wa
purchased on Sept, 23 by Miller & Co. of Indianapolis at par.
IT MATAGORDA
4.60
to 22
bonds,
we
are
advised, will probably
Worcester
Ohio.—BOND
County,
4.60
1927
1927
Jan.
1927
Osceola
County,
Nov. 1 1942
Nov. 1 1931
Nov. 1 1942
Nov. 1 1942
Nov. 1 1942
_M. & N.
__M. & N.
Cal.—BOND
ELECTION.—Re¬
on the question of
Iowa.—BOND
SALE.—We
are
1
Caldwell), Noble County, Ohio.—BOND
g
OMAHA, Douglas County, Neb.—BOND ELECTION PROPOSED.—
Reports state that an election will be held in the near future to submit
to
the voters the question of
issuing $200,000 or $250,000 public-library-impt.
bonds.
■
OFFERING,—ReSept. 29 by the
Date Sept. 1 1913.
ORANGE
COUNTY
(P.O.
Orlando),
An election will be held Oct. 3 to vote
in Special Tax Dist. No. 34.
MINERAL
BOND ELECTION
on
¥!&.—BOND ELECTION.—
the issuance of $4,000 6% bonds
PROPOSED.—According
be held in the near future to submit to
000 road-construction bonds.
■'
PALA SCHOOL DISTRICT
(P. O.
a
to reports, an election will
question of issuing $600,-
vote the
Pala), San Diego County, Calif.
—BONDS DEFEATED.—The question of
issuing the $17,000 school bonds
(V. 97, p. 468) was defeated, reports
state, at a recent election by a vote
of 102
for" to 112 "against."
OFFERING.—
Oct. 15-of the $100,000
on
Jan.
election will be held Oct. 20 to vote
OLIVE TOWNSHIP (P. O.
MINONK, Woodford County, 111.—BOND
SALE.—Reports state that
C. R. Danforth & Co. purchased an issue of
$4,000 5% drainage bonds.
offering
County,
J.
J.
SALE.—On Sept. 20 the $3,000 6% 4
2-5-year (aver.) road-impt. bonds
V. 97, p. 610) were awarded,
reports state, to the Noble
County Nat.
"ank of Caldwell for $3,010
(100.333) and int.
m.
Kingman), Ariz.—BOND
Diego
&
&
Utah.—BONDS NOT TO BE ISSUED AT
City Recorder advises us that no action will be taken
1914 toward the issuance of the
$75,000 5% So. Fork
reservoir-constr. bonds voted July 28 (V. 97,
p. 394.)
WELLS, Palo Pinto County, Tex.—BONDS PROPOSED.—
This city is considering the issuance of
$50,000 general-impt. bonds. *
at hand relative to the
San
Jan.
M. & N.
M. & N.
M. & N.
Station Road and Tenth St
Bayview and Manhasset Aves
Susquehanna Ave
an
Due.
May 1919
J.
OGDEN, Weber County,
PRESENT.—The
'
are
4.60
OCHEYEDAN,
OFFERING.—In
Mass.—BOND
ports state that proposals will be received until 12
Town Treasurer for $50,000
4\i% high-schoo bonds.
Due $2,500 yearly from 1914 to 1933 inclusive.
MOHAVE COUNTY (P.O.
4.60
&
advised that the $2,000 6%
water-works-impt. bonds authorized by vote
of 52 to 5 at an election held
Sept. 5 have been sold.
Due $500 July 1 1918,
1920, 1922 and 1924.
addition to the $11,000 5%
street-impt. bonds to be offered on Oct. 16
(V. 97, p. 831)', an issue of $3,589 30
5% sewer assess, bonds will also be
offered on that day.
Bids for these issues will be received until 12 m. on
that day by W. Gibbins, Aud.
Auth. Sees. 3812 and 3814, Gen. Code.
Denom. $35893.
Date Aug. 1 1913.
Int. F. & A. at the Nat. Park
Bank, N. Y.
Due $358 93 yrly. Aug. 1 1914 to 1923 incl.
Bonds to be
delivered and paid for within 10
days from date of award. Cert, check
for $500 required.
MILLBURY,
East Williston Water
Middle Neck Road.
Carlton Ave__
until after Jan.
County,
Int. Mos.
M. & N,
__J.
Stonington Road
ports state that
5% street-impt. bonds, aggregating $16,450 (V. 97,p.609)
awarded, reports state, to Spitzer, Rorick & Co. of Toledo at par and
Butler
<
issuing $7,500 city-hall bonds.
MIDDLEFIELD, Geauga County, Ohio.—BOND
SALE.—OnSept.22(
the two issues of
MIDDLETOWN,
Pur ose—
■p<
OCEANSIDE,
MELVERN, Osage County, Kan .—DESCRIPTION OF BONDS.—
The $8,000
electric-light-system-impt. bonds recently voted (V. 97, p. 393)
bear interest at the rate of
5%.
Denom. $500.
Date Aug. 1 1913.
Int.
F. & A.
Due $500 yearly.
These
be taken by the School Fund at par.
,
NORTH HEMPSTEAD (P. O.
Manhasset), Nassau County, N. Y.—
are advised by the
Supervisor that the town has dis¬
posed of the following bonds, aggregating $173,000:
BOND SALE.—We
ISSUED AT
Further details
Perry County,
until 12 m. Oct. 13
by Thad. B. Skinner,
Bonds to be delivered and paid for within 10
days from time of award.
Certified check for 10% of bonds bid for,
payable to the Village Treasurer,
Purchaser must pay accrued interest and
furnish blank forms
at his own expense.
•
-
(102.216).
int.
100.84
Day & Co., Boston—100.279
Marion), Ohio.—BOND SALE.—On Sept.
Mapes Free Turnpike road bonds (V. 97, p. 757)
Co. Treas.
were
R. L.
that
\
was
Curtis & Sanger, Boston
NEW HAVEN, New Haven
County, Conn.—BONDS NOT YET
SOLD.—We are advised by the City
Comptroller under date of Sept. 22
no sale has
yet been made of the $30,000 (unsold portion of an issue
of $65,000) 4% fire-headquarters bonds
(V. 97, p. 468).
MARION COUNTY (P. O.
Indianapolis), Ind.—BONDS AUTHOR¬
IZED.—On Sept. 22 the Council authorized
the issuance of $200,000 4)4 %
bridge bonds. According to reports, these bonds are to take the
place of
the $100,000 3
bonds offered without success on
Sept. 15 (V. 97, p.
r
831).
The new bonds will be offered for sale In about
six weeks.
and
101.30
101.208
N.W.Harris & Co.,Inc.,Bos_101.147
Merrill, Oldham & Co., Bos_100.149
Blake Bros. & Co., Boston-.101.07
Denom. $1,000.
Date Sept. 1 1913.
Int. M. & S.
W MARION, Wayne County, N. Y.—BOND SALE.—The
$30,000 bonds
offered on Sept. 18 have been awarded
to Myron W. Greene of Rochester
atjpar and Interest for 5s.
were
xcvii.
.
PALATKA SUB-SCHOOL
DISTRICT (P. O. Palatka), Putnam
County, Fla.—BOND ELECTION DECLARED ILLEGAL.—Local
papers
Laws of 1912.
Denom. $1,000.
Date "day of sale."
Int. semi-aim. at
place to be agreed upon.
Cert, check for $5,000, payable to the Board
of Supervisors, required.
state
that the election held Sept. 9, which resulted in a vote of 144 to
94 in
favor of the question of
issuing $75,000 bldg. impt. bonds, has been de¬
clared illegal by the Board of Public
Instruction because of an irregularity
in calling the same.
•
„
MOLINE, Rock Island County, 111.—NO BOND ELECTION AT
PRESENT.—Using newspaper reports, we stated that an election would
PALM BEACH COUNTY
(P. O. West Palm Beach), Fla.WITHDRAWN FROM MARKET.—We are advised
that the
(unsold portion of an issue of $60,000)
special road and
be held in the near future to submit
to the voters the question of
issuing
the $30,000 fire-department bonds
(V. 97, p. 467). We are now advised
that this bond issue has been
taken in the
suggested, but
action has
future.
near
MONTAGUE,
ports state that
no
or
will be
County,
Calif.—BOND
ELECTION.—Re¬
election will be heldr Oct. 20 to
submit to
$25,000
6%
MONTGOMERY COUNTY
vote the
a
municipal-water-system bonds.
(P.
O.
Conroe), Tex.—BOND SALE.—
On Sept. 16 an issue of $100,000 road
dist. No. 1 bonds
stated, to Cobb & Gregory at par.
was
awarded, it is
•
;
MONTGOMERY COUNTY
(P.: O. Christiansburg),
Va.—BOND
ELECTION PROPOSED.—Local
newspaper reports state that an election
will shortly be held to vote on the
question of issuing $100,000
Blacksburg
District road impt. bonds.
\
MORENCI, Lenawee County, Mich.—BOND
OFFERING.—Proposals
until 8
will be received
ext.- bonds
p.
voted
Sept.
8
yearly beginning 1918.
bonds offered without success
drawn from the market.
"
Siskiyou
an
question of issuing
been,
Sept. 30 for the $10,000 5% water-works(V. 97, p. 757).
Denom. $500.
Due $1,500
m.
on
May 5 (V. 97, p.
MORRILL,
Scotts Bluff County,
The City Clerk advises
held in the
near
works bonds
(V.
us
Neb.-—NO
that the reports
stating that
on the question of
future to vote
97, p.
BOND
757)
are
an
ELECTION.—
election will be
issuing $14,000
erroneous
water¬
PERRY, Noble County, Okla.—BONDS DEFEATED.—The question
of issuing $30,000 water bonds
was
defeated at the election held Aug. 6.
PITTSBURGH, Pa.—BOND SALE—On Sept. 10 the $99,000 (unsold
portion of an issue of $319,000) 4H %
playground-purchase bonds (V. 97,
p. 468) were awarded to the Union Trust Co. of
Pittsburgh at par.
PIXLEY
SCHOOL
DISTRICT,
Tulare
County,
AYR, Ringgold County, Iowa.—NO ACTION YET TAKEN.—
The City Clerk advises us that no action
has yet been taken
looking towards
the issuance of the $45,000 water-works bonds
voted July 24 (V. 97,
p.
393)'
MOUNT OLIVE GRADED
SCHOOL DISTRICT (P. O. Mount
Olive
Wayne County, No. Caro.—BONDS NOT YET
SOLD.—We are advised
under date of Sept. 20 that no sale has
yet been made of the $10,000 5%
20-yr. coupon school bonds offered on Aug. 2 (V. 97,
p. 467.)
The bonds
are not likely to be placed on the
market again until about Jan. 1
1914.
MURRAY COUNTY (P. O.
Spring Place), Ga.—BOND ELECTION
PROPOSED.—Local reports state that the question of
issuing court-bouse
and jail-constr. bonds will be submitted
to a vote in
October.
NASHUA, 'Hillsboro County, N.H.—BOND
OFFERING.—According
to reports proposals will be received until 10
a. m.
to-day (Sept. 27) for an
issue of $50,000 514 % coupon
notes, maturing Oct. 1 1914.
County,
Ohio.—BOND
OFFERING.—
Proposals will be received until 12 m. Oct. 11 by F. S.
Scott, Clerk of
Council, for the following 5% street-improvement bonds:
$3,062 $6 Adams St. bonds.
Denom. $306 39.
Date Sept. 20 1913.
Due $306 39 yearly on Mar. 1 from 1914 to
1923, inclusive.
2,032 80 Poplar St. bonds.
Denom.
$203 28.
Date Sept.
27
1913.
Due $203 28 yearly on Mar. 1 from 1914 to
1923, inclusive.
Auth. Sec. 3914, Gen. Code.
Int. M. & S.
Certified check for
2% of
bonds bid for, payable to the
City Treasurer, required.
Bonds to be
delivered and paid for within 10
days from time of award.
Purchaser to
fina
NEW
a
vote at
grade-crossing-
—BOND SALE.—On Sept^
the following two issues of
registered bonds, aggregating
$263,000, were
"^wftrdod to Estabrook & Co. of
Boston at 101.71 and interest:
:$150,000 4H % sewer loan bonds.
Due $5,000 yearly Sept. 1 from 1914
to
1
1943, inclusive.
113,000 4)4 % municipal loan No. 4 of 1913
bonds.
Due $12,000 Sept. 1
1914, 1915 and 1916, and $11,000
yearly from Sept. 1 1917
to 1923, inclusive.
»
•
Livingston), Tex.
-
-
-BONDS TO BEIOFFERED
POMONA
SCHOOL
DISTRICT,,
Los
No indebtedness at present.
Angeles
County,
BONDS NOT SOLD.—No sale has been made of
the $30,000 5%
(serial) building bonds offered
Aug. 25 (V. 97,
on
p.
that these bonds are in the hands of the Board of
will likely be purchased by them.
r
468).
We
Cal.—
1-10-year
are
advised
County Supervisors and
PORTLAND, ORE.-r—jBOND SALE.—On Sept. 16 the $259,388 25
6%
10-year municipal-impt. bonds (V. 97, p. 758) were awarded, it is
stated,
follows: '
as
Bidder—
Amt.
Bk. of California
price.
$18,000
Hoffman.
103
500
103
__
Bidder—
Amt.
C.W. Proud
G. E. Welter
$500
300
F. Henry Thias
Sec. Sav.&Trust Co_
Ladd &
H. Graf
1,000 105
9,988 102.63 Nettie Crogster
16,000 103.50 August Paulson
10,000 102.86 Portland Trust Co
(100,000 103.10 Mary I. Norton.
1100,000 102.76
Tilton.
J. W. Caruthers
W.
F.
White
PORTSMOUTH CITY SCHOOL
Scioto County, Ohio.—BOND
until 12
5%
tbe November election.
-
—
$40 ~~
May 24 (V. 96, p. 1648), will probably
twenty days.
Denom. $500.
Int. annual.
m.
Oct.
10 by W. C.
school-impt.
bonds.
DISTRICT
(P.
Price
103
103
1,500
500
O.
103
103
103.25
500
OFFERING.—Proposals
103
100
500
103
Portsmouth),
received
will be
Hazleback, Clerk Board of Ed., for $59,000
Auth.
7629, Gen. Code.
Denom. $500.
& O. at Central Nat.
Bank, Portsmouth.
$3,000 in 1918, 1919, 1920 and
1921, $4,500 in
1923, 1927 and 1931, $4,000 in 1924 and 1928, $5,000 in 1925 and
1930,
$3,500 in 1926 and $6,000 in 1929 and 1932.
Cert, check for 5% of bonds
bid for, payable to Clerk, required.
Bids must be unconditional,,
Due
BEDFORD, Bristol County, Mass
POLK COUNTY (P. O.
SHORTLY
the
Date
NEWARK, Licking County, Ohio.—BOND ELECTION
PROPOSED.
—According to reports the question of issuing $240,000
elimination bonds will be submitted to
$20,000 6% 1-20-year (serial) school bonds.
Denom. $1,000.
Date Aug. 1 1913.
Int. semi-annually at pffice of
County Treasurer in
Visalia.
No other debt.
Assessed valuation 1912, $527,825.
Actual
valuation (estimated), $1,500,000.
Edward
Athens
pay accrued interest.
Cal.—BONDS
offering
OFFERED BY BANKERS.—The Wm. R. Staats Co. of
Pasadena is
1
MT.
NELSONVTLLE,
$45,000
PALMYRA, Jefferson County, Wis.—BOND OFFERING.—Add itional
information is at hand relative to the offering on Oct. 20 of the
$18,000 5%
11 1-3-yr.. (aver.) tax-free water-works
bonds (V. 97, p. 758).
Proposals
for these bonds will be received until 8
p. m. on that day by F. J. Rundle,
Vil. Prest.
Denom. $500.
Date March 1 1914.
Int. ann. in March at
office of ViL Treas.
Bonded debt, this issue.
Assess val.
$433,606.
to investors
.
BONDS
bridge district
468) have been with-,
Oct.
on
10
1913.
Oct. 10
as
Int.
Sec.
A.
follows:
PRATT, Pratt County, Kans.—BONDS VOTED.—Reports state that
favorable vote was cast at a recent election oh the
proposition to issue the
$50,000 municipal electric-light-plant bonds (V. 97,
p. 394).
a
PROSSER, Benton County, Wash.—BOND ELECTION PROPOSED.
election to vote on the proposition to
issue $15,000 city-hail bonds
—An
will
be held in the
near
future, it is stated.
,
Sept. 27
PUNTA
GORDA,
CHRONICLE
THE
1913.]
De Soto County,
Fla.—BOND ELECTION RE¬
SCINDED.—We are advised that the election which was to have been held
Oct. 7 to submit to a vote the question of issuing $100,000 street bonds has
been rescinded.
We are further advised that the proposition to issue $60,000 sewer bonds will probably be submitted to a vote in November.
QUINCY SCHOOL DISTRICT (P. O. Quincy), Adams County, 111.
Oct. 1 by
Certified
907
Cruz Bank of Savings & Loans and the City Savings
Bank of Santa Cruz
(V. 97, p. 69) are in the denom. of $1,000 and $500 and dated Aug, 1
at par
1913.
ir.
Int.
& A.
Due Feb. 1
1936.
SANTA FE,
Santa Fe County, N. Mex.—BOND ELECTION PRO¬
POSED.—According to local newspaper reports, an election will beheld
in the near future to submit to a vote the question of issuing $6,000 sewer
—.BOND OFFERING.—Proposals will be received until 12 m.
C. E. Ellis, Clerk Board of Education, for $50,000 school bonds.
check for 45,000 required.
bonds.
COUNTY (P. O. Racine), Wis.—BONDS NOT TO BE
OFFERED AT PRESENT.—The County Treasurer advises us that the
$30,000 4% coupon court-house-construction bonds offered without success
on July 29 CV. "97, p. 394) will not be re-offered for some time.
was
v
RACINE
RANDOLPH COUNTY
(P. O. Winchester), Ind.—BOND OFFERING.
—Proposals will be received until 11
a. m.
to-day (Sept. 27)
SAN YSIDRO SCHOOL DISTRICT (P. O. San Ysidro), San Diego
County, Calif.—BONDS VOTED.—Reports state that a favorable vote
Like amounts of bonds
were
.RAVALLI COUNTY SCHOOL DISTRICT NO. 2 (P. O. Stevensville), Mont.—BOND SALE,—The $17,500 6% 20-30-year .(opt.) sitepurchase and building bonds offered on Sept. 20 (V. 97, p. 610) have been
sold to Keeler Bros, of Denver for $17,900 (102.286).
READING, Berks County, Pa .—BONDS AWARDED IN PART.—
Up to Sept. 25, $141,000 of the $300,000 4% tax-free sewer bonds had
This makes a total of
$24,000 sold since our last report (V. 97, p. 610).
been sold over the counter at par and interest.
REBECCA, Turner Cdunty, Ga.—BOND ELECTION.—An election
on the question of issuing $8,000 6% 30-year
will be held Oct. 8 to vote
SCHUYLER COUNTY (P. O.
RIALTO, San Bernardino County,
Cal.—BOND ELECTION RE¬
SCINDED.—The election which was to have been held Sept. 12 to vote on
the issuance of park bonds (V. 97, p. 468) has been called off for the present,
we are advised.
SHEBOYGAN, Sheboygan County, Wis.—BOND ELECTION PRO¬
and septic-tank bonds.
ROANOKE, Randolph County, Ala.—BOND OFFERING.—Proposals
Nov. 10 by W. Y. Chewning, Mayor, for
Will be received until 3 p. m.
$20,000
electric-light and water-works, and $20,000 sewerage 5% gold
tax-free bonds." Denom. $1,000.
Date July 1 1913.
Int. J. & J.
N. Y.
Due in 1943, subject to call at city's option.
Certified check for 5%, payable to "Town of RoanOke," required.
Bonded
debt (incl. this issue), $55,000.
No floating debt.
Assessed Valuation
1913, $950,000.
'
coupon
at Hanover Nat. Bank,
ROCHESTER, N. Y.—NOTE OFFERING.—Proposals will be received
E. S. Osborne, City Compt., for $100,000 school-
until 2 p. ra. Oct. 1 by
constr. and $100,000 sewage-disposal notes, payable eight months fron
Oct. 3 1913.
They will be drawn with int. and made payable at the Union
Tr. Co. of N. Y.
Bidder to designate rate of int., denomination of notes
desired, and to whom (not bearer) notes shall be made
payable.
ROCK CREEK,
Ashtabula County,
Ohio.—BOND SALE.—On
Sept. 15 the $3,400 6% .union cemetery-bridge bonds (VI. 97, p. 610) were
awarded to thO Citizens' Banking Co. of Rock Creek for $3,418 (100.529
and int.
Other bids were:
Sec.Sav.Bk.A Tr.Co., Toledo.$3,410iHayden,Miller & Co.,CIeve.$3,403 50
The First Nat. Bank of Barnesvllle also submitted a bid.
ROSENBERG, Fort Bend County, Tex.—BOND ELECTION.—Re¬
ports state that an election will be held Octl 15 (not Oct, 6, as first reported)
to submit to a vote the questions of issuing $18,500 Water-works-system
apd $12,500 street-improvement bonds (V. 97, p. 832).
SACRAMENTO,
Cal.—BONDS AWARDED IN PART.—E. H. Rol¬
lins & Sons of San Francisco purchased on Sept. 16 $355,000 of the $887,000
4H % 20^-year (aver.) coup, levee bonds offered without success on July
24 (V. 97, p. 315).
The purchaser pays $355,525 for the bonds and re¬
ceives from the city a bonus of $16,200 for taking the same.
ST. FRANCIS LEVEE DISTRICT, Ark.—BONDS NOT YET SOLD.—
We are advised under date of Sept. 19 that no sale has yet been made of the
$1,500,000 5H % 30-yr. levee-impt. bonds offered
on
Mfay 13IV. 97,p.395.)
*
Ohio.—BOND OFFERING.—Pro-
ils will be received until 12 ra. Oct.
11
by, J. F. Boltz, City Aud., for
taxable
sanitary-sewer
and
sewage-disposal-plant repair
bonds.
Denom. $500/ Int. J. & J. at office of Sinking Fund Trustees.
Due $500 yearly on July 1 from 1923 to 1927 incl.
Cert, check for 2% of
bonds bid for, payable to City Treas., required.
Bids must be made on
blank forms furnished by the City Aud.
Purchaser to pay accrued int.
BONDS TO -BE OFFERED SHORTLY.—We are advised by the City
Aud. that this city will offer for sale about Nov. 1 an issue of $35,000 streetimpt. bonds.
SALEM, Marion County, Ore.—BONDS VOTED.—According to re¬
ports, the question of issuing $480,000 sewer bonds carried at a recent election.
SAN ANTONIO INDEPENDENT SCHOOL DISTRICT, Tex —BOND
OFFERING.—Proposals will be received until Oct. 1 for the $300,000 5%
20-40-yr. (opt.) blag, bonds voted July 18 (V. 97, p. 611).
Denom. $1,000.
Date Sept. 2 1913.
Int. M. & S.
in San Antonio, Austin," Chicago or
New. York City.
Cert, check for $1,000 required.
P. H. Scholz is Secy,
of School Board.
SAN
*
.
SHELBY COUNTY (P. O. Shelbyville), Ind.—BOND SALE.—There
bids received for the $5,860 4%% 5 H-year (av.) Hanover Town¬
ship, Osborne Road bonds offered on Sept. 22 (V. 97, p. 832).
The issue
was subsequently taken by G. Ogden and F. Kent, contractors, who re¬
sold the bonds to E. M. Campbell & Sons of Indianapolis.
were no
6% notes were awarded to the People's Say. &• Loan Assn. of Sidney at
Notes to be delivered as money is needed.
par.
SLEEPY
Sept. 10.
■
.
SAN DIEGO, San Diego County, Calif.—BOND ELECTION PRO¬
POSED.—Reports state that an election will be held in the near future to
vote on the question of issuing $980,000 various water bonds.
SANDUSKY COUNTY (P. O. Fremont), Ohio.—BOND OFFERING.
—'Proposals will be received until 12 m. Oct. 4 by P. J. Hasselback, Co.
Aud., for $11,500 5% Port Clinton road Sec. No. 2 constr. bonds.
Auth.
Sec. 1223 Gen Code.
Denom. $500.
Date Oct. 1 1913.
Int. A. & O.
Due $1,000 each six months from April 1 1914 to Oct. 1 1918 incl. and $500
on April 1 and $1,000 on Oct. 1 1919.
Bonds to be delivered and paid for
within 10 days from notice of award.
MATEO,
San
Mateo
County, Cal.—BOND ELECTION.—
According to reports, an election will be held Oct. 14 to submit to a vote the
question of issuing $89,000 civic-impt. bonds.
SAN MIGUEL COUNTY SCHOOL DISTRICT NO. 97 (P. O. Pecos),
New Mex.—BOND OFFERING.—Proposals will be received until 2 p. m.
Oct. 9 by E. Romero, Treasurer, for $1,500 6% tax-free build, bonds. De¬
nom. $100. Date Oct. 9 1913.
Int.A.&O. at First Nat. Bank, Las Vegas.
Due 20 to 30 years after date, subject to call after 10 years.
No deposit
required.
No bonded or floating debt.
Assessed valuation 1913, $18,777.
SANTA ANA. Orange County, Cal.—BONDS VOTED.—The ques¬
tions of Issuing the $63,000 water-system-extension and $12,000 fire-dept.impt. bonds (v. 97, p. 547) carried, reports state, at the election held
Sept. 11.
SANTA
County, Minn.—BOND ELECTION PRO¬
the near future to vote on the question
bonds.
Brown
Mass.—BOND SALE.—An issue of $87,000 4U%
municipal loan bonds was awarded, on Sept. 24, to Perry, Coffin
SOMERVILLE,
Other bidders were:
Paine, Webber & Co., BostonlOI .533
Curtis & Sanger, Boston
101.51
,Bos—101.59
E. H. Rollins & Sons, Bostonl01.588 Merrill, Oldham & Co., Bos. 101.429
Lee, Higginson & Co., Bos._101.579 R. L. Day & Co., Boston—101,389
N. W. Harris & Co., Inc.,
Blodget & Co., Boston..—101.56
Boston
101.317
Estabrook & Co., Boston—101.55
Denom. $1,000.
Date July 1 1913.
Int. J. & J. at National Security
Bank, Boston, or at office of City Treasurer.
Due yearly on July 1:
$10.000.1914 to 1917, inclusive; $8,000 1918-1922, incl., and $7,000, 1923.
& Burr of Boston at 101.77.
Blake Bros. & Co.,
Boston.-101.64
E .M .Farnsworth&Co.
SOUTH
BETHLEHEM,
Northampton
County,
Pa.—BOND
OF¬
FERING.—Further details are at hand relative, to the offering on Get. 6
of the $32,000 4H % (not 4%% as first reported) 15-30-year (opt.) tax-free
street-impt. bonds (v. 97, p. 832).
Proposals for these bonds will be re¬
ceived until 8 p. m. on that day by A. Brinker, Chairman Finance Com¬
mittee.
Denom.
$1,000 or
at office of Boro.
Treas.
as
desired.
Date Oct. 1 1913.
Cert, check for $5,000
Int. A. & O.
payable to the ,'Boro"
Official circular states that the principal and
vious issues of bonds have been promptly paid.
required.
interest of pre¬
SOUTH PASADENA, Los Angeles County, Cal.—BOND ELECTION.
—Reports state that an election will be held Oct. 8 to vote on the propo¬
sitions to Issue $300,000 water bonds, $200,000 for sewers, $28,000 fireprotection, $12,000 for paving the approach to the bridge over the Arroyo
,Seco at the Cawston Ostrich, farm and $10,000 city farm.
SOUTH SAN FRANCISCO, San Mateo County, Cal.—BOND SALE.
—Reports state that this city has disposed of $62,000 5% 1-31-year (serial)
sewer bonds.
On Aug. 11 $50,000 or this issue was offered without success
(V. 97, p. 683).
SPENCERPORT, Monroe County, N. Y.—BOND SALE.—An issue
bonds offered on Sept." 16 has been awarded to
Myron. W, Greene of Rochester at pa,r and interestjfor 5s,
of $6,000 street-impt.
SPRINGFIELD, Clark County, Ohio—NO ACTION YET TAKEN.
—No
action has yet been taken looking towards the re-offering of the
$67,095 59 4H % 8-year (aver.) coupon impt. (city's share) bonds offered
without success on Aug. 11 (V. 97, p. 469).
SPUR, Dickens County, Tex.—BONDS OFFERED BY BANKERS.—
The $23,000 5% 10-40-year (opt.) water-system bonds (V. 97, p. 395) are
being offered to investors by Ulen & Co. of Chicago.
Denom. $1,000.
Date June 1 1913.
Int. J. & D. at the First State Bank of Spur or the Na¬
tional City Bank of N. Y.
Total debt, this issue.
Assessed valuation
1912,
real value
$718,518;
STARK
COUNTY
(P.
(estimated),
O.
$900,000.
Canton),
Proposals will bereceived until 12
m.
Ohio.—BOND OFFERING.—
Oct. 10 by J. H. McConhell, Co. Aud.,
for $25,000 (assess.) and $25,000 (county's share) 5% Massillon-Navarre
road-ext. impt. bonds.
Auth. Sec. 6956-15, Gen. Code.
Denom. $500.
Date Sept. 12 1913.
Int. M. & S. at Co, Treas.
Due $10,000 on Sept. 12
in 1915,
1916 and 1917 and $20,000 on Sept. 12 1918.
Cert, check on a
Stark County bank for $500, payable to Board of County Commrs., re¬
quired.
Purchaser to pay accrued int.
Bids must be unconditional, ex¬
cept that the legality of the bonds will be subject to the approval or the
proper and qualified attorneys,.
It was reported that these bonds were
awarded to Weil,. Roth & Co. of Cincinnati On Sept. 3 (V. 97, p. 683).
STEELTON
SCHOOL
DISTRICT
(P.
O.
Steelton), Dauphin
County, Pa.—BOND SALE.—The $65,000 4H% 30-year coup, tax-f^ee
bldg. bonds (V. 97, p. 469) have been purchased by local banks.
COUNTY CONSOLIDATED SCHOOL DISTRICT NO.
(P. O. Colville), Wash.—BOND OFFERING.—According to reports,
STEVENS
bids will be opened on Oct. 4 for an issue of
$1,600 school bonds.
STILLWATER, Washington County, Minn.—BONDS PROPOSED.—
According to reports this city is contemplating the issuance of $25,000 street
and sewer-impt. bonds.
SAND CREEK TOWNSHIP (P. O. Brewersville), Jennings County,
Ind.—BOND OFFERING.—Reports state that proposals will be received
until 2 p. m. Sept. 29 by S. S. Neely, Trustee, for $1,800 4H% schoolbuilding bonds.
SAN
EYE,
POSED.—An election will be held in
of issuing $30,000 sewerage-system
50
BERNARDINO, San Bernardino County, Calif.—NO BOND
ELECTION.—We are advised that the questions of issuing the $75,000
road and $15,000 fire-dept. bonds (V. 97, p. 682) was hot submitted to a
vote on
'
,
SHELBY, Richland County, Ohio—BOND SALE.—On Sept. 20 the
$3,500 sewage-disposal and $1,058 general street(Improvement 5% taxable
bonds (Y. 97, p. 832) were awarded to Seasongood & Mayer of Cincinnati
for $4,614 (101.228) and interest.
coupon
RIO BONITO SCHOOL DISTRICT, Butte County, Cal.—BONDS
REFUSED.—Reports state that the $5,000 10^-year (average) gold build¬
ing bonds awarded to the Sacramento Valley Bank of Biggs at par (V. 97,
p. 611) have been refused by the purchaser because of legal errors.
A new
election will be called.
Auglaize County,
Watkins), N. Y.—BOND OFFERING.—
SIDNEY, Shelby County, Ohio.—NOTE SALE.—On Sept. 20 $7,000
REEDLEY. Fresno County, Calif.—BOND ELECTION.—An elec¬
tion will be held Oct. 20, it is stated, to submit to the voters the propositions
to issue $40,000 40-yr. sewer and $35,000 water-works bonds.
5%
the proposition .to issue $4,000
POSED.—Local newspaper dispatches state that an election will be held in
the near future to submit to the voters the question of issuing sanitary sewer
waterworks-system bonds.
MARYS,
on
,it is stated,
reported sold during
June (V. 97, p. 69).
ST.
Aug. 29
It is reported that proposals will be received until 12 m. Oct. 2 by O. Smith,
Clerk Board of Superv., for $36,000 4H % 1-12-year (serial) highway bonds.
by H. D. Good, County Treas., for $9,600 and $19,700 4H% 10-year
bighway-impt. bonds.
cast at the election held
school bonds.
BARBARA, Santa Barbara County, Calif.—BONDS VOTED.
STOKES
TOWNSHIP SCHOOL DISTRICT, Madison
County
Ohio.—BOND OFFERING.—Proposals will be received until 12 m. Oct. 15
by W. G. Evans, Clerk Board of Education (P. O. South Solon), for
$15,000 53^ % coupon Sub-District No. 8 building bonds.
Denom. $500.
Date Sept. 15 1913.
Int. M. & S. at office of Twp. Treas.
Due $500 each
six months from Mar. 15 1914 to Sept. 15 1928, inclusive.
Certified check
for 5% of bonds bid for, required.
SUMAS,
state that
Whatcom
County,
Wash.—BOND
OFFERING.—Reports
proposals will be received until 5p.m. Sept. 29 by J. L. Mitchell,
Town Treasurer, for $5,000 10-year bonds.
bid,
Interest rate to be named in
SUNNYVALE, Santa Clara County. Calif.—BOND ELECTION
PROPOSED—According to reports, the Clerk of the Board of Trustees
has been directed to prepare an ordinance calling for an election to vote on
the proposition to issue $35,000 sewer bonds.
TANGIPAHOA PARISH (P. O. Amite). La.—BOND ELECTION
PROPOSED.—Reports state that a petition will be circulated in the near
future, calling for an election to vote on the ques on of issuing $75,000
Hammond Road District bonds.
TARRANT COUNTY COMMON SCHOOL DISTRICT NO. 96,
—BONDS VOTED.—The question of issuing $3,000 building
at a recent election by a vote of 21 to 1, reports state.
TARPON SPRINGS, Pinellas County,
Tex.
bonds carried
Fla.—BOND ELECTION.—
An election will be held Oct. 14 to submit to a vote
the question of issuing
$60,000 5% 10-35-yr. (opt.) general-impt. bonds.
TAZEWELL
COUNTY
(P.
O. Pekin),
111.—BOND ELECTION.—
An election will be held Oct. 20, reports state, to vote on
•—By a vote, ofl ,183 to 294; cast at the election held Sept. 10, the question
"of issuing the $120,000 5%• water-works-ext. bonds (V.97, p. 611) carried.
to issue $250,000
W SANTA CRtJZ, Cal.—DESCRIPTION OF BONDS.—The $220,000 5%
water-works-system-purchaselbonds awarded on July 15 to the Santa
the proposition
court-house-constr. bonds.
is
TEAGUE, Freestone County, Tex.—BOND OFFERING.—'This city
offering for sale $15,000 5% 10-40-year (opt.) water-works bonds.
Authority vote of 170 to 65 at the election held Sept. 16 (Y. 97, p. 547).
,
-
5% road and bridge-improvement bonds.
WASHINGTON
Thomas County, Ga.—BONDS PROPOSED.—Re¬
contemplates issuing $65,000 5% bonds to take
the place of the $50,000 4H % gold coup, school bonds offered but not sold
THOMASVILLE,
(V. 96, p. 1440).
building bonds voted June 16 (V. 97, p.
posed of locally.
396) have been dis¬
was
(100.012) and interest.
made of the remaining seven
issues
4A% tax-free gravel-road bonds, aggregating $26,240, also offered on
p. 758).
'
Date Sept. 15 1913.
Int. M. & S.
permanent school fund.
WELLSVILLE, Columbiana County, Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Oct. 14 by J. F. McQueen, City
Auditor, for $5,000 5% 10-year fire-station-equibment bonds.
Denom..
$500.
Date June 8 1913.
Int. J. & D. at office or City Treasurer.
Certi¬
fied check for 2% of bonds bid for, payable to City Treasurer, required..
Bonds to be delivered and paid for withinilO days from time of award.
Purchaser to pay accrued interest. v
Due $200 each six months from
15 1914 to Sept. 15 1917, inclusive, and $200 Sept, 15 1918.
Bonds
paid for within 10 days from time of award.
Purchaser
accrued interest.
pay
TRINITY
The
COUNTY (P. O. Groveton), Tex.—BONDS VOTED.—
proposition to issue the $100,000 road bonds (V. 97, p. 548) carried, it
of 167 to 43, cast at the election held Sept. 16.
WEST
SCHOOL
TRAPICO
DISTRICT,
notice of sale, the $4,300
Angeles County, Calif.—
10^-year (av.) building bonds
Los
WHARTON COUNTY (P. O. Wharton), Tex.—BONDS PROPOSED.
iV. 97, p. 611) 100.135.
Angeles at were awarded, reports state, to W. R. Staats & Co. of
V
ios
•
—An issue of $250,000 road bonds is being
r
Oct. 12, it is stated, by A. G. Woodfield, Twp. Clerk, for
24M-year (aver.) coup, or reg. tax-free bldg. bonds.
Cert,
m.
$48,000 5%
check for 1 % required.
8 (V. 97, p. 758).
'
bonds carried at the electi
NEW
The City Council of Augusta, Ga.,
REFUNDING
OF
MUNICIPAL BUILDING
OF
City of Wilmington, Delaware,
THE
Building Commission Bonds
CITY OF HARTFORD, CONNECTICUT,
SALE.
to 12:00 o'clock noon, City or Eastern time,
FRIDAY, OCTOBER 10TH, 1913, for the pur¬
chase for cash of all or any part of an issue of
$200,000 par Value of Bonds of The City Council
of Augusta, issued for retirement of an equal
amount of bonds falling due November 1, 1913.
up
of the denomination of
one
thou¬
($1,000) dollars, dated November 1, 1913,
maturing thirty (30) years after date, numbered
from 1482 to 1681, both inclusive, bearing inter¬
sand
est at the rate of four and one-half per cent per
payable May and November first of each
The principal and interest payable at the
City
of Augusta, Georgia.
Interest payable also at
the American Exchange National Bank, New York
City.
Said bonds may be registered as to prin¬
cipal and Interest.
Provision has been made for
the levy of sufficient taxes each year to pay the
interest and the entire amount of the principal
at maturity.
.
annum,
year.
office of the Collector and Treasurer of the
All bids must be made out on blank furnished
by Wm. Lyon Martin, Clerk of Council, Augusta,
Georgia, and must be accompanied by a duly cer¬
tified check drawn on a State or National Bank,
payable to the order of "The City Council of
Augusta," for two per cent of the principal amount
of the bonds bid for, which check is to become the
property of said
"The City Council of Aug¬
usta" as payment of liquidated
damages should
the bidder fail to comply with his bid within ten
(10) days after written notice of the acceptance
of his bid shall have been given him.
The bid
and certified check must be enclosed in a sealed
envelope marked "Bid for $200,000 Refunding
Bonds of the City of Augusta," and addressed
to "Finance Committee of The City Council of
Augusta, Georgia."
It Is suggested, though not
insisted upon, that this sealed envelope be enclosed
in another envelope and addressed to "Wm.
Lypn
Martin, Clerk of Council, Augusta, Georgia."
Any additional information can be had by ad¬
dressing said Clerk of Council.
There will be furnished to the purchaser an
opinion by Messrs. Storey, Palmer, Thorndike &
Dodge, Attorneys-at-Law, Boston, Mass., fa-j
vorable to the legality of such bonds.
Such bonds
will be engraved by and executed under the su-
20-YEAR
the certificate of that Company as to its
genuine¬
ness.
proposals will be received by the City
Treasurer at his office in the City of Hartford,
until
THURSDAY,
THE
16TH
DAY
OF
OCTOBER, 1913, at two o'clock p. m., for the
purchase of the whole or any part of the abovenamed bonds, amounting to one million dollars
($1,000,000), to be issued November 1, 1913,
and maturing November 1, 1933, with interest
at four and one-half per cent (4A%) per annum,
payable semi-annually.
Principal and interest
payable in gold coin of the United States of
America.
For further information and conditions govern¬
ing proposals and sale, address
CHAS. H. SLOCUM,
City Treasurer.
received
until
12
o'clock
(Delaware) Building Commission Bonds.
will date from September 25, 1913, be
One Thousand Dollars
ton
issued in denominations of
each and bear Interest at the rate of four and one-
half
per
nually
as
on
centum per annum, payable semi-an¬
October 1 and April 1, and will mature
follows:
Amount.
Date of Maturity.
_.$2G,000
October 1, 1923
20,000
October 1, 1924
C
20,000
October 1, 1925
D
20,000
October 1, 1926
E
20,000
October 1, 1927
These bonds are for the purpose of paying for
the land and for the erection, equipment and fur¬
Class.
A
B
__1
Municipal Building for The Mayor
Wilmington, Delaware, and issued
of the General Assem¬
bly of the State of Delaware, approved February
nishing of
.
a
and Council of
under authority of an Act
26, A. D. 1913.
proposals must be accompanied by a certi¬
All
BLODGET
&
CO.
fied check payable to the order of "The Mayor and
Council of Wilmington," for two per centum of
the amount of the bonds bid for, the same to be
for
The successful bidder or bid¬
required to settle for bonds awarded,
with accrued interest from September 25, 1913,
at or before 12 o'clock noon, October 8, 1913.
The right to reject any and ail bids is reserved.
Address all bids in sealed envelopes to James
F. Price, City Treasurer, Wilmington, Delaware,
marked
"Proposals
for
Wilmington
Building
Commission Bonds."
WELLER E. STOVER,
GEORGE E. GRANTLAND,
JAMES KANE,
forfeited if the bidder fails to accept and pay
BONDS
bonds
awarded.
ders will be
STATE
60
JO
PINE
STREET. BOSTON
street; NEW YCTUC
STATE, CITY A RAILROAD BONDS
Bolger,
Mosser
& Willaman
Finance
of The Council
Committee
of Wilmington, Delaware.
MUNICIPAL BONDS
Legal for Savings Banks.'
PostaLSavings and Trust Funds.
,
.
-
.
SEND FOR UST.
29 South La Salle St.
CHICAGO
AMERICAN
<
MFG.
CO.
MANILA, SISAL AND JUTE
^MUNICIPAL AND RAILF.OAD
BONDS
FINANCE COMMITTEE OF
LIST
ON
CORDAGE
APPLICATION
L. C. HAYNE, Mayor.
Jas. P. Doughty, Chairman.
be
HUNDRED
Bonds
Sealed
right is reserved to reject any and all bids.
THE CITY COUNCIL OF AUGUSTA.
will
Thursday, September 25, 1913, for ONE
THOUSAND DOLLARS Wilming¬
noon
GOLD
434%
bids
Sealed
Servision of New Columbia-Knickerbocker Trust
ompany of the
York, and each bond will bear
The
LOANS.
$100,000
BONDS
BONDS
Sealed Proposals will be received by the Finance
Committee or The City Council of Augusta, Ga.,
are
NEW
LOANS.
$1,000,000.00
$200,000
Said bonds
WILMINGTON, Will County, 111.—BONDS VOTED.—According t©
newspaper reports, the question of issuing $12,000 water-works-ext
on held Sept. 10 by a vote ol 103 to 37.
local
These bonds were offered without success on Sept.
LOAN*
NOTICE
contemplated by this county.
WHARTON, Wharton County, Tex.—BONDS VOTED.—The ques¬
tion of issuing the $15,000 sewerage-system-extension bonds (V. 97, p. 683)
carried at the election held Sept. 14.
UNION TOWNSHIP SCHOOL DISTRICT (P. O. Lyons Farms).
Union County, N. J.—BOND OFFERING.—Proposals will bereceived
until 8 p.
ALEXANDRIA, Preble County, Ohio.—BONDS NOT SOLD.—
Reports state that because of a discrepancy between the ordinance and'
5A% 9-year coupon taxable street-improvement
bonds advertised to be sold on Sept. 22 (V. 97, p. 833) were not disposed
of on that day.
.
is reported, by a vote
BOND SALE.—On Sept. 8 the $20,000 5A %
SCHOOL DISTRICT NO. 140, Hunt County, Tex.—
SALE.—Reports state that the $1,500 5% school-building bonds
(V. 96, p. 1575) have been purchased by the Hunt County
voted June 7
TOWNSHIP,
to oe delivered and
to
but is so given by
WEILAND
BOND
Sandusky
County,
Ohio.—BOND
OFFERING.—Proposals will be received until 7 p. m. Oct. 25 by W. J.
Ballard, Clerk (P. O. R. F. D. No. 1, Clyde), for $1,600 5^% ditchimprovement bonds.
Auth. Sees. 3295 and 3939, Gen. Code.
Denom.
§200.
ept.
of the purchaser,
$4,000 6% 2H-year (average)
Aug. 23 (V. 97, p. 470).
Sept. 8 (Y. 97,
TOWNSEND
First Nat. Bank, Marietta--$80,601
Weil, Roth & Co., Cincin
80,481
C. E. Denison & Co., Cleve__ 80,425
WEBSTER
SCHOOL TOWNSHIP
(P. O.
Dogwood), Harrison
County, Ind.—WARRANTS NOT SOLD.—No bids were received for the
high-school-building warrants offered on
nson
BONDS NOT SOLD.—No sale
Ohio.—BIDS.—The
Proposals will be received until 12 m. Oct. 6 by W. C. Dyess, County
Treasurer, for $100,000 5% 10-20-year (opt.) coupon tax-free road-con¬
struction bonds.
Denom. $1,000.
Date Oct. 6 1913.
Interest annually
at Merchants' & Planters' Bank, Waynesboro.
Certified check for $100,
payable to "Wayne County," required.
V
.
it is stated.
{>. 758)Trust Co. at par and int. $2,240 Hollow ell Road bonds to theBreed,
were awarded as follows: and $15,600 Crail Road bonds.to Dickof
Marietta),
O.
WAYNE COUNTY (P. O. Waynesboro), Miss.—BOND OFFERING.—
TIPTON COUNTY (P. O. Tipton), Ind.—BOND SALE.—On Sept. 18
two issues of 4^% tax-free gravel-road bonds, aggregating $17,840 (V. 97,
Elliott & Harrison of Indianapolis for $15,602
(P.
Otis & Co., Cleveland
*$81,645
Hay den, Miller & Co., Clev. 80,664
Davies-Bertram Co., Cin— 80,645
Breed, Elliott & Harrison,Cin.80,632
This bid appears higher than that
theiounty Auditor.
TIOGA,
Grayson County, Tex.—BOND ELECTION.—On Oct. 4
the question of issuing $12,500 water-works bonds will be submitted to a
vote,
COUNTY
other bids received for the $80,000 5% 9 A year (aver.) coup, bridge-constr..
bonds awarded on Sept. 10 to Stacy & Braun of Cincinnati at 101.17 and
int. (V. 97, p. 759) were:
TILDEN SCHOOL DISTRICT (P. O. Tilden), Madison County,
Neb.—BOND SALE.—We are advised that the $5,800 (not $58,000 as
first reported)
PROPOSED.
of its intention to issue $4,500'
—The Board of Supervisors has given notice
ports state that this city
June 2
xcvii.
WARREN COUNTY (P. O. Vicksburg), Miss.—BONDS
TEHAMA, Tehama County, Cal.—BONDS VOTED.—By a vote of
of issuing the $10,000 municipal water-system-installa¬
tion bonds (V. 97, p. 469) carried at the election held Sept. 16, it is stated
76 to 29 the question
on
[Vol.
CHRONICLE
THE
908
iEAS0NG00D& MAYER
Ingalls Building
Sales
Office!
Noble & West Sts.,
Brooklyn, N. Y.
CINCINUATI
F.
WM.
KRAFT
LAWYER.
Specializing in Examination of
H0DENPYL, HARDY & CO;
GEO.
B.
EDWARDS
BROKER'
Municipal and Corporation
Bonds
14 Wall
S«.| Mow York
1037-9 FIRST NATIONAL BANK BLDG..
CHICAGO, ILL.
Railway, Street Ryr, Gas&Elet. Light
^SECURITIES
Tribune Building, NEW YORK. N. Y.
FOR SALE.—Timber, Coal, Iron, Ranch and
other properties.
Confidential
Negotiations,
Investigations;
Settlements- Purchases of Property
United States. West Indies, Canada, Mexico.
Sept. 27
WILLIS, Montgomery
County, Tex.—BONDS
$7,000 water-works bonds
10, it is stated, by a vote of 47 to 35.
sition to issue the
VOTED.—The propo¬
(V. 97, p. 549) carried on Sept.
ELMA RURAL MUNICIPALITY, Sask.—DEBENTURE
—According to reports, proposals will be received by S. Finley,
City), Miss .—BOND OFFERING.—
until 12 m. Oct. 6 (not Oct. 1 as first reported),
Clerk, for $77,500 6% 25-year third, fourth and
97, p. 834).
Denom. $500. Int. semi-ann.
bid required. County has no bonded debt.
YELLOW CREEK TOWNSHIP
(P. O. Wellsville), Columbiana
County, Ohio—BOND SALE.—On Sept. 20 the $5,519 36 5^% roadimprovement bonds (V. 97, p. 760) were awarded, it is stated, to Seasongood & Mayer of Cincinnati for $5,659 36 (102.536) and interest./
YOUNGSTOWN, Ohio.—BOND SALE.—On Sept. 22 the twenty-two
issues of 5% coup, or reg. bonds, aggregating $118,620 (V. 97, p. 612)
Proposals will be received
by S.S. Griffin, Chancery
fifth districts bonds
(V.
Certified check for 2% of
as follows:
Spitzer, Rorick & Co.,
awarded
were
To
$5,525:
Toledo.—$5,520 Orange St. paving, for
paving, for $6,385 70; $6,585 Wabash Ave. paving, for
Maple Ave. paving, for $7,551 78: $6,375 Waverly Ave.
paving, for $6,380 73; $10,700 Delaware Ave. paving, for $10,709 63;
$5,950 Lakeview Ave. paving, for $5,955 35; $8,570 Chalmers Ave. paving,
for $8,577 80;
$8,400 streetimpt. (city's portion), for $8,401;
street-impt. (city's portion), for $7,501; and $14,000 Fairmount Ave.
grading, for $14,023 80.
lh'2'o Firemen's Pension Fund
Trustees, Youngstown.—$2,985 Kings St.
paving, for $2,985; $3,165 Cleveland St. sewer, for $3,165; $8,000 streetfmpt. (city's portion), for $8,001; $1,650 street-opening, for $1,650, and
$6,380 Joseph St.
$6,590 91; $7,545
defeated at the election held Sept. 17.
.
*
OFFERING.—Proposals will be received until Oct. 10 by
for $7,038 44 5% 20-year coup, granolithicsidewalk local improvement debentures.
Date Jan. 1 1913. ^ Interest
annual on Nov. 1 at Canadian Bank of Commerce, Neepawa.
V
(V. 97, p. 684) was
DEBENTURE
$7,500
$3,500 Glenwood Ave. wall, for $3,500.
To Policemen's Pension Fund Trustees,
'
Youngstown, at
Irvings sewer-outlet.
NORTH
.
included accrued interest in addition to their
advised as to whether any sale was made of
coln Park viaduct bonds also offered on Sept. 22.
We
are
not
the
YUMA, Yuma County, Ariz.—BOND ELECTION.—An
Sept. 27, reports state, to submit to the voters the
issuing $500,000 highway-improvement bonds.
Canada, its Provinces
OTTAWA,
'
BURNABY,
B.
C.—DEBENTURES
Ont.—NEW LOAN.—Cable advices from
London state
£189,000 4>£% debentures at
Sask.—DEBENTURE OFFERING.—Proposals will be re¬
Sec.-Treas., for an issue of $2,000 debentures, it is
RHEIN,
by J. Bruce,
ceived
stated.
CREEK RURAL MUNICIPALITY, Alta.—DEBEN¬
AUTHORIZED.—The Council has been authorized to borrow
SOUNDING
election will
question of
TURES
$15,000, it is reported.
SCHOOL DISTRICT NO. 35,
will be received by J. B.
ROMAN CATHOLIC
THIBEAULT
Alt-a-—DEBENTURE OFFERING.—Proposals
Dalphond, Sec.-Treas. (P. O. Morinville), for an
tures.
Due in 20 annual installments.
issue of $14,000 6% deben¬
will be re¬
for $60,000
Ont.—DEBENTURE OFFERING.—Proposals
Oct. 20 by, J. H. Burgar, Town Treasurer,
WELLAND,
will be re¬
and equip,
installments.
DEFEATED.—'The question of
debentures was defeated, reports
ALSASK, Sask.—DEBENTURE OFFERING.—Proposals
by J. L. Spicer, Sec.-Treas., for the $6,000 fire-hose
debentures voted Sept. 2 (V. 97, p. 612).
Due in 20 ann.
issuing the $250,000 street-improvement
state, at a recent election.
VOTED.—A favor¬
proposition to issue
high-school-construction debentures (V. 97, p. 684).
of Ottawa on Sept. 23 issued
98The issue was over-subscribed.
and Municipalities.
ceived
$55,000
that the city
bids.
the $12,000 Lin¬
be held
BATTLEFORD, Sask.—DEBENTURES
at the election held Sept. 9 on the
able vote was cast
par.—$6,170 Will¬
grading. $3,610
$225 Tod and
All bidders
Bradley, Sec.-Treas.,
W.
J.
paving, $1,060 Meadow St. sewer, $500 Rice Ave.
Midland et al. sidewalk, $230 Darrow St. widening and
iams St.
OFFERING
Sec.-Treas »
Lake), for an issue of $6,000 debentures.
GRANUM, Alta.—DEBENTURES VOTED.—The question of issuing
the $1,000 6H% 10-year annual installment debentures (V. 97, p. 684)
carried at the election held Sept. 16 by a vote of 40 to 10.
GRENFELL, Sask.—DEBENTURE OFFERING.—Proposals will be
received until 6 p. m. Oct. 1 by J. Walker, Town Clerk, for $15,000 6%
20-year debentures.
LACHINE, Que.—DEBENTURE SALE.—Reports state that the $256,000 5% 40-year debentures offered on June 18 (V. 96, p. 1652) have been
disposed of as follows:
$50,000 to A. S. Johnson, $181,000 to J. A. Mackay
& Co. of Montreal and $25,000 to the Phoenix Insurance Co. of Montreal.
MARQUIS RURAL MUNICIPALITY, Sask .—DEBENTURE OFFER¬
ING.—According to reports, F.E. Hurd, Sec.-Treas., will receive proposals
for an issue of $3,000 debentures.
NEEPAWA, Man.—DEBENTURES DEFEATED.—The question of
issuing the $18,000 5%
electric-light-system-improvement debentures
(P. O. Dewar
COUNTY (P. O. Yazoo
YAZOO
909
CHRONICLE
THE
1913.]
ceived until 8 p. m.
5%
30-year debentures.
WILLOW CREEK RURAL MUNICIPALITY, Ont.—DEBENTURE
OFFERING.—Reports state that proposals will be received by S. Smith,
Sec.-Treas. (P. O. Star City), for $4,000 debentures.
'
MISCELLANEOUS.
MI5(JLLLANLUU5.
OFFICE OF THE
REVIEW
FINANCIAL
THE
320 PAGES
ISSUED
Commercial & Financial Chronicle
on the
and Industrial World.
Monthly
Review of Current Events, Money Market.
Stock Market and Foreign Exchange.
Financial
SECURITIES.
Analysis and Statement o 3 Stocks and Bonds
placed on New York Stock Exchange list
LISTINGS OF NEW
»
for
a
The Company's
BANK CLEARINGS
Premiums marked off from
January 1st,
paid during the year.
1912................$4,069,457 68
753,427 33
......................................$4,822,884 99
December 31st, 1912
....................$4,055,834 06
1912, to
$302,088 79
42,787 34
130,987 28
Re-insurances
..,
Discount.....................T...............
AND SPECULATION.
t
475,863 41
......-....-$2,104,257 48
$197,204 74
-
Less Salvages
Review of Bank Clearings
Record of transactions
Exchange and Produce Exchange.
1913.
marine and inland transportation insurance.
during the
Losses
22d.
of its affairs on the
January, 1912, to the 31st December,
1st January, 1912......................................
Interest on the investments of the Company received
year
Interest on Deposits in Banks and Trust Companies, etc—............
Rent received less Taxes and Expenses
...
.......
and
Comparisons
business has been confined to
Total Premiums
series of years.
January
the Company, submit the following statement
313t of December, 1912.
conformity with the Charter of
Premiums on such risks from the 1st
Premiums on Policies not marked ©fl
"
RETROSPECT OF THE YEAR 1912.
Complete Record of Events bearing
York;
New
The Trustees, in
CONTENTS.
COMPANY*
ATLANTIC MUTUAL INSURANCE
ANNUALLY BY THE
544,016 02
195.79
741,416 55
____
in the United States.
•
on
Stock
BUSINESS FAILURES IN UNITED STATE8
Character of Business Conditions.
Statements
of Failures back to 1857.
BANKING. FINANCE
•
—<
Premiums..
Expenses, Including
ments. etc
CROPS AND OTHER CHIEF PRODUCTIONS
Yield of Leading Crops, with prices of Agricul¬
tural Products.
Pig Iron Production and
Production
Coal
Anthracite
*
GOLD AND SILVER PRODUCTION.
Review
of the Production
of the Precious
Metals in all parts of the World.
Yearly
Silver quotations in
1837 to 1913.
Statistics back to 1881.
FINANCES IN 1912.
History of the Year, with Bank of England
statements.
Foreign Trade Statistics, &c.
BRITISH TRADE AND
FOREIGN EXCHANGE.
of interest of Six per
cent on the
TRUSTEES.
Highest
since
and
Lowest
Prices
of
State
Bonds
1860.
of
years.
and
Bonds—At New York Stock Ex¬
change for five years, viz.: 1908, 1909. 1910
1911 and 1912, and at Boston, Philadelphia,
Baltimore and Chicago Exchanges for the
1912.
Dividends—1903 to 1912 inclusive.
Securities .........
Special Deposits in Banks
o
Review.
provisions of Chapter 481,Laws
Reserve for
900.000 00
pay
4.299,426 04
of 1887)
—
Bills Receivable
ash in hands of
—
75,000 00
....
.......
Premiums
Claims not Settled,
sation ©tic
Certificates
592.766 69
Taxes
Re-insurance
including Compen-
of"Profits"Ordered Redeemed,
Withheld for Unpaid
Certificates of Profits
Premiums..—.
Outstanding......
$2,174,058 00
767,050 94
262,924 05
104,322 76
110,025 19
203,735 55
82,698 09
22,556 09
7.293,220 00
615.303 16
.................
European Bankers to
losses under
foreign countries
Unsettled
policies payable in
298,641 20
994,882 29
Cash in Bank.....-.--.----------
Temporary Investments
(payable Janu-
400,875 00
$13,623,851 38
$11,020,590 67
of.....----$2,603,260 71
of December, 1912, amounted to
*£0,804 99
December. 1912, amounted to
——
26,696 99
authorized in New York, on the 31st day of December,
amounted
257,ovU 00
Unexpired re-insurance premiums on the 31st day of December, 1912, amounted to—47,650 39
The Insurance Department has estimated the value pf the Real Estate corner Wall and
_
William Streets and Exchange Place In ezcess of the Book Value given above, at.....—.
450,573 99
And the property at Staten Island in excess of the Book Value, at———
.63,700 Qrj
Ifce Market Value of Stocks, Bonds and other Securities on the 31st day of December, 1912, ex_
ceeded the Company's valuation by
—
1,695,027 24
Thus leaving a
balance
Accrued Interest on Bonds on the 31st day
Rents due and accrued on the 31st day of
Re-Insurance due or accrued, in companies
1Q12
TEEMS.
Price of the Review, bound in cloth-— $2.25
Commercial
--------
and Trust
Real Estate cor. Wall and William Streets
and Exchange Place, containing offices
Real Estate en Staten Island (held under
Premium Notes
of Adjustment
Unterminated Risks—■ —
1,777,900 00 Certificates of Profits and Interest Un¬
paid
—
2,716,537 00
282,520 00 Return Premiums Unpaid.—
.......
...
in process
Premiums on
York City and New York Trust
Companies and Bank Stocks.........
Stocks and Bonds of Railroads...
year
RAILWAY AND INDUSTRIAL SECTION
The February 1913 issue of this important pub¬
lication (190 pages) is bound up with the
WILLIAM A. STREET,
GEORGE E. TURNURE.
LIABILITIES.
$670,000 00
......
.....
—
<
MONTHLY RANGE OF PRICES.
Stocks
Bonds
Companies
Range of prices for series of years.
LOUIS STERN.
Estimated Losses and Losses
State of New York
United States and
Other
RAILROAD STATISTICS.
Yearly construction and total mileage, capitali¬
zation, wages, passenger and freight statistics,
earnings, fixed charges, &c., for a series
WILLIAM J. SCHIEFFELIN.
WILLIAM SLOANE,
BALANCE SHEET.
ASSETS.
New
FOREIGN GOVERNMENT SECURITIES.
DOUGLAS ROBINSON,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
WALTER WOOD PARSONSV 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART, 4th Vice-President.
1912.
STATE SECURITIES.
DALLAS B. PRATT,
GEORGE W. QUINTARD.
ANTON A. RAVEN,
JOHN J. RIKER,
ADOLF PAVENSTEDT.
JAMES H. POST,
TRADE AND COMMERCE.
United States Imports and Exports for a long
series of calendar years; also by fiscal years.
Comparative Prices.
•
UNITED STATES DEBT AND SECURITIES
"Debt of United States since 1793.
Prices of
Government Bonds monthly since 1860.
CHARLES M. PRATT.
HERBERT L. GRIGGS.
ANSON W. HARD,
THOMAS H. HUBBARD.
LEWIS CASS LED YARD.
CHARLES D. LEVERICH;
GEORGE H. MACY,
NICHOLAS F. PALMER.
HENRY PARISH,
JOHN N. BEACH,
ERNEST 0. BLISS,
VERNON H, BROWN.
WALDRON P. BROWN;
JOHN CLAFLIN
GEORGE C. CLARK,
CLEVELAND H. DODGE;
CORNELIUS ELDERT,
RICHARD H. EWART,
PHILIP A. S. FRANKLIN;
COUNTRY'S
•
from which date all interest thereon
for the year ending 31st
application, certificates will be
^
FLOYD-JONES, Secretary.
legal representatives, on and after Tuesday the fourth of February next,
will cease. The certificates to be produced at the time of payment and canceled.
A dividend ef Forty per cent is declared on the earned premiums of the Company
December, 1912, which are entitled to participate in dividend, for which, upon
Issued on and after Tuesday the sixth of May next.
t
By order of the Board,
G. STANTON
.
Daily Prices in New York In
$91,649 80
563,285 21
outstanding certificates of profits will be paid to the holders
Tuesday the fourth of February next.
will be redeemed and paid to the holders thereof, or theL
thereof, or their legal representatives, on and after
The outstanding certificates of the issue of 1907
for
Series of Years.
London monthly from
A dividend
clerks' compensation, stationery, advertise¬
officers' salaries and
AND CURRENCY.
Dally Rates for Call Money in 1912 and Weekly
Range of Money Rates for Three Years
on all classes of loans.
Movements of New
York City Banks for each week in
1912:
also Trust Companies.
Prices.
of
Returns
&
138
Financial
Front
NEW
Street
YORK
Chronicle
Note:
^ the basis of these
increased valuations the balance
would be—............................$5,185,044 28
910
THE
CHRONICLE
[Vol.
jgcttst ©omjrauie*.
CHARTERED
United States Trust
45-47
Capital,
•
fgttjjiixeess.
1853.
Company of New York
WALL STREET
-
-
-
ENGINEERS
Surplus and Undivided Profits
$14,025,643 12
property, real
personal, for estates, corporations and individuals.
W.
WILLIAM ROCKEFELLER
ALEXANDER E. ORR
Chicago.
NEW YORK
-
San Francisco.
or
Alfred E. Forstall
STEWART, Chairman of the
London.
Charles D. Roblsea
FORSTALL
Board
WILLIAM M. KINGSLEY
WILLIAM STEWART TOD
OGDEN MILLS
EDGERTON L. WINTHROP
CORNELIUS N. BLISS JR.
HENRY W. de FOREST
ROBERT I. GAMMELL
CHAUNCEY KEEP
GEORGE L. RIVES
ARTHUR CURTISS JAMES
JOHN J. PHELPS
Exchange Place,
SHELDON, President.
WILFRED J. WORCESTER,
Secretary
CHARLES A. EDWARDS, 2d Asst.
Secy.
LEWIS CASS LED YARD
LYMAN J. GAGE
PAYNE WHITNEY
EDWARD W. SHELDON
WILLIAM H. MACY JR.
WILLIAM D. SLOANE
FRANK LYMAN
JAMES STILLMAN
JOHN CLAFLIN
43
Manila, Para, Buenos Aires,
Santiago, Chili.
TRUSTEES
JOHN A.
MANAGERS
-
FINANCIERS
Company acts as Executor, Administrator, Guardian, Trustee, Court
Depositary and in other recognized trust capacities.
It allows interest at current rates on
deposits.
It holds, manages and invests
money, securities and other
EDWARD
THE i. G. WHITE COMPANIES
$2,000,000 00
-
This
WILLIAM M. KINGSLEY, Vice-President
WILLIAMSON PELL, Asst. Secretary
xcvii.
AND
ROBISON
ENGINEERS
Investigations and Appraisals of Gas and
Properties for Owners or Financial
Institutions.
Electric
84 William
St.,
NEW
YORK
CITY.
C. G. YOUNG
More and
people
more
finding it convenient to keep their
Securities and other Valuables uptown instead of downtown.
The
Plans, Methods, Examinations
Public Utilities and Industrials
Union
Trust
Company of New York
offers
unexcelled
facilities at moderate prices in the
uptown vaults of the Union
Safe Deposit Company.
At Fifth Avenue and Sixtieth Street
"social
who
Engineering and Construction
are
centre"
of
New
REPORTS FOR FINANCING
Bankers Trust Bldg., New
Alex. O.
they
are
very near
York, and convenient for
most
Humphreys
York
Alto* S. Millar
the
people
HUMPHREYS & MILLER,Inc
live uptown.
ENGINEERS
Inspection and patronage
are
Power—Light—Gas
invited.
.
165 BROADWAY
NEW
YORK
pcittittg Engineers.
H.
CHICAGO
Capital and Surplus,
$15,000,000
&
CO.
COAL AND MINERAL PROPERTIES
Examined, Managed, Appraised
Drexel
Pays Interest
M. CHANCE
Mining Engineers and Geologists
Bldg.
PHILADELPHIA, PA.
Time Deposits, Current and Reserve
Account^
Deals in Investment Securities and
Foreign
on
Exchange.
Transacts
a
General
Trust
Business.
PARK, POTTER & CO.
CORRESPONDENCE
INVITED
CERTIFIED
PUBLIC
ACCOUNTANTS.
New York,
Chicago, Cincinnati and
London, England
Mellon National Bank
AUDITORS FOR FINANCIAL INSTITU¬
TIONS, INDUSTRIAL AND
MINING COMPANIES.
Investigations, Financial Statements,
Periodical Audits and
PITTSBURGH, PA.
Accounting,
8-26
3%
on
RESERVE ACCOUNTS
is paid
by this bank
Correspondence
CAPITAL,
is invited
$6,000,000
Adrian H. Muller & Son
AUCTIONEERS
Regular Weekly Sales
OF
STOCKS and BONDS
Acts
EVERY WEDNESDAY
as
Executor,
Trustee,
Administrator,
Guardian,
Receiver,
Registrar and
Transfer Agent.
Interest allowed
oh deposits.
Girard
Trust
Company
PHILADELPHIA
Office, No. 58 WILLIAM STREET
Corner Pine Street
Chartered 1836
CAPITAL and
E. B.
SURPLUS, $10,000,(
Morris, President.
B. W. Strassbur2cr
SOUTHERN INVESTMENT SECURITIES
MONTGOMERY, ALA.
@FedFRASER