Full text of Commercial and Financial Chronicle : September 28, 1907, Vol. 85, No. 2205

View original document
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
T

o

n

t m

f i t r a

V

e

n

r i a

l

r c i H

IN C L U D IN G
B a n k a n d Q u o t a t i o n S e c t i o n (Monthly)

S t a t e a n d C i t y S e c t i o n (semi

R a i l w a y a n d I n d u s t r i a l S e c t i o n (Quarterly)

S tre e t

VOL. 85.

1907.

T erm s o f S u b scrip tio n — P ayable in A d v a n ce
F o r O n e T e a r ..................................................................................................... $10 00
F o r S ix M o u th s ...........................................................1.......................................
(i 00
E u r o p e a n S u b s c r ip tio n (in c lu d in g po stag e)............................................... 13 00
E u r o p e a n S u b s crip tio n six m o n th s (In c lu d in g p o s ta g e ■
........................
7 50
A n n u a l S u b s c rip tio n in Lon do n (in c lu d in g p s ta g e )............................. £ 2 14s.
S ix M o n th s S u b s c rip tio n in L o n d o n (in c lu d in g po sta g e )........................£1 11s.
C a n a d ia n S u b s c rip tio n (in c lu d in g p o s t a g e )...............................................$1.1 50
S u b s c rip tio n in clu d e s fo llo w in g S up p le m e n ts—
B 'nk

a n d Q u o t a t io n (m o n th ly )
a i l w a y a .s d I n d u s t r i a l (q u a rte rly )

j S t a t e a n d C i t y (sem i-annually)
! S t r e e t R a i l w a y (3 tim e s yearly)

T erm s o f A d vertisin g — Per Inch S p ace
T ra n s ie n t m a tte r per in c h space (1-1 agate lin e s )........................................
r T w o M o n th s
{* tim e s )..............................
<?r»ndim- B usin ess C ards ) T hree M o n th s (13 tim e s )..............................
b t a n m n 0 b u s in e s s c a r d s
s ix M o n th s
(26 tim e s )..............................
T w elve M o n th s (52 tim e s )..............................

$4
22
29
50
87

20
00
00
00
00

C H I C A G O O F F I C E —P . B a rtle tt, 513 M o na dn o c k Block; Tel. H a rr is o n 4012.
L O N D O N O F F I C E —E dw ard s & S m ith , 1 D ra p ers’ G ardens, E . C.

W I L L 'A M
P . O. B o x 9 5 8 .

B . D A N A C O M P A N Y , P u b lis h e r s ,
P ine S t., C o rn e r o f P earl S t.,
N ew Y o r k .

P u b lis h e d every S atu rd a y m o rn in sr by W I L L I A M B . D A N A C O M P A N Y .
"W illiam B . D a n a , P re siden t; Ja c o b S eibert J r . , Vice-Pres. a n d Sec.; A r n o ld
G . D a n a . Treus. A ddresses o£ a ll. Office of the C om pany.

CLEARING HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
th a t the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$2,498,509,415, against $2,712,673,058 last week and
$2,942,004,917 the corresponding week last year.
Clearings— Returns by Telegraph.
Week mdisng Sept. 28.

Per
Cent.

15)07.

1906.

New Y o rk _________________________
B o s to n _____________________________
P h ila d e lp h ia _______________________
Baltimore_____ -____________________
Ch c a g o ...............................................
S t. Louis__________________________
New Orleans_______________________

$1,146,594,910
102,885,910
108,908,511
21,758,481
208,244,442
51,161,514
14,012,387

$1,543,014,979
112,515,666
117,917,396
20,489,019
178,418,183
45,103,248
14,531,986

— 25.7
— 8.6
— 7.6
+ 6.2
+ 16.7
+ 13.4
— 3.6

■Seven cites, 5 days______________
Other cities, 5 d a y s ______ ________

$1,653,566,155
418,974,619

$2,031,990,477
364,019,488

— 18.6
+ 15.1

Total all cities, 5 days__________
A H cities, 1 day ____________________

$2,002,540,774
425,968,641

$2,396,009,965
545,994,952

— 13.5
— 22.0

Total all cities for week.................

$2,498,509,415

$2,942,004,917

— 15.1

The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon 011
Saturday, and hence in the above the la«t day of the week has
to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur
day noon, Sept. 21, and the results for the corresponding
week in 1906, 1905 and 1904 are also given. Contrasted with
the week of 1906 the total for the whole country shows a
loss of 13.9%. Outside of New York the increase over
1906 is 7.2% .
Week ending September 21.

- I—

Clearings at

1907.

New Y o rk ...........
P hila delphia ____
P ittsburgh______
B a ltim o re ______
Buffalo__________
A lban y __________
W a s h in g to n ____
R ochester______
Scranton _______
.Syracuse_____
R e a d in g _______
W ilm ing ton _____
Wilkes-Barre . _
W h e e lin g ______
E r i e ____________ i
Greensburg_____
Chester ...............’
B ing h am to n ____<
F r a n k lin ........._.j
H arrisb urg _____ 1
Y o r k ...................j
Total MkWie

Inc. or
Dec.

1904.
1905.
j____ ________
%
$
%
%
1,577,612.040 2,092,499.434 — 24.6 1.596,273,951 ‘ 1.199,072,871
131,175.572
— 6.6
140,406,385
134,185,037 i 108,356,530
47,756.599
48,788,878
+ 2.2
46,359,970
39.599.226
27.994,609
25.951,046
+ 7.7
24,972,0471
19,679.030
8,256,102
7,308,402 + 13.0
6,727,091
6,183,473
5,325,943
5,770,938
— 7.7
4,464,988 l
4,341,187
5.377,217
4,753.494 + 13.1
4.525,200
3,476,087
3.528,971
4,470,325 — 21.1
2,936.571
2,249,104
2,037,791
2,051,635
1,801,401
+ 0.7
1,584,287
2,029.378
2.224,871
+ 9.6
1,083,002
1.599,471
1,369,268 — 10.5
1.226,108
1,043.794
978,491
1.315,072.
1.177.654 + 11.7
1,091,379
927,159
1,20?, 388'
1.114,147; + 8.5
964,216
741,661
1,330,784
897.9811 + 48.2
830,917
704,654
589.210 + 24.4
732.998
536,715
437,548
541.961 + 53.9
833,956
474,312
361.864
546,556 — 15.1
464,005
450,017
375,137
493,300
425,100 + 16.0
476,000
355,800
258,610
256,923
358,644
183.319
+ 0.7
1,150.184
1,049,308
+9.6
795,165 Not included |In total
1906.

J 4^21,350,24312,340,951.910




— 22.2 1,830,071,721 1,390,690.430

NO. 2206.
Week ending September 21.

Clearings at—

C lir o t tic lje .

PUBLISHED W E E K LY .

'J

o e Tixrwssi
S e c t i o n ( T h rYeasfcr

SATURDAY, SEPTEMBER 28 1907.

^ Ix je

K

R a ilw a y

1906.

Inc. or
Dcc. j
1905.
1904.
cr
$
*
!
135.815.429
— 4.5
111,363,337
— 5.0
6.426.600
5.876,900— 3.7 !
2,425 894
2.433,948
1,925.773
+ 8.6
1.674,520
+ 19.8
1,662 178
1,555,656
+ 10.2
1,546.359
1.390,187
— 1.3
1.544.157
1.045,243770.206
+ 11.5
423.925
462,269
+ 18.9
353.111
— 5.7
397,057
458,656
— 0.9
402 717
440.040
— 3.7 153,378.639
127,015.563
+ 16.7 202.236 1.31
170.712,279
+ 10.5
21,764.900
23.898,500
+ 12.8
15,493,442
12,140,220
+ 7.0
11,572.446
9.921,057
+ 18.9
8,395.159
9.307,374
+ 8.6
6,010.006
7.003,033
+ 6.3
4,697.500
778.300
+ 15.0
3,898,723
3.333,977
+ 7.9
3,238,199
3,293.733
+ 9.1
2,139.966
1.964.714
— 2.1
1,664,838
1.477,773
+ 37.1
1,557,9L4
1.113,833
+ 9.1
790.844
718,876
— 2.9
782,931
796,148
— 6.6
510,00#
515.000
+ 10.2
659.838
+ 0.9
462.091
509.903
+ 4.7
806.047
408.386
+ 15.5
360,165
+ 7.1
460.923
453.693
+ 24.7
526.789
485.297
+ 14.5
298.289
303,046
+ 0.7
338.716
301,262
+ 56.9
383,084
425,468
— 0.4
277,57!)
178,669
+ 7.3
320,670
252,337
+ 3.0
247.00^
259.419
+ 31.2
230.777
196,252
— 3.4
89.796
79.517
+ 14.6 290,211,297 254.S28.066
— 1.5
36.307,900
30.958,369
— 3.3
9,928.182
5.663.582
— 12.1
6,259,349
4.538,077
+ 21.3
5,708,921
4.241,084
+ 14.7
4,219,94.!
2.791,250
+ 41.7
3,087.731
2,.505,916
+39.1
3,420 274
2.364,406
— 10.8
+ 11.1
842,666
509,815
+ 30.1 V
614,225
478.083
— 4.4
+ 71.2
330.275
388.-589
+ 3.5
70,719.465
54.439,171
+ 30.6
24,037-960
23.115,028
+ 29.9
20,634,19.'!
23,893,892
+ 32.0
8,359.046
8.063,708
1.3
7,727 407
6.584,200
+ 32.6
7.101,564
5.584,377
— 3.1
4.508.241
4,212.302
+15.4
2.569.548
2.773.275
+ 28.3
1,415,781
1.331,994
+ 8.4
1.101.061
1,109.547
+ 15 0
+ 14.7
802.968
S76.902
+ 9.7
488.71::
585.925
+ 33.1
658.303
440.178
+ 17.6
509,769
292.317
+ 29.9
495.468
+ 72.3
190.099
241.277
+ 24.3
80,304.18'i
79.670.883
+ 12.7
48.475.173
51.0S1.820
+ 21.6
13.097,696
14,393.074
— 10.8
9,757.057
9,887,948
+ 13.1
11,884,515
10.481,493
— 11.5
6,742,000
6,364,500
— 4.4
6,685,927
6.075,087
+16.9
4,678.189
4,337.744
+13.7
4,395,934
2.710,311
+ 48.3
2,782,042
2.370,731
+ 16.6
3.634,743
3.671,915
+33.4
2.135,316
1.682,286
+ 11.5
2,275,522
1.667,028
+10.7
1,582,689
1.219.208
+ 34.5
3.039,392
2.258,181
— 8.0
1,211,5281
+ 23.4
1.255,241
1.240,657
+ 6,8
965,442
688,691
+ 27.4
832,842
701,015
+ 22.3
1,400,312
1.211,743+ 51.5
854,063
698,206
+ 19.3
728.523
718.341
+ 10.0
417.343
347.936
+ 40.8
+ 3.3
____
+ 11.8 128,572,726
124,707.915
— 13.9 2,553,202,798 2,931,356,02.8
+ 7.2 956,928.842 832.273.157

$
$
B o s t o n ________
146,884,207 153,817,363
Providence . . .
6.654.700
7,008,100
H a rtfo rd _______
3,108,213
2,993,747
New H aven_____
2,465,888
2,269,266
P o rtla n d _______
2,236,544
1,866,914
Springfield______
2,011,342
1,825,334
Worcester...........
1.579,272
1,600,780
Fall R iv er______
871,160
781,211
New Bedford____
742,090
624,067
Holyoke
_____
466.097
494,011
L o w e ll________
468.941
473,425
Total New Eng.
173,868,684
167,373,988
246,654,423 211,345,885
C hicago________
C inc in na ti__
.
27.515,100
24,898,150
17,885,613
Cleveland . .
15,856,330
Detroit__________
14,580,941
13,620,793
11,922,264
Milwaukee______
10,024,819
In d ian a p o lis____
7,772,039
7.158,107
5,346.600
C o lu m b u s ______
5.028,000
Toledo__________
4,343.722
3,776,194
P e o r ia __________
2.975,157
2,758,166
Grand R a pid s__
2,192,542
2,392,345
1,776,606
D ayton _ ___ _
1,814,528
2,036,370
Evansville _____
1.485,548
K a lam a zoo____ ■.
1,029,198
943,424
885,831
Springfield. Ill- _
912,387
715.000
A k ro r i__________
765.945
809,832
Fort W a y n e ____
734,721
625,000
619,321
R o c k fo r d ______
586,413
560,301
Lexington ____
525,000
South Bend _ ._
454,508
482,463
Canton. _
___
450,652
556,448
446,160
Youngstow n____
432,343
Quincy. 1_______
377,540
381,332
Springfield, Ohio
378,858
Bloomington____
578,795
368,957
362,672
364.222
Mansfield____
489,838
D e c a t u r __
456.569
283,423
275,263
Jacksonville, 111.
325.003
247.641
Jackson ________
A nn Arbor______
115.865
119.944
354,385,636 308,435.475
Tot. Mid.W est.
44.090,329
44.750.071
San Francisco. __
11,256,889
11.641,008
Los A n gele s... .
11,681,973
10,269,457
Seattle ________
7,448,669
6,139.290
P o rtla n d __ ____
6,300,106
5,491,666
SaltLake C ity___
4,014,563
6,538,441
Spokane________
5,251,684
3,774,878
T acom a________
3,190,344
2,846,917
O a k la n d .. _ . .
993,066
894,057
Helena ________
449,301
584,635
F a r g o __________
550,274
575.361
San Jose
379.593
650.000
Sioux F a lls _____
96,780.467
93,528.105
Total P acific..
28,092,452
Kansas C i t y ____
36,695,517
25,587,604
19,698,378
Minneapolis_____
12.239,662
9.271,019
O m aha__________
9,303.354
St. P a ul________
9,183,547
9,445,544
7,123.074
D enver.. ____ _
4,758,145
4.911.347
St. Joseph______
2,436,062
2,812,205
Des Moines. _c___
2,296.474
1,789,223
Sioux C ity______
1.289,512
1.189,730
W ic h ita ________
1.294.891
1,126,020
Lincoln ________
1.134,826
Davenport___
989,699
979,084
892,4*7
T o p e k a ...............
790,142
593,810
Colorado Springs
568,751
483,493
Cedar R a p id s __
633,105
487,416
Pueblo
F r e m o n t.......... . ______ 428.567
248.721
Tot. otli.W est.
110.137.576
88,636,285
61,837,076
St. L o u te _______
54,865,845
16,705,949
New Orleans____
20,309,295
13,084,163
11,670,213
L o u is v ille ______
14,291,440
12,637,292
Houston _. ___
Calves t o n ...........
6,940,000
7,845,000
5,826.12s
5,571,836
Savannah
5,504,898
6,436,055
Richm ond _____
4.211.079
4,788,899
A t la n t a ________
3,312.868
4,912,477
N a s h v ille ______
3,137.838
3,657.625
M em phis_______
2.987,738
3,985,633
Fort W o rth _____
2,516,156
2,255.968
N o rfo lk ________
1.896,599
2.100,000
B irm in g ham ____
1,807,842
2,431,368
Augusta________
1,442,086
1,327,412
Mobile .
1,443,218
1,780,441
K n o x v ille ______
1,118,393
1.194,120
Jac k son v ille ____
1,573.643
1.234,847
C h a tta n o o g a ___
1,325,023
1.083,423
Charleston______
1,396,023
921,470
Little R o c k _____
773,789
648,432
M a c o n __________
412,500
375,000
Beaumont _____
964,946
685.415
O k la h o m a ______
449.178
435,000
W ilm ington, N . C
145,466,521!
Total Southern 162,645.148
Total a ll........... 2,712,673,05S 3 ,150,886,950
Outside N. Y . . 1,135,061,018| 1.058,387,516;
Canada—
M o ntre al_______
28.790.3781 + 13.3
32,609.365
21.402.18M
Toronto ______ ’.
20,431,193
+ 4.8
10,949,176!
W innipeg_______ i
+ 3.2
10,607.711:
Vancouver----4.597,4031
3,240.208 + 41.9
O t t a w a __ ■
_____
3,250,301'
2,SOI.496 + 16.0
Quebec.................
2,134,6411
1,707.888: + 25.0
H a lif a x ...............!
1,783,6951
1,581.950, + 12.8
H a m ilto n ............
+ 6.3
1.739,138
1,636,7^2
St. Jo h n ...............
1,257,557i
1,286,124; __2 °
L o n d o n ...............i
+ 4.0
1,105.610!
1,160,317
Victoria .............
829,721 + 47.1
1,220.550
C a lg a r y ...............
1,176,118
979,8011 + 20.0
737,114i + 11.6
822,910|
E dm on ton ...........
Total Canada.!
84,093,359! , 75.735.9911 + 11 ol

27,471 165
19,857.14(
6.331.454
2,084.005
3,066,260
1,544,492
1,774.4*2
1,633.766
1,044.530
952.S20
911.693
66.671 798

21.306.292
16,321.349
*.729,382
1.735,111
2.297.543
1,541.957
1.710.135
1.128.303
i 051,894
*26.665
565.650
54.sYr.2si-

756

THE CHRONICLE.
THE F I N A N C IA L S IT U A T IO N .

Foremost among the financial events of the week
has been the National Bankers’ Convention held at
Atlantic City. The gathering has been a large one,
though it has been suggested that it would have been
even more numerously attended had it not been for
the fact that the appointment of the meeting fell at a
time when the Southern and Western members and
friends were to some extent detained from coming
because the crops are just beginning to move freely,
and hence making the home demands of their business
especially pressing. All products of the soil were later
than usual at the start; but the movement to market
being now well under way and at a rapidly expanding
rate, it is an exceedingly unpropitious time to be
absent, not only for those living in the planting and
farming sections, but for all in the neighborhood
having close connections with them.
Still, the meeting has been large and highly inter
esting. It would be difficult to get a more attractive
place than Atlantic City for such a gathering. With
lodgings for all, however big the crowd or varied the
demand; with “outdoors'’ limitless, having the ocean
at one’s feet; with facilities for walking or riding on
as smooth a roadway as ever was contrived, providing
entertainment and exercise for every comer, whether
healthy or dyspeptic— with these surroundings it is
no surprise that a convention of experts handling
subjects, practical and theoretical, of vital importance
to all industrial interests, should have made the meeting
not only agreeable but successful. Next week we
shall publish our “ Bankers’ and Trust Supplement,”
which will contain full details of all the addresses and
proceedings of the convention. It will prove an ex
tremely interesting record.
Overmuch is quite frequently made of the item of
larger or smaller farm products in summarizing the
influences which contribute to make a year’s business
prosperous. Good crops are no doubt better than
short crops in many ways. There have, however,
been many occasions when of two concurrent years
the one which produced the smaller yield of the food
items has been the one more generally advantageous
for the public.
We refer to this point because so many writers have
been assuming that every bar to progress on this
occasion had been removed a week ago by the previous
two or more weeks of favorable weather conditions,
while nearer the close of the week overmuch harm
was claimed to be caused by frost in the corn section.
Consequently the public looked forward to the with
drawal of all our present disabilities in the first in
stance, and later were greatly disappointed to find
their expectations blighted and a reverse setting in
instead of the prosperous uplift their hopes had pic
tured. The last half of the current week had hardly
begun when affairs were found to be in a tangle again and
lower values and a phenomenally stagnant market the
prevailing conditions.
Ever-recurring cycles of depression ought to serve
as an experience giving the public a clearer insight
as to the nature of the influences at work disturbing
industrial affairs. The regularity with which the de
pressions return asserts that the controlling influences
are not superficial or ephemeral, but that they are




[V o l .

lxxxv

.

basic and that they will not cease until the cause s
removed.
1
Last week we reported a sensitive feeling in London,
which was reflected in securities, because of the suc
cessful competition of French and German bankers
with the Bank of England for the Cape gold that was
then offered in the bullion market. On Saturday of
last week $2,400,000 gold was withdrawn from the
Bank for export to Egypt, Italy, Constantinople and
Roumania, and on Monday the Bank of England se
cured only $250,000 of the Cape gold out of the $3,000,000 offered, the remainder being distributed
chiefly between France and Germany. The compe
tition of the above-noted Continental countries with
the Bank for the Cape gold not only caused no derange
ment in London, but the market price of the metal
was reduced on that day % of a penny per ounce.
It would seem from these incidents that the apprehen
sion which was felt last week because of Germany’s
competition with the Bank for the South African
bullion has been at least partially allayed, and,
moreover, that the withdrawal from the Bank of Eng
land of the metal for shipment to Egypt and Southern
Europe is regarded with unconcern, for open market
discounts were only fractionally advanced.
The reason for this comparatively slight apprehen
sion regarding Germany’s purchases of Cape gold
probably is that the fact is recognized that the Reischbank’s need for gold for the reinforcement of its re
serves is so great that if attempts should be made by
the Bank of England to obstruct the purchase of the
metal, through the imposition of a greater premium
on the gold or through a higher open market discount
rate, the Reischsbank might be forced to outbid the
Bank of England or to raise its official rate, which lat
ter course would cause serious discount derangement
in Europe. Very likely it is understood, as stated by
a London financial paper, that the German Bank’s
requirements can be satisfied through the procure
ment of a comparatively small additional amount of
the metal; the Bank of England can conveniently
spare this sum, now that its reserve has been increased,
and therefore it does not seek to check the movement
to Germany. The Austro-Hungarian Bank is also
seeking to augment its reserve, and it is requiring the
repayment by the Reischsbank of the advances which
it made thereto; hence, such repayment would con
tribute to relieve the situation at Vienna. The Reichsbank is expected largely to increase its note circulation
at the end of September, but the new issues will soon
thereafter begin to return, so that, if there shall be an
improvement in its reserve now, the need therefor
will be only temporary. The absence of concern re
garding the withdrawal of gold from the Bank of Eng
land for export to Egypt seems quite natural; the Bank
has been expecting such movement and it has made
preparations therefor. Moreover, the Bank of France
will probably provide its quota of the metal for Egypt,
so that the strain will not be wholly on the British
Bank.
It may be observed that the German situation is not
generally regarded with confidence. The Berlin corre
spondent of the London “ Economist” , under date of
September 11, says that “there is apprehension that
the Reichsbank will have to raise its rate soon. . • •
Besides this, other factors are coming into view which

S e p t . 28 1907,]

THE CHRONICLE,

reverse the indulgence of optimistic hopes regarding
the future of the market. The heavy advance in grain
prices is noted with some concern by bankers, as a cir
cumstance likely to affect the money situation; an
other matter that is attracting attention is the circum
stance that an unusually large number of bills at Berlin
are now going to protest. This shows that commercial
people are experiencing difficulty in raising working
•capital, a conclusion that has been unpleasantly re
inforced by a marked increase in the number of business
insolvencies since the beginning of the month. These
are occurring in various branches of trade, both in the
provinces and in Berlin, and in nearly all cases the
suspensions are explained as caused by the impossi
bility to raise working capital, while the bankers who
had extended credit to the concerns in question, it is
further added, are amply protected. The volume of
bills offering for discount remains heavy. While
these had been coming chiefly from provincial centres,
it is now remarked that Berlin houses are making de
mands upon the market.”
In view of the above assertion, it would seem that
there is urgent need not only that the Reichsbank
should be relieved through the adoption of a liberal
policy by the other great banks of Europe, but that
there shall be, if possible, the avoidance by these
banks of any measure for self protection which will
have a tendency to cause derangement to German
commercial interests.

757

trade in general, with the reservation, however, that in
spinning branches the margin of profit has been greatest.
Notwithstanding rather disappointing results from
the efforts thus far made to obtain increasing supplies
of raw cotton from countries other than the United
States, evidence is not wanting that users of the staple
in Great Britain and on the Continent have not lost
faith in the project and are giving it every encourage
ment. This is not surprising, under existing circum
stances; and yet it is hard to figure out how any ap
preciable measure of success can be attained for years
to come. From one season to another the supply from
new territory increases; but a few thousand bales is
but a drop in the bucket with European consumption
measured by millions.
That efforts should be made to reach a point where
foreign consumers would be less dependent upon the
United States as a source of supply is not surprising.
Developments the last few years at the South are
more or less responsible. Of course no one w ill ques
tion the right of the planters to obtain as high a return
for their product as they can by any legitimate means.
But to arbitrarily fix a price at which cotton shall be
sold that neither the crop outlook nor trade conditions
warrant is objectionable for economic reasons and sure
to work more harm than good. That step has been
taken in other years and failed, and will fail as often as
attempted. This year the fixed price, as announced, is
15 cents per pound for middling uplands, and in Ar
kansas there is to be an advance of 34 cent in each suc
ceeding month after the first.
Fear engendered by the action of these farmers’
trusts has been, and is still, the incentive back of the
efforts to secure new sources of supply. The point
has now been reached where bonuses are offered to
cotton raisers. Such action was taken in Australia
recently, the desire being to encourage the raising of
cotton in that country and especially in the Northern
Territory, where it now grows in a wild state. In
Colombia, South America, bounties are also offered
as a stimulus. The Korean Government is experi
menting with American upland cotton, with the inten
tion of extending the cultivation of the crop through
out South Korea. [It is estimated that the country
now produces annually about 200,000 bales of 500
pounds average net weight.] In Asia Minor, where
cotton was cultivated on a fairly large scale during
our Civil War, but was later neglected for other crops,
efforts are being made to revive the industry. It is
stated, furthermore, that steps are now being taken in
Lancashire to develop the cultivation of perennial
cotton in India. This is what is known as “Spence tree
cotton,” and it is claimed by Mr. Spence, who lias
successfully carried on its culture at Deesa, that if
only one-third of the Indian cotton area were so planted,
exceedingly satisfactory results would be attained. The
various cotton-growing associations, undaunted by
indifferent success, are, furthermore, continuing their
efforts in new African fields. Altogether, it is possible
that in the not distant future all these new or com
paratively new fields will furnish an amount of cotton
sufficiently large to check attempts to substitute
dictum for the ordinary laws of supply and demand.

Results indicative of the profitable nature of opera
tions in the cotton goods industry of Great Britain in
1906-07, and therefore confirmatory of what we said
on the subject in our recent annual review of the trade,
were made public last week at the annual meeting of
the Calico Printers’ Association of Great Britain.
That association, it will probably be remembered, was
formed in 1899 to rescue the printing branch of the
cotton goods industry from the demoralized condition
into which it had fallen as a result of ruinous compe
tition. For a time faulty management and depression
in trade, resulting primarily through the South African
war, militated against really profitable operations.
But the last two or three seasons, with good trade con
ditions prevailing and the business better conducted,
quite satisfactory results have been attained. It was
pointed out at the annual meeting that not only had
a greater number of pieces of goods been printed in
1906-07 than in any previous year, but the work had
been done better and more economically. Further
more, the net profits for the year ending June 30 1907
had been of record proportions, reaching £424,041,
and exceeding the return for the previous year by
£70,001. From the net profits dividends of 634% on
the ordinary shares and 5% on the preference stock
were paid, making an average of 5 ^ % on the com
bined capital; whereas in 1905-06 the return to share
holders was but 4% , and in each of the two previous
years only 2 ^ % . The outcome of the 1906-07 op
erations consequently stand out as conspicuously
satisfactory, and probably more so than expected.
But demand for printed goods for export was active
all through the season, shipments exhibiting an in
crease of nearly 100 million yards over the 1905-06
total. As already stated, this showing made by one
We publish in detail the result of each call made
branch of the cotton goods industry in Great Britain may
be taken, we believe, as reflecting the condition of the on the national banks by the Comptroller of the




758

THE CHRONICLE

Currency for their reports at as early a date as we
can procure the full figures. . The abstract of the
August 22 returns reached us Monday of this week
and we devote a page to them (page 770) to-day
The statement is not without interesting features.
While in distinctively financial circles attention is
more particularly directed to the condition of the
reserves at reserve cities, the country just at present
very likely will find greater interest in the evidence
disclosed of the steady, if not to say rapid, extension
of banking facilities in the smaller cities and somewhat
sparsely settled sections of the country. The small
bank, starting with the minimum capital of $25,000
and organized to serve localities theretofore without
banking facilities has been and will continue to be
the agency second only in importance to the railroad
in building up bustling little towns all over the West
and South. And in this latest abstract we find con
clusive evidence that many of these small banks
came into active existence during the period between
calls— May 20 to August 22. During that interval of
three months, we learn from the statement now before
us that the addition to the capital stock of the national
banks aggregated $12,760,397 and our own investiga
tions indicate that of this total fully five millions
represents increases in the capital stock of old institu
tions. This leaves, therefore, approximately $7,500,000 as the increase in capitalization through the new
banks which had begun business.
Those new banks numbered 115, and it does not
require extesive calculation to learn that the average
capital was less than $70,000. In fact, 18 of the
institutions, located in the larger communities, con
tributed about $4,000,000 of the gain. Of the re
maining 97, over two-thirds started with the minimum
capital allowance of $25,000. These were largely in
the West and South, where they were needed. More
over, since the date of the latest call (August 22) the
matter of organizing or applying for permission to
organize has been active. Looking over our files we
ascertain that of banks organized before the date of
the August call, but not included in it, and those
organized since, including data down to September 21,
the number is 74, representing an aggregate capital of
$3,260,000. Those banks are quite well distributed
over the country: 24 in the Middle States, 14 in the
Middle West, 23 West of the Mississippi River and 13
at the South. At regards capital, 44 start with
$25,000, 5 with $30,000, 1 with $35,000, 17 with
$50,000, 1 with $75,000, and 6 with $100,000 or over.
Carrying our investigation further, we find the number
of banks whose applications have been approved, but
the organization of which has not yet been perfected,
reach the important total of 128 [eighty of which
will organize in the $25,000 class], and 91 of
them are Western or Southern institutions. Further
more, a large proportion will furnish initial banking
facilities in the communities in which they are to
locate.
B u t there are other features of the latest condition
report that warrant passing comment. Among these
may be mentioned the fact that, notwithstanding the
adverse factors at work, the volume of loans shows an
augmentation of 47J-4 million dollars over the total as
it stood on May 20, and consequently marks a new
record. Money holdings, also, are of heavier aggregate
than ever before, exceeding the total at the time of




[V o

l

.

lxxxv

.

the previous call by approximately ten million dollars
and exhibiting an increase over January 26 1907 of
six millions. Silver made up a greater portion of the
whole in August than in May, gold holdings dropping
from 423 millions to 405 millions. Deposits record a
decline from the May 20 aggregate of $23,494,784, bur
of this only $3,844,739 represents the falling off in in
dividual accounts, withdrawals by the United States
Government constituting the remainder. The situa
tion of the banks as regards capital and surplus fund
is one of steadily growing strength. On August 22
these two items combined for all the banks gave a
total of $1,444,754,916, against $1,418,455,546 on
May 20 and $1,325,311,920 on September 4 1906, of
which the reserve cities contributed 662 millions in
August, 652 millions in May 1907 and 60H millions
September 4 1906.
The railway and business world has experienced
another loss in the death of Samuel Sloan, who, al
though retired from active work, was still not too old
for counsel. Born in a village in Ireland in 1817 and
brought to New York when not a year old, he grew up
a genuine American and New Yorker. In 1832, when
not yet 16, his father’s death forced the lad to give up
his expected collegiate education and set to work to
earn his own living, which he began doing as the lowest
of the junior clerks in an importing house on Cedar
Street. Pie staid with this firm a quarter-oentury,.
and after an unsuccessful candidacy for Congress and
one term in the State Senate, he turned his attention
to the railroad business,which proved his life field.
From the directorate of the Hudson River road, which
he assumed in 1855, he went into that of the Lacka
wanna soon after the close of the Civil War; he became
its President in 1867 and remained such until March
of 1899. When he took charge of it the road was only
an insignficant coal road; during his incumbency it
grew to pay nearly 60 millions in dividends. At vari
ous times Mr. Sloan was President of a number of
other railroads, besides being on the directorate and
the executive committeeship of many city financial
and other institutions.
A few brief sentences thus sketch the chief outlines
in a very busy life, crowded with activities, which
were attended to with an old-fashioned method and
punctiliousness. While less aggressive and less promi
nently before the public than some other railway execu
tives, Mr. Sloan was of one of a class of men whose
lives are given to creative work, and are content to be
absorbed in their work and personally overlooked
for its sake. Such men are constructive, not de
structive. They are not theorists, except so far as
theory may be conceived to be the application of
established principles to broad lines of development.
If they enrich t hemselves incidentally, it is by a mere
tithe of what they confer upon the population at large,
unnoticed, unthanked, and often misunderstood. To
lead an attack upon what they have patiently con
structed may be a title to popular applause and a
notoriety which is both loud and wide: but. it lacks
the elements of a permanent fame. The man who does
things worth doing, the man who achieves a business
success by finding something to do for industry and
raising the average scale of living by enlarging the list
of things obtainable by the mass of the people -is not
he among the benefactors of his rime?

Sept.

1907. |

THE CHRONICLE.

As we recall saying long ago of Abram S. Hewitt. It
is not at all certain, that he who turns from a collegiate
term, or he who is constrained by circumstances to
abandon a collegiate course, in order to lead a life of
active business, does not live as worthily and take as
useful a part as other men on whom Fortune seems
to have smiled by granting their wishes. When the
country is older and judgments have been more de
liberately made, it may be that the business man (of
whom Mr. fc?loan was a type) whose work is construc
tive, sound and lasting will be ranked among the
leaders most worthy of fame.
There was no change in official rates of discount by
any of the European banks this week; compared with
last week unofficial, or open market, rates were /l 8
of 1% higher at London and
of 1% lower at Paris,
at Berlin and at Frankfort. The end of the month
settlements on the London Stock Exchange were
effected without derangement or any special advance
in the contango rate except in that for copper.
The only feature of interest in the New York bank
statement of last week was the unexpected increase
of Al/2 millions in the cash holdings; this was regarded
as due principally to the bringing over into that week
of previous gains in this item which had not been
shown in the averages. The movement of currency
to the interior has been important this week; transfers
to New Orleans, through the Sub-Treasury, have
amounted to about $1,000,000 and those to St. Louis
to $500,000. These transfers would seem to indicate
comparatively large direct shipments by local banks.
The market for call money was abnormally influenced
during the week by the temporary deposits of funds in
banks and trust companies by railroad and other cor
porations in anticipation of the distribution, on and
after October 1st, of dividends and interest. The de
mand was not sufficiently urgent to absorb the offer
ing of these funds, and consequently rates ruled low.
There was some augmentation, though slight, in the
holdings of public deposits by the local banks last
week; these deposits have been increased this week by
about 3
millions in all the depositories throughout
the country, and it is understood that the greater part
of this increase has been distributed among commercial
institutions in this city. There is said to be less dis
crimination than was the case early in the month
against railroad bonds as pledge for public deposits;
now not only these securities but State and municipal
issues are freely accepted and the New York City
4X
A % bonds have provided collateral for Government
J'unds for depositories in distant localities, the bonds
for this purpose being borrowed through the corre
spondents of these interior banks. One feature of the
money market is the increased business in commercial
paper. The ruling high rates therefor have induced
purchases by small banks in this State and in neigh
boring cities, and a comparatively large amount, in
the aggregate, has thus been absorbed. The demand
for collateral loans for fixed periods is confined to
short maturities; borrowers look for easier rates after
the turn of the year and they are reluctant to accept
the terms offered for four to six months.
Money on call, representing bankers’ balances,
loaned on the Stock Exchange during the week at 6%
and at 1% , averaging about 4%; the lower rate re




759

sulted from offerings after the demand for the day had
been satisfied and the higher rate from the inquiry inci
dent to October settlements. Banks and trust companies
have loaned at 23^ % as the minimum. On Monday loans
were at 334% and at 1% with the bulk of the business
at 334%. On Tuesday transactions were at 3% and
at 23^% wtih the majority at 23^%. On Wednesday
loans were at 3% and at 234% with the bulk of the
business at 23^ % . On Thursday transactions were at
4% and at 23^% with the majority at 3% . On Friday
loans were at 6% and at 4% with the bulk of the
business at 43^%. Time loans on good mixed Stock
Exchange collateral are quoted at 53^% for sixty and
5% @ 6% for ninety days and 6% for four to six
months; some foreign capital is being placed for the
shorter period through loan bills. Commercial paper
is 7% for sixty to ninety day endorsed bills receivable
7% for prime and 7 and above for good four to six
months’ single names.
The Bank of England rate of discount remains un
changed at 43^%. T he cable reports discounts of sixty
to ninety day bank bills in London 3% @ 4% . The
open'market rate at Paris is 3 % % and at Berlin and
Frankfort it is
According to our special
cable from London, the Bank of England lost £365,903
bullion during the week and held £38,768,667 at the
close of the week. Our correspondent further advises
us that the loss was due wholly to exports to Egypt
and the Continent. The details of the movement into
and out of the Bank were as follows: Imports, £70,000
(of which £10,000 from Malta and £60,000 bought in
the open market); exports, £496,OCX) (of wrhich
£280,000 to Egypt, £100,000 to Constantinople,
£40,000 to Italy, £16,000 to Gibraltar and £60,000
to Roumania), and receipts of £60,000 net from the
interior of Great Britain.
The foreign exchange market was strong early in
the week, influenced by a demand for remittance inci
dent to the end-of-the-month settlement on the London
Stock Exchange, which inquiry was reflected in a rise
in cables, and there was also buying of short for cover
for finance and loan bills wrhich would mature early in
October. Some demand for sight drafts was traced
to remittance for securities that had been sold for Euro
pean account, deliveries of which had been made
by steamers arriving on Monday. There was some
buying for speculation, based upon expectations of
smaller exports of commodities and also upon
prospects for firme r discounts in London as the' result
of the movement of gold to Egypt and to Germany.
On Tuesday cotton bills came forward more freely,
but they were promptly absorbed in consequence of
the demand for remittance and the market was quite
strong in the afternoon at about the highest rates for
the wreek. On the followin g day the offerings of cot
ton and grain bills were in large volume, and, owing to
a relaxation in the inquiry for remittance, the market
fell off sharply and the decline was accelerated by
speculative selling, causing a weak tone at the close.
On Thursday there were some expectations of offerings
of exchange against the Union Pacific and the New'
York municipal bonds that were placed abroad, and
further selling by speculators and continued large
offerings of commodity bills, together with a light de
mand for exchange, which was partly due to the end

THE CHRONICLE

TtiO

ing of the London settlement, contributed to weaken
tke market until towards the close, when there was
an irregular recovery. It is said that a considerable
amount of New York City 4 ^ % bonds have been dis
posed of to foreign investors.
On Saturday of last week the market was firm at
an advance, compared with the previous day, of 25
points for long at 4 8250@4 8275, of 10 points for short
at 4 8570@4 8575 and of 10 points for cables at 4 8625
@4 8635. On Monday long fell 15 points to 4 8235@
4 8240, short rose 20 points to 4 8590@4 86 and cables
15 points to 4 8645@4 8650. On Tuesday long ad
vanced 15 points to 4 8250@4'8255, short 5 points to
4 8595@4 86 and cables 15 points to 4 8650@4 8655.
On Wednesday long fell 35 points to 4 8215@4 8220,
short 35 points to 4 8560@4 8565 and cables 10 points
to 4 8640@4 8645. On Thursday long declined 15
points to 4 82@4 8210, short 15 points to 4 8545@
4 8550 and cables 25 points to 4 8615@4 8620. The
market was easy on Friday at a decline of 5 points for
short and for cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
1 F rl..
M on.,
Wed..
Tues.,
Thurs., F rl..
Sept. 20 Sept. 23 Sept. 24 Sept. 25 Sept. 26 Sept. 27
Brown
j6 0 d a y sU 82}4
Bros. & C o________ [Sight _ 4 86H
Baring
J 60 days! 4 82 H
& CO______________ Sight. _ 4 86y2
Bank British
60 days'4 83
North America__ __ 1Sight. ■
i »7
Bank ol
60 days 4 83
Montreal____
____ S ig h t.. 4 87
Canadian Bank
60 days 4 83
of Commerce______ S ig h t._ 4 87
Heldelbach, Ickel60 days 4 S2H
heimer & C o _______ Sight. _ 4 8 6 ^
Lazard
60 days 4 S2'A
Freres _ ________ . S ig h t.. 4 86J4
Merchants' Bank
60 days 4 83
of Canada................. S ig h t.. 4 »7

83
87
83
87
83
87
83
87
83
87
83
87
83
87
83
87

82H
86^
83
87
83
87
83
87
83
87
83
87
83
87
83
87

83
86^
83
87
83
87
83
87
83
87
83
86
83
86 y2
83
87

83
86 ^
83
86^
83
87
83
87
83
87
83
86^
83
SS'A
83
87

83
86J4
83
86^
83
87
83
87
83
87
83
86^
83
86 y2
83
87

The market closed on Friday at 4 82@4 8210 for
long, 4 8535@4 8545 for short and 4 8610@4 8620 for
cables. Commercial on banks 4 8150@4 8160 and
documents for payment 4 81@4 82. Cotton for pay
ment 4 81@4 81^4, cotton for acceptance 4 8150@
4 8160 and grain for payment 4 81 M@4 82.
The following gives the week’s movement of money
to and from the interior by the New York banks.
Week ending Sept. 27 1907.

8

Received y
Shipped by
N . Y . Banks. N . Y . Banks.

Net Interior
Movement.

Currency____________ ____________ ..
Gold ______________________________

$4,501,000
1,604,000

$8,895,000 Loss
1,705,000 Loss

$4,394,000
101,000

Total gold and legal tenders______

$6,105,000

$10,600,000 Loss

$4,495,000

With the Sub-Treasury operations the result is as
follows.
Week ending Sept. 27 1907.

Into
Banks.

Out of
Banks.

Net Change In
Bank Holdings.

B ank’s Interior m ovement, as above.
Sub-Treasury operations________ __

$6,105,000
27,300,000

$10,600,000 Loss
26,300,000 Gain

$4,495,000
1.000,000

Total gold and legal tenders...........

$33,405,000

$36,900,000 Loss

$3,495,000

The following table indicates the amount of bullion
in the principal European banks:
Sept. 26 1907.

B ank of
Gold.

Silver.

Sept. 27 1906.
Total.

Gold.

Silver.

Total-

£
£
£
£
£
£
E ngland . _ 38,768,667
........... ..I 38,768,667 34,022,126;
________ 1 34,022,126
France . . 111,515,954 38,537,212 150,053,166 114,793,334 41,918,444156,711,778
Germany _ 34.322.000 9.511.000 43,833,000 32.627.000 9,542,000 42,169.000
R u s s ia ___ 121,287,000 6.386.000 127,673,000 110,634,0001 5,469,000116,103,000
Aus.-Hun
45.383.000 12.079.000 57,462,000 47.015.000 11,948,000( 58,963,000
S p a in ____ 15.543.000 25.778.000 41,321,000' 15,273,000! 24,642,000 39,915,000
Ita ly _____ 34.464.000
4,779.6001 39.243,600 29.886.000 3,816,900 33,702,900
Neth’lands 6,038,-500 5,394,100 11,432,600 5,529,600 5,678,000 11,207,600
Nat.-Belg.l 3,187,333
1,733,000 5,199,000
1,593,667 4,781,000 3.466.000
Sweden
4,248,0001
...............i 4,248,000
3.879.000
3,879,000
Total week 414.757,454 104,058,579 518,816,033 397,125,060 104,747,344 501,872,404
Prev.week 411,617,834 104,498,579516,110,413398,085,125105,176,832503,261,957
I
1
I
I
I
!




[V o l .

lxxxv

THE MOROCCO A F F A IR .

Whether the recent events in the French campaign
in Morocco are to be regarded as favorable or unfavor
able to France, in the longer prospect, may possibly
be a matter of question. The French troops have
gained considerable advantages of position; they have,
within the past fortnight, placed themselves where
they can reasonably hope to hold their own, and to
make steady progress in reducing their opponents to
terms. On the other hand, it is clear that the French
people are involved in a campaign which may be pro
tracted, which is certain to be costly both in money and
lives, and in which the eventual profit to Franceitself is doubtful.
Our own belief is that the French are carrying out
in this matter the necessary ends pf civilization; that,
in some respects, they are fulfilling as useful a purpose
as was performed by our own navy, among others, in
dealing with the Barbary pirates in the same part of
the world a century ago. The case of Morocco con
sists, first, in the resistance of the Moorish Government
and people to provision for open commerce with out
side States, and, second, in the repeated kidnapping
exploits by a robber chief in the interior of Morocco,
whose activities the Moorish Government, whether
through helplessness or unwillingness, refrains from
controlling. To these two elements in the situation
must be added the absence of any proper protection
to foreigners visiting or residing in the Moorish States,
murders of such foreigners because they were foreigners
having been of frequent occurrence.
We are unable to see how interference of outside
Powers under such circumstances could decently have
been avoided, and the assumption of that duty bv
France is the plain carrying out of the agreement of
the Powers at the Algeciras Conference in March 1906.
From the simple standpoint of European diplomacy,
the point of principal interest in the matter has been
the absence of any obstruction or interference by
Germany. Obstruction from that quarter had been
predicted, principally because of the attitude assumed
by Germany at the time of the Algeciras Conference—
when, it will be recalled, the German Envoy manoeuvred
with a good deal of success to upset the entire program
for committing the guardianship over Morocco to
France and Spain. The purpose of Germany’s atti
tude at the time has never been wholly plain; it was,
indeed, so mysterious at the time as to cause most
extremely unpleasant inferences in the circles of
diplomacy and on the stock exchanges of the world,
where it was argued for a time that nothing short of
a deliberate wish to provoke the French into armed
collision with Germany could have warranted the
course of action pursued.
With that theory we never had any sympathy; it is
sufficient now to say that, whatever the motives of
the German Government at the time in opposing the
Franco-Spanish protectorate over Morocco, they have
obviously been abandoned. No objection has been
raised from Berlin to the present invasion of Morocco
by the French military in the campaign to coerce its
Government, and, indeed, we are unable to see how
any legitimate objection could be made. The Powers
of Europe have agreed in imposing on France this re
sponsibility, and the French are carrying out the man
date of the other States in accepting it.

S e p t.

28 1907 J

THE CHRONICLE.

761

gether with the enhanced cost of materials, affected
in a marked degree the expenses of operation. The
reader will recognize this as the familiar story recited
by every railroad report that comes to hand; very
naturally the Illinois Central was subject to the in
fluences and conditions common to all the roads in
the country.
With $4,974,228 increase in gross receipts for the
twelve months, or 9.63% as already stated, the addi
tion to the expenses was $3,545,230, or 10.34%. At
the same time taxes increased $82,825, leaving an im
provement in the net of $1,346,173, or 8.86%. The
expenses will be rather closely scrutinized in view of
certain recent statements that the property was not
being fully maintained. The elaborate comparative
tables which the Illinois Central reports have always
contained are continued in the present report, and thus
it is easy to apply tests to show what foundation there
may be for such allegations.
It appears that for maintenance of way and struc
tures about the same amount was spent and charged to
expenses in 1906-07 as in the previous year, the compari
son being $6,851,449 against $6,855,173. On refer
ence to the itemized statement of the expenses, it is
seen that, while most of the items show very substan
tial increases (for instance, general repairs of roadbed
and tracks having been $2,152,036 for 1906-07, against
$1,892,452 for 1905-06), there is quite a decided de
crease in two or three other items. Thus, renewals of
ties are down for only $427,672, against $743,861,
while at the same time the cost of laying ties decreased
$85,996 and renewals of rails was reduced by $142,872.
From another part of the report we see that the num
ber of ties used the last twelve months was only 997,349, against 1,635,899 the previous year, which thus
explains the falling off in the charge for renewals of
ties.
If the smaller number of ties used indicated a studied
purpose to curtail maintenance, it would undoubtedly
have to be regarded as possessing much significance.
But we are informed that the reduction was entirely
the result of exceptional circumstances, viz.: the in
ability to secure the usual number of ties from con
tractors. It also appears that, notwithstanding the
decrease in the expenditures for tie renewals and re
lated items, aggregate expenditures for maintenance
of way and structures were larger per mile of road op
THE IL LINOIS C E N T RAL’S REPORT.
erated than in any preceding year. These per mile
The annual report of the Illinois Central Railroad expenditures have been steadily rising during the last
Company for the year ending June 30 1907, like the decade, and averaged for 1906-07 $1,567, against
reports for the years preceding, reflects continued $1,549 for 1905-06 and only $1,127 for 1897-98.
growth and development. In reviewing the figures
It is important to observe, too, that, while for the
for 1905-06 we pointed out that the gross earnings of reason given, the charge for maintenance of way re
the company for the first time had passed above mained stationary, the amount spent upon mainte
$50,000,000, reaching in fact $51,636,405. In 1906-07 nance of equipment, on the other hand, was increased
this amount was further improved upon to the extent no less than $1„890,978, being-an addition of almost
of almost a round $5,000,000. bringing the total of the 25%. The charge in this way for 1907 was $9,596,007,
gross revenues from traffic up to $56,610,633. The against only $7,705,028 in 1905-06. Per mile of road,
ratio of increase for the twelve months is 9.63%. In equipment maintenance averaged $2,193 in 1906-07,
the net earnings also a further substantial gain has against $1,740 in 1905^06, and, of course, was very
been made, though here the ratio of improvement is much in excess of the corresponding average of any
not quite as large as in the case of the gross, nor was other year.
this expected, considering the experience of other
Apart from the expenditures for repairs and renewals
large systems. The report tells us that during the of equipment and of way and structures which it is
year there was a general advance in wages and in the the practice to charge directly to operating expenses,
cost of materials; practically every class of labor par the Illinois Central also each year makes large special
ticipated in the increase in wages. That fact, to appropriations out of surplus income for improvements

One phase of the matter remains for a word of re
mark. Here and there, in the European press, the
question of the propriety of insisting by force of arms
on abandonment, by a theoretically sovereign power,
■of its wishes in regard to foreigners, has been discussed.
That the Moorish people as a whole object to the
intrusion of foreigners into Morocco, especially on a
systematic commercial basis, there can be no doubt.
It is an easy line of reasoning to say that, if a nation
■chooses to exclude from its shores, and from partici
pation in its trade, any or all outside people, it is
merely exercising one of its inherent rights. Senti
mentally, the argument is strong; practically, it is
worthless. No principle has obtained more positive
recognition in history, not of this century alone, but
of the three or four centuries of progress which have
preceded it, than that the power of a sovereign State
or a native people extends only to managing its own
affairs, without denying to citizens of other States the
natural rights of residence and trade.
The terms on which such privileges to foreigners may
be granted are, within reasonable limits, subject to
the determination of such State or people; but the in
sisting that a barrier shall be raised and maintained
against all foreign intrusion has at no time been tol
erated in the history of the modern world. Were that
principle actually to have been recognized, history
would be oddly changed. Exactly how, for instance,
the colonization and development of America could
have been squared with a theory that the inhabitants
of the continent had the right to exclude all foreign
ers from their shores, it is difficult to see. To answer
that the American Indians were barbarians, and hence
had no right to claim such power, merely begs the ques
tion. The very case at issue, in the matter of Morocco
is that the Government is already proving itself ineffi
cient to perform the ordinary duties of a civilized
State. We have seen very lately, in the case of China,
the civilized world insisting on its inherent rights
where a Government far more humane and civilized
than Morocco had endeavored to hold to the policy of
exclusion. France is, therefore, moving as the re
sponsible agent of the civilized world, and the fact that
no diplomatic protest or criticism has accompanied
its movement is sufficient proof of the judgment of
the world at large regarding the affair.




76*2

THE CHRONICLE.

and betterments. This practice was continued dur
ing the late year, and we shall refer to these expendi
tures further below.
As an offset to the gain of $1,346,173 in the net
income from the operation of the road, there was a
falling off of $438,414 in the item termed “Income
from Investments and Miscellaneous Profits, &c.”
The falling off here followed altogether from the fact
that in the previous year there were sundry profits to
amount of $520,263, while in the year under review
these sundry profits counted for only $11,816. How
ever, the loss in income from investments, &c., still
left the company with net income larger by $907,759
than in the preceding year, of which increased fixed
charges consumed only $83,007, leaving the company
in the final result better off by $824,752 than in
1905-06. In a word, the amount available for divi
dends on the operations of the twelve months was
$11,687,091, equivalent to about 12.3% on the $95,040,000 of Illinois Central stock outstanding.
The company is paying, as is known, 7% dividends
on the shares, and the call for these dividends was only
$6,652,800, as against the $11,687,091 available for
the purpose on the year’s operations. This left over
$5,000,000 to be applied in other ways, and the man
agement set aside out of this surplus $3,794,987 for
permanent improvements, while $192,946 was con
tributed to the improvement fund, making together
$3,987,933. This is only a little less than the corre
sponding appropriation out of income the previous
year, which amounted to $4,164,739. In addition,
however, a full million dollars of surplus income has
this time been transferred to profit and loss. The
company spent altogether during the year $4,628,191
for additions and betterments to the property, and all
but $833,204 of this was defrayed from income. The
$833,204 represents the outlay on the railroads leased
or controlled through ownership of stock, for which
the Illinois Central has claims against those roads,
and this is the only portion of the expenditures for
permanent improvements charged to capital account.
The report, which is precisely in the same form as in
previous years, states that the policy of improving the
standards of maintenance has been strictly followed.
It also notes that the average weight of rail in the main
track is 74.77 lbs. per yard, as against 74.08 lbs. last
year; that the average tractive capacity of locomotives
on level track has been increased from 3,940 to 4,020
tons, and the average capacity of revenue freight cars
from 34.78 to 36.22 tons.
We pointed out a year ago that the confines of the
Illinois Central system are being considerably enlarged
through new acquisitions, and that the company is
reaching out for additional cities or traffic centres.
In illustration we may refer to the fact that through
the Indianapolis Southern a line will be furnished to
Indianapolis; through the Tennessee Central R R .,
Nashville will be reached; and, finally, through traffic
agreements with the Mobile & Ohio, the Southern
Railway, the Northern Alabama Railway and the
Kansas City Memphis & Birmingham, and the building
of 80 miles of new road from Corinth, Miss., to Haleyville, Ala., an entrance will be obtained into the city
of Birmingham and the important mineral districts
of the South there centred. The report shows what
was done during the year on these various projects and
some others of a similar nature. The line to Birming



ham it is expected will be ready for operation about
the first of November.
The Illinois Central is of course providing fiie funds
for these various extensions and additions, and it
would seem as if pretty soon plans will have to be
arranged for the permanent financing of these outlays.
With large drafts on the company for these purposes,
no addition to the outstanding amount of either stock
or bonds of the Illinois Central was made during the
twelve months. To meet its needs the company re
sorted to temporary borrowing, and on June 30 1907
it had $10,698,500 of bills payable outstanding. This
is an increase for the twelve months in bills payable
of $9,299,000. According to the report, the increase
is represented by $2,736,085 advanced to the Indian
apolis Southern, for which that company’s bonds have
been received; $1,029,168 for construction expendi
tures on the Yazoo & Mississippi Valley Railroad,
which was repaid with improvement bonds of that
company; $833,204 for expenditures for permanent
improvements on railroads of subsidiary companies;
$3,959,614 for advances to other railroads and $836,456 for purchases of real estate at New Orleans and
Chicago.
No intimation has come as yet as to wha>; plan of
financing is to be adopted— whether new stock is to
be issued, as in the past, or whether some other means
for raising the necessary capital is to be employed.
The balance sheet shows that on June 30 1907 the ad
vances on account of other railroads aggregated $7,581,729, and that the company at the same date owned
and held unpledged bonds of a par value of $29,300,371
and a book value of $27,695,354.
R A ILR O AD

GROSS A N D NET
JULY.

EARNINGS FOR

Returns of railroad earnings for the month of July
have been very much delayed, owing to the new system
of accounting introduced by the Inter-State Commerce
Commission, and to which the railroads subject to its
authority are required to conform. There has natur
ally been more or less confusion in changing from the
old system of accounting to the new system, and of
course it takes more or less time for the accounting
officials to become familiar with, and adapt them
selves to, the new method. Besides, some of the
items needed defining by the Commission, or rather
by its Statistician, and it would appear also that as
to a few of the items the position of the Commission
has not been entirely clear. Some roads are even yet
holding back the returns pending the receipt of
further instructions from Washington. For the pres
ent the returns are on no uniform basis. Some of the
companies are furnishing figures in the old way in
order that comparisons may be on the same basis
with last year, while still other companies are making
up the figures in the new way and are re-stating the
figures for last year so as to admit of comparisons
with the same.
Whatever the effect of these changes in accounting
methods on the final results, the general feature for
July is the same as that disclosed in the months
immediately preceding, and to which we have frequetly alluded. The conspicuous fact is the continued
increase in the operating expenses. On the roads
contributing returns of both gross and net earnings,
the gain in gross for the month reaches $18,546,430,

S e p *. 28 1907. |

but $16,103,364 of this has been absorbed by enlarged
expenditures, leaving, therefore, an improvement in the
net of only $2,443,066. For the seven months ending
with July the part played by the augmentation in
expenses stands still more conspicuously revealed.
For this period there is an increase in gross earnings
of $110,872,931, but $92,957,062 has gone to meet
increased expenditures, leaving only $17,915,869 im
provement in the net. For July the increase in gross
is 15.63%, the increase in the net only 6.17%, and
for the seven months, with 14.12% improvement in
gross, the increase in the net is only 7.40%.
1
1
|

1906.

.J

Jan ua ry 1 to J u ly 31.
(77 roads.)

J u ly .
(82 roads.)
1907.

In c. or Dec.

1907.

1906.

$

s

$

j In c. or Dec.

$

$
$
Gross . 137,212,522118,666,092 +18,546,430 896,118.267 785.245,336 +110,872,931
Exp . . 95,320,685) 79,217,321 + 10,103,364 636,144,758 543,187,690! +92,957,062
41.891.837j 39,448,771

X et.

+ 2,443,066 259,973,509242,057,640' +17,915,869

As far as the gain in the gross is concerned, it should
be noted that it was made in face of a falling off in
the grain traffic in the West and a contraction in the
cotton traffic in the South. As was pointed out by
us. however, in our preliminary compilation of the
gross published some six weeks ago, all the roads
had one special advantage in July 1907, namely that
there wasone less Sunday, and therefore one working
day more, in the month this year than there had been
in July last year. On the other hand, it should be
remembered that comparison is with very large earn
ings in 1906, as Is evident from the following record
-of almost continuous growth in earnings in previous
years.
Gross Earnings.
Year
Given.

Year
Preceding.

Increase or
Decrease.

Net Earnings.
Year
Given.

I

y ear
Preceding.

increase or
Decrease.

Ju ly . |
$
$
$
$
$
$
1S96-. 51,132,768 50,890,523
+242,245 15,556.978| 15,496.2731
+60,705
1897.. 58,183,393 54,228,118
+ 3,955,275 19,091,236! 16,530,293! +2,560,943
1595.. 63,172,974 62,339,710
+ 833,264 19,971,051 20.694,375
— 723,324
1899. -| 72,204,314 61,434,246 +10.770,068 24,377.447 19,672,510
+4,704,937
1900.-| 83,343,882 77,671,358
+5,672,524 26,687,209 25,989,927
+697,282
1901.J 99,334,538 86.920,806 + 12,413.732 34,925,710 27,680,869; +7,244,847
1902. - 102,960,249 97,691,960
+ 5,268,289 33,634,610 33,824,597,
— 189,987
1903-- 115,691,747 97,856,175 +17,83.5.572 38,296,851 31.846,698
+6,450,153
1904.-1106,955,490 113,678,564 — 6,723,074 34,398,740 37.353,409 — 2,954,669
1905--! 118,404,552 107.325,2221 +11,079.330 43,594,553 40.256,131
+3,338,422
1906 . -i129,386,440 114.556,367 +14,830,073 42.808,250 36,718,416! +6,089,834
1907-. 137,212.522 118,666,092 +18,546,430 41,891,837 39.448,771: +2,443,066
ta
J a n 1 to J u ly 31.
1896.-'338,898,5281326,287.6621 +12,610,866 99,349,935 95.685,802 +3,664,133
1897.- 336,488,331 330,160,1001 +6,328,231 106,190,418 98,486.145 +7,704,273
1898-- 413,911,220 371,736,517 +42,174,703 127.374.S54 111,677,733 +15,697.121
.1899 - ,424,524,851 1391,917,883 +32.606,968,132,707,563119,216,9171 + 13,490,646
1900. 1515,892,418 455,162,201 +60,730,217 158,350.057 13*.466,598:+19,883,459
1901- 1566.480,393 510,659,997 + 55.N20.396 186.186.040 159,591,770 +20,594,270
1902. 573,553,120 535,850,826 + 37.702,294 183,405.620 174.954.412 + 8,451,208
1903-.!‘j 52,964,95C 568,181,685. + 84.783,265 202,903.435 179,401,043 +23,442,392
1904.. 1872.970,084 386,256,206 — 13,286,122 194,820,892 215,775,606'— 20,954,714
1905.-1755.842,267 705,849,447 + 49,992,820 217,056,605 203,500,369| +13,556,236
1906.. 850,836,474 749,676,423 +101,160.051 202.275,487 215.627,371 +46,648.116
1907. J8 9 6 ,118,267 785,245,336 +110,872,931 259,973,509 242,057,640; +17,915,869

!

\ote.— In 1896 the num ber of roads included for the m onth of July was 130;
in 1S97. 127: in 1898, 123; in 1899, 114; in 1900, 117; in 1901. 108; in 1902, 103;
in 1903, 106; in 1904. 98; in 1905, 94; in 1906. 90; in 1907 , 82. We no longer in 
clude the Mexican roads or the coal-mining operations of the anthracite coal roads
in our totals.

The extent to which increased expenses have served
to modify and alter favorable returns of gross earnings
is seen in the case of many different roads throughout
the country. Thus the Atchison Topeka & Santa Fe
with $1,268,737 increase in gross has only $115,670
increase in the net; the Rock Island with $685,452
gain in gross actually has a loss of $178,787 in the net,
and similarly the St. Louis & San Francisco with
$834,364 increase in gross has $28,042 decrease in net.
The Southern Railway, with $405,406 improvement in
gross has $130,642 loss in net, and the Louisville &
Nashville and the Atlantic Coast Line have exhibits
of the same character. The Illinois Central with
$306,208 addition to gross, reports a falling off of
$35,098 in net, while the Canadian Pacific, though
having $! ,040,306 gain in gross has managed to save




763

THE CHRONICLE.

only $135,042 of it for the net. The following shows
all changes for the separate roads, whether increases or
decreases, for amounts in excess of $30,000. It will
be seen that while there are no decreases for this
amount in the gross , there is quite a considerable num
ber in the net.
P R IN C IP A L C H A N G E S IN G R O SS E A R N IN G S IN J U L Y .
Increases.
P e n n s y lv a n ia (2 r d s )____ v$3,393.100 P acific C o a st_____________
§173,953
S o u th e rn P a c ific __________ 2,237,534 P h ila B a lto & W a s h ’ton .
166,500
A tc h T op & S a n ta F e ___
1,268,737 K ansas C ity .Southern___
157,927
C a n a d ia n P a c ific ________
1,040,306 W h e e lin g & L a k e E r ie ___
154,102
U n io n P a c ific ____________
1,026,165 A t la n t ic Coast L in e _____
135.486
834,364 W isc o n s in C e n tr a l_______
S t L o u is & S an F r a n ____
134,757
B a ltim o r e & O h io _______
707,057 S t L o u is S o u th w e s t______
126,822
R o c k Is la n d sy ste m ______
685,452 L o n g Is la n d ______________
89,003
P h ila d e lp h ia & R e a d in g .
£591,832 Y a z o o & Miss V a lle y ____
87,150
576.814 T oled o & O h io C e n t r a l ..
E rie _____________________
57,953
467,222 W e s t Jersey & Sea S h o re .
N o r fo lk & W e s te r n _____
48,600
462,242 N a s h v C h a tt & S t L o u is .
Chesapeake & O h io _____
47,592
422,515 D u lu t h So Shore & A t l .
L o u is v ille & N a s h v ille ___
46,188
405,406 A la b a m a G t S o u th e r n ___
S o u th e rn R a ilw a y _______
' 44,806
376,181 N e w Y o r k S usq. & W e s t.
M issouri K ansas & Texas
142,867
375,206 H o c k in g V a lle y _________
G ra n d T ru n k (4 ro a d s ). 41,488
372.814 M in n e a p o lis & S t L o u is ..
D en v er & R io G r a n d e ___
44,239
329,155 W a b a s h ___________________
C e n tra l of N ew Jersey ___
34,517
306,208 C ine N e w O rl & Tex P a c .
Illin o is C e n tra l___________
30,890
B u ff R o e h & P itts b u rg h ..
296,535 C olorado M id la n d _______
30,742
198,900
N o rth e rn C e n tr a l________
175,783
C olorad o & S o u th e r n ____
T o ta l (46 r o a d s )...........$ 1 8 ,2 4 5 ,1 1 0
x These figures are for th e R a ilr o a d C o m p a n y ; th e C oal & Ir o n C o m p a n y
re ports a n increase of $805,012.
V These figures cover lines d ire c tly ope rate d east a n d w est o f P itts b u r g h
a n d E rie . T he gross o n E a ste rn lines increased $2,193,200 a n d th e gross
o n W e s te rn lines increased S I ,199,900.
P R IN C IP A L C H A N G E S IN
Increases.
2/5718,600
*322,389
257,358
232,331
224,640
207,368
192,426
135,042
133,705
115,670
107,729
87,416
74,856
73,359
72,936
62,302
47,574

P e n n s y lv a n ia (2 r o a d s ) ..
P h ila d e lp h ia & R e a d in g
M isso uri K a n & T e x a s ..
N o r fo lk & W e s te r n ____ _
D e n v e r & R io G r a n d e ___
E rie _____________ -______
B u ffa lo R o c h & P i t t s b . .
C a n a d ia n P a c ific ________
Chesapeake & O h io ______
A tc h T o peka & S a n ta Fe
B a ltim o r e & O h io _______
S t L o u is S o u th w e ste rn . .
K a nsas C ity S o u th e r n ___
Y a z o o & Miss V a lle y ____
W isc o n s in C e n tra l_______
C olorad o & S o u th e r n ____
C e n tra l o f N ew Jersey ___

NET E A R N IN G S IN J U L Y .
Increases.
S o u th e rn P a c ific __________
$47,568
W h e e lin g & L a k e E r ie ___
38,900
W e s t Jersey & Seashore.
31,300
T o ta l (21 r o a d s )_______ $ 3,183,469
R o c k I s la n d _____________
A t la n t ic C oast L in e ______
M in n S t P & S S M _______
S o u th e rn R a ilw a y _______
U n io n P a c ific ____________
L o u is v ille <Sc N a s h v ille ___
Illin o is C e n tra l_______ ____
T o ta l (7_ ro a d s )________

Decreases.
$178,787
136,399
132,792
130,642
79,398
52,791
35,098
$745,90':

x These figures are fo r th e R a ilr o a d C o m p a n y ; th e C oal & Ir o n C o m p a n y
reports a n increase o f $127,727.
V These figures cover lines d ire c tly operated east a n d w est o f P itts b u rg h
a n d E rie . The net on E a ste rn lines increased $281,500 a n d th e n e t on
W estern lines Inrceased $437,100.
^

When arranged in groups the same fact is revealed.
The ratio of gain in the net is very much smaller
than that in the gross, and for some of the groups the
improvement in the net is hardly more than nom inal.
as may be seen by the following.
SUM M ARY B Y GRO U PS.
Section

Gross E arnings.

Group.

1907.

J u ly .
Trunk L (8 ).
A n th Coal (4)
E ’st&Mld(13)
MldW est (10)
N W & N P (12)
SW & SPG 3)
Southern (22)

S
40,808,786
7,412,855
6,363,605
7;281,511
18,070,551
36,400,749
20,874,465

1906.

Net E arnings.
1907.

1906.

Inc.{+ )orDec.(—

$
35,722,092
6,429,224
5,504,297
0,091,692
15,550,232
30,095,285
18,673,270

$
12,176,915
3,097,962
2,031,517
1,864,092
6,806,471
10,966,176
4,948,704

$
11,118,985
2,727,464
1,838,999
1,875,329
6,778,671
10,292,228
4,817,095

%
%
+ 1,057,930 9.51
+370,498 13.58
+ 192,518 10.47
.60
— 11,237
+27,800
.41
+673,948 6.55
+ 131.609 2.73

Total (82). 137,212,522 118,666,092
Mexican (5).
5,903,152
4,853,128

41,891,837
1,725,130

39,448,771
1,385,139

+ 2,443,066 6.17
+339,991 24.55

J a n 1 to Ju l
Trunk L (6 ).
A nth Coal (3)
E ’st&Mid(13)
MldW est (10)
N W & N P (11)
SW & SP (13)
Southern (21)

71,934,804
17,813,124
8,882,580
14,614,964
37,790,110
74,559,016
34,372,911

68,445,856 + 3,488,948 5.10
14,472,160 +3,340,964 23.09
8,815,056
+67,524
.77
12,852,290 + 1,762,674 13.71
36,240,636 + 1,555,474 4.29
63,540,480 + 11,018,536 17.34
37,691,162 — 3,318,251 S.80

V 31.
261,520,874 235,097,127
46,976,030 40,084,037
37,634,810 32,762,568
50,479,953 45,670,293
109,104,205 94,179,522
246,072,180 202,975,390
144,270,215 133,876,399

Total (77) _ 896,118,267 785,245,336 259,973,509 242,057,640 + 17,915,869
Mexican (4). 39,589,525 34,575,364 12,603,726 11,657,132
+ 940.594

7.40
8.12

In addition to the roads which furnish exhibits of
both gross and net there are a number of companies,
including some of large size and much importance,
which give out figures only of gross. Starting with
the total of the gross in the foregoing, we add these
other roads in the exhibit we now present.
R O A D S R E P O R T IN G G RO SS B U T N O T N E T .
J u ly .

Increase.

R e p o rte d above (82 ro a d s ). 137,212,522 118,666.092 18,546,430
A la N e w O rl & Tex P a c —
N e w O rl & N o r E a s te rn .
269,520
256
12,936
A la b a m a & V ic k s b u r g ..
122,977
108
14,245
V ic k sb u rg Shreve & P a c .
131,698
120
11,668
C hlcag o G rea t W e s te r n ____
696,345
719
C hicago I n d & L o u is v ille ._
476,256
498
C hicago I n d & S o u th e r n ___
235 225
166
69,147
C hica go & N o r th W e s te r n .
5,964,448
5,510
453,538
C h ic S t P a u l M in n & O m _ _
1.130.462
101,921
1,028
C hicago T e rm in a l T ran sfe r.
146,463
143
2,945
C in c in n a ti N o r th e r n ............
84,136
88
C leve C ine C hic & S t L o u is .
2.312.463
2,143
169,099
P eoria & E a s te rn ________
234.676
244

Decrease

23,548
22,061

4,217
9,961

'THE CHRONICLE.

764

[V o l . l x x x v .

A new amendment to the constitution was ratified, to go
into operation next year, which changes the representation
18,409|
D e tro it T oledo & Ir o n to n
of the States on the Executive Council. This im p o rtan t
17,294
G e orgia S o u th ’n & F l a . .
290,166
G re a t N o r th e r n _________
amendment provides for the election of a member from each
13,944
M o n ta n a C e n tra l______
19,000
In te r n a t io n a l & G t N o r ’n
State and Territory for the first hundred members of the
34",754
L a k e E rie & W e s te r n ___
" 220,445
L a k e Shore & M ic h S o u th
American Bankers’ Association, and an additional member
911
M a c o n & B ir m in g h a m ___
for each additional two hundred members of the Association.
' 267 ,872
M ic h ig a n C e n tr a l________
70,254
M id la n d V a lle y _________
Hitherto the Council has consisted of thirty-nine members.
256,000
M issouri P a c & Ir o n M tn
9,000
C e n tral B r a n c h _______
The sections on Trust Companies and Savings Banks and
82,667
M o bile & O h io ___________
1,040,096
N Y C en t & H u d R iver- Clearing
Houses held separate sessions on Tuesday. The
•534
N Y C hicago & S t L ou is .
1,442,539
N o rth e rn P a c ific ________
feature of the Trust Company Section was the address de
117,922
P itts b u r g h & L a k e Erie36,353
livered by ex-Postmaster General Charles Em ory Sm ith of
R u t l a n d _________________
1,781
S ierra R a ilw a y ___________
Philadelphia.
23,744
S o u th e rn I n d i a n a _______
205,008
Texas & P a c ific __________
Joseph D. Powers, Vice-President of the Third National
10,915
T o ro n to H a m ilto n & B uff
Bank of Louisville, K y ., is the newly elected President of the
118,396
T o ta l (116 r o a d s )______
187,069,790 163,685,258 23.502,928
23,384,532
N e t increase ( 1 4 .2 8 % ) ...
Association, and George M. Reynolds of Chicago, VicePresident. Lewis E. Pierson, President of the Irv in g
It will be seen that in this way the amount of the National Exchange Bank of this city, has been chosen Chair
increase in the gross is brought up to $23,384,532, m an of the executive council. A spirited contest ensued
the ratio of improvement in this instance being 14.28%. over the Secretaryship, so long held by Col. Branch, resulting
This follows $20,322,896, or 13.73%, increase in July in the election of Fred. E . Farnsworth of Detroit. A . A.
Crane, Vice-President National Bank of Commerce, Minne
last year, according to the same method of computa
apolis, was re-elected Treasurer, and W illiam G. Fitzwilson
tion.
re-elected Assistant Secretary.
The Clearing-House Section elected August Blum of
ITEM S ABOUT B A N K S , B A N K E R S A N D TRUST CO’S.
Chicago President; E lliott C. McDougall of Buffalo Vice— The public sales of bank stocks this week aggregated 85
President, and Fred E . Farnsworth of Detroit Secretary.
shares, of which 36 shares were sold at the stock Exchange
The Savings Bank Section elected Lucius Teter, Chicago,
and 49 shares at auction. Thirty shares of Nassau Trust Co. President; John H* Johnston, Detroit, Vice-President; and
(Brooklyn) stock were sold at 190, this being the first public W . R . Creer, Cleveland, Chairman of the executive com 
sale of the stock since March 1904. No other trust company mittee.
stocks were sold.
The Trust Company Section elected as President, Philip
H ig h . Close. Last previous sale.
Shares. B A N K S — New York.
Low.
S. Babcock. Vice-President of the Trust Company of A m e rica,
167
167
S e p t. 1907— 170
x36 C om m erce , N a t. B a n k o f ___ 167
New York; as Vice-President, A. A. Jackson, Vice-President
169
169
S e p t. 1907— 175
20 F o u r th N a tio n a l B a n k ---- 169
152
152
J
u ly
1907— 160
19 M e rc h a n ts’ N a t. B a n k ---- 152
of the Girard Trust Co., Philadelphia; and H . P. M cIntosh of
301
301
J u n e 1907— 296
10 N ew Y o r k . N . B . A . , B a n k of 301
the Guardian Trust Co., Cleveland, as Chairm an of the
T R U S T C O M P A N Y — Brooklyn.
executive committee. Major Charles E lliot W arren, Presi
190
190
M arch 1904— 261
30 N assau T rust C o ____________ 190
dent of the New York State Bankers’ Association and Cashier
x S o ld a t the S tock E x cha n ge;
of the Lincoln National Bank of this city, was elected a m em 
— The thirty-third annual convention of the American
ber of the executive council.
Bankers’Association, which closed yesterday at A tlantic
The full report of the convention’s proceedings will appear
City, was successful and enjoyable, and while not so largely
in our "B ankers & Trust Section” to be issued, next week.
attended as some of the previous conventions, yet the interest
— A syndicate has been organized by George M. C um ing,
taken in the various meetings seemed to be greater than on
other occasions. Am ong the m any pleasant features provided George W . Young and LeRoy W . Baldwin to purchase'jthe
for the entertainment of the bankers and their families was a stock interest of the M utual Life Insurance Co. in the United
roller-chair parade on Tuesday, a reception and ball at the States Mortgage & Trust Co. of this city. The following
Marlborough-Blenheim Hotel Wednesday evening, a clam statement was made public on Thursday: “ George M.
bake and baseball game at the Inlet and trips on ocean-go Cuming announces th a t LeRoy W . Baldwin. President
Empire Trust Co., and George W . Y oung, formerly President
ing yachts Thursday.
The banking section of the convention was called to order of the United States Mortgage & Trust Co., have joined w ith
on Wednesday by President G. S. W hitson, Vice-President of him and other associates in the purchase from the M utual
the National City Bank of New York. The speech of Life Insurance Co. of the latter’s holdings of the stock of
Governor Claude Swanson of Virginia on the “ South” was the United States Mortgage & Trust Co.” The others in 
warmly applauded. The German representative, Herr terested in the purchase are Pierre Lorillard, Ogden Mills,
Moritz Leiffmann, advocated a central reserve bank for the James A . Burden Jr., Gerald A. H oyt and August Belmont.
needs of this country, explaining the workings of this system No change is looked for in the management of the trust
company.
in Germany.
J u ly .

1907.

S
358,706
188,555
5,066,602
233,571
581.000
398,485
3,804,876
12,149
2,33«,843
131,293
3,974,000
133.000
887,017
8,769,318
809,256
7,131,465
1,433,695
286,276
40,222
137,270
1,215,346
73,654

1906.

Increase. I Decrease.

S
340,297
171,261
4,776,436
247,515
562.000
433,239
3,584,431
13,060
2,118,971
61,039
3,718,000
142.000
804,350
7,729,222
808 722
5,688,926
1,315,773
249,923
38,441
113,526
1,010,338
62,739

The second day of the Banking Section on Thursday will
go down on the Association’s records as the most eventful
meeting of this year’s convention, commencing with the
presentation of the Currency Commission report and the
lively discussion which ensued. The Chairm an of the Cur
rency Commission, A . Barton H epburn, President Chase
National Bank, New York, subm itted the report and voiced
the Commission’s recommendations in favor of a central
bank of issue and the credit currency plan. This proposal
was attacked by some of the Western delegates, led by A . J.
Frame of Wisconsin and Henry W . Yates of Om aha, and was
defended by Congressman Fowler, Chairman of the House
Committee on Banking and Currency, in a stirring speech
which carried the day, resulting in the unanimous adoption
of the Commission’s report, and continuing the Commission
in power. M. E . Ingalls, President Merchants’ N ational
Bank of Cincinnati, was the principal speaker at the conclud
ing session yesterday. His subject was “ Our Present and
Future Prosperity.” The convention program closed last
night with a concert on the Steel Pier, followed by a profes
sional cakewalk. D uring their stay atA tlantic
City the
bankers enjoyed the courtesy of the Atlantic City Yacht
Club and the Country Club.




— A dividend of 3% was declared this week by the Century
Bank of this city, payable Oct. 1 . This is the first dividend
declared by this institution, which was organized in April
1901.
— Samuel Sloan, the venerable railroad m an, Chairman of
the board of directors of the Lackawanna Railroad and
President of that road for m any years, died at his home in
Garrison, N. Y ., last Sunday. D uring his long and honor
able career of ninety years, Mr. Sloan had been President of
seventeen railroads, and at his death was an officer or director
of thirty-three corporations. Of these he was a VicePresident and Director of National City Bank, a director
of the United States Trust Co., the Farmers’ Loan & Trust
Co., the Consolidated Gas Co., the Queens Insurance Co.
and member of the executive committees of the Western
Union Telegraph Co. and the M anhattan Railw ay Co.
— The Borough Bank of Brooklyn has opened a branch
on corner 49th Street and New Utrecht Ave., in charge of
Edw ard Johnson. Last week the Flatbush Trust Co. of
Brooklyn also opened a branch office in the same locality.
— Col. W illiam Goddard, Vice-President of the Providence
National Bank of Providence, R . I ., senior member of the

S e p t.

28 1907.J

THE CHRONICLE.

7C5

— A quarterly dividend of 2 3^ % has been declared by the
directors of the First National Bank of Englewood (Chicago).
111., payable to stockholders Sept. 30. The capital stock was
increased from $100,000 to $150,000 on Aug. 1, which makes
the dividend rate the same as before the increase. The
b a nk ’s surplus is now $100,000 and undivided profits $50,000.
This year’s business surpasses any previous year, deposits
reaching $2,164,287 on Aug. 22 and comparing with $1,895,123 on Jan . 1 1907 and $1,673,091 Jan. 1 1906.
— Announcement is made this week th at the Mercantile
Trust Company of St. Louis will absorb the Missouri-Lincoln
— Charles L. Burrill has resigned as Vice-President and Trust Company. I t is stated th at the sale was effected on
Treasurer of the American Trust Company of Boston, Mass., a basis of two and one-half shares of the latter for one share
to become Vice-President and Treasurer of the Manufacturers’ of the Mercantile Trust Co. stock, or about $130 for the
Commercial Company of New York. The resignation takes Missouri-Lincoln’s stock. The Mercantile Trust Co., of
which Festus J. Wade is President, was organized in 1899,
effect October 15.
has $3,000,000 capital, $6,803,977 surplus and profits and
— C- L . Flaccus has been elected President of the Metro
$21,426,000 deposits,. The Missouri-Lincoln Trust Co.,
politan National Bank of Pittsburgh to succeed the late
started business in 1880, is capitalized at $3,000,000, with
John Runnette. George Seebick, Cashier, has been chosen
$1,091,325 surplus and profits and $7,114,76S deposits.
to replace Mr. Runnette on the directorate. The election of
The combined resources of the consolidated companies will
Robert Ostermier as First Vice-President is also announced,
be nearly $43,000,000.
C. P. Tiers having resigned this post.
— The K entucky Bankers’ Association, representing a
— “ The Bank with a Record” is the heading under which membership of 333 members, assembled for their an nual
the Mellon National Bank of Pittsburgh presents a booklet convention in Louisville on the 18th and 19th inst. The
giving facts to substantiate its claim to a record in organiza delegates were welcomed to the city by Logan C. Murray,
tion, growth, service, profit and conservatism. Taking up President of the Louisville Clearing Association and of the
one of these several heads— the record in growth— it is American National Bank and then listened to an interesting
noted that the bank in Ju ly 1902 succeeded to the banking discourse by Henry Clews of New York on “ The S itu ation ,”
business of T. Mellon & Sons, which for a third of a century who related his personal view of present financial disturb
had successfully operated in Pittsburgh. Two weeks later
ances.
Joseph McCord, Vice-President of; the Third
the call of the Comptroller showed that the new bank stood
National Bank of A tlan ta, G a., addressed the bankers on
second in the list of Pittsburgh’s thirty-six national banks.
“ The Currency,” and James P. Helm on “ Co-operation.”
In March 1903 the Mellon National absorbed the Pittsburgh
The Association’s President, John G. W in n , in his annual
National Bank of Commerce, with deposits of more than
address, predicted that at the next session of Congress a bill
$5,000,000, and the next call of the Comptroller indicated
would be introduced and adopted which would insure bank
that the institution had moved up to the head of the list.
depositors against loss. Bernard G. W itt of the Ohio Valley
A t the close of its first five years under a charter the bank, it
Bank & Trust Co., Henderson, K y ., was chosen President of
is stated, made a showing of about four times the am ount the Association for the ensuing year.
of its initial deposits. A picture of the founder of the
— A new national bank is organizing in Macon, G a., with
institution, Judge Thomas Mellon, now in his ninety-fifth
a capital stock of $250,000 to open about Jan. 1st. I t is
year, is shown in the booklet.
proposed to call it the Citizens’ National Bank. The pro
-—The directors of the Cleveland National Bank of Cleve moters are having plans prepared for a five-story building.
land, Ohio, have elected Frank W . Wardwell President, to The presidency of the institution has been offered Broadus
fill the vacancy due to the death last July of Phineas M. E . W illingham , President W illingham Cotton Mills of Macon,
Spencer. Mr. Wardwell has been a director for some years, while Eugene W . Stetson, Cashier of the Exchange National
and has also been a member of the b a nk ’s executive and Bank of Fitzgerald, G a., is named for Vice-President and
finance committees. The position of Second Vice-President Cashier, and Eden Taylor Jr. for Assistant Cashier.
has been created by the directors, who have elected thereto
— Officers have been chosen for the new Citizens’ Bank of
H .T iedem ann, President of the I'nited Banking & Savings Augusta, G a., as follows: P. S. North, President; Claude A .
Com pany of Cleveland.
Fleming, Vice-President, and M. C. Dowling, Cashier. The
firms of Goddard Bros, and Brown & Ives, and Chancellor of
Brown University, died on the 20th inst. in his eighty-second
year. Mr. Goddard served as President of the Providence
National Bank from 1869 until 1905, when he resigned.
Since then he has continued to be a director of the in stitu 
tion, and has also been its Vice-President. For a number
of years prior to 1900, when he relinquished the post, Mr.
Goddard was head of the Providence Institution for Savings.
I n m any ways he played a notable part in industrial, educa
tional and philanthropic activities. His title of Colonel was
earned in the Civil W ar.

— The newly-organized East E nd Bank of Cincinnati be
gan business on the 21st inst. at 4030 Eastern Avenue. The
institution has $50,000 capital. J. A. DeArmond is Presi
dent.
— A table showing the rank of Chicago banking institutions
according to their deposits at the date of the respective calls
in August last has been reprinted from the Chicago “ Record
H erald” by the State Bank of Chicago. The institution,
with deposits of $18,609,373, is eleventh on the list, which
numbers fifty institutions. In May it held only thirteenth
place. In its August statement its loans are given as $14,889,514 and its surplus and profits as $1,123,423: the book
value of its stock is $212, and the market value (bid) $295.
The bank has $ 1,000,000 capital stock and pays dividends of
10% yearly.
— Edward Morris, son of the late Nelson Morris of Chicago,
has been chosen to succeed his father as director in three
Chicago banks, viz., the First National, National Live Stock
and First Trust & Savings. As a director of the First Na
tional Bank, lie becomes also a director of the National Safe
Deposit Company.
— Chicago was honored by the American Bankers’ Associa
tion at the Atlantic City convention in the selection of George
M. Reynolds, President of the Continental National Bank of
Chicago, as Vice-Presidcnt of the association for the ensuing
year, and the election of Lucius Teter, Vice-President of the
Chicago Savings Bank & Trust Com pany, as President of the
Savings Bank Section of the association.




bank was chartered Ju ly 9th with $50,000 capital and will
commence business soon.
— The receiver for the suspended Oregon Trust ct Savings
Bank of Portland, Ore., reports its total assets to be $2,209,536 and the liabilities $2,553,927. This list of assets omits
the furniture or bank fixtures and the value of the unexpired
lease of the building; nor is any value put on a large am ount
of stock held in the independent telephone companies of
Portland, Puget Sound and Om aha. Efforts by President
W . H . Moore, who transferred $300,000 of his personal prop
erty to the receiver for the benefit of the creditors, will proba
bly result in the reorganization and reopening of the institu
tion if his proposed plans are adopted by the depositors.
— Portland, Ore., is to have a Scandinavian-American
Bank of $250,000 capital, which is now organizing and plan
ning to commence business Nov. 1 .
— The National Bank of Cuba has issued an illustrated
booklet showing its handsome building in H avana. The
bank has fourteen branches in Cuba— one in each of the twelve
leading cities and two in Havana. I t has over 11,000 depos
itors’ accounts, am ounting to $14,600,000. A t the head
office alone more than $ 1 ,000,000 cash, principally gold,
passes in a day through the teller’s windows, representing
over 3,000 separate checks cashed. The various features
of the business of the bank, with list of directors, balance
sheet, &c., are given in the booklet.
— The Chartered Bank of Ind ia , Australia & China has de
clared an interim dividend for the half-year ended June 30
i 1907 at the rate of 13% per annum , free of income tax.

THE CHRONICLE.
IM P O R T ’S A N D E X P O R T S O F G OLD A N D S IL V E R AT
S A N F R A N C IS C O .
The Collector of Customs at San Francisco has furnished
us this week the details of the imports and exports of gold and
silver through that port for the m onth of August, and we give
them below in conjunction with the figures for preceding
m onths, thus completing the results for the eight m onths
of the year 3907. The imports of gold were light reaching
$140,237, wholly bullion and gold in ore. Of silver there
came in $263,766, m ainly bullion. D uring the eight months
there was received a total of $2,492,669 gold and $2,354,740
silver, which compares w ith $7,805,027 gold and $1,698,822
silver in 3906. The shipments of gold during Ju ly were
only $1,940 coin and the exports of silver were $140,921,
m ainly coin. For the eight m onths the exports of gold
coin reached only $7,964, against $5,355,419 in 1906, and
$1,829,367 silver was sent out, against $2,444,906 in 1906.
The exhibit for August and for the eight months is as follows:
IM P O R T S O F G O L D A N D S IL V E R AT SA N F R A N C IS C O .
Gold.
Months.
1907.

Jan u a ry _______ ______
February ____
___
M a r c h ______________
April . ____________
M a y _________________
June ________ ________
J u l y ______ ________

Coin.
S
733,796
25
1,500

A - U g u s t... .....................

Total 8 m onth s____

B ullion.
S
218.546
198,013
127.583
378,094
98,736
285.070
311.069
140,237

Silver.
Total.

Coin.
%
52,700
3.3,176
2,555
12,165
1,168
672
50,744
27,748

S
952,342
198,038
127,583
379,594
98,736
285,070
311,069
140,237

Bzillion.
S
252,327
282,809
205,719
302,881
181,117
353.802
359,139
236.018

Total.
%
305,027
315,985
208.274
315.046
182,285
354,474
409,883
263,766

735,321 1,757,348 2,492,669! 180,928 2,173,812 2,354,740
1

E X P O R T S O F G O L D A N D S IL V E R F R O M S A N F R A N C IS C O .
Gold.

Months
1903.
January . __________
February ___
___

|

Silver.

Coin.

B ullion.

Total.

%

$

$

3,456

3,456
200
36S
1,940

$
249,803
276,442
3,995
3,718
16,148
27,880
4,625
113,787

3,456*
1

7,964

696,398 1,132,969)1,829,367

500
1,500

________

M a y ________ ___ ____
June
. ....... . ........
Ju ly -------------August . ___________

200
368
1,940

Total 8 monjbts____

3,508

500
1,500

Coin.

B ullion, j Total.
S
27,476

117,359
601,000
360,000
27,134

S
277,279
270,442
3,995
3,718
133,507
628,880
364,625
140,921

&

f$t0tuetim jl ommcrcial
(F r o m our o w n C orrespo nd en t.)

London, Saturday, Sept. 14 1907.
The stock markets are decidedly more cheerful than they
were, b u t there are loud complaints th at business is, if possi
ble, duller than ever. Speculative business undoubtedly is
very inactive. Every speculator has lost so heavily since
the beginning of the present year that very few have courage
enough to continue operations. Therefore the “ b u ll” ac
count is reduced almost to a m in im u m , and for the time being
operators eannot be induced to buy even the most promising
things. A member of the Stock Exchange who does a very
large and a very safe business told the present writer the
other day th a t he had recommended certain shares to his
clients so strongly that in ordinary times he would certainly
have been able to buy at least 100,000 of the shares, b ut that
at the present time the response to his recommendation did
not am ount even to 5,000 shares. The incident is typical.
Practically there is hardly any speculative business.
But investment business is more active than it has been
for a long time. Ever since the beginning of the year there
have been spurts of investment with every severe fall in
high-class securities, leading to considerable purchases.
B ut as liquidation began again in the course of a few weeks
investors were frightened away, and there followed another
period of quietude. Now investors are coming to the con
clusion th a t the liquidation, in this country at all events,
has been completed; th at, although there m ay be no quick
recovery, the bottom has been reached; and th a t therefore
now is the time to buy with great advantage. If money does
not become scarce and dear the investment will go on.
Gradually the floating stock of high-class securities will be
removed from the market and then an impetus will be given
to speculation.
Of course if money again becomes scarce and dear invest
m ent will be checked. There is considerable fear amongst
investors of what m ay happen in New York and in Berlin.
The m ost general opinion here is th a t the general public in
New Y ork long ago retired from the market; th a t speculation
since has been conducted by immensely wealthy syndicate?;
and th a t therefore no serious trouble will occur. Prices m ay
be knocked down in an alarm ing way and the conflict be
tween the railways and the Government m ay be more bitter.
But speaking generally, there is not m uch fear of serious
troubles in New Y ork. I t is different with regard to Ger
m any. Undoubtedly the average Englishm an thinks that
speculation has been carried too far and too furiously in
Germany; th a t money for two years now has been so scarce
and dear th a t the market cannot be sustained; and that
therefore there is likely to be a breakdown in Berlin. In
Germ any itself a contrary opinion is held. The best observers
there hold th a t the banks, the Im perial Bank at their head,
have p ut such pressure upon operators of all kinds that wild
speculation has been completely brought to an end. Indeed,




[V o l.

l x x x v

.

it is alleged that only really wealthy people now have “ b u ll”
accounts open. In short, the well-informed profces to be
lieve that the liquidation of recent m onths has been largely
on German account, that it has now been almost completed,
and that serious trouble is out of the question. Nobody
doubts, of course, th a t money will be very scarce and dear
at the end of this m onth. B ut th a t will be a temporary
thing that happens at the end of every September, and does
not mean that there will be serious trouble.
In Paris speculation is nearly as dead as it is in Berlin
B ut in Paris it is m ainly due to the Morocco imbroglio. No
doubt operators have lost heavily through the fall in copper
and copper shares. No doubt, also, Paris is as apprehensive
as London is of troubles in Berlin. A nd no doubt, likewise,
there are fears in Paris that London is not as safe as London
ers profess, and th a t New York also is not quite what it
ought to be. B ut the m ain reason for the weakness in Paris
and the general unwillingness to engage in new risks is the
condition of things in Morocco, and especially the fear that
if France ventures too far she m ay find herself suddenly
pulled up by Germany.
Money for the time being is wonderfully easy. Short
loans are about 2 ^ % in the open market, and the rate of
discount for sixty day and three m onths bills ranges from
about 3% to 3 % % • B ut these rates are very uncertain
and any m oment m ay see a rapid rise, for the market u n 
doubtedly is in a sensitive state. The very fact that there
is a difference of about 1% % between what bill brokers pay
for short money and the rate of discount for sixty-day bills
shows either that the brokers do not care to take very m an 3'
bills or else that the banks are not free takers, and conse
quently that the bill brokers, if they were to take m any bills,
could not relieve themselves of the burden. Should, then,
a demand for gold for any quarter arise, it is inevitable that
there would be a rapid rise in rates here. The best opinion
in London for the m om ent is that a strong demand for gold
is not to be feared. Gold for the Im perial Bank of Germany
will continue to be bought until the end of the m onth.
Once the m onth .is over it is believed th at the buying for the
Im perial Bank will end. I t is not thought th a t the South
American demand will be large this season, a t all events
will not be large during the remainder of the current year.
Ind ian authorities feel confident that the Ind ian dem and
for gold will be small, and the best opinion appears to be
that E gypt will not require more, probably will require
somewhat less, than it did last year. Upon the whole,
therefore, the prevalent opinion in London a t present is
that a 5% rate will be sufficient for this year
The In d ia Council offered for tender on Wednesday 20 lacs,
and the applications exceeded 181 ^ lacs, at Is. 3 31-32d.
per rupee. Applicants for bills a t Is. 3 31-32d. per rupee
were allotted about 11% of the amounts applied for.
The following return shows the position of the Bank of
E ngland, the Bank rate of discount, the price of consols, &c-.T
compared with the last four years:
1907.
Sept. 11.
£
29,105,385
7,612,123
46,924,229
14,338,076
30,494,182
27,994,716
38,654,101

1906r
Sept. 12.
£
28,734,145
9,224,182
42,477,145
15,958,452
29,273,146
24,761,561
35,045,706

1905.
Sept. 13.
£
29,201,200
11,688,992
42,021,387
18,667,070
28,863,519
24,505,982
35,257,182

1904.
1903.
Sept. 14.
Sept. 16.
£
£
28,117,5 » 28.613,390
7,831,477
7.117,2S!>
40,697,872 -37,184,730
14,227,14« 16,950,841
24,160,374 21,655.875
28,48(5,m
24,120,68:’.
38,153,731 34,314,073

C irculation...............
Public deposits____
Other deposits_____
Governm’t securities
Other securities____
Reserve,notes&coin
Coin& bull.,both dep
P rop, reserve to lia
bilities______ p .c .
51'A
47yi
45)4
58 9-16
54 5-16
Bank rate---- p. c.
4)4
x4
3
3
4
Consols. 2)4 p. c—
82 5-16
86 9-16
89 13-16
89
S ilv e r.....................
31M d.
31% d.
28% d.
26 3-t6d.
26 7-16d.
Clear.-house returns 201,209,000 189,598,000 175,162,000 149.391, (W) 184,731,000

The rates for money have been as follows:
Sept. 13.
Bank of England rate_______ _______ 4)4
Open Market rate—
Bank bills— 3 m onths____ 3)4 @3 15-16
— 4 m onths____
4 5-16
— 6 m onths____
4 5-16
Trade bills— 3 m onths___________ 4)4
—-4 m onths____________4%
Interest allowed Jor deposits—
By Joint-stock banks........................ 3
By discount houses:
A t call............................................ 3
7 to 14 d a y s.................... ............. 3)£

Sept. 4.
4)4

A ug. 23.
4)4

Aitff. 16.

4*£
4J4<§>5
5M
5<©5)£
5 K @ 5)4

4)g@4?-i
4 % @ 4 7/,
S@ 5’ ,
4% @ 5
5 ^ 5*1

3

3

3

3
3M

3
3 i*

3

4© 4)4
4%
4%
4)4
5

4)4

The Bank rates of discount and open m arket rates at the
chief Continental cities have been as follows:

Sept. 13.
Sept. 6 .
A ug. 30.
Rates oj
Bank Open
Bank Open
B ank Open
Interest at—
Rate. Market. Rate. Market. Rate. Market.
Parts___________ _____
3)4 3 7-16
3)4
3%
3)4
3)4
B e r lin ......................... 5)4
5
5)4
4%
5)4
H am bu rg____________
5)4
5
5)4
4%
5)4
454
5
5)4 4 13-16
5H
4%
F ra n k ro rt___________ 5)4
Amsterdam ------- 5
4)4
5
4 13-16
5
4%
B ru s s e ls ----- ---5
4%
5
4)4
5
4)4
Vienna ....................... 5 5
5 5
5 5
St.Petersburg............. 7
7
7
M adrid________ _____
4)4
4
4)4
4
4)4
4
Copenhagen__________ 6
5)4
6
5)4
6
5)4

A ug. 23.
B ank Oper
Kate. Hark- 1.
3)4 3 7-16
5)4
4*<
45*
514 4 13-16
5
4%
s
41^
5 4 15-16
7

4:^4
O

4
5H

Messrs. Pixley & Abell write as follows under date of
September 12:

G O L D .— W ith the competition from the Continent not quite so keen, flhe quotation
fell to 77s. 95sd. A t this rate, after the trade and Indian Bazaar requirements were
suDplled. halt this week’s arrivals was secured by the Bank of England and half by
the Continent. Since our last, the Bank has received £356,000, while £6Q.000 habeen taken for export for Ita ly and R oum anla. Next week we expect about £454.000 from the Cape. For the week: Arrivals— Cape, £559,000; West Indfc*s,£ 2 7 .0 0 0 :
Australia, £2,000: total, £588,000. Shipments— Bombay, £125,200: Calcutta.
£8,500; total, £133,700. For m onth of August: Arrivals— Germany, £37,000:
France, £44,000; West Africa, £163,000; South Africa, £2,973.000: In dia, £1S1.000. Shlnments— Germany, £968,000; France, £73,000; In d ia. £570.000.
S IL V E R .— 1
T ransactions have been on a moderate scale during the post week,
the only factor of Importance being the purchase of 20,000 kilos by the French M in t.
The spot quotation rose to 31 9-16d. on the 6th, and remained unchanged nntll th ‘10th, when it fell to 31 7-16d., whilst yesterday It fell to 31)£d. To-d»y ft has rt covered to 31 % d . on some Eastern covering orders. The price in IndSi In Rs- 7 9 !
per 100 Tolahs. For the week: Arrivals— New York. £273.000; Wf*ft Indtfs. €10 ■
000; total, £283,000. Shipments— Bombay £439,380; Calcutta, £«»,QO O total

S e p t . 28 1907.j

THE CHRONICLE.

£599,380. For the m onth of August: Arrivals— Germany, £44,000; France, £27,000;
U . S. A ., £*.£01,000. Shipments— Germany, £27,000; France, £117,000; In dia,
£862,000.
M E X IC A N D O L L A R S .— A few Mexican dollars have changed hands at melting
value. Arrivals— New Y ork, £82,000. Shipments— N il.

The quotations for bullion are reported as follows:
GOLD.
Sept. 13.
London Standard.
s d.
B ar gold, fine, ob ---- 77 9%
U . S. gold coin, oa____ 76 5
German gold coin, ojs. . 76 5
French gold coin, oe___ 76 5
Japanese yen, oa......... 76 5

Sept. 6.)
S IL V E R .
Sept. 13.
s. d. | London Standard.
d.
77 10% |Bar silver, fine, oz___ 31%
76 5% I “ 2 m o . delivery____ 31%
76 5% ICake sliver, oz________ 33 13-16
76 5% (Mexican dollars_______ nom .
76 5% |

Sept. 6.
d.
317-16
319-16
33%
nom.

The following shows the imports of cereal produce into
the United K ingdom during the season to date, compared
with previous seasons:
IM P O R T S .
One week—
1907-08.
1906-07.
1,883,700
Imports of wlaeat.....................cw t. 1,812,800
Barley ..............................................
661,800
479,100
Oats...................................................
122,800
337,000
P eas.......................................... ........
12,040
70,190
Beans . ..................... _......................
9,370
3,380
Indian com ................... ................
904,800
1,193,600
F l o u r _______ __________ _____ _
245,000
250,000

1905-06.
1,906,500
618,500
207,000
118,316
15,940
766,700
117,600

1904-05.
1,953,800
389,400
160,200
38,540
47,200
757,700
236,500

Supplies available for consumption (exclusive of stock on
September 1 ):
1907-08.
W heat im ported ..................c w t . 1,812,800
Im ports of flo u r._________________
245,000
Sales of home-grovm_____________
158,730

1906-07.
1,883,700
250,000
482,872

1905-06.
1,906,500
117,600
903,140

1904-05.
1,953,800
236,500
285,315

Total --------- ------- --Average prlee w heat, week_______

2,615,572
26s. 9d.

2,927,240
26s. l i d .

2,475,615
30s. 2d.

2.216,530
31s. l i d .

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom :
This week.
W h e a t.......................................qrs. 1,770,000
Flour, equal to .........................qrs.
170,000
Maize......................................... qrs.
725,000

Last week.
2,010,000
150,000
795,000

'1906.
1,619,000
186,000
725,000

1905.
1,800,000
210,000
1,125,000

The British imports since Jan. 1 have been as follows:
1907.
Imports—
£
J a n u a r y ....................... .................... 60.540.50S
F e b rua ry _____________ _______. . . 52,927,347
March ............................. ............... 57,738,731
April ............... ................................ 56,786.097
M a y ..................................... ............ 52,619,423
J u n e .................................................. 47,810,648
Ju ly ..................................... ............ 52,213,304
A u g u s t................. ............................40,296,585

1906.
£
53,474,333
47,527,253
53,261,630
47,519,310
51,417,731
47,881,000
48,607,799
48,889,137

Eight m o n th s............................ 429.850,513

398,002,162

Difference.
£
+7,066,175
+5,400,094
+4,477,101
+9,726.787
+1.201,692
— 71,005
+3,605,505
+407,448
+31,848,351

Per
Cent.
+13.2
+11.3
+8.4
+10.7
+2.3
— 0.15
+7.4
+0.8
+8.0

The exports since Jan. 1 have been a t follows:
Exports—
J a n u a r y ....................._ ....................
F e b r u a r y .......................................
March ................... .........................
April ....................................... ........
M a y ----- -----------------J u n e . ...............................................
J u l y .................................................
A u g u st......................... ....................

1907.
1906, Difference
Per
£
£
£
Cent.
35,070,607
30,774,811 +4,295,796 +14.0
32,073,345
28,771,123 +3,302,222 +11.5
34,723,03431,651,162
+3,071,872
+9.7
34,416,86627,032,306
+7,384,560 +27.3
36,922,548
31,724,927 +5,197,621
+16.4
33,111,069
30,639,187 + 2,471,882
+ 8.0
40,452,331
33,442,962 +7,009,369
+21.0
37,355,044
33,492,614 +3,862,430
+11.5

E ight m onths.............................284,124,844

247,529,092

+36,595,752

+14.4

The re-exports of foreign and colonial produce since Jan
show the following contrast:
1907.
Re-exports.—
£
J a n u a r y ....................... .................... 8,793,276
Feb ruary .......................................... 9,425,830
March -------------------- - 8,110,260
April
............................................. -9,669,898
M a y -------- --------- ---- - 8,451,766
J u n e ..................... ............................ 7,098,226
7,388,291
Ju ly ...................•.............................
A u g u st............................... .............. 7,367,201

1906
£
7,445,855
7,995,860
7,276,397
7,332 086
7,116,655
7,252,029
6,059,325
6,924,140

1

Difference.
£
+1,347,421
+1,429,970
+833,863
+2,337,812
+1,335,111
— 153.803
+1,328,966
+443,061

767

Immtx crcial mid UXis.c c11a u eoits liicxim
STOCK O F M O N E Y IN T H E C O U N T R Y — The follow
ing table shows the general stock of money in the country
as well as the holdings by the Treasury, and the am ount in
circulation, on the dates given. The statement for September 1
1906 will be found in our issue of September 29 1906, page 730.
Slock of Money Sept. 1 1907.
I n United
Held In
States.
Treasury .d

$

$

Gold coin and b u llio n ..1,472,563,328
Gold certificates.a_____
________
Standard silver dollars. 562,464,530
Silver certificates.a____
________
Subsidiary silv e r______ 131,504,478
Treasury notes of 1890.
5,787,000
United States notes____ 346,681,016
National bank notes___ 604,056,321
T o ta l.......................... 3,123,056,673

Money In Circulation--Sept. 1
Sept. 1.
1907.
1906.
S
$
560,356,994
676,179,514
627,905,609
519,965,889
78,938,609
82,114.368
460,505,171
473,292,991
123,118,909
113,399,532
5,777,961.
7,112,252
342,501,772
338,728,846
586,920,836
559.295,666

201,267,465
83,033,260
8,339,162
11,505,829
8,385,569
9,039
4,179,244
17,135,485
333,855,053

2,789,201.620

2,766 913,299

Population of the United States Sept. 1 1907 estimated at 86,311,000; circulation
per capita, S32 32.
*
A revised estimate by the Director of the M in t of the stock of gold coin was
adopted in the statement for Aug. 1 1907. There was a reduction of $135,000,000.
a For redemption of outstanding certificates an exact equivalent in am ount of
the appropriate kinds of money is held in the Treasury, and is n o t included in the
account of money held as assets of the Government.
d This statement of money held in the Treasviry as assets of the Governm ent does
not Include deposits of public money in National B a n k Depositaries, For a full
statement of assets see P ublic D ebt Statement.

National B anks.— The following inform ation
national banks is from the Treasury Department:

regarding

N A T IO N A L B A N K S O R G A N IZ E D .
Certificates issued from Sept. 16 1907 to S ept. 21 1907, Inclusive.
8.872— The F irst N a tio n a l B a n k o f R o c k v ille C en tre, N ew Y o r k .
C a p ita l,
$25,000.
G . B y ro n L a tim e r , P re siden t; J o h n H . C a rl, Vice-Presi
d e n t.
8.873— The F irs t N a t i o n a l'B a n k of A m ity v llle , N e w Y o r k . C a p it a l.
525,000. W . W . H u ls e , P re siden t; W . E . H o llo w a y , Vice-Presi
d e n t.
8.874— T he F irs t N a tio n a l B a n k o f F o r t L ee, N e w Jersey . C a p ita l, $ 25 ,00 0.
J o h n C. A b b o tt , P re siden t; W m . E . H o llo w ly a n d H e r m a n H .
G h e n t, V ice-Presidents; J . C . H o w e ll, C ashier.
8.875— -The N a tio n a l B a n k of C h ilh o w ie , V ir g in ia .
C a p ita l, $ 25 ,00 0.
R . F . Y o u n g , P re siden t; L . M . Cole. V ice-President; W . E . Umbarger, C ashier.
8.876— T he F irs t N a tio n a l B a n k o f M o rris, In d ia n T e rrito ry . C a p it a l,
$25,000. L . R . K e rsh a w , P re siden t; F . C . H u b b a r d , Vice-Presi
d e n t; W . J . A n ic k e r, C ashier.
8.877— The C a b o o l N a tio n a l B a n k , C a b o o l, M issouri.
C a p ita l, $25,000.
J o h n H . B a u c h , P re siden t; S a m u e l J . S aly e r, V ice-President;
J . M c D o w e ll, C ashier.
8.878— T he F a rm e rs’ N a tio n a l B a n k of S u n m a n , I n d ia n a . C a p it a l,
$25,000. C . N e u fa r th , P re siden t.
8.879— T he H o m e N a tio n a l B a n k of U n io n C ity , P e n n s y lv a n ia . C a p it a l,
$50,000.
D a lla s G . S m ile y . P re siden t; R u la f F u lie r , V ice-President
F re d W . Reese, C ashier.
8.880— The F irs t N a tio n a l B a n k of L o rd s b u rg , N ew M exico. C a p ita l,
$25,000. W . H . S m a ll, P re siden t; J o h n T. M cC abe, V fce-President;
F ra n k R . C o o n , C ashier.
8.881— The F irs t R a tio n a l B a n k o f M c C lu sk y , N o r th D a k o ta . C a p ita l,
$25,000. J . A . B ec k , P re siden t; W. H . M c C lu s k y , V ice-President;
E . B . R o b e rts o n , C ashier.
8.882— The F irs t N a tio n a l B a n k o f F a rm in g d a le , N e w Y o r k . C a p ita l,
$25,000. A d o lp h B a u sc h , P re siden t; J . F . M ichel a n d C h r. F u c h s ,
V ice-Presidents; J . P . S c h w a rtz , C ashier.
8.88 3 — T he F a rm e rs ’ N a tio n a l B a n k o f S ta ffo rd , K a n s as. C a p ita l, $25,000.
J . D . L a ra b e e , P re siden t; R . S. T h o m p s o n . V ice-President; F . S.
L a ra b e e , C ashier; F . C . K a th s , A ssista n t C ashier.

Per
Cent.
+18.2
+17.8
L IQ U ID A T IO N S .
+11.6
+32.0 4,435— T he C o lu m b ia N a tio n a l B a n k o f L in c o ln , N e b ra s k a , was placed
In v o lu n ta r y liq u id a t io n J u ly 20 1907.
+18.8
— 2 1 8,090— T he D a y t o n N a tio n a l B a n k , D a y t o n , W a s h in g to n , w as placed in
v o lu n ta r y liq u id a t io n A u g u s t 27 1907.
+21.9
+6.2 8,386— T he M o rto n N a tio n a l B a n k of M a d is o n v ille , K e n tu c k y , w as placed
in v o lu n ta r y liq u id a t io n S eptem b er 14 1907.
E ight m onths........................... 66,304,748
57,402,347
+8,902,401 +15.5
Note.— The aggregate figures are official. They indicate that slight adjustments
Auction Sales.— Am ong other securities the following, not
have been made in the m onthly returns as issued.

English Financial M arkets— Per Cable.
The daily closing quotations for securities, &c., at London
as reported by cable have been as follows the past week:
London,
Week ending Sept. 27.
Sat.
M on.
Tues.
Wed Thurs. F rl.
313-16
Silver, peroz....................... d . 31 3-1631 1-16 31 1-16 31 1-16 31%
Consols, new, 2% per cen ts.. 82 5-16 82% 82 5-16 82 3-16 82 15-16 82%
For account......................... 82% 82 7-16 82%
82%
82%
82%
French rentes (In P a rts)_.fr. 91.05 93.59
94.0594.07% 94-10
94.07%
Russian Imperial 4s. _____. - 7 5 %
76%
76%
76%
77
77%
do
do
New 5s-.........87%
87%
87%
88
88
63%
61%
62%
62%
62%
Amalgamated Copper Co____ 64
& Anaconda Mining C o______
8%
8
7%
8
8
7%
Atchison Topeka <fe Santa Fe 90%
90%
89%
90%
90%
89%
Preferred ................... ........92%
92%
92%
92%
92
92
Baltimore & O hio................... 94
93%
93%
94%
94%
94%
Preferred ........................... 87
87
86%
8 %
86%
86%
Canadian P a c ific .................. 169%
169%
169%
169%
169%
167%
Chesapeake & O h io ............... 35
35%
35%
35%
35
34%
Chicago Great Western---- 10
10
10
10
9%
9%
Chicago Milw. & S t. P a u l...1 2 5
125
124%
125
124
121%
D e n v e r * Rio Grande, c o m .. 24%
24%
24
24%
24%
24%
Preferred ........................... 69%
70%
71
71
71
71
Erie, common......................... 21%
21%
21%
21%
21%
21%
- First preferred..................49%
48%
48%
48%
48
48
'•* Second preferred-............. 37
39
39
39
37
37
Illino s Central.....................-143%
143
142 •
142
142
142
Louisville & Nashville.........-112%
112
112
112
112%
111%
Mexican Central..................... 17%
18
17%
17%
17%
17%
Missouri K a n . & Tex., c o m .. 37
■ • 37%
36%
36%
36%
36
Preferred ................... ........67%
67%
• 67%
68
68%
68
National R R . of Mexico____ 49
48%
48%
48
48
48%
N . Y . Central <fc H u d . R iv er. 109%
110%
109%
110
110
108%
N . Y . O n t. & Western, com . 35
35
35
35
35
34
Norfolk & Western, com ____ 73
73%
73%
73%
73%
74
Prefefred ........................... 84
84
84
84
84
84
Northern Pacific..................1 3 6
136%
135%
135%
134%
133
a Pennsylvania....................... 62%
62%
61%
62
62
61%
a Reading C o......................... .. 50
50%
49%
49%
49%
48%
• a First pre erred................. 42
41%
41%
41%
41%
41%
T-*a Second preferred............. 41%
41
41
41
41
41
Rock Island C o ...................... 20%
20%
20
20
20
19%
Southern Pacific..................... 87%
87%
86%
86%
87%
86
Southern R y ., common......... 16%
16%
16
16%
16%
16%
Preferred ........................... 57
57
56
55%
55%
55
Union Pacific, common.........135%
135%
134%
134%
134%
132
Pre erred
................... 84
84
83%
84
84
84
IT. S. Steel Cor])., com ...........29%
29%
28%
28%
28%
28
Preferred ........................... 94%
95%
93%
93%
93%
92%
Wabash ................................. 11%
11%
11%
11%• 11%
11%
Preferred ........................... 21
21
21
20%
• 20%
20%
Extended 4s............... ........55% 55% 73 58
57H>
- 58
58
a Price per sbere. b £ sterling.




regularly dealt in at the Board, were recently sold at auction:
By Messrs. A drian H . Muller & Son:

Stocks.
1 N . Y . S ocie ty L ib r a r y -.102
1 A m e ric a n A r t U n io n ___ )
10 B u l l ’s H e a d B a n k ______^$9 lo t
200 V a r k u fl M g .S m .& M . CoJ
19 M e rc h a n ts N a t B a n k ____ 152
100 N a rra g a n se tt B a y S u p .
Co. C o m _______________ $1 lo t
20 4 th N a tio n a l B a n k ______169
25 M e tr o p o lita n S u re ty C o . 150
30 N assau T r. C o. of B k ly n .1 9 0
5 H ills B rothers C o ________ 100
142 U n ite d Shoe M a c h . C orp .
C o m _________ $40 pe r share
10 B a n k o f C ha rle ro i, P a ___ 400
2,000 B a m fo rd B ros. S ilk M fg.
C o __________________ $5,000 lo t
10 B a n k of N . Y . , N . B . A ..3 0 1
54.6 D e n v e r U n io n W a te r Co.
P r e f e r r e d ______________4 8 %

B onds
$ 1,000 R ic h m o n d P a ss’g 'r &
P o w . C o. C ons. 5s, J u ly
1904, C o u p o n a tt a c h e d (C tf. o f D e p .) ____________ 8 0 %
$160 C ol. M id la n d R R . P re f.
S to c k S crip . (C tfs of D e p .) $2 lo t
$270,000 C ol. & N o r th w . R R .
C o. 1st 5s, 1954, J & J . ,
J a n . , 1906, c o u p , attached. 25
$15,000 W e s te rn Ice C o. G e n .
& C o l. 5s, 1957, J . & J ____
64
$18,000 D u r h a m L t . & P o w .
C o ., D u r h a m , N . C . , 10Y e a r im p t . 5s______________
35
$2,000 H u n s o n R i v . E le c t, P .
C o. 1st 5s, 1944___________ ,i- 70

D IV ID E N D S .
The following shows all the dividends announced for the
future by all large or im portant corporations:

Dividends announced this week are printed in italics.
Name o1 Company.
Railroads (Steam ).
Atlantic Coast Line R R ., preferred.............
Beech Creek, guaranteed ( q u a r .) _ ___
Belt R R . & Stock Yards, In d ., pf. (guar.)
Belt Railway, Chlcaqo (quar.)...................
Boston & A lbany ( q u a r . ) _______ ____
Boston & Maine, com. (quar.) (No 168).
Canadian Pacific, com m on.......................
Common (extra)................................. ..
Central of New Jersey (q ua r.)__________
C hartiers......................... ............................
Chicago Burlington & Quincy ( q u a r .)..
E xtra _____ __ _______ ________ _____
Chicago & Eastern Illinois, pref. (quar.).
Chic. Miliy. & St. Paul, com. and p re f..
Chicago <fc North Western, pref. (q uar.).
Chicago Rock Island & Pacific (q u a r,)..
Chicago <k Western In d ia n a (quar.).........

Per
Cent.
2%
1
1%
2
2
1%
3
%
2
2
5
2
6
1%
3%
1%
1%

When
Payable.
Nov.
Oct.
Oct.
O ct.
Sept.
Oct.
Sept.
Sept.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
O ct.

Books Closed.
Days Inclusive.

10 Nov. 2
Nov. 10
to
1 Ho ders of rec. Sept. 23
1
1
Not closed.
30 Holders of rec. A ug. 31
1 Holders of rec. Sept. 3
to
Oct. 2
30 Sept. 1
2
30 Sept. 1
Oct.
to
Oct. 2
1 Sept. 1
to
NOV. 3
1 O ct. 18
to
1 Holders of rec. Sep. 25a
2
to
O ct.
1 Sept. 25
to
1 Sept. 25
O ct. 2
to
Sept 22
1 Sept. 19
3 Holders of rec. Aug. 21
1 Holders of rec. Sept 14
1 Sent. 11
to
O ct. 10
1 Not closed.

768

THE CHRONICLE.
Name of Company.

P er
Cent.

When
Payable.

Books Closed.
Days Inclusive.

Name of Company.

[V o l .
Per
Cent.

When j
Payable.

lxxxv

.

Books Closed.
Days Inclusive.

Miscellaneous.— (Concluded.)
Railroads (Steam).— (Concluded.)
Sept. 30
Sept. 19
O ct. 1 American Radiator, common (q ua r.)___
Sept. 30 Sept. 22
to
Cleveland Lorain & Wheeling, preferred.
2 'A [Oct.
to
Colorado & Southern, first preferred____
2
Oct.
Sept. 15
O ct. 1 American Screw ( q u a r .) ________________
Sept. 30
2)4 Sept. 30 Sept. 21
Second preferred____________________
2
;Oct.
Sept. 15
1 Sept. 22
Oct.
to
O ct. 1 American Sewer Pipe (quar.)___________
to
Oct
1
CrlppleCreekCent.,com. (quar.)(N o. 9 ) .
1A lo c t.
O ct. 12
to
O ct. 21 American Shipbuilding, pref. (q uar.)___
O ct. 15
to
I K Oct. 15iSept. 8
1)4
2
Oct. 15!Sept. 28
Preferred (quar.) (No. 10)____________
1
l
IOct.
O ct. 12
O ct. 21 Amer.Smelt.& Ref.,com.(quar.) (No. 16)
to
to
O ct. 15
liS ept. 21
to
DelawareLackawanna & Western (quar.) .
2A O ct.
O ct. 20
Preferred (quar.) (No. 33)...................
to
Oct.
1
O ct. 4
2)4
I K Oct.
11Sept. 15
to
3
Erie, first preferred____________________
2i
I____
Sept. 18
Oct.
to
O ct. 8 American SnulT, common (q ua r.)______
Oct. 1
liS ept. 15
to
Second preferred_____ _______________
21
____
O ct. 11
N ov. 5
Preferred (q ua r.)_____________________
1
to
Oct.
1)4 Oct.
2iSept. 1
to
Evansville & Terre Haute, comm on____
4
I Nov.
liS ept. 21
to
Oct. 2
O ct. 21 American Sugar Refining, com. (q uar.).
I K Oct.
2,Sept. 1
to
Pijpferred_____________________ _______
15 Sept. 15
Preferred (q uar.)____________________
Oct. 2
2 ^ 6 'Oct.
to
O ct. 15
I K Oct.
to
Genesee. & Wyoming_____________ ______
Sept. 30;Sept. 15
2
Sept..30
2
[Oct.
li Holders of rec Sept. 20 American Surety (quar.) (No. 7 3 )______
Georgia Railroad & Banking (quar.)_____
to
15:O ct. 2
to
2
Oct. 14
O ct. 14 American Telephone & Teleg. (quar.)__
O ct. 15 jOet. 1
2 % O ct.
to
Great Northern (quar.)_________________
liS ept. 15
O ct. 1
O ct. 16
to
Nov. 3 American Tobacco, preferred (quar.)___
I K [Nov,
1A Oct.
Interborough R apid Transit (q uar.)____
S e p t.17
to
O ct. 15iHolders of rec. Oct. 10
Sept 30 American Type Founders, common (qu.)
2)4 iOct.
Kansas City Southern, preferred (quar.)
O ct. 1
1
Oct.
to
Preferred (q uar.)...............................
O ":
4
O ct. 15: Holders of rec. Oct. 10
M anhattan R y ., guar, (quar.) (No. 94).
Sept. 14
Oct. 15
Oct.
to
to
Sept 24 American Woolen, pref. (quar.) (No. 34)
I K ^>ct. 15 Sept. 27
IK
2
M inn. S t. P . & S. Ste. Marie, eom.(No.9)
Oct.
2 [Oct.
S e p t.28
to
Oct. 15 Bell Telephone of Canada (q uar.)_____
15 !Holders of rec. Sept. 25
Preferred (No. 9 )____________________
Sept. 28
Oct. 15
3)4 [Oct.
to
to
O ct. 15 Bell Telephone of Philadelphia (q u a r.)..
15 O ct. 6
1)4 Oct.
New York Central & H u d . R iver (quar.)
1)4 O ct.
Holders of rec. Sept. 30 Bliss, E . W ., common (quar.)_____
1 Sept. 29
to
Sept. 30
2)4 Oct.
2
New York & Harlem, common & p re f..
Oct.
2 Oct.
Holders of rec Sept. 14
Preferred (quar.)_______________
to
Sept. 30
1[Sept. 29
$15
New York Lackawanna & Western (qu.)
Sept. 28 Holders of rec. S ept.11
1 Sept. 15
to
S e p t.30 Calumet & Hecla Mining (q u a r.)..
I K Oct.
New York New Haven & Hartford (qu.)
30 Holders of rec. Sep. 14a Celluloid Company (q uar.)_______
2 Sept.
1 Holders of rec. Sep. 13a
1)4 Oct.
Norwich & Worcester, pref. (q uar.)____
1 Sept. 22
to
1)4 Oct. 15 Oct. 1
2 Oct
Oct. 15
to
Sept. 30 Central Coal &Coke, common (q uar.)___
Pittsburgh Bessemer & Lake Erie, com .
Preferred (quar.)_____ _________
to
I K |Oct. 15 Oct. 1
1;Holders of rec. Sept. 14
O ct. 15
1)4 Oct.
IK
Oct.
P itts. F t. W ayne & Chic., guar. (q ua r.).
8 !S e p t.15
to
1 Holders of rec. Sept. 10
O ct. 8 Central Leather, preferred (quar.).
I K Oct.
Special, guaranteed (quar.)__________
1 Sept. 15
to
9 Oct. 1
Oct.
1 Central & South American Telegraph (qu.)
to
1)4 Oct.
Oct. 9
I K [Oct.
Reading, second preferred_____________
2
Oct.
2
Nov.
9 Holders of rec. O ct. 22 Chic. Je t. R y s.& U . Stk. Yds.,com . (qu.)
1 Sept. 13
to . O ct. 1
S t. Louis & San Francisco, 1st pf. (qu.)_
i
;oct.
IS Sept. 17
to
Preferred (quar.)____________________
1iS e p t.13
O ct. 1
ta
Oct.
1)4 Oct.
1
Chic. & East. II ., pref. tr. certs, (q u ,)
liS e p t. 17
1
O ct. 25 O ct. 17
to
to
1hi 'Oct.
O ct. 1 Chicago Pneumatic Tool (q u a r.)_________
O ct. 25
K . C . F t . S . & M ., pref. tr certs (q u .)
1 [Oct.
1 S ept.17
2)4 Sept 30 ISept. 22
to
O ct.
1 Chicago Telephone (quar.)_____________
to
Sept.30
1
Southern Pacific Co., com. (quar.) (No. 4)
iOct.
1 j...............
Cincinnati Gas & Electric (q uar.)______
1 Holders of rec. Sept. 18
1H
O ct.
Southern, preferred____________________ j iy 2 Oct.
1 7 jSept. 22
to
O ct. 17 Columbus Gas & Fuel, preferred (q ua r.).
1 Holders of rec. Sept. 14
I K [Oct.
Mobile & Ohio stock trust certificates. I 2
Oct.
L S e p t.15
to
Sept. 30 Colum. & Hock. Coal & Iron, pref. (qu.)
1 Sept. 21
to
O ct.
1)4 Oct.
1
Toledo S t. Louis & Western, preferred.
I
to
3
Oct.
Oct. 15 Oct.
to
Oct. 1
O ct. 15 Consolidated Cotton Duck, preferred___
1 Sept. 21
L S ept. 15
Union Pacific, common (q uar.)_________| 2)4
Oct.
to
O ct. 8 Consolidated Gas, Elec. Lt. & P ., B a lt.—
Preferred and prl*r lien stock________
2
Oct.
1 Sept. 15
Preferred_________________
to
3
O ct.
Oct. 8
1! Holders of rec. Sept. 27
Sept. 3o Corn Products Refining, pref. (q u a r.)..
Utica & Black R iver, guaranteed
3 H Sept. 30 Sept. 15
to
1
O ct.
to
10 O ct.
O ct. 9
15 O ct. 6
Warren, guaranteed---------------- j 314 iOct.
to
to
Oct. 14 Crucible Steel, pref. (quar.) (No. 2 0 )..
1 Sept. 22
O ct. 1
1)4 Oct.
Street Railways.
Oct.
lj Sept. 24
to
O ct.
Cumberland Tel. & Tel. (quar.) (No. 96)
1
IK
Amer. Cities R y . Ar L t., p f. (qu.) (No. 5)
I S e p t.22
to
O ct. 1 Distillers’ Secur. Corp. (quar.) (No. 20).
1}4 O ct.
to
1)4 O ct. 26 Sept. 26
Aurora Elgin & Chicago, com. (No. 1 ) ..
7 Sept. 26
to
O ct. 16
K O ct.
O ct. 15 Dlstilllng Co. of America, pref. (quar.)___
1)4 O ct. 15;Sept.26
Preferred (q uar.)--- ----- ------7 S ept.26
to
IOct.
liS e p t. 21
I K Oct.
to
Sept.30
O ct. 15 D om inion Coal, Lim ited, common (qnar)
Bangor Railw ay & Electric (q u a r.)____
I ISept. 21
to
Oct. 1 D ulu th Edison Elec., pf. (quar.) (No. 6)
I Holders of rec. Sep.25a
I K Oct.
1)4 IOct.
Boston Suburban Elec. Cos., pref. (quar.).
I ISept. 1
to
75c. O ct. 15 Holders of rec. Sept. 28 Eastm an Kodak of N . J ., com. (q u a r .)..
Sept. 15
2)4 Oct.
1 jSept. 1
to
Com mon, extra.......................................
Capital Traction (W ash., D . C.) (quar.)
lj Sept. 15
to
i y2 O ct.
5
IOct.
Sept. 30
Sept. 15
LSept. 1
to
Chicago City Railway (q uar.)___________
to
Preferred (quar.)____________________
Sept. 15
Sept. 15
l lA Sept. 30 Sept. 10
1)4 Oct.
Cincinnati Street R y . (quar.)....... ............
1[Sept 21
to
2
1 Holders of rec. Sept. 16 Electric Boat, preferred (q ua r.)________
Oct.
Sept.30
1)4 O ct.
Cleveland Electric R y . (q ua r.)________
1 Holders of rec. Sept. 27
1 Sept. 20
to
Sept. 36 Electric Storage Battery, com. & pf. (quar)
K Oct.
I K Oct.
Columbus Newark & Zanesville, pf. (qu.).\ 1)4 Oct.
1 Sept. 26
to
l; Holders of rec. Sep. 19a
S ept.30 Evansville Light, preferred (q u a r.)____
1)4 Oct.
Duluth-Superior Traction, pref. (q u a r.)..'
liS ept. 22
to
1 S e p t.26
1
Oct.
to
Sept. 30 General Chemical, preferred (quar.).--O ct. 1
1)4 Oct.
Easton (Pa.) Consolidated Electric C o ..
15: Holders of rec. Sep. 14a
1 Sept. 22
2)4d\Oct.
2
Oct.
to
O ct. 1 General Electric (q u a r .) ________________
2
to
Forest C ity R y . (q u a r.)-------------j 1)4 Oct.
1 Sept. 27
Sept.30
to
Sept. 30! Sept. 14
O ct.
1 Granby Consol. Mining & Smelt, (quar.)
H avana Elec. R y ., pref. (quar.) (No.7)_[
1)4 Oct. 15 Sept. 30
to
E xtra____________ ____________________
Sept. 30 Sept. 14
to
O ct. 15
Sept. 30
1
Houghton Co. Street R y ., pre'. (No. 11) , 3
Oct.
Holders of rec. Sept. 14 Great Lakes Towing, preferred (q uar.).
n o e p ^ i i • co
O ct. 1
I K O ct.
Johnstown (Pa.) Passenger R y . (quar.)
K Sept.
Holders of rec. Sept. 30 Guggenheim Exploration (qu.) (No. 19).
ljS e p i^ U
to
O ct. 1
2)4 Oct.
Knoxville Railway & Light, common (qu.) | 1
Sept.
Harbison-Walker Refr., com (N o.l) (qu.)
1 Holders of rec. Sept. 20
)4 Oct.
Preferred (quar.)----------------1)4 Sept.
Hecker-Jones-Jewell M i l l i n g . . . ________
12
O ct. 30
O ct. SO.
Louis. & N or.R y. & Ltg., class " A " (qu.)
Sept. 26
Oct.
to
Sept. 30 Hudson R iver Telephone (q uar.)______
Oct. 15 Oct.
Oct. 15
1
Sept. 26
Class “B ” (quar.)------- ---- ---Oct.
to
Sept. 30 International Banking Corporation______ [ 2
O ct. 10 Holders of rfcc Oct. 5
Louisville Traction, common (q u a r .)..
Sept. 11
to
O ct.
O ct.
1 International Nickel, preferred (q u a r.)..!
1 Oct. 11
to
Nov. 1
1)4 Nov.
Sept. 11
Preferred_____________________________
to
O ct.
1 International Paper, pref. (q u a r .)...:__ j
2)4 O ct.
lS e p t . 15
Sept. 24
1)4 Oct.
Macon Railway & Light, preferred.........
Sept. 25
to
3
Oct.
Sept. 30 International Silver, pref. (q ua r.)...........\ 1)4 Oct.
liS e p t. 18
O ct.
1
to
Manila Electric Railroad & L ig h tin g ___
Sept 24
Oct.
to
O ct. 1 Mackay Companies, rom.&pref .(qu.)_ _
1
Oct.
L S ept. 16
Sept. 30
Memphis Street R y ., pref. (quar.)----- 1-1K Sept.
Sept. 22
to
Sept. 30 Manning, Maxwell & Moore (q uar.)____
- ..................................
1)4 Oct.
Sept. 22
Metrop. W est Side Elev., Chic., p f . (qu.)
K Sept.
to
Sept. 29 Massachusetts Lighting Cos. (q u a r .) ____
I
1)4 IOct. 15; Holders of rec. Oct.
New Orleans Railways & Light, pref--- 6 2 ^ c. Oct.
O ct. 1
to
Oct. 14 Mergenthaler Linotype (q u a r .)_________[ 2)4 Sept. 30 i Sent. 15
to
Sept. 30
Omaha & Council Bluffs, pref. (quar.).A 1K
S e p t.22
O ct.
Sept .30
Mexican Telegraph (quar.)_____________ j
16;Oct. 1
to
O tt. 1-6
2)4 Oct.
Portland (Ore.) R y ., L t.& P ., pf .(quar. | 1,14
Holders of rec. Sept. 15 Michigan L ight, common.........................j
Oct.
1 Holders of r«c. Sep. 19a
1
|Oct.
Public Service Corporattonof N . J .(quar) \1
Holders of rec. Sept. 24
Sept.
Preferred (quar ) ____________________
1 Holders of rec. Sep. 19a
1)4 Oct.
Rochester Railway, preferred (quar.)_____ _1K
Holders of rec. Sept. 21 Milwaukee & Chicago Breweries, L t d .. ! 3
Oct.
1jSept 24
to
Oct.
1
[Oct.
Rockford & Interurban, common (quar.). . j 2
Sept. 29
to
Oct.
O ct. 1 National Biscuit, common (q ua r.)_____ I
to
Oct. 15
I K O ct. 15; Sept. 30
Preferred (quar.)_______________________1)4
1' Sept. 29
to
Oct.
O ct. 1 National Carbon, common (quar.)_______ j
to
1
[Oct. 15 O ct. »
Oct. 15
S t. Joseph(Mo.) Ry., L. H. & P., pf. (qu.) j I K
Oct.
lj Holders of rec. Sept. 16 National E nam . * Stam ping, pref. (qu.)
to
1K h Sept. 30:Sept. 11
Oct. 1
Sao Paulo Tram . Light & Power (q u a r.)J 2
liHolders of rec. Sept. 21 National Fire Proofing, pref. (quar.)____!
O ct.
1
IOct. 15'Holders ct rec. Oct. 1
Savannah Electric Co.. pref’. (No. 12) ..1 3
Oct.
lj Holders of rec. Sept. 12 National Lead, common (quar.) (No. 15) [ I K [Oct.
liSept. 14
to
O ct.
1
Seattle Electric Co., pref. (No. 14)____ [_3
l! Holders of rec. Sept. 10 National Licorice, preferred ( q u a r .) ____
Oct.
to
1)4 Sept. 30jSept.24
Sept. 30
South Side Elevated, ChfPago (quar.)..| 1
to
Sept 30 1Sept. 20
Sept. 30 National Light, Heat <fc Power, pf. (quar.)
LSept. 25
to
O ct. 1
I K [Oct.
Springfield (fli.) R y . & Light (q u a r .)..! 1
1 Holders of rec. Sept19a
2 Sept. 19
to
Oct.
1)4 Oct.
National Sugar Refining, pref. (quar.) . . I
O tt. 2
Syracuse R apid Transit, preferred (quar.)' 1)4
l! Holders of rec. Sept. 23
O ct.
to
|Oct. 22 O ct. 5
New York A ir Brake ( q u a r .) .................I 2
O ct. 21
Toronto Railway (quar.)--------------[-1)4
O ct.
1 Holders of rec. Sept. 14 New York Dock, preferred.....................
2
Oct.
15 Holders of rec. O ct. 1
Tri-City Railway & L ight, pref. (q ua r.). 1)4
1:Sept. 24
to
Oct.
15 Holders of rec. O ct. 5
O ct. 1 N . Y . & N . J . Telephone (quar.) (No. 96) j I K IOct.
Twin City R a p. Tran. M lnneap.,pt.(qu.)j I K
I [Holders of rec. Sept. 16 Otis Elevator, common and pref. (quar.)
Oct.
1)4 JOct. 15: Holders of rec Sept.30
United Railways. St. Louis, pref. (quar.)[ I K
Oct.
10lSept.26
to
O ct. 10 Pennsylvania Salt Manufacturing______
6
Oct. 15;Ho!ders of rec. Sept. 23
l jS e p t .ll
to
United Trac. & Elec., Prov. (q u a r.)--- 1-1)4
Oct.
Oct.
1
1
Oct. 15[Holders of rec. Sept. 23
E x tr a ________ ________________________
Utica & Mohawk. Valley R y ., pref (quar.), I K
Oct.
Peoria Light, preferred (q uar.).............
[Oct.
llHoders of rec. Sep 19a
Washington Water Power, Spokane (quar) \1K
li Holders of rec. Sept. 20 Pittsburgh Plate Glass, common (quar.)
Oct.
l'S e p t. 22
to
Oct. 1
I K [Oct.
West E n d Street, Boston, com m on--- i-3 A
I I S e p t.22
to
Oct
O ct. 1 Procter & Gamble, preferred (q uar.)___
15 S e p t.22
to
2
:Oct.
O ct. 14
Banks.
P ullm an Company (quar.) (No. 163)____
2
|Nov. 15[
1[Holders of rec. Sept. 25 Quaker Oats, common (q uar.)__________
C m tu r y ________________________________ ,_3
Oct.
1)4 Oct. 15 [Holders of rec. Oct. 5
Chatham National (q u a r .)........... ............j... 4
Oct.
LS ept. 28
to
Sept. 30
Common (extra)....................... ..............
H [Oct. 151 Holders of rec. O ct. 5
11Holders of rec. Sept. 12 Railw ay Steel Spring, common________
Oct.
Coal & Iron National (q ua r.)................... ....1)4
2
Oct. 22!O ct. 11
Oct. 22
to
Commerce, National Bank of (q u a r .)..! 2
1 Sept. 19
O ct.
to
3
!Oct.
Oct.
1 Realty Associates (No. 9 )------------15 Holders of rec. O ct. 5
First National, Brooklyn (quar.)............. ..... 4
Oct.
l;Sept. 26
to
Sept. 30
2
(Oct. 15, Holders of rec. Oct. 5
E x tr a _______________________ _____ ___
5; Holders of rec. Sept. 25 Republic Iron & Steel, preferred (quar.)
Gallatin National (No. 150)-----------j-6
Oct.
O ct. 16
1 Sept. 17
to
I K Oct.
Garfield National (quar.)........................... ... 3
Sept. 30 Sept. 26
to
Sept. 30 Rhode Isl. Perkins Horseshoe, pf.(quar.)|
15: Holders of rec. O ct. 1
I K Oct.
Hanover National (q uar.)---- ------ -4
I Sept. 21
Oct.
to
1
Sept. 30
15 Holders of rec. Oct.
E x t r a -- -------- -------------)4 Oct.
Home. Brooklyn (q ua r.)-------------2
LS ept. 21
Oct.
to
Oct
1 Royal Baking Powder, preferred (quar.) j 1)4 (Sept. 30 Holders of rec. Sep. 14a
I ISept. 26
Manufacturers’ National, B klyn. (quar.). 3)4
Oct.
to
O ct. 1 Safety Car Heating & Lighting (q u a r .).. | 2
1 Holders of rec. Sep. 14a
Oct.
Market & Fulton National (q ua r.)_____ __2)4
Oct.
O ct.
1
1 S e p t.18
to
to
Sept 30 Sears, Roebuck & C o., nref. (q uar.)--liS e p t .16
I K [Oct.
Mechanics’ National (q uar.)................... ... 3
lj Holders of rec. Sept. 21 Sloss-Sheffleld Steel & Iron, pref. (quar.)
Oct.
1 Holders of rec. Sept. 17
I K iOct.
Mechanics & Traders (q uar.)........... ........... 2)4
1 S e p t.21
Oct.
to
to
Oct. 25
Sept. 30 Street’s West. Stable Car L ., com. (qitur ) . i
H [Oct. 25 Oct. 15
Metropolitan (q uar.)-----------------1
1 S e p t.22
Oct.
to
Oct.
Sept. 30 Subway Realty (q ua r.)------------- !
to
1
1 Sept. 17
I K Oct.
Nassau N at., Brooklyn (quar.) (No. 89). 3
1 Sept. 29
Oct.
to
to
Oct. 7
7 Sept 22
Sept. 30 Swift A C o. (quar.) (No. 8 4 ) ....................
I K ^Oct.
New Amsterdam National (q ua r.)......... ....3
Oct.
to
1 Sept. 28
to
1 Sept. 22
O. ct. 1
O ct.
1 Tefft-Weller Co., preferred (q uar.)____[ 1)4 Oct.
Nineteenth W ard (quar.) (No 25)_____ __ 2
Sept. 30[Sept. 21
to
Sept. 30 Texas & Pacific Coal (q uar.)----- ---- ! 1)4 Sept. 301Sept. 21
to
Sept.30
1 Sept. 26
Oriental (quar.)_________________________ [__2)4
Oct.
to
to
Sept. 30 Union Bag & Paper, pf. (quar.) (No. 34)
O ct. 15
1
Oct. 15 O ct. 1
Park, N ational (quar ) ............................. 1... 4
to
1 Sept. 21
1 Sept. 21
to
O ct.
O ct.
Sept. 30 Union Ferry (quar.)....................... ............1
)4 iOct.
Trust Companies.
1 to
Oct. 10
Union Switch & Singal, com. * pf. (qu.)
3
[Oct. 10 O ct.
America, Trust Co. of (quar.) (No. 25).: 8
L S ept. 21
liS e p t .21
O ct.
to
to
O ct. 1 Union Typewriter, common (No. 1 2 )..
Sept. 30
3
Oct.
1 Sept. 21
E xtra ____________ _____ ____________ 1__2
l Sept. 21
O ct.
to
to
O ct. 1
First preferred (No. 2 9 ) . . . .................[ 3)4 :Oct.
S e p t.30
Bankers’ (q ua r.)________________________ __ 4
1! Holders of rec. Sep. 26a
O ct.
l Sept. 21
to
Second preferred (No. 29) — .............
4
Oct.
Sept. 30
Bowling Green (q uar.)........... ......................5
liS cot. 15
LSept. 22
Oct.
to
to
O ct.
1 United Bank Note Corp., pref. (q u a r .)..
Oct.
1
1)4 O ct.
F ifth Avenue (q ua r.)___________________ j 3
Sept. 30 Holders of rec. Sept. 28 United Fruit (quar.) (No. 33)...................
2
O c t . 15 1Holders of rec. S ept.26
Franklin, Brooklyn (quar.) (No. 69)— j 3)4
15 Holders of rec. Sept. 3ft
Sept. 30, Holders of rec. Sept. 28 United Gas Im provem ent (quar.) ______
2
Oct
Sept. 30 [Holders of rec. Sept. 30 United Shoe M ach.C orp., com. (q u a r.)..
Guaranty (q uar.)_____________ _____ ___ 1__ 5
2
O ct. 15 Holders of rec. Sept. £0
Lincoln (q uar.)____:......................... ..........j... 3
Sept. 30 Holders of rec. Sep. 20a
1 , jO ct. 15 Holders of rec. Sept. 20
Preferred (q uar.)----- ----- ----Long Island Loan & T r., B kly n. (q ua r.).j 3
1 iHolders of rec. Sept. 21 United Slates F inishing, pf. (qu.)(No.33)
O ct.
L Holders of rec. Sept. 20
I K IOct.
Metropolitan (quar.) (No. 43)-------- --6
L S ep t. 21
O ct.
1
Oct.
to
Oct. 1 United States Glass (quar.).......................
11; Holders of rec. Sept. 28
Morton (q ua r.)....................... ....................j... 5
Sept. 30 [Sept. 26
1\
Holders of rrc. Sept. 10
to
Sept. 30 United States Leather, pref. (q uar.)____\ 1)4 Oct
New York (q ua r.)___________ ________ 8
1)4 Oct.
Sept. 30ISept. 24
to
L S t. 21
Sept. 30 U .S . Reduc. & Ref., pf. (quar.) (No. 17)
to
Sept. 30
Title Guaranty & Trust (q ua r.)............... i....4
[Sept.
Sept. 30 1Holders of rec. Sept. 21 U . S. Steel Corp., com., (quar.) 1N 0 15).
'.1 2
to
Sept.30
Van Norden (quar.) (N o. 10)___________ j 2
K Oct. 25 Holders of rec. Oct. 15
to
Sept. 30 United Stales Telephone, common (quar.). ]
Sept. 3 0S ept. 21
W ashington (q ua r.)................................. ...... 3
O ct.
1 Sept. 26
1)4 [Oct. 15 Holders of rec. Oct. 1
to
Sept. 30
Preferred (q uar.)----------------- j
Miscellaneous.
$i
loct.
1. i
t.22
U tah Consolidated M in in g _____________
to
O ct. 9
Aeolian Weber Piano & Pianola, p f .(q u .) I K
2
Oct. 15 Sept. 29
to
Sept. 3 0 'Sept. 21
Sept. 30 Va.-Caro. Chem._pref. (guar.) (No 48).
to
O ct. 15
Amer. Agric. Chemical, pref. (No. 17) ..1 3
5*
Oct..
O ct. 15 Sept. 20
to
Sept. 30 Virginia Iron. Coal & Coke____ .
L S ept. 1
to
O ct. 1
Amer. Beet Sugar, pref. (quar.) (No. 33)
1)4
lj Holders of rec. Sept. 21 W aterbury Co. of N . J . , common (quar.)
Oct.
2)4 Oct
1 Sept. 21
to
Sept. 30
Amer. Brake Shoe & Foundry, com .(qu.) 1
Sept. 30 Sept. 15
Oct.
Sept. 30
to
Preferred (quar.)----- ----- ----- j 2
I Sept. 21
to
Sept. 30
Preferred (quar.)______ _____ ________ __ I K
Sept. 30 Sept. 15
to
Oct.
Sept. 30 W aterburyCo. of W . Va- (q u a r.)........... 1 1
to
1 Sept. 21
Sept. 30
American Can, pref. (q uar.)___________ __ I K
Oct.
O ct. 1 Western UnlonTeleff. (quar.) (No. 156).
Sept. 18
m
IOct. IS Sept. 21
to
Oct. 10
Amer. Car & Fdy., com. (quar.) (N o. 20) 1
O ct.
O ct. 1 Westinghouse Air Brake (q u a r.)------ , 2)4 Oct. 10 Sept 21
Sept. 12
to
O ct 10
Preferred (quar.) (No. 34)....... .................I K
Oct.
Sept. 12
O ct. 1
Oct 10
Extra ................................................— [ 2)4 Oct.
10 Sept. 21
to
American Caramel, common (q uar.)--- i 1)4
Nov.
Westinghouse Elec. & M fg., all stacks--- 1 2H Oct. 10 O ct. 4
Oct. 10
to
Common (extra)____________________ __ )4
Nov.
O ct. 10
Westinghouse Machine (quar.) (No. 48). [ 2 H Oct.
lO iOct. 1
to
Preferred (quar.) ---------------- j 2
Oct.
Sept. 11
to
Sept. 30 W blte(J.G.)A Co., pref. (quar.) (No. 18)
1, Holders of rec. Aug. 31
1)4 iOct.
A merican Chicle, common (monthly)............. 1
O ct.
O ct. 13
to
O ct. 20
Preferred (quar.)________________________ 1)4 Oct.
Sept. 26
to
O ct. 1
American Express (q ua r.)....... ................j 3
Oct.
Holders of rec. Sept. 14
a Transfer books not closed. 6 Also 2)4 % payable April 15 1908. d On $25 paid
Amer. Iron & Steel Mfg., com. & pf .(qu.)j I K
O ct.
Holders of rec. Sep 23a
American Locomotive, preferred (quar.)i 1% O ct.
Sept. 28
to
O ct. 21 in; par value of shares $50. e Payable in stock at par. h Declared 7 % payable in
American Pipe Manufacturing (quar.) __
2
i Payable La dividend warrants; also 2 % declared on
Oct.
Holders of rec. Sept. 14 quarterly installments
second preferred, payable to holders of record April 10 1908.




1
H

1

1
1

K
1
1

1

1

THE CHRONICLE.

S e p t . L'8 1907.1

769

New York City, Boston and Philadelphia B anks.— Below
Statem ent of New York City Clearing-House B anks.—
The following statem ent shows the condition of the New is a summary of the weekly returns of the Clearing-Housebanks of New York City, Boston and Philadelphia. The New
Y ork City Clearing-House banks for the week ending Sept. 21 • Y ork figures do not include results for non-member banks:
I t should be distinctly understood th a t as to all items
We omit two ciphers (00) in all these figures.
except capital and surplus the figures are the averages of the
Capital.
daily results, not the totals at the end of the week. In
Banks.
Specie.
Legals. Deposits, a Circu Clearings.
and
Loans.
lation.
other words, in reporting loans and deposits and holdings of
Surplus.
specie and legal tenders, the practice is to take the aggre” New York
$
$
$
$
$
$
$
A ug.24__ 290,807,4
203,030,8 69,035,5 1048,383,6 50,165,4 1,375,820,6
gate of the amounts for the several days of the week and A u g .31_ _ 290,807,4 1088,152,0
1087,985,4 200,889,5 69,530,9 1046,655,8 50,308,5 1,290,274.4
Sept. 7 .. 293,498,3 1088,597,2 200,317,4 08,670,2 1046,485,0 50,477,0 1,223,128,«
divide this aggregate by the number of days.
Sept.l4__ 293,498,3 1088.972,2 198,909,9 09,221,9 1044,852,4 50,049,2 1,640,946,®
Sept.2 1 .. 293,498,3 1097,579,0 202,396,5 70,204.5 1057,023.6 50,058,4 1,577,612.ft
Boston.
116,721,6
Aug. 3 1 .. 43,680,0 187,349,0 16,713,0 3,912,0 201,553,0 8,320,0
120,025,9
Sept. 7_. 43,680,0 186,313,0 16,392,0 4,052,0 205,339,0 8,284,0
142,550,8Sept 1 4 .. 43,080,0 186,379,0 17,145,0 4,409,0 208,803,0 8,339,0
146,884,2
S ept.2 1 .. 43,680,0 186,750,0 18,093,0 4,024,0 209,544,0 8,303,0
Phila.
121,487,2
A u g .3 1 .. 51,165,0 222,521,0
54,852,0
250,674,0 13,678,0
123,423,6
55,335,0
251,149,0 13,691,0
Sept. 7._ 51,165,0 222,651,0
138,744,5252,570,0 13,659,0
S ept.1 4 .. 51,165,0 224,165,0
55,549,0
Sept .2 1 .. 51,165,0 223,641,0
253,408,0 ^13,723,0 131,175.6
50,427,0

We omit two ciphers (00) In all cases.
Banks.
QQs omitted.

Capital.

$
Bank of N . Y . .
2,000,0
Manhattan C o.
2,050,0
2,000,0
Merchants’ ____
Mechanics’ ____
3,000,0
A m e r ic a ______
1,500,0
P h e n lx _______
1,000,0
City -------- 25,000,0
Chemical...........
3,000,0
600,0
Merchants’ E x .
G allatin_______
1,000,0
B u tc h . & D rov.
300,0
Mech.&Traders’
2,000,0
G ree nw ich ____
500,0
Amer. E x ch__
5,000,0
Commerce_____ 25,000,0
3.000,0
M e rcantile____
P a c if ic ___
500,0
C h a t h a m . ____
450,0
200,0
People’s ______
North America.
2,000,0
H anover----3,000.0
Citizens' Central
2,550,0
500,0
N a ssa u .............
Market & F u lt’n
1,000,0
Metropolitan __
2,000,0
Corn Exchange
3,000,0
Oriental .
750,0
Im p . & Traders’
1,500,0
P a r k _____ ____
3,000 0
250,0
East R iv e r ____
Fourth .............
3,000,0
Second .
...
500,0
First ................. 10,000,0
Irving N at E x .
2,000,0
250,0
Bowery ...........
500,0
N . Y . C o u n ty ..
German-Amer .
750,0
5,000,0
Chase.................
100,0
Fifth A venue..
German E x c h ..
200,0
200,0
G e rm an ia.........
L in c o ln -----500,0
1,000,0
Garfield.............
F i f t h __________
250,0
M etropolis____
1,000,0
200,0
West Side_____
1,000,0
Seaboard______
1st N at., Bklyn
300,0
1,000,0
L ib e rty _______
N . Y . Prod. Ex.
1,000,0
1,000,0
New Amsterd’m
1,000,0
S ta te .................
1,000.0
14th Street____

Surplus.
$
2,991,2
3,040,9
1,621,8
3,723,5
4,544,6
483,0
23,582,0
5,040,8
526,0
2,406,5
153,2
943,3
716,5
5,020,2
14.928,1
5,043,6
798,9
1,051,1
470,2
2,207,6
8,071,6
1,127,2
365,4
1,586,2
979,9
4,993,3
1,215,9
7,206,4
8,934,8
123,0
3,228,1
2,005,4
19,682,9
1,151,0
784,9
578,9
607,4
4,041,0
1,859,9
800,4
960,5
1,584,7
1,368,5
462,4
1,765,1
807,3
1,434,3
701,4
2,360,0
050,2
206,6
751,3
416,2

Loans.

Specie

Legals. Deposits, a Res'rve

$
$
$
%
$
15,109,0 26.8
16,989,0
2,323,0 1,734,0
26,722,0 26.8
23,015,0
4,890,0 2,271,0
17,714,1 26.1
15,606,1
3,599,5 1,031,2
19,329,0 25.7
20,068,0
2,957,0 2,023,0
20,323,9 25.7
3,010,0 2,215,7
20,282,0
6,680,0 25.0
7,570,0
1,544,0
133,0
158,866,4 36,632,7 ■2,100 0 139,458,0 27.7
26,828,5 28.7
26,747,7
6,008,8 1,713,1
354,4
6,316,5 23.9
6,093,0
1,158,1
5,614,5 27.2
8,167,3
920,7
607,0
1,962,5 25.6
2,200,1
447,7
55,9
3,065,0 1,574,0
18,371,0 25.2
15,845,0
1.093,2
5.963,0 24.1
350,0
5,701,1
3,121 3 1,372,2
19,227,3 23.3
27,313.0
137,693,8 17,076,7 12,074,9 113,581,0 25.0
12.912,0 25.3
17 805,7
2,377,9
891,5
3,469,0 25.0
2,983,7
301,5
589,0
5,463,4
939,4
537,7
5,361,0 27.5
399,4
2,376,7 26.8
2,108,7
240,9
14,306,8 23.7
15,500,2
1,869,7 1,528,0
63,276,4 25.9
55,691,4 10,590,9 5,795,1
3,229,4 2,210,8
20,104,3 26.9
20,003,3
222,4
3,719,2
538,5
3,934,7 19.4
1,353.0
605,5
0,850,0 28.5
7,046,1
1,970,9
10,702,5 20.0
11,191,2
177,8
5,601,0 5,040,0
41,223,0 25.8
35,939,0
9,852,7 17.6
10,090,7
1,342,6
393,2
21,910,0 25.4
25,110,7
4,194,0 1,363,0
81,005,0 26.1
72,416,0 18,167,0 3,049,0
173,4
1,253,8 23.9
1,107,3
127,0
18,099,7
3,465,0 1,903,0
19,027,3 28.5
932,0
9,220,0 25.0
8,921,0
1,372,0
92,348,1 20,660,7
805,0
80,041,0 26.8
869,0
14,740,0 27.7
15,059,0
3,229,0
3,501,0 20.5
633,0
87,0
3,392,0
772,5
386,2
0,262,7 18.4
6,304,7
194 2
3,561.7 25.0
3,756,7
094,7
54,667,7 25.0
51.105,1 12,285,7 1,390,2
10,105,1 26.8
9,463,1
1,955,5
759,5
195,0
725,0
3 505,9
3,963,9 23.2
0,034,6 28.5
4,597,1
716.0 1,004,8
13,169,7 24.1
12,681,7
1,253,7 1,920,5
294,4
7,421,9
1,378,5
7,259,1 23.1
2,976,2
2,969,7 26.1
561,3
215,5
8,590,4 23.3
1 053,2
950 1
9,218,8
598,0
3,960,0
417,0
4,316,0 23.5
15,745,0
17,895,0 25.8
3,113,0 1,509,0
534,0
3,632,0 23.6
4,039,0
320,0
464,2
10.816,4 24.5
2,189,0
12,766,3
6,392,0
459,1
7,396,0 25.5
1,427,3
387,4
4 472,2
895,3
5,247,9 24.4
157,0
15,492,0 17.9
14,203,0
2,022,0
554,1
0,950,4
978,0
7,243,0 21.1

a Including for Boston and Philadelphia the Item “ due to other banks,” and aiso
Government deposits. For Boston these Government deposits amounted on
September 21 to §3,925,000; on September 14 to 33,590,000.

Im ports and Exports for the W eek.— The following are
the imports at New York for the week ending Sept. 21. also
totals since the beginning of the first week in January:
F O R E IG N IM P O R T S AT N E W Y O R K .
For Week.

1906

1907.

$3,075,167
10,392,794

$15,322,205

$12,551,916

$13,467,961

$11,289,534

$140,541,209 $11S,425,S93 $102,905,959
General M erchandise_______ 499,701,235 432,721,620 400,287,545

$87,668,691
344,950,718

Total . .
.
____
Since Jan u a ry 1

Total 37 w eeks................... $640,242,504 $551,147,513 $503,193,504 $432,625,409

The foll< wing is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Sept. 21 and from Jan. 1 to date.
EX PO RT S FROM NEW Y O R K F O R THE W E E K .

For the week................... ........
Previously reported
. .
Total 37 weeks

1907.

1906.

1905.

1904.

$13,093,264
439,025,001

$11,209,981
439,960,464

$13,410,106
374,876.820

$10,244,734
342,764.080

................. $452,118,805 $451,103,445|$388,286,926 $353,OOS.814

The following table shows the exports and imports <f
specie at the port of New York for the week ending Sept. 21
and since Jan. 1 1907, and for the corresponding periods m
1906 and 1905:
E X P O R T S A N D IM P O R T S O F S P E C IE AT N E W Y O R K .
Exports.
Gold.

a Total United States Deposits Included, $30,525,200.

Week.

Reports of Non-Member B anks.— The following is the
statement of condition of the non-member banks for the
week ending Sept. 21, based on average daily results.

Banks

C api
tal.

Sur
plus.

Loans
and
Invest
ments.

N. V. C ity .
Boroughs o]
M a n .& B fx .
S
$
$
100,0
183;6 1,000,4
W ash. Hgts _
C e n tu ry .___
149,5 1,151,5
200,0
Chelsea Exch
115,6 1,322,9
100,0
C o lo n ia l____
100,0
454,3 4,004,5
476,0 5,091,0
C o lu m b ia___
300,0
Consol. Nat . 1,000,0 1,114,7 4,978,3
F id e lit y ____
803,2
200,0
149,5
H am ilton . .
200,0
288,7 5,000,1
Jefferson--680,4 4,054,0
500,0
250,0
Mt. Morris
235,3 2 123 2
200,0
M u tu a l.........
297,1 3 [023,5
300,0
19th W a r d ..
480,3 3,872,4
100,0
Plaaa ...........
372,6 3,778,0
200,0
12th W ard.
230,5 2,450,0
100,0
23rd W a r d ..
182,7 1,072,4
750,0
912,4 9,220,6
Union Exch.
100,0
400,3 3,456,3
Yorkvllle . . .
500,0
625,5 4,802,0
Coal * I . Nat
200,0
211,8 1,341,3
New NethTd
128,0
200,0
825,2
B att.P k .N at.
Borova h oj
Brookli/n
179,4 3,011,7
B o r o u g h __
200,0
416,6 2,574,8
B o a d w a y ._
150,0
B ro o k ly n __
112,2 2,010,0
300,0
MTrs.’ Nat . .
739,5 4,009,5
252,0
Mechanics’ . . 1,000,0
897,3 11,566,2
Nassau Nat .
750,0
928,5 5,934,0
N at. C ity ___
300,0
621,6 3,194,0
North S id e ..
100,0
218,2 1,743,5
Jersey City.
First, N a t . . .
400,0 1,179,2 4,382,2
H u d .Co. N at.
250,0
721,1 2,835,1
Third N a t . . .
200,0
348,3 1,901,0
H oboken.
First N a t . . .
220,0
596,7 2,291,7
Second N a t.
125,0
202,4 1,811,3

Legal
Tender
and
Specie.
Bank
Notes.

.

>

Clear
ing
Agent.

Other I Net
Banks, Deposits.
dkc.

S
S
14,2
47,8
7,6
86,6
98,3
44,9
111,6
415,7
325,0
274,0
518,7
40.8
9,6
52,7
287.4
235,2
10,1
205,8
97,4
114,1
17,3
236,8
44,4j 375,8
325,0
303,0
40,0
222,0
162,0
61,6
548,6; 225,0
52,4
388,9
692,0 • 220,0
6,0
76,0
40,1
117,8

%
71,0
46,1
103,4
582,7
298,0
200,2
59,7
25? ,0
132,4
377,1
247,5
283,0
55,0
263,0
133,3
630,2
190,7
641,0
122,6
55,6

57,2
13,7
126,0
265,4
251,0
232,0
129,0
24,4

283,8
212,8
81,0
155,3
667,0
466,0
352,0
126,6

107,7 4,119,8
172,2
105,9 2,744,5
241,6
304,9
109,8 2,393,0
132,7 4,588,5
527,2
155,4 12,211,8
893,0
5,569,0
934,0
483,0 " 103,0 3,681,0
53,4
233,1 1,929,2

183,7
84,6
53,4

282 9
59',2
103,0

128,7
63,6

23,9
58,2

977,5
206,7
376,2
.
136.8
84,0

$
00,7
118,8
246,0
100,6
" 818,9
104,2
58,8
1,3
840,0
______
77,5
...........
84,8
50,0
10,0
______

$
854,9
1,054,6
1,604.1
4,875,3
5,954,0
3,928,1
700,8
6,970,0
3,724,4
2,623,4
3,031,5
4,896,0
3,958,0
2.857,0
1,946,4
7,783,5
4,040,3
5,055,0
1,202,8
673,0

358,6
191,1
26,2

5,007,9
2,225,9
2,030,2

68,3
94,8

1,907,8
1,693,9

Tot. Sept. 21 9,817,0 14849,8 113707,8i 5,067,7 6,575,5 10.135.6 4,324,8 117901,6
Tot. Sept. 14 9,847,0 14849,8 113999,2; 5.090.3 6,830,9 11,162,0 4,628,9 119170,7
Tot. Sept . 7 9,847,0 14849,8j 112947,8 4,893,9 6,466,2' 11.407,1 4,444,2 118046,7




Imports.

Since J a n . l

Week.

$12,877,335
15,361,499
1,015,083
880,155
11,500
2,180,443
1,500,000

$53,705
151

Since J a n . l

$2,594,11#:
717,238
1,155,297
755,375
3,000
4,137
357,456
2,007,57#
09,527
261,492
3,200

$34,432,015
$133,840 $7,848,446
5,886,574 13,891,378 67,585,653
6,884,618
41,308
38,098,587

Total 1907______________ _____ _
Total 1906 .................................
Total 1905_______________________

Deposit with

$2,067JB6I
9,221.673

$2,939,242
9,612,674

Total ........... 129,400,0 104,098,3 1097,579,0 202,390,5 70,264,5 1057,023,o! 25.7
.
a

We omit two ciphers (00) in alt cases.

190*.

1905.

$3,878,250
11,443,955

D ry Goods______
______ .
General Merchandise ______

Silver.
Great B r it a in ___________ _________ _ $1,103,327 $32,909,881
France ............................., ..................
3,274,000
207,000
10,278
283,936
7,665
14,786

070

$87,999
2,270
158
134,23S
1.257,753
704,591
22,154

Total 1907................................... . $1,370,327 $36,500,546
840,769 38,371,386
Total 1900_______________________
869,299 25,507,140
Total 1 9 0 5 ....................................

$104,195
15.333
54,041

$2,209,163
1,687,730
3,076,135

$85,480
2,028
16,017

Of the above imports for the week in 1907, ----- were
American gold coin and 563 American silver coin. C f
the exports during the same t i m e ----- were American
gold coin and ______ were American silver coin.

and ffiuanctal.
W e shall be pleased to m a il in ve sto rs copies of the n in t h
e d itio n of o u r 10-pace c ircu lar d e sc rib in e 65 Short-Term Notes
a n d C o lla te ra l T ru s t B o n d s w ith a p p ro x im a te m a rk e t prices.

Spencer Trask & Co*
W IL L IA M

M

A N D P I N E S T S ..

o f f a t

-

&

-

W

NEW

YORK

h i t e

M em be rs New Y o rk S to c k E x c h a n g e .
5 NASSAU ST REET .
DEALERS

IN

H A N O V E R B A N K B U IL D IN G
IN V E S T M E N T

C o m m is s io n O rders E x ecu

S E C U R IT IE S .

d fo r C ash O n ly .

770

THE CHRONICLE.

[V o l .

lxxxt

.

ABSTRACT FROM REPORTS OF THE NATIONAL BANKS MADE TO THE COMPTROLLER AUG. 22, 1S07.
No.
of
Banks.
Maine ________
New Hampshire
V erm o n t__________________________- .
Massachusetts_____________________
Boston _________________________
Rhode Is la n d _____________________
Connecticut
New England States____

.

7,400,614
3,919,650
] .948,100
1,073,625
4,007.110
350,000
1,761,500
2.063,319
1,379,800
1,703,366
3,060,000
11,647,156
1,080.000
1,400,000
135,000
1,370,000
552,000
364,700
1,259,750
3,462.086
2,247.167
3.756.541

1,312 130,921.520

85
2

36
72
27
3C
7
488

5

7
2
8
7
4
37
132
9
78

334
11
7
f)
210
7
381
14
88
5
121
6
241

6

6
294
3
4
3
96
0
3
8

S
159,29.
134.20J
■.)S,35<
C .8,521
568,00;
87,337
316,OOi

S
271,30!
337.501
145.66(
1.817,460
4 ,438,39'
192,86
765.68C

511,682
468.187
347.716
3,116,707
4,255,066
53S.962
1,411,720

9,149,387

436,744,905

11.233,554

10,303.510

2,031,721

7,968,878

10,650,040

4,680,380
34,147,42(
2 90 ,OS]
358,08!
1 ,055,03(
5,530,78?
4,819,300
3,130,000
99,990
826.000
3,899,72c
306,000
5,475.085

201,763,888
712,121,05!
20,571,330
12,686,32!
110,401,230
293,546,055
177,299,13!
147,737,50.';
8,987,774
22,004,573
56,582,1*3
1,116,633
21,042,380

4,093,961
57,568,371
590,01222,710
1 ,334,15(
8,269,030
8,026,486
6,166.837
124,636
415,321
597.54;
12,SOS
36.138

3,454,290
93,976,160
1,360,00(
5-14.600
1.693,01(
4,383,250
7,520,480
4,784,490
77,7-10
333,380
1.847.030
51,600
1,913,610

1,1
,90; 2.971.50J
866,058 2 0.S10.4K
50,34]
80,000
104,792
6S9.141
601,90b 2,473,034
1,714,869 3,750,610
767,730 6.153,197
732.037 5 .0 0 6 ,!iOi
72.921
260.069
359,694
143,274 2,427,544
6,600
34,610
79,204
718,641

6.003.911
45.565,125
1,281.459
076.748
3,44 s, 798
7,733,593
3,73. ,311
4,820,493
247.972
70S,110
681,184
28,800
363,237

87.458.712 121,940,540

6,424.185 l45.730.172

75.293,741

65,348,051
33,475,326
25,525,921
15,481,250
38,027,200
2,526,170
19.877,708
28,984,659
11.382,996
15,332,422
26,604,089
105,760,497
13,783,817
9,891,316
2,112,515
13,557,568
8,017,271
3.980,452
12.971,552
37.423,034
21,595,302
45,301,399

57,441,484

478,882.272! 24,355,669

13,577,436
6,340,000
3,800,000
1,137,000
6.543,748
2,360,000
12,287,631
17,057,000
4,288,426
1.470,000
3.357.227
2.560,000
3,641,027
4,352,083
2,265,000
5.373,920
240,000
400,000
130,000
1,927,600
2,950,000
410,000
11,431,158

166,061,468 " 3,851,919
38.390,926
1,886.906
84,952,951
628,400
17.610,350
500,546
93,582,636
3,577,917
19,019,545
1,665.944
159,308,594
5.959,235
142,221,906
3,013,898
70,154,551
2.07S.233
19,391,445
657,044
74,438,018
1,026,339
34,070,065
1,039,944
62,544,036
1,075,000
28,549.817
397,321
21,707,545
1,320,031
85,385,149
2,873, !08
125.000
2,223,751
3,362,037
526.784
1,902,223
65,'<78
25,957,437
697,600
32,932,638
823,425
221,090
5,332,344
64,810,556
1,993,809

759,710
845,062

615,350
430,610
100.860
41,020
264,980
22.000
248,000
518,930
115.690
144,410
032,000
1,383.040
3S0.2S0
90,000
176.000
617,820
776,200
198,500
18K.660
353,810
395,000
818,860

392,821
189,262
168,010
237,000
496,114
32,300
381.316
413,509
180,697
242,126
78.207
1,572,805
105,359
217,179
30,849
193,063
133,311
130,155
155,868
269,515
137.911
358.007

156.131
222.745
17.704
160,>37
240.075
85,333
4S8.554

2,264,191
769.074
488.426
357,067
1.023.346
16,559
066.620
S60.023
310,054
-112,461
535.188
2.794,880
751,500
657,500
173,840
600.033
575,980
167,000
289,055
063.149
1,059.632
1.241,231

557.050,515

10,529,591

8,818,020

6.115,483

5,084.437

16.681.709

153,835,173
55.193,66S
54.20X.525
17,187,557
79.486.081
25,306,344
137,248,908
231,223,415
63,187,791
23,772,881
59,696,059
33.133,342
58,190,301
37,839,300
22,418.522
S7.3 71.230
5.3-53.729
7,580,969
2,224,233
22,975.024
45,644.361
9,654.756
117.867,941

57l88,462
389.338
2.423,682
626,182
2,533,030
851,290
3,626,203
4,420,065
1,944.833
1,074,677
1,892,019
1.370.048
1,974,238
1,282,057
1.025,212
2.074.752
139.685
219,Sfi3
154,470
664,321
1,996,065
271,855
3,271.905

1,700,650
2,087,920
1,866,580
625,270
1.367.180
1,657,220
2.038.850
27,337.450
802.680
312,990
1,013,640
912,500
690,780
1,383,620
810,420
911,340
218,800
131,600
20,000
188,710
2,328,610
121,980
10.326,430

946,213 1,072.788
112,826
876.340
806,521
601.674
298.630
115,389
626,445 1,087.405
182,896
326,052
922,424 1,170.229
513.574 18,328,385
533.773
380,255
47.008
105,499
370,882
443,008
171,212 1,198,810
375,103
477,602
231,348
69,510
176,743
256,863
599.104
738,977
85,573
42,975
51,308
98,958
10. >25
35,000
229.280
210,888
160,617 2.251,030
49.946
74,095
204,140 6,867,635

4.578,610
8,263.143
1,499.576
1.213,401
2,181,332
1,01;, .500
3,664,077
15,53 s ^>29
1,593.478
1,642,797
1.168,535
1.486.572
965.061
1,584.174
1,361.282
1.950,688
118,000
306,811
132,048
69:;,365
1,135,360
760,900
6,151,696

36,012.577 1.350.690.110

1,066,395
938,618
451.644
143,842
298.000
20.000
226,961
127,907
134,008
483,719
2,014,525
506,560
167,948
18,665
410,000
270,098
165,044

58.855.310

923,320
546,458
2.986.146
240,000
1,000,000
2,069,745
625,000
, 326,000
1,331.650
715,000
1,990,200
1,740,000
370,000
495.800
1.002,347
1.862.761

20,651,971
20.229.479
48,131,807
4,333,830
21,476,853
57,365,587
3,766,263
3,845.924
27.983,587
11.138,189
37,673,776
39.292,390!
6.068,242
11.218.756
22,637.941
19.177.864

380,000
545.009
905,000
149,981
1,177,153
1.860,807
50,000
250,000
671.522
673,632
574,020
1,311,126
139,968
340,874
1,077.995
298.156

20.912.832
18,227.387
44,740,290
6,40)9,160
25,813.354
48,239.662
7,454.303
4.436,516
21,075.205
9.648.297
24.364.011
22.658,636
3.539,074
9,181,169
18,177,203
20,929,829

434,370
469.050
1.159,963
206.940
1,431,855
1,453,847
349,270
257,945
1,102,151
390.785
1,193,167
3,126,690
553.185
303,213
402.775
357,683

250,950
369,320
316.160
4,500
1.080.800
624,650
45.980
127,500
529,680
105.980
436,430
1,823,490
264.850
167,630
438,360
342.970

1.121

60,134.351

19,124,427

354.992,459

10.405,243

305,806,928

13,192.889

6,929.250

41
4
52
3
109
10
9
34
14
4
8
14
2

4.797,750
1,750,000
2,616,000
1.250.000
10,446,000
5 ,5oO,000
13,800,000
1,775,000
930,000
1,200,000
1,607,000
755,000
100,000

2.635,950
1.200,000
902,875
1.450,000
3,963,760
2,255,000
8,930,000
888,300
303,500
511,300
328,600
399,000
47.100

40,972.120
21.201,077
18,553,217
16.169,569
57,891,934
31,206,065
40,094,306
11,781,550
5,020,851
9,523,401
5,113.711
7,407.681
1,014.584

1,335,169
1,781.374
422,381
1,349,666
2,310,003
994,971
6,359,955
531,504
100,241
237.990
250,000
249,084
151.437

33,327,407
17,216,594
11,182,948
13,495.235
45,982.262
32,210,437
54,883,305
9,526,142
4.525.945
7,956,94!
4,669.609
4,702,342
464.115

2.421,581
3,850,585
1,341,795
4.876,750
4,251,558
6,488,027
7,522,398
538,415
297.058
1,303,337
311,935
345,942
74.270

471,220
67,970
98.180
81.120
236.010
97.500
1,707.530
127.700
19,110
150,920
14,380
134.520
6.020

304

46.577,650

23.815,385

265,950,066

16,074.675

240.143,282

33,623,651

3,212.180

4
1

610,000
100,000

107.000
10,000

895,927
247.131

421.817

1.325.239
62.914

245,825
20.085

460
20,000

5

710.000

117.000

1,143,061

421.817

1,388,153

265,910

20.460

Island possessions .

203,910.888

I St. Paul.__________________________________________________

38,416.052

4,395,000
3.287,500
8,811.770
650.000
2.800.000
10.531,540
1.000.000
500,000
3,519.500
1.585,000
5,423.-00
3,200,000
500,000
1.918,041
4,885.000
7.127,500

Pacific States.

United States.

S
415.861
123,870
96.550
915,560
7,765,64(
281,170
704,860

121
87
188
3
5
196
3
4
38
29
94
7
3
39
136
168

Hawaii (May 20 1907)
Porto Rico.

585.675
430.917
122,343
85.489
275,193
47.778
167,640
275.907
61,835
151.664
620,877
702,842
142,095
43,103

6,988,214 37,047.824

54.007,535

191.641
178.324
294,295
47.227
288.721
494,441
31,043
37,111
133.728
77,315
227,714
129,660
65.131
88,113
326,100
277.401

118.11
167.576
215.262
2,000
956.178
467,752
11,560
56,147
62.S25
47,131
207,104
421.418
108,581
92,507
184.218
207.964

473,240
4.39,867
1,168.849
546,236
1,712.150
1.389.193
899,365
204.000
561.705
178.743
1.050,868
2,000.900
245,445
240.401
667,694
394.874

2.887,965

3,327.231

12,173,530

181,435
30,990
53,309
10,542
73,076
48,417
8,056
37.863
5.827
10.370
27,072
14,752
1,555

235.458
142,430
70,128
32.931
254.813
345.215
90,284
149,449
23.310
137,105
56.047
147,659
120

2,159,752

503.264

1.693.947

31,327
1.061

219
389

280
15.000

32,388

60S

15.28C

254,944
80,455
134,668
89,223
439,160]
243.283
601.006
70,220
29,130
76,422
42,396
91.962
6,883

S
Loans.
Loan.1?. disc.,&c.
dlsc.,&c. 168
U. S. bonds___ 12
12
Stocks, bds.,Ac
7
Real estate, <%c.
ft
5
Due from b ’nks 45
Clear. H. exch. V>
12
1
Nat. bk notes.
G o ld .................
............
13
Silver_________
5
ft
Legal tenders. .
4
O th resourcesresources .
2

2

22

S $
21 13
2 1
5 4

S
S
177 148
20 21
31 25
5 16
12 2 69 27
i 13 4
1
? i 16
i
7
1 i
4
5
2
1
1

11

6

C a p ita l_______ ~26
26
IS
S urplus_______
18
q
nniv’d proflts
9
s CUirculation____
9
:s ■
■Due
Due to ban
banks-.
k s.. 70
Due depositors. 137
Oth. liabilities.
5
ft
3

~ l115
Ti 2
110
110 •}

2 22
W 3?

29

1
5
30
51 1 1 14 16
465 2ft 5 118 66
567 13 14 149 116
4
4
27 1 --

6

6

3
3
1

?
1

1
1
1

— --

13
7 4
?
7 4
2ft 4
44 27
4 3

1

__

1

2

4 44 22

1

1 1
1 1
1 1
3

4 44 22

1
1
1

* S £
24 33 38
1 ft 3
2 4 1
1 1
7 10 12
1 ?

22

?

2

1 ? ?
1
•> 1
1 1 1

St $ $
17 25 231
3 7 14
3 4 IK
1 1
5 12 48
11
1
? 4 1 9 3*>
1 1
1 19
3 1 1 1 16
2
1

•>

'/

5

V

1
4
11
17
2

13 f) 4 5 28 5
6 4 1 •> 17 1
1
3 ?
S
8 5
4
1
25 2s 6 18 181 10
40 36 IS 20 145 20
3 -5 3 1 4

?.

10

6
3

S

S
ft 8
3
1
3 1
1
8 2 9
1

1
1

6 4
4
1
4 3 1
11 19 11
35 29 22

•>

1

2

9 13
1

(i
2

1
1
I
4

2 -- --- --

4 21 40142 100 87 32 54 392 38 59 62 42
I

9 13

14
7
6
3

4
o
1
2

1

31.-

i

j

4 202 94 17

10

--

1

10 3
11
5 9
1 1? 2
1 83 ;,o
1 (57 34
2
-4 202 94

1

1 ..

2

1
| 1

1714

1 3
1

ll

1
1

1 1 2 1
9 4 18 7
ft 4
4
1 -- . . . .

- 10 . 7 ,1 .

3 <€5 O

S $
14 17
3 3
2
4 2

S * S
55
<:> 26
ftu 32
19 7 5
7 3 15
2 1
3 5 7 16 8 17
-* 11 11 11 11 1
9 7
4 4
7 6
1
1
" -?2
1 -1
-$
s
4
1
1

..

s

j

I Total
| United States. ]j

I
a Cj
S!

J Total Reserve
| Cities.

I I-os Angeles.

a
2- =0 to

■u

if

I Den’r -Pueblo
I Salt Lake City

a

j San Francisco.

I Portland.
I Seattle.
■51

?
r
ti

| Total
|Other Cities,

S S $ $ t $ is
2 118 46 10 6 26 V
1 17 3 1 1 3 1
ll 1
5 7
2 1
1 ..
) 9 3
1 28 26 4 ■
? V
1

I Wichita.

I Omaha.
I Kan. City, A', j

1Lincoln.

I S t. Jo seph.

I Kanstis City.

I Dubuque.

|St. Louis.

I Cedar Rapids. j

I Des Moines.

I
I M in n eapolis

I Miluaukee.

I Indianapolis.

j Chicago.

|Cincinnati.

I Columbus.

$
54
5
4
1
14
1

4 21 40 42 100 87 32 54 392 38 59 62 42

6 3 1 3 4
3 1
1
1
1
2 3
1 3 1
9 6 1 2 (1
1 19 1 1 2 12 l!l
1 3 -- -- 1 2

1

S *
22 55
K 111
2 9
3
7 14
1

1Cleveland.

1Dal. A F t. TV.

1Galveston.

i Wacoti: S .A M .

|Houston.

I New Orleans.

2

T o ta ls________ 274 1.365
1,365 44 25 344 265 102 47




%

S * * S S $ S
12 24
57 22 3 26 14
2 3
12 1 1 1 5 1
2
1
3 3
1 1
1 1
15
5 4 1 3 6
?
1

T o ta ls________ 274 1,365 44 26 344 265 1H2 47

s

I Savannah.

I Washington.

J Baltimore.

$
%
713
86
135
24
55
119
2
152
22
45
12

J Philadelphia.

1

I Pittsburgh.

New York.

£

0

N

I Albany.___
|Brooklyn.__

|Boston.

6.544 896,451,314 54S.303.602 4.319,035,403 161.03S.164 4,678.583.969 194.720.359 210,079.270 26,639.708 99,668.414 170.51 5 .7W

s

V

33,431,800
13,300,000
9,350,000
3,550,000
18,215.000
5.100,000
20.921,250
27,650,000
9,213,915
4,750,000
9,805,000
5,750,000
10,541,000
5,700,000
4,100.000
16,935.000
400,000
800,000
600,000
5,655,000
3,300,000
900,000
19.100,000

Legal
Tender
Nous.

S
1,082,241
455,840
383,521
2,353,41c
5,048,98?
311,340
1,598.201

64,618,796 1,786,760,076

57,886,904
34,721,374
19,042,237
11,082,876
25,895,879
915,784
19,365.012
26,127,770
9.S17.748
13,933,685
17,134,426
98,366,331
11,237,379
7,802,202
1.644,777
10,516,349
8,877,513
3,358,357
11,015,537
33,655,256
14,731,092
41,753.784

Silver
Treasury
Certificates

S
32,439,1716.873.10.'15,197,560
122,544,88.167., SO.92;
23,919,50(
57,989,745

1Detroit.__________________________________________

Western States.

*?
650,060
650,060
1,085,641
1,085,64:
698,921
698,926
2,452,000
2,452,000
2,724,808
2,724,808
718,093
718,091
818,859
818,859

S
32,411.970
17,287,021
14,553,99<
109,723,422
134,617,68:
18,506,04(
53,328,479

Gold
Treasury
Certi/icates

4,958,875
1,291.075
1,254,355
588,557
1,635,028
248,685
1,099,346
793,668
599.958
350,000
1,886,098
1,514,508
268.580
100,000
98.792
205,000
360.785
50,000
205.780
2,052.874
2,768,383
2,025,324

1.869 235,067.965 107.899,256

Washington
Seattle______ _________
Oregon ________________
Portland
Cali lorn ia
Los Angeles_______________
San Francisco.
Idaho __________
U t a h ...................
Salt Lake City.
N e v a d a ___________________________
A rizo n a ______ _____ _
Alaska (May 20 1907)

3
3
«J

380,428,611
239,035,692
532,634,607
12,423,69<
14,095,415
127,543,70s
351,446,922
144,196,847
112.574,69f
9,222.130
27,656,304
39,895,057
1,070,804
21,932,173

12,175,800
7,733,500
5,620,000
3,485,000
8,209,000
750,000
3,995.000
7.975,000
3,300,000
2,964.920
6,025.000
29,329.900
2.400,000
1,925,000
425,000
2.500,000
2,300,000
800,000
3,690,000
11,113,400
4.945.000
9,260,000

North D akota.
South D akota.
Nebraska
Lincoln
Omaha
Kansas________
Kansa*-' City .
W ich ita .
M ontana _
W yoming
Colorado .
Denver.
Pueblo.
New Mexico _________________
O k lah o m a___________________
Indian Territory.

1
o
ii

53,645,456

60
26

Southern

Totals for
Reserve Cities, <kc.
In M illions.

490 106,368,800

3ft«| 40,827,('.00 23,265,032
38 114,580,00( 109,768,050
2,100,000
2,200,00(
4
1,602,000
2.350,00(
172 19.708,23( 17,912,825
667 61,028,998 53,771,605
3( 22,305,000 32,135,001
30 29,100,000 28,855,000
24
2,273,085
1,809,500
80
5,002,515
3,266,578
18 12,740,700
7,105,00(
252,000
252 ,OOC
1J
5,150,000
3,570,000

100

Ohio _____________________________
C incinnati_________
C leveland_________
ColU’Phuu .
Indiana _______
Inriianapolis
Illin ois___
Chicago
Michigan .
Detroit.
Wisconsin .
Milwaukee
M innesota____________
Minneapolis_____________________
St. P aul.
Iow a___________
Cedar Rapids
Oes Moines.
Dubuque
M is s o u ri______
Kansas City .
St. Joseph____
St. Louis,
Middle Western States.

$
3.379,955
2,318.200
1,701.- •
15.158.
17,986,001
3,538,038
9,563,300

1,443 316,671,02S 286,260.594 1,633,728,046

V irginia_________
West Virginu ..
North Carolina__________
South Carolina__________
Georgia
______________
S a v a n n a h _____________
Florida__________________
A la b a m a _______________
Mississippi
Louisiana
_____________ ____
J
New Orleans___ ___ I ______
Texas ________________________
B a lia s _____________________
u Fort Worth
G alveston________
H o u s to n __________
San Anton.’o____________________
W a c o _____________________
Arkansas____________________
K e n tu c k y ___________________
L ou isville_________________
Tennessee___________________

Loans.
and
Discounts.

Other.

1LovtsviUe..__________________

Eastern States.

Deposits.

Surplus.

S
9,401,00C
5.210,001
5.685.00C
33.107,50(1
26,050,000
6,700,250
20.155,050

it
181
22
22
80

New Y o rk ..
New York City.
A lb a n y ._______
B r o o k ly n _____
New .lerppy______
l'[*nn«vivanii____
Philadelphia .
Pittsburgh________
Pels ware ___________
Maryland____________
B altim ore________
District of Columbia.
Washington City.

Capital.

S

S
y
S
8 2.308 2.401 4,709
2
303
440
743
11 315 385 700
80
3
1,072
523
549

101

-1
1

83
109
27

J3
61
35

31
405
126
170
62

110

9
0 31 34 110 ;60 74 16 4.252 4.138 8,390
1

1 2 14
14| 6
2
o| 9
1
1 1
9
9
? v
2
ft
1 1 12
1? 5
4 10 6 ?6
26 1?
12
99
46 32
4 17 22
2
1
1
1
—

898
524
4
■
1 1 372
258
548
?2 1 290
100
1
187
1
552
351
3 1
206 1.595
17 3 1.389
46 10 1,841 2,639 1.480
60
132
1

201

—

9i31 34 110 j60 74 16 4.252|4.138 8.390
1

15

S e p t.

28 1907.]

THE CHRONICLE.

$1,000 discount. Chicago, 35c. per $1,000 discount. St.
Louis, 50c. per $1,000 discount. San Francisco, 50c. per
$ 1,000 prem ium .

0 5 it 2 j e t t e .

H a n h e rs?

W all Street, Friday Night, Sept. 27 1907.
The Money Market and Financial Situation.— Business at
the Stock Exchange has been exceptionally lim ited in volume
throughout the week, especially for the time of year, and the
trend of prices has been almost continuously towards a lower
level. The downward movement has not been precipitous,
however, and net declines are generally not as large as they
have frequenty been of late.
Except for the announcement of a proposed new issue of
stock by the New York New Haven & Hartford Company
and more or less exaggerated reports of damage to crops by
frost, nothing of importance has occurred to affect security
values. If the hope of a revival of confidence, or at least of
a better feeling, was cherished in some quarters last week, as
a result of the success attending the New York City bond
offering, it has not been realized, and business at the E x 
change this week has been similar in character to that so
often described during recent months.
The foreign exchange m arket has been easy under a more
liberal supply of bills drawn against shipments of grain and
cotton. The money market has been somewhat irregular,
owing to the approaching m onthly and quarterly settlements,
and perhaps to an increasing flow of currency to the interior.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1 to 6 % . To-day’s rates on call were 4@ 6% . Prime
commercial paper quoted at 7 % for endorsements and 7 %
for best single names.
The Bank of E ngland’s weekly statement on Thursday
showed a decrease in bullion of £365.903 and the percentage
of reserve to liabilities was 51.30, against 51.67 last week.
The discount rate remains at 4 J ^ % , as fixed August 15.
The Bank of France shows a decrease of 3,550,000 francs in
gold and 2,875,000 francs in silver.
The New York City Clearing-House banks in their state
m ent of Sept. 21 showed an increase of $4,529,200 in the re
serve held and a surplus over the required reserve of $8,405,100 , against $6,918,700 the previous week.
Differences
from
previous week.

1907.
Sept 21.
C a p ita l_____________
Surplus____________
Loans and discounts
Circulation...............
Net d e p o s its .._____
S p e c ie .....................
Legal tenders______

$
129.400.000
164,098,300
1,097,579,000
50,658,400
*1,057,023,600
202,396,500
70,264,500

Inc. 8,606,800
9,200
In c.
Inc. 12,171,200
In c. 3.486.600
Inc. 1.042.600

1906.
Sept. 22.

1905.
Sept. 23.

$
$
118,150,000, 115,972,700
154,235,000! 140,160,800
1,043,882,600 1,076,440,600
45,109,500
53,712,300
1,023,251,500 1,083,195,800
190,536,500 200,454,400
76,592,300
75,579,600

Reserve held______
25% of deposits____

272.661.000 In c .
264,255,900 Inc.

4,529,200
3,042,800

267,128,800
255,812,875

276,034.000
270,798,950

Surplus reserve..

8,405,100 In c.

1,486,400

11,315,925

5,235,050

* $30,525,200 United States deposits Included, against $30,072,600 last week and
$25,547,400 the corresponding week of 1906. W ith these United States deposits
eliminated, the surplus reserva would be $16,036,400 on Sept. 21 and $14,436,850
ontSept. 14.
Note.— Keturns of separate banks appear on preceding page.

Foreign Exchange.— The market was strong early in the
week, responding to a demand for remittance, chiefly for
maturities of finance bills, b u t after Wednesday a pressure
of cotton and grain drafts caused a decline and the tone was
weak thereafter.
To-day’s (Friday’s) nom inal rates for sterling exchange
were 4 83 for sixty day and 4 863^@4 87 for sight. To
day’s (Friday’s) actual rates for sterling exchange were 4 82
@4 8210 for long, 4 8535@4 8545 for short and 4 8610@
4 8620 for cables. Commercial on banks 4 8150@4 8160
and documents for paym ent 4 81@4 82. Cotton for pay
m ent 4 81@4 81% , cotton for acceptance 4 8150@4 8160
and grain for payment 4 81% @ 4 82.
To-day’s (Friday’s) actual rates for Paris banker’s francs
were 5 20% a@ 5 20% for long and 5 173^a@5 1 7 3 f ° r
short. Germany- bankers’ marks were 94 ^ @ 9 4 3-16 for
long and 94% d@ 94% for short. Amsterdam bankers’
guilders were 40 22@40 24 for short.
Exchange at Paris on London to-day, 25f. 133^c.; week’s
range, 25f. 14c. high and 25f. 13}^c. low.
The week’s range for exchange rates follows:
-LongSterling, ActualH ig h ______ 4 8250
@4 8275
L o w ______ 4 82
@4 8210
P aris Bankers' Francs —
H igh ...........5 20%
@5 20a
L o w ----- 5 20H a
@ 5 20%
Germany Bankers' Marks —
H ig h .......... 94 3-16 @94 %
L o w ........... 94%
@94 3-16
Amsterdam Bankers’ Guilders—
H ig h ............................ @ .........
L o w _____ _ ______
@ _____
Less:
Pius:

a 1-16 of 1 % .
k 1-16 of 1 % .

-Cables14 8595
14 85X5

?4 86
?4 8545

|5 17%
|5 i7 % a

)5 16%/l
)5 n y i d

94 15-16
94 %t*

>95
>94 %

40 3-16
40 22

> 40 ^
?40 24

d 1-32 of 1 % .
x 1-32 of 1% .

14 8650
i 4 8610

>4 8655
>4 8620

h 3-32 of 1 % .
V 3-32 of 1 % .

The following were the rates for domestic exchange on New
York at the undermentioned cities to-day: Savannah, b uy 
ing, 50c. per $1,000 discount; selling, 75c. per $1,000 pre
m iu m . Charleston, selling, $1 per $1,000 prem ium. New
Orleans, bank, 75c. per $ 1,000 discount; commercial, $1 per




771

State and Railroad Bonds.— Sales of State bonds at the
Board are lim ited to $15,000 Tennessee settlement 3s at 92.
The m arket for railway bonds continues to show the effect
of issues lately introduced. Not only is the volume of trans
actions enlarged b u t an advance of over a point in New York
City 4J^s (when issued) had stim ulating effect upon prices
generally, so that of a list of 20prominently active issues, 13
are higher and, of course, 7 are lower.
Am ong the latter are Interboro-Metropolitan 4)^s and
U nited States Steel 5s, which, in sym pathy with the shares,
are 2]/^ and 1 point lower respectively. Am ong the strong
features Union Pacific 1st 4s, Northern Pacific, Rock Island,
Burlington & Quincy,. Atchison and Pennsylvania issues
have been more or less conspicuous.
United States Bonds.— Sales of Government bonds at the
Board include $3,000 4s, reg., 1925, at 125*4 to 126% , and
$1,000 3s, coup., 1908-18, at 102 % . The following are the
daily closing quotations; for yearly range see third page
following.
; Interest

1 Periods

2s,
2s,
3s,
3s,
3s,
4s,
4s,
2s,

1930 . . . ______ registered] Q— Jan
1930__
1908-18- ___..registered Q— Feb
1908-18- ________ coupon |Q— Feb
1908-18- ___small coupon :Q—-Feb
1925
______ reglsteredi Q — Feb
.coupon Q — Feb
1925-.- ______
1936-Panama Canal regia:Q — Nov
1

Sept.
21

Sept.
23

Sept.
24

Sept.
25

Sept.
26

Sept.
27

*105M
*106
*102
*102
*101%
*125%
*12534
*105

*105%
*106
*102
*102
*101%
*125%
*12534
*105

*105%
*106
*102
*102
*101%
126%
*125%
*105

*105?4
*106
*102%
*102%
*101%
*125%
*125%
*105

*105%
*106
*102}-^
102%
*101%
12534
*125%
*105

*105%
*106
*102%
*10234
*101%
*125
*125
*105

* This is the price bid at the morning board; no sale was made.

Railroad and Miscellaneous Stocks.— The stock market
has been exceptionally dull, the transactions aggregating
barely 200,000 shares on W ednesday and for the entire week
averaging only a little more than 300,000 shares. The
m arket has also been weak, as noted above, and was espec
ially so to-day.
New York New Haven & Hartford was conspicuous among
the exceptional features. I t declined sharply on the an
nouncement of a new stock issue, selling at 140% on Thurs
day, a loss of 1 9 points w ithin a week. Other prominent
stocks have declined from 3 to 6 points, including Union
Pacific, Northern Pacfic, Great Northern, St. Paul, North
W est., Missouri Pacific and Reading.
Industrial issues have generally followed the course of the
railway list, but with net changes lim ited to a narrow range.
The copper stocks have again been weak and are at or near
the lowest figures of the year. The United States Steel
issues have been pressed upon the m arket at steadily de
clining prices. The common closes 2 points and the pre
ferred nearly 3 lower than last week.
For daily volume of business see page 779.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Sept. 27.

Sales I
1or r
Week.l

Range for week.

Range since J a n . 1.

Lowest.

Highest.

100 30 Sept
American Dlst Teleg____
Balaklala C o p p e r______ 3,875j $5HsSept
100, 14 Sept
Bethlehem Steel Corp__
Chic U n Trae trust rects.
300 2% Sept
Detroit Southern tr ree_
100, 3 Sept
G t Northern subscrlpt'n.;
rects, 65% paid ...........: 1,300119 Sept
100 70% Sept
Homestake M ining_____
400| 50% Sept
Knickerbocker I c e _____
Preferred.....................
600; 6634 Sept
M Sept
M S t P & S S M r ig h t s ...! 2 ,000i
2001 $2H Sent
Standard M in ing .............I

25: 30 Sept
26] $6 Sept
26 14 Sept
21
2% Sept
27: 3 Sept

25 20
Julyi 30
21 $5% Sept $11
9
Aug! 20%
26
23
2 ^ Augj 3%
3
Aprilj 5
27

27122 Sept
24 70% Sept
23 51% Sept
23 67 Sept
24
% Sept
25 $2% Sept

21
24
25
24
21
25

Lowest.

\ Highest.
Sept
Ju ly
Jan
May
Jun e

105% Augj 122
Sept
55% May! 85
Feb
40
Jan, 69%
Jan
65
Septi 75
Meh
34 Septi
% Sept
$1.90 Aug $3.70
Ja n

Outside M arket.— The m arket for unlisted securities this
week has reflected the weakness on the Stock Exchange,
trading being on a small scale and the general trend of prices
downward. Standard Oil advanced from 445 to 450 and to 
day broke to 446. American Tobacco gained 5 points to
240 b u t subsequently lost all of the advance. Consolidated
Steamship stock was lower, dropping from 3 to 2% ; the 4%
bonds from 25% s°ld up, at one tim e, to 26% , b u t fell to 24.
Manhattan Transit sold down from 4% to 3 % . Western
Ice was a weak feature, the stock at the opening of the week
m oving up from 30% to 30% , b u t later dropping to 28% .
The close to-day was at 28% . Chicago Subway, after an ad 
vance from 18% to 19, fell to 17%, a further drop to-day
carrying the price to 16%. N. Y . N. H . & H . “ rights”
were traded in for the first tim e, down from 2 % to I 15-16.
Copper stocks were affected by a further reduction in the price
of the m etal. Boston Consolidated Copper sank from 1934
to 16% and closed to-day at 16%. Douglas Copper lost a
point to 7% b u t recovered finally to 8 % . Greene Cananea
moved up, early in the week, from 9 % to 10 , b u t subsequently
declined, reaching 8 % to-day. United Copper common
advanced a point to 49% , sank to 47% , the close to-day be
ing at 48% . Trinity Copper declined from 15 to 133^.
Greene Gold-Silver shares were adversely affected by the
passing of the dividend on the preferred stock. The common,
after an advance from 1 % to l% ,s a n k to 1 , the preferred
losing a point to 5 and recovering finally to 5% . Nipissing
went from 8 to 8 % , then down to 7 and to-day to 6 % , closing
at 6 % .
Outside quotations will be found on page 779.

New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
t w o

S T O C K S — H IG H E S T A N O L O W E S T S A L E P R IC E S .
Saturday
Sept 21

Monday
Sept 23

I Tuesday
| Sept 24

I Wednesday
| Sept 25

Thursday
Sept. 26

Friday
Sept. 27

Sales o/
the
Week
Shares

p a c k s

c T n r if C
N E W Y O R K STOCK
EXCHANGE

Range 1or Year 1907
On basis 01 100-share tots
Lowest

Highest.

R a i lr o a d s
8 I 34 A u g 15
86
86% 19,000 A t c h T o p e k a & S a n t a Fe
87% 88%
87% 88%
8712 88%
86% 87%
87*4 88%
300 -*»■ D o
p r e f ______ _____
89 A u g 13
90
*89% 90
90
*89
89% 89%
89% 89%
91
1,010 A t l a n t i c C o a s t L in e R R - .
*S2~
84*
82
*821" 84%
821" 82» 0 *82
80
83
77 A u g ,15
84%
83
91% 92%
91
91% 92
5,825 T J a lt i m o r e & O h i o ________
91% 91%
87 A u g 17
91% 91%
91%
91% 911.1
_______ - D
Do
p r e f _____________
*83
87
85 J ’n e 19
*83
♦S3
87
*83
87
*83
87
*83
87
87
37% A u g 20
4634 48%
45% 46%
43% 45% 20.999 B r o o k ly n R a p i d T r a n s l t . .
46% 47%
45% 47
46% 47-%
*
_______ B u f f a lo <fc S u s q u e . p r e f ___
80 * ____
80
* .. .
80
83 F e b 16
80 *
80 i * ____
80 *
162
6,200 / C a n a d i a n P a c i f i c _________ 155 M c h 2 3
164% 165
16 4% 165
165
1651 •> 164
164% 165
165
163*4
60 M c h l4
* C anada S o u th e rn
. ..
*6 2
63
*62
*62
*62
63
63
*61
63% *62
63
63
180 *175
400 C e n t r a l o f N e w J e r s e y _____ 165 M c h 2 5
180 *177
180
180
175
175
*177
*175
177
177
3434
3034 A u g 20
3338 34
4,610 C h e s a p e a k e & O h i o ________
34
34% 34% §34% 34%
34% 34-%
34% 34%
. . . ___ C h ic a g o & A l t o n R R ______
9% A u g 14
18
*11
*11
*11
*11
18
18
18
*11
18
*11
18
D o p r e f __________________
48 S e p 16
48-% 48%
2,500
48% 48%
48% 48%
48?! 49
48% 4834
48% 48-%
1,700 C h ic a g o G r e a t W e s t e r n . .
9% M a y27
9%
*91 •»
9%
9%
9%
9%
934
9%
9%
9%
9%
9%
50
64 A u g 19
*61
65
*61
65
D o 4 % d e b e n tu r e s ___
*61
65
*61
65
* f i i " 65
§65
65
D o 5 % p r e f “ A ” ______
500
*40
*40
*40
39
39
37
38
37 S e p 27
45
41
41
44
43
D o 4 % p r e f “ B ” ______
12% A u g 2 6
700
*121, 13U
12%
"
12% 12% *12% 13%
12 % 12% * 1 2 li 13%
% 117% 120% 117 118% 53.550 C h ic a g o M ilw & S t P a u l . . 117 S e p 27
1201 " 121% 119%
121% 1221? 120% 122
D o p r e f..
____________ 145 M c h 2 5
300
146
146
149 *147
147
147
*147
149 *147
148
148 *147
D o c o m c tfs ,25 % p a id 107 M a y 2 /
325
*1091" 112% *110
112
110
109
109
110
108% 108% 107% 107%
13034 131
130
130% 130
130%
4,112
D o p r e f c tfs 25 % p a id 125 A u g 12
*130% 131% 1301" 130% 1301" 131
14434 146
1,900 C h ic a g o & N o r t h W e s t e r n 137% M c h 2 5
144
145
147 *146
1471.1 147% 146
147% 145% 146
D o p r e f _________
. .
197 A u g 19
210 *201
210 *201
*200 210 *201 210 *201 210
*201
210
C h ic S t P M i n n & O m a h a 115 A u g 19
135 *125
128
13G *128
140 *128
135
135 *125
135 *125
D o p r e f ______ _____
10
160 J a n 18
*150 180 *150 180 *150 180 *150 180 §145 145 *150 180
*4
*4
*4
*4
C h ic a g o T e r m ln ’l T r a n s fe r
*4
6%
6%
*4
6%
6%
5 M ch28
6%
6%
D o p r e f .. _ .
_
_
9 M ch27
*15
25
25
*15
25 “ *15
25
*15 25
*15
*15
*2%
2%
C h ic a g o U n io n T r a c t i o n . .
*2%
2% A u g 17
31- *2% ‘ 2-%
*2%
*2%
2%
2%j
* ____
D o p r e f __________________
11% M c h l4
I 4 I4 * ____
15 * ____ 15
300 C le v e C in C h ic & S t L _____
63
63
63
58 “ A u g 12
*6219 64
*61
66
63
63% *61
63% *63
_
*90
D o p r e f __________________
92 S e p 20
*00 “ 102
*90
95
110
100
*90
95
*95
*) 0
92
5,520 C o lo r a d o & S o u t h e r n _____
22% 23
22
22%
23
23% 24
22% 23%
23%
21 M a y 2 7
23% 233;
5234 523,
52% 52%
3,020
Do
1 st p r e f e r r e d ______
51 A u g 20
521" 53%
53
53% 53%
54
5334
53
42% 4234
*42’.» 431."
1,910
Do
2 d p r e f e r r e d ______
40 M a y 2 7
42% 4234
43% 43% 543
43
4334
100% 1603,1 15834 159 *158
158% 158% §159
156
965 T 'v e la w a r e & H u d s o n _____ 147 A u g 2 7
162
159
157
_______ - D e la w a r e L a c k & W e s t ’11 440 A u g 17
485 *474
485
*470
485
485 *470
*-174 485 *470
475 *470
2,950 D e n v e r & R i o G r a n d e ____
20 A u g 15
233 1 24%
23% 2 4% *23
24%
24
24%
24
24%
24
24-%
D o p r e f __________________
64% A u g 17
69
*68
*6 8
701" *67
70
300
69
69
701"
69
69
69
61 J ’n e 15
63
§62% 62% *63
677 D e t r o it U n i t e d ____________
62% 63%
63
63
63
*3312 70
*9
D u l u t h S o S h o r e & A t la n
12"
7% A u g 28
12
*9
*9
10
*9
12
10
*9 “ 12
*9
18% 18% *18
D o p r e f . . _____________
24
io 5
24
*18
24
*1S
17% A u g 2 7
*18
24
*18
24
2038
20
18 A u g 2 4
21% 21%
21
"
21% * 20% 21
3,700
21% *203, 21
Do
1st p r e f _________
600
46%
45% 46%
45% A u g 2 6
49%
46% 46% *46
*17
47% 47% *461" 48
D o 2 d p r e f _________
*36
38
36
36%
1,100
29% A u g 2 6
36% 37
38
38
*37
38
*37
38
E v a n s v ille & T e rre H a u t e
*65
*65
75
75
*65
*6 5
75
*6 5
*65
75
*so
QO
*80
90
D o p r e f ________________
90 A p r 4
*80
*80
90
*so
90
*80
90
90
130 % 13134 129% 13 If 4 129-% 130% 128% 130% 127% 128% 1263.! 128% 29,290 G r e a t N o r t h e r n p r e f ______ 114 A u g 15
T e m p c tfs fo r ore p r o p .
53
5334
53
54
1,900
■44 Aug 15
54% 55-%
55
55
54% 54% *53% 55
G re en B a y & W ,d e b c tf A
Do
d eb c tf B
9
9
21
....
9
7% S e p 18
*8
....
*8
9
....................
T - Ia v a n a E le c t r i c _______
*26
* 2r>"
30 A p r 23
*26
*26
*26
31
•OD o p r e f _____________
72 A p r 1
: : : : : : : : *74% 78
*74% 95*' *74% 95
*74
*74%
95
74% A u g 30
84
84
811" 81% " ’ 206 H o c k i n g V a lle y t r r e c t s . _
Do
p r e f _____
85%
80
80
*80
100
77% S e p 18
*791.4 85% *81
*80
85
85% *80
550 I U ln o is C e n t r a l____________ 128 A u ? 12
140
140
137%
142” 142 142
137
139% *136
*137
144% *137
8 A u "20
10%
9
9
10
9% 10
93*
9%
8% 10
5.390 i- n t e r b o r o - M e t r o p o llt a n .
9% 934
D o p r e f _______________
281» 281" *25% 37
3,850
24
26
26%
25% 26
£01-> A u g 2 0
27
28%
25%
1534 15%
1534 1534
16% 16%
16% 16%
15-% 15*4
900 I o w a C e n t r a l_______________
15 Aug24
15% 15%
D o p r e f ________________
3834 38-%
800
39% 39%
39% 39-% *39
39
391S
38% 38%
30% M c h 2 5
39%
*70
70 J ’n e 11
*70
*70
*70
*70
75
75.
75
75
*70
75
75
............ I Z C F t S <Sc M , t r c ts p r e f
*25% 26% *25_
26_
25% 25%
300 J V a n s a s C i t y S o u t h e r n . .
27
18 M c h l4
27
*261 ■
• 27
*2512 26
D o p r e f _____________
800
55% 55%
55% 55%
45 M c h 2 5
*551" 56
*55% 55*4
55% 55*4 *55% 56
_____ j 1 a k e E r ie & W e s t e r n ___
*12
20
*12
20
20
*12
20
19% M c h lfc
*15
17
*15
20
-Li
D
o
p
r
e
f
____________
60
*40
45
*40
200
45 S e p 19
60 *45
45
*45
45% *40
45
45
*40
50
*40
si
L o n g I s l a n d ______ _ . .
45 J ’ly 23
50
50
*35
50
*35
50
*40
*40
1,270 L o u is v ille & N a s h v i ll e ___
103 A u g 12
109% 109% 109% 109% 108
1093j 10934 109% 109% *108% 110
108%
*120
118
750 V I a n h a t t a n E le v a t e d ___
110 A u g 24
119
119
119
120
120
118
119
117% 118% *115
*35
40
35 A u g 30
45
§40
40
37% 37%
525 l'i - e t r o p o ll t a n S t r e e t _____
*39
45 *
36% 38
16-% 17% *16% 17
2,100 M e x ic a n C e n t r a l __________
15 M c h 14
17
17
17% 17%
17% 17%
17
17%
40
40
37% S e p 3
40
40%
1,800 M in n e a p o lis & S t L o u i s . .
40% 4114
40% 4034
40
40-%
40% 40%
D o p r e f _________ . .
76 % A u g 9
844
79%
79% 791*
79% 79% 79% 79% 79% 79%
79
79% 79%
100
93
90 M a y 2 8
99% 100% §100
99
99
1,275 M in n S t P & S S M a r ie ___
103
98% 98% * ____
122
130
130
119 A u g 2 0
130% 130% *128
130
130 *
500 D o p r e f _______________
131
130% 132
3434 11,700 M o K a n s a s & T e x a s ______
3434 35%
34
36% 36%
35% 36
30% M c h 26
35% 36
35% 35%
D o p r e f - ___________ _
64% 65
600
66% 66%
66% 66%
59 M c b 2 6
*66% 67% *66
68
66% 66%
» 70
1,800 M is s o u r i P a c i f i c ____________
69-% 701 ■
69
70
63 A u g 15
70% 703,9
67% 68%
70
69% *6 8
120
125
120
100 X T a s h C h a t t & S t L o u i s . . 119 M c h 22
*1 2 0
125 *120
125 *120
125 *120
125 *120
483,
1 ’ a t o f M e x , n o n - c u rn p f .
48% *46
*441"
46*4 A u g 13
*46
*46
48*4 *46% 4812 *46
48%
D o 2 d p r e f __________
*16
*151 ■
> 18% *15% 1934 *15% 18% *15% 19% _______
19%
15 A u g 15
106% 106% 1053i 106% 105% 106-% 104% 105% 17,284 N Y C e n t r a l & H u d s o n . _
107
99% A u g 15
10714 106% 107
37
*32
*33
37
34
500 N Y C h ic & S t L o u i s _____
37
37
34%
*31
36% 3634 *33
Do
1st p r e f _________
105
105
*99
105
*99
105
*98
105
*99
*99
105
109 M c h 25
*99
72
D o 2 d p r e f _____________
75
72
*6 4
71
*65
*65
*64
*6 6
71
72
*6 5
70 M c h 26
156*4 142 §150% 140% §142% 140% 14134 4,152 N Y N H a v e n & H a r t f o r d 140% S e p 26
1 57% U 59% §155% 159 §156
*32% 33%
34
34
600 N Y O n t a r i o & W e s t e r n . .
34% 34l8
*33
34
33
33
30% A u g 17
33% 34
72
72
72
72
1.160 N o r f o lk & W e s t e r n _______
72
72
*71% 721"
72% 72%
71% 72
08 A u g 20
*78
*78
84
84
84
*78
84
D o a d ju s tm e n t p r e f ..
*78
84
84
*78
80 M c h l4
132
113 A u g 15
133% 131% 133
130% 132% 130
131% 128% 130% 127% 12834 97.495 N o r t h e r n P a c if ic __________
109
10934 108% 109
Do
s u b s c r lp r e c t s _____
110 % 111
110% 111
5.780
111
10934 111
96% A u g 14
111
84
83% 86
84
2,200 I ) a c l f i c C o a s t C o ............. .. _
> 87% 873;
83
84%
8712 87%
S3 S e p IS
■83% 87! ■
100
100
100
100
100
JDo
1st p r e f _________
*85
*85
*85
100
*88
*85
*85
91
92% 92% *90
98 *85 100
*” 566
D o 2 d p r e f _________
100
91
91% 92
91 S e p 19
_. .
120% 121
119% 120% 119-% 120% 51.093 P e n n s y l v a n i a _____
120% 121% 120% 121% 120l« 121
114 M c h l4
200 P l t t s b C ln C h ic & S t L ___
66% 661.1
67
*66
69
*66
69
*6 6% 69
67
65 A u g 17
*66% 69
95
*85
*85
95
*85
95
91 J ’ne 3
*85
•95 *85
95
*85
95
95*4 97
92% 94% 319,600
96
97%
9S
97%
93% 96%
96% 973.1
85% A u g 14
1st p r e f _______________
82
80
80
82
220 -tV
82
*75
*76
82
*76
*75
82% *76
79 J ’ly 9
SO
2d p re f_____________
80
*77
80
*78
80
*77
79
75
75
100
*75
*77
75 A u g 12
1934 20
*1934 201]
19% 19%
19% 19%
4,320 R o c k I s la n d C o m p a n y ___
19
19%
18% 1 9 %
17% Aug 20
D o p r e f _______ ________
46
44% 44%
44% 44%
1,200
46
46
45
45
45
45
40% A ug 13
45%
62
62
62
62
*6 0
62
S t L & S a n F r , 1st p r e f . .
*58
*58
62
*58
*58
*62
59 M c h l8
39
Do
2d p r e f _____________
39
*37%
*37
38
38
36% 37%
800
*37
37% 38% *36
29 M c h 2 5
S t L o u is S o u t h w e s t e r n ___
18% * 1 6 %
*16% 18
18% *17
18%
18% *17
1 8 % *17
15% A u g 22
*16%
*42
50
46
*42
*42
D o p r e f ________________
*41
46
46
*41
45
*41
45
40 A u g 13
85% 86l»
85-% 86%
85% 86%
84% 85% 38.750 S o u t h e r n P a c if ic C o ______
86% 86%
69*4 M c h l4
8534 86*8
110
110
110
110
1.850
D o p r e f .................... .........
110% 110% l i d s 110% 110% 110% 110% 110%
108% A u g 24
*1534 16
16
3,540 S o u t h e r n v t r cfs s t a m p e d
16
16
16
16
16
15% 15-%
15% 15%
14% A u g 26
54
54
D o pref
do
*53% 55
53% 53%
720
53% 53%
53% 53%
50% A u g 24
53% 53%
*27
28
20%
27
27
600 f I 'e x a s & P a c i f i c __________
*27% 28% *17
26% 27
24 A u g 2 6
*2712 28
52
52
52
50
50
49*4
51
48
46
46
43
44%
3,085 J- h l r d A v e n u e (N Y ) _____
43 S e p 27
20% 2034
24%, *20% 24%
20% 20%
300 T o le d o R a i lw a y s & L i g h t
19i> S e p 17
*20% 2 4 % *20% 24% *20
26
*24
26
*23% 25%
24% 25
24% 24%
24*4 25
1.200 T o led o S t L & W e s te r n ___
23*4 M c h 2 6
463.1
4634
46%
47%
47
2,500
47%
47%
46% 46's
46%
D o p r e f . . . ..........................
40 A u g 17
47%
47%
9334 94
*94
96
96
96%i 95
95
94% 94%
94% 96
85 A u g 21
2,541 T w in C i t y R a p i d T r a n s it13034 132% 130% 132 I 129% 131% 12838 130% 126% 128% 451,000 1 [ n i o n P a c i f i c ____________ 120% M c lll4
131% 133
81% 81%
82
82
75 A u g 14
81% 8 1 %
81% *81% 82%'
500
D o p r e f ___________
81% 81%
8 1%

121

121

200

201

! !^ c c
! ! w®5

*12

*100

48%

*15% 183,

29 Aug26

*78

*85

BANKS AND
B anks
New York.
A e t n a ______
A m e r ic a H _ .
A m er E x ch.
B a tte ry P a rk
B o w e r y H___
B i o n x Boro*;
B u t c h ’s & D r
C e n t u r y f l___
C h a s e ________
C h a t h a m ___
C h e ls ’a E x c H

Bid

200

510
220
122
310
300
150
175
300
315

200

Ask

B anksC h e m ic a l___
C it iz e n s ’ C tr l

Bid
395
140
248
230
700
____

220
C i t y . ............
525
C oal & Ir o n .
230
C o lo n la lll___
132
C o lu m b ia
325
C om m e rce . _
____ C o n s o l id a t ’d 155
160
C o p p e r _____ 205
190
C o m E x c h *i 275
____ D is c o u n t U .
315 |Kast R i v e r . 140
--- F id e lit y U __ 180

T167

150

Ask
405
145
252
____
500
....
156
215
285
160
150
190

t S a le a t S to c k E x c h a n g e o r a t r u c t io n t h is w e e k ,




108% J a n
101% J a n
1331* J a n
122 J a n
94% J a n
83% J a n
85*4 F e b
195% J a n
6 5 i" J a n
219% J a n
56 J a n
27% J a n
69 J a n
18 J a n
79 F e b
713j F e b
2 6 % Ja n
157% J a n
165% J a n
141 J a n
149 J a n
205 J a n
234 J a n
170 J a n
165 J a n
9*4 F e b
25 J a n
6% A p r
1938 J a n
927g J a n
1081" J a n
3878 J a n
69 % J a n
58% J a n
227% J a n
510 J a n
42% J a n
837g J a n
80% J a n
19% J a n
39 J a n
44% J a n
757g J a n
67 J a n

7

12
5
5
10
7
8

4
14
2
5

5
5
2
25
14

5
14

Range lor Previous
Year (J906).
Lowest

HlgheaL

85% M a y
x98 D e c
1311* J ’ly
IO 5S4 M a y
91 O c t
71 J ’ly
83 J a n
155% M a y
65% J ’ne
204 M a y
511; N o v
25% S e p
70 D e c
16 J ’n e
7912 S e p
70 D e c
247g N o v
tl4 6 i2 Dec
{160 D e c

1101- S e p
106 J a n
167% J a n
125ix S e p
9912 J a n
94% J a n
87 F e b
2011- D e c
70?8 J a n
2397* M a j
65% A u g
35% O c t
7714 O c t
23% J a n
86>2 J a n
80 J a n
39% J a n
199% D e c
218 A u g

5
14
15
10 " 192 A p r
225 A u g
10
168 J ’ne
8
175 N o v
19
21
9^4 A p r
25 D e c
11
37s M a y
3
9
11% J ’ly
7
89 D e c
7 110 J ’ly
291- J a n
9
7
6 6 ij A p r
8
43 ' M a y
2
189 M a y
24
43734 M a y
7
36% M a y
10
83 O c t
16
79% D e c
5
10 J ’ly
32 A p r
4
5
38% M a y
7434 D e c
7
62l2 A p r
7
68 D e c
80 J ’ly
92 A p r 5
1893. Jan 2 C178 D e c
7034 D e c
85 J a n 5
S li- N o v
1134 O c t
14% J a n 17
33% J a n
47 J a n 3
7714 J a n
86% J a n 4
114 M c h 6
94 J a n 5
9212 N o v
172 J a n 3
104 M a y
33% J ’n e
39 J a n 23
75% J a n 7
70% J ’ly
28% J a n 4
24 J ’ly
51 J a n 7
48 J ’ly
80 J a n 10
77 O c t

30*4 J a n 5
61*4 J a n 8
281" J a n 12

2278J;jy

67% A p r 26
67 % J a n 9
145% J a n 5
146 F e b 13
107 J a n 23
27 % J a n 5
59 J a n 15
90 J a n 24
140% J a n 3
168 J a n 3
44-% M c h 1
7234 J a n 4
9234 J a n 51
147 J a n 8
59% J a n 9 1
27 F e b 14
13434 J a n 10
6 3 l" J a n 7
110 J a n 16
91*4 J a n 7
189 J a n 9
48-% J a n 5
92 % J a n 5
90% J a n 10
189% J a n 7
134 F e b 13
124% J a n 7

75 S e p
6II4 O ct
136i4 M a y
140 S e p
10J J ’ly
18% M a y
581- D e c
90 ‘ A p r
134 D e c
1631- A p r
29 M a y
64% A p r
851 M a y
133 " M a y
36 A p r
I 8I 4 J ’ne
120 N o v
59 M c h
111 A p r
80 M a y
189U D e c
4334 M a y
84 F e b
891- A p r
17914 May.

125 M c h 8
141*8 J a n 8
78 J a n 22
1051" J a n 5
139% J a n 7
92 J a n 7
94 J a n 8
30% J a n 5
641" J a n 5
70 “ J a n 11
48% J a n 5
25 % J a n 7
621" F e b 15
90% J a n 14
11818 J a n 14
34 J a n 5
941 " J a n 5
37% J a n 7
123 « n
8
29 J a n 7
3334 J a n
5
54% A p r 12
108% J a n 7
183 J a n 5
96 M a y 2

49

J iy

2712 J ’ly

-

240 J a n "
270 M e t
198 J a n
202 J a n
I 8I 4 J a n
4234 J a n
13*i F e b
471- M c h
1097g J a n
118 J a n
41 O c t
73% F e b
59 D e c
23434 N o v
560 M a y
51% J a n
9H 2 Ja n
102 F e b
22% J a n
45 J a n
50% J a n
83 J a n
70% J a n
76 J a n
94 A u g
348 F e b
85 D e c
921-J a n
231J J a n
53 “ A u g
97«j M a y
99% J ’n e
184i2 J n o
M ay
87% M a y
3434 J a n
033j J a n
841-F e b
37% J a n
71 J a n
44% J a n
}92i* J a n
8 IS4 J a n
1561- J a n
162 " J a n
127 J a n
291- D e c
84% J a n
IO 014 J a n
164 M c h
183*4 J a n
43% N o v
70 N o v
1003. J a n
14 y i, J a n
5934 D e c
:50 D e c
150i4 J a n
731, A p r
120% J a n
92 D e c
204% J a n
5714 J a n
97 % O c t
96 J a n
23212 F e b

553*

142 J ’ne
103 J a n
106 J a n
105 J a n
135 M a j
10512 J a n
1221* J ’ly
147i2 J a n
75 M a y
87 J a n
100 M a y 109 A u g
112 M a y *164 J a n
89 S e p
96 J a n
90 A p r
102 J a n
221- J ’ly
32% N o v
60 . J ’ly
6934 A u g
60 F e b
7234 A p r
401- J ’ly
51 14 F e b
201- M a y
27% J a n
4834 M a y
03% S e p
61 M a y
971-S e p
116 J ’ly ' 120% J ’n«
31% N o v 42% J a n
9312 Dec- 103 J a n
28 M a y
40*r O c t
121 N o v 1 I 391- J a n
25% D e c
30 " J a n
2514 J ’ly
401-J a n
43 J ’ly
59<8 J a n
102 D e c
122U J a n
1381- M a y 195*8 S e p

T R U S T COMPANIE S— B R O K E R S ’ QUOTATIONS.
Bid
B anks.
F if t h A v e i l. 3900
F i f t h _______
340
F ir s t ________ 615
1 4 th S tr e e t
225
F o u r t h _____ t l6 9
Gallatin___ 350
G a r f ie ld _____ 500
G e rm a n A
135
G e r m a n K x', ,500
G e r m a n ia 1i_ 500

Greenwich U

275

H a m i lt o n I f .
H a n o v e r ___

320
480

.

c

-r

Ask
4200
630
300

B a n k s.
Im p & T rad
In t e r b o r o f .
Ir v in g N Ex
J e lf e r s o n li..
L i b e r t y _____

Bid
510
155
185
210

360 " Lincoln___ 1100
M a n h a t t a n T 290
525
142% M a r k e t & F u l 255

Mechanics’ .

225

160
[MechiicTra
2 90 * Mercantile.. 205
350 (Mercli Fxch 175
500 : M e r c h a n ts ’ . T152

x ijciis v u a u iw u o u a iv o .

Ex beneficial Interest in ore properties,

Ask

B anks.

M e tro p o lis T
M e tr o p o il'n T
M t M o r r is !!.
220 ’ v lu tu u l J j_ ._
500
N a s s a u H ___
525
105

1200

305
265
235
170
220
185

New Amster

Bid
390
150
240
280
200
190
210

X ? v N e th T d
j N ew Y o r k C o
iN ew Y o r k . . T301
IN’ht & Day',: 3 >5
:19th Ward * 450

1200

jNorth Araer 240

. . . . iNorthern__
ii . n a i c u a u ^ s .

165

Ask

liid
Ask
265
255
250
230
435
P a rk ______ 425
P e o p le ’s U__ 300
|Plienlx___ 155 ■ 1*6*5"
...
iPlaza H___ 570
jl’ r o d E x c h 1; 160 . 175
260
\R iv e r s id e 1;_ 250
360
'Seaboard__
( S e c o n d _____ 700
400
'S ta te 11______ 375
ll 2 th W a r d T 450 '
2 3 d W a r d t . 190 . ~~~

B anks.
O r ie n t a l 1 ]..
160 " P a c ific f ___

290

210
200
225
....
...
405*"
____
2*50
175

CL il)X-ellVitlCtlCl A nd I’iffhtS .

h 1st instai'mt paid,

3-:o

n Sold at private sale at this prl*

iSew York Stock Record—Concluded—Page 2

28 1907,.|

S e f t.

STOCKS —H IG H E S T A N D IX) WEST S A L E P R IC E S .
isavuTaay
Sepl 21

1 vesaay

Monaay
Sept2Z

Sept 24

rr tunwuuy
Sept 25

l uumuuy
Sept. 26

r t muy
Sept. 27

Sales 0)
the
Week
Shares

STOCKS
N E W Y O R K STOCK
EXCHANGE

On

Range 1m Year 1907
!
nl 10{\-sharr. In1st
Lowest.

Highest.

Range lor Previous
Year (19061
Lowest.

H ighest.

98 J an
62 J a n 71
50 Apr18 Sep 26
1,700 U n it R y s I n v ’t of S a n F ra n
93 % J a q
71% J a n 7
55 Apr"
32 A u g 17
D o p r e f________________
37
181, J a n 5 | 18 Dec:
26 % J a n
10% A u g 12
1,400
III4
1934 A u g 19
38 % J a n 7'
36% Dec
D o p r e f___________
53% Fell
1,100
20-14
163” J a n 7
8 % A ug30
16 A p r
W h e e lin g & L a k e E r ie ___
21 % Feb
11
3734 J a n 5
36 M ay
48% Fpli
D o 1st p r e f _______
21% A ug24
200
25
21*4 J a n 10
D o 2d p re f____________
11% A u g 23
21% O ct:
29i-> Fell
15
257s J a n 12
133g A u g 19
33 J a n
23 May
171,
210 W isc o n s in C e n tr a l________
51 % J a n 7
64 J a n
30% A ug 23
D o p r e f________________
44 J ’ly '
200
3812
In d u s fnakS: .M iscellaneous
A d a m s E xrpess__________ §150 A uc:14 §330 J ’n e 20 §240 J 'n o '300 Aug
*150
*150
*150
*150
*150
*150
l(i78 J a n 5
4 A u g 16
16 J ’Jy ; 27% J a n
2,650 •£M lls-Chalm ers__ _______
6 % " 8%
7
" 7"
8
7*4 * 8 %
9
"s ’ "
* Via
* 8% *9%
433) J a n 3
40 SeiH
Do
p r e f____________
15% A u g 16
67 J a n
1,700
20
23% *18% 24
22 % 2214
23
21 U 22
2312 23% 25
57% Sep 27 12 l 7g J a n 5
92% J ’ly ; 118% Feb
60% 61%
57% 60% 319,106 A m a lg a m a te d C o p p e r____
59% 6134 5958 62%
60lg 61%
61% 62%
34 ig J a n
253(j J a n 8
A raer A g r ic u ltu r a l C lie m .
15 May27
20 J ’ly
18
18
*16
18
*15
*15
18
18
*15
18
*15
*17
.
82% A u g 30
90 Dec- 102 J a n
D o p r e f________________
95 F eb 20
*771, 95
95
*77
95
*77
95
*77
90
*77
95
*77
231, J a n 7
10% May22
35 J a n
201, M av
200 A m e ric a n Beet S u g a r____
*12
13
11% 11%
13
*11
*11 " 13
121- 12% * 11% 13
89 % J a n
827g O ct
*
_
_
*_
*
D
o
p
r
e
f____
________
75
M
ch
5
80
J
a
n
21
*
* „
*
____
75
75
75
75
75
75
5
71, A p r l l
45S *4
*4
4% Sep 23
' “ 756 A m erica n Can4%
4%
*4
4%
*41/1
412
4I2
41*
D o p re f ___ ______ __
43 A u g 19
60% A p r 10 ____ ____ ____ ___ _
300
48% 48%
49
49
*4814 49U *48*i 491? *4834 49 I4 *4834 49%
471, J a n
45 % J a n 14
31 Mch25
32% J 'iy
6,800 A m e ric a n C a r & F o u n d ry
38
36% 37%
38
38%
37
38*8 39
♦38U 38%
38-% 39'8
D o p r e f_______________ 1
92% M c h 25 103 J a n 12
105 “ J a n
*94?g 95
610
98% J ’ly
*94
95
93
95
94%
95
96 I 4
94's 947s *93
361,
J
’ly
27
A
m
e
ric
a
n
C
o
tto
n
O
il______
27
Mch25
28
M
ay
44% J a n
2,050
32
32i2
33
31%
sii33
32%
*32% 33'g
33
331
4
3314
90 J a n 21
90 Dec
D o p r e f________________
88 M ch 13
95 J a n
90
go
25
90
90
90
§85
85
*85
*85
*85
*85
*85
A m e ric a n E x press_______
180 A u g i9 247 J a n 5
215 A p r 272 Aug
*195 210 *195 210 *195 210 *195 210 *195 215 *195 215
8 % J a n 11
lis 4 J a n
334 A u g 20
* 41,
77s May
434
434
5%
*4%
5%
300 A m e rica n Grass T w in e ___
5%
*414
51■
>
5
5
*4%
6 % J a n jo
A m erica n H id e & L e ather
3 % A u g 30
5% N ov
10 J a n
4
4
4
*314
*3%
4
*31 •> 4
*312
*3%
*3%
301, J a n 7
D o p r e f______ ____ __
15% A ug 12
24 " N ov
43 J a n
*16
150
18
*16
18
15% 15%
*16
18
*16
18
*16
IS
35% J a n !
32 Sep 27
8 8 "Jan 2
947s Sep
32
*40
50
*40
50
32
200 A m e rica n Ice S e c u ritie s ..
*40
*40
50
*45
53
53
29% J a n
1634 Dec
7 A ug26
1914 J a n 10
300 A m e rica n L i n s e e d . ____
8%
9
8
8
*7% 11%
*7% 11%
9
*8
*8
818
35 Dec
D o p re f________________
36 J a n 7
17 A u g 26
5378 J a n
*19
21
21
21
*19
*19
*191g 21
*19% 21
*1912 21
781, J a il
491, A u g 20
75*4 F eb 15
5334 May
5034 52
52% 53
3,110 A m e rica n L o c o m o t iv e ___
*5212 53
52% 52%
51% 52%
53
5312
120 % J a n
D o p r e f________________
98 A u g 24 l l l l , J a n 21
108% Dec
105 *102 105
333
§101
x99% 100%
101 *101
103 §105 “ 105 *102
2 % J ’ne 10
4
4
4
4
4
4
A m e rica n M a lt C o rp _____
$7 % A p r 2
*314
*3
*314
*3
*3%
D o p r e f.
____________
40 F eb 21 I I "
I .1
19% Sep 24
20
20
II..
20
20
300
*19
21
21
*19
*19
19U 1914 *18
93% J a n 7
161*4 J a n
*
86 Mch25
A m e r Srrrelters Sec pref B
92% Dec
*87
91 *
89
85 *
85
85 *
A
m
e
r
S
m
e
ltin
g
&
R
e
fin
in
g
x8534
Sep
27
174
J
an
90%
1155
J
a
n
7
903
4
92%
z
8534
138%
May
90%
92
I
4
913
4
182,750
93
94
"
'93%
90*4
89*8
D o p r e f________________
921-; A u g 20 117*8 J a n 7 112 Dec
130 J a n
2,400
98
99%
98
9712 9744 *9712 98
98%
96% 97%
*97
98
A m e rica n S n u ff___________ 192% J 'ly 12 205 J a n is
220 J a n
200 J ’ly
*140 240 *150 240 *150 240 *150 240 *150 240 *150 240
82% Sep 25 102 J ’ne 7 100 Dee
D o p re f________________
*
107 J a n
' " ’ 266
90 * ___.
90 *
90
82% S2 % *75 100
*75 100
1514 J a n
10% J a n 5
51- M a y 22
934 N ov
6
650 A m e ric a n Steel F o un dries
6%
6
6%
*7
7
7
6%
6%
712
6 -% 634
471, J a n 7
53 % J a n
D o p r e f________ ______
283] A u g 21
40 May
40
37
36
735
39
*37
38
36
38
39
38
37ls *37
2,350 A m e ric a n S u g a r H e fin ln g . 1071, A u g 15 137 % F eb 13 127% May 157 J a n
112% 114
113*2 114
113b 113% 112% 112% 112 112 % 111 113
D o p r e f________________
11578 Sep 5 131 J a n 2
200
1281® Dec- 140 J a n
116% 116% *116 120
118 118 *11612 120 *116% 120 *116% 120
A m e ric a n T eleph & -Telee c 104% J ’ne 14 133 J a n 4 130 J ’ly 144% J a n
*107 108 *105 108 *105 110 *105 110 *106 110 *106 110
9S % J a n 5
743s A u g 15
520 A m e ric a n T obac (n e w ). pf
109 J a n
78
78
*77
78%
96 J ’ly
77% 78
78i2 7812
7812 781?
*77*2 83
36% J a n 7
■
2034 Sep 13
223S 22
48 J a n
22
22
21 %
22
22
21 % 21%
21
2,040 A m e ric a n W o o le n ............
28 N o v
§2212 22 %
110 % J a n
D o p r e f .. ____ ______
85 A u g 13 1027s J a n a 1O1 J ’ly
40
91
90
*87
91
*87
89
*86
89
*S5
*S 6
§89% 89%
37% 3878
38
39%
39
223% M ay 300 Feb
39% 407g
38
36% 38% 16,400 d A n a c o n d a C o p p e r Par$2f> S3534 Sep 13 302 % F eb ic
38% 391«
___: ____ ___ _
$51, A u g 28
S‘9% M ay 13
6%
2,000 d B a to p Ila s M in in g P a r$ 2 0
6%
6%
6%
6>2
6*4
6%
6%
5*4
6%
6%
658
9978 Sep 26 125 M ay 1 105% N o v ‘ 178 J a n
*98 110
100 I> ro o k ly n U n io n G a s ____
997S 9978 *95 n o
*95 110 *100 110 *100 110
I 41, J a n 4
21*4 A p r
10 M a y il
10
10
*9
10
10
1212
10
100 U r u n s w lc k D o c k & C Im p
*9
*9
*9
*914 1212
13% J ’lyj
31 A u g 14
40 A p r ’ 70 May
32
30
32
*271, 33
49 % J a n 3
32»i 530
*25
*30
50 B u tte rlc k C o _____________
33
*23
*25
l(;i 4 A u g 15
40 F e b 15
*17
19
1734 17%
17*1 1734
700 / 'e n tr a l L e a th e r _________
33*4 D e c ;
4978 J a n
19
19
*1712 19
*1712 19
9 h% Dec
107% J a n
82% 82% *81% 84
D o p r e f____ __ ______
81*4 Sep 13 102 F eb 8
81*4 82
82
*82
85
83
83
1,458 vv
83
57% J a n 8
21 Sep 27
22*4 22%
22
21 % 21%
83% J a n
221,
22 %
40% May21
3,200 C olorad o F u e l & I r o n ____
*23
2212 23
2312
28 % A p r ft
211, 21 % * 201, 23
19% A u g 20
30% N ov
22 H 23;<s * 201* 201, 23
500 Col & H o c k C oal & I r o n . .
2412
17 M ay
*22
18134 J a n
9 C34 Sep 27 140% M ch 1
98*4 102%
9634 98
104 10434 102% 103
6,450 C on so lid a te d Gas (N Y ) . .
130% A pr
*105 107 *104 “ 106
24:34 J a n 22
C
o
m
P
ro
d
u
c
ts
R
e
fin
in
g
.
.
U
%
A
u
g
14
28 A p r
*131
2
510
131
2
14
13%
14
13%
131
2
14%
*13I2
*1314
13%
18% J ’ly
13%
D o p r e f________________
74 % May.
627;j A u g 17
*641 •> 63
64% 6434 *64% 67
88 J a n 28
85% A pr
66
*641- 68
*64% 68
495
66
5734 z54% 561,
78 F e b 13
51 J a n '
3.242 D istille rs' S ecurities C o rp .
41 A u g 20
57
54
74% Sep
56% 57
57
58
54% *53% 55
*821, 95
F ederal M in in g & S m e lt’g
95 Sep 13 163 J a n 16 138 Jan s 199 J a n
*85 112
*85 112 * __ _ 95
*82% 94% *82% 95
71 A u g 27
*701, 80
D o p r e f________________
80 * __ I
80
80
72
97 J a n 14
*71
200
*71
91 J ’ly' 1127s J a n
*71% 80
71
120 A u g 26 163 J a n 22 1 156 Dec-j 184 O c t
128 128
126% 129
128 12914 *122 '8 129 *126 130 *126 129
1,125 G e neral E le c t r ic _________
____ j
*so 100
G r a n b y Cons M S & P ___
80 Sep 16 152 F eb 13
*80 110
*80 100
*80 100
*85 110
*80 100
____
____
____
6
6
6 A u g 20
77s M a y 2
*6
*6
7
8
" ” 166 I n t M er M a rin e stk tr ctfs
*6
7
8
*6
____!
____
1D
o
p
r
e
f______________
15
A
u
g
26
17%
100
18
*16
24
A
p
r
25
*17U 18
17%
*17'4 1812 1714
*15%
181, J a n 7
1114 May27
14
14
13
13
*13
14
14
300 In te r n a tio n a l P a p e r ____
’ I 3 I 4 *13% *13
*13
*13
I(j% Sep ’ " 26 % J a il
72
D o p r e f____________ .
81 F eb 11
72
*70
72
*70
70 Sep 14
90 J a n
*70
72
*70
*69
71
*69
80 Dec
71
5034 J a n i 5
40 M ch 14
*41% 43
$41
41
r95 J a n
*4112 43
41
41
40
40
" ’ " 3 I 6 In te r n a t io n a l P o w e r____
48 Sep
*4112 43
41 J a n 7
2012 2012 *20
*20
23
23
20
20
22
28 J a n ;
*19
500 ln t e m a t S te am P u m p ___
60 M ay
19 A u g 27
* 2012 22
Gtjio A u g 19
81 J a n 14
72
70
100
D o p r e f_____ ________
71 J a n
70
*69
71
70
*691
*6 8
*69
71
*69
92 M ay
71
____
____
59
A
u
g
15
65
61% 617S
75% J a n 24
*63
*63
700 M a c k ay C o m p a n ie s _______
63
63%
04'-2 63% 64
*t\37s 65
____
____
59 A u g 15
D o p r e f_____________ .
*63% 65
*62% 641'.
6312 64
63% 63% *62
62
71 J a n 24
400
63% *
86 % J a n 15
66*4 A u g 21
74
74
74
74
2,092 VT a tlo n a l B is c u it_____ .
73
73% ' §7434 74»i
74% 75
75
173
62 M ay " 79 % Dec
110 U J ’ne 4 117% M ch 0
112 *110
112 *110
D o p re f____________
113% J a n
112 *110
112 *110
112
§112
112 ** 10
10 -1*
118% O c t
111, *10
181, J a n
*10
11*4 *10
N a t E n a m e l’g & S ta m p ’g
10 " A u g 20
1U 2 * 1012 1112 *10
11
12 May11 2 *10
15*8*^^'^ 5
D o p r e f________________
87 F e b 15
*75
85
*75
85
*75
85
*78
85
*75
85
*75
85
79 M ch 2 8
82 Sep
88 % M ch
76% J a n 7
52
50
49% 51%
50
50
50
42% A u g 17
5OI4
50l4 50U
47
51%
3.500 N a tio n a l L e a d ________
66 M ay
95% J a n
*933g 95
*93l2 95
D o p re f________________
93 A u g 2 9 103 J a n 5
*931* 95
*93% 95
*93*8 95
*93% 95
100 % J ’ne 106 % J a n
____
834
91•>
$ 7% Sep 13 $20*1 A p r 18
9
91-.
9
9%
3.660 N ew liouse M & S .P a r S lV
9
9
9
* 8%
9%
934
110
j
110
110 " 109
163% J a n
107 111
111
109
106% 1087«
3,890 N ew Y o rk A ir B ra k e ____
9 >- M ay 27 1411,J a n
108 110
133 j ’ly
8934 J a n 4
5934 59*4 *5914 60
50 A u g 17
*58% 60
550 N o r th A m e ric a n C o. new
*5934 60
87% Nov, 107 J a n
57% 58% *57% 58%
41% J a n 5
*24
511, J a n
26
*24
p a c i f i c M a l l ............ ...........
28*4 J ’ne
2612] *231* 26
*25
2614 *24
26
26
211, Mcl)25
*23
84 " A u g 15
87
2,100 -I e o ple’s Gas-L & C (C hlc)
86
86 %
85% 86
98% J a n 4
*8612 88
S6 % 86 % 86 % 87
103 “ J a n
87*4
88 J ’i y
*91
4
734
A
u
g
19
167g J a n 15
10
10
10
%
*9
101
.
10
%
P
itts
b
u
r
g
h
C
oal
C
o
_______
1012
10
%
10
%
1,100
18% N o v
*914
10*2
13% May*
6 (>%Jan 4
5012 5012 *48
54
D o p r e f . . ____________
54
*49% 51
54
*49
*49
300
48 A u g 28
621, J a n
48% 48%
50 J ’ly
57 J a n 10
64% J a n
’ 27
27
28
2 812
27
28
2712 27
25% 261,
2,395 Pressed Steel C a r_________
25 A u g 12
2734 *27
43 May
9978 J a n 24
*83
85
83
D o p r e f________________
85
*81
86
84% §83
83
§84
84
*84
436
82 Aug24
95 May 105 Feb
*155 159 *155 158 *155 158
100 P u llm a n C o m p a n y _______
150 M ch 14 181% J a n 8 180 Dec 270 N o v
157% 157% *155 158% *155 158%
571, J a n 10
37
37
3534 3534
600 1> a llw a y Steel S p r in g ___
3134 A u g 15
36% 36%
*3612 37
361» 36*j
*36% 37
6234 J a n
44 May
______
-tv
D o p r e f____________ x 791? S e p 10
*81% 90
*811* 90
*81t2 91
107 J a n
* * 1% 90
99% F eb 15
*81% 90
*81% 90
97 % J ’ly
41 J a n 7
21
21
413 , Dec
2112 2178 *21
* 20*4 21 %
20 % 203j
1.110 R e p u b lic Ir o n & S te e l____
2 U 2 21 %
18% A u g 21
2 112
22% May
*70
§74% 74% *70
74% 74%
74
74
75
590
D o p r e f . . _____________
68 % A ug 19 100 J a n 7
75
*69% 73%
91 May 110 % J a n
4734 4?3j
97% J a n
47%
48
48
47
47
46
1.400 C loss- S heffleld S te e l& Ir n
42 M ch 14
77% J a n 7
4712 *1612 4712
45
68 % J ’ly
*3 D o p r e f . . ___
113 A p r
92% J ’ne22 107 J a n 11
104% O c t
*135 145 *135 145 *135 145 *135 145 *135 145 *135 145
T enn C oal, Iro n & R R ___ 130 M ch 26 162 J a n 4 129 J a n J166 N o v
*30
3134 3 134 *30
32
32
31
31
*30
32
30
30
500 ^Tennessee C oppe r P or$2 5 $30 A u g 15 $ 53 % M ch 1
*60
*0 0
*60
*60
6*i
68
68
*60
68
*60
68
85 J a n 17
68
Texas P acific L a n d T r u s t.
60 A u g 13
88 O c t
60 M a y
*5
5*4 *5
5
1514 J a n
600 I Tnlon B a g & P a p e r____
8 % J a n 15
5%
*5
5
5 Sep 23
5%
5
5-34
(>% Sep
____ *54
55
*54
55
57
57
D o p r e f____________
*54
56
55
55
200 vJ
84 J a n
61 J a n 7
50% Mch25
52 O c t
*29
31% *28
31%
49 % J a n 5
30
30
31% *29
30% 30%
470 U S Cast I P ip e & F o u n d r
31% *28
53 J a n
27 A u g 23
43% M ay
*75
80 *
80
81
*75
80
89 J a n 15
*75
80
80
*75
*76
D o p r e f_______________
967s J a n
74 M c h 26
83% Dec
*85
*87
90
90
*85
90
*87
90
90
90
*87
*85
U n ite d S tate s E x press___
85 A u g 24 §117 J a n 9 109 M ay 138% J a n
*49
*50
52
*5012 53
53
*49
53
90 % J a n 4
*50
52
49?8 50%
200 U S R e a lty & Im p r o v e m ’t
48% A u g 21
75 A u g
94% J a n
*10
*9% 15
15
*10
15
15
*11
*9
14
15
30 % J a n 28
*9
U S R e d u c tio n & R e fin in g
40% J ’ne
10 % A u g 20
24 M ch
*34
42
42
*34
42
*35
40
*37
*34
41
40
*34
D o p r e f________________
35 A u g 20
68 J a n 7
84 J ’ne
60 M ch
32
*29
30
30
*28* 32
*28
32
281, 28% *27
31
200 U n ite d S tates R u b b e r ___
52 % F e b 16
271, A u g 13
591, O c t
38 J ’ly
90% 90~8
92*, §92% 92% *89% 92%
91
92
91%
9214 *90
D o 1st p r e f____________
795
85 A u g 20 10978 J a n 7 1 104*4 J ’ly a-115 J a n
611; 613) *6112 62
6 1:,4 6l3j *61% 62
*61% 62
78% J a n 7
61% 61%
400
D o 2d p r e f____________
60 A u g 15
75 M ay x87% J a n
277c 28%
2878 29%
28% 29>ft
28
28%
27% 28%
50*8 J a n 7
27% 212,620 U n ite d S tate s S te e l_______
27
27 Sep 27
32% J ’ly
50% O c t
907g 92!8 90% 9112 901-i 91%
92
9212
90% 90%
88% 90% 83.250
D o p r e f________________
88 % Sep 27 10734 J a n 7
98*4 J ’ly
113% J a n
*22
23
23
2312 *23
22
23% * “>2
700 d U ta h C oD ner___ P a r S10 121 Sep 17 $ 391, M ch 4
23
22" ’ *2014 22
*20
22
*2014 23* ’ *20
20 % *20 %
20
20
39*8 J a n 7
200! V lrgin ia - C arolln a C hem __
19 A u g 12
68 J a n
31 J ’ly
96
J6
*95 100
*93% 100
*95 100
*95 100
*91% 100
100;
D o p r e f. _____________
95 A u g 20 108 J a n e
104 J ’ly 1171, J a n
*50
55
*50
0^ 1*? 531» *50
55
55
*50
55
*45
55
100 V irg in ia Iro n C oal & Coke
97 J a n 22
93 Dec
45 A u g 20
38 May
*250 300 *250 300 *250 300 *250 300 *250 300 *250 300
\\f ells F argo & C o ______ 250 M ay 7 300 J ’ne 3 233 Mch 305 O c t
76’ | *75
747g i 4<8' 74
75
77
78
*75
75
73
73%
1,875 !
estern U n io n T e le g ..
85 J a n 10 18334 Dec
94% J a n
73 Sep 27
* ____ 138 *130 138 * ____ 138 *130 138 §138 138 * ____ 128
50. W e s tln g h ’s e E l& M fg assen 136 A u g 15 154 J a n 2 148 A ug 176 J a n
*
165 * ____ 165
165 *
165 1*
165 * ____ 165
162 Nov 188 J a n
.— — 1 D o 1st p r e f____________ §145 A p r 26 § 160 May23
23
20 U
23
*36
*36 "
37
* 11% 1134
III4
2034
*2014 21
11
*9
*9
*22
*22
25
14
*10
*11
*15% 171o *1519
38%
*38% 40 "

22

18
18
18
36
*33
36
36
*3512 36U
1134
10% 11 '* *11
12% *11
I I I 4 111,
20 % 20 %
19% 20
20
20
20
20 %
*9
*9
*9
11
*9
11
11
11
25
22
22
*22
*22
*22
25
25
*10
*11
15
15
*11
15
*10
15
*15% 1712 *1512 15%
*14% 17%
15
15
40
39
39
*38% 40
*39
*38% 40
20

20 U

19
*33

20

18
*33

__ __

......

__

__

__

BANKS
Ask
B anks,
230
B rooklyn.
122% 132%
230
600
First _______
400
Hom e B ’nU*
425
M a n u fa c trs ’
I.Mechanlcs’ T
lUontAUk____
Brooklyn.
N a s s a u ____
i.Nat C it y ___
B orough 1|.. 170
V orth Side 1j
B road w ay 11. 450
1Prospect PkV
B rook lyn . . 115
130 IT e rm ln a l. _T
B anks.
U n io n Exe 1i
U S E xch 1; _
W a s h H ’htsll
W est SlcleljY orkvllle fl.

Bid
215

Bid

AND
A ik

.

T RU ST

T rust C os.’
AT Y C ity.
A s t o r ______
Bankers' T r
390
B ow i’g G r’n
270
B roadw ay T r
C a rn e g ie ___
32o C entral T r’st
^Columbia . .
270 " ■Commercial
310 C o m m o n w ’h
370 !r ;m p lr e ____
liq u ita b le T r
155 (Farm Lo& T

C O M P A N IE S — B A N K E R S '
Bid

Ask

Bid

Ask

Q UOTAT ION S.

Bid
Ask
Trust Co’ s.
Brooklyn.
B rook lyn Tr 420
490
275
1010
C itiz e n s '___ 132
145 *
370
425
475
640
275
F la tb u sh . . 250
225
160
210
325
4C0
F r a n k lin ___ 300
4')0
200
210
90
100
4":fo" ’ 440
H a m ilto n . . 310
335
300
1700
1100 1200
650
670
155
H o m e __. . .
155
210
203
240
250
1250 1300 J e n k in s ____ 20b”
240
200
215
310
330
420
435
K ings C o ___ 450
47*5”
300
100
430
L Isl L & T r .. 290
1125 1175
310 •
330
340
82*5" 875
325
345
N a s s a u ____ T190
160
375
400
575
400
People’s ___
325"
140
1190 1200
650
700
200” W lllia m s b ’g 215 " 230
185
♦B id a n d asked prices; no sales on th is d a y .
th a n 100 shares. $ E x- rl?hts. &New stock. cE x- dlv id en d a n d rig h ts. dN ow q u o te d dollars p e rsh a r*
f Sale a t Stock E x chan ge or a t a u c tio n th is wee a . sl*ru3t Co. certificates. If B ank s m a rk e d w ith a p a ra g ra p h (H) are S ta te ban k s.




....
__

__

340
460
410
150

__

__

__
..

T rust C o’ s.
Fidelity_____
F ifth A v T r .
F u lt o n ______
G u a r a n ty T r
G u a rd ia n Tr
H u d s o n ___
K n lc k ’b ’ker
Law T I& T r .
L inco ln T r. .
M a n h a tta n .
M e rc a n tile ..
M e tro p o llt’ n
M orton T r’st

210

.

220

550
315
500
225

T rust Co’ s
M u t u a l ____
M u t A ill’nce
N Y L lfe & T r
New Y o rk Tr
S ta n d a rd T r
Title G u & T r
Tr Co o f A m
U n io n T rust
U S M tg& T r
U n it S ta te s.
V a n N ’denT r
W a shing to n
W in d s o r ___

Bid
115
180
975
620

Ask
125
195

New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
O C C U F Y IM .
B OiNl>S
M. Y . STOCK E X C H A N G E
W e e k E n d in g S e p t 27
LI. » . ( ’i o v e r n m e u t
V S 2s consol registered.cil93(
U 3 2s consol coupon ___ cil93i
U S 3s re g is te re d ............ &191>
U S 3s c oupon ................... fcl91s
U S 3s reg s m a ll bo nds../cl91b
U 3 8s oou sm a ll b o n d s ..#1918
5 8 4s re gistered....... . ...... 1925
O S 4 8 c o u p o n .....................1925
IT S P a n C s n 10-30 y r 28.4193
P h ilm i >ine is la n d s 4S.1914-H4
P u b w ks a n d im p reg 4s 1935
P u b w ks a n d im p r e g ... 1936
K o r c ic n fJo v e r n u ie n t
Im p e r ia l Jap an es e G o vernin'!
i j u a n 4 ls8 ctls f u ll p d . 1925
2d aeries 4 Has ctfs f u ll paid.
£ loan 4s ctfs fu ll p a id .. 1931
B e p u b of C u b a us ex ten d e b t..
U S <>£ M exico « t jr os of 1K99
G o ld 4s Of 1904................1954
S t a t e a n d C ity S e c u r it ie s
A la uaina c u rr lu u d 4 » ___ i;>20
B is t of C o lu m b ia 3 -tf5s___ 1924
L o u is ia n a new consol 4 s .. 1^14
N Y C ity —T m po rary receipts
for 4 ^ Cor,) S to c k ........ 1957
fo r 4 :i % assessmt b o n d s .. ’ 17
N o r th C arolin a uunsu. 4 a.i9 1 (

Week's
R ange or
Lat>t hate

Jrrice
F r id a v
S rp l 27
Q-J
Q-J
Q-F
Q-F
y-F
0,-F
Q-f
>j -f
Q N
W-F
Q-S
Q-F

F -A
J J
J- J
M-8
W-J
J-D
t 1
J- J
F-A
J- J

R ange
Since
Jan u a ry 7

B id
A*
10534 1061
100 106:i
1 0 2 ^ 10 'i4
103

Low
h iu n
105 Hi A u g ’O';
UI5 Hi A u g ’07
102 Hi J ’l y ’ 07
1 0 2 34
10234
107 J ’n e ’0'2
l o i ’g
104’a O ct ’05
123 1'15 \ 125 '4 126 U
125 12014 125 >s Sep ’07
105 106
! 0 5 's O c t ’06
111 M ay’Oti
lOOHa

10-2Hi

i 8 0 14 Sale
} SH-hi Sale
t 8 O -4 81
1 1 0 1 Sale
9 7 ^ 99
9134 9234
hese a re yr

88^
89^
88*.
8!-3s
hO
BOH
100 Sg 101
97 Sen ’07
92
Slf-4
ices 0 v t/ie L

Low H ,,,n
104 H 105
104 H 10t;i4
H 12I4 102 “4
102 10;
125*4 l.'iO3
125 *4 13o"

943s
."4H3 92 -e
75 v8 85 <4
!)8 b4 103:>4
'.)6:)8 99
91 Hi 95
0/
to £ .

M a r ’02
1U
1 1 3 - j......... 117 Hi J ’n e ’O
.........100
105 Hi D e o ’o4

M-N 106Hi Sale
m -N 1023s Sale
J -J
A-0
So C a ro lin a 4 Has 20-40....... 1931. J-J
T e n n new se ttlem ent 3 s ..l9 1 3 ij
......... 93 H
&9 ........
V ir g in ia fu n d deot 2-3S...1991 J -j
6s deferred B ro w n Bros ctfs
25
27j4

l()fi Hi 1073,
102% 103
m O ^ A p r ’07
126 M a r ’07
120 M a r’Oi
92
92
9 3 l4 M ay’ll
28 A u g ’07

10278 10734
101 103

100»4 IOOI4

126

126

92*' '9 0 ”
1*3 *4 953-(
20
3 0 14

tCailroui'.
a C en t bee So Ry
A labam
litba M id i See A t Coast B ine

A lb a n y & 8 usq Hee Del & H ut
A lle g h e n y V alley 6'eePenn RK
A tle g i& W est Hee B ull it & P
A n n A rb o r 1st g 4s......... /(1995
A tc u X<fe s b e— G en g 48.199;'
R eg iste re d ........................ 1995
A d ju s tm e n t g 4s.........../t.1995
R e g is te r e d ..................A1095
S tam ped......................./j.1995
C o n v g 4s.......................... 1955
10-year conv g 5 s .........li/17
lie b a n tu re b 4s Series F.19US
Series G ......................... 1909
Series H . . ..................... 1910
Series 1...........................1911
Series K ......................... 1913
E a s t O k la X>iv 1st g 4 s .. 1928
A t l K n o x <fe N Hee L & N
A tla n tic Coast 1st g 4 s ./il9 5 2
C harles <fc S av 1st g 7 s ..l9 3 ti
S av F <fc W 1st gold 6 s.. 1934
1st gold 5s.....................1934
A la M id 1st g u gold 5s ..1 92 8
B r u n s * W 1st g u g 4 s .. 1938
L <fc N coll g 48.............. ol9 52
8 il Sp Oca <&G gu g 4 s .. 191,'
A tla n tic <fc D a n v See S o u lli Ry
A u s tin ite N W .See Sou Pacific
a ll & O hio p rior 1g 3 His. 1925
R egistered................ii 1925
G o ld 4 s ............................/il9 48
R e g is te r e d ................. A.1948
P itta J u n c 1st gold 6 s ... 1922
P J un & M D iv 1st g 3*3*1925
P L E d i W V a S y s re f 4sl941
8 o u th w D iv 1st g 3*28...1925
R e g is te re d ................../tl925
M o nou R iv 1st gu g 5 s .. 1919
C eu O hio R la tc g 4 H i.i- .1 9 3 t
(J1 Lor <fe W con 1st g 5s 1931;
O h io R iv e r R R 1st g 58.1930
(je n e ra i gold 5s............ 193
P u t s C lev 6c Tol 1st g 6s 1922
P itts Jb W est 1st g 4 s ... 1917
B ta t l s i R y 1st g u g 4 H is 1943
B a t C te e k <vj * hee M ie n Cent
Beech Creek See N V C & H
B elie v & C ar hee Illin o is Gen l
B k ly n <fe M o n ta n k hee L o n g 1
B ru n s <fe W est hee A t l Coast L
B uffalo N Y <fc E rie hee E rie
B u ila lo R <fc P gen ir 5 s ...1937
A ll ifc W est l 3 t g 4s g u . . 1998
C l <fc M a li 1st gu g 5s___ 1943
R ooh <fc P itts 1st g 6 s ...1921
Consol 1st n 6s............ 1922
B u ita lo <fc S on thw e s’i hee Erie
B ult & Husq 1st re* g 4s.cil951
B u r C R & X hee C R I & P
ian a da S o u th 1st 5s........1908
•2d o s . , ............................. 1913
R e g is t e r e d ................. 1913
C arb <S> S h a w n hee 111 Cent
C a ro lin a C en t hee Seab A ir L
C arth age & A d hee N Y C 4 H
Oed R l a F <fc N hee B C R & .N
C an B ra n c n R y hee M o Pac
C en t of G a R R 1st g 5 s ..p l9 4 6
C onsol gold 5s..................1945
R egistered ..................... 1945
1st pref incom e g 5s___ p l9 4 5
S ta m p e d .................................
2u pret incom e g ha___ p l9 4 5
S ta m p e d ................................
3a pret incom e e 5s___ p i 945

B

L

Q-J
A-O
A-C
Nov
Nov
M-N
J-U
J-D
F-A
F-A
F-A
F-A
F-A
MS
M-S
J- J
A-O
A-O
M-N
J- J
M-N
J- J
J- J
y-J
A-O
y-J
J -J
M-N
M-N
J- J

ti

M-S
A-O
J-iJ
A-O
A-O
J -J
J-D

M-S
A-O
J- J
F-A
J- 0
J-J

85 ]a .......
98a4 Sale
96 .......
87 Hi........

8 5 ’-4
85',
:>n
9 b 3,
9 6 34 A u g ’i/,
S 1 ^ Sep ’O'
86 A p r ’07
8 1 7g
H6
92 Hi
933<
1 0 1 ^ 102
101 J ’l y ’07
98=8 Muy’07
96 F e b ’O?
9 8 Hi N ov ’04
94 N o v ’06
93 M a y ’07

85 Hi Sale
9234 Sale

101^sSale

88

.......

S8

88 Hi Sale
121
lo 5
105
90
79
88

Sale
.........

89

90

98*4 Sale
......... 97
86a.
a 6 H i.
1UM .
98«* .
lo y 3*

.

110

88

9 2 Hi

79 Hi 89 H.
94
94

90 >4
90 Hi
84 H, J ’n e ’wv
9714
98^
94 Sep ’07

89
93 Hi
8 9 *t) 92 Hi
96 102^
94 101 Hi

UOl ’ Oi

h6 J ’n e ’07
88 Hi
^bHi
86Hi
86 Hi
89 O ct ’06
1057g F e b ’07
109 A p r ’05
i0 9 34 J ’n e’07
il6
A ta y’ Oi
113 HiNov’t)6
119 Hi M a r’04
94 A lar’o7
lo o N o y ’04

86
90
87
96
85 Hi 90*4
1u 5 78 105 7g
109*4 i"l3*°8

9 2 l4 A ug'O '

112
102

I I 8 H1
103 Hf

118

123 Hi

8934 8 6 ^

J- J 1 0 0 a4 Sale 100 Hi lO O 7,
,V1-S 100 7g Saic 1007» 1 0 0 'fc
W1-SS 100 ......... 1 00 34 M ay’07

99Hil02Hi
99 105 Hi
10034 1003<

F-A
M-N
M-N
Oct

116 116
1 00 '-a 111

Oct

A-O
J -J

J- J
M-N
F-A
F-A
b’-A
F-A
J-J
J-J
J-J
A-O
J-J
F-A
A-O
J- J
J- J
M-S
w

09Hi 100
77 sain
101

99
99 Hi
77
78*a
lOOHi 101
98 *2 Sep ’07
99
99
99
98 Sep ’07
87 F e b ’07
80
*0 Sep ’07
80
sep ’07
78*4 80
101*4 98*3 M av’07
97*4
97*4
96 Hi

..._
.....

85
88
64*3 Sale

85 A u g ’07
i-.OHi J ’ne’o7
64 Hi
68
69 *4 J ’ly ’07
109 M a r ’Os
......... . . . . . . 98 M ay’06

[ * X o p n o e F r id a y ; la t e s t p r ic e t h is w e e k .




t’ A (< K S
thrice
t'r ia a v
Sept a 7

N . Y. KTO<: K K X C H A X fi E
W>.SK E.N
.1 SEPT 27

Week’s
R ange or
L ast Sale

2-5
S~i|

Range
Since

1 Jnnotary 1

HtO.
Asu \
Low
H tg Aj Ao Lou, M ig k
C en t Of G a R R —( C o n )
....................j 45 A ug-07|
3d pref incom e g 5s stam ped.
45
66
93 J ’n e O O ...,
(Jhatt m v p u r 111011 g 48.1951 J -1»
1 15 V. D e c ’u f i ___
Mao <fc N o r D iv 1st g 5 a .1940 J-J
115 N o v ’0 5 ___
M id O a & A t l D iv 5s___ 1947 J-J
115 Hi A u g ’051___
M obile D iv 1st g 5s....... 1946 J-J
98 A u g ’07
")eti RK<& U of (ja col g 5a 1937 VI-N
9e 108
1I9H, u 6 <*
Jent. of N J ge n ’l gold 5s. 1987 J- J 119 V Sale 119 ‘4 1) 9
R e g is te re d .................h 1987 Q-J 117 >-1
117»8 126
117"8 1 17 ^
A m Dock & Im p gu 5 s ..1921 J- J 1 0 5 1 4 ........ 107 A u g ’07
106", i l l
Le & H u d R gen g u g 5 a 1920 J- J
98 >4 A u g ’UT
Leli <fc W ilk s B Coal 5 s ..1912 M-N
!»s»4 100>a
9 7 14 8 ep ’07
Con ext g uar i'-js___ fll910 Q-M
97 “4 101
N Y & L on g B r gen g4 s 1941 M-S
Cent Pacific, See So P acific Co
88
M ay’O’.
C e n tV e rm o n t 1st g u 94s.el920 Q-F
85
89 7«
Clias & s a v hee A t l Coast L in e
102\ J ’l y ’07 . . J '100 105
Ches & O hio g Cs ser A ..i'i.l9 0 A-O 102*4
105 J ’ly
G old 6s......... ................... al91 1 A-O 106
104 107
1st consol g 5»..................193? M-N 1 10 Hi bale 110 Hi 1.1
109 116
116 J ’lie’OO
R egistered .....................1939 M-N
io o H 99 H» 100 ‘g
G e n u a l sold 4 HsS............1992 M-S
07.M 105*4
104 M ay’dt
R egistered..................... 1992 M-S
112 F e b ’Ot
C raig V alle y 1st g 5 s___ 1940 J - J
95
Sep
’.17
H d t A D iv 1st con g 4 s ..1989 J- J
9 17S 100 Hi
90 J'ne\)7
2d consol g 4 8 ................1989 J- J
90
92H»1 1 3 ^ I’ cu :u5
W a rm S pr V al 1st g 58..1941 M-S
993* F e b ’116
G reenbrier R y l s t g u g d s ’40 M-ri
76 J ’ly ’O'"
70 Hi.
75°4 80
Clue 6c A lt R R ref g 3 s ...1949 A-O
63 .
63
63
H a ilw a y l e t lie n 3 ^ 8 ...1 9 5 0 J - J
63
76\.
hO 'g M ny’05
R egistered..................... 1950 J- J
97 V A u g ’O 7
Chic B u rl & Q— D env D 4s 1922 F-A
97 *8 100*3
87;j8 A u g ’07
8'J
Illin o is l)iv 3 H is t............ 194! J- J
87\ 92 *a
90 Sep ’(h)
R eg iste re d .....................1949 J- J
9» -salt99
99
G o ld 4 s........................... 1949 J- J
9*7*4 103 *
106 M ay’07
Io w a D iv sin k fun d 58..1919 A-O 105 >6
- 106 1015
100 Hi A u g ’o7
S in k in g fu n d 4 s .............1919 A-O 100*8
98\ 1C4
98
101 A u g ’o"
N e b ra sk a E x ten sio n 48.1927 M-N
. 100
102
101 14 D e c ’O
R egistered ..................... 1927 M-N
100 J ’l y ’06
S outhw estern D iv 4s___ 1921 M-S
J o in t bonds See G rea t N o rth
99 100
99
09%
D eb en ture 5s................... 1913 M-N
99 104
105*3109
H a n ifc S t J o s consol 6s. .1911 M-S 102 1041* 1> 5 Hi J ’l y ’07
92 A p r ’o7
92
92
92
C hic & E 111 ref & im p g 48 1955 J - J
102
100 Hi 103
1st s f c u r 6a................... 1907 J-D 101 % 103 102
126 S e p ’0
1st consol g 6s..................1934 A-O 123 127
126 Hi 128 *♦
L0934 Sep ’u
G eneral consol 1st 5s___ 1937 M-N
108 Hi 1x7 Hi
118Hi F e b ’06
R egistered................:..19 37 M-N
113 Hi F e b ’07
C hic <fc ln d C R y 1st 5 a .1936 J-J
C hicago & E rie See E rie
121 A u g ’07
C lue I n & L o u is v ref 6 s ...1947 J - J 120 124
121 126 H»
109
109
R e fu n d in g gold 5s...........1947 J- J 1.........109
107 111;h
102 S e p ’07
L ou isv N A & Oh 1st 68.1910 J - J
:o2 105
C hic M il & St P te rm g 5s 1914 J - J 103 Hi....... 103 Hi i0 3 Hi
102
iOO
G e n era l g 4s series A ..e l9 8 9 J - J 100 ....... 100
100 107
99 ....... 104 H; O ct ’06
R e gistered................... «1989
-J
G e n e ra lg 3 Has atrie a B .e l989 -J ' ......... 8 9 1 89 J ’l y ’07
88 1h 93 ’4
Chic & L S u D iv g 5s___ 1921 J - J 10& ....... 1 15 ’-4 Oot ’Uii
ibV» " 1 13 s*
C hic & M o R iv D iv 5 s ...1926 J - J 10614 ____ 109 A u g ’07
104 A u g ’07
104 1 0 5 ^
C liic & P a c D iv 6s...........1910 J- J
C hic & P W 1st g 5s....... 1921 J-J i o s ^ i ’0 9 " 106 S e p ’07
106 112
106 J ’ue’o7
D a k & G t So g 5s............ 1916 J-J
106 1 0 6 34
137Hi J ’l y ’99
F a r «Sb S ou assu g 6s....... 1924 J-J
H a s t <fc D D iv 1st 7s....... 1910 J- J 103*8106 x4 105 Hi J ’l y ’07
i'0'5 C l o y "
Is t S s ............................... 1910 J- J 101 Hi......... lo o Hi J ’ly ’o7
100 ^ 100*3.
182 ‘a A p i ’06
1 <fe D E x te n l s t 7 s ......... 1908 J- J
LaCrosse A D 1st 5s___ 1919 J- J 103 ....... . 106 Hi J ’ly ’07
10 6 Hi-i 1 8*4
101 Hi
lO I* , 103
M in e r a l P o in t D iv 5s___ 1910 J- J l O lH i ......... I 11II 4
104
So M in n D iv 1st 6s......... 1910 J- J 10378 104 Hi 104
1(12 4 A ug 07
S o u th w e s tD iv ls t 6 8 ___ 1909 J- J
102*8 l'-'4
106 1103*
W i8 & M in n D iv g 5 s ___ 1921 J- J 105 ......... 106 A u g ’o7
1067g fce b ’O) ...i 10 6 70 1"7
M il & N o 1st M L 6 s ....1 91 0 J-D l u l \
107
J
’u
t
’oi
1st consol 6s..................1913 J-D
...I 107 111*3.
i l 8 ;,s M ay’07 . . .
C hic <fc N o r th w cons 7 s___ 1915 o-F 116
21
9^=4
9 8 ’j
E x te n sio n 4s......... 1886-1926 F-A
96 ......... 97 Sep ’07
R egistered...........1886-1920 F-A
97 104
G eneral gold 3 ^ 8 ............ 1987 M-N ......... 91 Hi 943« J iy ’07
92 Hi 98
89 ........ 95 F e b ’07
R e g is te r e d ..................»1987 Q-F
;5
96
S in k in g fu n d 6 s ...1879-1929 A-O 10834 ......... lo 7 J 'n e ’07
106 107
R egistered ...........1879-1929 A-O
106*4 J ’ne u7
106*4 106*4
S in k in g fu n d 5 s ...1879-1929 A-O i o f " ! ! ! ! 105 Hi A u g o7
lo.> Hi 107
R eg iste re d ...........1879-1929 A-O
107 Hi J 'ne’u6
D e b e n ture 5s................... 1909 M-N i b o " iboH, loU Sep ’t)7
100
l ( ) 2 !!a
R egistered ..................... 1909 M-N
9 9 '4 J u e ’Oi
98 101
D e b e n tu re 5s................... 1921 A-O
104 Sep 0 7
104 107
R eg iste re d.....................1921 A-O
103 J ’n e’o7
!(>3 103
S in k in g fu n d deb 5 s ...,.1 9 3 3 M-N 110
110 \ 11 OH
1 i 0 Hi 11434
R egistered..................... 1933 M-N
117 F e b ’o t
N o rth Illin o is 1st 5s___ 1910 M-S 1 0 0 ® 8 ........ 105 *4 D e c ’O;.
O tt C F & S t P a u l 1st 5s 1909 M-S
98 - i......... 100*8 Mey'07 . . . ;io o *4 1023g.
W in o n a <fe S t P e t 2d 7 s ..1907 M-N 102 Hi........ 100 >a A u g ’07 ...I MM5* 101 7g
M il L S
W est 1st g 6s 1921 M-N 117s! , ........ 118 Hi Sep 07 . . . l i l l b H ! l'-'3 J4
113 Hi M ay’07 ...1 11 3 113*3
Ext<fc Im p s fu n d g 5s 1929 F-A
A s lila n d D iv 1st g 6 s ..1925 M-8 1 17
142 Hi Feb '02
128 Hi F e b '06
M ic h D iv 1st g 6s......... 1924 J - J 117
109 Sep ’ 03
In c o m e s ........................ 1911 M-N 100
C hic R ock ls i & P ac 6 a ...1917 J - J
114 S H i J ’l y ’n7 __}j 114 117 Ht
ll6 H jM a r ’07
R eg iste re d .....................1917 J - J
" I 6 H1 1 1 6 H1
96
9 6 l4
G e n eral gokl 4s................198b J-J
96 Sale
94 100*3
92 Sep ’07
R egistered..................... 1988 J-J
92
yy»4
R e fu n d in g g 4 s .............. 1934 A-O
8 / Hi
88-. 47 85 *3 91*4
88 Sale
97 J ’l y '04
C oll tr u s t S e rie s H 4s .. 1910 M-N
92 H: N o v ’oo
J 4 s .................................1912 M-N
90*4 J a n ’07
M 4S.................................1915 M-N
90*4 90*3
93 M ay’o 1 .- .I!.....,
N 4 s .................................1916 M-N
9034 F e ll’07 ...j;
O 48..................................1917 M-N
84
A
u
g
’07
P 4 s .................................1918 M-N
85
... 84
90
68
69 *4 45 61*4 77
C hic B I * P ac R R 4 a ..2002 M-N
69 Salb
79 Dec ’05
R e g is te re d .................... 2002 M N
C oll tru s t gold 5 s.........1913 M-S
82 Hi
833, 20ij s i .4 9 l»*
83
84
B u r Oed R <fc N o r th e rn —
I OS Hi Sep ’07 ...H IO 8 H1 119
Oou 1 st.& col t r g 5 s ...1934 A-O 109
R egistered..................1934 A-O
120 Hi M u r '0 3
C R IF & N W 1st gu 58.1921 A-O 104 .........j l l l
N o v ’05
M <te S t L 1st iru ir 7 s .. 1927 J-D

.....

liaHitUHi

102 1o534

.... -10a®8

.....

1
1!l 983« 102

9Ji* "905i

110 M a r’07
lO lH i isali: lO lH i l o l ’ g
.........101 H: 113 A p r ’06
......... 80
80 Hi J ’t y ’o7'
88 M ay’07
70 J ’n e ’07
66H: A u g ’o7
50 J ’ly ’07

85
85
70
66 Hi
50

• U l.s C t li L A M i O I J . ''
S tr e e t tta ilv v a y
B ro o k ly n R a p T r g 5s....... 1945
1st re fu n d couv g 4 s___ 2002
B k C ity 1st oou 5s. 1916.1941
B k Q Co <fc S con g u g 5 s .1941
B k ly n U n E l 1st g 4-5s.l950
S tam ped <:uar 4-5s___ 1950
K in g s Co E l 1st g 4 s___ 1949
S ta m ped g u a r 4 s .........1949
N a ssa u E lec gu g 4 s ___ 1951
C o n n R y & L lst<fe ref g 4 His ’51
S ta m ped g u a r 4 H is.........1951
D en C ou T r Co 1st g os. ..1933
B e t U n ite d 1st con g 4*38.1932
H a v a n a E lec consol g 5s. 1952
In te r- M et coll 4His............ 1956
I n t e r n a l True coll t r 4 s..1949
jL o u m R y Co ls t c o n sr5 s..1930
M a n ila Eleo 1st V
&V coll
vvu 58.1953

98 78

87

113 ^ May'07
103 Hi F e b ’07
103 A p r ’97
124 A p r ’ufi
118 J ’n e’07

105 .
114Hi.
.........

9 l " ‘ v ia "

88^

1327a J a n ’06
1 L25g J a n ’04
i 14°8 N ov ’05
99 Hi M a r’06
79
79
94 J ’l y ’o7

1'20

86 *2

81 Hi 91
95 10 2 Hi
933» 10134
86
92 7(,
86
86
84*3 92 7t
88*, 108*4
97 102
99 101
9 8 Bg 98 \
96
96

I ’O I J K

aD ue Jan

9(i
90
76
7134
65

H O .')).- — C o n tin u e d 011 .Next I’ a u e .

s t r e e t R a il w a y
M et S t R y gen col tr g 5 s .1997
13 99 107
R e f g 4 s............................. 2002
H6 73*4 92*8
RwayiS: 7 th A v l s t c g o s 1943
7 100 Hi 103*4
C o l< te 9 tliA V lS tg u g 68.1993
98 Hi 101 Hi
£, 98 Hi 108
Lex A v <fc P F l s t g u g 5 s 1993
T h ird A v e R R con g u 4s 2000
98 104
T h ird A v e R y 1st g 5 s ..1937
Hi
89
80
88 Hi M et W S E l(C h ic ) 1 s t g 4 s . 193b
M il E l R y ifc L 30-yr g 5 s .1926
79
86
98*3 102 Hi M in n S t R y 1st con g 5 s .. 1919
5 97*4 98*4 N O rl R y & L t ge n 4 His ..1935
S t Jo s R y L t H <fe P 1st g 5s ’37
85
86 Hi ^ t P a u l v;ny C ab cou g 5a. 1937
1,'ndergrouiidot L o n 5 s ... 1908
eOH; 93
U u io n E l (C liic) 1st g 6 *..19 45
82
34? 53
U n ite d R R s S au F r s f 4 s .1927
68
73
U n ite d Ry# S t L 1st g 48.1934
.... . . . . . . . . . . . . W
IV OUIU
1 con
l-Ull ir
k 58.1936
iJO.ll'Ob
C hic 0
S tk 40-yr

d, D u e A p r

* D ue M a y

g D u e J ’n o

/ iD u e J ’ly

n o ue

F-A
A-O
J-D
M-S
M-S
J- J
J- J
F-A
F-A
J- J
J- J
il-N
J-J
J -li
AO
A-O
J -J
M-N
■:g

101 J ’l y ’07
.. 72 Hi 73 A u g ’07
99 Hi 102
100 Sep ’07
103 105
1(15 Sep ’o7
. . 105 107Hi A u g ’07
66 Sale
66
67
105
J ’ly >07
93 Hi J\y ’06
109 J ’ly ’Or
107 Hi F e b ’06
9 0 Hj sep ’06
95
103*4 O ct ’0 <
110*3 N o v ’06
64 H Sep >07
too J a n ’07
Se() ’07
78
81
79Hi J ’l y ’07
90
D e c ’97

10834

oD uo UCS

jiu u o .N o v

108*4
S3
113
113 **
107 4 110
64*-; 89
1 08 34 114 ‘3

64 *4 94
100
67
83*4
79 Hi 85

100

s e p t.

New York Bond Record—Continued—

28 1 9 0 7 . ]

t r ic e
hYirlav
Sept 27

N . Y. STOCK E X C H A N G E
W b e k E n d in g s e p t 27
C h ic R o c k X & Pac—(C o n )
C hoc O k cfc G gen g 5s .01919 J - J
C onsol gold 5 h.............. 1962 M-N
K(-ok & Des M 1st 5s___ 192: A-O
C h ic S t L A N U
See 111 cen t
C hic S t L /it P itts see L'enn C<
O hio S t P M <fe O con (is ...1930 j-:
Cons 6s reduced to 3 *2S . 1 9 3 o J-D
O il S t P cfc M in n 1st g Os 1918 M-N
• N o r W isc onsin 1st 6 s ...1 93 0 J-J
S t P cfc S C ity 1st g 6 s ...1919 A-O
C hicago T er T ran s g 4 s ...1947 J- J
C oupon o t t .................................
C hic cfc W est I n n ge n g Os ?1932 q-ii
C onsol 50-year 4a............ 1952 j . j
C hic cfc W M ie n bee P ere M aro
Choc O cfc G u lf bee C K I & P
C ln H cfc D 2d gold 4 >28 ...1 9 3 7 j -j
C in D & i 1st g u g os. ..1941 -rf-N
C F in d & F t W J ‘it c u 4s tr.’23 M-N
C in 1 cfc VV 1st k u g 48.1953 J-J
I n d Doc cfc W 1st g 5 s ... 1935 J- J
1st g u a r gold 5 s............ 1935 J-J
C I a t L cfc G see C C C cfc S t x
C in S cfc C See U C C S t L
G leartteld * M a li See B R cfc 1
C lev C in C & S t Li gen g 4s 199, J-l)
C airo D lv 1st gold 4s___ 1939 J-J
C ln W & M D iv 1st g 48.1991 J - J
S t L D lv 1st col tr g 4 s ..1990 M-N
R egistered..................... 1990 M-N
S » r & Col D iv 1st g 4a. .1940 M-S
W VV V al D lv 1st g 4 8 ... 1940 J- J
C I S t L cfc C consol 6 s .. 1920 M-N
1st gold 4s.............„.../cl9 3 lj Q-F
R e g is te r e d .............. fcl936 ti-F
C ln S cfc C l con 1st g 5s. .1928 J- J
C C C <fc 1 c onsol78 ......... 1914 J-D
Consol sin k fu n d 7s___ 1914 J-D
G e neral consol gold 6 s .1934 J-J
R egistered..................1934 J-J
I n d B l cfc W 1st prel 48.1940 A-O
O I n d cfc W 1st pf 5 s ...< a 9 3 s Q-J
Peo cfc E ast 1st con 4 s ...1 9 4 0 A-O
In c o m e 4 a . . . ..................1990 A pr
O lev <te M a rie tta see P e n n R lt
C lev cfc P itts See P e n n Co
C ol M id la n d 1st g 4 a......... 1947 J- J
Colorado <fc Sou 1st g 4 s . . .1929
R e fu n d cfc ex t 4*-js.........1935
Colurn cfc G ree nv se* So R y
Ool cfc H o c k V al See H o c k Vai
C ol cfc T ol See H o c k V a l
C ol C on n <fc T e n u See is & W
C onn <fc Pas R iv a 1st g 4 s .1943
a k <fc G t So bee C M cfc S t P
alias & W aco see M K * 'x
Del L a c k cfc W estern 7s. ..1907 M-S
M o r r i s * Essex l s t 7 s . . . 1914 M-N
ls t c o n s o l g u a r d s ....... 1916 J-D
R egistered..................1915 J-I)
1st ref g u g 3 ‘as...........2000 J-D
N Y L a c k &VV 1st 6 s ...1921 J- J
C o n struc tio n 6s...........1923 F-A
T erm cfc Im pro ve 4s___ 1923 M-N
W a rre n 1st re f g u g 3 *38-2000 F-A
Del cfc H u d 1st P a D iv 7 s .1917 M-S
R egistered.....................1917 M-S
10-yr oonv deb 4s...........1916 J-D
▲ lb cfc Sus conv 3 “as....... 1946 A-O
K ens cfc S aratoga 1st 7s. 1921 M-N
D el K iv R R B ridg e See P a R ll
D env cfc R G r ls t c o n g 4 s .1936 J-J
Consol gold 4*38 .............. 1936 J-J
Im p ro v e m e n t gold 5 s...l92t- J-I>
B io G r J u n o 1st gu g 58.193'. J-D
R io gr So 1st gold 4 s ....194* J - J
G u a ra n te e d ................... 19 4 < J - J
R io G r W est 1st g 4s___ 193» J - J
M g e a n d col tru s t 4SA .1949 A-O
U ta h C e n t 1st g u g4 s a l9 1 7 A-O
D e s M o ic fc F tD see M <fc St x.
Des M o i U n R y 1st g 5 s ..1917 M-N
D et cfc M a c k 1st lien g 4s. 1995 J-D
G o ld 4s............................... 1995 J-D
D e tro it S o u th e rn —
O h io S ou D iv 1st g 4 s ...1941 M-S
Dul<fc Ir o n R a n g e 1st 5 s ..1937 A-O
R egistered........................ 1937 A-O
2 d 6s.................................. 1916 J-J
D u) S h o rt L in e See N o r P ac
D n l So Shore cfc A t l g 5 s ..1937 J- J
fa s t of M in n bee S t P M cfc M
Ja s t T en V a cfc G a See So Ry
E lg in J o l cfc East 1st g 5 s .1 94 1 M-N
K im C ort cfc N o See L e h cfc N Y
B rie 1st ex t gold 4s............ 1947 M-N
2d ex t gold”5s................... 1919 M-S
8d e x t gold 4 *38.............1 9 2 3 M-S
4 th ex t gold 5s..................1920 A-O
6 th ex t gold 4s................. 1928 J-D
1st consol gold 7s............ 1920 M-S
1st ooneol g fu n d 7s....... 1920 M-S
E rie 1st con g 4s p r io r ..1996 J- J
R egistered ................ ...1 9 9 6 J- J
i s t consol gen lie n g 4 s ..1996 J- J
R egistered ..................... 1996 J-J
P e n n coil t r g 4 s............ 1951 F-A
60-year conv 4s A .........1953 A-O
do
Series B ...1 9 5 3 A-O
B utt N Y & E rie 1st 7 s ..1916 J-D
B u ir & S W gold 6s......... 1908 J- J
C h ic cfc E rie 1st gold o s .. 1982 M-N
C lev cfc M ahon V al g 5s.193b J -J
Je ff R R 1st g u g 5 s ....a l9 0 9 A-O
Iio n g D ock consol g 6 s ..1935 A-O
Coal cfc K K 1st c u r g u 68.1922 M-N
D ock cfc i m p 1st our 6 s ..1913 J- J
N Y cfc G reen L g u g 5 s .1946 M-N

J ia n g i
Since
Ja n u a ry 2

Wtele's
R a w ' or
L a y ■ ate

A»h Lov>
H ig h
1109 NTov’06
!lll
M ay’06
101 Sep ’07

Low H ig h

125 V?....... . 125 Sep ’07
93 D e c ’03
131*4 F e b ’07
129s! M a r ’04
117». J ’l y ’07
9734 A p r ’i ’7
109*4 M ay’(>7
107 Hi....... 110 J ’l y ’07
92 .......
97 t8 A p r ’07

131

ll6 \ 1 2 0 ^
97% ! ~\
97 l i it '4
109*4 113
97 7s 98

Oct. ’W)
J ’ue’O"

113
102

lO l^ .

128

131*4 131*4

102

83 J a n ’07
104H F e b ’07
107 *a Dec 02

105*4

fc3
83
104*2 105

96
96^
99 J a n *o7
95 Sep ’07
93 *2 ^
’0 i
97 J a n ’07
H9s4 !• el>’05
88
>.18 Sep ’06
l(/4
105 J a n ’04
va *s......... 98 *2 Sep ’07
98 *8......... 97 Sep ’07
109 J ’ne’o?
115*2......... 115 *2 Sep ’07

97*2
95
109
115 *2

99
99»a
lost
! 18 V

125

127

132

.........

96*4

95 102
99% 99«s
*'5
98 *v
93
983«
97
97

’ 94”

1U91*127

J ’l y ’07

104**2 NoV’o i
9 0*4 ........
50 S a lt

89
50

63*2 65
83 7g ____

63
64
83*.
84
95 F e b ’07

A u g ’07
55

2o
12
0

62
74*4
83 »s 94*8
95
95

................... j 0 2 *4 May’07
117*2........ 117 Si A u g ’07
........ .........117 S Sep ’07
....................i-it J ’ne'06

10] V 104*2
117*2 117*2
l ’j l 38 l2 1 3S

U S >2.
107\ .
97 .

119*2 122*4
107 111*2
97
97

119
* 9 6 ^ Sale
92*4 Sale
126
95

9334

9334
102*8 J a n ’0/
104 105Hi F e b ’117
109 M .11 ’05
76 D e c '05
KM J a n ’05
91
91*2 91
79 s 8734 F e b ’07
97 J a n ’u i
93
....................110 S e p ’04
92 M a r’u7
. I 89 A p r ’07
107

86 O ct ’06
107 A u g ’07
112*2 F e b ’06
110

J ’l y ’07

90*2 109 l4
87*2 110
92
97»<
102*8102*8
104\ 105 *2

887s 95
8734 8734

92
89

92
9-! *2

07

111*2

110

112

I

U 0 34 J ’ne’07
100 .........
104 . ...
99*-j
105
95 _____
.........1V5

107*2 J a n '06
i0 7 *2 J ’ne’07
103 V M ay’o7
l u s J ’ly ’07
loO J ’ne’07
128 A u g ’o7
133 F e b ’00
94
94*2
‘J4*v Sale
99*2 O ct ’06
79
79S
79v
80
85*2 F e b ’07
82
84'
80 Sep ’07
72
75V 75
76
67
70
68 A ug'07
•112
117*4 J ’l y ’07
1 0 4 ^ F e b ’06
111
111
110*4
116*2 J a n *05
107
101 A u g ’07
101*4
126 M ay’07
118 Sep ’06
l o 9 7s O ct ’05
121 *2 D e c ’06

110*4 11034
107 >2 109
103*8 103*8
108 108
100
10o7e
125 129*2
91

JMo p r ic e F r id a y ;




J-D
M -N
A-O

J- J
J- J
F-A

M-S
J-D
FA
J-D

101*«I02>3 101*, 102*,
62
65 >2 06
66
106 *2 Sale 1 0 5 7g 10 -*2
97**
97**
97 ** Sale.
10t! A p r ’07

......... 83
1 0 8 4 Sale

105 Feb 07
61*2 O ct ’o l
8 6 4 A p r ’o7
108
109
107*4 D e c ’OO
102 J ’l y ’07
98 D e c ’OU

118

116 *a M ay’07
93*2 M a r ’06

F-A

M-N
A-O
A-O
A-O

J- J

la t e s t tn d a n d a s k e d t h u w e e k . »

Due Jan

99*3

79
85*2
80
72
68
116*2

«
85*2
9 1 *5
1o 334
87
120*2

110*2 119
100*4 *01
126 130

- H IS C E H ^ A N E O U S
( xiim n n d E le c t r ic L ig lit
A tla n t a G L Co 1st g 5 s ...1947
B k ly n U G as 1st con g 5 s .1946
B uffalo G as 1st g 6 s___ ...1 9 4 7
C onsol Gas conv deb 6s___ 1909
D e tr o it C ity G as g 5s......... 1923
D e t G as Co con 1st g 5s. ..1 91 8
K d E l i l l B k n See iv C o E Lcfc P
E d E H I See N Y G c f c E L H c f c P
J£q G L A V 1st con g 5 s ..1932
G a i w Eleo lieri: C o c g 58.1949
0 e n E le c tric deb sr 3H,s. 1942
10-yr g d e b 5s (subNcrip) 1917
G r R a p G D Co 1st g 6 s ...1915
B u d s o n Co Gas 1st g 5 s ..1949
K a n C ity (M o) G as 1st g 5s 1922
JUntrs Co E l Lcfc P g 5 s . . . 1937
P urcha se m oney 6 s . . . . . .1997
E d K1 l i B k n ls t c o n g 4 s 1939

liO M t .'
N . Y. STOCK K X C H A N O E
W kkk Kitoing S e p t 27

775

2
P rice
fY irirjv
Sept - '

E rie — ( Con)
a Y Sus cfc W l e t ref 5 s .1937 J - J
2d gold 4*28 ................... 1937 F-A
G e neral gold 5s............ 1940 F-A
T e rm in a l 1st gold 5 s ...1 94 3 M-N
R egia §5,000 e a c h ...1 94 3 M-N
M id i i I I o f N J lst.g 6 s.1 9 1 0 A-O
W ilk cfc E a l s t g u g S s . l 942 J-D
iSvcfc I n d ls t c o n g u g G s ..l9 2 6 J - J
E rie cfc P itts See P e n n Co
E v a n s cfc T H 1st cons 68.1921 J - J
1st general gold 5s......... 1942 A-O
M t V ern on 1st gold 6 s ..1923 A-O
S a il Co B ra n ch 1st g 5s. 1930 A-O
'argo <fc So See Cli M cfc S t P
lin t cfc P ere M See Pere M ar
Fla C cfc P e m n See Sea A ir D ine
F ort S t U D Co 1st g 4*28.1941 J- J
F t W cfc D e n C 1st g 6 s ....1921 J-D
F t W cfc R io G r 1st g 4 8 ... 1928 J - J
/ ’ al H a r cfc S A See So Pac Co
W a i H cfc H o f 1882 1st 58.1913 A-O
G eorgia cfc A la See se a A D ine
G a C ar cfc N o r See Sea A D ine
G eorgia P acific See So Ky
G ila V G cfc N o r See So Pac Co
G o u v cfc Osvregat See N Y Cenl
G ra n d Hap cfc I n d see P e n n R K
G ray ’s P t T erm See S t D S \V
G t N o r—C B & Q coll tr 4s 1921
R egistered, f t ................... 1921
G ree nb rier R y See Clies cfc O
G u lf c fc S Ils tr e fc f e tg 5 s 61952
a n & S t J o See C ±5 cfc Q
o usaton ic See N Y N H cfc H
H o c k V al ls tc o n s o l g4*2S.1999 J - J
R e g iste re d ........................ 1999 J - J
Col cfc H V 1st ex t g 4s. .1948 A-O
Col cfc T ol 1st ex 4 s ....... 1955 F-A
H o u s t E cfc W T ex See So Pac
H o u s t cfc Tex Cen See So Pac Co
llin o is C e n tral 1st g 4 s ..1951 J-J
R e g iste re d ..................... 1951 J- J
1st gold 3 *38.....................1951 J- J
R eg iste re d ..................... 1951 J- J
E x te n d e d 1st g 3*ss. '...1 9 5 1 A-O
1st gold 3s s te rlin g ......... 1951 M-S
C oll T ru s t gold 4 s I......1 9 5 2 A-O
R e gistered.............. ....1 9 5 2 A-O
J-i N 0 cfc T ex gold 4s ...1 9 5 3 M-N
R e gistered..................... 1953 M-N
C airo B ridg e gold 4s___ 1950 J-D
DouisvDiVcfcTerm g3 *28.1953 J- J
M id d le D iv r e g 5 s ...........1921 F-A
O inalia D iv 1st g 3s....... 1951 F-A
S t D ouis DiVcfcterm g 3s.1961 J - J
R e gistered..................... 1951 J - J
G o ld 3 *38....................... 1951 J - J
R eg iste re d ..................1951 j -J
S p rin g D iv 1st g 3 *28 ...1 9 5 1 J- J
W estern D ines 1st g 4 s ..1951 F-A
B ellev cfc C ar 1st 6s....... 1923 J-D
C arb cfc S ha w 1st g 4 s ...1932 W!-S
C hic S t D cfc N O s 5 a ...1951 J-D
R eg iste re d ..................... 1951 J-D
G o ld 3*28 ........................ 1951 J-D
R egistered..................1951 J-D
M euiph D iv 1st g 4 s ...1951 J-D
S t D S ou 1st g u g 4s___ 1931 M-S
I n d B l cfc W est See C C C cfc S t L
i n d 111 cfc l a 1st g 4 s......... 1950 J- J
l u t cfc G re a t N o r 1st g 6 s.. 1919 M-N
2d gold 5s......................... 1909 M-S
3d gold 4s.......................... 1921 M-S
Io w a C e n tral 1st gold 6 s .. 1938 J-D
G o ld 4s............................... 1951 M-S
J e n e r a o n R R bee E rie
al A & G R See D S <fc M S
an cfc M ic h See Tol cfc O C
K C F t S cfc M See S t D cfc S F
K C <fc M K cfc B See S t D cfc S 1
K a n C cfc P acific See M K cfc 1
K a n C ity Sou 1st gold 3 s .. 1960 A -O
Registered........................ I96 0 A O
K e n tu c k y C e n t bee L ifc N
Keok cfc D es M o See C R Ic fc P
K n o x v ille cfc O hio See So R y
ake E rie cfc W 1st g 5 S..19371J- J
2d gold 5s.......................1941 J - J
N o r th O hio 1st g u g 5 s .. 1945 A-O
L Sho cfc M ich S See N Y Cent
Deli V a l N Y 1st g u g 4 *38.1940 J - J
rtegistered.........................1940 J - J
L e h ig h V ai (P a) cons g 4 s .2003 M-N
Leii V T er R y 1st gu g 6 s .1941 A-O
R egistered ........................ 1941 A-O
Leh V Coal Co 1st g u g 5s. 1933 J-J
Leh cfc N Y 1st g ua r g 4 s ..1945 M-S
R egistered.........................1945 M-S
E l C cfc N 1st pf 6 s ....... 1914 A-O
G old g u a r 5s..................1914 A-O
Le h cfc H u d R See C e n t of N J
Le h cfc W ilk e s b See c e n t of N J
Leroy cfc C aney V a i See M o P
L o n g D ock See E rie
L o n g Ib I’U—1st con g 5s. A.1931 Q-J
ls tc o n s o l gold 4s......... A1931
G e n eral gold 4s................1938
F erry gold 4.*38................1922 M-S
Gold l a .............................1 93 2 J-D
U nified gold 4 s ................1949 M-S
D eb en tu re gold 5s...........1934 J-D
G u a r ref gold 4s.............. 1949 M-S
Bklyncfc M o n t 1st g 6 s ..1911 M-S
1st os.............................. 1911 M-S
N i B cfc M B 1st con g 5s 1935 A-O
*N Y 4 R 11 1st g 6s....... 19'47 M-S
N o r S h B 1st con g g u 5 s 01932 Q-J
L o u is ia n a cfc A r k 1st g 5 s .1927 M-S

Week's
R ange or
Last Sale

H ig h
B id
A sk Low
108*2 J ’l y ’07
......... 107
100*4 D e c ’Oo
I I " ” 98" 100 A u g ’07
107 ......... 11038.VU)’O7

103*8 IIIIII

* 1 0 1 * 2 ............

R ang*
Sinem
Jan u a ry X
Low H i g h
108 110>*
100 103
110*8 U0>»

i 03 *4 Sep ’07
105 *2 A p r ’07
116 A p r ’Ob

103*4 1 0 4 ^
105*2 105 >a

116 .Tne’07
103*2 J ’ly ’07
114 A p r ’05
106*4 F e b ’06

116 116
103 *2 106%

t

H

L

95
72*j

89
50

D

119*2 U 9 S
10734 Sep ’07
97 J ’l y ’07
102 F e b ’03
133 F e b ’06:
140 A ug’01
9634
96
92“
92
133 *2 D e c ’Oo

P a g e

105 109
......... 81

93 *« Saiv.
.........

105 M a r ’96
10G34 1063.,
81*2 Sep ’07

105 112
81*3 87

100

100

M a r ’07

92*4

93--V

92 *4 Sep ’07

99*2

e g ’* Sale

99*4
99 34
103 N ov’oli
98:j4 N o v ’oC
99 A p r ’O.

104 J ’l y ’07
107-H. A p r ’07
91*4 Sep ’07
95*2 J ’l y '0 0
99*2 J ’ne’06
70 O ct ’04
100 J ’l y ’07
99
! M a y ’o7
i Sep ’07
98*4
’ M a y ’07
10 2 34 J an ’07
84-2 89 M a y ’07
123 M ay’9i<
78*2 A p r ’06
" s o ” 7 s34 F e b ’07

109*8.......

8d M a r’07
101 *8 O ct ’90
100 N o v ’oo
973» A u g ’o7
122 D e c ’05
97 M a r ’07
118*4 A p r ’07
1 1934 M a r ’04
93°g ai ay’04
98 *2 Sep ’tii
97 M a r ’07

98*2
95
.........113*2
94
95 *2
60
70
.........102=8

93 *2 M ay’07
114 A u g ’07
95 *2 Sep ’><7
65 J ’l y ’07
101*2

82

102*2

J ’ne’o7

89*4
8 s ng

103

S'STg
96*a

98

102%

99

105s*

99

99

104 104
to : >v* 073b
91*4 1007a

98 102*4
98
98
98 103 *,
97
97
102*4 102*4
91
89
78*4

78*4

88*4

89

”97 34 102
97
97
118*4 118*4

i/7

10O1,
97

93 *, 100
1 15*3
95
99%
79
65
101
111
82
85

111

K

69

60*2
69 H
63 OCl V

112
107
110

L

u

105

A tig’O'
J ’ne’u/
A p r ’o.

111 114
106*2 1077t
110 110*,

106 Sep ’07
106 M ay’o
95 O ct ’06
112*2 A u g ’u .
109 >2 O c t ’91'
106*2 106 s
T’n e’o7

10434 107*4
106 106

no
87 .......
......... 96

.......

9 9 * 4 ........

105

il2 * a i'l3*C
106*2 112*3

95 ^

9tt»4

i *1;i -a J a n ’ 06
105*4 J a n ’ Oc

101*2

102

67*s 73

.......

no

89
102
99*4
84
110
92

Sep ’07
N o v ’Oi
O ct ’01
Sep ’07
J ’ne’04
Sep ’07

99a4
9 a L',
1 1 0 *4 ls o v ’06
105 A p r ’07
109 N o v ’9b
102 Sep '07

110

114>,

8 9 " "9 9 “
84

95*9

92*’

9 9*i

9934 i o i ?
105

109*

i o o ” io s «B

U llN D S — C o n tin u e d o n N e x t P ;i* e .

4<<rj * n n d E le c t r ic L ig h t
Lac G as L of S t L 1st g 5s.el9 19
R ef and ex t 1st g 5s....... 1934
101 107*8
63
73 >2 M.ilw aukee G as L 1st 4 s .. 1927
104 139*4 N Y G E L H c f c P g 5 s .. .1948
P urchase m oney g 4s. ..1 94 9
97*8 100
E d E l 111 1st conv g 5 s ..1910
100 100
1st consol gold 5s......... 1995
N Y<fc Q E l Lcfc P 1st con g 5 s l 9 30
N Y <fc R ic h G as 1st g o s .1921
105 105
P at <fc P as O cfc E con g 5 s .1949
Peo Gas cfc C 1st con g Os.1943
80
87
R e fu n d in g gold 5s...........1947
102*s U O '4
C h G-L cfc Cke 1st g u g 5s 1937
C on G Co of Ch 1st g u g 5 s .’30
M u F u e l Gas 1st g u g 5s. 1947
Syracuse L ig h tin g 1st g 5 s .’51
T ren to n G cfc E l 1st g 5 s ..1949
115 117
W estchester L ig lit ’g g 5s. 1950
b D « e F e b d D u e A p r e D u e M a y A D u e J ’ly

Q-F

AO
M-N
J-D
F-A
M-S

101*4 Sale

......... 100
94
78

J- J
F-A

110
96
95

M-N

M-S
A-O
M-S

J- J
J-D

M-N

J-D
M-S
J-D

95

101*2 101*4
101*3 J ’n e’07
91*3 J a n ’07
95
96
80 Sep ’07
IOO** A u g ’07
113*4 J ’n e’06
95 A p r'0 7
103 N o v ’05
104*4 N o r ’05
116*8 J ’ne’07
100 A u g ’07
100 J ’l y ’07
101 *3 M ay’07
100 J ’ne’07

100 105*,
100*3102*,
91*3 91%
95 103*,
77
8 4 7,
99 101
" 9 5 " ’ 99”
116*8 119*,
100 10 3 4
100 105*,
100*2 108

100

100

M.my’Ob .
101*2F e b ’07 . . . . 101*2103
1 10

k D ue A ug 0 D u , O ct

® D a ® l>e«

j O p t io n B ate

77f>

New York Bond Record^Continucd—Page 3

BONUs
N . Y . STOCK E X C H A N G E
W e e k E n d in g S e p t 27
L o u ia v & N a s h v gen g 6 a.1930 J-I)
G o ld 5s...............................1937 M-N
U n ifie d gold 4s................1940 J - J
R eg istered ..................... 1940 J - J
S inK fu n d gold 6s............ 1910 A-O
Coll tr u s t gold 5s............ 1931 M-N
5-20-yr col t r deed g 4s. 1928 A-0
E H <fc N a s h 1st g 6 s ....1 9 1 9 J -D
L C in & Lex gold 4*28.-.1931 M-N
N O <fe M 1st gold 6 s ....1 9 3 0 J - J
N O <fc M 2d gold 6s....... 1930 J- J
P en saco la D i v g o ld 6 s ...1920 M-8
S t L D iv 1st gold 6s....... 1921 M-S
2d gold 3s.......................1980 M-S
A U K n o x cfc N o r 1st g 5 s l9 4 (i J-D
H e n d e r B d g e l s t s f g 6 s .l9 3 1 M-S
K e n tu c k y C en t gold 4s.."’ 087 J - J
L A N & M <fc M 1st g 4*38 J.945 M-S
L <fe N-South M Joint 4 s .1952 J ■J
N F l a & S 1st g u g 5 s ...1937 F-A
N & C B d # e g e n g n g 4 l 3 8 l 9 45 J - J
P e n s <fc A t l 1st g a g 6 a ..1921 F-A
8 & N A la con g a g 5 s.. 1930 F-A
L A J e ff B dge Co g u g 4 s ..1945 M-S
L N A <fcCh S e e C l & L .
a ho n C oal See L S & M 8
a n h a tta n B y consol 4 s. 1990 A-O
R e gistered..................1990 A-O
M e tropol E l 1st g 6s___ 1908 J - J
M c K ’p t & B V See N Y C ent
M e tro p o litan E l See M a n B y
M e x C e n t consol gold 4 s ..1911 J - J
1st consol incom e g 3 s .a l9 3 9 J ’ly
2d consol incom e g 3 s ..a l9 3 9 J ’ly
E q u ip <fc coll gold 58....... 1910 A-O
M e x ln t e r n a t 1st con g 4 s .1977 M-S
M e x N o r th 1st gold 6s___ 1910 J-D
M io h C e n t See N Y C en t
M id of N J See E rie
M il L S & W See C hic & N W
MU & N o r th See Oh M & S t P
M in n & S t L 1st gold 7 s ..1927 J-D
I o w a E x 1st gold 7s....... 190) J-D
P a c ific E x 1st gold 6 s ...1921 A-O
S o u th W e s t E x 1st g 7 s .1910 J-D
1 st consol gold 5s............ 1934 M-N
1st a n d re fu n d gold 4 s ..1949 M-S
D es M & F t I ) 1st g u 4 s ... ’35 J- J
M in n <& S t Li g n S e « B C R < fc N
M S t P <S>S S M con g 4 i n t g u ’38 J - J
M S S M <&A 1st g 4 in t g u i9 2 6 J - J
M in n U n See S t P M <6M
M o K a n <fe Tex 1st g 4 s ...1 9 9 0 J-D
2d gold 4s.............. 1........ffi990 F-A
1st e x t gold 5S '............... 1944 M-N
1st & re fu n d 48............... 2004 M-S
G e n s f 4*38 ................... 1936 J - J
S t L D iv 1st ref g 4s___ 2001 A-O
D a l & W a 1st g u g 5s. ..1 94 0 M-N
K a n C & Pac 1st g 4 s ...1 9 9 0 F-A
M o K <fc E 1st g u g 5s. ..1942 A-O
M K & Ofc 1st g u 5s....... 1942 M-N
M K & T of T 1 st g u g 5 s .l9 4 2 M-S
S lier Sh <fc So 1st g u g 5 s .1943 J-D
T e x & O k la l8 t g u g 5 s ...l 9 4 3 M-S
M o Pacific 1st con g 6 s ...1 9 2 0 M-N
T ru s t gold 5s s ta m p e d .a l9 1 7 M-S
R e g is te r e d ..................a l9 1 7 M-S
1st coil gold 5s................. 1920 F-A
40-year cold lo a n 4s....... 1945 M-S
3d 7s ex td a t 4 % .............. 1938 M-N
C en t B r R y 1st g u g 4 s .1919 I’ -A
Cen B rancli U P ls tg 4 s .l9 4 > < J-D
Leroy & U V A L 1st g 5s 1926 J - J
P ac R of M o 1st ex g 4 s .1938 F-A
2d ex tended gold 5s. ..1938 J - J
S t L I r M & S g en con g 5sl931 A-O
G e n con stam p g td g 5s 1931 A-O
U n ifie d & ref gold 4 s ..1929 J - J
R rv <fc G D i r 1st g 4 s .. 1933 M-N
VerdJ V 1 & W is t g o s .1 9 2 6 M-S
M ob J ifc-K C 1st cons g 58-1953 J- J
M ob cfc O lno new gold 6 s ..1927 J-D
1st extension gold 6 s ../tl9 2 7
G e n era l gold 4 s ................19381M-s
M o n tg o m D iv 1st g 5 s ..194^ F-A
S t L & C airo coU g 4 s ..a l9 3 0 Q-F
G u aran te e d g 4s......... .1931 J-J
M & O colt 4s See S outhern
M o haw k & M a i See N V C <fc 11
M o nongahela R lv See B & O
M o n t C en t See S t P M & M
M o rg a n ’s La <fc T See S P Co
M orris <fc Essex See D ei L & Vi
ash Chat<fc S t L 1 s t 7 s .1913 J - J
1st consol gold 5s......... 1928 A-O
J a s p e r B ra n o li 1st g 6 s ..1923 J-J
M c M M W & A i 1st 6 s ..1917 J-J
T
P B ra n ch 1st 6 s ....1 9 1 7 J - J
N a sh F lo r <fc Slief See L & N
N a t of i le x prio r lie n 4*38.1926 J- J
1st consol 4s.....................1951 A-O
New H & D
to N i’ N H & H
N J J u n e R R See N Y C ent
N e w <£s C in B dge See L o u & N
N U A iN ' E prior lien r 6s p l9 1 5 A-O
N Y B k ln So M an Ben See L I
N Y C ent & H K iv g 3*28.1997 J- J
Registered..................... 1997 J - J
D eb en g 4 s.......................1934 M-N
L ake Shore coll g 3 *28 . . . 1998 F-A
R egistered ..................... 1998 F-A
M ic h C ent coll g 3*as___ 1998 F-A
R e g iste re d .....................1998 F-A
Beech Creek 1st g u g 4 s .1936 ,J -J
R e gistered............ ....... 1936 J- J
2d g u gold 5s................1936 J - J
B eeeliO r E x t 1 s t u 3*28&1951 A-O

M

N

Week’s
R a ny e or
L a st Sale

Price
F rid a y
Sept 27

B id
Ask. Low
H ig h
115 Sep ’07
.........117
111 ......... 111 *4 Sep ’07
96
CGVa 96
90
101*5, J ’l y ’06
107 D e c ’05
106 A u g ’07
.........106
94
95
94*4 Sep ’07
I l l ' s ....... 113 *a May’07
108*t>....... 109 M a r ’05
.........1-24
125 7s M ay ’07
122 4 M a r ’06
107*4 A ug ’06
117 M ay’07
110
62*3 A u g ’07
105
116 J ’ly MB
108*3 J a n ’i":
93 Sep ’ .
......... 92
108 J ’ l y ’(iH
87** *87*i 87*3 A p r ’O
113*3 M a r’O'.
112
111
97

107*3 .

J a n ’07
M ay’07
M ay’06

i’oo*i iof*)

97*3 A n g ’07
104 A p r ’05
101 S e p ’07

77*9 78*2
15
17
1 0 * * ....

78*3 S e p ’07
16
16*2
12 Sep ’07

100*2101*,

90®e J ’ly ’01
105 M ay’OO

130
M a r’07
105 A p r ’()7
118
J a n ’O.
113*4 M a r’05
103
A u g ’07
86
A u g ’O '
97 A p r ’06

107
90
96
93

98
102

99

J ’ne’07
J ’n e’O?

96
96
95*3
83
Sale
101
102 *s 101
79 Hi
79*v 79*3
84 7(
84 7& 84 7»
84 M ay’o7
85
104*3 J » a ’07
93 *v 95*2 A p r ’07
104
106 “2 M ay ’u7
101
102 A u g ’07
103*3 A n g ’O,
105 A u g ’07
lOO^t. 103*2 M a j ’07
117 116*4 116*.
100
99
100
107*2 F e b ’OH
.........
99 Sep ’07
86 A u g ’07
84
95*3 97*2 97 *2 M ay’07
90 J ’n e ’"7
92
90
Sale
90
9U
110 M a r’05
* 96 *2 : : : : : : 98 A u g ’07
ll6 * g M a r’07
109
109 Sale 109
109*3 J ’n e’O
83
84
•83
88
8s
88 Sale
107*2 A p r ’OH
98 D e c ’06
117*4......... 117 S e p ’07
122 D e o ’(>5
83 A n g ’07
108 *2 M ay’07
1 0 2 *a 106
92*2 A u g ’06
101 N o y ’04
95*4
8^8
lo l
78
8434
.........

Kanye
Since
J a n u a r y -7

3:?

U

F

110 113
111’, .......
109 .......
109 ‘4 .......
108 .......

114*2 A u g ’07
111 S e p ’07
116*2 M ay’Oi
117*4 M a r ’05
113 J ’l y ’04
89\ J ’ly ’07
78 Sep ’07

79*u.

88
89*2 8S34
89*4
87 >2......... 88 Sep ’07
93\ Sal**
93*2
94
798s Sale
79 •''a
80
78
80
79 Sep ’07
79
80
81)
80
80
8 134 J a n ’<i7
100 102 F e b ’07
102 M a r ’04

F-A
85 Sep ’07
F-A
87 A p r ’07
m -N
107 *2 O ct ’04
A-O
102*8 A p r ’06
J-J
95 A p r ’02
F-A *......... 52
52*2 Sep ’07
F-A
107*8 D e c ’04
J-D
107 M ay’97
J- J
105*2 Dec ’06
J- J
105 O c t ’00
J- J
”75"
73 F e b ’07
87 .......
J- J
39
89
A-O 103 ....... 100 J ’ne'07
J- J 101*4....... 101. Sep ’07
J-D
102 D e c ’03
F-A
100 F e b ’07
M-S
87*2 Sep ’o7
' 9 ‘i '
J- J
9 3 ‘v F e b ’07

* N o price F riday; latest bid and asked. a D u e J a n




Price
ir in a v
Sept 7

i o w H i an N Y C ent <fe H R —(C o n tin u e d i
Oart & A d 1st g u g 4 s ... 19*1 J-D
114*8 117
108 117-\
G o nv <fc Oswe 1st gu g 5 s 1942 J i>
M oil tfc M a i 1st <ru g 4 s .. 1991 M-S
95 101 \
n J j un o rt gu 1st 4 s ... 19.36 F A
1' <fe H a rle m g 3 *2 S... 2 0 0 0 M-N
i05 *3 109
N Y & N o r th 1st g 5 s ...1927 A-O
92 34 98
N Y <fc P u 1st con g u g 4s 1993 A-O
112 113*2
N o r <fc M o n t 1st gn g 5 s .1916 A O
Pine Oroek reg g ua r 68.1932 J-D
R W A O con lfite x t 5 s ./il9 2 2 A-O
O sw e & R 2d gu g 5 s ...e l9 1 5 F-A
R W & O T R 1st gu g 58.1918 M-N
R u tla n d 1st con g 4*2»..1941 J
117 120
Osr& LCham ls t g u 4 s g l9 4 8 J- J
82*a 72*2
Rut-Canad 1st g u g 4 s .194'. J- J
9 t Lv w <fc A d ir 1st g 5s.l9:>'> J - J
2 d cold 6 « ...................... 1 0 9 1 A-O
93
97=8
U tic a & B lk R l v g u g 4 s . 1022 J - J
80
92
Lak e Shore gold 3 *28 ....1 9 9 7 J-D
113*2 113*2
R e g iste re d ................. 1997 J-D
D e b e n ture g 4s............ 192S 11 - S
112 112
25-year g 4 s ................. 1931 M-N
10 'd** 111
K a A A G R le t gu c 5s. 1938! J - J
M alion C’l R R 1st 5 s ..1934 J - J
P itta cfc L E rie 2d g 5 s .a l9 2 8 A-O
P itts M c K & Y 1st gu 6 s. 1932 J - J
95*2 100S,
2d g u a r 6 s ...................... 1934 J - J
M cK ee s & B V 1st g 6 s 1918 J- J
100*4 103*2
M ic h C ent 1st consol 6 s .1909 M-S
5s......................................1931 M
R eg iste re d ..................1931
76
86
4s......................................1940
15
273,
R eg iste re d................. 1940 j -j
10
21
J L<fc S 1 st g 3*38 ...........1951 M S
1st g 3*28 .......................... 1952 M-N
B a t C & S tu r 1st g u g 3 s .1989 J-D
N Y C h ic < & S t L 1 st g 4 s 1937 A-O
R egistered..................... 1937 A-O
W e s t Shore 1st 4s g u . . . 2361 J - J
R eg istered..................... 2361 J- J
N Y & G ree nw L ake See E rie
130 130
N Y & H a r See N Y C & H u n
105 105
X Y L a ck * W See D L & W
118 118*2 S I L E 4 W
See E rie
N Y & Ixm g B r See C ent of N J
103 " i ’l0*2 N e w Y o rk N e w H a v A H a r t—
87
94
H o u s ato m c R con g 5 s .. 1937 M-N
N H & D e rb y con cy 5 s.l91 8 M-N
N Y * N o r th See N Y C 4 H
96
9
N Y O <fe W ref l s t g 4s..g'1992 M-S
02 1 0 2 **
R eg is $5,000 o n ly ......... g 1992 M-S
N Y & P u t See N Y C 4 H
94
9834 N Y & R B Set L o n g Isla n d
80
88
X Y S & W See E rie
100*3 105
N Y Tex <fc M See So P ac Co
79
86
N o r <Ss S o u th 1st g 5 s......... 1941 M-N
82
8 f i* N o rf & W e s t gen g 6 s....... 1031 M-N
82
87
lm p r o v e m ’t & e x t g 6 s ..l9 3 4 F-A
104*2 104*2
N e w R iv e r l s t g 6 s ....... 1932 A-O
95*3 95*2
N & W R y 1st con g 4 s .1996 A-O
!06*3 112
R eg iste re d..................... 1996 A-O
102 107*4
D i v ’l l 8tl<fc g e n g 4 s ... 1944 J - J
102
106*2
P ocah 0 & C jo in t 4 s .. 1941 J-D
04 105
C C & T 1st g u g 5s.........1922 J - J
103*3 107
Scio V & N E l e t g u g 4s 1989 M-N
115:*8 120
N o rth lU ln o is See C h i & N W
97*2 105
N o r th O h io See L E r ie & W
N o r Pac— P rio r lie n g 4 s .. 1997
J
9734 105
R e gistered..................... 1997 Q-J
86
90
G eneral lien gold 3s___ a2047 Q-F
97*3 98
R e g is te r e d ................. a2047
90
9634
S t P aul- D ul D iv g 4s___ 1990
90
9^*2
D ill S h o rt L I s t g u 5 s ..1916 M-S
C B & y coll t r 4s See G t N o r
98 ” i o i “4
S t P & N P gen g 6 s. ...1 9 2 3 F-A
116 117*4
R egistered certific’s ..l9 2 3 O-F
108 114
S t P a u l & D u l 1st 5 s ....1931 F-A
109*2110*4
2d 5 s ............................... 1917 A O
80
88 *f
1st consol gold 4 s .........1968 J-D
85
92*2
W a s h C en t 1st g 4 s ......... 1948
N o r Pac T er Co 1st g 6 s .. 1933
N o r R y C a l See So Pac
117 124
N o r W is S w C S t P M A O
N o r <fc M o n t See N Y C ent
83
94
/ 1 I nd & W Ste C C C & S t L
108*4 108*2 ' V liio R i v R R See B a lt & O
O re & C a l See So Pao Co
Ore R R <fe N a v See Un Pac
Ore S hort L in e See Un Pac
Osw ego <fc R om e See N Y C
O C F & S t P See C 4 N W
ac C oast Co 1st g 5s___ 1946 J-D
ac of M isso u ri See M o Pac
P anam a 1st s fu n d g 4 *28 . . 1917 A-O
114<Hs118»8 P en n R R 1st real e s tg 4 s .l9 2 3 M-N
111
116
Consol gold 5s..................1919 M S
Consol gold 4 s..................1943 M-N
116*2 116*2
C o n v ertible g 3*28...........1912 M-N
C o n v ertible g 3 *2 S...........1915 J-D
A lle g V a l gen g u g 4 s ...1 94 2 M-S
P8*4 102*4
D R R R < fc B g e l s t g u 4 s g . ’30 F-A
78*a 87*2
P h ila B a l & W 1st g 4 s .. 1943 M-N
Sod B a y <fc So 1st g 5 s ... 1924 .1 -J
S un So Le w is 1st g 4 s ...1 93 6 J- J
U N J R R <fc C an gen 48.1944 (VI-s
Penn Co— G u a r 1 s t g 4*33.1921 J- J
R egistered.....................1921 J- J
G u a r 3*as coll tru s t reg.1037 .M-S
S8
94°8
83
93
G u a r 3 *2 8 Coll tr ser B ...1 9 4 1 F-A
9;J
99
T r Co c e rtif’s g u g 3 *2 8 .1 9 1 6 M-N
79 >a 88*2
G u 3*-js tr ctfs <:..............1912 J -D
73
87
G . 3 *28 tr ctfs D .............. 1944 S O
G u a r 15-25 y a r g 4 s ___1931 A O
30
(-7*4
C l ite M a r 1st g u g 4 *38 . . 19351 .Vl-N
8 4 * 8 4 ’<
lOii 102*4
C 1 & P gen g u g 4 *2 » ser A . ’42 J-J
Series B ..........................1942 A-O
Sories C 3*28 ................. 1948 M-N
S eries D 3 *3 S................. 1950 F-A

J I 1 S C E L I ify t O U 8
C o a l m id I r o n
Col F & I Co gen s t g 5 s ..1943
C o n v e rtib le deb g 5s___ 1911
C ol Fuel Co gen gold 6 s. 1919
G r R iv Coal & C 1st g 6 sl91 9
C learf B it Coal 1st 8 1 4 s...1 9 4 0
C o l I n d u l 8t<fc coll 5s u u ..1934
C o n tin ’t a lC 1st s f g u 5 s g.1952
Je lt & C lear C & I l s t g 5 s .1926
Kan<& H C & C 1st s f g 5 s .l9 5 1
P leas V al Coal 1st g s f 5 s .1928
S u n d a y Cr-eK Co g a s ___ 1944
T e n n C oal gen 5e......... ...1 9 5 1
Tenn D iv 1st g 6 s....... « 1 9 i7
B ir m D iv 1st consol 6 s ..1917
C ali C iM Co 1st g u g 6 s. 1922
D e B a r C & 1 Co g u g 6 s .1910
Y a t r o n Coal <fcCol «t g 5a. 1949
V ic to r F u e l 1st s f 5 s .........1953

iH>S O,-.
N . Y. S T O C K E X C H A N ’f i E
W e k k E n d in 'g S e p t 27

b D u e i'e b

83
87

Jiiy h
K734 ........ 97 *2 Mar'O
.................... 105 oct'O U
......................l iO l V T ’ l v ’Oi
110 .........I llO *2 M ay'07

101*4 D e c ’06
137 N o v ’si
1 09 'f. Sep ’O
103 A u g ’O'

109

Range
§-~
xtv ce
< -c J a n u a r y 1
Low

97*2 97*3
110*2 I M

109‘e 1 14
103 103

106 *g OcC ’O
94 May'07
94 M ay’07
122 J a n ’Ot
103
1037t A u g ’06
94*4
94 '
>"
90
92 7« M a r’o?
89*3
89*2
89*2 Sai«89 34 Saie
8938
90
no
108
125 *2 M a r’06
103
107*aN ov’06
120
139 J a n ’Oii
118*3

H iy /l

95
95

floa* 96
927s 9-1
89*3 9 * *3
88
93 >4

110

104 D e e ’06
118*4 J ’l y ’06
119 J ’ne’06
10()34 J a n ’07
106*3 N o v ’OO
94*2 D e c ’06
92 *3 M ay’O

109
"»«*

99

100=4 Snle
99 *s Sale

Sep ’o
102*4 M a r’O
100*2 100 7(,
99 *2
99

113

124

94

96

100*4 100*4

92*3 94*3
9>*

98 *3 103*4

F e b ’Ob

9334
933<
101 *3 J ’ne’0 ‘

92

104 S e p ’06
>126*3 J ’ne’07
126
129 J ’ne’o7
129
127*4 O c t ’06
129
Sale
y4
94 *2 6 h
91 Sep ’07
91
85 Sep ’07
86 *3 .
85
86
86
109*3 F e u ’05
92 Sale
92
92
92

123
122

Sale
67
95

97 »8
99
H6 Sep ’07
67*3
68*2
70 M ay’o?
9 i >34 J a n ’O'.

114

116*3 116*2
132 J ’ly ’99
117*4 J ’l y ’<>7
106*2 May’07
98*2 O ct ’0 6
93 M ay’Oti
113=8 M a j’07

68 *s Sale

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

104
lu 2

102

lO l* *

, 100

99

110

I ii HH*

102*4 102*4
99 *3 105

105

105

105
1037.

1 02 * .T’l y ’07
103 7- J ’ly ’07
111>*3 Sep ’04
100 ........ 106 A n g ’O:
93
94 *a
94 Sale
8 8 s4
90
89*4 S alt
95*3....... . 99 J ’ne’o7
97*2....... .
107 H» O ct ’0
102 J a n ’o;

96
an
05*3

130
129
99*4
91
96**
91 *»
99 >3
102*4
102
74*4

70
71
95»4 95*4
116*3 122*4
I 17*» I .7^4
106*2 1 (H :,4

113‘-8 113

102

109

102\ 103
101 10 . ; 7
90 '4 1(‘ “ 4
87 *2 95
99
99

110*3 Sep
4 1101 lo 7
104*3 Sale 104 *2 10 V*.........103
lTC'h J ’l y ’07 ...1 0 1
105*4
83*4 ........ 90 *2 J ’n e’06
84 M ay ’O’,
81
8 6 -,8 ........
I
?‘
''i
94 J ’l y ’"7
j; 93*4 9 6
89 O ct ’(>«
" 8*5:,4 ,
82*1
90*2 Mai ’or.
97*3 J a n ’07
96
1,7 "*
110 .Jan ’oi>
103*4 A u g ’OIT
98*3 D e c ’05
96 J a n 04

liO M J .s — C o n tin u e :! on N e xt P a n e
100 *s

87

43*2 76*4

78
86
100
101

Week’s
Ranye or
Last s a le

78*2
95
106*2
106*2

i<‘o " J 0 6 ”
87*9 98
93*2 93*2

i'e le g r a p h tui«l T e le p h o n e
A m Telep & Tel eoll tr 4s 1929
Comm Cable Co 1st g 4 s ..2397
M et T <fc T 1st s f g 5 s ___ J 9 1 8
M i ch. S tate Telep. ; st 5 s . 1924
West U n ion col tr c u r 5s. 1938
F d a n d real est g 4*38 ...I 9 6 0
M u t U n T el s fu n d 6 s ...1911
N o rth w T el g u f 4 *28 g . . 1934
M a n u fa c t u r in g A I n d u s t r ia l

F-A
M-S
J-J
M-.\
M-N
J *J

78*8 J ’l y ’07
96*2 J 'n e ’oo
104 F e b ’O,
99 *2 97 F e ll’07
105 J ’i y ’o3
99 *v 98 A n g ’o?
• 9 2 ‘« 91
92 Sep ’07
104 A p r ’07
103 J ’i y ’04
.........

1 78 *« ! 0
t ii .4

93

98
91
101

104
93
103
10 *4
104
...........

93
87 V 87
5 83
87
O' '4
4 85
85 > 85
86
SI
7.)
82
79 J ’l y ’0
96 Jli '3
97 1 96 S e p ’l'7
96
8*; >3 ! iv 8 6 78 Sep ’07 ___ 86 h
83 95*4 1
*
102
101 *3 Sale 101
t;.r)*^ 4>- 6:1
64 ** 64 »4
o D u e a c t p D ue N ov q D ue Deo s O ptio n sals

A m Cot OU ext 4*38 ...........1915
A m H id e & L 1st s f g 6 s ..1919
A m e r Ic e S ecur deb g Gs.. 1925
A m S p irits M fg 1st g o s .. 1915.
A m T liread 1st col tr 4 a ...1 91 9
A in Tobacco 40-yr g 6 s ___ 1944
4s............ ............................1951

c D u e j l a r r fD u e .^ p r A D u e j ’ly « D u e A ug

J- J
0-J
1V1-N

Q-F
M-S
A-O
M-S
J-J
A-O
F A

85

8» p t.

26 1907.8

N . Y. ST O CK E X C H A N G E
W e e k E n d in g S k pt 27
P e n n Co—( C o n tin ued j
E r i e * P itts gug3Has B .1940
Series C .......................... 1040
G r R<fc I ex 1st g u g 4 H a s l9 4 l
P itt s F t W <fe C 1st 7 s ...1912
2 d 7 s ............................... 1912
3(1 7s......... . .................. ft-1912
P itts V& A sh 1st con 5 s .19:
P C C & S tE g U 4 *a S A . ..1 9 4 0
Series B g u a r................194:
S en e s C g u a r ................194:
Series I) 4s g u a r ...........1945
Series E 3*2 g uar g ___ 1949
Series F 4s g u a r .........1953
C S t E & P 1st con g 5 s .1932
P ensacola <fc A t l See E & N ash
Pee & E a st See C C C & St E
P eo
P e lt U n 1st g 6 s ___ 1921
2u gold 4*28 .....................t>1921
Pure M a rq— C h & YV M 5a 1921
M u itife P M g 6 s.............. 1920
. 1st consol gold 5s......... 1939
P t H u ro n D iv 1st g 5 s .1939
SagTusAs H l s t g l l g 4 s .1931
P h ii l i di W lice P e n n R R
Jt'luia <fc B eam ing cons 7 s .1911
P itts C m J s S t b See P e n n Co
P itt s C leve ifc T ol se t B ds O
P itts Kt W <fc CU See P enn Co
P u t s M cK ees & Y S e e ii Y Cei.
P itts Sh <fc E E 1st g 5 s ...1940
1st consol gold 5s............ 194a
P itts ci W est see B dr. O
f »eadin g Co gen g 4s....... 1997
J V Kagist.eretl.....................1997
Jersey C ent coll g 4 s ... 1951
R ensselaer * Sar See D & 11
R ich <t B an See South R y
R ich ifc M eek Sec Southern
lilo U r W est See Den & Kio G i
Koch <fc P itts See B li <fc P
Kouie W a t cfc O g seeN V Cent!
liu t ia n d See is Y C ent
w a « T us <fc H See Pere M arq
C 't J o
Isl 1st g 4 s ... 194~
i
S t L & Cairo See M o b <fc Olim|
St BAs Iro n M o u n t see M P
S t E K C di IS See W abash
S t E >1 Hr See T K it A of S t E
S t E o uis <&,San br an cisco—
G e neral gold Os................1931
G eneral gold 5s................1931
S t E <fc S F K B oqns g 4 s ..’90
S outh w D iv 1st g 5 s .. 194
R e lu u d m g g 4s............ 1951
6 -year gold notes 4 Hi.-lOOb
S t L M & So E a s t g u 4 Higl909
K C F t S dc M c o u g 0 s ..1928
K C fi t S dc M B y re! g 4s 1930
K C <fa M K & B 1st g u 5s. 19211
O z ’rk dfc Oil C 1 st g u 5s g.1913
S t E o uis So See Illin o is C ent
8 t E S W 1st g 4s bd ctt's.1989
iiit g 4s m e boml c tfs...j)1 9 8 9
Consol gold 4s................. 1932
G ra y ’s P t T e r l s t g u g 5 s 1U47
8 t P a u l ifc B u i Sea N o r P acitic
S t P a u l M & M a n 2d Os...1909
1st Consol gold Os............ 1933
R eg iste re d..................... 1933
R ed uced to gold 4 laS..1933
X iegistered.................1933
Dakota, ext gold Os......... 1910
fclont ex t 1st gold 4s___ 1937
K eg is tereil..................... 1937
E M in n le t d l v 1st g 5s. .190b
N o r D i r 1st gold 4s___ 1948
M in n U nion 1st g 6 s___ 1922
M o n t C 1st g u g Os......... 193?
R egistered.....................1937
le t g uar gold 5s...........1937
W i ll ifc S F 1st gold 5s.,193b
S t P & N o r P ac See N or Pao
S t P dc S’x C it y SeeC S t P M d tO
S A & A Pass 1st g u g i s . . . 1943
S F e Pres <te P h 1st g 6 s ...1942
S F & N P 1st s in k I g 58.1919
S av F & W est See A t l C oast L
Scioto V ai <fc N E See N o r 6c W
Seaboard A ir L in e g 4s ...1 9 5 0
C o ll t r re fu n d g 5 s .........1911
A tl- B irm 30-yrlst g 4 s.el9 33
O ar C en t 1st con g 4 s ... 1949
F la Cen <fc P en 1st g 5s.191b
1st la n d gr ex t g 5s ...1 9 3 0
C onsol gold 5s.............. 1943
G a <fc A la K y 1st con 5 so l9 4 5
G a C a r & N o l s t g u g S s 1929
Seab dfc Koa 1st 6 s...........1920
Slier Slir & So See M K & T
SU Sp Oca <fc G See A t l Coast E
8 0 Car & G a See Southern
S o u th ern Pacific Co—
G old 4s (Cen t P a c c o ll). fcl 949 J-D
R e g is te r e d ..................fcl949 J-D
C ent Pao 1st ref g u g 4s 1949 F-A
R egistered................... 1949 F-A
M o rt g u a r gold 3Ha3..fcl929 J-D
T h ro u g h S t L 1st g u 4s ’54 A-O
© ;il H a r & S A 1st g Os.. 1910 F-A
M ex & Pac 1st g 5s___ 1931 M-N
G ila V G <&N l s t g u g5s,1924 M-N
H o u s E <fc W T 1st g 5s. 1933 M-N
1st g u a r 5s re d .......... 1933 M-N
£ ib T C 1 s t g 5 s in t g u .,1 9 3 7 J - J
Consol g Os in t g u a r ...1 91 2 A-O
G e n gold 4s in t g u a r .. 1921 A-O
W a c o * N W d lv 1st g O s ’30 M-N
A & N W 1st gu g 5s-- 1941 J- J

New Y ork Bond Becord— Concluded— Page 4
Price
F r id a y
Sept 27

BONDS
N . Y . STOCK E X C H A N G E
W e e k E n d in g S e p t 27

Week's
Mange or
L ast Sale

Low
M ia h
92 A p r ’O'
9S34 A p t ’<>4
108 S e p ’0(5
12738 O ct ’():
119 J ’ne’06
119 A p r ’04
110 M a y ’05
107 ...
.........108
10 7 1» J ’ly ’0~
.........108
1 07l« J ’ly ’07
112 Hi J ’rie’05
100»i 1 0 0 J4 M a r ’07
81 .
91 F e b ’07

H ic t

A S )i

88

..

1 .0

.

104*3

103

107 *8 109 H;
!0 6 34 109*4

S e p ’07

123*8 J a n ’05
1 0 0 34 D e c ’O.i
109 A p r ’02
112 A u g ’07
100s4 A p r ’07
106 Hi Sep ’00

9a
91

10034
91

1 10

116H>

U U 34 115
1 0J34 10034

115 Hi M a r’06

120
98
93 ^ Sale
; . " " i " 9 1 ’^

80>a 90

1173<
100
77

S alt

M a r ’06
J ’l y ’9

93 Hi
94 k
95 34 M ay’U
91>»
91 ^

82

J ’ne'O'

90

11734 S e p ’07
100 Sep ’OVj
91 F e b ’07
102*4 A u g ’05
7034
78
98 N o v ’06
1*16 " A u g ’07
75
75

74 7e

91
»b\
90

96*a

9834
95\
96 Hi

92 \

11734 123H/
105*2 110 Hi
91
93

10

75

82*a

116
73

119
8234

96*2

96 Hi 97H,

89\* 89 *4 Sep ’07
......... 73 S. 79’» J ’l y ’07
7 0 Hi Sale
70
70H»
101*8 A p r ’07

89
95
77
83
70
79
101 8 10 I *6

103^.
1 2 Ji4 1

103
130

.....

105 >8 .
104 s !
101*4

.

112 .
m >2.
108*2 .

103*6 J ’n e’07
130 J ’n e’07
134 D e c ’00
105 Hj J ’ l y ’07
116*® A p r ’O l
104 Aug*07
97 S e p r0<
100*4 O ct '00
100 *a 1 0 j.s4

105*6
131

105 Hi 108 *a
107 >4
100 Hi

104

97

lu u - V lo i* *

124 M ay’07
125 A u g ’O'/
136*4
115 HjMay'07
115 \ Dec ’06

130

131 Hi

112

115*2

87
10S34

82>* .
102 .

83
102
110

83
102
O c t ’05

80
102

70 s* Sale
......... 96
......... 85

70
71
94*e Sep ’07
8 8 J a n ’07
if6 Hi M a r’06
107 *4 A u g ’06

8 >S

109Hj M W 0 5
1O0 M a r’07
110 J a n ’05
106 M ar'o7

106

1073»

106

106

107
10)
106

84
92*4
. ....
80 *8*4**
.
*8 6
. . . . . . 105s4
......
103 i*0*8 **
...... ......
. . . . . . .........
109»»111
110 Hi
8 8*2

65
82»t
943b 100 Hi
89

80
S I* .
84 J ’ne’07
92**
92
933* J ’ne’07
82*4 A u g ’07
90^4 J ’ne’07
103 Hi A p r ’07
105 J ’n e’07
106 "4 J ’lj- ’ 00
107*4 F eu ’or>
104 A u g ’00
111
111
1113* J a n ’07
90 se p ’07
116 D e c ’00
109 H) F e b ’06

81*a 90Hi
84
88
92 100 \
93^8 99
82*4 86
903« 98 *«
101 105 Hi
105 106*4

109 >4 111*2
1 11 1 1 2
90
947

S outhern Pac Co— (C o n tin u e d )
M o rg a n ’s E a ifc T 1st 7 s .1918 A-O
1st gold 6s.....................1920 J - J
N o of C al g u a r g 5s......... 1938 A-O
Ore & C al 1st g u a r 5s. 1927 J - J
So P o f A r g u l s t g 6 s ...e l909 J- J
1st g ua r g 6s.............. c l91 0 J - J
So P acific of C a l—
ls t g 6 s s e r ie s E & F ...1 9 1 2 A-O
1st gold 6 s.....................1912 A-O
1st con g u a r g 5s......... 1937 M-N
8 P ac of N M ex 1st g 6 s_. 1911 J- J
So P a c Coast l s t gu 4s g.1937 J - J
T e x & N O S a b D iv ls t g6 s.l9 1 2 M-S
C on gold 5s................... 1943 J - J
q P a c K B 1st re t 4 s.........1955 J- J
S o u th e rn —1st con g 5s___ 1994 J - J
R egistered.....................1994 J - J
Mobifc O hio c o l l t r g 4 s . . 1938 il-S
M e m D iv 1st g 4*2-58... 1996 J- J
S t E ouis d iv 1st g 4s___ 1951 J - J
A la Cen R 1st g 6s.........1918 J - J
A t l & D a n r 1st g 4s....... 1948 J - J
2d 48 ............................... 1948 J - J
A t l & Yad 1st g g u a r 4s. 1949 A-O
Col & G ree nv 1st Os....... 1916 J- J
E T V a & G a D iv g 5 s.. 1930 J - J
Con 1st gold 5s............ 1956 M-N
E Ten reor lien g 5s....... 1938 M-S
G a M id la n d 1st 3s.......... 1946 A-O
G a P a« B y 1st g 6s......... 1922 J- J
K n ox & O hio 1st g 6 s ... 1925 .T-J
•vfloO ite B ir prio r lieu g 5s 1945 J- J
M o rtg age gold 4s....... 1945 J - J
R ic h & D a n con g 6s___ 1915 J- J
D eb 5s stam ped............ 1927 A-O
R ich iS *M e ck 1st g 4 s ...1 94 8 M-N
So C ar do G a 1st g 5s___ 1919 M-N
V ir g in ia M id s e r C 6 8 ...1 9 1 0 M-S
Series D 4-5s................1921 VI-S
Series E 5s.....................1926 .VI-s
G e n era l 5s.....................1936 M-N
G u a r stam ped...........1936 vi-N
W O & W 1st cy g u 4 s ..1924 F-A
W'est N C 1st con g 6 s ..1914 J - J
S & M A la See E <S>N
Spok F alls * N o r 1st g 6s. 1939 J - J
I 'er A of S t E 1st g 4 *as..l939 A-O
1 1st con gold 5s___ 1894-1944 F-A
G e n re fun d s t g 48 .........1953 J-J
S t E M B ge T er g u g 5 s .1930 A-O
Tex & N O See So P a c Co
Tex & Pao 1st gold 5s....... 2000 J-D
2d gold in a 5s................. ^2000 M ar
Ea D iv B E 1st g 5s....... 1931 J - J
W M in W i N W ls t g u 5s ’30 F-A
Col & O C 1st g 5a.............. 1935 J - J
W e s tw u D iv 1st g 5 b ...1935 A-O
G e n e ra l gold 5s................1935 J-D
K a n ifc M 1st g u g 4s___ 1990 A-O
T o lP ifc W 1st gold 4 s .... 1917 J- J
TolStE<fc W p rlie n g 3 * 2 S .1 9 2 5 J - J
50-year gold 4 s................1950 A-O
Tor 11am & B utt 1st g 4 s ./il9 4 0 J- D
lster <fc .Del 1st con g 5s 1928 J-D
1st re fu n d g 4s...........1952 A-O
Un Pac R R & 1 gr g 4s ...1 9 4 7 J- J
R egistered..................... 1947 J - J
20-yr conv 4s (subscrip )..’27 J- J
Uce R y ite N a v con g 4«. 1946 J-D
Ore Short L in e 1 s tg '6».. 1922 F-A
1st consol g 5s.............. 1946 J - J
G u a r re fu n d 4 s............ 1929 J D
R e g iste re d ................. 1929 J-D
U ta h & N o r 1st 7s.........190a J- J
G o ld 5a............................1920 J - J
U n i N J R R <fc C Co see P a R R
LItah C en tral See R io G r Wes
U tah & N o r tli see U n Pacific
U tica ifc B la ck R See N Y c e n t
a nd alia consol g 4 s ___ 1955 F A
era C rU i;iSiP l8t.gu4H isl9o4 J - J
V er V al I n d & W See M o P
V ir g in ia M id See S o u th lev
V a <fc S o u th w ’ t 1st g u 5 s .2003 J-J
&basfc 1st gold 5s....... 1939 M-N
2d gold 6s................. 1939 F-A
D e b e n tu re series A ....... 1939 J - J
Series B .......................... 1939 J -J
Certificates of deposit___
1st lie n e q uip s fd g 6 s .. 1921 M - ' s
1st lie n tO y r g te rm 4 s .1954 J J
1st re f anil e x t g 4s ___ 1956 J - J
B e t & O h K x t 1st g 6 s ..1941 J - J
D e s M o in D iv 1st g 4 s ..1939 J- J
O ui D iv 1st g 3 H»8...........1941 A-O
T ol & C b D iv 1st g 4s. ..1941 M-S
S t Clias B ridg e 1st g Os. 1908 A-O
W a b P itts T erm 1st g 4s. 1954 J-D
2d gold i s ..........................1954 J-D’
W arre n See D ei Eac & W est
W ash C en t See N o r P ac
W ash O <fe W See Southern
W a sh T erm l 1st g u 3Hjs.. 1945 F-A
W est M a ry la nd 1st g 4 s ...1 95 2 A-O
G en & conv g 4 s ............ 1962 A-O
W Va C en t & P 1st g 6s 1911 J - J
W est N Y & P a 1st g 6 s .. 1937 J-J
G e n gold 3-4s................... 1943 A-O
In c o m e 5s.......................d l9 4 3 Nov
W est N o C ar See S o uth R y
W h e e l’g & E E 1st g 5 s ...1 92 6 A-O
W he el D iv 1st gold 5 s ..1928 J- J
E x te n & I m p gold 5 s ...1 9 3 0 F-A
R R 1st consol 4 s............. 1949 M-S
20-year e q u ip s f 5s ...1 9 2 2 J- J
Wrilkes & E a st See E rie
W il & S io u x F See S t P M & M
W is C en t 50-yr 1st gen 4s 1940

U

777

Price
tr id a v
Sept 27
H id
115
110

'2'=

Low
H ig h
127 Sep ’06
116 N o v ’06
112 F e b ’11
1003s J ' l y ’O
104 A p r ’O
104*4 F e b ’O ii

99

. 108
89
102

89 Hi
Sale

78
105
80

80
111
85
"89

Ji'ange
Since.
Ja n u a ry 1
Low

M ig k

1 12

112

107

107

98 101
11)3*2 104
i 04 *4 1043*

107 A p r ’O
114*2 D e c >0
116 M ay’ll
104 M a r ’O

116 116
103 n8 i0 4

107 Hi Feb 'O'?
104 Sep ’Ob'
i
89
-*« 103
I N o v ’OO
1 Sep ’07
I 1 3 12M ay'u7
84 Sep ’07
113 J h h ’OO
96 J ’ne’Oo
92 J ’ne’Od

107*2 1 0 7 4
87 J. 95 I
■100 11334
*79* * 9 4 "
113 Hi 116
0
94*4

111 F e b ’O
110*8 J ’ly ’0
112 Hi A u g ’ U?
110-2 J 'n e ’075
............68"
05 Sep ’0
114 A u g ’07
112
. 113
117’ M ay’07
n r» 3b A jir ’o t
96 O c t ’0
......... 89
10 9 ’4 A u g ’07
i o i ” ” " I 102*2 A u g ’07
18 F e b ’05
105 A u g ’07
1 0 4 '-4 i 0 6
112 O ct ’00
108 Hi Dec ’Ou
113 Dec ’Oi
107*6 May’DT
107 M ay’Oi*
90*2 96 J an ’t>7
10-JH, 106 H
110

H I
111
ll O sa 113
112 Hi 11734

111 *a 113

1 10 *21 1 4

65
69 *4
1 1 3 '4 119*4
13 6

1 1 8 34

109*4 11 a
102*4 103
104

100*8

106*2 1 11

107 110
94 -*4 9 6 Hi
106 '2 109 Hi

117 J ’l y ’00
ill
J ’l y ’07
i l l Hi J 'n e ’O
90 A u g ’07,
111 D e c ’Oil

I '*8 111
U l* 4 117
90
94

111
112*6
111 118*4
92 . N o v ’Ot
110 M a r’Ol
106 H2 N ov’04
10734 A u g ’ o'i
10734 111
111 M ay ’04
102 M a y V
io o *2 102 Hi
91 ^ May’ 0*3
90a4 97
90
83 A u g ’O
80
87
89
82
83 j
83
82
87 Hi
83 Hi 83
74 Sep ’07
73
73
76
82
95 D e o ’O^
1*10* ii*6 ‘ "
100 104 110 M a r’O'i
93 Sep ’Ot
9 7 -%
99 118 "90*4* io2*4
i‘8 ;,b Sale
9 o :i4 Sep ’07
9634 101*2
87
8 8 *t 27o7 84 ‘-j 93
81 \ Salt
95
2
9 3 34 99 >*
......... 96 Hi 94
115 Hj....... 115-2 HoH i
114*2 126
107 Hi Sep 'Ot
1 0 7 ‘4 114
107 °s 109
86
87
10 85 34 9434
86 V Sale
87!,4 M a t’o l
8734 o734
l0 3 H ii'e b ,0 J
103 103Hi
lOi.
105 Hi J^’ly ’07
101
LOoHi 105H»

10276 F e b ’Ot
98 Sep ’Ot

V

W

Week’s
R ange or
Last Sale

1 0 2 * 2 ........ 110 M ay’07
107 \
107 *2 S a it 10«
95 >4 95% a'5 Ha Sep ’O'
90 J" ’n e’O'
'
61 J ’ly ’o
I ! ” " 63*
62 J ’n e’O
102
.........102
93 M a i ’Oi
38
56
”56” *58*
104 Sep ’O'
97 Nov'o-i
80 h'eb’Oj
9 6 :,s J ’n e’O
io o M ay‘O'
100
69
67 ....... . 08 *2
18
-0
22*v 11
20 sole

.....

87 Hi J ’l y ’07,
84Hi . . . .
71 S e p ’Oi!
71
72
55
u5
52 H> 56
1O6 H; A u g ’O
.........106
110 112 H, 112 S e p ’07
89k4 J ’ne’07
......... 90
34 F e b '07

76

82

83

82

2*4

62'V 67 *a
104 109
80 * b O 'i
9038 96*3

100

102

65 ls 80
19
32 *8

87
09
50

8734
82*91
68

115*2
» 9 34 93 *a
34
34

111

105 A u g ’07
110 D e c ’00
1.11*2 A u g ’Oa
76 S e p ’07
102*4 D e c ’02

105 'a .

106 l l l H i
105 114
95 105 Hi
90 90
57 76 **
67 Hi 75
LOI 102

13

7u

87**

82

89

89

103

JO i

lo l

M 1 S C JE L J.A N E O U S B O fiD fS — C o n c lu d e d .
n iiu iu ln c t u r iu K
ln d u H triR lj
B e th Steel 1st ext g f 5 s .. 1926 J-J
C e n t i-eatlier 20-year g 58.1925 A-O
C uiisol Tobacco 50-yr g 4 s .1951 F-A
D is til se c Cor conv 1st g 5 s .’27 A-O
l u t P aper Co 1st eon g 68.1918 F-A
C onsol conv s f g 5s....... 1935 J- J
I n t S t P u m p 10-yr conv. 6 » ’13 J- J
K n ic k e r Ic e (C liic ) l s t g 5 s . ’28 A-O
LacU aw Steel 1st g 5 s___ 1923 A-O
N a t S tarch M tg Co 1st g 6 s 1920 M-N
N a t S tarch Co s f deb o s .. 1026 J - J
R e p u b l & S ls t & c o lt r 5 s .l9 3 4 A O
U a E e a tiiC o s f d e b g 6 8 ..1 9 1 3 M-N
U S R e a lt y * I conv deb g 5 s ’24 J - J
U S Steel Corp— < coup ,d l9 6 3 M-N
S I 10-60 y r 5s. \re g ,.(« 9 a :< m: NVa-Car Oht-m col tr i s g .,1 9 1 2 A-O
W e-itin^housc E & M a f 6 a ’31] J J

* *8*9*i
61
78
105H
87
97
96
.........
■104
77 S
9 1*4
::::::

M is c e lla n e o u s
A d a m s E x col tr g 4 s ......... 1948 M-S
95
89
89
96 A u g ’06
88
Sale
8 9 14
90 >4 85 88*4 99
A m SS Co Of W V a g 6 s___ 1920 M-N
IOO3* J ’n e ’02
Sale
B ’k l’n FerryC o 1st cons g 5s ’48 F-A
64
64
41 O c t ’06
5, 63*a 79
....... . 78
C hic Jc<fc S t Y a rd co lg o s .1 9 1 5 J - J
79
101 M a y O i
25;! 70
90
, 103
____ 105 A a g ’07 ___ 1 0 1 7b 108*2
D e tM & M Id gx in o o m e s ..l9 1 1 A-O
70 Sep ’06
87
87
Sale
I n t M ercan M a rin e 4H2S..1922 A-O
3| 87
92
6 3 “, Sale
63 *2
6 :i:,4
100
i n t N a v ig a tio n l s t s f 5 s .1922 F-A ......... 85
97 A * g ’07
97 106
85*2 J ’l y ’07
M a n B c h 11 & E g e n g 4 s ..1940 M-N
97HiOCt ’05
50 J?eb’02
Sale
94
Do
N e w p N e S h ip & D D os d l9 9 0 J - J
94 102
N Y D ock 60-yr le t g 4 s ..1951 F-A
88 > ' 8 8 Hi S e p ’b"
83 *a A u g ’07
82
84
70 A p r ’07
70
7o
P rov id en ce Seo deb 4s___ 1957 M-N
85 Sep ’07
80
85
92 Sep ’07
92
97
P ro v id e n t L o a n S o c 4 * u s.l9 2 1 M-S
99 M ay'00
93
......... I u:l *4 Sep ’07
10234 106*4 St Jo se p h S tk Y d s 1st 4 His.1930 J- J
100*2 sep ’05
_____ 77 Hi
S t h Ter C upp les S ta t’n & P ro p
77
96
77•*!
Sale
94 H»
96
9 0 Hi 9934
Co 1st £ 4h*» 6-20 y e a r..1917 J-D
112 J ’lj- ’04
'J6 *b
96
90
99*2 S Y u b a w a t Oo oon g 6 s ..1923 J - Ji
97
99
Sp V a l W a t W a rk s 1st 6s. 1900 M-S
U 3 »« J'Ur ’00
97 *a A u g ’1
t ______________________________________
t i 88 *»
S
R e f 1st s f g 68.1931
90 A _________
u g ’07
______________________________________________________________
91
8 ? 4 97*2 U

No price Friday; latent bid and asked U»s week,




li

a Dwe J « ti

b D u e Feb

d D ue A p r

( D i e M ay

g D a e J ’n a

h. D ue J 'ly

p Due N or

70s*
85**
87 Hi
84*a

80

96

(O p tio n Sato

UHACJAGrO 3I00K 5 X 0 3 4 ^1 v-~3tock Record—Daily. Weekly and Yearly
STOCKS— H IG H E S T A N D LO W E S T S A L E P R IC E S
Saturday
Sept 21
150 150
*234
3
131,
19
19
*212 3>.i
*14
16
47
47
*80
81
*
23
61
61
*
40
211*21
62
*58
80
*79
281 s
*28
* ___
94
* ___
32
*

4149
*135
*.
*60
* ___
*

*34
*47

*1
*5
*135
37
*104
*10412
124141

Monday
Sept 23

160 *150
*234
3
131- * --1812 19
1884
*21*212
314
*14
16
*14
4810 48U
47
*
80
*79
*
23 * 20
* ...
63
*581,
*
40 *
21
21
*211,
60
*58
*58
80
*79
80
28
28
*28
*90
*90
94
32 * ___
* ...
*150

*

*284

414;!8
48:i4
49l,i
1401r *139
125 *
61
60
103 * ___
36
104
50

Tuesday
Sept 24

*

*34
*45

414i2
49
*4812
140 * ____
123 *
6019 *6012
103 *100
36
104
50

* ____
*
*45

*1
H r *1
llR
*5
6
6
*5
140
140 *135 145
37
371- 3712 371"
108 108 *106
107
108 *1041- 106 *1041,
124:? 124 124U *123
41
4112 4114134

W ednesday
Sept 25

Friday
Sept 27

Sales
0/ the
Week
Shares

73
731, 733,
741,
1111- 111 1111,1 11112
*65
70
70 *
117 117 *114
115

371- *37
885«
88I 2
10314 1023.
135 *135
*9412
95
13s *114
9
10
241„ *23

40
39
42
40
881- *8812 89
8812
102% 1025s 10234 10234
132
139
95
95
95
*941,
11,
*114
13s
*114
9'8
S's
87& 93s
241- *23
241- *23

26U Ju ly ’07
800 N a tio n a l B is c u it_____ 100
74
731731,
I U I 4 110i2 i n
D o p r e f.................... 100
328
30 N a tio n a l C a rb o n _____ 100
70
70
70
10
D o p re f____________ 100
120 *11234 120
534
May’05
100
9!)l, Ju ly '06
40
289iSears-Roebuck c o m .. 100
41
42
*39
40
D o p r e f____________ 100
89
89
270!
881,
89
89
10284 10214 10212 102
1021,
673 S w ift & C o ____________ 100
135
158 The Q u a k e r O a ts C o . 100
135 *130 135 *130
100
D o p r e f . . . ___ _
100
*94
95
95
95
95
100 U n it B o x B d & P Co. 100
138
112
n 2 *114
112
9
938
D o p r e f____________ 100
93S
93S 3,735
91s
W estern S tone _____ 100
241,
Last Sale 241, Sep’07
M in in g
50
D aly - W e st____________
H lih h a rd - E lllo tt

May’07
Nov’06

Inter
est
Period

Price
Friday
Sept. 27

F - \
J - J

B id

Week's
Range or
Last Sale

Ask Low

B'ds
Sold

Range
jor year
1907

High No. Low
100

100
102
100
____
61

- .1 100 Sale
____
-D
- J I I I I ____
55
- D ____

4
100
100
100 May’07 ____
103 A pr’04 ____
55 A ug’07 ____

100
100

J
A
F
A
A
J

- J
-O
-A
-O
-O
- J

____
____

100 Sep’07 ____
100 Ju ly ’07 ____
963.) Ja n ’06 ____
____
____
87 Feb’06
ill"

100
100

J - J
M -N
M - S

M - S
Illin o is T un ne l 5s____ 1928 J - D
K a n C ity R y & L tC o 5s 1913 M - N
K u lc k ’b ’ker Ice 1st 5 s .1928 A - O
La k e Street E l—
1st 5s_______________1928 J - J
In co m e 5s___________ 1925 Feb
M e tr W Side E l—
1st 4s____ __ _______ 1938 F - A
E x te n sio n g 4s______19.38 J - J
N o r th C hic S t 1st 5 S ..1 9 0 9 J - J
1st 5s
1916 J - j
R e fu n d in g g 4 )4 s ..l9 3 1 A - O
N o C hic C lt y R y 4 K s l9 2 7 M - N
N o r th W estern E l—
1st 4s............
...1 9 1 1 M - S
O fd e n Gas 5s_________ 1945IM - N
Pearsons-Taft 5s______1916 J - I)
4.40s .............................. .. M - S
4.60s Series E ________ __ M - N
4.80s Series F ___________ M - N
P eo Gas L & C 1st 6s. .1943 A - O
R e m in d in g g 5s____ 1947 M - S
C hic Gas L & C 1st 5s 1937 J - J
C o n sum G as 1st 5s. 1936 J - D
M u t ’l F ue l Gas Is t5 s l9 4 7 M - N
S o u th Side E le v 4 H S .1 9 2 4 J - J
S w ift & Co 1st g 5s___ 1914 J - J
U n io n E l (L oop) 5 s . . . 1945 A - O
U n io n P acific conv 4 s .1911 M - N
U n ite d B ox B oard 6s______
W e s t C hic S t 1st 5s___ 1928 M - N
T u n n e l 1st 5s_______ 1909 F - A
D e b e n tu re 6s_______ 1914 J - D
Consol g 5s_________ 1936 M - N
W es D iv C lty R y 4 J4sl932 J - J
W estern S tone Co 5 s. .1909 A - O
N ote.— A ccrued Interest m u s t

____
....

100
100

98
____

High

100 Mch’07 ____

J
J
J
J

____

55

....

100
101
____
____
....

77
____
____

3
76176i2
79 Nov 04 ____
80 A p r’04 ____

7612 815r
____
____ ____

Sale
____
90*8 Sale
93

1
99
99
90 Dec’06 ____
1
961r
96l8
95 June’07 ____

99
____
95
95

10234
____
9814
96

90
____

90l2 Sep’07 ____
16 M ay’05 ____

88

933S
____

Sale
81
90

8
84l2
85
SI A ug’07 ____
90 Dec’06 ____

8412 907g
80 . 85
____

____
____

79 Aug’06 ____
75 Feb’07 ____

---99

85
80
____

893i Sale
____
91°r
____
94
....
____
96
____
98
____
____
9912
____ 100
____ 100
____ ____
t9734 Sale

....
____
____
____
---

8918934
90 A ug’07
1001,Mch’06
94 Sep’07
98 J u ly ’07
991- Sep’06
115i2J ’ne’07
100 A p r’07
100
100
101 A pr’07
103l2 Feb’06
9734
9734
997g Sep’07
9912
98195 A ug’07
114 N ov’04
73"
7114 Sep’07
80
90 May’07
681- Sep’05
____
73 Jun e ’07
73 Ju n e ’07
____
87 Dec’06
961- Ja n ’06
---

be ad d e d to all C hicago

?.()

|

Range for Previous Y ta t
(1906)

H Ighest

1

150

M ch 19 205 A p r 8
31' Mayl-i
5 J a n 24
13 F eb 15
16 A p r 6
15 M ch 14
461' J a n 2
2?g M a y l5
6 I4 A p r 3
1914 J a n 9
14 A p r 23
45 Sep 2C
65 J a n 16
791 Sep 27
87 J a n 17
21 Sep 12
28 J a n 24
60 Sep 14
72 J a n 15
3412 A p r 1C
47 J ’ly 16
20 Sep 11
251- J a n 25
58 A p r 24
66 J ’ly 17
90 J a n 4
75 M ch 14
34 J a n 15
28 M ch 25
99 M a y l8
95 A p r 3
20 M ch 19
35 A p r 3
4 I4 A u g 13

43
129
120
58
103
30
34
106
47
165

7U A p r 11
60 A p r 10
A u g 20
J a n 7 140l8 Sep 9
A u g 20 130 A p r 24
8012 J a n 14
A ug26
J ’ly 18 109 J a n 7
Jan 2
40 M ch 28
A p r 20
40 J ’ne 8
A p r 20 111 F e b 8
54 J a n 8
A u g 28
F eb 27 165 F eb 27

Lowest

i

Highest

140 Sep
5 Dec
15 Dec
393.1 J ’ly
4 J ly
121, M ay
541, J a n
85 O ct
25 O c t
651, O c t
25 Mch
23i2 J ’ly
60 M ay
891, A pr
27 M ay
97 Dec
23 A p r

Jan
7-" J a n
2838 J a n
59 M ay
13Vi Feb
461) M ch
681- Feb
9312 Feb
30 J ’ne
721- N o v
85 Mch
281- F eb
6812 Mch
99 J ’ne
3534 N o v
102 J ’ne
60 Feb

6 J ’ne
51 J ’lv
115 Feb
1281- Dec
54 J a n
101 J a n
17 F eb
36 J a n
106 O ct
55 M a y
16 Feb
1 M ch
6 N ov
136 J ’lv
4812 Dec
101 A p r
103 M ay
118 J ’ne
411, Sep

117« J a n
72 J a n
130 N o v
136 J a n
81 N o v
112 N o v
311,
40 Feb
1131, J ’ne
64 Feb
175
161- Feb
1 Mch
7 Jan
165 F eb
63 Feb
139 J a n
118 J a n
147 Feb
71^4 J a n

200

1 Jan 9
5 A ug 2 2
129 Mch 21
36 I4 Sep 26
105 A u g 20
IO2 I4 M ch 16
11912 J a n 24
39 A u g 17

1
61,
149
51
13411121,
129157

41 A u g 13
21- J a n 23
25 F e b 5
69 A u g 20
109U A u g 22
70 A p r 18
107 A p r 9

46 J a n 11
21, J a n 23
27 M ch 4
86 J a n 14
1I734 J a n 7
841.1 J a n 11
120 J a n 17

46
13,i
21
62
113178
112

M av
J ’ne
M ay
Jan
Jan
Dec

80 Feb
48
21, Feb
23 M ch
79l2 Dec
119 O c t
95 Mch
1221, M ch

34's A u g 28
88 A u g 19
i o n 2 M ch 15
132 Sep 25
95 Sep 20
1 Jan 2
6 Jan 2
221- J ’n e l2

57 J a n 10
95 J a n 26
11312 J a n 16
17312 M ay 3
10234 J a n 16
2i4 A p r 8
1234 A p r 8
30 F eb 14

887s J ’ly
50 A ug
921.1 N ov
IO II 4 J a n
115 M ay
99U Dec
*4 Dec
5I4 Dec
28 Dec

931631, Dec
99 Sep
11912 Sep
152l2 J a n
10634 F e b
234 J a n
1714 J a n
42 Alch

321- J a n 24

321- J a n 24

2934 J ’ne

16ij A p r 15

20

443 . Feb
141 j M ch
205s NOV

Jan 9
J ’ne 5
Apr 3
Feb 8
Apr 4
M a y l3
M a y l5
M ay 2

73, J ’ly
14U Mch
31- J ’ly

J a n 22

Chicago Banks and Trust Comoanies

Chicago Bond Record

A m e ric a n B iscu it 6 s . . 1910
A m e r S tr a w b ’d 1st 6 s .l9 1 1
Cass A ve & F G (St L ) —
5 s . . . ________________ 1912
C hic B oard of T rade 4sl927
C hic Consol B r& M lt 6s____
C hic Consol T rac 4>$s-1939
C hic E d is o n —
D eb en ture 6s_______ 1913
1st gold 5s________ ftl926
C hic A u d ito r iu m 1st 5sl929
C hic D o c k Co 1st 4 s ..1929
C hic N o Shore E lec 6 s .1912
C hic & M il E lec R y 5 s .1919
C hic P n e u m T ool—
1st 5 s . . . ............ ._ a l9 2 1
C hic R I & P R R 4 s ..2002
C o lla t T rust g 5s___ 1913
C o m m o n w e a lth E le c t—

Lowest

74
75
llH s 1103S
70
70
120 *113

16
4

BONDS
C H IC A G O S T O C K
EXCHANGE
Week ending Sept. 27

Range 1or Year
1907

ST O C K S
C H IC A G O S T O C K
EXCHANGE

R a ilro a d s
160 *150 160 *150 160
154
154
14 C hicago C ity R y ____ -10C
*234
3
Last Sale 3
C hicago & O a k P a rk _ 1 0 <
3
Sep’07
Last Sale 14
D o p r e f _________ 1 0 <
131, *
131June’07
171- 18117?s
18
2,296 C hicago S u b w a y ____ . 10 c i
18l2 181?
I 8JI4
T.asl Sale 31J u ly ’07
C hic U n io n T raction . 10 c
3*4
*212 314
16
*14
16
Last Sale 18
D o p r e f________ . 10(1
Ju ly ’07
252 K a n s C ity R y & L t . 10(1
481.)
48
48
50
4814 481.) *47
80
80
80
4C
D o p r e f___________ .1 0 0
80
*79
7912
791*
22
Last Sale 22
M e tropol W S E l e v . . .10(1
Sep’07
*59
62
153
D o p r e f___________ 10(1
60
*581, 63
61
61
40 *
40
N o r th C hicago Street .10(1
Last Sail 46
Ju ly ’07
22
*2114 22
*21
221- *21
22
25 N orthw estern E l e v . . . 10 c
60
Lasl Sale 60
60
D o p r e f . . _____ .10(1
*58
Scp’07
80
*79
80
*79
80
11 S o u th Side E le v a te d --100
*7912 80
281«
281375 Streets W S ta ble C L .1 00
28U *28
28l4 281.1 *28
*90
Last Sale 97
D o p r e f___ _______ .1 00
94
94
Ju ly ’07
32 *
Last Sale 33
32
W est C hicago S tre e t. .100
Ju ly ’07
M iscellaneous
41,
530 A m e rica n C a n _______ .100
43g
43s
43r
43g
4;% 43s
4334
540
D o p r e f___________ .100
49
48“4 4834 4334
4834 483.)
140 *
140
A m erican R a d ia t o r . .100
Last Sale 1401r Sep’07
D o p r e f___________ .100
Last Sale 120 Aug’07
123
123
410 A m e r S h ip b u ild in g .. .100
601, 611)
60
60
60
6OI4
100
D o p r e f_____ . .
Last Sale 103
103 *100 103
Sep’07
38
A pr’07
Last Sale 35
B o o th (A) & C o ____ 100
35
35 *
Sep’07
103 * __
103
Last Sale 1041- Sep’07
D o p r e f___________ 100
50
LaU Sale 47
C al & C hic C a na l & D 100
*45
50
Sep’07
100
165 Mcli’07
16
Mch’06
Last Sale 1
Ju ly ’07
C hic B rew ’g & M a lt ’g
H r *1
Hr
Last Sale 518
6
D o p r e f___________
*5
6
Aug’07
140 *135 140
20 C hicago E d i s o n . ___ 100
138 138 *135
140
3634
3634
38
132 C hic P n e u m a tic Tool 100
37
36 I4 3614
37
110
90 C hicago T e le p h o n e .. 100
108 108
107 107 *106
108
106 *1041, 106
C hic T itle & T r u s t .. 100
Last Sale 106
Sep’07
201 D ia m o n d M a tc h ____ 100
1241, 124 1241, *124 12412 124
124
413) *41
42
*40
42
*40
42
56 Illin o is B ric k _________ 100
100
3 II 4 Nov’05
100
80
Feb’06

73
731*
73
111 111
11U2
70
*65
70
*112U 115 *113
3712
8812
10284
135
* 941,
13r
10
*2212

Thursday
Sept 26

24
____
____
____
____
____
____
____
11
____
____

0

____
____
____
____
____
____
____
____
____
--bo n

____
75

____
75

89i2 92
90
95
____
94
97
98
98
____ ____
115U 1151100 10219912 10434
101 102
....
97*4 1001,
9978 102ls
95 100
____
65
75
85
90
____
73
73
70
78
____ ____
--- --d prlccs

NAM E.

Outstand
ing
Stock
t

Surplus
and
Pro/Us
T

Dividend Record
In
1905

in
1906

Per
iod.

Last Paid

8
Q-J July ’07. 2
8
B ankers N a t i o n a l _______ $2,000,000 S I.263,311
An. Dee ’06, 6
100,000
5
534,849
5
C a lu m e t N a t i o n a l _______
124,320
500.000
10
10
J-J 1July ’07. 5
C hicago C ity ______________
12
12
Q-J July ’07. 3
C om m ercia l N a t i o n a l ___ 03,00!) ,000 4,233,317
8
Q-J iJuly ’07. 2
8
C o n tin e n ta l N a t i o n a l ___ 4,009.000 3,065,021
f ',000
6
Q-J J u ly ’07. 112
6
9,777
C ook Co S ta te S a v in g s ..
12
Q-J July ’07. 3
12
C orn E x ch a n g e N a tio n a l 3,000,000 4,764,477
Q-J J u l y ’07. 11*
200,000
6
37,451
6
D rexel S ta te _____________
Q-J July ’07, 2
356.072
8
D rovers D e p N a tio n a l —
600,000
8
33,011 ____
3
Q-J iJuly ’07. 11*
E n g le w o o d S ta te ----- 200,000
500,000
F ederal N a tio n a l-----84,215 Began busine ss
Oct 16 1905
12
12
F irst N a t i o n a l --------- 8,000,000 7,459,753
Q-J J u l y ’07. 3
10
10 + 10 Q-J Oct ’07. 21*
150,000
F irst N a t E n g le w o o d ____
155,396
631,541
Priv ate Ba nk
F o re m a n Bros B ’k ’g C o .
500,000
6
6
386,439
F o rt D e a rb o rn N a tio n a l. 1,000,000
Q-J July ’07, 2
F-A July ’07. 2 lj
500,000
H a m ilto n N a tio n a l______
181,898
ID
1,500,000 1,123,683
8
H ib e rn ia n B ’k ’g A s s n —
Q-J July ’07. 2
107,770
200,000
K a s p a r S ta te B a n k ______
Q-F Aug ’07. 1
300,000
53.623
3
Monroe N a tio n a l________
Jan. Jan ’07. 412
250.000
77,396
M u tu a l B a n k ____________
Q-J July ’07, 2
6
6
N a t B a n k of R e p u b lic ___ 2,000.000 1,227,139
Feb 5 1907
1,500,000
384,392 Began busine ss
N a tio n a l C it y ____________
N a tio n a l L iv e S to c k ____ 1,000,000 1,388,398 12 + 3 12+3 Q-J July ’07, 3
Dec 8 1906
200,000
56,367 Began busine ss
N o r th A v e n u e S ta te ____
Q-J J u l y ’07. l l a
6
50.000
6,011
6
N o r th S ide S ta te S avings
Q-J J u l y ’07, l i 2
6
100,000
35,250
6
O a k la n d N a tio n a l----250,000
69,148
P ra irie N a tio n a l__________
Q-J July ’07. 2c
(138
c500,000
8
P rairie S ta te _____________
109,531
July 3 1906
250,000
15,019 Began busine ss
R a ilw a y E x c h a n g e ---Q-J July ’07. 11,
5
4
200,000
S o u th C hicago S a v in g s —
73,897
300,000
100,375 Orga nlzed Oct 12 1906
S e c u r i t y _________________
Q-J Ju ly ’07, 3
8
1,000,000 1,123,423
S ta te B a n k of C h ica g o —
8
150,239 None
250.000
S to c k Y a rd s S a v in g s --May 1 1905
42.316 Began busine
200.000
U n io n B a n k o f C h ic a g o ..
Q-J July ’07, 11*
6
56,997 None
200,000
U n io n S to c k Y a rd s S ta te
Q-J July ’07, 2
8
8
A m e ric a n T rust & S av g s . 3,000,000 2,513,137
7
51990,953
Q-J Ju ly ’07. 1*4
C e n tral T rust Co of 111___ 2,000,000
« 9 1,036 ____
u500,000
C hicago S av B k & T r --6
6
Q-J Oct 07. I l l
Chicago T itle & T ru s t___ 5,000,000 11,220,313
§6.198
50,000
Citizens T ru st & S av in gs
10
543.505 5+ 5
Q-J J u iy ’ 07.‘ 2'ij
•600,000
C olon ial T rust & S avings
78,340
6
6
Q-J July ’07, 11*
200,000
D rovers T ru s t & S avings
Orga nized Apri 13 1907
41,071
F a rw e ll T rust C o ________ 1,500,000
2,000,000 1,219,427
F irs t T rust & S a v in g s —
347,256 Began busine ss
Feb 4 "1907
H a rris T rust & S a v in g s .. 1,250,000
Q Aug '07. 1
Illin o is T rust & S a v in g s . 4,500,000 8,027,598 12 + 4 12+4
200.000
36,288
Q-J J u ly ’07, 11*
K en w o o d T rust & S av g s .
200,000
28,157
Lak e V ie w T rust & Savgs
Q-J Oct ’07. 1
12
12
Q-J J u ly ’07, 3
M e rchants’ L o a n & T r Co 3,000,000 4,462,542
750.000
355,601
6
6
Q-J J u l y ’07. 11*
M e tro p o lita n T rust & S av
1,500,000 1,812.053
Q-J J u l y ’07. 2
8
8
N o rth e rn T rust C o ----200,000
Orga nized July 28 1906
40,937
N o rth w e st T rust & Savgs
200,000
60,752
Peoples T rust & S a v in g s .
£700,000
185.701
8
8
P u llm a n T rust & Savings
Q-J Ju ly '07. 2
500,000
Q-F Aug ’07. 2
566,508
6
8
R o y a l T rust C o -------200,000
4,244 Incor porate d M arch 1905
S to c k m e n ’s T rust & S a v .
1,000,000 1.031,808
U n io n T rust C o ------315,084
6
W estern T rust & S avings 1,000,000
6+1 Q-J J u l y ’07. 11*
Sept 5 1905
200 000.
31,927 Began busine ss
W e s t Side T r & S av B a n k
200,0001
26,150
Q-J J u l y ’07. 11j
6
W o o d la w n T r& S av B k .

..

__

«...

__

__

__

-----

__
-- -

__

*
B id and asked prices; no sales were m a d e on th is d a y .
q D iv id e n d s are p a id Q-J. w ith ex tra p a y m e n ts Q-F. d In clu d e s special d iv id e n d of 30 /«
p a id D ec. 18 1906. t N o price F rid a y ; latest price th is week,
a D ue D ec. 31.
b D ue J u n e ,
c C iy jlta l Increased J a n . 1 1907 from $250,000. a c u n
d iv id e n d of 3 0 % being declared a n d to be tak e n as p a rt p a y m e n t for new stock,
b D ue J u ly ,
fc C a p ita l Increased from $300,000, a s to c k d iv ia e n a
of 33 1-3 % be ing declared In p a r t p a y m e n t therefor, n C a p ita l a n d surplus to be Increased.
o C a p ita l Increased fr~m $2,000,000 a n d $ 2 ,0 0 0 ,0 0 0 a a a e a
to surplus,
t A u g . 22 for n a tio n a l ba n k s a n d A u g . 20 1907 for S tate In s titu tio n s , except those designated by a ({ ., w hich are of M a y 20 a n a A ia y n
re spectiv e ly, x As o f J u ly 1 1907.




S e p t . 28 1907. j

THE CHRONICLE.

V o h n n e of •'usin sss a t S to c k d x c r a n g e s
TRAN SACT IO NS AT T H E N E W Y O R K STOCK E X C H A N G E
D A IL Y , W E E K L Y A N D Y E A R L Y .

Week ending
Sept. 27 1907

|
Stocks
i-------I Shires

Saturday .......... .......
Monday .................... 1
Tuesday...................._ !
Wednesday ________ ;
Thursday_____ _______
F rid a y ______________ 1

154,550
393,344!
313.101
283,050
415,005
582.720

Ra Uroad,
P ar value

Bonds

State
Bonds

$13,020,000
35.002.250
28.745,350
20.090.250
36,771,050
53,501,100

$971,000
1,808,000
791,200
1,541,300
1,297.700
1,375,500

$058,000
070.000
353.000
505.500
410.500
744,000)

V. S.

Ronds

$ 2 ,0 0 0 ;

Teiegr & T elephone j
cA m er Teleg & C a b le . 1001
eC entral & So Am er__100]
C o m m ’l U n Tel (N Y)_25'l
E m p & B ay S tate Tel 100
F r a n k l i n _____________ 100
eG old & Stock ic le g .1 00
H u d so n R iv e r Teieph 100
eN Y & N J T e ie p h ___ 100
eN orthw estern T elpg_.5 0
Pacific & A t la n t ic ______25
S o uthern & A t l a n t i c 25
F erry C om pan ie s

779
Bid
75
100
110
75
45
100
58
100
110
05
95

Ask
90
120

In d u s tria l a n d Miscel
C onsol R u b b e r T ir e ..1 00
Preferred _________ 100
D eb en ture 4s 1 95 1A & 0
Cons S te am sh ip Lines 100
C oll tr 4s 1957____(& J
Cons Storage B a t t ’y _ .li ) 0
eP refe rre d___ __
D ouglas C oppe r___
E c o n ’y L t & P (Jo lie t, 111)

i Exc list
07g
6%
62
62l2
1-2 124
3
3U
712 8 I4

§98 100
2,000 B ro o k ly n F erry stock 100
E lectric B o a t___
25
30
B & N Y 1st 0s 1911 J-J
P r e f e r r e d ___ _
80
85
N Y & E R F erry s tk .1 0 0
60
E lectric Vehicle2
8
T otal......................... 2,141.902 8194,390,000
$7.844,700l $3,353,0001
$4,000
1st 5s 1922_______ M-N
70
Preferred ____
3
10
N Y & H o b 5s M.ty'4'6 ,J-D
E m pire S teel___ 7
11
H o b F y 1st 5s 1946A1-N §100
50
Preferred ____
00
Week ending Sept. 27
Sales at
J a n . 1 io Sept. 27
N Y & N J 2d 5s 1 94(5..J-J §95
| n40
50
Neu> York Stock
10th & 23d Sts F e r r y .100
30
ePreferred
?170
80
Exchange
1907
1900
1900
1st m tge 5s 1 9 1 9 ..J-D §70
60
70
25
e P refe rre d_________ 1(
96 100
Stocks— No. shares__ | 2,141,902
0,611.783',
155.S13.103!
221,943,020 eU nion F erry s t o c k .. 100
e ls t 5s 1920............ M-N
85
G o ld H ill C oppe r________
1
1'4
Par v a lo e .................8194,396,600 $540,232,050 $13,444,492,975 $19,560,184,400
Greene C a n a n e a _______ 2
9
*8?8
Bank shares, par
$230,000
$397,100
Greene Con C oppe r____ 1
Short-Term Notes
Bonds
Greene Consol G o ld ___ 1
*H 8
1>2
Government bonds___
$4,000
$70.000
$537,300
$1,515,000
Greene Gold-Silver____ 1
Jl
*1
State bonds___________
1U
3,353,000
950,500
44,400.700
50,033,550 A m C lg ser A 4s ’ 1 1 ..M - S §89
88
Ser B 4s M ch 15 ’12M S §86
G u ggen he im E x p lo r’n 1(
140 170
R R . and misc. bo nds..
7.844,700
9.760,500
281,068,200
471,495,800
A m Tel & Tel g 5s ’10 J-J §90%! 97
eflac k en sa ck W a te r Co
A
tla
n
Coast
L
5s
’1
0
.M-S
§90?8
9714
92
§87
Total bo nd s.............I $11,201,7001 $10,781,000
$326,006,200
$529,044,350
Ches & O h io 6s J ’e 28 '08 §995s 997s
40
45
6s, J u ly 1 1 9 1 0 ____ J-J §9914 9912 H a v a n a Tobacco Co
8
11
D A IL Y TRANSACTIONS AT T H E BOSTON A N D P H IL A D E L P H IA
Ch R I & P a c 4 '4s ’08 A-O §9819 99ls
P re fe rre d ________
14
18
E X C H A N GES
C hic & W I n d 5s ’1 0 .F & A §973.i 9814
1st g 5s Ju n e 1 '2 2 . j- D
55
65
72
80
Hecker-Jones-Jewell M il
Cin H a m & D 4 ^ s ’08 M-S
9838
C
C
C
&
S
t
L
5s,
J
u
n
e
'11
§98ls
1st
6s
1922________
M
-f100 103
Philadelphia
Erie 6s, A p r 8 1908_______ §96
961o H e r’g-Hall-Mar, new .100
40
45
Week ending
_
In te r b R T g 4s 1908 M-N §96'-2 9714 H oboken L a n d & Im p lO O 200
Sept. 27 1907
Listed Unlisted
Rond
i Listed
Unlisted
Bond
e5s 1910___________M-N §98 103
5s M ch 1910_______ M-S! § 9 }i2 93
shares
shares
sales
shares ! shares
sales
K a n C So g 5s A p r ’1 2. J-J §94
5
9514 H ou ston O il_________ 100
7
P r e f e r r e d ___ ______ 100
35
25
Saturday____________ 10,272
7,005
12,284
$4,000
2,265
$27,000 L a c k Steel g 5s 1 9 0 9 .M-S §94*2 95I 4
5s g 1910___ ______M-S §9U- 92
H udson R e a lt y _______100 120 135
11.400
Monday_____________ 14.060
30.000
15,355
4,896
25,100
____
48
T uesday..................... 13,899
14,636
9,534
21,500
4,027
41,200 Lake S h & M So 5s’10 F-A §9S34 98's eln gersoll-R and com .1 0 0
ePreferred ________ 100
87
\
Y<dnesday__________ 11,080
5.409
42,000
11,928
1,931
58,000 L ou & N ash g 5s ’ 1 0 .M-S §981.1 981 •>
T hursday___________ 18,557
8,805
50,000
17,730.
2,576
20,100 M ich C ent 5s 1 9 1 0 ...F - A §9712 9734 ln te r n a t’1 B a n k ’g C o.1 00 125 135*
I n t ’n l M er M ar See S tk
97
E x c list
Friday______________ 2o,495
15,053
15,0001 15,138!
7,372
16,600 M in n & S t L g 5s ’1 1 .F-A §96
Mo P a c 5s Feb 10 ’08 F-A §99
90 105
9912 I n t e m a t ’l N ic k e l____ 100
Preferred _________ 100
80
85
Total....................... 97,503
162,500!
02,488 j
188,000 N a t of Mex 5s ’07opt A-O §9978 100l«
81,97oi
23,667
N Y C ent 5s 1 9 1 0 . '! . . F-A §98% 9878 In te r n a tio n a l S a lt ___ 100
1212 15
Penn Co gu 4 ^ s 1907M-N §9978 100t8
1st g 5s, 1951______A-O
47
53
Pa R R 5s M ch 15 ’ 10 M-S §973.1 98
In te r n a t ’ l S ilv er______100
8
5
S tL M S 'e ast. 4 y2s ’0 9 . J-D §93
P r e f e r r e d ____ _____100
60
94I 4
65
1st 6s 1948_________ J-D 104 107
S t L & S F e 4 H s ’0 8 .J-D §9512 90
L a c k a w a n n a S te e l___100
S o u th ’n coll tr 5s ’0 9 . A-O §94
96
40
45
A weekly review of Outside Market will be found on a preceding page.
S o uth R y g 5s 1 9 1 0 ..F-A §90
901- La n sto n M o n o ty p e ___ 20 *11
12
U S R u b b e r g 5s ’0 8 .M-S §9834 99 " Law yers’ M tge C o ____ 100 190 195
Street R a ilw a y s
Street R a ilw a y s
B id
Ask
,4sA: W a b a sh 5s, M ay 10 1909 §9334 943| eLeh & W llkes-B C oal 50
Bid
52
70
New York City
P u b Serv Corp N J (Con)
Lo rd & T a y lo r_______ 10J 125 135
W estln gh E l& M 6s 1910 §9934 100
Bleeck S t & F u l F stk .1 0 0
22
28
J C H o b & P a te rsn .1 0 0
30
W he el’l & L E 5s ’0 8.F - A §9534 96>2
Preferred _________ 100
90 100
e 1st m tge 4s 1950.J-J
78
85
64 *
4s g 1949_______M-N §61
eLoriUard ( P ) , p r e f. .1 0 0 125 150
e B ’y & 7 th Ave stk__100 180 210 ; So J Gas E1& Trac-100 112 115
M acltay C o m p a n ie s— See S tk E x llst
R a ilro a d
e 2d m tge 5s 1 9 1 4 ._ J-J
98 104
G u g 5s 1 9 5 3 ..-M-S §96
98
M adison Sq G a r d e n .. 100
2212
15
Con 5s 1943 See St ock E xc list
N o H u d Co R y 6 s ’ 14 J-J §100
Chic Peo & S t L p r e f .100
?d 6s 1919________ M-N
90
75
B ’w ay S u rf 1st 5s gu 1924 100 105
5s 1928_________ J-J §100
D eposited s to c k _______
e M an h a t B each C o ___ 10U
2
6
e C en t’l Crosst’n s tk _ .1 0 0 200 260
E x t 5s 1924____ M-N §100 ibss*
U n de poslted sto ck ____
*334
--- M a n h a tta n T ra n s it____ 20
4
e 1st m tge 0s 1 9 2 2 .M-N 105 115
P a t C ity con 6s ’31 _ J-D!§110 115
P rio r lien g 4 H s'3 0 M & S
Mex N a t C onstrue p f . l o o
90*
13
17
e Cen P k N & E R stk 100 140 105
2d 6 s ..1914 o p i A-O §100
____ M itch e ll M in in g _______ 10
Con m tg g 5s 1 9 3 0 .J & J
55
*11.1
13«
e C h i’t ’r & 10th S t stk 100 140 105 \
So Side E l (Chic)
See Ch icago list
In co m e 5s, J u ly 1 9 3 0 ..
M o nongahela R C o a l. .50 * ____
3
8
Col & 9 th A v e 5 -SeeStocli E x c list iSyracuse R T 5s ’4 6 .M & S §90 100
_
C hic S u b w a y _________ 100
Preferred ___________ 50 *27"
17
18~i"
D ry D E B & B —
;T rent P & H 5s 1943. J-D §98 100
F t W & D en Cy std - .lO O
90
100
M ortgage B o n d C o___ 100
90
95
e 1st gold 5s 1 9 3 2 .. J D
95 101
U n ite d R y s of S t L—
G t N o r th ’n O r e-See S tk Exc list
N a t B a n k o f C u b a ___100
97 104
e Scrip 5s 1914____ F-A
75
85
C om v o t tr c tfs____ 100
22
24
N a tio n a l S u re ty .- _ .- 1 0 0 155 170
N Y N H & H a rtfo rd E ig h th A ven ue s t o c k .100 300 350
e P r e f e r r e d ________ 100
00
62
Con deb 3 H s 1956 J & J
90
N e v ad a C ons’d C o p p e r .5
92
*9s8 934
e Scrip 0s 1914____ F-A
95 105
Gen 4s 1 9 3 4 ..See Stock Exc list.
334
N o r th ’n Securities S tu b s . 100 11212| N e v -U tah M in & b m . ,1 0
*3%
e 42d & G r S t F ’y stk .1 0 0 340 390
U n lt R y s San F ran See S tk Exc list
P itts Bess A L E _______ 50 *30
eNew C en tral C o a l____ 20
30
40
50
75
42d S t M & S t N A v e .100
W ash R y & E l C o___ :. 100
34io 36
N J Ter D ock & I m p .100
Preferred ___________ 50 *68
*7*3”
e 1st m tge 6s 1910.M -S §95 100
P r e f e r r e d ___ ______ 100
71U 7.3
:’R a llro a d Securities Co—
N Y B isc u it 6s 1911_iti-S foo" ’
e 2d incom e 0s 1915. j- J
68
73
4s 1951____________ J-D
79i- SOIN Y Mtge & S e c u rity . 100
111 C stk tr cfs ser A ’52
j eNew Y o rk D o c k ____ 100 180 1*9*0*"
Inter-M et— See S tk E x ch ange list je W est C hicago S t ___ 100
32 ‘ Seaboard C o m p a n y —
25
35
25
Lex A v & P a v F 5s See S tk Exc list
e Con g 5s 1936___ M-N
1st preferred_______ 100
e P refe rre d................ 100
5012 54
71
81
M etropol S t R y — See S tk Exc list
C om & 2d pref-See B alt E xc list
N Y T ra n s p o rta tio n ___ 20
*2
312
Gas Securities
N in th A ven ue s t o c k ..100 140 160
.Seaboard A ir L in e —
Niles-Bem-Pond c o m .1 0 0
95. 105
Second A ven ue s t o c k .100 100 160
New York
Col! 5s ex t M a y ’11 M-S
*078 7
N ipissin g M in es________ 5
90
e 1st m tge 5s 1909.M-N §96 100 jC ent U n G a s 5s g ’ 2 7 .J & J §93
97
n't
e O n tarlo S ilv e r_______ 100
4
Consol 5s 1948____ F-A §95
Con Gas (N Y ) — See S tk Exc l!st
98
O tis E le v a to r c o m ___ 100
in d u s tria l a n d Miscel
32
25
e S ix th A venue s to c k . 100 138 142
e M u tu a l G a s _________ 100 >1130 160
Preferred _________ 100
80
86
Sou B oulev 5s 1 9 4 5 ..J-J § 90
New A m sterd am Gas—
95
A hm e ek M in in g ___ ___ 25
P itts b u rg h B re w in g ___ 50 *27
70
27 I4
____
So Fer 1st 5s 1 9 1 9 ...A - O §97
1st consol 5s 1 9 4 8 ..J-J §80
88
A lliance R e a lt y _______100 110*" 120
Preferred ___________ 50 *47
47*4
T hird A v e n u e— See Stock Exc list
N Y & L R G a s 1st 5s’44 J-J §95 100
Allis-Chalm ers Co ls t.m tg
P itts b u rg h C oal.S ee S tk E x c list
T arry W P & M 5s 1928 §90
Consol 5s 1945____ J-J
95
§85
95
s f 5s '36 o p t ’1 0 . . . J - J §00
Pope M a n u fa c tu r in g - 100
62
>8
12
Y k e rs S tR R S s 1940 A-O §90
N Y & R ic h m o n d Gas 100
95
32
30
A m erica n B o o k ____ ..1 0 0
150
1st p r e fe rre d ...........100
160
50
25
28th & 29th Sts 1st 5s '9G §85
N 6r U n 1st 5s 1 9 2 7 ..M -N §90
93
98
A m erica n B rass_____ 100 113 118
2d preferred_______ 100
2
5
e T wenty-Third S t stk 100 330 355
e S ta n d a rd Gas c o m . . 100
70 100
eA m erlcan Can-See Stock E x c list
P r a tt & W h ltn p r e f . . 100
9') 101
U n io n R y 1st 5s 19-12 F-A §95 102
e P r e f e r r e d ________ 100 rc90 120
A m e rica n C hicle C o . . 100 155 105
R e a lty Assoc (B k ly n ) 100 132 138
W estchest 1st 5s ’43 J-J §90
1st 5s 1930________ M-N §100 105
95
R o y a l B a k P o w d pref 100
Preferred _________ 100
85
95
97 102
Brooklyn
Other C ities
A m G rap h o p h o n e com lOO
S afety Car H e a t & L t.1 0 0 120 130
40
50
A tla n Ave 5s 1909___ A-O §95 100
A m e r L ig h t & T r a c t .100
89
93
____ 70
Preferred
________ 100
Seneca M in in g __________25
00
____
Con 5s g 1931_____ A-O §99
Preferred
___ _____100
A m e r H a rd w a re ______100 119 125
Singer M fg C o ________ 100 380" 420
8312 86
B B & W E 5s 1 9 3 3 ..A-O
90 ____ B ay S tate G a s_________ 50
1.1 A m M a lt ln g 6s 1 9 1 4 ..J - D
S ta n d a rd C ordage___ 100
J8
93
97
1>2 212
B rook lyn C ity s to ck ___ 10 185 190 'B ln g h ’n Gas 5s ’3 8 .A & O §90 100
A m e r Press Assoc’n _ .1 0 0
1st M g 5s ’31 red.. A-O
95
100
32
35
Con 5s— See S tk Exch E x c list .B ro o k ly n U n io n Gas deb
A m Soda F o u n t c o m . 100
A d ju s t M 5s A p r 1 1931
1
434 6
J8
B k ln C rossi’n 5s 1 9 0 8 .J-J
99
6s 1909 conv 1 9 0 7 .M-S 100 105
98
____ 20
1st preferred_______ 100
S ta n d a rd C oupler comlOO
40
50
90 100 ; B uffalo C ity Gas stocklOO
B k n H gts 1st 5s 1941 A-O
8
2d preferred_______ 100
512
Preferred _________ 100 100 120
5
B k ln Q Co & S u b See S tk E xc list
1st 5s 1947— See Stock E x c list
A m S t F o u n d 0s ’35 A & O §88"
S ta n d a rd M illin g C o . . 100
92
4
7
B k ly n R a p T ra n — See S tk E x c list
Con Gas of N J 5s ’3 6 .J-J §87
93
A m erican S u re ty ______50 180 190
Preferred _________ 100
25
30
e Coney Is i & B k l y n . . 100 100 150
C onsum ers’ L H & P o w — •
A m erican T hread p r e f . . 5
*3^4
1st 5s 1930_______ M-N
4I 0
75
80
1st cons g 4s 1 9 4 8 ..J-J
5s 1938..................... J-D §100
75
85
A m T obac (new) c o m .1 0 0 230 245
S ta n d a rd O il of N J . . 1 0 0 442 449
B rk C & N 5s 1 9 3 9 .J-J 100
E lizab eth Gas L t C o . .1 00 275
A m e r T ypefders c o m .1 0 0
S w ift & Co-See B ost S tk E x c list
35
39
G r 'p t& L o rS t 1st 6 s .M & N 102 . . . .
Essex & H u d so n G a s .100 115 m '
1st 5s 1910-1914... J - J § 99 101
Preferred _________ 100
95
99
K in g s C E l 4s— See Stock E x c list
F ort W a y n e 6s 1 9 2 5 ..J- J
35
43
A m e r W r it in g P a p e r . 100
eTexas& P acific C o a l.100
75
85
1*2 2
Nassau Elec p re f____ 100
75
Gas & E l Bergen C o . .1 00
65
53
Preferred _________ 100
1st 0s 1908________ A-O §104
____
19
15
____ je G r R a p G 1st 5s '1 5 .F-A §90"
5s 1 9 4 4 ............... ..A - O 100
94
1st s f g 5s’19 o p ’09_J-J
T itle In s Co o f N Y . . . 1 0 0 150 100
80
82
1st 4s 1951— See Stock Exc list
H udson Co G a s_______ 100
95 100
B a rn ey & S m ith C a r .100
T o n o p ah M in (N evada) .1 *11
70
111*
____ In d ia n a N a t & 111 G as—
N W ’ b g & F la t 1st ex 4
95
P re fe rre d ___________100 125 140
T ren to n P otteries comlOO ____ 15
____
S te in w a y 1st 6s 1 9 2 2 .J-J §100
1st 6s 1908.............. M-N
10
20
e B e th l’m Steel C o rp ..1 0 0
Preferred, n e w ____ 100
12
14
80
90
Other C ities
In d ia n a p o lis G a s_____ 50
50
55
(.P refe rred_________ 100
T row D ire c to ry _______ 100
32
57
36
45
B uffalo Street R y —
1st g 5s 1952_______ A-O §90
95
Bliss C o m p a n y c o m . . 50 125 135
U n io n T ypew riter comlOO
75
80
ls tc o n s o l 5s 1 9 3 1 ..F - A §105- 106
Jack son Gas 5s g ’3 7 . A-O §90
98
Preferred ___________ 50 125 135
1st preferred_______ 100 108 112
D eb 0s 1917............ A-O §103
1K ansas C ity G a s _____ 100
50
B o n d & M tge G u a r ___ 100 320 335
2d preferred________ 100 108 112
C hicago C ity R y — See Ch Icago l i s t ' ie Laclede G a s ________ 100 n . .
‘90~ B o rd e n ’s C on d M i l k . . 100 150 160
U n ite d B k N ote C o r p . . 50 *52
55
C o lum b us (O) S t R y .1 0 0
j • e P r e f e r r e d ________ 100
95
99
75 100
Preferred ___________50 *48
103 106
49
Preferred _________ 100 105 107 iL a fa y ’eG as 1st 6s’24_M-N
40
43
*5”g 6
B ritis h C ol Copper
e U nlted C igar M fg,pf_1 00
80
90
C olum R y eou 5s— SeePhl la list
L o g & W a b V 1st 6s ’25 J-D
25
35
B u tte C o a litio n M in in g 15| *1514 10
U n ite d C o p p e r_______ 100
48
49
Crosst'wn 1st 5s ’33 J-D §100 104
M adison Gas 6s 1926. A-O §103 108
Casein Co of A m c o m .1 0 0
Preferred _______
2
3
781- 85
G ra n d R a p id s R y ____ 100
59
N ew ark G as 6s 1 9 4 4 ..Q - J §125 128
63
____ 75
Preferred __________100
U S C a s u a lty _________ 100 220 240
Preferred ................ 100
79
81
N ew ark Consol G a s . . 100
85
88
C a su a lty Co of A m e r .100 125 140
U S E nv elope c o m ___100
25
40
L a k e S t (Chic) E l— Sec Ch icago list
e Con g 5s 1948____ J-D 102 104
C ellu loid C o ...................100 120 130
eP refe rre d__________100
85
92
e L o u ls v S t 5s 1 9 3 0 .. J & J §102 104
N o H u dson L H & PowT—
C en t F irew orks c o m ..1 0 0
10
U S Steel C orp ora tion
15
L y n n & Bos 1st 5s ’24 J-D §100 102
5S 1938.............. . . . A - O §100
P referred _________ 100
60
Col tr s f 5s ’51 o p t ’11 §104 109
70
e New O rl R y s & L g t.1 0 0
17
14
e O & In d C N a t& Ill.iO O
C e n tral F o u n d r y ______100
21o
C ol tr s f 5s '51 n o t o p t §104 109
1
•e P r e fe r r e d ________ 100
401- 47 | 1st 6s 1 9 2 6 ............. J-D
2 2 ’ 2*8*’
Preferred _________ 100
U S T it G u & In d e n t.100
8
80
13
95
G en M g 4 s ’35 See S tk E x list P a t & Pas Gas& E lec.1 00
65
70
D e b 6s 1919 op ’ 01 M-N
e U ta h C opper Co-See S tk E x c list
60
70
N o rth C hic Street See Ch Icago list
e Con g 5s 1949___ M-S §98 101
C e n tu ry R e a lt y _______ 100 1S5 195
W a te rb u ry C o, c o m ..1 00
30
40
P u b Serv Corp of N J .1 0 0
95
S t Josep h Gas 5s 1937. J-J §80
86
C hesebrough M fg C o.1 00 400 430
Preferred __________100
--- 100
Tr ctfs 2 % to 0 % perpet
60
57
C ity In v e s tin g C o ____ 100
W estchester & B ro n x T it
50
95
C oll 5s g notes ’0 9 .M-N §9234 93 14
E lectric C om pa n ie s
____
eClaflln (H B ) , c o m ..1 00 100
& M tge G u a r _______ 100 102 108
N o r th Jersey S t R y 100
30
C hicago E dison Co S eeC h Icago list
____ W estern Ic e ___________100
e ls t p r e fe r re d ______100
90
28
30
1st 4s 1948..........M-N §60
65
e K in g s Co E l L & P C o 100 108 113
____ W e s tln g h A ir B ra k e ___ 50 *150 100
e2d preferred _______ 100
93
Cons T rac t o f N J . . 1 0 0
65
67
N arragan (Prov) E l C o .50 *x . . . 97
C ol & H o c k C oal & I p f 100 ____ 76
W e s t E l & M fg 5s-.
E x c list
1st 5s 1933..........J-I) §99 101
N Y & Q E l L & P o w C o .l0 0
35
45
1st g 5s 1917.......... .J - J §82
85
W h ite K n o b M i n . .
h
3«
N e w ’k P a s R y 5s ’30 J-J §103 106
Preferred _________ 100
50
57
C ol tr 6s O c t 1 9 5 6 ..J - J
97 10H2
1>4
l 1!
____ i U n ite d Elec of N J ___ 100
R a p id T ran S t R y .1 0 0 230
60
C onsol C ar H e a t i n g . . 100
30
105 112
36
1st 5s 1921______A-O §105
I'-t g 4s 1949..........J-D §63
*64’ " Cons R y L tg & R e frig _ 1 0 0
2
3>2
* Per share
§ B uy e r pays accrued In t. a Ex-rlghts. e Sel’s on S t. E x .. b u t n o t very activ e.
J New stock, n N o m in a l, s Sale price. z E x - d lv .




$1,000

Outside Securities

BOSTON STOGK EX0HA.NG-E—Stock Record, Daily, Weekly and Yearly
-----

--- .......................................................

S H A R E P R IC E S —-NOT P E R C E N T U M PR1 E S
Saturday
Sept 21

Monday
Sepl 23

Tuesday
Sept 24

Wednesday
Sepl 25

Thursday
Sept. 26

Friday
Sept■27

Sales
0] the
Week
Shares

-

- --- ----

S-^C K S
B O S ’!
> STOCK
E X C . 1A N G E

---■■

-------------------------------- i
Range 1<rr Year
1907

Lowest

|

Range 1or Previous Yeq
(1906)

Highest

R a ilro a d s
8734 88
88
88
83% Aug2C 107% J a n 7
*£ 8% 885S *8758 87%
86
86
274 A tc h T op & S a n ta Fe .1 0 0
8712 871
D o pref___________ .IOC
89 A u g 13 101% J a n 8
Last Salt 90
Sep’07
*89% 901- *89% 901, *89% 901* *8812 893
214 214
213 213
213 213
210 % 213
190 B oston & A lb a n y ___ .1 0 0 210% Sep 27 240 F e b 7
213 214
213 213
*129 130
129 129
129 129 *129 130
130 130
129
129%
144 B oston E le v a te d ____ 100 129 A ug24 152 J a n 2
* ____ 212
B oston & L o w e ll____ 100 200 J ’ne 19 231 J a n 7
*210
212 *210
. . . . ____
Last Sale 212
Sep’07
150 150
150 150
143 145
142
142
149 150
146 146
’ 540 B oston & M a i n e ____ 100 142 Sep 27 170 M a y 8
*
____
____
160 * ____ 158 * ____ 158
Last Sale 160
D o p re f___________ 100 158 M a y 4! 165 J a n 3
Aug’07
*
*
300
300
z297% 2971"
31 Boston & P rovidence .1 0 0 *2941- J ’n e 21 301 F eb 25
133j *10
*10
*10
15
14
14
* 16 ' *14’ *10
14
13
100 B oston S u b u rb a n E l Cos.
8 J ’ly 1
15 F eb 16
Last Sale 50
50 A u g 8
52
52
52
52
D o p re f___________
*48
*48
*48
*48
65 J a n 15
A ug’07
2884 J a n 2
18% 183S 183g 183s
1838 1838
18% ’ 850 B oston & W o r E lec Cos-.
18 Sep 11
18% 18%
18% 18%
18%
* ____
D o p re f________ .
70
*60
*60
*60
65
61 Sep 27
70 *
68
65
61
80 J a n 23
61
10
132 132 *133 134 *133 134
133 133
133 133 *134
135
92 C hic J u n e R y & U S Y .100 132 Sep 13 160 J a n 17
D o p re f___ __
100 ion Sen 5 120 J a n 2
Last Sale 109
Sep’07
Con & M o n t Olass 4 100 1841.1 ADr 25 188 F e b 13
Last Sale 184% Apr’07
C onn & Pass R iv n r p f 100 152 J ’ly 17 156 M ch 11
Last Sale 152 Ju ly ’Ci
Last Sale 245
Sep’07
C o n ne cticu t R i v e r . . 100 245 Sep 14 280 J a n 8
* ____ 125
124 125 * ____ 125
124% 124% 126 126
” §3 F itc h b u rg pref ______ 100 120 J ’n e is 135 J a n 9
* ____
80
Last Sale 79_” Sep’07
*73
*75
.. *73
78
78
G a R y & E le c tric ____ 100 675 J ’ne 1 114 M ch 22
D o p re f___________ 100
*1111 80 * ____
Last Sale 80
78% * ____
78% * ____
78%
Sep’07
80 Sep 6
88 M ch 7
190 190
20 M a in e C e n tra l. .
100 190 A u g 17 198 J a n 11
i l 2h
*1234 13% *123i 1334 *121* 13%
Last Sale 13% Sep’07
12 A u g 12
20% J a n 9
Mass E lec tric Cos____ 100
71% J a n 9
52
5 0 “ 50
50
50
D o p re f___________ 100
*51
51
51
49% ” S8
49% 497s
49%
49 Sep 14
___
*22
2584 J a n 2
193.i M ch 9
Last Sale 1934 Mch’07
M exican C e n tra l_____ 100
*16% 17% *16% 17%
152 155!.« 142 150
139 143
140
141
157 15814 155% 157
5‘ 087 N Y N H & H a rtfo rd . 100 139 Sep 26 190% J a n 2
N orthe rn N H
100 152 M ay 23 160 J a n 8
Last Sale 152 May’07
N orw ich & W n r nrpf 100 222 A p r 23 226 F eb 2
Last Sale 222
A pr’07
180 180
*179
180 180
*178%
" ” 2 O ld C o lo n y ___ _______ 10O 178 Sep 17 200% J a n 7
*178l2
5 J ’ly 31
Last Sale 8
52 J a n 16
Sep’07
Pere M a rq u e tte .
100
*27
30
30
Last Sale 30
________ 100
57 J a n 18
*27
*28
30
*28
30
Sep’07
D o p r e f.
?7 Sep 13
35
35
45 J a n 24
26 J ’ne 5
” 16 R u t la n d p re f.
100
* ____
94 J a n 21
80 * ____
80 * ____
80 ★____
80
Last Sale 82
82 A u g 7
A ug’07
S eattle E le c tric _______ 100
* ____
95 *
95 *
95
Last Sale 94
Sep’07
D o p re f____________ 100
95 * ____
93 A u g 20 103 J a n 7
132*4 132l.i 132% 132% 131 13158 130% 1301s 129% 13038 127% 128% 1,063 U n io n P a c if ic ________ 100 122 % A u g 14 1821* J a n 7
*8114 82%
D o p re f____________ 100
81
81
112
79% Sep 10
93 “ J a n 15
81% 81% *8114 82% *81% 82% *81% 82%
rl5 7
157
10 V e rm o n t & Mass
100 150% J ’ly 22 170 J a n 30
84% 84%
84 * ____
83% 83%
84
84%
84%
95 J a n 25
84
50
*8314 84%
39 W es t E n d S t ____ ____
83% Sep 24
* ____ 100 * ____ 100 * _ ___ 100 * ____ 100
Last Sale 100
D o pref____________ 50
Sep’07
99 J ’ne 28 110 M ch 4
Last Sale 140
Sep’07
W ore N a sh & R o c h _ . 100 140 A u g 28 147 J a n 15
M iscellaneous
26 J a n 8
Last Sale 1S% Sep '07
A m e r A g ric u l C h e m .. 100
15 J 'n e
80
79
79
D o p re f____________ 100
79
79
79
79
79%
79
79
79
78 J ’ne 10
95 F e b 7
7914 ’ 231
43j 1,956 A m e r P n e u S e rv ic e .. 50
1484 J a n 8
4%
4
41*
4
4%
4%
414
4%
4%
4'g
4%
4 Sep 11
1134 1134 *11% 1134 11
11% *11% ____
11
12
11
D o p re f____________ 50
11
10 Sep 16 33 J a n 8
636
113 113
114 114
112% 113% 112% 113% 111% 113
529 A m e r Sugar R e fin ____ 100 109 A u g 15 137% F e b 11
1135s 114
*117 119
117 117% 116-8 11714 *116 118
D o pref____________ 100 116 Sep 6 13134 J a n l(i
117
117% 118
I I 7 I4
146
107% 108
1077s 108% 10734 108% 10734 108
107% 107% 106% 107% 2,108 A m e r Telep & T eleg. 100 10334 A u g 12 1341* J a n 2
*22
3 6% J a n 7
2210 *211* 22% *21% 22% *21% 2214
Last Sale 21
Sep’07
A m erican W o o le n ____ 100
21 Sep 13
88
8734 881*
88
87% 88
88% 88% *863.1 8714
D o p re f________ ’___ 100
8534
87
85 A u g 13 1021* J a n 8
*359
41*
4 ‘ J a n 15
*3%
41*
41*
4%
Last Sale 3%
*3%
*3%
B oston L a n d _________ 10
*3%
Sep’07
3 M ch28
100% 100% 100% 101
*101% 1021* *101% 102% *100% 102% X100 100
” 26 C u m b e rl Telep & T e l. 100 *100 Sep 25 115 J a n 10
*21
1031 Mch2fi
211-’
25 F e b 19
Last Sale 22% Sep’07
D o m in io n Iro n & St
9 % J a n 3|
6
6
*5%
*5%
*5%
6
6
6
6
*5%
6
” 16 E a st B oston L a n d
6 Sep 4
*514
____ 205 206 *206
. . *205
*204
206 206
43 E d iso n E lec I l i u m ____ 100 200 A p r 12 230 J a n 7i
129 129
128 128
127 12834 128
129 129
128
192 General E le c tric _____ 100 120% A u g 26 162 J a n 24
127% 129
5234 53
*52% ____
52% 52% .52% 52% *52
52%
52
52
795 M assachusetts Gas Cos 100
49% A u g 26
665s J a n 16
81% 82
82
82
82
82
81
D o p re f____________ 100
8 II 4 "82
192
7934 Sep 4
86% A p r 20
81% 82
8 II 4
____ *203
____ 205 205 *20434
____
*203
*203
____ *204
5 M ergenthaler L in o ___ 100 199 J a n 2 215 M ch 1
* ____
2 * ____
134 * ____
2 * ____
2
2 * ..
434 J a n 19
13.1
134 Sep 9
10 M exican T elephone . . 10
* ____ 66 *111. 66 * ____
66 * ____ 6G
Last Sale 67
Sep’07
N E C o tto n Y a r n ____ 100
46 J ne 3
75 J ’ly 29
*
88 *
88 *
88 *
88
Last Sale 85
90 J a n 12
Sep’07
D o p re f____________ 100
84 May29
____ 109 109 *108
____
*108* ____ *i6$r ____ *108
____ *108
1 N E T elep hon e _______ 100 108 A u g 6 126 J a n 7
158% 158% 158 158% 158 158
158 158% 158 158 *157
158”
220 P u llm a n C o___________ 100 153 A u g 20 182 J a n 7
*934
9%
*934 10
9%
*9% 10
*934
11 J a n 10
9%
*978 10
x9% A p r 5
9%
3 Reece B u tto n - H o le .. 10
102% 103% *102 102% *102% 102% 102*4 102% *102 102% 102% 102%
131i S w ift & C o____________ 100 101 % A u g 20 113 J a n 16
21lo *21
*21
21% 21% *21
21% *21
21%
21% *21
21%
221* J a n 12
20 J 'ne 13
15 T o rrin g to n Class A ___ 25
*2573 26
____j
26
26
*26
. . . . *26
*26
____ *26
104
D o p re f____________ 25
24% M a y 8
27% J ’ly 26
*2
*2
214
2%
6% J a n 24
Last Sale 2
Sep’07
1% A u g 2
212 *2
U n io n Cop L ’d & M ’g-. 25
212 *2
115 115
115 115
115 115
115% 117 1115 115% 114% 114% 1.223! U n ite d F r u i t . . ............ 100 10334 M ch 11 117 Sep 6
40-3.1 403.
40% 40%
40
40
39
40
69 J a n 2
39% 39%
38%
38%! 1,456iU n Shoe M ach C o r n .. 25
38% Sep 27
25% 25%
25
29 J a n 4
25%
25
25
25% 25%
*25
25% . . _ ____
D o p re f____________ 25
695
24% A u g 15
29% 293S 2S% 29
50% J a n 7
28
28%
277s 28%
27% 28%
27% 10,111 U S Steel C o ro _______ 100
26% Sep 27
26%
92
92%
90% 00%
91% 92%
90% 91%
90% 90%
D o p re f____________ 100
88% Sep 27 10784 J a n 7
90% 2,490
88%
*5
6
*5
6
9 J a n 12
*5
6
5%
5
5
5%
5
621 W es t Telep & T e le g .. 100
5 I4
5 M ch25
____
*60
62
82 J a n 17
62 *- . - 70
*60
70 * ____ 70 * ____
70
D o pref:____________ 100
60 Sep 9
8
fiS
(IS
78% J a n is
63 Sep 27
35 W e s tin g E l & M f g ___ 50
►
Last Sale 76
D o p re f____________ 50
80 F e b 28
May’07
76 M a y 6
1
M in in g
*2
2% *2
2
2
2
2
*2
2%
2
61* F e b 20
2 J ’ne 5
»*
*1%
315 A d v e n tu re C o n _______ 25
30
74 % J a n 14
31
32
30
30
*30
30
30
30
*28
33
30
355 A llo u e z ------------- 25
30 S ep 12
59% 61*8
62
6134 62%
59
60% 61%
60% 61%
57%
60% 29,440 A m a lg a m a te d C opper 100
57% Sep 27 121 J a n 5
27
2634 27
27
....
27% 27% *27
*27
. . . . *2634 27
250 A m Z inc Le ad & S m __ 25
26% Sep 13
53 J a n 22
40% 40%
. . . . *39
....
....
38% 38% 38
38
25
3634 Sep 16
75 F eb 16
15
*4
4%
4
4
4%
153s J a n 16
4
4
4
4
4
25
3% Sep 13
414
415
4U
12% 12%
13
13
12% 12%
12
12
13% 13%
*1312
820 A riz o n a C o m m e rcia l. . 25
12 Sep 16 281* M a y 6
* ____
1 * ____
1
1
2 Jan 7
*%
1
.40
.50
*%
1
25
1,300
«2
.40 Sep 27
* ____
*
.
*
*
.
1
1
1
Last Sale %
1% J a n 9
1
Aug’07
25
I* May29
10% IOI4
9% 10%
978 *9% 10
9
9% 10
22 F e b 28
978
9l2 A u g 15
9% *534 A t la n t ic _______________ 25
6
534
6
5%
534
6
6
6
5% 5,915 B a la k la la te m p certfs.
12% A p r 4
5%
534
5%
5% Sep 26
9
9
37 J a n 14
9
9
9
9
9
9
834
440 B in g h a m C on M in & S "50
8% Sep 16
*884
9U
884
.40 * 3 5
* .35
.40 *.35
.45 *.35
.40
Last Sale .35
Sep’07
B o n a n z a (D e v C o )___ 10 .35 Sep 13 .80 J a n 17
1878 19
1834 1834 *18
33 % J a n 5
16%
181* 18%
18%
18
183s 19
16% Sep 12
2,485 B o sto n C o nC & G (rets) £1
1534 16
16U 163s
39 % J a n 7
1534 3,721 B u tte C o a litio n _______ 15
15% 16
1534 16%
15%
1534 16%
153* Sep 13
114 114
112 112
112 112
110 110
110 111
106
111
1,969 C a lu m e t & A r iz o n a .. 10 105 Sep 12 198 F e b 8
____ 625 630
*630
631 631
635 640
640 650
650
630
78j C a lum e t & H e c la ____ 25 600 Sep 13 1000 F eb 15
20
20
1934 1934
1934 1934 20
20
20
19% 19%
47 F e b 18
1912
540] C e n te n n ia l____________ 25
19 Sep 14
*.37
.40 *.37
.40
.40
.40 *.37
.40 * .37 .40
.38
.38
1 .35 M ch26 .52 J a n 19
1.750: Cons M ercur G o ld ____
60
59
58% 59%
59
58
58U 59
56
58
58% 5812
6,655 C opper R a n g e C on Co- 100
56 Sep 13 105 J a n 14
1234 1234
13
13
20% J a n 23
11
11% 12%
11
IU 2
11
2,070 D alv- W est ___________ 20
12% 13
11 Sep 26
1D o m in io n Coal
Last Sale 50
A ug’07
70io M ch 2
100
45 A u g 13
Allt?’07
QQ A HIT9*1 114 J a n 12
Last Sale OS
D o pref
100
4 % J a n 10
138 *118
1%
*114
138
1% A u g 14
1% *118
*1%
114
114
1*4
1*4 ”l35 E lm R iv e r ____________ 12
9%
29 % M ch 1
9
9%
93S
9
9
9
9
914
9
9
1.325 F r a n k lin _______________ 25
914
734 Sep 13
88
88
*80
88
*85
88
88
88
85
85
88
88
171 G ra a b y C o n so lid a te d . 100
85 Sep 13 151 F e b 8
934 10%
95s 10
93s
9
&5o Spn 97
175s A p r 8
9%
93g
934
9
9%
8%
15.093 Greene-Cana tern ctls51, J a n 11
3%
3i->
100 Gruanajuato Consol--.. * 5
234 A u g 16
15% 16%
15
15%
15% 1534 *15
16
*15% 15%
15
1,848 Isle R o y a le (C o p per). 25
36% J a n 14
14%
13% A u g 15
IOI4 10%
30 F e b 8
10% 10%
10
10%
a Sen 13
10
10
10% *10
10
10
1,398! L a Salle C opper
25
*3%
4
3%
3%
3%
4
720: Mass C on sol--------- 25
312
312
3% Sep 24
9% -{a n 10i
3>2
312
312
312
*1*
134 J a n 24
*%
34
Last Sale %
*%
Sep’07
M a y flo w e r____________ 25 .50 A p r 5
J4
*%
S4
34
15% J a n 24
9%
9%
9%
9%
934 1,440i M exico Cons M & S ___ 10
9%
9%
934
934
9%
934
8 S ep 13
9U
24 % J a n 15
9%
9%
9%
9%
9
9%
9% 10
9
9%
7601 M ic h ig a n _____________ 25
834 Sep 13
934 10
961, J a n 14
58% 59
58
58
57
59
57
57
55
56
55
50%
1,226; M o h a w k _______________ 25
501* Sep 27
3% M a y 7
2
2
2
2
2
*1%
2
2
1?8
178 *1%
750; M o n tan a Consol C & C 10 1 7-16 Sep 12
10
20 % J a n i6
*9
9%
9%
9%
978 ____ ____
*9
9%
9%
98* Sep 14
9%
6 10i N e v ad a C o n so lid a te d . 5
4814 52
49
48
50
50%
48% 49
45% 47% 19,277! N o r th B u t te -------- 15
4712 49%
45 Sep 12 120 J a n 5
10
2% J a n 4
1*
*%
1
1
1
.60
950 O ld C o lo n y ---------- 25
% Sep 20
«2
*%
%
12 .50
2534 26
63 F e b 14
25 " 25
24% 24%
24
24
23
24
24% 25
1.596 O ld D o m in io n ________ 25
23 Sep 10
*95
95
95
93
95
95
95
95
95
92
211
95
25
87 Sep 13 181 F e b 21
35 J a n 14
13% 13% *1234 13%
14
14
1234
13% 13%
13
13
13
12% Sep 13
297 P a rro t (S ilver & C opp) 10
*
1 *
*3 J a n 26
1 *
1 *
Last Sale 1
1
Aug’07 _
1 Jan 5
P h o e n ix C onsolidated 25
*82* 84
82
80
82
82
81
81
82%
81
82%
79 Sep 16 148 F eb e
79
378
20
3%
3
3%
*3%
3 Sep 23 *1234 J a n 15
3U
3
312
3%
771 R h o d e Is la n d _________ 25
312
312
3%
3%
*23g
2%
7% J a n 8
21*
2%
2%
2
212
2%
2
2%
1% Sep 27
1,993 S a n ta Fe (G o ld & Cop) 10
214
1%
10% 1034 10% 10%
10% 10%
103S 10%
24% J a n 17
1038 10%
10
9% Sep 17
10%
10% 2,089
66
70
68
68
67
67
*65
67
64
*65
66
60 Sep 13 170 J a n 14
63
131 T a m a r a c k ____________ 25
1414 15
14% 14*8
14%
1334 14
14
13% 1334
13
13% 1.877 T r i n i t y ..........-............. 25
42% J a n 24
11 Sep 10
TTnltpH P nnnpr
4 Mo Sen OP.
4834 48% *4814 49
77 % M ch 7
49
483s 48%
48%
100
79
79
....
801* 1.270!
79% 79%
73
84%
67 Mch25
91 M a y 1
80%
D o D tef____________ 100
*834
*834
9
9
834
834
9
9"
884 A u g 10
13% J a n 22
9>4 *834
7001 U n ite d S ta te sC o a l & O il 25
■;§*4 " 9”
3838 39
3634 3634 36
38i2 39
37
38
36% 2.5S2; U S S m e lt R e f & M in . 50
38% 39
70 J a n 2
3534 A u g 25
38
38
38
38
38
49 J a n 7
38
38
38
38
1.522!
37%
37% 38
37% Sep 17
D o p r e f .___________ 50
36% 37%
36
37
36
36
*353g 353[
79 J a n 14
357s 36%
34%
5
32 Sep 13
35% 2.987|Utah C o n so lid a te d —
434
410
*4%
5
434
434
5
*4%
5
*4%
5
4 Sep 17
320i V ic to r ia .......................... 25
4%
11% F e b 27
n oVi! « nrt o n
1 M ayl 1
Last Sale 1 0«l..Tnlv'07
310 M ch 6
25
6
6
*5%
6
6
6
6 I4
6
5%
6
5%
5%
5 A u g 29
14 " J a n 23
485’W i n o n a ___________.'___ 25
*123 125
122 124
122 125
122 122
122% 123
120
120
242: W o lv e r in e ____________ 25 118 Sen 12 198 F e b 11
* 90
1 * .DO
1 *.90
1
.95
.95
.90
.60
.90
.90
3% J a n 22
5551W y a n d o t _____________ 25
84 Sep 16
c Before pay’t of asscss’ts called In 1907.




* Bid and asked prices,

d New stock,

e Ass't paid,

h Ex-rights

a Ex-div. and rights,

Lowest

Highest

86 % J ’ly
*97% Dec
239
Dec
147 A u g
230 Dec
160 Dec
164 O c t
2991* Dec
13 N o v
63 J a n
26 J a n
721j J a n
156 O ct
117% J ’ly
1873< N nv
158 O ct
285 O c t
132 O ct
95 J a n
89 Dec
197 M ch
17 J a n
59% J a n
21% A u g
190 J ’ly
155 Sep
228 J ’ly
198 Dec
53 Sep
50 J a n
47% N ov
65 J a n
95 J a n
139% M ay
91 M ay
170 Sep
92 Dec
107 Sep
150 Feb

110% Sep
105% J a n
257ii Feb
160 J a n
246% A p r
180% A p r
1751* M a j
314% A p r
27% Feb
75 Feb
39% A p r
90 A p r
182 J a n
127 J a n
190 M ch
163 A p r
298 A p r
145 J a n
107 A p r
95 J a n
200 Dec
23 J ’ne
75 J ’ne
28 I4 Dec
207% J a n
163 Feb
233% M ch
210 " J a n
53% O c t
65 " O c t
64 J a n
99 O c t
106 Feb •
195 Sep
993t J a n
178 A p r
101 J a n
116% A p r
150% Feb

21 J ’ly
90 Dec
10% Dec
26 A ug
128 M ay
130 Dec
128 J ’ly
28 N ov
10034 Dec
33,-J a n
115 J ly
2134 N o v
5% J a n
225 Dec
157 Dec
44 M ay
84% Dec
190 M ch
3 Jan
27 Mch
80 M ch
126 Dec
ISO Dec
91* J a n
10184 J ’ne
22% Dec
25 J ’ly
2 J ’ne
103% M ay
x60i* Dec
28% Dec
323. J ’ly
99 J ne
8 N ov
79 N ov
753. O ct
75 N ov

34 J a n
102 J a n
29 M ch
46 A p r
156% J a n
141 J a n
144% J a n
4734 J a n
11034 Feb
4 !.. J ’ne
11884 M ch
34 A p r
10 A u g
250 . J a n
184 O c t
64-I4 J ’ne
90 Sep
210 Dec
5\j Sep
60 N o v
90% N o v
14i%. A p r
2681* N o v
11 D ec
120 Sep
23 Feb
27 U N o v
5 % Dec
11384 M ay
86% Feb
32% J ’ly
50% O c t
113% Feb
17I 0 J a n
981* J a n
86 ~ Feb
98 J a n

41* Dec
31 %
92 % J ’ly

8% A u g
57% M ay
2 % J ’ly

8% O c t
55 % Dec
118 Feb
<245 Dec
74 F eb
15% N o v

% J ’ne
.90 Sep
1034 M ay

2%
134 J ’ly
28% J a n

J ’ly
M ay
M ch
J iy
J ’iy
M ay
J iy
Dec
J iy
Mch
O ct
N ov
J ’ly
M ay
Dec

49% Feb
O ct
35% O c t
42 O c t
184 D ec
900 Dec
40% D ec
.70 J a n
86% J a n
211* N o v
84 ** Feb
122 M ch
31* D ec
26% Sep
140 Dec

J’ly

25
.45
20%
25
107
675
17%
.35
6684

14
61%
113
1%
14%
131

4% J a n
15% J ’ly

.90

7 ig J a n
293s J a n

6% J ’ly
12% J a n
.40 J ne
1U J a n
143J Dec
13 N ov
1034 J ne
221* Dec
54% Mch
85 ‘ Dec
1% Dec
71* Feb
11 J a n
23% O c t
743 . M ch 1171* O c t
70 J ’ly
2% Dec
6684 O c t
33 J ’ly
93 Mch 151 D ec
2234 J ’iy
48 J a n
2 % D ec
60 M ay
114 J a n
80 J ’ly
9 % Deo
3 % J ’ly
5% N ov
1% J ’ly
534 J a n
18% N o v
£0 J ’ne 122 J a n
20% Deo
73i J ’ne
£71 . \fAV
78 Feb
H I Feb
88 J a n
14% Mcfi
9 % Sep
66 J a n
51 Mch
47% Sep
43 Mch
6<>% J a n
52% J 'n e
9 % M cl
5% N ov
2 i» Deo
60 J a n
li>i* O c t
4 J ’ly
190 De«
131 J a n
284 Deo
.70 J ’ly

h Ex-stotk dividend .

Boston Bond Record.

S e p t . 28 1907.]
B O N J> »
B O S T O N S T O C K E X C H ’G E
W e e k E n d i n g S e p t 27
A m B e ll T elephone 4s___ 1908
A m T elep <&T el coll tr 48.1929
A m W r it P a per 1st s 15s g 1919
A tc h ds N e b ra s k a 1st 7s. .1908
A ten Tot) <fe S Fe Ren g 4 s .. 1995
A d ju s tm e n t g 4s___ J ’ly 1995;
S ta m p e d ................J ’ly 1995
B oston E le c t L ig h t 1st 6s. 1908
Consol 5s.......................... 1924
B oston <6 L ow e ll 4s...........1916
Boston
M a in e 4 ^ 8 ......... 1944
B oston T e rm in al 1st 3*2S. 1947
B u r <fc M o R iv ex 6s...........1918
Non-exem pt 6 s................1918
S in k in g fu n d 48.............. 1910i
B u tte <fc B oston 1st 6s___ 1917
Oedar R a p & M o R 1st 7 s .1916
2d 7 s ...................................1909
C en t V erm t 1st g 4 s ..M a y l9 2 0 '
0 B & Q Io w a D i r 1st 5s. 1919
Io w a D iv 1st 4 s .............. 1919
D eb en ture 5s................... 1913
D en v er E x te n 4s............ 1922
N e brask a E x te n 4 s ....... 1927
B <fc S W s f 4s..................1921
Illin o is D iv 3*28 .............. 1949
J o i n t bond3 See G t N o rth e rn
Ohio j o K y <fc S tk Y d s 5s .1915
C oll tru s t r e fu n d in g g 4 sl94 0
Oh M il & S t P D u b D 6 s.. 1920
C h M <fc S t P W18 V d iv 6 sl92 0
C hic <» N o M ie n 1st g u 5s. 193 1
C hic & W M ic h gen o s ....1921
C oncord & M o n t cons 4 s .. 1920
C o n n <fc Pass R 1st g 4 s ...1 94 3
C u r re n t R iv e r 1st 5s.........1927
D e t G r R a p <& W 1st 4 s ... 1946
D o m in io n Coal 1st 8 f 5 s ..1940
F itc h b u rg 6 s ....................... 190."
4 s ....................................... 1915
< ts....................................... 1927
F re m t E lk & M o V l s t 6 s.. 1933
U n stam p e d 1st 6s...........1933
G t N o r C B <fc Q coll tr 4s 1921
R egistered 4s................... 1921

Price
F r id a y
Sept 27
J- J
J- J
J- J
M-S
A-O
Nov
M-N
M-S
M.S
J- J
J-.T
F-A
J- J
J- J
J- J
A-0
M-N
J-I)
Q-F
A-O
A-O
M-N
F-A
M-N
M-S
J- J
J-J
A-O
J -J
J- J
M-N
J-D
J-I)
A-O
A-O
A-O
M-N
M-N
M-S
M-S
A-O
A-O
J- J
li-J

B id
98

Week’ s
R a nge or
L a st Sale

R ange
Since
Jan ua ry 1

ASK Low
H ig h
Salts
9?34
98
80
80\>
........
H* 1 Sep ’07
104 M a r ’(!6
90's Sep ’07
93
....... T187“s M ay’07
.......
85% J ’n e ’07

80

96
87
84

110 F e b ’04
101 S e p ’06
114 M a r ’(J6
112*2 J a n ’03
li>5»4 J ’l y ’07
102 Sep ’05
9938 001 ’06
100 J ’n e’01
123 ** N o v ’06
111 Js J ’ly ’Of.
83 Sep ’07
109 M ay’05
9934 J ’n e’07
T1001* M ay’07
9 7 7g J ’ue’07
102 7f, J ’ne’06
97*2M ay’o7
90*2 M ay’07

83

101

101 Sep ’07
90
90
122 A p r ’06
126 F e b ’05
......... 98*2 97 V; J ’l y ’07
......... 99 . lOOVt J ’ly ’07
99
M a r ’07
112*4 J a n ’03
104 N o v ’06
89 M a r ’07
93 A.ug’07
98 A p r ’07
103*8 A p i ’06
100 M ay’07
128 S e p ’07
140 A p r ’06
92 *2 isaie
91*2
92*4
9 1 »*....... . 91*4 H93
90

781

BOND*
B O S T O N S T O C i. E X C H 'G E
W

eek

E

n d in g

Price
F r id a y
Sept 27

S e p t 27

Low H ig h
96*4 983^
79
90*4
1181 1i83

Illin o is Steel deben 5s___ 1910 J- J
N on-convertdeben o s ... 1913 A-O
la F a lls cfeSioux C is t 7 s.. 1917 A-O
K a n C C lin & S p r 1st 5s .. . 192."> A-O
94*4 11013,. K a n C F t S & G u lf 1st 7 s.. 1908 J-D
K a n C F t S co tt & M 6 s. . . . 1928 M-N
TJ87»» 92
85»» 91a4 K a n C M & B gen 4 s...........1934 M-S
A ssented incom e 5s....... 1934 M-S
K a n C tfc M R y <fc B r 1st 5sl92 9 A-O
M a in e C ent cons 1st 7 s ...1912 A-O
Cons 1st 4 s .......................1912 A-O
M arq H o u g h & O n t 1 st 6 s .1925 A-O
105^4 107*8 M e xican C e n tra l cons 4 s ..191] J - J
Is tc o n s in c 3 s ...........J a n 1939 J ’ly
2d cons inc 3s...........J a n 1939
M id i T e le p ls t 5 s ............... 1917
M in n e G en E lec con g 5s 1929 j - j
N e w E n g Cot Y a rn 5s___ 1929 F-A
N ew E n g T eleph 6s...........1908 A-O
82 *2 90
5 s ........................................1915 A-O
5s......................................... 1910 A-O
98*8 100*.;
1100*81100*8 N e w E n g la n d cons g 5 s... 1945 J - J
B oston T erm 1st 4 s....... 1939 A-O
9 7 '8 99\
N Y N H & H c o n deb 3 s.sl95«’> J - J
'9 7 4 "97*2 O ld C olony gold 4 s ............ 1924 F-A
90*8 91 Hi O reg R y & N a v con g 4 8.. 1946 J-D
O reg S li L in e 1st g 6s....... 1922 F-A
100 102 *s R e p u b V alle y 1st s f 6 s ... 1919 J - J
R u tla n d 1st con gen 4*28.1941 J- J
90
95
R utlan d - C an ad ian 1 st 4s 194 9 J - J
S a v a n n a h E lec 1st cons 5s. 1952 J-J
S eattle E lec 1st g 5s.........1930 F-A
97 *2 100
T erre H a u te E lec g os___ 1929 J-J
100*2 102
T o rrin g to n 1st g 5s...........1918 M-6
99
99
U n io n Pac R R < f c lg r g 4 s .l9 4 7 J - J
20-year conv 4 s................1927 J - J
89
90
U n ite d F r u it conv gen 5s. 1911 M-S
U S Steel Corp 10-60 y r 5s. 1963 M-N
93 100
W est E n d Street R y 4s___ 1915 F-A
98
98
G old 4*28 ............................1914 M-S
G o ld deD enture 4 s...........1916 M-N
i b o ” ib o "
Gold 4 b ............................... 1917 F-A
128 128
W estern T eleph <fc T el 5s. 1932 J- J
88*4 97*4 W isc o n s in C e n t 1st gen 4 sl94 9 J - J
W isc o n s in V alle y lsu 7 s ..1909 J- J
90 78 96

N o t e —B uy er pays accrued in te re st in a d d itio n to the purch ase price for a ll B oston B onds.

97^8 ■

97*8

1'eek's
Lan ge or
Last Sale

R a ng e
Since
Jan ua ry 1

Low
H ig h
98 *2 J ’l y ’((7
97 *u Sep ’0 7
122 *4 N o v ’OH
98 M ay ’07
100*2 A ug ’o ;
115
115.
94 *a D e c ’06
89 sep ’O'
9;i M ay’o7
|113 N o v ’06
101*4 Sep ’ 05
118 M ay’04
76% Sep ’07
26*2 O ct ’00
1734 A u g ’05

Low H ig h
98*2 ''8Vi
97 10034
S»8’ 98 *4
100*8 loO *2
114
120
92

101

1f7638 85 *a

102 *2 A « g ’04
96*2 Sep ’07
100 M a r ’u7
100*8 J a n ’07

9034 Sale

87

94*2 100*8
99*2 100
100*8 100*8

9034
90
101*2 Sep ’06
^1027g J a n ’05
112138 M a r ’06
102 A u g ’<>7
107*2 N o v ’On
102 M a i’02
98*2 M ay’06
98 Sep ’07
97 A p r ’07
99*2 N ov’06
99» b J ’l y ’07
U87*2 1187
115
1 lo
1193*4 Sep ’07
100 '2 J a n ’07
i o i 34 A p r ’Oi
1023g J a n 06
99 Hi M ay’o7
88 sep ’07
1194*2 Sep ’05
109 «8 A u g ’05

* N o price F r id a y ; la te st bid a n d asked.

9 o 34 10634

98
97

105
97

ibV)‘\»[‘io 2
1187 *21187*4
107 i 15
1:9-7e *99 78
100 *2 100 *«
101 :>, 102
99 \ 10U *a
86
99

1i F la t price.

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h a re P rices—Not P e r Centum P rice s
S a tu rd a y
Sept 2 1

M o n d ay
Sept 23

89
*11

89
13

12*8 12*8

Tuesday
Sept 24

89
89
‘ 11*2 15

Wednesaay
Sept 25

*83
*11

90
13

>11*4 12

*47
48
30*8 30*4
9
9

*47
43
30*4 30*2
9
9

47
30
9

19
6*2
85
6034

*534
b*2
‘ 88
85
60*4 6034

•6 34
6*«
*83
85
60
60*4

* 5 7s 6
84
81*2
69*2 60 **

19
* 5 34
18

18

60*4 60»s,
60*4 6 0 4
•3 9 *2 40
39*4 39*4
7*2 7 34
7»8 T\
20>* 2 1 88
20*4 22*4
487i u48l8i0 481ia 4 8 38
*38*2 4 0 ‘s *38*a 40 “2
*38*a 40
*38*2 40*2
61
52
61
6134
85*2 86*4
85*2 86

60*8
•3 9
7*2
•7 » ia
2 0 a4 21
203s
48l ie 4S** 4716ia
40*» 40*8 *38 *2
•38*2 40*2 *33 Si
51 7g 6 1 7b
61*2
85*4 86*8
85 "s
60*4

*39

>11

47*2
30 ^
9

89

609i«
40
7»16
20V
4S7ia
40*2
40 Sj
5 1 s4

8534

*47
43
*46
29*2 29 78' 29
9
91ie
9*10
-4
‘ 17
*5:»4 6
84*2 84*2
84*4
69*2 60
59*2

6

1

1

5 9 7s
‘ 39
7*18
193*
47
*38*2
*38*2
51*2
JJSV

60*4
40
7*ie
20*4
48 S>
40*2
40*2
51*-.
85®*

61*2
45

15
65
88*2

63
” 4*6*2
87
4

10 3*

Bonds
A1 V a l E ex t 7a 1910 A-O
A lt & L V E le c 4 *28 ’ 3 3 .F-A
A m R y s conv 5s 1911. J-D
62
A t l C ity 1st 5s g ’1 9 .M-N
B alls Ter 1st 5s 1926. J-D
B e r g & E B rw 1st 6s’21 J-J
B e th le Steel 6s 199 8.Q-F
C h o c * M e 1 s t5s 1949 J-J
C h O k & G gen 5 s ’19 J-J
Col S t R y 1st con 5s 1932
46
C o n T r a c o fN J 1st 5 s .'33
E & A 1st M 5s 1920 M-N
E lec & Peo T r stk tr ctfs
E q I I Gas-L 1st g 5s 1928
H & B Top con 5s ’25 A-O
In d ia n a p o lis R y 4 s .1933
20*4 In te rs ta te 4s 1943 ..F -A
157» L e h ig h N a v 4*28 ’14.Q-J
6
R R s 4s g ....... 1914.Q-F
G en M 4 *28 g. 1924.Q-F
Le h V C 1st 5s g ’3 3 .. J-J
Leh V ext 4s 1st 1948. J-D
16
56**
2d 7s 1910................M-S
Consol 6s 1923....... J-I)
A n n u ity 6s.............. J-D
G e n cons 4s 2 0 0 3 .M-N
L e h V T ran con 4s ’33 J-D
N e w C on Gas 5s 1948 J-D
N e w a rk Pass con os 1930
N Y P h & N o 1st 4s ’39 J-J
In c o m e 4s 1 9 3 9 ...M-N
N oO liioT rac con5s’ 19.J-J
P e n n gen 6s r 191 0.. V a r
C onsol 58 r 1 9 1 9 ... V ar
P e n n <fc M d Steel con 6s
P a <fc N Y C an 6s ’39.A-O
C on 4s 1939............ A-O
11
P e n n Steel 1st 5 s ’17 M-N
P eople’s T r t r certs 4s ’43
P Co lst<fc col tr 5s’49 M-S
46
C on& col t r 5s 1951M-N
7*2 P h il Elec gold tr u s t ctfs.
T rust certifs 4s..............
P Ac E gen M 5 g ’20. A-O
G e n M 4s g 1 9 2 0 ..A<feO

* B id and asked; no sales on th is d a y . «; Ex-rights.




.........

89

1B18

5934
*39
*7*2
187g
46*8
*38*2

•38
50*2
85*8

B a lt im o r e
Con. Gas E l. L . & P o w .1 0 0
D o p re f................... 100
84 N o rth e rn C e n t r a l......... 50
Seaboard (n e w ).............. 100:
D o 2d p r e f............ 100
' ib o U n ite d R y & E le c tr ic .. 50

P h ila d e lp h ia
47
4 A m e rica n R a ilw a y s ___ 50
29 V 3 ,2 1 0 C a m bria S te e l................ 50
995 E lec tric Co of A m e rica 10
9*8
G en A s p h a lt tr c t l s ___ 100
■'i'2'5
D o pref tr c t f s ___ 100
35 Lake S upe rior C o rp ___ 100
43 L e n ig h O & N a v tr ctfs. 50
84*4
60 4 1,234 L e h ig h V a lle y ................ 50
700 M arsden Co..................... 100
1B10
60ije 2,446 P e n n s y lv an ia H R ......... 50
40
10 P h ila d e lp ’aCo ( P it ts b ). 50
7*s 4,56i* P h ila d e lp h ia E le c tric * . 2o
19*2 12,747 P h ila R a p id T r a n s it d .. 50
47*18 42,149 R e a d in g ...1 ................... 50
40
8
D o 1st p re f............ 50
40
D o 2 d p i e f .............. 50
50 ^ i',343 U n io n Tract-on.............. 50
e o :*8 4,o67 U n ite d Gas I m p t ........... 50
W elsbach C o ..................100
P H IL A D E L P H IA

P H IL A D E L P H IA

P H IL A D E L P H IA
i n a c t i v e S to c k s
A lle g h e n y V a l p r e f___ 50
A m e rica n C e m e n t....... 50
A m e r P ip e M fg .........100
B e ll T elep hone............ 50
C am bria i r o n ................50
C e n tral Coal & C oke. 100
Consol T rac of N J . . . 1 0 0
D iam on d S ta te S te e l.. 10
P r e fe r r e d ................... 10
E a sto n Con E le c tric b.50
E lec Storage B a tt___ 100
P re fe r re d ................. 100
F t W a y n e & W V ....... 100
G e rm a n to w n P ass....... 50
In d ia n a p o lis S t ...........100
I n d ia n a U n io n T r ___ 100
In s u ra n c e Co of N A . . 10
In t e r Sm P o w & Chem .50
K eystone T elephone ..5 0
P re fe r re d ................... 60
K eystone W atcliC ase. 100
L it Brothers..-.............. 10
L ittle S c h u y lk ill...........50
M in e h ill <fc S c h u y l H ..5 0
N H a v e n Ir o n <fc S te e l.5
N o rth e rn C e n tra l.........50
N o r th P e n n s y lv a n ia ..5 o
P e n n s y lv an ia S a lt....... 50
P e n n s y lv a n ia S te e l.. 100
P re fe r re d ................. 100
P h ila Co (P itts ) p r e f...60
P h il G e r m a n * N o r r is .50
P h ila T ra c tio n ..............50
R a ilw a y s G e n e ra l....... 10
S usqu eh Ir o n <fc S te e l..5
T idew ater S te e l.......... 10
P r e fe r r e d ................... 10
Tonopah M in in g of N e v l
U n io n T r ot I n d .........lo o
U n ite d N J H R <fe 0 . . 10t)
U n it T rac P itts p r e f..50
W a rw ic k Ir o n * S te e l.10
W est Jersey <fe S e a S h .5 0
W estm oreland C o a l....5 u
W ilk e s Gas <fc E le c . .1 0 0

60*2
40
7\

Sept 26

Sales
A C T IV E S T O C K S
ot the
Week CFor B onds a n d in ac tiv e
Stocks see below)
Shares

it'riday
Sept 27

'11*4 ’ 12 U

*47
48
3 0 7g 3 0 7s
9*8 9*8

*83
60»4

2 'hursd ay

114
107 *4
101*2

101*2
91

91*4

1 05 *2

57

83
57*2

io i* s
104*2
9 3 34

60

146
94 **
60

107
97

103

101

||$7.50 paid,

95
97
67

96
97 *i
67S
102*2

B id

Mange lo r Year
1907
H ighest
33*2 J a n 15
80 May 29
86 M a r 14
13 J ’ly 8
28 J ’ne27
10 *2 M a r 12

35 J a n 9
85 J a n 10
97 J a n 20
23*4 J a n 7
48 J a n 7
15 J ’ne27

Range tor Previous
Year (1 9 0 6 )
Lowest

35 *2 Dec 41 J ’ne
80 Oct 90 J ’ne
97 J ’ly 11 1*4 Deo
22 Dec 32 .Ian
48 Dec. 62 '2 J a n
13 Dec 19 J a n

46 V. Sep 12 61 J a n 2 50 *4 Sep 54 J a n
28*4 A u g 13 47 *i J a n 24 3034 J a n 3 9 ^ N ov
11:% J a n 14 11 Mas 12 78 Nov
4 M ay 1si 8 J an 25
6 Nov 14 J an
19 M a y 2 1 36 J a n 25 31 Dec 48 J a n
5 j4 Sep 12 16 J a n 8 14*2 Nov- 2334 J a n
78 M a r 14 103 J a n 7 100 Dec 118 J a n
5234 A u g I 0 787B J a n 5 65 May 86 J ’ne
34 Sep 12
2 *q J a n
1716 Oct 31*10 J a n
570ie A u g lS 70**18 J a n 8 61«8 J ’ly 7311le J a n
38 Sep 14 4 8 14 J a n 4 47 A p r a54 ‘•j .Mar
7*2 M a r i 4
9 Apt 4
6*8 Dec 93ib O ct
51434 se p 6 326*8May 6 cl 9*4 Dec {34*4 J a n
42“X6 A u g 15 69 J a n 7 56*4 May 83 J a n
40 May24 45;*8 J a n 14 43*8 A p r 47i6i8 J a n
36 *2 A u g l5 47 J a n 14 4478 May 51 J a n
44 Sep 12 60% J a n 22 53*8 Dec 65 A u g
80*2 M a r l 4 96 *s J an 5 1J81 *2 May 101 Feb
25 M ay 2 4 30 Feb 18 25 Dec 32 M a r
8 u i 0 A u g lz

A sk

B A L T IM O R E

B id

Chas R y G & E l 5s ’99 M-S
IO 8 V1
C hari C & A ex t 5 s .’09 J-J
lO i 's
2d 7s................1910 A-O
101
C ity & S u b 1st 5 s ..’22 J-D
115
O ity & S u b ( W a s )ls t 5 s ’48
97*2 9 8 " Coal & I R y l s t 5 s ’20F-A
C o l& G r n v ls t6 s .l9 1 6 J - J
Consol G as 6s. ..1 9 1 0 J-D
5 s . . . . ................1939 J-D
79 V. G a & A la 1st con 5s ’45 J -J
79
GaCar<feN l s t 5 s g ’29 J-J
72
72*2 G e o rg ia P 1st 6 s . . . ’22 J-J
GaSo <fe F la 1st 5s 1945J-J
’ e y I, 70
G-B-S B rew 3-4s 1951M-S
2d incom e 5s 1951 M-N
K n o x v T rac 1st 5s ’28A-0
L a k e R E l 1st gu5 s’42M-S
-Memphis St- 1st 5s’45 J-J
M e t» K W a s h )ls t5 s ’2 5F A
M t V e r C ot D u c k 1st 5s.
N p t N & O P 1st 5s’38 M-N
G e n era l 5s___1941 M-S
N o rfo lk S t 1st 5s ’4 4 .. J-J
N o r th C en t 4*as 1925 A-O
Series A 5s 1926___ J-J
Series B 5s 1926___ J-J
P itt U n T rac 5s 1997.J-J
95
Poto V a l 1 st 5s 1 94 1.. J -J
Sav F la & W es t 5 s ’34 A-O
Seaboard A L 4s 1950 A-O
Seab & R o a n 5s 1926. J-J
Bonds
103
S o uth B o u n d 1st 5s..A-O
A n ac o stia & P o t 5s........... 102
U E l L A P 1st 4Vjs’29 M-N
A tl & C h 1st 7 ... 1907 J-J
A t la n C L R R 4 sl9 5 2 M - S *88*
89* U n R y & E l 1st 4s ’49 M-S
A t l Coast. L (C t)ctfs 5s J-D
In c o m e 4s 1949....... J-D
F u n d in g 5s 1 9 3 6 ...J- D
C tfs of in d e b t 4 s ___ J-J
V ir g in ia M id la n d 5-20 y r 4s 1925.........J-J
2d series 6s 1 9 1 1 ...M -S
B a lt C P a s s ls t 5 s ’l l M-N 102
B a lt F u n d g 5 s .1916 M-N 1 0 8
3d series 6s 1 9 1 6 ..M-S
93 H 94 V'
E x ch a n g e 3 *28 193b J-J
4 th ser 3-4-5s 1 92 1.M-S
B a lt& P I s t O i m l ’l l A-O
5 th series 5s 1 92 6.M-j?
B a lt Trac 1 s t5 s ..’29 M-N 109
V a (State) 3s n ew ’3 2 .J -J
N o B a lt D iv 5s 1942 J-D 110 >2
F u n d debt 2-3s 1991. J -J
C e n t’l R y c ono sl93 2 M-N 108
W es t N C con 6s 19-14 J-J
E x t & Im p 5 s .1932 M S 107
W esV a O & P ls t 6 g ’l l J-J
W il & W e ld 5 s..-1935.J .:
Chas C ity R y 1st 5 s ’23 J-J 103
P h & R e a d 2d 5s ’33. A-O
C on M 7s 1911....... J-D
Con M 6s g 1 9 1 1 ....J - D
E x Im p M 4s g ’47. A-O
T e rm in a l 5s g 194 1.Q-F
P W A B col tr 4s ’21. J-J
P o rtla n d R y 1st 5s 1980.
Roch R y if c L c o n 5 s ’54J-J
U T rac l n d gen 5s’ 19. J-J
U n R ys T r ctfs 4s’4 9 J& J
U n ite d Rys In v 1st coll tr
8 f 5s 1926................M-N
U T rac P it ge n 5s ’97 J-J
W e ls b a ch s f 5 b 1930. J-D
W lks-B G < £E con 5s’55J-J
B A L T IM O R E
I n a c t iv e S to c k s
A la Uous Coaicfc Ir o n . 100
P r e f ............................100
A t l a n t a * C h a r lo tte ..lu o
A tla n Coast L in e R R 100
A tla n Coast L !,Conn)100
C a nton C o ................... 100
C ons Cot D u c k C o r p ...50
P r e fe r r e d ..................5 0
G eorgia Sou & F la ... 100
1st p r e f.....................100
2d p r e f...................... 100
G-B-S B r e w in g ...........100

Highest

3,

f $15 paid, t $10 paid, i 435 paid, a Receipts, b $25 p a id ,

c $30 p a id ,

A sk
90

100

.......

i*0634
100
100
Iu 2
107*2
102 \
107-*,
100
102
102
103
105

4G\
19

U

106

47*2
1934
102*2

108*2 __
95
Too
108
76*4

l0 2 s

106

78

.......

107*2

7i/*v 71
101
101 103
88 *4
84 Vi 8434
50 V 50V>
7 7 , 78*4
102
106

rib 8

88’V
89 V
103 s
109:i.

d .f 42*2 paid.

THE CHRONICLE.

782

[V o l .

lxxxv

.

ittu e s tr a m t a n d fla ilr o r v d I n t e llt a c n c e .
RAILROAD

GROSS

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or m onthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or m onth, and the last two
eolumns the earnings for the period from Ju ly 1 to and including such latest week or m onth. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with Ju ly , but covers some other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Barnin.'jr,.
Week or
M o n th .

RO A D S.

J u ly 1 to Latest D ate

Latest Grose E a r n .no

Current
Year.

ROADS

Previous
Year.

|July 1 to Latest Date
CurrenY ear.

Pr
us
Year

A la Great S outhern — Sec Sout h e m R a il w ay
A la N 0 4 Tex P a c.
N Y C & H u d R iv e r A u g u s t ___ 9,264,420 8,623,508 18,033,738 16,352 730
N O & N E a s t . . . 4 th w k A u g
109,676
110,343
511,927
539 ,196
L a k e Shore & M S A u g u s t ___ 4,135,926 3,823,405 7,940,802 7,407 836
A la & V ic k s b u rg . 4 th w k A ugi
52,414
48,362
228,094
251 391
L a k e E rie & W est A u g u s t ___
488 666
509,2361
887,151
942 475
V ic k sb u rg Sh & P 4 th w k A u g
245,975
56,309
52,945
270 ,007
248,516
170.679
336 757
C hic I n d & S o u th A u g u s t ___
483,741
A la Term & N o r t h . . J u l y ______1
2,678
3,753
2,678
3 ,753
M ic h ig a n C e n tra l. A u g u s t ___ 2,474,261 2,175,481 4,861,104 4,294 452
,670,818
k A tc h T op & S F e . J u l y _____ 7,939,555 6,670,818 7,939 .555
Cleve C C & S t L . A u g u s t ___ \2.471,386 2,365,287 4,783,849 4,508 651
A tla n ta & C h a r i . J u n e _____ ! 361,020
317,426 4,291 ,954
,061,242
P eoria & E aste rn A u g u s t ___ I 259,136
286,183
493,812
530, 820
A t la n B lrm & A tl _ . J u n e ..........I 154,783
107,782
,128,327
1,595 866
115,046
95,341
179,477
C in c in n a ti N o r th . A u g u s t ___
203 399
A t la n t ic Coast L in e J u l y ______ 2,054.189 1,918,703 2 054 ,189
,918,703
P itts & L a k e E rie A u g u s t ___ 11,519,496 1,257,504 2,953,191 1,573 277
B a ltim o re & O h i o .. A u g u s t . . . 7,724,307 7,181,040 14,976 ,210
,725,886
287,518
R u t l a n d _________ A u g u s t ____
579,844
293,568
537 441
B a n g o r & A roostook J u ly ..........\ 240,838
214,025
214,025
809,568! 1,694,013 1,618 290
240 ,838
N Y Chic & S t L . A u g u s t ___
884,757
B elle fon te Central
4,868
4,961
8,736
A u g u s t ___
233 025
10 ,399
275,892
N Y Susq & W e s t . . J u l y ______ 1 275,892
233, 025
5,344
B rid g e to n & Saco R J u l y _____
4,948
5 ,344
4,948
N o rfo lk & W e s te rn . J u l y _____ 12,868,590 2,401,368 2,868,590 2,401, 368
B u ll R o c h & P itt s ... 3d w k Sep: 210,867
174,236 2,286 ,716
,826,422
978,715[ 1,177,615
N o rth e rn C e n t r a l .. J u l y ______ [1,177,615
978 715
B u ffa lo & S usq R y . J u ly _____
191,682
N o rth e rn P a c ific ___ A u g u s t ____ 16,780,878 5,911,919 13.912.343 11,600, 845
191 ,682
C a n a d ia n N o r th e rn . 3d w k Sep
175,700
151,200 2,355 ,800
737,467
P acific Coast C o___ J u l y _______
563,514[
563 514
,642*200
737,467
C a n a id a n P a c ific ___ 3d w k S e p !l .426,000 1,369,000 18,238 ,274
,161 ,968
d P e n n — E a s t P & E j J u l y ______ 1-1600065 12406865 14,600,065 12,406 865
C e n tral o f Georgia- 3d w k Sep
245,500
229,400 2,662 ,002
,582,936
In c . 1,19 9,900
d W est of P & E .I J u l y ______ In c . 1,19 9,900
C e n tral of N Je rse y . J u ly _____ 2,543,656 2,214,501
,214,501
Peoria & E astern __ — See New York Cen tral.
2,543 ,656
C h a tta n S o u t h e r n .. 3d w k Sep|
3,078
2,717
37,775
P h lla B a lt & W a s h . : J u l y ______ 1,532,778 1,366,278 1,532,778 1,366, 278
38 ,757
Chesapeake & O h io . J u ly _____ 2,390,152 1,927,910 2,390 ,152
,927,910
P itts C ln Chic & S tL i A u g u s t ___ 2,891,896 2,589,065 5,604,623 4,996, 116
Chesterfield & Lan e M a y _____ t
5,711
2,872
51 ,912
35,638
P itts & Lak e Erie — See New Y o rk Cen tral
C hicago & A lto n R y ’J u n e
,586,094
1,067,100
911,557 12,809 ,426
R a le ig h & Chariest J u n e
4,846
.808,
58 23*
4,316
C hic G reat W estern 2d w k Sep
190,197
197,301 1,863 ,631
R a le ig h <Sc S o u tp o rto A u g u s t ___
10,179
6 256
,929,365
21 ,064
1 1 , 714
C hic I n d fc L o u is v . 2d w k Sep
R e a d in g R a ilw a y .. J u l y ______ 3.766.160 3,174,328 3,766 ,160 3,174. 328
,299,758
125,501: 133,302 1,273 ,172
C hic In d & Southern: — See New Y o rk Cen tra l.
Coal & Ir o n C o . . J u l y ______ 2,956,139 2,151,127 2.956 ,139 2,151, 127
C hic M ilw & St P a u l J u n e ______ 4,879,132 4,773,732 60,548,554 55,423,053
T o ta l b o th co’s ._ J u l y _____ 6,722,299 5,325,455 6,722 .299 5,325, 455
C hic & N o rth W e s t. A u g u s t ___ 6,439,654 5,942,750 12,404,102 11 ,453,660
207.645
179,360 1,981
R ic h F red & P o t ___ J u n e _____
856
C hic St P a u l M & O . J u ly _____ 1,130,462 1,028,541 1,130,462 1,028,541
R io G ran de J u n e ___ J u l y ______
78,565
61,595
78 ,565
61 595
C hic T erm T ran R R 1st w k Sep
318,156
R io G ran de S o u th . _ 3<1 w k Sep
14,118
13,357
33,961
30,555
337,139
150 ,137
138 263
C ln N O & T exas P — See S out hern R a il w ay.
R o c k Is la n d S ystem J u ly ______ 5.079.160 4,393,708 5,079>,160 4,393 ,708
C in c in n a ti N orthern — See New York Cen tral
e S t L & S an F ra n J u l y ______ 4,376,172 3,541,808 4,376 .172 3,541 808
Clev C ln C hic & St L — See New Y o rk Cen tral.
f E v a n s v & Ter H J u l y ______
189,775
198! ,753
198,753
189 775
C olorad o M i d la n d . . J u l y ______
T o ta l of a ll lines - J u l y .......... 9,654,086 8,125,293 9,654,0861 8,125 293
225,899
195,157
225,899
195,157
h Col & S o u th S y s .. 3d w k Sep
R u t l a n d ____________ — See New Y o rk Cen tra l.
331,419
293,684 3,195,539 2,933,130
C ol N e w b & L a u r .. J u l y _____
17,031|
St Joseph & G r I s l__ J u l y _____
146.580
22,580
17,031
22,580
142,719
C opper R a n g e ______ J u l y ...........
88,173|
68,496
68,496
88,173
St L o u is & S an F ran — See R ock Is la n d S y s te m .
C orn w all____________ J u ly ..........
21,481!
21,481
18,087
201,265 2,421 899| 2,124 912
18,087
230,806
S t L ou is S o u th w e s t. 3d w k Sep
C o rn w a ll & L e b a n o n J u l y ______
41,286
41,268!
39,711
39,711
Seaboard A ir L l n e . . J u n e _____ 1,377,573 1,218,8181 16,427 941)15,116, 946
D e n v & R io G ran de 3(1 w k Sep
38 441
40 222!
38,441:
477,100
Sierra R a ilw a y ____ J u ly ______
430.500 5,483,737 4,667.923
40,2 22
D e tro it & M ackin ac 2d w k Sep
253 579
277,504
258,289
297 ,275
24,488
S o u th e rn I n d i a n a . , A u g u s t ___
160.005
140,053|
22,690
D e t Tol & Ir o n t Sys 2d w k Sep
c S o u th e rn P a c C o . . J u lv .......... 11451270 9,213,736 11 ,451 270! 9,213 736
92,649
78,334
974,400
861,378
D u l So Shore & A t l . 3d w k Sep
70,325!
892,450
S o uthern R a l lw a y . . 3d w k Sep 1.211,514 1,122,081 13,307 741 12,339 670
66,828
782,458
E r i e ____ ___________ J u ly _____ 4,937,838 4,361,024 4,937,838 4,361,024
-Mobile <Sc O h io ___ 2d w k Sep
170,905 2,157 390 1,988 669
179,528
E v a n s v ille & Ter H — See R o c k Is la n d S y ste m .
C ln N O & Tex P . 2d w k »Sep
167,526) 1,866 810 1,757 292
167,623
F a ir c h ild 4 N E . . . A u g u s t ___
2,769
1,197
A la Great S o u t h . 2d w k Sep
2,753
72,212
875 ,999
1,375
75,703
797 606
F o n d a Jo h n s & G lov J u ly i ____
93,146
85,025
93,146
41 ,895
Georgia So & F la . 2d w k .Sep
424 005
85,025
42 3661
463 .732
Georgia R R ________ J u ly _____
234,418
218,549
234,418
218,549
21 ,285
18,5891
238 ,310
Texas C e n tra l_____ 2d w k Sep
179 634
Georgia S o u th & Fi a — See Sou th e m R al lw a y .
278.864
244,446! 3,260 ,529 2,843 616
Texas & P a c ific ____ 3d w k Sep
G ra n d T ru n k S y s t .. 3d w k Sep
7,625!
906,060 11,029
954,311
T id ew ate r & W e s t. J u ly ..........
,195,080
8,488
8 .488
7 625
G r T ru n k W est
402,055!
460 ,008
1st w k Sep
147.542
T oledo & O h io Cent J u l y ______
402 055
128.728 1,282
460,008
,149,133
D e t G r H & M llw 1st w k Sep
26,906
26,783
272 ,171
37,954
39,910
398
400,183
T oledo Peo & W e s t. 3(1 w k Sep
281 433
C a n a d a A t la n t ic . 1st w k Sep
79,356
88,726
423.786
986 199
990 ,333
43,394
454
46,650
T oledo S t L & W est 3d w k Sep
6,111
G reat N o r th e rn ____ A u g u s t ___ 5,525,984 4,768,879 10,592
12 ,342
6,505
,545 315
T om blgbee V a lle y . . A u g u s t ___
1 541
M o n ta n a C entral A u g u s t ___
230,216
481
78,026
62,063
151 680
248,410
T or H a m & B u ffalo A u g u s t ___
124 802
477 731
T o ta l sy ste m ____ A u g u s t ___ 5,774,394 4,999,095 11,074
,023,046
U n io n P a cific S y s t. J u ly _____ 7.233,994 6,207,829 7,233 ,994 6,207 829
105 701
211 ,227
G u lf & S hip Is la n d . 2d w k Sep
45,186
534
488.355
80,432
44,628
V lrg ln la & So W e s t. A u g u s t ___
165 294
H o c k in g V a lle y ____ J u l y ______l 634,939
596,248
593,451
593,233 6,626 ,601 6,528 349
593,451
634
W a b a s h ____________ 3d w k Sep
Illin o is C e n tra l____ A u g u s t ___ 4,655,194 4,486,250 9,303
.828,396
131,219
103,846 1,430 ,510 1,250 391
W estern M a r y la n d - 3d w k Sep
729.581
In te r & G reat N o rth 3d w k Sep
160,000
,6 6 6 ,0 0 0
W est Jersey & S e a . J u l y ___
680,981
680 981
183.000 1,642
729 ,581
o ln te ro c e a n lc (Mex) 3d w k Sep
W he el & Lake E rie . 2d w k Sep
130,353
125,752 1,569
128,543
125,548 1,424 ,538 1,225 ,088
.489,599
Io w a C e n tra l_______ 3d w k Sep
75,332
69,020
715
W isconsin C e n t r a l.. J u ly ..........
748,926
748 ,926
690,247
614 ,169
614,169
K a n a w h a & M i c h .. J u l y ______
202,631
W rig h ts v & T ennille J u y ______
18 077
189,800
202
19,908
18 ,077
189,800
19 908
K ansas C ity S o u th . A u g u s t ___
905,967
Y a z o o & Miss V alle y A u g u s t ___
678,743 1,753
,368,593
710,901
674,774 1,386 ,508 1,263 ,241
L a k e Erie & W es t’n — See New Y o rk Cen tra l
L a k e Shore & M Sou — See New Y o rk Cen tra l.
L e h ig h V a lle y _____ J u n e ______ 3,348,393 3.172,863 36,068,429 32,789,856
L e x in g to n & E a s t . . J u l y ______
51,761
Previous
50,276
51,761
50,276
Curren:
L o n g Is la n d ________ J u ly _____
Year
In c . 89 ,003
V ariou s F iscal Years.
In c . 89,003
Year
P eriod.
L o u is ia n a & A r k a n . J u l y ..........
118,010
103,749
118 ,010
103.749
L ou is v ille & N a s h v . 3d w k Sep 1 0 11,110
921,265 11,456,427 10,389,652
M acon & B in n in g . . A u g u s t ___
13.903
1,452.308 1,329,773
12,455
A tla n ta & C h a rlo tte A ir L in e ___ M ch 1 to J u n e
26,052
25,515
M anistee & No bast M a r c h ____
41,654
36,721
41,789
44,060
B ellefonte C e n tra l_______________ J a n 1 to A u g
M a n ls tiq u e _________ A u g u s t ___
136,482
133,400
7,606
11,783
14*580
Manistee & N o rth e as te rn _______ ■Ian 1 to M ch
24*819
75,949
M a ry la n d & P e n n .. A u g u s t ___
45,799
32,741
37,438
66,734
M a n ls t iq u e ______________________ J a n 1 to A u g
60,776
a M exican C e n t r a l.. J u ly _____ 3,037,969 2,407,542 3,037,969 2,407,542
5,416,600 4,849,700
M exican R a ilw a y ________________ J a n 1 to Sep
949,309
a M exican I n t e r n a t . 3d w k Sep
133,504 1,973,499 1,674,979
143,347
861,172
M e xican S o u t h e r n _____________ J a n 1 to Sep
64,964,633 59,231,954
a M exican R a ilw a y . 1st w k Sep
146,700
148,900 1,445,400 1,353,100
New Y o rk C e n tra l_____ _________ J a n 1 to A u g
29,530,338 28,014,933
a M exican S o u th e rn 1st w k Sep
29,022
23,851
861 ,173
950,649
L a k e Shore & M ichigan S o uth J a n 1 to A u g
M ichigan C e n tral___ — See New Y o rk Cen tral.
3,319,688 3.467,854
L a k e E rie & W es tern_________ J a n 1 to A u g
M id la n d V a lle y ____ A u g u s t ___
1,983,239 1,483,020
113,738
43,096
245,031
104 ,135
C hicago I n d ia n a & S o u th e r n - J a n
to A u g
18,695 084 16,913,595
M in eral R a n g e _____ 3d w k Sep
15,253
13,508
185 ,140
189,033
M ic h ig a n C e n tra l_____________ J a n
to A u g
17,223,618 15,871,169
M ln n e a p &. S t Louis 3d w k Sep
88,247
78,423
906 ,717
963,403
Cleve C in C hic & S t L o u is____ J a n
to A u g
1,935,733 1,992,376
M in n S t P & S S M . 3d w k Sep
283,329 2,851,471 2,896 ,916
247,373
Peoria & E a s te rn _____________ J a n 1 to A u g
659,281
M o K ansas & Texas (3d w k A u g
492,519
417,437 3,674,101 3,035 ,750
C in c in n a ti N o r th e rn _________ J a n
679,160
to A u g
9,995,235 9,620,433
P itts b u r g h & L a k e E rie ______ J a n
M o P a c & Ir o n M t . . ! 3d w k Sep
904.000 11.467.000 10,458 ,000
978,000
to A u g
1,966,340 1,805,309
C en tral B r a n c h . . i 3d w k Sep
32,000
27,000)
425,000:
390 ,000
R u t la n d ________________________ J a n
to A u g
6,915,035 6,504,290
T o ta l ................ ....13d w k Sep It ,010,000
931.000 11.892.000 10,848 ,000
N ew Y o rk C hicago & S t L o u is J a n
to A u g
7,523,909 6,454,509
M o bile J a c k & K C . 14th w k J u n e i
34,152
21,903 1,524,664 1,056 ,236
N o rth e rn C e n tra l........................... J a n
to J u ly
M obile & O h io _____ — See S out Hern Rail. w ay.
93,741,614 82,233,714
d P e n n — E a st of P itts & E r i e . . J a n
to J u ly
In c . 6,12 0 ,2 0 0
N a sh v C h a tt & S t L J u l y ______
957,839
910,247
d W est o fP ltts b u r g h & E r i e . . J a n
t o J u ly
957,839)
910,247
to J u ly
N a t R R o f M e x ic o .. 3d w k Sep
9,710,989 8,879,689
328,452
280,867 3,647,519! 3,253,320
P h lla B a ltim o re & W a s h ln g to n . J a n
H id a lg o & N E . . 3d w k Sep
to A u g
21,540,399 19,148,675
22,355
20,310
P ltts C ln C hicago & S t L o u is . . J a n
231,555
231,979
9,648
Nevada-Cal-Oregon !4 t h w k A u g
14.360
65,6981
542 .953
R io G ra n d e J u n c t io n ____________ D^*c 1 to J u ly
48,928
432,320
N e v a d a C e n tra l____ | J u n e ______
8,361
6,8111
84,4891
61,249
Texas & P a c f l c _________________ •Jan 1 to Sep
11,657,304 9,447,104
N Y C hic & St L o u is — See New Y ork Cen tral.
3.057,033 2,851 533
W est Jersey & Seashore________ !J a n 1 to J u ly
N Y O n t & W e s te m lJ u ly _____
827,147
807,370'
827,1471
807,370 ||

,

AG G REG A T ES OF GROSS E A R N IN G S — Weekly and M onthly.
M o n th ly Sum m aries.
2d
3d
4 th
1st
2d
3d
4 th
1st
2d
3d

week
week
week
week
week
week
week
week
week
week

J u ly
J u ly
J u ly
A ug
A ug
Aug
A ug
Sept
Sept
Sept

(43
(44
(42
(44
(46
(46
(45
(42
(44
(32

ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____
ro a d s )____

C u r ’nt Year Prev's Year In c . or Dec.
S
10,452,143
10,787,896
15,869,563
10,422,864
10,859,109
10,979,680
15,826,422
10,203,348
10,675,363
9,698,780

S
9,421,896
9,747,003
13.947,977
9,602,427
10.067,077
10,057,599
14.483.145
9,494,861
9,882,969
9,053,883

%

1

M o n th ly S um m aries.

S
+ 1,030,247 10.93 ' M o n th N ov
+ 1,040,893 10.68 i M o n th D ec
+ 1,921.586 13.77
M o nth J a n
+ 820,437 8.54 j M o nth F eb
+ 792,032 7.87
M o n th M ch
M o n th A p ril
+ 922,081 9.16
+ 1,343 277 9.27
M o n th M ay
+ 708,487 7.45
M o n th J u n e
+ 792,394 8.02
M o n th J u ly
+ 644,897 7.20
M o n th A u g

1906
1906
1907
1907
1907
1907
1907
1907
1907
1907

(123
(127
(123
(122
(118
(118
(121
(121
(116
(67

ro a d s ).
ro a d s ).
roads) .
ro a d s ).
ro a d s ).
roads) .
ro a d s ).
ro a d s ).
r o a d s ).
ro a d s ).

C u r ’nt Y ear Prev’s Year In c . or Dec.
$
185,696,274
184,235,595
173.212.305
162,283,992
180,539,532
188,130,451
195.943.305
183 125,657
187,069,790
86,377,190

$
175,727,985
170,746,763
162,623,883
152.555,121
164,645,009
154,894,748
165 890,345
161,235.109
163 685,258
79,029,051

i
+ 10,971,289!
+ 13,488 826
+ 10,588.422
+ 9.728 801
+ 15,894,523
+ 33,235,703
+ 30 052 960
+ 21,890,548
+ 23,384,532
+ 7,348,139

%
6.24
7.30
6 51
6.05
9.65
21.45
18.12
13.59
14.28
9.30

a M exican currency,
b Includes earnings of G u lf & C hicago D lv ljio a .
c In clu d e s tlie H o u s to n & Texas C en tral a n d Its s u b ild ia ry lines in b o ta
years.
U Covers lines directly operated,
a In clu des the C hicago & E astern Illin ois In b o th years,
f In clu des E v a n s v ille & In d ia n a Kkt.
h Includ® *
earnings of CoL & S o u th ., F t . W o rth & D enver C ity a n d a ll a ffilia te d lines, excepting T rin ity & B razos V alley R R .
k In clu d e s lu bo th ya»TJ t a m in g *
of D e n v er E n id & G u lf R R . , Pecos S ystem a n d S a n ta Fe Prescott iSs P h o e n ix R y .




S e p t.

28 1907.J

THE CHRONICLE.

Latest Gross Earnings by Week.— I n the table which
follows we sum up separately the earnings for the third
week of September. The table covers 32 roads and shows
7.12% increase in the aggregate over the same week last year.
T M rd week of September.

1907.

B uffalo R oc hester & P itts b u rg h
C a n a d ia n N o r th e r n _______
...
C a n a d ia n P a c i f i c ___ _______ . .
C entral o f G e o r g i a _________ _ .
C h a tta n o o g a S o u t h e r n ________
Colorado & S o u t h e r n .______ _____
D e n v e r & R io G r a n d e ___________
D u lu th S o u th Shore & A t la n t ic .
G ran d T ru n k o f C a n a d a ----- 1
G ra n d T ru n k W e s te r n _____ }
D e tro it G r H a v & M U w ____ |
C a n a d a A t l a n t ic . .
______j
In te r n a tio n a l & G rea t N orth e rn
In te ro c e a nic of M e x ic o .. _____
Io w a C e n tra l_____ _______________
L ou is v ille & N a s h v ille ____ ____
M e xican In te r n a t io n a l____
M ineral R a n g e .
______
. .
M in n e a p o lis & S t L ou is
___
M in n S t P a u l & S S M _
M issouri P acific & Ir o n M tn
C e n tral B ra n ch
_ . _______
N a tio n a l R R o f M e x i c o ___
H id a lg o & N o r th e a s te rn ____
R io G ra n d e S o u th e r n ___________
S t L o u is S o u th w e ste rn _________
S o u th e rn R a ilw a y ___________
Texas & P a c ific _______ _________
T oledo P eoria & W estern
T oled o S t L ou is & W e s te r n .
W a b a s h ____
.
___________ . .
W es tern M a r y l a n d ___ _____ _____
T o ta l (32 r o a d s ).
_________
!Net Increase ( 7 .1 2 % ) __________

1906.

Increase.

S
210,867
175,500
1,426,000
245,500
3,078
331,419
4771100
70,325

S
174,236
151,200
1,369,000
229,400
2,717
293,684
430,500
66,828

$
36,631
24,300
57,000
16,100
361
37,735
46,600
3,497

954,311

906,060

48,251

160,000
128,523
75,332
1,011,110
143,347
13,508
88,247
247,373
978,000
32,000
328,452
20,310
14,118
230,806
1,211,514
278,864
26,783
88,726
596,248
131,219

183,000 1
125,752
69,020
921,265
133,504
15,253
78,423
283,329
904,000
27,000
280,867
22,355
13,357
201,265
1,122,081
244,446
26,906
79.356
595,233
103,846

9,698,580

9,053,883

2,771
6,312
89,845
9,843
9,824

23,000

1,745
35,956

74,666
5,000
47,585
761
29,541
89,433
34,418
9,370
1,015
27,373
707,566
644 697

62,869

For the second week of September our final statement
#overs 44 roads and shows 8.02% increase in the aggregate
over the same week last year.
Second week of September.
P re v io u sly reported (32 r d s )___
A la b a m a G rea t S o u th e r n _______
C h a tta n o o g a S o u th e r n _________
C hicago G rea t W e s te r n _________
Chicago In d la n a p & L o u is v ille ..
C ine N ew O rl & Texas P acific . .
D e tro it T oledo & lr o n t o n _______
G eorgia S o u th e rn & F lo r id a ____
G u lf & S h ip I s la n d _______________
M in n e a p o lis S t P a u l & S S M . .
N e v a d a C a lifo rn ia & O re g o n ___
Texas C e n tr a l---------------W h e e lin g & L a k e E r ie _________

'

1907.

$

9,523,802
75,703
2,876
190,197
125,501
167,623
92,649
41,895
44,628
250,900.
7,951
21,285
130,353

T o ta l (44 r o a d s )___________ , . . . 10,675,363
Jtfet In crea se ( 8 .0 2 % )_________
______

1906.

$

! Increase. Decrease.

,719,125
72,212
2,680
197,3011
133,302
167,526;
78,334
42,366
45,186
275,788
5,012
18.589
125.548
9,882,969

$

819,126
3.491
196
97
14,315

$

14 449
7,104
7,801
471
558
24,888

55,271

Net Earnings M outhly to Latest D ates.— The following
shows the gross and net earnings to latest dates of all STEAM
railroads furnishing m onthly statements. The compilation
includes every road from which we can get returns of this
character, and in th at form is given once a m onth. Eerly
returns are published from week to week, as soon as issued,
b u t for the convenience of our readers all hte roads m aking
returns are brought together here in the week in which we
publish our m onthly article on net earnings— say about the
20 th of the m onth.
---- Gross E a rn 'g s ---- ---- Net E a rn in g s ---C urren t
P revio us
C urrent
P revious
Y e ar.
Y e ar.
Y e ar.
Year.
R oads.
$
$
$
$
A la G t S o u th e rn — See u n d e r S o uthern R y system below .
A la b a m a T enn & N o r . . J u l y
3,753
2,678
1,947
1,247
A to h T o p & S a n ta F e .b - J u ly 7,939,555 6,670,818 d 2 ,590,860 dZ ,475,190
A t la n t a B irm & A t l.a . - J u n e !
154,783
107,782
34,756
41,979
J u ly 1 to J u n e 3 0 _______ 1,595,866
1,128,327
386,057
298,587
A t l & C h a r A ir L ln e .a - June
361,020
317,426
134,353
138,337
M c h 1 to J u n e 3 0 _______ 1 ,452,308
1,329,773
344,181
334,779
2,054,189
1,918,703
288,963
425,362
7,724,307 7,18 1,0 40
2,662,327
2,672,611
J u ly 1 to A u g 31............ 14,976,210 13,725,886
4,966,915 4,869,470
240,838
B a n g o r & A r o o s to o k .b - J u ly
214,025
72,739
65,382
4,868
B elle fon te C e n tra l, b ____ A u g
4,961
1,219
1,257
J a n 1 to A u g 31 _______
41,789
36,721
12,491
6,621
B rid g e to n <Jc Saco R i v . b J u ly
5,344
4,948
2,472
2,013
B u ff R o c h & P it t s b .b . -A ug
856,591
743,622
353,538
293,251
J a n 1 to A u g 3 1_______ 1,713,218
1,303,714
736,298
483.583
B uffalo & S usq R R - a - - J u n e 1 167,578
105,544
25,006
30,717
J u ly 1 to J u n e 3 0 _______ 1,853,856
1,522,740
539,197
535,213
1,024,200
603,800
361,900
205,900
C a n a d ia n P a c lllc .a ---- J u ly 7,008,274
51967,968 2,506,853
2,371,811
C e n tral o f G e o r g ia .a --- J u ly
971,932
953,936
210,288
195,300
C e n tral o f New J e r s e y .b J u ly 2,543,656
1,107.786
2,214,501
1,155,360
C h a tta n o o g a S o u t h ’n . a . J u ly
15,081
16,875
217
1,042
Chesapeake & O h io .b - - J u ly 2,390,152
1,927,910
719,596
853,301
5 711
Chesterfield & L a n c a s .b - M a y
2,872
2,289
824
J u ly 1 to M a y 3 1 _______
51,912
35,638
13,931
22,659
C hicago & A l t o n . a ______J u n e 1,067,100
911,557
385,846
300,835
J u ly 1 to J u n e 30 _______ 12,809,426 11,586,094 4,415,974
3,413,010
C hicago G t W estern . b . . M a y
749,096
720,365
185,720
199,699
8,740,988
8,126,926
2.377,008
2,340,197
E 502,232
498,956
154,251
152,083
5,988,867
5,921,001
1,825.416
1,983,063
C hic T erm T r a n s f e r .b - .J u n e
142,229
145,510
60,183
62,737
J u ly 1 to J u n e 3 0 _______ 1,716,487
615,160
1,731,200
660.862
C in e N O & Tex P a c — See u n d e r S o uthern R y system below .
C olorado M l d la n d .a ____ J u ly
225,899
195,157
62,914
50,367
C olorad o & S o u t h e r n .a . J u ly 1 190,244 e l , 014,451
352,408
C290.106
C o lu m b ia N e w b & L a u . a J u l y
17,031
. 22,580 def.5,865
4,885
88,173
68,496
45,684
C oppe r R a n g e .a .............. J u ly
31,766




783

---- Gross E a rn 'g s ---- ---- N e t E a rn in g s ---C urrent
P revio us
C urrent Previous
Y e ar.
Y e ar.
Y e ar.
Year.
Roads.
J
$
$
$
C o rn w a ll R R . b - .............. J u ly
21,481
18,087
13,172
9,486
C o rn w a ll & L e b a n o n .b .J u ly
41,268
39,711
18,799
22,483
D e n v e r & R Io G r a n d e , b .J u ly 2,027,337 1,654,523
741,400
516,760
D e tro it & M a c k in a c .a - - J u ly
109,750
98,084
19,567
19,263
D u lu t h So S h & A t l . b - . J u l y
329,912
283,724
106.847
110,840
E r ie _ a ____________________ J u ly 4,937,838
4,361,024
1,512,987 1,305,619
F a lr c h lld & N o r th e a s t.b - A u g
1 197
1 375
d e fl,5 2 5
def696
J a n 1 to A u g 3 1 _______
2 769
2 753
d e f1,294
d e fl9 1
Fonda Johns & G lo v .a .J u ly
93,146
85,025
59,584
50,992
Georgia C oast & P le d ’t . J u n e
9,436
2,920
89,262
31,003
J u ly 1 to J u n e 30_______
J u l y _____________________
8,515
2,379
G eorgia R R . a ___________J u ly
234,418
218,549
19,415
43,535
G ran d T ru n k R y C o ____ J u ly 3,096,067
2,771,471
865,264
805,892
G ran d T ru n k W e s t’ll- J u ly
539,208
480,325
55,965
52,073
D e t G r H a v & M ilw ._ J u ly
165,947
174,220
20,926
63,264
C a n a d a A t la n t ic ........... lu ly
199,039
IS O ,060
16,059
35,525
G u lf & S h ip I s la n d .a - - J u ly
221,995
192,982
66,656
38,025
H o c k in g V a lle y . a _______ J u ly
634,939
593,451
215,789
204,037
Illin o is C e n t r a l.a ............ J u ly 4,648,354
4,342,146
1,109,300 1,144,398
In te ro c e a nic of M e x ic o ..J u ly
605,764
581,761
142,398
137,261
Io w a C e n t r a l.a _________ J u ly
245,611
2 34,825
ft63,450
*51,746
K a n a w h a & M ie h lg a n .a . J u ly
202,631
189,800
30,232
46,910
K a ns as C ity S o u t h e r n ..a .A u g
905,967
678,743
335,351
234,590
J u ly 1 to A u g 31_______ 1,753,744
1,368,593
635,289
459,672
L e high V a lle y . b ________ J u n e 3,348,393
2,172,863 o l , 370,099 01,623,959
J u ly 1 to J u n e 30_______ 3 6,068,429 3 2 ,7 8 9 ,85 6o l3,9 54 ,1 78 ol2,63 7,6 46
L e x in g to n & E a s te m .b - J u ly
51,761
50,276
19,289
23,041
L o n g l s l a n d . b ___________ J u ly
In c 89,003
D ec 26.826
L o u is ia n a & A rk a n sas . a J u l y
118,010
103,749
45,769
34,066
L o u is v ille & N a s h v .b - - J u ly 4,126,037
3,703,522
1,034,787 1.087.57S
M a n is tlq u e .b ..... ............... A u g
7,606
11,783
1,559
334
J a n 1 to A u g 3 1 . . . . .
45,799
75,949
d e fl,5 8 9
29,100
M a ry la n d & P e n n a .a — A u g
37,438
32,741
14,999
12,752
J u ly 1 to A u g 3 1 _______
66,734
60,776
22,090
21,160
M e xican C e n tra l..- c .. . . J u n e 2,744,086 2,581,938
589,475
808,740
J u ly 1 to J u n e 3 0 _______ 31,236,195 28,376,806
9,166,017 8,568,16]
J u l y .......... .................... ..
3,037,969
2,407,542
889,428
627,734
M e xican I n t e r n a t i o n a l..J u ly
768,530
589,577
228,431
164,137
M in e ral R a n g e .b ________ J u l y
72,338
64,059
15,082
20,535
M ln n e a p & S t L ou is, a .- J u ly
362,814
318,575
fcl30,353 fc122,002
M ln n e a p S t P & S S M . b J u ly 1 094,890
1,082,976
406,435
539,227
M o K a n & T exas- b____ J u l y 2,224,535
1,848,354
925,094
667,736
M issouri P acific s y s t.b - .J u n e 4,031,319
3,604,902
1,299,719 1,073,274
J u ly 1 to J u n e 3 0 _______ 48,703,336 44,566,816 16,188,271 14,284,415
N a s h v C h a t & S t L o u is b J u ly
957,839
910,247
N a tio n a l R R of M e x lc o .J u ly 1,405,725
1,188,042
H id a lg o & N o r th e a s t’n . J u l y
85,164
86,206
N e v a d a C al & Oregon .a - J u ly
29,367
21,969
8,361
6,811
N e v a d a C e n tral, b _____ J u n e
J u ly 1 to J u n e 30_______
84,489
61,249
N Y O n t & W e s t e m . a .- J u ly
827,147
807,370
N Y S usq & W e s te r n .a - J u ly
275,892
233,025

228,025
224,171
448,893
428,752
15,980
27,252
15,645
13.029
1,591
355
30,221 * 30,155
323,962
338,793
85,600
70,234

N o rfo lk & W e s t e r n - b ...J u ly 2,868,590
2,401,368
1,118,307
885,976
N o rth e rn C e n t r a l .b ____ J u ly 1,177,615
978,715
263,832
246,332
J a n 1 to J u ly 3 1 ........... 7,523,909
6,454,509
1,359,716 1,408,716
P e n n s y lv a n ia L ines d ire c tly o pe ra te d—
E a s t o f P itts & E r i e . . J u l y 14,600,065 12,406,865
4,417,108 4,135,608
J a n 1 to J u l y 3 1 ----- 93,741,614 82,233,714 24,389,154 23,672,754
W e s t of P itt s & E r i e . . J u ly
I n c 1,199,900
In c
437,100
J a n 1 to J u ly 3 1 _______
I n c 6,120,200
I n c 1,219,800
P h lla B a lto & W a s h . b _ . J u l y 1,532,778
1,366,278
370,034
389,534
J a n 1 to J u ly 3 1 ............ 9,710,989
8,879,689
1,795,594 2,130,694
P itt s C in e C hic & S t L . a A u g 2,891,896 2,589,065
787,828
785,002
J a n 1 to A u g 3 1 ............ 21,540,399 19,148,675
4,981,446 4,561,328
R a le ig h & C harleston .a - J u n e
4,846
4,316
657
146
.July 1 to J u n e 3 0 ............
69,808
58,233
17,545
14,926
R a le ig h & S o u t h p o r t_ a .A u g
10,179
6,256
3,001
944
J u ly 1 to A u g 3 1 ............
21,064
11,714
6,156
2,680
R e a d in g R a ilw a y Co—
3,174,328
1,533,040 1,210,651
P h ila & R e a d in g .b ___ J u ly 3,766,160
C oal & Ir o n C o . b ........J u ly 2,956,139
2,151,127
147,416
19,689
5,325,455
1,680,456 1,230,340
T o ta l b o th C o s .b ____ J u ly 6,722,299
R e a d in g C o ---------J u ly
........................ ....... . .
130,649
132,269
T o ta l a ll c o s ..................J u ly
.......................................
1,811.105 1,362,609
R ic h Freds & P o t o m a c .J u n e
207,645
179,360
67,421
67,664
J u ly 1 to J u n e 3 0 ............ 1,981,805
1,764,856
628,694
636,560
R io G ra n d e J u n c t io n ___ J u ly
78,565
61,595
«2 3 ,5 6 9
n l8 ,4 6 8
D ec 1 to J u ly 31............
542,953
432,320
n l6 2 ,8 8 4 n l2 9 ,6 8 5
R io G ra n d e S o u t h e r n .b .J u ly
59,159
50,458
24,445
22,136
R o c k Is la n d S y s te m .a - - J u ly 5,079,160
4,393,708
1,095,790 1,274,577
S t L o u is & S a n F r a n .a J u l y 4,376,172
3,541,808
1,111,948 1,139,990
E v a n s v & Terre H . a . J u l y
198,753
189,775
55,350
68,233
T o ta l of a ll lin e s .a . . J u l y 9,654,086
8 ,125,293
2,263,089 2,482,801
S t Jos & G r I s l a n d . b - J u l y
146,580
142,719
61.595
54,883
S t L ou is S outhw estern b J u ly
859,566
732,744
273,049
185,633
Seaboard A ir L i n e . b ___ J u n e 1,377,573
1,218,818
383,612
289,615
J u ly 1 to J u n e 3 0 ----- 16,427,941
15,116,946
3,479,900 4,603,486
S o uthern I n d 'a n a . b ____ M a y
136,759
121,421
51,658
58 836
J u ly 1 to M ay 3 1 . .......... 1,506,137
1,323,449
624,133
523,348
Southern P a e ific .a ______J u l y l l ,451,270
9,213,736
3,452,587 3,40 5,0 19
S o u th e rn R a ilw a y S y s te m —
S o u th e rn R y Co . a --- J u ly 4,8S5,201
4,479,795
806,100
936,742
M o bile & O h lo . a ______J u n e
926,376
810,292
137,529
152,775
J u ly 1 to J u n e 3 0 . ..........10,759,516
9,445,927
3,116,431 2,900,493
C ine N ew O rl & T P . a J u ly
770,478
739,588
148,484
173,454
A la G t S o u th e r n .a - - J u ly
363,568
' 318,762
72,479
68,084
Georgia Sou & F la .a - J u n e
189,881
166,168
22,493
28,603
J u ly 1 to J u n e 3 0 . .......... 2,273,342
1,944,945
393,134
425,286
Texas C e n t r a l.a ________ J u ly
90,708
67,699
20,098
26,603
T id e w a te r & W e s te r n , b - J u ly
8,488
7,625
1,007
1,222
Toledo & O h io C e n t .a . . J u ly
460,008
402,055
156.740
149,607
T oledo P e o ria & W e s t .b .J u ly
93,394
99,100
12,721
20,551
T oledo P eoria & W e s t. b .A u g
103,962
105,176
20,323
24,035
J u ly 1 to A u g 3 1 ............
197,356
204,276
33,633
44,587
T ol S t L o u is & W e s t . a . . J u l y
341,514
333,153
p89,729
p76,697
T o m blg b ee V a lle y C o — A u g
6,505
6,111
1,929
1,846
J u ly 1 to A u g 3 1 ............
12,342
11,541
3,205
3,646
U n io n P a c ific .a .................J u ly 7,233,994
c6,207,829
3,041,983 c 3 .121,381
V ir g in ia S ou th w e ste rn b J u l y
105,526
84,862
42,565
28,984
W a b a s h . b . . ..................... J u ly 2,309,858
2,275,341
749,977
746,670
W e s t Jersey & Sea S h . j , . J u l y
729,581
680,981
823,662
292,362
J a n 1 to J u ly 3 1 _______ 3,057,033
2,851,533
429,394
816,394
W e s te r n M a ry la n d - a — - J u ly
477.297
460,825
1/153,133 1/172,695

THE CHRONICLE

781

---- Gross E a rn 'g s ---- ----- N et E a r n in g s ---C urrent
P revio us
C urrent
Previous
Y ear.
Y ear.
Y ear.
Year.
R o a d s.
$
$
5
•*
$
W h e e iin g & L a k e E rie b J u ly
585,194
431,092
175,274
136,374
W isconsin C e n tral . b _ . - J u l y
748,926
614,169
312,513
239,577
W rig h ts v & Tenn ille . b -J u ly
sl8 ,0 7 7
sl9 ,9 0 8
3,844
<
7,563
Y a c o o & Miss V a lle y ..a - J u ly
675,617 588,467 d e fl2 ,1 3 0
'def85,489
GB’e N et earnings here given are a fte r d e d u c tin g taxes
b N e t earnings here given are before d e d u c tin g taxes,
c F igures revised for prev ious y ear so as to accord w ith th e new classifi
c a tio n o f earnings a n d expenses n o w re quire d by the In te r- S tate C om m erce
-Commission.
a T he c o m p a n y now Includes earnings of th e D e n v e r E n id & G u lf R R .
Pecos V a lle y system a n d S a n ta F e P rescott & P h o e n ix R y . in b o th years.
F o r J u ly taxes a n d re nta ls a m o u n te d to $247,710, a g a in st $189,112 in 1906
a fte r d e d u c tin g w h ic h , net fo r J u ly 1907 w as $ 2,3 43 ,1 50 , a g ain st $2,286,078
la s t year.
h F o r J u ly 1907 a d d itio n a l incom e w as $9,050, agai st $4,723 in 1906.
k F o r J u ly 1907 a d d itio n a l incom e was $13,365, a g a in st $20,246 In 1906.
n These figures represent 30 % of gross earn in gs.
o In c lu d in g o ther in co m e , to ta l Incom e (exclusive o f results o f coal c o m 
panies) for J u n e is $1,431,405 in 1907, a g ain st $2,012,946 in 1906: a n d for
period fro m J u ly 1 to J u n e 30 is $14,899,316 In 1907, a g ain st $13,446,498
in 1906.
p For J u ly 1907 a d d itio n a l Incom e was $561, a g ain st $421 in 1906.
s In clu des $102 o ther Incom e for J u n e 1907, a g a in st $451 in 1906.
(/For J u ly a d d it io n a l Incom e a n d n e t profits fr o m c o a l, & c., were $96,522
this year a g a in s t, $23,632 last year.
I n t e r e s t C h a r g e s a n d S u r p lu s .— T h e f o llo w in g r o a d s , in
a d d it io n to t h e ir g ro ss a n d n e t e a r n in g s g iv e n in t h e fo r e g o in g ,
a ls o r e p o r t c h a r g e s f o r in t e r e s t , & c ., w i t h t h e s u r p lu s a b o v e
• r d e fic it b e lo w th e s e c h a r g e s :

Roads.
B a n g o r & A io o s to o k ____ J u ly
B otH'fonte C e n tra l............ A u g
J a n 1 to A u g 31-..........
B rid g e to n & Saco R i v . . J u l y
C e n tra l o f N ew J e r s e y .- J u ly
C hicago G rea t W e s te r n .M a y
J u ly 1 to M a y 3 1 _______
’C o p p e r R a n g e ................... J u ly
C o rn w a ll & L e b a n o n .- J u ly
D e n v e r & R io G r a n d e .. J u l y
D e tr o it & M a c k in a c ____ J u l y
D u lu t h So S h & A t l _ . J u l y
^Georgia R R -----------J u l y
H o c k in g V a lle y _________ J u ly
K a n a w h a & M ic h ig a n . . J u l y
M a ry la n d & P e n n a _____ A u g
J u ly 1 to A u g 3 1 . ..........
M in e ra l R a n g e __________J u l y
M o K a n & T ex a s_______ J u l y
N a s h v C h a t & S t L o u is .- J u ly
N e v a d a C a l & O re g o n ___ J u ly
N Y O c t & W e s te r n ____ J u ly
N o rfo lk & W e s te r n ____ J u ly
R e a d in g C o m p a n y ...___J u ly
R io G r a n d e J u n c t io n ___ J u ly
D eo 1 to J u ly 3 1 ---->Rio G .'and e S o u th e r n ___ J u ly
S t Joe & G r a n d Is la n d . . J u l y
S t L o u is S o u t h w e s t e r n ..J u ly
S ea boa rd A ir L in e ______J u n e
J u ly 1 to J u n e 30............
Texas C e n t r a l___________J u l y
Toledo & O h io C e n t r a l ..J u ly
Toledo Peoria & W estern A u g
J u ly 1 to A u g 3 1 ............
1 oledo Peoria & W e s t___ J u ly

— I n t . , R entals, & c .— — B a l. of N et E ’n gs.—
C urrent
P revious
C urrent
P revious
Y ear.
Y e ar.
Y e ar.
Y ear.
$
$
$
$
70,868
64,181
1,871
1,201
303
300
916
957
2,424
2,400
10,067
4,221
593
543
1,879
1,470
&603.052
6657,430
552,308
450,356
180,148
172,907
5,572
26,792
1,958,831
1,886,068
418,177
454,134
8,437
8.137
37,247
23,329
4,117
4,176
14,682
18,307
312,927
290,214
*481,821
d297,415
7,667
7,6^67
11,900
11,596
97,331
93,432
*18,027
*23,531
a51,756
a51,983 iedf.32,335 * d e f.8 ,4 4 1
74,056
63,356
*1 95 ,21 0
*158,151
21,898
19,246
*16,428
* 2 8 ,1 8 0
3,985
3,959
11,014
8,791
7.977
8.266
14,113
12,896
12,636
12,263
*3 ,78 9
*8,469
554,894
473,536
370,200
194,200
155,621
149,469
72,404
74,702
3,873
3,309
*1 ,38 6
*1 0,9 47
70,353
72,385
253,609
266,408
423,207
362,207
695,100
523,769
887,500
885.478
923,605
477,131
8,333
8.333
15,236
10,135
66,665
66,665
96,219
63,020
18,455
18,154
*9 ,84 3
*7,676
21,521
21,291
40,074
.3 3 ,5 9 2
178,794
____________ *134,820
____________
328,249
316,969
*56,074
*def8,778
3,954,497 3,647,608*def458,301
*992,120
2,583
2,583
17,515
24,020
42,533
38,258
*119,752
*112,069
24,240
24,771
*2,083
def736
48,166
48,739 * d e fl,0 3 3
def4,152
23,609
23,968 * d e f.3,051
def 3,417

a C harges here in c lu d e ro a d re n ta l (p aid b y lessee) a n d o ther d e d u c tio n s.
In c lu d e d In fixed charges are e x pe nd itures for renew als, a d d itio n s a n d
im p ro v e m e n ts a m o u n tin g to n il for J u ly 1907. a g ain st $144,614 in 1906.
€ These figures are a fte r a llo w in g for o ther iilco m e a n d for d is c o u n t a n d
exchange. T he su m of $10,000 is d e d u c te d every m o n th fro m s u rp lu s a n d
■placed to the c re d it o f th e renew al fu n d .
* A fte r a llo w in g for other In com e received.

Miscellaneous Companies.
---- Gross E a r n ’gs---C urrent
Previous
Year.
Year.
$
$

C om panies.
B u ffa lo Gas C o _________ J u ly
O c t 1 to J u ly 31_______
•C u m b e rlan d Tel & T e l. -b.Aug
486,264
J a n 1 to A u g 3 1 _______ 3,848,067
"C uy ah oga T elephone C o . A u g
65,875
J a n 1 to A u g 31 _______
513,575
E d HI 111 Co (B r o c k t’n )a J u ly
13,689
J a n 1 to J u l y 3 1 _______
104,968
F a ll R iv e r Gas W k s .a .- J u n e
29.397
J a n 1 to J u n e 3 0 _______
181,910
H o u g h to n Co E l L t Co . a J u ly
14,620
J a n 1 to J u l y 3 1 _______
136,302
K ey sto n e T elep h C o .a .- J u ly
86,269
L o w e ll E l L t C o rp _______ J u ly
22.397
J a n 1 to J u l y 3 1 _______
174,358
M e x ic an L t & P o w Co .ffJu ly
200,602
M in n e a p o lis Gen Elec .a - J u n e
68,573
J a n 1 to J u n e 3 0 _______
447,525
P a c ific C oast C o ________ J u ly
737,467
■Pittsburgh C oal C o ______A u g
J a n 1 to A u g 3 1 _______
P o c a h o n ta s C o ll’s C o ___ M a y
J a n 1 to M a y 3 1 ............
V S T elephone C o _______ J u ly
35,498
J a n 1 to J u ly 31_______
269,536
V ic to r F ue l C o _________ J u ly
228,562
W y o m in g V a l Gas<5cF.l a J u n e
12,907
J a n 1 to J u n e 3 0 _______
86,570

435.298
3,522,432
61,728
461,938
10,812
89,674
28,331
163,573
14,040
124,666
79,155
19,055
153,978
58,303
387,627
563,514

33.923
254,956
187.759
11,935

--- Net E a rn in g s ---C urrent
Previous
15,096
C256.401
179,154
1,453,026
28,356
242,747
4,449
40,705
11,309
64,507
4,500
63,204
41,606
6,783
59,796
118,503
35,133
213,430
115,445
579,552
3,681,984
15,900
86,078
21,098
156,382
47,437
4,483
36,332

lxxxv

.

Interest Charges and Surplus.
—I n t . , R en tals, & c .—
C urren t
P revious

Year.

Year.

— B a l. of N et E ’n gs.—
C urrent
Previous
Year.
Y ear.

C om pan ie s
$
$
C u m b e rla n d T el & T el Co. A u g
37,887
33,647
J a n 1 to A u g 31_______
307,252
257,040
C u y a h o g a T elephone C o .A u g
18,436
17,868
J a n 1 to A u g 3 1 _______
147,474
135,444
E d E l 111 Co (B ro ck to n ) J u l y
800
750
J a n 1 to J u ly 3 1 ...........
5,790
5,136
F a ll R iv e r Gas W o rk s - - Ju n e
196
514
J a n 1 to J u n e 3 0 _______
883
3,692
H o u g h to n Co E l L t C o . . J u l y
2,837
2,813
17,838
17,813
J a n 1 to J u l y 3 1 _______
L o w e ll E l L t C o rp _______J u l y
1,108
1,418
J a n 1 to J u l y 31 _______
7,258
7,276
M in n ea polis Gen F le e ..J u n e
21,208
8,908
J a n 1 to J u n e 3 0 . . . . . .
109,390
53,732
P itts b u rg h C oal C o ______A u g
236,852
262,989
J a n 1 to A u g 3 1 _______ 1,868,231
2,056,609
P o c a h o n ta s C ollieries___M ay
/1 6,556
/2 0,267
J a n 1 to M a y 3 1 _______
/83,475
/86.871
13,864
13,293
U S T elephone C o ............ J u l y
J a n 1 to J u ly 3 1 . ..........
95,912
90,490
V ic to r F u e l C o .............. . . J u l y
19,425
17,170
W y o m in g V a il Gas & Elec—
J a n 1 to J u n e 30_______
27,775
27,775
f In clu d e s s in k in g fu n d a n d preferred stock d iv id e n d .
* A fte r a llo w in g for o ther incom e received.

$

$

117,82*
141,267
1,145,774 1 ,059,87*
8,003
9,920
61,957
95,273
2,49#
3,649
21,983
34,915
9.853
11,113
55,230
63,624
2,235
1,663
42,204
45,366
5.208
5,675
52,538
45,268
16,882
13,925
140,089
104,040
187,052
342,700
1,813,753 1,239,466
d e f.656
4,904
2,603
52,426
7,234
7,746
57,965
60,470
*34,706
*29,471
8,557

d e « ,5 6 5

STREET R A IL W A Y S A N D T RACTION CO M PAN IES.
N a m e of
R oad.

Latest Gross E a rn in g s .
Week or
M o n th .

C urrent
Y ear.

Previous
Y ear.

A lb a n y & H u d s o n .. J u ly ---aA m e ric a n R y s C o . - A u g u s t ___
A u g u s t ___
B ln g Q a m to n R y ____
A p r i l ______
J u ly ..........
J u ly ______
J u l y ______
C e n tral P e n n T ra c ___ A u g u s t ___
C ha ri C on R y G a s& E J u ly ..........
C hicago & M ilw E lec. A u g u s t ___
A u 'g u s t ___
J u ly ______
J u n e _____
2d w k Sep
2d w k Sep
D u lu t h Street R y -- . 3d w k Sep
August. . . .
J u n e _____

$
42,265
294,037
150,597
20,240
183,174
17,451
23,145
75,401
67,298
122,679
67,792
34,401
67,965
6,878
134,097
16,689
192,844
41,030

121 ,939
15,103
167,350
32,183

A u g u s t ___
J u ly . . __
M ay _____
W k Sep 15

125,118
38,818
271.213
35,185

105,690
33,441
233,155
28,500

A u g u s t ___
J u ly ______
J u l y ..........
J u ly _____
J u l y ______
J u ly ..........
J u ly ..........
J u l y ____
J u n e _____
A ug u st____
J u ly _____
J u ly _____
W k Sep 14
J u ly ______
A u g u s t ___
J u ly ______
A u g u s t ___
J u ly _____
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
J u ly ..........

29,679
26,330
59,950
329,600
20,789
34,537
513,445
52,807
79,280
211,601
330,863
97,111
74,918
138,850
54,623
466,748|
216,146'
274,018,
8,700
144,419
26,732j
16,760 j
359,347:
171,146(

28,681
22,901
51,166!
262,724
17,550
27,524
469,075
50,186
_______
191,443
302,096
81,611
67,157
112,368
47,035
443,831
194 379
162,586
7,221
113,422
1 7,473
14,831
319,617
138,152

L a n d Co_
H o u s to n E lec tric C o.
Ja c k s o n v ille E lec C o.
K a n C ity R y & L lg l
Le x & In te r R y s C o .
M e tW est Side E le v .
M o n tre a l S treet R y .
N O R y & L ig h t Co.

N o rth w e ste m E le v .
O k la h o m a C ity R y ..
P ee k sk lll L ig h t & R R
P o r tla n d R y L t & P Co
P u g e t S o u n d E le c R y
R io de Ja n e iro T ram
L ig h t & P o w e r___ A u g u s t ___ 555,746|
R o c k fo rd & I n t e r u r .. J u ly ..........
6 1 ,696|
S t Jo se p h (Mo) R y L t
H e a t & P ow er C o .. A u g u s t ___
85.950
Sao P a u lo T r L t & P . A u g u s t ___ 168,993|
S a v a n n a h E lec tric Co J u n e ______
51,836;
S c h u y lk ill R y C o ____ A u g u s t ___
22,5101
S o u th Side E le v a te d - A u g u st . . .
176,463‘
S ou W isc o n s in R y Co A u g u s t ___
13,826:
S yracuse R a p T r R y . A u g u s t ___ 107,982!
Toledo R y s & L ig h t . M ay _____
173,990
T oron to R a ilw a y '____ W k Sep 21
70, >>72
T w in C ity R a p T ra n . 2d w k Sep 121,584U n lte d R R o f S an Fr_ J u n e _____ /8152.126
U n ite d R y s o f S t L ._ , A u g u s t ___ 956,2401
W e s tC h e s te r (P a) R y A u g u s t ___
16,120!
W h a tc o m Co R y & L t J u ly _______
30,394

$
40,178
274,167
131 ,434
22,011
159,928
15,477
24,074
65,205
61,727
107,089
66,259
32,630
59,058

52,881
75,634
170,016
58,224
137,235
11,819
92,346
167.847
66,558
1 19,359
448.455
897.651
9,700
23,269

J a n . 1 to latest date
C urrent
Y ear.
*

Previous
Year.
$

1 ,9~6~4~,040
934,557
85,886
1,215,961
65,907
131,357
498,693
410,752
674,283
564,321
157,587
338,686
6260,404
4,748,987
603,269
1,376.762
233,672

4,253>9.1
549,52#
1,237,183
180,822

811,889
209,124

698.65*
172,003

1,246,673

1,086,08*

239,566
140,492
377,300
2,035,918
91,325
226,936
3,381,418
302,502
366,808
1,802,852
2,157,850
441,237

227,489
122,989
325.346
1,625,594
83,26*
179.62#
3,046,563
281 ,488
_
1,606,807
1,953,961
374.433

874,836
322,867
3,532,903
1.274,443
1,374,198
68,355
1,115,773
169,119
108,973
2,629.219

761*908
286,87#
3.342.919
1,130,062
957.473
36,382
975,228
112,03*
95.265
2,253,9 79
............

4,028.730
334,686
569.923
1,357,177
283,637
139,334
1,281,648
103,253
814.043
834,881
_______
4,270,710
_______
7,185 730
90,104
194,822

1,801,772
810.857
83,413
1 062,469
59,288
139,372
449,014
376,520
536,286
557,545
146,518
289,277

285,698
543,399
1,319.943
304.008
121,676
1,142,949
83,172
700,118
784 ,*91
3 ,9 6 9 ,? 19
___ ___
6,748,837
57 ,204
149,086

a F igures for th e m o n th In b o th years In c lu d e o p e ra tio n s of the S c ra n to n
R y . , a cqu ired J a n . 1 1906. b F igure s are fro m F eb . 1. c These figures are
for c o n s o lid a te d c o m p a n y ,
d These are results for m a in lin e , f N ow in 
c ludes R a p id R y . S y s t., S a n d w ic h W in d s o r & A m h e rs tb u rg R y . a nd D tr o lt
M onroe & T oledo S h o rt L in e R y .
h These are early p r e lim in a ry returns
decrease du e to e a rth q u a k e , fire a n d strik e a m o n g em ployees, A u g . 26 to
S e p t. 5 1906.

25,790
194,721
114,398
450,021
3,296,075
25,171
139,297
21,039
148,455
37,238
4,329
26,210

a N e t earn in g s here given are a fte r d e d u c tin g taxes,
b N e t earn in g s here given are before d e d u c tin g taxes.
C Decrease due to expenses in curre d in conne ction w ith Gas C om m ission
investigation, Increased taxes a n d increased prloe fo r coal, oil, * c .
f These results are ia Mex'eaa c u rr« * c y .




[V o l .

Street Railw ay Net E arnings.— The following table gir.'s
the returns of S T R E E T railway gross and net earnings
reported this week.

H o ld s.
A u ro ra E lg in & C hicago A u g
J u l y 1 to A u g 31
C e n tral P e n n a T rac C o .. A u g
J a n 1 to A u g 31
D e tro it Ja c k s o n & C h ic a A u g
Feb 1 to A u g 31
A ug
D e tr o it U n ite d R y a
J a n 1 to A u g 3 1 . .
F t W a y n e & W a b V a lT r C o . A u g
J a n 1 to A u g 3 1 ----H o n o lu lu R a p T r & L t C o b A u g
J a n 1 to A u g 3 1 _______
M e itr e a l S t R y ___
Attg
O c t 1 t» A u g 3 1 . .

--- Gross E a r n ’gs---C urrent
Previous
Year.
Y ear.
$
$
150,597
131,434
302,849
267,231
75,401
65,205
498,693
449,014
41,688
________
243,994
686,224
615,004
4,445,504
3,969,731
125.118
105,690
811.889
698,650
29.679
28,681
239,566
227,489
329,755
300,278
3,164,399
2,794,947

--- Net E a r n in g *----C urrent
P revious
Year.
Year.
$
i
6«,777
77,134
139,603
154,478
20,867 .
14.802
#e,6#;s
101,953
10,806
..............
51,827
265.867
289.339
1,604 ,47W
1,718.853
42,671
55,071
2i67,4 &S
324,862
11 ,8*2
13,138
107,595
1A t f i t *
144,911
l,t « « .< 7 *
1,318,01#

S e p t.

2* 1907.

THE CHRONICLE.

7^5

----Gross E a rn 'g s ---- ---- Net E a rn in g s — —
C urrent
P re v io us
C urrent
P revious
Y e ar.
Y e ar.
Y e ar.
Y ear.
s
$
$
$
N o r th e rn O h io T r a c & L t.A u g
216,146
194,879
103,286
98,198
J a n 1 to A u g 3 1 _______ 1,274,443
1,130,062
538,031
452,858
N o W estchester L tC o - a - A u g
8,700
7,221
3,808
2,694
J a n 1 to A u g 31 _______
68,355
56,382
27,116
15,802
O k la h o m a C ty R y C o . . . A u g
26,732
17,473
10,232
8,351
J a n 1 to A u g 3 1 ............
169,119
112.038
62,387
50,990
P ee k sk lll L t & R R C o .a .A u g
16.760
14,831
8,960
8,219
J a n 1 to A u g 31 _______
108,973
95,265
49,745
45,941
P o r tla n d R y L t & P C o- A ug
359,347
319,617
171,313
136,748
J e n 1 to A u g 31-.......... 2,629,219
2,253,979
1,086,975 1,007,152
R io <3e Ja n e ir o T ra m w a y
b ig h t & Pow er C o ____ A u g
555,746
202,424
J a n 1 to A u g 3 1 ____ . . 4,028,730
1,318,074
Sao P a u lo T r a m L t& P C o .A u g
168,993
170,016
108,573
108,036
J a n 1 to A u g 3 1 . .......... 1,357,177
1,319,943
882,290
865,292
Syracuse R a p T ran s C o .A u g
107,982
92,346
46,191
39,249
J a n 1 to A u g 3 1 ............
814,043 700,118.
351,477
299,800
T w ih C ity R a p T ran C o b A u g
558,227
605,728
297,445
342,104
J a n 1 to A u g 3 1 ............ 3,978,826
3,683,286
2,049,666 1,969,162
U tic a & M o h aw k V a lle y .b —
A p r 1 t o J u n e 30.............
274,937
244,889
84,335
95,771
,fen 1 to J u n e 3 0 _______
505,843
443,616
166,960
170,597
.July 1 to J u n e 3 0 ............ 1,044,084
904,506
386,722
37,737
a ftfet e a rn in g s here given are a fte r d e d u c tin g taxes,
b Wet earn in g s here giv en are before d e d u c tin g taxes.

G E N E R A L B A L A N C E S H E E T J U N E 30.
1907.
1906.
1905.
1904.
Assets—
.1 92 ,31 3,36 2 191,480,157 190,622,249 184,736,442
R o a d a n d e q u ip m e n t
324,161
R e a l e s ta te _____________
315,479
324,151
321,900
2,774,370
M aterial a n d sup plies___
3,728,246
2,932,657
2,412,511
Stocks o w n e d ___________
6,753,235
6,748,267
6,756,155
6,584,068
58,785,917
B on ds o w n e d ___________ 58,856,720
53,567,282 48.056,349
__________
Net assets_______________
6,320,182
Assets In im p r o v ’t fun d 570,558
1,358,130
4 ,22 7,5 3*
A dvances________________
7,581,728
3,622,115
910,290
1,607,271
In su ra n ce f u n d _________
1,915,533
1.782,212
2,152,919
1,225,767
S urp lus d iv id e n d f u n d . .
1,360,184
1,313,827
1,269,027
P ension f u n d .
250,000
250,000
250,000
250,000
S t. L . A . & T . H . a n d
s u b ’y lines susp. acct.
3,328,300
3,328,300
3,328,300
3,328,300

I n t e r e s t C h a r g e s a n d S u r p lu s ..

T o ta l lia b ilit ie s _____ 276,973,345 266,707,099 262,399.881 263,843 833
— V . 85, p . 654,345.

Roads.

— I n t ., R entals. & c .— — B a l. of Net E ’n g t.—
C urrent
P revious
C urren t
P revious
Y ear.
Y e ar.
Y ear.
Y e ar.
$
$
5
5
26,986
24,93 >
50,148
43,838
54,494
49,878
99,984
89,725
16,575
*def5,623
106,650
__
*def53,771
116,537
106,850
*176,791
*161,919
912,549
817,055
£842,266
*817,127
6,249
5,258
*7 ,52 5
*7,195
49,137
42,060
*64,109
*55,386
67,208
59,429
77,703
82,434
524,555
434,239
693,455
673,939
43,522
40,589
59,764
57,609
339,881
321,008
198,150
131,856
26,613
23,892
*19,656
*15,412
204,135
183.043
*148,041
*119,587
115,142
114,758
182,303
227,346
921,600
889,394
1,128,066 1,079,768

R o a d s.
A u r o ra E lg in & C h lc a g o .A u g
J u ly 1 to A u g 31............
D e tr o it Ja c k so n & C h ic .A u g
F e b 1 to A u g 3 1 ............
D e tr o it U n ite d R y C o ...A u g "
J a n 1 to A u g 3 1 ............
H o n o lu lu R a p T ra n C o ..A u g
J a n 1 to A u g 3 1 ............
M o n tre a l S t R y . .............. A u g
O o t 1 to A u g 3 1 ............
N o rth e rn O h io T r a c & L t.A n g
J a n 1 to A u g 3 1 ............
S y ta «use R a p T ra n C o . . A u g
J a n 1 to A u g 3 1 ............
T w in C ity R a p T ra n C o .A u g
J im 1 to A u g 3 1 ............
V U c a & M o h aw k V a lle y —
A p r 1 to J u n e 3 0 _______
78,064
48,086
155,143
93,050
J a n 1 to J u n e 3 0 ...........U ly 1 to J u n e 3 0 ............
246,480
182,813
GJ x A fto r a llo w n g for other in com e received.

*6 ,73 2
*12,663
*141,433

*4 7 ,9 (3
*78,882
*197,295

ANNUAL REPORTS.
Illin o is

C e n tra l

R a ilr o a d .

{ R e p o r t fo r F i s c a l Y e a r e n d in g J u n e 3 0 1 9 0 7 .)
fo r

U n te n d e d e x t r a c t s fr o m th e a n n u a l r e p o r t o f t h e d ir e c to r s
i l i e y e a r e n d i n g J u n e 3 0 1 9 0 7 is g i v e n o n s u b s e q u e n t

p a g e s , w it h b a la n c e s h e e t a n d e x h ib it s .'
C o m p a r a tiv e s ta tis tic s o f th e o p e r a tio n s o f th e I llin o is C e n 
t r a l! a n d t h e i n c o m e a c c o u n t , & c . , h a v e b e e n c o m p i l e d f o r
th e ^ C h r o n ic le ”

a s b e lo w :
O P E R A T IO N S .
1906-07.
1905-06.
1904-05.
1903 04.
M iles oper. J u n e 3 0 _____
4,377
4,459
4,374
4,374
E q u ip m e n t—
L o c o m o tiv es ___________
1,240
1,193
1,158
1,086
Passenger cars__________
859
8 i3
802
787
F re ig h t c a r s . . ...................
57,601
56,227
54.764
53,576
W o r k c ars___________ . . .
2,376
2,026
1,765
1,446
O perations—
N o . of pass, c a rrie d ____ 23,441,337
22,052,673
21,645,601
22,563,613
N o . pass, carried 1 m i le .569,931 ,666 511,391.077 583,481,895 485,092,114
R a te per pass. p . m i l e . .
1.963 cts.
1.956 cts1.839 cts.
1.970 cts.
R e v fr 't (tons) m ov ed _ . 26,922,868 25,641,146 23,148.309
22,420,814
R e v . fr 't (tons) 1 m ile .o .
6.592,023
6.230,593
5,559,139
5,221,132
R a te per to n pe r m ile ___
0.577 cts.
0.556 cts.
0.587 cts.
0.607 cts.
A v . re v. t r . lo a d (t o n s ).
364
353
319
277
H a rn . per pass. t r . m ile .
$1,055
51.0682
$1.1158
51.0256
Harm, per fr 't tra in m ile .
$2.0978
51 9636
51.8711
51.6860
C ross earnings per m ile .
512,952
$11,672
511,319
510,790
a ®00s o m it t e d .
F IS C A L R E S U LTS.
1906-07.
1905-06.
1904-05.
1903 04.
Receipts—
5
5
5
5
Passenger
. . j . . . 11,187,533
10,004,041
10,729,825
9,554,743
F re ig h t
‘
................. 38,033,271
34,637,124
32,607,922
31,692,575
M a n , e x p . & in lsce ll____
7,389,829
6,995,240
6,170,902
5 ,583,818
Gross receipts fro m
t r a f f i c . . . . . ..............
O perating expenses—
M a ln t. of w a y , & c ..........
M a in t. of e q u ip m e n t ___
T ra n s p o rta tio n ..............
G e n e r a l..............................
Taxes .................................

56,610,633

51,636,405

49,508,649

46,831,136

6.851,450
9,596,007
20,213,508
1,186,742
2,217,818

6,855,173
7,705,028
1^,568,358
1,173,921
2,134,993

6,095,096
7,804,810
18,102,052
1,082,300
2,027,448

5,679,311
7,323,343
18,785,938
1,004,659
1,942,431

E xpenses o f o p e ra t’n . 40,065,525 36,437,470
35,111,706
P e. of ex p . to e a r n s . . .
(70.77)
(70.56)
(70.92)
In c o m e fro m tr a ffic ____ 16,545,108
15,198,935
14,396,943
IN C O M E A C C O U N T .
1906 07.
1905-06.
1904-05.
Net receipts—■
$
5
5
O p e ra tio n o f r a ilw a y .-- 16,545,108 15,198,935
14,396,943
In te r e s t. & c.....................
2,813,968
3,255,398
2,759,020
L8n<l o ffic e____ -________
4,607
1,591
2,488

34,735,682
(74.17)
12,095,454
1903-04.
5
12,095,454
2,675,496
41,053

" P e t a l.............................. 19.363,683
18,455,924 17,158,451
14,812,003
D isbursem ents—
_
.
_____
_
I n t . on III. C e n t, b o n d s .
3,462,395
3,467,340
3,431,035
2,961,615
R e n t of C. S. L . & N . O .
2,468.272
2,431,587
2,415,060
2,415,079
R e n t a l of D . & S. C. R R
1,238,460
1,187.193
571,243
449,482
R e n t S t. L . A . & T H _ .
507,465
507,465
507,435
520,209
R e n t o f P eoria D iv is io n .
__________
__________
98,336
136,306
Im p r o v e m e n t f u n d ___ 192,947
1,358,130
---------- --------- --D iv id e n d s (111. C e n t . ) . . (7)6,652,800 (7)6,652,800 (7)6,652,800 (6)5,702,400
F o r Im p ro v e m e n ts, & c.
3,794,987
2,806,609
1,683,886
2,579,329
D lso o u n t o n b o n d s sold__________
________ _
1,255,396
---- . . .
In s u ra n c e f u n d _________
__________
__________
500,000
-------T »o ta l.............................. 18,317,326
18,411,124
17,115,191
14,764.420
B a la n c e , s u r p lu s ...............a l .046,357
44,800
43.260
47,583
a O f th is a m o u n t $1,000,000 was transferred to profit a n d loss a n d th e
r e g a in in g $46,357 a d d e d to surplus d iv id e n d fu n d , a p p lic a b le to fu tu r e
s liv la e n d s. m a k in g th e to ta l o f said fu n d J a a e 30 1907 $ 1 ,3 8 0 ,1 8 4 , as
shtfwei l» the balance sheet below .




5

T o ta l assets
276,973,345 266,707,099 262,399,881 263,843,833
L ia b ilitie s —
S tock o u t s t a n d in g ______ 95.040.000
95,041,000 95,040,000
95.040.000
1 0 , 0 / 0 ,0 0 0
1 0 . 0 0 0 .0 0 0
Leased lines s to c k _______ 1 0 ,000.000
10
B o n d s (111. C en t. R R ) _ . 129,819,275 128,660,275 127,6 ',8,275 125,138.275
16,2 34,000 1 6,2 34 ,00 0
B o n d s (C .S tL . & N O .R R ) 16.234.000
16.234.000
5 ,008,060
2,252,994
N et lia b i li t i e s ................... 10,968,135
2,851,200
F o r d iv id e n d s ___________
3,326,400
3,326,400
3,326,400
3,160,960
3 ,16 0,9 60
4,160,960
3,160,962
P rofit a n d lo ss___________
1,607.271
2,152,919
In sura n ce f u n d _________
1,915,533
1,782,212
1,269,027
1 ,225,767
1,360,184
1,313,827
S u rp lu s d iv id e n d f u n d . .
250,000
250,000
P ension f u n d . ___________
250,000
250,000
Stock & bo nd s of S t. L .
3 ,328,300
3,328,300
3,32 8,3 00
A .& T .H .& s u b ’y lines 3,328,300
1,358 130
570,558
Im p r o v e m e n t fu n d _____

,000,000

Yazoo & Mississippi Valley Railroad.
(Report for Fiscal Year ending June 30 1907.)
The report of President H arahan , together w ith the prin
cipal tables, showing in detail the operations and fiscal
results for the year, is published on subsequent pages. We
give in addition a comparative statement for several years as
below:
O P E R A T IO N S A N D F IS C A L R E S U L T S .
1903-04.
1906-07.
1905 06.
1904-05.
1,239
1,173
1,211
1,204
Average m iles operated .
1 ,960,098
2,561,830
2,151 ,001
Passengers c a r rie d _____
2,364,200
71,187,410
79,557,365
64,780,549
79,199,916
Pass, carried 1 m ile ..
2.50 cts
2.47 cts.
2.49 cts.
2.45 cts.
R a te per pass, per m ile .
3,647,661
4,983,051
4,377.132
4,071,442
R e v . f r ’t (tons) carried .
R e v . fr ’t (tons) car. 1 m .918,668,142 775,369,968 690,867,621 599,538,760
0.824 cts.
0.923 cts.
R a te pe r to n per m lle^
0.750 cts.
0.892 cts.
24#
282
245
T ra in lo a d (rev.) to n s .
318
$7,666
$6,707
Gross earns, per m ile
$7,201
$7,159
$
$
$
E a rn in g s —
$
5,534,743
6 891 ,205
6,391,647
6,165,571
F re ig ht ________ ______ 1,613,412
1,943,686
1,781,047
Passengers_______________
1,964,573
552,545
643,881
666,192
M is c e lla n e o u s _________
560,988
T o t a l _________________
Expenses—
M a in t. of w a y , & c______
M a ln t. o f e q u ip m e n t . .
T ra n sp o rt’n & g e n e ra l. .
T a x e s ..... ............... ...........

9,499,659

8,671,250

8,670,246

7,868,335

2,221,547
1,353,324
4,104,850
393,254

2,192,339
1 ,037,646
3,759,931
369,066

1,629,916
940,741
3,818,218
363,389

1,428,422
889,229
3,436,936
341,031

T o t a l _________ —
N e t e a rn in g s .............. ......
O th e r in c o m e ...................

8,072,975
1 ,426,684
1,750

7,358,982
1,312,268
1,890

6,752,263
1 ,917,983
2,847

6 ,09 5,6 1*
1,772,717
3,55*

T ot a ', .............. ...............
I n t . p a id o n b o n d s _____

1,428,434
1,357,227

1,314,158
1,284,541

1 ,920,830
1.265,186

1 ,776,275
1 ,197,659

B a lan c e , s u r p lu s ____

71,207

29,617

578,61#

655,644

BALANCE SHEET JU N E
1907.
1906.
Assets—
$
$ '
60,657,161
59,627,992
R o a d a n d e q u ip m e n t—
563,508
M aterials a n d s u p p lie s. 453,780
372,565
A d v . f o r r a ilr ’ds in cons.
97,646
112,917
In sura n ce f u n d . . ..........
50,000
P en sion f u n d ___________
50,000

30.
1905.
$
57,810,832
412,992

1904.
s
57,326,944
542,414

493,192
50,000

251 ,12*
50,000

T o t a l ______ __ _ ______ 61,756,151
L ia b ilitie s—
6,168,400
C a p ita l s to c k ____________
Funded d e b t.
............ .. 53,363,853
1,401,494
N e t lla b ilt le s ..................
In c o m e for overdue in t.
on I n c o m e s _________
112,917
In sura n ce f u n d ____ _____
50,000
P ension f u n d ________ .
659,487
P ro fit a n d loss------

58,767,016

T o t a l _______ __________
-V. 83, p . 693. 697.

61,756,151

60,229,418

58,170 ,48#

6,168,400
52,334,685
988,260

6,168,400
50,517,525
930,325

6,168,400
50,033.637
514,444

97,646
50,000
590,426

493,192
50,000
607,573

545,61#
251,127
50,000
607.261

60,229,418

58,767,016

58.170,486

Central Railroad Company of New Jersey.
(Report for Fiscal Year Ending June 30 1.907.)
President George F. Baer .says in substance:
Renewals a n d Im pro vem ents.— E x p e n d itu re s aggre gating $1,362,962 were
charged a g a in st in com e a c c o u n t, v iz .:
S iding s a n d o ther y a rd Im p ro v e m e n ts _____________ __________________ $339 560
R e n e w a l a n d Im p ro v e m e n t of bridges-------------------------- 141,810
R ep a irs a n d Im p ro ve m en ts to docks a n d w h a rv es_________________ 403,166
R e n e w a l of sta tio n b u ild in g s a n d Im p ro v e m e n ts o f sta tio n gro un ds 186,518
Im p ro v e m e n ts at shops a n d tu rn - ta b le s------------------------ 110,521
S ignals a n d In te rlo c k in g p la n ts ___________ ______ ______________________
77,327
M is c e lla n e o u s --------------- ------- ------------------------ 103,153
New E q u ip m e n t.— T he fo llo w in g ro llin g e q u ip m e n t w as purch ase d:
1 F our-W heel s w itc h in g lo c o m o tiv e . |2,000 steel u n d e rfram e box cans.
15 passenger cars.
11,000 steel hopp er- bo ttom c o al cars.
5 c o m b in a tio n cars.
11,000 steel u n d e rfram e g o n d o la cars.
50 special ore cars.
|
T he fo llo w in g ro llin g e q u ip m e n t has been c o ntra c te d for d e liv e ry d u rin g
th e c o m in g year:
1,000 steel hopp er- bo ttom coal cars (100,000 lb s . c a p a c ity ).
5 d u m m y v e stib u le baggage cars.
F u n d e d D e b t.— T he t o ta l fu n d e d de bt J u n e 30 1907 a m o u n te d to $54,260,000, a n increase of 53,325,000. There were Issued d u r in g th e y ear
e q u ip m e n t b o n d Series “ E " , 53,500,000, a n d Series “ F , ” $ 1,1 00 ,0 00 .
There were re tire d e q u ip m e n t bonds of Series " A ” to " E " in c lu s iv e to th o
t o ta l aggregate a m o u n t of 51.270,000; $5,000 c o n v e rtib le de be nture s w cr«
ex changed for c a p ita l stock.
O f the $50,000,000 general m ortga ge 5 % bo nd s, $45,091,000 ha v e bee*
Issued, le a v in g a b a la n c e un issue d of 54,909 000, of w h ic h $29,000 a r«
reserved to cover d e b e nture bonds (due in 1908).
P ro fit a n d I.oss.— P rofit a n d loss has been cre d ite d w ith net a m o u n t o f
$64,243, as follow s: S u n d ry Item s c harged oft. $355,627, offset b y cred its
o f $419,870, v iz .: P rofit o n la b o r a n d m a te ria l c harged to others a n d d is 
c o u n ts, $302,443; profit on sales of real estate ($14,646) a n d m isc e lla n e o u s ,
$26,508), $41,454; b a la n c e o f In co m e a c c o u n t fo r c urren t y e a r, $75,973.
H a rn ln g s , & c .— T he gross earnings ha v e Increased $2,586,314, or a b o u t
1 1 .2 % over th e preceding fiscal year. Taxes Increased $555,847, or
.9985 % . T he average revesuo to«na.g« per tr a in » l l e w as 519.5 tows, a
doorcase of .9 to n*.

7.-6

THE CHRONICLE.

C o n d itio n of P ro p e rty .— T he e q u ip m e n t Is s t ill b e in g m a in ta in e d a t a h ig h
degree of efficien cy, $2,755,563 h a v in g been ex pe nd ed fo r th is purpose d u r 
in g th e y ear.
T he w o rk of e x tin g u is h in g th e fire in th e o ld m in e w ork in g s u n d e r our
freight yards a t S c ra n to n has been c o n tin u e d , a n d there w as expe nd ed
a p p ro x im a te ly $2,938 d u rin g th e y ear o n th is w o rk .
T he p h y sic al c o n d itio n of th e p ro p e rty has been g re a tly im p ro v e d , as
evidenced by: R e p la c in g w ood en a n d lig h t iro n bridges w ith stronger
structures; a d d itio n a l signals a n d in te r lo c k in g p la n ts ; new sidings a n d
a lte ra tio n s In ex istin g yards; new freight a n d passenger yards; im p ro v e 
m e n ts in sta tio n b u ild in g s a n d gro un ds; re p a irin g a n d im p ro v in g docks
a n d w harves; 283,809 ties renew ed; 22 m iles o f tra c k re-ballasted w ith
broken stone; 80.89 m iles of tra c k re-laid w ith steel ra ils of 90-lb. section;
60.90 m iles o f tra c k re-laid w ith second-hand ra il, chiefly o f 70, 80 a n d
85-lb. section.
F illin g section N o . 2 of th e tlda-w ater flats a t Jersey C ity w as c om m en c ed
in 1906, a n d d u rin g th e p a st year 1,539,365 c u b ic yards of fillin g w as p la c e d
a t a cost of $166,602.
W o r k o n th e new coal s h ip p in g pier a t E liz a b e th p o r t is p r a c tic a lly c o m 
p le te d .
D u r in g th e year $160,506 h a v e been ex p e nd e d , m a k in g t o ta l
ex pe nd itures to J u ly 1 1907, $336,126.
W o rk of Im p ro v in g o u r ferry fa cilitie s a t foot o f L ib e rty S treet, N e w Y o r k
C ity , is w e ll un d e r w a y , a n d d u rin g th e year there were expe nd ed $157,874,
m a k in g t o ta l ex pe nd itures to J u l y 1 1907, $172,565.
There w as c harged to In com e d u r in g th e y ear $1,362,061 fo r renew als
$ n d im p ro v e m e n ts , d e ta ils o f w h ic h are show n a b o v e , a n d in a d d itio n
there to there hav e been set aside o u t of th e su rp lu s fo r th e c u rre n t year
fu r th e r sum s as follow s: $1,000,000 to th e c re d it of “ renew al a n d Im p ro v e 
m e n t f u n d ” to m eet e x tra o rd in a ry ex p e n d itu re s in th e renew al a n d I m 
p ro v e m e n t of bridges, do ck s, w harv es a n d o th e r s im ila r w o rk d u r in g th e
c o m in g year; $1,150,000 to th e c re d it o f “ e q u ip m e n t f u n d " to m eet cost
o f freight e q u ip m e n t a lre a d y c o n tra c te d for d e liv e ry d u r in g th e c o m in g year.

The results for four years were as follows:
O P E R A T IO N S , E A R N IN G S , E X P E N S E S , C H A R G E S , E T C .
1905-06.
1906-07.
1904-05.
1903-04.
610
610
602
369

M iles o p e ra te d___________
Operations —

20,513,054
Passengers c a r r ie d ______ 22,149,702
18,517,577
17,386,249
Passengers carried 1 m ile293,329,339 270,282,470 234,769,703 221,774,098
1.451 cts.
1.465 cts.
R a te per pass, per m ile .
1.447 cts.
1.479 cts.
F re ig h t tons carr. (re v .). 28,063,145
25,416,139
22,843,429
21,313,977
F re ig h t tons carr. 1 m ile . 2112260631 1921660405 1852697593 1740945731
0.839 cts.
R a te per to n per m ile ___
0.844 cts.
0.828 cts.
0.845 cts.
520
507
R e v . tons per tra in m ile .
519
502
F re ig h t earns, per tr . m _
$4,384
$4,369
$4,204
$4,247
$1.02
P ass, earns, per tr a in m _
$1.06
$0.93
$0.90
Gross earnings per m ile .
$37,308
$33,622
$31,973
$28,814
E a r n in g s —
$
$
$
$
M e r c h a n d is e ____________
9,288,920
8,671,217
7,471,038
6,960,722
C o a l _____________________
8,534,366
7,462,065
7,885,388
7,741,409
Passengers_______________
4,247,359
3.920,552
3,441,202
3,280,878
520,395
372,603
353,451
Express a n d m a il.
336,287
96,594
181,528
108,037
102,657
M ls c e lla n e o u s ____
T o ta l e a rn in g s_____ 22,772,568
Expenses—
M a in te n a n c e of w a y , <5cc.
1,918,618
M a in te n a n c e of e q u ip ’t .
2,755,563
C o n d u c tin g tra n s p o rt’n .
6,349,755
G e n era l a n d t r a f fic ______
835,006

20,523,031

19,259,117

18,421,953

1,738,672
2,573,495
5,594,899
750,110

1,696,753
2,260,196
5,307,284
712,257

1,728,131
2,085,591
5,317,280
714,578

T o ta l ex p e n se s____ 11,858,942
P e r cent exp. to e a r n s ..
(52.08)
N e t e a rn in g s____________ 10,913,626
O th e r ope ration s (net) . _
609,659
In c o m e fro m in v e s tm ’t s .
1,175,653

10,657,176
(51.93)
9,865,855
455,368
1,151,197

9,976,490
(51.81)
9,282,626
447,148
1,119,197

9,845,579
(53.44)
8,576,374
341,786
1,155,479

T o ta l in c o m e ...........
D e d u ct—
I n t . on bo nd s a n d g u a r’s
M iscellaneous in te r e s t ..
R e n ta ls leased lin e s ____
Taxes ___________________
R e n e w a ls , im p r o v ’ts, &c
R e n e w a l & in ip r o v ’t f d .
D e p re c ia tio n of e q u lp ’t .
D iv id e n d s ( 8 % ) ________

12,698,938

11,472,420

10,848,971

10,073,639

2,945,800
92,489
2,765,213
1,112,558
1,362,061
1,000,000
1,150,000
2,194,844

2,865,087
4,539
2,386,380
556,710
1,254,444
700,000
1,419,355
2,194,424

2,810,420
19,786
2,528,305
458,041
1,072,702

2,789,507
76,983
2,406,995
473,951
665,146

1,625', 000
2,193,704

1 ,o’o"o",000
2,193,464

10,707,958
141,016

9,606,046
467,593

T o t a l .......................... 12,622,965 11,380,939
91,481
75,973
S u rp lu s fo r y e a r________
B A LA N C E SH EET JU N E
1906.
1907.
$
R a ilr o a d a n d e q u ip m e n t 68.327,481 65,814,539
Securities o w n e d ________ 25,533,307 23,347,382
573,379
A dv a n ce s for c o nstruc ’n
1,712,311
100,000
In su ra n c e f u n d . . .......... ..
100,000
1,747,993
S u p p lie s a n d m a t e r ia ls ..
1,588,412
1,138.644
C ash ____________________
1,663,558
1,186,633
D u e fro m a g e n ts ________
1,414,537
1,992,957
D u e fro m ra ilro a d s, &c_
2,076,425
1,699,930
O th e r cos. & In d iv id u a ls
2,401,461
3,500
B ills receivable__________
_______
309,593
D efe rre d, & c., a c c o u n ts .
303,099

^ sscts_

$

30.
1905.
$
63,528,480
21,788,277
84,578
100,000
1,283,461
2,749,418
1,049,289
1,532,449
1,335,481
749,335
118,846

1904.
$
63,553,838
22,856,122
247,678
100,000
1,328,339
1,771,275
920,818
1,528,042
1,007,803
1,744,614
120,329

T o ta l assets________ 105 ,120,591
L ia b ilitie s —
C a p ita l s to c k ____________ 27 ,436,800
B o n d s (see "Ry.<5c I n d . ”
Section) ______________54 ,260,000
988,225
In te re st o n b o n d s ............
1,825
R e n t a l s __________________
V ouchers, pay-rolls, & c .
4 ,347,631
651,605
D u e ra ilro a ds a n d cos___
O th e r cos. & In d iv id u a ls
2 ,118,223
548,736
D iv id e n d d u e ___________
Taxes ___________________
2 ,227,525
E q u ip m e n t a c c o u n ts ___
E q u ip , deprec’n f u n d ___
1,,150,000
182,773
In s u ra n c e reserve f u n d .
Renew al & Im p t. f u n d ..
1, 415,568
211,805
M is c e lla n e o u s ___________
P ro fit a n d loss___________
9, 579,874

97,914,550

94,319,615

95,178,859

27,431,800

27,425,800

27,418,800

50,935,000
995,813
965
2,482,965
1.206,337
1,243,750
548,636
1,278,321
_______
1,217,568
148,989
700,000
208,774
9,515,631

50,361,000
1,070 849
6,905
2,209,273
431,330
582,702
548,516
1,060,160
_
1,063,968
219,330
128,553
9,211,227

51,317,100
1,126,774
6,685
2,880,140
295,563
434,405
548,376
935,732
91,920
1 ,000,000
187,448
60,074
136,614
8,739,227

T o ta l..................... ...1 0 5 ,1 2 0 ,5 9 1
— V . 8 5. p . 721.

97,914,550

94,319,615

95,178,859

'

W heeling & Lake Erie Railroad
(Report for Fiscal Year E nding Ju ne 30 1907.)
President F. A . Delano, Chicago, Aug. 16, says:
General R esu lts.— T he o p e ra tin g revenues fo r th e fiscal y e a r en de d J u n e
30 1907 were $6,1 24 ,2 07 , a n Increase of $805,405; th e o p e ra tin g expenses
were $4,1 25 ,3 70 , a n increase of $363,314, a n d th e n e t o p e ra tin g re v e n u e
was $1,998,837, an increase of $442,191.
I t w as th e m ost successful year
In th e h isto ry of th e c o m p a n y a n d it w ill be observed t h a t , w ith a n increase
o f 1 5 .1 4 % in gross ea rn in gs, there w as a n increase of 28.41 % in th e n e t
earn in gs, a lth o u g h th e pro perty has been n o t o n ly w e ll m a in ta in e d b u t in
m a n y respects m u c h Im p ro v e d .
Im pro ve m en t P l a n .-— T he last a n n u a l report c o n ta in e d f u ll e x p la n a tio n s o f
th e fin an c ia l provisions m a d e for a d d itio n s a n d Im p ro v e m e n ts to the p r o p e r ty ,
b u t th e u n sa tisfa c to ry m o n e ta ry c o n d itio n s t h a t pre v aile d d u r in g th e
g reater p o rtio n of th e fiscal year prev en te d th e m a n a g e m e n t fro m fu lly
a c c o m p lis h in g w h a t was In c o n te m p la tio n a year ago. W h e n e v e r th e c o n 
d itio n s referred to change for the better a n d the fin a n c ia l prov ision s c an be
m a d e a v a ila b le , w ith o u t too great sacrifice, the w o rk of Im p ro v in g th e p r o p 
erty a n d Increasing th e fa cilitie s w ill be resum ed, w ith th e c o n fid e n t e x 
p e c ta tio n of Increased traffic a n d revenues.

First Vice-President and General Manager B. A. W orth
ington, writing from Pittsburgh on Aug. 5, says:
General Results.— These fa v o ra b le (net) results h a v e la rg e ly been b r o u g h t
A bo ut b y greater to nn a g e h a u le d In cars a n d tra in s , w h ic h re sulted In ra isin g




[V «L .

LXXXV.

earnings per fre ig h t tr a in m ile in th e pa st tw o years 78 cen ts, or 37 % , w h ile
th e cost o f ru n n in g a tr a in one m ile w as increased o n ly 27 c en ts, or 16 % .
T he gross earnings per m ile o f road ope rate d fo r th e fiscal year Just closed
were $13,850, as co m p a re d w ith $12,029 for th e previous y ear a n d $10,393
for 1905, a n increase of 1 5 .1 4 % over 1906 a n a 3 3 .2 6 % over 1905. Met
earnings pe r m ile of roa d were $4,522. as c o m p a re d w ith $3,522 for th e
prev ious year a n d $2,164 fo r th e fiscal year e n d in g J u n e 30 1 9 0 5 ,or a n in 
crease of 28.41 % over 1906 a n d 108.98 % over 1905. T he ra tio o f o p e ra tin g
expenses d e c lin e d fro m 79.19 % tw o years ago to 70.73 la s t year a n d 67.36 %.
for th e fiscal y ea r ju s t c lo se d .
F re ig h t T ra ffic .— E a rn in g s fro m fre ig h t tra ffic a m o u n te d to $5,4 4 0 ,7 2 7 .
a n increase o f $800,877 over 1906 a n d $1,628,267 over 1905. C oal tra ffic
c o n trib u te d 47 % o f th e earnings o f 1907; 41 % in 1906 a n d 44 % in 1905.
T he average freight receipts per to n m ile were 4.81 m ills In 1907; 4.79 m ills
in 1906 a n d 5.03 m ills in 1905.
T he n u m b e r of to n s h a u le d on m ile in 
creased 1 7 % over la s t y ear, h a n d le d b y ru n n in g o n ly 3.71 % m ore freight
tr a in m iles. C o m pa re d w ith 1905, tons h a u le d one m ile Increased 4 9 % ,
w h ile tra in m ileage w as b u t 4.22 % greater. T he tons of fre ig h t, in c lu d in g
c o m p a n y , per tr a in m ile were 604.94 In 1907, as com p a re d w ith 537.65 In
1906 a n d 422.48 In 1905, a n increase In tw o years of 43 % . T ons of freight
per lo a d e d car were 31.39, as c o m p a re d w ith 28.94 In 1906 a n d 26.14 In
1905, a g a in over th e la tt e r year of 20 % .
E a rn in g s pe r fre ig h t tr a in m ile
were $2 91 in 1907, $2 57 in 1906 a n d $2 13 In 1905.
Passenger T ra ffic .— E a rn in g s fro m passenger tra in s , in c lu d in g m a il a n d
express, were $608,000, an increase o f $7,800 over 1906 a n d a decrease o f
$46,366 fro m 1905, p r in c ip a lly d u e to decreased receipts per m ile , v o lu m e of
passenger tra ffic In 1907 be in g 7 % greater th a n in 1906 a n d p r a c tic a lly the
sam e as In 1905.
T he average receipts per passenger per m ile were 1.66
cents in 1907; 1.81 cents In 1906 a n d 1.84 cents in 1905, th e de clin e in 1907
be in g d u e to th e 2-cent passenger la w in O h io .
O perating Expenses.— M a in te n a n ce of w a y a n d structures decreased
$64,074, or 8 % , fro m prev ious year. T he ro a d b e d a n d tra c k were w e ll
m a in ta in e d ; 21.32 m ile s of 90-lb. r a il were la id a n d 4.1 m iles were re la id
w ith 70-lb. ra il, releasing 56-lb. ra il.
There were 105,667 ties p u t In m a in
tra c k a n d 90.73 m ile s o f tra c k were b a lla s te d w ith gravel.
Im provem ents.— N in eteen in d u s tria l tracks were c o m p le te d , a ggre gating
about 4
m iles.
I n C le v e lan d a n o ld w ooden trestle has been fille d a t
th e passenger sta tio n ; asing le - trac k ste e ld e c k girder bridge has been erected
a t F a c to ry S t.; a t H a rriso n S t. a double-track steel girder bridge has be en
c o m p le te d ; th e c ity has separated grades a t Jefferson S t.; th e car d u m p e r
has been finished a n d p u t In o p e ra tio n .
E ig h t p a ssin g trac k s were c o m 
p le te d , a ggre gating 4 m ile s. There were 23 m ile s o f new y a rd track s a n d
5 m iles o f a d d itio n a l lo a d in g a n d te a m tracks c o m p le te d a t v arious p o in ts .
New E q u ip m e n t.— D u r in g th e year 2,009 new g o n d o la coal cars, a ll of
50-tons c a p a c ity , were a d d e d to th e e q u ip m e n t, th e average c a rry in g c a 
p a c ity of a ll fre ig h t cars a t th e close of th e y ear b e in g 36.8 to n s , aB c o m 
p a re d w ith 34.5 tons on J u n e 30 1906.
Need of D ouble- T racking, & c.— T he d e n s ity of tra ffic on th e m a in lin e
betw een P itts b u rg h J u n c tio n a n d H u ro n J u n c t io n d u rin g th e busy m o n th s
o f th e pa st year has been a t th e ra te of over 7,000,000 to n m iles per m ile o f road
per a n n u m , a n d we are now u p to a b o u t th e c a p a c ity o f a single tra c k ra il
road for ec on om ica l m o v e m e n t.
W h e n th is p o rtio n of th e lin e can be
d o u b le trac k e d a n d th e low -grade “ cut-off” betw een O rr v ille a n d B o liv a r,
c o m p le te d , re d uc in g th e m a x im u m g ra d ie n t fro m 1 % to 0 .4 % , c u ttin g out.
he lper service over th e M a ssillo n H i ll, th e ea rn in g c a p a c ity of th e ro a d w ill
be m a te r ia lly Increased a n d s u b s ta n tia l o p e ra tin g econom ies can be effected.
C on struction E xpen ditu re s (aggregating $2,153,486) for Y e ar end. J u n e 30 '07.
N e w m a in lln e — S u g a rC re e k
I R a il be tte rm e n ts & b a lla s t .$168,043
& N o rth e rn R R ___________ $ 85 6,8 65 1B u ild in g s , bridges, & c______ 105,642
Brew ster
im p ro v e m e n ts —
! D ocks (ln c l. m a c h in e r y )___ 441,373
S u g a r Creek & N o r t h . R R .
1 4 ,0 1 1 1L a n d a n d r ig h t o f w a y ____ 154,498
14,314
N ew passing tra c k s __________ 6 4 ,3 9 5 1 M is c e lla n e o u s _______________
27,366Y a r d a n d other tra c k s ______ 306.978 |E q u i p m e n t __________________

The coal mines in operation on the company’s line June 30
1907 had a total producing capacity, as recently estimated
by the mine owners, of 35,400 tons per day, against 27,830tons per day on June 30 1906. (Compare V. 83, p. 1288.)
1907
1906

R o llin g Stock on J u n e 30.
Locomotives.
P ass. C ars.
F re ig h t C ars.
206
11,854
77
207
77
12,001

W ork C ars.
687
639

O P E R A T IO N S A N D F I S C A L R E S U L T S .
1905-06.
1906-07.
1904-05.
442
442
A verage revenue m ile a g e _____________
442
O perations—
8,571,242
9,608,590
6,498,935
T o ta l to nn a g e (r e v e n u e )............. ........
T o ta l to n n a g e one m ile (revenue) . . 1 ,130,880,732 969,103,622 757,775,089
1,802,465
1,793,651
F re ig h t tr a in m ile s ___________________ . 1,869,406
604.94
537.65
422.48
A verage revenue train - loa d (tons) —
0.481 cts.
0.479 cts.
0.503 cts.
R e v e n u e per to n per m ile _________
$2 91
$2 57
$2 13
R e v e n u e per tr a in m i l e ............ ...........
1,004,986
898,954
886,743
Passengers c arrie d___________________
26,206,472
28,027,623
Passengers carried one m ile ------ . 27,950,502
1.66 cts.
R e v e n u e per passenger per m ile ___
1.81 cts.
1.84 cts.
$13,850
$12,029
$10,393
Gross earnings per m ile of r o a d ____
$2,163
N e t earnings per m ile of r o a d _______
$4,520
$3,520
$
E a r n in g s —
$
$
1,677,646
1,915,983
C oal fr e ig h t___________________________
2,558,969
2,134,814
G eneral fr e ig h t----- ------------ . 2,881,759
2,723,869
534,410
464,736
466,748
Passenger_____________________________
112,597
98,947
99,046
M a ll a n d express---------------- 136,13a
119,796
113,155
O th e r sources-------------------T o ta l________________________________
Operating Expenses—
C o n d u c tin g tr a n s p o r ta tio n _________
M a in te n a n c e of w a y a n d s t r u c tu r e s ..
G eneral e x p e n s e s ----------------Per cent o f expenses to e a rn in g s .
O th e r Incom e .
T o ta l . .
D educt—
In te re st on e q u ip m e n t o b lig a tio n s ___
R e n ta l o f e q u ip , from W a b a s h R R . .
O th e r re n ta ls ----------- --------- In te rest a n d d is c o u n t-----------

6,124,207

5,318,801

4,595,606-

2,197,809
1,041,572
728,469
157,520

1,951.802
871,930
792,543
145.880

2,015,119
763,899
732,228
127,889

4,125,370
(67.36)
1,998,837
120,431

3,762,155
(70.73)
1,556,646

3.639.135
(79.19)
956,471
— —

2,119,268

1,556,646

956,471

1,033,030

904,948
*60,103
187,599
_______
115,913
195,788

617.870

119,008
229,722

1,464,351
1,787,039
su r.3 3 2 ,229 sur. 92,294

1,149,831
d e f.193.360

226,917
194,703
125,369
207,020

183,231

n e q u ip m e n t o b lig a tio n s c harged to
cost of pro p e rty In pre v io us y ea rs.
30) C O N D E N S E D F R O M G E N E R A L
i SHEET.
1907.
1906.
1905.
$
$
Assets—
$
58,124,651
56,920,472 •52.330,266
Cost of road a n d fe q u lp m e n t.
1,200,060
■ »
418,719
333,281
319,464
Cost o f P itts b u rg h L ls b . & W e s te r n ..
_______
Cost of L E . Y o u n g s to w n & S o u t h . .
469,274
• 100,779
478,821
311,907
667,333
M aterials a n d s u p p lie s ------------510,331
495,383
502,693
Stocks a n d bonds o w n e d ----------3,575,319
New e q u ip m e n t In suspense..... ...........
3,065,500
3,314,500
1,150,203
A dv an ce s for c o n s tr u c tio n ---------1 .362,212
1.355,137
299,185
658.829
2,544,365
Cash on h a n d --------------------___
160,769
160,769
B ills receivable----------- ------- 146.016
270,549
283,631
D u e from a g e n ts------------- ----8 ,6 0 0
8,380
8,592
D u e fro m U . S . P . O . D e p a rtm e n t- .
817.871
1,077,745
D u e from ra ilroa ds a n d i n d i v id u a ls ..
699,767
5,304
D ue from P a cific E x p re s s!C o -----5,237
4,847
28,679
11,608
26,668
M iscellaneous . . . -----------------

F IN A N C IA L

E X H IB IT

es

JU N E

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

67,353 411

6 7 ,2 9 1 .329 • 59,588,977

S e p t.

28 1907.]

THE CHRONICLE.

1907.
1906.
L ia b ilitie s —
$
S
C o m m o n s to c k _________________________ 20,000,000
20,000,000
F irst prefert-ed s t o c k . . . _______________
4,986,900
4,986,900
S econd preferred s to c k ________________ 11,993,500
11,993,500
B on ds o u ts ta n d in g ’.......... ............. ........... 15,000,000
15,000,000
Three-year g o ld no te s__________________
8,000,000 8,000,000
E q u ip m e n t tru s t o b lig a tio n s __________
3,065,500
3,314,500
B ills p a y a b l e ....................... ......................
1,277,575
1,377,575
V ouchers a n d pay- rolls________________
1,419,442
1,329,017
R a ilr o a d s a n d in d iv id u a ls ____________
312,748
263,771
In te re st d u e ________________________ _
84,457
152,097
In te re st a ccru ed, n o t d u e ____________
367,029
365,853
T ax eajaccrue d, n o t d u e _______________
107,235
101,320
P ro fitja n d loss............................................
739,025
406,796
T o ta l lia b ilitie s ..................................... 67,353,411
— V .J8 5 , p . 655.

1905.
$
20,000,000
4.986,900
11,993,500
14,621,000
___________
3,575,319
2,301,575
1,233,564
221,773
28,502
213,815
98,526
314,502

67,291,329

59,588,977

Nashville Chattanooga & St. Louis R ailw ay.
(R e p o rt fo r F is c a l

Y e a r e n d in g J u n e

30

1 9 0 7 .)

The report, signed by Chairman E . C. Lewis and President
J . W . Thomas Jr., says in part:
• General R esu lts.— T he increase in percentage o f expenses to ea rn in gs fo r
th e past tw o years has been on a cc o u n t o f 51,289,421 expe nd ed in 1905-06
a n d 51,527,158 ex pended in 1906-07 fo r a d d itio n s to p r o p e r ty , in c lu d e d in
o p e ra tin g expenses.
D e d u c tin g these a m o u n ts , th e percentage of o p e ra t
in g expenses was fo r 1905-06, 63.53, a n d for 1906-07, 67.03, in s te a d o f
75.13 a n d 79.51 re spectively.
• W h ile th e gross earnings for th e year 1906-07 increased 5879.03 p e r m ile ,
th e o p e ra tin g expenses increased 51,095.92 pe r m ile .
T his is la rg e ly a c 
c o u n te d for b y th e a d v a n c e in wages a n d cost o f m a te ria ls .
■ Additions to P ro p e rty .— These aggregated 51,527,158, th e le a d in g ite m s
being:
S id e tra c k s ___________________540 1,6 59 1Passenger e q u ip m e n t _______ 549,273
L o c o m o tiv e e q u ip m e n t____ 1 3 6 .38 1 1F re ig h t e q u ip m e n t -------- 798,665
k • E q u ip m e n t.— T en lo c o m o tiv e s were p u rch ase d , a t a cost of 5152,231, a n d
one s o ld , m a k in g th e t o ta l n u m b e r 249. T he to ta l n u m b e r of fre ig h t cars is
9 ,53 8, of w h ic h 950 are 40-ton, 6,601 30-ton a n d 1,657 20-ton c a p a c it y ,
a n d 330 cabooses. T he e q u ip m e n t has been Increased by 6 passenger
coaches, 511 b o x cars, 500 coal cars a n d 19 cabooses. 55 stock cars w ere
c o nv e rted in to coke cars.
• Ro'ad D e p a rtm e n t.— M a n y im p ro v e m e n ts , necessitated b y th e g ro w th of
tra ffic a n d eco n o m ica l o p e ra tio n , h a v e been c o m p le te d , a n d others h a v e
been be gun . T he t o ta l e x p e n d itu re for m a in te n a n c e of w a y a n d im p r o v e 
m e n ts was 52,243.863, a n average of 51,824 per m ile of m a in lin e .
There were 29.60 m iles of new 80-lb. steel ra il la id in m a in lin e , re p la cin g
lig h te r steel, th e cost be in g charged to repairs.
W eight of R a lls in M a i n Track Owned a n d Operated on J u n e 30 1907.
52-lb.
56-lb.
58-lb.
60-lb.
6 8 -lb.
80-lb. Other. TotalM iles o w n e d - ..157
67
250
6
134
216
9
839
M iles lease d _______
133
3
114
80
61
...
391
W* There were 590,497 cross-ties a n d 227 sets o f sw ltch-tles used in renew als
a n d 113,716 cross-ties a n d 284 sets o f switch-tle3 used in Im p r o v e m e n ts .
182,286 c ub ic yards of b a lla s t were used a n d 2,699 lin e a l feet of trestle
tille d .
T he tra c k la y in g on th e new yards a t C ravens a n d H ills P a r k h a s
been a lm o s t c o m p le te d , w h ic h g re a tly fa c ilita te s th e h a n d lin g o f tra ffic a t
C h a tta n o o g a a n d A t la n t a , respectiv e ly.
(T he report also describes th e
w o rk do ne on bridges, trestles a n d b u ild in g s .— E d .)
E x ten sio n s.— T he N u n le y R id g e C oal C o ., w h ic h ow ns a b o u t 5,000
acres of coal la n d s a t P ry o r R id g e . M a rlo n C o ., T e n n ., h a v in g c o n tra c te d
to ship n o t less th a n 50,000 tons of co al, coke a n d o ther fre ig h t per a n n u m ,
th e ra ilw a y has agreed to c o ns truct a b ra n c h lin e fro m a p o in t a b o u t one
m ile fro m T racy C ity to th e coal fields, a distan c e o f a b o u t 4 yi m iles.
O P E R A T IO N S A N D F IS C A L R E S U L T S .
1906-07.
1905-06.
1904-05.
1903-04.
M ile s ope rate d J u n e 3 0 - .
1,230
1,226
1,226
1,201
E q u ip m e n t .a —
249
240
234
224
L o c o m o tives ___________
Passenger cars___________
226
220
214
201
F re ig h t cars______________
9,538
8.508
8,049
7,740
O th e r cars_______________
44
42
39
32
O perations—
. _ _
2,107,966
2,089,720
1,947,102
Passengers c a rrie d ______ 2,490,018
P ass, carried 1 m ile ____ 91,720,147 84,795,942
87,692,940 80,860,145
R a te per pass, per m ile .
2.56 cts.
2.55 cts.
2.45 cts.
2.44 cts.
F re ig h t (tons) c a r r ie d ..
5,931,830
5,603,498
4.950,386
5,321,052
F re ig h t (tons) 1 m i l e . -1,010,977,702 903,406,005 796,272,087 849,295,187
R a te per to n per m ile ___
0.89 cts.
0.9 cts.
0.9 cts.
8.8 cts.
Gross earnings per m ile .
59,950
59,071
58,249
58,498
E a rn s, per pass. tr . m ile
51-17
51.15
51.16
51.08
E a rn s , pe r fr ’t t r . m ile ,
51-89
51-85
51.85
51.92
a A lso ow ns 2 s te a m e rs. 3 tran sfer ba rg e s, 1 w h a rf b o a t .
E a r n in g s —
5
5
5
Passengers .....................
2,407,401
2,207 804
2,192,832
F re ig h t .
............... 8,967,426
8,104,876
7,187,463
M a ll! express, re nts, &c863,645
808,302
732,761

5
2,023,032
7,504,730
678,261

T o ta l gross earnings-Expenses—
M a in te n a n c e of w a y ____
M a in t. of equipm en t- - C o n d u c t’g tra n s p o r ta t'n
G e n e ra l
..............
A d d . to p r o p - & e q u ip ’t-

12,238,472

11,120,982

10,113,056

10,206,023

1,737,619
1,696,418
4,501,038
267,927
1,527,159

1,601,666
1,338,283
3,874,606
250,937
1,289,421

1,540.724
1,270,008
3,681,996
242,187
817,735

1,456,792
1,136,968
3,655,599
229,472
1,102,200

T o ta l expenses-..........
P . c. of ex p. to earningsN e t e a rn in g s____________
In c o m e fro m ln v e stm 'ts-

9,730,161
(79.51)
2,508,311
18,400

8,354,913
(75.13)
2 766,069
18,455

7,552,650
(74.68)
2.560,406
18,931

7,581,031
(74.28)
2.624,992
18,297

T o ta l In c o m e .............. Disbursem ents—
I n t e r e s t - ...’ ............ .........
Taxes .................-.............
R e n t a l s ..............................
B o n d s re tire d a n d m is c .
D iv id e n d s on s to c k ____

2,526,711

2.784,524

2,579,337

2,643,289

947,640
220,231
626,460
26,000
(6)600.000

950.680
218,990
624,862
36,000
(5)500,000

955,980
218,754
625.878
36,000
(5)500,000

956,643
225 014
625,878
67,628
(4)400,000

T o ta l d is b u r s e m e n ts ..
2,420,331
2,330,532
2,336,612
B a la n c e , surp lus - - ..........
106,380
453,992
242,725
C O N D E N S E D B A L A N C E S H E E T J U N E 30.
1907
1906.
1905.
Assets—
5
5
5
R o a d a n d e q u ip m e n t .. . 28.140,103
28.140,103
28,140,103
S ecurities o w n ed , a t cost
888,257
882,792
904,245
R e a l e s t a t e ____________
170,413
156,528
150,792
M a te ria ls a n d sup p lie s.831,209
973,193
569.281
D u e from sta tio n agents
436,115
301,563
251,744
N otes re ce iva ble..............
137.910
38,884
25,827
T raffic b a la n c e s________
56,031
35,605
44,294
A c co u nts re ce iva ble____
369,529
343,654
325,120
C ash on h a n d ...................
1,761,644
1,477,165
997,377
U n a d ju s te d c la im s ..........
86,037
58,141
105,135
P a d . & M. D iv im p ’ts----------------

2,275,163
368,126

T o ta l ..............................
L ia b ilitie s —
C a p ita l s to c k .....................
F u n d e d d e b t .....................
C o u p . & o th e r in t. a ccr’d
D iv id e n d s p a y a b le ______
D iv id e n d s u n c la im e d ___
A u d ite d vouchers, p a y 
r o lls & a cc’t s p a y a b le .
T raffic b a la n c e s ............
R e s ’ve for d o u b t fu l acc'ts
Taxes a cc ru e d , n o t d u e .
P ro fit a n d lo ss............ --• T o t a l ..............................
— V . 85, p . 403.




1904.
5
28,077,699
934.398
162,704
603,245
271,495
16 757
41.908
291,286
855,807
159,878
177.047

32,877,247

32.407,627

31,513,918

31.592,224

10,000.000
16,005,000
393,205
300,000
19,596

10,000,000
16,019,000
396,500
250,000
19,288

10,000,000
16,088,000
396,745
250,000
18,947

10.000,000
16,121,000
400.143
200,000
18,493

1,489,486
1,252,441
812,619
212,319
115,637
64,689
35,319
38.818
29,957
110,000 110.000
_____________
4,312,322
4,205.942
3,852,961

770.741
89,600
101,359
_______
3,890,889

32.877.247

32,407.627

31,513,918

31,592,224

787
R e a d in g

Com pany

CB a l a n c e S h e e ts o f J u n e 3 0 1 9 0 7 . )
T h e t e x t o f th e a n n u a l r e p o r t a n d th e c o m p a r a tiv e s ta te 
m e n t s o f e a r n in g s w e re g iv e n in t h e “ C h r o n ic le ” o f S e p t . 2 1 ,
pages 716, 726.
T h e b a la n c e s h e e ts o f J u n e 3 0 fo llo w :
R E A D I N G C O M P A N Y B A L A N C E S H E E T J U N E 30.
Assets—
R a ilr o a d e q u ip m e n t ................... .............
F lo a tin g e q u i p m e n t ___________________
E q u ip m e n t a c c o u n ts_________________
R e a l estate_____________ ______ _________
P h ila . & R e a d . R y . bo nd s o w n e d ____
B on ds of s u n d ry c o m p a n ie s ___________
P h ila . & R e a d . R y . stock o w n e d ______
P . & R . C. & I . stock o w n e d __________
S tocks of s u n d ry c o m p a n ie s ___________
P h ila . & R e a d . C oal & Ir o n C o-..........
S u n d ry ra ilro a d s , & c___________ ______
P . & R . R y . a cc t. new R e a d ’g shopsC a s h ..............................................................
A ccrued in co m e ________________________
M is c e lla n e o u s ............................................

1907.
5
30,560.401
2,996,647
7,603,918
17,105,445
20,000,000
19,470,301
20,000,000
8,000,000
51,582,213
79,195 703
2,110,318
_______
3,007,731
763,963
933,953

1906.
5
23,967,877
2,786,975
13,423,066
17,435,922
20,000,000
18,883,794
20,000,000
8,000,000
52,355,644
79,165,226
2,960,889
1,200,000
1,757,077
926,928
806,634

1905.
$
22,594,610
2,586,609
9,303,222
17,417,860
20,000,000
20,059,794
20,000 000
8,000,000
52.355,793
79,135,761
1,891,210
1,200,000
2,097,001
342,958
921,863

T o ta l- - .................................................. -263,330,593 263,670,033 257.906,682
S to c k (see “ R v . & I n d . ” se c tio n )____ 140,000,000 140,000,000 140,000,000
B onds (see " R y . & I n d . ” s e c tio n )____ 104,828,205 105,220,372 105,115,672
C o n tin g e n t a c c o u n t___________________
1,437,071
1,414,711
1,410,169
A c crued interest a n d ta x e s ___________
2 ,022,817
1,964,674
2,067,611
P h ila . & R e a d in g R y __________________
__________ 3,044,417
_____________
G e n ’l m ortga ge bonds can c e le d _______
3,411.000
2,957,000
2,464.000
C urren t husiness_______________________
112,317
273,644
2 i9 ,5 4 8
M is c e lla n e o u s _______________ __________
631
817
322,525
P ro fit a n d loss, s u r p lu s ________________ 11,518,551
8,794,398
6,307,157
T o ta l li a b i l i t i e s .......... ...........................263,330,593

263,670,033 257,906,682

P H I L A . & R E A D . R Y . B A L A N C E S H E E T J U N E 30.
1907.
1906.
1905.
Assets—
5
$
$
80,255,894
80,255,894
R a ilr o a d ....................................... ............. 81,000,555
P h ila d e lp h ia T e r m in a l________________
8,500,000
8,500,000
8,500,000
P h ila d e lp h ia S u b w a y _________________
2,525,500
2,443,500
2,593,500
R e a l estate- ___________ _________________
311,009
192,620
200,464
Leased e q u ip m e n t_____________________
___________
76,087
76,087
N ew shops, R e a d in g ___________________
1,871,776
1,796,336
1,796,336
R e a d in g Co. p u r . m o n ey m o r t. bo nds ___________
1,200 .000
1,200,000
Stocks su n d ry c o m p a n ie s _____________
2,321,853
1,275,053
75,000
B onds su n d ry c o m p a n ie s ______________
453,000
20,000
20,000
C a s h ____________________________________
1,798,582
922,544
6.865,029
F reig ht a n d to ll b ills ............ -..................
2,486,958
2,367,437
1,999,630
41.939 3,044,417
______________
R e a d in g C o m p a n y ___________ ________
M a teria ls o n h a n d ______________________ 2,949,998
3,508,436
2,206,711
2,993,769
2,757,140
2,232,915
R a ilr o a d c o m p a n ie s ________ ______ _
941,791
478,146
560,519
In d iv id u a ls a n d firm s_________________
P h ila . & R e a d in g C oal & Ir o n C o ____
1,422,426
1.022,314
1,414,266
__________
1,040 844
1,036,838
1,015,798
In su ra n c e a c c o u n ts_______
B ills re ce ivable____ ___________________
344,946
393,202
229,117
S u b w a y lo a n securities, & c___________
368,316
459,318
476,910
T o ta l a s s e ts ....................................... 111,373,262
L ia b ilitie s —
S t o c k ................... ........................................ 20,000,000
B on ds (see “ R y . & I n d •’ s e c tio n )____ 70,209,452
M ortgages a n d gro un d re n ts __________
206,703
U n p a id vouchers a n d pay- rolls_______ 3,603,713
R a ilr o a d cos., in d iv d s . a n d firm s____ 2,554,780
In te re st a n d rents m a tu r e d ___________
373,385
1,166,325
In te re st, taxes a n d rents a c c ru e d ____
W ilm in g to n & N o r. e q u ip m e n t_______
320,041
R e a d in g C o ., new shop s_______________ __________
In s u r . fu n d , e q u lp t. f u n d , s u b w ay
sin k , fu n d , im p ts . a n d m ls c e ll______ 3,122,436
S u r p l u s ................................... -...............
9,816,427

111,749,283 111,718,178
20,000,000
70,127,452
212,069
3,113,295
2,447,096
393,979
1,106,770
320,041
1,200,000

20,000,000
70,277,452
257,069
2.707,302
1,634,640
388,594
1,515,097
320,040
1.200,000

3,056,580
9,772,002

3,030,451
10,387,533

T o ta l lia b ilitie s ..................................... 111,373,262 111,749.283

111,718,178

P H I L A . & R E A D . C O A L & I R O N C O . B A L A N C E S H E E T J U N E 30.
1907.
1906.
1905.
A ssets—
5
5
$
C oal l a n d s .......... ............... ........................ 56,800,810
57,338,107
67,815.326
T im b e r la n d s ___________________________
833,717
659,965
689,965
N ew Y o rk a n d E a ste rn d e p o ts............
731,540
707,002
707,002
W estern yards a n d d e p o ts ____________
812,666
693.203
489,421
M in e rs’ a n d o ther houses______________
553,138
553,138
548,037
P o tts v ille shops, re al estate. & c______
374,791
369,667
369,667
Storage y ards a n d w asherles_________
851,892
842,963
749,336
O th e r re al e s ta te _______________________
355,898
336,158
163 713
Im p ro v e m e n ts a t c o llie r ie s - ..............
7,078,690
7,078.690
7,078,690
E q u ip m e n t a t co llie rie s_______________
2,302,468
2,302,468
2,302,468
D e a d w o rk a t collierie s________________
3,711,477
3,711,477
3,711,477
S tocks a n d bonds of cos. c o n t r o lle d ..
9,596,359
9,633,021
9,672,137
469,661
417,613
657 833
Cash on h a n d ........................................... C oal a c c o u n ts............................................
3,845,347
3.310.528
3,393,343
35,029
29,650
37,391
R e n t a c c o u n ts_________________________
C om panies a n d in d iv id u a ls ___________
454,410
482,046
474,287
C oal on h a n d ___________________________
1,870,170
2,148,319
2,205,357
S upplie s a n d m a te ria ls on h a n d _______
1,202,167
‘ 1,029,388
787,934
D e p le tio n o f coal la n d s f u n d __________
1,487,520
1,443,478
944 976
Stock s, b o nd s a n d m o rts . o w n e d ______
73,608
154,914
839,965
T o ta l assets -......................... ...........
L ia b ilitie s
C a p ita l s to c k ___________________________
B onds (see •’R y . & I n d . ” s e c tio n )____
R e a d in g C o m p a n y ............ - ....................
R e a d in g Co , acc o u n t of in te re s t---Pay-rolls a n d v ouche rs________________
P . & R . R y . c urren t a c c o u n t__________
In te re s t, taxes a n d m isc e lla n e o u s____
P ro fit a n d lo ss_________________________

93,441,359

93,241,794

8,000,000
1,260,000
79,195,703
400,000
1,143,609
1,415,105
838,503
1,188,439

8,000,000
8,000,000
1,290,000
1,320,000
79,165,226 79,135,761
583,305
----------1,032,251
1,154,953
1,105,964
1,477,778
805,127
1,129,168
1,259,921
1,390,666

T o ta l li a b i li t i e s ................................. 93,441,359
— V . 85, p . 7 1 6 ,7 2 6 .
C h ic a g o

In d ia n a p o lis

(R e p o r t fo r F is c a l

&

93,241,794

L o u is v ille

Y e a r e n d in g J u n e

93.608,326

93.608,326

R a ilw a y .
30

1 9 0 7 .)

P r e s id e n t W . H . M c D o e l s a y s in s u b s ta n c e :
General R esults.— The Increase fo r th e year In gross earn in gs a m o u n te d
to 567,866; in o p e ra tin g expenses to 5181,671; In tax es, 543,842 (the v a lu a 
t io n of y o u r m a in lin e h a v in g been Increased b y th e S ta te 39 % In tw o y e a rs ).
T he decrease In n et earnings a m o u n te d to 5157,647.
The rate per to n D e r m lle w a s 0 .8 1 0 c ts .,a g a in s t0 .7 9 6 1 a s ty e a r a n d 0 .7 9 0 In
1905. The to n n a g e pe r tr a in was 306.49, a g a in st 311.52 th e p r e rlo u s
year.
T ons o f freight carried one m ile was 5 18,537,103, a g ain st 523,222,865 th e prev ious year. T he ra te per passenger per m ile was 2,027 c ts ., a g a in s t
2,074 in 1906. The earnings per passenger tr a in m ile , in c lu d in g ba ggage,
m a il a n d express, was 1.17, a g ain st 1.23 In th e prev ious year.
A ll law s passed b y th e la st session of th e Le gislature of I n d ia n a w ith
reference to ra ilroa ds a n d th e ir o p e ra tio n , n o ta b ly th e R a ilr o a d C o m m issio n
A c t, th e S hippers' B ills , th e R a ilr o a d Passenger R a te s , T w o Cents pe r M ile ,
R a ilr o a d Baggage A c t, E m p lo y e e s’ A c t, & c., hav e th e effect of decreasing
o ur earnings a n d Increasing o u r expenses, to w h a t ex te n t we are n o t yet
able to de te rm in e.
P hy sica l C o n d itio n .— There was purch ase d d u rin g th e y ear 5,279 tons o f
75-lb. per y a rd steel ra il a t a cost o f 5162,437; 63.20 m iles o f 75-lb. m il wore
placed In m a in tra c k , re pla cin g 67-lb. a n d 75-lb. ra il.

THE CHRONICLE.

788

(*»■
M a i n L in e a n d B ranches, Steel R a il.
M ile s —
56-lb.
60-lb.
67-lb.
75-lb.
Total.
J u n e 30 1907..........................
23.04
67.16
427.81
518.01
J u n e 30 1906_______________
.39
33.23
76.67
407.72
518.01
J a n e 30 1905............ ............. 9.40
33.43
127.68
347.56
518.07
O i cross-ties, 391,868 first class a n d 18,083 second class were purch ase d
d u r in g th e year; 282,594 ties were used in renew als o n m a in line a n d
branches a n d 11,448 in c o n s tr u c tio n o f new s p u r trac k s, sidin g s, &c.
There were sold to th e D ic k a s o n C o n s tru c tio n C o ., fo r c o n s tru c tio n of
th e In d ia n a p o lis & L o u is v ille R y . , 81,082 ties a n d 4,479 tons of 67-lb. relay
ra il.
U n d e r a c o n tra c t entered in to betw een th is c o m p a n y a n d th e In d ia n a
Tie & C reosoting C o ., a creosoting p la n t has been erected b y th e la tte r c o m 
p a n y ju s t so u th of th e B lo o m in g to n y a rd s , a n d w ill be in o p e ra tio n a b o u t
S e p t. 1. T he c o n tra c t requires th e C reosoting C o m p a n y to tre a t fro m
250,000 to 350,000 ties pe r year fo r th is c o m p a n y .
T here was expe nd ed $61,062 for g ra v e l, c in d e r a n d stone b a lla s t, a ll of
w h ic h was charged to o p e ra tin g expenses. Seven iron p ip e c ulv erts a n d
seventeen stone b o x culverts were c o n s tru c te d , there by re d uc in g m ileage of
bridges 0.14 m ile . A 75-ft. steel gird er w as constructed over K ilm o re
C reek, tw o 29-ft. girders near F a ir O ak s a n d a 24-ft. g ird er n e a r B ra x 
t o n , o n th e F re n c h L ic k b r a n c h . Three steel girder bridges are be ing
erected o n th e I n d ia n a S ton e R R .
A ll ex pe nd itures fo r bridges o n the
m a in lin e d u r in g the year were charged to o p e ra tin g expenses. There was
e x pe nd ed $23,972 fo r new bridges o n th e I n d ia n a S ton e R R . , of w hich
$8,790 was charged to o p e ra tin g expenses a n d $15,182 to ‘‘c o n s tru c tio n a n d
im p ro v e m e n t” of the I n d ia n a S ton e R R .
B lI n d ia n a p o lis & Lou isv ille R y .— T his ro a d , e x te n d in g fro m W a lla c e J u n c 
tio n , on th e m a in lin e , to S hirle y H i ll, in S u lliv a n C o u n ty , w ill be fu lly
co m p le te d a n d in ope ra tio n a b o u t S ept. 15. A c o n tra c t has been let for
th e c o n s tru c tio n o f a b r a n c h of th is ro a d fr o m a p o in t a t V ic k s b u rg to Cloverle a f M in e a t Cass, I n d . , a distan c e o f 4.7 m iles, a n d w ill be com pleted a b o u t
N o v . 1.
E q u ip m e n t.— F iv e n ew coaches, tw o new c o m b in a tio n , tw o new p o sta l
cars a n d one new officers’ car were p u rch ase d , a t a cost of $91,006, of
w h ic h $81,006 was charged to new e q u ip m e n t a n d th e re m a in d e r to oper
a tin g expenses. O f th e 300 fla t cars a u th o riz e d M a rc h 14 1907, 172 have
been received, costin g $121,038, of w h ic h $46,817 was charged to new
e q u ip m e n t a n d th e re m a in d e r to o p e ra tin g expenses, th ro u g h th e replace
m e n t a ccoun t; 364 bo x , 3 fu r n itu r e , 8 stock , 32 coal, 50 fla t, 3 b a lla s t, 5
d u m p cars a n d 2 caboose cars were destroyed or retired fro m service. Two
new passenger locom otiv e s were received d u rin g th e y ear a n d th e cost of
sam e w ill be ta k e n in to a cc o un t In th e n e x t fiscal year.
O P E R A T IO N S , E A R N IN G S A N D E X P E N S E S .
1906-07.
1905-06.
1904-05.
1903-04
M iles operated J u n e 3 0 .
600
592
592
592
O perations —
Passengers c arrie d ______
1,749,392
1,548,282
1,438,598
1,400,026
Passengers carried 1 m ile 70,686,044
67,620,774
61,336,433
59,099,156
R a te pe r pass, per m ile_
2.027 cts.
2.074 cts.
2.064 cts.
2.097 cts.
R e v . freight (tons) c ar’d
3,378,685
3,428,965
3,229,127
2,965,945
F re ig h t (tons) car. 1 m _5 18 ,53 7,1 03 523,222,865 507,057,960 453,014,189
0.810 cts.
0.796 cts.
R a te pe r to n pe r m i l e . .
0.824 cts.
0.790 cts
306
A v e r, train- load (tons) .
311
312
288
E a r n , per pass, tr a in m .
b a g g a g e )----------E a r n , per fre ig h t tr a in m
E a rn in g s pe r m ile of road
E a rn in g s —
P a s s e n g e r _______________
F r e i g h t _____________
M a il express a n d m is c . .

$1.17
$2.48
$9,985
$
1,432,978
4,199,673
356,216

$1.23
$2.48
$10,011
S
1,402,347
4,166,413
352,241

$1.20
$2.47
$9,492
S
1,265,748
4,006,831
342,322

$1.18
$2.37
$8,961
$
1,239,101
3,735,029
326,493

T o ta l ea rn in g s------Expenses—
M a in t. of w a y , & c--M a in t. of e q u ip m e n t —
T r a n s p o r t a t io n --G e neral
—
.. .
T axes _________ . ---

5,988,867

5,921,001

5,614,903

5,300,623

837,805
839,466
2,081,946
140,377
263,857

785,278
812,258
1,987,334
133,053
220,015

740,780
707,968
1,843,181
135,046
208,218

T o t a l ____ - . ----P e r c en t ex p . to e a rn s . .
N e t e a r n in g s .. -----A d d d iv id e n d s , & c______

4,163,452
(69.52)
1,825,415
233,189

3,937,939
(66.51)
1,983,063
249,475

3,635,193
(64.74)
1 ,979,710
160,432

(64.45)
1,884,454
257,051

2,232,538

2,140,142

2,141.505

772,100
262,801

772,100
253,094

772,100
250,023

D isbursem ents—
In te re s t on b o n d s ----N e t re n ta ls ----------

772,100
291,478

1,063,578
o t a l _________________
995,026
S u rp lu s for divide nd s- .
200,000
D iv id e n d o n pref. (4 % ) .
D iv id e n d on c o m m o n . (3) 315,000

3,416,169

1,034,901
1,025,194
1,022,123
1,197,637
1,114,948
1,119,382
200,000
200,000
200,000
(3) 3 15 ,00 0(2% )28 8,75 0 (2 )^)2 6 2 ,5 0 0

C O N D E N S E D B A L A N C E S H E E T J U N E 30.
■
1907.
1906.
|
1907.
1906.
$
i Liabilities—
$
$
Road and equip’t.29,429,716 29 ,371,716 j Stock, common___10,500,000- 10.500.000
Stocks and bonds, 2,784,300
,702,166|Stock, preferred.. 5,000,000 5,000,000
Im p ’ts, 1906 & ’07
156,025
............ |Bonds (see " R y . &
A dv . to I.& L . R y .
890,788
------ | In d .” Sec.)____ 15,000,000 14.942.000
Mater. & supplies.
465,711
530,0081Coupons m atured.
322,650
322,780
634,032
Cash on ha n d _____
980,1971Bond in t. accrued.
57,500
57,500
Coupon acc oun t..
322,650
166,064
322,780]Pay-roll chks. iss’d
182,521
Agents & cond’rs.
300,346
297,326!Roads, ind. & co’s
112,930
209,324
Bills receivable___
80,0001Acc’ts payable___
410,902
456,341
370,446
Roads, in d. & co’s
634,570 jRes’d foraccr’de xp .,
R ef. bds. on han d. 1,558,000
,500,000! doubt .assets,&c.
355,239
381,850
Due from ad d ’l refIReplace’t acc'ts..
141,569
104,315
M . bds. for imps.
2,494
305,7031 Unpaid dividends.
3,240
Car rent susp. acc’t
63,1451Profit and loss____ 5,128,703 4,647,437
3,240
2,494|
D vidend acc’ts___

Assets—•

%

£ 7 T o t a l.................37,215,254 36,790,105

V . 85, p. 722.

F o r purch ase o f 5 fre ig h t lo c o m o tiv e s, 2 s w itc h in g loc o m o tiv e s, 3
passenger cars, 25 coal cars a n d 1 pile-driver c a r , _______________ $.145,962
C ost o f coke racks a p p lie d to 251 cars, 8 new caboose cars b u ilt,* a n d
re-construction a n d b e tte rm e n t o f 491 cars_______________________
50,470
E q u ip m e n t.— The t itle was co m p leted to 500 g o n d o la coal cars o f 40-ton
c a p a c ity , w hich h a d p rev io u sly been carried as “ co ntra c t e a u iD m e n t.”
T he change in title invo lves no chang e in our aggregate assets o f lia b ilitie s.
P h y sica l C o n d itio n .— O f new steel rails w e ig h in g 90 lbs. per y a r d , 3,665
to ns were la id d u r in g th e year.
F iv e m iles o f th e O h io D iv is io n a n d 24
m iles of th e W e s t V ir g in ia D iv is io n were ballasted w ith g ravel.
The
renew al of th e bridg e over E lk R iv e r a t C h arle sto n was co m pleted ; a n d fou r
p la te g irder bridges were erected, tw o on new m a s o n ry constructed d u r in g
th e year, re p lacin g one w ood en stru c tu re a n d th ree iro n structu res too lig h t
fo r m o d e m e q u ip m e n t.
Charged to incom e A ccou nt.— In c o m e a cco u n t has been charged wrtti the
fo llo w in g e x p e nd itu res, a g g re g ating $384,868;
A d d itio n a l yard a n d storage tracks a n d sidings ($67,720); reduc
t io n of grades a n d cu rv a tu re ($41,769), a n d m iscellaneous
( $ 2 ,3 7 8 ) ____________________ ___________ _____________________________ $111,867
500 new g o n d o la d u m p cars (steel u n d e rfr a m e ), $569,818, less car
tru s t notes Issued, $ 46 0,0 00 _________________________________________ 109,818
E q u ip m e n t renew al a c c o u n t ___________________________________________
15,036
E q u ip m e n t o b lig a tio n s (p rin cip a l) retired d u rin g th e y e a r__________148,146
E q u ip m e n t N otes.— E q u ip m e n t notes (p rin cip a l) Issued d u rin g y e a r,
$460,000; retired d u r in g y ear, $148,146; n e t increase, $311,854.
(C om pare
V . 84. p . 1114.)
Second M ortgage B o n d s .— A t th e a n n u a l m e e tin g he ld on J u n e 4 1907, a
re so lu tio n was passed a u th o riz in g th e ex ec ution of a second m ortgage to
secure th e issue o f $2,500,000 gold 5 % co u p o n b o n d s , to be d a te d J u ly 1
1907, p a y a b le in tw e n ty years fro m d a te , Interest p a y a b le se m i- ann ually
J a n . 1 a n d J u ly 1, the b o n d s to be su b je c t to re tire m e n t o n a n y interest
da te a t p a r a n d accrued Interest on three m o n th s ’ n otice b y p u b lic a tio n
th e proceeds of th e b o n d s, w hen so ld , to be used in p a y in g o ff'th e ov er du e
c ar tru s t o b lig a tio n s , also unsecured d e b t a n d S e a tin g d e b t, a n d the ba la n c e ,
if a n y , to be expe nd ed u p o n b e tte rm e n ts a n d im p ro v e m e n ts un d e r a u th o r ity
o f th e b o a rd of directors (V . 83, p . 508, 1182, 1366).
N o sale of these bo nd s has y et been m a d e .

Statistics.— Following are comparative tables for four years
E A R N IN G S , E X P E N S E S A N D C H A R G E S .
1906-07.
1905-06. 1904-05.
E a r n in g s
$
$
$
P a s s e n g e r .....................................
312,974
294,984 281,497
F r e ig h t-------------- ----- .1 ,77 3,8 1 2
1,694,274 1,362,008
M a il a n d express_______________
29,235
27,721
25,933
M is c e lla n e o u s ..............................
261,641
135,784
94,736
T o ta l g r o s s ------------ 2,377,662
Expenses—
M a in te n a n c e of w a y & s t r u c ..
426,441
551,151
M a in te n a n ce o f e q u ip m e n t ___
C o n d u c tin g tra n s p o r ta tio n ___
772,504
33,706
G eneral e x p e n s e s ___ __________
T a x e s ..................... ......................
78,165
T o t a l...................................... 1,861,967
N e t ............ ...................................... 515,695
M iscellaneous in c o m e __________
7,108

2,152,763

1,764,174

1,657,666

343,278
532,223
652,085
30,007
59,041

351,564
452,386
624,719
29.099
63,016

317,431
394,503
611,089
28,224
58,002

1,616.634
, 536,129
7,781

T o ta l in c o m e ........................
522,803
D educt—
In te re s t on fu n d e d d e b t _______
98,760
O th e r interest (in c iu d . e q u ip .)
156,967
A d d itio n s a n d im p ro v e m e n ts .
236,723
E q u ip m e n t o b lig atio n s p a i d . . 148,146

1903-04.
$
269.053
1,224,987
25,172
138,454

543,910

1,520,784
243,389
8,958

1,409,249
248,417
7,982

252,347

256,399

98,760
98,760
138,975
140,414
5,426
____________
__________
_______

98,760
148,031
1,250
_______

T o ta l....................................... 640,596
243,161
239,174
248,041
B a lan c e , surplus o f d e fic it____ D117.793 S .300,749
S .13,173
S .8,358
G E N E R A L B A L A N C E S H E E T J U N E 30.
1907.
1906.
|
1907.
1906.
Assets—
3
$
J Liabilities—$
$
R oad, <fcc.............. 9,573,207 9,573,207ICapltal stock.........10,000,000 10,000,000
E q u ip m e n t ........... 2,832,443 2,520,5S8|.Mortgagedebt____ 2,469,000
2.469,000
Bds. & stk. owned 3,000,000 3,000.0001Equip, obligations 1,841,650
1.529,796
Material <fc supplies
212,336
92,529|Bett. A e q u ip .lo a n 1,095,000
1,095,000
Cash, cash for eonU npaid wages____
98,609
70,232
121,335
49,9991Drafts in tra n s it..
3,113
3,383
pons, &c______
Agents and con[Coupon in terest..
8,378
1,740
ductors..............
15,323
9,118|Roads, Individuals
U .S .P .O .D e p t..
3,898
4,066| and companies.
326,741
126,S90
Roads, individuals
|Accrued interest. _
42,623
62,378
and companies.
53,887
160,875 i Accrued taxes____
25,305
22,230
Unexpired insur’ce
2,697
2,231 j Reserve funds____
24,605
34,071
Profit and loss____
119,898
2,1051
T o t a l............. . _ 15,935,024 15,414,720!
— V. 85, p. 722, 405.

T o t a l................. 15.935,024 16 414,720

D u lu th South Shore & A tlantic Railw ay.
(Report for Fiscal Year ending June 30 1907.)
Results of operations for four years were as below:
O P E R A T I O N S , E A R N I N G S . E X P E N S E S , &c.
Operations—
1906-07.
1905-06.
1904-05.
1603-04
R e v e n u e pass, carried . .
691,585
618,337
554,093
603,308
R ev e nu e pass, car’d 1 m . 40,284,349 34,413,938 31,019,854 33,388,599
R a te per pass, per m ile .
2.662 cts.
2.694 cts.
2.673 cts.
2.654 cts.
R e v . freight tons carried 3,285,475
3,281,506
2,853.536
1,960,749
T ons carried 1 m i l e ____ 237,879,967 227,172,246 178,924,895 142,010,610
A v . ra te per to n per m ile 0.851 cts.
0.85 cts.
0.939 cts.
1.010 cts.
E a rn in g s —
$
$
$
$
M erchandise fr e ig h t____
1,759,652
1,641,392
1,393,523
1,281,902
Ir o n ore fr e ig h t-------283,294
302,733
306,009
171,789
P a s s e n g e r ..........................
1,098,659
951,132
853,238
913,473
M a il, ex p. a n d m isc e l___
170,273
162,518
154 ,1»5
157,448

T o t a l................. 37,215,254 36 790,105

K anaw ha & M ichigan R ailw ay.
(Report for Fiscal Year ending June 30 1907.)
President N. Monsarrat says in substance:
General Results.— A s co m p a re d w ith th e prev ious year: Gross earnings
Increased $224,899; o p e ra tin g expenses increased $245,333; net earnings
decreased $20,433. T he increase in gross earnings was m a d e u p o f the
fo llo w in g Ite m s, v iz .: C oal tra ffic , $12,439; o th e r freight tra ffic , $67,099;
passenger tra ffic , In c lu d in g m a ll a n d express, $19,504; m iscellaneous ea rn 
in g s , $125,857.
The increase In o p e ra tin g expenses em braces; M a in te n a n ce
of w a y a n d structu res, $83,163; m a in te n a n c e of e q u ip m e n t, $18,928; con
d u c tin g tra n s p o rta tio n , $120,419; general expenses, $3,699; tax es, $19,123.
The n u m b e r of tons o f fre ig h t carried one m ile increased 16,477,381; the
t r a in le a d averaged 473 to n s , a decrease as c om pa red w ith the previous
y e a r of 23 to ns , caused chiefly b y the large increa e in the to n n a g e of coke
a n d m iscellaneous freight a n d quic k er tim e schedules for m erchandise
t r a . n ^ In v o lv in g re d u c tio n In th e ir lea din g ; the average rate pe r to n m l!e
w as 4.85 m iles, sam e as the prev ious year; a n d the earnings per freight
t r a in m ile were $2 30, as com pared w ith $2 40 in the prev ious year.
B it u m 
in o us coal fo r m td the largest ite m of relsrht tia ffic , a m o u n tin g to 7 0 .3 0 %
o f th e to ta l to nn a g e as c ,rnpa.\ d vvlt*i 72.86 % in th e prev ious year.
The
to n n a g e o f coke carri d a m o u n te d to 6.02 % of the ti-tai, as com p a re d w ith
5 .3 0 % th e prev ious year.
C lassified Tonnage (Total 3,200,151 tons in 1906-07; 3,128,732 in
1905-06.)
----- ---- Products of----- -— — B itu m in o u s Coke,
A g ric . A nlrnals.Forests. M fctures
C oal.
& c.
M is c .
1906-07 .......... 155,120 12,152 269,748 146,787 2,249,813 230,000 136,531
1905-06 ______140,47S 9,136 257,536 124,520 2,279,741 189,651 127,672
E x tra o rd in a ry E x p e n d itu re s.— -The fo llo w ln g ^e x tra o rd in a ry ex pe nd itures,
a g g re g atin g $196,432. less $15,032 charged to Ineom e a c c o u n t, were charged
a g ain st th e "re n e w a l reserve f u n d ,” de riv ed fr o m th e a m o u n ts charged to
o p e ra tin g expenses for d e p re cia tio n u p o n e q u ip m e n t , a nd v a lu e o f e q u ip m e n t
d e stroyed or sold , riz;.:
^




[V o l . l x x x v .

Gross e a rn in g s____
Expenses—
M a in t. o f w a y & s t r u c t.
M a in t. o f e q u ip m e n t-C o n d u c tin g tra n s p o rt’n .
G eneral e x p e n s e s------

3,311.878

3,057,775

2,706,935

2,524,612

517,526
301,752
1,420,227
81,353

477,303
265,377
1,234,838
79,942

436,316
227,768
1,107.043
81,578

406 722
2 19 ’3 U
1 041 804
81 ]619

O p e ra tin g expenses . .
P . c. of exp. to earningsN e t e a rn in g s---------O th e r i n c o m e ---------

2,320,858
(70.08)
991,020
13,654

2,057.460
(67.29)
1,000,315
14,536

1.852,705
(68 44)
854,230
15,774

N e t In c o m e --------D e d u c t—
I n t e r e s t -------------T a x e s .................................

1,004,674

1,014,851

870,004

786,639

889,927
170,283

878,716
292,471

859,823
216,734

859,70*
210,392

1 749 456
^69 3)
775 156
11,483

T o t a l .......... ....................
1,060,210
1.171,187
1.076,557
1,070,092
B a la n c e ............................ -def. 55,536 def.156,336 de f.206,553 d e l.283,453
B A L A N C E S H E E T J U N E 30.
1907.
1906.
|
'
1907.
1006.
Assets—
$
$
| Liabilities—
$
$
Road & equlpm ’t.46,608,130 46,161,076|Common stock ...12,000,000 12,000,00*
M ack.Transp’nCo.
237,372
237,372|Preferred sto ck ...10,000,000 10,000,00*
Lake Super. Term.
I Bonds & car trusts 23,558,312 23,406,493
& Transfer R ___
29,488
28,100 jCanadian Pac. R y .
Lake Mich. & Lake
| guar. in t. adv’ee 4,193,675 3,589,395
Superior R y --7,663
7,6631 Canadian Pac. R y .
Mineral Range R y .
532,295
532,295 j general accounts
187,988
323.012
Ste.MarieUn.D.Co.
57,198
56,7981South Sh. Land Co. 200,008
197,00*
Westers E x p. C o.
25,000
25,0001M. H .& O lands .
5,824
7,271
Current accounts
|BUIs payable.........
10,500
10,50*
and miscellane’s
626,654
509,949 ICurrent accounts.
564,722
030,297
M aterial-------285,921
356,805 j Accrued Interest &
Profit and lose____ 2,672,292 2,616,756J taxes...................
360,984
367.83C
Total assets____51,082,013 50,531,814|
— T. 85, p. 599, 405,

Tot. lia bilities..51,082,013 59,631,814

Be p t . 28 1907.]

THE CHRONICLE.

Toledo & Ohio Central Railw ay Co.

{Report for Fiscal Year, ending June 30 1907.)
Pro ident N. Monsarrat says in substance:
General R esults.— The Increase of $794,499 in gross earnings w as m a d e u p
of th e fo llo w in g ite m s, v iz .: C oa! tra ffic , 5612,897; o th e r freight tra ffic ,
.$153,913; passenger tra ffic , in c lu d in g m a il a n d express, $23,756; m iscel
laneous earn in gs, $3,933.
B itu m in o u s coal form ed th e largest ite m of
fre ig h t tra ffic , a m o u n tin g to 72.79 % of th e t o ta l to n n a g e .
B q u ip m e n t.— O n J u ly 1 1906 th e u n e x p e n d e d ba la nc e in th e “ e q u ip m e n t
reserve f u n d ,” in c lu d e d in o p e ra tin g expenses o f prev ious years, was $502,578; d e p re c ia tio n on e q u ip m e n t for th e year a d d e d $187,195, a n d v a lue
of e q u ip m e n t destroyed a n d sold a m o u n te d to $178,894; m a k in g a v a ila b le
fottren ew al a cc o u n t $868,667. T his fu n d , together w ith $231,135 charged
to Incom e a c c o u n t, in a ll $ 1,099,802, was absorbed in th e fo llo w in g e x p e n d i
tures, v iz .:
P urchase o f 15 lo c o m o tiv e s, 4 lo c o m o tiv e ten ders, 4 passenger
ooaches, 3 cafe cars, 617 b o x cars, steel u n d e rfra m e , a n d 83
flat cars, steel u n d e rfr a m e _________________________________________ $1,068,884
M is c e lla n e o u s _________________________________________________________
30,918
Benewals, & c.— 3,114 to n s of new stee! rails, w eighin g 80 lbs. per y a r d ,
were la id ; 108,672 new cross-ties were placed in th e m a in tra c k , 28,604 in
sidin gs, a n d 27 m iles of tra c k were b a lla s te d .
E x tra o rd in a ry Charges.— T he Incom e a cc o u n t fo r th e year w as charged
w ith th e fo llo w in g ex pe nd itures, a ggre gating $826,765, v iz .:
Second tra c k in C o lu m b u s , a d d itio n a l sidin gs, shop b u ild in g s ,
water-softening p la n t , & c----------------------------------- $135,136
F o r new e q u ip m e n t ------------------------------------------- 231,135
B q u ip m e n t o b lig atio n s (p rin cip a l) re tire d ____________________________ 260,494
F o r re d u c tio n of special e q u ip m e n t a nd b e tte rm e n t lo a n ____________ 200,000
S t. M a ry ’s b r a n c h was charged w ith a d d itio n s to p ro p e rty aggre gating
$9,269.
E q u ip m e n t O bligatio ns.— E q u ip m e n t tru s t o b lig atio n s (p rin cip a l) were
increased b y the issue of notes covering 650 bo x cars, of w hic h 33 were
n o t received p rio r to J u n e 30 1907 a n d a m o u n te d to $560,000; less p rin c ip a l
o f notes retired d u r in g the y e a r, $260,494; n e t increase, $299,506.
C L A S S I F I E D T O N N A G E . A G G R E G A T IN G 6,867,541 T O N S I N 1906-07,
A G A I N S T 5,689,439 I N 1905-06.
--------- Products 0/ ---M anuB itu m .
Ores, M erch. &
AniF o r
A g r i
mats.
ests.
factures.
C oal.
C oke,& c. M iscell.
culture.
37,564 211,704 440,367 4,998,736 684,801
257,963
19*6 0 7 . 236,406
31,781
181,310 417,786 4,066,179 556,950
217,210
1903-06- 218,223

Stcdistics.— Following are comparative tables for four
years:
O P E R A T IO N S , E A R N IN G S , E X P E N S E S A N D C H A R G E S .
1905-06.
1906-07.
1904-05.
1903-04.
441
441
441
441
M iles operated J u n e 3 0 . .
Operations—
1,099,269
878,547
919,231
882,380
N o . of pass, c a rrie d ____
31,328,357
30,608,888
N o . of pass, c ar’d 1 m ile . 35,509,635
34,022,729
1.62 cts.
1.74 cts.
1.76 cts.
1.63 cts.
R a te per pass, per m ile .
6,867,541
5,178,946
4,816,403
5,689,439
T ons m o v e d _____________
T ons m oved one m ile ___ 980,067,793 774,110,422 673,422,207 626,501,606
0.436 cts.
0.464 cts.
0.423 cts.
0.465 cts.
R a te pe r to n pe r m ile —
541
498
460
452
A v e r, train- load (to n s ).
$0.72
$0.60
E a rn s , pe r pass. tr. m ile
$0.70
$0 60
$ 2.11
$2.29
$2.18
$2.13
E a rn s, per fr ’t tr. m i l e . .
E a rn in g s —
$
$
$
$
574,666
553,760
552,695
546,660
P a s s e n g e r _____ ______ _
4,144,535
3,377,725
3,123,534
2,918,598
F re ig h t ------------147,460
140,677
96,457
127,391
M a il, express & m is c e ll.
.
Sxpenses—
W a y a n d stru c tu re s--M a ln t. of e q u ip m e n t —
G eneral
Taxes .
O pe r. ex p. & t a x e s ..
P . c. of op. ex p . to earns.
O th e r IncomeT o ta l -------------D educt—
In te re s t on b o n d s ----In te re s t o n car tru s ts —
M is c e lla n e o u s ___________
A d d itio n s & im p ro v e ’t s .
E q u lp . tr. o b llg . p a id - .
S pecial e q u ip . & b e tte r
m e n t lo a n p a i d -----

4,866,661

4,072,162

3,766,651

3,598,684

637,607
844,615
1,606,980
62,919
167,509

691,015
745,946
1,424,892
61,415
144,621

621,919
704,862
1,406,366
60,444
134,217

528,790
644,604
1,435,193
62,760
130,868

3,319,630
( 6 8 . 21 )
1,547,031
82,341

3,067,889
(75.34)
1,004,273
17,246

2,927,808
(77.73)
838,843
14,910

2,802,221
(77.87)
796,463
109,403

1,629,372

1,021,519

853,753

905,866

404,000
32,355
7,722
366,271
260,494

404,000
31,634
31,958
312,810

404,000
29,976
51,374

404,083
51,680
18,803

2 0 0 ,0 0 0

1,270,842
780,402
474,566
485,350
358,530
241,117
368,403
431,300
B A L A N C E S H E E T J U N E 30.
1907.
1906.
|
1907.
$
$
| Liabilities—
$
Asattis—
IStock, common___ 6,500,000 6.500.000
Cost of road and
equipm ent_____16, 820,072 10,768,718|Stock, preferred . . 3,708,000 3.708.000
j Bonds (see " R y . &
Bonds and stocks
owned.................3 ,180,547 3,217,666! In d ." section).. 8,500,000 8.500.000
780,183
IC artrusts________ 1,079,689
Materials and sup
334,979
251,874|Int., coup., divs.,
plies ........... ........
216,082
130,811! & c ._ ..................
154,897
156,800
C a sh _____ _______
|E qu pment and
Cash with finan
122,202
123,522! betterment loan
150,000
cial agents_____
360,000
372,426
147,0951Unpaid labor_____
183,148
Bills receivable__
137,393
I Roads, ind & cos.
693,323
R oad, Individuals
612,533
740,444
441,3161Bills receivable dlsand companles.
320,000
| c oun te d.............
Agents and con
110,502
ductors...............
40,362
40,3421Bills payable_____
22,824
94,227
lAccrued taxes____
77,166
U . 8 . P . O . D ept.,
66,222
accrued interest
|Reserve accounts.
96,538
71,606
|Drafts in tra n s it..
11,770
receivable, unex
8,817
15,639]Profit and loss____
344,631
pired insur., &c.
40,701

’F o t a l .................
B atenee, s u r p lu s .

T o t a l.................21,841,986 21,136,984|
•— T . 85, p . 723.

Total...................21,841,

21,136,984

Northwestern Elevated Railroad, Chicago.

(.Report for Fiscal Year ending June 30 1907.)

President M. B. Starring, under date of Chicago, Sept. 16,
says in substance:
ita r n in g s .— T he gross earnings for th e year were (In c lu d in g L o o p netearnlngs) Increased $151,589, or 7.7 % . The t o ta l expenses increased $84,509, or 5 % , d u e p r in c ip a lly to Increased taxes a n d Increased L o o p c om pen sa 
t io n to c ity ; also, im p ro v e d service re q u irin g a d d itio n a l car m iles, w ith a
c orre spon din g increase in pay-roll a n d pow er accoun ts, to a n increased rate
of wages a n d to a d d itio n a l Insurance.
The n e t Incom e increased $67,080,
or 23.9 % .
The surplus a t th e close of th e year was $1,649,013.
M a in te n a n c e . — The p h y sic al c o n d itio n o f th e pro p e rty has been m a in 
t a in e d a t a correct s ta n d a r d , a n d a d e q u a te reserves hav e been established
to care for th e fu tu re .
Im provem ents.— T hirty - four new c o m b in a tio n m o to r cars were purchased;
th e w ide do o r en tra nc e space a n d th e p n e u m a tic a lly operated do o r a d d
m u c h to the lo a d in g a n d u n lo a d in g faellltles o f these cars. T he W ils o n
A v e . surface te rm in a l s ta tio n has been c om pleted a n d is a n a ttra c tiv e a d d i
tio n .
A 2,000 K . W . ro ta ry conv e rter w as in sta lle d in a n a d d itio n to the C h i
cago A v e . storage b a tte r y b u ild in g , a n d placed in o p e ra tio n F eb . 6 1907;
c urren t be ing purch ase d u n d e r a c o n tra c t w ith the C o m m o n w e a lth E lec tric
O o ., w hic h c o n tra c t w ill p ro v id e th e electrical energy used In conn e ction
w ith the a d d itio n a l ro ta ry converters hereafter m e n tio n e d . A n a d d itio r
to the F u lle rto n A v e . pow e r house Is u n d e r c o n s tru ctio n for sub-station p u r 
poses. a n d tw o 2,000 K . W . ro ta ry converters w ill be In stalle d therein; th e
Vn S eptem b er 1907 a n d th e second p rio r to D ec. 1 1907; in a d d itio n to




789

these th e efficiency o f th e storage b a tte r y has been increased over 40 % b y
a d d itio n s m a d e th e re to , th u s a m p ly p r o v id in g fo r th e d e m a n d s for electrical
energy fo r th e c o m in g w in te r.
Ravenswood E x ten sion .— T he R a v e n sw o o d e x ten sio n, a lth o u g h n o t c o m 
p le te d , was opened for business o n M a y 18 1907, a n d gives p rom ise of de
v e lo p in g a ll th e tra ffic t h a t h a d been expected of it.
I ts c o m p le tio n , tnc lu d in g th e surface ex ten sion, w ill be a cc om plishe d early in th e a u tu m n .
E v an ston E x ten sio n .— A c ce p ta b le ord inan ce s ha v e been passed b y th e C ity
C ouncils of C hicago a n d E v a n s to n , a u th o riz in g th e C hicago M ilw a uk e e &
S t. P a u l R y . Co. a n d th e N o rth w e ste rn E le v a te d R R . C o. to operate th e
E v a n s to n D iv is io n o f th e S t. P a u l C o m p a n y b y m ea n s o f e le ctric ity , w h ic h
w ill re sult in e x te n d in g th is c o m p a n y ’s service to E v a n s to n u n d e r a n o p e ra t
in g agreem ent w ith th e C . M . & S t. P . R y . C o ., th e term s o f w h ic h hav e
been su b s ta n tia lly agreed u p o n .
R E S U L T S F O R Y E A R S E N D I N G J U N E 30.
1906-07.
1905-06.
1904-05.
T o ta l passengers c a rrie d _______________ 31,022,575
29,132,871
26,812,825
D a ily a v era ge-------------------84,993
79,816
73,460
Passenger e a rn in g s____________________ $1,550,816 $1,456,454
$1,340,446
O th e r earnings (incl. L o o p n e t e a rn s ).
549,500
492,273
445,968
T o ta l e a rn in g s____________ ______ ___ . $2,100,316
M a in te n a n ce o f w a y a n d struc tu re s - .
$50,681
M a in te n a n ce o f e q u ip m e n t___________
141,738
C o n d u c tin g tr a n s p o r ta tio n ___________
458,774
G eneral expenses_____________________
93,111

$1,948,727
$65,092
147,387
415,556
77,538

$1,786,414
$63,720
85,851
400,538
66,519

T o ta l o p e ra tin g expenses___________
$744,304
N e t earn in g s___________________________. $1,356,012
$217,311
a T ax es________ _________________________
B o n d In te rest___________________________
791,123
O th e r In te rest_________________________

$705,573
$1,243,154
$171,624
783,467
7,566

$616,628
$1,169,786
$163,521
779,379
9,727

$1,008,434
$962,656
$952,627
T o ta l charges................................... ..
S u rp lu s for y e a r_______________________
$347,578
$280,498
$217,159
The figures for 1906-07 in c lu d e $35,054 set aside as a reserve for m a in t e 
nance; in 1905-06, $71,700, set aside in m o n th ly in s ta llm e n ts as a reserve
fo r fu tu r e be tterm en ts a n d m a in te n an c e , $41,700 o n m a in lin e a n d $30,000
o n L o o p D iv is io n .
a In clu d e s c o m p en sa tio n to c ity on a cc o u n t o f L o o p .
G E N E R A L B A L A N C E S H E E T (IN C L U D IN G LO O P D IV IS IO N ) J U N E 30.
1907.
1906.
I
1907.
1906.
Aqo/i/o__
4
Q
| T
t
i
4k
*6
Road and equip.31,575,603 30,133,940 |Preferred s t o c k ... 5,000,000
5,000,000
Land and bldgs___
442,022
442,0221Common stock___ 5,000,000
5,000,000
Stocks and bonds.
32,515
82,5151Bonds___________ 2/18,926,000 18,482,000
Cash and bills re
|M ortgages_______
122,350
126,850
ceivable _______ 1,028,142
746,5291Res’d for tax es.. .
91,523
241,839
Acc’ts receivable..
142,758
121,4431Accr’d in t. on bd s.
248,612
242,692
Materials and sup
j Res. for m a in t’ce.
250,000
238,762
plies on ha n d ___
3,805
7,1311Acc’ts & notes pay. 2,322,338
1,297,297
Unadjusted acc’ts.
415,767
403,018 [Unadjusted acc’ts30,775
5,723
1,301,434
IP rofitan d loss____ 1,649,013
T o t a l............... -33,640,612 31,936,600| T o t a l................ -33,640,612 31,936,600
y Total bonds, $22,624,000; less owned, $3,698,000: outstanding, $18,926,000.—
V . 85, p. 723.

American Railw ays Co., Philadelphia.

_,.j

{Report for Fiscal Year ending June 30 1907.)
President J. J. Sullivan says in part:
General Results.— The gross earnings of th e s u b sid ia ry c o m pa nies were
$2,855,320, show in g a n increase over 1906 o f $245,043, o r 9 .4 % .
T o ta l
n u m b e r o f passengers carried w as 6 7,624,731, show in g a n increase o f
6 ,517,323, or 1 0 .6 6 % .
A fte r p a y in g a ll fixed charges, interest a n d tax es,
the n e t incom e is $384,559.
There were p a id in d iv id e n d s to stockholders o f T he A m e ric a n R a ilw a y s
C o. $304,392, show in g a n increase o f $53,007 (due to th e increase of th e
c a p ita l stock d u rin g th e prev ious y e a r ), le a v in g a b a la n c e to th e cred it o f
surplus a cc o u n t o f $80,167, w h ic h , a fte r a d ju s tm e n ts , leaves a ba la nc e to
the credit o f surplus on J u n e 30 1907 of $478,274.
There has been charged
off a g a in st surplus a cc o u n t th e su m of $8,981, be ing th e fin al se ttle m e n t of
th e old c laim s of th e E c o n o m y L ig h t & P ow er C o. of J o lie t, 111.
W h ile th e g ro w th of th e d iffere nt c om pa nies ow ned a n d ope rate d has been
e m in e n tly sa tisfa c to ry , th e increased cost of o p e ra tin g a n d m a in t a in in g the
properties has a m o u n te d to a lm o st 1 8 % .
T his increased cost was caused
b y th e increase o f th e h ig h prices o f electrical m a c h in e ry a n d a ll o th e r su p r
plies, a n d th e a d v a n c e o f wages o f em ployees.
C ollateral T rust L o a n .— I n D ec. 1906 we p a id $975,000 w ith in te re st, be in g
th e b a la n c e r e m a in in g u n p a id w hen w e b o u g h t th e S c ra n to n R a ilw a y C o. in
Dec. 1905. W e borrow ed th e m o n e y o n tim e to close th e tra n s a c tio n ,
w h ic h has tu rn e d o u t to th e best Interests of th is c o m p a n y .
I n A p r il 1907
we arran ged to issue a "co llateral tru s t lo a n of $ 2,500,000, a t 5 % In te rest,
ru n n in g fo r to n years, re deem able a t a n y interest period a t 102 M % a n d
Interest. W e pledged 39,500 shares of the c o m m o n stock of th e S c ra n to n
R a ilw a y C o. a n d 29,500 shares o f the stock o f th e A lto o n a & L o g a n V a lle y
E le c tric R a ilw a y C o. as colla te ral for t h a t purpose .
These b o nd s are n o w
b e ing sold (com pare V . 84, p . 1365, 1549), a n d w ill p ro v id e fu n d s to p a y
th e flo a tin g d e b t referred to above; also to b u ild three large car b a rn s , m a k e
som e extensions, a n d purchase a d d itio n a l cars a n d e q u ip m e n ts .
A c q u isitio n s.— D u rin g th e year we b o u g h t a n d p a id fo r In S c ra n to n , P a .,
9 acres of la n d costin g $ 31,500, o n w h ic h we w ill erect a fire pro o f car b a rn .
I n J o lie t, 111., we b o u g h t a n d p a id for 'a n d for sto rin g cars.
I n T y ro ne ,
P a . , we b o u g h t a n d p a id fo r a tra c t o f la n d h a v in g a v a lu a b le w a te r s u p p ly
ru n n in g th ro u g h the p ro p e rty .
A t T ip to n , P a ., we b o u g h t 4.45 acres for
r ig h t of w a y , h a v in g in view the s tra ig h te n in g of o u r tracks a t som e fu tu re
tim e .
'
W e h a v e spe nt d u rin g th e year fo r new c o n s tru ctio n a n d e q u ip m e n t a n d
also In th e purchase of real estate needed on a cc o u n t o f the c o n tin u a l g ro w th
a n d d e v e lo p m e n t o f the differe nt properties th e su m o f $918,914, d iv id e d
a m o n g th e differe nt properties as follow s:
A lto o n a & L o g a n V alle y
B rid g e to n E lec tric C o _______ $19,724
E lec tric R y ------------ $200,465 H o m e
E le c tric
L ig h t
&
C hicago & J o lie t sy ste m ____
95,115
S te a m H e a tin g C o _______
13,327
88,396 F r a n k lin R e a ’ E state C o ___
P e o p le ’s R a ilw a y C o ________
41,265
S prin gfield R a ilw a y C o ______
60,146 Dell\w*>iM*w«t C o ___________ 154,123
B rid g e to n & M illv ille T r. Co.
5,576 |S cran to n R a ilw a y C o _______ 240,777
(The re port describes w ith m u c h d e ta il th e v a rio u s Im p ro v e m e n ts and
a d d itio n s .— E d .)
S T A T E M E N T F O R F I S C A L Y E A R E N D I N G J U N E 30.
1906-07
1905-06.
1904-05.
In c o m e fro m su b sid ia ry c o m p a n ie s _________ $502,758
$331,831
$303,211
M iscellaneous In co m e_________________________
24,304
*154,881
*141,043
Gross in c o m e ________________________________ $527,063
Deduct—
G eneral expenses_____________ _________________
$931
P r in tin g a n d re gistration of stocks & b o n d s ..
3,651
Legal expenses, & c ____________________________
2,387
T a x e s _______ _________ __________________________
13,000
In te re st on fu n d e d d e b t _______________________ 122,535
D iv id e n d s p a id (6 % ) ............................................ 304,392

$486,712
$297
4,207
2,203
13,000
121,775
251,385

$444,254
W|{
$44,434
1,042
1,098
12,200
121,983
234,743

T o ta l d e d u c tin g s ____________________________ $446,896
B alance surplus fo r y e a r____________________
80,167
T o ta l surplus to end of prev ious y e a r________ 407,088

$392,867
93,845
357,820

$415,500
28,754
418,066

T o ta l- ..................................................................... $487,255
C harged off— D e p re c ia tio n , C hicago U n io n
T rac tio n C o. s to c k ------------------------A d ju s tm e n t of taxes P eop le’s R a ilw a y C o. of
D a y to n , 1899 to 1905 in c lu s iv e ____________
_______
A d ju s tm e n t o f d isp u te d a c c o u n ts E c o n o m y
L ig h t & P ow er Co. for 1902-03____________
8,981
Transferred to fire insurance f u n d ____________
_______
P rofits fro m sale of securities a n d p r o p e r ty .- _______

$451,665

$446,820

S u rp lu s end o f y e a r___________ ______________

$71,250

_______

30,944

_______

_______
_______
C r.57,618

_______
$89,00#

$8,981
$44,577
$ 8 9 ,0Q*
$478,274 $407,088
$357,
~ - 7 .8X
* C hiefly Interest o n a dvances m a d e to su b - co m p an es a n d d e d u c te d fro m
t h u lr earnings before d iv id e n d s were declared.

7U0

THE CHRONICLE.

B A L A N C E S H E E T J U N E 30.
1907.
1906.
I
1907.
1906.
Assets—
$
$
J Liabilities-S
$
a Stocks and bonds
(Capita! stock____ 5.095,100 5,051,300
owned (cost) __ 6.215,388
6,135,188|Coll. trust convert.
6 Blils receiv., & c. 4,S47,481
3,876-,297| 5% bonds_______________
2,
435,500 2,435,500
Furniture & flxtur’s
5.901
4,023 Coll. trust 5% bds.
Engineering Dept.
j 1917_____
2 500,000
_______
Instruments--1,043
1,159 Trustee Scranton
Fire Ins. fund in| R y . pref. stocks 1
499.000 1,495,000
v estm ent----142,549
126,480(Bills payable_1 265.000
975,000
Interest accrued..
15,251
15.387|Vouchers,etc.,pay.
37,782
79,423
Call loans-----------300,000 j Accident ins. fund 25,495
5,468
148,065
103,6921Fire Insurance fund 146,075
Cash on han d_____
130,365
Coll. trust bonds
iTaxes & in t. accr’d
36,811
24,633
1917 --------- 2,185,000
___* ___|Profit & loss, surp.
478,274
407,088
T o t a l___

---13,560,678

10,562.1361

Total ..........560.678
......................
.13
10,562,136

it See list in "Street R ailw ay ” Section.
b Chiefly advances to subsidiary companies.— V . 85, p. 721.

I
i

Distillers’ Securities Corporation.

{Report for Fiscal Year ending June 80 1907.)
President E . J. Curley, under date of Sept. 20 1907, says:

T h e p la n ts ha v e been m a in t a in e d in a state o f h ig h e fficie n c y , a n d th e
'fidst of a d d itio n s , m a in te n a n c e a n d rtp a irs h;.s been c harged a g a in s t e a rn 
in g s. A c co u nts a n d b ills receivable a n d b ills p a y a b le are a ll c u rre n t a nd
represent th e tra d e receivables a n d p a y a b le s of tn e c om pa nies. A l l accounts
betw een th e com panies ha v e been e lim in a te d , so as to show th e n e t figures.
M e rchand ise, m a te ria ls a n d sup plies aggregat in g $2,618.991 hav e been taken
■at a c tu a l cost. T his ite m consists of the fo llo w in g : F in is h e d goods (w his
kies a n d s p irits), $1,864,377: goods in process, $67,608; g r a in , §101,457:
m a n u fa c tu r in g sup plies (.cooperate, fuel, charco a l, & c .) , $404,257; general
sup plies, consistin g o f re pair m a te ria ls , general m erch an dise , horses w agons,
& e ., & c., $181,293.
T he ite m of securities— $5,6 67 ,3 02 — represents In v estm en ts In various
•d is trib u tin g a n d o ther c om pa nies. T heir v a lu e , t a k in g th e in v e stm e n ts
th e d is tr ib u tin g c o m pa nies on th e basis o f th e ir n et c urren t assets, c o n 
s is t in g of cash, m erch an dise , re ce ivables, & c., a m o u n ts to $ 7,063,332, or
$1,395,970 m ore th a n m a t a t w n lc n these securities are c arried on the
books. T hey f jr m a p a rt of d ie a c tu a l w o rk in g c a p ita l, w hic h now a m o u n ts
to $16,264,705.
T he n e t re su lt for th e pa st y ear is th e best in th e h is to ry o f th e c o m p a n y .
T he gross profits show a n increase o f 12 % a n d th e net profits a n increase of
20 % over^nose of th~ la st fiscal year e n d in g J u n e 30 1906. T he operations
for th e first q u a rte r o f the c u rre n t y e a r, e n d in g S e p t. 30 1907, show be tte r
re sults t h e n those o f m y prev ious c orre spon din g q u a rte r , a n d give no ev i
dence of a n y business recession. O n th e c o n tra ry , our fa ll season opens w ith
greater a n im a tio n in every d ire c tio n , a n d the prices of a ll o u r products
are being iirm ly m a in ta in e d .
Reference was m a d ■in 1 ist y e a r’s report to the Free A lc o h o l L a w , w hich
becam e effective on J a n . 1 1907. T h j U n ite d States In d u s t r ia l A lc o h o l
Co. (com pare V . 84, p . 343) w as o r g a n iz 'd a b o u t t h a t tim e , a n d Its re
su lts hav e been h ig h ly satisfa c tory a n d show a steady increase. T he D is 
t ill in g C o m p a n y is la rg e ly interested in t h a t c o m p a n y , a n d w ill derive c on 
side ra ble protit from it.
In th e figures he rew itn s u b m itte d , how ever, no
p a rt o f th e earnings o f th e U . S. In d u s tr ia l A lc o h o l C o. has been in c lu d e d
o r ta k e n in to a c c o u n t.
E A R N IN G S

E X P E N S E S . C H A R G E S, ETC.

T o ta l receipts from sales o f p r o d u c t)
a n d a ll o th e r sources _____________ )•
Cost of p r o d u c tio n , d is tr ib u tio n , & c .j
Gross p r o f i t . . . _____________________
D educt —
In te re st on notes a n d ioansT a x e s __________________________________
R e n t a ls _________________________ _____
In s u ra n c e ______________________________
R eserve f u n d __________________________
A d d itio n s a n d m a in te n a n c e ___________
A d m in is tr a tio n , & c., expenses_______

1906-07.
N o t rep o rte d .
See te x t.

1905 06.
1904-05.
N o t re- 1
p o rte d .
}-$71,210,447
See t e x t. J 67.483,231

$4,541,696

$4,054,815

$3,727,216

$327,195
79,018
85,377
94,992
_______
245,912
367,815

$290,084
109,905
83,590
112,521
32,181
220,118
332,346

$ 2 0 1 ,9 :8
93,651
55,739
65,443
156,919
277,177
404,329

T o ta l_____________ ___________________ $1,200,309
$1,180,745
$1,255,185
N e t earn in g s___________ -______________ $3,341,387
$2,874,071
$2,472,029
In te re st on b o n d s_____________________
782,620
750,007
903,149
D lv ld e n d s - a ________________________ (5 % ) 1 ,634,309 (4)1,327,036 (4)1,317,009
T o ta l interest a n d d iv id e n d s ___
$2,416,929
B a la n c e , s u r p lu s _______________________
$924,458

$2,077,043
$797,028

$2,220,158
$251,871

a D iv id e n d s In 1906-07 In c lu d e 1 % p a id J u ly 1906; O c t. 1906, 1 34% ;
J a n . 1907, 1 'A % : A p r il 1907, 1 H %•
B A L A N C E S H E E T J U N E 30, S H O W I N G A S S E T S A N D L I A B I L I T I E S
O F D I S T I L L E R S ' S E C U R I T I E S C O R P O R A T IO N A N D O F
I T S C O N S T IT U E N T C O M P A N IE S .
Assets— _______________________________________ 1907.
1906.
1905.
Properties of c o n s titu e n t c o m p a n ie s .. $39,022,672 $38,613,670 $39,444,878
B o n ds h e ld b y A m e rica n S p irits M a n 
u fa c tu rin g C o ., tru stee _____________
11,000
11,000
11,000
C a s h ____________________________________
1,304,027
1,017,742
1,538,717
A c co u nts a n d b ills re ce ivable________
12,185,164 11,041,075
10,332,569
M a teria ls a n d sup plies (at c o s t)_______
2,618,991
2,857-538
3,325.493
x Securities of o ther c o m p a n ie s _______
5,667,362
5,439,203
3,993,134
T o ta l assets....................................... ..1/60,809,217
L ia b ilitie s —
C a p ita l stock Issue d___________________ $30,722,959
S to c k w ith M e rcan tile T rust Co.
a g ain st o u ts ta n d in g sto ck of D is 
tillin g Co. of A m erica a n d its con
s titu e n t c o m p a n ie s _________________
1,755,881
B o n d e d in d eb te dn ess_________________ 15,947,000
U n c la im e d d iv id e n d s _________________
541
A c co u nts a n d b ills p a y a b le ____________ 1/5,510,840
R eserve a c c o u n ts _______, _____________
233,826
S u rp lu s a c c o u n t
..................... .............
6,638,171

$58,980,228 $58,645,792
$30,435,943 $29,926,683

2,042,896
15,771,000
712
4,774,022
241,942
5,713,713

2,552,157
15,999,960
371
3,964,651
224,106
5,977,863

T o ta l lia b ilitie s ____________________ J/$60 .809,217 $58,980,228 $58,645,792
x P r in c ip a lly stocks in c om pa nies o w n ed b y th e p a re n t or c o n s titu e n t
c o m p a n ie s .
V T otals in 1907 differ from those in c o m p a n y ’s re port. F o r purposes o f
co m pa riso n w ith previous y e a rs ,th e “ accoun ts a n d bills p a y a b le ” are show n
abov e un d e r liabilities; In the report for 1907 th e y are d e d u c te d fro m current
assets a n d o m itte d u n d e r lia b ilitie s .

Standard Oil Company of New Jersey.

(Report for Fiscal Year ending Dec. 31 1906.)
The following data were furnished by officials of the
com pany at the hearing in New York before Special Federal
Referee Ferris, of Missouri, in the Government suit to dis
solve the combination. Frank B. Kellogg is the Govern
m e n t’s counsel in the case. This report should be examined
in connection with the statements in V. 85, p. 216, and V. 83,
p. 1293, and the editorial in V. 84, p. 1209.
I N C O M E A C C O U N T F O R C A L E N D A R Y E A R 1906.
P ro fit of ow n business -----_______________________________________ $10,409,890
Less— Losses a n d expenses________________________________ _______
837,894
N e t pro fit of o w n b u s in e s s _____________________________________




$9,571.996

[V o l .

lxxxv

.

A d d —- D ividends received fro m corporate stock , v iz .:
A c tien- G esellschaft, A t l a n . $14,176 N . W . O h io N a t. Gas Co. __ $98,967
319.966
A m e ric a n P e tro l? u m C o ___
35,350 : O h io O il C o _________________
A n g lo- A m er. OH C o., L t d . . 729.810 P e n n sy lv a n ia L u b ric atin g 45.000
A t la n t lc R e lin ln g ___________2,249,955 P itts b u rg h N a tu r a l G as C o .
37,200
B e d fo rd P e tro le u m ________
13,444 R a flin e rie F ra n c a ls e _______
3,084
Borne-Scry ms er C o ________
49,925 R e p u b lic O il C o ____________
262,500
B uckey e P ip e L in e _________ 5,799,798 R iv e r Gas C o . ______________
40 ,000
C arter O I L . ------------- 800,000 i Socleta Ita lo - A m .p e l.P e tre l
33,796
C hesebrough M fg ___________
59,706 S o la r R e lin in g C o___________ 449.460
C la rk sb u rg L ig h t & H e a t . .
5,100 |S o u th e rn P ip e L in e ________ 4 ,599,988
C o n tin e n ta l O il
405.000 S o u th P e n n s y lv a n ia O ilC o .4 ,324,827
Crescent P ip e _____________
800.000 S o u th W es t P e n n . P ip e L in e 420,000
D e n lin g e r B ros. O i l ____ _
38,978 |S ta n d a rd O il Co. (0 .1 .) _- _l ,019,970
711,663
D eutsch- A m . P e t. G e sell’t . 711,6631
Do
(In d ia n a ) 4 ,495 500
E u re k a P ip e L in e ___________3,049,634;
Do
(Io w a ) . . 3 ,904 097
G a le n a S ig n a l O i l _________ 1,377,200
Do
( K a n . ) . . _ l ,349.055
G ilb e rt & B a rk er M fg ______
50,0001
Do
( K y . ) ___ 1 ,994,400
H a ze lw o o d O i l _____________
5,650
Do
(N . Y . ) _ _ l ,499,990
Im p e r ia l O i l________________
4 1 ,4 0 6 1
Do
(O h lo )__- 174,970
I n d ia n a P ip e L in e _________ 2,179,346 ! S w an & F in c h _______________
90.000
1,800
M a h o n in g Gas F u e l-----89,940 ! T ay lo rs to w n N a tu r a l G a s ..
15,314
M arlon O i l ___________________
22,500 i U n d e rh a y O i l_______________
20.406
M o u n ta in S ta te G a s________
205,000 U n ite d O il O o_______________
25,018
N a tio n a l T ra n s it___________5.090,330 j W a s h in g to n O i l _____________
72,500
N ew Y o rk T ra n s it__________2,099,958 ; W e s t In d ia O il R e fin in g ___
5.700
N o rth e rn P ip e L in e ________ 2,000,000 [W e s t V ir g in ia O il C o _______
T o ta l d iv id e n d s received fro m corporate sto ck s_________________ $53,227,387
A d d — N et increase In v a lu e of corporate stocks carried as
in v e stm e n ts, such increase be ing cred ited to un collected
e a r n i n g s ___ _______________ _____________ _________________________
20,322,869
T o ta l profits fo r y ear 1906_______________________________________ $83,122,252
D educt— D iv id e n d s p a id d u r in g c a le n d a r y ear 1906 ( 4 0 % ) ____
39,335,320
B a la n c e , surplus for c a le n d a r year 1906_______________________ $43,786,932
A d d — P rofit a n d loss surplus Dec. 31 1905_______________________ 217,274.879
T o ta l pro fit a n d loss surplus Dec. 31 1906, as per balance
sheet be lo w _______________________________________;_____________$261,061,811
E A R N I N G S A N D D I V I D E N D S , Y E A R S 1882-1906, S T A N D A R D O IL
C O . O F N E W J E R S E Y.
Y ear—
P rofits.
1906 ----------------------- ---- $83,122,252
1905 --------------------------- 57,459,356
1904 _________________________________ 61,670,110
1903 _________________________________ 81,636,994
1902 _______________ __________________ 64,613,363
1 9 0 1 _________________________________ 52,291,767
1900 ------ -------------------- 55,501,774
1899 --------------------------- 34,420,314
1898 ________ __________•______________*35,000,000
1897 --------------------------- *35,000,000
1896 _______________________________ _ 34,077,519
1895 ----------------------- 24,078,076
1894 _______________ __________________ 15,544,325
1893 ---_____________________________ 15,457,354
1892 ________ _________________________ 19,174,878
1 8 9 1 ____________ _____________________ 16,331,886
1890 _________________________________ 19,131,470
1889 _________________________________ 14,845,201
1888 _______________ _________ ________ 16,226,955
1887 _______ __________ _______________ 14,026,590
1886 _________________________ _______ 15,950,787
8,382,935
1885 ............................. ........................ ..
1884 ---- ------------------ 7,778,205
1883 ---- ---------------- ---- 11,231,790
1882 ---- ------ -.............................
12,388,507

D iv id e n d s.
$39,335,320
39,335.320
35.188,266
42,877,478
43,851,966
46,775,390
46.691,474
32,008,541
29,175,000
32,092,500
30,147.500
16,532,500
11,670.000
11,670,000
11,874,225
11,648,826
11,200,089
10,620,630
113,705,505
y 8,463,327
7,226,452
7,479,223
4,288,842
4,268,086
3,695,253

B a l. .surplus
$43,786,932
18,124.036
26.381,844
38,459,516
20,761,397
5,516,377
8,810,300
2.411.773
5,825,000
2.907,500
3.930.019
7.545,576
3.874,325
3,787,354
7,300,653
4,683.060
7,931,381
4,224,571
2,521,450
5,563,263
8,124,335
903,712
3,489,363
6,963,704
8,693,254

* S uppo sed to be a p p ro x im a te ; n o t reported o ffic ia lly , x In c lu d in g $ 3 ,497,600 in shares of the Gas T rust,
v A lso stock d iv id e n d o f $15,028,200
P R O F IT S A N D

D IV ID E N D S O F S U B S ID IA R IE S F O R
1906 A N D 1903.

YEARS

D iv id e n d s on S ta n d a rd
-Profits------ O il H o ld in g s .---1906.
1903.
1906.
1903.
$
$
$
$
A c tle n G eselischaft, A tla n tic $120,097
$98,373
$14,176
$21 ,353
A m e ric a n P e tro le um C o ____ 1 .353,443
1.576,873
35,350
57,221
1 ,262,551
A n g lo- A m er. O il C o ., L t d —
2,520,291
729.810
2,434,367
A tla n tic R e fin in g C o ------- 5,506,237
9,794,190
2,249,955
8,499,830
B ed ford P e tro le u m C o _______
24,296
28,075
13,444
(?)
B orne-Scrym ser C o __________
70,176
37,458
49,925
‘ <?>
B uckeye P ip e L in e --------- 7,028,568
4,592,147
5,799,798
1,499,953
570,994
C a rte r O il --------------800,000
C hesebrough M a n u fa c tu r ln g .
231,714
28,729
4 9,9 86
59,705
94,461
C la rk sb u rg L ig h t & H e a t ___
5,100
C o n tin e n ta l O i l_______________
575,043
578,990
498,000
405,000
490,358
Crescent P ip e L in e C o _______
800,000
D eutsch- A m P e t. G esell’t - . 1,313,853
711,663
E m p ire R e fin in g C o ., L t d ___
5,032
2,076
4,055
E m p re z a I n d u s t r ia l_________
6 ,2 0 2
E u re k a P ip e L in e ____________ 2,435,105
3,049,634
2,949,646
3,118,361
G a le n a S ig n a l----- ----2,803,056
1,832,271
1,377,200
1,125,560
G ilb e rt & B ark er M fg. C o ___
50,000
63,509
42,604
28.0 00
______
H op e N a tu r a l Gas C o _______ 1,427,694
41,406
622,577
54.1 26
Im p e r ia l O il C o _______________ 1.082,364
2,179,346 3,798,860
I n d ia n a P ipe L in e __________ 2,713,553
4,196,664
Inter-State Cooperage_______
66,445
86,523
L aw rence N a tu r a l Gas C o ___
89,940
M a h o n in g Gas F u e l C o _______
45,364
22,500
M a rlo n O il C o ________________
57,780
205,000
M o u n ta in S ta te G a s -------165,178
5,340,032
5,090,330
N a tio n a l T ra n s it-- •------- 1,921,761
2,545.16 5
3,033,639
2.099,958
New' Y o rk T ra n s it-------- 2,343,282
3,949,289
80,502
N o rth e rn P ip e L in e -------- 1,591,614
2 , 0 0 0 ,0 0 0
79.992
359,550
N ortli- W est’n O h io N a t. Gasi
263,606
98,967
118,757
3,324,025
319,966
O h io O il C o ..... ...................... ..
2,090.492
1,199,918
99,221
121,586
P e n n L u b r ic a t in g ---------45,000
60,000
______
P eo p le’s N a tu r a l Gas C o ____
86,203
_______
P itts b u rg h N a t. Gas C o ____
24,341
37,200
2,082
R a ffln e rle F ra n ca lse __________
4,388
3,084
13,263
171,102
R e p u b lic O il C o ----------11 ,117
262,500
_______
84.895
Reserve Gas C o _______________
83,878
R iv e r Gas C o -------------40,000
63,141
R o m a n o - A m e ric a n a _________
321,182
372,131
Societa Ita lo - A m . P e tro lle - .
33,796
9,673
1,129,470
S olar R e fin in g C o ____________ 1,253,519
449,460
1,348,380
1,139,016 4,599.988
S o u th e rn P ip e L in e __________ 4,649,306
599,988
2,709,165
S o u th P e n n . O il C o __________, 2,609,721
4,324,827
(?)
373,384
_______
Sou.- W est. P e n n . P ipe L in e .
420,000
(?)
_______
S ta n d a rd O il C o. (C a lif.)____ 1,726,930
1,019,970
873,977
1,089,418
S ta n d a rd O il of I o w a _______
3,904,396
600,000
S ta n d a rd O il of I n d i a n a --- .10,516,082
8,750,410
4,495,500
8,491.500
S ta n d a rd O il of K e n t u c k y .. 1,307,780
1,772.173
997,200
1,994,400
*974,644
S ta n d a rd O il Co. (K a n s a s ). .
40,114
1,349,055
____
79,181
S ta n d a rd O il Co. (N ebraska)
S ta n d a rd O il o f N e w Y o r k .. 9,566,031 14,391,048
1,499,990 10,498,650
S ta n d a rd O il o f O h io ------ 1,009,526
960,184
174,970
174,970
150,080
64,735
S w an & F in c h C o_____________
91,093
90,000
T ay lo rsto w n N a t. Gas C o —
9,153
1,800
U n d e rh a y O il C o ---------16.507
3.952
12,033
15,314
_______
U n io n T a n k L in e C o ------164,703
260,346
V a c u u m OH C o ------------ 1,449,575
1,814,461
W a s h in g to n O il C o ...................
75,150
25,018
______
W es t I n d ia OH C o..- -----42,444
7,416
2 1 ,0 0 0
W est I n d ia O il R e fin in g C o . .
108,097
78,619
72,500
7,600
W e s t V ir g in ia O il C o . .
10,251
5,700
15,740
75,542,258 76 151 629 (N o t c o m p le te .— E d .)

S e p t . 28 1907.]

THE CHRONICLE.

B A L A N C E S H E E T O F S T A N D A R D O IL C O M P A N Y O F N E W J E R S E Y
D E C . 31 1906 (Com pare V . 85, p 216).
R e a l es ta te - . ____ ________________________________________________
C o n stru c tio n (517,751,682) a n d office fu r n itu r e
(532,817) ________________ __________________________ $17,784,499
Less d e p re c ia tio n ________________________________
6,619,724
---------In c o m p le te c o n s tr u c tio n _________________________________________
F lo a tin g e q u ip . ($42,S74) a n d ir o n barrels, etc. ($ 2 8 ,1 8 4 ).. .

$3,123,815

11,164,775
1,029,803
71,058

T otal p 'a n t __________________________________________________
S ta b le equ p n e n t ______________________________ ________________
Shares
Book
S tc c :
V alu e.
Issued.
Ow ned,
Other Investments—
"a"
300
$120,059
A c tie n Gesellschaft, A t la n t ic .
“ 6"
6
184,841
A m e ric a n P e tro le u m C o ______
11,386,712
A n glo- A m er. O il C o ., L t d ____ £1 ,000,000® 49,987
20,620,846
A t la n t ic R e fin in g C o __________$5 ,0 00 .00 0* 49,999
391,134
B ed ford P e tro le u m C o _______
“ c”
3,475
200 ,00 0* 1 ,99 7*
284,771
B om e- S cry m ser C o ___________
B uc k e y e P ip e L in e C o ________ 10 ,000,0001/199,994
12,204.238
1,770.994
C a rte r O il C o _________________ 2 ,000,000 20,000
5 00,000* 2.777
605,875
C hesebrough M fg. C o ., cons’d
510
122,677
100,000
C la rk sb u rg L . & H . C o ----3,042,939
250,000* 2,493
C olon ial O il C o ___________ _____
1 ,301,516
300,000* 3,000
C o n tin e n ta l O il C o ____________
60,000
2,940,358
Crescent P ip e L in e ____________ 3 ,000,000
D eutsc h- A m . P e tro e u m G e
9 ,0001
9,636,061
sellschaft— Shares ________ 7 ,140,0001
t 20 ,972]
S hare w a rra n ts .
785
100,000
78,475
E m p ire R e fin in g C o ., L t d ____
500.000
3 ,500
152,719
E m p re z a In d u s tr ia l de P e t ’l . .
E u r e k a P ip e L in e _____________ 5 ,000,000* 49 ,994
6,121,143
G a le n a S ig n a l Cil C o .- P re f’d . 2 ,000,000 J 14 ,875*1 3,364,712
C o m ___ 8 000,0001 55, 920*J
40.000
207 ,731
400
G ilb e rt & B a rk er M fg. C o . . . _
2 511
69 ,053
H a zle w o o d O il C o ____________
2,017 ,455
500.000
H’,000
H o p e N a tu r a l Gas C o ________
2,074 ,482
3 ,531
Im p e r ia l O il C o ., L t d ________ 4 ,000,000
4,364 ,652
In d ia n a P ip e L in e ____________ 1 ,000,000i/ 19 ,994
575 ,316
200.000
2 ,000
In te r- S ta te Cooperage C o ____
221 ,523
450.000
4 ,500
Law rence N a tu r a l Gas C o ____
172 ,749
150.000
7 ,495
M a h o n in g Gas F ue l C o _______
56 ,390
100.000
500
M a rlo n O il C o _________ _______
515 ,178
500.000
5 ,000
M o u n ta in S ta te Gas C o ............
N a tio n a l T ran sit C o _________ 25 ,455,200 509 ,033y 36,139 .579
N e w Y o r k T ran sit C o _____ . . 5 ,000,000 49 ,999* 7,222 ,115
39 ,999* 4,005 ,513
N o rth e rn P ip e L in e ___________ 4 ,000,000
356 ,586
N o r.- W e st’n O h io N a t. Gas C o .2 ,775,250 32 ,989{/
O h io O il C o ____________________ 10 ,000,000 79 ,994s 9,280 ,556
P e n n . L u b ric a tin g C o ________
300
137 ,421
50.000
1,086 ,203
P eople's N a t. Gas C o -------- 1 ,000,000 20 ,000
188 ,459
310.000
6 , 200
P itts b u r g h N a t. Gas C o ______
100
93 ,509
R a ffln e rie F ra n c a ls e .- ...........
61 ,084
350.000
R e p u b lic OH C o -----------874 ,593
,126
R eserve Gas C o _______________ 2 225.000
104 ,146
,000
R iv e r Gas C o _________________
190.000
,000
2,475 ,641
"d "
R o m a n o - A m e r lc a n a _________
202 ,266
50
S ocie ta Ita lo - A m . P e tro lle ___
500.000
4 ,994* 3,705 ,190
S olar R e fin in g C o _____________
99 ,999* 11,020 ,160
S o u th e rn P ipe L in e C o _______ 10 ,000,000
S o u th P e n n . OH C o ___________ 2 ,500,000
24 ,999* 14,915 ,185
3,453 ,384
S ou.- W est. P e n n . P ip e L i n e . . 3 ,500,000
35 ,000
S ta n d . O il Co. (C alifornia) __17 ,000,000 169 ,995* 21,329 ,325
9 ,990* 24,302 ,043
do
( I n d ia n a ) _____ 1 ,000,000
986 ,988
10 ,000*
do
( I o w a ) ------ lil ,000,000
9 ,993* 1,095 ,700
do
(K a n s a s ) ---- 1 ,000,000
do
(K e n tu c k y )___ 1 ,000,000
9 ,972* 4,212 ,479
678 ,615
do
(N e b r a s k a )___
600.000
5 ,995*
do
(N ew Y o r k ) ___ 15 ,000,000 149 ,999* 26,062 ,610
34 ,994* 4,816 ,348
do
( O h i o ) ________ 3 ,500,000
601 ,495
S w a n & F in c h C o _____________
100.000
1 ,000*
3 ,946
T aylorstow 'n N a t. Gas. C o ___
10,000
60
25,000
247
U n d e rh a y O il C o _____________
38 ,323
U n io n T a n k L in e ______________3 ,500,000
34 ,996* 2,645 ,135
15 ,868
3,401*
U n ite d O il C o _________________ 3 ,000,000
V a c u u m O il C o ________________ 2 ,500,000
25 ,000* 7,643 ,377
97 ,274
100.000
7 ,148
W a s h in g to n O il C o ___________
163 ,435
1 0 0 .0 0 0
993
W e s t I n d ia O il C o ---------186 ,013
300.000
1 ,500
W e s t I n d ia O il R e fin in g ---200.000
950
70 ,407
W e s t V ir g in ia OH C o _________
4.628 ,473
C o n tin g e n t a cc o u n t ................ ..
2,000 ,000
V a c u u m O il Co b o n d s ___________
5 ,266
M iscellaneous ite m s _____________

(Report for Fiscal Year ending A p r il 30 1907.)
The circular regarding the new stock issue is cited on a
subsequent page. The results for the year compare as below:
P rofits for y e a r ____ ____________
Less d e p re c ia tio n , repairs, & c ___

■U n d iv id e d p ro fits.

T o ta l_____ .1 0,5 44 ,9 57 9,757,827|
— V . 85, p . 724.

..........$371,664,532
F ra n c s.

C A P I T A L S T O C K A N D O R O S S A N D N E T A S S E T S lO N D E O . 31 .

N o.
J o h n D . R o c k e fe lle r--D . M . H arkness estate (12
h e ir s ) _________________
C harles P r a tt e s ta te ______
C ol. O liv e r H . P a y n e .. .
H e n ry M . F la g le r ..... .........
O . B. Je n n in g s estate ____
H . H . R o g e rs______________
J . A . B ostw lck estate ____
W H lla m R o c k e f e lle r .____
B e n ia m in B rew ster estate
Charles L o c k h a r t _________
— V . 85, p . 725, 473.

N e t Assets.
5196,220,017
2 05,480,449
210,997,006
231,758,405
270,217,921
297,489,225
315,613,261
359,400,193

{ P a r V alu e of S hares 5100).

S hares. |
•
N o . Shares.
2 4 7 ,6 9 2 1L. C. L e d y a rd a n d P a y n e
I W h itn e y ....................... .............8,000
80.000 i W illia m C W h itn e y e s ta te ____ 8,000
52,8021 W esley H . T ilf o r d _____________ 6,000
40,000! Jo h n D . A r c h b o ld _______________6,000
30,500 I W . G . W o r d e n _________________ 5,858
17.000 i U n iv e rs ity o f C hicago
............5,000
16,020 i Charles M . P r a t t .
_________ 5,000
15.0001 D a n ie l O ’D a y e s ta te ____ _______ 2,655
11,700 |S a m u e l A ndrew s e s ta te ________ 1,050
10.0001 H . C . F o lg e r_____________________ 2,145
8 ,5 0 0 | H . 11. Rogers J r _____________ 1,050

Standard Oil Co. of New York.
(Balance Sheet of J a n . 1 1907.)
This subsidiary of the Standard Oil Co. of New Jersey
(which see above) some time since filed the following state
m ent with the Massachussetts authorities:




$202,138

$4,135,679
2 ,150,000
$1,985,679
1906.
$
3,000,000
2,500,000
1,522,700
202,138
931,98
1,601.000

T o ta l________ 10,^44,957 9,757,827

(Official Statement of M ay 4 1907.)

1,750,000
'■(>” 7,850.000 F lo rin s.
“ a " 1,150,000 M arks.
" d ” 12,500,000 L ira .
’ 5,000,000 L ira .
“ v " P a r £2 0 per share.
" x ” P a r $100.
“ y ” P a r $50.
" s ” P a r $25.
“ V Business a cqu ired by S ta n d a rd O il C o. of C a lifo rn ia .

L E A D IN G S T O C K H O L D E R S

$492,138
(8 % ) 200,0001
(3 % ) 90,000]

The official statem ent made to the New York Stock
Exchange last May, when the company's stock was adm itted
to quotation in the unlisted departm ent, affords the following:

L ia b ilitie s .

Gross Assets.
$200,791,623
209,140,331
214,764,856
235,445,822
275,949,784
303,167,225
337,198.105
371,664,531

E ig h t years
a n d 9 m onths.
$6,228,135
2,092,455

Balaklala Copper Company ^ New York.

C a p ita l stock (In c lu d in g scrip $ 8 2 )------------------------- $98,338,382
A c co u n ts p a y a b le _______________________. ---------1. ---------12,264,339
P ro fit a n d loss surplus D ec. 31 1906------------------------ 261,061,811

C a p ita l S tock .
$96,998,612
97,448,743
97,448,923
97,448,923
97,448,923
98,338,382
98,338.382
98,338,382

$260,842

Y e ar
1905-06.
$697,301
205,163

B A L A N C E S H E E T A P R I L 30.
1907.
1906.
I
1907.
$
$
I L ia b ilitie s —
5
.4 ssets—
498,243
5 1 0 ,7 7 7 (C o m m o n stock. 3 ,SCO,000
C a s h ____________
913,190
937,976 ]P re f. stk . (8 %
M e rchand ise____
c u m u la tiv e ) _ _ 2 ,5 0 0 ,000
A c c ’ts receivable2 ,003,836 1 ,556,689)
930,560 [S u rp lu s __________1,724,837
B ills re ce lv ab le . 905,873
[ U n d iv id e d p ro fits 260,842
U n e x p lre d I n s .,
[A cc’ts p a y a b l e .. 800,278
R R . m ile a g e ,
119,448 I B ills p a y a b l e .- .2,25 9,0 00
121.650
& c_________ .
Treas. pref. s tk .
21,000
20,800
170,650
T reas. com . stk- 170.650
P la n t s , s te a m 
b o a ts , re al es
ta te , & c. -___5 ,910,515 5,510,927

T ota l assets_____________________________________ ______________ $371,664,532

1899 _______ _______________
1900
190 1
1902
- _________ _________
1903
1904
_____
1905
1906 ...................... -...............

Year
1906-07.
$820,087
269,245

N e t profits for y e a r____________
$550,842
D iv id e n d s p a id on pref. s to c k . _ (8 %) 200,000
D iv id e n d s p a id on co m . s to c k . _ (3 % ) 90,000

281,509,309

lia b ilitie s .

B A 1.AKCB S H E E T J A N . 1.
Asset*— J
1 907
f_ t 1906.
| lAabttUles1907.
1906.
$6,480,559 jCapital stock. _$lA/)00,000 $15,000,000
Real estate____f$ 6,496,708
Mach . & eonstr 5,472,951
6,335,4691Accts. payable 9,906,068
,,16,275,560
3,786,031'Profit and loss. 11.196,104
p 2,303,428
3,230,804
Vessels...........
31,756,629(Floating debt. 67,590,645
68,528,904
Stock 1 n proress 22,891,273
46,993,744]
Oash&debts.rec. 59,302,499
Stock & bonds. *5,701,674
6,145,280)
Stable equlpm ’t,
610,1801
andpurniture
586,908
•-ia- ----------- — ----— —
Total______ $103,682,817 $102,107,892
T otal______ $103,682,817 $102,107,892
— V. 85, p. 226.

A. Booth & Company (Fish Packers), Chicago.

T o ta l property ow n ed a n d I n v e s t m e n t s _______ ______ ________$297,125,253
In v e n to rie s of m e rc h a n d is e _______________________________________
17,871,421
A c co u n ts re ce iva ble________________________________________________
56,487,323
C ash ________________________________________________________________
180,534

T o ta l

791

In c o rp o ra te d un d e r th e law s of M a in e o n F e b . 24 190ft, T o ta l a u th o riz e d
c a p ita l sto ck , $ 6,000,000, in shares o f $10 each; $4,444,770 (444,477 shares)
has been fu lly Issued, fu lly p a id a n d non-assessable. F ifty per cent has
been p a id on $805,230 (80,523 s h a re s), a n d w h e n fu ll a m o u n t the re o n J s
p a i d , sam e w ill be issued a n d w ill be n o n assessable.
T he o rig in a l c a p ita l was $ 10 ,00 0,00 0, d iv id e d in t o 400,000 shares, p a r
v a lu e $25 each.
I n M a rc h 1907 th e p a r v a lu e o f th e shares was d u ly
chan g e d fro m $25 t o $10, a n d th e c a p ita l was decreased lro m $10,000,000
to $4,000,000; im m e d ia te ly th e re afte r th e c a p ita l w as increased fro m
$ 4,0 00 ,0 00 , d iv id e d in to 400,000 shares o f th e p a r v a lu e o f $10 ea c h, to
$ 6 ,0 0 0 ,0 0 0 , d iv id e d in to 600,000 shares o f th e p a r v a lu e of $1 0 e a c h , th e
p resen t c a p ita l of th e c o m p a n y .
Im m e d ia te ly fo llo w in g its in c o rp o ra tio n In 1906 t h e o o m p a n y , b y th e
Issue of its en tire c a p ita l sto ck , n a m e ly , 400,000 shares o f th e p a r v a lu e
o f $25 ea c h, pu rch ase d the entire c a p ita l stock of th e B a la k la la C o n so lid a te d
C opper C o ., a N e v a d a c o rp o ratio n h a v in g a c a p ita l stock of $ 1 0 ,00 0,00 0,
d iv id e d in to shares of $25 each. T he B a la k la la C o n so lid a te d C oppe r C o.
w as o rg an ized A p r il 25 1903. Its present p ro p e rty Is s itu a te d 270 m iles
n o rth of S a n F rancisco B a y , in th e F la t Oreek M in in g D is tr ic t, S h a sta
C o u n ty , C a l., a n d 3 m iles fro m C o ra m S ta tio n , on th e S o u th e rn P a cific R R .
There are 72 m in in g c laim s agg re g ating 1,149.7 acres, In th e m in e ra l z o n e ,
exclusive o f th e ae ria l t r a m w a y , sm elter site a n d to w n o f C o ra m .
T itles
vested in th e c o m p a n y b y p a te n ts Issued b y th e U n ite d S ta te s of A m e r ic a .
The surface Is w ell tim b e re d w ith excellent p in e , a n d there Is a n a b u n d a n t
s u p p ly of w a te r. A c tiv e d e v e lo p m e n t o f th e s u lp h id e ore, be gun in th e
sp rin g of 1902, 6how s t h a t th e c o u n tr y roc k is m e ta - rh y o llte , a n d t h a t th e
ore bodies are q u ite fla t, w ith a d ip to th e n o r t h , a n d are d isp lac e d b y a
series o f step-dow n fa u lts , fro m th e 60Uth to th e n o rth ; th e ore is a h e a v y
Iron s u lp h id e , c a rry in g g o ld , sliv e r a n d copper.
T he p r o p e r ty covers
3,040 feet on th e strike of th e lo d e . O u t o f tn ls d is ta n c e 1,100 feet ha v e
been developed b y v arious tu n n e ls a n d d r ill holes. A n ore b o d y 900 feet
lo n g on th e strike a n d v a ry in g in thic k n ess fro m 20 to 60 feet has been
de v elop ed. T he a c tu a l t o ta l ore in s ig h t on th e sa id c o m p a n y ’s p ro p e rty
is 2 , 2 0 0 ,0 0 0 to n s , w ith a he av y a d d itio n a l e s tim a te d to n n a g e ,
t ip to
A p r il 1 1907 th e average assay o f th is ore ra n 2.7 % copper, w ith a b o u t 40
cents gold a n d one ounce silver. T he m in e is w ell e q u ip p e d w ith b o a rd in g
hou se, b u n k hou se, d w e llin g houses, office b u ild in g , m a c h in e sh o p , b la c k 
s m ith sho p , pow er-house, a ir com pressors, a n d w ith electric h a u la g e sy stem
In the W e il T u n n e l. T he m in e Is b e in g conn e cted w ith th e sm e lte r b y a n
ae ria l tra m w a y n o w n e a rly c o m p le te d , 16,130 feet in le n g th , of a c a p a c ity
o f 75 tons per h o u r. A sm e lte r o f a c a p a c ity of 900 to 1,000 to n s pe r clay
is be in g b u ilt a t C o ra m , a n d w ill be c o m p le te d in A u g u s t or S e p t. 1907.
c o n s is tin g o f three b la st furnaces a n d one re verb eratory .
T he c o m p a n y ow ns th e to w n site of C ora m .
T his c o m p a n y a n d th e B a la k la la C o n so lid a te d C oppe r C o. ha v e ex pe nd ed
In entire g ro u n d , d e v e lo p m e n t a n d tu n n e l c o n s tru c tio n a b o u t $500,000.
T he tra m w a y w ill cost a b o u t $125,000.
T he B a la k la la C o n so lid a te d C opper C o. has a m o rtg a g e d e b t o f $1,500,000
first m ortga ge gold bo nds, due as follow s; Series " A , ” $375,000, d u e on
J u ly 1 1907; Series • B ,” $375,000, d u e on J u ly 1 1908; Series " C , ” $375,000,
d u e o n J u ly 1 1909; Series ' ‘D , ’’ $375,000, d u e pn J u ly 1 1910, b e in g 1,500
bo nd s o f $1,000 ea c h, in terest rate 6 % p e r a n n u m , p a y a b le J a n . 1 a n d J u ly 1 .
The bo nd s are secured b y a m o rtg a g e d a te d J u ly 1 1905 to th e C a lifo rn ia
T itle In s u ra n c e & T rust C o. o f S an F ran cisco, as trustee .
There are n o o u ts ta n d in g c laim s h ostile to th e c o m p a n y o r a n y o f It*,
properties.
B A L A K L A L A C O P P E R C O . B A L A N C E S H E E T A P R I L 30 1907.
Assets ($6,609,509)—
$
L ia b ilitie s ($6 ,60 9,5 0 9)—
$
C a p ita l stock (600,000 shs.,
400,000 shares o f B a la k la la
C o n .C o p p .C o .s tk .a t $ 1 0 ..4 ,0 0 0 ,0 0 0
p a r, $ 1 0 ............ ................ . 6 ,0 0 0 ,0 0 0
In te re s t, &c. (on d e p o sits).
A m o u n t d u e b y B a la k la la
9,590
C o n so lid a te d C opper Co-1,125,112 S u rp lu s (w o rk in g c a p ita l) _ . 600,000
T reasury s to c k _____________
750,000
H a y d e n , S ton e & C o ., on
u n d e r w r i t i n g ---------- 427,260
$35,000 B a la k la la Cons. 6 %
b o n d s, due J u ly 1907--35,000
G eneral expenses--------39,720
C ash o n h a n d ___________ ___
232,417)
BALAKLALA

C O N S O L ID A T E D C O P P E R C O . B A L A N C E S H E E T .
A P R I L 30 1907.
L ia b ilitie s ($12,713,386)
$
Assets ($12,713,386)
$
stock
(400,000
V a lu e o f p r o p e r ty -------11,500,000 C a p ita l
shares, p a r , $ 2 5 )_______ 10,000,000
C o n stru c tio n o f p la n t --631,743
D e v e lo p m e n t of m in e --151,087 S ix per cent b o n d s ............. 1,500,000
In te re st on b a c k c o u p .p d .o ff
90,112 D u e B a la k la la C oppe r C o . 1,125,112
88,274
1-3 in t . in S h e rid a n g r o u p .
30,000 S u rp lu s (w o rk in g c a p it a l).
C ash o n h a n d _____________
310,444
D irecto rs; Clarence K . M c C o rn lc k .P re s .; N . A d a m s E g b e rt, V ice Pres, a n d
Sec.; T . M . T. R a b o r g , T reas.; E d g a r L . N ew house; George A . B a ir d .
N ew Y o r k o ffic e . 2 5 B ro a d Street.-—V . 8 4, p . 1250.

THE CHRONICLE.
Electrical Securities Corporation, New York.
(Report for Half-Year ending A pril 30 1907.)
This company, incorporated Oct. 13 1904, its principal
office being at Schenectady, N. Y ., and its New York office
at 62 Cedar Street, reports in substance as follows for the
half-year:
P ro fit a n d Loss A ccount fo r S ix M o nths E n d in g A p r il 30 1907.
In v e s tm e n t b o n d interest received a n d a cc ru e d _____________________ $46,631
U n d e rly in g b o n d interest received a n d a cc ru e d _______________________ 100,038
In te re st received a n d accrued o n n otes, b a n k deposits, & c_________
6,156
D iv id e n d s received o n in v e s tm e n t stock s_____________________________
26,367
P ro fit on securities a n d su n d rie s _______________________________________ 57,043
T o t a l.......... ....................................: ----------- •______________________ $236,235
C olla te ra l tru s t b o n d interest p a id a n d a cc ru ed______________$76,989
C om m issions p a i d ______________________________________________
19
P re m iu m s p a id for re d e m p tio n o f collate ral tru s t 5 % b o n d s .
180
E xpenses .............................................................................................. 25,232
---- — 102,420
N e t .................................................................................................................... §133,815
Increase in bo ok v a lu e o f assets d u rin g six m o n th s e n d in g A p r il 30 35,923
T ota l net p r o f i t : ---- _______________ _____ _______ __________________ $169,738
Preferred sto ck d iv id e n d s due a n d p a id M a y 1 1907________________
25,000
N et pro fit carried to s u r p lu s___________________________
.
$144 738
S urp lus as o f O c t. 31 1906____________ _________ j ........................................ 783i397
,

S u rp lu s as of A p r il 30 1907__________________________________________ $92 8,135

B A L A N C E S H E E T A P R I L 30 1907.
A x$et$—
$
| L ia b ilitie s —
$
P led g ed to secure c oll. tru s t
C ollate ral tru s t 5 % b o n d s . . 2,994,000
5s (p a r. $ 3 ,9 8 2 ,0 0 0 )____ 3,246,4551 C o m m o n s to c k ______________ 2,000,000
I n tru s t for re d e m p tio n of
I Preferred s t o c k ________ ...1 ,0 0 0 ,0 0 0
collate ral tru s t 5 % bo nd s
2 ,8 6 5 1A ccrued Interest p a y a b le ..
28,827
In v e s tm e n t stocks (p ar, $3,|Coupons due M a y 1 1907___
33,150
4 4 8 ,8 0 0 ).............. ............... 1,702,441 Preferred d iv id e n d s p a id
M a y 1 1907 (N o. 5 )______
25,000
In v e s tm e n t bo nd s (p ar, $1,9 9 9 ,0 0 0 ) _________________ 1,592,883 N otes p a y a b le . 1 . __________ 447,000
Taxes a c c r u e d ______________
762
f o r p a y m e n t m a tu r e d c o u 
p o n s.:____________ ________
33,150 N et p ro fit since N o v . 1 1904 T 4 2 8 ,136
N otes a n d a cc oun ts receiv
S u rp lu s as of N o v . 1 1 9 0 4 ..$ 5 0 0 ,0 0 0
able'(face v a lu e )__________ 262,325
S y n d ic a te accts. (u n d e rw r.) 473,250
A c crued interest receivable
99,987
43,519
C a s h _________________________
T ota l a s s e ts ______________7,456,875|
T o ta l lia b ilitie s ___________ 7,456,875
T he c ollate ral tru s t 5 % bo nd s issued to d a te are in fo u r series, each series
o rig in a lly $ 1 ,0 0 0 , 0 0 0 , a n d a ll d u e th ir ty years a fte r d a te o f bo nd s, b u t a n y
or a ll sub ject to call for p a y m e n t a t 103 a n d interest o n a n y interest date
a t 103 a n d Interest. F irs t series d a te d N o v . 1 1904; second series F eb. 1
1905; th ir d series M a y 1 1905; fo u rth series J a n . 1 1906.
In te rest p a y a b le
semi a n n u a lly fro m d a te of bo nd s a t office of S ta n d a rd T rust Co. o f N ew
Y o r k , trustee. T he a m o u n t o f th e several issues redeem ed to A p r il 30 1907
a n d th e average price p a id for re d e m p tio n , also th e a m o u n t of u n d e rly in g
bo nd s sold a n d th e average price received therefor a p p e a r from th e fo llo w in g .
F ir s t
Second
T hird
F o u rth
Total.
Series.
Series.
Series.
Series.
C oll. tru s t 5s, c a n c e le d ..$51 1,0 0 0 $223,000 $197,000
$75,000 $1,006,000
A verage price p a id ___
102%
1 0 1 .2 % 1 0 0 .5 3 %
9 9 .1 %
.................
U n d.....................................
e rly in g bonds s o ld.....................
.. 539,000 235,000 213,000
78,000
1,065,000
A verage price received
97 %
9 6 .2 %
9 3 .3 %
9 5 .8 %
C o ll.tr .5 s,out A p r . 30 ’-07 489,000 777.000 803,000
925.000
2.994.000
*do do
J u ly 31 ’07 406,000
695.000 803,000
846.000
2.750.000
* S u p p lie d to “ C h ro n ic le .”
B O N D S P L E D G E D TO S E C U R E CO LLA T E R A L TRUST 5s.
First
Name oj Bonds.
Series.
Anniston(Ala
Co. *50.000
Asheville (.V.C.) Elec. Co ., 200,000
Ashland (Wis.) L.P.& St.Ry. 46.000
B atte (Mont.) Elec. & P.Co ______
Chattanooga (Tenn.) El.Co. 200,000
Col. New. & Zanes.El.Ry.Co 90,000
Columbus (O.) NorthernKy.
Power & E quipm entC o.. ______
Dallas (Tex.) Electric Corp
______
D ulu th (Minn.) Gen. El. Co. ______
Edison Sauit Electric Co..
Sauit Ste. Marie,M ich............ ........
Fdirmont&ClarksburgTn.Co ______
F t Sm ith (Ark.) Lt. & T.Co ______
Helena (Mont.) Lt.
Ry.Co __
.
Houston (Tex1) Lt. & P. Co. ____
Indianapolis & N..W.Tr.Co. 125.000
Montana PowerTransm.Co. ______
Northern Indiana Ry. C o .. ...........
Nor. Ohio Trac. & Light Co. ______
Oklahoma (City, O. T.) Gas
& Electric Co____________ ______
Omaha (N eb.)EI.Lt * P.Co. ______
Superior(Wis.)W. L .& P .C o............. ..
Union Elec. Co. .Dubuque, la ...........

—Held A pril
Second
Series.
$50,000
100,000

30 1907Third
Series.
S22,000
70.000
44.000

50.000
90.000

Fourth
Series.
$61,000
50,000

85.000
92.000

...........
______
50,000

80,000
200,000
75,000

125.000
240.000

100,000
101,000

205.000

100,000

125.000

100.000

50,000
175.000
183.000

300,000
100,000
88,666

Sold to
A p ril 30.
None.
None.
54.000
66.000
None.
120.000
24,000
None.
101,000
None.
None.
None.
None.
150.000
None.
None.
None.
None.
None.
400.000
None.
200.000

T otal--- ;........................... $711,000 $1,035,000 $1,052,000 $1,184,000 $1,065,000
Directors: George R . S h e ld o n , Pres.; E . R . C o ffin , Vice-Pres.; W . T .
K a u fm a n , Sec. a n d T reas.; G o rd o n A b b o t, W . M . B a m u m , E . K . B o lso t.
C. A . C o ffin . G . M . C u m m in g . H e n ry W . D a r lin g , F . L . E ld r id g e , P lin y
F is k , W ilb u r C. F isk . O . L . G u b e lm a n , S. M . H a m lll, M . B . J o h n s o n , W m
C . L a n e , M arsden J . Perry, A . P o n la to w s k l, J . G . S c h m ld la p p , J . J . S torrow
E . T . S to te sb u ry , A lb e rt A . T lln e y , F . W . W a lz , H . W ln te r fe lt.
— V. 81. p. 779.

Torrington Company.
(Report for Fiscal Year ending Sept. 1 1907.)
President Henry H . Skinner says in substance:
T he c o m p a n y has h a d a v ery sa tisfa c to ry y ear, f u lly e q u a l to la s t y ear.
T he foreign branches In E n g la n d a n d G e rm a n y have b o th increased th e ir
p ro d u c tio n m a te ria lly a n d are d o in g w e ll.
I n general, a ll of y o u r p la n ts
ha v e been im p ro v e d a n d a d d e d to .
T he S ta n d a rd C o m p a n y (of w h ic h y ou ow n tw o-thirds o f th e s t o c k ),
ow in g to Its large increase o f business, has been o b lig e d to b u ild a new fac
to ry , c ostin g $90,000, w h ic h has been e n tire ly p a id for o u t o f its earnings
T o d o th is It was necessary for th e S ta n d a r d C o m p a n y to suspen d its divdends fo r th is year, b u t th e directors fe lt th a t It w as wiser to p a y for the
b u ild in g in th is w a y th a n to borrow m o n e y .
N e xt year th e S ta n d a id C o m 
p a n y s h o u ld p a y a s u b s ta n tia l d iv id e n d , w h ic h w ill, o f course, increase th e
earnings o f y o u r c o m p a n y p ro p o rtio n a te ly .
Business fo r the c o m in g year prom ises to be good.
T here h a v e been n o purchases m a d e b y y o u r c o m p a n y d u r in g th e pa st
year.
There has been received $8,800 for the re d e m p tio n of 88 shares of
th e U n ite d A w l & N eedl ■Co. preferred sto ck , be ing the b a la n c e of pre
ferred stock w 'llc h y o u r c o m p a n y h e ld .
T he cash ba la nc c on h a n d Sept 1
1907 is $180,497.
Y o u r c o m p a n y has no Indebtedness o ther t h a n its mortbonds.




[V o l .

lxxxy

.

IN C O M E A C C O U N T F O R T H E
Receipts—
1906-07.
D iv id e n d s fro m sub-cos.
$181,500
2,791
M iscellaneous In c o m e ___
R e n t a l s __________________
1 1 0 ,0 0 0

Y E A R S E N D IN G S E P T . t.
1905-06.
190* * 4 .
1904-05.
$17S,307
$208,138' |
$183,374
6,223
100,833
1 1 0 ,0 0 0
U 0 JO *

T o ta l re ce ip ts________
P aym e nts—
In te re st on b o n d s _______
D iv id e n d s ( 7 % ) ________
S alaries & directors’ fees
S u n d r y p a y m e n ts _______

$294,291

$315,194

$293,374

$289,307

$50,000
230,000
8,250
1,126

$50,000
230,000
8,480
949

$50,000
230,000
7,446
2,759

$50,000
230,000
6,838
2,109

T o ta l p a y m e n t s ______
S u rp lu s fo r y e a r________
Cash a n d cash assets end
o f year . . . __________
— V . 83, p . 1409.

$289,376
$4,915

$289,429
$25,765

$290,199
$3,175

$288,947
*360

$180,497

$166,781

$234,286

$231 ,111

G E N E R A L IN V E S T M E N T N E W S.
R A IL R O A D S , IN C L U D IN G STREET R O A D S .
Boston & Maine R R .— New Bonds.— The shareholders will
vote Oct. 6 on authorizing an issue of bonds not to exooed
$6,000,000, to provide for floating debt and for m aking per
m anent additions and improvements.
Sale of Motes.— Bond & Goodwin, Boston , New Y ork,
&c., have placed, mostly a t 100J^, $4,000,000 of 1-year 6 %
coupon notes dated Oct. 1 1906, interest payable quarterly.
The notes are not secured by collateral, and we are informed
were issued, in great part at least, for improvements in pro
gress . On June 30 1906 there were $3,450,000 notes o u t
standing, which, it is reported, are to be largely replaced by
the new notes. The Massachusetts law lim its the term of
notes to one year, thus placing a company at a disadvantage
as regards short-term obligations.— V. 85, p. 464, 39.
Central of Georgia R y .— Listing of Certificates of Deposit.—
The New York Stock Exchange has listed Central Trust Co.
certificates of deposit for $2,498,000 second preference in 
come bonds, and M anhattan Trust Co. certificates of deposit
for $1,350,000 third preference income bonds, and has author
ized the listing of additional amounts upon notice th a t the
bonds have been deposited and the certificates issued, not
to exceed a total of $7,000,000 second pref. income bonds
and $4,00.0,000 third pref. income bonds.— V. 85, p. 721, 663.
Chicago & Alton R R .— Held to be Im m une.— Judge Landis
in the United States District Court at Chicago on Tuesday
decided that the company is imm une from prosecutioa in
connection with the Standard Oil rebate charges. District
Attorney Sims read to the court a letter of Attorney-General
Bonaparte recommending this disposition of the m atter, in
which he stated that im m unity was promised by former
District Attorney Morrison, Mr. Sims’ predecessor. 0*nipare V. 85, p. 404.
Sale of Control Ratified.— The directors of the Toledo S t.
Louis & Western yesterday ratified the recent sale of control
to the Toledo St. Louis & Western.— V. 85. p. 529.
Chicago City R y .— Earnings.— For the six months ending
Ju ly 31 1907:
Gross
Net
E a rn in g s .
E ir n in g s .
$4,057,336 $1,217,103
— V . 85, p . 721, 529.

Taxes
A ccr'd.
$137,500

I n t . on
B a l a n c e ---O f W hich to---Invest.
D iv isib le . C o ., 4 5 % .C ity .5 5 %
$576,037 $503,566 $225,348 $278,218

Chicago Junction R ailroad.— Bonds— Completion of Road.
— The issue of bonds in connection with this enterprise is
now $2,200,000. I t is expected that the road will be com 
pleted and in operation some time in February 1908.
T he C hicago J u n c t io n R R . Is to be an ele v ated road , e m b ra cin g 3.75 m iles
o f trac k a n d e x te n d in g fro m Ju n ctio n w ith S o u th S ide E le v a te d R R . a t 40th
S t. to th e S to c k Y a rd s .
I t ha? been leased to th e S o u th S ide E le v a te d for
50 years (w ith rig h t to purchase a t cost w ith in 20 years) a t a re n ta l covering
b o n d Interest a n d a ll expenses. C a p ita l stock , $50,000.
B on ds are g u a r
a n te e d , p r in c ip a l a n d Interest, b y C hicago J u n c tio n R a ilw a y s & U n io n
S to c k Y a rd s Co.; th e y are su b je c t to call a t 105 a fte r 1910. F o rm o f g u a r 
a n ty V . 82, p . 568.— V . 82. p . 568.

Chicago Junction R ailw ay.— Lease— Agreement to P u r 
chase— Assumption of Bonds.— We have been favored w ith
the following authoritative statement:
T his c o m p a n y ’s p h y sic al a n d fin an c ia l s ta tu s changed m a te ria lly on J u ly 1
last.
E ffe ctive th a t d a te th e tracks of w h a t was term e d o u r “ o ute r lin e ,”
le a d in g from F r a n k lin P a rk to W h it in g , to g ether w ith a ll lease arra n g e
m e n ts w ith th e C hicago T e rm in a l T ransfer R R . C o. a n d o th e r properties,
also lease a rra n g e m e n t as regards th e M lch le an C e n tral R R . C o .’s tracks
le a d in g fro m U n io n S tock Y a rd s to C h a p p e ll, were a ll tu rn e d over to th e
I n d ia n a H a rb o r B e lt R R . C o. u n d e r lease a n d agreem ent of purch ase , to
become effective O c t 31 1907, w ith th e privilege of e x te n d in g the tim e for
a n a d d itio n a l six m o n th s , prov id e d affairs are n o t In shape to c o n s u m m a te
th e c o n tra c t of sale. T he I n d ia n a H a rb o r B e lt R R . C o. assumes the
bo nd e d d e b t of th e “ o ute r lin e " a ggre gating $2,500,000; also the contra c ts
a n d o b lig atio n s affecting th e h a n d lin g o f the p ro p e rty .
T his w ill leave th e present single-track m ileage o f th e C hicago J_________
u n c t io n
R y . — “ In ne r lin e ,” w hich com prises th e tracks w ith in the U n io n S tock
Y a rd s d is tric t— 11.81 miles; sidetracks a n d In d u s tria l tracks 118.58 m iles,
w ith no bo nd e d d e b t, the c a p ita l stock of the C hicago J u n c tio n R a ilw a y C o.
re m a in in g the sam e, n a m e ly $ 2 , 2 0 0 ,0 0 0 (a ll ow ned by the C hicago J u n c tio n
R a ilw a y s & U n io n S tock Y a rd s C o .— E d . ) . — V . 84, p. 1488.

Chicago Milwaukee &St. Paul R y .— A nnual Meeting— New
D i r e c t o r A t the annual meeting in Milwaukee on the 21st
inst., L. J. Petit, President of the Wisconsin National Bank
of Milwaukee, was elected a director in place of Joseph Milbank of New York, who retired.
Line to Coast.— The new line, it is expected, will be in oper
ation as far as Butte by February of next year, and completed
to the Coast by the middle of 1909. The interest on the
money used in construction is charged to the cost of the line
until its completion. The stock will be issued for this money
after the completion of the line.
Outlook.— A friend of the management says:
The earnings o f the present S t. P a u l system for the year e n d in g J u n e 30
1907 show a surplus over present d iv id e n d require m en ts of $4,696,294.
T his in clu des $946,868 a d d itio n s to p r o p e rty , m a k in g a c tu a l surplus
$5,643,162.
Besides th is there were large charges to m a in te n a n c e ofje quip
m e a t, w hich w ill n o t be necesspary a n o th e r y ear, so th a t lt is very s w l l s t

S e p t . 28 1907.]

THE CHRONICLE.

w ith earnings re m a in in g as th e y are th e present S t. P a u l lin e w ill earn
en ou gh n et to tak e care of the fu ll d iv id e n d o n th e stock lepresented in the
cost of th e new lines.
I t is fa ir to suppose t h a t th e new lines w ill earn so m e th in g as soon as
o p e ne d.
I t is claim e d b y the S t. P a u l people t h a t th e n ew lines w ill take
care o f them selves a t the s ta rt.
Be t h a t as lt m a y . th e S t. P a u l can tak e
care of a n y de ficie ncy , if there be a n y , o u t of th e surplus In com e , w h ic h
a m o u n te d to $38,862,461 J u n e 30 1907, a n d is a ll in cash or cash assets,
ex cept stock o f m a te ria l, say $3,000,000. ‘ So t h a t it is a p p a re n t t h a t the
S t. P a u l can ta k e care of th e stock Issued for th e new lines, even if the present
lines d o n o t earn a n y surplus over present re quire m en ts, a n d the new lines
d o n o t earn a cent for a t least five years.— V . 85, p . 652, 220.

Colorado & Southern R y .— Controlled Trolley Company
Makes Mortgage.— See Denver & Interurban R R . below.—
V. 84, p. 694.
Denver & Interurban (Electric) R R .— Bond Issue.— This
company, an auxiliary of the Colorado & Southern, has
madfe a first mortgage to the Guaranty Trust Co of New
Y ork, as trustee, to secure an isuse of S I,250,000 6% bonds,
$1,000 each m aturing July 1 1937. The road is under
construction from Denver to Louisville Junction, about 16
milos,and from th a t point to Boulder will use under lease Colo
rado & Southern tracks aggreaating 28 miles, which are to
be electrified. The stock and bonds are all held in the
treasury of the Colorado & Southern.— V. 79, p. 1266.
Fitchburg R R .— Bonds, &c.— The shareholders at the
annual meeting on Sept. 25 adopted the several propositions
mentioned in our issue of Sept. 21, including the authoriza
tion of an issue of $2,900,000 bonds, of which .$2,000,000 for
refunding an issue due May 1 1908. Compare V. 85, p. 722.
Great Northern R y .— Rebate Decision— Hepburn Act Held
Amendatory of Elkins Act.— The United States Circuit Court
of Appeals at Denver on Monday affirmed the judgm ent of
the United States District Court handed down in Minneapolis
in May last holding the company guilty of giving rebates and
imposing a fine of $15,000.
A oc o rd in g to press dispa tche s, the c o m p a n y conte n d e d t h a t th e E lk in s
A c t o f 1903 m a k in g lt a n offence to g ra n t rebates w as repealed b y th e la te r
H e p b u r n A c t (of 1906) in such a m a n n e r t h a t there after there c o u ld be no
prosecutio n for offences c o m m itte d p rio r to th e passage of th e H e p b u rn
la w . T his c o n te n tio n the C o u rt ov e rru le d , h o ld in g t h a t th e H e p b u r n A c t
is a n a m e n d a to r y a n d n o t a repealing A c t; t h a t In so far as It repeats or
reproduces po rtio n s of the E lk in s A c t lt contin ues th e m in force a n d causes
n o bjreak in th e o p e ra tio n of the earlier la w , changes in th e la te r la w , h o w 
ever, be ing in effect a repeal of c o n tra d ic to ry provisions In the E lk in s A c t.
— V . 85, p . 600, 530.

Gulf & Ship Island R R . — Report.— For year ending June30:
F is c a l
Aver.
Gross
N et
Other
F ix e d
D ir s . B a l.,S u r .
Y e at—
M ile s . E a rn in g s .
E a rn s .
In c .
Chges.
(4 % ).
o r D c f.
1909-07 . . . 307 $2,485,949 $601,991 $24,564 $309,083 $240,000 $77,472
190D-06 . . . 284 2,138,778
681,667
25,392
305,784 240,000 161,275
1904-05 . . . 275 1,877,397 480,155
6,221
306,926 220,000df40,550
— V . 8 3, p . 905.

Houston & Brazos Valley R R .— Bonds.— The Texas#Railroad Commission on Sept. 20 sanctioned the issue of $200,000
bonds by this successor of the old Velasco Brazos <fe Northern
— V. 84, p. 931.
Houston & Texas Central R R .— Called Bonds.— First m ort
gage bonds of 1890 aggregating $200,000 have been drawn
by lot and will be redeemed at 110 and interest on presenta
tion at the com pany’s office in the Equitable Building, this
city, interest ceasing Nov. 25 1907. See advertisement on
another page of to-day’s “ Chronicle.” — V. 84, p. 749.
Illinois Central R R .— Circular Calling for Proxies.— ExPresident Stuyvesant Fish, under date of Sept. 21, has sent
a circular to the shareholders explaining his reasons for
objecting to the management of the property by the Union
Pacific interests. The circular requests the shareholders to
sfgn proxies appointing Stuyvesant Fish, or (failing him )
Charles M. Beach, or (failing them ) J. D eW . Cutting, a t
torney or proxy to represent their shares at the annual meet
ing to be held Oct. 16 1907.
On Tuesday President H arahan made a rejoinder to the
statement of Mr. Fish, denying absolutely that the com
pany’s accounts have in any way been m anipulated, stating
th a t there has been no change whatever in the relation of
the road w ith the Union Pacific, and m entioning several
reasons why a m ajority of the board thought it as well that
Mr. Fish should retire from the presidency. Mr. Fish sub
sequently issued a second circular.— V. 85, p. 654, 345.
Ind iana Harbor Belt R R .— Lease and Agreement of P u r
chase— Assumption of $2,500,000 Bonds of Chicago Junction
Railway.— See th a t company above and compare V. 85, p.
345, 284.
Indianapolis & Louisville Traction Co.— Xew Bonds.— A
mortgage has been filed in favor of the Colonial Trust Co.,
Pittsburgh, and its trust officer, F. F. Brooks, as trustees,
to secure $400,000 “mortgage and collateral trust” 6% five
year (convertible) gold notes, dated July 1 1907, and payable
Ju ly 1 1912, b u t subject to call at any time at 102)A and
interest. Interest payable at office of trustee J. & J.
O f the a u th o rize d Issue, $300,000— in d e n o m in a tio n s of $1,000 each—
has been Issued.
T he re m a in in g $100,000 Is In d e n o m in a tio n o f $500 each.
A ll o f th e notes are conv e rtib le a t th e o p tio n o f th e hold er, a t p a r , in to 6 %
c u m u la tiv e preferred stock (p ar v a lu e o f shares $100).
F o u r h u n d re d
th o u s a n d do llars of th e a u th o riz e d issue of $500,000 o f preferred stock
has been de posited w ith th e trustee to p ro v id e for th is conversion.
The
proceeds of th e notes Issued are be ing used to com plete a n d e q u ip th e re ad
fro m S e y m o u r, I n d . , to S ellersburg, I n d .
T he road Is now p ra c tic a lly
finished a n d w ill sh o rtly be In fu l! o p e ra tio n .
The officers are now : J . C .C . M a y o . P a ln ts v llle , P re siden t: J o h n E .G re e le y ,
L o u is v ille , 1st Vlce-Pres.; W . L . L y o n s, L o u is v ille a n d N ew Y o r k , 2d VicePres.; A le x a n d e r C . T h o m p s o n , P itts b u r g h , P a ., Secretary a n d Treasurer;
R . J . T h o m p s o n , S e y m o u r, I n d . , A ssist. Sec. a n d Treas.; A . A . A n d e rs o n ,
C o lu m b u s , I n d . , G eneral M a n a g e r.— V . 83, p . 1290.

Interborough-Metropolitan Co.— Receivership for SubCompany.— See New York City R y . below.
First Trip Through Tunnel to Long Island City.— See New
York & Long Island R R . below.




To Permit Books to be Examined.— The company this week
gave notice that it would waive its objections to the ex
am ination of its books by the Public Service Commission
in the pending inquiry. Compare V. 85, p. 469.— Y . 85,
p. 654, 600.
Iow a Central R y .— Report.— For year ending June 30:
Y ear—Gross.
1 9 0 6 - 0 7 ................ ..$ 3 ,1 3 2 ,0 4 8
1905-0 6
2,958,587
— V . 85, p . 722.

N et.
$981,840
774,849

Other In c . Charges.
$219,627
$755,872
217,687
755,094

B a l.,S u r .
$445,595
237,442

Knoxville (Tenn.) R ailw ay & L ig ht Co.— Dividends on
Common Stock.— The directors have declared a second divi
dend, 1% , on the $1,491,900 common stock, payable Sept. 30.
The first dividend on this stock was 2 % , paid June 29 1907.
—«-V. 85, p. 405.
Metropolitan Street R y ., New Y o rk .-—Receivership for
Lessee Company.— See New York City R y . below.— V. 85,
p. 469.
Mexican Central R y .— Report.— For fiscal years ending
June 30 (in United States currency.)
Y ear—
Gross.
1906-07
$15,696,764
1905-06
14,203,918
— V . 85, p . 601, 99.

N et.
$4,604,455
4,287,862

Otli. In c .
Interest.
$137,975
$4,541,203
1,189,092 . 5 ,268,824

B a l.,S u r .
$201,227
208,130

Minneapolis & St. Louis R R .— Report.— For year ending
June 30 (average miles operated in 1906-07 being 867,
against 799 in 1905-06):
Year—
Gross.
N et.
Other In c . Charges. 5 % P J.D iv . B a h .S u r
1 9 0 6 - 0 7 ...$ 3 ,8 7 3 ,6 6 8 $1,316,536 $292,943 $1,2 95 ,0 44 $200,000 $114,434
1 9 0 5 - 0 6 ... 3,726,665
1.417,468 259,732
1,261,170
200,000
216,030
— V . 83, p . 1091, 1113.

Minneapolis St. Paul & Sault Ste. Marie R y .— Report.—
The results for the year ending June 30 were-:
Y ear—
Gross.
Net. Oth. In c . Charges.
B a l.,s u r p .
1906-0________ 7
$12,892,079 $5,458,530
$52,076 $2,901,921 $2,608,685
1905-06________ 11,574,462 5,789,902
62,965
2,585,181
3 ,267,686
1904-05_______
8,716,622
4.214,015
66,336 2,216,935
2,063,416

Dividends at 4% on the common stock ($554,012) and
7% on the preferred ($484 ,687) call for $1,038,699 from above
surplus.
Option to Subscribe.— Shareholders of record Sept. 28 are
entitled to subscribe at par on the company’s warrants until
3 p. m . Oct. 31, at either the First National Bank, Minneap
olis, or the Bank of Montreal, in New York, Montreal or L on
don, for $1,400,000 new preferred and $2,800,000 new oommon stock, to the extent of 3 shares of new for each 15 shares
of old held, the subscription to include one share of preferred
and two shares of com m on.
S ubscrip tio n s are p a y a b le a t th e aforesaid in s titu tio n s , 2 0 % on sub scrip
t io n , 20 % on D ec. 2, 20 % on F e b . 3 1908, 20 % o n A p r il 1 1908 a n d 20 % on
J u n e 1 1908. The new certificates w ill be delivered a t th e c o m p a n y ’s office,
31 P in e Street, N ew Y o r k , on or soon a fte r J u n e 1 1908, or, if sub scriptions
are p a id in a d v a n c e , u p o n th e o p e n in g of th e tran sfer books n e x t A p r il.—
V . 85, p . 722.

National R R . of Mexico.— Notes Offered.— Speyer & Co..
24-26 Pine St., New York, are offering the unsold balance
of the $10,000,000 13^-year 5% secured gold notes, due
April 1 1909; principal and interest payable in U. S. gold
in New Y ork. Compare V. 85, p. 601, 722. A bout $7,000.000 of these notes have already been placed here and in
Europe, and Speyer & Co. are offering the balance at 97 and
interest, at which price they yield, if held to m aturity, about
734% per annum .
The to ta l issue is lim ite d to $10,000,000, su b je c t to re d e m p tio n a t p a r
a n d accrued Interest on a n y interest d a te u p o n g iv in g six ty day.s’ previous
n otice.
T he notes are secured b y co lla te ral de posited w ith the C en tral
T rust Co. o f N ew Y o r k as trustee , a n d are a direct o b lig a tio n of th e r a il
r o a d , w h ic h is p a y in g d iv id e n d s a t th e rate o f 2 % pe r a n n u m o n a b o u t
$28,000,000 first preferred stock o u ts ta n d in g .
I t w ill be rem em bered
t h a t the M exican G o v e rn m e n t In 1903, a cqu ired for a b o u t $10,000,000 g o ld ,
control o f th e N a tio n a l R a ilr o a d of M exico a n d n o w ow ns o v er 4 8 % o f the
$ 62,000,000 stock o u ts ta n d in g .— V . 85, p . 722, 601.

New Jersey & Pennsylvania R R . — Reorganization— Old
Bonds Retired— Xew Temporary Mortgage.— Reorganization
is now in progress. The company will retain the present
name, the New Jersey & Pennsylvania R R . Co. The
Rockaway Valley R R . Co. bonds, $125,000, due April 1
1906, have all been retired and mortgage canceled of record.
The New Jersey & Pennsylvania R R . Co. general mortgage
$1,000,000 bonds have also been retired and mortgage can
celed of record. A new temporary first mortgage for $200.000 has been made by the company, dated June 1 1907, due
June 1 1927; bonds $1,000 each; interest, Ju ne apd December,
5% . The capital stock has been increased to $300,000.
The receiver, Frederick V Pitney of Morristown, N. J ., is
still in possession.— V. 82, p. 752.
New York City R y .— Receivership for Lessee of Metropoli
t a n .—This company, which as lessee of the Metropolitan
Street R y ., operates practically all of "the surface street
railways of M anhattan and the Bronx for the Inter
borough-Metropolitan Co. (the last-named being the owner
of over 97% of the stock of the Metropolitan Securities Co.,
which in turn holds the entire share capital of the New York
City R y .) was on Tuesday placed b jr Judge Lacombe of the
United States Circuit Court in the hands of Adrian H . Joline
and Douglas Robinson as receivers in friendly proceedings
instituted by the Pennsylvania Steel Co. and the Degnon
Contracting Co., holders of claims for $36,831 and $11,173,
respectively, the company itself confessing its insolvency.
The receivership, it is understood, was precipitated by the
inability of the company to meet the quarterly install merit
of rental due the Metropolitan Street R y. Co. O ct. 15, being
l % % on its capital stock, which should have been declared
on Sept. 26. The dividends on the stock of the Third
Avenue R R . (leased to the Metropolitan Street R y .), it is

794

THE CHRONICLE.

commonly supposed, will also be suspended on the ground
th a t they are not being earned.
The leases provide th at in the event of default for one
year in the case of the Metropolitan Street R y ., and for six
months in the case of the Third Avenue R R ., the sharehold
ers m ay proceed to take 'over the property. Of the $52,000,000 stock of the Metropolitan Street R y ., about $42,740,000 is owned by the Interborough-Metropolitan Co.,
the remainder by the public. (See V. 85, p. 469.) Of the
$15,995,800 stock of the Third Avenue R R ., $7,880,000 has
been held by the New York C ity R y . and the Metropolitan
Securities Co., b u t in 1907 $5,970,000 was deposited as se
curity for the $15,000,000 collateral trust issue of the
Interborough-Metropolitan Co. (V. 84, p. 1248.)
Bankers representing a large interest in the m inority stock
of the Metropolitan Street R y . are preparing to take pro
tective measures, b u t it is understood they will await actual
default in the dividend paym ent before calling for deposits.
F. J. Lisman is expected to be Chairm an of the stockholders’
committee.
The application for a receivership says in substance:
Y o u r orators are In fo rm e d t h a t since en te rin g In to th e possession o f the
prem ises dem ised u n d e r said lease b y th e M e tro p o ita n S treet R a ilw a y C o .,
th e d e fe n d a n t has ex pe nd ed m ore th a n $ 2 0 ,0 0 0 ,0 0 0 in m a k in g ’ extensions.
Im p ro v e m e n ts a n d a d d itio n s , a n d o th e r c a p ita l ex pe nd itures to a n d u p o n
lines t h a t ex iste d. In c lu d in g Its leased lines a n d lines o f co ntro lle d c o m 
p an ie s; t h a t th e ex p e n d itu re s re quire d fo r t h a t purpose hav e exceeded th e
resources of the d e fe n d a n t; t h a t th e d e fe n d a n t has re ce ntly entered in to
c o ntra c ts fo r e le ctrification w hic h are n o w In course of perform ance; th a t
th e u ltim a te lia b ility o f th e d e fe n d a n t u n d e r such contra c ts is u p w a rd of
54,000,000; t h a t th e d e fe n d a n t Is a n d w ill be u n a b le to m eet such lia b ility ;
t h a t several th o u s a n d a cc id e n t suits are a w a itin g t r ia l,a n d th e d e fe n d a n t
w ill be w ith o u t m ean s to m ee t ju d g m e n ts recovered in said suits.
Y o u r orators are In form e d b y th e officers of th e d e fe n d a n t t h a t the
d e fe n d a n t has o u ts ta n d in g flo a tin g In deb te dness fo r m a te ria ls , e q u ip m e n t,
tax es a n d supplies furn ished to th e a m o u n t of u p w a rd o f $ 2 , 0 0 0 ,0 0 0 ; t h a t
s a id flo a tin g in deb te dn ess is n o w o v erdue a n d th e holders there of are
pressing for p a y m e n t; t h a t th e d e fe n d a n t has n o w o u ts ta n d in g o b lig a tio n s
to th e a m o u n t o f several m illio n d o lla rs th e p a y m e n t fo r w h ic h is secured
b y o b lig a tio n s o f v a rious c om pa nies c o n tro lle d b y th e d e fe n d a n t or o w n in g
leased lines em b race d in th e d e fe n d a n t’s system ; t h a t said ob lig atio n s are
p a y a b le u p o n d e m a n d a n d t h a t th e d e fe n d a n t is w ith o u t m ean s to p a y
such ob lig atio ns ; t h a t th e gross in com e o f th e system decreased d u rin g the
la st fiscal year a b o u t $600,000, w h ile th e expenses o f o p e ra tio n a n d m a in 
te n a n c e Increased bjr a b o u t th e sam e a m o u n t, a n aggregate difference of
a b o u t $ 1 , 2 0 0 ,0 0 0 ; t h a t th e c laim s for special franchise taxes w hic h are now
In litig a tio n a m o u n t to over $3,0 00 ,0 00 , a n d th e C o m p tro lle r o f th e C it y
o f N e w Y o r k Is pressing for th e p a y m e n t of these tax es, a n d t h a t th e
d e fe n d a n t has n o t su fficie n t c re d it to o b ta in th e fu n d s re quire d fo r the
o p e ra tio n of its p r o p e rty .

On behalf of the Interborough-Metropolitan Co., August
Belmont, Chairman of the Board of Directors, made this
statement Tuesday night:
T he receivership o f th e N e w Y o r k C ity R y . In no w a y affects th e solvency
o f th e In te rb o ro u g h - M e tro p o lita n or o f the In te rb o r o u g h R a p id T ran sit
C o ., a n d it c a n n o t be too p o sitiv e ly state d t h a t a receivership o f either of
those tw o com pa nies has a t no tim e been even considered. T he In te rb o r
oug h- M etropo lita n C o. has no d e b t except its Issue of 4 H % colla te ral tru st
b o n d s secured b y In te rb o r o u g h R a p id T ra n s it stock a n a a b o u t $8,000,000
o f c o lla te ra l notes representing adv ances m a d e to th e surface system u n d e r
th e agree m ents entered in to la st M a y , w h ic h th e n c o n te m p la te d a n a d v a n c e
a g g re g a tin g $ 1 5 .0*0 .0 00 . T he In te rb o ro u g h - M e tro p o lita n C o. has over
$ 6 ,0 0 0 ,0 0 0 cash In th e b a n k .
The a c tu a l results o f the o p e ra tio n o f th e surface lines In the last year
a n d a h a lf have d is a p p o in te d a ll ex p e ctatio ns , w ith th e re sult t h a t there
has been such a large de clin e In the earnings o f th e N ew Y o r k C lt y R y . t h a t
th e re is no im m e d ia te prospect o f Its b e in g a b le to earn its fixed charges
o r to procure th e very c o ns lde ia ble sum s of m o n e y w h ic h w ill be required
fo r th e im p ro v e m e n t o f Its lines. A c c o r d in g ly , th e b o a ra o f alrectors of
th e In te rb o ro u g h - M e tro p o lita n C o. has de te rm in ed t h a t It Is n o t wise for
th e In te rb o ro u g h - M e tro p o lta n C o. to m a k e fu rth e r a dv a nc es to th e surface
syste m .
I n the Interest o f th e p u b lic , as well as of every one Interested in the
securities of th e various com panies. It is cleear t h a t a com prehensive re
a d ju s tm e n t sh o u ld be effected p r o m p tly , In ord er t h a t th e essential Im 
pro v e m e n ts m a y be m a d e as q u ic k ly as possible. T he receivership Is a
lo n g step in th is d ir e c tio n .— V . 85, p . 100.

New York & L on g Islan d R R .— Trial T rip.— This com
pany, controlled by the Interborough R apid Transit Co.,
and through it by the Interborough-Metropolitan Co., ran
an electric car laden with invited guests through the north
tube under the East River a t 42d St. on Sept. 2^ from the
Lexington Ave. Station, M anhattan, to the open terminal
at Van Alst Ave. and 4th S t., Long Island City, close to the
tracks of the Long Island R R ., and back, the trip one way
taking about 4 m inutes. The south tube is not quite com
pleted, and tw*r m onths will probably empse,.jbefore the tu n 
nel is reptfy for traffic. The question as to the legality of
the company's franchise is still before the courts? Mr. Bel
m o n t’s statement as to the care taken to ensure the'legality
the franchise was given in the “ New Y ork Time's” of
Sept. 25.— V. 85, p. 346.
New York New H aven & Hartford R R .— New Stock, &c.\
The shareholders will vote Oct. 30 on increasing the capital
stock by $35,469,500; also on accepting the Acts of the
Rhode Island Legislature relating to the company, and fur
ther upon accepting the “ am endments of the charter of this
corporation, being resolution am ending the charter of the
Consolidated Railw ay Co., and resolution am ending the
charter of the Torrington & Winchester Street R y . Co., both
passed by the General Assembly of Connecticut at its Jan u 
ary session 1907.** I t is also proposed to reduce the number
of directors from 25 to 22.
Option to Subscribe.— Shareholders of record Dec. 2 1907
will be permitted to subscribe a t $125 a share (par $100) for
$29,270,400 new stock, to the extent of one share for each
four shares of their respective holdings. Subscriptions are
payable, 25% each six m onths, beginning Ja n . 1 1908, or
optionally in full on any of the regular dates of payment,
the new certificates to be issued when full paid. Interest at
5 % per annum will be allowed on partial payments. Presi
dent Mellen says:
T he t o ta l n u m b e r o f shares o f sto ck n o w a u th o riz e d Is 1,218,781 shares,
o f w h ic h there are In the trea sury 247,964 shares, le a v in g In th e ha n d s of the
p u b lic 970,817 shares. A d d e d to th is , th e 200,000 shares to p ro v id e fo r
th e conversion o f de b e n tu re s, there is a to ta l w hlcb m a y p a rtic ip a te la th e




[V o l .

lxxxv

.

n ew stock issue of 1,170,817 shares. T h e s u b sc rip tio n w ill be o n th e basis
of one share of new stock fo r every fo u r shares of th e old stock , re su ltin g In
th e issue to th e p u b lic of 292,704 shares. These, a t $125 a share, w ill y ie ld
$36,588,000 in cash.
E v e ry d e b e nture ho ld e r of $150 p a r v a lu e w ill be
re garde d as a sha re holde r, w hethe r he has p a id In fu ll or n o t.
T his m o n e y w ill finance the needs of th e N e w H a v e n roa d for several years
to c om e. T he o n ly tra n s a c tio n w h ic h is in co m p le te concerns th e B oston &
M a in e , w h ic h Is before the M assachusetts L e g isla tu re .— V . 85, p . 723, 654.

New York & Portchester R y .— Injunction to Prevent Change
of Route.— Justice D ayton in the Supreme Court in this city,
on Aug. 18, in the action brought by Robert E . Robinson of
this city, continued the injunction previously granted re
straining the Board of Estimate, pending the trial of the
suit, from approving the proposed change of route in the
Borough of the Bronx which was voted by the directors
in April last, b u t has not been passed by the Board of E sti
m ate. Compare V. 84, p. 1183.
T he su it was b r o u g h t to p re v e n t th e N e w Y o r k & P ortchester fro m
r u n n in g over th e trac k s or ro u te o f th e N ew Y o r k W estchester & B oston.
T he sam e partie s c o n tro l b o th co m p a nie s , as a n n o u n c e d last year.
MrR o b ln s o n , as a m in o r ity sto ck h o ld e r in the N ew Y o rk W estchester & B os
t o n , does n o t a p p ro v e of th e use o f the located line a n d ro a d b e d of the
W estchester c o m p a n y .— V . 84, p . 1183.

Pennsylvania R R .— Listing.— The New York Stock E x 
change has authorized the listing from time to time on and
after Oct. 1 1907, b u t prior to Ju ly 1 1908, of $2,289,000
additional capital stock, on notification that it has been is
sued in exchange for stock of the Bald Eagle Valley R R . Co.,
m aking total am ount authorized to be listed $314,401,900.
E a r n in g s for Y e ar F ind ing J u n e 30 1907
Gross e a rn in g s _____ ____$157,554,6111
D educt—
N e t e a rn in g s_______ . .
4 6 ,8 6 9 ,1 9 1 1F ix e d re nta ls of leased
R e n ta ls p a id , o n bahts o f
I roads ___________ ______ $5,142,685
n e t e a rn in g s__________
6,866.922 j In te re st, tax e s, &c -- - 11,663,784
N e t o p e ra tin g earnings
i N e t i n c o m e . . . .......... .-53 4,72 5,9 15
P e n n s y lv a n ia R R $40,002,269!
D e d u ct—
O th e r I n c o m e ..____ ___
1 1 ,5 3 0 ,1 1 5 | S lnk ln g fu n d p a y m e n t s ..
358,176
----------- |P rin . o f car tru sts. . _____
4 246,039
Gross In co m e ____________ $51,532,384 I E x tr a o r d in a r y ex p. fu n d
2,500.000
i D iv id e n d s ( 7 % ) . ............ .. 21,609,775
B a la n c e , su rp lu s , a p p ro p ria te d for e x tra o rd in a ry e x pe nd itures $6,011,925

The gross earnings as above compare with $141,752,621
for the year ending June 30 1906 and the net earnings, $46,869,191, with $44,808,238 in the preceding year.— V. 85,
p. 655.
Pere Marquette R R .— Called Bonds.— Marquette equip
m ent bonds for $59,000 are payable Oct. 1 at par (ex-interest
due that day), at office of the trustees, 50 State St., Boston.
— V. 85, p. 655.
Philippine R ailw ay .— Bond Offering.— Further Facts
The first mortgage 30-year 4% sinking fund gold bonds
offered by W illiam Salomon & Co., New Y ork, by adver
tisement in last week’s “ Chronicle” , are part of an authorized
issue of $15,000,000, dated Ju ly 1 1907 and due'July 1 1937 ,
b u t subject to redemption at 110 and interest on any interest
date, Bankers Trust Co., New Y ork, trustee. The Govern
m ent of the Philippine Islands guarantees the full and prompt
payment of the interest on these first mortgage bonds until
their m aturity or redemption, in the form below shown
Abstract of Letter from President Charles M . S w ift, 43-49 Exchange Place,
New York, September 9 1907.
Concession.— The concession o f the C o m p a n y covers th e c o n s tru c tio n of
lines o f ra ilro a d as follow s: Is la n d o f P a n a y , 100 m iles; Is la n d o f N egros,
100 m iles; Is la n d of C eb u, 95 m iles. The c o n s tru ctio n o f 35 of th e 95
m iles on C ebu Is o p tio n a l a n d th e c o m p a n y has th e rig h t to c o n s tru ct a n
a d d itio n a l 25 m iles of m a in lin e o n each Is la n d .
The c o m p a n y has a
p e rp e tu a l franchise a n d concession gra n te d on J u ly 13 1906 b y the P h ilip 
p in e G o v e rn m e n t, u n d e r a u th o r ity of th e A c ts of the U n ite d S tates C o n 
gress, d a te d J u ly 1 1902 a n d F eb . 6 1905. The privileges gra n te d In clu de
rig h t o f w a y 100 feet in w id th th ro u g h p u b lic la n d s , the rig h t of e m in e n t
d o m a in , th e rig h t to ta k e tim b e r , e a rth , & c., fro m certain p u b lic la n d s ,
th e rig h t to operate electrical tran sm issio n wires for com m ercia l as w ell
as c o m p a n y uses, a n d th e rig h t to Im p o r t, free of d u t y , the m a te rials
necessary for the c o n s tru ctio n of the ra ilro a d .
I n a d d it io n , th e concession
pro v id e s for th e g u a ra n ty of b o n d Inte rest, described below , a n d fixes
th e c o m p a n y ’s t a x rate a t ^ o f 1 % of gross earnings fo r a pe riod o f 30
years (d u rin g the life of the bo nd s) a n d 1 )4 % for 50 years there after,
these p a y m e n ts being in lieu o f a ll o th e r taxes. The proposal for bid s
a n d th e a w ard o f the concession were effected u n d e r th e d lie c tlo n of the
W a r D e p a rtm e n t, th e Secretary o f W a r h a v in g sup erv ision of a ll d e ta ils
c o nc ern in g the re lation s w ith th e P h ilip p in e G o v e rn m e n t.
Location a n d C o nstruction .— F in a l surveys hav e been c om pleted o n th e
lin e on P a n a y , e x te n d in g th ro u g h th e m ost densely p o p u la te d p a rt of th e
Islan d fro m th e p o rt o f Ilo ilo , th e th ir d largest c ity in t h e P h ilip p in e A r c h i
pelago a n d th e c a p ita l of the prov in c e of Ilo ilo , to th e p o rt of C a p lz, th e
c a p ita l o f th e pro v in c e of C a p lz, a n d the p o r t o f B a ta n .
A n ex tension
to C a liv o is u n d e r c o n s id e ratio n . T he c o m p a n y has acqu ired a t Ilo ilo
a n ex cellent deep w a ter fronta ge.
O n Negros the line has been d e fin ite ly
lo c ate d fro m S a ia v la th ro u g h S ila y to C a b a n c a la n , t a p p in g th e large
sug ar d istric ts a lo n g th e coast. A p r e lim in a ry lo c a tio n has also been
m a d e fro m S a ra v la to E sc ala n te
O th e r routes are u n d e r c o n s id e ra tio n ,
one of w h ic h exten ds th ro u g h th e rich Ilo g riv er v a lle v to a v a lu a b le t im b t f
c o u n tr y In the so u th .
The line on Cebu has been located from the p o rt of
C ebu to D a n a o o n th e n o rth a n d A rg a o on the S o u t h ,a n d from C a r c a r t o D u
m a n ju g (J u lu g a o ).
C eb u, one of th e largest cities In th e arc h ip e la g o , was
settled by E u ro p e a n s In 1565. C o n stru c tio n w ork has been un d e r w ay
fo r n e a rly a year o n the isla nd s of P a n a y a n d C eb u, a n d th e ro a d betw een
th e C ity of C ebu a n d D a n a o , Is c o m p le te d . A d d itio n a l m ileage, e x te n d 
in g fro m th e C ity of C ebu to C arcar, a n d from th e C ity of Ilo ilo to P o to ta n
o n Ilo ilo , Is n ea rin g c o m p le tio n . T he c o n tra c to rs’ specifications call for
60-lb. rails, 3 H - fo o t ga uge , A u s tra lia n or n a tiv e h a rd w o o d ties, a n d gravel
b a lla s t.
B ridges are of steel a n d reinforced c oncrete, culv erts of rein
forced concrete, a n d a ll shops, roundhouses a n d th e larger statio n s of
reinforced concrete a n d g a lv a n iz e d Iron .
The c o n s tru c tio n c o n tra c t has
bedn ta k e n by J . G . W h ite & C o ., I n c ., of N ew Y o r k C ity .
The P h ilip p in e G o v e rn m e n t reserves th e rig h t to inspect th e c o m p a n y ’ s
books a n d is represented by tw o directors a n d a sup erv isin g engineer.
Territory a n d E stim ated T ra ffic .— The d e n s ity o f p o p u la tio n In th e P h i l
ip p in e Is la n d s in 1903 averaged 67 per square m ile , a b o u t the sam e as th e
S ta te o f I n d ia n a .
T he three island s of P a n a y . N egros a n d C ebu hav e a
p o p u la tio n per square m ile o f 161, 94 a n d 336 re spectively, the a v e r a g e
being 160, a b o u t e q u a l to th e d e n s ity o f p o p u la tio n of B ritish I n d ia .
T he
p o p u la tio n tr ib u t a r y to th e ra ilw a y lines has been es tim a te d a t a b o u t
5,000 per m ile of road In C ebu a n d 4,000 In P a n a y .
T he p r in c ip a l a g ri
c u ltu ra l p ro d u c ts of th e P h ilip p in e s are h e m p , sug ar, to b a cc o , c opra a n d
rice, a n d , to a sm a lle r e x te n t, c o tto n a n d c acao , In a d d itio n to vegetables
o f great q u a n tit y a n d v a rie ty . T im b e r is located n ea rly everyw here a n d
a large percentage has good c om m ercia l v a lu e , in c lu d in g very v a lu a b le
h a rd w o o d s.
M in erals, b o th m e ta llic a n d n on - m e talllc, are fo u n d in
c o m m e rcia l q u a n titie s .
P ra c tic a lly a ll o f th e p ro d u c ts o f the P h ilip p in e s
are represented o n th e island s In w h ic h the c o m p a n y Is c o n s tru c tin g lines.
Negros leads th e arc hipela go in th e p ro d u c tio n of sug ar, a n d C ebu in
cacao, w hile based on area, P a n a y a n d Negros lead In rice a n d C ebu In
to ba cc o . There are large trac ts o f lu m b e r In P a n a y a n d Negros a n d coal
has been fo u n d In C eb u. These Islan ds h ith e rto have been e n tire ly w ith 
o u t ra ilro a d service.

S e p t . U8 1907. j.

THE CHRONICLE

A cons e rv a tiv e es tim a te m a d e b y W illia m B . P o la n d , V ice-President
a n d C hief E n g in e e r o f th e c o m p a n y , in dicate s t h a t th e ra ilw a y lines now
co m p le te d a n d u n d e r c o n s tru ctio n w ill fu lly earn th e interest o n th e ir
b o n d s even d u r in g th e first years of o p e ra tio n , a b o u t 7 5 % o f th e revenue
b e in g expected fro m passenger tra ffic .
T he in h a b ita n ts tra v e l for
pleasure as w e ll as business, as show n on th e isla n d o f L u z o n , w here the
M a n ila & D a g u p a n R a ilw a y for th e 5 J^ years e n d in g J u ly 1906, averaged
a n n u a l gross earnings of a b o u t $5,500 pe r m ile , w ith a n o p e ra tin g ra tio
of a b o u t 4 3 % , th e passenger earn in gs in 1904 be in g d o u b le th e freight
ea rnings.
B onds a n d G u a r a n ty .— The c o m p a n y has a u th o riz e d a n Issue of $15,000,000 first m ortgage 30-year fin k in g fu n d 4 % b o n d s, p a y a b le In U n ite d
States gold coin on J u ly 1 1937.
A n n u a l s in k in g fu n d
% o f th e b o n d s
o u ts ta n d in g fi-om J u ly 1 1911 to J u ly 1 1921 a n d 1 % fro m J u ly 1 1921
to J u ly 1 1937, before a n y d iv iffe nd s can be p a id on stock.
Bonds m a y
be d ra w n by lo t for th is sin k in g fu n d a t 110 a n d interest if n o t purch ase d
a t or below t h a t p rice, a t w h ic h th e entire issue is also sub je c t to re d e m p 
t io n on a n y interest d a te , u p o n three m o n th ’s n o tic e . T he G o v e rn m e n t o f
th e P h ilip p in e Is la n d s guarantees th e fu ll 4 % a n n u a l interest on these
b o n d s u n t il th e ir m a tu r ity or re d e m p tio n . A n y p a y m e n ts m a d e b y the
G o v e rn m e n t u n d e r th is g u a r a n ty ra n k as a lien u p o n th e p r o p e r ty sub jec t
to th e lien of th e first m ortga ge bo n d s.
The concession prov id es t h a t
th e b o n d s m a y n o t be Issued for m ore th a n 95 % of th e cost of c o n s tru c tio n ,
as a p p ro v e d by the P h ilip p in e G o v e rn m e n t, u p o n c om pleted sections o f
n o t less th a n 20 m iles in le n g th .
I n d e te rm in in g th e Incom e a p p lic a b le
to In te rest, th e G o v e rn m e n t recognizes th e fo llo w in g ite m s In th e order
o f th e ir charge u p o n earnings: necessary o p e ra tin g a n d c o m p a n y ex 
penses, necessary o rd in a ry repairs of roa d a n d e q u ip m e n t; e x tra o rd in a ry
repairs a n d b e tte rm e n ts a p p ro v e d b y th e G o v e rn o r General; interest
charges u p o n bo nd s.
F o rm of G u aran ty Endorsed u v o n each B o n d .— P u r s u a n t “ to th e a u th o r ity
conferred b y S ection 4 of th e A c t of th e Congress o f th e U n ite d S tate s,
a p p ro v e d F e b . 6 1905, a n d in accordance w ith th e term s of th e conce slo n a ry c o n tra c t a n d g ra n t by a n d betw een th e G o v e rn m e n t o f th e P h ilip 
p in e Is la n d s a n d the P h ilip p in e R a ilw a y C o ., d a te d J u ly 13 1906, a p p ro v e d
b y th e Secretary of W a r o f th e U n ite d S tate s, the G o v e rn m e n t of th e
P h ilip p in e Is la n d s hereby guarantees th e d u e a n d p u n c tu a l p a y m e n t b y
th e P h ilip p in e R a ilw a y Co. of Interest u p o n th e w ith in b o n d , u n t il th e d a te
o f Its m a tu r ity or re d e m p tio n , a n d , in th e e v e nt of a n y d e fa u lt of the
P h ilip p in e R a ilw a y Co. in th e p a y m e n t there of, it w ill itself p a y the same
on d e m a n d .
I n w itness w hereof, th e G o v e rn m e n t of the P h ilip p in e
Is la n d s has caused these presents to be executed b y th e T reasurer thereof
as p ro v id e d in said A c t of Congress, as of the first d a y of J u ly 190 7.” (Signed
b y F ra n k A . B ra n a g a n , T reasurer of the P h ilip p in e A rc hipelag o .)
O rg a n izatio n .— The c o m p a n y was In corporate d M arch 5 1906, un d e r
th e laws o f C o n n e c tic u t a n d has a c a p ita l stock of $5,000,000. The directors
are: C h a ir m a n of th e B o a rd , W’ illia m S alo m on ; P re sid e n t, Charles M .
S w ift; V ice- P resident, Frederic H . R eed; V ice-President, C larence M c K .
Lew is; G en. C . R . E d w a rd s , G e n . T . H . H u b b a r d , M a jo r F ra n k M c In ty re ,
W m . B a rclay Parson s, A lo n z o P o tte r, C ornelius V a n d e rb ilt a n d J . G
W h ite .
G en. E d w a rd s a n d M a jo r M a c In ty r e represent th e G o v e rn m e n t
o f th e P h ilip p in e Is la n d .— V . 85, p . 723, 222.

Poughkeepsie City & W appinger Falls Electric R y .— New
Mortgage.— The company has filed a second mortgage to the
Poughkeepsie Trust Co. as trustee to secure an issue of $250,000 6% gold bonds of $1,000 each, dated July 1 1907 and
due Ju ly 1 1937, b u t subject to call for payment on any
interest date after two years at par. None of these bonds
are outstanding as yet.— Compare V. 84, p. 1552.
Public Service Corporation, New Jersey.— Second Dividend.
— The directors on Sept. 24 declared a second dividend of
1% on the $12,500,000 capital stock, payable Sept. 30 to
holders of record Sept. 24. Dividend No. 1, also 1% , was
paid on June 29 1907 in connection w ith the declaration of
a special dividend by the United Electric Co. of New Jersey.
(V. 85, p. 44.)— V. 85, p. 470, 406.
R utland R R .— Circular to M inority Shareholders.— C um 
mings & Co., New York, are asking the m inority shareholders
to unite for m utual protection and to sign proxies in the name
of T. C. Delavan and Charles Gregory, with a view to obtain
ing representation on the board at the annual meeting
Oct. 15.— V. 84, p. 623.
San Pedro Los Angeles & Salt Lake R y .— Sale of Bonds.—
This company, of which W . A . Clark is President, and in
which the Union Pacific is largely interested (its subsidiary,
the Oregon Short Line, having acquired a half interest in
1903, the total am ount paid on the “ investm ent” to June 30
1906 being $17,300,000), has an authorized issue of $50,000,000 4% bonds, of which, we learn the $40,000,000
heretofore issued b u t held in the treasury were “ sold’ in
July last and are now outstanding.— V. 84, p. 1308.
Toledo (O.) Railways & L ig ht Co.— Listed.— The New York
Stock Exchange has listed $1,875,000 capital stock, carrying
dividends from May 1 1907, which was issued in payment for
the property of Toledo Gas, Electric & Heating Co., viz.;
C o m p le te gas p la n t; a b o u t 114 m iles of gas m ains; 83 m iles of gas m a in s
leased fro m the c ity ; 105 m iles o f service pipes; 58 m iles of service pipes
leased from the c ity ; 3 electric a n d h e a tin g statio n s , together w ith th e real
estate o n w h ic h th e y are located; u n d e rg ro u n d c o n d u its a n d overhead
electrical syste m , meters a n d lam ps; 22 m iles o f h o t w a te r m a in s.
Results of Operations Jor H a lf- Y e a r ending J u n e 30 1907.
Gross.
Net.
Charges. D iv .( l % ) B a l.S u r .
$335,1851
R a il w a y ----------- $782,372
L ig h t a n d p o w e r --305,698
129,647!
G a s ............ ............. ..
113,971
47,153 > $380,142 $120,000 $16,885
H e a t _________________
43,278
def. 718
O th e r In c o m e _______
_______
5.760J

795

F o r th e y ear e n d in g J u n e 30 1907 th e gross earnings of th e W r ig h ts v ille &
T e n n ille R R . on its ow n 76 m ile s of roa d were $220,893 (against $199,521
In 1905-06); n e t over tax e s, $45,493; t o t a l n e t in co m e , $50,865; d iv id e n d s ,
1 0 % , $30,000; ba la n c e . su rp lu s , $20,865.
P res., A . F . D ale y ; See., D . R .
T hom as; T reas., A . L . S pice r. O ffice, T e n n ille , G a .— V . 85, p . 1285.

IN D U S T R IA L , GAS A N D M IS C E L LA N E O U S.
Allis-Chalmers Co.— Meeting Adjourned.— The adjourned
annual meeting set for the 26th inst. was adjourned again,
for lack of a quorum , to the fourth Thursday in October.
The annual report will be ready shortly.— V. 85, p. 655, 470.
American Gas & Electric Co., New York..— Bonds of Con
trolled Company.— See Scranton Electric Co. below.— V. 85,
p. 223.
American Ice Securities Co.— No Dividend at Present.—
The directors on Thursday decided to declare no dividend
payable in October on the $19,037,100 capital stock. From
January to July 1907, both inclusive, quarterly distributions
°f 1M % were made. President Wesley M. Oler is quoted:
L a st N o v e m b e r the A m e ric a n Ice C o. p a id a d iv id e n d of 9 % on its stock
(V . 83, p . 1038, 1100), a nd fro m the proceeds the Securities C o m p a n y has
p a id three q u a rte rly d iv id e n d s o f 1 % % .
N o w , how ever, th e fin a n c ia l
s itu a tio n is such t h a t th e Securities C o m p a n y directors h a v e deem ed It
p r u d e n t to ta k e no a c tio n o n th e d iv id e n d q u e stio n , b u t to reserve its fu n d s
fo r th e p a y m e n t o f interest o n its d e b e n tu re b o n d s , w h ic h a m o u n t to $ 2 ,897,-580, be aring 6 % interest.
A n o th e r reason fo r th e in a c tio n w as th e fa c t t h a t th e A m e r ic a n Ic e C o.
has p a id no d iv id e n d s th is year a n d u n t il th e season Is ov er w ill n o t be able
to de te rm in e ju s t how It shou ld a c t re g ard in g such p a y m e n ts . A fte r
N o v e m b e r, w h ic h was th e d a te o f la st y ea r’s d is tr ib u tio n , th e s itu a tio n w ill
be clearer, b u t in th e m e a n tim e th e Securities C o m p a n y has a d o p te d a
p o lic y o f c onserv a tism .— V . 85, p . 602.

American Investm ent Securities Co., Boston.— Correction.
— From the balance sheet of July 16 1907 as printed in the
“ Chronicle” of Sept. 7 there was om itted an item of notes
payable of $212,000, w ithout which the total of $3,656,217
would be incorrect. W . H arm an Brown Jr. has succeeded
Thomas C. Chapin as Secretary. Office, 176 Federal S t.,
Boston.— V. 85, p. 597.
American Smelting & Refining Co.— Curtailment of Output.
— The “ New York S un” of Sept. 20 said:
The A m e ric a n S m e ltin g & R e fin in g C o .. w h ic h sm elts a b o u t 85 % o f th e
lead b u llio n o u t p u t of th e c o u n tr y , a n d in a d d itio n has v a lu a b le silver-lead
m ines of Its ow n In the Coeur d 'A le n e d is tric t in I d a h o , has served n o tic e
on the In d e p e n d e n t producers o f lead in t h a t d istric t to c u t d o w n th e ir o u t 
p u t 5 0 % .— V . 85, p . 606, 596.

A rlington (Mass.) Gas L ig h t Co.— Bond Issue.— A new
first mortgage has been filed to the American Trust Co. of
Boston, as trustee, to secure an issue of $500,000 5% gold
bonds dated April 1 1907 and due April 1 1927, w ithout op
tion of earlier redemption.
O f th e a u th o riz e d a m o u n t, $100,000 Is to be issued im m e d ia t e ly .
D e
n o m in a tio n $1,000.
In te re st p a y a b le O c t. 1 and A p r il 1 a t office o f trustee .
There are $30,000 o ld 1st 5s o u ts ta n d in g w h ic h are to be re p la c e d b y
$30,000 of th e new issue. C a p ita l stock $100,000, a l l c o m m o n ; p a r $100 .
P re sid e n t, A lfre d C larke; S ecretary , George F . H o w la n d ; T reasurer, A . M .
W h itn e y .

Baltimore Compositype Co.— Successor Com pany.— Thsi
company was incorporated some time ago under the laws of
Delaware, pursuant to the reorganization plan of the National
Compositype Co. (see that com pany below), and elected the
following officers:
P re sid e n t, H . R . C la pp; V ice-P resident, George W . W a lth e r ; S e c re ta ry ,
Jam e s G ille spie, a n d T reasurer, L o u is F . Y o u n g .
D irectors: H . R . C la p p ,
George W . W a lth e r , L o u is K. Y o u n g , E d w in G . B a e tje r J r . , D o u g la s H .
R a lp h C . L u p to n , W ilm in g to n , D e l.; George O . W ille t t a n d T . I . T ra v e lll
G u d o n , A u b re y Pearrc .Jr., a n d G . Nelson T h o m s o n , a ll o f B a ltim o r e
of B oston.

Bell Telephone Co. of Philadelphia.— Consolidation.— A r
rangements have been completed to consolidate the Bell
Telephone Co. of Philadelphia, the Pennsylvania Telephone
Co. and the Chesapeake & Potomac Telephone Co., all con
trolled by the American Telephone & Telegraph Co. and to 
gether operating over 300,000 telephones, into a single cor
poration with $60,000,000 of authorized capital stock. The
shareholders of the Bell Telephone Co. of Philadelphia and
of the Pennsylvania Company, both paying dividends at the
rate of 6 % per annum , will receive an equal am ount of new
stock for old stock surrendered. The shareholders of the
Chesapeake & Potomac Company will receive two shares of
new stock for each three shares of old stock surrendered.
The Philadelphia “ News Bureau” of Sept. 22 said:

T o ta l....................... .$1,2 4 5 ,3 1 9
$517,027 $380,142
$120,000 $16,885
The charges as a bove In clu de: B o n d lnte rect , $306,370 (In c lu d in g $59,050
fo r accrued Interest on bo nd s of form er T oledo G as. E lectric & H e a tin g Co.
a n d Its predecessor c om panies); Interest on flo a tin g d e b t. $30,894; tax es,
$ 42,878.
O n J u n e 30 1907 there were o u ts ta n d in g , besides $13,875,000
stock a n d $13,366,000 b o n d s , notes p a y a b le to a to ta l of $1,488,390. There
were also in th e trea sury $776,000 b o n d s .— V . 84, p . 1553.

O f the $60,000,000 a u th o riz e d c a p ita l stock of th e n e w c o m p a n y , it Is
offic ially figured t h a t a p p ro x im a te ly $42,000,000 w ill be Issued a t once in
exchange for the stocks of th e m e rg in g c om pa nies, to p a y off $ 8 ,0 0 0 ,0 0 0
flo a tin g d e b t o f the C hesapeake & P o to m a c C o ., &c. T his w ill le a v e
$18,000,000 stock in th e tre a s u r y ,w h ic h w ill pi-obably be used In th e n e x t
three years for im p ro v e m e n ts a n d extensions. T he $8,000,000 flo a tin g
d e b t of the C hesapeake & P o to m a c Co. represents ad v a n c e s m a d e b y th e
A m e rica n T elephone & T elegraph C o. (for e x pe nd itures on the p ro p e rty
— E d . “ C hro nic le” ) .
To p a y the 6 % d iv id e n d on $42,000,000 Issued
c a p ita l stock of the new C o n so lid a te d C o m p a n y , w hic h ra te it is proposed
to m a in t a in , w ill require $2,5 20 ,0 00 , a n d a llo w in g fo r th e c onversion of th e
flo a tin g d e b t of th e C hesapeake & P o to m a c C o ., th e m e rg in g c om pa nies
are a t present unde rstood to be on an e a rn in g basis close to $3,000,000 pe r
a n n u m .— V . 84, p . 1484.

Toledo St. Louis & Western R R .— Purchase Approved.—
See Chicago & Alton R R . above.— V. 85, p. 532, 470.
W rightsville & Tennille R R .— Mortgage.—The D ublin &
Southwestern R R ., 31 miles in length, previously wholly
controlled, having recently been acquired in fee, the W rights
ville & Tennille R R . has increased its capital stock from $300,000 to $600,000 (all outstanding, $70,000 being non-cumulative preferred) and has filed a first mortgage covering the
consolidated property to secure an issue of $250,000 5%
gold bonds, to provide for improvements, &c. None of these
bonds is as yet outstanding.

(A.) Booth & Co., Chicago.— F inancial Report.— See
“ Annual Reports” on a preceding page.
New Stock— Option to Subscribe.— The shareholders will
vote Oct. 10 on issuing $1,000,000 additional 8% cumulative
preferred stock, for which all shareholders will be permitted
to subscribe at par and accrued dividends at any tim e prior
to Oct. 15, to the extent of 2-11 of their respective holdings,
and for additional amounts contingent upon any share
holders waiving their rights. Transfer books will be closed
from Oct. 15 to Oct. 21. A circular dated Sept. 10 1907
says in substance:

T he m ortga ge trustee Is th e C itiz e n s ’ & S o u th e rn B a n k . S a v a n n a h , a n d
th e b a n d s are d a te d O c t. 1 1907 a n d d u e O c t. 1 1957, b u t s u b je c t to c a ll
foi p a y m e n t In a n y a m o u n t a fte r live years or a n y Interest d a te a t 102 '4
a n d interest.
In te rest p a y a b le J u ly 1 a n d J a n . 1 a t T e n n ille , G a .
D e n o m i
n a tio n , $1,000.
S in k in g fu n d , $5,000 y e a ily .
There are n o u n d e rly in g
lie n s or oar trusts a n d o n ly $ 2 0 ,0 0 0 loan s a n d b ills p a y a b le o u ts ta n d in g .

I n th e pa st few years th e business of th e c o m p a n y has grow n very r a p id ly
w ith th e re sult of a la rg e ly Increased earn in g c a p a c ity .
T o p ro p e rly ac
c o m m o d a te th is e n la rg e m e n t of th e business a n d to produce th e best re sults.
It Is de sirable to increase th e w o rk in g c a p it a l.
I t Is th e o p in io n o f th e d i
rectors t h a t th e a m o u n t derived fro m th is Issue of new preferred stock w i l l
p roduce earnings la rg e ly in excess of th e d iv id e n d s required on such stock .




796

THE CHRONICLE.

D u r in g th e p a st fiscal year y o u r c o m p a n y was a b le to earn a su m e q u a l to
22 % on th e th e n o u ts ta n d in g issue of preferred stock , w h ic h w as e q u a l to
th e f u l l d iv id e n d of 8 % on th e preferred stock a n d 14 % on th e o u ts ta n d in g
issue o f c o m m o n stock (see re port on a prev ious p a g e ). C e rta in of th e sto ck 
hold ers h a v e offered to ta k e a ll of th e a d d it io n a l stock issued w h ic h m a y
n o t be subscribed for, a n d s ta n d re ad y to de p o sit $400,000 cash as a g u a r
a n t y on th e ir offer.
S ub s crip tio n s w ill be p a y a b le 2 5 % O c t. 21 1907 a t $25 28 pe r share;
2 5 % N o v . 20 1907 a t $25 45 pe r share; 2 5 % D e c . 20 1907 a t $25 61 per
share' 25 % J a n . 20 1908 a t $25 78 pe r share; t o t a l $102 12. B u t p a y m e n t
in f u ll m a y be m a d e as fo llo w s: O c t. 21 1907, $101 12 per share; N o v . 20
1907, $76 35 per share; D ec. 20 1907, $51 22 per share, a n d J a n . 20 1908,
$25 78 per share; p r o v id e d in] each case a l l prev ious p a y m e n ts h a v e been
m a d e . T he se m i- annual d iv id e n d of $4 pe r share w ill be p a id on M a rc h 1
1908, w h ic h p a y m e n t w ill offset th e accru ed d iv id e n d p a id b y subscribers
on deferred sub sc ription p a y m e n ts .
In te re st a t 6 % per a n n u m w ill be
a llo w e d on a ll p a y m e n ts m a d e in a d v a n c e of d u e d a te .

[V o l .

lxxxv

.

T he G u a n a ju a to Pow er & E lec tric C o. has a d e m a n d for pow er in the to«i ito ry it serves la rg e ly in excess of its c a p a c ity . To s u p p ly th is pow er the
M ic h o a ca n P ow er C o. w as org an ized u n d e r th e law s o f C olo rad o , a n d it teas
a cq u ire d tw o concessions fr o m th e M e xican F e d e ra l G o v e rn m e n t to «se
for pow er purposes th e w aters o f th e A u g u lo R iv e r , in the S ta te of M ichoacan
k n o w n as th e B ru n e i C oncession, a n d th e N oriega Concession. T he w a ter
rig h ts gra n te d are a b o u t 34 m iles fro m th e p la n t of the G u a n a ju a to C o m p a n y
a n d o n ly 90 m iles fro m G u a n a ju a to , w h ic h is th e p r in c ip a l pow er m a rk e t.
T he entire c a p ita l stock a u th o riz e d a n d Issued, $1,0 00 ,0 00 , is ow ned by th e
G u a n a ju a to P ow er & E le c tric Co.
T he $2,000,000 first m o rtg a g e bo nd s o f th e M ic h o a ca n C o m p a n y are? is 
suable as follow s: (a) $800,000 fro m tim e to tim e for th e cost of the B n»nel
a n d N oriega concessions a n d for the cost of c o n s tru c tin g a t th e B r u n t ! Con
cession a hydro-electric p la n t w ith a c a p a c ity of 4,000 horse-power a n d
th e C33t of, b u ild in g a 90-mlle tran sm issio n lin e fro m th is p la n t to G u a n a 
ju a t o .
(b) $800,000 fro m tim e to tim e for th e cost of c o n s tru c tin g a t th e
N oriega Concession a hydro-electric p la n t w ith a c a p a c ity o f 8,000 horse
pow er a n d th e cost o f c o n s tru c tin g a tran sm ission lin e to c onn e ct the Horiega p la n t w ith th e B ru n e i p la n t , (c) $400,000 fro m tim e to tim e for « o t
to exceed 8 0 % of th e cash cost of p e rm a n e n t a d d itio n s a n d extensions,
Im p ro v e m e n ts a n d b e tte rm e n ts.
T he p la n t a t th e B ru n e i Concession w ill consist of a m a so n ry d a m , d i 
v e rtin g th e w a te r in to a n open c a n a l, fro m w h ic h It w ill pass to tw o pressure
pipes; these w ill c onvey It to th e M orris tu rb in e s , w h ic h w ill use lt a t a he ad
of 160 feet. T he tu rb in e s are each of 2,750 horse-power, a n d are each
d ire c tly conne cted to a 2,000 horse-power G e n eral E le c tric g e n e ra to r. T he
tran sm ission lin e , w h ic h w ill be 90 m iles In le n g th , w ill consist of steel towers
54 feet h ig h , s u p p o rtin g a three-wire, hard-draw n c opper c o n d u c to r a n d a
telep hon e c ircu it.
I t is expected t h a t th is p la n t w ill be c o m p le te d early in
1908.
T he p la n t a t th e N oriega Concession w ill be a lm o s t id e n tic a l w ith
th e B ru n e i p la n t In design a n d c o n s tru c tio n , except t h a t th e w a te r w ill
be u tiliz e d a t a head of 670 feet a n d th e c a p a c ity of th e ge ne ra tin g u n its
w ill be 8,000 horse-power. A steel tow er tran sm issio n lin e w ill conn e ct It
w ith th e B ru n e i p la n t.
E a r n in g s .— The pow er p la n ts o f the M ic h o a ca n C o m p a n y w ill be ocera te d as a u n it w ith th e p la n t o f th e G u a n a ju a to C o m p a n y , a n d It Is e s tim a te d
th e c o m b in e d earnings w ill be: Gross, $729,000; n e t, $529,000; c o m b in e d
interest charges, $186,000; su rp lu s a v a ila b le for d iv id e n d s , $343,000.
T he directors of th e G u a n a ju a to P ow er & E le c tric Co. are: H e n ry H tn e ,
P re siden t (C urtis & H ln e , C olorad o S prin gs, C o l.); J o h n H a y s H a m m o o d ,
V ice-President, N ew Y o r k C ity ; L e o n a rd E . C u rtis, C o lo rad o S p rin g s, C o l.;
Ir v in g W . B o n b rig h t (B o n b rig h t & C o., B a nk e rs, N ew Y o rk ); C. A . C offin
(P reside nt o f G e n eral E le c tric C o ., S ch e n e c ta d y , N . Y .) ; J o h n S. B a r tfe tt,
B o s to n , Mass.; H orace G . L u n t , C olorad o S prin gs, C ol.
G u a n a ju a to , w h ic h is a t present th e p r in c ip a l pow er m a rk e t, has a p o p u 
la tio n of a b o u t 45,000 a n d is th e oldest silver-m ining d istric t in M exico a n d
th e richest In th e w o rld .
M in in g has been carried on since 1557, a n d th e
p r o d u c tio n since t h a t d a te is e s tim a te d to hav e been in excess of one biM ion
d o lla rs . T he In tro d u c tio n o f electric pow er a n d th e a d a p ta tio n o f th e c y a 
n id e process to silver e x tra c tio n ha v e m a d e possible th e p ro fita b le tre a tm e n t
of the m a n y m illio n tons o f d u m p s a n d fillin gs w h ic h were of too lo w a grade
to hav e been successfully w orked w ith th e expensive m ethod s heretofore
e m p lo y e d .— V . 84. p . 394.

Proposed Change in Dividend Periods.— The directors also
contemplate, after March 1 1908, changing the time of divi
dend payments, and m aking quarterly instead of semi
annual payments on the preferred stock, and adopting a like
policy of quarterly dividends as to common stock.— V. 85,
p. 724.
^JChicago JunctionJRailw ays & Union Stock Yards Co.—
Change in Status of Controlled Properties.— See Chicago
Junction Railroad, also Chicago Junction Railway under
“ Railroads” above.— V. 85, p. 159.
Dayton (0.) Breweries Co.— No Dividend at Present.—
The company, it is announced, has decided to pay no divi
dend next m onth on the preferred shares, b u t instead will
keep its funds intact until the money m arket improves,
so th at the money m ay be in hand to meet the Aiken law
tax, due in December and June.—-V. 83, p. 1101.
du Pont International Powder Co.— Dividend Not De
clared.—See International Smokeless Powder & Chemical
Co. below.— V. 83, p. 1349.
Edison Electric Company of Los Augeles, Cal.— Bond Re
demption.— Attention is called to the offer of E . H . Rollins
& Sons (in our advertising columns) of 110 for certain of the
“ first and refunding” mortgage bonds which were sold to
investors within the past two or three years at par. These
bonds (numbered from 1 to 104) are now redeemed from the
Nassau L ig h t & Power Co., New Y ork.— Bonds.— The
sinking fund, in accordance with provisions of the issue. shareholders will meet Oct. 1 at No. 100 Broadway to vpte
Compare offering in V. 82, p. 932.— V. 85, p. 102, 603.
on m aking a mortgage to secure not exceeding $l,000.(k)0
Greene Gold-Silver Co.—-No Dividend.—-The directors 20-year 5% bonds dated Oct. 1 1907.— V. 78, p. 1170.
have decided not to declare the usual semi-annual dividend
National Compositype Co., Baltim ore.— Status— Reorgani
on the .8% cumulative preferred stock, which would have
zation P la n .— Vice-President Louis F. Young, Baltimore,
been payable this m onth. Compare V. 84, p. 573.
presented under date of Aug. 17, in accordance w ith the reso
T he earnings of th e c o m p a n y , it is sta te d , are required for de v e lo p m e n t
w o r k .it being im p o s s ib le ,o w in g to present m a rk e t c o n d itio n s , to sell stock
lution passed at the stockholders’ meeting held on Aug. 13,
th e re fo r.— V . 84, p . 573.
a report on the condition of the company, and a reorganisa
Guanajuato (Mexico) Power & Electric Co.— Guaranteed
tion plan which has been formally approved by the stock
Bonds.— See Michoacan Power Co. below.— V. 84, p. 628.
holders’ committee, consisting of John W . Snyder, Joseph H .
International Mercantile Marine Co.— New Treasurer.— Straus and Charles D. Fenhagen saying in substance :
Assistant Treasurer James F. Fahnestock has been elected
Condensed S u m m a ry of Assets a n d lia b ilitie s J u ly 1 1907.
Treasurer to succeed James S . Swartz, who resigned.
........................... - . . .
$ 1 ,3 9 1 1M aster m a t r ic e s . .________ __ $79,090
Rate W ar.— On Sept. 25 passenger rates were again re CR eaaslh .....
estate a n d b u ild in g s ,
|M achines be ing b u i l t _______
25,880
duced by a number of the leading lines, including the French
e q u ity over $20,000 >nort! M atrices s t o c k .. . ..................
56,917
_____
________________
_
19,4121
B
ills
a
n
d
a
cc
oun
ts
receiv’ble
15,647
gatte
company, the Cunard, the Hamburg-American, &c. The
P la n t , m a c h in e ry , t o o ls --55,387; P a tte rn s , fix tures, 4 c _______
10,165
following first-cabin rates are effective immediately eastT o ta l assets ......................... .......................................... ............................. $263,889
bound and on Nov. 1 westbound for two of the subsidiaries
L ia b ilitie s , bills and accounts p a y a b le ............................_ .......... .......
53,957
of.the International Mercantile Marine Co.:
A m e ric a n L in e — To C herbou rg a n d to a n d fro m S o u th a m p to n , $50 first,
$45 second; fro m C herbou rg, $55 first a n d $50 second.
W h ite S ta r L in e — To a n d fro m C herbou rg a n d to a n d from S o u th a m p to n ,
S te am e r O ceanic, $57 50 first a n d $47 50 second; A d r ia tic , to C herbou rg
a n d to a n d from S o u th a m p to n , $52 50 first find $45 second; from C he rb o u rg ,
$55; M ajestic a n d T e u to n ic , to C herbou rg a n d to a n d fro m S o u th a m p to n ,
$50 first a n d $45 second; from C herbou rg, $ 55 .— V . 85, p . 724, 656.

International Smokeless Powder & Chemical Co.— Divi
dend on Common Stock Not Declared.— The usual dividends
on the common stock of the International Smokeless Powder
& Chemical Co. and on the preferred stock of the du Pont
International Powder Co. were not declared at the recent
meeting of the directors, because, it is understood, the earn
ings were insufficient.— V. 84, p. 697.
(The) Michoacan Power Co .— Offering of Guaranteed Bonds.
— E. H . Rollins & Son«, Boston, <fcc., are offering at par and
interest -1500,000 first mortgage 6% gold bonds, the earlier,
m aturities of the present issue of $800,000. The total au
thorized issue is $2,000,000, issuable only as below stated,
dated July 1 1907 and due serially on Ju ly 1 from 1913 to
1937. The present issue of $800,000 will m ature, $40,000
yearly 1913 to 1917, $60,000 yearly 1918 to 1922, $100,000
yearly 1923 to 1925 inclusive. The entire, b u t not less than
the entire, issue is subject to call on July 1 1923, or any inter
est payment date thereafter, at 105 and interest. Interest
payable Jan. 1 and July I at City Trust Co., Boston, trustee.
Denominations, $100, $500 and $1,000 (c*).
G u aran ty of G u a n a ju a to Power & E lectric C o. (V .8 3 , p . 40).
T he G u a n a ju a to P ow er & E le c tric C o .. as th e la w fu l ow ner hereof, in
c o n s id e ratio n of th e purchase price, the receipt of w h ic h is hereby a ck n ow l
ed g e d , hereby guarantees to every h o ld e r hereof th e p a y m e n t of th e p rin ci
pu l a n d th e interest thereon as a n d w hen th e y are du e.

A circular states in substance:
T he G u a n a ju a to P ow er & E le c tric C o. ow ns a hydro-electric p la n t on the
D ue ro R iv e r, n-ar Z a m o ra , in the S ta te of M ic h o a ca n , R e p u b lic of M exico,
e q u ip p ? d for p ro d u c in g 8,000 horse-power of ele ctric al energy.
The w ater
Is o b ta in e d fro m the D uero R iv e r , u n d e r concession from th e M e xican F e d 
eral G o v e r n m e n t, a n d is d iv e rte d b y a m assive steel a n d concrete d a m in to
a c a n a l over 4 m i l s in le n g th , a n d thence th r o u g h riv e te d steel pressure
pl;>
to th e w a te r wheels a t a n effective head of 328 feet. T he electrical
i n rgy is tra n s m itte d a b o u t 100 m il s over a steel tow er tran sm issio n lin e
to G u a m ju a t o , Ir a p u a to , Leon a n d o ther im p o r t a n t m in in g , m a n u fa c tu r 
in g d iie s a n d •'igriculrural distric ts in C e n tral M exico.
T his c o m p a n y has
b :e n successfully d e liv e rin g pow er since N o v e m b e r 1903.
9 o r n in g s of G u a n a juato Power & Electric Co. for Y e ar E n d in g J u n e 30 1907,
_____ $327,777] In te re st on $1,500,000 6 %
fiross e a r n in g s ____
O pe r. e x p ., In cl. m a in t. a n d
1 b o n d s ___________________$90,000
renew al fu n d
$2,000
|S u rp lu s for Interest o u Michwonthly- __________. ___ J .
SS,946j
oacan b o n d s _______________ 153,831
e a rn in g s ............ ............... 243 831)




$209,932
W h o le a m o u n t o f cash c a p ita l c o n trib u te d to enterprise fro m b e g in 
n in g .... ....... ............. . . : __________ __________ _____ _______ _______
$209,700
In th e foregoing sta te m e n t no v alue has been placed on the c o m p a n y ’
p a te n ts , a lth o u g h a large po rtio n of the c a p ita l stock was Issued lo r p a te n ts;
w hile th e y are considered v a lu a b le , it is im possible to fix a n ex act cash
v a lu e .
The su rp lu s of assets over lia b ilitie s is $209,932, beln<r $232 in
excess o f th e t o ta l a m o u n t o f m o n e y c o n trib u te d to th e en terp rise. T he
m a chin e m a n u fac tu re d by th e c o m p a n y is s u b s ta n tia lly a c o m p le te in d i
v id u a l ty p e fo u n d ry ; in c asting ty p e a separate m a tr ix is required for each
le tte r or c haracter.
The c o m p a n y now has the m aster m atrices for a b o u t
600 styles of ty p e , each style or face h a v in g from 52 to 144 letters or c h a r a c 
ters.
A stock of each of these styles is. m ore ov er, carried by th e c o m p a n y
fo r sale or rent to th e users of the m a c h in e .
The usu al a nd p o p u la r faces
hav e now been c o m p le te d , a n d w hile new styles w ill have to be c o n tin u a lly
a d d e d , the In v e stm e n t for th is purpose w ill in the lu tu re be re lativ e ly m u c h
less th a n heretofore.
The ta c t1 ry Is well e q u ip p e d and r u n n ln 'r w ith a force
to produce four m achines a m o n th , w ith the necessary m atrices; the m a 
chine ry and p la n t Is s u ffic ie n t, w ith o u t a d d itio n or e n la rg e m e n t. for an
o u t p u t of <rom ten to tw elve m achines; o n ly a MTiall Inc rease in the pay roll
is required to Increase th e o u t p u t to six m a chin e* n n •m th
Since Ia n . 1 1907 there have been co m p le te d a n d shipped tw e n ty tw o
m achines; a n u m b e r of m a chine^ o f a form er m od el have been re-oullt;
order- fo r three m achines are in h a n d to be filled as soon as the m aefvnes
c an be c o m p le te d .
There are now in use ninety-six of th e c o m p a n y ’s
m a c h in e s.
I n J a n . 1907 a le tte r w as sent by a local b a n k in g house to e«ch
of th e users o f the m achin es a sk in g for an expression of o p in io n as tp It
m erits.
F ifty replies were received, o f w hic h a ll except tw o expressed
sa tisfa c tio n ; these users In clu de th e N e w Y o r k H e ra ld , P o st, W o rld a n d
J o u r n a l.
T he officers of th e c o m p a n y hav e been a d v a n c in g m oe ny to m eet the p a y 
rolls a n d c u rre n t needs.
The lia b ilitie s are over d u e , a n d m u s t be p a id a t
once.
To p ro v id e for the s itu a tio n , th e fo llo w in g p la n Is proposed:
R eorganization Plan.
A new c o m p a n y , th e B a ltim o re C o m p o sity p e C o ., w ill be org an ized w ith
a n a u th o riz e d c a p ita l stock of $1,000,000 In shares o f $20 each (the stock
of th e present c o m p a n y b e in g $ 3,0 00 ,0 00 , p a r o f shares $100). T he sh a re 
holders of the present c o m p a n y w ill be re quire d to p a y an assessment o f
$4 on each share of th e ir present h o ld in g s a n d w ill then receive in exchange
one share o f new stock (p a r v a lue $20) for each one share (p a r v a lu e f 100)
of o ld , a n d for the assessm ent w ill receive $4 (1 0 0 % ) in 6 % 3 y ear notes
a n d a bo n u s o f $8 (2 0 0 % ) in new stock.

Capitnlizilion of Xew Company.
A u th o rize d c a p ita l sto ck , 30,000 shares, p a r v a lu e $20 per share $ 1,0 30 .0 0*
Issued to old stock h olde rs. In exchange. ............
$*100,000
Issued as bo nu s o f 200 % w ith th e n o te s,
. . . . 2 0 0 .0 0 0
Reserved In th e tre a s u r y ......... ..
....
.. 200,000
N ew 6 % 3-year notes, w ith Interest p a y a b le M arch 1 and S ept. 1.
1 0 0 ,#0 #
T he re sult o f the p la n to present stockholders Is as follow s: 100 shares of
th e e x istin g stock , p a y $400 c i= h and receive 100 shares o f new stock (In
e x c h a n g e ), p a r v a lu e , $2,000; 40 shares of new stock (b o n u s w ith the n o te s ),
p a r valu**. $800; $400 of the 3 y ear 6 % n otes, $400.
I f a ll the stock h olde rs accept the p la n the assessment w ill pro v id e a iio u t
$120,000.
N o stock h olde r w ill be p e rm itte d to exchantre shares w ith o u t
p a y in g th e assessment.
The d e p o sita ry Is th e In te r n a tio n a l T rust <*«■.,
B a ltim o re , M d . [C om pare B a ltim o re C o m p o s ity p e Co- ab o v e Ed.1
F or o th e r In v e s tm e n t New s see pages 808 a n d 809

Sj*Ff\ 28 1907.J

THE CHRONICLE.
llc p m

'ls

< m cl

797

S o n t n t e t it s

IL L IN O IS CENTRAL R A IL R O A D COM PAN Y.
F IFT Y -S E V E N T H A N N U A L R E P O R T — F O R T H E Y E A R E N D E D JU N E 30 1907.

T he ii,««*ber of m iles of ra ilro a d ope rate d b y th e Illin o is C e n tral R a ilr o a d C o m p a n y on J u n e 30 1906 w as____________________________________
© n Jisiie 1 1907 there was a d d e d th e lin e e x te n d in g fro m Z iegler, 111., to H e rrin J u n c t io n , 111____________ ___________________ I __________________

4 ,459.14
7.35
4,466.49

Less: tra n s fe rre d J u ly 1 190^ to th e In d ia n a p o lis S o u th e rn R a ilr o a d C o m p a n y , E ffin g h a m , 111., to S w ltz C ity , I n d ________
iltBgust 15 1906, re co n stru ctio n a n d sh o rte n in g o f lin e betw een W ic k llffe a n d W ln fo r d , K y ____________________________

88.51 m iles
.54 m iles

89.05

M ttk lng th e n u m b e r of m iles o f ra ilro a d in o p e ra tio n on J u n e 30 1907_____________________________________ _______________________________________

4,377 44

'JThe average number of miles of railroad operated during the year ended June 30 1907 was 4,370.77, against an average
• f 4,423.87 operated in the preceding year.
The following is a summary of the Com pany’s business for the year ended June 30 1907:
Gross R eceipts fr o m T r a f f i c . . _____________________________________ ________________________________________________________________ ______ _______ ______ $5^,6 10 ,6 33 16
E x penses o f O p e r a tio n ________________ ________ ___ _________ _______________ ______________v,_______ _______ _________________________;___ $37,847,707 00
T a x e s ................................................................ ............. ...................................................................................................... ..............................................
2 ,217,817 76
------------- 4 0.065,524 76
In c o m e fro m T ra ffic , b e in g th e excess o f R ec eipts over E xpenses of O p e ra tio n a n d T ax es_____________________________ ___________________ $16,545,108 40
In c o m e fro m In v e s tm e n ts a n d M iscellaneous P ro fits , In c lu d in g N e t R eceipts fr o m Sale of L a n d s ____________ * __________________________________
2,818,575 10
Excess o f In c o m e over Expenses o f O p e ra tio n a n d T ax es________________ ________________________________________________________________________ _____ $19,363,683 50

From this there have been paid:
In te re s t o n F u n d e d D e b t, a n d on S t. L o u is D iv is io n P rio r L ie n B o n d s _____________________________________________________________ $3,969,860 00
R e n t o f S u b s id ia ry R a ilr o a d s , in c lu d in g th ere in th e interest g u a ra n te ed o n bo n d s o f leased or s u b sid ia ry railro ads w hich
Is p a y a b le b y th e Illin o is C en tral R R . C o _________________________ ______________________ ________ ___________________ __________
3,706,732 39
T o ta l F ix e d C harges_______________________________________________________________________________________________________________________________

7,67 6,5 92 39

N e t In e o m e fo r th e y ea r ended J u n e 30 1907_________________________________________________________________________________________________________ $11,687,091 11
S u rp lu s D iv id e n d F u n d b r o u g h t forw ard J u n e 30 1906, as show n In last R e p o r t ________________________________________________________________
1,313,826 92
A m o u n t A v a ila b le .............................................. ............. .................................................................................1_____ ^ ................................. ........ ; _________ _____ $13,000,918 03

‘JPhis has been disposed of as follows:
1 0 4 th S e m i- A n n u a l Cash D iv id e n d , p a id M arch 1 1907, 3 H % ___________-___________________________________________________________ $3,326,400 00
105th Sem i A n n u a l Cash D iv id e n d , p a y a b le A u g u s t 31 1907, 3 K % _________________________________________________________________
3,326,400 00
------ -------- $6,652,800
F o r B ette rm en ts:
P e r m a n e n t Im p ro v e m e n ts m a d e o n ra ilroa ds o w n e d __________-__________________________________________________________________ $3,794,986 97
Im p r o v e m e n t F u n d , as e x pla ine d be lo w ____________ ___________________________________________________________________________ 192,946 64
------------3,987,933
T ransfarred to " P r o fit a n d Loss” _____________________________________________________________________________________________________ * __________________
1,000,000
C a rrie d forw ard to S u rp lu s D iv id e n d F u n d as of J u n e 30 1907, a n d set a p a r t as a p p lic a b le to fu tu re D i v id e n d s ___________ _________________
1,360,184

*0

61
0*
42

$13,000,918 03

As compared with the preceding year:
T he average n u m b e r of m iles o f ra ilro a d ope rate d de cre a se d _____________________________________________________________________
53 >10 or 1 .2 0 'p e r cent
Gross R ec eipts fro m T raffic In creased______________________________________________ _______________________________________ _______ $4,974,228*00 “
9.63
Ex penses of O p e ra tio n Increased_______________________________________________________________ ,___________________ __________________ 3,545,230 33 “ 10.34
T axes incre as ed___________________________________2________________________________ ______ _____________________________________________
82,824 52 “
3.88
In c o m e from T raffic Increased-- _____ _______________________________________________________________________________________________ 1,346 ,173115 “
8.86
In c o m e fro m In v e s tm e n ts a n d M iscellaneous P ro fits, in c lu d in g N e t R eceipts fro m Sale o f L a n d s , decreased____________
438,414 01 13.46
Excess of In c o m e over Expenses of O p e ra tio n a n d Taxes in cre ased _________________ ___________________________________________
907,759 14 “
4.92
T o tal F ixe d Charges increased______________________________________________________________________________ ___________________ * ____
83,007j|ll “
1.09
N e t In c o m e fo r th e fiscal y ear In creased_________________________________ _______________________________________________________ ___
824,752 03 “
7.59
T he A m o u n t A v a ila b le a fte r d e d u c tin g F ix e d Charges incre ased _____________ ______ _____________________________________________
869,552 03 “
7.17
T he Excess o f th e A m o u n t A v a ila b le a fte r p r o v id in g fo r D iv id e n d s in c re a s e d _______________________________________________
869,552 03 “ 15.87
T he su m a p p ro p ria te d fro m In c o m e fo r B e tte rm e n ts de creased____________ ______ __________ _____________________________________
176,805 47 “
4.25
S u rp lu s D iv id e n d F u n d has been a u g m e n te d b y _____ ____________________________________________ _________ ______________ _______
46,357 50 “
3.53

During the year there was a general advance in wages and in the cost of materials; practically every class employed
participated in the increase of wages. This, together with the increase in cost of materials, affected in a marked degree
the expenses of operation.
FU N DED DEBT.
IHinois Central Louisville Division Three and One-Half Per Cent Gold Bonds to the am ount of $1,159,000 00 were
issued during the year, under the terms of the mortgage, in paym ent for actual additions and extensions on th a t Division.
T H E Y A Z O O & M IS S IS S IP P I V A L L E Y R A IL R O A D C O M P A N Y F O U R P E R CENT G O L D IM P R O V E M E N T B O N D S .
For the purpose of m aking available, either for sale or as collateral, the $13,598,000 00 of The Yazoo & Mississippi
Valley Railroad Company Four Per Cent Gold Im provement Bonds belonging to the Illinois Central R ailroad Com pany,
the directors of the latter Com pany, at their regular meeting on June 19 1907, passed a resolution providing th a t the Illinois
Central Railroad Com pany guarantees both the principal and interest of said bonds.
N ET L IA B IL IT IE S .
As shown in Abstract E , the net liabilities at the close of the year were $10,968,135 37, an increase over the preceding
year of $8,715,140 95. In explanation of the increase, attention is invited to the growth in the items of Bills Payable on
demand and at future dates, now aggregating $10,698,500 00, being $9,299,000 00 in excess of last year. This augm entation
in Bills Payable represents money borrowed to provide in part for the following expenditures:
$2,736,085 11, account of advances to the Indianapolis Southern Railroad Com pany, for which th a t Com pany’s bonds
have been received; $1,029,168 20 for Construction Expenditures on the Yazoo & Mississippi Valley R ailroad, which was
repaid with Im provem ent Bonds of that Company; $833,204 39 covering Permanent Improvements on railroads of S ub
sidiary Companies, as shown in Abstract A; $3,959,613 66 representing advances to other railroads, per Abstract F; $836,456 38 to cover purchases of real estate at New Orleans and Chicago.
BONDS O W N E D .
"•he am ount of Bonds Owned, as shown in Abstract D , has been increased by $5,289,437 94, made up of $1,159,000 00
Illinois Central Louisville Division Three and One-Half Per Cent Bonds, received in repayment of am ounts expended for
real estate and improvements on that division; $1,879,000 00 Illinois Central Purchased Lines Three and One-Half Per Cent
Bonds, transferred from Assets in Insurance Funds, other securities having been substituted therefor; $2,445,965 66 Indian>apolis Southern Five Per Cent Bonds (book value), received in payment for advances and equipm ent sold to th at Company;
$290,119 45 expended during the year for improvements on the Indianapolis Southern R ailroad between E ffing ham , Illinois,
and Switz City, Ind ia na, as per terms of contract, and added to book value of bonds. The Dubuque & Sioux City R a il
road Company redeemed $164,945 63 of its Four Per Cent Bonds, and th re were transferred to the Assets of the various
Funds $209,701 54 of the Yazoo & Mississippi Valley Railroad Com pany Gold Im provem ent Four Per Cent Bonds and
$110,000 00 of the Mississippi Valley Corporation Four Per Cent Bonds.
S IN K IN G F U N D S.
*Phe Trustees of the Cairo Bridge Fund report that on June 30 1907 they held:
For jjhe Contingent Fund, the same am ount as last year, viz., $504,750 11; for the Sinking Fund, $120,809 64, which is
23,875 66 more than last year; and for credit of the Chicago St. Louis & New Orleans Railroad Company, subject
>the order of the Board of Directors of that corporation. $193,287 43, which is $36,599 65 more than last year.
JThe Trustees of the other funds report that they held in the Sinking F und for Western Lines Bonds $716,537 65, being
$73,1*21 96 more than last year, and in the Sinking Fund for Om aha Division Bonds $73,725 97, an increase of $12,531 14.
'Rhe additions to these funds during the year am ount in the aggregate to $146,228 41 .

f




THE CHRONICLE.

798

[V o l .

lxxxv

.

S U R P L U S D IV ID E N D F U N D .
The sum of $46,357 50 derived from interest on Assets in Surplus Dividend Fund has been added to the fund, which
now amounts to $1,360,184 42.
IN S U R A N C E F U N D .
After the paym ent from the fund of all losses by fire, it was augmented during the year by $133,320 33 to $1,915,532 77.
IM P R O V E M E N T F U N D — F R E IG H T C A RS.
As stated in the report for year ended June 30 1906, this company owned, as of th at date, 3,339 cars of 20 tons and
109 cars of less capacity,-all of which were unsuited to present requirements and not in accordance w ith existing standards.
In order to provide for the cost of replacing about half of these light cars with an equal number of those of present standards
— 40 and 50 tons— the sum of $1,358,130 26 was set apart from the Income of th at year. To this F und there has been added
this year $54,868 47, interest on investment of the F u nd , and $143,807 50, value of scrap from 1,403 cars destroyed, m ak 
ing available $1,556,806 23.
D uring the year 1,100 cars were purchased and the cost thereof, $1,179,195.25, was charged to the F und, leaving a bal
ance of $377,610 98.
The remaining 303 of the 1,403 cars destroyed will be purchased or built during the ensuing year
and their cost charged against this Fund.
To continue the work of replacing light cars with an equal num ber of those of present standards, the Directors have
set apart from Income for the year ended Jui)e 30 1907 the sum of $192,946 64, thus m aking $570,557 62 available for
this purpose.
IN D IA N A P O L IS S O U T H E R N R A IL R O A D .
For 8 locomotives, 665 freight cars and 1 work car sold to the Indianapolis Southern Railroad Com pany, and for addi
tional sums advanced for the completion and betterment of the road between Switz City and Indianapolis, the Illinois Central
R ailroad Com pany received in paym ent Five Per Cent First Mortgage Bonds of the Indianapolis Southern R ailroad Company
to the am ount of $2,717,739 62. The Illinois Central R ailroad Company owns all of such bonds outstanding, am ounting
in the aggregate to $9,783,290 21, valued on the books of the Illinois Central R ailroad Com pany at their cost, $8,115,873 62.
D uring the year $290,119 45 was expended in the im provem ent of that part of the road lying between E ffingham , Illinois,
and Switz City, Ind iana. The work will be finished during the calendar year. The cost of this work, as stated in last
year’s report, is borne by the Illinois Central R ailroad Com pany, thereby increasing the cost of and adding to the value of
this Com pany’s interest in the property.
P E R M A N E N T IM P R O V E M E N T S .
D uring the year there has been expended, in additions and betterments to the property, the sum of $4,628,191 36,
as shown in detail in Table No. 1. The portion of this am ount applied to the 705 miles of original or charter lines was
$3,508,766 12, including the cost of the following new equipment: 47 locomotives, 46 passenger train cars, 1,720 freight
cars and 4 work cars; $286,220 85 was expended on various purchased lines; the total cost, aggregating $3,794,986 97, was
defrayed from the Income of the year. The cost of permanent improvements made on railroads leased, or controlled through
ownership of stock, for which this Com pany has claims against those railroads, amounted to $833,204 39; this sum was
added to the cost of Railroads and E quipm ent.
A D V A N C E S ON ACCOUNT O F O T H E R R A IL R O A D C O M P A N IE S .
The advances on account of other railroads to June 30 1907 were $7,581,728 72, being an increase of $3,959,613 66 over
the am ount at the close of the previous fiscal year.
The principal Companies to which advances have been made during the year are as follows:
K E N S IN G T O N

& EASTERN

R A IL R O A D C O M P A N Y .

The Kensington & Eastern Railroad Com pany was chartered for the purpose of constructing a double-track railroad
from a point of connection w ith the Illinois Central Railroad at Kensington, Illinois, to a point on the State Line between
In d ia n a and Illinois, near H am m ond, Ind ia na, a distance of 7.33 miles. One of these tracks will be used as a steam road,
for the jo int use of which a contract has been made between the Chicago Cincinnati & Louisville R ailroad Company and
this Com pany. One track is to be operated as an electric line, for the use of which a contract has been made with the
Chicago Lake Shore & South Bend R ailw ay Company. The contract provides ultim ately for a double track for the use of
the South Bend Company. The latter company is under obligation to permit the use of its line from H am m ond, In d ia n a,
to a point near Gary, In d ia n a, the site of the new plant of the United States Steel Corporation, which is now in process
of construction.
The am ount advanced to the Kensington & Eastern Railroad Com pany to June 30 1907 was $94,772 67, of which
$93,620 53 was expended during the past year.
M E M P H IS & S T A T E L IN E

R A IL R O A D

COM PANY.

As explained in the last annual report, th at company is building a double-track railroad from Woodstock, Tennessee,
to East Junction, Tennessee, to provide means for carrying freight trains around the City of Memphis, the length of the
line being approxim ately 15.84 miles. There has been advanced on account of this work during the year $587,918 72.
L IN E

T O N A S H V IL L E , IN C L U D IN G T E R M IN A L S .

There has been advanced on account of the Tennessee Central R ailroad Com pany, and the Terminals at Nashville,
during the year, $560,612 90. Included in this am ount is the expenditure for a 500,000-bushel capacity grain elevator,
which was constructed jo intly by this Com pany and the Southern R ailw ay Company.
L IN E TO B IR M IN G H A M , A L A B A M A .

The construction of a line of railroad from Corinth, Mississippi, to Haleyville, Alabam a, 80.23 miles, as explained in
the last annual report, has been in progress during the year, there having been expended thereon $2,577,388 06. The com
pletion of this line, with trackage agreements made with the Mobile & Ohio R ailroad Com pany, Southern R ailw ay Company
and the Kansas City Memphis & Birm ingham Railroad Com pany, will afford an entrance into Birm ingham , Alabam a.
I t is expected this line will be ready for operation about November 1 1907.
The am ount expended to June 30 1907 on the line to Birm ingham , including the Birm ingham Terminals, is $3,849,172 72.
B L O O M IN G T O N S O U T H E R N R A I L R O A D

COM PANY.

The Bloomington Southern R ailroad Company, which was chartered to build a railroad from a connection with the
Indianapolis Southern Railroad near Bloom ington, In d ia n a, to reach stone quarries, was put in operation on June 20 1907
for a distance of 2.13 miles. The am ount advanced to the Bloomington Southern R ailroad Company to June 30 1907 was
$40,000 00, there having been advanced during the present fiscal year $20,000 00.
M E M P H IS R A IL R O A D

T E R M IN A L C O M P A N Y .

A corporation has been organized under the laws of the State of Tennessee, called the Memphis Railroad Terminal
Com pany, of Memphis, Tennessee, for the purpose of constructing a Union Passenger Station and terminal facilities in the
City of Memphis. The owners of the ten railroads entering Memphis control this corporation, and have all agreed to use the
new Union Station and facilities.
A t the close of the fiscal year the Terminal Com pany had purchased real estate for the location of the station, and
plans are now being made for the facilities, the estimated cost of which is about $3,000,000 00.
There has been advanced by this Com pany on account of this work during the year $120,000 00.
S T A N D A R D S O F M A IN T E N A N C E .
'ihe policy of im proving the standards of maintenance has been strictly followed. The average weight of rail in m ain
track is 74.77 lbs. per yard, as against 74.08 lbs. last year. The average tractive capacity of locomotives on level track
has been increased from 3,940 to 4,020 tons, the average capacity of revenue freight cars from 34.78 to 36.22 tons. The
average age of rails on all the m ain tracks is 9.65 years, th a t of locomotives 11.86 years and th a t of revenue freight cars
6.87 years.
All of the 1,240 engines, the 859 passenger, m ail and express cars, the 57,601 freight cars and the 2,376 work cars
shown in the inventory are in existence, excepting 4 locomotives, 4 passenger cars and 730 freight cars. The latter will
be replaced during the ensuing year, the cost having been already provided for through the Im provement F und and by
charges to Maintenance of E quipm ent during the past year.




S e p t.

28 1907.]

THE CHRONICLE

799

In addition to the new equipm ent bought, as above set forth under the heads of Im provem ent F u n d — Freight Gars,
and Permanent Im provem ents, there have also been bought or bu ilt during the year, and charged to Expenses of Operation,
9 new passenger cars and 1,940 new freight cars, to replace old ones disposed of or destroyed.
Passenger train equipm ent is all provided w ith air-brake appliances, and 93.43 per cent of the freight cars are like
wise equipped.
A D D IT IO N A L M A IN T R A C K .
A t the close of the year there were in service 678.53 miles of second m ain track and 72.56 miles of third and additional
m ain track, m aking altogether 751.09 miles, being 1.10 miles more than last year. D uring the year the double track draw
span over Pass Manchac has made complete the second m ain track from Manchac to Frenier, Louisiana, giving a continuous
second m ain track mileage from Asylum , Mississippi, to Frenier, Louisiana, a distance of 162.06 miles.
B L O C K S IG N A L S .
A t the close of the year 1,030.37 miles of road— 1,324.79 miles of track — were operated under autom atic or m anually
controlled block-signal protection. Those portions of the road on which the traffic is most dense and operating condi
tions most difficult have been covered.
The attention of the stockholders is invited to the accom panying Balance Sheet and to the Abstracts explanatory
thereof, as well as to the various Tables showing further details of the Com pany’s business.
By order of the Board of Directors,
A L E X A N D E R G. H A C K S T A F F ,
N E W Y O R K , September 11 1907.
*
Secretary.
GENERAL

BALANCE

SHEET.

Abstract:,

A b s tr a c t.
R a ilr o a d s a n d E q u ip m e n t ___________ _______________ $192,313,361 76
R e a l E s ta te _________________________________________ j
315,479 00
M a te ria l a n d S u p p lie s _____________________________
3,728,245 90
S tocks O w n e d _______________________________________ '
6,753,2/14 89
B on ds O w n e d _______________________________________j 58,856,720 22
A dv a n ce s on A c c o u n t o f O th e r R a i l r o a d s . - ___
7,581,728 72

S t. L . A . & T . H . R R . a n d S u b 
sid ia ry L in es Suspense A c 
c o u n t ____ _________ _____________
Assets in Im p ro v e m e n t F u n d ___
Assets in In su ra n ce F u n d _______
Assets In S u rp lu s D iv id e n d F u n d
Assets in P en sion F u n d _________

53,328,300
570,557
1,915,532
1,360.184
250,000

00
62
77
42
00

7,424,574 81

C a p it a l S to c k ________ _____ ______________ ___________
Leased L in e S t o c k .________________________________
F u n d e d D e b t of 1 1 1 .C e n t.R R .C o .5129, ,19,275 00
F u n d e d D e b t o f C hicago S t.L o ti is
& N ew O rle an s R R . C o _______
16 234,000 00
S e t A p a r t to P ro v id e for D iv id e n d P iy a b le A u 
gust 31 1907_______________________ ______________
P ro fit a n d L o s s _____________________ . ___________
N e t L ia b ilitie s . .T L________________________________ _
S to c k a n d F u n d e d D e b t of S r. L .
A . & T . H . a n d S u b s id ia ry
L in e s ____________________________
53,328,300 00
Im p r o v e m e n t F u n d ______________
570,557 62
In s u ra n c e F u n d _________________
1,915,532 77
S u rp lu s D iv id e n d F u n d __________
1,36 0,1 84 42
P ension F u n d ____________________
250,000 00

5276,973,345 30

515,040.000 00
1 0 ,0 0 0 , 0 0 0 0 0

146,053,275 00
3,326,400 00
4 .160,960 12
10,968,135 37

7 ,424,574 8
§276,973 ,345 30

ABSTRACT A .— R A IL R O A D A N D E Q U IP M E N T .
A s shown in the Report for the
Y e ar ended J u n e &0th.
1906.

1907.
Illin o is C e n tra l R R . — P ro p e r________ ____________ _______________ ______ _______
Illin o is C e n tral R R . — P urchase d Lines:
L itc h fie ld D iv is io n __________________________________________________________
C hicago & .Springfield______________________________________________________
K a n k a k e e & S o u th w este rn _________________________________________________
C hicago H a v a n a & W e s te rn _________________________ ______ ______ ______ _
R a n t o u l ____________________ ._________________________________________________
C hicago M adison & N o r th e r n ___________________________1______ __________
R iv e rs id e & H a r le m ______________ _________________________________________
C hicago & T exas____________________________________________ . . . . ____________
M o u n d C ity ________ ______________ ______________________________________ _____
S t. L o u is D iv is io n (S t. L o u is A lt o n & Terre H a u t e ) ____________________
M a t to o n to E v a n s v ille _________________________________________ ______ _____
P eoria D e c a tu r & M a t to o n ____________ ______ ______________________________
S t. Lo u is & O h io R iv e r ____________________________________________________
M o u n ds & O liv e B r a n c h _________________________ -_________________________
Groves & S a n d R id g e _______ _______ _______________________________________
C h risto p h e r & H e r r in __________________________________________________ ____
S o u th C hicago R R _________________________________ :____________________________
B lu e Is la n d R R _____________________________________________________________ _____
C a n to n A berdeen & N a s h v ille R R _______________ ___________ ___________________
C hicago S t. L o u is & N ew O rle an s R R _________________________________________
L o u is v ille D iv is io n Lease a n d M o rtg age L ie n _________________________________
H e n on D u b u q u e & S io u x C ity R R . to secure I . C . W estern L in es B o n d s
O m a h a D iv is io n .________________________________________________________ _________
T o t a l .............................................................. ............... ..........................................................................

565,611,327 42
244,185
552,834
438,943
848,264
584,339
877,359
205,583
852,828
12,968
959,256
064,013
168,870
285,062
261,885
532,078
78,559
255,972
71,373
018,178
843,166
121,309
425,000
000,000

565.611.327 42

31
54
41
21
79
49
14
43
68
48
25
74
21
19
68
77
25
45
41
92
99
00
00

5192,313,361 76

3,244 ,185
2,552 ,834
1,438 ,943
1,848 ,264
584 ,339
10,877 ,359
205 ,853
1,852 ,828
12 ,968
12,959 ,256
2,084 .013
3,168 ,870
285 ,062
261 ,885
532 ,078
78 ,559
254 ,506
71 ,058
2,013 ,546
44,384 ,565
26,753 ,119
5,425 ,000
5,000 ,000

31
54
41
21
79
49
14
43 |
68
48
25
74
21
39
68
77
48
51,465 77
315 00
45
31
4,632 10
55
458,601 37
84
368,190 15
00
00

$191,480,157 37

5833,204 39

ABSTRACT C .— STOCKS O W N E D .
P a r V alue.
525,270
10,200
10,466,200
80,000
250 .000
311.400

O th e r S tock s- _______ ________________ ______________________________________________________________ __________ __________________

00
00
00
00
00
00

511.143.070 00

Book V alu e .
$25,270
10,200
6,430,889
40,000
203,200
43,675

00
00
02
00
00
87

$6,753,234 89

ABSTRACT D . — B O N D S O W N E D .
P a r V alu e.

I llin o is C e n tral G o ld , L itc h fie ld D iv is io n . Threes o f 1951 ___

$71,000
2,100.000
275
87,000
2,662,000
10,347,853
620,852
9,783,290
3,167,000
600
460,500

__________ _ ___________ ______ ___________ ______ _

Y a z o o & M ississippi V a lie v R R . Co. G o ld , Im p ro v e m e n t F ours of 1934, R egistered - _ ........... -...............................
D u b u q u e & S io u x C ity R R . C o. G o ld F ours of 1951_______ ______ _________ ____
______ ________________________
In d ia n a p o lis S o u th e rn R R . Co. G o ld F iv e s _______
_____________________________________ ______________ ______ ______
M ississippi V a lle y C o rp o ra tio n F ours of 1043, R egistered ________ _______ _______ _______ _________________________ _____

B o n d s P le d g e d —
Se« A b s tra c t “ M .”
Cherokee & D a k o ta R R . C o. F irs t M o rtg age G o ld F ives o f 1935 ____________ __________ $3,100,000 00
C edar R a p id s & C h ica g o R R . C o. F irst M o rtg age G o ld F ives of 1935 ---------------830,000 00
L o u is v ille N ew O rle an s & Texas R y . C o. F irst M ortgage G o ld F ours o f 1934 ___ ______ 516,832,000 00
L o u is v ille New O r cans & Texas R y . C o. Second M ortgage Fives o f 193 4 ________________
9 ,104,000 00
L o u is v ille New O tle a n s & Texas R y . C o. L a n d G r a n t In c o m e B on ds o f 1934____________
9,904,000 00




j

00
00
00
00
00
56
68
21
00
00
00

Book V alu e .
571,000
2 100,000
101
87,000
2,662,000
10,347,853
620,852
8,115,873
3 ,167,000
600
523,073

00
00
50
00
00
56
68
62
00
00
13

529,300,371 45

$27,695,354 49

2,800,000 00

2,324.488 18

3,930,000 00

3 ,93 0,0 0* 00

35,840,000 00

24,906,877 55

$71,870,371 45

$58,856,720 22

800

[V o l .

THE CHRONICLE.

lxxxv

.

ABSTRACT E .— ASSETS A N D L IA B IL IT IE S .
ASSETS.

L IA B IL IT IE S .

C ash _____________________________________________
B ills R e c e iv a b le a n d Loans on C o lla te r a l____
• u e fro m S o lv e n t C o m pa n ie s a n d In d lv ld u a ls .
B n e fro m A g e n ts ________________________________
D ub t o m S u b s id ia ry C o m p a n ie s______________
© tb e r A s s e t s ____________________ _______________

$1,006,664
116,333
2,394,755
2,197,432
1,307,385
1,608,346

54: P a y a b le on D e m a n d —
83| | B ills P a y a b le ........................................................
A u d it e d V ouchers—
65i!
V ouchers A u d ite d p rio r to J u n e 1 1 9 0 7 ..
00!!
83
V ouchers A u d ite d fo r J u n e 1907.-_______
78 j I
W acres a n d S alaries—
D u e p rio r to J u n e 1 1907________
D u e fo r th e m o n th of J u n e 1907
N e t T raffic B alan ces d u e t o o th e r C om pan ie s
D iv id e n d s n o t c alle d fo r _________________
M a tu re d In te rest C oupons u n p a id —
D u e p rio r to J u ly 1 1907_______________
D u e on J u l y 1 1907____________________

$400,000 00
$390,957 52

2,787,371 29

$215,984 75
2,179,412 33

2,395,397 08
288.335 48
28,155 30

$73,043 75
1,063,450,00

1,136,493 75
200,000 00
501,303 57

R e n ts p a y a b le J u l y 1 1907O th e r A c cou nts P a y a b le ___
P a y a b le a t F u tu re D ate s—
B ills P a y a b le _______ _______ ____________
In te re st on F u n d e d D e b t accru ed to J u n e
30 1907___________________________________
F u n d for R e n e w a l of E n g in e s a n d C a r s .F u n d for A u to m a tic C ouplers a n d A ir
B ra k e s .._________________________________
F u n d for R e n e w a l o f M arin e E q u ip m e n t
B a la n c e — N e t L la ' ili.ie s .

$10,968,135 37!

$7,737 M S 47

10,298,500 00
652,691 46
$468,974 83
32,237 06
19,294 89

520,506 78
390,299 34

O th e r A cco u nts P a y a b le .

1 1 ,8 6 1 ^ 9 7 58
$19,599,054 05

$19,599,054 05'

ABSTRACT P .— A D V A N C E S ON ACCOUNT O F O T H E R R A IL R O A D S .
Amoi r.t Advanced as Shown
in the Report for the Year
Ended June 30th.

T o t a l ..............................................................................................................................................................

*■

1906.

1907.
$94,772
3,779
40,000
2,446,367
3 849,172
861 ,302
120,000
166,333

K e n s in g to n & E a s te rn R R __________________________
R o c k fo rd R R _________________________________________
B lo o m in g to n S o u th ern R R _________________________
L in e to N a s h v ille a n d T e rm in als in N a s h v ille ____
L in e to B ir m in g h a m _________________________________
M e m p h is & S ta te L in e R R ____ ______________________
M e m p h is R a ilr o a d T e rm in a l Co „ ___________________
C a n to n A berdeen & N a s h v ille R R . in A la b a m a .

k

$1,152
3,706
20,000
1,885,754
1,271,784
273,384

67
45
00
46
72
76
00
66

14
00
00
56
66
04

166,333 66
$3,622,115 06

$7,
$7,581,728 72

f Decrease.

Increase.
$93,620
73
20,000
560,612
2,577,388
587,918
120,000

53
45
00
90
06
72
00

.....................
$3,959,613 66

ABSTRACT I .— A P P L IC A T IO N O F IN C O M E .
D R . IT E M S .
S u rp lu s D iv id e n d F u n d J u n e 30 1906, as show n in la st re p o rt__________
N e t R e c e ip ts d u r in g the year ended J u n e 30 1907—
F ro m the O p e ra tio n of the R a ilw a y , as show n in A b s tra c t “ N " ____
F ro m the L a n d O ffic e _____________________________________________________
F ro m In v e s tm e n ts a n d M iscellaneou s P ro fits, as show n in A b s tra c t • K ” .
A v a ila b le fo r F ix e d Charges a n d

$1,313,828 92
$16,545,108 <
4,607 ;
2,813,967 (

1 9,363j£8£ 50
$20,677,5*0 42

D lv id e n d s .

CR. IT E M S.

In te re s t on F u n d e d D e b t to J u ly 1 1907, Inclu siv e—
S te rlin g Sixes, ex tended as F ours o f 1951____________ L _ . ______ _________________________________________ $2 500.000
S te rlin g Fives of 1905, ex tended as G o ld Three a n d a H a lfs of 1950 _________________________________ 1 0 00,000
G o ld F ours of 1951__________________________________________________________________________________________ 1 ,500,000
G o ld Three a n d a H a lfs o f 1951____________________________________________________________________________ 2 ,499,000
S te rlin g Threes of 1951_______________________________________________________________________________________ 2 ,500,000
S te rlin g S in k in g F u n d F iv es, ex tended as G o ld Three a n d a H a lfs o f 1951_____ ____________________3 0 00,000
968.000
C urre n c y , K a n k a k e e & S outhw estern R R . F ives of 1921................... ........................ ............. ......................
S te rlin g Three a n d a H a lfs of 1 9 5 0 ________________________________________________________________________ 5 ,266,000
G o id F c u rs of 1952____________________ ______ _________________ ______________________________________________ 15 000,000
G o ld C a iro B ridg e F ours of 1950 _____________________________ ___________________________________________ 3 ,000,000
G o ld F ours of 1953_________________________ _______ _________________________________________________________25 000,000
G o ld W es tern L in e s F ours o f 1 9 5 1 ___________ :------ ------------------------ ------------------- 5 ,425,000
G o ld S t. L o u is D iv is io n Threes o f 1 9 5 1 ___________________________________________________________________4 ,998,000
G o ld S t. L o u is D iv isio n Three a n d a H a lfs o f 1951---------------- -------------------------- 8 ,377,000
G o ld S prin gfield D iv isio n Three a n d a H a lfs o f 1 9 5 1 ----------------- ------- ----------------2 ,000,000
G o ld O m a h a D iv isio n Threes of 1 9 5 1 _______________________________________________________________________ 5 ,000,000
G o ld L itch fie ld D iv isio n Threes of 1 9 5 1 ________ _________ _________________________________________________ 3 ,235,000
G o ld P urcha se d L in es Three a n d a H a lfs o f 1952 ________________________________________________________ 14 662.000

,
,

,

.

@ 4%
“ 3H
"4 %
“ 3H %
•' 3 %
“ 3H %
"5 %
"3 ^%
"4 %
"4 %
• '4 %
“ 4%
"3 %
"3 H %
" 3H %
■3%
••3 %
"3 « %

$100 000
35 000
60 000
87 465
75 000
105 000
48 400
184 310
600 000
120 000
1,000 000
217 000
149 ,940
293 ,195
70 000
150 ,000
97 ,050
513 ,170

('
(
(
(

V
(
(
(
(
0
0
0
C
0
0
0
0
0

$3,905,530 0
In te re s t on S t. Lo u is D iv isio n P rio r Lien BondsC u rren cy, B elleville & E ld o ra d o R R _________
C urrency B elleville & C a ro n d e le t R R ________
G o ld , S t. L o u is S o u th e rn R R ___________________
G o ld , C a ib o n d a le & S h aw n e eto w n R R . . ..........

$71,000 © 7 %
470,000 “ 6 %
5 3 8 ,0 0 0 " 4 %
2 4 1 ,0 0 0 " 4 %

$4,970
28,200
21,520
9,640

00
00
00
00

64,330 0
$3,969 860 00

In f- re st on F u n d e d D e b t a n d S t. L o u is D iv is io n P rio r Lien B on ds
R e n t o f C . S t. L . & N . O . R R —
C u rre n c y . S econd M ortgage Sixes o f 1907_______________________________________
$80,000 @ 6 %
G o ld Fives o f 1951.............. ................................................................................................. 16,555,000 “ 5%
G o ld Three a n d a H a lfs o f 1951 ..................................................... ........................ ..
1,359,000 " 3 ^ ;
G o ld M e m phis D iv isio n F ours of 1 9 5 1 ___________________ _______________________
3,500,000 “ 4 %
G o ld B ridge B on ds F ives of 1950 _______ ______________ ______ ______ ____________
3,000,000 “ 5 %
G o ld L ou is v ille D iv is io n Three a n d a H a lfs of 1 9 5 3.$ 22 ,7 29 ,00 0 6 m o s. @ 3J4 % $397,757 50
2 ,8 8 8 ,0 0 0
"
••
"
418,040 00
Leased L in e S t o c k .________ _______________________________ ______ __________ ______ -$10,000,000 @4 %
S in k in g F u n d for C airo B ridge B e n d s , D ecem b er 1 1906 a n d J u n e 1 1907--$20,000 00
T rust F u n d fo r C. S t. L . & N . O R R . C o ., D ecem b er 1 1906 a n d J u n e 1 1907
10,000 00
Salaries o f Trustees a n d o th e rs____________________________________________________
R e n t of C ecilia B r a n c h ____________________________________________________________
R e n t of L in e from P rin c e to n to G rac e y ___________ _______ _____________________

$320 00
40,000 00
12,039 70

$4,800
827,750
47,565
140,000
150,000

00
00
00
00
00

815,797 50
400,000 00
30,000 00

52,359 70

R e n t of D u b u q u e & S ioux C ity R R . (In c lu d in g $46,733 60 S in k in g F u n d on G o ld W estern Lin es F o urs,
a n d $10,000 S in k in g F u n d on G o ld O m a h a D iv is io n T h r e e s ) ------------ ---------------------

$1,605,460 19

In te re s t on G o ld W e s te rn L in e s F ours o f 1951, as a b o v e -------------------------- $217,000 00
In te re s t on G o ld O m a h a D iv isio n Threes o f 1951, as a b o v e _____________________________ 150,000 00

367,000 00

$2,468,272,20

1,238,460 19

R e n t o f S u b s id ia ry R ailroads-

,706.782 39

T otal F ixe d C h a rg e s ----

$7 ,676.602 39

B iv id e n d , M arch 1 1907, on Illin o is C e n tral shares________________________________ __________________________$95,040,000 © 3 % ?
D iv id e n d , A u g u s t 31 1907, on Illin o is C en tral shares________________________________________________________ 95,040,000 @ 3M %

$3,326,400 00
3,326,400 0O

Set a p a r t fro m In c o m e —
F o r Pe rm a n e n t Im p r o v e m e n ts ..... ............. ...................... ............... ..................................................................................... -...................
F o r Im p ro v e m e n t F u n d -----------------------------------------------------------------------------------To P ro fit a n d L o s s______________________________________________________________________________________________________________

$3,794,986 97
192,946 64
1 ,000,000 00

S u rp lu s D iv id e n d F u n d , a p p lic a b le to F u tu re D iv id e n d s .




6,653.8*0 •«
4,987,963 61
$19 .3 17 .se e o»
I 1 .360.184 42
$20,677,510 42

S e p t.

28 1907.]

THE CHRONICLE.

Cr.

ABSTRACT K — IN C O M E F R O M IN V E ST M E N T S.

Dr.
In te re st P a id o n M o ne y borrow ed less
received on M o ne y lo a n e d ________
F ix e d Charges of S u b s id ia ry L in es
w ritte n o f f _________________________

801

D iv id e n d s on Stocks O w n e d —
Illin o is C e n tra l R R . C o _____________________
C hicago S t. L ou is & N ew O rle an s R R . Co_
D u b u q u e & S io u x C ity R R . C o ____________
503,500 00
O th e r S to c k s---------------------------

$154,970 45

In te rest on B o n ds O w n e d —
I . C. R R . Co. G o ld F ours of 1953 _______________________
I. C. R R . C o. G o ld L itc h fie ld D iv isio n Threes of 195 1 ___
I . C . R R . C o ., G o ld L ou isv ille D iv is io n 3 3^s of 1953 . .
I . C . R R . C o ., G o ld P urchase d L in es 3 V £ so f 1952 ____
Y . & M . V . R R . C o. G o ld Im p ro v e m e n t F ours o f 1934
D u b u q u e & S ioux C ity R R . C o. G o ld F ours o f 1 9 5 1 ..
In d ia n a p o lis S o uthern R R . C o. G o ld Fives of 1953 ._
C . S t. L . & N . O . R R . C o. G o ld F ives of 1 9 5 1 _________
C . S t. L . & N . O . R R . C o. G o ld B ridge Fives o f 1950
Y . & M . V . R R . C o ., G o ld F ives of 1952_______________
L . N . O . & T . R y . C o. F ours o f 1934___________________
Cherokee & D a k o ta R R . C o ., F ives o f 1935---------C edar R a p id s & C hicago R R . C o ., F ives o f 1935-----Io w a F alls & S ioux C ity R R . C o ., Sevens of 1917_____
M ississippi V a lle y C o rp o ra tio n F ours of 1 9 3 4 ................

00
00
00
00

$2,840
2,610
53,217
89,740
421,758
31,431
296,534
263,300
150.000
140.000
673,280
155.000
41,500
32,235
129,243

00
00
50
00
95
94
51
00
00
00
00
00
00
00
41

'$422,02

0

2,482,691 31
46,357 50
11,816 13
6,046 11

In te re st on Securities in S u rp lu s D iv id e n d F u n d -----------------S u n d r y P ro fits ______________________________________________________________
S te rlin g E x c h a n g e __________________________________________________________
In te rest on B o n ds o f S u b s id iary Lines pledged to secure
$15,000,000 Illin o is C en tral F ours of 1952— $16,350,000 F iv e s ________________________________________ _________$817,500 00
Less In te re s t Collected as A bo ve
F ro m Y . & M . V . R R . C o. on Its G o ld Fives
*
of 1952_____________ _ ______________________ $140,000
F ro m D u b u q u e & S lo u x C ity R R . C o.—
O n Cherokee & D a k o ta R R . C o. G old
F ives o f 1 9 3 5 ._______________ ______ _____ 155,000
O n C ed ar R a p id s & C hicago R R . C o. G o ld
Fives of 1935____________________________
41,500
336,500 00

Balance, representing Net Income from
Investm ents---------------

$1,841
408
418,648
1,130

$481,000 00

In te re s t o n —
S o u th C hicago R R . C o. F ives o f 1922_____________________________
C a n to n A berdeen & N ashv ille R R . C o. N o te given for B o n d s
c a n c e le d __________________________________________________________
2,813,967 60

10,000 00
12,500 00

503,500 00
$3,472,438 05

$3,472,438 05

TABLE NO. 1.— P E R M A N E N T IM P R O V E M E N T S .
A m oun ts E xpended d u rin g
the Y e ar ended, J u n e 30 1907.

B Y ROADS.

$3,508,766 12

Illin o ls JC e n tr a l R R . — P ro p e r---------------------------------------I*-'**
Illln oisT C e n tral R R . — P urchase d Lines:
L itc h fie ld D iv is io n -------------------- ------------ ----- -----C hicago & S p rin g fie ld -----------------------------------------K a n k a k e e & S o u th w e s te rn ..................................... — ................. -...............
C hicago H a v a n a & W e s te r n ----- ------ -----------------------• R a n t o u l __________________________________________________________________ C hicago M adison & N o r th e r n ----------------------------------C hicago & T exas------------------- --------------------------S t. L o u is A lto n & Terre H a u t e --------------------------------M a tto o n to E v a n s v ille - - ---------------------------------------P eoria D e c a tu r & M a t to o n -------------------------------------S t. L o u is & O h io R iv e r __________________________________________________
M o u n d s & O liv e B r a n c h ---------------------------------------’ C h risto p h e r & H e r r in -------------------------------------------

C r.

$3,793
31,128
1,455
1 ,449
628
79,402
5,883
63,231
36,634
4,702
1,161
10,019
49,641

27
22
98
69
17
92
32
43
38
92
73
61
17

S o u th C hicago R R _____________________________________________________________
B lue Is la n d R R --------------------------------------------------C a n to n A be rde en & N a sh v ille R R ---------------------------------M|
C hicago S t. L o u is & N ew O rle an s R R . —
M a in L in e a n d B ra n che s--------------------------------------M e m p h is D iv is io n ----- ----- -------------------------- ------L o u is v ille D iv is io n ----------------------------------------------

$1,465 77
315 00
4,632 10
.$427,231 25
.
31,370 12
368,190 15

826,791 52

D IS T R IB U T E D A S F O L L O W S .
C o n s tr u c tio n —
W a y L a n d s a c q u ir e d ------------------------------------------------S ta tio n G ro u n ds a c q u ire d --------------------------------------------B u ild in g s -----------------------------------------------------------S ection H o u ses-----------------------------------------------------B r id g in g ------------------------------------------------------------W a te r - W o r k s -------------- ----------------------------------------C a ttle G u ard s a n d Crossings-----------------------------------------S id in g s -------------------------------------------------------------B a lla s t in g ----------------------------------------------------------R a is in g G rade of T rac k s------------------------------- -------------N ew S econd M a in T ra c k ------------------ --------------------------B lo c k S ig n a ls . -------------------------------------------------------I n t e r lo c k in g ----------------------------------------------- ----- ---D ocks a n d W h a r v e s ------------------------------------------- ----La k e F r o n t P r o t e c t io n .---- -------------------------- ---------- ----L a k e F ro n t Im p r o v e m e n t s -------------------------------------------E x te n s io n of L in e , Z elgler, 111., to H e rrin , 111......................................................
R iv e r P ro te c tio n , E a s t S t. L o u is , 111----------------------------------R iv e r P ro te c tio n , M e m p h is , T e n n ------------------------------------E le v a tio n of T racks, 67th Street to 7 9 th S tre e t, C h ic a g o ................................
■ W id e n in g C u ts a n d E m b a n k m e n ts -----------------------------------B ra n c h C. S t. L . & N . O . R R . —
D ye rsb u rg , T e n n ., to O b io n R iv e r a n d E x te n s io n s _____________________
N e w S h o p , M a c h in e ry a n d T o o ls --------------------------------------

M arin e E q u ip m e n t:
Proceeds of Sale o f T w o B arges.
D efrayed from IncomeC h a rg e d to C a p ita l----




833,204 39
$4,628,191 36

T o ta l-

N e w E q u ip m e n t purch ase d In a d d itio n to N e w E n g ine s a n d Cars b o u g h t or b u ilt to replace O ld Ones:
47 L ocom otiv es:
5 P acific T ype Passenger L o c o m o tiv e s -----------------------------------------------40 C o n s o lid a tio n F re ig h t L o c o m o tiv e s------------------------------------ ----------2 6-wheel S w itc h in g L o c o m o tiv e s ----------------------------------------------------26 Passenger Cars:
5 61-ft. C h a ir C a r s _________________________________________________ -______________________________
20 61-ft. Passenger C o a c h e s ___ ^ -----------------------------------------------------1 Business C ar N o . 1 5 _____________________________________________________________________________
18 B aggage Cars:
10 61-ft. B aggage C a rs ........................................................... ................. ................. ......................................
8 65-ft. C o m b in a tio n P o stal a n d B aggage C ars_________________________________________________
2 M a ll Cars:
T
2 60 f t . P o stal C a rs----------------------------------------------------------------1,720 F re ig h t Cars:
1,400 40-ton B ox C a rs ....................................................... ......................................................................................
300 50-ton F la t C ars................................................ ................................................................... ........................
20 40-ton D u m p C ars---------------------------------------------------------------4 W o r k Cars:
1 I.ldg erw oo d B a llas t U n lo a d e r.............................. .......................... ..........................................................
3 A m e ric a n D it c h e r s ---------------------------------------------------------------3 W o r k Cars u n d e r co ns tructio n :
2 75-ton S te am W r e c k in g D e iric k s _________________________ __________ __________ ,________________
1 C o m b in a tio n Pile- D river a n d D e r ric k -----------------------------------------------

286,220 85
$3,7 9 4 ,9 8 * 97

T o ta l on Illin o is C en tral R R . P rop er a n d o n P urchase d L in e s .

Cr

$17,704
8,66.3
589,643
3,958
128,305
55,299
5,301
408,939
10,665
118,197
265,416
43,552
1,651
19,157
1,413
19,369
37,872
17,950
43
117,637
9,584

34
01
92
21
43
42
57
65
03
83
02
56
13
80
63
49
43
19
70
99
54

6 00
72,837 68
$1 ,935,845 55
$94,256 80
655,621 84
27,000 00
47,407 21
184,132 96
24,178 73
58,847 66
55,982 52
15,457 51
1,220,621 23
260,942 30
20,129 26
4,218 96
18,074 03
11,862 87
4,236 93
$2,692,970 81
.C r .
625 00

2,692,345 81 $4,628,191 36
$ 3,794,986 97
833,404 39 $4,628,191 36

THE CHRONICLE.

[V o l .

lxxxv

.

T ABLE NO. 3.— C O M P A R A T IV E STATEM ENT O F R E C E IP T S F O R T H E Y E A R S E N D E D J U N E 30 1907 A N D 1906.
Y e ar E n d e d J u n e 30th.

P e r Cent
of Increase
or D e c .

1907.
F r e ig h t _____________ ._______________________ _____________
P as s e n g e r________________________________________________
M a il____________________________ _______ __________________
E x p re s s __________________________________________________
Excess B a g g ag e_________________________________________
T ra n s p o rta tio n o f M ilk ________ .________________________
T ra in P riv ile g e s_________________________________________
P a r lo r C ars_______________________________________________
R e n t o f P r o p e r ty _______________________________ ________
R e n t » f T r a c k s _________________________________________
T eleg rap h _______________________________________________
S w itc h in g (b a la n c e )____________________________________
D e m u r ra g e , S to rag e, e tc _______________________________
In te r- S ta te T ransfer a n d R eceip ts over o th e r L in e s .

$38,033 .270
11,187 ,532
900 ,260
1,186 ,475
178 ,593
160 ,139
42 ,209
9 ,656
462 ,660
453 ,071
4 ,564
279 ,864
193 ,353
3,518 ,981

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

78
59
07
85
25
50
28
48
03
28
27
64
59
55

$56,610,633 16

$34,637 ,124
10,004 ,041
910 ,018
1,354 ,231
167 ,314
136 ,052
43 ,761
9 ,972
442 ,300
371 ,577
7 ,538
287 ,786
154 ,907
3,109 ,778
I

39
27
62
17
05
88
89
32
18
00
23
72
67
77

$3,396,146 39
1,183,491 32

38,445 92
409,202 78

9.80
11.83
1.07
12.39
6.74
17.70
3.55
3.17
4.60
21.93
39.45
2.75
24.82
13.16

$51,636,405 16

$4,974,228 00

9.63

11,279 20
24,086 62
20,359 85
81,494 28

$9,758 5S»
167.755 32
1,552 61
315 84
2,973 96
7,922 08

TABLE NO. 4.— C O M P A R A T IV E STATEMENT OF O P E R A T IO N E X P E N S E S IN D E T A IL F O R T H E Y E A R S E N D E D
JU N E 30 1907 A N D 1906.
Y e ar ended J u n e 30th.

! P e r Cent
'of Increase
or Dec

Increase.
M a in te n a n ce of W a y a n d S tru c tu re s ----------------------------$6,851 449 77
R o a d D e p a rtm e n t A d m in is tr a t io n _______________________________ . . .
27 ,087 51
R o a d S u p e rinten de n ce________________________________________________
200 ,683 17
R en ew a l of B a lla s t ______________________________________ ______________
219 ,516 78
C le a n in g S n o w , Ic e , W e e d s , e tc _______________________-____________
209 ,943 06
R a il F a s te n in g s ________________________________________________________
245 ,307 27
384 ,308 63
R e p a irs a n d R en ew a ls of F rog s, S w itches, S ig n a ls, e tc __________
G eneral R e p a irs of R o a d b e d a n d T rac k s___________________________
2,152 .036 15
M a in te n a n ce o f L a k e Shore P ro te c tio n -----------------------1 ,552 10
263 ,644 81
E x tr a o r d in a r y R e p a irs of R o a d w a y a n d T rack s___________________
L a y in g R a l l s __________________________________________________________
143 .626 32
L a y in g Cross T ie s ______________j ______________________________________
124 ,317 52
R en ew a ls o f R a ils ____________________________________________________
249 ,975 21
R en ew a ls o f T ies_______________________________________________________
427 ,672 24
B ridg e S u p e rin te n d e n c e ______________________________________________
40 ,939 55
G eneral R e p a irs , R en ew a ls o f B ridges a n d C ulv e rts a n d O p e ra tio n
of D r a w b r id g e s __________________________________________________
837,038 68
R e p a irs a n d R en e w a ls o f F ences_____________________________________
84,180 70
R e p a irs a n d R en ew a ls o f R o a d Crossings, Signs a n d C a ttle G u ard s
136,007 79
26,823 25
B u ild in g S u p e rin te n d e n c e ________________________________ 1__________
R e p a irs a n d R en ew a ls of E n g in e H ou ses, S h o p s, e tc _______________
199,174 81
R e p a irs a n d R e n e w a ls o f S ta tio n ,O ff ic e a n d M iscellaneous B u ild 
ings ........ ................. ...................................................... .................
432,270 86
M a in te n a n c e of S ta tio n a n d S ho p G r o u n d s ___________________
75,095 94
124,752 52
R e p a irs a n d R en e w a ls o f F u e l S ta tio n s _______________________
R ep airs a n d R enew als of W a te r S t a t io n s ____________________
144,034 37
R e p a irs a n d R en e w a ls o f D ocks a n d W h a r v e s ________ ______
17,363 42
R e p a irs a n d R en ew a ls o f T e le g r a p h _________________________
65,328 92
S ta tio n e ry a n d P r in tin g — -Road D e p a r t m e n t ________________
16,737 14
O th e r E xpenses o f R o a d D e p a r t m e n t ________________________
19,332 68
Cr.
D iv e rsio n o f L in e , W icklifTe to F o rt Jefferso n ______________
17,301 63

$6,855 ,173
27 ,580
173 ,799
288 272
239 ,039
284 ,846
280 ,174
1,892 ,451
6 ,432
159 .434
135 .228
210 ,313
392 ,847
743 ,861
34 ,786

08
53
21
39
25
06
10
87
39
87
27
72
42
60
92

724,113
84,321
101,679
24,065
148,648

84
79
41
48
06

399,133 81
44,084
102,972
24,449
58,625
14,109
19,901
240,000

20
13
25
49
37
65
00

$26,883 96

104,134 53
259,584 28
104,209 94
8.398 05

6,152 83
112,924 84
" 34.328 38
2.757 77
50,526 75
33,137
75,095
80,668
41,062

05
94
32
24

6,703 43
2.627 77

.05
1.79
15.47
23.85
12.17
13.88
37.17
13.72
75.87
65.36
6.21
40.89
36.37
42.51
17.69

$7,705,028
139,997
623,515
1,384,208
311.185
665,682
3,848,021
76,275
6,668
319,598
14,588
315,287

16
74
36
28
34
11
23
72
35
02
82
19

$1,890,978
4,974
112,774
158,962
40,207

68
57
88
39
38

1,497,221
38,672
1,755
30,499
4,711
1,297

51
18
30
32
97
82

$20,213,508
C o n d u c tin g T r a n s p o r t a t io n ----------------- ----------------3,352,856
Passenger T ra in E x pen ses_________________________________________
8,162,549
F re ig h t T ra in E x penses____________________________________________
4,692,491
S ta tio n E x penses____________________________________________________
777,295
T elegraph E x p e n s e s ________________________________________________
1,335,630
C laim s a n d D a m a g e s ________________________.i_______________________
559,179
O u ts id e A gencies____________________________________________________
120,975
A d v e r t is in g _____________________________ .>__________________________
769,977
T ran s p o rtatio n a n d T raffic S u p e rin te n d e n ce ____________________
C r.
690,932
M ileage o f Cars (b a la n c e )___________________________________________
4,388
C afe Cars a n d H o te ls (b a la n c e )________________________ .___________
89,291
C le a rin g W r e c k s ____________________________________________________
20,746
O p e ra tin g M a rin e E q u ip m e n t ___________________________________ _
420,644
R e n t fo r T rac ks, Y a rd s a n d T e rm in a ls ___________________________
33,175
R e n t o f B u ild in g s a n d O th e r P ro p e rty ___________________________
565,238
M iscellaneous E x penses, T ra n s p o rta tio n a n d T raffic D e p a rtm e n ts

20
62
01
84
39
81
83
09
17
51
36
74
99
03
22
61

$18,568,354
2,859,352
7,380,380
4,063,778
663,121
1 ,346,656
497,130
126,582
740,437
Cr.
97,886
5,464
76,902
19,950
419,452
29,250
437,719

89
90
76
92
18
47
31
31
44
40
48
92
70
40
64
86

$1,645,153
493,503
782,168
628,712
114.174

31
72
25
92
21

$1,186,742
204,329
424,088
140,636
121,565
164,736
131,384

19
82
99
90
70
35
43

$1,173,920
232,214
385,642
132,497
120,000
178,964
124,602

54
19
52
06
00
01
76

$12,821 65

6,781 67

1.09
12.01
9.97
6.14
1.30
7.95
5.44

$34,302,476 67

$3,545,230 33

10.34

General E x p e n se s--------------------------------------------Salaries of G e neral O fficers________________________________________
Salaries o f Clerks a n d A tte n d a n ts _________________________________
G eneral O ffice Expenses a n d S u p p lie s ____________________________
In s u r a n c e ______" _____________________________________________________
L a w E x pen ses-------------------------------------------S u n d r y G eneral E x p en ses__________________________________________
T otal .

$37,847,707 00

29,539 73
12,328
796
1,191
3,924
127,518

82
29
63
58
75

38,446 47
.8,139 84
1.565 70

4,880 29
85,996 20
142,872 21
316.189 36

8.30
182.9!)
39.88
28.98
11.43
18.62
2.86
107.21

84
31
24
67
72
47
74
90
65
34
79
01

62,049 52

68,755 61
29.096 19
39,538 79

15.59
.17
33.76
11.46
33.99

$9,596,006
144,972
736,290
1,543,170
351,392
665,583
5,345,242
114,947
8,423
350,097
19,300
316,585

M a in te n a n c e of E q u ip m e n t -------------------------- ------M e ch an ica l S u p e rin te n d e n c e ___________________________________
R e p a irs a n d R en ew a ls o f Passenger L o c o m o tiv e s ___________
R e p a irs a n d R en ew a ls o f F re ig h t L o c o m o t iv e s ______________
R e p a irs a n d R en ew a ls o f S w itc h in g L o c o m o tiv e s ___________
R e p a irs a n d R en ew als o f Passenger C a r s ___ '________________
R e p a irs a n d R en ew a ls o f F re ig h t C a r s _______________________
R ep a irs a n d R enew als o f W o r k C ars_________________________
R e p a irs a n d R e n e w a ls of M a rin e E q u ip m e n t ____________ ____
R e p a irs a n d R en ew als of S ho p M a c h in e ry a n d T ools_______
S ta tio n e ry a n d P r in tin g — M e ch an ica l D e p a r tm e n t__________
O th e r M e ch an ica l D e p a rtm e n t E x pen ses___________ ______

$3,723 31
493 02

24.54
3.55
18.09
11.48
12.92
.01
38.91
50.70
26.32
9.54
32.30
.41
8.86
17.26
10.60
15.47
17.22
.82
12.48
4.43
3.90
19.69
16.02
3.99
.28
13.42
29.13

7.085 83
568 97
257,301 63

98 64

11 .025 66
5,607 22
593.046 1 1
1,076 12
_________
__________

27,884 37

14,227 66

T ABLE NO. 5. -C O M PA R A T IV E STATEM ENT O F G E N E R A L O P E R A T IO N S F O R T H E Y E A R S E N D E D J U N E 30
1907 A N D 1906.
P e r Cent
of
Increase
or
Decrease.

Year E n d e d J u n e 30th.
1907.

1.20

4,423.87

M iles o f R o a d O p e ra te d _________________________________

Decrease.

M iles ru n b y F re ig h t T r a in s -----------------------M iles r u n b y Passenger T ra in s ________________________
M iles ru n b y M ix ed T ra in s _____________________________

17,846,876
12,077,885
283,303

17,209,387
11,388,699
430,192

637,489
689,186

3.70
6.05
34.14

146,889

T o ta l R e v e n u e T ra in M ile ag e ___________________________
M iles ru n by C o n stru c tio n T r a in s ----------------Miles ru n b y S w itc h in g E n g in e s ________________________
O th e r E n g in e M ile a g e ------ ------- -------------

30,208,064
650,697
7,670,293
1,114,955

29,028,278
628,099
7,083,530
1,148,275

1,179,786
22,598
586,763

4.06
3.60
8.28
2.90

U " 33.320

T o ta l E n g in e M ile ag e _______________________________

39,644,009

37,888,182

1,755,827

4.63

M ileage o f L o a d e d F re ig h t C a rs ________________________
M ileage o f E m p t y F re ig h t C a rs ________________________
T o ta l M ileage o f F re ig h t C a rs ___________________________
M ileage of Passenger C a rs _______________________________

370,906,909
121,188,516
492,095,425
62,770,118

353,282,478
125,524,204
478,806,682
59,301,108

17,624.431
13,288,743
3,469,010

4.99
3.45
2.78
5.85

N u m b e r of T ons o f R ev e nu e F re ig h t Can-led O ne M lle .
N u m b e r o f T ons o f C o m p a n y F re ig h t C arried O ne Mile
T o ta l N u m b e r of T ons o f F re ig h t C arried O n e M ile ___
N u m b e r o f Passengers C arried O n e M ile _______________

6,592,022,619
1,062,706,144
7,654,928,763
569,931.666

6,230,593,529
1,014,598,021
7,245,191,550
511,391,077

361,429,090
48,108,123
409,537,213
58,540,589

5.80
4.74
5.65
11.45




4,335,688

S e p t.

2$ 1907.]

THE CHRONICLE.

803
P e r Cent
of
Increase

Y e ar E n d e d J u n e 30th.

Gross Receipts;_____________________ _______________ ______
O p e ra tio n E x pen ses------------- ---------------Excess o l R e c e ip ts over O p e ra tio n E x pen ses, exclusive
o f T ax e s ______________________________________________

$56,610,633.16
37,847,707.00

851,636,405.16
34,302,476.67

$4,974,228.00
3,545,230.33

18,762,926.16

17,333,928.49

1,428,997.67

Gross R e c e ip ts per M ile of R o a d _________________________
O p e ra tio n E xpenses per M ile o f R o a d --------------Excess of R ec eipts over O p e ra tio n E xpenses, per Mile
of R o a d , exclusive o f T ax e s________________________

$12,952.10
8,659.28

$11,672.22
7,753.95

$1,279.88
905.33

4,292.82

3,918.27

$1.87 40-100
1.25 29-100

G ross Receipts) per R ev e nu e T rain M ile _________________
O p e ratio n Expenses per R e v e n u e T ra in M ile ------E xcess o f R ec eipts over O p e ratio n E x penses, per R e v 
enue T ra in M ile , exclusive o f T ax es-----------T ons of R e v e n u e F re ig h t C arried O n e M ile per M ile of
R o a d O p e r a te d ______________________________________ |
Passengers C arried O ne M ile pe r Mile o f R o a d O pe rated !

9.63
10.34

10.97
11.68

I

$1.77 88-100
1.18 17-100

$0.09 52-100
.07 12-100

.59 71-100

.02 40-100

5.35
6.03

99,803
14,798

1,408,403
115,598

1,508,206
130,396

Average. N u m b e r o f L o a d e d F re ig h t Cars in T r a in --A verage N u m b e r o f E m p t y F re ig h t Cars In T r a i n --- j
A verage N u m b e r o f T o ta l F re ig h t Cars in T r a in ----- j

20.46
6.68
27.14

20.03
7.11
27.14

A verage N u m b e r of T ons o f R e v e nu e F re ig h t in T r a in . I
A verage N u m b e r of T ons of C o m p a n y F re ig ht in T r a i n . ;
A verage N u m b e r o f T ons o f A ll F re ig h t In T r a in ----A verage N u m b e r o f T ons o f R e v e nu e F re ig h t in each!
L o a d e d C a r________________ __________ _______________ !
A verage N u m b e r o f T ons o f A ll F re ig h t in each Loaded:
C a r --- ------------- ----- ------------------A verage N u m b e r o f Passengers in T r a i n _______________ I

363.59
58.62
422.21

353.21
57.52
410.73

17.77

17.64

20.64
46.11

20.51
43.27

Decrease.

7.09
12.80
2.15
6.05

•

10.38
1.10
11.48

2.94
1.91
2.80

.13

.74

.13
2.84

.63
6.56

TABLE NO. 6.— R E C E IP T S A N D E X P E N S E S P E R M IL E O F R O A D , S H O W IN G A M O U N T , P E R CENT O F G R O S S
R E C E IP T S A N D P E R C E N T O F O P E R A T IO N E X P E N S E S F O R T H E Y E A R S E N D E D JU N E 30 1907 A N D 1906.

P e r Cent
of I n c .
or D ec.

Y e ar E n ded J u n e 30th.
I

1907.

Gross R e c e ip t* ■
_______ ___________ ______
F re ig h t
P a s s e n g e r - ..._____ _______________
M is c e lla n e o u s ............ ............... .........j

$8,701 73
2,559 63
1,690 74

$7,829 60
2,261 37
1,581 25

$872 13
298 26
109 49

T o t a l . . . _______ _______ _______ . |

$12,952 10

$11,672 22

$1,279 88

O p e ra tio n E xpenses—
M a in te n a n c e o f W a y & S tructures
M a in te n a n o e o l E q u ip m e n t ______
S C o n d u c tin g T ra n s p o rta tio n
G e n eral E x pen ses_________________

$1,567
2,195
4 ,624
271

56
50
70
52

$1,549
1,741
4,197
265

59
69
31
36

$17
453
427
6

97
81
39
16

$8,659 28

$7,753 95

$905 33

T a x e s . . ............................................ ........

$507 42

$482 61

$24 81

N e t R e c e ip ts _____ ___________________

$3,785 40

$3,435 66

$349 74

T o ta l

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

P e r Cent of O peration
E xpenses.

P e r Cent of Gross
Receipts.

AMOUNT.

Y e ar E n d e d J u n e 30th. Y e ar E n d e d J u n e 30tk.
, Decrease.

1906. 9*

11.14
13.19
6.92

67.2
19.8
13.0

67.1
19.4
13.5

1.16
26.06
10.18
2.32

12.1
17.0
35.7
2.1

13.3
14.9
35.9
2.3

18.1
25.4
53.4
3.1

20.0
22.5
54.1
3.4

11.

66.9

66.4

100.00

100.00

4 .1
29.2

29.5

T A B L E NO. 1.— C O M P A R A T IV E ST A T E M E N T O F T R A F F IC F O R T H E Y E A R S E N D E D J U N E 30 1907 A N D 1906
P e r Cent
I n c . or
D ec.

Y e ar E n d e d J u n e 30th.
1906.

1907.
T ons of R e v e n u e F re ig h t C a rrie d ________________ 1
26,922,868
T o n s o f R e v e n u e F re ig h t C arried O n e M ile ____ ;6,592,022,619
A verage D ista n c e H a u l o f O n e T o n _____________ 1
244.85 m iles
F re ig h t R e c e ip ts ____ __________ ___________________
$38,033,270.78
A verage R ec eipts per T o n _______
___
$1.41
A verage R e c e ip ts per T on per M ile _______________ i___________577-1000c
F re ig h t R e c e ip ts per M ile of R o a d .........................
$8,701.73
"M ile s R u n b y F re ig h t T r a in s ________ ___________
18,130,179
F re ig h t R e c e ip ts pe r T ra in M ile ____ . . . .
$2.09 78-100c
..................|
23,441,337
N u m b e r o f Passengers C arried N u m b e r C arried O ne M ile ------- --------- 569,931,666
24.31
A verage D is ta n c e T raveled by each P a s s e n g e r..
Passenger R e c e ip ts _________________ ______ _______
$11,187,532.59
____
$0.47
A verage F are ot each P assenger___
Average R e c e ip ts per Passenger pe r M ile ----- j
$0.01
P assenger R ec eipts per M ile of R o a d ___________
$2,559.63
Gross R e c e ip ts of Passenger T r a in s _____________ | $13,664,867.02
Gross R e c e ip ts o f Passenger T rain s per M ile ot
$3,126.42
R o a d ________________________________ __________
12,361,188
‘ Miles R u n b y Passenger T r a in s ________________ _
$1.10
R ec eipts ot Passenger T rain s per T rain M ile ---

m iles
73-100c
963-1000c

55-lOOc

25,641,146
6,230,593,529
242.99 m iles
$ 34,637,124.39
$1.35
556-lOOOc
$7,829.60
17,639,579
$1.96 36-lOOc
22,052,673
511,391,077
23.19 m iles
$10,004,041.27
$0.45 36-100c
$0.01 956-lOOOc
$2,261.37
$12,625,392.20
$2,853.92
11,818,891
$1.06 82-lOOc

1,281,722
361,429,090
1.86 m iles
$3,396,146.39
$0.06
21-100C
$872.13
490,600
$0.13 42-100c

5.00
5.80
.77
9.80
4.44
3.78
11.14
2.78
6.83

1,388,664
58,540,589
1.12 m iles
$ 1,183,491.32
$0.02 37-100c
7-1000c
$298.26
$1,039,474.82

6.30
11.45
4.83
11.83
5.22
.36
13.19
8.23

$272.50
542,297
$0.03 73-100c

9.55
4.59
3.49

I

In c lu d e s M Heage o f M ix ed T ra in s .

T A B L E NO, 8 .— STATEM ENT O F S E R V IC E R E N D E R E D TO T H E P U B L IC B Y T H E R A IL R O A D C O M P A N Y IN
T H E T R A N S P O R T A T IO N O F P A S S E N G E R S A N D O F R E V E N U E F R E IG H T , A N D O F SUCH S E R V IC E P E R
M IL E O F R A IL R O A D O P E R A T E D IN E A C H Y E A R , F R O M J U L Y 1 1897 TO JU N E 30 1907.
Service Rendered to the P u b lic .

Y utrt, Hhmled J u n e 30th.

1903
1904
1905
1 906
1907

Increase over
U n its of service
N u m ber of pas N u m ber of tons rendered (being the preceding year,
of revenue freight sum of the figures in u n its of ser
sengers carried
carried one m ile.
given in the two
vice rendered.
one m ile.
preceding columns)

...................... ............... ...............
.......................................... ..
...........................................
-____ , ...................... ........................
..................................... ...........

263,336,693
268,589,994
305,643,549
373,919,236
401,309,425
455,432,129
485,092,114
583,481,895
511,391,077
569,931,666

2,722,540,585
2,799,941,184
3 ,425,794,698
4 ,016,085,602
4,452,073,927
5,176,543,778
5,221,132,514
5,559,139,454
6,230,593,529
6 ,592,022,619

2 ,985,877,278
3,068,531,178
3,731,438,247
4,390,004,838
4,853,383,352
5,631,975,907
5,706,224,628
6,142,621,349
6 ,741,984,606
7,161,954,28p

In cre a se Id 1907 over 1898............

306,594,973

3,869,482,034

4,176,077,007

2.1643

2.4213

2.3986

1898
........................................
1899
______
1900 . . .........................................................
190 1
___________ _____________

R a tio o f th e service rendered In 1907
to t h a t rendered in 1898 ________




Service Rendered

82,653,900
662,907,069
658,566,591
463,378,514
778,592,555
74,248,721
436,396,721
599/363,257
419,969,679

M ile s of
R a ilro a d
operated.

U n its of set
vice rendered
per m ile ' f
R a ilro a d
operated.

3,774.85
3,670.80
3,845.43
4 ,214.92
4,276.23
4,292.98
4,340.35
4,373.91
4,423.87
4,370.77

790,992
835,930
970,357
1,041,539
1,134,968
1,311,904
1,314,692
1,404,378
| 1,524,002
( 1,638,602

595.92

847,610

1.1579

2.0716

Increase over
preceding year
in u n its of
service ren
dered per m ile
of R a ilro a d
operated.
44,938
134,427
71,182
93,429
176,936
2,788
89,686
119,624
114,600

I ........................-

THE CHRONICLE.

804

[V o l .

lxxxv

.

T A BLE NO. 9.— C O M P A R A T IV E STA TEM ENT O F M A IN T E N A N C E O F W A Y A N D S T R U C T U R E S , JU L Y 1 1897
TO J U N E 30 1907.

Years
ended
J u n e 30 th.

1 8 9 8 ..- .189 9
190 0
190 1
190 2
190 3
190 4
190 5
190 6
190 7

M A IN T E N A N C E O F W A Y .

Average
Miles
of
Road
Oper
ated.

Labor
on
Track.

3,774.85 $1,687,860
3,670.80 1,778,982
3,845.43 2,213,422
4,214.92 2,259.774
4,276.23 2,485,079
4,292.98 2,452,529
4,340.35 2,320,589
4,373.91 2,141,306
4,423.87 2,487,704
4,370.77 2,657,923

Amount
Charged
to
Renewals
of Rails.

Tons oi
Mac
R ails.

56 31,325.40 5290,868
2021,182.00 185,026
1834.613.76 373,674
74 30,009.38 476,293
77 25,916.00 274,030
9931,657.00 416,538
48 24,037.00: 300,659
4132,351.00 457,143
77 25,754.00 392,847
6521,006.00 249.975
1
L •

Amount
Charged
to
Renewals,
of Ties.

N o.
of
Ties.

61 1,603,632 $535,778
90 1,344,258 438,833
76 1,617,759 539,620
39 1,987,356 652,787
64 1,832,429 588,697
75 1,086,693 385 405
83 1.563.898 674^271
71 1,914,801 786,626
42 1.635.899 743,861
21 997,349 427,572

Repairs
of
Bridges.

j Expense
Mileage Sper mUe

Other
Items.

of
) run by
Engines. Engines.

Total.

Repairs
of
Fences.
1

16j$5S2,777
14 637,412
50! 858,391
10‘ 795,006
29’ 657,328
14! 624,522
75 546,655
30' 708,588
60i 758,900
24 S77.978

52
81
51
86
S7
28
14
87
76
23

$737,696
769,192
1,031,765
983,411
919,431
1,258,962
1,131,076
1,279,233
1,610,007
1,486,239

Repairs
o1
Buildings
Water
Works
and
Telegraph.

1 Malntenance of
Wag and
j Struc, tuns per
j MUe
Operated.

30 $3,834,t»87 1528,565,183 13.43c. $11,186 56 $379,050 93 $1,127/26
90 3,809.448 0129,514,549 12.9le. 53,576 65' 420,472 26 1,166*91
71 5.016,874 6633,711,198 14.88c. 86,582 60 465,239 53 1,448113
89 5,167,273 9837,170,284 13.90c. 83,706 57 609,836 97 l,390j49
53 4,924,568 1035,293,290 13.95c. 73,103 77 651,971 32 1.321J17
31 5,137,958 4738,001,938 13.52c. 78,164 15 693,073 13 1,376148
04 4,973,252 2439,254,261 12.67c. 71,904 99 634,153 63 1,308 49
66 5,372,898 9537,313,307 14.40c. 76,052 01 646,145 22 1,393 51
57 5,993,322 12 37,888.182: 15.82c. 84,321 79 777,529 17 1,549 59
07 5,699,788 4039,644,009 14.38c. 84,180 701067,480 67 1,567 56
1
1
*

T A BLE NO. 11.— C O M P A R A T IV E STA TEM EN T O F R A IL S IN M A IN T R A C K , J U N E 30 1907 A N D 1906.
M ileage.
W eight.

J u n e 30th.

50-lb.
52-lb.
54-lb.
56-lb.
5 8 ^ - lb .
60-lb.
61 yt -\
b.
67-lb.
70-lb.
75-lb.
85-lb.
100-lb.

A verage W e ig h t pe r Y a r d of a ll R a ils in M a in T rack _______

_

_________________

Increase.

1907.

1906.

11.62
79.69
4.83
229.21
1.55
902.79
33.74
108.38
234.13
1,345.85
2,146.03
2.34

11.62
80.68
4.83
253.98
4.18
996.70
34.31
108.38
252.52
1,442.05
1,988.94
2.57

5 ,100.16

5,180.76

74.77

__

!

9.65

Decrease.

.99
" 24.77
2.63
93.91
.57
’ 18.39
96.20
157.09
.23
80.60

74.08

fin

9.21

.44

T A BLE NO. 1 5 — C O M P A R A T IV E STA TEM ENT O F R E V E N U E F R E IG H T C A R S A N D T H E IR C A P A C IT Y IN TONS
J U N E 30 1907 A N D 1906.
J u n e 30th.
1907.
Class of C ars.

_____ ______ -.
F r u it
R e frig e ra to r____________
T ank

___________________

T o ta l_______

______

Increase.

1906.
Average
Tonnage N u m ber
C a p a c ity ,
per C a r.

Average
Tonnage
C a pac ity
per C a r.

N u m ber

C apacity
i n Tons.

28,320
953
1,376
2,941
20,381
2,973
5

1,006,992
27,565
39,245
85,954
790,324
112,573
200

35.56
28.92
28.52
29.23
38.78
37.87
40.00

27,774
1,045
1,421
2,968
19,520
2,842
5

946,163
29,610
40,925
86,644
728,143
101,488
200

34.07
28.33
28.80
29.19
37.30
35.71
40.00

56,949

2,062,853

36.22

55,575

1,933,173

34.78

C apacity
i n 2'ons.

N u m ber

546

C apacity
i n Tons.
60,829

Decrease.
Average
Tonnage
C apacity
per C a r.

N u m ber

1.49
.59

861
131

62,181
11,085

.04
1.48
2.16

1,374

129,680

1.44

92
45
27

Average
Tonnage
C a pac ity
per C a r.

C apacity
in Tons.

2,045
1,680
690

28

T A BLE NO. 1 6 — STA TEM EN T O F M A IN T E N A N C E O F E Q U IP M E N T IN E A C H Y E A R F R O M J U L Y 1 1897 TO
J U N E 30 1907.
R E P A IR S A N D R E N E W A L S .
Passenger Cars.

Engines.

Freight Cars.
-|

Years ended
Ju n e 30 th.

18 98

1900
1901
1902
1903
1905

N o.

Amount.

754 $1,242,054
763 1,318.889
813 1.405,914
891 1,567.527
947 1 866.191
1003 2,206,127
1086 2,668,919
1158 2,500.422
1193 2,318,908
1240 2,630,853

N o.
64
68
93
70
15
52
44
38
98
63

651
653
696
725
726
753
787
802
813
859

Amoun:.
$299 186
262,327
279,859
357,520
534,790
566,182
541,821
610.583
665,682
065.583

N o. j

Amount.

Maintenance o) Equipment
Per
Per
Per
Pass’nger Freight
Engine
Car
Car
MUe.
M ile .
MUe.

M a in 
Other
tenance
Equipment
Shop
Expenses,
Machinery Including
and
Super
Tools.
intendence.

74 28719 $1,302,486 36 4 35-100c 86-100c 41-100c $103,430
74 30238 1,338,471 17 4 47-100c 73-lOOc 42-lOOc 102,951
4533410! 1,690,936 954 17-100c! 72-100c 46-100c 121,256
57 38960' 2,083.544 293 92-100c 69-lOOc 50-100c 143,755
82 42888! 2,482,034 69 5 29-lOOc 1 2-100e 61-lOOc 171,108
77 52556 2,875,200 90 5 81-lOOc 1 3-100c 64-100c 256,454
29 55022 3,352,275 22 6 8 0 -10 0 C 96-100c 73-100c 292,608
96 56529 3,874 257*15 6 86-1000 1 l-100c 85-]00c 275,546
lli58253l 3,924 296 95 6 12-lOOc 1 12-100c 82-lOOc 319,598
47 59977! 5.460,190 64 6 64-100c 1 6-100c 1 11-lOOc 350,097

27 $158,256
94 157,561
92 169,322
76 201,961
12 237,348
84 345,472
98 418,216
95 459,751
02 469,873
34 480,858

M a in 
tenance
M arine
E quip
ment.

31 $27,305
53 15,734
66 7,891
05 16,932
85 18,312
46 25,148
98 49,501
78 24,247
75 6,668
11 8,423

Per MUe of
Road
Operated
(excluding
M arine
Equipment')

Total.

31 $3,132,719
50, 3,195,9:i6
29, 3,675.182
44 4,371,241
90 5,309.786
11 6,274,586
22 7,323.343
69 7.804,810
35 7,705,028
65 9,596.006

63
56
20
81
53
60;
13
21
16
84

*822
866
953
1,033
1,237
1,455
1,675
1,778
1,740
2,193

66
35
68.
07
42
73
87
86
19
57

T HE Y A ZO O & M IS S IS S IP P I V A L L E Y R A IL R O A D COM PAN Y.
T W E N T Y - S IX T H A N N U A L R E P O R T — F O R T H E F ISC A L Y E A R E N D E D JU N E 30 1907.
The num ber of miles of railroad operated by The Yazoo & Mississippi Valley Railroad Com pany on June 30 1907 wa
1,239.14. No additions were made during the year.
The average number of miles of railroad operated by this Company during the year was 1,239.14 against 1,211.20 for
the previous year.
The following is a sum mary of the Com pany’s business for the year:
Gross R e c e ip ts fro m T r a ffic ----------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- --------------------- $ 9 ,4 0 9 6 5 9 3 9
E xpenses o f O p e ra tio n — ...................................-...........................-............. ...................... .......................................................................................... . $ 7 , 6 7 9 , 7 2 0 0 0
T a x e s ......................................................... -................................................................................................. -............................................... ..........................
3 9 3 ,2 5 5 0 8 8 ,0 7 2 ,9 7 5 08
In c o m e fro m T ra ffic , being- the excess o f Gross R ec eipts over E xpenses of O p e ra tio n a n d T ax e s.................................................................................... * 1 , 4 2 6 . 6 8 4 3 1
In te re s t collected o n in v e s tm e n ts ----------------------------------------------------------------------------- ------ -------- ----’ 1 ,7 5 0 0 0
Excess of In c o m e over E xpenses o f O p e ra tio n a n d T ax es___ ______ _______________________________________ ____________________ ______ _______ _________51,428,434 31
F ro m th is there has been p a id , fo r Interest on:
5 2.8 00 .00 0 00 Y . & M . V . 5 % F irs t M ortgage B o n d s ...........................................................................................................■..................................*140,000 00
13,598,685 36 Y . & M . V . 4 % Im p r o v e m e n t B o n d s _____________________________________________________________________________________ 543,947 42
16.832.000 00 L . K . O . & T . 4 % F irs t M o rtg age B o n d s _______________________________________________________________________________
673,280 00
T o ta l o f A b s o lu te ly F ix e d C harges — . _________________________________________________________ ______________________________________ ___________ _____
S u rp lu s J u n e 30 1907 over a ll A b s o lu te ly F ix e d C h a r g e s . . . . . . ............................ ............... ................. ..................................... ................................. .............




1,357,227 42
*71,206 89-

*05

THE CHRONICLE

S e p t . 28 1907.J
As compared with the preceding year:

The average n u m b e r o f m ile s o f ra ilro a d operated in cre ased-----------------------------------------------------27.94
Gross R eceipts fro m T raffic in cre as e d__________________________________________________________ _______ ; --------------------- $ ° “ °>4J8
Expenses o f O p e ra tio n In crea sed____________________________________________________________________________________________________
^ 4 ,1 0 0 0 *
Taxes Increased
_ __________________________________________ ______ _________________________ ____________________ ___
Excess o f Gross R eceipts from T raffic over O p e ra tio n Expenses a n d Taxes i n c r e a s e d ----------------------- ------Excess of In co m e over E xpenses of O p e ra tio n a n d Taxes in cre ased ---- ----- ------------------------------------ *- 114,-75 33
72,686 4^
T o ta l of A b s o lu te ly F ixed Charges in cre as ed________________________________________________________________________________ _____
T he S u rp lu s fro m the y ear's e a rn in g s Increased----- ------------------------------------------------------------4 l,o 8 8 J i

2.31 p e r ce a
9.
9..87
0.
5.72
S.70
>.66
).42

The following table shows the results of the Company’s business in each of the past fifteen years:

Years E nded
J u n e '60th.

1893
1894
1895
1896
1897
1898
1899
1900
1 90
1902
1903
1904
1905
190
1907

___________

___________
_________
....................
1
... - ...
____________
6
_

____

Average
N u m ber of
M ile s
Operated.

807.27
807.27
807.27
807.27
807.27
807.27
954.80
1,000.68
1 ,056.51
1,095.32
1,162.34
1,173.11
1,204.00
1,211.20
1,239.14

Gross Receipts.

$3,319,131 04
3,338,859 50
3,331,334 58
3 .936,513 20
4,775,047 53
4,576,349 72
5,300,889 55
0,127,941 75
6,587,355 80
7,330,085 27
7>868,334 84
8,070,245 40
8,071,250 83
9,499,059.39

Expenses
of
O peration.

$2,463,053
2.280,370
2,290,207
2,234,025
2,550,033
3,003,975
3,162,542
3,217,796
3,757,895
4,422,074
5,370,207
5,754,580
0,388,874
0,989,916
7.079,720

47
20
50
51
98
12
37
24
82
39
12
70
58
14
00

Taxes fo r the
C urrent Year.

$96,337
89,091
90,058
103,708
124,982
142,044
156,473
177,917
300,355
282,262
302,952
341,031
303,388
309,006
393,255

89
40
53
84
09
26
10
26
96
28
66
45
83
01
08

Excess of Gross
Receipts from
T raffic over E x 
penses of Opera
tion a n d Taxes.

$759,139
969,397
951,068
1,191,290
1,260,897
1,509,028
1,257,334
1,905,170
2,069,689
1,882,419
1,650,925
1 ,772,710
1,917,981
1,312,208
1,426,684

68
90
55
75
13
15
25
05
97
13
49
09
99
68
31

Total Incom e,
In c lu d in g
1 nterest on
Investments.

$781,693
973,028
955,623
1,191,359
1,260,964
1,509,234
1,257,001
1,905,539
2,070,385
1,930,171
1,696,717
1,776,274
1,920,828
1,314,158
1,428,434

02
85
98
72
00
19
53
49
27
14
89
80
66
98
31

F ix e d Charges,
Exclusive of I n 
terest on Second
M ortgage In com " S u r p lu s over
A ll Absolutely
Bonds and on
L a n d G runt I n  F ix e d Charges.
come B onds of the
L.N .O .& , T.Ry.Co.
$774,412
754,495
693,722
690,522
690,522
785,202
916,680
946,240
1,004,306
1,004,417
1,136,110
1,197,658
1,265,185
1,284,541
1,357,227

50
10
72
72
72
72
00
00
30
30
62
92
50
00
42

$7,280
219,133
201,901
500,837
570,441
784,031
340,921
959,299
1,006,078
865,753
560,607
578,615
655,643
29,617
71 .200

52
75
26
00
28
47
53
49
91
84
27
88
16
98
89

The surplus here shown is stated w ithout the paym ent of any interest on either the Second Mortgage Bonds or the L and
Grant Income Bonds of the Louisville New Orleans & Texas Railw ay Company, of which $9,104,000 and $10,000,000 are
respectively outstanding.
The mortgage given in 1886 to secure the Second Mortgage Bonds provides th a t interest is only to be paid on them
when it shall be earned and so determined and declared by the Board of Directors, b u t th a t such interest shall be cum ulative,
and in case less than two and one-half per centum be paid in any half year, the unpaid interest, with interest on such unpaid
interest at the rate of live per centum per annum shall be carried forward to the credit of the bonds for subsequent paym ent
as such net earnings shall suffice for. or at the m atu rity of the bonds.
The Louisville New Orleans & Texas R ailw ay Com pany permitted the interest on these bonds to accumulate until the?
autum n of 1892, when th a t Company was merged into the Yazoo <fc Mississippi Valley Railroad Company. Since then, in
each of the fiscal years ended June 30 1893, 1894, 1895, 1896, 1897, 1898, 1901, 1902 and 1903, payments ranging from$198,451 to $1,016,078 91 have been made on account of interest due thereon. The arrears of interest due and unpaid
upon these bonds am ounted on June 30 1907 to $7,361,230 22.
No interest has ever been paid on any part of the $10,000,000 of L and G rant Income Bonds of the Louisville New
Orleans & Texas R ailw ay Company.
By Resolution of the Board of Directors, the Surplus Income of the year ended June 30 1907 over all absolutely Fixed
Charges, am ounting, as shown above, to $71,206 89, will be transferred to Profit and Loss.
IN S U R A N C E F U N D .
j
There has been added to the Insurance Fund:
Through monthly charges to Expenses of Operation_________________________________________________ ________________________ SCO,000 Ofr
Through collections for credit of the Fund__________________________________________________________________________________
9 525 07
Total additions to the Fund during the year------------------------------------------------------------- $69,525 07
Balance brought forward June 30 1900________________ ______ _____________ ---------------------------------97,646 02
Total available. ..... ........ ---- ------------------- __ --- -------- ------------------------ -------$167,17109'
There has been charged to the Fund. lor losses on account of freight In cars, on the wharves and In the warehouses at Stuyvesant
Docks, New Orleans, La., February 26 1905------- ----- ----- ----------------------------------- $20,814 41
and for losses by fire which occurred during the year now under report--------- ----------------------------- 33,440 04 54,254 45
Leaving at credit of the Insurance Fund June 30 1907______________________________________________________________ ____ ____ $112,916 641
Full settlement has now been made of practically all of the claims arising out of the fire on February 26 1905. I t is
gratifying to note th a t the fire losses which occurred during the year were less than in the year preceding, and also less than
the contribution made to the Fund through m onthly charges to Expenses of Operation.
P E R M A N E N T IM P R O V E M E N T S C H A R G E D TO C A P IT A L .
As shown in Abstract A , and in greater detail in Table No. 1, the sum charged during the year to Permanent Im prove
ments, including Advances on Lines under Construction, has been $1,029,168 20.
Four Per Cent Gold Im provement Bonds of the Yazoo & Mississippi Valley R ailroad Com pany have been issued to
this am ount and sold at par.
SIDINGS.
’
•)
There were 27.10 miles of additional sidetracks completed. The am ount expended for sidetracks during the year
was $155,664 35.
BALLASTING.
In new ballast work 115.710 yards of gravel were placed under track, for which there was expended $30,677 59.
ADVANCES ON LINES UNDER CONSTRUCTION.
The advances made during the year on new lines or branches in Mississippi have been as follows:
Mattson to Hendon..................................................................... -..................... ..................................... .................................... ......
$3,789 56
Yarborough to Swan Lake........................................................................ .................................. .................. .................. ......................
9.260 08
Lake View to Tennessee State Line....... ........... -...........................................................x............. ...... .................... ........ .......................
16,097 82
Philipp to Charleston_______________________________________ _____________________________________________________________ 189,002 71
Silver City to Kelso.................................................................................................................. ............................................................. 229,231 24
Total............................... _................................................................................................................................................. ...........-$447,381 41
The sums here given do not include advances made in previous years, or any charges for interest, for the transportation
of materials over the Yazoo & Mississippi Valley R ailroad, or for the use of its equipment, but merely the cash outlay during
the year ended June 30 1907.
GENERAL REM ARKS.
The Gross Receipts from traffic during the year were $9,499,659 39, an increase of $828,408 56, or 9.55 per cent over
the previous year. The net Receipts, after deducting Operating Expenses and Taxes, were increased $114,415 63 over
last year.
The tons of revenue freight carried increased 605,919, or 13.84 per cent. The average receipts per ton mile decreased
from 8.24 mills to 7.50 mills, or 8.9S per cent. This is due to a greater tonnage of low-grade commodities carried this year.
The expenses of operation exceeded those of the preceding year.
In Maintenance of Way and Structures b y ............................................................................................................... $29,207 80 or 1.33 per cent
In Maintenance of Equipment by__________________ ______________________________________________________ 315,677 86 " 30.42
In Conducting Transportation by........................... -........................................................................... ........ ............. 333.721 02 " 9.59
In General Expenses b y ............................................ ..................................................................................... .......... 11,197 18 *' 3.98
Making the total Increase In expenses of Operation, exclusive of Taxes____________________ ______________________ $689,803 86 "
9.87
The policy of im proving standards of maintenance has been fully maintained. During the year 6,641 tons of new
rail were laid at a cost of $128,442 86. as compared with 9,482 tons, costing $206,648 69 in the preceding year. The average
weight of all rails in main tracks was increased from 65.35 lbs. per yard to 66.51 lbs. per yard. There were laid 337,041
ties, at a cost of $142,980 00, as compared with 436,006 ties, costing $168,634 29 the preceding year.
The cost of Maintenance of W ay and Structures per mile of road operated this year was $1,792 81, as compared with
$1,810 06 per mile in the preceding year.




THE CHRONICLE.

806

[V o l . i i x x x v .

The increased cost of maintenance of E quipm ent was due to increased outlays in repairs and renewals of freight cars,
which am ounted to $764,809 42 this year, as compared with $566,969 85, an increase of $197,839 57, also to an increase
in wages and the cost of material and supplies. The cost of maintenance of equipment per mile of railroad (excluding
marine equipm ent) has this year been $1,085 69, as compared with $854 88 per mile in the preceding year.
The increase in the cost of Conducting Transportation of $333,721 02 was due to a natural increase in biasiness. and
to an increase in wages and the cost of material and supplies.
The increase in General Expenses is due to an increase in General Office forces, law expenses and increased cost of
pensions.
The Expenses of Operation exclusive of taxes, am ounted to $7,679,720 00 and consumed 80.842 per cent of the Gross
Receipts.
The Expenses of Operation, including Taxes, am ounted to $8,072,975 08, and consumed 84.982 per cent of the Gross
Receipts.
The service to the public has continued to increase, as is shown in the following table:
N o . of passengers
carried one m ile.

Years ended J u n e 30th.

Tons of freight car
ried one m ile.

U n its of service rendered (being the su m o f the figures
given in the two preceding c olum ns).
A m o u n t.

1900
1901
1902
1903
1904
1905
1906
1907

_

- __
---- . ________ ____________
-____
- - _____________ ______ . .
____ ___
_______________ - ______
-----_ _____ ______________ - ____
-----____ _
. ____
________
- ______________________ ______
. _
- - ____________
- . _ _________ ___________
____
-

-

_
-

42,534,812
55,347,045
57,353,516
62,997,133
71,187,410
79,199,916
64,780,549
79,557,365

417,074,552
523,508,874
525,859,072
651,832,148
676,085,928
690,867,621
775,369,968
918,668,142

459,609,364
578,855,919
583,212,588
714,829,281
747.273,338
770,067,537
840,150.517
998,225,507

37,022,553
87.04

501,593,590
120.26

538,616,143
117.19

1 Increase over precedhiq gear.
A m o u n t.

.

P e rc e n t.

119,246,555
4,356,669
131,616,693
32,444,057
22,794,199
70,082,980
158,074,990

s

25.95
2 2 .57
4.54
3.05
9.10
15.84
:—

The General Balance Sheet, the abstracts explanatory thereof, and the tables subm itted herewith, give in greater detail
the results of the year’s business.
The crops now being gathered in the territory served by your railroad are abundant and there is every reason to expect
good results from the year which is now opening.
The thanks of the undersigned are, as ever, due and gladly tendered to the officers and men in every branch of the
service.
Respectfully submitted,
J. T. H A R A H A N .
Chicago, September 11 1907.
President.

G E N E R A L BA LANCE SH EET .
Abstract.
>. A

R o a d a n d E q u ip m e n t-

$00,657,160 66

F
M a te ria l a n d S u p p lie s -

563,508 63

A d v a n ce s on A c c o u n t R a ilro a d s in
C o n s tru c tio n —
M e m phis & S ta te L in e R R . —
E tte rs to M ississippi S tate Line
M e m phis R R . T e rm in a l C o_.

F
F
F

5252,564 94
120,000 00

Assets in In sura n ce F u n d
Assets in P ension Fund- -

112,916 64
50,000 00

C a p ita l S to c k _____________________
F u n d e d D e b t—
5 % F irs t M ortgage G o ld B on ds of
1952— ( Y . & M . V . R R . C o .). 4 % G o ld Im p ro v e m e n t B on ds a n d
S crip of 1934— ( Y . & M . V . R R
C o .)_________ ____________________
4 % F irst M ortgage G o ld B o n d s of
1934— (L . N . O . & T . R y . Co.)
5%
Second M ortgage
In co m e
B on ds of 1934— (L . N . O . & T.
R y . C o .) -------------------6 % L a n d G r a n t In co m e B onds of
1934— (L . N . O . & T . R y . C o.) _

$e.toe.400 oo
$2,800,000 00
14,627,853 56'
16,832,000 00
9 ,104,000 00
10 ,000,000 00
0.1.363,853
1,401,493
659,486
112,916
50.000

N et L ia b ilitie s - P rofit a n d Loss .
In sura n ce F u n d
P ension F u n d --

$61,756,150 87

5*
76
01
64
00

$& l,r5 6 ,1 5 0 87

AB ST RACT A .— R O A D A N D E Q U IP M E N T .
C ost*of R o a d a n d E q u ip m e n t to J u n e 30 1906___________________________ ______ __________ ______ ___________ _______________ ___________ ___________ $5»j627.992 40
1,029,168 20
A m o u n t E x p e n d e d d u r in g the Y e a r , as show n in T able 1, P age 8 _________________________________________ _______________________________________
C ost o f R o a d a n d E q u ip m e n t , as per G eneral B a lan c e S h e e t_________________________________________________________________________________ 360,657,160 $6

'

AB ST R A C T C .— ASSETS A N D L IA B IL IT IE S .

A SSETS.

L I A B IL IT IE S .

B ills R e c e iv a b le ------------- v---- ----- ----D u e fro m A g e n ts ____________ ______ _______________
D u e from S o lv e n t C o m p a n ie s a n d In d iv id u a ls-

$8,958 0 0 i!P a y a b le on D e m a n d 216 ,797 17 j A u d ite d V ouchers—
4,004 05 :
V ouchers A u d ite d p rio r to J u n e 1 1907
V ouchers A u d ite d fo r J u n e 1907 ____

$23,503 23
111,752 08
J l« » ,2 5 5 3 i

W ages a n d S alarie s—
D u e p rio r to J u n e 1 1907
D ue fo r m o n th o f J u n e 1907-

B a la n c e — N e t L ia b ilitie s _

N e t T raffic B alances d u e to o th e r C o m p a n ie s . P a y a b le a t F u tu re D ate s—
In te re s t on F u n d e d D e b t accrued to J u n e 30
1907, b u tp a y a b le a fte r J u ly 1 1907________ $236,093 34
217,774 89
F u n d for R e n e w a l o f E n g in e s a n d C ars----19,885 21
F u n d fo r A u to m a tic C ouplers a n d A ir B rakes
3,000 00
F u n d fo r R e n e w a l o f M a rin e E q u ip m e n t --O th e r A c co u n ts P a y a b le _______________________ 712,077 43

»,1 ««J350 87

1.401,493 76

T o t a l_______________ ______ - ..................................... ...................... $1,631,252 98

306 .167 8?
10,998 a :

T o ta l..................... ......................................-......................................i l . m i . t 5 Z 98

A BST RACT E .— A P P L IC A T IO N O F IN C O M E .
D R . IT E M S .
N e t R eceipts D u r in g the Y e a r E n d e d J u n e 30 1907—
F ro m th e O p e ratio n of the R a ilr o a d , as show n in A b s tra c t GIn te re s t o n Securities O w n e d ---------------------------------

$1,426,684 31
1,750 00

A v a lfa b le for In te re st on B on ds .
C R . IT E M S .
In te re s t p a id D ecem ber 1 1906 a n d J u n e 1 1907 on $2,800,000 Y . & M . V . F irst M ortgage 5 per c en t B o n d s ..................... ........
In te re s t p a id J a n u a r y 1 a n d p a y a b le J u ly 1 1907 on $13,598,685 36 Y . & M . V . 4 per c e n t Im p ro v e m e n t B o n d s a n d S c r i p ,.
In te re st p a id Septem ber 1 1906 a n d M arch 1 1907 on $16,832,000 L . J f. O . & T . F irs t M o rtg age 4 pe r c e n t B o n d s _________
B a lan c e (to be carried to P ro fit a n d L o s s).




31

$140,000 00
543,947 42
673,280 00
$1,357,227 42
71,206 8 9 | $ » ,*e ,'1 3 4 31

S e p t . aa§*

807

THE CHRONICLE.

190 <. j

T A B L E NO. 1.— P E R M A N E N T IM P R O V E M E N T S .
............ .....1
C o n s tr u c tlo * —

' 1
$1,014
157,948
78,014
25. 367
10,120
10,830
732
155,664
30,677
32.046
531
61,810
17,026

N e w Lines—

$3,789
9,260
16,097
189,002
229,231

50
08
82
71
24

62
89
89
75
69
51
30
35
59
31
30
81
78

447,381 41
$1,029,168 20

*

T A B L E NO. 3.— C O M P A R A T IV E STATEM ENT O F R E C E IP T S F O R T H E Y E A R S E N D E D
JU N E 30 1907 A N D 1906.
Y e ar E n ded J u n e 30th.

F r e ig h t ......................
P assenger _________
M a il_________________
E x pres s___________ -.
Excess B aggag e____
T ra in P riv ileg e s____
R e n t of P ro p e rty
T elegraph _________
S torag e ____________
S w itc h in g (balance)
D em urrag e -----M isc ellan eou s- _____

56,891,204 77
1,964,573 29
130,495 21
181,252 36
20,717,32
14,468 96
117,151 16
5,805 96
23,895 74
44,140 04
18,000 75
87,953 83

$6,391,646
1,613,412
125,536
251,362
18,407
12,818
92,794
7,591
18,398
37,657
14,364
87,261

T o ta l _________

$9,499,659 39

TABLE

N O . 4.— C O M P A R A T IV E

STATEM ENT

P e r Cent of
Increase
or Decrease.

1900.

1907.

58
00 .
02
73
17
98
56
31
48
20
00
80

$499, 558 19
351, 161 29
4, 959 19

26
84
75
03

7.82
21.77
3.95
27.89
12.55
12.87
26.25
23.52
29.88
17.22
25.32
.79

$8,671,250 83

$828,408 56

9.55

O F O P E R A T IO N

EXPENSES

2, 3 1 0 1 5
1, 649 98
24 356 60
5 ,497
6 ,482
3 ,636
692

FOR

$70,110 37

1,785 35

THE

Y E A R S E N D E D J U N E 30 1907 A N D 1906.
Y e ar E n d e d J u n e 30th.
1907.
M a in te n a n c e o f E q u ip m e n t ____________ _______ ______
________ _ .
C o n d u c tin g T ra n s p o rta tio n
___ . . . .
.......
G eneral Expenses_
_______
___
.
.
. .
._
T o ta )

___, ____

__________ ________ __________

_
_

___ __

$2 221,546
1,353,323
3,812,619
292,230

_

. . . .

_____________

Increase.

1906.■
53
65
77
05

$2,192,338
1,037,645
3,478,898
281,032

$7,679,720 00

T A B L E NO. 5.— C O M P A R A T IV E STA TEM EN T O F G E N E R A L

73
79
75
87

$6,989,916 14

O P E R A T IO N S

$29,207
315,677
333,721
11,197

P ercent
of Incre'se

80
86
02
18

1.33
30.42
9.59
3.98

$689,803 86

9.87

FOR

THE

Y E A R S E N D E D JU N E 30 1907 A N D 1906.
Y e ar E n ded J u n e 30th.
1907.
M iles o f R o a d O pe rated
Miles ru n b y F re ig h t T r a i n s ______
M iles ru n by Passenger T r a i n s ___
M iles ru n b y M ix ed T r a i n s _______
T o ta l R ev e n u e T rain M ile a g e ____
M iles ru n b y C o n stru c tio n T ra in s .
M iles ru n by .Sw itching E n g ine s .
O th e r E n g in e M ile age_____________
T o ta l E n g in e M ileage _______

P e r Cent of
Increase,
or Decrease

1906.

1,239.14

27.94

2.31

2,638,484
1,855,985
253,864
4,748,333
424,994
1,112,972
93,785
6,380,084

2,514,245
1,541,428
236,296
4,291,969
396,482
1,066,490
101,839
5,856,780

124,239
314,557
17,568
456,364
28,512
46,482
523,304

4.94
20.41
7.43
10.63
7.19
4.36
7.91
8.94

54,132,466
13,664,677
67,797,143
9,920,826

50,734,578
13,333,717
64,068,295
8,238,322

3,397,888
330,960
3,728,848
1,682,504

6.70
2.48
5.82
20.42

N u m b e r of tons o f R ev e n u e F re ig h t C arried O ne Mile
918,668,142
N u m b e r of T ons of C o m p a n y F re ig h t Carried O neM ile
116,705.702
T o ta l N u m b e r o f T ons of F re ig h t C arried O ne M l le .. 1,035,373,844
N u m b e r of Passengers C arried O ne M ile _______
79,557,365

775,369,968
107,839,091
883,209,059
64,780,549

143,298,174
8,866,611
152,164,785
14,776,816

18.48
8.22
17.23
22.81

M ileage o f Loade d F re ig h t Cars
M ileage o f E m p t y F re ig h t Cars
T o ta l M ileage of F re ig h t Cars _
M ileage of Passenger C a r s _____

Gross R e c e ip ts . . . ______________________________________
O p e ra tio n E x p e n s e s _______ _______ _______ _____________
Excess o f R eceipts over O p e ratio n Expenses, ex clu
sive o f T a x e s __________________________________________

$9,499,659 39
7,679,720 00

$8,671,250 83
6,989,916 14

$828,408 56
689,803 86

1,819,939 39

1,681,334 69

138,604 70

Gross R eceipts per M ile o f R o a d ______________ .._____
O p e ra tio n E x penses per Mile o f R o a d ..... ....................
Excess of R ec eipts over O p e ratio n E xpenses, per
M ile o f R o a d , exclusive of Taxes _________________

$7,666 33
6,197 62

$7,159 22
5,771 07

$507 11
426 55

1,468 71

1,388 15

Gross R ec eipts per R ev e nu e T rain M i l e ....... ...........
O p e ratio n Expenses per R ev e nu e T rain M ile ________
Excess o f R eceipts ov er O p e ratio n Expenses, per
R e v e n u e T rain M ile , E x clu siv e o f T ax es_______
T ons of R e v e nu e F re ig h t C arried O ne Mile per Mile
o f R o a d O pe rated __________ __________ _______ _____
Passengers Carried O ne Mile per Mile o f R o a d O per__
A verage N u m b e r o f L o a de d F re ig h t Cars In T r a in ___
Average N u m b e r o f E m p t y F re ig h t Cars In T rain
.
A verage N u m b e r of T o ta l F re ig h t Cars In T r a in _____ j
A verage N o . o f T ons o f R e v e nu e F re ig h t in T r a in ___
Average N o . o f T ons o f C o m p a n y F re ig h t in T r a i n . . 1
A verage N o . o f T o ns of A ll F re ig h t In T r a in _________
A verage N o . o f T ons o f R ev e nu e F re ig ht In e a c h ’
L oade d C ar
--------------------------------- j
A verage N o .o f T ons of A ll F re ig h t In each L oaded Car
A verage N o . of Passengers In T r a in ................................ j




$2 00 06-100
1 61 73-100

Decrease.

8,054

9.55
9.87

7.08
7.39

$2 02 03-100
1 62 86-100

$0 01 97-100
01 13-100
00 84-100

741,376
64,204

640,167
53,485

101,209
10,719

15.81
20.04

18.72
4.72
23.44

18.44
4.85
23.29

317.62
40.35
357.97

281.90
39.20
321.10

35.72
1.15
36.87

12.67
2.93
11.48

16.79
19.13
37.71

15.28
17.41
36.44

1.69
1.72
1.27

11.06
9.88
3.49

1.52
2.68
.64

THE CHRONICLE.

808

[V o l .

lxxxy

.

T A B L E NO. 7.— C O M P A R A T IV E STA TEM EN T O F T R A F F IC F O R T H E Y E A R S E N D E D
J U N E 30 1907 A N D 1906.
Y e ar E n d e d J u n e 30th.
1907.
T ons o f R e v e n u e F re ig h t C a r r i e d ___________________
T ons o f R e v e nu e F re ig h t C arried O ne M i l e ________
A v e ra g e D ista n c e H a u l o f O ne T o n ________________
F r e ig h t R e c e ip ts _____________________________________
-Average R ec eipts per T on __________________________
A verag e R eceipts per T o a per M ile _________________
'F reight R e c e ip ts per M ile of R o a d _________________
♦Miles R u n b y Freigftt T r a i n s _______________________
F r e ig h t R ec eipts per T ra in M i l e ____________________
N u m b e r o f Passengers C arried _____________________
'N u m b e r C arried O ne M ile ____________________________
A v erag e D istan ce T raveled by each P a s s e n g e r ___
Passenger R e c e ip ts ____________________________________
A v e ra g e Fare of each P a s s e n g e r _________________ I I
A v e ra g e R e c e ip ts per Passenger per M ile ___________
P assenger R eceipts per Mile o f R o a d _______________
G ross R ec eipts o f Passenger T ra in s _______
G ross R ec eipts o f Passenger T rain s per M ile of R o a d
* M iles R u n by Passenger T r a in s ____________________
R e c e ip ts o f Passenger T rain s per T rain Mile ______

1906.

Increase.

4,983,051
918,668,142
184.36 m iles
$6,891,204 77
$1 38

4,377,132
605,919
775,369,968
143,298,174
177.14 m iles
7.22 m iles
$6,391,646 58
$499,558 19
$1 46
7 5 0 -10 0 0 C
824-1000c
$ 5 , 5 6 1 28
$5,277 12
$284 16
2,750,541
141,807
2,892,348
$2 38 26-lOOc
$2 32 38-100c
$0 05 88-lOOc

2,561,830
79,557,365
31.05
$1,964,573 29
$0 76
$0 02
$1,585 43
$2,320,559 29
$1,872 72
2,109,849
$1 09

m iles
69-lOOc
47-100c

99-lOOc

1,960,098
64,780.549
33.05 m iles
$1,613,412 00
$0 82 31-100c
$0 02 49-100c
$1,332 08
$2,028,079 40
$1,674 44
1,777,724
$1 14 8-100c

601,732
14,776,816
$351,161 29
$253 3a
$292,479 89
$198 28
332,125

P e r Cent of
Increase
or Decrease.
13.84
18.48
4.08
7.82
5.48
8.98
5.38
5.16
2.53
30.70
22.81
6.05
21.77
6.83
.80
19.02
14.42
11.84
18.68
3.59

Decrease.

$0 08

2.00 m iles
$0 05 62-100c
2-lOOc

$0 04

9-100c

•In c lu d e s M ileage o f M ix ed T ra in s .

T^u^kerbocker Ics Co. of Chicago.— A nnual Meeting Held.
-■
—?v ew Directors.— The annual meeting, which was postponed
from tim e to time since last spring because of the opposition
of the m inority stockholders, with whom a settlement was
reached last week (V. 85, p. 725), who objected to the sale of
control to the Western Ice Co., was held in Chicago on Thurs
d a y . A compromise was also made w ith Thomas Bolton, a
dissenting stockholder, who obtained a temporary injunction
this week against voting the stock held by the new interests
a t the annual meeting, W illiam Coffeen being elected to the
board to represent him . The board elected is as follows:
Re-elected: J . S. F ie ld a n d C . B . S h e d d o f C hicago a n d E . R . T h o m as a n d
O . F . T hom as of N ew Y o rk .
N e w D irectors: W . W . G u rle y , H . M . C a rte r, W . H . S h e d d , W . H . C ard
a n d W illi a m Coffeen, a ll o f C hica go.

Report.— The results for the year ending Dec. 31 were:
Y e ar—
N et.
Interest.
6 % on P re f. 4 % on C om . B a l . , S u r .
1 90 6 ______$1,015,516
$2 1 9 ,62S
$179,760
$159,840
$456,291
1905 ______
391,950
98.491
179,757
...............
113,702
384,528
97,089
179,754
...............
107,685
1 9 0 4 ______
F r o m surplus in 1906 there was reserved fo r tax es, lost accounts a n d
c o u p o n lia b ilitie s $52,000, le a v in g a balance o f $404,291 carried to profit
•a n d loss a c c o u n t.— V . 85, p . 725.

New H aven (Conn.) Gas L ig ht Co.— Option of Exchange.—
Holders of the $1,000,000 convertible bonds dated April 1
1905 are notified that the company will exercise its option to
exchange these bonds for stock, dollar for dollar, on and after
O ct. 1. The exchange, when completed, will increase the
stock to $3,000,000, par $25. Compare V. 78, p. 345; V.
8 4 , p . 54.
New Haven Iron & Steel Co .— Dividend.— A dividend of
'6% was recently declared payable Sept. 28 to holders of
record Sept. 17. The gross sales for the year ending Aug. 31,
notw ithstanding three m onths’ interruption by strike, were
ab ou t $542,000, against $595,113 in 1905-06; net profits,
$23,500 against $25,715.— V. 84, p. 629.
New York Air Brake Co.— Option in Controlling Interest
Extended.— The option on a large am ount of stock supposed
to be a controlling interest, which has been deposited with
S . B. Chapin & Co., bankers, of this city, has, it is reported,
been extended two months to Nov. 15. I t is rumored that
the option is held in the interest of the Westinghouse Air
Brake Co.— V. 84, p. 1371.
New York Dock Co.— Report.— The results for the fiscal
year ending Ju ly 31 were:
l^ is c al
Gross
N et
Interest
D iv id e n d s Deprec., B alance,
Y e ar.
earnings.
earnings, on bonds, on stock.
&c.
surplus.
1 9 0 6 - 0 7 .. .$1 ,967,960 $1,078,770 $472,000 (4)$,400,000 $38,570 5168,200
1905-06--- 2,130,980
1,231,384 468,573 (3) 300,000 102,043 360,768
1904-05--- 1,845,171
969,597 463,200 (2) 200,000 25,189 281,207
F ro m surplus as above there was ap p ro p riate d $100,900 for renew al fu n d
I n 1906-0 7. a g ain st $150,000 in 1905-06, leav in g a balance of $68,200 carried
t o p r o fit a n d loss acc o u n t in 1906-07, a g ain st $210,768 in 1905-06.— V . 83,
p . 1293.

C a p ita liz a tio n .
P ref. stock— 6 % c u m ., redeem able a t 120 a n d accrued d iv ide nd - $500,000
C o m m o n s t o c k ------------------------------- --------2,500,000
“ F irst a n d re fu n d in g m tg e .” 5 % gold b o n d s, t o ta l a u th o riz e d - -10,000,000
Present issue t o retire u n d e rly in g b o n d s a n d fo r im 
p ro v e m e n ts, & c________________________________________ $1,201,000
R eserved to retire re m a in in g u n d e rly in g b o n d s _______
299,000
I n escrow u n d e r conserv ativ e re s tr ic tio n s .- ................... 8,500,000
E a rn in g s of Constituent C om panies fo r Y ear ended J u l y 31 1907 a n d Estim ates
fo r C alendar Years 1907, 1908 a n d 1909.
Year ended Estim ates fo r C alendar Years.
J u l y 31 1907. 1907.
1908.
1909.
Gross e a rn in g s ............ ...................... $361,165
$438,000 $590,000 $700,000
O p e ra tin g expenses a n d ta x e s___ 226.995
263,000
325,000
350,000
N e t e a rn in g s............ ....................$ 1 3 4 ,1 7 0
$175,000
$265,000 $350,000
N ote.— A n n u a l Interest o n $1,500,000 bo nd s, $75,000: balance, su rp lu s ,
on basis o f earnings fo r year e n d in g J u ly 31 1907, $59,170.
1903.
1904.
1905.
1906.
Gross e a rn in g s ^.................................$264,887
$277,184 $308,799 $327,321
D u r in g the la tte r p a rt of 1906 th e c o m p a n y established new a n d liberal
rates, w h ic h hav e a lrea dy largely Increased its business.
The economies
effected th ro u g h c o ns o lidatio n a n d th e im p ro v e m en ts t o be m a d e w ith the
proceeds of these bo nd s shou ld largely Increase th e earnings, b o th gross a n d
n e t, d u rin g th e nex t few years.
The “ first a n d re fu n d in g ” bo nd s are secured b y a first m ortgage o n the
entire p ro p e rty , sub ject to $299,000 bo nd s of c o n s titu e n t com panies, w h ich
cover o n ly a p a rt o f th e p ro p e rty .
T he proceeds o f th e present issue o f
$1,201,000 bo nd s are to be used to retire certain bo nd s o f c o n s titu e n t c o m 
panies a n d for p e rm a n e n t a d d itio n s a n d im p ro v e m e n ts , w h ic h w ill largely
Increase o u r e arn in g c ap a c ity .
O f th e escrow bo nd s $299,000 are reserved
to retire a like a m o u n t of u n d e rly in g bo nd s, a n d th e re m a in in g $8,500,000
m a y be Issued to reim burse the c o m p a n y fo r o n ly 80 % of th e cash cost of
“ p e rm a n e n t extensions a n d Im p ro v e m e n ts ,” as defined in th e m o rtg a g e,
a n d th e n o n ly w hen th e net earnings fo r th e 12 m o n th s preceding shall hav e
been a t least tw ice th e interest charge on a ll o u ts ta n d in g bo nd s, to g ether
w ith the bo nds it is proposed to issue (except t h a t the first $100,000 bo nds
m a y be issued fo r 8 0 % o f said cost w h en th e n et earnings eq u al one a n d
three-fifths tim es th e interest ch arg e ). O f th e above escrow bo nd s $750,000
m a y also be Issued for 60 % of the cost of a cq u irin g a t least a m a jo r ity o f the
c a p ita l stock of gas or electric co m panies , w ith the same restrictions as t»
earning s, or a t p a r fo r the a c q u is itio n of bo nd s o f such com panies a m a
jo r lty o f the c a p ita l stock of w h ic h is ow ned b y the S cranto n E lectric Co.
A n n u a l s in k in g fu n d 2 % of to ta l a m o u n t o f bo nd s o u ts ta n d in g each year,
be g inn in g J u ly 1 1910.
The c o m p a n y has entered In to satisfactory contracts for th e p u b lic lig h t 
in g of the c ity of S cran to n a n d the tow ns of D u n m o re , T hroop a n d D ick so n .
S c r a n to n , in c lu d in g D u n m o re , geographically a p a r t of the c ity , has a
p o p u la tio n of a b o u t 140,000.
T he c o m p a n y has three well located cen tral statio ns in S c ran to n , w ith a
t o ta l c ap a c ity of 5,400 k ilo w a tts . A p a r t o f th e proceeds of th e present
b o n d sale w ill be expended on a steam tu rb in e generator, boilers a n d e q u ip 
m e n t o f a m in im u m c ap a c ity o f 1,500 k .w . to be Installed in the s tatio n of
the S u b u rb a n E lectric L ig h t Co.
The business section is served th ro u g h a
m o d ern u n d e rg ro u n d d u c t system ; the re sidential a n d o u tly in g sections
over s u b s ta n tia l pole lines.
The c o m p a n y ow ns tw o banks of “ c u lm ,”
c o n ta in in g over 500,000 tons of th is excellent fu e l, w h ic h is a m ix tu r e of
fine co al, coai d u s t, &c. A s b o th ba n k s are c o n s ta n tly be ing adde d to
fro m the m in es, th e y are a v a lu a b le asset, p r o v id in g cheap fuel fo r th e
generation o f electrical current fo r m a n y years to come.
T he c o m p a n y operates u n d e r franchises u n lim ite d in tim e , w ith one ex
c ep tio n, a n d th is franchise extends w ell beyo nd th e m a tu r ity o f the bo nd s.
A ll fianchlses are free from bu rdensom e restrictio ns. There Is a s u b s tan tia l
cash e q u ity in the p ro p e rty over a n d above the bo nd ed d e b t a n d th is w ill
be a u g m en te d as a d d itio n s a n d Im p ro ve m en ts are m a de.

“ The Scranton company is owned by the American Gas &
Electric Co., which is closely identified with the General
Electric Co., New York, assuring an active and progressive
policy along conservative lines.” — V. 85, p. 725, 226.
Providence (Bell) Telephone Co.'— New Stock.— In July
Shawinigan W ater & Power Co.— First Dividend.— An
la s t the directors voted to increase the capital stock to $2,- initial dividend of 1% for the quarter ending Sept. 30 has
500,000 by the issue of $500,000 of new stock. This stock been declared on the paid-up capital stock, payable Oct. 18
Is offered at par ($50 a share) to stockholders of record to holders of record Oct. 15. Compare V. 85, p. 164.
Sept. 10 1907 in amounts equal to one share for every four
Standard Oil Co. of New Jersey.— Report far Calendar Year
.shares then held. Subscriptions were to be filed on or be
1906.— See “ Annual Reports” on a preceding page.
fore Sept. 18 and must be paid on or before Oct. 1 1907.—
Re-capitalization Still in Contemplation.— An “ Official
V . 85, p. 44.
statement” made on Sept. 23 says:
.Revere (Mass.) W ater Co.— Compensation by City Fixed.
The s tate m e n t t h a t a conference of S ta n d a rd O il interests has been c alle d
th e purpose of c h a n g in g th e n a m e o f th e c o m p a n y and effecting reorgan
— See W in th ro p , Mass., in “ State and City” Depart for
iz a tio n In general is w ith o u t fo u n d a tio n .
W e can do n o th in g in th is rrepect
m ent and compare V. 83, p. 100, 327.
so lo n g as th e c o m p a n y is u n d e r in v e s tig a tio n .
I can say, how ever, t h a t as soon as th e S ta n d a rd O il Co has freed itse lf
Scranton (Pa.) Electric Co.— Bonds Offered.— N. W . Harris from
th e la b y r in th of litig a tio n now In v o lv in g i t , tMere w ill be a reorganiza
& Co. of New York and Boston and the Harris Trust & Sav tio n . T he c a p ita l stock w ill be Increased to a n a m o u n t m ore in h a rm o n y
th e v a lu e o f its assets, say to $400,000,000 or $500,000,000.
ings Bank of Chicago are offering for sale "]$1,000,000 w ith
W e also purpose to Issue p e rio d ic al statem e nts o f earn in g s, ope rations.
first and refunding mortgage 5% gold bonds, dated July 1, &c. W e propose to give th e representatives of th e G o v ern m en t e v e ry th in g
the w a y of in fo rm a tio n th a t lt c a lls for, w h ic h Is a ll we can do .
I f we are
.*1-907 and due Ju ly 1 1937, bu t subject to call for payment on in
g u ilt y o f c ertain in fra ctio n s of th e la w th e n p r a c tic a lly a ll o ther corpora
.-any interest date after July 1 1912 at 110 and interest, tio n s are g u ilty of th e sam e offences, a n d sh o u ld he treated a cc o rd ing ly ,
in te re s t payable Jan. 1 and July 1 in New York. Denomi b u t we are co nfid en t w e w ill w in o u t .— V . 8 5, p . 725, 473.
Standard Roller Bearing Co., Philadelphia.— New Stock.—
n a tio n $1,000c*. United States Mortgage & Trust Co.,
The shareholders will vote Oct. 2 on increasing the capital
JNew Y ork, trustee. Tax-exempt in Pennsylvania.
stock from $3,500,000 to $5,000,000 (all of one class), the
A b s tra c t of Letter from Vice-President H . T. H a r tm a n , dated Scranton. P a .,
A u g . 15 1907.
new shares to be taken at par by shareholders of record Oct.
T h e c o m p a n y Is a c o ns o lid a tio n o f th e fo llo w in g com panies co n tro llin g
10, in order to provide for the rapidly growing business and
•Che- e n tire electric lig h t a n d pow er business o f th is city : S cran to n Illum itn a t l n g , H e a t & P ow er C o ., S cran to n E lectric L ig h t & H e a t C o ., S u b u rb a n
also for the manufacture of roller bearings for trolley cars.
'E le c tr ic L ig h t C o ., D u n m o re E lectric L ig h t , H e a t & Pow er Co. a n d Price— V. 83, p. 564.
b u rg E lectric L ig h t C o. A lso p ra c tic a lly th e entire c a p ita l s trc k of th e
'L a c k a w a n n a L ig h t C o. a n d $271,000 of Its o u ts ta n d in g $370,000 first
United ’ Sheet & Tin Plate Co.— Sold.— This company’s
m o rtg a g e bo nd s are ow ned b y th e S cran to n E lectric Co. a n d deposited w ith
plants at Marietta, Newcomerstown, Byesville and Newark,
v iS » tru s te e u n d e r the m ortgage.




S e p t . 28 1907.]

>•09

THE CHRONICLE

O ., and 82 acres of coal lands near Cambridge, O ., were
recently purchased for $49,500 at bankruptcy sale by Strauss
& Co., Philadelphia, representing Philadelphia capitalists.
The property was appraised at $70,500.— V. 84, p. 755.
United States F inishing Co.— Earnings.— The net earnings
for the year ending June 30 1907 were $677,992 and compare
with $642,161 for the preceding year ending June 30 1906.
Dividend No. 33 of 1% % ($43,500) on the preferred stock is
payable Oct. 1 1907 to holders of record Sept. 20.— V. 84,
p. 755.
United States Independent Telephonj Co., Rochester.—
Deposits— More Precise Inform ation.— On in q uiry we learn
that most of the large bondholders have assented to the plan
of reorganization, although two or three of the largest have
not. The aggregate am ount of the bonds deposited is about
60% of the entire issue. Compare V. 85, p. 534, 409.
United States Ind ustrial Alcohol Co.— See report of “ Dis
tillers’ Securities Corporation” under “ Annual Reports” on
a preceding page.— V. 84, p. 343.
Vandergrift L and & Im provem ent Co.— Reduction of C a p i
tal Stock.—This company, whose $550,000 capital stock is
listed on the Pittsburgh Stock Exchange, has reduced its
capital issue to $350,000.— V. 80, p. 2348.
Virginia Iron Coal & Coke Co .— Report.— For year ending
June 30:
Y e a r—
Gross.
Met.
Other In c. D eductions. B a l.,s u r p .
$084,916
S82.453
§407,362
§660,007
1906-07____ $5,050,407
1905-06____ 5,088,293
558,758
22,078
420,392
160,444
1904-05. . . . 3,317,562
462,042
54,471
89 679
426,833
O p e ra tin g expenses were c harg ed In 1906-07 w ith §301,787 fo r de p re cia '
tlo n a c c o u n ts, a g ain st §268,432 In 1905-06 a n d §214,281 In 1904-05. The
cost o f Im p ro v e m e n ts to ow n ed a n d leased properties a ggregated §474,229,
a g ain st §531,720 In 1905-06
O th e r In com e la 1906-07 In clu des: In te re s t
a n d d is c o u n t, §52,576; farm s a n d fa rm re n ta ls , §14,524: m isc ella n eous
ea rn in g s. $15,233; ope ration s of P u la s k i c an n e ry , $120.

Listing.— The New York Stock Exchange has authorized
the listing on Oct. 1 of $432,080 additional stock, to be issued
that day as a stock dividend of 5 % , m aking the total am ount
isted $9,073,680.— V. 85, p. 350.
Washburn-Crosby Co., M inneapolis.— Xew Stock.— An in 
crease in the capital stock from $1,800,000 to $3,600,000
has been authorized. The St. Paul “ Pioneer Press” of
Sept. 21 said:
Ja m e s S. B e ll, P re sid e n t of th e c o m p a n y , said yesterd ay th a t th e increase
was m a d e to cover th e p la n t w hich the c o m p a n y has recently purchased
a t B uffalo a n d the new te rm in a l ele v ator w hich has been erected In M in n e a p 
olis.
He said t h a t the cost o f d is trib u tio n a n d o f o th e r th in g s conn e cted
w ith th e m illin g business are now highe r th a n for y ears.— V . 79, p . 632.

W estbank Company, San Francisco.— Mortgage.— This
company, organized this year under the laws of California,
and owning a leasehold interest in Market St. property,
San Francisco, has made a mortgage to the Mercantile Trust
Co. of San Francisco, as trustee, to secure an issue of $250,000 6% gold bonds of $1,000 each, dated Ju ly 1 1907.
These §250,000 bonds w ill m a tu r e in 30 years, b u t are su b je c t to c a ll,
a ll or a n y , in 1917 a t p a r.
D e n o m in a tio n §1,000.
Inte rest p a y a b le
J a n . 1 a n d J u ly 1 a t office o f trustee.
S in k in g fu n d §10,000 y e a rly be g in 
n in g J u n e 1 1912. P re sid e n t, M y er F rie d m a n ; S ecretary , W m . C. M u r
do c k J r .

9The

C o m

m

e r c ia l

J 'lm e s .

C O M M E R C IA L E P IT O M E .
Friday Night, September 27 1907.
W ith copper down to 15c. there has been a rather better
demand for it, and though the iron trade reflects a conserva
tive if not reactionary spirit, general business reaches a good
volume and prices are for the most part steady. Specula
tion, allowing for some activity in grain, is on the whole quiet.
L A R D on the spot has advanced in response to a rise a t
the W est, where speculation has been more active in sym
pathy w ith higher prices for corn. City 8% c.; Western
9 ^@ 9 .2 0 c . Refined rather more active and higher. Refined
Continent 9.70c.; South America 10.30c.; Brazil, in kegs,
11.60c. Lard futures have been more active at higher prices.
D A I L Y C L O S IN G P R I C E S
S a t.
S e ptem b er d e li v e r y .. . . . 8 . 95
O c tob er d e liv e ry ________ 8.97J4
J a n u a r y d e liv e ry ________ 8.66

O F L A R D F U T U R E S I N C H IC A G O .
M on.
Tues.
Wed. Thurs. Fri.
8.95
9.10
9 .07J4
9 .07J3
______
9.00
9.10
9.10
9 .07J4
9.10
8.62 3^ 8.75
8.75
8.70
8.82

P O R K on the spot has been quiet and lower; mess $17 25@
$18; clear $16 50@$17 50; fam ily $18 50@$19. Beef has
been in fair demand and steady; mess $10@$10 50; packet
$11 50@$12; fam ily $15 50@$14 25. Cut meats have been
quiet; pickled shoulders 73^>c.; pickled hams 12@ 123^>c.
Tallow has continued quiet at 6c. Stearines have been
firmer; oleo 83^@ 8%c.; lard 10J/2@10MC- Butter has ad
vanced; creamery extra 29c. Cheese is higher, owing to
strong interior markets; State full cream fine 1434c. Eggsr.
Western firsts, now 22 ^@ 23 3^0.
O IL .— Cotton seed has been fairly active at some advance.
Prime summer yellow 55@56c. W inter 59@60c. Linseed'
has been firmer with a fair trade. City raw American seed
45@46c. Calcutta raw 7©c. Lard has been in moderate
demand and steady; prime 74@76c.; No. 1 extra 54@57c.
Cocoanut has been quiet and about steady; Cochin 9@ 9}4c.y
and Ceylon 7% @ 8c. Peanut has remained at 65@80c. for
yellow, with the usual trade. Olive has been steady w ith a
fair business; green 65@75c; yellow 67@80c. Cod has been
quoted up to 40@42c. for domestic and 42@44c. for New
foundland. Pressed menhaden has been active; brown 38@
39c.; bleached winter 40@41c.
C O F F E E On the spot has been quiet and stead}’’, w ith
No. 7 Rio 63^c. West Ind ia growths have been in better
demand of late a t steady prices. Fair to good Cucuta
8 % @ 9 % c. The speculation in future contracts has been
light at some advance due to a rise in Havre and Ham burg*
The market here, however, has lacked striking features.
The closing prices were as follows:
S e p te m b e r_______ 5.80c.
O c to b e r __________5.80c.
N o v e m b e r ______5.85c.
D e c e m b e r _______ 5.90c.

( J a n u a r y ___________ 5.95c.
F e b ru a ry _________ 6.00c.
|M a r c h ____________ 6.05c.
|A p r i l ______________6.10c.

M a y ...................
6 .1 5 c.
J u n e ______________6.20c„
J u l y ______________6 .2 5 c .
A u g u s t ............ ...... 6 .3 0 c.

S U G A R .— R aw has been steady b u t quiet at 3.95c. for
centrifugal, 96-degrees test; 3.45c. for muscovado, 89-de
grees test, and 3.10c. for molasses, 89-degrees test. R e
fined has been in rather better demand andfirm at 4.70@4.90c.
for granulated. Teas have been firm, especially for the
A v g us t.
5 M o nths. \
A ugu st.
5 M o nths.
low grades, which are scarce, while there is a steady dem and.
M a n u f. p r o fit. §356,852 $2,491,099 |N e t in co m e - . §1,071,304 §3,548,886
Spices have been steady with a good trade. Hops quiet
Mlscel. Incom e
714.452
1,057,787 I n t . d e p 'n . &c
744,671
1,844,545
b ut firm, with stronger prices in California and Oregon.
T o ta l n e t . . §1.071,304 §3,548.886|
B a l . f o r d i v . §326,633 §1,704,341
P E T R O L E U M has been active and firm with refined ir*
Employees.— The company has recently been laying off barrels, 8.45c. bulk 5c. and cases 10.90c. Gasoline has.
about 1,000 workmen, a large part of whom, it is explained, been in good demand and firm; 86 degrees in 100-gallon
were engaged in m aking extensions and additions to the drums 21c. N aphtha has ruled firm; 73 to 76 degrees in 100plant. The total number employed is about 18,000, and gallon drums 18c., with a very good trade. Spirits of tu r
the reduction, it is asserted, will not m aterially lessen the pentine has declined in response to a lowering of prices a t
output capacity of the works.— V. 85, p .738, 606.
Savannah, and business latterly quiet at 54c. Rosin slow
of sale at $4 20@$4 25 for common to good strained.
T OBA CCO.— In domestic leaf there has been a fair busi
Redm ond & Co., New York, and Philadelphia have
ness, largely in Pennsylvania and Connecticut broad leaf,
issued a circular calling attention to the fact that m any
and some business in N. Y . State binders. Prices have
convertible bond issues of the leading companies are now
shown considerable strength, and in some cases are somewhat
selling at prices at which they are likely to bring the investor
higher. Sumatra leaf has met with a fair demand and note
very substantial returns, not only in interest yield b u t in
worthy purchases at the Amsterdam sales are reported for
speculative profits as well. There are 30 or 35 standard
American account. H avana leaf has continued to sell on a
issues yielding from 4 to 7 % , w ithout the convertible fea moderate scale, with prices generally steady.
In the
tures. The circular gives prices and yields, and shows the
m ain tobacco prices have remained unchanged.
figures the stocks m ust pass to afford a profit through con
C O P P E R has declined to 15c. for electrolytic delivered
version, with method for finding such conversion prices.
thirty days, or practically about 14%c. cash, with Lake
The circular will be mailed on request.
quoted at 15@1534c- Some sales of Lake are said to have
— Berkeley School begins its 28th year next Monday, the been made in Europe at 15J^c. c. i. f. The sales in th is
30th, and there is already, we understand, a large gain in country, m ainly to Europe, are said to have increased on the
enrollment. The force of instructors has been increased basis of the reduced prices, b u t latterly trade has been
and one or two new departments have been added. The rather quiet and supplies appear to be accumulating. Iron
building is located on the corner of 72d Street and West End has remained at $20 50@$21 50 for No. 1 Northern and has
Avenue, overlooking the Hudson, so that the boys have met with only a moderate demand as a rule. Foreign m ar
pfenty of sunshine and pure air all day long. The primary kets for British iron have been stronger. Lead has been
department, we are informed, is being given especial atten quiet and weaker at 4.65(5’4.70c. on the spot and 4.60c. for
tion this year.
September delivery. Spelter has been in better dem and
— Mr. W alter E. Bell, for the past 5 years one of the at an advance to 5.25@5.30c.‘, with September 5.15c. in car
managers of the bond-sales department in the Chicago office lots. The demand has been mostly for October, November
of N. W. Harris & Company and the Harris Trust & Savings and December shipment. Tin has been more active here
Bank, has opened a branch office for X. W . Harris & Co. in and London shorts have been squeezed further. Of late
the Citizen’s Building, Cleveland, Ohio. Just prior to Mr. leading London holders have apparently been selling a n d
Bell’s leaving Chicago the staff of the Harris Trust & Savings prices have weakened. Here Straits spot and September
Bank tendered to him a farewell banquet at the Grand 36%c. asked and 36c. bid,the tone latterly having been weaker
in sym pathy with a decline at the Banca sale in Am sterdam .
Pacific Hotel.
W estern Ice Co.— In Control of Knickerbocker Co.— See
that com pan y above.— V. 85, p. 738.
Westinghouse Electric & M anufacturing Co.— Earnings.—
For August and the 5 months ending Aug. 31 1907:




THE CHRONICLE-

81 1 )

[V o l .

lxxxv

.

COTTON.
F riday Night, September 27 1907.
| Sept. 27 at—
T H E M O V E M E N T O F T H E C R O P as indicated by our N ew O r le a n s ..
telegrams from the South to-night is given below. For the G a lv e s t o n ____
n n a h ____
week ending this evening the total receipts have reached SC ahva arle
s to n ____
221,112 bales, against 152,868 bales last week and 100,227 M o b ile _____ .
bales the previous week, m aking the total receipts since N o r f o l k _______
N ew Y o r k ____
the 1st of September 1907, 514,175 bales, against 674,576 O th e r p o r ts ___
bales for the same period of 1906, showing an decrease
T o ta l 1907. .
since Sept. 1 1907 of 160,401 bales.
T o ta l 1 9 0 6 ..
T o ta l 1905-.
Receipts at—

S a t.

M on

W ed.

Tues.

T hurs.

F r i.

Great
B rita in . F ra n ce

Ger
m a ny .

7,868
12,476
6,000

219
16,994
5,225

1,093
12,730
16,000

Other | CoastF oreign : wise.
7,767
11,222
1,900

1I 200

1,600

"200

3~,500
8,000

900

1,800
7,000

3,200
1,500

39,044
45,542
61,422

24,938
44,041
26,190

38,823
29,555
63,585

25,589
30,660
9,945

Leaving
stock.

Total
16.947
54,937
82.325
3,000
3,900
10,495
9,400
16,500

38,400
26,599
47,296
12.3S6
8,646
2,331
147,305
19,842

20,110 148,504
18,407 168,205
31,286 191,528

302,805
268.730
475,437

1,515
4,200
3,000
9«0
10,495

Total.

Speculation in cotton for future delivery has been fairly
active, with prices, in spite of occasional rallies, gradually
384
384
drifting to a lower basis, owing largely to generally favorable
2,982
5,045
2,132
3,248 17,479
652
3,420
weather. Fears of a violent equinoctial storm were not
626
425
1,329
6,674
1,458
2,216
620
______
450
450
realized. More or less heavy rains occurred in the Eastern
50
50
b e lt, b u t did no apparent h a rm , and the storm soon passed
9,652 12,967 10,771 68,302
12,349
8,890 13,673
11,986 11,986
off to the northeast.
Brief upward turns of prices have
993
1.746
1.318
2,192
8,144
547
1,348
occurred from time to time, owing to the liquidation of
--2,188
4,536
4,668 23,976
3,099
4,357
5,128
“ short” accounts and some m anipulation, it is supposed, on
1,102
2,057
1,126
2,037
9,203
1,238
1,643
the part of prominent operators, who, after covering their
------108
108
---______
short interest, appear to have taken the “ long” side, at
----------14
164
150
least for the time being. A noticeable disinclination, too,
129
129
B a lt i m o i e _______
on the part of some of the spot markets to follow the decline
---45 ’ ____
118
P h ila d e lp h ia ____
73
.....
---in futures has also at times had a more or less steadying effect.
T o ta l th is w e e k . 28,234 31,753 49,492 29,945 32,495 49,193 221,112
Moreover, the receipts at southwestern points have continued
rather small and some of the crop advices from Texas have
The following shows the week’s total receipts, the total
been unfavorable. There is an idea among many of the
since Sept. 1 1907, and the stocks to-night, compared with
trade that the Texas yield is to be rather moderate and that
last year:
any loss there will have to be made up in the eastern section
of the belt, from whence the crop news has for some time
1906.
past been very favorable. This makes the date of killing
Receipts to
September 27.
T his S ince Sep T his S ince Sep
frost a more than ordinarily im portant factor. The decline
week.
1 1907.
week.
1 1906.
1907.
1906.
in prices is predicated on the idea that, with the crop pros
323,666
81,536
180,528 121,032
145,101
G a lv e s to n ________
73,945
pects what they are, the receipts at points east of the Missis
P o rt A r t h u r _____
sippi so large, and with the visible supply of such liberal
384
" V,526
297
C o rp u s C h ris ti, &c.
' 1,489
55,347
74,625
N ew O rle a n s ____
17,479
30,033: 43,948
96,782
proportions, no apprehension need be felt as to future sup
6,674
12,546
11,727:
7,120
M o b i l e ___________
1,9499
13.400
plies. And at the same tim e present prices are regarded
600
P e n sa c o la ________
450
1,252
3,1491
32
32
Ja c k s o n v ille , icc50
50
by many as, under the circumstances, unduly high, especially
179,405
68,302
S a v a n n a h ________
65,710
159,562
80,621
69,727
as the decline in yarns at the South and reports of cancella
19,529
1 .286
8,419
B r u n s w ic k _______ 11,986
2,952[
3,042
15,386
8,721
C h a r le s to n ----8,144
23,593
10,156
21,425
tions of orders at Fall River seem to suggest that the cotton
G e o rg e to w n _____
trade is not altogether escaping the reaction in business
19,559
27,134!
14,662
W ilm i n g t o n ______ 23,976
46,092 15,354
9,203
18,917 10,575
12,826
elsewhere observable. I t is the very general conviction
N o r fo lk ___________
18,489|
11,938
108
548
79
368;
N e w p o rt N e w j.& c
that unless the crop meets with some serious setback there
156,705
New Y o rk ............
88,779
will be nothing for it but a gradual decline of prices. Hedge
216
164:
B o s t o n ___________!
10
23!
2,970
1 ,559
276
526
443
664
936
B a ltim o r e ________
1291
selling has been more or less of a feature, both here and in
316!
109
4.868
3,010
P h i la d e l p h i a ____ i
118
242!
New Orleans; and some insist that the anti-option legisla
674,576
451,309! 436,935
T o ta l..... ............. ' ->21,1121 514,1751275,149
tion in m any of the Southern States within a year or two by
eliminating the Southern speculator, and making it some
In order that comparison m ay be made with other years, what more difficult for the planter and other spot holders
we give below the totals at leading ports for six seasons:
to get market information prom ptly, has had an effect preju
dicial to the interests of the Southern cotton trade generally.
Receipts at—
1907.
1906.
1905
1904.
1903.
1902.
The telegraph strike, which is still in progress, is also more
or less of a drawback. Whatever m ay be said pro or contra
73,943
106,986
G a lv e s t o n ___ j
121,032
155,404
105,714
100,999
384
297
429
P t. A r th u r , ice;
468
876
851
as to the effects of legislation, there can be no doubt that the
17,479
20,698
N ew O rle a n s .!
43,948
65,509
54,155
65,487
hedges are pressing upon the markets with a very noticeable
6,674
M o b ile _______
7,120
11,162
15,627
8,830
5,604
S a v a n n a h ___
68,302
71,505
65,710
107,355
57,623
56,188
effect. I t is evident too that m any of the farmers of the
B ru n s w ic k ___!
11,986
1,286
3,826
7,014
4,380
9,741
eastern section are disregarding the advice of farmers’
C ha rle ston .& cj
8,144
16,400
20,504
8,721
13,349
20.672
W i lm ’n , & c . _
23,976
15,354
25,323
30,237
21,594
22,231
unions to, hold for 15c. and are marketing their cotton
N o r f o l k _____ ,
9,203
10,575
29,892
21,361
32,685
18,900
freely. In parts of the belt, however, holding back of cotton
79
108
198
106
N ’p o rt N ., <fcc. i
162
1 ,724
1,027
A ll o th e rs____ j
911
1 ,373
6.137
5,760
6,855
is reported, especially in Texas. W all Street, New Orleans
and Liverpool houses have at times sold here very free ly.
T o ta l th is w k .
221,112
275,149
290,585
438,253
293,804
309,252
Some large switches have been made by buying December
Since S ept. 7 .
674,576
514,175
645,851 1,030,945
921,898 1,070,701
and selling January. Cotton coming forward i9 being sold
against to some extent in Liverpool, which is the highest
The exports for the week ending this evening reach a total market.
To-day prices were irregular closing slightly
of 108,408 bales, of which 58/273 were to Great B ritain, lower in spite of the stopping of October notices for about
650 to France and 49,485 to the rest of the Continent. 30,000 July, predictions of colder weather for Texas and
Below are the exports for the week and since Sept. 1.
heavy buying by W all Street interests. Spot cotton has
been quiet and declining. Middling uplands closed at 11,75c.,
Week ending Sept. 27 1907. From Sept. 1 1907 to Sept. 27 1907.
or a decline during the week of 50 points.
Exported, to—
!
Exported to—
The rates on and off m iddling, as established Sept. 11 1907
Exports
Conti
Great
1
from—j Great |
1
Conti
by the Revision Committee, at which grades other than
Total.
Britain. F r ’nce' nent. Total. B ritain , jFrance | nent.
m iddling m ay be delivered on contract, are as follows:
G alv eston . .
P o rt A r t h u r ____
C orp. C h ris ti, &c
New O rleans . .
M obile _________
P e n s a c o la _______
Ja c k s o n v ille . &c.
Savannah . . . .
B r u n s w ic k _____
C harleston . . .
G e o r g e to w n ____
W i l m i n g t o n ____
N o rfo lk .
N e w p o rt N e w s ..
N ew \o r k _______

9,656

G alv e s to n ____ 17,471; . .
Port A rthur__
Corp.Christi.&c
New Orleans
M o bile_______
P ensacola____
Fem andina .
Savannah ___
5,300
200
Brunswick____
____ j
Charleston____
W ilm ington___ 16,222
Norfolk
Newport News ____.
New Y o rk ____ 11,0851 _____I
Boston ______
5,020 _____1
io d . . . J
B a ltim o re ____
Philadelphia
3,075! _____
P ortland, M e ..
San Francisco.
Seattle . .........
T ac om a______
Portland, Ore.
P e m b in a .........j
Detroit_______
T otal.......... .

58,273

11,359

21,710

13,741; 31,212!

10,000
______

8,985
_____

12,235

60,061

33,181

i i i ” ! -----

250

’ 1,500

H ill

‘ 450

802

19,080! 24,580
7,162 7,162!

5,300

7,910
_____

. . 16,222!
*5
75

16,222
450
30,157
11,121
100
3,324

1,700
.........!
_____ !

6,524
104
2,799
_____

17,609
5,124
2,899
3,075

73,945

117,399
1,750
* 1,252

21,980
7,162

35,190
7,162

_____ !

10,529

mill

. . . 75

26,751
525

25,611
304
5,099

57’ 468
11,425
5,199
3,324

Strict low m ld-.c 0.30 off M iddling tinged!..c 0.30 off
Fully low m id .........0.65 off Strict low m id. ting 1.00 off
Low m id d lin g ____1.00 oil Low m id. t in g e d ...1.50 off
Barely low m id ____1.25 off Strict g’d ord. lin g .2.00 off
Strict good ord____1.50 off F ully m id. stained. 1.00 off
Fully good o r d .. 1.75 off M iddling stained. ..1 .2 5 off
Good o rd in a ry --- 2.00 off|Barely m id s td ____ 1.75 off
Strict g'd m id. tgd.0.35 on|Strlct low m . s ta in .2.25 off
Good m id . tin g e d .. E v e n iF ully 1. m . stain ed .2.62 off
Strict m id. tin g e d ..0.20 off;Low m id. s ta in e d ..3.00 off

The official quotation for m iddling upland cotton in the
New York market each day of the past week has been:
Sept. 21 to Sept. 27—
Sat.
M id d lin g u p la n d ________ ______ .1 2 .2 0

M on.
11.90

T ues.
11.90

W ed.
11.90

T h o rs.
11.80

Fri.
11.75

M A R K E T A N D SA LE S AT N E W Y O R K .

650 49,485108,408

127,787

34,217

105,463,

267,467

950 80,310 131,377

139,418 22,656;

195,242

357,046

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, a t the ports named. We add similar figures for
New York.




F a i r _____________ c l.75 on
Strict m id fair_____ 1.50 on
Middling fair______ 1.25 on
Barely m id fair____1.00 on
Strict good m id ____0.75 on
Fully good m id ____0.62 on
Good m iddling____0.50 on
Barely good m id ___0.37 on
Strict m iddling____0.25 on
Middling
__________ Basis!

S a t u r d a y ..
M o n d a y ___
T uesday __
W e d n e sd a y
T h u rsd a y .
F r id a y --T o t a l___

S p o t M a rk e t
Closed.

F uture s
M a rk e t
Closed.

Q u ie t 5 p ts . d e c ___
Q u ie t 30 p ts. d e c ___
Q u i e t ---------- .
S t e a d y ----------S te a d y 10 p ts. dec .
Q u ie t 5 p ts. d e c ___

B a rely stea dy
S te a d y _______
S te a d y _______
S te a d y ____ _
S te a d y _______
S te a d y _______

Sales of S p o t a n d Contract.
Con- |
ConTotal.
E x port sum 'n . tract
29

____
1.700

29
1.700

48

'"III
300

48
300

77

2.000

2.077

— —

S kpst. 28 1907. J

THE CHRONICLE

11 i t

*-*

1i

Pi

©CO

m

!

COCO

to M
© £-

I®

|©

-

MM

to |
CD i

to to

to

COCO

M^

CO4^
©

tO CO
OO-st

CO ©
co ►
—

M

ro
© *sl

SI ©©
mS M©
°©
O©
o©
1©

MM

>
—
•
i_
t

00^1

ro —
CP©

CO —

T®

— ©
©■sl

M O
to ©

—
IO 4

——
to Co

MM

h- N*

1® |© j®

M—

1©

MM

MM
m

|®

O O

T©

MM

MM

©M

©0

© ©
lU 00

© ©
to ©

© *sl
to -si
1©

©©
■
si©
© ©
|©

0©

©O

OO

O O

“44
^© s *SI
O O
51
*4 C»
©© 3
|© I©
OO ?
slsl
4- ©
21
1© 1 1
Cl
©
I©

1®

‘?
£3
Sa

i ’©

The above totals show th a t the interior stocks have in 
creased during the week 26,670 bales and are to-night 33,421
bales less than at the same time last year. The receipts at
all the towns has been 23,712 bales less than the same week
last year.
-

f © 1© lit
I I \t
IS 1*© lb IS IS 1S
T H E V IS IB L E S U P P L Y O F COTTON to-night, as made
lip 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.
B u t 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.

103,716140,440|184,188519,201 |l52,791 ;173,861

1 CO
I o

O

21

Week

*
s
l^
1
l\
J ©o
Coce ©©
to© ©©
©© MO
©© ©o
1~ 1“ 1© 1o 1© 1©
■si
© ©
©
©
■si
© ©
*s|
©
1® 1® |(© 1® 1© |® 1© 1© 1 © |©
©m

I 1 o© © f
1 1 1£ t-P

00

•1
©52

Frida
Sept.

11
! 1

M
_*

©© © ©
Co © 4i»-sl * 1
©© CO4^ 4l
e©
©s 00 O 1
E1
© O © © ©00 •vl *sl
1© |© I® 1© |© 1©

COCO

1® 1© 1© 1®
MM >
—
*
-> v-at-a >-*►

o©
T®

T®

MM

I©

© ©
*sl ©
© ©

_

1©

to t o
M -si

©M

_

MM

© CO
j®

©M
©M

_

1®

MO

MM

00©
1© 1©
MM
£ 1 ©©
to H-*

©M

OM
© ©

_

© CO

CO
©
1®

J ©

© to
© ©

© M

_

Co Co
Ci©

11
! 1 -I

f©
—

MM

_

s»

♦-‘ to

to Co
© CO

1©
?
OC O
©©
©
©
mI
lUO
MM S5
©o ©O 0 © «1
s
i© 3!
O O © © © *sl 00-si ■
/
1
to to m © •si © ©00 M1
1®
I© 1©
1©
1©
1©
©M oo
©c O © ?
s
i©
©
©
©© ■
§1 © © ©00 M0C to 4s. 0 1
M© O O
O O
=1
0 1
M©
©
©^ © *sl -J
1
04
© ©
X
T©
|© 1 © 1©

MM

_

*-»M

C
5
0
C

i©

_

© Oo

SI

0© 0 1

Movement to September 27 1907.Movement to September 28
1906
----------------------------------------------- ;---------- ---------- ---------Receipts.
i Ship- I Stocks Receipts.
Ship- j Stocks
—------------------------------------------------------------------- --------------- ments.S e p t . -------- merits, Sept.
i
Week. |
Season.Week. 27.
’■ Week. Season.
Week.
28.

C
O

CO c*

■si -si
4* CO

Towns.

1®

CO4I®

51

©©
T©
O O

“

to M

©©
©
©
©©
1©

Tuesday
Sept. 24

11
11

O C

©©
“'I *vl
1©

to to
4^M

Alabama
______________________________________________________________________________________ 2,000!4,59ft
1,703;1,2971,7744,5881,2162,733
“
_____________________________________________________________________________________
. . . 8,30915,992
5,9275,1608,17723,4905,83510,073
“
____________________________________________________________________________________ 5,408!10,144
4,3032,5026,94921,5095.6126,022
Arkansas
. . . . ..
389
423
51:
859
300
483
200
426
“
________________________________________________________________________________ 1112 44 j
1342,0141,7112,80899513,011
Georgia
____________________________________________________________________________ 1,5003,764
6001,1001,9615,6452,0421,395
“
____________________________________________________________________________ 2,8007,624
1,3004,5003,5867.5622,1364,174
672,6071,7822,3144671,864
______________________________________________________________________________ ______ 16 0 ;391
“
............................................................................................................................ .............. 21,44056,878
15,00523,78916,006 50,7739,97421,359
“
______________________________________________________________________
.1.527;2,863,
9071,4443,0833,Si61,9405,537
“
____________________________________________________________________ ____________ 4,447!10,094!
3,8672,3124,66511,9953,9373,608
“
__________________________________________________________________ _ 569863
2918051,1742,580847954
K e n tu c k y , n e t ___________________________________________________________ 114254|
1021128815611325
L o u is ia n a ____________________________________________________________
.1,5482,895
1,1415,0826,75716,4194,7676,313
Mississippi _________________________________________________________ 7751,551
1787976001,9634001,223
__________________________________________________________ 9253,348
422. 1.6618001,7545001,178
“
“
________________________________________________________ . . . 2,009|2,986>
2982,8531,0002,4272001,500
“
. . . .
996!
2,189
451 2,608
1,500
4,405
1,000 2,668
“
'____________________________________________________
. . . 1,161!1,798|
5341,1362,5006,7421,5003,106
“
__________________________________________________ ___ 1,0051,1941
fcO1,7391,430.
2,7103483,148
“
________________________________________________
.1,847|2,020,1
622 ,0 2 3 '
1,0002,1163001,857
M i s s o u r i ____________________________________________ 1,5002,580
1,6642,5502,0626,7462,83910,209
North C a r o l i n a ______________________________________4931686;
350361844 2,451
876
851
O h io ___________________________________________ 2 , 1 6 6 :3,497
9748,0501,1955,654 527 9,555
South C a r o lin a ___________________________________ 508!
1,978
_______ 6126321,873 683 2,280
3,34814,5796,8058,985 3,926 10,108
T e n ne sse e ____________________________________3,163!5,283
“
____________________________________ 40180
302,426
69
82
70
654
T ex a s __________________________________ 2131,634
14-11.5921,358
6,077
1,368
2,071
“
__________________________________ ________ 200'275
125150100
230
50
180
“
________________________________ _______________________ 2,238!2,538
8991,5393,0007,3772,0003,126
“
______________________________ 300j400
100300
300
600
150
400
“
____________________________ 60,015!176,659
58,48940,181100,180 298,371
95,473 41,453
. . . ________________________600; 900
200
700
800
1,400
500
800

I®

s1

Co ©
to ©

T otal, 33 to w n s ............................................................... ................. ...................... 130,476j328,720

11
11

’►u*-u
to4^ SSI
MM
nn
©©
00© o
1© 1®

K u fa u la ,
M ontgom ery,
Selm a,
*
Helena,
Little R ock,
A lb a n y ,
A thens,
A tla n ta ,
A ugu sta ,
C olum bus,
Macon,
R om e,
Louisville,
Shreveport,
C olum b us,
G reenville.
Greenwood,
M eridian,
N atchez,
Vicksburg:,
Yazoo C ity,
St. Louis,
R ale ig h ,
C in c in n a ti,
G reenw ood,
M em phis,
INashville,
B renham ,
;Clarksville,
!Dallas,
!Honey Grove,
H o u sto n ,
.Paris,

1

a* i © ©
SI as 1 O © ©Cl
s*
IO ©
Co ©
© ■siM to
I® t© |© 1©
—
—
to
©©
©© ^ 1
^1

AT T H E IN T E R IO R T O W N S the m ovem ent— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year— is sst out
in detail below.

_

Rai
CIo:

Sept.—

R at
ClO!

Oct.—

Rai
ClO!

Nor —

J a n .—

tIrqS

Rai
ClO!

March-

Rai
ClO!
.4 vrll —

F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
lu
5
0
e
e
5 S'
5*_
233 ~2#?2W ? 2» ' t 2»
? 2 S
0 P £5 2 1as 195 h i S
1c ?
1C P
=•1yq 1
~iq zrn
^jq 3 ^
s's ! 5% a0*
5*:
§
,2
o
oq
crq
to
TO°
to aq°
iq
to *
M —
—M
—M
>
-*— H
H
*
1| “ I
-|
r !
r 1
&}g!
’
►
u
iu
iu© © CO to to M
c«
Mb
•
|© i® 1® 1© 1© i® 1® |© |® i®
1©
m

811

1906.
257,000
15,000
26,000

1905.
661,000
28,000
40,000

1904.
146,000
19,000

T o ta l G re a t B r ita in s to c k _____
S tock a t H a m b u r g ______________ _
S tock a t B r e m e n ..................... Stock a t A n t w e r p ________________
S tock a t H a v r e .
---------S tock a t M arseilles___
____
S tock a t B arce lon a .
____
S to c k a t G e n o a ..........
.. - _
S tock a t T rieste .
____________

680,000
20,000
73,000

298,000
22,000
61,000

729,000

99,000
4,000
14,000

66,000
3,000
9,000
10,000
3,000

173,000
44,000
60,000
4,000
38,000
3,000
8,000
28,000

O V E R LA N D MOVEMENT FOR T H E W E E K AND
S IN C E SEPT. 1.— We give below a statement showing the
overland movement for the week and since Sept. 1, as
made up from telegraphic reports Frida}' night.
The
results for the week and since Sept. 1 in the last two years
are as follows:
September 27—
Shipped—

T o ta l C o n tin e n ta l s t o c k s ..
T o ta l E u r o p e a n sto c k s................
I n d i a c o tto n ;*Qo;tt. for E u r o p e ___
A m e rica n co tto n a llo a t fo r E u ro p e
E g y p t,B ra z il,& c ,,a flo a t for E u ro p e
Stock in A le x a n d ria . E g y p t . _____
S to c k in B o m b a y . I n d i a ________ _
Stock in U . S. p o rts
________
Stock in U . S. In te rior to w n s _____
U . S. ex ports to - d ay _____ _________

____

109,000

37,000

44,000
4,000
5,000
16,000
6,000

269,000

158,000

220,000

197,000

949,000
80,000
188,277
1 8,000
31,000
435,000
451,309
140,440
25,228

456,000
54,000
245,031
21,000
32,000
509 ,OOP
436,935
173,861
42,919

949.000
82,000
347,000
25,000
37,000
507,000
666,965
250,461
64,513

370,000
5,000
112,000
15,000
57,000
266,000
407.552
198,611
97,048

____
2 2 ,0 0 0

____

12,000

Total visible supply__________ 2 ,,318,254 1 ,970,746 2,928,939 1.828,211
O f th e a bov e, to ta ls of A m e ric a n a n d o ther descriptions are as follows:
L iv e rp o o l s to c k ---------- b a le s .
C o n tin e n ta l stock
..
----A m e ilc a n a llo a t fo r E u r o p e _______
U . S. p o r t6 to c k s --------------U . S. in te rio r stock s.....................
U . S . ex ports to - d ay ------ —

501,000
38,000
1 66,000
188,277
451,309
140,440
25,228

177,000
23,000
99,000
245,031
436,935
173,861
42,919

591,000
37,000
178,000
347,000
666,965
250,461
64,513

89,000
5,000
86,0 0 0
412,000
407,552
198,611
97,048

T o ta l A m e r i c a n ____
___ 1 ,510,254 1 ,197,746 2,134,939 1,295,211
E a st I n d i a n . B r a z il, & c .—
L iv e rp o o l s t o c k _________________
105,000
80,000
80,000
57,000
28,000
L o n d o n s t o c k ____ ________________
15,000
28,000
19,000
8 ,0 0 0
3,000
3.000
3,000
103,000
..............
59,000
C o n tin e n ta l stock
42,000
111 ,000
8 0 ,000
I n d ia afloaX for E u ro p e ______ .
54,000
5,000
82,000
18,000
E g y p t, B r a z il,
a flo a t- ......... ..
21,000
25,000
15,000
S tock In A le x a n d r ia , E g y p t _____
31,000
32,000
37,000
57,000
435,000
S tock in B o m b a y , I n d i a . .....
509,000
507,000
266,000

tv:.,

T o ta l E a s t In d ia , & c___________ 808,000
773.000
533,000
794,000
T ota l A m e r i c a n _____ ■
__________1,510,254 1 .197,746 2,134,939 1,295,211
T o tal v isible s u p p ly . . . ___ .2 ,318.254 1,970,746 2,928,939 1 ,828,211
M id d lin g U p la n d , L iv e rp o o l_____
6 .60d.
5 .66 d.
5 .7 4 d .
5 .80d.
M id d lin g U p la n d , N e w Y o r k _____
11.75c.
9.70c.
10.60c.
10.85c.
E g p y t, G o o d B ro w n , L iv e r p o o l..
lO H d .
10H d.
8«d.
SH d .
P e r u v ia n , R o u g h G o o d , L iv e rp o o l
12.00d.
8 .4 0 d.
ll.O O d .
\9 .1 5 d.
B roach. F in e , L iv e r p o o l..
. . . 6 1 - 16 d .
5 Hid.
5 J$d. 5 i5 - i6 d :
T ln n e v e lly . (}ood. L iv e r p o o l_____
5 1-16d.
5Hd.
5^d.
S ^d-

Continental imports past week have been 64,000 bales.
The above figures for 1907 show an increase over last week
of 89,749 bales, a gain of 347,508 bales over 1906, a de<■rea.se rtf 610,685 bales from 1905, and a gain of 490,043
bales ofrfr 1904.




_

_

_

_

_

2 0 ,0 0 0

8,000

_

1907.
606,000
28,000
46,000

_

September 27—
S tock a t L i v e r p o o l________ b a le s S to c k a t L o n d o n
.......
S to c k a t M anchester
___

-1900—
S ince
Sept. 1.
10,038
’ ,839
923
322
447
632
2,918
786
294
829
1,947
1,812
3,543

Since
Sept. 1.

Week.

4,857

13,446

6.728

20,602

O v e rla n d to N . Y . , B o s to n , &c.
&c-___
411
B etw een in te rio r to
tow
wnsn s ________
________
1 83
_________ 2,478
I n la n d , & e., fro m S o u t h _______

975
321
6,290

395
46
357

929
186
2,943

V ia
V ia
V ia
V ia
V ia
V ia
V ia

TJVefc.
S t. L o u is ____ . .
__
1.664
C airo
______
25
R o c k Is la n d
____
-- . 77
L o u is v ille _ .
. „_
1.183
____ 614
C in c in n a ti _ ___
V ir g in !a p o in ts ...
. . ____
248
o th e r ro u te s. & c................ ......
1.046

T o ta l gross o v e r la n d ____________

Deduct shipments—

4,342
690
178
3,067
1.005
812
3.351

_ _
T o ta l to be d e d u c te d ___ _________

3,072

7,586

798

4,058

v e r la n d-a_ a ________
L e a v in g to ta l net o verland
.

1,785

5,860

5.930

16,544

a In c lu d in g m o v e m e n t b y ra il to C a n a d a .

The foregoing shows the week’s net overland move
m ent has been 1,785 bales, against 5,930 bales for the
week last year, and th a t for the season to date the aggre
gate net overland exhibits a decrease from a year ago of
10,684 bales.
In Sight and Spinners’
Takings.

------ 1007------ -------- 1906------

Week.

Since
Sept. 1.

Since

514,175
5,860
189,000

275,149
5.930
47,000

W eek.

Sept. 1.
674 ,576
16,544
188,000

26.760

709,035
59,857

328,079
31,397

879,120
77,585

C a m e in to sig h t d u r in g w eek. ____ 298,657
T o ta l In sight S e p t. 2 7 -----

768,892

---

956,705

N o r th , spin n ers’ ta k in g s to Sept 2 7 . 28,864

77,116

29,301

90,957

R eceipts a t ports to S ept. 2 7 ___ _____ 2 2 1 . 1 1 2
N e t ov e rla nd to S e p t. 2 7 _______ ....
1.785
.Southern c o n s u m p tio n to S ept. 2 7.
49.000
T ota l m a rk e te d . . _____
In te r io r stocks in excess ............

359,476

Movement into sight in previous years
Week—
1905—
1904—
1903—
1902—

Bales. |. Since Sept.
1—
Bales.
S e p t. 2 9 .................... . .3 82 ,68 3 i 1905— S ept. 2 9 . ........... ...........1,246,910
S ept. 3 0 _______________553,080| 1904— S ept. 30-......................1,373,847
O c t.
2 ____ __________379 .88 7,1 90 3 — O c t.
2 _____________
902,902
O c t.
3 ____________
422,65611902— O c t.
3 ....................... 1,458,440

812

[V o l .

THE CHRONICLE.

lxxxv

.

Helena, Arkansas.— Cotton is opening rapidly. Weather
fine. There has been rain on one day during the week, the
precipitation being ninety-seven hundredths of an inch.
Average thermometer 72, highest 92 and lowest 52.
Little Rock, Arkansas.— Cotton is opening rapidly on sandy
lands, owing to hot weather. Complaints of rust appearing
C losing Q uotations fo r M id d lin g Cotton on—
Week en din g j-----------------------------------------------are coming in from m any points and shedding is also referred
Sept. 27.
| S a t ’d a v . j Monday.\ Tuesday. W ed'day. T hursd’y .i F r id a y .
to. There has been no rain during the week. The ther
12 %
G a lv e s to n
1 2%
12 %
___ 12%
12%
mometer has averaged 74, the highest being 94 and the
N ew O r le a n s ___ U V t
11 ^
11%
11%
U 'A
lowest 54.
1 1%
M o b ile - _______ UJ-2
11^8
11%
11 X
11 H
11
7-16
11%
S a v a n n a h _____ 11%
11^
u%
11%
Memphis, Tennessee.— Fine weather for m aturing and
12% @ % 11 %
C h a r le s to n _____
1214
gathering cotton. Picking is general. We have had rain
iix
W i lm i n g t o n ____ 11 x
11%
11%
U %
11H
N o r f o l k _______ 12
on one day during the week, the rainfall being five hun 
11%
U %
11 H
11%
11.80
11.90
11.90
11.90
12.25
12.20
B o s to n
-dredths of an inch. The thermometer has averaged 73.5,
12
12%
12 %
B a l t i m o r e _____ 1 2 ^
12 Ks
12 34
12.05
12.00
ranging from 52.5 to 90.7.
12.15
12.15
12.15
P h ila d e lp h ia . - 12 45
11 7-16
11 7-16
A u g u s t a ________ 11 11-16 1 1 ^
11%
11%
Nashville, Tennessee.— It has rained during the week, the
12
12
12
12
M e m p h is ______ 12%
11%
rainfall being fifty-eight hundredths of an inch. The ther
12
12
12
12
S t. L o u i s _____ 1 2 «
12
12
E2
12
H o u s t o n _______ 12%
11
11%
mometer has ranged from 47 to 90, averaging 69.
11 %
11%
L it tle R o c k ____ U K
u%
1 1%
1 1%
Mobile, Alabama.— Heavy rains occurred in the interior in
the early part of the week, but cotton picking made fair
N E W O R L E A N S O P T IO N M A R K E T .— The highest, progress during the latter portion. Reports of crop deteri
1 >west and closing quotations for leading options in the New oration are increasing and the yield is disappointing. We
Orleans cotton market for the past week have been as follows: have had rain here on three days the past week, the rainfall
being three inches and sixty-six hundredths. Average ther
S a t'd a y , M o n d a y , Tuesday, W ed'day, Thursd'y, F r id a y ,
Sept. 21. S e p t. 23. Sept. 24. Sept. 25. Sept. 26. Sept. 27.
mometer 78, highest 90, lowest 68.
Montgomery, Alabama.— Cotton in this section is consider
Sevtem ber—
ably off. I t has rained on six days of the week, the rainfall
R a n g e _______ — @ — — @ — — @ — 11.30- .31
C lo s in g _______ 11.33 — 10.95 — 11.07 — X l.31 — -- -- -- — — —
being one inch and one hundredth. The thermometer has
•
October—
averaged 76, the highest being 88 and the lowest 59.
R a n g e _______ 11 1 9 .3 4 10.88- .11 10.86-.02 10.96- .07 10.99-.11 10.87-.10
C lo s in g _______ 11.27-.28 10.90- .91 1 0 .9 3 .9 4 11.07 .08 10.99-.00 11.07-.08
Madison, Florida.— There has been rain on three days
November—
during the week, the precipitation being two inches and
— @ —
— @ — — @
Range @ — — @
C lo s in g ----- 1 1 .2 8 .3 0 10.88- .89 10.92 — 11.04 __ 10.93 — 10.94 —
twenty-five hundredths. Average thermometer 80, highest
E>ecember—
87 and lowest 72.
R a n g e _______ 11.17-.32 10.86- .10- 10.83-.01 i o . g i  .13 10.98-.15 10.83-.08
C lo s in g _______ 1 1 .2 6 .2 7 10.87- .88 10.91-.92 l l . 12- .13 11.00-.01 11.00-.01
Augusta, Georgia.— There has been rain on two days during
■January—
the week, the precipitation being thirty-four hundredths of
R a n g e _______ 11.19-.35 10.89- .13 10.85-.03 11.01- .17 11.02-.20 10.88-.12
C lo s in g _______ 1 1 .2 9 .3 0 10.90- .91 1 0 .9 4 .9 5 11.16- .17 11.04-.05 11.03-.04
an inch. The thermometer has averaged 89, the highest
M a rc h—
being 63 and the lowest 77.
R a n g e _______ 1 1 .3 8 .4 9 11.03 .29 11.04-.17 11.20- .33 1 1 .2 0 .3 3 11.07-.21
Savannah, Georgia.— There has been rain on three days
C lo s in g _______ 11.43-.44 11.04 .06 11.09-.10 11.32- .33 1 1 .1 9 .2 1 11.19-.21
M ay—
during the week, the precipitation being forty-six h u n 
.32 11.17-.19 11.30- .32 11.35-.50 11.15-.30
R a n g e _______ 1 1 .5 3 .5 4 —
dredths of an' inch. The thermometer has averaged 78,
C lo s in g _______ 11.52-.53 11.12 .14 11.21-.23 11.45- .47 11.30-.32 1 1 .2 9 .3 1
Tone—
ranging from 68 to 88.
F irm .
E asy.
Q u ie t.
S p o t __________
S te a d y . S te a d y .
Q u ie t.
Charleston, South Carolina.— W e have had rain on four
O p t i o n s ______ B ’ly s t’y. S te a d y . V ’y s t ’y. V ’y s t ’y. B ’ly s t ’y . V ’y s t’y .
days of the week, the rainfall being forty-four hundredths of
an inch. The thermometer has ranged from 66 to 94,
W E A T H E R R E P O R T S B Y T E L E G R A P H .— Our tele
averaging 79.
graphic reports from the South this evening indicate th a t,
Stateburg, South Carolina.— R ain this week very beneficial.
in the m ain, the weather has been fairly favorable during W e have had rain on two days of the week, the rainfall being
the week. R a in has been quite general, b u t, on the whole, fifty-seven hundredths of an inch. The thermometer has
averaged 76, the highest being 89 and the lowest 58.
the precipitation has been moderate or light. ,Picking has
Charlotte, North Carolina.— W e have had rain the past
m ade good progress a t most points and the movement of week, the rainfall being one inch and ninety-five hundredth s.
the crop has been on a more liberal scale. There are com The thermometer has averaged 71, ranging from 53 to 88.
Ardmore, Indian Territory.— Crop prospects in this sec
plaints of deterioration from points in Alabam a.
Galveston, Texas.— Picking has progressed well under the tion are fairly good,and with a late fall the crop is expected
week's favorable weather. R a in has fallen on three days to be a little larger than last year.
The following statement we have also received by tele
•of the week, to the extent of sixty-nine hundredths of an
inch. The thermometer has ranged from 76 to 96, aver graph, showing the height of rivers at the points named
at 8 a. m . of the dates given:
aging 84.

Q U O T A T IO N S F O R M ID D L IN G COTTON AT O T H E R
M A R K E T S .— Below are the closing quotations of m id dlin g
cotton at Southern and other principal cotton markets for
each day of the week.

Abilene Texas.— R ain has fallen on one day during the
week, the rainfall reaching forty hundredths of an inch.
Average thermometer 81, highest 96 and lowest 66.
Brenhayn, Texas.— Dry all the week. The thermometer
has averaged 82, the highest being 92 and the lowest 61.
Corpus Christi, Texas.— We have had rain on three days
during the week, the precipitation reaching seventy hun
dredths of an inch. The thermometer has averaged 80,
ranging from 72 to 88.
Dallas, Texas.— R ain has fallen on one day of the week, to
the extent of thirteen hundredths of an in c h . Average ther
mometer 83, highest 103, lowest 63.
Huntsville, Texas.— There has been no rain the past week.
Thermometer has ranged from 68 to 93, averaging 81.
Kerrville, Texas.— R ain has fallen on one day the past
week to the extent of four hundredths of an inch. Average
thermometer 79, highest 100, lowest 58.
Lampasas, Texas.— I t has rained on two days of the week,
the rainfall being one inch and twenty-nine hundredths.
The thermometer has averaged 81, the highest being 100 and
the lowest 62.
Longview, Texas.— We have had no rain the past week.
The thermometer has averaged 85, ranging from 62 to 97.
Palestine, Texas.— R a in has fallen on one day during the
week, to the extent of eight hundredths of an inch. The
thermometer has averaged 80, the highest being 94 and the
lowest 66.
Paris, Texas.— We have had no rain during the week.
The thermometer has averaged 80, ranging from 58 to 101.
San Antonio, Texas.— I t has rained on three days during
the week, the rainfall being fifty-six hundredths of an inch.
The thermometer has ranged from 66 to 98, averaging 82.
New Orleans, Louisiana.— We have had rain on'three days
du ring the week, the precipitation reaching forty hundredths
o f an inch. The thermometer has averaged 78.
Shreveport, Louisiana.— Dry weather has prevailed all the
week. The thermometer has ranged from 68 to 98, averaging
83.1
'fcVicksburg. M ississippi.— We have had rain on three days
d uring the week, the rainfall being eleven hundredths of an
inch. The thermometer has averaged 76, the highest being
00 and the lowest 60.




N ew O rle ans
________ A b o v e
M e m p h i s _______________ A b o v e
N a s h v ille _______________ A b o v e
S h re v e p o rt______________A b o v e
V ic k s b u r g ______________A b o v e

zero
zero
zero
zero
zero

of
of
of
of
of

gaugegauge.
gauge.
gauge.
gauge.

Sept. 27 1907.
Feet.
4 .8
9.9
9.9
1.4
12.6

Sept. 28 1906.
Feet.
7.1
9.1
11.6
10.2
14.1

IN D IA COTTON M O V E M E N T F R O M A L L P O R T S .—
The receipts of cotton at Bombay and the shipments from all
In d ia ports for the week and for the season from Sept. 1 for
three years have been as follows:
September 26.
Receipts a t—

1906.

1907.
Week.
9,000

1

Since
Sept. 1.

Week.

5,000|

31,000

B om bay—
1907----------1906 _____________
1905_____________
C a lc u tta —
190 7 ______________
1906_____________
190 5
.............
M a d ras—
1907______________
190 6
1905-------- -A ll others—
1907______________
1906_____________
1 90 5.- - .................
T o ta l a ll—
1907_____________
1906.
_ _____
1 9 0 5 . ______ -

C o n ti
Great
B rita in . nent.

1.000

16,000

Total.

5,000
7,000
1,000

5,000
7,000
2,000

1 ,000
1,000

1,000
1,000

____

____

1,000
3*000
4,000
6,000
11,000
6,000

Great
B r it a in .

____
1,000

6,000

I S ince
Sept. 1.
33,000

C o n ti
nent.

Total.

43,000
35,000
15,000

43,000
36,000
22,000

4,000
2,000
2,000

5,000
2,000
2,000

_______

3.000
2.000
1,000

3.000
2.000
1,000

1,000
3,000
4.000

3,000
1,000
............

12,000
15,000
17,000

15,000
16,000
17,000

6,000
11,000
7,000

4.000
2,000
7,000

62,000
54,000
35,000

66,000
56,000
42,000

1,000
7,000
1,000
_______

---

---

Week.

Since. September 1.

F o r t,he Week.
E x ports from —

1905.

I S ince
|S ept. 1.

JU T E BUTTS, B A G G IN G , ET C.— The m arket for jute
bagging has been very quiet during the week, and prices
nom inally unchanged at 9% c. for 2 lbs., standard grades.
Jute butts dull at 3@4c. for bagging quality.

S e p t . 28 1907. ]

THE CHRONICLE

W O R L D 'S S U P P L Y A N D T A K IN G S O F CO TT ON.—
The following brief b u t comprehensive statement indicates
a t a glance the world’s supply of cotton for the week and since
Sept. 1, for the last two seasons, from all sources from which
statistics are obtainable; also the takings, or am ount gone
out of sight, for the like period.
C o tto n T a k in g s .
W e e k a n d Season.

1907.
Week.
2,228,505

1906.

Season.

1,794,365

Season.

359,476
5.000
4.000
9,300
11,000

1,784,156
956,156
16,000
20,000
15,300
35,000

2,556,162

3,157,736 2,183,141

2.827,161

D educt—
V isib le s u p p ly S ept. 27__________ 2.318,254

2,318,254 1,970.746

1,970,746

V isib le s u p p ly S e p t. 1 --- . ---A m e ric a n in sight to S e p t. 2 7.B o m b a y receipts to S ept. 2 6 ___
O th e r I n d ia s h lp ’ts to S ept. 2 6 . .
A le x a n d ria receipts to S e p t. 2 5 .
O th e r s u p p ly to S e p t. 25 . a ____

T o ta l ta k in g s to S ept. 27- _
O f w h ic h A m e r ic a n ___ -_____
O f w h ic h o th e r . _______ ______

298,657
9.000
1.000
12,000
7,000

237.908
153.908
84,000

2 291,844
768,892
31.000
23.000
23.000
20.000

Week.

839.482
594.482
245,000

212,395
163,095
49,300

856,415
657,115
199,300

a E m braces receipts in E u ro p e fro m B ra z il, S m y r n a , W e s t In d ie s , &c.

COTTON G R O W IN G IN A U S T R A L IA TO B E E N 
C O U R A G E D .— W riting from Melbourne under date of
August 7th, the correspondent of the Manchester (Eng.)
“ G uardian” says:
T he proposal o f the C o m m o n w e a lth G o v e rn m e n t to g ra n t a b o nu s o f
£G ,00 0 per a n n u m fo r eig h t years on g in ne d c o tto n , based on 1 0 % of the
m a rk e t p rice, has been d e b a te d In th e H ouse of R e p re se n ta tiv e « a n d passed
b y 36 votes to 9. T he v ote show ed th e desire c f th e pe ople’s C h a m b e r to
give th e A u s tra lia n c o tto n in d u s tr y a n o th e r chance u n d e r w h ite la b o r con
d itio n s .
The chief criticism s concerned the a m o u n t of th e bonus a n d the
c harac ter of the la b o r to be e m p lo y e d . Assurances w ere, how ever, given
t h a t w hite la b o r w o u ld be organized to assist farm ers’ fam ilies d u rin g the
p ic k in g season, a n d t h a t th e b o u n ty w o u ld be sufficien t to test th e g e nu in e
ness o i the re v iv a l o f th e in d u s try , a n d th u s pa v e th e w a y to larger en te r
prises.
M r. R . A . C rouch said t h a t d u r in g th e recent P a rlia m e n ta ry v is it to the
N o rth e rn T erritory he gathered c o tto n w n ic h w as g ro w in g w ild o n th e A d e 
la id e R iv e r , a n d , on show in g some o f It to a M r. H a ig , a c o tto n s p in n e r c a r
ry in g on business u p o n a n extensive scale in M anchester,w as to ld b y h im
t h a t th e staple was lo n g a n d of fa ir q u a lit y , a lth o u g h it was som e w hat
ro u g h .
H e was surprised to t h in k t h a t such c o tto n grew w ild in th e n o rth
a n d prom ised to b r in g the fa ct to th e a tte n tio n o f th e C otton - G ro w in g
A ssoc iation of L ancashire .
T he G o v e rn m e n t's fu rth e r b o nu s p ro p o sa l, p r o v id in g a g ra n t o f £ 1 ,0 0 0 a
y ear on cottonseed fo r e ig h t years, based o n 1 0 % o f th e m a rk e t v a lu e ,
was agreed to a fte r a prote st fro m a sm a ll m in o rity .
T he H ouse of Repre
se ntatives has n o w v o ted £5 6 .0 0 0 fo r th e c o tto n In d u s try .
The b ill w ill
com e before the S enate s h o rtly , a n d w ill p r o b a b ly pass b y s m a ll b u t suffi
c ie n t m a jo ritie s.

COTTON C U L T U R E IN A S IA M IN O R .— Consul E . L.
Harris, communicates with the Departm ent of Commerce
and Labor as follows:
T he gro w ing o f c o tto n In th e L e v a n t was first established on a large scale
d u r in g the c o tto n fa m in e c onsequent u p o n the A m e ric a n C iv il W a r .
W hen
peace was p ro c la im e d a n d A m e ric a n c o tto n began once m ore to s u p p ly the
m a rk e ts of th e w o rld , th is great staple p ro d u c t d id n o t c o n tin u e tc And
m u c h fa v o r a m o n g th e pla n te rs o f A sia M in o r, for th e reason t h a t It was
fo u n d m ore p ro fita b le to p la n t vines in ste ad . A s a re s u lt, th e p r o d u c tio n
o f c o tto n in th is d is tric t has gre atly fa llen off, la st year n o t m ore th a n 32,000 bales of 440 p o u n d s each be ing p ro d u c e d . T he prospects fo r th e pres
e n t year are. how ever, very m u c h b e tte r, a n d it is hope d t h a t 40,000 bales
m a y be pro d uc e d .
Two k in d s o f c o tto n are grow n in th is d is tric t, w h ic h differ In several es
se ntials. There is w h a t Is k n o w n as n a tiv e c o tto n , or c o tto n grow n from
n a tiv e seed, a n d w h ic h produces a staple w h ic h varies fro m 23-32 to 31-32
o f a n Inch In le n g th .
C o tto n grow n from A m e ric a n seed produces a longer staple th a n th e n a 
tiv e p la n t, Its average le n g th here being 1 2-3 inches in le n g th .
D espite
th e fa c t t h a t it sells a t 5 % highe r th a n the n a tiv e c o tto n , o n ly a b o u t 10 %
o f th e w hole crop is o f A m e ric a n seed. The reason for th is is th a t fresh
seed has to be Im ported a t least every tw o years, otherw ise the p la n ts soon
de te riora te a n d produce no b e tte r co tto n th a n d o th e n a tiv e p la n ts .
A fte r being gathered in th e m o n th of O c to b e r, th e c o tto n is a lm o st a ll
t a k e n to the factories in th e in te rio r, n e a r where Is Is g ro w n , to be g in ne d
a n d husked before s h ip m e n t to S m y r n a .
A fte r g in n in g , th e c o tto n is
h y d r a u lic a lly pressed In to bales, each c o n ta in in g a b o u t 440 p o u n d s.
O f th e 32,000 bales o f c o tto n produced in th is d is tric t, a b o u t 6,000 are
used in a local y arn m ill, w hic h e m p loys a b o u t 10,000 spin dle s.
A w ea v 
in g m ill is be ing n o w established in th e island o f M ity le n e , a n d it is expected
t h a t It w ill give a n im p e tu s to th e c o tto n gro w in g there , o n ly a b o u t 1,000
bales be in g pro d uc e d a n n u a lly o n the lU a n d .
T he balance o f th e c o tto n Is e x p o rte d , chiefly to I t a ly a n d B a rce lon a.
C o n s ta n tin o p le a n d S a lo n lc a , in b o th o f w h ic h cities there are y a rn m ills ,
d r a w p a r t of th e ir supplies of raw c o tto n from S m y r n a .
The o u tlo o k for
c o tto n gro w ing in the V ila y e t o f S m y r n a Is b r ig h t. There Is a te n d e n c y on
the p a r t of E n g lis h a n d G e rm a n c o tto n dealers to e m a n c ip a te them selves
fro m A m e ric a n c o tto n w herever possible.
D u rin g th e c o tto n congress held
a t B re m en In J u n * 1906, a n d a t the one held in V ie n n a th is y e a r, speeches
were m a d e in fa v o r o f ex ertin g every possible effort to increase tne o u tp u t
o f c o tto n in the E n g lis h a n d G e rm a n colonies, a n d especially In A sia M in o r
The c o n d itio n s for gro w ing c o tto n In th is c o u n tr y are ex trem e ly fa v o ra b le .
E u ro p e a n c ap italists a n d c o tto n dealers In th e ir ow n Interests w ill see to it
t h a t the n u m b e r of p la n ta tio n s in these p a rts increase.
L a b o r Is cheap a n d
th e T urk ish p e asa n t m akes a good w o rk m a n .
I t is a n irreslst'ble law of
econom ics t h a t c o tto n m ills g ra v ita te to th e p o in t of p r o d u c tio n o f raw m a 
terials. A sia M in o r In th is respect is no ex c e p tio n , as Is a m p ly show n by
th e n u m b e r of m ills a lre a d y e sta blishe d. In process of c o n s tru ctio n or being
p r o je c te d .

COTTON C R O P IN M E X IC O .— Consul Charles M. Free
m an of Durango, writing to the Departm ent of Commerce
and Labor upon the effect of the drought upon the crops
of Mexico, refers to cotton as follows:
L a s t year th e c o tto n crop of M e xico, or a t least o f th e L a g u n a d is tric t,
w h ic h Is th e p r in c ip a l c o tto n gro w in g d is tric t of th e c o u n tr y , was th e largest
In the histo ry of the In d u s try .
T he latest es tim a te of those th o ro u g h ly c o n 
versan t w ith c o n d itio n s In th is d is tric t is t h a t the n u m b e r o f bales raised
tills year w ill n o t be m ore th a n one-quarter of last year’s crop. There
w ill be no second p ic k in g , d u e to th e d r y w ea th er c o n d itio n s h a v in g caused
th e bo lls to d ro p fro m th e p la n ts .
T his a ll m eans a serious loss to th e d is tr ic t, of w h ic h Torreon Is th e fin a n 
c ia l center, a n d whose b a n k s fu rn is h c a p ita l for the prosecutio n of th e In 
d u s tr y , n o t o n ly a loss th ro u g h th e s m a lle r q u a n tit y of c o tto n raised, b u t a
general loss w h ic h n a t u r a lly arises w hen a large n u m b e r o f laborers hav e to
seek e m p lo y m e n t in o ther v o c atio n s a n d in o th e r lo c atio n s.
I t Is said
t h a t the p la n te rs w ill n o t lose m o n e y , b u t t h a t s im p ly m ean s th a t th e pres
e n t crop w ill be s u fficie n t to p a y th e b a n k s fo r m on ey a d v a n c e d on gro w ing
c o tto n .
T his in d u s try , d e p e n d in g , as It does, a lm o s t w h o lly u p o n Irrig a tio n ,
w ill n o t o n ly suffer th is y e a r, b u t n e x t as w e ll, unless a b u n d a n t rains soon
a rriv e , because th e ra in fa ll of th e w et season is stored In th e Irrig a tio n
reservoirs, there to be u tiliz e d , n o t th is y ear, b u t th e fo llo w in g season.
M exico, never ra isin g en ou gh c o tto n to keep her spindles b u s y , m u s t look
to th e U n ite d S tates to s u p p ly th is Increased shortage.




813

The p la n te rs w ill n o t get m ore th a n one- quarter of th e usu al crop.
If
r a in w o u ld soon com e It m ig h t save s o m e th in g , b u t t h a t w o u ld d e pen d on
a late frost. The s itu a tio n Is c r itic a l, th e b a n k s are d r a w in g in th e ir loa us
a n d m a k in g no n ew ones; m o n e y c a n n o t be h a d a t less t h a n 2 pe r c en t pe r
m o n th .
T he fa ilu re o f the crops causes th e b a n k s to carry th e fa rm e rs
u n t il n e x t y e a r, a n d as th is o p e ra tio n in vo lv es m illio n s o f d o llars, it h a s
caused a very serious strin gen cy in the m o n e y m a rk e t. T he effect w ill be
t h a t business In a ll lines w ill suffer, fo r th e pe ople w ill n o t ha v e as m u c h
m o n e y to spe nd . T here is a good d e al o f la st y e a r’s c o tto n on h a n d n o w
b e in g sold a t a h ig h p rice, w h ic h is a b o u t th e o n ly t h in g t h a t Is h e lp in g o u t
th e s itu a tio n .

C O T T O N -G R O W IN G IN C O L O M B IA .— Consul P, P .
Demers, of Barranquilla, writes to the Departm ent of C om 
merce and Labor on cotton-growing in Columbia as follows :
The crop th is y ear has been be y o nd e x p e c ta tio n , w h ic h fa c t has h a d tn
re sult of c rea tin g a n o p tim is tic v iew as to fu tu r e possib ilities, a n d every
b o d y in th is v ic in ity is n o w b e n t on gro w in g c o tto n .
T he ce n tral go v e rn 
m e n t In B o g o ta has p u t its sh o u ld e r to th e wheel b y e s ta b lis h in g a n a g ro 
n o m ic a l sta tio n in A p u lo for th e purpose o f e x p e rim e n tin g o n th e differe nt
v arietie s of c o tto n .
I t has ju s t im p o rte d large q u a n titie s o f seeds fr o m
P e ru , w hose c o tto n is re puted to be one of the best in th e w o rld , a n d Is
d is tr ib u tin g th e m free th ro u g h o u t th e c o u n tr y to w hom so ever w ill p la n t
th e m .
A b o u n ty o f $1, g o ld , pe r q u in t a l (110 po u nd s) has been decreed
o n a ll n a tiv e c o tto n g in ne d a n d pro perly ba led fo r d o m estic c o n s u m p tio n
u n t il O c t. 1 1908, a n d o n a ll such c o tto n g in ne d a n d b a le d fo r e x p o r t u n t i l
O c t. 1 1910. T his su b v e n tio n is a t present e q u iv a le n t to one-third o f th e
price w h ic h th e farm ers hav e been g e ttin g fo r th e ir p ro d u c ts .
I t m ean s to
th e m a raise of 3 3 % , a n d c a n n o t he lp g iv in g th e in d u s try a tre m e n d o u s
b o o m . There are o n th is coast some 50,000 square m iles of la n d a v a ila b le
fo r c o tto n gro w in g , a n d th o u s a n d s o f good fa r m h a n d s , w ho are to-day
a lm o s t id le , a n d c o uld be hired fo r fro m 40 to 60 cents per d a y .
T he reports w h ic h I have fro m th e v a rio us glnners show th e la st crop
a ro u n d B a r r a n q u illa to hav e been 4,310 bales of 140 p o u n d s each, w ith
10,168 sacks of c o tto n seed o f 132 p o u n d s each.
T his is a n Increase o f
m ore th a n 200 % ov er th e crop of 1906.
E x c e p t fo r a few bales c onsum ed
in C o lo m b ia in local m a n u fa c tu re s , th e entire crop was m a rk e te d in H a v re ,
L iv e rp o o l a n d H a m b u r g , H a v re h a v in g th is year p a id th e best prices, to w it,
71 francs per 50 k ilos, e q u iv a le n t to 1 2 y2 cents pe r p o u n d .
T he seeds
ha v e been m ark e te d In L iv e rp o o l a t $37 per to n .
The w hole A t la n t ic C oast of C o lo m b ia to some 80 m iles to w a r d th e
In te rio r is a d a p te d to th e c u ltiv a tio n of c o tto n .
I t Is a sa n d y a n d v e ry
calcareous la n d , a n d th e c lim a te Is d r y , w ith o u t a n y ra in fro m D ecem b er
t ill M a y a n d m o d era te fro m M a y to D ecem ber.
N o irrig a tio n Is used.
T he
b e g in n in g o f th e ra in y season, ge ne rally A p r il a n d M a y , is chosen fo r t h e
sow in g, in ord er to fa c ilita te th e g e rm in a tin g .
I f th e sprin g is d r y , th e
sow ing takes place in S e p te m b e r, a n d th e ha rv est follow s a c c o rd in g ly ,
generally fro m D ecem ber to A p r il.
O ne p la n t gives fro m 2 to 6 p o u n d s of
c o tto n , b u t som etim es as m u c h as 10 p o u n d s gross. T he seeds are sown
a b o u t 6 feet a p a r t, 2 or 3 inches deep a n d 4 or 5 seeds to th e h ill.
There
is n o p lo w in g of a n y k ln d d o n e , b u t th e la n d Is first b u rn e d over, a fte r w h ic h
th e seeds are pressed d o w n w ith a stic k .
T his, to g ether w ith tw o m a ch e te
cleanings per season, com prise th e entire c u ltiv a tio n ; very p r im itiv e , in 
deed.
B etw een th e rows are fre q u e n tly p la n te d m a iz e , y u c ca a n d even
“ g u a n d u l” (a species o f le n til designed fo r p a stu ra g e ).
T he best c o tto n la n d s in th is d is tric t are those ly in g in th e v ic in ity of
T u b u r a , where p e tro le um Is fo u n d , a n d S ltio V ie jo , on th e M a g d a le n a
R iv e r .
T ra n s p o rta tio n from th e v a rio u s centres to th is c ity is b y d o n k e y
b a c k o n fa irly good b rid le p a th s .
W h e n e v e r th e rains hav e been m ore or
less a b u n d a n t before th e blo ssom in g th e staple is lon g a n d elastic; o n th e
o th e r h a n d , if there has been a d r o u g h t d u r in g t h a t In te rv a l, th e staple Is
shorter a n d m ore b r ittle .
There are no re gular c o tto n p la n te rs In C o lo m b ia w h o th o ro u g h ly u n d e r 
s ta n d Its c u ltiv a tio n .
The crops are raised b y a n in fin ite n u m b e r o f
“ peone s" (lab o re rs), w h o ow n th e ir s m a ll pieces of la n d or are sq u a tte rs
on G o v e rn m e n t la n d s . A lm o s t In v a r ia b ly m o n e y is a d v a n c e d to th e m
b y th e B a r r a n q u illa exporters on th e se curity of th e ir crops, fo r w h ic h th e y
are p a id on the spot fro m 75 cents to $1 pe r a rro b a (25 p o u n d s ), p ic k e d ,
a cc ord ing to the cleanness o f sam e.
A good p a r t of th e la st crop has been
sold a t the la tte r price. A s a rule th e c o tto n Is very d ir ty , a n d t h a t m a 
te ria lly affects its m a rk e tin g in E u ro p e .
T he gins are ow ned by the buyers a n d exporters, w h o , w hen g in n in g for
others, charge $1 50 pe r q u in t a l, n e t.
The results of th e g in n in g give oneth ir d fibre a n d tw o-thirds seed in w e ig h t.
F re ig hts to E u ro p e a n p o r t f
average 1 5 % a d v a lo re m on c o tto n a n d a b o u t 3 0 % o n seed.
A q u in t <•
o f c o tto n costs th e ex porte r, f .o .b . B a r r a n q u illa , $9, m ore or less, fo r w h ic h
he gets fro m $11 to $13 in E u r o p e , a cc o rd ing to its c o n d itio n . W i t h t h e
in d u c e m e n ts n o w offered b y th e G o v e rn m e n t there w ill be a large increase
in th e q u a n titie s raised.
There w ill also be c o m p e titio n a m o n g th e b u ye rs,
w ith re s u lta n t b e tte r da y s to th e fa rm e r, w h o , in th is c o u n tr y , is m ore or
less a hapless b e in g , a t th e m ercy o f th e m e rc h a n ts . The class of c o tto n
raised in C o lo m b ia to-day is th e E g y p tia n , a p p a re n tly sup erior to t h a t
grow n in o u r S o u th e rn S tate s. The P e r u v ia n is p la n te d th is y ear to a
great ex te n t a n d prom ises to surpass In q u a lity th e one n o w in use.
L a b o r
ers here are n o t a d a p te d to c o tto n p ic k in g .
I n v iew of t h a t it has been
suggested to th e G o v e rn m e n t t h a t a n A m e ric a n e x p e rt, to g e th e r w ith a lo t
of negroes fro m th e S o u th e rn S ta te s , be secured fo r th e purpose of ru n n in g
e x p e rim e n ta l fa rm s a n d e d u c a tin g the C o lo m b ia n h a n d s In th e prem ises.
There are five gins in th is c ity , a ll A m e r ic a n , b u t It w o u ld seem t h a t th e y
were discarde d ones In th e S ta te s d u m p e d over here.

N E W Y O R K Q U O T A T IO N S F O R 32 Y E A R S .
The quotations for* m iddling upland at New York on
Sept. 27 for each of the past 32 years have been as follows:
1 9 0 7 .c _ .
1906____
1905. . .
1904 - .
1903____
1902____
1901____
1900____

..1 1 .7 5 1 1 8 9 9 .c . . . . .
. . - 9.70 1898____ . .
..- 1 0 .9 0 1897_____ . .
.--10.90 1896______ . .
-.-11.25 1895_____ -.
9.00 1894_____ ._
--- 8.25 1893_____ __
. ..1 0 . 7 5 1892______ . .

6.88
5.38
6.62
8.44
8.88
6.50
8.12
7.56

1891_ c . .
- 8.58
1 89 0- - .-T. .1 0 .3 8
1889_____ .1 1 .1 2
10.44
1888_____
1887______ - 9.62
1886_____ - 9.44
1885______ -10.06
1884_____ .1 0 .2 5

1883-C___ - .1 0 .6 2
188 2 ____ ___12.00
1881 __ ___12.00
1880____ . . -11.88
1879 ____ --.10.88
1878____ --.10.94
1877____ ---11.38
1876____ - ..1 1 .1 2

E G Y P T IA N COTTON C R O P .— The Alexandria Produce
Association in its resume of answers received in August says:
The te m p e ra tu re d u rin g th e m o n th has been v ery fa v o ra b le , a n d un d e r
Its Influence th e c o tto n p la n t has m a d e good progress. T he present c o n 
d itio n s of th e crop are such t h a t p ic k in g everyw here w ill v ery lik e ly c o m 
m ence b y S ep te m b e r 10. T he first pic k in g s also prom ise to be a b u n d a n t.
W o rm s , except in a few u n im p o r t a n t localities, ha v e n o t been n o te d d u r in g
A u g u s t, a n d in every case the d a m a g e ,if a n y , is in sig n ific a n t.
L ig h t fogs
have m a d e a n a ppea ra n ce , b u t th e y hav e been of short d u r a tio n a n d have
d o n e n o ap p re cia b le h a rm to th e c ro p . W a te r has been su fficie n t in U p p e r
E g y p t.
P ic k in g Is proceeding ra p id ly everyw here, a n d the results o f the
y ie ld per acre seem to give sa tisfa c tio n . I n th is p a r t of th e c o u n try also
w orm s a n d fogs have le ft th e crop u n d a m a g e d so far.

In connection with the foregoing the following, from the
Alexandria correspondent of the “ Manchester (Eng.) G uar
dian ,” is of interest:
“ The A le x a n d r ia P ro d u c e A sso c iatio n has p u b lis h e d a s ta te m e n t of the
acreage of th is y e a r’s E g y p tia n c o tto n cro p , based o n th e rolls o f th e M in 
istry of F in a n c e for purposes of ta x a tio n .
The ta b le Increases th e a lre a d y
w o n d e rfu l prom ise of th e crop.
The acreage sow n in 1,289,315 fe dda n s In
L ow er E g y p t a n d 313,956 In U p p e r E g y p t.
T he Increase over la st y ear is
67,000 fe dda n s in U p p e r E g y p t a n d 29,000 in th e D e lta .
T he p r o p o rtio n
for th e differe nt varieties of c o tto n is as follow s— M it A fifi, 1,066,768 fe d 
dans; A b b a s sl, 37,539 feddans; Ia n n o v lc h , 156,826 feddans; A s h m o u n l
299,886 feddans; a n d 42,252 fe d d a n s m ore in s u n d ry v arietie s. (10 fe dda n s
e q u a l 11 acres.)
T he prom ise o f a record crop has o f la te checked b u y in g
a t A le x a n d ria , a n d purchases are n o t s tim u la te d even b y the concessions
o f c u ltiv a to rs , w h o are said to be offering th e ir lin t a t prices In considerable
d is p a rity w ith p rin te d q u o ta tio n s . A s regards th e N ile good a u th o ritie s
are sa y in g t h a t If w ith th e present a p o lo g y for a flood we were In th e da y s
before th e A ssou an d a m , E g y p t w o u ld be thre a te n e d w ith fa m in e .
Yet
he av y rains still c o n tin u e to fa ll In th e S u d a n .
T he u n u s u a l ev e nt of r a in 
fa ll In A u g u s t also occurred last week over a large area of th e D e lta .
It
was w elcom ed b y c u ltiv a to rs as lik e ly to postp o n e th e d re a d e d m ists.

814

THE CHRONICLE.

A M O U N T IN S IG H T .— Supplementary to our A nn u al
Cotton Crop Report, and at the request of a number of
readers, we give below a table showing the am ount of cotton
which came in sight during each m onth of the cotton season
1906-07. For purposes of comparison similar results for
the three preceding years are appended.
.

M o n th s.

1906-07.

1905-06.

1904-05.

1903-04.

1,019,761
2,301,208
2,368,003
2,219,638
1,751,608
1,200,056
957,256
589,157
400,638
244,842
212,635
255,854
30,104

1,328,120
1,925,170
2,105,179
1,581,799
903,997
728,231
647,551
556,235
490,880
318,917
288,117
403,166
42,498

1,373,847
2,331,136
2,318,510
1,863,097
918,695
583,125
1 ,033,633
920,447
750,542
549,798
544,156
462,512
fc92,657

810,687
1,918,456
2,235.649
1,849,423
1,106,797
648,327
511,432
309,916
237,543
206,489
186,555
187,324
*84,912

13,550,760

11,319,860

13,556,841

10,123,686

S e p t e m b e r ___
O c to b e r . . _
___
N o v e m b e r____ _
D e c e m b e r ________
J a n u a r y _______________
F e b r u a r y ___________ .
M arch
_________
A p r il .
. _________
M a y ___ ________
___
J u n e ___ _______ ______
J u l y _______
____
A u g u s t _______________
A d d ltio n s .a
_ ____
T o ta l c ro p _______

a " A d d it io n s ” in c lu d e a ll corrections in p o r t receipts a n d o v e rla n d m a d e
a t th e close of th e season, as w ell as th e excess in S o u th e rn c o n s u m p tio n ,
as show n b y th e a c tu a l results.
T his to ta l Is Increased or decreased b y
in te rio r to w n stocks, k D e d u c tio n s .

A L E X A N D R IA R E C E IP T S A N D S H IP M E N T S O F
CO TT ON .— Through arrangements made w ith Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandria, we
now receive a weekly cable of the movements of cotton at
Alexandria, E gypt. The following are the receipts and
shipments for the past week and for the corresponding week
of the previous two years:
A le x a n d ria , E g y p t,
September 25.
Receipts (cantars) —
T his week . ____
Since S ept. 1___________

1906.

95,000
174,166

70,000
114,695

T his
Since
week. Sept. 1.

E x p o rt (bale6)—
To
To
To
To

1907.

L iv e rp o o l
M a n c h e s te r___________
C o n tin e n t . _ _ _____
A m e r ic a .. _
______

T o ta l e x p o r t s _________

4,500

1905.

55,000
92,417

This
S ince
week. Sept. 1.

T his
S ince
week. S ept. 1.

2^500
200

8,000
3,250
7,455
600

2,500
2,000
3,250
100

4,995
2,000
7,086
448

2,250
2.750
2,500
1.750

7,141
3,492
12,141
3,041

7,200

19,305

7,850

14,529

9,250

25,815

N ote.— A c a n ta r is 99 lbs.

E g y p tia n bales w eigh a b o u t 750 lbs.

This statement shows th a t the receipts for the week were
95,000 can tars and the foreign shipments 7,200 bales.
M A N C H E S T E R M A R K E T .— O ur report received by
cable to-night from Manchester states that the m arket
is firm for yarns and quiet for shirtings. Spinners are con
sidered to be well under contract. We give the prices
for to-day below and leave those for previous weeks of
this and last year for comparison.

32s Cop.
Twist.
Aug
16
23
>0
Sept
6
13
20
27

d.

8% lbs. Shirt Col’n
ings, common M id.
to finest.
Upl's

32s Cop.
Twist.

I 8% lbs. S h in 
; lugs, common
to finest.

Col’n
MU.
U pl’s

d.
@ 12%
10 13-16-12 3-16
11
@ 12%

s. d.
s. d.
6 8 a 10 4%
6 7% @ 10 4
6 8 @ 10 5

d. d.
7.29 9%
(<0
(a)
7.27 9
7.4918 15-16@

d.ls. d.
s. d.
10%|6 6 @ 9 7
10% |6 5 @ 9 6
10% 6 4 % @ 9 6

d.
5.51
5.29
5.41

11 Hi @ 12%
10 Hi @ 12%
10 % @ 12%
10 11-16 @12 %

6
6
6
6

7.5119
7.1019
6.91 9%
6.60 9%

10%
10%
10%
10%

5.41
5.63
5.57
5.66

10 %

8
7
6
5

@10
@10
@10
® 10

5
4
3
2

@
@
@
@

6
6
6
!6
1

4 @9
4 @9
4 @9
4% @ 9

6
6
6
6

S H IP P IN G N E W S .— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 108,408 bales. The shipments in detail, as made up
from m ail and telegraphic returns, are as follows:
T otal bales.
N E W Y O R K — T o L iv e rp o o l— S e p t. 24— B o v lc , 3,819 u p l a n d , 111
Sea Is la n d , 222 fo re ig n ____ S e p t. 25— A r a b ic , 6 ,7 1 8 _________10,870
To M an ch ester— S e p t. 20— C a m oen s, 215 _______________________
215
To B re m en — S e p t. 25— Grosser K u r fu r s t, 2 ,82 1 ________________
2,821
T o H a m b u r g — S e p t. 20— W a ld e rse e , 103________________________
103
T o A n tw e rp — S e p t. 20— F in la n d , 1 ,60 0 _________________________
1,600
To G enoa— S e p t. 20— E u r o p a , 200; P rin zess Ire n e , 900____
S e p t. 23— H a m b u r g , 400________________________________________
1,500
To N aple s— S e p t. 20— Prinzess Ire n e , 500_______________________
500
G A L V E S T O N — T o L .v e rp o o l— S e p t. 25— B o n ifac e. 9,274; W a n 
derer, 8 .1 9 7 _____________________________________________ _______ _ 17,471
T o B re m en — -Sept. 21— A m e r ik a , 6 ,4 0 1 ____ S e p t. 25— L o rd
R o b e rts , 7 ,0 9 0 ................................... ...................................................... 13,491
To H a m b u r g — S e p t. 21— E v e ly n , 2 50 _________________________ 250
P E N S A C O L A — T o H a v re — S e p t. 26— S a t u r n in a , 4 50 _______________
450
S A V A N N A H — To L iv e rp o o l— S e p t. 21— E v e r ln g h a m , 5 ,3 0 0 _______
5,300
To D u n k ir k — S e p t. 20— A n g lo - A fric a n , 2 00 _____________________
200
To B re m en — S e p t. 20— A n g lo - A fric an , 10,835____ S e p t. 25—
G o lden Cross, 8 ,1 4 5 ._______ ______________________________________ 18,980
To G o th e n b u rg — S e p t. 25— G o ld e n Cross, 100___________________
100
B R U N S W I C K —-To B rem en— S e p t. 26— George F le m in g , 7 ,1 6 2 ___
7,162
W I L M I N G T O N — T o L iv e rp o o l— S e p t. 25— A n g lo - S ax o n , 1 6 ,2 2 2 .. 16,222
N O R F O L K — -To R p t te r d a m — S e p t. 21— T h e m lsto , 7 5 _______________
75
B O S T O N — T a L iv e r p o o l— S ept. 23— S y lv a n la , 214____ S e p t. 24—
B o h e m ia n , 2,719; R e p u b lic , 2 ,0 8 7 ......................... ........................
5,020
To S t. J o h n — -Sept. 19— C a lv in A u s t in , 104______________________
104
B A L T I M O R E — T a L iv e rp o o l— S e p t. 20— U ls te rm o re , 100__________
100
T o B re m en — S e p t. 25— B re slau , 2 ,7 9 9 ___________________________
2,799
P H I L A D E L P H I A — T o L iv e rp o o l— S e p t. 20— M e rlo n , 1,55 5 _______
1,555
T o M an ch ester— S e p t. 19— M anch ester C o rp o ra tio n , 1 ,52 0 ____
1,520
T o ta l................................... ............................................................... ............... 108,408




[V o l .

lxxxv

.

The particulars of the foregoing shipments for the week,
arranged in our usual form , are as follows:
Great F re nch Gcr- — O th.E urope— .1te r
B r it a in ,
ports, m a n y . N o rth . S outh. & c. C a p a n .
_____
2,924 1.600 2,000
_____
N ew Y o r k ..........11,085
_____ 13,741
______
___ _______
G a lv e s t o n ______17,471
P e n s a c o la ______ ____
450
___
....
____
___ _______
S a v a n n a h ______ 5,300
200 18,980
100
____
___ ___ ____
____
7,162
____
____
___ _______
B ru n s w ic k ______ ____
W ilm in g t o n ____ 16,222
_____
____
____
...
____
N o r f o l k ________
____
____
____
75
____
______ . . .
B oston ________ 5,020
___ _
____
____
____
104 ____
B a lt i m o r e ______
100
____
2,799
____
____
___ _______
P h ila d e lp h ia . . . 3,075
____
____
____
____
...
. 3 , 0
T o t a l .............. 58,273

650 45,606

1,775

2,000

t» 4

...

T otal.
17,609
31,212
450

24,580
7,162
16,222
75
5,124
2,89 9
7 5

108.408

The exports to Japan since Sept. 1 have been 22 bales from
Pacific ports.
Cotton freights at New York the past week have been as
follows, quotations being in cents per 100 lbs.:
S a t.
Liv erpool _________ c.
20
M anchester ______c. 17 @20
H a v r e ____________ c. a 25
B r e m e n ___________ c. 30 @35
18
H a m b u r g ________ c.
A n t w e r p _____ . . . c .
22 U
G h e n t, v ia A n t . . . c .
28%
R e v a l, in d ire c t . . c .
30
R e v a l, v ia C a n a l. . c.
B a rc e lo n a , S e p t- .c .
30
G e n o a ________ _ _ .c . 18 @25
32
Trieste ___________ c.
J a p a n ____ ______ ,_c.
45

M on.
20
17 @20
^25
30 6 35
18
22% 2
28%
30

Tues.
W ed.
20
20
17 @20 17 @20
a25
«25
30 @35 30 @3"
38
18
2
22V
28%
28k30
30

T hvrs.
2fl
17 @20
a2 5
3 0 (^3 5
18
22 y
tHV.
30

F r i.
20
17 @20
a 25
30 Ca 35
18
22%
28%
30

30
18 @25
32
45

30
18<S25
32
45.

,W
1? @25
32
45

18 @25
32
45

30
18(3 25
32
45

30

a And H%.

L IV E R P O O L .— By cable from Liverpool we have the fol
lowing statement of the week’s sales, stocks, <fec., a t that port:
S ept. 6.
Sales o f th e w e a k ________ b a le s . 51,000
O f w h ic h speculators t o o k . .
4,000
1,000
O f w h ic h exporters t o o k ____
Sales, A m e r ic a n ________________ 37,000
A c tu a l e x p o r t___________________
1,000
F o r w a r d e d _______ ______________ 57,000
T o ta l stock — E s t im a t e d _______705,000
O f w h ic h A m e r ic a n — E s t ___ 596,000
T o ta l Im p o rt of th e w e e k ______
5,000
O f w h ic h A m e r ic a n ................
1,000
A m o u n t afloax_________________ 35,000
O f w h ic h A m e r ic a n _________ 17,000

S ept. 13.
48,000
1,000
4,000
39,000
3,000
53,000
664,000
555,000
16,000
5,000
57,000
34,000

S ept. 20
.4 1 ,0 0 0
1 ;000
2,000
34,000
2,000
",0.000
627,000
518,000
16,000
3,000
91,000
79.900

S ept. 27.
32,000
1.000
1 ,0 0 0

26,000
9,000
47,000
606,000
501,000
34,000
27,000
121,000
103,000

The tone of the Liverpool m arket for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market,
12:15
P. M.

]
}■
J

Saturday.

Monday.

Tuesday.

D ull.

Moderate,
dem and.

Easier.

Wed’day.
D ull

.

Thursday.

Friday.

More
demand

Easier.

M ld .U p l’ds

6.86

6.80

6.68

6.74

6.76

0.60

Sales
Spec.&exp.

4,000
300

7.000
500

5,000
300

5,000
400

8,009
1.000

5,000
500

Quiet at
Futures.
Market
\ 5 points
opened
J decline.
Market,
4
P. M .

Barely st'y, Irreg. at
unch. to 1 6@7 pts.
pt. decline. pts. dec.

Steady at
5@6 pts.
advance.

Steady at
$ point*
advance.

Easy at
7@8 pts.
decline.

"I Quiet at B ’ly st'y at V'y st'y at Easy a t % Steady at B 'lv st'y a t
8@ 10 pts.
10@11
2% @ 4
p t. dec. to 4@5 pts.
11%@12
pts. dec. % pt. adv. advance.
pts. dec.
pts. dec.
pts. dec.

J

The prices of futures at Liverpool for each day ire given
below. Prices are 011 the basis of u plan d' good ordinary
clause, unless otherwise stated.
The prices are given in pence a n d 100th%. Thus: 6 38 neons 8
S at.
S ept. 21
12% 1 2 %
to
S e p t. 27. p .m . p .m .
a.
S ept.- O ct
O c t. -N o v
N ov.-D ec
D ec.- Jan
J a n .-Feb
Feb.-M ch
M ch.- A pr
A p r.- M ay
M ay -June

6
6
«
6
«
6
6
6
6
6

d.
38
2 3%
17%
1 3%
11%
11
11%
12
12%
13

T h u r*.
W ed.
M on.
T ues.
F r i4
12 %
4
12%
4 12%
12 % I 4
4 12%
p .m . Ip. m . p .m . p .m . p .m . p .m . p .m p m . p .m . p .m .
d.
34
20
14%
10 %
08%
08
08 %
09
09 %
10

rf.

27
12%
06 %
03
01
00 %
01
02
02%
03

d.
22 %
07%
02
98 %
96%
96
9 6%
98
98! ;
99

d.
23 %
08%
03 %
00
98%
97%
98 %
99%
00
00 %

rf.

28
13%
09
05
03%
03
04
05
05%
06

rf.

23
08%
04
00
98%
98
99
00
00%
01

d.
29 Vr
14%
10
0b
04%
04
05
06
|06%
07

a
28
13
08 %
04
02 l'.
02
03
04
04 %
or>

d.
18
04 %
00
95 %
94
93 %
94%
95 %
96
96%

rf.
16 >-»
01
96,%
92
90%
90
91
92
92%
00

Ju ly .- A u g

BREADSTUFFS.
Friday, September 27 1907 .
Prices for wheat flour have been in the main firm, b u t the
smallness of the trade has been very noticeable; so much so
th a t m any grades have been little more than nom inal in
value. The rise in wheat has therefore had less effect than
it would probably have had if trade had been better. The
United K ingdom has taken winter patents to some extent,
and w ithin a day or two the demand has increased somewhat
for Kansas straights and spring patents. Rye flour and
corn meal have been firm with a fair dem and.
W heat, though very strong at times, owing principally
to a sharp demand for export, coincident with rising fore ign
markets, has latterly declined -om* what under hea vy sale -

S e p t,

of “ futures” to realize profits. Some reaction has also oc
curred late in Liverpool. Berlin and Budapest, partly for the
same reason and partly, it appears, because of reports of
impending large shipments from Russia and the fall of bene
ficial rains in Australia. The total world’s shipments last
week, too, were very large, reaching 11,405,000 bushels,
against 9,484,000 in the previous week and 10,534,000
last year, being especially large from Russia. Arrivals at
Russian ports have been liberal everywhere except at Odessa.
There has been less talk, moreover, about damage to the crop
in Canada, where at times the weather has been warmer.
I t looked, too, as though the big speculative markets of the
world had become somewhat “ over-bought.” B ut the
liquidation of “ long” accounts both at home and abroad
has latterly paved the way for an upward turn on the revival
o f export trading on a big scale. There was something of a
lull in the foreign demand early in the week, b u t within the
last few days it has been active. Domestic millers have also
bought more freely, and. in a word, the strong “ cash” situa
tion growing out of the increased demand both for home and
foreign account has been the param ount factor in some rally
in “ future” prices. The stock a t Minneapolis has been
steadily decreasing, and D uluth has been taking part in the
increased export trade. To-day prices were higher, owing
to a renewed export demand, reports of bad weather in the
Canadian Northwest, some recovery in European markets
after an early decline and a certain am ount of m anipulation
attributed to large bull interests at Chicago.
D A IL Y C L O S IN G P R IC E S O F W H E A T F U T U R E S IN N E W Y O R K .
S at. M o n . Tues. W ed. T hurs.
F r i.
N o . 2 red w in te r ________ ______ _____107% 106% 1 07 % 1 06 % 1 07 % 107%
S«*otember de liv ery in e le v a to r ____ 1 0 8 H 1 07 % 107 % 106 % 107 %
_____
D e member delivery in e le v a to r______11054 1 09 % 1 09 % 109
1 0 9 % 1 09 %
M a y d e liv e ry In e le v a to r___________ 113% 1 12 % 1 12 % 112
1 12 % 1 12 %
D A I L Y C L O S I N G P R I C E S O F W H E A T F U T U R E S I N C H IC A G O .
S a t. M o n . Tues. Wed. T hurs.
F r i.
S e p te m b e r de liv ery in e le v a to r____ 9 6 %
96%
96%
95%
96%
----D ecem b er d e liv e ry in e le v a to r_____ 102
100% 100%
9 9 % 1 00 % 100
M a y de liv e ry )n e le v a to r____________ 108
106% 106% 105% 106% 1 05 %

Indian corn futures have at times shown more or less
depression, owing to favorable weather in some parts of the
belt and a certain sym pathy w ith declines in wheat. More
over. the receipts have been pretty large. Of late, however,
prices have been stronger, owing to frosts in the Ohio Valley
and the Northwest. H ard frosts were reported at one time
in Iowa, Nebraska and Illinois. Besides, the cash demand
at Chicago has increased and export business would probably
have exceeded the moderate total reported but for the scarcity
of corn. To-day prices advanced, owing to rains in the
Central Western States and reports of freezing temperatures
in Minnesota and North Dakota. Moreover, Liverpool prices
were higher, there was some export demand and shorts
covered rather freely.
D A I L Y C L O S IN G P R I C E S O F X O 2 M
S a t.
C a sh c o rn . . . . ______________ _________ -S e p te m b e r d e liv e ry in e le v a to r _____ 77
D ecem b er d e liv e ry in e le v a to r............7 0 %

IX E D C O R X IN N E W Y O R K .
M o n . Tues. Wed. T hurs.
F r i.
79 b id ____
80 80
80
_____
____
____
80
____
69%
69%
70%
70%
71%

D A I L Y C L O S I N G P R I C E S O F C O R X F U T U R E S I N C H IC A G O .
S a t. M o n . Tues. W ed. T hurs.
F r i■
S eptem b er d e liv e ry !n e le v a to r _____ 6 2 %
61%
61%
62%
62%
_____
D ecem b er de liv ery in e le v a to r_______58 %
56%
57%'
58%
58%
5 9%
M a y d e liv e ry 1e e le v a to r— ........... . 5 9 %
58
58%
59%
59%
60%

Oats for future delivery have declined, as m uch owing
to the realizing of profits as anything else, though it is also
true th a t the weather has been more favorable and the re
ceipts have been large. Bulls claim, however, that the crop
is short, both as to quan tity and weight, though prices are
likely to follow those for corn for a time. To-day unfavor
able weather for marketing the crop helped to bring about
some advance in prices. The rise in corn and poor grading
a t Chicago were also strengthening factors.
D A JL Y

C L O S IN G

P R IC E S O P
S a t.
M ixed
. ............................ ............. 5 2 %
W h it e c lip p e d - _______ _______________ 61-64

815

THE CHRONICLE

28 1907,j

O A T S IN N E W Y O R K .
M o n . Tues. Wed. T hurs.
F r i.
52%
53%
53%
53%
53%
61-64 61-64 61-64 61-64 61-64%

D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D O A T S I N C H IC A G O .
S at. M o n . Tues. Wed. T hurs.
F r i.
S e p te m b e r de liv ery in e le v a to r_____ 5 3 %
52%
52%
51%
52
_____
D ecem b er delivery in e le v a to r _______52
51%
52%
51%
52%
52%
M a y d e liv e ry in e le v a t o r ..... ............. 5 4 %
53 %
54
53%
53%
53%

The following are closing quotations:
FLOUR.
L o w grades w in te r____ 53 85 ® S4 00! K a n s as s tra ig h ts _______ $4 70
90
S ec on d clears___________ 3 15 @ 3 30 K a nsas clears_______ _____ 4 20 (w 4 40
C le a r s ________ __________ 4 15 @> 4 50; B len de d p a te n ts __________ 5 75 @ 6 30
S tra ig h ts _______________ 4 50 <§ 4 75 I R y e flo u r________________ 4 75 @ 5 25
P a te n t , s p r in g .________ 5 40<§: 6 30 B u c k w h e a t f l o u r _______
N o m in a l.
P a te n t, w in te r _________ 4 70 @ 5 00 G r a h a m flo u r.............. N o m in a l.
K a n s a s p a t e n t s ________
___ ® ____ [Corn m e a l------------ 3 65 @ 4 15
G R A IN .
W h e a t, per b u s b .—
c.
C o m , per b u s h .—
c.
N . D u lu t b , N o . 1____________ 120 % | N o . 2 m ix e d , n e w _______ f.o .b .5 4
N . D u lu t h , N o . 2 ______f . o . b . 119%
N o . 2 y e llo w , n e w ..f .o .b .N o m in a l.
R e d w in te r,N o . 2 ______f . o . b . l 07 % i
N o . 2 w h ite , n e w ___ f.o .b .N o m in a l.
H a rd
"
“
____ f .o . b .110
O a ts , per- bush
R y e , per b u s h .—
N a tu r a l w h ite _________ 5 4 % @ 58
N o . 2 W estern __________
9 4%
S ta te a n d Jersey _______ N o m in a l.
m i x e d ________
53%
w b lte , c lip p e d .6 0
@ 6 4 % B arley — M a l t i n g ________ 99 @ 105
F e e d in g ________________ N o m in a l.

e n de d cool o v er th e g re ater p a r t o f the. re gion n a m e d , w ith lig h t t o h e av y
frosts in the. U p p e r M ississippi a n d U p p e r M issouri v a lle y s , u p p e r L a k e
region a n d n o rth e rn N ew E n g la n d .
T he w e a th e r w as m u c h c ooler t h a n
u s u a l in th e m id d le a n d n o rth e rn P la te a u d istric ts a n d n o rth e rn R o c k y
M o u n ta in re gion, w here lig h t to h e a v y frosts w ere fr e q u e n t, a n d freezin g
te m peratures occurred. A large p a r t of O k la h o m a a n d n orth e a ste rn Texas
t h a t was suffering fro m d r o u g h t a t th e close o f th e prec e d in g w eek has
received a b u n d a n t r a in f a ll, b u t d r o u g h t co n tin u e s in s o u th e rn a n d w estern
Texas a n d ex trem e n o rthw estern A la b a m a , a n d a general r a in is needed over
th e greater p a rt of M issouri; elsew here there is g e n e ra lly a m p le m o is tu re ,
p o rtio n s o f th e u p p e r M ississippi V a lle y a n d L a k e re gion a n d a n area
e x te n d in g fro m th e c e n tral a n d east G u lf coasts to so u th e rn N e w E n g la n d
h a v in g received excessive rains.
There w as less th a n tlie u s u a l sun sh in e in
th e c e n tral a n d east G u lf d istric ts, fro m th e u p p e r M issouri v a lle y eastw ard
to th e lo w e r L a k e region a n d over th e n o rth e rn p o r tio n o f th e M id d le
A t la n t ic States; th e sun sh in e w as in excess o f th e average In V ir g in ia , th e
C a ro lin as, Tennessee, a n d th e S tate s o f th e O h io , c e n tra l M ississip pi, a n d
lo w e r M issouri v a lle y s .

E X P O R T S O F B R E A D S T U F F S , P R O V IS IO N S , COT
TON A N D P E T R O L E U M .— The exports of these articles
during the m onth of August, and the eight m onths, for the
past three years have been as follows:
Exports
from. U . S .
Quantities.
W h e a t ___bu.
F lo u r ___bbls.

1907.

1906.

1905.

August, j 8 Months, j ;August. | 8]Months. j August.

- i

8 Months,

!

1,844,635
5,212,369

5,861,066 35,030,935 7,617,428 23,553,802| 1,074,008
985,163 9,855,159, 1,101,463 8,696,905) ft 671,703

W heat *.- bu . 10,294,299 79,379,15012,575,0111 62,689,874 4,096,671 25,300,295
C o rn _____ bu. 4,898,928; 67,109,429 3,157,494 80,488,276 4,811,831 77,055,100
Total bush. 15,193,2271146,488,579 15,732,505143,178,150 8,90S,502 102,355,395
Values.
W heat & flour 9,543,858 69,129,698 10,395,6041 54,864,742 4,040,043 25,565,882
Corn & meal 3,266,133 38,113,628 1,966,437S 42,493,051 3,056,402 42,236,533
55,099
55,046
54,955
575,180
42,351'
671,020
Rye . .
373,853 3,329,715
122,060' 1,163,694
269,1291 9,158,039
Oats & meal
289,425 2,838,593
123,856) 1,537,238
242,631| 4,431,315
Breadstuffs
Provisions___
Cattle, hogs..
C o tto n ______
Petroleum,&c

13,110,862110,519,438
16,209,270125,995,892
2,210,999 24,352,944
4,384,947:238,494,613
9,050,96?j 55,717,824

12,916,152|ll 1,618,167
16,683,511131,348,082
2,627,077i 27,425,543
9,292,992179,966,115
7,376.250: 53,830,356

7,814,769
14,212,278
2,834,519
17,244,684
6,833,287

74,025,822
109,744,421
27,669,172
187,590,425
49,896,166

Total value 44,967,045555,080,711 48,895,9S2 504,188,263 48,939,537 448,926,006
* Including flour reduced to bushels.
Note.— All the above figures are based on the monthly preliminary returns Issued
by the Bureau of Statistics, and cover about 97%Jof the total exports.

The aggregate exports from the United States of wheat
and wheat flour, expressed in bushels, for the eight m onths
from January 1 to August 31 inclusive, have been as follows
for four years:
1907.
W heat, bushels........... ....................35,030,935
Flour, reduced to bushels________ 44,348,215
Total bushels............................... 79,379,150

1906.
23,553,802
39,136,072

1905.
1,844,635
23,455,660

1904.
9,540,289
36,932,569

62,689,8574

2,300,295

46,472,82S

The statement of the movement of breadstuffs to m arket as
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts a t Western
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years have been:
Receipts at—

Flour.

Wheat.

|

Rye

Barley

Oats.

Corn.

bbls.im bs. bush. 60 lbs. bush. 56 lbs. bush. 32 tbs. bushAHlbs. bu. 56 lbs.
70.000
557,329
171,411
4,092,500
2,806,518
C hicago____
1,173,430
27.000
488,800
395,200
414.000
77,925
142.000
M ilw aukee..
6,580
236,383
32,131
1,090,950
D u lu th _____
78,100
140,840
658,120 1,380,700
Minneapolis.
1,299,340
10.000
128.000
148,000
127.000
102,871
58,100
’ 3,000
17,979
10,534
249,490
Cleveland
94,085
1,313
" 6 ,000
89,700
798,370
429,967
642,865
S t. Louis___
52,310
18,000
73,000
355,500
P e o r ia .........
13,350
33,000
545,600
1,156,000
235,000
274.800
Kansas C lty.
319,309
466,071
443,999

5,752,200
6,704,945
7,639,064

6,078,990
4,414,516
3,907,232

Since A ug. 1
1907 . . . 2.612,406
1906_____ 3,471.615
1905_____ 3,058,682

44,142,654
44,249,723
45,514,520

27,886,423
26,829,521
29,778,279

Tot.wk.’07
Same w k . ’06
Same w k . ’05

5,821,000
4,412,359
5,590,037

215,680
153,999
244,981

2,825,912
2,044,467
3,359,232

41,405,148 7,092,501 1,115,574
822,851
38,486,388 6,935.347
43,912,676 10,113.939 1,233,871

Total receipts of flour and grain at the seaboard ports for
the week ended Sept. 21 1907 follow:
Receipts at—
New Y o rk______
B o s to n ________
Portland. M e__
P h ila d e lp h ia __
Baltim ore_____
R ic h m o n d ____
New Orleans, a.
Newport New s..
Norfolk_______
Galveston..........
Mobile
Montreal______
Total week. .
Week 1906

1,900
29,665

...........

...........

1,143,001

102,000
2,900
43,483

Rye.
bush.
23.400
1,602
______
______
34 493
4,516
______
______
______
-----

31,537

...........

...........

410,604
399,436

3,560,844
2,555,541

658,057
722,218

1,350,744
1,307,516

37.200
89,926

64,011
38,326

Flour.
bbls.
114,636
38,814
3,962
- 106,509
..
80,362
4,645
14,320
8,007
7,784

..
..

..

Wheat.
bush.
622.721
194,147
64,000
265,171
336,880
31,924
594,000
56,000
253,000

Corn,
bush.
21,500
4,050

Oats,
bush.
756,000
112,517

25,000
63,950
37,936
221,000
136,238

179,176
142.164
67,350
62,000
______

Barley,
bush.
37,200
______

______
______
______

a Receipt? do not Include grain passing through New Orleans for foreign ports
on through bills of lading.

Total receipts at ports from Jan. 1 to Sept. 21 compare as
follows for four years:
Receipts of—
1907.
F lo u r ............................... bbls. 13,777,864

1906.
12,199,913

1905.
8,276,536

1904.
12,633.780

22,035.481
75,924,694
43,173,707
5,348,656
615,001

32,387,736
40,637,017
34,023,929
2,359,666
60S,031

GOVERNMENT W E EK LY W EATHER REPORT.
Mr. James Berry, Chief of the Climatological Division of the
United States W eather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various States
for the week ending Sept. 23'. sum m arizing them as follows:

W he at............................. bush. 75,734,384
Corn........................................... 73,051,081
O a ts______________ __________ 40,309,614
Barley ______________________ 3,514,305
R y e _______ _________________
1,426,175

T he w e a th e r d u r in g th e gre ater p a rt o f th e week e n d in g S e p t. 23 was
u n u s u a lly w a rm over m ost o f th e c o u n tr y east o f t h e R o c k y M o u n ta in s ,
p a r tc u la r ly In th e c e n tra l v a lle y s a n d M id d le A t la n t ic S tate s; b u t th e weel

The exports from the several seaboard ports for the week
ending Sept. 21 1907 are shown in the annexed statement:




Total grain........................... 194,035,559

71,237,226
76,005,247
60,915,667
3,024,406
1,070.920
212,253,466

147,097,539

110,016,379

816
Wheat,
Exports Irom—
bush.
N ew Y o r k ________ 652,389
P o r tla n d , M e ____
64,000
B o s t o n ___________ 395,142
P h i la d e l p h i a ____ 462,800
B a ltim o r e ________ 443,451
N o rfo lk , V a ______
_______
N ew po rt N ew s___
56,000
M o b ile ............ .........
............
120,400
N ew O rle a n s ____
159,360
G a lv e sto n ________
M o n tre a l_________ 1,046,478

THE CHRONICLE.
Corn,
bush.
27,235

Flour,
Oats,
bbls.
bush.
51.412
31,825
3,962
43,399
25,200
66,819
40,815
86,513
7,784
______136,238
8,007
2„900
1,900
62,264
9,724
5,304
9,724
45,057 2,381
2,381
___
38,691
50,307 38,691
118,261

Rye, Barley,
bush.
bztsh.
26,092

T o tal w ee k____ 3,402,020 435,714 274,894
155,440 26
S am e tim e 1906 -2,978,595
556,926 267,484
570,755

Peas,
bush.
1,935

6,632
67,170
092
,705

67,170
6,256

[V o l .

New York to September 21—

G r e a t B r i t a i n _____________________
O t h e r E u r o p e _____________________
C h i n a _________ _____________________
I n d i a ------------------------A r a b i a ______________________________
A f r i c a ________________ _____________
W e s t I n d i e s ______________________
M e x ic o _____________________________
C e n t r a l A m e r i c a __________________
S o u t h A m e r i c a ___________________
O t h e r c o u n t r ie s __________________

8,567
9,052

T o t a l ______________________ _____

W eek.
17
9
69

190 6 ----S in ce
J a n . 1.
1 ,2 9 9

1,021

3 ,5 9 5

.

488

_

305

.1 ,8 1 0

1 3 4 ,9 5 5

1

604
622
190

.

190 5 ----S in c e
J a n 1.
1 ,08 4
1 ,1 1 3
7 9 ,8 1 1
375
8 ,3 0 0
3 6 ,6 3 7
9 ,0 0 3
69
536
2 0 ,3 8 5
44
1 ,5 9 3
491
1 1 ,3 8 7
1 ,60 5
4 0 ,1 1 8
405 .
1 2 ,6 7 5

Week.
40
30

1 6,2 35
6 ,0 0 8
24 410
3 ,9 0 9
1 6 ,6 6 4
1 ,80 6
1 0 ,2 4 3
3 2 ,8 9 4
2 0 ,4 6 6

.
.
_

lxxxv

2 2 2 ,1 0 6

In domestic cottons interest has centred largely in ging
hams, for which buyers have freely paid the higher prices;
all lines, especially seersuckers, show an advancing tendency.
— ----- Corn------ Flour------------- WheatSince
Since
Since
The recent advances in quiltings have not curtailed the cte
July 1
Week
Jidy 1
WeVX
July 1
Week
rn and. Bleached goods are quiet, the demand being chiefly
1907.
Exports Jor week and Sept.21.
1907. Sept. 21.
1907. Sept. 21.
• bush.
bush.
since Ju ly 1 to—
bush.
bbis.
bbls.
bush.
for spots, which continue extremely scarce. Sheetings have
U n ite d K in g d o m - .182,193 1,218,150 2,088,842 17,472,366
153,456 4,995,420
moved in moderate volume, especially among second-hands;
C o n tin e n t
_ _ - .. 19,5t>3
247,151 8,166,708
561,881 1,295,487 8,557,350
103,896
S o . & C ent. A m e r. . 3,521
167,253
109,579
10,607
7,791
heavy goods, however, show more activity and are in shorter
W est I n d i e s ____
23,400
463,895
. 28,808
317,769
9.900
14,800
supply, owing to curtailed production. Sales of print cloths
25,482
B r it . N o . A m . Cols600
12,538
7,660
have been quite large, particularly for narrow standards,
O th e r co untrie s____
209
129,247
21,735
1,100
which have brought the m axim um price. Wide goods are
T o ta l.....................-274,894 2,406,838 3,402,020 26,175,830
435,714 13,762,834
slightly easier. The advanced prices on prints forced con
7,809,374
T o tal 1906_________ 267,484 2,326,932 2,978,595 21,352,270
556,926
The visible supply of grain, comprising the stocks in gran- siderable buying, which otherwise probably would not have
ary at the principal points of accum ulation at lake and sea- developed until later in the season. Linings are dull, owing
principally to credit conditions and current high prices.
board ports Sept. 21 1907, was as follows:
Corn,
' W O O L E N G O O D S .— In m en’s wear the fall season has
Wheal,
C om ,
Barley,
Oats,
Rye,
bvsh.
bush.
bush.
bushbush.
bush.
been quite satisfactory, and clothiers are complaining of
New York __ _____
998.000
273.000
62,000
273,000
40,000
27,000
over-due deliveries. Browns continue the favorite and are
afloat______
429,666
104,666
" 6’,000
in urgent demand. Duplicate orders for worsteds and some
785,000
155.000
92,000
woolens for spring 1908 have been received, but have been
966,000
353.000
221.000
24,000
414,000
322.000
117,000
small and of little significance. Orders so far taken by
413,000
54.000
clothiers are not sufficient to give an idea of the am ount of
Montreal .
_____
50.000
362,000
99,000
1,000
24,000
Toronto___________
4,000
cloth or the number of styles they will require. Prospects
Buffalo __ _______
5 6 l‘ 66o
1,669,000
102,000
27‘ 666
47,666
for woolens could be m uch better; even fancies, which started
. 1,814,000
145,000
332,000
12,000
out well, are now dragging. Spot woolens are very quiet,
but a continuance of cool weather m ay stimulate trade.
. 371,000
92,000
44,000
72,000
Demand for staple worsteds continues Unabated, b u t orders
.1 2,642,000
104,000
368,000
282,000
for overcoatings are below expectations. In dress goods
staple fabrics are in fair demand; the lower lines of fancies,
296,000
96,000
176,000
27,000
on the other hand, generally are m oving slowly. Leading
_ 1,0.50,000
worsted dress goods manufacturers have been showing
. 2,005,000
. 1,554,000
109.000
12,000
655,000
samples and filling mail orders, but there has been no im 
afloat______
provement in woolens. Broadcloths, both plain and fancy,
Minneapolis .
52,000
6,159,666
715.666
877",666
38,666
St. Louis__________ . 4,126,000
SI,000
300.000
5,000
2,000
are still urgently sought, and there are m any complaints
afloat___ _
regarding deliveries.
. 4,434,000
108,000
138,000
3,000
363,000
1,208,000
F O R E IG N D R Y G O O D S .— A fair volume of business in
.
746,000
74,000
63,000
On Mississippi River. .
imported woolens and worsted dress goods has already been
. 2,106,000
1,331,000
107,00(1
216,000
done, b u t trade at present is quiet, as buyers hesitate to
On Canal and River.. .
637,000
67.000
11,000
71,000
operate for spring. So far plain staples, piece-dyed fancies,
Total Sept. 21 1907. .44,009,000
4.160.000
4.485.000
527.000 1.946.000 taffetas and serges have been the best sellers.
Ribbons have
Total Sept. 14 1907. .45,550,000 3.231.000
3.189.000
531.000 1.163.000
Total Sept. 22 190(5. .32,118,000 3.741.000
8.078.000 1,513,000 1.867.000 been active and the outlook for spring 1908 is considered very
good. Linens rule very strong, with a brisk inquiry for
spring lines. Burlaps are slightly firmer.
T H E D R Y GOODS T RA D E.
Im portations and Warehouse W ithdraw als of Dry Goods.
New York, Friday Night, Sept. 27 1907.
Conditions in the dry goods market show very little
change from those prevailing last week, more or less irregu
larity again being the feature. In the cotton goods division
of the m arket most of the initial purchasing for fall is over
w ith second-hands, and current business is confined princi
pally to the covering of incomplete lines or spot requirements.
On forward business buyers appear to be more conservative;
continued stringency in the money market is largely responsi
ble for this attitude, but the further decline in the staple has
caused buyers to look for lower prices. Sales of cloths at
second-hands have continued at further recessions, b ut the
prim ary market has so far shown no signs of weakness. Spot
goods at first hands are extremely scarce and mills are heavily
booked ahead. Exporters are expecting a revision of prices,
owing to the decline in the raw m aterial, and are urging mills
to sell heavy cottons for export at prices which will meet
foreign competition, and will, they believe, stimulate export
trade; the question of deliveries, however, is quite as im port
ant as that of price. The failure of cotton-yarn spinners to
take definite action at the Charlotte, N. C., meeting caused
m uch disappointment in the trade; the yarn situation in con
sequence continues very unsettled and unsatisfactory.
Am ong jobbers inclement weather during the fore part of the
week interfered with business, but the development of cool
weather since has stimulated trade, especially in seasonable
goods. The new jobbing price of 7c. for standard indigoes
became effective on September 24, and a good volume of
business has been done in these and in other prints. Narrow
print cloths have ruled firm, but wide goods are somewhat
easier. In silk piece goods prices are firmly held by selling
agents; fall trade on staples has been of satisfactory size,
while the outlook for spring 1908 is considered bright. Con
cessions have been made on some of the cheaper grade silks,
b ut reports of price-cutting generally are denied by leading
interests. W h a t effect the throwsters’ strike and the course
of the raw-material m arket will have on the situation, how
ever, remain to be seen. Cooler weather has im parted a
better tone to market for m en’s wear and women’s dress
goods for fall, but trade in these lines is rather quiet.
D O M E S ! IC COTTON G O O D S .— The exports of cotton
goods from this port for the week ending Sept. 21 were 1,810
packages, valued at §185,719, their destination being to the
->oints specified in the table below:
The destination of these exports for the week and since
Ju ly 1 1907 is as below:

......... ........................ 10,400
431,659

W IT H D R A W A L S

2,981,722
112,036,101

THROW N

384,773

3 , 840,99
8 ,4 4 1 ,1 3
4 ,8 1 6 ,5 8
2 ,9 7 5 .0 6
1 ,9 7 8 ,8 9 6

9 6 ,9 7 8 ,0 9 8

M ARKET.

2,435,686

11,921
20,691
8.573
13,644
174,502

THE

132,697
170.684
81,635
77,451
89,505

8,802

402
552
201
355
1,707

UPON

126,191 12,756
4.063,038
242,600 25,656
8,264,948
120,542 8,993
4,817,253
119,47517,699
4,410,731
101,478 105,455
2,750,445

2 0 .0 5 2 ,6 6 9
9 6 ,9 7 8 ,0 9

IM P O R T S E N T E R E D
FOR
C O N S U M P T IO N
FOR
THE W E E K
AND
SIN CE
J A N . 1 1907 A N
Week Ending
Week E n d in g
Sept. 21 1907.
Since Jan. 1 1907.
Sept. 22 1906.
Since Jan. 1 1 9 0 6 .
Pk(!n.
Value.
Pkgs.
Value.
Pkgs.
Value.
Pkg*.
Vatu
M a n u fa c tu r e s o f —
$
$
$
I
W o o l ............ ........................ ........................
1,102
296,866 39,500
11,673,724 793
248,800
38,429
10,*01 .SO
C o t t o n . .......
2,958
933,19(5 118,335
37,795,806
2,377
709,825
109.280 3 3 .7 0 3 ,7 7 7
S M k ......................................
1,724
1,021,903
67,483
35,765,588
1,541
826.146
55,814
2 8 ,3 9 6 ,6 8
F l a x ..............
1,571
407,936 67,748
15,587.673
1,745
368.937
69,472 1 4 ,4 5 1 .8 6 2
M isc ellaneo us
................ ........................
3,045
321,821 138,593
11,312,310 2,346
281,978
114,781
9 ,6 2 4 ,4 7 3

T o tal

399
737
225
457
3 568

229,331
384,773

614,104 1 1 7 ,0 3 0 , 71^

551.972
2,435,686

2,987,658

3,217
8,802

21 ,4 4 7 ,7
9 6 ,9 7 8 ,0

136,342,516 12,019

1 1 8 ,4 2 5 ,8

24,306,415
112,036,101

585,480

200,707
384,773

3,692,008 602,218

2,939,242

503,556
2,435,686

........... ........................ 15,786

8,802

w i t h d r a w a l s ........
5,386
710,286 170,559
for c o n s u m p t i o n . .10,400
2,981,722
431,659

m arketed

12,208

W AREHOUSE
M a n u fa c tu r e s o f —
W o o l . ......... ........................
C o t t o n _____ ______________
S i l k ..............
F l a x ..............
................ ........................
M isc ellan eo us

T o tal

T o ta l
Entered

140,541,269

28,505,168
112,036,101
3,406

593,606

3,669
896,528 161,947
2,981,722
431,659

3,878,250

IM P O R T S
ENTERED
FOR
W AREHOUSE
D U R IN G
SAME
P E R IO D .
M a n u fa c tu re s o f —
W o o l ........... ........................ ........................ 1-415
122,963 13,167
5,084,975 270
86,183
14,142
4 .4 6 5 ,1 0
C o t t o n . . . .. ........................
1,193
402,553
28,225
9,420,708
382
121,885
20,896
6 ,5 6 9 ,3
S i l k .............. ........................ ........................
211
112,546 10,010
5,200,924 140
72,862 8,514 4 , 7 4 6 , J0
F l a x .............. ........................
746
191,767 20,008
5,319,079 716
121,838
15,019
3 ,3 7 2 ,5
M is c e lla n e o u s ................... ........................
1,104
66,699 90,537
3,479,482 1,898
100,788
142,136
2 ,2 9 4 ,4 9

c o n s u m p t i o n .. 10,400

.........

for

T o ta l i m p o r t s -------- 14,069

T o tal
Entered




S e p t . 28 1907.]

g W

£

THE CHRONICLE.
C IT Y

' B t f A f lT M E W T .

News Items.
Colorado.— Amendments to State Constitution.— The Legis
lature, prior to its adjournm ent on April 1, provided for three
amendments to the State Constitution, to be voted a t the
next general election in November 1908. Two of these
amendments in no way concern this Departm ent, as they
relate to the salary of the Governor, judges of the Supreme
and District courts, the extension of the term of a public
officer and the fees and compensation of county, precinct
and other officers. The other am endm ent is of interest to
our readers, as it relates to the debt lim itation of the State.
The lim itations are the same as before, except that provision
is made for the creation of a bonded indebtedness to the
am o u nt of $873,457 94, which shall be known as “ Funding
Bonds, Series of 1909,” for the purpose of funding all
outstanding legal warrants of the State for and prior to the
year 1897. If this amendment is adopted by the people,
Section 3 of Article Eleven will read as follows:
S ection Three (3) of A rtic le E le v e n ( X I ) of the C o n s titu tio n o f th e S ta te
o f C olorad o sha ll tie a m e n d e d so as to read as follow s:
“ Sec. 3. T he S ta te sha ll n o t c o n tra c t a n y d e b t b y lo a n in a n y fo r m ,
except t.> pro v id e for casual deficiencies of re venue, erect p u b lic b u llld n g s
for use of th e S ta te , suppress In su rre c tio n , de fen d the S ta te , or, in tim e of
w a r, assist in d e fe n d in g the U n ite d States; a n d th e a m o u n t of d e b t c o n 
tra c te d in a n y one y ear to p ro v id e fo r deficiencies of revenue s h a ll n o t
exceed one-fourth of a m ill on each d o lla r o f v a lu a tio n of ta x a b le pro p e rty
w ith in th e S ta te , a n d th e aggregate a m o u n t o f such d e b t sh a ll n o t a t a n y
tim e exceed three-fourths of a m ill o n each d o lla r of said v a lu a tio n , u n t il
th e v a lu a tio n shall e q u a l one h u n d re d m illio n s o f do llars, a n d thereafter
such d e b t s h a ll n o t exceed one h u n d re d th o u s a n d do llars, a n d th e d e b t
In cu rre d in a n y one y ear fo r the erection o f p u b lic b u ild in g s s h a ll n o t ex
ceed one-half m ill o n each d o lla r of said v a lu a tio n ; a n d the aggregate a m o u n t
o f such d e b t sh a ll never a t a n y tim e exceed th e sum of fifty th o u s a n d do llars
• except a> p ro v id e d in section five of th is a r tic le ), a n d in a ll cases th e v a lu a 
t io n in th is section m e n tio n e d sh a ll be t h a t of the assessment last preceding
the creation of said d e b t.
“ P r o v id e d ,t h a t, In a d d itio n to th e a m o u n t o f d e b t t h a t m a y be incurred
as a b o v e , th e S ta te m a y c o n tra c t a d e b t b y lo a n fo r liq u id a t in g or redeem 
in g th e p r in c ip a l o n ly of th e w a rra n ts issued b y th e A u d it o r of the S tate
d u r in g the years 1887, 1888, 1889, 1892, 1893, 1894 a n d 1897; said d e b t by
lo a n to be evidenced b y registered co u p o n Interest fu n d in g b o n d s to an
a m o u n t n o t exceeding e ig h t h u n d re d a n d seventy-three th o u s a n d fo u r h u n 
d r e d a n d fifty-seven do llars a n d n ine ty - four cents ($873,457 94) or so
m u c h there of as m a y be necessary to cancel th e S ta te Indebtedness herein
nam ed.
S uc h fu n d in g b o n d s sh a ll be p a y a b le a t th e o p tio n of th e S ta te a n y
tim e a fte r ten years fro m th e ir d a te b u t sha ll be d u e a n d p a y a b le w ith in
fifteen years a fte r d a te , a n d s h a ll be o f such d e n o m in a tio n s as th e S tate
Treasurer m a y deem best. The bo nd s sh a ll be ar interest a t th e rate o f
three per cent per a n n u m . Interest p a y a b le se m i- a nn ua lly a t th e office of the
S ta te T reasurer or a t some place In the C ity o f New Y o r k , S ta te o f New Y o rk .
T he p r in c ip a l o f said b o n d s s h a ll be p a y a b le a t th e office o f th e S ta te Treas
urer. a n d sh a ll be ar Interest from A p r il 1 1909.
“ B u t no such bo nd s sha ll be issued except in exchange fo r a like a m o u n t
o f indeb te dn ess a n d u p o n th e surrender of w a rra n ts e v id e n cin g th e sa m e,
exclusive o f interest.
“ The S ta te T reasurer Is hereby a u th o riz e d a n d directed to exchange said
b o nd s fo r e q u a l a m o u n ts of w a rra n ts presented fo r exchange b y in d iv id u a l
holders or of w a rra n ts he ld b y th e p u b lic school fu n d a n d o ther in v e stm e n t
fu n d s u n d e r his c o n tro l Issued In the years abov e n a m e d , a n d the S ta te
T reasurer sh a ll register a n d keep the b o n d s In the n a m e a n d fo r th e benefit
o f the p u b lic school fu n d , a n d o th e r in v e s tm e n t fu n d s u n d e r his c o n tro l.”

817

pledged for th e purposes for w h ic h th e y are gra n te d a n d set a p a r t, a n d s h a ll
n o t be transferred to a n y o th e r fu n d fo r o t h e r uses.
Sec. 2. (B a llo ts; A d o p tio n .) T h a t a t said ele ction in th e ye>ar 1908, on
th e b a llo t of each elector v o tin g th e re a t there sha ll be p r in t e d or w ritte n
th e w ords: “ F o r proposed a m e n d m e n t to th e C o n s titu tio n w ith reference
to th e In v e stm e n t of th e p e rm a n e n t school f u n d ,” a n d “ A g a in s t said p r o 
posed a m e n d m e n t to th e C o n s titu tio n w ith reference to t h e in v e stm e n t of
th e p e rm a n e n t school f u n d .”
A n d if a m a jo r ity of a ll voters a t said e le ctio n
s h a ll be for such a m e n d m e n t, th e sam e s h a ll be deem ed to be a d o p te d .
A p p ro v e d M a rc h 5 1907.

A joint resolution was also passed m aking application to
the U. S. Congress for the calling of a convention of the
States to propose amendments to the U. S. Constitution,
more particularly with the view to providing for the election
of U. S. Senators by direct popular vote. This resolution is
as follows.
C H A P T E R 203.
(Senate F ile N o . 313. In tro d u c e d b y M r. K in g .)
A J O I N T R E S O L U T I O N o f th e t h ir tie th session of th e L e g islature o f the
S ta te of N e b ra s k a , m a k in g a p p lic a tio n to th e Congress o f th e U n ite d
States fo r c a llin g a c o n v e n tio n for p ro p o sin g a m e n d m e n ts to th e C o n 
s titu tio n of th e U n ite d S tates.
(Pream ble.)
Whereas, W e believe t h a t th e S enators of th e U n ite d S tate s
shou ld be elected d ire c tly b y the v oters, a n d ,
W hereas, To a u th o rize such d ire c t e le ction , a n a m e n d m e n t to th e C o n 
s titu tio n of th e U n ite d S tates is necessary; a n d ,
Whereas, The fa ilu re of Congress to s u b m it such a m e n d m e n t to th e S tate s
has m a d e it clear t h a t th e o n ly p ra c tic a b le m e th o d of securing a sub m ission
of such a m e n d m e n t to the S ta te s is th ro u g h a C o n s titu tio n a l C o n v e n tio n
to be calle d b y Congress u p o n th e a p p lic a tio n o f th e L e gislature o f tw o
th ir d s o f a ll th e States; therefore,
B e it Resolved by the Legislature of the State of N ebraska:
S ection 1. United States C o n stitutio na l C onvention. T h a t th e Legisla- .
tu re o f th e S ta te o f N e b ra sk a hereby m ak es a p p lic a tio n to th e Congess o f
th e U n ite d States to c a ll a C o n s titu tio n a l C o n v e n tio n fo r p ro p o s in g a m e n d 
m e n ts to th e C o n s titu tio n o f th e U n ite d S tate s.
Sec. 2. (Resolution transm itted.)
T h a t th is re so lu tio n , d u ly a u t h e n t i
c ate d , s h a ll be delivered fo r th w ith to th e P re siden t o f th e S en ate a n d
Speaker o f th e H ouse of R e prese nta tiv es o f th e U n ite d S ta te s, w ith th e re
que st th a t th e sam e sh a ll be la id before th e said S enate a n d H o u se .
A p p ro v e d A p r il 3 1907.

New York C ity.— New Member of Charter Revision Board.—
The Governor has appointed J. H am pden Dougherty as
member of the Charter Revision Board, to succeed E dw ard
M. Grout, whose resignation was received after a list of the
members had been furnished us by the Secretary to the G ov 
ernor. See V. 85, p. 614.
W inthrop, M ass.— Valuation Water-Works F ixed.— The
Boston “ H erald” in its issue of Sept. 19 prints the following
regarding the litigation to compel the town of W inthrop to
pay $250,000 for the purchase of the plant of the Revere
W ater Co.
“ T he hard - fo ught W in th r o p w a te r litig a tio n is over.
I t cam e to an end
yesterd ay before J u d g e L o rin g in th e S up re m e C o u r t. T he o u tc o m e is
t h a t th e to w n is to p a y th e R ev e re W a te r C o. fo r Its p la n t w ith in th e to w n
lim its o n ly $ 1 3 5 ,8f>9
“ P e n d in g th e litig a t io n , E . B . B is h o p , a la w y e r, as re ce ive r, has been
111 charge o f th e w a ter p la n t in th e to w n .
H e has received a b o u t $130,000
in Incom e .
T he w a te r c o m p a n y Is to be p a id $29,463 o f it and th e b a la n c e ,
a fte r p a y in g fo r th e services a n d expenses of th e receiver, is to be p a id over
to th e t o w n .”

I t m ay be recalled that on June 21 1906 Judge Braley of
the Supreme Judicial Court (see V. 83, p. 118), held th a t the
town was not under a contract to pay $250,000 for the
water com pany’s plant and franchises, as the company
had claimed, but was to pay for the tangible property of
the company onty, and th at at a price to be fixed by three
appraisers to be appointed by the Court under 1905 legis
lation. As stated above the price finally fixed by this
Board of Appraisers and approved by Judge Loring is
$135,869.

The amendment also provides for the creation of a Debt
Funding Board, prescribes how the votes shall be cast, the
terms of exchange, &c., &c.
Appropriation for Compilation of General Laws, Constitu
tion and Code of Civil Procedure.— The Legislature also, by an
Act approved April 9, provided for an appropriation for the
com pilation, publication and distribution of the Constitution
of the United States, the Constitution of the State of Colo
rado and all the general statutes of the State, w ith an index,
Bond Calls and Redemptions.
including the code of civil procedure, in one volume. W hen
the compilation and revision is complete, the statutes shall
D u nklin County, (P. O. K ennett) M o .— Bond C all.— On
be known as “ The Revised Statutes of Colorado, 1908.”
Oct. 1 paym ent will be made at the National Bank of Com
M ichigan.— Extra Session of Legislature.— The Governor merce in St. Louis of $2,500 bonds numbered 10 to 14 in 
on Sept. 23 issued a call for a special session of the Legis clusive. Denom ination $500.
lature to convene Oct. 7 for the purpose of m aking needed
Penacook and Boscawen W ater Precinct, Merrimack
appropriations for the Central Normal College and to con County, N. H .— Bond Call.— A t an annual meeting held
sider tiie am endment to the existing primary law. The March 24 1906 this precinct adopted a resolution calling for
regular session ended June 19.
paym ent Nov. 1 1907 all outstanding bonds. These secur
Minneapolis, M inn. — Vote on New City Charter.— The ities are dated Ju ly 1 1892 and are payable in thirty years
election held Sept. 17, at which the electors defeated the but subject to call any May 1 or Nov. 1 after fifteen years.
proposition for a new city charter (V. 85. p. 745) resulted Under the terms of the resolution a notice of the vote is to
in a vote of 6,999 “ for” to 9,201 “ against.” Four-sevenths be filed with E . H . Rollins & Sons of Boston. This pre
of the total vote polled was required to authorize a new cinct is situated in the town of Boscawen and the City of
charter
Concord.
Nebraska.— Amendments to State Constitution.— A t the
recent Nebraska session of the Legislature joint resolutions
Bond Proposals and Negotiations this w*^ek
were adopted providing th a t at the general election to be
held in November 1908 two amendments to the State Con hare been as follow s:
stitution shall be voted upon. One of these amendments
Annandale School D istrict, Los Angeles County, Cal.—
deals with the election of judges of the Supreme and District Bonds Voted and Sold.— An election held recently resulted
courts. A second am endm ent makes a change in the re in favor of a proposition to issue $19,000 improvement
quirements as to the investment of the educational funds bonds. Local papers report th a t these bonds have been
of the State. This am endment is as follows. W e put the disposed of for $20,060— the price thus being 105.578.
new m atter in italics.
Ansonia, Darke County, Ohio.— Bond Offering.— Proposals
C H A P T E R 201.
will be received until 12 m . Oct. 7 by Earl Hostetter, Village
(Senate F ile N o . 163. In tro d u c e d b y M r. H a n n a .)
Clerk, for $1,600 5% coupon street-improvement bonds.
A J O I N T R E S O L U T IO N To Propose a n A m e n d m e n t to Section 9, A rticle 8,
Denomination $800. Date Sept. 1 1907. Interest annually
of th e C o n s titu tio n of the S ta te o f N e bra sk a .
Be it R esolved a n d E n a c te d b y th e L e g islatu re o f th e S ta te o f N e b ra sk a :
at the Citizens’ Bank Co., Ansonia. M aturity $800 in each
Section 1. (A m e n d m e n t.)
T h a t a t th e general election fo r S ta te a nd
of the years 1909 and 1910. Certified check for 5% of bonds
Legislative officers to be he ld on the T uesd ay succeeding th e first M o n d a y
in N ove m be r 1908 the fo llo w in g p ro v is io n be proposed a n d s u b m itte d to
bid for, payable to the Village Clerk, is required.
th e electors of th e S ta te as an a m e n d m e n t to S ection 9, A rtic le 8, o f the C o n 
A ppling County (P. O. Baxley), G a .— Bond Sale.— This
s titu tio n of the S ta te o f N e braska:
Sec. 9. (K d u c a tlo n a l F u n d s , In v e s tm e n t.)
A ll fu n d s be lo n g ing to the
county recently disposed of an issue of court-house bonds
S ta te fo r e d u c a tio n a l purposes, th e Interest a n d Incom e w h e re o f o n lv are
voted on Sept. 11.
to lie used, s h a ll be deem ed tru s t fu n d s held by th e S ta te , a nd th e S ta te
-.hall s u p p ly a ll losses there of t h a t m a y in a n y m a n n e r accrue, so t h a t th e
Asheboro, R andolph County, N. C — Bond O ffe ring —
sam e s h a ll re m a in forever in v io la te a n d u n d lm ln ls h e d ; a n d s h a ll n o t be in 
vested or lo a n e d except on U n ite d S tates or S ta te securities, or registered
Proposals will be received until 12 m . Oct. 1 by A . C. Mc
c o u n ty bo nd s o f th is S ta te , or registered school district bonds of this State,
Alister, Chairm an School Board, for $5,000 5% coupon
a n d such other securities as the Legislature m ay from tim e to time direct. A n d
school bonds.
s u c h fu n d s , w ith the Interest a n d Incom e there of, are hereby solem nly




818

THE CHRONICLE.

Baltimore, M d .— Bond Election Proposed.— A n ordinance
p/oviding for an election to subm it to the voters a proposi
tion to issue $5,000,000 paving bonds is before the City
Council.
Bay City, Bay County, M ich.— Bond Offering.— Proposals
will be received until 3 p. m . Oct. 7 by C. J. Barnett, City
Comptroller, for $150,000 5% local-improvement bonds.
Denom ination $1,000. Date Nov. 1 1907. Interest semi
annually in New York City. M aturity on Nov. 1 as follows:
$75,000 in 1910, $40,000 in 1912 and $35,000 in 1914. Cer
tified check for $500, payable to the City Comptroller, is
required. Accrued interest to be paid by purchaser. These
bonds were offered as 4 ^ 3 on Aug. 2.6, b u t no award was
made on that day.
Bay City, Matagorda County, Texas.— Bonds Voted.— On
Sept. 14 this city authorized the issuance of $18,000 5%
10-40-year (optional) water-works bonds by a vote of 121 to
6.

Bay Minette, Baldw in County, A la .— Bond Election Pro
posed.— The School Im provem ent Association has petitioned
the Town Council to call a special election to vote on the
question of issuing bonds for school improvements.
Bayou Tigre Drainage D istrict, Vermilion Parish, L a .—
Bonds Voted.— Reports state that the voters have authorized
the issuance of $30,000 bonds.
Beaver D am School District (P. O. Beaver D am ), Allen
County, Ohio.— Bonds Defeated.— An election held Sept. 7
resulted in the defeat of a proposition to issue $15,000
school-building bonds. The vote was 23 “for” to 54
“ against.”
Beloit City Sch. Dis. (P. O. Beloit), Rock County, W is .—
Bids.— 'The following bids were received on Sept. 18 for the
$130,000 4 J^% coupon high-school-building bonds awarded
on that day (V. 85, p. 746) to the First National Bank of
Chicago at 100.85 and accrued interest:

[V o l .

lxxxv

.

be submitted to a vote of the people. The contract w ith
the company which now furnishes the lights expires Jan . 1
1909.
Canton, Cherokee County, G a.— Bonds Voted.— The elec
tion held Sept. 21 resulted in favor of the propositions to
issue the sewerage, water-works and electric-light-systemconstruction bonds aggregating $29,500, mentioned in V. 85,
p. 746. The vote was 168 to 6 on the first proposition,
171 to 3 on the second and 172 to 2 on the third.
Carroll County (P. O. Carrollton), Mo .-—Bonds Defeated.—
An election held Sept. 17 resulted in the defeat of a propo
sition to issue $40,000 infirmary bonds.
Carrolltown, Cambria County, P a .— Bonds Voted.— An
election held Sept. 16 resulted in favor of a proposition to
issue $25,000 fire-house-construction bonds. The vote was
72 “for” to 40 “against.”
Chambers County (P. O. Lafayette), A la .— Bonds De
feated.— A n election held in this county on Sept. 21 resulted
in a vote of 88 “for” to 1,190 “ against” a proposition to issue
$120,000 road-improveinent bonds.
Cheboygan School D istrict (P. O. Cheboygan), Cheboy
gan County, M ich.— Bond S a le — On Sept. 23 the $24,000
5% 20-year high-school bonds mentioned in V. 85, p. 747,
were awarded to Seasongood & Mayer of Cincinnati at. 102.75
— a basis of about 4.799%. Following are the bids:
Seasongood & M a y er, C in c in .$ 2 4 ,6 6 0 1H a rris T rust & S av in gs B a n k
A . B . Leach & C o ., C h ic a g o .a 24,390|
C h i c a g o ___________________ <>$24,000
O tis & H o u g h , C le v e la n d ___ a 24,063 |W . J . H ayes & Sons, C lev e - .c 24,000
a a nd accrued Interest,
expenses.

b and

furn ish

b la n k

bo nd s,

c less $475 fo r

Denomination $1,000. Date Sept. 11 1907.
Chelsea (P. O. Station Boston), Mass.— Temporary Loan.
— This city recently negotiated a loan of $150,000 w ith Loring, Tolman & Tupper of Boston at about 6% discount.
Loan matures March 26 1908.
Chillicothe, Ross County, Ohio.— Bond Sale.— On Sept. 25
F irst N a t. B a n k , C h ic a g o ___ $131,105111. K le y b o lte & C o ., C h ic ___ $130,025
H a rris T r. & S av . B k ., C h ic . 130,666| S. A . K e a n , C h ic a g o ________ 129,500
the $5,000 4% Mill and Church Street storm-water-sewer
Blanket Independent School D istrict (P. O. Blanket), bonds described in V. 85, p. 747, were awarded to James I.
Brown County, Tex.— Bonds Registered.— The State Comn- Boulger at 100.70 and accrued interest. M aturity Aug. 15
troller registered $10,000 5% 15-30-year (optional) schocl- 1916. These are not new securities, b u t bonds held in the
house bonds on Sept. 21. Securities are dated July 1 1907. sinking fund as investments.
Bonds Not Sold.— No satisfactory bids were received for
Bozeman, G allatin County, M o nt.— Bond Sale.— On Sept.5
the $25,000 5% 10-20-year (optional) coupon sewer bonds the $16,500 4% Honey Creek Storm W ater Sewer No. 1
described in V. 85, p. 482, were awarded to the Union Bank bonds offered on the same day.
Bond Offering.— Proposals will be received until 12 m .,
& Trust Co. of Helena at par.
Oct. 3, by the Sinking Fund Trustees, F. A . Stacey. Presi
Brookhaven, Lincoln County, M iss.— Bond Offering.— dent, for the following bonds:
Proposals will be received until 7 p. m . Oct. 15 by C. H . $3,500 4 % 10-year W a ln u t S treet N o . 3 bo n d s. D e n o m in a tio n $500.
D a te A u g . 15 1906.
H am ilto n, City Clerk, for $15,000 6% water-works-extension
10-year H ig h S treet N o . 1 b o n d s .
D e n o m in a tio n $1,000.
bonds. Denominations $500 and $1,000. Date Jan . 1 4.000 4 % D
a te A u g . 15 1906.
3,850 4 % 10-year W a te r Street X o . 2 b o n d s.
D e n o m in a tio n $1 ,0 0 0 ,
1907. Interest semi-annually at the City Treasurer’s office.
except one b o n d fo r $850.
D a te A u g . 15 1A06.
M aturity Jan. 1 1927, subject to call after Jan. 1 1912.
4.000 4 % 10-year R ose S treet storm-sewer bo nd v .
D e n o m in a tio n $1,0 00 .
D a te A p r il 1 1907.
Certified check on some bank in Brookhaven for 10% of
bonds bid for, made payable to the City Clerk, is required.
A uthority Sections 2835, 2836 and 2837, Revised Statutes,
Buffalo, N. Y .— Bond Issue.— The issuance of $104,862 14 as amended, &c. Interest annually at the City Treasurer’s
4% funding bonds has been authorized. Securities are office. Certified check on a national bank for 2% of bonds
dated Oct. 1 1907. Interest semi-annually at the City bid for, payable to the Trustees of the Sinking Fund, is
Comptroller’s office. M aturity on Oct. 1 as follows: $29,- required. Bonds to be delivered Sept. 30 1907. Official
862 14 in 1908, $25,000 in 1910 and $50,000 in 1912. U n circular states that this city has never defaulted in the
der the ordinance providing for these securities they are to paym ent of principal or interest. These are not new se
curities but bonds held by the Sinking Fund Trustees as
be taken at par by the Tax Loan Fund.
Butler County (P. O. Butler), P a .— Bond Offering.— Pro an investment.
Cincinnati, H am ilton County, O hio.— Bond Offering.—
posals will be received up to and including Sept. 30 by W il
liam Seibert, N. S. Grossman and G. F. Easley, County Proposals will be received until 12 m . Oct. 22 by W . C
Commissioners, for $125,000 4% coupon court-house-im- Culkins, City Auditor, for the following bonds:
G ilb e rt A v e n u e v ia d u c t bo nd s m e n tio n e d in V . 85, p . 53.
provement (Series “ B ” ) bonds). Denominations fifty bonds $257,000 4 % M
a tu r ity O c t. 15 1937.
of $500 each and one hundred bonds of $1,000 each. Date
25,000 3 .6 5 % Gest S treet fu n d in g B o n d s.
M a tu r ity O c t. 15 1947.
300.000 4 % p a rk bo n d s. M a tu r ity O c t. 15 1957
Oct. 1 1907. Interest semi-annual. M aturity Oct. 1 1928,
A uthority Section 2835, Revised Statutes. D enom ina
b u t subject to call “ $5,000 in two years from the date
thereof or at any semi-annual interest period thereafter; tion $500. Date Oct. 15 1907. Interest semi-annual
$10,000 in three years from the date thereof or at any semi Bonds are exempt from taxation. Purchaser to pay acannual interest period thereafter, and the like sum of $10- ccrued interest. Each bid must be made on a form furnished
000annually thereafter.” Bonds are exempt from taxation. by the city and m ust be accompanied by a certified check
Butler School D istrict (P. O. Butler), Butler County, Pa. for 5% of the bonds bid for, payable to W . C. Culkine, C ity
— Bond Offering.— This district is now offering at par the A uditor.
Clark County (P. O. Springfield), O h io.—Bond Sale.—
$75,000 4% coupon or registered high-school (Series “ A ” )
bonds mentioned in V. 85, p. 676. Denomination $1,000. On Sept. 23 this county awarded $2,400 4% 1-year ditch
Date Sept. 2 1907. Interest semi-annual. M aturity Sept. 2 bonds to W m . H . Sterritt at par. This was the only bid
1937, b ut subject to call $25,000 on Sept. 2 in each of the received. Date Sept. 23 1907. Interest semi-annual.
years 1917, 1922 and 1927. Bonds are exempt from State
Coffee County (P. O. E lba), G a.— Bonds Defeated.— A n
^tax. H arry L . Graham , Y ounkins’ Building, is Secretary.
election held Sept. 9 resulted in the defeat of a proposition
Cabell County (P. O. H unting ton ), W . V a .— No Action to issue $50,000 road bonds.
Yet Taken.— We learn upon inquiry th at up to Sept. 20 no
Columbus, Muskogee County, G a.— Bonds Voted.— The
action had been taken in regard to the sale of the $240,000 election held Sept. 10 resulted in favor of the proposition to
road and bridge bonds offered w ithout success on Ju ly 2. issue the $75,000 4% 1-30-year (serial) D illingham Street
See V. 85, p. 424.
bridge bonds mentioned in V. 85, p. 114. The vote was
Campbellton, N. B .— Debenture Offering.— Proposals will 776 to 1.
be received until 8 p. m . Oct. 8 by W illiam H . Miller, Chair
Columbus, Franklin County, O hio.— Bond Sale.— Local
m an Finance Committee, for $25,000 5% coupon water- reports state the $237,000 sewerage-disposal-works and the
works-extension debentures. A uthority, an Act of the Leg $156,000 Scioto River storage-dam 4% coupon (with priv
islative Assembly of 1897. Denomination $1,000 or $5,000. ilege of registration) bonds described in V. 85, p. 676, have
D ate, day of issuance. Interest M ay 1 and Nov. 1 in Cam p been awarded to the New First National Bank of Columbus
bellton. M aturity 1937. Total debt, not including this at 96.47 and 96.36 respectively. The first issue is dated
issue, $215,400. Assessed valuation for 1907 $1,350,000. Dec. 29 1903 and matures Sept. 1 1933, b u t is subject to
John T. Reid is Town Clerk.
call after Sept. 1 1913, while the second issue is dated Sept. 1
Canal Dover, Tuscarawas County, O hio.— Bond Election.— 1905 and matures April 1 1935, subject to call after April 1
A t the coming November election the question of issuing 1915. These are not new securities b u t bonds held b y the
$35,000 municipal-electric-light-plant-construction bonds will Sinking F und Trustees as an investm ent.




S e p t . 28 190Y.|

THE CHRONICLE.

Bonds Authorized.— The City Council recently passed or
dinances providing for the issuance of the following bonds:
$5,000 4 % o o o p o n N in t h A v e n u e Im p ro v e m e n t assessment b o n d s. M a 
t u r i t y S e p t. 1 1919, sub jec t to c a ll a fte r S e p t. 1 1909.
2.000 4 JA % c o u p o n W a ll S treet sewer-construction assessment bo n d s.
M a t u r it y S e p t. 1 1909, sub jec t to c a ll a fte r S e p t. 1 1908.
35.000 4 % oowpon M o u n d Street Im p ro v e m e n t assessment b o n d s. M a 
t u r it y S e p t. 1 1919.
6.000 4 % c o u p o n T h ir te e n th A v e n u e im p ro v e m e n t assessment bo n d s.
M a tu r ity S e p t. 1 1919, su b je c t to call a fte r S e p t. 1 1909.
13.000 4 % c o u p o n W h e a t la n d A v e n u e im p ro v e m e n t assessment bo n d s.
M a tu r ity S e p t. 1 1919.

Denom ination $1,000. Date not later than Nov. 1 1907.
Interest March 1 and Sept. 1 at the City Treasurer’s office.
I n addition to the above, the City Council has also author
ized the issuance of $3,000 Beech Street and $7,000 Fulton
Street 4% coupon improvement assessment bonds. De
nom ination $1,000. Date not later than Oct. 1 1907.
Interest March 1 and Sept. 1 at the City Treasurer’s office.
M aturity Sept. 1 1919, subject to call after Sept. 1 1908.
Colville, Stevens County, W ash.— Bond Sale.— On Aug.
15 an issue of $6,000 5% 1-20-year (optional) sewer bonds
was awarded to the State of W ashington at par. D enom i
nation $500. Date Aug. 15 1907.
Commerce, H u n t County, Texas.— Bond Offering.— Pro
posals will be received until 8 p . m . Oct. 7 by C. E . Randle,
City Secretary and Treasurer, for the $16,000 4 ^ % coupon
water-works bonds voted on June 18. Authority Revised
Statutes of 1895. Denomination $500. Date Aug. 1 1907.
Interest somi-annually at the American Exchange National
Bank in Dallas. M aturity Aug. 1 1937, subject to call after
Aug. 1 1927. Certified check for $500, payable to the City
Treasurer, is required. Bonded debt, including this issue,
$29,000. Floating debt, $1^826. Assessed valuation, $1,184,804.
Cortlandt Union Free School D istrict No. 8 (P. O. Peekskill), Westchester County, N. Y . — Bond Sale.— On Sept. 24
$10,000 26-30-year (serial) liigh-school-building bonds were
awarded to the Peekskill Savings Bank of Peekskill at par
for 4.35s. Denomination $2,000. Date Oct. 1 1907. I n 
terest semi-annually in June and December.
Cresskill, Bergen County, N. J . — Bonds Not Sold.— Up to
Sept. 26 no sale had yet been made of $20,000 5% bonds
offered on Sept. 3.
Crowell Independent School District (P .O . Crowell), Foard
County, Texas .— Bond Offering.— This district is offering for
sale the $4,500 5% school-house bonds registered by the State
Comptroller on July 26. Denomination $500. Date June 1
1907. Interest annual. M aturity June 1 1927, subject to
call after June 1 1917.
Darke County (P. O. Greenville), Ohio.— Bond Sale.—
Dispatches report that the $45,000 2-6-year (serial) roadimprovement and the $40,000 ditch-improvement 4 J^%
bonds described in V. 85, p. 747, were awarded to the
Greenville National B ank, the Second National Bank and
the Farmers’ National, all of Greenville, for $85,582 40—
the price thus being 100.685.
D ayton, Montgomery County, Ohio.— Bond Election.—
A t the general election Nov. 5 propositions to issue the
following bonds will be subm itted to a vote of the people:

819

Trustees, is required. Bonded debt, including this issue,
$48,000. Floating debt $23,779. Assessed valuation for
1907, $2,500,000.
El Reno, Canadian County, O k la.— Bond Offering. — Fur
ther details are a t hand relative to the offering on Oct. 1
of the $25,000 5% sewer-systcm-extension bonds mentioned
in last week’s issue. Proposals for these bonds will be
received u ntil 8 p. m . on that-day by L . G. Adams, City
Clerk. A uthority election held July 9 and an Act of Con
gress passed March 4 1898. Denomination $1,000. Interest
semi-annual. M aturity twenty years, subject to call after
ten years. Certified check for 5% of bid, payable to the
Citn Treasurer, is required.
Erie, Erie County, P a .— Bonds Proposed.— A n ordinance
providing for the issuance of $10,000 engine-house-construction bonds is before the Select Council.
Everett School D istrict No. 24, Snohomish County. W ash.
— Bids Rejected.— Bond Offering.— All bids received on Sept.
10 for $200,000 coupon school-building bonds offered on that
day were rejected. Proposals are again asked for these bonds
and will be received, this tim e, until 2 p .m . Oct. 15 by W . R .
Booth, County Treasurer, P. O. Everett. A uthority, elec
tion held July 24 1907 and Section 7361, Pierce’s Code.
Denomination $1,000. Interest (rate not to exceed 6 % )
payable semi-annually at the County Treasurer's office.
M aturity twenty years, subject to call after ten years. Certi
fied check for $10,000, payable to the County Treasurer, is
required.
Fairfax, Renville County, M in n .— Bond Sale.— On Sept. 15
$8,000 4% 6-20-year (optional) water-works bonds were
awarded to the State of Minnesota at par. Denomination
$1,000. Date Oct. 1 1907. Interest annually on Ju ly 1.
Fairfield, Solano County, Cal.— Bond Offering.— Proposals
will be received until 8 p. m . Sept. 30 by F. L . Morrill,
Town Clerk, for $20,000 5% gold bonds. Denomination
$500. Interest semi-annual. M aturity $500 yearly for
forty years. Certified check for 5% of bonds bid for is
required.
Fentress County (P. O. Jam estow n), T enn.— Subsidy
Voted.— An election held Sept. 14 resulted in favor of a
proposition to subscribe $50,000 to the stock of the Fentress
County Railroad. The vote was 724 to 154.
Fort Bend County (P. O. R ichm ond), Tex.— Bond Offering.
— Proposals will be received until Oct. 14 by D . R.Peareson
of R ichm ond for the following bonds:
$75,000 4 % court-house bo n d s.
30.000 4 % B razos R iv e r brid g e b o n d s.
5,000 4 % B e rn a rd R iv e r brid g e bo n d s.

M aturity 40 years, subject to call after five years.
Franklin, F ranklin County, Neb.— Bond Offering.— Fur
ther details are at hand relative to the offering on Oct. 21
of the $17,000 5% coupon water-works-construction bonds
mentioned in last week’s issue. Proposals for these bonds
will be received until 12 m . on that day by Jay A . Dickey,
City Clerk. A uthority, Session Laws of 1907. Denom ina
tion $1,000. Date, day of delivery. Interest January and
July at the Fiscal Agency of Nebraska in New York City.
M aturity twenty years, subject to call after five years. Cer
tified check for 5% of bid, payable to W . D . Blackwell, City
$1,500,000 grade-crossing-abolltion (c ity 's p o rtio n ) b o n d s a t n o t ex ceed ing
k•
4 % interest.
M a tu rity n o t to exceed fifty years.
Treasurer, is required. Bonded debt, this issue. Floating
• 225,000 c o m b in a tio n -police -stetlon-Hnd-firf -departm ent -engine -housedebt $161. Assessed valuation for 1907 $107,012 96.
c o n s tru ctio n bo n d s. M a t u r it y $15,000 y e a rly b e g in n in g n o t
less th a n five years a fte r d a te .
F ranklin County (P. O. Columbus), O hio.— Bond Offering.
De K alb School D istrict No. 64 (P. O. De K alb), De Kalb — Proposals will be received until 12 m . Sept. 30 by the Board
County, III.— Bonds Proposed.— This district will be in the of R oad Commissioners, A. D . Tyler, G. H . Weber and
m arket in the near future with an issue of $30,000 bonds.
Philip J. Crabbe, for $3,100 coupon Tyler Free Turnpike
Denver, Lancaster County, P a .— Bond Offering.— Pro R oad bonds at not exceeding 5% interest. A uthority
posals will be received until 7 p. m . Oct. 7 by A lvin W . Section 4808 Revised Statutes. Denominations six bonds
Mentzer, Borough Secretary, for $2,500 4% registered water- of $200, six bonds of $250, one bond of $300 and one bond
works-improvement bonds. Denomination $500. Date of $100. Interest semi-annual. M aturity $200 yearly on
Nov. 1 1907. Interest semi-annually at the Borough Treas Oct. 1 from 1908 to 1913 inclusive, $250 yearly on Oct. 1
urer's office. M aturity thirty years, subject to call after ten from 1914 to 1919 inclusive, $300 on Oct. 1 1920 and $100
years. Bonds are exempt from taxation. Certified check on Oct. 1 1921.
for 2% of bonds bid for, payable to the Borough Secretary,
F ru ita, Mesa County, Colo.— Bond Offering.— Proposasl
is required. Total debt, not including this issue, $12,500. will be received until Oct. 15 by I . H . W hittemore, Town
Assessed valuation, $290,000.
Clerk, for $25,000 6% water-works bonds.
Dowagiac, Cass County, M ich.— Bond Sale.— On Aug. 19
G allatin County School D istrict No. 59, M o n t.— Bond
$53,250 5% trunk-sewer bonds were awarded to H al. H . Sale.— On Aug. 24 $1,200 6% 5-10-year (optional) schoolSm ith of Detroit for $55,815 50— the price thus being house bonds of this district were awarded to the State
104.817. Denomination $5,000, except one bond of $3,250. Board of Land Commissioners for $1,250— the price thus
Date Sept. 1 1907. Interest semi-annual. M aturity part being 104.166— a basis of about 5.095% to the optional date
yearly on Sept. 1 from 1927 to 1937 inclusive.
and about 5.496% to full m atu rity. Denomination $100.
Doylestown, Bucks County, P a .— Bond Offering.— This Date'A ug. 24 1907. Interest annual.
borough will offer for sale at 10:30 a. m . to-day (Sept. 28)
Goldthw aite, Mills County, Texas.— Bond Sale.— The
an issue of $12,100 4% bonds. Denominations $500 and $5,000 5% 5-40-year (optional) school-house bonds registered
$100. Date Oct. 1 1907. Interest semi-annual. Bonds are by the State Comptroller on Ju ly 31 (V. 85, p. 426), h -ve
exempt from taxation.
been awarded to Mills County at par and accrued inter, ft.
East Lake, B irm ingham County, A la .— Bond Election.— Denom ination $1,000. Date June 1 1907. Interest an ru al.
Grand Rapids, K ent County, M ich.— Bond Offering.
Reports state th a t an election will be held in the near future
to vote on the question of issuing street-improvement bonds. Further details are at hand relative to the offering on Sapt 30
Elizabeth City School D istrict (P. O. Elizabeth City), of the following bonds, m ention of which was made in V. 85,
p. 748:
Pasquotank County, No. Car.— Bond Offering.— Proposals $250,000 4 % c o u p o n G ra n d R iv e r flood-protectlon b o n d s. A u h o r l v ■n
will be received until 8 p. m .O ct. 1 by J. B. Leigh, Chairman
A c t of th e L e g islatu re of 1907. D a te S e p ;. 1 1907. M a tu l ! y
S e p t. 1 1932.
Board of Trustees, for $20,000 5% coupon graded sjhool
153.000 4 % c oupon stree t- im pro ve m en t bo nd s.
A u t h o r it y , S ec tio n 199,
bonds. A uthority Act of Legislature 1907. Denomination
T itle 6. S ub- D ivisio n 1, R ev ise d C h a rte r of
ra n d R a p 'd ? ..
D a te M a y 1 1907. M a tu r ity $51,000 y e a rly on M a y 1 tr .m
$500. Date, date of issue. Interest semi-annually at any
1910 to 1912 in clu sive .
bank in Elizabeth City. M aturity one-twentieth yearly
9,000 4 % c o u p o n sewer-construction b o nd s. A u t h o l ' y ,
c tlo n 1 0 1 ,
T itle 6, S ub- D lv lslo n 1, R ev ise d C h a r ’ er o 1' G r n d Rapid-;
after ten years. Bonds are exempt from city taxes. Certi
D a te M a y 1 1907. M a t u r it y $3,000 y e a rly on M; y 1 fro m i'JJO
fied check for 5 % , payable to the Chairman of the Board of
to 1912 In clu siv e.
■ ■




820

THE CHRONICLE.

Proposals for these bonds will be received u ntil 4 p. m .
on that day (Sept. 30) by John L . Boer, City Clerk. De
nom ination $1,000. Interest semi-annually at the City
Treasurer’s office in New Y ork exchange. An unconditional
certified check for 3% of bonds bid for, payable to the City
Treasurer, is required. Purchaser to pay accrued interest.
Grapevine Independent School D istrict (P. O. Grape
vine), Tarrant County, Tex.— Bonds Registered.— On Sept.
20 $11,700 5% 25-40-year (optional) school-house bonds
dated Sept. 1 1907 were registered by the State Comptroller.
Greenwich, Huron County, Ohio.— Bond Offering.— In
addition to the $4,700 5% 1-10-year (serial) Main Street
improvement (village’s portion) bonds to be offered at 12 m .
Oct. 14 (V. 85, p. 748), proposals will also be received at
the same time and place by J . G. W hite, Village Clerk, for
$8,000 5% Main Street improvement assessment bonds.
Denomination $800. Date Sept. 1 1907. Interest annual.
M aturity $800 yearly on Sept. 1 from 1908 to 1917 inclusive.
Certified checks for 5% of bonds bid for, payable to the
Village Treasurer, is required. Purchaser to pay accrued
interest.
Harrison-Pottawattamie Drainage District No. 1, P o tta
wattam ie County, Io w a .— Bond Sale.— On Sept. 20 the
$25,585 59 6% coupon drainage bonds described in V. 85,
p. 616, were awarded to the Security Savings Bank & Trust
Co. of Toledo at 102.708 and accrued interest. Following
are the bids:
S ecur. S. &. B T r. Co. ,T o l.$ 2 6 ,278 5 9 1T ro w b r ld g e & N iv e r.C h lc ..$ 2 5 ,8 5 3 09
E m ery,A n tie rson & C o.,C lev 26,097 3 0|F arson , Son & C o .. C h ic.- 25,765 59
N ew F irst N a t. B k .. C o l- . 26,035 59j W m . R . C o m p to n B o n d &
| M o rtg age C o ., M a c o n .. 25,610 59

Hartsville School D istrict No. 32 (P. O. H artsville),
D arlington County, So. Car.— Bonds Not Sold.— No satis
factory bids were received on Sept. 20 for the $25,000 5%
20-year coupon school-building bonds described in V. 85,
p. 300.
H utchinson, Reno County, K an .— Bonds Not Sold.— No
sale was made on Sept. 16 of an issue of $48 506 07 5% bonds
offered by this city on th at day.
Maturity of Bonds.— We are advised that the $18,790 5%
street bonds awarded to the State School Fund Commission
at par on Aug. 19 m ature part yearly on Ju ly 1 from 1908 to
1917 inclusive and not $18,790 on Ju ly 1 1917 as reported in
V. 85, p. 677. Denom ination $1,000, except one bond of
$790.
Ind ia na County (P. O. In d ia n a), P a .— Bond Sale.— We
have just been advised that this county on May 17 disposed
of $125,000 4% 12-year poor-farm-and-home bonds. De
nom ination $1,000. Date Ju ly 1 1907. Interest semi
annual.

[V o l .

lxxxv

.

Lewisburg, Union County, P a .— Bond Election.— A pro
position to issue $10,000 street-surveying and fire-onginehouse construction bonds will be submitted to a vote at the
next general election.
Litchfield, Meeker County, M inn .— Bonds Voted.— On
Sept. 18 this city voted in favor of a proposition to issue
$10,000 bonds to purchase a site to offer to the State of
Minnesota for the girl’s industrial training school soon to be
located by the State Board of Control.
Lloydminster, Sask.— Debentures Not Sold.— No award
has yet been made of the $12,900 6% debantures offered on
Sept. 1. These securities are described in V. 85, p. 427.
Lorain, Lorain County, Ohio.— Bond Sale.— The $50,000
4 )^ % Black River wall-construction bonds offered on Sept.
7 (V. 85, p. 427) have been awarded to W eil, R oth A Co. of
Cincinnati. M aturity $5,000 yearly on Sapt. 15 from 1927
t:> 1936 inclusive.
Bond Offering.— Proposals will be received until 12 m .
Oct. 19 by Custer Snyder, City Auditor, for the following
bonds:
$8,500 4 yi % c o u p o n W a s h in g to n S treet im p ro v e m e n t assessment bonds
described in V . 85, p . 427.
D e n o m in a tio n $500. D a te A u g .
15 1907. In te re st M arch 15 a n d S e p t. 15 a t th e C hase N a 
tio n a l B a n k in New Y o r k C ity .
M a t u r it y $500 each six
m o n th s fro m M a rc h 15 1909 to S e p t. 15 1915 in c lu s iv e a n d
$500 on S e p t. 10 In each o f th e years 1916, 1917 a n d 1918.
13,500 4 %
B a n k Street p a v in ? bo nd s.
D a te Aue:. 15 1907. M a t u r it y
p a r t each six m o n th s from M a rc h 15 1909 to S e p t. 15 1918
in c lu siv e .
16.000 4 }4 % S econd A v e n u e p a v in g bo n d s.
D a te A u ? . 15 1907. M a 
t u r it y p a rt each six m o n th s from M arch 15 1909 to S e p t. 15
1917 In clusive.
24.000 4 >.£ % E le v e n th A v e n u e m a c a d a m iz in g b o nd s.
D a te A u ? . 15 1907
M a tu rity p a r t each six m o n th s fro m M arch 15 1909 to S ept 15
1917 In clusive.
68.000 4
% c o u p o n stree t- lm provem e nt assessment bo nd s dosertbed in
V . 85, p. 427.
D e n o m in a tio n $1,000.
D a te A u ? 15 1907.
In te re st M arch 15 a n d S ept. 15 at th e C hase N a tio n a l B a n k in
New Y o rk C ity .
M a tu r ity $3,000 y e a rly on M a rc h 15 from
1909 to 1918 In clu siv e $4,000 y e a rly on S e p t. 15 from 1909 to
1916 In clu siv e , a n d $3,000 on S e p t. 15 In each o f th e years
1917 a n d 1918.
44.000 4 y, % c o u p o n R etd Street Im p ro v e m e n t bo nd s described In V . 8 5,
p . 749.
D e n o m in a tio n $1,000.
In te re st M arch 15 a n d S e p t.
15 a t th e Chase N a tio n a l B a n k in New Y o rk C ity .
M a t u r it y
$2,000 In M arch 15 a n d $3 000 on S e p t. 15 each y e a r fro m
1909 to 1912 In clu siv e a n d $2,000 each six m o n th s from
M a rc h 15 1913 to S e p t. 15 1918 in c lu s iv e .
24.000 4 % % c o u p o n V in e S treet im p ro v e m e n t bo nd s described In V . 8 5 ,
p. 749.
D e n o m in a tio n $1,000.
D a te S e p t. 15 1907.
In 
terest. s e m i- a n n u a lly a t th e Chase N a tio n a l B a n k In New
Y o r k C ity .
M a tu r ity $1.000 on M arch 15 a n d $2,000 on S ept.
15 each y ea r from 1909 to 1912 In clu siv e a n d $1,000 eiach six
m o n th s from M arch 15 1913 to S e p t. 15 1918 In clu siv e.

Certified check for 1% of bonds bid for, payable to the
“ City of Lorain” , is required.

Loveland School D istrict No. 2 (P. O. Loveland), Larim er
County, Colo.— Bonds Voted.— An election held reoently
resulted in favor of a proposition to issue $5,000 4>£%
5-10-year (optional) school-building bonds. We are advised
that these securities will be offered for sale about Nov. 1.
Johnson City, W ashington County, T enn.— Bond Offering.
Magnolia, Pike County, M iss.— Bond Offering.— Pro
— Proposals will be received u ntil 7 p. m . Oct. 3 by W . B.
Harrison, Chairm an Finance Committee, for the following posals will be received until 4 p. m . Oct. 15 by A. L . Lazar.
Town Clerk, for the $25,000 5% school-building and refund
bonds:
ing water-works bonds voted (V . 85, p. 677) on Sept. 10
$16,000 5 % c o u p o n sewer bo n d s.
D e n o m in a tio n $100. M a t u r it y tw e n ty
A uthority Chapter 3415, Laws of 1906. Denominations,
years.
31,000 5 % c o u p o n elty - im p ro v e m e n t bo n d s.
M a t u r it y tw e n ty yea^s.
$100 and $500. Date Jan. 1 1908. Interest annually at
108,100 6 % 1-10-year (serial* c o u p o n d ls trlct- im p ro v e m e n t bo n d s.
Dethe Magnolia Bank of Magnolia. M aturity $100 yearly on
k.*
n o m in a tio n $500.
Interest semi-annual. One-half of the above bonds will Jan. 1 from 1909 to 1927 inclusive and $23,100 on Ja n . 1
be dated Nov. 1 1907 and one-half Feb. 1 1908. Bids must 1928. Bonds are exempt from taxation. Certified check
be made on each issue separately and accompanied by a for $1,000, payable to the Town Treasurer, is required.
Bonded debt, including this issue, $50,005. Assessed v a lu 
certified check for $2,000.
ation for 1906 $7,188,777. Real valuation (estimated)
Kansas City School D istrict ( P .O . Kansas City), Jackson $1,500,000. I t is officially stated that there is no litigation
County, M o.— Bonds Awarded in P art.— Of the $590,000 4% pending or threatened concerning the v alidity of these bonds
20-year gold coupon school-building bonds offered w ithout and that there has never been any default in the paym ent
success on Aug. 1 (V. 85, p. 362), $46,000 have been disposed of principal or interest.
Purchaser to furnish blimk bonds.
of to local parties at par.
M arietta, W ashington County, O hio.— Bond Offering.—
Johnstow n School D istrict No. 5, Fulton County, N. Y . — . Proposals will be received until 12 m . Oct. 3 by Carl Bocker,
Bond Sale.— On Sept. 23 the $2,500 5Vo% coupon school- City Auditor, for $8,500 (city’s portion) 4% Pike Street
building bonds described in V. 85, p. 749, were awarded to improvement bonds. Denomination $500. Date Sept. 1
the Fulton County National Bank of Gloversville at 102.50. 1907.
Interest annual. M aturity Sept. 1 1927. Certified
M aturity $250 yearly on Jan. 1 from 1909 to 1918 inclusive.
check for 5% of the am ount of bonds bid for, payable to
K ing County (P. O. Seattle)— W a sh .— Bond Offering. the City Treasurer, is required. Accrued interest to be paid
According to local papers proposals will be received until by purchaser.
2 p. m . Oct. 29 by the Board of County Commissioners for
Maysville School D istrict (P. O. Maysville), Mason
$1,500,000 43^% funding bonds. Denomination $1,000. County, K y .— Bond Sale.— On Sept. 24 $30,000 4% 20-year
M aturity twenty years. Certified check for $2,000, payable coupon school-building bonds were awarded to the State
to the County Treasurer, is required from all bidders not in National Bank of Maysville at par. Denomination $500.
the State of W ashington.
Date Aug. 1 1907. Interest semi-annually at the Bank of
K ing County School District No. 161, W a sh .— Bond Sale. Maysville. Bonds are exempt from city taxes.
— On Sept. 16 $2,000 5% 1-10-year (optional) school-building
Mecklenburg County (P. O. Charlotte), No. Car.— Bonds
bonds dated Oct. 1 1907 were awarded to the State of Defeated.— The election held Sept. 19 resulted in the defeat,
Washington at par. This was the only bid received. De by a small m ajority, of the $300,000 public-highway, road
nomination $500. Interest annual.
improvement and funding bonds mentioned in V. 85, p. 484.
KirksviUe, Adair County, M a,— Bonds Voted.— An elec
Mendon, Mercer County, Ohio.— Bond Sale.— On Sept. 23
tion held recently resulted in favor of a proposition to issue the $5,525 Market Street and the $11,975 Main Street 5%
$19,000 bonds.
1-10-year (serial) coupon improvement bonds described in
Lake County (P. O. Lakeport), Cal.— Bond Sale.— On V. 85, p. 749, were awarded to the First National Bank of
Sept. 16 $37,000 5% refunding bonds were awarded to the Celina.
State of California at par. Denomination $500. Date
Mercer County (P. O. Celina), Ohio.— Bond Sale.— Of the
Oct. 8 1907. Interest semi-annual. M aturity Oct. 8 1927, six issues of 4 ^ % coupon pike-improvement bonds, a g 
subject to call at any time.
gregating $92,500, described in V. 85, p. 544, $78,500 were
Lawrence County (P. O. Deadwood), S. D .— Bonds Not awarded on Sept. 21 to Hayden, Miller & Co. of Cleveland
Sold.— No satisfactory bids were received on Aug. 29 for for $79,388 75 (101.132) and accrued interest.
the $235,500 5% 10-20-year (optional) coupon refunding
Milford Center, Union County, Ohio.— Bond Offering.—
bonds described in V. 85, p. 427.
Proposals will be received until 12 m . Oct. 12 by A. J.




S e p t . 28 1907. J

THE CHRONICLE

Huffer, Village Clerk, for $19,700 5% street-improvement
assessment bonds. Denomination $500, except one bond
for $700. Date Sept. 1 1907. Interest semi-annual. Ma
turity two bonds each six months from March 1 1909 to
March 1 1928 inclusive. Certified check for 2% of bonds bid
for, payable to the Village Treasurer, is required.
M ilieu, Jenkins County, G a.— Description of Bonds.— The
$30,000 electric-light and water-system bonds voted on
Sept. 16 (V. 85, p. 750) will bear 5% interest and mature
$1,000 yearly on Jan.. 1 from 1910 to 1939 inclusive. We are
informed, however, that these securities will not be offered
for sale until about Dec. 1.
Monessen School D istrict (P. O. Monessen), Westmore
land County, P a .— Bonds Not Sold.— No sale has yet been
made of the $40,000 4 J^% gold coupon school-building and
refunding bonds offered on Sept. 10. For description of
bonds see V. 85 p. 617.
Monroe County (P. O. Key W est), F la .— Bonds Awarded
in P art:— We are advised th at this county has disposed of
about $27,000 of the $60,000 5% 5-20-year (optional) coupon
school bonds described in V. 85, p. 56, at par.
Montgomery County (P. O. D ayton) Ohio.— Bond Offer
ing.— Proposals will be received until 12 m . Oct. 17 by T. J.
K auffm an, County Auditor, for the following bonds m en
tioned in V. 85, p. 750:
$20,000 4 % casualty-bridge bo n d s. A u th o r it y , Section 871, Revised
S ta tu te s.
D e n o m in a tio n $1,000.
D a te N o v . 1 1907. M a 
t u r it y $5,000 y ea rly on N o v . 1 fro m 1910 to 1913 Inclusive.
C ertified check on a n a tio n a l b a n k or tru s t c o m p a n y for 5 %
o f the a m o u n t o f b o n d s b id for Is re quire d.
B o n d s to be de
livered N o v . 1 1907.
. 13,000 4 % d itc h b o n d s . A u t h o r it y , Section 4479, R evised S ta tu te s.
D e n o m in a tio n $500. C ertified check on a n a tio n a l b a n k o r
tru s t c o m p a n y o f M o n tg o m e ry for $250 is re q u ire d .

Interest semi-annually at the County Treasurer’s office.
Certified checks to be made payable to the County Commis
sioners.
M ount Airy, Surry County, No. Car.— Bonds Voted.—
The election held Sept. 16 resulted in favor of the propo
sition to issue $15,000 graded-school bonds mentioned in
V. 85, p. 484
Muscatine County (P. O. Muscatine), Io w a .— Bonds Not
Sold.— No award was made on Sept. 9 of the $150,000 4%
court-house and jail-building bonds mentioned in V 85,
p. 617.
Nashville, Davidson County, Tenn.— Bond Election.— In
addition to the propositions to issue the $400,000 30-year
electric-light-plant-improvement bonds at not exceeding 6%
interest and the $200,000 water-main-extension bonds, to
be subm itted to a vote of the people Oct. 10 (V. 85, p. 750),
a proposition to issue $50,000 4^$% side-walk-construction
assessment bonds dated Ja n . 1 1908 will also be voted on.
Newark, Licking County, O hio.— Bonds Defeated.— On
Sept. 16 the proposition to issue the $200,000 water-works
bonds mentioned in V. 85, p. 240, was defeated by a vote of
458 ‘‘for” to 1170 “ against.”
Newburgh, Orange County, N. Y . — Bond Sale.— On
Sept. 24 this city awarded $80,000 4 J^% 1-20-year (serial)
school bonds to Isaac W . Sherrill of Poughkeepsie at 100.37
— a basis of about 4.456%. Denomination $1,000. Date
Oct. 1 1907. Interest semi-annual.
Newport, Cocke County, Tenn.— Bonds Voted.— By a
vote of 108 to 52 this city on Sept. 21 authorized the issuance
of $50,0(X> water, light and sewer 4
bonds. Interest
annual. M aturity $10,000 in ten years, $20,000 in twenty
years mid $20,000 in thirty years. Date of sale not yet
determined.

821

Oklahom a City, Oklahoma County, O kla .—Bonds Voted—
Bond Offering.— An election held Sept. 17 resulted in a vote
of 4,937 to 1,265 in favor of propositions to issue $150,000
water-works and $100,000 sewer bonds. Proposals for these
bonds will be received un til Sept. 30. Official circular states
there has never been any default in the paym ent of principal
or interest. Geo. Hess is City Clerk.
Paris, Bourbon County, K y .— Bond Election.— An election
will be held Nov. 5 to vote on the question of issuing $45,000
5% school-building construction bonds. M aturity $2,500
yearly on Nov. 1 from 1908 to 1925 inclusive.
Paulsboro, Gloucester County, N. J . — Bonds Not Sold.—
No sale was made on Aug. 29 of the $46,000 registered water
and the $35,000 registered gas bonds described in V. 8*5, p.
485.
Paw Paw , Van Buren County, M ich.— Bond Sale.— On
Sept. 10 the following bonds were awarded to the First
National Bank af Paw Paw at par:
$45,000 5 % c o u p o n r e fu n d in g bonds d a te d A u g . 15 1907. In te re s t a n n u a l.
M a tu r ity $2,000 y e a rly for th e lirst lifteen years a n d $3,000
y e a rly fo r th e n e x t five years.
30 000 5 % c oupon electric- light bonds d a te d S e p t. 1 1907. Interest, se m i
a n n u a l.
M a tu r ity $5,000 y e a rly on S e p t. 1 fro m 1928 to 1933
in c lu s iv e .
20,000 5 % co u p o n w a te r bo nd s d a te d S e p t. 1 1907. In te re st se m i- a nn ua l.
M a tu r ity $5,000 y e a rly on S e p t. 1 fro m 1934 to 1937 in c lu s iv e ,
a ll bonds b e in g s u b je c t to c a ll a fte r S e p t. 1 1922.

A uthority election held Aug. 31 1907.

Denomination

$ 1,000.

Pembroke, O n t.— Debenture Offering.— Proposals will be
received until to-day (Sept. 28) b}r W . H . Bromley, Chairm an
Finance Committee, for $9,000 4J/£% public-school deben
tures. Date May 15 1907. M aturity part nearly -for ten
years. These debentures were offered b u t not sold on
Ju ly 31.
Pittsburgh, Allegheny County, P a .— Bonds Proposed.—
This city proposes to issue $150,000 4% 1-5-year (serial)
bonds for improvements at Marshalsea. We are informed
that these bonds, when issued, will be taken by the Sinking
Fund Commission.
Pleasant Valley, Marshall County, W . V a .— Bond Election.
— On Oct. 15 this town will vote on the question of issuing
funding bonds.
Port A rthur, Jefferson County, Tex.— Bonds Defeated.—
The election held Sept. 17 resulted in a vote of 53 “ for” to 75
“ against” the proposition to issue the $15,000 5% 20-40-year
(optional) street-improvement bonds m entioned in V. 85,
p. 618.
Posey County (P. O. Vernon), I n d .— Bond Sale.— Accord
ing to local papers $66,000 4% Robb Township gravel-road
bonds dated Sept. 19 1907 were awarded on Sept. 20 as
follows: $10,725 to the First National Bank of Poseyville,
$10,725 to Bozeman’s Bank of Poseyville, $9,900 to the
First National Bank of New H arm ony, $9,900 to the New
H arm ony Banking Co. of New H arm ony, $9,900 to the First
National Bank of Mount Vernon, $9,900 to the M ount
Vernon Banking Co. of M ount Vernon and $4,950 to Dernberger & Robb of Stewartsville. Denomination $825.
Reading (P. O. Station 20, Cincinnati), H am ilton County,
O hio.— Bond, Sale.— The following bids were received on
Sept. 19 for the $8,200 5% 20-year Vine Street improvement
(village’s portion) bonds described in V. 85, p. 485:
C e n .T r.& S a fe D e p .C o .,C in c .$ 8 ,7 7 4 00 |W e s te rn Ger. B k . , C i n c ____ $8,530 50
W e ll, R o t h & C o .. C in e ____ 8,755 00 I R . Ivleybolte & C o ., C i n e . . 8.448 50
S easo n g o o d & M ay e r, C i n e .. 8,656 0 0 | 0 tis & H o u g h , C le v e la n d .. 8,310 00

All bidders offered accrued interest in addition to the
amounts bid.
Roswell, Chaves County, N. M .— Bonds Defeated.— An
election held Sept. 13 resulted in the defeat of a proposition
to issue $125,000 water-works bonds. The vote was 114
Newport News, W arw ick County, V a .— Bond Offering.— “for” to 233 “ against.”
Proposals will be received until 12 m . Sept. 30 by Floyd A.
Sacramento County (P. O. Sacramanto), C al.— Descrip
H udgins, City Clerk, for $100,000 4
street-improvement
bonds. Denomination $1,000. M aturity forty years. Cer tion of Bonds.— We are advised th a t the $1,485,003 court
tified check for 5% of the am ount of bonds bid for. payable house, jail-building, bridge construction and road-building
to tlie City Treasurer, is required. Bids to be made out on and repairing bonds voted on Sept. 10 (V. 85, p. 751) bear
4}/2% interest and mature in forty years, b ut are subject to
blank bonds furnished by the City Clerk.
call, $49,500 yearly after ten years. The vote cast was
Norwalk, Fairfield County, C onn.— Bond Offering.— Pro 2,342 “ for” to 410 “ against.”
posals will be received until 2 p. m ., Oct. 10, by Wallace
Saint Bernard, H am ilton County, O hio.— Bond Offering.—
D an n , Mayor, for $35,000 4% coupon (with privilege of Proposals will be received until 12 m . Oct. 22 by George
registration) sewer bonds. Securities are dated July 1 1907. Schroeder, Village Clerk, for $5,500 4% street-improvement
and si de-walk construction (village’s portion) bonds. A u 
Interest aami-annually at the United States Mortgage & Trust thority Section 2833 Revised Statutes. Denom ination $500.
Co. in New York City. M aturity July 1 1927. Bonds will Date Sept. 15 1907. Interest semi-annually at the Citizens’
be certified to as to genuineness by the United States Mort Bank in St. Bernard. M aturity Sept. 15 1937. Purchaser
gage & Trust Co. of New York City. Certified check for to pay accrued interest.
St. Louis, M o.— Bonds Awarded in Part.— We are advised
$500 required.
that $130,000 more of the $2,000,000 3.65% 20-year gold
The official notice of this bond offering will be found among coupon renewal bonds described in V. 85, p. 57. have been
the adverrHfiawcnts elsewhere in this Department.
disposed of. This makes a total of $828,000 bonds sold to
Sept. 21.
Oberlin, Lorain County, Ohio.— Bond Offering.— Pro
Salem, Roanoke County, V a .— Bond Offering.— This town
posals will be received until 12 m Oct. 12 by O. F. Carter,
Mayor, for $10,000 43^% sewer-bed-construction bonds. is offering at private sale $25,000 5% coupon public-improveAuthority Section 2835 Revised Statutes. Denomination m ent bonds. Denomination $500. Date Sept. H 1907.
$500. Date Aug. 1 1907. Interest semi-annually. M atur Interest semi-annually at the Town Treasurer’s office in
ity $500 yearly on Aug. 1 from 1908 to 1927 inclusive. Cer New York Exchange. M aturity Sept. 16 1937. Bonds
tified check for 10% of the am ount of bonds bid for, payable are exempt from taxation. Certified check for 5% of bid,
to the Village Treasurer, is required. Accrued interest to payable to the Town Council, is required. Thos. I. Preston
is Mayor.
be paid by purchaser.




82’2

THE CHRONICLE.

San Francisco, San Francisco County, Cal. — Bonds Author
ized.— On Sept. 13 the Public Utilities Committee of the
Board of Supervisors passed a resolution authorizing the
issuance of bonds for the construction of an auxiliary water
system for lire protection.
Santa Barbara, Santa Barbara County, Cal. — Bond Sale.—
On Sept. 6 $50,000 4}4% 1-40-year (serial) East Boulevard
bonds were awarded to George S. Edwards, President Com
mercial Bank of Santa Barbara, at 100.10. A bid was also
received from the Los Angeles Trust Co. of Los Angeles at
pat. Denomination $625. Date Sept. 3 1907. Interest
semi-annual.
Sault Ste. Marie, Chippewa County, M ich. — Bonds Xot
Sold.— No sale was made on Sept. 9 of the $15,000 4% 20year fire-department bonds described in V. 85, p. 546. We
are informed, however, that arrangements are now being
made with local parties for the disposal of these bonds.
Scottdale, W estmoreland County, P a . — Bond Offering.—
Proposals will be received until 8 p. m. Oct. 14 by the
Borough Council, A. L. Porter, Secretary, for $30,000 5%
funding and improvement bonds. Denomination $500.
Date April 1 1907. Interest semi-annual. Bonds mature
in 1936. Certified check for $500, payable to the Borough
Treasurer, is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Sheraden, Allegheny County, P a . — Bond Offering.— Pro
posals will be received until 8 p. m . Oct. 14 by A. S. Hood,
Borough Secretary (P. O. Sheradenville), for $85,000 5%
coupon bonds. Denomination $1,000. Date Oct. 1 1907.
Interest semi-annual. Maturity $17,000 on Oct. 1 in each
of the years 1917, 1922, 1927, 1932 and 1937. Bonds are
exempt from taxation. Certified check for $850, payable
to th(* ‘•Borough of Sheraden” , is required. N. R . Criss
(501 Berger Building, Pittsburgh) is Borough Solicitor.

[VOL,

LXXXV.

Silverton, H am ilton County, Ohio.— Bond Side.— On Sept.
21 the $7,600 43^% 25-year coupon sidewalk-construction
(village’s portion) bonds described in V. 85, p. 618, were
awarded to the First National Bank of Norwood a t par and
accrued interest. There were .no other bidders.
Snohomish County School D istrict No. 89, W a sh .— Bond

Sale.— On Aug. 27 an issue of $15,000 5% 1-15-year (op
tional) school-building and site-purchase bonds of this dis
trict, was awarded to the State of Washington a t par.
Denomination $1,000. Date Aug. 27 190F, Interest
annual.
Soper Lake Drainage District (P. O. VandaJia), Fayette
County, 111.— Bond Offering.— Proposals will be received

until 1 p. m. Oct. 2 by Messrs. Albert and Matheney, Attor
neys, for $16,960 6% drainage bonds. Interest annual.
Maturity part yearly for nine years beginning in 1912.
Spokane, Spokane County, W ash. — Bonds Not S old. — No
bids were received on Sept. 26 for the $400,000 4% 25-year
gold Spokane River bridge-construction-and-repulr bonds
described in V. 85, p. 366.
Springfield, Clark County, Ohio. — Bonds Net Sold. — No
award was made on Sept. 24 of the $68,600 4% sewer-construction (city’s portion) bonds described in V. 85, p. 619.
Bond Offering.— Proposals will be received until 8 p. m.
Oct. 22 by F. A. Crothers, Clerk of Council, for the following
bonds:
$17,500 4 % co u p o n B u c k Creek im p ro v e m e n t b o n d s .
M ;in »r!ty $10,000
S e p t. 1 1927 a n d $7,500 S e p t. 1 1928.
5,000 4 % fire-departm ent bo n d s.
M a tu rity M arch 1 191*.

Authority Sections 2835, 2836 and 2837 Revised Statutes.
Denomination $1,000. Date Sept. 1 1907. Interest semi
annually at the City Treasurer’s office. Certified check for
5% of the amount of bonds bid for, is required.
Stanton,

Stanton

County, N ab.— Bond Offering-— Pro

posals will be received until 2 p. m . Oct. 28 for the $5,500
5% electric-light-plant-purchase bonds voted on July 15
Maturity Aug. 1 1927, subject to call after tan year* from
Sheraden School D istrict (P. O. Sheradsn) Allegheny date. W. T. McFarland is City Clerk.
County, P a . — Bond Sale.— On Sept. 17 the $30,000 5% 30Syracuse, N. Y , — Bond Offering.— Proposals \yill b i re
year coupon school bonds described in V. 85, p. 618, were ceived until 1 p. m. Oct. 8 by R. J. Shanahan,
Oomp
awarded to Emery, Anderson & Co. of Cleveland.
troller, for the following bonds:

N EW LOANS.
§

68,000

N E W LOANS.

N E W L O A N S ___

# 3 0 ,0 0 0

fj»3 5 ,0 0 0

City of Plainfield, N .J., BOJROU&H OF SOOTTDALE The City of Norwalk, Conn.,
S E W E R BONDS
P u r s u a n t to a re solution a d o p te d b y th e C o m 
m o n C o u n c il o f th e C ity of P la in fie ld , New J e is e y ,
-at a m e e tin g there of he ld S ept. 3 rd , 1907, notice
Is hereby giv en t h a t th e C o m m o n C o u n c il w ill
m eet o n M O N D A Y , T H E 7 T H D A Y O F O C T O 
B E R , 1907, A T •$ O ’C L O C K P . M ., a t th e C o u n 
c il C h a m b e r , N o . 151 N o r th A v e n u e , In th e C ity
o f P la in fie ld , New Jersey , a t w hich tim e a n d
pla c e said C o m m o n C o u n c il w ill receive a n d open
sealed proposals for th e purch ase o f sewer bo nd s
to th e a m o u n t o f Sixty- eigh t T h o usa n d D o lla rs ,
to be Issued by th e C ity of P la ln lie ld u n d e r the
O rd in a n c e of said C ltv e n title d ‘‘A n O rd in a n c e
fo r th e F u r th e r Issue o f Sewer B on ds u n d e r
•C hapter C X X X I o f the Law s o f 1890 a n d A cts
A m e n d a to r y T hereof a n d S u p p le m e n ta lT h e r e to ,
A p p r o v e d M a y 16, 190f>, a n d the A ct o f the
Le gislature o f N ew Jersey e n title d “ A n A c t to
P ro v id e for D ra in a g e a n d Sewerage In C ities of
th is S ta te ,” ap p ro v e d A p r il 7 th , 1890, and A c ts
a m e n d a to r y th e re o f a nd s u p p le m e n ta l there to.
S aid b o n d s w ill be ar d a te the F irst d a y o f M a y ,
1907. a n d be p a y a b le as follow s; t h a t is to say:
O n th e first d a y of M a y , N in eteen H u n d r e d a n d
E ig h t , tw o bo nd s; a n d o n the first d a y o f M a y of
each a n d every year th e re afte r, d o w n to a n d
In c lu d in g th e y ear 1041, tw o bo nd s; said bonds
■shall bear in terest at th e ra te of 4 ^ pe r c e n tu m
per a n n u m , p a y a b le se m i- a nn ua lly .
S a id bo nd s are to be co u p o n bo nd s a n d to be
In th e form a pprove d b y th e C o m m o n C o u n c il,
a n d n 'J ’.v on file In th e office of the C ity C lerk of
said C ity .
U p o n th e receipt o f th e b id s or proposals the
C o u n c il w',11 im m e d ia te ly proceed to unseal the
sam e a n d p u b lic ly a n n o u n c e the c o n te n ts in th e
presence o f the partie s b id d in g , o r th e ir a gen ts,
p r o v id in g said pa rtie s or a gents choose to be th e n
a n d there presen t, a n d also to m a k e proper
record o f th e prices a n d te rm s u p o n th e m in u te s
o f th e C o u n c il.
T he r ig h t to ic ie c t a n j’ a n d a ll bid s Is expressly
reserved by th e C o m m o n C o u n c il.
A ll pro po sa ls m u s t be e n d o rs e d " P rop osa ls for
purch ase o f sewer b o n d s ,” a n d shou ld In clu de
th e accrued Interest fro m d a te o f b o n d s. A
c ertified check or cash fo r 5 % of th e a m o u n t
m u s t be de posited w ith each b id .
N o bid for
less th a n paT w ill be accepted .
B y ord er of the C o m m o n C o u n c il o f th e C ity of
P la in fie ld .
D a te d S ept 3 rd , 1907.
J T . M A C M U R R A Y , C ity C lerk .

W E S T M O R E L A N D C O. , PA.
F unding and Im provem ent Bonds.
T he C o u n c il of th e B o ro u g h of S c o ttd a le w ill
receive sealed proposals for $30,000 F u n d in g a n d
Im p r o v e m e n t B o n d s u n t il 8 O ’C L O C K P . M .,
M O N D A Y , O C T O B E R 14, 1907, fo r n o t less
t h a n p a r a n d accrued interest to d a te o f de liv e ry .
B o n d s be ar 5 % in terest, p a y a b le se m i- a n n u a lly ,
s u b je c t to ta x .
D e n o m in a tio n Is $500. d a te d
A p r il 1, 1907; p a y a b le in 1936. C ertified check
o n a n a tio n a l b a n k fo r $500, p a y a b le to ord er of
B o ro u g h T reasurer, m u s t a c c o m p a n y each b id .
C o u n c il reserves th e rig h t to reject a n y o r a ll b id s .
A . L . P O R T E R , S ecretary o f C o u n c il.

0 5 0 0 ,0 0 0

Harris County (Houston), Texas,
R oad and Bridge Bonds
W i ll sell a ll or p a r t of th is Issue o f 4 % , 40 years,
10-year o p tio n B on ds. C ertified check for 2 %
of a m o u n t b id
m ust accom pany
p ro p o sa l.
M in im u m , p a r a n d accrued interest.
A. E . A M E R M A N ,
C o u n ty J u d g e H a n t s C o u n ty ,
H o u s to n , Texas.

) Philadelphia Stock Exchange.

B O N D S

F O R

43 Exchange Place,

Nev York




IW E S T H J B N T

Drexel Building,
Philadelphia.

H. W. NOBLE & COMPANY,
D e t r o it ,
ork,

P hiladelphia .

NEW YORK C IT Y

M U N IC IP A L

4 & % T A X E X EM P T

P U C L IC S E R V IC E C O R P O R A T I O N

AND

BONDS.

BONDS

MacDonald, McCoy & Co.,
T. W. STEPHENS & CO.,

ERVIN & COM PANY,
M « b * r « S N e w Y o r k 8 t0 ck K x cty u a *«>

Sealed proposals w ill be received b y the M a y o r
o f the C ity of N o rw a lk on the lO tn D A Y O F
O C T O B E R . t 907, a t or before tw o o 'c lo c k , p . m .,
fo r the purch ase o f $35,000 fo u r per c e n t c o u p o n
Sewer B o n d s, w ith o p tio n of re g istratio n; issued
b y the c ity o f N o rw a lk to p a y the expense I n 
curred for the c o n s tru c tio n of sewera.
S a id bo nd s w ill be d a te d J u ly 1st. 1907, a n d
w ill m a tu r e J u ly 1st, 1927, w ith In te rest a t the
rate o f fo u r per cent per a n n u m , p a y a b le s e m i
a n n u a lly on the first d a y s o f J a n u a r y a n d J u ly
a t the U n ite d S tate s M ortgage & T r u s t C o m p a n y
In the C ity o f N ew Y o r k .
E a c h b id m u s t be a c c o m p a n ie d b y a c ertified
check fo r $500, as security fo r the pe rfo rm an c e
o f such b id , a n d as liq u id a te d d a m a g e s In the
e v e n t o f the fa ilu ie o f the successftil b id d e r to
acc e p t a n d p a y for said b o n d s .
T he bo nd s w ill be en g rav e d n n d e r th e s u p e r
v ision of, a n d c ertified as to genu in en e ss b y , the
U n ite d S ta te s M ortgage & T rue* C o m p a n y of
N ew Y o r k C ity .
S a id b o n d s w ill be de liv ere d to th e snccessfui
b id d e r a t su c h tim e a n d p la c e ae m a r be agreed
upon.
The r ig h t is reserved to re je c t a jrv a n d a ll b id s .
W A L L A C E D A j f f . M a y o r.

N ew Y

2 W A L L ST., N E W Y O R K

BANKERS.

F OUR PER C E ^ T S E W E R B O N D S

MUNICIPAL

AND

CORPORATION

BONDS.
i8i La Salle Street, Chicago.

Blodget, Merritt & Co
BANKERS,

60 State Street, Boston
30W A8& AC S T R E E T , N EW

I S T A T E , C I T f St R A IL R O A D

YO R K .

BOND*

E s ta b lis h e d 1 8 8 S .

H. C. Speer & Sons Co.
First Nat. Bank Building, Chicago
CITY C O U N T Y
AND T O W N S H IP

RONDS

S b p i . 28 1907.]

THE CHRONICLE.

5200,000 41-i % registered court-house b o n d ? . A u t h o r it y , C h a p te r 182,
L aw s of 1898, a n d C h a p te r 685. Law s o f 1892, a n d a m e n d 
m en ts there to.
D e n o m in a tio n $5,000.
D a te A u g . 1 1907.
M a tu r ity 110,000 y ea rly o n A u g . 1 fr o m 1908 to 1927
inclusive.
160,000 4 l-i % registered local-im prov em e nt b o n d ? . A u t h o r it y , C h a p te r
684, Law s o f 1905, a n d C h a p te r 182, Law s of 1898, a n d
a m e n d m e n ts there to.
D e n o m in atio n s : $5,000 a n d $1,000.
D a te A u g . 1 1907.
M a tu rity $16,000 y e a rly o n A u g . 1
fro m 1908 to 1917 inclusive.
50.000 4 % registered lntercepting-sew er b o n d s. A u t h o r it y , C h a p te r
356. Law s o f 1907.
D e n o m in a tio n $2,500.
D a te J u ly 2
1907. M a tu r ity $2,500 y ea rly o n J u ly 1 fro m 1908 to 1927
Inclusive.
60.000 4 yi % registered fire-engine-house b o nd s. A u th o r it y , C h a p te r 182
L a w s of 1898, a n d C h a p te r 685, Law s o f 1892 a n d a m e n d 
m en ts there to.
D e n o m in a tio n $1,500.
D a te O c t. 1 1907.
M a t u r it y $1,500 y ea rly o n O c t. 1 from 1908 to 1947 in 
clusive.

Interest semi-annually at the office of the Columbia Trust
Co. in Now York. City. Each bid m ust be made on a blank
form furnished by the city and m ust be accompanied by a
certified check for 2% of the bonds bid for, payable to the
City Comptroller. Bonds will be certified as to genuineness
by the Columbia Trust Co. of New York City. The legality
of each issue has been examined by Messrs. Storey , Thorn
dike, Palmer & Thayer of Boston, whose opinion will be
furnished to the purchaser. Delivery of bonds Oct. 15.
Purchaser to pay accrued interest. The first three issues of
bonds mentioned in the above table were offered b u t not
sold on Aug. 27. See V. 85, p. 546.
Terre H aute, Vigo County, I n d . — Bond Offering.— Pro
posals will be received until 4 p. m . Sept. 30 by Chas. R .
D uffin, City Comptroller, for $100,000 4% coupon bonds.
A uthority Acts of 1905. Denomination $1,000. Date Oct.
1 1907. Interest semi-annually at the Hanover National
Bank in New York City. M aturity Oct. 1 1927, subject to
call at any interest paying period after Oct. 1 1917. Cer
tified check for $1,000. payable to the “ City of Terre H a u te ,"
is required.
Thermopolis, Fremont County, W y o .— Bonds Voted.— The
election held Sept. 17 resulted in favor of the proposition to
issue the $50,000 6% 10-30-year (optional) water-works
bonds mentioned in V. 85. p. 6S1. The vote was 109 “ for”
to 4 “ against.”

Toledo, Lucas County, O hio .—Bonds Authorized .— On
Sept. 9 the City Council passed ordinances providing for the
issuance of the following bonds:
$11,541 44 5 % c o u p o n Sewer N o . 971 c o n s tru c tio n assessment, b o n d s .
D e
n o m in a tio n $2,000, except one b o n d of $1,541 44.
D a te
A u g . 30 1907. M a t u r it y $1,541 44 on M a rc h 30 1908 a n d
$2,000 each six m o n th s from S e p t. 30 1908 to S e p t. 30 1910
In c lu siv e .
566 48 5 % co u p o n Sewer N o. 987 c o n s tru c tio n assessm ent b o n d s .
D e
n o m in a tio n $150, except one b o n d o f $116 48.
D a te S e p t.
10 1907. M a tu r ity $116 48 on M a rc h 10 1908 a n d S150
each six m o n th s fro m S ept. 10 1908 to S e p t. 10 1909 i n 
c lu siv e .

Interest payable March and September at the City Treas
urer’s office.
Troy, Rensselaer County, N. Y . — Temporary Loan.— On
Sept. 21 this city awarded $150,000 4% tem porary loan
certificates at par as follows: $50,000 to the Troy Savings
B ank , $50,000 to the Troy Trust Co. and $50,000 to the
Security Trust Co., all of Troy. Loan matures Oct. 19 1907.
Bond Offering.— Proposals will be received un til 11 a. m .
to-day (Sept. 28) by H iram W . Gardinier, C ity Com ptroller,
for the following bonds:
$56,230 16 4 y2 % 1-20-year (serial) registered p u b llc - im p r o v e m e n t b o n d s .
D a te A u g . 15 1907.
74,718 71 4 Y, % 1-20-year (?erial> registered p u b lic - b u ild in g b o n d s . D a t e
A u g . 1 190 7.

Authority, Chapter 670, Laws of 1892, Section 25, C h a p te r
182, Laws of 1898, and the Acts amendatory thereof; also
Chapter 685, Laws of 1892. Interest semi-annual. C ertified
check for not less than 1% of the bonds, payable to the
“ City of Troy,” is required. Purchaser to p a y accrued
interest. These bonds were offered as 4s on Sept. 3 b u t no
award was made on that day. See V. 85, p. 620.
Uvalde Independent School D istrict (P. O. U valde),
Uvalde County, Texas.— Bond Sale.— This district recently
disposed of the $40,000 5% school-house bonds registered
by the State Comptroller (V. 85, p. 367) on Aug 3. M a tu r 
ity July 15 1947, but subject to call $5,000 yearly after
Ju ly 15 1912
Van W ert, Van W art County, O lio .— 3 >nd Offering.—
Proposals will be received until 12 m . Sept. 39 by H . C.
Redrup, City Auditor, for the following bonds:
§5,000 4 % fire-engine-purcha'se b o n d s .
D e n o m in a tio n S I , 0 0 *.
1,500 4 % fire-engine-repair b o n d s.
D e n o m in a tio n $500.

M IS C ELLAN E OU S.

INVESTM ENTS.
O ’C O N N O R & K A H L E R
B A N K E R S

City of Camden, New Jersey,
20, 25 and 30 year 4 J^%
M unicipal Bonds.
The o p p o r tu n it y o f a life t im e to secure h ig h 
est g ra d e m u n ic ip a l bo nds.
Safest in v e s tm e n t, surest p ro fits.
L e gal for
savings banks, tru s t fu n d s . &<:.

Albert Kleybolte & Co.,
409

W a ln u t

Municipal,
County, State,
H ig h -G r a d e P u b lic
S e c u r itie s

S e r v ic e

Correspondence Solicited

F. B. S H E R M A N Sc CO.
BONDS

205 La Salle Street, C H I C A G O
M UNICIPAL AND R A IL R O A D

BONDS.
L IS T

ON A P P L IC A T IO N .

SEAS0NG00D & MATER,
M e r c a n tile L ib r a r y B u ild i n g ,
C IN C IN N A T I.

THE

SOUTH.

Property and Investments of every
K ind in all Southern States.
M E T R O PO L IT A N INV EST M ENT CO.
G E O . B E D W A R D S PresMcnt. Charleston S O .




Trustees, i n conform ity w ith the Charter of the C o m p a n y , sub m it the follow ing statement o f its a ffa irs
on the 31 st of December, 1906.

P re m ium s on M a rin e R isk s fro m 1st J a n u a r y , 1906, to 31st D ecem b er, 1906----P re m iu m s o n Policies n o t m a rk e d o il 1st J a n u a r y , 1906-------------------------

$3,190,241 07
582,191 98

T o ta l M a rin e P re m iu m s _____________________________________________________________________

$ 3,772,433 65

P re m iu m s m a rk e d ofT fro m 1st J a n u a r y , 1906, to 31st D ecem b er. 1906---------In te re st received d u rin g th e yi *vr___________________________ $356,457 98
R e n t, less Taxes a n d E x p e n s e s .____________________________
125,501 85
$481,959 83

$3,0 81 ,7 14 32

Losses p a id d u rin g th e year w h ic h w ere e s tim a te d in 1905
a n d prev ious y e a r s _____________________________________ $309,817 14
Losses o ccu rre d, e s tim a te d a n d p a id in 1906______________1,009,224 32 $1,319,041 46
Less S alv a g e s....................................... $107,176 57
Re-insurances ______________________ 150,190 74

257,367 31
$1,061,674 15

S tr e e t,

C IN C IN N A T I, O.

MUNICIPAL
AND
CORPORATION

THE

N e w Y o r k , J a n u a r y 2 2 d, 1907.
T

WE OFFER

OF

ATLANTIC MUTUAL INSURANCE COMPANY,

Street, New York.

4 9 W a ll

an d

O F F IC E;

C a ble A ddress :
“ K a lile r ,” N . Y .

T elephone :
4304-5 B ro a d

823

$52,411 11
R e tu rn s of I ’re m lu m s ................................................ ...... .....................................
_______
_ officers’
____ _ salaries
_____..........a n d clerks c o m p e n s a tio n , s ta 
Expenses, In
c lu d in g
tio n e ry , new spapers, a d v e rtise m e n ts, e tc ____________________________
$344,098 27
T he C o m p a n y has th e fo llo w in g Assets, v iz .:
U n ite d States a n d S ta te of N ew Y o rk S to c k , C ity , B a n k a n d o th e r S ec urities---Special deposits in B a nk s a n d T rust C o m p a n ie s ..------------------------------ R eal E sta te corner W a ll a n d W illia m S ts ., a n d E x ch a n g e P la c e _____ $4,299,000 00
O th e r R e a l E s ta te a n d c'a iin s d u e the C o m p a n y ------------------75,000 00
P re m iu m notes a n d B ills R e c e iv a b le _______________________________________________________
Cash In ha n d s o f E u ro p e a n B ankers to p a y losses u n d e r policies p a y a b le !n foreign
c o u n tr ie s ____ ______ ______________________________________________________________________
Sash in b a n k _________________________ ______________________________________ ______ ___________

,108 00
700 ,966 67
4,374,000 00
1 ,191,974 88
271 142 54
502 ,631 63

A g g r e g a t in g ___________________________________________________________________________ $ 12,797,
A d iv id e n d o f Six per cent Interest on th e o u ts ta n d in g certificates o f profits w ill be p a id to the
holders thereof, o r th e ir lega! representatives, on a n d a fte r T uesday th e F ifth of F e b rua ry n e x t.
T he o u ts ta n d in g certificates of th e issue o f 1901 w ill be redeem ed a n d p a id to th e holders there of,
~r th e ir legal re D resc ita tiv e s, on a n d a fte r T uesday th e fifth o f F e b rua ry n e x t, fro m w h ic h date
all interest thereon w ill cease. T he certificates to be pro d uc e d a t th e tim e of p a y m e n t, a n d canceled
A d iv id e n d o f F o rty per cent is declared on th e n et earned p re m iu m s of th e C o m p a n y for th e
year e n d ln ^ 31st D ecem ber, 1906, for w h ic h , u p o n a p p lic a tio n , certificates w ill be Issued on a n d
a fte r T uesday th e seve n tn of M ay n e x t.
B y order of the B o a rd ,
G. S T A N T O N F L O Y D - J O N E S , S ecretary.

G U S T A V A M S IN C X .
F R A N C I S M. B A C O N ,
tO H N N . B E A C H .
W I L L I A M B . B OTTLTON,
V ERN O N H. B R O W N .
W A L D R O N P. B R O W N .
JO S E P H H . CH A PM A N ,
G E O R G E C. C L A R K .
C LEV ELA N D H. D O D G E,
C O R N E L IU S E L D E R T .
R IC H A R D H . E W A R T ,

TRU STEES.
H E R B E R T L. G R IG G S ,
C L E M E N T A . G R IS C O M .
ANSOV W . H A R D ,
M O R R IS K . JE S U P ,
L E W IS CARS L E D Y A R D ,
F R A N C IS H . L E G G E T T .
C H A R L E S D. L E V E R IC H ,
LE \ NDER N. L O V E L L ,
G EO RG E H. MACY,
CHARLES H. M ARSHALL,

W . H . Ti. M O u k b ,
N IC H O L A S F . P A L M E R .
H E N R Y P A R IS H ,
D A L L A S B. P R A T T ,
G E O R G E W . Q U IN T A R D ,
A. A. RA V EN ,
JO H N L. R IK E R ,
D O U G L A S R O B IN S O N ,
G U STAV H . S C H W A B ,
W IL L IA M A . S T R E E T .

A.
R A V E N . President.
C O R N E L I U S E L D E R T . Virr-P~e*i*ent.
.T M fE R T,. LTVT\TO S T O N , "''I vi/->-President.
S\\TF O n D E . O O B B , 3(? Vl-e-Prrstdent.
C H A R L E S E . F A Y , 4th Vice-President.

THE CHRONICLE.
Authority Soction 2385, Revised Statutes. Date Sept. 15
1907. Interest semi-annual. M aturity Sept. 15 1912. Cer
tified check for $100, payable to the City Treasurer, is re
quired. Accrued interest to be paid by purchaser.
W ashington, Daviess County, In d .— Bond Sale.— On
Sept. 23 this city awarded $10,000 4% fire-station bonds to
W . R . Meredith at par. A bid of par was also received from
the People’s National Bank of W ashington. Denomination
$500. Date Sept. 23 1907. Interest April 15 and Oct. 15.
M aturity $5,000 on Sept. 23 in each of the years 1912 and
1917.
W esterville, Franklin County, Ohio.— Bond Election.—
According to local reports an election will be held Nov. 5
to vote on the question of issuing $3,183 municipal-lightplant-deficit bonds.
W hite Plains, Westchester County, N. Y . — Bond Offering.
— Proposals will be received until 8 p. m . Oct. 7 by John J.
Brown, President, and Peter Paulding, Clerk, Board of
Trustees, for $15,000 5% tax-deficiency bonds. Denomi
nation $1,000.
Interest semi-annual. M aturity Oct. 1
1917. Certified check on a State or national bank or trust
company for 5% of am ount of bid is required.
Certificate Sale.— On Sept. 16 the $38,000 5% 5-year side
walk assessment certificates described in V. 85, p. 620, were
awarded to N. W . Harris & Co. of New York City at 100.084.
W inters Independent School District (P. O. W inters),
Runnels County, Texas.— Bonds Registered.— School-house
bonds to the am ount of $5,000 were registered by the State
Comptroller on Sept. 7. Securities bear 5% interest and
m ature July 27 1927, b u t are subject to call after Ju ly 27 1922.
Wolseley, Sask.— Debenture Offering.— Proposals will be
received u ntil Oct. 1 by J. A. H ill, Secretary-Treasurer, for
$18,000 5% debentures. Interest annual. M aturity part
yearly for twenty years.
W oodbury, Gloucester County, N. J . — Bonds Authorized.
— The C ity Council on Sept. 24 passed an ordinance providing
for the issuance of $25,000 m unicipal electric-light plant con
struction bonds.
W oodruff School D istrict No. 33 (P. O. W oodruff), Spar
tanburg County, So. Car. —Bond Offering.— Proposals will

Investment Securities
60 S T A T E S T R E E T

.

Yonkers, N. Y . — Bond Offering.— Proposals will b ■ re
ceived until 11.30 a. m . Oct. 1 by John H . Coyne, Mayor,
for $240,000 5 J^% city-tax-relief bonds. A u th o rity Section
11 of Title IV of the City Charter.
Date Oct. 1 1907.
M aturity Ju ly 1 1910. Delivery of bonds Oct. 10 1907.
Yonkers School District (P. O. Yonkers), Westchester
County, N. Y . — Bond Sale.— On Sept. 23 the $70,000 4 W o
registered school bonds described in V. 85, p. 753, were
awarded to N. W . Harris & Co. of New York C ity at 104.69S
— a basis of about 4.243%. M aturity $10,000 yearly on
April 1 from 1940 to 1946 inclusive. Following are the bids;
N . W . H a rris & C o ., N . Y ___ 1 04 .69 8 1R h o a d e s & C o ., N . Y _________100.61
R . L . D a y & C o ., N . Y _______ 103.176 |W a d s w o r th & W r ig h t, X . Y - 1 00 .43
K o u n tz e B ros., N . Y ________ 101.633 ! O ’C o n n o r & K a h le r , N . V ___ 100.167
W . J . H ay es & S ons, C Ie v e _.1 0 1 .2 6 |

A ll bidders offered accrued interest in addition to their
bids.
Youngstow n, M ahoning County, Ohio.— Bonds Authorized.
— The-City Council passed ordinances on Aug. 26 providing
for the issuance of the following bonds:
$725 o % c o u p o n b o n d fo r th e purpose o t se cu rin g rig h t of w ay for W e s t
F e d e ra l S treet Sewer O u tle t a n d fo r expense o f s u p p o rtin g r a i l
ro a d trac k s over th e sam e.
500 5 % c o u p o n b o n d fo r th e purpose of im p r o v in g E a st E n d P a rk .

Interest payable semi-annually at the City Treasurer's
office. M aturity Oct. 1 1909.
On Sept. 9 the City Council also authorized the issuance of
$15,000 5% coupon city-barn-construction bonds. Denomi
nation $1,000. Interest semi-annual. M aturity $3,000
yearly on Oct. 1 from 1909 to 1913 inclusive.
Y u m a County (P. O. Y u m a), A riz . —Bonds Authorized.—
Chapter 75 of the Laws of 1907 authorizes the issuance by
this county of $75,000 5% 35-year gold coupon court-house
and jail bonds. Denomination $1,000. Date day of i'SU ince.
Interest January 2 and Ju ly 2.

M IS C ELLAN E OU S.
“ W E A R E IIV V E R Y G R E A T N E E D
o f te le p h o n e g irls” , w alls a m a n u a l o p e ra tin g c o m p a n y . In a le tte r to u s.

“ C a n y ou adv ise us

w here y o u ha v e re ce ntly re place d m a n u a l bo ards w ith a u to m a tic so t h a t we c an get In to u c h
w ith th e m ? ”

‘ W E MUST H U E
fro m som e w h e re ."

BOSTON

lxxxv

be received u n til 12 m . Nov. 4 by J. B. Kilgore, Secretary
of the B oard of Trustees for $15,000 G% school-building
bonds. Date Jan. 1 1908. M aturity Jan. 1 1928. Cer
tified check for $500, payable to the Secretary of the Board
of Trustees, is required. Purchaser to pay the c<>. . of litho
graphing and issujng bonds and all other expend .

IN VE STM EN TS .

HUNT, MANN & SALTONSTALL

[V o l .

H IR ES

W e s y m p a th iz e d w ith th e c o m p a n y , to ld th e m w here we th o u g h t th e y mlgfc:

be a b le to get som e girls; b u t we suggested th e

A U T O M A T I C S Y S T E M AS T H E SOETJTIOV

BONDS TO YIE L D
4 . 5 0 % to 6 %
O u r n ew 10-page c ir c u la r , de sc ribin g n e a rly
fo rty issues a f

M unicipal, Railroad and Public U tility
Corporation Bonds
is n o w re ad y for d is tr ib u tio n . W e suggest a
p e rsonal in te rv ie w .
A S K F O R C I R C U L A R N O . 846 F.|

E. H R O L L IN S & SONS.
21

M ilk St., Boston, Mass.

C H IC A G O

DENVER

SA N F R A N C IS C O

Perry, Coffin & Burr,
INVESTMENT BONDS
60 State Street,

o f th e ir p ro b le m , w h ic h Is b e co m in g a c o m m o n one a m o n g m a n u a l c o m p a n ie s .
c oun te red lt yet?

m ak es m o n e y , a n d gives th e best service.
in g cities:
A be rde en , S . D .
A k ro n , O h io .
A lle n to w n , P a .
A u b u r n , Me.
A ub urn , N . Y .
B a ttle Creek, M ic h .
B ea v er F a lls , P a .
B e llin g h a m , W a s h .
B illin g s , M o n t.
B u tte , M o n t.
C a d illa c , M ic h .
C h a m p a ig n , 111.
C hica go, 111.
C le b u rn e , T exas.
C o lu m b u s , G a .
C olU m bus, O h io .
D a y to n , O h io .
D e n v e r, C olo.

H a v e y ou en

W h e n y ou d o , re m em b er t h a t th e A u to m a tic dispenses w ith g lr b , saves m o n e y ,

D o w a g ia c , M ic h .
E l P aso. T exas.
E m aus, Pa.
F a ll R iv e r , Mass.
G r a n d R a p id s , M ic h.
H a s tin g s , N e b.
H a v a n a , C uba.
H a z le to n , P a .
H o lla n d , M ic h .
H o p k in s v ille , K y .
H o u s to n , T ex.
Jo n esb o ro , A rk .
L a k e B e n to n , M in n .
L e w is to n , M e.
L in c o ln , N e b.
Los A ngeles, C al.
M an ch ester, Io w a .
M a rla n a o , C u b a .

A u t o m a tic e q u ip m e n t has been a d o p te d in the fo llo w 

M a rlo n , I n d .
M e d fo rd , W ls .
M la m ls b u rg , O h io .
M t . O liv e , 111.
N e w B e d fo rd , M ass.
O a k la n d , C al.
O cean P a r k , C a l.
O m a h a , N eb.
P e n tw a te r, M ic h .
P o n tia c , 111.
P o r t la n d , M e.
P o r t la n d , O re.
P rin c e to n , N . J .
R ic h m o n d , I n d .
R iv e rs id e , C a l.
R o c h e ste r, P a .
R u s h v llle , I n d .
S a n D iego, C al.

S a n F ra n cisc o. C al.
S a n ta M o n tc a , C a l.
S a s k a to o n , S a s k ., C a n .
S io u x C ity . Io w a .
S o u th B e n d , I n d .
Spokane, W ash.
S t. M a ry 's , O h io .
T acom a, W ash .
T o ro n to J u n c t io n , C an
Traverse C ity , M ic h.
U r b a n a , Illrio ls.
V a n W e r t. O h io .
W a lla W a lla ,W a s h .
W a u s a u , W ls .
W e s te rly , R . I.
W ilm in g to n , D el.
W o o d s to c k . N . B .. C a n.

A U T O M A T I C E L E C T R I C CO.,
Van B ure n and Morgan Streets

C H IC A G O , U. S. A.

BOSTON.

IN V E S T M E N T B O N D b
L is t* s p o i l re q u e st.

Denison & Farnsworth,
BOSTON
C L K V E I A N O a n d P H I L A D V 1, P H I A .

HAND-BOOK OF SECURITIES.
JULY

EDITION.

P R IC E O F S IN G L E C O P IE S ,

-

*1 OO

T O S U B S C R IB E R S O P T H E C H R O N IC L E ,

BONDS

D E L IV E R E D IN F E W

DAYS

OrtlH cates ergraved In best manner, or partly
lithot’ raohKi and p»rtty printed

ALBERT B. hIN G & C0 .; 206 Er^adway, U.Y,




76

COUPONS

WITH OR
WITHOUT
with sieei-t Iste borders, or lithographed, or part
ly primed from type. I f the latter, then can be

WILLIAM B. DANA COMPANY, Publishers,
PINE STREET, OORNER PEARL 8TBBET, NEW YORK.
C o p i e n mi iy be b u d In r h l c a K « f r o m P . B A R T L E T T , 5 1 3 M o M i l n o ' k B u i l d W * .
L o n d o n t r o i n K O V V A i t D S Sc S M I T H , 1 l i r n p r r a ’ G a r d e n a .

or
Full text of Commercial and Financial Chronicle : September 28, 1907, Vol. 85, No. 2205

FRASER
