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tfmnmriH
Published
VOL.97
SEPTEMBER 6 1913
NO.2515
Saturday morning by
every
Jacob Selbert Jr., President and Treas.;
Arnold G. Dana, Sec.
Vice-Presidents;
WILLIAM B.
DANA
COMPANY,
George S. Dana and Arnold G. Dana,
Addresses of all, Office of the Company.
OLEARIN08—FOR AUGUST, SINCE JANUARY 1, AND FOR WEEK ENDING AUGUST 30
August.
Week ending August 30.
Eight 'Months.
Clearings at—
Inc.
1913.
6,762,195,504
633,046,362
218,335,765
Philadelphia
Pittsburgh
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
Syracuse
Reading
Wilmington
Wilkes-Barre
.
...
Harrisburg
...
Trenton......
York
___
Erie
.,.
Chester
Greensburg
Bingham ton
144,939,638
48,414,606
26,741,673
29,437,097
18,555,900
12,915,773
13.205.706
7.116.303
7.697.308
6,019,080
8,833,058
6,733,738
7,309,642
3,480,336
4,770,244
2,989,927
;
County, Pa._
Lancaster
Norristown
i
...
Montclair
Total Middle
Boston
\
...
;...
.........
111
Fort Wayne
Youngsto\yn
;
•Lexington
...
South Bend
'
Bloomlngton
Decatur
<
Danville
Jackson
Lima
+0.9
10,579 ,259,892
10,043,699,441
+ 5.3
106,199,700
94,984,656
—4.8
880 ,129,350
915,702,700
742,837,846
—3.9
54,502,105
33,380,181
27,913,300
20,882,061
14,567,839
14,289,073
9,228,098
•-V.
8,941.903
2,900,998
7,590,478
4.464.167
5,841,852
7,589,000
5,259,008
3,578,733
3,276,667
2,944,396
2,577,965
2,553,243
1,983,455
2,616,934
1,906,118
1,723,658
2,351,695
1,793,095
1,271,005
1,994,833
783,948
199,257
\
1,595,507
1,519,298
636,140
2,450,443
.
.
*
Jacksonville,' 111.
Lansing
.
•
1,419.648
1.941.304
908,260
•255,645
1,632,959
1,714,848
647,156
1/755,222
,
Adrian
...
Flint
Lorain
•
Gary
,
.
.
—7.6
—7.1
.
+ 5.4
+ 15.3
+ 10.5
+5.4
■
'
26 ,654,489
38 ,199,216
79 ,662,469
+ 12.2
+ 8.0
+ 3.4
51 ,413,956
32 ,821,100
+ 12.2
+4.8
34 ,274,794
—4.0
21 ,378,253
25 ,526,499
28 ,278,566
+4.5
+ 19.4
18 383,708
24 ;552,937
+ 21.9
+ 5.2
+ 15.4
16 ,047,311
16 ,561,012
—7.2
19 ,175,987
+36.6
+ 11.6
16 ,799,204
11 ,937,402
—2.7
16 509,744
7 +58,369
+ 15.9
+28.1
+ 2.3
+ 12.8
15 ,706,516
;
.....
...
Memphis...
.....
Nashville
Fort Worth..
Savannah
Norfolk
Birmingham
Knoxville
Chattanooga
Jacksonville
Mobile
Augusta
Little Rock
Charleston
Oklahoma
Macon
Beaumont
Wilmington, N. C
Columbus, Ga
Austin
Vicksburg
...
Columbia
...
Jackson
■
Tulsa
Muskogee
El Paso
Total Southern....
-
—0.3 1,796,591,938
1,719,065,948
—9.2
—6.0
+ 3.6
+ 5.1
+ 6.5
—8.4
+ 10.8
131,628,439
6,204,100
3,526,170
2,304,265
1,773,235
1,708,842
1,977,129
—3.4
130,989,526
6,140,100
3,429,067
2,330,094
1,901,269
1,548,480
1,880,405
871,339
768,498
725,369
627,887'
+ 3.4
481,588
—23.3
—8.4
132,670,884
144,003,946
—7.9
151,938,971
150,884,900
278,911,547
22,564,150
23,402,631
22,496,284
254,720,597
+ 9.4
238,894,570
20,854,800
19,249,972
+ 8.2
+ 21.6
+29.4
11,060,994
11,177,123
6,396,813
5,637,100
4,772,162
262,967,804
22,599,600
18,432,038
15.933,191
13,243,647
7,339,623
5,115,400
4,426,058
2,775,561
2,281,343
2,080,673
2,050,921
605,333
827,084
1,045,117
941,151
+ 14.6
+ 19.0
+ 8.0
.
—0.3
+ 5.5
+ 12.1
+ 2.9
+ 3.9
+ 5.3
+ 6.5
+ 4.5
—11.1
+ 10.9
+ 10.3
+ 8.0
+20.2
—6.1
+ 15.6
+ 14.9
+ 9.2
+3.5
+ 6.2
+ 24.9
+ 6.5
+ 7.9
+ 3.9
+ 18.6
+ 14.0
+ 5.6
+ 8.1
+41.5
17,381,556
7,300,692
6,026,000
4,696,053
3,360,389
2,625,000
2,874,197
1,891,963
581,820
823,283
1,015,602
1,565,409
1,707,000
1,200.000
520,299
879,020
616,222
509,747
639,607
483,377
693,446
478,393
400,560
525,000
511,618
277,568
358,037
156,062
45,000
295,817
+ 27.6
—22.1
—1.0
+ 14.1
+ 6.9
—1.6
+ 8.8
1,729.436
1,821,159
592,224
942,301
897,516
1,237,623'
1,260.000
1,048,706
723,325
653,405
575,588
610,093
550,219
,
376,679
523,203
399,474
394,54.5
536,300
399,791
526,222
396,911
—2.6
+ 3.1
+ 66.2
+ 3.8
—17:6
—12.6
+
+
+
+
13.2
26.5
35.5
14.5
916,937
741,395
591,494
545,848
475,195
687,563
359,333
.>'516,959
548,202
—16.6
+ 16.3
+28.4
+ 32.5
+ 19.8
+ 1.5
561,926
454,130
452,657
1—0.9
155,214
39,593
271,317
+ 0.5
+ 13.7
+ 9.0
"401,492,787
—2.1
-
+ 8.0
308,298
"820,000
608,181
665,198
518,558
586,088
+ 34.6
+ 7.1
473,806
.
919,346
368,820
506,454
21,089,600
18,360,657
14,459,636
11,299,416
9,089,835
6,447,600
4,416,887
2,685,125
2,482,236
2,341,735
1,763,198
534,027
880,149
921,098
839,066
1,051,440
361,421
'
,
1,225,000
681,278
—35.9
530,183
318,357
375,673
508,381
255,573
301,000
148,981
43,373
339,142
—10.0
•V
277,200
365,353
337,827
300,000
144,936
26,918
353,151
12 ,541,301
14,528,587,523
+ 6.1
362,307,747
+ 10.8
371,729,095
—5.5
4,282,420,512
4,192,928.928
105,462, ,810
111,670,887
—5.6
100,848,849
97,668,350
125,962,050
+ 9,7
120,285,572
133,779,243
+ 0.8
68,096,036
+ 2.0
15,683,068
—1.9
11,339, 504
11,558,836
9 422, 508 Not included in total
—8.1
11,952, 500
13,000,000
—7.3
6,533, 771
7,050,000
8,480, 453
+3.6
'8,185,348
—5.1
4,127, ,974
4,349,486
5,081, 781
+ 4.1
4,880,723
—8.0
5,487, 160
5,963,283
4,242, 071
+ 15.0
3,690,750
647
2,903,
+ 12.7
2,575,193
—0.9
2,428, 806
2,450,794
65,189,852
71,872,232
13,975,130
10.693,387
4 ,294,863
/
"
345,074,324
page
600,886,573
+ 5.4
5,13S,239,0S4
4,780,615,627
138,144, ,619
321,723,612
77,370,052
52,586;179
—5.6
2,705,081,918
612,907,418
476,856,274
172,042,858
323,611,500
2,626,364,289
673,687,847
490,706,999
Not inc uded
300,148,000
68,656, 243
15,999, 768
267,618,244
289,250,892
416,752,297
245,362,070
232,216,068
430,037,257
249,984,333
186,758,613
+ 9.7
260,614,493
143,540,970
136,635,895
214,698,184'
171,784,723
116,816,518
—2.2
111,860,802
—4.4
55,891,170
85,085,553
118,880,640
48,333,369
62,200,415
71,390,671
56,146,695
57,292,903
101,194,568
22,188,406
23,017,233
15,044,403
88,591,786
9,154,911
34,260,432
13,801,647
12,366,156
36,029,999
25,804,186
97,671,576
67.195.889
79,378,512
113,958,747
47,387,442
71,015,276
65,987,013
62,268,934
50,625,393
117,692,242
19,588,194
25,656.626
15,468,337
77.940.680
10,021,725
33,290,470
15,488,924
11,689,119
23,595,215
25,145,575
51,264,471
46.289_.515
53,100,596
Galveston
Richmond
925,742
15,410 ,043,269
644.
530,161,651
67,082,43f
Atlanta
829,224
611,541
369,731
633,598,187
Louisville
Houston
—11.7
in total
V+
303,779,145
St. Louis
New Orleans.
893,500
752,020
507,445
520,374
398,800
407,065
13,850,783
4,056,576
9,222,591
14 ,458,526
+2.4
501,174,984
1,287", 765
866,070
867,464
530,185
385,778
365,300
420,676
1,112,727
1,420,286
+ 0.8
+ 4.4
+ 5.9
+ 36.2
1,303,616
on
1,865",933
—2.9
+ 24.6
+6
+ 7.7
+ 18.9
+ 11.7
8,496,005
4,795,416
5,418,829
3,872,724
2,433,380
2,091,845
1,314,031
1,203,521
420,666
.
1 ,872,423
'
"+7.0
—4.6
27,464,114
327,161
■"
■
66 ,706,000
—31.8
44,371,624
+ 13.3
+ 19.0
+ 2.1
+ 34.5
42,953,339
32,317,857
8,423,673
4,967,641
5,478,107
3,829,564
2,337,442
2,582,641
1,282,270
1,389,351
1,106,900
1,598,433
+ 12.4
+ 23.3
+ 7.8
+ 6.4
+ 23.6
+
108,853,633
75,685,753
78,565,849
25,496,114
42,952,412
"38,558,250
50,454,186
61,768,200
42,767,953
34.954.679
29,639,946
24,622,520
19,581,987
•24,652,601
17,306,030
19,655,749
15,073,272
15.351.888
18,452,220
14,167,353
10,466,236
15,630,860
6,624,323
1,323,358
15,684,911
83 ,677,007
42 ,777,269
55 ,653,638
+ 3.5
—10.9
+ 2.1
113,702,673
113 ,135,460
+9.8
%
•
—1.3 1 547,707,250 1,462,574,219
+ 9.8
134,481,740
146,804,516
+ 3.7
739,603,507
472,060,220
291,141,854
212,469,600
162,047,749
181 ,547,231
116 ,989,180
—3.5
1910.
.
—11.2
•
224 ,111,800
—44.6
—1.2
1911.
19,814,787
22,597,298
16,258,469
22,775,500
509 ,883,907
290 ,288,914
+ 15.1
+0.8
+ 1.7
+22.1
+ 10.4
1
Dec.
34,172,417
851 ,366,403
880 ,308,573
,.—2.1
'
1,797,001,058
"1,839,9687223
Other Western
Total other West..
—35.4
'
+ 1.7
+ 36.2
_
Total Middle West-
Details of Pacific and
Total Pacific*
—1.9
V
122,823,897
6,365,400
3,461,893
2,390,402
1,881,096
2,100,000
2,003,343
767,486
680,288
'
1,232,885,831
2,182,583
....
+4.8
+ 1.2
6,950,543,151
2,367,789
3,188,171
2,005,546
1,989,236
Springfield, Ohio..
+3.1
6,368,716,364
2.440,956
3,675,478
3,084,042
2,473,937
2,667,031
.
111,521,733
5,984,700
3,586,451
2,511,055
2,004,636
1,924,386
2,219,773
741,445
V 868,272
—7.8
+8.7
5,436,469
...
Ann Arbor
—8.0
1,373,247
Not included
1,855312,728 +830,932,219
+ 2.0
—11.6
27,315,000
■
Mansfield
+ 1.9
—2,749,337
24,045,008
14,683,906
14,532,019
11,267,082
9,869,868
2.798.529
4,203,038
4,901,244
6,553,109
8,197,000
Peoria
70,367,034
93,872,659
91,058,884
—2.2
108,971,245
v
•
—6.6
•
"
38,489,532
35,427,399
17,598,050
23,079,521
16,804,785
33,137,200
125,629,713
60,235,938
35,197,108
Indianapolis
Columbus
+ 3.7
+ 2.8
752,267,083
'
314",083
•—4.4
2,766,146
2,017,298
3,499,700
....
1,213,296
total
288,143,700
165,625,555
103,515,236
76,282,606
89,596,613
89,999,711
38,963,792
Toledo
30.239.707
44,397,500
29,065,146
41,688,066
22,099,534
23,853,746
25,943,918
15,618,238
14,249,S27
11,624,891
7,130,000
9,067,683
11,975,486
5.650.530
5.385.309
7,648,357
4,743,130
6,860,000
8,763,658
2,400,000
2,105,318
1,396,060
8,299,975
872,787
3,144,892
1,479,212
1,409,502
4,790.000
'3,087,351
5,745,006
Not. inc uded
'
f
42,479,500
34,620,414
42,236,177
23,145,288
22,974,689
24,439,837
17,600,663
12,986,369
11,884,885
7,456,883
9,732,982
12,464,885
5,263,751
6,509,567
7,376,781
5,546,865
6.108.168
10,796,698
2,296,852
2,851,155
1,466,234
8,648,464
964,691
3,157,567
1,594,218
1,124,225
3,044,262
2,802,204
5,254,122
754,437,270
,
Total all.
—13..3
+ 9.8
In
total
+4.5
—16.0
—1.3
+ 3.8
+ 6.2
—11.3
—(5.8
—3.9
+ 7.3
—17.3
+ 3.7
—14.5
+ 12.3
—18.8
+4.5
—23.1
—4.8
—4.0
—9.5
—0.4
—7.2
+ 25.4
+ 57.3
+ 10.2
+ 9.5
___
•
6,920,997/863 ~6,824,591,019
-6.3 HI
-179
Clearings by Telegraph and Canadian Clearnigs
.
—4.5
7887508,349
12,377,889,889 13,208.383,745
Outside New York.
5,615,695,385 57722,100,185
IST
in
275,506,200
168,886,427
106,677,295
8,708,808
•
Meridian
744,469
865,045
661,913
603,476
482,700
412,887
—8.8
1,245,128,185
101,076,300
100,098.451
^
Owensboro
722,536
966,098
824,966
640,292
519,300
490,972
32,261,800
18,305,811
12,111,299
9,328,348
10,218,871
10,239,963
4,138,233
4,306,792
1.874,178
3,820,300
....
Milwaukee
Quincy
Not included
1,536",978
—5.1
—2.6
"564,821,891
Detroit
Rockford
14,441,437
1,557,056
1,275,768
2,103,920
—9.6
...
Canton
8,236,412
9,825,028
17,040,130
54,073,784
15,634,559
1,551,997
+9.0
+ 19.3
+ 11.4
+ 14.1
+ 12.7
+24.0
+ 10.2
+ 11.6
+ 8.7
+ 5.6
6,005,572,967
.-.-i.-
Akron
17,358,932
'
1,643,144
75,725,315,467
9,994,504
10,430,982
3,809,439
4,223,181
.1,776,436
2,557,735
Total New England
Springfield,
.
20,401,292
20,498,601
21,042,300
128,050,977
49,266,684
33,466,611
9,301,072
4,608,389
5,683,486
3,154,244
2,300,000
2,309,253
1,369,925
1,308,013
1,250,123
1,564,585
29,818,243
10,454,755
5,680,268
6,128,407
3,358,666
2,843,315
2,203,502
+9.7
6,430,948,578
.....
Kalamazoo
—10.2
4,281,575
+ 11.4
2,509,827
+ 19.1
2,424,127
+37.0
2,537,200
+ 13.4
2,247,235
+ 7.0
1,134,627
+ 19.0
—-1*8.3
1,195,872
2,171,257
+ 10.3
r
5,730,995
+ 1.2
1,821,282
+ 5.4
Not Included in total
67,039,390
44,961,163
58,911,091
33,831,056
33,145,983
737769,931,817
■_
Grand Rapids
Dayton :
Evansville..
+ 7.2
+ 21.7
+2.9
3,874,146
•
—8.6
1
Worcester
Fall River
.....
—3.3
8,240,371
5,534,833
7,106,427
105,135,384
102,492,322
64,138,829
61,154,593
53,602,804
76,479,379
54,444,018
64,610,457
32,102,319
36,133,920
24,344,535
22,836,470
24,008,700
19,560,689
10,213,415
10,822,989
19,015,563
58,767,786
16,511,751
'
—12.9
.
Springfield
Cincinnati
Cleveland
—3.6
+ 14.6
+ 12.6
+4.0
+ 9.1
S
140,626,754
50,999,367
+ 6.4
+ 8.2
+ 4.1
+ 9.2
+ 7.6
+ 2.4
+ 5.1
+ 10.8
+ 14.7
+ 8.8
+ 11.1
+ 6.8
+ 14.1
+ 21.1
29,428,800
18,991,467
12,445,133
Portland
Waterbury*
+4.7
-\o
1912.
$
I
1,559,820,100.1, 580,618,142
•
643,823,275
V-
New Haven...
Holyoke
Bangor
+ 0.1
+ 5.1
7,983,889,334 "87739,559,03i
...
.....
New Bedford
Lowell
—17.6
65,543,574,381
5,299,246,790
1,832,667,511
1,272,459,266
372,254,323
207,107,185
264,173,265
163,410,987
94,898,794
89,291,808
58,977,916
55,063,282
50,190,138
1913.
Dec.
560,581,228
—
.....
Providence
Hartford
Chicago
1912.
62,898,046,087
5,636,977,886
1,982,305,164
1,324,635,379
406,551,314
222,757,253
270,448,048
171,824,763
+0.8
•—6.8
7,054,111
6,224,801
2,878',400
2,404,335
1,350,459
1,096,530
2,395,944
5,796,168
1,910,838
1,660,494
....
.......
Frederick..
Beaver
1.913.
—9
628,006,106
234,235,395
175,953,062
48,357,283
25,447,830
28,102,370
19,245,590
11,273,279
11,732,710
6,842,160
3,320,000
Altoona
Franklin
Dec..
7,486,283,560
Inc. or
Inc or
S
New York
Wheeling
1912.
or
on
.890,348,609 113,002,681,745
4,899,301,522
page
643.
47,459,107,364
*
1,750, 000
1,941, 684
2,425, 198
1,199, ,872
1,266, 265
1,449, 850
1,020, 317
1,355, 881
1,800,000
2,181,185
2,500,000
1,050,097
—2.8
—11.0
—3.0
+ 14.2
1,435,957
—11.8
1,923, 903
1,410,155
1,085,180
1,270,168
2,160,704
—11.0
2,061,233
145,217
2,328,961
161,075
+ 2.8
17,840,638
9,898,789
'
11,051,500
6,742,449
8,566,870
3,341,816
3,745,569
4,523,171
5,305,816
2,280,874
1,943,831
1,780,046
1,708,405
2,350,000
1,185,325
1,317,909
1,145,678
—6.0
808,681
+ 6.7
1,333,112
2,425,000
—11.5
—9.8
"
1,931,689
170,438
8,793,500
6,188,610
6,808,077
3,295,520
3,291,274
4,631,201
3,315,396
2,191,376
2,122,274
1,895,684
1,333,278
1,871,381
1,289,340
1,177,629
1,054,043
931,045
2.027,820
3,605,000
1,200,000
180,575
'
246,958
*"253/467 "—2".5
230/660
"270/000
300,000
891,549
665,744
234,141
642,847
630,896
+ 28.1
214,342
420,097
592,283
205,000
+ 5.5
165/8^7/2+9
166,628,390
■=074
158,044,180
151,796/244
+ 38.7
2,769.091 ;071 2,741,505,139
+ 1.0 2,099.438,605 3,598,269,009
+ 3.2: 1,209,270,971 1,160,886,997
-+473 1,151,731,365 1,135,094,790
Not included in total for month and eight months^ comparison
incomplete.
r',:.
616 \
'
^
^^::r VM
CHRONICLE
THE
other
THE FINANCIAL
SITUATION,
increasing business,
additional
truth
profits by
but without deriving any
reason
is, railway net income is really diminishing,
notwithstanding the roads
than
The simple
of that fact.
doing
are
larger business
a
Evidence of the continued
before.
ever
in traffic is furnished in the
words, with $2,348,994 increase in
New York
The railroads of the United States continue to do
an
Central
Erie
but
$133,824
gross,
RR.
Valley RR. lost
moved
penses
company,
in
The
net.
Lehigh
($86,006), while
gross
ex¬
$182,100, and consequently the
up
finds itself $268,106 out in net.
In other parts
of the country the showing is the
The Southern Pacific
same.
increase'in
$156,665
reports
decrease
little in
a
the
gross,
System falls $841,025 behind in
The
net.
growth
practically uninterrupted
[VoL/ xcvn
trifle
lower
Company, with
gross
(namely $1,380), finds
Unfortunately,
revenues
though; owing to the rising cost of operations, returns
expenses
higher by $784/803, leaving it, therefore,
of gross
$786,183
poorer
gains shown in the
the
receipts
gross revenues.-
longer furnish
no
of the net
course
In face of increasing
earnings.
efficiency of operations, the margin
greatly enlarged volume of traffic
much net.
contracting net
concurrently with expanding
happens, too, the railroads
obliged to provide
The rise in
eral years,
now
ter is of
;
rapid
very
momen¬
stage where it fur¬
a
deepest solicitude.
The mat¬
and
trainmen
an
considering the demands of
now
large body of railroad employees (we
the
sev¬
special importance at this time because
arbitration board is
a
*
conductors
the
mean
the railroads
on
of
east
Mississippi and north of the Ohio and Potomac
rivers) for another advance in
obtained
wages
similar to that
by other classes of employees
the
on
returns
of' earnings
received the
last
two
fiscal
of the
year) tell
an
eloquent and harrowing tale
hardships the railroads
time when their lot appears to
by
be
uniform in their character and
tendency, should
sight of at the present moment.
has been
a
veritable succession of returns
moderate
or
large gains in
gross
heavily reduced net.
hibits of this nature
panies and
have
this
by
week
The
come.
a
There
recording
earnings coincident
Last week
had
we
number of prominent
a
ex¬
com¬
of the salhe character
more
Pennsylvania ItR.
tioned first because it is such
time such
gross
The significance of these July statements,
not be lost
with
a
of prosperity
one
of continued improvement in their
reason
revenues.
so
experiencing at
are
a
may
representative system.
for that
$1,995,053 to the total of their
month of
,746 in net,
than
last
because of
$2,727,799 in
lines have added
revenues,
augmentation in
and yet
year
an
For the
expenses.
no
lost
augmentation of
of the current calendar year
gross
maintenance
the
seven
$732,less
months
$16,944,763 to their
but this has been attended by
expenses
in the huge
sum
an
of $21,-
much
a
expended in July 1913 than
was
in connection with its return,
was
makes reference to the
part played by the floods experienced in the Middle
West the latter part
of March and the early part of
But while special cir¬
expenses.
have
cumstances
doubt
no
amounts to the expenses,
served
add
to
extra
the movement is much too
general and too pronounced to be ascribed to
ex¬
traneous circumstances
un¬
or
influences.
favorable returns of net have been
a
Besides,
characteristic not
merely of July, but of other recent periods,
have
seen
in the
case
of the
vania RR. lines for the
as
we
figures,of the Pennsyl¬
period from Jan. 1 to July 31.
In brief, the condition is a general one, typical of
the entire railroad situation.
Unfortunately, too, the rise in
be
expenses
appears
assuming steadily growing proportions/
The
Chicago & North Western added $733,861 to its
receipts, but
expenses
and taxes increased $741,098,
The Rock Island lines
leaving the net $7,237 short.
added
$75,823 to gross, but suffer a shrinkage of
The Northern Pacific, with
$359,537 in the net.
$322,144 gain in gross* has lost $20,540 in net.
"Soo" road,
though having enlarged
gross
not
are
Southern
exempt from the general tendency.
The Louisville &
gross,
of
Railway sustained
but the, Southern
decrease of
tation
Nashville, it is true, has managed
the net $61,281 out of a gain of $424,018
to save for
in
The
by $250,-
085, suffers a decrease of $19,177 in net.
roads
$30,000 in
gross,
attended by an
$126,946 in expenses,
a
augmen¬
thus producing
a
The controlled properties,
and the Georgia Southern &
Florida, likewise have losses in net contemporaneous
with improvement
in the
gross.
With net thus being reduced while gross' earnings
gross
no
explana¬
an
July 1912, and the .New York Central,
like the Mobile & Ohio
the Pennsylvania RR.
less than
in
case
same
During July the
case
larger proportion of the total yearly allowance for
loss in net of $156,946.
Eastern and Western lines combined'of the Pennsyl¬
vania added
In this latter
$671,836.
men¬
be
large and at the
The Union Pacific for
tory statement has been issued, saying that
to
weeks for the. month of July, (the first month of the
new
reduced
same
roads.
The
in the net.
the month has added $4,024 to gross but finds net
April in swelling
has been persistent for
is gaining
nishes occasion for the
As it
earnings.
all the time being
are
requirements.
expenses
and
gross
coming
are
revenues
Indeed, it has reached
tum.
longer yields
no
capital, thus extending in¬
new
terest and dividend
even a
To state the situation in
before.
as
another way,
profit is
of
Accordingly,
constantly being diminished.
as
criterion of
any
a mere
quite generally.continued to rise, what may we expect
that further expansion in gross revenues seems
now
in
jeopardy by reason of the corn-crop shortage, while
other drawbacks to
the result of
ing
expanding
revenues
loom
tariff revision and uneasiness
banking and
Canadian systems,
currency
legislation.
up as
concern¬
Even the
which have been having such
a
682,113, leaving the system $4,737,350 worse off in net,
wonderful record of expansion, are beginning to make
notwithstanding the larger volume of business done.
unfavorable returns, the Canadian Pacific for July
The New York Central and its
trolled roads have had
a
auxiliary and
con¬
precisely similar experience.
having suffered a decrease
of $59,337 in
gross
and of
$331,384 in net.
The,Central itself in July made $838,904 increase in
gross
with $147,772
-various
decrease in net.
auxiliary roads, the result is still
Adding the
worse.
In
At
a
time when the outlook for the railroads is
thus clouded, there comes
another terrible accident
Sept. 6
the New York New Haven & Hartford RR.
on
The
Government investigations that have already been
set
reference
with
foot
on
to
disastrous collision at North
Tuesday morning's
Haven, Conn., in which
the first section of the White Mountain express ran
second section of the Bar Harbor express
into the
while the latter had been
true
of that
cause
and
halted, will determine the
accident, in which 21 lives
double that
number
of
persons
lost
were
injured.
were
617
CHRONICLE
THE
1913.]
inevitably result
all the
as
destroyed, and in fact
sleepers in the entire train,
were
been of steel construction the lives of the
cars
has therefore gone up all over the land
A demand
that wooden cars in the passenger
and
replaced by steel
service be abolished
The New Haven road,
cars.
that disaster
what the recommendations made
and
are
of
preventive
both
railroads
for
account
be
may
will heed this demand, no matter
sure,
Remedial
Commission and
will immediately follow-
measures
the result of
as
be turned to
to
sure
the
gressional action
in
general.
voluntary action
of the roads themselves and of
the part
on
legislation forcing the
adoption of additional precautions.,
As far
the
as
for
or
by the Commerce
matter whether there is Con¬
no
not, on the subject. ' Indeed, it
it had already arranged to substitute steel
appears
part of the wooden equipment before this latest
accident occurred.
New Haven itself is concerned the company has a
executive in the person
occu¬
pants of the sleeping berths might have been saved.
we
benefit
of the wooden
It is argued with much force that had the
type.
Whatever the results of the inquiry, the lessons of
the
of this week's
consequence
a
The two sleepers
disaster.
But other
.
railroads, it
may
be confidently asserted,
of Howard Elliott, who
will also be called upon to
assumed his duties at almost the very hour of the
will necessitate the raising
accident, and he
may
be trusted to proceed vigor¬
pay
ously to
any
faults of management
shrinkage in net earnings, of which the July returns
new
remove
methods that may
be found to exist.
too, may be depended
full extent of their powers
financial
to the
up
and also to place unlimited
at his command with
means
of
The directors,
to back him
upon
or
view to insur¬
a
ing safety of travel and restoring confidence in the
system,
now
Two main
what
sadly disturbed.
so
be done to prevent the recurrence of such
can
deplorable
accidents,
and, secondly, what
done to minimize their effects, and protect
of those
human
First,
the train when
on
precaution.
On
they
be
despite all
occur,
first
the
can
the lives
point
of the
cause
occurred if the
after his train
torpedoes
on
require.
It
to
the track,
appears
as
as was
a
can
cases
back)
a
full half mile
done to
make
the
it appears
he
few hundred
a
powerful locomotive such
a
signal-man
back the
go
train.
cover
-
the
last
two
.
half-mile,
the recall whistle?
have recalled the
elapsed to
cover
own
what
the
On the
on
his part,
flagman before enough time had
These
are
questions
of determination, and
easy
every
ought to study their application
particular
Inter-State
have to say
gone
after the engineer blew
Should the engineer,
railroad in the land
to its
even
the half-mile?
ought to be
cluded its
for the flagman to
required, distance, and he should have
back the full
that
the White Moun¬
sleepers in. the Bar Harbor
Was there time enough
the.
In this
crashing along and completely de¬
came
molished
What
short distance.
train, but before he could return
tain train
case,
without waiting to
Commerce
Commission
regarding thej matter after it has
hear
point,
Cotton, suffered
important decline in condition
an
at
noon
on
after every precaution has been
occur,
degree, in
some
other localities
less favorable than
them, it is already apparent that
one
thing will
a
and, in lesser
result of drought
issued
as
was
supposed, and occasioned
a
quite important advance in the price of the staple.
Condition, in fact,
placed at only 68.2,
was
drop of 11.4 points from July 25; .at the
(Aug. 25) last,
year
the condition
10-year average 74.7.
ceding thirty has
Aug. 25.
on
suffered
a
years
of the
The whole cotton belt has not, of
from
the
a
date
74.8, with the
was
In only three
same
or
pre¬
lower condition been reported
drought this
course,
On the
summer.
contrary, in Atlantic sections the plant maintained
oh
Aug. 25 its status of
prpvement
linas.
even
But in
a
month earlier,
a
little im-,
having been reported in the Caro-
Texas/ Oklahoma, Arkansas and Lou¬
isiana the deterioration has
nounced and the
apparently been
very pro¬
month
has been
promise of
a
ago
quite
a
little reduced in Alabama and Mississippi.
From
a
condition of 81 in Oklahoma
on
July 25 the
drop is to 45; Texas is down to 64 from 81, Arkansas
to 72 from 87 and Louisiana to 67 from 79.
The report
(which is given in detail in
It is to be
adopted to prevent
as a
high temperature, but the report
con¬
even
The trade had expected
Tuesday.
marked deterioration in the Southwest
Department) calls for
to what can be done to
protect' human life when accidents do
*
no
our
Cotton
extended further comment.
said, however, that there is
to believe that the
as
Driving
*
may
investigation.
second
im¬
bankruptcy will not promote safety
of operations.
even
company
recalled by the engineer of his
was
more
legislator will have to grapple with.
the roads into
the rules of the
required distance, if he is' not/so inclined?
case
of
drawing the White Mountain train cannot be
be
that the
and
brought to astop within such
becoming steadily
It is this most serious phase of the problem
paired ?
stop and placed warning
he went back only
feet, and it is agreed that
railroads is undergoing contrac¬
of the
tion and their credit is
Aug. 25, issued by the Department of Agriculture
gone
a
more
which to run) while the
than in most
flagman of the Bar Harbor train had
came
over
during August, according to the official report for
The collision could hot have
back (or could have
gone
and also to further strengthen
collision is freer from
doubt in tlie present instance
disasters of that kind.
the railroads get the capital
(for heavier trains involve
substantial structures
income
to
testimony, must be taken into
can
needed for that purpose
roadbed and track
This
money
falli¬
the
bility of human agencies is strikingly in evidence.
The immediate
How
consideration.
of
sums
Here is where the
equipment.
new
afford such abundant
net
things remain for determination.
for the*
make substitution.
of large
a
disposition
damage done by the drought and
high temperature has been somewhat exaggerated
and
that, with rain in the very near future, the outlook
will be
more
dency in
encouraging.
some
At the moment the ten¬
quarters is to construe the report
as
618
THE
pointing to
1912
yield
a
much less than that from the
very
planting, but for such
or no
warrant thus
a
early.
conclusion there is little
We have
seen many crops
that seemed below the average in promise on
turn out well and others that
cellent
Sept . 1
apparently in
were
shape at that date make
ex¬
disappointing
a very
Two .years ago, for instance, condition on
return.
Aug. 25
only 5 points higher (73.2) than in the
was
current year, but the record yield, 16 million
secured.
was
CHRONICLE
In 1902,
64, a,better than
on an
average crop
bales,
Aug. 25 condition of
resulted.
It is there¬
[Vol.
xcvri;
data from all other countries in which the
staple is
turned into goods, and from which reliable
grown or
information
adding of
be
can
obtained.
Furthermore,
features from time to time
new
make the reviews
the
serves
to
complete and comprehensive
history of the world's cotton crops as could possi¬
bly be presented in cond^nse'd form so soon after
as
a
the end of the
The casual reader
season..
probably
does not appreciate the immense amount of work
inseparable from the compilation of
statistics given.
of the
some
Especially is this true of the table
fore apparent that weather conditions and time of
covering Southern consumption, in the preparation
frost
of which
important factors in the ultimate outcome.
are
virtual
a
of the
census
lishments of that section is
Bank
clearings for the month of August this
year
ing out of much
in the aggregate make an exhibit differing in no
essential way
a
compilation show gains over
our
but at New York and
year ago,
A majority of
from those for July.
the cities included in
other leading
some
been
a
yield would be quite appreciably less than that. of
1911-12 but.
the estimate of the
Consequently, for the country
whole
as a
the total is smaller than last year.
Or
39 of the
a
of this issue, shows that
cities included record increases
152
over
leaving 63 that have failed to equal their
year ago,
1912
the first page
on
totals.
The
loss
for
whole .country,
the
in
as
larger than in
belief
in
The decline at New York for the month is
sus
mercial crop, as
or
.
gain of 3.2%.
Transactions at the New York Stock
August, while
than for the
little larger than in July, were less
a
month of any year
same
since 1900, and
sales for the eight months were smaller
like
period of
any year
that speculation, with
has been
totaled
only
shares
year ago,
a
everything done to hamper it,
6,086,374
Sales of stocks in August
against
shares,
8,952,358
14,994,533 shares in 1911 and
24,637,783 shares in 1909.
months the total is.
compares
than for the
since 18971—a clear indication
distinctly dull.
less than
-
Exchange for
no
For the eight
only 57,467,687 shares, which
with 85,497,222 shares in 1912 and
aggre¬
compilation,
our
com¬
14,128,902
but 2 million bales in excess of 1910-11.
ing been marketed
a
The
nearly 2 million bales less than in 1911-12,
der of the country
there is
further
was
distinguished" from the actual yield
the crop,
the eight months
growth
Bureau made public in March, which made the
9,7% and for the longer period 4.0%; for the remain¬
the August loss is 1.9%, but for
production of 13,820,000
total, including linters, 14,076,430 bales.
reached, according to
1.00%.
.
This
season.
strengthened by the final ginning report of the Cen¬
bales,
reached only
a
14-million-bale
a
compared with August of last year,is 6.3%, but for
year
other
(not including linters), served to confirm, and
the
eight months of the calendar
any
Department of Agriculture, issued
December, indicating
bales
compilation for the month, which is presented
in detail
time past. There
some
agreement early last fall that the
element in
revealed.
of 1912-13 has not actually
conjectural matter for
substantial
centres, where financial operations are an important
swelling clearings, losses from 1912 are
thousand inquiries.
over a
The size of the crop
was
manufacturing estab¬
taken, involving the send¬
In value,
however, exceeded the preceding one, hav¬
upon a
higher basis of values.
Consumption, both in the South and in the North,
showed ah increase
over
the
previous
record,
Operations of the mills here
terrupted to
and the
year,
aggregate in each instance established a
new
were
high
not in¬
mentionable extent by labor dis¬
any
turbances, but shortage of help interfered with full
working
of. machinery,
The financial returns to
whole
little better than in
a
satisfactory
in
as
surplus supply of
during the
trade
especially
in
year,
cotton
1911-12,
average
an
raw
were
the
on
not as
The world's
year.
cotton, depleted only slightly
of large volume.
was
North.
the
at
manufacturers, while
Our export
goods exhibited further moderate
gates running all the way from over double to nearly
expansion, the aggregate value of shipments abroad
four-fold in 1910, 1909, 1906
for the fiscal year
Canadian
clearings, too,
than for the
and 1901.
again less favorable
are
corresponding period of the preceding
losses having been recorded at
year,
a
number of
and Edmonton.
mills
which
comparative reports
obtainable shows
are
a
9.5%, but the eight-months
was
The
further
Our
review
distribution
(1912-13),
of
and
the
cotton
crop—its
manufacture—for
the
marketing,
past
season
presented in considerable detail in
editorial columns
to-day,
covers
States
spindles,
1913
So far
as
has
us
for. close
on
our own
readers but
fifty
years,
and while devoted
particularly to the details of the production and
ufacture of cotton in the United
repay
These reviews have been issued by
to
prominent.
as we
The total of the
compile it,
against
was on
Aug. 31
141,210,654 .spindles
a
(
our
statistical and other
be of
study.
extent in
some
earlier and 139,380,477 spindles in 1911.
year
there has
passing interest to
most
142,456,592,
information that will, we should judge, not merely
careful
spinning capacity of the world's
augmented in 1912-13, most of the
made; with the Southern section* of the
United
-
al¬
slightly the outflow of
manufacturing countries sharing to
the additions
world's
aggregate exceeds 1912 by 0.9%.
very
1905-06, when the takings for China were of phenome¬
nal volume.
decline for the month of
for 1911-12,
$50,709,511
though exceeding but
leading cities, notably Ottawa, Vancouver, Calgary
The total for the twenty cities from
ended June 30 1913 having been
against
$53,743,977,
man¬
.States, contain also
so
indication,
yet been no break in the deadlock that
compeletely
situation.
more
official announcements are any
as
developed
over
the
Unofficial)"advices, however,
optimistic and. Washington
state
that the President
gards
as
satisfactory
press
Mexican
are
rather
dispatches
has received what he
assurances
re¬
that Huerta will not
.
Sept. 6
be
The
approaching election.
contained in the second note of the
are
Foreign Minister Gamboa to John Lind and
Mexican
in
at the
candidate
a
assurances
verbal exchanges between Senor
supplemental
Nelson
and
Gamboa
O'Shaughnessy Charge d'Af¬
faires of the American
Embassy in Mexico City.
It
is the tenor of the conversation betwen Gamboa and
O'Shaughnessy that has strengthened the Govern¬
ment's
interpretation of the Gamboa note to the effect
that Huerta will not be
The Adminis¬
candidate.
a
tration, it is reported, has decided to take Huerta's
good faith for granted and is confident that the elec¬
tions will be held in Mexico next month
advices
Press
that
state
Administration
elections, though
it
is
scrutinize
to
the
the
as
planned.
purpose
character
of the
the method the United States will pursue to
the
of
indication has been given
no
as
to
determine
whether the elections have been carried out in accord¬
with the
ance
provisions of the Mexican Constitution.
President Wilson expects the elections to be
in all parts
of Mexico
on
the
for
ments
others, in the
participation
voting.
held
October 26, though he is
leaving entirely to the Mexican Government
of
revolutionists
and
her demands for the recog-
Mexico has withdrawn
the American refugees who recently crowded
among
that
into
with first-class
Most of the Americans,
port.
while
some
American
an
of them reported
well to do, arrived at the Consul-General's
be
office under the
financial aid.
forced to
impression that they
They
answer
The
penses.
the Consul's questions
was
were
to whether
as
to pay their
money
feeling
same
to be given
were
indignant when they
were
they had enough
not
or
expected to
seems,
accommodation
and with first-class passage to
there
to
Everybody, it
city.
be furnished
own ex¬
shown when it
was
learned that the Consul could furnish only secondclass
Usually conservative
transportation.
press cor¬
cable that President
gaining ground daily as a result of the atti¬
respondents at Mexico City
Huerta is
of the United States.
tude
who heretofore have been
clared to be
men
are
de¬
aggressive action of the United
the
according to. these
It is impossible,
States.
Many prominent
unfriendly to him
giving him their support in view of what
considered
is
corre¬
spondents, to make the Mexicans believe that the
United States has
no
ulterior motive.
announced that it
The Mexican Government has
arrange¬
Washington's authority that
-
619
CHRONICLE
THE
1913.]
will shortly
receive 10,000,000
the loan to be
pesos
from local banks,
One of the
guaranteed by bonds.
of the Banco Nacionale de Mexico in an
directors
•
,
jure,
'
y :
'
'i
*
■'
of the present
nition
as
government of Mexico as de
well as de facto, is, it is stated, based
upon
the
explained that the Minister of Finance
interview
summoned the directors, of
a
number of banks to
secret
meeting
ment
of the
following banks responded:
by Mexico in the second note of Senor Gamboa
suggestion that there should be
"exchange"
an
countries.
of
de
ambassadors between the two
Mr. Lind of the
to
Commercio
There is
present prospect that Mr.
no
Lind will return to the United
which he will go
on
States, but the date
back to the City of Mexico to
Mexico,
and
Londres
Banco
of
the
bankers
y
Banco Nacionale
Banco
Mexico,
Industria, Banco Internacionale
e
de Paris
Bancaria
Compania
tecario,
Bank
on
e
de
Hipo-
Mexico,
y
Canadian Bank of Commerce
Montreal,
Sudamerikanischer
Deutsche
a
The representatives
August 29.
Administration's official construction.of the abandon¬
The
Bank.
favorably impressed, it is stated by
direct negotiations
with the Mexican Govern¬
yet, indefinite,
It is, nevertheless, semi¬
cable, with the statement of the Minister of the se¬
officially intimated that far from regarding Mr. Lind's
curity which the Government would give the banks
resume
ment
is,
mission
as
having been
as
a
failure, President Wilson
and his advisers contend that Mr. Lind has
As for the other half, by
the battle.-
the effort to bring
about
an
won
half
which is meant
agreement for the cessa¬
to
cover
ness
were
They expressed their willing¬
the bonds.
to conform at once to
his suggestions but
for time in which to consult their main
Another
meeting will be held in
asked
institutions.
Dr.
few days.
a
tion. of hostilities in Mexico, to have "security given
Urrutia, Minister of the Interior in Huerta's Cabinet,
for
resigned
an
early and free election in which all will agree
to take
part", and to obtain the promise of all parties
to abide
in
supporting the new president, whoever he may be,
the
of
by the result of the election and co-operate
Washington'. .Government
to be hopeful
Unofficial reports have been current
victory.
that Mr.
seems
Lind, accompanied by Rear Admiral Flet¬
cher, commanding the. American war ships at Vera
Cruz, had taken
trip to
a
a sugar
to the south of Vera Cruz in
or
bandits
impunity.
invitation
,
have
trip
plantation 60 miles
district where rebels
operating
of
R.
M.
now
Emery,
on
old friend of Mr.
managing the plantation. Whether
was a part
of
President's special
a
movement on the part of the
representative to get into com¬
munication with the
revolutionary forces in
to
that the results of
secure
assurances
free election would be
an
an
effort
honest and
recognized by the revolution¬
ists, is not known at this writing.
There
response
near-b^"
has
It
Cabinet.
men
apparently been comparatively slight
districts to President Wilson's warning that
they should depart for Vera Cruz.
Advices from
Vera Cruz state that there has been much confusion'
The incident marks friction in the
was
Urrutia who made to newspaper¬
week the
last
statements
that led the
corre¬
spondents to telegraph abroad that Huerta had de¬
manded
of
in
with
touch
within
recognition
Presi¬
adviser, who has been investigating
where he
Mexico,
John
was
in constant
Lind, arrived in Washington on
There has been
furnished the press
formal statement
no
regarding the character of Drf
It is understood, however, that they
Hale's reports.
recommend
that
should
a
play
States
Dr. Wil iam Bayard Hale, the
dent's unofficial
conditions
United
the
twelve hours.
States
United
the
waiting
game
Government
It is
in Mexico.
re¬
ported that Dr. Hale told President Wilson that de¬
spite
the flamboyant tone of
Minister Gamboa's
communications to this Government, Huerta,
"saved his face," is now
means
by Americans residing in Mexico City and
Tuesday, but later in the day withdrew
on
resignation.
with* comparative Wednesday.
The trip, it is reported, was taken on
Lind's, who is
this
been
a
his
of capitulating to
Administration.
cable
from
positively be
at the
Paris
a
casting about for
a
having
graceful
the demands of the Wilson
General Felix Diaz is reported by
to
have announced that
he will
candidate for the Presidency of Mexico
forthcoming election.
.
,
610
A
CHRONICLE
THE
dispatch from Shanghai states that the
press
whole of
Nanking is
troops.
The
message
from Wu-Hu reports that the revolt there
has
now
rebels
in the possession of the loyal
have
vacated
A
Hill.
Lyon
collapsed,, the rebels having accepted $30,000
offered
by the merchants to lay down
Ghinese
Government
Yang-tse Valley.
is
ndw
throughout
supreme
Rear Admiral
The
arms.
Nicholson,
com¬
manding the American warships in the Far East,
in
reporting the fall of Nanking to Washington, de¬
clares
that
the
event
practically
ends the revolt
recently started by Dr. Sun Yat-Sen and other South¬
leaders, most of whom have fled from China.
ern
A
dispatch by
President
decree
of St. Petersburg announces that
way
Yuan
Shih-Kai
a
shall have been restored.
peace
dispatch dealing with the effect of the Ghinese
rebellion
Japanese interests, the correspondent
on
of the "London
Daily Telegraph" at Tokyo makes
the revelation that President Yuan Shih-Kai
tately
massed
the
Northern
troops
May by Southern agents.
adds
that
of
collapse for
days.
many
was
and
betterment.
Lord
"Higher Nationalities;
He
a
state
Chinese Government
na¬
Haldane's
peace
subject
was
Study in Law and Ethics.".
a
began by emphasizing the fact that the United
States, Canada and Great Britain together form a
unique group because of the common inheritance of
traditions, surroundings
the
region
and ideals,
of jurisprudence.
particularly in
The
English visitor
urged lawyers to assist in the freshening of the
ventional
life
atmosphere which surrounds
by omitting
ful and- resolute
chance
the
American 1
thought
from
of
kind
that
King
fashioning of
of
public
a more
opinion.
Association
induced
George V.
obtain
to
visit
was
at
Montreal
at
him
to
hope¬
It
laying before the audience
Bar
con¬
in public
men
opportunity to think rightfully
no
and to contribute to the
this
the
this
permission
meeting.
Lord Haldane referred at length to the difference
the moral rules
according to Tokyo adyices, under date of
troops,
working together for the good of the world, its
poisoned
in
The ad¬
unity of
tions, particularly those of Anglo-Saxon blood; their
between formulated
The correspondent
saved Yuan Shih-Kai's life and that he
dress in brief concerned itself with the
precipi¬
only the most violent medical methods
xcvii.
French, German, Russian and Chinese."
Yang-tse-
on
River and prepared for war because he was
last
a
announcing his intention of resigning office
immediately after
In
Wednesday issued
on
[Vol.
the
law, whether civil
criminal;
or
enjoined by private conscience and
spirit of the community for which the English
have
no
but which the Germans call "Sitt-
name,
lichkeit", and which he defined
habitual
the system of
as
customary conduct; ethical rather than
or
legal, which embraces all those obligations of the
Sept. 4, while proceeding against the Southern rebels
citizen which it is "bad form"
attacked
disregard, the social penalty for which is being "cut,"
the
Japanese in Nanking.
.Government
Peking.-_
has
—._
lodged
emphatic
an
-\■ A-
•—'
T,
The Japanese
protest
at
or
looked
askance.
on
and said that it
Notwithstanding the threats'by the Powers ,Turkey
has continued to hold
tional
Adrianople and has ihade addi¬
important advances into Thrace.
ish commander is
strengthening his position west of
the River Maritza and has
tiations
have
been
Michael
Chief of the
occupied Zanthi.
opened
garia and Turkey for
General
The Turk¬
a
Bulgarian
tion of
society.
Commander-in-
and M. Tocheff, former
were on
Tuesday
ap¬
reached, and of which,
plicitly conscious.
Enlarging
themselves
access
to
the
to
'/obtaining assured
com-
Aegean littoral, which is
dangered by the Turkish
re-occupation of
en¬
Thrace.
Haldane, Lord High Chancellor of Great
,Britain, who arrived in this country
-steamer Lusitania
on
the
same
-on
steamer
on
the Cunard
Friday of last week J returned
on
Wednesday morning, after
therefore,
we
have
citizens
on
development of
within
recent
nations,
as
well
as
development
of nations with
mere
a
been
some
was mote
aggregate of nations.
events in
of
Europe and the
Europe/
in which the
;Chancellor is declared by Mr. Francis Rawle, chair¬
man
-upon
of the committee that received the Chancellor
his arrival in New York,
an
ment to the world of the declared
Government.
the
According
distinguished
British
official
announce¬
policy of the British
to the
jurist
which
statement
authorized
Mr.
Haldane
Drawing
his
address
existed between the
Canada
and
Britain,
people of these countries have
Anglo-Saxon
British
Government, announced through
to the world.
I get
my
address
It will be published in London before
home; and it will be published immediately in
system
close,
a
Lord
which has
peace
during which
to
come
a
the
greater
possession of common ends and ideals natural to the
the occasion has seemed to
policy of the
group
United States and the people
Great
intended to be
It is the declared
to
pointed to the century of
Rawle to make, the announcement "is official and is
so.
the
community,
deserving of close study by both statesmen and
students.
of
preserve
one
as
The address of the
hopeful
He said that
way
if forming
as
or
special relation than
great Powers had worked together to
peace
conscious.
within nations.
poihtefl to the ethical possibilities of the
Monday.
ex¬
full international "Sittlichkeit"
a
He recognized that its
case
before
ever
-Bar
on
not
this idea, Lord Haldane advocated the
♦visiting Montreal, where he addressed the American
Association
of culture
are
Lord Haldane pointed out that
ethical habit among
in the
Viscount
those
history abounds with illustrations of
th^ general will rising to heights of which few in¬
dividual
It is reported that the Bulgarian delegates
devote
as
in time of crisis
Turkey.
.mercial
the chief founda¬
was
He described "Sittlichkeit"
of habit and second nature at the stage
Bulgarian Foreign Minister, in the negotiations with
.will
obligation
and that this
ease,
relations to each other and which have become matter
Bulgarian Minister at Belgrade,
.
liberty and
of
sense
principles of conduct which regulate people in their
pointed delegates to assist M. Natchoviteh, former
,
of
source
Nego¬
former
army,
the
instinctive
of what to
sense
daily life and behavior that
directly between Bul¬
settlement of their differences.
Savoff,
do and what not to do in
was
tolerable social life,
no
this instinctive
was
thing" to
He pointed out that without
such restraint there could be
-
"not the
or
beyond
even
group.
In conclusion he said:
me
its splendid hospitality.
terpreted it, and I think not wrongly,
of
a
desire that extends
"But
significant of something
as
I have in¬
the symbol
beyond the limits of this
Sept. 6
621
CHRONICLE
THE
1913.]
;S
and it is
the desire that we should
steadily direct our thoughts to how we can draw into
closest harmony the nations of a race in which all of
us have a common pride.
Ifthatbe now a far spread
I
assemblage.
mean
inclination, then, indeed, may
level of securities on the
the people of three
built/ and to
laid.'"
general improvement is reported in financial circles,
but advantage is being taken of current conditions
to strengthen bank reserves in anticipation of the
shalt be
the temple 'Thy foundations shall quarterly payments due at the end of this month.
;
■
V// Money in Berlin closed at 4%, against 3@3^4% on
;
week.
Friday of last
The
Bank of Germany
There
some
was
bankers
on
Imperial
and the
France
been
reported reductions in their gold
loans and discounts.
disposition among international
3
in
this side to look for
a
reduction
on
Thurs¬
French official discount
but expectations in this respect were not re¬
day in both the English and
Advices cabled from London report a
alized.
ual
grad¬
securities that had temporarily
left with underwriters, but there is slight en¬
absorption of
been
out
new
tinue the
a
11-16@3^%).
(against . 3
unchanged at 3%%, though some
business in paper
quoted at- the close (against
was
5
of exceptional character has been
and in Berlin 5@534%
side at 3^4%,
done from this
Vienna
In
the
closing
in
Brussels
11-16%),
circumstances to put.
been buying gold 4M%).
the determi¬
leading financial interests in Berlin to con¬
policy of gradually strengthening the finan¬
3Y%%,
The private bank rate
week ago) and long bills finished at
in Paris remains
Germany has
issues.
quite freely in London in pursuance of
nation of
9-16%
tres
are:
Vienna
The
accep¬
(against 334®
closed at 334%
and in Amsterdam the
under present
couragement
London
in
the Conti¬
Sixty-day bankers'
maintained.
well
on
Private bank rates have
without change.
nent are
tances
expansions
and
supplies
of
Bank
the
both
London and
Official bank rates in
'
The Bank of England
again presented an exceptionally strong statement,
rates,
•
foreign financial markets this week have been
without sensational feature.
but
In Berlin a
Paris markets.
countries say to Jerusalem 'Thou
great
be
predicted that with the return of the holidaysustained revival in the price
makers there will be a
rate
it
5%
was
a
week ago).
5%%. (against
remains
at
4 7-16%
final rate is. 434% (against
Official rates at the leading foreign cen¬
London 434%,/* Paris 4%, Berlin 6%,
6%, Brussels 5% and Amsterdam
5%.
-4
its weekly:
Thursday, has further added to the
Bank of England,
according
to
Germany also statement on
strength of its general position.
It reported an in¬
has been borrowing quite freely in Paris, which is
crease of £89,572 in its total gold .coin and bullion ,
indicated by a sharp rise in German exchange in
the French .market.
A line .of bills of the City of holdings, which now amount to £43,250,152, and still
stand at the highest level for the corresponding week
Budapest, Hungary, amounting to £600,000, has
cial
position of the German centre.
payable in nine months..
originally taken at a discount of
placed in London
been
bills
These
were
6%%,.which, according to cable dispatches from the
British centre, is not condidered high there, in view
of the large
impending borrowing by States in South¬
Europe.
eastern
2® 234%;
bills
The
discounted at 634%.
which
have
since been re-
Money in London closed at
compares
2'J4@234%
with
a
"No advance is expected in these rates
until the end of the month at least, when the usual
week
ago.
autumn
demand will become more
insistent.
Brit¬
of any year
since the abnormal one of 1896, when the
corresponding week was
Bank's bullion item for the
during the
bringing the
amount down to £32,232,000. But, as was the case
last week, we have again to go back to 1896 to find
a
corresponding total.
In that year the reserve
stood at £33*,321,678.
Last year the bullion hold¬
ings amountedtq £42,192,129 and ini911 to £41,469,069, while the reserve a year ago was £31,367,819 and
in the year preceding £30,150,599.
Loans ("other
securities") decreased £40,000 during the week and
now
aggregate £27,632,000, against £36,518,725 a.
year ago.
The strength of the Bank's position is
best
attested, however,, by the increase of its.
£44,044,283.
week of
-
There
was
decrease
a
£129,000 in the total reserve,
exceptionally
good.
The London "Economist's" index number of
the end of August commodity prices is 2693, which
compares with 2689, the end of July figure.
Brit¬
proportion of reserve to liabilities, which is now
ish Consols as reported by cable yesterday closed at
59.59% and compares with 59.46% last week and
73 7-16, comparing with 74 J4 on Friday of last week.
Balkan securities continue irregular.
The news that 49.80% a year ago. .The Bank's note circulation
increased £2.14,000 during the week, public deposits
Bulgaria and Turkey had opened negotiations fqr a
decreased £466,000 and ordinary deposits increased
settlement of their own dispute was responsible for
£150,000..' Of the £900,000 South African gold
the advance of 1 point to 88 in the closing price of
offered in the open London market' on' Monday,
Turkish 4s.
Bulgarian 6s finished at a decline of,
M point to 100, following a similar decline last week. £200,000 was obtained for Germany and £200,000
ish
trade, and
Greek
employment continue
Monopoly 4s
are
the close
2J4 higher at 8134-
1 point higher at
at 56 and Servian Unified 4s are
Meanwhile
Russian 4s
have
9134 and German Imperial 3s
advanced J4 point to
are
also
point higher
destination of the remainder was
India.
not
reported, but it probably went into
the Mint
the
the Bank at
correspondent furnishes
details by cable of the gold movement
price.
following
Our special
into and out of the
at 74.
In Paris
The
for
French
Rentes
closed at 89.90 francs,
ports,
£679,000
Bank for the Bank Week:
Im¬
(of which £100,000 from Argen¬
the tina, £360,000 from Brazil, £5,000 from Colombia
and £214,000 bought in the open market); exports,
strength in these securities reflecting, according to
cabled advices, the improvement in the general £550,000 (of which £4CJ0,000 to Egypt and £150,000
to Turkey), and shipments of £39,000 net to the
political situation.
Money at the French centre is
comparing
with
in abundant
investment
88.2234
supply.
francs
a
week
ago,
A substantial improvement in
buying is reported on the Paris Bourse
interior of Great Britain.
•
623
The
THE
weekly return of the Bank of France
favorable
as
registered
holdings,
francs
francs
and
in
decrease
a
deposits,
treasury
a
deposits
francs
It
in
the
of
116,350,000
decrease of 70,200,000
and
expansion of
an
Bank's .advances.
The
stands at 3,441,780,000 francs, which
now
official statement
an
xcvii.
published by Messrs. Kuhn,
Loeb & Co., the Union Pacific's
bankers, stated that
subscriptions had exceeded 92% of the total
offering.
Full details giving the exact figures have
the
not
yet been completed, but there is excellent basis
for
the
statement
holders did not
making only
an
that
as
the
initial payment of $25
but instead paid in full.
of
Union Pacific's
rule exercise their
a
Thus
<
a
certificate,
per
large amount
very
has temporarily been locked
money
This
up.
1909, when 3,689,325,000 francs
loan market in the
at
639,374,000 francs and
with 779,125,000 francs
compare
843,425,000 francs in 1911.
were
excess
and
year
and
and in 1911 3,152,-
It aggregates 5,518,529,000
with 5,247,395,365 francs in
compares
5,121,689,175 francs in 1911.
likewise
ago
Circulation still continues well in
of earlier years.
and
one
In 1912 the gold hold^
3,273,825,000 francs
850,000 francs.
francs
the total.
was
holdings, which increased 6,301,000 francs
during The week, stand
1912
stock¬
privilege of
however, will undoubtedly become available
The silver
are
not
[Vol.
highest amount held for the corresponding week
since
ings
was
Street.
165,175,000 francs in bills dis¬
was
in general
gold item
is the
of
There
17,200,000
Threadneedle
increase of 248,225,000 francs in note
an
counted.
of
decrease of 6,002,000 francs in the gold
a
circulation
that
as
CHRONICLE
much
ahead
of
recent
Discounts
ers
future.
near
of the Union Pacific
are
in the
Foreign sharehold¬
understood to have been
equally liberal with those at home, so that a consid¬
erable amount has thus been
placed to the credit of
the Union Pacific
in
abroad^ which will become
the
sterling exchanges in the
the bank statement
factor
a
future.
near
the loss of specie was
In
$14,282,-
000.
Therg were no large exportations of gold last
week, with the exception of $1,500,000 for
Canada,:
and it is considered probable in
banking circles that
corresponding week.
They aggregate, according to
the decline in the specie item will be found to
have
been largely technical.
That is to
this week's
statement,
1^643,773,000 francs, and
ing-House institutions which
with
pare
years
for the
1,071,531,264 francs in 1912 and with
1,003,939,767 francs in the
year
say,
com¬
terest for
corporations mail checks
month to
preceding.
large holders of securities.
checks
The
weekly statement of the Imperial Bank of
they
mailed, they
are
become
obligations
Germany, published
But the actual funds
of
actions.
on Tuesday, showed a decrease
32,219,000 marks in gold and of 79,683,000 marks
in its total
crease
cash, including gold.
There
in¬
was an
of
161,254,000 marks in note circulation, of
23,336,000 marks in loans and of 88,030,000 marks in
discounts.
Deposits
The total cash
were
holdings
reduced 91,691,000 marks.
1,370,057,000 marks,
are
against 1,239,940,000 marks in 1912 and
000 marks in 1911.
have
we
a
1912
and
1911.
1,169,900,-
1,639,640,000 marks in 1911.
situation this week.
The rate for call loans
Thursday touched 4%% and time
tions have been marked up
was
money quota¬
fractionally.;
influenced chiefly by
an
This sud-
exception¬
ally unfavorable statement of the condition
of New
York banks and trust
companies published by the
the
Saturday.
on
This statement showed
large loss of $13,763,000 in cash.
As
reserve
requirements had been increased $3,321,050,
as a re¬
sult of
cash
an
expansion of $20,403,000 in deposits, the
surplus above requirements
was
reduced $17,-
084,050, leaving the total surplus cash only $5,089,100, which, however, compares with $4,553,150 a
year
ago.
Loans
$30,008,000.
bank
officers.
were
shown
The statement
The
was
to
a
increase in the
have
increased
surprise
even
loan item
to
was
undoubtedly due to preparations for the September
payments, including dividends and
coupons, and
also to engagements for
financing the subscriptions
$88,357,600 in Southern Pacific certificates
by Union Pacific stockholders. These certificates
to
the
were
offered at 92,
of time the checks
The movement of
currency
institutions,
as
including 3% back dividends, and,
are
re¬
is against New York,
is usual at this
are-withdrawing their balances from
season,
this
centre.
Thus
far, the deposits of funds that the Treasury
Department proposes to make in the national banks
by banks in the West and South have
in
flurry has been the feature of the local
Clearing House
seldom shifted in such trans¬
funds
1,050,080,000 marks
as
hand.
on
state
with
these
deposit.
since interior
of the
agricultural sections do
exceeded
that
the
not
$10,000,000.
check upon
and there
the
to have
The
en¬
Washington ad¬
public
not
offerings' of
yet*
money
centre has acted as
a
the views of other lenders.
money
2@43^%.
seem
applications for these
by international houses at this
Call
4eti change
funds
vices
The
money
against
1,204,720,000 marks at this date in
000 marks in 1912 and
on
soon as
actively into the situation.
compares
A moderate
As
charged against cash
tered
outstanding note circulation aggregates
1,915,580,000 marks and compares with 1,752,700,-
.
are
course
at the end of the
Combining loans and discounts,
1,056,852,000 marks, which is a
total of
decrease from
as
In the
turned for
are
Clear-
some
dividends and in¬
pay
has this week
covered
Monday, Labor Day,
were
a
was
range
a
of
holiday
no
quotations; on Tuesday 3% was
highest and 2%% the lowest and ruling rate; on
Wednesday 3% continued the highest, while 2%%
the lowest and 2%% the renewal
figure; Thurs¬
was
day's maximum
basis, 2%%;
on
was
4J^%, minimum and renewal
Friday the highest
2%, and ruling, 3%.
Time
money
was
3%, lowest,
closed at 4@4
for
sixty days (against 3^@3%% last week),.4j^@
4M% for ninety days (against 4M@4^%), 4%@5%
for four months (against
4%%) and 5% for fivd and
six
months
been
(unchanged).
Commercial
quiet, neither1 buyers
than
ordinary activity,
nor
and
has
paper
sellers showing
quotations
more
closed
at
5%@6% for sixty and ninety days endorsed bills
receivable
choice
and four to
character;
6m%.
The
six
others
months'
are
single
still quoted
names
at
of
63
IV.';;;VV/V.I:-VV-:.:.r'
sterling exchange situation has been
one
irregularity,
with the general tendency towards
lower level.
Demand bills again touched
record for the current movement
on
a new
of
a
low
Friday, when
Sept. 6
CHRONICLE
THE
1913.]
623
they sold at 4 8555, which compares with 4 8585, the
ments for
minimum
seven-day grain bills at 4 84%.
figure of last week.
There has been quite
closed
selling of exchange in this market against the
active
4
subscriptions of foreign holders of Union Pacific to
These
filed in London not.later than
official
no
certificates.
Pacific
Southern
were
has been
the
that
The
in the
the
the
caused
and
forward
grain
upward
some
In fact
rates.
has had
accounts,
offering,, of
wheat is
some
at all had the ocean
freight
room
not been
demand
which
for
$735,000,
Into
Total
preparation for the quarterly settlements at the end
in
Berlin
$7,787,000 Gain
22,215,000 Loss
$29,267,000
30,002,000
payment of these notes was arranged through
the securities
this
on
almost exclusively
are
Sept.
4
1913.
Gold.
£
England.
_
Germany
Russia
a
43,250,152
137,671,280
56,073,350
_
France._
.
_
161,807,000
_
Heidelbach, Ickelheimer & Co.
Netherl'ds
$500,000; gold from the
same
Argentine,
engagement that has already been
The Continental
Nat.Belgd
Sweden
Switzerl 'd
8,027,000
Norway.
2,446,000
550,606,449
Prev. week 552,663,947
exchanges have continued irregu¬
The
a
lar and have reflected the demand for funds
last
cable
by
which is
In-
by Ger¬
The London check rate in Paris closed,
many.
evening,
25.25
at
as
francs,
advance of 1% centimes for the week.
an
Berlin, however, the London demand rate has
declined
1% pfennigs to 20.42 marks, while Berlin
exchange
123.61
from
Paris,
on
as
reported by cable, closed at
francs, which is
an
.
Tot. week.
referred to in the "Chronicle."
reported
50,610,000
18,545,000
45,958,000
12,361,000
8,154,667
5,703,000
Spain
Italy d___
received
have
This is the
that
£
was
day
grain bills caused
4 8560
further decline
4
8565@4 8575,
sixty
Mon¬
on
Tuesday to
for.demand; later covering of shorts induced a
partial rally, with the final
days
cable
range as
transfers
4 8250@4 8260.
downward trend
was
still
total of gold in the Bank
considering
by
was
the Gulden
weekly returns,' merely reporting the total
division we make is a close approximation..
in
follows: demand
4 86@4 8610,
and
Wednesday
the
On
evidence, cable regis¬
part' in the late transactions
unchanged at 4 86@4 8610 for cable
view
In
pressing
readers
trade
upon
advance of 5
On Thursday smaller supplies
a
firmer tone, with
points in demand to 4 8570@4 8580,
and 4
8605@4 8610 for cable transfers, although sixty
days
was
light.
with
4
weaker at 4 8235@4 8250;
trading
was
On Friday the market ruled dull and weak,
quotations 5@15 points lower; closing rates were
8555@4 8565 for demand, 4 8590@4 86 for cable
transfers
mercial
and 4
on
8230@4 8245 for si&ty days.
banks
closed
believe the
at-4
Com¬
80J^@4 82%, docu¬
may
seem
currency,
arid
the
and
and economic
strikes
tax,
and
our
sooner
we
are a
they
are
ours
are
other large
to us from the outside world,
come
because they
are
the world's.
English diplomatic writer, J. Ellis Barker,
recently
pointed
miles of land
controlled
or
owned
that
out
on
of the
white
by
the solid
people thus
surface
million
of
50,250,000
the earth 48,500,000
men,
1,750,000 belong to China and Japan.
million white
500
we
and buoyant and resourceful people, but it is
they
square
us,
Sooner
rather than later,
through them all, for
way
end,
without
coming, give
well to remind ourselves that there
has
strangely
quite enough to think about.
later, and, doubtless,
The
are
The tariff, the
importance.
income
our
printed lately
we
investigations, present
apparently,
or
of-small
to
have
political
articles
the
it
home,
at
s.
and troublesome problems
many
us
UNIFYING
CANAL AS A
openings
remote .and
and
an
but we
.
changes in distant parts of the world
4 8260 for
brought about
the
that
problems;
sixty days.
of
upon
transfers, 4 8565@4 8575 for demand and 4 8250@
of commercial bills
gold and silver;
FORCE,
young
was
As the
the value of 80 cents.
to have
by dividing the amount of Kronen by 24 instead of 20.
d The division (between gold and silver) given in our table of coin and bullion in
the Banks of Italy and Belguim is made from the best estimates we are able to
obtain; it is not claimed to be accurate,, as the banks make no distinction in the
this
recovered in
of Russia: includes the balance held abroad—
The
has really no greater value than 20 cents, our cable correspondent in
London, in order to reduce Kronen to Pounds, has altered the basis of conversion
tering 4 8595-^-a. low record for the present movement;
was
.
Kronen
shall find
and the close
828,900
3,803,333
63,332,000
47,260,000
45,980,000
12,738,900
11,410,000
5,374,000
7,136,000
2,253,000
the amount held for Russian account in other Continental banks.
is,
Pounds
weaker and declined to
Heavy offerings of cotton and
a
3,580,000
96,062,033 646,668,482 520,540,426 105,625,593:626,166,019
96,334,393,648,998,340 523,197,275 106,978,070630,175,345
THE PANAMA
8255@4 8265 for. sixty days.
holiday.
was a
8,039,000163,975,000
11,604,000
30,171,000
advance of 18 centimes
8575@4 8585 for demand, 4 8610@4 8620 for cable
transfers and 4
Total.
42,192,129
31,165,360 162,518,040
16,434,0001 61,996,950
43,250,152 42,192,129
25,574,800 163,246,080 131,352,680
14,000,000 70,073,350 45,562,950
7,720,000169,527,000 155,936,000
10,729,000 (71,339,000 51,728,000
29,976,000 48,521,000 17,089,000
3,250,000 49,208,000 42,400,000
734,900 13,095,900 11,910,000
4,077,333 12,232,000
7,606,667
5,703,000
5,374,000
8,027,000 | 7,136,000
2,446,000
2,253,000
Compared with Friday of last week, sterling ex¬
4
Silver.
proportion so held, and consequently duplicated in the above statement, is about
one-ninth of the total this year, against about one-sixth a year ago.
b The Austro-Hungarian Bank statement is now issued in Kronen and Heller
instead of Gulden and Kreutzer.
The reduction of the former currency to sterling
Friday of last week.
change oil Saturday
$735,000
Sept. 5 1912.
Total.
Silver.
Gold.
side, the amount necessarily figured in the
sterling exchanges.
Loss
Banks of
Aus. Hunb
held
$2,887,000
3,622,000
•
principal European banks.
Monetary Commission two-year 4%% gold notes.
as
Net Change in
following table indicates the amount of bullion
Speyer & Co. have this week paid
principal and interest of the $10,000,000 Mexican
London and
loss
a
Bank Holdings.
.
310,674,000
18,593,000
—
The
As
Oat of
Banks.
endinolSept. 5.
interior movement..;
in the
the
have been
follows:
as
I Bub-Treasury operations
in
of this month.
into and out of the New
suggestive
is
funds
operations,
loss of $3,622,000, the combined
Banks.
Week
¥
953/8 less 1-32,
increased
the
of
Banks'
to
a
York banks for the week appears to
definitely!1 1
E
advanced
Sub-Treasury
the
Adding
result of the flow of money
gone
Reichsmarks have ruled strong, having
from the interior have aggregated
receipts
787,000.
going
consignment that would not have
on
result of the
as a
movements for the week ending Sept. 5.
which occasioned
in
reaction
banking institutions,
$10,674,000, while the shipments have reached $7,-
bills
engaged.
of
Their
as
effect in
cotton
mid-week
learn that
we
some
and
Clearing-House banks, in their./
gained $2,887,000 net in cash
currency
sharp advances that have taken place
crop
poorer
York
New
f
have
price levels of grain and cotton, resulting from
restricting
4 82@
^
The
liberal, in
as
proportion to the number of stockholders, abroad
at home.
grain for payment
operations with the interior
to believe
reason
equally
were
81%@4 82;
subscriptions
statement of the exact amount subscribed
subscriptions
4
at
and
Cotton for payment
82%.
Sept. 2, and while
reported, there is excellent
payment finished at 4 81%@4 82%
own
while
are
only
Sixhundred
and control 29-30ths of
the earth, leaving l-30th to the
Chinese
and
Japanese.
Anglo-Saxons, numbering 150,000,000,
Again,
the
own or con-
624
trol
fulljthird of the earth's surface, while 450,-
a
of
000,000
of the
the
crowded
are
Continental
into
and underlying that is
great questions,
question of markets, for it carries wrapped up in
it the
question of life—economic and commercial as
well
•
whites
The question of elbow-room is obviously
Europe.
one
CHRONICLE
TIIE
actual.
as
Unless,
markets
therefore,
are
sought betimes and the conditions of holding them
satisfactorily met, they
them
Girdling
possibilities
tree
a
no
shutting out
more
certainly kills it than does
markets of the world.
open
nations
stand
cannot
existence.
national
of
nation from unhindered
a
It is
to the
access
opinion that
an
they must either grow
still;
We desire
connection
would
to call attention to another fact in
now
this
with
Sir
repeat
of
question
Raleigh's
Walter
trade
of
the
commands
sea
whosoever commands the
world;
world
the
historic
great
saying, "Whosoever commands the
the trade of
commands
of
riches
the
world, and, consequently, the world itself."
are
why
many reasons
do not
we
care
the
world,
we
cannot endure to have any one
if
even
we
could.
national
it
as
may,
else command it,
feeling, of
jealousy
prejudice, but simply for the
could not endure
to shut
us
out of the markets of
world,
power
any
Whatever may come to be the situation when the
reign of
is established, the only guaranty of
peace
position to-day is
our
efficient
an
powerful enough to dispose of
not
readily within
A
navy.
possible
any
enemy
is
is to: maintain conditions in which such navy as
us
we
have will
may
.where
the
always adequate.
Canal
Panama
conditions upon
which the experts
depends,
navy
namely its
must be able to act
always
as a
The great
nations
are
acting
Here is
demonstrated
defense is
only drilling their vessels
power.
It
To be effec¬
at his
enemy
weight.
They
squadrons and
as
the Pacific Coast.
possession of
a
a
nation
are
easily
proposed scheme
bonds that
oneness
of their in¬
that
a
of
many
to the
essential
the
speech, the
common
territory,
a common
common
continuance
the
eyes
recognizing
are
characteristics of
and
of
sense
The
patriotism.
nation and the real
a
traditions
common
religion, and that in the arising and
of
such
lies
states
welfare'of
the
the
The emphasis coming to be laid upon the
world.
community of interest growing out of the recognition
of the need of
the
defense cannot,fail to further
a common
of human brotherhood and to
cause
help
remove
the strain of rival interests and racial antagonisms.
If it is true within national bounds that when
suffers all
suffer, and when
attacked because of this
difficult to
see
why the
The
each.
one
is threatened all
one
are
community of life, then it is
same
world's peace
because it is
does not extend to
men
So far,
will
they
recognizing the unity of their national life
and
The Amferican
will be kept efficient and it will be drilled in
There will be
modern lines.
and
up,
question
no
sels will
cease
whatever.
and
of all
care
naval protection is concerned the Canal
as
quiet the mind of the Coast,
navy
its
folly of
an
becomes the
obviously to the interest of all.
so
the value of
these lines.
on
futility
Men
terests.
of
and
opening men's
say
massing the squadrons in. definite waters but
are
unity
particular section.
tive it must be prepared to meet the
not
national
of
vqssels to be built
unit.
particular defense.
on
already hot—is going to be of great service in
to meet the
striking
their
wholly
widening men's minds and in strengthening the
the "situation
first advance and to strike with its undivided
are
and it is
us
changes
It makes it possible for
entirely.
a
prove
for
The discussion which this demand has aroused—,
navy
The problem before
reach.
our
and
Canada would have hers
generally, and why all should not combine to protect
important part of them.
or any
at least, a battle-ship or two for
waters
own
Its immediate
question in hand is the demand for
local navy, or,
their
imperialism from the stand¬
growing individualism.
a
relation to the
or
we
having
one
There
already given, that
reason
the
or race
the
to command
But, be that
and that not because of any
any
We
markets.
New Zealand, Australia, and
bounds of British
the
point of
a
xcvii.
Canada and South Africa, are arguing within
exist within
decay.
or
spirit is contagious.
now
beyond reach, and with
pass
the
go
[Vol.
no
equipped
or
Both
to be local
to divide it
reason
to< the iproper number of.
as
navy
maintained in
any
yards and naval
ves¬
or
prerequisites for
The navy will
be
any reason
unit and its parts
a
equipment will belong, to the whole.
The
maintaining army posts where there was once
Indian
and
country
no
railroads
is
more
no
apparent to the whole country, though sectional in¬
terests will
serve
to make
Congress slow to-recognize
it, than that of maintaining
or
measuring the safety of
yards,
unnecessary navy
any part
directing their whole strength to the prompt protec¬
by the number of war-ships that
tion of any part
of
our
territory,
harbors.
small
war,
of the nation's territory, however
The
remote.
or
has passed.
Drake's plundering
„
over
the world,
in the Orient
crew
Perry's; little fleet in Japanese waters,
or
But far
day of individual vessels of
however imposing, scattered all
or
the
more
are
anchored in its
important than this is the inevitable
awakening to the folly of the perpetuation of
of State
rights
as
is continually cropping
disturbance of the nation's peace.
so
to the
up
California'hap¬
Alabama in mid-Atlantic, would be as little significant
pens to
to-day
evidence, and happily it is just there that the
as
the Hamaclieh
was
but
now
in the Eastern
Mediterranean.
Here is the
tional
of
danger of divided interests and
politics.
country
a
ment
Not only
they
every
citizen.
are
common
not
true,
claim
to
peculiar
as
perils;
in
us
from
across
the
attention to it
ocean.
.
It appears in
It
the
massing of German ships in the North Sea, in the
our
are
people
upon us as
on
if this
war;
peculiar relations and to
demand
peculiar
the
were
They
have
protection
apd tliiqk they require at times peculiar laws.
to
frequent gathering of English squadrons in the British
questions
they
For this .reason we have called
comes
argu¬
will have to be most pressed.
the
the South did before the
stand
to the navy
it is most in
now
to all sections and affect
From time to time
Pacific Coast force
sec¬
the internal interests
but the external relations
one
same;
are
as
be the region where just
much
The
Channel
and
British colonial
the
keen
Imperial Administration.
their
common
to
Iqarn, commercially
us
no
as
in
great
we
are
outside
same
general
we
but 'the
all;
the
to their duty to the
Happily,
immediate dissensions,
situation is
to
discussion
dependencies
have
our
lessons
less than nationally, and
Sept. 6
CHRONICLE
THE
1913.]
vision and large intelligence is
the demand for wide
imperative in the one relation as in the other.
In
world is to be found the pulse of the
as
the trade of the
State.
________
'
AND
EXPERIMENTS
GOVERNMENTAL
:
ESSENTIALS. '
'
'
v
A recent issue of the "North American Review"
_
•
contains
article by Senator Elihu Root
an
"ex¬
on
periments in government and the essentials of the
Constitution."
A
discussed
article
previous
the
preservation of the most essential characteristic of
threatened,
seriously
Government, now
our
have
Root,
Mr.
says
one
feature
in
common—"they all aim to preserve rights by limit¬
The first he mentions is the
preservation of the
Anglo-Saxon idea of individual liberty an idea
of
citations
His
lics.
not
conception of the Grecian and Roman repub¬
in the
habit
the
Constitutional
many
provisions for safeguarding this may at first thought
seem more academic than practical now, since there
official persons are
inferior."
insurance
life
the individual holder of
fellow holders who constitute the
pany"—and yet,
on
the
against
contracts
mass
of
his
figmentary "com¬
the other hand, there is an almost
furious
tendency to submerge individual rights and
restore
what
Mr. Root
thus:
states
"the
are appro¬
limitations
of
class
by the novel
arose
difficult imposition of a national
and very
State
of
federation
upon a
Let the former
governments.
become unduly weakened and we should ul¬
power
to be a nation "and become
cease
only a
separate though confederate State
body of really
sovereignties continually forced apart by diverse
would be, Mr. Root might have
interests"; this
added,
intolerable condition out of
return to the
a
which grew
Let the National Government
the Union.
get disproportionately
merely
but
decisions aimed to protect
kind of deference
•':
third
A
notably illustrated in the long line of statutes and
almost hysterical
a
authority which
priate only to the relations between superior and
not
an
treated with
and exercise the kind of
trend to exploit the individual,
is
of the countries of Continental Europe, where
many
timately
power".
ing
deprive the people of the country of the individual
of independence.
This may be observed in
to
"its
representative character;" the four remaining char¬
acteristics,
places and has no. authority regarding anything else,
we pay deference to the law which he represents but
the personal relation is one of equality. Give to that
officer, however, unlimited power, or power which we
do not know to be limited, and the relation at once
becomes that of an inferior to a superior.
The in¬
evitable result of such a relation, long-continued, is
powerful, and there comes,
state inconsistent with self-goverment,
a
load of work which the Central Government
a
could not
possibly perform; then, "decentralization
of government
would be made necessary by the mass
business to be transacted"
that this also would lead
separation of
our
"and
no one can
doubt
by its different route to the
Union".
The remainder of
ancient
...
.
Mr. Root's article is a solemn
republics, however, put the State first and regarded, and strong argument against the menace of a "demo¬
only as a member of the State; they cratic absolutism", particularly; expressed in the
the individual
public rights of the State in which
had in view the
rights of the members
all its members shared and the
as
parts of the whole, but
dividuals
or
against the State."
It
needless
is
illustrated
taxation
they did not think of in¬
having rights independent of the State,
as
to
'
T
Y
<
dwell upon this,
containing
and. penalizing
cumulative
a
official in
the
of transmission of estates
feature, and also by the. mouthings from an
Washington about the possibility of taking away
granted
alleged
power
In frankness,
by devise?
have
we
not now two
seemingly uncontrollable, and mutually
sweeping,
.destructive, doctrines running at large; the ancient
one that the indi vidual owes everything to the State
and the
paternalistic one that the State owes everything to
the individual and he may demand that it do every¬
and
it
may
claim everything from him,
thing for him?
Mr.
in.
•
is certainly
peril, namely the distribution of power through
the
fundamental
executive
and
judicial which
held up to view.
says
into
separation
we
legislative,
have repeatedly
"Rigid limitation of official power,"
of
maintain that equality of
Mr. Root, "is necessary to prevent deprivation
substantial
political
rights and to
condition which is
independence
of
individual
people of the country".
clause
of
directly
this
sentence
so
important
character
for the
among
the
Note particularly the last
and
then
a
few sentences
following:
:y "When an officer has authority over us only to
enforce certain specific laws at particular times and
of
ments
then
and
fundamental depart¬
quotes a sentence from
government he
Montesquieu
one
Lincoln's
from
first
inaugural, thus:
"There is
no
liberty if the power of judging be not
separate from the legislative
and executive powers;
joined with the legislative, the lifeand liberty
of the subject would be exposed to arbitrary control".
"A majority held in restraint by constitutional,
checks and limitations, and always changing easily
with deliberate changes of popular opinion and sen-:
timent, is the onlyjtrue sovereign of a free people;
whoever rejects it does of necessity fly to anarchy
or
despotism."
were
It
it
needless
is
discuss
to
the
anew
monstrosity
dubbed "recall", yet we note a remark of Mr. Root,
(almost paradoxical at first
of
the
reading) that in the
.representative government "the
effort to emasculate
people
'
e
Root's other class of limitations.
departments and the limitations laid upon each; this
is
maintenance of the three great
but is it not
by the current. advocacy of income
jiow
Upon the
dogma of recall of decisions and judges.
experimenting States have greatly
increased their reliance upon
the courts;
every new
constitution with detailed orders to the legislature is
a.
forcible assertion that the people will not trust
legislatures to
powers,
determine the extent of their
own
but will trust the courts".
This
a
might be commended to reflection in Ohio and
few
other States.
The
new
and
very
flattering
doctrine that the people are to do their own legislative,
judicial and executive business themselves instead
of
leaving this to chosen agents, has one
it
objection:
spouters,
it
attempted,
fortunate
can
can
be
declaimed
by
practical
place-seeking
flatter mass-meetings, it can be
It will be a
for this country if practical sense
but it cannot be done.
escape
soon
begins to dissuade
and
impossible experiments.
us
from undertaking damaging
'
;
Sept. 6 1913.]
CHRONICLE
THE
the demand for wide vision and large intelligence is
imperative in the
as
one
relation
as
In
in the other.
the trade of the world is to be found the pulse
of the
State.
places and has no. authority regarding anything else,
we pay deference to the law which he
represents but
the personal relation is one of equality. Give to that
officer, however, unlimited power, or power which we
do not know to be limited, and the relation at once
becomes that of
GOVERNMENTAL
•
AND
EXPERIMENTS
ESSENTIALS.
A recent issue of the "North American Review"
contains
article
an
by Senator Elihu Root
on
"ex¬
periments in government and the essentials of the
Constitution."
A
previous
discussed
article
the
preservation of the most essential characteristic of
Government,
our
threatened,
seriously
now
common—-"they all aim to
ing power".
have
Root,
Mr.
says
feature in
one
rights by limit¬
preserve
The first he mentions is the preservation of the
Anglo-Saxon idea of individual liberty
in the
lics.
conception of the Grecian and Roman repub¬
His
the'
of
citations
is
Constitutional
many
provisions for safeguarding this
seem
idea not
an
may
at first thought
academic than practical now,
more
almost
since there
third
A
and very
contracts
individual holder of
the
against
fellow holders who constitute the
pany"-—and yet,
on
of
mass
his
figmentary "com¬
the other hand, there is
an
almost
furious tendency to submerge individual rights and
Mr. Root
what
restore
republics, however
,
thus:
states
"the
the individual only as a member of the
had in view the
State; they
public rights of the State in which
all its members shared and the rights of the members
as
parts of the whole, but they did not think of in¬
dividuals
or
as
having rights independent of the State,
against the State."
It is needless
v
illustrated
taxation
to
dwell upon this,
containing
added,
cumulative .and
a
penalizing
an
official in
Washington about the possibility of taking
by devise?
sweeping,
of
power
away
of
transmission
In frankness, have we not
the
estates
now
two
and mutually
seemingly uncontrollable,
destructive/ doctrines running at large; the ancient
that the individual
one
and
it
may
paternalistic
owes
that the State
ope
may
owes
everything to
demand that it do
every¬
in
Root's other class of limitations is certainly
peril, namely the distribution of
departments and the limitations laid
is
the
fundamental
executive
and
says
power
we
through
have
legislative,
repeatedly
"Rigid limitation of official power,"
substantial rights and to maintain that equality of
political condition which is
of
individual
people of the country".
clause
of
directly
"When
this
sentence
so
important for the
character
officer has
among
the
Note particularly the last
and
then
following:
an
a
few sentences
^
would
be,
Mr.
by
apart
diverse
Root might have
Let the National Government
a
powerful, and there
comes,
state inconsistent with self-goverment,
load of work which the Central Government
a
possibly perform; then, "decentralization
business to be transacted"
"and
...
of government
no one can
doubt
that this also would lead by its different route to the
separation of
our
Union".
'
;
,
-
"The remainder of Mr. Root's article is
and strong argument
cratic
against the
absolutism",
maintenance of the three great
of
ments
government
Montesquieu
and
"demo¬
the
expressed in
Upon the
sentence from
a
from
one
a
solemn
fundamental depart¬
he quotes
then
a
of
menace
particularly
dogma of recall of decisions and judges.
Lincoln's
first
.
"There is
authority
over
us
only to
no
liberty if the
power
of judging be not.
separate from the legislative and executive powers;
it
were
of the
joined with the legislative, the life and liberty
subject would be exposed to arbitrary control".
"A
majority held in restraint by constitutional
limitations, and always changing easily
with deliberate changes of popular opinion and sen*
timent, is the onlyjtrue sovereign of a free people;
whoever rejects it does of necessity fly to anarchy
or
despotism."
■ /
checks and
.
.
It
is
needless
dubbed
,
discuss
to
"recall", yet
we
anew
note
a
the
of
the
that in the
representative government "the
have greatly
States
experimenting
increased their reliance upon
the courts;
constitution with detailed orders to the
forcible
assertion
legislatures to
powers,
monstrosity
remark of Mr. Root
(almost paradoxical at first reading)
effort to emasculate
that the
every new
legislature is
people will not trust
determine the extent
of their
own
but will trust the courts".
This
a
might be commended to reflection in Ohio and
few
other
States.
doctrine that the
The
new
and very
flattering
people are to do their own legislative,
judicial and executive business themselves instead
of
leaving this to chosen agents, has
objection:
spouters,
it
it
can
can
be
declaimed
by
escape
practical
one
place-seeking
flatter mass-meetings,
attempted, but it cannot be done.
fortunate
enforce certain specific laws at particular times and
continually forced
return to the intolerable condition out of
merely
could not
each; this
Mr. Root, "is necessary to prevent deprivation of
independence
a
should ul¬
we
would be made necessary by the mass
a
upon
into
separation
judicial which
held up to view.
a
people
thing for him?
Mr.
upon
Let the former
to be a nation "and become only a
cease
get disproportionately
everything to the State
claim everything from himr and the
the individual and he
national
a
governments.
which grew the Union.
but is it not
feature, and also by the mouthings from
alleged granted
by the novel
arose
inaugural, thus:
•
by the current advocacy of income
now
State
sovereignties
ancient
put the State first and regarded
of
interests"; this
but
insurance
limitations
difficult imposition of
body of really separate though confederate State
notably illustrated in the long line of statutes and
life
of
become unduly weakened and
power
not
decisions aimed to protect the
class
federation
hysterical trend to exploit the individual,
an
The in¬
a
inferior."
timately
.-V;
superior.
a
relation, long-continued, is
to deprive the people of the country of the individual
habit of independence.
This may be observed in
many of the countries of Continental Europe, where
official persons are treated with a kind of deference
and exercise the kind of authority which are appro¬
priate only to the relations between superior and
"its
representative character;" the four remaining char¬
acteristics,
inferior to
an
evitable result of such
It
it
can
will
for this country if practical
soon
begins to dissuade
and
impossible experiments.
us
be
be
a
sense
from undertaking damaging
,
'
1
626
COTTON MOVEMENT AND CROP OF
the year ending
while
the
Distribution of the above three
crops
1912-13.
exports
8,795,673
are
bales
5,630,311 bales, leaving
are
stock
a
on
5,630,311
5,517,830
4,584,007
10,547,181
7,626,077
148,903
132,547
8,795,673
7,758,624
143
10,696,084
5,532
-14,426,127
16,219,446
12,342,653
A
hand at the
-
close
of the
of 216,561 bales.
year
for the twelve months is
such
stock at each port
The whole movement
as
the
past
Deduct—
the peculiar features
Total
Sept. 1 1913 and 1912, the receipts at the
(1912-13) in detail, and the
year
'
are given the
takings for consumption.
consumption for two years has been
1912-13.
Bales.
Northern mills' stocks Sept. 1
;
Takings
Etports Year Ending Sept. 1
Si cks.
1913.
a
1913.
Texas
Louisiana
-
Georgia
Alabama
Florida
_.
...
Mississippi
So.
Caro__
No. Caro__
Virginia
New York.
Boston
Baltimore.
Philadelph
P'tland, De
1912.
Britain.
Conti¬
France.
4,990,912 4589,931 1790,046
1,436,959 1662,698 743,890
1,550,987 2790,428 246,277
230,699 384,239
60,464
141,604 266,125
24,144
64,802
310,403 417,182
73,367
455,559 711,075 106,043
609,977 696,987
17,021
C15.326
06,961 •354,331
o46,222 063,112 148,614
a79,878 0122,259
9,675
a8,326
o3,037
53,754
507
troit, Pt. H'on.&c
Sept. 1
1913.
1912.
Total.
nent.
"5~666
228",478
55,820
150411
152,115
55,462
230,369
10,925
159,539
~~3~ 877
70,960
84,512
62,360
136,404
262,917
59,673
500
8,606
<435,897
262,917
108,222
Seattle, Ta coma,&c.
3,079
3,101
78
4,744
7,371 11,673
18,940 116,422
2,2S1
4,132
1,000
1,805
317,831
72,983
640,520
675
875
year.
Last
year.
9,876,852
937,163 3464,473 7,758,624
6,232,729
2,720,4181
2,979,878/5,700,296
Peruvian, most of which
was
and
arrived
d Shipments by rail to Canada.
shipped from New York and almost wholly to Liverpool
foregoing shows that the total receipts at the Atlantic
year
against 11,778,836 bales last
have been 9,876,852 bales,
hnd
year
8,752,193
bales in
1910-11, and that the exports have been 8,795,673
against 10,696,084 bales last
previous
3,628,133 bales.
nessee
Great
season,
If
now
we
we
getting
out of
this crop
add the shipments from
and elsewhere direct to
consumption,
and 7,758,624 bales the
season
Britain
bales,
Ten¬
manufacturers, and Southern
have the following as the crop statement
Year ending September 1.
1912-13.
Receipts at ports
;
bales.
Shipments from Tennessee, &'c., direct
mills:
1911-12.
1910-11.
Manufactured South, not included above
9,876,852 11,778,836
8,752,193
1,272,172
.
Total
*
1,010,312
tinued with little
or no
interruption during the season just
Furthermore, there has been virtually no trouble
with labor, such little disputes as h ve occurred not
being
result of these
11.149,024 13,307,099
2,979,878 2,736,217
figures is
a
total crop of 14,128,902
AND
SOUTHERN
as
SPINNERS'
on
hand at commencement of year
At Northern
ports
At Southern
ports
At Northern interior markets
Total
supply during the
takings
year
bales. 14,128,902
-
(Sept. 1 1912)—
120,578
.161,775:— 282,353
19,583—
ending Sept. 1 1913
Of this supply there has been exported
foreign ports during the year
08,659,776
Less foreign cotton imported and Am eri"
-
ports
14,430,838
.
„
25,552
191,009—
At Southern ports
At Northern interior markets
..
1913
distributing
themselves
of work again
up
most of the
on
opera¬
help.
A supply of cotton from the
the total of 1911-12,
but with the aggregate consumption a
little above the previous record there has been a slight dram
has
been secured,
the previously existing surplus stock to meet it.
upon
less to say, a level of prices has been maintained
Need¬
insuring to
in a normal year.
Finally there has been a further ex¬
pansion in manufacturing facilities but mainly, if not wholly,as
South.
tures of the
that
2,650,433
the
total
takings
by
spinners
during 1912-13 have reached 5,630,311
bales, of which the Northern
mills
have
These, in brief,
season
below
exceed
the
raw
the
the various salient feaa-
are
of 1912-13.
As regards the size of the crop,
the yield of tile
early indications
were
that
material would fall about two million
record
total
production of all
of
the
preceding season but
previous
years.
This result
fully verified by the final figures here disclosed.
In December the Department of Agriculture
published an
has been
estimate
making the yield 13,820,000 bales of 500-lbs.
weight each (not including linters)
about 2
or
the
final ginners'
Bureau showed
a
issued
report,
bales.
amount
aggregate
we
of
the
(in
on
Census
growth of 14,076,430 bales, including lin¬
this total being increased in
actual
by
gross
million bales
less than the commercial crop of 1911-12, and later
These
cotton
present
results,
picked
a
of
as
subsequent report to
course,
refer
to
the
distinguished from the
in this report, which represents the '
reported by
as
taken
Southern mills 2,979,878 bales.
the Census Bureau,
is 38,0391 bales
commercial crop as we compile it, but 220,352
bales of the 1912 yield were marketed before August 31
1912,
and
come
counted,
were
crop; on
2,650,433
therefore,
in
the
the other hand, of the 1913
forward
to
August 31 and
1911-12
crop,
are
commercial
238,970 bales have
counted in
the
year
under review.
With
a
commercial
crop
of 14,128,902 bales and visible
stocks of 1,365,485 bales of American cotton carried
over
at
the close of
mill
hands
less than the
a Not
including Canada by rail.
5 Includes 2,977 bales of American
returned and 188,471
bales foreign, mainly Egyptian, equaling
229,940 bales of American weights,
c Burnt includes not only what has
been thus destroyed at the Northern and Southern
outports, but also all
burnt on Northern railroads and in Northern factories.
bale* and the
on
various fields of the world, second only to
cotton
South
(the Borden
tives returned to their Original place of employment,
leaving
gate,
5,630,311
2,979,878
Total taken by Northern spinners
North and
or
The closing
crop—the total marketed between September 1
1912 and August 31 1913.
It will be noted that the aggre-.
216,561
21,067— 8,800,527
—
figures show
.the
shut down of 15 weeks,
a
.
-
Taken by Southern spinners (included in above
total)
These
greater
a
commercial
„
Total takings by spinners in the United States for
year ending
Sept. 1
to
announced, being
as
But with the starting
the other mills short of
14,090,803
301,936
can cotton returned-^
___:__bales_
232,917—8,426,859
Sent to Canada direct from West
'•
135,897
Burnt North and South.c
143
Stock on hand end of year (Sept. 1 1913)—
At Northern
operations
glut of print cloths, inured to the benefit of the
a
August 25, after
ters,
to
•
especially true at Fall
more
of
May 12, that action,
them.
March)
given below.
Total crop of the United States, as before stated
Stock
having been
establishments
among
some
sufficient force to keep all machinery
a
curtailment
on
account of
2,369,827
year ending
August 31 1913, against a'crop of 16,043,316 bales (weighing
8,260,752,053 pounds) for the year ending August 31 1912.
NORTHERN
this
where
The only difficulty the labor
has been in the inability in
lesser extent has been necessitated right
along.
of seven mills of the Fall River Iron Works Co.
9,762,505
(weighing 7,327,100,905 pounds) for the
in 1912-13 have been
secure
motion,
bales
bales
602,418
closed.
at the
1.528,263
Total cotton crop for the year-bales 14,128,902 16,043,316 12,132,332
The
532,433
the growers generally a satisfactory profit on their
crops.
The returns to the manufacturers have not been as favorable
for the three years:
to
5,985,789
activity witnessed in the cottonmanufacturing industry of the United States in 1911-12 con¬
company)
3 include 25,247 bales foreign cotton, largely
Gulf shipping ports this
2,647,1541
2,736,217/5,383,371
Consumption in the United States and Europe.
other
The
_
467,959
UNITED STATES.—The
localities to
225,270
Bales.
Takings and consumption include 2,977 bales American cotton returned
and 229,940 bales foreign cotton
(Egyptian, Peruvian, &c.j I n 1912-13 and
238,039 bales foreign and returned American cotton in 1911-12.
282,353
These figures are only the portion of the receipts at these ports which
Note.—The total exports for 1 <12
_
1911-12.
a
River,
by rail overland from Tennessee, &o.
-
Northern mills' stock end of year, .bales.
in
11778836 4290,771 1197,729 5207,584 10696,084
8752.193 3356,988
.
situation has presented
3628,133 1008,975 4158,565 8,795,673 216,561
Prev. year
-
' The
5,517,830
worthy of special mention.
108,222
Totals—
This
-<u
—
Sept. 1
608,549 1656,732 4,055,327 125, 280101,511
151,934 454,50311,350,327 17,640 23,412
63,269 738,4601,048,006 27,640 20,359
1,641
4,120
25,562
143,148
57,122
1,135
34,791
66,164
125,099
San Fran..
a
a.
South
Great
r
602,418
5,630,311
_r—^
Consumption—N orth
Ports of-
Sept. 1
210,321
12,132,332
the above
in
Total
Sept. 1
176,130
16,043,316
_
totals for
1911-12 and 1910-11.
Receipts Year End.
297,225
14,128,902
crop
actual
movement
22
.
Cotton imported, plus stock decrease
The first table indicates the
require.
ports for each of the past two years and the export
for
Burnt during year.
given in the following pages, with
suggestions and explanations
of the year appear to
Bales.
2,214,180
2,369,827
Exports—
zp>
spinners
the
and
1910-11.
2,781,613
2,736,217
8,659,776
135,897
-
14,128,902 bales*
.
takings
Bales.
2,650,433
2,979,878
It will
Sept. 1 1913 will be found below
follows:
as
1911-12.
Bales.
.
xcvii.
has been
1912-13.
of the United States for
that the total crop this year reaches
seen
[Vol.
Takings for Consumption—
Our statement of the cotton
crop
be
CHRONICLE
THE
August 1912, the available supply- (not including
stocks here and abroad—and they were
extensive)
for the year
ending August 31 1913 is
494,387 bales.
Of this total,
seen
consumers
to have been 15,-
have taken about
14*440,000 bales; in other words, that amount has
of
gone out
sight—being the actual absorption for consumption at
Sept. 6
abroad and the amount burnt
home and
The visible
stocks.
1913
August 31
approximately 1,055,351 bales,
therefore,
was,
on
or
a
printing cloth situation at Fall River the past
The
added to mill
or
supply of American cotton
627
CHRONICLE
THE
1913.]
demands but briefest reference.
ing quotation for 28-inch 64x64s was 4e., and on Nov. 11
there was an advance to 4 l-16c.
No further change oc¬
larger aggregate than is ordinarily carried over from one
season
to another.
Of cotton other than American, the
curred until Jan.
combined world's visible stocks at the close of August were
followed
considerably greater than
in fact, were
the heaviest
carried
ever
Indian
East
The
season.
the corresponding date in 1912—
on
yield
at the end of a
over
of
larger than .that
was
season
On Aug. 31 1912 the rul¬
17 1913, when there
similar fall
a
on
drop to 4c.,
About
J^c.
April 28—the price eased off
later—on
was
March 26 by a decline to 3%c.
on
a
month
and there
was a
Aug. 13, and the quotation then established—
3%c.—was maintained to the close.
The year's output of
about 85% of normal capacity, and demand was
1911-12, the Egyption production likewise, and the amount
cloth
was
obtained from miscellaneous sources, although small in
very
close up to production, so that there has been very
supply of all varieties of
cotton
at
close
the
the
little if any
of
Demand, however, was not sharp enough to stimulate prices.
1912-13
moderately less than in 1912 and the invisible surplus
was
(mill stocks), depleted only to
increase in the stock of goods in first hands.
The visible
aggregate, exceeded that of the previous year.
slight extent during the 12
months, largely exceeded that at the end of any previous
year except 1912, and the same is true with regard to the
a
As
indicating the financial return from operations,
join
Fall River mills for the two seasons:
Dividends 1912-3, Dividends 1911-2
combined visible and invisible stocks.
or
largest in quantity, it made a better financial
of 1911-12 because of the higher prices
return than did that
the value of any crop
with
any
degree of exactness is quite
$
%
800,000
300,000
450,000
Linen Co
American
Ancona Mills
Arkwrlght Mills
The practical impossibility of arriving at
that have ruled.
2
Barnaby Mfg. Co__
dividend
No
No
dividend
dividend
No
dividend
abroad, the official
fair basis for
an
export price furnishes a very
average
approximate calculation.
Naturally, these
various expenses
the seaboard, do not repre¬
received.
The average export
export prices, including as they do all the
incurred in taking the cotton to
sent
the return the growere
Conanlcut Mills
251,670
6
400,000
8
1,250,000
6
Davis Mills..
Davol Mills
which basis the value of the 14,128,902 bales com¬
upon
187645 190534 12
of 1911-12, when the average was
mercial crop was in excess
10.2c., and greater than in any year except 1910-11, when an
12,132,332 bales yield
export price of 14.4c. gave to the
a
the season, on the whole, has
afforded only
a very
Cotton,
as
already noted, has
As
At the close of last
said.
gress
season
there
was a
strike in
the
new
the
operatives in the first week of September and work was
resumed
the
on
Early in the
9th.
faction broke out among
concessions
were
month dissatis¬
the loom fixers at Fall River, but
made by the manufacturers and operations
September
resumed
fully
were
same
Lawrence,
22.
Mass.,
primarily and other sections of New England to a lesser
extent, were disturbed for a
short time in late September and
early October over what was termed a "twenty-four hour
demonstration strike" called by the Industrial Workers of
the World
as a
protest against the confinement in jail without
bail of the two reputed
The trouble
nitti.
of
a
strike nature really
But while strikes have not been a source
worth mention.
of
strike leaders, Ettor and Giovanof short duration.
The foregoing
developments
only
comprise the
was
serious annoyance
We refer, as
of
operatives
to
keep machinery fully in
in particular, suffered from that
River has,
Fall
motion.
cause,
already mentioned, to the inability to secure a
force
sufficient
curtailment of output haying at times been rather
heavy, and
even
labor has been
in
sections of the South, shortage of
some
reported.
The manufacturers have not only
58,500
a6
6
21,000
6
750,000
4
30,000
48,000
4
16,000
45,000
*X
18,000
—2,000
6
45,000
12,000
42,000
—12" 000
1,200,000
4
400,000
4
750,000
6.
a
on
radical nature—a revision, in fact, which,
Mills....
No
800,000
...
1,200,000
1,050,000
1,000,000
1,200,000
Pocasset Mfg. Co
Sagamore Mfg. Co
5X
if it does not
mean
the industry, will, according to general belief,
reorganization in many departments.
2
IX
66,000
15,750
sx
6
60,000
6
8
96,000
6
72,000
24,000
22,000
2
4
550,000
4
,
No
No
1,000,000
4
40,000
700,000
6
42,000
6
45,000
6
8
24,000
72,000
30,000
30,000
&
Cotton
300,000
1,200,000
750,000
500,000
Co..
Wampanoag Mills......
Weetamoe Mills..
29,356,670
Total.....
*
On 5100,000 preferred stock,
ferred stock.
6
4
6
4.60
immediately preceding,
regarded
dividend
+ 24,000
+ 15,750
+
2+666
+ 24,000
+ 11,000
+ 30,000
42,000
-
45,000
8
24,000
72,000
6
15,000
+
3
15,000
+15,000
4.05
1,350,150
were
15",000
2
On Capital of $700,000.
a
disbursements
While aggregate
year
dividend
Woolen
Mfg. Co
Union Cotton Mfg.
:
+ 24,000
10,000
6
750,000
....
+ 16,500
11,000
1
Stevens Mfg. Co
Tecumseh Mills.
Stafford Mills
~+9"666
60,000
600,000
Mills
*X
dividend
HX
Shove
1,123,867 + 226,283
6 On $350,000 pre-
larger than in the
the foregoing
can
hardly be
encouraging exhibit, especially with the prob¬
as an
tariff will further de¬
Taking
the figures as they stand, it is seen that the 37 corporations
named, representing a capital of $29,356,670, distributed to
ability'
possibility that the
or
the
crease
earning
power
their stockholders during
new
of the capital invested.
the
year
ending Aug. 31 1913 an
aggregate of $1,350,150, or an average of 4.60% on
the in¬
vestment, while in the preceding twelve months the amount
paid out
was
$1,123,867,
or
4.05%.
Either of these
re¬
sults compares
and
quite unfavorably with many recent years,
far back as 1893 a similar statement compiled by us
as
showed
a
return of
8.63%.
Moderate expansion
in
with foreign countries is to
is
a
our
trade in cotton manufactures
be reported in 1912-13, but growth
mainly discernible in the outflow of goods to Canada and
the
Philippines.
Shipments to China, for instance, exhibited
considerable decrease in the fiscal year
and
were even
a
ended June 30 1913,
little less than in 1910-11.
Compared with
the very large totals
ures
a compara¬
their capital the past season, but now
revision of the tariff on cotton goods of a rather
tively small return
have to face
had to accept
90,000
27,000
42,000
21,000
30,000
24,000
+ 29,000
-—10,000
—12,000
36,000
Mfg. Co
to manufacturers in the season just
closed, there has been trouble over labor in another way.
6
dividend
90,000
Narragansett Mills.
pro¬
having developed in July over
grading system, but a settlement was reached with
at New Bedford, trouble
45,000
12,000
6
6
Osborn
Troy
regards the operating of the mills, there is not much to be
±X
IX
30,000
63,800
35,000
+ 5,033
6
Mechanics' Mills
ruled higher
in price but speaking generally there was not a
commensurate advance in the value of finished products.
3
75,000
30,000
34,800
6
Seaeonnet. Mills
margin of profit and has been even less satisfactory in some
lines than the previous year.
6
+ 12,000
350,000
Richard Borden Mfg. Co.
moderate
10,067
32,000
8
600,000
Co
Merchants'
60,000
54,000
4
1,500,000
Lincoln Mfg. Co
Luther Mfg.
No
40,000
6
*X
1,250,000
King Philip Mills
Pilgrim Mills
manufacturing branches of the cotton goods trade
In the
6
5H
3X
800,000
Hargraves Mills
Parker Mills
value close to 900 million dollars.
5X
1,160,000
1,000,000
Granite Mills
4
40,000
60,000
66,000
15,100
32,000
75,000
6
500,000
Flint Mills.
Laurel Lake Mills
price for the season of 1912-13 was about l£c.per pound,
'
4
Mfg. Co
Chace Mills
+ 8,000
dividend
dividend
No
1,000.000
1,000,000
1,200,000
Border City
Bourne Mills.
8,000
6,000
*6
No
No
495,000
350,000
Barnard Mfg. Co
$
S
1
16,000
6,000
*6
Cornell Mills.-
generally recognized, but as the greater part of our cotton is
sent
Amount. Dec. (—)..
%
Amount.
already stated, the commercial crop of 1912^13
as
not the
was
Inc. ( + )
Capital.
Sept. 1 to Aug. 31.
%
Although,
sub¬
we
compilation showing the dividends declared by the
a
seem
yards of
of 1904-05 and 1905-06, the latest fig¬
almost nominal.
South America took 54,163,558
our
cottons during the past season, against 53,037,-
292
yards in 1911-12 and 47,205.029 yards in 1910-11, and
the
shipments
to
the West
Indies and
Central America
dropped to 101,434,609 yards from 132,093,117 last year.
danger to
To the
force
they having risen from 45,813,890 yards in 1910-11 to 68,-
Nothing has been done during the year in the
way
of
of operatives at Fall River,
but as a matter of interest we append a compilation showing
the course of wages there during the past thirty-seven years,
changing the compensation
omitting
years
in which
no
Wage
Year.
per
Cut.
19.00c.
18.00c.
1880
21.00c.
-18.50c.
16.50c.
-.18.15c.
1888-.---19.00c.
changes
were
Year.
1892
1893
Year.
per Cut.
.63c. 1902---—21.78c.
(19.(
,00c.
19.80c.
121.(
18.00c.
17.32c.
>er Cut.
per (
18.00c.
(17.32c.
118.00c.
16.00c.
1906-.--118.O0c.
1894-. —-16.00c.
1895
1898—-
1899
made:
Wage
Wage
—
(18.00c.
"
Wage
Year.
ur
1907...
23.96c.
1908-..
1910-
I19.66c.
—
121.78c.
a
--19.66c.
19.66c.
21.62c.
28-inch, 64x64, cut of print
doth is 47X yards, woven in an ordinary 32-inch loom or,.less.
[23.96c.
1909-.-. ,19.66c.
\ 19.80c.'
Note.—The recognized standard length of
Cut.
(21.78c.
Philippines
a
marked increase in the exports is shown,
981,019'yards in 1911-12 and 93,259,705 yards in 1912-13,
but the outflow to Arabia,
after advancing from 9,094,520
yards in 1909-10 to 37,139,185 yards in 1911-12, fell off to
24,690,495 yards in the latest year.
Canada's absorption
our manufactures
continues to record considerable ex¬
of
pansion.
In the aggregate for all countries, the exports of
goods as reported quantitatively in 1912-13 reached only
444,729,241 yards and in the previous year 476,778,499
yards, there being a decline, therefore, of 6%% this year.
The total value of the cotton goods shipments for 1912-13,
however, records an increase of $2,974,466 over last year,
larger takings of wearing apparel from here accounting for the
But while
•our trade in cotton goods with the outside world records only
a nominal augmentation over 1905-06, that of Great Britain
(that of 1905-06), there is
a
slight gain.
A further addition to the
spinning capacity of the cotton
just
mills of the United States is to be noted in the season
•
at the
As in all recent years, development
South, but there has been
has been mainly
small addition at the North.
a
indicate
xcvii.
increase in
an
the volume of consumption in almost every State,
gain
with the
1911-12 greatest in North Carolina, which since
over
1906-07 has been the leading State in amount
terial used if not in
has advanced fully 30%.
closed.
These returns, it will be observed,
previous record
favorable showing; and compared with the
total
[Vol.
CHRONICLE
THE
628
of the
raw ma¬
The net result for the
spinning capacity.
in the aggregate for the Southern States is an augmen¬
season
in
tation
consumption
of
bales,
243,661
112,683,763
or
which
pounds, leaving the 1912-13 total 2,979,878 bales,
with approximately 2,720,418 bales at the North,
compares
for the
excess
an
or
field of 259,460 bales.
newer
The
re¬
investigations into the status of the Southern mills,
on a subsequent, ports at hand from the South, when gone over in detail, de¬
note that 3 old mills, with 14,072 spindles, have ceased
page, disclose clearly where expansion in that locality has
taken place and the extent of it.
The increased capacity, operations permanently, and 6 mills, containing 45,512
however, is not fully reflected in the volume of consumption, spindles, have become.active factors, making a net gain of
Our latest
the result of which will be found tabulated
of the
as some
of the
new
States
compiled by
as
as
a
South
spindles
SOUTHERN
1911-12.
.18,700,000
11,976,929
1910-11.
18,300,000
11,503,253
1909-10.
17,700,000
11,236,430
30,676,929
29,803,253
28.936,430
miils have done
cotton
very
well
on
ble, owing to
scarcity of efficient labor. This fact is
a
indicated by our replies,
possi¬
clearly
which denote that the establishments
full time quite generally but
run
the
that in many instances
portion of the spindles and looms has remained idle for
This, of course, has tended to hold down
a
want of hands.
consumption, but
even
at that a very
satisfactory gain over
the previous season is shown.
Important additions to spindles in all the leading cotton-
manufacturing centres of the South
of
features of the season
are
1912-13, with the Carolinas and Georgia, as usual, ex¬
factories have
begun operations very recently, others are nearing comple¬
tion, and on still others work is yet in the initial stages.
Following the plan inaugurated by us over a quarter of a
century ago, and very successfully pursued each year since,
we have within the past few weeks secured quite full detailed
information bearing upon the operation and development of
the greatest
hibiting
mills.
Southern
Some
progress.
new
follows, with continued ex¬
It naturally
That total,
31,440 spindles, during the season.
3 mills, or
however, does not comprise, the full extension of capacity in
1912-13, for the equipment of old mills was
follows:
whole, but full operation of all machinery has not been
have
part
31,216,592
North
Total
is
us
only
spindles in the United
1912-13.
18,800,000
12,416,592
Spindles—
,
mills have been in operation
The usual statement of
season.
extent of
season
increased to the
The aggregate net gain for the
408,223 spindles.
consequently, 439,663 spindles.
extension of the cotton-manufacturing in¬
was,
further
That
dustry at the South is intended is made clear by the infor¬
mation
ency
have received
we
is not
as
bearing
pronounced
replies denote that in the
should
be
witnessed.
near
the
As
that point.
on
The tend¬
earlier years, but our
future considerable expansion
in
as
some
situation
now
stands,
it is
reasonably certain that 2 mills, equipped with 50,000 spin¬
dles, will start
up
during the fall and early winter, and that
by the close of August next
year
5 other mills ^
containing
Contemplated addi¬
tions to old mills, moreover, cover about 270,000 spindles,
so that altogether the prospective augmentation in capacity
82,000 spindles, will begin operations.
within the next twelve months will reach 332,000
or
a
total about the
thermore,
a
same
as
spindles,
the addition in 1912-13.
number of buildings
are
which it is said to be the intention to
Fur¬
of erection in
install cotton-spinning
in
process
no very definite informa¬
And, finally, we have advices of
projects that are yet in a formative stage.
machinery, but concerning which
tion
a
can
yet be obtained.
number of
EUROPE.—At the end of, the season 1911-12, the cotton
industry in most European countries was in a prosperous
condition and there seemed to be every probability of a con¬
considerable increase from
tinuance of a healthy demand.
This season Europe has
year to year in the time and labor required in gathering and ■
not had the advantage of an American crop of 16 million
compiling the data; but the spirit in which our inquiries are
bales, but still, on the whole, there has been no shortage in
met by the mill officials fully compensate for the work.
The
supplies of the raw material.
Speaking generally, the pro¬
information given by each mill covers not only current opera¬
duction of yarn and cloth has been carried on on a profitable
tions, but projected future developments, and is very concise
basis, and very little complaint can be made as to the home
and complete. It gives the number of spindles and looms ac¬
demand and the takings of foreign customers.
Spinners of
tive or idle during the season, including new mills started and
yarn have continued to be hampered by the comparatively
additions to old plants; also the actual consumption of cotton
small supply in the better grades of American cotton, but
for the year, stated in bales and pounds, the average count
leading concerns, especially in Great Britain, purchased a
of yarn spun, and extensive details as .to new mills, whether
long way ahead, and it is said that some merchants have
already under construction or merely projected, and con¬
been badly put to it to keep their contracts.
Labor troubles
templated expansion in existing factories—in fact, all the
of one kind and another have harassed employers, but the
•information really essential to an intelligent and compre¬
industry in Great Britain has been free from any big strike
hensive review of the cotton-manufacturing industry of the
or lockout.
On the other hand, Spain has passed through a
pansion in
South.
that there is
a
The aggregates of our detailed returns, arranged by
States, is
all the
progress,
Establishments that have been idle
follows.
as
season
and
are
not
likely to resume operations
excluded from the compilation.
considerable
labor
•
Consumption.
as
Aver¬
Spindles.
Southern
•
Looms
Alive.
Running.
Av'age
age
:
Mills
States.
No.
Yarn.
Run.:
Bales.
Net
Pounds.
W'ght.
87,681 482.95
21
20
945,904 466.85
770,842 482.85
653,155 477.15
42,345,966
448,597,249
372,203,995
311,650,959
144",118",889
305
3,628,504
So.Caro.
155
Georgia
141
4,415,970
2,161,545
61
"973",685
"958",265 18", 687
19
292,918 492.01
3,450
1,013
2,441
22
34,809 492.72
13,968 489.26
53,455 507.35
15
No.Caro.
Florida.
.
425,960
27
_
"Alabama.
Mlssl'pl.
19
•
185,646
45,808
113,680
Louisiana
3
Texas...
16
Arkansas
2
13,728
301,914
42,088
102,352
Tenn'see.
26
Missouri.
3
Kent'cky
7
Oklah'a.
1
5,712|
135,624
45,808
100,528
7,028
301,706
39,480
93,544
6,712
12
15
3,937 502.85
5~096
19
910
12
1,312
14
80,240 483.25
17,286 494.40
21,382 488.32
8
4,301 464.13
be
said
that again
a
trade prosperity
17,151,042
6,833,920
27,120,506
1,979,704
38,775,981
8,546,129
10,441,316
1,996,227
Totals...
not being nearly so encouraging
experience of employers generally in Lancashire.
The International Federation of Cotton Spinners and Manithe
facturers
confer
18
415,460 11,455
3,570,373 58,398
4,159,429 101,516
2,073,195 40,555
Virginia.
•
must
throughout Great Britain, the experience of spinners and
manufacturers, however,
Number of
It
crisis.
feature of interest has been the continued
are
paid a visit to Egypt in October 1912, in order to
with the leading authorities of that country as to the
desirability of expanding the area under cotton cultivation,
and Also
improving the staple.
The annual congress of the
was held in June of this year at Scheveningen,
Federation
Holland, when
many
questions relating, to the industry
were
discussed.
Great
Britain.—Throughout the
met with an
of
season
employers have
encouraging demand, and there has been plenty
employment for the work people. In fact, in certain dis¬
tricts, there has been a shortage of labor and now and again
12,416.592 11,906,152 244,833
22
2,979,878 478.01 1,424,761,883
11,976,929 11,467,283 232,027
22
2,736,217 479.14 1,311,028,120
740
11,503,253 10,644,544 220,462
21
2,369,827 475.69 1,127,312,371
1909-10
731
11,236,430
20M 2,391,933 473.96 1,133,678,983
1908-09
727
10,780,308 10,370,333 214,716
20H 2,573,524 478.75 1,232,077,174
requirements of our customers in Calcutta, Bombay and
Madras have seemed to be unsatisfiable, and manufacturers
1907-08
717
10,451,910
20
have been
1902-03
694
7,039,633
1897-98
391
1912-13
753
1911-12
750
1910-11
machinery has had to stand idle owing to competent opera-
10,435,08^12.272
9,864,198|205,478
2,234,395 477.55 1,067,010,962
6,714,589 153,748
19H 2,049,902 479.85
983,649,984
3,670,2901 3,574,7541 91,829
1SH 1,227,939 470.04
577,186,180
terest has been
In piece goods, the feature of in¬
the extraordinary demand for India.
enabled
to
sell their production
ahead at profitable rates.
many
The
months
India has undoubtedly consid¬
erably benefitted as a result of three excellent
Note.—Much new machinery has been put In operation within the past few
months, Increasing the number of spindles appreciably without affecting consump¬
tion to a material extent.
These returns Include consumption of foreign cotton
by the mills.
.
tives_not being available.
monsoons,
and^at^the time of writing there seems to be every probability
of the present season being a good one, the rains in most districtsibeinglfull and widespread.
Business for China has
Sept. t>
greatly interfered with by the political troubles, but
been
recently
occurred in the exports.
improvement has
some
Makers of cloth suitable for the Near Eastern
circumstances in that part of the world,
it is rather remarkable that so
As the season has
taken.
much cloth should have been
drawn to
a
close,
a
distinctly
quieter demand in piece goods of all kinds has been experi¬
enced, and recently order lists have run down.
In certain
districts
weaving
rather badly wanted,
Makers of light cloths, such as dhoo-
fresh
notably in Burnley.
orders
are
mulls and jaconettes, have had a very good year.
shirtings have also done well, and have still
ties,
Producers of
The home trade has not
presented any particular fresh feature of moment, but most
of the leading houses have met with an encouraging turnover,
the fact of employment being healthy being a favorable fea¬
ture.
The following table gives particulars of our foreign
trade in yarn and cloth for the twelve months ending July 31:
plenty of work to go one with.
producers have sufficient work to go on
In the meantime
with
keep fairly steady in quotation.
to
In Austria all sections
markets have
passed through a very trying time, as, owing to the war in
the Balkan States, trade has been considerably hampered.
In view of all the
629
CHRONICLE
THE
1913.]
of the industry have been severely
by the war and disturbances in the Near East, and in
addition to fresh business being scarce, customers in Turkey
hit
and the Balkan States have
and in
the hands of manufacturers and
in
stocks
of
one
refused to take deliveries against
There has, therefore,been some accumulation
old contracts.
The best has to be made of the unfavorable
harassing time.
conditions, and, at the time of writing, the
outlook is dis¬
promising. Spindles estimated at 4,865,000.
irregular state of affairs has existed in France.
Many
tinctly
An
merchants,
and another producers have experienced a
way
more
firms have met with
much discouragement, and it
can scarce¬
done well. Machinery, to a
large extent has been worked at a moderate profit, but it
has been a struggle in many, quarters to make ends meet.
At the beginning of the season there was the promise of
better times, but later on the demand was not maintained,
and recently there have been many complaints as to the state
ly be said that producers have
of trade.
209.765.300
241,607,300
yards.6,377.504,400
6,779,373.900
7,222,665,300
although
It will be seen that,
occurred in piece goods, a
It
considerable increase has
distinct falling off has occurred in
American yarns
scarcely be said that spinners of
can
have had
a
a
shipments.
yarn
a
very
good
year,
but machinery has been working
profit and many concerns have done quite well.
This
our industry, however, has not yet fully recovered
section of
occurred five or
big increase in machinery which
from the
In Russia the season has been
221,753,900
...pounds.
Piece goods
at
1912-13.
1911-12.
"
1910-11.
Exports—
Yarns
and undoubtedly the production takes a lot
of moving off.
A feature of interest, especially early in the
season, was the
run on ring qualities, and most concerns
Undoubtedly. the lessened demand from this quar¬
above.
lack of development
in the spinning section of the industry.
In Egyptian yarns,
however, the year has been an excellent one.
Early in
the season producers booked heavily for distant months, and
although recent buying has not been of an important char¬
had
ter has
great deal to do with the
a
still healthy.
Labor questions of various kinds, have had to be tackled
during the year.
The bad-spinning question has been promi¬
nent, and for some months 17 mills have been stopped, .owing
lists
acter, contract
to
are
Federation and the Oper¬
The workpeople's organization, owing to
disputes between the Masters'
ative
Spinners.
their dissatisfaction in this matter, has
famous
there
Brooklands
are
In the
few signs of an early
withdrawn from the
At the time of writing,
agreement.
settlement of this question;
weaving section, the employment of non-unionists has
caused
a
good deal of trouble, especially in Nelson, but al¬
though there have been threats of a general lockout, no
ous
arisen.
crisis has
seri¬
good work, but necessarily progress must be
rather slow.
being made to grow long-staple cotton in
colonies, and it must be said that increasing interest is
Attempts are now
out
being taken in the work of this Association by all enagged
It will evidently, however, be a long time be¬
in the trade.
fore Lancashire spinners get
ica.
•■■■■..'
„
Tke number of
:
kind
or
caused much inconvenience.
manufacturers generally
The foreign
notable for labor disturb¬
another, and the strike of operatives
the
season
For spinners and
has been disappointing.
demand has been seriously affected by the near
demand has scarcely come up
Eastern troubles and the home
At the time of writing there is much uncer¬
expectations.
to
tainty
as
but most people are
remunerative business during the
in view of the more favorable news relating
to the future course of trade,
looking forward to
coming
season
to matters
a more
in the Near East.
'
Italy the feature of interest during the season
In
the formation of
a
spindles out of the 5 million spindles in the
about 4 million
being taken in the way of
Already action is
country.
has been
Cartel which comprises the owners of.
standardizing prices., and concerns which restrict the output
are
being subsidized by other members of the
and
a
combination.
trade has not been at all satisfactory,
the wretched state of affairs is said to be chiefly due to
Throughout the
too
In
season
rapid increase of machinery during the last few years.
Spain the
season
opened under favorable circumstances
and for the most part
of the
year
fair profits were made.
loss
Labor
Business, however, rather tapered off and there was some
of
strength with regard to the position of producers.
disputes of
one
the industry
kind and another have considerably upset
and the prospects are rather
uncertain.
and
striking falling off in
shipments of yarn from Great Britain has occurred.
The
home Remand all round has improved.
Spinners and manu¬
facturers have done fairly well and at the close of the season
most concerns have moderate engagements.
There is a good
deal of anxiety at the moment as to the future course of
prices, and buyers are not disposed to commit themselves
very far ahead. - There is a feeling, however, that before
A
fairly good
year
has been experienced in Holland
It is notable that a rather
Belgium.
,
Cotton-Growing Association has continued its
The British
one
at Lodz has
six years ago,
producing this kind of yarn have made large profits.
One
thing which has kept the yarn trade back has been the falling
off in our foreign trade, as will be seen from the figures given
of
ances
'
independent of growers in Amer¬
'
long
a
fresh buying movement will set in.
countries does not
demand seems to vary
considerably from year to year.
Producers do not appear
to be able to get a name in the markets of the world for their
particular production, with the result that when depression
comes
there is no regular demand for their manufactures.
Great Britain has this advantage over other European
The cotton industry in most European
seem
to
get firmly established and
...
spinning spindles in Great Britain is esti¬
'
mated at 55,576,0.00.
;
countries, that In certain
good demand,
as
yarns
and cloth there is always a
the marks are well known
throughout the
Speaking generally, it
The European Continent.—Speaking generally, spin¬
looks as though the consumption of cotton in Great Britain
ners and manufacturers in European countries have had a
and throughout Europe during the coming season will be
favorable year, but a good deal of irregularity has shown- nearly equal to the past twelve months, but indications do
itself in the experience of employers, and, on the whole, the
not appear to warrant any increase in the requirements of
returns
from
the industry have not been
anything like so
have been
responsible for this state of affairs, this being chiefly due to
particular characteristics of each individual country.
At the beginning of the season the state of trade in most
satisfactory
as
Various
in Great Britain.
rates.
Recently, however,
a
spinners of yarn
well engaged at profitable
much quieter demand has been
experienced, and during the last few months there has been a
down and for sellers to be
There has not been sufficient confidence
tendency for order lists to
easier to deal with.
in cotton
believed that
more
a
sale.
users.
We
are
indebted to
a
special and well-informed European
of the spinning in¬
Continent in 1912-13.
Taken in conjunction with our remarks on the situation in
the United States, presented further above, it covers quite
fully the countries of the world that take chief important
correspondent for the foregoing review
dustry in Great Britain and on the
rank in cotton manufacturing.
run
prices for buyers to place orders on a free scale for
distant delivery.
command
causes
parts of Germany was generally healthy,,
and manufacturers of cloth being
world and always
The prospects
business will
are
come
fairly healthy, as it is
round in the autumn.
A number of other
countries of lesser importance than those
already referred to, but at the same time growing factors in
the industry, deserve some mention if we desire to cover
comprehensively the history of the world's progress in cotton
630
CHRONICLE
THE
production and manufacture.
merely because,
compared
We say of lesser importance
with
Europe
and
United
the
States, their consumption of cotton is relatively small.
far
possible in the results presented below, official data is
giving: (1) the cotton consumption of each country
as
for
period of four
a
weekly
and also the annual totals and
years
however, has not thus far served
(2) the world's production—commercial
crops—for the identical years; and (3) the spindles in all
averages;
The
be obtained
further
results in former years.
increased
spindles there
last
over
Most
there is shown
material in 1912-13.
The
increased
an
the world is
gather from such information
has
as
come
the absorption of East India staple larger.
Canada
cannot do otherwise than
we
former
no
mill
or
From China and
supply
Our
burned
or
at
in the
case
through
than
data of value
therefore,
can
be
exports of
covers
Europe to localities other
The
sea.
imports.
table;
also the
compilation,
conse¬
quently, embraces substantially the entire distribution
consumption
of
obtainable, and Canada
specifically mentioned in the
lost
IN THE WORLD.
1912.
lfclO.
1911.
each) of the commercial cotton
and the
degree in which each country has participated.
WORLD'S
ANNUAL
COTTON
1912-13..
Countries—
56,000,000
40,000,000
55,600,000
39,000,000
99,800,000
99,250,000
98,500,000
96,000,000
94,600,000
South
18,800,000
12,416,592
18,700,000
11,976,929
18,300,000
11.503,253
17,700,000
11,236,430
17,000,000
10,780,308
Total U. S
31,216,592
30,676,929
6,463,929
2,169,796
960,000
29,803,253
6,357,460
2,099,764
950,000
28,936,430
6,195,671
2,004,968
850,000
27,780,308
6,053,231
1,731,587
836,000
9,593,725
940,000
750,000
9,407,224
920,000
750,000
9,050,639
900,000
750,000
8,620,818
890,000
726,278
1910-11..
Bales.-
-
East Indies
6,500,000
Egypt..
.2,300,000
950,000
Total India, &c._
Canada
9,750,000
940,000
Japan
China and
Mexico.-
750,000
Total Europe
10,000,000
United States—North.-. 2,681,804
9,880,000
2,587,858
In the above
Continent that
1,690,000
1,670,000
1,650,000
1,616,278
141,210,654 139,380,477 135,637,069 132,617,404
we
estimates for Great Britain and the
use
believe to be approximately correct.
we
results for the United States are, of course, our own
and those for India
is
taken from the official reports of the
are
approximation.
an
Japan's aggregates
municated, China's figures
are
com¬
in part estimated.
are
Great Britain's trade in cotton goods with foreign coun¬
tries,
indicated by the volume of exports, increased to
as
moderate
extent
during, the
result of greater
mainly,
year,
shipments to India.
however,
a
as
The statement of
(reduced to pounds) by quarters for the last t^o
is subjoined.
seasons
These
end with Sept. 30, and
years
3,776,000
5,460,000
consequently the last two months of the fourth quarter of
9,236,000
2,230,419
5,720,000
3,175,000
5,460,000
-
8,635,000
2,265,414
movement.
South-—
2,849,524
2,622,056.
2,254,625
5,531,328
1,700,000
1,500,000
144,693
25,990
5,209,914
1,607,280
1,357,460
155,085
15,369
4,485,044
1,494,217
1,087,184
4,060
114,153
19,565
240,624
2,724,040
155,400
2,706,069
114,722
18,465,732
355,110
16,600,484
319,240
15,988,563
307,472
Three
estimated
are
ciphers
4,532,772
1,517,048
138,579
season
the basis of the
on
July
omitted.
are
2,267,358
Total United States—East Indies
-
Japan
-
Canada
-----
Mexico-
—
————■
Total India, &c._
Other Countries,
—
Average, weekly
From the
GREAT BRITAIN'S COTTON GOODS EXPORTS FOR TWO YEARS.
3,370,683
298,000
&c—
Total world
—
,
3,135,194
"
19,200,011
369,231
foregoing it would
-1912-13-
1,055,303
a
Pounds.
Yards.
1st quar.—Oct.-Dec„w 64,607 1,789,501
2d quar.—Jan.-Mar
58,463 1,773,424
3d quar.—Apr.-June.. 58,667 1,809,365
4th quar.—July-Sept-b 58,000 1,900,000
Total..
that the world's total
appear
an
excess
the aggre¬
over
gate for a year ago of 734,279 bales and is 2,599,527 bales
-1911-12-
Yarns. Piece Goods.
(000s omitted).
a
consumption for 1912-13 records
Total.
Pounds.
411,649
403,874
407,027
430,000
The totals in
puted by
pounds in the above compilation
are
They indicate that the export movement this
The
from which cotton has been drawn in each of the
sources
last five years are
stated in the subjoined table of the world's
commercial crops, in bales of 500 pounds net each:
1912-13.
1911-12.
1910-11.
Bales.
'
Bales.
Bales.
Countries—
—
Egypt
—
Brazil, &c.dL
1908-09.
Bales.
Bales.
15,683,945 11,804,749 10,224,923 13,496,751
3,400,000 3,107,660 3,235,748
3,788,613
2,976,822
1,405,000
1,396,474
1,415,711
938,001
1,246,150
370,000
341,836
406,529
294,991
266,197
East Indies.a
—
more
19,118,220 20,529,915 16,862,737 15,246,528 17,985,920
Consumption, 52 weeks_.19,200,011 18,465,732 16,600,484 15,988,563 17,164,487
season,
*81,791
2,064,183
262,253
*742,035
Sept. 1 beginning year. 7,258,927
Sept. 1 ending year
7,177,136
5,194,744
7*258,927
4,932,491
5,676,526
5,194,744
4,932,491
"
Visible and invisible stock:
Includes India's exports to
Great Britain
append data
we
covering the last three
as
to prices, the statement
years:
1912-13.
1910-11.
1911-12.
n
n
821,433
§8*
consumption
Bombay.
Smyrna, Peru, West Indies, &c., and Japan
year's new supply.
.
,
.
The above
compilation indicates, in.brief but comprehen¬
sive form/ the world's supply of cotton (exclusive of that
raised in Russia)
in each of the five
sumed
the
and
were
also
extent
augmented
or
d.
to
years,
which
the amount
visible
diminished.
and
con¬
to
£
n
O-g
<M
*
R
no
20
d.
s.
d.
30_. 6.59 lOVs
8
8'
Oct.
6.50 io %
7.06 ioh
8
8
Nov.
31..
30-
8
Dec.
31.
7.11 10%
8
31-
8
Feb.
28-
Mar.
31..
6.84 10V2
6.89 10H
6.99 io H
Apr.
May
30— 6.58 10 y2
31- 6.61 10%
8
June
30..
8
July
Aug.
31-.
8
8
8
6.76 io %
6.53 10%
7 00 10H
8
8
3
tGfl,
too*
Sept.
31-.
P
I*
Jan.
and China cotton used in Japanese mills.
* Deficiency in the
«.«
•
§6
4,855,093
5,676,526
in India, increased or decreased by excess or loss of stock at
d Receipts into Europe from Brazil,
a
b§
Liverpool.
.
Europe, America and Japan and mill
and
pounds.
-
Surplus from year's crop.
stocks
than in the previous
complete the year's history of the cotton goods trade in
n
Total
has again
170,621,000 pounds greater than in 1910-11, when the out¬
To
1909-10.
'
46,595,000 pounds
,
13,943,220
*
season
record, having been 1,652,550,000 pounds,.or
ward movement of cotton goods was 1,481,929,000
WORLD'S PRODUCTION OF COTTON.
United States
new
are as com¬
believed to be approximately correct.
made
a
409,082
395,933
375,378
425,562
269,216 6,894,504 1,605,955
greater than the result for 1910-11.
Consequently, a new
record in consumption has again been established.
Total.
Pounds.'
b Estimated for the quarter on the July movement*
but
us,
Yards.
67,328 1,761,390
70,577 1,671,563
65,251 1,604,796
66,060 1,846,765
——239,737 7,272,290 1,652,550
Including thread,
Yarns. PieceGoods.
a
Pounds.
high
a
officially
are
compiled from consular reports
and for Canada, and Mexico the totals
the current
.
The
figures,
Bombay Mill Owners' Association, except that the latest total
•
Bales.
1,690,000
world.. —-142,456,592
Total
exports
1909-10.
Bales.
4,160,000
*
Total Europe
United States—
a
CONSUMPTION.
4,200,000
5,800,000
—
—
of the world,
crops
1911-12.
Bales.
Britain
Continent
1909.
56,500,000
42,000,000
or
(expressed in bales of uniform net weight of
500 lbs.
THE
gain
adopt the imports into
course, no
Countries,"
cotton from the United States and
those
and
or a
compilation for
56,750,000
42,500,000
covering home yield and
are
other
Brazil, of
"Other
secured.
operations
of
source
just closed
season,
For Mexico and
consumption;
statistics
recent
no
distribution
Great
twelve million,
over
spindles.
56,800,000
43,000,000
Total other
each country as a measure of
cotton
1913.
raw
to hand, its
season
important
most
follows:
as
North-—
of the
use
having been much greater than in the previous
than
numbering
NUMBER OF SPINDLES
is true of Japan so far as
same
takings from the United States in the
has
The
season.
important, next to the United States and Europe in
country also
the
past
of 439,663
Continent
its aggregate consumption of cotton is India, and in that
we can
the
now
year
Great Britain
'
making for
as a source
addition has been in the Southern part of the United States,
they stand to-day, compared with like
as
xcvii.
of supply.
spinning capacity of the mills of the world has been
manufacturing countries from which' reliable and recent data
can
to check efforts
partial independence at least of America
So
usde in
[Vol.
d.
5.86
5.12
103^ 5.13
10% 5.01
10 % 5.57
10H 5.88
d.
<0A,
d.
d.
s.
d.
s.
d.
9%
9H
OH
m
8
3
7
10
7
10
7
9% 8.07 11X-
8
9 3- 16
8
8
6
9%
8
OH 8.00 11%
4 H 7.70 10%
8
<2
§
8
7.70 11
8:33 11%
8
5
8
8
10 J* 6.20
9%
9% 6.41 10
9% 6.36 10 H
9% 6.60 10 X
7.42 10®^
9
6.40 10 H
.8
8
8
8
8
7.61 11
7.65 11X
8.14 11%
V*
8
.
8 H 8.28 1154
in 8.04 11%
ton 6.57 10%
7% 6.92 10%
S
0%
8
8
3%
6
X
%
8
9
8
8
8%
2 H
8
2
invisible
It will be noted that
We
now
add
a
brief summary by months of the course of
the surplus supply was decreased last year as a result of the
the Manchester
smaller
Aug. 31 1913, and also of the Liverpool cotton market in
the same form for the same period.
These summaries have
tinues
As
yield in the United States, but it nevertheless
of
we
con¬
comparatively large proportions.
have heretofore remarked, it will not fail to be noted
how small the supply
contributed by miscellaneous
sources
cpntinues to be in spite of the earnest efforts
last few years to
The current year
put forth the
develop cotton cultivation in new fields.
shows
a
fair
measure
of augmentation
1911-12 in the volume of these outside
an
extent
to
encourage
supplies, but not to
belief that in the
near
amount of cotton so secured will bear more than
cant relation to the total
supply.
,
over
future the
an
insignifi¬
Lack of adequate
success,
been
goods market during the
prepared for this
occasion with
details will, we think, prove an
season
great
closing with
care,
and
the
interesting and serviceable
record for reference.
SEPTEMBER.-—Manchester.—While
there
was
no
con¬
spicuous activity in the cotton goods market in September,
trading on the whole was of quite satisfactory volume, de¬
mand having been
tenanee
An
sufficiently large to
cause a
steady main-,
of values of the product of both looms and spindles.
interesting development of the month
was
the adjust-
Sept. 6 1913.]
ment
THE
CHRONICLE
trouble in the ring-spinning
of the
industry, a uni¬
formally ratified by the parties
Conferences on the subject of
"bad spinning" and the provisions for dealing with it in
the Brooklands agreement, however, had not up to the close
of the month brought a settlement of the differences, but
versal wages list having been
to the dispute on the 10th.
there
was
to reach
reason
no
to suppose that there would be failure
At the end of the month
one.
a
difficulty
arose
between the Oldham Master Spinners' Association and the
Cardroom Workers' Association over a question of compensa¬
tion to an injured woman operator and the action of the
Employers' Federation in refusing to meet a committee of
the workmen increased the manifest disposition to with¬
draw from the Brooklands agreement.
When the request
for a joint meeting was not acceded to by the employers, the
operatives handed in notice to leave work, to take effect
on Tuesday, Oct. 1, to which the employers made
reply that
in the event of a strike legal proceedings would be taken
against the operatives.
Manufacturers, as intimated above,
had a good month, for while sales were moderate they fol¬
lowed a period of decided activity,
India absorption of
goods was upon a large scale; the trading for China during
the month was considerable.
Some sales of fine goods for
Japan were reported and the smaller Far Eastern markets
bought fairly.
The war between Italy and Turkey af¬
fected the Turkish demand less than it might have been ex¬
pected to.
South American markets bought rather
spar¬
Exports of yarns and goods from Great Britain (all
to pounds) aggregated 131,300,000 lbs., against
120,032,000 lbs. in September 1911. Liverpool.—The market
for the raw material displayed no decided tendency during
September, though the net result for the month was a mod¬
erate advance.
Opening at 6.37d. for middling uplands, a
drop of 3 points from the August close, the quotation rose
to 6.71d. by the 9th, but receded to 6.58d. by the 11th.
From that level there was an advance to 6.82d. by the 19th,
after which the trend was steadily downward until 6.53d.
was reached on the 28th.
A recovery of 6 points occurred
on the 30th, the market closing the month at 6.59d.
ingly.
reduced
OCTOBER.—Manchester.—Notwithstanding the uneasi¬
in the cotton goods market arising out of the hostili¬
ties between Bulgaria and the allied forces on the one hand
and Turkey on the other, a good trade was reported in Oc¬
tober at well-maintained prices.
The Balkan war seri¬
ously affected some individual manufacturers, of course,
but had very little general effect.
Spinners' margins were
reported fair to good; manufacturers, with some exceptions,
were well engaged, and most exporters
busy.
Important
incidents of the month were the publication of the Inter¬
ness
national Federation's annual statistics of stocks and consump¬
tion and other interesting matter, and reports of extensions of
weaving sheds at Blackburn and elsewhere. Cloth sales, while
only moderate, were sufficient for a well-sold market, and
most manufacturers did well.
Those, however, who mainly
supply the demand from Eastern Europe, had to face the
disorganization consequent on the war.
But this did not
make much difference in the general market, and in some few
cases
it
was
convenient
for
manufacturers
to
turn
their
looms to makes that
were in demand for other places.
It
likely, moreover, that the war would not
be a very long one.
There was less buying for India, but
markets there were taking enormous supplies, and assimilat¬
ing them easily.
Somewhat more was reported doing for
China, but the smaller Far Eastern markets and South
America bought rather less than the average. There was a fair
home-trade demand. Altogether the position was good enough
if maintained. Yarns and goods exports for the month from
Great Britain totaled 153,343,000 lbs., against 152,696,000
lbs. in October 1911.
Liverpool.*—*The market for the raw
material was without any definite tendency during the
month, fluctuating within a comparatively narrow range
as a rule, and closing 9 points off from the final September
price.
The initial quotation for middling upland was 6.47d.,
from which level there was a drop to 6.05d. by the 16th.
was
considered
Between the last-named date and the 24th there
was
a
net
change in price of only 8 points—an advance—but thereafter
the market rose quite steadily and closed at 6.50d.
NOVEMBER.—Manchester.—Although the rise in the
price of cotton served to reduce the margin of profit, spinners
did well, on the whole, in November.
The effect of the war on the markets was less than might
have been expected and confined to a comparatively small
section.
Considering the large orders already in hand, the
strength of demand was remarkable and the markets generally
were in good condition.
A comparatively quiet month in
cloth was reported, prices having advanced considerably
beyond those at which such large sales had been made.
The
Near Eastern markets were very much
disorganized by the
war, and some kind of settlement was anxiously desired.
and manufacturers
The various Indian markets sent small orders where a few
months ago they were of large volume, but there was no sign
of the glut of goods that pessimists anticipated.
China trade
comparatively quiet, and Egypt was not doing much,
though its cotton crop was calculated to stimulate trading.
was
South American markets had rather
home trade demand
was
erally continued to be
a
a
quiet month.
The
Manufacturers gen¬
very well engaged and prices were
Some, however, complained that they
fair share of the general prosperity.
Exports
firmly maintained.
did not have
fairly good.
631
of yarns
and goods in November reached 130,521,000 lbs.,
against 135,267,000 lbs. for the same period of 1911.
Livervool.—The general trend of the market for cotton in Novem¬
ber was upward and higher prices than at any time since
early August were reached. Middling uplands started off at
6.63d., a gain of 13 points over the final October quotation,
and moved up to 6.90d. on the 11th without any mentionable setback.
The following week witnessed a net drop of
18 points, which was quickly recovered, and the market con¬
tinued to advance, until 7.09d. was reached on the 27th.
A
decline of 6 points on the 28th was recovered on the 29th,
and the final quotation of the month was 7.06d,
DECEMBER.—Manchester.—The
comparatively
high
of values for goods, which manufacturers showed little
or no disposition to shade, interfered materially with
trading
in December.
Add to this the let-up in activity natural at
the approach of the holiday season, and full explanation is
range
had for
a
volume of business rather below the normal for the
time of year.
Manufacturers, however, were well engaged
quite generally for the near future, and, therefore, felt no
anxiety over the light bookings for the month. Few offers
were received from India, and those, as a rule, small, the high
range of values deterring merchants from operating.
In¬
quiries for China were in evidence, but, for the same reason,
only a small percentage was booked.
South American
houses, having considerable orders already entered but un¬
filled, purchased very sparingly.
Traders for Near Eastern
markets were in better spirits, in view of the prospect of a
and
near
trade did
successful
little,
as
solution
of
the
Balkan
War.
Home
customary at the holiday period.
The
balance sheets of the mills in Great Britain for the calendar
1912 indicated that the twelve-month period had been
general prosperity for the cotton trade, and, although
results fell short of those of 1907 and 1908, they were the
most satisfactory both as to consumption and profits since.
year
one
of
Demand
throughout the year upon both spindles and looms
exhaustive, said Mr. Ellison, and with an
average price for the raw material ^d. to l^d. per lb. lower
than in the two preceding years, both spinners and manufac¬
turers were enabled to declare good dividends, while
adding
materially to reserves.
Exports of yarns and goods from
Great Britain for the month were 127,795,000 lbs., comparing
with 121,180,000 lbs. in December 1911.
Liverpool.—The
market for the raw material, after the advance of the previous
two months, was without any definite tendency.
Fluctua¬
tions were frequent and resulted in a net gain for the month
of five points.
Middling uplands opened at 7.06d., but had
declined to 6.884. by the 7th.
An almost steady rise then
occurred until 7.25d. was reached on the 14th, but the price
reacted to 7.08d. by the 18th, recovering to 7.13d. the
following day.
Dropping to 7.08d. on the 23d, the market
was
constant and
advanced to 7.18d.
28th,
on
the 27th, fell off to 7.lid.
on
the
the 30th, and finally closed the
month at 7.lid., a gain of 5 points over the final November
quotation and comparing with 5.01d. on Dec; 31 1911.
to 7.17d.
was up
on
JANUARY.—Manchester.—The demand for cotton goods
during January was rather quiet on the whole, but values were
quite generally
well maintained.
Some manufacturers
fared better than others, selling their full output or more,
and many did not lose ground seriously, but a majority, pro¬
bably, closed the month less well under engagement than at
the opening, and some actually were in need of orders.
The
attention of the trade centred upon several important sub¬
jects during the month, and one which came to an issue in
a direction
satisfactory to Lancashire was the proposal to
develop cotton-growing in the Sudan.
The opinion was
expressed that the Government guaranty of £3,000,000 for
work and development in the area which experts consider
best fitted for the production of the class of cotton most
wanted in Lancashire should presently strengthen the in¬
dustry in one of its weakest places.
The attack on the
Brooklands agreement did not seem to possess much vigor,
but a reasonable arrangement calculated to maintain the pres¬
tige of that famous instrument was considered by the trade to
be desirable.
The so-called "strike clause" recommended for
cloth contracts
by the Chamber of Commerce was also a sub¬
ject of interest and debate, but as the Cotton Spinners' and
Manufacturers' Association had not received anything like
unanimous support from its members, it was frankly acknowledged that the attempt to introduce the clause has failed.
The dyers' strike had some adverse effect on the home trade,
which still suffered to
bances of
the
some
extent from
the labor distur¬
early part of 1912. Home markets did not
buy very freely, but cannot be said to have shown any unfaforable signs.
The demand from the various Indian mar¬
kets was irregular.
Considerable improvement in the de¬
mand for China was noted.
Egypt, however, was disap¬
pointing, and the South American markets did less than their
average.
The smaller Far Eastern markets made normal
purchases.
Yarns and goods exports from Great Britain
in January were 147,271,000 lbs., against 131,721,000 lbs.
in the month last year.
Liverpool.—The general trend of
the market for cotton in January was downward, but only
moderately so.
Middling uplands started off after the
holiday at 7.19d., a gain of 8 points over the final December
quotation, but fell off to 6.83d. by the 15th and, after a
recovery of 8 points on the 16th, dropped to 6.68d. by the
20th.
The following three days witnessed a rise to 6.89d.,
but almost all the gain was lost on the 24th.
The price then
632
THE
CHRONICLE
[Vol.
xcvii
moved up again, reaching 6.92d. on the 29th, but dropped
to 6.83d. on the 30th and closed the month at 6.84d.
many cases
FEBRUARY.—Manchester—Comparative dulness pre¬
vailed in the cotton goods market during February, with
a consequent material reduction in the volume of orders in
hand.
At the same time, manufacturers were considered to
be still extensively under contract, and, such being the case,
there was no evidence of a disposition to noticeably shade
quotations in order to secure new business.
On the whole,
the Lancashire industry, although less busy in the selling de¬
partments than it had been, maintained an advantage over
most of its competitors. American spinners and manufactur¬
ers were said to be doing well, but some unsatisfactory reports
came from the Continent. Early in the month a joint meeting
between representatives of employers and operatives managed
to settle the disputes about bad spinning at several points. It
was supposed that the settlement of the particular cases her¬
alded some kind of general agreement, and it was disappoint¬
ing to find a score or so of mills on the point of striking on tho
same
subject.
It was not believed, however, that there
was material for an important rupture, and a friendly settle¬
ment was expected soon. The strike at the Bradford Dyers'
Association plant was settled, after continuing for six weeks.
Calcutta did very little during the month, and reports indi¬
cated that the high rates for money were a contributing cause
difficulty, which yielded but slowly to the pressure of the
Powers; the apprehensions in the United States about the
change in the tariff, and the belief in some quarters that
there had been some over-estimation of the consumption of
cotton.
There was another breaking out of the non-union
difficulty at Nelsoni
The difficulty was a grave one, and
to the
comparative dulness of the Indian markets generally.
rains, after a bad start, improved, and the
country generally remained very prosperous.
A good deal
was heard about China during the month, and though the
hitches in the loan negotiations were very discouraging and
the fall in exchange against buying, there was a considerable
business done.
Trade with Singapore, Rangoon, Java and
other Far Eastern markets was rather light.
Egypt hardly
came up to reasonable expectations, and the Levant markets
generally
did little.
South
American
markets were
quiet.
Reports from the home trade seemed to indicate
something like an average beginning of the spring season.
The exports of yarns and goods from Great Britain were
128,513,000 lbs., against 117,635,000 lbs. for the same month
in 1912.
Liverpool.—The market for the raw material dis¬
played no decided tendency during February, though the
net result for the month was a very moderate rise.
Opening
at 6.83d. for middling uplands, a drop of 1 point from the
January close, the quotation advanced to 6.99d. by the 11th,
but had receded to 6.73d. by the 17th.
From that level
there was a fairly steady upward trend to the close, which
The
■
was
winter
at 6.89d.
the
had not been
than
lower
business
prospects
of
an
amicable
agreement.
A
conference
was
in the cotton trade and to abolish
fines, but the representa¬
employers and of operatives did not apparently
discover much
ground of agreement.
The
renewal
of
demand from India during the month Was taken as
indicating
that the markets there were not over-supplied with stock.
China demand was adversely ^'affected by the
uncertainty
consequent upon her financial needs, and the heavy fall in
silver made it difficult to transact business here, still a sub¬
stantial trade for that quarter was done.
The Near Eastern
markets were under a cloud, owing to the Balkan War, but
there was a considerable volume of exports to
Turkey;
Egypt did but little and the South American markets were
quiet.
Home-trade reports were, on the whole, fairly good.
The month's yarns and goods exports from Great Britain
were
128,091,000 lbs., against 146,546,000 lbs. in March
1912. Liverpool.—A further moderate net advance in the value
of cotton occurred in March after day-to-day fluctuations.
Middling uplands opened the month at 6.85d. and, after
dropping to 6.74d. by the 10th, regained all the loss by the
14th.
From that level there was a rise to 6.91d.
by the 17th,
a drop to
6.87d. the following day, an advance to 6.89d.
tives
on
a
of
the
19th and
loss of 5
6.91d
on
the 20th.
The 25th witnessed
still
very
extensive at the close. Among
overcome at
were
the end of the month.
the Balkan
The bad-
those
current.
A
fair
amount
of
home-trade
reported, but mostly supplementary to the
seasonal orders.
The yarn market suffered from a decrease
in the demand for export.
Yarns and goods exports for the
month from Great Britain totaled 133,623,000 lbs., against
122,724,000 lbs. in 1912.
Liverpool.—The trend of prices
for the raw material was downward on the whole, although
at first thefe was no definite tendency.
Opening at 6.91d.
middling uplands moved up to 7d. by the 5th, was down to
6.95d.
date
held between the various interested parties on March 12 in
reference to proposed legislation to reduce the hours of labor
were
spinning problem, too, was still a cause for anxiety, and in
this case disagreements between the two main operatives'
associations added to the complexity of the situation.
The
withdrawal of the yarn from so many mills, it was believed,
might have some temporary effect in strengthening the mar¬
ket, but such a state of things was deplored.
Another
difficulty that was feared might become an awkward one
was
the strike of cop packers in the Oldham district.
A
dispute in the Yorkshire spinning industry was settled on
April 1 after notices had been tendered at 32 mills.
The
publication of the International Federation's half-yearly
statistics of stocks provoked some discussion, as the supplies
appeared to be rather larger than had been expected.
A
few looms were stopped here and there for want of orders,
but no sheds were closed, and, though manufacturers' en¬
gagements were rather irregular, they could still be called
good generally. India continued to do a good business, the de¬
mand from Calcutta in particular astonishing those who stud¬
ied the figures of exports to that market. Bombay was handi¬
capped somewhat by the boycott of importers consequent on a
dispute between the Chamber of Commerce and the Native
Piece Goods Association. While some of the China staples,
too, sold well, there was a check to the demand, owing to the
political and social disturbances there.
The Near Eastern
markets remained depressed; Egypt continued very dull;
Persia, too, did little.
South American markets were sound
enough, but most of them had bought pretty well at prices
was
on
the
.
MARCH.—Manchester.—There was only a moderate
inquiry in the market for cotton goods during March and,
consequently, the volume of orders booked was rather
below the average in quantity, but trading on the whole
was profitable and most
producers were well under engage¬
ment as a result of the large volume of transactions put
through some months earlier.
A notable fact in connection
with the extensive contracts entered into with the important
foreign markets, and the large deliveries subsequently made
in the fulfilling thereof, was that there did not appear to
be
any
unwieldy
stocks
anywhere'.
India purchased
enormously in 1912 and this caused some anxiety at the
time among exporters, but a succession of good monsoons
assisted in the easy assimilation of the deliveries; the current
demand from that quarter was not indifferent and with a
good start to the next monsoon another very satisfactory
year with India was anticipated.
The removal, early in the
month, of the menace of a railway strike was a great relief
to the trade.
In the cotton-manufacturing industry itself
the disagreement between employers and operatives on the
bad-spinning question was the most important matter
unsettled, but it had not reached the point endangering
they
depressing influences of the month
the 8th and back to 7d.
tendency
was
on
the 10th.
After that
quite steadily downward, with the
close at 6.58d.
MAY.—Manchester.—While
some
spinners and manu¬
business in May, the cotton
goods market on the whole was rather quiet, but the tone
was comparatively firm.
Labor disputes continued to be a
vexing problem, three being still unsettled.
The trouble
about "bad spinning" remained open, an attempt at settle¬
ment made on May 21 at a joint conference having failed,
the parties separating without any arrangement for another
meeting.
The advantage was, of course, on the side of the
employers, for the reduction in the output of yarn helped to
strengthen the market.
The cop-packers' strike, from a
mere inconvenience,
developed into quite a serious affair.
In the weaving industry a grave difficulty still existed at
Nelson.
Although manufacturers sold only moderately,
most of them continued to do comparatively well.
Notable
exceptions to this were among those who cater for the Near
Eastern trade, who still suffered from the disturbed state of
the markets there.
Makers of heavy goods felt the absten¬
tions of buyers for the Near East, and China had not done
much for some time.
Demand for Bombay was quiet, but
there was a continuance, in some measure, of buying for the
other Indian markets.
This was not large, of course, for
India was already well supplied.
The arrangement of the
Chinese loan did not bring any sudden accession of business,
though inquiry was more active.
The Turkish and Near
Eastern markets generally could not buy with any confidence,
facturers did about
and
the
smaller
an
Far
average
Eastern markets
seemed
featureless.
Buying for the South American markets was on the whole
very cautious.
A moderate demand was in evidence for
the Continental, colonial and home markets.
Spinners of
American yarns were stiffened by the labor difficulties, and
this served to offset a falling-off in the volume of exports.
As regards the future, the prospects were generally considered
favorable, and, with the war at an end, abundance of money
in China and a good beginning of the Indian monsoon,
expectations were for another good year.
Shipments of yarns
and goods from Great Britain were 136,294,000 lbs., against
131,531,000 lbs. in May 1912.
Liverpool.—The market for
the raw material was without special feature during the month,
although fluctuations were frequent.
Middling uplands
opened at 6.60d., or 2 points higher than the April close,
and advanced to 6.72d. on the 2d, dropped back to 6.62d.
on the 5th, advanced again to 6.76d. by the
13th, but im¬
mediately eased off and on the 19th the quotation was down
to 6.69d.
From that level there was a rally to 6.79d.
by
the 23d, followed by a steady drop to the end of the month,
the close having been at 6.61d.
points, but the 27th found the quotation up to
6.99d. and at that figure the market closed the month after
JUNE.—Manchester.—A very moderate demand charac' terized the cotton
having been down to 6.94d. on the 28th.
goods market in June and at the close man¬
APRIL.—-Manchester—A rather quiet month was ex¬ ufacturers were to some extent beginning to need orders.
perienced in the market for cotton goods and the engagements A favorable incident of the month was the settlement of the
of spinners and manufacturers dwindled a
little, though in cop-packers' • strike, but the bad-spinning
difficulty
con-
Sept. 6 1913.]
THE
CHRONICLE
tinued to interfere with operations at a good many mills; con¬
ferences had been held without arriving at any conclusion and
promised; meanwhile the mills were idle. The af¬
termath of the Balkan War remained a discouragement to
trade.
The expected increase in China trade seemed to be
more were
delayed by the fall in exchange, and the uncertainty about
monsoon was another
deterrent, though the latest
news
was
good.
Taken altogether, however, the cotton
goods industry continued to do pretty well and it was be¬
lieved that considerable buying from sections where
supplies
were really needed could not be
long delayed.
As usual,
June was a very
quiet month for India; in some classes of
cottons it was reported that
purchases had been more than
sufficient, and a disposition was apparent to cancel goods
that were not well up to time.
Nevertheless there was no
evidence of anything approaching a glut in that market. China
continued rather disappointing. Business with the Near East
suffered severely through the failure to conclude definite
arrangements for peace.
Egypt was still an unsatisfactory
market, there was no change from the general dulness of
South America, and reports from Colonial, and European
the Indian
markets
lost
were
rather
quiet.
633
to 6.97d.
The close at 6.97d. compares with 6.40d. at the
end of the previous season, or a gain for the year of 0.57d..
We now give a compilation which covers the figures ofJ
consumption in detail for each of the principal countries
embraced in the statement of the world's annual consump¬
tion already presented, and the total of all.
These figures
not the
takings of the mills, but the actual consumption,*
cases expressed in bales
of 500 pounds.
The
figures in the table cover the years from 1884-85 to 1912-13
inclusive, and are given in thousands of bales.
are
and
in all
are
United, States.
Europe.
500-4b. bales
000s omitted
Total.
I!
|1
&
&
1884-85
2,746
2,902
2,955
3,073
little ground during the month, though their situation
fairly good at the close.
Exports of yarns and goods
from Great Britain were quite a little in excess of the corre¬
sponding period of the previous year, the comparison being
between 137,109,000 lbs. and 121,093,000 lbs.
Liverpool.—
Raw cotton moved to a higher level in June, and while all the
advances were not maintained, the close was
moderately
above the final prices of May.
Opening at 6.57d., middling
uplands, though fluctuating up and down, advanced to
6.81d. by the 18th, dropped to 6.72d. by the 24th, were
up
3,016
1889-90...
3,227
Av.6y'rs
2,986
3,002
5,988
1,564
377
1,941
607
1890-91...
3,384
3,181
2,866
3,233
3,250
3,276
3,631
3,619
3,661
7,015
557
2,367
924
632
150
125
918
200
195
959
192
105
1,074
1,105
286
861
2,576
2,551
2,264
2,743
2,572
914
7,436
1,810
1,944
1,872
1,593
1,940
1,711
363
10,565
10,291
10,580
160 11,543
129 11,605
3,198
3,821
7,019
1,812
700
2,512
983
215
120
4,368
7,592
2,738
132
4,628
4,784
8,060
3,334
3,269
3,253
7,910
7,845
8,089
2,207
1,154
1,309
1,501
1,577
1,830
2,962
3,553
3,856
1900-01...
4,576
4,576
4,836
3,727
4,037
1,004
1,141
1,314
1,139
1,060
1,384
414
1899-00..
1,776
1,808
2,244
2,355
962
1898-99...
3,224
3,432
3,519
1901-02...
On the whole, manufacturers
1888-89...
2,604
2,772
2,912
3,037
3,256
3,432
Av.6y'rs
3,339
4,628
7,967
2,089
1,389
3,478
3,185
3,017
3,620
5,148
8,333
2,048
4,015
5,148
8,165
3,892
3,690
5,148
5,252
5,460
5,720
8,768
9,026
9,352
9,410
2,001
2,194
2,440
2,575
2,093
1,967
1,907
2,116
2,286
2,375
2,134
3,529
5,313
8,842
2,225
3,720
3,175
3,776
4,160
4,200
5,720 9,440
5,460 8,635
5,460 9,236
5,720 9,880
5,800 10,000
2,448
2,266
2,230
2,588
...
1885-86...
1886-87
...
1887-88...
5,350
5,674
5,867
6,110
6,272
6,659
1,286
1,512
1,578
1,624
1,704
1,682
467
00
310
1,822
504
20
361
569
30
617
40
444
1,939
2,024
2,148
697
50
503
2,185
791
60
241
1,527
400
7,444
8,120
8,505
8,891
9,267
9,795
34
8,67Qt
a
was
to 6.80d.
on
the 26th and closed at 6.76d.
JULY.—Manchester.—While prices were well maintained
during July, the demand for cotton was rather disappointing.
In fact it
noted that,
although looms were quite gener¬
ally active, the new business booked was of less than average
volume, and that, consequently, in a number of departments
the engagements of manufacturers were perceptibly dwind¬
ling., The satisfactory weather news from India was fa¬
was
vorable to
a continuance of demand from that
quarter, al¬
though the great volume of exports suggested a possible
over-supply of goods in the near future.
China, due to the
serious political conditions, did little, and the failure to
arrive at a peaceful solution of the troubles in the Balkan
States interfered with trade in the Near East; while com¬
mercial
or
other
financial
disturbances
checked
business
with
countries.
Spinners and manufacturers lost
some ground; it is surprising that they should have held their
own so well.
Little was heard of the bad-spinning dis¬
putes during the month, but a large number of mills were
still idle, and this contributed to the strength of the market.
Burnley and Nelson weavers were reported to be getting
quite short of orders for their narrow looms and some low
prices were taken in order to keep them going.
A good many
spinning mills were stopped all the month, and this contributed
to the strength of yarn prices. Exports of yarns and
goods from
Great Britain were 142,520,000 lbs., against 145,797,000
lbs. in July 1912.
Liverpool.—Advices, from the United
States largely shaped the course of prices for raw material
during July, the Agricultural Department's report on acre¬
age and condition, issued on July 3, having been about as
expected. Middling uplands opened the month 8 points below
the June close but by the 3d had advanced to 6.74d.
The
price then receded to 6.66d. (on the 8th) and was up to 6.76d.
by the 10th.
No mentionable change occurred thereafter
until the 23d, when a decline set in that carried the quota¬
tion down to 6.52d., on the 28th.
A recovery of 2 points
followed on the 29th and a drop of 1 point on the 30th, and
at the then ruling price, 6.53d., the month closed.
some
1891-92
...
1892-93
...
1893-94
..
1894-95
..
1895-90-
Av.6y'rs
1896-97
—
1897-98-
1902-03
...
1903-04..
1904-05
—
1905-06
...
—
Av.6y'rs
1908-09..
1909-10
__
1910-11...
1911-12*.
1912-13*.
4,030
4,160
3,774
1906-07..
1907-08
3,827
6,800
6,527
7,060
7,280
8,303
2,150
2,682
679
671
803
106 10,511
99
10,849
11,880
191 12,888
634
703
142 14,015
157 13,773
711
632
152
726
179 14,415*
1,174
620
159
567
4,726
4,950
4,227
1,364
1,368
1,474
1,586
1,552
1,561
891
14,478
14,310
305 15,612
223 16,435
238 16,999
192 16,281
2,131
4,356
1,484
781
223 15,686
2,464
2,267
2,255
2,620
2,849
4,912
1,653
881
278 17,16*
4,533
1,517
1,494
1,055
1,087
1,357
1,500
3,908
4,310
4,485
5,210
5,531
13,398
199
693
176
755
874
907
1,607
1,700
13,41ft
249 15,989
298 16,600
412 18,466
469 19,20 O
♦Figures of European consumption for 1911-12 and 1912-13 will
probably be
changed slightly by Mr. Ellison in his October annual.
Another general table which we have
is needed in connection with the
compiled of late
foregoing to furnish a
years
com¬
prehensive idea of the extent and the expansion of this
industry.
It discloses the world's cotton supply and the
sources of it.
The special points we have sought to illus¬
trate by the statements are, first, the relative contribution
to the world's raw material by the United States and
by
other sources, and, second, to follow its distribution.
Be¬
ginning with 1896-97, the figures of visible supply include
Alexandria and Bombay stocks.
WORLD'S SUPPLY AND DISTRIBUTION
OF
COTTON.
Visible
and
Crops.
50046.
Invisible
bales.
Supply
Balance of Supply
End of Year.
Total
•
Actual
Begin¬
United
All
ning of
States.
Others.
Consump¬
Total.
tion.
In-
Year.
Visible.
1884-85... 1,550,000
1885-86— 1,343,000
5,136,000
5,984;000
5,960, 000
6,400, 000
6,463,000
6,820,000
2,101,000
2,234,000
2,577,000
2,309,000
2,632,000
1888-89— 1,291,000
1889-90... 1,119,000
7,237,000
8,218,000
8,537,000
8,709,000
9,095,000
9,753,000
7,444,000
8,120,000
8,505,000
8,891,000
9,267,000
9,795,000
6,127,000 2,464,000 8,591,000
1886-87— 1,441,000
1887-88— 1,473,000
visible.
8,670,000
984,000
968,000
999,000
772,000
682,000
846,000
359,000
473,000
474,000
519,000
437,000
231,000
8,137,000 3,039,000 11,176,000 10,511,000 1,315,000
8,640,000 3,001,000 11,641,000 10,565,000 2,310,000
6,435,000 3,296,000 9,731,000 10,291,000 1,903,000
7,136,000 3,314,000 10,450,000 10,580,000 1,792,000
9,640,000 2,978,000 12,618,000 11,543,000 2,185,000
6,912,0,00 3,421,000 10,333,000 11,605,000 1,231,000
427,000
2,933,000
Average
6 years.
.
AUGUST.—Manchester.—Unwillingness
the part of
merchants to pay ruling prices was a prominent feature in
the cotton goods market during the greater part of August.
It was particularly true, however, in the early part of the
month, when the raw material showed a declining tendency.
News from India was of a reassuring nature, and advices
from. China were more encouraging, indicating that stocks
there were considerably reduced and th&t when the
country
fained more confidence there the month
should be
fact, about the middle of
n
from
both
quarters
was
in
evidence.
on
a better inquiry.
good demanc
a
As
regards Med¬
points, no new features developed, but with
the crop situation good, it was
anticipated that a settle¬
ment
of the political situation there would witness
a
noticeable expansion in
business.
South American
de¬
mand was merely of a passive
nature, and buying for
the home trade was along only moderate lines.
In the aggre¬
gate the dealings for the month were below the normal for
the time of year, but the volume of unfilled orders in the
iterranean
hands of
some manufacturers at the close of
August was stil
fairly large. Liverpool.—The market for the raw materia
displayed no particular activity during most of the month
The course of prices at first was towards a lower
level, but
near the close
there was a rather sharp rise.
Middling
uplands opened the month at 6.57d. and dropped quite stead¬
ily until 6.40d. was reached on the 15th; but from that level
there was an advance to within one
point of the opening by
the 20th, and by the 29th the quotation had been markec
up
to 7d.
Then followed a sharp rise based upon crop
news from America.
On the 30th there was a drop of 3 points
„
1890-91..
1891-92..
1892-93-
1893-94..
1894-95..
1895-96—
1,077,000
1,742,000
2,818,000
2,258,000
2,128,000
3,203,000
508,000
355.0Q0
336,000
,018,000
700,000
Average
6 years.
7,817,000 8,175,000 10,992,000 10,849,000
1896-97. <— 1,931,000
1897-98— 1,923,636
8,435,868 3,438,000 11,873,868
10,890,000 8,316,290 14,206,290
11,078,000 B,694,934 14,772,934
9,137,000 8,092,897 12,229,897
1900-01.. 2,456,489 10,218,000 B,414,454 13,632,454
1901-02— 2,673,027 10,380,380 4,033,569 14,413,949
1898-99— 3,241,158
1899-00.. 3,999,364
11,880,332 1,295,636
12,888,768 1,905,158
14,014.728 2,371,364
13,772,772 1,071,489
13,415,916 1,549,027
14,414,9081 ,306,068
628,000
,336,000
,628,000
,385,000
,124,000
,366,000
Average
6 years
10,023,207 3,498,358 13,521,565 13,397,911
1902-03-
2,672,068 10,511,020 4,215,667
2,921,061 9,841,671 4,317,670
2,770,244 13,420,056 4,464,000
1905-06— 5,042,633 11,002,904 4,568,629
1906-07... 4,178,938 13,306,846 5,205,837
1907-08— 5,692,723 11,257,538 4,186,104
1903-04..
1904-05—
14,726,687
14,159,341
17,884,056
15,571,533
18,512,683
15,443,642
14,477,694
14,310,158
15,611,667
16,435,228
16,998,898
1,177,677 1,743,384
1,735,007
2,541,164
2,476,453
3,477,226
3,254,98 9
1,085,237
2.501,469
1,702,485
2,215,497
16,281,272 1,600,104
Average
6 years.
11,556,672 4,492,985 16,049,657 15.685,819
1908-09... 4,855,093 13,496,751 4,489,169 17,985,92017,164,487 1,875,140
3,801,38 6
1909-10... 5,676,526 10,224,923 5,021,605 15,246,52815,988,563 1,367,624
3,564,8 67
1910-11... 4,932,491 11,804,749 £,057,988 16,862,737 16,600,4841,537,249
3.657,4 86
1911-12... 5,194,744 15,683,945 4,845,970 20,529,915 18,465,732 2,095,478
5,163,4 49
1912-13... 7,258,927 13,943, 22016,176.000
To illustrate the
19,118,22019,200,0112,015,2115,161,9 26
preceding, take the last season, 1912-13, and the results
wou
Id
be as follows:
Supply—Visible and invisible stock beginning of year
Total crop during year
Total supply—bales of 500 lbs
Distribution—Total consumption, Ac
....
.....
Leaving visible stock
Leaving Invisible stock.
+
...
bales.
7,258,927
19,118,2 2
26,377,147
.19,200,011
2,015,211
5,161,925
Total visible and Invisible stock at end of
year.,
:.
7,177,18
634
CHRONICLE
THE
Overland and Crop Movement.
OVERLAND.—There has been
a
CROP
loss in the volume
of
carried overland by the rail routes the past year.
This is but natural in any event, with the considerable re¬
duction in the total yield of the staple, nor is it at all surpris¬
[Vol.
DETAILS.—We now proceed to give the details
for two years.
of the entire crop
cotton
ing that the ratio of falling off in the rail movement should
be greater than in the total crop.
The fact of the matter is
the percentage so marketed has been quite steadily
dwindling, until in the season just closed it reached but
11.7%, whereas some few years ago it was nearly 20%.
But, as we have heretofore remarked, the diminution in tins
movement is clearly explained by the fact that not only is
transportation by water nowadays as expeditious, or more so,
as
by rail, but generally at lower rates.
that
LOUISIANA.
than half the total of 1911-12, whereas
the rate of loss via St. Louis is only 11.1%, via Virginia
1912-13-
Exported from New Orleans:
To foreign ports
To coastwise ports
To Southern ports,
Ac., by
river and rail*
Manufactured *
23,412—1,739,990
29,071
2,217
-
8,816
14,876
17.640—1.491,775
34,845
9,985
1,500
30,962—
116
23,412—
Total movement for year
Furthermore, the movement through Rock
Island is over double that of last year and a little more
cotton was carried via Cincinnati this year than in 1911-12.
The Illinois Central showed a moderate loss in the figures
reported from month to month during the season.
Now,
however, it appears that there was evidently, as last year,
some error in compiling the totals, and a check of cotton
shipments for the season is being made. We have been
notified that it will be at least a Week before the checking
can be completed
and have had to use an estimate based
on incomplete returns, which we do not believe will
vary
in any material degree from the actual result.
The smaller
movement over "Other Routes" reflects, of course, the de¬
crease
in takings by Japan of American cotton, which
almost wholly moves via the Pacific seaboard, to which
it is carried by the various transcontinental lines.
It
does not follow, however, that all the several roads have
suffered loss of traffic; on the contrary, the Atchison and
the Western Pacific lines made important gains in the
volume of cotton handled to the Coast.
To indicate the
relation the gross overland bears to the total yield in eachof
the last twenty years, we append the following:
54,816
1.436,959
77,292
1.662,698
In overland we have deducted these two
items.
TEXAS.
more
points 14.4%.
1,600,625
92,261
23.089
15,557
-
Received from Mobile
Received from N. Y., Ac—
Received from Cuba, AcStock beginning of year
*
-1911-12-
i ,350,327
85 162
Stock at close of year
Deduct—•
While most of the various routes have shared in the de¬
creased movement this year, they have done so in a widely
different degree.
Through Louisville the roads have car¬
ried not much
xcvh.
-1912-13
-1911-12-
Exported from Galveston,Ac.:
To foreign
ports
(except
Mexico)
4,039,954
To Mexico from Galveston,
Corpus Christ!, Ac
15,373
3,887,341
__
To coastwise ports ♦
Stock at close of year
125,280—5,104,028
Received at Galveston, Ac.,
from Texas City, Ac
11,605
101,511-
Stock at beginning of year-
50
■
Total movement for year
*
12,621
648,208
101,511—4.649.681
093 491
;
Deduct—
113,116
59,700—
4,990,912
Indudes 18,484 bales
59,750
4,589,931
shipped inland for consumption, Ac., deducted
in overland movement.
GEORGIA.
1912-13-
Exported from Savannah:
To foreign ports—Upland—
To foreign ports—Sea Island
To coastwise porta—
Upland*.
•1911-12-
830,661
5,526
441,245
24,413
To coastwise ports
Burnt
554,924
43,976
211,819
31,435
-
Sea Island *
Exported from Brunswick:
To foreign ports
1,768,847 '
17,727
372,824
52,790
5,392
-
Stock at dose of year—
-
Upland
13,923
13,717- •1,572,739
-
Island
Sea
-
15,281
5,078—2,836,839
Deduct—
Received from Charl's, Ac_
1,393
6,649
Stock beginning of year—
Cross
Total Yield.
Crop of-
Increase
Upland
Decrease.
or
Overland.
Of Overland.
Bales.
—.
1909 10
190K 09
1907 08
1906 07
1905-06
1904-05
1903-04
1902-03
1901-02
1900-01
1899-00
1898-99
1897-98
1896-97
1895-96
1894-95
....
....
1893-94
.
Bales.
14.128,902
16,043,316
12,132,332
10,650,961
13,828,846
19112-13
lai 1-12....
191011
1,678,983
1,931,496
1,314,745
1,154,642
1,626,387
1,177,931
1,705,152
1,234,641
1,569,870
1,120,993
1,438,268
1,675,042
1,767,646
1,790,238
Decrease
11.94
Decrease
13.10
Increase
32.24
Increase
Increase
13.90
Increase
13.86
2,057,024
1,896,011
1,282,211
1,190,299
1,867,104
1,253,856
Total movement for year
46.95
11,581,329
13,550,760
11,319,860
13,556,841
10,125,176
10,758,326
10,701,453
10,425,141
9,439,559
11,235,383
11,180,960
8,714,011
7,162,473
9,892,766
7,527,211
Sea Island
.
Of Crop.
Per Cent,
Per Cent.
i
Decrease 22.98
*
are
The amounts
There
were
this season;
In
season
of'93-94 to'12-'13-
no
but 9,000 bales from the interior of Florida arrived at Savannah
Decrease 16.51
Increase 33.89
Decrease 21.35
Increase 40.07
Decrease
6.07
Decrease 22.06
Increase
0.53
Decrease 14.19
Increase
2.64
Decrease
5.49
Stock at close of year
Increase 10.44
Decrease
1.28
Deduct-—
Decrease 15.99
Decrease 12.98
Increase
Increase
by rail.
«
Decrease 30.96
0.48
38.11
7.83
Increase 47.90
Increase
7.72
Increase 28.31
Increase 21.66
Decrease 27.60
Increase 31.43
Decrease 36.25
Increase 48.64
Increase
12.06
Decrease
Increase
87.70
2.84
•
W
„
ALABAMA.
'
™
1912-13
„
Exported from Mobile:*
xpoi
To foreign ports
To coastwise ports*
Burnt.
usual methods—
First—Of
coimting each bale of cotton at the Southern
•outport where it first appears:
(Second—Of deducting from gross overland all cotton
-shipped by rail from Southern outports to the North.
Third—Of deducting also from overland any amounts
taken from Southern outports for Southern consumption.
Fourth—Of deducting likewise arrivals by railroads at
Jtfew York, Boston, Baltimore and Philadelphia, all of
which have been counted in the receipts from week to week
•during the year.
With these explanations, nothing further is needed to
make plain the following statement of the movement over¬
land for the year ending Aug. 311913.
8
-
4,120—•
Amount shipped*—
Via St. Louis
Via Cairo
-
bales.
—--
_
Via Rock Island
Via Louisville
Via Cincinnati
„
Via Virginia points---.
Via other routes
—
-
Total
gross
f
—--
Galveston, inland and local mills
I New Orleans, inland and local mills
Mobile, inland and local mills
Savannah, inland and local mills—
Charleston, inland and local mills
North Carolina ports, Inland A local mills
Virginia ports, inland and local mills
Total to be deducted
Leaving total net overland.a
1911-12.
668,030
289,382
8,458
173,553
126,428
187,880
477,765
1910-11.
525.625
216,298
26,032
131,381
80,270
173,659
161,480
1,678,983 1,931,496 1,314,745
overland---—-—
Deduct shipments—
Overland to New York, Boston, Sec
(
Between interior towns, &c
594,216
298,868
21,822
109,026
131,669
160,144
363,238
149,752
*137,509
18,484
38.646
11,787
34,505
169,319
*62,598
2,038
13,771
195,369
*107,313
21,967
23,692
9,699
31,608
2,061
4,228
7,296
406,811
403.233
304,433
319
Itec'ts from New Orl., Ac._
Stock beginning of year--
670
1,641—
.
1,641—
Total movement for year
385,585
2,311
472
874—
1,346
230.699
384,239
*
Under the head of coastwise shipments from Mobile are included 4,652
bales shipped inland by rail for consumption, Ac., which, with
consumption
are
deducted in the overland movement.
FLORIDA.
1912-13-
Exported from Pensacola.Ac.:
To foreign ports..
To coastwise ports
Stock at close of year
100
24,628
10,508
16,738
3,780
7,706
9,056
1,272,172 1,528,263 1,010,312
aJThis total includes shipments to Canada by rail, which during 1912-13
amounted to 135,897 bales, and are deducted in the statement of consump¬
tion.
* Includes foreign cotton consumed at the South.
-1911-12-
216,424
50,423
125,099
15,570
1,135—
—
141,804
■
—
266,847
Deduct—
Received from Mobile
200
350
Stock beginning of year
200
Total movement for year_
*
722
372—
141.604
266,125
These figures represent this year,
from the Florida outports.
&c., but
we
have followed
outports
where
it first
as heretofore, only the shipments
Florida cotton has also gone inland to Savannah,
counting that cotton at the
our usual custom of
appears.
MISSISSIPPI.
1912-13-
•1911-12-
Exported from Gulfport:
To foreign ports
To coastwise ports
64,802
"
64,802
*
Deduct—
Stock at
beginning of
year-
Total movement for year
64,802
SOUTH
CAROLINA.
1912-13
Exported from Charleston:
To foreign ports—Upland—
To foreign ports—Sea Island
-1911-12-
228,467
250,305
11
269
74,940
6,897
159,366
5,769
To coastwise ports—
Upland*
-
Sea Island
E:xported coastwise—
From Georgetown, Ac_-—
110
1,169
Stock at close of year—
1,157
1,922—
Upland
Sea Island
2,646
313,504
455—
3,101
1,444
1,353—
419,979
Deduct—
Received from Savannah, Ac.
Upland
Sea Island
Stock b
of year—
Upland—
2,646
Sea Island
455—
Total movement for year
"
233,010
.
,
Stock at close of year
t
292,309
91,635
Increase 33.90
determining this year the proportion of the crop for¬
by the different overland routes, we have followed
1912-13.
1911-12
143,148
85,734
warded
our
46,411
2,790,428
shipped inland and taken for consumption (34,505 bales)
Decrease 29.03
Increase 38.07
Increase
21,752
1,550,987
receipts at Savannah by water from the Florida outports
Increase
19.40
Decrease 14.53
Increase 20.41
35.377
4,385—
deducted in overland.
(7,135 bales)
Change from
15,281
5,078—
i
*
''
310,403
Included in this item are 319 bales, the amount taken by
and shipped to
interior, all of which is deducted in overland.,
2,797
417.182
local
mills
Sept. 6
NORTH CAROLINA.
Export Movement of Cotton Goods from United States.
1912-13
-1911-12-
give below a table compiled from the returns of ex¬
goods from the United States as reported
by the Bureau of Statistics.
These figures are for the last
three fiscal years and are presented in a form which enables
the reader to see at a glance the variations from year to year
in the volume of goods sent to the various quarters of the
globe.
It will be observed that the 1913 total, reaching
$53,743,977, is greater than that for 1912 by $2,974,466, and
is $12,892,059 larger than in 1911.
•
<
We
Exported from Wilmington:
To foreign ports
317,831
To coastwise ports*
19,273
Coastwise from Washington,Sec. 112,606
Manufactured
1,183
Stock at close of year
4,744—
502,426
45,159
163,011
ports of cotton
455,637
653
78—
78
252—
-
711,327
Deduct—
78—
Stock beginning of year...
Total movement for year_.
252
455,559
711.075
*
Of these shipments, 855 bales went inland by rail from Wilmington,
and, with local consumption, are deducted in overland.
VIRGINIA.
72,692
543,799
To coastwise ports.
Taken for manufacture
Stock end of year, Norfolk
Deduct—
Rec'd from
34,658
7,026
11,673—-
748,140
..
889.758
4,639.400
3,368,028
5,584,985
7,274,409
1,228,856
others- 32,528,973(125.525,982
54,163,558
80,461,847
Asia&O*ia.l09,862,169
East Indies 14,466,062
Rec'd from North Carolina.
112,606
Received at Newport News
from Norfolk..
China
27,744
163,011
13,756
All
128
Stock beginning of year
11,673—
2,616—
138,163
Total ..444,729,241
*
Includes 5,252 bales shipped to
taken for manufacture, are deducted
New
,
1911-12-
1912-13—
1,528,263
195,369
149.752
190-2—.
see,
*
1,723,632
1,421,924
&c.»
Except 87,156 bales deducted in overland, previously counted.
Total product detailed in the foregoing by States for
1
ending September 1 1913
Consumed in the South, not included
Total crop of the U. S. for year
Below
1911-12.
1910-11 i
1909-10
1908-09
9,439,559
11,235.383
11,180,960
1896-97..— 8,714,011
1895-96
7,162,473
1894-95
9,892,766
1893-94.-i— 7,527,211
1892-93
6,717,142
1891-92
9,038,707
1898-99
1897-98
_
....
Bales.
Years.
Bales.
10,701,453
10,425,141
14,128,902 1901-02
16,043,316 1900-01
12,132.332 1899-00
10.650,961
13,828,84 6
1907-08
11,581,829
1906-07
13,550.760
1905-06
11,319,860
1904-05
13,556,841
1903-04...—10,123,686
1902-03
10.758.326
;
ending Sept. 1 1913.._.bales.l4,128,902
Years.
Bales.
Years.
1912-13,
the year
bales. 11,149,024
2,979,878
give the total crop each year since 1880:
we
.
8,655,518
7.313,726
6,935,082
1887-88
7,017,707
1886-87-—— 6,513,623
1885-86
6,550,215
1884-85
5,669,021
1883-84
5,714,052
1882-83.—.. 6,992,234
1881-82— 5,435.845
1880-81
6,589,329
1890-91
1889-90.....
1888-89
Weight of Bales.
year
weight of bales and the gross weight of the
have made up as follows for this year, and give last
Year ending
September 1 1913.
Year ending
September 1 1912.
Movement
Number
Weight in
Avge.
Number
of Bales.
Pounds.
Wght.
of Bales.
4,990,912 2,684,012,655 537.78
755,078,846 525.47
1,436,959
230,699
122,526,548 531.11
860,733,301 508.53
1,692,591
154,270,291 497.00
310,403
299,736,598 491.39
609,977
224,399,252 492.58
455,559
4,401,802 2,226,343,416 505.78
Texas
Louisiana
-
Alabama
Georgla.a.-
South Carolina.
_
Virginia
North Carolina.
.
Tennessee, &c...
.
a
Avge.
Weight in
Wght.
Pounds, v
4,589,931 2,427,752,163 528.93
872,151,609 524.54
1,662,698
384,239
203,008,733 528.34
3,121,355 1,590,673,725 509.61
417,182
210,656,051 504.95
696,987
341,523,630 490.00
351,747,470 494.67
711,075
4,459,849 2,263,239,572 507.47
14,128,902 7,327,100,905 518.59 16,043,316 8,260,752,953 514.80
Total crop
Including Florida and Mississippi.
.
According to the foregoing, the average gross weight per
bale this season was 518.59 lbs., against 514.80 lbs. in
1912-13,or 3.79 lbs. more than last year.
Had, therefore,
only as many pounds been put into each bale as during the
previous season, the crop would have aggregated 14,232,890
bales.
The relation of the gross
years may
be
weights this year to previous
from the following comparison.
seen
Crop.
1908-09
1907-08
1906-07—
1905-06
1904-05
1903-04
No.
of Bales,
—
14,128,902
16,043,316
12,132,332
10.650,961
13,828,846
11,581,829
13,550,760
11,319,860
13,556.841
10,123,686
10,758.326
10.701,453
....
-
10,425.141
1'
—....
......
-
—
—
—
—-
1902-03.
1900-01
1899-00
1898-991897-981896-97
1895-96
1894-95
1893-94-.
—
1892-93
1891-92
1890-91
1889-90-
1888-891887-88
1886-87—
1885-86
1884-85
1883-84
1882-83
1881-82
1880-81
1879-80. *
1878-79
-
-
-
1877-78
Average
Weight,
Season of-
1912-13
1911-12
1910-11
—
planted in cotton last spring than in the
preceding season; all those who give the matter of acreage
any attention are in accord on that point and there is pretty
close agreement too as to the extent of the increase.
In¬
vestigation has also quite clearly demonstrated that particu¬
lar attention has been given in many localities to intensive
cultivation rather than increased planting, the expectation-^
and that a reasonable one— being to secure a larger yield by
the freer use of fertilizers.
This latter feature of the current
situation we referred to briefly in our June Acreage Report,
as many of our returns laid considerable stress upon it as a
comparatively recent development at the South.
In our
Acreage Report we also indicated that the condition of the
plant at that time was fully up to the average of recent years
and inferentially, therefore, better than at the same time in
1912.
During July the crop did well as a whole.
In the South¬
dry weather apparently caused a moderate deteriora¬
tion, but in Atlantic sections and in Arkansas, Tennessee and
brought about an actual im¬
according to the report of the De¬
partment of Agriculture.
The general status of the crop
July 25, in fact, was given as better than a year earlier and
practically the same as the average for the ten-year period.
Early in August beneficial rains were reported in some
portions of the Southwest, but there was a quite general lack
California
a
propitious
season
provement in conditions,
for comparison.
Through—
greater area was
west
The average
crop we
and its Marketing.
speak with any degree of certainty
at this early date of the cotton crop now maturing, future
conditions of weather being far too important to be lightly
dismissed from consideration.
The known fact is that a
Total marketed from Tennes'*
of clothing, yarn, waste, &c."
It is not given to us to
Boston, &c.,
York,
$
1,067,382
10,365,474
' 998,376
37,248,759 2,246,989
65,277,418 4,446,934
47,205,029
3,253,012
80,739,542 5,293,394
69,661,765 4,734,846
9,297,286
767,356
18,148,037dl8,043,629
53,743,977 476,778,499 50,769,511 346,590,169 40,851,918
d Includes values of exports
New Crop
To manufacturers direct—net
overland
1,272,172
by rail
Total value.
Yards.
18,646,859
696,987
the interior, which, with 8,519 bales
in overland.
TENNESSEE, &c.
Shipments—
,
*
—
192,771
609,977
Total movement for year
To
37,139,185 2,026,394
19,291,438
1,721,704
45,861,572 2,661,860
86,231,545
5,517,297
53,037,292
3,236,623
108,415,469
7,371,958
83,948,474
5,433,875
13,055,990
1,015,789
29,797,534d21,784,011
1,433,940
2,507,341
2,181,036
■
$
Yards.
$
Yards.
24,690,495
Canada
27,121,528
Cent. Am. 34,047,620
W. Indies- 67,386,989
So. Amer.
Wilmington, &c.
Total value.
Total value.
ing June 30.
Arabia...
—1911
1912
1913
Years end
To—
291
114,685
9,302
7,371—
'
EXPORTS OF COTTON MANUFACTURES.
-1911-1221,267
815,134
-1912-13x
—
Exported from Norfolk:
To foreign ports
To coastwise ports*
Exp. from Newport News, &c.:
To foreign ports..
635
CHRONICLE
THE
1913.]
...
9,439,559
11,235,383
11,180,960
8.714,011
7,162,473
9,892,766
7,527,211
6,717,142
9,038,707
8,655,518
7,313,726
6,935.082
7.017.707
6,513.623
6,550,215
5,669,021
5,714,052
6,992,234
5,435,845
6,589,329
5.757,397
5,073,531
4,811,265
i
Weight, Pounds.
7,327,100,905
8,260,752,953
6,217,382,145
5,400,008,818
7,115,746.869
5,907,070,895
6,984,842,670
5.788,728,073
6,996,731,233
5,141,417,938
5,471,143,917
5,403.210,514
5,319,314.434
4,754,629,038
5,765,320,339
5,667,372,051
4,383,819,971
3,595,775.534
5,019,439,687
3,748,422,352
3,357,588,631
4,508,324,405
4,326,400,045
3,628,520,834
3,437,408,499
3,406,068,167
3,165,745,081
3,179,456,091
2,727,967,317
2,759,047,941
3,430,546,794
2,585,686.378
3,201,546,730
2,772,448,480
2,400,205,525
2,309,908,907
per
bale.
518.59
514.80
512.46
507.00
514.56
510.03
515.46
511.37
516.10
507.86
508.55
504.90
510.25
503.69
513.14
506.88
503.08
502.03
507.38
of
in
rain
Later
Central
there
on
were
and
Southern
and
Oklahoma.
high temperature in the States named, these becoming
insistent as the month closed.
There was also some
and
more
complaint that rain was needed in sections of Alabama,
Mississippi, Louisiana and Arkansas.
<
■
In Atlantic districts, on the other hand, with ample
moisture and favorable temperature, conditions seem to
have been well maintained during August.
There is, of
course, a tendency to exaggerate the damage done by adverse
weather, but there is no reason to doubt that the excellent
promise of the early season in the Southwest has been very
noticeably marred.
Elsewhere, on the whole, the current
outlook is for a fair to good yield from the area planted, with
the date of killing frost a prime factor in determining the
ultimate result.
The possibilities of yield range all the way
from 10 to nearly 18 million bales on the basis of the return
per acre in earlier years.
To estimate now would be folly,
for, as already intimated, the earliness or lateness of killing
frost is too important a factor to be ignored.
This much,
however, it seems safe enough to say, namely that drought
has impaired prospects in the Southwest and in the States
bordering on the Mississippi River and that a full yield
from that part of the area seems decidedly unlikely.
The data given below, considered in conjunction with the
remarks above, should enable each reader to formulate for
himself some idea as to the crop promise, making due allow¬
•
ance
as
season progresses^ for developments as they may
The subjoined compilation shows at a glance for a
the
occur.
and product per acre
percentages Aug. 25
reported by the Department of Agriculture.
series of years the area, aggregate yield
as made up by us, and the condition
as
Product
497.98
Area,
499.85
498.78
499.84
496.13
495.66
485.35
486.02
485.40
481.21
482.86
490.60
475.62
485.88
481.55
473.08
480.15
Texas
reports of damage by continued drought
Acres.
.38,573,441
37,377,276
37,581,022
35.379,358
33,862,406
33,512,112
.33,079,425
31,557,242
28,808,415
32,363,690
28,995,784
1913-14
1912-13
1911-12
1910-11
1909-10
1908-09
1907-08.
1906-07
1905-06
1904-05...
1903-04.
1902-03
.
As
we
-
-.27,300,371
,
Yield,
per Acre.
Condition
Bales.
Pounds.
Aug. 25.
---
14,128,902
16,043.316
12,132,332
10,650,961
13.828,846
11,581,829
13.550,760
11,319;860
13,556,841
10,123,686
10,758,326
186
209
168
153
203
170
211
192
207
170
192
68.2
74.8
72 3
72.1
63.7
76.1
72.7
77.3
72.1
84.1
,81.2
64.0
bearing upon the comparative maturity of the plant,
give our usual statement of the dates of arrival of
now
636
THE
CHRONICLE
first bales.
This year the earliest receipt was at Houston,
July 10.
Last year the first bale arrived at
Houston on July 2 and in 1911 the same
city received the
earliest bale—on June 11.
In fact, for many years past the
first bales have
invariably been of Texas growth.
Texas,
[Vol.
The distribution of the
crop has been
on
How
Sept. 1 1913.
Distributed.
of—
Stock
of Receipt
of First
1912.
Bale.
South Carolina
1907.
1908.
1909.
1910.
1912.
1911.
,
1913.
,
Nor.
New York
Aug. 30 Aug.
7 Aug.
Car.—
Charlotte
So.
Car.—
Charleston
17 Aug. 25 Aug.
Aug. 20 Aug. 14
Aug.
8 Aug.
Aug.
2 Aug.
Aug. 11 Aug.
Aug.
Aug.
Ga._ July 23 July
From Fla.. Aug. 19 Aug.
Columbus
July 27 Aug.
7 Aug.
Aug.
4
Aug.
July
Aug.
Aug.
July 31 July 29
Aug. 12 Aug. 15
2 Aug. 22
Aug.
3 Aug.
Aug. 21 Aug.
7 Aug.
3 Aug. 16 Aug.
Aug. 21 Aug.
Aug. 20 Aug. 11 Aug. 12 Aug.
Aug.
July
Aug.
Aug.
Aug.
Aug.
Aug.
From
Alabama—
Montgomery
_
Mobile
'Selma
1
Louisiana—
New Orleans—
5,533 66,256
1
iwivguiug
Aug.
Aug.
7 Aug
Aug.
10 Aug.
19 Aug.
Aug.
Aug. 22 Aug.
Aug. 24 Aug.
Aug.
Aug. 21 Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug. 19 Aug.
Aug. 19 Aug.
July
June
June
June
June
July
June
June
July
June
June 21 Aug.
__
12
Aug. 22
Aug. 11
Aug. 13
July
July
June
14
Aug.
The
sense a
1908.
1909.
1910.
1
1
1
428
9
a200
99
415
30
al ,000
3,036
23,792
329
1,741
14,174
a 50
a200
60
36
2,250
773
1,139
1912-13
20,780
333
a50
175
,
97
90
320
150
265
a300
2,372
16,653
100
239
1,140
4,600
898
a 200
a 200
23,609
1,663
2,031
2
1911-12
60,902
1910-11
35,190
1909-10
39,261
42,126
41,863
23,411
30,378
37,873
28,005
27,686
21,323
24,793
1908-09
1907-08
1906-07
1905-06
1904-05
1903-04
1902-03
1901-02
1900-01
*
100
1
1
1
10
4
4
100
"~2
2
a
21
5
a
Sept. 1__
2
2
10
5
30
13
28,501
89,441
45,425 125,923 208,448 214,379 213,673
31,381 110,878
74,970 134,019 277,914 220,352 238,970
no returns received,
Sea Island
2
~"~3
~~14
compilation of
on
a
season
of 1912-13 the
weekly record of the Sea Island
crop;
but
large decrease from that of 1911-12.
FLORIDA.
Receipts at Savannah..bales. 9,000
Receipts at Jacksonville
11,780
1912-13-— -r—1911-1213,147
47,755
...
Total Sea Island crop of Florida
20,780
60,902
GEORGIA.
-1912-13-
-1911-1263,105
Receipts at Savannah..bales.38,578
Receipts at Brunswick
Sent interior mills*
Deduct—
899
7,568—46,146
6,146—70,150
Receipts from Florida
9,000
Receipts from Charleston, &c.
45— 9,045
13,147
179—13,326
37,101
SOUTH
36,824
CAROLINA.
1912-13—
Receipts at Charleston...
Receipts at Beaufort, &c
8,375
Deduct—•
•
1911-12-
5,140
8,375
—
Total Sea Island
crop of U. S.
*
8,375
5,140
66,256
122,866
Froin special investigations we find that
Southern mills have consumed
10.624 bales of Sea Island cotton this
season, of which 3,056 bales were
received from Savannah.
Britain.
nent.
ports.
66,256
122,866
89,601
96,539
102,469
8,528
19,667
16,505
24,744
85,191
22,748
15,200
30,034
30,832
24,188
44,354
25,423
56,108
116,962
99,663
76,709
102,634
78,621
86,115
Cotton and
To complete the record
We
begin
we
by
4,667
7,816
6,420
4,684
7,567
9,635
5,289
9,228
18,241
13,195
27,483
22,925
29,428
25,808
32,383
20,489
39,262
38,402
31,320
54,082
31,873
31,988
7,570
7,132
9,728
6,450
5,535
26,453
Cotton
United
42,955
95,588
62,825
67,562
77,544
50,300
36,101
78,923
62,556
43,578
50,524
43,650
55,422
States
Goods.
subjoin compilations covering
showing
a
series of
the
Low.
Cts.
3.62
,...4.00
3.12
-
1909-10..
1908-09...
1907-08
1906-07
1905-06...—...
3.62
1898-99
5.25
3.00
3.38
3.37
2.62
3.00
1897-98
1896-97
3.81
3.50
1903-04
4.12
1895-96
1894-95..:
1893-94
-
;
2.37
2.37
3.50
1899-00—,
3.00
-
Cts.
3.00
.3.25
3.50
3.62
-
3.37
3.25
4.25
3.88
Low.
Cts.
1902-03
1901-02....
1900-01
.5.25
1911-12...1910-11
High.
.
Cts.
4.06
1912-13
2.75
1.94
—2.75
2.62
2.62
.3.06
2.88
3.00
1.94
2.44
2.44
2.50
2.61
The
foregoing does not call for special comment, as refer¬
ence has already been made to the subject.
It will be ob¬
served that printing cloths have averaged higher in value
than in 1911-12, but cotton has also ruled higher, the average
Only a slightly greater margin of profit to the
manufacturer of goods accrued in 1912-13 than in 1911-12.
As regards the raw material, the season opened with
middling uplands in the New York market ruling at about
the same level as at the commencement of the preceding
cotton year, but later developments carried prices to a higher
plane, so that on the whole the general basis of values was
appreciably better than for 1911-12.
The controlling factor
in the situation was, of course, the conviction arrived at
early that the yield of cotton would be quite materially
less than the record-breaking crop of 1911-12, and the prac¬
tical assurance that, with consumption steadily increasing,
the year's growth would at least be fully absorbed,and that
probably there would be some encroachment upon pre¬
viously accumulated stocks.
At New York the opening
quotation for middling uplands was 11.50c., from which
level there was an advance to 11.95c. by Sept. 13, but by
the end of the month the price had receded to 11.45c. The de¬
cline continued until Oct. 15, when 10.75c. was reached; but a
rise then set in that carried the quotation to 11.70c. at the
October.
Frequent fluctuations during November
further advance, the opening price having been
11.75c. and the closing 13.10c., the highest of the month. The
netted
a
Department of Agriculture's estimate of the crop, forecasting
production of some 14 million bales, or more than 2 million
bales less than in the previous season, was an unimportant in¬
fluence in the market during December after the rise that had
already taken place.
In fact, middling uplands, which
started the month at 12.85c., dropped later to 12.75c. and
closed at 13.20c .* or only 10 points higher than it ruled at the
end of November.
The year 1913 began with middling
uplands ruling at 13.40c., from which point there was a downa
5,140
Receipts from Savannah
Total Sea Island
crop of So. Car.
Ex¬
the prices of printing cloths and raw cotton for
close of
Total Sea Island
crop of Georgia
Conti¬
een
of other matters upon our columns
haye been unable to publish the statement.
The results as
now given below
agree in all essential particulars with our
running count.
It will be noticed that the crop of 1912-13
a
of
Con¬
sump¬
tion *
Great
season..
Crop and Consumption.
account of the pressure
shows
Total.
Erice about 12.28 cents, against 10.83 cents for the preceding
for middling uplands in the New York market having
t Athens, Ga.
We have continued throughout the
&c.
8,375
5,140
13,338
14,497
15,172
12,738
8,044
13,712
12,094
9,359
12,497
8,760
8,369
1904-05.
2
Total ali ports
to
Texas
The column of "American Consumption" includes burnt in the
Prices
138
1,600
20
Ameri¬
Total
lina.
220
100
a
and movement
1912-13 in detail:
Foreign Exports.
High.
4
550
30
....
1913.
4,954
•
crops
to
highest and lowest
quotations for 64 squares 28-inch printing cloths at Fall River
in each of the last twenty-six seasons—1893-94 to 1912-13
inclusive.
Data for earlier years will be found in
previous
73
alOO
250
300
,
1900-01
issues of this report.
1,433
4,578
33,412
1,541
2,500
2,234
355
270
a200
1,443
1
1912.
seasons
Caro¬
37,101
56,824
41,073
42,781
45,171
30,590
24,653
72,872
49,696
39,345
62,451
48,588
52,953
alO
400
a 500
Georgia
ida.
24
98
40
Ala
SelmaAla
Eufauia, Ala
New Orleans, La.
Shreveport, La
Vieksburg, Miss.
Columbus. Miss.
Little Rock, Ark.
Memphis, Term.
Galveston, Tex.
1911.
3
42,955
South
years.
1
-bales. 13.195
can
conclusive indicator
ARRIVALS OF NEW COTTON TO SEPTEMBER 1.
Estimated;
5,533
bales.71,789
Crop.
Season.
Flor¬
in 1907.
1907.
oea
bales.66,256
i
following useful table shows the
14
judge of the earliness or lateness of the crop as
compared with other years.
The heaviest movement of
new cotton this
year has been, as is usual, to Galveston
(213,673 bales), high temperature forcing maturity in
Southern sections of the State of
Texas, and Savannah has
received 16,653 bales.
The total receipts at the points
included in the subjoined compilation were 238,970
bales,
against 220,352 bales in the previous year, 277,914 (the
heaviest total on record) ,in 1911, 134,019 bales in
1910,
74,970 bales in 1909, 110,878 bales in 1908 and 31,381 bales
Charlotte, N. O.
Wilm'ton, N. C_
Charleston, S. O.
Augusta, Ga
Savannah, Ga._
Columbus, Ga__
Montgomery, Ala
or
15,639—28,834
12
10
which to
a
gruwm
as
of Sea Island for the
as has frequently been demonstrated in the
The aggregate arrivals of new cotton to September
the other hand, do, as a rule, furnish a fair basis from
Mobile,
tuucu
746
4,667 13,195
We thus reach the conclusion that our
spinners have taken
of Sea Island cotton this year
only 42,955 bales, or 42,633
bales less than in the previous
maturity,
on
8,528
Leaving for consumption in United States
Aug. 15
July
First bales, however, are in no
July
July
8
Monroe City.
1st,
802
,
year.
Oklahoma—
past.
lxio
follows—
Exported to foreign ports
Aug. 18 Aug. 27
Aug. 31
Ardmore
Missouri—
of
uuau
This year's crop .
Stock September 1 1912.
Aug. 22 Aug. 14 Aug. 19 Aug. 25 Aug. 19 Aug. 22 Aug. 13
Galveston
Houston
dod
Stock end of year
Aug.
Aug.
Aug. 31 Aug.
6",110
145
beginning of the year
the total supply and distribution:
Aug.
1
Aug. 10
Aug.
6
8 July 31 July
5 Aug.
Aug.
5,526
bales, and with the stock at the
(5,533 bales) we have the following as
Tennessee—
Texas—
yyu
71,789 15,63956,150
Island this year is 66,256
Distributed
From M.Val
Memphis
4", 165
601
Total year's supply
Shreveport
Aug.
Mississippi—
Vieksburg
Aug.
Columbus
Greenville
ArkansasLittle Rock..
Helena
5 Aug.
11
"357
802
Aug. 14 Aug. 14
Savannah—
ports.
11
5,169
&c
Total..
Aug. 23 Aug.
Ex¬
Great Havre,
trib'n. Brit'n.
&c.
1913.
Aug. 28
...
9 Aug.
Oeorgia—
Augusta
Crop. supply
Total
For'gn
Leav'g
Sept. 1 fordis-
Boston
Baltimore,
Aug. 30 Aug. 15 Aug. 28
Total
l",945
Florida
Norfolk
Net
455
8,375 8,830
1,922
6,908
5,078 37,101 42,179 13,717
28,462
20,780 20,780
20,780
Georgia
Virginia—
-
Of which
Exported to—
Stock
Sept. 1
Date
follows:
as
Supply Year Ending
Ports
xcvii.
,
Sept. 6
ward movement to 12.85c.
by the 23d,
by the 28th, with the close 13.05c.
The February price
movement was towards a slightly lower level, but part of
the loss was recovered, as, after opening at 13c., and advancing
to 13.05c. on the 10th, there was a recession to 12.50c. by
the 20th and a rise to 12.70e. by the 28th.
March trading
made no important impression on the value of cotton, the
range of prices being between 12.40c. and 12.90c., with
12.70c. and 12.60c., respectively, the opening and closing
April witnessed a considerable
quotations.
Movement of Cotton at Interior Ports.
13.15c.
a recovery to
Below
quotation
which there
the
(12.60c.)
of each year.
decline; the
but
Alabama
Helena, Arkansas
Little Rock, Arkansas..
Selma,
Athens, Georgia
on acre¬
drop to 12.25c. on the 7th.
The opening quotation again
ruled from the 18th to the 23d inclusive, but by the 26th
there was a decline to 11.95c.; a recovery of 15 points
accrued by the 29th, but most of this was immediately lost,
the close having been at 12o. The first of August brought the
Agricultural Department report for July 25 and as it was
less favorable than anticipated, it served to stiffen prices
slightly, middling uplands being quoted at 12.10c. on that
day. The advance was lost on the 2nd, however, and there
was a further drop to
11.90c. on the 14th.
The market
moved up to 12c. on the 16th and later on drought reports
from the Southwest stimulated an advance that carried the
the
season.
The following day
decline to 12.50c., which was the final price of
The low for middling uplands at New York
during the season was 10.75c. (Oct. 15 to 17 inclusive) and the
high 13.40c.^ (Jan. 2), with the average 12.30c., or 1.47c.
higher than that for 1911-12 and 2.25c. and 2.67c. respec¬
tively lower than 1910-11 and 1909-1910. To indicate how
the prices for 1912-13 compare with those for earlier years,
we have compiled
from our records the following, which
shows the highest, lowest and average prices of middling
uplands in the New York market for each season:
Low.
High,
Average.
Low.,
High.
1912-13.
1911-12
1909-10.
1908-09
10J5
12*30
1898-99.
13.40
9.20
10.83
1897-98.
16.15
11.60
14.55
1896-97.
19.75
12.40
14.97
1895-96.
9.00
10.42
1894-95.
9.50
11.28
1893-94.
1892-93.
_.13C40
—
.
1910-11.
—
—
.
—
.
—
13.15
<
1907-08
13.55
1906-07. ..13.55
9.60
11.48
12.60
9.85
11.20
11.50
6.85
9.13
9.60
12.58
10.26
7%
-
—
1904-05.
—
1903-04.
1902-03
1901-02
1900-01
1899-00
—
—
.
17.25
13.50
—
.
k
5
8
1885-86.
9ig
_
.12S<
.llh
Dallas, Texas
Honey Grove, Texas
Houston, Texas
Paris, Texas
year's figures are for
Last
following
reviews, and
In the first table given in
TOTAL EXPORTS OF COTTON TO
319,086
43,387
Belfast-
1
.
Port Arthur.......
Texas City,
&c
Mobile
Pensacola, <kc
Savannah
Brunswick
...
Charleston..
Wilmington
Norfolk
News
Newport
New York
Boston
—
...
117,932
55,948
Baltimore
Philadelphia
Portland, Me
1
48,672
v
Tacoma
Portland, Ore..:..
Pembina
fe Total
,
152,971
772,098
403,209
36,641
298,595
6,739
15,981
21,267
459", 197
738,260
107.162
128,474
109,751
69,531
62,858
751,740
110,267
119,584
68,077
796
427
669
691,943
187,906
130,266
92,077
6,829
211,778
153,884
59,843
125,099
836,187
211,819
•
91,582
115,860
228,478
317,831
72,692
901
"
57,717
82,528
60,169
84,555
71,805
30,896
San Francisco
Seattle
Detroit,
156,937
281,226
158,217
912,461 1,786,574
372,824
188,028
250,574
126,083
502,426
383,112
189,487
68,564
45,379
10,556
29,338
4,404
1,050
300
200
100
128,759
110,772
<
640,520
159,539
84,512
62,360
507
262,917
104,506
600
—
11,876
1
500
3,716
135",174
153.771
135",897
from U,* S._. 7.583,078 8.582,078 6,326,998 7,758,624
10696 084
8,795,673
Ac...—.
105"448
773
68,409
143,413
37,689
44,732
102,469
105,680
20,038
38,520
29,908
669,318
24,182
279,186
163
4,137
1,586
845
746
1,908
6,198
249,031
30,200
20,136
814,358
8,372
24,280
43,837
131,959
45,192
3,326,798
151,141
21,067
19
668,030
11,062
491
1,162
'"2",738
34,032
583
14,635
685
959
520
1.287
47
83
704
1,926
756
295
323
3,937
24.176
11,103
"""654
885
6
274,360
11,113
16,336
985,594
13,487
25,676
19,583
17,173
969,670
11,695
24,794
54,811
54,763
98,650
98,778
50,711
50,665
3,257,174 3,250,777
166,359
166,055
,
8,074,939 8,078,340
90
1,482
4,343
2
614
2
128
55
36,680
3
97,036
50,567
5,543
"4",975
""750
.
608,549
Dunkirk
63,269
506,835
77,795
1,150
1,000
3,531
16,445
171,583
17,139
.
Total.
500
136",441
50,761
4,363
5l",992
425
3,701
14,888
328,145 3,066,034
471,263
42,380
74,446
10,518
4,549
1,323
69,230 1,001,005
7,674
"~~371
634
30
30
Bordeaux
_
Hamburg
Warburg
55", 449
59,673
263
Marseilles
Bremen.
573
144,335
7.306
976,742
98,179
Havre
.
Stockh'lm
Rotterd'm
36,370
Antwerp
74,901
63,153
Ghent
k
W'm'n. [Norf'k N.York Oth. Ports
Orl
.
...
1,719
32,953
7,152
63,753
600
Christ'na.
"""300
'""250
350
Gothenb'g
7,473
1,900
210
310
100
100
Copenh'n
320,596 2,214,863
209,633
5,005
1,150
1,00a
48,827 *
3,077
140,681
1,494
1,000
11,398
2,120
7,200
4,350
3,900
2,025
-4-
2",120
Libau
Reval. j.-
"7.266
St. Pet'b'g
4,350
.
3,900
Norrk'p'g
950
950
.1,300
1,194
1,300
1,194
50
50
__
900
1,580
680
__
600
600
166,554
8,285
5,100
276,691
83,523
23,917
10,478
429,238
25,866
39,864
1,700
10,250
99,848
47,644
49,108
*
200
600
167",632
24,252
8,958
"5",450
5,322
10,984
10,352
5,949
1,700
_
50
""~50
200
200
37,347
3,351
200
600
138,031
1,550
19,507
<•
399
25,200
.1,900
'
6,715
2,200
600
8,051
362",024
374,924
8.062
416
416
—
"""360
Japan
500
China
Phll'pines
1
12,600
2,799
.r,--*r-
15,373
..
Pt. Bar'os
675
.
;
.610
610
*269
269
,146
146
Cartagena
Colombia
37
37
20
20
-U'jJJ.
Cape To'n
Canada:.
675
3,355
25,332
600
/f 9,459
1
Colon
4,763
"2", 605
"""756
India
Mexico
>
146,562
146,556
4,055,3271,048,0061,350,3271317,831 72,983 640,5201,310,679
8,795,673
4
1913.
'
921,197
283,026
82,969
740
4,549
Glasgow
lor Year ending Aug. 31—
2,300.170 3,149,835 2,106,057 2,428.899 3,108,889 3,216,704
199,867
138,642
206,943
142,381
108,500
153,234
591,186
699,981
313,178
17,136
3,192
42,078
292,309
143,148
184,878
155.161
259.697
306,963
173,213
892.081
175,915
44,518
492,830
40,535
1,636
631,493
84,525
71,092
3,320
Hull
Bergen...
1,870,709 1,957,472 1,193,922 1,513,023 1,600,625 1,350,327
New Orleans
Galveston
5,950
637,162 106,043 16,448 328,265
16,542
49,868
23,879
Syra
1912.
278,745
550,781
present a statement of the year's ex¬
London..
Piraeus
1911.
1910.
334
4
179,836
278,332
539,305
84,407
70.175
68,117
143,132
37,687
49,145
102,965
104,595
20,052
40,822
35,749
180,713
289
h
Manch'er
Total..
1909.
1908.
2,867
'
330
d
202,890
Trieste...
From—
900
358
71,339
211,198
34,623
comparison as to the extent of the total move¬
be made with back years.
.,447,081
8%
FOREIGN PORTS FOR SIX YEARS
102
4,338
145,676
Louisville, Ky.
we
Liverpool.
9ig
Exports (bales) to Foreign Ports
a
a
Leghorn
each port to Great Britain,
France and other ports, stated separately, as well as the
totals to all ports.
In the folio wing we give the total for¬
eign exports for six years for comparison,
1.946
20,921
594,216
11,718
Galveston. Savannah New
Venice
this report will be found the
196;077
ment at each port can
Naples
foreign exports the past year from
197,015
144,828
70,588
211,717
34,297
from each port, showing direction shipments have
taken.
Similar statements hav been given in all previous
Flume
/
245
4,605
1,547
ports
Genoa
1
25,028
7,252,220 7,235,662 113,504
Total, 33 towns
In the
25,224
162
59,467
18,396
28,941
Stock
1,007
27,726
49,358
8,861
24,828
43,835
134,569
45,137
3,324,150
151,138
Oxelsund.
9X
Exports.
Sept. 1 1912.
Receipts. Shipm'ts.
1,759
1,647
104,436
19,308
821,077
Memphis, Tennessee
Nashville, Tennessee
Brenham, Texas...
Clarksville, Texas
Gljon
95g
.10U
Year ending
1913.
Stock
50,973
141,067
30,200
Hugo, Oklahoma *
Greenwood, So. Carolina
•
20,945
160,354
120,810
41,875
180,350
25,512
107,337
165,787
350,333
t
72,766
37,070
596,477
11,731
250,515
Ohio
Cincinnati,
Barcelona
7%
1014
1886-87.
6U
-10U
.
&
32
1887-88.
.
Louisiana.
Columbus, Mississippi..
Greenville, Mississippi._
Greenwood, MississippiMeridian, Mississippi
Natchez, Mississippi
Vlcksburg, Mississippi..
Yazoo City, Mississippi.
St. Louis, Missouri
Raleigh, North Carolina.
Lisbon.
67g
1890-91.
9%
7%
97g
.12
.
Rome, Georgia
Shreveport,
Oporto.
1891-92.
>'
Macon, Georgia
Uddevalle
.10
1888-89.
1906-06.
'
Gefle
87g
9%
.
Augusta, Georgia
Columbus, Georgia
Malmo
6/4*
6*4
65g
-
1889-90.
8.30
.
Atlanta, Georgia
Riga
c.
c.
Georgia
Albany,
a
tnere was a
Alabama.
Montgomery,
were
quotations up to 12.70c. on the 28th.
Shipm'ts.
21,707
163,013
121,999
41,643
181,821
25,639
106,782
165,493
341,648
75,501
36,851
62,212
141,427
27,841
49,438
107,869
59,127
18,485
29,392
22,506
Eufaula, Alabama
without mentionable influence as market factors.
On the other hand, however, there were complaints of adverse
conditions, which stimulated a moderate advance. Opening
at 11.80c. middling uplands rose to 12.40c. by the 17th.
From this level there was a recession to 11.35c. by the 19th
and a rise to 12.50c. by the 20th.
Subsequent fluctuations
covered a net drop of 10 points, the close having been at
12.40o. The report of the Department of Agriculture, issued
on the 3d of July, was no more than a negligible factor.
It
indicated, as expected, a better condition of the plant than
at the corresponding time a year earlier and a moderate
increase in
the area devoted to the crop.
For July
the opening price for middling uplands was 12.40c., from
which level there was an advance to 12.45c. on the 2d and
they
the first of September
on
...
Year ending Sept. I
issued by private parties indicated an increased planting,
as such an outcome was in line with general expectations
age
the stock
„
Receipts.
was
Various reports
,
Towns.
was a
of the market in June.
course
give the total receipts and shipments of cotton
we
interior ports and
at the
the best of the month, from
steady drop until 11.70c. was reached on
the 28th, and the later net gain was merely 10 points, or to
11.80c.
May was a month of comparatively unimportant
fluctuations, as, after opening at 11.95c., middling uplands
dropped to 11.85c. on the 2d, advanced to 12.10c. by the
12th, lost 10 points on thei 14th, regained it on the 22d and
later eased off and closed at 11.80o.; net unchanged from April
30.
Crop advices were to some extent effective in shaping
first
637
CHRONICLE
THE
1913.]
31,480 bales; to Havre, 27,949;; to
_a Includes from Port Arthur to Liverpool,
Bremen, 76,430; to Hamburg, 2,783.
From Texas
City to Liverpool, 406,308 baies;
Mexico, 10.034.
From Aransas Pass
Bremen, 5,045 bales. From
Corpus Christi to Mexico, 4,514 bales.
From Port Nogales to Mexico, 325 bales,
d Includes from Brunswick to Liverpool, 101,418 bales; to Manchester, 10,073; to
Bremen, 100,118; to Hamburg, 210.
h Includes 291 bales from Newport News to
Glasgow,
k "Other ports" include from Pensacola to Liverpool, 24,144 bales; to
Havre, 34,791; to Bremen, 64,814; to Barcelona, 1,000; to Trieste, 350.
From Mo¬
bile to Liverpool, 49,714 bales; to Manchester, 10,750; to Havre, 25,562; to Bremen,
53,859; to Hamburg, 3,263.
From Charleston to Liverpool, 73,367 bales; to Havre,
5,000; to Bremen, 132,961; to Rotterdam, 2,450; to Barcelona, 3,900; to Trieste,
9,900; to Flume, 600; to Genoa, 300.
From Boston to Liverpool, 136,810 bales; to
Manchester, 11,804; to Genoa, 3,700; to Hamburg, 250; to St. John, &c., 6,975.
From Baltimore to Liverpool, 9,675 bales; to Havre, 3,877; to Bremen, 68,962; to
Hamburg, 998; to Antwerp, 400; to Rotterdam, 400; to Copenhagen, 200.
From
Philadelphia to Liverpool, 33,928 bales; to Manchester, 19,826; to Hamburg, 494;
to Rotterdam, 227; to Antwerp, 1,094; to Copenhagen, 10 ;to Genoa, 6,478; to Bar¬
celona, 200; to Christiana, 100; to Canada, 3.
From Portland, Me., to Liverpool,
507 bales.
From San Francisco to Japan, 257,578 bales; to China, 4,664; to Manila,
675.
From Port Townsend to Japan, 100,730 bales; to China, 99; to Canada,
to Havre,
146,793; to Bremen, 78,186; to
to Liverpool,
3,677.
&c., to
20,884 bales; to Havre, 27,892 bales; to
From Portland, Ore., to Japan,
Canada, 135,897 bales.
371 bales.
From Port Huron, Detroit,
f
.
638
THE
THE INTERNATIONAL
CHRONICLE
HARVESTER COMPANY NOT
A
$50,000.
[Vol.
The last preceding transfer
The following letter is
our
TRUST.
enumerating
half-year,
millions
We
we
use, or
misuse,
more
the result of
as
division
a
thing
as
a
70
concerns,
of
We did not, of course, mean
such
was
in
important listings of the
the
the Har¬
to intimate
Harvester Trust, and it
intended that the word "Trust" should be put in
quo¬
tation marks, to indicate
that, purely for convenience sake,
was
we
had adopted a designation which has become
discussions.
current
common
in
We
print the letter because of the
striking facts it embodies with reference to the Harvester
Company,
though
even
claims any desire for
INTERNATIONAL
correspondent expressly
our
dis¬
publicity.
HARVESTER
COMPANY
OF
NEW
JERSEY.
My dear Sir—In your issue of Aug. 2, at page 269, in your
editorial "Listings on the New York Stock Exchange,"
&c.,
I note with some regret that you refer to the International
irresponsible
the ''Harvester Trust."
sources,
this company has
grown
quite
accustomed to the frequent use of the epithet "trust," but
it is difficult to become reconciled to its use
responsi¬
applied to
business because it is big is mischievous and
harmful; and
in this case it amounts to a
prejudgment of the findings of
the Court.
There is now pending in the United States
courts a proceeding wherein several thousand
pages of tes¬
timony have been introduced to prove and to disprove the
charge that this company is a M trust," and until the court of
last resort shall have decided the
question, we feel that at
least responsible men should reserve their
judgment and omit
the epithet in reference to this
company.
The word "trust",
when applied to an institution, carries with it the
imputa¬
tion of monopolistic and
wrongful practices toward competi¬
among
ble
The loose
men.
of
use
the
word
tors and consumers.
As
"trust"
«
defendant
in a "trust" suit, the International Har¬
Company pursued the unheard-of course of summoning
over twelve hundred local
implement dealers, farmers and
manufacturing and selling competitors to inform the Court
as to the
precise methods and practices of the company dur¬
ing the ten jrears of its existence.
The number could have
been readily increased by a thousand or more
farmers.
The
company placed its reputation
and honorable practices in the
for fairness and for lawful
hands of the "oppressed"
from Kansas, Nebraska, the
Dakotas, Missouri, Iowa and
elsewhere.
Their testimony stands on the record unchal¬
lenged.
It disproves
material falsehood that has been
circulated concerning the methods and
practices of this com¬
pany, and constitutes the final word upon that
subject.
So far
never
as our
had any
Not for
a
every
practices
the record is very clear.
We have
quarrel with our patrons or our rivals.
go,
moment do
slurring
sense, or
to the
company.
I believe the word
used in
was
a
with the intent to do
any harm or injury
through this letter, seek any
publicity or retraction in connection with it; but we do ask
that in future references to this
company the epithet be
Nor do
we,
avoided.
:
'
Yours very truly,
\
Jas. P. Brown.
FINANCIAL AND
LEGISLATIVE NEWS.
The public sales of bank stocks this week
were limited to
4 shares-t3 shares sold at auction and 1
share at the Stock
„
Two and one-half shares of
were
also sold at auction.
at
trust'company stock
National City Bank stock sold
advance of 15
an
points over the last previous sale price—
July—but the sale represented only one share. Exten¬
sive tables reporting bid and asked
quotations, deposits, sur¬
plus, &c. of banks and trust companies in all important cities
in
,
In the United States
are published
monthly in the "Bank and
Quotation Section, the September issue of which
accompanies
to-day's
"Chronicle."
Bid
and
asked
quotations
for
all
New York
City bank and trust company stocks are also
published weekly in another department of the
paper, and
will be found to-day on pages 650 and 651.
Shares.
BANKS—Neto York.
Loic.
♦1 City Bank, National
High.
Close.
Last previous sale.
365
3 Commerce, National Bank of.
365
365
July
1913— 350
175
175
175
Aug.
1913—
465
465
TRUST COMPANY—New York.
2}i Columbia-Knickerb. Trust Co 465
*
Sold at the Stock
of
A proposal made
to the
invitation
an
Committee by Representa¬
to be heard
on the bill be ex¬
tended to the Legislative Committee
of the American Bank¬
ers' Association and the
jected
Secretary of the Treasury,
on
the 3d inst. by
was re¬
of 10 to 8.
Instead, there was
of 10 to 8) a resolution of
Representative
Wingo, in which the Committee held it to be
a vote
adopted (by
a vote
to invite the
Legislative Committee
unnecessary
of the American Bankers'
Association
and inexpedient to
delay the enactment of the
asking the Secretary of the Treasury for an expression
bill by
of "his views upon a measure which he has
several times
endorsed."
Representative
Ragsdale
sought to alter the amendment of
the
pub¬
unsuccessfully
Wmgo resolution
so
to
Whereas, Exhaustive
hearings on the general subject of banking and cur¬
a sub-committee of
the Banking and Currency
Committee of the House five months
ago, upon which hearings was
rency reform were held before
based H. R. 7837, now under consideration
by this committee: and
largely
Whereas, These printed hearings, accessible to
every member of this
committee, contain the views of nearly every member of
the
committee
of the American
terations
on
Bankers' Association
H. R.
now
in
Washington to suggest al¬
7837; and
Whereas, The amendments proposed to H. R. 7837
by this committee
printed in the daily newspapers, have I een
repeatedly sug¬
gested to the proponents of the bill and every one of them
seriously discussed
and carefully considered by those
responsible to the country for legislation;
of bankers, as
and
Whereas, There has been
committee of bankers, for
mittee of the House
on
no
request, directly
Indirectly,'from
or
said
hearing before the Banking and Currency Com¬
any of the proposals made by said committee of
a
bankers; be it, therefore,
;
Resolved, That the Banking and Currency Committee of the House
does
not think it necessary to extend to the
can
Bankers' Association
this committee is
an
Legislative Committee of the Ameri¬
invitation to again express views with which
entirely familiar;
nor
does the Banking and
Currency, Com¬
mittee of the House deem it
expedient to delay the enactment of needful
currency legislation by inviting the Secretary of the
Treasury to express
his views upon a measure which he has several times
publicly endorsed.
By
a
vote of 11 to 1 the bill
was
Banking and Currency Committee
dissenting vote
that of
approved by the House
on
Thursday.
The
one
Republican Representative,
Burke of Pennsylvania; the other
Republicans declined to
commit themselves, merely
answering "present". Before
its approval by the Committee, the bill was amended
so as
was
to reduce from 25 to
banks in
the
a
20% the amount of
reserve
and central
reserve
which the
cities will be
reserve
re¬
quired to maintain during the sixty days after the establish¬
ment of the new banking system.
As indicated last week,
after the
sixty day period the reserve is to be 18%.' Accord¬
ing to the "Times" the Committee also adopted an amend¬
ment which struck out
fourth of such
the Federal
reserve
reserve
the
requirement that "at least
shall consist of
bank of its
a
one-
credit balance with
district", and inserted
an
amendment providing, with respect to the banks in the three
central
reserve
cities, that "after sixty days from the date
a period of one year, at least
three-eighteenths and permanently at least five-eighteenths
of such
eral
Exchange.
as agreed on by the
House, was re-introduced by Chair¬
the Banking and
Currency Committee on
aforesaid, and thereafter for
v
BANKING,
•
of the
caucus
tive Burke, that
vester
>
same
provide that the legislative committee
representing the
bankers be given a
hearing.
The Wingo resolution as
adopted reads as follows:
Chicago, August 26, 1913.
From
Glass
Aug. 29.
as
Editor Commercial and Financial Chronicle, New York
City.
as
■
Administration currency bill,
Democratic
man
licly
Office of the Aasistrvnt Secretary.
Harvester Company
The
entirely
alluded to "the two Harvester
each,
that there
agree
In the article to which he refers,
briefly the
very
Trust."
vester
self-explanatory.
correspondent in his criticism of the
of the word "trust."
made at the
was
figure.
-
with
xcyii.
175
reserve
reserve
shall consist of
a
bank of its district.
credit balance with the Fed¬
The "Times" adds that:
With this amendment the provision with respect to the banks in
the three
central reserve cities of New York, Chicago and St. Louis
provides that their
reserves
shall be maintained as follows:
The central reserve
city
must for
sixty days after tfye formation
a reserve
of 20% of its deposits
and after that 9%
of the regional
reserve
and after that 18%.
must be maintained in the bank's
bank
bank maintain
For sixty days 10%
own
vaults.
After
sixty days and thereafter for a year 3%, and permanently thereafter
5%,
may consist of a credit balance with the Federal reserve bank of its district.
The remainder of the reserve required of each central reserve
may
city bank
be floating—that is, consist of reserve money actually held in its own
vaults
or
of
a
credit balance with the Federal reserve bank;
mainder would be
10% for the first sixty days, 6% for
a year
and this
re¬
after the first
sixty days and 4% thereafter.
A final effort, made by Representative Ragsdale
(Demo¬
crat) to have the time limit on re-discountable paper ex¬
tended from 90 to 120 days was defeated on
Thursday by a
vote of 9 to 7,
,
The presentation
of diversified views on the pending cur¬
bill has occupied the attention of the Senate Banking
and Currency Committee during the past week.
The public
rency
hearings opened
on
Tuesday, and while intended primarily
accord the committee appointed two weeks ago at the
bankers' conference in Chicago an opportunity to
to
personally
their opinions, the hearings have not .been entirely
confined to testimony by members of that
committee,
Exchange.
express
*■
A New York Stock
transferred
this
week,
Exchange membership
the
consideration
was
being
reported
given
as
about
a
dozen others having been invited to appear
before
Chairman Owens' committee at the
same
time.
Some oppo-
.
Sept. 6
the hearings among
eition to
the members of the Senate
Committee was evidenced at the
start, Senator Bristow protesting against the hearings while
rthe tariff bill is pending. • Senator Hitchcock likewise thought
that the hearings should have been postponed until the
tariff is out of the way, and declared that the meeting should
not have been called without the consent of the members
of the committee.
While agreeing that Chairman Owen
Banking and Currency
should have consulted with the full committee
Senator Reed
and that
be advanced
practical one
saved by having immediate hear¬
President of the First National Bank
the witnesses
session on Tuesday.
«.
of 50
The
"Journal of Commerce"
are
"repulsive in its provisions for control" and "a force bill the
like of which is not on the books of any nation."
His stric¬
quotes
or
would divide the consoli¬
different ownerships as there
of a number of institutions
into as many
As no individual bank can now increase its gold
without to the same extent decreasing the gold or lawful
separate institutions.
lawful money
money
of
regional institutions, no one of
other bank, so, with these
some
them could strengthen its
cash reserves without drawing them from
and
of another.
On the other hand, one central institution with branches could distribute
the gold or lawful money reserves over the country, as circumstances might
call for, without change of ownership.
The money would belong to the
same institutions irrespective of where it might be located, or what branch
had custody of it.
Chicago would be supplied with money by New York
without publicly attracting attention to the fact that New York's reserves
had been decreased and Chicago's had been increased by the transactions.
depleting to the same extent the reserves
The
published statement of the one institution would simply show that it
so much more in Chicago and so much less in New York, while its
owned
percentage of cash on hand to
necessarily be
total liabilities would not
changed at all.
institution were entirely sepa¬
institution.
The Chicago institu¬
This would not be the case if the Chicago
and distinct from
rate
the New York
could not be supplied by a withdrawal
the New York institution without diminishing to an equal amount
tion's lawful money requirements
from
the latter's lawful money on hand.
each regional
of its
own
In
stress, when
for the benefit
financial
times of
institution would be husbanding its resources
undesirable and awkward
of the country being at vari¬
intensified in direct ratio to the number
constituents this might produce an
situation, the interests of the various sections
Such
ance.
a
condition would be
of regional institutions
A very
practical
five Federal
tee
established.
reason
reserve
why it would be wiser to start with not more than
Bank Organization Commit¬
banks is that the Reserve
might find it difficult, if not impossible, to
comply with the require¬
It might fairly be assumed
would immediately after
the passage of the Act voluntarily subscribe for their proportionate amount
of the capital stock of the Federal reserve banks and contribute their quota
of the required reserve deposits to be placed in these banks.
ment that it should
that few if any
organize not less than twelve.
of the State banking institutions
twelve reserve banks a
needed, with the
amounts apportioned as follows:
New York, $25,000,000;
Chicago, $20,000,000; St. Louis, $15,000,000; San Francisco,
$10,000,000; New Orleans, $10,000,000; Philadelphia, $10,000,000; Boston, $10,000,000, and five others at $5,000,000
each, making a total capital of $125,000,000, which, he added,
would be $20,000,000 more than would be supplied if every
bank subscribed in the proportion provided by the bill.
Mr. Wexler voiced his disapproval of the proposal for twelve
Forgan also declared that for
Mr.
total
capital of $125,000,000 would be
regional
reserve
banks and
central institution,
advocated the creation of a
saying:
central bank we will be the largest
gold reserve of any institu¬
tion in the world.
We would be so strong that in ten years England, France
and Germany would be insignificant in comparison with us in the commerce
of the world.
But if you scatter it among twelve institutions you are bound
to have competition and each one of them will be insignificant.
If
we
get all these reserves into one
banking power in the world, with the greatest
In
urging the adoption of the
that the amount of the
Federal
reserve
bankers' recommendation
subscription to the capital of the
banks be reduced from
20% to 10% of the
capitalization of the bank applying for
■
Wexler said:
„
"We propose to reduce the
20%
to
10%.
membership, Mr.
'
:
;
■
■
of each bank from
would greatly increase the
capital stock assessment
We believe this amendment
We agree with the framers
would probably never be called for, but
this additional liability the banks must recognize, and it simply frightens
them.
In the South and West the 20% assessment is considered a great
hardship, and, while it is contended that this void in their assets can
be filled by borrowing from the regional reserve bank, no bank is as willing
to borrow for its banking operations as it is to lend its own assets.
number of banks willing to enter the system.
of the bill that the additional 10%
"I don't believe, unless most of the
amendments we propose are
that State banks will join the system or
adopted,
that national banks can
be pre¬
If the bill is made
satisfactory by the adoption of most of the amendments we propose, I
believe 80% of the national banks and 50% of the State banks will join the
associations.
This proportion of banks, at the 10% capitalization sugges¬
ted by us, would mean a capital stock for the regional reserve banks of
$130,000,000.
Our suggestion as to the smaller assessments will add to,
rather than subtract from, the aggregate
of regional reserves, and the
more banks that participate the greater the cohesion and strength of the
vented
from
surrendering
system for good."
their
national charters.
„
the bill.
declared it to be
In criticizing the bill he
present form.
tures are
banks. It will be
capital stock of the
and part with one-half of our reserves.
But we make no objection
onerous burden.
We only think we should not have to undergo
proposed system will rest on the
part to contribute
system
the
to
Times" as follows:
quoted in part from the "N. Y.
"The burden of the
our
one-tenth of our capital to the
hardships without representation.
"In the mind of the public we are
dated cash reserves of the banks
of the Federal Reserve
designation would rest with him under
Mercantile Trust Co.
of St. Louis, appeared before the committee on Wednesday
and offered very forcible arguments against the bill in its
saying:
The establishing
the President be authorized to select
four members
the
Wade, President of the
Festus J.
these
Mr. Forgan as
and
men
list
this
Board whose
argued in behalf of the establishment of not more than five
central reserve banks, instead of the twelve proposed in the
Administration bill.
100
or
from
Mr. Forgan
heard at the first public
begins consideration of the bill. This was that the
submit to the President a list
mittee
of
and Sol Wexler, Vice-President of the Whitney-
Chicago,
possible amendment when the Senate Com¬
as a
bankers should be allowed to
in the matter,
Central National Bank of New Orleans, were
(Republican) which it is understood will
by Senator Weeks
ings, they accordingly be at once started.
Senator Owen
offered a motion to this end and it was declared carried.
James B. Forgan,
committee, that
suggestions made by the bankers'
The
representation be given to the banking interests on the Fed¬
eral Reserve Board, were met with a counter suggestion
argued that the question was a
time would be
as
639
CHRONICLE
THE
1913.]
But as a matter
lenders of money.
class in the country.
Every deposit
is a loan to us, subject to extraordinary call.
We have not asked for the
additional burden of the stock of the proposed system.
I have not heard
of one banker who wants more than the part he will be compelled to sub¬
scribe under this bill.
There is not one who would take the stock if any¬
of
fact
the heaviest borrowing
we are
it for him.
capital stock thrown open to the
body else could take
"Why is not this
subscription of the
having to undertake it, and to furnish
a large part of our capitalization and reserves. ' But this system should be
considered as any other corporation.
No Senator here would attempt to
establish a corporation of half a million dollars if those who supplied the
We do not complain at
public?
should have to abandon its
money
"No
control.
who, at least in his
will be men of such eminence as
But we do doubt that they will
doubts that the President will name men
one
judgment, are men of integrity.
They
will attract the plaudits of the country.
successfully to inaugu¬
But we
do fear for the business efficiency of a board three of whom will be members
of the Cabinet, with/their time from morning till night taken up with other
matters, and the other four of whom are to us unknown.
"This bill is repulsive in its provisions for control.
It is a force bill
the like of which is npt on the books of any nation.
There ought to be, and
I am sure there is; wisdom enough in the committees of the House and
have the banking
and business experience necessary
We do not fear for political control as such.
rate this system.
Senate to frame
but which will
a| measure that will not compel banks to join the system,
provide so advantageous a system that banks will be knocking
V
banking system
the State institutions must co-operate.
Now you are telling the national
banks to take on additional burdens or go back to the State systems.
It is
my opinion that if the bill were passed to-day it would be inoperative to¬
morrow.
It discourages the bankers by telling them they are a class
of citizens no longer entitled to representation.
This is a step backward.
It is in no sense a step in the line of the progress of the nations."
"For six years
1
in.
at the door to get
I have urged that to make a homogeneous
♦
*
♦
*
*
♦
•*
*
proposals with the larger banks.
The small
bank has no use for the proposed reserves.
Its correspondent looks after it
and will continue to do so.
My appeal is to interest you in inducing the
State banks and trust companies to come into the system.
Otherwise, it
"You must deal in your
cannot succeed.
institutions
Your note issue would be a farce
accepted your proposals."
Mr. Wade endorsed the
the selection of
serve
suggestion of Senator Weeks for
by the banks
list of fifty or more men
a
from which the President
selects to
unless the larger State
■
might appoint the four members he
the Federal Reserve
on
Board.
"What
we
experience, credit ex¬
perience and financial wisdom on that board. We dare not
trust the entire control of the financial structure of the
want," said Mr. Wade, "is banking
country to Cabinet
officers, whose time is already occupied
of routine administration
from dawn to dark with matters
of .their
departments."
'
.
"Ledger," Mr. Wade, when
outline his ideas of a new Federal
According to the Philadelphia
asked
on
Thursday to
banking system, said:„
..
.
'
would be the nucleus of
any ideal system: the power of note issue should be left to banks, under con¬
trol of the Government, the banks to have representation on the Federal
Board of Control; these notes should be obligations of the banks and not
of the Government; they should be redeemable in gold with a 50% gold re¬
serve; the Federal reserve Board should have the power to increase or dimin¬
ish this percentage of reserve in time of financial distress; the law then would
provide that national and State banks and trust companies could do busi¬
ness uhder the system, provided they became members of the central bank.
A central bank with
branches in the large cities
Mr. Wade's plan,
ment
of
the
bank currency
At
retire¬
national
it is stated, also provided for the
present
Government bond-secured
and the refunding of the
bonds.
Chapman, Vice-President
National Bank of Minnaapolis, argued
Thursday's hearing, Joseph
of the Northwestern
against the provision in the bill
which gives the Federal Re¬
compel one regional reserve bank to
re-discount the paper of another.
Robert F. Maddox,
Vice-President of the American National Bank of Atlanta,
serve
Board power to
making all checks payable
checks drawn
by member banks upon one of the regional reserve banks be
accepted at par by other banks.
They said the large banks
vigorously opposed the provision
at par.
The bankers recommended that only
of the country were now
trying to work out a general system
640
THE
of par collection of
checks, but that the
persistently refused
to
give
CHRONICLE
small institutions
the
lections.
tions of the
George M.
Reynolds,.1 President
of
the
Continental
bankers really expressed the views of
the ma¬
jority who attended the
meeting. We quote his remarks
&
Commercial National Bank of
Chicago, expressed particular
yesterday to the compulsory subscription by
below:
opposition
banks to the stock of the
Federal
failure to give the banks
As
a
view to postponing action
by the Senate
held.
the bill,
on
•
/
...
■
Democratic
It
represented the
Representative Glass, while not
opinion
of
ooncensus
ing interests."
.
I have carefully read the resolutions which
.
in the currency
-
bill
currency bill without qualifi-
cation.
;
j
•
The letter files of the
Banking and Currency Committee com¬
pletely justifies this assertion..
Indeed, until some of the big banks of
the reserve and central reserve cities
inaugurated a systematic campaign
against the bill among their country
correspondents, approval of the
quite general.
meas-
ure was
-
Assuming, however, that the bankers' conference at
Chicago did reflect
the banking opinion of the
country, I do not think Congress will be turned
t
aside from its purpose to enact
currency legislation in the interest of all
the people rather than legislation dictated
by the banking interests.
Speak¬
ing for the Democratic members of the House
Banking and Currency
Committee, who have so far firmly resisted Populistic
appeals to the preju¬
dice fomented against bankers, we
yield to unreasonable demands
Gracious knows
on
just
are
as
firm in our purpose not to
the part of bankers.
have exhibited little enough
respect for the dema¬
gogues in our own party who would enact unsound
legislation along what
they conjecture to be popular lines; but it
may as well be understood that
we do not intend to be driven to the
other extreme, which would
„
us
to
enact
require
legislation for the peculiar advantage of the
big banks, with
.
of the House, and having
gone through the grind of
every
detail of the pending bill, I
may
safely
the attitude of the House.
There is
not
a
a
Currency Committee
Democratic caucus oh
assume to say
something about
'
demand contained in
the resolutions
adopted by these
considered and fully discussed
bankers which was not carefully
by the
Banking and Currency Committee and by the
Administration; hence, such
of these demands
Congress
were
as
are not now
-
measure
pending before
Some of the
alterations
adopted because they seemed to the com¬
They were agreed upon before the action taken
were
mittee wise and desirable.
at
embodied in the
rejected after due deliberation.
proposed by the bankers
Chicago by the bankers.
reserve
Board to provide
serve
a
requirements; have raised the limit
every
effort to impair the
strength and saneness of the measure
by loading it
down with wild and dangerous
expedients.
Of this fact the bankers seem to have taken
little note or to have shown
no appreciation whatsoever.
They come forward now with renewed de¬
mands, threatening to defeat the bill if they are hot
complied with;
As al¬
ready stated, the proposals have repeatedly been
considered by the Ad¬
ministration and by the Banking and
Currency Committee of the House,
acting in concert with the Chairman of the
Banking and Currency Com¬
mittee of the Senate.
They were pressed upon us by some of the most emi¬
nent bankers of the
country and rejected because they were
regarded as
""
nor
expedient.
Only two of these
many
.
-
pther to counting
balances
with
reserve and
central reserve banks as
The first of these objections is
partially met by
an
advisory council of bankers, while the second is
partially met by a considerable reduction in reserve
requirements.
It is my very firm conviction that
no further concessions
should be made
or will be made.
It is my belief that no bill
embodying these additional de¬
mands
by the bankers could pass the House, nor is it
my judgment that any
bill containing these further
demands would receive the
approval of the
President in any event.
While I have taken and still hold to the
conserva¬
tive side of the
question, I think it decidedly
preposterous to contend that
no banking and
currency bill which does not receive the
unqualified en¬
dorsement of th<3 big bankers of the
country can be either sound or servicea¬
ble.' A suggestion of that
sort is positively offensive.
1
,
"coming and going."
The
more
they talk about the matter
utility banks contemplated by the
to
may
to
permit the utility banks to deal directly with individuals of
credit instead of through the
The
contention
interpositions of the
credited
in
that the bill would result in
of the
was one
tions
a
sincere
but not
a
the
be started
a
adopted.
at
qualified
member banks.
above
Mr.
to
Forgan,
great contraction of currency,
objections cited against the bill in the
originally offered
the conference" by
resolu¬
Mr. Forgan,
On this point the resolutions
set out:
That the State banks, which
outnumber the national banks two to one
and do half the
country's
business,
cannot be induced to
into the
voluntarily
come
new system, so
that, in order to establish the Federal reserve
banks,0
entire reliance would have to be had on
the national banks, whose total
capitalization is $1,050,000,000, one-tenth of
which, or $105,000,000, is
to form the
capitalization of the Federal reserve banks, and that this sum
is
inadequate to the need
of the proposed
system
That the practical effect of the Act
will, within sixty days of its enforce¬
cause a loan contraction of
ment,
$1,803,000,000.
That it will cause a
shortage in the reserves of the national banks of
$103,000,000; that instead of twelve Federal reserve banks there should be
the smallest
possible number, preferably
hand,
one
large central institution.
Senator Owen points out, Mr. Dawes
as
had claimed in his remarks at the
conference that the bill
was an inflation measure.
Mr. Dawes's views were contained
in the
We
following:
are
and
.
bankers, but
of the country this is
a
.
we
are
citizens first.
confused subject.
In the minds of the people
The public are looking for light
leadership in this matter, and they look for that light and
leadership
to the
bankers, because the bankers understand the subject.
our duty to act first as
citizens and not as bankers.
It is true that
ought to have a spirit of helpfulness and
co-operation in this matter,
It is
we
but
is
we
must show at the same time
fundamentally vicious and
must be adverse from the
a
wrong.
determined opposition to a bill that
Any discussion, in
my
judgment,
public interest
as well as from the private Inter¬
Why superimpose this great system of inflated
currency ?
This bill
does not make provision for
wiping out the national bank notes as in the
ests.
Aldrich bill.
Does not this bill bring the
country face to face with all the danger inci¬
It is an inflation measure.
It is
dent to inflated currency?
Such is the case, for some
apparently have not the
banknotes.
country banks.
coons
they call attention
proposals were stated to be fundamental.
One
on the Federal Reserve Board
and the
the appointment of
thus repre¬
particularly
criticism
reason
or
courage to
superimposed.
other, because the framers of the bill
provide for the retirement of national
There is injected once more the
question of political
control.
♦
related to banking representation
reserve for
no
made by certain economists that the bill
as drawn
proposes that
the utility banks shall make their loans
only to member banks, which in
their turn will re-lend at their own
rates to private individuals. "If the
banks press their plea for control much
further, a movement
of farm loans from nine
to twelve
»months; have raised the dividend limit to member banks
by readjusting
the provision of the bill
relating to earnings, and have, because it seemed
right, done other things that radicals opposed while the
banking interests
approved.
In addition to the things done by the
committee and the party
caucus in
constructing a banking and currency bill, we have resisted
neither wise
they will not be permitted to get.
the more apparent it becomes that the
On the other
to
far the dissenters have made
bill should be under the control of the
public and not the banks.
The more the bankers talk the more do
>
city and central
18% ; have authorized the Federal Reserve
graduated penalty on all banks which fall below
re¬
city banks from 25
so
trap that caught
•
We have provided a bankers'
council; have reduced the reserve
require¬
ments of country banks from 15 to
12%, and of reserve
of the House.
The obvious weakness of these attacks is
that they cannot both be true.
There will result a needed basis for
legitimate expansion of safe credits.
The real purpose of the
meeting at Chicago was to secure for the bankers
control of the system
proposed in the pending bill.
But that is one thing
we
their vast stock exchange connections.
'
I shall not venture to
predict what the Senate will do with the demands
made by the bankers at.
Chicago; but, having spent several months in dis¬
cussing every phase of the subject in the Banking and
caucus
currency, a shrink¬
age of some $1,800,000,000.
That statement would
certainly be received
with grave uneasiness by the
borrowers of the country, while the
money
lenders would disapprove the bill if
they thought true Mr. Charles Dawes's
equally severe criticism that the bill means too
great inflation.
The only point in common between
these attacks is that
they condemn
the bill.
Those who fear contraction
may be led by one to oppose
the bill
and those who fear expansion
may be led to oppose the bill by the other.
There was a famous coon
now
,
their wishes also,
was printed for use of the
made available for
any one inter¬
But that the resolutions
really expressed the views of the
majority of
bankers who attended the
meeting I do not believe.
To begin with, the
individual views publicly
expressed were too dissimilar to find harmonious
resting place in the resolutions
formally adopted.
Mr. Forgan, for in¬
stance, said the bill meant too great contraction
of the
conference of bankers at
a
was
was
sented, I cannot say, though
"turned aside
under consideration by
Congress, and, while I am not prepared to say
whether or not these resolutions
represent the concensus of banking opin¬
ion throughout the
country, I do know quite definitely that hundreds of
bankers have endorsed the Administration
currency and
conspicuous outcry.
His statement in the matter is
printed here¬
.':y'
Chicago adopted last week, asking certain alterations
others of that group
and
were
pre¬
currency legislation in the interest
of all the people rather than
legislation dictated by the bank¬
with:
have
fullest
not with¬
manner
customary with such organizations, proceeded to
adopt resolutions purporting to set forth their
views of the gathering.
How perfectly the
opinions of the individual members
banking opinion, maintained
his belief that Congress would not be
from its purpose to enact
as
the
society, in the
to whether the resolutions
as
views
were
then that certain of the
bankers began to feel that their
opinions
might not have been voiced in
sufficiently persuasive accents.
To stress
their wishes, they called a
meeting of the Bankers' Association, and that
Currency Committee gave out statements last Sunday rela¬
tive to the resolutions
adopted by the bankers at the recent
an
on
their
drafted
Then the bill was drafted in
the light of what
they had suggested.
Later,
further hearings were granted
by Secretary McAdoo of the
Treasury, Rep¬
resentative Glass, as Chairman of
the House Committee, and
myself.
Some modifications were made
following such of their criticisms as recom¬
mended themselves to our
judgment.
The bill was then referred to
the
Currency
Banking and
pared to venture
But
was
those expressions
What they said
ested in the subject.
Both Chairman Owen of the Senate
Banking and
Committee and Chairman Glass of the House
,Chicago conference.
Chicago.
Before the bill
invited, and
Hepburn, Mr. Forgan, Mr.
Warburg and
two committees
"
.
were
in the fullest possible manner.
:
>.
*
Mr.
Banking and Currency of the Senate
certain prominent bankers who
partici¬
appeared in Washington and presented their
views
(Republican) on Thursday introduced a reso¬
directing the Banking and Currency Committee to
ing and Currency Committee.
on
Tuesday
conference of bankers at
expressions of opinion
withhold its report until Dec.
2; yesterday (Friday) the reso¬
lution was referred, on motion of
Senator Weeks, to the Bank¬
it
to hear on
the
already been extensively heard.
Senator Weeks
lution
courtesy, the Committee
pated in
the Federal Re¬
on
a
has decided
and the
Board.
With
v
banks,
reserve
representation
serve
xcvii.
According to the statement of Chairman
Owen, as given in
"Times," the Senator does not believe that the resolu¬
their right to charge for col¬
up
[Vol.
A
charge that
a propaganda is being carried
on, "led by
City Bank of New York, which has circularized
the coimtry against the bill", with the obvious
intention of
discrediting the Administration and make it appear that the
the National
bankers have not been consulted, was contained in a
letter
which Senator Owen caused to be printed in the
"Congres¬
sional Record" of the 1st inst.
The letter was addressed
to Vice-President James
of
Chicago, from whom
Simpson of
Marshall Field & Co.,
expression of opinion Was sought
by the New York "Times" in its campaign to test the attit
an
Sept. 6
generally
tude of business men
the question as to the
on
free exchange of opinions between the framers
bill and representative bankers.
The letter of Senator
desirability of
of the
Owens
a
printed in the "Record" is as follows:
as
UNITED
STATES
mittee
SENATE.
ministration
following effect:
currency
that the best interests
by a free exchange of opinions between the
sentative bankers?
The New York
statement
from
you
framers of. the bill and repre¬
would appreciate a short
-
telegraph upon a matter which as of vital interest
by
third hearing
of the American Bankers' Association
the Committees on Banking and Currency of the
also by the
United States.
In addition, the Chairman of the Com
House and Senate,
President of the
mittee
also by the Secretary of the Treasury, and
Banking and Currency of the Senate
on
and 50,000 copies
use
of the bill were sent out for
The
inspection and report.
of the Senate has published for its
They have at their disposal a special
volume of such opinions.
a
called for the opinions of
bill and on the principles involved in it
500 bankers on the pending
over
li¬
of over 2,000 volumes.
brary on this question
National City Bank of New
York, which has circularized the country against the bill, is obviously intended
to discredit the Administration and to make it appear that the bankers have not
propaganda now being carried on, led by the
The
been consulted, and that
s
all."
to
introduced in both Houses a further and
Committee on Banking and Currency
framers of the Ad¬
bill and the bankers of the country.
Do you feel
of the business men of the country would be served
to be lacking between the
appears
banking.
by the Chairmen of
of Aug. 29
opinion:
"We think fullest exchange of opinion between framers of currency bill
and bankers absolutely necessary in order to avoid mistakes."
Your telegram was an answer to a telegram sent broadcast Sunday,
leading New York paper in which you express the following
"Co-operation
with
accorded to the representatives
was
Aug. 24 by this New York paper, to the
representatives of the American Bankers'
in constant
bankers from all over the country as well as with
discussing the details of this bill, and has been
After the bill was
Vice-President, Chicago, III.
representatives
the question of
hours con¬
secutively in conference with the
leading experts on
My attention has been called to your telegram
Dear Sir:
Warburg, regarded as one of the ablest
The present Chairman also spent over ten
currency.
communication
Marshall Field & Co.:
Senate spent seven
Banking and Currency of the United States
banking interests and their greatest expert on
of those
bank
September I 1913.
Mr. James Simpson,
on
hours with Mr. Paul
Association,
COMMITTEE ON BANKING AND CURRENCY.
to a
641
CHRONICLE
THE
1913.]
the committee is not well informed.
misrepresentation has the effect of poisoning the
This
publication the Committee on Banking
and Currency had invited these bankers to be heard before the Committee
and they had four previous hearings by the framers of the bill.]
The replies to this dispatch are published from many prominent people
from one end of the country to the other—Minnesota, Texas, Tennessee,
misleading public opinion.
Utah, Iowa, Nebraska, &c.—show¬
ing that this misleading inquiry was sent broadcast throughout the United
States and, whether intended to do so or not,conveyed the impression that
the framers of the currency bill had denied a free exchange of opinions
public mind, and
panies.
days previously to this
[Four
Ohio, Wisconsin, Colorado, Indiana,
with the bankers of the country.
This
is utterly untrue because, as stated,,
suggestion
heard four times and their views were
against the pending measure
suggestion, moreover, would excite hostility
the ground that it was
on
they had been
Such a
printed for committee use.
drawn without consultation and without
knowl¬
;
edge.
have had
this measure
drawing
discussed
Congress
of three hours on the floor of
great concerns, like
their Representa¬
The representatives
big banks of the country have been given the most abundant oppor¬
tunity to be heard. ' And, after they had their Chicago meeting and pre¬
sented anew their old contentions, and requested further hearings, this
opportunity was immediately afforded them by telegraph, and the hearings
The business men
set for 2 o'clock
Tuesday, September 2.
being misled by an artificial
behalf of private interests which does not
hesitate to convey to the country the false suggestion that the Administra¬
tion is proceeding without adequate knowledge or without giving a hearing
duty to advise you that you are
I deem it my
The rank
in
conducted
of the country.
to the bankers
valuable parts of our national com¬
mercial machinery.
They have been of great value in promoting every
kind of enterprise, and one of the most useful features of the proposed
public utility banks—the so-called Federal reserve banks—will be to give
stability, peace of mind and greater opportunities to the bankers of the
approval of the press of the United States.
Vreeland-Aldrich bill provided for the National
appropriated a large amount of money to enable
an exhaustive study to be made of this great problem, and hundreds of
thousands of dollars were expended for the employment of experts, and over
country to render
patriotic service.
printed, beginning in 1910 and extending
description of the banking system in the
in Germany. Li Belgium, in Sweden, in Switzer¬
matters
of banking practice and reform in
In addition to this
,
1
Very respectfully,
ROBERT L.
In
connection with the
'
«
immensely laborious work, the House of Representa¬
to Senator
answer
?
OWEN.
;
Owen's charge, Frank A. Vanderlip,
denial that his
President of the National City Bank, enters a
engaged in any propaganda against the bill, his
reply thereto being as follows:
I will yield second place to no member of the Administration in loyalty to
is
bank
Committee on Banking and Currency, during the last
winter gave most elaborate hearings to the bankers and banking experts
of the country, including Mr. A. B. Hepburn, Chairman of the Currency
Commission of the American Bankers' Association; Paul Warburg, of the
tives, through the
sound amendment of the
Kuhn, Loeb & Co.; Victor Morawetz; Leslie M.
Shaw; Prof. J. L. Laughlin; Mr. D. G. Endy, Chairman of the Banking and
Currency Committee of the National Association of Credit Men, accom¬
great banking house of
panied by Messrs. J. H. Tregoe,
1
few men, having an enormous
men.
Scotland, in Canada, in Italy, in Russia, in Austria-Hungary,
Netherlands and Japan, ais well as in the United States, and discussing
American problem.
.
control of credits
of the country, should oppose surrendering to the United States in any de¬
gree the vast power which they have heretofore exercised enabling them to
control credits, to bull and bear the market, to enrich or impoverish other
It is not surprising that a
land, in
various
constitute one of the
and file of the bankers of the country
greatest, most important and most
Congress In passing the
to 1912, giving an elaborate
will act, unadvisedly.
of the
Monetary Commission and
British Empire, in France,
of the country need have no fear that
tives and Senators in Congress
the Senate, discussing this question.
thirty volumes of reports were
fictitious and false public
the contentions of these great financial com¬
opinion unduly favorable to
speech received the widespread
up
large salaries, and who are able to create
pay very
attention, delivered a speech
This
viously to that time given the matter great
public interest. It is an open secret that these
Morgan & Co., have publicity agents, to whom they
private interest against the
propaganda
the most abundant means of
the question of currency reform very
deliberately, and at great length, immediately after the disastrous panic of
1907, in passing the so-called Vreeland-AldLrich bill.
The present Chair¬
man of the Senate Committee on Banking and Currency, who had pre¬
Those
knowledge.
Such misrepresentation will thus promotq a
some
in the past and
Association of Credit Men; Mr. Festus J. Wade,
Trust Co. of St. Louis; Mr. James E. Ferguson
bill.
Comptroller of the City
of New York; Mr. Ludwig Bendig; Mr. Samuel N. Wilhite, Comptroller
of the City of Louisville, Ky.; Mr. William A. Nash, former Chairman of
the Clearing-House Association of New York; Mr. George M. Reynolds,
well
criticism of the bill
judgment it seems called
engaged in any propaganda against the
shall offer further criticism if in my
This bank, however, is not
for.
The present bill has
others of its provisions are obscure or
I have felt called upon to offer some
need amendment.
Charles D. Joyce and W. W. Orr, repre¬
country's currency system.
sound and excellent features, but
senting the National
It is incumbent upon
President of the Mercantile
of Temple,
President
Tex.; Mr. Edmund D. Fisher, Deputy
of
the
Continental
&
Commercial National Bank, Chicago;
banking expert; Mr. Andrew J.
also
them by that
which might be
or
and a notable report of over 250
pages prepared by the Pujo Committee, the Hon. Samuel Untermyer,
counsel, showing in tremendous detail the concentration of control cf
property and credits by Morgan & Co., the First National Bank and the
National City Bank of New York, through 341 directorships in 112 cor¬
porations, having aggregate resources or capitalization of $22,245,000.
established,
a
banking and currency system
banker felt that its provisions were
unworkable, he would have to remain out of it.
unsound
I say this without re¬
reached by the National
only when the pro¬
enactment. The
Very fact, however, that in the long ran the bankers of the country at large
will have to decide whether to accept the new system or to reject it supplies
the best of reasons why they should urge their views as to what is sound and
desirable legislation while the bill is still under consideration.
Judgment can be passed on that question
City Bank.
visions of the
published and comprised a volume of 744 pages.
so-called Money Trust, the testimony being
exception, hold the duties imposed upon
motely implying any such conclusion having been
Committee on Banking and Currency also made a
careful investigation into the
them dangerous or in¬
trusteeship above any selfish interests.
If, after mature consideration of any new
ests of the country.
Their statements were
drafting the new currency law and to point out any
sections of the country, without
Bank, Wisconsin; John V.
Farwell, of John V. Farwell Co. of Chicago, director of the National Bank
of the Republic, Chicago; William T. Creasy, Master of the Pennsylvania
State Grange; Mr. T. J. Brooks, representing the Farmers' Educational
and Co-Operative Union of America; Mr. William W. Flannagan of New
York; Mr. William H. Berry, ex-State Treasurer of Pennsylvania and a
manufacturer, and many others representing the banking business inter¬
In addition to this the
are
Bankers have to conserve their personal interests, but they
hold in trust the funds of others, and I am sure the bankers of all
advisable.'
President of the Waukesha National
Frame,
who
York as
impress their views upon
the bankers of the country—those in New
those elsewhere—to do what they can to
proposals in the currency bill which may seem to
Charles N. Fowler of New Jersey,
Hon.
as
the legislators
'
proposed law have been definitely fixed by
printed in three volumes of 2,226 pages,
(H. Reps. 1593.
P. 88, 62d Cong., 3d sess.)
had been made by the National Monetary
After the reports
in 1910, the bankers of
Commission
the country carried on an active propaganda during
191.1 and 1912 for the so-called "Aldrich bill," which proposed to establish
great central reserve bank on the theory that it would mobilize the re¬
a
serves,
provide elastic currency and give an immediate
market always for
qualified commercial paper.
It
was
$500,000 was spent in
currently reported that from $300,000 to
this propaganda.
The American Bankers' Association approved this
ers-controlled central bank. The plan was objected to by the
of the country because cf one great
bank¬
public opinion
fundamental and fatal defect—that is,
for the avowed purpose of
control was given to the bank¬
ers, who would have been guided, necessarily under the laws governing
human life, by private interests instead of by the public welfare exclusively.
After the further investigation made by the Banking and Currency
having been proposed at great public expense
being
a
great public-utility bank, the supreme
Committee of the House of
Representatives during the last winter, 1912-13,
comply with the public opin¬
In resolutions
adopted at their annuarconvention on Aug.
28, the Colorado Bankers Association endorsed the move¬
ment toward more efficient banking and currency laws and
expressed the hope that "nothing will be done without the
most mature and careful consideration and deliberation,
and that
suggestions from all sources shall be given due at¬
tention by those
in charge of this important matter."
the convention.
His remarks dealt with the pending cur¬
While commending the President for his
efforts to bring about a reform of the currency laws, Mr.
Wade took occasion to point out some of the features of the
rency
bill
measure.
now
before Congress
We have already
American Bankers' Association^
by those responsible for the present bill,
After
the
various representatives of the
They were thus consulted a second
.
.
,
submission to
Chairman of the Com¬
preliminary draft was actually prepared for
Congress and before being submitted, the present
tim3
which have come in for criticism.
referred to his remarks before the Senate
Committee this week.
and before the new bill was actually drawn to
ion, the preliminary draft was submitted to
Festus
President of the Mercantile Trust Co. and of the
Mercantile National Bank of St. Louis, was a speaker at
J. Wade,
♦_—
In the Senate, as
pastwi
which
in Committee of the Whole, during the
,Senator Sutherland's amendment to the tariff bill,
ould have imposed the rates of duties now prevailing
THE
tinder the Payne-Aldrich law
bond,
the
imported goods held
vote of 35
a
Appeal equal jurisdiction with the United States Customs
The modified amendment
restricting the importa¬
tion of goods which are the
product of child labor was adopted
the 30th.
on
the reports
,
Under an amendment adopted on Aug. 29
of corporations under the Corporation Tax Law
made accessible to
are
"the proper officers of
the request from the Governor thereof.
upon
existing law these
the order of
returns
the
are
The
Under the
inspection only
open to
President.
State"
any
action of
the
upon
taken
indication of the attitude of the Senate toward
as -an
pending
amendment, also offered by Senator Kenyon,
which proposes to place on the free list the
products of every
industry declared by the courts to be monopolies in restraint
of
trade.
Senator
amendment
Kenyon and those who supported his
Wednesday declared that the manufacture
on
of aluminum in the United States
was
in the
control of
a
monopoly—the Aluminum Co. of America. During Wednes¬
day's debate Chairman Simmons announced that it was not
the purpose of the party to
legislate on the trust
the present time. : Before
the
Senate
on
question
at
Tuesday
Senator Root of New York argued in favor of
taxing incomes
low as $1,000, instead of
as
making $3,000 the minimum
taxable income, as in the
present
proposal
pending bill.
imposes
Unequal
He argued that the
burdens,
making the
larger States shoulder the greater part of the tax, while but
a small proportion of the burden would
be borne by the smaller
States.
"I
I have
no
fault to find with
an
income tax
But if you impose too great a tax upon the industrial
will, to that extent, diminish their taxable resources for State
other local
taxes
Last
purposes.
the State of New York imposed direct
year
amounting to $234,000,000—a far greater amount than you expect
country from this excise.
We tax inheritances and
to raise in the whole
franchises.
Last year we raised $13,000,000 from inheritance taxes and
$10,000,000 from franchises.
the taxable resources of
of
to
other
States.
The
In
levying
your taxes you
should not treat
State less fairly than you treat the
our
pending
bill
will
diminish
the
It is stated that the examiner
reports that no culpability
attached to the bank in connection with the
loan, the report
saying that in making the loan, which was in the mature of
a
syndicate transaction to purchase securities, the bank
merely committed an act beyond its corporate powers, as
many other banks are said to have done in similar cases.
The
charges were referred to in
away from
ately, and
them,
William J.
Bryan, Secretary of State, will address the
Banking at its eleventh annual con¬
vention to be held at Richmond, Va., on the
17th, 18th and
19th inst.
Another notable speaker will be United States
Senator Theodore E. Burton of
Ohio, whose address is to
be
."The
Proposed
Currency
tures of the program are
and
resources
taxable
in
your
trusting to your
power
and
of fairness
sense
relinquished
as
resources
placed herself
her Constitutional
rights,
between States."
On the 4th inst. the Senate leaders decided to
Functions," besides
at
Asbury Park
ninth
forty-nine
the 3d inst.
on
He had been
year.
years.
Houses
Mr. Stevens
connected
was
with
in his
sixty-
the bank for
<
The stockholders of the Bank of
fied
on
after
name seven
the
Europe of this city rati¬
Aug. 21 the proposition to increase the capital of
their institution from $100,000 to $150,000.
became effective
on
additional stock
was
the
the
date.
same
The
The new capital
selling price of the
150 to the old stockholders and 160 to
shareholders, the premium having added in the
neighborhood of $27,000 or $28,000 to the surplus, bringing
new
it up to about $80,000.
Cable advices received by the New York
agency of the
Standard Bank of South Africa, Ltd.
Senate
(hea,d office, London),
state that the directors have resolved to recommend to
the
shareholders at the general
dividend for the last
a
annum,
two
the Ex¬
debate between the
4
of
the
a
fea¬
Thomas J. Stevens, Cashier of the Market & Fulton Na¬
tional Bank of this city, died
suddenly at his summer home
the
between
Other
"Bank Advertising
Chicago and Pittsburgh chapters that, "so-called
blue-sky
legislation would be for 'the best interests of the people of the
United States."
A real live, stirring convention is
predicted
by the managers of the Institute's convention program.
Senators to the joint conference committee which will settle
differences
on
resources
of the State proportion¬
you are enabled to do this because New York has
voluntarily
Legislation."
symposiums
Business-Building" and "Clearing Houses and
tension of Their
If you go on making the
wealthy higher and higher, simply to take it
will diminish the
you
issue of Aug. 16.
our
American Institute of
of New York more than the old income tax law.
rate on the incomes of the
the
-—»
graded tax.
States you
or
people.
of the elevated railroads of
merger
Treasury Department by
Starek, National Bank Examiner at New York.
Charles
an
and urged it upon my
a
financing of the
Chicago has been made
In his argument Senator Root said:
in favor of
am
income tax, and I believe in the principle of it.
I
think it fair, and I voted for the Income-tax Amendment to the
Constitution,
or
for the
Senate in
rejecting on the 3d inst., by a vote of 55 to 12, a proposal
by Senator Kenyon to put aluminum on the free list was
a
xcvii.
of the investigation into the charge that the
City Bank of New York had advanced $44,000,000
National
proposed to give United States Circuit Courts
Court.
[Vol.
A report
m
On
to 23.
date the Finance Committee withdrew its amend¬
same
ment which
of
all
on
defeated (Aug. 30) by
was
CHRONICLE
10%
meeting to be held
half-year ended June 30
on
Oct. 22
at the rate
with a bonus at the rate of 4% per
distribution at the rate of 14% per annum,
subject to income tax; also to appropriate £15,000 to the
per
annum,
making
a
the bill.
This large representation is asked for to
provide places for Senators Simmons, Williams/Stone and
Johnson of Maine, Democrats who have been in
charge of
writing down of bank premises;
the bill, and for three Republicans. *
carrying forward
passes
The Senate Democratic
caucus
income tax rates to be imposed.
with
the, following
$500,000 and
■
sur-tax
.
agreed yesterday
The flat tax will be 1%,
incomes
on
from
$20,000
3%
The
as
as
to
the
to
add
£10;000
officers'
to
pension
the
fund,
a balance of about £50,000; and to appro¬
priate £25,000 to write down investments to cover deprecia¬
tion of market values
of 55 Wall
as
of June 30 last.
W. H.
Macintyre,
Street, is the New York agent of the bank.
development of the Trust Co. of New Jersey, at
Hoboken, N. J., into the second largest financial institution
•
in that State has been
*
it previously stood provided
a
graded sur-tax
one
cent
a
Committee imposing
pound
-
a
cottdn future sales
on
adopted at yesterday's Democratic
.
namely the People's Safe Deposit & Trust Co., the Bergen
& Lafayette Trust Co. and
provision incorporated in the bill by the majority
of one-tenth of
accomplished this week through the
Jersey City trust companies,
consolidation with it of three
the maximum.
tax
waa
and
by the
same
All of
officers
directors, and in fact they
William C.
were all organized by Gen.
Heppenheimer and his associate directors in the
dation, which
Deficiency Appropriation Bill, reported to
Representatives on the 2d inst., calls for the
the Carteret Trust Co.
these institutions have been managed
Trust Co. of New Jersey.
caucus.
*
t
The General
the House of
£10,000
♦-—
members of the Senate Finance
r
and
The
From $250,000 to $500,000, 5% additional.
On all over $500,000, 6% additional.
The bill
to
fund
over:
From $20,000 to $50,000, 1% additional.
From $50,000 to $75,000, 2% additional.
From $75,000 to $100,000, 3% additional.
From $100,000 to $250,000, 4% additional.
with
the
upon
reserve
was
decided
The completion of the consoli¬
upon
by the respective directors
month ago, marks the consummation of plans
a
consideration by Gen.
long under
Heppenheimer, but which he was un¬
abolition of the United States Commerce Court
sixty days
measure.
The bill provides for
able to
after the enactment of the
New Jersey had prohibited trust companies from maintain¬
an
ing
appropriation of $300,000 to enable the Inter-State Com¬
merce
the
Commission
railroads
of
to
the
undertake the physical valuation of
United
States;
asked for by the Commission.
$1,500,000 had been
The bill also carries
an
ap¬
branches.
efforts.
tions under the bill
are
$3,784,379, whereas the estimates
$9,923,407.
felonies instead of misdemeanors
of
Representatives
on
was
Law
introduced in the House
August26 by Representative Barclay.
City
"Journal,"
succeeded in his
one
was
in
operation
1913 session of the New
Jersey Legislature and signed by Gov. Fielder
Act
making violations of the Sherman Anti-Trust
year
This law, which is similar to the
New York, was passed at the
The necessary permission for
*
A bill
the Jersey
operate branches, and only this
in
called for
to
because the laws of
companies
to
Americans
The total appropria¬
According
now
Gen. Heppenheimer had for twelve successive years
sought
to secure the enactment of a law
permitting trust
propriation of $100,000 for the transportation of destitute
desiring to leave Mexico.
bring to fulfillment until
on
March 27.
the consolidation under this
granted to Gen.- Heppenheimer and his associates
by the Commissioner of Banking and I
surance on Aug. 28.
preliminary step the Trust Co. of New Jersey has filed
certificate increasing its capital from $500,000 to
$600,000.
As
a
a
It is understood that the consolidation has been effected
by
SEPT. 6
THE
1913.]
the Trust Co. of New Jersey
acquiring the majority of the
into the
merger.
The People's Safe Deposit & Trust Co. will be
known as the People's Safe Deposit Branch of the Trust Co.
of New Jersey; the Town of Union branch of the People's
Safe Deposit & Trust Co. will be known as Town of Union
Branch; The Bergen & Lafayette Trust Co. will be known
capital of each of the other companies entering
as
The Bergen &
and Guy
who had also declined to
worth
Lafayette Branch and The Carteret Trust
as the Carteret Branch.
The following
First Vice-
Lincoln
P.
George A. Berger, Second Vice-President and
Another suit, brought by the same
cancellation of
the
Meany,
Edw.
absorbed,
was
the
was
proceedings
Deposit Branch;
Vice-President and Manager People's Safe
Joseph Harrison, Fourth Vice-President and Manager Ber¬
& Lafayette Branch;
gen
and
dent
Town
Manager
Louis Formon, Fifth Vice-Presi¬
of Union Branch; George B.
Branch; Edwin H. Stratford.
Edward A. O'Toole, Assistant
Secretary and Assistant Treasurer; Eugene Huberti, Assist¬
ant Treasurer People's Safe Deposit Branch;
John T.
Fielder, Manager Carteret
Secretary and
Treasurer;
Branch;
Minugh, Assistant Treasurer Bergen & Lafayette
Assistant Treasurer Town of Union
Walter Meixner, Assistant Treasurer Carteret
The Bergen & Lafayette Trust Co. had a capital
Sievert,
Rudolph
Branch;
Branch.
and deposits of about $3,800,000; the Carteret
of $150,000
Trust Co. had
dismissed in May 1912 by Judge
The deposits of the Trust Co. of New Jersey
the consolidation were in the neighborhood, of
$5,654,000; the company as enlarged thus has deposits of
to
\
$17,000,000.
over
capital of $300,000; its deposits, it is understood, amounted
to about $615,000.
It has State funds of $90,000.
The
institution operated under the charter granted in 1896 to the
Realty Bond & Trust Co., but amended at the time of the
formation of the Commonwealth Bank.
The latter took
over at the time the banking business of the Realty Bond &
Trust Co., which had also conducted an insurance agency
business.
The Commonwealth is said to have been the only
of
bank
institution
in Richmond which was not a
Association.
Trade and Traffic Movements.
Reference to the
the 2d inst.
made in these columns last February.
was
SUPERIOR
LAKE
granted by the 1911 Legislature
of the Industrial Bank & Trust Co.; the in¬
964,288
capitalized at $100,000 and the limit of capital
1912..
761,717
-Season to
1911.
706,445
598,861
570,586
357,571
809,597
761,539
407,678
1,512,425 2,397,535 1,689,952
1,957,239 1,690,650 1,211,667
1,835,191 1,578,221 1,175,098
Marquette
Ashland
Two
was
SHIPMENTS.—The
ORE
-AtlffUStr-
1913.
Port (tons)—
Escanaba
under the
name
IRON
shipments of Lake Superior iron ore in August 1913 aggre¬
gated 7,677,601 tons.
This is a falling off of 82,647 tons
from the corresponding month last year.
In the following
we
show the shipments from the various ports in August
1913,1912 and 1911 and for the period Jan. 1 to Aug 31.
Superior
stitution
consequence
any
member of the Clearing-House
The original charter was
was
—
Richmond, Va., was closed by
State Bank Examiner Barksdale on Aug. 29, and James W.
Gordon and John B. Lightfoot were named as receivers to
wind up its affairs.
The closing of the institution is said to
have been due to its inability to convert into quick assets
long-time real estate notes on which large amounts had
been loaned.
The bank was established in 1906.
It had a
Co. of Hartford,
The American Industrial Bank & Trust
Conn, began operations on
new
♦
The Commonwealth Bank of
deposits of $7,730,000 (these figures all being of
date June 30).
prior
Duluth...
Harbors
1913.
the charter was amended,
making the limit of capital $1,-
000,000 and changing the name to the American Industrial
Bank & Trust Co.
The company opens with a capital of
-
$100,000 and a surplus of $100,000.
6,676,708
The President of the
had been President of the
National Bank of Hartford at the time of its
in 1912 with the Phoenix National.
Secretary and Treasurer.
formerly with the State Savings Bank of Hartford and Mr.
Larkum retires as Cashier of the First National Bank of
Rockville, Conn.
•
&
,•
proposal to increase the capital of the
The
Savings Bank of Chicago from $600,000 to
the shareholders on Aug. 26.
ratified by
stock
was
offered to the shareholders of
privilege to subscribe expiring on Sept.
Colonial Trust
$1,000,000 was
The additional
record at 160, the
2.
James J. Townsend,
head of the Chicago brokerage firm
J. Townsend & Co.,
and formerly President of the
29th ult., following an
attack of apoplexy with which he had been stricken the previous day.
Mr. Townsend had been a member of the
New York Stock Exchange since 1899.
He was m his fifty-
Chicago Stock Exchange, died on the
first
year.
6,076,452
5,801,702
*
,.
,
—♦
from the
same
months the
of
month of 1912
1913 show a decrease
9.5% and for the eight
gain reaches 0.9%. "
Eight Months.
August
Clearings at
Inc. or
Inc. or
1913:
1912.
His
on
Responsibilities,"
223,570,000 254,933,718 —12
—6
156,940,000 167,989,004
—8,
98,940,525 108,553,442
Winnipeg—
Vancouver.
55,929,314 —15
47,455,329
Ottawa
16,069,620 21,106,208 —23
+3
12,976,297
13,483,042
Quebec
+7
Halifax
8.158.191
8,755,037
Hamilton
+ 54
21,363,700 13,870,307
St. John
7,837,351 —16
6,585,673
22,486,030 —16
18,692,392
Calgary
+7
London
6,691,850'
7,207,350
Victoria
14,133,320 16,254,589 —13
Edmonton
18,306,531 —13
15,770,803
9.401.192 —10
8,381,642
Regina
Brandon
2,608,703 —11
2,230,269
Saskatoon
9,122,020 —32
6,136,479
Moose Jaw.
5,118,419 —20.
4,054,051
2,671,035 —29
Lethbridge__
1,875,305
+4
Brantford
2,250,882
2,355,449
+ 33
Fort William
3,002,987
4,015,469
Montreal
Toronto
_
__
2,365,000 Not incl. In
2,308,663 Not lncl. In
New Westm.
MedlcineHat
Tot. Canada 678,015,455 749,168,070
total
total
—9.6
1,862,959,716 1,826,779,373
1,417,680,121 1,421,426,575
939,503,459
407,692,137
convention in June
Maryland Bankers' Association, has been printed in
Savings Bank of Chicago at the annual
pamphlet form.
Clarence
Buckingham,
a
.
director of the Corn Exchange
Illinois Trust & Savings
Bank, died on the 28th ult. of heart disease.
Mr. Bucking¬
ham was formerly President of the Northwestern Elevated
RR. Co. of Chicago.
He was fifty-eigit years old.
National Bank of Chicago and the
♦
Louis
with the Title Guaranty Trust Co. of that city (which oc¬
curred in 1909) is held to have been legal under a ruling of
Judge Grimm of the Circuit Court on Aug. 26.
The decision
was given in an action brought by George E. W. Luehrmann
The merger of the
Lincoln Trust & Title Co. of St.
+2.6
—1.9
—23.4
134,158,628
+ 8.3
107,742,022
+6.1
67,954,282
106,221,498 + 19.C
125,245,454
—2.8
56,529,720
64,922,330
—8.7
172,637,271
157,718,866
54,185,380 + 12.8
61,124,028
+6.7
115,355,519
121,864,349
+3.1
135,788,545
139,982,123
+20.5
68,140,114
82,088,748
—0.6
19,503,264
19,387,119
—8.8
69,444,873
63,331,386
+3.0
37,951,838
39,090,431
21,138,892 —16.1
17,740,223
19,444,531
+ 9.6
21,306,711
25,785,884 + 19.7
30.860.610
19,975,430 Not Included In total
11,121,988 Not included In total
5.872,352,743 5.818,898,696
+0.9
clearings for the week ending Aug. 30 in comparison
with the same week of 1912 show a decrease in the aggregate
30.
Clearings at—
Inc. or
1913.
Canada—
Montreal
-
Toronto
Winnipeg
Vancouver
Quebec
Halifax
Hamilton
St.
1912.
Dec.
1911.
John
Calgary
London
Victoria
Edmonton
Regina
Brandon
Saskatoon
Moose Jaw
Lethbridge
Brantford
Fort
William.
New
Westminster
Medicine Hat
Total Canada
44,450,697 52,732,123
37,105,643 35,000,000
21,422,045 24,187,670
10,014,505 12,995,064
5,615,515
3,353,148
2,624,203
3,043,714
1,651,658
1,781,093
2,892,350
3,000,000
1,732,093
1,467,367
5,154,835
3,937,230
1,336,195
1,436,721
3,178,528
2,984,895
4,475,853
3,219,752
1,792,086
1,633,076
627,687
448,027
1,941,667
1,341,992
1,139,672
971,274
530,896
434,886
407,486
653,792
742,093
958,757
504,883 Not lncl. In
531,756 Not lncl. In
143,568,614 161,399,767
1910.
9
$
Ottawa
.
fa
—0.3
The
and
delivered by George B. Caldwell,
& Commercial Trust &
»
915,387,317
415,479,770
175,135,569
99,505,271
64,057,492
of 11%.
•
Vice-President of the Continental
of the
Dec.
%
Canada-
'—
"The Investment Banker of To-day
1912.
1913.
Dec.
Week ending August
An address
6,382,273
4,370,117
3,724,838
Canadian Bank Clearings.—The clearings of the Cana¬
__
♦
of J.
1911.
2,418,251
1,200,748
1,609,841
dian banks for the month of August
George H.
and Harry H.
Mr.* Ulrich was
Ulrich is Vice-President of the new company
Larkum is its
3,240,011
2,001,400
2,865,397
9,066,190
7,677,601 7,760,248 5,548,311 32,007,072 29,051,152 19,606,068
Total
institution is Joseph H. King, who
merger
August 311912.
3,623,632
2,155,363
3,073,628
8,585,838
7,891,903
At the 1913 session of the Legislature
made $500,000.
American
stockholders,
under whioh the
Safe Deposit & Trust Co. had a capital of $250,-
the People's
000 and
capital of $100,000 and deposits of $400,000;
a
them,
Kinsey of the Circuit Court.
■
Frederick E. Armbruster, Third
Manager of main office;
decided against
was
majority stockholders took advantage of the minority are
not sound.
for
President;
action
The
$35,000.
shares), which they held to be
Judge Grimm having ruled that their contentions that the
William C.
Heppenheimer,
They brought suit for the
Guaranty Trust Co.
the Title
value of their stock (in all 244
the officers of the consolidated institution:
President;
the Lincoln, who had
the merger, and
exchange their stock for stock of
B. Fulton, stockholdtrs of
refused to sell their holdings at the time of
Co. will be known
are
643
CHRONICLE
—15.7
37,296,939
30,000,000
17,784,373
—22.9
9,568,072
—40.3
3,509,950
+ 15.6
2,397,514
+ 7.9
1,432,631
+ 3.8
2,227,007
—15.3
1,241,052
—23.6
3,435,473
+ 7.5
997,008
—6.2
2,322,041
—28.1
1,904,469
—8.9
1,289,080
—15.0
416,792
—30.9
1,236,655
—14.7
692,740
—18.1
472,307
+ 35.8
470,139
+ 29.1
+ 6.0
—11.4
36,895,783
24,832,702
14,294,883
8,402,101
3,164,005
2,143,232
1,458,016
1,829,183
1,383,809
2,369,154
909,759
1,850,000
1,384,597
806,611
414,201
total,
total.
—11.0 118.694.242 102.138,03
644
CHRONICLE
THE
Pacific and Other Western
Clearings brought forward
Eight Months 1913.
tion.
Par Value,
Eight Months.
Stock/Sh's.
1913.
1912.
Dec.
%
Francisco
207,500,588 226,131,879
Los Angeles-__
86,772,660 94,210,629
Seattle
53,756,974 51,254,356
Portland
45,503,369 45,017,462
Salt Lake City 24,571,567 26,688,969
an
Spokane
%
+ 1
—7
-—4
14,622,544
9,774,876
9,490,068
3,468,405
3,218,040
3,741,996
3,263,689
1,314,509
2,947,383
17,293,646
10,827,319
17,124,715
8,274,492
10,783,749
3,819,672
3,229,500
3,640,190
3,386,740
1,429,223
2,944,951
Reno
1,118,433
1,259,755
2,530,355
2,836,404
+ 7.9
757,340,320
386,621,631 + 10.0
+ 5.1
382,722,210
250,128,393 —18.1
—2.8
144,225,449
+ 5.0
87,593,703
—1.9
129,306,385
55,998,661 + 22.9
84,906,245 + 11.4
+4.5
28,125,531
+ 3.1
21,766,514
—10
10,996,184
__
Oakland
Sacramento—
San Diego..._
Stockton
._
San Jose
Fresno
Pasadena
Yakima
North
Boise
....
+i
—14
+ 18,
—12
—9
—0
+2
—3
—8
+0
To^al Pacific 501,174,984 530,161,651
City.. 237,198,763 222,297,228
Minneapolis
89,453,553 82,565,355
72,439,248
40,738,847
Denver.
38,050,000
32,250,704
17,938,556
St. Joseph
Des Moines._
Sioux City—
Topeka
12,726,158
15,687,669
16,256,896
7,341,592
Lincoln
8,784,484
Davenport—
69,810,565
42,930,592
38,173,669
31,580,143
18,593,878
12,341,297
15,608,795
12,377,409
6,457,471
7,191,500
6,262,680
5,067,344
3,449,068
1,507,277
2,326,225
2,612,728
1,471,544
5,783,274
3,959,904
1,598,759
925,004
1,429,188
3,212,676
1,353,000
6,683,937
6,120,340
Wlchita
Duluth...
Cedar
Rapids.
Colorado Sp'gs
Fargo
Sioux
Falls.
3,245,468
1,680,945
2,860,000
_
Pueblo
2,591,650
1,849,876
6,659,457
Fremont
Waterloo
Helena.
4,466,898
1,420,706
950,000
Aberdeen
Hastings
Billings
.Jo pi In
1,652,712
3,040,528
1,509,200
...
drand Forks..
Tot.Oth.Wes. 633,598,187
+3
—0
+2
—3
+3
+0
118,906,657
+ 31
128,082,434
57,845,614
65,647,783
61,639,822
56,341,750
22,441,803
15,594,247
24,673,911
22,132,473
12,150,077
55,969,114
35,011,511
14,065,028
7,124,835
12,874,104
25,963,361
11,914,900
+ 13
+ 22
+6
+20
—5
+ 10
+ 22
—0
+ 25
+ 15
+ 12
—11
+2
+ 15
—5
+ 11
New
York
1913
and
Stock
is
$
H
z&s
Los Angeles
.
Seattle
Portland
8,748,973
6,763,632
7,229,732
4
£
o
'A
+ 5.0
April
—7.7
May
—1.3
June.
%
+ 2.5
Salt Lake City..
Spokane
Tacoma
809,787,850
617,315,100
Oakland
Sacramento
+ 9.0
970,876,425
958,417,280
7,086,544
621,704.400
602,463,418
620,004,816 14,552,052 1,334,837,225 1,312,748,973
738,652,100
486,456,000
872,946,225
716,498,976 15,959,338 1,452,962,700 1,438,401,408
470,216,409 13,662,747 1,233,734,950 1,210,479,868
833,496,241 7,219,721
645,234,075
622,417,928
2,098,054,325 2,020,211,626 36,841,806 3,331,931,725 3,271,299,204
46,257,298 4,164,561,775 4,041,560,214 69,386,540 6,259,349,775 6,144,928.881
July.
Aug.
5,124,015
6,086,374
473,143,325
560,758,950
444,217,869 7,158,324
520,713,458 •8,952,348
MONTHLY
+ 18.2
San
Diego..,—
Stockton
+ 33.4
+ 0.3
+ 6.0
46,206,407
30,901,220
Clearings,
+ 13.3
+ 29.0
+ 8.8
1913.
Clearings Outside New York.
1912.
$
$
Jan
..
Feb
..
San Jose
Fresno
16,216,112,572 15,095,690,133
13,592,103,363 12,893,884,278
14,106,494,182 14,449,044,153
+ 7.4
+7.5
'
—15.8
3,462,109
3,182,739
+ 19.3
603,192
+ 7.8
—7.6
5,122,832
3,889,096
2,890,037
1,212,481
1,400,000
801,033
550,000
592,199
+ 3.0
9,224,939
9,516,948
333,076
300,000
1,170,174
1,050,000
1st qr. 43,914,710,127 42,438,618,564
+ 3.5 18,895,138,716 17,873,434,439
+5.7
14,271,837,391 14,967,196,152
May.-. 14,095,951,716 14,814,311,397
J'ne
13,693,384,418 13,628,381,617
—4.7
6,216,506,416
6,137,040,634
+ 1.2
—4.9
6,133,432,994
5,939,873,967
6,034,533,909
5,667,290,156
+ 1.0
+4.8
.
+ 0.5
Hastings
375,000
195,000
BlUings
358,271
3,103,548
1,298,557
1,456,731
1.458.742
1,027,758
500,000
289,273
,463,418
289,034
1.324.743
777,763
398,662
186,957
280,765
138,144,619
12$,962,050
—
_.
Lincoln
Davenport
Cedar Rapids.
__
Springs
Fargo.
Pueblo
Fremont.
Waterloo-_r
Helena
-
.......
Tot. Oth. West
883,167
1913.
$
$
.
1911.
1912.
$■
7,486
1,233
7,384
1,113
6,462
1,077
10,579
5,431
5,637
2,705
1,982
1,723
1910.
$■;• V:
$
65,544
10,044
6,006
5,299
2,626
1,833
1,725
62,898
644
6,762
1,245
61,492
9,171
5,146
5,146
2,507
1,691
1,553
67,300
9,349
5,536
5,163
2,437
1,732
1,514
204
226
201
106
98
93
880
916
849
830
Baltimore
145
176
139
123
1,325
1,272
237
222
195
214
1,834
1,712
1,154
1,669
1,037
1,701
100
95
666
670
Boston.
561
Pittsburgh
San Francisco
i
+2.0
+ 9.3
+4.0
+4.9
+6.8
+ 7.2
+ 5.7
+ 22.5
+ 18.2
+ 1.0
445,000
676,105
519,705
315,630
1,097,205
15,705,077
9,005,895
8,667,164
5,789,264
3,136,371
3,094,876
3,063,402
3,389,207
1,144,111
1,388,855
.1,676,495
900,000
450,000
,
City
,
204
•
196
743
85
851
New Orleans......
67
77
79
64
613
674
654
Minneapolis......
89
83
75
87
770
652
617
693
53
51
52
477
491
460
457
126
109
88
79
880
740
635
617
.60
55
54
472
454
87
94
79
62
817
757
617
533
29
32
30
30
276
288
267
267
72
70
62
65
586
558
497
556
48
48
43
41
407
372
339
335
41
43
40
44
333
361
342
373
Cleveland
Louisville
'■
Detroit
....
Milwaukee
Los
....
Angeles.
Providence
.......
Omaha
Buffalo
i
St. Paul.:
53
.
33
35
Indianapolis
85
38
>
53
41
510
-v
290
1
■1
295
291
625
429
314
Denver
38
38
36
38
309
313
290
319
Richmond
29
35
31
27
268
289
258
255
22
23
18
18
245
250
211
194
567,918
484,256
389,944
990,000
Seattle
54
51
46
49
425
386
355
399
Hartfbrd
19
18
17
16
169
166
151
149
Salt Lake City.—
25
27
25
23
205
250
■206
213
977,950
400,000
190,000
96,638
Other cities
+27.8
296,477
200,318
246,352
+9.7
120,285,572
133,779,243
'
+4.4
+ 13-2
+27.8
;+0.3
+ 13.6
'
■'
869,056
—5.9
+4.3
Memphis
Total.
Total
;
—
—
all
11,408
12,260 11,751
948
970
...
Outside New York.
12,378
5,616
■
912
<3
13,208 12,663
5.722
5,279
10,691 103,425 105,049
847
8,465
7,954
.
98,063 103,987
7,666
7,282
11,538 111,890 113,003 105,729 111,279
5,077
48,992
47,459
44,237
43,979
mictavnjg ©pram cvcui i a ttglisltf£e*us
■^rtTjTjyvuV\nATW>>%iYV'*iVVVVVVVVVV'»'' » «
'
[From Our Own Correspondent.
.
«
'
London, Saturday, August 30 1913..
There is a much more hopeful feeling in the city this week
than there has been for a long time past.
Perhaps the most
>
Clearings—Returns by Telegraph.
Week ending Sept. 6.
Per
1913.
Chicago
St. Louis
Orleans
Seven cities, 5 days
Other cities, 5 days..
cities, 5 days
All cities, 1 day
,
week.'...*
$1,807,015,633
470,137,621
$2,435,656,781
■. 499,984,267
Philadelphia
Baltimore
$1,254,556,167
115,814,292
110,945,517
27,173,723
216,749,417
68,749,675
13,026,842
$1,955,552,673
480,104,108
Boston
1912.
$1,407,825,289
95,711,418
123,889,287
25,661,442
226,070,427
63,272,286
13,122,524
New York
$2,277,153,254
514,544,598
*—2.8
$2,935,641,048
$2,791,697,852
+5.2
Cent.
+ 12.2
—17.4
+ 11.7
—5.6
+4.3
—8.0
+ 0.7
+ 8.2
+ 2.1
+ 7.0
monthly detailed statement of transactions on
Exchange is appended.
The ^results
eight months of 1913 and 1912
encouraging sign is afforded by the large investment that is
going on in sound securities which came out in such large
numbers a little while ago, but which were not subscribed
for by the public.
Some of those issues were thoroughly
good and, under more favorable circumstances, would have
been eagerly taken by the public.
But, under the influence
of the war scare and the fear that underwriters were being
hard pressed, and, consequently that the money market in
the autumn would be a troublesome one, the public held
aloof.
Now the investment is relieving the underwriters.
Threr has been a marked improvement in quotations, showing
that the public is quietly and unostentatiously absorbing
what a few months ago it refused to touch.
We are in the dullest time of the year in London.^ Nearly
everybody who can get away is holiday-making and bankers
as yet are pot very willing to lend, especially for
anything
that looks like speculative business.
Therefore,, the steady
f
...
the New York Stock
for the
1910.
$
234
leading cities.
Our usual
1911.
$
101
Clearings by Telegraph—Sales of Stocks, Bonds, &c.
subjoined table, covering clearings for the current
week usually appears on the first page of each issue, but on
account of tne length of the other tables is crowded out once
a month.
The figures are received by telegraph^from other
cities for
1912.
$
.1._
New York
Cincinnati
—The
Total all
Jan. 1 to Aug. 31-
August
1913.
;
omitted.)
208
1,004,223
Duluth
2,712,280
3,323,763
BANK CLEARINGS AT LEADING CITIES.
(000,000s
218
+35.1
Sioux City.
clearings at leading cities of the country
for the month of August and since Jap. 1 in each of the last
four years is shown in the subjoined statement:
281
+ 6.9
—14.3
Des Moines
Wichita.
+2.8
—1.9
580
18,439,257
13,860,749
7,772,712
8,027,544
5,950,965
3,111,992
2,157,156
2,855,292
2,704,917
1,584,142
1,339,296
1,241,700
St. Joseph......
of bank
course
6,024,708,041
5,722,100,185
587
+ 10.1
Denver
The
6,191,655,044
5,615,695,385
588
49,161,931
23,109,889
'
.
291
45,569,779
Qmaha
_
641
+ 13.7
Minneapolis
—2.9
—6.3
July
322
46,553,957
18,991,342
15,116,879
8,666,726
7,500,000
6,485,110
3,756,042
St. Paul—.—
13,536,575,068 13,945,790,270
Aug.. 12,377,889,889 13,208,383,745
628
52,924,786
20,913,501
15,423,806
9,475,728
7,798,596
6,803,433
4,013,498
2,907,912
3,514,327
3,801,037
1,535,129
1,556,255
1,250,000
1,388,418
505,000
301,935
524,859
369,384
1,328,577
Total all
+4.1
633
97,668,350
New
+ 2.5
+0.1 37,184,952,093 35,712,299,138
304
100,848,849
Aberdeen
+ 3.1 18,289,813,377 17,838,864,699
85,975,883,652 85,858,507,730
Philadelphia...
—5.6
Colorado
42,061,173,525 43,409,889,166
St. Louis
111,670,887
Topeka—
qr.
mos.
709,411
500,000
378,000
280,000
280,000
City
+9.8
+3.8
+3.0
Kansas
—9.3
105,462,810
Kansas
6,260.108,594
Chicago
Total Pacific..
Reno
6,877,371,366
5,797,459,068
6,220,308,282
+ 5.4
—2.4
%
559,649
582,779
Yakima..
North
$
5.581,235,914
6,032,089,931
Mch__
1910.
640,000
288,070
303,000
...
1912.
$
2d
+ 6.7
658,974
310,695
Pasadena
1913.
%
+ 3.1
2,373,991
+4.8
CLEARINGS.
Total All.
+ 24.9
24,322,053
"11,553,900
—6.5
—3.7
620,416,209
790,416,208
Month.
+ 21.1
10,901,153
6,548,683
10,308,789
674,434
760,999
641,305
804,129
654,771,350
811,891,750
—3.7
—22.5
+ 13.1
*+39.8
$
800,879,464 10,906,138
600,464,308
639,404,500
8,463,226
5,463,561
9,588,174
2d qr 23,514,961
6 m's
+ 11.2
+ 13.0
$
—11.7
Actual.
$
+ 30.2
44,436,281
13,603,393
+ 9.4
Par.
+ 9.4
46,047,669
15,723,327
10,245,868
9,682,768
4,603,888
3,489,320
+ 11.5
Shares.
+ 2.9
+ 13.5
47,669,867
23,280,076
20,117,430
18,497,690
22,055,697
11,459,510
1911.
—23.7
Values.
of
Actual.
lstqr 22,742,337 2,066.507,450 2,021,348,588 32,544,734 2,927,418,050 2,873,629,677
6
—5.2
in
1
i
—3.0
116,043,781
98,346,555
52,963,319
59,012,692
54,532,628
%
48,119,899
22,313,088
10,852,021
8,889,259
5,445,841
3,550,000
2,262,030
3,537,052
1,415,203
1,948,422
725,105
707,463
45,638,533
17,014,257
12,103,744
9,727,981
4,808,142
3,320,991
2,558,402
2,979,504
1,978,467
1,876,687
the
on
STOCK EXCHANGE.
Number
Par.
—1.2
Inc. or
San Francisco—
$8,039,951,460_97.7
properties
1912.
Values.
$
—2.3
Week ending August 30.
Dec.
share
Mth.
of
Shares.
+5.4 5,138,239,084 4,780,615,627
1912.
in
1913.
at—
1913.
Price.
Exchange each month since Jan.
indicated in the following: '
__
Clearings
Aver.
Value.
96.3 $8,227,624,975
transactions
SALES OF STOCKS AT THE NEW YORK
April
600,886,573
of
1912
+ 12.0
+ 2.1
—5
volume
The
Actual.
Quantity.
96.3
Total.—$5,546,806,750 $5,340,909,711
30,176,784
13,378,828
26,043,464
9,351,217
21,669,915
+ 7.1
+ 18.0
+ 8
_.
Omaha
St. Paul
Bank stks.
or
313,556,099 96.1,
1,351,515 101.6
19,276,590 93.6
1,330,100
20,605,700
112,300
State bonds
Number
1,834,149,768 1,712,056,733
652,198,135
769,857,461
557,799,412
585,791,612
361,137,887
333,340,390
309,173,514
313,400,258
269,440,059
261,780,900
175,277,644
154,404,473
112,829,212
103,116,679
+6
bds.
+ 15.6
-5.5 4,282,420,512 4,192,928,928
Kansas
Price.
Par Value,
85,497,222
$7,726,012,875 $7,555,761,298 97.8
482,986,500
465,402,369 96.4
1,090,446 103.3
1,060,000
16,674,185 97.3
17,142,600
233,966 208.3
423,100
1,023,162 241.8
326,294,600
29,605,251
9,236,008
21,029,803
Value.
57,467,687
bonds
—4.9
—11
Ogden
817,131,391
424,778,526
402,131,373
204,828,295
140,169,716
91,956,448
126,862,241
68,826,120
94,611,777
29,485,049
22,445,425
34,423,555
33,795,257
12,723,209
25,449,489
+4,
'
16,583,344
Taooma
—0.7
1,722,536,830 1,734,568,427
—7,
..
RR.
Gov't
•
—8
.
Dec.
1912.
1913.
Aver.
\Val $5,198,464,050 $5,006,491,541
Inc. or
Inc. or
Eight Months 1912.
Actual
Quantity.
or
August.
xcvii.
Descrip¬
from first page.
Clearings at—
[Vol.
are
given below:
Sept. 6
advance in these securities is a notable and
sign, and seems to indicate that unless something unforeseen
happens there will he a much better business when holiday
time is over than appeared at all likely a little while ago.
!The political anxieties have largely disappeared and the daily
newspapers,
which the other day filled columns with tele¬
grams from the capitals of the belligerent States, have now
ceased to publish anything of the kind.
Money, too, is decidedly easier.
According to Thursday's
return of the Bank of England, the coin and bullion held by
that institution amounted to £43,160,000, which is in excess
of anything recorded for many years.
Of course, it is true
that a good deal of the metal has come back from the internal
circulation, and that it will go out again during the autumn.
But, mainly, the increase is due to the large receipts from
are
autumn will not
Imports of flour........
Sales of home-grown
Average price, season
Aug.
V.'.v.
'
Circulation
Public
_
1911.
Aug. >28.
Aug. 30.
£
27.
£
29,248,970
£
•
Wheat..
Gov't securities.
Other securities
45,416,619
13,367,655
36,369,903
30,993,930
41,767,225
12,672,873
27,672,873
Reserve,notesAcoin 32,361,610
Coln&bull.,both dep.43,160,580
Prop, reserve to lia¬
bilities
p. c.
49?*
28,626,100
17,186,837
40,547,468
29,718,445
8,861,043
46,471,768
39,931,479
15,328,442
29,328,339
28,928,108
40.196,553
51?*
3
♦4
52?*
.3
75 7-16
27 ?*d.
'
——
\
56 5-16
'
24 3-16d.
2%
-
returns255,204,000 235,330,000 211,423,000 261,950,000 261,145,000
Clear .-house
•August 29.
The rates for money have
been
4?*
3?*
15.
4%
Aug.
'
470,000
V
j
;;
daily closing quotations for securities, &c., at London,V
The
reported by cable, have been
•
follows the past week:
as
London,
Week ending
Sept. 5.
d Consols, 2?* per
cents
Preferred
.
—
Preferrred.
61?*
14?*
110 .
20?*
35?*
30?*
20?*
48?*
38
131?*
47?*
38
130
129?*
47?*
36?*
129?*
112
111
111
139?*
139
23
138?*
23
.
110?*
....
....
29?*
47?*
47?*
preferred
preferred
Second
Great Northern,
Illinois Central.
preferred-131
....
;
23?*
Preferred
—-
Missouri Pacific.....
—
1... 15?*
preferred
....
16?*
100
N. Y. Central & Hud. Riv..
99?*
N. Y. Ontario & Western... 31
Norfolk & Western..
108
Preferred
-
115?*
...115?*
Pacific...
Pennsylvania.
Reading Company
—
...
preferred
Second preferred
58
83?*
84
First
....
...
18?*
18?*
92?*
25?*
....
Railway
—
156?*
156?*
65?*
Pacific
Preferred
65?*
—.—...
U. S. Steel Corporation
Preferred
....
Wabash
4?*
-
Preferred
...
4s
Extended
-i
'
14
108?*
j,
20?*
35?*
29?*
V
29?*
43
15?*
98?*
30
107?*
114?*
113?*
57?*
82?*
43?*
57?*
82
43?*
44?*
17?*
-
18?*
93?*
92?*
25?*
24?*
17?*
93?*
25
82
.
"
86
....
58
83
43?*
44?*
25?*
82?*
157?*
84
65?*
111?*
4?*
13
55%
—
6i
58
98
30?*
107?*
114?*
18?*
93?*
93?*
Southern
Island
29?*
43
15?*
108
86
V :
226
58
30?*
43
15?*
98
30?*
.58
84
43?*
44?*
....
98%
84
20?*
35?*
29?*
47
,
59
,
100
31
108
86
115?*
....
v....— *
•
23?*
31?*
44
16?*
.
Nat. RR. ofMex., lstpref..
.
35?*
29?*
112
139?*
23?*
58?*
—.......112
139?*
Louisville & Nashville
Missouri Kansas & Texas...
Union
60?*
14
108?*
227?*
" 225?*
61
-29?*
Erie
a
61?*
14
109?*
99
84
20?*
Grande
Denver & Rio
Rock
227
99
....
223?*
Pacific..
61?*
14?*
Chicago MIIw. & St. Paul-110?*
a
>
99?*
98
99?*
84
Ohio........... 99?*
Chesapeake & Ohio
Chicago Great Western
Northern
97?*
99?*
98?*
84
226?*
99?*
99?*
Topeka&SantaFe... 99
Second
97?*
73 9-16
89.52?* 89.57?*
78%
78%
69?*
69
7%
7%
73%
73%
Preferred
Baltimore &
First
J"
89.57?*
79%
71
7%
99
88.95
Amalgamated Copper Co... 77?*
Am. Smelt. & Refining
& Anaconda Mining Co
Canadian
73?*
89.90
78%
69
7%-
89.45
78%
c73H
—.74?*
dFor account
d French Rentes (in Paris) fr.
Atfeh.
Thurs.
Fri.
27 9-16 27 7-16
73?*
73 7-16
Tues.
Wed.
27 9-16 27 9-16
73 11-16 73 9-16
Mon.
27?*
c73 9-16
Sat.
d_ 27?*
74?*
Silver, per oz...
a
,
175,000",
English Financial Markets—Per Cable.
—r-6 months
3?*@3H
4?* @4?*
4>*@4 X
Trade bills—3 months
_
b £ sterling,
'
flat prices.
82
'
.
82
155%
154?*
84
55
84
64?*
111?*
4?*
13
•
54?*
•
*
154?*
84
64?*
111?*
4?*
13
v
.
64?*
111?*
4?*
11?*
54?*
*
.■;>
c
Ex-dividend.
5 d Quotations here given are
.
©nmmcrjctal atttlflliscrlljmeotts Hews
Breadstuffs
3%@3 13-16
3 13-16 3 13-16 @3 ?< 3?* @3 15-16
4
4@4?f
4 1-16
4?*@4?*
4 5-16@4«
4?*
4?*
4?*
4?*
:■
■
4 3-16@4?*
4
...
Price per share,
a
8.
4?*
3 15-16 3 15-16
—4 months
—4 month?
3 9-16
3H
—3 months
Aug.
4>*
3 5-16
•
Open market rates—
Bank bills—60 days
•
2,680,000
170,000
1,160,000
.
follows:
as
Aug. 22.
Aug. 29.
Bank of England rate
■
140,000
1,620,000
i
1910-11.
2,350,000
' 2,475,000
130,000
1,505,000
1911-12.
81 V-.
84?*
24?*d.
23 13-16d.
78?*
28 13-16d.
74
Consols, 2?* P. c—
Silver
£
15,874,770
30,363,386
29,755,379
qrs.
....qrs.
Maize
d
?
V
.
Last week.
2,180,000
qrs.
—
Flour, equal to....
Preferred
£
\
138,929,644
32s. lid.
32s. 6d.
'
59.46
4?*
p. c.
Bank rate
Sept. 1.
31s. 8d.
30s. lid.
shows the quantities of wheat, flour and';
Southern Pacific..
1909.
31.
Aug.
29,980,190
10,792,779
42,811,936
14,597,624
26,831,234
30,202,274
41,732,464
29,193,295
17,233,510
9,986,409
44,416,050
deposits
Other deposits
1910.
1912.
1913.
;
This week.
Amongst the best-informed it is believed that the receipts
lacs at prices ranging
Applicants for bills
at Is. 4 l-32d. per rupee were allotted 98 per cent of the
amounts applied for.
Next week 60 lacs will be offered.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of Consols,
&c., as compared with the last four years:
35s. 6d.
34s. lid.
1
maize afloat to the United Kingdom:
of
and the applications amounted to 557%
from Is. 4d. to Is. 4 l-32d. per rupee.
33s. 7d.
32s. Id.
.......
The following
as
gold from South America has stopped, or very nearly so.
a report that the Brazilian Government is tryingto
get back a portion of the gold it has parted with;
but the
report is not credited.
It is also hoped that money in the
United States will be so plentiful and cheap during the
autumn that New York will be able to supply Argentina
with as much gold as it may require.
In that case London
will be called upon only to provide for the needs of Egypt
and India,'together with accidental applicants like Turkey,
which do not amount to very much.
The Egyptian demand
has already begun.
The best opinion is that it will amount
to at least eight, and probably to ten, million sterling, for
the cotton crop promises to be exceedingly good, and there is
a more hopeful feeling in the country than there has been for
some years.
Regarding India, it is impossible yet to form
an opinion, for the monsoon rains will continue, at all events
it is hoped that they will continue, for the greater part of
September, and until they are over it is not likely that the
gold demands will become very large.
The India Council offered for tender on Wednesday 50 lacs
1909-10.
1910-11.
97,574,800 101,315,240
9,870,300
10,702,619
23,892,985 26,911,785
99,101,400
9,983,600
23,284,951
.143,886,349 132,379,951 131,338,085
Total
Average price of wheat, week
grounds, therefore, for hoping that the
much stringency as was apprehended
There is
" '
1911-12.
1912-13.
cwt.111,183,900
11,176,100
21,526,349
Wheat imported
see as
little time ago.
a
September 1):
If the market acts with
South Africa and South America.
prudence, there
Supplies available for consumption (exclusive of stock on
encouraging
an
645
CHRONICLE
THE
1913.]
Figures brought from
statements below
are
prepared by
us
the New York Produce Exchange.
lake and river, ports
since
page
676.—The
n
from figures collected by
The receipts at Western
for the week ending last Saturday and
August 1 for each of the last three
years
have been:
Interest allowed for deposlts3
3
3
3
3
By Joint-stock banks.....
3
3
3
At
call...
-
7 to 14 days
3*
...
Pixley & Abell write
Messrs.
Aug. 28:
...
'
as
follows
3?*
,
under
ZVl
date
of
arrived this week.
of £200,000 has been bought for the
India has taken £200,000,
Continent, while the Bank of
£250,000 and Ecuador £30,000.
expect £754,000 from South Africa and
Africa, £819,000; West Africa, £88,500;
£121,000 from India.
Next week we
Arrivals: South
East Africa, £10,000; Brazil, £14,000
China, £5,000; total, £936,500.
Shipments: Bombay, £207,250.
SILVER.—The undertone of the market has been very steady, and prices are
3-16d. higher on the week at 27?*d. for cash and 27 ll-16d. for forward. A fair
amount,of business has been transacted, China again buying moderately throughout
the week, while the Indian Bazaars have sent buying orders for the September settle¬
ment, steamer leaving to-morrow. It is probable that this shipment will be large,
upwards of £400,000 being mentioned as the amount going.
On the other hand,
the Bazaars have made some sales of forward silver against their cash purchases.
This week's Indian currency returns showed a decrease of one crore in the currency
reserve, the total holdings now standing at 24.75 crores, as against 17.47 crores on
Aug. 26 1912.
At the close the market is steady.
Arrivals: New York, £155,000.
Shipments: Bombay, £66,500; Shanghai, £20,000; total, £86,500.
quotations for bullion
Aug. 28.
GOLD.
Bar
s.
77
gold, fine, oz
are
reported
5.
77
9
as
Aug.28.
d.
London Standard
9
Bar silver, fine, oz
"
2-mo. delivery,
oz
d.
d.
27?*
27 5-16
oz__27 11-16 27?*
29 11-16 29?*
shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
IMPORTS.
Fifty-one weeks.
Imports of wheat—
—
Oats.—
1912-13.
cwtlll.183,900
21,724,900
—
Peas.-Beans
Indian corn..
Flour
——
...
1,142,000
3,616,000
168,000
110,000
378,000
344,000
146,000
85,000
360,000
595,000
538,000
391,000
808,000
342,000
170,000
195,000
817,000
274,000
408,000
491,000
_.
19,750,600
4,156,772
1,131,855
48,341,800
11,176,100
1911-12.
99,101,400/
21,204,000
18,128,500
4,963,746
1,025,510
30,402,200
9,983,600
1910-11.
19,419,700
2,273,882
701,097
2,2S1,108
1,985,554
44,695,700
34,055,958
10,702,619
9,870,300'
38,000
28,000
St.
..
Louis—
Peoria
Kansas
8,000
11,000
76,000
113,0Q0
17,000
833,000
23,000
627,000
40,000
City
Omaha
.
3,338,000
7,608,000
1,461,000
3,387,974
7,179,627
1,359,096
401,000
537,092
5,023,601
4,629,996
3,550,240
1,407,660
235,745
1,896,000
1,477,882
1,580,682
47,548,000
38,089,585
28,442,190
13,298,000
12,401,420
15,727,596
33,048,000
4,841,000 1,652,000
25,603,762
3,557,593,1,391,834
22,314,020
3,946,290
1
1912
1911
Aug. 30 1913 follow:
Flout,
York
Wheat,
Barley,
Ry$i
bush.
bush.
bush.
bush.
77,000
4,000
23,000
24,000
64,000
1,000
8,000
469,000
49,000
131,000
11,000
1,000
1,000
214,000
66,000
2"66O
YI~,66O
244,606
ii8~o66
42,000
43,000
199,000
Baltimore
54,000
84,000
653,000
398,000
340,000
Galveston-
Montreal
Oats,
bush.
745,000
169,000
Philadelphia
Orleans*
Corn,
bbls.
203,000
Boston
Mobile
862,653
receipts of flour and grain at the seaboard ports for
Receipts at—
New
29,000
19,000
300,871
Same wk. *12
Same wk. *11
New
2,000
14,000
313,058
389,000
Total
515,000
5,000
6,865,000
8,414,122
Tot.wk/13
Since Aug.
1913
"
'
55,000
52,000
63,000 '
42,000
191,000 -
10,000
28,000
9~5~5~666
6,000
1909-10.
97,574,800 101,315,240
19,602,500
21,631,200
16,259,800
1371666
406,000
Cleveland
Rye.
351,000
572,000
1,995,000
Toledo
Detroit
Barley.
bush. 32 lbs. bushA8lbs. bu.56 lbs.
276,000
Minneapolis
Aug. 21.
The following
Barley
Oats.
Corn.
1,892,000
186,000
68,000
the week ended
follows:
SILVER.
Aug. 21.
d.
Cake silver,
.
.
Duluth..—
Turkey has taken £200,000, Egypt
The
Chicago
Milwaukee
England should secure the bulk of the balance.
Since the 21st Inst, the Bank has
received £481,000 in bar gold and £320,000 from South America in soveriegns.
London Standard,
Wheat.
bbls.l98lbs. bush. 60 lbs. bush. 56 lbs
.
GOLD.—Over £900,000 In bar gold
and upwards
Flour.
Receipts at—
By discount houses—
1913—
464,000
3,459,000
201,000
1,173,000
131,000
19,000
1913.14,496,000 126452,000 43,511,000 38,115,000 .15436000 2292,000
1912..
313,385
3,300,434
222,694
1,604,904
80,498
6,291
Since Jan. 1 1912.11,187,006 79,046,382 26,429,532 33,749,688 3,113,827
308,368
Total week
Since Jan. 1
Total week
♦Receipts do not include grain passing through New Orleans for foreign porta
on
through bills of lading.
>
646
CHRONICLE
THE
The exports from the several seaboard
ports for the week
are shown in the annexed statement:
Per
Name
ending Aug. 30
Wheat,
Boston
Philadelphia
Baltimore
New
Corn,
Flour,
Oats,
Rye,
bush.
bush.
bbls.
bush.
bush.
116,853
235,930
509,000
845,383
989,000
1,991,000
12,941
118,046
2,471
35,740
Exports from—
New York
Orleans
Galveston
American Bank
bush.
2,359
13,000
IK
Oct.
IK
IK
Oct.
K
IK
IK
1,000
44)
Preferred {quar.) {No. 58)
American Cigar, preferred {quar.)
_
—
19,000
10,000
Payable,
Note, preferred {quar.)...
Amer. Car & Foundry, com. {qu.) {No.
-
_
When
Cent.
Company.
American Beet Sugar, pref. {quar.) {No.57)
American Can, preferred {quar.)..
796
33,000
21,702
1,000
75,000
8,000
bush.
24,753
of
xcvii.
Books Closed.
Days Inclusive.
Miscellaneous.
Peas,
Barley,
[Vol.
American
Express
$3
1 Holders of rec. Sept. 15
1 Holders of reo. Sept. 17
Oct.
Oct.
1 Holders of
1 Holders of
rec.
Oct.
1 Holders of
rec.
Oct.
1 Holders of
rec.
Sept.
Sept.
Sept.
Sept.
rec.
18a
11
11
_
Montreal
950,000
—
Total week
_
79,000
6,633,166
..3,415,570
Week 1912
.....
296,219
139,901
96,941
59,212
157,000
194,536
363,248
146,000
-
15a
170,753
31,739
Flour
,
Wheat—
Since
Week
Exports for week and Aug. SO.
since July 1 to—
bbls.
Since
July 1
Week
1913."
Aug. SO.
bush.
bush.
bush.
West Indies
53,476
Brit. No. Am. Cols.
3,931
Other countries
19,350
8,152
32,490
56,299
11,700
20,000
V
;'
296,219 1,730,136 6,637,166 43,297,931
139,901 1,404,646 3,415,570 18,755,006
Total 1912
Booth
The world's shipments of wheat and
ending Aug. 30 1913 and since July 11913 and 1912
in the following:
IK
IK
Wheat.
•
Week
Since
Aug. 30.
July
Bushels.
North Amer.
Russia
shown
360,000
Argentina-
600,000
Australia
904,000
India
1,968,000
Oth. countr's
200,000
Total.
„„
16,576,000
866,000
13688000 103,288,000
Oct.
Sept. 26 Sept. 1
Sept. 26 Sept. 1
Sept. 30 Holders of
Sept. 10 Sept. 4
Sept. 10 Sept. 4
Chicago Telephone {quar.)......
Chllds Company, common (quar.)
2
2K
„
(quar.)...
Chino Copper Co. (quar.)...
Cleveland & Sandusky Brewing,pref. (qu.)
Columbus (O.) Gas & Fuel, pref. {quar.)..
Since
Bushels.
Bushels.
Bushels.
Total.
Continent.
Bushels.
Bushels.
Bushels.
of their
as manager
rec.
Aug. 14a
1 Holders of
rec.
1 Holders of
rec.
Oct.
1 Holders of
rec.
3
Sept. 16 Holders of
Sept. 20a
Sept. 20a
Sept. 19
Sep t. 6
Sept. 16
Sept. 15a
IK
IK
Oct.
Chicago.
DIVIDENDS.
.
'
•
.
printed in italics.
Per
When
Cent.
Payable.
Books Closed.
Days Inclusive.
Sept. 15 Holders of
rec.
Aug. 30a
Oct.
rec.
Sept. 15 Holders
Sept. 15a
Sept. 5
(quar.).
2
Sept.10 Aug. 30
to
Sept. 30 Holders of rec
2 K
Oct.
Oct.
•
.....
Chesapeake & Ohio (quar.)...;
1
Chicago & North Western, com. (quar.).
Preferred
1 Aug. 31
1 Aug. 31
Sept. 30 Holders of
1
1
rec
Oct.
1 Holders of rec
1 Holders of reo
IK
Hocking Valley (quar.)
2
Sept. 20
Sept. 20
Sept.10
Sept. 15
Sept.3C
3 K
Oct.
Delaware
&.Hudson Co. (quar.)...
Pittsburgh, (quar.)
2K
IK
—
1
Minn. St. P. & S. S. M., com.&pf.(No.21)
N. Y. N. H.'& Hartford (quar.)
Norfolk Southern (quar.)
Oct.
Oct.
Oct.
Fonda Johnstown & Gloversv., pref. {quar.)
Holders of
(No. 12)—.—
Oct.
.
rec
.
Holders of rec
Holders o! rec
.
.
Holders of
rec
Holders of
15 Holders of
rec
.
rec
.
Sept. 30 Holders
9
Aug. 30a
to
IK
Chicago Rock Island & Pacific {quar.)—
Erie &
Sept.
,
to
2
(quar.)..
of
rec
1 Holders of rec
.
Sept.. 5a
Sept. 2a
Sept. 2a
Sept. 12
Aug. 28a
Aug. 30a
Sept. 14a
Sept. 5a
Sept. 22a
Sept. 9a
Sept. 15a
Aug. 30a
Norfolk & Western, common (quar.)....
IK
Sept. 19 Holders of
Norfolk & Western adj. pref. {quar.)
Reading Co.; first preferred (quar.)....
1
Nov: 19 Holders of rec. Oct. 31
Sept. 11 Holders of rec. Aug. 26a
St. Joseph South Bend & Southern, com.
1
Common (extra)
Preferred.
1
(No. 28).
IK
Union Pacific, common (quar.)
Preferred
Oct.
to
Sept. 15
Sept. 15 "
to
to
1 Holders of rec.
.
Oct.
1 Holders of rec.
Sept.
Oct.
1 Holders of rec.
Sept.
1 Holders of rec.
Sept.
Oct.
Street and Electric Railways.
American Railways, com. (quar.)
Brazilian Trac., Lt. & Pow., Ltd. {quar.)_
75c.
IK
IK
Brooklyn Rapid Transit (quar.)
California Ry. & Pow., prior pref. (quar.)
Chippewa Vail. Ry., L. & Pow., pref. {qu.)
Oct.
Oct.
Oct.
IK
3
3
1
2K
IK
IK
IK
...
St. Jos. Ry., L., H. & P., pf. {qu.) {No. 44)
Second & Third Sts. Pass., Phila. {quar.).
United Trac. & Elec., Providence {quar.)..
Oct.
West End Street Ry., Boston, common
1 Holders of rec.
Sept. 15
1 Holders of rec.
Sept. 9
1 Holders of rec. Sept.
20a
1 Holders of rec.
Oct.
1 Holders of rec.
Sept. 15
1 Holders of rec.
Sept.
Sept.
$1.75
IK
1
Oct.
1 Holders of
rec.
Sept. 15 Holders of
Sept. 15 Holders of
rec.
Oct.
•
6
2
16
Oct.
to
rec.
26
Sept. 20a
Aug. 30a
Sept. 1
Sept. 15
Oct.
1 Holders of
Oct.
1 Holders of
rec.
IK
Oct.
1 Holders of
rec.
Sept. 15
Sept. 15
IK
rec.
Aug. 22
rec.
2
8ept.15 Holders of
Sept. 30 Holders of
Sept. 30 Holders of
rec.
Aug.
Aug.
Sept.
Aug.
common
-
3
(quar.).....
(quar.)
rec.
rec.
IK
Oct.
2
Oct.
IK
Oct.
15 Holders of rec.
1 Sept. 21
to
Oct.
30c.
Oct.
31 Holders of
rec.
10c.
Oct.
31 Holders of
rec.
1 Holders of
rec.
Extra
,
1
Goodrich (B. F.) Co., preferred (quar.)..
IK
Oct.
Great Lakes Towing, pref. (quar.).
Guggenheim Exploration {quar.) {No. 43).
Helme {Geo. W.), common {quar.)
IK
|Oct.
3
Preferred {quar.)——
Hercules
Powder
Holders of
divs.) ...
C., com. (qu.).
accum.
Internat. Smokeless P. &
...
30
30
19a
30a
1
Sept; 30
Sept. 30
Sept. 20a
1 Sept. 16
Oct.
to
Oct.
1,
1 Sept. 13
to
Sept. 17
1 Holders of reC. Sept. 13
IK
Oct.
1 Holders of rec. Sept. 13
Oct.
IK
Homestake Mining (monthly) {No. 466)..
International Silver, preferrrd (quar.)
Preferred (on account of
1
2K
—.......
,
Sept. 25 Sept. 16 • to
65c. Sept. 25 Holders of rec.
Oct.
1 Sept. 18
IK
to
Oct.
1 Sept. 18
*K
to
S
La Belle Iron Works, common (quar.)
Preferred (qUar.).—.
...
2
Laclede Gas Light, common (quar.)
Lanslon Monotype Machine (quar.)
IK
IK
Liggett & Myers Tobacco, pref. (quar.)
Lorillard (P.) Co., preferred (quar.)
IK
IK
IK
(qu.) (No. 33)
Preferred (quar.) (NO. 39)_._
Mergenthaler Linotype (quar.)...
com.
...
Extra
K
Oct.
Sept.25
Sept. 20
Oct.
1
Oct.
1
1 Holders pf rec. Sept. 20a
5
Nov. 15 Holders of rec. Nov.
Oct.
Sept. 18
K
Montreal Cottons,
New York Transit...
10
North American Co. (quar.) (No.
Ohio Oil (quar.)..
38).
IK
$1.25
j
Extra
-J
_.— —
.—. .
Pabst Brewing, preferred (quar.)
Packard Motor Car, pref. (quar.)
;.
Oct.
1 Holders of
rec.
1 Holders of
rec.
Oct.
1 Holders ot
rec.
1 Holders of rec.
Sept.30
Sept.30
Sept.15
Sept.15
Sugar, common (quar.)
Preferred (quar.)
South West Penn Pipe Lines (quar.)
Standard Gas & Electric, preferred
to
Oct.
to
Aug. 23
to
Holders of rec.
Sept. 16
Aug. 28
Sept. 6
Aug. 30a
Sept. 10
Sept.11
Holders of
rec.
to
Holders of
rec.
15 Holders of
rec.
29 Holders of
rec.
20 Sept. 7
30 Sept. 10
to
to
1 Holders of rec.
15 Holders of
15 Holders of
rec.
1 Holders of
rec.
rec.
to
1
Oct.
1 Holders of rec.
Oct.
1 Holders of
5
Oct.
1 Holders of rec.
2e
rec.
Standard Oil of Ohio (quar.)
3
2
Sept.
108) IIII—IIII
(quar.)
Union Stock Yards of Omaha
United Cigar Stores, pref.
(quar.)
(qu.) (No. 4).
Oct.
1 Sept.,21
Sept. 15 Sept. 6
Woolworth
to
Oct.
to
Sept. 15
(F. W.)
Co., pref. (quar.)..
Yukon Gold Co. (quar.) (No. 17)
Sept. 20 Holders
1
Oct.
IK
IK
Oct.
IK
IK
75c.
2K
transferee.
rec.
of rec.
1 Holders of
1 Holders of
Sept. 1 Aug. 21
Sept. 15 Sept. 3
Sept. 29 Sept. 3
Sept. 30 Sept. 10
Oct.
to
1 Holders of
rec.
rec.
to
to
to
to
1 Holders of rec.
Oct.
1 Holders of rec.
IK
Oct.
1 Holders of rec.
IK
7Kc Sept.30 Sept. 13
to
la
la
Sept. 9
Sept.21
Sept.11
Sept. 15a
Sept. 16
Sept. 10
Sept. 15a
Sept.30
Sept. 13
Sept. 13
Sept. 15
Aug. 20a
Sept. 15
Sept. 15
Oct.
1
19a
Sept. 21
Aug.
Sept. 21
10
Sept.
Sept.
Sept.
Sept.
10
20a
20a
Aug. 31
Sept. 16
Sept. 10
Sept. 11
Sept. 13
Sept. 13
Sept. 10a
Sept. 17
,6 Less Income tax. d Correction.
i On account of accumulated dividends,
k Transfers received
Sept. 17 will be in time to be passed for payment of dividend
in London on or before
to
Oct.
Transfer books npt closed for this dividend.
Payable In scrip,
30|Aug. 31
IK
75c.
(quar.)
U. S. Steel Corp., common (quar.)
Utah Copper Co. (quar.) (No. 21)
a
3
5
BJxtra
e
2K
Oct.
29 Holders of rec. Nov:
2
7
Underwood Typewriter, com.
Preferred (quar.)
2a
Sept.20 Holders of reo. Aug. 25
Sept.15 Sept. 6
to
Sept. 15
Sept.15 Sept. 6
to
Sept.15
Oct.
1 Holders of rec. Sept. 17a
30Kc Sept.15 Holders of rec. Aug. 20a
18Kc. Sept. 15 Holders of rec. Sept. 8
5
Extra
Co"." (quar.) "(No".
Sept.
15
IK
Standard Oil of Kentucky
Standard Oil of N. J. (quar.)
Standard Oil, California (quar.)
Standard Oil (Kansas) (quar.).
Aug. 18
Sept. 24
rec.
5
Sept. 13
Sept.15
Sept. 15 Holders of rec.
Sept. 15 Aug. 27
to
Sept. 15 Aug. 27
to
Oct.
1 Sept. 16
to
Sept. 15 Holders of rec.
Sept. 30,Aug. 31
to
to
.
Holders of
Oct.
Sept. 30 Sept. 11
Weyman-Bruton ,common (quar.)
Preferred (quar J
re
rec.
Holders of rec.
IK
IK
South Porto Rico
Sept. 2a
Sept. 14
Sept. 24
rec.
Holders of rec.
7 5c.
South Penn Oil (quar.)
Aug. 18
rec.
Holders of
Holders of
Sept. 16
Sept. 13
Sept. 13a
Sept. 13a
Sept. 6a
Sept. 6a
Sept. 5
Sept. 5
Sept. 27a
15 Holders of rec. Sept. 25
Oct.
1 Holders of rec. Sept. 15a
Sept.20 Holders of rec. Aug. 25
—
Tennessee Copper
31
Oct.
....
Swift &
Oct.
to
Oct.
Pettibone, Mulliken <fe Co., first pref. (qu.).
Philadelphia Electric (quar.)
Pittsb. Term. Whse. & Transf. (m'thly).
Quaker Oats, common (quar.)
Oct.
2K
Preferred (quar.)
Nov.
IK
Quincy Mining (quar.)....
$1
Sept.
Railway Steel-Spring, pref. (quar.)
IK
Sept.
Ray Consolidated Copper Co. (quar.)
37Kc. Sept:
Republic Iron & Steel, pref. (qu.) (No.44)
IK> Oct.
Rubber Goods Manufacturing, com. (quar.)
2
Sept.
Preferred (quar.) (No. 58)
IK
Sept.
Sears, Roebuck & Co., pref. (quar.)—.
Oct.
to
Sept. 30 Holders of
Sept. 30 Holders of
22
Sept. 30 Sept. 21
to
Sept. 30a
Sept. 15 Sept. 2
to
Sept. 15
Sept. 30 Holders of rec. Sept. 23
1
Ltd., common (quar.)
Preferred (quar.)
IK
National Biscuit, com. (quar.) (No. 61).
Oct. 15
IK
National Carbon, common (quar.)...__.
Oct. 15
IK
National Lead, common (quar.)...
K
Sept.30
Preferred (quar.) (No. 87)....
IK
Sept.15
National Sugar Refining (quar.)
Oct.
2
IK
National Transit (quar.).
75c.
Septi15
Nevada Consolidated Copper Co. (quar.) 37K0. Sept. 30
New York Air Brake (quar.).____
IK
Sept.18
to
1
31 Oct.
Oct.
1
2K
—
1 Sept. 10
1 Aug. 17
1 Aug. 17
Oct.
Trust Companies.
1
8a
Oct.
Oct.
25 Oct.
oi rec.
5
(quar.)
(quar.)...—
Federal Mining & Smelting, pref. (quar.)
Aug. 29a
to
Sept. 11
Sept. 16
Oct.
1 Sept.11
to
Sept. 16
Sept. 15 Holders of rec. Aug. 31a
IK
IK
IK
West Perm Tr.AW.Pow.,pf.(qu.) (No. 6)
2a
1 Holders of rec. Aug. 30a
Sept. 15 Holders of rec. Sept. 6a
Sept. 15 Holders of rec. Sept. 6a
$3
Washington {D. C.) Ry. & Elec.,com.{qu.).
Preferred {quar.)
rec.
2a
Sept.
Galveston-Houston Elec. Co., com. {No. 9).
Northern Ohio Trac. & Lt., com. (quar.)
Manila Elec..RR. & Ltg. Corp. {quar.)...
.
.
Sept. 15 Holders of
IK
Preferred {No. 13)
Louisville Traction, common (quar.)
Guaranty {quar.)
p Extra
Sept. 15
Aug. 30a
2K
2
Holders of
IK
IK
IK
—
Sept.15 Sept. 11
Sept.15 Sept. 11
Sept.15 Sept.11
2
Wisconsin Central, preferred
Preferred
.
.
K
2K
Southern Pacific Co. (quar.)
rec.
,
————
1
IK
....
Railroads (Steam).
Canadian Pacific, common (qu.) (No. 69)
Preferred
...........
rec.
IK
...
3
rec.
to
Holders of
2
(quar.).
common
Mackay Companies,
The following shows all the dividends announced for the
future by large or important corporations.
Atlantic Coast Line Co. (Conn.)
Boston & Albany (quar.)
J
.
~
Name of Company.
Sept. 15 Holders of
Oct.
$1.50 Sept. 16 Aug. 21
Preferred
.
are
Sept. 15
General Gas & Electric, pref. (quar.)....
Goldfield Consolidated Mines
—I. Newton Perry and George A. Garrett,
formerly with
the Chicago office of Lee, Higginson & Co., are now asso¬
ciated with the sales department of McCoy & Co. of
Dividends announced this week
Sept. 11
rec.
Preferred
Total.
—Arthur M.Betts, for the past seven years connected with
Eversz & Co., bankers, of Chicago, has become associated
bond department.
to
of rec. Aug. 30a
1 Holders of
IK
.
Co., Chicago,
to
2K
Preferred
Aug. 301913— 16,440,000 20,672,000 37,112,000 12,019,000 20,698,000 32,717,0001
Aug. 23 1913— 16,984,000 20,768,000 37,752,000 12,461,000 22,797,000 35,258,000
Aug. 31 1912.. 17,808,000 15,336,000 33,144,000 8,398,000 24,191,000 32,589,000
Sept. 2 1911— 19,808,000 15,224,000 35,032,000 2,593,000 3,502,000 6,095.000
with Alfred L. Baker &
rec.
to
Sept. 10a
Sept. 26
Sept.26
Sept. 29a
Sept. 10
Sept. 10
General Chemical, pref. (quar.)
General Electric (quar.)—
Kingdom.
Bushels.
to
Common (extra)
United
Continent.
Oct.
to
Oct.
pref. (quar.)...
Eastern Steel, first pref.
Eastman Kodak,
Sept. 30 Sept. 10
Sept. 15 Holders
rec.
IK
...
61,742,000
1 Holders of
3
Dominion Textile, common (quar.)
duPont(E.I.)deNemours Pow., com.(qu.)
Preferred (quar.)
52,900,000
Corn.
United
Kingdom.
IK
IK
Pipe Line
Cuban-American Sugar,
Diamond Match (quar.)
Galena-Signal Oil,
'
1
duPont Internat. Powder, pref. (quar.).
Eastern Power & Light Corp., pref. (qu.)
Wheat.
•
75c.
...
Crescent
102,000
2,780,000
5,960,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
'
IK
Consumers' Power {Mich.), pref. {quar.)..
Continental Oil (quar.)
63,612,000
1
15
IK
4
—
July 1.
95,959,000 6,317,000
rec.
IK
Since
563,000
3,827,000
3,997,000
55,225,000
1 Holders of
13a
2a
15
15
6
Extra....
1912.
Bushels.
Oct.
rec.
Chesebrough Mfg. Co., Consd. (quar.)..
July 1.
Bushels.
rec.
7
28
28
13a
13a
Oct.
2
Consolidated Gas (quar.)
Consol. Gas, El. L. & P., Bait., com.(qu.)
Preferred
29,056,000
9,000
17,039,000
374,000
9,472,000
264,000
16,666,000 5,670,000
4,568,000
17,648,000
1,510,000
15,868,000
3,132,000
6,244,000
6,528,000
2 Holders of
1 Holders of
16
80
1 Sept. 14
to
Sept. 30
Sept. 15 Holders of rec. Aug. 23
Sept. 20 Holders of rec. Aug. 29
Oct.
1 Holders of rec. Sept. 15
Oct. 25 Holders of rec. Sept. 30a
Week
Bushels.
54,074,000
of rec.
Oct.
IK
$6
Aug. 30.
July 1.
Oct.
to
15
15
16
Canadian Car & Foundry, pref. (quar.)..
Central Leather, preferred (quar.)
-
1913.
Since
1.
Bushels.
6,968,000
2,688,000
Danube
1912.
Sept. 30 Holders
to
Oct.
1 Sept. 26
to
Oct.
Sept. 15 Sept. 8
to
Oct.
Oct. 15 Sept. 21
to
Sept. 30
See note k
$5
Cambria Iron
576,642
Corn.
1913.
to
1 Sept.20
to
1 Holders of rec,
1 Holders of rec.
to
66
Ltd
Preferred
Exports.
1 Sept. 20
Oct.
Oct.
IK
(quar.).
Buckeye Pipe Line (quar.)
Calumet & Hecla Mining (quar.)
1,280,267
are
Oct.
Oct.
20
British-American Tobacco,
to
IK
K
IK
IK
Brooklyn Union Gas (quar.) (No. 50)—.
for the week
corn
IK
IK
rec.
30 Sept. 11
30 Sept. 11
30 Sept. 23
15 Aug. 30
3
Borne, Scrymser Co
4,776
96,941
59,212
1
Fisheries, preferred {quar.)
Borden's Condensed Milk, pref.
480
25,584
2
Bethlehem Steel, preferred
151,270
384,904
263,137
475,700
......
Sept.
Sept.
Sept.
Sept.
IK
Refg., com. & pref. (qu.)
American Tobacco, preferred {quar.)
.1913.
bush.
769,077 1,565,056 18,812,742
420,858 5,037,888 24,217,819
201,103
33,800
232,558
301,814
428
14,812
Continent......... 78,080
21,808
Oct.
3K
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
American Sugar
Aug. 30.
bbls.
So. and Cent. Am..
Aug. 30a
1 Holders of
1 Holders of
rec.
1
American Steel Foundries (quar.)
July 1
1913.
United Kingdom...119,574
Total
Week
reo.
Oct.
Service, 1st pref...
preferred
American Radiator, common (quar.)
Amer. Smelt. & Refg., com.(qu.) (No.40)
Amer. Smelters Secur., pf. A {qu.) {No. 35)
Preferred B {quar.) {No. 34)
American Snuff, common {quar.)
Preferred {quar.)...
Corn
Since
July 1
1 Holders of
IK
Second
2,359
22,198
The destination of these exports for the week and since
July 1 1913 is as below:
0
Oct.
American Manufacturing (quar.) (No. 66)
Amer. Pipe & Construction Co. {quar.)
American Pneumatic
Mobile
-
•
Sept. 6
DETAILED RETURNS
regarding
Banks.—The following information
National
647
THE CHRONICLE
1913.]
OF TRUST
the Comptroller of the
national banks is from the office of
Currency, Treasury Department:
COMPANIES.
On Dep.
Loans.
Surplus.
Trust Cos.
Specie.
Net
withC.H.
Deposits.
Banks.
Average.
$
Legals.
Average. Average.
Average.
00s omitted.
$
Reserve.
APPLICATION TO CONVERT APPROVED.
Capital,
Gardena."
of
National
Gardena, Cal., into "The First
$50,000.
Gardena Bank & Trust Co.,
Bank
$
$
$
$
3,571,5 24,264,0 2,182,0
14,874,3 126,044,0 14,910,0
U.S.Mtg.ATr.
4,455,2 36,727,0 3,754,0
Astor
18,537,0 1,870,0
1,208,4
32,909,0 1,901,0
Title Gu. A Tr. 11.355.1
23,863,5 151,795,0 12,973,0
Guaranty
7,376,0
657,0
1,324,0
Fidelity
16,643,0 1,362,0
5,776,2
LawyersT .IAT
Col-Knicker
7.165.4 46,292,0 4,933,0
1.529.5 15,284,0 1,741,0
People's
New York.
11.939.2 43,375,0 4,051,0
8,796,0
948,0
Franklin
1,180,5
Lincoln
512,1
9,581,0 1,047,0
6,114,0 21,072,0 1,723,0
Metropolitan
11,542,0 1,134,0
800,8
Broadway
727,0 2,239,0 19,473,0 15.0+10.2
396,0 11,423,0 101,858,0 15.0+10.0
723,0 4,815,0 29,848,0 15.0+13.6
49,0
1,955,0 12,856,0 15.0+12.6
1,043,0 4,043,0 19,762,0 15.0+16.7
1,116,0 25,686,0 99,012,0 14.2 + 20.5
748,0
236,0
5,689,0 15.6 + 10.6
359,0 1,304,0
11,121,0 15.4 + 15.1
730,0 4,605,0 37,794,0 15.0+10.8
416,0 1,930,0 14,654,0 14.7 + 11.4
354,0 4,219,0 29,491,0 15.0+12.5
887,0
168,0
6,960,0 16.0+11.2
205,0
932,0
8,238,0 15.1 + 10.1
9,0 2,221,0 11,550,0 15.0+16.1
515,0 1,864,0 10,942,0 15.0+14.5
Totals, average 95,669,7 570,237,0 55,186,0
7,046,0 68,871,0 419,248,0 14.8+14.1
30 577,212,0 54,479,0
8,212,0 62,934,0 427,661,0 14.4+12.8
I
«»•»'>
Brooklyn
Bankers
ISSUED TO NATIONAL BANKS.
CHARTERS
August 21 to 25.
10.436—The Farmers' National Bank of Haviland, Ohio.
Capital, $25,000.
A. F. Rust, Pres.;
S. B. KUnger, Cashier.
(Succeeds
The Farmers' Bank of
Haviland.)
First National Bank of Braggs, Okla.
Capital,
Lytal, Pres.;
Downey Milburne, Cashier.
10.438—The First National Bank of Plentywood, Mont.
Capital,
Geo. F. Carpenter, Pres.; A. J. Langer, Cashier.
10.437—The
$25,000.
..
H.
$25,000.
.
Sales.—Among other securities, the following,
not usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
Auction
3 Nat. Bank of Commerce.
_
100 City
$4,000 Military-Naval
Corp.
1920; July 1913 coupons on
466
Colum.-Knick. Trust Co
5s,
$10 lot
Co.
$950 lot
$10,000 Cal.-Nevada Copper
1st 7s, due Dec. 1912
32
Investing Co
Per Cent.
Bonds.
Per cent
175
Shares.
By Messrs. Francis Henshaw & Co., Boston:
$ per s/j. I Bonds.
Shares.
3 Pepperell Mfg. Co
Percent.
*
| $5,000
294
,
Swift & Co. 1st 5s, 1914
99*4
By Messrs. R. L. Day & Co., Boston:
Wakefield Co. rights
65c.
-
By Messrs. Barnes & Lofland, Philadelphia:
$ per sh.
Shares.
299H Odd
2 John B. Stetson Co.,
Fellows' Hall Assoc.
Schuylkill, $10
100 Wm.
J.
Benham,
Inc.,
10 Millvllle Trust Co., N. J
(N.
J.)
Elec.
$3 lot
293
10 Bank of North America.
2 Corn Exch.
145
10c.
60
$200 No. Spring. Wat. Co. 5s, '28 92X
Philadelphia:
By Messrs. Samuel T. Freeman & Co.,
Per cent.
Bonds.
$3,000 Harrison Bros., Inc., 1st 5s,
1924
179,900,0 305,550,5 1,950,444,0 343,050,0
80,271,0, 68,871,0 1,804,994,0
..
84
.
Clearing-House Banks
detailed statement below
shows the condition of the New York City Clearing-House
members for the week ending Aug. 30.
The figures for the
separate banks are the averages of the daily results.
In
the case of the totals, actual figures at the end of the week
Statement of New York City
Companies.—The
Trust
also given:
For definitions and rules under
Total
1,964,241,0 335,094,0
80,525,0j 62,934,0 1,813,184,0
..
State
The
returns of
Banking
These returns
charge.
Department
the State banks and
in the whole State,
which the various items
V DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in all cases.
all the institutions of this class
cover
Loans.
Specie.
Legals.
Net Depos¬
Average.
its, Aver.
serve.
$
made up, see "Chronicle",
STATE
$
$
$
New York
Manhattan Co
Merchants'..*
Mech. A MetAmerica
City
—
Chemical
Merchants'Ex.
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
25,000,0
3,000,0
600,0
300,0
500,0
Butch .ADrove
Greenwich
American
Ex.
Commerce
Pacific.
Chat. A Phen.
People's
Hanover
Citizen's Cent.
Nassau
...
Market A Fult
Metropolitan
-
Exch...
Corn
Imp. A Trad..
Park
East
-
River...
Fourth
Second
-
First
Irving
Bowery
N. Y. County
German-Amer.
Chase
Fifth AvenueGerman Exch.
5,000,0
25,000,0
500,0
2,250,0
200,0
3,000,0
2,550,0
1,000,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
4,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
Germanla
Lincoln
"Garfield
Fifth
Metropolis
West Side
Seaboard
Liberty
N .Y .Prod .Ex.
State
Security
Coal A Iron..
Union
Exch..
Nassau
Totals,
200,0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
4,233,7
4,756,8
2,152,7
8,932,5
6,438,1
31,734,1
7,696,6
3,889,0
20,555,0
31,160,0
19,943,0
58,235,0
7,989,0
3,370,0
11,019,0
3,879,0
44,183,0
4,376,0
1,435,0
23,546,0
199,757,0
28,402,0
•
1,047,2
4,750,3
17,129,3
6,623,0
1,862,0
8,593,0
44,638,0
140,914,0
975,4
4,794,0
1,333,5
19,185,0
2,244,0
71,697,0
22,068,0
10,919,0
V 8,965,0
14,133,0
52,046,0
26,281,0
85.774,0
1,485,0
513,8
V
120,7
475,5
14,621,3
2,347,6
466,4
1,923,3
1,817,2
5,908,0
7,841,4
14,326,0
64,3
6,885,6
•
22,196,2
3,339,4
775,4
1,959,9
991,0
1,144,2
691,0
3,229,0
1,659,0
151,0
2,766,0
'
443,0
16,377,0
4,821,0
1,589,0
1,765,0
3,387,0
8,801,0
3,648,0
19,994,0
313,0
5,609,0
2,896,0
24,678,0
7,052,0
113,407,0
37,748,0
559,0
379,0
424,0
13,405,0
423,4
775,0
3,284,0
8,510,0
4,045,0
93,573,0
12,239,0
3,637,0
6,019,0
1,351,0
793,0
30.
p.
various items
316.
'
in
August 30.
State Banks
Trust Cos.
outside of
Trust Cos.
outside of
in
Y. Greater N.Y. Greater N. Y. Greater N. Y.
$
Capital as of June 4.....
Surplus as of June 4,....
$
$
22,850,000
65,900,000
9,478,000
38,503,000
164,444,200
12,463,100
297,436,800 1,033,606,700
+ 1,099,000
+ 7,926,500
,119,663,000
—145,600
10,150,000
•
11,405,100
175,598,300
—433,000
Legal-tender A bk. notes.
Change from last week.
21,236,300
—126,800
10,564,200
+ 342,000
Deposits
Change from last week.
Reserve on deposits._._r
24.7
i
-------
125,188,200
—226,600
182,111,100
—332,300
23,483,100
—48,400
339,607,700 1,124,553,400
+ 823,400 + 13,871,900
Change from last week.
89,150,000
+ 14,200
127,928,800
—182,800
26.8
22,846,800
+ 107,600
20.0%
14.1%
20.0%
13.5%
°
25.2
P. C. reserve to deposits-
27.0%
16.6%
25.3
Percentage last week..
27.7%
17.1%
.
26.7
25.0
25.2
14,789,0
24.6
6,863,0
2,155,0
1,820,0
122,0
2,000,0
154,0
2,414,0
2,789,0
61,442,0
23,304,0
86,577,0
1,471,0
29,432,0
12,093,0
104,973,0
38,449,0
3,401,0
8,496,0
3,801,0
110,854,0
13,782,0
3,472,0
5,765,0
14,546,0
9,007,0
.
60,0
675,0
234,0
1,025,0
1,137,0
+ Increase over last week.
—
Decrease from last week.
25.8
Note.—'"Surplus" includes all undivided profits.
"Reserve on deposits" Includes
for both trust companies and State banks, not only cash items but amounts due
from reserve agents.
Trust companies in New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according to lo¬
cation as shown below.
The percentage of reserve required is computed on the
aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within thirty days
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations Of the State or City
of New York owned by the bank or held in trust for it by any public department.
The State banks are likewise required to keep a reserve varying according to loca¬
25.5
tion, the reserve being computed on the whole amount of deposits exclusive of time
24.5
deposits
23.8
to the amendment of
27.0
ment of
26.1
24.7
28.8
25.4
25.0
25.*
"
29.6
25.8
25.4
26.4
obligations of the State or City of New York owned by the company or held in trust
for it
180,0
j72s313,0
1385,523,0
—State Banks—
Total
Of
27.4
25.0
Reserve
which
Reserve
which
Required, in Cash. Required, in Cash.
Manhattan Borough
15%
15%
25%
15%
Brooklyn Borough (without branches in Manhat.) 15%
10%
20%
10%
Other Boroughs (without branches in Manhattan) 15%
10%
15%
7
Brooklyn Borough, with branches In Manhattan-15%
15%
20%
20%
Other Boroughs, with branches in Manhattan
15%
15%
15%
15%
Cities of the first and second class
10%
5%
Cities of the third class and villages
10%
3%
26.0
Elsewhere in State
25.1
27.3
25.2
25,5
25.0
Required for Trust Companies
and
Slate Banks.
Location—
15%
6%
25.4
25.1
25.4
the Clearing
actual figures was $45,143,000.
Circulation.—On the basis of averages, circulation of national banks In
Of
Reserve
26.0
447,0
350,0
»
Trust Cos.—-
Total
25.4
73,225,0|l385,746,0
1,462,0
by any public department.
25.5
25.5
332,0
385,0
396,0
within thirty days, represented by certificates (according
1910), and exclusive of deposits secured (according to amend¬
29.6
11,029,0
4,587,0
26,520,0
26,605,0
10,455,0
23,749,0
14,509,0
6,724,0
8,602,0
5,936,0
297,0
1,584,0
payable
24.5
25.3
855,0
not
1911) by bonds or obligations of the City or State of New York, and ex¬
clusive of an amount equal to the market value (not exceeding par) of bonds or
3,968,0
5,663,0
6,383,0
2,286,0
5,550,0
2,156,0
1,303,0
1,817,0
1,328,0
House amounted to $45,004,000, and according to
109,888,700
—220,700
26.0
254,0
296,0
255,0
853,0
211,0
450,0
1387,029,0 280,615,0
53,820,600
—52,600
!
Specie
26.2
871,0
609,0
1,350,0
1,788,0
8,768,0
3,946,0
11,600,0
3,835,0
22,708,0
24,219,0
8,953,0
18,452,0
12,138,0
6,599,0
8,805,0
7,351,0
25.2
24.7
5,882,0
1
the
24.4
25.0
'
Aug.
as per
26.0
556,0
14,456,0
27.0
2,276,0
558,0
1,220,0
2,856,0
2,257,0
25.9
77,268,0
20,779,0
11,893,0
9,129,0
27,002,0
2,506,0
Avge. 133,650,0 209,880,8 1380,207,0 287,864,0
Actual figures
to
%
18,325,0
35,170,0
19,416,0
54,861,0
22,303,0
194,440,0
24,572,0
6,518,0
1,645,0
9,567,0
44,223,0
121,179,0
4,454,0
19,390,0
859,0
1,514,0
1,383,0
2,656,0
1,763,0
6,890,0
2,014,0
180,0
63,0
175,0
1,440,0
2,243,0
9,772,0
21,301,0 11,109,0
29,691,0
2,742,1
683,9
10,096,9
2,273,2
815,5
1,034,6
1,790,3
1,297,6
491,7
2,211,6
842,1
2,485,9
2,787,6
860,3
587,7
as
BANKS AND TRUST COMPANIES.
State Banks
Week ended
V, 86,
Change from last week.
%
$
so
Re¬
Average.
compiled
are
For definitions and rules under which the
are
Change from last week-
Surplus.
■'
weekly
•
Loans and investments..
Average.
Capital.
furnishes
also
York) and those for the rest of the State,
New
are
"Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
•"
1,385,523,0
427,661,0
trust companies under its
but the figures
Greater N.
made up, see
Banks.
8,212,0| 62,934,0
distinguish between the results for New York City (Greater
are
00s omitted.
419,248,0
72,313,01
following:
and
68,87~1~0
1,387,029,0 280,615,0
577,212,0 54,479,0
...
Per cent.
$500 Wildwood A Del. Bay Short
LineRR. 1st 5s, 1940...
...
295
Nat. Bank.
10 Southwark Nat. Bank
1,385*746,0
73,225,0
7,046,0
—
$1
$1,000 United Trac. (Pitts.) gen. 5s,
1997
:
79 H
33 Cent. Tr. A Sav. Co.,$50 each 60
$
133,650,0 209,880,8 1,380,207,0 287,864,0
570,237,0 55,186,0
46,250,0 95,669,7
Banks
Banks
$1,000 Alt. A Logan Val. Elec. Ry.
1st 4^8, 1933
84
30
;
Co., $50 each
Co.,
Mg.
Bonds.
80 Wenonah Glassboro & Clay¬
ton
Rlncon
$
Trust cos.
Trust cos.
960
$50 each. 48
each
100
Water
Co., $25 each
5,000 Mex.
Deposits.
Actual.
98
$50 each
10 Hamilton Tr. Co.,
131-131 J*
100 Moorestown
Co.,
5 Glrard Trust Co.....
1
Bank,
Nat.
SNet
Banks.
$
$
$
$
with C.H.
Specie.
15J*
Tr,
25 Continental-Equit.
$50
each
25 Manufacturers'
On Dep.
Loans.
Surplus.
Legal
Tenders.
Capital.
ending
Aug. 30.
Total
com__.385^
35 People's Nat. Fire Ins
$300 lot.
each
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Averages.
$persh.
Shares.
of the Falls of
The capital of the trust companies Is as follows: Brooklyn, $1,500,000; Bankers',
$10,000,000; United States Mortgage A Trust, $2,000,000; Astor, $1,250,000; Title
Guarantee A
Trust, $5,000,000; Guaranty, $10,000,000; Fidelity, $1,000,000;
Lawyers' Title Insurance A Trust, $4,000,000; Columbia-Knickerbocker, $2,000,000;
People's, $1,000,000; New York, $3,000,000; Franklin, $1,000,000; Lincoln, $1,000,000; Metropolitan, $2,000,000; Broadway, $1,500,000; total, $46,250,000.
Week
$ per sh.
Shares.
10 Heywood Bros. &
Aug.
Actual figures
The
rate
trust
Banking Department also undertakes to present
sepa¬
figures indicating the totals for the State Banks and
companies in Greater New York
House.
These figures
also the results
are
not in the
Clearing
shown in the table below,
as are
(both actual and average) for the Clearing-
648
CHRONICLE
THE
House banks and trust companies.
In addition,
Philadelphia Banks.—Below is a summary
weekly totals of the Clearing-House banks of Boston
and Philadelphia:
of the
combined each corresponding item in the two
statements,
thus affording an aggregate for the whole of the banks and
trust
We omit two ciphers
(00) in all these figures.
companies in Greater New York.
NEW
YORK
Capital
CITY
BANKS
AND
TRUST
COMPANIES.
Banks.
and
Loans.
Specie.
Legals.
Clear.-House
ended
Aug. 30—
Clear.-House
Members.
Members.
ActualFlgures
Stale Banks and
Total of all
Aver
Cos.
'
National banks
Aug.
Surplus
June
9
State
and
179,900,000
305,550,500
207,450,000
27,550,000
305.550,500
Change from last week
4-20,403,000
541,569,600 2,492,013,600
+ 1,886,300 + 22,684,300
343,050,000
—6,706,000
___
Legal-tenders
0543,398,400 2,348,392,400
—496,900 + 15,021,100
+ 15,518,000
Specie
335,094,000
Change from last week —14,282,000
80,525,000
361,089,000
62,691,000
Aggr'te money holdings.
415,619,000
Change from last week —13,763,000
+208,300
—26,000
352,928,000
25.47%
405,919,400
—6,497,700
62,869,400
80,271,000
+ 519,000
Change from last week
30.
67,777,200
+ 23,700
373^14, 000
26.05%
62,232,000
58,221,600
Ratio to deposits
70,646,600
+232,000
493,967,600
—6,500,000
68,871,000
Aug.
Aug.
Aug.
30.
Aug.
Aug.
23.
,
—2,300
_
Money
deposit
on
103,684,3
103,684,3
103,684,3
103.684,3
103,684,3
103,684,3
62,934,000
—8,328,000
+ 3,137,000
16,348,500
—276,000
85,219,500
+2,861,000
478,553,000
—22,091,000
492,192,000
—3,595,000
86,995,100
—44,000
reserve
Change from last week
103,684,3
103,684,3
*407,637,0
*408,247,0
11,324,0
11,322,0
140.390.6
161,528,9
143.647.1
138.338.2
147,564,0
372,246,0
*413,818,0
11,325,0
140.626.8
to
At Boston
$1,514,000 on August 30, against $1,526,000
,
"Deposits"
now
include the item of
reported on August 30
"Exchanges for Clearing House," which
$13,452,000.
as
Imports and Exports for the Week.—The following are
imports at New York for the week ending Aug. 30; also
totals since the beginning of the first week in
January:
the
FOREIGN
V
1913.
6,547,250
1912.
1911.
1910.
$3,361,619
14,175,377
$2,579,854
11,125,138
$2,842,545
$22,413,649
$17,536,996
$13,704,992
$18,258,288
I
$101,733,969
557,009,594
$98,312,569
573,129,253
$93,521,232 $106,574,752
487,414,160 524,715,814
I
14,652,500
def.655,200
(above 15%) def .1,458,150
YORK.
NEW
$3,531,396
18,882,253
$658,743,563 $671,441,822 $580,935,392 $631,290,566
'
I
I
•
General merchandise.
Banks (above 25%).
IMPORTS AT
For Week.
579,187,100
Surplus CASH reserve—
cos.
156.380.5
161.260.7
11,269,0
11,305,0
11,303,0
263,016.0
90,459,0
92,093,0
89,664,0
90,313,0
deposits amounted
Dry goods
Trust
11,279,0
11,275,0
9,566,0
9,558,0
9,351,0
—3,639,000
Change from last week
Total
♦413,615,0
♦416,635,0
♦407,151.0
♦409,904,0
♦404,378,0
90,470,0
92,851,0
93,828,0
374,902,0
373,535,0
371,501,0
372.970,0
374,391,0
372,752,0
370,140,0
August 23.
on
*
with
other bks. & trust cos.
9,38f,0
9,449,0
9,623,0
8,802,0
9,376,0
Includes Government deposits and the item "due to other banks."
a
were
Trust Cos.: Cash In vault
262,985,0
260,435,0
142,433,1
179.828.1
134.189.6
137.742.0
128.268.2
136.780.4
130,225,9
111.521.7
88,027,0
223,121,0
225,771,0
226,250,0
120,453,600
423,321,000
—6,732,000
12.
19.
26.
2.
9.
16.
$
•
266,802,0
274,343,0
263,246,0
259,772,0
258,517,0
88,048,200
12,425,000
14.02%
July
July
July
Government
Banks: Cash In vault
$
27,104,0 4,074,0
29,323,0 4,327,0
29,813,0 4.093,0
27,763,0 3,709,0
26.950,0 3.625.0
26,321,0 4,054„0
26,928,0 3,986,0
27,530,0 3,877,0
225,428.0
223,617,0
222,963,0
222,551,0
Phila.
1,813,184,000 1,804,994,000
___
225,033,0
60,735,4
60,735,4
60,735,4
60,735,4
16.
23.
Aug.
381,146,600
75,596,100
$
60,735,4
60,735,4
60,735,4
60,735,4
9.
Aug.
Aug.
1,964,241,000 1,950,444,000
+ 30,008,000 +20,798,000
Change from last week
2.
Aug.
179,900,000
banks
4
Loans and Investments.
Deposits
Aug.
,
19.
26.
12.
Clearings.
lation.
a
$
July
July
July
Average.
S
Capital
Boston.
Trust Cos. Not Banks & Trust
in C.-H.
Average.
Circu¬
Deposits.
Surplus.
Week
xcyii.
Boston and
have
we
[Vol.
Total
.13,997,300
Dry goods
15,415,743
Since Jan. 1.
Total
.5,089,100
•17,084,050
sur
Change from last week
% of cash reserves of
sr
General merchandise...
—9,898,400
Total 35 weeks
cos.—
trusjt
"
Cash in vault...
14.42%
14.84%'
Cash
12.82%
14.10%
16.48%
1.31%
27.24%
28.94%
17:79%
on
dep. with bks
Total
+ Increase over'last week.
—Decrease from last week;
These are the deposits after eliminating the item "Due from
a
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Aug. 30 and from Jan. 1 to date:
'
reserve
EXPORTS
deposi¬
FROM
NEW
YORK.
tories and other banks and trust companies in New York
City"; with this item in¬
cluded, deposits amounted to $618,865,500, an increase of $5,406,400 over last week
In the case of Clearlng-House members, the deposits are
"legal net deposits" both
for the average and the actual figures.
6 Includes bank notes.
„
1913.
For the week
Previously reported
The averages of the New York City
Clearing-House banks
and trust companies, combined with those for the State banks
and
trust
companies in Greater New York outside
Clearing House, .compare
COMBINED RESULTS
\
as
follows for
a
the
series of weeks past:
OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We
omit
two
ciphers
(00) in
Deposits.
Specie.
1912 and 1911:
$
$
2,456,190,0
2,481,840,3
5
2,479,309.2
12
2.479.832.8
19
26.... 2.472.979.9
2._i. 2.464.351.2
2.462.176.6
9
16
2.469.038.7
2.469.329.3
23
30.—. 2,492,013,6
July
July
July
July
Aug.
Aug.
Aug.
Aug.
Aug.
$'
2,324,559,2
2.352.237.2
2.346.069.6
2.345.903.3
2.342.690.7
2,331,766,7
2,325,334,5
2,330,546,9
2.333.371.3
2.348.392.4 j
$"
$
423.439.0
417,144,3
406,995,5
407,142,5
411,286,8
416.512.8
413.640.9
413.214.3
412.417.1
405.919.4
93,370,9
88,559,9
91,587,0
92,313,5
92,870,8
'88,489,6
87.096.4
87,161,7
88.050.5
88,048,2
505.704.2
498.582.5
499,456,0
504.157.6
505,002,4
500.737.3
500,376,0
595.249.4
587,026,9
584,407,2
592,979,2
594,713,6
582.409.5
581,848,4
500,467,6
493,967,6
582,826,1
579,187,1
Reports of Clearing Non-Member Banks—The follow¬
ing is the statement of condition of the clearing non-member
banks for the week
ending Aug. 30, based
results:,
,
■
v
We omit two ciphers
•"
'
on
average
daily
;;
-
Great
France
$43,575",270
Banks.
Legal
Tender
Deposit
Sur¬
and
with
plus.
Invest¬
Bank
C.-H.
—...————
South America
All other countries
.....
"$600
60,000
Total 1912.
-
Total 1911
2,999,441
I
Silver.
Britain
South
_
Notes.
Banks.
V
$13,983
36,651
America
68,655
23,024
92,488
"
""$68
""7",909
_
267,702
79,795
13,414
—
...
10,197,942
496,081
'
.^.1— — -
;
West Indies
.
$767,451 $28,659,506
4,413,617
134,747
..._
Germany
Mexico
$398,285 $13,494,671
15,632,351
606,036
$68,743,196
32,508,733
Total 1913..
.......—
•
1,200
$902,198 $33,118,883
37,503,181
1,851,971
1,055,334
-
33,625,777
$360,979
223,004
152,025
•
3,724,899
1,770,379
1,053,756*
$6,736,684
6,547,246
5,114,647
Deposits,
ments.
1,310,811
•■■*•■■■
Mexico.
.
Net
tal.
26,095
283,851
Total 1911
Capi¬
65,807
911,682
6,653
778,376
8,040.691
2,398,537
714,000
Total 1912.
On
5,171
$5,194
311,189
22,448,389
1,716,515
....... ........—
Germany
West Indies
Great
New York City.
.
Specie
and
$
.
Of the above imports
for the week in 1913, $32,281 were
American silver coin.
"
;
American gold coin and $142
$
Manhattan and Bronx
Washington
Heights.
Battery Park Nat...
Century
—
Colonial..
Columbia
Fidelity
Mount Morris
Mutual
New Netherland
Twenty-third Ward..
Yorkville
100,0
200,0
500,0
400,0
300,0
200,0
250,0
200,0
200,0
200,0
100,0
349.7
104.4
1,670,0
1,550,0
6,395,0
6,173,0
5,678,0
935,0
2,255,0
4,675,0
3,337,0
1,835,0
489,3
4,109,0
117,9
511,3
656,3
767,6
173.5
334.3
470.4
300.6
147,0
110,0
373,0
585,0
36,0
416,0
983,0
511,0
55,0
206,0
420,0
119,0
49,0
338,0
131,0
105,0
208,0
356,0
501,0
396,0
215,0
582,0
187,0
157,0
1,415,0
1,659,0
438,0
First
National
Manufacturers' Nat..
National City
North
Side
300,0
252,0
1,000,0
300,0
200,0
706,1
928,1
592,9
576.5
177.6
3,755,0
365,0
5,407,0
373,0
9,788,0 1,324,0
4,537,0
583,0
2,526,0
188,0
49,0
332,0
453,0
157,0
121,0
904,0
636,0
209,0
293,0
752,0
197,0
261,0
745,0
571,0
671,0
1,651,0
731,0
412,0
Jersey City.
First
National
Hudson County Nat.
Third National
4,711,0
3,352,0
1,982,0
4,551,0
Second National
400,0
250,0
200,0
1,398,4
220,0
125,0
667.8
825,9
433,9
4,253,0
3,280,0
2,451,0
273,0
4,335,0
3,307,0
235,0
190,0
177,0
81,0
288,8
Totals Aug. 30
6,097,0 10,871,3 82,251,0 8,4-93,0
Totals Aug. 23.... 6,097,0
Totals Aug. 16
'
3,033,0
4,781,0
11,780,0
4,607,0
2,558,0
115 Issues of Listed Stocks
are classified by us
as follows:
Investment, SemiInvestors interested in stocks can obtain
of this circular free of charge by sending for Circular 614,
"Railroad and Industrial Stocks."
The
issues
Investment, Speculative.
a
copy
Spencer Trask & Co.
43
EXCHANGE
10,871,3'82,472,0 8,391,0
6,097,0 10,908,0,83,203,0 8,606,0
233,0
75,0
132,0
1,635,0
563,0
409,0
.487,0
311,0
1,606,0
,826,0 12,120,0
,788,0 13,432,0
,839,0 12,074,0
75,488,0
YORK
Chicago
3,028,0
1,736,0
1,463,0
85,0
PLACE—NEW
Boston
Albany
Hoboken.
First National
iatiltitjjj and financial.
5,891,0
6,287,0
6,172,0
875,0
2,459,0
Brooklyn.
Mechanics'
1
$47,821
Total 1913—
Loans,
Disc'ts
Since Jan,
a"
Britain
All other countries..
(00) in all these figures.
Imports.
Week.
Since Jan. 1
Week.
'
1
601,506,7
ATfNEW YORK.
Gold.
'
$.
516,809,9
SPECIE
OF
Exports.
onDeposit
"
28
$550,515,458^516,855,264^442,457.917
'
IMPORTS
'
June
$9,578,362
532,879,555
following table shows the exports and imports of
specie at the port of New York for the week ending Aug. 30
1913, and for the corresponding periods in
EntireRes
Holdings.
Legals.
$12,372,460
504,482,804
and since Jan. 1
EXPORTS AND
TotMori'y
Investments
$602,438,969
1910.
1911.,
$14,816,359
535,699,099
The
all these figures.
Loans and
Week Ended—
of
Total 35 weeks
1912.
$12,158,997
590,279,972
...
51,0
White, Weld & Co.
1,542,0
75,566,0
78,013,0
Bonds
and
Investment Securities.
14 WALL STREET
THE ROOKERY
1}1 DEVONSHIRE STREET
NEW YORK
CHICAGO
BOSTON
Sept. 6
Money
Union Pacific stock to
been
$ree£, Friday Night, £ep£. 5 1913.
TPaZZ
The
Financial Situation.—The
Market and
trend of the security markets
this week is evidence of the
whole¬
its
fact that in Wall Street,
and perhaps elsewhere, the
sale destruction of crops
in the West and Southwest and
widespread effect
is
the business interests of the country
upon
Heretofore the matter
beginning to be comprehended.
apparently not been understood or has been ignored.
has
Until
recently,
is known that
the
a
over
exceptionally large one. Now it
considerable area in Texas and along
an
Mississippi River not
little damage to cotton from
a
Another factor which would natur¬
drought has resulted.
ally have
Stock
tendency to restrict operations at the
a
the
it has been expected that
moreover,
would be
cotton crop
in the local money
Saturday's bank statement showed a heavily
Exchange has been a tendency to firmness
Last
market.
and the demand for funds from the
and West has increased.
It is reported that demand
reduced surplus reserve
South
freely and the rate for
loans have been called more or less
this class of loans
at
4%
per
was
quoted for
In addition to the above,
in many
York
a
brief period
on
Thursday
early in April.
cent, the highest since
railway traffic reports for July are
important cases, including Pennsylvania and New
effect upon
on
distressing
the
unfavorable, and
Central,
another accident
of
news
the New Haven road had an adverse
sentiment
as
well
the shares of the company.
as
volume of traffic
or more
but expenses have so largely increased that net
results are, as stated above, disappointing.
The beginning
of a suit by the Government this week against the alleged
Railway reports show generally an average
time past pending
coal combination has been for some
therefore surprised no one;
by
was
that
situation at
better
or
and
followed, nevertheless,
rather sharp decline in anthracite shares.
a
appear
and
but
It does not
change has taken place in the political
home or abroad affecting financial matters for
any
worse.
currency
The need of making progress with tariff
legislation
at Washington is
quite generally
recognized throughout the country, except at the National
Capital, and delay in the matter is undoubtedly retarding
business in many
lines.
*
for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from 2@4%%.
Friday's rates on call were 2@3%.
Com¬
mercial paper on Friday quoted 5 i%@6% for 60 to 90-day
endorsements and prime 4 to. 6 months' single names and
6%@6%% for good single names.
''
The Bank of England weekly statement on Thursday
showed an increase in bullion of £89,572 and the percentage
of reserve to liabilities was 59.59, against 59.46 last week.
The rate of discount remains unchanged at 4%%, as fixed
April 17.
The Bank of France shows a decrease of 6,002,000
francs gold and an increase of 6,301,000 francs silver.
The open market rate
'
f
Germany bankers' marks were 9434@94 5-16 for long and 95% less 3-64
@95% less 1-32 for short.
Amsterdam bankers' guilders were 40% less
1-32@40% for short.
The posted rate for sight sterling, as quoted by a representative house,
was not changed during the week from 4 86 %, but the 60-day rate was re¬
duced %c. en Tuesday to 4 83, at which it has since remained.
Exchange at Paris on London, 25f. 25c.; week's range, 25f. 25 %c. high
and 25f. 23 %c. low.
Exchange at Berlin on London, 20m. 42pf.; week's
range, 20m. 44%pf. high and 20m. 42pf. low.
The range for foreign exchange for the week follows:
Cables.
Cheques.
Sterling Actual—
Sixty Days.
4 8620
4 8585
High for the week—4 8265
4 8590
4 8555
Low for the week—4 8230
Paris Bankers'
Francs—
Low for the week___
T.Anie
i*r»
coo discount.
«1
nor
Paul,
15c. discount.
St.
1913.
par.
Averages for
!
1911.
Averages for
week ending
from
Aug. 30.
Averages for
week
Differences
week ending
previous week.
ending
Aug. 31.
Sept. 2.
'
$
$
'
$
v
135,150,000
190,299,600
inc. YsTiVe'ooo 1,392,462,000 1,352,904,000
48,634,000
Dec.
45,279,000
589,000
Inc.
8,387,000 1,416,259,000 1,394,725,000
302,199,000
Deo.
285,972,000
6,347,000
77,749,000
77,395,000
333,000
73,225,000 Dec.
Specie
^Legal-tenders
Reserve
...
133,650,000
197,084,400
361,089,000 Dec.
held
25% of deposits
$
.
133;650,000
209,880,800
.1.
Loans and discounts... 1,380,207,000
Circulation
45,004,000
Net deposits
1,385,746,000
...
346>436,500
Inc.
363,367,000
354,064,750
6,680,000
2,096,750
379,948,000
9,302,250
31,266,750
34$,681,250
"
Surplus reserve
14,652,500 Dec.
8,776,750
.
weekly, showing the actual
condition of the banks on Saturday toorning, as well as the above averages.
The
figures, together with the returns of%$e separate banks and trust companies, also
the summary issued by the State Banking Department, giving the condition of
State banks and trust companies not reporting to the Clearing House, appear on
Note.—The Clearing House now Issues a statement
the second page preceding.
State and Railroad Bonds.—Sales of State bonds at the
Board include $1,000 New York 4s, 1958, at 98, $2,000
York 4s, 1961, at 97%, $2,000 N. Y. Canal 4s, 1962, at
New
97%
and $25,000 Virginia 6s deferred trust receipts at 48 to 48%.
The market for railway and industrial bonds has been
generally steady on a limited volume of business and with
almost no change in tone from day to day.
A few issues
are fractionally higher including St. Paul, New York Rail¬
ways, Southern Pacific, U. S. Steel and Central Leather.
New Haven bonds have been notably active and in sympathy
with the shares, are lower.
Several issues show a fractional
but unimportant decline. ■
'
Foreign Exchange.—Sterling exchange, with an easier
money situation abroad and fair offerings of bills, ruled
^
Montreal,
40% less 1-16
25c. per $1,000 discount.
Boston, par.
San Francisco, 40c. per $1,000 prem-
par.
Minneapolis,
Cincinnati,
par.
.
,
.
Bonds.—Sales of Government bonds at
the Board include
$10,000 2s, coup.-, at 98, $3,000 2s,
reg., at
98, $7,500 3s, coup., at 102%, $120 3s, coup.,
small bonds, at 102, and $1,000 3s, reg., at 102%.
For
to-day's prices of all the different issues and, for yearly range,
see
third page following.
United States
Miscellaneous
Stocks.—The stock
declined until to-day, although the vol¬
of business has been small.
No evidence of forced
Railroad
and
market has steadily
ume
liquidation is seen and the owners of securities have not been
conspicuous as sellers.
Prices, therefore, sagged off on
limited offerings, largely made by prospective owners from
sheer lack of buyers.
The above applies, of course, to the
market as a whole.
A few stocks have been notably weak
special reasons.
To-day's market
firmer tendency and a considerable list
for
has, however, had
a
of prominent stocks
recovered about a point of the decline recorded earlier in the
week.
Lehigh Valley and Reading lost nearly 4 points on
the beginning of an action by the Government to determine
the existence of a combination.
Southern Pacific has been
strong on the favorable result of syndicate offerings of new
certificates.
(
stocks have again moved up on trade con¬
ditions, but U. S. Steel, after recovering a point to-day, is
2 points lower than last week.
Other active issues have
generally followed the trend of the market and changes in
quotations have little or no significance.
For daily volume of business see page 657.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
The
copper
for
Sept 5.
Week
...
37
84
Sept
4th paid..
125
Sept
85
Sept
8% Sept
8% Sept
200
215% Sept
215% Sept
...
200 120
Sept
123
—..
20 140
Sept
140
Chic St P M & Omaha
Preferred—
20
29% Sept
104% Sept
100 110% Sept
100
Lowest.
Highest.
100
Brunswick Terminal
Can Pac subs,
Lowest.
15 124% Sept
Adams
Express
Amer Coal Products.
Range since Jan. 1.1
Range for Week.
Sales
STOCKS.
Week ending
Sept
Sept
29% Sept
105
Sept
110% Sept
31
Sept
124%
80
Highest.
Sept 150
July 94
6% June
8%
212
Aug 215%
119% Aug 125
June
130
150%
33
23% June
104
100
68
Sept
68
Sept
66
June
100
55
Sept
55
51
July
Nor Ohio Trac & Light.
25
61
Sept
61
Sept
Sept
Quicksilver Minings
So Pac subs, 1st paid...
100
United Cigar
Preferred
Mfrs*
...
United Dry Goods
West
Maryland, pref—
500
93% Sept
45% Sept
100
96
13
100
Sept
92% Sept
58% Sept
60
Aug
2
July
Sept
3% Sept
69
Jan
Jan
Jan
95% Sept
47% Sept
92% Sept
40% June
96
Sept
87
July 101
58% Sent
53%
Sept
Outside Market.—Beyond a slight increase
Jan
Jan
63%
Jan
75%
4% May
95% Sept
Feb
50%
102% Feb
93%
96
Mar
Apr
Sept
Mackay Cos, pref
N Y Chic & St Louis...
7,500
Sept
Sept
31
3% Sept
Jan
Jan
Mar
May 109%
105% Mar 110%
30
June 43%
25
'
Capital.
•Surplus
95%
40 3-16 less 1-16
-
preL
Helme (G W), pref..
1912.
:
95%"Iess 1-32
95% less 1-32
95 1-16 less 1-32
Domestic Exchange.—Chicago,
ium.
5 18% "less 3-64
5 19% Jess 1-32
1-64
39 11-16 plus 1-16 40%
39% plus 1-16
40 1-16 less 1-32
High for the week—
Long Island...
.
5 19%
5 20 plus
Germany Bankers' Marks—
High for the week—
94 5-16
Low for the week—
9434
Amsterdam Bankers' Guilders—
—,—
•
less 1-16
High for the week
5 22%
Low for the week—5 23%
Gen Chemical,
(Not Including Trust Companies.)
/
one
To-day's
4 8245 for 60 days, 4 8555@4 8565 for cheques and 4 8590@4 86 for cables.
Commercial on banks 4 80 K @4 8234 and documents for payment 4 81 % @
4 8234.
Cotton for payment 4 81% @4 82 and grain for payment 4 82®
4 82%.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 23 % @
5 23% plus 1-32 for long and 5 19% less 3-32 @ 5 19% less 1-16 for short.
Colorado & Southern...
NEW YORK CLEARING-HOUSE BANKS.
«
subscriptions by foreign holders of
the Southern Pacific certificates have
influence of the weakness.
(Friday's) actual rates for sterling exchange were 4 8230®
liberal
The
weaker.
(jfejette.
\<xnkzx$7
049
CHRONICLE
THE
1913.]
JUne
67%
Jan
Jan
in trading to¬
dull. The gen¬
eral trend of prices was downward, though to-day's market
developed a stronger tone.
The Tobacco and Standard
Oil issues, as usual, were the principal features.
United
Cigar Stores suffered a loss of over 2 points to 91 % during the
week, but to-day on heavy trading jumped to 94%.
The
close was at 94%.
British-Amer. Tobacco continued promi¬
day, the week in "curb" securities was very
nent and sold down from
25% to 24%, though to-day there
rally to 25%, with the close at 25%.
Tobacco Pro¬
ducts pref. was very quiet and sold down from 92% to 90.
Standard Oil of N. J. dropped from 376 to 369 and ends the
week at 370.
Consolidated Rubber Tire com. moved up a
was
a
point to 30% and back to 29%.
Sales of pref. were recorded
Maxwell Motor appeared in the trading to-day, the
com. at 4%, the 1st pref. at 31 and the 2d pref. at 8%.
The
bond department was practically neglected.
Brooklyn Rap.
Tran. 5% notes weakened from 96% to 96 3-16.
N. Y. City
4 %s of 1962 sold up from 96 to 96 % and the 4 %s of 1960 from
96 to 96%.
In the mining list, Goldfield Consolidated de¬
veloped considerable activity on the announcement of a divi¬
dend of 30c. and 10c. extra, and rose from 1% to 2. Braden
at 90.
Copper eased off from 6% to 6%, but recovered to 6%.
British Columbia sold at 2%.
Outside
quotations will be found
on page
657,
„
650
New York Stook Exchange—Stock Record,
Daily,
STOCKS—HIGHEST AND LOWEST
SALE PRICES
Sales of
londay
Sep1.1
!Tuesday
Wednesday
Sept. 3
Sept. 2
94%
96%
97
97
96l«
♦81
^
82
89%
*81
♦285
*285
300
605s
1414
30
30l4
10634 10712
14
X128
♦36
*285
♦29
300
Do
59*8
25734
13*2
13*2
*13
31
*29
...
105
105*2
133
"4~950 Chesapeake
30
133
31
400
178
*170
182
♦170
46
*36
46
♦36
46
75
*60
75
♦158"
161
75
♦156
160
*156
160
♦158
160
♦400
420
*400
420
420
420
*395
420
75
22
♦18
22
♦18
22
♦18
22
36
*33
35*2
♦33
35*2
*33
35*2
Do pref
Duiuth So Shore A
•5%
7
*5*2
7
*5*2
♦1078
12
*1078
12
§10*8
286s
2914
27*2
46i8 46i8
♦3584 37*4
12634 126s4
36
*3412
45*s
♦107
28*2
4534
35*2
35*2
1253s 126*4
♦34
110
35*2
107*2 108*2
1612
1618
62«4
6378
1534
61*2
16*S
63
25
25
247S
*58
60l2
•7
10
155
*7*2
*128
132
§131
16
15
15
40
*35*1
135
*36
148
23
22
♦55
40
*36
40
135
*134
135
148
♦140
148
22
22
.
217S
60
*56
29*4
28*2
60
285g
46
*36
16*8
*15
1534
♦15
16
15
95*4
90%
29*2
89*2
29*2
9434
9178
29
104*2 1045s
*80*2
95*4
90*2
29
U0l4 IIH4
111*2 112*4
U03i I IH4
1115s 112
*88*2
9034
♦88*s
9034
117*2
159*2 161*2
88
♦86
88
♦80
88
♦86
88*4
17j4
§88*2
88*2
♦86
16*2
89*4
17
28*4
6*4
26*2
17*4
27*2
117*2
17*2
2778
§6*4
6
•25
9*4
257s
28
65
44*2
91*s
95*4
90
893s
9334
94*2
2434
79%
18
25*4
15
16
24
38
37
•11
12
♦11
24*2
*20
•105*2 IO6S4
*151% 153*4
106
106
14934 161*2
*81
23
♦20
♦40
4478
4*4
♦40
4*8
133s
13*8
♦40
♦19
*25
37*2
1077b
14934 151*4
81
81
81
81
♦21
23
*21
25
40*2
♦4*s
♦11*2
♦395s
40*2
♦40
447s
40*8
4%
♦4*4
43s
13
♦11
*39%
4112
*5
6
♦5
6
*5
6
♦5
♦18
20
♦18
21
♦18
12
*10
12
♦8
10
♦8
*46
49
♦46
49
46
467s
7638
4334
763s
41*4
777b
41*4
76%
77*4
76%
44%
44*8
♦93
&
75%
44
44
95
♦94
♦70
95
25
2684
26%
26*4
*70
80
75*2
41*2
9378
24ia
80
♦70
94
35*8
33%
34*2
327,
96»4
95
95
95
95
♦63*2
437s
44*2
92*2
♦91
4*4
♦4
92%
*4
*9
22
23*2
«!
♦24
97
*91
4*4
23
*9
27
36
103
34*4
95*2
4684
♦63*2
65
44
43
43
§91
91
♦4
♦9*4
*211Z
24
•23
♦1017f 105
65
23
24
35*8
34%
46
80
♦11484 H6I2
♦33*4
37
4*4
•21
23
37*2
27*4
96
♦4
10
♦23
24%
10*4
28
35*4
•101
4334
65
33*4
9434
46*2
115
♦33*4
•64*4
♦4234
*21%
22%
'
115
,37*2
♦33*4
♦63%
65
4534
117
43
.'<■ <}
.
♦115
37*2
k
f
46
457t
118
*33
22
:•
46a4
46%
*115
if
♦70
333s
957s
M
25*4
80
34%
i
94
25
24
10*4
♦914
27
3434
*102
♦23
35*i
105
35
4*4
23
24*2
10*2
27
35*8
♦1017a 103*2
•7
*9
10
♦7
9
*7
10
52
51%
51*2
*48
53
51
51
84
84
85
•83
85
*83
86
67*8
A
10
52
'If
68*2
673g
67*4
68*4
101*8 101*4
•83
67*8
66%
6684
101
101% 101%
101
101
1013i
*160
171
♦160
168
♦150
159
♦150
102
•100
102
*100
102
*100
_
preferred
16
.
6*8 J'ly
129
57% May
J'ly
35
Jan
Jan 30
Jan 10
Jan 11
113i2Jan 3
27*2
10934
12978
337a
62*s Oct
26% Oct
106*8 Dec
_
115% Jan
1197a Dec
7
Jan 11
100
J'ne25
69
92
35*2 Jan 13
Jan
9
1
48*s Jan 29
110 Jan 30
Deo
Deo
Dec
Dec
Deo
J&n
Jan
18
Feb 11
Dec
22%
42%
17*2
58*2
26*8
2934
68%
Jan 11
2034 Apr
Jan
Jan
Jan
J'ne
98%
108%
148*g
87%
1687s Jan 2
921a Apr 10
95
Apr 10
2478 Feb 4
44*4 Jan
2
1934 Jan 11
29
J'ne
88
6
104
Dec
126
297b J'ne
110734 Feb
Feb 13
1223s Jan
123»4 Jan
75
Deo
25*2 Dec
Mch
87
Feb
146
64*2 Apr
43% Jan
69
Dec
Deo
4434 Dec
103% Dec
957a Aug 14
2838 Jan
2
81*2 Mch 26
26% Jan
Feb
Jan
223s Jan
40*2 Jan
8
Jan
9
68*4
20%
33%
10*2
2984 Jan
9
28, J'ne
13
108*4
16234
93*2
35*2
6312
6
2
Jan 23
Jan
6
Jan 6
Jan 3
Jan 2
Dec
Dec
Deo
103
15034 Dec
88I4 Oct
28
J'ly
57
J'ly
334 J'ne
12% J'ne
Aug 12
17*8 Aug 13
46
Jan
2
8
Jan
3
4
Jan
28*8 Jan 13
11
Jan
6
Jan
Jan
Dec
45
...
14
58*2 Apr 23
48
Feb
61% J'nelO
41i4 Sep 5
92*2 J'ne 3
1934 J'ne 10
70
Aug 14
....
803s Jan
60
Feb
21
.....
Do
preferred.
1,800
2,550 American Car A Foundry
Do
preferred
310
American Cities
J'ne 11
80*2 J'ne 10
36i2 J'ne 10
108
Do
preferred
1,500 American Cotton Oil
Do
preferred
110
American Hide A Leather
Do
preferred
'""166
2,125 American Ice Securities..
American Linseed
Do
preferred
240O American LocomotiveDo
preferred
American Malt Corp
Do
800
preferred
100 Amer Smelters Sec pref B
Amer Smelting A Kefin'g
10,500
Do
670
preferred
J'nelO
33*4 J'ly 2
60*4 J'ne 28
...
Do
J'ne 11
Jan
30
7*2 May 5
40*8 J'ne 11
__
...
6
Jan
47
37b May 1
13
91,950 Amalgamated Copper.
700 American Agricui Chem.
Do
preferred
200
2,200 American Beet Sugar....
Do
preferred
3l",460 American Can.
...
8
J'ne 10
Dec
Jan
May
May
11%Jan
56
142*4 Jan
Jan
29*8 Jan
J'ncll
32
300 Wisconsin Central
Industrial
&
Miscell.
American
J'ne 11
2
...
103
J'ne 11
30
Do
200
preferred..
300 Western
Maryland
Wheeling A Lake Erie...
Do
1st preferred.....
Do
2d preferred
159
♦100
J'ne 4
J'ne 10
J'ly 9
j'ne 4
101*8 J'ne 6
13734 J'ne 11
7934 J'ne 10
.....
11
49
J'ne 10
10*4
2778
7*8
15*4
'
21
♦46
72
Twin City Rapid Transit
86,900 Union Pacific
Do
preferred
500
United Rys Inv't of S F..
Do
""loo
preferred
200 Wabash
;
J'ne 12
May
1387s Dec
18*2 J'ly
§40
Feb
3
3
89*8 J'ne 11
923s Aug 27
19*8 J'ne 12
r"385
6
21
*9
'/
Do
12
41
*18
■I
700 Texas & Pacific
3,670 Third Avenue (N Y)
100 Toledo St L A Western.
11
10 7Js
38
Jan
1325b Feb
23*4 Jan
14*2 J'ne 10
Sep
Jan
36
138
6*2 J'ne 17
257s Sep
23
*105*2 107
149
150*4
43s
40
2d preferred
400 Seaboard Air
383s
*7
J'ne 10
1st preferred
16
♦19
Aug 28
84
Do
♦14
11
J'ne 25
63
126
120%
16*4
63%
22i2
1657s Feb
Aug 16
12*8 J'ne 10
207| J'ne 10
2*4 J'ne 17
13
J'ne28
§797s
37*4
J'ne 10
J'ne 4
J'ne 10
84
...
24
J'ne 10
100
7978
37
J'ly 17
Dec
Dec
142*4 Jan
J'ne 10
15138 J'ne 10
.....
Jan
35
Sep
Dec
16838 Jan
J'ne 12
80*4
IOH4
10678
86I4
Do
8
14
30
J'ne 11 §150
Do
.
19*4
44»4
*20
9
J'ne 11
9378 Sep 3
89i2Sep 3
25*8 J'ne 11
preferred...
94*8
24*2
16
J'ne
98
24
13
9
Western
♦78%
♦13
_
25*8 J'ne 10
J'ly 25
Line.....
preferred
900
91*8 104,445 Southern Pacific Co
Certificates (wh. iss.).
955s
19,820
24l2
5,800 Southern v tr ctfs stmpd.
Do
210
preferred
do
797a
90
May
100 St Louis Southwestern..
Do
preferred
900
70
44*8
♦12*4
52
•181s
443s
90*s
943s
2418
44*2
893s
93*8
_
18i2 J'ly
34% J'ne
132% Jan
9
41*4 Jan
3
12878 Feb 5
19% Jan 30
653aJan 30
283s J'ly 28
v
61*2 Jan
7
11*2 Feb 5
35
Pennsylvania
l"^50
26
*60
J'no
J'ne 11
18*s J'ne 10
Pittsb Cin Chic A St L_.
9
18*2
44*2
38
32
adjustment pref
Northern Pacific....".
24
9
23
♦4*s
42
534
9*2
Jan 30
133
.....
24
47i2 Dec
41
J'ne 10
J'ne 10
J'ne 10
Apr
J'ne
115*4 J'ne 11
preferred
Do
Aug
9
12
......
70
82*4
•21
9,994
Dec
630
10
127
Do
"5",310
Dec
162
Jan 13
445
Jan
2034 J'ly 23
141i4 J'ne 10
126*4 J'ne U
Missouri Pacific
Nat Rys of Mex 1st
pref.
Do
2d preferred
""600
N Y Central A H R
24,230
14,797 NYNH & Hartford
600 N Y Ontario & Western.
1,200 Norfolk &
95
Jan
2
Jan
2
J an 6
Jan 30
7
pref
Do
Nov
45*4 Dec
8*2
16*4
32*2
4912
56
10", 100
9034
11
82U
"2,200
1341a Dec
188
41
45
Do
pref
Minn St P & S S Marie..
Do
preferred
Missouri Kan A Texas
110
•18
37*4
♦81
""400
6
23*8 Jau
21%J'no
159*4 160*2 163,600 Reading
1st preferred
90
•80
2d preferred
'""40
m
89*4
17
17
4,100 Rock Island Company
Do
preferred
27
27*4
1,550
St Louis & San Francisco
5*2
5*2
1,100
*60
24*2
37*4
15
26
12
♦20
30
pref
properties.il
Minneapolis A St Louis
60
46
♦25
247a
80*2
14*2
14*2
*-..-
27
85g
95
♦78
80
♦19
9»4
2578
65*2
18*4
44*4
905s
63
65*2
18*2
45*2
18*s
45
167s
265s
5*2
24
9*2
91*
*88*s
110
15834 160*4
6
•19
24
•20
es
,
♦
2284
96
95*4
92 "
9134
29*4
29*4
104*8 104*2
*80*2 86'
111
111»4
1121s 112*4
1043s 104*2
♦80*2
86
86
♦80
i §*
2834
♦36
1617t 163*2
♦100
'vS I
\ O;
♦56
29
47
937t
100
16
11
Jan
Jan 21
J'ne 11
-8*4
115*2
25*2
104i4
1238
...
132
•14*2
*39
9634
90i4
9134
299s
2978
♦104% 105
♦80i2 86
111*2 U278
1125s H3I4
*88%
90%
Vi,
♦128
16
I
8,000 Lehigh Valley
2,100 Louisville & Nashville...
10 Manhattan Elevated
135
48
16's
9414
N
♦36
•138
22*2
•55
^8
291S
*39
o
40
135
9
Jan 30
9434 Jan 16
167
Jan
8
J'ly 11
20U J no 10
33*2 J'ne 10
pref.
Do
100
Jan
Jan
Jan
Jan
68% Feb
153s J)ec
30i2 Dec
993s J'ly
13914 Dec
J'ne
5
Lake Ene A Western
10
25
1525s 1537s
148
♦140
22S4
*7*2
*20
1st preferred
2d preferred
Do
60
135*2 ♦134
13578 *133
•140
♦58
132
*14*2
16*8
63*8
J'ne 12
305
133s J'ne 11
1,650 Illinois Central.
6,300 Interboro-Metrcp v t ctfl
Do.
pref
18,104
800 Kansa City Southern
I
25*4
Jan 13
Jan
23
Atlan
:::::::
Iron Ore
"
35
J'ne10
Aug 2 8
rl01i4 Feb
86l8 Aug
76% Jan
22d% Mch
1778 Jan
10
2,700 Great Northern
36
80
147*2 J'ne 11
pref
Do
250
108*4
16
25
*128
46'4
36*2
1267s
25*4
152% 163%
1345s 135
131
♦15
u
•„
29
62*2
9*2
*7*2
♦19
Do
8,150 Ene
Do
1,850
150
107S
*34
60
10
13434 136
126
7
108
25
*58
1527s 155
136l8 13612
r
25
21
156S4
28*2
46
45*4
35*2
35*2
125*4 125*2
♦34
35*2
♦1073s 108*2
1578
16
62
627g
60
21
25
♦201*
♦5*2
1078
28*2
46*4
§36*2
1078
28
25*8
♦58
7
362
390
Denver A Rio Grande
*33
Jan 10
J'ne 11
75
Delaware A Hudson
200 Delaware Lack & West. I
♦19
88
103i4 Feb
101% Jan
rl3034 Dec
9234 May26
26634 Jan
9
98% J'ne 10
116*4
145
132% J'ne 12
138
123*4 J'ne 10
181
May23 §189
54
347# Aug 26
pref
1,150 Chicago & North Western
Do
pref
Cleve Cin Chic A St L.
Do pref
ZZ
182
♦36
Jan 6
Jan 29
Jan 9
Jan 22
23
Do
pref trust ctfs..
10,325 Chicago Milw A St Paul.
Lowest
1063s
102i4
133%
1063s
51*g J'ly 11
10*s J'ne 4
tr ctfs
Do
Year 1912.
Highest
J'ne 11
275
A Ohio
Chicago Gt West
600
400
105*8 10634
♦131*2 134
127*4 127*8
127*2 127*2
♦170
pref
Range for Previous
100-share lots
903s J'ne 10
77*4 J'ne 18
.-8334 J'ne 10
208i2J'ly 9
Brooklyn Rapid Transit17,100 Canadian Pacific,
Central of New Jersey..
58*4
14*2
♦29
112
"7",600
300
*285
585s
105*s 106*4
46
i
3,900
82
14*2
1333s 1333s
i276s 128
128
♦81
of
927s J'ne 12
96
J'ly 9
Do
pref..
Atlantic Coast Line RR.
Baltimore & Ohio
322
450
8912
90*8
21934 221
695s
♦13
133*4
82
89*s
8938
21914 2197a
300
58*2
599s
133
*81
82
8878 89%
220*8 2213s
89%
2207s 2229s
basis
Lotoesi
Railroads
20,400 Atchison Topeka A S F
94*4
95*8
93*4
95
9434
§96*8
963s
♦96*2
97
967a
120*2 121
*119*2 121
*119*2 121
95*2 96
95*2
955s
9534
96*2
page
Range Since Jan. 1
On
Shares.
5.
94*2
9678
121% 121%
96
Sept.
preceding
NEW YORK STOCK
EXCHANGE
■
Week
Friday
Thursday
Sept. 4.
see
STOCKS
_
the
Saturday
Aug 30
Weekly and Yearly
TWO PAOES
OCCUPYING
Por record of sales during the week of stocks usua'ly inactive,
,
r
33*2
92i2
3i2
15*8
Jly 9
J'nelO
17
„
J'nelO
J'ne 12
Sep
2
67S J'ne 10
20ia J'ne 10
27
J'ne 10
997s Aug 12
7*8 J'ne 4
45*8 J'ne 10
79i2 J'ne 12
68i2 J'ne 10
3
57
Jan
54*8 Deo
99
Jan
98
50*2 Jan
Mch
86
Mch
11% Feb
90% Feb
2
673s Jam
2
115
6
78*i Jan
96*t
6*s
28*4
2784
11*2
31*2
4412
106*4
Feb
,
3
Feb
20
Feb
Apr
18
Jan
Jan 31
Jan 81
Jan 6
Jan 2
Mch
Feb
Jan
103
3
Jan
9'
30
31*4 Feb
3
9
74*4 Jan 30
Jan
96
4
Jan
86
•
30*4 Oct
76% Aug
4 512 Jan
Jan 10
Jan
8
Feb 10
6U2 Jan
13
Feb
49
6
4884 Jan
Nov
90
_
4678 Jan 31
129*2 Jan 30
66«s Jan
2
117
J'ly
46% Deo
4% Jan
42
Jan
84
Deo
66% Dec
102% Jan
J'ne
6
107
Feb
150
Snuff..
preferred, new..
97
J'ly
9
193
Jan 22
123
Mch
100
J'ne
6
105
Jan 21
99
Feb
7
BANKS AND TRUST COMPANIES—BROKERS' QUOTATIONS.
Banks
j
Bid
Ask
560
575
Benki»
Bid
Chat A Phen.
New York
Ameriea f
165
175
Fidelity!
130
150
Fifth Are!.. 4500
Amer Exch
215
222
Chelsea Ex!_
Chemical
Battery Park
Bewery!
120
130
Citizens'
425
Bronx
Nat..
180
Bryant Park!
150
Coal
195
160
Iron-
275
120
135
Commeroe
Century 1
205
220
Corn Exch 1
625
650
Coemopol'irU
...
—
East
•
_
this
Ask
280
295
Mt Morris
495
610
Mutual!
175
180
Nassau
190
200
615
625
New Neth!__
210
225
Sherman
330
360
New York Co
850
875
State!..
Banks
300
325
985
170
175
Lincoln
230
.....
Imp A Trad.
Irving
Liberty
!-
...
Banks
430
Second
290
Bid
Seaboard....
395
.....
Security !_..
....
-
115
ASM
425"
125
135
180
2"lb"
270
Manhattan
!
320
330
New York...
395
405
23d Ward!..
140
160
137
143
Mark A Fult.
230
240
Pacific !
255
265
Union
Exch.
145
155
German Ex !
375
425
Mech A Met.
228
234
Park
357
365
Wash H'te !_
275
460
475
Merch
Exch.
150
155
230
250
Weetch
AvU.
160
160
170
West
Side!.
450
225
275
Yorkville !._
500
85
90
Garfield
305
315
Gotham
86
105
Greenwich !.
250
Hanover
625
80
....
....
170
.-Jmmmm
040
Merchants'.
_
Metropolis!.
Metropol'n !
day.
t Ex-rights.
| Leas than 100 shares,
at auction this week,. 4 Ttaft Instalhaeot pakU. » Bold
on
Banks
Germanla!..
300
tl75
River..
Bid and asked prices: no sales
t Bale at Stock Exchange or
..
Bid
Harriman
Germ-Amer !
mmmrn
450
Columbia!
Ask
250
Ask
175
950
First
Fourth
Bid
225
Bid
165
Fifth
178
Colonial 1
Butch A Dr.
Chase
400
170
t365
&
Banks
380
Cen
City
Boro!
[Bronx
Ask
175
180
People's !—
Prod Exch !_
325
350
PubllcTj.—.
180
190
f State banks,
a
Reserve
Ex-div. A rlgnta.
175*
600*1
-
b New stock,
prloe._ s Ex-dlf»,_ I FuR paid./
/ Ex 24% aocum. 4tr»
SEPT. 6
For record of sales during the week of stocks usually
STOCKS—HIGHEST
the
Tuesday
Wednesday
Thursday
Friday
Veek
Sept. 2
day
(.1
Sept. 3
Sept. 4
Sept. 5
32
*31
*30
32
*30*2
109l2 10984
11112
*113% U8
♦11314 118
13034 13084
1307ft 131
*30
109
♦113% 116
131
131
230
230
230
§100% 100*2 *100
102
100*4 101*8 5101*2 101%
230
*19
21
20
20
*19
21
*79
87
♦79
81
*79
81
♦79
§18
18
17
17
*16
18
m -
37%
86*2
86%
86*2
*45
45%
45%
4534
♦100l2 105*8 *100*2 105%
36
3512
357g
3634
*72
*73
74
73*2
j
.,
I
I
•
|
I
*72
27
♦2534
73
127
130
*127
130
*127
|
130
*2534
20*4
2134
53
1
i
.
53
53
53
54
99
99
*95
99
•
24
937g
427s
317g
*93*2
4134
94%
3078
31%
23is
1
1
937«
4134
1
1
20
21%
59*2
23
22*4
427„
4,450
22 34
23
9412
4234
31
94*4
425s
121
16
96
Leather
17
J'ne 10
z88
J'ne 10
45
:
Case(JI)ThreshMpftr cfs
"i~,oo6
94*4
44
315g
131%
1034
68
06*2
preferred
t ctfs.
Central
Do
225
„
Copper
Par $5
24,650
Colorado Fuel & Iron
1,070
1,975 Consolidated Gas (N Y)_
Corn Products Refining.
2,600
24i2 J'ne 10
11
11
•
*65
67
♦65
68
*65
68
31%
130-%
1034
*65*2
1
*94i2
*947ft
96%
596
96
*9434
i
*13
96*2
1414
14
*13
14
*13
14
Beere & Co pref
istillers' Securities
i
♦11
14
*11
14
*11
14
*11
14
Federal Mining & Smelt'g
42
*37
42
42
♦37
42
145
145
317ft
«
1
1
*37
1
*13
14414 144U
29
90*8
46*4
15*2
47*2
1534
37*2
.
♦79i2
•
•
f
•
t
c
•
2834
89*8
2834
46%
46%
■
115
•"•
1
1
•
<
*7
'
116
'107
107*2
'113
115
4
§8
8
*23
30
♦23
90
♦80
*80
90
*7
9%
♦102
♦102
A
100
100
♦35
40
100 Lackawanna
98
*93
100
96
96
217
*212
217
♦212
217
*212
215
♦111
114
♦111
112
♦111
112
♦110
114
*95
...
33%
33*2
*955ft 100
33l2
1 ■
111
68
♦97
3
•9584100
67*2
*98
100
*98
*58
60
67*2
*67*4
6734
*67*4
112
112
113
♦111
i70
♦163
170
>
60*4
23*4
60
100
100
100
1,500
'
1
I
.
1
*83
86
ft."
♦27
*70*2
21
20
30
20%
22
2134
•
i
74
*70
74
•70
•
*27
*70
21,
*20*2
30
*27
118
117
20*8
84i2
25*8
83
83
847g
847g
25
25
25
25
1
20
ft
i
84ig
25l8
■j
•
•
•
96
*95
■
•
118%
.19%
197ft
«
*93
.
25%
25*2
19%
20
19*2
25*2
19*4
24
25
24
24
•
*88
89*4
877ft
20*4
48*2
18
1
•
187ft
47
i
96
....
97
1934
20*4
524*8
19
18
18
.18
56
54
189
180
49
181
307ft
88
88
21
54i2
180
Do
16~,606
300 Sloss-Sheffield
*22
25
*22
24
83
*80
86
200
3178
12434
32
122
122
32*4
325s
121*2 123
*85
94
*85
94
*85
§111
111
*105
111
♦105
111
5
5
2334
2334
*22
512
26l2
5*2
♦22
13
111
*5
25*2
*5
•
5*2
13
*11
13
*11
50
*47%
50
*47*2
50
*9l2
*47*2
26*2
15
50
*65
69
♦65
68
♦66
69
62
62
61
106
106
§106
61
61%
106
61
106
61
106*2
615s
*72
"62"
x6278
64%
108% 108%
54%
65
63*4
537ft
5484
*27
.28
26
26
*26
28
*98
103
*98
103
♦98
103
68
68
*67
108
"
108*2
617S
1
^
72%
♦HI
•
•
73*2
119
*93
•
•
114
*67
71
92%
♦112
10858
547g
275s
*98,
69*2
72%
7212
119
♦110
95
*112
•
69%
71%
♦111
93%
114
119
*92*2
♦112
6778
713g
♦111
9412
114
Standard
Do
6778
715g
93*8
12478 Jan
118
Aug
88
Oct
Dec
112
Jan
t
90% Oct
$3014 Sep
•;
62% Apr
5231ft Feb
Dec
122
8
161
Apr
Dec
114
131
J'ne
26,
95i2
68I4
11078
$24i8
Oct
Jan
Oct
Nov
Sep
85
Nov
19*4 Jan 30
1214 Feb
92*4 Jan 30
88
J'ne
9
J'ne
6
Feb
51% Jan
105% Feb
56*4 Jan
2
1075s J an 27
20
Jan
2
14*2 J'ne 11
J'ne 11
77
7
2834 Feb
101*8 Jan
7
96
"~6o6
100
Jan
9
Jan 13
22
28*8 Jan 31
J'ne 11
89*2 Aug 12
89*4 Dec
317g Apr 26
l
2134 J'ne 12
Sep
2
82
*2634 J'ne 10
Jan
9934 Jan
213*2 Jan
45i2J.ua
40% Jan
6678 Feb
36
Feb
2
36
Dee
4
53
Jan
66
Oct
6
30
J'ly
4912
98*8
$47*4
1305ft
115*4
114*2
177ft
6734
22i2
643ft
93*4 Jan 13
39i2Jan
4
Aug 29
J'ne 10
126
J'ne 10
104
J'ly 10
J'ne25
914 J'ne 10
44*8 J'ne 6
59*8 J'ne 11
53
J'ne 10
1st
98
J'ne 10
2d
763a Jan
3
4978 J'ne U
102i2 J'ne 10
395s J'ne 10
22
J'ly
1
93
J'ne 30
58*2 J'ne 10
Teleg
53% J'ne 10
Do
1st preferred..
Woolworth (F W)
10778 J'ne 13
8U2 J'ne 20
109
......
J'ne 14
6684 Jan 31
Jan
9
77
69i2 Apr
10934 Apr
4
9
81*2 Jan
9
69*8 Jan
2
UO34 Jan 30
6058 Jan
43*8 Jan
Jan
114
2
3
3
75*« Jan
9
2
11984 Jan 17
112
Jan
2
79U Jan
115*2 Jan
8
221
Jan
90i2 J'ne
$34l2Feb
81
Jan
Dec
J'ne
45ft Jan
35*8 Dec
13
Feb
50
Jan
67
Jan
«
Aug
Aug
Hay
Sep
J'ne
Sep
May
May
May
Oct i
677a May
116
Jan
68I4 Feb
*0714 Dec
$5213 Jan
40*4 Deo
,
86*j J'ly *
4514 Feb
1055ft J'ly
75
Not
6934 Sep
3914 Jan
16*4 Jan
110
734 Jan
3
4134 Jan
8
10'4 Jan 30
103l2 Oct
99*2 Dec
95
99*2 Jan
3
113
Jan 21
4i8 J'ne 11
nov
140
89
22
Oct
35
93*8 Oct
101
7
4
2
28
31
'78
Pipe & Fdy
Sep
Apr
Oct
Aug
Aug
gep
Aug
Aug
175
Aug
4034 Sep
105
Aug
$24*8 Sep
553s
122*2
27*4
100*4
407ft
10334
1207ft
1534 Feb
64*2 Feb
92i4 Jan
52i2 May
preferred
10634 Feb
158*2 Feb
27% Feb
98*4 Dec
$16
Jan
Jan 21
Jan
2
J'ne 10
Do
Do
165
Feb
J'ne 10
15434 J'ne 12
23
J'ly 8
4,520 W estLug^ouse El & Mfg.
114
118
35
1434 J'ly 15
36
J'ly
1
...
Steel & Ir
Union
Feb
9
Jan
72
preferred
Western
1634 Mch
Jan
36
Do
""360
Jan
15
U S Realty & Improv't..
1,000 United States Rubber...
982
Dec
103
17
preferred
Do
45
5
2
90*4 J'ne 10
Milling
U S Cast Iron
4
46
2214 J'nr 11
Corp (The)
preferred.
Do
Jan
12134 Sep
243s Jan
95
88*2 J'ne 10
109
J'ly 11
149
Sep
5
_
100
Feb
50
18*2 J'ne 10
preferred
Do
$18i4 Jan
8
73
Underwood Typewriter.
Do
10
preferred
100 Union Bag & Paper.....
117
93*2
♦112
128*2 Jan
Aug
105
2
4
4
3
J'ly-18
Oct
118
Apr
6
__
6,000 (/Tennessee Cop_.Par $25
3,600 Texas Company (The)..
92
62l2
625g
108*8 1083g
54
5412
,
105*2 Jan
78*4 Feb
26*2 Jan
215l2 Oct
225
'
69
2
J'ne 10
Mch
10734 Jan
May29
100
preferred....
preferred.....
6334 178", 175 United States Steel.,
Do preferred
r,7oo
1085s
Par $10
56
27,650 dUtah Copper.
300 Virginia-Carolina Chem.
2734
Do
preferred
103
1057g 10578
i
76*8 Jan
J'ly
47*8 J'ly
105ai not
9234 Oct
167
Jax, 28
Feb 20
4
100 Studebaker
*80
94
116*2 Jan 22
J'ne
Cop Par $5
900
85
122
8
95
200
J'ne 10
Dec
44
Rumely Co (M)
Do
preferred
;
1,400
600 Sears, Roebuck & Co
'•
24%
,
Jan
J'ly 18
J'ne 13
J'ne
preferred.:
♦80
3134
90
9
9
(iRay Cons CopperPar$10
♦22
31%
Jan
Jan
Jan
Dec
Oct
75
850 Republic Iron & Steel
Do
preferred
882
82
32%
125*4
94
105
4
116
Railway Steel Spring
22*2
,
Aug
„
10834 Jan
102*8
156%
105i2
36*2
102%
6
J'ne 11
20*8 J'ne 10
104
J'ne U
Pullman Company
6434
69
:
s
55
...
"
34
*47*2
-
21
Mch
116% Jan 23
397s J ~»n 6
J'ne 10
30*2
*11
ft
235
J'ne 11
♦62
*66
ft
104i2 Jan
6
23
*32
1
ft
4
J'ne
104
*29l2
307ft
1
\
J'ne
10612 J'ly 22
8,950 People's GL&C (Chic).
1,200 Pittsburgh Coal..
Do
preferred
1,000
Pressed Steel Car
2,600
Do
preferred
125
Pub Serv Corp of N J
6434
*5
!
91
195
Mch
8778 Aug
34
♦22
•
8
7
38
30
*105
9
4
297a J'ne
,
Oct
28«4 Dec
30
•
•
497« Feb
89*2 Oct
105*2 Oct
55l2 Sep
74i2 Jan
*62
•
•
Oct
31*2 Jan 22
♦32
3184
ft
109
Sep
100
J'ne 10
82
J
Dec
71
4
16
6434
♦85*2
1
107
5
Jan
New York Air Brake
34
.
125
i
2
Feb
Jan
8H2 Jan 14
dN evada Cons
22%
5
Jau
81
102
Steel.
preferred
*62
s
•
110
J'ne 10
97
Mexican Petroleum
*32
*62
.
845s Apr
9534 Oct
1st
6412
*"32
»
Dec
IO734 Jan 22
58
J'ne 9
...
3412
•
•
•
1
Dec
90
82i2 Jan
88
21
„
63
3
9
241g
88
34
9
Feb
J'ne
107
♦102
Dec
Jan
60
450
1934
12
70
94
J'ly 16
"l~,882
237g
Mch
1934 May
627ft May
J'ne 10
2534
2534
25*2
77ft Mch
26
13
150*2
149
195s
47
'31
31 <
96
'
2378
588
181
182
182
t
84l2
26*8
Mch
4
15*4 J'ly
93ft Jan
*4 57ft Jan
Jan 7
Jan 30
Jan 30
Jan 9
North American Co (new)
..
850 Pacific Mail..:
Pacific Telep & Teleg
1934
833g
2514
153
*93
•
2
*19*8
♦109
151
97
•93
97
96
*109
155
♦153
26*2
•2512
•
*94
*109
153l2 154
...
96
§96
*109
•
117*2 117*2
19*8
19*8
7
2
19%
125s
48i2
18*2
4
56
y,450
12134
30
45gJan
81
109i2
r$62%
$21*8 Oct
2214 J 'ne 13
83
J'ne 11
L) com
Liggett <& Myers Tobacco
Do
preferred
Do
113*2 May
$165a Dec
Sep
Aug
Oct
Oct
Deo
Aug
Sep
Sep
J'ly
Sep
Sep
Sep
Sep
j'ne
7*2 J'ne 10
36
J'ne 12
6
May 5
300 National Lead
Do
preferred
21*2
30.
IIS84
108*4 J'ly 29
27s J'ne 10
Nat Enamel'g & Stamp'g
Do
preferred
74
118
I
ft
30
86
73
•27
•
•
•
*83
4 884
*47
*47
48s4
49%
48»4
49*2
*105*2 109*2 *105*2 109% ♦105*2 109*2 ♦105*2 10912
16
16%
16
161s
163s
16*8
16*8, 16*4
70
•64
69
*63
*65
*65
71
70*2
•
9512 J'ne 10
Msyi2
111
Par $5
3,000 (/Miami Copper
100 National Biscuit..
4834
1
1
86
*83
86
♦82
114*8 Aug 15
..
60l2 61*8
60*4
23
23%
23%
23*8
23*8
23*8
23*8
126
♦124
♦124
126s
127*8
127*8
*124l2 127
120% *116
120*2
120*2 *116
§120*55 120l2 ♦116
*14
*14
15*2
*1312
15*2
15*2
*13%
14*2
60
Mayi2
89
preferred
Do
84
2d preferred.....
*150
200 Lorillard Co (P)
Do
103
preferred
100
66
400 May Department Stores.
Do
97*2
preferred
100
♦85
*163
113
67%
100
100
*85
173
♦111
1)1
68
<
*92
*85
*163
170
168
J'ne 10
14ig J'ly 12
preferred
Do
Dec
96
200 Loose-Wiles Bis tr co ctfs
3412
*31*4
34
*31U
*95% 100
*85
1
33%
"266
Dee
111
100 Laclede Gas (St
*92
*212
3
Do
105
$47
7
9
20*8 Jan
3
110
J'ly 29
Oct
NOV
427ft
8234
60*4 Dec
53*8 Jan
Sep
36I4
2134
5234
188*2
70*4 May
.05% J an
Oct
Oct
Deo
89*2
100*4
Feb
88% Sep
4
4034 J'ly 11
Kresge Co (S S)
76"
Aug
Apr
40*8
72l2
95*2
101%
33%
1001?
$50*8
4334
149*2
22*8
Jan
30
t
25i2 J'ne 10
Pump...
Do
preferred
Kayser& Co (Julius)
Do
1st preferred
/
2
155
50 Internat Steam
100
29
2
Aug 18
8U4 Aug 18
68
Jan
2
preferred
76
40
Jan
40
May
Do
*35
38
38
40
*37
187
May 15
12i2 J'ne
100
Sep
149
37*8 Jan
pref stk tr ctfs
International Paper
*98*2 100
*98*2 100
♦98*2 100
2
Do
74"
*71
.80
1114 Feb
Jan
Int Mer Marine stk tr cts
*102
*102
72
*70
83
♦65
Jan 22
70
preferred
6034 Aug
108*8 J'ne
51% Oct
Dec
18
Oct
127*2 Oct
Dec
20
25
""lOO
9*2
*6%
75
May
$48
99% Dec
2
12934 J'ne 10
Internat Harvester Corp.
Do
preferred
730
Jan
44
Internat Harvester of N J
""166
10
Mch 19
.
""228
37
•36
Feb
Jan
23*ft Feb
13534 Dec
J'ne 10
pre! V t ctfs
Do
16i2 Feb
80
$25
13
Do
preferred
600 t/Guggenh Explor Par $25
a Insp'n Con Cop Par%2,0
5,000
150
9978 Dec
33
1,300
90
♦25
87
*8*2
884
Corp
Goodrich Co (B P)
30
*80
30
*80
3
36*8
♦1534
10
♦25
•
*7*2
4
173g
9*2
*9
37%
9*2
30%
1
5
36
t.i66
2134Jan
934 J'ne 10
preferred
Do
115
*3*2
334
17*8
7% J'ne 10
61*2 J'ne 10
94i8 J 'ly 8
General Electric
116
107*2 107*2
♦113
?6
9l2
38
*36
•
15*2
125*8 J'ne 10
preferred
500 Gen Motors vot tr ctfs
109
♦113
384
*15*8
173ft
*16*4
47
158s
109
'113
*334
4
173g
*3*4
*16*4
♦46
153a
(107*8 107
107%
*113
885g
885s
46
15*4
29
1,000
81
*28
115
107*2 *107
♦113
1
116
♦107
1
46
♦79
116
♦113
♦113
f
t '•
90
Do
63
Do
144% 1445s
*35
37*2
143l2 144
37*2
*78*2 81
28% 29 ,
885g 88*8
*35
15%
15%
*107*2 1 0834
*107
1078
*37
81
♦79
130
10*2
37%
37%
3834
81
293g
90
s
1
11
1034
1
I
130
129% 131
131
131
1
Dec
84
6
30*8 Feb 5
97*4 Mch 3
47% Jan
2
4112 Feb 3
14238 Jan
9
17*8 Jan 31
79*4 Jan 31
100*8 Jan 16
30*8 J'ne 10
dChino
Nov
49*4 Dec
56i2 Feb 3
86
Jan 30
10338 Feb
Feb
Feb
Feb
Mch
28
9
Aug 12
1377a Jan 27
31
Feb 8
Aug 7
J'ly 23
Aug 20
v
102.%
2734
56*2
137*2
_
4U2Jan
Mch 27
preferred
Do.
105i2 J'ne
J'ne 10
25
9412 Mch
413ft May
105% Feb
49 " Dec
53*2 Jan
74
31
Dec
251# Jan
$34
Feb
4U2 Jan
Jan
J'ne 10
32412 J'ly
1063ft Jan
Nov
79
120
J'ne 10
13312 Mar
124
Sep
149*8 Mch
18
432*4 Jan
62i4 J'ne 10
Ca-Pornia Petrol
700
7
25
Butterick Co
99
*93*8
42%
531
23
2234
2134
*95
Aug
10014 J'ne 25
Brooklyn Union Gas
27
22
60*2
7*
40
preferred
Do
May
307g J'ne 10
86i2 Sep 3
Bethlehem Steel
200
106i8 Jan 27
21
Apr 17
81
Jan
0
16
Realization
115*2 Jan
137% Jan
24US Feb
101% Jan
29434 Jan 10
74
100 Baldwin Locomotive
Co
pre/erred
'3", 200
6
16*8 J'ne 10
4438 Oct
Jan
26
ll3i2 Deo
118
J'ly 11
96
*
Highest
Lowest
40i2 Feb 3
Jan 31
11638 Jan 28
3
140
Jan
9
J'ne
200
new
Amer Writing Paper pref
aAnaconda Cop Par $25
100 Assets
73
"130
*2534
55
*95
*95
t
7214
♦127
27
2U2
27
22
♦2534
«
7,665
*86*4
*8614
1
'"l05
377g
38*2
37*8
*86*4
90
90
45*2
*44% 45*2 *4478
105*8
'102
105*8 ♦102
35
35*8
34l2 34%
377ft
37%
38*8
3712
«.
-
Preferred,
Woolen
300 American
Do
preferred
80
■
Telephone & Teleg
300 American Tobacco.
440
20
20
Amer
'"600
13034 130*4
230
237*2
J'ne
25
Previous
Year 1912
Highest
10434 J 'ne 12
110*8 J'ne 12
125*2 J'ne 10
Refining
for
Range
1
Jan.
100-share lots
of
Lowest
400 American Sugar
Co
preferred
230
*230
basis
Oh
Industrial & Misc (Con)
Amer Steel Pound (new).
32
109
31%
11H2
Since
Range
Shares.
*107
preceding.
inactive, see second page
STOCKS
NEW YORK STOCK
EXCHANGE
Sates of
SALE TRICES
LOWEST
AND
651
Record—Concluded—Pace 2
New York Stock
1913.]
•
May
85*2 May
8034 Sep i
117
Sep
$8712 Sep
67iJ Jan
122
1147s Dec
71»4 Dec
Mch
86*4 Jan 1
891ft Aug
66*4 Jan
11478 Jan
126
Aug!
1177ft Oef'
U684 J'ly
112% J'ly
93%J'ly
t
BANKS AND TRUST COMPANIES—BANKERS'
Bank.
Bid
Brooklyn
Coney isl'd 1
Ask
Banks
Bid
Ask
Bid
Trust Co's
155
273
285
Central Trust
300
North Side*!.
175
200
Columbla-
145
160
People's
145
155
Green point-.
Manuiact're
.
400
425
160
175
.....
140
205
'8(1
Ex
ilan2:e
or
220
Bid
QUOTATIONS.
Ask
Bid
Trust Co's
Ask
NY City
Truat Go's
Eld
Brooklyn
Brooklyn Tr.
990
Knickerboe f465
88
_
1000
«...
470
490
145
166
92
300
Empire
270"
260
286
110
ISO
130
140
990
1000
Law T I & Tr
Commercial
Trust Co's
100
Montauk T—
Nassau
125
80
1
Mechanics"!.
....
155
«...
Homestead
Trust Co's
NY City
N Y City
Brooklyn
National City
280
Hillside]]
Ask
170
175
N Y Trust...
600
615
Cltlsenjf
Lincoln Trust
120
130
TitleGu Alt
416
420
Franklin
420
Transatlantic
200
220
Hamilton
Union Trust.
380
395
Home
USMtg ATr
440
450
United States 1090
1110
350
365
146
166
Hudson
....
Metropolitan
Mutual Alli¬
455
465
Farm L & Tr 1050
1150
350
365
Fidelity
210
220
Tr.
430
440
Fulton...
290
315
B'way Trust-
150
160
Guaranty Tr.
540
N Y Life & Tr
....
..
...
......
550
Equitable Tr.
NY City
Astor
Bankers'
p*icea: j?° 8ai®8 on thls dftyauction
this week,
t
* D®88 than
Ex-stock dividend.
shares.
130
ance
Mut'l
$ Ex-rights,
140
140
150
(West¬
chester)
Washington
.
Westchester.
a Ex-div. and rights.
1i Banks marked with a paragraph (ID
* New stock,
are State
banks,
s
Rings County
Nassau
6S0
ISO
_
140*
295
108
„.
d Quoted dollars per share,
Ex-dividea<L
]
,j
28S
...
People's
Queens Co
\
t Bale
—
.
;
653
New York Stock
Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 1 1908 the
Exchange method oj quoting bonds
w
BONDS
„
W.
Y.
Jo S
Price
U. S. Government.
2s eonsol registered,_dl930
Jan. 1
Bid
Ask Low
No.
High
Low
Sale
98
98
98
98
103
102%
High
11918
1925
XT S 4s coupon
1925
U S Pan Canal
10-30-yr 2s 11936
'U S Panama Canal 3s
g
19G1
Foreign Government.
Argentine—Internal 5s of 1909, M
Chinese (Hukuang) Ry 5s £
J-I
"
Imperial Japanese Government
Sterling loan 4^s_
.1925 F
*
2d Series 4^s
1925 J
1 Sterling loan 4s
..1931 J
Republic of Cuba 5s exten debt. M-
7
10134 10334
110
114*8
110
1141
i 88i2
t
88*2
8
80
8OI4
Aug'13
10014 100
100*4
94i2 9434 J'ly '13
1
96*2 J'ly 13
t 84i2 84% 84%
84%
90
t
93
Aug'13
72
84
85
May'13
These
are p rices
on
the
84
85
N Y City—4 Ms
1900 M-S
V 4Ms temp reels (w 1) ,...1963
t 4%
Corporate stock
1959
\ 4% Corporate stock
1958
4% Corporate stock
1957
■
!
Ms
4Ms,-*
New
1957
19,17
4M% Corporate stock__.1957
4M% assessment bopds_.1917
3M% Corporate stock
1954
N Y State—4s
;
.1961
Canal Improvement 4s
1961
Canal Improvement 4s
1962
r
'
Canal
9712 Sale
97*2
9734
101% Sale 101*4
102
95
Sale
94i2
95
94
95is
9412
95i8
93*4 Aug'13
102
1023s 100*2
102
100i8 101
100*2
100*2
102i8 Sale 101*2
102%
100i8 101
100*2
100*2
8284 83
8234
.8234
97
98i2 97S4
9784
9712
9778 Aug'13
of $5 to £
98
settlement 3s
99
9734
9734
Improvement 4s
new
120
11
7
..
1960
Bouth Carolina 4 Ms 20-40..1933
Tenn
7
98
99
"16
9538 10034
99% 102
9034 975s
9012 9734
9134 9734
9978 10512
4
100
102
13
100
105*2
15
100
10134
9
8034
2
97
99
10134
103*2 J'ly '10
1913
.Virginia funded debt 2-3s__1991
-J
6s deferred Brown Bros ctfs
48i8
4812
70
74
'99*
99
Apr '13
86i2 Dec '11
48
48*4
25
99
42*
59
Ann Arbor 1stFe gen
g 4s
tch Top & S
g
7il995
Registered
»
1995 A-O
hl995 Nov
Registered
.
Stamped
4
87
'....
86
1055 j-d
Conv gold 4s
1955
:\ Conv 4s (issueof 1910)_.il960
J 10-year conv gold 5s
1917
Debentures 4s Series K
1913
East Okla Div 1st g 4s
1928
Short Line 1st 4s gold....1958
Cal-Ariz 1st & ref 4Ms,..1962
: •,
..
S Fe Pres & Ph 1st g 5s
Chic & St Louis 1st 6s
j-d
j-d
j-d
F-A
M-S
J L & N coll gold
Sil
gu g
4s
Gold 4s
Registered
20-yr conv 4j^s
\ Pitts June 1st gold 6s
,.
Sale
1925
7j1925 Q-J
7i 1948 A-O
_/i 19 4 8
Q-J
1933
..1922 J-J
P Junc&M
Divlstg3Msl925 M-N
PLE& W VaSysref4s__1941 M-N
Bouthw Div lstgold3Ms_1925 J-J
; Cent Ohio It
lstcg4Ms..l930 M-S
CI Lor & W con 1st
g 5s. .1933 A-O
\ Monon River 1st
gu g 5s_.1919 F-A
j
.
86*8
87*2
99i2 May'13
95*4
957„
96%
,
96!
995s :, 100
99*4 J'ly *11
1936 J-D
1937 A-O
Pitts Clev& Tol 1st g6s__ 1922 A-O
:
Pitts & West 1st g 4s
1917 J-J
;
StatlslRylstgug4Ms._1943 J-D
Buffalo R & P gen g 5s....1937 M-S
;
Consol 4 Ms
1957 M-N
All & West 1st g 4s gu
CI & Mah 1st gu g 5s
,
.
1998 A-O
1943 J-J
Roch & Pitts 1st gold 6s..1921 F-A
Consol 1st g 6s
1922 J-D
Buff& Susq 1st regg4s
dl951 J-J
panada Sou cons gu A 5s_1962 A-O
Registered
1962
Centralof Ga 1st gold 5s__pl945
Consol gold 5s
..1945
\ Registered
1
1945
> 1st
pref income g 5s_
pl945
2d pref income g 5s
pi 945
\ 2d pref income g 5s
stamped..
Sd pref income g 5s
pi945
: 3d pref income
g 5s stamped.
GQ
99
107
Feb'13
98
89*
11318
101%
90% 100
90% 91
....
Sale
9012
91
89i4 J'ly '13
90%
92
9134 Alay'13
9238
92%
112
-
88
88% Sale
"20
88
88
"50
90*2
89*8
9778
91*2
97
88*2
387
9134
'
105
....
94
88*2
91
....
105*2 106
101
90
....
107
10812
....
90*4
106*2
M-N
M-N
Oct
96*8
97
103*
Aug'13
103*4 Apr '13
11038
103
10434
9534 9534
J'ly '08
107*4 J'ne'13
108*4 Aug'13
107*4 110*2
108*4 llDg
45*2 Apr '13
105*2 Sale 105*2
105*2
IOO34 Jan '11
110% Mch '13
116"
110%
102
109
38
103
Nov'11
107
Oct
Dec'11
96
48
106*4 i06*4
Deo *11
105
'
104l2 106*4
I0478
IO6I4 Mch'13
Oct
Dec'11
85% Oct '10
j"-D
82
J-J
9712
10714 Jan '12
97*2 102*2 98
Aug'13
97*2
10934 May 11
90
..
J-J
J-J
90
Feb'13
90
90
.
98*
98*
101
101
99«4
112*2
112*2
IOI84
100
100
"84"" "86"
e!920 Q-F
100i2 Jan '13
83i2
83i2
J'ne'13
101%
100
113i2 Aug'13
II284 11584 11234
11284
103
104
IOI34 Aug'13
100
11938
118*2
105*2
100*2100*2
83
I
i
i
5s_1945 A-O
100% 100% 100%
89% Sale
88%
100% Sale 100%
,
conv gold 4s
2002 J-j
Bk City 1st con 5s._1916-1941 J-j
Bk Q Co & S con gu g 5s._1941 m-N
Bklyn Q Co & 8 1st 5S...1941 J-j
Bklyn On El 1st g 4-5s.._1950 f-A
Stamped guar 4-5s
j.1950 f-A
Kings County El 1st g 4s_1949 F-a
Stamped guar 4s
1949 F-a
Nassau Elec guar g jld 48.1951 j-j
Chicago Rwys 1st
5s
1927
Conn Ry & L lst&ref
5g 4^s '51
Stamped guar 4
1951
Det United 1st cons p 4^s_1932
Ft Smith Lt & Tr 1st g 5s..1936
Grand Rapids Ry 1st g 5s_.1916
f-A
j-J
•
j-D
No prloe Friday; latest this week,
98
101
9984 Sale
99%
10034
4
99*2 103%
89%
81
100*4
Apr *13
May'13
1
84% 92%
99% 102%
-
99%
82
84
77
97%
98%
98
80
....
....
95
70
Sale
89
95
94
.
76% Sale
d Due April,
12
mmmm
....
08
1
98
100
100
..
....
21
*"i
100
101*8 106% Jan '13
96
9734 Feb '13
"07" mi
75
Sale
115
....
88*4
"jll
*91*
95
12
82
86
J'ne'll
*88*4 IIII
88
Aug'13
10234
10234
102i2
10034
102
Aug'13
Sale 102%
103%
103
101% J'ne'13
Sale 10034
10284
103
1023j,
May'13
104% May 13
102
102*2 102
126
240
..
102
91
Sale
100*8
105*2
109
91
9178
100% J'ne'13
J'ne'13
110
J'ne'13
102*2 102*8 Apr '13
10178 J'ly '13
106
....
101
101
....
10634 107% 109% Feb
13
100
May'13
100% Aug'12
103*8 103*2 103%
103*8
91*2
95% May'13
91
96
82
"95 " Sale"
107
-
100
....
....
....
114*4
Jan '13
82%
82%
8434 Jan *13
9434
95,
102
100
1
101
J'ly *13
101
Deo '12
10034 Aug'13
10078 Aug'13
117
J'ne'13
90*2 Sep ;09
II" I
1073411 ll2 108%
102
105
107%
109
114%
109*8
113%
9214 9234 92*8
115
IO6I2
105*2
108%
103
10412 103%
....
106
12
""4
105% Aue'13
104
May'13
104% Oct '12
109
Aug"'"l3
Feb '13
Feb *13
Mch'13
92%
J'ly '11
Mch'13
J'ly '13
,88%
-95-
Aug 10
88*2
91
88*2 Sale
78*4 Sale
79*2 Sale
Dec '12
77%
78%
97
~"
78%
79*2
83
16
Sep '11
94% J'no'11
50*a Sale
56%
57%
123
63% Jan '13
M-S
"85"" IIII
A-O
A-O
100
....
103
98
85
J'ly *13
107*2 May'13
'11
' 105*4 Sep
J-D
Choc Okla & G gen g 5s__ol919 J-J
Consol gold 5s
•;
,1952 m-n
Keok & Des Moines 1st 5s.1923 A-O
StPaul& KOShLlst4Ms'41 F-A
Chic St P M & O con 6s
1930 J-D
Debenture 5s
1930 M-S
Ch St P & Minn 1st g 6s
1918 m-n
North Wisconsin 1st 6s
1930 J-J
St P & S City 1st g 6s..—1919
&§
-M
"95* I60"
95
Sale
95
Ma"y'13
Jan '13
95
89
79% Aug'13
U4% 120*8 11484 Aug'13
89*4 Dec *12
10X34 Sale 100*2
101%
»
113
....
19
119% Feb *13
113
129% May 09
105% 108*4 106 Aug'13
90
106%--86
Rap Tr 5s Ser A.1952
(NY) cons g 4s_1990
Stamped tax-exempt
1990
Metropolitan Street Ry—
Refunding gold 4s
—2002 A-O
Farmers Loan & Tr ctf
105
.1952
99%
106
•99*4
-J
on
11
95
84*2
1918 M-N
50-year 4s
Aug'13
98% Feb '13
11II
98
Superior Short L 1st 5s gg 1930
Chic& West Ind gen g 6s..fll932
Dec
94
Sale
100
R I Ark 3c Louis 1st 4MS-1934
Bur C R & N—1st g 5s
1934
C R I F & N W 1st gu5s_1921
M & St L 1st gu g 7s
1927
96% Apr 11
86
J'ly 12
90*4 Aug'12
100
"9934 11II
104
Chic R I & Pac RR 4s.—2002 M-N
Registered
.2002 M-N
"30
76
104
^1934 A-O
1932 J-J
..1914 m-n
Coll trust Series L 4s
P 4s
J'ly""l3
Aug'13
105*4 Feb *13
108
1933 m-n
Refunding gold 4s
20-year debenture 5s
105%
74*2
118
1933 m-n
5s__
107% J'nV'13
84% J'ne'13
Next Page.
101
99% 101%
99% 101%
81% 82
81%
86
75
78
96
98
10178 J'no'12
95% J'ne'13
69%
70
93
Apr '12
98
J'ne'13
93% Aug'13
75%
7638
e Due
May.
*95%
13
99%
68
75%
*98*
*98"
93%
95
g
Interboro
98
101
....
9034
99% Aug'13
81% J'ly '13
82
J'ly '13
75% Aug'13
M-S
g 5s
1952 f-A
coll 4 Hs.1956 a-O
*
98
101
....
j-J
j-J
Havana Elec consol
Interboro-Metrop
Apr '13
93
93%
68% Aug'13
107
J'ly'13
70
Street Railway
let refund
*
'
g
6634
108*8
...
Street Railway
;Brooklyn Rapid Tran
Aug'13
96% Sep '12
9784 May'13
100
93*4 Sale
.1921 A-O
.1921 A-O
5s
Northw Union 1st 7s g
1917 M-S
Winona & St P 1st ext 7s_19l6 J-D
Chicago Rock Isl & Pac 6S.1917 J-J
Registered
1917 J-J
General gold 4s
...1988 J-J
Registered
..1988 J-J
MISCELLANEOUS BONDS—Continued
I
J'ne'13
94
"98* III"
....
Frem Elk & Mo V 1st 6s_.1933 A-O
Man G B & N W 1st 3
Ms 1941 J-J
Milw & S L 1st gu 3 Ms—1941 J-J
Mil L S & West 1st
g 6s..1921 m-s
Ext & imp. s f gold 5s..1929 F-A
Consol
90
,
93
103% Feb '13
9858 96»4 J'ne'13
106
Cons 6s reduced to 3MS--1930 J-D
....
Sale
Sinking fund 6s
.1879-1929 A-O
Registered
1879-1929 A-O
Sinking fund 5s....1879-1929 A-O
Registered i
..1879-1929 A-O
Ashland Div 1st g 6s
1925 m-s
Mich Div 1st gold 6s
1924 J-J
Mil Spar&N W 1st gu4s_1947 m-s
J'ne'12
105
103
1987 M-N
90*4
101
F
..1886-1926 F-A
89**2
103*2 103*2
9534 Mch'13
lOHs
1915 Q
cons 7s
Registered
..1886-1926 F-A
General gold 3Ms
1987 M-N
Registered
_.pl987 Q-F
Debenture
105
May'13
91
1913 J-D
Registered
Sinking fund deb
Registered
100
103*2 Apr '13
105*2 Apr '12
113*2 Feb '1
97
..1920 J-J
1913 J-D
Extended 4Ms
97*|
102*4 J'nel2
"im
98
Wis Vail Div 1st 6s
Mil & No 1st cons 6s
821a
86*2
Apr 13
Aug'13
105
f 6s___1920 J-J
Far & Sou assum g 6s
1924 J-J
La Crosse & D 1st 5s
.1919 J-J
Wis & Minn Div g 5s._.il921 J-J
86*
88*4
100
100
92%
10478 Sale 103*2
A-O
F-A
Registered
ft 198 7
-J
Am Dock & Imp gu 5s___1921
-J
Leh & Hud R gen gu
g 5s_1920 J-J
N Y & Long Br gen g 4s__1941 M-S
4s
86*2
s
General 4s
May'13
8734
8734
105" 109**
101
gu g
95
1st
Chic & Nor West
Extension 4s
114
Cent Vermont 1st
95*4
Jan '12
86
-.
85
M-N
*
107
Oct '12
97
92
*0258
105%
8434
Cent of N J gen'l gold 5s__.1987 J-J
•
96*4 100*2
87
123*8 J'ne'12
(wh issued)..
Dubuque Div
102l2 10684
"14
_el989 J-J
1934 J-J
1932 J-D
92
1105s May'll
Sale"
91%
"90
-J
93*2
.
.
Sale
el 989
Gen 4 Ms (wh iss)
__e 1989 J-J
Chic & L Sup Div g 5s... 1921 J-J
Chic & Mo Riv Div 5s
1926 J-J
Chic & P W 1st g 5s
1921 J-J
C M & Puget Sd 1st
gu 4s.1949 J-J
Dak & Grt Sou gold 5s
.1916 J-J
^
90
Registered
Convertible4Ms
95
Oct '06
1917 J-J
C
Gen'l gold 3Ms Ser B...el989
88
103*8 103*8
22
84%
86*4 Aug 12
94*2
9434
"II
1947 J-J
Registered
25-year deben 4s..
Convertible 4Ms
10534
9278 103%
98
1056s
*94**2 "9*5**2
102
-J
86
107
"19
102% 10334 102*2 Aug'13
95
85%
Aug'12
120
Refunding gold 5s
Refunding 4s Series
88*4
93
64
Registered
Chic & Ind C Ry 1st 5s___1936 j"-'j"
Chic Great West 1st 4s
1959 M-S
Chic Ind & Louisv—Ref 68.1947 J-J
98
8512
*6
103i8 Feb *13
91*4
91*2
Registered
1937 M-N
Pur money 1st coal 5s.1942 F-A
Aug'13
99*2 Aug'13
84%
98
83
'92*
99
107
91i2 Sale
_
Chatt Div pur mon g 4s__1951
Mac & Nor Div 1st g 5s_„1946
l Mid Ga & Atl Div 5s
1947
Mobile Div 1st g 5s
.1946
Cen RR & B of Ga col g 5s_1937
23
J'ly '13
'
Ohio River RR 1st g 5s_
General gold 5s_
6
32
53%
94
921J
9212
99l2 100
64
98*8
84*2
1927 M-N
Joint bonds.
See Great North
Debenture 5s
..1913 M-N
General 4s
1958 M-S
Chic & E 111 ref &
imp 4s g_1955 J-J
1st consol gold 6s
...1934 A-O
General consol 1st 5s.....1937 M-N
"47
...
67
54*2
9934
1019 A-O
1921 M-S
1
24
97%
54
1927 M-N
Registered
Southwestern Div 4s
1956 J-J
1956 J-J
Chic L S & East 1st
4Ms---19C9 J-D
Chic Mil & StP
termlg5s__1914 J-J
Gen'l gold 4s Series A_._el989 J-J
7978
98*8
Sale
63
Sinking fund 4s
-Nebraska Extension 4s
83
'*66
J-J
J-J
J-J
1
■
1919 A-O
86
"*7
88*2 Aug'13
101%
1918 J-J
J-J
"61
87
91%
103*"
70
Mch'13
92
1942 m-s
1934 A-O
BaitRegistered
& Ohio prior 3Ms
'
'
Sp Oca & G
100
1915 M-S
2M01952 „>N
.1934 A-O
4s.
8av F & W 1st gold 6s
1st gold 5s
96i2 Sale
M-S
Ala Mid 1st gu gold 5s
1928 M-N
Bruns& W 1st gu gold 4s_1938 J-J
Charles & Sav 1st gold 7s.1936 ,«l"
u
J-J
,
*96 * "97*"
J-J
Ail Coast L 1st gold 4s...hl952 M-S
,/
Registered
_.rf__/jl952 M-S
v
86
8684 Sale
5
&1995 M;-n
Conv 4s issue of 1909
-
*87" * Sale"
7il995 Nov
Adjustment gold 4s
v
9414 Sale
4s_1095 A-O
71% Aug'13
94*4
9458
92i2 J'ly '13
1949
1949
Ind & Louisv 1st gu 4s
Chic Ind & Sou 50-year 4s
Railroad.
Q-J
1949
...
Div 4s__
No.
98*2
99% Mch'13
79*4 Sale
79*4
80*4
81*2 87
85% Feb 13
88% Oct 12
*9*6*" IIII :01»4 Mch'13
84S4 Jan '13
86
8612 *89*
J'ly 13
83
89
87
Mch'13
95
Oct
82S4
10
Iowa Div sink fund 5s
86
101*2
9778 10I84
9738 101*8
9784
J'ly '13
Registered
Registered
95*8
83*2
asis
Chic B & Q Denver Div 48.1922 F-A
Illinois Div 3 Ms
1949 J-J
Illinois
98
i:i
J-J
Greenbrier Ry 1st gu g 4s_1940 M-N
Chic & Alton RR ref g 3s_il949 A-O
Railicay 1st lien 3Ms_.__1950 J-J
89*2
90
M-S
1989
High
100*2
104%
10938 Nov'l^
M-S
1946
g 4s.
Ask Low
M-N
1989
con
2
c
Last Sale
IOOI2 Sale 100*2
10478
104%
1030 F-A
2d consol gold 4s
8358 00%
82*s 89*4
75*2 83
99i2 102*2
94l2 97*4
96*2 97*2
U00
J 94
f.
92
Week's
Range or
Bid
J-J
M-N
1944 J-D
1945 J-D
1940 J-J
R & A Div 1st
99*8
85
89*2
88*2
Sale
9518
Stat? and City Securities.
4
Convertible 4Ms
Big Sandy 1st 4s
Coal River Ry 1st gu 4a
Craig Valley 1st g 5s_.
99*2 103*8
Aug'13
J'ly *13
89
89% Sale
1
External loan 4^s
1949 F
San Paulo (Brazil) trust 5s_1919 J
Tokyo City loan of 1912 5s
MU S of Mexico s f g 5s of
1899
* New
Price
exchange
Ending Sept. 5.
Chesapeake & Ohio—
Gen funding & impt 5s_..1929
1st consol gold 5s
1939
Registered
1939
General gold 4 Ms
....1992
Registered
1992
95*2 100*4
defaulted bonds.
ana
Friday
Sept. 5
stock
Potts Creek Br 1st 4s
96
t 96
J 90^2
_
..1954
9534 101*8
595*2 101*4
1 10134 103*
102%
102% Sale 10212
10212
110% 112
110*4 Aug'13
111
110% 112
Aug *13
Oft
*
95*2 J'ly '13
99
100" 100 Aug'13
y.
Week
10
102
n.
3
100
11918
Gold 4s of 1904..
BONDS
Range
98
[U S 4s registered
,
Since
Last Sale
98
iU 8 3s registered
U S 3s coupon
•
Week's
Range or
dl930
S 2s consol
coupon
0
changed, and prices are now all—"and interest"—except for income
Friday
Sept. 5
STOCK
EXCHANGE
Week Ending Sept. 5.
i
was
98
71
81%
Due June,
Manhat Ry
Stamped
Bway & 7th Av 1st c
90*2
90%
Sale 105
95
50
64
102
100
5s_1943
Col & 9th Av 1st gu g 5S..1993
Lex Av & P F 1st gu g 5S.1993
99
g
98*2
May'12
62% Jan '13
59% Mch 12
99
98%
99%
Cent Tr Co ctfs
stamped..
Third Ave Ry 1st g 5s
74
104
1937
* Due Aug.
0 Due Oct.
Nov'12
104
Aug'13
93%J'ly 06
84
....102% 101
J'ne'13
91
Apr '13
102
Refunding & exten 4Hs._1931
Minneap St 1st cOns g 5s—1919
h Due July.
...
Aug'13
J'ly 13
97% May'13
74
J'ly '12
74% J'ly '12
Third Av RR cons gu 4s__2000
Central Trust Co certifs—
Met W S El (Chic) 1st g 4S.1938
Milw Elec Ry & Li cons g 5sl926
Nov'12
....
v
53
Aug'13
88% J'ly '13
,
101
105
90
92
Due Nov.
g
Due Dec.
#
Option
SEPT. 6
N.
T.
New York Bond
1913.]
BONDS
STOCK
EXCHANGE
Week Ending Sept.
Price
6.
Week's
Friday
Ratio* or
Sept. 5.
8k
Last Salt
Bid
Cin HAD 2d gold 4
1st 8c refunding 4s
1037
1959
1st guaranteed 4s
1959
Cin D & I 1st gu g 5s
1941
C Find & Ft W 1st gu 4s g_1923
Cin 1 & W 1st gu g 4s
1953
Day & Mich 1st cons4 J^s_1931
Ind Dec & W 1st g 5s____1935
1st guar gold 5s
1935
Cleve Cin C & St L gen 4s._1993
20-yr deb 4J^s
:
1931
Cairo Div lstgold4s__
1939
Cin W & M Div 1st g 4s__1991
St L Divlst coll tr g 4s
1990
Registered
;
1090
Spr & Col Div lstg4s____1940
W W Val Div lst g 4s
1940
11936
1st g 5s
con
1923
♦95
80
W 1st pref 4s
O Ind & W 1st pref 5s
A
Peo & East 1st
Income 4s
80
J-J
J-J
100
J-D
J-J
ext guar 4s £
E Minn Nor Div 1st g
"86*4
Minn Union 1st g 6s
Mont C 1st gu g 6s
Mch'll
86*4 Feb '13
86*4
87l2
9238
Mch'13
90
90
8914
8914
87
01
79
85
81%
84i4
M-N
....
90
89U Feb '13
90
J'ne'13
Oct
91
M-N
*80
M-S
"85"
92
'07
103
Aug'13
101% J'ne'13
120
I llinois Central 1st
1
do" "90"
103
82
Registered.
120
120
Del Morris &Western—
el Lack A
Essex lst7s_1914
M-N
92l4
F-A
..1921
1st A ref 4s
Alb A Sus conv 3 Ms.
Rens A Saratoga 1st 7s
Guaranteed
1940
Rio Gr West 1st g 4s"
1939
Mtge A col trust 4s A...1940
Utah Cent 1st gu g 4s.al917
Des Moi Un Ry 1st g 5s
Det A Mack 1st lien g 4s
Registered
Sale
109
HI! "86""
101
02% 941j
85i2 Sale
113
....
83
J-J
84
"9*0""
73
F-A
74
7712
gold 5s
3d ext gold 4^s
4th ext gold 5s_
5th ext gold 4s
1923 M-S
1920 A-O
..1928 J-D
N Y L E & W 1st g fd 7s..1920 M-S
con g 4s prior.^..1996 J-J
Erie 1st
Registered
;
Penn coil tr g 4s
1996 J-J
1996 J-J
1951 F-A
eQf-year conv 4s A
..1953
do
Series B
1953
Buff N Y A Erie 1st 7s_i.l916
Chic A Erie 1st gold 5s... 1982
.Clev A Mahon Val g 5s..1938
Long Dock cpnsol
Coal A RR 1st
A-O
A-O
J-D
M-N
J-J
1935 A-O
6s..1922 M-N
g 6s
cur gu
Dock & Imp 1st ext 5s
1943 J-J
N Y & Green L gu g 5s
1946 M-N
N Y Sus A W 1st ref 5s...1937 J-J
2d gold 4 Ks
General gold 5s_
Terminal 1st gold 5s
Mid of N J 1st ext 5s.
Wilk A Ea 1st gu g 5s
Ev 8c Ind 1st con
Evans A T II lst
gu g
cons
103
104
Gold 3 Hs
Mch'12
100
101
90
94
10-71", il()58
"98
101%
94
94%
931,
99i8
85%
85»2
83
88*4
12H* May'12
"s"d% "8912
82% Aug'13
J'ly '13
89% Aug'13
7314 Aug'13
90
s5
9578
85
99
67
84U
,
Dec *12
01*2 Apr '11
Mch'08
J'ne'13
82
82
T
95*4 Aug *13
104% Mch'13
95*4 99*8
IO414 10414
100
100
Mar'13
103*8 Feb '13
111
100
1038, 1038g
Aug'12
111
10914 115
101% J'ne'll
ids"
Feb'13
100
103
Aug'13
~
103
1031*
Jan '12
86*8
109" 109*
86*«
82
87
Aug'13
84
84
667,
76
75*4
Apr '12
871* Aug '13
73i2
73*8
77
9912
....
90
81
110
93*4
96
.-.-108
6s__.1926 J-J
6s_.^1921 J-J ♦1031s
....
7058
105l2
"85~% "90
66
82U
65
7U8
771s
105"!,
105i2
J'ne'13
106
Ill
"
May'12
122
Dec '12
122" " 124" "
102
ldd's 102"
Aug'13
1031* Aug 12
96
J'ly '13
oo'idfi,
IOOI4 Dec '06
81
Aug'13
107*8 Feb '13
81
"93 " "99
May'12
105
" "87
107*, 108
1111, May'12
93
Aug'13
106
Aug'13
A-O
101i2 100
108
95
J'ne'12
95U
92
95i2
Aug 10
72
Mar'13
110
Nov'll
A-O
105"
Aug'13
A-O
97%
J-D
J-J
65
"70
987, ion,
92
96*4
"72"" ~76~%
f^reat Northern—
VJ C B 8c
Q coll trust 4s
1921 J-J
Registered h
1921
lst A refunding 4 ^sser A 1961
Registered
1961
8t Paul M 8c Man 4s
..1933 y-v
M
.
1st consol gold 6s
..1933 j-j
1933 j-j
Registered.,
Reduced to gold 4 Hs-1933 j-J
Registered
..1933 j-J
...
948, sale
954
96%
97l2
99U
....
961,
94U
116
119
115
9412
9484
94l4 Aug'13
97*4
96
93
«
96i4
927,
97*4
97
J'ne'13
96
96
93i2 J'ne'13
1005$
96
9312 98%
118
12412
11712 11914
99*4 1041,
124
118
118
1171, Aug'13
102*4 104*4 101*4
101*4
108*4 J'n«'09
S & N Ala
con gu g
5s
& ref conv
s
f 5s
Street
f 1 £os
83%
74% Sale
A-O
56
M-N
....
Sale
....101
1942 F-A
Portland Gen Elec 1st 5s_1935
L' H & P lst
St Paul City Cab cons
tThIrd Ave 1st ref 4s
95%
5s_l937 J-J
i960 J-J
O1960 A-O
LAdi inc 5s
LTri-City Ry & Lt lst s f 5s. 1923 A-O
[Underground of London—
I 4^8
....1933 j.j
*
Income 6s
.....1948
Union Elev (Chic) lst
g 5s_1945 A-O
United Rys Inv lst lien coli
85*4
72%
79
122
517,
60%
101
Jan '13
101
101
95
Mch'13
95
90
1031, Feb '13
80% Sale
80%
80%
74
74*4
74% Sale
95% 95%
95%
140
5
92% J'ne'13
88*4 Aug'13
95%
mmmrn
103% 103%
86
mm mm*
84
71
Det Gas Co.
71
0
Due Feb.
"85"'2
Oct '09
~92i* AuV'12
"98 ' J'ly" 08
95'2
92
ioi" 105"
May'13
103i8 Aug'13
"
93 78
91
72'2
70
May'13
Aug'13
63
Oct '00
1946 F-A
M-S
M-S
84
Mch'12
107
Mch'13
96% Mch'12
~88~
I""
88
93*4100"
....
84*4
90
90"
Aug'13
96% Nov'12
99% Oct '06
97
93
84
Aug'13
104% Dec 'OS
89% Aug'13
Jan '11
95
"98*4 "III
110
j
Nov '06
103
Jan '13
104
99U 104
8612 9414 87
Apr '13
Aug'13
98*2
111U Sale 111%
111
105i2
93*8 Sale
93%
111%
Mch'13
93*4
"
103
105
Augf13
J'ne'13
IO6I4 109*4 105
98
104*4 May'12
120% Mch'13
113U
108
....
105%
IIII
114% Feb '13
91
62
88
J'ne'13
105% Mch'13
J'ly '13
69% Sep 12
887s
8878
109
112
103%
66
89
ill
Jan '13
106
....
101
Apr'11
85
89
88% J'ne'13
97% 103% 103% Feb '13
82.
83% 83% Aug'13
95
Q- J
IIII
J-J
100%
97%
F-A
83%
Feb'05
100% Aug'13
101% Jan '13
110% Oct *12
109%J'ly '12
91% Men'12
107% 110
95*4
93%
1932 J-J
...1923 J-J
5s
1918 F-A
con lst g
Det Edison lst coil tr 5s.._1933 J-J
Eq G L N Y lst con g 5s
1932 M-S
Gas 8c Elec Berg Co c g 5s
1949 J-D
83
Kan
"88%
57%
731, Mch'13
69
Aug'13
57
57%
95
95
70
May'13
1001,
103
103% 103
54
65
h Due July,
t Due Aug.
103
J'ne'13
90
987s
100%
98*4
98*4
96% Sep 08
Aug'13
106% Oct 12
100
...
107
97
Feb '13
...
100
101
100
Oct *09
100% 102% 101
J'ly '13
Aug'13
City (Mo)'Gas lgt g 5s 1922 A-O
d Due April,
40
96% Sep '12
101
J-D
M-S
J -J
M-S
j -J
1936 F-A
.1945 M-S
10
103
995s
1015s 107
11
J'ne'12
93
•
loo* IIII 101"% Feb"
M-N
F-A
94
98
98'2 Sale
98*2
93
9158 93
Aug'13
101 s8 1025s 102*8 Aug'13
99
104
100
Aug'13
100's 10414 J'ne'12
102
*102'2
Aug'13
98
100'4 104ig May'12
93U
93i2 Aug'13
106
.J*. 111
May'13
111*8 Deo *11
102", II
105i2 Mch'13
M-S
Gr Rap G L Co lst g 5s....1915 F-A
Hudson Co Gas lst g 5s
1949 M-N
J'ne'13
"81^ II
Feb '11
90
70
Atlanta G L Co. lst g 5s
1947 J-D
Bklyn U Gas lst con g 5s__1945 M-N
Buffalo Gas lst g 5s
1947 A-O
7678
Oct *08
Due Jan.
114
Railway
99%
82%
#
a
94i, J'ly '12
10214 Aug'13
i03'2 II"
United Rys St L lst g 4a...1034 J-J
69
St Louis Transit gu 5s
..1924 A-O
United RRs San Fr s f 4s..1927 A-O 4 55
Va Ry & Pow lst & ref 5s._1934 J-J
63%
87
13
May" "16
Next Page.
95
92%
11712
90
A-O
J-J
Columbus Gas lst g 5s
Detroit Oity Gas g 5s
77%
"94" Feb"
95
11II
Gas and Electric Light
"98" Nov" 08
No price Friday; latest bid and asked this
week,
85
26
IIII 105"
M-N
•
85*4 Feb '13
74%
74%
55%
56
T-J
8 5s 1937 M-N
g
on
1051*
A-G
1920
1921
2d gold 3s
1980
Atl Knox & Cin Div 4s...1955
,Atl Knox & Nor 1st g 5s
1946
Hender Bdge 1st s f g 6s._1931
Kentucky Cent gold 4?
1987
L & N&M & M 1stg4Hs 1945
L & N-South M joint 4s
1952
Registered
___fcl952
N Fla 8c S 1st gu g 5s
1937
N 8c C Bdge gen gug 4^8 1945
Perus& Atl lstgu g 6s....1921
Street Railway
J-J
86
....
1959 J-D
Lehigh Vail (Pa)1 cons g 4s_2903 M-N
Leh V Ter Ry lstgu g 5s
^1941 A-O
Registered
1941 A-O
Leh Val Coal Co 1st gu g 58.1933 J-J
Registered
1933 j-j
1st int reduced to 4s__!
1933 J-J
Leh & N Y 1st guar g 4s
1945 M-S
Registered
1945 M-S
El O & N 1st pref 6s
1914 A-O
Gold guar 5s_
^__1914 A-O
Long Isld 1st cons gold 5s_ftl931 Q-J
1st consol gold 4s
/jl931 Q-J
General gold 4s...
__1938 J-D
Ferry gold 4>$s
1922 m-S
Gold 4s____
..1932.J-D
Unified gold 4s
1949 m-S
Debenture gold 5s_.
1934 j-D
Guar ref gold 4a__,
1949 m-S
Registered
1949 M-S
NY3&MB 1st con g 5s_1935 A-O
N Y & R B 1st g 5s
1927 M-S
Nor 8h B 1st con g gu 5s_ol932 Q-J
Louisiana & Ark 1st g 5s
1927 m-S
Louisville & Nashville-—
General gold 6s
,..1930 J-D
Gold 5s
____1037 M-N
Unified gold 4s
1940 J-J
Registered
1940 J-J
Collateral trust gold 5s
1931 M N
E H & Nash 1st g 6s_^
1919 J -D
LCin& Lex gold 4^8
1931 M-N
NOiM 1st gold 6s
i.1930 J-J
N O& M 2d gold 6s
1930 J-J
Paducah& Mem div 4s
Pensacola Div gold 6s
St Louis Div 1st gold 6s
Nov'00
Aug'13
-L*
2d gold 5s_.
....1941 J-J
North Ohio 1st gu g 5s.
1945 A-O
Leh Vail N Y 1st gu g 4 Ks_1940 J-J
Registered
1940 J-J
MISCELLANEOUS BONDS—Continued
J-J
100
57
Apr 1950
City Term 1st 4s_
I960 J-J
Erie & W 1st g 5s
1937 J-J
L& Jeff Bdge Co gug 4s
New Orl Ry 8c Lt gen 4
V$s.l935
N Y Rys 1st R E & ref 4s 1942
30-vear adj inc 5s
al942
Portland Ry 1st A; ref 5s
1930
Portland Ry Lt & Pow 1st
101's Oct '99
57
—
Apr '12
109
ake
~77h
~77'2
53
•
75l2
110
77
94
Kansas
82
...
94
Ref A impt 5s
88
103
....
8914
Kan City Sou 1st gold 3s..1950
Registered.
1950
84
76
10U2 109
.1951 F-A
Jamestown Franklin &
Clearfield 1st 4s
Sep '04
84
.721* 73i2
7034 Sale
1021J 10514
104
108i2
1001s 109i2
♦
124i8
107l2
10078 10178
J-J
J-J
1951 . „
1951 F-A
Bellev A Car 1st 6s
I923 J-D
Carb 8c Shaw 1st g 4s
..I932 M-S
Chic St L& N O g 5s
1951 J-D
Registered
1951 J -D
Gold 3^s
1»51 J-D
Registered
1951 J -D
Memph Divlstg4s_
1951 J-D
Registered
1951 J-D
SfcL Sou 1st gu g 4s__
1931 M-S
Ind 111 & la 1st g 4s
1950 j-j
lnt & Great Nor 1st g 6s
1919 M-N
Iowa Central 1st gold 5s
1938 J-D
Refunding gold 4s
1951 m-S
J'ne'13
109
"871* "gd" "
70'2
J-J
1951 J-J
1951 J-J
Registered
97
84
74%
99
F-A
J951
3 Hs
Western lines 1st g 4s
97
....
...
g
Registered
1021, 106l8
99*4 Oct '12
Mch'13
102*4 103
86" "86*s
1940 A-O
J-J
Spring Div 1st
lll*g
84
F-A
Aug'13
75l8 Nov'12
81
May'13
83
Aug'12
123
May "99
70
J'ly '13
751, Mch'12
84
...1951 J-J
Registered
108
75'8
J-J
1955
5s__.__._1921
1951
1951
Registered
10512
95*4
110
101- III!
.1943 M-N
1942 J-D
1950 J-D
3s_._1951 J-J
Omaha Div 1st g 3s
St Louis Div A term g 3s.
IOH4 103%
93
91
1953 J-J
Middle Div reg
May'10
106% Mch'08
104
Feb'11
100
1st general gold 5s_.
1942
Mt Vernon 1st gold 6s...1923
Bull Co Branch 1st g 5s
1930
T?lorida E Coast 1st 4 J^s_.1959
•P ort St U D Co 1st
g 4^8-1841
Ft W 8c Rio Gr 1st g 4s
.1928
Litchfield Div 1st g
Louisv Div A Term g 3Hs
102
84
1937 F-A
.1940 F-A
-
9412
90U
106
110
1996 J-J
Registered
94*4 Jan '11
947, J'ly 12
81
..1919 M-S
1st consol gen lien g 4s
94
92i2
92
85%
116
97
84
78
111
'80 ' J'ly" 09
M-S
1951 M-S
1952 A-O
1952 A-O
92
79*4
....
88'2 Feb 13
93'2 May'09
A-O
97
Apr '13
98i2
101*4
Sep'11
887„ Feb '13
M-N
Aug! 13
g5s
1937 J-J
TAlgin Jol A East 1st g 5s..1941 M-N
*-*rie 1st consol gold 7s
1920 M-S
N Y & Erie 1st ext g 4sl_.1947 M-N
Mar'13
100
I953 M-N
Jan '08
9612
100
1953
97
96
..
..
Registered
Cairo Bridge gold 4s
78
foo'ij mi
Apr '13
92'g Apr '13]
98'2 IOOI4 Deo '12
L N O & Tex gold 4s
80
.
10
92
Purchased lines 3
..
...
"98l2
96'2 1001, Sep '08
26l2
9478
..
82
83
36%
79
84
....
49*4
70
1937 A-O
1951
J'ly'IS
97*4
35
A-O
1917 M-N
1995 J-D
A-O
"99" I";:
26
J-J
J-J
J-J
A-O
J-J
J-J
J'ly 13
J'ly'13
J'ly'13
99*4
85
90
90
J-J
93'2 May'13
95*4 Sep '12
90i2
93
79
J'ly '13
99*4
109
J-D
82i2
10412 J'ne'13
1955 M-N
I952 J-J
90
J-J
J-D
105'2 May'13
....
1st ref 4s
102% Feb 03
io77a:::: 107*4 Aug'13
149
Aug'01
96"% Sale 9678
9678
97
104
i0"3"'8 I III
89
Ill's,Dec '10
90
119
79
IO8I2 108*4 1085, Aug'13
102*4
102i2 J'ly '13
94
941s
Aug'13
M-N
SoShore&At
ext
91*4
106
928, Mch'll
97
Sep '12
114U Sep '12
120'e J'ly '13
136'4 May'06
93
~81U
IOU4 J'ly '13
104
J'iy'13
1027#
..1937 A-O
1916 J-J
6s___.
92
100
J-J
Det Riv Tun-Ter Tun 4 Ms.1961 M-N
Dul Missabe A Nor gen 5s_1941 J-J
Dui A Iron Range 1st 5s
~92h
101
1995 J-D
4s-
26
J-J
...1917 M-S
1916 J-D
1922 J-J
...1943 M-N
1946 A-O
1921
Denv A R Gr 1st con g 4s..1936
Consol gold 4Hs
1936
Improvement gold 5s
1928
lst& refunding 5s'
1955
Rio Gr June 1st gu g 5s
19391
Rio Gr So 1st gold 4s
1940
1951
J'ne'll
"88
87
No.
Aug'13
98
1951 A-O
Registered
Construction 5s
____1923 F-A
Term & Improve 4s
1923 M-N
Warren 1st ref gu g 3 Hs—2000 F-A
Del A Hud 1st Pa Div 7s___1917 M-S
Registered
10-yr conv deb 4s
1st lien equip g 4}$s
iis
92
108
83
Coll trust gold 4s
A-O
2000 J-D
lstrefgug3H»
26
23
1915 J-D
1915 J-D
N Y Lack A W 1st 6s
35
28
J-J
92
Registered
81%
J-J
J-J
J-J
J-D
J-J
oqe5
High
95*4
91
Registered
1st gold 3s sterling
Registered
" J'ly"'08
35
1990 Apr
1st consoi guar 7s
Registered
Extended 1st g 3
J-J
J-J
51
Sals
93i2
93
J-J
1951 J-J
..1951 J-J
J-J
1st gold 3 Hs
103
A-O
4s_1951
Registered
"81% "831*2
1940 A-O
con 4s
gold
11012 110l2
Mch'13
94
105*4
J-D
J-D
J-J
I955 F-A
1937 J-J
Col A Tol 1st ext 4s
HousBeltA Term 1st 5s
i<k%
Mch'13
100
S3
90
1937
1937
.1940
4s 1948
1922
1937
1937
1937
1937
Will 8c 8 F 1st gold 5s.—1938
Gulf A S 11st ref & tg5s..&1952
Registered
&1952
TTock Val 1st cons g 4J^s
1999
11
Registered
1999
Col A HV 1st ext g 4s
..1948
"81 " "81 "
81
Aug'13
91
Apr '12
104% Mch'13
97i2 NOV '12
10478
91i8
91*8
100*4
Last
Ask Low
Bid
Registered
1st guar gold 5s
Registered
Dec *12
103
92%
87*4
85*4
105
-
Pacific
100*8
"9814
9814 Mch'13
89
J-J
J-D
2d
"§6% J'nV'12
88
gold 4s
Range or
Friday
Sept. 5.
St P M 8c M (Continued)—
Registered
107i2 Dec '02
89
Aug'13
89% 881* Aug'13
J-J
M-N
2d
High
Mont ext 1st
IIII "89
1947
deposit
Colorado & Sou 1st g 4s
1929
Refund & ext4Hs
1935
Ft W & Den C 1st g 6s
1921
Conn A Pas Rivs 1st g 4s__1943
Cuba RR 1st 50-yr 5s g -.1952
Du
Low
J-J
1940 A-O
dl938 Q-J
Col Mid and 1st g 4s
Trust Co. certfs. of
Gold
No.
..1934 J-J
Registered
__
...
...
J-J
C C C & 1 consol 7s
1914 J-D
Consol sinking fund 7s__1914 J-D
General consol gold 6s__1934 J-J
Ind B
87
....
M -N
M-N
/cl936 Q-F
Registered
High
EXCHANGE
STOCK
Week Ending Sept. 5.
101% 100*4 Oct *12
91%
J-J
J-J
J-J
.1920 M-N
C I St LA C consol 6s
1st gold 4s
Cin S & Cl
J-J
Ask Low
Y.
N.
Sines
Jan. 1
Week'.
Price
BONDS
Range
si
653
Record—Continued—Page 2
0 Due Oct.
94
s
Option sale.
10
654
-T.
,
f?
New York Bond
BONDS
STOCK EXCHANGE1
Frl*
Fangs sr
Last Ms
Internet 1st
if<rm
Mississippi Central 1st 5S..1949
02*4
91% 92
76
79%
98% Sale
v
70
Mo K & E 1st
'
N Q Mob A Ohic 1st ref 5s_19G0
NO&NB prior lien g 6s__pl915
New Orleans Term 1st 4s_.1953
N Y Central &HRgS Hs.1997
102
100
106
81%
81%
"78" "82%
"80% *83
80% Oct '12
81% Aug'13
96
Jan '13
"77"% *83%
li3
1121s
82ia
100
117%
112% 112*4
80
857S
107%109
.
89" " J'ly" 13
87
Aug'13
105U 1061a 106
111
Jan '18
1076a.
102*4104i2 105% Jan '13
*89*" "89*
....
105
108%
111
111
105% 105%
J'ly '04
62
62
77
Feb '13
967* Feb *13
65
Aug *13
113
102*i4
66
79
75
"59la III!
5a
J-J
96
114
107% J'ne'13
....
94
96
114
Apr '13
112% Jan '13
83
Aug'13
1061a 111
76%
45
*79% May'13
"83ia *8412
J-J
82
87
91%
~80~% "82
80%
82
87%
May'12
93
12
7^
80
89
81
"Aug'18
76*4
77
J ly '13
75
IIII
98
77% May'13
Apr '13
98
79i2
....
__.__i.1998 F-A1
"00"
g 4s..1936 J-J
...1936 J-J
♦106
...1936 J-J
80%
79
78
May'll
99
....
1981 J-D
.
mmm
R W A O con 1st ext 5s—hl922
Oswe & R 2d gu g 5s—_.el915
'RW&O.TB 1st
gug
g 4Hs
OgA LCham lstgu 4s
;
iOO"
16712 107
Aug'13
U
...
104
...
90
76
92
J ne'«9
100
80
"
108
108
"00 " III
861a
78
Sep '12,
119% Moh'll
997g Nev'll
87
.J 15%
92
84%
99%
89%
Allg'13
84% Mar 13
93ia
91%
92
88%
~92~" salH
91% sale
"
63
'
„
103%
106
94
104% 105% 104
Apr'13
104
104%
104%
104% 105% 105
105%
85
86% 85 J'ly '13
100%
105*4 J an '13
85%
84% J'ly '13
94% Sale 94%
94%
91% J'ly '13
*6*7"" IIII 66%
67%
65
67
65
Aug'13
95
90
Apr *13
100% 100% Aug'13
108% Aug'13
109% 112
115% A tig '11
conv
4s.....1932
Pocah C & C Joint 4s
1941
O OA T 1st guar gold 5s..1922
Scio V A N E 1st gu g 4s..1939
Northern Pacific prior 1 g 4s 1997
Registered
1997
«2047
Registered
a2847
St Paul-Duluth Div g 4s. 1996
Dul Short L 1st gu 5s
1916
St PA N P gen gold 6s
1923
Registered certificates.. 1923
St Paul & D Juth 1st 5s
1931
2d 5s_'_
.....1917
1st consol gold 4s
1968
Wash Cent 1st gold 4s
4948
Nor Pac Term Co 1st g 6s
1933
Oregon-Wash 1st A ref 4s..1961
pacific Coast Co 1st
a
g
1
Jau '11
98
89%
89%
"B
""2
31
25
"9
....
foo" III
107
Jau '12
101
93
J'ne'13
J'ne'12
94
91% Apr '11
110%.... 110% Apr *13
90
90% Sale
90*4
100
5s..1946
99
14
Aug'13
ennsyhrania RR—•
.1923 M-N
........1919 M-S
1943 M-N
Convertible gold 3J4s_..ol915 J-D
Registered
o!915 J-D
Consol gold 4s
1948 M-N
1st real est g 4s
Consol gold 5s
Consol gold 4s
96
—
100% Aug'13
...
.107
99%
"99% loo"
--
^
99*4
100
99% Feb '13
100%
87*4
1st g 4s
99*4 Aug '13
96*4
96%
96% J'ne'13
96*4 bale
96
100
100
..
5s.—1924 J - J
SunburyA Lewis Istg4s.l936 J-J
U N J RR A Can gen 48—1044 M-S
Sep '12
Jan '03
102
♦90
65
"20
99% J'ly '13
90
Sod Bay A Sou 1st g
Mch'12
110
....
.....
93
....
iu"i% Ma'y'12
—
—
.
...
Oct 12
....
100%:
101%
100%..
111
J'ne '06
Jersey Cent oofi g 4s
Atlan <Xty gu 4s g
86*14
94%
95
93%...
*
J'ne*08
88%
82%
88%
aa
en
93%
97%
83%
99%
97%
,89
95
Sale
95
95
93
98%
92
Sale
02
92
99
97%:
89
i00%
J'ly 'II
'm
as m m
92
~
General gold 6s.........1131 J-J
General gold 5s
1931 J-J
St LA S FAR peas g 48.-1996 J-J
Gen li-20-yr 5s
..._.1»27 M-N
Tr Co c«rtfSt of deposit—. . -—_
SouUtw Div let g 5s
1947 A-O
..1951 J-J
...1951 J-J
Refunding g 48.
Registered
108
men
immm
•
»-
~80 " AuafT.3
83
108
108
..
98%
15
m m m
1947 J -J
O t Louts A San Francisco—
12% Aug'13
_'18
85% Aug
94%
f
94%
97% —4 '131
Jap
87
*
Aug'13
82%
86
19»1 A-O
1951 J - J
v^t Jo A Or Isl 1st g 4s
Apr '12
98% Nev'll
98
90
108
*04%
Jam "T2
119
104
J—J
—
_
65" Aug'13
Apr '13
113% NovTl
04*4
Sale 94%
92
J'ly '13
94
95
Jly'13
1111*68"
PWLq?J»bio R^lstSO-yr a f4s/37j J
Apr '12'
I 130% Jan '09
123% Mch'isl
v
lgt 4s guar—2361 J-J
Registered
—.....2861 J-J
N Y Cent Lines eq tr 4 M s 1922 J-J
94
...
10-23-year
_
111% Moh'll
\
> West Shore
13
115% J'ne'13
Pennsylvania Co—
Guar 1st g 4Hs
101%
J-J
87
..1921 - . ♦100%101% 101%
102*4 May'13
86%
Registered,
1921 J-J
Guar 3Hs Coll trust
84%
83% J'ly '13
91%
reg,..1937IM-S
Guar 3, s coll trust ser B.1®*1 F-A
83*4 ...J 85% J'ne'13
97
J'ne'13
96%
Trust C • ctfs gu g 3Ms
"83 "
1916 M-N
GuarS
82%
84% J'ly *13
80%
strustctfsO....1942 J-D
Guar 3. ,8 trustctfsD—
80
83%...
82% J'ly '13
1944 J-D
95
95
Guar li 2,5-year g 4s_—..1931 A-O
Aug'13
77%
CinLebA Nor gu 4sg._..1942 M-N , 86% ...
92% Feb T3
98
110
Jan '05
Ol A Mar 1st gu g 4 J4s.*.l935 M-N'
1*0*0"* III- 102 J'ly *13
CI A P gen gu g 4
ser A1942 J - J
100
Series B
1942 .A-O
109% J'ly '09
Int roduced to 3Ua
91% Feb '12
1942 A-O
85
Series O 3Hs
00% Oct *12
1948 M-N
90
85
May'08
Series D 3 Hs
i..l!50 F-A
Erie A Pitts gug 3j*sB..1940 J-J
85%
80% J'ly '13
98%
Series
J-J
85%
90% J'ly '12
95
Gr R A I ex 1st gu g
101% Feb '13
4)48.1941 J-J
109
PittsY A Ash 1st cons 5S.1927 M-N; 100
May TO
Tol W V A O gu4)^s A...1931 J-J
95%...
102% J'ne'12
98
Series B 4Hs—........1933 J-J
102% Nov*12
107
Series 0,4s
92
1942 M-S
92% "95% 95 J'ly '13
101
M-cU'13
POO A StLgu 4Hs A
1940 A-O 100 104
Series B guar..
99*4 Aug'13
99% 102
...1942 A-O
106
J'ne*11
Series Q guar
100%.
.1942 M-N
Series D 4s guar.......1945 M-N
91% "97% 92% J'ne'13
98%
88
90
Series E 3)£s guar g—1949 F-A
Apr'13
Series F gu 4s g
"99
90%
95% Jan '13
.....1953 J-D
90%.... 97% Jan 13
84
Series G Is guar..
-.1987 M-N
106
J'ne'13
O St LA P 1st cen g 5s.—1982 A-O 104
106
Feb '13
Peo A Pek Un 1st g 6s
.1921 Q-F
2d gold 4Hs—....
61921 M-N IIII "95" 93% Jan 11
54
Jau '13
PereMarquette—Ref 4s
1955 J-J
45
"45"" Sale 45
Refunding guar 4s.......1955 J-J
88%
98
Oct '12
Ch & W M 5s
.1921 J-l
88
Flint & P M g 6s.
..1920 A-O 100% 104* 100% Apr '13
93%l
90
Feb '13
90
1st consol gold 53.____.1839 M-N
92%
j
Pt Huron Div 1st g 5s..1939 A-O
90% .i... 90% Aug '13
Sag Tus A H 1st gu g 4s_.193l F-A
^ 105
„
112%I
2-"!?
—..104Q
Registered.
—1940 J-J
JL&S 1st gold 3 Hs—.1951 M-Sj,
1st gold 3Ms—...
1952 M-N
(V 20-year debenture 4s... 1929 A-O
N Y Chic A StL ls'tg 4s
1937 A-O
Registered
........1937 A-O]
Debenture 4s...
.—1931 M-N
H(J%
"5
2d guaranteed 6s_......1984' J-J
McKees 3c B V 1st g 6s—1918 J-J
Michigan Central 5s
.1931 M-S
..Registered..—...
1931
4s
94
.
"od"
'
i
119
115
Mch'13
'
98%
Apr '13
Aug'18
78
v
■{,
Jan
,
102
J'ne TO
82
A^l
02
102
Jly'13
105ia| 98% Aug'13
....
100
Rut-Canad 1st gu g 4s._1949 J-J
StLawrA Adirlstg5s...l996<
2d gold 6s.
199«
Utica A BJk Riv gu g 4S..1922 J-J
{Lake Shore gold 3}$s_.__1097 J-D
v
Registered
_ia97 J-D
Debenture gold 4s_.
.1928 M-S
25-yr gofd 4s
..1981 M-Nf
Registered.—.
—1931 M-N
Ka A A G R lstgu c5s—1938 J-J
;
Mahon O'l RR 1st 5s...1934. J-J
, Pitts & L Erie 2d g 5s
«1928 A-Oi
\ Pitts McK & Y lstgu 6S..1932 J-J
1106%
i31%Jai"09
....
1
1
Apr '13
123
...
" Feb"13
1121a
103ia 107
1948 J-J
.
98%
"87% Deo"l2
92
M-N^
1941 J-J
g
118
...
....
5S..1918
) Rutland 1st con
—1
Oct '02
| 105
.
1
100
....
...
"98% Jan'Is
mmm^
r83 " III
g 3)$s
Registered
i
...
...
....
+
90ia
1986 F-A
2000 M-N
—..2000 M-N
vN Y & Northern 1st g 5S—1927 A-O
N Y & Pu 1st cons gug 4s. 1993 A-O
yNor& Mont lstgu g 5s
.1916 A-O
vPine Creek reg guar Gs
1932 J-D
Registered
N Y& Ifarlem
;
"it Oot"l2
"75" III
101
Gouv& Oswe 1st gug5s.. 1942 J-D
\ Moh A Mai 1st gu g 4s...1991
lfM-S
IN J June R guar 1st 4s
1986 F-A
■;
100
113%
115%
...
,
Cart A Ad 1st gu g 4s
89% Feb '12
96% J'ly '13
96
"79% "«7%
19
84%
82
Aug'18
89%
91
83%
85
90
02% J'ne'12
93
"90% in:
96%
75
83% Feb *13
Aug'13
85
78
1001a 102
A-O
J-J
*99% Mch""l2
" "88%
70%
96%
Aug'13
50
55
62
88*4
78
...
90
93%
101*4 103
Feb'13
Aug'09
....
5s..1918
General lien gold 3s
"si* '81%
Registered..
\: 2d guar gold 5s
•
Registered
;
1936 J-J
vBeech Cr Ext 1st g 3Hs-61951 A-O
I
Mch'05
90% Mch'13
88
107
87*4
10-29-year conv 4s_... 1932
Oonvertibie4Hs (wh.is.)l»38
92
90% Aug'13
101% J'ne *13
102
102
104
Oct '12
104
4^s'46
110
...
Div'i 1st 1& gen g 4s....1944
"91 " "99%
70
622
90% J'ne'12
83
....
103
Registered 55,000,onlyJ.pl992
General 4s
...1965
Norfolk Sou lst& ref A 5s..1961
NorfA Sou 1st gold 5s...
1941
Norf & West gen gold 6s...1931
Improvement & extg 6s..1934
New River 1st gold 6s.._. 1932
N & W Ry 1st cons g 4s
1906
Registered.
^_._...T996
106%
05% 100
90
Aug'13
112%
106%
99% Nov T'2
111%
106% Sale 106%
.
103
Dec '12
110
1993 F-A
Registered.
1993 F-A
Mich Cent coll gold 3Hs_1998 F-AJ
Registered
101% 101%
91
81
....
96
1934 M-N?
Beech Creek 1st gu
103
*77% "88"
Lake Shore coll g 3Hs
*
l
96
Aug'13
91
76
..1997 J-J
1934 M-m
Registered,
104%
101%
96% May'll
81%
81%
89
1st extension gold 6s_
7il927 Q-J
General gold 4s.
....1938 M-S
Montgom Div 1st g 5s
.1947 F-A
Registered
I Debenture gold 4s__
108
cons cy
Apr'13
73
Sale
Providence Secur deb4s._1957
N YOJt Wref 1stg4s....ol092
May'12
96
*81% Safe"
Guaranteed general 4s
1977 A-O
Nat of Mex prior lien 4^s.l92ft J-J
1st consol 4s
_-.-_.1951, A-O
'
97%
M-N
T A P Branch 1st 6s......1917 J-J
Nat Rys ofMexpr lien4Hsl957 J-J
:
87%
101
"64" "70%
St Louis Div 5s
1927 J-D
fit L A Cairo guar g 4s
1931 J-J
VTashvilleCh & StL 1st 5s 1928 A-O
i ♦
Jasper Branch 1st g 6sl923 J-J
McM M W A AI 1st 6s
1917 J-J
i
82
10
"67" "68% 68" Aug'13
M-S
g 4s.
.1933 M-N
Verdi V I & W 1st g 6s__.192ft M-S
Mob A Ohio new gold 6s...1927 J-D
y
102
F-A
RivA G Div 1st
•
102
96
'97
94*4
StL Ir M&S gen con g 5s_1931 A-O
Gen con stamp gu g 5S..1931 A-O
Unified & ref gold 4s
.1929 J-J
Registered;
1929 J-J
'
77%
87
78%
97
Pac R of Mo 1st ext g 4s_.1938 F-A
2d extended gold 5s—.1938 J-J
•
99%
08
98
97
1st A ref conv 5s
:1959 M-S
Cent Br Ry 1st gu g 4s—1919 F-A
Cent Br U P 1st g 4s
1948 J-D
Leroy & O V A L 1st g 5s. 192ft J-J
•
81*4
Aug'13
F-A
....
,
74
97%
67%
79%
77%
Derby
87
No.
J'ne'13
New England cons 5s..__1945
Consol 4s_.......
1945
89%. 65%
69
May'13
101% Mch'13
104
Aug'13
1031a 104
>' 96
95ia 90% 96
_
1st collateral gold 5s.....1920
Registered
1920
40-year gold loan 4s_
1945
3d 7s extended at 4%
.1938
N H 8c
High
86
82
76
.
112
Cent New Eng 1st gu 4s..l961
Housa tonic R cons g 5s__. 1937
NYW'chee&B 1st serl
102%
102%
627|
Last Sale
85
20-yr conv deb 6s (wh iss)
Harlem R-PtChes Ist4s.l054
B A N Y Air Line 1st 4s. .1955
100
*91" "97"
May'13
82
Safe"
98*4
98*4 Sale
95ia 99*4
Texas A Okla 1st gu g 5s._1943 M-S
Missouri Pac 1st cons g 6s_ 1920 M-N
M-S
\ Trust gold 5s stamped..al917
V
Registered
al917 M-S
,
88
54
Range or
As* Low
Bid
.....1956
Oonr debentures J^s__.._1956
Conv debenture 6s
1948
78% Apr *13
Apr '13
98
K A Ok 1st guar 5s
1042 M-N
M K A T of T 1st gu g 5S-1042 M-S
Sher Sh & So 1st gu g 5S..1942 J-D
High
xovii.
Week's.
pnes
Friday
Sept. 5
"i
Non-conv 4s....
102
82
1021a
1942 A-O
gu g 5s
83
.....
Week Ending Sept. 5.
N Y New Haven 9c HartfNon-co nv deb en 4s... ...1955
71
83
71
75
....
101
'
i
72
J-J
)is
1936
I St Louis Div 1st ref g 4s
2001 A-O
Dal A Wa 1st gu g 5s.....1940 M-N
{ Kan O A Pac 1st g 4s.....1990 F-A
.
N/Y.
Nev'10
83
2004 M-S
1st A refund 4s...
Gen sinking fund 4
60
"96% HI
Mo Kan & Tex 1st gold 4s
1990 J-D
2d gold 4s
crl990 F-A
M-N
v 1st ext gold 5s.^,_.......1944
'
93
79%
9Ha
J-J
Nq. Lsw
124% Oct '12
110% A«f *11
88% Aug'13
66
Aug'13
70*4 Deo '12
91%
91%
97% J'ne '12
96% May'12
98% Moh'll
90% Aug'13
77
1
77%
68%
98%
100% 108
89
54
Bines
' MeV'10
79
con g
M StP&SSM cong4sintgul938 J-J
1st Ohic Terml s f 4s
...1941 M-N
M S S & A 1st g 4s int gu.1926 J-J
i
77
75
4s 1977 M-S
/ Stamped guaranteed
1977 M-S
{Minn & St L 1st gold 7s....1927 J-D
\ Pacific Ext 1st gold 6s.... 1921 A-O
\ 1st consol goid 5s........1934 M-N
1st end refund gold 4s....1949 M-S
r
Des M & Ft D 1st gu 4s..1935 J-J
ex
BONDS
STOCK EXCHANGE
Bangs
Jan. 1
BitA
Ash Lew
Bid
far anile RR— Sou lines 4s.l936 M-N1
W1
1
Ifut'i
Friday
Sept. 2
Week Ending Sept. 5*
[Vol.
Record—Continued—Page 3
....
72
65
64
AugT3
97% J'ly '13
72% J'ly *18
55
55
54
,
92
....
U
71*4
■
55
64*4 Aug'13
Aug'13
71%
71%
80*4 Mch'li
.95
ZLZ
MISCELLANEOUS BONDS—Continued on Next Page.
Gas and Electric Light
1
Gas and Electric Light
Kings Co El L & Pg 5s_._.lt„, A-O
r
Purchase money 6s
...1997
Convertible deb 6s.
1922
Ed E1 111 Bkn 1st con g 4s_l939
Lac Gas L of St L 1st g 5s.el919
Ref and ext 1st g 5s
A-O
M-S
JrJ
O-F
1934 A-O
Milwaukee Gas L 1st 4s_..1927 M-N
Newark Con Gas g 5s..
1948 J-D
;N Y GELH&Pg 5s
1948 J-D
L Purchase money g 4s
L Ed El III 1st cons g 5s
(NY&QE1 L &
1949 F-A
1995 J-J
P 1st con g 5s 1930 F-A
■lN Y & Rich Gas 1st g 5s...1921
Pacific G & El Co Cal G & E
Corp unifying & ref 5s
1937
Pac Pow & Lt 1st &, ref 20-yr
5s Internat Series..
1930
Pat& Passaic G & E 5s
..1949
M-N
M-N
F-A
M-Ss
99%104% 101% J'ly '13
112
Aug'13
Dec 12
124% 122
88% Apr »13
84%
101
Sale 100%
101
101% 104%
Sale 100
92%
....
97
94
93
.....
92%
11
100
8
99
100
88% 90% 90%
90%
101%
106% Apr '12
102%
102% Sale 102
82% 83% 82%
63%
106
108
106% Apr '13
101
101
J 'ly '13
92% J'ly '09
Refunding gold 5s_..«—1947
Registered ............1947
Ch G-L & Oke 1st gu g 58.1937
Con G Co of Ch 1st gu g 5sl836
Ind Nat Gas & Oil 30-yr 5s '36
Mu Fuel Gas 1st gu g 5s._1947
Philadelphia Co conv 5s...1919
Conv cfeben g 5s.........1922
Stan Gas A Eiconv a f 0S..1926
114
"88% "88%
....
100
Peo Gas Jc O 1st con g 63
107.
110% 112
2
88%
102%
102
90
"*8 loan ld3%
23
82
86%
106% 108%
99% 101%
91
92%
94%
94% Mch'13
102% JTy '12
96
94%
1943
Syracuse Lighting 1st g 5s_.1951
Syracuse LAP 5s........1054
Trenton G A E 1st g 54....1949
Union Elec LA P 1st g 5s..1932
Ref A ext 5s
110
101% Sale 101
101%
103
Feb '09
mmmm.
100
J'ne'13
102
J'ne'13
Mch 12
•
—
-
-
J-J
1001*
J-D
mmrnrn
mmmm
mmm<
•
92
M-N
M-N
F-A
M-N
J-D
J-D
J-J
M-S
-
-
93
•
95
m
96
95
Aug '13
97% May'13
J'ly *13
94
101
mmmm
04
Deo
11
100
97
No prloe Friday; latest bid and asked,
a
Due Jan.
b Due Feb«
«
Due May.
0 Due
June,
h Due July.
0 Due
Oct.
p Due
mmmm*
J'ne '13
J'ne'13
100%
Deo'li
mmrn-
mmm-m
103
••
Feb '01
Sale! 103
,
103
*
*
•
85% J'ne'12
92
•
05
18
93
94
mmm~
100%
Aug'13
99
100
....
M-S
......4938 M-N
1950 J-J
1957 J-J
5s..
195Q, J-D
Utica EI L A P 1st g Ss
Utica Gas A E ref 5s
Westchester Ltg g
112
A-O
M-S
M-S
Nov.
s Option sale.
8
101% 105%
SEPT. 6
New York Bond Record—Concluded—Page
1913.]
Wtdk't
Price
n.
ST^OKBatTHANfll
Y.
Week Ending Sept.
—
K O Ft 8 & M con k 6a
1926
KC Ft8& M By refg4s.lv»«
\
Registered .............1936
; EC&MRSB 1st gn 6S.1929
( Ozark & Ch O 1st gu 5s g-1912
Bt L S W 1st * 4s bd ctfs...1989
2dg4slncbond ctTa_.*.pl989
\ Consol gold 4s
.
.
1932
; Gray's PtTer lstgu g 5s. 194 7
8 Aft A Pass lstgu g4s.,.194S
8 FA N P 1st sink l"g 5s...1919
Seaboard Air Line g 4s....I960
Gold 4sstamped........I960
Registered
*...,...1950
Adjustment 5s._.......ol949
Refunding 4s..
....1959
Atl-Birm 30-yr 1st g 4s..el93S
Car Cent 1st con g 4s
1949
i Fla Cent ft Pen 1st g 5s_.1918
\
1st land gr ext g 5s.
1930
(
Consol gold 5s_.„.
....1943
Ga& Ala Ry 1st con 5s..ol945
! Ga Car ft No lstgug5s..1929
^
M-N
J-J
J-D
J-D
J-J
J-J
A-0
A-0
A-0
82it
75
,
v
Morgan's La
I
.1
&
75% Ang*13
73
79
84%
90
88
917,
J'ne'13
J-J
J-J
104
Nov'12
107
J'ne'12
102l2 102
J'iy *13
102* fos"
101U103i2 102% Apr *13
1023, 103%
102
J-J
J-J
101
105
.
88*4 Sale
"87*
Sale
94
93U
g
89*4
87%
102
103% 103%
•
—
May'12
88%
8884
86% May'13
87
87%
93%
"ml Sale
93%
94% J'iy '12
90%
90%
88
Aug'13
104
—------
2
88%
98
86%
95%
84
93*4
"129
5
90
96%
"88 " "ef"
83
91%
104
Mch'13
10434
100
100
10014::::
105
101"
....
Tex & N O
J'iy '13
.19% Mall'10
Jan '13
106
J'iy'13
105% J'iy '13
100
112
"
110
10412 106
110
...
106%
110
10514107
::::
101% 102 "
101% 1Q1%
91
"851s "88
88
"86% *90"
Aug'13
97% 101% May'11
gold 5s_.1943 J-J
,
62
"87" *94%
_
.
16
1948
4s..1949
Atl & Yad ,1st g guar
Col & Greeny 1st 6s—..1916 J-J
E T Va& Ga Div g 5s...1930 J-J
;
\
i
\
,
'
m
64%
106
110
! La Div B List
"79" "79""
*""i
100% 102%
103% 103%
98% 101
10434 10434
104
J'iy *13
102
102
102% 10484 102% J'ne'13
91
91
Sale
91%
92
J'ne'13
"99%
100%
"97%
101
104
Feb'13
105
111
108%
102% 108%
90% 957,
92
105
39
20
A-O
I General gold 5s..
.1935 J-D
Kan ft M 1st gu g 4s..—1990 A-0
101
104
1927 J-J
85
103%104
88%
5
8934
100*10714
59
84
56
Dec '12
59
65
68
89
100
101
.
84
97
Sale
100
s f 63.1926 F-A
Spirits Mfg g 6s___
1915 M-S
Thread 1st col tr 4s...l»19 J-J
Am Tobacco 40-yr
g 6s....1944 A-O
Registered *
......1944 A-O
Gold 4s..
1951 F-A
Roistered
.1951 F-A
Am Wrifcg Paper 1st Vf 5811919 J-J
Am
106%
98%
80
80
46%
647,
45
54
47%
Mch'13
99%
98%
May'13
94%
80
...
60%
62%
—-
59%
64
5
mmmn
51
NOV'12
51
Aug'13
102% J'iy *13
80
Aug *12
102%::
65
16
Sale
"i" ""2""
1%
81%....
%
90
....
15%
19
3
1%
82%
100
....
6
Feb
80
mmmm
mmmm
13
26%
11%
27%
28
3
1
mmmm
3
%
mmmm
82
82%
i! "75" *83%
2
103% 107%
Oct '12
84
75
11%
*»•
ioom
86
86
61%
102% 107
:::: "65" "65"
J'ne'13
16
Aug'13
Aug'13
Aug'13
J'iy *13
Sep 12
78%!
78% 79% 78%
103% Sale 1c0%
«—a
——
May'13
13
15%
45
mmmm
Apr'13
77
77
—-
-
-
52%
53
50% Aug '13
48
Aug'13
52% Sale
07
100" :::: 100% J'ne'18 1 « t 1 100% 101%
1
95
....
90
73%
»
t
1
J'ne'13
95
95
100
99
101%
70
80%
867g
91
7
84
91%
b
88
90%
09
99
78
88
90
86%
87%
Feb 13
73% Aug'13
98% Feb Ml
87% Aug'13
87.
87%
86%
88
88
62
67
95
—
88
Baldw Loco Works 1st 5s.*1940 M-N
Beth Steel 1st ext s f 5s
1926 J-J
1st ft ref 6s guar
A......1942 ^i-N
Cent Leather 20-year
A-O
g
5S.1925
Consol Tobacco g 4s_.
-.1951
Corn Prod Ref s t g 5s*...1931
1st 25-yCar s f 5s_.
1934
Cuban-Amer Sugar coll tr6s 1918
Distil Sec Cor conv 1st g 5s.19.27
E I du Pont Powder
99
80
91%
47%
60
88
89 '
100
104%
3
"~2
85% J'ne'12
mmmm
M-N
97
97%
14
mmmm
•95
"
93
Sale
Sale
92
92%
92
81%
92%
92%
109
109
92% "ei
43
93%
93
109
105% 10784 10584 Aug'13
89% 90% 89%
...
100
J-J
.*.
....0
....
90
97% Sale
95%
93%
1081,112%
May'li
108
93
:::: "93%
97
103%109
12
86% 93%
99
VTandalia cons g 4s Ser A.1955 F-A
▼
Consol 4s Series B....1957 M-N
Vera Cruz ft P 1st gu 4 Ks.1934 J-J
Virginian 1st 5s Series A ..1962 M-N
98%
91
4
6
99%
98%
86%
887,
" Apr" 13
93
Mch'13
94
"93 " "94"
Oct '12
97%
98
mm mm
93
93
mmmm
9112
99% 100
94
93
A
75%
88
1
100
75%
103% Sale 103%
99% 99%.
115
m'm
93
——
96
98
95
101
99%
105
99%
93%
116
.
L17%.
+ m
97%
98% 103%
70
76%
91
,
116
...
.3
-*—
10178
95
92%
****
100
70
120%
117% 117%
94
97%
81
,
"82% "85%
103
102% 103
93*4 94
937S
82% Sale 82
96% Sale 94%
A-O
6s_.1918 F-A
con g
Consol conv s f g 5s...... 1935
Int St Pump 1st s f 5s
1929
Lackaw Steel 1st g 5s.
1923
1st con 5s Series A
195Q
5-year convertible 6s
1915
Liggett ft Myers Tobac 7s.l944
Brake 1st
cony .6S.1928
14
94
19
76
90%
103
103%
96%
8634
"58"
....
Sale
58
23
60
84%
92%.
75%
11
76
*._.
77
ia
Sale 104%
105
99
S
84% 85%
99% Sale
—
U.~
—
84
96%
90
93%
96
70
54%
797,
97%
90
92% 95%
75% 82
101% 105%
97% 100
26
81% 89%
98% 101%
j
99
,
84
,
67
.
100
105
Sale
93
93
2
84
91%
597, 88*4
91% *96%
74
74
74
b
71
80%
1
93
96
86%
66
...
93
72
951a
119
118%
97% Sale 973g
118
119
11784
66
Sale 95%
95%
951
96
—
96%
98
....
97
91
;
9534
94%
95
85
88%
43
96
99
96%
83%
bl
4
96
,
88%
95% Sale
116% 122%
22
94
09*4
115
122%
..
85
75%80
95
6
119
—
M-N
97
91
.
84%
101
101
917,
95%
9434
92
84% Sale
96%
•99
9284
7934
95*4
mdmrnm
96%
95
J-J
M-S
A-O
M-S
M-S
A-O
5s
.......1951 F-A
Loriliard Co (P) 7s......__l944 A-O
m5s^
.
—
1951 F-A
Mexican Petrol Ltd env 6s A.'21 A-O
Nat Enam ft Stpg 1st 5s..l929 J-D
Nat Starch 20-yr deb 5a
1930 J-J
National Tube 1st 5s
1052 M-N
1
103
97
92%
90%
ArO
s
*
f 5s..1921
Inter-ocean P 1st s f 5s_.1931
Repub I ft S lstft col tr 5s_1934
10-30-year 5s s f
1940
Standard Milling 1st 5s._..19S0
The Texas Co conv deb 6S.1931
94
997,
100
05%
88%
99%
98% 103
8
91
5s(reg
~"ii *96 " *98%
91%
....
95%
Aug'13
....
91%
.*--
,
99%
88
....
89
Sale
83
20
30
27
16
85
]
ay'li
Sale 101%
100% Sale 100%
10034 Sale 100%
93
93% 9234
102
17
101
217
93
A
14
100% Sale 100%
90% 90% 897S
101
11
102
...dl963
Va-Car Chem 1st 15-yr 5s_1923
West Electric 1st 5s Dec 1922
WesUnghouseE & Ms f Ss.1931
10-year coll tr notes 5s
1917
Telegraph & Telephone
Am Teiep ft Tei coU tr 4S..1929
Convertible 4s.....
1936
20-yr conv 4 Hs (when iss) 1933
95
9534
88% Sale
1003
901
4
95'
95
2
88
883
—
—
50
8
102
102
101%
103% Sale 103
100.
90
92
53
1031
89%
807,
91%
25
.*.*
85
9784
102%102%
88% 92%
8334 89%
75
9434100%
10
85
85
99% 100%
Corp—/coup _.dl963
f lO-60-yr
96
102
Chicago Telephone 1st 5s..1923
——.1947 J-J
20-year conv 4s...
1927 J-J
* 1st ft
ref4s
——02008 M-S
Ore Ry ft Nav ion g 4s..1946 J-D
Ore Short Line 1st g 6s..1922 F-A
1st consol ; 5s.
.1946 J-J
L Guar refund 4s__——1929 J-D
Utah ft Nor gold 5s—1926 J-J
Registered
'""8 "46% *63 "
97%
92%
Ili Steel deb 4^8--*—
1940 ArO
Indiana Steel 1st 5s.......l952 M-N
U S Steel
91%
1
95%
:
50%
99%
F-A
M-N
J-D
General Baking lsfc25-yr 6s_1956 J-D
Gen Electric deb g
3^s
1942 F-A
Debenture 5s........
..1952 M-S
Gen'l Motors 1st Uen 6S...1915 A-O
100
91%
94
-
99
4^8—1936
101
100
-*-
50% Sale
...
101
Apr 13
,---«
A-O
Am
106%
Dec '12
84
1st RR & land grant g 4s.1947 J-J
1st extended 4s......1933
High
101
■
:::: Too*
J-J
----
Am Cot OU ext 4Ks
®1915 Q-F
Debenture 5s
1931 M-N
M-S
Am Hide ft List s fg 6s.. .1919"
Amer Ice Secur deb g 6
1925 A-O
102""
Union Pacific—
'
7
.
Stamped
1930
U S Realty ft I conv deb
g 5s.'24
U S Red ft Refg 1st g 6sJ_.1931
U S. Rubber 10-yr coll tr 6S.1918
Aug'13
8384
Sale
80
-*.*
?:g
84
_
Union Bag ft Paper 1st 5S.1930
101
....
1936
Trust Co ctfe deposit....*—.
Am Ag Chem 1st c 5s._._.1928
Latrobe Plant 1st
-.*-
Aug'13
"Aug'13
100
May'13
~83~ "87" 91% Feb'13
95% 96% 95*4
9584
Tol P ft W 1st gold 4s..*,1917 J-J
TolSt L& W pr lien g 33^s_ 1925 J
{ 60-year gold 4s.........1950 A-0
*
Coil tr4sgSer A—
1917
Tor Ham ft Buff 1st g 4s
Til 94 6
I
Exten ft Impt gold 5s....1930 F-A
RR 1st consol 4s........1949 M-S
20-year equip s f 5s
.1922 J-J
Winston-Salem S B 1st 4s..I960 J-J
Wis Cent 50-yr 1st gen 4s.. 1949 J-J
Sup&Dui div ft term 1st 4s '36 M-N
Low.
10
J*ne'12
80
■«-?
Railway Steel Spring—
99% Apr'11
106% Nov 04
103% 102
i
West N Y ft Pa 1st g 5s.._19S7 J-J
Gen gold 4s.
.....1943 Ar-O
Income 5s
.41943 Nov
Wheeling ft L"E 1st g 5s__. 1926 A-O
Wheel Div 1st gold 5s... 1928 J-J
N Y Air
92
99% 101
89% May'13
106% Sep T2
103%
103%
61
Nov'12
86%
....
102
J-J
F-A
J-D
A-O
105
Aug'12
102
Ulster ft Del 1st4s g 5s. 1952
1928
1st refund g con
""6
....
100
J-J
20-year 5s———
....
Aug'13
102% Apr '11
103
.2000 J-D
g 5s...—1931
WMillW& N W lstgu 5S.1930
TOl ft O C 1st g 5S—.1935
Western Div 1st g 5s....1935
2d gold 4s
..........1954 J-D
Trust Co certfs...... JWash Term] 1st gu 3Hs...l945 F-A
1st 40-year guar 4s
1945 F-A
Weet Maryland 1st g 4s...1952 A-O
Int Paper Co 1st
107%112
98% J'iy *13
Oct '06
m
63
Mch'13
....
105
100
«2000 Mch|
gold inc 5s—
2d
109%
mmmm
104
100
1955 J-J
4^s._1939 A-O
Tex ft Pac 1st gold 5s
2d
106
*.—
112
1st con gold 5s_—1894-1944 F-A
Gen refund ifg 4s
.1953 J-J
St L M Bge Ter gu g 5s—1930 A-O
•
106
103*4 NOV'12
104% Jan '13
JL
1
103
+ mm
100
100
Spokane Internat lstg 5s
i
....
m
100
Va ft So'w'nlst gu 5s..2Q03 J-J
1st cons 50-year 5s....1958 A-0
W O ft W 1st cy gu 4s.
1924 F-A
West N C 1st con g 6S
1914 J-J
HPer A of St L 1st g
mmmm
M-S
—.1936 M-N
General 5s
f
t»mmm
::::
Aug'13
107% J'ne'13
105% Nov 12
"98%102%
*87%
mm mm
J'ne'13
105% J'iy '12
64%May'13
108
J-J
99
J-J
79
87
Mch'13
J-J
100%
100% 102% 100%
J-J
103% Jan '13
A-0 ♦100% 104
73
Sep 12
M-N
M-N
86%
106
106
J^J
10484
1921 M-S
1926 M-S
1931 M-S
Series D 4-5s—
Series E 5s
Series F 5s
t
e
64%
Ga Midland 1st 3s..*...1946 A-0
Ga Pac Ry 1st g 6s—***.1922
f Knox & Ohio 1st g 6s....1925
'
Mob k Bir prior lien g 5S.1945
f
Mortgage gold 4s_.....1945
\ Rich k Dan con g Gs.__.1915
t
Deb 5s stamped.
..1927
Rich & Meek 1st g 4s
.11948
N
So Car & Ga 1st g 5s
1919
<
Virginia Mid ser O 6s
1916
.
97
B Ten reor lien g 5s—*.. 1938 M-S
■
107%
72% 78%
78% 86%
102%107
79% $8%
Dec" II
J'ne'13
106
102
,—1956 M-N
Con 1st gold 5s
t
108%
103
102
"132
101
100
....
2d 4s
...
Am Smelt Securities
Feb '07
101% May'13
101% J'ne'13
100":::
91%
91% Sale 91
So Pac RR 1st ref 4s—1955 J-J
Southern—
104
Sale 103%
104
1st consol g 5s.
...1994 J-J
100
♦101
Aug'13
I
Registered...*.
1994 J-J
7584
75% Sale 75%
Develop & gen 4s Ser A..1956 A-0
82
83
82% AUg'13
t Mob & Ohio coll tr g 4s..1938 M-S
104
*-*. 104
Aug *13
Mem Div 1st g 4H-5s
1096 J-J
Aug'13
80% 84%| 81
St Louis div lstg 4s.
1951 J-J
105% Sep '12
101%...
I Ala Cen R 1st g 6s
1918 J-J
87% Jan '13
\ Atl & Danv 1st g 4s.—.1948 J-J
82% Feb '14
\
Cent and Old Col Tr Co certs.
Columbia Tr Co ctfs
Ailis-Ohalmers 1st 5s..
"98 ' "94"
10714109
IO384 106
1918 A-0
.1920 J-J
*1938 A-O
5s..1927 J-J
T 1st 7s
con
90
99
Since
Jan. 1
No.
High
103
97
....
Equit Truat Co jtfs..-.--*.
Do
Stamped...
.......
Det ft^Ch Ext 1st g 5s.J.-1941 J-J
Des Moin Div 1st g 4s
1939 J-J
Om Div 1st g 3Ms-1941 A-O
Tol ft Oh Div 1st g 4s..**1941 [M-S
Wab Pitts Term 1st g 4s-_1954 J-D
Manufacturing & Industrial
mmm-
94
94
921*
100
104% May'12
109% Sep 12
108
100
12
J'iy '13
.
t
102% 10384 103
95% 96% 96
«...
Cent Trust Co ctfs
—
Do
Stamped............
-
30
Ask Low
Bid
1X7abash let gold St....*.1939 M-N
VV 2d gold 5s_..*.1939 F-A
Debenture Series B-*.-—.1989 J-J
1st lien equip s fd g 5s....1921 M-S
1st Uen 50-yr g term 4s--1954 J-J
1st ref and ext g 4s
...1956 J-J
Range
Is
Banff* of
Lax Sale
102% J'iy
5s. 1924 M-N
5s—1933 M-N
gu g
t
86
"66% "77"%
103% Jan '13
1st gold 6s
\ No ofCal guar g 5s
Ore & Cal 1st guar g
v So Pac of Cal—Gu
g 5s__1937M-N
So Pac Coast 1st gu 4s g_1987 J - J
v
San Fran Terml 1st 4s_.1950 A-0
"
29
90
Hous E ft W T 1st g
1st guar 5s red
1933 M-N
H & TO Istg 5s intgu—1937 J-J
Gen gold 4sIntguar
1921 A-0
Wacoft N W div 1st g 6s 1930 M-N
A & N W 1st gu % 6s.....l941 J-J
i
-751
J-J
J- J
,
i
79%
Aug *13
85%
84% Mch'13
767B
M-S
4s_.1949 F-A
....1949 F-A
f
Mort guar gold 3Hs_.*1929 J-D
[
Through St L 1st gu 4S.1954 A-0
G H ft S A M ft P„ 1st 5S.1931 M-N
; Gila V G & N 1st
85
85
85
85% Feb '18
"74«4 Sale* 74"
F-A
A-O
Gold 4s (Cent Pac coll).*1949 J-D
Registered
..£1949 J-D
___ffl929 M-S
{ 20-year cony 4s..
\ Cent Pac 1st ref gu
I
Registered
High
Oct '09
104
"82"" r83%
...1926 J-J
Seab & Roa 1st 5s
Southern Pacific Co—
Low
v
A-0
,
JVo.
Biff*
105
Aug'13
113%
2
65
78
71%
J'iy '12
J'iy '12
99% 100%
May'13
80% ""24
84% 00
«2
79
78
80
78
J'iy *13
80
12
76
81 79i2 Sale 78%
79%
101% Apr 07
16 "79% *85%
82%
"ml 83 " 82
IO8I2 108%
7P2.... 71%
77%
-92-::: 103%
99
99%
"86% Sale 85%
A-O
A-0
A-O
—
l
Atl Lout
ll
•
Price
Friday
Sept. 5
r.
NT.
Since
Jan. 1.
108
M-N
i
I
Lax Sato
Bid
St L & San Fran (Con)
;
f
Range or
Sept.5
5.
i
BONDS
STOCK
EXCHANGE
Week Ending Sept. 5.
Range
Friday
655
4
27
100
89
103%
96% 102
98% 102
90% 98
99% 102%
87% 94
96%
96%
82
90
97% 1107,
98% 104%.
.100
■
Commercial Cable 1st g 4S.2397
Registered
.2397
Cumb'd T & T 1st At gen 5S.1937
78
'mmmm
^
mmmm
...
"97 "
Keystone Telephone 1st 5S.1935
MetropolTel&Tel 1st s f Ss.1918
Mich State Telep 1st 5s....1924
N Y ft N J Telephone 5s g_1920
N Y Telep lstft gen s f 4^s 1939
97%
89%
99% 102
98% 100
..
.
"97% Sale"
Pac Tel ft Tel 1st 5s
1937
South Bell Tel & T lsts f 5s 1941
West Union ool tr.cur 5s
1938
Fd and real est g 4^s
1950 M-N
Mut Un Tel gu ext 5s
1941
Northwest Tel gu 4)ja g.1934
„
97% Sale
99
96%
.
90
Sale
92%
96
mmmm
-mmm
18
97l«
97%
9834
100
101%
101%
97
95%
98
6
95
104
2
98
101
96
99
102%
96%
.
19
89%
104
,
88%
,
93
90%
100%
85
100
99*4 100
mm
m
97
*93" "93"
MISCELLANEOUS BONDS—Concluded.
t
Aiscellaneous
Coal & Iron
Buff ft Susq Iron s f 5s....l932 J-D
Debenture 5s_...„.„...al926 M-s
Ool F & I Co gen e t g 5S...1943 F-A
r
Col Fuel gen 6s.........1919 M-N
Ool Indus 1st & coll 5s gu..li934 F-A
60%
I
Oons Ind Coal Me 1st 5s.
11935
Oons Coal of Md lst&ref 5s 1950
Gr Itiv Coalft C 1st g 6s
A1919
Kan & H O ft O 1st s f g Ss.1951
Pocah Con Collier lstsf 5s.1957
StLRockMtft P 1st 5s
1955
Venn Coal gen 5s
......1951
I Birm Div 1st consol 6S...1917
R Tenn Div 1st g 6s
al917
rCah O M Co 1st gu g 68—1922
Utah Fuel 1st
—.
92%
93
1
90
00
....
75
75
J-J
A-0
J-D
•„*
....
99
-
-
-
86
73
-
-
-
100% 103
100% 102
103
82
a
92%
mmmm
77
>03
"79% "80*
98
92
Due Jan. d Due April. « Due May*
.
Morris ft Co 1st s f 4Kb
N Y Dock 50-yr 1st g 4s
1939 J-J
1951 F-A
Niag Falls Pow 1st 5s.*...1932 J-J
Ontario Transmission 5«
.1945 SM-N
Pub Senr Corp N J gen 5s..l9(9 A-O
RayConsOopper 1st conv 6sl921 J-J
Wash Water Pow 1st 5s...1939 J-J
79
91%
85
79
Aug'13
91%l
18
88
91
92
Mge Bond (N Y) 4s ser 2..1966 A-O
10-20 yr 5s series 3......1932 J-J
•
981,103
....
74
91% Sale
............1955 J-J
877,
80%
76
mmmm
5s 1940 M-S
4s......1948 M-S
*98 " "98 "
85
76
771,
-
103% 103
80
g
Bldgs 5s guar tax ex.....1960 A-O
Ohino Copper 1st conv 6S..1921 J-J
Inspir Cons Cop 1st 6s (rects)-.
Int Mercan Marine4Ks...l922 A-O
Int Navigation 1st s r 5s
1929 F-A
7
mmmm
::::
99
Ex coll tr
Armour ft Co 1st real est4Hs '39 J-D
Bush Terminal 1st 4s....
1952 A-O
Consol 5s
Oct '12
85
85%
77% 79
9812 99
101% 102
100%102
ma
90% 90%
88
J-J
J-J
J-J
J-J
g 5s..
1931 M-S
s f 5s_..*..1953 J-J
90
J*ne'13
95%
"63% "*88 ~ 95%
103
106
107% J'ne'12
83%
8334
83% Sale
76
Aug'13
76
78
J-D
J-D
A-0
\* No price Friday; latest bid and asked,
90
75
Victor Fuel 1st
Va Iron Coal&Coke lst g
63
85%
155
98
61%
78%
85
....
87
180
Sale
62%
79
86%
81
....101%
....
90
Aug'13
94
May'13
86
Aug'13
172%
172%
88
94
85%
3
98
99
29
6H4
62%
23
79
79
2
99% May*l3
86% J'ne'13
122
82%
92
89%
96
94
190
94% 108>,
56% 66%
75% 79%
*99% *99%!
61
82
May'13
ft2
101
Aug'13
100
92
89%,
Deo '12
90
897, 90
107% Sale 106%
100
891,
102
90
107%4
2
43
sa
101% i
*88% "99'
971,191
Dee'12
J Due June*,'* Due July* * Due Aug* e Due Pot, p pus Not* c Due Dee*
« OpUon sale*
■
656
CHICAGO STOCK EXCHANGE—StOCK Record.
STOCKS—HIGHEST AND
LOWEST
STOCKS
CHICAGO STOCK
EXCHANGE
Sales
BALE PRICES
of the
Saturday
Aug. 29.
Monday
Friday
Week
Sept. 5.
Thursday
Sept. 4.
Wednesday
Sept. 3.
Tuesday
Sept.
Range far Precious
Range nor Year 1913
Shares
Lowest
Ye<r (1912)
Lowest
Highest
Highest
Railroads
30
31%
85i2
95
31U
32i4
a
o
3ia
3i2
*15
18
♦30
•mi
95
130
130
40
95l2
♦130"
*13012
131
55
•5134
55
78
77
77
55
"6212
"52"
♦205
149
62l2
205l2 ♦206
♦148
leu July* 13
NoV12
♦llU
*5%
6
95
i3034
130%
Aug'13
131
131
130
40
...
40
"""SO
*130i2 131
10
JulyT3
149
148i2 149
10V8
1078
101U 10H2 *101
1013s
♦28
29
♦28
29
97
97
*97
60lj
61
*6112
973s
62
*97
*74
77
♦126
♦119
120
♦113
*74
77
127
124
124
121
*119
121
120
♦118
125
115
♦113
973g
62i2
107"
115
125
Last Sale
♦3912
40
♦3812
40
92
♦89
92
*89
1171f 118
*116
83
♦94
95
21
*20
♦48
49
8H2
*93
♦20
83
49
180
I8H4 183i2
1811s
♦119
120
*119
120
♦22
23
♦22
86
♦81
179
83
1051s 1053s
♦240
10512 10634
250
♦102
17538
63
64i4
1
1
621s
10912 10912
♦9
182
63
109% 109%
11
♦9
Surp. A
Profits t
(00s om Uted.)
In
In
Per¬
W
Calumet National
1911.
1912.
100.0
"
Com Exch Nat.
$.000,0] 6,554,3
Drexal State
800,0
Drovers' National
760.0
Englewood State
200.01
First
118,9
393,9
57.8
National.
400,0
200,0
200.0
LlveStk Exch Nat
Mech 4 Trad State
1,260,0
200.0
2,000,0
2,000,0
Nat Bk of Repub.
National City.
National
Produce
217.5
45
«
1.504,9
750.8
114.9
1101.2
14,4'
200,0
North Side St Sav
200,0
300,0
North West State
Ogden Ave State.
People's Stk Yds St
Second Security..
Security
South Chicago Sav
200,0
500,0
200,0
400,0
200,0
200,0
1,500,0
2.661,8
200,0
149.8
Stock Yards Sav.
Union Bk of Chic.
250,0]
247.1
166,1
Washlngt'nPkNat
500,0
-
;
25,4
123
Do
500,0
200,0
09,6
94,6
5,000,0
Franklin Tr A Sav
300,0
Oreenebaum Sons
1.500,0
Guarantee Tr A 8
200,0
250,0
1,500,0
300,0
La Salle StTr ASav
Liberty Tr A Sav.
250,0
Market Tr A Sav.
Merc'ntileTrASav
200,0
250,0
Merchants' L A Tr
8,000,0
Michigan Ave Tr.
Mid-City Tr A Sav
Northern Tr Co..
Nor-West Tr A S.
Old Colony Tr A S
People's Tr A Sav
Pullman Tr A Sav
Sheridan Tr A Sav
200,0
600,0
1,500,0
250,0
200,0
600,0
300,0
27
10
842s
6
"12"
1644#
200,0
Bjd
.ice
pref
B
'
103
Mch
115
Feb
61
J'ly
Jan 27
x
121% Sep
6
85
Aug 14
101% Jan 13
x
80
Dec
x
98
Dec
103% Jan
Feb 21
Mayl9
124% Feb 17
121*3 Jan
34
Feb 13
30% J'ly
107%
Mch"6
280
Feb 15
23% Aug 28
x
2
99% Apr
140
Jan
J'ne 11
195
J'ne 12
98% Jan
614 J'ly 31
1
Ward, Montg'y A Oo pref
6% J'ly
Jan 17
50
J'ne 11
..100
100
87% Mch 24
NOV
110
Jan
NOV
9
109% Aug
14%Jan
% May
58% Feb
"9" Sep
2
om
3
$200,0
1,000,0
200,0
Union Trust Co..
1.200,0
W est Side Tr 4 Sav
400,0
200,0
Standard Tr 4 Sav
In
In
Per¬
1911.
Uted.)
1912.
iod.
1$25,7 Org. J uly 5
421,0
....
49.1
842s
1,631,3
116,0
107,8
8
Last Paid.
% Bid.
'12.
V. 95.
p.
Q-M July *13.
J-J
111
us.
July 13,
AA.
18, 118
123
IX 160 ^163
145
150
300
Q-M J'ne30'13,3
Q-J July 13,
2X 210
217
3
250
8
842s
842s
10
9X
QM J*ne30'13,2
•12.
Q-J
Chicago Bond Record
260
175
180
428
432
BONDS
330
CHICAGO STOCK
130
265
Weak ending
Price
Inter¬
WttXs
B'di
est
Friday
Range or
Sold
period
Sept. 5.
Last Sale
EXCHANGE
250
Sept. 5.
M-N
Q-J
Q-J
Range
for
Year 191S
135
'
01)
V. 95, p. 1944 100
July'13,
116
225
109
250
250
260
215
130
135
386
392
140
143
300
May'13,
July'13,
J-J
Bid
Ask Lots
182
485
1929 J-J
Chicago City Ry 6s
High
91
1927 F-A
79
96
100% Sale
Feb
80
96
95%
8912
89
Chicago Rys 5s...
98
98
92
92
Chic Rys 5s
Chic Rys 4s.
Chio Rys 4s
99% 101%
79%
89
June'13
Aug'13
Aug'13
:
92%
98
96
90
84
Sale
83
84
77%
84
F-A
93
Sale
93
93
93
93
i.
72
75
;
45
68
Aug'13
100
*...„
74%
Chlo Ry AdJ Ino 4s
cl927 Mayl
62% Sale
100
Sale
Chicago Telephone 5s...1923 J ~D
.
Cicero Gas Co ref G m..l932 J-J X 90
Commonw-Edison 6s
1943 M- S
101%
Commons Elec 5s
.51943 M- S
100%
1924 M-N t 99%
Dla Match Con deb 6s... 1920
1105
Gen Mot 6% 1st L notes.1915 A-O t 98
Cudahy Pack 1st M 5i
Jan
74
90
'12
Aug'13j
49%
62%
100
100
95
Sale
101
Sale
100
99% 101%
100%
100%
99*4 Juno'13
96% Deo '12
99
""99%
101%
.
105
103%
99% 102%
99% 100%
102% 108%
Aug'13
99% April'12'
July'13
105% April'12
"~99" "Wi
99
Inland Steel 1st M g 6S..1928
147
210
195
1913 M-N
6s
165
90
1928 J-J
Metr W Side El 1st 4a...1938 F-A
80*2
Extension g 4s..
..1938 J-J X 78
Mil El Ry A Lt 1st g 5S..1926 F-A J103
80
152
492
195
210
Ogden Gas 5s
...1946 M-N X 95
Peop Gas L A C 1st 6s
1943 A-O
108
112
Refunding gold 5s
Chlo Gas L A C 1st 5s. 1937 J-J tlOO
Coasum Gas 1st 5s
1936 J -D
Mutual Fuel Gas 1st 5s 1947 M-N *....
163
July '13, 4
July'13,
IX
l.V.92,p.l004
J'ne30'13,2
July *13, 4
V 92,p. 1537
July
13, 2X
Q-J J'ne30'13,2
Q-J July'13,
IX
425
'13
80
86% Aug'13
100*4 May'12
103% April'12
99
95
66
Aug'13
95% Sept '12
97
Sale
t 91
92%
1924 j""j t 901a
1914 J-J X 98%
99%
Sale
101%
430
Pub Serv Co 1st ref g 6S.1956
91
134
215
South Side Elev 4>*s
Swift A Co 1st g 5s
99% July'13
320
325
Tri-Clty
275
285
105
110
295
300
180
A
Lt
00U
...1923 A-O
91
92
Aug'13
85
....
Aprll'12
100
1922 J-J tlOO
be
100
■
93%
24
97
"99% *102"
100
103ft
99% 100%
99% 100%
91
97%
90% 93%
99% 100%
May '12
99% July'13
140
mus t
"j
98% April'12
Union Elec (Loop) 5s....1945 A-O
U S Gypsum 1st g 5s....1922 M- S
Western Elec Co 5s
89
"99% Too*^
Aug'13
129
Ry
96
June'13
95
205
trust lien s f 6s
"~86% '
100% July '11
100
161%
83
81
April'12
99%
M- S
87
78
76%
104% Aprii'12
115% Sept '12
100%
101%
100% Aug'13
100
Aug'13
99% July'13
1947
87
80*2
Aug'13
104i2
94%
N W G L A Coke Co 5S..1928 Q-M
185
119
*12
Jan
80%
86%
ref A ext 4J4S..1931 J-J
Morris A Co 4^s.......l939 J-J
Nat Tube 1st g 5s._
..1952 M-N
Nor Shore El 1st g 5s
1922 A-O
do
1st A ref g 6s...1940 A-O X 98
Nor Sh Gas of 111 1st 5s.. 1937 F-A
North West El 1st 4s
1911 M- S
155
Sale
Oct
87
Lake St El—1st 5s
do
160
Sept. 24; V, 97, p. 674.'
100%
94%
Kan City Ry A Light Co
V. 95, p. 593 116
not
98%
Q4
88
A-O :
int Har 3-yr 5% g notes.1915 F-A
V. 94. d. 484
added to all
-----
*99% Toi"
Chicago price
J NO
published; stock all acquired by the Continental & Commercial National Bank,
a Due Doe.
Sl«
i Capital to be Increased to $1,000,000; V, 97, p. 155.
1 June 6.
* Sales reported
beginning
t Dec. 31 1912.
v AprU 30 1913.
9 Ex. 24% accumulated diy.
to Question of litcreailag
h Ex-rights,
.
91
91%
J -D X
202
136
High
'
89%
"""
F-A t 97%
Chic Rys OOll
F-A
Chio RyPrmMg4a.cl927 J-J
330
Low
91
96% May *12
100%
100%
81
1927
series 'A"
series "B"
series MC"
6s......1913
No.
'13
90% Aug'13
82% April'12
Chic City A Con Rys 5a_dl927 A-O
Chicago Elev Ry 5a.___.1914 J-J i—
Chic Pneu Tool 1st 5s..ol921 J — J X 88
220
176
* Dividends
"I
145
Q-M J'ne 30*13,3
254
260
26'I 2 V 05, D
134
593] 130
Q-J J'ne 30*13,2
222
217
Q-J July 13.
185
IX 180
Q-J July '13. 1X 162
Q-J July *13. 1H 140
146
Q-J .July *13, IX 125
130
Q-J July'13,
1X 5190 200
9
July'13,
4
Q-J July '13, IX
Q-J July '13, IX
Ma y'10
8
Woo dla wn Tr 4 S
Am Tel A Tel coll 4a
«
on
Sep
"~15" "Nov
Surp. A
Stock, t Profits, t
Armour A Co iXn
1939 J -D t 90
Auto El60 1st M 6s......1928
I 77
Cal Gas A El unlf A ref 5s 1937 M-N t-
^ Q.-J. With extra payments Q.-F.
to be voted
Jan"
1%
80%
4
Jan
112
397
234
105% Jan
*135% May
1% Feb 10
68% Jan
2
105% Feb 19
9
J'ly 22
Jan
215
Apr
49
Aug
97% Aug
109*4 Apr
Dec
92
101
Jan
67
122% Oct
j
94% Apr
*107*2 Apr
98% Nov
*103*2 Oct
221i2 Nov
125% J'ne
94% Dec
6
108% Feb 15
Stone
120
x
asked prices; no sales Jam-1. Extra dividend,f Aug. 9 (close of business) for national banks and Aug. 11 (opening of business) for State Institutions.
were made on this day,
a Du®
5,* $400,000
•nplt&l to
122% Feb 17
Jan 25
69
76% Aug
161*2 Apr
130% May
135
Sep
Deo
114
118
63
102% Mch
73*2 Sep
126% Sep
122*4 Oct
206% Jan 10
216
July '13, 3
145
Q-J July'13,
450
3
.Apr 10 '1 1.V.92.P.1004 148
nriday; latest price this week., f Sept. 1 1911.
imiM
14
J'ne 11
Note—Accrued Interest
f.
Jan
155
134
1644s
....
....
Dec
56
Oct
111% Feb
80i2 Sep
105% Deo
67
May
3
Jan
99*4 J'ne 24
Ask.
12
us
!
61,0
97
Jan 23
117
240
6
8
Dec
100
132
128.6 Org.D ec. 6
'12.
130,6 Org. S ept. 6 •12.
147,0 Beg. b us J'ly 1'12
15
16
7,233,1
Q-J
73,0
Q-J
112,6 Com.b US. Ap 10 'I
8
8
2,908,5
Q-J
8
8
151,4
J-J
151.9 Beg. b us.J'ne L 11
224,6
8
Chi
280,4
J'ly
63
128% Jan
J'ly 10
90% J'ly 23
19
Aug 29
40% Aug 4
J-J
236
July *13, 5
8'11 V. 92, p.1004 110
Q-J July '13, 2
815
742e
292,7 Beg. b
87
97% Feb
214% Jan
Capital
218
NotpU blished
e note (fl)
10
sx
Chi July '13, 2X 257
None Q-M
1$
DeoJO'll, 4
Beg. b us .Apr 3*11 V. 92, p. 929
Beg. b us .Apr 8'12 V.94,p. 1030 160
10
2X
Q-J J*ne30T3,2^
Beg. b
Oct
103
Jan 31
76%
2
21% Oct
87
98*2 Jan 14
2
Feb
100
com
pref.
Southwest Tr 4 S
175
3
5X 225
July'13,
2X 217
1042s J-J July
300
'13, 6
6
Q-J July '13, IX 144
8
Q-J July'13,
205
2
842 s
Q-J July'13.
2X 185
6
250.0
Kenwood Tr A Sav
Lake Vie wTr A Sav
or.
OX
7
200,0'
1,000,0
8.000,0
_
6
6
6
5,000.0
ContAComTrAS
Drovers Tr A Sav
First Trust A Sav
Ft Dearborn Tr AS
Harris Tr A Sav.
7
6
8
8
460.5
1,967,6
171.2
3,249,1
15.9
118.7
286,2
152,0
2,410,5
82,2
10,438,1
tOOO.O
Mch
10
3
148*2 J'ne 10
Last Paid.
2X
us Nov I'll V.93.
p. 1235
6
Q-J July *13, 2
.8
Q-J July'13,
2
6
6
Q-J July'13,
IX
12
12
Q-J July '13, 3
Beg. b us.Aug 19'1 2 V. 95, p.523
8
10
Q-M J'ne 30'13,4
10
Home Bank A Tr.
Illinois Tr A Sav.
1042s
US .Aug
7
379,5
1311,7
1,000,0
5,600*0 12.263.2
Colonial Tr A Sav
10
us .Apr
6
Chicago City BAT
Chicago Sav B AT
Chicago Title A Tr
J'ne
150
Feb 13
63
65
Quaker Oats Co.100
Do
222
184
415
6
6
IIOI4 Feb
55% Oct
Jan
135U Jan
7
Feb 11
77
105
100
NAME.
410
6
8
Mch
Jan
150% Aug 15
16%Jan 31
296
8
6
53% J'ly 25
65% May
Dividend Record
150
6
23,2
100,0
4,500.0 .2,115,9
J'ne
115
Wool worth, com
108
138
294
6
Central Tr Co of 111
,
Dec
95
J'ne 12
Western
■
South Side State.
State Bank of Chic
70
Mch
Feb
44
-.100
55
An
109.6
9X
115,9 Beg. b
6
1182.3
8
138,5
State Bank of Italy
Mch
77
49
Mch22
Do
rights
Unit Box Bd A P Co.100
1,050 U S Steel com
..100
'13.
8
5
63,3
10,6 Org.N
39
6
212
Feb 11
60% Sep
3
Oct
61
Jan 29
55
J'ne 10
77
May 1
Jan 13
429 Union Carbide Co...100
27
....
10
55.7 Beg. b
250.01
North Ave State
169,4
623.8
5
94
(00s
% Bid.
J'ne
8
Studebaker Corp com.100
Do
pref...
-.100
783 Swift A Co
100
None
an.
10
17,8 Beg. b
89% Jan
50
73X2 J'ne 10
40
J'ly
8
47% J'ne 12
200
Apr 26
125% J'ne 10
J'ne 10
May'13
—
Kaapar State
View State.
Lawndale State..
198% Mch
104
10""~AugT3
10,000,0 12,126,7
FlrstNatEnglew'd
160,0
233.3
Foreman Bros..
645,9
Priv ate B& nk
1,000,0
Ft Dearborn Nat
8
892.4
8
2,000,0
Q-J July "lV, 2
Halsted St State
200,0
«22,0 Org.N ov 25
1912
Hibernian Bk Assn 2,000,0
1,235,0 Notpu blished
se e note
(U)
Hyde Park State.
200,0
136,3 Beg. b us Aug •12. V. 95, p.273.
Lake
Dec
J'ne 27
106
July T3, 1H
Jan '13,
6
V.95,p. 1585
us. Oct 7 '12
V. 95.p. 944
10
Q-J July '13,
3
16
16
Q-J July '13, 4
6
6
Q-J July T3, IX
10
10
Q-J July '13, 2X
8
OX
Q-J July '13, 2
12
17
Q-M Jne 30*13, 4*4
12
12 X Q-M Jne
30*13, 2%
121.6 Org.
200,0
Central Mfg Dlat.
116.7 Beg.
250,0
Cant 4c Com Nat 21,600,0 10.540.1
10
138
35
Dec'12
2K
6
Capital State
3
100
5 The
iod.
3206,7
62.6
$200,0
139% Jan
71
Jan
pflOO
Stockmen's Tr 4 8
American State.
J'ne 10
J'ne 30
Dividend Record
Capital
Stock, t
126
Mch 18
Chicago Banks and Trust Companies
NAME.
Apr
106% Oct
lilt* J'ly 14
10
Last Sale 91%
135
Aug
100
100
180
Last Sale
Jan
Feb
100
120
181%
Last Sale 6
Aug'13
Last Sale 1% ■" July'13
6214
62%
62%
63%
10912 109i2
11
131
Oct
45
pref
103
181
Sep
"J'ly
100
J'ne
Aug'13
106
126
405
55
J'ne 12
Mchl9
250
103
106
Feb
Feb
23
3,015 Sears-Roebuck
179% 180%
120
Last Sale 23%
Last Sale 92
102l2
'
1
180i4
120
♦119
106
*240
245
174'
Aug'13
21%
21%
56
176
245
102l2 ♦102
175
94~ "
19
49%
23
♦83
*17
91
325
2
1,239 People's Gas JL&Coke.lOO
400 Pub Serv of No 111 com 100
Do
pref
100
'""'25 Rumely common....100
85
Do
pref
...100
11734 12134
J'ne
135
Pacific Gas & El Cq
Do
preferred..
82i2
47
Feb 11
500
98
Do
62
11% Jan
48% Jan 31
129% Jan 30
103% Jan
118
92
Mch
Jan
35
J'ne 11
pref
;
100
Diamond Match
100
Goodrich (B.F.) com. 100
Carbon
5% Jan
Sep
60% Jan
11% Apr
Oct
6
3
MchlS
45
Jan
11
25
Aug 16
J'ly- .9
Fisheries com_100
National
Oct
40
Do
1st pref.
100
Cal & Chic Canal & D 100
Chic Pneumatic Tool.100
Marx
J'ne
3
14*4 Aug
97
Telep & Teleg__100
Hart Shaff
6
Apr
93% Jan
130
.100
113
Aug'13
♦89
Last Sale
21~"
4712
pref
100
114i2Aug*13
118
1183s
83i2
100
100
'16
125
Last Sale 39%
4
J'ne
40
104% Jan
38
Jan
19% Nov
9% Jan
Mchls
211, J'ne 10
81
J'ne 10
430
Aug 28
Radiator..100
34 National Biscuit
Do
pref
126~~AugT3
92
♦82
Aug'12
*118
125
18
6
2
Nov
40
165 llinolt Brick
125
Last Sale
♦118
♦89
118
'"115
97
July'13
Last Sale 76%
5
..100
Internat Harvester Col 00
Knickerbocker Ice pf.100
Aug'13
97
Last Sale
61
33*4 Sep
9
Sep
4% Apr
6
9
J 'no
"5i2" J'ne" 6
Do
~~~19
3612"
J'ne 10
45
Chicago Title & Trust 100
1015s
Last Sale
Dec
I6I4 J'ly 24
100 Corn Prod Ref Co comlOO
Feb'13
May
83
5*2 J'ne
"~424 Commonw'th-Edison.100
149
Last Sale 77
♦101
""424
5134
52%
Last Sale 204
Aug'13
62i2
90
J'ne 28
2
pref
...100
Shipbuilding...100
100 Booth
78
50"
Amer
25
Jan 20
102
100
pref
Do
53U
53%
53%
Last Sale
61i2
Do
29 Amer
Last Sale 98
63i2
*76
Do
3 American
10
3
91
Jan 14
18
Miscellaneous
...100
480
30
88
1,500 American Can..
34
95l2
333s
94%
Jan
24i2 J'ne 4
70
J'ly 16
100
"1"
"2"...
"3"...
"4"
lit-100
25 Streets W Stable C L_100
Do
pref
_
.100
6
Mar'13
440
212
1483s 149
1134
11%
*11%
95
65
5234
9
8%
333s
*
95l2
13012
*5134
*771%
33
95
430
.
~40~
40
*
33%
Last Sale 45
343„
430
I
33
8%
32is
Last Sale 41
•5i2
38
333s
343s
96%
96%
*____ 440
95
3
3
6
♦
3538
95
Last Sale
18
•512
Sl2
38
♦"
85s
pref
Rys part ctf
5.470 Chic Rys part ctf
465 Chic Rys part ctf
48 Chic Rys part ctf
Kansas City Ry &
Do
pref
180 Chic
95l2
32%
*30
612
♦
i !
32U
834
3l2
834
•3
•15
Do
July'13
Last Sale 70
♦94
95
Chicago Elev Rys comlOO
J*ne*13
Last Sale 28
SO
•75
95
95
♦25
90
—
•
r June 4.
"
~
-
•
"
Sept. 6
657
CHRONICLE
THE
1913.)
B.d
Telegraph and Telephone
e Amer Teleg A Cable
100
Volume of Business at Stook Exchanges
107
Comm'l Un Tel (N Y)_..25
100
110
60
72
American
50
Amer
Stocks.
State
Bonds.
Tuesday
275,471
309,443
219,907
........
Wednesday
e
...
$25,168,650
27,887,550
19,605,700
26,374,975
8134
100
66
90
Friday
280,485
......
Total
1,085,306
90
'
Sales at
New
York
Jan.
Week ending Sept. 5.
,
1
Short-Term Notes
17,500
Balto A Ohio 5s 1914...J-J
985s
99i2
96
9958
9614
Ches A Ohio 4^s 1914.. J-D
98i2
95
96
Erie
9978 100i8
9834 99'4
9714 9734
Par value
Bank shares, par
Government bonds
6s
$7,827,429,075
$447,300
111
5,338,000
Total
bonds
Listed
Tuesday
Unlisted
Bond
Listed
Unlisted
Sales.
Shares.
Shares.
Sales.
HOLI DAY
Friday
........
45,494!
2,482
V 5,507
3,394
4,436
9,502
9,485
8,284
8,639
$100,600
19,814
31,915
19,186
43,737
...
$44,200
24,500
16,500
15,400
7,304
7,637
11,364
10,582
10,966
7,065
15,124
...........
'
are
Street
Bid
Street Railways
York
2d
City
Bleeck St & Ful Fy
18
15
stlt_.100
J-J
55
150
-
.J-J
1st 5s 1924
Cent
stock.. 100
Crosstown
1
110
125
1st gold
97
5s 1932.....J-D
>■
Scrip 5s 1914........F-A I 28
Eighth Avenue stock
100 275
Scrip 6s 1914
__F-A / 99
42d A Gr St Fy stock
100 220
32
1st
M-S
1910....
6s
Debenture 4s 1951
92i2
96
96
97
96i4
97
N Y C Lines Eq 5s 1913-22 6514%
Consol
9958 100
6% notes Oct'17—See N Y Stk E x list
Chic A Alton com
e
Bid
t
76
77
e
e
1st
69
e
29
65
66
100
60
70
100
55
.100
95
.100
8OI4
com..
preferred..
1st 6s 1922..
6614
105
*29
Hocking
65
.50
com...100
Preferred
e
100
Intercontin Rub
*78*
share
*19
105
110
100
119
121
——100
101
103
Salt—....100
3
Preferred
640
International
20
630
£1
100
International Silver pref.100
109
Internat Smelt & Refg—100
105
Lanston
125
135
...100
185
190
Colonial
Oil
Continental
..100
Oil
1st 6s
1948
Monotype.....100
Lawyers' Mtge Co
100
Lehigh Val Coal Sales
50
99
101
103
Crescent Pipe Line Co...60
Cumberland Pipe Line..100
72
76
101
Eureka Pipe Line Co...100
340
345
Manhattan Transit
20
Galena-Signal Oil
100
175
.100
100
...100
National Surety
100
New York Dock com.. 100
170
100
N Y Mutual Gas L
145
160
45
55
60
Manhattan Shirt
....100
Preferred
100
180
Mortgage Bond Co
140
143
e
Indiana Pipe Line Co....50 *118
National Transit Co.....25 ♦ 40
120
e
com..
Preferred
130
N
350
Nlles-Bem-Pond
..100 A210
220
Ohio Copper Co
Southern Pipe Line Co..100 230
South Penn OIL
100 1195
235
e
200
Otis Elevator
Brooklyn City RR
10
Bklyn Hgts 1st 5s 1941. A-O
Coney Isl A Bklyn.
100
1st cons g 4s 1948
J-J
Con g 4s 1955
J-J
163
157
Prairie Oil A Gas
4512
Solar
100
350
353
105
106
67*4
68
77
78
Bay State Gas
—
60
Buffalo City Gas stock.. 100
Cities Service Co com... 100
Preferred
:100
Columbia Gas A Elec
100
*38
.......
87
82
101
103
92
Standard Oil (Kansas) ..100
385
Stand Oil of Kentucky.. 100
415
290
10U
1034
Stand Oil of N J
72
Stand Oil of N J.......100
Standard OH of N Y
100
Standard OH of Ohio—.100
152
154
96
275
Swan A Finch
...100
Union Tank Line Co....100
Vacuum Oil
....100
230
Washington OH
Waters-Pierce Oil
*29
'14M-N
.85
89
.1Q0
325
Essex A Hudson Gas.... 100
130
1st A ref 5s '29 opt
Elizabeth Gas Lt Co
95
Other Cities.
102
104
58
59
7734
79U
« Conn
68
100
Hudson County Gas
100
Indiana Lighting Co.... 100
4s 1958 opt
861$
93
133""
86
79«i
83
127
129
38
42
66
69
55
65
♦25
100
Conley Foil
270
10014
e
94
77
Madison Gas 6s 1926..A-O
102
*891$
Preferred
91
—
J-J
10U$
103~"
No Hud L H A
*6*414 S6~4~X2
«N Y State Rys com.
100
eNor Ohio Tr A Lt com.l0(
Pub Serv Corp of N J—See
Tr ctfs 6%
perpetual
No Jer St 1st 4s 1948
} Cons Tract of N J...
P 5s 1938A-0
Pacific Gas A E com.... 100
92
119
123
94
95
\38i2 "39" "
—.100
86
88
76
Preferred
...
1st g 4s
103
105"
230
mmm'm
100
76
mmm
77*
123
126
98
99
J-D
1949
90
»812
*271$
861$
.......100
Western Power com—..100
Preferred
100
78
op.J-D
mmmm
95
mmmm
110
100
iooi$
...
105
120
e
com
Preferred
91
100
451$
95
..100
United Cigar Stores com.100
Preferred
94U
92
471$
943$
100
115
120
Weyman-Bruton Co.—100
e
240
300
112
120
U S Express..
140
170
U 8 Finishing
———.50
Beok—......100
Preferred
♦431$
•50
45
611$
6 Basis,
-
98
122
100
mmmm
m
mmm
60
80
68
American
25
30
Amer Malting 6s 1914—J-D
99*4 100314
97
100
Amer Press Assoc'n
35
100
■
1
4
50
T
88
r?|
92lg
120
126
40
i
97?i 100
190
200
;J
V
150
100 xl02
41
104
8
12
.—100
27
J-J
85
J-J
65
75>
U 8 Indus Alcohol....100
28
30
.......
....
-.
5a 1929
v
}
32)
92
v
v
.100
83
113
114t|\
113
114t|l
e
Preferred
48
U S Steel Corporation—
Col s f Apr 5a 1951 op 1911
Col
s
I Apr 5s 1951 not opt
U 8 Tit Gu A Indent—100
e
95
117
Hardware.... 100
h
95
Con g
e
e
100
Preferred
93
1
....100
100
Preferred
204
American Express...—100
Am Grapkophone com. .100
.100
—100
..100
Virginia Iron O A C
Wells Fargo A Co.
Westchester
A
Bronx
100
"39
.100
87
A
185
Mtge Guar
.100
Westlngh'se Air Brake.50 ♦131
62
Willys-Overland com...100
e
Preferred
!°V
75J
50
y
9f>
Title
100
83
Worthlngton(HR) Co pf.100
70
k Listed on Stock Exchange but usually Inactive.
/ Flat price,
n Nominal,
s Sale price,
t New stock
«
t Ex-div.
y Ex-rights.
2 Includes all new stock dividends and subscriptions.
4 Listed on Stock Exchange but Infrequently dealt lm record*of
U any, will be found on a preceding-page, -ft Ex-300% stock dividend.
"
~
'
;
subsidiaries,
dividend.
75
1st g 5b 1919
Adams Express.......100
122
135
Col tr g 4s 1947
J-D / 741$ 76
Alliance Realty—
100
110
..100
e
30
40
lllV
100
—.100
com.
U S Casualty........—100
U S Envelope com..
..100
Preferred
American
90
.100
100
60
91
United Dry Goods
100
e Preferred
.——100
100
Preferred
Young (J S) Co
200
25
70
100
Preferred
e
103
American Chicle com...100
60
302
Texas Phclfic Land Tr.100
100
United Cigar Mfra
55
....M-N
Preferred ...........100
Tobacco Produots com.. 100
Preferred
—...100
45
100
;
•
Us t. V'!'
35
Preferred new..
M-N
1919..
J-D
Union Ferry stock—....100
Ex
298
Trow Directory
United Copper.....
mmmm
1st mtge 5s
185
.—100
Stern Bros pref
170
10th A 23d Sts Ferry
95
180
.
98
Trenton Potteries
160
95
97»,
93
com. .100
255
132
71
Preferred—See Cmc Stk
Singer Mfg Co
Standard Coupler
230
100
17
130
Preferred
...100
1021$ 104 <
1124!.
Safety Car Heat A Lt
100 110
Sears, RoebuckACo—8eeN Y Stk E x list
200
Preferred
101
1st 6s 1920
a And accrued
36
185
American Brass
69
Per Bhare.
35
-
245
15
Hob Fy 1st 5s 1946..M-N
NY AN J 5S 1946J-J
94*
./•
200
105
N Y A Hob 6s May *46.. J-D
6
110
Tob.100
"98
_
; ;
105
Realty Assoc (Bklyn)
100
RemlngtonTypewt'r com 100
1st preferred.—..
.100
2d preferred
100
Royal Bak Powd com...100
Porto-Rlcan-Amer
11
16
m
32
102
;
TonopahMln(Nev)--SeePhlIa Stk E XlUt-
100
23
-V
28
99
Industrial AMlscellaneous
22
11
.100
Preferred
e
90
361$
180
16
72
■fltt'V
8
160
45
20
Republic Ry A Light.
~9212
60
?
Johnson Tin FoIlAMetal 100
MacAndrews A Forbes.. 100
J-J
stock..100
1st 5s 1922
♦145s
971$
1434
e
Ferry Companies
BAN Y 1st6s 1911
N Y A E R Ferry
30
Texas A Pacific Coal
Amer Bank Note 00m
100
M-N
98
89
100
!.50
114
14
85
96
25
1st
180
100
(Geo W) com..100
preferred
44
Western States Gas A El—
1st A ref g 5s 1941
100
Pettlbone-Mulliken Co 100
Pratt A Whitney pref.—100
Producers OH
.100
79
Preferred
100
1924
251$
78
290
e
37
„21*
76
150
"791$
36
vu
Uz
100
41$
109
291$
United Gas A Elec Corp .100
80 ;
*38
100
Helme
e
"95"
9
*3l2
70
100
Sulzberger A Sons Co pf-100
$
85
78i2
...
401$
95
100
....
com
Reynolds (R J) Tobacco.lOO
96
6012 Pat A Pas Gas A Elec—.100
Stk E x list St Joseph Gas 5s 1937—J-J
103
104
Standard Gas A El (Del) 50
77
Preferred
50
72
*73* United Electric of N J... 100
70
60
100
So J Gas El A Trac...
Preferred
108
Narragan (Prov) El Co. 60
Newark Gas 6s Apr '44.Q-J
Newark Consol Gas.....100
Amer
*20 *
10
25
r_10
Ontario Silver
e
Amer Machine A Fdy__100
British-American Tobac.fl
75
•
45
95
89
mmm
32
2600
155
85
80
80
85
100
72
Loulsv St 6s 1930
(See also stock Exchange List)
Cigar com—.....100
"
173
145
85
69
...
'
78
..100
F-A
71
Indianapolis
Gas...... 50
1st g 5s 1952
76
A-O
73i4 Jackson Gas 6s g 1937..A-O
29
cLaclede Gas preferred. .100
... —
......10
372
168
—.100 2200
Pierce OH Corp (w 1) ....
•40
Tobacco Stocks
89
271$
e Preferred
*
240
Consumers Power (Minn)—
368
1%
105
.100
com
Preferred
♦720
48
102
,
%»
90
Pittsburgh Steel pref—100
Pope Mfg Co com.—...100
285
J-D
_
99
185
e
.
Standard OH subsidiaries.
5s 1938
Cem'w'lth Pow Ry A L
Preferred
Ry A Ltg com..
(old)—100 1100
40
*1
180
100
preferred
Pittsburgh Brewing
300
31!
100
Security...100
Y Transportation—.20
e
430
Stand Oil of Nebraska—100
e
400
76
73
21$
Preferred
Preferred
185
95
Gr't West Pow 5s 1946— 1-J
'31F-A
150
73
Consumers' L H A Pow—
102
c
344
J-J
1927
Gas A El Bergen Co....
Buff St Ry 1st con 5s
145
183
340
72
Denver G A El 6s 1949.M-N
98
Sou West Pa Pipe Lines. 100
Standard Oil (California) 100
Stand Oil of Indiana.... 100
69
1st 5s
N Wmaburgh A Flatbush
1st 4^8 July 1941...F-A
Btelnway 1st 6s 1922....J-J
12
Refining
42
Con Gas of N J 6s 1936.. J-J
102
102
98
77
*44
Amer Power A Lt com. .100
Preferred
...100
98
101
*75h
50
Preferred
IOU4
Brk CAN 5s 1939..—J-J
Ohio Oil Co
50
^
Am Lt A Trac com
95
Nassau Elec 1st 5s 1944 A-O
80
100
Preferred
99
77
70
Other Cities.
Am Gas A Elec com....
5s '31 A-O
80
210
98
........25 ♦128
345
.100
98
195
100
NY Title Ins Co
99
204
J-J
102
Brooklyn
821$
200
J-J
1st consol 6s 1948:
98
B B A W E 5s 1933....A-O
115
8034
*57
Northern Pipe Line Co..100
con
110
J-D
158
340
103i2
Atlan Ave RR
120
655
100
94
5U$
115
...100
100 325
Buckeye Pipe Line Co
50 *155
Chesebrough Mfg Cons.100 645
Borne-Scrymser Co
Standard G L 1st 5s *30 M-N
94
4
A-O r 49
1st g 5s 1951....
89*2 100
260
9
Jh
100
N Y Mtge A
88
95
com
80
Per
West Pac 1st 5s 1933..M-S
Standard Oil Stocks
.
46
41
120
International Nickel
78
111 C stk tr ctfs Ser A—...
118
4
3l2
,
Internat Banking Co.
Railroad Securities Co—
Anglo-American Oil
_J-J
Ingersoll-Rand
e
100
Val Products.. 100
1st g 5s 1961
31
*57
Preferred
10034
M-S
..100
Iloboken Land & Improve't
1st 5s Nov 1930
...M-N
90
Pitta Bess A Lake Erie.—50
,
Milling
Herring-Hall-Marvin
104
e
10
65
Hecker-Jones-Jewell
30
100
5
5
100
320
88
*
100
...
2
1st g 5s June 1 1922._i-D /'• 60
Preferred
.
315
Westchester 1st 5s '43.J-J
6s
140
102
34i2
116
97
100
103
Ext
130
2d preferred
66l2
98
New York Transit Co
15
„
100
N Y Chic A St L
75
67
55
96
40
80
e
128
preferred
74
Kings Co E1L A P Co. 100
98
t
1st
2d preferred
50
25
120
Colo A South com!
e
20
17
100
Preferred
e
Ask
9l2
.100
..—100
Preferred
2
85
95
101
Yonkers St 11R 5s 1940. A-O
10234 105
*1%
100
99
100
13
33
183
175
preferred...
100
Havana Tobacco Co.... 100
25
1st 5s 1942._F-A
85
"28"
.10
1st preferred
North'n Un 1st 5s 1927 .M-N
90
30
80
100
N Y A Richmond Gas... 100
A-O
26
100
2d
Railroad
eChic StPMAOm
103
e
28 A 29th Sts 5s '96 ctfs A-O /
5
Twenty-third St stock..100 220
100
.
com
Preferred
3
So Fer 1st 5s 1919
88
100
28
..J-J
130
86
General Chemical com. 100
e
2
125
N Y A E R Gas 1st 6s '44 J-J
170*
Tarry WP A M 5s '28..M-S / 76
,
.
Preferred
Empire Steel A Iron
*97* ~98l2
17
100
Emerson-Bran tlngham
e
371$
100
Preferred
e
112
Sou Boulev 5s 1945
*178
duPont(EI) de Nem Pow 100
1
100
931$
Davis-Daly Copper Co
Preferred
'
1654
93U
10
Preferred
e
1948 ctfs.-F-A r 20
103
100
5s
Union Ry
5%
com
83
100
Crucible Steel
e
79
100
Preferred
.
33
Weatingh'so El A M 6s 1915
100
100l2
240
/::::
sSixth Avenue stock
65
com
NYAQE1LA Pow Co.100
Preferred
.100
Second Avenue stock
95
100
100
Continental Can
11,000
100
Consol 6s 1945.
150
31
85
Preferred
9934
22
42d St M A St N Ave—100
Ninth Avenue stock....100
29
100
9934
$73,500
New Amsterdam Gas—
300
100
A-O / 60
Rubber Tire
90
99i2
99i2
Ref g 4s '52 op 1912—.J-J
Hale A Kllburn com
100
83l2
e
75
98
Electric, Gas & Power Cos
New York City
Cent Un Gas 5s 1927——J-J
100
-
60
101
70
Preferred
85
Atlantic Refining
Dry Dock E B & Batt—
58
96
100
com
Car Heating
Consol
100
100
Cluett.PeabodyA Co
95
5
Christopher & 10th St stklOO
993g
Consol
*15. F-A
5s
West Maryland 5s 1915.J-J
8234
1951
Preferred
80
80
100
15,500
20
103
80
«2d preferred..
100l8
99ia
90
4s
10
100
93
Goldfleld Consol M
88
102
100
....
1st rutge 63 1922
M-N
Cen Pk N & E R Rstock.100
87
75
k Hackensack Water Co—
.......*...100
J-D
Preferred
1914....J-J
100
Preferred
99
iii4
Broadway Surface RR—
4^8
Harvester
120
3Iaflln (H B) Co com.. 100
e 1st
preferred
...100
9934
90i4
Co..—100
s3~2~"
98
11
100
Wash Ry A El
28
9912
West Penn TrAWatPow 100
9914 100
100
99
1913...A-015
Seaboard Air L Ry5sT6 M-S
;
Preferred
129
list.
Northern Securities Stubs..
—.100
Common
e
110
100
;.100
Celluloid Co
Southern Ry 5s 1916.. F-A
3414
89l2
160
J-J
preferred
preferred
United Rys of St L—
65
100
1st mtge 4s 1950...
B'y & 7th Ave stk_.
2d mtge 5s 1914
com—100
100
10Q
United Lt A Rys
Ask
1st
New
Railways—(Con )
Casualty Co of America: 100
City Investing Co
South Pac Co 5s J'ne 151914
"and Interest" except where marked * f "
now
90
$21,800
25,200
Inactive and Unlisted Securities
prices
15
Cent
e
bond
87
Companies—
Oct
23s
52
....100
Preferred
9714
e
All
A-O
5
49
987S
.
Total..
1914...A-O
St L A S F 5s 1913 opt. J-D
6s Sept 1 1914 opt...M-S
HOLI DAY
Wednesday.........
Thursday
108
*2l4
Brown Shoe com....... 100
5%
4^8 Jan 1914-1925—.J-J 6514%
5%
4Ha Jan 1914-1927...J-J 65U %
99h 995j
N Y Cent 4^8 1914....M-S
981$ 99
4123 1915
—..M-N
6s Apr 21 1914
9978 100i8
A-021
N Y N H A Hartf 5s '13.J-D
9978 10018
Bond
Shares.
—.1
118
105
Preferred
British Col Copper Co
9034
e
Shares.
Saturday
Monday
116
100
987g
Missouri Pacific 5s 1914. J-D
Week ending
Sept. 5 1913.
.
87
130
Mo Kan A Tex 5s 1915.M-N
Philadelphia.
'
•
*82*
290
Michigan Central 4i2s_ 1914
Minn A St L g 6s 1914..F-A
EXCHANGES.
Boston.
11$
10
60
122
K C Ry A Lt 6s 1912..M-S b
Lake Sh A Mich So 4i2s.'14
BOSTON AND PHILADELPHIA
AT THE
TRANSACTIONS
DAILY
50
50
Inter
$507,975,000
$353,870,020
$6,786,000
$5,639,620
2
100
Int A Gt Nor 6s 1914..F-A
$1,061,000
17,870,500
489,043,500
$1,351,720
20,885,700
331,632,600
$1,000
728,000
6,057,000
$21,620
280,000
State bonds
8 1914..A-OS
Coll 5s April 1 1915
Hudson
Bonds.
RR. and misc. bonds..
6s April
Gen'l Motors 6s '15—See NY Stk Ex
86,615,169
58,552,993
$5,297,500,925
$112,400
1,117,947
1,085,306
$99,036,875 $101,416,200
$100
$23,200
Stocks—No. share3
Copper 5s 1915..M-S
Coll 5s Oct 1
1912.
1913.
1912.
1913.
99
1
100
285
9834
21,620
Stock
Exchange.
96
100
com
Preferred)
Amal
Sept. 5.
to
..M-N
6s 1939
Bliss (E W) Co com
$4,120
$280,000
$5,338,000
$99,036,875
96
Borden's Cond Milk com.100
25
ChicElev Rys 5s 1914—.J-J
.......
43
93
Preferred
Bklyn Rap Tr 5s 1918...J-J
Thursday
g
5
40
Amer Writing Paper
93
80
185
3
...100
Barney A Smith Car
70
70
175
♦
Typefounders com.100
Deb
68
50
5
pref
Bond A Mtge Guar.....100
$90,000
54,000
91,500
44,500
$1,587,500
1,340,000
1,224,500
1,186,000
*60*
Thread
100
67
F-A
Preferred
*86*"
98
Fdy 6s 1935.A-0
American (surety—
120
Pac Telep A Teleg pref.100
Southern A Atlantic
HOLI DAY
.....
100
com
Preferred
e
Northwestern Teleg....60
Pacific A Atlantic
25
e
HOLI DAY
Saturday
Monday
Mackay Cos
U. S.
Bonds.
Steel
Deb 4s 1923
112
e
&c..
Bonis.
Par Value.
Shares.
40
Gold A Stock Teleg... 100
Franklin
Railroad,
Week ending
5 1913.
100
e
Am
Ash
Bid
Indust and Miscell—(Con)
66
105
Empire A Bay State Tel.100
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Sept.
AS*
56
Central A South Amer. 100
e
4—*
'UV
92
658
BOSTON STOCK EXCHANGE—Stock Record
SHARE
PRICES—NOT PER
CENTUM
STOCKS
BOSTON STOCK
Sales
PRICES
of the
Saturday
Monday
Aug. 30
Sept. 1
r
941#
Friday
Week
Sept. 3
Sept. 4
Sept. 6
Shares
947#
966#
9514
965#
198
♦198
199
198
90
90
*89
90
90
I
65
65
•183
I
I
Railroads
Atch Top A Santa Fe_100
i>o
pref
100
20 Boston & Albany....100
73 Boston Elevated
100
90
65
7
7
*56ij
50
•7
Last Sale
10
Last Sale 7
Last Sale 43
♦10512
*10512
*200
♦164
Last Sale
'
♦200
*99
101
99
99i2
V
♦1145#
*83
♦83
84i2
102
102
102
16
♦14
16
71
71
♦70
9012
92
2
165"
28."
90i2
102
84
7
71
92l«
2%, 2 3-32
June'13
165
28i2
♦25
♦165
165
...
25
27lg
25
10 Union
l>o
*83
15114 151l4
July'13
Aug'13
Last Sale 130 May'13
84
Last Sale 86
*127"
♦127~
140
72"
"
73
♦88
90
72
♦72
72
Do
Aug'13
44i2
41
44
41
4178
935g
93U
93»8
93U
9314
217
*234
20
*19i2
109i2 10984
19I2
110
♦3
3
3l2
109
11412 H4l2
13084 131
110
115
Pneu
190
1934
115
364
1307S 131
Last Sale 1738 June'13
"224
79
80
79
79i2
79U
7978
7938
7912
63
63
63
63
63
63
63
63
47
95
95
95
95
95
95
95
242
1034
11
♦10
♦10
10S4
♦
19
*12"
*270
19
*12~
13
13
12
12
♦12
274
♦270
274
144
145
9934
91
91
9 U8
220
220
3
3
40
♦30
50
70
*67
70
145
145
145
*67l2
145
15434 15434
*26
27
*27
28
*27
1518
105i2
5
Us
H
169
170
168
♦27
28
*1
v&
168
168
4912
277#
50
4912
277s
64
62
63
62
2778
62l2
108l2
63
108U IOSI2
•
*280
1878
m
0
*158
3034
♦280
13s
411
42
40
*3512
755g
76l2
♦I84
21
3
3
1U
♦118
2
114
1
Last Sale 178
66-
415
415
*410
*1318
14
.43
39
39
2U
12l2
1234
2l4
238
Last Sale 30
17S
-
312
13s
*138
7
7
7
43#
6i2
3U
*1'4
8%
28
*Ua
*.85
458
414
51
82
82
82
2078
21
20U
61
61
20
♦158
67#
27
2712
412
4712
1U
4414
•
.80
«
*184
834
2714
H2
43
I6I4
17S
9
9
Mass Consol........
"355 Mayflower
30
Copper
Michigan
111
46U
27i2
5838
1071s
Jan
Dec
Feb
Feb
4
6
Dec
3
300
Apr
2
Jan 30
1978 Aug
6
2i4 Jan
3
4214 Jan
3
35
80i4Jan
2
32?# Feb 10
60
4i2Mch
"_2 " Dec"
7
Feb
3
Jan
4
Jan
2
555
2
7212 Jan
2
Jan
Jan
2
405
6
15i2 Dec
4712 Jan
2
25U Feb
53
Jan
2
J'ne 10
18
16
Copper 25
Nipiasing Mines
5
Butte.
...
15
.!
25
Olibway Mining
...
60
62
170
1978
♦3412
»158
20
Qulncy
525
♦191#
*34
35
1®S
67g
»25i2
15s
678
27
27
212
418
.65
36i2
197S
Last Sale .20
♦25i2
♦23s
2812
4i8
.64
26
29i2
414
28s
.66
Us
93s
545g
178
545g
1
1
1
1
44
44
4712
2
54l4
u4
44
.95
5 Ex-stook dlv.
47
.95
b
2
4i2 Feb
IOI4 Dec
6i2Jan
1514 Jan
26I2 Jan
2
6I4 Jan
J'ne 24
2
40i2 J'ly 30
65
.95
13
Jan
314 Jan
883 Jan
6
Jan
44
Jan
73i2 J'ly 12
107
Jan
100
Dec
15
J'ne 10
28UJan
15
Mch
55
J'ne 11
80
15i4 J'nolO
22
Jan
Jan
Jan
J'ne 30
1
J'ne 12
270 Shattuck-Arizona..
10
21
Feb 19
5
.15
Aug 12
25
22
25# Jan
_
3
3
721# Dec
16i8 Jan
3
43
Dec
1
Jan
3
6i4 J'ly 10
South Utah M A S
'""426 Superior
3
1
.60
34
J'ne 10
Do
pref
Utah-Apex Mining
50
5
45l2J'ly 7
li8 May 6
714 May 6
402
2
100
9i2
5534
Utah Consolidated
210 Utah Copper Co
T*
740
43lj
44
-
125 Wolverine..
a
5
50
Winona
250 Wyandott
Ex-div. and rights,
24
Feb
4
1
Dec
Jan
3
26
Jan
Jan
9
4
Deo
2
3i2Jan 28
43ij Jan
2
50
Jan
6
28g Jan
3
llUJan
2
.
3
65
Dec
1
Dec
2
Jan
2
41# Jan
25
s Unstamped.
.40
•
J'ne 12
2d paid,
to
Jan
Nov
9
Jan
2
J'ne
40U J'ne 12
Jan
2
60
J'ne 10
1
25
1
U# Jan
J'ne 10
.90
25
9
47
Jan
40
25
-
2i2Deo
34
9i2
62i2
134
3i#
10
150 Victoria
Feb
14 Dec
6
May 15
J'ly 23
50
Copper
Jan
17
40ijJan
043# Feb
J'ne 10
25
Trinity
9
38
2
l
21
...
65
2,950 Tuolumne
47U
.85
A Aug 15
13i2Jan
2
28ij Jan
3
.35
Jan 18
J'ne 10
A Jan
10
25
Superior A Boston Cop
890 Tamarack..
850 U S Smelt Ref A Min.
.65
Jan
Feb
Dec
Dec
56
33
37
Ex-rights,
•
Dec
534
2234
2i#
li2
3
Apr 30
4134 j'nolO
10
415
2
2 »4
10
23g
3H2
4i4
.75
8
7
4
2i2 Jan
2
912 Mch29
3412 Jan
2
i2 J'ne 10
She J'ne 10
2184 j'ne 10
.99
May 17
J'ne
Apr
234 Jan
233# Jan
16# Dec
60i2 Jan
18i4 Jan
3
Jan
Apr
Jan
Dec
5
2
19»4Jan
J'ne 10
.80
10
Cop.
*!
,
3
10ij Jan
2
-
25
55
93s
2284 Dec
595 Shannon
27i2
Jan
3
200 Santa Fe Gold St
20
85
2034 Jan
4
634
»178
9i2
4
2
388 Feb
2
.60
3612
Dec
25
1,555 Pond Creek Coal
Aug'13
26
Jan
May
,70
lli8 Sep
40i2 Jan
87i2 Jan 10
33'# Jan
46
27
25g
30
4'8
69
16
3
2
25
25
1,090 Old Colony
1,477 Old Dominion Co..
242 Osceola
36
6l2
27
84 Jan
Jan
Oct
26i2 Jan
20U J'ne 10
Ray Consol Copper
10
St Mary's Min Land. 25
1958
J'ne 10
Apr 28
17
Feb
7i2 Feb
22
3% J'ly 25
25
61
478
54
33
2
214 J'ne 11
5i2 J'ne 10
25
5
61
•
2
Jan
5i8 J'ne 19
3i4J'ne 4
478 j'ne 12
6
25
2078
51
2
9
25gJan 14
1
Aug 14
25
25
25
North Lake
Aug'13
Aug'13
Jan
48i2Dec
3i2 Oct
1214 Jan
678 Sep
Jan 27
35
225 New Arcadian
5,212 North
2
4
2778 Jan 10
14 May 8
3i2 J'ne 27
44i4 J'ne 12
79
J'ly
1
Feb
15i8 Jan
25
25
Feb
Jan
41# Dec
2"to J'ly
19i2 Feb
57l2 Feb
J'ne 19
5
.
Dec
241# Feb
6
14
25
430 Mohawk t
177 N e vada Consolidated
300
2918
Last Sale .95
♦4i8 : 412
414
5H4
5U2
....
20 Miami
...
9
28
Last Sale 158
1
Aaa't paid.
*H8
36
4712
.75
65
I6I4
15s
2
1*A 1A
*
50
6l2
42
2734
36l2
47l2
44
3
25
2012
9
44U
4
3512 Aug 29
2014
29
5414
Sep
3
73'2 Jan
20U
26
1*2
U4
A174
Jan
6534 Feb
2812 Feb
69
Jan
J'ne 10
87
.30
3612
47U
*178
55
4
Copper Co
La Salle Copper
Mason Valley Mines.
Jan
182
4
5
Keweenaw Copper...
Jau
4
Aug 25
82
.20
938
4
♦6
H2
43
1614
35
.65
2
.90
16
10
Lake
•258 Lake
7
Last Sale 234
Aug'13
8
8
8i2
834
23
23
♦2234 23%
»ll8
41l4
50 Kerr
May
28
Jan
51
8284
23fl
2834
41„
284
27
.85
2
33
Hedley Gold........ 10
Helvetia Copper
25
Mining.
25
519 Island Creek Coal...
1
Do
10
pref
1
610 Isle Royale Copper.. 25
7
4i4
612
25
82
26
30
4712
*17#
*
37
*1
1
6i2
3i2
H2
Feb
1334 Jan
98i2 Jan
28i2Jan 15
100
48s
5U4
8234
2034
7
.74
5468
2
2
37
93s
9
678
257#
.68
Bid and asked prices.
1912
*34
26
4U
2
28U
♦1S4
.30
28#
lh
4378
16U
7
26
29
2314
2
*.20
♦
*61
35
8i2
♦3*4
52l2
20i8
♦33S
♦l's
916 Franklin
10
62
6134
158
37i2 J'ne 10
2i4 Sep
3
914 J'ne 10
3
Sep
5
20
155 Indiana
5
'
52l2
3%
♦234
*8
1
"26"
1934
312
H2
*6
Aug'13
*
85
*19i4
51
197#
53
1958
*37#
2
35
53
Aug'13
5
5i2
13S
9^6
1
54
514
6-
287s
41*
5l2
85
178
9
28l2
*U2
*.90
Daly-West
Dec
Dec
30i4 J'ne 10
4,746 Gfanby Consolidated.lOO
30
Dec
CO
28»4 Jan 20
45
10
1,535 East Butte Cop Min.
Jan
90
6
5
395
3934
2l2
1234
Last Sale .35
»U#
J'ne
Aug
DM4 OCI
2
Mch
56i2 J'ne 11
Aug 4
10
39l2
*2l4
1258
32
16
2
108
u4 J'ly 14
18U J'ne 10
25
212
1234
180 Hancock Consolidated
43
•05
5
1,770 Chino Copper
782 Copper Range Con Co 100
18
16i2
J'ne 10
1634 J'ne 27
2i4 J'ne 6
25
39
.45
U2
4334
I6I2
5
Cop 10
10
Butte A Sup Cop (Ltd)
2,755 Calumet A Arizona..
42 Calumet A Hecla.
Centennial
1712
*23
16512 Jan
I6I2 Apr
.15
62
93
2
Jan
BosACorbCop&SilMg
1734
238s
1*2
4334
Apr
Jan 11
330
May20
29i4 J'ne 11
155
91i2Jan 11
J'ne 24
»214
123a
3l2
*30
.
50
160
275
10884 J 'ne 10
5
10i2 Aug
1034 Jan
272i2 Sep
214ij Dec
2la Mch
Jan
25
17i2
„
102i2 J'ne 10
X9OI4 J'ne
955a Mch24
Sep
4
3i2 Feb
8
220
6
39
■
*.25
♦23
Allouez
I8I4
9
J'ne 11
Nov
103
Apr
x88l# J^ly
May 12
25
285 Greene-Cananea
3U
50
Jan 13
1
10
3i4
72
43g
8
Nov
79U Nov
93i2 Jan 22
25
34
■'7
Feb
25
3
'
J'ne 24
41i2 J'ne 10
26^ J'ne 24
25
100
Mining
Adventure Con
34
18g
7i8
147
25
100
67l2
138
7l8
♦37#
25
100
5
J'ne 12
26i2 J'ly 18
27
Mch28
84 J'ne 6
25
Fruit
7
14i2 Apr 15
25
pref
435s
6
*284
884
Torrington
Union Copper L & M
43
.45
♦6
100
4
33#
Apr
6378 Apr
100
4234
*5
i
9
J'ne 18
100
4238
I8I4
i
.
"
16
..100 *136
pref
Telephone
34
312
J'ne 16
J'ne 14
Jan
17
67l4
53
86
100
34
338
■
pref
Butta-Baiaklava
435
Aug'13
32
'
6
lilum
Electric
67
*15"
Jan 23
15
412
*
100
5
35
197s
22
75
14
10
68i2
64
Apr 30
7
Jan
J'ne
4
85
21
11384 Dec
114i4 Dec
137i2 Jan
8D2 Jan
75
9
34l2
53l2
Mch
1218 Aug 22
19l2 Aug 25
67
1984
Aug
7
434
85
Dec
14
10
35
5l2
Dec
J
Jan
6912
*1784
9234 J'ly 23
54
Jan
Elec
16",907
35'8
67
418
♦.25
f.
630
H4
Aug'13
T65U
,
Last Sale 14
9
Deo
98
'
42
13
420
ne 12
12512 J'ne 10
1634 Feb 28
74
May 8
59
Mav27
4,059 Amalgamated Copper 100
1,815 Am Zinc Lead A 8m. 25
795 Arizona Commercial.
5
3i8
32l4
20
""308
227s
3l8
3214
14l2
J'ne
150
2
5
*
25 Ahmeek
4,335 Alaska Gold
Algomah Mining
1878
22
65
.
285
76is
66
J
8918 Sep
4i2Jan
3
23a4 Jan 11
11812 Jan
3
11714 Feb
1
140i2 Jan
3
9914 Jan
10
6,387 U S Steel Corp.
Do
179
pref
H2
18U
3lS
13a
4
100
1,129 Un Shoe Mach Corp.
Do
85
pref
IO8I2 1085s
22
65
105
110
Mcrgenthaler Lino
100 ,209
3
Telephone.. 10
Do
63^
♦18
,
Jan 11
Sep
J'ne 23
2i2 J'ne 11
1614 J'ne 9
LllOO
East Boston Land
549 United
625s
36l2|
30
20
28
♦30
.
57
41
a91
50
100
N E Cotton Yarn
4912
Aug'13
3512
37
765S 775s
31
40i4
12l2
4l2
6814
34i2
NOV
2 Mexican
170
*280
30
426#
*2
Oct
96
101
1838
3212
420
*1312
80
265
ll2
66l2
66
8
3
8D2 Feb
Jan
104
""260
J'ne
100
Aug 28
Apr 28
28
Last Sale
36
1
2
I8I4
Dec
80'8 J'ne 10
.12
87
49U
290
1834
215s
U4
•
290
152
13912 J'ne 12
14918 Sep
2
75
3
M
♦1
2U2
234
77is
22U
3
o
o
36
36l2
♦2134
B
18l2
*U8
108
2
*112
282
1834
*ll8
36l2
7658
O
IO8I2 IO8I2
2
*112
276
Jan
368 Pullman Co
,.100
61 Reece
Button-Hole.. 10
4912
28
41
347 Swift A Co
169
50
28
1761J Feb 11
36
Mch25
*174
Aug 28
Ma> 15
100
pref:
Do
Oct"
J'ne2l
25
12812
J'ly 3
J'ly 15
Amoskeag Manufacturing
Do
pref
52 N E
Dec
158
192 M assacti usettsGasGos 100
146
723# Dec
126
Feb 21
28812 Jan 10
I8684 Jan
2
27^8
170
50
American Woolen
Do
pref
Do
Dec
A Aug 12
May26
1
J'ne
130
IO6I4 IO6I4
♦2612
2712
Aug'13
H4
*2778
9
Dec
124
5
149Ja 150
28
♦1
Feb
Jan
2
J'no
1514
Last Sale
U4
79
130
J'ne 10
Aug'13
15H2 15312
Dec
95
3%
*145
IO6I4 106i2
Dec
16
130
June'13
♦15
125
J'ly
119
4
257
Last Sale 75
145
Mch 13
1983 Feb
100
220
•
♦3
318
110
9Hs
9118
♦
220
83
100
Last Sale 20
145
153U 154
15l2
15U
10512 1055g
2712 2712
15
105
9U2
♦3
♦30
8
91
♦216
3i8
Mch 27
McElwain(WH)lst pf 100
3
14
99I2
♦91
9"l"l4
85
70
Do
403 General
144l2
♦98l2
~9U~4
126
165
10712 Oct
260
85
pref
50
Amer Sugar Kefin... 100
Edison
Feb 14
9212
144
143l2 14412
9934
91
220
"*3"
""56
13
Aug
May
J'ne 25
Do
Do
Aug'13
Dec
7
Mch £
Jan 13
Feb
8
Feb 10
J'ne 28
115
Deo
70
50
130
100
Service..
37 Atl Gulf A W I S S
19~"
27312 27312 ♦270
274
14412 145
993s 993s
91l2 9U2
*91
9U8
*
♦9412
1034
Last Sale
7
I6214 Jan
6
90'2 Jan
9
.85
Aug 14
150
Feb 27
pref
100
1,106 Amer Telep & Teieg.100
30
Men
714 Mch 6
Jan 24
166
50
pref
75 Amer
312
1914
19U
19l2
109l2 10984
115
113i2 11312 *113
13058 131
13078 1311S
♦19
♦18i2 20
*
67
792 Amer Agncul
93
312
65
45
8912 Sep
3
114 J'ly 22
Rliaccllanoous
Chcm..l00
4334
93i2
'3i2
Dec
Nov
50
pref
Do
10
122
100
13 West End fit
73
'
Last Sale 88
7*2 Feb 19
107
Apr 29
1234 j'ne 14
100
pref
44i8
44lg
938s
♦284
19.12
110
♦72
90
72
*88
Dec
Dec
260
100
Do
Rights
Vermont iz Mass....100
Last Sale .50
94
290
99
100
Pacific
202
8
3
101i2 J'ne20
Do
35
pref stamped .100
4,623 N Y N H & Hartford.100
Do
Rights
8,850
Northern N ii.,
.100
16 Old Colony
100
50 Rutland, pref
100
71
9H2
7U2
92
218
Electric Cos
IOU4 Nov
21 Uj Sop
112
Dec
Jan 27
200
J'ly
Sep
xll5
Aug
82l2 J'ly 11
4
Jan
Jan
206
Sep
57i2 J'ne 6
5
Feb 25
43
Meb
163
J'ne 19
pref
Mass
152l4 ♦15014 15012 *149>s 149l2
*83i4
290
Aug'13
Last Sale 115
165"
♦25
9912100
Aug'13
Aug'13
♦100
102
2 1-32
218
•
*25
July'13
Last Sale 16
71*2
2%
♦165"
99
♦100
91
89*2
2A
*152
97
May 14
May
1037s Feb
2
2
114i4 Jan 30
J'ne 12
pref
23 Chic June Ry & USY.100
Do
pr©f__
Connecticut River... 100
95 Pitchburg pref
100
Ga Ry & Elec stmpd.100
Do
pref
100
Central
35 Maine
100
105i4Aug'13
Last Sale 84
102
♦14
IO6I4 Jan
10188 Feb
Jan
50
Do
Last Sale 115
84
83i2 J'ne 30
Boston & Were Elec Cos.
165
Last Sale 200
99
♦1155s
♦164
165
Year 1912
Lowest
215
181
Do
June'13
164
J'nel2
9584 J'ly
Apr 30
250
May'13
50
164
94
190
100
57iV June" 13
66
Range for Previous
'ots
Highest
1 Boston Suburban El Cos.
15
»40"
165
Boston A Lowell
Aug'13
*56la
*
10
♦164
"is""
100share
Boston & Maine..
100
Boston & Provklence.100
322
65
65
Last Sale 253
-
*7
66
*4o"
♦
65"
64
*260
mmmrn.+.
200
89i2
89i2
Last Sale 184 Aug'13
♦183
65
♦253
♦198
198
of
Lowest
67
94«8
97i4
943#
♦968$
198
t.
'
Thursday
941#
971#
♦97
i
k
Range Since Jan. 1
On basis
EXCHANGE.:
Wednesday
Tuesday
Sept. 2
76
Half paid.
J'ly
Jan
Dec
Dec
Sept. 6
Price
Week's
EXCHANGE
Week Ending Sept. 5.
Ranee or
Btnce
Bid
1928 A-O
Telep & Tel coll tr 4s_.1929 J-J
;Am Agricui Cbem 1st 5s
Am
Convertible 4s
j
1
<
M-S
1956
...»
20-vear con v 4
103ii sale"
1935
s
High No. Low
99
99*4 Apr'13
86
88% "22
103*4 Mch* 13
10212
99
103%
10312
jYj
'Am Writ Papa* 1st s f Bag. .1919
131
Atcb Top & S be gen g 4S..1995 A-0
Adjustment g 4s
..July 1903 Novl
Stamped
.July 1995 M-N
60-year conv 4s
.....1955 J-D
10-year conv 5s
1917 J-D
Atl Guii 9c W I 88 Lines 58.1959 J-J
Bos 9c Corb 1st conv s f 6s. .1923 M-Nj
~03%
Bur 9c Mo Rlv
cons
6s
95
83U
"86
99
09
....
83
91
Current River 1st Bs
1946
M-N
97
Oct
9*2" "92"
97"" ~99h
12
M-8
mmmm
+mmm
95
A-O
mmrnm
m f
m-
122
Feb'13
122
Mch'12
A-O
122""
Monday
Tuesday
Wednesday
Sept. 2
Sept. 3
608
Do
16
114%
17
67%
67%
♦57
58
♦57
68
*57
67%
50
115% 115%
5
♦18%
19%
•18%
•44%
19%
♦18%
19%
45%
♦441,
45%
26%
267fi
—
17
•44%
...
267,
27
27
27
9514
90
101
46%
46%
46%
46%
"477,
47%
36%
74%
13
26%
•47%
"48*"
~48~
5
O
a
36%
o
•73%
•12%
*36
100
100
pref
Houston Oil tr ctfs
505
17
267,
Do
pref tr ctfs. 100
Northern Central
50
100
pref
;
100
United Ry & Electric- 50
382
27
.73%
77
%
•20
•33
66%
76%
Jan
12%
26
85%
•25%
85%
76% 77%
20%
777s
20%
*20
34
*33
34
90
90
43
43%
22%
23
44
•23
23%
81
81%
79%80%
4%
49%
49
49
49
85%
85%
85%
85%
22%
97*8
92*8
90
J'ly *13
Aug *13
90
90
92
93*8 Aug* 13
100*4
100*4 Sale 100*4
J'ly '13
97!2 .... 97
9914 J'ne'13
"96*4 ~97% 97i8 Feb '13
98% Nov '11
99
98*4 Side 98*4
935s Feb *12
93
96%
95*8
94
47«
•49
86%
Bid
PHILADELPHIA
10
2
Ainer Rys pref...—..100
Cambria Iron
50
99
American
Milling
4Ud
2%
100
42
12
50
50
10
Preferred
insurance Co of N A_.
Inter Sm Pow 9c Chem 50
'Kentucky Securities
100
.30
21%
22
50
■Keystone Telep, pref.
10
•Little Schuylkill.
50
iMinehill & Schuyl H_. 50
Nat Gaa Elec Lt & P
100
"48
49
..100
North Pennsylvania
Pennsylvania Steel
Preferred
8.789
23
23
Phila R T vot tr ctfs
15
Reading
3.525
79% 80%
4% 4%
Jan 16
96
Jan
117
May
101
Jan
116
Apr
23
Apr
4
56% J'ly 28
114
J'ly 16
68
Jan
9
Apr
2
14% J'ne 11
41% J'ly 19
23
Jan
6
Feb
6
123
8% Jan
53 34 J an
121
Dec
18
Dec
27% Apr
3
Feb
6
404
Tonopan
Phila Co (Pitts) 6% prf
50
Phila Traction
50
Railways General
10
Tonopah Belmont Dev
1
United Cos of N J
100
United Trac Pitts pref 60
Virginia Ry 9c Power..100
Preferred
100
Warwick Iron & Steel.
10
30
80
94
108
39%
42%
Peoples Tr tr ctfs.
1st 5s '40.J-J
106*%
40%
42%
4s
1943
M-S
_F-A
Keystone Tel 5s 1935..J-J
Lake Sup Corp Inc 5s'24 O
Lehigh Nav 4^s *14.Q-J
Gen M:4H*g 1924_Q-Fj
Leh V O 1st 5s g 1933. J-J
Leh V ext 4s 1st 1948.J-D
6s
Spanish-Am Ir 6s *27
145
Consol 4 Hs 1923
Annuity 6s
50
....... ..
60
11.
50
82
Jan
60
28% Jan
3
84% Jan
2
6% Jan 13
61% Jan
9
91% Feb 3
49*4 Feb
86% Jan
"95"
100%
100
58
m
m
m
58%
90%
m
•
-
99%
•> -
102%
105%
•
»
-
»
101
111%
J-D
J-D
142"
93%
103
;
9278 Jan
|
167, Sep
32% Deo
\
63% Apr
56% Feb j
24% Sep :
.
29
Sep
J
89% Apr V
8% Apr i
53
Sep 4
92% Aug
Bid
Ask
93
94
j
971; 100
■2]
I
J-J
J-D
97% Consol Gas 5s 1939
104
A-O
91%
92"
Cons G E & P 4Hs '35 J-J
86%
87%
Consol Coal 5s 1950..J-D
86
88
Gen
100% 101
94%
101
4}4s 1954
Fair & CI Tr 1st 5s *38 A-O
Ga & Ala 1st con 5s
Ga Oar&N 1st 5s g
'45 J-J
'29 J-J
73% Georgia P 1st 6s 1922..J-J
Ga So & Fla 1st 5s '45.J-J
99% 100
1
3
i
102
102
106
103
G-B-S Brew 3-4s
681,;
80
77
35% Sep
Sep
100
BALTIMORE
Col 8c Grnv 1st 6s 1916
160"
"72%
Dec
6
58% Aug
Coal 8c O Ry 1st 5s '19A-^0
Coal & I Ry 1st 5s'20 F-A
Ask
98%
113%
97
Dec
49% Dec
1116% Jan
22% May
74% Jan
8
J'nelO
20
Jan
55% Oct
12% J'ly '.
43% 44%
*51.M-S
T4% 75
Houston Oil div ctfs
F-A
90
elsbach s f 5s 1930
J-D
100%
Knoxv Trac 1st 5s '28 A-O
Wll-B G&E con 5s '55.J-J
93% MaconRy&Lt 1st 5s'53J-J
York Rys 1st 5s 1937.J-D
"97%
Md Elec Ry 1st 5s '31 A-O
Memphis St 1st 5s '45.J-J
BALTIMORE
Monon V Trac 5s '42 J-D
Inactive Stocks
68
Atian Coast L (Conn).100 $37
242% Mt Ver Cot Duck 1st 5s_.
97
170
NptN & O P 1st 5s'38M-N
Canton Co
.100
93
N 9c A Terml 5s *29..M-S
"e"s"
Consolidation Coal
.100
87% 88 "j
Nor&Port Tr 1st 5s'S6 J-D
36
Georgia Sou & Fla
100
97*4 98%;
Norf Rv 8c L 5s *49__M-N
91
1st preferred
..100
99%
North Cent 4Hs 1925 A-O
80
2d preferred
100
Series A 5s 1926..
J-J 103
3
G-B-S Brewing
100
Series B 5s 1926
J-J 103
Bonds
97
Pitt Un Trac 5s 1997..J-J
Prices ass all "and
Poto Val 1st 5s 1941
J-J 100%
interest"
108%
Sav Fla 9c West 5s *34 A-O
88
Ball City 3 Hs 1930...J-J
Seab Air L 4s 1950
A-O
82%
93
4s 1954-1955
Various
102
Seab 9c Roan 5s 1926..J-J
1021,
5s 1916..
M-N 101
98
99% South Bound 1st 5s_.A-0 102%
Anacostla 9c Potom 5s A-O
"84% 85*
"
94
deb 4s_M-N
93
94
|Atl Coast L(Ot)ctfs 5s J-D
100
103
90
96%H
Atl C*st
conv
U El LAP 1st
4%s'29M-N
M-8
Un Ry 9c El 1st 4s '49
Income 4s 1949
J-D
89%
82
63
J-J
87
B S P 9c C 1st 4Ms '53 F-A
Bait Trac 1st 5s *29. M-N
94
103
Oonv notes 5s 1914 J-J
No Bait Div 5s 1942J-D
104
Va Mid 3d ser 6s '16.M-8
wi
'32.M-N
103
3-4-5* 1921 M-S
101
Ext 8c Imp 5s 1932 M-S
88%
102% Chas City Ry 1st 5s'2 j J-J
80% 80% Chas Ry G 9c El 5s '99MS
103
Is25._M-8
101
5-20-yr 4s 1925
"99"
'39.A4)j
6 Bx-dlv. and rights.
J-J
50
23
24% Feb 14
United Rys Invlst coll tr
s f 5s 1926
M-N
111
Penn Steel 1st 5s '17.M-N
People's Tr tr ctfs 4s.l943
P Co lst&coll tr 5s'49M-S
Con 9c coll tr 5s *51 M-N
691,
Phil Elec gold tr ctfs.A-O
Trust ctfs 4s 1949
J-J
P 9c E gen M 5s g '20.A-O
18
Gen M 4s g 1920
36
A-O
V.
J'ne 10
877, Mch
78% Feb
8% Jan
U Trac Ind gen 5s '19.J-J
Un Rys tr ctfs 4s *49 _J-J
Gen cons 4s 2003
Pa 9c N Y Can 5s
Warrants.
Wilkes Gas 9c Elec....100
37
20% J'ne 10
J-J
Stan'd Gas 9c El 6s'26 J-D
J-D
1923
4
63% J'ne
5934 Apr
Stand Sti Wks lst5s'28 J-J
116
-
M-N
81% 821, Leh V Tran con 4s '35 J-D
9
1st series A 4s 1935.M-S
1st series B 5s 1935 M-S
7
**7%
Markets tEl 1st 4s '55M-N
NatLH&P serB 5s '19 J-J
New Con Gas 5s 1948.J-D
N Y Ph 9c No 1st 4s'39 J-J
Income 4s 1939...M-N
10
10%
140
—...
York Railway.......
Preferred
Read Trac 1st 6s '33
"60 J-J
4
15% Jan
4
29% J'ne 12
95% Roch Ry & L con 5s '54J-J
A-O
Asphalt 5s 1916.M-S
Consol
Washington-Va Ry
100
Preferred
100
Welsbach Co..
100
West Jersey 9c Sea Sh. 60
Coal..
84
83%
Rys tr ctfs 4s'49J^J
Interstate
100
6% cumulative pref. 50
Phila German 9c Norris 50
'07.F-A
Berg&EBrew lst6s'21 J-J
S'tl 6s 1998.Q-F
Ch Ok & G gen 5s 1.919 J-J
Con Trac or N J 1st 5s '33
Elec &
Feb
J'nelO
70% J'ne 10
Bid
85
J^s'33F-A
39% Dec
73% Deo
13
Sep I
27
J'ne
81
Ph & Read 2d 5s 1933 A-O
Ex Imp M 4s 1947.A-0
Terminal 5s g 1941 Q-F
P W & B col tr 4s *21.. J-J
Apr
31% Jan
9
93% Jan
3
84% Jan
3
237, Mch28
37% Mch28
61% Jan 9
22
46% J'ne 10
80% J'ne 10
PHILADELPHIA
Ask
Sep
Apr
50
United Gas
Jan
47
6
50
Union Traction
303
7
Oct
Mch
J'ly
Jan
13% May 10
....
261
J'ne
18
9
9
9
4
9% J'ne 10
Impt__.»
49
85%
1
40%
41%
11%
5234
*49% Feb 24
12% Jan
26% Sep
70*8 J'ne 10
75% J'ne 10
4
J'ly 22
49
Bid
50
2
27% May
59% J'ne
18% Jan
47% Jan 24
53% Jan
25% Nov
72% J'ly
130
Apr
45% Mch
Jan 30
21
54% Jan
427, Feb
.78
May 13
J'ne 10
60
Mining....
1
...
85%
Harw Elec 1st Cs 1942
100
137
43
Fr Tac & H
50
Pennsy receipts $15 paid.
Pennsylvania Salt
60
.....
V.999
66%
Bethleh
Gen
Lit Brothers
Westmoreland
,
Edison Elec 5s 1946..A-0
[Keystone Watch Case 100
Preferred
6
86%
Alt & L V Elec 4
50
Lehigh Valley.'
60
Lehigh Valley Transit 50
Do
pref
50
Pennsylvania RR
50
Philadel Co (Pittsb).. 50
Philadelphia Elects
25
327
Prices are all "and
interest"
Del Co
;
1
50
43
Am Rys 5s 1917
Atl C Gas 1st s f 6s
100
100
Electric..
Huntington & B T
Harwood
Leh C & Nav tr ctfs..
22%
Am Gas & Elec 5s
100
100
Central Coal & Coke
Preferred
Consol Trac of N J
142
Highest
120% Jan 31
33
175
(1912)
120
11% J'ly 29
42% J'nelO
12%
Year
,
Lowest
J'ne 12
Elec Storage
26
PHILADELPHIA
Ask
9778100%
J'nelO
J'ne 11
227
85%
76% 77%
*20
20%
*33% 34
5
99%
97%
J'nelO
JnelO
49
.
97
99%
97%
14
2
111
*22%
4%
6
97
101
101
Gen
60
Bonds
Inactive Stocks
j
♦47,
987,101%
D Flat prices.
Highest
41
12%
80
90
100*4100%
95% 95%
95*8 J'ly *13
92
37
Battery. 100
Asphalt
.."
1100
Do
pref
100
Keystone Telephone. 60
Lake Superior Corp._100
23%
79%
103%
90
96*8
50
Electric Co of America 10
775
22%
22%
*23
100
100*4 Mch'13
50
36%
48
86%
,
106% 110
88
88
Aug '13
Apr 07
07
50
26
34%
56
♦33%
657,
55% 56%
66%
43%
22%
43%
22%
22%
43%
16
11
1021, 103
Cement
73% .73%
20
13
26
117% 125%
7014 Deo '10
J'ly 13
J-J
Railways
Cambria Steel
1,695
46%
12%
48
20
♦12%
99*4 1011,
67
67
Aug *13
103
J-J
American
15
38%
•35%
74%
12%
26
85%
76%
•73%
85
26%
•85%
•3$
45%
*12%
48
101
21
92l4 Mch '12
Lowest
Do
*86
36
36%
73%
93
101
13
117*8 J'ly '13
101
Apr '09
111*8 Oct '12
106*8
10718
10718 Sale 106i2
88
Aug '13
American
38*8
90
10U2
67
94%
99%
97
Range for Precious
below)
see
Seaboard Air Line.
39
46%
*38%
46%
38
39
" "97""
9314
Apr
101*8
Philadelphia
♦38
94
94
Inactive
and
Baltimore
Con Gas El L & Pow. 100
♦113
112% 112% ♦113% 114
16%
16% *16
16%
16%
♦112%
Bonds
Stocks
Shares.
Sept. 5
113% *112% 114
113
112% 112%
112% 112%
(For
Week.
Friday
Sept. 4
III I
101%
Range since Jan. 1
of the
Thursday
Sept. 1
Saturday
Aug. 30
100%
80
78
95
Aug'13
Aug'13
ACTIVE STOCKS
Sales
CENTUM PRICES
PER
90*8
* No price Friday, latest bid and asked.
bonds.
10812113
76*8 76%
9012 901,
Exchanges—Stock Record, Daily, Weekly, Yearly
Philadelphia and Baltimore Stock
PRICES—NOT
122
addition to the purchase price tor all Boston
NOTE.—Buyer pays accrued Interest In
SHARE
" "95
95
Mch'13
13
J'ne'08
94
~90"
Torrington 1st g 5s
.1918 M-S
Union Pac RR & Id gr g 4s_1947 J-J
20-year conv 4s
1927 J-J
United Fruit gen s f 4^s
1923 J-J
Debenture 4^s
1925 J-J
U S Steel Co 10-60-yr 5s Aprl963 M-N
West End Street Ry 4s
..1915 F-A
Gold 4Hs
1914 M-S
Gold debenture 4s
.1916 M-N
Gold 4s
1917 F-A
Western Teleph & Tel 5s
1932 J-J
Wisconsin Cent 1st gen 4s
1949 J-J
98
92
Feb
95U
95*8
..
1930 F-A
1919 M-N
1929 J-J
Seattle Elec 1st g 5s
Shannon-Ariz 1st 6s g
Terre Haute Elec g 5s
110*g
92l2
J'ly '13
97% Sep '11
95
A-O
1940
1927
1933
1933
107
J'ne'13
10014 Aug'12
92
J'ly *13
80i4Sep '12
Aug'13
97% 97
1926 A-O
Det Gr Rap &
85%
92
Apr '08
97
F-A
Puget Sd Elec Rj' 1st 5s
1932
Repub Valley 1st s f 6s;..._1919
Savannah Elec 1st cons 5s
1952
98% 100%
791, 88%
94
mm mm
mmmm
100
83
95%
94
1924 F-A
Colony gold 4s
99*4
961«
967,
115
......1948 J-J
6s
94ig
92
Oreg Sh Line 1st g 6s
1922 F-A
Pond Creek Coal 1st 6s ...1923 J-D
113% Feb 11
01
May'12
89
87
100
99
107
1920 J-D
Unstamped 1st 6s
Old
791, J'ne'13
85
82
Copper Range 1st 5s
.1949 A-O
Cudahy Pack (The) lstg 6-1924 M-N
Conv deb
99*8
93%
117
J-J
J-J
New River (The) conv 5s_.1934
N YNH&H con deb 3 Hs. 1956
89*4
95"" "98
May'13
997, 100 J'ly '13
98%Mch*12
98i2 Dec '12
83
J'ly '13
98"
1931 M-N]
1921 J-D
f Bs.
l"04"l4
82
98
Ch M 9c St P Wis V div 6s—1920 J-J
s
102,
104U
|1103 Oct '07
.19201 J-J
Pitch burg 4s
Fremt Elk & Mo V 1st 6s
101
J'ne'13
83
100*4
Denver Exten 4s
.1922 F-A
Nebraska Exten 4s...... 1927 •fl-N
,
B & S W s f 4s
1921 M-S
Illinois Div 3Hs
1949 J-J
Chic Jet Ry & Stk Yds Bs..l915| J-J
*
Coll trust refunding g 4S.1940 A-O
Dominion Coal 1st
Feb '12
J'ne'13
16414 3Tne *13
s
W 1st 4s
85
60
J-D
1951
Chic 9c W Mich gen 5s
Concord & Mont cons 4s
May'13
101
101
Rap & Mo Riv 1st 7s 1916 M-N
Cent Vermt 1st g 4s_
May 192U Q-F
OB AQ Iowa Div 1st 5s...1919 A-O^
Iowa Div 1st 4s.........1919 A-O
Ch 9c No Mich 1st gu Bs
97
95^8 Feb 12
IOOI4 Mch'09
104% Oct '08
Cedar
Ch Mllw 9c 8t P DubD 6s_
'84% ~86%
64i4
50
..1942 F-A
..1916 J-J
Butte El 9c Pow 1st 6s
ref 4sgu.l936 A-O
Kan C M & B gen 4s
1934 M-S
Assented income 5s
1934 M-S
Kan C & M Rv & Br 1st 5s.1929 A-O
Marq Hough & Ont 1st 6S..1925 A-O
Mass Gas 4H*
1929 J-J
Deben 4 ^s__
Dec 1931 J-J
Mich Telephone 1st 5s
1917 J - J
New Eng Cotton Yarn 5s..1929 F-A
New Eng Teleph 5s
;
1915 A-O
5s
1932 A-O
High
Low
No
High
99*8 Apr *13
94i2
94%
107% 108% 108i2 May'13
76*8 Jan '13
90i? Feb '13
78% May'13
95
Aug'13
K C FtS 9c M Ry
97
Ask Low
99*4
99U
M-N
Kan C Ft Scott & Mem 6s..1928
98
"59 " "67
64
64
Boston Elev 3 -yr g 4s
1935 M-N
Boston 9c Lowell 4s.......1916 J-J
Boston 9c Maine 4^s
1944 J-J
.....
10414
"93""
95% Aug '13
86
87
87*, Nov 12
947, 971, 8414 Aug '13
99*4 1001, 97
J'ly '13
110%Mch'll
'
4s
106
J'ne'12
94t<
94%
,
Plain
89*4
897, J'ne 12
.1915 M-N
Am Zinc L & S deb 6s
Jan. 1
94i8 Aug *13
A-O
J-J
Registered 4s
1921 Q-J
Houston Elec 1st s f gen 5s_1925 F-A
la Falls & Sioux C 1st 7s...1917 A-O
Kad C Clin 9c Spr 1st 5s
1925 A-O
General Motors 1st 5-yr 6s_1915
Gt Nor O B & 0 coll tr 4s..1921
102
877,
Sines
Last Sale
Bid
High
Aii|Low
"
"88% Safe
Week's
Range or
EXCHANGE
Week Ending Sept. 5.
1.
Jan.
Last Sale
Sept. 5
BOSTON STOCK
Range
Price
Friday
Sept. 6
BONDS
Ranoe
Friday
BONDS
BOSTON STOCK
I
659
Boston Bond Record
1913.1
•»«■■»*
*87"
100
99
-
■
Cent Ry cons 5s
Funding
4th
ser
5th series
5s
1936—J-D
86%
-
102
111
...
....
$15 wdd.
„
99
City & Sub 1st 5s 1922 J-D
Oity&Sub (Was) 1st 5s *48
$ *$« paid.
100
90
•*%
101% 102%
100%
Va (Stafc~) ss new '32.J-J
Fund debt 2-3s 1991 J-J
West If C con 6s 1914.J-J
Wil 9c Weld 5s 1935 ...J-J
100
105
TT
-.4.
660
THE
CHRONICLE
txwestmmi
RAILROAD
'
*
_
x
The
following
table shows the
xcvii.
Mf
liitelligexice.
I*""
.
[Vol.
GROSS
EARNINGS.
earnings of every STEAM railroad from which regular weekly or
monthly returns^
The first two columns of
figures give the gross earnings for the latest week or
month, and the last two
columns the
earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal
year totals of those roads whose fiscal year does not
begin with July, but covers some other
period.
The returns of the electric
railways are brought together separately on a
gross
be obtained.
subsequent
Latest Gross Earnings,
V
ROADS,
Week
Current
Year.
or
Afon'h.
▲la N O & Tex PacN O & Nor East.
July
Ala & Vicksburg.
July 1 to Latest Date.
Previous
Current
Previous
Year.
Year.
Year.
ROADS.
N Y Ont Sc West...
N Y
Norfolk & Western. June
Northern Pacific.
July
Northwestern Pac
June
Pacific Coast Co
June
Pennsylvania RR__ July.*.
Bait Ches & Atl. July...
Cumberland Vail July...
._
Long Island
Maryl'd Del & Va
N Y Phila & Norf
Phil Bait & Wash
July...
W Jersey & Seash
July...
Pennsylvania Co
July...
Grand Rap & Ind
Pitts C C & St L. Ju|y,..
July...
_
7,483,778 6,749,917
1,435,384 1,292,997
Aug
June
June
June
_
Denver &
Detroit Tol & Iront June
Detroit & Mackinac 3d wk
Aug
Dul & Iron Range.. June
Dul Sou Shore & Atl 3d wk
Aug
Elgin Joliet & East- June
El Paso & Sou West June
...
July
....
Fonda J ohns & Glov June
Florida East Coast-. June
Georgia Railroad-_ July
Grand Trunk Pac__ 3d wk
Aug
Grand Trunk Syst. 4th wk
Aug
.....
.....
.
Grand Trk West. 3d wk Aug
Det Gr Hav & M 3d wk Aug
Canada Atlantic. 3d wk Aug
Great North Syst__ July
Gulf & Ship Island- June
Hocking Valley...
July
Interoceanic Mex.
Kanawha & Mich..
Kansas City Sou...
Lehigh Valley
...
1,710,015 1,660,916 10,196,316
137,898
129,498
1,056,861
48,527
48,197
353,765
48,464
46,626
180,725
704,015
154,587
690,036
3d wk
June
Aug
182,684
296,772
813,884
150,566
296,931
833.797
July
July
3,447,701 3,533,707
& Penna
June
a Mexican
Railways 3d wk Aug
Mineral Range
3d wk Aug
Minn & St Louis.. 1 4th wk
Aug
41,233
197,400
5,274
230.671
f
Minn StP&S S MI 3d wk Aug
577,271
Chicago Division/
6,468,921
1,982,323
690,036
5,097,005
1,341,000
1,315,750
3,145,253
833,797
3,533,707
1,533,572
7,752,530
3,303,229^
813,884
3,447,701
1,717,289
8,308,300
10,230
998.782
606,861
14,739
15,487
77,150
961,129
446,792
1.224.200
112,658
230.370
1.567,157
1,461,700
.
_
...
*
l<H048l|
...
...
....
*
AGGREGATES OF GROSS
Current
Year.
Weekly Summaries.
Previous
Year.
Increase or
Decrease.
2d
4th
1st
2d
3d'
4th
week June
week June
week
week
....
week
week
week
1st
week
2d
week
3d
(41 roads)
(39 roads)
June (39 roads)....
July (41 roads
July (41 roads)
July (39 roads)
July (36 roads)
Aug (41 roads)
Aug (41 roads)
Aug (42 roads)
week
14.167,762
14,191,787
18,519,740
13,547,151
14.055.757
14,503,441
21,077,101
14.350.345
14,798,702
21,220.128
14,789.903
15,163,178
15,662,277
15,866,4041
13,900,378
13,870,253
18,044.170
13,206,284
13,955,741
14,292,486^
July..
3d wk Aug
3d wk Aug
Cin NO & Tex P. 3d wk
Aug
Ala Great South. 3d wk
Aug
Georgia So & Fla. 3d wk Aug
Spok Portl & Seatt. June
Tenn Ala & Georgia 2d wk
Aug
Tennessee Central
June..
3,706.970
1.345,482
5,052,452
360,000
941,128
403,337
11761011
1,322.273
234,952
191,880
106,148
41,174
458,910
1,942
.
Texas & Pacific
Tidewater & West
Toledo Poor & West
Toledo St L & West
Union Pacific Syst.
Virginia & So WestVirginian
Wabash
Western MarylandWheel & Lake Erie.
Wrightsv & Tennille
Yazoo & Miss Vail.
239.675
76,649
12,707
Delaware & Hudson
233,925
186,602
91,609
44,106
412,261
2,356
.
12,222
1
to
to
1
to
1
to
Chicago Indiana & Southern.
Michigan Central
Cleve Cin Chic & St Louis...
Peoria & Eastern
Jan
Cincinnati Northern
Pittsburgh & Lake Erie
to
Jan
1
Jan
Jan
1
to
to
Jan
1
1
to
Jan
1
to
New York Chicago & St Louis Jan
Toledo St Ohio Central..
Jan
Total all lines
Jan
...
1
1
to
Baltimore
Chesap & AtlanticCumberland Valley
Long Island..
Maryland Delaw & Virginia—
N Y Philadelphia St NorfolkNorthern Central-
to
1
1
Jan
;
to
Jan
to
to
1
to
Jan
1
to
Jan
1
1
1
1
1
1
1
1
1
to
to
Vandalia
Jan
Total lines-—East Pitts & Erie Jan
1
to
1
to
~West Pitts& Erie Jan
—All lines E & W. Jan
1
to
...
Jan
Jan
Jan
Philadelphia Bait & Wash
Jan
West Jersey & Seashore
Jan
Pennsylvania Company
Grand Rapids & Indiana
Pitts Oincfn Chic & St Louis.
-
Grande Junction
...
Jan
Jan
Jan
to
to
to
to
to
to
to
1
to
Dec 1
to
Jan
to
1
"
%
Monthly Summaries.
1.93
2.35
2,64
1.90
0.72
1.48
0.68
2.22
2.40
1.29
Cur. Yr. Prev. Yr.
237,217
233,545
November—237,376
233,305
December —238,072
234,146
January ...235,607
232,179
February.-.240,986
237,756
March...-.240,510
237,295
April
240,740
236,515
May
239,445
236,619
June
230.074
227.242
July
90,307
88,321
October..
.a Aiexican currency,
103,535
179,686
154,642
497,394
2.719,750
7,644,251
7,066.251
306,583
807,830
Current
Year.
June
11,691,472
.65,967,048
33,995,181
3,371,894
2,518,422
20,671,224
18,966,160
1,908,815
727,997
11,690,954
7,077,054
3,315,655
July
July
July
July
July
July
July
July
July
July
July
July
July
99,753
180,757
559,780
7.818,585
145,727
403,882
2,550,010
7.243,057
6,791,785
348,993
726,167
'
Previous
Year.
1.769,684
724,207,
9,737,701'
6.588,613
2,902,913,
174.402
152,884
2,051,593
1,795,623
6.880,561 6,235,931]
78.960
67,248
2,324,016 2,051,056
7,612,544 7,073,513.
12,112,288 11,322,517;
3,482,403 3,534,851!
37.336,285 33,494,543"
3,077,115 2.961,616 {
24,980,684 23,866,3911
6,256,288 5,701,072
148060049
136890669]
73,0-49,583 67,274,200
221109632 204164869
452,185
423,872
2,059,538
1,945,601
Current
Year.
Previous
Year.
Increase or
Decrease.
8
$
$
293.738,091
276,430,016
263,768,603
246,663,737
232.726,241
249,230,551
245,170,143
263.496,033
259.703,994
76,369,850
258,473,408
244,461,845
234,087,361
208,535,060
218,336,929
238,634,712
220,981,373
232.879.970
242,830.546
72,341,958
+35,264.683
+31,968,171
+29,681,242
+38,128,677
+ 14,389,312
+ 10,595,839
+24,188,770
+30,616,063
+ 16,873,448
+4,027,892
,
,
...
1
10,109,012
59,737,780
170210409' 151629554
105191200 96,696,849
July,
July
July
July
July
July
July
July
July
July
July
July
July
July
July
May
July
.
29,490,089
3,113,310
2,331,737.
17,936,629
17,296,885
%
13.64
13.07
12.68
18.28
6.59]
4.46
10.90
13.14
6.95
5.57
Includes the Bos-'
being a Canadian:
IndlanaRR.j In-1
& Ft. Dodge and
Louisville St Atlantic and the Frankfort * Cincinnati.
(Includes the Mexican
International,
u Includes
1. \ » Include® not only operating
revenues,
but aUov all other
v;
-7,—
J—. ^a3 Oeatral in both years and the Wichita Falls Lin6s in 1912, beginning Nor,
receipts,
x Inciudea^st,
T^iOa_I^_MQ.untain *.Southenu^--^'
—
1,543,690
2,630,260
709,440
7,822,609
b Does not Include earnings of Colorado
ton &
Springs*; Cripple Creek District Railway from Nor. 1 1911.
Albany, the New York & Ottawa, the St. Lawrence &
«
Adirondack and the Ottawa * New York
jroad.does not make returns to the Inter-State
Railway, the latter of which,
Commerce Commission.
eludes the Cleveland
/Includes Evansville * Terre Haute and Evansville <&
Lorain * Wheeling Ry. in both
years,
n Includes the Northern Ohio RR.
(Wisconsin Minnesota & Pacific,
p Includes earnings of Mason
s Includes
City
*
17.577
1.684,335
2,771.856
Period.
1
Rutland
891,086
411,730
11762,391
1,287,378
_
1
RIo
1,206,518
4.593,520
365,000
„
5,717.883
328,314
1.545,825
2,840.346
1,819,138
42,100,364
15,215.513
57,315,877
2,159,397
9,124,474
3.012,596
11,762,391
9,292,197
9.243.912
1,717,258
1,613,090
1,391,879
1,320,555
700,039
.635,675
327,171
324,609
5.341.466 4,837,141
153,324
3.387,002
.
Jan
.
328,314
107,511
2,840,346
.
.....
908,238
85,455
5,793,706
347,792
1.553.465
2,670,768
2,083,565
46,050,290
16,214,972
62,625,262
2,140,060
10,238,050
3,093,612
11,761,011
.
N Y Central St Hudson Rlver.e. Jan
Lake Shore &
Michigan South Jan
Lake Erie St Western.n
Jan
Railroad
i
.
3,984,168
3,003,596
6,987,764
2,575,535
91,994
5,717,883
134,735
132,542
506,205
505,887
10 249/
8,882
3d wk Aug
24,183
26.184
3d wk Aug
99,186
95,295
July
7.822,609 7,818,585
July
154,642
145,727
July
497,394
403,882
July..
2,719,750 2,550,010
June!.
729,616
612,813
May
741,148
595,340
June
15,110
16,380
July
807,830
726,167
Various Fiscal Years.
Pennsylvania
4,021,040
2,062,207
6,083,247
2,968,612
1,024,220
4th wk Aug
June
Mileage.
+267,384
+321,534
+475,570
+250,967
+100,016
+210,955
-r-143,027
—439,558
—364,476
—204,127
3,984,168
3,003,596
6,987,764
EARNINGS—Weekly and Monthly.
I
3d
Aug
Southern Pacific
Southern Railway
Mobile & Ohio
Mississippi Central. July
nm
_
.
3,824.603
90,341
83,287
90,341
83,287
n Mo Kan & Texas. 4th wk
Aug
950,582
990,333 5.456,261 4,975,153
x Missouri Pacific.. 4th wk
Aug 1,786,000 1,835,000 10,344,182
10,795,608
Nashv Chatt & St L July
1,027,198 1,044,196 1.027,198
1,044,196
a Nat
Rys of Mexf. 3d wk Aug
652,132 1,116,203 4.631.663
8.613,759
N evada-Cal-Oregon 3d wk Aug
9,333
66,469
77*444
N O Mobile A Chic. Juna
166.074
2,490,052 2,002,728
New Orl Grt North. May...
176,217
1,639,528
1,489,825
»NYO & Hud Riv. July
(9.265,907] 10,104,811 9.265.907
Lake Shore & M S July
4,444,170 4.960,827 4,444,170
* *■ n Lake Erie & W
496'
July
459.766
495,038
459,756
Chic Ind & South July
320.994^ 305,947
320,994
305,947
^Michigan Central July
(2,906.087 2,699,237 2,966.087
2.699,237
V ClevO C & St L.
July....
3,002,283 [2,602,070 3,002,283
*
2,602,070
Peoria & Eastern July
263,737
263,237
263,737
263,237
^Cincinnati North July
112,966
107,453
112,966
107,453
»Pitts & Lake Erie July
1,742,129 1,667,265 1,742,129
1,667,265
N Y Chic & St L_
July
952,877
861,342
952,877
861,342
^- Tol & Ohio Cent- July
586,886
483,858
686,886
483,858
Tot all lines above
July
25509235 23160241 25,509.235
23,160,241
NYNH& Hartf- June
5,415,752 5,827,210 68,613,503
64,933,065
.
.
St Louis Southwest- 4th wk
Aug
San Ped LA&SL. June
Seaboard Air Line.. 3d wk
"
531,378 •4,331,210
_
_
1.561,527
37,168
146,600
..
St Louis & San Fran June
f Chic & East Ill- June
Total alllines
June
$
21973665 23,382,708 21,973,665
.
..
974.067
328,209
338,926
7,508,171
2,110,542
704,015
5,357.908
1,272,000
1,270,894
..
..
_
Previous
Year.
11133771 11.719.781 11,133,771
33107436 35,102,489 33,107,436
1,347,978 17,406,755 16,676,428
_
9,608,283
380,397
7,508,171 6,468,921
'
Iowa Central
6,749,917
'
Louisiana & Arkan. June
127,092
135,241
s Louisv & Nashv.
3d wk Aug 1,148,790
1,094.130
jMacon & Birm'ham July
10,230
14,739
Maine Central
July
998,782
901,129
Maryland
4,021,040
2,062,207
6,083,247
259,219
75,787
Rio Grande South.
3d wk Aug
14,953
Rock Island Lines.
July
5,793,706
Rutland
July
347,792
St Jos & Grand Isl'd June
121,425
St L Iron Mtn & So
July
2,670,768
St L Rocky Mt & P
May
199,178
_.
Coal & Iron Co..
July
Total both cos
July
Rich Fred & Potom June
Rio Grande June
May
Current
Year.
5
23382708
11719781
35102489
1,309.768
July...
All East &West
July...
Pere Marquette
/June _.
Reading Co—
Phila & Reading. July
1,435,384
1,292,997
127,873
1,929,552
1,827,361
931,268
819,769 10,071,297
9,825,321
127,695
133,273
1,828,335
1,830,166
311,745
282,107 2,095,878
1,835,353
18,596
17,687
240,851
196,751
28,014
30.204
414,019
308,573
324,187
334,393
324,187
334,393
1,953.503 2,275,294 23,999,532 21,142,929
3,392,183 3,251,840 40,518,045 35,492,527
726,000
736,300 4,269,500 4,230,500
218,500
196,600 1,232,500 1,076,100
40,846
30,985
244,416
211,273
137,407
138,475 1,673,286
1.762,327
26.698
26,440
188,524
181,185
1,052,769
953,235 7,121,719 6,6*4.438
80,783
68,382
554,646
521,312
1,149,451 1,154,545 13,350,782 10,720,752
691,680
655,801. 8,657,716 7,613,456
5,538,223 5,381,558 5,538,223 5,381,558
86,442
85,566
988,324
932,168
304,150
352,783 5,037,056 4.432,304
229,057
249.932
229,057
249,932
107,769
865,606
Illinois Central
July
5,357,908 5,097,005
Internat & Gt Nor. 3d wk Aug
187,000
195,000
a
Vandalia
July...
Total Lines
East Pitts & E
July...
West Pitts & E__
.
July
'4th wk Aug
4th wk Aug
Salt Lake 3d wk
Aug
\
"
142,830
June
Colorado Midland. June
6 Colorado & South 3d wk
Cornwall
June
Erie
7,483,778
July...
July...
July...
Northern Centra! July...
.....
,
987,904
977,781
987,904
977,781
292,018
291,630
292,018
291,630
293,062
300,692
3,608,666 3.284,822
3,742,889 3,457,322 43,739,921 39,375,237
6,072,500 5,750,356 66,072,500 95,750,356
352,850
326,913
3,709,766 3,499,100
709,765
657,817
7,945,931
7,496,9412
15937780 14666735 15.937.780 14,666,735
45,578
40,211
45,578
40,211
287,202
261,319
287,202
261,319
1,507,267 1,317,864
1,507,267
1,317,864
18,643
18,360
18,643 •.
18,360
412,562
354,911
412,562
354,911
1,111,715 1,062,911
1,111,715
1.062.911
1,786,010 1,819,920
1,786,010
1,819,920
835,686
844,014
835,686
844,014
6,213,635 5,994,821
6,213,635
5,994,820
497,594
468,89:
497,594
468,898
3,815,486 3,608,011
3,815,486 3,608,011
980,884
881,364
980,884
881,364
...
_.
Norfolk Southern.. June
.....
June
July
Susq & West— July
.
July 1 to Latest Date.
Previous
Year.
Year.
$
......
July
July
"
Current
or
$
361,559
319,616
361,559
319,616
July
148,815
150,045
148,815
150,045
Vicks Shrev* Pac July
147,320
134,439
147,320
134,439
Ann Arbor.
3d wk Aug
50,484
47,089
340,606
330,312
Atch Top & S Fe___
July
9,142,986 8,959,969 9,142,986
8,959,969
Atlanta Birm & Atl June
232,584
220,248 3,243,046 3,246,302
Atlantic Coast Line July
2,457,152 2,467,757 2,457,152 2,467,757
Chariest & W Car June
132,675
120,257
1,895,999
1,933,896
Lou Hend & St L June
103,506
94,542
1.231,483
1.279.469
g Baltimore & Ohio. July
8,838,810 8,052,885 8,838,810 8,052,885
B & O Ch TerRR June
150,022
141,895
1,794,351
1.557.470
Bangor & Aroostook June
273.157
234,218 3,255,936
3,345,241
Bessemer & Lake E June
1,058,468 1.049,053
9,012,362
8,457,266
Birmingham South- June
113.158
93,107
1,276,628
691,965
Boston & Maine
June
4,048,654 3,971,921 48,513,507 45.990,364
Buff Roch & Pittsb 4th wk
Aug
382,531
357,005 2,205,613
1,997,935
Buffalo & Susq.
June
210,382
180,523
2,482,516
2,313,084
Canadian Northern. 4th wk
Aug
573,000
563,800 3,753,600 3,575,500
Canadian Pacific.
4th wk Aug 3,345,000 3,809,000
23,055,062 23,938,398
Central of Georgia. July
1,005,290 1,128,625 1,005,290 1.128.625
Cent of New Jersey June
2,407,234 2,511,964 28,405,757 25,887,738
Cent New England. June
297,327
301,606 3,708,971 3.468.626
Central Vermont..
May
358,935
335,284 3,824,956 3,732,915
Ches & Ohio Lines
3d wk Aug
716 324
724 682
4 939 184
4 961 952
Chicago & Alton
3d wk Aug
341,844
311,505 2,325,666
2,165,317
Chic Burl &
Quincy June.
7,495,788 6,884,366 94,374,486 86,723,068
p Chic Great West. 4th wk
363,805
Aug
357,926 2,476,743 2,309,145
Chic Ind & Louisv
4th wk Aug
215,820
223,815 1,231,069
1,175,874
Chic Milw & StP.l June
7,631,916 6,799,651 94,084,055 79,255,356
Cornwall & Leban
Cuba Railroad
Delaware & Hudson
Del Lack & West..
Deny & Rio Grande
Western Pacific.
Week
Month.
.
Chic Mil & PugS/
fChic & North West
eChic St Paul M &O
Chic Terre H & S E
Cin Ham & Dayton
page.
Latest Gross Earnings.
'
can
Sept. 6
661
CHRONICLE
THE
1913.]
Net Earnings—
Previous
•
Gross
final statement covers 42 roads and shows
1.29% decrease in the aggregate under the same week last
Decrease.
$
$
$
$
Previously reported (37 roads). 15.022,042 15.307,218
47,089
50,484
Ann Arbor
311,505
341,844
Chicago & Alton
44,106
41,174
Georgia Southern & Florida
146,600
197,400
Mexican
Railway, i.
9,886
9,333
N evada-California-Oregon
15.662,277 15,866,404
765,589
480,413
3,395
30,339
564,947
Total (42roads)
Net decrease (1.29%)
"
2,932
50,800
———
Current
Year.
Year.
Year.
""553
169.074
204,127
——
Blackstone Val G & E.a.July
Jan 1 to July 31
101,117
744,990
$
95,399
680,203
Edison El Ill(Brock)_a-July
Jan 1 to July 31-
31,740
250,912
28,308
217,705
Fall River Gas Wks.a—July
Jan 1 to July 31
38,740
270,829
36,669
[253,882
Great Western Power.a.July
Jan 1 to July 31
Increase.
1912.
1913.
Previous
Companies.
of August our
Third week of August.
Earnings—
Current
week
Earnings by Weeks.—For the third
Latest Gross
Net Earnings
Current
Previous
Earnings
Current
Previous
Gross
•
.
.
Roads.
.
Year.
Year.-
Year.
Year.
,
2,467,757
335,328
398,590
Chesapeake & Ohio.b—July 2,861,884
2,801,974
884,686
864,834
July 1,328,269
1,435,384
1,230,611
S311.165
S337.417
1,292,997
313,246
229,057
249,932
18.253
Grand Trunk of Canada—
Grand Trunk Ry
July
3,973,497
3,686,374
572,787
1,026,831
80,297
18,979
62,534
892,029
71,051
13,626
87,110
Georgia Railroad, b
632,158
207,313
West..July
Milw.July
Canada Atlantic-.---July
Grand Trunk
Det Gr Hav &
185,414
197,094
228,969
July
704,015
690,036
244,692
260,063
plnteroceanic of Mexico.July
729,502
826,821
239,838
246,643
Louisville & Nashville.b.July 4,925,194
4,501,175
1,162,536
1,101,255
998,782
961,129
252,581
250,727
742,787
738,978
hl94,439
M95.827
M.4.July 1,746,602
Division.a-.July
946,918
1,496,517
Hocking Valley, b
Maine
July
Central.b
Minneap & St Louis.a.-July
Chicago
478,754
278,017
497,931
866.308
Minn St Paul & S S
2,656,009
2,283,431
5,183,953
1,472,012
1,027,198
159,305
N Y Cent & Hud Riv.b-Julyl0,104,811
Jan 1 to July 31
65,967,048
9,265,907
59,737,780
Lake Shore & M S.b.July 4,960,827
4,444,170
1
Jan
■
s
earnings
were
$
208,044
^
180,951
164,607
132,295 "
138,151
J*4 60,585
xdef30,828 *def32,667
1,506,549
*112,753"
*109,634
Missouri^ Pacific. _ _ _ .—JulyJL ,524,239
N Y Ontario &
St Louis
647,987
S„July
*""*
*22,234
226,261
242,971
Southwestern—July
—Int., Rentals,
&c.
—Bal. of Net Earns.-
Current
Companies.
T;;
Previous
Current
Previous
Year.
Year.
Year.
Year.
.
$
&
Abington
Rockland Elec
188
1,404
354
1.313
111,619
5,717
8,949
62,155
21,136
184,125
16,780
127,337
2,265
15,863
.1,919
13,573
7,498
76,788
7,055
68,431
685
4,480
9,749
'78,720
11,228
66,653
■
360
Light & Power
—July
Jan 1 to July 31
Blackstone Val G & El.- July
Jan 1 to July 31
2,253
.
■J
16,537
114,425
799,972
5,005,550
Fall River Gas Works.-July
Jan 1 to July 31
—
1,214
6,075
Great Western
Power.-July
95,816
664,167
1
Jan
to
Jan
1
to
to
1
1
674,132
3,585,960
263,737
1,908,815
71,010
386,778
Houghton Co Elec Lt—July
Jan 1 to July 31
112,966
727,997
107,453
724,207
def9,298
def25,380
13,676
22,187
Lowell Elec Light Corp.July
Jan 1 to July 31--
July 31
Erie.b-July 1,742,129
1,667,265
July 31——11,690,954
9,737,701
798,612
5,512,887
893,050
4,555,289
L_b—July
952,877
31—— 7,077,054
861,342
6,588,613
128,254
1,352,610
148,458
1,587,988
483,858
2,902,913
139,229
784,280
136,901
658,675
to July
to July 31
1
to
586,886
3,315,655
7,052.054
6,211,029
July25,509.235 23,160,241
July 31——170,210,409 151629,554 42,580,782 39,759,282
Total all lines, b.
Jan
-
-
-
4,968,061
July 2,723,477
Y Ontario & West.a.July
987.904
'45,308
1,300,438
353,925
291,630
64,370
53,353
July 6,072,500
5,750,356
2,076,982
2,097,522
Western.a.July
Pacific.b-
3,967,851
4,081,264
14,666,735
Jan
105,191,200 96,696,849 22,177,427 21,952,134
10,300
12,887
40,211
Bait Ches & Atlan.b-July
45,578
10,318
14,578
152,884
Jan 1 to July 31—
174,402
RR.a.
1 to July 31
Pennsylvania
-
-
1
July 31--
to
-
July15,937,780
77,418
91,915
261,319
Cumberland Vall.a—July
287,202
Jan 1 to July 31.
2,051,593
1,795,623
627,198
512,815
Long Island.a—-—July 1,507,267
Jan 1 to July 316,880,561
1,317,864
6,235,931
626.470
1,442,203
Maryland Del & Va.aJuly
Jan 1 to July 31——
18,643
78,960
18,360
67,248
def2,206
def27,302
N Y Phila & Norf.a—July
412,562
2,324,016
354,911
2,051,056
109,531
484,633
Jan
1,111,715
31—— 7,612,544
1,062,911
7,073,513
96,523
371,909
128,232
358,445
186,243
1,452,367
\ 371;325
1,870,716
Jan
1 to July 31
to July
1
1
to
July 31
V
1,819,920
1,786,010
-12,112,288 11,322,517
998
844,014
3,534,851
284,321
367,776
347,284
5,994,820
Pennsylvania Co.a
-.July 6,213,635
«.
Jan 1 to July 31.37,336,285 33,494,543
468,898
Grand Rap & Ind.a.-July
497,594
2,964,616
Jan 1 to July 31
3,077,115
1,671,919
6,119,904
1,970,317
W Jersey & Seash.a—July
Jan 1 to July 31———
835,686
3,482,403
76,088
249,969
•
Pitts Cin Ch & StL.a.July 3,815,486
Jan 1 to July 31
24,980,684
3,608,011
23,866,391
-July
980,884
July 31-^-—
6,256,288
881,364
5,701,072
Vandalia
1
Jan
..a
to
568,746
.
7,656,339
92,889
322,182
677,941
896,955
2,738,154
5,430,828
202,209
173,387
784,101
846,458
r
5,856,572
5,621,980
Tot East of P & E_a-July23,382,708 21,973,665
Jan 1 to July 31—
148,060,049 136890,669 27,213,561 27,557,696
3,144,521
2,646,366
Tot West of P & E.a.July 11,719,781 11,133,771
Jan 1 to July 31
73,049,583 67,274,200 10,013,515 14,406,730
9,001,092
8,268,346
July35,102,489 33,107,436
Jan 1 to July 31
221,109,632 204164,869 37,227,077 41,964,428
1,576,332
1,216,795
5,717,883
Rock Island Lines.b—July 5,793,706
96,868
92,691
328,314
Rutland--b.
July
347,792
445,280
369,938
1,945,601
Jan 1 to July 31
2,059,538
Total all lines.b
♦
*
After allowing for
St
Louis
Southw.a
Seaboard Air Line.a
EXPRESS
•
Northern Express Co.—
Gross receipts from operation
..
Net
operating revenue
One-twelfth of annual taxes.
32,299
4,500
Operating income.—-
27,799
Week
1912.
$
1
'
2,681,792
1.446,241
1,336,065
1,014,958
1,235,550
4,500
321,106
49,500
257,078
49,500
28,356
271,606
207,578
-
C leve Painesv & East June
Cleve Southw & Col- July
Columbus (Ga) El Co July
Coney Isl & Bklyn_». May
Dallas Electric. Corp. July
Detroit United Ry__ 1st wk Aug
—
251,799
96,065
97,690
Earnings—
Current
Previous
Gross
Earnings—u
Year.
Year.
$
-Net
Current
■
8,752
61,013
1,764
13,872.
Previous
Year.
$
542
7.030
Year.
|
450,606 2,917,570 2,739.107
193,160
204,780
47,559
681,114
720.450
159,261
324.157
349,821
61,590
83,987
88,117
12,479
257,069
308,601
58,157
11,690,678
2033,211 1748,039 13,586.098
66,846
70,349
15,476
16,883
2203,201 2104,914 9,707,370 9.477,602
194,131
207,168
33,116
32,543
498,559
595,007
89,470
101,635
175,985
188.540
40,935
40,989
650,791
695,716
110,448
120,558
305.249
337,408
45,549
48,875
550,336
590,831
138,620
153,433
986.017
1,203,556
144,534
175,352
111,514
96,044
88,007
622,112
564,031
52,675
49,863
1,886,649
65,551
El Paso Electric Cos. July
42d St M & St N Ave May
166,869
Galv-Houst Elec Co. July
228,910
Grand Rapids Ry Co June
Harrisburg
Railways July
Havana El Ry, L & P
1
Wk Aug 31
(Railway Dept)
Honolulu Rapid Tran
& Land Co
Traction
June
July
260,299
656,099
1,148,857
432,217
771,491
704,990
1,341,159
1,103,634
591,877
525.158
1,696,826
273,504
305,959
45,728
50,039
175,398
180,392
30,784
31,757
1.558,755
1,607,003
320,358 308,808
189,313
199,471
36,425
34,772
4,415,930 4,143,340
584,681
626,882
2341,827 2267,409 19,102,525 18,662,878
350,268
388,628
49,248
57,130
587,251
626,502
120,914
127,571
153,606
August
June
May
July
Milw Lt Ht & Tr Co. July
Monongahela Val Tr_ July
Nashville Ry & Light June
6,662,002
"
Interboro Rap Tran. July
Jacksonville Trac Co July
Lehigh Valley Transit
Lewis Aug & Waterv.
Long Island Electric.
Milw El Ry & Lt Co.
7,680,132
248,877
717,197
1,261,966
504,563
229,356
54,224
106.66S
194,426
59,620
161,194
180,558
107,237
206,491
Lake Shore Elec Ry. June
INDUSTRIAL COMPANIES.
Previous
Year.
East St Louis & Sub. June
Idaho Traction Co__ June
246,972
Current
Year.
Duluth-Superior Trac July
Illinois
776,818
COMPANIES.
Jan. 1 to latest date.
Previous
260,982
53,001
121,090
D D E B & Batt(Rec) Muy
Houghton Co Tr Co. July
Hudson & Manhattan May
374,260
Earnings.
978,471
$
364,177
820,467
32,856
490,472
40,743
168,721
60,780
13,774
65,721
July
July—
c Aur Elgin & Ch Ry_ May
Bangor Ry & Elec Co June
Baton Rouge Elec Co July
Belt Line
May
Brazilian Trac, L & P July
Brock & Plym St Ry_ July
Bklyn Rap Tran Syst May
Cape Breton Elec Ry July
Chattanooga Ry& Lt June
428,835
432,289
•
89,389
Year.
American Rys Co
Atlantic Shore Ry
1,738,490
'>■
v
Current
or
Month.
1,083,397
11,061
75,950
$
of
Road.
July 1,812,213
Southern Railway—
Cin N O & Tex Pac.b.July
Latest Gross
Name
July 1,034,060
Year.
l1913.
2,898,454
1,562,388
ELECTRIC RAILWAY AND TRACTION
331,302
Companies.
—July 1 to May 31—
122,245
124,496
92,196
792,755
Abington & Rockland Elec
Light & Power..a..-July
Jan J to July 31
184,943
267,828
145,582
266,291
141,795
Total operating revenues-
Total operating expenses
175,369
Ala Great South, b—-July
8,658
72,316
"28,235
COMPANIES
-—Month of May
1912.
1913.
$
$
Express privileges—Dr
758,491
•
184,881
4,236
46,206
other income received.
2,840,346
St Louis Iron Mtn & S a July 2,670,768
'/ 94,144
""23,694"
37,874
41,396
—
4
Phila Bait & Wash.a.July
Jan
10,829
1,573
11,000
"5,386
237
1,853
6,136"
Electric—July"
1 to July 31
110,341
507,212
Jan
5,817
53,031
~
Sierra Pacific
def21,531
Northern Central.a--July
*473,842
4,105
27,005
4,187
27,402
-
,558,407
1.177,644
....
■_
*65,542
418,035
977,781
292,018
?
Northern
Jan
-
pNat Rys of Mexico
N Y Susq &
—
7,498
190,272
Toledo & Ohio Cent.b.July
Jan
to
206,645
1,888,280
N Y Chic & St
Jan
1
263,237
1,769,684
Pitts & Lake
1
Jan
2,602,070
17.296.885
Cincinnati North.b-.July
Jan 1 to July 31——
Jan
(Brockton) July
July 31
Edison El 111
July 31— — -18,966.160
Peoria & Eastern.b-.July
*160J>84
INDUSTRIAL COMPANIES.
666.807
Clev Cin Ch & StL.b-July 3,002,283
;
121,184~"* 236,850
296,851
656,599
*140,820^*156,979
Western-July"" 117,075
St Louis Iron Mtn &
Previous
Year.
198,588
-July
Railroad
$
60,458
Chic St P Minn & Om-July
Georgia
Year.
656.790
686,098
July
Chesapeake & Ohio
5,442,682
to July
of Net Earns.—*
Current
$
2,699,236
Michigan Central.b--July 2,966,089
Jan 1 to July 31
-.20,671,224 17,936,629
1
v
Year.
:'iv!Ek Year.
Roads.
54,354
374,593
Jan
N
-Bal.
-Int., Rentals, &c.—
Current
Previous
47,883
459,079
Chic Ind & South.b-_ July
_
and Surplus.
Interest Charges
305,947
2,331,737
31
to July
July 1913, total
the month of
against $294,897 last year. *
July 1913, total net earnings were $265,494,
93,291
570,691
78.745
605,389
operating income for
miscellaneous charges to income for
320,994
31—— 2,518,422
1
i.
additional income for the month of
$213,114, against $195,528 last year.
After allowing for
459.756
3,133,316
Jan
33,621
222,817
deducting taxes.
495,638
3,371,894
Lake Erie & West.b-.July
10,231
83,316
.
These results are in Mexican currency.
g
1,475,230
9,218.830
1,602,447
33,995,181 29,490.089 10,325,510
31
to July
2,691,980
2,544,207
16,045.173 13,792,941
29,830
226,277
h After allowing for
net
232,182
Nashv Chatt & St L.b.-July
53,241
361,807
8,341
73.211
given are before deducting taxes.
1,449,094
1,044,196
Missouri Pacific.b
11,913
71,133
.
257,524
July 5,137,170
Missouri Kan .& Tex.b.July
31,044
237,095
c After allowing for outside operations and taxes,
July 1913 was $615,748, against $425,731.
C525.579
C732.405
&
51,809
375,871
19,068
Chicago & Alton.a
Chic St Paul M&Oma July
82,004
11,060
95,997
Net earnings here given are after
b Net earnings here
302,759
July
2,457,152
Atlantic Coast Line.a,-July
•Z?
10,963
84,795
a
10,004
80,433
34,458
Sierra Pacific Elec.a—July
Jan 1 to July 31
a
ii. 92,651
257,585
.
—
Net Earnings Monthly to Latest Dates.—The table
following shows the gross and net earnings of STEAM rail¬
roads and industrial companies reported this week:
189,492
298,550
9,763' TT 8,974
_
145,664
1,037,213
173,925
Lowell Elec Lt Corp.a.July
Jan 1 to July 31—
s
25,729
37,673
20,361
165,406
21,733
Houghton Co Elec Lt.a. July
Jan 1 to July 31
Year.
:
$
223,348
1,540,253
$
.
64,292
21,169
478,743
150,541
133,972
59,237
1,088,656
18,466
453,467
132,026
79,821
83,406
3,444,084
797,435
523,063
167,167
1,071,614
'
J
80,997
179,176
303,419
929,549
269,778
73,515
3,236,281
684,651
662
CHRONICLE
THE
Latest Oross Earnings.
Name of
[Vol.
Jan. 1 to latest date.
Week
Current
Year.
or
Month.
Previous
Year.
Current
$
Northam Easton &. W
North Ohio Trac & Lt
North Texas Elec Co
Northw Pennsylv Ry
June
July
July
July..
Ocean Electric (L I). May
Paducah Tr & Lt Co. July
Pensacola Electric Co
Phila Rap Trans Co. July
Port (Ore) Ry L& POo June
June
Portland(Me) RR
Puget Sound Tr L & P June
Richmond Lt & RR. May
Jujy
.....
St Joseph (Mo) Ry ,Lt,
Heat & Power Co. June
100,513
39,149
71,126
92,230
19,359
26,110
Santiago Elec Lt & Tr July..
Savannah Electric Co July
Second Avenue (Rec) May *
Southern Boulevard.
Staten Isl'd MidlandTampa Electric Co..
Third Avenue
May
May
July
May
...
Twin City Rap Tran. 3d wk Aug
Underground Elec Ry of London
London Elec Ry__ Wk Aug 23
Metropolitan Dist. Wk Aug 23
London Gen Bus.
Wk Aug 23
June
Yonkere Railroad
York Railways
Youngstown & Ohio.
Youngstown & South
c
50,450
51,072
193,214
65,544
78,041
20,199
218,513
May
July
66,898
66,817
21,136
17,308
June
July
$
16,883
70,349
15,476
66.846
Plymouth, a-.July
to July 31——
to
32,543
207,168
July
July 31-
— -.
1
1
to
Harrisburg
Jan
1
155)316
144,534
986.017
74,057
485,912
1
1,107,§20
404,209
2,466,417
504,563
59.620
432,217
29,581
230,471
Jan
180,558
1,103,634
107,768
569,737
31,757
180,392
100,745
30,784
175,398
15,759
•71,718
July
6,767
45,316
44.641
-July
22,755
148,316
16,313
112,121
July
4,531
32,589
4,364
31,037
180,222
.July
101,575
1,164,734
90,962
1,111,074
95,938
1,207,612
95,480
943,583
219,565
1,556,138
225,373
1,578.008
*72,988
*590,534
*77,270
*568,671
584,681
4,143,340
247,421
1,766,530
July 31
1
to
July 31
1 to July 31
...
49,248
350,268
21,195
138,350
12,026
145,748
3,611
53,018
200
259
26,477
174,246
,
Company, New York.
Horne, Montreal Aug. 20, wrote:
profits from
the Jatibonico sugar mill apd plantations
$418,309; from the Jobabo mill and plantations $305,084; from the
land department (chiefly from townsites), $55,836.
Adding the dividends of
$400,060 from the Cuba RR. stock in your treasury, and deducting in¬
terest and general expenses, the surplus was $771,520.
•
The prices for the raw sugars of the past crop,were extremely
low, owing
largely to the uncertainties of the pending tariff changes in the United
States; but they have, since the beginning of July, considerably improved,
and a further
improvement is expected.
The unsold sugar and molasses
have been taken into account at prices prevailing at date of this
report.
Outlook.—-The company's sugar mills are most modern, and, with aver¬
age prices for sugar, handsome results may be looked for;
Extensions.—'The results of the doubling of the Jatibonico mills encour¬
aged your directors to undertake the doubling of the Jobabo plant, and this
will be completed in time for the coming grinding season
(V. 97, p. 236).
Cuba RR.—Your company received on May 1 1913 a dividend of 4% on
the $10,000,000 of common stock of the Cuba RR, Co. in your treasury.
The dividend on this stock will, we believe, be continued and increased.
The railroad is in excellent condition and its traffic and profits are
growing.
For the
year
rapidly
its surplus after its fixed charges and dividends
on
its preferred stock was $814,280, or the equivalent of 8.14% on its com¬
mon stock.
(See report below)
Land Department.—Our townsites, including the terminal town of An-
tilla, are already contributing materially to revenues, and
be counted among your most valuable assets.
certainly
may
319,132
1,816,369
297,235
1,674,570
133,945
702,725
723,744
Nor Texas Elec Co.a—July
Jan 1 to July 31
180,931
1,190,225
146,289
941.633
79,834
524,168
69,362
424,137
Northwestern Penn Ry.July
Jan 1 to July 31
41,151
203,251
36.621
182,729
17,352
51,343
14,988
45,559
8,062
50,873
8,862
48,773
8,902,
55,586
Settlement Stock.—The old account between your company and the Cuba
RR. Co., amounting to $103,390, relating to the original contract between
4,753
61,025
60,100
Nor Ohio Tr & Lt.a
1
July
to July 31
Paducah Trac & Lt.a.-July
Jan 1 to July 31
the companies, has been settled on the basis of an equal division and the
the common stock of the Railroad Co., $3,874,000, has been
remainder of
delivered to your treasury.
Floating Debt.—The item bills payable in the balance sheet represents
bank advances on the large amount of sugar and molasses on hand at June
30.
The greater part of the sugar and all of the molasses are now sold.
New Preferred Stock.—We start the new year with a practically clean bal¬
139,239
23,988
162,794
22,874
161,012
July
24,545
24,389
; to July 31-——
163,111
162,552
71,126
473,710
61,406
424,427
25,119
153,127
71,406
63,183
433,282
31,529
212,811
sheet.
The proceeds of the $2,500,000 of the new pref. stock, which
off the Jobabo notes, recoup the treasury for the'
expenditures already made for the doubling of the Jobabo mills and for the
increased plantings of cane and cover the completion of these works, and
at the same time afford an adequate working capital which will enable
the future profits to be applied to dividends.
(See V.97, p. 236, 364.)
ance
has all been sold, will pay
16,513
112,380
30,841
205,283
Elec.a..
Savannah
Elect.a——July
Jan 1 to July 31——,
Tampa Elect.a
to
....July
July 31
.
467,107
•
'
9,697
INCOME ACCOUNT FOR YEAR ENDING JUNE 30.
1912-13
Gross.
Sugar, molasses, &c_.
Land dept. (town lots, &c.)
United Light &
Rys Co—
(Subsidiary Cos)
July
499,582
Aug 1 to July 31
5.759,876
to July 31
—
Youngstown & Sou Ry.July
Total
438.634
5,082,882
197,514
2,372,346
186,442
2,054,657
Div. received
1,044,441
6,988,825
285,939
2,096,190
297,057
2,111,763
Total net
17,308
16,607
7,668
6,448
..
Net earhings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
c Including earnings from May
1 1913 only, on the additional stocks
acquired as of that date.
a
on
—1911-12-
Net.
1
Gross.
85,736
...
55,836
83,408
44,920
$2,847,413 $779,229 $2,461,158 $724,965
Cuba RR. stock
400,060
——
—$1,179,289
Interest on debenture bonds & notes——$312,000
General interest
71,696
General
—
Net.''
—$'2,761,677 $723,393 $2,377,750 $680,045
-
-
1,065,928
7,287,650
-
United Rys of St L.a—July
1
26,998
(Report for Fiscal Year ending June 30 1913.)
Pres. Sir William Van
16,147
123.863
1
3,319
15,459
2,364
4,811
allowing for other income received.
Results.—The
1,043,308
11,007
141,851
Pensacola
def 278
2,135
10,270
Y
1,670
def 126
were
224,401
57,130
388,628
Jan
to
Elec
The Cuba
1,582.931
1,133,311
Key West Elec Co
June
July 1 to June 30——
Jan
1
After
/
71,215
Jacksonville Trac.a—-July
Jan 1 to July 31-——-
Jan
—
Elec
479
,
Interboro
Jan
48,505
278,210
357,854
Annual Reports.—An index to annual
reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month.
This index will
not include reports in the issue of the "Chronicle" in which
it is published.
The latest index will be found in the issue
of Aug. 30.
The next will appear in that of Sept. 28,
16,149
2,267,409
.July
6,378
31
88,947
410,527
55,668
ANNUAL REPORTS.
30.506
150,276
88,007
525,158:
564,031
July 31
7,192
49,051
to July
73,597
299,271
July
*
80,002
444,076
20,596
96,044
626.882
4,415,930
to
7,853
50,999
1
50,292
887
18,357
:
*
"
Rap Tran.a.July 2,341,827
1
20,857
145,927
'
United Rys of St Louis. July
Jan 1 to July 31
23,293
193,636.
Illinois Traction.a
24,166
166,314
(Subsidiary Cos)
Aug 1 to July 31
374,207
2,269,777
to July 31-——
313,217
Electric.—July
Texas
Jan
55,695
362.387
.
60,348
403,454
United Light & Rys Co—
22,272
148,118
27,471
6,498,388
July
42.688
July
Jan
79,100
1,125,720
65,551
Rys
to July 31-
6,338
56,435
1,022
22,646
July 31
Tampa/Elect
16,142
79,402
1,209,689
Houghton Co Trac.a_.July
Jan
14,928
85,938
El.a."—July
228,910
July 31—... 1,341,159
Galv-Houston
8,220
59,746
3,866
Jan
6,006
45,549
305,249
July
9,809
67,428
2,589
30,362
Savannah
15,539
7,485,926
July 31
to
El Paso Elec.a
Jan 1 to July 31
Jan
:■
6,706
14,315
175.352
1.203,556
July
— —
Detroit United Ry.b.—July
Jan
33,919
,
48,875
337,408
"
12,975
78,604
to
5,676
Pensacola
4,378
33,455
82,338
C199.609
1,190,738 cl .685,838
& L aJ'ly C205.169
"Y Aug 1 to July 31
.cl,778,346
Dalias Elec Corp.a
Jan 1 to July 31
5,253
33,116
194,131
Com'w'lth Pow Ry
Columbus (Ga) Elec a—July
Jan 1 to July 31———
July
1
$
Brock
1
10,473
32,428
*151,276
Year.
$
♦
Jan
10,130
32,231
*243,705
326,740
Previous
Year.
,
12,479
83,987
Cape Breton Elec.a
38,787
919,036
Jan
Earnings
Previous
Year.
Current
Year.
13,774
88,117
1
39,487
931.612
to July 31
1
Paducah Trac & LtJan 1 to July 31
16,6071
Baton Rouge Eloc.a—July
Jan 1 to July 31
&
5,629
El
6,988,825
214,8
1,258,621
287,113
403,042
110,170
$
Jan
46.501
206,976
July
Nor
227,964
424,427
371,559
50,369
91,916
433,282
1,549,731
5,111,573
432,435
115,676
-Net
17.416
146,714
73,299
July 31
Nor Ohio Trac & Lt
Jan 1 to July 31
567,156
1,424,752
261,794
Earnings—
Current
27.070
210,918
33,501
273,100
Jan
Electric Railway Net Earnings.—-The
following table
gives the returns of ELECTRIC railway gross and net earn¬
ings reported this week:
——Gross
5,877
46,922
Key West Elec Co
.June
July 1 to June 30
These figures are for consolidated company.
Roads.
2,511
19,553
to
Jacksonville Trac
431,137
4,084,569
128,648
212,176
$724,965
$270,000
39,289
revenue
expenses—————
24,073
4,150
16.062
$771,520
$395,464
—-
Balance, surplus.
——-
GENERAL BALANCE SHEET FOR YEAR ENDING JUNE 30.
Interest
Current
Roads.
Year.
&c.—
Previous
Year.
$
Baton Rouge Elec
.July
Jan 1 to July 31—
Brockton & Plymouth., .July
Jan 1 to July 31..
feu
Cape Breton Elec
1913.
Charges and Surplus.
—Int., Rentals,
5
2,082
Year.
$
14.200
1,729
12,112
3,171
19.719
2,649
21,343
1,117
7.746
1,050
7,360
5.589
6.569
4,956
8,179
.July
6,082
42,304
5,703
39,719
8.846
43.634
10,439
39,683
Com'w'lth Pow Ry&Lt. .July
49,166
171,490
6.771
20.969
150,443
1,514,348
72,329
1,104,751
24,222
120,186
12,926
96.288
3,249
,35.130
9,346
51,830
Jan
1
to
July 31..
Aug 1 to July 31—
Columbus
fa*
Jan
(Ga) Elec... July
July 31..
1 to
Dallas Elec Corp
July
fete
Jan 1 to July 31—
——
24,852
169.742
Detroit United Ry—
July
181,443
Jan 1 to July 31—
1,257,551
"
•
—
•
24,666
164.007
49,205
316.170
31,029
198,380
176,301
*241.837
*215,142
1,242.328 *1,346,370 *1,145,05$
$
CubaRR.pref.atk.
1,000
do
com.stk_10,000,000
3-yr.
(due on contr't)
2,733,709
Jababo mill, &c_. 2,108,205
Land department.
865,312
Jatibonico mill,«fcc.
mill
Mat'l & supplies..
Office
furniture
Sundry accounts..
Cash on hand..—
Individuals &
cos.
420
Unclaimed wages.
2,308
29,443
449,297
Int. due & uncl'ed
90
6,690
114,206
120,090
18,773
Interest accrued..
24,000
77,668
768,225
73,678
& cos..
Sugar & molasses.
Sundry
accounts..
Cuba RR. Co
Int.
Def.
on
8,000,000
4,000,000
notes,
20,730
101,285
92,662
4,232
1,317,820
Exp's (new crop).
86,729
Individ'is
6%
1912.
$
23,476
83,491
75,721
4,232
33,066
121,020
75,978
Cash for bond int.
%
due Mar. 1 '14. 1,200,000
3,874,000
2,622,483 Pay-rolls
18,612
1,901,438 Audited vouchers.
31,089
850,340 Bills payable
1,077,039
Cabaniguan saw
Live stock.
1913.
Liabilities—
8,000,000
1,000 Capital stock
6,126,000 Debenture bonds. 4,000,000
com.stk.
do
Year.
$
1912.
$
A 3 sets
-Bal. of Net Earns.—
Current
Previous
»
$'<
Interborough Rap Tran July
3,252",617
7,287,650
Previous
Year.
34,469
242,997
Jan
182,729
28,610
161,012
162,552
264,034
1065,928 1044,441
$
July
1
Houghton Co Tract
Jan 1 to July 31
£11,500
£467,370
£462,580
£10,981
£442,556
£424,388
£50,842 £2,112,041 £2,163,997
222,458
1,048,503
963,533
272,714 2,304,759
1,751,3'0
£11,225
£62,262
246,884
354,373
$
.July
Jan
Galv-Houston
1,674,570
941,633
473,710
410,942
76,539
97,617
467,107
1,642,213
5.511,100
63,181
330,693
160,110
Current
Year.
%
$
174,009
143,060
55,778
499,185
5.612,566
82,402
603,928
23,901
71,406
354,363
_
United Rys of st L._ July..
Westchester Electric- May
Western Rys & Light July
$
93,923
36.021
61,406
85,295
12,099
_173,035
~£10,795
Union Ry Co ofNYC. May
UnionRyG&ECodll)
S
54,233
39,686
238,686
37,057
34,836
151,451
14,873
13,653
59,586
128,681
123,689
537,650
1232.153 1215.048 5.848,536
18,723
15,827
88.232
319,132 297,235 1,816,369
180,931
146,289 1,190,225
41,151
36,621
203,251
9,919
9,108
30,547
23,988
22,874
162,794
24,545
24,389
163,111
1996,612 1919,540
568,875 582,964 3,293,523
93,150
89,365
457,564
683,957 660,647 4,148,286
32,753
32,095
133,047
May
New York Railways. May..
Previous
Year.
Year.
El Paso Elec
N Y City Interboro
May
N Y & Long Isl Trac. May
N Y & North Shore—
May
N Y & Queens Co
Net Earns.-
Year.
Roads.
Previous
Year.
-Bal. of
—Int., Rentals, &c.—
Current
Road.
xcvii.
deb. bonds
payment
land (not due)
Profit & loss.
120,000
1,200,000
12,726
22,875
660,652
161,677
2,128
673*430
1,020
24,302
120,000
on
1,385
2,575
2,664,664
__
1,903,525
N
Total
-—17,618,347
—V. 97. P. 364.
236.
16,684.910]'
Total
.17,618,347 16,684,919
Sept. 6
Additions, &c.—Since the last annual report fertilizer and acid plants at
Cincinnati, O., Shreveport, La., and Wadesboro, N. C., have been com¬
Cuba Railroad Company.
(The)
(Report for Fiscal Year ending June 30 1913.)
Sir William Van Home, Montreal, Aug. 20,
President
wrote in substance:
earnings of the railway were $4,632,040, being an
The net earnings were $2,215,502, an
21.8%.
The proportion of working expenses to
Results.—The gross
$812,787, or 21.3%.
increase of
increase of $396,642, or
compared with 52.37% for 1911-12.
gross earnings was 52.17%,
The net earnings of the past year,
after providing for all interest and the
pref. stock, were equal to 8.14% on the $10,000,000
common stock, on which a dividend of 4% was paid on May 1 1913.
The
gross earnings have increased 350% in the eight years since 1905 and the
net earnings have increased 649% in the same time.
Renewals.—Ninety timber bridges of an aggregate length of 3,811 ft.
were permanently replaced during the year and the masonry or concrete
full dividend on the
piers or culverts are ready for the superstructure or filling of 108 other
bridges aggregating 3,735 ft. in length.
Settlement.—A. settlement has been reached with the Cuba Company
(which see above) of all matters relating to the construction of the railway,
the remainder of the common stock, $3,874,000, shown in former re¬
and
ports to be due to that company on
delivered.
the completion of its contract, has been
"
.
Equipment Trust.—The capacity of the Jobabo sugar mill of the Cuba
Company is being doubled for the coming harvest, and three large indepen¬
dent sugar mills are under construction along your railway.
The resulting
will require a large addition to the rolling stock,
increase in sugar tonnage
provided for by means of a rolling-stock trust.
Outlook.—The new sugar crop is coming on well, and this, with
and this has been
the in¬
and the increased milling capacity, together with
creased plantings of cane
development of all the other industries on your lines and the
large and constant increase in your passenger traffic, warrant your direc¬
tors in their expectation of gratifying results for the present fiscal year.
Peace and quiet prevail everywhere in Cuba, and, notwithstanding the
low price realized from the last sugar crop, the island is prosperous.
the healthy
OPERATIONS AND FISCAL RESULTS.
Gross
1912-13.
$1,660,224
Earnings—
1911-12.
1910-11.
$1,001,291
98,412
153,845
111,006
112,814
$4,632,040
$3,819,253
$3,059,650
$2,559,336
$644,915
324,354
Conducting transports
1,139,608
General expenses & taxes
186,861
Antilla terminals
120,800
$478,225
$387,512
249,722
$352,607
209,693
824,233
154,892
69,220
698,163
146,586
44.987
$2,416,538
funded debt, &c.
801,222
Preferred dividends
(6%)600,000
758,998
$1,685,579
(55.06)
$1,374,071
576,755
$1,452,036
$2,215,502
$2,000,393
(52.37)*
$1,818,860
(5)500,000
(4)400,000
$1,107,299
435,210
(3)300,000
$559,862
$397,316
$372,089
109,568
Mail
Car
151,291
1,738,243
68,491
52,382
kilometerage
Hire of
'
169,267
2,156,843
Express and baggage—_
Freight
202,796
equipment...
Tugs and lighters
Antilla term inals
k
157,804
...
Miscellaneous
Total....
.......
92,914
283,388
972,275
162,902
103,603
...
Ratio oper. exp.
Int.
(52.17)
to gross.
Net earnings..
on
1,136,474
38,381
77,407
7,496
59,164
54,603
(56.73)
dividends..j(4%)400,000
Common
Net income..........
$414,280
and structures include yearly
$96,000 extraordinary expenses not pertaining to the particular years.
*
The
maintenance of way
for
figures
GENERAL BALANCE
1913.
■
$
■
equip.37,257,132 32,644,448
103,390
TheCubaCo.,N.Y.
449.297
Mat'l & supplies..
473,996
729,649
743,348
Cash......
626,607
Cash for bond int.
304,350
312,625
Preferred stock... 10,000,000
Common
agents
■
21,516
33,032
142,152
101,196
2-year
104,936
112,172
rent
account
,
296,546
115,2S5
1,443
2,278
loan3
••
(Report for Six Months' Period ending June
6,126,000
Pros. Daniel Guggenheim, New
Income Account.—The directors are
pleased to report satisfactory results
present time only a small proportion of the smelting works and mines
located in Mexico are being operated.
Fortunately the
have been expected from the large expenditures
during this and the previous year on property located principally in the
United States,are now being realized, so that the comparative importance
of the loss in earnings from the business in Mexico is thereby lessened.
The gross earnings for the period of six months shows a decline, as com¬
pared with the same period of last year, amounting to $916,331, due to the
causes outlined above.
On account, however, of decreased charges against
gross income, the net income for the period shows a decrease of only $250,406, and there has been added to surplus account from profit and loss
$1,017,894 after the payment of the regular dividends on
pref. stock
and dividends on the common stock at the rate of 4%. ,
Property Account.—Following the plans for increasing and diversifying
its business, the company has expended during the past six months, in con¬
the
the company
of
increased earnings which
nection
charged
with
new
property
depreciation
to
or
the
increased facilities. $1,683,954,
of $588,200.
The property
sum
Interest
oh
......
41,246
120,746
2,000,000
37,208
124v662
bonds
Profit & los3 surp.
300,750
64,714
3,396,841
300,750
92,782
2,982,561'
904
39,954,297 35,193,963
CONSOLIDATED
'
INCOME ACCOUNT.
—6 Months
Earnings of smelting & refining & allied
Ordinary repairs and replacements
plants
$5,200,713 $5,759,730
Earnings from mining propertiesj
"...
Int., rents, dividends received, commissions,
Gross
■
867,007
603,892
—
&c
Total liabillties.39.954,297 35,193,963
(President's Annual Statement, Dated Sept.
income..
Deduct—
2.1913.)
434,984
44,955
588,200
475,000
510,000
750,000
1.750,000
1,000,000
U-
Depreciation & amotrization of property.
...
Int. & discount on Securities Co. 6% debentures._.
Amer, Smelt. Securities Co. pref. A divs. (3%)--Amer. Smelt. Securities Co,, pref. B divs.
Amer. Smelt. & Refg. Co. pref. dividends (3K %)-Am. Smelt. & Refg. Co. common dividends (2%)._
Miscellaneous profit and loss adjustments..
,.1,
46,000
$1,017,894 $1,268,301
CONSOLIDATED GENERAL
June .30 '13.
June 30 '13.
Dee. 31 '12.
$
BALANCE SHEET.
$
Assets— '
Liabilities—
50,000,000
Property acct..141,159,282 140,063,528
do
50,000,000
pref
1,010,538
Investments
1,010,538
Sec. Co. pref. A. 17,000,000
Bal. disc, on Sec,
pref. B__ 30,000,000
Co. debs
629,167
654,167 \ do
Sec. Co. deb.6s. 13,654,500
Insur. fund (se-
conditions warrant.
This past season the consumption increased over the year before
5 to 10% in various States, but was not as large as two years before.
Dem! loans (sec.
was
from
More
goods might have been sold; but for a much closer scrutiny of credits.
The Southern Cotton Oil Co., our principal subsidiary, had to contend
with much higher prices for cotton seed than during the previous year,
owing to the shorter crop in the Atlantic States, and, generally speaking,
a poorer quality of seed, producing much less products.
Where last year
the crude oil mills made money on the seed theiy crushed, this year there
was absolutely no profit in crushing seed, provided the products of the seed
were sold at the time they were crushed.
The phosphate mining business, while it had a large output, made a less
profit than usual, there being a decline in the price of phosphate rock,
owing to the low price of fertilizers.
General Results.—The total volume of the year's business, represented in
dollars and cents, amounted to $53,378,095, against $50,948,783 the pre¬
vious year.
While it is true that in some previous years thd company has
sold more tons of fertilizers, and the Cotton Oil Co. has crushed more seed,
this increase in total receipts was brought about by the large increase in
the sale of proprietary articles—that is to say, high-class goods sold under
the company's own brands.
This is gratifying, as it indicates the growing
popularity of our proprietary brands.
The expenditure of $ 1,424,310 for repairs and maintenance, charged off to
operations,, is evidence that the properties have been fully maintained.
Outlook.—The feeling of the fertilizer, cotton oil and phosphate rock trade
is apparently growing healthier day by day—the final outcome largely de¬
pends on conservative management, fair crops and fair prices for agricul¬
tural products, and present crop prospects point to general good agricul¬
tural conditions.
>
'
'i
.'
*
Smelt. Co. com.
cur's at cost)
228,705
_
_
1,867,305
Accts. <fc wages.
7,176,692
385,000
440,000
5,715
37,605
44,272
6,796,937
133
897
349,744
344,381
copper
•
505,636
341,497
efit funds....
3,657,987
5,831,340
5,935,874
3,809,373
97,
Total
189,880,705 189,211,705
Total
p.
500,000
477,589
17,777,296
327,500
341,716
16,759,402
189,880,705
189,211,705
Insurance fund.
Miscellaneous.
_
Profit and loss..
—V.
46,856
Employees' ben¬
proc. of smelt,
Cash
min'g prop.
accrued
Div. unclaimed-
in
and refining).
payable.
Deferred paym't
on
Loans to affil.cos
by
Divs.
trus¬
tee of sink. fd.
375,000
Int. on deb.bds.
346,536
Prepaid expen..
Accts. collectible
267,619
.
_
Acer, bond int..
2,906,088
with
Accrued taxes.
29,661,018
2,783,114
327,185
4,387,563
26,975,012
Material & supp.
Cash
228,705
,
'12,
50,000,000
50,000,000
17,000,000
30,000,000
14,495,000
244,809
375,000
1,873,105
6,773,297
.
Metal stocks...
Dec. 31
$
•
the ,most unfavorable in the
history of the company, so far as net earnings show, due to various causes.
The fertilizer department suffered material^ from general over-produc¬
tion and almost utter demoralization in the trade in-1912, when the con¬
sumption of fertilizers decreased from the previous year 12 to 20% in most
of the Atlantic cotton States.
-This, of course, meant,a large amount of
fertilizers carried over, and generally demoralized conditions in the busi-'
ness.
Manufacturers strove to get rid of goods without much regard to
profit.
Because of this large stock carried over from 1911-12, which would
in all probability be pressed
sale, we deemed it necessary at the beginning
of 1912-13 to reduce our price list, and the result was that there .were smaller
trade discounts, but with better net profits, than the previous year, though
the profits were not what they should have been nor what
normal trade
season
46,060
1,209,817
475,000
510,000
750,000
1,750,000
1,000,000
115,657
..$5,653,717 $6,319,642
,.
Surplus
The
past
$63,420
399,688
$54,578
Total deductions..
comparative figures for the year ended May 31 were
given Aug. 9 (p. 362).
Pres. S. T. Morgan Sept. 2 wrote:
1,422,069
406,144
$6,671,612 $7,587,943
Administrative expenses
Research and examination expenses
Virginia-Carolina Chemical Co., Richmond, Vs.
Conditions.—-The
ending—
$6,509,769 $6,866,432
—
1,309,056 1,106,702
Taxes
Note.—As against cost of road and equipment there is payable by the
Government of Cuba, on Bayamo Lines .subsidy account, the three remain¬
ing annual installments of $273,703 each, the first being due Nov. 4 1913.
—V. 95, p. 1541.
"
Trade
and has
account,
therefore, shows an increase Of $1,095,754.
J'ne 30 '13. J'ne 30 '12.
1,500,000
due
-.i.
30 1913.)
York, writes in substance:
excepting from those properties located in Mexico and from the smelting
plant of the Consolidated Kansas City Smelting & Refining Co. at El Paso.
The production at El Paso was largely curtailed by a strike, brought about
by the Industrial Workers of the world, whom the managers declined to
recognize.
At the present time the plant is fully manned.
In its copper
department the company is doing an increased business with satisfactory
profits.
In its lead department, which depends for its ore supply almost
entirely upon Mexican importations, the production continues smail.
Since the beginning of the year railroad transportation in Mexico has been
more and more interfered with by the revolutionary disturbances until at
12,030,000
570,041
security
Total assets
$
10,000,000
.
•
against
note3
due July l._...
1,917
prepaid
Temporary
-
Misc. current acct.
Taxes paid In adv^
Insurance
1952-12,030,000
1 i960 4,000,000
Aug. 15 1912....
Due from Cuba Co.
car trust
,
American Smelting & Refining Co.
V
V
Audited vouchers.
Wages
Govt, of Cuba cur¬
*
Since organization, late in 1895, the company has paid 71 consecutive
quarterly dividends of 2% each, amounting tof$ 18,428,243 on its pref.
stock, and has paid dividends on its common stock amounting to $7,252,313,
or a total of $25,682,656 paid in dividends.
During this period there has
been put back into the property for repairs and maintenance $13,219,448,
charged off to operating expenses.
[As to omission of semi-annual dividend oh common stock in Aug. 1913,
see Y. 97, p. 370.]—V. 97, p. 362. 370.
Impr. & equip. 53,
due May
oth. lines
and conductors.
stock...10,000,000
due July 1
,
Cos; & individuals
Due from
their needs*
1st M. bonds, 5%,
'
from
1912.
$
Liabilities—
S
Cost raod <fc
Due
SHEET JUNE 30.
1912.
1913.
•.
A.
paid for and retired Dec. 1 1912.
Owing to the stringent money market, particularly in the South, a num¬
ber of the small auxiliary companies in which your company is materially
interested have been unable to finance themselves; that is, to pay for their
materials, supplies and operations and it became necessary for your company
to loan these small companies the necessary money to conduct their business.
Under ordinary conditions these corporations should be able to finance
86,108
Operating Expenses-—
Maint. way & structures*
Maint. of equipment
Total
pleted and put into operation; the Southern Cotton Oil Co.'s commitments
on account of its stock interests in oil refining and manufacturing plants in
Europe have been met, and it has erected a barrel factory at Savannah
and made large additions to its lard and refining plants; the Amalgamated
Phosphate Co., in which we are largely interested, has about completed its
plant, which is now in operation.
We do not anticipate that any large
sums will be required for additional plants for the coming year.
During this fiscal year the Consumers' Chemical Corporation has been
organized and is now constructing a fertilizer and chemical works on a site
purchased near Carteret, N. J.
This company has $100,000 of common
stock, all of which belongs to your company.
It has issued $500,000 of 7%
cumulative non-voting pref. stock.
Your company has guaranteed the
dividend on the pref. stock and its retirement periodically within 20 years.
(See V. 96, p. 1426.)
We feel that the $600,000 capital stock, all of which
has been paid in at par, will be sufficient, in addition to the cost of the site,
already paid for, to complete this plant and furnish it with all necessary
working capital.
.
Your company has likewise perfected arrangements whereby its already
large holdings of very high-grade Florida pebble phosphate rock will be
materially incro3#S6d,
Financial.—The $300,000 bonds required for the sinking fund were duly
1909-10.
$1,394,324
119,481
$1,205,231
107,114
114,925
1,319,304
; 45,594
125,881
2,364
65,240
73,997
Passenger
663
CHRONICLE
THE
1913.]
178.
American Hide
& Leather Co., New
(Report for Fiscal Year ending June
Pres. Thomas W. Hall says in substance:
York.
30 1913.)
herewith a consolidated statement of the
its subsidiary companies.
The operations
trading profit of $1,494,473, which, after
charging replacements, renewals and repairs, reserve for bad and doubtful
debts, interest, and the usual sinking fund appropriations, is reduced to a
Results.—-The directors submit
accounts of this company and
of the company resulted in a
net profit
of $475,518.
,
Bonds.—The bonds of (the company in
the hands of the public at June 30
1913 amounted to $5,506,000, having been reduced by the acquisition for
the sinking fund of $150,000 (the usual appropriation) and $169,000 pur¬
chased out of accretions to the fund; the cost of these $319,000 bonds was
There are now $3,019,000, par value;of bonds held for the
together with cash and accrued interest, $60,837, making a
$3,079,837 in the fund.
$322,939.
ing fund,
of
sink¬
total
664
CHRONICLE
THE
Depreciation.—The charge to profit and loss account in respect of the
appropriation for sinking fund for the past year, together with interest on
the bonds in this fund, has been $328,800, and, as usual, this, in conjunc¬
tion with the outlay on replacements and repairs, is considered as taking
the place of any specific provision for depreciation.
Additions, &c.—Additions, improvements and betterments added to cost
of property during the year amounted to $201,068.
This includes a large
new concrete structure added to another of our calf-skin tanneries, designed
to increase the efficiency of the plant, and to take the place of premises
formerly rented for use of sales department.
Also shares in a company
that utilizes our by-products under more favorable conditions than formerly.
The total current assets on June 30 1913 amounted to $11,693,394, being
an increase of $810,170 compared with June 30 1912.
The current liabili¬
ties were $2,539,932, an increase of $535,721.
The excess of current assets
over current liabilities is, therefore, $9,153,462, being $3,647,462 more
than the total par value of bonds outstanding, leaving in'addition the entire
plant and good-will standing against the capital stocks of the company,
INCOME ACCOUNT OF COMPANY AND
output
Expenses—
Gross
1911-12.
1910-11.
.
$9(978,776 $13,299,708
3,293,251
3,432,092
682,927
704,869
Hides & skins used, &c.$13,241,245 $11,785,814
Mfg. supplies & expenses
3,676,261
760,477
507,2171
Discounts...
General & selling exp—
Total.....
3,255,262
731,038
478,948
483,320
520,212
$18,185,200 $16,251,062 $14,438,275 $17,956,881
—
Trading profits...
Addmiscell. income....
Total......
Deduct—
....
Bad debts and reserve.
$1,009,966
$314,237
$1,331,369
$1,009,966
$314,237
12,741
$184,834
23,392
$162,591
28,441
$214,281
18,454
126,410
511,5Q0
153,460
39,762
511,500
149,061
54,696
511,500
148,483
112,759
511,500
153,833
$1,488,872
5,600
$1,330,302
$1,494,472
$214,844
Replace'ts.renew.&rep.
.
1,067
.
less
Interest on
loans,
interest earned
*
SUBSIDIARIES.
ITS
1909-19.
..-.-$19,674,072 $17,581,364 $15,448,241 $18,271,118
1912-13.
Int. on 1st M. bonds.
.
Cost of 150 bonds for s.f.
♦Includes int. on bonds in sinking fund amounting in 1911-12 to $156,620.
BALANCE
OF COMPANY AND
SHEET
SUBSIDIARY CO'S JUNE SO.
stock, $438,400 8%
cum. pref. stock and $181,100 7% cum. pref. stock, the
which,except $47,000 and $18,000»respectively, had agreed
exchange the same on certain terms for the new 6% pref.
It was said
that when the exchange should be completed there would be outstanding
of the 6% pref. not over $3,216,000.
The 6% pref. shares are subject to
call at $120 per share.
Data Furnished to Sperling & Co. by Pres. Washburn March 16 1912.
Formed fincorp. in Maine] to manufacture calcium cyanamid, a nitrogen¬
ous fertilizer of great value, extracted
mainly from the nitrogen in the at¬
mosphere, and operates as exclusive licensee in America uhder strong
patents.
Started manufacturing Jan. 1 1910 at Niagara, with plant valued
at over $400,000, mainly steel "and concrete.
Present output 12,000 tons
a year.
Net earnings for 6 mos. ending Dec. 31 1911, $72,576. It Is pro¬
posed with the proceeds of the present issue to increase this plant to double
its present capacity and to build another plant of 24,000 tons yearly capac.
Calcium cyanamid was discovered by two eminent German chemists and
Is manufactured as follows:
Coke and lime, after being combined in an
electric furnace, are pulverized and again combined in electric ovens with
nitrogen obtained from the atmosphere by the liquid-air process, forming cal¬
cium cyanamid, which contains an average of 20% in weight of available
nitrogen.
When sown in the soil it decomposes in contact with the moisture
and the nitrogen thus released is assimilated by the plants.
It has been
proved that cyanamid is a plant food of great value in promoting the
growth of wheat, cotton, sugar-cane, corn, oats, barley, rye, rice, tobacco
and all kinds of garden produce, being superior in fertilizing qualities to
Chilean nitrate and sulphate of ammonia in the ratio
of 105 to 100
to
_
#
and 97.
Directors (in March 1912).—President, Frank S. Washburn
Alabama Traction, Light & Power Co.); Treasurer, A. H.
(director,
Robinson
(banker); W. R. Cole (ironmaster), Johnson Bransford, John W. Thomas,
all of Nashville, Tenn.; Henry Parsons, New York; Alfredo Corradini,
Rome, Italy; James Mitchell and Lawrence Macfarlane.]
INCOME ACCOUNT FOR YEAR ENDING JUNE 30 1913.
Net profit for year, $189,109, and bal. July 1 1912, $144; total...$189,253
Deduct dividends Nos, 3 and 4 op pref. stock paid Jan. 1 and
July 1
1913, $65,898 and
$
.■
'
•
-
,
1,537,064
1,586,977.
claims,
Sundries,
&c
13,133
-
11,985
Insur. unexpired &
79,228
540,367
prepaid interest.
Cash.—
-
of properties
Cost
a
S'
shares.. 13,000,000
Common
shares—11,500,000
1st M. 6%
bonds.d5,506,000
170,500
1,700,000
Foreign exchange.
459,025
Trade accounts._.
130,835
Wages, &c.__
79,572Bills payable
70,538 Sinking fund 1st M 3,079,837
3,179,115
395,120 Surplus
Total
38,804,884 37,787,784
Total--
1912.
' S
Preferred
Interest accrued..
accounts
receivable...-
Liabilities—
$.
proper's_a27,050,653 28,849,584
Sinking fund.660,837
54,976
Supplies...
9,523,602 8,818,604
Bills and
.1913.
1912.
1913.
•
Assets—
Cost of
—
.
13,000,000
11,500,000
5,825,000
170,500
1,000,000
547,663
195,876
90,172
2,754,976
2,703,597
38,804,884 37,787,784
_
includes 4,517 shares preferred and 2,25#' shares common
in trust.
and accrued interest, the par value of bonds in sinking, fund
stock of American Hide & Leather Co. held
6 Includes only cash
($3,019,000vin 1913, against $2,700,000 in 1912) not being treated as an asset—
foot-note d.
see
After deducting reserves of $133,705 for doubtful debts in 1913, $160,637 in 1912.
d After deducting $475,000 bonds in treasury yearly and in 1913 $3,019,000 bonds
>in aiming fund, against $2,700,000 bonds in 1912—see foot-note 6.—V. 97, p. 239.
c
American
Cyanamid Co., Nashville,
and
Tenn,,
Niagara Falls, Ont.
{Report for Fiscal Year ending June 30 1913.)
Pres.
Frank S.
Washburn, Nashville, July 1913, wrote
in substance;
■
Construction.—The
work
necessary
to increase
the
plant
at
Falls, Ont., from a capacity of about 12,000 tons to 50,000 tons per annum
delayed in its inception and hindered in its prosecution, but now that
the requisite supply of power has been assured (under our contract with the
Ontario Power Co.) by the unanimous decision of the board of arbitration,
the work of constructing and equipping the full plant is being pushed vig¬
orously. "There will be shortly a sufficient installation to increase the
capacity of the plant to 25,000 tons per annum and during the spring or
arly summer of 1914. the plant should reach the intended capacity of
50,0-0 tons per annum.
The delay has not only subjected us to direct
loss and a loss of anticipated profits, but we have had to carry idle funds,
about $1,500,000, paid over under previous agreement by subscribers to
its capital stock.
In effect the company has had to carry a capital burden
and administration expense nearly sufficient for 50,000 tons per annum
on a production of 12,000 tons per annum.
The increase in fixed assets during the year, in the way of land, build¬
ings and equipment, amounts to $846,598.
Sales.—The selling
season
for fertilizer materials practically closes
.
*
,
— .
$44,888
...
BALANCE SHEET JUNE 30 1913 (Total each side $5,672,639).
Lands, building & equipment.$l,306,295
Bills and acc'ts receivable
13,085
Cash...
159,233
Manufactured stock———.
182,936
Sundry supplies.
88,823
License, patents & pat .rights. 3,344,340
Founding and propaganda
$227,926
Com. stock (auth. $4,000,000)32,500,000
Ontario Power Co. claim
Pref. div. No. 4. July 1
—
350,000
Preferred stock...
Scrip
_
__
certificates...————
Accounts
payable
a2,670,800
542
27,943
Ontario Power Co. claim..—
350,000
1913.^
78,467
|Total surplus..
44,888
a Pref. stock authorized, $4,000,000: deduct treasury stock unsubscribed,
$792,000, and treasury stock subscribed, $537,200; bal. $2,670,800.
Laurentide Company, Ltd., Montreal.
(Report for Fiscal Year ending June 30 1913.)
Pres. W. C. Van Home says in
substance:
■
Results.—The profits for the year after providing for interest and other
charges, including an amount pf $128,700 for betterments of plant, were
$758,085.
An explosion in the sulphite plant occurred during the year,
which, in addition to the direct loss involved, compelled the company to
buy its supply of sulphite for some months, thereby reducing profits.
Additionsn'&c.-—Besides the amount of $128,700 taken from the earn¬
ings for betterments,; there was expended on capital account, for the hew
power development, $471,728; for the enlargement of the sulphite mill,
$62,736; for the extension of the ground-wood mill, $112,163; for the exten¬
sion of the steam plant, $71,379.; for additional timber lands, $160,912, and
for real estate at Grand Mere, $53,179.
These various enlargements were
required to meet the growing demands for our products.
The work on the new power development is advancing satisfactorily.
Aside from this work, no considerable capital expenditures are contemplated
during the coming year.
•
"
«
Balance Sheet.—The item "investments, $195,500," is represented mainly
by bonds of the company which were purchased with surplus cash from
time to time outside of the sinking fund.
INCOME ACCOUNT YEAR ENDING JUNE 30 1913 AND 1912, COM¬
PARED WITH FORMER LAURENTIDE PAPER CO.
Niagara
was
—144,865
$78,467,respectively.—
Balance, total surplus to June 30—
—
...
xcvii.
holders of all of
$1,018,955
$908,549
$905,711
$1,010,827
_Sur.$475,5l7sur.$422,820sur.$104,255sdef.$696,590
Total deductions
Balance for year.
[Vol.
1909-10:
1910-11.
1911-12.
1912-13.
Mill nets from ground wood, sul¬
$910,846
Total...
..$775,524 $909,583
Deduct—-Bond interest and other charges
—
$911,998
98,706
phite pulp, paper, &c_—__ j_ .$669,893 $831,508
Profits from lumber & miscell
105,631
78,075
104,760
$1,009,552 $1,016,758
$152,099
$129,973
Betterments to plant
Dividends
103,880
-——J:
Depreciation
—
reserve
*
as per
(8)576,000
20,000
20,000
$815,979
$193,573
$854,674
$162,084
———
Total deductions...
Surplus,
*128,701
_.(7^%)540,000
.--
balance sheet
—
;
See details above.
•
April 1.
Sales for 12 months ending March 31 1913 were 15,488 tons,
against 12,774 tons for the preceding 12 months.
A number of large orders
at satisfactory prices were declined by the company by reason of limited
manufacturing capacity.
The shipments fell short of the sales, since the
.capacity of the plant was inadequate to keep pace with the necessary deliv¬
eries during the early months of 1913.
The company has extended its
field of operations in anticipation of increased output, so as to include the
Philippine and Hawaiian Islands and the sugar cane industry of Louisiana
Definite agencies have been established for the two for¬
while the two latter are handled by our principal sales office at Buffalp.
Market Conditions.—The past fertilizer season in the United States has
been characterized by a fair volume of fertilizer materials used, probably
equal to or somewhat in expess of\the volume of either of the preceding two
years, and by a slight
improvement in prices for raw matreials.
Ferti¬
lizer manufacturers, moreover, are believed to be practically without stocks
of raw materials to carry over into next year's mixing operatiohsi.
This
should insure a good volume of sales for the coming season and at godd *
prices, in which advantage we, as vendors of a fertilizer raw material,
and Porto Rico I
mer,
should share.
'
We have instituted
comprehensive propaganda and sales campaign,and,
looking to the early application of a part of its product to various nitrogen
derivatives for the arts, have established a strong technological department,
Status of Foreign Co-Licensees.—Dr. Albert R. Frank, of Germany, one
of the founders of the cyanamid industry, on April 21 wrote in substance:
"The entire production of the German cyanamid factories has been sold,
not only for 1913, but also for 1914.
During the fall of 1912 and the spring
of 1913 about 52,000 tons were sold.
The Bayerisch Nitrogen Works in
Trostberg have this year increased their production from 14,000 to over 20,000 tons and are building an addition to their power plant of approximately
50,000 h.p.
The Cyanamid works in Knappsack are erecting a new plant
to increase their capacity from 16,000 tons to 21,000 tons in 1914 and 31,000
tons in 1915.
The extensions made by Nitrogen Fertilizers, Ltd., in Odda
will enable them to increase their present production of 24,000 tons to 44,000
tons in July and to about 70,000 tons in October 1913.
The factories in
Martigny and Notre Dame have increased their production from 16,000
tons to 22,000 tons, 'The production of the Italian and Austrian factories
Is completely sold and preparations are being made for extensive enlarge¬
ments.
In Japan a new plant for the production of 16,000 tons per annum
is to be in operation in October.
The erection of plants in Egypt and in
British India Is projected.
The English Cyanamid Co., in addition to their
present factories in Odda and Alby, propose to establish a plant in Iceland
to use 400,000 h.p. and two plants in Norway with a total of 600,000 h.p.,
following the formation of a new co. with a capital of $10,000,000."
fin May 1912 Lloyds Bank, Ltd., London, offered on behalf of the con¬
tractors for the shares, $2,000,000 6% cum. non-voting pref. Tp,& d.)
shares at $85 and $400,000 common shares at $30, par $100 a share.
At
that time the company had outstanding, in addition to $2,500,000common
■
BALANCE SHEET JUNE 30.
1913.
Assets1-
Mills,'
.
buildings, I
..
$
1913.
1912.
S
Liabilities—
Stock
1
Bonds———
5,344,375
2,152,058
4,620,761
1,991,146
Bond int. (dueJ'ly)
Div. (due July) —
343,726
Sidings & roll'g stk
50,000
Logs, merch., &c_*1,358,372
Acc'ts receivable.
593,153
Bills receivable—
11,546
Cash in hand, &c_ " 35,732
Investments
195,500
Miscellaneous
54,174
283,842
50,000
1,139,039
391,866
103,262
175,681
212,600
22,454
Wages
__10,138,636
8,990,652
plant, &c
Timber
lands
Real estate (work¬
men's houses,&c.)
Total...
*
and
Bank
loans....1.
Acc'ts payable.—
Contingent acc't—
Deprec'n reserveSundry reserves-
Surplus
Total
—i.e.—
„..r
.
$.
'
7,200,000
839,899
36,000
144,000
8,046
929,921
328,101
2,985
270,000
24,026
355,658
10,138,636
1912.
.
1
S
7,200,000
878,199
36,000
144,000
5,681
234,585
28,259
250,000
20,355
193,573
8,990,652
Includes"in 1913 logs and supplies, $804,961; merchandise, $274,326
mill supplies, $279,OSS.—V. 97. P-240.
a
New
River Company.
(Report for Fiscal Year ending March 31 1913.).
Pres. Robert H. Gross, Boston, May 18, wrote in subst.:
Results.—While the results for the year have been influenced by receiver¬
ship proceedings, progress has been marked and our affairs are to-day in a
much improved condition as compared with one year ago.
The receiver¬
ship proceedings were brought by a small minority of stockholders on no
good grounds, and were dismissed a few months later by the Supreme
Court of Appeals without the receivers appointed by the Circuit Judge
having taken possession (V. 95, P- 115, 240; V. 96, p. 1092, 1427).
Railroads.—-In order that the mines of the subsidiary companies might
be best served, negotiations were entered into with the Ches. & Ohio Ry.
and the Virginian Ry. cos. which resulted in the leasing of the White Oak
Ry. and the Piney River & Paint Creek RR. to the Chesapeake & Ohio
and the Virginian.
The leases became operative on Dec. 1 1912.
The
working out of the leases is of mutual benefit (V. 96, p. 1427).
White Oak Coal Co.—The dispute growing out of the sale of the Chicago
yards, which were disposed of after an unsuccessful attempt to do busines
in that city, has been finally adjusted, so that the White Oak Coal Co. is
now at liberty to seil coal in Chicago.
In order to give our entire attention
to the mining and selling of coal in a wholesale way, the retail yard at
Richmond has been sold to the leading retailers of that city, who have
contracted for a liberal tonnage of our coal.
Negotiations are under way
for the sale of our Washington, Cincinnati and Louisville yards.
The
Zeh house in Washington has been sold.
Sept. 6
satisfactory, has, after months of negotiation, been canceled and
business or the Great Lakes Coal & Dock Oo. is being conducted under
the
1913.
Plant
383,050
237,963
309,974,
158,657
76.347
53,250
482,434
fromNewRlv.Co
Due
Cash
-
Coal
transit
in
Contingent receiv'les
Profit and loss—...
a
shipped was 6,506,814 lbs. copper, 8,734,398 lbs.
silver and 14,042 oz. good.
The tonnage of ore reserves
maintained, but with a decrease in average grade.
Operations
during the last quarter of the year were retarded by labor troubles.
The
product of the ores
The
lead, 234,004 ozs.
of $195,780.
has been
Erofits of the year were $603,923. Cowans,
ligest of Statement by Fredk.
Mine
General Manager S. A, Scott, May 21.
Wingrove Mine has been variously improved
(making 175 in all) can produce regularly 600 tons
of coal per day at favorable cost.
We have made considerable headway
with improvements at the Dunn Loop mine and have in view practically
doubling the output; the mine will be one of the largest producers in the field.
During the year the Harvey mine developed 20,292 ft. of entry and for the
two years 1911 and 1912 a total of 39,672 ft.
The mine is in splendid con¬
dition and, will produce from 15,000 to 18,000 tons per month With suffi¬
cient labor, and will produce coal below $1
a ton, contrasting with $1 36
for Jan. 1911 and SI 18 in March 1913.
The main entries in the Collins
mine have been started and are going along in coal of reasonable thickness;
this mine should have a life of 7 or 8 years.
The number of feet of entry driven in the other mines was as follows:
Scarbro, 14,784; Whipple, 8,556; Carlisle, 9,384; Oakwood, 9,204; Summerlee, 14,196; Lochgelly, 11,402; Beckley, 17,676 (it will be necessary to
replace the stope with a hoist before this mine can produce 1,000 tons a
day); Mabscott, 7,794; Sprague, 12,484; Cranberry, 12,573; Price Hiil,
coal faulty; Macdonald, on retreating basis.
General.-—During the past year it has been our policy to develop the prop¬
erty with a view of future production and cost without regard to temporary
or monthly cost showing.
The company has a large area of coal in connec¬
tion with each mine, making the life of nearly all of its mines much greater
than the ordinary life 'of a mine and necessitating proper and advance
development.
Thousands of feet of main haulage entry have been laid
with heavy iron, making permanent haulage roads; rail for 30 miles of
track has been purchased
We are in position to employ about 625 additional men, and with this
number of men explanations of high cost will no longer be necessary.
I am
of the opinion that we will be hard pressed for labor for the next three or
four months and that no great improvement will be shown in the cost until
after that time.
The mines, generally speaking, are in good condition and
capable of producing 7,500 to 8,000 tons of coal daily.
It is wholly a
question of labor..
•
and with 40 more men
.
Famines
and
Belonging
.
of Subsidiary Operating Companies and Amounts
to New River Co., Years ending March 31
po
101,089-
*
Cranberry Fuel
78,324
211,858
Dunn Loop Coal <fc Coke Co...
183,763
Harvey Coal & Poke Co.—.-...—_
Beckley Coal & Coke Co..
....
116,732
108,158
;
Macdonald Colliery Co
179,091
136,436
69,636
39,362
56,237
140,146
Hill Fuel Co___fc
Co
Stuart Colliery
Great Kanawha Collieries Co......
Coal terminals
White Oak
White Oak Coal CO.
Coal Co.
White Oak
8,763
5,079
38.7S9
loss9,706
10SS6.134
12,146
23",469 •
6,829
lo?sl6,508
loss7,350
'
10ss48,242
loss50,022
lossl3,157
163,853
79,159
42,421
lossl5,264
3,826
...
23", 030
(wholesale)..
(retail)
..1,608,688 1,755,105
"
...
New River Co. proportion of profit & losses
of oper. cos.,
loss$112,676 loss$116,578
1912-13. 1911-12.
net loss_S120,676 $132,697
New River Fuel Co.. profits for year.......
Co., losses lor
There
was
27,730
-
is in sight in the mine: (a) 251,500 tons of copper
averaging 1.90% copper, 0.04 ozs. gold and 0.58 ozs. silver; (6) 24,100
lead ore, averaging 14.96% lead, 0.055 ozs. gold, 3.51 ozs.
silver and 0.97% copper, (c) 12,000 tons of lead ore, averaging 6.80% lead,
0.035 ozs. gold, .350 ozs. silver and 1.10% copper which will require
Ore Reserves.—There
concentration.
PROFIT AND
$
19,442,372 19,347,179
Properties & rights
owned in
fee...
Cash & accts. rec.
1,764,840
9,275,000
25,713
39,651
Bonds in treasury.
1,454^000
Contingent accts..
33,979
Treasury stock...
Sundry investm'ts.
1,772,346
9,275,000
Loans to sub. cos.
♦
1,214,708
Profit and loss..
858,756
Total.
♦Includes
interest
and
1912.
1913.
Liabilities—
1912.
$
$
stock—18,249,800 18,249,800
Preferred stock —11,237,400 11,237,400
2,500,000
Bonds outstanding 3,954,000
4,225
Notes payable
596,725
Common
Accrued interest &
~5~, 868
taxes
Contingent accts..
36,148
34,946
Total...
34,109,019 32,120,952
underwriting.
The investments in subsidiary companies were: Stocks aggregating
Mar. 31 1913, against $21,112,478 in 1912 (see list at latter date, V.
on
32,339
97,188
97", 188
852,319
771,053
34,109,019 32,120,952
bond
$21,207,212
96, p, 946);
and loans to subsidiary companies, $22,491,920 in 1913, against $21,964,797 in 1912,
the principal change being loans to White Oak Coal Co., $427,560 In 1913, against
(deb.) $268,793 in 1912.
YEARS ENDING DEC. 31.
1911.
1910.
1909.
LOSS ACCOUNT
1912.
$1,725,999
$1,509,045
96*984
175.090
121,307
158,137
$1,550,909
$1,387,738
$1,877,607
327,620
580,361
628,572
51,190
47,091
43,779
18,044
$2,258,280
$2,178,361
$2,060,089
$2,702,025
freight, selling
Refining,
&c
expenses.
-
Net..
Add stock of bullion end
'
of year
Miscellaneous
income...
Total
of bullion
stock
Less
$2,035,744
&c—--$1,976,454
$1,879,470
Sales of copper,
.
806,374
at
580,361
628,571
806.374
935,362
.$1,677,919
$1,549,790
$1,253,715
$1,766,663
$404,932
181,796
96,340
485,172
$392,798
118,709
beginning of year.....
Total net income
Deduct—
•
.
Mining expensesExploring & development
Mine plant", &c., writ. off.
Smelting expenses
$462,598
124,898
36,985
450,648
Miscellaneous expenses._
35,851
11
39,460
.$1,110,980
Balance, surplus...."....
$566,939
Previous surplus
474,329
...$1,041,268
"
$664,329
Total
39,815
$1,612,400
406,890
$154,263
.1,256,952
$472,239
$342,090
322,239
...
$480,036
108,850
1,307
982,392
*
12,144
606,508
.
58,207
$1,188,366
$65,349
$1,207,700
Total deductions
$1,411,215
(30%)$450,0'00(10)$150,000(10)$150,000(40)$600,000
Dividends
40,000
General reserve
Transferred
to
smelter
.
.
/
.
Total surplus Dec.
31.
■
■
404,325
& realizat'n acct.
$591,268
BALANCE
$406,890
$322,239
$474,329
SHEET DECEMBER 31.
1912.
$
1912.
•
401430
850,195
35,003
80,973
648,866
500,000
22,918
$
Liabilities—.
Capital stock.
....1,500,000 1,500,000
58,792
143,115
50,000
50,000
591,268
474,329
500,000
52,407
Cost
properties, &C_ c850,195
property...
633,876
Debtors
391,640
Smelter
Copper bull. & supp.
1911.
$
1911.
S
Assets—-
Sundry creditors..
General reserves
Profit and loss.
Smelt. & Refin¬
Int.
ing Co. stock
2,200,059 2,167,444
Total.
Total.....—.—2,200,059 2,167,444
properties, &c., of the Highland Boy Gold
Mining Co., including expenditures to Dec. 31 1910; all expenditures during
1911 and 1912 on plant and improvement have been written off.
b Consists^f estimated value of property not realized, $35,003* less reali¬
zation during year, $1,127.—V. 96, p. 1027
Consists of cost of acquiring
Ames-Holden-McCready, Limited.
{Report for Fiscal Year ending April 30
INCOME
SHEET MARCH 31
1912.
$
Assets—
Invest, in sub.cos.
ozs.
tons of first-class
$211,915 $195,789
$84,797 in 1912-13, against $65,920 in
COMPANY—BALANCE
1913.
ozs.
5.432
ore,
above)
charged off for depreciation
RIVER
4.189
to resume sinking.
1911-12; and also in 1912-13, $11,251 for plants impairment.
NEW
Silver.
0.828 ozs*
Development.—During the year 12,320 ft. of exploration and develop¬
and 664 ft. of diamond drill holes were done, mainly in the
(1) On the 8th level, driving west in the Highland Boy
Limestone; noorafound; results not encouraging.
(2) On the 11th level,
east and north portion,
several bodies of profitable ore were opened up;
also 50,000 to 60,000 tons of low-grade ore which cannot at present be mined
with profit; a 480-ft. diamond drill hole, cross-cutting the formation north
of the porphyry dyke, passed through altered limestone and quartzite, but
encountered no ore. Y3) Partially opening the JL2th level by drifts to the
east and west.
(4) Work on the Yampa limestone which overlies and is
separated from the Highland Boy Limestone by a bed of quartzite; the lim¬
its of the ore bearing Yampa Limestone have appraently been reached, as
a barren black lime has come in on all the levels and taken its place.
Labor troubles greatly interfered with mine operations during the last '
ZH months of the year; and for 3 weeks, from Sept. 18 to Oct. 9, the mine
was completely shut down.
After resumption of work in October, labor
was scarce, so that production was on a reduced scale, and practically no
exploring could be done for the remainder of the year.
At present the
labor supply is sufficient to work the mine at its normal capacity, and
vigorous exploring has again been started and preparations are being made
90,822
,91,239
year..
New River Co., net loss (but see text
Gold.
.077 ozs.
.073 ozs.
.143 ozs.
ment work
a
New River
Lead.
19.974%
21.872%
following places:
Cash
losal2,675
7,898
ioss6,422
13,847
_
Total....
530
concentrates....
Lead
Copper.
2.146%
0.820%
0.729%
loss65,302
WhlteJOak Railway Co..
Plney River & Paint Creek RR
Shipped.
opper ore
159,143
Lead ore, first-class— 23,713
loss40,307
37,896
lossl0,642
loss6,915
123,548
82", 573
Mabscott Coal & Coke Co..
International
Contents-
—Average
Dry Tons
prop.
7,170
1oss14,4S9
loss29,791
110,429.
94,938
177,818
94,871
Prudence Coal Co
•Price
loss$51,010
$24,700
New River Fuel Co..
Collins Colliery
1911-12.
1912-13.
lossS3S,698
485,964
487,387
Thereof
Net Profits-
—Total
-r-Output (tons)—
1912-13.
1911-12.
White Oak Puel Co
Salt Lake City, Mar. 15 1913.
Shipments.—There was mined and shipped to the
Co.'s smelter at International, Utah:
Smelting & Refining
In the future a sufficient amount will be charged to depreciation to com¬
pletely depreciate the plant account during the life of the coal in the mines.
We believe that with the extraordinary amounts charged off this year,
there will be no unusual amount to be absorbed in the future, excepting
such loss as may be entailed in disposing of the remainder of our retail and
distributing, yards.
The retail yards showed a loss last year of $65,302,
which we believe justifies our going out of the1'retail business.
It is only
fair to add that in our figures we have not taken into consideration any
appreciation in the value of our coal lands.
Outlook.—The losses from operation have been cut down very, materially
over past years and
with the changed conditions and better prices which
seem sure to prevail for coal during the coming year, a big improvement may
reasonably be expected before another 12 months have passed.
[As to sale in Aug. 1912 of $600,000 2-year 6% notes, auth. issue $750,000,
see V. 95. p. 548.
For coupon payments see V. 95, p. 1750, and for pur¬
chase of Commercial Tow Boat Co. of Boston, see V. 95, p. 1477.1
Output
Year ending Dec. 31 1912.)
Charming Jr., March 22, wrote in substance:
Pres. R. H.
—_
,
......
Consolidated Mining Co.
Utah
_
&c.—The
,
Profit and loss...u..
258,856
{Report for Fiscal
;
included in the $114,014 to be Deducted as Aforesaid.
$5,360
Receivership litigation
—$9,310 Toney judgment expense
1,000
Leasing of railroads, &c
16,801 Commission, Eureka sale
973
D epreciation,
Washington —_11,051 Taxes on Price property.
7,286
Depreciation, Louisville plant- 6,125 Live stock inventory
Sale of Richmond yards..
24,581 Sprague adjust, (coal purch.). 14,000
Plant impairment (tipple, &c.) 7,527 Mds. inventory (re-valuation) 10,000
Data from Statement by
Due New River Co.
After deducting reserve
Extraordinary Itmes
Improvements,
$
Capital stock
Total..
..8 ,466,722 8,890,929
..8,466,722 8,890,929
for depreciation, $593,504.—V. 96, p. 946.
Total....
e
against a loss in the previous year
430,518
receivable
1912.
$
Liabilities—
5,645,400 5,651,000
1,524,682 1,350,370
424,148 Inter-comp., payable
813,485 1,071,226
371,064
575,843 Accounts payable...
190,034
286,575
93,806
126,900 Notes payable
69,260
498,051 Pay-rolls
75,006
91,434
46,626
40,910 Royalties.
77,684
88,365 Contingent payables.
receiv'le
Mdse.,feed,furn.,&c.
Accounts receivable-
Earison the from the above amount, leaving a aggregating $114,014, should
deducted following extraordinary charges, net operating loss of $97,900,
as
$
a5.508.178 5,810,919
826,352 1,066,937
-
Inter-comp.
Notes
1913.
1912.
$
Assets—
the
supervision of the White Oak Coal Co. with prospect of making the dock a
valuable asset, furnishing storage for coal at times when the market does
not take it freely.
'
Great Kanawha Colliery Oo.—The lease of the Eureka Mine having proven
to be a losing proposition, has been sold at a satisfactory price.
The Great
Kanawha mine is located some distance from our other mines and we have
therefore leased same on a royalty basis.
Electric Power.—A contract has been entered into with the Virginian Power
Co., which has begun the erection of large power plants in the New River
district, for the furnishing of power to all our mines.
This should decrease
by at least Acts, per ton the cost of our coal. This power will be ready for
delivery early in the fall of 1913 (V. 95, p. 1213; V. 96, p. 1845).
i' Results.—It is customary to make coal contracts for the coal year, which
runs from April to April.
Therefore in June, when the present] manage¬
ment took charge, we found that the company had contracted for a large
amount of coal at the low price prevailing on April 1 1912, and the amount
of contract coal was so heavy that we had practically no coal' to sell at the
high prices prevailing last winter.
This, in connection with the heavy ex¬
pense we were put to on account of the receivership proceedings, and the
clearing up of many unsatisfactory conditions, made it impossible for us.to
show a profit for the year ended March 31 1913.
This report shos an apparent loss of 8211,914, but for purposes of com-
SHEET OF SUB-COMPANIES MARCH 31.
CONSOLIDATED BALANCE
by the former
Lakes Coal & Dock Co. of Minneapolis,
been contracted for at prices that were un¬
Coal & Dock Oo.—The contract entered into
Lakes
Great
management with the Great
whereby a large tonnage had
665
CHRONICLE
THE
1913.]
ACCOUNT
YEAR
ENDING
APRIL
1913.)
30.
Deduc'ns (con.) 1912 -13.
1912-13. 1911-12.
000
...$351,390 $281,348 Bond sinking fund $20,
96, 390
60,0001 240,000 Balance, surplus.
Pref. div., 7%—- 175,000/
BALANCE SHEET APRIL 30 1913.
Net
profit
Deduct—Bond int.
Assets—
-
Profit and loss
Liabilities—
Common stock
$3,500,000
2,500,000
♦After deducting reserve
company
$41,348
Liabilities (con.)—
estate,
bldgs, maFirst M. 6% bonds—
chinery, &c
$5,995,219 Bank loans— — —
Equities, prepa'ts&invest.
132,561 Accounts payable.
Stock on hand
2,270,905 Bills payable
Cash on hand, &c
36,980 Bad debts reserve
Accts. & bills payable
1,016,663 Contingent account
Sinking fund
Total
$9,452,328 Depreciation reserve..,
Real
Preference stock
1911-12.
Total
$980,000
1,629,000
149,993
404,497
4,947
9,602
20,000
15,000
—^4239,289
...
—
...
—
.......
$9,452,328
for depreciation, $15,000; alterations, $2,008;
organization, $4,124; factory organization, $4,686, and expenses
,.>852.—V. 95, p. 178.
'
applicable to last ye
THE
GENERAL
INVESTMENT
CHRONICLE
Algoma
Central
&
isfactory
Bay Ry.—Bonds.—The
further £97,400 1st M.
5s, making the total listed £1,706,200.—V. 96, p. 486.
a
Atchison Topeka & Santa Fe Ry.—Leases.—The stock¬
holders will vote Oct. 23 1913 upon taking leases of the rail¬
road and property
of the Verde Valley Ry. Co. and the Dodge
City & Cimarron Valley Ry. Co,.—V. 97, p. 519, 442.
»•
Canadian Pacific Ry.—Lease and Mortgage of
Subsidiary.
duplicate original of an indenture of lease, dated June 2,
Valley Ry. Co. to the company, and also of
the mortgage of that company, dated June 2, made between
the company, the Canadian Pacific and the Royal Trust Co.,
were deposited in the office of the
Secretary of State for Can¬
ada at Ottawa on Aug. 25.—V. 97, p. 594, 529, 514.
—A
The full 5% interest has been declared for the year ended June 30 on the
small amount of
ing, just
first, second and third preference income bonds outstand¬
in the previous year.
Compare foot-note to balance sheet,
as
V. 95, p. 1037.—V. 95, p.
1683.
Central New England
..
Ry.—Earnings.—
as
Mid-Crosstown
Ry.,
New
York.—Application.—The
S. Commission will on
Sept. 11 hold a hearing on the
application for permission to issue stocks and bonds to an
amount to be fixed by the
Commission.
The Third Ave. Ry. also asks for
authority to purchase
the securities and to provide for such
purchase by issuing its
own
refunding mortgage 60-year 4% bonds up to the amount
of $500,000.
Compare V. 95, p. 1403.
P.
National
Forty-nine
dated Oct.
int.
on
Net (after
Earnings.
$3,708,971
3,468,626
1912-13
1911-12
—V. 96, p.
Taxes).
$1,614,828
1,584,044
New
a?d
York New Haven
&
Hartford
RR,—Earnings.—
to issue $67,552,400
6% convertible bonds,
with the results shown in the annual report for
the previous year as follows:
$58,635
$75_9,047
Interest,
Balance,
Rentals,&c. Surphis.
$58,635
$759,047
$914,416
39,324
809,683
813,685
Other
Gross
Net (after
Other
{RR.)
Taxes.
Income.
$
June 30.
$
$
Year
Fixed
Dividends
Balance,
Charges.
Paid.
Deficit.
$
„
$
1912-13.-64,933,065 18,316,855 10,063,785 19,458,403
1911-12..6S,613,503 20,424,330 10,303,108 17,341,887
See Connecticut
Chicago & North Western Ry.—Purchase.—The share¬
holders will vote Oct. 16 on purchasing the
subsidiary
St. Louis Peoria & North Western Ry. See V. 97,
p. 594.
Chicago & West Towns Ryv—Consolidation—Mortgage.
—Tho company, which has been incorporated in Illinois with
$1,000,000 common and $1,000,000 6% cum. pref. stock, in
$100 shares, all
ofjwhich has been issued, has taken
County Traction Co. and Suburban RR.
over the
The company has
made
a mortgage
to the Harris Trust & Savings Bank of
Chicago, as trustee, to secure an issue of $750,000 5-year
6% gold bonds dated Sept. 1, of which $556,000 have been
issued.
The bonds are subject to call at 101 and interest
on any interest
day (Mar. 1 or Sept. 1).
President, Willard
M. McEwen; Sec., Charles F. Probst.
(V. 97, p. 443.)
Connecticut Co .—Earnings.—
Taxes
'"
$
(7^)13,486,563 4,564,325
(8)
14,315,540
929 989
Earnings of Subsidiary Companies—
Jersey .—Government Suit.—
V. 97, p. 595.
Co.,
Rhode Island Co. and New England SS. Co.—
Norfolk & Western Ry.—Listed.—The New York
Stock
Exchange has authorized to be listed $17,139,000 convertible
10-25-year 41^% bonds, due 1938, on notice of exchange for
outstanding subscription receipts, and also $1,214,000 addi¬
tional on notice of sale, making the total amount to be listed
$18,353,000 (V. 96, p. 360, 653, 948).
Of the bonds which were offered to stockholders of record Feb.
17 1913
at par, $17,139,300 was subscribed for and the
remaining $1,213,700 will
be held in the treasury until sold.—V. 97, p. 360.
Oregon & California RR.-—Appeal.—The company has
appealed from the decision of Judge Wolverton, forfeiting
the Government the lands involved in the
grants to the
to
which suit was brought some years ago.
1298; V. 92, p. 1243; V. 88, p. 376.
company, on
pare
V. 96,
Com¬
p.
Pennsylvania RR.—All Sold.—Kuhn Loeb & Co. an¬
that the $19,700,000 4J^% general freight
equipment
trust certificates which they recently offered have all been
sold (V. 96, p. 1702, 1773).—V. 97, p. 596, 238.
nounce
Other
Int.,RentBalance,
Earnings.„ Earnings.
Paid.
Income.
als,&c.
Surplus.
1912-13 —$8,454,624 $3,082,923 $496,824 $62,078 $1,039,154
$1,609,021
1911-12
8,030,621
2,918,321
449,247
62,541
1,012,539
1,519,075
—V. 95, p. 818, 481.
•
.
series
par
Commission
Income.
See Reading Co. below.—V. 95, p. 812.
Net
2d
The income account for the year
ending June 30 last, which
was filed with the
company's application to the Mass. P. S.
Compare V. 97, p. 595, 365.
Gross
bonds
payment at
Cclony Trust Co. of Boston, National Rail-'
ways of Mexico, N. Y... or Glyn, Mills, Currie &
Co., 67 Lombard St..
London, E. C.—V. 97, p. 595, 365.
134.
Central RR. of New
June 30.
Year—•
Railways of Mexico.-—5% Bonds Called.—
($49,000) equipment collateral 5% gold
1899, of the Mexican Central Ry., for
2
Oct. 1 at either the Old
$1,614,828
Gross
Year—
on
compares
1912-13
Jane 30.
property have been very sat¬
the common stock, the earn¬
dividends have been discontinued
expended on the extensions.
President William Buchanan
months ago announced that the
road would sell no bonds for some time
the cash resources were sufficient
for all purposes.—V.
95, p. 1198.
some
from the Kettle
Central of Georgia Ry.—Income.Interest.—
,
being
ings
Hudson
Exchange has listed
xcvii.
with Natchez, giving the
railway a connection with the Illinois Central RR.,
and also other connections at that
point.
The extension crosses rich rice
and cotton lands.
While the earnings of the
NEWS.
RAILROADS, INCLUDING ELECTRIC ROADS.
London Stock
[Vol.
__
...
,
County Traction Co., Chicago.—Successor.—
Philadelphia Company, Pittsburgh, Pa —General
5s, also Income Bonds for Loans and Advances.—'
See
See Chicago & West Towns Ry. above.—V. 97,
p. 443.
Pittsburgh
Elmira &
Williamsport RR.—New Coupon Sheets.—The
due Oct. 1 1913, being the last one attached to the
$570,000 5% income bonds (due Oct. 1 2362), holders are
requested to present their bonds, after that date, to the
Treasurer of the Pennsylvania RR. Co., Broad St.
Station,
Phila., in order that the new sheets of coupons may be at¬
coupon
tached
thereto.—V.
Florida East
89, p.
Coast
1667.
Ry.—2^% Int.
on
Incomes.—The
directors hav6 declared interest at the rate of
23^%, payable
Nov. 1 1913, for the fiscal year ended June 30, on the
$20,000,000 General Mortgage Income 5% 50-year gold bonds.
This is the
same
as declared last
year, but compares
respectively, in 1911 and 1910, the first
amount
with 4% and 33/2%,
distribution.^-V. 96, p.
1840.
Galveston-Houston Electric Co.—Increased Dividend.—
A semi-annual dividend of 3% has been declared on the
$3,-
000,000 com. stock, payable Sept. 15 to holders of record
Sept. 6, comparing with 23^% in Mar. 1913, 2% in Sept.
1912
96,
and
p.
1
419.
% % from Sept. 1909 to Mar 1912, incl.—V*.
'
7
•
Halifax Electric Tramway Co.—To Retire Bonds.—
The Board of Public Utilities met Aug. 29 to consider the
petition of the
company for leave to issue $600,000 additional common shares for the pur¬
as now
explained,, of redeeming $600,000 bopds due in 1916, any
premium to be used for extensions and improvements.
See V. 97, p. 594.
pose,
Hudson & Manhattan RR.—Outlook.—The
been officially revised:
'
v
following has
;
Pres. Wilbur C. Fisk says: "The company is out of the, woods and I
pect steadily increasing business, with future earnings showing good
over
previous periods.
ex¬
gains
For the five months ended June 30 1913 operating
expenses were higher than in 1912, but this
adjustment.
That is all passed, and from
was due prinicpally to the re¬
now on we shall bo able to
operate on rock bottom."
In the five months ended June 30 1913 $67,450 was included in
operating
expenses for depreciation, contrasting with $21,235 for same period in
1912,
but in that year no depreciation was charged after
April 1.
Interest
,
charges for the five months included some interest on floating debt that ex¬
isted prior to the readjustment.
This charge will partially offset interest
on the
$3,461,000 First Lien and Ref. M. 5% bonds issued for cash under
the readjustment plan, which was not included in the income
statement for
the five months, as the bonds were not issued until this week.
Hereafter
interest charges will not differ materially from those of the five months.
Traffic this month is averaging 141,000 passengers per day, which is a
substantial increase over last year.
The Newark traffic is running between
28,000 and 29,000 a day, as against about 28,000 a day in the best
period
last year.
In May 1913 the daily average went up to 32,000.—V. 97, p.
594, 298.
Louisiana & Arkansas Ry.—Eastern Extension-—Bonds.
—The eastern extension from Jena, La., to the
Mississippi
River (46 miles) is making good progress, and it is in
opera¬
tion
as
The
far
as
Jonesville.
line is laid with 75-lb. rail and ballasted with durable cement
The large steel bridge over the Wachita River, costing about
new
gravel.
$400,000, is completed and in
use.
When completed this line will connect
Pittsburgh Railways below.—V. 97,
p.
Railways.—General. M.
Bonds.—'This company recently
filed
M.
596, 444.
5s—Also
Income
mortgage to the Guar¬
anty Trust Co. of New York, as trustee, to secure not to
exceed $20,000,000 General M. 5% 40-year gold bonds.
The company has also made another issue
consisting of
$10,000,000 income bonds, which have-been delivered also
the
to
Phila.
Company, representing advances and loans
made in the past to the Pittsburgh
bonds are not part of the General
a
subordinate
a
Railways Co., but these
Mortgage issue, but are
security.
•
•
The General Mortgage is dated March 31 1913. • Interest A. & O.
Bonds subject to call, in whole or in part, on any interest date at 105 arid
int. after April 1918: $4,000,000 are to be used to retire Southern Traction
bonds, $4,550,000 for betterments and imprdvements to existing lines,
$1,450,000 go to the Phila, Company to reimburse it for advances, and
$lO,000,000 of bonds are to be issued in the future for improvements and
betterments, on the basis of 85% of the cost, as stated.—V. 97, p. 444.
Reading
Co—Government
Suit.—The
Government
on
Tuesday filed a new suit in the U.S. District Court at Phila¬
delphia against the company and allied railroad and coal
companies, alleging, violation of both the Sherman Law and
the commodities clause of the Inter-State Commerce Law,
and
demanding the dissolution of the alleged''hard-coal trust"
which, it is claimed, have attempted to monopolize the pro¬
duction and transportation of anthracite.
(Compare V. 95,
p. 1684; V. 96, p. 554, 1090, 1425; V. 97, p. 366:)
The
corporations named
as
defendants include the Reading Co., Phila.
& Reading Ry., Phila. & Reading Coal & Iron Co., Central RR. of New Jer¬
Lehigh & Wilkes-Barre Coal Co., Lehigh Coal & Navigation Co.,
sey,
Wilmington & Northern RR., Lehigh & Hudson River Ry. and Lehigh &
New England RR., and there are 9 individual defendants, officials connected
with the defendant companies.
It is alleged that competition was restricted:
(1) By uniting under a single control the Reading Coal Co. and WilkesBarre Coal Co., competitive owners," producers,
shippers and sellers of
anthracite, together owning or otherwise controlling considerably more
than 50% of the unmined deposits and marketing about 25% of the annual
^(2)5By
uniting under a single control the Reading Ry. and the Central
RR., competitive inter-State carriers, together transporting approximately
of the totai output of anthracite moving from the mines.
(3) By making the Reading Holding Co. as the controlling stockholder
of the Central RR. a party to the alliance and community of interest be¬
tween the latter company and the Navigation Co., thereby confederating
and combining: (a) The coal business of the Reading Coal Co., WilkesBarre Coal Co. and Navigation Co., competitive owners, producers, buyers,
shippers and sellers of anthracite, together owning or otherwise controlling
over 63%
of the entire uninined deposits, and marketing about 30% of
the annual supnly; (b) the Reading Ry. and its competitors, the Central
RR. and the Wilmington & Northern RR. and the Lehigh & Hudson Rivep
Ry., operating as an integral part of a through route, from the anthracite
mines to points in New England, which is
potentially competitive with the
combined rail and water routes from the mines and points in New England
operated by the Reading RR. and the Central RR. of New Jersey: and
(c) the canal owned and operated by the Schuylkill Navigation Co. and the
canal operated by the Navigation Co., the canals being the only water routes
from the anthracite fields to tidewater in operation.
In furtherance of the alleged monopoly, the Reading Coal Co., it is stated,
has purchased from other producers from 800,000 to 1,400,000 tons of
anthracite annually, thereby giving the coal company control of upward of
85% of the total shipments of hard coal over the Reading Ry: Co.'s lines.
33 1-3%
Sept. 6
Substance of
That
defendants
the
of
Prayer
have been
C. S. W. Packard and G. H. Walker, with George
Petition.
RR.
constitutes
to issue
Department
trust
now
'
,
agreement
on
United Railways &
.
upheld by the courts,should go far toward
actual and potential conlpetition in the coal fields
•
.
.
of its concentration in so small a territory—
it is contained in Eastern Pennsylvania in an area of.about 483 square miles
—lends itself peculiarly to efforts to monopolize its ownership.
It has come
about that six railroad companies and the coal-mining companies affiliated
with them now own or control about 90% of the entire unmined area of
anthracite.
Of these companies the Reading is by far the largest.
The
others are the Lehigh,,the Delaware Lackawanna & Western, the Central
RR. of New Jersey, the Erie and the New Yprk Susquehanna & Western.
—V. 97, p., 366..
Rhode
June 30.
Year—
.
Island
Gross
'
"
Co .—Earnings.—
'Net
Taxes
'V
Other
Interest,
Balance,
Earnings.
Paid.
Income. Rentals,,&c. Surplus..
1912-13, _-$5,322,64 6 $2,186,209 $425,176 $134,336 $1,225,319 $670,050
1911-12... 5.045,006
1,846,155
378,486
94.933
1,175,003
387,599
Earnings.
—V. 95, p.
St.
&
RR,—Default, &c~*The
semi-annual interest due Sept.. 1 on the $28,582,018 New Or¬
leans Texas & Mexico Division 4^s and 5s remains unpaid,
The receivers have also made no provision for interest on
the $2,600,000 2-year notes, dated 1912, which are secured,
by deposit of all the outstanding capital stock ($2,000,San
Francisco
000) of Now Orleans Texas & Mexico RR. and other collat¬
eral (V. 95, p. 751).
An order of the Court regarding this note intorest, which is payable Sept.
15, will, it is said, be asked fnr, and there is thought to be a possibility
that it
may> be ordered paid.
The
principal ($56,000) and also the interest due Sept. 15
the $1,176,000 New Orleans Texas & Mexico equipment 5s
will, it is announced, be paid at maturity.
on
Deposits of New Orleans Texas & Mexico Division Is/. M.
having been made m the payment of the
Sept. 1 interest on these bonds, the committee named below
nrges the bondholders to deposit their bonds at once under
the bondholders' agreement of May 28 1913, on or before
Oct. 1 1913, with the
depositary, the Columbia-Knicker¬
bocker Trust Co., 60 Broadway, N. Y., or at the St. Louis
Bonds— Default
Union'Trust Co. of St. Louis.
.
Committee:
•Clarke/£Carl
Willard V.
A.
King, Chairman; Stedman Buttrick, Lewis L
DeGersdorff, Lewis. B. Franklin, Alfred Lichtenstein,
Electric Co. of Baltimore.—'His-
tory and Description of Property and Securities—Alex. Brown
& Sons of Baltimore have published for the use of their clients
very complete 38-page pamphlet (dated April 21 1913),
describing the • company's .property and securities.
A map
of the railway system will be found on page 12 of our "Elec¬
tric Railway Section."
a
The
company's common stock was admitted to the Phila. Stock Exchange
May 19 1913, the amouat now listed being $19,688,400.
There have
also been listed in Phila. $25,911,000 1st consoL 4s due March 1 1949 and
on
$14,000,000 income 4s.—V. 96, p.
1841. 1631.
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Coal Tar Products Co.—Decree
Complied with.
counsel for the company, Barrett Mfg. Co. and other
by the Government on JVIarch 3 last, ap¬
peared before Judge Holt in the U. S; District Court on Thursday and
stated that his jclients had complied with the requirements of the decree of
the Court (V. 96, p. 717) within the six months' period therein named, in
regard to the re-formation of their organization, contracts and conduct of
their business, &c.
The Government's representative conceded the truth
of the statement.—V. 97, p. 46, 51,
John C. Snooner, as
defendants in the suit brought
American Gas & Electric Co.;—Controlled Co. to Dissolve.
See Electric Co. of America below.—V. 96, p. 1841.
.
..
"
American Ice Co., New
York.—Earnings, &c.—The fol¬
lowing is understood to be substantially correct:
The net earnings, after all charges, for July 1913, were about $650,000,
being nearly double the net of July 1912, while the net after charges for
the nine months ending July 31 was over $875,000.
It is therefore expected
that the company will earn at least $1,500,000 for the fiscal year ending
Oct. 31, or oyer 10% on outstanding pref. stock of the operating company.
In 1912 only 2.47% was earned.
*•
The management contemplate increasing the company's artificial ice
capacity in N. Y. City by 180,000 tons annually, one new plant to be on
Washington Heights and the other, if authorized by the board, in lower
Manhattan.
The.cost of the new plants should not exceed $750,000, of
which $550,000 can be obtained by sale of reserved 6% 30-year bonds up
to 75% of cost of the additions.
The new plants will increase the propor¬
tion of artificial ice supplied by the co. in N. Y. to 70%, contrasting with
65% at present„and with less than 20% in 1904, when Mr. Oler assumed the
management.
Compare V. 95, p. 482: V. 92, p. 58.
:.
;
.
American Piano
Co
—Official Changes.— '
C. H. W. Foster, who has been President of the company
since organiza¬
of the Board, a newly created position.
George G. Foster, formerly Vfce-Pres., has been elected President,
and
George L. Nichols, counsel for the company, becomes a Vice-President.
tion,
has been
Status
made Chairman
Aug. 1 1913.—Chairman Foster as quoted says:
In comparing
the bills payable Aug. 1 with those of Dec. 31, it should be
indebtedness at this time of year
Since the first of August the
company's bills, payable have already been materially reduced.
Both
sales and net profits so far this year arc ahead of 1912.
As 60% of our
business is done in the fall months, if we can hold our own and earn our
dividends in. the first eight months, we are doing well.
So far this year
wo have paid out $135,000 in dividends.
[The notes and accounts payable
as of Aug. 1 1913 were $2,084,495, offset by accounts and notes receivable,
$2,240,395, and merchandise, $1,741,966].—V. 97, p. 119.
remembered that American Piano s gross
is in anticipation of large fall business.
American Refrigerator
The
cars
of the company have
Transit Go.—-Business
—
replaced cars of the_Armour Refrigerator
Denver & Rio Grande RR.
This
Co. in handling produce and fruit on the
818, 481.
Louis
Chicago.—Successor.—
RR.,
West Towns Ry. above.—V. 97, p. 445.
See Southern Pacific Co. above.—V. 97, p. 522, 445.
tentions of the Government are
,
of June 15 1912, to exhaust a further sum of $541,153
See V. 97, p. 121; V. 96, p. 1428; V. 95, p. 55, 818,
Union Pacific RR.—^-Listed.—The New York Stock Ex¬
[Attorney-General McReynolds, it is understood, is considering the ques¬
combinations of coal-carrying railroads and
coal-mining companies, particularly the Lehigh Valley and the Erie and
their allied coal companies, but no decision as to probable action with refer¬
ence thereto has yet been reached.—Ed.]
Statement by F. R. Coudert, Special Assistant to Attorney-General.
The object of the present suit is to strike at the heart of the real situa¬
tion.
*
*
*
If this great combination of railways and coal mines
goas unchallenged, the policy of Congress will have been set 'Completely
at naught, and one company will, dominate the production and transpor¬
tation of anthracite coal.
It is with the object of dissevering these two
competing railway systems and of further forcing them in good faith and
completely to sever their connections with the coal mines now wholly within
their control, that this suit is brought.
The transactions complained of have taken place since the enactment of
the Sherman Anti-Trust Act in 1890,
This suit should test the ability of
the Government of the United S_ates to cope with the most important and
powerful of the great combinations in the necessities of life, and, if the con¬
and among the railroads.
Anthracite coal, by reason
deposit.
change has listed $20,157,100 Central Trust Co. certificates
of interest in capital stock of the Southern Pacific Co. and
has authorized $68,200,500 additional to be listed on notice
of issuance, making the total amount to be listed $88,357,600.
tion of attacking other alleged
restoring conditions of
Corporation.—Tenders of Notes.
Trust Co. is advertising for proposals to be submitted at
before Sept. 11 for the sale of 5-year 6% notes issued under
Suburban
•
*•
on or
See Chicago &
last by many years that of any producer.
In time; therefore, this combi¬
nation, if not dissolved, -will own or control every ton of commercially
available anthracite known to exist, and while, in almost any other branch
of industry it is at least possible for a monopoly to be broken by the influx
of frash capital, attracted by high profits, against a monopoly of anthracite,,
the supply of which is limited, there can be no protection—only the law can
*
For.—
1126.
This combination is the backbone of the alleged monopoly of anthracite.
It controls about two-thirds of the entire deposits, and its supply,^will out¬
afford relief.
Subscribed
over
Southwestern Utilities
&c.
of Justice.
80%
The Bankers'
violates the commodities clause. &c.
the
Co.—Over
in $88,357,600 of
its office
transportation in inter-State commerce over the Lehigh &
Susquehanna RR. and Lehigh & New England RR. of anthracite mined or
purcnased and at the time of transportation owned by the Navigation Co.
by
E. Warren as Secretary,
Milburn, Counsel.
9f)% of the certificates of in¬
the capital stock of the Southern
Pacific Co. (see V. 97, p. 445, 177, 50).
The remainder of
the certificates will be taken by the underwriting syndicate,
which is composed of over 600 members, who, it is said, will
receive only about 8% of their original subscription.—V. 97,
p. 597, 445.
'
;
'
That1 the
Statement
Pacific
Co. subscribed for
RR.
terest
a
violates the commodities clause,
&
Certificates.—The receivers of the New Orleans
shortly seek authority
$1,500,000 receivers' certificates.—V. 97, p. 445, 235.
Southern
That the transportation by the Central RR. in inter-State commerce of
or purchased and at the time of transportation owned by
Coal Co.
Ledyard
Under the option which expired on Sept. 2 the shareholders
of the Union Pacific RR. Co. and the Oregon Short Line
anthracite mined
the Wilkes-Barre
Carter,
and
Receivers'
combination, &c.
That the ownership by the Reading Co. cf a controlling interest in the
capital stock of the defendant Central RR. constitutes a combination, &c.;
and that the said Reading Co. dispose of such capital stock under the super¬
vision and direction of the Court to persons not its stockholders or agents
nor otherwise under its control or influence.
That the Reading Co. constitutes in and of itself a combination in re¬
straint of inter-State and foreign trade and commerce and, an attempt to
monopolize and a monopolization of a part of the same.
That the transportation by the Reading Ry. in inter-State commerce
under the circumstances.stated of anthracite, mined or purchased and at
the time of transportation owned by the Reading Coal Co. violates the com¬
modities clause of the Act to regulate commerce, and that the said Reading
Ry. and its agents be enjoined from further engaging in such transportation.
„
Y.,
Texas & Mexico, it is understood, will
.combination in restraint of inter-State and foreign trade and commerce, &c.;
and that the said agreement be canceled and the parties enjoined from fur¬
ther carrying it out unless they shall consent that it be modified (a) by
making the rental a fixed sum Instead of a proportion of the receipts from
the operation of the leased railroad; (b) by striking out the covenant re¬
quiring the Navigation Company to ship the greater portion of its output
over the leased railroad and also over the other railroads operated by the
lessee: and (c) by striking out the provision that rates between points com¬
mon to the canal operated by the lessor and the railroad operated by the
lessee shall be arranged by mutual agreement.
That the ownership of controlling interests in the stocks of the Lehigh &
Hudson River Ry. and Lehigh & New England RR. by the Navigation Co.
Central
N.
Broadway,
60
and are engaged in combinations and
conspiracies in restraint of inter-State and foreign trade and commerce
in anthracite, and are monopolizing a part of such trade and commerce;
and that they, their officers, directors and other agents, be perpetually
enjoined from further carrying out or maintaining such conspiracies,
combinations, &c.
That the ownership by the Reading Co. of controlling interests in the
stocks of the Reading Coal Co. and Reading Ry. constitutes a combi iation
in restraint of inter-State and foreign trade and commerce, &c.; and that
the Reading Co. dispose of such stocks under the supervision and direction
of the Court to persons not its stockholders or agents, nor otherwise under
its control or influence, and that pending such disposition it be enjoined
from voting or receiving dividends in respect of any part of the said stocks.
That the purchases of the output of other producers by the Reading
Coal Co. were and are in furtherance of the combinations and conspiracies,
and that such purchases in the future be enjoined.
That the ownership by the Reading Co. of a controlling interest in the
stock of the Schuylkill Navigation Co. constitutes a combination in re¬
straint of inter-State and foreign trade and commerce, and that the Reading
Co. dispose of such capital stock under the supervision and direction of the
Court to persons not its stockholders or agents, &c.
That the ownership by the Reading Co. of a controlling interest in the
stock of the Wilmington & Northern RR,, and the lease by the Reading
Ry. of the railroads of the latter constitute combinations, &c.; and that the
Reading Co. dispose of such capital stock under the supervision and direc¬
tion of the Court, &c. and that pending such disposition it be enjoined from
voting or receiving dividends 011 the said stock, and that the said lease be
canceled and the parties be enjoined from carrying it out.
That the agreement between the Central RR. and Navigation Co. for
the lease to the former of the Lehigh & Susquehanna *RR. constitutes a
and
667
RONICLE
THE
1913.]
explains the addition by the company, whichjs owned by the Gould lines,
of 3,500 refrigerator cars recently ordered from the American Car & Foun¬
dry Co., which gives it 8,500 refrigerator cars.
No friction, it is stated,
exists between the American and Armour companies, but the latter termi¬
nated the contract in order to handle more easily the increasing fruit and
produce business of Fla., Ga. and other Southeastern States.
This businass is growing rapidly in D. &
R. G. territory, Western Colorado, Utah
and Mexico, the three States having shipped last year
the principal shipments being from Western Colorado.
6,000 cars of fruit,
Potatoas and vege¬
refrigerator cars.
Additional facilities
of the new line will saou? large losses of fruit in this region which railroads
had been unable to handle at shipping time.—V. 96, p. 1631.
tables
required
4.300
additional
Appalachian Power Co.—Note Issue Underwritten.—
Bonbright & Co. and Jackson & Curtis have under¬
written $2,500,000 of a proposod $3,000,000 issue of 7%
collateral trust notes, to mature Sept. 1 1918, the remaining
$500,000 being reserved to retire $500,000 notes duo Nov. 20
1914.
The new notes will be secured by pledge of (a) the
ontire $3,000,000 issue of new 2d M.6% bonds, to bo dated
Sopt. 2 1913 and duo Sept. 1933, (b) $550,000 of the com¬
pany's 1st M. bonds of 1911.
The shareholders will moot on
Sept. 8 to authorize the new securities.
,
Wm. P.
.
The proceeds of the note
debt and rileeting the notas
issue will be used "for discharging the floating
du'e Nov. 20 1914 at or prior to maturity, and
for the purpose of providing working capital and funds for extending the
business and developing the properties."
See V. 96, p. 523.
Art Metal Construction
Co.—Acquisition, <Scc.—
See United States Metal Products Co. below
668
CHRONICLE
THE
Atlantic Sugar
Refineries, Ltd., Montreal.—Status
—
Construction of the refinery at St. John, N, B.f is stated to be making
rapid progress.and is expected to be completed, as promised, some time
next March.
Practically all of the $2,500,000 pref. stock, it is stated, has
been placed except about $250,000 reserved for the N. Y. market.
Murray, Mather & Co., Toronto, and N. B.
New York and Boston, have issued
property and its prospects.
an
Stark & Co., Montreal,
pamphlet describing the
illustrated
See V. 95,
p.
1685.
William H. Pierce has been elected President and George T. Almy, Treas¬
to succeed James T. Cummings and Edward Barker, respectively,
who also resigned as directors.—V. 89.
p. 209.
urer,
(Silk.) Co., Ltd., Canada.—
Owing to smaller profits for the quarter the directors have deferred the
payment,of the quarterly dividend of l%% on the $850,000 7% cum. pref.
stock usually paid Sept. 1.
Payments at that rate were made from Sept.
1911. to June 1913, inclusive.
While gross sales have, it is reported, showed
large increases, net profits have been disappointing.
Compare V. 96,p.490.
Boston & Corbin
See Boston & Corbin
Copper & Silver Mg. Co.—:Successor.
Mining Co. below.—Y. 96,
Boston & Corbin
p.
1704.
The company has been incorporated in Maine with $1,000,000 capital
stock (par $5), successor of the Boston & Corbin Copper & Silver Mining
Co., per plan V. 96, p. 1631.
Incorporators were: A. G. McPherson (Pres.),
Wm. S. Linne,2nd (Treas.) and Wm. M. Bradley (Clerk), all of Portland.
working cap¬
California Petroleum Co.—Common Dividend Omitted.—
The directors
in
on Wednesday decided not to make a quarterly distribution
the common stock in October next.
Payments of 1M % each were made
January, April and July last.
Secretary Norman Bridges says:
"Owing to tne existence of troublesome water conditions, necessitating
greater
development expense and to the fact that certain recently completed
are yielding a smaller average production than was expected, the usual
quarterly dividend on the common stock was omitted.
The production for
Aug. 1913 (last 2 days estimated) was 480,171 bbls. of oil, compared with
475,071 bbls. for Oct. 1912.
For July 1913 the production was 454,627 bbls.
The net earnings from organization Oct. 1 1912 to July 31 1913 have been
$1,784,970, out of which $1,207,432 dividends have beenfpaid, leaving a
surplus of $577,557, from which provision will be made for amortization
of development expenses and exhaustion of property. See V. 97, p. 239.
wells
Central New York Gas & Electric Co.—Sale.—
See Empire Gas & Electric Co. below.—V. 96, p.
1091.
Consolidated Gas Co. of New York.—Full
Opinion.—
The "Gas Age" of Noav York in its Sept. 1 number contains at length the
opinion of the P. S. Commission on which it based its decision in May last
granting the application to purchase the stocks of the New York & Queens
Elec. Light & Power and New York & Queens Gas companies (V. 96,
p. 1492).—V. 97, p. 301, 240.
Consolidated Gas, Electric Light & Power Co. of Bal¬
timore.—Stk.;—The following is understood to be correct:
The time limit for exchanging the pref. stock for the common stock of the
share for share, expired on Sept. 1, and there will be no extension.
While there is no official authority for the statement, it is certain that the
company,
plan to retire the pref. stock will be taken up again when conditions in the
financial world improve.
The pref. stock is a statutory lien on the prop¬
erty of the company and no new mortgage can be created ahead of it.
For
this reason it is necessary to-retire it in order that the mortgage under which
the debenture stock is issued may cover the lien on the property now pro¬
tecting the pref. stock.
The company has the right to call in the pref.
days' notice preceding the date for the payment of the dividend
at 120 and div. (see V. 96, p. 288, 363, 718).
stock oh 90
Debenture
Stock.r—Application, it is said, has been made to
the P. S. Commission for permission to issue $468,850 con¬
vertible mortgage debenture stock.
'
„
,
Sales for June 30 Years.-—""Baltimore Sun" reports:;
-
v
'
Gas, 1,000 cu. ft
Electricity, k. w. hours.
June 30
there
gas
1905-06.
1912-13.
Earnings for Fiscal Year ending June 30.—
Gross
Fiscal
Year—
Net (after
Earn'gs.
1912-713
.
Taxes).
6,114,973 3,151,792
•,
Incr.
3,611,312
2,453,407
.94,876,888
20,127,051
customers and 29,927 electric.
_____
112,688
were
Fixed
Charges.
.
Common
Pref.
Divs.
Balance,
Surplus.
Dividends.
1,476,767
47%
371%
810,672-
864,353
1911-12
5,465,287 2,822,400 1,417,268 381,603 (5%)363,147 660,382
Out of surplus, $864,353 for year 1912-13, $460,000 was reserved for
renewals, &c., against $455,527 for year 1911-12, leaving net surplus
$104,352, against $204,857.i—V. 97, p. 53.
*
•
for-
year
Electric
Co.
„
National
Asked to confirm
a
Watch
Co.,
newspaper
Chicago.—Earnings —
report of tire company's earn¬
ings, Sec.-Treas. J. R. Perry Aug. 29 wrote:.
'
We have given out no authoritative statement and can only say that the
business of the company for 1913 bids fair to show an increase, both in
volume and profits, over the year 1912.
,
.
JThe item submitted was published about Aug. 22, and said:
"The
earnings for 1913 will show an increase of fully 12%, with a larger
percentage increase in net.
January increased 12%, Feb. and March in¬
creased 40% each, April and May increased 20% each, June and July com¬
bined decreased 2Yi%, August to date increased 10%. „Tho summer de¬
cline was merely the result of unusually hqavy spring buying, in view of
which and also of the corn-belt
cfop losses the recent increase ih orders
has been somewhat surprising."]
See V. 97, p. 368.
gross
Empire Gas & Electric Co.—Increase of Stock, Ac.—
to serve in case of emergency
and
assure
continuity of service.
The
new
main will give a gas supply to Phelps and the hamlet of Oaks Corners, and
also make it possible to extend the line to Clifton Springs.
The company
1914.—V.
96,
p.
they
of 75 cts. per 1,000 cu. ft. for gas,
beginning Mar. 1
1091.
International Cotton Mills.—First Dividend.—
An initial quarterly dividend of 1%% was paid on Sept. 1
000,000 7% cumulative preferred stock.—V. 96, p. 1705.
on
the $3,-
International Typesetting Machine Co., N. Y.—Suit.
Linotype Co.
A first action which was recently announced is
infringement of 3 letters patent.—V. 96, p. 1301.
outstanding
Co.—Bonds
($15,000)
6%
now
pending for alleged
Called.—
1st M. gold bonds dated Oct. 1
atContinental
Chicago.
1900 have been called for payment at par and int. on Oct. 1
& Commercial Trust & Savings Bank,
Jackson
Company, Nashua,, N. H.—Decision.—
Messrs. Martin and Hodgman. the masters
epnointed by the U. S.
cuit Court in New Hampshire, in the case of Gardiner Investment
to
cash
a
equivalent of what would be their dis¬
by the Court.
The
masters
figure that if May 1911
adopted, it would be $3,228 13.
The New Hampshire Supreme
Court some time since 'approved the
consolidation on the basis of the offer of $975 per share, the then quoted
market price of the shares.
The Federal Court follows the principle laid
down by the U. S. Supreme Court in the Pewabic Mining Co. case a dozen
or
more years
Kansas
ago.—V. 95,
p.
1405, 1125.
City (Mo.) Gas Co.—Earnings.—
The gross receipts for the first 6 months of 1913 are
reported as $1,063,992, compared with $1,444,992 for the corresponding period in 1912.
The
of the decrease is said to be the inability of the Kansas Natural Gas
Co. to furnish gas to the company in sufficient quantity for distribution.
cause
Lake
Superior Corporation.—Mr. Lea Retires.—
1.—V. 96, p.
resigned
1843.
as
Vice-Pres. and director, effective
Lehigh Coal & Nav. Co.—New Subsidiary—Suit.—
The Panther Creek
RR., which is controlled by the company, has filed
$250,000 to $3,000,000.
It will
a point near Nesquamahoning to a point near
Tamaqua, Pa., where it will connect with the Lehigh & New England RR.,
whose extension from Danielsville to Tamaqua, Pa., 32 miles, was placedin operation July 8 1912 (V. 96, p. 1087).
The new line will use tne old
Switchback tracks and those about the mines of the company which were
laid to carry coal in and about the Panther Creek Valley.
The growth of
the towns and the merchandise traffic has made it necessary to use these
tracks in the heavy transportation service of thp Summit Hill, Nesquehoning
and Panther Creek district.
As to Government suit, see Reading CO.
under "Railroads" above.—V. 96, p. 1843.
notice of increase of authorized stock from
build
a
25-mile line from
Lehigh & Wilkes-Barre Coal Co.—Government Suit.-~See Reading Co. under "Railroads" above.—V. 95, p. 970.
Mangum (Okla.) Electric Co.—Earnings.—
Gross
Year
Op.Exp.
Net
Other
Bond
Balance,
&Taxes. Earnings. Income.
Int.
Surplus.
$23,699
$22,546 .$275
$7,500
$15,321June 30 1912—.
37,004
19,668
17,336
7,500
9,836
Dividends at the rate of 4% yearly have been paid on $206,000 stock since
Jan. 1 1912.—V. 96, p. 1159.
Earnings.
$46,245
Ending—
July 31 1913__
Mergenthaler Linotype
See International Typesetting
Co.—Suit.—
,
Machine Co. above.—V. 95, p. 1204.
Mexican Petroleum Co., Ltd.
(of Del.), Los Angeles.—
Option to Subscribe for Stock of Petroleum Transport Co.—
by circular of Aug. 19. offered to its shareholders of record
Aug. 30 the right to subscribe at par ($100 a share),on Or before Oct. 15,for
its holding of $900,000 stock of the Petroleum Transport Co. in proportion
to their respective holdings.
The entire amount has been underwritten at
par by Pres. E. L. Doheny.
The circular further shows:
Petroleum Transport Co. owns outright, or owns all the stock in corpora¬
tions which own outright,six ocean-going oil steamers, three now in commis¬
sion and the remainder to be delivered by Sept. 30, all chartered to Huasteca
Petroleum Co. for three years at rate of $2 40 per ton per month gross dead
weight carrying capacity,-viz.:
(a) In commission, two of 6,500 tons
(approx. 45,000 bbls.) each and one of 9,750 tons (65,000 bbls.); (6) Under
construction in England, one of 9,700 tons (65,000 bbls.), one of 5,000 tons
(35,000 bbls.), and onp of 3,000 tons (21,000 bbls.).
Also owns the stock
of the Mexican Marine Co., which operates two steel steam tugs in harbor
of Tampico and Gulf of Mexico, one 700 h. p., the other 400 h. p., con¬
stantly employed in service of HuasteCa Petroleurn Co.
New York office. 52 Broadway.—V. 97, p. 526. .■
The company,
Mississippi River Power Co.—Stock Listed in Boston.—
Exchange on Aug. 25 listed" $6,000,000 pf
and $16,000,000 com. stock of this Stone & Webster Co.
The Boston Stock
Balance Sheet June SO 1913 (Total each side $42,500,000).
Prop., plant& contracts.$40,337,9361 Common stk. (par 9100) .$16,000,000
Paym'ts for add'l const'n
1,399,134 Pref. stock (par $100)—
6,000,000
Int. during construction.
697,708 1st M. bds.(V.97, p.302) 18,000,000
Cash
65,222 Notes payable
2,500,000
Of the stock, $2,000,000 pref. and $500 common was paid for in cash.
Remaining $4,000,000 pref. "and $15,999,500 common was paid for by
transfer of property,rights and franchises of Keokuk & Hamilton Water
Power Co. free of all encumbrances and by construction of plant and acqui¬
sition of lands, &c., for use in connection with it.
Each share is entitled
to one vote.
Pref. (p. & d.) stock is entitled to 6% quarterly, preferential
dividends cum. after Jan. 1 1915.
The great dam at Keokuk was finally
dedicated Aug. 26.
Bonds Aug. 2 $19,500,000.
See V. 97/, p. 302.
Consol.
Gold
Mining
Co.—Receivership.—
dispatches announce the appointment on Aug. 23 by Judge Law
McCarron of Livingston, Mont., as receiver of the property,
mines, mills and water-power plant of the company having $10,000,000
stock and property stated to be worth half a million dollars.
The comPress
of George B.
Elaint, of stockholdersreceiver, accountingPittsburgh, Atlanta, was filed on
ehalf asking for the
in West Virginia,
and an injunction, New York,
Chicago and Montana, and alleges an attempt on the part of T. A. Barney
of Chicago, Secretary of the company, to deprive stockholders of properties
and charging him with obtaining the sale of the property by fraud and pur¬
chasing it himself.
,
Montpelier (Vt;) & Barre Light & Power Co.—Stock.—
stockholders recently authorized an increase in capital stock from
$2,100,000, consisting of $1,100,000. 6% cumulative preferrod and $1,000,000 common stock, to $2,310,000, the new stock, which is to be preferred,
to be issued in the discretion of the directors.
See V. 95, p. 1331.
The
National
Sugar Mfg.
Co.—Bonds Called.—
Forty 1st M. bonds, for payment at 105 and int. on Oct.
Loan, Trust & Safe Deposit CO.. Buffalo, trustee.—V. 94. p.
.
1 at Buffalo
986.
(Mass.) Gas & Edison Light Co.—
The stockholders have
authorized the issuance of $265,000 new stock for
improvements and additions.
The new stock is to be offered to sharehold¬
ers pro rata to the extent of one-fourth of their holdings at 200 after approval
by the Gas and Electric Light Commissioners.—V. 94, p. 1253.,
New Haven
(Conn.) Gas Light Co.—Stock Increase.—
approved the amendment to the charter increasing
capital stock from $5,000,000 to $10,000,000.
When the
$500,000 now stock offered In Nov. last is fully paid, on July 1 1914, the
outstanding capital stock will be brought up to $5,000,00
The new stock
will be issued from time to time as required.—V. 96, p. 493.
The stockholders have
the
authorized
New York Mutual
Gas Light Co.—New Director.—
Brady, oldest son of the late Anthony N.
director to succeed his father.—V. 96, p. 1427.
Nicholas F.
a
Brady, has been
New York & New Jersey Water Co.—Authorized.—
P. U. Commission on July 25 granted permission to the
The New Jersey
The Mergenthaler Linotype Co. on Aug. 29 filed a second suit against
the company for alleged infringement
of 25 letters patent owned by the
Interstate Power
entitled
sale has been denied
elected
All of the
are
tributive share of the sasets of the
company.
The report sustains the view
that the payment should be ascertained on the basis of a replacement value
as the only adequate method of
computation, inasmuch as a public auction
New Bedford
The P. S. Commission has authorized the company to issue its $300,000
preferred and $100,000 common stock to acquire the capital stock cf the
"Central New York Gas & Electric Co.
The company has a.contract with
the Semet-Solvay Co. as lessee of the Empire Coke Co.'s plant to furnish
gas to the holders at 35 cts.
It is proposed to build a high-pressure gas main
from Geneva to Newark and tl ere connect with the high-pressure main
that connects Newark with Palmyra and Lyons, and also to erect a new gas¬
holder at Newark and another at Lyons, and construct 2H miles of new
mains in the two towns.
A new water gas set will be installed at Newark
announces a new rate
that
Montana
of America.—Dissolution.—
The stockholders of the company, most of whose stock has been acquired
by the American Gas & Electric Co., will vote on Oct. 7 on dissolving the
corporation.—V. 94, p. 1188.
Elgin
the terms offered to the minority (non-assenting) stockholders under the
consolidation with the Nashua Mfg. Co. ($925 a share) are inequitable and
about Oct.
,
on
against the company, acting under instructions of Judge Aldrich, hold that
J. Tatnall Lea of Phila. has
Mining Co.—New Company.—
With the payment of $40,000 debts of the old company the
ital of the new company was expected to be about $100,000.
xgtii.
were taken,
the replacement value to which the
minority stockholders
would be entitled would be [$2,721 27 per
share, and if May 1913 were
Barnaby Manufacturing Co., Fall River, Mass.—
Belding, Paul Corticelli
[Vol.
Cirr
Co.
Water Co. a 30-inch steel pipe
therefor $125,000 bonds.
The
denied an application of the company to issue
securities to purchase the Bayonne pipe line, together with the uncompleted
pumping plant at Belleville owned by the Suburban Co. through its owner¬
ship of the stock of the Essex Pumping Co., on the ground that the price
to be paid was too high, but stated that it would approve the purchase of
the pipe line alone at a moderate figure.
Compare V. 97, p. 599.
company to purchase from the Suburban
line in Avenue E, Bayonne, and to issue
Board, in a recent decision,
Offer Rejected.—„
See Bayonne,
N. J., in "State and City Dept."—V. 97, p. 599, 302.
Old Colony Gas
Co., Braintree, Mass.—Output.—•>
E. M. Farnsworth & Co., Boston, .report the output for August as
5,912,000 cu. ft., compared with 5,531,000 cu. ft. the previous month and
3,755.000 cu. ft. in Aug. 1912.-—V. 96, p. 493, 1160.
V "
i
believed that no further loss2S
Phelps, Dodge & Co.—Copper Production.—The produc¬
months ended Aug. 31
1913,
was
93,578,224 lbs.,
pared with 90,732,444 in 1912, as follows:
Pounds.
1913.
1912.
11,510,711 10,892,391 May
10,519,051 10,230,280 June...
Pounds.
March
April
.
_
—
under
Total (pounds) for eight months. 1
93,578,224 90,732,444
Customs ores business added a further amount for the eight months of
9,231,426 lbs. in 1913, against 6,149,834 in 1912.—V. 97. p. 55.
Plymouth
Cordage
An extra dividend of 2%
Co.—Extra
Dividend.—
'
.
has been declared, payable Sept. 15 to holders
of 2% on
1912, 3%
1910, 2% in 1908, 4% in 1907, 3% in 1905 and 6% each
each in 1909 and
Pocatello
(Idaho) Water Co.—Decision.—
Judge Dietrich in the U. S. District Court in May last hetd that the com¬
had forfeited its franchise (granted in 1901) by violating one of the
requirements, viz., that of furnishing sufficient water to sprinkle lawns.
The franchise contained a clause binding the city not to construct a munici¬
pany
pal water plant.
If the decision is sustained on appeal, the city will, it
be free to construct a water system if it desires.—V. 94, p. 356.
appears,
Pullman Company.—Steel Cars Replacing Wooden Cars.—
Touching the request of the Inter-State Commerce Commis¬
sion for a statement showing the number of wooden cars and
also of steel cars in use, an official is quoted as saying:
has manufactured nothing but steel cars for the last three
We are making them as rapidly as possible and are supplying them
railroads, automatically retiring the wooden cars.
IThe request
of the Commission followed the accident at North Haven, Conn., in which
some 21 persons lost their lives and many were injured.l
The company
years.
to all the
Unofficial
Statement
Published
One important problem before
on
or
about Aug.
20.
'
the Pullman management is involved in
bills pending in Congress for substitution of steel for wooden cars.'
There
are four or tive such measures, and the longest time adowed is five years.
Standard Oil Co.
Such legislation would affect, the railroads
relatively more than the Pullman
cars, of which 30% are all-steel.
It has been
5% depreciation, but an enormous allowance
would have to be made if the company could no longer utilize standard
wooden sleeping cars as tourist sleeping cars.
The difference between the
old equipment scrapped and the new equipment built, 2H%, has been
taken care of pretty well by increase in travel, but as an ordinary proposi¬
tion, general renewals would require only 5%, because a standard sleeping
car can be used as such 15 to 20 years, and then converted into a.tourist
sleeping car for five to ten years more.
Depreciation for all-steel cars is
an unknown quantity, but presumably would be much less than 5% after
Co., which has less than 7,000
customary
wooden
allow,
to
The company
a
.
Quincy (Copper)' Mining Co .^-Dividend Reduced.—
Previous Annual Dividend Record
02.
28
—V. 96, p.
.•
(Per Cent) Since 1899.
*05. '06. '07. '08. '09. '10. '11. '12.
1913.
24
50
54
18
16
20
16
20 Mar.,.6: June, 5
03. '04.
22
20
1428;
•
of California.—Statement.—
has issued a statement in reference to the recent Act of the
carriers and imposing
license of
50 cents
barrel on private carriers.
a
in Substance Issued by the Company.
has at no time used, and does not now use, its pipe lines
(all of which are intra-State) except to transport, its own crude oil to its
various storage stations and refineries at Richmond, Contra Costa County,
and at El Segundo, Los Angeles County, and Seguro, Kern County, all in
California.
It has never transported or carried or offered or undertaken
to transport or carry any petroleum or crude oil or other substance through
any of said pipe lines for or in connection with any other person, firm or
corporation, and has never accepted compensation in any form for the
use of said pipe lines, or any portion of them.
From* the inception of its pipe lines in 1895 they have been laid over
rights of way purchased from private owners.
At different points the lines
cross the highways, but all such crossings have been made by consent of
the authorities and the pipes placed and buried a? by them directed.
When¬
ever necessary
the consent of abutting owners has been obtained.
At
some points these pipe lines cross Government land.
The Northern El Segundo line was laid to feed a new refinery built at
about the same time at El Segundo, near Redondo, in Los Angeles County,
with a capacity of about 10,000 barrels a day.
This line is laid upon a
private right of way acquired sclely for that purpose, and has been, and is
now, used exclusively to pipe petroleum oil tojthat refinery, which oil has
been bought and produced in the Whittier-Fhllerton fields.
The other
pipe lines mentioned are tributary to, and supply, the Richmond refinery
(capacity of 60,000 barrels per day) and the Seguro refinery (capacity of
5,000 bbls. per day), which are operated continuously 24 hours a day the
A quarterly dividend of $1 (4%) per $25 share has been declared payable
Sept. 29 to holders of record Sept. 9, comparing with $1 25 in June last and
$1 50 in March last and Dec. 1912.
Compare V 96, p. 1428.
01.
36
attempted
Statement
Railroads have even greater latitude in use of passenger cars when they
be first class, first turning them over to the main-line local travel
and afterward to branch-line service.—V. 96, p. 1560.
'
•
36
an
The company
cease to
00.
during the past 15 months by
California Legislature declaring pipe lines common
say,
disappear.
cars
continual attack
pletion of this consolidation was made possible by a unanimous decision of
the Court of last resort in Kentucky, rendered May 28 1913, approving
the consolidation and the ordinances granted by the city of Louisville.
An
issue of $7,500,000 bonds of the Louisville Gas & Electric Co. was thereupon
sold (V. 97, p. 54, 179, 526) and has resulted in the working control of the
company being lodged in the Standard Gas & Electric Co. through Stand¬
ard's ownership of an intermediate subsidiary company.
Large additional
earnings are reasonably estimated to accrue to our treasury from the de¬
velopment of this profitable field under an active and experienced manage¬
ment, and the Louisville Company will also effect great economies due to
the consolidation into one operating force of the 5 constituent companies.
All of the controlled properties have heretofore continually invested large
sums of money in extensions and enlargements, thereby fully covering the
territory and anticipating future requirements.
Beginning with Jan. 1
1913, it became unnecessary to continue the development work on so broad
a scale.
The construction requirements will therefore be considerably less
in the immediate future and it is believed that the net earnings applicable
to the securities owned by the Standard will substantially increase.
Judged by a close study of local conditions it appears fair to believe that
the income of Standard from its holdings in its subsidiary companies will in¬
crease and that the suspension for a time of the payment of cash dividends
s in the direction of building up the intrinsic value of all of its holdings.
The Standard is now preparing a full detailed report of all its subsidiary
companies; considerable time is necessarily required to compile this report
and in the meantime this advance notice is sent out.—V. 96, p. 1777.
in
1903 and 1904.—V. 96, p. 1428.
*
a
quired the Western States Gas & Elec. Co. to lower its electric rates in
Stockton and vicinity and to push the extensive additions and betterments
which have been under way for the past two years and which will be sub¬
stantially completed within the next few months.
This controversy, while
being very costly to the Western States Co., has also temporarily prevented
it from disposing of its bonds and pref. stocks which were available to liqui¬
date the cost of the enlargements and betterments; consequently Standard
has been required to make large cash advances to this comp'y. (See below.)
During the past 12 months the officials of the Standard Gas & Electric
Co. have successfully completed the consolidation of all the franchise
electric and gas utilities in Louisville, Ky., and its suburbs, a total popula¬
tion of 240,000.
This consolidation includes the building of a natural-gas
pipe-line, to be owned by the Louisville Gas & Electric Co., from the West
Virginia-Kentucky border into the city of Louisville.
The successful com¬
1912.
11,134,545
12,083,089
11,875,618
12,275,593
of record Sept. 2, in addition to the regular quarterly payment
Oct. 20.
An extra payment of the same amount was made in
they
electric opposition in Stockton.
The State Railway Commission has finally
denied the right of the competitive company to enter this field and has re¬
as com¬
1913.
11,852,535
.11,481,874
11,517,338 10,928,169 July ........11,682,094
..13,320,264
-—11,689,357 11,312,759 August
January
February
as
The Western
mines, owned by Phelps, Dodge & Co., for the eight
zuma
will be suffered by these companies,
showing improved earning conditions.
States Gas & Electric Co., operating in Stockton, Rich¬
mond and Eureka, Cal., and a number of smaller communities, has been
now
are
by the Copper Queen, Detroit and Mocte-
tion of copper
669
CHRONICLE
THE
Sept. 6 1913.]
,
(M.) Rumeiy Co.-—Note Syndicate Extended.—
The syndicate, consisting of William Salomon & Co. and Hallgarten &
Co., which last March underwrote the $10,000,000 note issue (V. 96, p. 494,
557), has been extended for six months.
"After deducting all-current liabilities
July 31 1913
the $10,000,outstanding."
See also V. 97, p. 55, 241, 302.
Pres. Funk is? quoted as saying:
and reserve against notes receivable, our balance shoet as of
shows net current assets in excess of $19,000,000, or 1.9 times
year
000 2-year notes
around in the conduct of the business of the company.
The greater
is sold in the Orient.
The other products of refining
are
now
part of the refined oil
(disposed of chiefly in the Pacific Coast States, some, however, going
to the Hawaiian Islands, British Columbia and the west coast of Central
and South America.
■
The crude petroleum used each year at the 3 refineries during the last
2 years has not exceeded 19,000,000 bbls., while the total annual production
of crude petroleum in California is approximately 90,000,000 bbls.
The
total annual use for refining purposes, storage and other purposes by the
company of crude petroleum produced in this State has been about 30%
6f the total yearly production therein.In the development of its plant,
as aforesaid, the company has expended more than $25,000,000.
Chapter 286 provides that all carriers operating pipe lines more thap 35
miles in length (otherwise than as common carriers), and which pipe lines
cross the public highways, must obtain a license for which they shall pay
$250 per annum, and must further pay to the State a license fee, or exaction,
of 50 cents a barrel for every barrel of oil transported in pipe lines crossing
the highways; alsp that no further crossing of the highways may be made by
pipe lines not operated as common carriers.
<
The fees thus exacted are, of course, prohibitive and confiscatory.
On
a transportation of ,60,000 bbls. a day the said license fee or exaction would
amount to $30,000 a day, or $900,000 per month, or about $10,800,000 per
annum
That this is not a rental charge or fee for the use of highway cross¬
Sears, Roebuck & Co.—Total Sales..—
.
,
Decrease. [
1913—8 Mos.—1912.
0.024% |$57,102,364
$51,365,797
1913—August—1912.
$5,843,282
$5,857,829
—V. 97, p. 55.
-•
-
Increase.
11.16%
'
.
(A. E.) Staley Mfg. Co. (of Del.), Corn Products, Bait.
A certificate was filed in Delaware on or about Aug. 9 increasing the auth¬
orized capital stock from $3,800,000, consisting of $2,000,000 coin, and
$1,800,000 pref. ($1,668,500 and $1,338,000, respectively, outstanding) to
$5,500,000, to consist of $2,500,000 com. and $3,000,000 pref.; par, $100 a
Of the new stock, $200,000 pref. is offered at par to shareholders of
record Aug. 4 1913 at par, subscriptions payable till Aug. 1918.
Dividends
have been paid semi-annually (J. & J.) on the pref. shares since 1906 at
rate of 7% per annum to and including July 1 1913.
Funded debt, $285,000.
See V. 89, p. 476.
I
share.
.
Standard Gas & Electric Co.,
.
Chicago.—Pref. Dividend
to be Paid in
Scrip.—The directors have unanimously decided
the dividend upon the ($11,784,950) pref. stock, due
Sept. 15 1913, for the quarter ended Aug. 311913 at the usual
rate of 2% per quarter, but in the form of negotiable 6%
scrip, dated Sept. 1 1913 and due Sept. 1 1923 (but subject
to prior redemption); interest payable quarterly Dec. 15, &c.
to pay
.
ings, but something very different, is obvious. The company cannot pay
the said fees or exactions and continue in business.
Its lines are therefore
forced into a service which it has neither sought nor which it could ,be
difficulty is anticipated in conducting the
reasonable and safe financial basis..
The increase in the taxes of the subsidiaries in the past two years has, how¬
ever, been something over $200,000, or approximately 2% per annum on
the pref. stock of the Standard Company. With what is deemed to be a
proper maintenance and depreciation charge taken from the net earnings
of the subsidiary
companies and dealing with the results of the elapsed net
earnings of these companies for the 12 months ended July 31 1913,the Stand¬
ard will receive from Its holdings in the subsidiary companies in the ensuing
12 months an income, which, after
providing for its operating expenses and
bond and coupon note interest, will be
equivalent to more than 6% on the
Standard's pref. stock.
The applicable earnings after maintenance, but
before making any arbitrary charge for accruing depreciation, will be in ex¬
/Sidiary companies is good and
affairs of these companies on
cess
?f 10%
no
will own, operate, manage and con¬
pipe lines for, the transportation of crude oil, and will engage in the
business of transporting crude oil or petroleum by its pipe lines as a com¬
mon carrier, and it will further in every reasonable wray the performance
of the business which it thus engages to do, and will, so far as it can , facili¬
tate the supervision and regulation of that business by the Railroad Com¬
mission of the State of California while said Chapter. 286 is in force and
binding thereon.
Compare V. 97, p. '527.
Under these conditions the company
trol its
Digest of Circular Sent Out by the Directors;
As a result of the sale of $2,650,000 of the $3,000,000 serial 6% collateral
trust notes, the company is free of all floating indebtedness other than sums
which are due some of its subsidiaries.
The financial condition of the sub-
'
lawfully compelled to render;
g
a
on the preferred.
Superior Colliery Co.—Bonds Called.—1
($3,000) 20-year 5% gold bonds, Nos, 7, 15, 21, for payment at
and int. on Oct. 1 at Columbia-Knickerbocker Trust Co.,tN. Y.—
1688.
Three
par
V. 95, p.
:
.
Tobacco Products Corporation.—Subsidiary .Dividend.
The Melachrino Co. has declared a
dividend of 3% on its
$3,500,000 out¬
standing stock, all owned by the Tobacco Products Corp., making a total
of 9%, or $315,000, declared on that company's stock since March, or in a
6 months' period.
The earnings of the Melachrino company are, it is
stated, running at the rate of 20% per annum, which would be sufficient
to meet the entire dividend on the outstanding $10,000,000 pref. stock of
Products Corporation.
The company also owns all of the
the Surbrug Co., Nestor Co. and Booker Tobacco Co. and half of
Bros.—V. 96, p. 1234.
With the cessation of a cash distribution on its pref. stock, Standard will
be able to retire from its
income, after paying its operating expenses and in¬
stock of
terest on its bonds and
coupon notes, tne
the outstanding stock of Stephano
$500,000 of its coupon notes ma¬
turing June 1 1.914, and the balance of the surplus income, together with the
proceeds of the reserved $350,000 notes, will, it is believed, enable the Stand¬
ard to supply that part of the construction requirements of its controlled
companies which cannot be economically provided from the sale of treasury
securities of these companies.
See V. 96, p. 1777.
Status
of
Various Controlled Properties.
Among the controlled companies are the Everett (Wash.) Gas Co. and
Gas Qo. of Tacoma and Olympia, Wash.
These companies
the Tacoma
have
now
served
completed
have
also
extensive
programs; the communities
period of extraordinary depression.
development
passed through
a
The net earnings of these properties are now increasing and with a full re¬
vival of the communities in question
the Standard will unquestionably
be in receipt, from its stock interest in those companies, of a substantial reve¬
nue which at present
it is deprived of.
"
I
'
The controlled properties in Oklahoma City, Muskogee, El Reno, Enid
Sapulpa, Okla.. have suffered in gross and net earnings from the
and
partial crop failures in that section cf the country for the past few years.
These crop failures, it is believed, have only temporarily arrested the de¬
velopment of that region; but they have been reflected in a loss of $72.623
in the net earnings of the properties named in the past 12 months.
It is
the
Tobacco
Tri-County Light & Power Co., Aledo,
111.—Bonds.—
time ago at par and int. $175,000
Dated Nov. 15 1912, due Nov. 15 1952, but
interest date at 102 and int.
Par $1,000 c*.
Illinois Trust & Savings Bank, Chicago, trustee. |
7
McCoy & Co., Chicago, offered some
"first & ref." 6% gold bonds.
red. in whole or in part on any
Int. M. & N. at
Capitalization—
Common
stock
Preferred
stock
-
Authorized. Oulst'ding
$750,000
$240,000
250,000
100,000
1,000.000
175,000
gold 6s
$825,000 bonds can only be issued for betterments, ex¬
additions at not to exceed 75% of the cost thereof, or in exchange
at par for bonds outstanding on other properties when
acquired—provided
that the annual net earnings of all of the property of the company applicable
to interest are 1
times the interest charge, including the bonds then to be
issued and all underlying bonds.
Special depreciation fund begins in 1912.
a sum equal to 2% of outstanding bonds.
First and refunding
The remaining
tensions or
Data from Statement by Pres. Frank J. Baker, Aledo, 111., Jan. 22 '13.
Org. in Illinois in 1907,,and prior to Dec. 1912 did an electric-Iightand
power„business£in2Alpha, Rio and- New Windsor; has since acquired other
670
THE
CHRONICLE
properties and franchises, so that in addition to the above towns it also serves
Aledo, Alexis, Keithsburg, New Boston, Joy, Viola, North Henderson,
woodhull and Seaton, all located in
Mercer, Henry, Warren and Knox
counties, III.
The proceeds of these $175,000 bonds and of the pref. and
common
in
COMMERCIAL
now
consolidation of Dec. 1 1912: Gross, $48,862;
PR,or
$16,137.
net, after taxes,
Estimate for year 1913: Gross,
$58,700; net after taxes, $21,500,
double the interest charge.
"
Officers and directors: Frank J.
Baker, Pres.] George O.
or over
•
,
•Pres.;
Robert W.
Waite,
Sec.
Spencer, ViceBernard Flexner and Martin
and Treas.;
J. Insull.
Turners Falls
(Mass.) Co .—Status—Construction.—
See Amherst Power Co. in V.
97, p. 598.
United
The
'
Copper Co.—Claims.—
total
filed with Henry D. Estabrook as special
the claim set up by the receiver of the Aetna
master to take
testimony on
IndemnityCo. was, it is stated, as follows:
Cm,
Against the United Copper
$4L745,375^and against the Montana Ore Purchasing Co., $5,728,048.
United
States
Metal
EPITOME.
Friday Night,
Sept. 5
Business in commercial lines continues to
servatism.
1913.
manifest
con¬
Some hesitation is natural in view of the situa¬
tion
in the Southwest.
The drought in that section has
damaged corn and cotton severely, but wheat and oats
promise better.
Higher prices, moreover, may offset re¬
duced yields,
Money is a shade firmer, owing to the cropmoving demand. Expansion of trade might be inferred from
the increase in gross railroad earnings.
Railroad net rosults are very unsatisfactory
;
.
of claims
amount
xcvii.
The Cvmmjeixux! Times.
stocks, have been used in payment for the above
properties and
The bonds are a first lien on all the property
providing working capital.
owned.
Company operates in a rich agricultural section, without com¬
petition, under franchises without burdensome restrictions and which, in
general extend beyond 1960.
The proposed central station will insure
great economy and reach also the rural population.
Earnings as reported by auditors for the year preceding dates of audit,
[Vol.
Stocks of Merchandise at New York— Sept. 1 '13. Aug. 1 '13. Sept. 1 *12.
Coffee, Brazil
bags
135,740
228,845
1,738,385
Coffee, Java
28,195
..bags.
31,520
60,052
Coffee, other
____bags_
199,760
1,268,531
305,688
Sugar
43,938
hogsheads.
71,990
24,000
Hides
'
..No.
3,452
4,130.
500
Cotton
..bales.
12,786
36,267
88,754
Manila hemp
11,570
bales.
13,979
1,966
Sisal hemp
6,293
241
379
;
bales,
Flour
barrels
40,900
38,500
46,300
-
Products
Co., College Point,
Y.—Turner, Tucker & Co., N. Y., Boston, and Chicago,
Sept. 4 wrote in substance:
N.
_
_
...
The Art Metal Construction Co. of Jamestown, N. Y., a Mass. corpora¬
tion, has recently acquired, through stock ownership, the controlling in¬
terest in your company.
[The purchase is said to include $4,000,000 of
the $5,000,000 common stock, there being also outstanding $2,000,000
pref. stock.
John William Rapp also retires from the presidency.—Ed.]
The
ultimate
effect of
this
should
be
of great
advantage to the
shareholders of both corporations.
The business of the companies is of a
kindred nature, and, while not competing, these companies are engaged in
the same broad line of
manufacture, both companies using practically the
same class of raw material.
By purchasing the supplies for both companies
through one source, a large saving should be made, and by making use of
the various processes and
manufacturing methods at the present time used
in the different plants, there should be a large reduction in the manufac¬
turing costs.
' «
'
.
The
business
means a
the Art
of
your
company
has increased very
materially,
(compare V. 92,p.467; V. 94,p. 921).
•
'
We are advised that the United States Metal Products Co. for the first
six months of this year earned more than $200,000 net, and that the net
earnings for the last three months have averaged approximately $50,000
your company
_
month.
The Art Metal Construction Co. for the first seven
months
of this year earned
approximately $223,000 net [against $375,000 for cal.
a
year
1912].
,
At recent meetings
of the stockholders of the Art Metal
Construction
Co., it was voted to increase the number of the board of directors and the
following members were elected: Clayton E. Bailoy, Campbell Carrington,
Edward A. Clark, William R. Craig, F. Fenton Gilbert, Charles Hayden,
John W. McKinnon, George E. Shaw and A. B. Turner.
Clayton E.
Bailey was elected President and it was further voted to reduce the par value
of the shares of the company from $100 to $25.
[The capital stock of the Art Metal Construction Co. Mar. 31 1913 was
$2,068,400; dividend rate,, 12% (Q.-J.); bonds out, $70,000.
Turner,
Tucker & Co. recently offered a block of the stock at $140 per share, par
$100,
We understand that the issue will be increased to $4,000,000.]—
V. 94, p. 921.
:
•
-
United
States
Realty &
Improvement
Co.,
N.
Y.—
Earnings.—The following is pronounced
approx. correct:
ending July 31 the earnings of the company were about
equal to those of the same quarter in the previous fiscal period.
New
construction contracts taken through George A., Fuller Co. represented an
aggregate over $6,500,000, and the value of finished construction on July 31
was between $500,000 and
$1,000,000 higher than on May 1. - The outlook
for the immediate future is considered
satisfactory.
Compare V. 96, p.
11553, 1560...,'
* ■
r'
.)■
For the quarter
r
■
^
United
States
Steel
Corp.—10-60-Yr. 5% S. F.
Bonds
Called.-—The Co. will redeem through the sinking fund $293000
of
its
10-60-year .5% sinking fund
coupon
gold bonds
issued under indenture dated April 1 1903, on Nov. 1 at 110
and interest at the office of J. P. Morgan & Co., N. Y.
The sinking fund was used until April 1 1913 in purchasing bends at not
over 110 and interest or invested in securities; since
April 1 1913 bonds may
be drawn by lot,, coupon, bonds to be first redeemed.
AH bonds purchased
to remain alive and draw interest.—V.
are
Western States
97, p. 449, 370.
Gas & Electric Co.—Bonds.—
Figures submitted to the Commission for the year ended April 30 1913 are
reported as, showing:
Gross revenue, $1,025,357;
operating expenses,
$510,698; net, $514,659; interest on funded debt (Ainerican, $458,000;
Western States Gas & El. 1st Ref. 5s, $3,803,000), $218,050; int. on bonds
now proposed, $17,700; bal., sui\, $278,909.
See Standard Gas & El. .Co'
above.—V. 96, p. 1845.
"
'
<.
Winona Copper
Co.-—Assessment.—
-
share has been called on the $4,166,675 stock
This will make the stock, it is understood, $24 per share paid in.
(par $25).
per
The assessment is called
ruption
of operations
and the
rumors
on
account of the expense incident to the inter¬
by the strike of the miners of the district
was shut down
permanently, which
would handicap the company in engaging miners when the strike is
ended.;
The results achieved during the last few weeks before the strike, Pres Paine
caused
current that
the mine
.
showed
1487.
says,
p.
.
,
more
encouragement than any previously attained.—V. 89,
_
Yellow Taxicab Co., New York.—Sto.y Granted.—
Presiding Justice Ingraham of the'Appellate Division of the Supreme
on Sept. 2 granted a stay until October,
preventing the city authori¬
ties from putting into effect the new taxicab ordinance so far as the
company
Court
is concerned.
the
This is done to enable the company to have a hearing oh
It is expected that similar applications will
appeal to the higher Court.
bp made by the other companies and parties who sought to obtain injunc¬
tions to restrain the city in the lower
Court.—V. 97,
p.
533.
»
y-The bond department of the Guaranty Trust Go. of
this
city has issued
The list includes
a
descriptive circular of investments.
several issues of bonds and notes widely
diverse in character, each of which has been carefully se¬
lected for its special features, yielding an attractive income
return
at
current prices,
recommends for
strongly
will
cular
be
mailed
department.
to
and which the trust company
purchase as investments.
Cir¬
any inquirer.
Address the bond
i.
—Reed A. Morgan & Co., West End Trust Bldg., Phila¬
delphia, have issued an interesting circular regarding the
Philadelphia Electric Co., covering its'growth of business,
capitalization and dividends, freedom from competition,
earnings and balanco sheet.
—The
Dominion Securities Corporation, Ltd., Toronto,
Montreal and London, has issued its quarterly bond-list for
September 1913, covering .select
municipal and corporation bonds.
'
■
'
-
Canadian
Government,
:
v,V
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
•
•
September delivery cts-11.20
October delivery
«_11.30
January delivery._
10.95
May delivery
PORK
Holiday.
11.02}*
11.15
10.97}*
11.02}*
11.22}*
11.30
11.35
11.32}*
11.40
11.25
11.42}*
11.05
11.12}*
11.37}*
11.35
11.20
steady;
mess
$23 25 ©$23 75;
olear $20 50©
$22 50; family $24 50©$26 50.
Beef firm; mess $18@$19;
packet $19@$20;
family $20@$22;
extra
India mess
$28©$30.
Cut meats firm; pickled hams, 10 to 20 lbs.,
-
o. b. New York, 6 to 12 lbs.,
Butter, creamery extras, 30b£@31c.
Cheese,
State wdiole milk, fresh colored specials, 15«kt©16c.
Eggs,
fresh gathered extras, 28@30c.
.
OILS."—Linseed steady;
City raw American soed, 53©
54c.; boiled 54@55c.; Calcutta 70c.
Cottonseed oil strong;
winter
9.35c.;
summer
white 8.50c. r—rsteady;
Cocoanut
Cochin 14 © 15c.; Covlon 11}4 @11 lA?
Chinawood steadv
15%@16c.;
bellies, clear, f.
15©17%c.
.
•
at
7A@7HqCorn in good demand at 6.65@6.70c. Cod
'
steady at 40 ©42c.
COFFEE.—Actual coffee was firmer, then reacted, re¬
flecting the fluctuations in options.
The demand, however,
was still routine.
Roasters buy sparingly of Santos grades,
as they command a premium.
More active' arrivals of new
crop are expected to cause a decline in price.
Spot Rio No. 7
is quoted at 9^c.; fair to good Cucuta lt^$@12c.
Futures
were advanced on adverse crop reports but subsequently de¬
clined on heavy primary receipts.
The visible supply was
also a factor, increasing almost 1,000,000 bags. '. Consuming
countries still refuse to anticipate requirements, though
invisible supplies must be light-.
To-day prices were higher
on short covering.
Closing prices were as follows:
•
.
The company recently applied to the Cal. RR. Commission for
authority
to issue $354,000 5% bonds to reimburse the treasury for betterments,
additions and'equipment.
An assessment of $1
is
firmer, reflecting the strength in the West.
Buying is still hand-to-mouth.
The rush to market hogs
is expected to cause recession.
Prime Western is quoted
at $11 65, refined to the Continent $12 15, South American
$12 75, Brazil in kegs $13 75. Lard futures are higher, espec¬
ially in the distant months.
The active deliveries now are
explained by the high price of corn.
But later on there may
be a scarcity.
Packers are, at least, buying in this expecta¬
tion.
To-day prices were higher.
v
which
demand for additional credits, and the purchase of these shares by
Metal Construction Co. should greatly strengthen the
financial
position of
LARD
..
September ..8.78@8.80 January ____9.07(3)9.09 May
_8.8 3 @ 8. S 5 February ___9.16@9.18 Juno
9.25 (3) 9.26 July
November __8.90(3)8.92 March.
December
8.99 @9.00 April
9.30©9.321 August
O ct obcr
_
_
„
...—
_
_
...
SUGAR—Raws
_
_
^
_
_
_
...
.
.
—,
.9.36(3)9.37
J9.42@9.44
9.4 9 ('« 9.50
9.49 ©9.50
_
....
steady.
Tho receipts at Atlantic ports
lighter for the week, being only 36,829 tons,- against
51,847 in tho. previous week and 30,632 last year.
The
meltings woro 64,000 tons, against 45,000 last year.
The
total stock was 262,412 tons, against 289,583 last week and
186,660 last year.
Centrifugal, 96-degr jos test, 3.76c.;
muscovado, 89-dogrbos test, 3.20c.; molasses, 89-degroes
tost, 3.01c.
Rofinad quiet arid lower at 4,60c. for granulated.
PETROLEUM steadyp barrels 8.70©9,70c,; bulk 5©6c.;
cases ll@12c.
Pennsylvania crude $2@$2 50; Kansas and
Oklahoma $1 03; Corsicana, Tex., 80c.©$1 05; North Lima
$1 89;
South Lima $1 34; Indiana $1 34; Illinois $1 30.
Naphtha steady; 73 to 76 degrees test, in 100-gallon drums,
25c.; drums $8 50 extra.
Gasoline, 89 degrees test*. 29^c.;
74 to 76 degrees test, 25M<M 68-to-70 degrees, 22}4c., and
stove,.21c;
Spirits of turpentine 42©423^c,
Common to
good strained rosin $4 20.
.•
TOBACCO.—1The market for tobacco continues quiet,
with merely a small jobbing demand.
Western buyers have
departed and the weight of their purchases is no longer felt.
In fact
the aggregate was smaller than usual.
Buying of
new-crop broadleaf and Havana seed leaf in the Connecti¬
cut Valley continues at high prices/
Packers are picking
up the better quality crops.
Sampling js under way in
Wisconsin, but the tobacco shows considerable damage.
Cigar manufacturers' supplies are small.
COPPER.—Tho market for copper is firmer.
There is an
active speculation abroad which facilitates the rise.
Stocks
aro decreasing and the consumption continues good.
Later
on, however, a larger output of^tho mines should bo an in¬
fluence.
Lake is higher at 16^@162^e.; electrolytic at
16^e.
Tin is slightly firmer and fairly active. - .It
is
quoted higher at 43.70c.
Foreign markets gro well main
tained. Spelter is steady and quiet at 5.90c., Lead is slightly
easier at 4.75c.
Pig iron is firm at $15@$15 25 for No. 2
Eastern, with No. 2 Southern at $10 75 ©$11.
(
were
CHRONICLE
THE
Sept. 6 1913.]
COTTON.
671
:
Speculation in cotton for future delivery has been active
prices have risen sharply. The principal stimulating
and strengthening factor was the monthly report by the
Government.
This stated the condition of the crop as of
Aug. 25 at only 68.2%.
This compares with a condition
of 79.6% in the preceding month, 74.8% in August last year,
73.2 two years ago and a ten-year average of 74.7.
The
condition of Texas was stated at only 64, which compares
with 81 in the preceding month, showing a decline in the
condition within a month of 17.
The August report last
year stated the condition at 76.
The condition in Oklahoma
and
"
Friday Night, Sept. 5 1913,
CROP, as indicated by our
.
THE MOVEMENT OF THE
telegrams from the South to-night, is given below.
the
Sept.
1
141,281 bales last week and 66,011
against
153,476 bales,
bales
previous week,
making the total receipts since
101,240 bales, against 106,012 bales for the
1913
period of 1912, showing
same
For the
this evening the total receipts have reached
week ending
of 4,772 bales.
decrease since'Sept. 1 1913
a
!
Sat.
Mon.
stated
was
;
^
■
within
Tues.
Wed.
17,548
11,163
Thurs.
only 45, which showed
no
less
a loss in condition
than 36 and compared with a
condition
Total.
Fri,
at
month of
a
a year ago of 84.
The effect of the report was to
excited buying, which carried prices upward by leaps
and bounds;
There has been little rain in th§ Southwest
cause
Galveston
5,612
38,933
13,610
'
151
Texas City.—.
Aransas Pass.&c.
5,801
New Orleans....
684
26
659
923
"726
Mobile
873
463
152
1,273
219
922
Savannah..
—
«•
85
Jacksonville, &c.
-
-
~
—
115
M
—
—
1
«.
—
—
-
rnmmm
«
—
-
mm
2,382
2,636
3,413
A
'
—
19,475 106,371
336
1,524
5,801
1,175
4,193
.-618
3,598
241
326
4",813
6,203
1,650
25,464
2,400
1,865
1
mm
6,017
'
750
Brunswick:
Charleston
.
—
mm
mm'mm
227
645
162
531
254
105
90
10
200
285
6
46
Wilmington
mm
72
81
37
287
52
394
1
:
"""91'
Norfolk
mm-m,mm
1
mm
^
';</•
^
_
-
.v;-
mm
4
...I
-----
j
'
New York
Boston
—
mm
m.
—
■
..
mm
-
—
rnm
'
.
mi
—
"*»
■
-
mm
•
Totals this week.
52,236
19,735
21,482
9,220
1913.
This
Texas City..
Port/ Arthur
1
20,216
30,587 153,476
to-night, compared with
Stock.
This
Since' Sep
Week.
1 1912.
Sep
1913.
67,438 107,2441
106,371
1,524
_
602
866
5",801
78,685
110,254
987
866
6S9
3,509
2,725
326
....
241
&c.
Savannah..
1,986
20,382
6,028
1,201
918
636.
23,376
1.927
,
380
22", 480
22,051
1,650
1,819
7,316
690
690
506
506
5,434!
584
287
196
1,238
1.173
5,912r
11,565
394
52
23*.484'
126,233
25,464
2,400
1,865
Hrunswick
Charleston
~4~ 500
100
4,193
3,598
__
Mobile
Jacksonville,
...
Wilmington
^Norfolk
Lewp't News, &c.
<w York
v
37,906
6,537;
261
250
1.023,
254
590
586j
4,641 i
3,686
_ ——
~~~6
_
_
_
ielphia
_
_
6
60
60
4,060
2,234
557
i._.
261
35
351
3,355
1,112
_
875
1,125
197,652
305,696
....
Totals.—.,".. 153,476
In order that
121,123'
101,240
comparison
may
106,012
bo made with other
give below .the totals at leading ports for six
1913.
Receipts at—
Galveston
1912.
108,371
Texas City.'lc
New Orleans.
76,012
966
984
349
4,193
1,986
3,712
1 -162
7,446
Norfolk.....
N'port N.,&c.
918
2,345
7,316
46,625
2,583
'""355
264
1,865
690
287
7
'
590
506
784
29
1,238
807
154
394
889
"""95
Total this wk.
153,476
121,123
133,910
Since Sept. 1.
101,240
106,012
153,948
The exports
45,700
,
"4,283
1,914
1,851
154,356
128,934
197,960
95,0641
123,040
155
1,770
181,165
were
a
tota*
to Great Britain,
43,921 to France and 50,395 to the rest of the Continent.
Below
are
the exports for the week and since Sept. 1 1913.
Week ending Sept.5
1913."
From Sept: 1 1913 to Sept. 5 1913.
Exported to-
Exported to—
Great
Britain. France,
Galveston.
26,990
Ar.
Pasv&c
New Organs
New
York.
Boston
7,962
30,357
11,8.64
101
19.12.
us
nent.
21,894
26,990
45,057 102,404
19,826
"601
702
3,790 15,831
306
122
.
45,700
43,381
43,921
12.034
50,395 140,016
32,266
22,394
37,331
10,743
34,840
87,731
On
Sept. 5 at-
42,927
102,652
.
We add similar figures for
680
|
Getmany.
Other
Foreign
wise.
68
1
2,925; 27.724
7,000
Savannah
8,977
3.673
3,219
50,299
Charleston
Mobile
200
200
Norfolk
New York...
Other ports..
4,500
1,000
2.000
700
3,000
1913.
1,500
4,500!
3,200;
5,000!
13.00
Total 1913.
Total 1912.
Total-1911.
10,680
25,808
31,278
•
5,121 31,898
7,647 23,023
18,0471* 22,623
10,545!
'
10,137
7,738'
8,174
12,877
4,163
66,418
79,492
83.849
131,234
226,204
167,897
H,
Wed.
13.30
off
off
Thurs.-
13.25
Fri.
13.00
1912.---...11.60
1904
1903
1902.
11.60
...
9.90
on
1896—.
1895—
8.25
1894—
6.94
1886...
1893—
8.00
1885-_
10.06
9.88
1892—
7.06
1834—
10.88
6.25
5.75
1891—
8.81
1883—
10.12
1890—
10.62
1882—
12.81
11.10
12.50
9.00
1901
8.56
1900
1899
1898
1889.c.
7.50
8.50
1905-C—. 10.75
1911
1888—
11.38
10.56
1887—
10.00
9.19
mark: ET AND SAL SS AT NEW YORK.
Futures
Spot Market
Closed.
Saturday.
Holiday.
Holiday.
Monday
Tuesday.
Quiet, 50 pts. adv.
Wednesday. Quiet, 30 pts. adv.
Thursday
Quiet, 5 pts. dec..
Quiet, 25 pts. dec.
Friday.
__
Total
SALES.
Market
Closed.
—
'
Tiaes.
13.00
Mori.
Sat.
H.
...
YORK QUOTATION FOR 32 YEARS.
quotation for middling upland at .New York
c
Stock.
17,163
28,386
37,906
4,641
5,828
1,412
20,284
15,614
off
off
NEW
Leaving
Total.
mid., tinged.0.15 off
quotation for middling upland cotton in the
for the past week has beep:
Aug. 30 to Sept. 5—
Middling uplands......
1906
474
1,996;
Tho official
1910.-.-.-.15.00
1909
12.85
1908.
9.30
1907
13.55
Coast-
Strict
New York market each day
70,094
Shipboard, Not Cleared for-
Britain. France.
New Orleans.
Galveston
11,340
"""825
shipboard, not
on
_c.
middling.0.35 off
on Low
"""601
,
|
0.80 ofi Middling tinged. 1.0.30
1.40 off Strict low mid.tingfc0,85
2.15 off Low mid. tinged...2.00
0.24 on I Strict g'd mid. ting.0.35 on Middling stained..0.90
The
New York.
Great
Strict low
telegrams to-night also
the following amounts of cotton
cleared, at the ports named.
Middling..
on
1.10
Strict middling
♦Reaffirmed Feb. 5 1913.
499
24,506
Even
on
1.30
89,886
"""825
825
Basis Good mid. tinged. c.
c.1.50
M iddling fair.
middling
Strict good middlingO.68 on'Strict good ord
Good middling....0.46 on Good ordinary
Total.
428
825
41,002
""coi
"""566
10,341
In addition to above
exports, our
give
France.
Britain.
.
1.766
10,341
....
TotaL...
Total.
nent.
Pt.Town3'd
Total
anything but favorable
price of eottgn, arid is already injuring the cotton
industry of the* South.
Spot cotton here has been quiet.
Middling uplands at 13c., shows an advance for the week
of 50 points.
* :
The rates on and off middling, as established Nov. 201912*
by, the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Strict mid. fair
Conti-
Great
Contt-
cotton is
the
to
Fair
Exports
from—
new
Tha short interest has been largely reduced.
Some very favorable crop reports continue to be received from
east of the Mississippi.
In this country spinners have con¬
tinued to purchase
sparingly.
To-day prices declined sharp¬
ly owing mainly to a report from Washington that the Senate
caucus had agreed on the Clarke rider to the tariff bpl pro¬
viding for a tax of 1-10 of 1% on cotton futures.
The effect
of such a measure, it is generally agreed, would be to the last
degree pernicious, not only to the cotton exchanges of this
country, but to the. cotton growers themselves.
It is said
that the House of Representatives as a whole is opposed to
this bill, and a Washington dispatch took the ground that
it is likely to be killed when it goes to a conference between the
House and the Senate.
In the meantime, however, the re¬
vival of anti-future talk is considered
for the week ending this evening reach
140,016 bales, of which
3,294
41,060
560
"""280
"58
.
"7",068
,
38
—
The movement of
increasing.
,
2,368
,
732
14,165
•
67,539
4,554
55.972
3,905
11.153
9,690
3.619
3.598
25,461
2,400
...
Brunswick...
Oharleston,&c
Wilmington..
All others...
55,051
77,838
k
1908.
1909.
1910.
1911.
107,244
.
vices from that rnarkot.
years,
seasons:
7,325
Mobile
Savannah
1912.
1913.
94.3361
_
Aransas Pass, k,c.
New Orleans..
of
6
1912.
Since
Week.
Galveston
we
fm mm
.
Receipts to
Sept. 5.
Boston
mm
557
the week's total receipts, the total
since Sept. 1.1913, and the stocks
Baltfrnore.
mm
mm
"261
The following shows
last year:
mm
6
il'
'
'
mm'
296
Baltimore
690
*
342
N'port News, &c
during the week. - Showers have fallen at times, but the
precipitation has been too widely scattered and too light, in
the opinion of many, to be of benefit to a plant which has
been without moisture and exposed to high temperature for a
considerable period.
The drought area has latterly increased,
according, not only to private reports, but also to the weekly
Government weather report which was received on Wednes¬
day of this week.
It stated that drought continued especially
severe over a large portion of Texas, in Oklahoma and in
Southern Missouri, and that lack of rainfall was being severely
felt
in
Arkansas
and
Northern
Louisiana,
while
oast of the Mississippi tho rainfall was deficient and moisture
was nooded in many parts of that section.
This report also
had not a little effect upon sentiment.
Liverpool has shown
noteworthy strength at times, especially following tho an¬
nouncement of the Bureau.
There has boen active buying
at times by prominent spot interests, while commissionhouse business has expanded materially.
Liverpool, the
Continent and the South have also made purchases, while
there has been heavy covoring of shorts.
Tho stock here
has fallen to very small proportions and is now much smaller
than at this time last yoar:
It is contended by some that
tho Bureau report indicates a crop of only 12,800,000 bales,
whilo others take tho ground that the indications are for a
yield of 13,500,000 bales at the "most, whilo thoy think the
noods of the world's spinners will be considerably larger than
tho latter figures.
At times, however, reactions have oc¬
curred-on long liquidation, while there has boon more or less
selling for tho deelino on the reasonable idea that after
so violent an advance within a comparatively short space of
time, the market was entitled to a good setback.
Moroovar,
offerings of tbo actual cotton from the South to Liverpool
havo meroasod materially of lato, according to private ad¬
Spot.
Contract
Total.
HOLIDAY
HOLIDAY
Firm
2,600
2,600
Steady..
Steady
Feverish
...
7,00
3,300!
7",00
3,300
CHRONICLE
THE
67£
FUTURES.—The highest, lowest and closing prices at
as follows:
New York for the past week have been
Saturday, Monday,
30.' Sept. 1.
Tuesday, i Wed'do.y, Thursd'y,
Sept. 2. 1 Sept. 3.
Sept. 4.
Aug.
' •
,
August—
Range
'
,•
_
—-
-
....
Closing
.t
Friday,
Week.
Sept. 5.
[Vol.
THE INTERIOR TOWNS the movement—that is,
AT
the
receipts for the week since Sept.. 1, the shipments for
the week and the stocks to-night, and the same items for the
corresponding period of the previous year—is set out in
detail below.
"
-
;
_
—
_
Movement to September 5 1913.,
Sept.—
Range
Closing...^
12.25~.74 13.02-.30i12.90-.00 12.80 — 12.25-.30
12.85-.87 13.10-.15 12.90-.91I12.48-.53
....
Towns.
Receipts.
Closing....
fi.'» '
Nov.—
Range
Week.
12.41-.99 12.90-.38 12.95-.16 12.55-.9S 12.41-.38
12.94-.95il3.16-.18 12.95-.96 12.55-.60
12.34-.88il2.87-.20
450
407
3,512
3,564
Selma
_
1,405
2,564
2,610
1,984
Ark., Helena..
Dec.—
Range
Little
12.36-.94 12.82-.35 12.95-.17 12.60-.98 12.36-.35
....
Closing
12.90-.93 13.15-.16 12.95-.96 12.60-.65
HOLI¬
Closing....
—
—
—
_
_
—
—
'
Range
Closing.
12.86-.87 13.16-. 17 12.95-.96 12.60-.63
—_
....
_
Range
Closing..
.—
—;
971
1,060
1,698
25
297
140
152
4,496
4,000
260
250
12.93-.94 13.21-.23 12.99-.00 12.60-.67
..
; i
129
439
64
\v>..
_
—
13.07
—
....
—
12.93-.94
—
—■
185
12.61-.64
_
12.93-.G7
105
1912.
1911.
1910.
2991,000
6,000
525,000
5,000
568,000
6,000
337,000
< 9,000
25,000
70,000
28,000
21,000
Total Great Britain stocks___.
555,000
96,000
6 V.000
3,000
13,000
5,000
17,000
644,000
.10,000
190,000
87,000
2,000
15,000
14,000
6,000
374,000
14,000
18,000
43,000
2,000
17,000
7,000
7,000
326,000
11,000
46,000
62,000
2,000
12,000
4,000
4,000
217,000'
324,000
108,000
17,000
_
Stock at Marseilles.
;
Stock at Barcelona.:.--Stock at Genoa.
_____
Stock at Trieste.
.
._
"52
48
Total European stocks.
968,000
72,000
182.397
772,000
99,000
216,156
India.cotton afloat for Europe.—
Amer. cotton afloat for Europe._
Egypt,Brazil,&c.,aflt.for Europe.
1,758
—
274
58
17
211
174
•
*
«A
•
100
'
525
8
8
70
7
1,281
1,914
764
7
748
1,991
5,859
"296
7
83
704
^
8
776
924
"941
740
302
....
330
■
3,777
1,745
86
80
75
30
27
24
27
15
650
600
1,467
20,941
534
520
415
19,996
V.
35
909
6
6
2,600
2,200
678
678
m
Brenham
Dallas
1,500
•
Paris..
♦Last
42,000
26,000
67,000
527,000
197,652
124,1'7
'8,012
34,000
447,000
305,696
118,234
2,068
90
„
1,014
3,210
'
"163
"""122
2,053
75
75
75
2
1,725
1,875
1,719
1,719
1,615
718
73
605
970
970
873
97
1,300
'J
;
-m
1,238
277
277
86,175
1,756
3,000
38
89,000
234
Total, 33 towns 121,271
„
59
^
1,756
Houston
-
10,738
1,315
96,058
Honey Grove.
-
44i
■
....
2,100
239
228
78
150
102,004 101,019
2,151
1,937
2,151
1,522,
1,000
l,228i
2,100
228
.
42,915 123,627
56,221
109,636 106,402 124,197il43,157l
214
119,614 118,804 118.234
year's figures are for Louisville, Ky.
OVERLAND
MOVEMENT
SINCE SEPT. 1.—We
FOR
give below
THE
WEEK
AND
statement showing the
overland movement for the week and since Sept. 1, as made
up
a
from telegraphic reports Friday night.
Sept. 1 in the last two
The results for the
years are as
1913-:
'
follows:
1912
-7—
Since
September 5.
Shipped—.
Since
Week.
Sept. 1.
Week.
Via St. Louis____
941
666
1,745
Via Cairo_..__
188
146
242
197
218
"""218
Island...
Via Louisville
Via Rock
•
Sept, 1.
1,084
•
7 563
"563
Via Cincinnati:.
Via Virginia points..
482
413
Via other routes, &c_._.
Total Continental stocks.
528
•
,
7
>
211
1,627
■
35
141,000
Stock at Havre—
11
849|
10"4
92
.
week and since
Stock at Bremen..
719
298,
246,
~
-
949
as
...
Hamburg*.-.-
961
50
58
58
734
■
30
'*»
Nashville
Stock at Manchester___________
Stock at
1,501'
2,879
149
Tenn.,Memphis
—
1913.
bales.
111
618
■
242
149
Okla., Hugo*..
S.C., Greenw'd
_
follows.
Foreign stocks,
as well as the. afloat, are this week's returns,
and conse¬
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
,
102
O., Cincinnati.
THE VISIBLE SUPPLY OF COTTON to-night, as made
Stock at London.
15,567
1,095
113
154
185
251
...
Clarksville.
Stock at Liverpool
2,483
1,045
1,927
1,045
445
31
Tex.,
September 5—
758
3,040
7,301i
3,951!
322
1,386
"48
Mo., St. Louis.
12.90-.29
1
by cable and telegraph, is
3,056
CO
•
1,386
Natchez
—;
785
'856
2
223
N.C., Raleigh..
12.90
—
13.28-.29 13.05-.07 12.66-.70
13.35.
2
2,071
238
281
Vlcksburg
Yazoo
City..
,
13.28-.29 13.03
.
;
255!
"
350
144
...
Meridian
;
r
335
"
A.
10
1,710
'
12.42-.96 12.91-.37 12.99-.20 12.60-05 12.42-.37
'
Closing....
July—
Range
Closing....
1
10
1,100
'
.....
Greenville
—..
12.8-5-.90 12.85-.90
_
June—
Range
1
2,897
800
Miss.,Columb's
•
ft\.
643
2,394
Greenwood...
•,
1,976
362
■
April—
Closing....
May—
1,232
623
25
La., Shreveport
*
.
12.34-.89 12.80-.35 12.95-.16 12.62-.99 12.34-.35
Range
1,650
708
28
Rome
•.
.
^
-
225
1,650
850
Macon
—
—
12.81-.82 13.07-.09 12.88-.90 12.52-.55
•V
~ -
-
426
144
Columbus.
March—
-
370
102
■
r
—
Augusta
12.79-.80 13.05-.07 12.86-.87 12.50-.55
Feb.—
—
6.
406
1,100
4,722
3,127
'
Range
Sept.
Season.
29
Atlanta..
12.26-.80 12.70-.25 12.86-.08 12.50-.90 12.26-.25
Closing....
Stocks
Week.
Receipts.
Week.
1,000
..
Athens
DAY.
Range
Rock
Ga., Albany...
—-1—
—
HOLI¬
DAY.
Jan.—
up
500
Montgomery
12.79-.83 12.34-.20
12.87-.89 13.09-.11 12.90-.91 12.55-.60
,
5.
Ship¬
ments.
Sept.
*—
—
Ala., Eufaula..
....
Closing
—
Season.
Stocks
Week.
Oct.—
*
Movement to September 6 1912.
Ship¬
ments.
—
Range
xcyii.
265
'
450
463
287
246
198
158
2,852
2,280
3,072
563
267
i
^
463
206
■,
'
158
"467,000
482,000
36,000
237,834
70.000
176.638
Total gross overland—
Deduct ShipmentsOverland to N. Y., Boston, &c
23,000
25,000
...
Between interior towns.
2,326
'_■•
—
Stock in U. ,S. interior towns
U. S.
exports to-day
....—
Total visible supply
2,053,017 2 ,195,395
Of the above, totals of American and other
Aim £>vi mm——
§5
95
1,605,473
descriptions
are as
________
—
American afloat for Europe
tJ. S. port stocks...
424,000
324,000
15,000
174,000
216,156
_
Continental stock.
i-
.52,000
293,000
182,397
305,696
118,234
2,068
197,652
—
U.S. interior stocks.:
1'24,197
tp-day
8,012
—
.1,089,017
1,157
1,695
99,000
Egypt, Brazil, &c., afloat
42,000
Stock in Alexandria, Egypt
;
67,000
Stock in Bombay, India—527,000
—
..
—
964,000
1,089,017
Totabvisible supply.— .2.053,017
Middling Upland, Liverpool...-.
7.35d.
Middling Upland, New York
13 00c.
Egypt, Good Brown, Liverpool..
10.55d.
Peruvian. Rough Good, Liverpool
8.60d.
Broach, Fine, Liverpool—•
6^d.
Tinnevelly, Good, Liverpool
6 9-16d.
•
144.000
6,000
154,000
83,000
18,000
31,000
72.000
9,000
12,000
49,000
36,000
6,000
5,000
36,000
70,000
26,000
34,000
447,000
25,000
37,000
402,000
1,001
___
*
1913
778,000
1,377,395
724,000
881,743
652.000
772,228
2,155,395 1,605.743
6.62d.
7.32d.
11.75c.
11.90c.
10 3H6d.
10%d.
lOOOd.
10.40d.
6?^d.
6%d.
6 3-16(1.
6 7-16d.
1,424.228
8.03d.
14.00c.
1334d.
10.75d.
.
7^d.
7 l-16d.
Sight and. Spinners'
Takings..
-
' :
FOR
Since
Sept. 1.
153,476
Receipts at ports to Sept. 5r
153.476
Net overland to Sept. 5—
1,695
Southern consumption to Sept. 5. 60,000
Total marketed
'
.215,171
....
Interior stocks in excess..
14,869
.
Week.
Since
Sept. 1.
101,240
1,419
50,000
121.123
106.012
1.747
56,000
1\001
48,000
152,759
9,693
178,870
155,013
24,353
21,198
230,04d
Total in sight Sept. 5—_.
North,
'
162,452
spinners'takings to Sept. 5
Movement• into
Bales.
,
8...
9—
10-
— —
—
176,211
34,190
..."
sight in previous
Week—
19ll—Sept.
1910—Set>t.
1909—Sept.
203,223
13,164
years.
Since Sept. 1—
Bales.
8___
—184,818 1911—Sept.
9—.-..-132,452 1910—Sept.
.231,221 1909—Sept, 10——
-
-
.
214,694
170,756
*-301.721
—
—
OPTION MARKET.—The highest,
closing quotations for leading Options in the New
Orleans cotton market for the past week have been as follows:
ORLEANS
NEW
lowest and
Sat'day
Aug.
3
Monday. Tuesday.
Sept. 1.
Sept. 2.
Wed'day. Thursd'y,
Sept. 3.
Sept. 4.
Friday.
Sept. 5.
September—
;
MIDDLING
Closing Qoutations for Middling Cotton
on-
Week ending
Range..
Closing..
_
12.69-.14 12.78-^.85 12.68-.84
.
12.75-.80 12.90
..
Tuesday. Wed'day. Thursd'y.
Friday
—
12.78-.80 12.45
—
October—
12.40-.93 12.82-.32 12.90-. 15 12.35-.95
Range
Closing
November—
12.85-.86 13.07-.08 12.92-.93 12.56-.57
12.10
Range
Closing
December—
.
—
12.86-. 88 13.08-.10 12.95-.97 12.59-.61
'l2.42-.97
12.87-.37 12.97-.20 12.44-.03
12.88-.89 13.11-.12 12.98-.99 12.64-.65
Range
Sat'day. I Monday.
1912
Week.
23,000
35,000
394,000
•
COTTON
AT
OTHER MARKETS.—Below are the closing quotations
of middling cotton at Southern and other principal cotton
markets for each day of the week.
Sept. 5.
,
'
In
of 2,708 bales, a loss of 102,378'bales from 1912, an excess
of 447,274 bales over* *1911 and a gain of 628,789 bales over
QUOTATIONS
1,325
1,325
1.747
.
foregoing shows the week's net overland movement has
against 1,001 bales for the week last year,
season to date the aggregate Bet overland
exhibits an increase over a year ago of 418 bales.
"
59
11,010
Continental imports for past week have been 33,000 bales.
The above figures for 1913 show a gain over last week
1910.
S61
1,419
been 1,695 bales,
and that for the
176,638
197,525
61,006
772,223
43,006
_
India afloat for Europe
_
105.000
881,473
5,000
'10,000
...
5
1,225
♦Including movement by rail to Canada.
216,000
16,000
183,000
16,000
59,000'
237,834
251,746
122,883
1,377,395
171,000
Total East India, &c_.
Total American
5
1,225
r
1,424,228
follows:
.
Liverpool stock
London stock
Manchester stock.
Continental stock.
13
581
_
Inland, &c., from South
The
.bales.
Manchester stock.
Total American
East Indian, Brazil, dkc.—
13
581
Total to be deducted
35,000
394,000
197,525
61,006
59
>
Liverpool stock._
U. S. exports
37,000"
402,000
251,746
122,883
11,010
...
Leaving total net overland*...
Stock in Alexandria, Egypt.
Stock in Bombay, India
Stock in U. S. ports...
Closing
January—
Galveston..
New Orleans.
Mobile
—
12%
13
13
13
Range
HOLI¬
HOLI¬
12 7-16
.
12%
12%
12%
12%
12 11-16
12%
12%
Closing
February—
DAY.
DAY.
12%
12%
12%
12%
13%
Closing
March—
Range
12%
12%
12%
Savannah
Charleston
12%
12%
12%
12%
Wilmington
Norfolk.
HOLT-
HOLI¬
DAY.
DAY.
13
12%
12%
12%
13.25
13.55
I
12%
1
Houston
12%
12%
12%
12%
Little Rock
11%
Baltimore
Philadelphia
...
Augusta
Memphis
St.
Louis
13
13 %
13.50
13
12%
12%.
12%
12%
13 3-16
12%
13 1-16
12%
13.25
12%
12%
12%
12%
12%
Range—
_
12.88-.90 13.12-.14 12.98-.00 12.65-.67
12.57-. 02 13.05-.49 13.10-.27 12.52-.12
13.01-.03 13.24-.25 13.10-.11 12.73-.74
Closing
May—
Range
12.45-.98 12.90-.41 12.99-.25 12.46-.06
12.91-.92 13.15-.16 13.01-.02 12.65-.69
—
.
Closing.....
12.67-.13 13.13-.54 13.18-32 12.93-.18
13.10-. 12 13.33-.35 13.18-.19 12.78-.80
ToneFirm.
Spot.
Options:
_
_
Firm.
Stfeady.
Steady.
Steady.
Steady.
Quiet.
Steady.
SEPT. 6 1913.]
CHRONICLE
THE
Meridian, Miss.—Rain has fallen oh two days during the
week, the rainfall being fifty hundredths of an inch.
The
thermometer has ranged from 68 to 96, averaging 82.
Vicksbura, Miss — Rain has fallen on two days of the week,
the rainfall being sixty-six hundredths of an inch.
Average
thermometer 83, highest 95, lowest 71.
Mobile, Ala.—The weather is fine for harvesting and pick¬
ing is progressing rapidly.
Dry all the week. The ther¬
mometer has averaged 79, the highest being 94 and the low¬
WEATHER REPORTS BY TELEGRAPH.—Advices to
by telegraph this evening from the South denote that
while in Atlantic sections and to some extent in Gulf dis¬
us
beneficial rain during the week, only
been reported in Texas. The
tricts there has been
showers
occasional
have
,
drought in the greater part of that State is consequently un¬
broken and further complaints of dry weather come from
In
Arkansas.
and
Oklahoma
many
localities
picking
progressing rapidly and the movement of cotton is
liberal scale.
"
is
^
.
unbroken in the greater part
of the State.
We have had rain
.days during the "week, the rainfall being ninety-six
hundredths of an inch.
The thermometer has ranged from
two
74 to 91,
averaging 83.
Abilene, Tex.—Rain has
week,
the. rainfall
Minimum
fallen lightly
on
one
day of
being^ twelve hundredths of
Month's
68.
temperature
an inch.
an
rainfall,
the
inch.
sixty-nine
80, highest 92 and lowest 68.
Savannah, Ga.—There has been rain on two days of the
hundredths of
been rain on one day during the
week, the rainfall being twenty-eight hundredths of an inch.
Brenham, Tex.—There has
week, to the extent of one inch and eight hundredths.
The
thermometer has averaged 80, the highest being 90 and the
averaged 84, the highest being 98 and
the lowest 70.
August rainfall, 2.88 inches..
Cuero, Tex.—We have had light rain on two days of the
•week, the precipitation being eighteen hundredths of an inch.
The thermometer has averaged 84, ranging from 70 to 98.
August rainfall, 1.40 inches.
Dallas, Tex.—Dry all the week.
Average thermometer
88, highest 106, lowest 70.
Month's rainfall, seventy hun¬
The thermometer has
dredths of
an
inch.
■
■•■X"''-''-''-d
Washington, Ga— It has rained on one day during the
week, the precipitation reaching thirty hundredths of an inch.
The thermometer has averaged 77, ranging from 63 to 90■
Dyersburg, Tenn.—Dry all the week.
The thermometer
has ranged from 58 to 99, averaging 79.
Milan, Tenn.—No rain the past woek.
Average ther¬
mometer 77, highest 100, lowest 54.
'
Memphis, Tenn—There is some complaint of deteriora¬
tion on account of lack of moisture, but the crop generally is
\
August rainfall, 0.78 inch.
Huntsville, Tex,—There has boon rain on two days the past
lowest 70.
week, the rainfall reaching eighty-eight hundredths of an
inch.
The thermometer has averaged 82, ranging from 68
to 96.
Month's rainfalll 0.84 inch.
-
Kerrville, Tex.—We have had light rain on three days
during the week, the rainfall being eighteen hundredths of
an
inch.
The thermometer has ranged from 62 to 98,
hiding, Tex.—There has been rain on four days the past
.
,
week, the rainfall reaching one inch and fourteen hundredths.
The thermometer* has averaged 84, ranging from 70 to 98.
from 63 to 91.
.
Nacogdoches, Tel.—We have had no rain during the wreek.
The thermdmeter has ranged from 66 to 96, averaging 81.
Spartanburg, S. C.—We have had rain
dredths.
rain on one day during the
hundredths of an inch. Aver¬
thermometer 82, highest 96, lowest 68.
Month's rain¬
averaging 78.
Charlotte, N. C.—We have had rain on one day during the
week, the rainfall being one inch and twenty-two hundredths.
Average thermometer 77, highest 89, lowest 65.
Lumber ton, N. C.—There has been rain on four days of the
week, to the extent of one inch'and eighty-three hundredths.
The thermometer has averaged 79, the highest being 94 and
...
week, the rainfall being two
age
fall 0-23 inch.
''
Paris, Tex.—There has beon no rain during the week. • The
thermometer has averaged 88, the highest being 106 and the
lowest 70.
August rainfall 0.36 inch..
San Antonio, Tex.—We have had rain on four days during
the week, to the extent of seventy-four hundredths of an inch.
The thermometer has averaged S3, ranging from 68 to 98.'
.
.
the lowest 63.
.
Month's rainfall 1.21 inches.
;
•
from 64 to 86.
low st 53.
.
;.
•
following statement .we have also received by tele¬
graph, showing the height of the rivers at the points named1
at 8
a.
of the dates
m.
given:
•
■
"
*
Holdenville, Okla..—It has been dry* all the week.
The
ranging from 56 to 103.
Mariow, Okla.—We have had no rain during the week.
The thermometer has ranged from 67 to 104, averaging 79.
Helena, Ark.—Dry all the week.
Avarage thermometer
New
Above
„a.
____
Below.
of gauge.
zero
of gauge.
zero
-
,
';
-
•.
.
WORLD'S SUPPLY AND TAKINGS OF
COTTON.
1912.
1913:
Cotton Takings.
and Season.
"
Sept. 6 1912.
Feet.
5.5
14.5
'
7.6 '
*1.0
16.0 J
•
.
5.3
,
,
4 6
6 7
6.9
*4.7
Above zero of gauge.
Above zero of gauge.
Shreveport..
Vicksburg..
*
5 1913.
Feet,
Sept.
1
Above zero of gauges
Above
Nashville
79, highest 98, Jowost 60.
Eldorado, Ark.—Dry all
the week.
The thermometer
has averaged 80, the highest being 101 and the lowest 69.
Little Rock, Ark.—We have had no rain during the week.
The thermometer has averaged 87, ranging from 73 to 101.
Rain is badly needed.
Alexandria, La.—Rain has fallen on two days during the
week, the rainfall being forty hundredths of an inch.
The
thermometer has ranged from 66 to 97, averaging 81.
New Orleans, La.—The week's rainfall has been fifty-nine
hundredths of an inch, on one day.
Average thermometer
81, highest 93, lowest 69.
Shreveport, La.—The week's rainfall has been twenty-four
hundredths of an inch, on one day.
The thermometer has
averaged 84, the highest being 98 and the lowest 70.
Columbus, Miss.—We have had rain on one day during
the week, to the extent of eleven hundredths of an inch.
The thermometer has averaged 84, ranging from 66 to 102.
Orleans
Memphis
*
/
:
•
.
thermometer has averaged 79,
:
The
Ardmore, Okla —We have had no rain the past week. The,
thormometor has averaged 79, the highest being 107 and the
.
;
'
-
,
Raleigh, N. C.-—There has been rain on four days the past
week, the rainfall reaching three inches and twenty-eight
hundredths.' The thermometer has averaged 75, ranging
Taylor, Tex—We have had rain on one day during the
week", the rainfall being four hundredths of an inch. Mini¬
mum temperature 66.Month's rainfall 2.07 inches.
Weatherford, Tex.—No rain the past week. ' Average ther¬
mometer 83, highest 98 and lowest 68.
August rainfall
0.32 inch.
throe days during
on
the week, the precipitation reaching two inches and six hun¬
The thermometer has ranged from 64 to 92,,
*
Palestine,. Tex.—We have had
i
:
•
two days of the week, the
on
precipitation reaching, fifteen hundredths of an inch.
The
thermometer has ranged from 70 to 90, averaging 80.
Tallahassee, Fla.—We have had rains on four days during
the week, the rainfall being one inch and fourteen hun¬
dredths.
Average thermometer 80, highest 92, lowest 68.
Charleston, S. C.—The week's rainfall has been twenty-two
hundredths of an inch, on tivo days.
The thermomoter has
averaged 80, the highest being 90 and the lowest 70. •
Greenville, S. C.—It has rained en three days during the
week, the precipitation reaching one inch and sixty-nine
hundredths.
The thermometer has averagod 77, ranging
.
Month's rainfall 0.68 inch.
'
Madison, Fla.—It has rained
.
/
doing well and opening fast.
We have had rain on*0ne day
the past week, to the extent of one hundredth of an inch
The thermometer has averaged 82, the highest being 97 and
the lowest 67.
Month's rainfall, 3.09 inches.
•
Gainesville, Fla.—There has been rain on three days the
past week, the rainfall reaching seventy-nine hundredths of
an inch.
The thermometer has averaged 80, ranging from
69 to 91.
averaging 79.
August rainfall, 0.84 inch.
Lampasas, Tex.—We have had rain on two days during
the week, the rainfall being forty-six hundredths of an inch.
Average thermometer 79, highest 94, lowest 64.
Month's
rainfall 1.32 inches.
'wC-.b?v/A'v
Lonqview, Tex.—We have had no rain the past week.
The thermometer has averaged 86; the highest being 100
and the lowest 68.
August rainfall 0.22 inch.
,
August rainfall 3.52 inches.
70.
lowest
...
Henrietta, Tex.—It has been dry all the week.
The ther¬
mometer has averaged 86, the highest being 102 and the
'
•
.
Montgomery, Ala.—Good showers this we^k; beneficial to
cotton.
It has rained four days during the week, the pre¬
cipitation reaching eighty-four hundredths of an inch.
The
thermometer has averaged 82, ranging from 68 to 96.
Selma, Ala.—We have had rain on threo days during the
week, the precipitation reaching two inches and tan hun¬
dredths.
The thermometer has ranged from 69 to 92,i
averaging 79.
Augusta, Ga.—This week's rainfall has been, twenty-one
hundredths of an inch, on two days.
Average thermometer
Galveston, Tex.—The weather has been hot and dry, with
occasional showors in a few localities.
The drought is still
on
72.
est
fairly
on a
67:1
Week
Week,
Visible supply Aug. 29
Visible supply Sept. 1
230",040
Bombay receipts to Sept. 4.
Other India ship'ts to Sept. 4~Alexandria receipts to Sept. 3.
Other supply to Sept 3*
9,000
11,000
4,000
6,000
Week.
,
Season.
2,126,585
2,050,309
American in sight to Sept. 5...
Total
Season.
2,055,351
162,452
6,000
203",223
8,135,485
176,211
7,000
7,000
4,000
4,000
3,000
2,310,349
supply
4,000
2,000
7,000
7,000
1,000
2.233,803 2,348,808
2,329,696
2,055,351
2,055,351 2,155,395
2,155,395
•
1,000
Deduct—
Visible supply to Sept. 5_.
Total takings to Sept. oa.
254,998
Of which American
Of which other.
*
50,000
_
Embraces receipts
178,452
128,452
193,413
174,301
164,301
10,000
in Europe from Brazil, Smyrna, West Indies, &c.
1 the total estimated consumption by
50,000 bales in 1913 and 48,000 bales in 1912—takings
available—and the aggregate amounts taken by Northern and
foreign spinners, 128,452 bales in 1913 and 126,301 bales in 1912,of which
78,452 bales and 116,301 bales American.
a
This total embraces since Sept.
Southern mills
not being
674
THE
CHRONICLE
THE AGRICULTURAL DEPARTMENT'S AUGUST
REPORT.—The following statement, showing the condition
of cotton
Aug. 25,
on
culture Sept.
issued by the Department of Agri¬
was
2:
The Crop Reporting Board of the Bureau of Statistics of the United
States Department of Agriculture estimates, from the reports of the
correspondents and agents of the Bureau, that the condition of the cotton
crop on Aug. 25 was 68.2% of a normal, as compared with 79.6 on July 25
1913, 74.8 on Aug. 25 1912, 73.2 on Aug. 25 1911, and 74.7, the average
on Aug. 25 of the past ten
years.
Comparisons of conditions, by States, follow:
Aug. 25
1913.
1913.
States—
Virginia.
—
—
80,
78:
—
North Carolnia......
1
South Carolina............
Georgia———
Florida
_
—
...
.
"
81
77"
77
75
'
76
70
81
82
79
73
75
69
67
77
79
64
72
—
76
81
72
—
...
Alabama
Mississippi..
-—Aug. 25—*
1912.
1911.10-i/r.ar.
80
96
82
75
76
78
73
74'
77
July 25
81
87
85
80
70
69
68
78
88
88
62
100
,
80
—
_
Texas
Arkansas
...
Tennessee.-...^-.
Missouri.
_
Oklahoma.
California.
'
90
72
;
Louisiana
*
86
70
74
76
77
76
78
81
84
100
95
45
90
2.
'
years are
1912
78.9
1908
1907.
74.6
79.7
i,...
81.2
72.0
70.5
1906
84.6
77.2
1905
'.
—
—
—
COTTON
82.9
74.9
77.0
88.0
91;6
77.1
79.7
84-1.
81.2
79.9
80.2
80.0
74.7
CROP
REPORT—In
•
178.3
202.5
186.1
75.8
65.1;
204.9
174.5
18G.5
editorial
our
190.9
207.7
170.7
154.3
194.9
68.6
83.0
Average,. 1903-12-.—
<
69.6
71.1
65.9
58.5
69.7
67.7
71.6
71.2
.74.1
t
-
—
83.3
1
columns
will bo found to-day our annual Review of the Cotton Crop.
The report has been prepared in circular form, and the cir¬
culars may
EGYPTIAN
l",506
2,500
V-/:
■
300
300
6,550
_
2,300
9,500
COTTON
1,500
1,500
10,250
CROP.—Messrs.
Co., Boston, have the following
Aug. 9 1913:
tinues favorable to cotton.
bolls.
10,250
L.
H.
A.
report from
crop
»From Behera and also from north of the Gar-
■
,
MANCHESTER
MARKET.—Our
report received by
to-night from. Manchester states that the market
continues firm for both yarns and shirtings.
Stocks of both
yarns and goods are accumulating.
We give the prices for
to-day below and leave those for prev ous weeks of this and
last year for comparison.
cable
1913
MORRIS H
1
d
<]
«
h vi
@11
<c
|9 13-16
»
5
6
6:61
11
3w;
6.57 10
11 4 6
4
>^11
7 37
104 6
4
© 11
6.96
10 %
3
11
6 72
f9,10
10
@10 15-166
1-16
a
number of the
WOODWARD, BALDWIN & CO.,
@10^' 6
10 H 6
O
@11
6.43
Oh
10 H
6
0
11
6.40
22
leading dry goods
com¬
bank¬
\9%
@
10
6
OH
9%
10 Vs 6
1
3
6.62:9*4
7,00,9**
@11
@
7.35 94
11
©11
11J4 6
9»4'
@
7.24
4
j0
6
7 31
11
*
104 6
104 0
3
@11
6.60
2
@11
6.40
104 6
2
©11
Septi
'10**
®
9
CATLTN & CO.,
L. F. DOMMERICH & CO.,
BLISS, FABYAN & CO.,
SCHEFER, SCHRAMM & VOGEL;
INTERNATIONAL COTTON MILLS.
INDIA COTTON MOVEMENT FROM ALL PORTS.—
have been
as
follows:
11913.
1912.
Since
Week.
9,000'
Sept.
Since
1.
0,000
Week.
Since
Week.
Sept. 1.
7,000
.7,000
4,000
Sept.
1.
4,000
Great
Conti-
&China
Great
Japan
nent.
Total.
Conti-
Britain*,
nent.
China
Total.
.
:■
1,000
31,000
5,000
2,000
32,000
1,000
1,000
1,000
2,000
6,000
19,000
5,000
2,000
2,000
19,000
1,000
1,000
._
V,66o
2,000
~Y,o66
550
7,962
11,864
101
543
PORT TOWNSEND—To
306
Japan—Sept. 1—Mexico Maru, 825.i„
122
825
-.-140,016
-
The particulars
arranged in
of the foregoing shipments for the week,
usual form, are as follows:
our
Britain.
.
Ger->
—Oth.Europe—Met.,
ports, many.
North.
1.700
2,891'
.
Galveston ——26,990,30,357 35,473
Aransas Pass.
7,962 11,864
_—'
101
Boston
1,000
58
1.
:
Yarmouth—Aug. 29—Calvin Austin, 122——
NeAv Orleans
1,000
9,034
7,962
hEW ORLEANS—To Belfast-rAug. 30—Rathlin Head, 101
To AntAverp—Sept; 2—Waverly, 543
^
306
'
899
&c.
Japan.
Jl..
—
—"
543
;
Total.
15,831
102,404
19,826
58
702
—122
—
Port ToAvnsend.
South.
9,584
—
1913....
1,000
4,055
!
ARANSAS PASS—To Liverpool—Aug. 30—Belgian,
To Havre—Aug. 30—Scythian,
11,864.
New York.__-10,341
Madras—
1,000
—— _
in,418
To Barcelona—Aug. 30—Eugenia, 9,034—
To Trieste—Aug. 30—Eugenia, 550.2----.
Great French
L000
—
„_
— —
1,000
6,000
"
i~,66o
Total bales.
—
Calcutta—
1912....
"
Liverpool—Sept. 3—Baltic, 8,852.
8,852Manchester—Sept. 2—Titian, 1,453 upland, 36 Sea Island.
lilSO
To Havre—Aug. 30—Chicago, 800: Yirginie, 400—Sept/. 2—
Ockley, 450 upland, 50 Sea Island
—
JJ
1,700
To Bremen—Aug. 29—l 'rinz Fried rich Wilhelm, 2,891
2,891
To Genoa—Aug. 30— lArernia, 100-j
100
;-w
To Naples—Aug. 29~-Europa, 300
300
To Trieste—Sept. 2—Raiser Franz Josef I., 399
399
To Venice—Sept. 3—Argentina, 100
100
—
GALVESTON—To Liverpool—Aug. 29—Chancellor, 6,329: Santan
derino, 5.654
Sept. 4—Alexandrian. S,012.__
—
19,995
To Manchester—Aug. 30—Ramon de Larrinaga, 6,995
6,995
To Havre—Aug. 29—Mercian, 10,378; St. Ronald, 8,463;--.
Aug. 30—Ghazee, 11,516----;
30,357
To Bremen—Aug. 29—Sv.anley, 12,571_-.Aug. 30—Olivant,
To
.
1912....
'
•
NEW YORK—To
Total—.
Bombay1913—-
the
149,016 hales.
The shipments in detail, as made
from mail and telegraphic returns, are as follows:
To
Japan
&
reached
Genoa—Sept. 2—Monviso, 58__-___BOSTON—To Liverpool—Aug. 30-^Franconia, 306
Exports
Britain,
page,
To
Since September 1.
For the Week.
previous
10.904; Riverdale, 7,943To Hamburg—Aug. 29—-Westminster.4,055
1911.
September 4.
Receipts at—
a
—
The receipts of India cotton at Bombay and the shipments
from, all India ports for the wreek and for the season from
years
on
6.62
1
exports of cotton from the United States the past week have
up
J. P. STEVENS & CO.,
PEIERLS, BHHLEIi & CO.,
WELLINGTON, SEARS & CO.,
H. A,. CAESAR & CO;,
LAWRENCE & CO.,
WILLIAM I-SELIN & CO.,
JAMES TALCOTT,
FLEITTMAN & CO.,
1911—
11
•
GRINNELL. WILLIS & CO.,
—
d
4H
SHIPPING NEWS.—As shown
Bombay..
Upl>
'8
11
„
@
5
mission merchants, mill selling agents and mercantile
ers in the country.
Those represented are—
N
;
Sept. 1 for three
fl
'
I
29
REYNOLDS & GIBSON,
R. H. IIOOPER & CO.
WILLIAM RAY & CO.,
Also the cards of
\fi d,
iv$@n
6
10 K 6
19**
I
Got'W
finest
■
.
|9 15-16
8
lbs
to
d
8
SIlin¬
ing*, common
32* Cop
To 1st
/la
UvV*
finest
15
^
ROTHSCHILD & CO.
.
to
\
40%
•
Ingx, common
Tinst
d
t»I2.
'"ot'n
Shirt
h lb*
AUg.j
LEHMAN BROS.,
'
HEINE KEN & VOGELSANG^'
W. R. CRAIG & CO.,
32* Cod
18
THOMPSON, TOWLE & CO.,
GWATIIME Y & CO.,
V
J. S. BACHE & CO.,
VAN LEER & CO.,
8
25
GIBERT & CLAY.
HOPKINS. DWIGHT & CO.,
ROBERT MOORE & CO.,
1911....
9,500i
4,500
4",250
bieh Ave have complaints regarding scarcity of Avater.
Boll Avorms are re¬
ported around Dessouk, especially close to the streams and canals.
Magaga.—Up to the present the crop progresses satisfactorily, despite a rather
low temperature for the season.
We observe a normal development of the
July
HERKLOTZ .CORN & CO.,
IT. & B. BEER,
GEO. H. McFADDEN & BRO.
DICK BROTHERS & CO.,
HENRY HENTZ & CO.,
1913—
4,500
4",250
2,250
2,750
2,000
2,750
2,000
Zagazig.—Weather is still cool and cloudy.
Some districts continue to
complain of lack of water, which we believe lias caused some damage, but
of little importance.
Mansourah.—Weather is still favorable to cotton
and plants are veil loaded
with flowers and bulls.
Unfortunately, there
is general complaint of lack of water.
Kafrael-Zayat,—'Temperature con¬
/N:.>
GEO. M. SRUTT & CO.,
LOGAN & BRYAN,
BROS: & CO.,
STEPHEN M. WELD & CO.,
WELD & NEVILLE,
•
from—
2,500
Since
Sept. 1.
Alexandria under date of
■
.
issue of the "Chronicle":
1911
^
business
HUBBARD
500
3,750
2,250
exports
Schwartz &
cards of the following representative
cotton commission and brokerage houses of New York and
other cities will be found in the advertising columns of this
.
2.500
This
Week.
Since
be had in quantities with business card printed
thereon.
Special
1
This
Week.' Sept. 1.
1.
The statement shows that the receipts for the week were.
28,000 cantars and the foreign shipments 6,550 bales.
Yield
74.8
73.2
72.1
' 63.7
76.1
72.7
77.3
72.1
5,000
5,000
23,000
23,000
Since
Week. Sept.
...
Aug. 25. Sept.25, Lbs.,lint
76.5
89.1
75.5
71.9
83.0
75.0
88.2
80.7
81.1
1909
1932
This
Exports (bales)—
Total
t)CT QCfCr
80.4
87.8
82.0
*
,
„
1910—
/
1
To Manchester
84
76
7
'
May 25. June 25. July 25.
1911
—
28,000
13,000
_
Sept.
69
.
—
week.
Since
72
77
83
.
*
Years—
1904-1903
This
.
«
1911.
1912.
Receipts (cantars)—
.
given below:
1913.
To Liverpool.
States
68J2
79.6
74.8
73.2
74.7
For the purpose of comparison, the condition of the cotton crop in the
United States monthly and the estimated yield per acre for the past ten
United
"
Alexandria, Egypt,
Sept. 3.
To Continent and India.
To America
75
xcvii,
now receive a
weekly cable of the movement of cotton at
Alexandria, Egypt.
The following are the receipts and
shipments for the past week and for the corresponding week
of the two previous years:
77
' 78
76
"
[Vol.
—
-
428
825
825
825
—-
140,016
All others—
1913....
8,000
7,000
8,000
9,000
3,000
7,000
7,000
8,000
8,000
3,0001 40,000
1,000: 12,000
1,000 11,000
43,000
13,000
1,000
23,000
12,000
12,000
1,000
11,000
1,000
3,000
7,000
8,000
Total all—
1311..,.
23,000
13,000
12,000
According to the foregoing, Bombay appears to show an
increase, compared with last year, in the week's receipts of
2,000 bales.
Exports from all India ports record a gain of
30,000 bales during the week and since Sept. 1 show an
increase of 10,000 bales.
ALEXANDRIA
RECEIPTS" AND SHIPMENTS OF
COTTON.—'Through arrangements made with Messrs.
Choremi, Benachi & Co., of Boston and Alexandria, we
Total
45,700 43,921
38,364
543
10,541
122
The
exports to Japan since Sept. 1 have been 825 bales
from Pacific ports
Cotton freights at
New< York the past week have been as
follows, quotations being in cents per 100 lbs.:
Mon.
Sat.
Tves.
Wed.
Thurs.
Liverpool
35
35
35
Manchester
30
30
30
30
45® 63
45 @63
45 @63
50
50
50
45 @63
50
45
Havre...
Bremen
_T
______
Trieste
Japan
Bombay—
—
—
'
,
.
,
45
40@45
45
51 @56
45
50
50
50
50
50
50
50
60
— -
45
40@45
51 @56
45
HOLIDAY.
40®45
51 @56
50
—
HOLIDAY.
Barcelona.
Genoa
35
45
Hamburg
Antwerp
Ghent, via Antwerp
Rpval
Fri.
60
60
60
70.
70
70
70
70
70
70
70
-
40@45
51 @56
45
Sept. 6
CHRONICLE
THE
1913.]
LIVERPOOL.—By cable from Liverpool we have the
following statement of the week's sales, stocks, &e., at that
port:
•
Aug. 15.
43,000
2,000
46,000
4,000
1,000
25,000
23,000
27,000
Actual export
Forwarded
6,000
4,000
57,000
573,000
1,000
Total stock— stimated.
Of which American
-
Total imports of the week.
Of which American
Amount afloat
----Of which American
—
53,000
613,000
411,000
20,000
2,000
54,000
.459,000
14,000
„
6,000
42,000
17,000
—
-----
TAKING,
SEPT.
1
63,000
525,000
354,000
16,000
7,000
116,000
74,000
376,000
21,000
16,000
61,000
25,000
29,000
1913.—Brazilian decrease,
7,213
548; African, 3,941; East Indian, 5,509;
American increase, 22,385; West Indian increase, 769;
Net decrease, 967 bales.
bales; Egyptian decrease, 6,910; Peruvian,
total decrease,
24,121 bales.
total increase, 23,154 bales.
The tone of the Liverpool market for spots and futures
of the past week and the daily closing prices of
each day
spot cotton have been as
follows:
Tuesday.
Monday.
Saturday.
Spot.
Wednesday.
Thursday.
Friday.
Fair
Market,
Moderate
business
Good
Moderate
Moderate
demand.
Dull.
12:15
P.M.
doing.
demand.
demand:
demand.
6.97
7.03
7.06
7.40
7.40
7.35
4,000
10,000
8,000
10,000
10,000
9,000
1,000
Mid.Upl'ds
Sales
300
300
Spec .&exp
500
Quiet, gen.
1
point
Market
•opened
Steady at
decline.
Futures.
advance.
Irreg.
Market,
Firm
at
P.M.
The
Firm
at
12@14
Irreg.,
Feverish,
1
pt.
pts.1 adv.
adv.
134 @5
pts.
Prices
pts. dec
.
are given
the basis of upland, good ordinary
on
are
at
dec.
6,® 10
adv.
prices of futures at Liverpool for each day
below.
Irreg.
pts.
Quiet .at
Feverish,
1434 @1634
pts.
134
dpc. to 834 @1034
pt.
pts. adv.
at
15@1634
adv.
adv.
pts.
dec.
pts.
1,500
Strong at
adv.
pts.
8@1134
234 @5
4
500
Steady at
34 @234
4@5 pts.
clause, unless otherwise stated.
The
prices are given in pence and 100ths.
Sat.
Auk. 30
Mon.
.
be influenced in considerable
by the cost of corn,
other grains.
To-day
prices were easier on liquidation of long holdings.
Offer¬
ings were fairly liberal.
Minneapolis wheat stock decreased
170,000 bushels for the woek.
which has
Thus: 6 70 means 6 70-1004.
Wed.
Tues.
6
Thurs.
1234
p.m
Sept. 5.
12 H
p.m.
p.m. p.m. P.m. p.m. p.m.'p.m. p.m. p.m.
4
12 X
12
341
4
1234
4
Fri.
12341
Sat.
2 red
CLOSIN
DAILY
August
Aug-Sep-
d.
d.
d.
d.
d.
d.
p.m.\p.m.
Indian
d.
d.
Sept.-Oct.
6
6
7234 7334 8834
79
6234 63
59
59 34 7534
54 ; 5434 69
54
5434 69
.5434 55 * 6934
7034
5534 56
7134
5634 57
7134
56* 57
4734
43
Nov.-Dec.
Dec.-Jan.
6
Jan.-Feb-
6
4334
Feb.-Mar.
6
45
Mar.-Apr.
Apr .-May
May-June
June-July
July-AugAug-Sep-
6
46
6
4634
6
47
;
6 43
57
72
08
98
94
8734
8734
§8
89
90
8934
8934
8734.
5534 70
53 34 54
6834 86
4533 46 ' 6034 78
55
6
4534
6 4534
05
10
03
04
0834
9434 97
9034 93
84
8634
84
8634
8434 87
8534 88
8634 8834
8634 8834
8634 8834
8434 8634
3f4 91
9734 90
9334 8534, 8634
87
7934 80
87 ' 7934 80
8734 80
j8034
181
8834 80
80 34 81 34
89
89
8034 8134
89
8034 8134
83
85
75
76
8534 76
7634 66
87
78
178
17634
6634
BREADSTUFFS.
.
,
more
than their output, a temporary decline
As a rule,, pur¬
production last
week at Minneapolis, Duluth and Milwaukee was 428,835
barrels, against 385,088 in the previous week.and 374,150
last yoar.
■
;
Wheat resumed its advanco in sympathy with corn. Shorts
covered and there was a better cash doniand reported in the
country.
In fact, more attention was paid to the likeli¬
hood of wheat being substituted for corn in some sections.
This was expected to be notably the case in States like Kan¬
sas and Oklahoma, where winter wheat turned out remarka¬
bly well, while corn, on tho contrary, will yield a small crop;
Stress was laid upon the probable demand for export to
France* where a shortage of 35,000,000 bushels front the 1912
crop is awaited.
There is little question but that our ex¬
portable surplus will be rsadily absorbed.
The effect of
higher prices is to induce a holding policy on the part of the
farmors.
This is evidenced in the lighter receipts reported
at primary markets.
It is significant in this regard that the
visible supply actually decreased 128,000 bushels for the
week.
However, the stbek in the United States is now 44,561,000 bushels, or some 25,000,000 bushels larger than a
year ago.
In other words, were it not for the stimulating
influince of the sensational rise in th9 coarse grains, wheat
prices would probably bo reacting.
The country has noth¬
ing to complain of in the prospects for this crop, which may
touch 760,000,000 bushels,
Private estimates of spring
wheat run from 242,000,000 to 260,000,000 bushels.
Canada
in wheat facilitating the placing of orders.
chases were for prompt shipment.
The
,
yond danger from frost.
well promises to be exceedingly satisfactoiy.
finding it glutinous, explaining the demand from
this source, despite the prevailing high pricos.
A reaction in
the grain market would undoubtedly bring out larger offer¬
ings, as the farmer is less disposed to market his whaat" with
•the, prospect of higher prices.
Speculation, however, will
88 34"
92
96 34
92 34
97
Fri.
8934
92
97 H
corn
made
were
in evidence.
.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon.
Tues.
Wed. Thurs. Fri.
Hoi.
nom.
corn
DAILY
CLOSING
PRICES
CORN
OF
September delivery in elevator_cts_
December delivery in elevator
May delivery in elevator-
nom.
FUTURES
Mon.
Tues.
Holi-
72X
6934
7034
7434
7034
72
day.
noiri.
nom.
nom.
IN
CHICAGO.
Wed. Thurs. Fri.
7534
77 34
76 34
72
73 34
73
7334
75 34
74 34
Oats
ruled firmer in sympathy with wheat and corn, but
rather bearish in tone.
The yield is estimated*
privately at 1,060,000,000 bushels, which means a good aver¬
age crop.
-The interior- receipts ran 317,000,000 bushels
larger for the week and 225,000 greater than last year.
The
farmers have been tempted by high prices to ship actively.
From Canada come roports that the crop is in better condi¬
tion.
To-day prices were easier in sympathy with other
the
news was
Receipts
were
liberal.
Sat.
Standards
Mon.
cts_46-4634
.47-4734
No. 2 white...
\
PRICES OF OATS IN NEW YORK.
: DAILY CLOSING
__
DAILY CLOSING PRICES
Tues.
Wed.
Holiday.
47-4734
48-4834
48-4834
49-4934
OF OATS
Sat.
September delivery in elevator.cts.
December delivery in elevator....
y
May delivery in elevator:.
41
4334
4634
CHICAGO.
Tues.
4134
day.
Wed.
42;
4431
47;
Holi-
Fri.
4834-49 4834-49
4934-50 4934-50
FUTURES IN
Mon.,
_
Thurs.
45J
Thurs. Fri.
42 54
4334
46 34
45 341
4834
4834
The following are closing quotations:
FLOUR.
Winter, low grades____$3 10@$3 50
Winter patents
4 80 @ 5 00
Winter straights
4 20 @ 4 35
Winter clears.
3 85@ 4 15
4 70@ 4 90
Spring patents
4 40© 4 65
Spring straights....
.
Spring clears
...$4
Kansas straights, sacks. 4
Kansas clears, sacks
3
City patents
5
Rye flour.3
Graham flour
3
GRAIN.
Wheat, per bushel—f. o. b.
N. Spring, No. 1
N. Spring, No. 2...
Red winter, No. 2
Hard winter, No. 2 new
Oats, per bushel, new—
...
Standards
No. 2, white
No. 3
...
»
99 34
cts.
No.
00
50
90
60
"
bushel—
2—
Steamer
No.
Rye,
40
30
,
Corn, per
50 9934
9734
97 34
10@$4
20 @ 4
75 @ 4
95@ 6
50® 3
80 @ 4
per
No.
elevator Nominal
elevator Nominal
3
c.i.f. Nominal
bushel—
.
73
2
State and Pennsylvania.
4834 @49
4934 @50 Barley—Malting.
.48 @4834
.
,
Nominal
70@75
WEATHER BULLETIN FOR WEEK ENDING SEPT. 1
—The general
summary of the weather bulletin issued by
the Department of Agriculture for the week ending Sept. 1
is as follows:
A continued and widespread deficiency of precipitation over the great
agricultural districts and a further prolongation of the severe heatwave
the interior portions of the country were again the marked features of
over
the
weather for
In
the week.
the great corn-growing
States both east and west of the Mississippi
temperatures, excessive sunshine and a nearly entire absence of any
beneficial rainfall Still further accentuated the drought conditions that
have prevailed so disastrously in the States to westward of the Mississippi
and to a less extent over much of the region to the eastward.
In the more
western portions the lack of rain has greatly diminished the water supply,
high
and stock water as well as the
supply
In the spring-wheat region high
for domestic use is becoming scarce.
temperatures, bright sunshine
and
afforded ideal conditions for the gathering and
grain crop, but rain was everywhere deficient and is
needed in many portions.
In the cotton-growing States to the eastward of the Mississippi the
favorable conditions of the past several weeks continued, but high tem¬
absence
of precipitation
threshing
of
the
needed in many portions.
In the cotton-growing States to westward of the Mississippi high day
temperatures continued and there was a nearly universal absence of any
beneficial rainfall, save at a few points in Texas.
The drought and heat
continued especially severe in Oklahoma, Southern Missouri, and large
and conditions were ideal for harvesting.
Th;
weather which spelt ruin for corn has swelled the wheat
harvest.
Not alone will the quantity be large, but the
as
9434
Thurs.
8834
peratures and generally deficient rainfall have reduced the soil moisture
now
same
are
8634
903i
9534
practically be¬
being
Northwest
Millers
day.
There has been little rain in the
will also do bettor than expected,
^quality
Holi-
8934
103 34
9734
97r
99!
104
CHICAGO.
Tues. Wed:
8534
109 34
Fri.
new high records during the week on
The shorts covered freely and elevator, in¬
terests were large buyers.
Ample reason was found for the
rise in the weather map, which persistently reported no rain.
The Southwest not only lacks moisture but is parched with
heat, and some fear is expressed for the fall pasturage.
In
Oklahoma a yield of only 12 bushels to the acre is reported,
as compared with 20 bushels in 1912.
As compared with the
latter year, the condition is 31 points less.
The Nebraska
crop will be almost 100,000,000 bushels short.
It is stated
that Oklahoma, Kansas and Missouri have lost all their sur¬
plus corn and must have recourse to other States in the belt.
Estimates of the crop are as low as 2,300,000,000 bushels,
which compares with 3*125,000,000 bushels in 1912.
Under
the circumstances, it is a good thing that the wheat harvest
has turned out well, as otherwise the farming sections would
be in a bad plight.
Thanks to the rains last month, the crop
in Illinois and Iowa was saved, the same being true of por¬
tions of Missouri and Nebraska.
Inasmuch as the Argen¬
tines have sold their surplus, we may be called upon to fill
the demands from abroad.
It is fortunate, therefore, that
the country carried over cormfrom the record-breaking crop
of 1912.
To-day prices were lower on profit-taking.
There
was no change in the weather conditions and reduced esti¬
grain.
Friday Night, September 5th^ 1913.
Flour continues quiet despite a lower basis of prices, and
Ibusiness is chiefly of a routine character.
There is little
tendency to anticipate the future, as buyers still expect a
material readjustment. Strongth of wheat has naturally
tended toward maintaining ^quotations.
Minneapolis and
other interior points report improvement in the demand.
IN
9734
97 34
active trading.
.
Some mills sold
10134
FUTURES
Mon.
Sat.
51
Oct .-Nov.
9834
10034
6
7034
6 6134
day.
9534
9734
9934
10334
9534
9734
September delivery in elevator.ctsDecember delivery in elevator J—
May delivery in elevator
Wed. Thurs.
9434
OF WHEAT
PRICES
Tues.
Holi-
95
Sat.
Cash
d.
d.
Mon.
95
cts.
—
September delivery in elevator
December delivery in elevator
May delivery in elevator
mates
4
upon
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
No.
to
1234
measure
sympathetic effect
a
29,000
4,000
56,000
655,000
took_
Of which exporters took
Sales, American
STOCK
Sept. 5
32,000
1,000
1,000
Sales of the week
Of which speculators
-LIVERPOOL
Aug. 22. Aug. 29.
33,000
2,000
2,000
675
below that, necessary for the best crop development, and more rain is
now
portions 'of Texas, and the lack of rainfall is now being severely felt in
Arkansas and probably in Northern Louisiana.
Over
the Atlantic Coast States from
Virginia northward, moderate
weather continued.
Good rains over much of New. York greatly
relieved the severe drought and prospective deficiencydn the water supply
of the State, while copious rains in New England gave relief from the
somewhat less severe drought that had prevailed in that portion of the dis¬
summer
trict.
tions
Elsewhere rains sufficient for present heeds occurred
"
in many, sec¬
CHRONICLE
THE
From
the Rocky Mountains westward favorable
tinued.
summer
weather
con¬
The
temperatures were generally high, and abundant sunshine
ripening and drying of fruits and other products.
The usual
summer rains prevailed in
portions of the southern mountain and Plateau
regions, being quite heavy, and in some places damaging, especially in
favored the
Nevada.
to
In California local rains occurred in the mountain
districts, replenishing
some extent
the deficient water supply, although it is still very low.
High temperatures continued and the
week
was
The
visible
supply of grain, comprising the stocks in
principal points of accumulation at lake and
seaboard ports Aug. 30 1913 was as follows:
at
STATES
GRAIN
Amer. Bonded
Amer.
Wheat., Wheat.
Corn.
j
.
In thousands.
bush.
bush.
New York... —790
32
bush.
51'
STOCKS.
Amer. Bended
Amer.
Oats.
Oats.
bush.
bush.
bwh.
bush.
bush.
'269
11
42
30
1
2
142
109
Philadelphia
462
89
3
113
Baltimore....
932
16
28
Rye. Barley. Barley.
441
New Orleans.946
Galveston
Toledo
Detroit......
43
afloat-
25
passage
St. Louis
Peoria..
....
83
85
812
1,778
1,270
129
50
9
....
....
1,722
....
2
On Lakes
Total Aug. 30
95
338
267
267
1,974
164
8
189
....
62
1913.-44,561
325
23 1913..44,689
.Total Aug. 31 19l2..19,586
Total Sept. 2 1911..48.057
760
Total Aug.
2,612 24,661
2,617 22,500
1,820
4,160
6,724 20,742
628
....
....
474
447
68
....
CANADIAN GRAIN STOCKS.
Canadian Bonded
Montreal.....
bush.
Qther Canadian..
Oats.
bush.
bush.
1,311
..._
1
....
.868
....
2,156
I
5,687
6,454
2,461
....
:
674
691
441
314
322
41
83
21
....
Canadian
Banded
Rye. Barley. Barley.
bush.
28
4,537
.
1,822
1,454
960
1,356
-
.....
11
2
•
....
bush.
559
bush.
....
.—
—_
....
'
14
175
....
....
-2,220
....
2,640
4,001
4,430
2 1911.. 3,294
Sept.
Oats.
bush.
....
763
Total Aug. 30 1913..
Total Aug. 23 19131.
Total Aug. 31 1912..
Total
Corn.
bush.
1,009
....
Ft.William & Pt.Arthur
;
Bonded
Canadian
Wheat. Wheat.
In thousands.
11
;
31
25
28
33
559
501
..A
....
52
13
a'
summary.
'
Bonded
.
'
Wheat. Wheat.
-
In thousands.
bush.
American
44,561
Canadian............
THE
•
ers
.
619
1,716
76
2,427
211
11,079
35,470
43,202
277
49.590
....1,683
224,579
4,313
282,515
....
499
—
...
397
1 367
53,279
19,667
37,962
19,098
31,699
2,179
15,113
49,225
35
v..—
America
countries
I
.
407
..
America.
South
2
—
350
Bonded
Rye. Barley .Barley
— —
The value of these New York exports since Jan. 1 has been
$17,358,201 in 1913, against $18,179,960 in 1912.
Although the past week has been a short ono on account
of the Labor Day holiday,
trading in domestic cottons has
been active and the undertone firm.
Liberal orders have
been received from jobbers as well as from
manufacturing
trades, while retailers in the markets have been buying
steadily in small lots. Haevy cotton goods, such as ducks,
tickings and denims, display a decidedly firmer tone where
prices have been named.
Tho scarcity of goods in second
hands continues and jobbers are
beginning to realize that they
have allowed their supplies to get too low on
many lines for
fall use.
Good-sized orders, according to reports, are also
being booked on ginghams and prints, and it is expected that
if the raw material continues to
advance, the 5c. price on
prints will not be long available.
Agents and manufac¬
turers
are
becoming greatly alarmed over the prospect
of a shortago in the raw material
production this yoar, and
in many instances prices have been
temporarily withdrawn,
as they do not deem it wise to book orders for tho
long futuro
while so much uncertainty prevails.
The Agricultural Bu¬
bush.
bush.
bush.
325
2,612 24,661
474
674
28
1,822
41
325
2,613 30,348
702
2*381
41
estimated the condition of the cotton crop as of.
Aug. 25
68.2, which is construed in some quarters as meaning a
crop of only 12,800,000 bales.
Buyers of dry "goods gener¬
ally had been looking forward to a crop of at least 14,000,000
760
'
2,628 28,954
1,822
6,621
7,046 25,279
724
441
314
1,955
1,012
1,369
83
bales.
2,640.
bush.
1
.
628
....
DRY
Oats.
5,687
GOODS
Oats.
.....
474
447
68
.—
559
....
21
—_
TRADE.
In the silk trade demand
reau
at
Bleached cottons continue to hold steady,
con¬
active, with the scarcity of raw material causing buy¬
ers
to place liberal orders against next spring. - There
is
some disposition on the part of silk manufacturers to
delay
accepting orders, owing to the expectation of obtaining better
prices later on, but buyers for the same reason are anxious
to get their orders placed early.
The linen trade reports
active buying on the part of retailers for forward account,'
but some hesitancy in buying for spot
delivery. Fear of
a scarcity of linens immediately
following the passage of the
tariff is causing less interest in the reduction in prices which
is expected to take place at that time.
In cotton goods the
feature of greatest concern is the sharp advance in the price
of raw material which has taken place during the
past two
weeks.
The Government report on.the condition of
the
crop was a decided surprise to the manufacturing trade, and
a revision upward in values of finished
goods is nowTooked
for.
Spinners have already advanced several counts of
yarns from a, half to a cent a pound, and will name still
higher prices shortly unless there is a reaction in the price
of cotton.
Spinners as a rule are very poorly covered on
raw material, as they had expected lower
prices with the en¬
trance of the new-crop options.
On the other hand, they
have bookad extensive contracts with weavers at prices which
are now decidedly unprofitable.
The excellent demand for
print cloths continues, but mills are now inclined to refuse
orders at the concessions which they recently named, until
they see what level the raw material market is going to settle
at.
Several popular lines of bleached goods have been ad¬
vanced slightly, while others are held at value.
A quarter
cent reduction in the price of Pepperell drills has
brought
renewed demand from India, and good sales have been re¬
ported during the week.
The sharp advance in cotton is,
however, likely to again check the improvement in the ex¬
port trade.
Unsettled conditions in China continue to
restrain the movement of goods in that market, and stocks
at Chinese ports are reported to be
large.
In woolen and
worsted dress goods many prominent lines for next
spring
are still being held off the
market, owing to tariff uncer¬
sheetings,
particularly wide,
are very firm, while fino and fancy cottons
quite active, with good orders placed on plain
staples; print cloths have developed firmness, with an active
demand for goods to be used during tho next three or four
have
been
months'.*
New
continue in the market.
12
511
_
20100
bush.
Corn.
York, Friday Night, Sept. 5 1913.
All branches of the dry goods trade have been
generally
active during the week, and most departments report the
volume of sales for the month of August well up to expecta¬
tions, and in many instances greater than for the same period
of last year.
Scarcity of supplies is general in all lines as a
result of conservative buying Owing to
tariff fears, and
the price situation is in most instances under the control
of sellers.
There
was
a
good accumulation of orders
over
the three holidays, while a large number of.buy¬
tinues
769
53,193
9,950
23,610
19,199
24,854
Arabia
Jan. I.
3 336
45
bush.
bush.
Total Aug. 30
1913..47,201
Total Aug. 23 1913..48.690
Total Aug. 31 1912..24,016
Total Sept. 2 1911..51,351
Bonded
.
6
—
Indies.
Week.
1 267
......
*
Since
Jan. 1.
2
—i—...—
Total...
130
....
746
32
....
Week."
Europe
India-
Mexico
1912
oSince
.
.
....
45
98
17
....
.
Other
....
....
118
....
Other
China
63
435
473
On Canal and River.__
....
110
as
a
1913—..
NeivYork to Aug. 30—
Britain.
Great
Central
530
420
1,904
1,789
Omaha
38
■
....
39
....
14;'-
....
152
11,893
79
115
Indianapolis
44
.
agents report
of the tariff.
—-
....
....
157
8,881,
.
—
332
....
Kansas
City
930
i...
....
wear
packages, valued at $146,949, their destination being to the
points specified in the table below:
Africa
—-
....
Men's
satisfactory
business for account of next
spring in serges and worsteds,
but as a general thing
buyers are conservative pending the
West
\51
56
_"__i
110
3,083
7,015
2,935'
Minneapolis.....
773
107
___I;
522
■-...
299
Duluth
....
548
....
..11,070
Milwaukee..
154
4
....
195
Chicago
48
....
1,000
1,213
1,145
Buffalo
Amer. Bonded
1,121
Boston..
fair initial business is reported in such lines
a
have been shown.
.y
UNITED
xcvii.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Aug. 30 were 1,683
favorable for drying fruit.
For other tables usually given here, see page 645.
granary
tainties, but
[Vol.
Gray goods, 38>2-inch standard,
are
5}4o.
.
WOOLEN GOODS.—In markets for men's
is
broadening,
plies continue
weaves
quoted at
:
.
wear
demand
particularly for heavyweight goods.
Sup¬
limited and many staples of rough
As regards dress goods, spring
being shown and orders placed are quite satis¬
very
hard to obtain.
aro
fabrics
.V.
are
factory.
» '
'
'
FOREIGN DRY GOODS.—In
linens, buying for spring
1914 has been very encouraging, advances in prices
failing
to check the demand".
Despite the tariff uncertainties/in
view of the small stocks,
buyers find
orders for next season's requirements.
it
necessary to place
Both housekeeping
and dress linens are well taken.
Burlaps rule about un¬
changed, prices remaining firm, influenced by light stocks
and the strength of the Calcutta markets.
Lightweights
are quoted at 6.50c. to 6.55c. and
heavyweights at 8c.
Importations & Warehouse Withdrawals of Dry Goods.
The
importations and warehouse withdrawals of dry goods
this port for the week ending Aug- 30 1913 and since
Jan* 1 1913, and for the corresponding periods of last* year,
at
follows:
as
were
'
.
.
.
-
Imports entered for Consumption for the Week and Since Jan. 1.
Week Ending
■
Aug.
Pkgs.
.
Manufacturers
of—
Wool......
—
Cotton....
'■
Silk
-
—
_
1,060
2,586
1,884
—
1,048
_A ——w—--
2,969
Flax
"
Miscellaneous
30
■
1913.
Since Jan. 1-1913.
Pkgs.
Value.
Value.
.
Total
1913-——
Total
1912.
—
—
—
—
-
9,547
9,731
.
-273.854 '
785,852
885,020
296,863
221,596
2,463,185
2,717,671
21,124
93,435
50,826
60,359
85,031
310,775
350,974
$
5.140,463
26,275,991
22,475,723
13,215,861
8,091,217
75,199,255
78,693.002
Warehouse Withdrawals Thrown upon the Market.
Manufactures of—
Wool
469
118,340
12,082
3,004,056
Cotton-..1,009
290,080
24,303
7,147,839
Silk
451
135,499
7,698
3,037,984
Flax
818
183,257
20,309
4,252,734
Miscellaneous
936
193,479
68.358
3,411,149
—
-
—
—
Total
withdrawals.
3,683
9,547
Total marketed
1913
Total marketed
1912.
920,6.55
2,463,185
132,750
310,775
20,853,762
75,199,255
13,230
16,389
Entered for consumption
3,383,840
3,278,745
443,525
515,557
96,053,017
97,919,906
Imports Entered for Warehouse During
Same Period.
Manufactures of—
Wool.
-
Cotton
—
299
964
Silk.-....Flax
2,137
Miscellaneous
Total
—
877
1,321
—
——
5,598
Entered for consumption—.—9,547
169,519
330,481
118,655
207,249242,307
18,463
31,490
8,867
26,303
83,414
4,332,972
8,868,818
3,418,257
5,781,020
4,133,647
1,068,211
2,463,185
310,775
26,534,714
75,199,255
3 531,396
3,361,619
479,312
514,047
101,733,969
98,312,569
168,537
;
Total imports 1913-—-.-—15 145
Total imports 1912
12,527
Sept. 6
077
CHRONICLE
THE
1913.]
679-.Butler Township, Ind
390--Cadiz, Ohio
390--Cairo, 111-
%\uCIxtBttxtle.
JP14-1933
^
100
16,500
100,000
480,000
92,000
13,000
""al92S"
4
6
390.-Canton, N.Y
542—Carbon Co. S. D. No. 27, Wyo_
679--Carlisle, Iowa
542--Caroline County, Md
PUBLISHED WEEKLY.
.
$10,000
4)4
5
4)4
4
607--California
Price
Amount
Maturity.
Rale.
Name.
Page.
100.151
"""1933.""
100
100
90
100
101.46
4,000
30,000
"""1930
lOb'816
35,000
5
dl9J 8-1933
12,000 1/101.041
Mo
6
d1933-I953
100
35,000
679.-Cass County, Tmxas
5
1914-1926
100
25,000
607—Castile Sch. Dist. No. 1, N. Y_ 5
100
5M
1918
10,000
465—Celina, Ohio
1921
100.002
4)4
40,000
679—Center Township, Ind.—
al921
5)4
100.157
7,757
607--Center Township, Obio
100
90.000
465—Chehalis Co. S. D. 28, Wash— 4)4
al918
100
20,000
4)4
679-_Chemung County, N. Y
4
1915-1916
100
300,000
679—Chicago, Ili
—al915
9,000
4)4
100.41
607—Chicopee, Mass
100
'
4)4
132,000
390--Cincinnati, Ohio
—
4
5
100.227
11,000
607--Circlevilie, Ohio.
—
1933r ~
100
5,000
543—Clarke Co. S. D. No. 6, Wash— 5
1933
100
29,000
543__Clarke Co. S. D. No. 58, Wash. 5
5
1914-1926
100
7,800
679—Clayton, N. Y___
5
K
O
100
49,000
679--Clovis, Cal. (2 issues).---"~a~1924~"
8,000
102.82
5)4
543—Ooitsville Twp. S. D., Ohio
4 •
1938-1941
20,000
608--Columbia County, Pa.
;
al918
100.05"
6,000
679--Columbia Township, Ind___
4)4
104.01
90,500
608--Columbus, Ohio (8 issues).— — 5
1914-1925
18,000
100.233
390.-Concord Twp., Ind.
100
17,900
608—Crawford County, Ind. (2 iss.)_ 4)4
14,000
608--Crawford County, Ohio
<21919
18,000 j/100
608--Crestline, Ohio (2 issues)
5
1,000,000
101.786
543—Cuyahoga County, Ohio
5
137,465
543--Cuyahoga Co., Ohio (4 Issues). 5
1933
100 """
5
12,000
679—Dalles City, Ore—
5
1914-1917
100.45
13,000
608—Dedham, Mass. —u.——t
4K
100
3,200
608.-Delaware County, Ind
12,000
Del Paso lights. Sch. Dist., Cal. 5
680
1923
6
100 """
20,000
680—Demopolis Sch. Dist., Ala
al918
5
7,500
543—Derby Ind. Sch. Dist., Iowa
1943
5
loo.ie"
250,000
391--Dickson County, Tenn
100
10,000
391—Dover, Ohio (2 issues)_T—
5
100
200,000
465—Duluth Ind. S. D., Minn—,
4)4 dl933-1943
94
2,500
543--Eagle Sch. Dist., Cal-,
1916-1932
100.588
17,000
543--East Aurora, N. Y
5
1914-1933
135,000
465—Elmira, N. Y
4)4
al924
96""""
13,000
543—Enosburg Falls, Vt
4
10,000
465—Epwurth, Iowa
;
"""1923""
25.000
100"""
608—Estherville Sch. Dist., Iowa
5
3,500
680--Fair Oaks School District, Cal
7,000
391__Falkville, Ala
1914-1923
101.196
,45.000
608--Fall River, Mass..
4)4
100
1914-1928
30,000
680--Fargo, No. Dak
6
100
1924-1933
76,500
466.-Farmers' Irr. Dist., Neb
6
25,000
680-_Farmington Twp., Ohio
5
55,000
608--Fergus Falls, Minn
al929
18,000
543—Fontana Heights S. D., Cal—.. 6
100
1915-1924
10,000
543--ForkBragg, Calif
a
5
543—Fort Lupton Consol. Sch. Dists.
Nos. 8 and 9, Colo
17,000
100
5
475,000
543--Fort Worth, Tex. (2 issues)
100
al919
15,200
466--Fountain County, Ind—
4H
6
1,500
101.466
608—Franklin Twp., Ind—6
6,000
608—Freeport, Minn
—
fob""""
al919
5
10,000
466—Fremont, Ohio..:
»■
1923
3;000
100.9
680—Fremont Co. S. D. No. 12, Wyo 6
100
36,000
608_-Fullerton, Cal
100
""'1943""
85,000
680--Garfield, N. J——
5
1933
100.12
50,000
680--Gary, Ind
6
100
1914-1923
9,600
544—Gibson County, Ind—
4)4
dl923-1933
100.50
6S0_-Gila Co. Sch.Jbist. No. 26,Ariz. 6
10,000
100
1,500
4)4
60S--Gloversville, N. Y—_
dl 924-1933
4
12,000
544__Grarid Forks, No. Dak—
100 """
4 y2
391 _-Grant County, Ind
6,200
100
680--Grant County, Ind-.
5,300
4)4
100
dl918-1933
6
35,000
391--Grayson County, Tex._
1914-1928
100.699
391--Greenfield F. D., Mass—_ 4)4
50,000
100
1933
5
25,000
608--Grenada, Miss
100
1943
60,000'
680—Haddonfield, N. J
5
40,000
680—Hamtramck, Mich.—
1928""
18,000
680__Hamtramck Tp. S. D,, Mich
5
100
20,000
391-_IIankinson, No. Dak. (3 issues) 5
608—Harrietstown (T.) U. F. S. D.
100.01
al928
28,000
No. 1, N. Y—
5
a 1923
100.285
3,500
5
60S--Harrison, Ohio
97.083
al914
6,000
466—Harrison Sch. Twp., Ind
4)4
1917
101.25
1,000
680—Harrison ToAvnship. Ind
5)4
607--Cartersville,
Terms of
Subscription—Payable in Advance
For One Year i
,..$10 00
0 00
13 00
-
For Six Months
European Subscription
European Subscription
(including postage)
six months (including postage)..
7 50
£2 14s.
£1 lis.
$11 60
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
(including postage)
Canadian Subscription
Subscription includes following Supplements—
Bank and
Quotation (monthly)
Railway Earnings
State and City
Terms of
railway and Industrial
(3 times yearly!
(3 times yearly)
Electric Railway
(monthly)
(semi-annually)
Bankers' convention
(yearly)
Advertising—Per Inch Space
—
_.
— _
,
$4 20
22 00
29 00
(14 agate lines)—
Months
(8 times)...
..
Powh )
Three Months (13 times)
Standing Business Cards < gix months
(2g times)....
Transient matter per inch space
( Two
0,
t,
(.
"
■.
chicago office—Geo.
50 00
87 00
Twelve Months (52 times)
M. Shepherd, 513 Monadnock Block; Tel.Harrison 4012.
Office—Edwards & Smith, 1 Drapers' Gardens, E. C.
London
B. DANA
WILLIAM
COMPANY, Publishers,
Front, Pine and Depeyster Sts.,
P.O. Box 958.
SALES IN AUGUST.
MUNICIPAL BOND
While there
New York.
apparent improvement in the munici¬
was 110
pal bond market last month, the sales were in excess of those
for the same period last year, when, however, they were of
Unsuccessful attempts to sell bonds
as numerous as in the months
preceding, but not a few municipalities managed to sell
privately such issues as they failed to dispose of at pub¬
lic bidding.
Many of the bonds included in our August
only moderate amount .
public sale were
at
total
of sales
absorbed in this
During the
manner.
municipalities sold 471 bond issues, amounting
month 372
to
were
almost
The issuers offered without success numbered
$18,460,897.
150 and reached
a
total of $7,281,982.
-
•
.
_
—
—
—
.
—
of all Government loans of all descriptions
The aggregate
—
disposed of during August was $46,674,761, including, in ad¬
•
—
dition to the $18,460,897 permanent
$18,162,758
loans and also $10,051; 106 deben¬
temporary
municipalities. We give below
comparison of all the various forms of loans negotiated in
tures
a
loans referred to above,
put out by Canadian
"V
August of the last five years.
— ,
—
———
■
1913.
1912.
g
1910.
g
1911.
g
:
.
g
"1909.
g
——
S.)-18,460,897 15,674,855 22,522,613 14,878,122 22,141,716
Temporary loans (U. S.)_18,162,758 20,146,851
9,289,806 8,304,541 5,543,080
Canadian loans (perm't).10,051,106
4,061,151
1,245,243
1,260,163 4,381,826
Bonds of U. S. Possessions
None
1,500,000
None
None
1,500,000
Gen. Fund bds. (N.Y.C.)
None
5.000,000,
None
None
None
Permanent loans (U.
Total
A
46,674,761 46,382,857 33,057,662 24,442,826 33,566,622
The number of places
nent bonds and
in the United States selling perma¬
the number of separate issues made during
372 and 471, respectively. This contrasts
and 649 for July 1913 and with 453 and 558 for
August 1913
with 416
were
"
'.'•'•A 4/
For comparative purposes we add the following table,
showing the aggregates for August and the eight months for
a series of years.
In these figures temporary loans and also
issues by Canadian municipalities are excluded.
August
1912.
'"y":
■
,
Eight Mos.
August.
Eight Mos_
$8,009,256
15-,430,390
7,112,834
5,865,510
.
1910
•
.
1909.
^55,029,784
_
.....
1907'.....
1906
For the
.
1911
1908
Month of.
August:
1912
For the
$255,702,011 1902.
.$18,460,897
292,443,278 1901.
15,674,855288,016,280 1900.
22,522,613
•213,557,021 1899.
14,878,122
249,387,680 1898.
22,141,716
208,709,303 1897.
18,518,046
151,775,887 1896.
20,075,541
16,391,587
144,171,927 18*95.
131,196,527 1894.
8,595,171
16,124,577
187,226,986 1893.
7.737.240
102,983,914 '1892.
j
6,449,536
4,045,500
8,464,431
7,525,260
2,734,714
4,108,491
.
.
.
1905,
.
1904.....
1903.....
.
.
In, the following table We give a list
the amount of
the
-
— _
A
6
544_-Harrison Twp. S. D., Ohio
6
466—Hedger School District, Cal391-.Hetnpstead (T.) U. F. S. D.
No. 24, N. Y
680—Hempstead (T.) Com. S. D.
No. 28, N. Y_
5)4
609—Hoboken, N.J
5
466—Hoboken, N. J
:
4)4
680—Holden School District, Mo
5
680—Holland, Mich.
5
$10S,499,201
84,915,945
93,160,542
87,824,844
76,976,894
97,114,772
.
52,535,959
80,830,704
82,205,489
37,089,429
57,340,882
of September loans to
$18,460,897, issued by 372 municipalities.
In
in the
of each loan reference is made to the page
"Chronicle" where
Page.
an
account of the sale
Name.
Rate.
is given.
Maturity.
$150,00012/100.05
50,000/
"
15 ^2
607. .Allen County, Ind
607.-Alliance, Ohio
542--Amherst, Ohio (9 issues)
607.-Ashland, Ohio
607--Ashland County, Ohio
4
5
389--Ashtabula Sch. Dist., Ohio
389--Auburn, Ind
•-
5
542--Audubon, Iowa
542--Audubon. N.J
542--Auglaize County, Ohio
679--Babylon, N. Y
542—Barboursviile, W. Va
542--Bartholomew Co., Ind. (2 issues)
542__Batavia, N. Y_
464--Belleville, N. J. (2 issues)
679—Berlin, N.H
679--Boone County, Ind
679-_Boston Twp., Mich
464-_Box Butte County, Neb„
542--Brawley Un. High S. D., Cal__
464--Brockton, Mass
679--Buffalo, N. Y. (2issues)._—
4,416
1923
5
5
5)4
"~al918 ""
al918
1922-1941.
—
6
"\~19~14~~~
514
"~al925~~~
4)4
dl914-1923
414
1943
1914-1923
4)4
5
5
1,300
66,550
5,000
40,000
20,000
127,000
8,000
65,000
43,000
20,000
12,500
5
6
5
Price.
392—Holyoke, Mass. (2 issues)
466- -Huntington, VV. Va. (2 issues)
544_-Huron County, Ohio
609—Inglewood, Cal
;
466—Ithaca, Mich_
609..Jackson County, Fla
544_-Jackson School Twp., Ind--.--609—Jasper County, Ind. (2issues) —
544.-Jefferson County. Ohio.'
680_..Jefferson County, Ohio
—1_
466_-Jefferson Co., Tenn. (2issues)-544_-Johnson County Ind. (2 issues)
544--Johnstown City S. D., Pa----544--Keen Camp S. D., Cal—.
.609.-Kewaunee Jt. S. D. No. 1, Wis.
609—King County, Wash------—
467 -King C o. S. D; No. 181, Wash_
_
——
.—-
,
1933
9,820
125,000
122,000
150,000
3,920
16,000
65,000
4)4
4
1914-1933
1963
~
----.Kittitas Co. S. D. No. 22.Wash.
.Knoxville, Tenn. (2 issues)....Lackawanna County, Pa
392.
681.
545.
609.
100
392.
/
—
-
545
Liberty Centre, Ohio
609--Lisbon, Ohio-609—Lockport, N. Y
467—Lonoke County, Ark
-r-,
103.551
467--Lorain, Ohio
100
681—Los Angeles, Cal
:
609—Loudon County, Tenn—
100
100
—
«.
—
mt
100.97
101.079
100
50,000
102.28
60,000
30,000 zlOO
»
-
-
-
«M
------
609--Louisville, Miss
392—Loveland, Ohio
392—Lowell, Mass
681 ..Lucas County, Ohio
545—Lykens Township, Ohio
609--Madison County, Fla
392.-Madison County, Ohio
100
100
100.08
1943
300,000
106.166
1943
■
85,000
13,000
10,000
50,000
4,500
247,000
200,000
40,000
30,000
15,000
100,000
3,600
13,710
35,000
100
dl918-1933
5
4)4
5
5)4
1943
al925
5
6
5
1953
al916
5)4
6
5
5
5
a
—
467--Madisonville, Ivy_-—
,
393--Mamaroneck, N. Y. (2issues)—
609--Manchester, N. Y-i.
——
1928
100.911
100
104.3
100
100.5
95
100
100.073
100.29
5
5)4 dl914-1933
1933
5
6
1928
4)4
"a 1915
5
4)4
4)4
5
dl923-1953
5
6
5
5
6
5
4)4
5
6
4
4)4
5
5
5
1924-1933
1914-1925
al930
I " a 1944
al925
1
1914-1933
al923
1923-1943
"a 1919
al934
"
1943
"
1933
—
a 1916
•
100
100
2,500
1921
1914-1928
101.092
27,700
170,000
""
5
5
100.022
150,000
4)4
4)4
6
5
5
102.50
120,000
4
5
5
.Lacon, 111. (2 issues)
.Lakewood, Ohio
.Lamar County, Tex
.Lawrence County, Ind—
.Lebanon, Ind
.Lebanon, Ohio
467—Leflore County, Miss...,
100 085
•»
__
609.
100
100
65,000
1919-1931
—
545.
101.88
100.138
392_;_Holland School District, Mich- 4%
392.
Amount.
100.083
24,000
al930
—
609.
case
1.000
3,002
-
—
100.5
1918
1915-1923
—-
392—Holmes County, Ohio------
Month of
1913.....
—
100
100.445
100
20,000
100
300,000
100
4,500
11,000
36,283 ylOO
200,000
100.137
40,000
4,500
48,000
2,900
100
24,000
100
100
100
100
100
/12,000
t 3,000
100.833
100,000
100
100
7,500
2,000
100
47,080
120,000
35,000
100,000
150,000
32,000
100.371
100.25"
100
fob'"""
100.833
3,000
75,000
12,500
14,000
50,000
102.42
35,000
75,000
20,000
5,000
100.5
100.69
100
.
98
'
100
100.055
100
678
CHRONICLE
THE
Page.
Name.
645--Mansfield, Ohio-
Rate.
Amount
Maturity.
5
-
$111,600
\13,350
609--Marble Cliff, Ohio (2 issues)...
545--Marion County, Ohio
545-.Marquette, Mich
609. .Martins County, Ind
5
C1916
14,000
12,500
100.768
01918
45.000
100
4A
1933
4,300
100
12,500
100
-
681__Mason City Ind. S. D., Iowa..
5"
467-_Maypearl Ind. S. D., Tex
393_-Meadviile, Pa.
681__Meagher Co. S. D. No. 8, Mont.
393--Media School District,«Pa.
4
6
1942
.
"
"a 1923
1914-1922
5H
5
681-.Miami County, Ohio
545--Middlesex Co., N. J. (3 issues).
609--Midland, Pa--.
5
5
1916-1933
5
dl919-1923
5
■
1933
5
.....
-
15,000
60.000
16,000
75,000
10,000
24,000
18,000
143,500
14,000
10,000
18,000
200,000
210,000
271,855
4,200
45,000
4,000
80,000
6,000
15,700
75,000
10,000
27,600
<Z1928-1943
d!1923-1933
6
43*
467--Mentor V. S. D., Ohio
393.-Mercer County, Ohio
_
1916
393--Minnesota
681,-Minnesota (31 issues)
4.
609-_Morgan County, Ind—
4A
681..Morgan Park H. S. D., 111.
5
468.-Mountain View S. D., Cal
5A
609—Mt. Airy Twp., No. Caro
5
681—Mount Carmel, Ind
4A
546.-Mt. Kisco, N. Y. (2 issues)
5
546--Muskingum County, Ohio5
681 _-Muskogee, Okla
5
681--Nebraska (4 issues)
5
393-- Nelson Twp. S. D., Ohio._5
610-_New Castle Cb., Del. (3 issues). 4A
546_-New Concord, Ohio
6
468__New Haven, Conn....
4
546--Newport, Ky
4
681--New York City (2 issues)
3
681-_Nez Perce, Idaho
6
546--Northampton, Mass
4A
610__North Hempstead U. F. S. D.
No. 7, N. Y
5
681--Northwest Twp., Ind—
;
6
610__Oakland, Cal
>.
5A
546--Ogdensburg, N. Y
4A
546—Ogdensburg, N. Y
5
546-_Okanogan Co. Cons. S. D. No.
103, Wash-..
5A
546--Omaha, Neb
5
468.-Oneida, N. Y
5
—
1918-1932
1943
01923 1
~
"ol93"4
1938
-
...
—
____
—_
546—Orange, N. J. (2 issues)
682-_Orange Township, Ohio
610-_Orangeville S. T., Ind
394--Ovid, Mich
468__Ottawa County, Mich
682__Oshkosh, Wis.
_'ol927"""
1914-1923
*
1914-1943
'01923
01915
5,000
50,000
3,984
100,000
4,000
1,200
6,000
50,000
2,000
15,000
6,000
65,000
01914-1933
1933
1914-1923
1919
01916
1914-1919
i_-
4A
5
5
6
5
434
4M
6
6
546--Perry, N. Y_
—
—
1928
5
—
—
"""1943
(21914-1923
4,48316,000
19141929
220,000
150,000
36,000
(21923-1933
1923
610__Portland, Ore
682.-Portland, Ore
394.-Portsmouth, Ohio (4 issues)
394__Posey County, Ind. (2 issues)-682..Pulaski County, Ind
i—
682__Putnam County, Ohio
682_.Putnam County, Ohio.
-
—
—
-
-
—
101.941
99.75
97.75
'
1914-1918
1914-1916
9,200]
1,800
5,000
12,000
.20,000
49,750'
1914-1916
ol918
102.045
100
100
lOO""
100
'
89,000
32,990
400,000
797,834
101.
102.576
100
100
100
100
.
100
100
100
99.333
100
100
100*
100
101.163
20,000
93.78
100
100
100
100.59
101.12
100.555
100
100.833
100
13,500
8,000
100
100.02~
100
100
100
100
100.075
100
*
lOO""
100
11,000
60,000
lOO""
9,650
5,000
D.
No.
100.621
100
-,^--7-
£
6
5
469-.'Stockton H. S. D., Cal—5
469—Stevens Co. S. D. No. 85,Wash.
469..Stockton S. D., Cal---
5
547--Story City, Iowa
683._Stryker, Ohio— —
— 1
395—Summerfield S. D., Ohio-^-i--.
469--Sunbury, Ohio (4 issues).-.
683..Superior, Wis.
— — — ——
683..Sutter School District, Cal
611--Sweetwater Co. S. D. No. 4,
Wyo
-547-.Syracuse, N. Y
683__Tacoma, Wash. (7 issues)
547—Teaneck Twp. S. D..N.J
547--Texas (52 issues)
548--Trenton, N. J. (2 issues)
611-.Trinity County, Tex. (2 issues).
683—Twin Falls Co. S. D. 5, Idaho.
397—Uhrichsville, Ohio
611 -.Union, N. J
611—Vanderburg County, Ind
611--Wabash Co. S. D. No. 33, 111—
611--Wahkiakum Co. S. D. 8, Wash548--Walla Walla Co. S. D. 75, Wash.
683—Wallace Ind. S. D:, Idaho
611--Warren County, Ind—
548--Washington Twp., Ind
548--Washington Twp., Ind
548-.Washington Twp., Ohio
—
611
--Watervliet,N.nY_
611—Watertown, Mass. (2 issues)397--Wayne County, Ind:
,
—
1933
534
5
6 "
5A
4A
ol922
1915-1935
"ol93T"
"ai919"
1933
5
Name.
8,000
32,862"
2,000
40,000
45,000
8,000
23,000
9,000
"20,300
26,200
7,000
468--New Mexico
540__Nevada (3 issues, March).____
All
the
above
6
1923 1937
a1924
-
7
5
a
1922
5
4A
5
6
5
4
A
4A
5
6
1933
——
ol935
a 1919
1915-1933
(21914-1923
5A
(21918-1923
5
(21923-1933
4
4?^
43d>
5A
01918
4A
4A
4A
1933
01919"
Amount.
Amount.
Maturity.
1918-1924
:
6
5
5
6
$4,200
56,680
150,000
15,500
15,000
:
'
' ""1943"
1943
1933
Price.
100
100
100
101.612
100
4A
1915-1941
1915-1941
5
1913-1917
265,000\il00
5
1913-1917
224,000/
5
1925-1937
1926
25,000
35,000
10,000
20,000
40,000
5,000
150,000
189,393
50,000
75,000
14,800
4,000*
40,000
488,900
450,000
300,000
11,415
45,000
6
1923
6
5
4A
1918-1932
1932
.
5
1914-1933
4A
dl923-1933
6
al945
1932
4A
6
4
1933
5
dl933-1953
5
1933
5
a1916 >
6
,
di 917-1938
1918
5
6
18,000
1,000
20,000
15,000
15,330
;
5
6
1933
5
1918
1933
4A
200,000
8,000
,
<*1914-1923
5A
_
101.168
101.125
100
•
102.992
99.81
100
100
100
■
100.90"
100.25
100
100
'
i:
101.444
,100.5
100
100.373
100
100
sales
(except as indicated) are for July.
issues will make the total sales (not
including temporary loans) for that month $22,069,330.
These additional July
DEBENTURES
SOLD
BY
in
CANADIAN
Page.
august.
Name.
Rate.
549—Atorado S. D. No. 2748, Alta.,.
471.-Brandon, Man—
549—Burnaby, B. C—
683—Calgary School District, Alta—
613--Carlton County, Ont—
613--East Edmonton S. D. No. 98,
5
Alta
■
••
*
•1933
1933
1914-1923
1914-1923
1943
5
5
5
684
Orangedale S. D. No. 2807, Alta. 7
684--Ottawa, Ont.
4A
684-_Ottawa, Ont—.
4A
—
1943
5
v
5
4
5
684^-Vancouver, B. C.-472--Weston, Ont—.
—
684--Vvrindspr, Ont_^-_100
diebentures
—
90
V
96
100
100
10,000
12.000
_•
5
'5
•
91.50
88
■96
80,000
60,000
321,500
1,200
236,000
928,706
1923
_
Total
-
1953
-
472—St. Stephen, N. B
,472—Saskatoon, Sask
684_-Saskatoon Sep. Sch. Dist.,Sask.
472.-Saskatoon Spec. S. D., Sask
549-_Toronto, Ont____613.-Vancouver, B. C_
88
5,000
4,000
20,000
7,000
20,000
1,700
205,000
20,000
——
472..New Glasgow, N. S_
613--North Bay, Ont. (7 issues)
Price.
100
;
20,000
1924
1933
,
613--Rosthern, Sask
-
•
6
5
5
,
_
Amount.
$2,000
45,000
1923
1.500.000
750,000
1914-1953
7 •
East, Que
.
1923
1943
613—Eldersley R. M., Sask
6A
684.-Grey County, Ont
684__Hantsport, N. S__
5
684-_Lambton County, Ont__.
5
613—Lucerne S. D, No. 2934, Alta— 8
613—Maisonneuve S. D., Que.
^
5A
684--Melville School District, Sask__ 6
613—Montreal
MUNICIPALITIES
Maturity.
7
—
1,100,000
1914-1943
60,000
1953
20,000
1948
4,506*500"
1923
25,000
1933
lOiOOO
2,000
-a
78,500
•
-
-
-
-
sold in August—
88
90
97.277
$10,051,106
100
ADDITIONAL SALES OF DEBENTURES FOR PERVIOUS MONTHS.'
100
Name.
Rate.
Canada, Dominion of (May, 17
issues) i__
,—__
471--Canada, Dom. of (June, 14 iss.) 7
613.-Canada, Dominion of (18 issues)
472--Jupo S. D. No.2884,Alta.(June) 6%
684—Stettler, Alta. (June).;—
5
549—Wildwood S. D. No. 2922, Alta.
100'
100""
105.244
100.071
100
Page.
100
65,000
50,000
42,988
100.147
17,000
100
90,025
100.01
214,900
110,000
4,000 2/100
100.1
5,000
100
84,000
100
14,400
97.75
69,000
100
1,800
100
5,000
101.456
55,000
100
75,000
100
3,500
100
1,500
100.342
40,000
100
35,000
100.44
20,100
100 *
5,000
Maturity:
Amount.
Price.
471
$39,400
21,400
100
25,850
1,400
14,800
100
1923
1923
1,200
100
1923
—
6A
(June)
4A
reasons
following additional sales for
Rate
464--Arboga School District, Cal
542--Bloomington Drainage Dis.,Tex
679--Blount County, Ala. (April)--.
607--Bonner Co. S. D. No. 18, Ida..
465-.Canonsburg S. D.,Pa
465--Cleveland, Ohio (June)
465--Cleveland, Ohio
543--Columbiana, Ohio (April)
465--Denver, Colo
;
543.-Eagle Point, Ore
465-_Eldora, Iowa (May. 2 issues)..
543--Fitchvillq Twp., Ohio (January)
466-_Fort Lee, N. J__-__
466--Jamestown, N. Y^ (May)
545-.Kansas (44 issues)
467--Lincoln County, Ida. (January)
467--Lorain,.Ohio (March)
545-_Maitland, Mo..
545-_Marysville School District, Pa_
545-_Moline, Kans. (May)
609--Nebraska (32 issues)
8,000
1916-1948
in which the
our paper
be found.
—-—
143,
-
61I-.Springville, N. Y__.
-
MONTHS.
our
Name of Municipality.
Amount.
607__Beardsley School District. Cal. (April list)
$20,000
607--Bear Mountain School District, Ca). (May list)
7,000
464__Buhl, Minn. (2 issues, May list).
100,000
543--Clarke County School District No. 58, Wash. (May list)-29,000
608--Hamilton, Ohio (May list)
100,000
544-_Ilion School District, N. Y. (January list)
95,000
609--Jamestown Union Free School District, N. Y. (July list)
109,000
545--Klamath Falls, Ore, (June list, 3 issues)
40,550
•
y
S.
number of the issue of
—
100
11,600
50,000
21,000
___
-.
page
for these eliminations may
468-_Niles, Ohio
610--Plummer Highway Dist4, Ida__
469--Ross County, Ohio (May)^
469-.Salt Creek Township, Ohio.
469—Saranac Lake, N. Y. (2 issues).
469--Sarasota, Fla
682—Sault Ste. Marie, Mich. (June).
469—Tacoma S. D. No. 10, Wash.
(May)
469—Thurston Co.S.D.No.lO.Wash.
■
'100
•
.
—
PREVIOUS
totals for previous
months, should be eliminated from the same.
We give the
—
97.50
100
100
429.000
.
Co.
FOR
-
100.57
32,924
6,000
40,318
.25,000
-
—
TOTALS
following items, included in
-
100.30
25.177
—
Wash—
The
'
.--
611--Spokane
_&$18,460,897
Average date of maturity,
d Subject to call in and after the earlier
year and mature in the later year,
k Not including $18,162,758 of tem¬
porary loans reported, and which do not belong in the list,
x Taken by
sinking fund as an investment,
y And other considerations.
We have also learned of the
60,000
102.54
21,000 .100
100
35,000
100
5,000
60,000
lOO"""
35,000
30,000
100
5,297
100
17,000
50,000 xlOO
—
100
previous months:
100
100
101.062
100.411
Page.
100
100
6
6
ol915
546.-Randolph County, Ind
610—Reading, Pa
610-.Red Bank S. D.vCal
682__Redding, Cal
5
""'"1933
546._Red Lake County, Minn------ 5A
01921
546—Ridgewood Twp. S. D., N. J__ 5
1924
610—Rio Bonito S. D., Cal
1915-1926
682--Rockingham Co., Nor. Caro.— 6
••
ol923
610—Running Water Dr. D., Ark— 6
1914-1923
546—Saginaw, Mich. (2issues).4'
(21914-1923
469--St. Johns, Ore. (2 issues)
6
469—St. Paul, Minn
4A
"""1918"
541—St. Paul, Minn
4A
1916
546--St. Paul, Minn
6
611—St. Paul, Minn—
":~i943~"
682—St."Paul, Minn. (2issues)
4A
1917
682..St.Paul,Minn. (2issues)_
6
1917 -•
682..St. Paul, Minn
L—
6,
1918
682..St. Paul, Minn—
6
1918-1929
546__Salem, N. Y_
434
1921
6<S2^_Salein, Ohio...
— -5.
682._San Diego, Cal
4lA
546—Sandusky, Ohio
4A "al9l9
682--San Francisco, Cal
5
611—Sault Ste. Marie, Mich
6
al922
611--Scotia, N. Y
5
al919
546__Scott County, Ind. (3 issues)— 4A
61 l-.Sioux City S. D., Iowa
4A
1920-1940
547—So. Bound Brook S. D., N. J— 5»
1914-1916
547—So. St. Paul, Minn
6
1943 •
683 —Spencer. Iowa (2.issues)_
5
395-.SpencerCounty, Ind
- - - - 43^
683.-Spokane Co. S. D* No. 1, Wash
•469—Spokane Co. S. D. No. 125,
6
d 1918-1933
Wash
—
100.17
975
4A
4A
394__Raccoon S. Twp., Ind_.__
394—Randolph County, Ind___-
100.482
101.333
a
REVISED
100""
104
75,000
136,000
14,300
3,300
30,000
11,000
38,7751
a!920
_
100
100
1938
4At
4A
5
4A
5
4
434
100
2,000
I
1923
6
4
5
682_.Quincy, Mass.
682.-Quincy, Mass.
100.678
1233,403
'
1933
ylb0"036
100.333
Total bond sales for August 1913
(372 municipali¬
ties covering 471 separate issues)
100
100.438
100
80,000
1,000
990,000
56,000
4,834
ol928
Y9T5-I9I9
100.156
70,000
3,000
5,000
75,000
110,000
34,235
20,985
1918-1923
-
Page.
1923
6
-
102.67"
Price.
$25,500
25,000
13,000
al920
__
100
10,500
-
xcvii.
Amount
Maturity.
W orthin gton Twp. S. D., Ohio. 6
549._Wytheville, Va
6
612--Yorlc County, So. Caro
4A
549--Youngstown, Ohio
5
612
Youngstown, Ohio (6 issues)
5
612-_Youngstown, Ohio (4 issues)
5
_
550,000 *100
100
8,000
101.43
60,000
<*1923-1933
Vv
100
25,000
1922
Name.
Rate.
470.-West Liberty, Ohio
5A
397.-White Plains (V.), N. Y. (2 iss.) 5
683_.White River Township, Ind
5
611--Winona County, Minn
5
Page.
611
100.625
300,000
5,000
35,000
1928-1931
1943
5
5
6
468-_Owatonna, Minn
682.-Pacific School District, Cal—_
546--Paris, Tenn-610--Pendleton, Ore-
468--Pittsburgh, Pa
546--Pittsburgh, Pa610.-Port Angeles, Wash
610--Portland, Ore
100
6
4A
.
609--Miller County, Mo.
609--Millville, N. J
467_ Minnesota
Price.
100.034
100
[Vol.
All the above sales
(except
as
indicated)
are
100
83.788
for July.
These additional July issues will make the total sales of
month $9,162,243.
debentures for that
News
Items.
J.—Voters Defeat Plan to Purchase Water
Plant.—The election held Sept. 2 resulted in the defeat of
the question of purchasing the plant of the New York & New
Jersey Water Co. for $2,279,505 (V. 97, p. 310).
The vote
is reported as 1,938 "for" to 2,730 "against."
•
Bayonne,
N.
Dallas, Tex.—Municipal Light Bonds Declared Defeated.—
On Aug. 29 a jury in Judge" Force's Court decided that the
election held in April resulted in the defeat of the:proposition
to issue $400,000 bonds for the construction of a municipal
rftv
...
vV
.
*
.VW1
.
.<
MJ
(
Sepi. « 1913.1
I
V. j
J,..'
■
■
•'(■'
-
THE
* *■
fliTix" A.
CHRONICLE
>»'1''
.
■
■
-
lighting system (V. 96, p. 1110)iv The result of the election,
which was declared to be in favor of the bonds, was contested
by J. B. Cranfill.
The jury verdict found that 1,043 votes
proven from the city's tax rolls were cast for the bonds and
1,148 votes against.
Of the votes proven by examination
of the voters summoned as witnesses in the case, 177 were
found to be for the bonds and 126 against the bonds, leaving
a total majority of 54 votes for the defeat of the bonds.
Mexico.—Notics
of Bond Payment.—Among the official
advertisements on a preceding page is a notice to the holders
of $10,000,000 4H% Monetary Commission of Mexico gold
fenbtes due Sept. 1 1913.
The principal and interest on the
same will be paid at the office of Speyer & Co. of N. Y.
San
Francisco, Cal.—-Hetch-Hetchy Water Bill Passes One
Branch of Congress.—See item below under "United States."
Springfield, Ohio.—Voters Approve New Charter.—By a
vote of 5,957 to 2,651, the citizens on Aug. 26 adopted a
"home rule" charter, providing for the election of five city
commissioners.
The commissioners appoint a manager,
who is the executive head of the city. Provision is also made,
it is said, for the initiative, referendum and recall, and also
for a strict control of public utilities, with the right of the
city to purchase them at their physical value.
Tennessee.—Special Session of Legislature.—Governor
Hooper on Aug. 29 issued a proclamation convening the Legis¬
lature in special session Sept. 8 at 2 p. m.
The call includes
for consideration over 100 local bills and upward of 50 gen¬
eral bills (V. 97, p. 607).
United States .-Hetch-Hetchy Water Bill Passes House
of
Representatives.—By a vote of 183 to 43 the House of Repre¬
sentatives on Sept. 3 passed the bill granting to the city of
San Francisco all of the rights in perpetuity to an extensive
tract of land in the Hetch-Hetchy Valley, a part of the
Yosemite Valley National Park.
The land is desired by the
city for use in connection with the proposed municipal water
system, for which $45,000,000 bonds were voted in Jan.
1909.
The bill now goes to the Senate.
St. Louis County,
Minn.—Water and Light
Bonds
Upheld.—The State Supreme Court on Aug. 29 decided
in favor of the city the suit to test the validity of the $450,000 water and light bonds sold in May (V. 96, p. 1649).
Bond Calls and Redemptions.
:
^
La.—Certificate Call.—The following public
improvement certificates will be paid at the office of the Com¬
missioner of Public Finance on Oct. 1 1913, with interest
to said
date:
Issue of 1912—Series
"A," Nos, 153;to 277 inclusive.
Issue of 1912—Series "B," Nos. 2 and 3.
Issue.of 1912—Series "C," Nos. 3 to 20 inclusive.
Issue of 1913—Series "A," Nos. 1 to 145 inclusive.
'
.
Issue of 1913—Series
"B," Nos. 1 to 10 inclusive.
Issue of 1913—Series "C," Nos.
The
^ to 35 inclusive.
official notice of this certificate call will be found among the advertise¬
ments elsewhere
in this Department:
(P.
O. Angleton),
Tex.—BONDS VOTED.—
a vote of 76 to 20.
This county recently voted in favor of the question of issuing $150,Oft
reported, by
No.
District
Road
BRIDGETON,
2
bonds.
Cumberland
County,
N.
J.—BOND OFFERING.—
Reports state that proposals will be received until 7 p. m. Sept. 16 by B. W.
Sharp, City Compt., for $15,000 4}i% 39-year sewer-impt. bonds.
Cert,
check for 1% required.
BROOKHAVEN COMMON SCHOOL DISTRICT NO. IS, Suffolk
County, N. Y.—BOND OFFERING.—Proposals will be received until
12 m. Sept. 15 by F. Springhorn, Clerk (P.O. Blue Point), for $9,90#
school bonds at not exceeding 53^ % interest.
Denom. (3) $500, (12) $700.
Due $500 yearly on Jan. I from 1915 to 1917, inclusive, and $700
yearly
on Jan.
1 from 1918 to 1929, inclusive.
Certified check for 10% of bW
required.
BRUNDIDGE, Pike County, Ala.—BOND OFFERING.—We
vised that this town will offer for sale in about 30 days
5% 20-year sewerage-system bonds.
tion held Aug. 26.
'
an
are
ad¬
issue of $20,00#
Auth. vote of 60 to 25
at
elec¬
an
.
BUFFALO, N. Y.—BOND SALES.—Durin^the months of August the
following five issues of bonds, aggregating $66,000, were purchased at par:
Amount.
Rate.
Purpose.
Date.
Due.
*$30,000-Public Health
4H Aug. 11913
July 1 1914
1,000-Certificate of Indebtedness
4
Aug. 1 1913
July 1 1914
5,000_Certificate of Indebtedness
4
Aug. 1 1913
July 1 1914
20,000_Park
4
Aug. 1 1913
Aug. 1 1963
10,000-Park
4
Aug. 1 1913
Aug. 1 1963
—
—
*
the
Sale of these bonds
previously reported in the "Chronicle".
All
bonds except the first issue were purchased by the Comptroller for the
was
various sinking funds.
BURNET
This
'
•
COUNTY
(P. O. Burnet), Tex.—BONDS PROPOSED.—
contemplating the issuance of $30,000 bridge bonds.
county is
BUTLER TOWNSHIP
(P. O. Peru), Miami
County,
Ind.—BOND
SALE.—On Aug. 30 the $10,000 4lA % school-house bonds (V. 97,
p. 464)
awarded bo the Citizens' Bank of Peru at par.
Denom. $1,000.
Int
J. & J.
were
CALCASIEU
PARISH
(P.
O.
Lake
Charles),
La.—BOND ELEC¬
TION.—The proposition to issue $900,000 road bonds
to a vote, it
is stated,
on
will be submitted
Oct. 16.
CAMDEN, Kershaw County, So. Caro.—BONDS NOT SOLD.—The
Secretary of the Board of Public Works advises us that up to Sept. 3 no
sale had yet been made of the two issues of 5% 20-40-year (opt.)
coupon
bonds, aggregating $125,000, being offered at private sale (V. 97, p. 390)
CARLISLE.
that
the
(V. 97,
p.
Warren County,
$30,000 city-hall-jail
311) have been sold.
Iowa.—BOND SALE.—We are advised
electric-light bonds voted recently
and
CARTERSVILLE, Bartow County, Ga.—BONDS VOTED.—By a
to 22 the proposition to issue $110,000 water-mains,, streetgrading and sewerage-system bonds carried, it is reported, at the recent
vote of 263
election.
.
'
CASS COUNTY (P. O. Linden), Tex.—BOND SALE.— On
Aug. 15
$35,000 5% 20-4O-year (opt.) bldg. bonds were awarded to the Cass
County
Commissioners' Court at par.
Denom. $875.
Date Apr. 1 1913.
Ihtt
annual.
*
CENTRE TOWNSHIP, Ind.—BOND SALE.—An issue of $40,000
4H %
8-year school bonds was awarded, it is stated, to J. F. Wild & Co. of In¬
dianapolis during August at 100.002.,' Denom. $500.
?
CHAMBERS
New Orleans,
COUNTY
BRAZORIA
The question of issuing the $75,000 Velasco road district bonds (V. 97,
i.
390) carried, it is stated, at the election held Aug. 30, not Aug. 28, as first
'
Virginia,
679
,
»h?
COUNTY
VOTED.—A favorable vote
ROAD
DISTRICT
cast
was
at the
NO.
Tex.—BONDS
4,
election recently held on the
tate Comptroller
Ereposition to issueon Aug. 8 5% 10-40-year road bonds registered by the
$100,000 (V., 97, p. 542).
>
CHEMUNG COUNTY (P. O. Elmira), N. Y.—BOND SALE.—The
Elmira Savings Bank has purchased at par the $20,000 4H% 5-year (aver.)
coup, bonds offered July 31 (V. 97, p. 311).
CHEWELAH, Stevens County, Wash.—BOND OFFERING .—Pro¬
posals will be received until 7 p. m. Sept. 10 by J. U. Conwell, City Clerk,
for the following 6% coupon bonds:
$6,200 funding bonds.
Denom. (1) $200, (12) $500.
Due in 20 years,
subject to call after 10 years.
<
»■
4,000 bridge-constr. bonds.
Denom. $500.
Due in 10 years, subject to
•
call after 5 years.
Date Sept. 1913.
Int. M. & S. at Chewelah
Cert, check for 2%, pay¬
able to City Clerk, required.
Official circular states that there is no litiga¬
tion pending affecting this issue and none threatened, and that the
city has
never defaulted in the
payment of principal or interest on any indebtedness.
Bonded debt (incl. this issue), $17,200.
Assess, val. 1912 $239,037.
,
;
.
Bond Proposals
have been as
apd Negotiations this week
X
"
t
follows;
.
«.
ARCHER CITY, Archer County,
.
able vote
was
Tex.—BONDS VOTED.—A favor¬
cast at a recent elottion on the
water-works bonds.
proposition to issue $7,000
ax roiiij V
.
'
ASHLAND COUNTY (P. O.(Ashland), Ohio.—BOND OFFERING.—
Proposals will be received until, l&m. Sept. 26 by the Board of CountyCommissioners, Lotta Westover, Clerk, for $54,000 5H% emergency
county bridge bonds.
Denom.. $li,000.
Date Oct. 1 1913.
Int. A. & O.
Due $3,OO0 each six months from,.April 15 1915 to Oct. 1 1923, inclusive.
Bonds to be delivered and paid' for within 10 days from day of award.
Certified check or draft for S50Q* payable at sight to J. F. Welty, County
Auditor, required.
Purchaser to pay accrued interest.
.«•
County, N. Y
BABYLON, Suffolk
issue of $20,000 State road bonds
Pabylon at
par
was
—BOND SALE.—On Aug. 26
an
awarded, it is stated, to the Bank of
Denom. $2,000.
for 5s.
V BENSON, Douglas County, Neb.—BONDS DEFEATED.—We are
advised that the proposition to issue the $44,500 sewer bonds (V. 97, p. 542)
failed to carry at the election held Aug. 19 (not Aug. 26, as first reported),
the vote being a tie, (158 to 158).
'
BERLIN, Coos County, N. H.—BOND SALE.—The $150,000 4H%.
1-10-year (ser.) coup, public-impt. bonds (V. 97, p. 542) were awarded to
E. H. Rollins & Son? ofBoston at 101.079—a basis of 4.27%.
N. W. Harris
& Co., Inc., of Boston bid 100.267 and Blodget & Co., Boston, 100.60.
BISHOP,
Nueces
Tex.—BONDS VOTED^—'The election
held Aug. 29 resulted, reports state, in favor of the questions of issuing
$23,000 sewer-system-purchase and $14,000 road-constr. and street-impt.
bonds (V. 97, p. 390).
The vote was 53 to 28 and 65 to 19, respectively.
County,
BLOUNTSCOUNTY (P. O. Oneonta), Ala.—BOND SALE.—We have
Just been advised that the $150,000 5% 30-year road bonds voted Apr. 3
(V. 96, p. 1170) were awarded on Apr. 4 to Steiner Bros, of Birmingham
at par.
Denom. $1,000.
Date Aug. 24 1913.
Int. J. & J.
BOONE COUNTY '(P. O.
Lebanon),
Ind.—BOND SALE.—J. F. Wild
gtfavel(V. 97,
& Co. of Indianapolis have
purchased at par and int. $3,920 4J^%
road bonds, being the unsold
portion of $11,920 offered on July 10
p.
390).
BOONVILLE, Cooper County, Mo.—BONDS VOTED.—According to
reports the proposition to issue $25,000 street-impt. bonds carried at the
election held Aug. 25.
BOONVILLE,
Oneida
Capron of Boonville at
BOSTON,
N. Y.—BOND SALE.—On Sept. 1
(V. 97, p. 542) were awarded to B. A.
County,
the $9,000 reg. water-works bonds
for 5s.
par
Mass.—TEMPORARY LOAN.—During August this city
borrowed $1,500,000 at 4M % int.
iyio•
Loan is dated Aug. 15 and due Nov. 3
i
BOSTON
BOND
.TOWNSHIP (P. o. Saranac), Ionia County, Mich.—
SALE.—Local investors have purchased at mar the $16,000 5%
success on July 28 (V. 9T, p. 311).
bridge bonds offered without
BRANCH HILL SPECIAL SCHOOL DISTRICT (P. O.
Clermont County, Ohio.—BOND
CHICAGO, 111.—BOND SALE.—On Aug, 2i the city turned over to
tbe Chicago Dock & Canal Co. at par $300,000 4% harbor bonds in payment
along the lake shore between East Indiana and East Ohio streets
Denom. $1,000.
Date July 1 1912.
Int. J. & J.' Due $250,000 Jan. 1
for land
1915 and $50,000 Jan.
1
1916.
.
,
CHILDRESS, Childress County, Tex.—BONDS DEFEATED—'The
question of issuing $15,000 street and
election.
■
"
•
sewer
bonds
'
-
was
defeated at
a
recent
,
CINCINNATI, Ohio.—BOND OFFERING .—Proposals will be received
m. Sept. 29 by I. D. Washburn,
City Auditor, for $100,000 4}4 %
25-year house of refuge bonds.
Auth. Sec. 3939, Gen. Code'.
Denom.
$500.
Date Feb. 1 1913.
Int. F« & A.
Certified check for 5% of bonds
bid for, payable to
City Auditor, required. Bids must be made on forms
furnished by the City Auditor.
Purchaser to pay accrued interest.
until 12
CLAYTON,
Jefferson County, N.
$7,800 read bonds
were awarded
First National Bank of
Date Aug.
CLOVIS,
26 1913.
par and
Interest annual.
Fresno County,
issues of 5% bonds, aggregating
Y.—BOND SALE.—On Aug. 26
Exchange Bank and the
interest for 5s.
Denom. $100.
Due $600 yearly for 13 years.
to the National
Clayton at
Cal.—BOND SALE.—On Aug. 4 the.two
$49,000, offered without success on May 26
(V. 97, p. 252), werq awarded, to the Capital National Bank of Sacramento
at par.
"
'
,
COLUMBIA, Maury County,
Tenn.—BOND ELECTION.—An elec¬
a vote the question of issuing
$100,000
20-year water-works-purchase and improvement bonds.
tion will be held Sept. 11 to submit to
5%
COLUMBIA
TOWNSHIP,
Dubois
County, Ind.—BOND
SALE.—
On Aug. 29 the $6,000 4H % 5H-yr. (av.) school-bldg. bonds (V. 97, p. 465)
were awarded to J. F. Wild & Co. of Indianapolis at 100.05 and int.
Th«
Dubois Co. State Bank and the Fletcher-American Nat. Bank each bid
par.
COLUMBIANA COUNTY (P. O. Lisbon), Ohio.—BOND OFFERING,
—Proposals will be received until 1p.m. Sept. 8 by the County Commis¬
sioners, P. R. Walker, Comm. Clerk, for the following bonds:
$8,436 29 5H% refunding bonds.
Denom. $43fr29 and $500.
Due ona
bond
8,000 00 Children's
yearly
on
Spet. 1 from 1914 to 1930 inclusive.
Home
(county's portion)
Due $500 yearly on Sept. 1.
bonds.
Denom.
$500.
Date Sept. 1 1913.
Int. M. & S. at office of County Treas.
Cert,
on a local bank other than the one making the bid, for $300,
payable
check
to County Treas., required.
Bids must be unconditional.
delivered and paid for on Sept. 16 at County Treasury.
COLUMBUS
Bonds
CITY SCHOOL DISTRICT (P. O. Columbus),
—BOND SALE.—On Sept. 2 the $80,000 5% 10-yr. coup,
to be
Ohio.
school-property-
impt. bonds (V. 97, p. 643) were awarded to Seasongood & Mayer of Cin¬
cinnati for $81,287, equal to 101.608.
Other bidders were:
Hayden, Miller & Co., Cle$81,121 001 Fifth-Third Nat. Bk., Cm$80,766 00
New First Nat. Bk., Col- 80,880 90(Otis& Co., Cleveland.;
80,612 00
Weil, Roth & Co., Cin— 80,848 001 Parson, Son & Co., Chic_ 80,200 00
Ohio Nat. Bank, Colum__ 80,801 501
Branch Hill),
will be re¬
of Ed., for $17,bldg. bonds.
Auth. Sec. 7626, Gen. Code.
Denom. (32) $500, (1) $1,000.
Date Sept. 13 1913.
Int. M. <fe S.
Due
$500 yearly Jan. 1 from 1915 to 1946 incl. and $1,000 Jan. 1 1947.
Bonds
to be delivered and paid for within 10
days of time bf award.
Cert, bank
check for 5% of bonds bid for,
payable to the Clerk Bd. of Ed., required.
CROSBY COUNTY (P. O. Crosbyton), Tex.—BOND OFFERING.—
Proposals will be received by P. L. Parrish, County Judge, for an issue of
$40,000 5% lQ-40-year (opt.) court-house and jail bonds.
These bonda
have been approved by the State Attorney General.
Purchaser to pay accrued int. and furnish blank bonds at his own expense.
These bonds were offered without success as 5s on
Aug. 16 (V. 97, p. 542).
Mills & Co. of Chicago at par and int.
OFFERING.—Proposals
ceived until 12 m. Sept. 13
by W. J. Thompson, Clerk Bd.
000 6% site-purchase and
-l*f?
j*
"
.
'
DALLES
CITY,
Ore.—BOND
SALE.—On Aug.
20-year gold street-paving bonds (V."97,
p.
311)
There
25
the $12,000
5%
were awarded to Chapman.
other bidders.
were no
680
THE
DARKE COUNTY (P. O.
Greenville), Ohio.—
Proposals will be received until 10 a. m. Sept. 25 (date
18)Iby J. L. Morgan, County Auditor,
CHRONICLE
500VvP^te
?bonds (V. 97, p. 608). Auth. Sees. 5656 to 5658 incl. Gen. Code. Denom.
18 1913^t. P. & A. at office of County Treasurer.
>ue $10,000 Aug. 18 1915 and
$50,000 Aug. 18 1918.
A deposit of $100
an unconditional certified check
on a Darke
County bank, payable to
Board of Commissioners, required.
Bids must be unconditional.
or
DEL PASO HEIGHTS SCHOOL
^
DISTRICT, Sacramento County,
Cal.-—BOND SALE.—Reports state that the
State Board of Control has
purchased the $12,000 5% bldg. bonds offered without success on
Aug. 4
IV. 97, p. 465.)
^DEMOPOLIS SCHOOL DISTRICT
(P. O. Demopolis). Marengo
County, Ala.—BOND SALE.—On Aug. 28 the $20,000 6% 10-year bldg.
bonds voted Aug. 4 (V. 97, p. 465) were awarded to the Selma Nationa
Bank of Selma at par.
Denom. $1,000. - Date Aug. 28 1913.
Int. P. & Al
DERRY,
County,
N. H.—BONDS NOT SOLD.—No
sale has been made of the $110,000
refunding bonds offered on Aug. 1
(Y. 97, p. 190).
Y
"
'
•
Mich.—BONDS OFFERED
OVER
COUNTER.—1The City
Comptroller and Treasurer
are advertising in local papers of Aug. 31 the
at par 4% tax-exempt permanent-improvement
offering over the counter
bonds, in denominations of $1,000 each.
The city offered at public sale on
Aug. 19 $100,000 public-library and
$18,000 park and boulevard 4% 30-year bonds.
We are unable to learn
the results of this sale.
ESCONDIDO, San Diego County,
Cal.—BOND OFFERING.—Pro¬
posals will be received until 8 p. m. Sept. 16 by W. N. Bradbury, Pres.
Board of Trustees, for the $110,000 5%
municipal-impt. bonds voted
June 28 (V. 97, p. 391).
Denom. (90) $1,000, (30) $333 33, (40) $250.
Date July 1 1913.
Iht. J. & J. at office of City Treas. or at Nat. City
Bank, N. Y. C.
Due $3,583 33 yearly on July 1.
Cert, check on a San
Diego County Nat. Bank for 2% of bonds bid for, payable to City Treas.,
required.
The legality of this issue will be approved
by Dillon, Thompson
A: Clay of N. Y., whose
opinion will be furnished successful bidder or bid¬
ders.
.
(P. O. Newark), N. J .—BOND OFFERING.—Pro¬
posals will be received until 11
A. W.
a.
Sept. 11 by the Finance Committee,
m.
Harrison, Chairman, for the $150,000 4)4% 40-yr. gold plank-road
Denom. $1,000.
Date Aug. 1 1913.
Int. F. & A.
bonds. (V. 97, p. 608.),
Cert, check for 1%
of bid required.
chaser to pay accrued interest.
the U.
S.
Bids must
delivery
on
893 27.
Assess, val. 1913 $606,567,159.
as
Pur¬
to genuineness by
Bonds will be ready for
Total indebtedness, including this
The official notice of this bond
ments elsewhere in this
be unconditional.
Bonds will be certified
Mortgage & Trust Co., New York.
Sept. 18.
issue, $14,121,
GLEN ARBOR TOWNSHIP (P. O. Glen
Arbor), Leelanau County,
Mich.—BOND ELECTION.—Reports state that an election will be
held
Sept. 8 to submit to a vote the question of issuing $5,500 trunk-line impt ,
bonds.
local-impt. bonds (Y. 97,
interest.
among
the advertise¬
BONDS AUTHORIZED.—On
Aug. 28 the Board of Freeholders author¬
ized the Issuance of $117,000 434 % road bonds, it is stated.
Emmet
County,
EXIRA INDEPENDENT SCHOOL DISTRICT
(P. O. Exira), Audu¬
bon County, Iowa:—BONDS VOTED.—By a vote of 201 to 11 the
qu&stion of issuing the $28,000 5% bldg. bonds carried at the election held
Sept. 1 (V. 97, p. 608),
,
FAIR OAKS SCHOOL DISTRICT, Sacramento
County, Cal.—
BOND SALE.—An issue of $3,500
5% building bonds has been purchased by
the State Board of Control, reports state.
These bonds were offered
without success on Aug. 4.
V. 97, p. 466.
FARGO. Cass County, No. Dak.—BOND SALE.—The $30,000
6%
1-15-year (serial) paving bonds offered without success on July 9 (V. 97,
312) have been sold at par to the Northern Safings Bank, I. P. Clapp
and the Ancient Order of United Workmen of
Fargo.
p.
(P. O. West Farmington), Trumbull
County, Ohio.—BOND SALE.—Spitzer, Rorick & Co. of Toledo have
purchased at private sale the $25,000 5% road-improvement bonds offered
without success on July 19 (V. 97, p. 312).
FOLEY SCHOOL DISTRICT (P. O. Foley), Benton
County, Minn.
—BONDS VOTED.—An election held Aug. 11 resulted in favor of the
ques¬
tion of issuing $20,577 4% bldg. bonds.
The vote was 86 to 34.
Thebonds
have been offered to the State.
FRANKLIN COUNTY (P. O. Columbus), Ohio.—BOND OFFERING*
—Proposals will be received until 10 a. m. Sept. 17 by the Board of County
Commrs., J. Scott, Clerk, for $6,000 5%. Watterman Road improvement
bonds.
Denom. $500.
Date Sept. 1 1913.
Int. M. & S. at County
Treasury.
Due $3,000 on Sept. 1 1917 and 1918.
Certified check (or
cash) on a national bank or trust company in Franklin County for 1
% of
bonds bid for, payable to Board of County
Commissioners, required.
BOND SALE.—On Sept. 4 the $62,000 (2 issues) 5%
4-year (av.) road
bonds (V. 97, p. 466) were awarded, it is stated, to the Ohio National
100.5.
at
FRANKLIN COUNTY SCHOOL DISTRICT NO. 48 (P. O.
Benton),
111,—BOND ELECTION.—We are advised by H. C. Speer & Soris Co. of
Chicago that they have a contract to purchase an issue of $25,000
6%
building bonds to be voted on Sept. 13.
•
.
FREMONT
COUNTY
SALE.—The $3,000
(V. 97,
p.
391)
FULTON,
were
SCHOOL DISTRICT NO. 12, Wyo.—BOND
6% 10-year coupon school bonds offered on Aug. 9
awarded to J. L. Baird of Cheyenne at 100.9.
Oswego
County, N. Y.—BONDS NOT SOLD.—No bids
received on Sept. 2 for the $50,866 23 23-yr. (av.)
paving bonds at
exceeding 4)1% int. offered on that day (V. 97, p. 544). *
were
not
GALENA,
Daviess
Jo
County,
111.—BONDS
DEFEATED.—'The
question of issuing $15,000 city market-house-repair bonds failed to
carry,
-it is stated, at an election held
Sept. 2.
GALION, Crawford County, Ohio.—BOND OFFERING.—Proposals
will be received until 12 m. Sept. 29 by J. F. Hogan,
City. Aud., for the
following 5% assess, bonds:
$3,500 Union, Boston, Grand St. storm-water sewer-constr. bonds.
Due
$1,000 Sept. 1 1917 and 1918 and $1,500 Sept. 1.1919.
6,000 Payne Ave. impt. bonds due $1,000 yearly on Sept. 1 from 1917 to
,
1922 incl
were awarded to
local investors at par and
aJT
'
Bonded
Assessed
valuation 1913, $1,300,000.
GRAND
RAPIDS, Kent County, Mich.—BOND SALE.—On Sept. 2
$225,000 4)4% 20-yr. coup, tax-free water-works-refunding bonds
(V. 97, p. 544) were awarded to the Old Nat. Bank of Grand Rapids at
100.099.
COUNTY (P. O. Marion), Ind.—BONDS AWARDED IN
the remaining eight issues of 4)4%
tax-free highway-impt.
aggregating $57,200 (unsold portion of $63,400) (V. 97, p. 391),
$5,300 has been sold to W. S. Yates at par and interest.
GRANT
PART.—Of
bonds,
GULLY SCHOOL DISTRICT
N0.257, Minn.—BONDS VOTED.—The
bldg. and equip, bonds was authorized by a vote of
Due $200 yearly beginning July 1 1919.
It is expected
that these bonds will be taken by the State.
issuance of $3,000 4%
20 to 2
on
Aug. 19.
HADDONFIELD,
Camden County,
N. J.—BOND SALE.—The
$60,000 5% 30-year street-improvement bonds offered without success
July 28 (V. 97, p. 312) have been sold to local bidders at par.
on
HAMILTON, Butler County. Ohio.—BONDS AWARDED IN PART.
—On Sept. 2 the Sec. of the Sinking Fund Trustees disposed of
$7,500 of
an issue of $20,000 5% gas bonds, it is reported.
*
HAMTRAMCK, Wayne County, Mich.—BOND SALE.—The Village
us that the $40,000 water-works bonds voted
July 21 (V. 97,
253) have been sold.
Clerk advises
p.
HAMTRAMCK TOWNSHIP SCHOOL DISTRICT NO.
3, Wayne
County, Mich.—BOND SALE.—On Aug. 25 the $18,000 5% 15-yr. bldg.
bonds (V. 97, p. 544) were awarded to J. J. McLeon of Detroit.
Bids
were
also received from C. H. Coffin of Chicago and G. M. West.
BOND
TOWNSHIP
SALE.—On
(P. O. Quincy), Owen County, Ind.—
Aug. 30 the $1,000 5)4% school-bldg. bonds (V. 97,
6 ate Aug. 30 1913. to R. ann.Muggof QuincyDue101.25.15 Denom. Other
466) were awarded Int. M. on Dec. 15. at Dec.
$250.
1917.
bidders
were:
J. M. Johnson
101,2|D. M. Spangler...
—
HETJPSTEAD, Nassau County, N.
..100.5
,
Y.—BOND SALE.—On Sept. 2
(V. 97, p. 608) were
the $18,000 7-year (av.) water-improvement bonds
awarded to the First National Bank of
Hempstead
as
4)4s.
HEMPSTEAD (TOWN)
COMMON SCHOOL DISTRICT NO. 28
(P. O. Long Beach), Nassau County, N. Y.—BOND SALE.—On Aug. 30
the $65,000 school bonds (V. 97, p. 544) were awarded to Spitzer, Rorick
& Co. of N. Y. at 100.08, accrued iht. and blanks for bonds
bearing 5H%
int.
Due $5,000 yearly April 1 from 1919 to 1931 incl.
HICKMAN COUNTY (P. O. Centreville), Tenn.—BOND OFFER¬
ING.— Proposals will be received until Sept. 20 by A. F. Aydelott,
County
Judge, for $17,500 5% coupon bridge bonds.
Date Oct. 1 1913.
Interest
semi-annually at place to be agreed upon. Due$4,000 in 5, 10 and 15 years,
and $5,500 in 20 years.
These bonds were offered without success on
July 25 (V. 97, p. 466).
HIGHLAND
'
;
.
PARK, Lake County,
/ ;
111 —BONDS VOTED.—Reports
state that
the question of issuing $24,000 public improvement bohds car¬
ried at the election held Aug. 28 by a vote of 257 to 28.
HOLDEN SCHOOL DISTRICT (P. O. Holden), Johnson
County,
are advised that the $13,000 5%
5-20-yr. (opt.)
impt. bonds.(V. 97, p. 392) have been disposed of.
Mo.—BOND SALE—We
HOLLAND, Ottawa Couhty, Mich.—BOND SALE.—On Aug. 1 the
$10,000 5% drainage bonds (V. 97, p. 312) were awarded to W. E. Moss &
Co. of Detroit.
HUMBOLDT,
*
Richardson
County,
Neb.—BOND
OFFERING.—
Proposals will be received until 6 p. m. Sept. 9 by W. G. Lydick, City
Clerk, for the $12,000 6% 10-20-year (opt.) water-extension bonds voted
July 10 (V. 97, p. 253).
Denom. $500.
Date Sept. 1 1913.
Interest
Certified check for $500, payable to City Treasurer, required.
annual.
The city reserves the right to withhold from sale four (4) bonds.
INDEPENDENCE TOWNSHIP (P. O. Independence), Cuyahoga
County, Ohio.—BOND OFFERING .-'-Proposals will be received until
1 p. m. Oct. 4 by E. J. Troyan, Twp. Clerk, for $7,000 5% coupon highway
impt. bonds.
Denom. $1,000. Date Oct. 1 1913.
Int. A. & O. at Guar¬
dian Savings & Trust Co., Cleveland.
Due $1,000 yearly on Oct. 1 from
1915 to 1921, inclusive.
An unconditional certified check on a bank
other than the one making the bid for 10% of bonds bid for, payable td
Twp. Treas., required.
Bonds to be delivered and paid for within 10 days
from time of award.
Purchaser to pay accrued interest.
ITASCA COUNTY (P. O. Grand Rapid3), Minn.—BOiVD OFFERING.
—Proposals will be received until 10a.m. Sept. 11 by M. A. Spang, County
Aud., for the $300,000 4)4% coup, road and bridge bonds voted Aug. 19
(V. 97, p. 609).
Denom. $1,000.
Date July 1 1913 or such date as pur¬
chaser may elect.
Int. ann.
Due $20,000 yearly on July 1 from 1918 to
1932 incl.
JEFFERSON
COUNTY (P.
O. Steubenvills),
Ohio.:—BOND SALE.
—The $120,000 5% coup. Irondale aud Yellow Creek Free Turnpike road
bonds offered on Aug. 30 (V. 97, p. 392) have been awarded, it is stated,
to the Merchants' & Mechanics' Bank of Smithfield for $121,311 10, equal
to
101.092.
JEROME TOWNSHIP
(P. O. Sanford), Midland County, Mich.—
SALE.—On Sept. 1 the $6,000 5% 7)4-year (average) highwayimprovement "bonds (v. 97, p. 544) were awarded to Bolger, Mosser &
Willaman of Chicago at par.
BOND
.
17,500 Cherry St. impt. bonds.. Due $2,000 yearly on Sept, 1 from 1916
to 1922 incl. and $3,600 on Sept. 1 1923
22,500 Tenth Dist. sanitary sewer bonds.
Due $4,500 yearly on Sept. 1
from 1917 to 1921 incl.
Auth. Sec. 3914, Gen. Code.
Denom. $500.
Date Sept. 1 1913.
Int.
Cert, check for $500, payable to City Treas., required.
Bonds
to be delivered and paid for within 10 days from time of award.
M. & S.
Purchaser
to pay
608)
p.
•
6% 20-year
gold coup, taxable liquidating dist. expense bonds.
Denom. $500.
Date
Sept. 8 1913.
Int. ann. on Sept. 8 at office of County Treasurer.
Certi¬
FARMINGTON TOWNSHIP
Columbus
-
fied check for $100,
payable to Board of Supervisors, required.
debt Aug. 30 (not incl. this issue), $4,000.
No floating debt.
Iowa.—BONDS
VOTED.—The
question of issuing city-hall and fire-house-construction bonds carried,
reports state, at the election held Aug. 19 by a vote of 193 to 40.
of
s
.
GRAHAM COUNTY SCHOOL DISTRICT NO.
5, Ariz.—BOND OF¬
FERING.—Proposals will be received until 2 p. m. Sept. 8 by B. Blake,
Clerk of Board of Supervisors (P. O. Solomonville), for
$2,000
*
offering will be found
*•
Bank
,
GLOVERSVILLE, Fulton County, N.;Y.—.BONDS AWARDED IN
PART —On Sept. 2 $2,750 of the $19,500 (unsold
portion of $50,000) 434 %
HARRISON
Department.
ESTHERVILLE,
GIBSON COUNTY (P. O.
Princeton), Ind.—BOND OFFERING.—
According to local newspaper reports, proposals will be received until
10 a. m. Sept. 11 by M. Cushman,
County Treasurer, for $4,000, $5,600,
$9,000 and $5,000 4)4 % 10-year highway-improvement bonds.
the
EAST GRAND RAPIDS (P. O. Grand
Rapids), Kent County, Mich.
—BOND OFFERING.—Proposals will be received until
Sept. 15 by J. C.
Laraway, Vil. Clerk, for the $25,000 5% 20-year water-works bonds voted
July 24 (V. 97, p. 311).
Int. semi-ann.
Cert, check for 1% of bid, paya¬
ble to Vil. Clerk, required.
ESSEX COUNTY
COUNTY SCHOOL DISTRICT NO. 26
(Miami), Ariz.—
SALE.—On Aug. 5 $10,000 6% 10-20-year (opt.) school bonds
BOND
dated Aug. 1 1913 were awarded to the Gila Valley Bank & Trust Co. of
Globe at 100.50.
Denom. $1,000.
Interest annual.
,
Rockingham
DETROIT,
xcvii.
GILA
OFFERING.—
changed from Sept.
refunding road
for $60,000 5%
[Vol.
accrued interest.
KALAMA, Cowlitz County, Wash.—BOND OFFERINGS.—Proposals
Sept. 9 by E. W. Potter, Town Treas., for
(opt.) gold coup, general municipal bonds.
Int.
will be received until 7:30 p.m.
$6,000 6% 15-20-yr.
semi-annual.
.
^
™
~
Proposals will also be received until 7:30 p. m. Sept. 17 by E. W. Potter,
$5,294 45 coup, funding bonds at not exceeding 7% int.
Denom. (10) $500, (1) $294 45.
Date Aug. 1 1913.
Int. F. & A. at fiscal
agency of State of Wash, in N. Y. C.
Due Aug. I 1933, subject to call
any int.-paying day after Aug. 1 1928.
Town Treas., for
GALVESTON
SEA-WALL
COUNTY
BONDS
(P.
O.
Galveston), Tex.—ELECTION
RESCINDED.—As
previously
stated,
an
ON
election
to be held Sept. 26 to vote on the propositions to issue $300,000
Gal¬
veston sea-wall-ext. and $250,000 road 5% 40-yr. bonds.
The Co. Com¬
was
missioners have since rescinded their order for
a
vote
on
the sea-wall bond'?
GARFIELD, N. J.—BOND SALE.—John D. Everitt & Co. of New York
have purchased at par and accrued int. the $85,000 5%
30-year coup, water
bonds offered without
success on
Aug. 1 (V. 97,
p.
391).
GARY, Lake County, Ind.—BOND SALE.—On Aug. 29 $50,000 6%
20-year park bonds were awarded to the Fletcher American Nat. Bank of
Indianapolis at 100.12.
Denom. $1,000.
Date Aug. 29 1913.
Int.
J. & D.
Bids of par were received from the E. M. Campbell & Sons Co. of
Indianapolis and Bolger, Mosser & Willaman of Chicago.
^GETTYSBURG, Darke County, Ohio.—BOND SALE.—On Sept. 1
the $5,000
6%
6)4-yr.
p. 60S) were awarded,
at 101.8.
(av.) coup, street and sewer-inpt. bonds (V. 97,
it is stated, to Hayden, Miller & Co. of Cleveland
.
.
7
'
KANSAS CITY, Mo.-CERTIFICATE OFFERING.—Proposals will be
received until 2 p. m. Sept. 16 by E. J. McDonnell, Secy. Board of Public
Works, for $75,421 95 6% coupon Twelfth St. condemnation fund certifi¬
cates, Series 1.
Denom. (75) $1,000, (1) $421 95.
Date June 15 1913.
Int. J. & J. at office of City Treasurer.
Due one-twentieth yearly on
June 30 from 1914 to 1933, inclusive.
Certified check or draft for $2,000,
payable to M. A. Flynn, City Comp., required.
Purchaser to
pay
accrued
interest.
Reports state that proposals will be received until 2 p. m. Sept. 15 bv
T. C. Harrington, Secretary of Park Commission, for $77,240 6% 1-10-year
(ser.) park bonds.
Certified check for $2,500 required.
•
LAKE CITY, Columbia Cotinty, Fla.—BONDS VOTED.—According
to reports, a favorable vote was cast at the election held Aug. 26 on the
propositions to issue $43,200 funding, $3,000 water and light refunding,
$9,800 city-hall-oonstruction and $23,000 refunding bonds.
"
,
Sept. 6 1913.]
681
CHRONICLE
THE
LAKE COUNTY (P, O. Crown Point), Ind.—BOND OFFERING.—
Proposals will be received until 10 a. m. Sept. 8 by A. J. Swanson, County
Treasurer, for the following 4H % gravel-road bonds:
L. H. Weis road bonds,
Denomination $600/
S. Koplin road bonds.
Denomination $500.
A. W. Carnduff road bonds.
Denomination $540.
F. R. Mass No. 2 road bonds.
Denomination $540.
5,200 A. D. Palmer road bonds.
Denomination $260.
7,600 E. Lenz road bonds.
Denomination $380.
8,000 H. P. Hall road bonds.-*J Denomination $400
22,400 F. R. Mass No. 1 road bonds.
Denomination $560.
6,800 W. Driscoll road bonds.
Denomination $340.
37,600 G. B. Sheerer road bonds.
Denomination $940.
4,400 A. J. Dreesen road bonds*
Denomination $220.
Int. M. & N.
Due one-twentieth each six months from May 15 1914 to
Nov. 15 1923 inclusive,
.
•
924,000
20,000
10,800
21,600
*
LAKEWOOD, Cuyahoga County, Ohio.—BOND SALE.—The $4,500
5% 2 1-6-year (av.) Robinwood Ave. (assess.) bonds offered without suc¬
Aug. 4 (V. 97, p. 392) have been sold to the Lakewood State Bank
SCHOOL BONDS.
Amount.
Name of District—
I
SCHOOL BONDS (Concluded).
Amount.
Name of District—
Chisago Co. Cons. Dist. No. 1__$12,000 Polk Co. Ind. Dist. No. 283
Clearwater Co. Dist. No. 21..—
4,000 Pope Co. Consol. Dist. No. 1
Dist. No. 51 62,000
Dakota Co. Dist. No. 15
1,500
Faribault Co. Dist. No. 68
1,800
Goodhue Co. Dist. No. 79:
2,000
Kittson Co. Dist. No. 28
600
Koochiching Co. Ind, Dist. No. 4 21,000
Lac qui Parle Co. Dist. No. 46__
2,400
Little Falls Ind. S. Dist
50,000
Marshall Co. Dist. No. 148
1,200
Martin County Dist. No. 70
1,500
Meeker Co. Dist. No. 39
1,800
Meeker Co. Dist. No. 59
2,700
Mower Co. Ind. Dist. No. 27_—
6,000
Polk Co. Ind, Dist. No. 142
8,000
Crow Wing Co. Ind.
-
----
-
$1,500
Red Lake Co. Ind. Dist. No. 15..
Rice Co. Dist. No. 1
St. Louis Park Ind. Dist..
Wadena Co. Dist. No. 21
1,500
Watonwan Co. Dist. No. 55
2,500
.
DITCH BONDS.
Cottonwood
Swift
County
County
7,875
20,480
MUNICIPAL BONDS.
Gilchrist Twp., Pope County—
Gregory Twp., Mahnomen Co__
Holyoke (T.), Carlton County__
Newport (VII.), Washington Co_
500 Taylor's Falls (V.). Chisago Co._
Polk Co. Ind. Dist. No. 260
2,000
16,900
7,000
15,000
1,000
2,000
3,000
1,200
11,000
cess on
at jpar.
MORGAN PARK HIGH SCHOOL DISTRICT
(P. O. Morgan Park),
BONDS WITHDRAWN FROM MARKET.—1The other three issues of
5% paving (assess.) bonds, aggregating $20,670, also offered without suc¬
cess on Aug. 4 (V. 97, p. 392), have been withdrawn from the market.
Cook County, 111.—PRICE PAID FOR BONDS.—The price paid for the
$45,000 5% high-school-bldg. bonds purchased by the Merchants' Loan &
Trust Co. of Chicago (V. 97, p. 393) was 100.17.
LAWRENCE, Douglas County, Kan.—INTO BONDS VOTED.—We
advised by the City Clerk under date of Sept. 2 that the issuance of
$200,000 bridge bonds was not authorized at a recent election, as reported
in V. 97, p. 313, but that the county voted to build a bridge, the money to
be raised by direct taxation.
MT. CARMEL, Franklin County, Ind.—BOND SALE.—Reports state
that during August the Continental & Commercial Trust Co. of Chicago was
awarded an issue of $6,000 4)4 % 10K-yr. school bonds at 97.75.
are
MT. KISCO,
Westchester County, N. Y.—CERTIFICATE SALE.—
.
Mass.—LOAN OFFERING.—Proposals
will be received until 11 a. m. Sept. 9, it is stated, for a loan of $100,000
dated Sept. 10 1913 and maturing April 8 1914.
LIVE OAK SCHOOL DISTRICT, Santa Crux County, Cal.—BONDS
VOTED.—By a vote of 124 to 40 the proposition to issue $5,000 school
bonds carried, reports state, at a recent election.
LOGAN COUNTY (P. O. Beliefontaine), Ohio.—BOND SALE.—
On Sept. 3 the $18,500 5)4% 2H-yr. (aver.) coupon ditch-constr. bonds
(V. 97, p. 545) were awarded as follows: $10,000 to People's Nat. Bank of
LAWRENCE, Essex County,
Bellefontaine at 100.695 and $8,500 to Beliefontaine Nat. Bank for $8,564,
equal to 100.752.
LONG BEACH.
There were
Los
no
other bidders.
Angeles County, Cal.—BOND ELECTIONS.—
be
According to local newspaper reports, the following propositions will
submitted to
a
vote as follows:
$200,000 water-system-extension bonds on Sept. 16. '
150,000 auditorium bonds on Sept. 17.
200,000 city-hall bonds on Sept. 18.
60,000 picnic-pavilion bonds on Sept. 19.
400,000 horseshoe pier bonds on Sept. 20.
Interest, 5%, payable J. & J.
Due $10,000 yearly.
An issue of $20,000 6% sewer-construction certificates was awarded to the
County Trust Co. of White Plains on Sept. 2 at par.
Denom. $1,000.
Date Sept. 2 1913.
Due Feb. 28 1914.
Curtis & Sanger of N. Y. bid par.
MT. STERLING, Brown
MOUNTAIN
MAINE.—BOND OFFERING.—Further details
are
at hand relative to
1-40-yr. (ser.) coup, highway
bonds.
Proposals for these bonds will be received until 2 p. m. on that
day by J. W. Simpson, State Treas.
Denom. $100, $200, $500 and $1,000.
Date Sept. 1 1913.
Int. M. & S.
MANCHESTER,
Hillsboro
County,
N.
H.—BOND
OFFERING,
According to reports .proposals will be received until 10 a. m. Sept. 24
ng
Allen, City
$100,000 4% 1-20-year (ser.) streetrimpt.
by P.L/A—^ Treas., for ^
and sewer bonds.
Int. semi-annual.;
,
.
-
MARTINSVILLE SCHOOL DISTRICT (P.
O. Martinsville),
Mor-
?an County, Ind.—BOND OFFERING.—Proposals willfor $46,500 4)4%
be received until
m. Sept. 15, it is stated, by W.'E. Nutter, Sec.,
p.
"'i "
school-building bonds.
MARYLAND.—BOND
OFFERING .—Proposals
will be received until
12 m. Oct. 2 by M. Van diver, State Treasurer (P. O. Annapolis), for the
following 4% 10-15-year (opt.) coupon tax-free bonds:
$274,000 State loan of 1912, Series "E" (balance), $4,000; Series "F"
(balance), $100,000, and $170,000 Series "G.'
200,000 consolidated loan of 1913, Series "B."
400,000 second insane-hospital loan, Series "B."
300,000 Maryland State normal school loan, Series "B."
Denom. $1,000.
Date Ju,ly 1 1913.
Int. J. & J.
Certified check for
5% of bid required.
Bonds to be delivered at office of State Treasurer onOct. 13 and are subject to registration as to principal.
'
MASON CITY INDEPENDENT
SCHOOL DISTRICT (P. O. Mason
City), Cerro Gordo County, Iowa.—BOND SALE .—Reports state that
issue of $12,500 bldg. bonds haw been awarded to the First Nat. Bank
1915 to 1954 incl.
Certified check for 1% of bonds
BONDS VOTED.—This county recently voted to
required.
issue $60,000 road
bonds in District No. 4.
MEAGHER COUNTY SCHOOL DISTRICT NO. 8, Mont.—BOND
SALE.—On Aug. 27 the $16,000 10-20-year (opt.) coup. bldg. bonds (V.
97, p". 545) were awarded to the First Nat. Bank of White Sulphur Springs
at 100.625 and int. for 6s.
•
•
MIAMI COUNTY (P.. O. Troy), Ohio.—BOND SALE.—On Aug. 29
$18,000 5% funding flood bonds were awarded to the Piqua Nat. Bank for
$18,079, equal to 100.438.
Denom. $500.
Date Sept. 1 1913.
Int.
M. & S.
Due $2,000 yearly Sept. 1 1914 to 1922 inclusive.
MIDDLESEX COUNTY (P. O. Cambridge), Mass.—LOAN OFFER¬
ING.—According to reports, proposals will be received, until
S9pt„ 9 for a loancof $100,000 maturing Nov. 13 1913.
MIDDLETOWN
10 a: m.
'
'
SCHOOL DISTRICT (P. O.
Middletown), Middlesex County. Conn.—BOND OFFERING.—Pro¬
posals will be received until Sept. 10 by R. C. Markham, Treas., for $95,000
4M % reg. high-school-impt. bonds.
Denom. $1,000.
Date Sept. 1 1913.
Int. M. & S.
Due $5,000 yearly on Sept. 1 from 1915 to 1933 inch
Bonded
„
CONSOLIDATED
debt $50,000.
MILLVILLE, Cumberland County, N. J .—BONDS NOT SOLD.—No
bids were received on Aug. 29 for the $5,000 4)4 % coup, or reg. 20-year
otreeMmprovement bonds offered on that day (V. 97, p. 192).
-BOND
,,
Other bids
SALE.—On
Sept.
2 the
bonds (V. 97, p. 393) were
Minerva at 103.625 and int.
_
were:
Weil, Roth & Co., Cin
$4,132 Sidney Spitzer & Co., Toledo.$4,088
Tloehler & Cummings, Toledo. 4,107
Spitzer, Rorick & Co., Toledo. 4,003
Seasongood & Mayer, Cin
4,091
MINTER SCHOOL DISTRICT
—AMOUNT OF BONDS
(P.O. Minter), Lamar County, Tex.
VOTED.—We are advised that the amount of
the building bonds recently voted (V. 97,
p. 467) was
$8,000.
MORENCI, Lenawee County, Mich.—BOiVD ELECTION.—According
election will be held Sept. 8 to decide whether or not this city
issue
$10,0Q0 water-works-improvement bonds.
MINNESOTA.—BONDS, PURCHASED BY STATE.—During August
to reports, an
«hall
.
theTollowing 31 issues of 4% bonds dated Aug. 16, aggregating $271,855,
purchased at par by the State:
•were
BOND
that an
NEBRASKA.—BONDS PURCHASED BY STATE.—During August
the State purchased the following 5% bonds, aggregating $67,600:
$40,000 sch.-bldg., Albion Sch. Dist.
Date Nov. 1 1912.
Due Nov. 1
6,500
*
1942, opt. Nov. 1 1922.
water, Creighton (city).
1933, opt. March 1 1918.
Date March 1
1913.
Due March 1
500 sch.-bldg., Knox Co. Sch. Dist. No. 139.
Date Aug. 1 1913.
Due Aug. 1 1918.
20,000 sch.,-bldg., Madison & Antelope Counties Sch. Dist. No. 80.
Date March 1 1913.
Due March 1 1933, opt. any interest date.
600 sch.-bldg., Nemaha Co. Sch. Dist. No. 5.
Date May 27 1913.
Date Jan. 1 1918.
The first issue, the sale of which
was
purchased
NEW
was previously notedln the "Chronicle,"*
4)4 % basis, the remaining issues at par.
on a
ORLEANS, La .—BONDS AUTHORIZED.—An ordinance
was
on Aug. 27, it is stated, providing for the issuance of $3,000,000 5%
cotton-warehouse bonds.
Due $100,000 yearly on May 1 from 1934" to
1963, inclusive.
passed
.
NEWTON TOWNSHIP, Miami County, Ohio.-—BOND OFFERING.—
Proposals will be received until 2 p. m. Sept. 13 by II. J. Cox, Twp. Clerk
(P. O. Pleasant Hill), for $2,500 6% flood-emergency bonds., Denom. $500.
Date Sept. 1 1913.
Int. M. & S.
Due $500 yearly on Sept. 1 from 1914
to 1918 incl.
Cert, check for 5% of bonds bid for, payable to Twp. Clerk,
required.
Bonds to be delivered and paid for within 5 days from timeof
award.
Purchaser to pay accrued interest and bids must be unconditional.
NEW YORK CITY*—BOND SALE.—During the month of August
$500,000 3% bonds for various municipal purposes and $50,000 3% water
bonds (both issues maturing in 1922) were purchased by the Sinking Fund
at
par.
.
The following short-term securities (revenue bonds, bills and corporate
stock notes) were issued during August
Drtu
J>avi ,7t> '19
T
/"
Peo. bonds *13.
Iht.
Amount.
Amount.
Corp.stock notes. Int.
Special
4
$32,000 00 Var .mun .pur. *4 H
$1,446,586 14
**
Special
3
4
4
<
Current exps. *4®^
Current exps.*4 9-16
Current exps.#4M
—
^
.
,.
.
/
*357,833
*239,261
*1,197,011
*958,109
*480,583
Current exps. *4 H
Tot&l
,
700,000 00 Var.mun.pur *4%
Var.mun.pur. *4 11-16
48 Water
4)4
32 Water _—__*4 11-16
10 Water
*4)4
50
19
*
Rbv. Bills 1913—
Current exps_ *4 74
«
...
.
239,366 55
238,753 75
500,000 00
*716,448 58
*480,604 29
$7,586,557 90
—
♦Rate of discount; figures in "Amount" column represent proceeds of
loan after deducting discount. * Payablein (£) sterling.
NEZ
an
PERCE,
Lewis
issue of $8,000 6%
the Union Trust & Savs.
Date Sept. 1 1913.
County, Idaho.—BOND SALE.—On Aug. 21
10-20-year (opt.) funding bonds was awarded to
Bank of Spokane at par and int.
Denom. $1,000.
Interest J. & J.
NORTHWEST TOWNSHIP (P. O. West Baden), Orange County,
Ind.—WARRANT SALE.—On Aug, 28 the $1,000 6% school-bldg.
MATAGORDA COUNTY (P. O. Bay City), Tex.—BOND OFFERING.
are at hand relative to the offering on Sept. 13 of the
$30,000 5)4% Road Dist. No. 4 bonds (V. 97, p. 609).
Proposals for these
bonds will be received until 11 a. m. on that day by w . S. Holman, County
Judge.
Denom. $750.
Int. semi-ann.
Due $750 yearly on Aug. 11 from
—Further details
w
report
MUSSELSHELL COUNTY SCHOOL DISTRICT NO. 10 (P. O.
Waldheim), Mont.—BOND NOT SOLD.—Np sale has yet been made of
6% 3-5~year (opt.) coup, school bond offered on Aug. 1.
Date
July 1 1913.
Int. J. & D. at office of County Treasurer or in N. Y. City
_
i
Minn.—lVO
the $1,000
an
of Des Moines at par.
County,
on
MUSKOGEE, Muskogee County, Okla —BOND SALE.—Oh Aug. 5
$10,000 bonds, the remaining portion of the $150,000 5% 25-year parksite-purchase bonds (V. 96, p. 1172) were sold at par and accrued int.
McCOMB, Hancock County, Ohio.—BONDS VOTED.—By a vote of
101 to29, the proposition to issue $8,500 municipal-bldg. bonds carried at
the offering on Oct. 1 of the $300,000 4%
Cottonwood
Village Clerk denies the newspaper
the question of issuing well bonds.
election will be held
a
N. W. Hunt et al., $6,600 E.
Carey, $8,460 W. Jeffrey and $6,900 A. Burdette 4)4% gravel-road bonds.
Date June 21 1913, except $6,900 Issue,
which is qated Sept. 15 1913.
Int. M. & N. Due each six months from
May 15 1914.
The sale of these bonds will continue from day to day until
all of said bonds are sold.
'v
.
LAKE,
ELECTION.—The
LUCAS COUNTY (P. O. Toledo), Ohio.—BOND SALE.—On Aug. 29
$12,500 5% Children's Home impt. bonds (V.97, p. 392) were awarded to
Breed, Elliott & Harrison of Cincinnati at 100.69.
Other bidders were:
Seasongood & Mayer, Cin.$l2,550 00)Prov.Sav.Bk.ATr.Co.,Cin.$12,518 75
Stacy & Braun, Toledo... 12,542 50|Otis & Co., Cleveland... 12,511 00
Due $500 in two years and $1,000 yearly thereafter.
recent election.
■ .
MADISON COUNTY (P. O. Anderson), Ind.—BOND OFFERING.—
Proposals will be received until 10 a. m. Sept. 15 by O. P. Crim, County
Treasurer, for $3,860 H. H. Shawhan, $3,500 Ed. Frank et al., $7,440
County, 111.—-BOND ELECTION.—An elec¬
tion will be held Sept. 29, reports state, to vote on the proposition to issue
$16,000 water and sewer-system-ext. bonds.
rants
(V. 97, p. 468) were awarded to D. & D. Powell at 101.
Date Aug. 28 1913.
to call any time.
Int.
ann on
Aug. 28.
war¬
Denom. $200.
Due from 2 to 10 years, subject
NORWOOD, Hamilton County, Ohio:—BOND OFFERING.—Pro¬
posals will be received until 12 m. Oct. 6 by W. E. Campbell, City Aud., for
the following 20-yr. bonds:
$105,000 5%
water-works and electric-light-plant-impt. bonds voted
June 17, V. 97, p; 68.
Denom. $100 or multiples thereof.
Date Aug. 6 1913.
3,000„ 4)4% Beach St. sewer and culvert-constr. bonds.
Denom. $500.
Date June 18 1913.
20,000 4)4 % impt.
(city's
portion)
bonds.
Denom.
$500.
Date
July 2 1913.
Int. semi-ann.
Cert, check for 5% of bonds bid for, payable to City
Treas., required.
.
4
NUECES
COUNTY
(P. O. Corpus Christi), Tex.—BOND OFFER¬
are at hand relative to the offering on Sept. 10 of
20r40-year (opt.) Road Dist. No. 1 bonds (V. 97, p,
610).
Proposals; for these bonds will be received by W. F». Timon , County
Judge.
Denomination $1,000.
Date April 10 1913.
Int. "annual- on
April 14 at Bishop, Tex., or at Mechanics' & Metals' Nat. Bank, New York.
No deposit required.
No bonded or floating debt.
ING.—Further details
the
$100,000 5%
BONDS TO
reg.
BE OFFERED
SHORTLY.—We
are
advised
by the County
Superintendent under date of Aug. 25 that he will offer for sale shortly the
$250,000 5% 10-40-year (opt.) court-house and jail-construction bonds
voted July 19 (V. 97, p. 393).
Interest annual on April 10.
OAKLAND, Cal.—BIDS.—The other bids received on Aug. 28 for the
$990,000 5)4 % 1-30-yr. (ser.) bonds awarded on that day to N. W. Halsey
Co., the Central Nat. Bank of Oakland and thfe Oakland Bank of Savings
for $1,015,510 (102.576) and int. (V. 97, p. 610) were as follows:
R. W. Pressprich & Co., W.R. Staats & Co., Continental &
Commercial Trust & Savings Bank and A. B. Leach & Co_
$1,015,158
E. H. Rollins & Sous and the Harris Trust & Savings Bank.
1,015,245
Bond & Goodwin, Chicago
1,011,186
Anglo & London Paris Nat. Bank of San Francisco
994,286
There were 19 other bidders for small lots.
&
OAKLAND, Burt County, Neb.—NO BOND ELECTION.—We
are
advised that the question of issuing $17,500 sewer bonds was not submitted
to a vote on
Aug. 12,
as
reported in some papers.
OKLAHOMA.—BOND OFFERING.—Proposals will be received until
Sept. 15 (not Oct. 1 as first reported) at the office of the State Treas
2 p. m.
in Oklahoma City for the $2,907,122 19 4)4 % funding bonds (V. 97, p. 388).
Denom. f1,000, $500 and $1P0.
Date Oct. 1 1913.
Int. semi-ann. at the
fiscal agency in N. Y. or at the State Treas. office.
Due $290,710 yearly
from 1924 to 1933 incl.; all bonds are subject to call at any interest-paying
of bonds bid
date after 10-year* from date.
Cert, check for at least 1%
Robert Dunlop is State Treasurer.
for required,
OLIO
SCHOOL
Kern County, Cal.—BOND SALE.—
Reports state that the $4,000 bldg. bonds (V. 97, p. 254) have been dis¬
posed of.
DISTRICT,
ORANGE TOWNSHIP, Cuyahoga County, Ohio.—BOND'SALE.—
According to reports, $4,000 5% 6-yr. road bonds were awarded to G. March
of Chagrin Falls during August at par.
Denom. $500.
ORIENTAL SCHOOL DISTRICT (P. O. Oriental),
No. Caro.—BONDS NOT SOLD.—No sale was made
Pamlico County,
on Aug. 5 of the
$7,000 6% 20-year coup. bldg. and equip, bonds offered on that day
p. 254).
We are advised that they will be offered at private sale.
ORRVILLE,
Wayne
County,
(V. 97,
Ohio.—BONDS VOTED.—By a vote
of 624 to 58 the proposition to issue $41,000 municipal-electric-light-plant
constr. bonds carried, it is stated, at the election held Aug. 26.
Winnebago
County,
Wis.—BOND
SALE.—In the
"Chronicle" of June 14, page 1720, we referred to the sale of $188,000 4)4 %
West Algoma St. bridge bonds to local investors.
The City Clerk now ad¬
vises us that the bonds, which amounted to $190,000, were sold by public
subscription on July 15 at par.
Denom. $100, $200, $400, $500, $600
$700, $800 and $1,000.
Date July 15 1913.
Interest annual.
Due
$10,000 yearly, optional after 5 years.
OSHKOSH,
PACIFIC SCHOOL DISTRICT, Sacramento County, Cal.—BOND
the
$6,000 5% building bonds offered without
SALE.—It Is stated that
success on
Aug. 4 <Y. 97, p. 468) have been purchased by the
State Board
of Control.
(P. O. Paterson), N. J.—BOND OFFERING.—
Proposals will be received until 2p.m. Sept. 10 by the Finance and Auditing
Committee of the Board of Chosen Freeholders, J. MacDonald, Chairman,
for the following 5% coupon or registered bonds:
$110,000 road-improvement bonds.
Due $25,000 Oct. 1 1927, $20,000
PASSAIC
COUNTY
Oct. 1 1929 and $60,000 Oct. 1 1930.
26,000 bridge bonds.
Due Oct. 31 1931.
Denom. $1,000.
Date Oct. 1 1913.
Interest semi-annually at First
Nat. Bank, Paterson.
Certified check on a national or an incorporated
bank for 1% of bonds bid for, payable to J. L. Conklin, County Collector,
required.
PINELLAS COUNTY (P. O. Clearwater),
Fla.—BOND OFFERING.
be received until Oct. 1 by D. M. Hollins, Supt. Public
the following 6% school bonds:
No. 2 bonds.
Denom. $500.
Due in 20 years.,
No. 3 bonds.
Denom. $250 and $1,000.
Due in 20 years.
No. 8 bonds.
Denom. $500.
Due in 20 years.
No. 12 bonds.
Denom. $100.
Due in 10 years.
1913.
Int. A. & O.
Cert, check for 2% required.
—Proposals will
Instruction, for
$10,000 District
65,000 District
16,000 District
4,000 District
Date Oct.
1
PITTSBURG SCHOOL
DISTRICT, Contra Costa County, Cal.—
it is stated, in a vote
$52,000 building bonds.
BONDS VOTED.—The election held Aug. 26 resulted,
of 167 to 5 in favor of the question of issuing
PLYMOUTH, Richland County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 12 M. Sept. 30 by E. K. Trauger, Vil. Clerk,
ror the following 5% Public Square Impt. bonds:
$10,078 32 assess, bonds.
Denom. $1,007 83.
Date Oct. 1 1913.
Due
$1,007 83 yrly. on Oct. 1 from 1914 to 1923 incl.
,
6,638 58 Village's portion bonds. *, Date Sept. 1 1913.
Due part yearly
on Sept. 1.
Int. semi-ann.
Cert. check on a bank other than the one making the bid,
Bonds to be
Purchaser to
be reduced accord¬
for 5% of bonds bid for, payable to Vil. Treas., required.
delivered and paid for within 10 days from time of award.
accrued interest.
pay
ing
.
The amount of assess, bonds may
received from assessments.
ROCKY
OFFERING.—
re-advertising for sale the
bonds offered without
PORTER COUNTY (P. O. Valparaiso), Ind.—BOND
5K-year (average) highway-impt,
Aug. 26 (V. 97, p. 610).
$3,700
434%
success
on
on
RUNGE,
to
,
_.
93.78__*60,000
93.78_-*15,000
88.27__ 75,000
"
"
"
"
Karnes County^
Tex.-^RONDS VOTED.—The proposition
issue^the $203)00 water-work^,bonq^iA. 97, p. 469) carried at the ele«-
RUSH COUNTY
(P. O. RushviHe), Ind.—BOND OFFERING.—
Reports state that proposals will b^received until 10 a. m. Oct. 8 by
R. Holden, County Auditor, for $60,000 4)4% flood bonds.
A.
RUSKIN,
Nuckolls
County,
Neb.—BONDS
DEFEATED.—Th*
Village Clerk advises us that the quesMenqof issuing $15,000 bonds was
"defeated so badly at an election helcLAug. 19 that the village will not
try it again for a year."
do"
ST. PAUL, Minn.—BOND SALES—On Aug. 27 the $250,000 sewer and
$150,000 water-main-ext. 4)4% 30-yr. coupon bonds (V. 97, p. 469) Wftf*
awarded to Perry, Coffin & Burr of Boston at 100.02 and int.
There weH
other
no
7^.
bidders.
bonds, aggregating $797,834 0o,
Aug. 27 (V.97, p. 546) were awarded on that day to the Mer¬
chants Nat. Bank, C. O. Kalman & Co., and various smaller bidders, at par.
Denom. $100 or multiple thereof.
Due in 3 years, subject to call any inter¬
est-paying day.
"
On Aug. 2? $25,177 50 6% local-impt. bonds were awarded to various
bidders at par.
Denom. $100 or multiples thereof.
Due in 3 years, subject
to call any interest day.
Local papers state that $32,923 92 6% 3-year Randolph St. sewer
assessment bonds were also sold on Aug. 27, the purchaser being J. T. Haglund of Minneapolis.
The two issues of 6% paving (assess.)
offered
on
ST. PAUL, Howard County,
a
vote will be taken on the
Neb.—BOND ELECTION.—On Sept. 16
question of issuing $5,000 5 % sewer bonds.
Due
10 years from Oct. 1 1913, opt. after 5 years.
ST. PETERSBURG, Hillsboro County, Fla.—BOND ELECTION.—
Reports state that an election will be held Oct. 7 to submit to a vote the
question of issuing $227,050 improvement bonds.
ST.
PARISH
TAMMANY
(P.
Covington),
O.
La.—NO
BONDS
VOTED.—One of the newspaper reported that an election would be held
Aug. 16 to vote on a proposition to issue $50,000 railroad-aid bonds.
We
are advised that the question submitted, and which carried, was not that of
issuing bonds but the matter of levying a tax of 2 mills for 10 years in aid
the Gulf Port & Western RR.
"
ef
SALEM, Richardson County, Neb.—BOND ELECTION.—The elec¬
25 (V. 97, p. 469) to vote on the ques¬
of issuing the $4,953 electric-light bonds has been postponed until
Sept. 15 because of an error in publication of notice of election.
tion which was to have been held Aug.
tion
Columbiana County,
SALEM,
Ohio.—BOND SALE.—Reports state
offered on Aug. 19 (V. 97,
Cleveland at par
that the $40,318 25 5% 8-year refunding bonds
p.
395) have been awarded to Hayden, Miller, & Co. of
and interest.
BONDS
-
NOT
■
SOLD.—No
5)4 % 1 2-3-year street-impt.
(V. 97, p. 395).
sale
'
•
was
made,
(city's portion)
it is stated,
of the $1,515
bonds offered on Aug. 29
LAKE CITY SCHOOL DISTRICT, Utah.—BONDS NOT TO
that the district is authorized
$220,000 4>6% 20-yr. bldg. bonds, but the same will not be issued
SALT
BE ISSUED AT PRESENT.—We are advised
to issue
until about Jan.
1,
.
,
Polk County, No. Caro.—BONDS NOT SOLD.—No sale
been made of the $10,000 water, light and sewer bonds offered on July 25
SALUDA,
has
at not exceeding 6% interest.
Bernardino County, Cal.—BOND" ELEC¬
roads-And $15,000 fire-
TION.—The propositions to issue $75,000 good
equipment bonds will be submitted to a vote, it is
reported, on Sept. 10.
Cal.—NO ACTION YET TAKEN.—
towards
2 bonds
voted July 1 (V. 97, p. 133).
Denom. $300 and $1,000.
Date Sept. 1
1913.
Int. at Nat. Park Bank, N. Y., or at City Treasury.
Due $21,250
yearly on Sept. 1 from 1914 toi.d#53 inclusive.
! '
BOND SALE.—According to reports, the First National Bank.qljSan
Diego purchased $25,000 4& % park-impt. bonds at par and interest.
SAN DIEGO CITY SCHOOL DISTRICT (P. O. San DiegoX, San
Diego County, Cal.—BOND ELECTION.—We are advised thati^n,elec¬
tion will be held Sept. 10 to vote on the question of issuing $350,000 5%
site-purchase, building and equibplng bonds in place of $250,000, as
originally decided (V. 97, pJ'469>.~ Denom. $1,000.
Int. semi-annual.
Due $10,000 yearly from 6 to 40 years, inclusive.
SAN DIEGO, San Diego County,
The City Clerk advises us that no action has yet been taken looking
the issuance of the $850,000 5% gold coup, park-impt. fund No.
,
PORTLAND, Ore.-r-BIDS.—The bids received on Aug. 23 for the
$75,000 4% 25-yr. gold water-works bonds, the sale of which was reported in
V. 97, p. 610, were as follows:
.
Harris Trust & Savings Bank
.Accrued interest and 85.45__$75,000
A. B. Leach <fe Company
"
"
86.53-- 75,000
Department of Public Utilities, account
investmentof Water Bond Sk. Fund.
Beaumont Land Company
Blodget & Company
.
CuyahbgaFCbunty, Ohio.—BONDS NOT TO BE
RIVER,
Clerk advises us that the four
5% coup, bonds, aggregatings$17,372, offered without success
July 22 (V. 97, p. 315), v^n^beffe-Qffered for sale this year.
of
SAN BERNARDINO, San
POCATELLO, Bannock County, Idaho.—BOND ELECTION.—An
election will be held Sept. 11 (date changed from Aug. 19) to decide whether
or not this city shall issue the $90,000 street-paving and bridge-constr.
bonds (V. 97, p. 468)
xgvix.
RE-OFFERED THIS YEAR. —-The;Vil 1 age
issues
to the amount of cash payment
According to reports, the County Treasurer is
(Vol.
CHRONICLE
THE
im-i
_
Cal.-^^T&.^jLocal newspaper reports state that
neld Au'g'. 26, which resulted in favor of the
proposition' to issue the $3,500,000 municipal-railway-system bonds
(V. 97, p. 611), was 51,649 toil8.720. LHA":
F? SAN FRANCISCO,
*
Successful bids.
the vote cast at the election
'
.
Colo.—BOND ELECTION PROPOSED.—On Aug.
PUEBLO,
25 the
City Commissioners passed an ordinance on its first reading providing for
election to be held Nov. 4 to vote on the question of issuing $387,959
funding bonds at not exceeding 5% int.
Due within 15 years.
BONDS
an
PULASKI, Pulaski County, Va.—BOND SALE.-^-On Sept. 3 the City
Council sold at par the $50,000 5%
offered on June 3 (V. 96, p. 1440).
COUNTY
PULASKI
(P.
O.
We
Ind.—BOND SALE.—On
Aug. 25 the $3,300 4)4 % highway-impt. bonds (V. 97, p. 546) were awarded
to Frank Russell at par. -Denom. $165. Date May 6 1913. Int. M. & N.
:*
PUTNAM COUNTY (P. O. Ottawa),
Ohio.—BOND SALE.—On
Huysman & Huddle bridge bonds and $30,000 6%
ditch-impt. bonds (V. 97, p. 610) were awarded to Hayden, Miller & Co.
of Cleveland at 101.12 and 100.59, respectively:
Aug. 30 $11,000 6%
QUINCY, Norfolk County, Mass.—BOND SALE.—Estabrook & Co.
of Boston have purchased at par the following 4)4% coupon tax-free
without success on July 11 (V. 97, p. 314):
$38,775 street and sidewalk bonds.
Denom. (38) $1,000, (1) $500, (1)
$275.
Date June 1 1913.
Due $9,275 on June 1 1914, $8,000
yearly from 1915 to 1917 inch, and $5,500. on June 1 1918.
9,200 miscellaneous bonds,
Denom. (8) $1,000, (1) $500, (1) $700.
Date July 1 1913.
Due $4,200 on July 1 1914, $3,000 July 1 1915
and $2,000 on July 1 1916.
«
bonds offered
-
Interest semi-annually at
QUINCY
VALLEY
Wash.—BONDS NOT
National Shawmut Bank, Boston.
IRRIGATION
TO
DISTRICT
(P.
O.
advises us, under date of Aug. 23,
recently voted will not be offered for sale until
passed upon by the Supreme Court.
that the $200,000 bonds
the proceedings have been
,
.
RANDOLPH COUNTY (P. O, Winchester),
SOLD.—According to reports, no sale was made on
REDDING,
Shasta
Ind.—BONDS NOT
Sept. 2 of the $2,660
gravel ro$d bonds offered on that day (V. 97,
-
County,
Cal.—BONDS AWARDED.—Reports
that the $60,000 5% Sacramento River bridge-construction bonds,
bids for which were received on Aug. 20 (V. 97, p. 610), have been awarded
state
to N. W. Ilalsey
& Co. of San Francisco at 102.54.
REEDLEY, Fresno County, Cal.—BOND ELECTION PROPOSED.—
Reports state that the question of issuing $70,000 sewer and water bonds
will be shortly
submitted to
a
vote.
,
COUNTY (P. O. Refugio), Tex.—BONDS VOTED.—An
issue of $25,000 Road Dist. No. 2 bonds was recently voted.
REFUGIO
RICH GROVE TOWNSHIP
(P. O. Dunham), Pulaski County, Ind.
OFFERING.—Proposals will be received until 10:30 a. m. Sept. 20,
reported, by A. C. James, Township Trustee, for $8,000 5% 10-year
school-building bonds.
"
—BOND
it is
ROCKINGHAM COUNTY (P. O.
Wentworth), No. Caro.—BONDS
Son & Co. of N. Y. are offering to
funding county home and bridge bonds. De¬
nom. $1,000.
Date Sept. 1 1913.
Int. ann. on April 1 in N. Y. or Chicago.
Due $5,000 yearly April 1 from 1915 to 1926 incl.
Total bonded debt,
including
this issue, $95,000.
Assessed, val., $11,992,216; real val.,
OFFERED BY BANKERS.—Farson,
investors $60,000 6% coup,
$30,000,000.
,•
:
\
-
-
ISLAND, Rock Island County, 111.—BOND ELECTION.—
Reports state that an election will be held Sept. 11 to vote on the questions
of issuing $21,000 bonds to purchase ball grounds and convert into a park,
$17,000for water-main-extension, $22,000 water-works tank, $16,000 hose
station, $5,000 Milam bridge lmpt. and $10,000 police-telegraph-system.,,
ROCK
COUNTER ;^L6c&\ newspapers dated Aug. 30
OVER
STE.
MARIE,
Chippewa County,
been advised that $15\330 5%
June 30 to Hoehler A^Quimmings
have just
awarded
on
$381 for commission and
Mich.—BOND SALE.—
5-year paving bonds were
of Toledo for $15,337, less
Int. F.&A.
Date Aug. 11913.
printing of ponpse
SCHENECTADY, Schenectady/County, N. Y.—BOND SALE.—On
Sept. 2 the $300,000 1034-year (av.) reg. park bonds (V. 97, p. 611) were
awarded to Blodget & Co. of Boston f6» $305,411 (101.803) and int. for 5s.
Other bidders were:
Farson, Son & Co., N. Y
Remick, Hodges & Co.,
•New York
Dominick fc Dominick,
New York__
The above bids were
$305,241 00
304,049 80
.
Adams & Co., New York
__$302,100
Blake Bros. & Co., N. Y___
30M38
Pressprich and asso- tH'**
dates, New York
301-.657
R. W.
303,750 00
all for 5% bonds.
„
_
SCIOTO COUNTY (P. O. Portsmouth), Ohio.—BOND SALE.—
Reports state that on Sept. 1 the $440,000 5% 28)4-yr. (aver.) floodemergency bonds (V. 97, p. 547) were awarded to a syndicate consisting
of Fifth-Third Nat. Bank, Seasongood& Mayer, Cincinnati, and Hayden,
Miller & Co. and Otis & Co. of Cleveland at 101.68.
Quincy),
BE OFFERED AT PRESENT.—'The District
Secretary
4)4 % T. A. Morrison et al
p. 610.)
SAULT
30-year coup, sewerage-system bonds
Winamac),
SOLD
report that some $395,000 5% bonds have been disposed of over the counter
and deposits have been received.forf additional purchases of $34,000.
SEADRIFT, Calhoun County, Tex.—AMOUNT OF BONDS VOTED.
that the amount of street bonds recently voted (V. 97,
—We are advised
p.
547) was $8,000.
SHELBY COUNTY (P. O.
;
Shelbyville),Tnd.—BONDS NOT SOLD.—
for the $6,400 434% highway improvement bonds
Sept. 2 (V. 97, p. 469).
"
'' ■
No bids were received
offered on
_
SHELBiY COUNTY COMMON SCHOOL DISTRICT NO. 14, Tex.—
REG I TERED.—An issue of $800.5% 5-20-year (opt.) building
BONDS
bonds was
registered by the State Comptroller on Aug.
.20.
COMMON SCHOOL DISTRICT NO. 82, Tex.—
BONDS REGISTERED.—An issue of $1,200 5% 5-20-year (opt.) building
bonds was registered by the State Comptroller on Aug. 20.
SHERMAN (Town) UNION FREE SCHOOL DISTRICT NO. 5,
(P
O Sherman), Chatauqua County, N. Y.—BOND OFFERING.—
Proposals will be received until 8 p. m. Sept. 17 by F. L. Morris, Clerk,
Bd. of Ed., for $35,000 5% registered school-bldg. bonds.
Auth. Chap.
140
Art. 15, Sec. 480, Education Law 1910.
Denom. $500.
Int. ann.
on Nov. 1.
Due $1,000 yrly. Nov. 1 beginning 1913 for 9 years and $2,000
vrlv
on Nov. 1 thereafter.
These bonds were offered without success as
4J4S on Sept. 2 (V. 97, p. 545.)
SMITH COUNTY (P. O. Tyler), Tex—BONDS VOTED.—The ques¬
tion of issuing the $30,000 road bonds in Bullard District (V. 97, p. 547)
carried at the election held Aug. 28.
.,r
SMITH COUNTY COMMON SCHOOL DISTRICT NO. 68, Tex.—
BONDS REGISTERED.—An issue of $1,000 5% 10-20-year (opt.) building
bonds was registered on Aug. 21 by the State Comptroller.
SOMERVILLE,
Burleson County, Tex.—BONDS PROPOSED.—
We learn that this city is contemplatingithe issuance of $10,000 water-worksSHELBY COUNTY
construction bonds."
-
..
...
SOUDAN SCHOOL DISTRICT (P. O. ?oudan), Saint Louis County,
Minn.—BONDS VOTED.—The question of issuing $15,000 4% building
bonds carried at the election held Aug. 26 by a vote of 168 to none.
Due
July 1928.
These bonds, we are advised, will be sold to the State of Minn
Sept. 6
—
•
—
-
•
~
■
(ser.) sewer
Cambria
question of issuing
held Aug. 5.
$34,000
Jas.
$50,000 5%jl-31-
MOLD.—Reports state that no
SPANGLER
UTICA, Oneida County, N. Y.—BOND OFFERING.—Proposals will
wdM-Warded,
SPRINGFIELD TO WNSHIF (P. O. Petersburg).
3,000 park-land-addition bonds.
Date May 15 1913. Due $150 yearly
from 1914 to 1933 inclusive.
Denom. to suit purchaser, but for not less than $100, and all bonds must
be in multiples of $100.
Int. J. & J. at office of City Treasurer or, upon
request of reg. holders, in N. Y. exchange.
Due $5,000 yearly on July 1
from 1916 to 1933 incl.
Certified check for 1% of bonds bid for, payable
Mahoning County
action has yet been taken looking towards the re-offering of
$60,000 5% road-impt. bonds offered without success on July 18 (V,
troller and must be
VALLEY, Bureau County, 111.—BOND ELECTION.—A
Sept. 22 on the question of issuing $25,000 sewer bonds.
previously voted on June 24 (V. 97, p. 134), but an error
discovered in the form of ballot used.
""
SPRING
▼ote will be taken
VALLEY COUNTY SCHOOL DISTRICT NO. 8.
Mont.—BOND
OFFERING.—Proposlas will be received until Sept. 17 for $3,500 6% 1020-year (opt.) building
Cal.—BONDS VOTED.—According
reports,the proposition to issue $5,000 8% school bonds carried at the
•lection held July 26 by a vote of 18 to 6.
STANLEY SCHOOL DISTRICT,
(P. O. Canton), Ohio.—BOND SALE.—On Sept. 3
(av.) road-improvement bonds, aggregating
reports state, to Weil, Roth «Ss Co.
$50,000 (V. 97, p. 395), were awarded,
•f Cincinnati at 105.80.
VAN WERT, Van Wert County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 12 m. Sept. 17 by W. Klein, City Aud., for
$22,300 No. Wainut St. and $21,680 No. Market St. 5% impt. assess,
bonds.
Date Sept. 27 1913.
Int. M. & S.
Due part yearly on Sept. 27
from 1914 to 1923 incl.
Cert, check for $50 required with No. Walnut St*
issue and $100 required with No. Market St. issue, payable to City Treas.
Bonds to be delivered
and paid for within 10 days from time of award.
STRYKER, Williams County, Ohio.—BOND SALE.—'The S23.000
&% 18-yr. (aver.) road-impt. bonds offered on Aug. 30 (V. 97, p. 469) were
awarded, reports state, to the II. F. Bruns Bank of Stryker at par.
O.
(P.
Ohio.—BONDS NOT SOLD—
Akron),
According to reports, no bids were received on Sept. 2 for the $4,221 67
6% coup. Kenmore Boulevard (assess.) bonds offered on that day (V.97,
p,
469). These bonds, it is further stated,
We are advised by the
SUPERIOR, Douglas County, Wia.—BONDS AWARDED IN PART.
city has been offering
of. No sale has been
(V. 97,
p.
255).
year.
of $30,000 sewer
bonds.
WALLACE INDEPENDENT SCHOOL DISTRICT (P. O.
Shoshone County, Idaho—BOND SALE.—The $55,000 6%
•
Wallace),
10-20-vear
(opt.) building bonds offered on Aug. 2 (V. 97, p. 255) have been sold for
$55,801, equal to 101.456.
Denom. $500.
Date July 1 1913. Int. J. &J.
In reporting this sale in last week's "Chronicle," the amount of bonds was
incorrectly given as $35,000.
SUTTER SCHOOL DISTRICT. Sacramento County, Cal.—BOND
SALE.—The State Board of Control has purchased the $7,000 5% building
bonds offered without success on Aug. 4 (V. 97, p. 469).
TACOMA,
.
Shoshone County, Idaho.—NO BONDS ISSUED.—
Clerk that this city will issue no sewer bonds this
Newspaper reports state that Council has authorized the issuance
WALLACE,
will be disposed of at private sale.
—Of the $65,000 4)4 % 20-yr. school bonds which this
for sale over the counter, $27,200 have been disposed
made of the $9,000 sewer bonds.
Auth. vote of 25 to 13 at the election held
District Clerk (P. O. Saco).
VALLIANT, McCurtain County, Okla.—RESULT OF BOND ELEC¬
TION.—According to newspaper reports, the proposition to issue water¬
works bonds carried, while the question of issuing electric-light bonds was
defeated at a recent election.
the two issues of 5% 3 4-5-year
COUNTY
bonds.
W. G. Schneider is
Aug. 6.
to
SUMMIT
for less than
City Comp¬
unconditional.
The legality of the $30,000 issue will
be approved by Caldwell, Masslich & Reed or New York City, whose opinion
will be on file in the City Comptroller's office before delivery.
$5,000.
97,
These bonds were
STARK COUNTY
City Comptroller, required.
No check required if bid is
Bids must be made on blank forms furnished by the
to
the
Po?55).
was
1913.
yearly
'
(P. 0. Milan),
under date of
no
by F. G. Reusswig, City Comptroller, fo#
following 4reg. tax-free bonds:
$30,000 street-improvement
(city's share) bonds. Date July 1
Due $3,000 yearly on July 1 from 1914 to 1923 inclusive.
2,000 subway-extension bonds.
Date May 1 1913.
Due $100
from 1914 to 1933 inclusive.
the
d$lQ.--NO ACTION YET TAKEN.—The Township Clerk advises us
That
Wright & Co. of Denver.
be received until 12 m. Sept. 11
SPENCER, Rowan County, NwdDaro*—BOND SALE.—On Aug. 22
of 5% 30-year cdtiAhj¥ bonds, aggregating $60,000, offered
emJuly 15 (V. 96. p. 1649),
it is stated, to Sidney Spitzer
A Co. of Toledo.
*
.dsft
SPOKANE COUNTY SCHO.OL DISTRICT NO. 1
Wash.—BOND SALE.—The DlstHct Clerk advises us
Aug. 31 that an issue of $5,000 bonds has been sold.
N.
Int. semi-ann.
Co{&V
BONDS DEFEATED.—The
watei'-woirlbi bdnds was defeated at the election
the two issues
Bids were also received from Wra. O. Bweei <fc Co. and
Denom. $500.
Date Juljr 16 1913.
attorney's fees.
S afi" Mateo
bWs wer e raCei v ed for the
bonds offered on"Aug.
(V. 97, p. 395).
SOUTH SAN FRAN CI 3 C O,
yoar
<583
CHRONICLE
THE
1913.]
Wash.—BOND SALES.—During the months of July and
August this city issued the following 7% special-improvement assessment
bonds aggregating $42,988 08.
When due. Sub. to call.
Purpose.
Amount.
•'
Date.
July 21 '23
Annually
Paving
'
$27,026 88 - July 21 *13
July 16 '18
"
Grading & cement walks.
840 00
July 16'13
Aug.
4 *23
Paving
439 45
Aug. 4 *13
Aug. 11 '23
Paving
470 00
Aug. 11 *13
Aug. 11 '18
Cement walks
1,215 55
Aug. 11 *13
Aug. 18:i8
"
Planking A cement walks
5,432 40
Aug. 18 '13
Aug. 20 *18
"
Cement walks
7,563 80
Aug. 20 '13
i
Trumbull
WARREN,
Ohio— BOND
County,
OFFERING.—Pro¬
posals will be received until 12 m. Sept. 16 by W. E. Diller, Citv Aud., for
$4,500 5% storm water-sewer-constr, bonds.
Auth. Sec. 3939 Gen. Code.
Denom. $500.
Date April 15 1913.
Int. A. & O.
Due $580 each six
15 1917 to Aprii 15 1921 incl.
Cert, check for $100,
payable to City Treas., required.
Bonds to be delivered and paid for
within 5 days from time of award.
Purchaser to pay accrued interest.
months from April
_
WASHINGTON CONSOLIDATED RURAL SCHOOL DISTRICT,
County, Miss.—BOND OFFERING.—Proposals will be received
.
Greene
until.Oct. 6, it is stated, by the
v
County Treasurer (P. O. Leakesville) for
TAMAQUA, Schuylkill County, Pa.—BOND ELECTION PROPOSED.
—Reports state that the question of issuing $20,000 street-paving and firedepartment-improvement bonds will be submitted to the voters at the
$3,500 school-improvement bonds.
coming election.
of issuing school
■
,
WAUCHULA SCHOOL DISTRICT (P. O. Wauchuia). Do Soto
County, Fla.—BOND ELECTION.—An election to vote on the question
bonds will be held Sept. 13, it is reported.
•»
TAMAROA, Perry County, 111.—BONDS VOTED.—A favorable vote
cast at a recent election, it is stated, on the question of issuing $6,500
electric-light-system bonds.
WAVERLY SCHOOL DISTRICT (P. O. Waverly),
Coffey County
Kans.—DESCRIPTION OF BONDS.—'The Secretary of the Board of Edu¬
cation advises us that the $18,000 building bohds recently voted (V. 97, p.
255) bear interest at the rate of 5% . payable J. <fc J.
Denom. $500. Data
July 1 1913.
Due July 1 1928, optional after July 1, 1923.
was
TAYLOR
(P.
TOWNSHIP
O. Brimson),r Grundy
County,
Mo.—
97,
DESCRIPTION OF BONDS.—The $5,000 road bonds voted June 28 (V.
ue
TION.—We are advised by the County
Burt County, Neb.—BONDS DEFEATED.—'The ques¬
tion k)f issuing $10,000 sewer-system bonds was defeated, reports state, at
a recent election.
,v
.
.
to vote
TEKAMAH,
bonds were
$4,000
10,000
10.000
3,000
8,000
2,500
6,562
1.000
10,000
12,000
Place Issued.
Guadalupe Co. C.
Due.
ituc.
33-,
bonds.
"
__20
"
NCIP7j>_--—
S;;iIJ."No. 15.
Copeville I. S. Ujt -
vri
Henderson Co. C. S.2
CalalLen I.
- - - .
tb'i No. 23--,
S. D____
-
40
40
._,_.—._20
i
—
-20
—10
Nueces County O. S. D. No. 1.:
;---.^--20
Cherokee County C. S. D. No. 91
1
-20
Howard County C. S. D. No. 4
^_20
Young County C. S. D. No. 44—:
-20
Fannin County C. S. D. No. 17
Victoria County C. S. D. No. 15
*2,000 00
800 00
500 00
5,000 00
1,000 00
—
500 00
.20
Willow Hole I. S. D__.
2.500 00
13.000 00.
2,000 00
4,000
8,000
2,000
1,300
1,580
1,300
"
20
.40
;
Jay ton I. S. D
Robstown I. S. D
-
—-40
- -
Robstown I. S. D—
•/
20 years
00
00
00
00
00
00
—-40
---20
Tarrant County C. S. D. No. 91
Frio County C. S. D. No. 5
Brashier I. S. D___
Nacogdoches County C. S. D. No.
Nacogdoches County C. S. D. No.
Nacogdoches County C. S. D. No.
Nacogdoehes County C. S. »D. No.
Nacogdoches County C. S. D. No.
Erath County C. S. D. No. 52..--
800 00
2,500 00
Smith County C. S. D. No. 17—
Smith County C. S. D. No. 71,-Grimes County C. S. D. No. 1
500 00
3,000 00
500 00
1,000 00
Grimes
500 00
7,500 00
1,300 00
6.000 00
5 years
10
"
20
20
10
"
"
"
20
5
5
5
5
"
10 years
10
"
-.20
20
———20
5
20
-40
20
20
20
20
40
20
5
1
5
5
1
"
"
"
"
"
"
"
"
"
"
Comptroller also registered $40,000 5% 10-40-year (opt.) courthouse bonds of Crosby County, $20,000 water-works and $ 45,000 street
5% 10-40-year (opt.) bonds of the city of Belton and $54,000 5 % 20-30-year
(opt.) funding bonds of the city of Amarillo.
The
TUSTIN SCHOOL DISTRICT, Orange County,
were received for $50,000 5% bonds
SOLD.—No bids
bonds were
Date Aug.
previously offered without
1
1913.
success on
Calif.—BONDS NOT
offered Aug. 6.
The
July 15.
Denom. $2,000.
TUTWILBR, Tallahatchie County, Miss.—BOND OFFERING.—
Proposals will bo received until 2:30 p. m; Oct. 7, it is stated, by J. L.
Donald, Town" Clerk, for $13,500 6% 20-year water-works and sewer
bonds.
,Interest annual.
Certified check for $300, required.
(Filer), Idaho.
bldg. bonds were
accrued int., and
TWIN FALLS COUNTY SCHOOL DISTRICT NO. 5
—BOND SALE.—On Aug. 18 $4,000 6% 20-yr. coupon
awarded
to Causey, Foster &
Co. of Denver at par,
Comnty,
So.
C&to.—BOND ELECTION
be held in the near future
$65,000 water-works and
sewerage
bonds.
YAMHILL, Yamhill County, Ore.—BOND SALE.—On
Aug. 1 $3,900
6% 1-10-year (opt.) coup. Impt. Dist. No. 1 bonds were awarded at par and
int. as follows:
$3,100 to Oregon Eng. 9c Con. Co. of Oregon City, $500
to Rosa Ann Goodrich of Yamhill and $300 to L. J. Gregersan of Carlton.
The bonds are part of an issue of $4,300, of which $400 has been canceled
(V. 97, p. 71.)
.
' "
V
ING.—Proposals will be received Until 12 m. Sept. 22, not Sept. 12 as first
reported, by J. D. Hughes, Secretary of Beard of Road Commissioners, for
$150,000
5H%
30-year road-improvement
bonds.
Denom. $1,000.
Date Sept. 22 1913.
Int. annually at place to suit purchaser.
Certified
check for 5% of bonds bid for required.
A like amount of bonds was of¬
fered on June 2 (V. 97, p. 612).
YORKTOWN, Dewitt County, Tex.—BONDS VOTED.—According
reports, the proposition to issue the $8,000 city-hall-construction bonds
(V. 97, p. 135) carried at the election held Aug. 28 by a vote of 84 to 59.
to
5
5
—
•
None
_20
i
"
"
"
Fairfield
YANCEY COUNTY (P. O. Burnsville), No. Caro.—BOND OFFER¬
"
Erath County C. S. D. No. 9
Comanche County C. S. D. No. 2Limestone County C. S. D. No. 2
Grimes County C. S. D. No. 16Lakeview I. S. D
■"
10 years
10
" '
10
.----20
'
None
20
the Auditor that
PROPOSED.—Reports state that an election will
to vote on the question of issuing not exceeding
'
5
None
40
County C. S. D. No. 2
D. No. 3
Grimes County C. S.
Ore I. S. D
8,000 00
J,000 00
5
"
"
"
"
10
,-—20
Tell I. S. D____
2,500 00
500,00
10
by
WINNSBORO,
5 years
10
"
40
— --
Tripp County, So. Dak.—NO BONDS VOTED.—We are
the reports stating that this city recently
He further states that the city is in¬
vestigating a new site for a water-plant, and, if successful, bonds from
$10,000 to $20,000 will be voted.
;
WINNER,
voted $7,000 bonds are erroneous.
year
10
9
12___ ...20
18-,, .—20
,--—20
25-,.—-20
43---
of work this season.
•
••
Winchester), Randolph County,
$13,000 5% school bonds were awarded
to the People's Loan & Trust Co. and the Randolph County Bank of
Winchester at par.
Denom. $500.
Int. J. & J.
advised
10 years
10
W. Va —NO BOND ELECTION.—We are advised by
of Control under date of Sept. 3 that no date has been
election to vote on the question of Issuing street-improvement
It was decided that the time required for advertising would necessi¬
an
Ind.—BOND SALE— On Aug. 28
None
--40
Harrison County C. S. D. No. 6
Parker County C. S. D. No. 71----
800 00
.
.
WHITE RIVER TOWNSHIP (P. O.
None
$1,000 each
'
Comanche Co. O; S.,Q;?No. 26--
ELECTION.—An elec¬
the question of issuing $15,000 sewer¬
tate the postponement
10 years
5
"
ZZ3^IIZI"I1II"III40
bonds.
WHEELING,
Option.
20 years
-40 •"
fy.
^
Sweeny I. S. D.
Klondike I. S. D
Lamar Co. C. S. D.
.
the Clerk of Board
set for
REGISTERED.^-The following
5%
school-house
registered by the State Comptroller during the week ending
Lamar County S. Dv.No.
00
00
00
00
00
00
50
00
00
00
a
WHARTON, Wharton County, Tex.—BOND
age-system-extension
TEXAS.—BONDS
Atnount.
316, but that
tion will be held Sept. 14, to vote on
issue^f>d>% 1-year bonds, sufficient to redeem $1,600,000 State bonds
falling; due Oct. 1 1913, has been sold to a banking syndicate headed by
Potter, Choate A Prentiss and Harris^Foibes & Co.
The bonds are being
offered by this syndicate at par and Interest, yielding 5%.
Denom.
$1,000 and $10,000.
Coupon, with privilege of registration in full.
Date
Oct. 1 1913.
Int. A. 9c O. at National P^rk Bank, as fiscal agent for the
State, in New York City, or at the State,Treasurer's office in Nashville,
at option of holder.
**
Aug. 30:
the proposition to
required.
SOLD.—An
BONDS
REFUNDING
on
V. 97, p.
...
TENNESSEE.—SHORT-TERM
O. Red Cloud), Neb.—NO BOND ELEC¬
Clerk that there will b« no election
issue $60,000 court-house bonds as reported in
levy will be made sufficient to raise the amount
WEBSTER COUNTY (P.
1 1913. Int. A. & O.
6, 134) carry 6%opt. at any interest-paying period.
int. Denom. $500. Date Oct.
Oct. 1 1923,
<
Canada, its Provinces and MunicipalitiesBARRIE,
Ont.—DEBENTURES DEFEATED.—'The by-law to rais.
$10,000 to purchase the Lont Park property was
^
fgcont election
defeated, it is reported, at
•
BATTLEFORD,
Sask.—DEBENTURE OFFERING.—Proposals will
be received until 12 m. Sept. 19 by J. P. Marshall, Secy .-Treas., for an
issue of $40,000 510-yr. debentures to purchase stock in the Laurentia
Milk Co. of Sask., Ltd.
(Rural
BEAVER
Municipality No. 276),
Sask.—DEBENTURE
OFFERING.—Proposals will be received up to and including Sept. 5 by
O. Foam Lake), for $10,000 5% road-impt.
debentures.
Due ann. at Northern Crown Bank, Foam Lake.
A. H. Parrott, Sec.-Treas. (P.
BLACKIE, Alta.—DEBENTURES NOT TO BE OFFERED AT PRES¬
6% well, cemetery and streefr-impt.
(V. 96, p. 1651) will not be offered for sal*
ENT.—We are advise* that the $2,500
debentures recently authorized
at present.
19, Alt\.—DEBENTURE
disposing of the $750,000 5%
« Co. of New York at
approximately 88.
Interest semiannual.
Due one-fortieth yearly.
CLARENCE TOWNSHIP. Russell
County, Ont.—DEBENTURE
OFFERING.—This township is offering for sale at 95 the $14,632 80 5%
Cobbs Lake Drainage debentures offered without success cm June 20 (V. 96,
p. 1576) .
Due in 20 ann. installments.
,
,
DUCK LAKE, Sask.—DEBENTURE ELECTION.—The proposition
to issue $11,000 town-hall-construction debentures will be submitted to a
vote on Sept. 12," reports state.
A similar issue of bonds was voted in June
(V. 96, p. 1724).
CALGARY
SCHOOL
DISTRICT
NO.
SALE.—Reports state that this district is
school debentures (V. 97, p. 135) to W.
O. Langley
,
684
[Vol.
GRANUM, Alta —DEBENTURE ELECTION.—A by-law providing
for the issuance of $1,000
lighting-system debentures will be submitted
to the burgesses, reports state, on
Sept. 16.
GREY COUNTY (P. O.
.
xcvii.
OWEN
SOUND, Ont .—DEBENTURES DEFEATED.—'The proposi¬
$20,000 storm-sewer-constr. debentures (V. 97, p. 472)
defeated at the election held Aug. 26.
tion to issue the
was
PORTAGE LA
Owen Sound), Ont.—DEBENTURE SALE.—
PRAIRIE, Man,—LOAN DEFEATED.—'The
An issue of $20,000 20-yr. bridge debentures dated
July 11913 was purchased
in August by Geo. A. Stimson & Co. of
Toronto.
HANTSPORT, N. S.—DEBENTURE SALE.—During August $7,000
5% 20-yr. general debentures dated Aug. 1 1913 were awarded to J. M.
Robinson & Sons of St. John.
election
held Aug. 18 resulted in the defeat of
the
as a bonus to the
Portage Industrial
OFFERING.—Proposals
by-law providing a loan of $20,000
Exposition Assn. (V. 97, p. 472).
~J£9£EI?ALE (Rural Municipality No. 283), Sask .—DEBENTURE
will be received until Sept. 15 by A. Holm,
Secy.Treas., for $7,000 4)^ % 20-yr. debentures.
*
LAMBTON COUNTY (P. O.
Sarina), Ont.—DEBENTURE SALE.—
ROSETOWN, Sask.—OPTION TO PURCHASE
DEBENTURES.—,
Option has been granted Ira Kemln& Co. of Regina until
Sept. 10 to purchase at 90 the three issues of 7%
20-yr. debentures offered on
Reports state that the $20,000 5% HHnstallment debentures (V. 97, p. 73
have been purchased by the Bank of .Ottawa at 96.
(V
LOUGHEED, Alta.—DEBENTURES AUTHORIZED.—The Council
recently passed a by-law providing for the issuance of $2,000 general and
$4,000 school debentures.
by
a
Sask.—DEBENTURE OFFERING.—Proposals will be
for $5,000 6% 20-yr. local-impt. debentures authorized
vote of 86 to 37 on Aug. 22.
(V.97,p. 472.)
MAPLE
CREEK, Sask .—DEBENTURES NOT SOLD.—No satisfactory
were received Aug. 25 for the $15,000
20-yr. local improvement and
$10,000 30-yr. water-works and sewerage-extension 6% debentures (V. 97,
p. 549.)
tenders
SCHOOL
Sask.—DEBENTURE SALE.—
30-year debentures,
SASKATOON
BATTLEFORD,
Sask .—DEBENTURE
ELECTION.—On
sewer
VANCOUVER, B. G.—RESULT OF BOND ELECTION.—
Reports state that the question of issuing $5,250 debentures to purchase
part of Central school site carried, while the propositions to issue $28,000
police-station-site-purchase and $30,000 police-station-building debentures
were defeated at a recent election.
'
SCHOOL
DISTRICT
NO.
2307
(P.
O.
Dominion Bond Co., Montreal
Reports state that these
SWIFT
91.77
were
error on
ON
90.47
90.47
90.27
WINDSOR, Ont .—DEBENTURE SALE.—Reports state that $78,500
school and water debentures have been awarded to W. A. Mackenzie &
Co. of Toronto for $76,362—equal to 97.277.
the successful bidders.
NEW
BLODGET
&
M
STATE
STREET,
ESSEX COUNTY,
BOSTON
STATE, CITY& RAILROAD BONDS
CINCINNATI
N. J.,
4^% Plank Road Improvement
30 PINE STREET< NEW YORK
Bonds
Ingalls Building
.
LOANS.
$150,000
CO
BONDS
APPLICATION
SEASONGOOD & MAYER
the part of
VICTORIA, B. C.—DEBENTURE ELECTION PROPOSED.—An elec¬
tion will be held in the near future, reports state, to vote on the
question
of issuing $1,500,000 debentures for the Sooke Lake project.
91.43
RAILROAD]
on Aug. 22
$14,000 (V. 97,
took place, the
the publishers.
such sale
dated June 2 1913,
92.03
*
91.43
90.27
BONDS
no
Sask.—DEBENTURE ELECTION.—'The
propo¬
MISCELLANEOUS.
MUNICIPAL AND
that
92.379
:
92.58
______
CURRENT,
us
VANCOUVER, B. C.—DEBENTURE SALE.—During August G. A.
Stimson & Co. of Toronto purchased $10,000 20-yr. local-impt. debentures
87.05
*92.379
Wood, Gundy & Co., Toronto
Dominion Securities Corp:
Murray, Mather & Co., TorontoE. H. Rollins & Co., Boston
:
H.
Burgess & Co. of
issue of $14,800 5% deben¬
sitions to issue $88,000 water-works-system and $28,500 fire
equipment
6% 30-year debentures will be submitted to a vote, it is reported, on
Sept. 8.
*94.55
N. W. Harris & Co., Montreal-.
398.)
The Secy.-Treas. advises
advertisement being the result of an
90.49
■
-
an
One of the papers recently printed an advertisement of the
sale
issues of 53^ % 20-yr. debentures,
aggregating
Civic Bonds.
91.77
-
12
local-impt. and $6,500 water-works-ext. 5%
of two
p.
OTTAWA, Ont —DEBENTURE SALE.—The tenders received Aug. 28
for the $236,000 4^ % 30-yr. school debentures and various issues of 43^ %
civic debentures aggregating $928,706 40. (V. 97,
p. 136).
were as follows:
Bank of Ottawa, Ottawa
C. Meredith & Co., Montreal
G. A. Stimson & Co., Toronto
DISTRICT,
Toronto were awarded at private sale in June
tures for $12,400 and int., equal to 83.788.
I
School Bonds.
SCHOOL
.
SALE— On Aug. 1 $1,200 7% 10-yr. building deben¬
1914 were awarded to the Western School Supply Co.
1
SEPARATE
STETTLER, Alta.—DEBENTURE SALE.—C.
Cadogan),
Alta.—DEBENTURE
LIST
defeated.
Man.—DEBENTURE
OFFERINGS.—Proposals will be
m.
Sept. 22 by T. Partington, Sec.-Treas., for $4,500
25-year (sor.) debentures.
The Council will also receive bids for $11,950
25-year local impt., sewer,
$9,650 25-year water-works-ext. and $10,370
20-year granolithic sidewalk
5% debentures.
received until
NORTH
■
was
SELKIRK,
Sept. 9 the question of issuing $55,000 high-school-construction debentures
will be submitted po a vote, it is stated.
*
fire-engine
Sask.—DEBEN¬
TURES AWARDED IN
PART.—Reports state that this district recently
disposed of $60,000 of an issue of $105,000 (unsold portion of the
$175,000)
5% school debentures to Hanson Bros, of Montreal. Due
$2,000 yearly
from 1914 to 1943," inclusive.
The purchaser is now offering them to in¬
vestors at a price to yield 6H%.
election will be held Sept. 17 to vote on the question of issuing $18,000
debentures.
tures dated Jan. 1
of Regina at par.
a
.
DISTRICT,
NEEPAWA, Man.—DEBENTURE ELECTION.—According.to reports,
ORANGEDALE
i
questfekr
ST. MARY'S, Ont .—DEBENTURES
DEFEATED.—The question of
issuing $8,000 Collegiate Institute gymnasium-construction
debentures
defeated, reports state, at a recent election.
electric-light-system-improvement
NORTH
■
was
This district has disposed of an issue of
$20,000 6%
It is stated, to C. H. Burgess & Co. of Toronto.
an
Aug. 20
•
ST. JAMES SCHOOL DISTRICT NO.
7, Rural Municipality of
Assimboia (P. O. Kirkfield
Park), Man .—DEBENTURE ELECTIONJ—
The question of
issuing $125,000 site-purchase and construction debentures
will be submitted to a vote on
Sept. 13.
once
MELVILLE
9/, p. 257)
of raising $4,640 to purchase
LUMSDEN,
received at
.
ROSTHERN, Sask.—LOAN DEFEATED.—On Aug. 21 the
The
Board
of
Chosen
Freeholders of
the
County of Essex, New Jersey, invites proposals
the
purchase of $150,000 00 Plank Road
Bonds, In denominations of $1,000 each, bearing
interest at the rate of 4H per centum per
annum,
for
H0DENPYL, HARDY & CO
Bolger,
Messer
&
Willaman
MUNICIPAL BONDS
14
Wall St., New York
Legal for Savings Banks,
Postal Savings and Trust Funds.
Railway, Street Ry., Gas&Elec. Light
{SECURITIES
SEND
FOR
29 South La Salle
LIST.
St.,
CHICAGO
payable February 1 and August 1, principal and
interest
payable in gold, bonds dated August 1,
1913, maturing August 1. 1953.
The bonds will bear Interest from August 1,
1913, and the purchaser must pay the interest
accrued to date of delivery.
Sealed proposals
will be received by the Finance Committee of the
Board of Chosen Freeholders of the County Of
Essex, iNew Jersey, at a meeting to be held by
said committee at the Freeholders' Room, in the
Court House at Newark, New Jersey, on
THURSDAY. SEPT. 11,
at eleven o'clock a.m.
Acts
as
Girard
Executor,
Trustee,
Administrator,
Guardian, "
Trust Company
PHILADELPHIA
Chartered 1836
Receiver,
Registrar
Transfer
and
Agent.
CAPITAL and
SURPLUS, $10,000,000
Interest allowed
on
1913,
•
Each proposal shall state the amount of the bid
in words and figures, and must be accompanied
by
deposits.
E. B.
Morris, President.
certified
check for an amount equal to one (1)
of the amount of the bid, which shall be
applicable on account of the purchase money of
bonds, and forfeited by successful bidder who
afterwards fails to take the bonds.
Copies of pro¬
ceedings will be furnished to successful bidders, but
proposals mu?t be unconditional.
The Board of Chosen Freeholders of the County
of Essex reserves the right to reject any and ajl
proposals, if, in its judgment, the interest of the
county requires such action.
Bonds will be en¬
graved under the supervision of and certifed as
to their genuineness by the United States Mort¬
gage & Trust Company, in the City of New York,
and will be ready for delivery Sept.
18, 1913.
By order of Finance Committee.
AMOS W. HARRISON, Chairman.
per cent
FINANCIAL
STATEMENT
._
Light Offices
Low Rental
OF
ESSEX
CO,
Assessed Valuation (1913)
$606,567,159 00
Total Indebtedness, including
•«
this issue
14,121,893 27
Sinking fund
_r
2,918,110 00
Population of
Essex County
______
(1910)
512,886
136-138-140 FRONT STREET
BOND
CALL.
Block Front, Pine to De Peyster
St., New York
City
Formerly occupied by Federal Sugar Co.
Modern
building; good elevator service
of
New
Orleans, La.
BOND CALL
September 1st, 1913.
Public notice is hereby given that the following
Improvement Certificates of the City of
Public
Apply
on
premises
or
to
New Orleans will be paid at this office on the first
day of October, 1913, with interest to said date.
Issue of 1912—Series A—Nos.
Issue of 1912—Series B—Nos.
Issue of 1912—Series C—Nos.
Issue of 1913—Series A—Nos.
Cammann, Voorhees & Floyd
84
William Street, .New York
Issue of
,
19l3---Series B—Nos.
Issue of 1913—Series C—Nos.
numbers inclusive.
153 to 277
2 to
3
3
to
20
1
to
145
1
to
10
1 to
35
All
4. G. RICKS,
«
Commissioner of Public Finance.
@FedFRASER