Full text of Commercial and Financial Chronicle : September 8, 1906, Vol. 83, No. 2150

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

Entered according to Aot o f Congress, In the year 1906, by W il l ia m B. D m C o m p a n y in the offloe of Librarian o f Congress,Washington, D ,C

SATURDAY,

VOL. 83.

SEPTEMBER

C L E A R IN G S — FOR A U G U S T , S I N C E J A N U A R Y

1906.

1905.

1906.

1905.

NO. 2150.

1 Inc. or
! Dec.

1 1906.

Week ending Soptemlxr 1.

Eight Months.
Inc. or
Dec.

1906.

A N D FOR W E E K E N D I N G S E P T .
I

A ugust

Clearings at—■

1

8,

1906.

1905.

Inc. or
Dec.

1904.

1903.

$
$
S
$
S
S
%
S
$
%
%
S ,8 3 3 .2 0 1 ,0 9 6 6 ,9 8 0 .7 6 4 ,9 2 0 + 2 6 .5 6 9 ,1 8 2 ,0 7 1 .1 0 3 6 0 .7 0 4 .4 0 3 ,7 8 2 + 14.0 2,175,188,935 1 ,6 6 0 ,1 7 7 .45S + 3 1 .C 1 ,179,331,61:
9 74 ,730,325
N ew Y ork __________
+
10.0
+
13.6
146,859,74^
131,410,392
6
0
5
,2
6
7
.7
5
0
+ 11>
107,878,981
102,219,190
5 50,279,351
5 .0 9 5 ,7 9 7 ,9 5 2
4 .484.793,271
P h ila d e lp h ia ............ - 2 0 6 ,1 8 5 .0 6 3
— 2 .4
1 .7 7 3 ,0 0 4 ,8 2 3
45,524,752
2 1 1 .3 1 8 .3 5 0
1 .6 4 7,33 2,97 6
+ 7.6
41,986,665
35,239,583
— 7+
3 9 ,8 26 ,7 85
P itts b u rg h ......................
2
2
,1
2
7
,66C
+
17.7
24,701.196
1
0
1
.21
2
.20
9
+
10.6
23.125.00S
1 11.926.118
9 5 2 ,29 7 ,59 4
+ 6+
2 0 ,2 62 ,3 77
8 0 9 .3 1 2 .9 8 8
B altim ore ____________
+
4.0
3
3
.6
6
4
.1
5
9
3
2
.3
5
8
.0
4
3
+
2
4.7
6.714,227
5.8S6.872
2 5 S .672.371
2 2 5 .63 5 ,20 8
+ 14.1
5 .2 5 1 ,90C
6 ,14 2,58 8
B u ffa lo _______________
4,063.111
1
8.763.302
+
7.3
2
0
.1
3
3
.3
2
9
1
95,633.555
167.019.821 + 17.1
3 ,916,40( ! + 3 .8
3,397,23-;
3,582,846
W a sh in g ton ................. +
3
7.3
1
7,613.341
2 4 .1 8 9 ,1 2 5
182.895,861
5,152.526
4.302,009 + 19.7
1 39.310.386 + 31.3
3.397.659
3,493,863
A lb a n y -----------------------+ 8.2
+ 6.7
2,431,935
3 ,115,437 — 22.0
14.505.832
1 3 .4 0 0 ,5 7 0
132.503.401
124.150.5S1
2 ,8 0 9 ,50C
R o c h e s t e r ____________
2,607,261
1,441,892
+
13.9
+
13.8
8 .6 2 9 .4 1 6
7 ,5 7 8 ,3 6 6
6 9 ,3 3 0 .3 1 8
6 0 ,9 1 1 .2 4 9
1,952,398
1,722,971
+ 1 3 .4
1,625,117
S cra n ton ...................
+ 8.7
5 ,9 8 0 .6 7 3
1,185,945
1,283,367
5 6,7 72 ,8 23
4 9,2 59 ,2 70 + 15.3
— 7.6
965,045
1 ,113,936
S y ra cu se . . ...................
6 ,5 0 2 ,9 2 8
+
11.3
+
13.5
1,011,192
4 ,8 2 0 ,5 8 3
4 4 ,5 3 9 ,6 6 6
3 9 ,2 3 6 ,1 5 3
1.171,771
+ 15.8
880,478
W ilm in g to n . .................
5 .3 6 4 .6 5 3
949.947
1,078,221
4 .4 8 6 .6 6 8 + 19.6
4 4,277.671
37,026,574 + 19.6
907,238
1.042,681
— 3.3
R e a d in g ............ ..............
5 ,3 6 5 ,8 6 3
4
.1
5
8
.9
4
6
+
7.2
3
3
,2
0
3
.8
1
2
+ 9.3
907,895
800,065 + 13.5
812,903
4.45 9.30 3
3 6 ,2 8 1 .7 6 5
888.145
W ilk e s-B a rre . ............
972,115
4 .5 5 3.33 6
3 .1 7 9 ,9 1 5 + 40.0
3 5 ,1 3 6 .6 6 0
2 5,9 48 ,1 92 + 39.8
697,237 + 39.5
829,562
W h eelin g . W . Y a ____
668 ,19 4
+
11.4
+
17.7
2 .2 5 5 .3 3 6
2 1 .0 6 7 ,3 0 9
17,892.808
557,847
508,400
2 .5 1 2.88 2
503,817 + 10.7
E r i e __________________
447 ,63 3
325,242
— 6.3
15,596,856 + 12.9
493.212
365,001
+ 35.1
2 .0 1 8 .6 7 0
2 .1 5 3 ,0 2 9
1 7,605,006
415,992
G r e e n s b u rg __________
+
16.3
+
13.4
459,552
1.95 0,99 8
18,147.064
15,998,924
339,922
2 .2 6 8 .9 2 9
430,511
+ 6.7
C h e s t e r ______________
4 433 ,11 7
2 .0 4 9 .1 0 0
— 2 .8
1 7,924,700
17.013,900
+ 5.4
349 ,10 0
369 ,80 0
398 ,00 0
B in g h a m t o n _________
— 5.6
1.992.100
3 3 2 ,9 0 0
+ 1.9
9 ,7 1 0 ,5 0 2
7,58 2,29 4 + 28.1
231,914
165,521 + 40.1
1.095.727
F r a n k l i n ........................
1.116.174
262,931
2 00 ,33 5
+
12.2
6 ,6 1 8 .0 6 2
5 ,8 6 2 ,1 0 8 + 12.9
797,944
711 ,48 5
F r e d e r ic k ........................;
T o ta l M id d le ........... 9 .8 9 4 .6 5 4 .6 7 0 7 .9 6 6 .1 3 0 ,9 1 2 + 24.2 7 8 ,1 5 0 ,2 8 8 ,2 0 6 6 8,6 2 7 ,4 9 1 ,1 5 3 + 13.9 2 ,4 1 6 ,4 2 2 ,7 6 8 1 ,885,886.032 + 28.1 1,36 7,70 5,74 6 1,159.940,551
5 ,4 6 4 ,1 7 0 ,3 1 7
B o sto n ______________
4 ,9 9 3 ,0 4 1 ,0 0 8
+ 9.4
135,495,904
5 7 5 ,9 9 1 ,8 8 6
118.589,220 + 14.3
+ 8 .8
104,589,828
6 2 6 .56 9 ,17 7
107,417,276
2 5 8 ,87 4 ,50 0
+ 3.8
+ 7.6
5 ,533,300
6 ,097,100
2S.53S.100
2 7 .5 4 8 ,2 0 0
2 4 0 .70 1 .80 0
— 9.2
5 ,04 0,20 0
P r o v i d e n c e __________
5 ,2 2 3 ,3 0 0
1 21.714.840
108,690,131 + 12.0
2,821,224
14.112,230
1 1.196.639 + 2 6.0
2 ,612,197
+ 8.0
2 ,59 5,67 7
H a r t f o r d _____________
2 ,2 9 9 ,4 4 0
8 2 ,2 1 1 ,3 3 5
— 0.7
7 5,726,235
+ 8.6
1,808,437
2 ,701,942 — 33.0
N ew H a v e n _____ _____
9 .6 3 9.20 4
9 .7 0 S .4 0 5
2 ,2 1 0 ,6 6 2
1,978,890
6 ,7 6 5 ,5 9 0
6 2 ,4 6 2 ,2 0 7
+ 7.4
1.339,662
+ 1.6
+ 7.7
1,212,244
6.876,721
5 8,253,127
1,243,836
S p rin g field ____________
1,276,879
1,760,141
6 4 ,5 1 3 ,7 5 8
7 .0 5 6 .1 6 7 + 23.3
55,600,511 + 16.0
1,565,754 + 12.5
P o r t l a n d _____________
S .699.458
1,426,874
1,602,763
5 3.014,403
W o r c e s t e r ____________
+ 1.3
+ 3 .0
6.045,797
5 ,9 6 5 ,6 7 0
5 1.4 57 .2 35
1,144,896
979,224
1,288,343 — 11.2
1 ,320,720
3 1 ,1 7 6 .9 4 3
2,73 9.06 1
+ 17.0
2 3,8 26 ,3 47 + 30.9
600,479
+ 6 .0
Fall R i v e r .. ____ __
566,773
3 .2 0 4 .8 3 5
51 8,548
570,215
+ 5.6
18,986,264 + 14.6
2 .5 3 5.47 4
2 .4 0 1 ,9 6 5
2 1 ,7 5 5 ,6 8 5
482,760
+ 1.2
N ew B e d fo r d _______ .
476,901
347,278
402,046
16,598,686
+ 8.1
+ 6 .4
347,240
— 9-2
L o w e l l _______________
2 .0 0 2 .3 9 2
1 ,8 5 2,24 5
1 5,604,106
367,703
382,553
3 9 9 ,4 6 2
+ 8.2
1 6,208,307
1 6.004.384
1.736.229
+ 1.3
374,694
377.615
— 0.9
430,652
H o ly o k e _____________
1.878,428
446,523
6 5 2 ,9 6 2 ,0 5 7
+ 8 .8
5 ,6 5 7 ,8 9 1 ,1 4 8
+ 9.5
6 ,1 9 2 ,7 0 0 ,9 8 1
T o ta l N ew E n glan d
135,902,234 + 11.6
710 .14 6 .81 6
151,708,737
119,718,890
122,937,586
+ 9.2
C h ic a g o ______________
7 ,2 2 2 ,3 7 2 ,1 2 3
6 ,4 9 8 ,5 9 3 ,8 4 5 + 11.1
179,533,261
183,756,886
8 1 1 ,85 6 ,07 1
— 2.3
8S 6.S28.954
163,581,905
1 63 ,645,926
8 7 4 ,8 1 7 ,9 0 0
23,3 98 ,2 00
C in c in n a t i____________
795 ,18 8 ,45 0 + 10.0
9 1 .1 6 5 ,5 5 0 + 14.3
19,134,650 + 22.3
22,0 05 ,3 00
104.187.250
19,5 75 ,7 00
C lev ela n d _____ _______
+ 6 .8
+ 6.7
14,614,526
6 3 ,5 2 6 ,7 5 2
542,146,231
508 .27 9 ,49 8
14,430,628
15,393,587
6 7.8 35 .1 85
+ 1.3
1 5,719,916
+ 3 .0
10,505,284
D e t r o it _____ ______
434 ,50 6 ,17 7
383 ,40 5 ,38 1 + 13.3
5 4 ,2 6 8 .0 4 4
11,353,808
— 7.5
9 ,140,979
55.893,031
9 ,54 0,30 7
7,524,577
3 8.619.921
3 3 ,9 9 8 ,6 9 7 + 13.6
3 1 5 ,9 3 6 .1 2 9
2 7 4 .2 1 2 .8 3 5 + 15.2
+ 2.8
7,239,421
M ilw a u k e e .................
7 ,322,764
7 ,26 2,97 6
+ 7.3
2 8 ,1 7 7 .6 8 0
+ 9.3
236 ,65 4 ,51 7
2 2 0 ,49 8 ,75 6
6 ,242,160
I n d ia n a p o lis _________
3 0 .8 0 3 .9 0 3
5 ,633,727
6 ,240.635 + 0.02
5 ,514,023
1 69,457,700
C o lu m b u s ________
+ 6.3
4 ,345,800
4 ,040,700
+ 7.5
3 ,8 7 6 ,2 0 0
2 1 .6 6 2 .2 0 0
1 8,687,400 + 15.9
180 ,21 0 ,10 0
3 ,4 0 1 ,0 0 0
T o l e d o ________
+ 6.1
17.802.545
17,484,401
+ 1.8
139.401,515
131.411,037
3 ,36 0,95 3
3 ,342,877
4 ,024,550 — 16.5
3 ,15 3,20 1
P e o r i a _________
12,439,412 — 11.5
9 8,572,559
2 .29 1,90 7
100,221,771
— 1.6
2 ,864,011 — 2 0 .0
2,941,465
10.993.177
2,944,187
— 2.1
G rand R a p id s _____ .
7 0 .6 3 9 ,3 4 4
+ 9.0
1,813,971
9 .5 9 0 .1 3 7
9 .7 9 7 ,9 1 6
— 7.2
1,561,725
7 7,022,611
1,953,558
1,658,521
D a y t o n _____ ______
6 5,5 20 ,3 10
5 6,0 84 ,6 46 + 16.8
1,712,056
2 ,70 0.18 6
7 ,3 5 8,82 3
1,496,764 + 14.4
6 ,6 6 1 ,7 0 6 + 10.5
1,515,973
E v a n s v i l l e ___
1,247,617
7 ,6 5 0.24 7
6 .2 7 5.01 8 + 21.9
5 8,1 70 .1 84
5 3,947,464
+ 7.8
1,197,909
+ 4.2
1.103.815
1,066.535
K a la m a z o o ___
757,958
3 0 .7 7 6 ,9 3 2
2 7 ,1 3 1 .7 3 0 + 13.4
3 .70 4.2S 6
647,052
3 ,3 4 9 ,5 6 8 + 10.6
585,546 + 29.4
563,054
S p rin gfield, 111.. . .
— 4.2
3 ,3 1 4 ,7 0 7
26,919,1411
+ 3 .6
645,901
+ 5.2
3 .1 7 4 .7 9 7
2 7 ,8 9 9 ,2 0 4
613,763
738,871
6 50 .00 0
Y o u n g s t o w n ________
+ 6.2
18.907,294 ! + 1 8 .5
492,615
2 .2 6 0 .5 2 5
2 .1 2 9 ,2 5 8
2 2 ,4 0 1 ,6 6 5
458,5 79
384,748 + 28.0
542,546
L e x in g t o n ____ . . .
+ 3,6
2 2 ,0 7 4 ,5 0 7
457,301
2.42 6,79 4
2,12 5,93 1 + 14.2
471,652
— 3 .0
490,278
2 2.8 71 ,5 56
502,850
R o c k fo r d _______
19,617,421
17,263,659 + 13.6
465,140
2 ,3 1 5 .9 7 7
2 .0 3 3 .6 0 5 + 13.9
+ 26.4
389,684
367,871
331,382
A k r o n __________
1 7,417,100
+ 9.7
492,476
2 .4 4 S .149
1.98 8,80 0 + 23.1
19,108,480
541.000
386,100 + 27.5
619 ,00 0
C a n to n ________
17.956,379
524,321
2.11 8,85 1
1.719,950 + 23.2
— 7.5
522,717
1 6,607,377
373,316 + 40.5
617,246
S p rin gfield. O h i o ____
+ 4.7
13,365,742
12,924,808
+ 3.4
1,632.317
1.558,656
321,958
312.225
303,470
+ 6.1
473,075
B lo o m in g to n ______ .
14,199,617:
+ 8 .4
319,426
1,597,176 — 10.0
398,954
1.437.425
15,388,538
402,060 — 20.6
37 5,828
Q u in c y .
___
1,373,754
11.839,127 + 10.8
1.257,991
+ 9.3
• 13,113,248
278.030
273,448
230,000 + 20.9
347,743
D e c a t u r _________
10.730,816
+ 5.7
363.717
1.659.893
1.436.216 + 18.4
11,343,895
338,913
289,071 + 17.2
282,874
M ansfield________
10,832,721
+ 9.2
378,221
1.493,047
1.29 5,48 0 + 15.3
11,832,196
179,843
298,373 + 26.8
292.529
J ack son v ille. Ill .
8 ,7 7 5,33 4
+ 6.2
9 ,2 0 0 ,8 5 4
+ 4.8
216,679
281,832 — 23.1
280,182
1.192.838
1,122,836
231,618
J a c k s o n ________ .
— 0.5
7,841,476
+ 6.0
238,000
205.000 + 16.1
186,935
958,278
147,044
9 62 ,9 3 6
8.308,691
A nn A r b o r ____________
3 ,8 1 3,30 6 + 13.4
494,563
82,111
84,143
4,322,901
6 5,000
425,633 + 16.2
6 3 ,0 6 4
+ 2.5
F o rt W a y n e . a ___
3 .3 3 6,48 7
637,441
2 0 .5 7 4 .6 6 0
2 6 ,1 7 5 .7 7 5
— 9.6
3 ,6 9 2 ,8 4 6
811,781 — 21.5
S ou th B en d a . .
2 .1 8 9.61 3
349,534
10.122,398
305,841 + 14.3
14.904.527
1 ,5 6 9,91 5 + 3 9 .5
T o ta l M iddle W e s t . 1 .287.916.867 1 .1 8 0 ,6 5 7 ,3 9 2
9 ,4 9 0 ,5 6 7 ,7 4 2 + 10.5
263,5S8,369
+ 9.1 10,491 .4 89 ,0 56
— 0 .3
2 64 ,388,418
2 44 ,380,235
2 40 ,9 7 4 ,9 3 8
San F r a n c is co ______
1,16 5,95 0,09 2
+ 1,6
18S.465.610
1 62.338,490 + 16.1
1,18 4,26 4.40 3
32,8 77 ,5 05
‘ 44,000,000
39,1 22 ,8 29 + 12.5
31,3 77 ,2 83
L os A n g eles_________
310 ,74 7 ,92 0 + 21.3
9 ,016,772
4 6.197.179
3 7 7 .06 5 ,98 0
+ 8.3
4 1.6 89 ,8 33 + 10.8
8 ,324.919
5,716,521
5 ,7 9 1 ,2 8 4
S eattle _
+
67.1
3 8,836,524
+
50.6
182.958.068
305 ,64 3 ,18 3
7,809.066
4,286,072
2 5,7 93 ,5 87
3 ,9 5 1 ,3 4 0
4,995.181 + 56.3
P ortlan d .
___
+
19.3
140,608,205
2 2,5 81 .9 06
17,227.295 + 31.1
167,721,613
4,514,523
3 .416.166
3 ,873,803 + 16.5
3 ,1 6 8 ,5 8 5
Sait L ak e C i t y . ______
2 0,897.292
179,135,274
125,895,248 + 42.3
19,996,331
+ 4.5
3 ,74 7.09 8
4 .069,070
— 7.9
2,181,761
2 .7 3 7 ,3 3 7
T a com a .
16,178,597
127,674,802
101.078.396
+
26.3
1 3,468,185 + 20.1
3 ,436,866
1,907,664
3 ,11 1,51 6 + 10.4.
1,809,254
S p o k a n e ______ _.
9 7,8 07 ,9 14 + 3 9.5
3 ,73 4,33 7
1.938,414
17.760.308
+ 44.5
136.470.889
2 .808.636 + 33.0
12.290,671
1 .973,480
H elena ___ . .
2
2,7
98
,1
03
—
2,2
+
13,4
3.38 0.80 7
955,819
888,473
— 0 .8
895,664
3 .4 5 6.14 5
2 5 ,9 5 9 ,6 3 5
744,216
! a rgo ________________
17.818,459 — 10.6
1,832.582
431,882
2 ,2 3 7,39 2 — 18.1
3 4 6 ,111
15.926,184
— 5.8
458,357
395,114
M ou x F a l l s _________
1
1,9
48
,2
66
!
9
,1
5
0,41
7
+
30.6
1.687.722
1.213,338 + 3 9.0
236,001
303,253
24 7,080 + 22.7
176.904
O a k la n d . .
15.663,586 N ot included
in total
6 2 ,0 7 2 ,772|Not in clu d ed in total.
3.420,949 N o t in clu d ed in total
San J o s e _____________
tota
l.
N
ot
inclu
d
ed
in
total
4 .67 5.99 8i N ot in clu d ed in
1.748.581
376.108 N o t inclu d ed in tota l
1
T o t a l P a cific ______
2 ,5 3 1 ,8 1 0 .2 2 9 :
2 ,1 7 4 ,8 1 2 .8 2 2 + 16,4
357.818.527
2 99,711,267 + 19,4
5 3,9 22,034f
7 7,882,270
67,9 07 ,0 63 + 14.7
5 2 ,1 24 ,7 97
K ansas C i t y ______ _
111.506,128
754,463,834 + 11.0
837,109,5501
101,097.701
+ 10.3
2 3,601,270
23,5 04 ,7 40
+ 0.4
2 2 ,9 10 ,1 16
2 0 .4 7 8 .7 0 7
M in n e a p o lis . . .
67,648.092
5 18,958.494 + 12.3
5 83,055,014
5 9.0 61 ,0 18 + 14.5
13.862.959
13,963,648!
13,766,147 + 14.3
11,373,961
O m a h a _______
40.110.187
287 ,01 7 ,72 0 + 14.3
+ 9.3
3 28 ,055-225
8 ,132.587
7 ,700.170
+ 5.6
7,326,156
3 6.524.735
7 ,2 8 2 ,0 9 7
S t. P a u l............ .............
206,585,113 + 24.2
3 4.003.157
6,449,8481
2 56,655,123
2 5 .8 9 7 ,9 6 5 + 31.3
5,881.231
5,415,780 + 19.1
4 .8 6 6 ,7 2 6
D e n v e r _______________
2 09,178.268
2 8.538.950
220 ,20 6 ,12 2
+ 5.3
2 5,9 07 ,3 32 + 10.3
6 ,189.945
5 ,442,786 + 13.7
4 ,316.807
4 .792,476
B r J o se p h . .
20.097,003
154.715.003 + 12.7
J74,403,061
4,600.000
3 ,6 8 9 .3 2 8 + 24.7
4,731.652
17.766,018 + 13.1
4 ,57 8.58 9
Des M oines .
__ __
9,668.842
86,707,561
9 1,685,506
+ 5.7
2 ,10 0.00 0
9 ,7 4 6,27 8
— 0 .8
+ 5 .0
2 .05 7.86 5
2 ,0 0 0 ,0 0 0
1.974,814
S iou x C it y ____ .
6.735.761
55.486,7381 + 12.2
6 2,2 64 .9 32 !
6.31 9,48 9
1,524,500
+ 6.6
1,381,218 + 10.4
1.136,799
1,039,891
W ic h it a ______________
5.22 7.97 0
36,636.017!
+ 5.2
+ 13.4
3 8,541,365
1.009,872
4,611,041
1.052,844
1.047,685
+ 0.5
494.374
D a v e n p o r t__ .
3.675.943
2 9.273.952 + 21.7
867,576
844,867
3 5,6 15 ,5 98
+ 2.7
933.268
3.12 9,83 9 + 17.3
827 .86 6
T o p e k a .. .....................
3.316.233
30.195,7501
- 2 .0
691.202
847.456
2.30 2,56 0 + 44.0
29,594.681
406,046 + 70.2
1.468,297
C olora d o Springs . . .
2.765,597
23.010.687
2.034.510
2 4,227.073
+ 5.3
+ 5.0
600.0001
565,790
+ 6 ,0
429.139
368,733
C edar R ap id s _______
16.984.383! + 13.5
1 976.825
+ 2.8
19.283.043
404,443
427.755
1.923.503
— 5.5
331,602
P u e b lo ..........................
2.083-859
13,735,780 + 17.8
+ 8,6
16,180.242
1,918,660
438,402
319 ,79 0 + 3 5 .5
F rem on t .
I 307.462
7.484,626 + 28.0
9.57 8.16 9
1.112,590 + 17.5
271.339
236 ,17 2 + 14.9
25,7952
228,390
L in coln . . . .
4.771.835 N ot Included
In total
19.071.144 N ot InclW ded irn total.
1.216,086 N o t included in total
Total oth er
estero
338.712,009
2,430.433,9261 + 1 2 ,2
299,953,239 + 12.9
2,72 6,45 3,70 2
70,887,604
66,7 48 ,2 74
+ 6,2
6 6 ,0 32 ,8 67
5 9 ,7 7 5 ,0 1 3
S t. L o u is . ...................
1 ,9 1 0 ,6 4 6 ,4 2 s 1 + 1.4
224.124.245
214,345,402
1,930.835,642
+ 4.6'
46.9 10 .2 50
+ 0 .6
5 1 ,2 62 ,5 03
46,6
53
.8
16
5
3
,4
83
,8
07
New O rlea n s.
66.539.659
622,200.763
608.313,595
+ 2.3
64,061.134
+ 3 .9
15.406,712
12.195.016
14.016,306
+ 9.9
1 0.300.616
L o u i s v il le .................
49.337.698
47.701.401
400.133,877
+
9
.0
;
436.107.738!
+ 3.3
12.046.391
11.207,244,
10.172,022
10.697,093 + 12.6
H o u s to n .........................
37.079.372
204.137.475! + 39.5
2 4.053.337 + 54.2
284.276,0081
10.096.622
9 .5 6 6 .4 0 0
9 ,857,112
+ 2.4
5 ,830,943
G alveston
24.789.000
1 6 9 .05 4 .00 0 ’ + 13.2
2 3.3 72 .0 00
191 .309 000
+ 6.1
6 .30 0.00 0
2.81 + 500
5 ,2 6 0 .0 0 0 + 19.8
4 ,5 2 8 .5 0 0
R ich m on d .
______
23.190.551
170.115.876
+
19.6
199.856,436;
+
17.5;
19,395.710
4,592,854
4 .415,646!
3 ,7 2 5 ,8 5 0
3 ,8 7 3 ,4 8 6 + 18.6
Savannah
15.223.797
119.651 941! + 11.K
15.958,350
133.780.191!
— 4.6
3 .41 8.78 5
5 .29 9,06 5 — 16,6
4.043.094
2 ,35 4,85 3
M em phis
158,822.432! — 2.1
12.466.251
23.2
16,230,007
155,425,185
2 .37 4,16 0
3 . J6 0 .0 lx — 24.9
2 ,0 5 0 ,4 2 6
2 ,75 0,40 5
A tlan ta .......... . . . .
15..566.402
108,021.801 + 33.9
145,389.064
12.006.189 + 29.7
2 ,1 3 9 .4 7 6
3 002.747
2 ,6 2 8 ,0 5 0 + 14.2
1,983.636,
N ash ville . . . .
12.575.924
1140.854.100
1 0 1.58c .020 + 38.7
12.243.302
+ 2.7
2.798.601
3
.0
6
7
.9
3
l
3
.0 1 7 .8 6 2
2 .68 8.91 2
+
4.1
>»»rt W orth.
1 1.555.652
83.0 « .098! + 11.0
92.262,834
8.85 5.55 2 + 3 0.5
1.328.209
1.202.217
2.420,974
1.915,752 + 26.4
N o rfo lk ........
9.23 6.49 2
62.8
,155| + 21.6 I
1,297.964
7.122,368 + 29.7
76.402.692
1.355.788 + 32.6
1.265.872!
1*797.123
Ht.i
i , '.1 0 5
4.402.697
1.189.726
6 68 .18 8
6 . 156.550
28.5
49 584.956
— 3.411
950.000
1 .8 7 7 ,9 3 J — 4 9 .4 1
B ir m in g h a m ..............
7.759.090
49,4 » .569 + 30.0
6 4 .2 9 3 .0 0 5 1
1.509,416
1.179.528
1.024 .953
6.08 3.77 3 + 27.5
1,292,525 + 2 1 .4 1
Knox rflle
5.414.928
J . 126,678
5,41 7.17 6 — 0.04
41.28 .115 + 17.0
4 8 .3 0 8 .6 9 9 1
1.159.956
1.338,483
1 .0 1 4 .1 0 3 1 + 3 1 .9 1
Jack son ville ____ ____
4.937.286
39.82 .937 + 12.7
44.884,768
579.034
— 6.1
625.257!
5.25 7,09 3
995,122
1.102,175
- -9.7
Charleston .
3.791.338
6 60 .06 8
3 8,05 .877 + 13.7
43.285.909
0 7 4 .4 4 3 1
3.619.652
+ 4.8
723.159
729.887
— 0.9
Chattanooga ............
6 30 .00 0
5.580.575
2 9.80 .775
6 7 4 .4 3 3 1
3.866.581 + 44.3;
43.968,902
910.000
17.6
753.188 + 20.8
Little Rock
4.084.462
32.74 .537, + 19.7
593.276
586,733
3.486.231
3 9 .1 8 8 .0 9 !
+ 17.2
811.237
640.403 + 26.7
Ifnc
16.06 .510 + 13.0
0 3 9 .0 0 0
1.898.915
1 664.008 + 14.1
452.604
362.305)
18.165.263
451.595
+ 0.2j
B eau m on t
..
1.792.721
+ 4.7
1 471 143 + 21.8
13 155.152
12.68 . 53
Columbus. O n. .
1.121.964
173.962
7.74 . 59
+ C.8
886..500 + 26.5
If 589.324
260.000
2 5 1,300
+ 3.5
a
19.68 . 61
7.116.892
4.919.287 + 44.7
1.390.184
52.309.202
1,181,733 + 18.31
W ilm ington, N , C .
1.887.474 N ot Included
In total.
17.497.730 Not Included In total
T otal Southern
512.469.019
116.462.216
102.150.435
+ 8.5
503 .31 3 .45 9 * + 7 . ^
4.73 0.11 0.72 5
4. i
120,171,421
1 16 .70 0 .577
+ 3 .0
Total all
. _____ 13.131.717.903 10,902.728.326 + 20.4 104.882.858.899 9 2.7 9 7 .0 7 7 .4 :\2 + 13.0 3 .10 0.66 1.17 2 2 ,5 3 7 .5 3 2 . .'05 + 2 2 .2 1.968.210.925! 1,737 .9 03 .3 20
O u tsid e New Y'ork.
4 .298.516,812 3 ,9 2 1 .9 6 3 ,4 0 6
+ 9.0 3 5,7 0 0 .7 8 7 .7 9 6 3 2.0 8 2 .0 7 3 ,6 5 0 + 11.2
925,472.237
+ 5 .5 788.879.314, 7 63 .1 7 2 .0 9 5
8 77,355.140,

a X o t Included In totaLs for month and eight months; comparison Incomplete.

nr Table Clearings

by Telegraph and Canadian Clearings on Page 543.

520

THE CHRONICLE.
ANNUAL COTTON CROP REPORT.

We would call attention of our readers this week to
our Annual Cotton Crop Report. It occupies pages
530 to 542 inclusive and contains all the information
any one can need who is interested in the raising, mar­
keting or manufacturing of that great staple.

THE FINANCIAL SITUATION.
Several events, notable in themselves, have made
the week distinguished in Wall Street records. The
matter of chief import was the sale by the Pennsyl­
vania Railroad of approximately one-half of its hold­
ings in the Baltimore & Ohio and the Norfolk & West­
ern roads to a syndicate represented by Messrs. Kuhn,
Loeb & Co.; the report adds that the amount of stock
involved in the transfer is 400,000 shares of Balti­
more & Ohio and 160,000 shares of the Norfolk &
Western. Rumor has it also that the Pennsylvania
road may not unlikely sell the rest of its holdings in
those properties and also its holdings in the Chesapeake
& Ohio. We have no confirmation of these rumors and
are inclined to doubt the sale of the balance of the Bal­
timore & Ohio and Norfolk & Western shares, as we
see no good reason why the Pennsylvania should part
with them at present. The deal, so far as it has been
announced, is to our mind complete in itself, and needs
no addition to the sale of the two properties transferred
to make it workable, but is a natural outcome of ex­
isting conditions and a wise forecast to provide against
certain contingencies.
A special contingency we have reference to is one
we have often discussed. The sale was a need for the
disconnection of the ownership of the two properties
growing out of the claim that under the new Inter-State
Railroad law the relationship that existed was unlaw­
ful; the Pennsylvania and the Baltimore & Ohio be­
ing parallel roads, it could be charged that the alliance
was constructively a combination in restraint of trade.
No railroad will invite litigation, and especially on a
point which is not vital and can be avoided by an or­
derly retreat. There were, too, some features of the
Baltimore & Ohio case which seemed to make it
especially vulnerable to an attack under this provision
of the Statute. It may even now be claimed by the
Inter-State Commerce Commissioners that the trans­
action of sale does not put the alliance outside the law
but merely impedes the operation of the law. That
contention may be assumed, but it will hardly find any
standing in court. It can be argued, of course, that
the firm which is the head of the syndicate is a friendly
party and will do what it can to serve the interests
of the Pennsylvania road. That contention may be
pressed. But the Pennsylvania by its late move has
greatly strengthened its position as a defendant party
in the litigation should any such proceeding be at­
tempted. The Commissioners, to be successful, would
have to meet the greater issue whether or not an owner
of stock can sell his property. So long as our govern­
ment remains what it is in character, that right will
hardly be denied.
Another great gain which the deal consummated
by the Pennsylvania road with the Kuhn, Loeb & Co.
syndicate will confer is the large amount of cash it
will leave the road in possession of. That change in
the situation is important for several reasons. First
of all, it dissipates any possible fears raised from time
to time by market breakers in the ability of the Penn­

[VOL. LXXX11I.

sylvania to successfully manage all its financial engage­
ments made, and to be made, in carrying through to
completion the immense improvements it has entered
upon. It likewise takes away from the bears one big
stick they have often used in critical moments to help
disturb the general stock market; in other words,
Wall Street has gained a degree in the stability of all
values by the transaction. No one, not even the most
timid, can hereafter work himself into a chill because
of the Pennsylvania’s financial status. This transaction
is, however, foremost of all in the advantage it brings to
the company itself. No doubt investors have recently
been growing somewhat timid with reference to their
holdings and with reference to further takings of Penn­
sylvania stock. They knew that the property, in face
of any ordinary contingency, was, with its marvelous
income and vast and varied resources, capable of al­
most working financial miracles; but an inquiry that
would not down was—should liquidating circumstances
overtake our railroads, with these unequaled under­
takings still unfinished, might they not find that navi­
gation was troublesome? What the Pennsylvania has
just done is important in that it suggests the greater
power the road still possesses to meet emergencies.
There is something almost comic in our periodic
monetary fiascos. No other money market in the
world has such complete breakdowns to struggle with,
or anything like them. It is also very nearly as comi­
cal to observe how goodnaturedly our people take
these visitations, and how invariably, almost auto­
matically now, they turn their eyes—not introspectively, to cure the evil by their own wit, but to the
Government for some sort of soothing syrup for relief.
Once having adopted this motherly sort of alliance,
they cannot rid themselves of the idea it has encour­
aged that the “ gray mare is the better horse.” It is,
too, getting to be quite the thing for the source of
nutrition to coy with the public as to the kind or
strength of the relief mixture it shall grant. Formerly
all that the head of the Treasury Department did was
to let out of the Sub-Treasury, and let bank reserve
agents have, the currency the excess of revenue had
extracted from those reserves and locked up in Gov­
ernment vaults. Instead of adopting some device to
make the inflow and outflow at frequent intervals cor­
respond in time and amount, the periodic arrangement
of inflow the first six months of the year and outflow
during the crop-marketing season was in those more
primitive days found to answer best the money market
requirements. The daily Treasury transactions were
then within narrow limits and banks were concerned
almost wholly with domestic affairs and hence their
transactions, too, wereof moderate proportions. To-day
Mr. Shaw or any other Secretary of the Treasury who
may be in power has to manipulate the same old clumsy
Sub-Treasury machine, but with immeasurably larger
units to be handled and adjusted, and likewise with
vastly greater interests dependent upon the policy
adopted. How strange it is that Congress can leave
our money market thus dependent upon the caprice,
judgment or will of one man.
If the public wants light upon the character and
cause of this latest tight money squeeze, it can get
it by examining the Government official figures of
Treasury holdings of cash. Some may be greatly sur-

Se p t . 8 1906.J

THE CHRONICLE

521

prised to learn that the spasm and its continued prog­ for August 1906 over August 1905 in the aggregate of
ress which we are suffering from has been and is the the gross revenue of the New York Central and its
work of the Sub-Treasury law as conducted on the auxiliary and controlled roads in the sum of $1,380,497.
present occasion by Treasury officials. First of all The Pennsylvania Railroad gave out its exhibit of
the Secretary had locked up in the Treasury vaults both gross and net for the month of July. This last
at the start of the present monetary spasm a larger indicates that with the gradual wearing away of the
balance than normal. Assuming that this special effects of the coal strikes the company is reviving its
activity in money began June 1st, we find the Sub- old-time record of large increases. At all events, for
Treasury cash holdings reported on that d$te (June 1) the lines directly operated East of Pittsburgh and Erie
at $316,673,545 in 1906, against $289,248,071 at the an increase of $1,623,000 is reported for the month
corresponding date in 1905, or about 2 7 ^ million in gross earnings and an increase of $760,200 in net
dollars larger, all of which might have been in New earnings. At the same time the lines West of Pitts­
York banks, and had it been, we may assume with burgh and Erie report a further increase of $781,900
confidence that the spasm in money never would have in gross and of $149,300 in net. For the combined
occurred. That is not all. Not only was the Govern­ lines, therefore, the result is an improvement of $2,404,ment holding in its vaults and out of the market on the 900 in gross and an improvement of $909,500 in net.
first of June 273^ million dollars more than it held Additional significance attaches to these large gains
the 1st of June twelve
months previously, but by reason of the fact that the improvement follows
ever since then, and in the face of the devel­ very large increases in the same month of 1905. In
oping stringency, the Sub-Treasury has gone on other words, the July return last year showed
in this work of accumulation, increasing week by j|$2,021,300 increase in gross for the combined lines and
week its cash holdings at the expense of bank $141,400 increase in net, though it is only proper to
reserves until, according to the official figures, say that the addition to the gross at that time reflected
it had in Treasury vaults on September 1 1906 $346,- in considerable part recovery of what had been lost the
664,238, against $303,769,532 on same day of 1905. previous year. In the following we compare the earnings
That is to say, not only was the larger amount (2 7 ^ !: of the lines directly operated East of Pittsburgh and
million dollars) held out of the market at about the time ! Erie for the last six years, this being the only p rtion of
the upward movement in the rates for money started, the system for which we have data for such comparison.
but while these rates were mounting up to 20 L i n e s E a s t 0/
1904.
1902.
1906.
1905.
1903.
1901.
and 30 and 40 per cent the Treasury officials were P i tts b u r g h .
allowing their balances to accumulate and bank re­ G r o s sJeualryn. in g s . 1 2 ,4 0$6 ,8 6 5 1 0 ,7 8S3 ,8 6 5 9 ,4 8S1 .1 0 3 1 0 ,9 9S5 ,4 0 3 9 ,7 7S1 .5 0 3 8 .3 5S1 .1 0 3
O p e r a t in g e x p .
7 ,4 0 8 ,4 5 7 6 , 0 4 1 ,9 6 6 7 ,0 7 0 ,0 6 6 6 ,1 3 5 ,3 6 6 5 , 4 5 1 ,2 6 6
8 ,2 7 1 ,2 5 7
serves to be depleted until the Sub-Treasury was
N e t e a r n in g s
4 ,1 3 5 ,6 0 8 3 ,3 7 5 ,4 0 8 3 ,4 3 9 ,1 3 7 3 , 9 2 5 ,3 3 7 3 , 6 3 6 .1 3 7 2 , 8 9 9 ,8 3 7
holding out of the money market $42,894,706 more
J a n . 1 to J u l y 3 1 .
than it considered it needful to hold a year ago. In GO rpoesrsa et ina rgn ine xgps .. 8 2 ,2 3 3 ,8 1 4 7 2 ,7 5 8 ,7 1 4 6 6 ,1 7 6 ,7 7 9 7 1 ,1 5 0 ,6 7 9 6 3 .1 9 1 ,3 7 9 5 6 ,8 0 2 ,5 7 9
5 8 ,5 6 0 ,9 6 0 5 3 ,7 1 9 ,9 6 0 4 7 ,9 1 8 ,9 8 5 4 9 ,9 0 1 ,8 8 5 4 1 ,9 1 3 ,7 8 5 3 7 ,9 9 8 ,1 8 5
other words, it is obvious that our money market
N e t e a r n in g s 2 3 ,6 7 2 ,8 5 4 1 9 ,0 3 8 ,7 5 4 1 8 ,2 5 7 ,7 9 4 2 1 ,2 4 8 ,7 9 4 2 1 ,2 7 7 ,5 9 4 1 8 ,8 0 4 ,3 9 4
might be enjoying to-day the ease of the summer
season in place of a [stringency that is contracting
legitimate enterprises of all kinds, were this idle42 or
The above noted movement of money to San Fran­
43 million dollars returned to our bank reserves, cisco and the outlook for another unfavorable bank
where it belongs.
statement this week, together with the deficiencies in
reserve shown by some of the individual banks, which
Mr. Bryan’s suggestion of Government ownership caused calling of loans by these institutions, con­
of the railroads of this country does not seem to have tributed to increased activity in money on call, and
been received with a great deal of favor either on the a number of banks which were responding to drafts
part of the adherents of his own political party or from their interior correspondents were compelled to
on the part of the adherents of the dominant party. refuse accommodation to Stock Exchange borrowers.
Senator Daniel of Virginia made perhaps the most apt Gradually a more or less acute situation developed
condemnation of the scheme. He coined a new word which was reflected in the maintenance of high rates
and said that the “ politification” of the railroads would for day-to-day loans and for time contracts on collateral
be the first result of Government participation. Gov­ until Thursday. Then, though the device adopted by
ernment influence would give every man his position. Secretary Shaw of making advances to importing
Every man in the employ of the roads would be hold­ banks in order to facilitate gold imports would not
ing his place through the influence he could exert, and become effective until Monday, the market grew
the men in that service would form a class which easier in the afternoon because of more liberal offer­
would unite to get all the money possible out of the ings from domestic sources, and call money closed at
Government service. It would mean an increase of the lowest of the week.
from one-half to one-third over the salaries the railroad
Money on call, representing bankers’ balances,
men are getting now. He also referred to Virginia’s loaned at the Stock Exchange during the week at
experience in Government ownership, saying that 40% and at 2 % , averaging about 20%; banks and
before the War that old Commonwealth put many trust companies loaned at 6% as the minimum. On
millions of dollars into building railroads and owning Tuesday loans were at 30% and at 8 % , with the bulk
them, building canals and owning them, and he of the business at 10%. On Wednesday transactions
asserted that the State is only just now recovering were at 40% and at 16% with the majority at 25% .
from the disastrous effects of that policy.
On Thursday loans were at 25% and at 2% with the
bulk of the business at 20%; the lower rate was re­
The New York Central yesterday issued its usual corded in the last half hour, when the requirements
monthly return of gross earnings, showing an increase of the day had been satisfied. On Friday transac-

522

THE CHRONICLE.

tions were at 17% and at 3% with the majority at 12%.
Time loans on good mixed Stock Exchange collateral
were quoted, at the equivalent of interest and com­
missions, at 7 % % for sixty and 7% @ 8 % for ninety
days, 7% for four and 6 % % for five to six months;
the supply for the shorter periods came chiefly from
foreign bankers. Commercial paper was quoted at
6 @ 7 % ; for sixty to ninety-day endorsed bills re­
ceivable, 6 @ 7 % for prime and 7 % % for good four
to six months’ single names.
The Bank of England rate of discount remains un­
changed at 3 % % . The cable reports discounts of
sixty to ninety-day bank bills in London 3%%.!
The open market rate at Paris is 2 % % and at Berlin
and Frankfort it is 4 % . According to our special
cable from London, the Bank of England lost £503,777
bullion during the week and held £38,010,988 at the
close of the week. Our correspondent further advises
us that the loss was due mainly to sales of American
coin. The details of the movement into and out of
the Bank were as follows: Imports, £153,000 (of
which £55,000 from South America, £5,000 from
France and £93,000 bought in the open market);
exports, £503,000 (of which £100,000 to Alexandria
and £403,000 American coin sold), and shipments of
£154,000 net to the interior of Great Britain.

[V O L . L X X X II.

the rate rose sharply about one cent per pound
sterling above the figures ruling on the previous day.
Then came a reaction due to a pressure of loan bills,
induced by the maintenance of firm money rates,
followed by a rise influenced by a demand to procure
cover for gold which had been engaged in London for
import hither; other kinds of exchange, including Con­
tinental, moved in sympathy with sight sterling.
On Friday the market was irregular.
Though there were rumors of large intended en­
gagements of gold for import, some reports stating
that from $10,000,000 to $15,000,000 would be se­
cured, the only withdrawals that could be traced
amounted to $10,850,000, including two lots of
$2,015,000 each, reported as obtained from the Bank
of England; one lot of $1,250,000, said to have been
bought in London on Monday, and one lot of
$1,000,000 by the Shawmut National Bank of Boston.
It is thought probable that more gold will be secured on
Monday, when there will be an arrival of the metal
from South Africa at London. The consignment ob­
tained on last Monday is reported to have cost 77
shillings 11% pence per ounce; later in the week the
quotation for bar gold was 77 shillings 11% pence bid,
reflecting urgency in the demand for the metal. The
Bank of France is reported to have raised its premium
on gold during the week and only $400,000 was pro­
cured from Paris.
Nominal quotations for sterling exchange are 4 81%
for sixty day and 4 84% for sight. On Saturday of
last week the market was only moderately active,
with long 10 points lower, compared with Friday, at
4 8025@4 8030, short 5 points at 4 8330@4 8335 and
cables 5 points at 4 8390@4 8395. On Tuesday long
rose 5 points to 4 8030@4 8035 and cables 10 points
to 4 84@4 8405, while short fell 5 points to 4 8325@
4 8330. On Wednesday long declined 30 points to
4 80@4 8005, short fell 40 points to 4 8285@4 8315—
the latter representing the rally by the close— and
cables 25 points to 4 8375@4 8380. On Thursdaylong rose 50 points to 4 8050@4 81, short 75 points to
4 8330@4 8390 and cables 35 points to 4 8410@
4 8420. The market was irregular on Friday with
a rise in short of 20 points, compared with the lowest
rate on the previous day, and other classes of ex­
change were unaltered.
The following shows daity posted rates for sterling
exchange by some .of the leading drawers:

Influenced by more or less acute monetary tension
and by the consequent pressure of foreign loan bills,
also by the light demand and liberal selling of drafts
in expectation of covering with lower exchange, as
the result of drawings against exports of commodi­
ties, the foreign exchange market was unsettled and
lower until Thursday, when there was a sharp recovery
on the announcement that the Secretary of the Treas­
ury would on Monday and thereafter, until further
notice, facilitate gold imports by making advances to
national banks, as was done last April, the money ad­
vanced being secured by such bonds as are accepted
as investments by New York and Massachusetts
savings banks. The Secretary also stated that his
offer to facilitate gold imports would apply to impor­
tations from Australia or any other distant point, but
the importers would be required to file with the
Treasury Department evidence of the purchase of the
metal, giving the date when the gold would be shipped.
Monday was a holiday. On Tuesday the market
opened fractionally higher than at the close on Satur­
F r i .. | M o n .,
T u e s ..
W e d ., I T h u r s ..
F r i.
A u g . 31 \Sept. 3 S e p t . 4 \Sept. 5 1S e p t. 6 S e p t. 7
day of last week because of a demand to remit for
B row n
i 60 days 4 81M
81M
S
I
M
S
I
M
81M
American securities which had been sold in London B r o t h e r s & C o . . . . _ . 1S i g h t . . 4 8 4 M
84K
8414
S4M
84M
B a r in g ,
i 60 d a y s
82
82
81A
S IM
S IM
and had arrived by the incoming steamers. There M a g o u n & C o . . . ( S i g h t . . 44 85
85
S4M
S4M
84 M
B a n k B r it is h
j6 0 d ays 4 82
H
82
S IM
S IM
81M
8K
O
was, however, a prompt decline, influenced by dearer N o r t h A m e r ic a _ .. . . l S i g h t . _ 4 85
S4M
S4M
S4M
B a n k ot
j'6 0 d a y s 4 82
L
S2
S IM
S IM
S IM
. . . ■ ( S i g h t . . 4 85
I
85
S4M
money, and the market was unsettled and lower to C aMn aodniat nr eBa al ___
84.M
S4M
nk
S6 0 d a y s 4
D
j
81
81M
S IM
S IM
. . ( S i g h t . . 4 S4M
A
S 4M I S4M
84M
S4M
the close. On Wednesday still higher rates for call H eoidf eClbo amemh e Ir cc ke e____
l(6 0 d a y s 4 S IM
Y
81M
S IM
S IM
81M
e r & C o ______ . . ( S i g h t . . 4 S 4 M
S4M
S4M
S4M
84M
loans caused a demoralizing fall, which carried sight L ahz ea im
rd
(6 0 d a y s 4 S IM
81M | S IM
S IM
81M
F reres
____
..
(S ig h t ._ 4 S4
S4M | S4M
84 M
84M
exchange to 4 8285—the lowest since December 1903 M e r c h a n ts ' B a n k
16 0 d a y s 4 8 2
82
81M
S IM
81M
o f C a n a d a _________ . . ( S i g h t . _ 4 8 5
S5
84M
S4M
84M
—but there was a rally by the dose, said to be due to
advance information of the intended intervention by
The market closed on Friday at 4 8050@4 81 for
the Secretary of the Treasury to facilitate gold im­ long, 4 8350@4 8360 for short and 4 8410@4 8420
ports; official announcement of the Secretary’s action for cables. Commercial on banks 4 7990@4 80, and
was, however, not made until 4 o’clock in the after­ documents for payment 4 79% @ 4 80%. Cotton fo
noon of that day. On Thursday the market was payment 4 79% @ 4 79% , cotton for acceptapce 4 7990
feverish, with wide fluctuations, especially in sight @ 4 80 and grain for payment 4 80% @ 4 80%.
bills, caused by an effort to adjust them to the new
gold-import point as established through the aboveThe following gives the week’s movement of money
noted action by the Secretary of the Treasury, and ' to and from the interior by the New York banks:
s im

m

m

THE CHRONICLE.

Se p t . 8 1906. j

523

I of iron will have retreated almost to the company
' of the precious metals. There is no substitute whose
$6,152 000 $10,537,000 L o s s S4.3S5.000
C u r r e n c y ..............................................................
750.000
2.600.000 L o s s
1,850.000 production and preparation for practical use is not
G o l d ................. ....................................................
Not merely our manufacturing
S6.902.000 | $13,137,000 Loss $6.235 000 far more expensive.
T o t a l g o l d a n d le g a l t e n d e r s ------------ 1
industries but our whole complex industrial life, so
With the Sub-Treasury operations the result is as intimately built upon cheap iron and coal, will feel
the strain and must suffer re-alignment. The peril is
follows:
not one of remote geologic time, but of this generation.
And where is there a sign of preparation for it?”
Out oj
N e t C h a n g e in
In to
IWc*

e n d in g S e p t.

7 1906.

J F t f * e n d i n g S e p t. 7 1 9 0 6 .
B a n k s ' in t e r i o r m o v e m 't a s a b o v e —
S u b - T r e a s . o p e r . a n d g o l d i m p o r t s ___
T o t a l g o l d a n d le g a l t e n d e r s ------------ 1

R e c e iv e d b y
S h ip p e d by
.V . Y . B a n k s . .V . F . B a n k s .

N e t I n te r io r
M o v e m e n t.

(

B a n k H o ld in g s .

B a n ks.

B an ks.

$ 6 ,9 0 2 ,0 0 0
2 3 .1 0 0 .0 0 0

$ 1 3 ,1 3 7 ,0 0 0 L o s s
2 6 .6 0 0 .0 0 0 L o s s

$ 6 ,2 3 5 ,0 0 0
3 .5 0 0 .0 0 0

$ 3 0 ,0 0 2 ,0 0 0

$ 3 9 .7 3 7 0 0 0 L o s s

$ 9 ,7 3 5 ,0 0 0

The following indicates the amount of bullion in the
principal European banks:
i i
DUMA

!

S e p t. 6 1 9 0 6 .

S e p t. 7 1 9 0 5 .

1 //
G o ld .

,

S ilv e r .

T o ta l .

G o ld .

S ilv e r .

T o ta l.

£
£
£
£
£
£
E n g l a n d . . 3 S .0 1 0 .9 S S
___________ 3 8 , 0 1 0 . 9 8 8 3 5 ,6 9 3 ,S 2 3
----------------- 3 5 .6 9 3 .S 2 3
F r a n c e _ U 6 .1 2 5 .5 5 S 4 2 ,0 3 2 6 7 4 1 5 8 . 1 5 S ,2 3 2 1 1 S .9 7 7 .6 7 9 1 4 4 , 2 9 2 . 1 2 7 1 6 3 .2 6 9 .S 0 6
G e r m a n y 1 3 2 . 9 4 0 . 0 0 0 1 0 .9 8 0 .0 0 0 4 3 ,9 2 0 ,0 0 0 3 4 ,9 3 S ,0 0 0 | 1 1 . 6 4 6 . 0 0 0 4 6 ,5 8 4 ,0 0 0
R u s s i a . . . U 0 .S S 9 .0 0 0 .
5 .9 4 2 .0 0 0 1 1 6 .S 3 1 ,0 0 0 1 1 3 .3 6 7 .0 0 0 !
5 ,5 4 8 .0 0 0 1 1 1 8 .9 1 5 .0 0 0
A us. H u n
4 6 .9 4 3 .0 0 0 1 2 .1 4 2 .0 0 0 5 9 .0 8 5 .0 0 0 | 4 6 ,3 9 1 ,0 0 0 i 1 2 .6 1 9 .0 0 0 1 5 9 .0 1 0 ,0 0 0
S p a i n _____ 15 2 3 9 .0 0 0 2 4 .8 6 6 .0 0 0 4 0 .1 0 5 ,0 0 0 1 4 . 9 2 3 , 0 00! 2 2 ,6 3 9 .0 0 0 ! 3 7 ,5 0 2 .0 0 0
3 , 2 6 8 , 7 0 0 2 7 .S 1 9 .7 0 0
3 .S 4 6 .4 0 0 3 3 .0 0 9 .4 0 0 2 4 .5 5 1 .0 0 0
I t a l y ............ 2 9 .7 6 3 .0 0 0
N e t h 'l ’ d s .
5.52S .O O O
6 .5 9 7 ,S00'
6 , 1 5 1 . 3 0 0 1 2 ,7 4 9 ,1 0 0
5 .6 9 4 ,5 0 0 1 1 . 2 2 2 .5 0 0
3 .2 1 0 .0 0 0
1 ,6 0 5 ,0 0 0 ;
4 .8 1 5 .0 0 0
X a t .B e l e . .
3 .3 S S .0 0 0
1 .6 9 4 .0 0 0
5 ,0 8 2 0 0 0
3 .5 8 4 .0 0 0
S w eden _ .
3 .8 7 9 0 0 0
___________
3 ,8 7 9 ,0 0 0
- .............. 3 , 5 8 4 ,0 0 0
T o t . w e e k 4 0 2 . 7 0 5 . 5 4 6 1 0 7 . 1 9 7 . 5 7 4 5 0 9 ,9 0 3 ,1 2 0 4 0 2 , 2 3 3 . 3 0 2 1 0 7 , 7 6 9 , 1 2 7 5 1 0 . 0 0 2 . 4 2 9
T o t . p r e v .4 0 t i .5 3 3 .4 7 2 1 0 S .2 S 2 .7 1 1 5 1 4 . S 1 6 , 1 8 3 : 4 0 5 , 3 4 8 .0 0 4 1 0 8 .7 8 5 ,1 8 0 .5 1 4 .1 3 3 .1 8 4
4

MR. HILL ON THE COUNTRY’S RESOURCES.
Mr. James J. Hill’s address to the Minnesota State
Fair, on Labor Day, contained some of the shrewd
and original observations on current industrial ques­
tions which are apt to occur in his public utterances.
Mr. Hill assumed on this occasion the role of warning
prophet . His warning is based on two dangers which
he believes to beset industrial America— wastefulness
in its use of the output of metals, minerals and the
forests, and loose and unscientific methods in agri­
culture. Of the first of these two questions Mr. Hill
was able to present a formidable problem for the dis­
tant future. We do not know, however, that it is
any more formidable than the presentation, which
has been made on a score of previous occasions, of
the same problem in the case of other nations. The
most celebrated case in point was Professor Jevons’s
famous “ Inquiry concerning the Progress of the
Nation and the Probable Exhaustion of Our Coal
Mines.” This pamphlet, put forth in 1865 for the
benefit of the British public by an eminent economist,
warned England that within a century exhaustion of
its coal mines was to be expected, predicted that
within half that time the progressive depletion of
England’s coal supply would be raising the cost of
fuel in manufacture toward prohibitive levels, such as
would arrest the country’s industrial progress, and
commended the study of the problem to his readers
as “ of almost religious importance.”
The keen and eager controversy which followed
Professor Jevons’s economic tract is now almost for­
gotten; forty years from the date of his warning
England’s coal supply and the prospect of its present
exhaustion keep no English financier awake at night,
and we are somewhat inclined to think that Mr. Hill’s
very similar warnings will meet a somewhat similar
reception. In the following paragraph he states what,
as a theoretical estimate, is at least extremely inter­
esting:

All this may be theoretically true, assuming produc­
tion, consumption and prices as of to-day to be per­
manent. But Mr. Hill, it seems to us, takes rather
small account of the inevitable periods of reaction
when, by a species of automatic check, the overexploiting of mines and forests, always noticeable in
“ boom times,” ceases because demand itself has
slackened. That at some period in the course of
human events, a time will be reached when the predic­
tions both of Professor Jevons and of Mr. Hill will
be fulfilled, is a proposition susceptible of mathematical
proof. If such a period does not arrive in 1950 or
in 1965, it will none the less certainly arrive at some
later date. But the peril cannot be described as
imminent, and we imagine that the community at
large will comfortably repose in the meantime on the
assumption that, as these necessary industrial products
grow scarce or disappear, invention and utilization
of the other forces of the world will have advanced
so far as largely to supersede them. Indeed, one may
see already, in the plans for opening up new countries,
one important fa ctor of relief to a situation such as
these gloomy prophecies outline. The coal reserves
of Newfoundland on this Continent, and of Central
China on the other have hardly yet been opened up
profitably to industry. Naturally, all such less favor­
ably stationed reserves of fuel would be the first
objective point as the nearer supplies approach ex­
haustion.
Meantime, it is difficult to see how any restriction
on exploitation of these products can be imagined.
Another eminent economist, Professor Nassau W .
Senior, who flourished sixty or seventy years ago,
constructed an elaborate theory to prove that exports
of merchandise, paid for in gold by the markets which
received them, were a waste and loss to the exporting
country. Had they remained at home, they not
only would have provided greater abundance of ma­
terials or food for the domestic community, but would
have lowered the price to the consumer by competing
with other similar products in home markets. This
ingenious theory never made any profound impression,
either on legislators or on the people at large. It
hardly need be observed how foreign it is to the
American view of trade and commerce at this moment.

What Mr. Hill has to say regarding agriculture is
more immediately to the point. Our wheat harvest
of the present year promises abundant supplies, both
for home use and for export. It is not very long,
however, since some good judges of the wheat trade
seriously maintained that our capacity as a wheat
exporter was being rapidly impaired, and that in no
great time we should be brought to take our place
among the wheat importers. In Broomhall’s Liverpool
“ Corn Trade Year Book” for 1904, the review of our
own grain crops of that year led to the positive con­
“ In the year 1950, so far as our own resources are clusion that, since the greater proportion of presentconcerned, we will approach an ironless age. For a day immigrants become consumers rather than pro­
population of 200,000,000 people our home supply ducers of cereals, since good wheat land can no longer

524

THE CHRONICLE.

[V ol. Lxxxni.

be obtain ed fo r low prices, since m ixed farm ing begins $570,010 cam e from passengers and $73,461 ca m e
to replace cu ltivation o f w heat on a wholesale scale, from express, mails and m iscellaneous— indicating
and since, at the sam e tim e, our increased p opu la tion grow th in all directions. It is needless to say that
calls fo r increase o f nearly ten m illion bushels annually the total o f the gross receipts at $19,686,115 is b y fa r
in w heat consum ption , it is to be ex p ected th a t the largest in the com p a n y ’s history. President
the U nited States will lose its place in the cereal ex p ort Jeffery refers to the absence of disturbing influences
during the year and dwells on the im portan t part
trade.
W e k n ow to w hat exten t predictions based on th e played b y the m aintenance of order in prom otin g
short w heat crop o f 1904 turned o u t elusive in the prosperity. H e notes th at the indications at present
ensuing years; this year we m a y h ave an ex p ort sur­ point to equally favorable results in the new or current
plus alm ost in con veniently large. Nevertheless, Mr. fiscal year, b u t says the ou tcom e depends in great
H ill’ s assertion, first, that the cou n try ’ s m ain indus­ measure, if n ot w h olly, on harm onious relations b e­
trial dependence is on cultivation of the soil, and, n ext, tween em ployers and w orkm en, respect for the laws,
th at our farm ers ought to be able to p rodu ce as m uch and freedom from disorders and acts of violen ce, w hich
per acre as is done in the older E uropean producin g have heretofore at tim es disturbed confidence and re­
States, is w orth y o f serious consideration. These ques- tarded the active and successful developm en t o f the
sions h ave, in fa ct, been already m uch debated in the great natural resources o f the tw o States.
W ith earnings so largely increased, the co m p a n y ’s
A gricultural D epartm ent, w hose best w ork during recent
years has been along lines o f inform ing farmers as to incom e statem ent is naturally a v ery favorable one.
im proved m ethods o f m anaging their industry. The But w hat disposition was m ade o f the large in com e ?
appeal w ith w hich Mr. H ill concludes his speech, for W as it used for the purpose of enlarging the divid en d
diversion o f la bor from the overcrow d ed cities to the returns to the shareholders? T h e sam e p o licy was
farm s, deserves som e n otice. T he farm s, as he cor­ pursued as in the case o f so m any well m anaged roads;
rectly says, stretch ou t their hands in vain to the the m on ey was p u t b a ck into the p rop erty — that is,
la b or w hich remains congested in the larger cities, used for its im provem en t and d evelopm en t, w hich is
w ith certain ty o f distress at the first sign of trade the same as saying that it was em p loyed to p ro­
reaction . U n d o u b te d ly, if this surplus la bor could be m ote the w elfare of the territory traversed b y the
m ade effective on the farm , the result w ould be h appy system . A fter providin g fo r the fixed charges, in­
fo r all parties. B u t w hether such consum m ation is a cluding tw o sem i-annual dividends o f 2 J ^ % each u pon
possib ility, we d o u b t. F arm la b or presupposes cer­ the preferred capital stock and contrib utin g $120,000
tain physical qualities w hich n ot all im m igrants or to the R enew al F u n d , there rem ained a surplus from
city laborers possess. It also usually signifies purely the operations o f the tw elve m onths o f $1,306,839.
tem pora ry em p loym ent at the wages a b ove described, O ut of this there was set aside the sum o f $1,000,000
whereas the c ity ’s opportunities are m ore perm anent, for the purchase o f standard-gauge equ ipm ent o f
even if n ot so brilliant for the m om ent. A n d , after m odern design and ca p a city to replace old equ ipm ent
all, does it n ot im press one w ith a sense o f the curious of insufficient cap a city and inadequate fo r econ om ica l
m u ta bility o f industrial fortu n e, th at such an argu­ operation. A further sum o f $150,000 was ap plied
m ent should be addressed to the Am erican people, in part pa ym en t o f the cost o f engine-houses at D en v er
on ly ten years from the tim e w hen the w hole U n ited and P u eblo. The new equipm ent will be o f 30 to 50
States had alm ost b ecom e con vin ced that agriculture tons capa city and the new engine-houses will m eet
was no longer a profession w hich could safely be en­ an urgently felt w ant. T he reader desiring fu rther
gaged in w ith the idea o f profit?
particulars regarding these im provem ents will find
them in the annual report. T he report will also show
w hat is being done for the further developm en t o f th e
T H E D E N V E R & R IO G R A N D E R A IL R O A D .
In the period covered b y the present report the territory tributary to the lines o f the system through
D enver & R io Grande R a ilroad had op p ortu n ity to the building of new branches, feeders and extensions.
show w hat it cou ld do in a year o f norm al con dition s, Details are given there, to o , regarding the standardand the result is v ery gratifyin g. Previou sly the tw o gauging o f additional parts of the system .
States in w hich is loca ted m ost o f the m ileage o f the
system , nam ely Colorado and U tah , had been tram ­
m eled b y strikes and other la bor troubles, and these
operated as a serious hindrance to the grow th and
developm en t o f that part o f the cou n try. T he D enver
& R io Grande naturally suffered from this condition
o f things w ith the other industries o f C olorado and
T it ah, and as a result its gross revenues for 1904-05
w ere on ly $17,031,507 as against $17,036,828 three
years before in 1901-02, while its net earnings also
show ed v e ry little grow th . B u t during 1905-06 the
industries o f the tw o States were once m ore free from
the disturbing features w hich had been such an adverse
influence in the years im m ediately preceding, and as a
consequence gross earnings in th at period increased
from $17,031,507 to $19,686,115, and net earnings
from $6,862,547 to $7,581,943.
O f the total increase in gross receipts of $2,654,607
fo r the tw elve m onths, $2,011,136 cam e from freight,

O bviou sly the im provem ents con stan tly being m ade
conduce to econ om y in operations, and evidence o f in­
creased efficiency is fou n d in an im portan t ad dition
to the average train-load during the late year. In
1904-05 the trains hauled an average revenue load o f
206 tons and an average o f 29 tons o f non-reven u e
freight, m aking a total of 235 ton s. In 1905-06 th e
average revenue load was increased to 220 tons and
the non-revenue load to 32 ton s, a tota l of 252 tons.
Mr. Jeffery makes reference again to the im portan t
p roject w hich the com p a n y has under w ay for the
building o f an independent line under its ow n control
to the P acific at San Fran cisco. T h e W estern P acific
R a ilw ay is the nam e of the new enterprise, whose con ­
struction the D enver & R io G rande, togeth er w ith its
auxiliary, the R io Grande W estern, is prom otin g. I t
provides for a line running 924 miles from Salt Lake
City to San Fran cisco. It is explained as a favorable
feature that this line will have very low grades. T he

Sept . 8 1906.]

625

THE CHRONICLE

m a x im u m gra de w ill b e n o t o v e r 1 % (5 2 .8 fe e t to th e

preferen ces, an in tolera b le situ a tion h a d b een c re a te d ,

m ile) an d w e are to ld th a t 8 0 % o f th e line w ill h a v e a

an d in th e a b sen ce o f th e en fo rce m e n t o f th e In te r-

g ra d e o f n o m ore th an 4-1 0 o f 1 % , o r o n ly a b o u t 21

S ta te C om m erce L a w th ere w as n o w a y in w h ich a

fe e t to th e m ile.
A c tiv e w ork o n th is P a cific C oa st ex te n sio n has b een

co rre ctiv e co u ld b e a p p lie d e x ce p t b y g iv in g th e d irec­

u n d er w a y du rin g th e grea ter p o r tio n o f th e fiscal

T h is insured co n s e rv a tiv e cou n sel an d ch e ck e d the

y e a r, b u t it is sta ted th a t th e sc a r c ity o f la b o r th rou g h ­

sp irit o f reckless riv a lry w h ich h a d p re v io u s ly p re­

tors o f on e roa d a v o ic e on th e b o a rd s o f oth er road s.

ou t the co u n try has reta rd ed p rogress, so th a t less has

v a iled .

been a cco m p lish e d thus fa r th a n h a d b een a n ticip a ted .

fo r less th a n the co st o f th e serv ice w as d is co n tin u e d .

A s a resu lt, th e p ra ctice o f ca rry in g freigh t

I t is th o u g h t th a t la ter o n fu ll fo rce s w ill b e o b ta in e d

T h e old state o f th in gs has pa ssed a w a y , n e v e r to

and th a t th e en terprise ca n b e co m p le te d in a b o u t tw o

retu rn .

yea rs.

s trictly e n fo rc e d , as it sh ou ld h a v e b een fr o m th e first,

T h e q u e stio n , o f cou rse, com es u p w h eth er

T h e In te r-S ta te C om m erce L a w is n o w b ein g

th e p ro sp e cts o f th is n ew line h a v e n o t b een seriou sly

and ev en if th is w ere n o t s o , th e u n w is d om o f th e old

im p a ired b y th e u n fo rtu n a te ca ta stro p h e w h ich o v e r ­

m eth od s has b een so th o r o u g h ly d e m o n s tra te d th a t

t o o k San F ra n cis co a fe w m o n th s a g o.

th e ow ners o f th e p rop erties w o u ld n o t in a n y e v e n t

M r. Jeffery

furnishes a tellin g an d c o n v in cin g answ er to this qu es­
tio n and his rem arks o n th at p o in t are w o rth q u o tin g

con sen t to a retu rn to fo rm e r p ra ctices.
T h e N o rfo lk & W es tern has e n jo y e d w on d erfu l d e­

in full as fo llo w s:

v e lo p m e n t.

It m a y n o t b e o u t o f p la ce to sa y th a t recen t ev en ts in
San F ra n cis co h a v e in n ow ise d is tu rb e d th e con fid en ce
y o u r d irectors h a v e exp ressed in th is n ew line o f rail­
w a y an d in th e a d va n ta g es to b e d e riv e d fro m the
d e v e lo p m e n t o f its lo ca l resou rces, an d th e im p orta n ce
an d v a lu e o f th is n ew arte ry o f com m e rce to th e D en v er
& R io G ra nde sy ste m . F a ith in th e fu tu re o f th e
W estern P a cific R a ilw a y is ju st as s tron g as it w as
b e fo re the San F ra n cis co disaster. T h e c ity w ill be
reb u ilt on fin er, m ore a ttra ctiv e an d b e tte r en gin eerin g
plans. T h e grea t h a rb or w ill co n tin u e to h o ld and
in crease its o cea n co m m e rce ; th e n a v ig a b le w aters o f
th e S a cra m en to V a lle y w ill alw a ys a ttra ct an d sustain
in la n d n a v ig a tio n . San F ra n cis co as a fin an cial centre
w ill m a in ta in her s u p re m a cy o n th e P a cific C oast;
trad e and co m m e rce b y la n d an d w a ter w ill p a y trib u te
in grea ter v o lu m e th a n e v e r b e fo re t o her m erch a n ts,
m a n u fa ctu rers an d citizens gen era lly. T h e soil o f
C a lifornia is as fertile as it w as b e fo r e th e disaster,
the m ines are as p r o d u c tiv e , th e forests are as rich in
tim b e r, and th e oth er v a riou s n atu ral resou rces are ju st
as ex te n siv e an d v a lu a b le.

gra de fre ig h t, w h ich has t o b e m o v e d at v e r y sm all

Its traffic con sists v e r y la rg ely o f lo w -

average rates, an d its su ccess d e p e n d e d e n tirely u p o n
its a b ility to m o v e su ch traffic at a m in im u m c f c o st
t o itself fo r p e rfo rm in g th e w o rk .

T h is d esid era tu m

has b een a tta in ed a n d g rea t an d g ro w in g p r o s p e r ity
has a tten d ed th e e ffo rt.

E a c h y e a r sh ow s som e n ew

record in o p era tin g e fficien cy an d in th e g ro w th o f
traffic and in co m e .

In th e la te tw e lv e

m o n th s alone

th ere w as a fu rth er a d d itio n t o th e freig h t traffic in
a m ou n t o f 3 ,4 1 4 ,2 1 1 to n s , o r 2 1 .5 % , an d an in crease
in th e ton n a g e m o v e m e n t on e m ile o f n o less th a n
7 4 1 ,2 2 7 ,3 0 6 to n s , o r o v e r 1 7 % .

Y e t th is a d d ition a l

w o rk w as d on e w ith an in crease in freig h t tra in m ileage
o f o n ly 7 . 6 % .

T h e resu lt co n s e q u e n tly has b e e n a

fu rth er increase o f 48 to n s in th e a v era g e tra in -lo a d ,
b rin gin g it u p to th e e x tr a o r d in a r y figure o f 579 ton s.
W h a t has b een a c co m p lish e d in th is resp ect w ill a p p ea r
w h en w e sa y th a t in 1897-98 th e tra in -lo a d o f reven u e
freigh t a v era g ed o n ly 355 to n s , an d th a t w as c o n ­
sid ered a v e ry h igh figu re a t th a t tim e .
average lo a d

NORFOLK & WESTERN’S PROGRESS.

has b e e n

en la rged b y

T h u s th e

2 2 4 to n s .

Of

co u rse, as w as sta te d la st y e a r, th e real sign ifica n ce in

T h e N o rfo lk & W e s te rn annual re p o rt com es c o n ­

th is ex p a n sion o f th e tra in -lo a d lies in th e in crease it has

tem p o ra n e o u sly w ith th e n ew s th a t th e P en n s y lv a n ia

m a d e p ossib le in th e earn in g c a p a c it y o f th e train s.

R a ilro a d C o. has d isp o sed o f a large p o r tio n o f its T h e c o m p a n y n o w realizes b e tte r av era g e rates th a n
in terest in th e p r o p e rty . T h e P e n n s y lv a n ia n ever at th e earlier p e r io d , th e av era g e h a v in g b e e n 4.8 1
h eld a co n tro llin g a m ou n t o f s t o c k , b u t it u n d o u b te d ly

m ills p er to n per m ile in 1905-06

ex ercised a d o m in a tin g in flu ence in th e r o a d ’ s m a n a ge­

in 1897-98. T h is im p ro v e m e n t in ra tes , c o m b in e d w ith

m en t in recen t years.
P en n sy lv a n ia w ith
ca n n o t b e d en ied .

T h a t th e c o n n e ctio n o f th e

th e p ro p e rty

w as

a d va n ta g eou s

T h a t con tin u a n ce o f P en n sylva n ia

against 4 .0 4 m ills

th e increase in tra in -lo a d , has w ork ed a w on d erfu l
tra n sform a tion in th e earn ings o f th e tra in s— as a
m a tter o f fa c t

has p ra ctica lly

d o u b le d

th e

sa m e.

p a rticip a tio n in th e m a n a gem en t is n o t essential to

In oth er w o rd s , in 1905-06

its co n tin u e d p ro sp e rity is e q u a lly b e y o n d d isp u te.

per m ile run as against o n ly $1 43 p er m ile run in

T h e p ro p e rty is p e rfe ctly ab le to sta n d alon e u n a id ed .

1897-98.

The

tru th

is,

P e n n s y lv a n ia

associa tion
an d

th e

of

in terest

N o rfo lk

&

& W este rn .

W e s te rn

the

w as

T h e g ro w th in th e r o a d ’ s traffic has b e e n n o less

a w on d erfu l.

T h is g ro w th has b een in p a rt d u e to th e

T h e P en n sylva n ia

a b ility t o h an dle an d m o v e traffic th u s c h e a p ly , and

o u t o f it as th e N o rfo lk

in p a rt has fo llo w e d fr o m th e ju d ic io u s co n s tr u c tio n

m u tu a lly ben eficial a rran gem ent.
g o t q u ite as m u ch a d va n ta g e

b etw e e n

th e trains earn ed $2 80

I t w as th e p o lic y w h ich th is a ssocia tion

o f new bra n ch es an d feed ers;

in p a rt a lso, it m a y b e

o f in terests represented th a t w as im p o rta n t an d this

ascrib ed to th e n orm a l d e v e lo p m e n t w h ich is co n s ta n tly

p o lic y is n o t lik ely a t th is la te d a te to b e ch a n g e d ,

g oin g on in all pa rts o f th e c o u n tr y .

ev en if the P e n n sylva n ia R a ilr o a d sh ou ld w ith d ra w

th in g else, g o o d m a n a gem en t has h a d its share in the

fro m all ow nersh ip in th e N o r fo lk & W e s tern .

im p ro v e m e n t.

T h e p o licy referred to w as s im p ly a d e v e lo p m e n t o f
th e co m m u n ity -o f-in te re s t

idea

it arose o u t o f

W e h a v e sp ok en a b o v e o f th e fu rth er

increase du rin g th e last tw elv e m on th s alon e o f 3 ,4 1 4 ,2 1 1
in th e ton s o f freig h t m o v e d .

O f th is increase 1 ,3 2 6 ,-

R iv a lr y b etw een c o m ­

863 ton s w as co n trib u te d b y th e coa l sh ipm en ts and

a stage th a t th reaten ed

411,511 ton s b y th e co k e sh ip m en ts; b u t this still

th e necessities o f th e situ a tion .
p e tin g roads h ad reach ed

an d

A b o v e e v e ry ­

T h ro u g h th e p ra ctice

lea ves a v e ry large m a rgin fo r gain fro m oth er sou rces;

o f cu ttin g rates and th e g iv in g o f secret rebates and

and as a m a tter o f fa c t th e gain e x te n d e d to p ra ctica lly

a b solu te ruin to all th e roa d s.

526

THE CHRONICLE.

all classes o f fre igh t.

F o r in sta n ce, th e lu m b er sh ip ­

m en ts w ere a d d e d to in a m ou n t o f 37 9,13 7 ton s;
ore sh ip m en ts in a m o u n t o f 2 6 2 ,6 4 8 to n s,

th e

th e lim e­

sto n e sh ipm en ts in a m o u n t o f 1 7 3,65 4 ton s;

an d th e

p ig iron sh ip m en ts in a m ou n t o f 13 4,70 4 ton s.

[V ol . lxxxiit .

A m o n g o th er th in g s, th e eq u ip m e n t has throughth ese ex p en d itu res b een in creased b y 328 lo c o m o tiv e s
an d b y 15,382 cars.

N o tw ith sta n d in g th e large e x ­

pen d itu res referred to an d th e u n ceasin g efforts o f th e
m a n a gem en t to su p p ly a d eq u a te fa cilities, th e d em an d s

A g g re g a te gross earn ings in th e la te y ea r in creased

o f a b r o a d an d e x p a n d in g in du stria l d e v e lo p m e n t u p o n

n o less th a n $ 4 ,3 9 8 ,5 0 5 , raising th e to ta l fr o m $ 2 4 ,-

th e c o m p a n y ’s resou rces h a v e n o t, it is d e cla re d , at

0 8 9 ,2 5 9 to $ 2 8 ,4 8 7 ,7 6 5 , an d n et earnings in creased

an y tim e b een fu lly m e t.

$ 1 ,9 4 8 ,3 1 6 ,

are b ein g su p p lied , n ew n eed s are d e v e lo p in g .

raising

$ 1 1 ,4 2 3 ,1 4 1 .

A fte r

the

to ta l

a d d in g

fr o m

on

$ 9 ,4 7 4 ,8 2 5

in co m e

fr o m

to

oth er

W h ile e x istin g deficien cies
Ex­

ten sive p la ns are th en ou tlin ed fo r fu tu re a d d itio n s

sou rces, to ta l net in co m e in 1905-06 w as $ 1 1 ,5 8 8 ,4 8 6 ;

and im p ro v e m e n ts .

th e call fo r in terest an d oth er fix ed charges w as o n ly

th e results a ch iev ed in th e c o m p a n y ’s o p era tion s h a v e

$ 4 ,1 3 6 ,1 1 1 , le a vin g an excess o f n et in co m e fo r th e

so en h a n ced its cred it as to su ggest th a t th e in terests

I t is u rg ed w ith m u ch fo r ce th a t

I t is o n ly ten years

o f th e s tock h old ers m a y in th e n o t d ista n t fu tu re b e

sin ce th e ro a d w as reo rg a n ized , and as in d ica tin g h ow

best su b serv ed b y fin a n cin g th e ca p ita l req u irem en ts

c o m p le te ly its p o s itio n has b een tra n sfo rm e d in recen t

fo r fu rth er co n s tr u c tio n , e q u ip m en t an d b e tterm en ts

tw e lv e m o n th s o f $ 7 ,4 5 2 ,3 7 4 .

y e a rs, it is o n ly

n ecessary to p o in t o u t th a t as against b y th e sale o f c o m m o n s to c k o r o f b o n d s co n v e rtib le

gross earnings n o w o f $ 2 8 ,4 8 7 ,7 6 5 , th e a m ou n t in in to c o m m o n s to ck .

A c c o r d in g ly , sh areh olders are-

1897-98 w as n o m o re th an $ 1 1 ,2 3 6 ,1 2 3 , an d as against

asked to a p p ro v e an in crease o f th e a u th orized c o m m o n

n et n o w o f $ 1 1 ,4 2 3 ,1 4 1 , th e a m ou n t at th e earlier

srnck o f th e c o m p a n y b y th e su m o f $ 3 4 ,0 0 0 ,0 0 0 , to

d a te w as b u t $ 3 ,3 5 0 ,0 2 4 .

an aggregate o f $ 1 0 0 ,0 0 0 ,0 0 0 , an d t o s a n ctio n th e crea­

T h e surplus a b o v e charges

at $ 7 ,4 5 2 ,8 7 4 fo r 1905-06 com p a res w ith o n ly $ 1 ,- tio n o f an issue o f b o n d s o f th e c o m p a n y c o n v e rtib le
1 4 3,55 4 in 1897-98.

T h e n u m b er o f passengers ca r­ in to c o m m o n s to ck at th e o p t io n o f th e h old ers du ring

ried on e m ile has risen in th e in terva l fr o m 6 6 ,7 9 7 ,4 5 4
to

1 5 4 ,8 6 0 ,3 1 2 , an d th e n u m b er o f ton s o f freigh t

a term o f y ea rs, th e term s an d p ro v isio n s o f con v e rs io n
and th e tim es an d a m ou n ts o f issu an ce to b e d eterm in ed

ca rried on e m ile fro m 2 ,3 0 1 ,3 1 2 ,7 4 4 t o 5 ,0 1 1 ,4 6 6 ,5 6 3

b y the b o a rd o f d ir e c to rs .

ton s.

in this p ro p o s itio n an d th ere seem s g o o d reason to>

T h is e x p a n sio n in traffic an d reven u es ex p la in s th e
need fo r co n s ta n t su pplies o f n ew ca p ita l, n o tw ith ­

T h ere is m u ch t o c o m m e n d

th in k th a t a p p ro v a l w ill b e g iv e n t o it b y th e share­
h olders.

sta n d in g th e large a p p rop ria tion s m a d e ea ch y ea r ou t
o f reven u es t o m eet th e calls fo r fu n d s.
y e a r $ 2 ,9 5 0 ,0 0 0

In th e la te

T H E C H IC A G O & N O R T H W E S T E R N R E P O R T .

a ltog eth er w as a p p ro p ria te d in this

A m o n g ra ilroa d p rop erties in th e U n ite d States the-

w a y o u t o f in co m e — $ 2 ,2 5 0 ,0 0 0 b ein g fo r b etterm en ts

C h icago & N o r t h w e s t e r n R a ilw a y C o. m a y b e sa id

to p r o p e rty and $ 7 00 ,0 00 fo r a d d ition a l e q u ip m e n t—

t o b e a th in g su ig e n e ris .

an d ev e n th e n a cre d it b a la n ce o f $ 7 60 ,1 76 rem ain ed

trib u tion s m a d e o u t o f earn ings fo r n ew c o n s tr u c tio n ,

C erta in ly in th e y e a r ly c o n ­

o n th e op e ra tio n s o f th e tw e lv e m on th s o v e r an d

im p rov em en ts

a b o v e th ese large sp ecia l a p p rop ria tion s an d o v e r and

u n iq u e, h a v in g fe w , if a n y , eq u a ls.

a b o v e th e 4 %

receiv ed fo r th e y ea r en d in g Ju n e 30

d iv id e n d s p a id on b o t h th e c o m m o n

an d th e p referred shares.

I n 1904-05 th e c o n trib u ­

th a t th e

an d

p erm a n en t

a d d ition s

it

stands,

T h e rep ort ju s t
1906 sh ow s

m o u n t a p p lied o u t o f earn ings in th a t p e r io d

tion s in th is w a y fo r th e b ette rm e n t fu n d an d fo r

o f tw elv e m o n th s— w e m ea n th e a m ou n t sp ecifica lly

a d d itio n a l

set aside fo r th a t p u rp os e— w as n o less th a n $ 6 ,0 0 0 ,0 0 0 -

e q u ip m e n t

$ 2 ,0 0 0 ,0 0 0 ;

in 1902-03

w ere
an d

tio n w as $ 2 ,5 0 0 ,0 0 0 ea ch

$ 2 ,2 5 0 ,0 0 0 ;

in 19 03 -04,

1901-02 th e a p p ro p ria ­ T h is falls b u t little sh ort o f th e su m ch a rg ed against

year;

in 1900-01 th e sum

the y e a r ’s a cco u n t fo r d iv id e n d s d u rin g th e sa m e time-

a llow ed o u t o f earnings w as $ 1 ,5 0 0 ,0 0 0 ; an d in 1899-

(at th e rate o f 8 % on th e p referred s to c k an d 7 % on

1900 th ere w as likew ise a co n trib u tio n o f $ 1 ,5 0 0 ,0 0 0 .

th e

A lto g e th e r, $ 1 5 ,2 0 0 ,0 0 0 o f surplus reven ues h a v e been

after this ex tra o rd in a ry co n trib u tio n , a cred it b a 'a n c e

a p p lie d in th is w a y in th e last sev en years.

still rem ains on th e op era tion s o f th e tw e lv e m o n th s

I t is n ecessary t o b e a r these fa cts in m in d in v iew

co m m o n

s t o c k ), w h ich

in the su m o f $ 2 ,3 1 6 ,6 3 9 .

w as

$ 6 ,4 8 3 ,9 1 3 .

E ven

T h is su rplu s, it m a y b e

o f th e p ro p o s itio n n o w b ein g m a d e to th e sh areh olders

assu m ed, w as e m p lo y e d in m u ch th e sa m e w a y — g oin g

t o sa n ctio n an increase in th e ou tsta n d in g a m ou n t o f

to stren gth en th e p h y s ica l an d fin an cial co n d itio n o f

s to ck o f th e c o m p a n y an d also to a u th orize a large

th e p ro p e rty .

P resid en t L . E . J oh n son

In review in g th e annual re p o rt o f th e p re v io u s y e a r

m akes referen ce to th e m a tter in th e re p o rt and p oin ts

w e m a de som e co m p u ta tio n s t o sh ow th e e x te n t t o

o u t th a t fr o m th e org a n iz a tion o f th e c o m p a n y d o w n

w h ich th is p o lic y h a d b een ca rried in recen t p e r io d s ,

to June 30 1906 th e exp en d itu res fo r ra ilroa d lin es,

and in v iew o f th e fu rth er an d still larger a p p lica tio n s

issue o f co n v e rtib le b o n d s .

b ra n ch es an d e x te n sio n s, a cq u ired or co n s tru cte d , fo r

o f in co m e in. th e sam e w a y in th e la te y e a r, it m a y

se co n d tra ck , fo r sidin gs, y a rd s , station s an d oth er

b e w ell t o recall th ese figures.

tra n sp o rta tio n fa cilitie s, fo r b etterm en ts to th e p ro p e rty

six years en d in g June 30 1905 n o less th a n $ 2 7 ,0 2 2 ,0 4 0

an d fo r e q u ip m e n t, h a v e aggregated $ 4 1 ,3 6 4 ,5 9 8 .

o f n et in co m e h ad b een sp ecifica lly set aside fo r n ew

Of

W e fo u n d th a t in th e

th is su m th ere w as p r o v id e d b y sales o f ca p ita l o b lig a ­

co n s tru ctio n , im p ro v e m e n ts an d p erm a n en t a d d itio n s

tio n s th e su m o f $ 2 2 ,3 9 1 ,4 9 7 , th e rem ain in g $ 1 8 ,9 7 3 ,-

to th e p r o p e rty .

T h e p o lic y o f m a k in g d irect a p p ro ­

101 o f e x p en d itu res h a v in g b een m a d e fr o m surplus p ria tion s fr o m in co m e w as b eg u n in 1899-1900.

In

A d d itio n s to th e eq u ip m e n t in use w ere also

1898-99, b e fo re th e in a u gu ra tion o f th is p o lic y , th e

m a d e th ro u g h the a g e n cy o f e q u ip m en t tru sts u n d er

surplus a b o v e th e d iv id en d req u irem en t w as $ 3 ,635 ,3 25 ;

w h ich th ere h a v e b een issued an aggregate o f $ 1 0 ,5 0 0 ,-

w ith th e d e d u ctio n o f th e a m ou n ts a p p lied fo r im p ro v e ­

in co m e .

000 o f e q u ip m e n t tru st certifica tes, o f w h ich $ 1 ,1 0 0 ,0 0 0 m en ts an d n ew c o n s tru ctio n th e y e a rly su rplu s since
m a tu red and w ere pa id to June 30 1906.

th en has n o t b een so large.

Still it w as fo u n d th a t

527

CHRONICLE

'»'TTTT

S e p t . 8 1906. ]

fo r th e s e v e n y e a r s e n d in g w ith J u n e 30 19 05 t lie a g g re ­

p ila tio n s o n e s te p fu r t h e r a n d g iv e th e resu lts as to

g a te o f th e su rp lu s h a d b e e n $ 1 0 ,5 8 9 ,0 2 7 .

b oth

F o r th e

g ro s s

and

n e t.

It is g r a t ify in g

s a m e p e r io d o f s e v e n y e d rs th e r e h a d a lso b e e n n et

tr e a tin g

th e r o a d s c o lle c t iv e ly ,

r e ce ip ts fr o m la n d g ra n ts a n d t o w n lo t s o f $ 4 ,0 4 7 ,7 4 3 .

rea ch es s u b s ta n tia l p r o p o r t io n s .

to

t h e g a in

fin d
in

th a t,

th e

n et

H o w e v e r , th is d o e s

A lto g e th e r , th e r e fo r e , w e g o t a g r a n d t o t a l o f $ 4 1 ,-

not e v id e n c e th a t th e c o u r s e o f e x p e n s e s has n o t b een

6 5 S .8 1 0 . w h ich in o n e fo r m o r a n o th e r h a d g o n e in to

s t r o n g ly u p w a r d , th e s a m e as in p r e v io u s y e a r s , b u t

th e p r o p e r t y o u t o f in c o m e t o s t r e n g th e n its p h y s ic a l

ra th e r th a t th e a d d itio n t o th e g ro s s w a s o f s u c h m a g ­

an d fin a n cia l c o n d it io n d u r in g th e s e v e n y e a r s in q u e s ­

n itu d e t h a t , n o tw ith s t a n d in g th e h e a v y a u g m e n ta t io n

tio n .

A d d in g n o w

th e resu lts fo r

1 9 0 5 -0 6 , n a m e ly

in e x p e n s e a c c o u n t s , a c o n s id e r a b le a m o u n t o f g a in

( l ) th e $ 6 ,0 0 0 ,0 0 0 s p e c ific a lly set a s id e fo r th e p u r p o s e

w a s s a v e d n e v e r th e le s s f o r th e n e t.

nam ed;

1 6 6 ,6 8 4 m iles o f r o a d fo r w h ich w e h a v e b e e n a b le to

(2 )

th e $ 2 ,3 1 6 ,6 3 9 su rp lu s r e m a in in g a fte r

su ch a p p r o p r ia tio n ;

and

(3 ) th e $ 2 4 6 ,9 5 4 n e t ca sh

In b r ie f, o n th e

p r o cu re figu res o f b o t h g ro s s a n d net

th e re h a s b e e n

re ce ip ts fr o m la n d g ra n ts a n d t o w n lo t s , th e a m o u n t

an in crea se o f $ 1 0 8 ,0 6 8 ,2 4 3 in th e g ro s s e a r n in g s a n d

th a t has g o n e in to th e p r o p e r t y fr o m

an in crea se o f $ 4 5 ,7 5 5 ,1 9 2

th e s e v a r io u s

so u rce s d u rin g th e la st e ig h t y e a r s is in cr e a s e d to o v e r

in th e n et e a r n in g s , p er

th e fo llo w in g , s u m m a r y .

5 0 m illio n d o lla r s — th e e x a c t t o t a l b e in g $ 5 0 ,2 2 2 ,4 0 3 .
W it h th e a id o f su ch resu lts th e fin a n cia l c o n d it io n
o f th e c o m p a n y is b e c o m in g e q u a lly u n iq u e .

The con­

s t r u c t io n e x p e n d itu r e s fo r th e la te y e a r w e re $ 9 ,4 4 4 ,0 2 4
b u t t o d e fr a y th e c o s t $ 6 ,0 0 0 ,0 0 0 , as w e h a v e a lre a d y
se e n , w a s ta k e n d ir e c t ly o u t o f e a rn in g s .

n o less th a n $ 3 ,8 6 2 ,0 0 0 d u rin g th e y e a r , a n d th is f o l­
lo w e d sm a ll d e cre a se s in b o t h th e y e a r s im m e d ia te ly
$ 4 ,8 8 0 ,0 0 0

of

3 j^ %

general

N et

issu es all re m a in u n s o ld in th e tr e a s u r y .

T h e c o m p a n y h e ld a c o n s id e r a b le a m o u n t o f its o w n
b o n d s in th e tr e a s u r y w h e n th e y e a r o p e n e d a n d th is
to

no

less

th a n

$ 1 0 ,8 1 3 ,0 0 0 . B u t it w ill b e r e ca lle d th a t d u r in g th e
y e a r th e o u ts t a n d in g c o m m o n s t o c k o f th e c o m p a n y
w a s c o n s id e r a b ly e n la r g e d .

s t o c k a n d A p r il 2 1906 t h e y w ere o ffe r e d
of

su ch

new

stock

A m o u n t.
1 6 6 ,6 8 4

_ j2 7 2 ,1 0 1 ,0 4 7

2 2 6 ,3 4 5 ,8 5 5

%

+ 2 ,0 7 6
$
+ 1 0 8 ,0 6 8 ,2 4 3
+ 6 2 ,3 1 3 ,0 5 1

1 .2 6
1 3 .2 5
1 0 .5 7

+ 4 5 ,7 5 5 ,1 9 2

2 0 .2 1

B o t h in th e gvoss a n d in th e n e t th e g a in is th e
a rg est e v e r

rep orted

in th is p e r io d

o f s ix

m o n th s.

IT h is fa c t sta n d s v e r y c le a r ly r e v e a le d in th e ta b le w e
n o w p re se n t, c a r r y in g th e r e c o r d b a c k t o 1 8 97 .
G ross E a rn in g s.
Y ear.

Y ear
G iv e n .

1 to J u n e 3 0 .
S
1 8 9 7 - 4 0 5 ,0 0 3 ,7 3 1
1 8 9 8 - 4 6 0 ,5 2 8 ,1 3 0
1 8 9 9 - 4 8 9 ,5 0 9 ,7 6 5
1 9 0 0 - 5 7 7 ,1 4 9 ,6 6 4
1 9 0 1 - 6 3 8 ,3 3 4 ,7 9 4
1 9 0 2 - 6 7 0 ,3 9 8 ,9 2 6
1 9 0 3 - 7 2 7 ,9 3 2 ,3 6 7
1 9 0 4 - 7 3 1 ,7 7 4 ,5 3 1
1 9 0 5 - 8 4 7 ,3 3 4 ,2 0 4
190 6 - 9 2 3 ,5 5 4 ,2 6 8

N e t E a r n in g s .

Y ear
P r eced in g .

In crea se or
D ecrease.

Y ea r
G iv e n .

Y ear
P rec e d in g .

S
4 0 7 ,1 6 4 ,4 6 8
4 1 0 ,5 9 6 ,4 4 1
4 6 1 ,9 9 3 ,0 5 8
5 0 6 ,3 6 6 ,3 4 5
5 8 0 ,4 2 1 ,9 5 6
6 3 1 ,4 9 4 ,2 8 0
6 3 7 ,6 9 9 .8 3 9
7 4 4 ,8 6 0 ,1 3 5
7 9 0 ,3 2 1 ,7 5 0
8 1 5 ,4 8 6 ,0 2 5

S
— 2 ,1 6 0 ,7 3 7
+ 4 9 .9 .3 1 ,6 8 9
+ 2 7 ,5 1 6 ,7 0 7
+ 7 0 ,7 8 3 ,3 1 9
+ 5 7 .9 1 2 ,8 3 8
+ 3 8 ,9 0 4 ,6 4 6
+ 9 0 ,2 3 2 ,5 2 8
— 1 3 ,0 8 5 ,6 0 4
+ 5 7 ,0 1 2 ,4 5 4
+ 1 0 8 0 6 8 2 4 ,3

8
1 2 1 .0 5 9 .3 2 0
1 3 9 ,5 8 5 ,7 1 7
1 5 0 ,5 9 9 ,0 7 4
1 8 0 ,7 1 8 ,4 3 7
2 0 6 .2 1 8 .3 2 0
1 0 9 ,9 7 3 ,7 0 3
2 1 8 ,0 2 4 ,0 5 6
1 9 8 .8 0 7 ,5 4 7
2 3 4 ,3 3 3 ,8 1 0
2 7 2 ,1 0 1 ,0 4 7

S
1 1 5 ,4 2 7 ,3 1 8
1 2 1 ,8 9 5 ,6 8 2 ,
1 4 0 ,5 4 5 ,5 3 5
1 5 5 .5 9 1 .4 6 8
1 7 9 ,4 9 5 ,1 4 0
2 0 2 ,2 5 0 ,7 9 7
1 9 8 ,2 5 6 ,8 2 6
2 2 4 .1 5 7 ,4 2 0
2 1 5 .4 1 7 .4 6 8
2 2 6 .3 4 5 ,8 5 5

In crea se or
D ecrease.

Jan

+ 5 ,6 3 2 ,0 0 2
1 7 .6 9 0 ,0 3 5
1 0 ,0 5 3 ,5 3 9
2 5 ,1 2 6 ,9 6 9
2 6 .7 2 3 ,1 8 0
+ 7 ,7 2 2 ,9 0 6
+ 1 9 ,7 6 7 ,2 3 0
— 2 5 ,3 4 9 ,8 7 3
+ 1 8 ,9 1 6 .3 4 2
+ 4 5 ,7 5 5 ,1 9 2

+
+
+
+

O n J u n e 1 19 05 th e sh a re ­

h o ld e rs w ere o ffe r e d at p a r $ 1 0 ,6 0 9 ,2 3 0 o f n e w c o m m o n
m o re

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

m o r tg a g e

c o v e r c o n s t r u c t io n e x p e n d itu r e s m a d e d u rin g th e y e a r ,

fu r th e r a d d itio n in crea ses th e t o t a l

.......

e a r n i n g s ___________

b o n d s w e re issu ed a g a in s t th e b o n d s r e tire d a n d to
b u t th e se

J

1 6 4 .6 0 8
S
i
S
G r o s s e a r n in g s . _ _ _ ( 9 2 3 ,5 5 4 ,2 6 8 8 1 5 ,4 8 6 ,0 2 5
O p e r a t i n g e x p e n s e s ____ _____ .1 6 5 1 , 4 5 3 , 2 2 1 5 8 9 . 1 4 0 , 1 7 0

T h e ou t­

sta n d in g fu n d e d d e b t o f th e c o m p a n y w a s d e cre a s e d

1905.

1906.
'

M ile s o f r o a d

p r e ce d in g ;

In crea se o r d ecrease.

J a n u a r y 1 to J u n e 3 0 .
(1 4 3 r o a d s ).

T r u ly th is is a w o n d e r fu l r e c o r d .

at

p a r,

$ 1 6 ,2 6 7 ,4 0 0

m a k in g

to g e th e r

$ 2 6 ,8 7 6 ,6 3 0 .

N o te .— I n 1897
th e
num ber
ol
road s
in c lu d e d
in
th e
t o t a ls
is
170;
n 1 8 9 8 , 1 7 9 ; in 1 8 9 9 . 1 6 5 ; i n 1 9 0 0 . 1 7 0 ; i n 1 9 0 1 , 1 7 2 ; i n 1 9 0 2 , 1 5 4 ; in 1 9 0 3 , 1 5 9 ;
in 1 9 0 4 , 1 3 6 ; in 1 9 0 5 , 1 4 8 ; i n 1 9 0 6 , 1 4 3 .
N e ith e r th e M e x ic a n r o a d s n o r th e c o a l­
m i n i n g o p e r a t i o n s o f t h e a n t h r a c i t e c o a l r o a d s a r e i n c l u d e d in a n y o f t h e s e t o t a l s .

C o n d itio n s w ere n o t all fa v o r a b le d u r in g th e se s ix
m o n th s o f 1 9 0 6 , a n d y e t in g e n era l t h e y w ere h ig h ly

T h e c o m in g m o n th sh a r e h o ld e r s a re t o b e a sk ed to

s a t is fa c t o r y .

W e n e e d n o t r e c o u n t all th e in flu e n ce s

a u th o r iz e an in cre a se in th e lim it o f th e c a p it a l s t o c k

a n d c irc u m s ta n ce s th a t p la y e d a p a r t in a ffe c tin g re­

issu e t o $ 2 0 0 ,0 0 0 ,0 0 0 fr o m th e p r e s e n t a u th o r iz e d to t a l

s u lts , sin ce th a t w a s d o n e w ith c o n s id e r a b le d e ta il in

o f 8 1 0 0 ,0 0 0 ,0 0 0 (o f w h ich $ 9 9 ,9 1 5 ,7 0 0 h a d b e e n issu ed

o u r a r ticle o f fiv e w e e k s a g o .

J u n e 30 1 9 0 6 ), th e w h o le o f th e a d d itio n a l s t o c k t o
co n s is t o f c o m m o n sh a res.
J u d g in g f r o m th e b a la n c e

th e

s h e e t, h o w e v e r , th e c o m p a n y w ill h a v e n o im m e d ia te
n e e d f o r p u tt in g o u t a n y o f th e a d d itio n a l s t o c k .
had

$ 1 6 ,8 3 5 ,9 1 8

of

a c tu a l

cash

on

June

30

It

1906.

A d d in g a m o u n ts d u e fr o m a g e n ts a n d o th e r so u rces
th e to ta l o f c a s h assets (n o t c o u n t in g m a te ria ls an d
fu e l o n h a n d ) w as $ 2 0 ,1 2 7 ,9 1 4 .

F u r t h e r m o r e , it h e ld ,

as a lre a d y s t a t e d , $ 1 0 ,8 1 3 ,0 0 0 o f its o w n b o n d s in th e .
tr e a s u r y a n d also h eld $ 2 ,3 3 7 ,8 3 7 o f its o w n s t o c k .
I t a p p e a r s , t o o , th a t th e c o m p a n y a c q u ir e d d u rin g th e
y e a r $ 4 ,1 0 0 ,0 0 0 o f th e p r e fe rr e d s t o c k o f th e U n io n
P a c ific R a ilr o a d at a c o s t o f $ 3 ,8 4 0 ,0 0 0 .

T h u s , th ere

w ere o n J u n e 30 1906 ca sh assets a n d a v a ila b le s e c u ri­
ties o f an a g g re g a te o f $ 3 7 ,1 1 8 ,7 5 1 .

T h e c u r r e n t lia ­

b ilitie s at th e sa m e d a te w ere n o m o r e th a n $ 9 ,5 3 1 ,4 0 1 .

c h ie f

GROSS

AND

NET

E A R N IN G S

FOR

T H E H A L F -Y E A R .

S u ffic e it t o s a y th a t

c ir c u m s t a n c e s

w ere

th e

coal

strik es a n d th e fa llin g o ff in th e c o t t o n m o v e m e n t in
th e S o u th .

O n th e P a c ific c o a s t o f

cou rse

th e e a r th ­

q u a k e a n d fire at S a n F r a n c is c o w a s a s e rio u s d is ­
tu r b in g in flu e n ce .

O n th e o th e r h a n d , o u r in d u s tr ie s

r e m a in e d in a s ta te o f g rea t a c t i v it y a n d th e iro n a n d
steel tra d es w ere a lm o s t c o n t in u o u s ly b u o y a n t .

T hen

th e g ra in tra ffic o f th e r o a d s w as h e a v ily in c r e a s e d ,
fo llo w in g la st s e a s o n 's la rg e

and

W e s te r n

roa d s also h a d a la rg e r liv e -s t o c k m o v e m e n t .

h a r v e s ts ,

A n o th e r

fa c t sh o u ld n ot b e o v e r lo o k e d .
tr a n s p o rta tio n

lin es

e n jo y e d

M a n y o f o u r r a ilr o a d
a

g rea t

a d va n ta g e

in

1906, o w in g t o th e m ild w in te r w e a th e r e x p e r ie n c e d ,
c o n tra s te d w ith th e v e r }' se v e re w in te r w e a th e r en ­
c o u n te r e d th e p r e v io u s t w o y e a r s .

T h is m e a n t a c o n ­

sid e ra b le s a v in g in th e e x p e n s e a c c o u n t s ; a n d , b e a rin g
th a t fa c t

R A IL R O A D

u n tow a rd

in m in d ,

n o tw ith s ta n d in g

th e c ir c u m s t a n c e th a t e x p e n s e s ,

th a t

s a v in g , s h o u ld

have

in cre a s e d

$ 6 2 ,3 1 3 ,0 5 1 , w ith an in cre a s e o f $ 1 0 8 ,0 6 8 ,2 4 3 in g ros s

l i v e w eek s a g o t o - d a y w e p r e s e n te d a s t a t e m e n t o f

e a rn in g s, in d ic a te s h o w s t r o n g is th e n o rm a l t e n d e n c y

th e g ro s s e a rn in g s o f U n ite d S ta te s ra ilro a d s fo r th e

o f e x p e n s e s to in crea s e b y rea son o f h ig h e r w a g e s a n d

first h a lf o f th e c u r re n t c a le n d a r y e a r , s h o w in g a q u it e

e n h a n c e d c o s t o f fu e l, m a te ria ls a n d s u p p lie s.

re m a r k a b le

r e co r d

of

im p r o v e m e n t .

T o -d a y ,

by

m e a n s o f la te r r e tu rn s, w e are a b le t o c a r r y o u r c o m ­

W h a t a fa v o r a b le in flu e n ce th e m ild w e a th e r w as is
p la in fr o m

th e e x c e p t io n a l

a m o u n ts o f g ain

in n et

528

THE CHRONICLE.

shown by our monthly compilations in January and
February. Here is the record for each of the six
months. It will be observed that the improvement
in net in the later months has been relatively small.
Net E a r n in g s .

G ross E a r n in g s .

[Mth.

Jan. _
Feb _
M ch _
Apr _
M ay
June.

|I n c . o r D e c .

19 0 5 .

1906.

S

$

1 2 8 ,5 6 6 .9 6 8
1 2 0 ,7 2 8 .6 7 1
1 2 9 ,8 3 8 ,7 0 8
1 0 9 ,9 9 8 ,4 0 1
1 1 5 .3 0 4 ,5 0 6
1 0 0 ,3 6 4 ,7 2 2

1 0 6 ,7 4 1 ,9 8 0
9 5 ,6 2 5 ,9 3 8
1 1 6 ,8 6 1 ,2 2 9
1 0 4 ,5 9 8 ,5 6 5
1 0 5 ,7 8 7 ,0 6 2
9 0 ,2 4 2 ,5 1 3

1

$

4 -2 1 8 2 4 ,9 8 8
4 -2 5 1 0 2 ,7 3 3
4 -1 2 9 7 7 ,4 7 9
4 -5 3 9 9 ,8 3 6
+ 9 5 1 7 ,4 4 1
+ 1 0 1 2 2 ,2 0 9

%

19 0 5 .

1906 .

$
2 0 .4 4 3 8 ,6 7 3 .2 6 9
2 6 .2 5 ,3 3 ,4 8 6 ,6 3 4
11.11 4 0 ,3 4 9 ,7 4 8
5 .1 6 3 1 ,5 4 8 ,6 6 0
8 .9 9 3 4 ,4 1 4 ,2 1 3
1 1 .2 1 ,3 1 ,0 9 0 ,6 9 7

In c. or D ec.

S
S
2 6 ,9 9 6 ,7 7 2 + 1 1 ,6 7 6 ,4 9 7
1 9 ,9 3 7 ,3 6 3 + 1 3 ,5 4 9 ,2 7 1
3 5 ,3 1 2 ,9 0 6 + 5 , 0 3 6 , 8 4 2
3 0 .1 3 7 .5 9 6 + 1 , 4 1 1 . 0 6 4
3 0 ,9 4 6 ,8 4 8 + 3 , 4 6 7 , 3 6 5
2 7 ,4 6 3 ,3 6 7 + 3 , 6 2 7 , 3 3 0

■ N o t e .— P e r c e n ta g e o f in cr e a s e o r d e c re a s e In n e t f o r th e a b o v e m o n t h s h a s b e e n :
J a n ., 4 3 .2 5 % in c .; F e b ., 6 7 .9 6 % in c .; M a r ch , 1 4 ,2 6 % in c .; A p r il , 4 . 6 7 % in c .;
M a y , 1 1 .2 0 % in c .; J u n e , 1 3 .2 1 % in c .
I n J a n u a r y th e n u m b e r o f r o a d s w a s 1 0 0 ; In F e b r u a r y , 101; in M a r ch , 9 6 ; In
A p r il, 9 1 ; in M a y , 9 6 ; in J u n e , 8 0 .

When arranged in groups every group except the
Anthracite Coal group is found to have participated
in the increase as to both gross and net, though the
amounts and ratios of gains vary considerably. The
following indicates the totals of the different groups.
Further below in this article we give a detailed exhibit
classified in the same way, showing the figures for each
road separately.

P R IN C IP A L

[V o l. L x x x m
CHANGES

P e n n s y l v a n i a (2 r d s ) ______ $
C a n a d i a n P a c i f i c ___________
A t c h T o p Sc S a n t a F e _____
S o u th e r n P a c ific sy ste m
B a l t i m o r e Sc O h i o _________
C h i c & N o W e s t ___________
R o c k I s l a n d s y s t e m ________
W a b a s h _______________________
I l l i n o i s C e n t r a l _________ ____
M is s o u r i P a c s y s t (2 r d s ) _ .
S t L o u i s Sc S a n F r a n _____
C h e s a p e a k e Sc O h i o ________
N o r f o l k Sc W e s t e r n ________
E r i e __________________________
U n i o n P a c i f i c ________________
N Y C e n t Sc H u d R i v
.
Y a z o o Sc M is s is s ip p i V a l _ _
C o l o r a d o Sc S o u t h e r n ______
M i n n S t P Sc S S M ________
M is s o u r i K a n s a s Sc T e x a s .
N o r t h e r n C e n t r a l _________
B o s t o n Sc A l b a n v _____ _ _ _
L o u i s v i l l e Sc N a s h v i l l e _____
S o u t h e r n R a i l w a y _________
N a s h v C h a t t a n Sc St L _____
D e n v e r Sc R i o G r a n d e _____
W e s t e r n M a r y l a n d _________
C h ic M il Sc S t P a u l ________
K a n s a s C i t y S o u t h e r n _____
C e n t r a l o f G e o r g i a _________
W h e e l i n g Sc L a k e E r i e _____
M o b i l e & O h i o ______________
C i n e N O Sc T e x P a c ______
D u l u t h M i s s a b e Sc N o r t h ’ n
H o c k i n g V a l l e y ____________

IN

NET E A R N I N G S F O R

I n crea ses.
5 ,6 4 0 ,5 0 0
4 ,4 5 5 ,5 7 4
4 ,3 6 0 ,3 6 8
3 ,6 7 3 ,0 5 7
3 ,6 0 9 ,8 0 8
2 ,4 9 1 ,9 0 2
2 ,3 3 7 ,6 9 8
1 ,9 6 2 ,2 9 2
1 ,9 6 0 ,5 2 8
1 ,9 4 3 ,8 7 0
1 , 6 9 1 ,3 6 1
1 ,4 8 0 ,1 1 0
1 ,1 3 6 , 1 6 2
1 ,0 6 6 , 8 6 1
8 7 4 ,4 0 3
7 7 5 ,7 4 2
6 0 9 ,8 5 3
6 0 2 ,0 6 6
5 8 8 ,4 7 7
5 4 0 ,3 3 2
5 1 0 ,8 0 0
4 7 2 ,1 5 8
4 2 2 ,4 7 1
3 9 9 ,5 7 1
3 9 1 ,6 2 4
3 6 6 ,8 6 7
3 3 9 ,7 5 8
G 3 3 4 to 5 5
3 3 0 ,7 4 7
2 9 4 ,2 6 1
2 7 7 ,5 4 0
2 6 6 ,7 9 4
2 5 2 ,0 3 0
2 4 0 ,3 8 1
2 2 2 ,5 6 9

6 MONTHS.
In crea ses.

P ittsb u rg h Sc L a k e E r i e . .
P h ila B a lto Sc W a s h _______
W e st J ersey Sc S ea S h o r e .
W is co n s in C e n tra l________
T o le d o Sc O h io C e n tr a l___
M ich C en t Sc C an S o u ______
G ran d T r u n k _____________
B ess. Sc L a k e E r ie ________
V a n d a lia _____
Io w a C e n t r a l _____________
C h ica g o Sc A l t o n __________
G u lf & S h ip Is la n d ________
K a n a w h a Sc M ic h ig a n ____
B a n g or Sc A r o o s t o o k ______
L o n g Is la n d _______________
N Y C h ica g o Sc St L o u i s . .
G ra n d R a p & I n d R y ____
C h ica g o Sc G reat W e s t e r n .

$ 21 8 ,0 2 6
2 1 6 ,5 0 0
2 1 4 ,1 0 0
o 2 0 0 ,9 0 0
191,165
1 52 ,80 0
1 51 ,83 4
1 31 ,38 3
1 2 6 ,5 1 2
1 26 ,11 7
1 23 ,28 8
1 20,473
1 16,719
1 13 ,85 3
1 13,200
1 07,190
106,151
1 02,478

T o t a l (54 r o a d s ) _______ $ 4 9 ,5 5 5 ,7 7 9
D ecrea ses.

P h ila d e lp h ia & R e a d in g .. 2/<z$l ,644,731
L e h ig h V a lle y _____________
a 8 2 4 ,006
D elaw are L a c k Sc W e ste rn
5 3 0 ,0 2 9
C en tra l o f N ew J e rs e y ____
a 5 0 9 ,5 7 5
B u ffa lo R o c h Sc P it t s b ____
2 4 1 ,0 9 4
A tla n tic C oast L in e _______
1 48 ,43 5
S e a b o a rd A ir L in e ______ _
1 4 6 ,4 9 4
L a k e S h ore Sc M ich S o u th
1 26 ,11 8
D e tr o it Sc M a c k in a c _______
1 02,185
D ela w a re Sc H u d s o n ______
1 01 ,20 0
P a c ific C o a s t_______________
1 00,771
T o ta l

(1 1

r o a d s ) ________ $ 4 , 4 7 4 , 6 3 8

V T h e s e fig u r e s a r e f o r t h e R a i l r o a d C o m p a n y ; t h e C o a l & I r o n C o m p a n y
r e p o r t s a d e c r e a s e o f $ 8 6 1 ,4 1 5 f o r t h e f i v e m o n t h s .
x O n th e P e n n s y lv a n ia R R . th e n e t o n lin e s d ir e c t ly o p e r a t e d e a s t o f
P i t t s b u r g h Sc E r i e i n c r e a s e d $ 3 , 8 7 3 , 9 0 0 a n d t h e n e t o n W e s t e r n l i n e s i n ­
c r e a s e d $ 1 ,7 6 6 ,6 0 0 .
a C o v e rs fiv e m o n th s o n ly , J u n e n o t y e t h a v in g b e e n r e p o r t e d .

SU M M ARY B Y GROU PS.
G ross E a r n in g s .
S e ctio n or
G ro u p .

1906

N e t E a r n in g s .

1905.

1906.

,

1905.

In c. or N ec.

We now give the detailed statement for the halfyear referred to above. It shows the results for each
road separately in all of the groups.

P . c.
9 .3 3
E A R N IN G S O F U N I T E D S T A T E S R A I L W A Y S J A N . 1 T O JU N E 30.
2 1 .2 0
1 7 .3 1
2 1 .1 9
In c. or D ec.
1906.
19 0 5 .
1906.
1905.
2 4 .6 8
N e w E n g la n d —
S
S
$
$
S
2 4 .1 1
+ 1 1 3 ,8 5 3
: B angor & A roost’k b
3 9 0 ,9 8 4
1 ,3 4 2 ,9 7 7
5 0 4 ,8 3 7
1 ,1 0 5 ,9 7 8
3 7 .0 4
+ 4 7 2 ,1 5 8
B o s t o n & A l b a n y .b .
5 ,4 2 0 ,1 1 2
4 ,9 7 7 ,6 4 1
1 ,2 6 5 ,4 5 1
1 ,7 3 7 ,6 0 9
16 .61
+ 5 ,0 9 1
B o s t o n & M a in e , b . 1 8 ,8 3 4 ,3 2 0
3 ,9 3 4 ,1 0 2
3 ,9 2 9 ,0 1 1
1 7 ,2 6 9 ,5 0 9
+ 1 1 ,2 8 6
B os R e v B & L yn n b
3 4 0 ,4 3 1
1 8 .1 7 9
6 ,8 9 3
2 7 8 ,0 5 3
T o t a l ( 1 4 3 ) - - 9 2 3 .5 5 4 ,2 6 8 8 1 5 ,4 8 6 ,0 2 5 2 7 2 ,1 0 1 ,0 4 7 2 2 6 ,3 4 5 ,8 5 5 + 4 5 ,7 5 5 .1 9 2 2 0 .2 1
— 2 ,2 3 2
7 ,9 7 2
B r id g e ’ n & S a co R _ b
2 1 ,1 2 4
2 2 ,7 3 8
5 ,7 4 0
C en t of N ew E n g .b .
d e f3 6 ,4 6 5
+ 4 ,0 8 1
£ 8 8 0 ,8 5 5
4 1 5 ,3 4 3
d e f3 2 ,3 8 4
4
3
.5
8
M e x ic a n ( 3 ) ___ 1 4 ,8 2 9 .9 4 5 1 2 ,5 8 4 -5 4 1
5 ,6 9 0 ,4 1 5
3 .9 6 3 ,3 0 6 + 1 ,7 2 7 ,1 0 9
N e w L o n d o n N o r th b
— 8 5 ,7 3 1
5 4 2 ,0 1 6
d ef.3 2 ,7 2 5
5 3 ,0 0 6
5 1 1 ,7 0 8
3 5 9 ,5 7 2
+ 3 9 ,3 7 4
R u t l a n d .b ________
1 ,2 6 7 ,8 6 7
1 ,1 4 2 ,2 9 1
3 9 8 ,9 4 6
M I L E A G E . — T h e m ile a g e fo r th e a b o v e g r o u p s is as fo llo w s : N e w E n g la n d ,
5 ,9 7 6 ,4 2 4
+ 5 5 7 .8
T o t a l (8 r o a d s ) . . 2 8 ,6 4 9 ,7 0 2
6 ,5 3 4 ,3 0 4
2 5 ,7 2 3 ,2 6 1
4 ,0 2 2 in 1 9 0 6 , a g a in s t 3 ,9 5 1 in 1905 ; T r u n k L in e s 2 7 ,3 2 4 , a g a in s t 2 7 ,3 0 5 ; A n t h r a ­
c it e C o a l, 5 ,1 3 6 , a g a in s t 5 ,1 3 6 ; E a s te rn & M id d le , 4 ,0 7 9 , a g a in s t 3 ,9 6 0 ; M id d le W e s t ,
k F ig u r e s f o r 1 9 0 6 (b u t n o t f o r 1 9 0 5 ) in c lu d e th e o p e r a t io n s o f th e N e w b u r g
1 2 ,0 6 4 , a g a in s t 1 1 ,9 5 7 ; N o r t h W e s t & N o r th P a c ific , 3 5 ,4 5 5 , a g a in s t 3 5 ,0 1 6 ; S o u t h
D u t c h e s s Sc C o n n e c t ic u t a n d th e D u t c h e s s C o u n t y R R .
W e s t & S o u th P a c ific , 4 8 ,1 6 8 , a g a in s t 4 7 ,6 6 3 ; a n d S o u th e r n , 3 0 ,4 3 6 , a g a in s t 2 9 ,6 2 0 .
G r a n d t o t a l, 1 6 6 ,6 8 4 , a g a in s t 1 6 4 ,6 0 8 .
M e x ic a n , 3 ,3 7 3 , a g a in s t 3 ,3 5 0 .

J a n . 1 to J u n e
N e w E n g . (8 )
T r ’ n k L in e s (1 2 )
A n tb r a . C o a l( 8 )
E a s t . & M . (2 1 )
M id . W e s t (3 1 )
N .W .& N .P (1 8 )
S . W . & S .P . (1 8 )
S o u th e r n ( 2 7 ) - -

30.
S
2 8 ,6 4 9 .7 0 2
2 7 8 + 7 3 ,8 8 9
5 3 ,2 3 9 ,1 8 8
3 0 .5 8 8 ,3 6 9
6 5 ,5 8 2 ,7 9 2
1 4 1 ,2 5 4 ,4 7 2
1 9 4 ,0 9 1 ,7 1 3
1 3 1 ,9 7 4 ,1 4 3

$
2 5 -7 2 3 ,2 6 1
2 4 7 ,3 9 9 ,4 6 6
5 3 ,9 2 2 ,5 1 8
2 7 ,8 7 8 ,2 9 0
5 8 ,9 7 2 ,5 5 8
1 2 0 ,1 0 5 ,3 7 0
1 6 9 ,6 8 3 ,6 1 1
1 1 1 ,8 0 0 ,9 5 1

$
6 ,5 3 4 ,3 0 4
7 6 ,2 8 8 ,9 5 9
1 8 ,3 1 5 ,7 4 9
8 ,1 0 4 ,7 6 0
17 5 4 2 ,2 6 4
4 8 ,8 9 6 ,2 8 0
5 9 ,1 4 0 ,5 0 6
3 7 .2 7 8 ,2 2 5

$
S
+ 5 5 7 ,8 8 0
5 ,9 7 6 .4 2 4
6 2 ,9 4 2 ,2 0 9 + 1 3 ,3 4 6 ,7 5 0
2 2 ,1 5 0 ,8 9 7 — 3 .8 3 5 ,1 4 8
6 ,6 8 7 ,3 5 3 + 1 ,4 1 7 ,4 0 7
1 4 ,0 6 9 ,1 8 5 + 3 .4 7 3 ,0 7 9
3 9 ,3 9 8 ,8 5 4 + 9 .4 9 7 ,4 2 6
4 3 ,1 5 4 ,5 3 6 + 1 5 ,9 8 5 ,9 7 0
31 9 6 6 ,3 9 7 + 5 ,3 1 1 ,8 2 8

In the case of the separate roads the record of im­
provement is a very noteworthy one. There are some
companies, of course, which show losses, but the num­
ber is very small and confined mainly to roads which
have suffered from special drawbacks like the coal
strikes or the San Francisco earthquake. In the
subjoined tables we show all changes in gross and
net for the separate roads, whether increases or de­
creases, for amounts in excess of $100,000.
P R IN C IP A L C H A N G E S IN

GROSS E A R N I N G S F O R 6 MONTHS.

IJlC T C O S eS .

P e n n s y l v a n i a (2 r d s . ) _ _ £ $ 1 2 , 2 6 0 , 0 0 6

Tnrrpn^p^
C h i c a g o Sc A l t o n _____________ $ 4 4 0 , 0 4 4
P h i l a B a l t o Sc W a s h ________
4 4 3 ,4 0 0
B o s t o n Sc A l b a n y __________
4 4 2 ,4 7 1
W est Jersey & Sea S h o re .
3 3 8 ,4 0 0
V a n d a l i a ______________________
3 3 5 ,3 2 1
P h i l a d e l p h i a Sc R e a d i n g . _ ^ / g 3 0 3 , 3 0 9
H o c k i n g V a l l e y _____________
3 0 1 ,7 1 7
B e s s Sc L a k e E r i e __________
3 0 0 ,3 4 8
W i s c o n s i n C e n t r a l __________ « 2 9 9 , 7 8 7
A l a b a m a G t S o u t h e r n _____
2 9 5 ,7 8 9
S t L o u i s Sc S o u t h W e s t e r n
2 8 7 ,6 1 6
T o l e d o Sc O h i o C e n t r a l ___
2 6 1 ,9 3 4
D e l a w a r e Sc H u d s o n ______
2 4 2 ,5 2 8
B a n g o r . & A r o o s t o o k ______
2 3 6 ,9 9 9
2 2 9 ,5 0 0
L a k e E r i e Sc W e s t e r n ______
G e o r g i a R R _________________
2 1 8 ,1 3 6
E l g i n J o l i e t Sc E a s t e r n _____
2 1 7 ,2 9 0
G u l f Sc S h i p I s l a n d _________
2 1 2 ,9 4 6
M i n n e a p o l i s Sc S t L o u i s ___
2 0 7 ,7 5 4
K a n a w h a Sc M i c h i g a n _____
2 0 6 ,9 7 6
B u f f a l o Sc S u s q u e h a n n a . _
1 8 8 ,7 4 1
I o w a C e n t r a l _________________
1 7 0 ,2 7 5
G e o r g i a S o u & F l o r i d a _____
1 6 8 ,9 4 8
G r a n d R a p i d s Sc I n d R y _ _
1 6 5 ,7 5 3
L o u i s i a n a Sc A r k a n s a s _____
1 6 4 ,7 3 1
D u l u t h Sc I r o n R a n g e _____
1 5 1 ,7 4 1
V i r g i n i a Sc S o u t h W e s t e r n
1 5 0 ,7 2 6
W h e e l i n g Sc L a k e E r i e _____
1 4 5 ,0 3 9
R u t l a n d ______________________
1 2 5 ,5 7 6
D u l u t h S o S h Sc A t l ________
1 1 9 ,0 9 6
C o l o r a d o M i d l a n d __________
1 1 4 ,3 6 0
D e t r o i t & M a c k i n a c ________
1 0 7 ,5 5 2

C a n a d ia n P a c ific __________ 6 ,9 5 7 ,9 2 2
S o u th e rn P a c if ic ___________ 5 ,9 7 0 ,9 1 0
A t c h T o p & S a n ta F e ____ 5 ,6 8 2 ,8 0 4
B a ltim o re & O h io ________ 5 ,6 3 6 ,3 8 3
C h ic & N o W e s t ___________ 4 ,4 1 3 ,0 1 6
S o u th e rn R a ilw a y ________ 3 ,8 2 1 ,7 2 2
U n io n P a c i f i c - ____________ 3 ,6 7 2 ,8 7 8
R o c k Isla n d s y s te m _______ 3 ,6 1 5 ,6 4 6
L o u is v ille & N a s h v ille ____ 3 ,3 8 4 ,6 4 2
N Y C en t & H u d R i v ______ 3 ,0 5 8 ,3 2 9
Illin o is C e n tr a l____________ 2 ,6 7 9 ,1 3 6
S t L o u is & S an F r a n c is c o . 2 ,6 0 7 ,1 4 6
C h ic a g o M ilw Sc St P a u l . _ g 2 ,5 8 0 ,3 3 0
C h esa p ea k e Sc O h io _______ 2 ,4 7 2 ,8 6 7
L a k e S h ore Sc M ich S o u t h . 2 ,4 4 0 ,1 5 2
N o r fo lk Sc W e s t e r n _______ 2 ,2 9 5 ,9 2 0
E rie _______________________ 2 ,1 7 0 ,4 4 4
M issou ri P a c s y st (2 rds) _ _ 2 ,0 4 8 ,5 4 7
M ich C en tra l Sc C an S o u . . 1 .7 6 8 ,5 0 0
A t la n t ic C oa st L in e _______ 1 ,6 2 5 ,3 9 4
B o s t o n Sc M a in e ___________ 1 564,811
D e n v e r Sc R io G r a n d e ____ 1 ,4 6 6 ,8 6 2
W a b a s h ____________________ 1 ,4 3 6 ,1 1 6
G r a n d T r u n k ______________ 1 ,4 2 3 ,9 3 7
M in n S t P a u l Sc S S M ____ 1 ,3 6 4 ,8 6 7
C o lo r a d o & S o u th e r n _____ 1 ,1 0 4 ,3 5 9
P itts b u r g h Sc L a k e E r i e . .
9 9 3 ,8 6 4
N a s h v C h a tta n Sc S t L ___
9 2 8 ,5 7 6
M o b ile Sc O h io ____________
9 0 6 ,2 4 6
C en tra l o f G e o r g ia ________
8 6 5 ,0 3 8
8 4 4 ,3 3 8
S e a b o a r d A ir L in e ________
L o n g Is la n d _______________
8 2 1 ,8 8 9
C in e N O & T e x P a c _______
7 83,481
T o t a l (7 7 r o a d s ) ______ $ 1 0 8 , 5 4 6 , 7 8 5
Y a z o o Sc M iss V a lle y ______
7 3 9 ,9 2 8
D ecrea ses.
M issou ri K a n s Sc T e x a s ___
6 9 9 ,14 3 B u f f a l o R o c h Sc P i t t s b . . . $ 7 3 7 ,9 8 4
K a n sa s C ity S o u th e r n ____
6 6 7 ,7 9 7 L e h i g h V a l l e y _______________
g 4 3 9 ,5 1 3
C h ic a g o Sc G t W e s t e r n ____
5 6 9 ,0 4 7 D e l L a c k Sc W e s t e r n _____ _
2 6 2 ,1 7 8
5 6 1 ,5 3 8 C e n t r a l o f N e w J e r s e y _____ g 2 5 1 ,7 3 4
D u lu th M lssa be Sc N o r ___
W e s t e r n M a r y la n d ________
5 5 9 ,1 5 6 N Y O n t a r i o Sc W e s t e r n . _
1 9 0 ,1 4 3
N Y C h ica g o Sc S t L o u is . _
5 4 3 ,0 8 9 P a c i f i c C o a s t _________________
1 0 4 ,4 0 8
N o rth e rn C e n tra l__________
4 7 9 ,7 0 0
C en tra l o f N ew E n g l a n d ._
4 6 5 ,5 1 2
T o t a l (6 r o a d s ) ___________ $ 1 , 9 8 5 , 9 6 0
V T h e s e f ig u r e s a r e f o r t h e R a i l r o a d C o m p a n y ; t h e C o a l Sc I r o n C o m p a n y
r e p o r t s a d e c r e a s e o f $ 3 ,8 0 9 ,9 2 3 f o r t h e fiv e m o n t h s .
x T h e s e fig u r e s c o v e r o n l y lin e s d ir e c t ly o p e r a t e d e a s t a n d w e s t o f P it t s ­
b u r g h a n d E r ie .
T h e g r o s s o n E a s t e r n l in e s i n c r e a s e d $ 7 , 8 5 2 , 0 0 0 a n d
t h e g r o s s o n W e s t e r n l in e s i n c r e a s e d $ 4 , 4 0 8 , 0 0 0 .
a C o v e rs fiv e m o n t h s o n ly , J u n e n o t y e t h a v in g b e e n r e p o r t e d . • • • •

1906.
T ru n k L in e s —
$
B a ltim o r e & O h i o .b 3 8 ,7 8 1 .6 4 8
D e t G r H & M i l w .a .
2/6 3 0 ,6 9 7
E r ie , a
__ _ 2 4 ,1 4 2 ,6 4 6
G ra n d T r u n k . a ------- 1 4 ,7 0 4 ,6 1 6
G ra n d T r u n k W e s t a 2 /2 ,0 8 7 ,7 2 7
L a k e S h o & M S o . b . 2 0 ,6 0 7 .0 9 5
M ich C e n t& C a n S o . b 1 2 ,4 9 5 ,7 0 0
, N Y C e n t & H R . b . 0 3 7 ,2 7 0 .1 8 8
| N Y C h ic & S t L .b .
4 .8 8 5 ,9 9 9
i P e n n , E o f P it & E b 6 9 ,8 2 6 ,8 4 9
i P e n n , W o f P it & E .b 4 0 ,4 1 4 ,0 0 0
W a b a s l q b --------------- 1 2 ,3 2 6 ,7 2 4

In c. or D ec.
$
+ 3 ,6 0 9 ,8 0 8
+ 2 9 ,6 8 5
+ 1 .0 6 6 .8 6 1
+ 1 5 1 ,8 3 4
— 2 3 ,8 4 4
— 1 2 6 ,1 1 8
+ 1 5 2 ,8 0 0
+ 7 7 5 ,7 4 2
+ 1 0 7 ,1 9 0
+ 3 ,8 7 3 ,9 0 0
+ 1 ,7 6 6 ,6 0 0
+ 1 ,9 6 2 ,2 9 2

1905.
$
3 3 ,1 4 5 ,2 6 5
2/5 36,28 7
2 1 .9 7 2 ,2 0 2
1 3 .2 8 0 ,6 7 9
2 /2 ,1 4 4 ,6 6 4
1 8 ,1 6 6 ,9 4 3
1 0 ,7 2 7 .2 0 0
3 4 ,2 1 1 ,8 5 9
4 ,3 4 2 ,9 1 0
6 1 ,9 7 4 ,8 4 9
3 6 ,0 0 6 ,0 0 0
1 0 ,8 9 0 ,6 0 8

1906.
S
1 3 ,6 8 9 ,0 9 6
2/1 2 0 ,6S9
6 ,2 7 1 .1 0 9
4 ,0 7 2 ,2 8 7
2/287,123
4 .1 9 5 ,9 8 1
2 ,2 6 3 ,8 0 0
1 0 ,4 5 9 ,6 9 1
9 0 3 ,7 6 1
1 9 ,5 3 7 ,2 4 6
1 1 ,4 9 2 ,6 0 0
2 ,9 9 5 ,5 7 6

1905.
S
1 0 ,0 7 9 ,2 8 8
2/91.004
5 .2 0 4 .2 4 8
3 ,9 2 0 ,4 5 3
2/3 10,96 7
4 ,3 2 2 ,0 9 9
2 ,1 1 1 ,0 0 0
9 ,6 8 3 ,9 4 9
7 9 6 ,5 7 1
1 5 ,6 6 3 ,3 4 6
9 ,7 2 6 .0 0 0
1 ,0 3 3 ,2 8 4

T o t a l (12 r o a d s ) . . 2 7 8 , 1 7 3 ,8S9 2 4 7 ,3 9 9 ,4 6 6

7 6 ,2 8 8 ,9 5 9

6 2 ,9 4 2 ,2 0 9 + 1 3 ,3 4 6 ,7 5 0

N o t e .— I n th e a b o v e w e s h o w in th e c a s e o f th e P e n n s y lv a n ia R a ilr o a d th e r e su lts
o r th e lin es d irectly op era ted o n l y , e a s t a n d w e s t o f P it t s b u r g h a n d E r ie .
F o r th e
W e s te r n lin es w e h a v e ta k e n o n e -h a lf th e e a r n in g s f o r th e fu ll c a le n d a r y e a r 19 05
(th e fig u res b y m o n th s n o t b e in g a v a ila b le ) a n d a p p lie d t o th e m th e c h a n g e s —
w h e th e r in cr e a s e o r d e cre a s e — r e p o r t e d f o r 1906 .
o T h e se a re resu lts a ft e r d e d u c t in g th e e a rn in g s o f th e B o s t o n & A lb a n y in th e
N e w E n g la n d G ro u p a b o v e .
■Gross------------------ --------------------------------- N etI n c . or D e c .
1906.
1905 .
1906 .
19 0 5 .
s
S
A n th ra cite C oa l.
S
S
$
— 5 0 9 ,5 7 5
2 /9 ,0 4 9 ,6 0 3
2 /9 ,3 0 1 ,3 3 7 2 /3 ,7 2 3 ,9 4 6 2 /4 ,2 3 3 ,5 2 1
C e n tra l o f N J . b —
— 1 0 1 ,2 0 0
2 ,0 5 0 ,0 2 3
D e la w a r e & H u d . b .
5 ,9 0 1 ,4 8 9
5 ,6 5 8 ,9 6 1 . 1 ,9 4 8 ,8 2 3
D e l L a c k & W e s te r n
— 5 3 0 ,0 2 9
2 ,8 9 1 .4 7 0
2 ,3 6 1 .4 4 1
5 .3 7 3 ,7 5 4
L ’ s’ d lin es N Y S t b 5 ,1 1 1 ,5 7 6
— 6 9 ,0 0 3
6 6 3 ,8 5 1
2 3 3 ,2 8 0
3 0 2 ,2 8 3
S yrac B & N Y .b
6 6 0 .3 0 0
— 8 2 4 ,0 0 6
e L e h ig h V a l l e y . b _ . ' /1 2 ,0 4 4 ,7 4 6 2/12,4 S 4 ,259 2 /3 ,7 8 6 .0 1 2 2 /4 ,6 1 0 .0 1 8
— 7 7 ,5 2 7
3 ,4 3 1 ,4 2 1
8 8 4 ,1 4 7
3 ,2 4 1 ,2 7 8
S 0 6 .6 2 0
N Y O nt & W e s t-a .
— 7 9 ,0 7 7
3 1 8 .8 5 2
3 9 7 ,9 2 9
2 /1 ,1 7 9 ,5 8 0
N Y S u s q & W e s t - a 2 /1 ,0 9 0 .4 3 0
k P h ila & R e a d . b . _ 7 1 6 ,1 3 6 ,2 1 5 2 /1 5 ,8 3 2 ,9 0 6 2 /5 ,1 3 6 ,7 7 5 2 /6 ,7 8 1 ,5 0 6 — 1 ,6 4 4 .7 3 1
T o t a l (8 r o a d s ) - -

5 3 ,2 3 9 ,1 8 8

5 3 .9 2 2 .5 1 S

1 8 ,3 1 5 .7 4 9

2 2 ,1 5 0 ,8 9 7 — 3 ,8 3 5 ,1 4 S

k T h e s e fig u res a r e j o r th e R a ilr o a d C o m p a n y o n ly .

T h e C oal & Ir o n C om p a n y
r e p o rts g ro s s fo r fiv e m o n t h s o f 1906 o f $ 1 2 ,6 6 6 ,5 8 8 , a g a in s t $ 1 6 ,4 7 6 ,5 1 1 in 1 9 0 5 ,
a d e cre a s e o f $ 3 ,8 0 9 ,9 2 3 , a n d n e t, $ 3 3 3 ,2 3 7 in 19 0 6 , a g a in s t $ 1 ,1 9 4 ,6 5 2 in 1905 .
e T h e s e ea rn in g s a re e x c lu s iv e o f re s u lts o f c o a l c o m p a n ie s .
---------------- -G ross-------------------------------------------------- N et19 0 5 .
1906.
19 0 5 .
19 0 6 .
E a st arid M id d le.
S
$
S
$
9 .1 5 1
5 .6 4 0
B e lie fo n t e C e n t r a l.b
2 7 ,9 8 4
2 9 .4 8 0
8 7 2 ,2 1 0
B e s se m e r & L E r ie a 2 .3 9 8 ,0 0 4
2 ,0 9 7 ,6 5 6
1 .0 0 3 ,5 9 3
1 ,3 4 9 ,4 6 2
3 ,9 5 2 ,2 2 4
3 ,2 1 4 ,2 4 0
1 ,1 0 8 ,3 6 8
B u ff R o c h & P i t t s - b
1 8 7 ,7 8 5
5 5 3 ,6 1 0
2 6 2 ,0 6 9
7 4 2 .3 5 1
B u ffa lo & S u s q . b . _
4 0 ,1 6 9
1 1 0 .6 2 1
5 7 ,5 1 4
C o rn w a ll . a _ __ __
8 0 ,0 5 6
8 3 ,6 1 7
1 6 9 ,6 5 4
2 1 2 .4 0 4
1 0 3 .3 1 9
C o rn w a ll & L e b . b_ _
1 ,9 3 0
D u n k A ll V y & P _ b
1 2 8 ,S25
1 2 9 ,4 6 9
d e f l3 ,9 5 8
1 5 2 ,8 4 4
3 4 4 , S64
3 1 7 ,2 6 3
1 5 1 ,0 6 1
F o n d a J o n & G lo v —
1 5 ,4 2 8
7 7 ,8 7 9
1 6 ,6 9 3
7 6 .9 4 S
G en esee & W y o m . b
1 2 ,8 4 7
1 2 ,3 2 2
G re e n w & J o h n s o n b
3 5 ,0 5 1
3 5 ,2 9 5
1 0 8 ,5 3 2
2 5 0 ,3 5 5
1 3 8 ,3 7 6
L e h ig h & H u d s o n , b
3 3 6 .6 3 7
4 6 1 ,8 9 6
4 ,1 7 3 ,6 1 4
3 ,3 5 1 ,7 2 5
5 7 5 ,0 9 6
L o n g I s la n d , b --------4 2 ,4 0 4
1 5 0 ,4 3 4
4 8 ,2 6 5
1 6 6 ,1 0 8
M a r y la n d & P e n n , a
6 5 1 ,6 8 4
4 ,9 9 6 ,0 9 4
1 .1 6 2 ,4 8 4
N o r th e rn C e n tr a l, b
5 ,4 7 5 ,7 9 4
1 ,7 4 1 ,2 6 0
1 ,5 2 4 ,7 6 0
7 ,5 1 3 ,4 1 1
7 ,0 7 0 .0 1 1
P h ila B a lt & W a s h .b
d e f4 ,5 8 9
9 5 ,9 3 9
d e f4 ,9 1 6
1 0 8 ,0 8 3
S t a t e n Is la n d R y . b .
3 4 3 ,7 5 2
1 3 1 .4 4 2
1 2 2 ,1 4 5
4 2 9 ,4 7 0
S ta te n Is la n d R T . b
8 8 ,4 0 9
3 5 1 ,5 7 4
8 6 ,9 7 1
3 6 7 ,0 9 3
U ls te r & D e L b ------3 0 9 ,9 3 2
1 ,8 3 2 ,2 5 2
5 2 4 .0 3 2
2 ,1 7 0 .6 5 2
W J & S ea S h o r e .b
2/18.321
2/1 4,079
2/6 3,399
2/66,890
W ’ m sp ’ t& N o r B r .b
9 7 9 ,6 1 2
6 3 9 ,8 5 4
1 ,9 3 0 ,1 6 9
W e s te r n M a r y la n d , a 2 ,4 8 9 ,3 2 5
T o t a l (21 r o a d s ) . 3 0 ,5 8 8 ,3 6 9

2 7 ,8 7 8 ,2 9 0

8 ,1 0 4 ,7 6 0

6 ,6 8 7 ,3 5 3

I n c . o r D ec .
$
— 3 ,5 1 1
+ 1 3 1 ,3 8 3
— 2 4 1 ,0 9 4
+ 7 4 ,2 8 4
+ 1 7 ,3 4 5
+ 1 9 ,7 0 2
— 1 5 ,8 8 8
— 1 ,7 8 3
+ 1 ,2 6 5
— 525
+ 2 9 ,8 4 4
+ 1 1 3 .2 0 0
+ 5 ,8 6 1
+ 5 1 0 ,8 0 0
+ 2 1 6 ,5 0 0
— 327
+ 9 ,2 9 7
+ 1,4 3 8
+ 2 1 4 ,1 0 0
— 4 ,2 4 2
+ 3 3 9 ,7 5 8
+ 1 ,4 1 7 .4 0 7

Middle Western.

-------------- Gross--------------1906.
1905.
8
$
5,355.890
4,915.846
|/2.289,146 5/2.206.122
750.212
837.939
502.355
609,907
1,130.386
1,347.676
985.849
1,022,539

1906.
$
1.448,599
1/649.785
288.101
24.629
457.667
422.336

Chicago A- Alton a
Chic Ind A Loulsv a
Chic Term Trans, b.
D etroit A M a ck .a ..
Elgin Joliet & E . a Evansv & I n d a p .)
F.vansv A T Haute]
2,716.271
934.23S
3.017.988
Hocking Valley . a . .
7,572,768
Illinois Central a . 26.317.1 S3 23,638.047
238.448
858.432
Kanawha A M ich.a 1.065.40S
6 IS.300
2.289.300
Lake E r i e * W est-b 2,518,800
237.109
76,957
242.379
Manlstlque A X E .a
19.035
41,595
51.157
M antocique-b.. - - Pennsylvania Co—
Lines not included in Trunk Lines Group above:
Central Indiana.a
66.007
71.205
20.080
43,35$
136,210
157.276
O n Leb A N w . a
61.000
Cin & Musk V al.a
387.891
368,875
190.034
877.689
Clev Akr ACol a.
928,287
267.741
1,603,179
Gr R ap A IndRya 1.768.932
13,893
75,707
79.558
M G R & I .a ..
4.115
35.073
32.463
Traverse C ity.a
47.032
• O n R & F tW .a
305.764
293.826
129.214
93.385
Pitts Char & Y .a
195.493
296.372
42.S74
323.054
Terre H A Peo _a .
67,056
591.926
604.110
T o l Peoria £ W .a
763,379
3,323.533
Vandal ta. a ______ 3,65S,S54
64.743
15.336
68.610
W aynes A* Wash a
60,534
119.SSI
Wheeling T erm .a
107.897
97,294
156.323
185,569
Louisville Bridgea
1,606,674
6,053.293
Pitts a- L a k e Erie _ 7.047.157
298.262
645,134
Southern Indiana.b
726.516
365,514
Tol A Ohio Cent .a .
1.583,051
1.844.985
733.840
Wheel & l ake Erieb 2.419.59S
2,274,559
Total (31 road s). 65.5S2.792 5S.972,558
------------- -Gross--------------North Western &
1905.
1906.
North Pacific.
S
S
Canadian P a cific.a _ 30.2S7.7S2 23.329.S60
Chicago Gt W e s t.b . 3.945.S19
3.376.772
C hicM ilw A S tP _ a _ i 1/21,602,437 2/19,022,107
Chic & No W e s t ... 30.564.963 26.151.947
Copper R a n g e .a __
316.675
336.709
Dul A Iron R ange,a 2,945.097
2,793,356
DulM i "S&be A N or. a . 3.154.062
2.592,524
Duluth R L A W in n .
99.605
168,466
Dul So Sh A A tl.b__ 1,464,528
1,345,432
Fairchild & X o r E .b
9.302
18,014
Iowa C en tral.a____ 1,434.405
1,264,130
Mineral R anee, b __
333,055
354,257
Minn & St L o u is.a .
1,498,845
1,706.599
Miun St P A S S M b 5.441,793
4.076.926
2,910,532
Pacific C o a s t______
2,806.124
St Jos A- Gr I s l.b __
629,622
713.496
Union P a cific.a ____ 31.464.457 27,791,579
Wisconsin Central.b 2/2,854,176 2/2,554,389

10,785.913
1.056.384
2/5,992,422
9,072,302
111,151
1,475.991
1.790,722
78.344
427,046
2,017
376,784
7S.730
541.363
2,338,152
542,013
158,875
13.121,925
2/946,146

Total (IS road s). 141,254.472 120,105,370

48,S96,2S0

17,542,264
1906.
-

------ Net-------Inc. or Dec.
1905
$
$
1,325,311
+ U3.2SS
1/6 71.788
— 22.003
284.121
+ 3,980
126,814
— 102.185
403,314
+ 54.353
387.465
+ 34.871
711.609
+ 222,509
5,612,240 + 1.960,528
121,729
+ 116.719
C07.900
+ 10.400
92.554
— 15,597
6.518
+ 12.517
20,902
30.253
41,915
198.907
161.590
13.419
1.012
36,514
41,503
18,050
77.032
636,867
14,872
78.809
73,476
1,388,648
253,344
174.349
450.300

— S22
+ 13,105
+ 19.085
— 8,873
+ 106.151
+ 474
+ 3,103
+ 10.51S
+ 51,882
+ 24,824
— 9,976
+ 126.512
+ 464
— 18,275
+ 23.SIS
+ 218,026
+ 44,918
+ 191,165
+ 277,540

14,069,185
------ isei------1905.
$
6,330.339
953.906
2/5,657,867
6,580,400
125,985
1,444,896
1,550,341
30,825
384,297
7.443
250,667
59,311
491.086
1,749,675
642,784
146.264
12,247,522
2/745,246

+ 3.473,079

Inc. or Dec.
8
+ 4,455,574
+ 102,478
+ 334,555
+ 2.491,902
— 14,834
+ 31,095
+ 240.381
+ 47,519
+ 42,749
— 5,426
+ 126,117
+ 19,419
+ 50,277
+ 588.477
— 100,771
+ 12,611
+ 874.403
+ 200,900

1905.
1906.
$
S
39,443.552 33,760.748
663,845
631,864
4.629,567
5,733,926
909,328
1.023,688
8,049,393
9,516,255'
4,139.710
3,471,913
9,123,586
9.822,729
21.S7S.935 19,830,38S

S
14,638,458
112,257
1,516,299
211,254
3,446,983
1,085,166
2,253,509
6,457,581

Inc. or Dec
1905S
S
10,278,090 + 4 ,3 6 0 ,3 6 8
137,947
— 25,690
914,233
+ 602,066
114,485
+ 96,769
3,080,116
+ 366,867
+ 330,747
754,419
+ 540.332
1,713.177
4,513,711 + 1,943,870

98,869
18,542
220.017
20,611,432
17,756.665

39,032
16.403
110,201
5,972,836
6,234.948

— 5,004
44,036
+ 8,235
8,168
+ 26,206
83,995
3,635.138 + 2,337,698
4,543,587 + 1,691,361

4,107.197
46,045,025
351,353
35,743

936,058
15,920.001
151,455
38,065

974,349
— 38,291
12,246.944 + 3 ,67 3,05 7
92,379
+ 5 9 .0 7 6
19.762
+ 1 8.3 03

Total (18 r o a d s ).194.091,713 169,683,611

A tch Top A S F e .b .
California NorthW a
Colorado Southern a
Colorado M idland. _
D enver A R io G r . b .
Kansas City South.a
Mo Kansas A T e x . a
Mo Pac A Iron Mtl b
Central Branch )
Nevada Cal A O re.a
100,199
Nevada C en tra l.b __
36.016
R io Grande S ou th .b
266,362
R ock Island C o.a__ 24.227,078
St Louis A S Fran\a 20.363,811
Chic & East 111...:
St Louis A S W .b . . 4,394,813
South Pac System .a 52,015,935
Texas C entral_____
425,409
Wichita V a lle y ____
71,431

1906.

59,140,506

43,154,536+15,985,970

--------------- -Grtiss----------------1906 .
1905 .
Southern.
S
S
Alabama Gt Sou .a .
1 .6 2 7 ,7 3 9
1 ,9 2 3 .5 2 8
A tl'a.B irm & A tl’ c . a
5 9 0 .S 1 4
4 9 9 ,6 8 7
Atlantic Coast L .a_ 1 3 ,3 4 3 ,4 7 5 1 1 ,7 1 8 ,0 8 1
Central of Georgia.a 5 ,5 1 6 .0 3 0
4 ,6 5 0 ,9 9 2
Chattanooga S o .a . .
7 1 .9 1 6
5 2 ,7 6 7
Chesapeake A: O b. 1 2 ,7 3 8 ,8 3 2 1 0 ,2 6 5 ,9 6 5
Chesterfield A Lane.
2 0 .1 9 6
1 7 ,0 7 6
Cin X O A Tex P .a . 4 ,4 2 2 ,3 9 0
3 ,6 3 8 ,9 0 9
Col Newb 6c L a u .b .
1 4 4 ,5 5 0
11 7 ,5 5 9
Georgia, a ............. .... 1 ,4 0 4 ,7 3 3
1 ,1 8 6 ,5 9 7
Georgia So A F la .a .
1 ,0 0 5 .9 2 9
8 3 6 ,9 8 1
Gulf A Ship Island.a 1 .1 4 4 ,1 9 2
9 3 1 ,2 4 6
Lexington 6c E ast. b
2 6 6 .8 8 2
2 3 5 ,0 0 1
Louisiana 6c A r k .a .
6 0 0 ,4 6 3
4 3 5 ,7 3 2
Louisv 6c X a s h v .b . 2 1 ,9 2 6 .3 1 9 1 8 ,5 4 1 .6 7 7
Macon A Birm _____
8 0 .3 1 1
5 9 ,9 5 8
Mobile A O h io .a ... 4 .9 3 1 .6 6 3
4 ,0 2 5 ,4 1 7
Nash Chat A St L .b 5 ,8 5 8 ,0 2 5
4 .9 2 9 .4 4 9
Norfolk A Westemb 1 4 .6 9 0 .8 8 7 1 2 ,3 0 4 ,9 6 7
Raleigh A S ’port.a
3 4 .1 1 4
2 4 ,8 2 1
Rich Fred A Pot___
9 7 4 ,8 8 4
9 0 0 .3 9 5
Sea A ir L ln e .a _____
7 .8 7 9 .6 9 0
7 .0 3 5 .3 5 2
Southern Rail w ay. a 2 7 .0 3 6 .9 9 3 2 3 ,2 1 5 ,2 7 1
Tidewater A West. _
4 7 ,8 2 3
3 9 ,2 4 6
\ Irginla A: 8 W - b ...
5 3 2 .6 0 5
3 8 1 .8 7 9
W rights A Tenn.b.
9 6 .0 4 9
8 7 ,2 6 5
V a z o o A MJas \ al.a 4 ,7 8 0 .8 5 0
4 .0 4 0 ,9 2 2

1906 .
$
3 2 9 ,1 9 4
1 4 8 ,6 6 9
4 ,1 1 6 ,3 7 7
1 ,3 1 0 ,2 6 4
9 ,4 7 9
5 ,0 0 7 ,9 6 6
8 ,1 1 4
1 ,1 1 0 ,3 9 5
2 2 ,1 2 7
2 8 3 ,8 8 0
1 6 4 ,1 6 0
3 5 6 ,6 5 0
1 2 8 ,1 1 8
1 9 6 ,9 9 2
5 ,8 4 1 ,1 4 6
3 ,3 5 9
1 ,4 2 2 .9 4 6
1 ,5 1 6 ,7 2 7
5 ,8 3 8 ,8 1 5
1 4 .0 8 7
3 6 5 ,3 8 2
1 ,9 3 6 ,0 2 0
5 ,8 5 1 ,6 1 8
1 0 .7 8 0
2 2 0 ,3 2 5
2 6 ,1 4 6
1 ,0 3 8 ,4 8 9

------- Net-------Inc. or Dec.
19 0 5 .
S
S
+ 5 1 ,2 9 0
2 7 7 ,9 0 4
+
1
0 ,2 3 9
1 3 8 ,4 3 0
4 ,2 6 4 ,8 1 2
— 1 4 8 .4 3 5
+ 2 9 4 ,2 6 1
1 .0 1 6 .0 0 3
+ 1 4 ,6 9 4
d e f5 ,2 1 5
3 ,5 2 7 .8 5 6 + 1 ,4 8 0 ,1 1 0
+ 2 ,2 7 9
5 ,8 3 5
+ 2 5 2 ,0 3 0
8 5 8 ,3 6 5
1 5 ,8 9 2
+ 6 ,2 3 5
— 4 3 ,0 4 4
3 2 6 ,9 2 4
— 7 ,5 9 9
1 7 1 ,7 5 9
+ 1 2 0 ,4 7 3
2 3 6 ,1 7 7
+ 4 3 ,7 5 6
8 4 ,3 6 2
+ 2 9 ,1 1 1
1 6 7 ,8 8 1
+ 42 2 ,4 7 1
5 ,4 1 8 ,6 7 5
+ 1 1 ,446
d e f8 ,0 8 7
+ 2 6 6 ,7 9 4
1 ,1 5 6 ,1 5 2
+ 3 9 1 .6 2 4
1 ,1 2 5 ,1 0 3
4 ,7 0 2 ,6 5 3 + 1 ,1 3 6 ,1 6 2
+ 7 ,4 1 4
6 ,6 7 3
+ 3 5 ,8 0 8
. 3 2 9 ,5 7 4
— 14 6 .4 9 4
2 ,0 8 2 ,5 1 4
+ 3 9 9 ,5 7 1
5 ,4 5 2 ,0 4 7
+ 6 ,9 0 3
3 .8 7 7
+ 7 2 ,7 3 7
1 4 7 ,5 8 8
— 7.8 61
3 4 ,0 0 7
+ 6 0 9 ,8 5 3
4 2 8 ,6 3 6

T o t a U (2 7 r o a d s ) .: 1 3 1 .9 7 4 .1 4 3 1 1 1 ,8 0 0 .9 5 1

3 7 ,2 7 8 ,2 2 5

3 1 .9 6 6 ,3 9 7

+ 5 ,3 1 1 .8 2 8

G r a n d t o t . 0 4 3 r d s .> 9 2 3 .5 5 4 ,2 6 8 8 1 5 .4 8 6 .0 2 5 2 7 2 ,1 0 1 .0 4 7 2 2 6 ,3 4 5 ,8 5 5 + 4 5 ,7 5 5 .1 9 2

-Gross-

-NeU

1905.
Inc. or Dec.
S
$
744.409
+ 339 ,12 0
1.230,868
+ 445.804
1,988.029
+ 9 4 2 .1 8 5

1906.
S
3.498,490
4.037.530
7.393,925

1905.
$
3.231.715
3.242.481
6,110.345

1906.
S
1.083.529
1.G76.672
2.930.214

Total (3 r o a d s ).. 14,829.945

12.584,541

5,690,415 • 3,963.306 + 1,727.109

Mexican Poods.
Interoceanfc_______
Mexican Internat . .
National of M exico.

a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
V These figures are tor five months only In both years.

Starting with the total of the gross in the above,
we add on these other roads, thus affording a total of
the gross including every road in the country for which
it has been possible to make up or procure the figures
for the six months.
G RO SS E A R N IN G S OF U N IT E D S T A T E S R A IL W A Y S
J A N U A R Y 1 T O J U N E 30.
1906.

January 1 to June 30.
R e p o r te d a b o v e (1 4 3 rds)
A la N ew Oi l A T e x P a c—
N ew O il A N o r E a s t .
A la A V ic k s b u r g --------V ic k s S h rev A P a c —
C in cin n a ti N o r th e r n ____
C h ica g o Burl A Q u in c y .
('h ie ln d A S o u th e r n —
C h ic St P aul M inn A O . .
C lev C in e C hic A St L __
P e o ria A E a s te r n ------D et T o le d o A I r o n t o n . .
G reat N o r th e r n _________
M on ta n a C e n tr a l. .
Illin ois S o u th e r n .
1n tern a t A G t N o r th e r n .
N orth ern P a c ific ________
T e x a s A P a cific _ .
T o le d o St L ou is A W e s t .

Increase.

1905.

D ecrease.

$
$
$
9 2 3 ,5 5 4 268 8 1 5 ,4 8 6 ,0 2 5 1 08,068,243
1 ,3 3 1 ,2 2 4
642,644
6 70 ,51 2
3 79,649
3 0 ,8 5 7 ,2 4 7
1 ,03 6,87 3
5 ,4 2 5 ,8 6 3
1 0 ,2 3 1 ,0 2 3
1 ,30 6,90 4
1 ,57 6,81 8
18,3 88 ,8 24
1,199,371
128,646
2 ,8 4 1 ,6 2 7
2 3 ,7 4 3 ,9 3 7
5 ,6 4 5 ,9 8 4
1 ,8 0 2 ,8 4 9

1 ,6 1 0 ,5 7 8
7 30 ,05 0
7 23,757
475,761
3 5 ,2 1 2 ,8 4 2
1 ,14 6,26 3
5 ,9 7 9 ,5 4 2
1 1 ,3 6 2 ,5 1 8
1 ,4 61 ,5 56
1 ,90 7,47 5
2 2 ,7 5 5 ,1 9 5
1 ,3 7 5 ,0 0 7
145,605
3 ,0 6 3 ,9 3 3
2 9 ,1 7 4 ,2 0 3
6 ,6 0 3 ,4 8 8
2 ,0 7 3 ,5 3 1

2 79 ,35 4
8 7,406
5 3.245
9 6 ,1 1 2
4 ,3 5 5 ,5 9 5
109,390
5 53 ,67 9
1 ,1 3 1 ,4 9 5
154,652
3 30,657
4 ,3 6 6 ,3 7 1
175,636
16,959
2 22,306
5 .4 3 0 .2 6 6
9 57 ,50 4
2 70 ,68 2

T o ta l (160 r o a d s )____ 1 ,0 4 9 ,3 5 5 ,5 7 2 9 2 2 ,6 9 6 ,0 2 0 1 26 .6 5 9 .5 5 2
1 26 .6 5 9 .5 5 2
N et Increase (1 3 .7 2 % )_ _
2,566
196,571
1 94,005
Miles o f r o a d ____________

In this way, it will be seen, we get an increase in
gross earnings for the six months of $126,659,552 on
a total length of road of 196,571 miles. This follows
$63,652,030 increase on 185,912 miles of road in 1905
over 1904. In the table we now annex we show results
for previous years according to the same method of
computation and indicate also the mileage on which
the figures have been based in each year.

39,398,854 + 9,497,426

-Net-

^GrossSouth HVs* A
South Pacific

529

THE CHRONICLE

S e p t . 8 1906.]

Earnings.

Mileage.
Jan. 1
to
June 30.

Year
lu­
Year
Given. Prece'g. cre’ se
Miles. Miles.

1 897
1898
1 899
1900
1901
1 902
1 903
1904
1905
1906

158,295 157,463
158,775 157,702
161,166 15 9 ,8 6 5
166,704 16 2 ,1 9 0
................
..................
175,371
171,257
______ 179,065 17 6 ,4 5 9
______ 173,655 16 9 ,7 4 7
_____ 177,673 17 3 ,4 9 5
______ 185,912 183,320
_____ 196,571 19 4 ,0 0 5
______
______
______
______

%

Year
Given.

S

S

S

0 .5 2 4 7 3 ,0 8 4 ,9 2 4
0.68 5 3 6 ,3 7 5 ,7 7 6
0 .8 1 5 5 6 ,3 2 6 ,3 6 4
2 .7 9 6 4 3 ,3 4 2 ,6 4 3
2 .4 0 7 0 4 ,5 3 8 ,7 9 2
1.47 7 4 9 ,0 2 3 ,0 0 5
2 .3 6 8 4 7 ,0 3 4 ,3 1 8
2 .4 1 7 9 4 ,9 2 9 .1 6 8
1.41 9 1 0 ,0 2 7 ,2 5 8
1.32 1049355572

Increase
or
Decrease.

Year
Preceding.

4 7 5 ,2 9 3 ,3 5 0
— 2 ,2 0 8 ,4 2 6
+ 5 9 ,3 4 0 ,2 9 4
4 7 7 ,0 3 5 ,4 8 2
5 2 3 ,2 3 1 .2 1 1
+ 3 3 ,0 9 5 ,1 5 3
+ 7 7 ,9 4 9 ,1 3 2
5 6 5 ,3 9 3 ,5 1 1
6 4 2 ,3 2 1 ,5 1 4 + 6 2 ,2 1 7 ,2 7 8
+ 4 7 ,3 3 4 ,7 2 1
7 0 1 ,6 8 8 ,2 8 4
7 4 5 ,0 8 7 .4 7 6 + 1 0 1 ,9 4 6 ,8 4 2
8 1 0 ,1 3 1 ,9 8 3 — 1 5 ,2 0 2 ,8 1 5
8 4 6 ,3 7 5 ,2 2 8 + 6 3 .6 5 2 ,0 3 0
9 2 2 ,6 9 6 ,0 2 0 + 1 2 6 ,6 5 9 ,5 5 2

%
0 .4 6
12.44
6 .3 2
13.78
9 .6 9
6 .7 4
13.68
1.87
7.52
13.72

Large though the mileage embraced in the above
totals is, it does not quite cover the entire railroad
system of the country. About 15,000 miles remain
unrepresented. If we could have returns for the miss­
ing roads, it seems reasonable to suppose that the
increase would be raised to about $135,000,000. In
1905 we computed that there had been an increase of
$70,000,000 over 1904. In 1904 we made a decrease
for the six months of between $18,000,000 and
$20,000,000. Previously, we estimated that in the
six months of 1903 there had been an improvement of
$115,000,000 over the six months of 1902; that simi­
larly in 1902 there had been an increase of $50,000,000
over the year preceding; in 1901 an increase of
$70,000,000; in 1900 an increase of $90,000,000; in
1899 an increase of $42,000,000; and in 1898 an in­
crease of $68,000,000. This makes altogether an im­
provement for the nine years in these six months in
the prodigious sum of $620,000,000— a marvelous
record, upon which we have not the space to enlarge
at this time.
To complete our records we furnish the following
summary of the monthly totals of the gross in their
final form.

f^All the figures in the foregoing relate to roads which
have furnished returns of both gross and net earnings.
As already stated, the aggregate length represented January .
February
by these rqads is 166,684 miles. In addition, we have I M arch __
\ prll —
returns from roads comprising 29,887 miles more I May.........
J u n e ___
which have supplied figures of gross but not of net*

Gross Earnings.
Month.

(117
(118
(114
(111
(124
(113

roads)
roads)
roads)
roads)
roads)
roads)

1906.

1905.

152,980.485
142,056,542
159,258,800
136,685,537
152,183,742
146.010.301

126,655.852
112.895,257
143,978.440
128.005.775
138.557.872
130,233,293

Increase or |
Decrease. ! %
+ 20.424.633 ]20.88
+ 29,701.286 26.36
+ 16.280.450 10.61
+ 8,679.702; 6.78
H70i 9.83
+ 15.777.008'12.11
1

530

[V ol , Lxxxm .

TH E CHRONICLE.

D is t r ib u t io n o f th e a b o v e th r e e c r o p s h a s b e e n a s fo llo w s :

COTTON M OVEM ENT A N D CROP
OF 1905-0 6.

190 5 -0 6.
T a k in g s f o r C o n s u m p t io n —

w h ile

th e

ex p orts

a re

6 ,7 1 6 ,3 5 1

b a le s

and

th e

s p in n e r s '

t a k in g s a re 4 ,8 5 2 ,3 5 2 b a le s , le a v in g a s t o c k o n h a n d a t th e
c lo s e

of

th e y e a r o f

1 9 8 ,1 7 8

b a le s .

Total ta k in g s for consumption____ . 4 ,8 5 2 ,3 5 2

4 ,5 5 0 ,0 5 8

4 ,1 4 4 ,8 7 8

Total, except Canada by rail . _____ - 6 ,6 0 1,47 9
To Canada by rail........... ....................
114,872

8 ,7 5 2 ,4 0 4
124,946

6 ,0 4 8 ,6 2 9
8 5 ,5 0 3

Total exports . _
. . . ______ . 6,7 1 6,35 1
Burnt during year.................. ...... ..........
14,451

8 ,8 7 7 ,4 0 0
36,981

6 ,1 3 4 ,1 3 2
934

Total distributed.................... ............. -1 1 ,5 8 3 ,1 5 4

1 3,4 6 4 ,4 3 9

1 0 ,2 7 9 ,9 4 4

E x p o r ts—

T h e w h o le m o v e m e n t

f o r th e t w e lv e m o n t h s is g iv e n in th e f o llo w in g p a g e s , w it h

D e d u ct—

Stock decrease, plus cotton Imported

s u c h s u g g e s tio n s a n d e x p la n a t io n s as th e p e c u lia r fe a t u r e s
o f th e y e a r a p p e a r

t o r e q u ir e .

Total c r o p __

T h e fir s t t a b le in d ic a t e s th e

fo r

th e p a s t y e a r

(1 9 0 5 -0 6 ) in

d e t a il, a n d

t h e t o t a ls f o r

1 9 0 4 -0 5 a n d 1 9 0 3 -0 4 .

S ept. 1

o f—

1906.

E x p o rts Y ea r E n d in g Sept. 1 1906. \

S ept. 1

Great
B rita in . F r a n c e .

1905.

C on tinent.

S locks.

Sept.

1906.

Total.

Lou’ana. 1,653
2,689 ,520 751,945 250,375 567,286 1,569,606
Texas . 2,807
3,161 503 1,086,954 318,42S 843,591 2,248,973
Georgia - 1,697
2,075 439 310,130 74,322 730,854 1,115,306
250 .350 329 556
Alabama
55,939 40,796
43,219 139,954
Florida _
53,339 176,961
83,629 39,993
183 152 217 649
9,900
S.Ca’lina
5,500
4,400
177 671 225 ,988
N.Ca’lina
400 ,75S 467 317 139,595 5,225 175,263 320,083
3,552
34,372
Virginia
21,820 9,000
620 121 757 319
New Y ’k
a 0 575 a33 798 179,370 26,222 313,816 519,418
Boston-.
10,914 147,322
0.63 822 «S3 614 136,408
85,222 13,974
56,982 156,178
Baltimre
a65 682 o63 872
Phiia . . .
alO 317 al3 645
35,620
4,065
39,685
10,714' ____ «114,872 125,586
P’tl’d.&c
S.Fr. ,&c.
—
113,007 113,007
Totals
This yr 7,935,863
Last yr
Pre. yr

263 ,29 4

«9 2 ,4 0 2

156,258

................ .......... .1 1 ,3 1 9 ,8 6 0

13,5 50 .8 4 1

1 0,1 2 3 ,6 8 6

In th e a b o v e a re g iv e n th e ta k in g s fo r

1S ep t. 1
1905.

15,273
52,318
18,868
4,355
4,104
3,464
314
9,928
83,971
2,266
2,067
1.250

43,444
70,186
30,878
3,381
7,808
4,223
2,490
15,543
132,102
3,294
4,000
952
■_____
4,291

2,902,846 778,345 3,035,160 6,716,351 198,178 _____
322,592
4,128,952 860,930 3,887,5188,877,400
111,799
2,582,646 706,561 2,844,925 6,134,132

a These figures are only the portion of the receipts at these ports which arrived
by rail overland from Tennessee, &c. b Shipments by rail to Canada.

consum ption.

The

a c t u a l c o n s u m p t io n f o r th e s a m e t w o v e a ! .- h as b e e n :
1905-06.

1904-05.

B a le s .

Northern mills’ stock Sept. 1...............
Takings a_____ _______________________

R eceipts for Y ear
ending—
P orts

..

a Addition.

s t o c k a t e a c h p o r t S e p t . 1 1 9 0 6 , th e r e c e ip t s a t t h e p o r t s
f o r e a c h o f t h e p a s t t w o y e a r s a n d th e e x p o r t m o v e m e n t

B a le s .

2 ,1 3 7 ,3 6 9
2,0 0 7,50 9

I t w ill

b e seen t h a t th e t o t a l c r o p th is y e a r r e a c h e s 1 1 ,3 1 9 ,8 6 0 b a le s ,

190 3 -0 4.

B a le s .

2 ,3 4 6 ,6 0 2
2 ,2 0 3 ,4 0 6

O u r s t a t e m e n t o f t h e c o t t o n c r o p o f th e U n it e d S t a t e s f o r
th e y e a r e n d in g S e p t . 1 1906 w ill h e f o u n d b e l o w .

190 4 -0 0.

B a le s ,

North_______________ ______________
. 2 ,4 5 3 .9 4 8
S outh____
- - .
_______
_ _ _ . 2 ,3 9 8 ,4 0 4

B a le s .

264,561
134,007
4,852,352
4,550,058
-------------- --0
____________
Total. _______
5,116,913
4,684,065
Consumption— North a _______ 2,499,768*< 2 . 216,098)
S o u th ________ 2,398,404/ 4,898,172 2 , 2 0 3 , 4 0 0 4,419,504
Northern mills’ stock end year, .bales.

218,741

264,561

a Takings and consumption include 1,389 bales American cotton returned

and 133,248 bales foreign cotton (Egyptian. Peruvian. &c.- in 1905-06
and 124,465 bales foreign and returned American cotton in 1904-05.

C o n s u m p t io n in th e U n it e d S t a t e s a n d E u r o p e .
U N IT E D

S T A T E S — T h e a c t i v i t y w h ic h w a s s u c h a n o t e ­

w o r t h y f e a t u r e in th e c o t t o n m a n u fa c t u r in g in d u s t r y d u r in g
m o s t o f th e y e a r 1 9 0 4 -0 5

h a s c o n t in u e d w it h v ir t u a lly n o in ­

te r r u p t io n t h r o u g h o u t t h e s e a s o n ju s t c lo s e d .

M oreover, no

s u c h t r o u b le w ith la b o r h a s o c c u r r e d t h is y e a r as full}'- s t o p p e d
o r s e r io u s ly c h e c k e d th e o p e r a t io n o f th e m ills a t F a ll R i v e r
f o r a c o n s id e r a b le p o r t io n o f t h e p r e v i o u s s e a s o n .

C on se­

q u e n t ly , w it h p r o d u c t i v e c a p a c i t y u n h a m p e r e d , w it h n e w
m ills s t a r t in g u p in S o u th e r n lo c a lit ie s a n d a f u ll d e m a n d

T h e f o r e g o in g s h o w s t h a t th e total r ec eip ts at the A tla n tic

f o r th e o u t p u t o f s p in d le s a n d lo o m s , c o n s u m p t io n o f t h e

a n d G u lf s h ip p in g p orts th is y e a r h a v e b e e n 7 ,9 3 5 ,8 6 3 b a le s ,

r a w m a te r ia l h a s p r o g r e s s e d t o a n e x t e n t g r e a te r th a n e v e r

a g a in s t 1 0 ,1 1 9 ,2 2 0 b a le s la s t y e a r a n d 7 ,2 3 5 ,5 6 8 b a le s in

b e fo r e in t h e U n it e d S t a t e s .

1 9 0 3 -0 4 ; a n d t h a t th e e x p o r t s h a v e b e e n 6 ,7 1 6 ,3 5 1 b a le s ,

d e s p it e a g r a d u a l t h o u g h s t e a d y m o v e m e n t in th e d ir e c t io n

a g a in s t 8 ,8 7 7 ,4 0 0 b a le s la s t s e a s o n a n d 6 ,1 3 4 ,1 3 2 b a le s th e

o f r u n n in g o n lig h t e r -w e ig h t g o o d s — t h a t is o n g o o d s w e ig h ­

p r e v io u s

in g m o r e y a r d s t o th e p o u n d .

season ,

G rea t

B r it a in

g e t t in g

out

of

t h is

crop

I f n o w w e a d d th e s h ip m e n t s f r o m

A n d th is h a s b e e n t h e c a s e

T en­

N o la c k o f s u p p lie s o f r a w m a t e r ia l t o f u lly m e e t t h e c o n ­

n e s s e e a n d e ls e w h e r e d ir e c t t o m a n u fa c t u r e r s , a n d S o u th e r n

s u m p t iv e d e m a n d f r o m a b r o a d , a s w e ll a s f r o m h o m e s p in ­

c o n s u m p t io n , w e h a v e th e fo llo w in g a s th e c r o p s t a t e m e n t
f o r th e th r e e y e a r s :

n e rs , h a s b e e n in e v id e n c e .

2 ,9 0 2 ,8 4 6 b a le s .

S om e op erators

s p e c u la t iv e ly

in te r e s t e d in a d v a n c in g p r ic e s f o r th e r a w

m a te r ia l h a v e

a t tim e s a t t e m p t e d t o in c u lc a t e t h e o p p o s it e id e a .
Y e a r E n d i n g S e p te m b e r 1.

1905-06.

m e n ts h a v e b e e n c ir c u la t e d p u r p o r t i n g 't o s h o w t h a t t h e y e a r ’ s

7,235,568

y ie ld , in

Receipts at ports - _______ ______balesShipments from Tennessee, &c., direct to
m ills _____ ___________________________

7,935,863 10,119,220
1,234,215

880,609

Total ___
_______________ _____
Manufactured South, not Included above

8,921,456 11,353,435
2,398,404 2,203,406

8,116,177
2,007,509

985,593

S ta te­

1903-04.

1904-05.

Total Cotton Crop for the Year. - Bales. 1 1,319,860 13,556,841 10.123,686

c o n j u n c t io n

w it h

th e la r g e s u r p lu s

c a r r ie d

over

f r o m th e 1 9 0 4 -0 5 c r o p , w o u ld b e in s u ffic ie n t t o s u p p l y m ill
r e q u ir e m e n t s w it h o u t r e d u c in g v is ib le s t o c k s c lo s e t o a f a m ­
in e p o in t .

T h e u n r e lia b ilit y o f s u c h s t a t is t ic s w e h a v e f r e ­

q u e n t ly p o in t e d o u t .

O f c o u r s e , t h e 1 9 0 5 -0 6 c r o p m a y b e

s t a t e d t o b e n o t f u l l y u p t o e a r ly e x p e c t a t i o n s , b u t i t h a s
T h e r e s u lt o f th e s e fig u r e s is a t o t a l c r o p o f 1 1 ,3 1 9 ,8 6 0
b a le s (w e ig h in g 5 ,7 8 8 ,7 2 8 ,0 7 3 p o u n d s ) f o r t h e y e a r e n d in g

reach ed

1 1 ,3 1 9 ,8 6 0

A u g u s t 31 1 9 0 6 , a g a in s t a c r o p o f 1 3 ,5 5 6 ,8 4 1 b a le s (w e ig h in g

a t o t a l s u p p ly

6 ,9 9 6 ,7 3 1 ,2 3 3 p o u n d s ) f o r th e y e a r e n d in g A u g u s t 31 1 9 0 5 .

b a le s .

NORTHERN

AND

SO U TH ERN

S P IN N E R S ’

t a k in g s

Total crop of the United States, as before stated_________bales.
Stock on hand commencement ol year (Sept. 1 1905) —
At Northern ports_____________________ 144,639
At Southern ports_____________________ 177,953— 322,592
At Northern interior m arkets_________
'
9,438—

11

319.860

Total takings by spinners in the United States for year ending
Sept. 1 1906---------------------------------------------------------------------------Taken by Southern spinners (included in above total__________
Total taken by Northern spinners___________________________

sh ow

th a t

332,030

to ta l

w h i c h , w ith
of

1 2 ,9 5 8 ,3 3 0

p e r io d h a s b e e n 1 2 ,0 6 0 ,5 7 4 b a le s ; in o t h e r w o r d s , t h a t a m o u n t

ta k in g s b y

a b r o a d , o r h a s b e e n b u r n t , o r h a s g o n e t o in c r e a s e m ill h o ld ­
T h is le a v e s th e v is ib le s u p p ly o f

1 9 06

a p p r o x im a t e ly

8 9 8 ,1 5 6

b a le s ,

a t o t a l v e r y fa r awra y f r o m a f a m in e p o i n t , e s p e c ia lly w h e n
w'e c o n s id e r t h a t th e m ills a re q u it e g e n e r a lly r e p o r t e d t o
h a v e v e r y n e a r ly e n o u g h o n h a n d t o c a r r y t h e m u n t il th e
n e w c r o p b e g in s t o m o v e f r e e ly .

I t is fu r t h e r m o r e t o

b e re­

m e m b e r e d t h a t t h e c o m b i n e d v is ib le s t o c k s o f c o t t o n

oth e r

t h a n A m e r ic a n — c o t t o n la r g e ly u s e d o n t h e C o n t in e n t — w e re
a t t h e c lo s e o f A u g u s t a lm o s t
in

1905

and

c o n s e q u e n t ly

as g r e a t as a t t h e s a m e
m u ch

h e a v ie r

th a n

in

d a te
any

e a r lie r y e a r .
T hat

th e

fin a n c ia l

p o s it io n

of

th e

S ou th

has

fu r t h e r

4,852,352
2,398,404

g r e a t ly im p r o v e d , a s a r e s u lt o f t h e v e r y s a t is f a c t o r y r e tu r n s

2,453,948

r e c e iv e d f o r th is 1 9 0 5 -0 6 c r o p , is o n e o f t h e m o s t g r a t if y in g

b Includes 1,389 bales of American

th e

o f A m e r ic a n f o r t h e s e a s o n

A m e r ic a n o n A u g . 31

cotton returned and 100,896 bales foreign, mainly Egyptian, equaling
133,248 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.

fig u r e s

cro p ),

T h e a b s o r p t io n o f A m e r ic a n c o t t o n d u r in g th e lik e

in g s o f th e r a w m a t e r ia l.

Total supply during the year ending-Sept. 1 1906_________
n 651,890
Of this supply there has been exported
to foreign ports during the year______ a6,601,479
Less foreign cotton imported and Ameri­
can cotton returned b _________bales. 134,637— 6,466,842
Sent to Canada direct from W est________
114,872
Burnt North and South c ________________
14,451
Stock on hand end of year (Sept .1 1906) —
At Northern ports___________ ________ _
89,554
At Southern ports_____________________ 108,624— 198,178
At Northern interior markets_________
5,195— 6,799,538

T h ese

( c o m m e r c ia l

h a s g o n e o u t o f s i g h t — b e in g tu r n e d in t o g o o d s a t h o m e o r

in 1 9 0 5 -0 6 h a v e b e e n a s g iv e n b e lo w :

a Not including Canada by rail.

b a le s

th e v is ib le s t o c k o f A m e r ic a n c o t t o n o n S e p t . 1 1 9 0 5 , g a v e

s p in n e r s

in c id e n t s o f t h e s e a s o n .

I t is , o f c o u r s e , im p o s s ib le t o a c ­

c u r a t e ly d e t e r m in e t h e e x a c t m o n e y v a lu e o f t h e c r o p t o
th o s e w h o p r o d u c e d it , b u t a r e la t iv e o r c o m p a r a t iv e id e a
m a y b e a r r iv e d a t b y u s in g th e s e llin g p r ic e s in t h e v a r io u s
m a r k e t s a s a b a s is .

T a k in g t h e q u o t a t io n s a t N e w Y o r k

4,852,352 a s s u c h a b a s is , it w o u ld s e e m t h a t o n a c c o u n t o f t h e h ig h e r
b a le s , o f w h ic h th e N o r th e r n m ills h a v e t a k e n 2,453,948 a v e r a g e p r ic e s s e c u r e d , t h e r e tu r n f r o m th e 1 1 .3 1 9 ,8 6 0 b a le s
b a le s a n d th e S o u th e r n m ills 2,398,404 b a le s .
y ie ld in 1 9 0 5 -0 6 w a s f u lly a s g r e a t a s f r o m th e 1 3 ,5 5 6 ,8 4 1
N o rth

and

S o u th

d u r in g

1 9 0 5 -0 6

h ave reached

b a le s

m a rk eted

531

TH E CHRONICLE,

Sept . S 1906.
in

1 9 0 4 -0 5 .

O r,

s t a r t in g

w it h

th e

A c o n tr o v e r s y o v e r w a g e s, fr o m

ad­

m i t t e d f a c t t h a t 1 9 0 4 -0 5 is k n o w n t o h a v e b e e n a p r o fit a b le

w h ic h

it w a s fe a r e d a

s t r ik e m ig h t r e s u lt , w a s p r e c i p it a t e d b y w e a v e r s in s o m e

y e a r t o th e S o u th e r n p la n t e r , t h e in fe r e n c e w o u ld b e t h a t

N e w B e d f o r d m ills in la t e M a y , b u t th e t r o u b le w a s a d ju s t e d

th e s e a s o n ju s t c lo s e d m u s t h a v e b e e n m o r e s o .

in e a r ly J u ly b y a c c o r d i n g a s m a ll in c r e a s e in w a g e s .

le ss

la n d

under

c u lt iv a t i o n ,

th e

cost

of

F o r , w ith

p r o d u c tio n

w as

F o l­

lo w in g t h e a c t io n o f t h e F a ll R i v e r M a n u fa c t u r e r s ’ A s s o c ia ­

m e a s u r a b ly d e c r e a s e d , a n d w it h le s s t o p i c k a f u r t h e r s a v ­

t io n in r e s t o r in g t h e s c a le o f 1 9 0 4 , M r. M . C . D . B o r d e n

in g r e s u lte d .

O v e r a g a in s t t h is , b u t n o t a c t in g a s a v e r y

m a d e a v o lu n t a r y in c r e a s e (J u ly 9 ) o f 1 0 % in th e c o m p e n s a ­

im p o r t a n t o ffs e t , is t h e s m a lle r a m o u n t o f s u r p lu s s e e d to

t io n o f h is o p e r a t iv e s , g iv i n g th e m t h a t a d v a n t a g e o v e r th e

sell t o t h e o il m ills .
It is a n o t e w o r t h y

h e lp in o t h e r m ills o f t h e c i t y , a n d o n t h e s a m e d a y a t a
f a c t t h a t t h e p r o s p e r it y t h e fa r m e r

n u m b e r o f o t h e r N e w E n g la n d p o in t s a d v a n c e s o f 5 % wyere

h as e n jo y e d is n o t d u e in a n y m e a s u re t o t h e o r g a n iz a t io n s

accord ed .

w h o s e a d v e r t is e d p u r p o s e h a s b e e n

c a r e f o r a n d s a fe ­

q u it e g e n e r a l, w h e r e n o t p r e v i o u s ly g iv e n , a n d a s a r e s u lt

A b s o lu t e l y u n r e lia b le a c r e a g e a n d c r o p

th e y e a r c lo s e s w it h a ll d i s c o n t e n t o n t h e p a r t o f t h e o p e r a ­

g u a r d h is in te r e s t s .

to

e s t im a te s h a v e b e e n t h e f r u it s o f th e p e r n ic io u s a c t i v i t y o f
s o m e o f th e s e b o d ie s th e p a s t s e a s o n o r t w o .
th e

P resid en t, o f

th e

S o u th e rn

C o tto n

w h ile

w ages h ave been

tiv e s s e e m in g ly a lla y e d .
T h e r e is n o t m u c h t o b e s a id o f th e c o n d i t io n s in t h e m a r k e t

In N ov em b er,

A s s o c ia t io n ,

S in c e t h a t t im e in c r e a s e s in

fo r c o t t o n g o o d s .

T r a n s a c t io n s g e n e r a lly h a v e b e e n o f v e r y

th u s u n d e r e s t im a t in g th e c r o p , is s u e d a p r o c l a m a t io n a d ­

s a t is f a c t o r y v o lu m e t h r o u g h o u t th e y e a r ; o n p r ic e b a s e s , a

v is in g p la n t e r s t o h o ld t h e r e m a in d e r o f t h e ir c o t t o n f o r 15

g o o d m a r g in o f p r o f it h a s e x is t e d in e s t a b lis h m e n t s w o r k ­

c e n ts p e r p o u n d .

T h e N a t io n a l G in n e r s ’ A s s o c ia t io n , w ith

in g o n th e fin e r g r a d e s o f g o o d s , a n d t h e y h a v e c o n s e q u e n t ly

h e a d q u a r t e r s a t D a lla s , T e x a s , d id e v e n b e t t e r , is s u in g o n

d o n e r e la t iv e ly m u c h b e t t e r t h a n t h o s e r u n n in g o n c o a r s e r

D ec. 7

m ak es.

a n e s t im a t e c la im e d t o b e b a s e d

o n r e p o r t s fr o m

The

sea son

c lo s e s

w it h

m ills

w e ll

under

ord ers,

e v e r y p o s t o ffic e in th e b e lt a n d p la c in g t h e c r o p a t 9 ,6 2 3 ,0 0 0

m a n y o f th o s e o n fin e g o o d s b e in g f u lly e n g a g e d f o r m o n t h s

b a le s . A s th e D e p a r t m e n t o f A g r ic u lt u r e e s t im a t e , p u b lis h e d

ahead.

a b o u t t h e s a m e t im e , in d ic a t e d a la r g e r c r o p , th e G o v e r n ­

o f th e h e a v ie r w e ig h t s — w h ic h i t w a s fe a r e d w o u l d s u ffe r

m e n t w a s p r o m p t ly a c c u s e d o f b a d f a i t h .

c o n s id e r a b le d im in u t io n a s a r e s u lt o f t h e t h r e a t e n e d b o y ­

T h e in t e r e s t s o f

B u s in e s s f o r

C h in a — la r g e ly

m ade

up,

o f cou rse,

th e S o u th e r n p la n t e r c a n n e v e r b e p r o p e r l y s e r v e d b y m is ­

c o t t , a ft e r m a k in g a g a in o f g r a t if y in g p r o p o r t io n s la s t y e a r ,

r e p r e s e n t a t io n .

h a s m a d e a fu r t h e r s m a ll g a in t h e c u r r e n t y e a r , m u c h t o

rep orts

I n v a r i a b l y , in th e c o u r s e o f t i m e , in c o r r e c t

e m a n a t in g

erron eou s an d
th e

t e m e r it y

fro m

any

m is le a d in g .
to

d is a g re e

to

abuse

a re s u b j e c t e d

a s s o c ia t io n

p rove

to

be

th e s a t is fa c t io n o f t h o s e in t e r e s t e d in S o u th e r n m ills .
T h e p r in tin g c lo t h s it u a t io n a t F a ll R i v e r h a s , o n th e w h o l e ,

N e v e r t h e le s s , t h o s e w h o h a v e
w it h

t h e ir

th e

o ffic ia ls

by

p r o n u n c ia m e n t o s

tu rn ed

of

g r u n t le d s t a t e o f la b o r in m ills w o r k in g o n th e c o a r s e r m a k e s .

th e

o r g a n iz a ­

out

q u it e

s a t is f a c t o r y ,

n o t w it h s t a n d in g

th e

d is ­

O n S e p t. 1 1 9 05 th e s t o c k o f g o o d s a t m ills w a s s a id t o b e

t io n s .
T h e g o o d se n se d is p la y e d b y t h e p la n t e r s t h e m s e lv e s th e

p r a c t ic a lly e x h a u s t e d a n d p r o d u c t i o n

p a s t t w o o r t h r e e s e a s o n s h a s d o n e m o r e t o i m p r o v e th e ir

m o n th s a h ea d .

c o n d i t io n

under co n tra ct

tw o

S in c e t h a t t im e m a c h in e r y h a s b e e n q u it e

th a n a ll s p e c ia l o r g a n iz a t io n s c o u ld a c c o m p lis h .

fu lly e m p lo y e d , a lt h o u g h m a in ly o n a c c o u n t o f la c k o f o p ­

T h e la w s o f s u p p ly a n d d e m a n d a re t h e g u id e s t o tie t o ,

e r a tiv e s th e y e a r ’ s p r o d u c t i o n h a s r e a c h e d n o t o v e r n in e -

a n d th e p la n t e r s , b y k e e p in g t h e ir h a n d s o n t h e p u ls e o f

t e n t h s o f th e n o r m a l a m o u n t .

th e m a r k e t , c a n b e t t e r ju d g e w h e n t o m a r k e t th a n b y f o l ­

h a n d s o n A u g . 31 is e s t im a t e d t o b e p r a c t ic a l ly n il a n d th e

lo w in g a n y a d v ic e f r o m in te r e s t e d p a r t ie s .

o u t p u t w e ll e n g a g e d f o r s e v e r a l m o n t h s t o c o m e .

I n th e m a n u fa c t u r in g b r a n c h e s o f t h e c o t t o n

t r a d e , as

T h e s t o c k o f g o o d s in fir s t
A t th e

o p e n in g o f th e s e a s o n r e g u la r 6 4 x 6 4 p r in t in g c lo t h s r u le d

a lr e a d y s t a t e d , n o a d v e r s e f a c t o r s h a v e b e e n a t w o r k w o r t h y

a t 3 Yi c e n t s p e r y a r d

o f m o r e t h a n p a s s in g n o t ic e .

o f O c t o b e r , w h e n a n a d v a n c e t o 3^ 8 c e n t s o c c u r r e d .

F r ic t io n w it h la b o r h a s b e e n

im m in e n t a t t im e s , b u t t h e r e h a v e b e e n n o s t r ik e s o f e v e n

tra d e

lo c a l im p o r t a n c e

t a t io n

to a c t i v i t y .

and

c o n s e q u e n t ly

no

m e n t io n a b le

ch eck

I t w a s fe a r e d in t h e e a r ly fa ll t h a t th e s p ir it o f

u n re s t a t F a ll R i v e r

w h ic h f o u n d e x p r e s s io n o n O c t . 8 in a

and

h ig h e r

w as

an d to

a n d w e r e s o q u o t e d u n t il t h e fir s t

co tto n

m a rk ed

up

s e r v in g
to

3%

3 1 3 -1 6 c e n t s s h o r t ly

g o o d s , p r ic e s la t e r d e c lin e d ,

t o J u ly 2 5 1 9 0 4

th e m id d le

s h o r t c o n t r o v e r s y m a t t e r s w e re a d ju s t e d s a t is f a c t o r ily .

At

A c tiv e

a s t im u lu s , t h e q u o ­

cen ts

e a r ly

in

D ecem ber

a ft e r t h e t u r n o f t h e y e a r .

W it h d e c lin in g c o t t o n a n d a n e a s in g o f f in t h e d e m a n d f o r

r e q u e s t f o r a r e s t o r a t io n o f th e w a g e s c a le a s it e x is t e d p r io r
m ig h t c u lm in a t e in a s t r ik e , b u t a fte r a

as

of

F ebru ary,

r e c e d in g

d r o p p in g

to

to

3%

3%

cen ts a b o u t

cen ts

1 a n d lo s in g a n o t h e r 3ds c e n t o n J u n e 1 2 .

In

on

M ay

la t e J u n e

first m a n u fa c t u r e r s o ffe r e d a d ir e c t in c r e a s e in w a g e s a n d a

t h e r e w a s a f u r t h e r d e c lin e t o 3 ^

p r o fit -s h a r in g p la n , w h ic h , h o w e v e r , d id n o t m e e t w it h th e

th e m a r k e t c o n t in u e d u n t il A u g u s t 3 1 .

f a v o r o f th e o p e r a t iv e s a n d w a s r e fu s e d .

w ith th e o u t lo o k e n c o u r a g in g f o r a g o o d b u s in e s s in p r in t

F u rth er con ces­

s io n s b y th e m ill-o w n e r s , c o v e r in g a w a g e s c a le b a s e d u p o n
s u b m it t e d ;

t h e y w e re m o r e

T h e s e a s o n c lo s e d

c lo t h s a n d o t h e r s t a p le c o t t o n s d u r in g 1 9 0 6 -0 7 .

th e m a r g in b e t w e e n th e c o s t o f c o t t o n a n d t h e s e llin g v a lu e
o f p r in t in g c lo t h s , "were th e n

c e n t s a n d a t t h a t le v e l

F u r t h e r e x p a n s io n
to

b e n o te d

in

our

c o tto n -g o o d s

t h e p a s t s e a s o n , a lt h o u g h

e x p o r t t r a d e is

t h e in c r e a s e

over

f a v o r a b l y r e c e iv e d b y th e m e n a n d fin a lly a c c e p t e d e a r ly in

1 9 0 4 -0 5 is c o n s p ic u o u s l y s m a ll as c o m p a r e d w it h t h e g a in

N ovem ber.

th a t

T h u s m a tt e r s s t o o d u n t il la t e in A p r il , w h e n

year

e x h ib it e d

over

any

th a t

preced ed

it .

But

s o m e d is c o n t e n t o v e r t h e w o r k in g o f th e m a r g in p la n w a s

it s h o u ld n o t b e f o r g o t t e n t h a t t h e p h e n o m e n a l a u g m e n t a ­

ap p a ren t;

in

t io n in s h ip m e n t s in 1 9 0 4 -0 5 w a s d u e a lm o s t w h o l ly t o th e

n ou n ced ,

th e

p r in t in g

th e

h ig h

c lo t h s

a t iv e s .
at

M ay

d is s a t is fa c t io n

p r ic e

w o r k in g

of cotton

to

becam e
and

m ore

lo w e r

p ro­

v a lu e

of

th e d is a d v a n t a g e o f th e o p e r ­

M o r e o v e r , a d v a n c e s in w a g e s v o lu n t a r ily a c c o r d e d

oth er

p o in t s

in

N ew

E n g la n d

d id

t e m p e r o f th e F a ll R i v e r o p e r a t iv e s .

not

im p r o v e

g re a t in cr e a s e in t a k in g s f o r C h in a , f r o m w h ic h c o u n t r y t h e
d e m a n d in t h e

p r e c e d in g

sea son

(1 9 0 3 -0 4 )

t o c o m p a r a t iv e ly m e a g r e p r o p o r t io n s .

had

sh run k en

W h e n w e w r o t e la s t

th e

S e p te m b e r it w a s fe a r e d t h a t t h e b o y c o t t i n g o f A m e r ic a n

I t th u s c a m e a b o u t

g o o d s in r e ta lia t io n f o r th e m a n n e r in w h ic h o u r o ffic ia ls

t h a t a t th e c lo s e o f M a y t h e T e x t ile C o u n c il o f F a ll R i v e r ,

w ere c la im e d t o b e a d m in is t e r in g th e C h in e se E x c lu s io n A c t

in a c o m m u n ic a t io n t o th e m a n u fa c t u r e r s , c a lle d a t t e n t io n

w o u ld w o r k d e c id e d in ju r y t o t h is im p o r t a n t a n d g r o w in g

to th e u n s a t is fa c t o r y w o r k in g o f

t h e s lid in g -s c a le s y s t e m ,

bran ch

of

a n d r e q u e s t e d a c o n fe r e n c e f o r th e p u r p o s e o f d e v is in g a

th o u g h

th e

b e t t e r w a g e s c a le .
in

fin e - g o o d s

s h o u ld

have

R iv e r ;

at

T h e m a n u fa c t u r e r s a r g u e d t h a t in cr e a s e s

m ills ,
no

th e

w h ere

m a r g in s

b e a r in g o n

sa m e

t im e

of

p r o f it

w e re

t h e g e n e r a l s it u a t io n

th e y

o ffe r e d

to

la r g e ,

R e s u lt s

s till

have

e x is t s

in

proven

C h in a

th a t,

tow a rd s

In

th e

fis ca l

year

1 9 0 2 -0 3 ,

s h ip m e n t s

to

C h in a

F all

r e a c h e d 2 7 7 ,6 7 1 ,5 0 0 y a r d s , b u t in th e s u c c e e d in g s e a s o n th e

gu a ra n tee

5%

t o t a l d r o p p e d to o n ly 7 6 ,8 8 6 ,5 3 4 y a r d s .

w as e x ce e d e d

w h ich

th e fu ll a m o u n t .

tra d e .

fe e lin g

in

ever,

a llo w

h o s tile

A m e rica n g o o d s , th e b o y c o t t h as b e c o m e o f v e r y little i m p o r t ­
an ce.

w e e k ly , w h e th e r e a r n e d o r n o t o n m a r g in , a n d w h e n 5 %
to

o u r fo r e ig n

T h is

o ffe r

w as

a

record

to ta l

of

4 7 4 ,9 0 9 ,5 1 0

th is s e a s o n ’s a g g r e g a te m o d e r a t e ly
4 9 8 ,5 2 1 ,4 0 2

yards.

T h ere

L ast year, h ow ­

yards

>s c a u s e

w as

reach ed ,

e x c e e d s , h a v in g

r e je c t e d a n d o n J u n e 21 th e A s s o c ia t io n c o n c e d e d th e d e ­

been

m a n d s o f th e o p e r a t iv e s , r e s t o r in g th e w a g e s c a le t o th e b a sis

in th e s t e a d y e x t e n s io n o f o u r e x p o r t s t o th e W e s t I n d ie s

fo r

h o p e fu ln e s s

in f o r c e p r io r to J u ly 2 5 1 9 0 4 , th e c h a n g e t o b e e ffe c t iv e

a n d C en tra l A m e r ic a , th e a g g r e g a te s h ip m e n t s h a v in g b e e n

J u ly 2 .

m u ch

T h e 1904 sc a le h a d b e e n r e s to r e d th e p r e v io u s O c t o ­

b e r in th e F a ll R i v e r Ir o n W o r k s C o , m ills , c o n t r o lle d b y
M r. M . C. D . B o r d e n .

h e a v ie r th a n

la s t y e a r ,

r e a c h in g 7 9 ,4 4 3 ,5 7 9 y a r d s ,

a g a in s t 6 9 ,6 8 4 ,8 2 2 y a r d s in 1 9 0 4 -0 5 a n d b u t 4 7 ,7 5 5 ,6 9 1 y a r d s
in

1 9 0 3 -0 4 .

R etu rn s

c o v e r in g

our

b u s in e s s

w ith

S o u th

TH E CHRONICLE.

532

A ll

th e

[V O L . L X X X I1I.

le a d in g

cen tres

of

cotton

m a n u fa c t u r e

at

th e

A m e r ic a a r e , o n t h e o t h e r h a n d , r a th e r d is a p p o i n t in g .

In

1 9 0 3 -0 4

to

S o u t h r e p o r t im p o r t a n t a d d it i o n s t o s p in d le s d u r in g 1 9 0 5 -0 6 ,

5 3 ,0 0 1 ,9 3 6 y a r d s , a n d r o se t o 5 7 ,0 4 9 ,3 7 6 in 1 9 0 4 -0 5 , o n ly

g r e a t e s t p r o g r e s s b e in g s h o w n , as h e r e t o fo r e , in th e C a r o ­

t o d r o p t o 5 1 ,0 7 2 ,3 1 0 y a r d s th e p a s t s e a s o n .

lin a s a n d G e o r g ia .

th e

m ovem ent

in

th a t

f o r J a p a n h a s n a t u r a lly s u n k t o

d ir e c t io n

a m o u n te d

T he dem and

u n im p o r t a n t p r o p o r t io n s

S o m e n e w f a c t o r ie s h a v e b e g u n o p e r a t io n s

v e r y r e c e n t ly , m a n y o t h e r s a re n e a r in g c o m p le t io n , a n d o n

b e c a u s e o f th e r e s u m p t io n o f m ill a c t i v it y in th a t c o u n t r y s in c e

s t ill o th e r s w o r k is y e t in th e in itia l s t a g e s .

th e c e s s a t io n o f h o s tilit ie s w ith R u s s ia .

p la n in a u g u r a t e d

A c o n s p ic u o u s d e ­

tw e n ty years ago

F o llo w in g th e

and v ery

s u c c e s s fu lly

c r e a s e in t h e v o lu m e o f e x p o r t s t o th e P h ilip p in e s is d o u b t ­

p u r s u e d e a c h y e a r s in c e , w e h a v e w it h in th e p a s t f e w w e e k s

le s s in lik e m a n n e r e x p la in e d .

s e c u r e d q u it e fu ll,

S h ip m e n t s t o th e E a s t I n ­

d ie s , A u s t r a lia , o t h e r A s ia a n d O c e a n ic a a n d A f r i c a s h o w
g r a t ify in g

in cr e a s e s .

In

th e

a g g r e g a te ,

th e

ex p orts

of

d e t a ile d in f o r m a t io n

b e a r in g u p o n

o p e r a t io n a n d d e v e lo p m e n t o f S o u t h e r n m ills .

th e

I t n a t u r a lly

fo llo w s , w ith c o n t in u e d e x p a n s io n in p r o g r e s s , t h a t t h e r e is

g o o d s r e p o r t e d b y q u a n t it y in 1 9 0 5 -0 6 r e a c h e d 7 1 1 ,4 9 3 ,0 5 4

a c o n s id e r a b le in c r e a s e f r o m

y a r d s a n d in th e p r e v io u s y e a r 6 9 4 ,5 0 0 ,7 1 5 y a r d s , a n i n ­

ta ile d in g a t h e r in g a n d c o m p ilin g th e d a t a , b u t th e s p ir it

c re a s e o f n e a r ly 2 ^ % .

in w h ic h o u r in q u ir ie s a re m e t le n d s p le a s u re t o th e w o r k .

I n v a lu e , o w in g to h ig h e r p r ic e s

y e a r t o y e a r in th e la b o r e n ­

th e

T h e in fo r m a t io n g iv e n b y e a c h m ill c o v e r s n u m b e r o f s p in ­

W e s u b jo in a c o m p ila t io n s h o w in g th e v a lu e o f t h e e x p o r t s

n e w m ills s t a r t e d a n d a d d it io n s t o o ld p la n t s ; a ls o t h e a c tu a l

o f c o t t o n g o o d s b y p r in c ip a l c o u n tr ie s f o r e a c h o f t h e la s t

c o n s u m p t io n o f c o t t o n f o r th e y e a r , th e a v e r a g e c o u n t o f y a m

f o u r fis ca l y e a r s a n d a t th e f o o t o f th e t a b le g iv e th e t o t a ls

s p u n , a n d e x t e n s iv e d e t a ils a s t o n e w m ills , w h e t h e r a lr e a d y

o b t a in e d ,

th e

c o m p a r is o n

is

r a th e r

m ore

fa v o r a b le ,

d les a n d lo o m s , a c t iv e o r id le d u r in g th e s e a s o n , in c lu d in g

g a in r e a c h in g 6 . 6 % .

u n d e r c o n s t r u c t io n o r m e r e ly p r o je c t e d , a n d c o n t e m p la t e d

f o r e a c h s ix m o n t h s .
EXPOR TS

OF

DOMESTIC

COTTON
YE AR S.

1905-06.
$
Europe___________________ 3,668,877
C a n ad a....... ................
3,587,567
West Indies____________ I
Central America_______ j 5,750,201
South America___________ 3,672,876
Chinese Empire__________ 29,814,075
All Others_________________ 6,450,637

M ANUFACTURES— FISCAL
1903-04.
$
2,771,318
3,132,254

1902-03.
$
2,698,686
3,046,125

5,213,225
4,184,474
28,017,190
6,790,208

3,951,371
3,698,392
4,138,970
4,711,408

3,574,597
4,007,231
13,719,413
5,170,252

Total year_____________52,944,033

49,666,080

22,403,713

32,216,304

First 6 months__________ 28,424,764
Second 6 months________24,519,269

21,629,844
28,036,236

10,422,940
11,980,773

15.518,027
16,698,277

The

o u t lo o k

fo r

th e

im m e d ia t e

fu t u r e

of

th e

exp ort

b r a n c h o f t h e tr a d e se e m s a t p r e s e n t t o b e f a ir ly e n c o u r a g ­
in g .

N o im p o r t a n t p o lit ic a l d is t u r b a n c e s t h r e a t e n t h e s t a ­

b i lit y o f tr a d e c o n d it io n s in a n y d ir e c t io n e x c e p t

R u s s ia ,

a n d f r o m t h a t c o u n t r y th e r e is n o c a ll f o r A m e r ic a n c o t t o n
goods.

T h r o u g h o u t th e U n it e d S ta te s m ills a re n o w fu lly

e m p lo y e d a n d in m o s t ca se s w e ll u n d e r c o n t r a c t f o r fo r w a r d
d e li v e r y , w h ic h is p r e s u m p t iv e e v id e n c e t h a t fo r e ig n d e m a n d
as

w e ll

as

th a t

fo r

hom e

T h e a g g r e g a te s o f o u r d e ­

ta ile d r e tu r n s , a r r a n g e d b y S t a t e s , is as f o llo w s .

-1904-05.
$
2,431,642
3,029,341

E x p o r t s to —-

e x p a n s io n in e x is t in g f a c t o r i e s .

c o n s u m p t io n

is

h e a lt h y .

Un­

d e r th e c ir c u m s t a n c e s , i t d o e s n o t a p p e a r u n r e a s o n a b le t o
a n t ic ip a t e a fu r t h e r a u g m e n t a t io n in th e v o lu m e o f o u r f o r ­

E s t a b lis h ­

m e n ts t h a t h a v e b e e n id le a ll th e s e a s o n a n d n o t lik e ly to
resu m e o p e r a t io n s a re e x c lu d e d f r o m th e c o m p il a t i o n :
N u m ber o j

C onsu m ption .
A v er­
age
N o.
Yam .

S p in d les.

Southern
States.

M ills.
R un ning.

A liv e .

Virginia__
No. Carol’a
So. Carolina
Georgia__
Florida___
Alabama . .
Mississippi.
Louisiana .
Texas ___
Arkansas. .
Tennessee .
Missouri__
Kentucky .

L oom s
R un.

263.415 239,081! 6,820
17
245 2.381.4142,330,027 45,596
136 3.355.0103,198,206 73,539
125 1,587,4701,526,895 30,132
‘ 60

877.6061 853,666 15,731
162,864 147,398 3.940
92,700,
61,700 1 , 2 0 0
86,160'
86,160 1.977
200
17,6241
13,500
252,184! 204.678 3,971
361
14,8961
14,704
89,864
86,574 1,481

22

4
17
3
29
3
6

Totals
1905-06 667 9,181,2078,762,589 186,948

iA v'age
B a les.

\ N et
W e i’hi

P ou n d s.

23J^
17

67,8634.83.13
690,499 469.40
691.663475.71
524,199 475.29

32.786,211
324,164,282
329.040,832
249,148,455

16 H
19
13
15
16
18
15K
14^

240,550488.77
43.637493.73
16,141 495.07
34.686 500.72
2,980 500.19
55.830 486.19
4.926492.10
25,430490.72

117,574,394
21.544,792
7,990,919
17,368,090
1,495,650
27.143.887
2,424,094
12,479,074

ISVi
20

195-6 2,398.404 476.631 1,143,160,680
2.203.406 480.241 1.058,159,131

1904-05 659 8,747,810 8.050,879174,324

19

1903-04 628 7.963,866;7,387,358162,345

1956 2,007.509475.111

953,774,158

1902-03 594 7.039,633 6,714,589153,748

1914 2,049,902 479.85

983.649,984
915,078,408

e ig n s h ip m e n t s o f c o t t o n m a n u fa c t u r e s in th e s e a s o n b e g in ­

1901-02 570 6,408,964 6,179,421|142,053

19

1,942,881470.99

n in g w it h S e p t e m b e r 1 9 0 6 .

1900-01 531 5,819,835 5,473,883 122,902

19

1,667.012 472.901 788,335.696

1899-00 441 4,540,515 4,270,759 105,990

18% 1,599.947 468.99

750.365,237

1898-99 414 3,987,735 3,832,201 95.701

IS

1,400.026467.44

654,435,025

1897-98 391 3,670,290 3,574,754 91.829

18M 1.227,939 470.04

577.186,180

W it h r e g a r d t o th e s p in n in g c a p a c it y o f t h e c o t t o n m ills
o f t h e U n it e d S t a t e s a fe w w o r d s w ill s u ffic e .

D e v e lo p m e n t

h a s th e p a s t s e a s o n , a s in p r e v io u s y e a r s , b e e n m a in ly a t th e
S o u t h , b u t 1 9 0 5 -0 6 h a s w itn e s s e d m o r e a c t i v i t y in e x t e n d ­
in g th e m a n u fa c t u r e o f c o t t o n g o o d s N o r t h th a n f o r s o m e
t im e .

S u b s t it u t io n o f m o d e r n m a c h in e r y f o r o ld

h a s a lso

b e e n a f e a t u r e , in c r e a s in g t h e e f f ic ie n c y , a n d t h e q u a n t i t y o f
fin e g o o d s f o r c o a r s e r in

N o r t h e r n fa c t o r ie s ; b u t t h e r e h a v e

b e e n o n ly v e r y m o d e r a t e a d d it io n s t o t h e n u m b e r o f s p in d le s
in

a n y r e c e n t y e a r u n t il 1 9 0 5 -0 6 .

At

th e

S ou th ,

how ­

e v e r , t h r o u g h th e s t a r t in g u p o f n e w m ills a n d a d d it i o n s t o
o ld e r e s t a b lis h m e n t s , th e a g g r e g a te o f s p in d le s is b e i n g c o n ­
s id e r a b ly

in c r e a s e d

fr o m

sea son

to

season .

T h is

fa c t

is

d is c lo s e d b y o u r la t e s t in v e s t ig a t io n s , a lt h o u g h , f o r r e a s o n s
g iv e n b e lo w in th is r e v ie w , th e in c r e a s e d c a p a c it y fa ils o f
fu ll r e fle c t io n in t h e v o lu m e

o f c o n s u m p t io n .

The

u su a l

s t a t e m e n t o f s p in d le s in th e U n it e d S t a t e s as c o m p il e d b y u s
is as fo llo w s :
S p in d le s —
1905-06.
North....... ...........................15,600,000
S o u t h ................................. 9,181,207

1904-05.
15,325,000
8,747,810

1903-04.
15,250,000
7,963,866

1902-03.
15,200,000
7,039,633

Total spindles................ 24,781,207

24,072,810

23,213,866

22,239,633

S O U T H E R N c o t t o n m ills , as a lr e a d y in d ic a t e d , h a v e e x p e r i­
e n c e d a s e a s o n o f c o n t in u e d a c t i v it y a n d p r o s p e r it y .

T h e re

h a s n o t b e e n a v e r y m a r k e d in cr e a s e in th e v o lu m e o f c o t t o n
c o n s u m e d , a lt h o u g h th e a m o u n t o f th e s t a p le u s e d e x h ib it s a

N o te. — 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.

F rom

th e s e

r e tu r n s w e

le a r n

t h a t in

p r a c t ic a l ly

r a w m a t e r ia l, th e g r e a t e s t in c r e a s e a s c o m p a r e d w it h 1 9 0 4 -0 5
h a v in g b e e n in N o r t h C a r o lin a .

T h e n e t r e s u lt f o r th e se a ­

s o n in all th e S o u th e r n S t a t e s is a n e x c e s s o f 8 5 ,0 0 1 ,5 4 9
p ou n d s.

S p in d le s

have

g a in e d

in

num ber

4 3 3 ,3 9 7 ,

and,

as e v id e n c e o f th e p o l i c y t o b u il d la rg e r m ills , i t m a y b e
s t a t e d t h a t t h e a v e r a g e n u m b e r o f s p in d le s p e r m ill is n o w
1 3 ,7 6 5 , a g a in s t 1 3 ,2 1 1 a y e a r a g o , 1 2 ,6 9 1 in 1 9 0 3 -0 4 , o n ly
1 1 ,8 5 5 in 1 9 0 2 -0 3 a n d b u t 7 ,8 7 0 a d e c a d e a g o .

A n a n a ly ­

sis o f th e r e p o r t s a t h a n d d is c lo s e s th e f a c t t h a t 14 o l d m ills ,
w it h 8 1 ,9 2 4 s p in d le s , h a v e p e r m a n e n t ly g o n e o u t o f o p e r a ­
t i o n , a n d 22 m ills , r u n n in g 1 1 3 ,8 1 4 s p in d le s , h a v e s t a r t e d u p ,
s h o w in g a n e t g a in o f 8 m ills , o r 3 1 ,8 9 0 s p in d le s , f o r t h e s e a ­
son .

T h is , h o w e v e r , d o e s n o t f u l l y c o v e r t h e a d d it io n t o

c a p a c it y in 1 9 0 5 -0 6 , f o r t h e e q u ip m e n t o f o ld m ills h a s b e e n
in c r e a s e d t o th e e x t e n t o f 4 0 1 ,5 0 7 s p in d le s .

C o n s e q u e n t ly ,

th e t o t a l n e t g a in o f s p in d le s fo r th e s e a s o n h a s b e e n 4 3 3 ,3 9 7
s p in d le s .
The

ten d en cy

to w a rd

s till

fu r t h e r

s a t is f a c t o r y g a in o v e r th e p r e v io u s s e a s o n . I t is o f c o u r s e t o b e

m a n u fa c t u r in g in th e S o u t h is a

r e m e m b e r e d t h a t , w h ile s p in d le s r u n n in g s h o w a m a te r ia l e x ­

in fo r m a t io n

at

hand

and

e x p a n s io n o f c o t t o n -

p r o m in e n t

c e s s o v e r 1 9 0 4 -0 5 , m o s t o f th e a d d it io n a l o n e s a re c o n t a in e d

in te r e s t e d in t h e in d u s t r y
n a tu r a l

a d v a n ta g es, to

c o n t in u e t o d e v e lo p .

s e a s o n ; c o n s e q u e n t ly t h e r a t io o f g a in in m a c h in e r y is g r e a te r

d e n o te

th a t

c o n t a in in g

th a n th e in cr e a s e in a m o u n t o f r a w m a te r ia l u s e d .

ex p ected

3

to

of

th e

t h a t th e s e c t io n is s u r e , w it h h e r
O ur

2 0 ,1 2 0

b e g in

o p e r a t io n s

w it h in

and

th a t b e fo r e

next

th e

a d v ic e s

s p in d le s ,
next

oth er

are
or

fo u r

n e w m ills p a r t ia lly id le in s o m e d is tr ic ts o f th e C a ro lin a s

r u n n in g 1 2 5 ,0 0 0 s p in d le s , w ill b e c o n t r ib u t in g t o th e w o r l d ’ s

a n d G e o r g ia
b e e n in s t a lle d

o u t p u t o f y a r n s o r c lo t h .
a c t u a lly

su m m er

th ree

t h e r m o r e , in a b ilit y t o s e c u r e s u ffic ie n t la b o r h a s k e p t m a n y
A t th e s a m e t im e , th e n e w s p in d le s h a v in g
th e ir fu ll o p e r a t io n w ill te ll in th e r e tu r n s

m o n th s,

m ills ,

fe a t u r e

d e m o n s t r a t e s t h e fa it h o f th o s e

in n e w m ills w h ic h h a v e o n ly b e e n in o p e r a t io n p a r t o f th e
F u r­

ev ery

S t a t e th e r e h a s b e e n a n a u g m e n t a t io n in c o n s u m p t io n o f t h e

m ills ,

A d d it io n s t o o ld m ills , in c o n t e m ­

p la t io n

or

d e c id e d

f o r t h e s e a s o n o f 1 9 0 6 -0 7 , b a r r in g u n t o w a r d c ir c u m s t a n c e s

4 0 0 ,0 0 0

s p in d le s , g iv in g

upon,

cover

a p p r o x im a t e ly

c h e c k in g c o t t o n m a n u fa c t u r in g .

t io n o f 5 4 5 ,1 2 0 s p in d le s w it h in th e n e x t t w e lv e m o n t h s .

a lt o g e t h e r a p r o b a b le

a u g m e n ta ­

Sept . 8 1906.)

533

TH E CHRONICLE.

E U R O P E — T h e s e a s o n o f 1 9 0 5 -0 6 h a s, lik e its p r e d e c e s s o r ,

still a d h e r e w it h u n s h a k e n fa ith t o th e d o c t r in e s in c u lc a t e d

b e e n o n e o f a lm o s t u n b r o k e n p r o s p e r it y f o r th e c o t t o n tr a d e

b y C o b d e n a n d B r ig h t a n d v ie w w it h lit tle a p p r e h e n s io n th e

o f E u r o p e , a p r o s p e r it y th e m o r e r e m a r k a b le w h e n th e c o m ­

e ffo r t s

p a r a t iv e ly h ig h p r ic e s o f th e r a w p r o d u c t w h ic h h a v e r u le d

th r o u g h a g r ic u lt u r e , tr a d e g e n e r a lly , b y in c r e a s e d p r o t e c t iv e

th r o u g h o u t th e e n tir e s e a s o n a re t a k e n in t o c o n s id e r a t io n .

d u t ie s , th e im m e d ia t e e f f e c t o f w h ic h a p p e a r s to h a v e b e e n

put

fo rth

by

G erm an y

to

fo s t e r

a g r ic u lt u r e

and,

T h a t a ra te o f c o n s u m p t io n w h ic h is w it h o u t p r e c e d e n t

t o a d v a n c e th e p r ic e s o f f o o d - s t u f f s , e n t a ilin g t h e n e c e s s it y

s h o u ld h a v e b e e n m a in t a in e d t h r o u g h o u t t h e y e a r u p o n a

o f a h ig h e r r a te o f r e m u n e r a t io n t o th e w a g e -e a r n in g cla s s

b a s is o f 6 d . p e r p o u n d fo r A m e r ic a n c o t t o n , w it h , s p e a k in g

a n d a c o n s e q u e n t in c r e a s e in

b r o a d ly , e n tir e ly s a t is f a c t o r y r e s u lts t o b o t h s p in n e r s a n d

as b e a r in g u p o n th is m u c h - d e b a t e d q u e s t io n , it is w o r t h y o f

th e

cost

of

p r o d u c tio n .

As

m a n u fa c tu r e r s , in d ic a t e s c o n c lu s iv e ly a n a lm o s t in s a tia b le

n o t e t h a t , w h ile th e in cr e a s e in s p in d le s d u r in g th e p a s t t w o

d e m a n d u p o n th e lo o m s a n d s p in d le s o f th e w o r ld .

y e a r s in G r e a t B r it a in is c a lc u la t e d t o r e a c h a t o t a l o f fiv e

R u s s ia ,

w h e re th e s tru g g le b e t w e e n d e s p o t is m a n d d e m o c r a c y p a r a ­

t o s ix m illio n s , e it h e r a lr e a d y r u n n in g o r in c o u r s e o f c o n ­

ly z e d tr a d e , c o n s t it u t in g a f o r c e d e x c e p t i o n .

s t r u c t io n , th e t o t a l in c r e a s e in th e r e s t o f E u r o p e , w o r k in g

F o r th e ca u s e s w h ic h le d u p t o s u c h a d e m a n d it is n e c e s ­
s a ry to g o b a c k t o th e f o u r s e a s o n s e n d in g w it h t h a t o f 1 9 0 3 -0 4 ,

u n d e r p r o t e c t iv e

d u t ie s ,

is n o t

c a lc u la t e d

to

reach

m ore

t h a n o n e a n d a h a lf m illio n s p in d le s .

c r o p s d e p le t e d

T h e fir s t m e e t in g o f t h e I n t e r n a t io n a l C o m m it t e e o f th e

s t o c k s all o v e r th e w o r ld , w h ile p o lit ic a l a n d la b o r w a r s e n ­

T e x t ile W o r k e r s ’ F e d e r a t io n , a p p o i n t e d la s t y e a r a t M ila n ,

ta ile d u n p r o fit a b le tr a d e a n d m a t e r ia lly le s s e n e d t h e s p e n d ­

w a s h e ld a t B ru sse ls in A p r il , a n d h a d a s its m a in o b j e c t s

d u r in g w h ic h p e r io d a serie s o f s h o r t c o t t o n

in g p o w e r o f th e p e o p le ; s o t h a t , w h e n th e r e v iv a l in tr a d e

th e d r a w in g u p o f r e g u la t io n s f o r t h e c o n d u c t o f c o n g r e s s e s

first b e c o m in g a p p a r e n t in th e c o t t o n in d u s t r y d u r in g 1 9 0 4 ,

a n d d e fin in g o f th e o b j e c t s o f th e F e d e r a t io n , w it h th e m e t h ­

w h ic h w a s a id e d in c a lc u la b ly b y a h u g e A m e r ic a n c r o p , a n d

o d s f o r a t t a in in g t h e m , th e le a d in g

w a s fo llo w e d u p b y a w e ll-m a in t a in e d

G re a t B r it a in a n d G e r m a n y .

e x p a n s io n

in

o th e r

g r e a t in d u s tr ie s , s p in n e r s a n d m a n u fa c t u r e r s w e re c a lle d u p o n

p a r t b e in g

ta k e n

by

T h e F e d e r a t io n is a n a lm o s t

id e n tic a l la b o r c o u n t e r p a r t o f th e C o t t o n E m p lo y e r s ’ N a t io n a l

t o m e e t a n u n p r e c e d e n t e d d e m a n d , n o t o n ly f o r im m e d ia t e

O r g a n iz a tio n , b u t it is in a m u c h m o r e e le m e n t a r y s t a g e

r e q u ir e m e n t s , b u t a lso fo r th e r e p le n is h in g o f s t o c k s b o t h a t

a n d it s p r o g r e s s is a p p a r e n t ly t o s o m e e x t e n t in t e r fe r e d w it h

h om e and ab roa d .
W it h th e g r o w t h o f th e s p e n d in g p o w e r o f t h e w a g e -e a r n ­

b y in t e r n a t io n a l je a lo u s ie s a n d t h e la c k o f a u n iv e r s a l la n ­

in g cla s s , th e c o n t in u e d im p r o v e m e n t in t h e s o c ia l s t a t u s

p lo y e r s ’ F e d e r a t io n , h e ld a t B r e m e n in J u ly , h a d a s it s m o s t

o f th e g r e a t m a sse s o f th e p e o p le a n d t h e ir c o n s e q u e n t in ­

im p o r t a n t r e s u lt t h e a p p o in t m e n t o f a c o m m ss o n t o in ­

c re a s e d r e q u ir e m e n t s , th e d e m a n d fo r c o t t o n m a n u fa c t u r e s

v e s t ig a t e t h e r u le s o f c o t t o n e x c h a n g e s a n d th e im p r o v e d

n o t o n ly r e a c h e d a h ith e r t o u n k n o w n h ig h -w a t e r m a r k , b u t

g in n in g , b a lin g , t r a n s p o r t in g a n d m a r k e t in g o f c o t t o n , a n d i t

g u a g e a m o n g s t t h e d e le g a t e s .

T h e c o n fe r e n c e o f th e E m ­

w a s m a in t a in e d , o w in g t o th e p r o fit a b le n a tu r e o f t h e r e t u r n s

wras e s t im a t e d t h a t , r e g a r d in g A m e r ic a n c o t t o n a lo n e , a s a v ­

in th e d is t r ib u t in g m a r k e t s , w h ic h h a v e s t e a d ily in c r e a s e d

in g o f a m illio n s t e r lin g a y e a r c o u ld b e s e c u r e d o n th e s e

b o t h th e ir ta k in g s a n d s t o c k s in a n t ic ip a t io n o f a c o n t in u e d

it e m s .

d e m a n d fr o m

p la c e

c o n s u m e r s , in o r d e r t o c h e c k m a t e t h e o p e r a t io n s o f g a m b le r s ,

th e ir o r d e r s fa r a h e a d d u r in g th e e a r ly p a r t o f th e s e a s o n ,

w a s a lso u n d e r c o n s id e r a t io n , a n d a s a - p r o o f o f th e p o w e r

r e ta ile rs .

T h a t b u y e r s w e re e a g e r t o

T h e f o r m a t io n o f r e s e r v e s o f c o t t o n o n th e p a r t o f

a n d p r a c t ic a lly a s s u re d a h ig h r a te o f c o n s u m p t io n t o it s

a n d in flu e n c e o f

c lo s e , w a s d u e in n o s m a ll p a r t t o th e fe a r s e n t e r t a in e d o f

t h a t th e c o n s u m e r s in A m e r i c a w e r e w illin g t o c o -o p e r a t a

th e e ffe c t u p o n p r ic e s o f a c o m p a r a t iv e ly s m a ll A m e r ic a n

in th is a n d o t h e r p r o je c t s o f E u r o p e a n s p in n e r s .

c r o p a n d c o n s e q u e n t s e r io u s r e d u c t io n in t h e w o r ld 's v is ib le

t io n o f a tr u s t o f s u c h d im e n s io n s a s t h is w o u ld n e c e s s a r ily

s u p p lie s .

r e a c h m ig h t , h o w e v e r , in it s e lf c r e a t e a s p e c u la t iv e e le m e n t

e x is t in g

B u t s p in n e r s a n d m a n u fa c t u r e r s , in v ie w o f t h e ir
heavy

c o m m it m e n t s ,

s t o c k s o f th e r a w
of

th e

season ,

c a r r ie d

m a te r ia l, a n d f r o m

sa tis fie d

w it h

over

com m en su ra te

th e co m m e n ce m e n t

p r o fit a b le

m a r g in s ,

covered

th e ir r e q u ir e m e n t s b y c o n t r a c t s f o r f o r w a r d d e liv e r y a n d b y
p u r c h a s e s o f fu tu r e s t o

a n e x t e n t p r e v io u s ly u n k n o w n in

th e h is t o r y o f th e tr a d e ; a n d a lt h o u g h th e r e d u c t i o n in v is ib le
s u p p lie s d id ta k e p la c e t o w a r d s t h e c lo s e o f t h e s e a s o n , a t
n o tim e w a s th e r e a n y rea l s c a r c it y a p p a r e n t , a n d its e f f e c t
upon

p r ic e s w a s h a r d ly p e r c e p t ib le , h a v in g b e e n fo r e s e e n

a n d d is c o u n t e d .
W h ile b o t h B r itis h a n d C o n tin e n ta l s p in n e r s h a d o f n e ­
c e s s ity to cu rta il th e ir t a k in g s o f t h e A m e r ic a n g r o w t h , o w ­
in g t o th e s e a s o n ’s r e d u c e d p r o d u c t i o n , th e s h o r t a g e w a s fu lly
o ffs e t b y th e in c r e a s e d c o n s u m p t io n o f E a s t I n d ia c o t t o n b y
C o n tin e n ta l s p in n e r s , w h o a v a ile d th e m s e lv e s t o th e fu lle s t
e x t e n t o f th e e x is t in g h e a v y s t o c k s in B o m b a y , a n d b y th e
in c r e a s e d u se in G re a t B r it a in o f B r a z ilia n a n d o t h e r g r o w t h s .
T h e d e c re a s e in th e s e a s o n ’ s s u p p lie s o f t h e A m e r ic a n p r o ­
d u c t a n d th e t e n d e n c y o f S o u th e r n c o t t o n g r o w e r s t o c o n t r o l
t h e d is t r ib u t io n o f th e ir c r o p in o r d e r t o o b t a in a h ig h e r
le v e l o f v a lu e s , a p o li c y w h ic h fo s t e r s a d a n g e r o u s s p e c u la ­
t iv e e le m e n t , h a s s t r e n g th e n e d th e h a n d s o f th o s e E u r o p e a n
c o n s u m e r s w h o h a v e in te r e s t e d th e m s e lv e s in t h e p r o d u c t io n
o f c o t t o n in A fr ic a , th e W e s t I n d ie s , A u s t r a lia a n d o t h e r
c o u n t r ie s o u ts id e th e r e c o g n iz e d a re a s f o r c o t t o n c u lt iv a t i o n ,
a n d w h ile as y e t c o m p e t it io n c a n n o t b e c o n s id e r e d a f a c t o r
o f th e m o m e n t , th e e ffo r t s s o fa r p u t f o r t h h a v e m e t w ith
c o n s id e r a b le s u c c e s s ,

as in s t a n c e d

by

th e f a c t t h a t

fr o m

L a g o s a lo n e th is s e a s o n ’s y ie ld is c a lc u la t e d t o t o t a l 1 0 ,0 0 0
b a le s .
W it h th e e x te n s io n o f r a ilw a y s in N ig e r ia , t o w h ic h th e
B r itis h G o v e r n m e n t h a s c o m m it t e d it s e lf, a n d f r o m
fa r -r e a c h in g e ffe c t s u p o n

in d u s t r y

a re

p r o m is e d ,

it w a s s t a t e d
T h e fo rm a ­

w h ic h w o u ld a t a ll tim e s b e a s o u r c e o f a p p r e h e n s io n t o le g it i­
m a te o p e r a t o r s a n d a m e n a c e t o t h e t r a d e a t la r g e .
G r e a t B r it a in .— A s n o t e d a b o v e th e s e a s o n ju s t c lo s e d h a s
w itn e s s e d th e y e a r o f th e g r e a t e s t p r o s p e r it y y e t r e c o r d e d in
th e c o t t o n in d u s t r y o f G r e a t B r it a in .

D u r in g th e o p e n in g

m o n t h s o f th e s e a s o n 1 9 0 4 -0 5 , in d ic a t io n s w e re n o t w a n t ­
in g o f a n a p p r o a c h in g r e c o v e r y f r o m

th e g r e a t d e p r e s s io n

w h ic h h a d c h a r a c t e r iz e d th e in d u s t r y f o r s e v e r a l y e a r s p a s t ,
a n d , n o t w it h s t a n d in g m is g iv in g s b o r n o f a lo n g s u c c e s s io n o f
d is a p p o in t m e n t s ,

fe a r s

g r a d u a lly

s u b s id e d ,

c o n fid e n c e

in

th e s t a b ilit y o f th e im p r o v e m e n t w a s r e s t o r e d , a n d b e f o r e
th e c lo s e o f th e s e a s o n s p in n e r s a n d m a n u fa c t u r e r s w e r e in
th e m id s t o f a r e v iv a l o f t r a d e o f s u c h m a g n it u d e t h a t f e w
d a r e d t o h o p e f o r it s c o n t in u a n c e .
I t d id c o n t in u e , h o w e v e r , a n d d u r in g th e o p e n in g m o n t h s
o f 1 9 0 5 -0 6 , in s p ite o f r u lin g h ig h p r ic e s , e x p o r t o r d e r s f o r
im m e d ia te a n d fo r w a r d d e liv e r y o f y a r n s a n d p ie c e - g o o d s
p o u r e d in t o M a n ch e s te r in s u c h v o lu m e a s t o e n t ir e ly e c lip s e
a ll r e c o r d s , e n a b lin g s p in n e r s a n d m a n u fa c t u r e r s t o s e ll t h e ir
p r o d u c t io n s a h e a d f o r th e g r e a te r p a r t o f th e s e a s o n , w h ile
in s ta n ce s w e re n o t w a n t in g o f t r a n s a c t io n s e x t e n d in g in t o
1907.
T h e m a g n it u d e o f th e s e a s o n ’s w o r k in g is p la c e d o n r e c o r d
b y th e B o a r d o f T r a d e r e t u r n s fo r th e e le v e n m o n t h s e n d e d
J u ly 31 (th e A u g u s t fig u r e s n o t y e t b e in g a v a ila b le ) as f o l ­
lo w s :
1905-06.
Y arns.................. Pounds. 195,338.900
Piece p oo d s------ Yards.5,812,202,000

1904-05.
175.415.200
5,508,727,900

1903-04.
137.613,200
4.637,031,600

s h o w in g a n in c r e a s e in y a r n s o f 1 9 ,9 2 3 ,7 0 0 p o u n d s o v e r la s t
y e a r a n d o f 5 7 ,7 2 5 ,7 0 0 p o u n d s o v e r 1 9 0 3 -0 f, w h ile th e in ­
c re a s e in p ie c e - g o o d s is 3 0 3 ,4 7 4 ,1 0 0 y a r d s a n d 1 ,1 7 5 ,1 7 0 ,4 0 0

it

is

y a r d s r e s p e c t iv e ly .

o n ly n a tu ra l t o lo o k fo r a r a p id in cr e a s e in p r o d u c t i o n

in

s o n , h o w e v e r , it w a s m a n ife s t t h a t b u y e r s in E a ste rn m a r k e t s

s u c c e e d in g se a s o n s fr o m
A fr ic a n s a b o a r d .

th e

w h ic h

in t e r n a t io n a l o r g a n iz a t io n

th e v a s t h in t e r la n d o f

th e

W est

D u r in g th e c lo s in g m o n t h s o f th e se a ­

h a d la rg e ly a n t ic ip a t e d c o m in g r e q u ir e m e n t s a n d h e ld e x ­
c e p t io n a lly h e a v y s t o c k s , w ith th e r e s u lt t h a t , in s te a d o f th e

J a n u a ry ,

e a g e r d e m a n d e x p e r ie n c e d a t th e commencement o f th e s e a ­

r e s u ltin g in a n o v e r w h e lm in g m a jo r it y in f a v o r o f fr e e t r a d e ,

s o n , its c lo s e w a s c h a r a c t e r iz e d b y a d e a rth of o r d e r s in M a n ­

d is c lo s e d th e f a c t t h a t th e t e x t ile w o r k e r s o f G r e a t B r it a in

c h e s te r , a m a r k e d fa ll in v a lu e s a n d a la c k o f th e d e m a n d fo r

The

P a r lia m e n ta r y e le c t io n s in

th e

m o n th

of

534

THE CHRONICLE.

forw ard delivery which was so pronounced at the close of
1904-05.
W hile the hom e trade has not shared to an equal extent
the magnitude in expansion exhibited b y the external trade,
the season proved on the whole a good one, although the p ro­
portion b y weight of the total consum ption has fallen som e­
what below the average. Makers of fancy goods suffered from
a cold , wet and late spring, and although im proved weather
conditions brought a brisk dem and during the summer
m onths, sellers had to contend with an accum ulation o f
stocks left on the hands of retailers during April and M ay.
In the early m onths o f the season, how ever, a large and
profitable general business was done, owing to g ood har­
vests and a full rate of em ploym ent in all leading industries,
coupled with low prices for the principal food products.
Profitable returns from the season’s turnover were rendered
more certain b y the exceptional stability throughout the
year of prices for the raw material, spinners not having to
contend with the wide and frequent fluctuations which made
h avoc o f the trade in preceding seasons.
In the exports to foreign markets the greatest increases
are shown in those to India and China; South A m erica,
A frica, the United States also show larger totals, while
those to Europe have fallen off as com pared with last yea r’s
record figures, although Turkey shows an increase.
A notew orthy feature o f the year was the reopening in
March last of the wages question, a tem porary solution of
which had been found at the close o f the previous season b y
the granting o f a 5 % bonus for three m onths with a continua­
tion of the current rate up to March 1 1906, during which
m onth the cardroom operatives dem anded a 5 % advance,
follow ed early in April b y a similar course on the part of
the spinners. In b oth cases the dem and was con ceded for
tw elve m onths, com ing into operation at the close of M ay,
with the understanding that efforts meanwhile should be
made on both sides to com plete a scheme already a dvocated
b y Mr. C. W . Macara for a sliding scale of wages, based upon
the margin betw een the prices for the tim e being o f yarn
and cotton o f standard counts and grades, such prices to be
supplied b y representative yarn agents and the Liverpool
C otton Association.
A mem orable visit to the United States was m ade in April
b y a party of representatives of the Lancashire spinning in­
dustry, w h o, after a m onth spent am ongst the principal
cotton centres of the South, m et in conference at W ashing­
ton on May 1 and 2 the representatives o f the trading asso­
ciations interested in the cotton industry o f A m erica, when
m any questions relating to the more econom ical dealing in
the handling and buying and selling of cotton came under
consideration, perhaps the m ost im portant conclusion for
the m om ent being that com e to which relates to im proved
m ethods in ginning and baling. The conference also adopted
a m otion that it was advisable that the statistical cotton
year should be changed to Aug. 1 to July 31 instead of Sept. 1
to A ug. 31 as heretofore.
The European Continent.— The course of the cotton in­
dustry of the Continent during the past season has to a large
extent fulfilled the promise held out at the close o f 1904-05.
A full rate of consum ption has been maintained with profita­
ble results, lessened takings of American being accounted
for b y an increased use of East Indian cotton , and had it
n ot been for the protracted disturbance in Russia, the in­
dustry would have shown still greater expansion.
W hile the cotton-consum ing States as a whole have not
reached the unparalleled prosperity experienced b y the
trade in Great Britain, they have, taking into consideration
their more lim ited outlets on foreign markets, benefited to a
marked extent b y the general im provem ent in trade follow
ing upon good harvests, the im provem ent in the coal, iron
and steel industries and consequent increased requirements
of their home markets.
In Germ any, the result of the s.ason has on the whole
been very satisfactory, with a brisk demand for yarns and
goods. B oth spinning and weaving establishments have
been fully occupied at remunerative rates, bu t perhaps the
outturn has been better for weavers than spinners, whose
margin suffered on account of the price of the raw material.
During the season, an event of the utm ost im portance to
German industry generally was the com ing into operation of
the new com m ercial treaties. As these treaties, which b e ­

|V O L . L X X X III.

came effective on March 1, introduced increased duties, the
foreign buyer was anxious to obtain as much advantage as
possible from the old rates. Thus the foreign trade e x ­
perienced increased a ctivity for the time being. In this
increase the cotton industry shared,, manufacturers during
the first part of the season working as m uch as possible to
m eet the exp ort dem and. The filling of hom e orders,
which were also satisfactory, owing to the g ood harvests
and the increased a ctiv ity in industriai eircles, being as far
as possible delayed.
W ith the subsidence of this abnorm al dem and, it remains
to be seen to what extent the trade will be affected b y the
new duties.
In this connection it should be noted that
while the cotton industry on ly suffered to a lim ited extent
from labor disputes, the increase of the price o f m eat and
other food-stuffs led to the w orking classes generally dem and­
ing an increase in wages, the result being a num ber of strikes
of more or less im portance. These disputes still continue
and are likely to have far-reaching effects, and it is greatly
feared that the p olicy of protection will result in an added
cost to produ ction , thus m aking com petition in foreign m ar­
kets still m ore difficult.
In Austria, the condition of the industry shows but little
im provem ent upon that of last season. A t the com m ence­
ment of the season the general opinion was that low er prices
for the raw material w ould be witnessed on a ccou n t of the
large surplus carried over from the previous A m erican crop.
Anticipating such a decline, spinners, in order to secure
business, sold their produ ction ahead at a price that left
little margin of profit; in some cases sales showed a positive
loss. In order to bring about an im provem ent, a p rop osa l
was made b y the Spinners’ A ssociation to curtail prod u ction
b y 1 6 % , in the hope that the m ovem ent wrould be join ed
b y spinners o f other Continental countries. D isappoin ted
in this, and fearing a loss o f m arkets to them selves w hen the
tide of business turned, the Spinners’ A ssociation failed to
secure the necessary support o f a four-fifths m a jo rity .
W eavers, on account of the concession in price made b y
spinners, have done rather better, and at times have been
able to obtain full prices for quickA ielivery, w'hile m anufac­
turers of fan cy goods have done especially well.
In France, the prosperity of the cotton industry has
again been interfered with b y the high price of the raw7 m a­
terial. The dem and was fair bu t the producing pow er wras
quite equal to if not greater than the requirem ents. M anu­
facturers refused to b u y yarn on a parity with the price of
cotton; spinners, therefore, in order to obtain business, had
to make concessions and were forced to speculate m ore or
less, as they found it im possible on the same d ay to cover
their com m itm ents on a parity. W eavers, having the b en e­
fit of com paratively low yarn prices, have done better.
Towards the close of the season prospects have somewdiat
im proved and it is hoped that the industry during the co m ­
ing season will be benefited b y a lower range of prices.
In Russia, the season opened with very favorable p ros­
pects for the industry. There was a general feeling th at the
worst effects of the war were over and that better times
were beginning. Buyers, who held off as lon g as possible,
again entered the m arket to replenish their alm ost exhausted
stocks, and in consequence of the g ood dem and m anufac­
turers were able to dispose of their ou tpu t at rem unerative
prices. That shortly after the opening of the season this
satisfactory state of affairs was broken into and the brighter
prospects entertained at the beginning n ot realized, was
due to the feeling of insecurity in industrial circles caused
b y the breaking out again of political disturbances and b y
the frequent strikes.
Under existing conditions, manufacturers ran the risk
of their establishments being destroyed during times of
disturbance, and w-ere therefore afraid to make contracts
ahead; added to which there was the feeling of insecurity
with regard to their custom ers, m any of whom are Jews,
whose warehouses rvere plundered during the outbreaks,
thus in m any cases ruining them and so rendering it im possi­
ble for them to pay for goods purchased.
W ith order restored and a more settled state of affairs,
the outlook wmuld again becom e prom ising, as there is a
demand waiting to be filled.
In H olland, the condition of trade has again been very
favorable. A t the beginning of the season spinners and

S e p t . 8 1900. j

535

THE CHRONICLE.

weavers could w ith difficulty cope with the dem and. The
export business was large, especially for fan cy goods, which
are conspicuous by their bright colors and choice designs.
The dem and for home consum ption was also satisfactory,
but for a time som ew hat neglected, as exporters were in a
position to pay higher prices than the hom e m erchant.
Towards the close there was som e falling off, especially for
colored goods, which are little used in H olland, m anufac­
turers having to shut dow n som e o f their loom s.
The condition of the industry in Ita ly has been very good.
The demand was brisk and both spinners and manufacturers
were able to sell their production for som e time ahead at
remunerative prices, m any mills being so fully engaged that
new business, if for prom pt delivery, was refused. The de­
m and continues good but there is some fear, on accou nt of
the high prices of Am erican cotton (though this to som e e x ­
tent has been offset by the increased use of E ast In d ian ),
and also if workm en exact more p ay and shorter hours, that
manufacturers will find it a difficult matter to m aintain a
fair margin of profit between their cost and sale prices.
In Spain, though the ou tpu t has been som ew hat redu ced
on account of high prices, the business on the whole has been
satisfactory. The reduction in consum ption w ould have
been greater had not the rate of exchange to som e exten t
counterbalanced the rise in cotton . Prospects are satis­
factory and a favorable harvest will do m uch to forw ard the
industry, provided the price of the raw material in the com ­
ing season is not too high.
Summarizing the reports received from the various Con­
tinental centres of the industry, it w ould appear th at the
season’s working has, on the whole, resulted satisfactorily
showing decided im provem ent upon the previous on e.
Both spindles and loom s have increased and the ten d en cy is
tow ards further expansion as a result o f prosperity ab ove
the average.
We are indebted to Mr. Thom as R . Ellison of L iverpool
for the foregoing comprehensive and interesting review of
the spinning industry in Great Britain and on the Continent
in 1905-06. His facts, in connection with our own rem arks
on the situation in the United States— N orth and South—
given further above, cover quite th orou ghly the countries of
the world m ost prom inent in cotton m anufacturing.
There are a num ber o f other countries of lesser, though
steadily increasing, im portance w hich m ust be included to
com plete the narrative of the w orld ’s progress in cotton
production and m anufacture.
W e use official data in these
cases so far as possible; altogether we give below the results
reached, showing (1) the cotton consum ption o f each manu­
facturing country for a period of four years with also the
total annual and average weekly consum ption; (2) the
world’s production of cotton (com m ercial crops) for the same
years, and (3) the spindles in all m anufacturing countries
as they stand to-day com pared with like results in form er
years.
Next in im portance to the United States and Europe
comes India, and in that country an increased consum ption
is shown. Japan has appreciably increased its use of cotton
this season, its takings from In d ia and the United States,
the chief sources of supply, having been heavier than last
season. For M exico and Canada we are forced to adopt the
im ports into each country as a measure o f consum ption,
as in the case of the former no late statistics covering home
yield or mill operations are procurable, and Canada has no
source of supply but through im ports. For China it is im ­
possible to obta.n any data of value. E fforts to secure in ­
form ation from Brazil meet with practically no success. In
Novem ber last, we copied from the “ Jornal do C om m ercio”
of R io Janeiro a com pilation showing the num ber of mills
in Brazil to be 108, with 715,078 spindles and 26,054 loom s,
and consuming 282,600 bales of 240 lbs. average weight.
W e have been unable to obtain anything o f a general char­
acter other than this, and until we can feel sure of getting
inform ation at fairly frequent intervals do not feel justified
in including Brazil in our com pilations. “ Other countries’ '
include exports o f cotton from the United States and Europe
to countries other than those specifically m entioned in the
table; also the cotton burned at sea. The com pilation sub­
joined consequently em braces substantially the entire dis­

tribution or consum ption (expressed in bales o f 500 lbs. net
w eigh t each) of the com m ercial cotton crops of the world
and the degree in which each country has participated:
TH E W O R L D ’S AN N U AL COTTON CONSUMPTION.
1905-06.
Countries—
Bales.
Great Britain.................... 3,848,000
Continent_______________ 5,252,000

1904-05.
Bales.
3,620,000
5.148,000

1903-04.
Bales.
3,017,000
5,148,000

1903-03.
Buies.
3,185.000
5,148.000

Total Europe.................. 9,100,000
United States— N o rth .-- 2,439,993
"
— S o u t h ... 2,286,235

8,708,000
2.193,937
2,116,318

8,165,000
2,000,954
1,907,548

8,333,000
2,047,801
1,907,300

Total United sta tes-- . 4,726,228
East Indies_____________ 1,546,000
Japan ............................
850,000
Canada
_______________
119,000
M e x ic o ...............................
14,000

4,310,255
1,473,327
755,085
130,000
70,000

3,908,502
1,307,910
092,706
88,534
55,500

4,015,101
1,363,713
560,044
117,614
59,215

Total India, & C -........... 2,529,000
Other countries. &c_____
40,000

2,428,412
35,000

2,204,656
32.000

2,107,186
22,407

Total world.................... 16,395,228
Average, weekly_________
315,236

15,541,607
298,878

14,310,158
275,196

14,477,694
278,416

The w orld’s total consum ption for 1905-06, it will be o b ­
served, records an appreciable gain over the total reached
a year ago— 853,561 bales— and is 2,085,070 bales more
than the result for 1903-04. All the countries share to a
greater or less exten t in the increase over 1904-05. The
sources from which cotton has been drawn in each o f the last
four years are stated in the follow ing table o f the w orld’s
comm ercial crops, in bales o f the uniform weight of 500 lbs,
each:
W O R L D ’S PRODUCTION OF COTTON.
1905-06.
1904-05.
1903-04.
Countries—
Bales.
Bales.
Bales.
United States____________ 11,048,000 13,420,440
9,841,671
East Indies a____________ 2,970,000
2,952,720
2,734,400
E g y p t ___________________ 1,152,000
1,244,968
1,275,754
650,000
325,928
307,516
Brazil, &c. d____________

1902-03,
B ales.
10,511,020
2,737,577
1,148,700
329,390

T o ta l_________________ 15,820,000
Consumption, 52 weeks..16.395,228

14,726,687
14,477,694

Sur. from year’s cro p ..
Visible and in vis. stock—
Sept. 1 beginning year.
Sept. 1 ending y e a r ...

17,944,056
15,541,667

14,159,341
14,310,158

£575,228

2,402,389

£150,817

248,993

5,172,633
4,597,405

2,770,244
5,172,033

2,921,061
2,770,244

2,672,068
2,921,061

a Includes India’s exports to Europe, America and Japan and mill con­
sumption in India Increased or decreased by excess or loss of stock at
Bombay.
if Receipts Into Europe from Brazil, Smyrna, Peru, West Indies, &c., and
Japan and China cotton used in Japanese mills.
£ D eficiency in the year’s new supply.

The above statem ent indicates in com pact form the w orld ’s
supply of cotton (not including Russia) in each of the fou r
years, the am ount consum ed, and also the extent to which
visible and invisible stocks were increased or dim inished.
The addition to the spinning capacity of the w orld has
been fairly h eavy the past season. The greatest change
has been in Great Britain— 1.500,000 spindles.
In the
Southern division o f the United States, the increase reaches
433,397 spindles, the aggregate now being over nine million
spindles. Our statem ent for the world is as follows:
NUMBER OF SPINDLES IN THE WORLD.
1906.
1905.
1904.
1903.
Great Britain_____ 50,000,000 48,500,000 47,500,000 47,200,000
Continent................ 35,500,000 35,000,000 34,600,000 34.300,000

1902.
47,000,000
33,900,000

Total Europe___ 85,500,000
United States—
North..............
15,600,000
South........ ......... 9,181,207

83,500,000

82,100,000

81,500,000 80,900,000

15,325,000
8,747,810

15,250,000
7,903,866

15,200,000 15,150.000
7,039,633 6,408,974

Total U. S ......... 24,781,207
East Indies________ 5,200,000
Japan----------1,450.000
China......................
625,000

24,072,810
5,163,486
1,387,846
619,648

23,213,866
5,118,121
1,349,074
610,000

22,239,633 21,558,974
5,043,297 5,006,965
1,379.966 1,300,000
600,000
550,000

7.077,195
710,000
650.000

Total India, & c..
Canada____ _____
Mexico.................

7,275,000
775,000
675,000

7,170,980
750,000
675.000

Total other______

1.450,000

1,425,000

1,366.000

7,023.263
700,000
610.000

6,856,965
690,000
590.000

1.310.000

1.280,000

Total world ............ 119,006,207 116,168,790 113,757.061 112,072.896 110,595.939

In making up the foregoing, we use estimates for Great
Britain and the Continent furnished us b y Mr. E llison, who
slates that in addition to the totals as given above there
are 3,000,000 spindles in course o f installation in Great Bri­
tain and 500,000 spindles on the Continent. Previous years’
statements we revise from the facts we have gathered. The
results for the United States are our ow n. India's totals
are from the official report of the B om bay Mill Owners’
Association as far as received, and Japan's aggregates are
officially com m unicated, except those for the last year,
which are approxim ations. China’s figures are com piled
from consular reports, and for Canada and M exico the ag­
gregates are in part approxim ated.
We do not need to add anything to Mr. E llison's full re­
view o f cotton spinning the past season in Great Britain
and on the Continent. Taken in connection with our own
remarks on the situation of the same industry in the United
States, given further above, the reader has before him ,
expressed in brief form , the progress of cotton m anufacture
in almost the whole world during the past twelve m onths.

THE CHRONICLE.

53«

[ V'OL. LXXXI1I.

,

Shirtings,
Per P iece.

32-Cop
Twist.

M id. Up’ d I
Cotton. |

1 M id. Up'd
i Cotton

The large crop of the raw material in the U nited States in proportions. Buying for hom e and colonial markets was
1904-05 put new life into the spinning industry alm ost e v e r y ­ rather greater than for som e time previously. The exports
where. Under its influence spindles were enlarged and the of yarns and goods from Great Britain (all reduced to pounds)
reached a total of 119,459,000 pounds, against only 106,production of goods m aterially added to. This expansion 922.000 pounds for Septem ber of 1904. Mr. E llison esti­
has now been continued another tw elve m onths. In In d ia mated the consum ption for the m onth at 74,000 bales of 500
further grow th is also observable over the large total o f lbs. each per week in Great Britain and 101,000 bales of
1904-05. China and Japan have been more liberal takers like weight on the Continent. Liverpool.— A dvices from
Am erica were the dom inating factors in shaping the course
o f English goods, and shipments to South and North A m erica of the market for the raw material. F avorable crop advices
have been on an augm ented scale. The ou tw ard m ovem ent during the first half o f Septem ber, including a better m onthly
t o miscellaneous countries, included am ong w hich are the report from the A gricultural Bureau than had been looked
Australasian colonies, also shows a gratifying gain. In for, started a decline which carried m iddling uplands from
5.83d. on Sept. 1 dow n to 5.49d. Sept. 12. During the suc­
fa ct, considered b y groups, only one— the M oham m edan, ceeding week the net change in value was a gain of only 3
■consisting of T urkey, E gyp t, & c.— exhibits any decrease in points, bu t less satisfactory news the next seven days ad­
takings of goods, and that n ot heavy. The statem ent o f vanced the quotation to within 1 point of the opening.
From that level there was a drop of 11 points, the close being
exports (reduced to pou n d s) b y quarters for the last tw o
at 5.71d.
seasons is subjoined. These years end with Septem ber 30,
O C T O B E R .— Manchester.—T h e uncertainties connected
and consequently the last tw o m onths of the fourth quarter with the raw material acted as a check upon business activity
o f the current season are estim ated on the basis of the July in the cotton goods m arket during the m on th and
was likewise an unfavorable factor at distributing centres.
m ovem ent. Three ciphers are omitted:
A t the same time m anufacturers had sufficient orders on
hand, largely previous m on th s’ bookings, to cause them to
GREAT BRITAIN’S COTTON GOODS EXPORTS FOR TWO YEARS.
-------------1905-1906-------------------------1904-1905------------- hold firm ly to quoted prices, and, speaking broad ly, the in­
Yarns.aPiece Goods. Total.
Yarm aPiece Goods. Total.
dustry as a whole continued in a healthy condition. E arly
(000’s omitted.)
Pounds.
Yards.
Pounds. Pounds. Yards.
Pounds.
ist quar.— Oct.-Dee... 62,815 1,595,053 371,650 53,857 1,521,489
348,091 in the m onth some im provem ent in the dem and was notice­
2d quar.— Jan.-Mch . . 61,872 1,639,019 379,749 54,782 1.530,740
350,894 able, although the b o y c o tt in Bengal was a source of m uch
3d quar.— Apr .-June.. 56,244 1,477,685 342,290 54,520 1,474,372
338,383
Later
4th quar.— July-Sept.b 57,000 1,600,000 372,000 56,319 1,597,675
365,065 anxiety and the inquiry from Calcutta was very light.
transactions were below the norm al in quantity. Some
Total______________ 237,931 6,311,757 1,465,689 219,478 6,124,276 1.402,433 fair-sized parcels were b ook ed for China and dem and for
the Levant was active at times; b u t for other markets trans­
a Including thread, b Estimated for the quarter on the July movement.
actions were strictly moderate in the aggregate and trade
The totals in pounds in the above com pilation are as com ­
with hom e consumers was ham pered b y the advance in cot­
puted b y us. but are believed to be approxim ately correct. ton tow ard the close. E vents o f the m onth of m ore than
T hey indicate that the exp ort m ovem ent this season has ordinary interest to the trade were the exhibition of Colonial.been 1,465,689,000 pounds— 63,256,000 pounds in excess of grown cotton at M anchester, under the auspices o f the
British Cotton-G row ing A ssociation, and the inviting of
1904-05, the form er record, and 263,414,000 pounds greater
delegates of the International C otton Federation to visit
than in 1903-04.
the next convention of the New E ngland M anufacturers’
To com plete the yea r’s history o f the cotton goods trade in Associations. Yarns and goods exports from Great Britain
Great Britain we append data as to prices, the statem ent reached 120,698,000 lbs., against 110,573,000 lbs. in O ctober
1904. Mr. E llison continued the estim ated rate of consum p­
coverin g the last three years.
tion the same as in September. Liverpool.— As in Septem ­
ber, the m arket for the raw material was largely if n ot w holly
1905-06.
1904-05.
1903-04.
under the influence o f Am erican news. Fluctuations were
'Q
very frequent, although in no sense radical, and for the first
C
OC
D
«
c
C
SsO
c
Liver­
half of the m onth the course of prices, follow ing favorable
gj, C
D
C
O
pool.
^ 0,
crop advices, was downw ard. M iddling uplands opened the
^1
c
\
j
c
.
’S v§6
^ Is
m onth at 5.64d ., a drop of 7 points from the final Septem ber
c*? '
cC
qu otation, and lost 38 points to the 17th. The subsequent
d.
d.
d.
s. a.
s. d. d.
d.
d.
s.
d.l trend was quite steadily upw ard, on killing frosts, unfavora­
5.80 914
7
7 7
5.98 9 1-16 6 1014
Sept. 30__ 5.71 814
5.77 8 14
7 714 5.74 8 13-16 6 914 ble weather and reduced crop estimates, the advance to the
7 6 M 5.34 814
Oct. 31
4.93 814
7 8
7 11
6.28 914
Nov. 30-_ 6.17 914
6 10J4 26th being 55 points, m iddling uplands then ruling at o .S ld .
Average)
Prices eased off to 5.70d. b y the 30th, but the close was at
5.36 S 15-16 7 714 6.00 9
7 8
S ept, j- 5.88 9
6 10
5.77d.
Nov. J
3.77 7 13-16 7 2
6.24 9 7-16 7 11
6.96 914
Dec. 31
7 5
N O V E M B E R .— Manchester.— D evelopm ents in the cotton
6.07 9 14
3.78 7 7-16 6 1114 8.72 1014
7 11
Jan. 31
7 1014
4.14 7 11-16 7 1
Feb. 28-_ 5.76 914
7 11
8.00 1014
7 1014 market were a serious hindrence to active operations in the
Average)
m anufactured products during N ovem ber. The alternating
3.90 7%
D ec. }- 6.02 914
7 1
7.89 1014
7 11
7 8 2-3
strength and weakness in the raw material prevented the
Feb. J
6.07 9 5-16 8 0
4.28 7 15-10 7 2
8.28 11 Vs
Mcli. 31
establishment of any safe basis upon which transactions
8 2
4.20 7 15-16 7 3
Apr. 30 __ 6.04 9 14
7.76 10 13-16 8 1
8 1
could be consum m ated and consequently m any m anufac­
4.71 SM
7 4
6.90 10
Mav 31-_ 6.07 9 %
8 2
7 9
turers sold less than their produ ction , being unwilling to
Average)
7 3
M ch. j- 6.06 914
7.65 1014
8 1
4.40 8
8 0
accept offers current. Som e, in fa ct, were reported to have
M ay J
7 614 6.04 914
7 AH done little or nothing, b u t m ainly on account of difficulties
June 30__ 6.14 9J4
8 214 5.34 8 M
2
July 31-_ 5.99 10
7
10
6.09
6.18
8
9
7 214 in the w ay of delivery.
914
A t the same tim e manufacturers
7 9
6.72 914
Aug. 31 __ 5.41 9 %
7 ii
5.90 914
7 6
on the whole continued very well engaged, as the volum e of
A vera g e)
7 4
.June \ 5.85 9 13-16 8 i
5.78 9 1-16 7 814 6.32 914
goods distributed clearly indicated, but warnings of reple­
A ug. J
tion in some foreign markets were beginning to be heard.
This was particularly true as regards China, from which
W e now add a brief sum m ary b y m onths of the course of country very little new business came to hand, re-sales and
'the Manchester goods m arket during the season closing w ith postponem ent o f deliveries also being reported. There was
A ug. 31 1906 and also of the L iverpool cotton m arket in a very satisfactory dem and from Japan at tim es, and a good
business for Singapore, Java and other Far Eastern markets.
th e same form for the same period. These summaries have Trade for India was disappointing bu t advices from Calcutta
been prepared for this occasion with our usual care, and the denoted the waning of the b o y c o tt. South Am erican and
details will, we think, prove an interesting and serviceable Continental trading fair. Business with hom e consumers
only m oderate but stocks o f goods were understood to be
record for reference.
running very low . Business in yarns was rather unsatis­
S E P T E M B E R .— Manchester.— A strong disposition to give fa ctory and there was som e talk of short tim e. The exports
b u t little credence to the unsatisfactory crop advices from of yarns and goods from Great Britain were in N ovem ber
A m erica was in evidence during September. The feeling 122.368.000 lbs., against 109,680,000 lbs. for the correspond­
o f distrust, m oreover, was n ot confined to the Manchester ing period of 1904. No change was made in the estimated
c o t t o n goods m arket, it being quite general throughout the weekly consum ption of cotton . Liverpool.—-The upward
-m anufacturing centres of the United K ingdom . The possi­ tendency in the price of cotton which set in Oct. 18 continued
b ilit y of a greater consum ption in 1905-06 than ever before into N ovem ber, an advance from 5.85d. to 6.15d. for m id­
was quite freely adm itted (provided prices were on a fail- dling uplands occurring betw een the 2nd and the 6th. From
b a s is ), b u t the ou tlook was considered favorable for a m o d ­ that date on the course of the m arket was quite irregular,
erate crop— a yield am ple, in con ju n ction with the large although a further net gain of 2 points was secured. The
:surplus from the previous year, to cover all requirements quotation was dow n to 6.07d. on the 7th, up to 6.16ji. on
-without reducing stocks to a fam ine basis. W hile sufficient the 10th and then dropped off to 5.69d. b y the 20th. It ad­
’ time had not elapsed to judge of the effect of the peace vanced to 6.28d. b y the 27th and declined on the 28th to
itreaty betw een Japan and Russia, its ratification had stim u­ 30th, closing at 6.17d.
D E C E M B E R .— Manchester.— The cotton goods market
la ted demand for China and Japan and encouraged hopeful
prospects for the future. A ltogether, the m onth was a was d evoid o f any n otew orthy feature during the m onth
quiet one in cloths, b u t transactions were of somewhat greater aside from the fa ct that trading was along v ery consrvative
volu m e than in August. The b oycottin g of American lines. A t the opening, and continuing well on tow ard the
.goods in China caused no noticeable addition to the business m iddle of the m onth, transactions in cloths were small, de­
this market, and dealings for India were of only moderate spite a pretty good dem and at times from China. Later on

S e p t . S 190G.]

THE CHRONICLE.

som ew hat more business was done until the h oliday period,
when a quiet feeling prevailed. To sum up the situation
generally, it m ay be said that in the aggregate the dealings
were below the normal o f previous m onths, although some
fair-sized parcels for India and China were disposed of and
home trade was fairly g ood for the season. Being y e t fairly
well under orders, m anufacturers evinced no anxiety for
the im m ediate future, and were m aintaining prices on a
basis showing a very fair margin of profit. In fa c t, the very
satisfactory returns from the 1905 operations served to m a­
terially stimulate the spinning industry, reports in Decem ber
indicating that additions o f 2,260,000 spindles were in pro­
gress or contem plated. Yarns and goods exports from
Great Britain reached 12S,5S4,000 lb s., against 127,S3S,000
lbs. in Decem ber 1904. No change was made b y Mr. Ellison
in the estim ated w eekly rate o f consum ption. Liverpool .—
The market for the raw material was a com paratively narrow
one, although price changes were of alm ost daily occurrence.
The estimate of the United States D epartm ent o f A gricul­
ture, indicating a yield o f b u t 10,168,000 bales, was w ithout
any but sentim ental effect, the result being given little cred­
ence as it seemed to be proven erroneous b y the Census Bu­
reau’s ginning returns. Middlin £ uplands opened the m onth
at 6.16d. and advanced to 6.42d. b y the 6th, on the Agri­
cultural B ureau’s crop estim ate. B y the 12th, how ever,
the im provem ent had been m ore than lost, the quotation
ruling at 6.0Sd. F rom this level there was a gradual rise
to 6 .4 0 d ., which price was attained on the 18th; bu t the sub­
sequent course was dow nw ard, m iddling upland dropping to
6.17d. on the 2Sth. On the final business day of the m onth
(the 29th) there was an advance to 6.24d.
J A N U A R Y .— Manchester.— A lthough the general election
was an influence naturally tending to restrict business, the
cotton goods trade in January was active in m any of its
branches. The com parative steadiness of the raw m aterial,
fluctuations having been within a m oderate range, of course
con tribu ted to this favorable result. Furtherm ore, the esti­
mate of the United States A gricultural D epartm ent, issued
in Decem ber, indicating a crop of bu t 10,168,000 bales of
500 lbs. gross w eight, was considered to have been thoroughly
discredited b y the Census Bureau report showing 9,998,111
bales ginned to Jan. 16. Thus som e of the apprehension
as to supply was rem oved. Practically with the opening of
the New Year an active dem and for cloth set in and at the
close of the m onth the position of m any m anufacturers as
regards orders was distinctly im proved. Prices were well
m aintained at all tim es. B uying for Calcutta was the prin­
cipal feature of the m onth, with a fair dem and from other
sections of India. G ood support to the m arket was in evi­
dence from Japan, China, Java and other Far Eastern dis­
tributing poin ts, and South A m erica purchased steadily in
small parcels. A late start in the hom e trade was ascribable
to the elections. Yarns opened quiet but considerable
transactions were reported later. The continued active busi­
ness in goods was reflected in the volu m e o f exports from
Great Britain, w hich for January reached a total of 131,650,000 lb s., as contrasted w ith b u t 109,840,000 lbs. for the cor­
responding m onth of 1905. Mr. Ellison m ade no change in
his estimated rate of consum ption. Liverpool.— D a y-to-d a y
fluctuations in the raw m aterial resulted in a very slight net
change for the m onth. M iddling uplands opened at 6 .1 0 d .,
a 14-point drop from the final D ecem ber q u ota tion , bu t re­
gained all but 1 poin t of the loss b y the 5th. A decline to
6.07d. was follow ed b y a rise to 6 .2 8 d ., that figure being
reached on the 17th. 6.21d. was the qu otation on the 18th
and 6.30d. on the 19th. The subsequent trend was gener­
ally dow nw ard, the close being at 6.07d.
F E B R U A R Y .— Manchester.— No developm ents o f an un­
satisfactory nature were to be chronicled in the cotton goods
market in F ebruary. The position o f spinners, especially
those engaged on A m erican co tto n , was decidedly im proved,
and the further increase of 2 }^ % in wages accorded to w eav­
ers, winders and beamers on Feb. 9, to go into effect with the
first pay-da}- in M ay, seemed to attest the healthy condition
of the weaving industry. The cloth business, although show­
ing some slackening from the a ctiv ity o f late January, was
nevertheless quite satisfactory, orders from China being
more in evidence and transactions for India and other Eastern
markets being of fair to g ood volum e. On the whole m anu­
facturers were well sold ahead. The m arked extension of
the manufacturing industry in Great Britain, revised lists
showing 71 new mills containing 6,153,356 spindles working
or in process of erection, served to call serious attention to
the scarcity of operatives. It was contended that the
scarcity would in time have an im portant bearing upon the
question of consum ption. Furtherm ore, reports were already at hand of stoppage of spindles in consequence of lack
- “ Dd it was asserted that the new mills would
nave chmculty in getting tuily to w ork. Greatest difficulty,
it was claim ed, would be experienced in m anning mills at
points distant from the large cotton-m anufacturing centres,
special inducements as to housing being necessary to cause
operatives and their families to m igrate. E xp orts o f yarns
and goods from Great Britain exh ibited a decline from the
heavy volum e of January and were slightly b elow the total
for February 1905; the aggregates were 115,457,000 lbs. and
116,245,000 lbs. respectively. Estim ates o f consum ption
were unchanged. Liverpool.— The general trend o f the mar­
ket for the raw material was dow nw ard during F ebruary,
despite a good dem and and large sales. The net decline,

537

how ever, was not very decided. M iddling uplands opened
at 5 .9 4 d ., a loss o f 13 points from the January close, and in
the succeeding tw o weeks daily price changes up or dow n
netted a further decline o f 3 p oin ts, the quotation o f the 16th
having been 5 .Old. The next eleven days witnessed a
steadier decline, the ruling qu otation on the 27th being
5.69d ., from which level there was a recovery of 7 points to
5.76d. at the close.
M A R C H .— Manchester.— Business in the cotton goods
market was of very encouraging volu m e in M arch, transac­
tions in b oth cloth and yarns having been o f satisfactory
proportions and at rates favorable to producers. In the ear­
lier days only m oderate dealings for China were put through,
the large reported stocks of goods in th at country seemingly
acting as a check upon dem and. B ut tow ards the close an
active inquiry from that quarter resulted in an im portant
aggregate o f sales. Trade for India and other Eastern m ar­
kets was fair to g ood throughout the m on th , and South A m er­
ica was in the market for m oderate-sized parcels. A good
miscellaneous business was reported for the hom e trade.
The question o f the wage scale was a leading incident o f the
m onth, engaging the attention o f m ill-owners. A spirit of
unrest was slightly discernible am ong operatives, and it took
definite shape on March 22 in a form al request made b y the
Cardroom Am algam ation for a meeting under the B rooklands agreement. It was understood that at the meeting
an advance w ould be applied for. Up to the close of the
m onth no action upon the request for a m eeting had been
announced. Yarns and goods exports from Great Birtain
reached an aggregate o f 132,642,000 lbs. in M arch, against
124.810.000 lbs. for the like period of 1905, bringing the
total for the half-year up to 751,399,000 lb s., as com pared
with only 698,986,000 lbs. for the six m onths of 1904-05.
Mr. Ellison continued his estim ated weekly rate of consum p­
tion as in the preceding m on th . Liverpool.— Under a good
general dem and for cotton and large spot sales, the m arket
for the raw m aterial slow ly recovered from the decline of
February, reports of bad weather in the Am erican cotton
belt assisting. The opening price o f m iddling uplands
(5.83d.) showed a gain of 7 points over the previous close,
and b y the 5th the quotation had m oved up to 5 .95d ., only
to recede to 5.77d. b y the 13th. The next week, how ever,
witnessed an advance of 14 points to 5 .9 I d ., and two days
later 6d. was the ruling price. T o the close a further gain of
7 points was scored, the final quotation having been
6.07d.
A P R IL .— Manchester.— W hile less activity was displayed
in the dealings in the cotton goods market than in the pre­
vious m onth, the April aggregate of transactions was yet of
fairly satisfactory volum e. A t the opening business was
good and so continued until the Easter holidays, after which
there was a perceptible slackening in dem and, but with a
partial recovery in the closing week. In qu iry for China
and India was very fair at times and in some cases orders for
very distant m onths were b ook ed . H om e trade displayed
fair activity. Yarns were very steadily held. The event of
chief im portance during the m onth was the settlem ent of
the wage difficulty in the spinning trade. The application
b y cardroom operatives in March for a 5 % advance was fol­
low ed b y similar action of the spinners in April. The em ­
ployers made objection that no advance should be accorded
except as a part of the conciliation schem e, then under con­
sideration, which contem plated an autom atic adjustm ent of
wages. But this stand seemed to be untenable, an early
agreement on a conciliation scheme appearing im probable,
so employers decided to grant the advance beginning with
the third pay-day in M ay. Meanwhile, operatives obligated
themselves to assist earnestly in reconciling differences and
com pleting the scheme. B y the settlement as above, a
year was made available for consideration and arriving at a
conclusion without fear of labor troubles. E xports of yarns
and goods from Great Britain reached a total of 107,781,000
lbs., as com pared with 108,026,000 lbs. in April 1905. The
average weekly rate of consum ption continued on the level
of the previous m onth. Liverpool.— The influence that
started the upward turn in the closing days of March (the
Census Bureau’s final report giving the Am erican crop at
10.777.000 bales) continued an im portant factor in early
April. Opening at 6.04d. for middling uplands, the market
for the raw material advanced gradually although not
steadily until 6.24d. was reached on the 11th. A recession of
8 points occurred on the 12th and then came the Easter holi­
days. The loss of 8 points was recovered on the 17th but
on the follow ing day a decline set in, induced b y general
liquidation and fears of an unfavorable effect upon financial
affairs b y the San Francisco earthquaek. The low point,
6.03d ., was reached on the 24th, and the close was at 6 .Old.
M A Y .— Manchester.— No features of special im portance
arc 1o be noted in connection with the cotton goods trade
in M ay. On the whole the m arket was quiet, transactions
in cloth showing an appreciable slackening after Easter, but
as almost all manufacturers were already well under contract,
m achinery was kept fully em ployed and prices were in the
main quite firmly maintained. New business for India was
o f moderate volum e and very little was done for China,
Japan and other Eastern markets. For South America,
slight price concessions served to stimulate trade; at times.
Home trade dem and, while good , was hardly up to expecta­
tions. Some surprise was occasioned b y the fact that, with
the easing up in demand for cloths, the output of yarns— in

THE CHRONICLE.

ing at 5 .4 1 d ,f against 5.90d. at the end o f the previous sea­
son.
W e now give a com pilation which covers the figures of
consum ption in detail for each of the principal countries
em braced in the statem ent of the w orld ’s annual con su m p ­
tion already presented, and the total o f all. These figures
are n ot the takings of the m ills, bu t the actual con su m p tion ,
and are in all cases expressed in bales of 500 pounds. The
figures in the table cover the years from 1884-85 to 1905-06
inclusive, and are given in thousands o f bales.

Av. 6 y’rs 2,986 3,002 5,988

1,564

377 1,941

3.384
3,181
2,866
3.233
3,250
3,276

1890-91.-.
1891-92 . . .
1892-93 . . .
1893-94--.
1894-95 . . .
1895-96 . . .

3,631
3,619
3,661
3,827
4,030
4,160

Total.

!

i

7,015 1,810
6,800 1,944
6,527 1,872
7,060 1,593
7,280 1,940
7,436 1,711

557
632
6791
671
803
861

1,527
1,822
1.939
2,024
2,148
2,185

2,367
2,570
2,551
2,264
2,743
2,572

467
504
569
617
697
791
607

g

241
310
361
400
444;
503

©

1,286
1,512
1.578
1.624
1,704
1,682

Japan.

5,350
5,074
5,867
6,110
6,272
6,659

South.

2.604
2,772
2,912
3,037
3,256
3,432

1884-85--1885-86-..
1886-87 . . .
1887-88 . . .
1888-89 . . .
1889-90 . . .

North.

O

2,746
2,902
2,955
3,073
3,016
3,227

500-lb.bales
000somilled

All Others.

Untied Stales.
j East Duties.

Europe.
1
Total.
___________
1

eluding that from new mills— was so readily and fully ab­
sorbed b y the market. An incident of the m onth was the
return from A m erica of the Cotton Commission which had
been making an investigation of conditions at m anufac­
turing centres and in the cotton-grow ing States. Their re­
port strengthened belief in possibilities of extension o f cotton
culture South. The outward m ovem ent o f yarns and goods
was of im portant volum e, reaching 131,101,000 lbs., against
116,181,000 lbs in May 1905. No change wras made b y
Mr. Ellison in the estimated weekly rate of consum ption.
Liverpool.— Transactions in the market for the raw material
were upon a m oderate scale during May and fluctuations
were within a com paratively narrow range, resulting in a
net gain of 3 points for the m onth. The opening was at
6.06d. for m iddling uplands and the course of prices was
m ainly upward to the 17th, when 6.26d. w’as the ruling q u o­
tation. By the 22nd the price had receded to 6 .1 3 d ., sub­
sequently advanced to 6.22d. (on the 26th), but the close
was at 6.07d.
JU N E .— Manchester.— The volum e of transactions in the
cotton goods market during June was of very m oderate pro­
portions, and in some lines a smaller business was reported
than in any m onth for fully two years. But as m ost manu­
facturers were still well under engagement ahead, the dull
period caused no special uneasiness and prices were firmly
maintained quite generally. In the India section, however,
som e manufacturers were said to be in need of orders. Stocks
at Calcutta were reported to be heavy, precluding any
markedi increase in dem and for further im portant supplies in
the near future, and B om bay, though n ot overstocked, ad­
vised that current distribution was not encouraging. From
other markets only a m oderate inquiry was in evidence as a
rule. H om e trade quiet. A n interesting developm ent of
the m on th and having a bearing on future cotton supply was
the com m itting of the G overnm ent to the preparation of
plans for a railway in Nigeria. The third annual session of
the International Congress of Cotton Spinners, held at Bre­
m en, had under discussion m any matters of im portance to
the trade. E xports of yarns and goods from Great Britain
reached a total of 103,408,000 lbs., against 114,175,000 lbs.
in June 1905. The average weekly rate of consum ption con­
tinued as estim ated for the previous m onth. Liverpool.—
The m arket for the raw material was devoid of features call­
ing for special com m ent. Trade was com paratively light
b u t no weakness developed, fluctuations being within narrow
lim its, with the tendency tow ards a slightly higher level.
Middling uplands opened the m onth at 6 .0 2 d ., was dow n to
5.99d. on the 6th and up to 6 .l i d . on the 12th. I t eased off
to 6.06d. b y the 14th bu t recovered the loss b y the 18th.
During the remainder of the m onth the range was between
5.05d. and 5.19d ., with the close at 5.14d.
J U L Y .— Manchester — The m arket for cotton goods was
devoid of any features of im portance, aside from the fact
th at, despite the quiet trade in progress, manufacturers
generally m aintained a firm stand on quotations. Spinners
as well as weavers were well sold ahead, b u t, the volum e of
new orders not being up to the previous average, their posi­
tion was not so strong at the close of the m onth as at the open­
ing. Nevertheless, no uneasiness was felt, as unfilled orders
were still sufficiently form idable to insure full working for
som e tim e. Russian affairs were the cause for a little weak­
ness towards the end of the m onth, bu t it was not marked.
Dem and from India was rather quiet, bu t with crop reports
very favorable the outlook was considered good . Orders
from China were rather better, notwithstanding the uncertain
aspect of affairs in that quarter. Other markets were quiet
as a rule. E xports of yarns and goods from Great Britain
reached a total of 130,524,000 lbs., against 117,017,000lbs.
in July 1905. Mr. Ellison made no change in his estimated
rate of consum ption. Liverpool.— In com m on with the trend
of events in m anufacturing centres, the m arket for the raw
material was quiet. Fluctuations were within narrow limits
with quotations tending downward the last half of the
m onth. The opening quotation for m iddling uplands was
6.10d ., from w hich level there was at first a slight easing off
and then an advance to 6.16d. on the 11th— the highest price
of the m onth. Changes of a few points a day were the rule
thereafter and at the close the ruling quotation was 5.99d.
A U G U S T . — Manchester — The cotton goods m arket dis­
played no features of im portance during the m onth of August.
T rad e was quiet generally and prices of both yarns and
cloths eased off m oderately, A t the opening of the month
a better inquiry from China was reported, resulting, however,
in b u t little business, and fair purchases of shirtings were
made for India. Later on, the decline in cotton checked de­
m and for m anufactured products and the volum e of trans­
actions— meagre b y comparison with earlier m onths— was
confined largely if not wholly to pressing requirements.
M anufacturing establishments, how ever, were still well under
con tract and consum ption of the raw material continued on a
full basis Liverpool.— No developm ents of im portance were
witnessed in the market for the raw material except the steady
decline in prices for American cotton , which set in almost at
the opening of the m onth and continued until near the close.
The tone was in the main quiet. Middling uplands ruled at
5 9 8 d .on the 1st and advanced to 5.99d. on the 2nd. From
that level there was an almost continual drop day b y day,
until 5.37d. was reached on the 25th
A reaction then oc­
curred, carrying the quotation up to 5.55d. on the 28th, bu t
subsequently the im provem ent was largely lost, the close be­

[VOL,. L X X X U I.

Great
Britain.

538

7,444
8,120
8,505
8,891
9.267
9,795

100
120
130
140
150
160
134

8,670

924
914
918
959
1,074
1,105

99
150
200
192
286
363

106
125
195
105
160
129

10,511
10,585
10,291
10,580
11,543
11,605

7,019

1,812

700 2,512

983

215

120 10,849

1896-97--.
1897-98 . . .
1898-99 . . .
1899-00 . . .
1900-01
1901-02 . . .

3,224
3,432
3,519
3,334
3.269
3,253

4,368
4,628
4.7S4
4,576
4,576
4,836

7,592
8,060
8,303
7,910
7,845
8,089

962 2,738
1,776
1,808 1,154 2,962
2,244 1,309 3,553
2,355 1,501; 3,856
2,150 1,577i 3,727
2,207 1,8301 4,037

1,004
1,141
1,314
1,139
1.060
1.384

414
534
703
711
632
726

132 11,880
191 12,888
142 14,015
157,13.773
152 13,416
179 14,415

Av. 6 y’rs
1902-03 - .1903-04
1904-050
1905-06O-.

3,339
3,185
3,017
3,620
3,848

4.628
5,148
5,148
5,148
5,252

7,967
8,333
8,165
8,768
9,100

2.089 1,389' 3,478 1,174
2,048 1,967 4,015 1,364
2,001 1,907 3,908 1,368
2,194 2,116! 4,310 1.474
2,440 2,286 4,726 1,546

620
567
693
755
850

159
199
176
235
173

Av. 6 y’rs 3,198 3,821

13,398
14,478
14,310
15,542
16,395

a Figures of European consumption for 1904-05 and 1905-06 will probably
be changed slightly by Mr. Ellison in his October Annual.

A nother general table w hich we have com piled of late
years is needed in connection with the foregoing to furnish
a com prehensive idea of th e extent and the expansion of
this industry. It discloses the w orld ’s cotton su pply and
the sources of it. The special points we have sought to
illustrate b y the statem ents are, first, the relative c o n tr i­
bution to the w orld’s raw material b y the United States and
b y other sources, and, second, to follow its distribution.
Beginning with 1896-97, the figures of visible supply include
Alexandria and B om b a y stocks.
WORLD’S SUPPLY AND DISTRIBUTION OF COTTON.

500-lb.
bales.

Visible
and
Invisible
Supply
Begin­
ning 0]
Year.

Crops.
United
All
Stales, i Others.

Total.

Total
Actual
Consump­
tion.

Balance of Supply.
End o/ Year.
1
visible.
984.000
968.000
999.000
772.000
682.000
846.000

In­
visible.
359,000
473.000
474,000
519,000
437,000
231,000

1.550.000
18848 5 .-1.343.000
18858 6 .-1.441.000
18868 7--1.473.000
18878 8--1.291.000
188889-—
1.119.000
18899 0 .-.
Average
6 years

5.136.000 2,101,000 7,237,000 7.444.000
5.984.000 2,234,000 8,218,000 8.120.000
5,960,0002,577,000’ 8,537.000 8.505.000
6.400.0002.309.000 8,709,000 8.591.000
9.267.000
6.463.000
2,632,000 9,095,000
6.820.000 2,933,000 9,753,000 9.795.000

1.077.000
18909 1 .-1.742.000
18919 2--2.818.000
18929 3--2,258,000
18939 4 --.
1894-9 5--- 2,128.000
3,203,000
18959 6 .-Average
6 years.

10.511.000 1.315.000 427,000
8.137.000
3,039,000 11,176.000
8.640.000 3,001,000 11,641.000 10.565.000 2.310.000 SOS,000
6,435,0003,296,000; 9,731,000 10.291.000 1.903.000 355.000
7.136.0003.314.00010.450.000 10.580.000 1.792.000 336.000
11.543.000 2.185.000 1,018,000
9.640.0002.978.000
12,618,000
6.912.0003.421.000 10,333,000 11.605.000 1.231.000 700,000

6.127.0002.464.000 8,591,000 8,670,000

7.817.000 3.175.000 10.992,000 10,849,000

189618971898189919001901Average
6 years.

8,435,868 3.438.000 11,873,86S 11,880.332 1,295,636 628,000
1,931,000
97—10.890.000 3,316,290 14.206,290 12.8S8.76S 1,905.15S 1,336,000
1.923,636
98 . .
3,694.934 14.772,934,14,014,72S 2,371,3641,628,000
11.078.000
3,241,158
9 9 -_
9.137.000 3,092.897 12.229.897! 13,772,772 1.071.4S9 1.385,000
3.999,364
00— 3,414,454 13,632,454:13,415,916 1,549.027 1,124,000
10.218.000
2,456.489
0 1--10,380.380 4.033,569 14,413,949; 14.414.908 1.306.06S 1,366,000
2,673,027
02.-

1902190319041905-

10,511,0204,215.661
2.672,068
0 3 .-2,921.061
9.841,671 4,317.670
0 4 .-13,420,440 4,524,000
2,770,244
05. - .
11.048,000 4.772,000
5,172,633
0 6 --

10.023,207 3,498,35S 13,521,565 13.397,911
14.726,687 14,477,694 1.177.6771.743,384
14,159.341 14,310.158 1,085.2371,735,007
17,944,056 15,541.667 2.501.469 2.671,164
15,820 000 16.395.228 1.702,485 2.894,920

To illustrate the preceding, take the last season, 1905-06. and the results would
be as follows:
Supply— Visible and invisible stock beginning of year____________ bales. 5.172,633
Total crop during year___________ _______ ________ ______ — 15.S20.000
Total supply—bales of 500 lbs______________________________20.992.633
Distribution— Total consumption. &c--------------------------------------------------- 16,395.228
Leaving visible stock__________________________ 1,702.485
Leaving Invisible stock________________________ 2,894,920
Total visible and invisible stock at end of year__________ 4,597,405

Overland and Crop M ovem ent.
O verlan d.— The marketing of cotton via the overland
routes has fallen off in greater ratio this season than
has the total crop m ovem ent, the decline in the form er
having been 2 l % % , against only 1 6 )^ % in the latter.

THE CHRONICLE.

S e p t . 8 1906.]

539

TEXAS.
Furthermore, the volume of cotton moved northward by
-1 9 0 5 -0 0
-1904-05.rail this season reaches only 1 1 % of the total crop, against Exported from Galveston, &c:
To foreign ports (except Mex­
1 1 .5 8 % in the year previous. It is quite evident from this
ico)..............
...2 ,23 7 ,71 0
2,413,828
that there is a disposition wherever and whenever practi­
To Mexico, from Galveston,
11,257
53,600
Corpus Christl, &c-----------cable to avail of the water routes in making shipments to
To coastwise ports . a __ v------- 576,129
668,500
Burnt _____________________
_____
Northern ports or mills on account of lower freights.
70,186— 3,206,180
Stock at close of year---------------52,318— 2,877,420
W ith regard to the 1905-06 movement overland by rail, Deduct—
Received from New York,
107
1,452
practically all important routes have shared in the recorded
Stock beginning of year...........
70,186—
70,293
43,225- • 44,677
loss. The falling off via Cincinnati and Louisville is, of
3,161,503
Total movement for year----------2,807,127
course, very slight, and the Rock Island system has suffered
a Coastwise exports Include 5,362 bales shipped Inland.
to the extent of only about 1 5 % .
But the Illinois Central
ALABAMA.
road exhibits a decrease of 34 % in the amount of cotton
Exported from Mobile: a
hauled, and the loss via St. Louis is heavy— 1 8 % . The
183,988
To foreign ports------------------- 139,954
143,384
To coastwise ports---------------- 109,422
movement to the Pacific seaboard has decreased materially,
Burnt
------- ------------------ ----------------owing to the fact that Japan, with a formidable stock of Stock at close of year---------------" 3,381— 330,753
4,355— 253,731
—
raw material on hand, has taken a much smaller amount of Deduct
41
Receipts from Pensacola, &c................
1,156—
1,197
3,381
Stock beginning of yea r..........
3,381—
cotton from the United States than in the preceding year.
To indicate the relation the gross overland movement bears Total movement for year----------329,556
250,350
to the total yield in each of the last twenty years, we ap­
a U n d e r th e h ea d o f c o a s tw is e sh ip m e n ts fr o m M o b ile are in c lu d e d 583
b a les sh ip p e d in la n d b y rail fo r c o n s u m p tio n , w h ic h , w ith c o n s u m p tio n ,
pend the following:
are d e d u c te d in th e o v e r la n d m o v e m e n t.

Crop of —

1 9 0 5 -0 6 _______
1 9 0 4 -0 5 _______
1 9 0 3 -0 4 _______
1 9 0 2 -0 3 _______
1 9 0 1 -0 2 _______
1 9 0 0 -0 1 _______
1 8 9 9 -0 0 _______
1 8 9 8 -9 9 _______
1 8 9 7 -9 8 _______
1 8 9 6 -9 7 _______
1 8 9 5 -9 6 _______
1 8 9 4 -9 5 _______
1 8 9 3 -9 4 ......
1 8 9 2 -9 3 _______
1 8 9 1 -9 2 _______
1 8 9 0 -9 1 _______
1 8 8 9 -9 0 _______
1S 8S -S 9_______
1 8 8 7 -S 8 _______
1 8 8 6 -8 7 _______

Total Yield.

Increase and Decrease.

Gross
Overland.

Bales.

B ales.

1 1 ,3 1 9 ,8 6 0
13,556.8 4 1
1 0 ,1 2 5 .1 7 6
1 0 ,7 5 8 .3 2 6
10 .7 0 1 .4 5 3
10.425,1 4 1
9 ,4 3 9 ,5 5 9
1 1 .2 3 5 .3 8 3
1 1 ,1 8 0 ,9 6 0
S .714,011
7 ,1 6 2 ,4 7 3
9 .S 9 2 .7 6 6
7 ,5 2 7 ,2 1 1
6 .7 1 7 ,1 4 2
9 .0 3 8 .7 0 7
8 .6 5 5 ,5 1 8
7 ,3 1 3 ,7 2 6
6 ,9 3 5 .0S2
7 .0 1 7 ,7 0 7
6 .5 1 3 .6 2 3

1 ,2 3 4 ,6 4 1
1 ,5 6 9 .8 7 0
1 ,1 2 0 ,9 9 3
1 ,4 3 8 ,2 6 8
1 .6 7 5 .0 4 2
1 J 6 7 .6 4 6
1 ,7 9 0 ,23S
2 ,0 5 7 .0 2 4
1 ,8 9 6 ,0 1 1
1,28 2 ,2 1 1
1 ,1 9 0 .2 9 9
1 .8 6 7 ,1 0 4
1 ,2 5 3 ,8 5 6
1 .2 9 0 .5 1 2
1 ,S 0 0 ,482
1 ,6 6 6 ,1 4 5
1 ,4 2 9 ,1 9 2
1 ,4 6 0 ,ISO
1 ,4 4 1 ,9 2 0
1 ,2 9 2 ,1 6 7

C h an ge fro m season o f ’ S 6 -’ 87 t o ’ 0 5 -’ 06

Of C rop.

Of Overland.

P er cent.
Decrease
Increase
Decrease
Increase
Increase
Increase
Decrease
Increase
Increase
Increase
Decrease
Increase
Increase
Decrease
Increase
Increase
Increase
Decrease
Increase
Decrease

16.51
33.8 9
6.07
0 .5 3
2 .6 4
10.44
15.9 9
0 .48
28.31
2 1 .6 6
2 7 .6 0
31 .4 3
12.0 6
2 5 .6 8
4 .4 3
18.3 5
5 .4 6
1 .18
7 .7 4
0 .5 6

Increase 8 9 .0 9

P e r cent.
D ecrease
Increase
Decrease
Decrease
D ecrease
D ecrease
D ecrease
Increase
Increase
Increase
Decrease
Increase
D ecrease
D ecrease
Increase
Increase
Decrease
Increase
Increase
Increase

21.35
40 .0 7
22 .0 6
14.19
5.4 9
1.28
12.9 8
7 .83
4 7 .9 0
7 .72
36.25
4 8 .6 4
2 .8 4
28.3 2
8.0 6
16.58
2 .12
1.27
11.59
2.5 3

D ecrease 2 .0 3

In determining this }rear the portion of the crop forwarded
by each of the different overland routes, we have followed
our usual methods—
F i r s t — Of counting each bale of cotton at the Southern
outport where it first appears.
S econd — 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.
F o u rth — Of deducting likewise arrivals by railroads at
New York, Boston, Baltimore and Philadelphia, all of
which have been counted in the receipts from week to week
during the year.
W ith these explanations, nothing further is needed to
make plain the following statement of the movement over­
land for the year ending Aug. 31 1906.
.1905-06.

1904-05.

1903-04.

Am ount sflipped —

Via
Via
Via
Via

St. Louis-------------------------------- Bales
Cairo.________ ______________________
Rock Island_________________________
Louisville___________________________
V ia Cincinnati__________________________
Via oth er routes________________________
Shipped to mills, not included above_____
Total cross overland________

548,976
202,290
45,094
103,209
58,654
275,715
703

667,079
333,680
53,139
104,699
61,395
349.224
654

520,091
257,416
13,731
123,493
32,590
166,291
7,356

1,234,641 1,569,870 1,120,968

D ed u ct sh ip m e n ts—

Overland to New York, Boston, &c
Between interior towns, &c_____________
Galveston, inland and local mills________
v Orleans, inland and local mills_____
Mobile. Inland and local mills____________
Savannah, inland and local mills________
Charleston. Inland and local mills______
North Carolina ports, inland & local mills
Virginia pons, Inland and local mills___
Total to be deducted

146,396
24,438
467
28,347
5,857
6,165
21 ,187
4,940
11,251

194,929
74,240
1,814
30 093
7,726
7,830
4,922
2,988
11,113

9S.325
31.S37
139
52,386
6,697
17,785
17,023
3,297
12,870

249,048

335,655

240,359

985,593 1,234,215

880.G09

7 This total Includes shipments to Canada by rail, which during 1905-06
amounted to 114,872 bales, and are deducted in the statement of consump­
tion.

of

r ROP D E T A IL S .— W e now proceed to give the details
the entire crop for two years.
L O U IS IA N A .

E x p o r t e d from N ew O rleans:

----------1905-00--------------------- 1904-05----------

To foreign ports ..................... 1,569,000
2,459,369
To coa tv.ise ports---------------- 104,485
195,000
To Southern ports, &c., by
river and ralLa...................
10.428
1G.017
Manufactured, a ...............................
17,919
14,070
Burnt
....... ............... .................... ..
18.904
Stock at close of year.................
15,273— 1.717,711
43.444— 2,740,870

G E O R G IA .
E x p o r t e d fro m S a v a n n a h :
947,556
1,276,409
T o fo re ig n p o rts— U p la n d ____
14,702
19,199
T o fo re ig n p o r ts — S ea I s la n d .
T o co a stw ise p o r ts —
529,283
521,305
U p l a n d .a ____________________
52
1 ,3 0 5
44,392
45,669
S ea Is la n d s , a ____________
E x p o r t e d fro m B r u n s w ic k , & c:
169,738
148,551
T o foreig n p o r t s ----------------------- 148,551
27,769
32,848
T o co a stw ise p o r t s ____________
3
2 ,8 4 8
B u rnt __________________________
S to c k at close o f y e a r—
17,692
28,549
U p la n d _________________________
17,692
1,176— 1,733,996
2,329— 2,093,171
S ea I s l a n d ______________________
Deduct —
5,972
4,907
R e c e iv e d fr o m C h a rle sto n , & c.
R e c e iv e d fr o m F lo r id a —
U p la n d , b ___________________
S to c k b e g in n in g o f y e a r —
9,204
28,549
U p la n d _______________________
36,850
3,621—
17,732
2,329—
S ea Is la n d ___________ _____

Total movement for year.............

20,110
1,003
12
43,444—

64,509
1 .653,142

a In overland we have deducted these two Items.

57,350
2,080,520

183,152

Total movement for year.

217,649

a These figures represent this year, as heretofore, only the shipments
from the Florida outports. Florida cotton has also gone inland to Savannah,
& c., but we have followed our usual custom of counting that cotton at
the outports where it first appears.
S O U T H C A R O L IN A .
E x p o r t e d fro m C h a rleston :
T o fo re ig n p o r ts — U p la n d ____
9 ,9 0 0
T o fo re ig n p o r ts — S ea Is la n d .
_______
T o co a stw ise p o rts—
U p l a n d .a ____________________
1 5 3 ,5 0 7
S ea Is la n d ___________________
13,782
E x p o r t e d c o a s tw is e —
F r o m G e o r g e to w n , & c ________
1,290
B u rn t _________________________
S to c k at close o f y e a r—
U p la n d _________________ _______
3,443
S ea I s la n d ______________________
21 —
181,943
Deduct —
R e c e iv e d fro m S a v a n n a h , & c .:
U p la n d _______________________
49
S ea I s l a n d ___________________
S to c k b e g in n in g o f y e a r —
U p la n d _______________________
4,132
4,272
S ea I s l a n d ___________________
91-

Total movement for year.

77,680
316
131,694
11,784
902
4,132
91—

226,599

277
3
237
94—

177,671

611
225,988

a Included in this item are 21,187 bales, the amount taken by local
mills and shipped to interior, all of which is deducted in overland.
NORTH CAROLINA.
Exported from Wilmington:
320,083
365,099
To foreign ports____________
To coastwise ports .a
3,938
5,550
Coastwise from Wasningt‘n, &c_
91,984
74,809
Manufactured_________________
2,282
4,404
B u r n t __ _____ _______________
Stock at close of year__________
314— 403,548
2,790— 467,405
Deduct—
Received from Savannah_______
50
Stock beginning of year________
88
38—
2,7902,790
Total movement for year_______

467,317

400,758

a Of these shipments, 536 bales went Inland by rail from Wilmington and
with local consumption are deducted in overland.
VIRG IN IA.
E x p o r t e d from N o r fo lk :

To foreign ports____________
To coastwise ports.a______
Exp. from Newport News, &c:
To foreign ports___________
To coastwise ports__________
B u r n t ........................................
Taken for m anufacture_______
Stock end of year, Norfolk_____

27,189
644,313

Received from Wilmington,&c
Received from other North
Carolina ports.......................
Received at Newport News,
<fcc., from Norfolk, &c_____
Stock beginning of year...........

3,214

133

74,809

91,984

Deduct —

34,050
1,300
22,000—

2,075,439

a The amounts shipped inland and taken for consumption are deducted
in overland.
b There were no receipts at Savannah by water from the Florida outports
this season;.but 26,500 bales from interior of Florida were received at
Savannah by rail.
FLO RID A.
Exported from Pensacola, &c.: a
205,921
To foreign p o rts _____________ 176,961
23,007
To coastwise p o rts __________
18,700
7,808— 236,736
Stock at close of year________
4,104— 199,765
Deduct—
19,087
Received from Mobile_______
8,805
Stock beginning of year______
7,808—
16,613
19,087

Deduct —

Received from Mobile.............
Received from New York.. . .
Received from Liverpool, &c_
Stock beginning of year...........

1,697,146

T o t a l m o v e m e n t fo r y e a r ______

Total movement for year
|

7,183
19,586
2,510
9,995
9.928—
9,928—

7,017
15^543—
15,543—

24,354
779,077
24,831
10,427
720.704
720,704

100,583
620,121

10,553

115,543—
5 ,5 4 3 — 864,785

14,208
1,141—

107,466
757,319

a Includes 1.256 bales shipped to the Interior, which, with 9,995 bales
taken for manufacture, are deducted in overland.

540

THE CHRONICLE
T E N N S E S E E . ETC.
— 1905-06.--------------------- 1904-05.-

S hipm ents—
To manufacturers direct— net
ov erla n d _____ ______ __________
To New Y ork, Boston, & c., by
r a il_____________________________

985,593

1,234,215

146,396

194,929

Total
marketed
from
Ten­
nessee, &c. a __________________

1,131,989

1,429,144

a Except 33,980 bales deducted In overland, previously counted.

Total product detailed In the foregoing by States for the year
ending September 1 1906__________________________________ bales. 8,921,456
Consumed In the South, not Included______________________________ 2,398,404
Total crop in the TJ. S. for year ending Sept. 1 190 6 _______b a le s.11,319,860

B elow we g iv e th e to ta l cro p e a ch y ea r sin ce 1875:
Y ea rs.
B ales.
1 9 0 5 -0 6 ______ 11,319,860
1 9 0 4 -0 5 ______ 13,556,841
1 9 0 3 -0 4 ______ 10,123,686
1 9 0 2 -0 3 ______ 10,758,326
1 9 0 1 -0 2 ______ 10,701,453
1 9 0 0 -0 1 ______ 10,425,141
1 8 9 9 -0 0 _____ 9,439,559
1 8 9 8 -9 9 ______ 11,235,383
1 8 9 7 -9 8 ______ 11,180,960
1 8 9 6 -9 7 _______ 8,714,011

Y ears.
B ales.
1 89 5 -9 6 _____ 7,162,473
189 4 -9 5 _____ 9,892,766
1 8 9 3 -9 4 _____ 7,527,211
1 8 9 2 -9 3 _______ 6,717,142
189 1 -9 2 _____ 9,038,707
1 8 9 0 -9 1 _____ 8,655,518
1 8 8 9 -9 0 _______ 7,313,726
1 8 8 8 -8 9 ______ 6,935,082
1 8 8 7 -8 8 _______ 7,017,707
1 8 8 6 -8 7 _______ 6,513,623

Y ears.
B ales.
188 5 -8 6 _____ 6,550,215
1 8 8 4 -8 5 _____ 5,669,021
1 8 8 3 -8 4 _______ 5,714,052
1 88 2 -8 3 _____ 6,992,234
1 8 8 1 -8 2 _____ 5,435,845
1 8 8 0 -8 1 _____ 6,589,329
1 8 7 9 -8 0 _____ 5,757,397
1 8 7 8 -7 9 _____ 5,073,531
1 8 7 7 -7 8 _______ 4,811,265
1 8 7 6 -7 7 _____ 4,485,423

W e ig h t o f B a le s.
T h e a verage w eig h t o f ba les an d th e gross w eig h t o f th e
cro p we h a v e m a d e up as fo llo w s fo r th is y e a r , a n d g iv e la st
y ea r fo r co m p a ris o n .
Year ending September 1 1906.
Movement
Through—
Texas _________
Louisiana_____
Alabama _ __
Georgia.a .
South Carolina . .
Virginia . . ._
North Carolina . .
Tennessee, &c__

Number
of Bales.

Weight in
Pounds.

Year ending September 1 1905.

Av’age Number
W ei’ht of Bales.

Weight in
Pounds.

A v ’age
W ei’ht

2,807.127 1,481,517,417 527.77 3,161,503 1,668,736,128 527.83
1,653,142 850,558,090 514.51 2,689,520 1,405,059,038 522.42
175,046,965 531.16
250,350 130,787,847 522.42
329,556
946,918,073 503.60 2,293,088 1,166,035,248 508.50
1,880,298
114,928,457 508.56
88,430,410 497.72
177,671
225,988
020,121 308,342,765 497.23
757,319 377,871,888 498.96
199,325,006 497.37
400,758
467,317 233,728,597 500.15
3,530,393 1,782,848,465 505.00 3,632,550 1,855,324,912 510.75

Total crop____ 11.319,860 5,788,728,073 511.37 13,556,841 6,996,731,233 516.10
a Including Florida.

A cco rd in g to th e fo r e g o in g , th e a v era g e gross w eig h t p er
bale this season w as 511.37 lb s ., a ga in st 5 16.10 lb s. in 1904-05
or 4.73 lb s. less th a n la st y e a r.
H a d , th e re fo re , as m a n y
p ou n d s b een p u t in to ea ch b a le as du rin g th e p re v io u s sea­
so n , th e cro p w ou ld h a v e a g g re g a te d 1 1 ,2 1 6 ,3 0 0 b a les. T h e
rela tion o f th e gross w eigh ts this y e a r to p re v io u s y ea rs m a y
b e seen fro m th e fo llo w in g co m p a riso n .
C rop.
Season of—
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
1892-93
1891-92
1890-91
1889-90
1888-89
1887-88
1886-87
1885-86
1884-85
1883-84
1882-83
1881-82
1880-81
1879-S0
1878-79
1877-78

________ ________ ____
__________ ________
. . . _________________
______________ _ ____
. . . ___________ . . . _
____ _______________ _
_________ ____________
________ ___________ .
. . . ____________ . . .
____ __ _____________
_____________________ _
________ . . . _____
________________
____
. _ _________________
_ _______ __ ___________
. . ________ __
_ ._
_______________________
_______________________
____ . . . ____________
. . . ________________ .
._ ____________________
_____
_ _ ________
_____ _________ ______
____________ _______ _
____ . . . __________
_
. . . ______________ . .
. . . __________________
._ ____________ _ . . .
_______________________

N o . of B ales.

W eigh t, P ou n d s.

11,319,860
13,556,841
10,123,686
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
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

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

A verage
W eight,
per bale.
511.37
516.10
507.86
508.55
504.90
510.25
503.69
513.14
506.88
503.08
502.03
507.38
497.98
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

E x p o r t M o v e m e n t o f C o tto n G o o d s fr o m U n ite d S ta te s.
W e p resen t b e lo w a ta b le c o m p ile d fr o m th e retu rn s o f
e x p o rts o f c o tto n g o o d s fr o m th e U n ited S tates as re p o rte d
b y th e B u reau o f S ta tis tic s . T his co m p ila tio n fittin g ly su p­
p lem en ts th e ta b le g iv e n fu rth er a b o v e in th is re v ie w .
T he
figures are fo r th e la st th ree fiscal y ea rs an d are p resen ted in
su ch fo rm as en ables the read er to see a t a g la n ce th e v a r ia ­
tion s fr o m y e a r to y e a r in th e v o lu m e o f g o o d s sen t to the
v a riou s cou n tries o f th e w o r ld .
I t w ill b e n o tic e d th a t the
1906 t o t a l, w h ich reach es $ 5 2 ,9 4 4 ,0 3 3 , e x ce e d s th a t fo r
1905 b y o n ly $ 3 ,2 7 7 ,9 5 3 , b u t is $ 3 0 ,5 4 0 ,3 2 0 grea ter th a n th a t
fo r 1904.
EXPORTS OF COTTON MANUFACTURES.
Years end---------------- 1906-------------- --------------1905-------------- --------------1904------------- ing June 30
Tot. value.a
Tot. value.a
Tot. value.a
To—
Yards.
S
Yards.
$
Yards.
S
E urope... 5,398.249
3,66S,S77 5,269,308 2,431,642 3,662,353
2,771.318
Canada . . 9,988.015
3,587,567 9,005,106 3,029.341 9.951,984
3,132,254
Cent. A m . 27,746,701
2,260,618 27,354,937 2,205,877 21,538,721 1,741,714
W estlnd’s 51,690,878
3,489,583 42,329,885 3,007,348 26,216,970 2,209,657
So. Arner. 51,072,310
3,672,676 57,049,376 4,184,474 53,001,936 3,698,392
China ...498,521,402
29,814,075 474,909,510 2S,017,190 76,886,534 4,138,970
Other Asia
& O’nica 56,253,823
4,840,553 69,053,660 5.319.S67 46,367,543 3,440,574
Africa------ 8,129,391
782,224 6,209,806
5S6,.350 6,718,689
535,073
All others. 2,686,285
827,860 3,319,127
8S3.991 3,036,001
735,761
Total ..711,493,054 52,944,033 694,500,715 49,666,080 247,380,731 22,403,713
a Includes values of manufactures not stated in yards.

N ew C rop an d I t s M a rk e tin g .
I t is n o t w ith in ou r p r o v in c e a t th is ea rly d a te to speak
w ith a n y degree o f c e rta in ty o f th e c o tt o n cro p n o w m a tu r­

[ VOL. L X X X III.

in g , fu tu re c o n d itio n s o f w ea th er b e in g fa r to o Im p orta n t
fa c to r s to b e lig h tly dism issed fr o m c on sid era tion .
A t th e
m o m e n t th e o u tlo o k o n th e w h ole is b etter th an it w as
a t th is tim e a y ea r a g o , a n d co n s e q u e n tly , w ith a n orm a l
season fr o m n o w o n , co n sid e rin g likew ise th e enlarged
area p la n te d , w e sh ou ld n a tu ra lly e x p e c t an a p p recia b le
grea ter y ie ld th an in 1905.
B u t, as we h a v e o fte n sta te d ,
it is fo lly to estim a te or ev en v en tu re a guess u ntil after the
o ccu rre n ce o f fro st.
A s is q u ite u n iv ersa lly k n o w n , a
h ea lth y c o tt o n p la n t co n tin u e s (w ith in certa in lim its) to
m ak e fru it u n til a killin g fro st; it w ill th erefore b e u n d er­
s to o d h o w im p o r ta n t to th e p la n ter is th e d a te o f its o c c u r ­
ren ce. W h e n th e cr o p is an e sp e cia lly early o n e , fro st co m in g
a t an a v era g e d a te or la te is n o t so seriou s a fa c to r ;
b u t w ith th e p la n t o n ly a v era g e or la te, an d th e frost e a rly ,
th e y ie ld m a y b e v e r y m a te ria lly sh orten ed .
C onse­
q u e n tly ea rly e stim a tes, n o t ta k in g in to con sid era tion this
p a rticu la r clim a tic c o n d itio n , are p r a c tica lly w orth less.
T his y e a r , as in all o th e r sea son s, there are som e a u th en ti­
ca te d fa c ts fr o m wdiich w e ca n a t th is d ate d ra w co n clu sion s.
A ll a u th o ritie s agree th a t a larger area w as p la n ted last
sp rin g th an in th e p re ce d in g y e a r , a lth ou g h th ere is c o n ­
sid erable d iv e rg e n ce o f o p in io n as to th e e x te n t o f th e a d d i­
tio n .
O ur estim a te o f th e in crea se w as rath er greater th an
m o st o f th ose issu ed , b u t it w as b a sed u p o n a ca refu l co n sid ­
era tion o f all o b ta in a b le in fo r m a tio n an d seem ed to us to
q u ite c o r r e c tly m easu re th e te n d e n c y .
O n a c co u n t o f th e
w ide d iv e rg e n ce b e tw e e n o u r to ta l o f a creage fo r th e 1906
p la n tin g an d th a t o f th e A g ricu ltu ra l D ep a rtm en t (p a rt o f
w h ich w'as d u e to th e D e p a r tm e n t’ s re d u ctio n in Ju ly last
y e a r, fo r c e d b y th e S ou th ern C o tto n A s s o c ia tio n ), w e h ave
m ad e a fu rth er in v e stig a tio n sin ce th e p u b lica tio n o f our
a creage re p o r t.
A s a resu lt th e r e o f w e ca n fin d n o w a rra n t
in th e d a ta re ce iv e d fo r rev isin g ou r 1906 figures; on th e
co n tra ry w e are co n firm e d in th e b e lie f th a t th e p ercen ta g e
o f in crease re a ch e d b y us fo r 1906— 9 .5 4 % — is as tru e an
in d ica tio n o f th e te n d e n c y last sp rin g as w e can arriv e a t .
In p o in t o f m a tu r ity , th e cro p n o w b eg in n in g to co m e to
m a rk et w as on June 1 a b o u t an a v e ra g e o n e , and th erefore
m ore a d v a n c e d th a n a y e a r a g o .
D u rin g June th e rain fall
was in excess in m a n y section s o f th e A tla n tic States b u t w ith ­
o u t m a teria l in ju r y to th e p la n t b e in g r e p o rte d , a n d else­
w here co n d itio n s w ere in th e m ain sa tisfa cto ry .
J u ly w as
a re p e titio n o f June in th e e x tre m e eastern section o f th e b e lt ,
to o m u ch m oistu re b e in g co m p la in e d o f, and rep orts o f e x ­
cessive p r e c ip ita tio n w ere a t tim es th e feature, o f a d v ice s
fro m p o rtio n s o f a b o u t all th e c o tt o n S tates. A u g u s t, so
far as th e A tla n tic S ta tes are c o n c e r n e d , w as lik e J u ly in
suffering fro m an ex cess o f m oistu re.
W e n o w a p p en d ou r usual d a ta b e a rin g u p o n th e m a tu rity
o f th e p la n t, g iv in g first th e d a tes o f arrival o f first b a les.
This y ea r th e earliest re ce ip t w as at G a lv e sto n , T e x a s , on
J u ly 5. L ast y ea r th e first b a le ca m e fro m S tarr C o u n ty ,
T e x a s, on June 2 7 , and th e earliest b ales in th e oth er y ea rs
in clu d e d in th e ta b le w ere also p r o d u c e d in T ex a s.
D a te o f R eceip t o f F ir s t B a le.
1900.

1901.

1902.

1903.

1904.

1905.

1906.

V irgin ia — }
Norfolk _
Aug. 18 Sept. 3 Aug. 11
Aug. 27
Aug. 30
N o . C a r.—
C harlotte____ Aug. 13 Aug. 29 Aug. 14 Aug. 28 Aug. — Aug. 18 Aug. 28
W ilmington __ Aug. 11 Aug. 31 Aug. 15 Aug. 25 Aug. 26 Aug. 25
S o. C a r.—Charleston----- Aug. 7 Aug. 20 Aug. 2 Aug. 21 Aug. 15 A ug. 5 Aug. 16
Greenwood
Aug. 27 Aug. 13 Aug. 31 Aug. 27 Aug. 17
27
Georgia—
A u g u sta _____ Aug. 7 Aug. 16 Aug. 2 Aug. 13 Aug. 3 July 31 Aug. 7
Savannah—
From Ga___ July 28 Aug. 14 July 23 Aug. 4 July 23 July 21 Aug. 2
From Fla _ _ Aug. 18 Aug. 26 Aug. 11 Aug. 26 July 27 Aug. 8 Aug. 18
Albany
____ July 27 Aug.
Aug. 3 July 22 Julv 20
C o lu m b u s___ Aug. 7 Aug. 20 Aug. 2 Aug. 28 Aug. 23 Aug. 3
A labam a—
Montgomery _ Aug. ii Aug. 14 July 30 Aug. 24 July 24 Aug. 3 Aug. 6
M o b ile _______ Aug. 14 Aug. 12 Aug. 6 Aug. 24 Aug. 14 Aug. 3 Aug. 16
Selma —
— Aug. 9 Aug. 15 July 27 Aug. 2S Aug. 12 Aug. 7 Aug. 9
Eufaula
Aug. 9 Aug. 20 Aug. 6 Aug. 14 Aug. 15 July 29 Aug. 15
L ou isia n a —
New Orleans _
From Texas Aug. 18 Aug. 13 July 21 Aug. — July
5" July 14 July
7
“ Miss. V al. Aug. 15 Aug. 16 July 31 Aug. — Aug. 13 Aug. 20 Aug. 9
Shreveport___ Aug. 14 July 11 Aug. 8 Aug. IS Aug. 9 Aug. 17 Aug
8
M is s 'ip p i—
V ic k sb u r g ___ Aug. 24 Aug. 23 Aug. 2
Aug. 25 Aug. 22 Aug. 25
Columbus____ Aug. 29 eAug.21 Aug-. 1
Aug. — Aug. 25 Aug. 15
__
Greenville____ Aug. 21 Aug. 28 Aug. 13 Sept. 3 Aug. 26 cAug.24
A rk an sa s—
Little R o c k .. Aug. 25 Aug. 17 Aug. 14 Aug. 28 Aug. 31 Aug. 30 Aug. 27
Helena ____ Aug. 17 Aug. 26 Aug. 9 Sept. 1 Aug. 27 Aug. 29 Aug. 28
Tennessee—
M e m p h is____ Aug. 15 Aug. 16 Aug. 11 Aug. 29 Aug. 25 Aug. 24 Aug. IS
Texas—■
Galveston____ July 21 July 24 July
2 July 18 June 16 June 27 July 5
San Pa- San Pa- Zapata
Starr
Bee
Starr
Where
1
Camfrom) County. tricio C. tricio C. County. eron Co. County. County.
Houston ------ July 18 June 22 July
1 Aug. 7 July 20 July 1 July 6
Duval San PaM ed’na
W ebb
Where
J Duval
from) County. County. tricio C.
Countv.
Countv.
Ind . T e r .—
Ardmore_____ cAug.16 Aug. 14 r Aug. 12 Aug. 26 Aug. 17 3Aug.2S Aug. 31
Oklahoma—
Aug. 22
sAuu.24 Sept. 5
Guthrie___
Aug. 26
c A t Eufaula, Indian Territory.
e A t Natcliez.
r A t Checotah.
s. A t Shawnee.
s A t Mangum.

A b e tte r in d ic a tio n o f m a tu r ity , h o w e v e r, is fu rn ish ed b y
th e aggregate arrivals o f n ew c o tt o n to th e 1st o f S ep tem b er.
T he h ea v iest m o v e m e n t o f n ew c o tt o n th is y e a r has been
as is u su al, to G a lv eston (9 9 ,8 8 7 b a le s ), an d S avan n ah has
re ce iv e d 3,912 b a le s. T h e to ta l receip ts a t th e p oin ts in ­
clu d ed in th e su b jo in e d co m p ila tio n w ere 112,143 b a les,
again st 9 7,256 ba les in 1905, 8 9,347 ba les in 1904, on ly 1,773

bales in 1903, 116,578 bales in 1902, 53,628 bales in 1901,
27.S70 bales in 1900, 98,695 bales in 1899 and 33 ,056 bales
in 1898. The high record movement to Sept. 1 was in 1896
— 194,777 bales.
A R R I V A L S O F N E W C O T T O N T O S E P T E M B E R 1.
1900.
C h arlotte. N. C ............
W ilm in gton . X . C -----Charleston, S. C ---------C olum bia. S. C -----------A u gusta. G a — ............
Savan nah, G a -----------C olum bu s, G a _ ---------M on tgom ery, A la -----M obile, A la ..............—
Selm a, A l a ___________
E ufaula. A la __________
New Orleans. L a _____
S h revep ort, L a ............
V icksbu rg, Miss
C olum bu s. M iss---------L ittle R o c k . A r k -------M em phis, T e n n ---------G alveston, T e x a s—
-

541

THE CHRONICLE.

Se p t . 8 1906. i

1901.

1902.

3
140
i
5,400
1.680
1
826
4,787
so
.i-275
x2
(7100
46 10,281
3,389
66
5,997
19,000
50
1,649
880
3.426
724
150
1,046
189
91
366
275
2,925
1,244
512
43
8,856
4,552 9,560
284
430
121
rf50
C400
3
•>
79
6
16
18
46
259
48
S .396 42.993 56,363

1903.

1904.

1905.

_
;>
20
20
3
468
125
38
700
:r2
___ £325
142 1,165 12,766
305 17,691 24,483
32
800 2.206
29 1,456 3,975
46
496
934
840
<*50 (7400
841
37
2,000
(2400 2,083
596
■>
243
62
4
8
5
5
rfi
1
1
13
5
1
594 64,090 47.862

1906.
1
25
a 10
1,282
3,912
(7300
1,434
604
975
458
2,886
360

Prices of Cotton and Cotton Goods.
To complete the record, we subjoin compilations covering
the prices of printing cloths and raw cotton for a series of
years. The first statement shows the highest and lowest
quotations for 64 squares 28-inch printing cloths at Fall
River in each of the last twenty seasons— 1886-87 to 1905-06
inclusive. The data for earlier years will be found in pre­
vious issues of this report:
H ig h .
C ts.

1905-06
1904-05
1903-04
1902-03
1901-02
1900-01
1899-00
1898-99
1897-98
1896-97

............... ...............3.81
............ - .......... _ _ 3 .50
.............. ________4.12
________ ...............3.37
............... ________ 3.25
...............________ 3.25
............... ________ 3.50
.......... .. ________2.75
________ ________2.62
___2.62
..............

L ow .
C ts.

3.37
2.62
3.00
3.00
2.37
2.37
2.75
1.94
1.94
2.44

H ig h .
C ts.

1895-96 ................................3.06
.2 .8 8
1894-95 __________

L893 9 I __________

_3.00

L ow .
C ts.

2.44
2.50

2.61

1892-93 _________________ 4.06
3.50
1891-92 .........
1890-91 ..................
3.31
1889-90 _________________ 3.75
1888-89 _________________ 4.06
1887-88 _________________ 4.00
-3 .5 0
1 8 8 6 -S 7 __________

2.87
2.75
2.88
3.25
3.75
3.25
3.22

2
7
99,887

No special comment is called for by the foregoing. It will
be observed that printing cloths have averaged higher in
value than in 1904-05, but the cost of cotton has been greater
T ota l all ports to
Septem ber 1--------- 27.S70 53.628 11 6,57S 1,773 SO,347 97,256 112,143 the average price for middling uplands having been about
11.20 cents in the New York market, against only 9.1 3 cents
a E stim ated, no returns receiv ed ,
.r G reen w ood , S . C.
for
the preceding season.
b N ew berry, S. C.
c M eridian.
d N a tch ez.
A t the opening of the season, the raw material ruled almost
Sea Island Crop and Consumption.
as high as at the beginning of the previous crop year, the
W e have continued throughout the season of 1905-06 the initial quotation for middling uplands in the New Y ork m ar­
compilation of a weekly record of the Sea Island crop, but ket having been 10.95c. W ith a materially decreased plant­
on account of the pressure of other matters upon our columns ing, the outlook was for an appreciably smaller yield than the
have been able to publish the statement only rarely. The phenomenal crop of 1904-05, and this fact served to hold
results as now given below agree substantially, however, the market steady during most of September and near the
with our running count. It will be noticed that the crop of close the price advanced to 11.10 cents. Subsequently the
free movement of cotton to market caused an easier feeling
1905-06 shows a decided increase over that of 1904-05.
under which the quotation dropped to 9.8 5 cents O ct. 17;
F L O R ID A .
but there was an immediate recovery, based largely on crop
----------- 1905-06-------------------------1904-05
reports, and an almost steady advance to 12.60 cents Dec. 6.
R ’c 'ts at S avan n ah . & c .-b a l e s . 15,500
17,722
R eceipts at New Y o r k , & c_____ 14,878
20,151
Between that date and Jan. 18 fluctuations were frequent,
A further drop of
37,873 resulting in a net decline of 25 points.
T ota l Sea Island crop o f F lorida
30,378
90 points occurred to the 31st, and during February an added
G E O R G IA .
loss of 30 points occurred, the closing price of that m onth
57,802
R eceipts at S a v a n n a h __________ 63,715
being 11.05 cents.
Since that time various influences have
R eceipts at B runsw ick, & c ____ 24,822— 8S,537
13,146— 70,948
D ed u ct —
been at work in the m arket— acreage and crop reports from
17,722
R eceipts from F l o r i d a _________ 15,500
official and private sources— and the net result thereof on
3,530— 21,252
R eceipts from C harleston, & c__
165— 15,665
quotations has been quite im portant.
During the period
72,872
49,696
T ota l Sea Islan d crop o f G a ____
from March 1 to the end of A ugust, middling uplands ruled
S O U T H C A R O L IN A .
as high as 12.00 cents and as low as 9.8 0 cents, and the
R eceipts at C h arleston _________ 13,712
12,097
closing quotation of the season is 9.80 cents, or 125
_____ — 12,097
R eceip ts at B ea u fort. & c_____________ — 13,712
points lower than at the end of February.
For the purpose
Deduct—
R eceipts from S a v a n n a h ______________
_____
3—
3
of showing how this season’s prices compare with those for
previous years, we have prepared the following, compiled
Total Sea Island crop o f S. C
13,712
12,094
T ota l Sea Island crop o f the
from our records, which indicates at a glance the highest,
U n ited S t a t e s ________________
116,962
99,663
lowest and average price of middling uplands in New York
The distribution of the crop has been as follows:
for each season since 1876-77:
S u p p ly yea r en d in g
S e p t. 1 1906.
P o rts of —
S tock
S ep. 1

1905.

S o. C a r o lin a ..
G eorgia _____
F lorida ______
N ew Y o r k .
B oston ______
P h ila d e lp h ia ..
T ota l _____

91
2,329

N et
c ro p .

13,712
72,872
30,378

H ow
D istr ib u te d .

T otal
E o r 'g n
E x­
S tock L e a v ’ g
T otal S e p . 1 fo r D i s - G reat H a v r e , p orts.
s u p p ly . 1906. tribut'n. B r iV in
& c.

13,803
75,201
30,378

21
1,176

_ ---- --2,420 116,962 119,382

13,782
74,025 12,948
30,378
12,459
4,527
100

1,197 118,185 30,034

6,251 19,199
2,977 15,436
4,527
100
9,228 39,262

From the foregoing we see that the total growth of Sea
Island this year is 116,962 bales, and with the stock at the
beginning of the year (2,420 bales) we have the following as
the total supply and distribution:
This y ea r’s c r o p ________________________________________________ bales_116,962
S tock Septem ber 1 1905_______________________________________________
2,420
T ota l y ea r’s s u p p ly __________ _______ ________________ ___ ____ b a le s . 119,382
D istrib u ted as follow s —
E x p orted to foreign p o r ts ___________________________ b a le s . 39,262
S to ck en d o f y e a r.......................... ........................ .. _
__
1,197— 40,459
L eav in g for con su m ption In U n ited S ta tes_____ ____________ b a le s . 78,923

W e thus reach the conclusion that our spinners have taken
of Sea Island cotton this year 7 8 ,923 bales, or 16,367 bales
more than in the previous year.
The following useful table shows the crops and movement
of Sea Island for the seasons 1894-95 to 1905-06 in detail,
and the total crops since the Civil W ar.
Crop.
Season.
F lor- Georgia
ida.

Foreign Exports.

South
Caro- :T e x a s Una.
dec.

Total.

Great Conti­
Britain. nent.

Total
ex­
ports.

A m eri­
can
•>
sump­
tion. a

1905-06 h 30,378 72.872 13.712
39,202 78,923
116.962 30,034 9.228
1904-05 H 37.873 49.696 12.094
38.402 62,556
99.663 30,832 7,570
1903-04
28.005 39.345 9,359
31,320 43.578
70,709 24,188 7 132
1902-03 4 27.686 62.451 12,497
54.082 50.524
102.634 44,354 9,728
1901-02 J 21.323 48.588 8.760
31.873 43,650
78.621 25,423 6.450
1900-01. 24.793 52.953 8.369
31.988 55.422
86.115 26,453 5 535
1899-00 J 29.376 60.369 7.810
46.286 49.543
97.555 3.8,279 8.007
1898-99 -1 21.275 40.306 5.623
35.406 38.654
67,204 26,4.51 9.015
1897-98 -i 24.468 41.440 10.211
76 119 33.303 8,827
42,130 34.140
1896-97 q 25.927 64.906 11.039 1.644 103.516 47,758 10.673
58.431 40.670
1895-96. 21.664 60.522 10.010
50.063 40.530
7.672
991
93.187 42.391
1894-95- 15.176 53.716 5.913
40 741 34,981
34
5.650
74.839 35.091
----------------------------------------------------aO j
;------------------------------------------------------------------------------------------------------------------1----------T o t a l .{ 7 5 8 .0 5 5 8 9 0 ,8 8 3 3 6 9 .3 7 0

H ig h .
c.

O f w hich
E x p o r ted to —

6 .6 9 0 2 ,0 2 4 .9 9 8 9 7 1 ,9 4 5 1 5 3 .2 1 2 1 .1 2 5 .1 5 7 89

.6 14

a The column of ’ ’ American Consumption" in this table includes burnt In the
United States.

1905-0619 0 4 -0 5 ,
1 9 0 3 -0 4 .
1902-031901-021 9 00 -01.
1899 -001 8 98 -99,
1 8 97 -98,
18 9 6 -9 7 .
1 8 95 -96,
1 8 94 -95.
18 9 3 -9 4 ,
1892-93..
18 9 1 -9 2 .

12.60
11.50
17.25
13.50
9%
12
10#
6%
7 13-16
8 Vs
9%

8 3-16
8 9-16
10
8 13-16

L ow .
c.

H ig h .
c.

A vera ge.
c.

9.85
11.20
6.85
9.13
9.50
12.58
8.30
10.26
7 13-16 9 3-16
8
9 lA
6#
9%
5 5-16
6 1-16
6 3-16
5%
7 1-16
7 11-16
7 1-16
8%
5 9-16
6 7-16
7 11-16
6#
7 1-16
8 7-16
6 11-16 7M

1 8 90 -91.
1889-901 8 88 -89.
1 8 87 -88.
18 8 6 -8 7 .
1 8 85 -86.
18 8 4 -8 5 .
18 8 3 -8 4 .
18 8 2 -8 3 .
1881-821 8 80 -81.
18 7 9 -8 0 .
1 8 78 -79.
18 7 7 -7 8 .
18 7 6 -7 7 .

11
12 %
11 #
11*$
11 7-16
10#
11 ]/2
11 15-16
12 %
13 1-16
13
13 7-16
13'M
12 3-16
13 5-16

L ow .
c.

A verage

C.
7 15-16 9 %
11 5-16
10 #
10 7-16
9%
9 7-16 10 5-16
10
9 Vs
8 13-16 9 %
10
11-169#
11
10#
10#
10
12 1-16
ii m
10 7-16 1 1 #
12
1-16
10%
8 13-16 10 13-16
11 5-16
10%
11 13-16
10%

Movement of Cotton at Interior Ports.
Below we give the total receipts and shipments of cotton
at the interior ports and the stock on the first of September
of each year:

T o w

Y ea r en d in g S ep t. 1 1906.
Y ea r en d in g S e p t. 1 1905.
n s . ---------------------------------------------- ----------------------------------------------R e c e ip t s . S h i p m 't s .> S tock . R e c e ip ts . S h ip m 'ts . S to ck .

E u fau la, A l a ____ 1
23,922
23,536
M on tgom ery , Ala.
169,232
171,116
Selm a, A la _____
106,789
107,583
H elena. A r k . ___
53,084
53,311
L ittle R o c k , A r k .
176,235
181,013
A lb a n y , G a _____
29,82.3
29,597
A th en s, Ga_
91.741
90,579;
A tlan ta , G a _____
49,963
59,652
A u gu sta, G a ____
360,814
369,448
C olum bu s, G a ___
73,157
71 ,535
M acon , G a ______
68,593
69,062
R om e, G a ________
4 5 ,9 1 6 1
44,738
L ou isville, K y .f l.i
7,568
7,518
Sh reveport. L a _ .
103,902
100,701
C olum bu s, M is s ..
38,145
39,389
G reenville, M iss. 42,107
42,351
G reen w ood, M iss.
62,885
63,585
M eridian, M is s ..
74,913
82,538
N atchez, M iss___
48,224
48,861
V icksb u rg, M iss ..
70,103
70,498
Y a zoo C ity, M iss.
53,004
52,777
Si . Louis. Mo
.
551 ,701
548,976
R aleigh. N . C ____
16,707
16,809
C incinnati. O h io.
162,698
160,941
G reen w ood. S. C .
20,965
19,065
M em phis, T e n n ..
800,949
804,309
N ashville, T e n n ..
14.051
13,573
Bren ham , T ex a s.
13,787
14,328
Clarksville, Texas
12,540
12,540
D allas, T e x a s __
80,768
80,690
H on evG rove .Tex.
18,872
18,872
H ou ston . T e x a s .. 2,186,760 12.193.818
Paris, T e x a s..........
66.346
66,506
T o ta l, 33 tow ns >5.699.619 5.738.520

29,002
28,336
209,643
205,391
125,931
124,508
91,118
91,247
218,043
213,228
34,561
35,383
93,516
94,031
123,072
133,820
442,690
428,620
73,662
72,662
84,906
87-059
70,140
72,241
8,416
8,491
253,864
257,629
55,586
56,639
75,453
73,953
106,965
106,039
125,234
132,468
75,215
75,659
103,722
99,939
68,151
64,903
667,079
671 ,463
18,940
19,324
160,064
166,138
23,417
34,052
983.670
983,604
19,500
19,650
15,770
16,977
38,879
38,879
96,215
95,200
28,469
28,469
22,140 2,427.019 2,41 1,823
110,367
110,527
..........

1,235
3,963
1,409
158
13,745
1,302
2 057
1,111
8,075
3,200
2,441
1,373
125
1,839
128
156
100
514
342
983
280
13,501
351
5,195
2,765
5,670
642
1,410

849
5,847
2,203
385
8,967
1,076
895
10,800
16,709
1,638
2,910
2,551
75
4,638
1,372
400
800
8,139
979
1 ,378
507
10,776
393
9.438
865
9 ,030
164
1 ,957
78

____

29,198
160

96.276 7.089,774 7,016,857 135.177

512

THE CHRONICLE.
E xp orts.

In the follow ing we present a statem ent o f the yea r’s ex­
ports from each p ort, showing direction shipments have taken.
Similar statements have been given in all previous review s,
and a com parison as to the extent of the total m ovem en t to
each p ort can be made with back years.

To—
L iv e r p o o l .
M a nchester
H u ll
L o n d o n ____
D u b l i n ____
L e it h ............
N ew ca stle _
S o u t h ’ m ’ ton
H a v r e ____
D u n k i r k ___
M arseilles .
B r e m e n ____
H am burg
W arberg. . .
R o tte rd a m ,
A n t w e r p ___
G h en t
___
C op en h a gen
C h ristian a _
S to c k h o lm .
M a l m o ____
N o rrk o p in g
N y k o p i n g ..
G efle _____
G u tten b erg
B e r g e n ____

SaNorNew
GalWitOrleans. vesion. a vannah.d m.'fjion. 1oik . h
681.519
24,287
6 . sk i
13,272
24,755
861
270

900.279
151,847

2 43 ,62 5
0,450
300
209.597
26,182

309,731
8,697

1,634
35,831

5,479
40,588
9 039
2,922
_ _>____

8,892

534,041
59.336

_______

4.39
___
74,322
477,599
40,000
1,700
500
4 ,437
2 ,350
900
300
500
1,050
2 ,0 0 0
300
550
10,169
300

1,000
O x e lsu n d . .
A b o _______
R e v a i _____
R i g a _______
S t . P ’ b u rg .
C d d e r v a lle .
O p o r to ___
B a r c e lo n a . _
M alaga _ _ _
S a n ta n d er .
F e rr o 1 _____
P a s a g e s ___
G e n o a ____
N a p l e s ____
L e g h o r n ___
V e n i c e ____
T r i e s t e ____
P iu m e _____
P h ilip p in e s .
G u a te m a la .
M e x ic o ___
W . I n d i e s ..
C h i n a _____
J a p a n _____
I n d ia _______
B o m . C a n ..

9,291
850
750
94,183
3 ,000

12,150
1,000

200
_______
32,4 25
5,040
13,303
400
200
99,817
100
600

150
144,649

___

18.895
18,779
3,221

____

100 '
2 ,1 6 8
5

_______
_______
—

130.504

___

16,690 130.883 384,237 2 ,4 8 5,08 6
17,911 28,670 305,923
2 ,672
14,791
47,584
14,894
33,165
..........
_____
861
7 ,1 3 0
191
5,130
125
125
500
500
200
200
5,225
9 ,000 24,932 94,463 7 61 ,29 8
300
10,547
100
1,500
1,200
74,6761140,890 1,612,066
175,263
137,041
—
4,200
4,793
2,525
2 ,820
—
1,120
500
16,507
1,865
2 ,7 6 5
327
_____
_____ 13,900
8,794
98,469
9 ,939
_____
12,712
8981 --------500
200
700
200
1.502
452 --------_____
100
2 ,1 0 0
___ _
_____
400
1001 --------m
60C
10,366
197
300
1,000
400
200
_ ____
300
300 --------45,867
4,151
6,840
950
2,098
16,851
700
503
103
200
2 ,300 2 49,227
40,777
4 ,000
100
600
150
______ 114.081
8 ,775 412,71
20,764
20,764
600
600
43,2 86
7,795
______
39,299
3 ,574
1,000
1.049
18,012
_____
_____
700
700
_ | >«•_____
,5,„____
100
200
13,425
5
____
250
2,579
2,829
15,897 111,850
127,747
55
500
—
934 121.5S1
122,515

226,483 139,595
83.208

19,418
8,4 10
1 ,000

Other
Neuo
York,. ■ports. It Total.

14,709

___

. ____
13,696
5,346
6,342
_______
____ _ _ _
11,257

____ __
2 ,9 0 0
10.60C
7 ,400
_______
______

_______

_______
500

------

T o t a l____ 1,569,606 2,2 4 8,97 3 1,115,306 320,083

.....

3 4 ,3 7 2 519,418 908,593 6,7 1 6,35 1

IT E M S A BO U T B A N K S , B A N K E R S A N D T R U ST C O .’ S.

[VOL LXXX1IL

New Y ork for two years; with the Am erican W riting M achine
Com pany for tw elve years, first as Secretary and afterwards
as its President; and for the past three years has occupied
his present position with the Continental National
— Fisk & R obinson o f this city , in their m on th ly Bulletin
o f Investm ents, refer to conditions as now propitious for se­
curing the long-delayed and m uch-needed currency legisla­
tion. They say:
“ It Is fortunate that there will be forthcoming at an early day the con­
clusions of the committee appointed by the New York Chamber of Com­
merce to prepare a report on the currency question. The task Is difficult
involving as it does compromises and adjustments; but from the character
of the committee It Is safe to assume that the ground will have been gone
over thoroughly and that the recommendations made will be wise and tem­
perate. That changes in present conditions are imperatively needed Is
conceded by all. It lies with this competent committee to point out the
best available method. If, in addition to its recommendations, the com­
mittee will show clearly and strongly the injury inflicted on the people
everywhere by our anomalous currency system, and if between now and the
meeting of Congress the committee’s suggestions are given the widest pub­
licity and receive the support of our great Industrial and commercial asso­
ciations, Darticularly in the West and in the South, it is reasonable to ex­
pect that the serious attention of both the executive and legislative branches
of the Government can be secured. Neither can afford to ignore indefi­
nitely great economic questions and devote their attention largely to
matters in which moral and even hygienic issues are chiefly involved. It
is high time that currency had its turn at a ‘square deal.’ The problem
is in the public mind; it touches in one way or another the vital Interests of
every citizen; the hour is opportune; and all classes and forces should unite
in a supreme effort to remove at once from the pathway of our future de­
velopment and prosperity this wholly unnecessary stumbling block of un­
sound, unscientific currency.”

— A new banking institution, to be called the New Netherands Trust C om pany, is now being organized b y strong in ­
terests identified w ith the Bankers’ Trust C om pany, 7 W all
Street. The new institution will b e practically under the
same m anagem ent as the Bankers’ Trust C om pany b u t will
exist as an independent organization, m aking an entirely
new field for itself in the newly m ade business district in the
vicinity of Fifth A venue and 34th Street. The New N ether­
lands Trust Com pany is to b e located in handsom e offices
on the northeast corner of F ifth A venue and 36th Street
and will start business about N ovem ber. The capital stock .
$1,000,000, is to be issued at $160 per share, the prem ium
creating a surplus of $600,000. F rom the character of its
personnel, the new com pan y is likely to attract the business
of the m any im portant neighboring interests w hich are estab­
lishing themselves in the locality. The incorporators are:
Benjam in A ltm an, George B . Case, T hom as Cockran J r.,
E dm und C. Converse, President of the Bankers’ Trust Co.;
Henry P . D avison, V ice-P resident o f the First National
Bank; Thom as W . L am on t, Second V ice-P resident B ankers’
Trust Co.; Edgar L. Marston o f Blair & C o., Gates W . M cGarrah, President M echanics’ N ational Bank; George W .
Perkins of J. P. Morgan & Co.; W illiam H . P orter, President
Chemical National Bank; Seward Prosser; Daniel G. R eid ,
V ice-President L iberty N ational Bank; John F. T hom pson,
V ice-President B ankers’ Trust C o., and A lbert H . W iggin,
V ice-President o f the Chase N ational B ank. The officers
so far decided upon for the trust com pany include: E dm und
C. Converse, President; Thom as Cockran Jr. and Seward
Prosser, V ice-Presidents.

■
— The public sales of bank stocks this week aggregate
170 shares. O f this am ount 70 shares were of stock of the
N ational B ank of Commerce w hich were sold at the Stock
E xch an ge, while 100 shares were o f National Park B ank
stock sold at auction. The price paid for this b lo ck of
N ational Park Bank stock was 486 as against 4 6 4 ^ at the
last previous sale m ade in A ugust. The auction sale also
in cluded one share of stock of the United States Trust Co.
— Bertram H. Fancher, Cashier of the Fifth A venue Bank
a t 1295. The table below , given in our usual form , shows of this city , has been elected a m em ber of its board of di­
the actual sales of New Y ork City bank stocks m ade during rectors to fill the vacan cy created b y the death of Russell
the week at auction and at the Stock E xchange. E xtensive Sage.
tables showing the b id and asked quotations, deposits, sur­
— The recently organized B eaver N ational B ank, of which
plus, & c., of banks and trust com panies in all im portant
Martin W . L ittleton is to be President, will start business
cities of the United States are published m onthly in the
early this fall on the ground floor of the B eaver B uilding,
"B a n k and Q u otation ” section, the Septem ber issue o f which
corner of W all, Pearl and B eaver streets, this city. The di­
accom panies t o ’ d a y ’ s "C h ron icle.”
B id and asked q u ota ­
rectors of this new institution are: W illiam Grant B row n,
tions for all New Y ork City bank and trust com pany stocks
Donald C. Catlin, John B. Daniels, W illiam A. Griffith,
are also published weekly in another departm ent o f the
Thom as A. H . H ay, Martin W . L ittleton , T . P . W elsh ,
paper, and will be fou n d to-d a y on pages 547 and 548.
George Mercer Jr., Thom as F. M urphy, Augustus K . Sloan,
Samuel H. Vandergrift and E arl Vogel.
Shares. BANKS— New York.
Low.
High. Close. Last previous sale.
#70 Commerce, National Bank of 187 M 189 187 a
100 Park Bank, National__________ 486
486 486
TR U ST COMPANY— New York.
1 United States Trust Co________1295 1295 1295

Aug. 1906— 188
Aug. 1906— 464 M

— Augustus N ew bold M orris, a V ice-President and direc­
tor of the Plaza Bank of this city , died at Ms country hom e
Mck. 1906— 1390
at Ridgefield, C onn., on Sunday. Mr. M orris, who was born
x Sold at the Stock Exchange.
in 1838, was a lineal descendant o f Lewis Morris, one of
•— John M cCarthy, Assistant Cashier of the Continental the signers o f the Declaration of Independence. He was
B ank of Chicago, has announced his can didacy for the office identified with several clubs, was a m anager o f the H om e
o f Secretary of the Am erican Bankers’ A ssociation, su b ject for Incurables at Fordham and a director o f the Zoological
to the approval of the E xecutive Council in their choice at Society.
— The directors of the Franklin Trust C om pany of this
the St. Louis convention n ext m onth. Mr. M cCarthy has a
host of friends am ong the bankers E ast, W est and South, who city and B rooklyn at their regular m eeting on W ednesday
fa v or his nom ination; and his qualifications
of ab ility, adopted resolutions convejung expressions o f their sense of
gen iality and industry bespeak for him a strong support. loss in the death of Thom as E . Stillm an, a trustee of the com ­
H e was born in Ireland, b u t came to this country m any years pany from its early years. Mr. Stillman died at Lisieux,
ago; was in the em ploy of the H anover National Bank of ' France, on the 4th inst. in Ms seventieth year.

S e p t . 8 1906. j

THE CHRONICLE.

— A ccording to announcem ents m ade on Thursday there
appears to be every likelihood that the Real E state Trust
Com pany of Philadelphia will resume. The directors have
pledged themselves to assist the R eceiver in its rehabilita­
tion by providing the needful cash. In connection with the
suspension of the com p a n y, A dolp h Segal, to whom large
loans were made b y it, W illiam F . N orth,
Treas­
urer of the institution, and Marshall S. C ollingw ood,
Assistant Treasurer, were at a prelim inary
hearing
this week held
under bail
for
the
Grand Jury.
In addition to alleged charges of conspiracy to defraud the
institution, the accused are also, it is stated, charged with
embezzlement and p erju ry. The announcem ent was made
on Tuesday b y R eceiver George H . Earle Jr. that Mr. Segal
had turned over to him , as additional collateral for loans
made by the trust co m p a n y , his equity in the Shackam axon
Street Sugar R efinery. It was also announced that the loan
negotiated by the A rlingbrook R eal E state C om pany,
am ounting to §250,000, had been paid.

543

chosen to succeed N. E . Barker, resigned, as V ice-P resident
o f that institution. Mr. R obertson will also take Mr.
B arker’s place in the board o f directors.
— J. A . M cL eod, for the past year Manager of the H avan a,
Cuba, branch of the Bank of N ova S cotia, and prior to that
Manager of the B oston b ran ch, has been appointed Manager
of the Chicago branch to succeed A lex. R obertson , w ho
assumes his duties as V ice-President of the C ontinental
National Bank of Chicago on M onday next.
— The stockholders of the H olston National B ank o f
K n oxville, T enn ., endorsed a proposition on A ug. 14 to in ­
crease the ba n k ’ s capital from $200,000 to §300,000. The
new shares are to be paid for on Jan. 15 1907 at a price equal
to the b o o k value of the old shares, w hich, we are ad vised,
will be approxim ately §130 each. The stock is in shares of
§100. Joseph P. Gaut is President of the institution.

Clearings b y T elegrap h .— Sales of S tock s, B onds, & c .—
— A proposition to increase the capital of the Dim e Sav­
The subjoined table, coverin g clearings for the current w eek,
ings Bank of D etroit from §250.000 to §500,000 was ratified
usually appears on the first page of each issue, b u t on accou nt
b y the stockholders on T uesday. On the recom m endation
of the length of the other tables is crow ded ou t once a m on th .
o f the directors the question of a proposed change in the name
o f the institution was not taken up at this w eek’s meeting of The figures are received b y telegraph from the leading cities.
It will be observed that as com pared with the corresponding
the shareholders.
week of 1904, there is an increase in the aggregate of 2 1 .7 % .
— The N orthern Trust Com pany of Chicago took advantage So far as the individual cities are concerned, New Y ork ex ­
o f a Saturday half-holiday, Sunday and Labor D ay (M onday) hibits a gain of 2 8 .2 % , B oston 7 .6 % , Philadelphia 1 5 .7 % ,
to rem ove from “ The R o o k e r y ,” to its own new monum ental Chicago 1 1 .9 % , B altim ore 6 .1 % , St. Louis 1 1 .0 % and
building on the northwest corner of La Salle and Monroe New Orleans 6 .9 % .
streets, and was ready for business in every departm ent on
Tuesday m orning. This location is at the intersection of
Clearings—Returns by Telegraph.
Per
Week ending Sept. 81906.
Cent.
1905.
C hicago’s two principal financial avenues, really the business
_____
SI,457,043,939
SI,136,196,455
+ 28.2
heart of the city . The Northern Trust Com pany was organ­ Xew York
Boston.................................. __ . _ _
103.940-787
96,566.239
+ 7.6
ized in 1SS9 b y B yron L . Sm ith, its present President, with Philadelphia _______ _ ______ _____
101,985,456
88,157,043
+ 15.7
Baltimore___________________________
20,097,907
18,940,606
+ 6.1
a capital stock of S I,000,000. Its capital has since been Chicago_______________ ___________
143,211,454
160,199,398
+ 11.9
Louis___________________________
47,572.280
42,S50,653
+ 11.0
increased to 81,500,000, and the last published statement St.
New Orleans...... ............... _.................
10,711.235
10.018,182
+ 6.9
(June 9th) shows a surplus o f S I ,000,000, undivided profits
Seven cities, 5 days___ _____
31,901,551,002
SI,535,940,632
+ 23.8
_ _ _
299,587,693
278.471,619
+ 7.6
o f §527,544, deposits of §27,500,000 and total resources of Other cities, 5 d ay s__ __ _
Total all cities, 5 days______ . _____ $2,201,138,695
more than §31.000,000. The new bank building occupies
SI,814,412.251
+ 21.3
All cities, 1 day_ _ _ _________________
530,108.971
429.576,869
+ 23.4
a frontage of one-half a city block (190 feet) on La Salle
Total all cities tor week____________ S2,731,247.666
82,243,989,120
+ 21.7
Street and 73 feet on M onroe Street. It is 4 stories high,
with basem ent and sub-basem ent. The exterior is of pink
Canadian Bank C learings.— The Clearings of the Canadian
New Hampshire granite of beautiful and substantial archi­
tectural design, with massive Ion ic granite colum ns 40 feet banks for the m onth o f Septem ber 1906 show an increase
in height , extending along b o th fronts from the first floor to over the same m onth o f 1905 o f 1 6 .1 % , and for the nine
cornice. H eavy, elaborate steel grills p rotect the window s months the gain reaches 1 8 .0 % .
on the street level. The savings and b on d departm ents (the
latter just established with H arry B. Judson as m anager) are
on the first floor, a room 132 feet long b y 68 feet wide and
16 feet high, leaving outside the rails a space 100x3 f eet
for the public. There are also w om en’ s visiting and mriring room s on this floor. The banking and foreign exchange
departments occu p y the entire second floor, the ceiling of
which is 26 feet high in the clear. On the third floor are the
trust departm ent, the room s of the President, directors,
Trust Officers, bank attorneys and the law library. The
Chicago Clearing-House Association has spacious accom m oda­
tions on the fourth floor, besides w hich are locker room s, rest
room s, shower baths, toilet room s, & e., for the em ployees o f
the com pan y. All of the bank vaults and safe deposit vaults
are in the basem ent, which is connected with the several
floors b y autom atic elevators. These vaults are o f the best
and m ost modern ty p e of construction. No know n safe­
guard has been disregarded and no expense spared to make
them the very best possible. The sub-basem ent is devoted
to storage room s, m otors, m achinery, boilers, &c. E very
portion o f the Northern Trust Building is elegantly and taste­
fully finished; each departm ent has com m odious and co n ­
venient facilities. The institution has tried and conservative
officers and a strong directorate, and, with such perfect
equipm ent, there are present all the elements needful to in­
sure continued prosperity.
I h e directors of the Northern Trust Com pany of Chicago
this week elected to their b oard Ernest A. H am ill, President
o f the Corn Exchange National Bank of Chicago. Mr.
Hamill succeeds J. Harley B radley, resigned.
— A t a directors’ meeting of the Continental Nationa
Bank o f Chicago on T uesday, Alexander R ob ertson , Manager
of the Chicago branch o f the Bank o f N ova S cotia, was

September.
Clearings at—
1906.

1905.

Nine Months.
Inc. or
Dec.

Canada—
S
S
%
Montreal _____ 124,783,775 108,835.265 + 14.6
Toronto ........ 90,415.800 80,544,330 + 12.1
Winnipeg
38,778,304 30,303,842 + 28.0
Ottawa.......... 11,772,499 10,052,110 + 17.1
Vancouver___ 12,048,239
7,951,737 + 51.6
Quebec............
7.619,661
7,529,648 + 1.2
Halifax_____
7,924,680
7,423,623 + 6.7
Hamilton____
6,345,809
5,556,492 + 14.2
St. J o h n ..__
5,549,958
4,722,971 + 17.5
London ........
4,320,109 + S.6
4.692,366
Victoria ____
3,791,456
2,933,511 + 28.9
Calgary___
4.342.225 /Not incl.j
Edmonton___
3.102,514 t in total. 1

1906.

Inc. or
Dee.

1905.

S
S
984,526,917 849,102.150
769,935,850 60S,172,518
284,879,809 202,409,733
76,213,332
84,839,685
53,708,539
77,319,839
59,107,993
56,187,130
60,192,777
57,525,005
42,708,999
48,932,954
38,714,160
.33,827,633
32,559,071
37.696.327
27,505,855
23,875,449
15.741.200 /Not. Incl'edl
3.102,514 \ in total. /

Total Canada 313,722,547 270,173,638 + 16-1 2,473,652.160 2,096,2S9,559

%
+ 15-9
+ 15.2
+ 40.7
+ 11.3
+ 44.0
+ 5.2
+ 4.6
+ 14.6
+ 14.4
+ 158
+ 15.2
.........
+

1 S .6

The clearings for the week ending Sept. 1 m ake a very
satisfactory com parison with the same week of 1905, the in­
crease in the aggregate having been 1 1 .0 % .
Week ending September 1.

Clearings at
1906.
C anada—

Montreal _________
Toronto................
Winnipeg................
Ottawa...... ...........
\ ancouver . _
__
Quebec............
Halifax....................
Hamilton............
St.John__________
London.... .............
Victoria...................
( ulgary ................
Edmonton ..........
Total Canada___

1905.

Inc. or
Dec.

S
S
%
20,322,287
22,305,307 + 18.0
15,072,554
17,592,412 — 14.3
8,204,575
5,381,406 +52.5
2,185,6.37
2,003,507
+ 9.1
2,521.781
1.768,233 + 42.6
1.665.212
1,518,425
+ 0.7
1,610.000
1,591,063
+ 1.2
1,283,981
1,157,240 + 10.9
1.142,198
916,707 + 24.7
891,909
789,283 + 130
757,318 +32.4
1,003,342
890,649 Not included In total.
719,644 Not Included In total.
61,903.476

55,781,501

+ 11.0

1904.

1903. *

S
IS.726,527
13,310.873
4.728.773
1.563,172
1,529.016
1.410,266
2,015.468
1,097,035
1,032,104
882,405
631.709

S
-1
19.012.74S
14.338,841
4.020.493
1,903,991
1,342,373
1,053,271
1,798.320
1.083,506
1.101,171
818,026
493,596

46,927.428

47,566.034

Our usual m onthly detailed statem ent o f transactions o*
the various New Y ork E xchanges is appended. The re­
sults for the eight m onths of 1906 and 1905 arc given below :

THE CHRONICLE.

544
Eight months 1906.

Eight Months 1905.

D IV ID E N D S .

Descripl’n
Par Value \
or Quantity. (

Aver. Par Value
Pr icti or Quantity.

Actual
Value.

Actual
Value.

i Aver,

\Price.

S t’k\Sh’ 8-i
171,042,359
196,528,4281
r V a n 817453,800,000 810140,630,836 92.5 815848,218,475$13718,130,882 86.6
430,985,300
R R . bonds.
417,796,835, 90.9 8595.405,300 8565,833,6201 95.0
8395,400
$428,035108.3
G o v 't bds.i
81,533,784108.81
81,410,000
853,172,050!
State bds848,452,277 91.1 $135,277,450, $125,852,217; 93.0
$724,268198.7
B k. stocksl
$536,000
81,403,8821261.9
8364.400
T otal _ _ 817939,732,350 816609,137,070 92.6 816579,832,625 S14411,048,63(1 86.9
Grain, bu.
331,512,075i
321,368,820 96.9c
305,154,450
253,659,030,83. lc
T ot. val.

[$14733,017,456;

,816802,797,000

[V O L . LXXXIIT

W e have changed the method of making up our weekly
list of dividends. Heretofore our record has included only
the dividends announced each week, but for the convenience
of our readers we now enlarge the scope of the compilation
so as to show also dividends previously declared, but the
date of payment of which has not yet arrived. In the new
form the statement indicates all the dividends announced
for the future by all large or important corporations.

1

The volume of transactions in share properties on the New
York Stock Exchange each month since Jan. 1 in 1906 and
1905 is indicated in the following:
SALES OF STOCKS A T T H E N E W Y O R K STO C K E X C H A N G E .
1905.

1906.

M ’ th.

Number
of
Shares.

Number
of
Shares.

Values.
Par.

Actual.

Values.
Par.

Actual.

S
%
S
8
Jan _ 38,512,548:3,513,808,700 3,333,481,498120,792,558 1,931,154,4001,374,870,487
Feb . 21,699,800 1,968,990,600 1,831,598,764125,239,088 2,323,637,8502,014,562,018
M ch. 19,467,684 1,729,841,900 1,591,417,29029,138,838 2,708,955,975 2,178,193,156
ls t q r 79,680,032
A pr _ 24,330,919
May 24,026,049
June 20,340,391

7,212,641,200
2,158,016,950
2,043,050,800
1,744,464,300

6,756,497,552
1,928,749,870
1,879,476,284
1,563,947,686

75,170,484
29,298,456
20,517,560
12,576,469

6,963/748,2255,567,625,661
2,789,542,65012,670,498,467
1,911,014,5501,758,624,018
1,132,492,100 999,484,627

2d qr 68,697,359 5,945,532,050 5,372,173,840 62,392,485 5,883,049,3005,428,607,112
6 m ’s 148377 391 13158,173,250 12128,671,3921137562 969 12796,797,525T0996,232,773
July 116,346,221 1,448,273,600 1,310,479,816;13,273,655 1,214,488,750:1,075,487,631
Aug_ 31,804,816 2,847,353,750 2,701,479,628)20,205,735 1,836,932,200 1,646,410,478

The following compilation covers the clearings by months
since January 1:
M O N T H L Y C L E A R IN G S .

Clearings Outside New York.

Clearings, Total A ll.
Month

1906.

1905.

%

$
$
Jan __ 16,321,500,279 11,848,355,885 + 37.8
Feb __ 12,462,794,035 10,650,663,817 + 17.0
Mch . - 12,993,090,785 12,918,414,969 + 0.6
1st qr_
A pril _
May _
June _

41,777,385,099
12,884,433,514
13,218,402,167
12,230,933,388

1906.

1905.

$
5,083,299,601
4.138,370,511
4,615,856,596

%

S
4,113,631.330 + 23.6
3,532,344,555 + 17-2
4,1S7,006,472 + 10.2

35,417.434,671 + 18.0 13,837,526,708 11,832,982,357 + 16.9
12,735,232,015 + 1.2 4,341,197,947 4.054,435,555 + 7.1
12,059,910,393 + 9.6 4,425,373,088 4,175,862,976 + 6.0
10,815,069,816 + 13.1 4,414,712,521 4,079,759,697 + 8.2

2d q r. 38,333,769,069 35,610,212,224

+ 7.6 13,181,283,556 12,310,058,228

+ 7.1

6 mos_ 80,111.154,168 71,521,646,895 + 12.8 27,018,810,264 24,143,040,585 + 11.9
Ju ly _ 11,639,986,823 10,866,702,211 + 7.1 4,3S3,460,720 4 027,669 659 + 8.8
A ug __ 13.131,717.908 10,902,728,326 + 20.4 4,298.516,812 3,921,963.406 + 9 -6

IP^oix.ctarij!

mmextixl^uglisU^sms

English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at London
as reported by cable have been as follows the past week:
London.
Week ending Sept. 7.

Sal.

Mon.

Tues.

Wed.

Thurs.

Fri.

S ilver, per o z __
____
d 30 15-16 31%
31 3-16 31%
31%
31 7-16
Consols,new, 2)4 per cents. _ 87 7-16 87%
86%
86%
86%
86 3-16
F or accou nt, __
87 11-16 S7%
87 1-16 86 1.5-16 86 11-16 86%
French Rentes (in. P ar.)__fr _ 98.17% 98.15
98.07% 97.95
97.75
97.67 VA
_
b A naconda Mining Co _ _
14%
14%
14%
14%
14% •
Atchison Topeka & Santa Fe 110
noU
112%
112%
111%
111%
Preferred __ ___
_ _ .104%
____
104%
104
104
104%
■
B altim ore & Ohio _
____
-121%
126%
126%
125%
123%
_____
_ _ 96
Preferred
96
96
96
96
Canadian Pacific_____ _____ .179%
183
182
183%
184
182)4
Chesapeake & Ohio__
67
67%
66%
66%
6 6 K Ln
Chicago Great W estern____
18%
—'-L-~ ■■
18%
18%
18%
18% •
Chicago M ilw. & St. Paul__ .183
189
188
386%
1ST
187% D enver & R io Grande corn. 45
45%
44%
45
45%
Preferred _____
89
89
89
89
89
E rie, com m on. _ _ __
48%
48%
48%
48%
48%
•
47)4
First preferred _____ __
81
81
soy
81
SOM
80%
_ _
Second preferred.
__ __ 74
74%
73%
74%
74%
■
Illinois C en tral.________
180%
180
181
179%
180
180
Louisville & N ashville______ 153 %
155
155
153%
154
154
____
M exican C e n t r a l-____ __
22
21%
21)4
21%
21%
M o. Kansas & T e x ., co m ____ 37%
___
37%
37
36%
37%
____
Preferred
73
73%
73%
73%
73%
_
National R R . of M exico____ 47
47
48%
48%
48%
N. Y . Cent. & H u d . R iv e r . _ 148%
151%
151
149
149
149%
N . Y . Ontario & W e s te rn -.. 51%
52%
52%
52%
52%
____
N orfolk A W estern, com m on 96%
. 97
07%
97%
97%
Preferred _ _ _ _
95
95
95
95
95
____
Northern P acific. _
222
224
222
222%
224%
Pennsylvania _ _ _
73%
74
74%
74
74%
74
a Reading C o ______
70%
72%
72%
71)4
73
74%
a First preferred .
47
47
47
47
47
a Second preferred _
48
48
48
48
48
R ock Island Co___. _
28
29
28%
28%
29
Southern P acific. _ _
93 %
96%
96
94%
95
95%
Southern R v ., com m on__
39%
40%
40%
39%
39%
30%
Preferred _________ __
____
103
103
102%
102%
102%
U nion Pacific, common
197%
201%
201%
197%
201%
200%
Preferred
___ .
98
98
98
98
97%
U. S. Steel Corp., c o m m o n ._ 47%
48 %
48%
47%
48%
49%
Preferred __ ___________ 110%
H IM
110%
111%
111%
111%
Wabash _____ ___________
____
20%
21
21
21
21
P r e fe r r e d ______
_ __ 46
____
46%
46%
46
46%
Debenture B 's _________
83
—
83
S3
S3
S3

a Price per share,

b ^Sterling.

Cmmncrctal mul JKtsceUmmnis micros
Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H . Muller & Son:
Stocks.

Bonds.

50 A c k e r , M errall & C o n d it C o.
§ 2 0 ,0 0 0 A c k e r , M errall & C o n d it
14
c o m _______________________
C o . 6 s, 19 2 3 , J & J ______________
93
50 F o r d h a m C lub B ld g . & L o a n
$ 3 ,0 0 0 D e u tsch e r V e r e in 1st 5s__
55
A ssn , c o m ., §10 e a c h _____§100 $750 D e u ts c h e r V e re in r e d e e m ­
20 M e tro p o lita n S u r e ty C o _____145
a b le s c r ip _______________________ $70
1 00 N a tio n a l P a rk B a n k __________ 486 $ 1 ,0 0 0 A r io n S o c ie ty 2d 3 s _____ $315
1 U . vS. T ru st C o _______________ 1295
5 H o m e In s. C o ________________ 495 1

Name of Company.
Railroads (Steam).
Atlantic Coast Line o f Conn, (q u a r.)____
B oston & Albany (q u a r.)_______________
Boston & Maine, com m on (N o. 164)____
Buffalo & Susquehanna, com m on (quar.)
Canadian Pacific, com m on_____________
Preferred_____ _______ _____ _______
Chicago & Eastern Illinois, pref. (qu ar.).
Chicago Great W estern R y ., pref. “ A ” __
Chicago Milw. & St. Paul, com . & pref__
Colorado & Southern, first preferred____
Delaware & Hudson Co. (q u a r.)_________
Erie, second p re fe rred _____ ___________
Evansville & Terre H aute, com m on____
Preferred. _________
__ . _____
Interborough-Metropol itan Co. ,p f. (quar.)
Interborough R apid Transit (q u a r.)____
N. Y . Lack. & W estern, guar, (q u a r.)___
New Y ork New H aven & H artf. (quar.)_
___ ____
Reading, first preferred. _
St. Joseph South Bend & Southern,com .
Preferred
_ _ _ ________________
St. Louis & San Francisco—
First preferred (q u ar.)______
_____
Chic. & E . 111. pref. stock cert, (quar.)
Kan. C. Ft.S.& M., pref. stk.cer.(quar.)
Southern, p r e fe r r e d ____
____________
Southern Pacific, com m on___ _______
Union Pacific, com m on___
__________
Preferred__
._
___
_ ___
W est Jersey & Seashore_____
___
Street Railways.
American R y s ., Philadelphia (qu ar.)___
Boston Subur. Elec. Cos., pref. (q u a r .)..
Cape B reton E lectric Co., L td ., Dref____
Houghton Co S t.R y .,H an cock ,M ich .,p f_
New Orleans R y . & Light, pref. (quar.)_
Philadelphia Traction
Savannah Electric C o ., preferred _ __
Seattle Electric Co., preferred__________
South Side Elevated (Chicago) (quar.)__
United Trac. <fe E lec., Providence (quar.)
Banks.
Fifth Avenue (quar.) _ ____
_____
Trust Companies.
Fifth Avenue (quar.) _____________ __ _
Miscellaneous.
Amer. Beet Sugar, pref. (quar.) (No. 19)
American Can, pref. (quar.) ._
_ _
Amer. Car & F d y ., pref. (auar.) (N o. 30)
American Chicle, com m on (m on th ly)___
Common (extra)____ __________ _____
____
___
American Express
American Graphophone, comm on (quar.)
American Radiator, com m on (qu ar.)___
Amer. Smelt. & R e f., com . (qu.) (N o .12)
Preferred (quar.) (N o. 29) _ ______
American Snuff, com m on (quar.)_
. _
Preferred ( q u a r . ) __ __
American Sugar Refining, com . (q u a r.).
Preferred (q u a r.). _ __ .
_____ __
American T obacco, preferred (q u a r.)___
Barney & Smith Car, com m on. ____
Borden’s Condensed Milk, pref. (quar.)_
Butte Coalition M ining.
..
__
Butte Elec.& Power,com .(quar.) (N o .10)
Calumet & Hecla Mining ( q u a r . ) . . ____
Cambria Iron, guaranteed
_
____
Central Leather, preferred (qu ar.)____
Chic.J u nc.R y s . & U .S tk .Y d s., com . (quar)
Preferred (qu ar.)__
_____ __ __
Childs Co., com m on (quar.) __________
Preferred (q u a r.).
_ _
Cleveland <fc Sandusky B rew ., com. (qu.)
Preferred (quar.) .
__
Consolidated Gas, N. Y . fo u a r.)_______
Diamond Match (q u ar.).
_ _
du P ont de Nemours (E l)P w d .com .(qu .)
du Pont Int. Powder, preferred (quar.)._
Eastman K odak, com m on (qu ar.).
_
_ _
Preferred ( q u a r .) ____
Federal Mining & Smelting, com . (quar.)
Common (extra).
_ _ __________
Preferred (quar.)
_. —
_ _
General Chemical, preferred (q u a r.)___
General Electric (quar.)___
._ _ _
Greene Cons. Copper (bi-m ’ thly) (No. 19)
Guggenheim Exploration (quar.) (N o.15)
International Paper, preferred (quar.)__
International Silver, pref. ( q u a r . ) __ __
Inter. Smokeless Powder & Chem, com .
. . .
--------- ------Preferred__
Laclede Gas Light, com m on (qu ar.)____
Mackay Companies, com m on (qu ar.)___
Preferred (q u a r.)__
_ _ _.
Massachusetts Lighting (q u a r.)______
Milwaukee & Chicago Breweries. _
___
National Biscuit, comm on (quar.) _ __
Nat. Enam. & Stamping, pref. (q u a r .)..
National Lead, com m on (quar.) (N o. 11)
Preferred (quar.) (No. 5 9 )------ --- ------Niles-Bement-Pond, comm on _ _ . .
Quaker Oats, comm on (qu ar.)____
___
Common (extra). . . .
_ ____
Railway Steel Spring, preferred (qu ar.).
Republic Iron & Steel, preferred (quar.) _
Preferred (extra) _
____
__
R ubber Goods M fg.,pref. (quar.) (N o.30)
Safety Car Heating & Light, (qu ar.)____
______
. . .
Extra _ _
Sears, R oebuck & Co., pref. (quar.)__ _
Standard Oil (q u a r.).
. .
_ —
Swift & Co. (q u a r .) __ __
_____
United States Leather, preferred (quar.)
United States R ed. & R ef., pref. (quar.)
United States Steel Corp., com m on-----Westinghouse Air Brake (qu ar.)_______
|£Extra _____
____
..
_____ .
Special
__ __ ________________

Per
Cent.

When
Payable.

Books Closed.
Days Inclusive.

2%
2
1%
1%
3
2
1%
2%
3%
2
1%

Sept. 10 Aug. 31
to
Sept. 29 Holders of rec.
Oct.
1 Holders of rec.
Oct.
1
Oct,
1 Sept. 2
to
Oct.
to
1 Sept. 2
Oct.
1 Sept. 20
to
Oct.
to
1 Sept. 11
Oct.
16 Holders of rec.
Oct
1 Sept. 16
to
Sept. 15 Holders of rec.
2b
Oct.
0 Sept. 12
to
4
N ov.
to
1 Sept. 16
2% w Oct.
to
15 Sept. 16
1% Oct.
to
i Sept, 11
2% Oct,
1 Sept. IS
to
1% Oct.
to
1 Sept. 16
2
iSept. 30 Holders of rec.
2
Sept. 10 Holders of rec.
1
Sept. 15 Sept, l i
to
2 % Sept. 15 Sept. 11
to
1
1%
1

2%
2%
5
2
3

Sept. 9
Sept. 1
Aug. 31
O ct.
Oct.
Sept.
Oct.
Aug.
Oct.
Aug.
Oct.
Oct.
Oct.
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Sept.

3
3
23
1
29
1
25
9
15
15
30
30
30
15
24
16
16

Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Sept.

to
1 Sept. 16
1 Holders o f rec.
1 Holders o f rec.
17 Sept. 23
to
1
to
1 Sept. 16
to
1 Sept. 16
15 Holders of rec.

Oct, 9
Oct. 9
Sept. 6

Sept.
Oct.
Nov.
Oct,

to
15 Aug. 31
15 Holders of rec.
1 Oct. 17
to
1 Sept. 15
to
1
to
15 Oct,
1 Holders of rec.
to
1 Sept. 10
to
1 Sept. 7
to
29 Sept. 19
to
1 Sept. 12

Sept.
Sept.
N ov.
Oct.
Oct.
S ep t.
Oct,
O ct.
Sept.
Oct.

Oct.
1
Aug. 18
Aug. 18
Oct. 17

1%
75c.
$3
3
1%
$2
3
3
1
1%

Oct.
;Oct.
|Oct.
jSept,
Oct.

25

iOct.

1 Sept. 23

3

Oct.

1 Holders of rec. Sept. 29

134
1%
1%
1
1
3
1%
1
1%
1%
2%
1%
1%
1%
1%
1
1%
40c.
1
$20
2
1%
2
1%
1
1%
1
1%
1 ~

Oct,

Oct.
Oct.
Oct,
Sept.
Sept.
Oct,
Sept.
Sept,
Oct,
|Oct.
Oct,
Oct,
Oct.
|Oct,
Oct,
Sept.
Sept.
Sept,
Sept.
Sept.
|Oct.
Oct,
G e t.
Oct,
Sept.
Sept,
Sept,
Sept.
Sept,
2H Sept.
1% Sept,
2 % c Oct,
2 % Oct,
1% Oct.
1 %
Sept.
2% [Sept.
1% Sept.
1% Oct,
2
Oct.
4
Sept.
1% ? Oct,
1% Oct,
1
Oct,
1.6c Oct,
4
:Nov.
1% Sept.
1
Oct.
1
O ct.‘
1% Oct,
2 % A* Sept.
1
Oct,
1% Oct.
1
Oct.
1% Sept.
1)4 d Sept,
1% [Oct.
% Oct.
1% !Sept,
1% Oct.
2e
Oct.
1% Sept,
2
Oct,
2
Oct.
1% ;Oct.
86
Sept.
1% 'Oct.
1% Oct,
1% Oct,
1h
Oct.
2% |Oct.
2% Oct.
2 % Oct,
1

to

1 Holders of rec.
to
1 Sept. 16
to
1 Sept, 12
20 Sept. 15
to
20 SeDt. 15
to
1 Holders^ of rec.
15 Holders of rec.
29 Sept. 23
to
to
15 Sept. 29
to
1 Sept. 15
to
1 Sem . 16
1 Sept. 16
to
2 Sept. 2
to
o Sept. 2
to
to
1 Sept. 16
to
15 Sept. 6
Sept.
6
to
15
to
17 Aug. 15
15 Holders of rec.
20 Holders of rec.
1 Holders of rec.
1 Holders of rec.
to
1 Sept, 13
to
1 Sept. 13
10 Sept. 5
to
10 Sept, 5
to
to
16 Sept. 6
to
16 Sept, 6
to
15 Aug. 25
15 Holders of rec.
15
2 Holders of rec.
to
1 Aug. 31
to
1 Aug. 31
to
15 Sept, 1
to
15 Sept. 1
to
15 Sept. 1
to
1 Sept. 22
15 Holders of rec.
to
15 Aug. 26
to
1 Sept. 15
to
1 Sept. 14
to
1 Sept, IS
1 Holders of rec.
15 Holders of rec.
to
15 Sept, 9
to
1 Sept, 17
to
1 Sept. 17
15 Holders o f rec.
to
15 Sept. 9
to
15 Sept, 29
to
1 Sept. 11
to
1 Sept. 16
to
15 Aug. 25
to
20 Sept. 13
15 Holders of rec.
15 Holders of rec.
to
20 Sept, 9
to
1 Sept, IS
to
1 Sept, 18
15 Holders of rec.
to
1 Sept, 16
to
1 Sent. 16
to
1 Sept, 18
15 Holders of rec.
to
1 Sept, 16
1 Holders of rec.
to
1 Sept. 21
to
1 Sept. 9
to
10 Sept, 22
to
10 Sept. 22
to
10 Sept. 22

9
15
1
1
14
8
1
1
30
1

Sept. 30

Sept: 22
Oct.
1
Oct.
1
Sept. 20
Sept. 20
Sept, 15
Sept, la
Sept. 30
Oct. 15
Oct.
1
Oct.
1
Oct.
1
Oct. 2
Oct, 2
O ct.
1
Sept. 16
Sept, 16
Sept. 3
S ept125
A ug. 18
Sept. 15
Sept. 10
Oct.
1
Oct.
1
Sept. 10
Sept. 10
Sept. 16
Aug. 31
Sept. 2
Sept. 16
Sept. 16
Sept. 9
Sept, 9
Sept, 9
O ct. 1
Sept15a
Sept, 16
Oct.
1
Sept. 25
Oct. 1
Sept. 20
Oct. 31
Sept, 16
Sept, 29
Sept, 29
Oct.
1
Sept. 16
Oct. 15
Oct,
1
Oct.
1
Sept. 16
Sept, 20
Oct, 5 a
Oct, 5a
Sept. 20
Oct. 17
Oct, 17
Sept. 8
Sept, 30
Sept. 30
Sept. 30
Aug. 20
Oct.
1
Sept. 10
Oct,
1
Oct,
1
Oct, 10
O ct. 10
Oct. 10

a Transfer books not closed. & Also 2 % , payable April 9 1907. c Includes
extra paym ents on account of dividends passed last spring- d Also 1 % % payable
D ec. 20. e On account of deferred dividend, h One-half per cent for quarter
ending March 31 1906 and % % for quarter ending June 30.
k Less income tax.
£ Upon the full-paid capital stock.
m Also 2 % % declared payable April 15 1907-

S e p t . S 1900,

Statement of New York City Clearing-House Banks.
The following statement shows the condition of the New
York City Clearing-House banks for the week ending Sept. 1.
It should be distinctly understood that as to all items
except capital and surplus the figures are the averages
of the daily results, not the totals at the end of the week.
In other words, in reporting loans and deposits and holdings
of specie and legal tenders, the practice is to take the aggre­
gate of the amounts for the several days of the week and
divide this aggregate by the number of days.
W e o m it tico c ip h e r s

B a n k s.

S u r p lu s .

C a p ita l.

(00)

in till cases.

L oa n s.

S p e c ie .

L eg a ls.

D e p o sits,

00$ o m itted .

a R e­
serve

j

545

T H E C H R O N IC L E

s
S
S
S
s
%
2.877,3'
16 932,0
2,468.0 1.706,0
15.076.0 27.6
2 742.s
21,227.0
4.309,0 2.238.0
24.000,0 27.2
2,380,4 1.016,3
1.504.6
11.397,5
13,525,3 25.1
2,785,0 1,910,0
3.465,0
19.957,0
19.140.0 24.5
3,905.7
22,308,8
3.410,6 2,343,4
23,503.4 24.4
6.359.0
1,109,0
170.0
328,4
5,268,0 24.2
19.400,3 160.876.1 25,519.4 11,561.1 147,254.4 25.1
7-748.5
23.857,5
3,945.3 1,899.0
22,219.5 26.3
439.2
6.067.3
1.258.4
337,7
6,437,5 24.7
2,307.0
8,515,1
966,3
644,5
6,303,5 25-5
156 1
2.505,5
516.2
47,6
2,439,4 23.1
892,0
388,3
6.499,0
875,0
7.208,0 24.5
634.6
5,168,2
885,8
489.2
5,865 8 23.4
27,542,1
4.548.3
4.383,9 1,185,6
20.75S.1 26.8
13.008,4 136.680.7 16,099.7 12,417.7 113.493.7 25.1
20,736.7
4.628,4
2,918,4 1.323,7
17.280.5 24.5
759.2
3.318.0
420.4
243,3
3,380,6 19.6
1,030.0
5,659,6
705,5
862,1
5,696,0 27.5
216.2
459.1
2,127.9
581,5
2,589,0 30.7
2.041.2
13,976.0
2,056,0 1,253,0
13,317,8 24-S
7 622.4
51,383,0
8,083,3 6,690,3
59,059,8 25.0
1.133,9
7,616.0
1,476.6
365,9
7.290,0 25.2
18.384,3
3.551,4 1.117,9
789,5
18,193,7 25.6
345.2
3,450,8
331,1
365,7
3,678,6 IS .9
7.444,6
1.45S.9
1.106,9
674,5
7,013,8 25.3
10,333.4
2,374,4
232,6
718,0
10,638,7 24.5
3,583.7
35,989,0
6,862,0 4,346,0
44,127,0 25.3
9,547.1
1.158.9
1,115.7
431.0
8,781.0 17.6
7.00S.9
4,109,0 1.362,0
23.985 0
21,104,0 25.9
4.164 ,S 69,850,0 17,557,0 3.761,0 80,252,0 26.5
119,0
1,190,0
182.2
134,5
1,302,2 24.3
18,682,3
3,063,4
3,189,8 2,157,5
20,558,6 26.0
1,673,1
9.793,0
910.0 l .535.0
9,694,0 25.2
17.277,1
86.905,9 17.451,2 2,060,4
73,838,7 26.4
9.331.6
900,1
1,910.6
382,2
9,115,8 25.1
780.3
3,675,0
550,0
222,0
4,075,0 18.9
842,2
5.218,6
851 4
425,7
5,462,5 23.3
4,045,2
569 ,S
933,3
203,7
4,147,8 27.4
50,506,4 12,535,5 1,761.0
5,731,6
57,080,5 25.0
1,790.0
9.638,8
2.38S.2
579.6
10,940,7 27.1
792,3
3.471.9
200,0
650,0
4,011,9 21.1
916.0
4,639 7
504.8
6S8,7
5,489,4 21.7
12,811,0
1,565,8
847,0 2,843,7
13,997.3 26-3
1.344.9
7,538,0
1,738,7
299.5
7,735,7 26.3
2.952 0
457,6
585,3
199:9
3,018,6 26.0
9,737,3
1,206,3
472.1
1,625.5
8,842,8 18.9
807,6
4.365,0
627,0
549,0
4,651.0 25.3
1.170,6
14,156.0
2,590,0 1.696,0
16,196,0 26.4
680.3
4.810,0
680,0
553,0
5,036,0 24.4
10,442.1
1,606,1
2.161,8
421,4
8,271,8 24.5
564,9
6,165,7
1,462,5
311.0
7,187,0 '24.6
5,642,9
239,1
1,129,9
434,5
6,712,8 23.2
639,S
5.166,0
966.0
192,0
4.979,0 23.2
13.161,0
1.422,6
3.081,0
220,0
14,807.0 22.2

s

2,000.0
Bank o f X. Y . .
2.050.0
Manhattan C o.
2.000.0
Merchants’ ____
3.000.0
M echanics’ ____
A m e r ic a ______
1,500.0
1.000.0
P h e n tx ...............
C ity ___________
25.000.0
300.0
C h e m ic a l.........
000.0
Merchants' E x .
1.000.0
G allatin_______
Butch, tfc D ro v .
300,0
700.0
Mech. A- Traders
500.0
Greenw ich_____
5.000,0
A m er. E x ch __
C om m erce_____ 25,000,0
M ercantile.........
3.000.0
500.0
P a c i f i c _______
C h a th a m ...........
450,0
P eople’s _______
200.0
N orth A m erica.
2.000.0
H a n o v e r ______
3,000.0
Irving _______
1.000,0
Citizens’ C e n t..
2.5-30,0
N a s s a u _____ .
500,0
Market A F u lt.
1.000.0
M etropolitan _ .
2,000.0
Corn E xch an ge.
2,000,0
O r ie n t a l______
750.0
Im p .
Traders
1.500,0
P a r k ..................
3-000,0
East R i v e r ____
250,0
F ou rth _________
3 000.0
S econ d _________
300,0
F i r s t __________
10 000.0
N . Y . Nat. E x .
1,000.0
B o w e n * _______
250.0
N. Y . C o u n ty ..
200.0
G erm anA m er. _
7S
Chase....... ...........
1.000,0
Fifth A ven u e. _
100,0
German E x c h . _
200,0
G e rm a n ia _____
200.0
L in c o ln ________
300.0
1,000.0
G a r f ie l d ______
F i f t h __________
250,0
M e tr o p o lis ____
1.000.0
W est S id e_____
200.0
S eaboard______
1,000.0
FirstN.. B k ly n .
300.0
L ib e r t y ________
1.000.0
N . Y . P rod. E x .
1,000,0
New A m ster___
1.000,0
As t o r _________
350.0
S ta te _____ . . .
100,0

&

T otals________ 118,150,0 151,092,0 1063,739,6 181,745,6 81,638.1 1042.057,2 25.2
a Total U nited States deposits included, §10,313,000.

Reports of Non-Member B ank s.— The following is the
statement of condition of the non-member banks for the
week ending Sept. 1 1906, based on average daily results:

New York City, BostonjmdJPhiladelphia>sBanks. -Below is
a summary of the weekly returns of the Clearing-House banks
of New York City, Boston and Philadelphia.v The New York
figures do not include results for non-member banks.
W e o m it two cip h ers

B a n k s.

New York
A ug. 4 - A u g. 11__
A ug. IS - A ug. 2 5 - .
S ept. I . .
B oston .
A ug. 11. _
A ug. 18- A ug. 2 5 -S ept. 1 _.
P hila.
A u g. 11 __
A u g. I S -A u g. 2 5 -S ept. 1_.

(00) i n alt these fig u r e s .

C a p ita l
and
S u r p lu s .

L oa n s.

S p ecie.

L e g a ls .

$
269,005 6
269.005.6
269,242,0
269,242,0
269.242,0

S
1077,191,7
1072,468.3
1067,292,4
1071,132,8
1063,739,6

195,547,2
18S,939.0
IS9 129 0
186,032,8
181,745,6

s

S
87,725,3
85,058,6
81,411,5
81,720,2
81,638,1

43,480,0
43.480,0
43.4S0.0
43.480,0

189,294.0
189.360,0
189,826,0
1S5.S2S.0

16,561,0
17,439,0
17,110,0
15,423,0

5,818,0
5.712,0
5,497.0
5.664,0

50,665,0
50.665,0
50,665,0
50.665,0

222,087,0
222,388,0
222,257,0
222,351,0

B a n ks.

C a p ilal.

S u r­
p lu s.

L oans
an d
I n v e s t­
m en ts.

(00) i n all ca ses.

L eg a l
Ten der
S p ecie.
and
Bank
N o tes.

D e p o s i t w ith
C te a r ­
in g
A g en t.

O th er
Banks
& c.

N et
D e p o sits.

S

S

S

N. Y . C ity.
B orou gh s of
M o n .& B r 'x .

$
164.3
913,7
140.8 1,360.3
95.2
984.8
359,5 3,677,6
412.2 6,550.0
1.101,5 6.378,0
138,2 1,014,8
160.1 5,675,3
186,8 4,823,1
588,5 4,075.5
185.8 2 749.2
312.5 3,604,1
241.3 3,332.7
309.G 3.740,0
108,7 1,768.5
179.9 2.492,0
153,8 1.627.5
755,8 8.309.4
355.0 3,318.4
513.7 4.700,0
208,6 1 199.7
110,2
607,5

13,1
30,9
42,4
90,5
285,0
686.1
16.3
142,3
259.4
9,7
153.1
23,5
25.0
225,0
18,6
34,0
67.7
347.5
35,6
638,0
243,3
106.9

46.8
53,3
83,7
340,4
254,0
35,1
61,8
338.7
212,2
237,1
81.3
282,2
295,4
208,0
129,3
260.0
184,8
170,5
316.8
252,0
17.5
25,2

200,0
135.4 2.734.9
150.0
390.8 3,037.9
300.0
160.6 1.986.8
252.0
676,7 4.581.7
1.000.0
869,0 10.074.0
750.0
874.7 6.345.0
300.0
632.9 3.299.0
100,0
202.6 1.754,5
1,000.0 1,043,2 11.106.0

41,9
15.7
126,4
367.0
184,4
235.0
126.0
24.5
331.0

214,0
204.4
81,7
1.50,3
888,3
472,0
384.0
124.7
662.0

152,9 3.064.0
168.1
55,5 3.121,8
200,5
34,0 2.209,1
254,8
190,5 4,895.5
663.4
184,9 12,177,2
1 4 8 4 ,3
5.981.0
874.0
125.6 3.789,0
396.0
217.0
1.937,0
64 i
1.004.0 1,289.0 12,910.0

s

W a*h. H 'g ’ ts
100,0
C entury ____
200,0
Chelsea E xch
100,0
C o lo n ia l____
100,0
C olu m b ia ___
300.0
Consol. N a t. 1,000 0
F id e l i t y ____
200.0
14 th S treet. _
500.0
H a m ilto n ___
200.0
Jefferson____
500.0
Mt. M o rris ..
250,0
M u tu a l_____
200,0
19th W a r d ..
200.0
P laza_______
100.0
R iverside __
100,0
1 2 th W a r d ..
200.0
23d W a rd___
100.0
U nion E x ch .
750.0
Y o r k v t lle . . .
100.0
Coal A L Nat.
500.0
34th St. N at.
200.0
Batt. Pk.N at.
200.0

S

S

S

80,7
50,5
52,8
530,7
506.0
344,1
89,3
329,4
140,9
186,9
230,8
292,7
204,9
206,0
91,3
194.0
123,9
318.4
253,5
552,0
97,3
64,7

31.7
109,3
254,9
3.8
518,0
66,4
235,0
107,7
57,5
108,4
250,0
116,7
110,7
400.0
79,4
54,1
10,0

778,5
1,265,5
1.041,9
4,714.5
7,050.0
4,458,6
1,011,6
6,355.9
5,314,5
3,763,4
3,127,9
3,636,1
3,581,8
3.981,0
2,017,5
2,937,0
1.993,2
8,141.3
3.878,0
4,491,0
1.118.3
495,5

Jersey C ity.
First N a t ___
H ud. Co.N at.
T hird N a t___

400-0 1,153,1
2.50 0
687.0
200.0
324.2

4 ,i 19.4
3 011.9
1,889.5

171.0
97,5
35,6

321.9
83 .5
87.3

1.622.6
169.2
408.2

932.0
127.7
30.0

6.165.7
2.628.1
2,094,1

H oboken .
First N a t ___
Second N at.

110.0
125.0

2,689,5
1.494.6

163,8
47.3

35.9
35.0

149.7
63,5

200.9
76.8

2,622,5
1.621.5

571,9
186.3

T o t. S ept. 1 11237,0 14690.4 131686.8 5,461.0 7.631.1
T o t. A ug. 25 U 237 0 14690.1 131439,1 5,496,8 7.445.4
T o t. A ug. IS 11237 0 11690.4 131468,9 5.421.9 7.471,1

12.163,2 |6,129 *8 140270.1
12.952.2 6.146.1 140735.0
13.185 5 6,200.2 141104,4

C le a r in g s.

S
1076,599,3
1062,904,3
1053,756,0
1053,851,7
1042,057,2

S
46.516,6
46,054,5
46.070.5
46,107,5
46,038,7

S
1.899,879,9
1,638.231.3
1 693,776.7
2,351,389.5
2,175,188.9

212,579.0
215,771 0
213,239,0
209.128,0

7.744,0
7,731 0
7,747,0
7,699,0

128,792.5
144,942,3
140,624.0
135,495,9

249,785,0
250,877,0
250 081,0
248,163,0

14,108,0
14,131 0
14,174,0
14,262,0

121.486 5
131,063,9
130,845.6
146,859,7

a Including for B oston and Philadelphia the Item “ due to oth er ban k s” and also
G overnm ent deposits. F or B oston these G overn m en t deposits am ounted on S ep t. 1
to S I .550.000; on A ug. 25 to SI 553,000.

Imports and Exports for the W e e k .— The following are
the imports at New York for the week ending for dry goods
Aug. 30 and for the week ending for general merchandise
Aug. 31; also totals since beginning first week in January.
F O R E IG N IM P O R T S A T N E W Y O R K .
1906.

F o r w eek .

D ry G ood s_____ _ _________
General M erchandise________

1904.

1905.

1903.

§3,193,090
9,543,386

§3,055,967
10,060,328

§2,697,704
9,811,469

§2,654,249
7,276,581

T o t a l _____ ________________ §12,736.476
S in c e J a n u a r y 1 .
D ry G ood s_____ _ _________ §108,781,000
General M e r c h a n d is e .-____ 399.2S6.587

§13,116,295

§12,509,173

§9,930,830

§94,443,225
370,744,532

S81.657.475
314,278,831

§91 374,506
313,407,613

T ota l, 35 w e e k s ______

__ §508,067,587 §465,187.757 §395,936,306 §404,782,119

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Sept. 3 and from Jan. 1 to date:
E X PO R TS FROM N E W Y O R K F O R TH E W E E K .
1906.
F or the w eek________________
P reviously rep orted_________

1904.

1905.

§12,026,032
405,138,275

§9,698,162
345,154,422

1903.

§8,449,762
312,586,059

§7,713,379
328,014,396

T ota l, 35 w eeks___________ §417,164,307 §354,852,584 §321,035,821 §335,727,775

The following table shows the exports and imports of
specie at the port of New York for the week ending Sept. 1
and since Jan. 1 1906, and for the corresponding periods in
1905 and 1904:
E X P O R T S A N D IM P O R T S O F S P E C IE A T N E W Y O R K .

Imports.

Exports.
Gold.
Great B r it a in _____ _
F r a n c e __________
G e r m a n y ____________ ____ ______
W est In dies_____ __ ______
M exico ______________ ___
South A m e r ic a _______
A ll other countries__________ _____
T o ta l 1906________________________
T otal 1 9 0 5 ... ______________
T otal 1904_________________
Silver.
Great B r it a in _______________
F r a n c e _________________
G e rm a n y ___________
W est In dies___________
M exico ____________
South A m erica_______
All other countries_________ ________
T otal 1906____=.............. ................. ..
T otal 1905________________
T ota l 1904_____

Week.

Since Jan. 1

S2,100
970

Since Jan. 1

§394.920
1,986
57,200
295

§666,678
1,064,576
4,052,970
34,350

$27,120 507
9,103,266
10,053,421
2,288,428
184,183
1,359,675
168,085

§5,818,574
37,818,987
72,655.928

$454,401 §50,277.565
6,645,828
14,695
6.564,275
29,930

$606,214 §34,295,465
1,273,000
167.000
13,760
101.856
100.000
200
9 ,OSS

$1,747
7,690
47.111
1,947

§1,517
3,903
10
101,444
570.106
882,077
51,157

§773,214 $35,793,369
815,226 22,283,164
543,445 28,181,112

§58,495
19,459
5.051

SI .610,214
2,379,436
648,473

§3,070
2,000
1,606,135

Of the above imports for the week in 1906, $394,715 were
American gold coin and $1,075 American silver coin. Of the
exports during the same time $2,100 were American gold
coin a n d -------were American silver coin.

^atxhiug and financial.

B o ro u g h o f
B ro o k lyn .

B o r o u g h ___
B roadw ay
B r o o k ly n ___
Mtrs* N a t__
Mechanics .
Nassau Nat .
N at. C ity ___
North S id e ..
L n ion ______

a

C ir c u ­
la tio n .

56,412 0
56,992.0
57-724,0
56.018,0

Week.
W e o m it tw o cip h ers

D e p o sits,

T R A N S C O N T IN E N T A L

M AP

M ailed upon request.

Spencer Trask & Co.,
In v o H tx n e n t

H an k ers.

Branoh Office, Albany, N.Y. W illiam and Pine St»MNew York.

M

o

f

f

a

t

&

W

h

i

t

e

,

M e m b e r s N e w Y o r k (Stock Ex cha ng e *
6 NASSAU STREET,

H A N O VE R BANK

B U IL D IN G .

D ealer* la In v estm en t Securities.
COM M ISSION

ORDERS

EXECUTED

FOR

CAHH

ONLY

546

THE CHRONICLE.

[V O L . L X X X III.

jBtinkers’ ©alette.

State and Railroad B o n d s.— Sales of State bon ds at the
Board are lim ited to $10,000 Virginia fund, debt 2-3s at 94
The market for railway bonds has been unusually dull and
For Dividends see page 544.
narrow , and price changes are, in alm ost every case, un­
im portant. M oney market
conditons are such at the
IFaZZ Street, Friday Night, Sept. 7 1906.
m om ent as to render the ordinary investm ent dem and prac­
The M oney Market and Financial Situation.— An advance
tically nil. As usual, how ever, there have been a few ex­
in call-loan rates to 3 0 % on Tuesday and to 4 0 % on W ednes­
ceptional features, and these m od ify the situation som ewhat.
day of this week caused less disturbance in the securit y
U nited States B on d s.— Sales of Governm ent bon ds at the
m arkets than m ight have been expected. Of course the de­
m and for stocks was greatly reduced, b u t there was little if Board are lim ited to $2,000 3s, c o u p ., 1908-18, at 1 0 3 any forced liquidation, only a m oderate decline in prices The follow ing are the daily closing quotations; for yearly
resulted, and a speedy recovery took place on the announce­ range see third page following.
ment of the Secretary of the Treasury’ s plan to relieve the
Interest Sept. Sept. Sept. Sept. Sept. Sept.
situation. As a result of the latter, gold im ports in consid­
Periods
1
4
5
6
3
7
erable volum e are looked for in the near future.
•
registered Q—Jan *104%
*104% *104% *104% *104%
A nother event which has had a tendency to stimulate ac­ 2s, 1930 _____ ___
1
*104% *104% *105
*105
2s, 1930_____ ______coupon Q—Jan *104%
tiv ity , especially in the securities directly affected, has been 3s, 1908-1918- ___ registered Q— f’eb *103% hM *103% *103% *103% *103%
O
___
.coupon
Q—
Feb
*103%
*103%
*103%
*103%
103%
3s.
1908-1918
a sale b y the Pennsylvania Railroad Com pany o f a con trol­
*103% *103% *103% *103%
1908-1918- .small coupon Q— Feb *103%
ling interest in the B altim ore & Ohio and Norfolk & W estern 3s,
a
*102% *102% *102% *102%
4s. 1907 ......... ___ registered Q— Jan *102%
*103% *103 % *103% *103%
properties— and still another in the exceptionally favorable 4s. 1907_____ ______coupon Q—Jan *103% >
*131
*131
1925 _____ . . _registered ,Q— Feb *131
*131
*131
annual reports recently made b y some of the railway com ­ 4s.
*131
*131
*131
*131
4s, 1925____ _____coupon Q— Feb *131
panies.
* T h i s is t h e pri ce b i d a t t h e m o r n i n g b o a r d : n o sale w a s m a d e .
It is reported that $10,000,000 or more gold has been en­
gaged for shipm ent hither from Europe during the week
Railroad and M iscellaneous S to ck s.— There has been less
and to-d ay the cable announces that L ondon Stock Exchange activity in the stock m arket this week than during several
operations are som ew hat disturbed b y the dem and for gold weeks previous, and, as a rule, fluctuations have been
from this side. A t the same tim e the local m oney m arket within a narrower range. Operations were restricted b y high
situation is reflected in a 17 % m axim um and 3 % minimum call-loan rates, as noted a b ove, bu t the effect upon prices
rate for call loans.
was not so m arked. Beginning on Thursday m ore confi­
The open m arket rates for call loans on the Stock E x ­ dence was m anifest, business becam e again m ore active
change during the w eek on stock and b on d collaterals have and a general recovery took place. T o-d a y, how ever, the
ranged from 2 to 4 0 % .
T o -d a y ’s rates on call were bu yin g was less aggressive and a shading off in prices fo l­
3@ 17% .
Prim e com m ercial paper quoted at 6 @ 7 % low ed. As a result of the w eek’s operations, a long list of
for endorsem ents and 6 @ 7 % for best single names.
active stocks closes from 1 to 5 points higher than last week.
The Bank o f #E ngland weekly statem ent on Thursday
Baltim ore & Ohio m oved up sharply on the announcem ent
show ed a decrease in bullion of £503,7 7 7 , and the per­ referred to and has retained a large part of the gain. Great
centage o f reserve to liabilities was 50.10, against 51.05 Northern has covered a range of nearly 14 points and closes
last week.
with a net gain of 10. R eading advanced day b y day and
The discount rate remains unchanged at 3 p £ % . The Bank is 6 points higher. B rooklyn R apid Transit was decidedly
o f France shows a decrease o f 15,200,000 francs in gold and strong on its favorable annual report. Canadian Pacific
1,100,000 francs in silver.
and St. Paul were also strong features, the latter closing
N E W Y O R K CITY CLEARING-HOUSE BANKS.
3 points higher than last week.
Miscellaneous and industrial stocks follow ed the general
Difference
course of the railway list. Am algam ated Copper has been
Jrom
19 0 4 .
1906.
1905.
the m ost active of this group and closes with a net gain of
Sept. 1.
previous week.
Sept. 2.
Sept. 3.
over 2 points. United States Steel com m on advanced over
S
8
S
$
Capital__________
118.150.000
1 1 5 , 0 7 2 . 7 0 0 1 1 5 , 9 7 2 , 7 0 0 a point on T hursday, when nearly 150,000 shares were
Surplus.____ _____
151.092.000
1 3 9 . 4 9 2 . 8 0 0 1 3 4 . 3 2 3 . 4 0 0 traded in.
The preferred is also higher. A naconda Mining
L o a n s a n d discounts.
1 , 0 6 3 , 7 3 9 , 6 0 0 D e c . 7 , 3 9 3 . 2 0 0 1 , 1 3 6 - 9 2 0 , 8 0 0 1 , 1 1 7 , 2 4 2 , 6 0 0 has covered a range of over 8 points, bu t closes on ly 2 points
Circulation_ _ _ _ _ _ _ _
68,800
38,980.700
46.038,700 Dec.
53,095,500
N e t deposits_ _ _ _ _ _ _
a l 0 4 2 0 5 7 , 2 0 0 D e c . 1 1 , 7 9 4 , 5 0 0 1 , 1 6 6 . 5 8 7 , 7 0 0 1 , 2 1 7 0 S 4 . 0 0 0 higher than a week ago.
Specie __ _ _ _ _ _ _ _ _ _
Legal tenders_ _ _ _ _ _

181,745,600 Dec.
81,638.100 Dec.

4,287,200
82,100

213,787,200
83,358,600

271,264,900
80,509,500

Reserve h e l d ______
2 5 % of d e p o s i t s _ _ _ _

263,383,700 Dec.
260,514,300 Dec.

4,369,300
2,948,625

297.145.800
291,646,925

351.774.400
304,271,000

Sur plus reserve__

2,869,400 Dec .

1,420,675

5,498,875

47,503,400

For daily volume of business see page 556.
The follow ing sales have occurred this week of shares n ot
represented in our detailed list on the pages w hich follow :
STOCKS.

a $ 1 0 , 3 1 3 , 0 0 0 U n i t e d S t a t e s d e p o s i t s i n c l u d e d , a g a i n s t $ 1 0 , 3 5 0 , 3 0 0 last w e e k a n d

8 8 . 5 5 2 , 9 0 0 t h e c o r r e s p o n d i n g w e e k of 1 9 0 5 . W i t h t h e s e U n i t e d S t a t e s d e p osits
eli minate d t h e surplus reserve w o u l d be $5, 447,65 0 o n Sept. 1 a n d $6, 8 7 7 , 6 5 0 o n
A u g . 25.
Note .— R e t u r n s of s e p a r a t e b a n k s a p p e a r o n t h e p r e c e d i n g p a g e .

Foreign E xch a n ge.— The market was unsettled and weak
until T hursday, influenced b y dear m oney, a pressure of bills
and a light dem and. Then the announcem ent of interven­
tion b y Secretary Shaw to facilitate gold im ports caused a
sharp advance; the tone was irregular at the close. R e ­
ported engagements of gold $10,850,000.
T o-d a y 's (F riday’ s) nom inal rates for sterling exchange
were 4 81)-^ for sixty day and 4 84)^ for sight. T o -d a y ’s
(F riday’s) actual rates for sterling exchange were 4 8050 @
4 81 for long, 4 8 3 5 0 @ 4 8360 for short and 4 8 4 1 0 @ 4 8420
for cables. Commercial on banks 4 7 9 9 0 @ 4 80 and docu ­
m ents for paym ent 4 79U j@ 4 80p2. Cotton for paym ent
4 79)d!@ 4 79y%, cotton for acceptance 4 7 9 9 0 @ 4 80 and
grain for paym ent 4 8 0 ^ s @ 4 8 0 H .
T o -d a y ’s (F rid ay’s) actual rates for Paris bankers francs
were 5 22)qja@ 5 2 2 x/ i for long and 5 2 0 % @ 5 2 0 h for short.
Germ any bankers’ marks were 93 15-16@ 94 for long and
94 9-16c/@94 9-16 for short. Am sterdam Bankers’ guilders
39 15-16@ 4 0 a for short.
E xchange at Paris on L ondon to-d a y 25f. 17c.; w eek’s
range 25f. 17J^c. high and 25f. 17c. low .
The w eek’s range for exchange rates follows:

JVeek ending Sept. 7.

Sales
pr
Week..

Range jor week.
Lowest.

Alice M i n i n g
B e t h l e h e m Steel C o r p _ _
Buff R o c h & Pittsburgh.
C h i c M i l w & S t P rights.
C o m s t o c k T u n n e l 1st 4s_
General C h e mical.. _
Preferred
__ _
L a c l e d e G a s (St. L o u i s ) _
L e h i g n & W i l k e s b Coal..
N Y D o c k preferred_ _ _
N Y & N J Telephone__
Northern C e n t r a l ____
Pitts F t W & C h i c a g o _ _
Vandalia
__ _
.
V u l c a n D e t i n n i n g , pref.

100 S3 Sept
7u0 22 Sept
100 1 5 3 % S e p t
77.510 1 7 % Sept
1 , 0 0 0 12c. S e p t
62 75 Sept
100 105 Sept
100 95 Sept
100 60 Sept
2 0 0 ; 84 Sept
5 0 1 2 5 Sept
160 2 0 9 % Sept
5 1 7 4 Sept
100 85 Sept
500 6 0 % S e p t

Highest.

4 $3 Sept
4 23%Sept
5 1 5 3 % Sept.
1 18%Sept
4 12c. S e p t
1 76 Sept
4 105 Sept
7 95 Sept
7 60 Sept
5 S4 Sept
6 125 Sep t
6 2 0 9 % Sept
6 174 Se p t
0 85 Sept
6 6 0 % Sept

|

Range since Jan. 1.
Lowest.

4 S2%
T 21 %
5 140
4 15%
4 12 c.
5 75
4 103
7 95
50
II
Oj 7 8 %
6 125
61209%
6 174
5i 8 2 %
4j 5 0

Highest.

Jan S6
Aug
26%
May 153%
Aug 1S%
S e p t 30c .
Aug 84%
Mch 106%
Sept 1 0 4 %
F e b 60
Jan: 8 4
July 1 5 5 %
Sept 2 0 9 %
A u g 182
M c h S5
J a n 67

Jan

Aug
Sept
Sept
Mch
Feb
Feb
Feb
Sept
Sept
Feb
Sept
Jan
June
Apr

Outside M arket.— Trading in outside securities this week
has been m ainly in m ining shares, transactions in several of
the low -priced issues attaining large p roportion s. The m ar­
ket generally has m aintained a firm ton e, with the tendency
towards higher prices. British Columbia Copper was heavily
traded in and rose from 10)^ to 1 1 )4 , w ith the close at 11.
Nipissing and C um berland-Sly were the m ost active features
and sold at their highest figures, the form er m oving up from
8)4 to 9% and the latter from 9
to 10pg' There has been
optim istic talk regarding B utte Coalition— of new ore find­
ings and big dividends— and the stock m oved up from 32)4
to 3 4 )4 , easing off finally to 33jMs- Greene Consolidated
-Long-Short-CablesCopper was fairly active and rose from 2 4 ^ to 2 5 )4 , bu t
Sterling Actual—
ends the week at 25. United Copper com m on was steady
H i g h ____ 4 8050
4 81
@ 4 8390
14 8 3 3 0
14 8 4 1 0
4 8420
L o w ____ 4 80
4 8005
14 8 2 8 5
@ 4 8315
4 8380
!4 8 3 7 5
and im proved from 62% to 6 3% , closing at 63)4- Tennes­
Paris Bankers’ Francs— ■
see Copper lost 1)4 points to 4 3 )4 , recovered to 44 Ys and
H i g h _ _ _ _ _ 5 22V2a @ 5 2 1 %
@ 5 20a
15 20 %
L o w _ _ _ _ _ 5 2 3 Ha @ 5 2 3 %
[5 2 1 %
@ 5 20%a
then dropped to 43. Utah Copper advanced from 29 to 29)4
Germany Bankers' Marks —
bu t fell back to 28 % . B oston Consolidated Copper from
H i g h _ _ _ _ _ 93 15-16 @ 9 4
I 9 4 9 - 1 6<Z @ 9 4 9 - 1 6
L o w _____ 9 3 %
@ 93%
| 9 4 7-16 @ 9 4 %
28)4 went up to 29 % . H avana T ob a cco com m on was con­
Amsterdam Bankers’ Guilders—
spicuous, running up from 16 to 19, and falling ba ck to-d a y
High_____
______________
40ft
40 d
L o w ___ _
______________
39%
to 17. Chicago Subw ay advanced a point to 53% , sank to
39 15-16
52, then developed strength, and ends the week at 53% .
Les s: a 1 -1 6 ol 1 % . d 1 - 3 2 ol 1 % . ft 3 - 3 2 ol 1 % .
International Mercantile Marine preferred, after fluctuating
Plu s: k 1 - 1 6 ol 1 % . .r 1 - 3 2 ol 1 % . y 3 - 3 2 ol 1 % .
The follow ing shows the rates for dom estic exchange on betw een 28)4 and 2 9 )4 , ju m ped up to-d a y to 31 and closes
New Y ork at the underm entioned cities to-da y: Savann; h at 30. Am erican T ob a cco sold up from 380 to 390. Gug­
bu yin g 50c per $1,000 discount; selling 75c. per $1,000 pre­ genheim E xploration lost 20 points to 270. Onty a few
m ium . Charleston 10c. per $1,000 prem ium . New Orleans transactions were recorded in Standard Oil, the price advan­
bank 85c. per $1,000 discount; com m ercial $1 per $1,000 dis­ cing from 600 to 606. E lectric Vehicle preferred advanced
count. Chicago 10c. per $1,000 discount. St. Louis 40c. from 18)4 to 20, easing off to 1954Outside quotations will be fou n d on page 556.
per $1,000 discount. San Franciso 50c. per $1,000 prem ium .

New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
orouPYtNf;
s t UC AS —H ! u li L S I A S D L O W E S T S A L S

b a lu ria y
Sept 1

Mon da v
Sept 3

I itesd a y
S ept 4
1064
iOO
143
1 19%
.2
77 4
•M>
175 4
*64
•2*28
63 4

•17% 18
• 7 9 4 82%
7 6 8» 7 6 4
• 2.
28
1 7 6 4 ■77*4
iu 7 4 iy y
211
2 i2 4
• 230 23 9
•180 185
• 18 0
ly o
•12
14 4
•27
30
5
6
17*4 19
94
95%
1114 114
37
37^4
69
69
•50
51
21 7 2 1 7 4
*6u6 545
434 444
86
So
•93
95
•19
2 u%
•39
42
4 5 7s 4 6 4
•77 4 78 4
72
72
•65
70
•90
96
8 2 7 % 331

17% 18
79 4 79%
• 7 6 4 77 4
27
27
17 * 4 1 8 3
197
199
212
216
* 2 3 0 239
* 180 185
* ISO 190
*12
144
*27
30
5
64
19
20 4
95
95
114
114
37 4 37%
69
69 4
*504 514
216
218 4
*505
645
43
444
*85 4 87 4
*93 4 95
20 4 ‘2 0 4
40
40
464 474
*77 4 78 4
7 1 4 72
*65
70
*9 0
95
3 2 6 4 334

Sept 5

174 174
*7 9 4 81
* 7 6 4 77 4
27
27
17741804
*195
198
210 213
*230 239
*180
185
* 1 8 0 190
*12
14
*27
314
64
64
19
204
93
94
*113 114
37 4 37 4
*69 4 7 0
*5 0
5i
214 216%
"5 0 5 6 4 0
4 2 4 434
86
86
*93 4 96
1 9 % 20
38
40
46
47
7 7 4
774
71
72
*65
70
*90
95
324 4 330

17 4
46

60
90
• ................ 127
................
•96
•173 17 4 %
38
38 4
•78
79 "
2 9 % 29%
62
52
*66
70
•79
81
28
28
6 7 4 58
83
33
So
8o
•65
70
1*6 4 14 J
•147
150

17 4
46
*45
48 4
*80
90
♦................ 90
♦................1 2 /
* ................ 127
96
95
*95
................
1 7 5 4 174 4 1 7 3 4 1 7 3 4
8 7 4 38
3<% 3 9 4
78
784
784 784
v29
30
29% 2 9 4
52
62
* 5 1 4 62 4
*6 6
70
*6 6
70
*79
81
*79
8L
2 7 4 28
2 8 4 28%
68
684
6 7 4 68
*31
33
*77
8L
*6 4
69
*65
70
149
149 4 1 4 7 4 1 4 8 4
147 147
149 149

•45
•80

)T

M
O

tri

H
W
P

•
•

10S % -1 0 6
20 4
204
*185
195
73
72 ^
* 92
99
*151
156
173
1.2
36 4
354
*70
71
96
984
142
*140
464
46%
*20
22 1

ill4
21
200
724
99
156
173
354
71
97 4
14-'
47
23

•106 110
213s 21 %
• lt 5
2uu
•70
74
*92
§98
1 55% 155%
17 OH 171«b
8 6 “j 36
7 u 4 71
9 6 4 98
•142
145
46
45 4
• 2 i% 2 2 4

♦106
20%
195
724
*92
155
172
35%
71
964
142
46
2c 4

1 4 3 4 146
68
68%
• lli
120
•e>6
90
•1.04 196%
49 4 5 1
934 93\
•90 4 9 1 4
21 4
217
*12,
120
• lo o
lo 8
•126 130
1414142 4
•42
46
* 6 3 % ©6 4
• . ............. 109
236*4 138
•C9
90 4
•90
93 4
27 4 27 4
65
6o 4
•b6
7U
•45
46
25 4 2 o %
60
b1
0u % 01%
• lib
118^
37 % 8 8 - 4
•99 *v loO s
8 -i *^| O-i
• 1 -4
127
•80
32
68
38

80 4 8 0 4
143 4 1 4 6 **2 1.42 4 145
06 4
68 4
6 7 4 68 4
*1 1 4 120
* 113
ll7
*86
90
*85
88
• 19 4 1 9 5 4 * 1 9 4 4 1 9 4 4
6 0 4
50%
5u % 5 1 4
9 3 4 94 •*
y3 4 9 4 4
* 9 0 Si 91 si *90 Si 9 1 4
2 1 2 4 215
2144 2 18
* 1 2 / 130
*1 -8
150
*100
to 8
*,.00 108
•125
130
• 1 2 t 130
1 4 1 4 -4 4
J.4 1 4 142%
*45
45
42
42
86
86
'8 4
86
10 8
I 08
*1 0 7 108
l 3 7 - 4 1 4 1 4 1 3 ^ 4 l40%
*o9
9 0 4 * ................ 90
*9 0
05
* ............. ... 95
27 4 2 8 4
27 4 27 %
60 4
664
6 4 % 65
*65
7u
65
65
454 454
45
46
2 * 4 2 4 % *24 4 25
6 .‘ 4 69%
60
61
90 '4 9 2 4
90 4 91%
* 1 H % 117 4
11741174
38
3 8 'b
37 4 38 4
99 100
98 4 9 9 4
8 14
3o4
3^4 344
*126
127
*125 1 / 6
J32 4 3 2 4 * 3 1
32
33
33 *4
*■<
83
62*4
53
62S 52S

6 2 4

•
•
:
:
•
•
:

6 24

e-~

—

B A xN K S
Banka

1 n u rsa a y

tfr ea n esa a y

S ept 6

F r id a y
Sept 7

pages

STOCKS
N E W Y O R K STOCK
EXCHANGE

R ange tor y e a r lyUG
dan ge fo r J'reviou t
SaUs of
o n Oasis 0/ lOU-share Lots
i'ea r ( 1UU5 >
the
Week
Shares
//ighest
Lowest
H ighest
Lowest

R a ilr o a d * .
4 t-cfi. T ou ek a «fcS a n ta F e 2 7 3 ,4 0 0 8 5 % M ay 2 109 S ep 7 7 7 % Ma\ 9 3 % M,ir
1 ,7 5 0 9 3 % J ‘ly 3 106 J a n 3 99
Jan 105% S ep
D o ’ p r e f ...................
1,4 0 o 131 4 J ’ ly 3 1 6 / *8 J a n 20 120 Jan 17u
A pr
A t la n t ic C oa st L in e K K ..
A ug
I >altnnor6«fc O h i o ............ 204,24u 105% May 2 1 .4 % S ep 4 1 o O 4 J an 117
40 0 92 J ’ ne27 9 9 4 J a n 5 91
A ug
M ai 1 0 0
l ) o p r e f...........................
5 6 % Ma> 9 l % N o v
B r o o k lj'u R a p id T r a n s it .. 110,370 71 J ’ ly 12 9 1 % J a n 2
....
83 J a n 12 87
F e b 8 84
D e c 9 1 % A1 uy
B u ffa lo <fc S u s q n e , p r e f . . .
/ ’ a n a d ia n P a c ific .............. 16,300 155% M ay 2 179% A u g 9 130% J a n 177% S ep
LOO 65 4 .J ’ n e3 0 7 0 % J a n 8 67
N ov 74% A u g
V a n a d a S o u t h e r n .............
2 0 4 M a y 2 23 9 % M ay 24 190
O ct
May 235
C e n tra l o f N e w J e r s o y .. .
45 4 M a> 6 0 % M ar
C h e sa p e a k e & O h io ............ 1 8 ,0 9 0 53 4 A p r 28 6 >% A u g .0
25
M ay 6 38% Jan 15
30
D o c 4 4 wj M ar
*
7 4 M ay 3 8 0 % J a n 12
83% A p r
75
O ct
3 ,4 0 0 16 J ’ n e lb 2 3 % J a n 2 0
18
18%
18
1 8 4 C h ic a g o G r e a t W e s t e r n ..
1 7 4 May 25 4 M a r
25 0 79 % S ep » 8 6 ‘*2 J a n 17
83% Mav 89
S ep
* 7 9 4 81
* 7 9 4 82%
D o 4 p. 0 . d e b e n tu r e s
200 72 4 J ’l y 13 8 0
J a n 31
60
J ’n e 7 8 4 S eP
* 7 6 4 7 7 4 * 7 6 4 77
D o 5 p. 0. p re f. “ A ” ..
4u0 25 J ’ ly 21 3 9 % J a n 22 29
*27
28
May 37 4 A p r
*2 7
28
D o 4 p. c. p re f. “ B ” . .
1 8 0 4 1 8 1 % 179% 1 8 1 % C h ic a g o M ilw . & S t. P au l. 2 0 0 ,4 0 9 155 % M a y 2 1 98% A u g 27 168% M aj 187 4 A p r
9 0 0 177 4 M a v
198
198
2 1 S A u g 7 182 4 J a n 192 4 A p r
*1 9 6
198
D o p r e f ...........................
2 1 0 213
212
215 % C h ic a g o & N o r t h W e s te r n 2 9 ,0 7 o 19 J A p i 27 2 4 0 J a n 15 a l (J0}% .J’ne 249 J a n
100 22 5 A u g 9 27 0
*23U 239
M a r 80 234
2 3 2 232
Jau 265 4 F e b
D o p r e f ...........................
. . . . . . 168
J ’n e .8 198 J a n 15 L50
*1 8 0
185
'1 8 0
lb 6
Jan 225 J a n
C h ic. St.*P. M in n . & Oni.
20 0 1 7 6 J ’ n e i s 202 J a n 15 195
*180
190
187
188
Jan 230 J a n
D o p r e f ...........................
9% A p r l » 18% J a n 19
*20 J ’ n e
*12
14 4 *12
7% Jan
1 4 4 C h ica g o ^ T e rn i'l T r a n s fe r .
......
27 A p r 27 42 % J a il J_
*27
314
17 4 Jan
*27
314
4 2 4 J ’ iy
D o p r e f ...........................
3 ,5 0 0
3 7e M ay 21 1 3 3 4 F e o 20
5
54
4%
5% C h ic a g o * U n io n T r a c t io n .
6 .J’ ne 13 % F eb
8 ,4 1 0 1 1 '8 J ’ ly 12 47 4 A la n 2 30% J ’ly
54
F eb
19 4 20
iy
19%
D o p r e f ...........................
M ar
2 ,1 5 0 9 0 % May 2 1 0 9 % J a n 15
94
94
90 Jan 1 1 1
9 4 4 96 4 C le v e . C in . C h ic. <fc St. L .
*113
1 J4
2 6 0 11 0 J ’ly 19 118 J a n 23 115% J ’ ly 121% M a r
*113
114
D o p r e f ..........................
3 ,7 0 0 29 % J a n 4 3 b % A u g 7 22 % Jan
3 0% A p r
37 4 37 4
36% 37 4 C o lo r a d o & S o u t h e r n ___
500 66 4 A p r 30 73 ‘8 F e b 20
52
M ay 6 9 % D e c
* 6 9 4 70
64 4 69 4
D o 1 st p r e l e r r e d ---------1,400 4 3 M ay 2 56% J a n 12 32 4 M ay 55 D e o
49 4 50 4
50% 61
D o 2 d p r e fe r r e d ........
7 ,50u 189
M ay 2 231 J ’ n e l 2 1 7 8 4 Mav 240% O ct
2 1 6 4 2 1 7 4 2 1 6 % 218 4 r \ e la w a r e & H u d so n . . .
*505 545
. . . . . . 437% M ay 2 5 6 0
M ay 2 4 335 Jan 498 4 O c t
*ouo
545
* 'o l a w . L a ck . & W e s t ’ n .
4 ,4 0 0 3 6 's M ay 2 5 1 % J a n 26
27% May 39% D e c
43 4 4 3 4
4 3 4 44 4 D e n v e r <fc R io G r a n d e ___
86
86
7u0 83 "2 J ’ly 3 9 1 1>2 J a n 2 -S3 % May 91% D e c
86
86
D o p r e f ...........................
*93
95
10. £ 9 0 4 J T y 1 6 i0 2
F e b 9 76 4 J a n
9 4 4 94 4 D e tr o it U n it e d .....................
96 4 D ec
90 0 16 J ’ly 13 22 % Jan 11
1 9 % 19% * 1 9 ^ 20
11% M ay 22% N ov
D u lu th So. s n o r e & A t l . .
1 ,0 j O 32
A p r 28 45 J a n 11
38
394
*3 7
40
21
M ay 46% N ot
D o o r e ! ............................................
46% 4 7 %
4 6 4 4 7 % l / ' n e . . / . ................................. 113,700 3 8 4 M ay 2 5 0 % J a n 16
37 4 M ay 52% A u g
M ay 2 83 J a n i5
65 0 75
77
77
77% 77% P j D o 1 st p r e f ................................
7 4 % M un 85 4 A u g
*7u
724
1 ,8 0 0 62 4 A p r 27 7 6 % J a n 16 55 4 Jan
7 1 4 72
78% A ug
D o 2d p r e f ................................
*65
70
600 7 U S e p 7 76 J a n 2 63 J ’ ly 75
Aug
70
75
E v a n s v . & T e r r e H a u t e ..
*90
95
80 J ’ly 13 9 4 A u g 2
*9 0
95
85 N o v 96 A u g
D o p r e i...
330 336% 335
M ay 2 848 F e b 9 236 Jan 335 A p r
340
G r e a t N o r t h e r n , p r e f ............. 6 3 ,5 0 0 27 5
86 M a y l - 92 4 J a n 1 2
90 J a u
16 J
2 23 4 J a n 19 17
4
Ma\ 24 4 J ’ n e
*46
60
*46
60
100 33 4 J a n 19 53 A u g l 4
15 A p r 38 4 D e c
I I a v a n a E l e c t r i c .......................
*8 0
90
7 7 % J a n 15 9 7 3 4 M ay 8 50 J ’ ne 82
D ec
*80
90
D o p r e f ............................................
. . . . . . 1 1 3 4 F eb
* .................127
b 135 A p r 24 8 6 % J a n 1 2 1 4 D e c
* .................127
b lo c k in g ' V a l l e y .............................
*9 4 % 97
*94% 95
20 0 93 M a y 2 9 9 % m e 1 90 Jan
9 7 -4 N ov
D o p r e f ..,
M ay 2 1 8 4 ^ J ’ n e 7 152% 3an 183 S ep
1 7 3 % 173 4 173
975 164
173 4 [ llm o is C e n t r a l .............................
38
38%
l5 ,3 0 u 3 3 % J ’ n e27 5 5 % M aylO
___
••••
78 % 7 9 ~
79
794
2 ,6 5 0 7 0 % J ’ iy 3 87 % M a ylO
D o p r e f ..............................................
29% 2y%
F eb
4 4 0 2 4 J ’ly 12 3 4 4 J a n 12 24 M ay 3 2
29 4 29 4 I o w a C e n t r a l ......................................
5 1 4 61 % *51
62
40 0 4 8 J ’ ly 17 6 3 3 4 J a n 13
50 M ay 61 D e c
D o p r e f ............................................
______
52
M a r 7 76 j ’ n e 8 29 4 M ay 58% D e c
*66
70
*66
70
[ / a n a w lia <fc M ic h i g a n ..
*79
81
79 4 J ’ly 26 8 4 % F e b 7 8 1 % J ’ n e 87
O ct
*79
8 L *V C .F t.S .< feM .,tr. c ts . p fd
28
28%
J ’ly 3 3 7 % J a n 5 22 % M ay 36% D e c
28
28% K a n s a s C ity S o u t h e r n . . .
2 ,5 0 0
6 7 4 5 7 si
70 F e b
6 7 % 53
Jan
2 ,0u 0 4 9 J ’ly 12 71 J a n 5 52
D o p r e f ............................................
*31
35
*31
35
l o o 2 7 4 J ’l y 3 4 4 'g J a u 12
28% J Tie 47 4 D e c
[ a k e E r ie & W e s t e r n ...
*78
81
A u g 2 b 29 j 4 J an -5
*77
81
1 00 8 0
91
J ’ n e 106 M a r
JH D o p r e f ___
*64
69
67 J ’ n e2 6 81% J a n 16
*63
69
50 4 M ay 7 3 % N o v
L o n g I s la n d ..............
148% 149
147 4 1 4 9 % L o u is v ille <& N a s h v i l l e ... 1 0 ,1 0 0 136 % M a y 2 15 6 4 J a n 19 cl34 4 Jan 1 5 7 % s e p
*147 150
* 1 4 6 149
J a n 26 L61
F eb
60u 147 A u g a o 16 2
M ay 175
Y la n h a t t a n E le v a t e d ...
65
Feb-.e> 5 7 5 % M ay 11
91
M ar
lu 3
J ’ly LX 127
* ii>6
1 1 1 4 • 10 6
J a n 16 1 L4 M ay 133 A u g
l i i 4 M e tr o p o lita n S t r e e t .................
21
21
2 0 % 2 0 % .M exica n C e n t r a l .............................
18 % M a) 26 M a r
i , 2 0 0 1 8 % M ay 2 2 6 % J a n 19
*185 2u0
•190 200
Aug
M ic h ig a n C e n t r a l ..........................
100 14 0 M a r l 9 20 0 J ’ ly 17 2130 J ’ ne 155
84% O ct
724 724
7 2 4 7 2 4 M in n e a p o lis <fc S t. L o u is .
600 6 3 A u g 3 8 4 4 J a n 11 5 6 4 Jan
*92
99
90
A p r 27 LOO % J a n 3 86 J a n 106 O ct
*9 2
99
D o p r e f ............................................
155
156
M a i 24
*152
1 5 5 4 M in n . S. P . «fe S. S. M a rie.
D ec
89 4 J an 145
1,900 1 4 1 4 J a n 4 16 4
D ec
1 7 3 4 1 7 3 4 17 3 % 17 3 %
D o p r e f ............................................
6 00 1 6 3 4 A p r 3 0 l 8 3 y4 J a n 11 148 J a n 173
3 5 % 36
M ay 2 40^8 J a n 12
24 Ma> 39 4 N ov
4 ,5 JO 29
35 4 36 4 M o . K a n sa s cfe T e x a s .............
71
71
Aug
71
71%
1,3 JO 0 4 % A p r 27 7 4 % j an 18
56 % M ay 73
D o p r e f ............................................
96% 98
97 4 98
M is s o u r i P a c ific ............................. 2 6 ,4 0 o 8 0 4 M ay 2 10634 J a n 20 94 4 M ay 1 1 0 % M ar
*140
142
*140
142
3U0 1 3 3 M ay 3 149 4 J a n 12 137 J an 158 A p r
V ash . C liatt. & S t. L o u is
Jan
4 o 7a 4 6 7g
S ep 5 3 3 % M a) 45
4 6 4 46% -i^l a t.o f M e x , n o n -c u m .p i
5 ,1 0 0 5 6 A p r 27 4 /
*2 l
2 2 '. *2 1
23 s
D o 2d p r e f ...........................
200 18 % J ’ n e i6 2 2 4 s e p 4 17% J ’n e 24 4 J an
5 2 ' 3 j ’ u e i6 <jq v a u g /y
N ftw O r le a n s R y
Lt
D o p r e f.
50 0 8 0 -4 S ep » 8 3 A u g 4
144 4 146 % N . Y . C e n tra ] & H u d s o n .. 7 3 ,1 0 0 1 2 7 % J ’i y 2 156 ‘4 j aiT 8 1.36% M ay 167% M ar
143 4 1 4 4 %
67
67 4
67% 68% N . Y . C h ic. c& St. L o u i s .. .
7 6 14 D e c
7 ,0 0 0 •j 9 M a i 0 73 A p r 17 42 J a n
*114
117
111 A p r i l i 2 0 a J a n 27 114 JT y 122 4 J a n
*114
118
D o 1 s t p r e f .................
*86
90
74 M ay 95
D ec
88
89 4
D o 2 d p r e f ................................
90U 8 0 M ay 3 9 13^ j an 9
J ’ ly 1 0 2 0 4 % J an i y *191% D ec 2 2 1 6 S ep
\194 4 1 9 5 4 *1 9 4 4 1 9 6 S N . Y . N . H a v e n c& H a r t f.
20 l y o
64
M ar
60% 5i 4
4 0 % J an
6 0 % 60 4 N . Y. O n ta rio & W e s te r n .
9,7 10 4 3 34 M ay 2 57 -4 J a n - .
93% 94
F e b 2 o 9 4 % S ep 4
92% 94 4 N o r fo lk & W e s t e r n ............ 2 4 ,6 5 2 8 1
76 Ma\ 8 8 4 M a r
89 4 A p r 12 96 J a n 6 9 1 % F e b 0 6
Aug
* 9 ^ 4 9 1 4 *9u 4 91%
D o a d ju s tm e n t p r e f.
214
217
2 1 0 4 219
N o r t h e r n P a c ific ...................
5 8 ,^ 5 0 179% M a y 2 23 2 4 t eu 14 165 A p r 216 4 A u g
•127
130
103 J a n 10 1^2 j ’ n e 5 78% Jan LU9 % O ct
•1 jL6
130
L )a c ific C o a s t C o ..........................
i Oo j a n 5 1 06 J a n 29 luO Jan 108 F e b
*100
108
*100
108
1 D o 1 st p r e f................
*120
130
105 4 J a n 10 135 M ay 8 85
O ct
«l2 6
130
J a n 109
D o 2 d p r e f ................................
142 4 1 4 3 4 1 4 1 % 143%
2 5 0 ,0 1 2 1 2 2 ^ J ’ |y z L47 4 J a n 2 ■ 131 4 M ay 148 A u g
-4 0
40
A p r 28 4 6 ^2 J an i5
48% A p r
P e o r ia <fc E a s t e r n ...
27 J a n
100 53
85
85
70 Ma> 187% M a r
85
86
P it t s 0 . C in . C ine. <fc S t. L
30u 76 M a y 2 87 J a n 24
'1 0 i 4 l u 8
105 F e b 112
M ar
A ugl
D o p r e f ...................................
* 1 0 7 4 103
lo O D>0 M ay 4 l o 9
1 4 0 4 143 4 142 4 1 4 4 % |j e n d i n g .................................................. 8 3 3 , UOj 112 M ay 2 £164 J a n -3 £7 9 J a n 143% N o v
90
00
•______ _ 90
JLVlai p r e f .......................
sep
90 May 97
i 00 89 ^ M a r 1 96 J an 2 2
*91
02
2d p r e f ..........................
<s4 J a n 101 N o v
03
03
10 0 00 A p r 36 102 J a n -0
2 1% D eo 3 7 % J a n
27% 28 4
2 7 % 28% R o c k Is la n d C o m p a n y ..,
2 1 ,1 0 0 22 4 J ’l y 13 2 9 % A u g2
J ’ ly 2 6J34 A u g -0
65
60%
D o p r e i .............................
60 4 N o v 85
Jan
6 5 % 6 6 ‘4
4 ,yOo 60
K eu 2 6 7234 A p r 3 67
6 4 % 65
65
65
S t. L. & S .P r ., 1st p r e f ___
D e c 81 % M ar
600 60
D o 2d p r e i ______
45
45
45
454
D e c 73 4 M ar
2 ,0 o 0 4 0 4 J ’ ly 17 51 % F e b 6 45
25
25 4
26
25% , St. L o u is S o u t h w e s t e r n ..
1,900 2 0 4 .day 2 27 -h Jan 19 20 May 27 4 J a n
4834
M
ay
d
D o p r e f ................................
61 % S ep « 55 N ov 66 % A p r
61
614
5 ,8 0 0
61 % 61 4
M ay 2 93
A ug2o
91% 92
91
92 4 S o u th e r n P a c ific C o _____
1 7 5 ,7 0 0 61
57% May 7 2 % F eb
D o p r e f .....................................
118
118
118
113
1 ,0 1 1 J 16 J ’ ly 2 120-^ J ’ n e 6 115% Jan 122% D e c
37 % 38%
3 7 % 38 4 S o u th e r n v .tr . o f a. atm peu 2 1 ,8 0 0 52 4 J ’ ly 12 4 % J a n 26
IS M ay 3 8 S ep
D o p r e f.
do
99
00
99
90
2 ,6 0 0 97 4 J ’ly 16 103 J a n L6 95 A p r 102 4 Sep
35
35% I 'e x a s 6c P a c i f i c ...................... 12,750 23 M ay 2 3 9 % J a n 24 29% A p r 41
M ar
35
35%
-1 2 5
127
A b ir d A v e n u e (N . Y . ) . . .
123 A u g 10 £1.19*^ J an 17 12 0 D e c 14 i
D ec
*1 2 4
127
*3 0
32
37% A p r
22% J a n
60 29 4 A p r 23 3 6 J a n 2 *3 0 4 32 4 T o le d o RaiJ w a y s & L ig h t
32% 3 3 4 T o L SL L. 6c W . v . tr. o i l s
l,OoO 2 5 % j ’ iy 2 4 0 Si J an 19 34 % M ay 43% A pr
32 4 32 4
D o p re f. v o t. tr. c t f s .
43
J’ iy 13 5 9 % J a n 19 51% Jan
65 A p r
6 . % 51%1
800
614 614

106% 108
108
108
101
10 0 4
100^ 10 0
143 143
143
143
124 4 1 2 1 4 1 2 2 4 1 2 1 4
. ......
*92
92
7s %
79 4
70 4 7 ^ 4
*8 0
88
*8 0
88
176% 1 7 3 4 1 7 5 4 177
*6 4
66
67
65 4
* 2 2 5 239
*225
234
64
65
63 4 6 4 4

U t i V, 107%
* 10 *4 l u l %
14 142
in % u s%
•
HJ.
75 % 76%
V-*U
88
17;: t> 174 4
•65
684
• 2 .8 234
6 1 ‘rj 63

R A IL AS

two

A .N D

1 0 8 % 107 4 1 0 9
101
10 0 4 10 1
143
140
143 4
1 2 2 4 120% 122
94
'9 2
94
7 9 % 81
80 4
88
*80
88
1 7 7 4 17C.a, lV siV
66
65% * 6 5
232
*2 2 5
230
64%
63 4 64 4

TRUST

C O M P A N IE S — B R O K E R S ’ y U O T A T l O N S

A ik
B id
B id
B id
A sk
Banks
Bank's
A 8k
B id
A sk
B id A s k
Banks
Banks
Banks
Chemical_
_
260
Imp
6c Trad. 540
*240
340
560
405
P
acific^.......
4100
4250
Metropolis
.
Fifth.............
JTEW TORE
I486
Citizens’ Ctrl 140 14 3
First
Park..
690 7l(i
f n ierboroV . 155 160
160 170
Aetna........... 205 215
r-ai 240
City
300
240 250
5 lO 1rvmg .
268
America * . 520 540
Coai & Iron. 250
J erterson’u...
Flien i x ........ 190 200
2u0
\i utnai’ij u
14th Street}]. 200
300
Amcr Excli.. 260 266
Uiberty ......
Fourth
212 2 17
Plaza*,.......... 660 580
520
ColomaH ... 600
20 2 212
As to r........... 650 750
'2(jo
170 150
Lincoln..
Pr<>d IGcli'
1500 1700
‘ToiurabLa •
375 400
425
Battery Park 120 135
•iOo
Manhattan',. 2 *0
liiveraide^i . . 250 280
Commerce.. . t l * 7 % t 189 •ia rfield _____
10
New York Co 1200
Bowery^ . . . .
3 5
Market 6c Fm 265
Consolidated i 65 170
German Am* 150 160
75
N Y Nat Ex. 200
:<»5 Seaboard . . . . 3 0 5 ••••«•
B u t C h ’ a 6c Di 1 0
170 C*ru Excuse' 3 0 380
»i e chan i c s ’ . 2a 5
Second ........... /OO . . . . M
German Ex' HO
265
New Y ork . .. 305 310
Century \ ___ » 76 185
Discount*..
>1ecu 6c Tra* 150 165
state', ................. 2000 ••••
150
Germania', . . 500
19 Ui Ward* .
09
C ha^e .............. «UU . . . . . . East River.. .50 160
de ream tile .. 1 10 .60
:ltb S treet.. 2U5 . .
Green wich \ 290 3 95
North Amer. 270
Chatham ...
70
Fidelity
vleroh Excu
I 2th Ward* . 350
Uu
'•JO
2 L>
Chelaea K ic ISO
_3d \Var»l’ . 190 —
de Tenants'.. 156
Fifth Ave* .. 3800 4200 Hanover....... 500
.....
60
irieutal4 ... -GO .70
• bid »nu Miceil
ao f*aie* were made oo this day. $ Le-*5 than 100 shores. I Ex -right*. ^ state uanae. a Ex-divideuJ aud rights. 0 N ow stock*
t So*e at Stock E x c h a n g e or at auction tins week.
* T r u s t Oo. certificate*.
A Assessment paid,
n Sold a t p r iv a t e sale at this o n c e .
Bui

A ik

New York Stock Record— Concluded— Page 2

548

STOCKS—H IG H E S T A N D LO W EST S A L E FKJL Ee
Saturday
Sept 1
*115

M onday
Sept 3
•
1
•
•
•

116*4

191% 194 %
*94
95
65
65%
73% 74
20

45
*35
*18
41
*23
*25 %
61
*276
*18*2
*46
109
*2 2 %
*93
22%
*83
40
*10 0 *4
*31*2
*92
5270

*6 0
*95
1664
117
*200
*10 2

110

4
*29%
79 4
*19
*394
714
*112
*4
27
*20

1

f
0

$

a
•
•
tt
•
•
•
•

9

1

a
•
a
•
•

10 1

52
93 *2
270
9%
7
31
80
21
43
72
113
5
27
30
70
97
1574
117
240

*8
*6

1

.........
19*2
49
110*2
25
.........
22%
83
40%

•
•
•
•
•
•
0
•
0
raj
•
•
•
a
•
0
0
•
•
0
. 0a
a
•
•
•
•
0
'•*
a
t0
a
0

*104 114
4 2 4 42 4
13d 136%
♦135 140
*125 135

0
0
9
0
0
•
0

*10 0

0
0
>
0
•
0
0

«•
0

10 1

35 4 3 6 4
1034103 4
276 280
*110
130
*15
154
*60
63 4
8 3 8 ^ 38*5
§10141014
55
56%
*78
95
19 4 1 9 4
*139 140
194 ^0
*76
764
ei> * e i A
* ......... 80
* 1 4 6 170
* 9 2 4 95
168
168 4
*18
194
83 4 83%
*50 4 5 2 4
*48
51
*82
85
614 014
67 34 67 34
* 1 1 3 4 .........
144 144
*84
8S
7 8 4 784
10 2

M
►
>
td
O
»
M

Kj
•

'0

•
0
•
•
•
f
C
0
0

a
•
0

ta
*
•
0
0

•
•
•
•
•
•

10 2

*142 144
* 9 2 4 93
•••••«- •*•••*
*904 914
*144 154
55
55
534 534
* 9 6 4 98
2 50 2 5 0 4
*64
55
*100 104
29 4 30 4
9 9 34 99%
*764 784
*106 1 1 2
*166 161
*76
84

0
0

•
0

•
0

•
•
0

•
9•p
0

0
1

«t

1

* 4 7 4 48
*90
92
§133 135
*75
78
3 4 4 34 4
*74 4 76%
454 454
1084 1084
*77
80
46 4 46%
1 0 6 4 i07°8
39
o9
*109 110
*45
464
*2 9 0 300
9 1 34 91%
152 152
* ..................... 182

W ednesday
Sept 5

Thursday
Sept 6
115

E rid ay
Sept 7

l l S ^ *114

Sates o>
Ike
Week
Shares

Range tor Year 7.906
Lowest

H ighest

hange ror F resiou i
Van',’ riUfiri )
Loujest

I H ighest

681 lO * % J ’ly
122% Jan 22 105 Jan 122 % A p r
T w in C ity R a p id T r a n s it.
§153% Ma> 160 J ' iks
D o p re f
194% | f m o n P a c ific .................... 856,701 138% May 2 jih 5 % S e p 4 113 Jan 151% D ec
192 4 194 4 . 192
1 9 0 34 1 9 5 4 1 8 9 4 193
9 1 % .May 2 1 99% Jan 2 95 % No\ ! 101% Feb
94 4 95
94
94*4 *93% 95
68(
vJ D o p r e i..........................
94 4 94 4
3,095 5n A p r 20 , 98 J a n 18 21 4 J an 92 % D e c
65
65
65 4 6 6 4
66
6 6 4 U n itR y s I ij v ’ t o f Sun Fran
64 4 64 4
3,375 55 A p r 20 1 93% Jan 17 64% Jan 94 % D ec
744 754
Do nreX...................... _
73
74 4
744 754
$734 734
84 % A pr 19 1 87% Jan 13 80 J ’ ly 85 Nov
U n ited R y s o f S t L ou. prei
2,4<>< 18% Ji y 12 j 2 6 % J a n 24
17% May 24 % Sep
20
20 4
20 4 204
20 4 2 0 4
19% 20 4 Y V /a b a s h ..............................
1,50< 40 % J an 3 53% Feb '7
4 4 4 444
37 May 48
Feb
45
45
45
454
44
44 4
» v Do p r e r ........................
......... 32 J a n 3 4 4 % I’ ne 4 27 N ov 30 D ec
4 35 4 36
•35 4 3 7 4 *35 4 37 4 W e ste r n M ar y 1 an* 1 ...........
*35 4 38
1,400 16 A p r 28 21% Feb 6
18
18 4
1 8 4 1 8 7e * 1 8 4 19
15 May 19% Mar
*18
19
W h e e : 1ug
L a k e E r ie . . .
36 May 2 4 8 % F eb 6 36 May 48 Feb
100
*39
41
’ 39
42
*39
41
* 39
4i
D o i s t p r e f ...................
33t 22 A p r 2 7 29 % F eb 6 20 May 2 8 % M ai
*23
25
25
*23 4 25
D o 2 d o r e l ...................
23 4 23 4 *23
445 23 M ay 2 33 Jan 17 , 20 A p r 33 % -Vug
25
25
2 5 4 25 4
24 4 2 4 4
V?u>consin C e n tr a l.............
*25 4 26 4
44 J ’ly 2 64 Jan 15 45 Jan
1,10 0
64% O ct
5 1 4 5 1 4 * 5 0 4 52
5 1 4 51%
61 4 514
I n d u s t r ia l 6c V lisce li
§210 J ’ n e l4 '3 0 0 A ug27 §236 Jan §250 F eb
*275
......... •275
......... *275
.......... A dam s E x p re ss
1,600 16 J ’ly 3 27% Jan 24
13 May 24% D e c
19% 19% ^ in s-O h a lin e r s ...............
19 4 1 9 4 * 1 8 4 19 0.
1 8 4 19 4
J ’ Jy 17 67 Jan 24 46 % May GS F eb
2 0 o 45
48
48
45% 4~.%
Do
p r e f ........................
*47 4 4 8 4 *45 4 4 8 4
1114113
636,41 0 92% J ’ly 13 118% F e b 13 70 Jan 111% D ec
1 1 1 4 1 1 3 % A m a lg a m a ted C o p p e r.
1 0 9 4 1114 1 0 8 4 1 U 4
* 2 3 78 25
1,410 20 J ’ly 3 34 % Jan 2 < 2 0
Jan 29% A p r
25
25
A m e r> i.£ ricn lt C h e m ica l.
*24 4 25
*23 4 25
93 A p r 23 1 0 1 J a n 25 89% F eb 95 A ug
*94 .........
*93 4 1 0 2
*93 ......... *9 4 102
Do
n ref
2 0 % M ay 2 35 Jan 6 23 N ov 35
*22
23
D ec
100
2 14
*V-2 % 23 4 A m e r B e e t S u g a r ...............
*22
23 4 * 2 2
84 4 A u g 2 < 8 9 % Jan 8 77 Jan 89 D e c
*83
88
*83
88
*83
88
*83
88
D o p r e f..
7,700 32% J ’l y 13 47 % J an 24 31 May 43% A p r
39 4 39 4
40
41
39% 40 4
4 0 4 40%
A m e rica n C ar & F o u n d ry
710 9 8 % J ’ly 13 105 J an 24 #91 % J an 104% A p r
10 1% 10 2
10 1
10 1
D o p r e i..........................
§ 1 0 0 4 1 0 0 4 1 0 1 34 102
1,2 0 0
28 May 2 4 4 % J a n 11 27% J ’ Jy 40% D ec
32
32 4
3 1 4 31% *31% 3 2 4 A m o rica h C otton O il........
3 1 4 32
90% J ’ ne20 95 J a n 10 89% J ’ ly 97
t eb
93
9 3 4 *90
*90
93
*92
93 4 *92
D o p r e f ...
*255 262
§262 262
190 2 i o A p r 2 6 272 A u g 30 §209% Jan 246 F e b
*252 262 A m e rica n E x p r e s s .............
262 262
7% -day 2 11% Jan 15
200
*8
94
*8
94
8%
8 % A m e rica n G ra ss T w in e ..
4% Aug 14 Jan
*8
94
6
J ’ n e l3 10 J an 26
700
64
6 4
*6 4
7
6
J ’ ne 11% D ec
*64
7
6 4
6 4 A m er H id e & L e a th e r ___
55% M ai
30
30 4
2 9% 29%
1,300 27 J ’ ne26 43 Jan 25 29% O ct
*29
31
D e p r e f ..........................
2 9 4 29 4
81% 83
83
83% A m erica'n I c e S e c u r itie s . 28,000 35% J an 2 So 7« Sep 7 24% J ’ ly 36 D ec
7 9 4 80 4
804
8 14
17% May 7 29% Jan 22 15 % J an 23
Dec
*19
21
*19
21
*19
21
*19
21
A m e rica n L in se e d
3 8 % M ay 4 53% J an 20 36 Jan 48% A p r
*40
4 2 ^ *39 4 42 4 * 4 1 4 4 3 4 *38% 43
D o p r e f..........................
7 0 4 72
7 U j 72 ^
7 1 % 72% A m e rica n l o c o m o t i v e . .. 16,100 53% M ay 2 78% J a n 4 33 Jan 76% D e c
7 1 4 72 4
300 110% M ay 2 120% J a n l 6 L03% Jan 122% A p r
114 114
113 4 113 4 *113 1 1 3 4 *112 4 1 1 3 ^
D o p r e f..........................
4 J ’ ne29
.
6 % A pr 0
*4
5
5 D ec
5 % N ov
*4
5
*4
5 A m er. M alt. ctfs. o f d e p ...
44
44
25 J an 8 29% A pr 5 24% D e c 26 N ov
274
1,0 0 0
27
2 7 4 *27
2 7 4 *27
D o p ref. ctfs. o f d e p ..
27 4 2 7 4
23% A u g 6 54% A p r 16
*25
85
*25
35
*26
30
*2 6
32 A m e r P n e u m a tic S e r v ic e
60 A u g 7 8 b % A p r 12
*55
70
*55
70
D o prof
*60
70
*6 0
70
96 A u g 2 9 101% Jan 18 97% Sep 1 0 2
N ov
*95
97
98 A m e r S m elters S e c p r e f B
*95
98
9 6 4 9 6 4 *96
10 0
1 5 1 4 1 5 8 4 150 1 5 4 b8 152 4 1 5 4 4 1 5 2 % 1 5 4
A m er. S m e lt’ gcfc R e fin ’ g. 203,000 138 % M a j 2 174 Jan 18 79% Jan 170% D e c
i,30u 114 J n e 2 8 130 J an 12 111% Jan 137 D ec
1164117
D o p r e f..........................
1 1 6 4 117 4 1 1 6 4 116 4 1 1 6 4 117
*200 240
§220
220
*2 0 0 240
*200 240
50 2 0 O J ’ ly 6 220 J an 25 163 May 250 N ov
A m e rica n Snurt..................
Iu 2 % M a y 3 107 Jan 2 6
*102
110
*10 2
110
*1 0 2
HO
*10 2
HO
99 Jan 110 D ec
D o p r e f..
18% M ar
11
11
1,600 10 A p r 30 15% J an 17
11
1 1 4
6 % J ’ ly
104 104
U 3g 1 1 % A m e rica n S te e l F o n n d r ’ s.
43 4 44
44
45 4
3,550 40 M ay 2 5 3 % Jan 17 35 % J ’ ne 67% A p r
D o p r e f..........................
4 3 4 43 4
45 4 4 6 4
1 3 5 4 1 3 7 4 1 3 5 4 1 3 6 4 1 3 6 4 1 3 7 4 1 3 6 % 1 3 7 % A m e r ic a n S u g a r R efin in g 13,000 1 2 7 % May 2 157 J a n 8 130 May 154% D ec
132 % A p r 30 140 J a n 19 133 iSlay 141 A ag
*135
140
*135
140
*135 140
*135 140
D o p r e f..........................
J ’ i y l S 144% J a n 19 131 D ec 148 % J an
*125 135
*125 135
135 1 3 5 4 *134 140 A m er. T e le p h . <fc T e l e g . ..
2 0 0 130
10 0
10 0
10 0 4
7 0 0 96 J ’ly 3 109 J an 22, 91% Jan 109% D e c
* 10 0 4 10 1
1004 1004 10 0
A m er. T o b a c . (n e w ), p ref.
354 36
36 4 37
1,900 32 J ’ne30 48 J an 6 20% Jan 47 % N ov
35 4 3 5 4
3 6 4 3 6 4 A m e r ic a n W o o le n .............
J ’ ly 13 110% J a n 24 93 Jan 1,08 % M ar
104 104
*103 1 0 4 4 1 0 3 4 1 0 4
1 , 1 2 0 101
D o p r e f..........................
1 0 3 4 1044
2 8 O 2824
275 4 2 8 1 4 274 4 281
278 4 282 4 A n a c o n d a C o p p e r............... 111,500 223% M ay 4 300 F e b 1J| 1 0 0 % 51 ay 295 D e c
115 A u g 29 178 J an 3; 175 D ec #215 F eb
*115
130
*115 130
*115 130
*115 130
L jr o o k iy n U n io n G a s ___
13% J ’ ly 9 2 1 % Ain: I F 1 0 % J an 22 % Dee
* 1 4 4 17
* 1 5 4 17
* 1 5 4 1 6 4 * 1 5 4 1 6 4 ID n in s w . D o c k & C. I m p ’ ;
40 A p r l b 70 Miiy 9 50 D e c Ou % J an
6 3 4 *5^
*52
6 3 4 *52
63 4 *50
6 3 4 B u t t e n c k C o ...
4,260 3 4 % J ’ly 3 49 % J a n 241 40 b ep 47 % O ct
38 4 39
38 4 38 4
3S
38 % / cen tral L e a t h e r .............
384 384
10 2
775 100 J ’ly 3 107% Jan 24, 102% N ov 105% N ov
102 4 1 0 2 4 1 0 2
p r e f .................... .
1 0 2 4 102 4 1 0 2 % 1 0 2 4 y j D o
644 564
554 564
5 6 % 56 % C olora d o F u e l & I r o n ___ 50,5u0 4 0 % May 2 83% J a n 26 38 May 59 Mar
5 3 4 55 4
85 J ’ ne29 112% Jan 29 80 Aug 105 .Mar
*80
95
*78
85
95
95
10 0
*90 100
D o p r e f..........................
19
194
194 194
1,800 17 M ay 2 26% J a n 31. 11% May 20 D e c
19% 19% Ool. & H o c k . C oal <fc Iron .
194 194
139 140
*139 140
3,900 130% A p r 27 181% J an 23 175 N ov 214 M ar
138 139
139 139
C on solid a ted Gas (N . Y .).
1,133 18% J ’ly 13 28 ^.pr 4
19 4 1 9 4 §1 9 % 19% C orn P r o d u c ts R e f g .........
19 4 1 9 4
194 2 0 4
*76
77
*76
77
249 74 *-2 M ay 2 85% A p r 2
D o p r e f ...
764 764
7 6 4 76%
4,600 51 Jan 30 6 0 % M ay 9i #34% Jan 5 4 % D ec
6 1 4 62
6 14
62
604 6 1 4
604 614
D istille rs S e c u r it’ s Corp.
81% J a n 8 87 % J a n 19 76 May- 89 % F eb
* ......... 8 0
* ......... 80
* ......... 80
* ........ 8 6
E le ctric S to ra g e B a tte ry .
138 J a n -4 199 J a n 22 60 Jan 145 N o v
*160 170
*155 170
*155 170
*160 169% F ed era l M in in g <fc S m e lt’ g
io u 91 J ’ iy 8 112% Jan 2 2
* 9 2 4 95
D o p r e f..........................
75 Jan 110 % N 0 v
96
‘ Uah 96*2
95 4 9 5 4 *94
167 169
166 4 1 6 7
167 168
2,300 160% J ’ly 18 181% 3 an 9 169 May 192 M ar
167 169
G en era l E le c t r ic .................
J ’ly 2 2 6 * 4 Jan 15
2 0 w 17
19
19
19
18 % J ’ne 25 ‘4 D ec
9 n te rn a tio n a l P a p e r ........
*1 8
19
1 8 4 1 8 4 *18
1,700 8 2 % M a r 16 90 Jan 13: 76 % F eb 8 8 % D e c
8 3 % 83% I D o p r e f..........................
82 4 82 4
834 834
834 834
48 J ’ ne30 # 95 J a n 29 48 O ct 100^ F eb
62 4 * 5 0 4 52 4 *6 0 % 52% In te rn a tio n a l P o w e r
*5 0 4 52 4 *50
47
49
*47
49
2,500 28 J a n l o 60 M ay 8
26 D e c 40% Feb
*47
49
In te r n a t S team P u m p ___
484 484
86
600 79 J a n 11 92 M ay 14 78% May 8 8 % A p r
8 5 4 8 5 4 *82
85 4 *82
85
85
D o p r e f............... ______
60 % 6 0 4
1,500 54% J ’ly 6 6 8 J a n 15 10 Jan 63 De*?.
614 614
61
6 L4
6 H s 6 i>* K n ic k e r b o c k e r I c e ( C h ic;
67
67% * 6 5 4 6 7 4
[^ ration al B is c u it.............
500 62 M ay 2 71% F e b 6 5 2 A u g 69 % D e c
67
67
674 674
113*2 J a n 5 118% F eb 10 110 A u g 120% M ar
*113 4
4 a D o p r e f ...
* 1 1 3 4 ......... *113 H 3 4 * 1 1 3 4 .
*14
15
300 12 M ay - 1 8 % J an 15 11 A u g 31 % A p r
14 4 14 4 * 1 4 4 16
15
15 N a t E n a m e h n g & S ta m p ’ g
84 A u g 2 5 8 8 4 M ar 8 80 A u g 94 A p r
*84
86
*83
88
*83
88
*83
85
Do
p r e f ________
76
78
7 ,lu 0 6 6 M ay 2 95% J an 19 24% JaiT 89 *-2 D e c
78
78 ‘a
774 794
77% 78% N a tio n a l L e a d .....................
*102 102 4 1 0 1 4 1 0 1 4
D o p r e f..........................
400 100% J ’ n e 7 106% J a n 2 2
97% Jan 115 43 D ec
1 0 1 4 1 0 1 4 ♦1 0 1 % 1 0 2 %
2,400 133 J ’ly 12 163% J a n 5 140 May 168% N o v
141 1 4 4 4 140 140
140 1 4 4 4 1 4 4 4 144% N e w Y o r k A ir B r a k e ........
1,3U0 91% Sep 0 107 J an 12 95% N ov 107 A p r
93
93
32
93
N o rth A m e r ic a n Co., new
91% 9 1 78
*92 4 93
3?
39
3,500 28% J ’ ne29 51% J a n 19 33 May 53% D e c
38
38 4
37 4 38
3 7 3 4 3 9 3 4 O a c i ii e M a il........................
90
91
2,400 8 8 J ’ ly 13 103 Jan 2' 97% May 115% A p r
*9 0 4 914
9 0% 90% jl eop. Gas-L.<fc C. (C h ic.)
9 0 4 91
300 13% M ay 2 17% M ar31 1 2 % J ’ly 21 May
P itts b u r g h C oal C o ______
144 144
14 4 14 4
14 4 14 4 *1 4 % 15
*55
57
150 50 J ’ly 3 62 % J a n 19 45% J ’ly 80 % M ay
57
Do
p r e f ............... „ ......
*55
57
§ 5 6 4 5 6 4 *55
5,410 43 May 2 64% J a n 24 33 % Jan 58% D ec
5 3 4 54%
53 4 53%
54
5 4 % P re sse d S te e l C a r...............
53 4 5 3 4
D o u r e f..........................
25 95 M ay 2 105 F eb 1 87 F eb 1 0 1 % O ct
* 9 6 % 98
§97 4 97 4 * 9 6 4 9 7 4 *96 4 98
2,870 218 J ’ ly 9 2o2% Sep 4 230 May 258 A ug
248 2 5 2 4 247 4 249
249 250
250 250
P u llm a n C o m p a n y .............
1,600 4 4 M ay 2 62% J a n 15 30 May 63 % D e c
53 4 54 4
54% 54% |_> ail w a y S te e l S p r in g ...
* 5 3 4 5 4 4 *53% 5 4 4
97%. J ’ly 13 107 J a n 24 93 Jan 106 N o v
104 104
100
*98 4 104
* 9 8 4 104
*97% 103% JLVDo p r e f..........................
2 9 °s 3 0 4
R e p u b lic I r o n & S t e e l . . . 27,500 22% May 2 39 J a n 12 15 Jan 36% D ec
30 4 31%
31% 34
30 4 30 4
D o p r e f ..........................
5,500 91 M ay 2 H O ^ J a n 9; 67 Jan 108 D e c
9 * 4 100% 1 0 0 % 1 0 2
99 4 99 4
99 4 1 0 0 4
2,800 6 8 % J ’ ly 13 97 % J an 12 60 Jan 118% F eb
76 4 76%
77% 79 O lo ss-S h e lfte ld SL & Iron
77
774
76 4 7 7 4
106 J ’ly 6 113 A p r 3 100 Jan 130 F eb
O D o p r e f..........................
*105 112 4 *105 112
*106 1 1 2 4 *105
112
*155 160
300 129 J a n 2 r l 6 5 J a n 12 6 8 Jan 148 D e c
T en n . Coal, I r o n & R l t . . .
158 4 159% *158 161
156 156
60 May 2 8 6 % j ne 9' 37% J an 6 6
*82
83
D ec
*S0
83
*75
82
P exas P a c ific L a n d T ru st
*80
83
5 % Sep 7 1 5 1* J a n 19
15% O ct
3,925
8 % J’n e
74
8 4
8 4
8 4
5%
6 % | Tm o n B a g & P a p er
U D o p re i
2,255 54 ^>ep 7 84 J a n 18 6 8
Tan 82 D e c
69
69 4
64
62
67 4 69 4
6 9 4 70 4
400 4 3 % M ay 2 53 J an 17 19 % J an 48% D e c
U. S. C ast I. P ip e & F ou n .
47
47
4 7 4 4 7 4 * 4 6 4 4 7 4 *46% 4 ? 4
90 J ’ly 3 96% J an 24 7 9 % J an 97% A p r
*90
92
D o p r e f...................... .
*90
91
*90
92
*90
91 %
919 109 M ay 1 138% J a n 26 §110 D e c 134 F e b
135 § 1 3 5 % U n ited S ta tes E x p r e s s ...
1 3 4 4 1 3 4 4 1 3 4 4 1 3 4 4 135 135
75 A u g 18 94% J a n 2 0
U S R e a lty & Im p*rove’ nt
200
75.
75
*74
78
77 Jan 98 % M ar
*75
79
*74
78
24 M ar 1 4 0 % J ’n e 5 18 F eb 40% A p r
2 ,10 0
U S R e d u c tio n & R e tin’ g
*34
36
34
34
*34
354
35
37
1,700 60 M ar 22 84 J 'n e 6 35 Jan 73% A u g
74
75
Do
p r e i ........................
74% 7 5 4
74 4 74 4
74% 74%
4,300 38 J ’ly j.3 58% J an 22 33% J an 58% Sep
U n ited S ta tes R u b b e r ___
45 4 45%
45 4 4 5 ^
4 5 4 46
46
48
2,600 clO l^ J ’ly 13 r l l 5 J a n l o
D o 1st p r e f..................
108 4 1 0 8 4 10(5 4 108
1 0 6 4 108
96% J an 118% A p r
107 108
75 M ay 2 r87 % Jan 15 75 N ov 83% D e c
*7 7
89
*77
80
•77
80
Do
2d p r e f ....... ........
*77
80
46 4 47%
4 5 5s 46 4
4 6 4 47% 2 ; 16% 47% Un ite d S ta tes S te e l........... 491,420 32% J ’ ly 13 47% A u g 25 24% May 43 % D ec
38,300 98% J ’ly 3 113% J a n 2 0
D ec
90% May lo 7
107 108
D o p r e f.......................
1 0 6 4 1 0 7 4 106% 107% 106 % 107%
1,4U0 31 J ’ly 3 58 J a n 2 28% Sep 58% D e c
394 394
38
38% V irg in ia -C a ro lin a C h em ..
3 8 4 39 4 *3 8 4 39 4
J ’l y 3 117% J a n 2 103 % May 118% D eo
2 u0 104
*109 110
*109 l l u
D o p r e f..........................
109 4 * 1 0 9 4 109% 109 %
3S M ay 2 56% J an 24 36 J ’ne 5 2 % F eb
*42
46
46
*45
45% V irg in ia Ir o n C oal & C ..
- 4 5 4 4 6 4 *44
M ar 2 3 301 A u g 2 2 §226 % D e c 260 F e b
2 0 0 233
*290 300
\ \ f ells F a r g o & C o ........
293 293
292 292
1 ,0 0 4 - c91 M ar20 94% J an 26 92 Jan 95 % J'ne
914 914
91
91
91% 91% VY e s t’ n U n io n T e le ’ gpli
9 1 % 91%
W est’ g li’ se E lcfcM fg a sse n
80d 148 A u g 30 176 J an 5 152 May 184 Apr
*152 157
*145 157
154 154
155 156
D o I s t p r e f ...................
180 J ’ ne26 188 J a n 22 187% D e c L97 Ap*
* ..................... 1S2 1 * ......... 182
* ___ 182
* ..................... 182
115

•
•
•

20 %
45
38
19
41
25
26
61*2

Tuesday
Sept 4

STOCK>
N E W Y O R K STOCK
EXCHANGE

[Vol. lxxxiii .

0

9

•
•
»
•
V

1
•
•
•
0
t
9
«
0
*
»
a

1154

115

115 4

116

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
B anks
U n io n ExcliT!
U S E x c h a ’ ef;
W a s h .H ’ h tsI
W e s t S id e lj..
Y o rk v ille ^ ..

B id
210
125
225
600
400

A sk
220
130
......

B anks

B id

A sk

Trust Cos.

B id

A sk

Trust Co’s

B id

A sk

Trust Co’s

B id

A sk

Trust Co’s

B id

A sk

BROOKLYN
F ifth A v e T r 525
550
M u t. A llia n c e 205
215
BROOKLYN
F u lto n ........... 300 325
N Y L ife & T r 975
1010 B r o o k ly n T r 400 425
N. Y . CITY
N e w Y o r k T r 715
G u a ra n ty T r 500
525
730
C itizen s’ ........ 170 180
F irs t............... 390
270
B a n k e rs’ T r 500
G u ard ian T r 227%
S ta n d a rd T r’ t 410 440
F la t bu sh .
520
H o m e B a n k ‘d 160
B o w l’ gG reen 440
H u dson .
110
120
T itle G u ifc T r 590
605
F ra n k lin .
325 350
460
M a n n fa ctrs’ . 400 420
T r Co o f A m . 745
H a m ilto n ___ 335 350
B roa dw a yT r. 155 162% K n ic k ’ r b ’ k ’ r 1200
7 60
M ech a n ics^ ]. 290
U n ion T r u s t 1390 1410 H o m e ............. 185 193
295
305
C en tra l T r ’ st 2050 2150 L a w T I & T r 290
N a s s a n ......... 260
C olonial
200
275
L in c o ln T r ... 630
U S M tg & T r
44 5
650
J enkiDs
395
385
BROOKLYN
N a t C ity ....... 300
Km
Do
M anhattan
U n it States 11295
450
475
C olu m b ia
260
N o r th SidelL 350
400
V a n N ’ d en T r 300 330
M e r c a n t ile ..
850
L I s ! L sfeT r. 290 310
C o m m o n w ’ th
85
Borough^]___ 160
P r o s p e c tP k !; 150
165
E m p ire
M etrop olita n 575- 600
W a sh in g to n 400
N a s s a u _____ 265
310 3 ° 0
B r o a d w a y !.. 400
W i Tid anr
T e r m in a l___ 140
M orton T r n st
E q u ita b le T r
P e o p le ’ s
325 350
810
260
245
475
B r o o k ly n ' .. 145
155
U n i o n s .......... 230
W iliia m s b ’ g . 225 235
245
130
Farm Lo & T r
1425 M u t u a l......... 120
* B id am i ask ed p rice s; n o sales on th is day. § L e ss than 100 sh ares. 4 E x -r ig h ts . b N e w sto ck ,
c E x -d iv id e n d a n d righ ts.
T S ale at S to c k E x c h a n g e or a t a u c tio n th is w e e k . 0 E x s to c k d iv id e n d 5 T r u s t Co. ce rtifica te s,
B a n k s m ark ed w ith a paragraph (!f) are State hanks.

New York Stock Exchange— Bond Record, Friday, W eekly and Yearly
O C C U P Y IN G
K O M IS
N . Y . STO CK E X C H A N G E
W e e s E n d in g S e p t 7
li. s . G o v e r n m e n t
XT S 2s co n so l re g is te r e d .<11930
XT S 2s con sol c o u p o n -----d 1930
TJ S 8s r e g is t e r e d ..............ArlOlS
U S 3s c o u p o n ..................... A:1918
U S 3s re g sm all b o n d s .. Arl 918
XJ S 3s co u sm all b o n d s ../c l918
XJ S 4s r e g is te r e d ..............A1907
TJ S 4s c o u p o n .................... 7*1997
X7 S 4s re g iste re d ........ —...1 9 2 5
U S 4s c o u p o n ....................... 1925
P h ilip p in e is la n d s X s.1914-34
F o r e ig n G o v e r n m e n t
J ap an ese G o v t 6s s te rl’ g-1 9 1 1
2d series 6 s............- .......... 1911
£ loan 4 4 s ctfs fu ll p d . 1925
2d s e n e s 4 4 s c tfs fu ll paid.
£ loan 4s ctfs fu ll p a i d ..1931
B e p u b of C uba 5s e x te n d e b t ..
U S of M e x ic o s f g 5s o f 1899
G old 4s of 1 9 0 4 ................. 1954
S t a t e S e c u r it ie s
A la ba m a class A 4 to 5 ___ 1900
C lass B 5 s ______ ________ 1906
C lass C 4 s ............................1900
C u rre n cy fu n d in g 4 s ___ 1920
D ist of C olu m bia 3*65s___ 1924
L ou isia n a n e w con so l 4 s ..1914
N orth C arolin a co n s o l 4 s . 1910
6s............................................ 1919
S o C arolin a 4 4 s 2 0 -4 0 ........ 1933
T e n n n ew se ttle m e n t 3 s ..1 9 1 3
S m a l l ............................................
V ir g in ia fu n d d e b t 2 -3 S ...1 9 9 1
6s d e ferred B ro w n B ro s ctfs .

P r ic e

W e ek ? e

Friday
Sept 7

Range or
Last Sale

Rid
Q-J
Q-J
Q -F

Q-F

QF

Q-F
Q -J
Q -J

Q-F
Q-F
Q-F

1054
1054
104
Sale

103 4
1024
1034
131
131
109

103
104
132
132

104
104%
103 4
103 4
107
104 4
1034
1034
131 4
1314
111

I I

Range
Since
January 1

P l y ’ 06
A u g ’06
A u g ’ 06
103 4
J ’ n e ’ 02
O ct ’ 05
A u g '0 0
A u g ’ 06
A u g ’ 06
A u g ’ 06
M ay’ 06

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

1034104 4
103
104%
102*, 103%
2 1024104%

—
i ’0’3 ”
102%
129
129*8
108*4

i0 3 %
104%
1314
132%
111

Sale 100
1 0 0 4 98 96%
36 97%
100
Sale
994
Sale
9 1 4 147 9 0 4
914
Sale
90% 44 89 4
904
Sale
82 4
8 2 4 72 82
19 1 0 1 4
Sale 1 0 1 4 102
1 0 0 4 99 4 A u g ’ 06 .. . 98%
Sale
94
9 4 4 43 92%
h e se a re pr ices o n the 0 0-91* of $5

1014
101 %
95%
93%
88
108
1014
96
to <£.

....
....
....
—

1004
1100
t 914
t 90 4
t 82 4
4102
4 934
94

104
116
101
1014
964
S5 ........
9 4 4 Sale
. . . . . . 28

PAGES
BONDS

N. Y . STO CK E X C H A N G E
W e e k E n d in g S e p t 7

«o

-i|
- »
%j

101 A p r *06
1 0 9 4 O ct ’ 00
1 0 2 4 M a r ’ 02
111 M a r’ 02
1 1 7 4 J ’ n e ’ 06
1 0 5 4 D e c ’ 04
101 J ’ l y ’ 06
122 J ’ n e’ 06
120 M a r’ 00
9 6 4 A u g ’ 06
9 5 4 D e c ’ 04
94 4
944
244
244

....
....

100% 101

1174118

•••• 101
— 122

101
122

....

95%

96%

9
1

94*4
20

96%
29 4

^

R a ilr o a d
labam a C en t See So R y
la b a M idl See A t C oast L in e
A lb a n y <fc Susa See D el & H ud
A lle g h e n y V a lle y See P enn R R
A lle g & W e st See B u ll R & P
*1
934- 9 0 4 A u g ’ 06
A n n A r b o r l s t g 4 s ..........7il995 Q-J
1 0 2 4 256
A toll T & S F e— G en g 4 8 .1 9 9 5 A -0 101*4 Sale 1 0 1 4
1 0 3 4 P l y ’ 06
R e g iste r e d ........ ..................1995 A-O
J-D
108 Sale 1 0 7 4
109 2401
C o n v g 4 s .... .......................1955
1074
1 0 7 4 60
W a rra n ts fo r 50-yr co n v 4 s ..
96 4
9 6 4 19
9 6 4 Sale
A d ju stm e n t g 4 s ........... A1995 N ov
95 Sep ’ 05
92
R e g is t e r e d ................... ?il9 9 5 Nov
8
934
92*8 9 3 4 93
S t a m p e d ......................&1995 M-N
99 ^
9 9 4 M a y’ 05
D e b e n tu re s 4s S e r ie s E . 1907 F-A
__
9 8 4 A p r ’ 06
984
S e n e s F ............................ 1908 F-A
100 4 J a n ’ 06 —
96 4
S e n e s G ............................ 1909 F-A
952%
9 9 4 J a n ’ 05
S e n e s H ........................... 1910 F-A
94
9 8 4 N o v ’ 0-1
S e n e s I . . . —.................... 1911 F-A
9
1
4
97 O ct ’ 04
S eries K ........................... 1913 F-A
934
9 5 4 A u g ’ 06 —
E ast O kia D iv 1 st g 4 s .. 1928 M - S
A ti K n o x & N See L A N
9 8 4 Sale
984
9 9 4 20
A tla n tic C oast 1st g 4 s.7 il9 5 2 M -S
d ia r i e s & S av 1st g 7 s ..1 9 3 6 J-J 1 4 9 4 ........
S ay F
W J s t g old 6 s .. 1934 A -0 1 2 9 % ........ 1 3 2 4 J a n ’ 06 ....
1 st g old 5 s ............. ^ ....1 9 3 4 A -0 1 1 4 4 ........ 1 1 2 4 J a n ’ 04
A la M id 1st gu g o ld 5s ..1 9 2 8 M-N 1 .1 1 4 ........ 1 1 4 4 N o v ’ 05
99 4 M a r’ 06 ___
B ru n s 6c W 1 st g u g 4s ..1 9 3 8 i l l
tFI%
9T4
9 1 4 92
1
L 6c X c o ll g 4 s ...............o l ? 5 2 M-N
9 6 4 98
9 7 4 A u g ’ 06 —
S il Sp O ca & G gu g 4 s ..1 9 1 8 J -J
A tla n tic & D a n v See S ou th R y
A u stin 6c N W See S ou P a cific
93
94
60
93 Sale
ait & O h io p rio r 1 g 3 4 s . 1925
^ 95 J ’ n e ’ 06
R e g is te r e d ........... ...A 1 9 2 5
1 0 3 4 103 4 45
(Sold 4 s ........................ .....7il94 8 A -0 1 0 2 4 1 0 3
1 0 2 4 J ’ly *06
R e g is t e r e d .................. Til 9^8 y -J
90 .......
91 J ’ n e ’ 06 ....
P J u n & M D iv 1 st g 3 4S 1925 M-N
7
9 8 4 Sale
98 4
984
P L E < fc W V a S ys r e f 4 s l9 4 1 M-N
24
904
8 9 4 9 0 4 $0
S o u th w D iv 1st g 3 4 s . . .1 9 2 5 J -J
9 2 % J ’ n e ’ 05
R e g is t e r e d ......... .........7&1925
108 4 J ’l y ’ 05
107
M on on R iv 1 st g u g 5 s . . 1919 n
109 A p r r0 o
Oen O h io R 1 st c g 4 4 s . . l 9 3 0 M-S
1 1 9 4 M a r’ 04 ___
P iu s C le v 6c T o l 1 st g 6s 1922 A -O
96
95 A u g ’ 06
P itts & W e st 1 st g 4 s . . . 1917 J -J
B a t C reek 6c S See M ich Cent
B eech C reek See N Y C & M
R e lle v 6c Car See Illin o is Cent
B k iy n & M on ta u k See L o n g I
iJjruns & W est See A t l C oast L
B u ffa lo N Y & E rie See
M-S 117
B ufialo R & P treu g
119% P l y ’ 06
1 0 1 4 A u g ’ 06
A U & W eat4r;trg 0 ^ . 1 9 9 8 A-O
103 A p r * 9 j
Cl & M ali 1st g u g 5 s ___ 1943 J-J i l 3
R ocli & P itts 1st g 6 s . . .1921 F-A
124 A p r T n
C on sol 1st g 6 s ............. 1922 J -D
B u fialo
s o u th w e s t See Erie
95 •:
B u ff & Susq 1st ref g 4s^71951 J -J
9 5 4 J ’ l y ’ 06 —
B u r C K d: X See C R I & P
J*J
'-anada S ou th 1 st 5 s .* ...1 9 0 8
1 0 0 4 28
1 0 0 4 sa__
le . 0 0 4
5 3 . ; . . ........................... 1913 M-S
104 4 1 0 6 4 A u g ’ 06
M-S
— F tegistered.*^................. 1913
105
1 0 5 4 J a n ’ 06 ....
Carb 6c Sh aw n See 111 Cent
Carolina C ent See Seab A ir L
C arthage 6c A d See N Y C < fe H
C e d R la F A N
6<*B C R & N
Cen B ran ch U P 1 st g 4 s . . . 1948 J -18
92
90 A u g ’ 06
Cen B ra n ch R y See M o P a c
F
-A
....
C en t of G a R R 1st g 5 a ..p l9 4 5
119
1174123
C on sol gold 5 s...................1945 M-N 1 1 0 4 Sale 110 4
5
111
M-N
R e g is te r e d ...................... 1945
.p r ’ O
113
Oct
1 st p ref in com e g 5 s___ p l9 4 5
98 Sale
ii
98
98
2d p re f in co m e g 5 s ___ p l9 4 5 O ct | 8 8 4 90
89
3d p ref in com e g 5a___ p i 945 o c t
87
8 7 4 87 4
C hatt D iv p u r m o n g 4 s .1951 J-D
....
9 0 .......... 93
M a c 6c N o r D iv l e t g o s . 1946 J-J
108 4 ......... 1 1 5 4
M id Ga 6c A tl D iv 5a___ 1947! J - J
v ’ 0 5 ___
108 4 .......... 115 N o_____
A r
M o b ile D iv 1st c o s ........19461 J-J
___
1 0 8 4 ......... 1 1 5 4

A

B

C

a

90
99
100 104 4
994103 4
100% 109
100*8 108%
91
97%
91

97

98*4 98%
10041004

95% 1014
9841024
132% 132%
994
90
95%
93
93

m

994
95 4
994
97%
96

* m

90%
95%
89%

95

92
99*8
93

ib o

11641194
10141014
124
127
954

124
128 4
994

100*8 103
105 108%
105% 105%

90

95

119 121
109 % 1 1 4 4
113 113
93% 99
8 0 4 93
7 5 4 91
93
944

i

IU 1 S C E L L A N E O IJ 8

____

P r ic e
F rid a y
S ept 7

Rid

Utah No lx>w High

Ask Low

1044
105
103 4
103 4

i-B

FOUR

Cen R R Sc B o f G a col g 58 1937
Cent of N J g e n ’ l g o l d 5 s . 1987
R e g is t e r e d ................... 7&1987
A m D o ck A Im p gu 5 s .. 1921
L e A H ud R gen gu g 5a 1920
L eh A W ilk s B C oal 5 s ..1 91 2
Con e x t gu a r 4 4 s ----- <71910
N Y A L o n g B r g e n g 4s 1941
C ent P a c ific See S o P a cific Co
Chaa A S a v See A tl C oast L in e
C hes A O hio g 6s ser A ..7 t l9 0 8
G old 6 s ................................a l9 1 1
1st co n so l g o s ................... 1939
R e g is te r e d .......................1939
G en eral g old 4 4 s .............. 1992
R e g is te r e d ....................... 1992
C ra ig V a lle y 1 st g 5 s -----1940
R A A D iv 1 st c o n g 4 s . . 1989
2d co n so l g 4 s ..................1989
W arm Spr V a l 1 st g 5 s .. 1941
G r e e n b r io r R y 1 st g u g 4s ’ 40
I n c A A lt R R re f g 3 s . ..1 9 4 9
Railway 1 st lien 3 4 s . . . 1950
R e g iste r e d ....................... 1950
'hie B u rl A Q— D e n v D 4s 1922
Illin o is D iv 3 4 s ................1949
R e g is te r e d ....................... 1949
G old 4 s .............................. 1949
Io w a D iv sin k fu n d 5 s .. 1919
S in k in g fu n d 4 s .............. 1919
N e b r a sk a E x te n s io n 4 s .1927
R e g iste re d ....................... 1927
S ou th w estern D iv 4 s ___ 1921
J o in t b on d s See G re a t N ortli
D e b e n tu re o s ..................... 1913
H a n A S t J o s co n s o l 6 s .. 1911
h ie A E 111 r e f A im p g 4s 1956
1 st 8 f cu r 6 s ..................... 1907
1st co n so l g 6 s....................1934
G en eral co n s o l 1 st 5 s___ 1937
R e g is te r e d ....................... 1937
C hic A i n d C R y 1 st 5 s .1936
h ic a g o A E r ie See E rie
hie In A L o u is v r e f 6 s . . . 1947
R e fu n d in g g o ld 5 s ........... 1 9 4 7
L o u isv N A A Cli 1 st 6 s. 1910
h ic M il A St P te r m g 5 s 1914
G en era l g 4s se rie s A _ _ e l9 8 9
R e g iste r e d ..................... e l9 8 9
G e n e r a lg 3 4 s se rie s B .^1989
C h ic A L Su D iv g 5 s ___ 1921
C h ic A M o R iv D iv 5 s . ..1 9 2 6 :
C h ic A P a c D iv 6 s ............1910
C h ic A P W 1 st g 5 s........ 1921
D a k A G t So g 5 s ............. 1916
F a r A Sou a ssu g 6 s ........ 1924
H a st A D D iv 1 st 7 s ........1910
1st 5 s ..................................1910
I A D E x te n 1 st 7 s ..........190S
L a C rosse & D 1 st 5 s ___ 1919
M in e ra l P o in t D iv 5 s ___ 1910
So M in n D iv 1 st 6 s ..........1910
S o u th w e st D iv 1 st 6 s ___ 1909
W is & M in n D iv g 5 s ___ 1921
M il & N o 1st M L 6 s . . ..1 9 1 0
1 st co n s o l 6 s . . . .............. 1913

A sk Low

M-N * 10634 .........
J -J 12 0 14 128
Q -J 124 .........
J -J
1 0 8 4 .........
104 4 .........
J -J
M-N
Q-M 1 0 0 4 1 0 0 ^
M-S
A -0 104 .........
A -0 1 0 7 4 .........
M-N 117 1 1 7 4
M-N ......... 116
M-S 1 0 3 4 1 0 4 4
M-S
J -J
J -J 100
95 100 4
J -J
M-S
M-N
A-O
80 4
77 Sale
J -J
J -J
99 4
F-A
914
J -J
J -J
102 4 Sale
J -J
A -O *106 ..........
.........
A -O 101
M-N 102 4 10 2*4
M-N
98
M-S
104
106;

M-N
M-S
J -J
J -D
A -O
M-N
M-N
J -J

102*4 Sale
1 3 1 4 ........
117 ........

J -J
J -J
J -J
J -J
J -J

129 ..........
1 1 2 4 ..........
105 4 .........
1 0 6 4 _____
107 78 108 4

n

W eek ’s
R a n ge or
L a s t S a le

£^ ~
p0

Range
Since
January 1

High No Low High

10S‘»4 Aim’05

12 6 4
12 6 l<j ’ 3 1254 132
127 A u g ’ 06
125 4 1314
1 1 2 34 M ay’ 06
1124113
102
102

102

M a r’ 06
J ’l y ’ 06

102 4

1024

100

1044 1044
107 M ay’06
117 A u g ’ 06
116 J ’ n e’ 06
103 7g 104 4
104 M ay’ 06
112 F e b ’06
100*4 J ’ly ’06
96*4 M ay’ 06
1 1 3 4 F e b ’ 05
99*4 F e b ’ 06
80 4
804
77
77
KO 4 M ay’ 05
1 0 2 4 J ’l y ’ 06
9L
91
9 6 4 F e b ’ 05
102 4
102 4
110 4 J a n ’ 05
101 A u g ’ 06
103 J ’l y ’ 06
104 4 M ay’ 06
100 J ’l y ’ 06

15 103 1064
107 1104
1164 1194
1 1 4 4 116
103 4 109
104 105

J’l y ’06
Aug’06
J’ne’06
102*4

102 4 107
1084112 4

1044
109*4
954
1024
132
117
1184
115

112 112
100*8 1024
964 96*4
99*4

99*4 102*8
91
954

101

1064

100

102*4

102*8 107
104 4 1044
98 100

944

96*4

102 4104*8
132 139

J ’l y ’ 06

117
Feb’06
J’l y ’06

1164120

11841184
11441184
1294137
1134 1144
107 1084
10841084
1054111

129 4 A u g ’ 06
1 1 4 4 J ’ n e ’ 06

107 4 J’ne’Oo

108 4 M a r’ 06

108 Aug’06
109 4 J’ne’U4
9 1 4 92 4 92 Aug’06

- j 1 0 9 * a ................... 1 1 5 4 O ct ’ 05
- j 1 1 2 4 ......... 115*4 J ’ n e’ 06
- j 104 ......... 108 A pr’06
- j 1 1 1 4 1 1 2 4 1114 Aug’06
110 J’ne’06
-j
137 4 J’ly ’99
-j
113 J’ne’06
- j 108
106 Aug’04
-j 1 0 1 4
182 4 A pr’06
-j
1114 May’06
- j 108 4
106*8 Apr’05
- j 101*8
- j 105 4 Sale 1054 105 4
1044 May’06
-j 1034
112*4 Apr’06
- j 1094
106 A u g ’ 06
J -D 105*8
J -D 109 78
.115 FfcU’06
12V«8 J ’ly f06
Q -F
994
1 0 2 4 J ’l y ’ 06
E x te n s io n 4 s .......... 188 6-1926 F-A .
101 J ’l y ’ 06
R e g is te r e d ............ 1886-1926 F -A
97 A u g ’ 06
97
G en eral g o ld 3 4 s _______ 1987 M-N
...• 96
103 N o v ’ 98
R e g is t e r e d ................... £>1987 Q -F
113 J ’ n e ’ 06
A -O
S in k in g fu n d 6 3 ...1 8
1 1 4 4 F e b ’ 06
R e g is te r e d ........... 1879-1929 A -O
109
109
S in k in g fu n d 5 s . . .1 8 7 9 -1 9 2 9 A -O 109
107 4 J ’ n e ’ 06
R e g is te r e d ........... 1 87 9-19 29 A -O
102*4 J ’ l y ’ 06
D e b e n tu re 5 s ..................... 1909 M-N 1 0 2 4 1 0 3
104 Mar’04
R e g is te r e d ....................... 1909 M-N
105 4 J’ly ’06
D e b e n tu re 5 s ........... ......... 1921 A - 0
1054
1084 Jan’04
.R e g is t e r e d ..
..*.**.^
^*>19.21 A
113 Aug’06
114
S in k in g fu n d deb 5 s........ 1933 M-N
117 Feb’06
R e g iste r e d ....................... 1933 M-N
D es M o & M in n 1 st 7 s ..1 90 7 F-A
1054 D ec’05
N o rth Illin o is 1 st 5 s ___ 1910 M-S
104 D ec’05
O tt C F & St P a u l 1 st 5s 1909 M-S
1024 J’ ne’06
W in o n a & S t P e t 2d 7 s .. 1907 M-N
1234 Aug’06
M il L S & W e s t 1st g 6s 1921 M-N 1234
E x t & Im p s fu n d g 5s 1929 F-A 114
117*8 J’ne’06
1424 Feb’02
A sh la n d D iv 1 st g 6 s .. 1925 M-S 122 4
128 4 Feb’06
M ich D iv 1 st g 6 s..........1924 J -J
C o n v e rtib le d eb 5 s . . . . 1907 F-A
105*8 sep ‘05
109 Sep ’03
I n c o m e s ...................
1911 M-N 100
1174 J’l y ’06
C h ic R o c k l s l 6c P a c 6 s . . .1 9 1 7 J -J 117 118
117
117 4 J’l y ’06
R e g is te r e d ......................1917 J -J
G en era l g o ld 4 s ..................1988 J-J 100 100*4 1004 100*8
R e g is te r e d .......................1988 J-J
........1004 100 J’ly ’06
93*8 Sale
93 4
R e fu n d in g g 4 s ................1934 A - 0
93*4
96 ......... 97- P l y ’ 04
C oll tr u s t S e r ie s H 4 s ..1 9 1 0 M-N
M-N
J 4 s ................................... 1912
94 r . .2 _. 97*4 Dec ’05
4 ......... 96 N o v ’ Oo
M 4 s ................................... 1915 M-N
M-N
N 4 s ................................... 1916
9 0 * 4 ......... 93 May’04
90 ....... 89 4 May’06
M-N.
0 4 s .......................... ........
89 ......... 90 May’04
R 4 a ....................................1918 M-N
77 Sale 764
C h ic R I 6c P a c R R 4 s . .2 0 0 2 M-N
774
79 D ec’05
R e g is te r e d ...................... 2002 M N
90
C oll tr u s t g o ld 5 8.......... 1913 M-S
90 4 Sale
90 4
Bur Ced R 6c No 1 st 5 s .1906 J-D
102 4 May’ 06
Con 1st 6c coL t r g 5 s . . . 1934 A -0 117 4
117*4 J’ ly ’06
R e g iste r e d ....................1934 A -0
1 2 0 4 Mar’03
OR I F <& N W 1 st gu 5 s .1921 A-O 109 4
111 Nov’05
M 6c S t L 1 st g u g 7 8 ..1 9 2 7 J-D
C h oc Ok 6c G g e n g 5s .01919 J -J
105 4 Aug’06
C onsul gold 5 s ................1952 M-N 109
111 May’u6
K e o k 6c lie s M l 6 t 5 s ___ 1923 A-O H 0 9
1U9
Sale 109
C h ic s t l & N O See 111 C en t

99*4

79
82 4
76*4 82

92

j
j
j
j
j
j
j
j
j
j
j
j
j
j

97

115*4 1184
107 4108 4
1114115
1074110%
111*8 113

18241824
11141134
105 1084
L0 44 1064
112*4 115%
106 108*4
115 115
I2~24 I2B

102 4 105 4
L01

96

102

1004

L13 113
11441144
108 4 1 0 9 * 4
10741074
102*4 1 0 4 4
105 4 1 1 2 %

113
117

117
117

102 4 1 0 2 4
122 4 1 2 6 4
1174118

L28 4 1284
117 4 120*8
1174 1194
99 103%,
99 102
29 92*4 #7
15

128

89 4

894

75%

814

88%

93

...-I 1 00% 1 0 2 4

117% 119%
__ I 105

1064

...J ill
1 108

ill
H l^

K O M I '-— C o n tin u e d on N e x t P a jje .

Street Railw ay
Street R ailw ay
Brooklyn Rap Tr g 5s.......1945 A-O 105 106 105 Aug’06
104% 309
Met St Ry gen col tr g 5s. 1997 F-A 108% 110%
1st refund cody \l 4h.. 2002 J-J
Ref g 4a.......................... 2002 A-O 844 86
94% Sale 93 4
94 4 74 92 100
BkCity 1st con 5s.1916.1941 J-J 103% 106 107 Pne’06
Bway 6c 7th Av la tcg 5 s 1943 J-D 110 Sale
106 107
Bk Co tte S Cou gu g 58.1941 M-N
100 104
Col 6c 9th A v lstg u g 58.1993 M-S 112 115
LOO J’ne’ 06
Bkiyn Un El 1st g 4-58.1950 F-A 1064 Sale 106*8 106 4 *25! 105 4113 %
l* x A v 6c P F lstgu gos 1993 M-S 1 1 1 4 ........
Stamped i:uar 4-os__ 1950 F-A
'J hirdAve It It con gu 4s 2000 J-J
110 Feb’ 06 __ 1 1 0 n o
91*a Sale
Kings Co El 1st g 4s__ 1949 F-A
90
95
Third Ave Ry 1st g 5s..1937 J-J 114 4 116 4
91 May’OG
Stamped guar 4h ........1949 F A
96 4
91
92
91 Aug’06 .. .1 89
Dd W S El (Chic) 1st g 48.1988 F-A 91*8........
Nassau Elec gu g 4 s__ 1961 J-J
86
89 4 dll El Ry 6c L 30-yr g 58.1926 F-A ____ i l l
85 Aug’06 —
85 4 86
Con 11 Ry 6c L 1at & ref g 4 4 s *51 J-J 102%........ 102 Mar’06
102 102
Minn St Ry 1st con g 5s.. 1919 J-J
Stamped t oar 4 4 s ........1951 J •J . . .. . . ..
10*2% A pr’06
N Ori Ry 6c Lt gen 44s ..1935 J-J + 90 ........
100*8 102
Dei: Coi: I t C o 1st g 5s...1933 V-O
->t J 0 Rv Lt HA P 1at tr r>a 1142*7 vr.N l n 1 u 1 n.i
Den Tram Co con g 6s..l9D J •J
.1.A *■
1)4
D e l United Is: con g 4 4a. 1932 J-J * 934 94
93 4
934 " 2 93% 96 4 Underground cf Lon 5s.. 1908 J-D
94 4 Sale
Havana Elec consol g 5s. 1952 F-A ........ 95
92% Aag'06 .... 92% 95% Union 1*9 (Chic) la tg 5 s..1945 A-O
Inter-Met coll 4 4 *...........I95t; A -0
84% Sale 84
1 4 % 33'.* 80% 90', United HRs Sail Frst 4s. 1.927 A -0
84 % 844
Louis Ky Co 1st cou e 5s.. 1931 J-J
109 Mar’V»8
United RysSt L 1st g 48.1954 J-J
Manila Elec 1st 6c coll 5s. 1953 M-S
914 984 98 May'06 1— ll
i w 1* W chic St 40-yr con g 5s: 1938 M-N .....................
* A 'o price FTnUy; latent price this week. aiiueJan tfJDuoApr e D ue Muy j / D u e J ’ ne /iDue J l y
[cD ue Aug oDueGot

1

1 1 08 4 U 7
108 4 108 4
83
92
84 Aug’06 —
1 110 116%
110
110
113 119 4
1164 Aug’06
116 Aug’06
112 4 1104
101 91
95 4
9 J%
92
1J54119
116 4 J’l y '06
93 4 93 4
93 4 J’ lV*06
109 J’l y ’Or .... 109 109
1074 1074
107 4 FoO’00
91 Aug’06 .... 89% 92%
..................
j 14 4 Nov’05
94%
944 18 93 4 98%
10 6 % J’ly ’ 06
90
H3
84*4 l i . I 71
85% 88 4
85*8 J’ly 06
99 Dec'9 7 -.••1
* j j u c N ov

8 U ption

550

New York Bond Record

i i •>.v
K . Y. S T O C K E X C H A N G E
W k e K K Nr>;n q S EPT 7

Wee/c’ s
Lange or
Last Sate

P r ice
h r id a n

Sept 7

Itanue

Since
o c
-Q '-c J an u ary 1

lin t
A s k Low
C h ic St L A P itt8 See Penn Cc
H i(fh A'o
C h ic S t P M & O con 6 s . . . 1930 J -I) ......... 1 3 1 18 131*8 J ’ ly TO
92 % ......... 93 D e c ’ 03
C on s 6s red u ced to 3 % s .l9 3 0 J -D
133 J ’ n e’ 06
<Jli S t P A M in n 1st g 6s 1918 Vl-N ......... 133
129*4 M ar t1 4
N o r W iscon sin 1st 6 s ...l9 3 < J -J
1 2 0 14
120H
S t P A S C ity 1 st g 6 S ...1 9 1 9 A •0 120
101 H> M ay’ Ot
-C hicago T e r T ra n s g 4 s . . .1 9 4 ./ J
9 9 78 .Miir’ OO
C ou p on o f i .................................
99*8
113
113S2 P n e T o
C h ic A W e st In d g en g 6s #1932 Q-M
C h ic A W M ich see F e re Marq
C h oc O A C u lt See C R 1 A P
113 Oct. *00
C ln H A D ‘2d g old 4 % s . . . 1937 J - J
107 A u g ’ 06
C in D A 1 1st gri g 5 s . . .1941 Sfl-N 108
C F in d A F t W l s t g u 4s u .T 3 .VI-N
91 M a r’06
C in i A W 1st g u g 4s_1953 J -J
C I S t L A O See C C C A S t L
C in S A C ibee C C C S t L
C iea rh eld A M ali See B R A P
101 Hz 29
C le y C in C A s t L g e n g 4s 1991 J-D 100 >3 1 0 1 Hi 101
LOO 100 ** 100
A u g ’ 06
C airo D tv 1st gold 4 s ___ 1939 J -J
Cin W A M D iv 1 st g 4 s . 1991 J -J .......... 9?34 98 A u g ’ 06
99*8 J ’ l y ’ 06
S t L D iv 1 st c o l tr g 4 s .. 1990 U-N ........ 100
100 O ct *04
R e g is te r e d ...................... 1990 VI- JV
99*4 F e b ’ 05
S p r A C ol D iv 1 st g 4 s .. 1940 M-S
96 A u g ’ 06
W W Vai D iv 1 st g 4 8 ...1 9 4 n J J ......... 100
C I S t L A 0 c o n s o l 6 s .. 1920 V!-K *105 H i___ 105 J an ’ 04
9 o c8 100
1 0 0 38 A n g’ 06
1 st g old 4 s .............. _ . . / c l 9 3 l Q-F
101 M a y ’ Of
R e g is t e r e d ................ /cl9 3 6 Q-F
110 Hi
113*4 J ’ u e’ Ot
C m S A Cl co n 1st g 5 s . .19 2 b J-J
11842 J ’l y ’ 06
C C C A 1 co n s o l 7 s ..........1914 J-D
C on sol sin k fu n d 7 s ___ 1914 J-D
134 F e b ’ 06
G en era l co n s o l gold 6s. 1934 J-J
R e g is te r e d ....................1934 J-J
104 Hi N o v ’ 01
103
In d B l A W 1st p ret 4 s . 1940 A -0
O Ind A W 1st pf 5s...(U.93<^ Q-J
99*4
99*4
P e o A E ast 1st con 4 s . ..l 9 4 i ) A- 0
99 Hi
73 k 7 3 Hz A u g ’ 06
In c o m e 4 s ......................... 1990 Vor
115 Hz M a r ’06
C l L o r A W h c o n 1st g 5 s . 1933 A-O 109*4
C le v A M arietta 6ee P e n n R K
112
^
2
116Hz J a n ’0.
C lev A M ahon V al g 5 s . ..1 9 3 8 J -J
C le v A P itts See P en n Co
74
1
C ol M id lan d 1 st g 4 s ......... 1947 J -J
74 Ha
74V
91* ‘ 91 L 91*8
9 1 7ft 24
C olorad o A S ou 1st g 4 s . . . 1929 F-A
C olum A G re e n v See So li y
C oi A H o ck Val See H o ck Vai
O ol A T o l See H o c k V a i
C oi C onn A T e r m See N A W
C onn A Pae R iv s 1st g 4 s. 1943 A- 0
>ak A G t So See C M A St P
Kailas A W a co See M K A 1
D ei L a ck A W e ste rn 7 s ...1 9 0 7M-S 103
1 0 4 78 A p r ’ 06
120 J ’n e ’ Ob
M o m s A E ssex 1 s t 7 s . ..1 9 1 4 Wl-N
121 J ’ l y ’ 06
1 st c o n s o l g u a r 7 s ........1915 J-D 121^8
127 J ’ n e'05
R e g is te r e d ....................1915 J-D
1 st r e f g u g 3 % s........... 200o J-D
126*8 M a r’ 06
N Y L ack A W 1st 6 s . .. 1921 J -J
108*2 A u g ’ 06
C on stru ctio n 5 s ........... 1923 F-A 108*4
T erm A im p ro v e 4 s ___ 1923 Wl-N 102*8
l 0 2 ah A u g ’ 06
10 - C8 A u g ’ 06
S y r B in g A N Y 1 st 7 s ..1 9 0 6 A O 103
102 F e b ’ 03
W a rren 1st r e f g u g 3 % s .2 0 0 0 F -A
133 F e b ’ 06
D el A H u d 1 st P a D iv 7 s .1917 M-S
149 A u g ’ 01
R e g is te r e d ....................... 1917 M-S
l u 8 Hz 194
XO-yr c o n v d eb 4 s ........... 1916 J -D 107 42 Sale 107
A lb A Sue c o n v 3 % s ........ 1946 A-O 1 1 0 ........ 110
110*4 20
142 Hz M a r’ 05
Jbteus A S ara toga 1st 7 s . 1921 Wl-N
D ei R iv R R B rid g e See P a R R
99 100 H> 99Hi 100 Hz 10
D e n v A R G r 1st con g 48 .1 9 3 6 J -J
C on sol g old 4 % s ................ 1936 J-J 105 .......... 1 (>6*8 A u g 0 6
Im p r o v e m e n t gold 5 s . . . 192b J-I) 106 Sal a 106
“ i
106
95 \ Sale
E io G r W est 1st g 4 s ___ 1939 J -J
3
95
95*4
89
M g e and co l tru st 4 s A .1 9 4 9 A -0
10
87 78 ......... 89
97 J a n ’ 02
U ta h C en t l s t g u g 4 s a l9 1 7 A -0
R io G r So g u See R io G r So
D e s M oi A F t D See M A S t L
B e e M A M in n See Ch A N W
110 S e p ’ 04
B e s M oi On R y 1 st g 5 s ..1 9 1 7 M-N
B e t M A T o i See L S A M So
D e t A M a ck 1st iien g 4 s . 1995 J-D
92 A u g ’ 06
93 4z
G old 4 s.................................. 1995 J-D
92-4 96*4 M ar’ 06
D e tro it S ou th e rn —
.....
O h io Sou D iv 1 st g 4 s . . . 1941 M-S
89H zAug’ 06
B u i A Iron R a n g e 1 st 5 s ..1 9 3 7 A-O *114 .......... 113 J ’ l y ’ 06
112 *2 F e b ’ 0 6
R e g is te r e d ...... .................... 1937 A-O
2d 68......................................1916 J -J
BuJ S h o rt L in e 1st g u 5 s ..1 9 1 6 M-S
110 Ha 112 H> 112*5 A u g ’ 06
B u i S o S h ore A A t i g 5 s .. 1937 J -J
7 a st of M in n See S t P M A M
it T en V a A Ga See So Ry
117 A u g ’ 06
E lg in J o l A E ast 1st g 5 s . 1941 M-N 114 117
S im C ort A N o See L eh A N YT
107*5 J a n ’ 06
E rie 1st e x t g old 4 s .............. 1947 Wl-N
114*5 F e b ’ 06
2d e x t gold 5 s..................... 1919 M-S 108
108Ha A u g ’ 06
3d e x t g old 4 % s..................1923 M-S 1 0 4 34
115*4 Jan ’ 06
4 th e x t g old 5 s ....................1920 A-O 111
103 F e b ’ 05
5 th e x t gold 4 s ................... 192b J-D 100
128
128
20
1 st co n s o l g old 7 s ........... .1 9 2 0 M-S 127
133 F e b ’06
1 s t c o n s o l g fu n d 7 s ........1920 M-S
100*4 18
........100*4 100
E r ie 1st con g 4s p r io r .. 1996 J-J
100*4 A p r 506
R e g is te r e d ....................... 1996 J-J
17
89*4 Sale" 89*4
90
Ust co n s o l gen lien g 4 s .. 1996 J-J
88 JSTov’04
R e g is te r e d ...................... 1996 J -J
9 1 ^ Sale
1
91*5
91*5
P e n n co ll tr g 4 s .............. 1951 F-A
5 0 -y e a r c o n v 4s A ......... 1953 A-O 106*4 Sale 106 Hz 107 Hz 175
B uft N Y A E r ie 1 st 7 s ..1 9 1 6 J-D 1 2 0 1 *........ 127 N o v ’ Oo
104^8 F e b ’ 06
B u ll & S W gold 6 s ..........190b J -J
120
1*0
C h ic A E rie 1st gold 5 s .. 1982 M-N ..........120
J eff R R 1st gu g 5 s ___ a l9 0 9 A-0 1 0 2 * 8 ____ 102*4 D e c 05
L o n g D o ck c o n s o l g 6 s .. 1935 A-O 131
134
134 A u g ’ 06
C o a l A R R 1 st cu r g u 6 s. 1922 M-N 111 *2____ 118 J ’ ly ’ 04
B o c k & im p 1st cu r 6 s ..19 1 3 J -J
115*8 D e c ’ 05
N 7 & G reen L g u g 5 s. 1946 M-N 116*8......... 121 *5 O ct ’ 05
115**116*4 116 ^ u o ’ o e
N Y S u s A W 1st re f 5 s .1937 J -J
103 F e b ’ 06
2d g o ld 4 % s..................... 1937 F-A
G e n e ra l g o ld 5 s.............. 1940 F-A
106 Hz J ’ly ’06
T e rm in a l 1st g old 5 s . . . 1943 M-N 117 Hz
LIB M a y ’ 06
R e g is $ 5 ,0 0 0 e a c h ...1 9 4 3 M-N
M id R R o f N J I s t g 6 s . l 9 1 0 A -0
107 J ’ l y '06
W ilk A Ea l s t g u g 58 .1 9 4 2 J-D
110 Hi 110 A u g ’ o6
SSv A In d 1st con gu g 6 s .. 1926 J -J 112
116 A p r *06

1

Low H igh
131

131*4 135*4
120 *p 124*8
100*5 101 Hi
98 100 H.
113 114*8

107

J -D
Wl-N
A -O
J -J
J -J
F-A
M-S
J-D
F A
F-A
M-N
A -0
A -O
A -O
J -J

107
70
141

108
.......
143

102*4

88

90

105
118% 120

112

* 9 l“ “o T

101 105*4
100 100*4
98 101 \
99 c8 103
96

96

99*8
101
112*6
118*5

103*5
103
115
122

134

135

96 Hi 101
69
80
15 *a 115 Hz

71
91*8

79*8
96 Hz

1 0 4 78 1 0 7 78
120
126*8
121 127
126*8 126*4
108H zlL4f*
102 102*8
101 Hi 104 *4
133

133

107
105

110*4
117

99 101*4
106*8108
106 109
94 *4 100
8 6 Hi 92

92
95

99*4
96*4

87*5 93*4
112 114
112*5112*5
112*5113*5
.116*4 119*8
107*5107*5
114 114*5
107*4 109*4
115*4 115*4
128
i3 3
99

*4

1 3 4 *5
133
102

1 0 0 *4 1 0 0 *4

89 Hi 93 Hz
91
98
100*4 109'
1 0 4 ° 8 1 0 4 5w
1L8
1 2 2 *4

134

135*5

115
103
105
115*4

11 <*5
103
110
H8

107
110
116

110
113
118

M IS C E L L A N E O U S
G a s a n d E l e c t r i c L ig h t
A tla n ta G L Co I s t g 5 s . . . 1947
B k iy n U G as 1st co n g 5 s .1945
B u ffa lo G as 1st g 5 s ........... 1947
C o n s o l G as c o n v d eb 6 s ___ 1909
C on su n i G as See P G A C Co
D e t r o it C ity G a s g 6 s ..........1923
D e t G as C o con 1 st g 6 s . ..1 9 1 8
S d E l l l l B k n se e K C o E L A P
E d E 111 See N Y G A E L H A P
E q G L N Y 1 st co n g 6 s ..1 9 3 2
G a s A E le c B e r g C o c g 5 s. 1949
G e n E le c tr ic d eb g 3 % s ..l 9 4 2
Gt R ap G L Co 1 st g 5 s . . .1 9 1 5
H u d s o n C o G as 1 st g o s . . 1949
K a n C ity ^Mo) G as 1st g 5s 1922
K in g s C o El L A P g o s . . . 1 937
P u r c h a s e m o n e y 6 s ..^ * .x 9 9 7
E d E l 11 Bkn 1st co n g 4 s 1939

136

Continued— Page 2

R O N lib*
N. Y. S T O C K E X C H A N G E
W kkk E nding S e p t 7

Jrriee
Friday
Sept 7

v

D u e Jan

Weefc'8
Lange or
Last sa te

3 - !
2

- s.

(

Lange
S in ce
J an u ary 1

1Hid
A s/c}Low
H i g h Ao j1,010 High
E rie & P itts See P enn <jo
A u g T 6 . . . . 11 m
E vans & T iJ 1st c o n s 68.1921 j J Jj 117 ......... U S
us
JOS
1st g e n e ra l g old 5 s ..........1942 A O 1 108 Sale 108
0 1107*4 lo9Ha
A pr 05
M t V e rn o n 1st void 6 s .. 19231A ■O, .....................1114
S a il Co B ranch 1st g 6 s . l 9 3 0 jA 0 103
. . . 10 J *4 F e b ’ 06
1 o 6 * 4 1 0 U5*
L 'a r g o <fc S o See Ch M <ic St L
5 lin t & P o re M See Pert- Mar
Fla O A Pen in See Sea A ir L in e
105 M a r’9 v
Kbi St C lj (jo 1st g 4H28-1941
•1: I 115
Ft W A D en C 1st %6 s ___ 1921
........ 112*8 113 A u g ' C,
81
8 6 Hz 87
J ’ l y ’ Obi
Ft W A R io G r 1st g 4 s . . . 1928
!i b7
91
^ _tal H ar A S A
See S o P a cC o
98 101 Hz 103 Aug* 06
1 * a i H A H OIT882 1st 5s. 3 913 A -0
03 103
G eorg ia A A la See s e a A L in e
Ga Car A N or See Sea A L in e
G eorg ia P a c ific See s o R y
G ila V G A N o r See So P ao Co
G o n v A O sw e g a t See N Y C ent
G rand R ap & In d See P en n R R
G ra y ’ s P t T e rm See St L S W
97*8 Sale
97*8
98
71 i 97 101 %
Gt N o r —C B A Q coll tr 4s 1921
R e g iste r e d , h ..................... 1921
20,j 97 101*2
97*4
97
G re e n b rie r R y See C hes A O
G u lf A S 1 1st r e f A t g 5s 51952 J -J 101*2 102 102 A u g ’ 06
an A S t J o See C B A Q
o u s a to m c See N Y N H A H
106 4
106 A u g ’ 06
H o ck V al ls t c o n s o ig 4 * 5 9 -1 9 9 9
104% HO
R e g is te r e d ........................... 1999
105 Hz-Fly ’ 04
10 0
....
10 0
Aug*'06
Coi A H V 1 st e x t g 4 s .. 1948
101*4
.1 0 0
........101*2 100 A p r ’ O
C ol A T o l 1st e x 4 s ........1955
>100 1 0 0
H o u st E A W T e x See S o P a c
H ou st A T e x C en See So P ac Co
lC'9Hz......... 109*2 109 Hz
21 103 109%
j Jlinois C entral 1st g 4 s .. 1951
] 04*4 A u g '
......... 108
1 R e g is te r e d ....................... 1951
104% 101*4
10 1
.......... lOu J ’ ne’ 06
1 st g o ld 3*23....................... 1951
99% 100
......... 9 9 ^ 95 v J ’ly *o
R e g is te r e d ....................... 1951
9 5 Hz 95%
99 Hz J ’ ne’ UO
E x te n d e d 1st g 3*58.........1951
99% 101 %
70 O ct ’04
1st g old 3s s t e r lin g ......... 1951
10 * 2 ----- 1 0 4 *2 A u g ’ . 6
Coll T r u s t g o ld 4 s ........... 1952
I U4 % 107 *4
102 O ct 01
R e g is te r e d ....................... 1952
iu3*4 1 0 4 * 1 0 4 %
104 V
L N 0 A T e x gold 4 s ...1 9 5 3
103 106*2
100 M ay’ 06
R e g is te r e d ....................... 1953
100
1 OO
* ......... 106 Hz 105 A u g ’ 6
C airo B rid g e g o ld 4 s ___ 1950
105
* 9 1 * 2 ......... 92 *2 J ’ ly ’ O'
L o u is v D iv A T e r m g3 *2S.1953
91% 94%
1 0 2 Hz......... 123
Ma.y’ 99
M id d le D i v r e g d s . ..........1921
* ......... 81
7bH? A p r ’ 06
Om aha D iv 1st g 3 s ........1951
'7 8 % * 78 %
82 KM ay’ 0
St L ou is D iv A te rm g 3s. 1951
8 2 % 82*2
R e g is te r e d ....................... 1951
91
G old 3Hzs........................ 1951
93Hz J ’ n e ’ Ot
93% 93%
1 0 1 % O ct 9V
R e g is te r e d ................... 1951
10 0
N ov ’0 0
S p rin g D iv 1st g 3*2 8 . . . 1951
101*2
W estern L in e s 1st g 4 s .. 1951
107% J a n ’ O'
107% 107%
117
122 D e c ’ 05
B e lle v A Car 1st 6 s ........1923
90 N o v ’ 98
C arb A S h aw 1 st g 4 s . . . 1932
1 2 0 *2
120 % J ’ l y ’ Oe
C h ic S t L A N O g 5 s. ..1 9 5 1
1 2 0 % 123%
119 % M a r’ 04
R e g is te r e d ....................... 1951
93% M ay’ 04
G old 3 * 2 8 ...........................1951
R e g is te r e d ....................1951
1 0 1 *2
101 Hz A u g 0 6
M ein ph D iv 1 st g 4 s . ..1 9 5 1
io :% io i%
103 N o v :04
S t L S ou 1st g u g 4 s ___ 1931
In d B l A W e s t See C C C A St L
105 ......... 1 087» Jan ’06
In d D e c A W 1st g 5 s.........1935
1 >8 % 108%
* l u 2 ....... 107*2 D e c '0 2
1 st g u a r g o ld 5 s ..................1935
100 J ’l y ’ 06
In d 111 A l a 1 st g 4 s .......... 1950
98*4 1 0 0
99 100
116 .......... 116
IIT
In t A G rea t N o r 1 st g 6 s ..1 9 1 9
116 1 2 0
A u g ’ 06
2d g old 5 s.............................1909
97*2 99 H 1 0 2
98 102%
3d g old 4 s .............................1921
* .......... 77*4 77 *4 A u g ’ . '
75 % 80
Io w a C en tral 1 st g old 5 s .. 1938
109 A u g ’ 0 6
109 115
G old 4 s .................................. 1951
.......... bb
86
Mar* 06
86
88
J e h e rso n R R See E rie
a l A A G R See L S A M S
an A M ich See T o l A O C
K C F t S A M See S t L A S F
K C A M R A B
See St L A S F
Kan C A P a cific See M K A T
72 Sale
Kan C ity Sou 1 st g o ld 3 s .. 1950
71%
72% 20 7 0 * 2 7 5 * 4
R e g is te r e d ..........................1950
63 O ct ’ UO
K e n tu ck y C en t See L A N
K e o k A D es M o See C R I A P
K n o x v ille A O hio See So R y
I ak e E rie A W 1 st g 5s. .1 9 3 7
114*4 115
115 A u g ’ 06
115 119
JLz 2d g old 5 s .........................1941
1 1 0 * 4 ____ 110% J ’l y ’ 06
110% 113%
108 ....... 117 Jan ’ 0 6
N o rth O h io 1 st g u g 5 s .. 1945
117 117
L Sho A M ic h S See N Y Cent
109 10
109% A u g ’ Ov
Leh V a i N Yr 1st g u g 4H zs.l940
109 111*2
R e g is te r e d ...........................1940
107 *2 109*4 112% -\ ovT 5
L eh ig h V al (P a ) c o n s g 48 .2 0 0 3
98L J ’ n e ’ Ov
98% 98*4
1 i8% Apr T o
Leh V T e r R y 1 st g u g 5 s. 1941
118% 1 2 o%
R e g is te r e d ........................... 1941
109 % O ct ’ 99
L eh V Coal Co 1st g u g 5 s. 1933
1 1 0 * 4 ......... 1 1 -% A p r ’ 0<
112 115%
Leh A N Y 1st gu a r g 4 s . .1 9 4 5
9 2 * 8 ......... 96 K M a y T 6
96*4 96%
R e g is te r e d ................
1945
107
E 1C A N 1 st p f 6 s ........ 1914
113 % J a n 06
113% 113%
G old g u a r 5 s ................... 1914
105% J an T o
105% 105 %
L eh A H ud R See C en t of N J
Leh A W ilk e sb See C ent of N J
L eroy A C an ey V a i See M o P
L o n g D o ck See E rie
L o n g I s l ’ d—1 st co n g os.7.1931
U 3 7e
115 J ’ n e ’ 06
114% 117
10 L
1st co n so l g o ld 4 s ........../tl9 3 1
G en era l g old 4 s ..................193b
95 % A u g 0 6
98 Hz
95 % i0 2 %
F erry gold 4 Hzs..................1922
10 2
N ov ’ 0 >j
G old 4 s ..................................1932
9 9 * 4 O ct T o
U n ified g old 4 s ..................1949
96% J ’ly ’ 06
96
96 101*4
D e b e n tu re g old 5 s ........... 1934
110 J ’ n e T l
1003*
G u ar r e f g o ld 4 s ................ 1949
9 j % 1 0 0 % l c 9*9 * i"02%
B k iy n A M o n t 1st g 6 s . . 1911
1 st 5 s .................................. 1911
103% 103%
103% J ’l y T
110
N \ B A M B 1st co n g 5s 1935
112 M ax’ 02
N Y A R B 1st g 5 s ........1927
111
J a n ’ 06
ill* * i n * ’
N o r S h B 1st con g g u 5 s o l 9 3 2
11 2 % J ly 05
L o u isia n a A A r k 1 st g 5 s. 1927
105
105 J ’ n e ’ 06
105 105
u o u isv A N a sh v g e n g 6 s . 1930
115% J ’ n e T 6
115*4 120%
G old 5 s . . . * .......................... 1937
121 % F e b ’ 0.6
1-0 121 %
U n ified g old 4 s ..................1940
100% Sale
98*4 1 0 0 % 70 9S% 104*4
R e g is te r e d ....................... 1940
101% J ’ ly ’ 06
10 0
10 1%
C oll tr u st gold 5 s .............. 1931
......... 113 *8 111% J ’ n e’ Ot
111*4115%
5 -20-yr c o l tr d eed g 4 s . 1923
97 *s Sale
97%
97 Hi 13 97 100 %
E H A N a sh 1 st g 6 s ___ 1919
1 1 0 * 2 ......... 114*4 J ’ n e ’ 05

H

K

B O N O S — C o n tin u e d o n N e x t P a g e .

G a s a n d E le c t r i c L ig h t
L a c G a s L o f S t L 1st g 5 s .e l9 1 9
R e f and e x t 1 st g 5 s ........1934
107 A u g ’ 06
107 11 3 %
70*2 A u g T 6
70
8 0 34 M ilw a u k ee G as L 1st 4 s .. 1927
141
141% *26 137 1 6 8 34 N Y G E L H A P g 5 s ...1 9 4 8
P u rch a se m o n e y g 4 s . ..1 9 4 9
E d E l 111 1st c o n v g 5 s ..1 9 1 0
5 102 104
102*4 102%
1 st c o n so l g o ld 5 s ......... 1995
105 S ep ’ 05
N Y A Q E 1 L A P 1st con g 5 s l9 3 0
N Y A R ic h G as 1st g 5 s. 1921
Bat A P a s G A E co n g 5 s. 1949
112
N o y ’0 3
Peo G as A C 1st con g 6 s. 1943
61% O ct ’ 01
R e fu n d in g g o ld 5 s ........... 1947
88
88
5 8 6 * 4 90
Ch G -L A C ke 1st gu g 5s 1937
10734 D e c TO
C on G Co o f Ch l s t g u g 5 s . ’ 36
105 J ’ n e ’ 06 —
105 108%
M u F u e l G as 1 st g u g 5 s. 1947
98 J ’ l y ’06
95
98
S y ra cu se L ig h tin g 1st g 5 s .’ 51
IT en ton G A E l 1st g 5 s .. 1949
121 F e b ’ 06 —
12 1
12 2
93% M a r ’ 06
93% 93% W e stch e ste r L ig h t ’ g g 5s. 1950

* N o p r ic e F rid a y ; la test bid and ask ed th is w eek ,

[V O L . L X X i l l l

b D u e F eb d D u e A p r e D u e M ay

h

D u e J ’ ly

Q -F
103
AO
104
M-N
J -D 105%
F-A
85%
M-S i o o %
J -J
113
F -A
98
M-N
101
M-S
A -0 *117 120
M-S .........106*4
J -J
104 ..........
J -D 103 ..........
M-N
J-D 100% 104%
M-S
J -D

103

103%

1U2%

102%

103 108%
102 % 104%
93
94%
105 109%
84% 92
1 0 0 % 104*2
113% 118
100 % 104%

94 A u g ’ 06
105
105%
8 4 % A u g ’ 06
100%
100%
113*4 J ’ n e T 6
101 J ’ly *06
103 N o v ’ Oo
104% N o v ’ Oo
12 0
J ’n e ’ 0 6
105% J ’ n e ’ 06
107 J ’ n e 'b 6
105 J ’ n e ’ 06
103 % D e c 05

117 1*23
103% 107%
107 107
10 6
108

110 May* 05
106% A p r T 6

k D u e A u g 0 D u e O ct

g

D ue D eo

106
i

108%

O p tion Sale

New York Bond Record— Continued— Page

S e p t . 8 190(5 J
—o
•5^

N . Y . STO CK E X C H A N G E
\s khk h.Ni>i.v(i S e p t 7

Rrice
J'Tidau
Sept 7

Week? a
Range or
Last bale

-A
^5

Bta
M-N
> J-J
»l J •J
» M-S
.VI-s
S t i.
1 M-S
A n K nox A' N or 1st f 5 s 104' f . n
M-S
H e a d e r B ilge 1st s l g 6s.
J -J
M-S
LA- N -sou th M louii 4 s . 19 o *.
JS Fla <b 8 1st gu £ O s ... 193 K*. A
FA
5 F-A
> A .A
M-S
L N A <fe Oil See C X «fc JL»
aiioo Coal See L S & M S
A -0
A -0
J -J
M c K ’ pt 66 B V See N Y Cent
M etrop olitan El bet’ M a n B y
M ex Cent con sol gold 4 s .. 191] J -J
1st oon soi in com e g 3 s .a l9 3 l I Mr

M

Ass Law
Jiig/i A o
105% . . . . . . 109 M a r’ 05 ____
127
130 J ’ ne'oG —
122% M a r’ 06
119*4
107% A u g ’ nO
i
117% 117%
i 16^4
7 1%
71%
71 Hi Side
i
116 J ’ ly V O
108% Jan ’ 06
107
98 A u g ’ 06
97
97
108 J ’ l y ’ 06 . . . .
U7 i . SvnlA
5
9 .%
9 7 ;%
1 1 1 A u g ’ 06
1 1 2 % Mai* 06
115 % M a r’ 05
1090b
107 D ec ’ 05
104
97 M ay’ 06

A.Ci
* ./ . D
M- N
.</?- S

J -J
M S S M <fe A 1st g 4 m t g u ]
M inn Un bee St P M & M
M o K an 66 l e x 1st g 4 s . . . 1
2d gold 4 s .......................... g.

J-I>
> F -A
LM-S

G en s I 4% s su b re crs . .
St jl* l n v 1st rei u 4 S ....

AO
) M-N
i F-A
M o K <fc E 1st gu g 5 s . . . 194*. A -()
M K 6c O k 1st g u 5 s ........194: M-N
M K 6c i oi 1 1st g u g o s .1 9 4 M-S
S lier s h 6c So 1st gu g 5 s .194: : J -D
Tex<fc O k la 1st s r u g 5 s ...l 9 4 ; M-S
M issou ri P a cin c 3d 7 s ....... 19Ui 3 M-N
1st oon soi gold 6 s .............192i ) M-N
T ru st gold 5s s ta .m p e d .a l9 l M-S
M-S
R e g is t e r e d ...................a l9 1
• F-A
> M- S
♦ l: -A
3J -J
L e ro y 66 C
3 F-A
3 J-J
A -0
A -0
* J -J
M- N
5 M- S
J -J
J-J
J -J
J -D
O-J
M-S
M on tg om D iv 1st g 5 s ..1 9 4 ' F-A
Q -F
J-J
M 6c u coU 4s bee S ou th ern
M oh aw k & Mai bee N 1 C & 1
M on on gaiieia B iv bee H < k u
M ont C en t bee S t B M & M
M o rg a n 's i^a 6c T bee s P Co
M orris 6c E ssex bee D ei L 6c VY
ash C hat 6c St L. 1st 7 s.
J -J
1st co n so l gold 5 s .........
3 A -0
J -J
J -J
'J-J
N ash F lor 6c S h e! bee L 6c N
N a t o : M ex prior u en 4 % s .l9 2 t 3 J -J
1st co n s o l 4 s...................... 195] A O
N ew H 6c D bee N Y N H i t
N J J u n e UK bee N Y C ent
N ew 6c C m E d g e bee PennC< j
N O d # N h o n o r lien g 6s p l9 1 - 3 A -0
N X B k m 6c M an Bek bee L .
N 1 C en t 6c H K i v g 3 % s .l9 9 ' J -J
' J -J
D ebei
1 M-N
Lake
- F-A
- F-A
- F-A
R ei
- F-A
J -J
R eg istered .
3 J •J
2d gu gold
J -J
1 A -0
J -D
C lear
, J -J
^ J -D
M-S
D F-A
5A O

N

\Low Hiu A

X Y C ent 6c H R —(C on tin ued )
Nor A M ont 1st gu g 5 s .1 91 6
W e st S h ore 1st 48 g u . . . 2361
R e g is te r e d ...................... 2361
Lake S hore g o ld 3 % s ___ 1997
R e g is te r e d ...................1997
D e b e n tu re g 4 s .............i9 2 s

123 ISO
122 122li
10. % 1'»7 *.»
1 17% 12 0 %
71% 71%
116 116
108% 108%
98 101
108 110
95
98
) i 1 117%
L12 % 112 %
97

100

76
19

Salt

Sale
15

99^

32
47

134 Sj
118
113
Salt.

137
111%
113
113%
113
92 %
97

85

] A W»

903c.
91

98% i o i

J ’ n e ’ 05
O ct ’ 05
J ’ ne*06
M a r’ 05
Aug* do
92 %
A p r ’ 06

2

102% J ’ n e ’ 06
103 K o v ’ 01

101

75%
1A

i b i j ’ i y ’ 06
90 % J ’ l y ’ 01
105 " M ay’ OO

*S5

111
92
95

76
76
18 %
19
14% Aug*06

-

'J-J
J -J

BON D *
N. Y. S T O (’ K E X C H A N G E
VVKKK ENOiNd SEPT 7

102
102
11 L 0 0 % 1 0 8 76
104 A p r *05
102 %
3 102% 106
•••••• 103% 102%

102

riv

AO
E q u ip cfe coil gold 5 s ----C oii tr u 4% s 1st S e r — 1907 F A
M-S
J-D
M ich Cent bee N Y C en t
M id ol N J bee Erie
M u L 6 <& W bee C h ic & N W
M u 6c N orth bee Oh M 66 St 1
M inn
St L 1st g old 7 s .. 1927 J - D
Io w a E x 1st sold 7 s ........1901 J-D

Range
Since
January 1

M «

1onC

ill

114%
97
97 %

90%
97

100% 102%

101 Sale 100
101
18
86
86 % 86 A u g ’ 06 —
1 UK L-, i A*!
“"""
87 % J ’n e' 0
86%
86%
86%
10
_____
88
88% 88
2
108 F e b ’ Ot
104 ^4
96
J
’n
e
’
06
96
11 2 ^
107 " 166 % J ’ly ?oo
108% 108% Au’g OG
108 % Apr ’06
io o
107
105% A p r ’ 06
102 £
102% J l y ’ u6
120%
120%
120
2
103 104 10 5 % A u g ’ 06
107 % F e b ’ 00
104 104% 103% A u g ’ 06
9 u 7ft S a if
s
90%
92
e3 A u g ’ 06
93^
lo o
110 M a r’ 05
101 Vt
1 0 1% A u g ’ oG
1 1 5 ^ 1 1 6 ^ 118 J ’ n e ’ 06
114%
114%
l l 4 1s Sale
4
116 N o v ’ Oo
9
0
%
91
90 4 Sale
8
93 %
94
2
92*3 94
107 %r A p r ’ 06
115% A p r ’ o6
103
96 O ct ’ Oo
*
98
96% 98
1
125% A u g ’ 06
3.25% 127
122 D e c ’ 05
95 J ’ly ’ 06
114% J ’ ly r0«.
92%
92% A u g ’ 06
101 X'tov’ 04
97 he

99% 103
92%
LUo 10 ( °8
87% 91%
85
89%
88
94
107 108
1 13 % 116
106% 109%
105 109%
108% 108%
105% 109%
101 104
120 125
103 % 107%
104 107%
102% 108%
90% 94 %
93
99 "
10 1 % 105
116 ’ 120%
112 117%
8 9% 94
92% 96
107 % 107 %
113 115%
9 4% 98
12 4 % 1 2 8 %
9 4% 99
i 13 ^ 114%
92 % 98
-•••*- •••••*

116%
113%

116% A u g ’ 06
113%
1 13%
119% F e b ’ 06
117% M a r ’05
113 ' J ’ l y ’ 04

115% 119%
i 112 115%
119% 119%

102%
85

101 % Aug*06
34% A u g ’ 06

101% 105
83
87%

92

Sale

92
92% 414 91% 99%
92
98%
92 A u g ’ 06
1001* Sal* 100
iu o % 59 98% 102
88
83 % 64 87% 93
87 4 88
1 85% 91%
86
88
bd
86
88
92%
88 A u g ’ 06
88
87
8 8 '4 J ’ n e ’ 06
,-6% 90%
102 105 %
102% 106% 102 J l y ’ 06
102 M a i’ 04
105%
103%
95

A p r *02

Ku A 6c G R 1st gu c 5 s. 1938
M ahon O’ l KU 1st 5 s .. 1934
P itts M cK <fe Y 1st gu 6 s. 1932
M c K o e a A R V 1st g 6 s 1918
M ich C ent 1st co n so l 6s. 1909
5 s ........................................ 1931
4.q

v

1940

T 1.
ft 1 *»t O- loft
1 96 1
1st g S % 8 ........................... 1952
Hat 0 6r S tu r 1st gn g 3s 1989
N Y & H arlem g 3 % s ...2 0 0 O
N Y i f c N orth 1st g 5 s . ..1 9 2 7
R W 6c O con I s t e x t 5 s ./ i l 9 2 2
r \\r a - n T R 1 st o?n gr 5s 1918
U tica & B lk B i t gu g 4 s . 1922
\T V' ( ’ hie tfe St L 1 st g 4 s. 1937
R egistered
_1937
N Y 6c G re e n w L a k e See E rie
X Y <fc H ar bee N Y C 6c Hud
X Y L ack 66 W See D L & W
X Y L E & W See E rie
X Y tfc L o n g B r See C e n t o f N J
X e w Y ork N e w H a v 66 H a rt —
H o u sa to n ic K co n g 5 s .. 1937
N H 6r. D erh v con c v 5 « 1918
X Y <fe N o rth See N Y C 6c H
N Y 0 & W rei 1 st g 4 s . . ^1992
R e g is $5 ,0 0 0 o n l y __ ^1992
N Y & P ut See N Y C & H
N Y' 66 R B See Long Islan d
X Y 8 & W See E rie
X Y T e x 6c M See S o P a c Co
N or 66 S ou th 1st g 5 s ..........1941
N orl <fc W est g e n g 6 s ........1931
im p r o v e m ’ t 66 e x t g 6 s .. 1934

-V «>.

3
J*rice
Rrida u
Sept 7
Rid

104 % 104 %

5

Range
sin ce
7, January 1

Jiiff/i A 0 Low JhgR
...... ........
|......... . . . . . .
105% 105%
104
109
104% 104 % 3;5 103% 107%
96%
95% 1 - 95 % 101 %
96 A u g » 6
! 96
99%
98
98 \ 25
6 « 101%
99
101 %
101 % F eb O'
...... ........
125 % M a r’06
J"l22 '-j i'25%
139 Jan ’ U3 . . . . .....................

A sh Low

.....
AO
105% .........
J -J
1 0 4 % sa le
J-J
m
95
J-D
J -D ......... .........
98 Sale
M-S
F-A
...... ......
J -J
J •J ......... .........
127% . . . . . .
J -J
J - J 1 _. >%
J - J 109 ~
......
M-S
. . . . 122
M-S
Q M
J -J
102 \
J -J
MS
96%
M-N
J -D m
M-N
iYi-N
112 ............
AO
A-O . . . . . . . . . . . .
F-A
M-N
............
J -J
A O 104%
A -O

107 % J'ne'o* . . . . 1107% 107%
] 18% J ’l y ’06 . . . . |l 1H *.a 120
119 J 'l u ’ Ot,
119
119
104 % M ai ’ 0 6
101% 104%
106 % N o v ’ OO
97

J ’ ly ’0 6

98%

i o i % J ’ ly ‘ o c . . . . 10 L^ 101 %
119% M ar’ 05 . . . |. . . . . . . . . . . .
113% 1 18
113% A u g ’ 06 —
113% J an ’ U‘_
103 % A u g ’ 06 . . . . 103% 104
1U4% A u g ’ ( (i
103% 106
103 O c t ’ Ou

124

M-N

96%

F e b ’ 06

124

125

M-N
M- S

99%

99%
99%
101% J ’n e u

J- s

M-N
M-N
F-A

103
129
129
1 30
10u%

6

110 M ay’ OO . . .
103
132% 131% J ’ l y ’ 06
......... 130% F eb H L . . .

59% 104%
L01 101%

107% 111
131% 132%
1 30% 130%

101
32 99% 102%
Sale 100%
N 66 W B y 1 st con g 4 s. 1996 A-O
100 F e b ’ 06 . . . l o o
lo o
10 0
R e g is te r e d ...................... 1996 A -O
97
59%
95 %
99 J ’n e ’ 06 . . . .
D i v ’i 1st 166 gen g 4 s . . . 1944 J -J
93
93
93 S ale
3 91
95%
P o ca h C 66 C jo in t 4 s .. 1941 J -D
1o9 % F eb ’ 05
C O A T 1st gu g 5s
1922 J - J
99%
LOO A u g ’ 06
99% 103
S cio V & N E 1st gu g 4s 1 989 M-N
N orth Illin o is Sec Chi & N W
N orth Ohio See L E rie 6c W
N or Pac— P r io r lien g 4 s .. 1997 Q J 103% Sale 103% 103% 99 102% 106%
102 % A u g ’O '
102% 106
R e g is te r e d ........................... 1997 Q- J
75% Sale
75 %
<6
3c 75
78%
G eneral Uen g old 3 s ____ a2047 Q-F
. 6 J ’ n e ’ 06
71
74% 76
R e g is t e r e d ....................... a2047 O-F
98 J ’l y ’ 06 . . . . 98 101
98
S t P aul-D ul D iy g 4 s ___ 1996 J -D
C B A Q co ll tr 4s See G t N or
122 % A u g ’Oo . . . 122 % 125
S t P & N P gen g 6 s ___ 1923 F-A 122
R e g iste re d c e r titic ’ s 1923 0 - F
132 J ’ l y ’ 99
113 M a r ’ 0 6
113 113
St P a u l 6c D u l 1 st 5 s ___ 1931 $ -A 111
109% 110
109% M a r’ 06
2d 5 s ................................. 1917 A O 107
i 9 8 % 100
98%
98%
1st c o n so l g old 4
s
1968 J - D
99
mmm0
93 M a y ’0(.
91
93
W ash C en t 1st g 4 s ..........1948 v*-M
113%
116 M a y u o . . . . 115 116%
N o r P ac T e r Co 1 st g 6 s .. 1933 J -J
X or R i7 Cal see S o P a c
X or W is See C S t P M & O
X o r 66 M on t See N Y C ent
( k In a & W see C C C A S t L
116 M ay’ OC
116 116
w l i i o R iv e r B R 1 st g 5 s . 1936 J -D 113%
110% 114%
G en era l g old 5 s ___ _
1937 A -0 109 111% 114% J a n ’ 06
Ore 66 Cal bee S o P a c Oo
O re R R <fe N a v bee U n P ac
o r e S hort L in e See Un P ac
o s w e s-o 66 R o m e See N Y C
') C F 66 S t P See C 66 N W
98% J’ n e ’ Oi
O zT k 66 C her C 1 st g u 5s g.1913 A -O
98% 100%
o a c C oast Co 1st g 5 s . . 7 .1 9 4 6 J -D 109% 112
1J0 J ’ lyT -6 ____ LiO 114
i a c ol M isso u ri See M o P ac
Panam a 1 st s fu n d g 4 % s.. 1917 A -O 103%
103 J ’ l y ’ 06 ... 103 1C6%
S in k 1Una su b sid y g 6s 191 o VI-N
102 A p r ’ 02
10
5 A u g ’ 06
104% 108%
Penn Co— G u a r 1st g " 4 % s .l9 2 i J -J
106
rnm
m 105 105
R e g is te r e d ...................... 1921 J -J
102% 165% L05 J ’ i y ’ UO m
90% 90%
G u ar 3 %s c o ll tru st r e g .1 9 3 7 M-S
87%
90% J ’ n e ’ 06
90 J ’ly T o
G uar 3 %s co ll tr se r B . . . 19 41 F -A
87% 90
90
92%
.
.
.
.
96
98
T r Co c e r tif’ s gu g 3 % s.l 916 VI-N
97% 97 ^ A u g ’ OC
96
G u 3 %8 tr c tfs o ...............194 2 - D
89
G a 3 %s tr C tls D .................. 1 944 J -D
87%
1 117% 122
C St L 6a P 1 st con g 5 s . 1932 A-O
120%
120%
Cl 66 P gen gu g 4 %s ser A ’4 *z J - J
108% A u g ’ U,
Senes" B .................................. 1942 A-O
98% D e c 0
S crie s C 3 % s ...................19 4 s M-N
S eries D 3 % s ....................... 195U F-A
96 J an 0 .1
E rie 66 P itts g u g 3 % s B . 1940 J -J
96% Jan ’ 0>
96% 96%
S eries C .................................. 1940 J - J
9^> % A p t ’ 04
N 6c C B d g e g e n gu g 4 %s 1945 J - J 102
109% 112%
110 J ’ l y ’ 6
P C C & S t LgU(£ %s A . .. 1 9 4 0 A-O l i u %
S e n e s B g u a r .................1942 A-O 1L0% H i
110%
UU%
7 109% 112%
S eries C g u a r .................1942 M-N
112 % I’ n e L
99
99
S e n e s D 4s g u a r ..
. 1945 M-N
99 J ’ n e ’ O'.
99%
S e n e s E 3 % gu a r g ___ 1949 F-A
90 A u g ’O.
90
8 o % 04%
S e n e s F 4s g u a r ......... 1955 J -D
P itts F t W 66 C 1 st 7 s. ..1 9 1 2 J - J
127% ()c t ’ 02
2d 7 s ............................... 1912 J -J
119 J ’ neh -16
117% 119
3d 7 s ............................... /t l 9 l 2 A-O
119 A p t ’ 04
Penn R R 1st rea l est g 4 s 1923 M-N 101 105 % 1< 4% J ’ ly ’ ('6
L0 4 % 106 %
C onsol gold 5 s ..........7___ 1919 M-S
l L1
S ep ’ Om
C onsol gold 4 -s...................1943 M-N
J0 6 A u g ’ U
96 1* Snip
C o n v e rtib le g 3 % s ........... 1915 J -D
96
9 6 % 101.> 92% 101
C o n v e rtib le g 3 %s........... 1912 M N 101 % S I
46 96 105%
A lle g Vai gen gu g 4 a ... 1942 .Vi- S
104% O ct ’ O.j
Cl 6c M ar 1st gu g 4 %a 1 9 3 5 .v,- S
110 J a n ’ 05
D U R K A B g e 1st gu 4s g . ’ 36 F-A
Gr R 6c l e x 1st gu u 4 %s 1941 J -J
105 108%
110
105 A u g ’ v>6
i0 5
h

107% 105 N o t ’ 05
105 O ct ’ 02
......... ——— 104% F e b ’ 06 —

Week’ s
Range or
Last bale

p

iH lr tC E L I iA N h O L I ft B O M 1 S —C o n t in u e d on N e x t F a a e
l o a l a n d Ir o n
Co. Y 6c I Co gen s 1 g o s . .1 9 4 3 F-A
C o n v e r t i b l e d e b g 5 s ___ 1911 F A
Coi C 6c x Dev gu 5s g..l9u9 J -J
Co. i ue. Co gen imid 6s. 1919 M-N
Gr Riv Coal 6c C 1st g 6bl919 A -O

07% 102
85 .........

......
102

Colora o Xndustrixl
1st m o d ; co. i

js

g u ___ 1 9 3 4

C on tin ’ ta lC 1st s t g u 5 s g .l 9 5 2
J e s 6 c C iear C 6 c I 1st g 5,4. i 926
2n gold oa........................... 1926
K an 6 c H C 6 c C i s t e f g 5s. 1951
P leas Val Coal 1st g a t 5a. 1928
T e n n Coal uen „.s............... 1951
l e c n D i v 1st ~ tte.V.V.i 1917
B .rm D iv 1st co n so l 6 s .. 1917
Cah C M Co 1st g u g 6a. 1922
D e BarCJfc l Co gu g 6 s. 1910
V Iron Coat 6 c Co 1st g 5 s. 1949

FA
FA
J-D
J-D
J -J
J -J
J -J
AO
J -J
J-D
FA
M -S

07 ^ A n g ’ 06
88 J ’ly ’ 06

......

......... 107% O ct ’ 04
102% A p r ’ 06

7G% Sale

......

_____ 103

76%
10? %
107
102%
105%

97 % 105
88 102%

....
• •• « . . . . . . . . .. . .
......
- - -•
.... 102 fa 102%

156
77
D e c *04
M ay’ 97
O ct ’ 03
O ct ’ 05

73

83%

..... ......

T e le g r a p h a n d T e le p h o n e
A m T e le p 6c T el co ll tr 4s 1929
Comin Cable Co 1st g 4 s . . 2397
M et T 66 T 1st s t g 5 a ........191s
X Y 66 N J T el gen g 5 s .. 1920
W est U nion col tr c u r 63.1 9 3 8
Jbd and real est g 4 %h. . . 1 9 5 o
M u t Un T e l h fund 6 s . . . 1911
N o rth w T e l gu I 4 %s g . . 1934

9«
J ’ne 6
A u g ’ Oi
D e o 'o 3
A u g'oO
05%

~

9 1 * 8 .........

(i- J

M-N
M- N
J-J
M-N
M-N
J -J

.....................
104 % i 0 6 %
102% 103 %
1 0 1 % .........
.....................

0 0 % 96%
90% J ’ ly ’ 06
96% 98
96% J ’ h e’ OG
109 % M ay 05
105 % J iy ’ u3
101 % A u g ’ G
i ’04 % ib<5%
103
l o : % 30 102 106
1Oo % .0 7
20 6 % M a r’ 06
.. .
103 J ’l y ’ 04 —

M a n u fa c tu r in g A ' In d u s tr ia l

b n C ot Oil e x t 4 % s ........... 1915
9 7 ” 1 0 1 % V.11] H ide 66 L ls l s I g 6 s .. 1919
105
110% A m er Ic e S ecu r d eb g 6 s . . 19^6
i 06% i l l
viu s n i n u M fg 1st g 6 s .. 191
■V.1U llireaU 1st col tr 4 s . . . 1919
lo b
103*4 Ain T o b a c c o 4 0 -y r g 6 s ___ 1944
9 91 34 98%
4a............................................)951
* N o price F riday; latest bid and as&ed. aDueJan bDueueb c h u e ...ar d ^ u o A p r l\ D a e J ’ly k Due A u g
o
9 8 ......... 98
109
......... 112
108
107 108
lo 2
......... 100
io o
96%
96% 08

J -J

Q -F
M-S

A-O

M-S
J -J

AO

8 9 % ........
03 S aif
94
98

112 % Sal<
77% sa le
Duo o c t p D a e N
F A

98
94
94 A u g’OC
«{ JI 8 b % 100 %
S’J %
90
.-,6% 04
i:
03
93
lu4
99
: 3 J ’ ly ’06 . . . .
8H%
0 1%
90 A u g 'etf
117%
112
1 2 % 7 ; ilO
76 % 84
77%
78 Sm14
ot

q Due doc 9 O p tion >aJA

552

New York Bond Kecord— Concluded— Page 4
i f ON U S

N . Y . STOCK E X C H A N G E
W e e k e n d in g s e p t 7

c
■8-2

P rice
F rid a y
Sept 7

Wee/c's
R ange or
Last Sale

S -J

Range
Since
■January 1

High A'o Low High,
liid
Ash how
P en n K it— ( Continued)
110% F e b ’ OG . . . . 1 0 9
n o 1P h ila B al <fc W l e t g 4 s ,.1 9 4 3 M-N
S un ^5 L e w is 1 st g 4 s . . .1 9 3 0 J •J
110% S ep ’ 0 4 ....I
U N J K K Sc Can g e n 4 0.1944 M-S 103% 114
P e n s a co la So A t l See L So JSash
P e o So E a st See C C C & S t L
123 % J a n ’ 05
P e o & P e k Un 1 st g 6 s ___ 1921 A . C 114 T
100% D e c ’ 05
2a g old 4 has......................61921 M- N
..................
109 A p r ’ 02
P e r e M arq— Ulit& W M 5s 1921 J -D
F lin t <fc P M g 6 s . . . ........1920 A-O 1 1 3 *4......... 112% A p r ’ 06 — 112 % 118
................. 107 J T y ’ 06 — 107 110%
M-N
1 st co n s o l g o ld 5 s ...... 1939
in %
P t H u ron D iv 1st g 5 s. 1939 A-O 1*05 ......... 110 A p r ’ 06 ___ n o
S a g T u s So H 1 st g u g 4 s . 1931 F-A
P h il B & W See P e n n R R
115% M a r ’ 06 —
115 % 115 %
P liila So H ea d in g co n s 7 s . 1911 J-D
137 N o v ’ 97
P in e C reek r e g g u a r 6 s . . . 1932 r . n
P itt s C m Sc S t L S e e P e n n Co
P itt s C le v e So T o l See B <fe O
P itt s F t W <fc Ch See P e n n Co
120 O ct ’ 01
P itt s J u n c 1 st g o ld 6 s ........1922 .T..1
112% D e c ’ 02 . . .
P itt s So L E rie 2d g 6 s . ..a l 9 2 8 A -O 110
P itts M c K e e s So Y SeeN Y Ceu
120 Mai*’ 06 — 118 120
P itt s Eh & L E 1 s t g 5 s . . . 1940 A -O
1191*2 98 J ’l y ’ 97
1 s t c o n s o l g o ld 5 s ..............1943 J -J
P itt s So W e st See B So O
116 M ay’ 05
P itts Y So A s li 1 st c o n 5 s .1927 M-N
99%
99% 155 99 102 5»
■fl>eacLing Co g e n g 4 s ........1997 1. T
99*4 Sale
100% J ’ n e ’OG
99% 100%
J t l R e g is te r e d ....................... 1997 J ' J
2 97 % 101 %
98
J e r s e y C en t c o ll g 4 s . ..1 9 5 1 A 0 _____ 98*2 98
R e n sse la e r Sc Sar See D Sc H
R ic h So B an See S ou th R y
R ic h So M eek Sec S ou th ern
R io O r W e s t See D en So R io O r
109 M a r’ 05
R io G r J u n o 1 st g u g 5 s . . . 1939 J -D
76 D e c ’ 05
R io g r So 1 st g o ld 4 s -------- 1940 J - J
89 J a n ’ 05
G u a ra n te e d ____ _________ 1940 J - J
R o o h So P itts See B R <fc P
R o m e W at So O g See N Y C ent
106% O ct ’ 05
R u tla n d 1 st co n g 4 % s ____1941 J - J
95
98 V J ’ n e ’ OG
O g & L Chain 1 st g u 4s g .1 9 4 8 J - j
9 8% 100%
101% N o v ’ Ol
R u t-C a n a d 1 st g u g 4 s . . .1 9 4 9 J - J
ag T u s So H See P e r e M arq
t J o So G r Isi 1 st g 4 s . ..1 9 4 7 J -J
9 0 ......... 90 A u g ’ 06 . . . 90
94%
S t E aw & A d ir o n 1 st g 5 s . 1996
124
122 J a n ’06
122 122
J -J
2d g old 6 s ....................
1996 A-O
S t L Sc C airo See M o b <fc Ohio
S t JL cfe Iro n M o u n t See M P
S t L K C & N See W abash
S t JL M B r See T R R A o f S t L
S t L So S F ran 2d g 6 s C l B 1906 M-N
101 J ’ n e’ OG . . . . 100% 102%
2d g o ld 6 s C lass C ........ ..1 9 0 6 M-N
101% J ’ ly ’ 08 ___ 100% 102%
G e n e ra l g o ld 6 s ..................1931 J -J
125 126
125 " J ’ l y ’ 06 ______ 125 127 :
G e n e ra l g o ld 5 s ..................1931 J -J
111% A u g ’ 06 . . . . 110 114
....... . 110
S t L <fc S E R R c o n s g 4 s .. ’ 96 J -J
9 0 ......... 9 5 % J ’ly ’ 06 . . . . 9 5% 95%
S o u th w D iv 1 st g 5 s ..1 9 4 7 A-O
102% A u g ’ 06
R e fu n d in g g 4 s .............1951 J -J
82%
82% 49 32
8 2 % Sale
88
5-y ear g old n o te s 4 % . .1 9 0 8 J -D
97 M ay’ 06
95% 97
K C F t S So M c o n g 6 s . . 1928 M-N
1 20 % J Ty ’ 06
120% 121
64 8 1 % 87%
K C F t S So M R y r e f g 4s 1936 A-O
8 3 ......... 81 %
84
X C & M K & B 1 st g u 5S.1929 A-O
S t L o u is S o See Illin o is C en t
5 95% 99%
S t L S W 1 st g 4s bd c tfs .1 9 8 9 M-N
95% Sale
95 %
96
2 d g 4s in c bond ctfs...2> 1989 J -J
82 %
84% A u g ’ 06
82 % 89
C on sol g o ld 4 s ....................1932 J -D
77
78
77 %
7 7 % 25 76
82
G r a y ’ s P t T e r 1 st g u g 5s 1947 J -D
S t P a u l Sc D u l See 1STo r P a c ific
S t P a u l M So M an 2d 6 s . . .1 9 0 9 A-O 1 0 7 % .......... 106% A p r ’ 06
106% 109%
___. . ______ 133% J ’ n e ’ 06 . .. 133% 137%
1 st c o n s o l g o ld 6 s . ______ 1933 J -J
R e g is te r e d ....................... 1933 J -J
140 M a y ’ 02
R e d u ce d to g o ld 4 % s ..l 9 3 3 J -J 108 109
107% A u g ’ 06 . . . . 107% 112%
R e g is te r e d ................... 1933 J -J
116% A p r '01
D a k ota e x t g o ld 6 s _____ 1910 M-N 108% .
108% J ’ l y ’ 06
108 111
M o n t e x t 1 st g o ld 4 s ___ 1937 J -D
101 A u g ’ 06
100 104%
R e g is t e r e d ...................... 1937 J-D
103% Sep ’ 05
E M in n 1st d iv 1 st g 5 s .. 1908 A-O 1 0 1 % _____ 101% A u g ’ 06
i o i % i o i 5fi
.Nor D iv 1st g o ld 4 s ___ 1948 A-O
M in n U n ion 1 st g 6 s___ 1922 J -J
124 M ay’ 05
M o n t C 1 st g u g 6 s _____ 1937 J -J 1 3 1 % _____ 134% J ’ n e ’ OG
134 136
R e g is te r e d ____ ________ 1937 J -J
136% M ay’ 06
136% 136%
1 s t g u a r g o ld 5 s ............1937 J -J
1 1 5 % _____ 116 A u g ’ 06 ___ 116 119%
W ill So S F 1 st g o ld 5 s ..1 9 3 8 J-D 118 120% 121% O ct ’ 05
S t P <fc N o r P a c See N o r P a c
St P So S’ x C ity See C S t P M <fcO
S F e P r e s & P h 1 st g 5 s . . .1 9 4 2 .YL-S 1 0 6 % . _ 112% J a n ’ 06
1 1 2 % 112%
S A So A P See S o P a c Co
_
_
_
S F So N P 1st s in k f g 5 s . 1919 J -J 1 0 8
n o
110 O ct *05
S a v F So W e s t See A t l C oast L
S cio to V ai & N E See N o r So W
S eaboard A ir L in e g 4 s . ..1 9 5 0 A-O
8 6 % ......... 87 A u g ’ 06
8 6 % 92
C o ll tr re fu n d g 5 s ..........1911 M-N 1 0 1 % ......... 102
102
2 101 103%.
A tl-B ir m 3 0 -y r ls t g 4 s .e l9 3 3 M-S
8 9 % 9 2% 92% A u g ’ 06
83
97
C ar C en t 1 st c o n g 4 s . . .1 9 4 9 J -J
95 . . . . . . 96 % M ax’ 06
96 % 97
F la C en & P e n 1 st g 5 s. 1918 J -J
106 . . . . 107 % A u g ’ 0 6
107% 109%
1 st lan d g r e x t g 5s .. .1
J -J 105
......
C o n so l g o ld 5 s ................1943 J -J 1 0 7 % .................... 109% M a r’ 05
G a So A la R y 1 st co n 5s o 1945 J -J
1 0 8 % .................. 110% M a y ’06
110% 111%
G a Car Sc N o 1 st g u g 5s 1929 J -J
110 J a n ’ 05
_
_
_
_
_
___
_
_
_
_ 108
S eab & R oa 1 st 6 s ................1926 J -J
A u g ’ 06
108 110
S lier S h r So So See M K Sc T
S il Sp O ca Sc G See A t l C oast L
S od B a y So S o 1 st g 5 s........ 1924 J -J
102 J a n ’ 03
S o Car So G a See S ou th ern
S o P a c Co— R R 1st r e f 4 s . 1955 J -J
96 Sale
96
96% 205 94 % 97%
G o ld 4 s (C en t P a c c o i l ) . /cl949 J -D
92 Sale
91 %
92
40 9 1 % 96%
R e g is t e r e d ....................&1949 J -D *91
_
_
_
_
_
_
_
_
_
_
9 1 % M a y ’ 06
91 % 92
1 00 11 o
A So N W 1st g u g 5 s ___ 1941 J -J 1 0 4 % .................... 109% F e b ’ 06
C en t P ac 1 st r e f g u g 4s 1949 F -A
98 %
99
98 % 102%
9 8% 99
~
R e g is te r e d ....................... 1949 F-A •- ,,T .
9 8% M ay’ 06
98% 9 8%
M o r t g u a r g o ld 3 % s .. &1929 J -D
86% Sale
S6% 89
T lir o u g h S t L 1 st g u 4s ’ 54 A-O
95 J ’ n e ’ 06
95
99%
G al H a r Sc S A 1 st g 6 s . . 1910 F-A 1 0 2 % 1 0 5
106 F e b ’06
106 106
M e x So P a c 1 st g 5 s ___ 1931 M-N ........ I l l
111% J ’ n e ’ 06
110 111%
G ila V G So N 1 st gu g 5 s .1924 M-N 1 0 6 % ......... 106% J T y ’ 06
106 108%
H o u s E So W T 1 st g 5 s . 1933 M-N
107% F e b ’ 05
1 st g u a r 5s r e d ........... 1933 M-N 1 0 3 % ......... 104 A u g ’ 06
103% 105%
E & T C 1 st g 5s in t g u ..l 9 3 7 J -J
7 109 % 111%
109% 110
109% lu 9 %
C on sol g 6 s in t g u a r ... 1912 A -O 1 1 2 % .......... 111 % A p r ’06
111 ' 111%
G e n g old 4 s in t g u a r ..1921 A-O
95
96
95 %
95%
i 95
99%
W a c o & N W d iv 1 st g 6 s ’ 30 M-N
12 7 % F e b ’ 02

S

M IS C E L L A N E O U S
M a n u ia c t t ir in g ifc I n d u s tr ia l
B e th S te e l 1 st e x t s f 5 s .. 1926
C en t L eath er 20-year g 5S.1925
C on sol T o b a c c o 5 0 -y r g 4s. 19 51
R e g is te r e d 4 s .................. 1951
D is til S e c C or c o n v 1 st g 5 s .’ 27
I n t P a p er Co 1st co n g 6 3 . 1 9 1 8
C on sol c o n v s f g 5 s ....... 1935
I n t S t P u m p 1 0 -y r c o n v . 6 s T o
K n ic k e r I c e (C h ic) 1 st g 5 s .’ 28
L a ck a w S teel 1 st g 5 s ___ 1923
N at S tarch M fg Co 1 st g 6 s 1920
N a t S ta rch Co s f deb 5 s .. 1925
R e p u b l< fc S 1st & c o lt r o s .1 9 3 4
U s L eath Co s Ld eb g:6s_.1913
V S R e a lty Sc I c o n v d eb g 5s ’ 24
U S S teel C orp 10-60 y r5 s.d * 6 8
R e g is te r e d ............. A p r il 1963
V a -C a r C hem c o l tr 5s g . . ! 9 1 2

J -J
A-O
F -A
F -A
A -O
F-A
J -J
J -J
A -O
A-O
M-N
J -J
A -O
M-N
J -J
M-N
M-N
A -O

......... 95
9 8 34 Sale
77
78
89% Sale
106% 1 0 6 34
94
94%
......... 102%
9 9 % .........
104 .........
......... 90
73
76
97 % .........
109 111
9 1 Sale
98 % Sale
..........100%

9 6 Aug* 06
99 %
98%
7 7 34 A u g ’ 06
78% M a r’ 06
89
89%
106% 107
94%
94%
10 8
A u g ’ 06
97 % O c l ’ 05
104% 104 %
90 M a y ’ 06
74
74
98 A u g ’ 08
109% J T y ’ 06
91
9 L%
97%
983*.
97%
97%
100% A u g ’ 06

N o p r ic e F rid a y ; la te st b id and a sk e d th is w e e k ,

123
17
6
1
....

96
9 6%
77%
7 8%
81
106%
94
10138

96
10 2 %
83 34
78%
90
11 0 %
100
1 0 4 ’%

1 L02 % I 0 8 a4
85
93%
12 73
77
98
98
107 109%
90% 9 9%
24
95% 100%
14'
1 95% 100%
9 8 % 101%
...

a D u e Jan

BONDS
N. Y. STOCK E X C H A N G E
W ee k B idding S e p t 7

[V O L . L X X X III.

P rice
F rid ay
S"pt 7

? !

Week* s
Range or
Last Sale

'^■el

P

Range
Since
January 1

Bia
Low
Hiuh A o : Low H ig h
S ou th ern P a c C o—{ Conti/n/aed,
M o r g a n ’ s Jsi
'V 1st 7s 1918 A-O 12 3% ......... 12'J N o v ’ 04
118 F e b ’ 0 6
118 118
J - J 113%
.1 _.T
......... 106 S ep ’04
-.V.
(, -------113 J a n ’ 01
99% .. . . . . . 99 A u g ’ 06 —
99 Ib 2 %
O re Sc Cal 1st g u a r g 5s. 1927 J -J
14, ^5% 90
86
86 L
S A So A P a ss 1st g u g 4 s .l 9 4 J 1- T
r ..r 103%
105 % M arTG
107 .A p r’ 06
106% 107
J - J 105
102 Jan ’ 06
102 v 102
S P o f C a i l s t g G s C & D 1906 A -O 10134
11L A ug’06
111 113%
1 s t g 6 s s e r ie s E Sc F ...1 9 1 2 A-O 111
114% D e c ’ 04
1st g old 6s
1912 A-O
119 J a n ’ 06
119 119
M-N
108r% J ’ly ’ 05
Ktampoh
1905-3937 M-N
104% IO 0 3 4
104% A u g ’ 06
S P a c o f N M e x 1 st g 6 s . . 1911 J -J
J- J
111 % J a n ’ 0 6 ___ L ll% i l l %
T e x & N O S a b D iv ls t g 6 s .l9 1 2 M-S
110 A p r ’ 06
1 10
n o
Con g old 5fl
.1943 J -J 102
115% 115% 115%
115% 23 115% 119%
S ou th ern —1 st c o n g o s ___ 1994 J -J
116 J T y ’ 06 ___ 116 117%
R e g is te. red
1994 J -J
92%
94% 98%
95 A u g ’ 06
M o b Sc O hio coll trr g 4ft 1938 M-S
115
175
7115
119%
M em D iv 1 st g 4 % -5 e ... 1996 J -J 115%
97
9934
97
98 A u g ’ 06 ___
S t L o u is d iv 1 st g 4 s ___ 1951 J -J
113%
113 J a n ’ 06
A la ( leu R ] At g fis
1918 J -J
113 113
96 J ’ n e’ 06
96
96%
J -J
90%
92
92 ~
92 J ’ n e ’ Ou
2d 4s
1948 J - J
A-O
] 16 % M ay’ 05 .. .
111%
Ooi Sc G reen v 1 at 6s
191 6 J-J
116 M ay’ 06 - - •• 114% 116
E T V a Sc G a D iv g 5 s . . 1930 J -J 114
118% A u g ’ OO . . . . 116 11934
C on 1 st g old 5 s ............. 1956 M-N 118%
L13 % 116 %
E T e n r e o r lien g 5 s ........1938 M-S 111% 114% 1 1 4 % J T y 06
70% 72% 72% A u g ’ Ut
72% 72%
G a M id la n d 1 st 3 s --------- 1946 A-O
119% 120
119% A u g ’ 06
119% L23
G a P a c R y 1 st g 6 s ......... 1922 J-J
122% A p i 'Uo
122
122% 122%
Knnr
O hio 1 at g 6-^ 1 925 J -J
112% 116
113 ’ A u g ’ 06
R ich Sr, D an eon g 6s
1915 J -J 113 114
112% 1 1 2 34
112% J a n ’ih
Deb 5a stam ped
1 927 A-O
98 F e b ’ 05
M-N
107% J T y ’ 06
105 108%
So Car Sc G a 1 st g 5 s___ 1919 M-N 107%
123 F e o ’ 0 ‘2
Virginia. M id aer O 6s .1 9 1 6 M -8 111
110 D e c ’ 04
S eries D 4 _5s
1921 M-S 106%
113 D e c ’ 05
S eries E 5s
1926 M-S 108%
111% M ay’ 06
L ll% 114%
G e n e ra l 5 s ...................... 1936 M-N 111
1 0 9 % M ay’ 06
109% 114%
G u ar sta m p ed .
1936 M-N 109%
97% M ay’ 05
W O Sr. W 1 at, e.y gu 4a 1924 F-A
93*4
111 % A u g ’ 06
111% 114%
W e s t N C 1 at co n g 6s 1914 J -J h i
S < f c N A i a See L tfe N
117 J ’ i y ’ OO
J -J
100 N o v ’ Ol
8 ta t Is! R v 1 st su £r 4t>s 1943 J -D
Syra B m g Sc N Y See D L So W
109 112
^ > er A o f S t L 1 st g 4 % s ..l 9 3 9 A-O 107% . . . . . . 109 M ay’ 06
120 A p r ’ 06
119 120%
i 1st c o n g o ld 5 s___ 1894-1944 F -A 114%
96% 95% A u g ’ uG ___ 95% 100%
G en refu n d s I g 4 8 ..........1953 J -J
111 J ’ n e ’ OG - - •• 111 111
S t L M B g e T e r g u g 58.1 9 3 9 A -O 114
T e x & N 0 See So P a c Co
118%
118%
5 118 124
T e x & P a c 1 st g o ld 5 s_. ..2 0 0 0 J-D 118%
2d gold ine, 5s
. . g2000 Alar
94% A u g ’ OO
85 102
110 M a r’ 06
10 8 % n o
L a D iv B L 1 st g 5 s ........1931 J - J 103
106 % N o v ’04
W M in W c t e N W l s t g u 5 s ’ 30 F -A
1 1 1 % iio %
113 % A u g ’ 0 6
T o l Sc O C 1 st g 5 s ___ _____1935 J -J *1 1 3 %
113
111 M a y ’ 04
W e s te r n D iv 1 st g 5 s__ 1935 A-O
106 A u g ’ 06
106 109
G e n e ra l g o ld 5 s .................1935 J-D 106 !u 7
98% 97% A u g ’ OO
95% 99%
K a n Sc M 1 st g u g 4 s ___ 1390 A-O
89%
89% A u g ’ OO
89% 93%
T o l P Sc W 1 st g o ld 4 s
1917 J -J
88% 92
90
90
90
6 89
T o l StL<fe W p r lie n g 3 % s. 1925 J -J
82
82%
82%
1 8U% 84%
50-year g o ld 4 s ___ _ . . 1950 A-O
98
T o r Ham Sr. R u ff 3 st. g 4a
946 J -D
99% N o v ’ 05
111 A u g ’ o6
n o
1 1 3 %
| [ ls tc r So D e l 1 st co n g 5s 1928 J-D 109% 113
93% 94% 94% A u g ’ OO . - •• 93
94%
*U 1 st r e fu n d g 4 s ........... 1952 A -O
103% Sale 103
103% 114 1 0 2 % 1 0 6 %
U n P a c R R & 1 g r g 4s ...1 9 4 7 J -J
103
103% A u g ’ 06
101% 106%
R e g is te r e d . . 7 . . . . ..........1947 J -J
148 A p r ’ On
146% 160%
1 st lie n g 4 8 . . . . . . . . ........1911 M-N
146 % 149 %
146% A p r ’06
R e g is te r e d
___ ____ 1911 M-N
7 99% 102
O re R y Sc N a v c o n g 48 .1 9 4 6 J-D 100 101% 100% 101
122
122
1 120 126
O re S h ort L in e 1 st g 6 s .. 1922 F-A 120%
117% 117%
1 116 119
1 st c o n s o l g 5 s__ .7........1946 J -J *116%
95 Sale
94%
95
29 94% 97%
G u a r r e fu n d 4 s .............1929 J-D
96% D e c ’ 05
R e g is te r e d .................. 1929 J -D
103%
105 A u g ’ uG
105 105%
U tah Sc N o r 1 st 7 s ._____1908 J -J
108%
U O J ’ n e ’ 06
110 110 ‘
G old 5 s ..............................1926 J -J
U n i N J R R & C C o See P a R R
Utah C en tra l See R io G r W es
U ta h & N o r th See U n P a cific
U tica Sc B la ck R See N Y C ent
98
\ / andaiia c o n s o l g 4 s ___ 1955 F -A
1 0 2 % F e b ’ 06 . . . 102% 105
97% 98% 101% N o v ’ 05
V era C ruz & P l s t g u 4 % s l9 3 4 J - J
V e r V a i In d Sc W Isee M o P
V ir g in ia M id See S ou th R y
»«•••. 112% A p r ’ 06
V a Sc S o u th w ’ t 1 st g u 5 s .2003 J -J 114
108 114
\\J a bash 1 st g o ld 5 s ........1939 M-N 114 % Sale 114% 114% i i 1 1 2 % 1 1 6 %
1 104
105
VV
2d g o ld o s ...................1939 F-A 105 Sal6 105
109
88
D e b e n tu r e se rie s A ........ 1939 J - J
96 A u g ’ Ot
8 7 % 98
79% Sale
S eries B ........................................................1939 J -J
79
80% 7 4 7 2 % 86%
1 st lie n eq u ip s fd g 5 s .. 1921 M-S
102 D e c ’ 05
91
1 st lie n 50 y f g te rm 4 s .1 954 J -J
93 M a r’ 06
93
93
109%
10934 109%
D e t Sc Ch E x t 1 st g 5 s .. 1941 J -J
1 108
n o
D e s M orn D iv 1 st g 4 s ..1 9 3 9 J-J
95
96% 97 N ov ’ 04
Om D iv 1 st g 3 % s .......................1941 A -O
84
85%
84% 85% M a y 506
93%
T o i So C h D iv 1st g 4 s . . . 1941 M-S
94% A u g ’ 06
92
95%
S t C has B rid g e 1 st g 6 s .1908 A -O
1.09% M a r’ 03
83
82 %
8 2 34
W a b P itts T e rm 1 st g 4 s . 1954 J -D
Sale
6 8 2 % 90%
35
3 5 3 4 126
35 Sale
2d g o ld 4 s .......................................................1954 J -D
34% 41%
W a rre n See D e i L a c Sc W e s t
W a sh C en t See N o r P a c
W ash O Sc W See S ou th ern
W e s t M a ry la n d 1 st g 4 s . . . 1952 A-O
84% 84%
8 4 V 19 83% 88%
5
72 Sale
G en So c o n v g 4 s ...........................1952 A -O
72
72
69
76%
115
W e s t N Y So P li 1 st g 5 s . . 1937 J-J
115
115%
2 114 118
G en g o ld 3 -4 s .........................................1943 A-O
95 % 94 A u g ’ 06
94
97%,
In c o m e 5 s . . .........................................(71943 N ov
30
31
30 M ay’ 06
W e s t N o Car See S ou th R y
W V a C en t So P 1 st g 6 s . . 1911 J -J 106
1 0 6 % A u g ?06
106% 109
W h e e l’ g So L E 1 st g 5 s . . . 1926 A -O
11234 J T y ’06
112 114
W h e e l D iv 1 st g o ld 5 s .. 1928 J -J
112 % F eb ’ 0>
i 12% 112%
E x t e n d Im p g o ld 5 s ...1 9 3 0 F-A
111 % A u g ’ 05
R R 1 st c o n s o l 4 s...............1949 xM-S
88
88% A u g ’ 06
8 7 % 93%
2 0 -year eq u ip s f 5s ...1 9 2 2 J -J
102% D e c ’ 05
W ilk e s So E a st See E rie
W il So S io u x F See S t P M & M
W is C e n t 50-yr 1 st g en 4 s . 1949 J -J
89 s4
89% 89%
95
9 89
B O N O S —C o n c lu d e d .
M i s c e l la n e o u s
A d a m s E x c o l tr g 4 s ..........1948
A m D k So Im p 5s See C en t N J
A m SS Co o f W Y a g 5 s
1920
B ’k l’ n F e rry C o 1 st c o n s g 5s ’48
C hic Jc<fe S t Y a rd co l g 5 s .1915
B et M So M Id g r in c o m e s .. 1911
H o b o k e n L & I g o ld 5 s . . .1 9 1 0
M ad S q G a rd en 1 st g 5 s .. 1919
M an B c h H & L g e n g 4 s .. 1940
N e w p N e S h ip So D D 5s <21990
N Y B o c k 50-yr 1 st g 4 s .. 1951
P r o v id e n t L o a n S o c l e s . 1921
St J o se p h S tk Y d s 1 st 4 % s . 1930
S t L T e r G u ppies S tat’ ncfc- P rop
Co 1 st g 4*23 5-20 y e a r ..1917
S Y u b a W a t Co c o n g 6 s ..1923
Sp V a i W a t W o r k s 1 st 6 s. 1906
U S R ed & R e f 1 st s f g 6 s .1931

6 D u e F eb

e D u e M ay

g D ue J ’ne

M -S

102

......... 102

M-N
F -A

_____

50

J -J
A -O

.........

72

102

10034 J ’ n o ’ 02
47 J ’ n e ’ 06
108 J T y ’ 05
69% A u g ’ 06

10 1 0 2
....

10 4 5 3

46 %

53

69%

78

93%
99

98
99

M-N

M-N
AI-N

J -J
F -A
M -S
J -J
J-D
J -J
M-S

50
94 % Sale

F e b ’ Oii

94%
94%
99 M a y ’ 06
100% Sep ’ 05

112 J ’ly ’ 04
113% JT y ’ Ou
*97% *98% 98% A u g ’ 06

h D u e J ’ly

p D ue N ov

....

3

....

s O n tio n Sale

95 ' i*03~

OHIOAG-O STOOK EXOHAN"GE— Stock Record— Daily, W eekly and Yearly
8 TOQSS —U JQ H & ST A N D L O W E S T SA LK PRICES

Saturday
Sept 1

*160

M onday
Sept 3

*160

1S5

*6
*20
624
- 4 *4
lT ^ j
66*4
•85
*274
*67

6%
93
634
54
IS
55%
86
30
70

•*4

26

524

•
1 4

64
145
m

*67
117
*85
•119

68
1174
8S
120

* 4 9 4 50
* ......... 98 4
lu 5 % 1 0 6 '
*130 135
10141014
14
14
11
11
31
33 4

64

>
><

Thursday
Sept 6

F rid a y
Sept 7

L a st Sa le 167 4
*6

64

Las c Sa l e 20

*6

52 4 53
*4 34
54
*19
20
6 1 4 63 4
87 4 88

534
*4 4
*19
63
864
L a s t S a t e 2S 4
*66 4 67 4 * 6 6 4

S a l e 3S
S a l e 26
S a l e 66
S a l e 97
S a l e 28*4
S a l e 99

Last
Last
Last
Last
Last
Last
31

32

32

IS n il r o a d s
J ’ n e ’OO Glide C itv 11v ........... 100
Clilo Pass R v ......................
6 4 C hic A Oak P a rk ........100
A n jf’ OH
Do p ro f
_____ 100
83*2 C h ica g o S u b w a y ........100
6 C h ic U nion T r a c t ___ 100
D o u r e f ...............100
20
65
Kana C ity B y A L t ..1 0 0
D o p r e f.................100
864
A u g ’ 06 M e tro p o l W S E le v .,1 0 0
D o p r e t.................100
67 4
A u g ’ OO N o rth O hio S tr e e t ___ 100
A n g ’ 06 N o r th w e s te r n E le v .,1 0 0
A u g ‘06
D o p r e f................ 100
A n g ’ 00 S tr e e ts W S ta b le 0 L 100
A n g ’ pO
35
W e st C h ic S tr e e t........ 100

Range lor Year
1906

Sales
of the
Week
Shares

lowest

155
O
JU
1,271
100
350
2,143
1,212
5

282

Sale
Sale
Sale
S a le
Sale
Sale
S a le
S a le

5 4

36
29\
<358
15 4

4

854
74

M in in g
M ar’ OS A d v e n tu r e C on . . . . . . 25
Mac* 0 6 A H onor....... ................... 25
J ’ne'Od B in g h a m C on M in in g 50
A n g ’ 06 B la c k M o u n ta in ...... ..........
J ’ n e506 D a ; 7 -W e s t ......... . . . . . 2 0
A n g '0 6 HubbarcU E l l i o t t . . ...........
F e b ’ 06 N o B u t te . . ________ 15
J ’ n e-O G ish a n n on ....................... 10

P rice
F rid a y
Sept 7
B id

A m er B is c u it 6s
1910
A m er S tra w boa rd ls t 6 s 1911
Cass A v e A F G (S t L) os 1912
C lno B oard o f T ra d e 4 s .. .1927
C lue C on sol B r A M it 6s
C h ic C on sol T ra c 4 4 s ___ .1939
C h ic E d ison d e b e n t 6 s . .. .1913
1st g o ld 5 s ________
A192fi
C hic A u d ito riu m 1st 5 s .. .1929
Ohir. D o ck Co 1st 4s
1929
C hic N o ?>liore E le c 6s .. .1912
Ohio. A Mil Klee R v n«
C h ic P n eu m T o o l 1st 5s .a !9 2 1
C hic R o c k I A P a c R R 4s 2002
O ollat T r u s t tr 5s
1 91 9
C om m nil w ealth Fleer.
hi UAa
Illin o is T u n n e l 5 s ........... .1 9 2 8
Katin C itv Rv A-. Ur fV» nn 1919
K n ic x e r b ck e r I c e 1st 5 s . 1928
L ake s t r e e t E l 1st 5 s . .. .1 9 2 s
In co m e 5 s ...........
1925
M etr W s id e E i 1 st 4 s . .. .1 9 3 8
.............. .1938
N orth C lue St 1st 5 s ........ .1909
1st 5s ____ ______
1916
R e fu n d in g g 4 Us
1931
N o C h ic C ity R v 4 4 s .. 1927
.1911
O gden G as 5 s .................... .1 9 4 5
P ea rsu n s-T a ft 5 s ............... .1916
4 '4 0 s ....................
4 '60s S en e.i E
................
P eop le s Gas L A C ' 1st 6s .1943
R e fu n d in g g 5 s ............. .1947
C hic Gas Lr A C 1st 5 s. .1937
C on su m ers’ Gas 1st 5 s. .1 9 3 6
M utual F a e l Ga.i 1st 5s .1 9 4 7
S ou th S id e E le v 4 *•?«... .1924
S w ift A Co 1st g 5 s ......... .1914
U n ion E l (C oop ) 5 » ......... .1945
U m on P a cific eon v 4s . . . .1911
U n ited B ox Board 6 s . ..
W est C h ic St 1st 5 s .......... .1928
T u n n e l 1st 5 s ____
JLHU9
D e b e n t 0s . . . . .
.1914
C on sol g 5 s .......
.1 9 3 6
W e s t D iv C ity R y 4 4 a . .1932
W e a t'rn s to n e Co 5 s ___ .1909

F -A
J -J
J-J
J -D
J -J
J -D
J-J
A -0
F -A
A -0
A -0
J -J
J -J
M-N
M-S
M- S
J -D
M-N
A -0
J-J
F eb
F A
J -J
J -J
J -J
A-O
M-N
M-S
M-N
J -D
M -s
M-N
M-N
A-O
M-S
J -J
J -D
M-N
J -J
J-J
A-O
M-N

Week? s
R ange or
L ast Sale

A sk Low

9 9 4 ..
..........1 0 1 4
_____ 55
noo
10 2
10 0

10 2

x ......... 1 0 0
.
82

98
Sale

103 Saie
. . . . . . 92
499 Saie
99 .........
X 95
S6
91% 9 2 4
86
86%
.............

X.........

85
91 Sale
94 Sale
100 .........
9 9 3 s .........
99 4
100 .........
......... 104
......... 105

......... i Ot
1 1 0 2 4 Sale
98 4 .........
1 0 1 4 .........
......... 7o
M-N ......... 90
F-A
J-D
M-N ......... 70
J -J
.......... 90
A -0

N o te .—A ccru e d in te r e s t m ns t be added to all

6 180

S ep 4
7 4 Jan 17
A u g 11 28% J an 2
J ’ly 13 59 M ay 17
J ’ly 12 1 3 4 F e b 20
May IS 4 6 4 M ar 12
Jan 2 6S % F eb 9
S ep 4 9 3 4 Feb 8
M ar31 30 J ’ n e 8
A p r 3 0 72 4 Jan 13
M ar 14 85 M a r l 2
2 3 4 J ’ ly 24 28 4 F e b 23
60 M ay 23 68 4 M ar 1
89 4 A p r 30 99 J ’ n e 9
27 M ay 18 3 0 4 M a r 2
98 J an 26 102 J ’ n e 15
23 A p r 10 60 F e b 19

5%
364
294
74
144
34
85 4
6

M ax 7
M ar 7
J ’ n e ib
J ’ ly 14
M ar 7
J ’ ly 26
F e b 23
F eb 24

1 1 4 Jan 20
72 Jan 25
129 M ay29
136 Jan 17
6 6 4 J ’ ly 24
10934 A p r 4
30 S ep 6
40
F eb 6
113 4 J ’ n e ‘2
64 F eb 6
175 M ay 31
16 4 F e b 23
1 M ar 6
7 J an 16
165 F e b 15
63 F e b 9
139 Jan 15
118 J an 9
147 F eb 7
71% J an 23

80

Jan 205

4
16
40
64
26
30
82 4
20
59 4
55
21
60
90 4
27
96
40

G et

J ’ ly
7 4 Jan
J ’ly 28 D ec
O ct 8 7 4 A ug
J ’ ne 1 3 4 F e b
J ’ ly 51
Feb
Jan 60 Sep
Jan 92 -s Sep
Jan 25 4 O ct
Jan 73 4 Sep
J ’ ly 09 F eb
May 26 Deo
M ar 68 O ct
May 100 A u g
A u g 30 Sep
D e c 1 0 3 4 M ar
J ’ ne 72 “ F eb

8%. D ec 14 4 A p r
60 Jan 7 3 4 A p r
76 Jan 110 ~ Deo
125 F eb 134 D eo
38 Jan 5 9 4 Sep
98 4 Jan 105 4 M ar

35
105
50
1484
10
4
6
153
32
125
95
134 4
55
11
F e b 28 63

O ct
M ar
J ’ ly
Feb
Jan
J ’ ne
J ’ ne
Jan
Jan
M ay
A pr
F eb
J ’ ne
F eb
F eb

47 4
24
23
71
1184
95
1224

J an 31 44 4 M ar
F eb 3
2 Jan
M ar 7 19 Sep
F eb 6 5 2 4 Aug
F eb 5 1104 Aug
M a r 3 41 Jan
M ar 9 110 Jan
5 A Dr
93 4 M ay 17 9 9 58 M ay
50 A u g 2
9 8 4 Aug 2
109 4 M ar 12 101 D e c
L52 4 J a n 5 46 Jan
1 0 6 4 F eb 15 8 6 4 Jan
2 4 J an 12
1 4 J ’ly
17 4 Jan 20
8 Aug
42 M ar27
23 F e b
64
364
444
144
154
44
85 4
74

Highest

40
112
70
150
10
1
7
172
584
143 4
118
145
67
42
75

J an
Aug
O ct'
M ar
Jan
Jm
J an
F eb
D eo
F eb
D eo
Aug
N ov
N ov
O ct

48 *o A u g
2 4 O c t'
23 O ct
6 7 4 D ec
120 4 M ar
80 4 D e c
120 J ’ ne
5 4 M ay
1104 A pr
114
165
109 4
24
16
41

Jan
D ec
N ov
A pr
D ec
Aug

F e b 26
M ar 7
F e b 26
M a r 29
F eb 26
J ’ ly 16
F eb 23
J ’ n e l6

Chicago Banks and Trust Companies

Chicago Bond Record
*w
BONDS
C H IC A G O S T O C K E X C H ’ G E I f
W e e k E n d in g S e p t 7
■5ft,

Jan

Lowest

54
20
394
4
1 :4
64 4
8 '4
26
66
25

7*8

Last
Last
Last
Last
Last
Last
Last
Last

Range 'or Previous
Year(1905)

Highest

M arlG 200

M is c e lla n e o u s
725
7
7
6 J ’ n e28
74
7%
74
7 4 A m e rica n C a n ............. 100
600 61 J ’ ly 13
60
60
60
60
60
_____ 100
D o p re f
60
*120 121
15 115 F e b 9
113 118
*118 121
*118
121
A.mar R a d ia to r.......... 100
L a s t S a l e 129
129 A u g27
* 1 2 8 4 130
Do p re f
______ 100
* 1 2 8 4 130
A u g ’ 06
282 54 JaxTl3
62
*60
6 1 4 6 1 4 *61
61% 61*4
61 4 A m ar S hip b ld g ______ 100
L a s t S a l e 108
L01 J an 11
A n g ’ 06
Do p re f
..1 0 0
30
30
* 2 8 4 30
___ 1,000 17 X<'eb28
Am er S tra w Roard
So
*2 3 4 30
*284
*37
39
100 36 J an 23
38
* 3 7 4 39
* 3 7 4 39
38
B ooth (A ) A C o ......... 100
*104 108
L a s t S a l e 108
*104 10S
108 J a n 25
Do p re f
. . 100
A u g ’ OO
L a s t s a l t 5S
* 6 7 4 68
55 M ay 2 6
* 6 7 4 58
J T y ’06 Cal A Clue C anal A D 100
L a s t S a l e 175
16838 M ay 18
May'Ob n eu tra l T r u s t R an k 100
L a s t S a le 16
16 F e b l 3
M a r’ 08 C h ica g o A u d itoriu m . .
1 M ar 6
*1
14 Last Sale 1
*1
14
J T y ’ 06 Ohio B r e w ’ g A M a lt’ g ----- . . . . . .
*6
64 Last Sale 6 4
6 4 M a r 23
*6
64
A p r ’ 06
Do u r e f__
*140 145
E a s t S a l e 140
*140 145
136 J ’ ly 31
A n g ’ 06 C h ic E d iso n
___ 100
52
A n g ’ 06
49 M ay 2
2 101 A p r 27
*120 124
121
*120 124
*120 124
121
C h ic T e le p h o n e ......... 100
110 110
160 103 M ay 3
110 110
*108
1094110
110
Ohio T itle A T r u s t ... 100
317 118 J ’ n e 6
123 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 124 D iam on d M a tc h ..........100
1 2 3 4 124
42
42
601 4 1 4 S ep 1
46
42 4 45
42
424
48
Illin o is B r ic k ............. 100
L a s t Sal e 314
N o v ’ 05
L a s t S a l e 80
7 9 4 F e b 23
F e b '0 6
L a s t S a l e 17
J ’ n e ’04 f^vndou A C h ic CJoutr
Last Sale 9
D e c ’04
L a s t S a l e 47
46 M ay 2 2
A n g ’ 06
1% M ay29
L a s t S a l e 1%8
J ’ l y '0 6 Mil A C h ic R r e w ’ g
22
22
21 J ’ ne2y
D o p re f
100 62 M ay 2
6 7 4 N a tio n a l B is c u it ........ 100
674 674
67
67 34
674 674
67 4
3^0 1 1 3 4 J a n 4
117 117
1 1 6 4 1 1 0 4 118 118
1 1 7 4 117 4
D o p r e f.................100
*85
88
*85
67 78 J a n 5
8S
88
*84
88
88
N a tion a l C a r b o n ........100
*119 * 120
L a s t S a l e 121
25 115 F e b 21
*119 120
A n g ’ 06
D o p r e f .................100
Last Sale 54
M ay’ 05 P a g e W b W ire F eu ce
L a s t S a l e 92 4
J ’l y ’ 06 P eople’ s G as D A C’ k e l 00
8 8 7s F ly 1 0
50 ~ A u g 2
L a s t S a l e 50
* 4 9 4 50
A u g ’ 06 Sears R oebuck: com TOO
*49 4 60
60 98 A u g 2
Do
p re f
TOO
*98
99
9 8 4 *98
984
9 8 4 9 8 4 ‘ 98
106 10734 107 4 1 0 7 4 1 0 7 4 1 0 8
1 0 7 4 1 0 7 4 S w ift A C o.....................100 3,263 1 0 1 4 Jan 17
*131 134
131
3 115 M ay 16
*130 135
*130 135
131
T h e Q u ak er O ats C o . 100
100
205 100 S ep 6
*101 1 0 1 4 1 0 1 4 1 0 1 4 100 100
103 4
D o p r e f.................100
60
l % J ’ ne28
*1%
1 4 U n it’ d B o x B d A P ColOO
1*4
14
*1*
14
*14
1%
885
8 4 J ’ne28
1 1 4 114
114
u
1 1 4
114
D o p r e f ___ _ ___ 100
11
114
L a s t S a l e 33 4
103 2 9 4 J ’ ly 23
* 3 1 4 33
Ang'OO W e s te r n S to n e ........... 100
* 3 1 4 33
7*8

* 2 8 4 30
*37 4 39
*104 108
* 6 7 4 58

185

*6
64
*20
24
5 1 4 63%
64
54
20
20 4
67
60 4
86
37 4
*26
29
* 6 6 4 67 4
*35
40
*25
27
*63
66
* 9 6 4 99
*28
234
*98 100
324 324

54

*65
66
86% 8 5 4
*27 4 30
67 4 67 4
*3 6
40
*25
27
*64
06
* 9 6 4 99
*28
284
*98 100
32
32

74
74
60
604
*118 121
* 1 2 8 4 180

♦119 134
•10941104
1234 1334
4 1 4 42

*160

185

54

• 9 6 4 90
*?S
284
•98 100
•SO
83

*i
•6
*140

Wednesday
Sept 5

Tuesday
Sept 4

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

C
<9

Si

Range
Since
January 1

Hi g h No. Low H igh

NAJ>IE

Outstand­ Surplus &
In
in g
Profits f
1904
StockX

B a n k ers N a t io n a l........ $ 2 ,000,000
C alu m et N a tio n a l.........
100,000
5 00',000
9 9 7e 100% C h ica g o C ity ...................
9 9 4 M ay’ 06
102 4 A u g ’ 06
102 4 103% C h ica g o S a v in g s ........... k oOO'OGO
101 JMar’ 06
L01 101
C om m ercial N a tio n a l.. fc2,000JJ00
103 A p r ’ 04
C on tin en ta l N a t io n a l.. 4 ,000,000
55 J ’ n e ’ OO
55
55
C ook Co S tate S a v in g s
50,000
•
m
m
m
104
104
104 J a n ’ 06
C orn E x c h a n g e N a t .. . 3,000,000
102
103%
D re x e i S ta te ..................
102 A u g ’ 0 6
200,000
96% J a n ’ 06
96% 96% D r o v e r s D ep N a tio n a l
600,000
E n g le w o o d S t a t e .........
200,000
87 F e b ’ 06
87
87
500,000
F ed era l N a tio n a l.........
F ir s t N a t io n a l..
8 ,000,000
80
90
8
F ir s t N a t E n g le w o o d ..
81%
824
100,000
79 N o v ; 04
F orem a n B ro s B 'k ’ g Co
500,006
F
o
r
t
D
ea
rb
orn
N
a
t
l..
. 80 A p r ’ 04
1,000/100
103 1 0 5 78 H a m ilton N a tio n a l
'500/fOU
103
103
92 A u g ’ 06
90
95
H ib e rn ia n B ’ k ’ g A s s ’ n 1,000,000
10
K
aspar
s
ta
t
e
B
ank
99
99
200,000
98 % 1 0 0 4
99% J ’l y ’ 06
99 IUO
M ilw a u k e e A v e S ta te .
250^000
95 4 A u g ’ OO
95% 100
M on roe N a t io n a l.........
200,000
M utual B a n k .........
16 M ay’ o5
250,000
91%
92
6 9 1 4 95
Nat B a n k o t R e p u b lic . 2,000'000
80
89
36 A u g ’ 06 —
N ation al L iv e S t o c k ... 1,000,000
90
90 F e b ’ 06 ---- ] 90
N orth Side S ta te S a v ..
50,000
.......................
O akland N a tio n a l.........
100,000
79
79
1 j A u g ’ 06
P rairie N a tio n a l___
250,000
80
92% P ra irie S ta te ............... .
8 0 J T / ’ UC
250,000
P
u
llm
an
L
oa
n
A
S
a
v
..
90%
^4%
300,000
90 %
91
"x«|
100% R a ilw a y E x c h a n g e ...
1 89
94
94
350,000
100 4 M ar’ 06
100 4 100 4 S ou th C h ica g o S a v in g s
200,000
99% JT y ’ 0 6
99 4 99% S la te B a n k o f C h ica g o . 1,000,000
iUO A u g ’ U- . . . . 99% 100
s t o c k Y a rd s S a v in g s
250,000
.0 0 100
100 A p r'u O
U nion B a n k o f C h ica g o
200,000
120 120
120 A p r ’ 06
U nion s t o c k Yds State
200,000
|L01% 105% A iu er T r u s t A S a v g s .. 3,000,000
l o l % J T y ’ 06
106
J T y ’06
|106 108
C entral T r u s t Co o f I n 2,000,000
04
1 0 5 4 C olon ia l T r u s t A S a v ..
104 J ’ h e ’ 0 3
000,000
103 4 F e b ’ *;6 . . . 103 4 103 4 D rov ers T r u s t A S a v ..
200,000
10 J% F irst T r u s t & S a v in g s 1,000,000
10 2
A u g ’ 06 ---- 1 102
102 4
102 4
3 1 0 1 4 103 T Illin o is T r u s t A S a v .. k 1 , 0 0 0 0 00
102 4 J ’ l y ’66 . . . . 1 0 1 4 1 0 5 4 K en w ood T r A S a v in g s
200,000
................... L iv e Stk T r A S av B k.
114
JSov’ 0 4
200,000
70
M erch a n ts’ L 'n A T r Co 3.000,000
70
70
i I 65
9*2 J T y ’ 06 — | 80 101% M etrop olita n T r A Sav
750,000
68 4 S ep ’ 05
N o rth ern T r u s t Co Bk 1,500,000
00
85
P eop les T r u s t A S av ..
BO A u g -o e : : : :
200.000
55
84 % R oyal T r u s t C o ____
70 J ’ u e ’06 —
500,000
90 4 M ay'06 —
89 4 95 ;V U m on T ru st C o ...
1,000,000
9 6 4 Jan ’ 06
96 4 &0 4 W estern T r u s t A S a v. 1 , 0 0 0,00 0
W Side T r A Sav B k ..
200,000
W o o d law n T r A S a v Bit
2 0 0 .0 0 0
C lilc a g o bo nd p rice s.

$ 1 ,144,584
8
38,454
120Y 46 8 + 5
it 74,034
1,945,216
12
2,182,328
8
3,258
6
4 ,041,254
12
24,202
6
302,421
8
27,740
64,825 B ega n
6,454,820
12
126,606 6 + 4
641,898
P r iv
306,7 51
6
168,074
8
70,525
300,389 S u sp
17,297
68,963 B ega n
1,062,272
6
1,310,831 1 2 + 3
5,744
6
27,358
6
64,162
95,755
1J38
210,032
"8
B egan
52,971
5
801,667
6
136,492
30,859 B egan
34,390
2,349,527
7
915, L2 3
4
544,548
5
77,253
6
1,278,889
7 ,070 ,5 1 o 1 2 + 4
24,941 B egan
6,392 In cu r
L177
L2
3 18,901
6
1,652,75 1
8
41,936
491,64'6
749,367 . . . .
26 1,5.8 i
6
0,593 B egan

I Dividends are paid Q-J, with e x tra paym ent s Q-F.
In clu d es <*>>■ il d iv id e n d of Jo % il■ ire.I An g. 10, tJ k
t Jtine IS, *06 lor National hank4 and J 11no l'J, ’00 lor State instil ui ‘on>.
• Bid and asked pncea; no sales were made on this day. t No pnc*: Friday; latent price this week.
oLme Deo. 31. 6 Due Jane. A Liao July. k Capital and surplus to l»o increased.

21.139

__

D ivid en d R ecord
Per­
In
1905 iod

L a st P a id
%

8
Q - J J ’ly ’ C6, 2
N o n e J - J JT y ’ 00, 5
10
J - J J ’ ly ’ 06, 5
12
8
6
12
6
8

Q -J
Q-J
Q-J
Q-J
Q -J

J ’ ly
JT y
JTy
JT y
JT y
JT y
JT y
oct
JT y
JTy

bu sm
1112
io
ate Ba
6

ess
Q-J
Q-J
11 k
Q-J JT y

8

J - J JT y

’ 06, 3
’ 06, 2
’ 00, Ha
’ 06, 3
’ 06, 1%
’ 06, 2
’ 06, 1 4
16, 1906
’0 6 , 3
’0 0 , 2%
’06, H a
’ 06, 4

en d ed A u g
Q-U
bu sm ess
6
Q-J
1 2 + 3 Q-J
6
Q-J
J -J
6

6, 1906.
A u g ’ 06, 1
O ct 2. 1905
J ’ ly ’ 06, l%i
JTy ’06, 3
JT y ’ 06, 1%
J ’ly ’06, 3

8
8
b u s in
4
8
N one
M ay 1.
N one

Q-J
Q-J
ess
Q-J
Q-J

JTy
JTy
J u iv
JT y
J ’ ly

19i'
Q-J
q -J
Q-J
Q-J
Q-J
....
II
190
,t M
Q-J
J -J

5.
J ’ly
J ’ly
FJy

b

5*2
54-5
6
•« •.
12 + 4
Jan 3.
Dorate
12

J ’l y
J ’l y

J ’ly
0

’ 06, 2
’06, 2
3. 1906
’ 06, 1%
’ 06, 2
’ 06, l 1^
’06. 2
’06, 1%
’ 06, 2%
’ 06, 1 %
........... .
’06, 3

arch, 1905
J T y '06, 3
JTy *00, 3
6
8
Q-J JTy '00, 2
....
..............
F-A Aug ’ 06, 3
6
. . . . | ........ ...............
....
0
Q-J ! r i y ’06, 2 %
b u s ln ' essJ Sep 5, 1905
Q-J JTy ’ 06, 1 *•!

BOSTON STOOK E Y 0 3 I N T E — Stock Record, Daily, W eekly and Yearly
S h a r e IV icpw — Not P e r C e n tu m P r ic e *

Saturaay
Sept 1
107
* io o %
*246
*150
*236
105
*164
*3u5
*34
*82

M nn n ay
Sept 3

107%
1 0 0 Si 1 0 0 %
246 246%
150*4 150%
236 236
164% 165
•KI4
"304 310
*33
35
83
*82
*
1 6 L
*
119

*135 % .........
* 10 0

*19*4 2 0
70 % 70%
* 2 1* 4 2 2 %
1 9 4 % 194%
.........
.........
*5 7 % 60

*201
* 6 :;

*83 .........
.........
*103
1 9 1 ^ 194*2
*9 4 % 96%
96*4 96 *2
107 108

*2 3 % 2 5 %
95
95
*13 % 14
32 % 32 %
136% 136 78
* 1 3 6 140
133 % 133%
37% 37 %
103 % 1U4
*3%
4%
117 117%
26
26
8 %
8*4
239 239

♦

i
57*4 67%
89
89
* 1 9 8 200
*14
3
-1 2 9 130
%
* ..........
* .......... 1 0
2 4 9 % 250
10

105

lu 5 %
‘3 2
* .......... 26
*2
3
1 09 7s 109 %
79 % 80
29% 30

hri
b
&
d
-d

46
46%
106 7S 1 0 6 •«
*•60
*75
* 10
86

11
86

90

90

•
•

•
•
•
•
«
0

5
k
«
«
•
•
•
e
•
s
a

4
6 l4
6 %
8 4 '2 34 %
109 110 Si
*9
12

S

3

*1
1 %
* 1 3 % 14
* 3 1 % 32
*•65
*70
*28 Si 29
3 2 14 3 3 ^
12 0 % 1 -0 %
732 735
24 ^ 24*4
*..........
5
•60
‘60
7 7 % 78
*16% 17

*1 1 6 .........
*1 %
1 %
20 ^ 21
12

12

24% 2 4 78
*5%
6%
*19
20
*8 %
9
**45
*55
13*4 13 Si
61
61%
*2 %
2 \
18% 16%
93% 94
*•90
1
40% 40%
114 l l ^
25
25 Si
%
%
91
91
4%
5
*1 %
1 %
9%
9%
*98
99 %
1 2 % 13

8

S
t
a
0

e
0

l6
0

•
a
a
•
4
2

•
•
0
O
j

s
0
4

•
i
•
a

•
«
4
a

•
•
•
a

4
s
e

8%
8%
6 2 7e 6 2 7e

i
e
4

Wednesday
Sept 5

Thursday
Sept 6

106*8 107%
10 0 % 10 0 %
246 246
150% 150%
*236 239
164 J 64 %
.........
*104
*305 310

10 3 % 108%

F rid a y
Sept ?
107%
10 1%
24G
16 L

109

R a ilr o a d *
A tch T o p
S an ta FelOC
Do p r e f ................ 101
B oston <fe A lb a n y ___ IOC
B oston E le v a te d ....... 300
Boflton A; D ow ell
30 0
B oston <fc M a in e ........300
Do pref
100
B oston <fc P rovid en ceIO O
B o sio ii& W o r E le c C o ___
D o p r e f ................. ...
C hic J u n e R y <fe U S Y 1 0 0
D o p r e f.................100
Con
Mont. nia.HM A 3 0 0

Sales
of tlu
Week
Share*

R ange for Year
1906
Lowest

H ighest

Range tor Freviout
Year (1905 /
Lowest

Highest

1

% J ’ ly 12 109 S ep 7 77% Mas 9 3 % Mar
10 1
10 1
10 1%
9 8 % J ’ ly 3 105% J a n 3 99% Jan 1 0 5 % S ep
* ......... 240
246
242 J ’ ly 9 257% F eb 19 253 D ec 261
A pr
*150% 161
152
14/
A u g 10 1(50 Jan 16 152 Xo\ I 58% A p r
•236 240
236 A u g lO
r ‘2 41 Mu\ •>49 Mar
164 164
164
164
104 Sep 7 180% A pr 2 *7d D eo 185 % Mar
L a s t S a i c 170
A u g ’ <>6
170 J ’ ne 7
: 7 1 Jan 175 A pr
L a s t S a l e 310
A n g ’ 06
D ec
306 J ’ly 24 314 ‘g A p r 24 9)5 JaD 31 f
34
34
*33%
34%
50 25 J an 17 3 9 % A p r 7 13 % Jan 35 Mar
82
82
83
83
82% 82%
150 72% Jan 16 90 A p r 7 753% Jan 82% A pr
L a s t v a l e 16J
* ......... 160
A u g ’ uC
157 A u g 9 182 J an 3 2 1 5 0
J an 1 H’l M ar
118 118
......
......
1 0 117% J ’ ly 26 127
118 118
Jan 16 123 No\ 132 Feb
A u g ’ OG
L a s t S a l e 188
188 J ’ly l J
90 M ar24 ]
JaD 1 8 9 '" dar
L a s t S a l e 100
160 A u g 1
A u g ’ 06
107 ’ A ug
L a s t s a t e 2 9 7 % A p r* 06
297 % A p r 3 238
A nr 2
*135 % 130 % 135% 135% 136
13G
136 136
62 135 % S ep 6 3 45 Jan3< i 41 D ec ] 4 8
Mar
F itc h b u r g p r e f........... 100
* 10 0
......... L a s t S a l e 103
A u g ’ 06
• 10 0
50 i« Jan
O ct
95 J a n 8
L a s t S a l e 92%
A u g ’0 6
90 % J ’ly 2 95 Jan 2 8(1 J an 9 ij N OT
La,st S a l e 198
J ’ n e ’ OG M a in e C entral
3 00
197 M ar27 198 A p r 13 17.5 Jan 1 9 9
D ec
20%
2 0 % M ass E le c t n c C o s ___ 100
19% 19%
•20
2 0 %
19% 2 0
98 S 17 J an 5 23 J ’n e 8
13 O ct
23 A p r
70
70 %
72
7 2%
71
72%
*70
70%
D o p r e f .................100 1,150 59% Jan 2 75 J ’ ne 8 55 Nov 70% Mar
* 19 % 2 0 Si * 2 0 % 2 1 % L a s t S a I t 21%
A u g ’ OG M e x ica n C en tra l
21% A u g 2 2 25 ‘4 J an 9
19% May 25% Deo
IOC)
195% 195% 195
194% 195
195% N Y N H & H a r t ....1 0 0
183 190 J ’ ly 11 207 l4 Jan 27 al 9 234 D e c 215 % Sep
135 195
A u g ’ OG N o rth ern N H
L a s t S a l e 158
157 M ay 2 6 163
F eb 7 164 O ct 167% May
100
L a s t S a l t 228
A u g ’ OG N o rw ich Air W n r T»rAfl fW>
228 J ’ ly 12 233 % M arlO >32 Jan ?A3 ’ Mav
201
201
201
201
201Si 2 0 1
O ld C olon y
1 00
65 200 J ’ ly 18 2 1 0 ” Jan 15 205 % Jan 2 12 A p r
*63 ......... L a s t S a l e 101
O ct *05 Per© M a rq u e tte
*53
TOO
79 "J a n 102 F eb
60
*55
60
5 7 % 57% *65
6 0 34 56%
10 0
50 Jan 15 60 A u g l4
Feb
52% D ec 87
D o p r e f ................ 100
L a s t S a l e 55
A u g ’06 R utland n ref
1 OO
50 M a r l4 64 Jan 4 50 A p r 72 J an
*83 ..........
85
85
*83
86%
5o%
45 65 Jan 10 8 6 % Sep 7 50 Jan G7 4 Aug
..........
......... *103 _____ *103
103 Sa 103 Si *103
3 95 J an 10 106 * F e b 20 9 3 % Jar 102 * Sep'
Do p ref
3 00
190% 192% 193% 194
192% 194% U n ion P a c ific ............. 100 7,872 139% May 2 195 Sep 4 113 J an 151% Deo
191 195
94
94
94%
94%
* 94 Si 96% *94% 95%
90 91 M ay 3 99% Jan 2 95 Sep 101% Feb
Do p r e f.................100
173 173
1 173
V e rm o n t Mr Maao
in n
Sep G
1 72
Jan I'-O O ct
9 3% 96%
97
97
97
97
96% 96%
126 94 J ’ ly 27 101 Jan 2 93 Jan 102 Sep
W e s t E n d S t ............... 50
* 108 109% 1 0 S% 103% 108% 1 0 ^%
108 108
43 107 S ep 1 116% A pr 9 110 D ec 117% A p r
D o p r e f................. 50
L a s t s a t e 25%
31 ay ’ 0 6
25% May 9
•^1 1 -2 Sen
L a s t S a l e 60
O ct ’ 05
D o p re f
10 0
55 % Aug 60 % Sep
L a s t S a l e 150
A p r ’ 06
150 F e b 5 150 % Feb 16 146 Mai 15 L ~ N ov
M is c e l la n e o u s
25
*24
25
L a s t S a l e 25%
A u g ’ 06 A m er A g r ic u l C hem .iO O
*24
21 J ’ly 12 34 Jan 27
19% Jan 29% A p r
95
*95 ......... *95
96
96
96
95
160 91 May 2 102 Jan 26 8 6 Jan
■6 % se p
Do p r e f.................100
1 5% 16
16 %
15
15 %
15
15
14
4 % A p r 15 D ec
A m er P n e u S e r v ........ 50 3,577 11 Jan 3 29 M ar 21
33%
33 % 34
33
33 %
32
32 Si
32%
940 26 A u g 9 46 A pr 2 20 Jan 36% D ec
D o p r e f................. 50
136% 136% 136 78 137% A m er S u ga r R e fin ___ 100
1,627 128 May 2 156% Jan 8 L30% Mas 154% D ec
■j 13634 137% 136% 136
136 % 136 % . . . . . . __ . . .
__ . . .
____ _
138 188
2 0 131
May 2 141 Jan 2 - 132 May 14 0 % A u g
D o p r e f.................100
136%
139% A m er T e le p & T e le g .1 0 0 5,329 128 J ’ ly lif 144% Jan 17 I 30% D e c 148 Jan
133 133% 133 133% 133% 130
36% *35% 35% *35% 36% . . . . . .
*36
. . . . . A m er W o o le n ...........1 0 0
60 32 J ’ ne29 47% Jan _4 21 Jan 47 N o v
103S2104
10 3 % 104
104 104
103%
104
7 9 i 101 % J ’ly i9 110% F eb 2 92% Jan 109 M ar
D o p r e f . . . ........... 100
4%
*3 %
4 % L a s t S a l e 4%
*3%
J ’ n e ’ 06 B oston L a n d ..
3% J an J1
4% J’ ne
3% Mai
10
4% J ’ ne 7
*116 ^ l i 6 % *1 1 6 % 117% 117% 117% •117
117% C u m b erl T e le p & T e l 100
29 115 J ’ly 30 1 1 8 % Mar 1 2 116 A u g 124 * J an
*
29
*28
28% *2 3 .........
28 %
28%
■jg D ec
272
*8 %
9 ‘ E ast B oston L a n d ___
9 "
8 S1 *..........
8 %
8 7e
250
8*2
7% Jan
5% Jan 31 10 A u g 3
5% J ’ ly
*235 2 3 S *235 239
239 239
23 7 % 237% E dison E le c I H u m . . . i 00
42 231 A u g I 3 250 Jan 13 239 D ec 257 A p r
1 6 6 % 166 % 107 Sj 1 6 7 7s ___ _ .
1 6 7 6s 169
G en era l E le c t r ic
io o
96 161 J ’ ly 14 180% Jan 9 169 % M av 191 Jan
69
58
68
5 8 % 5 s%
58
68
6 8 % M ass’ ch usettsG asC oslO O
2,150 44
May 3 64% j ’ n e lS
33% Jan 51% Aug
8 8 34 8 y
8 8 % 83%
89
89
8 8 % 8 8 %
222
84% M a y l7 8 9 % J ’ ne 7 80% Jan
<8 % May
D o p r e f.................100
200
*199 200
200
200
200
200
200
31 190 M ar 25 200 A u g 17 US5% J 'n e 206 A p r
M e rg e n th a le r L in o .. 100
3
3%
3%
3 7g
3 % M e x ica n T e le p h o n e ., l o 1,079
• 2 Si
3 H> 3>-4
3 J an 2
1 Feh ||3 % D ec
5 F e u 24
*129 130
12 8
130 130
128
130
130
2 2 128
S ep 4 141 % A p r 6 131 D e c 140% A p r
N E T e le p h o n e ........... 100
*
%, * .........
J a n ’ 06
Si L a s t s a l e 1
1 J an 16 l ^ e J an 15
♦
10
L a s t S a l e 15%
S e p ’05
1 0 '
D o n ref
3 nn
17 Jan
10 Jan
248 250
248 250
250 261
248
250
1 -9 219 J ’ ly 10 251 A u g 5; 230 Mas 258 O ct
P u llm a n C o...................100
*9% 10
10
10
10
10
♦y'a 1 0
220
1 0 % F eb
9 % J an 11 10 % A p r 3
8 % Jan
R e e c e B u t to n -H o le .. 10
105 Si 107 Si 107 107
107 107 >12 107% 107% S w ift & C o ...................100 1,197 1 0 L% J ’ ne22 10^ l4 M ar 9 100 D e c 114 Jan
*
Last sale 2 2 %
J’ n e ’ Ou
TPAh 1 A 18 .T’ lv 23 J an
22
2 2 % J an 13 23
22
*
L a s t S a l e 25
26
*.......... 26
J ’l y ’ 06
Do pref
9R
25 J ’ly 28 26 J ’Jy 2 2.5 M a \ 27 A ug
3
*2
*2
3
A u g ’ OG U n ion C op L ’ d So M g . 25
4 % A ug
Last Sale 2
2
J ’n e ii
2 *4 Jan 22
2% M ay
109% 110
109% 103% 109 % 1 1 0
569 103% May 2 113% M ay 17 103 A p r 115 F eb
109% H O
U n ited F r u it ............ .1 0 0
•80
gi
80 % 80%
80
81
80%
80% U n S h oe M a ch C o r p . 25 1,919 73 Jan 10 36 % F e b 1 57 J ’ ne 90 A ug
30
29% 30
30
30
30
30
30
34% Aug
2 0 1 229 % J ’ ne20 32% J ’ ly 23 x 3 0 % Dec
Do p r e f................ 25
L a s t S a l e 4 8 78 F e b ’ 0 6 IT S Rnhhftr
in n
48 7S F e b l ■ 54% Feb i 34% J an 57 D eo
L a s t s a l e 198% A u g '06
D o n ref
in n
108 % A u g 16 11 3 Jan 13 98 % J an 117 % A p r
46 % 47%
4 6% 4 7% 3 4 6 %
47 % U S S teel C o rp ........... 100 2 3,9 8 9 32% J ’ly 2 47% Sep 6 24% May 43 % D ec
4 5 % 46%
l u 6 ^ lo 7 %
L07% 107%
106^107
107 58 1 0 8
D o p r e f.................100 1,184 9J J’ ne30 113% F eb 1 91 May 107 D eo
*75
*•60
*•60
-75
L a s t S a l e *55
A u g ’ OG W e st E n d L a n d ..
•40 Jan 26 55 J ’ n e ) . •40 M ai •67 % Jan
25
* lo
11
* 10
n
11
11
1 1 % W e st T e le p & T e le g .1 0 0
* 10
345
9 % A u g 3 o 17% Jan 18 11 D ec 2 2 % F eb
*86
88
*86
88
87
87
90
87
41 85 A u g i 7 98 <2 Jan 19 90 O ct 104 F eb
D o p r e f.................100
74
Ang.-U)
92
Alar
L a s t s a l e 74
A u g ’ 06
82 % O ct
90
A u g ’ OG
85 Ain) 24 98 Jan 11
100 O ct
M in in g
*6 %
0 %
6 %
6 %
6 %
6 %
6 % A d v e n tu r e C o n ........ .
135
* 6 Si
6
J a n 10
12% May 1 10% O ct
8 % A pr 4
25
35
3 4% 35%
34
34
34%
35
35 % A l l o u e z ........... ............. 25 1,776 31 % J ’ly 19 47 J an 6
18 A p r 49 O ct
109% 111% 108% 1 1 1 % H i! 1 1 /7a 111% 113% A m a lg a m a ted CopperlOO 47,819 9 2 % J ’ly 13 118 F e b 13 70 Jan 111% D ec
11
1 1 %
1 1 % A m Z in c L ead & S in . 25
366
11
11
8 % A ug 10 16% Jan 8
8
J ’ ne 15% D eo
10 Si 1 0 % * 1 0
L a s t 3 &-it 6 9 %
A u g ’ 06
57% May 2 74
F eb ] 4
2 5 % M <±y 7 3 % D eo
3%
3%
~3% A r c a d i a n ...................... 25 2,235
3%
3%
i Mas
7 N ov
2 % J ’ly ; o
2 34
6
Jan 8
a 1*
s->4
*1
3 N ov
50
7g.l e e 5
1 %
1 % A r n o ld .......................... 25
1 %
2 Jan 3 •45 J ’ ne
*i
1 ^
1 %
13 % 1 4
13%
13% A t l a n t i c ........................ 25
150 L0 % M ay28 28% Jan 6 1 2 % Mas 2.8% O ct
13
1 3 '4
13% 13 %
3 l *4
3i
31 %
31%
32
31
31
31
B in g h a m C on Min<fc S 50 1,123 25 J l y i 3 49 ‘n F eb 14 28 May 37 % D eo
* ‘60
*7 5
*•55
•75
*60
-60
240 •45 M ay29 ■75 M a rl5
50 May •95 O ct
B on a n za (D e v C o ) .. . 10
29
29
28% 29
29%
2 0 % B o 8 tonO onC <feG (rcts) £ 1
1,7 83 20% M ar 15 33% Jan 2
5% Jan 35 D e c
2y5®
8 2 % 33%
33
33%
3 3% 34 %
33 %
33% R n tte C o a lit io n ____
15 8,055 25 J ’ l y l o 34% Vug 2 |
#1 1 6 % 117% 1 1 6 % 1 1 7 % 116% ]1 7
117
317
956 107 J ’ ly 14 121 A ug oj
-..«
C aiu m et
A r i z ......... 1 0
730 735
730
730 C alu m et <fc HecLa___ 25
7 55 735
M ay 2 742 % A u g 17 >01 J ’ ne 720 D e c
* ..........730
6 6 075
*24
24%
24
24
24
24% C e n t e n n ia l................... 25
865 17% J ’ ly 13 32 Jan 12 16% M ar 3 4 % O ct
23% 24
*
5
5%
A p r *06 Centra. 1 O i l
* .........
9^
6
8 % J an
*•60
*6 l
**60
-61
*•60
*6 L
ft,5 7 %
*60 C on s M e rcu r G o l d ...
300
5
% J ’ly 7 •70 Jan 2^ •30 M ar 75 May
77*« 78*2
6 6 % j ly l o
77 7a 78 %
77
77% C opp er R a n g e C on ColOO 6 , 1 - 0
78
78 %
8 6 % Jan -0
64 Jan 85% D ec
16% 16%
315 14 M ari.9 1 8
16 % 16%
17
17
J an 5 11% Mai 22 N ov
16 Si 16 %
D a l y - W e s t ................... 20
75
75
74% M a y l 1 84 F e b l3 l
8 6 % Mar
* i i 6 .......... L a s t s a l e Zidf% A u g ’ u 6
* I l6
116% A u g 9 1 22 M a ri 9 113 Jan 1 -0 D e c
Do p r e f . . __
,3 0 0
A u g ’06 Elm R iv e r .................... 12
*1 %
i % J ’ly 3 1
4
O ct
2% Jan 12
2 M ay
1 %
1 % Last sa le 1%
2 0 % 20%
20
2 o »8
2 0 %
2 1 % F r a n k lin ........................ 25 6,552 14 -*zMay 2 21 % Sep 7
8
A p i 20% O ct
19% 2 0 %
12
12
5 15
10% D eo
9% Jan 17 13% M a r io
5 Jan
h 78 n j 6
12 L
fc »0 ©a,0 »••••• G ra n b y C on solidated. 10
25
25%
26
25%
25
26 % G re e n e C on solid a ted . 10 8,253 1 9 % J ’ly i 2 31% A pr 16 20% J ’ ne 32% D ec
2o
26%
*5 %
5%
*6 %
5% /.ast S a l e 5%
A u g u 6 G u a n a ju a to C o n s o l..
4 % J an 5
7 % A pr
3 Jan
5
7 % Jan 18
20
20
19
19%
20
20
1 5 % J’ly 14 2 9 % Jan 6 17% May 28% J an
19%
19% Is le R o ya le (C o p p e r ). 25
260
8 %
8 %
9
685
6
May 13 % Alar
8 %
*8 %
9
6
J ’ly 14 12% Jan 13
8%
* 5e M ass C o n s o l................. 25
*•45
•65
•40
%
6 0 0 •4o
J ’ neJ7
1% O ct
%
Si M a y flo w e r .................... 25
1 % J an 4 •70 J ’ ne
%
%
1 2 % 13%
13% 13%
13% 13%
13 %
13% M ic h ig a n ...................... 25
6 3 1 0 % J ’ne2^ 17% J an 3
10 % J an 15% D ec
6 0% 61
60
61
60
60 ^
6 0%
0 6 % M o h a w k ....................... 25 1,415 5 4 % M ar 6 67
j ’ n e 5 48 AittY 64% D eo
*2 %
*3 %
2%
2 J ’ly 11
2%
3
6 % D ec
2%
3 M o n ta n a C oal & C oke 25
8o5
7% Feu 13
‘3 %
*2 J ’ ly
18
18
187, 181,
17 7g 17 7e
2 10
11 J a n _ 6 20 A p r 18 10% D e c 13 D ec
N evada C o n so lid a te d
6
93% 94%
93
94
94% 96
Deo
94^2
y 6 74 N o r th B u t t e ................. 16 6,065 74% M ar 6 95% A u g ‘27 34 A u g 93
*•90
1
* ......... -90
2n
i % j an 1 1 •75 May
•90
*9U Old C o lo n v
1 0 0 •70
J ’ ly 17
2% O ct
41% 41 %
41
41
41 % 41%
42
42
O ld D o m in io n ............. 25 1,0-56 33 J ’ly 13 47 % F e b -P 23% May 36 % D ec
114 114
113 114
114 1 1 5
115
116 O s c e o la .......................... 25 2,199 93 M ar 7 116 S ep 7 8 8 F eb 115 u e t
26
26
*25 % 26
25% 25%
235 22% J ’ly U 48 J ail 2 22 J ’ ne 47 D ec
26
26
P a r r o tt(S ilv & C opp ) 10
* 65
% *80
3% Jan
-80
320 •60 May 1 0
l % J a n 4 •50 J ’ ne
% *•65
%
% P hoenix C o n s o l........... 25
90% 91
*89
893*
89
91
407 80 J ’ly 16 114 J an 11 95 May 118 Jan
89
90 Q u in c y ........................... 25
*4 %
6
*4%
5
3% J ’ly i 6
4%
4%
290
1% M ay
8 % O ct
8 i8 J an 3 9
4%
4% R h od e Isla n d ............... 25
*1 %
1 % M ay
3 Jan
1 %
*1 %
1 %
1 % J 'ly 26
2% Jan 16
1 %
1 %
1 %
2
S an ta F e (G o ld & C op) 10 1,650
9
9 Jan
9%
8 %
9
5% Jan ±0 10 M aylO
6 % F eb
8 '8
8*8
9
9% S h a n n o n ........................ 10 5,711
98
93
97
08
15 90 J ’ne 9 122 Jan 2 101 May 140 Alar
*98 1 0 0
.Tamarack .................... 25
*98
100
2 F eb 16% O ct
9 A p r 28 16% Jan 8
11% 12%
11% 12
T e cu m se h ..................... 25 1,720
12
12
*11% 12
40 M ay 2 52 J an 6 24% J ’ne 53% D ec
7% J ’ n e l9 12% A p r 5
7 % J an 13 % Feb
8%
8%
8% 9%
B%
8%
9%
11 T r in it y ........................... 25 13,506
9 M ar 75 D ec
63% 63%
63% 63%
63 <8 63%
63 %
63 % U n ited C o p p e r........... 100 1,100 57% May 2 78 F e b 7
88 J a n 9 L11 F eb 21 74 % N ov 88 Deo
Do
T»ref
. 100
L a s t S a 1 c 89%
J ’l y ’ 06
9% J’ neoO 14% MarSO
9% A pr 13% D e c
9%
9%
200
*9
9 %
*9Si 10
9%
9% U n it S ta tes Coal & Oil 25
0 S S m eit R.ftfA,M in. 50 9,121 51 M a r 6 66 J an 20
57% 68
57% £>8*2
59
G0%
46
45% 46
46
45% 45%
Do p r e f .. ______ 50 2,191 43 Mar 5 47 % Jan 20
60
6 1) ^
6 0 % 61
5 3,323 52% J»ne28 69% Jan 12 39% Mar 58% N ov
60 Si 61
60%
6 L Utah C on (G o ld ) . . . . .
6 J ’ ly 13
9% M ar 14 cl May t7 % O ct
7
7
*6%
7%
75
*6%
7%
6%
6% V i c t o r i a ........................ 25
4 J ’ly 3 10 M ar 19
120
7 % D ec 15 % J? eb
8%
7
7
W in o n a .... ............... ....
25
7%
* 7 % .........
159 159
168 160
321 13L J a n 3 0 L60 A u g 3 l 105 Jan 3 34 D eo
W o lv e r in e ................... 25
157 158
158% 160
1% Jan 26
2% F eb
1% J ’ ne
100 •70 J ’ly 19
1
* %
1
* %
1
1
1 W y a n d o t........................ 25
107

107
io i%
218
151
23^%
165%
.......
.........
36
83

* ......... 119

10

'luef-'tay
Ser)t 4

STOCKS
BOSTON STOCK
EXCHANGE

*9 Si 10
1
67% 6S%
46
46 ’
6030 60 %
*64
6%
7%
7%
1
1
159 " 1 6 0
* 3 4
1 1
<s B e fo r e p a y ’ t o f assess’to ca lle d in 1 9 9 5

d Before pay’t of asses*’to called in

1954,

* B id a a d asked. jj

3,32(J
43
49
4 75
JO
90
.........

86

N e w c t o o * . t A s s ’ opauL

t & x -n g h t e , a B x-div.<fc ri^ iitc

S e p t . 8 1906.]

555

Boston Bond Kecord.
>»

6 U iM > s
BOSTON STO CK K X C H ’ GE
w k k k endlng sh p t 7

*0 C

Am Bell Telephone 4 s -----1908
Aiu Telep <& T el roll tr 4 8.1929
A m W rit Paper 1st s 1 5s e 1919
A tell A Nebraska 1st 7 s ..1 90 8
AtcliTon A 8 Fe gen g 4 s .. 199.»
Adjustm ent g 4 s___ JTy 1995
Boston Elect Light 1st Os. 1908
Co 1180 1 OS............................1924
Boston A Lowell 4 s ............1907
................................. 1916
4s
Boston it Maine 4 Sis......... 194 1
Boston Terminal 1st 3 4 s . 1947
Bur it Mo Kiv ex Os........... 1918
Non-exem pt Os................. 1918
Sinking tund 4 s ............... 1910
Butte A 1Boston 1st Os___ 191 .
Cellar Rap A Mo R 1st 7 s. 1910
2 6 7 s ..................................... 1909
Cent Vermt 1st g 4 s ..M a y 1920
0 B it ^ Lowa D iv 1st 5 s. 1919
Iowa D iv 1st 4s ............1919
Debenture 5 s............... ...1 9 1 3
Denver Exten 4 s __ . .. ..1 9 2 2
Nebraska E xton 4 s ........1927
B A 8 W s t 4 s ................... 1921
Illinois Div 3 4 s
..........1949
Joint bonds S e e G t Northern
Chic Jc Kv it Stk Yds 5s .1 91 5
Coll trust relunding g 4 s l 9 4 0
Ch Mil A St P Dub D Os.. 1920
Ch M & St P W is V div 681920
Chic A N o Mich 1st gn 58.1931
Chic A W Mich gen 5 s___ 1921
Concord A Mont cons 4 s .. 1920
Conn & Pass K 1st ^ 4 s ... 1943
Current River 1st 5 s ......... 1927
Det Gr Rap tfe W 1st 4 s __ 1940
Dominion coal 1st s f 5 s ..l 9 4 o
Plastern 1st gold Os............. 1900
Fitchburg 5 s .........................lu o s
4 s ...........................................1915
4 s .......................................... 1927
Fremt Elk A Mo V 1st Os.. 1933
Unstamped 1st Os........... 1933
Gt Nor C~B «fe Q coll tr 4s 1921
Registered 4 s .................... 1921

J -j
J -J
j -j
M- 8
AO
N ov
MS
M-S
J -D
J-J
J-J
F-A
J-J
J-J
J-J
A-O
M-N
J-I)
Q-F
A-O
\o
M-N
F-A
M-N
M-S
J-J

P rxce
F rid a y
S ept 7

J -J
0~J

Bang*

^c
sin c e
* * Jan u ary 1

H i g h J\«
6
984
99
*>•>
914
92
92
If **‘5 4 M av’OO
104
Mar t 0 . - .
100 4 1 0 0 V W 2 4 A u g ’00 . . . .
95 .........
95 7e A u g ’06
........
....
....
110 F e b ’04
104 G A p r ’00
1 0 1 4 May’ Oo
114 M ar'o 6
112 4 Jan ’03
1 0 7 4 A u g ’ 06
107 4
102 S e p ’05
9 9 '8
99 4 J’ ne'OO __
100 J ’ne’01
199
129 J’ ue’05
111 4 J T y ’05
1
88
8S
87 4 88
109 Mav’05
101 A u g’ OO
IO2 4 JTy ’00
1024
j
99 4
w
9 9 7p
1 0 2 7$ J’ ne’06
99 JTy 00
9 0 4 9 0 4 91 A u g ’ OO

B in
99

J-J
A-O
J- J
J -J
M-N
J -D
J -1)
A-O
A-O
A-O
M-N
M-S
M-N
M-S
M-S
A-O
A-O

W ee k ? $
R a n g e or
L a s t .sa le

A Sk IsO-io

L ow

MOM#!*
BOSTON ST O C K K X C H ’ G E
W kkk E nding s e p t 7

H id

H ig h

Illinois Steel dehen 5 s ___ 1910
Non-convert-debeu 5 s ... 1913
la Falls A sioux C is t 7 s .. 1917
Kan C Clin A Spr 1st 5 s . . . 192.»
Kan C Ft 8 A Gult 1st 7 s .. 1908
Kan C Ft Scott A M Os___ 1928
Kan C M A B gen 4 s ........... 1934
Assented income 5 s ........1934
Kan C A M Ry A Br 1st 5 s l9 2 9
101 *4 101 A» Kail CSt Jo A C B 1st 7 s .. 1907
Maine Cent cons 1st 7 s ... 1912
114 114
Cons 1st 4 s ........................ 1912
Maro Hough A Out 1st Os. 1925
I 0 74 1 1 1 4
Mexican Central cons 4 s .. 1911
1st cons 111c 3 s ............Jan 1939
99
99 7e
•d cons ino 3 s ........... Jan 1939
M icli Telep cons 5s tr rec. 1929
Minne Gen Elec con g os 1929
New E n g Cot Yarn 5 s ___ 1929
S7
90
New E n g T elep li Os............1900
O s ...........................................1907
100 101
6 s ...........................................1908
102 *o 101
5 s ...........................................1915
99 ” 100 4
1o2 78 105 4 New England cons g 5 s ... 1945
Boston Term 1st i s ........1939
97 4 9 9 4
91
941, Old Colony gold 4 s ............. 1924
Ores Ry A N av con g 4 s . . 1940
Ores Sli Line 1st g Os........1922
1044
1044
104 4 lo 104 4 107
99 4 J T y ’ 00
97 4 99 4 Repub Valley 1st s f O s... 1919
Rutland 1st con gen 4 4 s . 1941
122 A p r ’06
122 1 2 4 4
Rutland-Canadian 1st 4s 194 9
120 F eb *05
Savannah Elec 1st cons 5s. 1952
L03 A u g’ OO
103 103
101
_ 101 105
Seattle Elec 1st g 5 s ..........1930
I u l 4 1 0 1 4 A ug’ O
ierre H aute E lec g o s ....1 9 2 9
1 0 1 4 J’ne’OO
1014 1014
Torrington 1st g 5 s ........... 1918
1 1 2 4 J a n ’ 03
Union Pac R R & 1 gr g 4 s. 1947
100 J ’ue’06
100 106
90
Ang'iih
1st lien conv 4 s ................. 1911
90
97
93
United Fruit conv gen 5 s. 1911
99
99
99
1 99 101
U S Steel Corp 10-60 yr 5s. 1903
100 A u g ’ OO
100 101
W est End Street R y 4 s .'...1 9 1 5
103 4 Sep '05
Gold 4 4 s .............................. 1914
103 4 A pr ’ 05
Gold debenture 4 s ............1910
994 1 0 2 4
9 9 4 Aug*00
Gold 4 s ..................................1917
1 3 7 4 A p r '06
137 1 3 7 4
Western Teleph A T el 5 s. 1932
140 Apr*05
97 ^ Sale
97 4
97 4 15 9 6 4 101 a4 Wisconsin Cent 1st gen 4 s l9 4 9
97 4 A u g ’06
9 0 °b 1 0 1 4 Wisconsin Valley 1st 7 s .. 1909
964
Sale
sale

P r ic e
F rid a y
Sept 7

•> •>

98 4 100
90
95
v > 5 4 s s 34
104 104 4
9 9 a.| 110*4
9 3 4 97

N otk — B uyer pays accrued interest, in addition to the purchase price for ail Boston Bonds.

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

W eek * s
R a n g e or
L a s t S a le

/ f* •) ns
Sc
4 >.

H ig h A<
lo l
101
1
10 L
101
n
128 4 J’ nt D l
97 '1 A iiii’e*105 4 51 ur’OO . . . .
1 1 7 4 JTy * 0
90 4 JTy *06
93 4 A u g 1to
1 0 1 J ly Mr ;
1 00 *.2 A u g ’O
115 A p r ’00
1 0 1 4 Sep ’ 0 .
1 1 s , A ' 0.1
1i76 A u g ’ l'6
19 4 J’ ne’ Oi,
1 24 \
75 J’ne’ 03
102 4 Aug*04
5
97 4
974
100 4 Oct ’05
loo J T y ’00
L01 J’ ne’ oO
1 0 6 4 A p r ’00

A sk L o w

101
Sale
101 Sale
.....................
97 4 100
......... 10 1
117 4 U 8
....... .
......... 93 4

75
18

76
20

97 4 Sait

71213s M ar’ OO
......... 103 Jan 0
»07 4 N ov’ o.
102 M a i’02
98 4 May’OU
104
105
104 4 A u g ’ oO
102 D e c ’O
100 J a n ’ 06
7103 V A u g ’00
MOO 4 \ p r’06
109 1 1 0 4 109 J Ty ’06
1]9S\ A u g ’ oO
1 0 0 4 ......... 1 0034 A iig’ OO
103 " J T y ’06
1 0234
100 4 ..
1 0 2 3g Jan 00
100 ......... 101 J T y ’ 00
101 Sale 1 0 0 4
101
13
1194 4 Sep ’ 05
1 0958 A ug’ 05

102

J -J
J -J

x N o price Friday; latest bid and asked.

1

Low

n ajh»

100
loo

1014
101 ^

974

105 4
1.1 / 4
90 4
92 4
100
1DIM..
115

] 00

100
123
99
94
104
102
115

754
19 4

97

4
4
4
4

84
25 4

100 ‘

100
10 l 4
l .) 1 4 1 0 1 4
104 107
lu i 4 1 0 1 4

1 0 1 4 A p r ’ 06
11024 Jan ’ 05

J-J

sin c e
Jan u ary

11214 71214
103 103 '
9b
104

9S4
109

100 100
109. 4 04 4
IlfRl U. 1ftrt
107
1124
1190 ^1004
ioo U 102
109 »w103 4
lO
*>3o109 3a
10 1 109 4
99 4 103 4

1 Flat price.

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h a r e l^rices — N ot P e r C en tu m P r ic e s
S atu rn ay
S ep t 1

*264
•

28
57

♦ 5 3 4 54
3 5 4 35 4
1 1 4 114
84
*b
39
*38
* 1 7 4 18 4
* 1 0 7 4 109
794 804
14
14
7 0 i4 e 7 1 ^
49
494
84
b 8*
*2 9
294
6 3 4 68
*45
45 4
*4 5 4 40
6 4 4 04 4
8 0 4 8 6 *v

JJonaa-y
S ep t J
•
•
»•
•
•
!
•
•
•
•
t
•
It*
>
cd
c
W
Q

•
•
•
•
•
•
•
•
•
•
•

P L H L A D iM -l't llA

J u esa a y
S ep t 4

W ed n esd a y
S ep t 5

A C T IV E S T O C K S

T h u rsd ay
S ep t 6

( F o r B o n d s a n d I n a c tiv e
S tocks see b elo w )

F r id a y
S ept 7

S ales
of the
W eek
Shares

R a n g e f o r Y ea r
1906
L ow est

R ange to r P r e v io u s
Y ea r ( 1 9 0 5 )

H ig h est

H ig h est

Low est

B a ltim o re
105
105
* 2 5 34
*80
9o
*65
56
* 1 4 4 15

*■104 4 1 0 5
r •••••• 2 7
*144

*1044
*

1 4 7«

*14 4

C o n s o lid a t e d G a s ............ 1 00
N o r t h e r n C e n t r a l .......... 50
*104
105
2 5 4 2 0 4 s e a b o a r d ( n e w ) ...............,1 0 0
274
*85
90
Do
1 st p r e f ...............1 00
57
Do
2 d p r e f ...............100
*55
U n ite d R y & E l e c t r i c . . 50
* 1 4 4 15
144

18
350

82
J ’n e 7 9 2
J’ne20
J T y ;; 107 4 J a n 29
97
2 5 7f. S e p 7 3 2
J a n 17
J T y 18 9 1 4 iSlar30
86
50
M a y 8 62 ^2 J a n 5
15
J a n 8 19
J an , 5

S3
99
214
83
474
12 4

90
Apy
M a;
Ma> 1 1 0 4 S e p
34 ' I)eO
Jan
M a i 91 4 N OT
04
D eo
Jan
18
M a*
Api

P h ila d e lp h ia

3 0 51
M a r 15 5 4
52
52
J a n 27
524
5 1 4 5 1 4 A m e r ic a n R a i l w a y s ___ 50
3 7 4 3 8 4 C a m b r ia S t e e l .................. 50 3 8 ,0 0 3 3 0 4 J a n 5 3 8 4 S e p 7
304 374
364
M a y 9 12 ^ J a n 10
11
11
1 1 4 1 1 4 E l e c t n o C o o f A m e r i c a 10 1,371
114 114
93.
A a p h f t .lt t r C t l s
100
8
J T y 1 2 14 J a n 4
10
*9
*8
9
34
39
D o p r e f t r c t f s . . . . 100
J T y 10 4 8
39
*30
89
*37
J a n 19
1 7 7g 1 7 4
1 7 4 1 7 4 L a k e S u p e r io r C o r p ___ 1 0 0
6 5 b 17
J T y 13 2 3 4 J a n 15
17 4
174 174
*
10b
n o
10 i o n . M a y
10s
L e r u g li C 6c N a v t r c t f s . 50
118
J a n 19
LOO 4 * .......... 1 0 9 4 *1 07
M ay 2 86
81
J’ne 8
80
bl 4
8 1 34
7 9 4 79 4
8 0 4 8 1 4 L e h ig h V a l l e y .................. 50 10,0 6 65
1 4 M a r s d e n C o ........................ 1 00
v'5 j
l U> A u g 3 1 3 15 ir J a n 10
14
14
14
71
7 0 4 71Ri0
7 1 4 P e n n s y l v a n i a R R .......... 5 0 4 ,8 3 1 6 1 4 J T y 3 73H J0 J a n 22
714 714
7 1 * ie 7 1 4
A p r 20 a5 4 ‘2 M a r 20
* 4 9 ^2 5 0
4 9 ^2 4 9 4 P h ila d e lp ’ a O o ( P i t t s b ) . 50
107 47
*49 4 50
49 4 4 9 4
b - P h ila d e lp h ia E l e c t n c t . 25 1 ,5 1 2
7 4 J a n 11
b4
b
8 4 A ug27
84
8 4
84
84
84
29
29
P h ila R a p id T r a n s i t u . . 5 0 1 .8 5 0 § 2 4
J ’ n e l o § 3 i l4 J a n 2 <
28
2 b 34 2 9
2 » 3«
28 \ 2 8 4
69
69
J a n 23
70 4
7 i 3i0 7 2 716 R e a d i n g .............................. 50 6 9 , / 3 5 5 0 ^n M ay 3 8 3
704
7 04 714
4,-n u A n r 1 i - 41 i5 ie J a n 23
t 45
*4 5
4 5 *v
D o 1 s t p r e f .............. 50
4 5 4 *4 5
*45
45 4
454
D o 2 d p i e f ................. 50
*45
40
*45
*45 4 4 6 4
J a n 23
40
*4 5
40
4 4 4 M ay 2 51
9 9 6 1 4 M a r 2 b 65
A ug2.
«54
04 4 04 4
04 4 6 4 4
04
0 3 4 64 4 U n io n T r a c t o n ................ 50
86 4 8 6 4
h5 ^ 8 6 4
8 5 4 S o 4 U n ite d G a s l u i p t ............ 50 2 ,8 6 2 1Tb l 4 M a y lO 101
F e b 15
8 0 4 80 4
*2 5
29
W e is b a c li C o .................... 1 0 0
M ar 1
2 9 3i A u g l l 3 2
..........
*52
3 5«4
114

52 4
364
114

B ia

A sk

in a c tiv e M o c k s
Allegheny Val pref___ 50
American Cem ent........lo
74
74
Aoner Gas of X J ........lou
Beil Telephone____ __ 5u *57*
Cambria iro n .................50
4 94 *494
Central Coal 6c Coke, lo o
Consol Trac of N J ...1 0 0
Diamond State S te e l.. 10
4
4
P re fe rre d .................... lo
Easton Con Electric 5.5u
30
Elec Storage Batt___ lu o
70
72
Preferred...................lou
F t W ayne 6c W V ........luo
German town P a s s .__50
Indianapolis S t........... lou
........ .........
Indiana Union I T ___ 1UU
Insurance Co ol N A ..1 P
22 4 23
Inter Sm Pow 6c Cheru.50
Keystone Teie|>hone ..5 o ” 1 2 ” i T ‘
...............
K eystone W atch Case, lou
Lit Brother^............... i u
16
Little Schuylkill........... 50
M.nehiii 6c Schuyl H ..5 0
N H aven iron 6c s t e e l.5
24
Northern Central......... 50
.........
North P ennsylvania..5 0
Pennsylvania s a lt ___ 5o
111
Ii2
Pennsylvania S t e e l..lo o
P referred............... 1 uo
Phila Co ( Pitts, j r e l...5 o ’ *4*9** * 49 e
Phil German 6c N orris . 60 1.V0 *v 1 5 7 4
Phila Traction...............50
99 4 100
Ran way 0 General........lo
Susqueh Iron dc s te e l...
1
14
Tidewater Steel........ lo
1
4
P referred .........
in
24
Tonopah M ining of N ev l
18
lb 4
Union T r 0! Jnd......... loo
United N J K it dfit C .. lot# 258
U nit Trac Pitts p re l..5 o
*5*1“
W ar w i c k Iron 6c ste e l. 1» j
04
04
6s
62 4
Westmurehmu Coal....5<
93
W ilkes Gas A E »•* ..) u

52
364
11
*9
*3 6
174

I'H I L A D E L P H 1 A

B id

A sk

B on d s

A1 V al E ext 7s 1910 A -O
A lt <fcXTVEleo 4 4 s ’ 3 3 .F -A
A iu iiy scou v 5s l u l l .J - D 101
A tl City 1st os g'19-.M -N
Balls Ter 1st os 1920. J-L)
Berg& EBrw 1st Os’ 2 1 J-J
Betlile Steel Os 1998.Q-F 119
Che & D Can 1st 5s ’ 10 J -J
Choc 6c Me 1st 5s 1949 J -J
C h O k & G gen 5s T 9 J-J 105
Col St Ry 1st con o s 1902
C on T ra cof N J 1st 5 s.’ 30
E & A 1st M 59 192U M-N
Elec 6c Peo Tr stk tr c t ls
99 4
Eq II Gas-L 1st g 5s 192b
H & B Top con 5s ’ 25 A -O 105*
Indianapolis R y 48.1900
07
Interstate 43 1940 ..F -A
Lehigh N av 4 4 s T 4.Q -J
K H s 4s g ........1 9 1 4 .Q-E
Gen M 4 4 8 g . 1 9 2 4 . Q-F
Leh V C 1st os g '3 0 . . J-J
Leh V ext 4s 1st 194b.J-D
2d 7s 191U................ M -S
Consol Os 1 9 2 0 .......J-D
A n n u ity Os........,.. .J - D
Gen cons 4s 2U43.M-N'
Leh V Trac 1 s t 4 s ’ 2 9 . J-D
N ew Con Gas 5s 194b J-D
Newark Pass con os 190U
N Y Ph«fe N o 1st 4 s ’09 J-J
Income 4s 1 9 0 9 . ..M-N
N ooh ioT rac cohos’ 19. J-J
No Penn 1st 4s ’ 0 0 ..M -N
Penn gen 6s r 1 9 1 0 .. Var
Consol os r 1 9 1 9 ... Var
Penn 6c Md Steel con Oh.
Pa 6c X Y Can 5s '3 9 .A O
Con 4s 1 909............. A-O
Penn Steel 1st o s '17 M-N
People’ s T r tr cert s 4s ’40
P Co ls tA coi tr 5**49 M-Si
C on A col tr os 1951 M -N
Plnl Eiec gold trust ctls.I
Trurtt certils 4 s ...............|

* B id and a sa e d p rices; no s<u©3 o c th is d ,jr.

\

K x -n g h u .

102

120
114**
1054

9 9 34

B A L T IM O R E
67 4

..... 1< 8 4
112

.......

110 4
....... 124
99

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

1084 . . . . .

.......

___

..... Tots
.......107 S
100
101
.0

P 6c E ger M 5 g ’ 20 A-O
Gen M 4s g 1920 Atfco
Ph 6c Read 2d 5s *33. A-O
Con M 7s 1 9 1 1 ........J-D
Con M 6s g 1911
J-D
E x Im p M 4s g ’4 7 .A-O
Terminal 5s g 1 9 4 1 .Q-F
P W 6c B coi tr 4s ’ 2 1 . J-J
Portland R y 1st 5s 1. 3 0 .
Roch R yA L con 5s ’ 54J-J
U Trac ln d gen 5s’ 19.J-J
Un Rys T r ctls 4 s’ 49J&J
U Trac Pit gen 5s ’ 97 J -J
Welsbach s f 5s 1 9 3 0 . J -D
W lks-B G A E coil5s’ 5 5.1 -.1

I n a c tiv e S t o c k s

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

9b4

P H IL A D E L P H IA

loO 4

102

7 0 ‘«

y * 7.60 paid.

A la Cons Coai& lio n . 100
P r e i......................
100
Atlanta A C h arlotte..lo u
Atlan Coast Line RR. lou
Atlau Coast L (Conn)lOU
Canton Co.................... 100
Cons Cot D uck C o r p ...50
P referred .................... 50
Georgia Sou & F i a ...l 0 0
1st pref...................... 100
2d prel........................ 100
G -B-S B rew ing............100

B on d s

A nacostla 6c Pot 5s
A tl 6c Ch 1st 7 ...1 9 0 7 J-J
A lla n C L R R 4s 1 952M-S
A ll Coast L (C t)ctfs5s J -D
Ctfs of ludebt 4 s ___ J-.J
5-20 yr 4s 1 9 2 3 ......... J-J
Ball C Pass 1 st 5 s '11 M-N
Balt Fundg 5 8.1 9 16 M -N
Exchange 3 4 s 1930 J-J
Bait 6c P 1st Os m i ’ l l A-O
1 m i l

1 1 <|U 1 B l U S , .

^ J . U •aN

No Balt Div 5s 1942 J-D
Convertible 5 s .’ 00 M-N
Cent'! Ry con 5sI032 M-N
E x t 6c 1nip 5». 1932 M S

f *15 paid.

4 $10 paid.

B id

A sk

‘ 48
Jan
2 4 4 M ay
10 4 J a n
8 4 D ec
30
N ov
1 4 4 M a)
100 4 J T y
52 4 J a h
2 4 D ec
6513i0 .Via)
4 0 4 Jan
8
J ’ne
1 1 7 34 J a n
3 9 4 Jan
45
M ay
42
Jan
5 8 14 M ar
90
J ’ lie
20
F eb

5 4 4 A pr
32
D eo
1 2 4 F eb
17 4 J a n
49
Jan.
25 4 M a r
123 4 N o v
90 4 N o v
5 4 J an.
73 4 A u g
55 4 N o v
12 4 A p r
§30
Apr
711*16 N o t
47 4 A u g
5 0 4 N ov
03 4 O c t
1 2 5 4 A pr
31
N ov

B A L JLT.MORE

B id

Chas City Ry 1st 5s ’ 23 J-J

104

Chari C 6c A ext 5 s. ’09 J -J 110
2d 7 s .......................... 1910 A-O
112
113 4
City 6c Sub 1st 5s ’ 22 J-D 1 1 0 4
1 0 4 4 City 60 Sub( W a s )l8 t 5 s’4b 102 4
121
Coal 6c 1 R y 1st 5 s ’ 20F -A 103
Col <feGrnv 1st Os. 1910 J-J 112 4
10 L4
. . . .
Consol Gas O s ...1 9 1 0 J-D 1U5
104
108
5 s ........................ 1939 J-D
97
Ga<fc A la 1st con 5s ’ 45 J-J 109 4
87fts Ga Car 6c N 1 st 5s g ’ 29 J -J 10 J
86
Georgia P 1st O s ...’22 J-J 119
. . . ...............
73
*72
UaSo 6c Fla 1st os 1945J -J 111
(-r-B-S Brew 3-4s 1951 -M-S
00
2d income 5s 1951 M -N
36 4
Knox v Trac 1st 5s ’28A-O 105
LakeR E l 1st gu 6s’ 42M -S 115
M etS t(W a sh )ist5 a ’ 2 5F A 110
90
93
M t Ver Cot Duck 1st 5s.
83 4
leO
Incomes ............................
NptNc&U P 1st 5s’ 3b M-N
95
330
35 5
General 5s-----L941 M-S
93
95
13
13 4 N orlolk St 1st 5 s ’4 4 . . J-J 10b
North Cent 4 4 s 1925 A-O 109
35
36
Senes A 5s 1 9 2 0 ___ J -J 114
30
113
Series B 5s 1 9 2 0 ___ J-J
90 • 100
109
Pitt
Un
Trac
5s
1
9
9
7
.J-J
93
115
Polo Val 1st 5s 1 9 4 1 ..J-J 111
9 4 10
Sav F la & W e s t 5s ’34 A-O 114
Seaboard A L 4 « 1950 A-O
80 4
104
Seab 6c Roan 5s 192G.J-J 112
105
South Bound 1st 5 s .. A-O 110
101
94
98
9 9 4 U El L& P 1814 4 s ’29 M-N
89
U u Ry 6c El 1st 4s ’49 M s
109
09 4
income 4s 1 9 4 9 ..............J-D
100
Va Mid 1st Os 1 9 0 0 .. M-.s . . . . .
b9 4
2d series Os 1 9 1 1 ...M s 105
1034
3d series Os 1 9 1 6 ..M-S 1 1 1
1 10
112
4th aer 3-4-58 1 9 2 1 .M-S 1 12
10 24 103
5 th series 5s 19 20 . m -> 100
108
1 10
93 4
11/
94 4
Fund debt 2-38 1991 . J -J
117
119
W est N C con Os 1914 J-J ] lu
W es Va C A P lHtOg’ J 1 J-J luO l4
1124
Wil A W eld 5 s ..1 9 3 j .J-J 1 14
113

A sk

93

. . . . . .

^ 320 paid.

a

R eceip ts.

5 326 paid.

1114
103 4
iu4
114
100
1 10 *
110
113
<50 4
37
- - - . -•
84
100
112
-

--•••
*•••#
8 8 34

•--•••

96
■9 4
70

••••
• • • •••

............ •

11 a

107
118

THE CHRONICLE.

556

Volume ot Business at Stock Exchanges
T R A N S A C T IO N S A T T H E H E W Y O R K STOCK
D A IL Y , W E E K L Y A N D Y E A R L Y

Stocks

Week ending
Sept. 7

Par value

Shcures
S a t u n l a y ..............
M onday
T u e s d a y ................
W edn esday
T h u r s d a y V...........
F r i d a y ..................
T o t a l ..................

4 2 6 ,2 0 9
1 ,3 5 2 ,3 1 6
1 ,1 6 9 ,1 8 9
1 ,2 7 3 ,4 2 6
1 ,1 1 6 ,8 6 4

IJ S
Bonds

$ 5 8 1 ,5 0 0
$ 3 9 ,2 3 8 ,4 0 0
. H O L I D A Y ..............
1 2 0 ,9 3 0 ,1 0 0
2 .3 8 5 .0 0 0
2 .2 8 1 .0 0 0
1 0 4 ,1 4 8 ,9 0 0
2 ,6 3 8 ,0 0 0
1 1 0 ,0 3 0 ,0 0 0
1 ,7 2 7 ,5 0 0
9 7 ,5 7 0 ,8 0 0

$ 7 2 ,0 0 0

$ 9 ,6 1 3 ,0 0 0

$ 4 7 1 ,0 0 0

1900

6 6 ,0 0 0

9 0 ,5 0 0
1 3 3 ,0 0 0
1 0 9 ,5 0 0

- mum, mmm
$ 2 ,0 0 0
$ 2 ,0 0 0

January 1 to Sept. 7

Week ending Sept. 7

at
New York Stock
Exchange

State
Bonds

Railroad Jrc
Bonds

5 ,3 3 8 ,0 0 3 $ 4 7 1 ,9 1 8 ,2 0 0

S a te s

EXCHANGE

1905

1905

1906

1 7 5 ,7 0 7 ,4 2 6
2 0 1 ,8 6 6 ,4 3 1
3 ,8 0 8 ,2 6 6
5 ,3 3 8 .0 0 3
S to c k s — N o. sh a re s
P a r v a iu e .......... $ 4 7 1 ,9 1 8 ,2 0 0 $ 3 6 5 ,0 7 9 ,6 0 0 $17,925,718,200 $16,290,835,325
^ 5 3 8 ,0 0 0
$ 3 7 1 ,4 0 0
$ 7 ,0 0 0
$ 2 ,0 0 0
B a n k sh a res, p a r ..
BO N D S
$ 1 ,4 1 2 ,0 0 0
$ 4 0 6 ,4 0 0
$ 1 1 ,0 0 0
$ 2 ,0 0 0
G o v e rn m e n t bonds
1 4 3 ,6 9 1 ,1 5 0
5 3 ,6 4 3 ,0 5 0
$ 5 ,7 5 9 ,2 0 0
4 7 1 .0 0 0
S ta te b o n d s _______
6 0 5 ,4 3 0 ,6 0 0
4 4 0 ,5 9 8 ,3 0 0
8 ,8 8 1 ,8 0 0
9 ,6 1 3 ,0 0 0
R R . a n d m is. bon d s
T o ta l b o n d s ___
D A IL Y

$ 1 0 ,0 8 6 ,0 0 0

$ 1 4 ,6 5 2 ,0 0 0

$ 4 9 5 ,6 5 3 ,3 5 0

$ 7 4 9 ,5 2 8 ,1 5 0

T R A N S A C T IO N S A T T H E BO STO N A N D P H IL A D E L P H IA
EXCHANGES

Week ending
Sept. 7
iy o b

Listed
shares

Unlisted
shares

1 3 ,4 4 2

4 ,1 2 5

30,17*4
2 3 ,4 3 0
3 2 ,9 3 5
3 8 ,8 1 3

8 ,5 3 0
2 0 ,1 5 2
2 0 ,9 9 9
1 2 ,5 7 1

T o t a l............ 1 3 8 ,7 9 4

6 6 ,3 7 7

S a tu rd a y ........
M onday . . . . . .
T u e s d a y ..........
W edn esday. .
T h u r s d a y ........
F r i d a y .............

Philadelphia

Boston
Bond
sales

Unlisted
shares

IAsted
shares

$ 2 0 ,0 0 0
4 ,2 2 7
........H O L I D A Y . . . .
3 ,5 0 0
2 2 ,9 78
1 5 ,0 6 6
2 1 ,0 0 0
5 3 ,2 i 6
2 8 ,0 0 0
3 9 ,1 6 0
1 6 ,0 0 0
$ 8 8 ,5 0 0

1 3 4 ,6 4 7

S e c u r itie s
J a c k s o n G a s 5s g ’ 3 7 . A - 0
K a n sa s C ity G a s ..........100
11L a c le d e <*aa............ 1 0 0
HP r e fe r r e d
100
L a r a y 'e G a s ls t 6 s ’ 2 4 .M -N
Logtfe W a b V ls t G s ’ 2 5 .J -D
Madia* n G a s 6 s 1 926. A -O
N e w a r k G a s 6s 1 9 4 4 .Q-J
N e w a r k C o n s o l G a s .. 100
HCon g 5s 1 9 4 8 ........J -D
N o H u d s o n L H So P o w —
o s 1 9 3 8 ....................... A -O
HO<fc I n d O N a tc fe 111 . 1 0 0
1st 6 s 1 9 2 6 ............... J -D
P a t So P a s G as So E le c 100
H C o n g 5s 1 9 4 9 . . . . M -S
S t J o s e p h G a s 5s 1 9 3 7 . J-J

£ X X III.

B id
§ 95
45
38
35
§104
§131
89
107
§1 0 8
2
29
67
§1 0 0
* ..........

Telegrr A: T ele p h o n e
H A m erT eleg < fe C a b le 100
H C entral So S o A m e r . 100
C o m m e r U n T e l (N Y ) .2 o
E m p So B a y S ta te T e l 100
F r a n k l in ......................... 100
11G o ld So S t o c k ............100
H u d s o n R iv e r T e le p li 100
1IN Y So N J T e l e p h . . . l 0 0
11N o r t h w e s t e r n T e ie g . 50
P a c ific So A t l a n t i c ........ 25
HS ou t h e m So A t la n t i c 25

90
140
119
75
45
117
86
126
120
75
95

E le ctric C om p a n ies
C h ic a g o E d is o n C o See C
IjK in g s C o E l L & P C o 10 0
N a rra g a n ( P r o v ) E l C o 50
N Y So Q E l L & P o w C o lO O
P r e f e r r e d ....................100
U n ited E le c t r i c o f N J 1 0 0
4s 1 9 4 9 .........................J -D

h ic a g o
#144
t 974
40
60
70
§ 71

F e r r y C om p a n ies
Bond
sates

2 ,4 4 0

$ 2 5 ,1 0 0

7,1*19
7 ,0 8 7
l o ,6 0 3
7 ,6 8 6

’ *” 8 6 ,5 0 0
8 0 ,0 o 0
7 0 ,2 0 0
1 0 0 ,0 0 0

3 4 ,9 3 5

$ 3 6 1 ,8 0 0

B r o o k ly n F e r r y s to ck lO O
B So N Y 1 s t 6 s 1 9 1 1 .J -J
N Y So E B F e r r y s t k . 100
1 st 5s 1 9 2 2 ..............M -N
N Y So H o b Con 5 s ’ 4 6 . J -D
H o b F y l s t 5 s 1 9 4 6 M -N
X Y So N J 2 d 5 s 1 9 4 6 . J-J
1 0 th So 2 3 d S ts F e r r y 100
1 st m o r t 5s 1 9 1 9 ...J - D
H U nion F e r r y s t o c k .1 0 0
111st 5s 1 9 2 0 ............ M -N

34
§ 98
65
87
§107
§109
§105
30
§ 80
26
90

R a ilr o a d

Outside Securities
A W e ek ly R ev iew o f O utside M a rk et w i ll be fo u n d on a p re ced in g p a g e.
S tr e e t R a ilw a y s

B id

A sk

S tre e t R a ilw a y s

H L o u isv S t 5 s 1 9 3 0 ..JcfcJ
L y n n & B o s 1 s t 5 s ’ 2 4 .J -D
H N e w O rl B y s So L g t .See
29
34
B le e c k St<fc F u l F s t k 100
90
HP r e f e r r e d .................. se e
94
H is t m o r t 4 s 1 9 5 0 ..J -J
235
H G e n M g 4 4 s ’ 35
See
UB’ y So 7 tli A v e s t k ..1 0 0 225
104
N o r t h C h ic S tr e e t See C
H 2 d m o r t 5 s 1 9 1 4 . . . J-J 102
P u b S e r v C orp o f N J 1 0 0
C o il 5 s 1 9 4 3 See S to c k E x c h list
108
T r c tfs 2% to 6% p erp et
B ’ w a y S u rf 1 s t 5 s g u 1924 n o e
325
C o ll t r u s t 5 s g o ld n o te s
U C ent’ l C r o s s t’ n s tk ._ 1 0 0 3 0 0
117
1909 o p t io n a l___ M -N
H l s t M 6s 1 9 2 2 .. .M - N § 1 1 4
200
N o r t h J e r s e y S t B y 100
f l C e n P k N So E R s t k .1 0 0 195
178
1 s t 4 s 1 9 4 8 ..........M -N
HChr’ t ’ r So 1 0 th S t s tk 100 170
C o n s T r a c o f N J ...1 0 0
C ol& 9 th A v e 5 s See S to c k E x c h list
1 st 5s 1 9 3 3 ............J -D
D r y D E B & B—
112
N e w ’k P a s B y 5 s ’ 30J-J
H is t g o ld 5s 1 9 3 2 ...J - D 108
99
102
R a p id T r a n S t B y . . 1 0 0
HS c r ip 5s 1 9 1 4 ___ F -A
400
1 s t 5s 1 9 2 1 ............ A -O
E ig h th A v e n u e s t k ..l 0 U 375
99
101
J C H o b So P a t e r s o n l 00
H S crip 6s 1 9 1 4 . . . . F - A
405
4S g 1 9 4 9 ............... M -N
H42d So G r S t F ’ y s t k . . 100 3 9 0
70
50
S o J G a s E l So T r a c 100
4 2 d S t M So S t N A V ..1 0 0
$105 5e
G u g 5s 1 9 5 3 ........ M -S
H l s t in o r t 6 s 1 9 1 0 .M -S 101
70
66
N o H u d C o B y 6 s ’ 14J-J
H2d in c o m e 6s 1 9 1 5 J-J
I n t e r b o r o -M e t r o p o lit a n —
5s 1 9 2 8 ......................J-J
E x t 5s 1 9 2 4 ____ M -N
C o m m o n . See S t o c k E x c h a ’ g e lis t
P a t C ity c o n 6s ’ 3 1 . J -D
P r e fe r r e d . See S t o c k E x c h a ’ g e lis t
2 d 6 s .. ..1 9 1 4 o p t A -O
4 4 % o o n d s . See S t o c k E x c h lis t
S o S id e E i (C h ic )
See C
L e x A v So P a v F 5 s See St k E x c list
M e t r o p o i S e c u r it ie s See S tk E X lis t S y r a c u s e B a p T r 5s 1 9 4 6
M e t r o p o l s t r e e t B y See S tk E X lis t T r e n t P & H 5 s 1 9 4 3 J -D
18o
U n ite d B y s o f S t L —
N in th A v e n u e s t o c k . 100 170
203
C om v o t t r c t f s ........ 100
S e c o n d A v e n u e s to ck lO O 195
103
HP r e f e r r e d .................. 100
H is t m o r t 5s 1 9 0 9 M -N § 1 0 0
113
G e n 4 s 1 9 3 4 ___ See S tk
C o n s o l 5s 1 9 4 8 ----- F -A § 1 1 1
174
U m t B y s S a n F r a n /S'eeStk
flS ix th A v e n u e s t o c k 100 170
104
W a s h B y So E l C o ___ 1 0 0
S o u B o u le v 5s 1 9 4 5 ..J -J § 1 0 0
106
P r e f e r r e d ........ .......... 100
S o F e r 1 s t 5s 1 9 1 9 .. . A - 0 §102
4 s 1 9 5 1 ........................J -D
T h ir d A v e n u e See S to c k E x c li List
107
HW e s t C h ic a g o S t ___ 100
T a r r y W P So M 5 s 1 9 2 8 § 1 0 4
108
HCon g 5 s 1 9 3 6 ....M - N
Y k e r s S t B B 5 s 1 9 4 6 A -0 §105
1054
2 8 th So 2 9 tli S ts 1 s t 5 s ’ 96 § 1 0 2
G a s S ecu ritie s
400
HT w e n t y -T il’ d S t s tk 100 380
N E W Y O R K
no
U n io n B y 1 s t 5 s 1 9 4 2 F -A § 1 0 0
in
C e n t U n G a s 5s g ’ 2 7 .J & J
W e s t c h e s t 1 s t 5 s ’ 4 3 J -J §109
N E W Y O R K C IT Y

B R O O K LY N
A tla n A v e 5s 1 9 0 9 ..A -O
C o n 5 s g 1 9 3 1 .......... A - 0
B B So W E 5s 1 9 3 3 ..A -O
B r o o k ly n C ity s t o c k .
C o n 5 s See S t o c k E
B k l n C r o s s t n 5 s 1 9 0 8 .J -J
B k n H g ts 1st 5s 1941 A -0
B k ln Q C o So S u b See S tk
B k iy n B a p T r a n See S tk
H C on ey Is. So B k iy n ..1 0 0
1 s t c o n s g 4 s 1 9 4 8 ..J -J
B r k C So N 5 s 1 9 3 9 .J -J
G x’ p t cfeL orim er S t 1st
K in g s C o. E le v a te d —
1 s t 4 s 1 9 4 9 See S t

§1 0 1
§108
98
226
lis t
100
103
E x c li
E xch
200
93
110
103

E x c li
65
105
os
k E xc
101
N W b ’ g So F la t 1 s t e x
S te in w a y 1 s t 6s 1 9 2 2 -J -J § 1 1 4
O T H E R C IT IE S

B u ffa lo S t r e e t B y —
§1094
§1 0 5
h ic a g o
C h ic a g o C ity B y
See
101
C o lu m b u s (O ) S t B y . . l (
109 4
P r e f e r r e d ....................1(
C o lu m B y c o n 5 s See 1 ila list
C r o s s t’ w n 1 st 5s ’ 33. J -D §105
G ra n d R a p id s B y ___
69 4
85
P r e fe r r e d ...................
h ic a g o
L a k e S t (C h ic ) E l
S

N e w A m s te r d a m G as—
1 st c o n s o l 5s 1 9 4 8 ..J -J
in
N Y So E a s t R iv e r G a s—
1 st 5 s 1 9 4 4 .................. J-J
1004
230
C o n s o l 5 s 1 9 4 5 ..........J-J
N Y So R ic h m o n d G as. 100
103
N o r U n 1 st 5s 1 9 2 7 .M -N
H Standard G a s c o m ..1 0 0
list
HP r e f e r r e d ................ 100
list
1 st 5 s 1 9 3 0 ............CM -N
220
O T H E R C IT IE S
96
113
A m e r L i g h t So T r a c t . 1 0 0
P r e f e r r e d .................... 100
B a y S ta te G a s ................ 50
list
B in g h a m t o n G a s 5 s 1 9 3 8
75
B r o o k ly n U n io n G a s d eb
109
6s 1 9 0 9 c o n v ’ 0 7 .. .M - S
h lis l B u ffa lo C ity G a s stock lO O
104
1 st 5 s 1947 See S t o c k
115
C on sol Gas o f N J —
1 s t 5s 1 9 3 6 . . . . ..........J-J
C o n s u m e r s ’ L H So P o w —
5 s 1 9 3 8 ..........................J -D
E liz a b e th G a s L t C o .. 100
111
E s s e x So H u d s o n G a s 100
F o r t W a y n e 6s 1 9 2 5 .. J-J
list
G a s So EJ B e r g e n C o .. 100
102
G r a n d B a p id s G a s—
H is t 5s 1 9 1 5 ............F -A
H u d s o n C o G a s ............100
1 0 9 4 I n d ia n a N a t <V; i l l G a s—
1 st 6s 1 9 0 6 ...............M -N
744
90
I n d ia n a p o lis G a s ..........50
list
1 s t g 5s 1 9 5 2 .............A - 0

§ B u y e r p a y s a c c r ’ d in t. t P r ic e p e r sh. 4 S a le p r i c e

B id
§110
§ 107 4
S tk E
S tk E
S tk E
h ic a g o
100
69
§ 94 4
30
§ 76
78
§1 0 5
§1 1 0
240
§1 0 8
28
§ 73
115
§ 98
§110
§107
§100
§120
§ io o
h ic a g o
§1 0 6
§102

A sk
1 1 1 4

109
x lis t
x lis t
x li s t
lis t
104
70
95*2
78
80
106
112
250

C h io P e o So S t L p r e f. 100
D e p o s ite d s t o c k ..............
U n d e p o s it e d s t o c k ........
P r io r lie n g 4 4 s ’ 30M<fcS
C o n m t g g 5s 1 9 3 0 .J & J
I n c o m e 5 s 1 9 3 0 ...............
C h ic S u b w a y ................. 100
F o r t W o r t h So D e n v e r
C ity s ta m p e d ............100
N Y N H & H a r tfo r d —
C on deb 3 4 s 1 9 5 6 . J & J
N o r t h ’ n S e c u r itie s S tu b s
P e n n , g u g 4 4 % n o te s
N o v 1 1 9 0 7 ........... M & N
P itts B e s s So L E ..........50
P r e f e r r e d ..................... 50
R a ilr o a d S e c u r it ie s C o.—
I ll.C .s t k .tr . c fs .s e r . A ’ 52
S e a b o a r d A i r L in e —
C o ll tr 5 s 1907 o p . . . M -S
S e a b o a r d C o ___ See B a lt
Va<fc S o u t h w e s t e r n .. 100

2
‘j
90
50
10
53
95
§112
2 50
§ 99
t 33
t 72
90
E xcn
85

in d u stria l and MLiscel

A h m e e k M i n i n g .......... 25
A llia n c e R e a lt y ..........100
74
A lli s C h a lm e rs C o 1st m
120
S f o s ’ 36 o p t ’ 16 w i . J - J
101
A m e r ic a n C an c o m . . . i 00
P r e f e r r e d ................... 10 0
A m e r ic a n C h ic le C o .. 100
103
P r e f e r r e d ................... 100
A m G ra p h op h o c o m . .l o o
P r e f e r r e d ................. i o o
lis t
A m e r H a r d w a r e ..........100
107
A m I c e S e c u r it ie s ___ See
105
A m M a lt in g 6 s 1 9 1 4 .J - D
A m e r P r e s s A s s o c ’ n .1 0 0
47
48
A m S od a F o u n c o m . .1 0 0
80
1st p r e fe r r e d ..............100
bl
E x c h lis t
2 d p r e fe r r e d ..............100
E x c h Use
A m e r S te e l F o u n d r ie s —
M 6s 1 9 3 5 ............. AcfcO
3 9 4 40
87 7& 8 8 4 A m e r ic a n S u r e t y .......... 50
86 *4
A m e r ic a n T h r e a d p r e f . . 5
*3 1
*3 2
A in T o b a c (n e w ) c o m luO
P r e fd ............ Bee S to c k
90
4 s a n d 6 s .......... See S tk
A m T y p e fo T s c o m . . .1 0 0
P r e f e r r e d ................... l o o
§101
A m e r W r it in g P a p e r . 100
102
k E x c h lis t
P r e f e r r e d ................... 100
E x c h lis t
1 s t s f g o s ’ 19 o p ’ 0 9 . J - J
200
H B arn ey So S m C ar . . . 1 0 0
230
HP r e fe r r e d .
100
§101
H B eth l’m S te e l C orp .1 0 0
103
H P ref e r r e d __
100
§1 0 5
1 st e x t 5 s — See S tk E x
107
§1 0 0
1 0 1 4 B liss C o m p a n y c o m ----- 50
38
P r e f e r r e d ..................... 50
§100
102
Bond<fc M t g G u a r ___ 100
100
B o r d e n ’ s C o n d M i lk .. 100
125
11U
P r e f e r r e d ................... 100
140
104
B r itis h C ol C o p p e r ......... 5
108
B u t te C o a litio n M i n . . 15
C a se in C o o f A m co m .. 100
113
P r e f e r r e d ................... 100
115
98
C a su a lty C o o f A m e r . lu O
100
716 C e llu lo id C o ................... l o o
C e n t F ir e w o r k s c o m . 100
§ 96
100
P r e fe r r e d .....................100
C e n tr a l F o u n d r y ........100
125
130
P r e f e r r e d ................... 100
8
0
D e b 6s 1 9 1 9 o p ’ 01 M -N
E x c h lis t
C e n tr a l L e a t h e r .......... See
C e n t u r y R e a lt y ..........100
94
§ 90
C hesebrou srh M fg C o 100
C h ic P n e u m T o o l. See Ch
§106
C ity I n v e s t in g C o ___ luO
275
HCTallin (H B ) c o m ___ 100
125
128
I j ls t p r e ie r r e d ........100
40
46
<j']‘>d p r e fe r r e d .
-_1 0 0
57
60
C olo In d u stria l. See S to c
§100
102 4 Uui So H uck Goalcfc I p f 100
ls r v 5s 1 9 1 7 ..........J-J
108
110
C o l tr 6s O c t 1 9 5 6 ..J -J
C o n s o lid C ar B e a t in g 100
25
30
liC on s F ir e w ’ Ks com .1 0 0
60
70
11P r e fe r r e d ................. 100
§ 97
100 4

f 82
118
§ 80 4
7
60 4
182
105
x 42 4
8 2 34
107
S tk E
103
95
1
40
5
§ 92
l8 o
r 4
38 0
E xch
E xch
32
92
3 34
27
85
70
22
C hang
140
130
890
168
111
f J0 4
33 4
3
70
120
135
12
65
4
15

75
S tk E
190
440
ic a g o
108
108
96
96
k Ex
65
§ 82
60
20
60

A sk I In d iiH trin l a n 'i H iw c e i ! B id

\ A sk

i C o n s K y LtgJfc B e fr ig . 10(
54
2
i C o n s o l R u b b e r T i r e . .1 0 0
2 4
10
P r e f e r r e d .................... 100
1 *3
25
30
D e b e n t u r e 4 s 1951 A<fcO
8
C o n s S to r a g e B atteryiO *
1 11
C orn P r o d B e f See S t o c k E x c h lis t
15
25
C ram ps* Sh<fcEn B l d g l o o
liC T u cib le s t e e l ............ l o o
134
81
1 * P r e fe r r e o ...................100
8 ‘i
10 1
104
C u b a n 6 s o f 1 8 9 6 ........
• D ia m o n d M a tc h C o . 100 -------- * 1 2 3 4
4
D o m in io n C o p p e r (n e w ) 1
34
4
6
D o u g la s C o p p e r .............. 5 f
34
18
25
E le c t r ic B o a t ................ 100
60
70
72
P r e f e r r e d .................... 100
10
104
14
E le c t r i c V e h i c l e .......... 100
93
18
20
P r e f e r r e d .................... 100
9
5
E m p ir e S t e e l................ 10 0
39
43
P r e f e r r e d .................... 100
40
45
F e d e r a l S u g a r , c o m .. 100
92
P r e f e r r e d ....................10 0
72 4 75
77
80
150
H G en erai C h e m ic a l ..1 0 0
123
HP r e fe r r e d .................. 100 103 4 105
3
G o ld H i l l C o p p e r .......... 1 f
2*8
55
G r e e n e C o n C o p p e r . ..1 0 t 2 4 7e 25
2
120
G r e e n e C o n s o l G o l d . . . 10 t
24
88
2 4
G r e e n e G o ld -S ilv e r ___10 \ 2
265
280
12 7 ^ G u g g e n h e im E x p lo ’ n.lO O
H a c k e n s a c k W a te r C o —
B e f g 48 52 op 1 2 . . . J -J $ 2 0
85
934
90
105
H a ll S ig n a l C o ............100
16
H a v a n a T o b a c c o C o .. 100
174
30
34
P r e f e r r e d ..................... LOO
66
70
list
1 st g 5 s J u n e 1 ’ 2 2 . J -D
148
H e c k e r -J o n e s -J e w ’ i M ill
103
110
1 st 6s 1 9 2 2 .................M -S 106
25
50
35
H e r ’ g -H a ll-M a r ,n e w . 100
70
H o b o k e n L andtfc im p lO O 2 0 0
H5s 1 9 1 0 .................... M -N 6101
72
8 4
H o u s t o n O i l ...................100
94
4i
45
P r e f e r r e d .................... 100
125
135
H u d s o n R e a lt y ............100
8 7 4 95
2
I n g e r s o li-B a n u p r e h . 100
145
101
I n te r n a tT B a n k m g C o lO O 130
10 4 1 1 4
70
I n t ’ n ’ l M e r c M a r in e . 100
30
;0 4
P r e f e r r e d .................... 100
90
77
109
C o l t r d 4 4 ’ 2 2 o p ’ 0 7 A -O
774
36 v- 3 7 4
110
I n t e r n a t io n a l S a lt ___ 100
63
67
1 s t g 5s 1 9 5 1 ............A -O
-.....
5
10
37
I n t e r n a t io n a l S ilv e r .lO u
48
53
P r e f e r r e d .................... l o o
88
109
30
1 st 6 s 1 9 4 8 .................. J -D 6107
70
75
92
L a c k a w a n n a S t e e l . . . 10o
D ans ton M o n o t y p e ........20 t JL41* 15
L a w y e r s M o r t m s u r .1 0 0 190
50
J L e h So W ilk e s b C o a l.50
135
4
L o r d So T a y l o r ...............100 125
It 5
P r e f e r r e d .................... 100 1 0 0
4
150
100
H L orilla rd (P ) p r e f . . . 1 0 0 130
i3
73 4
60
M a c k ty C o m p a n ie s ..1 0 0
7 0 4 71 4
15
P r e f e r r e d .................... 100
15
25
M a d iso n S o G a r d e n .. 100
53
75
2d 6s 1 9 1 9 .................M -N
7
54
105
H M an h att B e a c h C o .10 0
34
M a n h a tta n T r a n s it ___ 20 t
34
13
17
L12 4 M e x N a t C o n s tr u e .p flO O
yir
2 6 2 1-2 M in e S e c u r i t i e s ............ 5 f
4
M it c h e ll M in i n g ............ l o r 4*4
0-4
9
99 4 M o n o n g a lie ia R C o a l ..50 \ 7 4
P r e f e r r e d .......................50 T ........ 25 4
36
°le
4
76
M o n t So B o sto n C o n s o l .5 t
105
M o r t g a g e B o n d C o . . . 100 lOo
934, N a t B a n k o f C u b a ___ 100 1 0 > M 2
142
N a t io n a l S u r e t y ..........100
s 99 4 N e v a d a C o n s ’ d* C o p p e r .5 t i 7 a4 18
35
4*2
List
H N ew C e n tr a l C o a l ___ 20
38
N J T e r D ocktfe I m p . 100
N Y B is c u it 6s 1 9 1 1 . M -S lu 2 4
200
N Y M t g e So S e c u r it y . 100 190
35
40
85
H N ew Y o r k D o c k ___ 100
84
67
HP r e f e r r e d .................100
125
54
N Y T r a n s p o r t a t i o n . ..20 \ o
814> N ile s -B e m -P o n d c o m . 100 12 o
3
34
7 4 H O n ta n o S i l v e r ..........100
56
60
60 58 O tis E le v a t o r c o m ___ 100
98
10 1
P r e f e r r e d .................... l o o
2
P h o e n ix S e c u r it i e s ............
24
108
P it t s b u r g B r e w i n g ___ 50 f 3 o a4
P r e f e r r e d ....................... 50 t 49 4
85
P it t s b u r g C oa l See S to ck E x c h list
109
4
5
x lis t P o p e M a n u f a c t u r in g .l o o
65
75
1st p r e f e r r e d ............ 100
106
15
19
2d p r e f e r r e d . . ........10 0
105
107
P r a tt So W h itn p r e f . . 100 1 0 2
3
R e a lt y A s s o c (B k ly n )lO O 157 4 165
46
112
R o y a l B a k P o w d p r e f. 100 108
10
285
S a fe ty C ar H e a t So L tlO O 275
S e n e c a M i n i n g ............ 25 t 55
93
515
S in g e r A llu C u...............lOO 495
L95
S o u th e r n S te e l—
5
94
400
I s t s f g o s 19.>0 o p t M -N 6 92
40
45
lis t
S ta n u a iu C o u p le rco m lO O
130
P r e t e r r e d .....................lo u 1 2 0
list
9
S ta n d a rd M il li n g C o . 100
36
114
30
34
P r e f e r r e d ..................... 100
97
79
81
1 st 5s 1 9 3 0 .............M - N
4
606
27 hi S ta n d a rd o i l o f N J .. 1 0 0 6u3
85 4 S w ift So C o See B o s to n St x E x c ii’ ge
8u
1 s t 5 s 1 9 1 0 -1 9 1 4 .. . J - J 6 1 0 2 4 103
45
149
T e n n e s s e e C o p p e r ........ 25 f 43
74
25
IIT e x a s So P a c ific C oal 100
no
85
1 s t 6s 1 9 0 8 ................ A -O 6105
185
e li s t T it le i n s C o o f N Y .. 1 0 0 180
T o n a p a h M m (N e v a d a ). 1 f 18 4 1 9 4
145
15
17
134
T r e n t o n P o t t e r ie s com lO O
98
10 2
P r e fe r r e d n e w ____100
400
35
50
T r o w D ir e c t o r y u e w .-lO O
175
U n io n C o p p e r ................ .1 0 t
114
1
14
90
95
U n io n T y p e w r c o m . . 1 00
11
1
1
8
124
1 s t p r e fe r r e d .............. 100
34
125
2d p r e fe r r e d .............. 100 118
6
80
U n ite d B k N o t e C o r p . .5 0 t 52
53 4
P r e fe r r e d : ................ 50 t 51
130
95 4 96
U n ite d v^ igarM fg., p f. LoO
140
63
U n ite d C o p p e r ...............100
17
63 4
97 4 1 0 2 4
P r e f e r r e d .....................100
70
434 U S. C a s u a l t y ............. lO o 2 0 0
20
U s E n v e lo p e c o m . . . 100
19
97
10 0
HP r e fe r r e d ____ _____ 100
79
x lis t U S B u b 2d p f See S to c k E x c li list
U S S te e l C o r p o r a t io n —
200
C o lt r s f 5s ’ 51 o p t ’ l l .. § i 1142 1 1 2 4
480
lis t
C o lt r s f 5 s ’ 51 n o t o p t . . 6 1 1 1 4 1 1 2 4
130
U S T it Gutfc I n d e m .1 0 0 1 2 0
114
U ta h C o p p e r C o ............1 0 f 27
115
28 4
W e s t c h e s t e r So B r o n x
180
T it l e So M o r t G u a r . 100 175
W e s t in g h A ir B r a k e . .50 f 158 4
List
W e s t E le c So M fg —
80
C on s f 5 s ’ 31 O p ’ 12 J -J 6 9 6 4 9 6 4
87
14
l 3ia
101-4 W h ite K n o b M i n ..........10
34
P r e fe r r e d ........................10
65
34
1
2
0
116
W
o
r
t
h
in
g
P
u
m
p
D
ref.
i
o
o
40
70
ioO
50
90
98
43
40
L08
134
91
109

a E x -r ig h ts . x E x - d iv . i N e w s to c k . HS e lls on S c’ k E x c h ., b u t n o t a v e r y a c t i v e s e c u r ity .

S e p t . S 1906. '

THE

r*

C H R O N IC L E .

t*

r* *

5^> /

f m ie s t r a m i a n d R a i l r o a d ^ ittc ilu ie n c c .
R A IL R O A D

GROSS

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. T h e r e t u r n s o f the street ra ih oa ys are brought together sep a ra tely o n a su ^ segu en t p a ge.
can

Week or
Month.

Roads.

Current
Year.

Latest Gross Earnings.

July 1 to Iaitest Date.

Latest Gross Earnings.
Previous
Year.

Current
Year

Previous
Year.

Current
Year.

Week or
M onth.

Roads.

Previous
Year.

Current
Year

$

S

$

Ala N O Sc Texas Pacific.
34.000
50.000
N O & X East 2d w k Alii?
17.000
24.000
Ala A V icksb'g 2d wk Aug
13.000
25.000
Vicksb Sh Sc P . 2d wk Aug
A tell Top & S Fe_ July -------- 6,3$$,33S 5.654.913
293,6S0
306,543
Atlanta A Char__ A p r il..........
87,651
96,809
At Pa Birm & AtPc J u n e -------Atl Coast L ine___J u l y ---------- 1,91S,703 1.689.913
Balt
Ohio..........J u l y ---------- 6.544,S46 5,76S,S29
167,792
214.025
Bangor A A roost. July _____
3,775
4,176
Bellefonte Central July -------5,914
4,675
Bridget & Saco B J u n e _____
241,682
260,183
Buff lloch & Pitts 4th wk Aug
110,573
129.S53
Buffalo & Susq__|July -------135,222
149,516
Cal Northwestern J u n e _____
126,600
192.300
Canadian N orth, 4th wk A ug
Canadian P acific. 4th wk Aug 1.962.000 1.539.000
306,722
274,920
CentT of Georgia. 4th wk Aug
CentT of N Jersey J u l y _____ 2,214,501 2,071,756
3,851
3,970
Chat tail Southern 4th wk Aug
1,927,910 1,775,613
Chesap A O h io .. July
2,519
2,967
Chesterf'd
Lane J u l y _____
916,328
911,55
Chic «fc Alton R y_ J u n e _____
315,432
251,140
C liicG t W estern. 4th wk Aug
185,043
173,671
Chic Inti Sc Louisv 4th wk Aug
Chic Milw & St P . May _____ 4,340,243 3,900,554
Chic A- North W _ J u l y _____ 5,510,909 4.928.300
Chic St P M & 0 _ J u l y _____ 1,028,540 919,134
47,850
46,735
Chic Term Tr R R 4th wk Aug
172,646
174,655
Colorado Midland J u n e _____
269,648
h Col A South Sys 4th wk Aug 304,659
19,221
22,580
Col X ew b Sc L a u . J u l y _____
65,882
65,385
Copper R ange___J u n e ______
18,087
18,463
Cornwall_________J u l y ______
37,566
33,667
Cornwall & L eb __ J u n e _____
539,500
584.300
Denver A R io Gr_ 4th wk Aug
40,894
30,559
Det & M ackinac. 4th wk A ug
83,182
70,781
Det Tol & Ir S ys. 3d wk Aug
26,354
11,235
Dul R L & W innip J u n e _____
66,012
60,325
Dul So Sh Sc A tl. 3d w k Aug
E rie_____ ________ July ______ 4,361.024 3.959.300
1,842
1,378
Fairchild & N E . J u l y _____
78.805
85 025
F on Johns t Sc Gl_ J u l y _____
206,950
218,549
Georgia R R _____ J u l y ______
Gr Trunk System 4th wk Aug 1,323,216 1,206,109
102,303
109,817
Gr Trunk" West 3d wk A ug
34,829
40,148
D et Gr LI Sc Mil 3d wk A ug
41,452
41,078
Canada A tla n . 3d wk A ug
Great Northern __ A u g u s t___ 4,768,883 3,757,307
215,233
230,216
Montana CentT A u g u s t ___
Total system __ A u g u s t ___ 4,999,099 3,972,540
32,232
43,530
Gulf Sc ShiDlsland 3d wk Aug
504,992
593,451
H ocking V alley. _ J u l y _____
Illinois Central __ A u g u s t ___ 4,448,303 4,015.834
26.432
24,455
Illinois Southern. J u n e _____
208,390
246,000
Int Sc Gt N o r th s 4th wrk Aug
156,547
a Interoc (M ex)__ 4th w k Aug 172,183
87,127
72.806
Iowa Central____ 1th wk A ug
169,428
189.800
Kanawha Sc ilicb J u l y _____
547,728
Kan City SouttPn J u l y _____
691,023
Lehigh V alley___May ______ 2,418,335 2,781,731
Lexing Sc Eastern J u l y _____
43,390
50,276
Long Island_____ J u n e ______
Inc. 168 ,211
75,696
103,749
Louisiana Sc A rk. J u ly ______
Louisv Sc N ashv. 4th wk Aug 1,315,670 1,131,025
Macon Sc B irm __ July ______
11,919
11,765
1l an is A- N o E a s t. J u n e _____
39,572
32,916
Manistique______ J u l y ______
12,378
13,036
28,035
Maryland Sc Penn J u l y _____
26,475
a Mexican CentT. A p r il_____ 2,500,372 2,270,240
a Mexican Intern 4th wk Aug 217,444 172,475
a Mexican R y ___3d wk Aug
131.800
135.000
a .Mexican S o u th .13d wk Aug
19,567
25,747
Millen Sc S ou th w . IFebruary .
6,015
8,133
Mineral R a n g e .. 3d wk Aug
13,946
17,086
Min neap Sc St L_ 4th wk Aug
112,641
122,360
M St P Sc S St M 3d wk Aug
221,768
178,881
Mo Kan & Texas 4th wk Aug
676,477
753,466
Mo Pac Sc Iron Mt 4th wk Aug 1.493.000 1.405.000
Central Branch 4th wk Aug I 64.000
100.000
T ota l__________4th wk Aug, 1.557.000 1.508.000
b Mob Jack Sc K C J u n e _____ ! 100,968
Nash Ch & St L__ J u l y _____
910,247
801,249
Nat R R of M ex. _ 4th wk Aug
423,007
389,777
Hidalgo Sr N E 4th wk Aug
27,625
Nevada C en tra l.. J u n e _____
6,811
’ V,646
N ev-C al-O r^gon . J u l y _____
21,627
20.306
N Y Ont Sc W est. J u l y _____
807,370
708,523
N Y Susq Sc West J u l y _____
233.025
196,816
Norfolk A W est'n July _____ 2 401,368 2,127,747
Northern Central Julv ......... 1 978,715 ; 853.015

Julv 1 to Latest Date.

Previous
Year.

N Y C Sc H ud R iv A u g u s t ___ 8,623,508 8,146,195 16,352,730 15,281,493

354,140
299,528
155,985
137,391
169,430
126,213
6,3SS,33S 5.684.913
3.417,933 3,098,189
1.122.634 1,007,033
1,918,703 1.689.913
6,544,846 5,768,829
167,792
214 025
3,775
4,176
47,569
48,305
1,295,988 1,573,054
110,573
129.S53
1.607.635 1,541,199
1,198.700
753,000
12,064,968 9,347,175
1,892,858 1,705,780
2,214.501 2,071,756
30.086
21,649
1,927,910 1,775,613
2,967
2,519
11,586,094 11,797,313
1,616,360 1,326,290
1,045,413 1,039,979
50,649,320 45,643,4S8
5 510,909 4,928.300
919,134
1,028,540
283,097
284,281
2.132,665 1,974,463
2,087,145 1 , 828.662
19,221
22,580
628,613
679,286
18.087
18,463
293,665
441,709
3,465,506 3,149,627
211,777
176,971
484,298
569,237
454,563
483,326
4,361.024 3,959,300
1,842
1,378
78,805
85,025
206,950
218,549
7,491,505 6,727,118
716,478
830,509
248,052
299,836
296,484
313,278
9.545.319 7,451,636
416,064
477,731
10,023,050 7,867,700
275,371
324.653
504,992
593,451
8,790,449 7,764,833
278,929
336,556
1,102,800 1,006,412
1 , 102.001 1,023,592
446,759
488,851
169,428
189,800
547,728
691,023
29,616,993 28,288,373
43.390
50,276
Inc. 877 ,348
75,696
103,749
7,611,350 6,710.587
11,919
11,765
433,300
420,089
12,378
13,036
26,475
28,035
23,315,446 21,418,238
1,219,222 1,020,287
905,800
968,500
174,883
161.653
52,521
59,379
105,554
107,655
623,245
659,336
1,746 814 1,317,028
5,789 216 3,349,363
7,746,538 7,017,931
421,313
294,322
8,040,860 7,439,244
1.134.320
801,249
910,247
2,417,779 2,060,597
170,788
35,659
61,250
20,306
21,627
708,523
807.370
196,816
233,025
2,401,368 2,127,747
853,015
978,715

L S & M S _____ A u g u s t ___
Lake E Sc West A u g u s t ___
Chic Ind& Sou l A u g u s t ___
Mich C en tra l.. A u g u s t ___
C C C & St L _ . A u g u s t ___
Peo Sc E astern. A u g u s t ___
Cin Northern __ A u g u s t ___
Pitts Sc Lake E A u g u s t ___
R u tla n d ______ A u g u s t ___
N Y Chic & StL A u g u s t ___
Northern P acific. J u l y _____
Pacific Coast C o. _ J u n e _____
d P e n n -E a stP & E J u l y _____
c/West P & E__ July _____
Phila Balt & W 'sh J u l y -------Phila Sc E r ie .— June __ __
Pittsb C C Sc St L J u l y _____
Raleigh Sc S’ p o rt. J u n e _____
Reading Railway J u l y _____
Coal & Iron Co J u l y _____
Total both co s. J u l y _____
Rich Fr'ksb & P_ June
R io Grande Jct__ June _ _ _
Rio Grande South 4td wk Aug
R ock Island S ys. July _____
St Jos Sc Gr Isl___ July _____
e St L Sc San Fran July _____
St L S o u th w e st.. 4th wk Aug
Seaboard Air Line J u n e _____
Sierra R a ilw a y . _ J u l v _____
Southern Indiana J u l v _____
c So Pacific C o___ June __ _
Southern Ry_/c__ 4th wk Aug
Mobile & O hio. 4th w k Aug
Cin N O &TexP 3d wk Aug
Ala Great S ou . 3d wk Aug
Ga South Sc Fla July _____
Texas Central___ 3d wk Aug
Texas Sc P acific. _ 4th wk Aug
T e x S V & N W . . February .
Tidewater & W est J u n e _____
T ol Sc Ohio Cent. July -------T ol Peo & W e s t .. 4th wk Aug
Tol St L & W e st. 4th wk Aug
Tom bigbee Valley J u l y _____
Tor Ham & B uff. J u l y _____
Un Pacific System J u n e ____
Virginia & So W ;n J u l y _____
W a b a s h _________ 4th wk Aug
W esternMaryland 4th wk A ug
West Jersey Sc S’e July
W heeling & L E_ 3d wk Aug
W ichita Valley __ J u n e _____
W ’msport & N Br M a y _____
Wisconsin Central M a y _____
Wrights & T enn . J u l y _____
Y a zoo Sc Miss Val A u g u s t ___

3,823,405
509,236
170,679
2,175,481
2,365,287
286,183
115.046
1,257,504
287,518
809,568
5,534,353
488.046
12406 865

Inc.78

1,366,278
740,541
2,407,051
5,695
3,174,328
2,151,127
5,325,455
179,360
65,689
15,346
4,408,987
142,719
3,574,223
283,508
1,218,818
38,441
113,526
1,486,873
327,228
147,328
77,225
171,261
16,637
423,743
13,000
8,391
40 2 ’055
37,931
113,909
5,430
62,357
5,507,281
84,658
807,454
148,990
680,981
111,784
14,321
12,868
602’403
15,846
626,605

3,480,797 7,407,836 6,585,001
498,352
870,127
942,475
335,212
336,757
167,535
2,089,842 4,294,452 3,960,534
2,1.58,266 4,508,651 4,049,178
257,840
471,732
530,820
92,008
162,938
203,399
1,140,038 2,573,244 2,209,612
256,172
486,594
537,441
755,875 1,618,290 1,424,703
4,568,896 5,534,353 4,568,896
619,154 6,308,611 6,199,273
10783 865 12,406,865 10.783,865
In c.78 1,900
1 ,900
1,234,078 1,366,278 1.234.078
751,803 8,297,578 7,852,738
2,146,611 2,407,051 2,146,611
4,374
49,637
64,282
3,098,278 3,174,328 3,098,278
1,844,997 2,151,127 1,844,997
4,943,275 5,325,455 4,943,275
171,769 1,764,856 1,598,188
51,002
574,755
679,070
15,012
93,621
101,579
3,871,386 4,408,987 3,871.386
133.848
133,848
142,719
3,156,844 3,574,223 3,156.844
252,743 1,566,547 1 3S9.057
1,179,865 15,116,944 13,619.272
29,132
29,132
38,44i
108,298
106,298
113,526
105619 114 95,515.158
1,446,384 8,993,419 8,281,488
273,590 1,632,377 1,402,735
139,781 1,204,434 1,040,053
57,639
475.358
542,365
148,270
148.270
171,261
15,279
110,885
1 17,235
335,274 2 076,900 1,634,100
8,700
88,189
6,931
91 ,127
326,522
402 ,055
326,522
217,121
204 ,423
41,810
678,351
671 ,886
138,005
3,254
3,254
5 ,430
55,037
55,037
62 ,357
5,219,759 67,281 ,542 59 ,324,948
74,005
84 ,658
74,006
755,916 4,780 ,854
,252,789
800.011
941 ,980
135,818
655.281
680 981
655,281
107,970
79 ,527
741,626
6.151
154,807
14,908
161,189
594 ,$99 6,506,698 6,085,119
13,771
15,846
13.771
985,072
456,436 1,215,072

Period

Various Fiscal Years.
Atlanta Sc Chari Air L in e____
Bellefonte Central___________
a Interoceanic o f M exico_____
Manistee Sc North E astern___
M a n istiqu e___________________
a Mexican International_____
a Mexican R ailw ay__________
a Mexican Southern__________
National R R o f M exico______
New Y ork Central___________
Lake Shore & Mich S o u t h ._
Lake Erie & W estern______
l Chicago Ind & S o u th e rn ..
Michigan Central__________
Clev Cin Chic Sc St L ou is___
Peoria & E astern__________
Cincinnati N orthern______
Pittsburgh Sc Lake E rie___
R u tla n d_____ ______________
N Y Chicago Sc St L ou is___
Northern C e n tra l......................
d Penn— East o f Pitts Sc E ___
d W est o f Pitts Sc E ________
Phila Baltimore & W a sh _____
Philadelphia & E rie__________
Pitts Cin Chic & St L ouis____
R io Grande J et_______________
Texas Sc P a cific.........................
West Jersey Sc Seashore_____

Mch
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
D ec
Jan
Jan

1 to
1 to
1 to

1 to
1
1
1
1
1
1

to
to
to
to
to
to

Apr
July
Aug
June
July
Aug
Aug
Aug
Aug
A ug
A ug
A ug
A ug
A ug
A ug
A ug
Aug
A ug
A ug
Aug
July
July
July
J u ly
June
July
June
Aug
July

Current
Year.

Previous
Year.

$686,464
31,759
4,600,491
242,379
64.193
5,256,752
4,465,500
793,474
9,811,704
59,231,954
28,014,932
3,467,854
1,483,020
16,913,594
15,871,169
1,992,376
679,1609,620,433
1,805,309
6,504,289
6,454,509
82,233,814
Inc. 5,19
8,879.589
3.665,922
16,559,610
370,725
8,680,387
2,851.533

$653,930
33,656
4,255,307
237,109
53,973
4,262,768
4,036,900
792,775
8,170,942
54,471,056
24,751,945
3,159,498
1,372,085
14,687,693
14,280,201
1,778,636
542,587
8,262,904
1,628,886
5,767,613
5,849,109
72,758,714
0,300
8,304.089
3.645,093
14,685,536
311,036
7,280,084
2,487,533

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
Monthly Summaries.
4 th
1st
2nd
3 rd
4th
1st
2nd
3rd
4th

w eek
w eek
week
w eek
week
w eek
week
w eek
w eek

June
Ju ly
Ju lv
Ju ly
Ju ly
Aug
Aug
Aug
Aug

(41 r o a d s ) ..
(43
(43
(43
(40
(41
(41
(41
L34

r o a d s )__
r o a d s ) ..
r o a d s ) ..
r o a d s ) ..
r o a d s ) ..
r o a d s ). .
r o a d s ) ..
r o a d s ) ..

Cur’nl Year Prev.
%

12,852,048
8 ,7 16,92 2
9,3 8 9 ,1 1 7
9 .6 0 4 ,3 1 8
13,517 452
9 ,4 3 2 ,0 0 8
9 .6 9 1 ,2 8 6
9,6 6 8 ,8 5 2
14 ,035 ,9 35

Year Inc. or Dec.

$
11,068,031
7,781,628
8,3 0 7 .9 0 3
8,5 1 6 ,3 0 3
11,801 .208
8 ,1 68,67 0
8,3 2 3 ,9 8 3
8 ,5 0 9 ,3 4 2
12 .555 ,9 78

%
+ 1,784.017
+ 935.294
+ 1,081,214
+ 1,124,015
+ 1,716,244
+ 1 ,2 6 3 ,3 3 8
4-1 ,367,303
+ 1 ,159,510
+ 1.479,957

%
16.12
12.02
13.01
13.11
14.54
15.46
:
13.62
11.71 |

Monthly Summaries.
M onth
M onth
M onth
M onth
M onth
M onth
M onth
M onth
M onth

N ov
D ec
Jan
Feb
Mch
A pr
May
June
Ju ly

Cur’nt Year Prev.
S

1905
1905
1906
1906
1906
1906
1906
1906
1906

(115
(113
(117
(118
0 10
(111

(124
(1 1 3
(68

rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)

165,977,137
159,312,944
152,980,485
142,656,542
159,25 8,89 0
136,685.537
15 2,18 3,74 2
I 46,010,301
81 ,578 ,2 88

Year Inc. or Dec.

S
150,405,695
142,053,423
126,555,852
112,895,257
14 3,97 8,44 0
128,005,775
138,557,872
130,233.293
71,186,181

%

$
+ 15 ,571 ,4 42 10.35
+ 17,259,521 12.15
+ 26 ,424.633 20.88
+ 29 ,761.285
+ 15,280,450 10 61
+ 8,6 79,76 2 6 .7 8
+ 13 ,625.870 9 .8 3
+ 15,777,008' 12.1 1
+ 10,392,107 14 .60

a Mexican currency, b Includes earnings of Gulf Sc Chicago Division, c Includes the Houston Sc Texas Central and its subsidiary lines in both
years, d Covers lines directly operated, e Includes the Chicago Sc Eastern Illinois in both years, h Includes earnings of Col. <fc South., F t.
W orth Sc Denver City and all affiliated lines, excepting Trinity «*.: Brazos Valiev R R . k Atlanta K n oxville Sc Northern included in both years since
April 1; it had previously been included in 1905 since Jan. 1; earnings of Transylvania Railroad included from Jan. 1 190G and of East Division of
Tennessee Central from D ec. 1 in 1905 o n ly .__ LFLguresJ>borJ.o April 10 1 9 0 ^ r e those o f the Indiana llUnois_& Iow a and In d . H ajfe. of Ind ia n a .

THE CHRONICLE

558

Latest Gross Earning's by Weeks.— In the table which
follows we sum up separately the earnings for the fourth
week of August. The table covers 34 roads and show's
1 1 . 7 1 % increase in the aggregate over the same week last year
Fourth week o f August.
B u ffa lo R o c h e s t e r & P it t s ______
C a n a d ia n N o r th e r n _____________
C a n a d ia n P a c i f i c ________________
C entral o f G e o r g ia _______________
C h a tta n o o g a S o u t h e r n .............. _
C h ica g o G reat W e s te r n __________
C h ica g o In d ia n a p o lis & L o u is v .
C h lca g o T e rm in a l T r a n s fe r _____
C o lo r a d o 6c S o u th e r n , in cl. F t
W o r th & D en v e r C it y ________
D e n v e r 6c R io G r a n d e ___________
D e tr o it 6c M a c k in a c _____________
G ra n d T ru n k o f C a n a d a .......... _]
G ran d T ru n k W e s te r n ________ >
D e tr o it G ran d H a v e n & M ilw |
C a n a d a A t la n t ic ______________ J
In te rn a tio n a l & G rea t N o rth e rn
In te r o c e a n ic o f M e x ic o ___ . _____
I o w a C e n tr a l_____________________
L o u isv ille & N a s h v ille _______ __
M e x ica n I n t e r n a t io n a l__________
M in n ea p olis & St L o u is __________
M issouri K a n sa s & T e x a s _______
M issou ri P a cific & Iro n M t ____
C en tral B r a n c h ________________
M o b ile & O h i o ________ ______ ____
N a tio n a l R R o f M e x ic o __________
R io G ra n d e S o u th e r n ............. .......
St L ou is S o u th w e s te r n __________
S ou th ern R a i l w a y _______________
T e x a s & P a c i f i c __________________
T o le d o P e o ria & W e s t e r n _______
T o le d o St L ou is & W e s t e r n ____
W a b a s h _________________________
W e s te rn M a r y la n d _______________

Increase. Decrease.

1905.

1906.

$

$
241 ,682
192,300
1 ,9 6 2 ,0 0 0
3 0 6 ,7 2 2
3,970
315,432
173,671
47 ,8 5 0

$
2 6 0 ,1 8 3
126,600
1 ,5 3 9 ,0 0 0
27 4 ,9 2 0
3,851
251 ,140
185,043
46 ,7 3 5

65 ,7 0 0
4 2 3 .0 0 0
31 ,8 0 2
119
64 ,2 9 2

30 4 ,6 5 9
58 4 .3 0 0
4 0 ,8 9 4

26 9 ,6 4 8
53 9 ,5 0 0
30 ,5 5 9

35,011
44 800
10 ,3 3 5

1 ,3 2 3 ,2 1 6

1 .2 0 6 ,1 0 9

1 17,107

2 4 6 ,0 0 0
172,183
87 ,1 2 7
1 ,3 1 5 ,6 7 0
21 7 .4 4 4
122,360
7 5 3 ,4 6 6
1 ,4 9 3 ,0 0 0
64 ,0 0 0
32 7 ,2 2 8
4 2 3 .0 0 7
15 ,3 4 6
2 8 3 ,5 0 8
1 .4 8 6 ,8 7 3
42 3 ,7 4 3
37,931
113,909
8 0 7 ,4 5 4
148,990

2 0 8 ,3 9 0
156,547
7 2 ,8 0 6
1 ,1 31,025
172,475
112,641
67 6 ,4 7 7
1 ,4 0 8 ,0 0 0
100,000
2 7 3 ,5 9 0
3 89,777
15,012
2 5 2 ,7 4 3
1 ,4 4 6 ,3 8 4
3 3 5 ,2 7 4
41 ,8 1 0
13 8 ,0 0 5
7 5 5 ,9 1 6
13 5 ,8 1 8

3 7 ,6 1 0
15 .6 3 6
14,321
184,645
4 4 ,9 6 9
9,7 1 9
76 ,9 8 9
85 ,0 0 0

$

18,501

11,372
1,115

36 ,0 0 0

3,8 7 9
2 4 ,0 9 6
51 ,5 3 8
13,172

Roads.

$
2 1 4 ,0 2 5

$
1 6 7 ,7 9 2

Current
Y ear.
$
6 5 ,3 8 2

P revious
Y ear.

$

Roads.

$

W e s tJ e r s e y & S e a s h o r e . b J u ly
680,981
Jan 1 t o J u ly 3 1 ............. 2 ,8 5 1 ,5 3 3
W r lg h ts v & T e n ie lle . b J u ly
s l 5 846
Y a z o o 6c M iss V a lle y . a _ _ J u ly
5 8 8 ,4 6 7

655,281
2 ,4 8 7 ,5 3 3
513,771
5 2 8 .6 3 6

Current
Year.

Previous
Y ea r.

2 9 2 ,3 6 2
81 6 ,3 9 4
6 ,0 4 4
d e f .8 5 ,489

3 0 9 .7 6 2
619,694
5 ,2 5 5
d e f.4 0 ,0 5 9

$

$

a N et ea rn in g s h ere g iv e n a re a ft e r d e d u c tin g ta x e s ,
b N et ea rn in g s h ere g iv e n are b e fo r e d e d u c tin g ta x e s .
n T h e s e figures re p resen t 3 0 % o f g ross ea rn in g s.
s In clu d e s $451 o th e r in c o m e In 1906, a g a in st $392 la st y e a r.
y F o r J u n e a d d itio n a l in co m e a n d n et p rofits fro m c o a l, & c ., w ere $ 7 0 ,9 0 0
th is y e a r a g a in st $ 2 8 ,1 4 0 la st y e a r; a n d fro m J u ly 1 t o J u n e 3 0 , $ 8 6 4 ,7 4 4
th is y e a r , a g a in st $ 6 3 4 ,4 5 8 la s t y e a r.

Current
Y ear.

9 3 ,8 4 8

------- Gross Earn'gs ------- ----------- Net E arnings --------

P revious
Y ear.

Current
Y ear.

— Int., R entals , Sec.— — Bal. of N et E 'n g s .—

Net Earnings Monthly to Latest Dates.— The table fol­
lowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Aug. 25 1906. The
next will appear in the issue of Sept. 23 1906.
Current
Y ea r.

----- Gross Earn'gs -------- — — Net Earnings ------

Interest Charges and Surplus.

5 3 ,6 3 8
33 ,2 3 0
334
30 ,7 6 5
40 ,4 8 9
88,469

T o ta l (34 r o a d s ) _______________ 1 4 ,0 3 5 ,9 3 5 1 2 ,5 5 5 ,9 7 8 1 ,5 7 3 ,8 0 5
1 ,4 7 9 ,9 5 7
N e t in crea se ( 1 1 . 7 1 % ) _________

[V O L . 1 X X X III,

Previous
Y ear.

Roads.
$
B a n g o r 6c A r o o s t o o k - . .J u l y
64,181
B o sto n & A lb a n y —
9 2 8 ,6 1 6
A p r 1 t o J u n e 30_ ..........
1 ,8 7 0 ,1 6 1
Jan 1 t o J u n e 3 0 .,
3 .8 5 1 ,0 6 8
J u ly 1 t o J u n e 3 0 .
D e n v e r 6c R io G r a n d e . _ .J u l y
34 3 ,5 1 5
G reen w ich 6c J o h n s o n v ille —
A p r 1 t o J u n e 30 ______
4 ,6 0 0
Jan 1 t o J u n e 3 0 ____ __
9 ,2 0 0
J u ly 1 t o Ju n e 30
18,400
L eh ig h V a lle y — L e a se d lin es in N e w Y o r k
2 4 3 ,8 6 3
A p r 1 to J u n e 3 0 _______
J a n 1 t o J u n e 30 .
5 1 7 ,7 2 5
J u ly 1 t o J u n e 3 0 . ____ 1 ,0 6 5 ,4 4 9
N a sh C h a tt 6c S t L o u is . -J u ly
149,469
N ew Y o r k 6c O t t a w — Jan 1 t o J u n e 30
1 4 ,8 1 0
N o r fo lk 6c W e s te r n ____ -J u ly
3 6 2 ,2 0 7
P o c a h o n ta s C ollieries _ . -J u ly
1 6 ,1 9 7
R io G ra n d e J u n c t io n ___.J u n e
8 ,3 3 3
D e c 1 t o J u n e 30
5 8 ,3 3 3
R io G ra n d e S o u th e r n . _ -J u ly
18 310
S t J o se p h 6c G ra n d I s l. -J u ly
14 ,5 1 2
S t L a w r 6c A d iro n d a ck —
A p r 1 t o J u n e 30
18 ,6 2 4
J u ly
T e x a s C en tra l . .
2 ,5 8 3

$
4 8 ,9 3 8
8 5 9 ,6 7 8
1 ,7 1 9 ,0 0 0
3 ,5 5 4 ,5 1 4
3 3 7 ,2 1 9

Current
Year.

P revious
Year.

$
1,201

$
5 ,0 8 8

£ 1 7 5 ,5 7 5
£ 6 2 ,6 1 4
£ 7 7 ,8 4 0 £ d f.2 6 1 ,318
£ 3 1 0 ,8 0 3 £ d f. 33 ,2 0 5
z/2 9 7 ,415
dZ 65,677

4 ,6 0 0
8 ,9 0 0
17,500
S ta te —
27 1 ,5 6 2
54 3 ,1 2 4
1 ,0 8 6 ,2 4 8
149,778

£ 2 ,2 5 4
£ 3 .6 3 8
£ 9 ,1 1 2

£ 2 ,8 8 8
£ 4 ,7 5 7
£ 1 3 ,1 4 5

293 ,9 7 5
5 6 5 ,5 7 6
1 ,8 4 4 ,0 8 8
7 4 ,7 0 2

4 6 4 ,0 7 0
6 2 1 ,3 8 4
1 ,4 8 7 ,2 7 6
5 2 ,4 5 7

1 ,0 8 2
336 ,2 0 7
1 5 ,7 1 4
8 ,3 3 3
58 ,3 3 3
18,310
14,825

d e f.1 4 ,0 0 4
5 2 3 ,7 6 9
e6 ,8 1 7
1 1 ,3 7 4
5 2 ,8 8 4
£ 7 ,6 7 7
3 3 ,5 9 3

3 ,2 8 0
4 4 4 ,1 9 6
el ,569
6.968
34 ,9 7 7
£ 2 ,2 1 7
2 7 ,7 1 0

2 5 ,2 3 8
2 ,5 8 3

£ 2 0 ,7 3 4
2 4 ,0 2 0

£ d e f . 6 ,756
2 2 ,2 0 8

d T h e se figures a re a fte r a llo w in g fo r o th e r in co m e a n d fo r d is co u n t a n d
e x c h a n g e . T h e su m o f $ 1 0 ,0 0 0 is d e d u c te d e v e r y m o n th fr o m su rp lu s a n d
p la ce d to th e cr e d it o f th e R e n e w a l F u n d .
x A fte r a llo w in g fo r o th e r in c o m e re c e iv e d .
e In clu d e s sin k in g fu n d a n d p r e fe r r e d s t o c k d iv id e n d .

STREET R A IL W A Y S AND TRACTION COMPANIES.

$
54 ,0 2 6

B a n g o r & A r o o s t o o k .b _ J u ly
B o s to n & A l b a n y , b —
8 2 9 ,1 3 5
A pr 1 to
J u n e 3 0 _______ 2 ,7 8 5 ,1 0 2 2 ,6 6 3 ,5 6 2
99 5 ,9 2 0
1 ,2 6 5 ,4 5 1
J an 1 t o
J u n e 3 0 _______ 5 ,4 2 0 ,1 1 2 4 ,9 7 7 ,6 4 1
1 ,7 3 7 ,6 0 9
J u ly 1 t o
Ju n e 3 0 ______ 1 1 ,2 0 5 ,0 7 4 1 0 ,3 8 4 ,5 7 4
3 ,7 4 6 ,4 5 2
3 ,1 5 7 ,4 1 8
C h a tta n S o u t h e r n .a ____ J u ly
1 6 ,8 7 5
10 021
d e f.2 0 6
217
849
C h esterfield & L a n c a s te r J u ly
2 ,9 6 7
2,5 1 9
986
C h ica g o 6c A l t o n . a ______J u n e
3 0 0 ,8 3 5
9 1 1 ,5 5 7
9 1 6 ,3 2 8
2 7 5 ,0 3 9
3 ,4 8 9 ,6 5 1
J u ly 1 to J u n e 3 0 _______ 1 1 ,5 8 6 ,0 9 4 1 1 ,7 9 7 ,3 1 3
3 ,4 1 3 ,0 1 1
C h ic a g o G t W e s t e r n . b_ .J u l y
7 6 0 ,2 7 0
2 3 9 ,8 3 4
1 8 1 ,6 6 5
6 32,569
C o lo r a d o & S o u t h e r n .a .J u ly 1 ,0 1 7 ,2 2 1
2 6 1 ,2 4 8
2 0 9 ,2 9 7
8 6 7 ,1 3 8
C o lu m R e w b ’ y & L a u . a .J u l y
2 2 ,5 8 0
4 ,8 8 5
5.4 6 5
19,221
D e n v e r & R io G r a n d e .b _ J u ly 1 ,6 9 6 ,7 0 6
1 ,5 0 5 ,4 2 7
5 9 2 .1 2 2
5 5 6 ,1 4 3
G re e n w ich & J o h n s o n v .b —
7 ,0 5 6
A p r 1 to
J u n e 3 0 _____
1 9 ,0 1 4
17,961
6,689
3 5 ,2 9 5
J an 1 t o
J u n e 3 0 ______
35 ,0 5 1
12 ,8 4 7
12 ,3 2 2
J u ly 1 t o
J u n e 3 0 . ____
7 3 ,0 1 9
7 5 ,8 9 7
2 9 ,0 7 3
2 6 ,1 3 3
Illin o is C e n t r a l.a _______ J u ly 4 ,3 4 2 ,1 4 6
3 ,7 4 8 .9 9 9
1 ,1 5 9 ,3 9 8
9 0 7 ,1 1 7
I n te r o c e a n ic o f M e x ic o . .J u l y
5 8 1 ,7 6 1
5 1 1 ,0 8 7
137,261
1 1 2 ,0 7 5
J an 1 t o J u ly 3 1 _______ 4 ,0 8 0 ,2 5 1
3 ,7 4 2 ,8 0 2
8 5 6 ,4 8 4
1 ,2 2 0 ,7 9 0
L e h ig h V a lle y — L e a s e d lin es in N e w Y o r k S t a t e , b—
A p r 1 t o J u n e 3 0 _______ 2 ,2 3 9 ,9 1 6
2 ,4 2 8 ,7 1 7
73 5 ,6 3 2
5 3 7 ,8 3 8
J an 1 to J u n e 3 0 _______ 4 ,3 3 1 ,5 4 8
4 ,3 9 2 ,8 2 5
1 ,1 6 4 ,5 0 8
1 ,0 8 3 ,3 0 1
2 .9 0 9 ,5 3 7
J u ly 1 to J u n e 3 0 _______ 9 ,5 7 5 ,6 6 8 1 9 ,3 8 5 ,2 3 6
2 ,5 7 3 ,5 2 4
L e x in g to n & E a s t e r n .b _ J u ly
5 0 ,2 7 6
4 3 ,3 9 0
23,041
1 6 ,9 4 9
L o u is v ille & N a s h v . b ___J u ly 3 ,7 1 1 ,7 6 0
3 ,3 0 7 ,9 8 2
1 ,0 1 9 ,6 1 2
9 1 7 ,3 7 5
M e x ic a n I n t e r n a t i o n a l - .J u l y
5 8 9 ,5 7 7
50 8 ,6 5 1
164,137
2 0 3 ,7 8 3
J an 1 t o J u ly 3 1 _______ 4 ,6 2 7 ,1 0 7
3 ,7 5 1 ,1 3 2
1,8 4 0 809
1 ,4 3 4 ,6 5 1
M in n S t P a u l & S S M _ b _ J u ly 1 ,0 8 2 ,9 7 6
7 7 7 ,4 3 4
5 3 9 ,2 2 7
3 4 5 ,9 1 8
M issou ri P a c ific S y s t b .J u n e 3 ,6 0 4 ,9 0 2
3 ,3 1 8 .1 5 0
1 ,0 7 3 ,2 7 4
8 1 8 .8 2 2
J u ly 1 t o Ju n e 3 0 _______ 4 4 ,5 6 6 ,8 2 1 4 3 ,1 6 5 ,3 8 5 1 4 .2 8 4 ,4 1 6 1 3 ,0 3 5 ,3 9 0
N ash C h a tta n & S t L . b . J u l y
9 1 0 ,2 4 7
80 1 ,2 4 9
2 24,171
2 0 2 ,2 3 5
N a tio n a l R R o f M e x ic o J u ly 1 ,1 8 8 ,0 4 2
9 8 2 ,2 0 6
4 2 8 ,7 5 2
3 2 7 ,7 2 0
Jan 1 t o J u ly 3 1 _______ 8 ,5 8 1 ,9 6 7
7 0 92,551
3 ,3 5 8 ,9 6 6
2 ,3 1 5 ,7 4 9
H id a lg o & N o r t h e a s t .J u ly
86 206
__________
2 7 ,2 5 2
A p r 25 t o J u ly 3 1 _______
2 8 7 ,5 1 4
. . . ______
97 ,0 9 0
N e w Y o r k 6c O t t a w a , b—
A p r 1 t o J u n e 3 0 _______
39,661
4 1 ,9 2 3
319
4 ,0 5 3
N o r fo lk & W e s t e r n .b ---- J u ly
2 ,4 0 1 ,3 6 8
2 ,1 2 7 ,7 4 7
8 8 5 ,9 7 6
7 8 0 ,4 0 3
N o rth e rn C e n tr a l, b ____ J u ly
9 7 8 ,7 1 5
853 015
2 4 6 ,3 3 2
182,932
J an 1 t o J u ly 3 1 _______ 6 ,4 5 4 ,5 0 9
5 ,8 4 9 ,1 0 9 1 ,4 0 8 ,8 1 6
8 3 4 ,6 1 6
P e n n sy lv a n ia L in es d ir e c t ly o p e r a te d —
E ast o f P itts & E r ie . .J u l y 1 2 ,4 0 6 ,8 6 5 1 0 ,7 8 3 ,8 6 5
4 ,1 3 5 ,6 0 8
3 ,3 7 5 ,4 0 8
Jan 1 t o J u ly 3 1 _______ 8 2 ,2 3 3 ,8 1 4 7 2 ,7 5 8 ,7 1 4 2 3 ,6 7 2 ,8 5 4 1 9 ,0 3 8 ,7 5 4
W e s t o f P itts 6c E r i e . .-J u ly
In c
7 8 1 ,9 0 0
In c
14 9 ,3 0 0
J an 1 t o J u ly 31 .
I n c 5 ,1 9 0 ,3 0 0
I n c 1 ,9 1 5 ,9 0 0
P h ila B a lto 6c W a s h . b . . -J u ly 1 ,3 6 6 ,2 7 8
1 ,2 3 4 ,0 7 8
3 8 9 ,5 3 4
3 5 0 ,8 3 4
J an 1 to J u ly 31 _
8 ,8 7 9 ,5 8 9
8 ,3 0 4 ,0 8 9
2 ,1 3 0 ,6 9 4
1 ,8 7 5 ,5 9 4
_____ ___
P o c a h o n ta s C o llie rie s__ -J u ly __________
2 3 ,0 1 4
17,283
R io G ra n d e J u n c t io n . . _ Ju n e
65,689
51 ,0 0 2
n l 9 ,707
m 5 ,3 0 1
D e c 1 t o J u n e 30 .
3 7 0 ,7 2 5
3 1 1 ,0 3 6
n l l l , 217
n 9 3 ,310
R io G ra n d e S o u th e r n , b.-J u ly
50 ,5 1 3
45 ,8 9 5
2 2 ,2 9 3
17,338
R o c k Isla n d S y s t e m . a . .- J u ly 4 ,4 0 8 ,9 8 7
3 ,8 7 1 ,3 8 6
1 ,2 7 8 ,0 7 9
9 0 4 ,0 2 6
S t J o se p h & G r I s la n d , a .J u l y
14 2 ,7 1 9
1 3 3 ,8 4 8
4 8 ,1 0 5
4 2 ,5 3 5
S t L a w r e n c e 6c A d ir o n d _ b—
A p r 1 t o J u n e 30 _
8 9 ,6 0 2
7 0 ,0 4 7
17 ,9 8 4
3 9 ,1 3 0
S t L o u is & S an F r a n . a . -J u ly 3 ,5 7 4 ,2 2 3
3 ,1 5 6 ,8 4 4
1 ,1 4 9 ,7 1 1
9 4 3 ,6 5 8
S o u th e rn R a ilw a y S y s te m —
S o u th e rn R a ilw a y .a _ .J u ly 4 ,4 7 9 ,7 9 5
4 ,0 2 2 ,9 5 4
9 3 6 ,7 4 2
9 4 7 ,1 2 8
M o b ile 6c O h io a
.J u l y
7 0 3 ,4 3 5
8 0 4 ,3 5 0
2 5 1 ,6 0 3
2 1 4 .0 0 3
Cin N O 6c T e x P a c . a . J u ly
7 5 3 ,1 7 3
6 1 3 ,3 8 6
1 79,855
15 2 ,3 2 5
A la b a m a G t S o u t h .a J u ly
2
9
1
.7
7
9
3 2 3 ,7 6 8
67,032
4 6 ,6 1 8
.. G e o r g i a S o u th & F l a .a J u l y
171,261
1 48,270
31,229
4 1 ,7 7 3
T e x a s C e n t r a l.a .
.J u ly
67 ,6 9 9
62,768
26 ,6 0 3
24 ,7 9 1
W e ste rn M a r y la n d .a ___ Ju n e
4 6 2 .5 0 0
35 0 .7 1 0
2/183,754
2/95,068
J u ly 1 t o J u n e 3 0 ..
4 ,8 0 2 ,0 9 4
3 .9 0 0 ,2 4 8 y\ ,6 96,412 2/1,387 ,827

P reviou s
Y ea r.

Latest Gross E arnings.
Name of
Road.

a A m e rica n R y s C o ___
c A u r E lg in & Chi R y _
B in g h a m to n R y ______
B irm R y L t & P o w e r
B o sto n & W o r c e s te r .
B r o c k to n & P ly S t R y
B u rlin g to n (V t) T r a c
C am den & T r e n to n R y
C ape B reton E le c C o .
C ent P e n n T r a c t io n . _
C hari C on R y G a s& E l
C h a tta n o o g a R y s C o .
C h ica g o & M ilw E le c .
d C h ic & O ak P a r k . .
C itize n s’ R y & L t C o .
C leve P a in esv & E ___
C lev e & S W T r C o . . .
C olu m b u s R R C o ____
G as L ig h t C o ______
D allas E le c C o r p ’ n ___
D e tr o it M o n 6c T o l ___
D e tr o it U n ite d R y ___
D u lu th S treet R y ___
E a st S t L o u is 6c S u b .
El P a so E le c tr ic ______
F t W a y n e & W a b a sh
V a lle y T r a c t io n ___
G a lv e sto n E le c tr ic Co
G eorg ia R y 6c E le c ._
H a rt 6c S p rin g St R y .
H a v a n a E le c tr ic R y .
H on olu lu R a p id T r 6c
L a n d C o ___________
H o u g h to n Co S t R y _ _
H o u sto n E le c tr ic C o .
Illin ois T r a c tio n C o__
In d ia n a p Coi 6c S o ___
J a ck so n C on sol T r ___
J a c k so n v ille E lec C o .
K a n C ity R y & L ig h t
L a k e S h ore E le c R y .
L ehigh V a lle y T ra n sit
L o ra in S treet R y ____
M a d ison 6c l n t T ra c_ _
M anila E le c R y 6c L tg
C orp — R y D e p t —
L ig h tin g D e p t ____
M et W e st S id e E lev __
M ilw E lec R y & L t Co
M ilw L t H t & T r C o . .
M on trea l S treet R y . _
N a sh v ille R y 6c L t ___
N J & H R R y & F y Co
N O R y 6c L ig h t C o ._
N iagara St C 6c T o r . .
N o r O h io T r 6c L t C o .
N o rth e rn T e x a s T r Co
N o rth w e ste rn E le v ._
O a k la n d T r a c tio n C o .
O k la h o m a C ity R y _ .
O lean S treet R y ______
O ran ge Co T r a c t io n . _
P eek skill L t 6c R R ___
P itts M ’ K 6c G r e e n ..
P o r tla n d R y s C o ------St J o se p h (M o) R y L t
H eat 6c P o w e r C o . _
S a v a n n a h E le c tr ic Co
S o u th S id e E le v a t e d .
S y ra cu se R a p T r R y .
T a m p a E le c tr ic C o . _
T erre H a u te T & L Co
T o le d o R y s & L ig h t .

W eek or
M onth.
J u l y ______
J u n e ____
J u ly —
_
J u l y --------J u ly ______
J u n e ___
J u l y ______
J u l y ___
J u n e _ ___
J u n e _____
J u l y --------J u l y --------J u l y ______
A u g u s t ___
J u ly ______
J u l y _____
J u ly
------J u n e ____
J u n e ______
J u n e ____
4 th w k A u g
4 th w k A u g
4 th w k A u g
J u l y ______
J u n e ______

J an . 1 to latest date.

Current
Year.

Previous
Year.

Current
Year.

Previous
Year.

%

$
254,835
97,448
31,611
129,586
60,347
10,229
12,307

$
1 ,5 2 5 ,6 8 4

$
1 ,3 7 5 ,4 2 7

275,676
113,154
32,468
1 5 9 ,92S
66,431
10,808
13,480
19,881
21,302
61,869
61,727
45 ,8 6 9
97 .4 2 5
66,259
13,069
32,630
64,136
17,644
1.892
88,821
11,563
172,423
2 1 ,7 6 6
182,309
32.183

1 7 ,9 7 1
54,131
5 8 ,3 6 3
38,554
67,263
65,971
10,276
3 0 ,6 5 3
54,822
14,900
1,893
76,921

170,874 1

15 5 ,1 1 4

281,163

2 5 0 ,6 5 9

______
_____
31 6 ,6 1 7
37 6 ,5 2 0
27 0 ,5 5 7
4 2 9 .2 9 8
55 2 ,4 2 5

2 6 4 .9 3 7
3 4 6 ,0 8 9
2 3 1 ,5 8 9
2 7 9 ,2 3 6
5 3 4 ,3 9 7

146,518
35 3 ,4 1 3

13 0 ,0 7 0
2 9 2 ,1 9 8

154,287
19,201
144,173
22,144

&177,898
3 ,7 5 9 ,5 5 7
5 0 2 ,1 7 5
97 0 ,2 3 6
180,822

3 ,3 1 1 ,2 9 5
4 3 2 ,2S1
8 4 5 ,3 8 4
137,193

J u ly _
.
106,898
J u n e ____
32,165
J u l y --------- 237,100
J u n e ______ . _______
W k S ep 2 2/29,345

93,855
25,195
20 2 ,9 9 4

60 4 ,1 4 6
139,461

5 2 0 ,0 1 4
121,169

7 0 ,3 5 0

5 7 .8 7 6
2/948,206

28,880
20,151
51,158
26 2 ,5 4 5
22,678
17,550
2 6 .8 4 6
46 8 ,9 5 9
97 ,1 2 3
7 6 ,4 0 3
13,144
12,239

2 7 ,3 9 0
714,634
4 4 ,8 5 4
207,252
19,498
15,997
27,355
417,291
87,649
69,403
11,260
11,715

J u ly _____
J u n e _____
J u n e ___
J u ly _ . . .
J u l y --------J u ly _ . . .
J u n e ______
J u ly ______
J u l y ______
M a y ______
J u n e ____
J u l y ______

yZ 7,807 ?/l,0 2 6 ,6 2 2
198,807
100 088
27 4 ,1 8 0
1 ,6 2 4 ,3 7 3
127,487
8 3 ,2 6 0
152,101
3 ,0 4 0 ,7 9 7
4 7 3 ,3 1 3
47 3 ,6 3 2
68.182
71,250

J u ly
43 .7 5 0
J u ly _ ___
30,000
A u g u s t ___ 191,443
J u ly _____
302,096
J u ly
.
S I ,611
65,270
W k S ep t 1
J u ly . _ _ 112,368
J u ly
_
50,591
J u ly _ _ _
443,831
A p r i l ______
16,609
J u l y ____
104,454
7 3 ,0 3 2
J u n e ______
A u g u s t ___ 113,422
A p r i l -------151,525
Ju ly --------IS ,500
A p r i l ______
9,920
13,030
J u n e __
15,219
J u n e ______
J u l y ______
26,615
J u n e ______ 7:144,677

30 5 ,7 5 0
20 5 ,2 5 0
180,411 1 ,6 1 1 ,3 0 7
275,442- 1 ,9 5 3 ,9 6 2
374,434
70,658
5S,8S6 2 ,1 0 6 ,5 7 4
9 4 ,8 2 8
763,048
239,534
4 4 ,5 7 6
3 ,3 4 2 ,9 1 9
14,576
51.352
100,049
56 5 ,5 1 0
57,849
106,854
97 5 ,2 0 8
122.246
94,841
14,093
10,934
3 5 ,8 1 4
12,102
56 ,9 2 8
12.904
65,976
123,098
22,423
177,674

J u ly —
.
J u n e ______
A u g u s t ___
J u ly _____
J u n e _____
J u n e ______
J u l y ______

71,056
53,177
132,196
82,549
35,576
5 5 ,5 4 3
171,994

75,038
58,224
137,235
93,431
36,446
66,667
180,969

46 7 ,7 6 4
304,008
1 ,152,541
610,547
224,526
360,957
1,1 4 3 ,4 7 1

187.688
/ 5 5 ,959
2 3 3 .1 9 5
1,317 135
110,617
69.496
161 ,6 1 4
2 ,6 7 3 .9 0 6
4 1 4 ,2 7 8
58,241
63 ,9 7 4

1 ,4 6 7 ,8 1 1
1,8 1 7 ,9 0 1
327,483
1 ,8 3 0 ,5 5 2
643 ,7 6 3
190.428
4 6 ,8 7 4
525 ,5 2 7
914 ,9 1 9
33,961
5 1 ,1 1 8
56 ,4 7 8
100,328
4 1 4 ,2 3 3
275,463
1,0 7 8 ,8 9 2
536,559
199,497
286,872
1 ,0 6 7 ,7 8 8

Latest Gross Earnings.

Name of
Hoad.

W eek or
M o n th .

T o l U rb & In ter R y . _
T o le d o & W e s t e r n ...
T o r o n t o R a i l w a y ------T ri-C ity R y & L t C o .
T w l:i C ity R a p id T r ..
U n ited R y s o f S F —
U lilted R y s o f St L . .
W a s h A lex & M t Ver_
W h a t c o m C o R y Sc L t
C o .................... ...................

P r e v io u s
Y ea r.

C u rren t
Y ea r.

.

$
3 0 ,9 4 5
J u l y ______
1 9 .4 3 5
M a y ............
7 7 .2 0 2
W k Sep 1
14 0 .2 9 7
J u l y ______
17 2 .4 2 6
3d w k A u g
J u l y ---------- / J 5 0 4 . 0 2 3
J u l y _______ 7 9 4 . 2 2 0
2 7 ,1 7 6
J u l y _______

$
2 7 ,0 9 2
2 0 ,3 0 6
7 0 .0 0 0
12 4.48 4
9 7 ,5 8 2
57 6 ,8 6 3
72 6 ,8 6 1
20 ,4 2 1

2 0 ,3 1 0

1 4 ,9 6 4

J u n e _______

Jan.

1 to

C u rren t
Y ea r.

la te s t

d a te .

P r ev io u s
Y ea r.

$
1 9 2 ,7 9 7
9 2 ,0 3 5

5
16 6.67 8
8 3 ,8 7 4

3 ,5 0 8 ,8 4 2

2 ,8 9 1 .2 6 1

5 ,1 0 4 .4 8 8
1 5 8,94 1

4,7 7 2 .9 4 9
1 4 1 ,5 8 7

___

a F i g u r e s f o r t h e m o n t h In b o t h y e a r s I n c l u d e o p e r a t i o n s o f t h e S c r a n t o n
R y .. a cq u ired J a n . 1 1906.
0 T o t a l Is f r o m M a r c h 1.
c T h e s e figu res are
for c o n s o lid a te d c o m p a n y ,
d T h e s e a re resu lts fo r m a in lin e.
f D ecrease
In 1 9 0 5 d u e t o s t r i k e a n d b o y c o t t ,
h T h e s e are ea rly p r e lim in a ry retu rn s:
d e c r e a s e d u e t o e a r t h q u a k e a n d f ir e ,
k D e cr e a s e d u e t o L e w is & C lark
E x p o s i t i o n last y e a r ,
y F i g u r e s f o r b o t h y e a r s n o w In A m e r i c a n c u r r e n c y .

Street Railway Net Earnings.— The following table gives
the returns of STREET railway gross and net earnings,
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Sept. 1 1906. The
next will appear in the issue- of Sept. 29 1906.
-G r o s s E a r n ’ g sC u rrcn t
P r ev io u s

Roads.
Ft W a y n e & W a b V a l - - J u l y
Jan 1 t o J u ly 3 1 ---------H o n o lu lu R T & L C o .b _ J u ly
Jan 1 to J u ly 3 1 . . .
L a k e S h ore E l e c t . a ____ J u ly
Jan 1 t o J u ly 3 1 ______
N iagara G org e R R . b —
Jan 1 to J u n e 3 0 _______
R o ch e s te r R y _ b —
• • A p r 1 t o J u n e 3 0 _______
• • Jan 1 to J u n e 3 0 _______
J u ly 1 to J u n e 3 0 _______
T r i-C ity R y Sc L t . a ____ J u ly
A p r 1 to J u ly 31
.. .

N et E a r n in g sC u rren t
P reviou s

Year.

Year.

Year.

Year.

$
1 0 6 ,89S
6 0 4 ,1 4 6
2 8,8 80
1 9 8 ,80 7
9 7 .1 2 3
4 7 3 ,3 1 3

$
9 3 ,8 5 5
5 2 0 ,0 1 4
2 7 ,3 9 0
1S7.6S8
8 7 ,6 4 9
4 1 4 ,2 7 8

$
3 9 .7 8 8
2 2 4 ,5 8 3
1 1,807
8 1 ,7 5 3
5 1 ,3 4 3
2 0 1 ,2 9 4

$
3 4 ,5 3 3
193.189
1 0,6 80
6 9 ,3 9 8
46.S 6 3
1 7 5 ,3 6 0

2 3 ,3 6 3
2 9 ,7 5 5

2 3 ,2 9 3
2 8 .5 8 7

5 ,0 2 6
d e f .743

2 ,71 9
d e f.3,265

5 4 8 ,4 5 7
1 ,0 3 5 ,7 3 8
2 ,0 7 2 ,5 7 3
1 4 0 ,2 9 7
5 1 5 ,9 6 6

4 5 9 ,3 1 9
8 7 5 ,5 1 7
1 ,7 4 5 ,0 9 8
1 24 ,48 4
4 6 7 ,2 9 2

216 305
4 1 4 ,0 4 3
8 6 7 ,6 6 9
60,391
1 88 ,84 4

2 1 3 ,5 9 0
3 79,687
7 74,375
4 5 ,2 0 0
1 6 7 ,6 4 2

- __

* a N e t ea rn in g s h ere g iv e n are a fte r d e d u c t in g ta x e s .

• bN et

ea rn in g s h ere g iv e n a re b e fo r e d e d u c t in g ta x e s .

Interest Charges and Surplus.
—I n t . , R e n t a l s , & c -----C u rren t
P r ev io u s
Y ea r.
Y ea r.
$
$

R oad s.

..J u ly
L a k elS h ore E le ct.
• • Jan 1 to J u ly 3 1 .

4 ,8 4 0
3 3 ,5 0 5

x 7 ,474
£ 5 1 ,4 3 9

£ 6 ,3 5 8
£ 3 8 ,6 8 2

2 0 ,4 2 8
1 4 2 ,8 5 2

2 0 ,4 0 4
1 4 2 ,82S

3 0 ,9 1 5
5 8 ,4 4 2

2 6 ,4 5 9
3 2 ,5 3 2

1 3 ,400
2 6 ,3 9 6

1 3 ,551
2 6 ,3 9 6

d e f .8 ,3 4 6
d e f. 2 7 ,1 2 0

d e f . 1 1 ,0 7 4
d e f .3 0 ,5 1 0

9 9 ,7 6 0
1 9 3 ,5 0 6
3 8 1 ,5 5 8

9 1 .7 2 3
1 8 1 ,2 6 4
3 7 3 .4 1 6

£ 1 1 9 ,7 2 7
£ 2 2 6 ,9 1 8
£ 5 0 6 ,9 2 1

£ 1 2 5 ,6 7 9
£ 2 0 2 ,5 6 0
£ 4 1 9 ,5 2 1

N ia ga ra G o rg e R R —
-A o r 1 to June 30.
• Ja n 1 t o J u n e 30
Ry
to
to
to

—
June 30.
J u n e 30
June 30.

-J u ly
T r i - C i t y R y Sc L t _
A p r l" t o J u l y 3 1 .

x[A f t e r

— B a l. o f N e t E a r n 's —
C u rren t
P r ev io u s
Y ea r.
Y ear.
$
$

4 ,7 9 3
3 3 ,7 7 2

H o n o lu lu rR T & L C o . . . J u l y
* • Jan 1 to J u ly 3 1 .

R och ester
Apr 1
Jan 1
J u ly 1

559

THE CHRONICLE

S e p t . 8 1906. |

2 7 ,6 7 3
8 9 ,9 1 8

3 2 ,7 1 8
9 8 ,9 2 6

a llow in g fo r oth er in c o m e re ce iv e d .

ANNUAL

REPORTS.

Annual Reports.— The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the “ Railway and Industrial” and “ Street Railway”
sections.
This index does n o t include reports in to-day’s “ Chronicle.”
Railroads—

Page.

B a n g o r <5c A r o o s t o o k ________________ 3 7 9
B o s t o n Sc M a in e ______________________ 3 7 6
BarTalo R o c h e s te r <5c P i t t s . . 3 2 0 , 3 2 8
C a lifo r n ia N o r t h w e s te r n ___________ 271
C a n a d ia n P a c ific ______________4 8 9 , 5 0 0
C e n tr a l o f G e o r g ia _____3 7 7 , 3 8 3 , 4 3 2
C h ic . B u r l. <5c Q u in c y R y . ............... 4 8 9
C h ic a g o G r e a t W e s t e r n _____________4 3 2
C le v e la n d A k r o n Sc C o l u m b u s .- 152

___________________489
G u lf Sc S h ip I s la n d ___________________ 3 7 7
H o c k in g
V a lle y
(p r e lim in a r y
s t a t e m e n t ) ..............................
209
L o u is ia n a & A r k a n s a s ...................
377
L o u is v ille Sc N a s h v ille ______________ 4 3 2
M i s -'
a s ________3 7 6
N a s h v ille C h a t t a n o o g a Sc S t L _ _ 3 7 6
N e w \ o rk O n ta r io Sc W e s t e r n . _ 3 7 6
N o r fo lk Sc W e s t e r n ________ _________ 3 7 6
S e a b o a r d A ir L i n e . ................................ 4 8 9
S o u th e r n P a c i f i c .______ ______________3 6 7
S o u th e r n R a ilw a y C o .............................2 6 7
U n io n P a c i f i c ____________
376

Industrial Companies—
A m e r ic a n A g r ic u ltu r a l C h e m ic a l
A m e r ic a n C ereal (b a l. s h e e t ) ___
A m e r . D e F o r e st W ir e le ss T e l e ­
g ra p h (s t a t e m e n t J u ly 1 9 0 6 ) .
A m e r ic a n <3c B ritish M fg . C o _____
A m e r ic a n Iron Sc S teel M fg . C o .
A m e r ic a n T h r e a d C o ____________
A p p le t o n ' D .) Sc C o . (b a l. sh eet)
B r itis h W e s te r n E le c tr ic Sc M f g .
B n in sw l
D o c k Sc C it y I m p t .
(b a l. s h e e t ) ...........................................
C a lifo r n ia W i n e A s s ’ n (b a l.s h e e t)
C a lu m e t Sc H e c la M in in g _________
C a n a d ia n G en eral E le c t r ic ............
C a n a d ia n W e s t l n g h o u s e ________
C e n tr a l F o u n d r y .................... .. . 4 3 3
C h ic a g o P n e u m a tic T o o l (6 m o s .)
C o lo r a d o F u el Sc I r o n ..........................
C o lo r a d o I n d u s t r i a l .............................
C o n s o l. C o tto n D u c k (h a lf-y e a r )

377
321

211
268
268
268
434
320
322
269
209
321
321
489
381
377
378
433

Industrial Companies— (Con.) Page
C o n so lid a te d R u b b e r T i r e -----------378
C r o w ’s N est P a ss C oa l C o _______ 270
D e tr o it M a ck in a c & M a rq u e tte
L a n d G r a n t ____________________ 432
D o m in io n Ir o n Sc S te e l___________ 210
E d ison E le c . III. o f B o s t o n ______ 495
E le c tr ic C o . o f A m e r ic a ___________ 321
G a lv e s to n W h a r f _______ ______ - - 322
G lo b e -W e r n ic k e (b a l. s h e e t )____ 434
G rea t W e ste rn C ereal (b a l. sh eet
A p ril 3 0 ) _____________
433
G u lf R e fin in g (b a l. s h e e t )................434
K in g s C o. E le c . L ig h t Sc P o w e r . 212
M a rcon i W ire le ss T e le g r a p h C o.
o f A m e r ic a --------------------------------- 211
M ex ica n L ig h t Sc P o w e r ---------------490
N a tio n a l E n a m e lin g Sc S ta m p in g 433
N a tio n a l R ic e M illin g --------------------- 433
N o v a S c o tia S teel Sc C o a l-----------210
P a g e W o v e n W ire F e n c e (b a l.sh ) 322
P itts b u r g h P la te G lass C o .............269
P o c a h o n ta s C ollieries C o . (o f V a) 270
R o g e r s (W m . A . ) , L t d ., C an a d a
(b a la n c e s h e e t ) __________
434
S e cu ritie s C o o f N. Y . (b a l.sh e e t) 270
S o u th e rn C o tto n O i l . .......... ...............276
T o r o n t o E le c tr ic L ig h t --------------- 321
U n ion El. L t Sc P. Co. (St. L ou is) 269
U n ite d S ta te s E n v e l o p e ........... - 378
U n ite d S ta te s G la s s _______________ 434
U n ite d S ta tes S teel (6 m o n th s)
267
W e lls F a rg o <5c C o ________ .2 6 8 ,4 3 4
W e stln g h o u se E le c tr ic Sc M a n u ­
fa c tu r in g (6 y e a r s ) _____ 2 0 9 . 320
W o lv e r in e C o p p e r M in in g
—
329
W o lv e r in e P o r tla n d C e m e n t ------ 434
Street Railways—
C en tra l P e n n s y lv a n ia T r a c tio n - .4 91
K a n sa s C ity R a ilw a y Sc L i g h t . . 319
M e tro p o lita n S e cu ritie s (b a la n ce
1J2
sh eet M a rch 3 D ...................
R a ilw a y s C o m p a n y G en eral
433
W e s t In d ia E le c tr ic C o . L td . . 152

Norfolk & Western Railway.
Y e a r e n d i n g J u n e 30 1900.)
On pages 572 to 576 will be found the report of Mr. L. E.
Johnson, the President, and also the balance sheet. Below
we publish a comparison for several years:
(R ep o rt fo r F is c a l

O p er a tio n s , E a r n in g s and E x p e n s e s .
19 05 -00.
19 04 -05.
19 05 -04.
M iles o p e r a t e d J u n e 30 _ _
1,801
1 ,8 33
1 ,7 69
E q u ip m en t—
734
L o c o m o t i v e s .................... ...
668
610
350
324
294
P a s s e n g e r c a r s ------------------3
1
,
0
1
7
2
6
,
2
3
7
2
5
,
4
99
F r e i g h t c a r s ...... ......................
5
8
3
583
588
M a l n t . - o f - w a y c a r s ---------7
7
7
B a r g e s .......................................
O p er a tio n s —
3
,
8
0
5
,
6
6
8
3
,
5
3
0
.
9
6
2
R e v e n u e pass, c a r r i e d ..
3 ,5 9 4 ,9 6 5
P a s s e n g e r s c a r r i e d l m . _ 1 5 4 , 8 6 0 , 3 1 2 141 , 1 5 9 , 7 5 2 1 3 6 , 5 2 1 , 5 6 5
2
.
/
3
o
c
t
s
.
2
.
6
2
9
c
t
s
.
R a t e p er pass, p er m i le .
2 .3 0 8 cts.
1 9 ,2 6 0 ,5 3 4
1 5 .8 5 2 ,3 2 3
1 4 ,1 2 1 ,6 5 2
T o n s r e v . f r 't c a r r ie d —
0 5 ,0 1 1 ,4 6 6
T o n s fr 't c a r ’ d 1 m ile —
04 2 7 0 ,2 3 9
a 3 ,8 3 0 ,794
0 .4 8 4 cts.
R a t e per to n p er m ile —
0 . 4 7 7 Cts.
0 . 4 9 3 Cts.
579
A v . r e v . tr. lo a d ( t o n s ) .
488
53 1
$ 2 .8 0 4 2
$ 2 .5 3 6 2
E a rn s, per fr ’t tr. m i l e . .
$ 2 .4 3 2 4
$ 1 .2 1 4 2
E a rn s, p e r pass. tr. m ile
$ 1 .0 9 1 5
$ 1 .1 5 7 0
G r o s s e a r n s p e r m i l e -------$ 1 5 ,3 7 4
$ 1 3 ,3 9 0
$ 1 3 ,2 3 3
E a r n in g s —
$
$
$
3 ,5 9 8 ,5 5 8
3 ,1 5 0 .8 5 9
P a s s e n g e r ...............................
3 ,1 5 8 ,7 7 3
2 0 ,2 4 9 ,3 9 9
1 8 ,8 9 4 ,9 4 1
F r e i g h t __________________
- 2 4 ,1 1 1 ,8 0 1
2 6 4 ,5 7 6
2 2 4 ,1 3 7
2 2 2 ,9 7 8
M a i l ............ .........................
3 1 8 ,6 1 4
3 6 4 ,5 7 9
E x p r e s s _ ___________ —
3 1 0 ,0 4 0
14vS ,252
M i s c e l l a n e o u s .................... ..
1 3 8 ,3 3 7
1 4 0 ,1 5 7

19 02 -03.
1 ,722
579
278
2 5 ,8 0 1
506
7
3 ,1 6 9 .5 7 4
1 2 3 ,1 2 4 ,6 3 5
2 .3 0 8 cts.
14 1 1 0.18 1
0 3 .6 3 9 .6 8 4
0 .4 8 6 cts.
489
$ 2 .3 8 1 8
$ 1 .1 2 7 9
$ 1 2 ,3 5 3
$
2 ,8 4 1 ,4 9 1
1 7 ,0 7 6 ,3 4 9
2 1 7 ,6 9 4
2 4 7 ,0 2 6
1 7 8 ,1 1 6

T o t a l .......................... ...........
E xp en ses—
M a l n t . o f w a y , S e c _______
M a l n t . o f e q u i p m e n t ___
C o n d u c t ’g t r a n s p o r t a t ’ n
G eneral
. ___
T a x e s ------------ ---------------- _

2 8 ,4 8 7 ,7 6 6

24 0 8 9 .2 6 0

2 2 ,7 1 8 ,9 7 7

2 1 ,1 6 0 ,6 7 5

3 ,4 3 9 ,7 9 7
4 ,7 4 9 ,8 3 2
8 ,3 5 5 375
5 1 9 ,6 2 1
7 3 5 ,0 0 0

3 ,0 9 5 ,9 1 0
3 ,9 1 7 ,2 6 8
7 ,1 3 6 ,4 8 4
4 6 4 ,7 7 2
671 .000

2 ,8 5 4 ,1 6 4
3 ,5 5 0 ,9 6 8
6 ,8 1 3 ,4 9 6
4 5 4 ,7 0 0
6 7 1 ,4 0 2

O w in g to
change of
c la s s ific a t’n,
cannot
be
com pared.

T o t a l ---------- —
P . c. e x p . t o ea rn in gs - N e t earn in g s _
___

1 7 ,7 9 9 ,6 2 3
(6 2 .4 8 )
1 0 ,6 8 8 ,1 4 3

1 5 ,2 8 5 434
(6 3 .4 5 )
8 ,8 0 3 ,8 2 6

1 4 ,3 4 4 ,7 3 0
(6 3 .0 9 )
8 ,3 7 4 ,2 4 7

1 2 ,6 9 7 ,4 3 0
(60 )
8 .4 6 3 ,2 4 5

a T h r e e c i p h e r s ( 0 0 0 ) <o m i t t e d .
In co m e A cc o u n t.
19 05 -06.
19 04-05.
$
$
N e t e a r n i n g s _________
1 0 ,6 8 8 ,1 4 3
8 ,8 0 3 ,8 2 6
O ther in com e . _
. . .
1 6 5 ,3 4 5
2 1 0 ,5 7 3

1 9 03 -04.
$
8 ,3 7 4 ,2 4 7
1 4 7 ,2 3 2

19 02 -03.
$
8 ,4 6 3 ,2 4 5
1 4 8 ,2 5 9

8 ,5 2 1 ,4 7 9

8 ,6 1 1 ,5 0 4

2 ,6 0 3 ,5 1 0
1 5 6 .8 8 9

2 ,4 3 5 ,6 9 0
625

T otal
_____ 1 0 , 8 5 3 . 4 8 8
9 ,0 1 4 ,3 9 9
D ed u ct—
I n t e r e s t o n b o n d s ________
3 ,0 6 9 ,1 4 7
2 ,8 6 2 ,9 3 3
I n t e r e s t o n c a r t r u s t s ___
3 1 6 ,6 4 1
2 2 6 ,6 6 7
D e f . in t. o n P o c a h o n t a s
Coal & C oke C o. b on d s
1 8 8 .0 0 0
2 1 6 ,0 0 0
4 % d i v i d e n d s o n p r e f ___
9 1 9 ,6 4 4
9 1 9 .5 3 0
D iv id e n d s on c o m m o n
( 4 ) 2 , 5 7 8 , 7 6 8 (3 ) 1 , 9 3 4 , 0 7 6 i ( 3 )
B e t t e r m e n t f u n d _________
2 ,2 5 0 ,0 0 0
1 ,0 0 0 ,0 0 0
A d d itio n a l e q u ip ’t fu n d .
7 0 0 .0 0 0
1 ,2 5 0 .0 0 0
D i s c o u n t Sc c o m . o n b d s .
sold , a d v a n ces t o sub.
c o s . , b r a n c h l i n e s , Scc . _
a 5 5 ,7 8 6
a l 6 0 ,197
R e n t s ______________________
1 5 .3 2 3
T o t a l ____________________
S u r p l u s ____________________

1 0 ,0 9 3 ,3 0 9
7 6 0 ,1 7 9

8 ,5 6 9 ,4 0 3
4 4 4 ,9 9 6

1 5 9 ,1 7 6
2 9 5 ,5 9 5
9 1 9 ,5 2 4
9 1 4 ,8 1 8
1 ,9 3 4 .07 6 ( 3 ) 1 , 9 3 4 , 0 7 6
2 ,0 0 0 ,0 0 0
2 ,5 0 0 ,0 0 0
__________

a 8 7 ,167

3 4 7 ,0 7 8
1 3 5 ,0 0 0

7 ,9 9 6 ,7 6 1
5 2 4 ,7 1 8

8 ,4 2 6 ,4 6 3
1 8 5 ,0 4 1

a In 1 9 0 5 -0 6 , 19 04-05 a n d 1 9 03 -04 “ d is c o u n t a n d c o m m is s io n o n se c u r i­
ties s o ld ” w a s c h a r g e d t o p r o fit a n d loss a c c o u n t , in ste a d o f to in c o m e a c ­
c o u n t a s in p r e v i o u s y e a r s .
T h e a m o u n t s w e r e in 1 9 0 5 -0 6 $ 1 6 1 ,2 5 0 , in
1 9 0 4 -0 5 $ 4 0 5 ,0 4 0 , in 1 9 0 3 -0 4 $ 3 6 8 ,3 3 3 .
G en era l B a la n c e S h eet J u n e 3 0 .
1906.
1905.
1904.
A s s e t s ___
$
$
$
C o s t o f r o a d a n d e q u i p m e n t ____________ 1 5 8 , 4 6 5 , 2 9 4 1 5 5 , 1 6 8 , 8 5 5 1 5 1 . 6 5 8 , 7 6 4
I a e g e r & S o u t h e r n R R ___________________
1 ,4 9 9 ,0 2 0
9 9 ,2 0 8
5 6 0 ,1 0 6
B l a c k s t o n e Sc L u n e n b u r g R R .
2 1 .8 2 5
G u y a n d o t Sc T u g R i v e r R R .
4 9 .8 2 5
P ocah on tas & W estern R R .
1 0 2 ,6 7 7
B i g S t o n y R y __________________
1 1 ,7 4 4
C o l u m b u s T e r m i n a l & T r a n s f e r ___
E q u i p m e n t l e a s e d _____________________
C o ’ s s t o c k s a n d b o n d s In t r e a s u r y . . . .
I n v e s t m e n t s in o t h e r c o m p a n i e s . . . . .
S t a t i o n a g e n t s _________________________
T r a f f i c b a l a n c e s ________ _______________
U.
S . G o v e r n m e n t ___________________
I n d i v i d u a l s a n d c o m p a n i e s ________
...
...
P o c . C o k e Sc C o a l C o . a d v a n c e s .
M i s c e l l a n e o u s ___________________

L ia b ilitie s —
A d ju s t m e n t prel
C om m on stock.
B o n d s (see “ R y .

2 5 0 ,0 0 0
9 ,4 0 0 ,0 0 0
1 ,5 5 2 ,7 0 0
1 ,0 0 7 ,0 5 9
7 4 4 ,1 7 6
4 9 3 ,5 4 7
6 6 ,1 9 7
8 6 3 ,0 4 9
2 ,4 0 4 ,2 6 4
4 ,1 5 1 ,4 2 3
8 0 0 ,0 0 0
3 4 ,7 2 3

2 5 0 ,0 0 0
7 ,3 0 0 ,0 0 0
1 ,5 5 2 ,7 0 0
1 ,0 5 4 ,9 7 0
5 7 4 ,5 6 1
5 0 8 ,1 9 2
5 6 .1 8 4
6 7 0 ,2 1 3
1 ,7 3 3 ,8 4 5
6 ,3 3 0 ,7 3 1
4 9 5 .0 0 0
1 7 ,044

5 ,5 0 0 ,1 )0 0
1 ,5 5 8 ,7 0 0
1 ,1 9 0 ,1 5 8
4 9 3 ,9 8 3
4 0 7 ,9 1 6
5 5 ,7 5 4
68 3 ,9 2 1
1 ,5 4 9 ,5 6 8
2 ,2 0 2 ,6 9 2
4 8 3 ,0 0 0
2 6 ,1 8 1

--1 8 2 ,1 2 6 ,2 7 8
$
.
2 3 ,0 0 0 ,0 0 0
. 6 6 ,0 0 0 ,0 0 0
- - 7 1 ,2 8 9 ,5 0 0
__
9 ,4 0 0 ,0 0 0

1 ,8 1 6 ,0 7 9
9 4 ,9 4 0
2 2 7 ,4 2 4
3 6 0 .2 5 9
8 8 1 ,3 5 7
3 ,1 4 8 .7 7 1
3 , 8 0 00 , 8 5 4

1 7 6 ,2 7 2 ,4 0 4
S
2 3 ,0 0 0 ,0 0 0
6 6 ,0 0 0 ,0 0 0
6 8 ,2 8 9 ,5 0 0
7 ,3 0 0 ,0 0 0
9 4 8 ,5 4 8
9 5 0 ,6 6 1
1 ,3 7 7 ,6 5 3
7 4 ,8 1 4
12 7 .1 6 9
3 1 9 ,1 0 6
1 ,4 3 7 ,8 1 4
3 ,2 4 5 ,2 1 2
3 ,2 0 1 ,9 2 8

1 6 5 ,9 0 9 845
$
2 3 ,0 0 0 ,0 0 0
6 6 ,0 0 0 ,0 0 0
5 9 ,5 9 9 .5 0 0
5 ,5 0 1 ,0 0 0
7 5 8 ,8 6 7
8 2 8 ,5 1 2
1 ,1 3 8 ,6 4 3
4 7 ,6 9 2
2 0 0 .5 1 2
3 0 9 .4 6 9
1 .2 7 4 ,9 8 0
4 .0 9 3 ,6 9 6
3 ,1 5 6 ,9 7 3

...1 8 2 ,1 2 6 ,2 7 8

1 7 6 ,2 7 2 ,4 0 4

1 6 5 ,9 0 9 ,8 4 5

P a y -ro lls
T r a f f i c b a l a n c e s _______________
In d iv id u a ls a n d co m p a n ie s
T a x e s a c c r u e d ________________
R e s e r v e f u n d s f o r e q u i p . Sc

. .

...
P r o f i t a n d l o s s , s u r p l u s ___________________
...
T o t a l lia b ilitie s
— V . 83 , p. 4 3 5 .3 8 0

Chicago & North Western Railway.
Y e a r E n d e d J u n e 30 1906.)
The report of the President, Mr. Marvin Hughitt, will be
found on pages 565 to 567.
The comparative tables for four years, compiled for the
“ Chronicle,” are as follows:
(R e p o r t f o r F i s c a l

------------------------- F o r Y e a r s E n d i n g J u n e 3 0 ------------------------1 9 0 5 -06.
19 04 -05.
1903-04.
19 02 -03.
6,4 5 7
A v e r a g e m iles o p e r a t e d .
7,4 0 4
7 ,4 2 9
7 ,4 0 8
E q u ip m en t—
1,233
L o c o m o t i v e s _.
1 .3 0 7
1 .307
1 ,342
1.100
P a s s e n g e r c a r s ___
1 ,120
1 ,190
1 .1 4 0
5 0 .7 5 3
F r e i g h t c a r s ............
5 1 ,341
5 5 ,6 1 3
5 2 ,0 2 8
84 0
W o r k c a r s . S ec.
346
352
351
O p r r a tio n s —
2 0 .2 5 8 .5 5 3
2 1 ,3 9 5 .3 1 2
P a s s e n g e r s c a r r i e d ............ 2 2 , 9 7 7 , 3 3 5
2 1 ,5 1 6 ,3 0 3
P a sse n g e r m ilea g e
7 0 3 , 1 7 0 , 1 3 8 061 , 2 8 9 , 7 5 3 6 4 5 , 0 7 5 , 1 1 1 6 0 2 . 7 9 4 , 2 7 0
2.02 c t s .
R a te per pass, p er m ile .
2 .0 2 c t s .
2 .0 2 c t s .
2 .0 5 cts.
3 0 ,4 9 8 ,4 4 0
28.1 2 8 .8 1 0
F re ig h t (tons) m o v e d . .3 5 .7 8 8 .2 4 3
3 1 ,1 2 9 ,6 5 1
F re ig h t (tons) m i l e a g e . . 5 1 5 6 0 7 4 1 1 5 4 2 9 2 4 4 8 8 1 7 4 0 6 6 1 4 0 9 3 5 4 0 42 78 881 1
0.89 Cts
0 . 9 2 Cts.
R a te per ton per m ile . .
0 . 9 2 Cts.
0 .8 9 cts.
A v e r a g e train lo a d , r e v 2 3 0.61
2 2 4 .5 7
enue (ton s).
2 3 8 .2 3
2 6 2 .6 0
$2 0 5
$2 07
E a rn s, p er fr ’ t tr. m i l e . .
$ 2 19
$2 34
$1 01
$1 0 6
E a r n s , p e r p a s s . tr. m i le
$1 09
$1 10
$ 7 ,2 0 4
$ 7 ,8 1 3
G r o s s e a r n s , p e r m i l e ___
$8 5 4 5
$7 525

560

THE CHRONICLE
1 9 0 5 -1 9 0 6 .

1 9 0 4 -1 9 0 5 .

1 0 0 3 -1 9 0 4 -

Earnings—

1 9 0 2 -1 9 0 3 .

T o t a l e a rn in g s __ ______

6 3 ,4 8 1 ,5 7 8

1 3 ,3 3 9 ,7 1 4
3 9 ,2 9 2 ,8 3 0
3 ,1 1 2 ,7 3 1
5 5 ,7 4 5 ,2 7 5

1 3 ,0 2 7 ,7 0 8
3 7 ,2 5 4 ,5 3 9
3 ,0 5 2 ,3 8 7
5 3 ,3 3 4 ,6 3 4

1 2 ,1 6 1 ,9 9 7
3 5 ,8 1 1 ,0 0 8
2 ,0 6 6 ,1 3 7
5 0 ,6 3 9 ,1 4 2

190 5-06 .
$
7 ,5 8 1 ,9 4 2
2 62 ,12 5

190 4-05 .
$
6 ,8 6 2 ,5 4 6
1 92 ,13 4

190 3-04 .
$
6 ,3 8 7 ,9 9 1
2 14 ,34 5

1902-03.
$
6 ,6 7 4 ,7 0 9
2 09,717

7 ,8 4 4 ,0 6 7

7 ,0 5 4 ,6 8 0

6 ,6 0 2 ,3 3 6

6 ,8 8 4 ,4 2 6

In te re st on b o n d s _______
T a x e s a n d in su ra n ce ____
F o r n ew e q u ip m e n t ____
D Iv . on p f. s tk . ( 5 % ) ___
R e n e w a l f u n d ___________
C h a rged on a c c o u n t o f
b e tte rm e n ts , & c _____
M iscel. a nd r e n ta ls _____

3 ,1 9 1 ,9 0 7
7 3 7 ,5 0 2
1 ,000,000
2 ,2 8 5 ,6 3 5
1 20,000

3 ,1 8 2 ,5 7 3
7 61 ,03 8
1 50 ,00 0
2 ,2 5 0 ,0 0 0
1 20,000

3 ,1 7 0 ,8 0 2
6 7 1 ,4 7 0
________
2 ,2 2 0 ,0 0 0
1 20,000

3 ,0 8 3 ,4 0 4
662,041
________
2 ,2 2 0 ,0 0 0
120,000

1 50,000
2 0 2 ,1 8 5

1 33 ,91 5
1 78,617

________
1 85,651

4 3 6 ,7 9 7
176,420

T o t a l __________________
S u rp lu s ...................... .........

7 ,6 8 7 ,2 2 9
1 56 ,83 8

6 ,7 7 6 ,1 4 3
^ 8 ,5 3 7

6 ,3 6 7 ,9 2 3
2 3 4 ,4 1 3

6 ,6 9 8 ,6 6 2
185 764

Receipts—
N e t e a rn in g s ____________
O th e r in c o m e ___________
T o t a l _____ _______

Disbursements—

Expenses —

Maintenance o f w ay, &c.
Maintenance o f equlp’t .
Conduct’# transportat’n

6 ,8 6 4 ,8 9 8
7 ,4 6 6 ,9 4 4
9 ,0 3 2 ,1 3 5
6 ,4 1 9 ,1 8 0
2 2 ,7 8 6 ,6 8 7 2 1 ,4 6 0 ,4 4 7
G e n e r a l ____________
__
1 ,1 0 5 ,3 7 9
1 ,1 1 2 ,7 6 4
T a x e s _____________________
2 ,4 2 7 ,1 7 7
2 ,1 8 9 ,9 7 7

7 ,1 6 6 ,3 0 8
5 ,5 0 9 ,7 3 4
2 1 ,6 5 4 ,4 5 6
1 ,0 5 8 ,8 0 5
1 ,8 3 7 ,8 0 5

T o t a l _________________ 4 2 ,2 1 6 ,2 7 6
P . c . e x p s . t o e a r n s ___ __
(6 6 .5 0 )
N e t ea rn in g s _ _ ________ 2 1 ,2 6 5 ,3 0 2

37,22-7,109 3 3 ,8 5 1 ,6 7 2
(6 9 .80 )
(6 6 .85 )
1 6 ,1 0 7 ,5 2 5
1 6 ,7 8 7 .4 7

3 8 ,6 4 9 ,3 1 2
(6 9 .3 3 )
1 7 ,0 9 5 ,9 6 3

Income Account.

6 ,2 9 7 ,1 6 6
5 ,2 0 2 ,5 0 7
1 9 ,6 3 9 ,4 3 5
8 7 6 ,0 6 9
1 ,8 3 6 ,4 9 5

Year end.

----------------Year end. June 30-------------- M a y 3 1 .
1 9 0 5 -0 6 .
1 9 0 4 -0 5 .
1 9 0 3 -0 4 .
1 9 0 2 -0 3 .
Receipts—
$
$
$
$
N e t e a r n in g s ____________ 2 1 ,2 6 5 ,3 0 2
1 7 ,0 9 5 ,9 6 3
1 6 ,1 0 7 ,5 2 5 1 6 ,5 8 2 ,6 6 8
‘ O th er In c o m e ” _______
5 7 7 ,0 8 0
5 5 3 ,4 3 5
5 5 3 ,4 3 5
5 7 7 ,0 8 0
D iv . on “ O m a h a ” s t o c k .
1 ,0 2 9 ,0 0 0
9 8 2 ,4 0 0
9 3 5 ,8 0 0
9 3 5 ,8 0 0
T o t a l __________________ 2 2 ,8 7 1 ,3 8 2

1 8 ,6 3 1 ,7 9 8

1 7 ,5 9 6 ,7 6 0

1 8 ,0 9 5 ,5 4 8

Disbursements—

Interest o n d e b t ________
7 % d iv s . o n co m m o n __
8 % d lv s. on p re fe rr e d S in k in g f u n d ____________

7 ,8 4 5 ,3 2 9
4 ,6 9 2 ,3 1 3
1 ,7 9 1 ,6 0 0
2 2 5 ,5 0 0

7 ,9 8 8 ,9 7 6
3 ,3 8 3 ,3 2 4
1 ,7 9 1 ,6 0 0
2 2 5 ,0 0 0

7 ,9 7 1 ,5 1 8
3 ,3 8 3 ,3 2 4
1 ,7 9 1 ,6 0 0
2 2 5 ,5 0 0

7 ,4 7 5 ,9 7 0
3 ,0 6 0 ,4 1 4
1 ,7 9 1 ,6 0 0
2 2 5 ,0 0 0

Appropriated for real es­
tate, construct'n, &c_
M iscellaneous ___________

6 ,0 0 0 ,0 0 0
_ _ ______

4 ,6 0 0 ,0 0 0
________

4 ,0 0 0 ,0 0 0
________

5 ,0 1 3 ,4 1 8
5 ,31 6

1 7 ,3 7 1 ,9 4 2
2 2 4 ,8 1 8

1 7 ,5 7 1 ,7 1 8
5 2 3 ,8 3 0

Total disbursem ents. _ 2 0 ,5 5 4 ,7 4 2
Balance, surplus a ______ 2 ,3 1 6 ,6 4 0

1 7 ,9 8 8 ,9 0 0
6 4 2 ,8 9 8

a In a d d itio n th e re w e re n e t re e c ip ts fr o m la n d s in 1 90 5-06 o f $ 3 6 7 ,5 1 4 ;
In 1904-05 o f $ 2 9 5 ,4 4 2 ; in 1 90 3-04 o f $ 1 ,1 7 4 ,7 6 6 ; in 1 9 0 2 -0 3 , $ 7 2 2 ,9 0 8 .
General Balance Sheet.
June 30 ’ 0 6. June 30 ’ 0 5 . June 30 ’ 04. M a y 31 ’ 03.

Assets

Income Account.

$

P a s s e n g e r _______________ 1 4 ,4 4 1 ,4 1 5
F r e i g h t __________________ 4 5 ,8 0 2 ,8 5 3
3 ,2 3 7 ,3 1 0
M a ll, e x p re s s , &C______

[V O L . LX X X H L

$
$
$
$
R o a d an d e q u i p m e n t . . .2 2 7 ,7 5 4 ,2 9 6 2 2 4 ,4 4 3 ,2 7 2 2 2 3 ,3 6 1 ,9 5 6 ^ 2 2 0 ,3 7 6 ,1 9 6
B o n d s , s to ck s a n d a d ­
v a n c e s __________ (237,393,832
2 2 ,7 7 2 ,8 2 2
2 0 ,1 6 1 ,0 0 8 2 /19,949,488
A g e n ts & c o n d u c t o r s .__
2 ,5 1 0 ,3 0 8
2 ,4 8 0 ,7 0 5
1 ,8 3 9 ,3 0 9
2 ,2 0 5 ,8 7 2
U . S . G o v e r n m e n t______
4 2 6 ,4 5 2
3 9 8 ,3 0 5
4 3 0 ,8 3 5
283 838
Various p e r s o n s __
1 67 ,05 1
1 4 1 ,1 3 4
169,44,1
1 66,689
B ills r e c e iv a b le ___
1 8 8 ,1 8 4
2 6 8 ,2 3 3
4 8 2 ,2 9 6
1 8 2 ,3 5 7
Materia s, fu e l, 6cc.______ 3 ,7 3 3 ,4 1 2
3 ,8 2 0 ,9 5 7
3 ,7 6 3 ,3 8 9
3 ,6 7 8 ,9 2 0
C a sh jon h a n d _____ 1 6 ,8 3 5 ,9 1 9
6 ,6 0 2 ,0 2 3
7 ,3 8 2 ,1 1 5
8 ,4 1 1 ,1 0 2
S in k in g -fu n d s ____
8 ,9 8 0 ,8 4 0
8 ,5 3 0 ,9 4 2
8 ,0 9 0 ,5 5 0
7 ,6 4 7 ,7 1 4
T o t a l __________________2 9 7 ,9 9 0 ,2 9 4 2 6 9 ,4 5 8 ,3 9 3 2 6 5 ,6 8 0 ,8 9 8 2 6 2 ,9 0 2 ,1 7 5

Liabilities—
5 0 ,6 7 4 ,4 7 6
S t o c k , c o m m o n __________ 7 7 ,5 1 6 ,7 4 5
5 0 ,6 7 4 ,4 7 6 5 0 ,6 7 4 ,4 7 6
2 2 ,3 9 8 ,9 5 4
S t o c k , p r e f e r r e d _________ 2 2 ,3 9 8 ,9 5 4
2 2 ,3 9 8 ,9 5 4 2 2 ,3 9 8 ,9 2 5
B o n d e d d e b t ______________1 6 4 ,2 1 4 ,0 0 0 1 6 3 ,2 1 4 ,0 0 0 1 6 2 ,2 2 0 ,8 0 0 1 6 2 ,3 1 0 ,5 0 0
2 ,1 3 9 ,3 8 0
D iv id e n d s d e c la r e d ______ 3 ,0 7 7 ,2 4 4
2 ,1 3 9 ,5 6 2
2 ,1 3 9 ,5 6 2
S in k in g fu n d s p a id a n d
7 ,6 4 7 ,7 1 5
8 ,0 9 0 ,5 5 0
a ccr e tio n s t h e r e t o ____
8 ,9 8 0 ,8 4 0
8 ,5 3 0 ,9 4 2
C u rren t b ills , p a y -r o lls ,
3 ,3 7 1 ,4 8 5
& c ______________________ 3 ,6 4 4 ,7 9 8
3 9 9 4 ,0 2 0
4 7 7 7 ,5 2 7
Equipm ent renewal fund 1 ,1 4 8 ,6 8 1
U n c o l. c o u p o n s , & c ____
1 16 ,66 6
1 43 ,36 2
1 2 4 ,3 2 4
1 25 ,73 0
1 ,6 6 5 ,0 9 5
A c c r ’ d & a ccr u in g in t ’ s t .
1 ,9 5 4 ,3 8 8
2 ,0 1 1 ,0 2 6
2 ,0 1 3 ,0 0 0
D u e tr a n s ’ n & tel. c o s . .
6 19,441
7 3 0 ,4 2 1 }
3 8 ,0 0 0
6 3 0 ,76 7
M iscellaneous ___________
1 18 ,86 3
1 ,9 8 9 ,5 7 4
L a n d in c o m e a c c o u n t ___
242,851
3 ,0 1 9 ,6 8 8
3 ,215~573
9 ,9 0 1 ,0 9 8
1 1 ,6 4 0 ,1 8 1
R R . in c o m e a c c o u n t ___ 1 3 ,9 5 6 ,8 2 0
1 0 ,9 9 7 ,2 8 3
•Total

2 9 7 ,9 9 0 ,2 9 4 2 6 9 ,4 5 8 ,3 9 2 2 6 5 ,6 8 0 ,8 9 8 2 6 2 ,9 0 2 ,1 7 5

Balance Sheet June 30.
1 90 6.
A ssets—

$

Denver

Eio Grande Eaiiroad.
30 1906.)
The annual report has been issued in pamphlet form for
the year ending June 30 1906. The remarks of President E.
T. Jeffery will be found in full, together with valuable tables,
on pages 568 and 571 of this issue.
The comparative statistics below have been compiled for
the “ Chronicle” :
&

(R ep o rt fo r F i s c a l Y e a r en d in g J u n e

Operations, Earnings, &c.
A v e r a g e m iles o p e r a t e d .
Equipment—
L o c o . (st. & n ar. ga u ge)
a F r ’ t cars (sta n . ga u ge) _
a F r ’ t cars (nar. ga u ge) _ _
P a ss, cars (sta n . ga u ge) _
P a ss, cars (nar. g a u g e) _

1 9 0 5 -0 6 .
2 ,4 7 7

1 90 4-05 .
2,42 0

1 90 3-04 .
2 ,39 8

1 9 0 2 -0 3 .
2 .37 8

486
10,287
3 ,70 8
226
127

475
1 0,005
3,85 3
.2 2 6
127

473
10,077
3 ,97 9
222
129

484
9 ,6 8 2
4 ,1 2 3
210
130

a In clu d e s m a in te n a n c e o f w a y e q u ip m e n t.

$

T o t a l _________________________________ 1 7 1 ,1 8 7 ,1 6 1

t'bos

C ap ital s t o c k , c o m m o n ________________ 3 8 ,0 0 0 ,0 0 0
C ap ital s to c k , p r e fe r r e d _______________ 4 5 ,7 1 2 ,7 0 0
B o n d s (see “ R y . & I n d .” S e ctio n )
. 7 8 ,2 2 1 ,1 0 0
B ills p a y a b l e __________________________
5 ,0 0 0
R e n e w a l f u n d __________________________
3 3 4 ,9 3 8
V o u c h e r s _______________________________
6 03 ,14 1
P a y - r o l l s _______________________________
8 0 3 ,0 7 4
In te re st o n b o n d s ______________________
1 ,3 4 2 ,8 1 6
E q u ip m e n t re n e w a l f u n d _____________
2 4 9 ,0 8 6
S p ecia l e q u ip m e n t f u n d _______________
1 ,0 0 0 ,0 0 0
In su ra n ce , & c . , fu n d s __________________
9 6,4 15
A c c r u e d t a x e s __________________________
3 0 2 ,6 4 8
M is c e lla n e o u s __________________________
6 3,1 42
D i v i d e n d s ______________________________
1 ,1 4 5 ,1 0 8
B a la n ce to p ro fit a n d lo s s ______________
3 ,3 0 7 ,9 9 2
T o t a l _____________ ___________________ 1 7 1 ,1 8 7 ,1 6 1
— V . 8 1 , p . 1 72 3.

1 6 9 ,6 1 7 ,0 5 2 1 6 7 ,7 8 5 ,8 2 4
3 8 ,0 0 0 ,0 0 0
4 5 ,6 0 0 ,0 0 0
7 7 ,9 7 1 ,1 0 0
1 29 ,20 0
3 3 5 ,4 5 2
4 7 7 ,1 0 6
6 9 7 ,6 5 2
1 ,3 3 4 ,9 2 9
2 2 0 ,8 9 2
________
1 29 ,63 4
3 06,881
4 9 ,1 9 7
1 ,1 4 1 ,6 6 3
3 ,2 2 3 ,3 4 7

3 8 ,0 0 0 ,0 0 0
4 4 ,4 0 0 ,0 0 0
7 7 ,9 6 1 ,1 0 0
___
3 3 3 ,6 0 4
4 1 9 ,0 6 3
5 93 ,60 1
1 ,3 2 0 ,2 6 1
1 2 0 ,9 4 4
_________
1 28 ,58 9
2 5 9 ,4 8 4
4 8 ,0 5 6
1 ,1 1 0 ,9 6 3
3 ,0 9 0 ,1 6 0

1 6 9 ,6 1 7 ,0 5 2 1 6 7 ,7 8 5 ,8 2 4

Atlantic Coast Line Co. of Connecticut
(B a la n c e S h eet o f J u n e 30 1906.)
This company owns (as of Sept. 10 1906—see details be­
low) a majority of the capital stock of the Atlantic Coast
Line RR. Co., namely, $24,257,000 of its $48,537,600
common stock and $1,009,300 of its $1,596,600 preferred
stock; also sundry other securities as shown below. It will
be noted that the company now has a profit and loss surplus
of $17,575,802.
We have been favored with the balance sheet of June 30
1906, which we compare with that of June 30 1905 and that
of June 30 1904, as fohow’s:
Balance Sheet.
June 30 ’ 06. June 30 ’ 05. June 30 ’ 04.

Assets—
$
S ecu rities d e p o s ite d w ith S a fe D e p o s it
6c T r u st C o. o f B a ltim o r e ___________ a l l , 5 00 ,00 0
R a ilr o a d b o n d s .
.
_
£ 528,709
O th er b o n d s
c l ,5 31 ,0 00
d24 ,1 9 4 ,1 5 6
R a ilr o a d s t o c k s . _
O th er s to ck s _ _
_ _
_
el ,2 89 ,9 24
/ 2 , 2 41 ,87 2
O th er assets
_
_ .
Bills r e c e iv a b le
_
. _
1 ,1 5 6 ,5 5 8
R e a l esta te a n d b ld g ., W a s h ., D . C__
7 5,0 00
Land
457
In v e s tm e n t ren ew a l rail fu n d
2 68,381
D e p o sits fo r in terest a n d d iv i d e n d s ._
1 6 2 ,45S
Cash
59,351
D iv id e n d s a ccr u e d
6 58 ,84 5
T o t a l.

4 3 ,6 6 6 ,7 1 1

$

S

1 1 ,5 0 0 ,0 0 0
7 8 9 ,3 9 9

1 1 ,5 0 0 ,0 0 0
8 3 9 ,9 4 6

2 3 ,1 4 7 ,4 9 7
2 03 ,10 6
6 ,0 3 4 ,8 2 4
2 9.000
7 5.000
457
2 5 8 ,6 0 3

1 6 ,0 7 9 ,2 2 1
2 03 ,10 6
6 ,0 4 5 ,5 7 2
2 9,0 00
1 35 ,00 0
457
2 3 9 ,9 7 3

7 8,961
5 4 9 ,03S

1 1 8 ,3 0 4
4 5 7 ,6 2 2

4 2 ,6 6 5 ,8 8 4

3 5 ,6 4 8 ,2 0 1

Liabilities—
C ap ital s to c k _
1 0 ,5 0 0 ,0 0 0
1 0 ,5 0 0 ,0 0 0
1 0 ,5 0 0 ,0 0 0
A m o u n t p a id on s u b scrip tio n s t o $ 2,1 00,000 n e w s to c k , b a l. d ue S ep t. 10
1 ,0 7 2 ,9 5 0
C ertificates o f in d e b te d n e s s , 5 % ____
5 .0 0 0 . 000 5 .0 0 0 . 000 5 .0 0 0 . 000
C ertificates o f in d e b te d n e ss, 4 % ____
5 .0 0 0 . 000 5 .0 0 0 . 000 5 .0 0 0 . 000
D e b e n tu re c e r t, o f In d e b t., 4 % __ _ 3 .0 0 0 . 000 3 .0 0 0 . 000
5 ,6 6 4 ,3 9 2
1 ,5 8 8 ,6 4 4
D u e on op en a cco u n ts
1 ,0 7 5 ,0 0 0
D e p o sits ren ew a l rail fu n d
280,501
2 59 ,06 3
2 69 ,71 3
D iv . on s to c k 6c in t. on c t fs . u n p a id . _
1 62 ,45 8
9 ,2 2 4 ,7 4 6
1 7 ,3 0 7 ,5 2 7
P r o fit a n d loss s u r p l u s . ____
1 7 ,5 7 5 ,8 0 2
T o t a l..

. . .

4 3 ,6 6 6 ,7 1 1

4 2 ,6 6 5 ,SS4

3 5 ,6 4 8 ,2 0 1

Securities Owned June 30 1906.
a Securities Deposited.— W it h S a fe D e p o s it & T r u st C o. o f B a ltim o re ,

Operations—
R e v . p ass, c a r r ie d ._N o .
1 ,8 3 6 ,7 7 6
1 ,5 0 4 ,3 2 9
1 ,4 7 4 ,1 9 9
1 ,4 1 2 ,9 6 7
R e v . p ass, ca rrie d 1 m ile 2 5 4 ,5 9 9 ,3 6 3 2 1 1 ,1 1 6 ,5 7 8 2 0 5 ,1 6 1 ,2 0 0 1 9 5 ,868 ,3 0 2
R a t e p e r p ass, p er m ile .
1.81 cts.
1.91 c ts .
1 .93 cts .
1 .95 cts.
R e v . f r ’t ca rried ( t o n s ) .
8 ,5 3 9 ,4 7 1 7 ,1 6 6 ,8 3 8
5 ,9 6 0 ,9 9 2
6 ,766 ,6 7 5
R e v . f r ’t ca r. 1 m . (ton s) 1 0 7 8 3 47 ,9 46 8 9 2 ,1 4 1 ,0 9 0 8 5 3 .2 9 2 ,6 0 3 9 9 0 ,2 5 5 ,2 6 9
R a t e p e r to n p er m i l e . . _
1.29 cts .
1 .3 4 cts.
1.34 cts .
1 .2 4 cts.
A v . r e v . tr. lo a d (ton s) _
220
206
208
206
E a rn s, p e r f r ’t tr . m i l e . .
$2 85
S2 76
$2 78
$2 55
E a rn s, p e r p ass. tr. m ile
$1 18
$1 08
$1 11
$ l 06
E a rn s, p er m ile o f r o a d .
$ 7 ,9 4 8
$ 7 ,0 3 8
$ 6 ,8 5 8
$ 7 ,2 7 7

Earnings from—
$
F r e ig h t ----------------------------- 1 3 ,9 4 3 ,5 5 6
P a sse n g e rs ----------------------4 ,6 0 9 ,4 2 8
M is c e lla n e o u s ___________
1 ,1 3 3 ,1 3 0

$
1 1 ,9 3 2 ,4 2 0
4 ,0 3 9 ,4 1 8
1 ,0 5 9 ,6 6 9

$
1 1 ,3 9 8 ,1 0 4
3 ,9 5 9 ,2 5 2
1 ,0 8 9 ,0 7 8

$
1 2 ,2 8 1 ,4 9 2
3 ,8 2 7 ,9 2 4
1 ,1 9 5 ,1 4 3

T o t a l e a rn in g s------------- 1 9 ,6 8 6 ,1 1 4

1 7 ,0 3 1 ,5 0 7

1 6 ,4 4 6 ,4 3 4

1 7 ,3 0 4 ,5 5 9

1 ,9 7 9 ,6 1 6
4 3 5 ,7 3 7
2 ,5 6 6 ,4 1 1
6 ,6 2 1 ,9 8 6
--------------5 0 0 ,4 2 3

1 ,6 2 9 ,1 7 2
3 6 9 ,3 2 2
2 ,0 3 1 ,5 2 3
5 ,6 3 2 ,6 0 6
--------------5 0 6 ,3 3 8

1 ,7 9 2 ,0 6 0
3 8 2 ,7 6 7
1 ,9 1 9 ,5 1 9
5 ,4 6 9 ,1 4 6
4 1 ,3 6 6
4 5 3 ,5S6

1 ,8 9 7 ,2 5 3
3 96 ,21 1
1 ,9 4 2 ,9 1 4
5 ,7 7 0 .0 1 8
1 5 7 ,8 4 9
4 6 5 ,6 0 4

■ T o t a l-------------------_v___ 1 2 ,1 0 4 ,1 7 3
P . c. o f e x p s . t o e a rn s ___
(6 1 .4 9 )
N e t e a r n i n g s _______ _____
7 ,5 8 1 ,9 4 2

1 0 ,1 6 8 ,9 6 1
(5 9 .7 1 )
6 ,8 6 2 ,5 4 6

Expenses for—
M a in ten a n ce o f w a y ____
M a in t. o f s tr u c tu r e s ____
M a in t. o f e q u ip m e n t___
C o n d u c t ’g t r a n s p o r t a t ’n
E x p re ss e x p e n s e s ----------G en era l e x p e n s e s _______

1904.

$

C ost o f ro a d a n d s tr u c tu re s ____________ 1 1 7 ,2 0 7 ,9 3 9 1 1 5 ,6 2 5 ,8 3 2 1 1 5 ,2 2 0 ,2 1 3
R io G ra n d e W e s te r n s t o c k _____________ 2 0 ,7 5 0 ,0 0 0
2 0 ,7 5 0 ,0 0 0 2 0 ,7 5 0 ,0 0 0
E q u i p m e n t ____ _________
1 1 ,2 8 4 ,6 4 9
1 1 ,4 3 4 ,6 4 9 1 1 ,6 0 4 ,9 7 0
M aterials a n d s u p p lie s _____________ . .
1 ,2 4 5 ,9 0 8
1 ,0 7 1 ,3 7 5
1 ,0 9 2 ,0 2 4
T r a ffic b a la n c e s _________________________
2 3 1 ,7 2 2
151,458
3,910
U . S. G o v e r n m e n t_____________________
6 9 ,8 2 5
8 8 ,7 3 0
1 0 5 ,2 8 6
A g e n ts a n d c o n d u c t o r s _________________
3 27 ,72 5
2 1 7 ,7 8 7
2 43 ,13 6
In d iv id u a ls a n d c o m p a n ie s ___________
1 ,2 3 8 ,9 8 3
1 ,1 7 5 ,8 9 0
1 ,1 5 1 ,9 5 5
B o n d s In th e tr e a s u r y ____ _____________
2 ,5 0 0 ,9 6 7
2 ,1 2 6 ,9 6 6
1 ,8 2 6 ,9 6 7
G en eral in v e s tm e n ts ___________________
2 ,3 7 3 ,5 2 0
1 ,4 6 3 ,4 5 8
1 ,4 6 3 ,4 5 7
S ecu rities in T r u st C o _____________
9 ,7 0 8 ,0 6 4
9 ,7 6 8 ,0 6 4
9 ,5 6 8 ,0 6 4
L oa n s a n d b ills r e c e iv a b le _____________
1 ,3 9 6 ,6 5 0
2 ,2 7 3 ,4 0 0
2 ,1 5 5 ,0 0 0
S p ecia l re n e w a l f u n d ___________________
3 34 ,93 8
3 35 ,45 2
3 3 3 ,6 0 4
M iscella n eou s a c c o u n t s _______________
5 1 ,7 0 2
5 1,0 16
1 15,980
C a s h _____________________________________
2 ,4 0 4 ,5 7 0
3 ,0 8 2 ,9 7 5
2 ,1 5 1 ,2 5 5

d C on sists o f C. & N . IV . R y . d e b . o f 1 9 0 9 , $ 1 0 ,0 0 0 ; M . L . S. & W . R y .
e x t . a n d im p t. b o n d s , $ 4 0 ,0 0 0 ; S o . I o w a R y . 1st M . b o n d s , $ 4 3 1 ,0 0 0 ;
C. N . & W . R y . 3 J ^ % g en era l M . b o n d s o f 1 98 7, $ 1 0 ,2 0 1 ,0 0 0 ; s u n d r y
b o n d s fu n d a b le fo r C . & N . W . 3 M s , $ 1 3 1 ,0 0 0 ; s to c k C h ic. S t. P a u l M in n .
& O m .. R y . , $ 1 0 ,0 0 0 ,0 0 0 : U n io n P a c ific p re fe rre d s to c k , $ 3 ,8 4 0 ,0 0 0 ;
c o m m o n s to c k a n d s crip C . & N . W . R y . C o ., $ 2 ,3 3 4 ,0 0 3 : p re fe rr e d
s to c k an d scrip C .N . & W . R y . C o ., $ 3 ,8 3 5 : a d v a n ce s a n d secu ri tie s s u n d r y
p r o p r ie ta r y c o m p a n ie s , $ 1 0 ,4 0 2 ,9 9 4 .— V . 8 3 , p . 379.

1 905.

1 0 ,0 5 8 ,4 4 3
(6 1 .16 )
6 ,3 8 7 ,9 9 1

1 0 ,6 2 9 ,8 5 0
(6 1 .42 )
6 ,6 7 4 ,7 0 9

as s e c u r ity fo r $ 1 0 ,0 0 0 ,0 0 0 certifica tes o f in d e b te d n e ss o f 189 7-19 00 :
A tla n tic C oast L in e R R . C o. 1st c o n . 4% b o n d s
a t p a r ------------------------------------------------------------------------- $ 1 ,1 5 0 ,0 0 0
A tla n tic C oast L in e R R . C o . o f S . C ., 4 % b o n d s
at p a r ________________________________________________ 1 ,5 5 0 ,0 0 0
A tla n tic C oast L in e R R . C o. 4% c e r tif. at p a r ____ S ,8 0 0 ,0 0 0 S l l,5 0 0 ,0 0 0
b Railroad Bonds—
Par.
S o u th C a rolin a P a cific R y . C o. 1st 6 % _
$ 81 ,60 0
$65,751
C ol. N e w . & L a u r. R R . C o. 1st 3 % _ _ _ _
3 18,000
2 01 ,95 8
$ 52 8,7 0 9
N o rth W e ste rn R R . C o. o f S. C . 4 % _ _
2S 5,000
2 61,000
c Other Bonds—
D u tto n P h o sp h a te C o. at p a r ___________
$ 69 8 ,0 0 0
$ 1 ,5 3 1 ,0 0 0
O th er p h o s p h a te co m p a n ie s at p a r ______
8 33 .00 0
d Railroad Stocks—
W ils o n 6c S u m m e r to n R R . C o __________
S 50.000
$ 50 ,00 0
A tla n tic C oast L in e R R . C o. 5 % p r e f _ . 1 ,0 0 9 ,3 0 0
1 ,0 0 9 ,3 0 0
do
do
class “ A ”
2 7.100
2 7.100
do
do
c o m m o n .2 1 ,9 3 4 ,4 0 0 2 1 ,9 3 4 ,4 0 0
do
do
J--2 p a id receip ts fo r n e w stk _ 1 ,1 4 7 ,7 5 0
1 ,1 4 7 ,7 5 0
N a sh v ille C h a tta n o o g a & S t. L o u is R y _
3 0,000
2 5,6 06 $ 2 4 ,1 9 4 ,1 5 6
e Other Stocks—
O ld D o m in io n S tea m sh ip C o ____________
$ 120,000
S 1 5 0 ,000
1 ,1 1 9 ,9 2 4
S u n d r y o th e r s to c k s ____________________ N o t s ta te d
20,000 $ 1 ,2 8 9 ,9 2 4
W e stin g h o u s e A ir B ra k e C o ____________
2 0.000
f Other Assets—
A tla n tic C oast L in e R R . C o. 4 % ce rtifica te s at p a r . 1 ,9 0 5 ,1 0 0
C h a rleston 6c W e ste r n C arolin a R y . s e cu ritie s ______
150.000
185,500
S u n d ry b o n d s a n d s t o c k s ______________________________
$ 2 ,2 4 1 ,8 7 2
1,272
C ol. N e w b . 6c L a u ren s 5 % c e r tific a te s _____________
— V . S I , p . 725 .

Brooklyn Rapid Transit Company.
30 1906.)
The following is a brief comparative statement for the past
four years. The report will be given at length next week.
(S t a t e m e n t f o r F i s c a l Y e a r E n d i n g J u n e

1 9 0 5 -0 6 .
1 9 0 3 -0 4 .
1 9 0 4 -0 5 .
1 90 2-03 .
G ross e a rn in g s----------------- $ 1 8 ,79 7 .263 $ 1 6 ,5 8 5 ,5 7 9 $ 1 4 ,9 5 0 561 $ 1 3 ,5 5 7 ,8 1 4
9 ,8 0 3 ,8 7 0
8 .7 6 0 ,4 3 9
7 ,9 3 1 ,0 7 9
O p e ra tin g ex p e n se s------- 1 0 .1 4 i ,377
$8 ,*>0 ,886
5,612 ,934

$ 6 ,7 8 1 ,7 0 9
5 ,1 7 8 ,4 9 1

$ 6 ,1 9 0 ,1 2 2
4 ,8 0 1 ,2 1 5

$ 5 ,6 2 6 ,3 35
4 ,6 6 1 ,8 5 7

$ 2 ,7 4 2 ,,952

$ 1 ,6 0 3 ,2 1 8

$ 1 ,38S ,907

$ 96 1,878

580 ,343

4 5 3 ,2 8 5

3 8 3 ,7 0 6

2 08 ,48 1

$ 2,1 62 ,609

$ 1 ,1 4 9 ,9 3 3

$ 1 ,0 0 5 ,2 0 1

$756 397

N et e a rn in g s .................
F ix e d ch arges & t a x e s . .
B a la n ce fo r d iv id e n d s ,
b e cte r m ’ ts & a d d itio n s
B a la n ce , su rp lu s ..........

The total profit and loss surplus June 30 1905 was $984,723. making, with the balance for the late year, $2,162,609
as above, an aggregate of $3,147,332, from which were
deducted extra appropriations amounting to $1,071,770,
viz., discount on bonds sold, $571,247; contingent reserve
fund, $500,000; old accounts written off, $523; leaving a
profit and loss surplus as of June 30 1906 of $2,075,562.—
V. S3, p. 434, 379.

Y e a r E n d in g J u n e

T h e su rplu s p ro fits fo r th e y e a r , a fte r charging: r e p la c e m e n ts, ren ew als
a n d rep a irs, b a d a n d d o u b tfu l d e b ts , in terest a n d sinking- fu n d a p p r o p r ia ­
tio n . a m o u n te d t o $ 2 4 4 ,3 8 8 . T h e b o n d s in th e h an d s o f th e p u b lic on
J u n e 30 1906 h a v e b e e n d e cre a se d b y $ 2 1 0 ,0 0 0 ; lo a n s h a v e in cre a se d $ 6 3 1 ,4 5 7 , a n d th e a m o u n t o w e d fo r fo re ig n e x c h a n g e , tr a d e a c c o u n t s , w a g es, & c .,
sh ow s a d ecrea se o f $63 ,S 98
C ost o f p r o p e r t y has in cre a se d $ 2 4 ,7 5 4 , as
fo llo w s : A d d itio n s , im p r o v e m e n ts a n d b e tte r m e n ts , $ 5 5 ,7 5 4 ; less p ro ce e d s
o f sales o f p r o p e r t y , $ 3 1 ,0 0 0 .
In c lu d in g cash a n d a ccr u e d in te re s t, th e s in k in g fu n d in v e stm e n ts
a m o u n t e d , o n J u n e 30 1 90 6, t o $ 1 ,1 2 2 ,1 5 5 , as c o m p a r e d w ith $ 9 0 8,2 8 7 on
Jun e 30 1905 b e in g an in crea se o f $ 2 1 3 ,8 0 8 , o f w h ic h a m o u n t $15 0,0 0 0
(less th e d ifferen ce b e tw e e n p ar a n d co s t v a lu es) has b e e n ch a rg e d again st
th e y e a r's p ro fits , th e b a la n ce b e in g a c c r e tio n s to th e fu n d .
I n v ie w o f th e
ch a rg e a gain st th e p rofits,1 th e ch a rte r e d a c c o u n ta n ts d e e m s p e cific p r o ­
v isio n fo r d e p re cia tio n u n n e ce ssa ry .
T h e b o n d s in th e s in k in g fu n d
a m o u n te d on Jun e 30 1906 to $ 1 ,1 0 0 ,0 0 0 , as c o m p a r e d w ith $ 8 9 0,0 0 0 on
J u n e 30 1905, an in crea se o f $ 2 1 0 ,0 0 0 , a c q u ir e d at a c o s t o f $ 20 5,7 5 0 in
ca sh .
T h is in crea se in b o n d s is m a d e u p o f th e re g u la r a n n u a l a p p r o p r ia ­
tio n o f $ 15 0,0 0 0 b o n d s a n d o f $ 6 0 ,0 0 0 b o n d s a c q u ir e d fo r th e sin k in g fu n d
fro m th e interest a c cu m u la tio n s .
T h e in v e n to r y o f hides a n d sk in s, le a th e r on h a n d a n d in p ro ce ss o f m a n u ­
fa c tu r e . a n d gen eral s u p p lie s , a m o u n te d on J u n e 30 1906 t o $ 7 ,2 5 4 ,0 6 0 , as
a gain st $ 6 ,5 6 6 ,6 2 7 o n Ju n e 30 1905, a n in crea se o f $ 6 8 7 ,4 3 3 .
Bills a n d
a cco u n ts re c e iv a b le in crea sed $ 7 2 ,6 9 3 .
B a d d e b ts h a v e b e e n w r itte n o ff
d u rin g th e y e a r t o th e e x te n t o f $ 2 1 ,8 4 3 .
T h e re se rv e fo r d o u b tfu l d e b ts
a n d d is co u n ts a m o u n te d on J u n e 30 1906 t o $ 1 5 5 ,2 5 0 .
Cash o n h an d
J u n e 30 1906, $ 2 8 4 ,5 9 1 , sh ow s a d ecrea se o f $ 1 0 3 ,5 2 1 .
T h e to ta l cu rren t assets on J u n e 30 1906 a m o u n t e d t o $ 9 ,7 1 6 ,7 5 0 ;
cu rren t lia b ilities w ere $ 1 ,9 6 3 ,0 3 1 ; net cu rre n t a ssets $ 7,7 53 719. A s
th ere are o u ts ta n d in g in th e h an d s o f th e p u b lic $ 7 ,4 2 5 ,0 0 0 b o n d s , it w ill
be seen th a t th e net cu rren t assets m o re th an e q u a l th e fa c e a m o u n t o f th e
b o n d s , le a v in g th e en tire p la n t a n d g o o d -w ill s ta n d in g a g a in st th e ca p ita l
s to c k .

Income Account of Company and Its Subsidiaries.
1 90 5-06 .
T r a d in g p rofits
$ 1 ,1 7 8 ,4 8 7
P rofit o n b o n d s p u r ch a se d fo r sin k i n g fu n d , & c
3 ,29 7

1 9 0 4 -0 5 .
$ 1 ,3 7 4 ,4 3 2

1903-04.
$ 1 ,1 6 9 ,3 2 5

3 1,7 55

3 5,2 76

$ 1 ,4 0 6 ,1 8 7

$ 1 ,2 0 4 ,6 0 1

R e p la c e m e n ts , re n e w a ls a n d r e p a ir s _
$ 1 6 7 ,5 0 5
$19 0,2 9 1
B a d d eb ts a n d reserv e fo r d o u b tfu l
d e b t s ____ . . . ______ . _________
2 1,843
18,691
In terest o n b o n d s
______
5 11 ,50 0
5 11 ,50 0
A ll o th er In terest_______
__________
8 6 ,5 4 7
2 9,7 98
S in k in g fu n d a p p ro p ria tio n s
1 50 ,00 0
1 5 0 ,0 0 0
D iv id e n d s o n p refe rre d s to c k ______ x(l %) 1 2 5 ,48 3 (2 %) 2 5 0 ,9 6 6

$ 19 6,8 6 5

T o ta l
_________ _
____________
B a la n c e , su rp lu s fo r y ea r

$ 9 1 3,3 3 0
$29 1,2 7 2

_

_

. . .

Deduct—

$ 1 ,1 8 1 ,7 8 4

$ 1 ,0 6 2 ,8 7 9
$ 1 1 8 ,9 0 5

$ 1 ,1 5 1 ,2 4 5
$ 2 5 4 ,9 4 2

2 6,784
5 1 1 ,50 0
2 8,1 80
1 50,000

x In clu d es $ 13 0 ,0 0 0 p a id A u g . 15 1905 o n $ 1 3 ,0 0 0 ,0 0 0 p re fe rr e d s to c k
less $ 4,517 re c e iv e d on p re fe rre d s to c k h e ld in tru st

Balance Sheet of Company and Subsidiary Companies June 30.
1906.
1905.
$
$
C ost o f p r o p ’ s&26,4 8 3 ,2 8 2 2 6 ,4 5 8 .5 2 8
S in k in g f u n d . 1 ,1 2 2 ,1 5 5
9 08 ,28 7
S u p p l ie s _____ 7 ,2 5 4 ,0 6 0
6 ,5 6 6 ,6 2 7
Bills <5c a c c t s .
receiv a b le^ _ c2 ,0 9 9 .8 5 7 c 2 ,0 18 ,8 78

A ssets____

Sundries ,

cla im s . & c .
In su ra n ce une x p i r e d ___
C a s h _________
In v e stm e n ts. _

1 6,7 85
6 1,4 57
2 84,591
_______

14,224
67,199
3 88 ,11 2
_______

T o t a l ---------- 3 7 ,3 2 2 ,1 8 8 3 6 ,4 2 1 ,8 5 5 i

1905.
1906.
$
$
P r e f. shares ..1 3 ,0 0 0 ,0 0 0 1 3 ,0 0 0 ,0 0 0
1
1
,5
0
0 ,0 0 0
C o m . s h a r e s .. 1 1 ,5 0 0 ,0 0 0
8 ,5 2 5 ,0 0 0
1st M .6 % b d s .a 8 .5 2 5 ,0 0 0
170,500
In t. a c c r u e d ..
1 7 0 ,50 0
L o a n s a n d b ills
7 5 0 ,0 0 0
p a y a b l e ___ 1 ,3 8 1 ,4 5 7
2 0 2 ,1 5 3
F o re ig n e x c h .
1 23 ,37 4
2 05 ,97 3
T rade a c c t s ._
2 22 ,97 2
6 6 .8 4 4
W a g e s, & c ___
6 4 ,7 2 7
7 0 2 ,4 9 6
S in k . f. 1st M _
9 0 8 ,2 8 7
205,791
M is ce lla n e o u s .
2 13 ,86 8
1 ,0 9 3 ,0 9 7
S u rp lu s_______ 1 ,2 1 2 ,0 0 2

Liabilities—

T o t a l _______ 3 7 ,3 2 2 ,1 8 8

3 6 ,4 2 1 ,8 5 5

a Of th is. $ 7 ,4 2 5 ,0 0 0 “ h e ld b y p u b lic ’ ’ a n d $ 1 ,1 0 0 ,0 0 0 In sin k in g fu n d .
T h ere are a lso $ 4 7 5,0 0 0 b o n d s In tre a s u ry .
O f th e $ 7 ,6 3 5 ,0 0 0 “ b o n d s held
b y p u b l i c '’ $ 210,0 0 0 w ere p u rch a sed b y th e c o m p a n y d u r in g th e yea r
1 905-06 at a co st o f $ 2 0 5 ,7 5 0 a n d are ca rrie d a m o n g th e assets u n der
“ In v e s tm e n ts .”
b In c lu d in g 4 ,5 1 7 shares p re fe rre d a n a 2 ,2 5 9 shares c o m ­
m o n s to c k of th e A m e rica n H id e 6c L e a th e r C o . h e ld in tr u st,
c A ft e r d e ­
d u c t in g reserve o f $ 1 5 5 ,2 5 0 fo r d o u b tfu l d e b ts in 1905 a n d $16 5,9 9 1 In 1904
— V . 8 2 , p . 1214.

Consolidated Lithograph Company.
( B a l a n c e S h e e t D e c . 31 1905.)
The combined profits of the controlled properties for the
year 1905 are reported as $340,759.
Balance Sheet Dec. 31 1905.
Assets—

$

Cash
-------------------------------3 ,6 0 9
O ffice f u r n it u r e ........ ..............
l ,218
L n lted L lth . C o. c o m .s to c k 2 ,0 1 3 ,8 9 5
M e tro p o l'n P tg .C o .p r e f.s tk . 6 0 9 ,00 0
M e t r o p o l'n P t g .C o .c o m .s tk . 1,384 .721
C ou rier C o. co m m o n s t o c k . 5 6 3 ,7 3 5
D o n a ld s o n L it h .C o .c o m .stk . 8 6 2 .2 8 2
E rie L lt h .& P t g .C o .c o m .s tk . 9 5 1 ,6 3 8
U a l k e r L . 6cP t g .C o .c o m .stk . 177.961
C ou rier C o . b o n d .................... 5 0 0 ,00 0
3 08,938
L o a n t o su b sid ia ry c o s ____
O rg a n iza tio n e x p e n s e ..........
5 8 ,4 0 3
T o ta l

.....................................7 ,4 3 5 ,4 0 0

Liabilities —

$

A c c o u n t s p a y a b l e ..................
D u e su b sid ia ry c o m p a n ie s .
2,734
R e se rv e f o r e x p e n s e s ____
560
Bills p a y a b l e _______________ 1 ,000,000
B o n d s ________________ _ . .2 .0 4 6 .0 0 0
B on d reserv e
_____
..
6 8 9 ,0 0 0
C ap ital s to c k ........................... 3 ,6 9 6 ,0 0 0
P r o fit a n d l o s s ____
-1.094

T ota l

Results of Operation.

O rd in a ry repairs a n d b e tte r m e n ts -----In te r e st, ta x e s a n d g en eral e x p e n s e s .

Earnings........................ ....... ...........

1905-06.
$
1 1 ,6 6 5 ,8 8 5
8 28 ,58 2
6 75 ,94 5

190 4-05 .
$
1 0 ,5 0 6 ,6 8 3
8 78 ,64 8
7 2 9 ,2 2 4

190 3-04 .
$
9 ,4 2 5 ,4 4 3
8 18 ,14 1
7 0 1 ,7 2 9

T o ta l d e d u c t io n s --------------- --------- .
N et ea rn in g s —
--------------------------------L ess; E m p lo y e e s ’ p ro fit-sh a rin g fu n d

1 ,5 0 4 ,5 2 7
1 0 ,1 6 1 ,3 5 8
4 4 9 ,2 0 4

1 ,6 0 7 ,8 7 2
8 ,8 9 8 .8 1 1
2 16 ,81 5

1 ,5 1 9 ,8 7 0
7 ,9 0 5 ,5 7 3
9 1 ,2 5 4

T o t a l ________ __
- - ------—
N ew c o n s tr u c tio n , Im p ro v e m e n ts a n d
m eta l s to c k a c c o u n t ________________

9 ,7 1 2 ,1 5 4

8 ,6 8 1 ,9 9 6

7 ,8 1 4 ,3 1 9

a 9 3 8 ,099

1 ,0 6 3 ,0 8 4

1 ,0 0 7 ,5 8 2

N e t In c o m e ____ ______ _________________
8 ,7 7 4 ,0 5 5
7 ,6 1 8 ,9 1 2
6 ,7 1 6 ,7 3 7
3 ,5 0 0 ,0 0 0
3 ,5 0 0 ,0 0 0
3 ,5 0 0 ,0 0 0
D iv id e n d on p re fe rre d s t o c k _________
D iv id e n d on c o m m o n s t o c k _______ (6 3 ^ )3 .2 5 0 ,0 0 0 ( 5 )2 ,5 0 0 ,0 0 0 (2 H ) 1250000
T o ta l d iv id e n d s ______________________
S u rp lus fo r y e a r . . .
. . .
S u rp lus p re v io u s y e a r .................... ............

6 ,7 5 0 ,0 0 0
2 ,0 2 4 ,0 5 5
8 ,4 5 8 ,7 2 0

6 ,0 0 0 ,0 0 0
1 ,6 1 8 ,9 1 2
6 ,8 3 9 ,8 0 8

4 ,7 5 0 ,0 0 0
1 ,9 6 6 ,7 3 7
4 ,8 7 3 ,0 7 1

1 0 ,4 8 2 ,7 7 5

8 ,4 5 8 ,7 2 0

6 ,8 3 9 ,8 0 8

a D oes n o t In clu d e a n y a p p r o p r ia tio n t o m eta l s to c k a c c o u n t ,
Assets and Liabilities April 30.

30 1906.)
President Thomas W . Hall says in substance:
(R e p o r t f o r F i s c a l

American Smelting & Refining Co.
( R e p o r t f o r F i s c a l Y e a r E n d e d A p r i l 30 1906.)
The text of the report will be given another week.
The comparative tables of earnings, income account and
balance sheet for three years arc given below.

T o ta l surplus

American Hide & Leather Company.

T o ta l

561

THE CHRONICLEj .

S e p t . 8 1906.]

...................................... 7 ,4 3 5 ,4 0 0

See item in V. 83, p. 495, and compare V. 80, p. 2222.

Assets—
P r o p e r t y _______________________________
I n v e s t m e n t s ___________________________
M etal s t o c k s ____________________________
M a t e r ia l________________________________
C a s h ____________________________________

1 906.
$
8 6 ,8 4 5 ,6 7 1
a4, 1 79,915
1 9 ,4 1 5 ,2 0 0
1 ,1 1 4 ,8 9 3
4 ,7 5 7 ,9 2 8

1 90 5.
$
8 6 ,8 4 5 ,6 7 0
a3 ,9 8 2 ,5 7 6
1 6 ,4 1 8 ,5 4 3
1 ,1 1 8 .9 0 2
4 ,6 3 6 ,6 4 9

j

i:

1904.
$
8 6 ,8 4 5 ,6 7 1
1 ,6 8 0 ,3 0 6
1 7 ,0 3 2 ,3 0 0
1 ,2 2 4 ,6 8 8
4 ,0 4 7 .4 2 3

T o t a l __________________________________1 1 6 ,3 1 3 ,6 0 7 1 1 3 ,0 0 2 ,3 4 0 1 1 0 ,8 3 0 ,3 8 7

Liabilities__

C o m m o n s t o c k __________________________ 5 0 ,0 0 0 ,0 0 0
P referred s t o c k ________________________ 5 0 ,0 0 0 ,0 0 0
B on d s __________________________________
5 4 9 ,0 0 0
N et cu rren t lia b ilitie s __________________
2 ,3 6 0 ,9 6 7
M a r g in s ________________________________
2 ,9 2 0 ,8 6 5
P ro fit a n d l o s s __________________________ 1 0 ,4 8 2 ,7 7 5

5 0 ,0 0 0 ,0 0 0
5 0 ,0 0 0 .0 0 0
5 6 1 ,0 0 0
1 ,8 5 5 ,6 4 1
2 ,1 2 6 ,9 7 9
8 ,4 5 8 ,7 2 0

5 0 ,0 0 0 ,0 0 0
5 0 ,0 0 0 ,0 0 0
9 2 0 ,0 0 0
6 38 ,61 0
2 ,4 3 1 ,9 6 9
6 ,8 3 9 ,8 0 8

T o t a l ________________________ _________ 1 1 6 ,3 1 3 ,6 0 7 1 1 3 ,0 0 2 ,3 4 0 1 1 0 ,8 3 0 ,3 8 8
a D o e s n o t in c lu d e 1 77,510 shares A m e r ic a n S m e lte rs’ S ecu rities C o .,
p a r v a lu e $ 1 7 ,7 5 1 ,0 0 0 .— V . 8 2 , p . 336.

Associated Merchants’ Company.
(R e p o r t f o r th e H a l f - y e a r e n d i n g A u g . 1 1906.)
President John Claflin says:
In J u ly th e o ffice r s, w ith th e a p p ro v a l o f its d ir e c to r s , e ffe c te d a c o n s o li­
d a tio n o f A d a m s D r y G o o d s C o. a n d H . O ’ N eill & C o. u n d er th e title
O 'N e ill-A d a m s C o .
T h e A s s o c ia te d M erch a n ts C o. h e ld 1 2 ,0 0 0 sh ares
A d a m s D r y G o o d s C o. p re fe rre d a n d 6 ,00 0 sh ares A d a m s D r y G o o d s C o .
c o m m o n s to c k , o u t o f a to ta l o f 1 8,0 00 sh ares p re fe rre d a n d 1 8,0 00 sh ares
c o m m o n s to c k .
I t h eld all th e secu rities o f H . O ’ N eill & C o ., v i z ., $ 1 ,2 0 0 ,000 d e b e n tu re b o n d s , $ 1 ,2 0 0 ,0 0 0 in c o m e b o n d s a n d 1,000 shares ca p ita l
s to c k .
O ’ N e ill-A d a m s C o. has issu ed $ 3 ,0 0 0 ,0 0 0 d e b e n tu re b o n d s , $ 3 ,0 0 0 ,0 0 0 in c o m e b o n d s a n d 1,000 shares ca p ita l s t o c k , m a k in g an a g g re g a te
o f secu rities id e n tica l in p a r v a lu e w ith th e a g g re g a te o f th e secu rities o f
th e c o m b in in g co m p a n ie s .
I n e x c h a n g e fo r its h o ld in g s a fo re sa id o f th e
secu rities o f A d a m s D r y G o o d s C o. a n d H . O ’ N eill 6c C o., th e A s s o c ia te d
M e rch a n ts’ C o. has a c c e p te d a n d n o w ow n s $ 2 ,4 0 0 ,0 0 0 d e b e n tu re b o n d s
$ 2 ,0 0 0 ,0 0 0 in c o m e b o n d s a n d 800 shares c a p ita l s t o c k o f O ’ N e ill-A d a m s C o.
In a sm u ch as th e O ’ N eill p la n t e x te n d s fr o m 2 0 th S t. t o 21st S t. on 6 th
A v . a n d th e A d a m s p la n t fr o m 21st S t. t o 2 2d S t ., O ’ N e ill-A d a m s C o. has
a fro n ta g e o f tw o c o m p le te b lo c k s on 6 th A v . , w ith b u ild in g s c o n v e n ie n t
fo r jo in t m a n a g e m e n t. T h e officers e x p e c t a n in crea se in th e n et earn in gs
o f th e co m p a n ie s c o n s o lid a te d .
R esu lts fo r fo u r su cce ssiv e h a lf-y e a rs h a v e b een
6 mos.
6 mos.
6 mos.
6 mos.
to Aug. 1
to Feb. 1
to Aug. 1
to Feb. 1
1 906.
1 906.
1905.
1 905.
N e t e a rn in g s_______
$ 69 5 ,8 3 5
$ 73 8 ,8 0 5
$ 6 0 3 ,5 5 7
$ 5 6 8 ,6 0 0
D iv . on 1st p re f.S tk .
(3 )1 8 3 ,7 8 3
(3 )1 5 8 ,7 7 0 ( 2 ^ ) 1 1 9 , 4 8 7 ( 2 ^ ) 1 2 5 ,3 7 1
D l v .o n 2 d p r e f .s t k .( 3 3 ^ ) 1 7 7 ,5 8 3 ( 3 ^ ) 1 7 7 ,5 7 2 ( 3 ^ ) 1 6 4 ,7 2 2 ( 3 ^ ) 1 5 8 , 1 5 2
F o r c o m . S t o c k ._
D iv id e n d s o n co r n . _ (4

y2) 2 68 ,97 5

$ 33 4 ,4 6 9

$ 4 0 2 ,4 6 3
( 4 ^ ) 2 5 7 ,2 0 6

$ 3 1 9 ,3 4 8
$ 2 8 5 ,0 7 7
(4 )2 2 4 ,4 2 4 ( 3 ^ ) 1 8 8 , 2 6 4

R e m a i n d e r ______
S u rp . b r o u g h t f o r ’ d

a $6 5,2 1 0
1 ,2 8 7 ,6 6 9

$ 1 4 5 ,2 5 7
1 ,1 4 2 ,4 1 2

a $ 1 1 7 ,8 3 5
1 ,0 2 4 ,5 7 6

$ 9 6 ,8 1 3
9 2 7 ,7 6 3

S u r p l u s __________

$ 1 ,3 5 2 ,8 7 9

$ 1 ,2 8 7 ,6 6 9

$ 1 ,1 4 2 ,4 1 1

$ 1 ,0 2 4 ,5 7 6

a In c lu d in g $283 “ a d ju s tm e n t o f in terest e x tin g u is h e d ’ ’ in h a lf-y e a r
e n d in g A u g . 1 1906 a n d $ 2 2 ,9 1 3 in h a lf-y e a r e n d in g A u g . 1 1905.
* • •

Balance Sheet August 1 1 906.

• •

{£_•’

Assets—
Cash ______________
$ 2 ,7 0 2 ,8 7 9
45,001 shares (o u t o f 9 0,0 0 0 ) o f th e s t o c k o f H . B . C laflin C o.
(b o o k v a lu e , J u ly 1 1 906, $ 5 ,3 0 1 ,6 4 6 )_________________________
5 ,0 0 0 ,0 0 0
A ll th e p r im a r y secu rities o f: J. M cC reery & C o ., N . Y .;
Stew'art 6c C o ., B a lt.; J . N . A d a m & C o ., B u ffa lo , a n d $ 2 ,4 00 ,00 0 d e b e n tu re b o n d s o f O ’ N e ill-A d a m s C o ., N. Y _______
5 ,9 0 0 ,0 0 0
J u n io r se cu ritie s, y ie ld in g m ore th a n 1 0 % a n n u a l in c o m e on
$ 5 ,3 8 0 ,0 0 0 __________________________________________________________
5 ,0 0 0 .0 0 0
T o ta l _ _ ___________ ______________ ______ ______ _________ ___________ $ 1 8 ,6 0 2 ,8 7 9

Liabilities—
F irst p re fe rre d ca p ita l s t o c k ___________________ __________ _______ __ $ 6 ,1 1 4 ,0 0 0
S e co n d p re fe rre d ca p ita l s t o c k . ________ _____________________________
5 ,0 7 3 ,8 0 0
C o m m o n ca p ita l s t o c k ___________________________ ______________ 6 ,0 6 2 ,2 0 0
S u r p l u s ----------------------------------------------------------------------------------------------1 ,3 5 2 ,8 7 9
T o t a l _____ ______ __________________ ________________________________$ 1 8 ,6 0 2 ,8 7 9
T h e secu rities o w n e d as a b o v e g iv e th e A s s o c ia te d M e rch a n ts ’ C o. en tire
ow n ersh ip o f Jam es M cC reery 6c C o ., S te w a rt 6c C o. a n d J. N . A d a m 6c C o .;
a n d ow n ersh ip o f fo u r-fifth s o f th e d e b e n tu re b o n d s , tw o -th ir d s o f th e in ­
c o m e b on d s a n d fo u r -fifth s o f th e ca p ita l s to c k o f O ’ N e ill-A d a m s C o, a n d
fo u r-fifth s o f th e c o m m o n s to c k o f C . G . G u n th e r’s S o n s .— V . 8 3 , p . 3 81 ,27 4

International Steam Pump Company.
(R e p o r t f o r F i s c a l Y e a r E n d i n g M a r c h 31 1906.)
The report, which will be cited frilly another week, permits
the following comparison:
1906.
1905.
|
1900.
1005.
$
$
$
| Deductions—
$
834,499
O perat g p r o f it s .2 ,2 5 5 ,3 1 2 1 ,6 1 7 ,4 3 5 |F u n d , d e b t c h ’g 's 302,140
7 09,800
O th er I n c o m e .. _
6 8 ,0 7 7
J 2 4,1 47 |P re f. d iv id e n d s . 7 09 ,80 0
8 00 .59 7
---------- — ----------------- [C o m . d iv ld e n d s T o ta l I n c o m e .2 ,3 2 3 ,3 8 9 1,741,5821
I T o t . d e d u 'n s . . 1 ,1 0 1 ,9 4 9 1 .35 0.89 6
In*
t . . d*'is c o u n t.
6cc __________
128,093
8 2,2 70 B al. fo r y e a r , .s r .7 4 7 ,795 d c f . l 7,061
D e p re cia tio n .
3 4 4 ,9 5 2
320,371 P r e v . su r. dess
| a d ju s tm e n ts ) .1 ,2 8 1 ,3 0 2 2 .2 6 9 .9 0 3

Profits—

N et p r o fits . .. . 1 , 8 4 9 , 7 4 4
— V 8 3 , p . 3 f-6.

1,33 2,93 5

T o t . su r. M ch .
31 ..................2 ,0 2 9 ,1 8 7 2 ,2 5 2 ,0 3 2

5()2

THE

C H R O N IC L E

G auley Coal L and Co. (W est V irgin ia).
(Balance Sheet Dec. 31 1905.)
1904.
1905.
1 9 0 4 .-1
1905.
- • •
$
$
$
| L ia b ilitie s —
$
3
,
4
3 2 ,0 0 0
e a l e s t a t e _ _ _ _ _ 3 ,5 1 6 ,7 8 2 3 ,5 0 4 ,1 4 3 1 C a p ita l s t o c k . . .3 ,4 3 2 ,0 0 0
2 ,0 4 5
a sh & d e b ts ro c. 3 4 2 ,9 9 2
1 6 9 ,1 0 9 D e b t
th er a sse ts___
5 ,1 0 0
A c c r u e d d lv ld s.
6 0 8 ,2 2 0
5 3 9 ,5 8 0
r o fit a n d l o s s .. 1 7 5 ,3 4 6
p re l. s t o c k __
3 0 0 ,3 7 3
•I

R
C
O
P

A s s e ts — 1

T o t a l _ _ _ _ _ _ 4 ,0 4 0 ,2 2 0 3 ,9 7 3 ,6 2 5 1
T o t a l . . ......... . 4 , 0 4 0 , 2 2 0 3 , 9 7 3 , 6 2 5
* D i r e c t o r s — H e n r y L . H l g g l n s o n Is P r e s i d e n t , C . A . E l l i s - T r e a s u r e r .
R o b e r t F . P e rk in s, W illia m M . M a c B e a n , G . W . R . M a th e s o n , J . B . C rozier,
L . J . W illia m s a n d J . F . H ill.

The com p a n y was in corporated in W est Virginia in Feb­
ruary 1903, and acquired, it is said, som e 160,000 acres of
fine coal and lum ber lands at the head waters of the Gauley
R iver. Of the stock $1,144,000 is understood to be pre­
ferred 6 per cen t cu m u la tiv e. Office of President’ 44 State
Street, B oston .

GENERAL INVESTMENT NEWS.
R A IL R O A D S , IN C L U D IN G STREET R O A D S.
A rkansas V alley R R . C o . — Sale.— See Atchison Topeka &

Santa Fe R y. below .— V. 82, p. 567.
A tch ison T opek a & Santa Fe R y .— Meeting to Approve

Acquisitions.— The shareholders at the annual meeting on
Oct. 25 will vote on the following propositions:

[VOL. LXXXI1I.

The dividend of 4 % on the $3,987,383 com m on stock ,
Just declared, calls for $159,495.— V. 81, p. 1242.
Indianapolis & Louisville Traction Co.-— Prospectus.— A
handsom ely illustrated prospectus lias been issued from the
Chicago office, First National Bank Building. Compare
V. 83, p. 155.
Indianapolis & Western Traction Co.— New Line Open .—
A trial trip over the new line to D anville, 20 miles, was made
on Aug. 29 in 55 minutes with 7 stops. Regular service
was to be established on Sept. 1, the cars using the TractionTerminal station in In dian apolis.— V . 81, p. 975.
Interurban Railway & Terminal Co.— Lease of Cincinnati
& Eastern Branch.— See Union Gas & E lectric C o., Cincin­
nati, under “ Industrials” b e lo w .— V. 79, p. 2456.
Janesville & Madison (Electric) R y .— New Name.— See
Janesville T raction Co. above.
Janesville (W is.) Traction Co.— New Name. — This W is­
consin corporation on A ug. 29 filed an am endm ent changing
its name to the Janesville & Madison R ailw ay Co.
A t last accounts owned 7 miles of track capitalized as follow s: Stock
authorized, $ 1 2 5 ,0 0 0 ; issued, $ 5 0 ,0 0 0 ; first m ortgage 6 % bonds, all ou t­
standing, $ 7 5 ,0 0 0 , dated O ct. 1 1892 and due 1 9 1 2 ; trustee, Finance Co.
of Pennsylvania.

Los Angeles & San Diego Beach (Electric) Railway.—

Mortgage.— A press dispatch from San Diego on Aug. 11

announced the filing o f a m ortgage to the Los Angeles Trust
C o., as trustee, to secure the paym ent o f $706,000 40-year
To ratify the lease to this company of the Oakland & East Side R R .: the first m ortgage gold bonds.

lease of the Western Arizona Railway; the purchase of the stock and bonds
of the Denver Enid & Gulf RR. Co.; the purchase of the stock and bonds of
the Arkansas Valley RR. Co. and the construction of its railroad: the pur­
chase of the stock.and bonds of the Holly & Swink Railway Co. and the
construction of its railroad.

Dividend Prospects.— Action on the semi-annual dividend
payable Dec. 1 on the common stock, it is understood,will
be taken at the usual time— Oct. 3. Wall Street is quite
generally expecting an increase in the rate to 5 % , and pos­
sibly to 6 % , if conditions continue favorable.— V. 83, p.
379, 322.
B altim ore & Ohio R R .— Sale of Portion of Pennsylvania
Holdings.— See Pennsylvania R R . below .— V. 83, p. 491, 93.
^ ■B rattleboro (V t.) Street R y . — See Twin States Gas &
Electric Co. on page 499 of last week’s issue. A press report
from Brattleboro, V t., on March 22 said:

The com pany was incorporated early in the year under the law s o f C ali­
fornia with $ 6 ,0 0 0 ,0 0 0 of authorized capital stock in shares of $100 each,
and purchased the various railw ay lines in which E . S, Babcock of San Diego
was interested for sum s aggregating $ 5 4 6 ,0 0 0 , "p a y m e n t being m ade in
shares and first m ortgage b o n d s,” v iz .: T he San Diego O ldtow n & Pacific
Beach R R . for $ 2 5 0 ,0 0 0 , the San Diego Pacific Beach & L a Jolla R R . for
$ 13 1 ,00 0 and the road operated b y M r. Babcock on A rctic, C and 6th streets,
& c ., for $ 1 6 5 ,0 0 0 .
Tiie articles of incorporation, it is said, provide for
the building of a line along the coast from Los A ngeles to L a Jolla, for the
aforesaid acquisitions and the purchase of the N ational C ity & O tay R R .;
but this last-nam ed property was recently reported unofficially as sold to
the Spreckels interests (V . 8 3 , p . 3 8 0 ).
Directors: E . S. B abcock, A . E .
Babcock R . B . T albot A . E . Lillicrap and James Strout.

Mexican Central R y.— Bonds Called.— E quipm ent and
collateral 5 % gold bonds, second series, to the am ount of
$50,000, will be paid at par and interest at either the Old
Colony Trust Co. of B oston, M anhattan Trust C o., New Y ork ,
or G lyn, Mills, Currie & C o., 67 L om bard S t., L on don , E. C.,
The time expired yesterday for the acceptance of the offers of the New on or after Oct. 1 1905.— V . 83 p . 155.
York syndicate for the stock of the Brattleboro Gaslight Co. and the
Missouri Kansas & Texas R y .— Final Installment Colled.—
Brattleboro Street Railway Co., and acceptances have been received from
all but 20 of the 2,000 shares of the Gaslight Company, and over 500 of the The holders of subscription receipts for general m ortgage
555 shares of the street railway company. The offer for the gaslight com­
pany is par for both stock and bonds amounting to $200,000, and for the 4 j^ % sinking fund gold bonds are notified that the final
street railway company full payment of the bonds and 25 cents on the installm ent of the purchase price o f the bonds, v iz .: $295 12
dollar for the stock. Th s is the tenth property electric and gas, this syn­ per bon d, including adjustm ent of interest, is due and p a y ­
dicate has taken up in the last few years. (The stock of the Brattleboro
Definitive
Gas Light Co. was recently reported as $92,000, annual dividend rate 6 % ; able Sept. 12 1906 at the office, 49 W all St.
5 % bonds due, 1907, 1917 and 1923, $92,000. Brattleboro Street Ry., bonds will be delivered against subscription receipts upon
miles of track. 5; stock issued, $55,500; funded debt, $25,000.)
which all the installm ents have been paid. Compare Y. 82
B uffalo B radford & K ane R R . — Abandoned.— The “ Pitts­
p. 218, 334, 568, 692.
burgh Dispatch” of Aug. 31 says:
Proposed New Mortgage.— A press despatch dated A ug. 29
The company will run its last train on its narrow-gauge line between
Bradford and Mt. Jewett, Pa., (363^ miles) to-day. The road will be states that the Texas R ailroad Commission has denied the
“ scrapped” — that is, sold for scrap iron— between those points after being application to issue $1,000,000 bonds on the D allas-D enton
abandoned. S. S Bullis. President and owner, has such extensive interests
Compare V . 83, p. 435, 376.
that it has been found wise to quit operating this road, which has fulfilled division.
the purpose for which it was built.
The road was formerly the Bradford
Morelia & Tacambaro R y .— Construction.— This com pany
Bordell & Kinzua.— V. 80, p. 1174.
will have com pleted b y N ov. 1 the first section of 55 miles
C hattanooga (T enn.) R a ilw a y s .— Listed in Louisville and from Irapuato, State of G uanajuato, M exico, a city on the
Columbus.— The $2,000,000 first consolidated 5 % bonds, Mexican Central R y . south to the city of Puruandiro. The
$1,000,000
% preferred stock and $2,000,000 common road, w hich is projected further south to A rio, will have a
stock have been listed on the Louisville, K y ., and Columbus, total length of 225 miles, including 25 miles o f side tracks.

5

Ohio, stock exchanges.— V. 82, p. 867, 803.
Chicago & M ilwaukee E lectric R R . — New Line Open.— The
first through train wras run from Evanston, 111., to Racine,
W is., on Sept. 1, the distance, 50 miles, being covered in
about 2 hours and 15 minutes. “ Milwaukee Wisconsin” saj^s:

By the earlsr part of next year, or about the time that the MilwaukeeNorthern (Electric) Railway Co. puts its lines into operation between Mil­
waukee and Fond du Lac, Oshkosh and Fort Washington and intermediate
points, via Cedarburg, the Chicago & Milwaukee Electric Railway Co. will
be carrying passengers to and from the cities to the south of Milwaukee as
far as Chicago. (The Milwaukee Northern Ry. is an independent enter­
prise, with .T. M.iSaemann of Sheboygan as President; W . A. Comstock of
Detroit, Secretary, and H. A. Haigh, Detroit, Treasurer. The road will
Include about 112 miles of track.)— V. 82, p. 1099.

T he M exican G overnm ent has granted concessions, giving rights of w ay
and term inals, and exem ption for five years from im port duties on con­
struction m aterials.
The State of M iehoacan agrees to pay S 30,000 M exican
currency for each 10 kilometers built in the S tate, equivalent to about
$ 4 ,8 0 0 M exican currency per m ile.
The concessions also give exem ption
from Federal and State taxation w ith exception of stam p tax for 15 years.
The com pany was incorporated under the laws of N ew Jersey with
$ 6 ,0 0 0 ,0 0 0 of authorized capital stock and in 1903 m ade a m ortgage to
the U nited States M ortgage & Trust C o ., as trustee, to secure an issue of
$ 5 ,0 0 0 ,0 0 0 first m ortgage 5 % 40-year gold bonds lim ited to $ 2 2 ,2 2 2 22
per mile of road com pleted and equipped; on the first section of 55 miles
$ 1 ,200 .0 00 bonds have been issued.
A . J. P eyton & C o ., of 111 B roadw ay,
New Y o r k , are the financial representatives of the enterprise.
E dson J.
Cham berlin, form erly General Manager of the Canada A tlan tic, is President;
Gilbert E . Fauquier, of the Pacific Construction Co. of O ttaw a, is V icePresident and General M anager; Jacob L . Greatsinger, form er President of
the Brooklyn R apid Transit C o ., Is Second V ice-P resident.
See further
details in V . 8 1 , p . 726.

C itizens’ R ailw a y & L igh t Co. of F ort W o rth .— Consolida­
Norfolk & Western R y .— Sale of Portion of Pennsylvania
tion.— This company was incorporated under the laws of Holdings.— See Pennsylvania R R . b e lo w .— V . 83, p. 435,
Texas on Aug. 28 with $1,000,000 authorized capital stock 380.
to take over the Citizens’ Light & Power Co., the Arlington
Northwestern Elevated RR. of C h ica go.— Listed in Chicago.
Heights Street R y. and the Fort Worth & Rosen Heights
— The $17,000,000 first m ortgage 4 % bonds have been placed
Street R y ., which were recently purchased by a syndicate
headed by Cleveland interests. Warren Bicknell of Cleve­ on the regular list of the Chicago Stock E x ch an ge.— V. 83,
land is President of the new company.
The incorporators p. 436.
Oakland & East Side R R .— Lease. — See A tchison Topeka
are:

& Santa Fe R y . a b o v e .— V. 75, p. 1254.
Pennsylvania R R .— Sale of Half of B. cfe 0 . and Nor­
folk & Western Holdings.-— It- was officially announced on
D enver Enid & Gulf R R . C o.— Sale.— See Atchison Topeka
Sept. 3 that the com pany had sold one-half of its share­
& Santa Fe R y. above.— V. 82, p. 99.
holdings in the Baltim ore & Ohio and the N orfolk & W estern
E vansville & Terre H aute R R .— Common Stock Dividend .— railroads to K uhn, Loeb & C o., of New Y ork . A suppleA dividend of 4 % on the common stock has been declared, m entary statem ent given ou t on Sept. 4 made know n the
payable Nov. 1 to stockholders of record Sept. 15, being the fact that the sale included about 400,000 shares of Baltim ore
first dividend paid on that stock since May 1901. "T h e & Ohio stock and about 160,000 shares of N orfolk & W estern,
regular annual dividend of 5 % on the preferred stock was thus reducing the aggregate holdings of the Pennsylvania
also declared, payable in two installments, viz.: 2 K % on system to about 2 0 % in each of said com panies. PhiladelOct. 15 1906 and 2 j^ % on April 15 1907 to holders of record phia advices further state that the m anagem ent has under
consideration the sale of the remaining stock of the tw o
on Sept. 15 1906. Dividend record:
DIVXD’S.— 1’92. ’93. ’94. ’95. ’96. ’97. ’98. ’99. ’00. ’01. ’02 to '05. 1906 roads as well as the stock of the Chesapeake & Ohio R y . Co.,
C o m . s t o c k .} 7a 734b--2
3 134
N one.
4
ow ned b y Pennsylvania interests.
P r e f . s t o c k J ...........................
1
1
2
4 3 4 5
5
5 yea rly.
5
The statem ent of Sept. 3 says;
a A ls o 5 % in b o n d s ,
b A ls o scrip d iv id e n d .
Warren Bicknell, .J. F. Harper, J. R. Nutt and E. W . Christy of Cleve­
land; W . O. Allen of Fostoria; Carey B. Close of Toledo; George E, White,
Sam Rosen, C. E. Montgo of Fort Worth.— V. 83, p. 435.

Sep t . 8 1906.

T H E C H R O N IC L E .

The Pennsylvania RR.ttCo. announces t ha tbit has sold a part of Its
ildlnffs of Baltimore & Ohio and Norfolk & Western shares. These stocks

preferences, all of which was set rortn in tue annual rep
directors of the Pennsylvania R R . Co. to the shareholders In March 1000.
^The^deslred result having been fully realized, and the management
entertaining no fetus that the railroads of the country will over fall back
Into the old practices, the directors of the company had thought It wise
to reduce Its ownership In these companies, which had been done by selling
approximately one-half of Its holdings to Messrs. Kuhn, Loeb & Co. On
account of the allegation, repeatedly made, that the company was seeking
to control the tidewater bituminous coal traffic, the directors had taken
this action In deference to the present state of public opinion upon such
matters, although there was no foundation for the charge, and although It
was confidently believed that the company was entirely within Its legal
rights In purchasing and holding these stocks.

It is supposed that the company realized about S50,000,000
from the sale of the shares now marketed. The profit on
the purchase price is variously figured from Si 2,000,000 to
§2 0 ,0 0 0 ,0 0 0 .
The proceeds of the sale, it is believed, will
be used on account of the capital requirements of the next
two years, which, it is remembered, include the payment
of § 5 0 ,0 0 0 ,0 0 0 4 i 2% notes of the Pennsylvania Company
due Nov. 1 1907 and § 4 0 ,0 0 0 ,0 0 0 to complete the New York
terminals (compare President Cassatt’s statement in V. 82,
p. 1438). The “ New York News Bureau” says: “ Opinion
is divided as to whether- the banking firm has disposed of
the stocks in the open market, transferred them to friendly
interests or still has a goodty part of the shares to sell.” The
“ Philadelphia News Bureau” states that “ it is thought by
many that the Pennsylvania stockholders will be given an
extra dividend of say 2% out of these extraordinary profits.”
The holdings of the Pennsylvania system in the stocks
named as reported Dee. 31 1905 is shown below. It should
be noted, however, that of the stocks owned, including- the
§4 2 ,9 0 0 ,0 0 0 common stock of the Baltimore & Ohio (since
presumably increased to $ 5 3 ,6 0 7 ,0 0 0 by the right to sub­
scribe in April last to new common at par to extent of 15%
of total stock held), large blocks were on deposit as part
collateral under the collateral trust agreements of the Penn­
sylvania Company (the collateral for the recent French
loan of $ 5 0 ,0 0 0 ,0 0 0 has never been made public).
& O h io S t o c k b y P e n n s y l v a n i a System as reported
D ec. 31 1905.
P referred •
Co m ino n
bv Peunsylvania Railroad Co________________ §21.480 000
$30,293,300
b\-Pennsylvania Company___________________
5,000,000
11,044,600
by Northern C en tral_________________________
1,000,000
781,500
by Philadelphia Baltimore & W ash in gton ..
1,000,000
781,500

B o ld in a s

Held
Held
Heid
Held

o f B a ltim o r e

T o t a l .......................
-..$ 2 8 ,4 8 0 ,0 0 0
$42,900,900
Total amount known to be pledged July 1
1906 under collateral trust deeds of Penn­
sylvania Company___________________________ $4,500,000 $16,500,000
Total stock listed on New York Stock Exchange
Dec. 31 1905____________
$59,973,800 $124,531,000
H oldings of Norfolk &

Western Stock by P enn sylvania System as reported
D e c . 31 1905.

Preferred.

C om m on.

Held by Pennsylvania Railroad................................. .. $5,500,000
Held by Pennsylvania C o m p a n y __________________
5,000,000
........................
"
~
R
_________
Held by Northern
Central
Ryy _______________________
500,000

$20,330,000
1,500,000
1 , 000,000

T o t a l...................................................... ............. ..............$11,000,000
Total amount known to be pledged July 1
1906 under collateral trust deeds of Penn­
sylvania Company _________________________ $10,000,000
Total stock listed on New York Stock Exchange
Dec. 31 1 9 0 5 ._____ ______ ________________________ $23,000,000

$22,830,000
$11,500,000
$ 6 6 ,000 ,00 0

B a ltim o r e & O h io a n d N o r fo lk & W es tern sh a res k n o w n to be pledged J u ly 1 1906.

Ms P a r t C ollatera l fo r
Pennsylvania Co.

— Baltimore & Ohio—
Preferred
Common.

Issu e.

Due.

$50,000,000 4
dated 1906 ______ Nov 1 1907 ..................
$14,664,000 3 H % .
■dated 1901_______ 1906-1916 $4,500,000
$2 0 ,0 0 0 ,0 0 0 i % , da­
ted 1906--------------- 1921-1931 __________

— Norfolk & Western . —
Preferred
Common.

$6,500,000 $5,500,000S ll ,500.000
............

4,500,000

-----------------

563

S p rin g fie ld S ou th C h a rle sto n W a s h in g to n C ou rt H ou se &
C h illicoth e T r a c tio n C o . — Status oj bonds.— A press dispatch

from Springfield, O., on July 29 slalis that Master Commis­
sioner George Beard of that cily, in his report filed on July
28, held that §300,000 of the com pany’s bonds were illegal
for the reason that no certificate of the increase in capital
stock had been filed with the Secretary of State; also that the
bonds in the hands of several banks, secured by mortgage to
the Ohio Trust Co., created no licn^onJJie property.— V. 82,
................
p. 871.
•
T o le d o & W e ste r n (E le ctric) R y . — Plan to Sell Stock Fails.

— The effort to obtain the deposit of the entire capital stock
for the purpose of selling it to the J. R. Nutt syndicate hav­
ing failed, the committee, consisting of W . L. Hayes, C. M.
Stone and G. E. Coiling?, has extended the time for the de­
posit of stock with the City Savings & Trust Co. of Cleve­
land, as depositary, until and including Sept. 7, and has ad­
dressed a circular letter to the stockholders, saying:
The stockholders’ committee will use their best endeavors to arrange for
the sale of the deposited stock In connection with the sale of the property
or the equity therein upon foreclosure or otherwise, or In case of their fail­
ure so to do, will use their best endeavors to secure a participation In any
reorganization which the purchasers at such sale shall eirect.— V . 83, p. 493,
156.

U n ite d R a ilro a d s o f San F r a n c is c o .— Strike Off .— The
executive|committee of the local Car-men’s Union on Wednes­
day evening declared off the strik ebegun last week, Presi­
dent Mahon of the National Car-men’s Union having decided
that the local union had violated the rules in refusing arbi­
tration. The carmen at once reported for duty and cars
began to run that evening. The strike of the line men,
electricians, firemen and construction workers, which had
lasted for upward of a month, came to an end at the same
time. President Calhoun has consented to the appointment
of an arbitration committee to pass upon the demands of
the carmen for §3 a day of eight hours. Compare V. 83,
p. 493.
Earnings.— The gross earnings for the first 25 days of
August 1906 were $425,000, against $481,000 for the cor­
responding period in 1905. This year 375 cars were oper­
ated, against 575 to 600 in 1905.— V. 83, p, 493.
U n ite d R a ilw a y s & E le ctric C o. o f B a ltim o re .— Deposits.—
The time for the deposits of income bonds under the refund­
ing plan expired on Sept. 1. The deposits, it is announced,
aggregated morethan $13,000,000 of the authorized issue
of $14,000,000. Compare V. 83, p. 156, 215, 324, 381, 493.
U n ite d R a ilw a y s , P o r tla n d , O r e .— Change in Control of
New Project.— The C. E. Loss Co. of San Francisco, builders

of the Ocean Shore R y . of California (V. 82, p. 162), and
associates, on July 5 closed a deal for the purchase of some
92% of this company’s stock (said to be $3,000,000) for a
sum reported as about $500,000, the remaining 8 % of the
stock being held by President J. W hyte Evans, W . T. Muir
and J. B. Yeon. The purchase includes the lease of the
Chamber of Commerce Building in Portland. The company
on March 15 1906 obtained a franchise from the City Council
of Portland, and has asked for bids on the construction of
its city line, the cost of which, it is reported, will be at least
$750,000. A bond of $100,000 for the carrying out of the
terms of the com pany’s ordinance was filed with the city
on July 5.

W h e e lin g (W e s t V a .) T r a c tio n C o .— Proposed Guaranty.—
In Wheeling on Sept. 4 John A. Howard, a minority stock
T o ta l.------- ---------$4,500 000 $16,500 000 $10,000,000 $11,500,000 holder, applied for an injunction restraining the company
As illustrating the current calculations of the company’s from guaranteeing bonds in the amount of $1,000,000 to be
supposed profits, the following is given from the “ Wall issued by the Wheeling & Western and the Bellaire & South­
Street Journal” of Sept. 4, the division of the shares sold eastern railroads. The company has agreed to refrain from
into common and preferred being, of course, arbitrary:
proceeding with its plan pending the filing of briefs.— V.
Estimating that the Pennsylvania paid average prices of 85 and 90 for 81, p. 1850.
10,000.000

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

Baltimore * Ohio preferred and common, and 75 and 45 for Norfolk &
Western preferred and common, the cost price and present market value
of the stocks sold work out as shown In the table below.
It Is to be remem­
bered that the stocks sold are only half of each class In the Pennsylvania
treasury.

& O. preferred__.$15 ,0 00 ,0 0 0
<fc O. common__ 25.000,000
...........
& W. preferred.. 3,650.000
& W. common
12,350,000

Estim ated
Cost.

Present
V alue.

512.750,000
22,500,000
2.737.500
5.557.500

$13 950,000
30;000,000
3,494,000
11,642,500

T o t a l....................$56,000,000

$43,545,000

$59,086,500

B.
B
N.
N.

P ar Sold.

P rofit.
$ 1 , 200.000

7.500.000
756,500
6.085.000

$15,541,500

I he ".M oney M arket R e v ie w ” o f L o n d o n on A u g . 25 says
it is rep orted th a t n e g otia tion s h a v e a ctu a lly b een entered
u p on fo r in trod u cin g the sto ck s a n d b o n d s o f th e B . & O.
on the F rench m a rk et, a m o v e w h ich seem s n o t u n lik ely in
view o f the aforesaid sa le.— V . 8 3 , p . 4 36 , 324.
P h ila d elp h ia R a p id T ra n sit C o .— Annual Meeting.— A t the
ann al m eetin g o bo hr Id S ep t. 19 the sh arehold ers will be
asked to vote on the fo llo w in g p ro p o sitio n s:
a The ratification of the action of the directors In the relinquishing of
certain franchises granted to the Market Street Elevated Passenger Ry. C o.,
which company Is leased by the Philadelphia Rapid Transit Co.
b To enter Into a eontract with the City of Philadelphia postponing the
laylnc of the surface tracks of the Broad Street Rapid Transit Street Ry.
lPr,,a Period of 50 years. In accordance with Act of May 3 1905 and
the Ordinance of June i 1906.
<v. 8 2 . p. 870. 6 9 3.)
r A -s-nllar contract with respect to the removal of tracks on 21st St.
between Arch St. ami Callowhlll Stcl Lea-in/ the Darby Media & Chester St. R y. Co. for 999 years from
July 1 1906.
IV. 83, p. 3 8 .)
e Ratifying the action of the directors In agreeing to contribute $400,000
towards abolishing grade crossings on the lines of the Philadelphia & R ead­
ing Ry. Co. (V. 82. p
. 281; V. 82. p. 8 7 0 ).— V. 83. p. 324. 38.

S t. Josep h & G rand Is la n d R y .
th e y ea r en d in g June 30 w ere:
Cross.

T e c r—-

1805-0? ...............................*1 531.933
1904-05 ........................... 1 299 031

— V. 81, p.

1372.

- R e p o r t .— The
Net.

$454,450

304.034

results

Int. & taxes. B a l..s u r .
$246,286

255,880- •

$208,164

48148

IN D U S T R I A L , G A S A N D M IS C E L L A N E O U S .
A llis-C h a lm ers C o .— Annual Meeting.— The annual meet­
ing was held on Thursday, more than 65% of the capital
stock being represented. The annual report was read and
supplemented by a verbal statement from President Whiteside regarding the prospects of the company's business,
which he considers promising. President Whiteside was
added to the board, otherwise unchanged, and a vote was
passed assuring him of the <ordial support of the stockhold­
ers. The meeting was entirely harmonious. The pam­
phlet. report, which will be cited fully in the “ Chronicle”
another week, is about to be mailed, the delay in its ap­
pearance being due to the absence of the President in
Europe on the com pany’s business.— V. 83, p. 437, 325.
A m erica n Car & F o u n d r y C o .— Earnings.— The net earn­
ings for the three months ending July 31 1906 were §1,657,054, contrasting with $625,311 for the quarter ending July 31
1905. The directors on Sept. 5 declared preferred dividend
No. 30, 1 % % , payable Oct. 1 1906 to holders of record
Sept. 11, calling for $525,000.— V. 83, p. 97.
A m erica n H id e & L ea th er C o .— N e w Director.— Carl A .
de Gersdorff of the law firm of Guthrie, Cravath & Hender­
son, has been elected a director to fill a vacancy.
Report.— See a previous page.— V. 82, p. 1214.
A m erica n P n e u m a tic S ervice C o ., B o s t o n .— Xew Stock—
Option.— T h e shareholders on Sept. 4 voted to increase th e
p referred s to ck ( 5 %

non-cumulative) from § 5 ,0 0 0 ,0 0 0 (all

564

THE

C H R O N IC L E .

o u tsta n d in g ) to $ 7 ,0 0 0 ,0 0 0 ; th e a u th o rize d co m m o n sto c k is
$ 1 0 ,0 0 0 ,0 0 0 , o f w h ich $ 1 ,7 0 9 ,3 0 0 is in the trea su ry . A ll
sh areh old ers o f re co rd S ep t. 15 are offered the righ t to su b ­
scribe on or b e fo re S e p t. 25 fo r $ 1 ,3 2 9 ,0 0 0 co m m o n sto c k
an d $ 1 ,3 2 9 ,0 0 0 p referred s to c k , on th e basis o f $40 fo r one
share ($50) o f p re ferred s to c k , a cco m p a n ie d b y on e share
($50) o f co m m o n s to c k as b o n u s , fo r each ten shares o f th eir
re sp ectiv e h old in g s. S u b scrip tion s are p a y a b le $10 o n su b ­
scrip tion and th e rem a in d er in th ree in sta llm en ts o f $10 each
on or b e fo re D e c. 1 1906, F e b . 1 1907 and A p r . 1 1907. Cer­
tificates o f sto ck w ill b e issued as so o n as fu ll p a y m e n t is
m a d e and d iv id en d s w ill accru e im m e d ia te ly o n all fu ll-p a id
and issued shares. A ll su b scrip tion s a n d p a y m e n ts w ill b e
m a d e a t th e In te rn a tio n a l T ru st C o ., 45 M ilk S t., B o sto n .
C om pare V . 83, p . 495.
Dividend. — T h e d irectors on S ep t. 4 d ecla red th e regu lar
q u a rterly d iv id e n d o f l j /£ % on th e p re ferred , p a y a b le O ct. 1
to sto ck o f re co rd S e p t. 1 5 .— V . 83 , p . 49 5 , 438.
C in c in n a ti (O .) G a s & E le c tr ic C o .— Lease in Operation .—
Guaranteed Dividends. — See U n ion Gas & E le c tr ic C o. b e ­

lo w .— V . 83, p . 43 8 , 274.
D e t r o it R e d u c tio n C o .— M ortgage. — T his c o m p a n y
re­
ce n tly filed a m ortg a g e to th e Q ueens C ity S avin gs B a n k &
T ru st C o ., C in cin n a ti, as tru stee, to secu re an issue o f $ 2 0 0 ,000 or $500,000 b on d s d u e J u ly 12 1915.
E v a n s v ille G a s & E le c tric C o . — See (T h e ) E v a n sv ille (I n d .)
L ig h t C o. in V. 83 , p . 4 9 5 .— V . 8 2 , p . 1104.
G r e a t N o rth e r n P o w e r C o .— Description of P la n t. — T h e
“ E le ctrica l W o r ld ” o f N ew Y o r k , in its issue o f J u ly 2 8 , c o n ­
tains an illu stra ted article rega rd in g th e h y d ro -e le c tr ic p la n t
n ow b ein g establish ed b y this c o m p a n y a t T h o m p s o n , M in n ,,
on th e S t. L ou is R iv e r .
P o w e r fr o m th e p la n t w ill b e
tra n sm itted 14 m iles to D u lu th a n d S u p erior, w here s u b ­
sta tion e q u ip m e n t w ill b e p r o v id e d .
“ F ift y to se v e n ty -fiv e
m iles to th e n orth o f the p la n t lie th e M esabi an d V e r­
m ilion iron ran ges, w here th e g rea test iro n m ines in th e w o rld
w ill u n d o u b te d ly b e e le ctrica lly o p e ra te d ; to th e w e st,
w ith in tran sm ission d ista n ce , are th e G o g e b ic C rystal F alls
and G og e b ic iron ranges and th e co p p e r m ines o f th e C alu m et
D is tr ic t.”
A t S u perior th e c o m p a n y is in sta llin g s u b ­
sta tion ap p aratu s in a sta tio n o w n e d b y the S u p erior W a te r,
L ig h t & P ow er Co. T h is c o m p a n y w ill p u rch a se e le c tr ic ity
fro m th e p o w e r c o m p a n y and sell to its ow n con su m ers.
T he en tire electrica l eq u ip m e n t o f th e p la n t is b e in g fu r ­
nish ed b y th e G eneral E le ctric Co.
T h e co m p a n y is c o n tro lle d b y th e N orth w estern P ow er C o .
T he fo llo w in g has been revised fo r th e “ C h ron icle” :
The Great Northern Power Co. of Duluth is nearly ready to begin opera­
tions after an expenditure of over 54,000,000 to date in the construction
of an immense plant on the St. Louis River. Tucker, Anthony & C o., of
Boston and Charles D. Barney & Co., of New York, have had charge of
the financing. C. A . Duncan, Treasurer of the North Butte Mining Co.
is President of the Northwestern Power Co., which will own all of the
$2,000,000 capital stock of the Great Northern Power Co.— the operating
company. The Northwestern was incorporated in Maine in January 1905
its authorized capital stock is $8,000,000 common and $2,000,000 6 %
preferred of which there is outstanding common, $6,500, 000 (the remaining
$1,500 000 being held for future use) and all the preferred. Par of shares

$100.

Preparations are being made for the development of 80,000 horse-power,
and by Sept. 1 it is expected that 30,000 horse-power will be available.
The dams, reservoirs, power-houses, etc., have all ben equipped for 80,000
horse-power. It requires the sale of about 10,000 horse-power to meet
the interest upon the $4,000,000 bonds, and fixed charges are already more
than provided for by contracts made with the electric lighting and street
railway companies of Duluth and Superior. It is planned eventually to
furnish power for the Duluth Meseba & Northern R R . when that road is
electrically equipped, and also for the many iron mines on the Meseba and
Vermilion range, which now require the generation of 50,000 steam horse
power for their operation. Compare V . 80, p. 653, V . 82, p. 573.

T he G reat N orthern P o w e r C o. has m a d e a first m o rtg a g e
to th e K n ick e rb o c k e r T ru st C o. o f N ew Y o r k , as tru ste e ,
to secure an issue o f $ 1 0 ,0 0 0 ,0 0 0 5 % 3 0 -year g o ld b o n d s o f
$1,000 each , d a ted F e b . 1 1905 an d du e F e b . 1 1935, b u t su b ­
je c t to call (as an en tire issue o n ly ) a t 110 and in terest o n
an y in terest d a y ; in terest p a y a b le F e b . 1 and A u g . 1. Im m e ­
d iate issue, $ 4 ,0 0 0 ,0 0 0 ; rem ainin g $ 6 ,0 0 0 ,0 0 0 reserv ed fo r
ex ten sion s, a d d ition s and im p ro v e m e n ts , b u t n o t to b e is­
sued in excess o f th e co st o f the sam e. T h e G reat N orth ern
P ow er Co. w as in co rp o ra te d in M innesota Jan. 16 1903.
Officers: P resid en t, Chas. A . D u n ca n , a n d S ecreta ry , O scar
M itchell, b o th o f D u lu th , M in n .; T reasu rer, W m . A . T u ck e r,
B o sto n , M ass.— V . 82, p . 573.
H a m b u rg -A m erica n S tea m sh ip C o .— New C a p ita l — A press
d isp a tch fro m H a m b u rg on S ep t. 4 a n n ou n ces a p lan to issue
$5,0 0 0 ,0 0 0 n ew ca p ita l, to p r o v id e co n stru ctio n o f a d d itio n a l
steam sh ip s, m ak in g th e to ta l sto ck $ 3 0 ,0 0 0 ,0 0 0 .
D ia m o n d M atch C o ., C h ic a g o .— J a p a n e s e A llia n c e . — T he
“ C hicago E c o n o m is t” says:
Through its control of the Bryant & M ay Co. of England, the Diamond
Match Co. has made a deal with the Japanese match manufacturing indus­
tries. Japan is an important factor in the distribution of matches in the
Far East, and with the use of improved American machinery will dominate
the trade.— V . 83, p. 495, 215,

N orth G e rm a n -L lo y d S tea m sh ip C o .— New S t o c k . — A
press d esp a tch fr o m B erlin an n ou n ces th e in crease o f th e
ca p ita l sto ck fro m $ 2 5 ,0 0 0 ,0 0 0 to $ 3 1 ,0 0 0 ,0 0 0 fo r th e p u r ­
p o se o f im p ro v in g th e c o m p a n y ’ s tra n s-A tla n tic s e r v ic e .—
V . 76, p . 1033.
N o r th w e s te r n P o w e r C o . — H old in g C o m p a n y . — See G reat
N orth ern P ow er Co. a b o v e .
Q ’N eill-A d a m s C o ., N e w Y o r k . — M e r g e r . — See re p o rt o f
A s s o cia te d M erch a n ts’ Co. on a p re ce d in g p a g e .— V . 83,
p . 276.
P e n n s y lv a n ia Ir o n W o r k s , P h ila d e lp h ia . — Sold. — See S ta n d ard R o ller-B ea rin g Co. b e lo w .— V . 8 1 , p . 1379.

|\ OL. LXXXI1I,

P e o ria (111.) G as & E le ctric C o .— See P eoria (111.) L ig h t
Co. in V . 8 3 , p . 4 9 8 .— V . 8 2 , p . 1501.
P ly m o u th C ord a g e C o.
New Stock — O ption. — T h e sh are­
h old ers o n S e p t. 4 v o te d to in cre a se ith e ca p ita l s to c k fro m
$ 2 ,0 0 0 ,0 0 0 to $ 2 ,5 0 0 ,0 0 0 . T h e n ew sto ck is offered at par
to sh areh olders o f re co rd S e p t. 15 in th e p ro p o rtio n o f on e
n ew share fo r ea ch fo u r shares h eld. S u b scrip tio n b o o k s
w ill close O ct. 22 a n d p a y m e n ts are to b e m ad e as fo llo w s:
2 5 % O ct. 22, 2 5 % Jan . 22 1907 and 5 0 % A p ril 22. In a d d i­
tio n to the n ew p la n t at W e lla n d , O n t., w h ich is to b e c o m ­
p leted n ex t m o n th , a n ew m ill, it is sa id , is p ro p o se d at P ly ­
m o u th .— V . 8 3 , p. 442.
Pullman C o m p a n y .— R u m o r s . — T h e earnings fo r the late
fiscal y e a r, it is asserted , w ere m a te ria lly larger th an last y e a r,
on e sta te m e n t, “ officia lly v o u c h e d f o r ,” p la cin g th em at
f7 3 ^ % on th e $ 7 4 ,0 0 0 ,0 0 0 sto c k (as again st 1 3 .4 % in
1 9 0 4 -0 5 ), in creasin g th e a ccu m u la te d surplus to o v e r $ 2 2 ,00 0 ,0 0 0 .
W h ile no p a rticu la rs are o b ta in a b le fro m official
sou rces, it is gen era lly b e lie v e d th a t b e fo re th e en d o f the
y ea r som e a ctio n w ill b e ta k en b y th e b o a rd w h ich w ill in
effect a m o u n t to a d iv isio n o f a p o r tio n o f the aforesaid sur­
plu s. One s to ry is th a t a c o m p a n y w ill b e org a n ized to tak e
o v e r the real estate h old in gs an d its shares offered on “ a m ost
fa v o ra b le r a te ” to th e P u llm an sto ck h o ld e rs.
I t is a ck n o w l­
ed ged th a t plans fo r e x te n siv e im p ro v e m e n ts are u n d er c o n ­
sid era tion , in clu d in g , p re su m a b ly , th e esta b lish m en t o f a
steel car p la n t, b u t th ese, it is sa id , n eed n o t n ecessitate an y
n ew fin a n cin g .— V . 83 , p . 41.

Standard Roller-Bearing Co.— B u y s P e n n s y lv a n ia I r o n
W o r k s . — T h e “ P h ilad elp h ia R ,ecord” o f S ept. 1 says:
This company, with plant at 48th St. and Girard A v e ., purchased yester­
day the entire property of the Pennsylvania Iron W orks (V. 81, p. 1379) at
52d St. and Girard A ve. for about $230,000. The property is 1,500 feet long
and 150 feet wide, on which are five factory buildings, with a floor space of
over 100,000 feet. It adjoins the present factory of the Standard Roller
Bearing Co., which is 986 feet long, giving over half a mile frontagefln al
occupied by that company. The concern at present employs 1,200 handday and night.— V .i8 3 , p. 162.

Sears, Roebuck & Co., Chicago.— F ir s t D iv id e n d . — T h e
d irectors on S e p t. 6 d ecla red th e first regu lar q u arterly d iv i­
den d o f 1 M % on th e p referred s to c k , p a y a b le O ct. 1 to h o ld ­
ers o f r e c o r d S ep t. 1 7 .— V . 8 3 , p . 384, 276, 41.
Southern Steel C o .— A c q u i s it i o n s . — T he c o m p a n y has p u r­
ch ased th e en tire ca p ita l sto ck s o f th e L a ce y -B u e k Iro n C o.
o f A la b a m a an d th e C h a tta n o o g a Iro n Co. o f T enn essee.
These a cq u isition s w ill, it is u n d e r sto o d , g iv e th e S ou th ern
Steel Co. tw o a d d itio n a l b la st fu rn a ce s, on e o f 200 and on e
o f 250 ton s c a p a c it y , as w ell as a d d itio n a l ore field s, coal
m ines near B irm in g h a m , & c ., an d 350 cok e o v e n s, q n d w ill
o b v ia te the n ecessity o f p u rch a sin g su p p lies o f iron fr o m
tim e to tim e to su p p le m e n t its o w n p r o d u c tio n .
T he c o m ­
p a n y w ill n o w h a v e , it is s ta te d , a su rplu s fo r sale in th e
m a rk et.
See V . 83, p . 384, an d b o n d offerin g, V . 82, p . 696|
N ew O ffic e r s . — T h e b o a r d o f d irectors has been in creased
fr o m seven to tw e lv e , fo u r n ew d irectors b ein g e le cte d , v iz .:
C. E . B u ek a n d J. D . L a c e y o f th e L a ce y -B u e k Iro n C o .,
O akleigh T h o rn e , w h o w as la rg e ly in terested in th e C h atta­
n o o g a Iro n C o ., an d Charles P . P errin , a S ou th ern iron
m a n , lea v in g on e v a c a n c y .
M oses T a y lo r o f K e a n , V an
C ortla n d t & C o. has b e e n e le cte d P resid en t in p la ce o f E v e r­
e tt T . S ch u ler, w h o b e co m e s V ice -P re sid e n t, C. E . B u ek b e ­
ing also ele cte d to on e o f th e v ic e -p r e sid e n cie s.— V . 83, p . 384.
Syracuse Gas C o .— R ed u ctio n o f R a t e s . — T h e S tate C om ­
m ission o f Gas & E le c tr ic ity o n S ep t. 6 a n n ou n ced its d e­
cision on th e a p p lica tio n o f th e c it y a u th orities fo r a re d u c­
tio n o f th e m a x im u m rates ch a rg ed fo r gas an d e le ctricity .
T he rates are re d u ce d as fo llo w s , b e g in n in g O ct. 1:
Gas, per 1,000 cubic feet, from $1 to 95 cents; arc street lamps from
$85.77 y2 per lamp per year to $68; commercial incandescent electric light­
ing (for one year only), from 12 cents per kilowatt hour, with 2 cents dis­
count if paid before the 15th of the m onth, to 9 cents, and after Oct. 1 1907
to 8 cents.— V . 74, p. 482.

Syndicate Water Go., Oakland, Oal.— N e w C o m p a n y —
See P e o p le ’s W a te r Co. a b o v e .—-V. 8 2 , p . 575, 338.
r -1
Tennessee Coal, Iron & RR. — A c tio n o f M i n e r s . — T he
u n ion m iners in A la b a m a w h o in 1904 w en t on strik e a t th e
m ines o f th e T ennessee C oal, Ir o n & R R . C o ., th e SIossSheffield Steel & Iro n C o ., th e R e p u b lic Iro n & Steel Co. an d
the W o o d w a r d Iro n C o ., v o te d on A u g . 21 to call th e strik e
o ff. T he m ines in v o lv e d h a ve lo n g sin ce b e e n p la ce d on
th e “ o p e n s h o p ” b a sis. See V . 80, p . 2 2 1 7 .— V . 83, p . 162.
U n io n Bag & Paper C o .— D iv id e n d R ed u ctio n R e c o m ­
m e n d e d . — T he d irectors on T h u rsd a y v o te d to recom m en d
th a t th e e x e c u tiv e c o m m itte e on S ep t. 10 declare a q u a rterly
d iv id e n d o f 1 % on th e p referred s to c k , o f w h ich th ere is
$ 1 1 ,0 0 0 ,0 0 0 7 % cu m u la tiv e . F r o m J u ly 1899 to J u ly 1906
th e rate was 7 % p er a n n u m , p a y a b le 1 M % q u a rterly .
P resid en t F isher has issued a letter to th e stock h old ers
sayin g:
The directors have authorized a dividend at the rate of 4 % per annum
instead of the usual 7 % , for the last quarter, for the following reason:'
During the past year the company incurred a mortgage indebtedness
nearly $ 3 , 0 0 0 , 0 0 0 , a vast part of the proceeds of which was used in the
purchase of timber rights of some 2 , 0 0 0 square miles of land in Canada, with
large water powers, mills, docks, & c.. and the balance was used in taking
up its floating indebtedness and adding to its working capital. This pur­
chase was made on account of the rapid increase in the cost of the market
price of pulp wood and in view of the rapid disappearance of the spruce
forests of this continent.
The interest and sinking fund of this indebtedness began at once, while
the results of the lumbering operations of the season cannot be known until
the end of the year,and because of an extended drought in Canada during the
past season the full benefit will not accrue until the'end of next season.
W hile the gross earnings from general business this year are within a few
thousand dollars of its gross earnings last year, the interest and sinking fund
requirements would make it necessary to encroach oil the surplus were the
full dividend paid on the preferred stock for this quarter. This the direcjj t ors were unwilling to do.— V . 82, p. 1444._____________________________________
For other Investment News see page S77.

Sept. 8 1906.J

T H E

R e p o r t s
CHICAGO &

565

C H R O N IC L E .

a n d

S o c m u c u ts .

NORTH WESTERN R A I L W A Y C O M P A N Y.

FORTY-SEVENTH ANNUAL REPORT— FOR THE FISCAL YEAR ENDING JUNE 30 1906.
The results of the operations of the Chicago & North suance of the authority heretofore conferred by the Stock­
Western Railway Company for the fiscal year ending June 30 holders and voting Bondholders of the Company, the Board
of Directors has authorized during the year additional issues
1906 are as follows:
of Common Stock and Scrip as follows:
Average number of miles operated________
7,428.77

Gross Earnings—
From Passengers_________________________ $14,441,415 07
From F reigh t___________________________ 45,802,852 58
From Express, Mall and Miscellaneous___ 3,237,310 33

To the Stockholders of
equal to 15% of their
To the Stockholders of
equal to 20% of their

Total Gross Earnings_________________________________$63,481,577 98
Operating Expenses and Taxes—
Operating Expenses (62.68% of Gross
Earnings)_____________________________ $39,789,099 17
Taxes (3.82% of Gross Earnings)_________
2,427,176 68
---------------------- 42,216,275 85
Net Earnings........... ........................................................ -.-$21,265,302 13
Other Charges—
Interest on Bonds and Interest___________ $6,816,329 34
( X o t e .— This is the net amount after
making the usual deductions for divi­
dends received on C. St. P. M. & O. Ry.
preferred and common stock.)
Sinking Funds______ _____________________
225,500 00
--------------------- - 7,041,829 34
Add Other Income_______________________________________
Dividends (8% on Preferred Stock and 7% on Common St’k)

$14,223,472 79
577,080 00
6,483,913 50

Surplus Net Income__________________________________ $8,316,639 29
Less Amount of Expenditures for Construction, Improve­
ments and Permanent Additions to the Property deducted
from the Surplus Net Income for the year by authority of
the Board of Directors__________________________________ 6,000,000 00
Balance Income for the year_______________________________ $2,316,639 29
Balance to Credit of Income Account June 30 1905________ 11,640,181 01

record on June 1 1905 an amount
holdings__________________________ $10,609,230 00
record on April 2 1906 an amount
holdings________________ _____ ____ 16,267,400 00

Total....................................................................................... $26,876,630 00

Of the above amount of Common Stock and Scrip, $26,842,070 00 is outstanding, $200 00 is owned by the Company,
and $34,360 00 remains unissued.
Changes in the Common Stock and Scrip, other than the
issues authorized above, have resulted in a net increase of
$4,735 00 in such Common Stock and Scrip outstanding and
a corresponding decrease in the amount of such Common
Stock and Scrip owned by the Company. Thus, there is for
the year a total increase of $26,846,805 00 in the amount of
Common Stock and Scrip outstanding and a decrease of
$4,535 00 in the amount of Common Stock and Scrip owned
by the Company.
There was no change in the Preferred Stock or Preferred
Stock Scrip during the year.
The Company's authorized Capital Stock is One Hundred
Million Dollars ($100,000,000 00), of which the following has
been issued to June 30 1906:

Balance to Credit of Income Account June 30 1906------------ $13,956,820 30

Preferred Stock and Scrip outstanding______$22,395,120 00
Preferred Stock and Scrip owned by tlie Co_.
3,834 56

The results as compared with the preceding year are as
follows:

Total Preferred Stock and Scrip_________________________ $22,398,954 56
Common Stock and Scrip outstanding_______ $75,182,742 92
Common Stock and Scrip owned by the Co__
2,334,003 05

Passenger Earnings Increased_________________ $1,101,701 13
Freight Earnings increased___________________ 6,510,022 11
Express, Mail and Miscellaneous Earnings in­
creased ____________________________________
124,579 57

Total Common Stock and Scrip_________________________ 77,516,745 97
Total Capital Stock and Scrip June 30 1906______________ $99,915,700 53

Increase in Earnings_____________________________________ $7,736,302 81
Operating Expenses increased_________________$3,329,764 26
Taxes increased______________________________
237,199 94

FUNDED DEBT.
The outstanding Bonds of the Company were decreased
Increase in Operating Expenses and Taxes________________ 3,566,964 20 $3,862,000 00, and the Company's Bonds in Sinking Funds
$149,000 00, during the year ending June 30 1906. Of the
Increase in Net Earnings____________________ _____ ________ $4,169,338 61
The increase in Operating Expenses referred to above was total decrease, $133,000 00 was due to the operation of the
Sinking Funds and $3,878,000 00 was on account of the re­
distributed as follows:
tirement of Bonds at maturity. The changes in detail were
Increase for Maintenance of Equipment_______ $2,612,955 5$ or 78.47%
as follows:
Increase for Conducting Transportation_______ 1,326,239 26 or 39.83%
Less Decrease for Main­
tenance of W ay and
Structures__________ $802,045 73 or 18.08%
Less Decrease for Gen­
eral Expenses_______
7,384 85 or
.22%
-----------------

$3,939,194 84 or 118.30%

609,430 58 or

18.30%

Net Increase in Operating Expenses________ $3,329 764 26

Total Bonds Retired__________________________________ $3,880,000 00

MILES OF RAILROAD.
The total number of miles of railroad owned
June 30 1906 was

7,352.06 miles

In addition to which, the company operated:
Under Lease—
St. Paul Eastern Grand Trunk Railway (Clintonville. Wis., to Oconto, Wis., and branches)60.02 miles
DePue Ladd & Eastern Railway (Ladd, 111., to
Seatonville, 111.)___________________________ 3.25
Under Trackage Rights—
Peoria & Pekin Union Railway (in the city of
Peoria. 111.)_____________________________
2.02
Indiana Illinois & Iowa Railroad (Churchill,
111., to Ladd, 111.)_____
2.80
Union Pacific Railroad (Broadway Station.
Council Bluffs. Iowa, to South Omaha.Neb.)_ 8.73
Chicago St. Paul Minneapolis & Omaha Railway
Blair, N eb., to Omaha, N eb.)______________ 24.70

All of the Bonds issued ($4,880,000 00) remain unsold in
the Treasury of the Company.

63.27

TREASURY BONDS.
At the close of the previous fiscal year the amount
of the Company’s Bonds In Its Treasury was_____________ $5,802,000 00
38.25

Total number of miles operated June 30 1906__________ 7,453.58
Illinois________________________________________
Wisconsin______________________________________
M ichigan______________________________________
Io w a _____________________ ________________ ____
Minnesota_____________________________________
South Dakota .............................................................
North Dakota_________________________________
Nebraska__________________ ____________________
Wyoming______________________________________

BONDS ISSUED. BUT UNSOLD.
C. & N. W . Ry. 3 3^% General Mortgage Gold Bonds of 1987
issued in exchange for Bonds retired as above__________ .$3,880,000 00
C. & N. W. Ry. 3 3^% General Mortgage Gold Bonds of 1987
issued on account of construction expenditures made
during the year, as provided by terms of the mortgage___ 1,000,000 00
Total Bonds Issued___________________________________ $4,880,000 00

“

Tiie above mileage is located as follows:
In
In
In
In
In
In
In
In
In

BONDS R E T IR E D .
Retired at Maturity—
Milwaukee & Madison Ry. 1st Mortgage, 6%_$1,600,000 00
Chicago & Tomah RR. 1st Mortgage, 6 % ____ 1,528,000 00
Chicago Milwaukee & North Western Railway
Construction, 6 % ________________________
750,000 00
-------------------- $3,878,000 00
Retired with Sinking Fund Payments—
C. & N. W. Ry. 5% Sinking Fund Bonds of 1879_________
2,000 00

685.02 miles
1,826.42 “
519.88 “
1,577.60
650.30 "
948.36 “
14.28 “
1,101.26 “
130.46 “
7.453.58

“

This amount has been increased during the year
ending June 30 1906 as follows:
C. & N. W. Ry. 3 V i% General Mortgage Gold Bonds of 1987,
received in exchange for Bonds retired, as shown above__ 3,880,000 00
C. & N. W. Ry. 3 3^% General Mortgage Gold Bonds of 1987,
received from Trustee on account of construction expen­
ditures _________________________________________________ 1,000,000 00
C. & N. W. Ry. Sinking Fund Bonds of 1879, purchased with
Sinking Fund payments, drawn for redemption January 31
1906. These Bonds are fundable with 3 3^% General
Mortgage Gold Bonds of 1987___________________________
131,000 00
Leaving Bonds In the Treasury June 30 1906__________ $10,813,000 00
Net Increase In Treasury Bonds during the year..................... $5,011.000 00

The company had in operation June 30 1906, in addition to
PASSENGER TRAFFIC.
the above. 861.71 miles of second, third and fourth main
The details of Passenger Earnings and Traffic for tin year
tracks, and 2,687.12 miles of sidings and yard tracks, making ending
30 1906, compared with the preceding year,
a total mileage of all tracks, both owned and operated, of were as June
follows:
11.002.41 miles.
------- Increase--------The usual tables, showing the mileage of the road classified Passenger Earnings—
Amount.
%
1906.
1905.
$921,634 1)7 10.13
$10,010,289
64
From First-class Pass.$9,094,655 57
by divisions and changes during the year, may be found
12,540 46 16.89
80,834 10
From Emigrant Pass.
74,287 04
elsewhere in this report.
From Round-Trip &
CAPITAL STOCK.
For the purpose of obtaining funds to improve and
: <nd
the Company's property and to provide additional equipment,
as well as for other proper corporate purposes, and in pur­

Excursion Pass.. 2,289,967 28
From Commuta­
tion Pass............... 1,796,855 65
From Parlor-Car
Fares..........................
83,91780

2,299,706 39

9,739 11

.43

1.943,016 80

146,161 15

8.13

95,568 14

11.62034 13.84

Totals................. $13,339,713 94 $14,441 415 07 $1,101,701 13

8.26

566

TH E

P ercen ta g e o f
In c . ( + ) or
D e c . (— )

1906.
8,519,759
15,103
2,125,491
12,316,982

Passengers Carried—
1905.
First-class_________________________ 8,041,100
13,026
Emigrant_________________________
Round Trip and Excursion_________ 1,932,438
Commutation_____________________ 11,529,739
21,516,303
T o ta ls .................
Passengers Carried One Mile___________ 601,289,753
Average Fare Paid per Passenger______ 62 cents
Average Rate Paid per Passenger per M. 2.02 cents
Average Distance Traveled per Pass’gcr 30.73 miles
Total Mileage of Passenger Trains_____ 14,935,506
Average Approximate Earnings per Mile
Run by Passenger Trains___________
51 09

-5.95
1- 15.95
+ 9.99
+ 6.83

22,977,335
703,176,138
63 cents
2.05 cents
30.60 miles
15,797,903

+6.79
+6.33
+1.61
+ 1.49
— .42
+5.77

$1 10

+.92

F R E IG H T T R A F F IC .
T h e details o f F re igh t Traffic for the y ea r ending June 30
1 9 0 6 , com p ared w ith the preceding y e a r , were as fo llo w s:
— TTt C T P ( I l'.P

1905.
1906.
A m o u n t.
%
Freight Earnings____ 539,292,830 47 545,802,852 58 56,510.022 11 16.57
1905.
31,129,651
Tons of Freight Carried .
Tons of Freight Carried One Mile.. .4,292,448,817
Average Earnings Received per Ton
51 26
Average Earnings Received per Ton
per Mile_______________________ .92 of a cent
Average Distance Each Ton was
137.89 miles
H auled______________ ______
18,017,914
Total Mileage of Freight Trains___
Average No. of Tons of Rev. Freight
Carried per Train per Mile Run__
238.23
Average No. of Tons of Rev. Freight
Carried per Loaded Car per Mile
Run_______________________ 13.26
Aaerage Approximate Earnings per
Mile Run by Freight Trains____
52.19

P ercen ta g e o f
In c . ( +) or
D e c . (— )

1906.
35,788,243
5,156,074 115
51 28

+ 20.12

.89 of a cent

— 3.26

144.07 miles
19,634,933

+ 4.48
+ 8.97

262.60

+10.23

14.46

+9.05

52.34

+ 6.85

-14.97

+ 1.39

M A IN T E N A N C E O F W A Y A N D S T R U C T U R E S .
T h e to ta l O p eratin g E x p e n se s of th e C o m p a n y for the year
ending June 3 0 1906 were $ 3 9 ,7 8 9 ,0 9 9 17; o f this a m o u n t
$ 6 ,8 6 1 ,8 9 7 7 8 w as for exp en d itu res p ertain in g to th e M ain ­
ten a n ce o f W a y and S tru ctu res.
In clu d e d in these e x ­
pen d itu res is th e cost of 2 9 ,1 8 3 to n s o f steel rails, th e greater
p ortion o f w hich w as laid in rep lacem en t of rails o f lighter
w eigh t in 2 5 6 .9 6 m iles o f trac k ; also th e cost of 1 ,9 6 4 ,0 4 5
new ties.
T h e exp en d itu res for M a in ten a n ce o f W a y and Structures
also include a large p o rtio n of the cost o f b a lla stin g 9 .0 0 m iles
of track w ith crushed sto n e , 5 0 5 .2 3 m iles w ith gravel and
8 5 .6 3 m iles w ith cinders and slag; th e e rection , in place of
w o o d en stru ctu res, of 6 0 new steel b rid ges on m a son ry and
3 on pile su p p o rts, aggregatin g 2 ,9 4 7 feet in len g th and con ­
tain in g 2 ,6 1 8 ton s of bridge m e ta l; and th e rep lacem en t of
oth er w ooden structures w ith m a son ry arch and b o x cu lverts
and cast-iron p ip es, th e openin gs b ein g filled w ith earth .
T h e w ood en structures replaced b y p e rm a n e n t w ork aggre­
g a te 9 ,2 9 6 feet in le n g th .
T h e details o f th e exp en ditu res on a cco u n t o f M aintenan ce
o f W a y and Structu res for th e y ea r ending June 3 0 1 9 0 6 ,
com p ared w ith th e preceding y e a r , were as follow s:

Ralls Laid in Renewals—
New steel rails laid_________
Usable rails laid___________
Ties Laid in RenewalsNumber____________
Cost of Rails—
Usab) e rails.

.

1905.
34,872 tons
15,721 “

I n c r e a s e (+ )
1906.
D e c r e a s e (— ).
22,889 tons — 11,983 tons
6,294 “
— 9,427 “

50,593

29,183

"

2,997,941

“

•
— 21,410

“

— 1,033,896

1,964,045

. $982,271 52
326,954 59

$641,475 34 — $340,796 18
130,386 25 — 196.568 34

$1,309,226 11

$771,861 59 — $537,364 52

Less Value of old rails and other
item s_________________

805,511 73

$503,714 38
1,354,117 43
. 3,111,234 10
548,505 41
Miscellaneous Track Material -

463,296 07
$308,565
858,528
3,140.092
563,891

— 342,215 66

52 — $195,148 86
22 — 495,589 21
42
+ 28,858 32
+ 15,385 83
24

r

and Track.

.$5,517,571 32 $4,871 077140 — $646,493 92

lu res w e r e as f o llo w s :

ings and Signs_________
Superintendence_________
Sundry Miscellaneous Charges.

49,348 28
67,779 43

58,146 03
66,849 15

+ 8.797 75
— 930 28

693,050 94

598,835 03

— 94,215 91

582,570 38

691,951 67

+ 109,381 29

46,292 54

54,303 42

+ 8,010 88

208,545 70
211,167 75
90,617 17

198,511 05
231,692 91
93,531 12

— 10,034 65
+ 20,525,16
+ 2,913 95

Total Charges Account Main­
tenance of Way & Struct’s.57,466,943 51 56,864.897 78 — $602.045 73
T h e a b o v e exp en ditu res for M aintenan ce o f W a y and
Stru ctu res for th e current y ea r a m o u n t to 1 7 .2 5 per cen t of
th e to ta l O p eratin g E x p e n se s.
M A IN T E N A N C E O F E Q U IP M E N T .
T h e exp en d itu res for M ain ten an ce o f E q u ip m e n t for the
year ending June 30 1906 includ e th e cost o f new e q u ip m e n t
acq uired for rep lacem en ts and charged to O peratin g E x p e n se s
as fo llo w s:
L o c o m o t iv e s .

45 Freight______________ _____ ____ ______ _____ $667,668 78
33 Switch ____________________________ _____ 379,941 61
,604
100
100
938
500
354
600
15
100
4,311

T h e details of the e xp en d itu re s on a cco u n t of M a in te n a n ce
of E q u ip m e n t for th e year en d in g June 3 0 1 9 0 6 , com p ared
w ith the preceding y e a r , were as fo llo w s:
............................... gjjj
....................................................... .... - ......... ......... ■j t Increase' ( + ) or

........................... 1905.
• 1906.
New Locomotives Purchased
for Replacements________ $667,390 83 $1,047,610 39
General Repairs of Locomo­
tives............ .......... .......... 1,999,791 32 2,092,921 76

D ecrea se

(— ).

+$380,219 56
+93,130 44

Netcharge'for Locomoti’s.52,667,182 15 $3,140,532 15 +$473,3„0 00
New Passenger Cars.Purehased •• • .................... ........................................
for Replacements________
$59,654 95 - __________ - £— $59,654 95
General Repairs of Pass. Cars 478,339 90
564,559 63
• +86,219 73
Total for Passenger!Cars.-i, $037,994 85 LS564.559 63 - +526,564 78
New Freight and Work C a r s ............ •• • • — *•« ................................
Acquired for Replacements $1,048,159 60 $ ,
,272 73 +51,660,113 13
General Repairs of Freight
and Work C ars................. 1,541,265 79 1,942,130 05
+400,864 26
Total for Freight and Work
Cars___________________$2,589,425 39 $4,650,402 78 +52,060,977 39
Total replacements, renew­
als and repairs of Car
Equipment___________ .$3,127,420 24 $5,214,962 41 +$2,087,542 17
O th er E x p e n s e s A c c o u n t M a i n ­
te n a n c e o f E q u i p m e n t we^C
as fo llo w s :

Repairs of Shop Machinery
and T ools--_____________ $165,540 81
.Superintendence___________
152,446 18
Sundry Miscellaneous Charges 306,590 47

$184,398 73
163.944 31
328,297 83

+$18,857 92
+11,498 13
+21,707 36

Total charges account Main­
tenance of Bquipment--$6,419,179 85 $9,032,135 43 +$2,612,955 58
T h e a b o v e exp en ditu res for M a in te n a n ce of E q u ip m e n t
for th e current year a m o u n t to 2 2 .7 0 per cent o f th e to ta l
O perating E x p e n se s
C O N S T R U C T IO N ,
T h e con stru ction charges for th e y ea r en d in g June 3 0 1 90 6
were as fo llo w s:
O n A c c o u n t o f A d d it io n a l M a i n T r a c k s , v iz .:

Third and Fourth Tracks, Melrose Park M i l e s .
to Elmhurst, 111______________________ 3.71
Third Track, Cortland to DeKalb, 111______ 2.55
Third and Fourth Tracks, St. Francis to
Bay View, Wls_______________________ 1.61
Second Track, Otis to Beverly____________ 4.84

$48,856 57
25.151 90
89,093 13
185,665 88
---------- —— $348,767 48

O n A c c o u n t o f E x t e n s i o n s , v iz .:

Laona, Wls.. to Saunders, Mich.... ............29.51 $341,265 33
Mercer to Presque Isle District, Wls______19.49 170,522 46
Bonesteel to Gregory, South Dakota_____ 25.93
5,708 31

517,496 10

O n A c c o u n t o f E le v a tin g T r a c k s in C h ic a g o a n d V i c i n i t y , v i z . :

Ada Street to Kedzie Avenue, Chicago------------ $700,816 05
South Branch Track, 550 feet east of Western
Avenue to Canal Street, Chicago___________
192,391 32
Balmoral Avenue, Chicago, to Livingston Street,
Evanston. Illinois_________________________
56,006 64
949,214 01
S u n d r y C o n s tr u c tio n —
Right of Way and Additional Depot and Yard
Grounds_______________________ ________ ..$1,181,522 02
Buildings, Furniture and Fixtures____________
694,727 82
Docks and Wharves_________________________
30.479 66
Shop Machinery and Tools___________________
88,763 58
Permanent Bridges (cost of new over old)______
440.154 42
New Sidings, Yard Tracks and Spurs to Indus­
955,975 12
tries (86.86 miles)_________________________
Sheboygan Cut-off__________________________
320,920 66
Miscellaneous Construction, including Fences,
Road Crossings. Interlocking Switches, Block
Signals and other items____________________
545,692 51
4.258,235 79
A d d it io n a l E q u ip m e n t —
35 Locomotives, 2 Observation Smoking Cars. 37 First-Class
Passenger Cars, 10 Baggage Cars, 35 Caboose Cars, 1,550
Box Freight Cars, 500 Furniture Cars 500 Refrigerator Cars,
1,000 Live-Stock Cars, 1 Wrecking Car and 1 Officers’ Car.. 3,370,311 29
$9,444,024 67
Less amount credited to Cost of Property account
retirement of Sinking Fund Bonds of 1879----- $133,000 00
Less Surplus Net Income for the current year cred­
ited to Construction by. authority of the Board
of Directors________________________________ 6,000,000 00
------------------ 6,133.000 00
Balance Charged to "Cost of Property” for Construction
for the year__________________________________________$3,311,024 67

Repairs of Interlocking- Plants.
Repairs of Block Signals_____
Repairs and Renewals of
Bridges and Culverts_______
Repairs and Renewals of Build­
ings_______________________.
Repairs and Renewals of Dock:
and Wharves______________

78

|VOL. LXXXI11.

C H R O N IC L E .

F r e ig h t C a r s .

$1,047,610 39

Box Freight Cars______________________ $1,055,066 01
78 187 55
Furniture Cars.
87.067 85
Refrigerator Cars_______
549,172 42
Gondola Cars___________
257,367 11
Platform Cars---------------215,252 27
Live Stock Cars_________
430.229 45
Ore Cars_______________
19,244 85
Caboose Cars___________
16,685 22
Box Car Bodies (balance).

TRACK

E L E V A T IO N IN
T H E C IT Y
A N D V IC IN IT Y

OF

C H IC A G O

T h e elev a tio n o f th e G alen a D iv isio n m a in traexs in K in zie
S tre e t, fro m A d a Street to K e d z ie A v e n u e , a distance o f 2 .4
m ile s, in progress a t th e d ate o f th e last A n n u a l R e p o rt to
th e shareh olders, has b een co m p le te d .
T his w ork included
th e elev a tio n of th e m a in tracks to a height of 14 feet a b o v e
their form er le v e l, the con stru ction of nine new su b w a y s and
the recon stru ction o f one su b w a y , th e con stru ction of a re­
tain ing w a ll, nearly con tin u ou s, on th e north sid e, and in
places on the sou th sid e, of the C o m p a n y ’s right o f w a y ,
the ta k in g d ow n of tw o large street v ia d u c ts, and the p a v in g
of K in zie Street on th e n orth side o f the elev a tio n for a dis­
tance of one m ile , including the low ering of w ater m ain s and
the recon stru ction o f sew ers; also the con stru ction of fou r
interlockin g p la n ts and the exten sion o f the A u to m a tic
Signal S y s te m .
T h e elevation of th ese tracks has resulted
in the elim in ation of eight grade crossings.
T h e elev a ted m a in track s on th e G alen a D ivision are now
con tin u ou s fro m A d a Street to N o rth 4 6 th A v e n u e , a dis­
tan ce of 4 .1 m ile s, th e n u m b er of track s elev a ted being as
follow s:

From Ada Street to Western Avenue------------ *............. ............................... 4
From Western Avenue to Kedzie Avenue--------------------------------------------- 9
From Kedzie Avenue to North 40th Avenue------------------------------------------ 5
From North 40th Avenue to North 46th Avenue________ _____ _________ 3

2,708,272 73

Total Cost.................. - ...................................................$3,755,883 12

T h e e levation of the C o m p a n y ’s S o u th B ranch track s in
Six teen th S tre e t, C h icago, referred to in th e last A n n u a l
R e p o r t, has been in progress during th e year
A large
a m o u n t of the prelim inary w o rk , such as the bu ild ing of re­
taining w a lls, fou n d ation s for s u b w a y s , & c . has been c o m -

Sept . 8 1900.j

T H E C H R O N IC L E .

pleted.
l'w o tracks have thus far been elevated betw een
W ood and L oom is streets.
An ordinance has been a d op ted b y the C om m on Council
o f the C ity o f C hicago requiring the elevation o f this Com ­
p a n y's m ain tracks on the M ilwaukee Line from Balm oral
Avenue to the northern city lim its at H ow a rd A ven u e, a dis­
tance o f 2.74 miles. A similar ordinance has been ad op ted
b y the City o f E van ston requiring the con tin u ation o f this
elevation through that city from H ow ard A venue to the
northern city lim its just b e y o n d L ivin gston A ven u e, a dis­
tance o f 3.98 miles.
The prelim inary steps in the inaugura­
tion o f this w ork have been taken and the eleva tion o f the
tracks will be in progress during the ensuing fiscal year.
Upon tin- com p letion o f this w ork the C om p a n y ’s m ain tracks
on the Milwaukee Line will be elev a ted , con tin u ou sly , from
Chicago A venue to the northern bou n d a ry o f the City o f
E van ston, a distance o f 13.22 miles.
S U N D R Y C O N S T R U C T IO N .
A dd ition al m ain track s h a ve been com p leted during the
year as fo llo w sO/i the Galena Division—

Third and Fourth Main Tracks from Melrose Park to Elmhurst, Illinois
• a distance of 3.71 miles.
Third Main Track from Cortland to DcKalb, Illinois, a distance of 2.55 miles.

On the Wisconsin Division—

Third and Fourth Main Tracks from St. Francis to Bay View, Wisconsin
a distance of 1.61 miles.

On the Iowa Division—-

Second Main Track on the Cedar Rapids Cut-off, from Otis to Beverly,
a distance of 4.84 miles.

F or th< a ccom m od a tion o f industries and the d evelop m en t
o f traffic, 86.86 m iles o f sidings, spurs and yard tracks were
con stru cted on the several divisions during the year.
In pr<ividing for the extension and enlargem ent o f the Com­
p an y's station and term inal facilities, a large expenditure
has been m ade during the year fo r additional dep ot and yard
grou n d s. The m ore im p orta n t expenditures on this account
have been in the cities o f Chicago and O m aha. In Chicago
th e C om pany has acquired a tract o f land adjoining its W ells
Street Passenger T erm inal, con tain ing 67,363 square feet,
and an oth er tract adjoining its State Street Freight Term inal,
con tain in g 39,871 square feet, this latter tract having been
form erly know n as the G alena E lev a tor p rop erty . In
•Omaha the C om pany has acquired fou r city b lock s of cen­
trally located land u pon which it w ill erect m odern freight
houses and provide adequate team tracks to accom m odate
its increasing traffic originating at and destined to th at city .
.An ordinance recen tly adopted b y the City Council of
S h eb oy g a n , W isconsin, perm its the con stru ction b y the Com­
pan y of a C ut-off through that c ity , and warrants it in p ro ­
ceeding w ith the con stru ction o f extensive im provem ents in
the passenger find freight facilities at that im portan t station.
The C ut-off is 4.13 miles in length and will enable the Com ­
pany to effect a saving in distance and avoid the h eavy
grades and num erous grade crossings on its present line
through that c it y . The im provem ents in the station facilities
•consist of a large new Passenger Station, a F reight House
295x36 feet, and a Cheese H ouse 138x75 feet, and also the
raising of the grade and enlargem ent o f the system of tracks.
A considerable expenditure has been m ade during the year
■on a ccou n t of the con stru ction o f new Passenger Stations,
Freight H ouses, Engine H ouses and oth er buildings on the
several divisions o f the C om p an y's railw ay.
The m ain line o f the C om p an y w est o f L on g Pine, Nebras­
ka, on the Nebraska & W y o m in g D ivision , has been re­
located for a distance o f 1.97 m iles, resulting in a saving in
d istance of one m ile, the elim ination o f 209 degrees o f tw o
and three degree cu rvatu re, and im p ortan t grade reductions
as com pared with the old line. This w ork in v olv ed the c o n ­
struction o f 595 feet o f steel trestle.
Similar im provem ents o f less m agnitude have also been
com p leted on other D ivisions.
N E W R A I L W A Y S A N D E X T E N S IO N S .

5<>7

T he M ilwaukee & State Line R a ilw a y , ex ten d in g from
an intersection w ith the present T hird and F ourth Main
Tracks o f the M ilwaukee Line, near Lake B luff, Illin ois, to
an in tersection with the T hird and F ourth Main T rack s of
that Line, near St. Francis, W iscon sin, a distance o f 50.34
m iles, is nearing com p le tio n , and it is e x p e cte d will be open ed
fo r traffic during the m onth o f O ctob er 1900. T his is a
d ou b le-tra ck railw ay and will provid e the C om p an y w ith a
con tin u ou s F ou r-T ra ck S ystem betw een the cities o f C hicago
and M ilwaukee.
The branch railw ays ex ten d in g fro m near L aon a on the
A shland D ivision, in W iscon sin , to an in tersection w ith the
Peninsula D ivision at S au n d eis, M ichigan, a distance of
29.51 m iles, and from M ercer, W iscon sin , to the Presque Isle
D istrict, a distance o f 19.19 m iles, have been com p leted and
op en ed for traffic.
Since the p u b lica tion o f the last A nnual R ep ort to the
shareholders the C om pany has u ndertaken , th rou gh the
m edium of p rop rieta ry com pan ies organ ized in its interest,
the con stru ction o f the follow in g new railw ays:
P IE R R E

A

FORT

P IE R R E B R ID G E R A IL W A Y .

This railw ay will ex ten d from an intersection w ith the
D akota D ivision o f the C hicago & N orth W estern R a ilw a y ,
in the City o f P ierre, S outh D a k o ta , to an in tersection with
the Pierre R a p id City- A N orth W estern R a ilw a y , hereafter
referred to , 0.2 m iles north o f F ort Pierre in Stanley C ou n ty,
South D ak ota, a distance o f 1.79 m iles. The crossing o f the
Missouri R iver will be effected b y the con stru ction o f a
bridge btew een Pierre and F ort Pierre. T he su b-stru ctu re
o f this bridge will con sist o f seven m ason ry piers carrying the
superstructure an d one u p -stream p rotection m ason ry pier
for the draw span. The superstructure will consist of four
fixed spans, each 350 feet lon g , and a draw span 445 feet
lon g , its total length from centre to centre o f end piers being
1,864 feet. T he draw span p rov id es fo r tw o clear openings,
each 200 feet w ide.
P IE R R E

R A P I D C IT Y A N O R T H W E S T E R N

RY.

This railw ay begins at an in tersection w ith the Pierre A
F ort Pierre B ridge R a ilw a y , 0 .2 m iles n orth o f F ort Pierre,
South D a k ota , and exten d s in a general w esterly d irection ,
traversing p ortion s o f S ta n ley , L ym an and P enn ington
Counties, in South D a k o ta , and term inates at an intersec­
tion w ith the N ebraska A W y o m in g D ivision o f the Chicago
A N orth W estern R a ilw a y at R a p id C ity , a distance o f 165.47
m iles. The con stru ction o f this railw ay is well a d van ced
and will be com p leted in the early p a rt o f 1907.
The C om pany has also undertaken the con stru ction of
an extension from B onesteel, S outh D a k o ta , to G regory,
South D ak ota , a distance o f 25.93 m iles, w hich will be co m ­
pleted during the ensuing fiscal year. T his exten sion passes
through G regory C ou n ty, w hich em braces th at p ortion of
the R osebu d In d ian R eserv a tion op en ed to settlem en t in
1904, and term inates near the presen t eastern b ou n d a ry of
that reservation.
LAN DS.
The report o f the L and C om m issioner for the year en din g
June 30 1906 gives the tran sactions o f the L and D epartm en t
for that period. F rom this it appears th at the tota l q u a n tity
o f the C om p a n y ’s land sold am ou n ted to 2,4 5 8.65 acres and
1,855 tow n lots, the tota l con sideration received , p ayable in
cash and in tim e installm ents, being $287,256 96. T he acre­
age sold from the respective grants was as follow s:
A cres.
Minnesota G ran t..............................
44.93
Michigan Grant___________________________ 1,101.67
Wisconsin Grant__________________________1,312.05

Consideration,
$2,662 95
17,924 39
26,496 96

Average
per A cre.
$5926
1627
2019

2,458.65
$47,084 30
Town Lots sold, number 1,855________________________ 240,172 66
$287,256 96

Reference was m ade in the last A nnual R ep ort to the
The gross cash receipts from land grants and tow n lots,
W yom in g A North W estern R ailw ay, the M anitow oc Green deferred p a ym en ts, in terest on deferred p aym en ts and
B ay & North W estern R a ilw ay, the M ilwaukee A State Line stum page, were $365,410 52. The n et cash receipts (being
R ailw ay, and to tw o branch railw ays, then under con stru c­ the am ount after d ed u ctin g expenses o f op eration and the
tion in the interest of this C om pany. During the year c o v ­ cost o f lands purchased for tow n sites) were $246,954 53.
ered b y this report progress has been m ade tow ard the com The total acres rem aining in the several grants June 30 1906
pletion of these new railw ays, as follows:
am ounted to 429,995 57 acres, o f w hich 44,201 62 acres were
The W y om in g A North W estern R a ilw a y has been nearly under con tra ct for sale, lea vin g 385,793 95 acres unsold.
com pleted and will be opened for traffic during the ensuing
The net receipts from the sale of Land Grant Lands and
m onth from Casper, W y om in g , to Shoshoni, a new town from the sale of lands and lots of the T ow n L ot C om panies,
located near the eastern b ou n d a ry line o f the Shoshoni for a series of years, h ad on June 30 1905 resulted in a balance
Indian R -rrv a tion in W y om in g , a distance o f 102.4 m iles. to the credit o f Land In co m e a m ou n tin g to $3,215,572 71.
From Shoshoni to the C om p a n y ’s p roposed term inus at 1his am ou n t has been reduced du rin g th e year by ap p lyin g a
Lander. W y om in g , a distance o f 45.7 m iles, the con stru ction portion thereof to the reduction o f the cost o f the securities,
of the railway :s well advan ced and will be com p leted during e tc ., o f certain proprietary com p an ies and b y the creation of
the year 1906.
an E quipm ent Renewal F un d . T he am ount transferred to
1 he M anitow oc G ieen B ay A N orth W estern R ailw ay has the credit of the E qu ip m en t R enew al F un d, togeth er with
been com pleted from M an itow oc, W iscon sin, to the east oth er sundry balances available fo r such purpose, has re­
side o f tiie f o x R iver, near Green B ay, W iscon sin, a distance sulted in an accum ulation in th a t Fund during the year
o f 34.74 miles. The bridge over the F ox R iv er, near Green o f $1,148,681 39.
B ay, and the remaining sections o f the railw ay exten din g
A ppended hereto m a y be fou n d sta tem en ts, accou nts and
from Duck Creek, W isconsin, to G illett. W iscon sin, a dis­ statistics relating to the business o f the fiscal year, and the
tance o f 29.88 miles, and from Pulaski, W iscon sin, to Eland con d ition of the C om p a n y ’s affairs on June 30 1906.
Ju nction , W iscon sin, a distance o f 48.38 m iles, are under
M A R V IN H U G H IT T ,
con stru ction and will be com pleted during the ensuing
autum n.
President.

568

THE

C H R O N IC L E .

[V ol.

l x x x iii .

T H E D E N V E R & R IO G R A N D E R A I L R O A D C O M P A N Y .

T W E N T IE T H A N N U A L R E P O R T — F O R T H E F ISC A L Y E A R E N D E D JU N E 30 1906.

To the Stockholders of the Denver & Rio Grande Railroad
Company:
The incom e o f you r Com pany for the fiscal year ended
June 30th 1906, including $262,124 85 interest and dividends
received, was $19,948,239 64, an increase o f $2,724,598 63
as com pared with the previous year.
The gross earnings from operations were $19,686,114 79,
being an increase o f $2,654,607 46; the operation expenses
were $12,104,172 16, an increase of $1,935,211 55; and the
net earnings were $7,581,942 63, an increase of $719,395 91.
The percentage o f increase in gross earnings was 15.59 per
cen t, in expenses 19.03 per cen t, and in net earnings 10.48
per cent.
After providing for all charges against income, Including two
semi-annual dividends of 2 3^% each upon the preferred
capital stock, and contributing $120,000 to the renewal
fund, there remained a surplus from the year’s operations of $1,306,838 84
From which appropriations were made for:
Additional standard gauge equipment_______ $1,000,000 00
Part cost engine-houses Denver and Pueblo..
150,000 00 1,150,000 00
Surplus carried to Profit and L oss._________________________

$156,838 84

For detailed inform ation y o u are referred to the state­
ments and statistics prepared b y the Com ptroller and the
General A uditor and subm itted herewith.
There are bonds and stocks in the treasury o f the C om pany
at par value am ounting to $80,642,807 50, w hich are carried
on the book s at $25,624,486 63; also bon ds at par, and cash
in the Special R enew al F und, am ounting to $434,724 55,
carried at $334,938 30, and bonds and stocks deposited with
the M orton Trust Com pany as collateral for certain First
Consolidated M ortgage B onds o f the R io Grande W estern
R ailw ay C om pany, am ounting at par value to $16,614,000 00
and carried at $9,768,063 52. A statem ent in detail cover­
ing these securities will be found on page 24 of pam phlet
report.
There were no unpaid vouchers at the close o f the fiscal
year, excep t those for June, which are payable in the ordinary
course of business during July.
A certificate from Mr. W arren G. P urdy will be found on
the follow in g page, he having again m ade an independent
exam ination of the book s and accounts o f the C om pany, in
accordance with the B y-L aw s, and b y request o f the special
com m ittee appointed at the last annual m eeting o f the stock ­
holders.
Under the term s o f the E quipm ent Trust explained in
form er annual reports, tw o semi-annual paym ents o f principal
and interest were m ade, am ounting to $202,312 50, o f which
$138,000 00 was paid ou t o f the Special Renew al Fund and
the balan ce, $64,312 50, was paid out of the General Fund
and charged to Profit and Loss.
The standard-gauge branch from Durango to F arm ington,
abou t 4 7 Jdi m iles, referred to in the last annual report as
being in the course o f construction, was com pleted in Sep­
tem ber 1905.
The developm ent o f great bodies o f low -grade copper ores
in what is know n as the Bingham D istrict, U tah, and the
determ ination b y leading smelting interests to construct
extensive plants for treating these ores on the south shore
of Great Salt L ake, abou t 15 miles west from Salt Lake City,
m ade necessary the construction o f a 16-mile extension of
the B ingham branch from a p oin t thereon to Garfield, the
location of the new smelters. The prospective large ore
tonnage to be m oved from the B ingham District mines to
these smelters when in full operation called for the con­
stru ction , with as low a gradient as possible, of another ex ­
tension 12 miles long of the Bingham branch, because the
existing line, known as the Copper Belt R ailroad (owned
b y the R io Grande W estern C o.) in the Bingham mining
district has gradients so excessive as to make it im possible
to transport daily the tonnage the mines will produce and
the smelting plants will require. These tw o extensions,
aggregating abou t 28 m iles, are estim ated to cost about
$ 1 ,0 0 0 ,0 0 0 , and will be paid for in part b y the proceeds of
R io Grande W estern First Consolidated M ortgage 4 % Gold
B onds issued under the terms o f the m ortgage at the rate of
$20,000 per m ile. A con tract covering a term o f years has
been entered into whereby a large ore tonnage is assured,
w hich will be supplem ented b y other classes o f freight to
and from these new sm elting industries. Some o f the bonds
— $320,000— were issued on sixteen com pleted miles o f these
extensions during the year; and, in ad d ition , $80,000 were
issued on a branch fou r miles long which was constructed
from R o y Station near Ogden to H oop er, a prosperous agri­
cultural com m un ity having no other railroad facilities.
F or several years the m anagem ent has been gradually
preparing to change from narrow to standard-gauge the
western portion of the main line o f the Third D ivision, be­
tween M ontrose in the Uncom paghre V alley and Grand
Junction, a distance o f abou t 73 m iles. In renewals of ties

those of standard-gauge dim ensions were used; em bankm ents
were widened where necessary and bridges were strengthened.
When the N orth Fork B ranch, 43 miles long, was constructed
from Delta tw o to three years ago, its roadbed and bridges
were made to conform to standard-gauge specifications, and
standard-gauge ties were used; bu t the rails were laid three
feet apart, instead o f 4 ft. 8 ^ 2 in . The prelim inary work
for change of gauge was practically com pleted at the close
of the fiscal year, the purpose being to make the change
between the 20th and 25th o f July 1906. A t the date of
this report, the 116 miles referred to are of standard-gauge,
and it is believed that farm and orchard products will be
increased and business generally will be greatly stim ulated
in the fertile valleys traversed by that portion o f you r Sys­
tem . The use o f standard-gauge equipm ent will be o f great
advantage in handling the output from the coal properties
at Som erset, w hich is the term inus of the N orth F ork Branch.
In view o f the large tonnage that m ust be m oved to the
new sm elting plants at Garfield, the great increase in general
tonnage on you r system , abou t 2 0 % , com pared with the
previous fiscal year; the standard-gauging of 116 miles of
road, and the further consideration that from 40 to 50 of
the standard-gauge locom otives and a large num ber of stand­
ard-gauge freight cars, purchased 17 or 18 years ago, are old ,
o f insufficient ca p a city, and inadequate for econom ical op ­
erations, you r directors set aside the sum o f $ 1 , 0 0 0 ,0 0 0 from
the surplus incom e o f the C om pany for the fiscal year, to be
applied to the purchase o f standard-gauge equipm ent of
m odern design and ca p a city.
The wTork o f laying heavy rail, 85-lbs. weight per ya rd ,
in place of lighter rail, on the m ain line of the D enver & R io
Grande R ailroad fro m D enver to Grand Junction, was com ­
pleted. On the R io Grande W estern R a ilw ay, 77^6 miles
o f 85 lbs. weight o f rail were laid, and on June 30th there
were abou t 127 miles o f the main line laid with th at weight
of rail. There still remain 58 miles o f 65-lbs. steel w hich
will be replaced with 85-lbs. steel during the current fiscal
year. The balance o f the main line, som e 143 miles, is laid
with 75-lbs. rail.
• •
The Grand Junction passenger d epot and freight house,
referred to in last annual report, and the tracks and appur­
tenances, were com pleted.
A num ber of spurs to industries, additional side and yard
tracks, structures and other facilities were p rovided at vari­
ous points to m eet the requirem ents o f traffic. The w ork o f
m odifyin g the grades and im proving the alignm ent of the
standard-gauge main line was continued.
•fefThe engine houses at D enver and P u eblo, o rig in a lly 'd e­
signed for narrow-gauge m otive p ow er, were fou n d to be
inadequate to accom m odate the increasing num ber o f heavier
locom otives in use and to be acquired. Arrangem ents were
therefore m ade for the construction of a 30-stall, brick
engine house, with eight outside engine pits, a brick power
house, a H olm en coaling station o f 400 tons cap acity, an
80-ft. turntable, and a concrete cinder p it, at Denver;
and a 49-stall, brick engine house, concrete cinder pits, a
H olm en coaling station o f 600 tons ca p a city, and an 80-ft.
turntable with electric turning device, at P ueblo. These
im provem ents at D enver were nearly com pleted, and at
Pueblo about tw o-thirds o f the contem plated w ork was
done at the close o f the year. An am ount representing
approxim ately the value o f the facilities replaced b y the new
structures was charged to In com e.
The ten locom otives referred to in the last report as being
under contract for delivery in July 1905 were received and
were paid for out o f the appropriation made for the purpose
from the previous y ea r’s incom e.
A year ago you r Directors expressed the belief that there
would be greater business a ctiv ity , accom panied b y substan­
tially increased traffic and revenues in b oth Colorado and
U tah, and the figures em bodied in this report fully ju stify
the opinion then expressed. The total increase in gross re­
ceipts from traffic was $2,654,607 46, o f which $2,011,136 69
was freight, $570,009 99 passenger and $73,460 78 express,
mails and miscellaneous. The total gross receipts from
traffic, $19,686,114 79, were far the largest in the history of
the Com pany; and existing conditions in Colorado and Utah
indicate receipts equally favorable during the ensuing fiscal
year. This, h ow ever, will depend in a great measure, if
n ot w h olly, on harm onious relations betw een em ployers
and w orkm en, respect for the laws and freedom from dis­
orders and acts of violence which have heretofore at times
disturbed confidence and retarded the active and successful
developm ent of the great natural resources of the tw o States
referred to.
In their last annual report you r Directors explained at
length the relations with the W estern Pacific R ailw ay Co.
and the plans for constructing a low -grade line (that is, with a
m axim um gradient of 1 % ) , and with satisfactory alignment
betw een Salt Lake City and San F rancisco. It was also
stated that the main line will be substantially constructed

Sept. 8 1906. |

T H E CHRONICLE.

a c c o r d i n g t o m o d e r n s p e c i f i c a t i o n s , a n d w ill b e la id w it h s t e e l
r a ils o f t h e w e ig h t o f S 5 l b s . t o t h e y a r d , a n d t h a t it s c o m ­
p le t io n w a s a s s u r e d .
A c tiv e w o rk h as been u n d er w a y
d u r i n g t h e g r e a t e r p o r t i o n o f t h e fis c a l y e a r , b u t t h e s c a r c i t y
o f la b o r t h r o u g h o u t t h e c o u n t r y h a s r e t a r d e d t h e w o r k , a n d
t h e a m o u n t a c c o m p l i s h e d t h u s f a r is le s s t h a n w a s a n t i c i ­
p a ted .
E v e r y e f f o r t t o s e c u r e a d e q u a t e f o r c e s is b e i n g m a d e
b y t h e c o n t r a c t o r s w h o h a v e u n d e r t a k e n t h e h e a v ie s t a n d
m o s t d iffic u lt p a r t s o f t h e e n t e r p r is e .
I t is t h o u g h t t h a t
la t e r o n fu ll f o r c e s w ill b e s e c u r e d .
T h e f in a n c i a l d e t a ils ,
u n fin is h e d a y e a r a g o , w e r e s a t i s f a c t o r i l y c o n c l u d e d b y in ­
c r e a s in g f r o m § 5 0 , 0 0 0 ,0 0 0 t o § 7 5 , 0 0 0 ,0 0 0 t h e c a p it a l s t o c k
o f t h e W e s t e r n P a c if ic C o m p a n y , a n d , p u r s u a n t t o t h e c o n ­
t r a c t s m e n t i o n e d in t h e la s t r e p o r t , b y p la c i n g a n a d d i t i o n a l
1 0 0 ,0 0 0 s h a r e s , o r § 1 0 , 0 0 0 ,0 0 0 , in t h e D e n v e r & R i o G r a n d e
C o m p a n y ’ s t r e a s u r y , a n d 1 5 0 ,0 0 0 s h a r e s , o r § 1 5 , 0 0 0 ,0 0 0 ,
in t h e t r e a s u r y o f t h e R i o G r a n d e W e s t e r n C o m p a n y , t h u s
g i v i n g th e s e t w o C o m p a n ie s 5 0 0 ,0 0 0 s h a r e s o f a p a r v a lu e
o f § 5 0 , 0 0 0 ,0 0 0 , o r t w o - t h i r d s o f t h e e n t ir e c a p i t a l s t o c k .
I t m a y not, b e o u t o f p la c e t o s a y t h a t r e c e n t e v e n t s in
S a n F r a n c is c o h a v e in n o w i s e d i s t u r b e d t h e c o n f id e n c e y o u r
D ir e c t o r s h a v e e x p r e s s e d in t h is n e w lin e o f r a ilw a y a n d in
t h e a d v a n t a g e s t o b e d e r i v e d f r o m t h e d e v e l o p m e n t o f it s
lo c a l r e s o u r c e s , a n d t h e i m p o r t a n c e a n d v a lu e o f t h is n e w
a rte ry o f c o m m e r c e t o th e D e n v e r & R io G ra n d e S y ste m .
F a it h in t h e fu t u r e o f t h e W e s t e r n P a c if ic R a i l w a y is ju s t
a s s t r o n g a s i t w a s b e f o r e t h e S a n F r a n c is c o d is a s t e r .
The
c i t y w ill b e r e b u ilt o n fin e r , m o r e a t t r a c t i v e a n d b e t t e r e n ­
g in e e r in g p la n s .
T h e g r e a t h a r b o r w ill c o n t in u e t o h o ld
a n d in c r e a s e its o c e a n c o m m e r c e ; t h e n a v i g a b l e w a t e r s o f t h e
S a c r a m e n t o V a lle y w ill a l w a y s a t t r a c t a n d s u s t a in in la n d
n a v ig a tio n .
S a n F r a n c is c o a s a f in a n c i a l c e n t r e w ill m a in t a in
h e r s u p r e m a c y o n t h e P a c if ic C o a s t ; t r a d e a n d c o m m e r c e b y
la n d a n d w a t e r w ill p a y t r i b u t e in g r e a t e r v o l u m e t h a n e v e r
b e f o r e t o h e r m e r c h a n t s , m a n u f a c t u r e r s a n d c it iz e n s g e n e r a l­
ly .
T h e s o il o f C a lifo r n ia is a s f e r t ile a s i t w a s b e f o r e t h e
d is a s t e r , t h e m in e s a r e a s p r o d u c t i v e , t h e f o r e s t s a r e a s r ic h
in t i m b e r , a n d t h e o t h e r v a r o u s n a t u r a l r e s o u r c e s a r e ju s t
a s e x t e n s iv e a n d v a lu a b le .
B y O rd e r o f th e B o a rd o f D ire c to r s .

569

G E N E R A L P R O F IT A N D LOSS AC C O U N T.
( A d j u s t m e n t s t h e r e in d u r i n g t h e y e a r .)
Dr.

B y Balance June 30th 1905-----------By Surplus for the year ended June
'30th 1000 as per Incom e A c co u n t
By A djustm ents during: the year to
credit o f Prollt and Loss d ir e c t -- $22,010 81
Less A djustm ents for sam e p eri­
od to d ebit o f P rofit and
L o ssd lre c t__________________
2,898 04

150,838 84

19,718 77

T o D iscount on R . G. W . R y . Co.
1st Consolidated M ortgage 4 %
Bonds s o ld _________________ _____
T o D onation to San F rancisco
Sufferers ................................T o E quipm ent Bonds
redeem ed .............. $150,000 00
Less am ount charged
R enew al Fund . . . 138,000 00 $12,000 00
Interest on E q u ip ­
m ent B on d s_________ __________

Cr.

*3,223,347 37

$2,000 00
25,000 00

52,312 50

84.312 50

T o B alance.............. ...............................

3,307,992 48
$3,399,904 98 $3,399,904 98

B y Balance at credit o f P rofit and Loss June 30
1906, see C om parative B alance S h eet_______

RENEW AL

$ 3 ,307 ,992 48

FUND.

( A d j u s t m e n t s t h e r e in J u n e 3 0 1 9 0 5 t o J u n e 3 0 1 9 0 6 .)
Dr.

B y Balance June 30 1905_________________________
B y R eceipts from In co m e ________________________
B y A ccretions to the fund during the y e a r_______
T o E quipm ent B onds redeem ed ___$150,000 00
Less am ount charged to P rofit
and L oss____________________
12,000 00
$138,000 00
T o B alance__________ ______ _____________________

334 938 30
$472,938 30

B y balance at cred it o f R enew al F un d June 30
1 9 0 6 .__________ ____________ _________________

E. T. JE FFE R Y ,

COST O F

President.

Cr.

$335,451 69
120,000 00
17,486 61

$472,938 30
$334,938 30

ROAD.

D.&, R.G.RR.

R .a. W.Ry.

Total.

$
5
$
T o Balance June 30 1905___ 102,749,478 44 12,876.353 85 115,625,832 29
T o Farm ington
E xtension,

N ew Y o r k , A u g u s t 2 7 th 1906.

Denver, Colorado, August 21 1 9 0 6 .
To the Stockholders of the Denver & Rio Grande Railroad
Company:
T h e C o m it t e e a p p o i n t e d a t t h e a n n u a l M e e t in g o f t h e
S t o c k h o ld e r s o f t h e D e n v e r & R i o G r a n d e R a i l r o a d C o m p a n y ,
h e ld a t D e n v e r , C o l o r a d o , O c t o b e r 17 1 9 0 5 , h a v i n g r e q u e s t e d
th a t I e x a m in e th e b o o k s a n d a c c o u n ts o f y o u r C o m p a n y fo r
t h e fis c a l y e a r e n d in g J u n e 3 0 1 9 0 6 , 1 h a v e t h e h o n o r t o r e p o r t
that- I h a v e c o m p l e t e d t h e e x a m i n a t i o n a n d h e r e b y c e r t if y
t h a t t h e s t a t e m e n t s o f t h e f in a n c i a l c o n d i t i o n o f t h e C o m ­
p a n y , a s s h o w n in t h e a n n u a l r e p o r t f o r t h a t p e r i o d , a r e c o r ­
r e c t a n d a s d e t a ile d t h e r e in .
T h e d e t a ils o f t h e s e v e r a l a c c o u n t s , a s s h o w n in t h e G e n e r a l
B a la n c e S h e e t , S t a t e m e n t o f E a r n in g s a n d E x p e n d i t u r e s a n d
t h e I n c o m e A c c o u n t , w it h t h e s t a t is t ic a l i n f o r m a t i o n g iv e n
in t h e r e p o r t , a r e c o m p l e t e a n d c o r r e c t , a n d a r e a s s h o w n b y
t h e r e c o r d s in th e g e n e r a l b o o k s o f t h e C o m p a n y .
T o t h e O ffic e r s o f t h e C o m p a n y I a m u n d e r o b l i g a t i o n f o r
v a lu a b le a s s is t a n c e r e n d e r e d m e w h ile in p e r f o r m a n c e o f t h is
d u t y ; t h e y h a v e e x t e n d e d t o m e e v e r y f a c i l i t y t o e n a b le m e t o
m a k e t h e e x a m i n a t io n t h o r o u g h a n d c o m p l e t e .
V e r y r e s p e c tfu lly ,
W .

G. PU R D Y ,

On Behalf of the Stockholders.

Less charged
"C ost
o f
R oad
June
30 1905” . . . 347,108 61

483 745 19

483,745 19

T o H oop er Branch _ . _
T o Garfield B each E xtension
“ Cost to June 30 1908” ___
T o Ogden D ep ot P r o p e r t y ..
T o Real Estate
at Salt Lake
C ity for D e­
p ot
and
Grounds,
“Cost
to
June 30 ’06” 270,596 59
Less chgd.
Cost o f R oa d
June 30 1004 100,825 50

26,600 17

26,600 17

180.945 70
67,143 09

180,945 70
67,143 09

169,771 09

169,771 09
r :;
68,464 98
585,436 13
1,582.106 35

T o Bingham Branch L ow
Grade Line C on stru ction .
T o B e tte r m e n ts __________

490,065 62

68,464 98
95,370 51

A d d ed during y ea r____

973,810 81

608,295 54

T o Cost o f R oa d June 30
1906 _____ ______ __________ 103,723,289 25 13,484,649 39 117,207,938 6

SU M M ARY

OF

F IN A N C IA L

O P E R A T IO N S

OF T H E D E N V E R & R IO G R A N D E R A I L R O A D C O M P A N Y F R O M
JU N E 30 1905 T O JU N E 30 1906, O U T S ID E O F IT S IN C O M E
ACCOUNT.

Resources to be accounted for thus:
Decrease of Assets.

REPORT

OF

THE

COM PTROLLER.

The Denver & Rio Grande Railroad Co.
New York, August 17 1 9 0 6 .
Mr. E. T . Jeffery, President.
Dear Sir:— I b e g t o p r e s e n t h e r e w it h m y r e p o r t o f t h e
C o m p a n y ’ s f in a n c ia l c o n d i t i o n J u n e 3 0 1 9 0 6 , c o n s is t in g o f
t h e a d ju s t m e n t s m a d e in t h e G e n e r a l P r o f it a n d L o s s a n d
R e n e w a l F u n d A c c o u n t s d u r in g t h e f is c a l y e a r t h e n e n d e d ,
t o g e t h e r w it h C o m p a r a t iv e B a la n c e S h e e t , S u m m a r y o f its
fin a n c ia l o p e r a t io n s o u t s i d e o f it s I n c o m e A c c o u n t , b a s e d
o n s u c h c o m p a r i s o n , a n d T a b u la r S t a t e m e n t o f S e c u r it ie s
o w n e d b y th e C o m p a n y a t t h a t d a t e , a r r a n g e d in t h e o r d e r
nam ed.
In c o n j u n c t i o n w it h t h e B a la n c e S h e e t , a n d im m e ­
d ia t e ly f o l l o w i n g it , I h a v e in s e r t e d a s t a t e m e n t s h o w in g th e
a d ju s t m e n t s m a d e in t h e a c c o u n t o f " C o s t o f R o a d ” f o r th e
fis c a l y e a r e n d e d J u n e 3 0 1 9 0 6 .
A n n e x e d h e r e t o is t h e r e p o r t o f t h e G e n e r a l A u d i t o r , e x ­
h i b i t in g in d e t a il t h e E a r n in g s a n d E x p e n s e s , a n d o t h e r
s t a t is t ic a l in f o r m a t io n f r o m t h e r e c o r d s o f t h e C o m p a n y f o r
t h e s a m e p e r io d .
V e r y r e s p e c tfu lly ,
STEPH EN

E qu ipm en t..... ................................
C a s h ....... ............
Loans and Bills R e ce iv a b le _____ _________
U nited States G overn m en t_____________________________________
S u n d r ie s ___________
Cash (to be invested) Special R enew al F u n d _________________

$150,000
678,404
876,750
18,904
522
513

00
58
49
47
61
39

T otal Decrease o f A s s e t s ............................................................... .$1 ,7 2 5 ,0 9 5 52
Increase of Liabilities

D . Sc. R . G. R R . C o. Preferred Capital S to c k _________________ $112,700 00
R io G. W R y . Co. First Consol. M tge. 4 % B on d s____
400,000 00
V ouchers .................. .............
__
126 036 09
P a y -R olls............ ......................................................................................
105 421 96
D. & R . G. R R . Co. M tge. Bond C oupons due and unpaid . .
6.027 50
R i o G . W . R y Co. M tge. B ond C oupons accrued bu t not d u e ..
4.000 00
Utah Centra! R R . Co. Mtge. B onds C oupons due and u n p a id ..
380 00
E quipm ent Renewal F u n d ......................
28,191 14
Special E quipm ent F u n d ...
.
.
.
1 ,0 0 0 ,0 0 9 0 0
A ccrued Rental* o f Leased L ines____
.. ..
12,388 43
D ividends on Preferred Capital S to c k ..............................................
3,082 50
D ividends on Interim Certificates . .
363 32
Insurance collected ............
1,555 47
T otal Increase o f L iabilities............................................................. $1,800,149 41
Increase In Profit and Loss.

(A s p er C om parative Balance Sheet. )
B y Balance at Credit o f Profit and Loss. June 30
1906 ............................................................................. $3,307,992 48
By Balance at Credit o f P rofit and Loss June 30
1905 ............................................................................. 3.223.347 37

L IT T L E ,

Increase for the y e a r . . _______________________________________

Comptroller.

Grand T otal to be accoun ted fo r _____________________ ___ ..$ 3 ,6 0 9 ,8 9 0 04

84,645 II

570

THE CHRONICLE

fV O L . L X X X IH .

T h i s s u m is a c c o u n t e d f o r a s f o l l o w s :
C ost o f H oad
______________________________________________________
$1
M a t e r i a l s a n d S u p p l i e s __________________________ ___________________
I n d i v i d u a l s a n d C o m p a n i e s _____________________________________________
A g e n t s a n d C o n d u c t o r s _________ _______________________________________
T r a f f i c B a l a n c e s ____________________________________________________________
P u e b lo U . D . & R R . C o . S in k in g F u n d .
_____________________
R i o G . W . R y . C o . F i r s t C o n s o l . M t g e . 4 % B o n d s In T r e a s u r y
R i o G r a n d e S o u t h e r n R R . C o . C a p i t a l S t o c k ____________________
S p e c ia l
B u ild in g
F u n d ______ _________ ________________________________
B o c a & L o y a l to n R R . C o . a n d A s s o c ia t e d C o m p a n ie s C a p ita l
S t o c k ____________________________ _______ _____________ ________________
T o ta l In crea se o f A ssets.

,5 8 2 , 1 0 0
174 532
6 3 ,0 9 3
1 0 9 ,9 3 6
8 0 ,2 0 3
800
3 7 4 ,0 0 0
1 1 2 ,7 0 0
409

85
45
51
90
48
00
00
00
01

$ 3 ,2 9 5 ,2 0 4 49

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

C o . E q u i p m e n t 4 lA %

Bills p ayable

$ 1 5 0 ,0 0 0
1 2 4 ,2 0 0
2 ,5 2 0
3 3 ,2 1 8
4 ,2 3 3

__________________ _

R i o G . W . R y . C o . M t g e . B o n d C o u p o n s d u e a n d u n p a i d _____
I n s u r a n c e a n d o t h e r R e s e r v e F u n d s _______________________________
A c c r u e d T a x e s ___ _______ _ _____________________________________________
T o t a l D e c r e a s e o f L i a b i l i t i e s .................................. _ ........ ................... ........

Decrease in Renewal Fund.
(A s p e r C o m p a r a t iv e B a la n c e S h e e t .)
B y B a la n c e a t C r e d it o f R e n e w a l F u n d J u n e 30
1 9 0 5 _______ _________________________________________
_ $ 3 3 5 ,4 5 1 69
B y B a la n c e a t C r e d it o f R e n e w a l F u n d J u n e 30
1 9 0 0 ____________________________________________________
3 3 4 ,9 3 8 30

L

D e c r e a s e f o r t h e y e a r _______

5 1 3 39

G ra n d T o t a l a c c o u n t e d fo r .

$ 3 ,6 0 9 ,8 9 0 04

S E C U R IT IE S

No.

O W N E D

JU N E

Capital Stock in Treasury—

30

1906.

Face Value.

Book Value.
$

$

S h a re s R io G r a n d e W e s te r n R y . C o .,
c o m m o n ________________________________ ' 1 0 , 0 0 0 ,0 0 0
7 5 ,0 0 0 S h a r e s R i o G r a n d e W e s t e r n R y . C o .,
p r e f e r r e d _______________________________ 7 ,75 ,0500 0 , 0 0 0
31 5 8 2 % S h a r e s R i o G r a n d e S o u t h e r n R R . C o . , 3 , 1 5 8 , 2 3 7
1 2 ,2 1 1 V2 S h a r e s R i o G r a n d e J u n c t i o n R y . C o _ 1 , 2 2 1 , 1 5 0
^ 3 ,7 5 0 S h a re s R i o G r a n d e & S a n ta F e R R .
3 7 5 .0 0 0
t*
C o _________________________________________
[ 5 , 8 0 0 S h a r e s R i o G r a n d e R R . C o _____________
5 8 0 .0 0 0
k- 2 , 0 0 0 S h a r e s R i o
G ra n d e P a g osa & N orf
t h e m R R . C o ____________________________
2 0 0 ,0 0 0
( 3 0 , 0 0 0 S h a r e s G l o b e E x p r e s s C o ______________ 3 ,30 ,0000 0 , 0 0 0
6 ,2 0 0
, •
62 S h a re s D . & R . G . R R . C o ., p r e f_
i
5 1 0 S h a r e s D u c h e s n e R y . C o ___________
5 1 .0 0 0
3 3 .0 0 0
f
3 3 0 S h a r e s C a r b o n C o u n t y R y C o ___
81 l - 5 S h a r e s P u e b l o U n i o n D e p o t & R R . C o ►
8 ,1 2 0
5 0 0 . 0 0 0 vShares W e s t e r n P a c i f i c R y . C o ___
5 0 ,0 0 0 ,0 0 0

9 1 9 ,3 6 6 63
8 7 ,0 0 0 00

00
00
00

4 0 0 ,6 0 0 00
2 6 0 ,0 0 0 0 0
7 5 0 ,0 0 0 00

3 ,0 0 5 ,6 0 0 0 0

2 , 5 0 0 , 9 6 6 63

T o t a l v a l u e S e c u r i t i e s in T r e a s u r y . 8 0 , 6 4 2 , 8 0 7 5 0

2 5 , 0 2 4 , 4 8 0 63

260

R io G ra n d e S o u th e rn R R . C o. 4 %
B o n d s __________________________________
D e n v e r & R io G ra n d e R R . C o ., C o n ­
s o l. 4 % B o n d s , 131 o f $ 1 ,0 0 0 e a c h
a n d 3 2 o f $ 5 0 0 e a c h _________________
C a s h t o b e I n v e s t e d _____________________
T o t a l _____________________________________

2 0 ,7 5 0 ,0 0 0 00

00J
50
00

3 3 8 ,2 6 0 00
1 7 3 ,3 1 1 0 0

00
00

2 1 7 ,5 0 0 00
5 8 0 ,0 0 0 00

00
00
00
00
00
00
00

1 7 2 ,2 7 6
7 4 ,0 0 0
5 ,5 8 0
5 ,1 1 0
2 ,0 0 0
8 ,1 2 0

7 6 ,1 3 2 ,7 0 7 5 0
S e c u r itie s o f B o c a & L o y a lt o n R R .
C o . a n d A s s o c i a t e d C o m p a n i e s ___

61
00
00
20
00
00

2 2 , 3 2 6 , 1 5 7 81

1 ,5 0 4 ,5 0 0 00

7 9 7 , 3 6 2 19

6 7 ,0 0 0 00

6 7 ,0 0 0 00

1 6 ,5 0 0 0 0

1 6 ,5 0 0 0 0

500 00

500 00

Mortgage Bonds in Treasury—
D e n v e r & R io G ra n d e R R . C o ., C o n ­
s o l . 4 % __________________________________
33 D e n v e r & R io G ra n d e R R . C o ., I m ­
p r o v e m e n t 5 % _______________________
1 D e n v e r & R io G ra n d e R R . C o ., C o n ­
s o l . 4 V 2 % ________ __________________

2 0 6 ,0 0 0 00

1 7 2 ,9 0 0 0 0

1 4 7 ,0 0 0 0 0
2 1 ,7 2 4 55

1 4 0 ,3 1 3 7 5
2 1 ,7 2 4 55

4 3 4 ,7 2 4 55

3 3 4 ,9 3 8 30

Securities Deposited with Morton Trust Co., Trustee—
1 ,3 0 1

T in t ic R a n g e R y . C o ., 1st M tg e . 5 %
B o n d s __________________________________ 1 . 3 0 1 . 0 0 0
1 ,7 7 2 vSevier R y . C o . 1 s t M t g e . 5 % B o n d s . 1 . 7 7 2 . 0 0 0
9 1 0 S h a r e s C a s t le V a l l e y R y . C o . , C o m .
S t o c k ___________________________________
9 1 ,0 0 0
5 ,2 0 4 S h a r e s T i n t i c R a n g e R y . C o ., P r e f.
S t o c k _______________________________
5 2 0 .4 0 0
7 ,8 0 6 S h a r e s T i n t i c R a n g e R y . C o ., C o m .
S t o c k _________________________________
7 8 0 .6 0 0
6 ,1 9 6 S h a r e s S e v ie r R y . C o ., P r e f . S t o c k .
6 1 9 .6 0 0
9 ,2 9 4 S h a r e s S e v ie r R y . C o . , C o m . S t o c k . _
9 2 9 .4 0 0
2 .5 0 0 S h a r e s U t a h C e n t r a l R R . C o ., C o m .
S t o c k _______________________________
2 5 0 ,0 0 0
2 .5 0 0 S h a r e s U t a h E a s t e r n R y . C o . , C o m
S t o c k __________________________________
2 5 0 ,0 0 0
1 0 0 ,0 0 0 S h a r e s U t a h F u e l C o ., C o m . S t o c k . 1 0 ,0 0 0 ,0 0 0
1 0 ,0 0 0 S h a r e s C o p p e r B e l t R R . C o . , C o m .
S t o c k _______________________________
1 0 0 ,0 0 0

1 0 0 .0 0 0

00)

$

00
00

In Special Renewal Fund —

00
00
00
51
65

$ 3 1 4 ,1 7 2 16

$

T o t a l ----------------------------------------------------

163

B o n d s , S e r ie s “ A ” ___

(-1

1 ,4 1 1 R i o G r a n d e S o u t h e r n R R . C o , 4 % . . 1 , 4 1 1 , 0 0 0
1 R io G r a n d e G u n n is o n R y . C o . , 6 % _ _
1 0 0 ,0 0 0
4 0 0 0 -1 0 R i o G r a n d e W e s t e r n R y . C o . , C o n s o l
4 % ----------------------------------------------------------4 0 0 ,6 0 0
2 0 0 U t a h C e n t r a l R R . Co. , 4 % _____________
2 6 0 ,0 0 0
7 5 0 U t a h F u e l C o . , 5 % ______________________
7 5 0 ,0 0 0

7 9 7 ,3 6 2 19

Decrease of Liabilities.
D. & R . G. R R

B o o k V a lu e .

F a ce V a lu e.

H

Increase of Assets.

E A R N IN G S ,
FOR

TH E

1 ,3 6 0 ,6 8 2 5 6
6 4 2 ,3 9 5 7 2

00

9 1 ,0 0 0 00

00]
1 ,3 5 0 , 0 7 1 15
00J
00]
00/

1 2 1 ,1 0 0 09

00

2 ,7 4 5 7 2

00
00

68 37
6 ,0 0 0 ,0 0 0 0 0

00

2 0 0 ,0 0 0 00

1 6 ,6 1 4 ,0 0 0 0 0

9 ,7 6 8 ,0 6 3 52

9 7 ,6 9 1 ,5 3 2 05

3 5 .7 2 7 ,4 8 8 4 5

E X P E N SE S

A N D

F IS C A L

ENDED

YEAR

00
00

N ET

E A R N IN G S

JU N E

30

1906,

C o m p a r e d w ith Y e a r E n d e d J u n e 30 1 9 0 5 .

EarningsE x p r e s s , M a il a n d

Inc. ( + ) or
(— ) Dec.

1 9 0 5 -0 6 .
$ 1 3 , 9 4 3 , 5 5 6 31
4 , 6 0 9 , 4 2 8 12

1 9 0 4 -0 5 .
$ 1 1 , 9 3 2 , 4 1 9 62
4 , 0 3 9 , 4 1 8 13

+ $ 2 , 0 1 1 , 1 3 6 69

1 ,1 3 3 ,1 3 0 36

1 ,0 5 9 ,6 6 9 58

+ 7 3 ,4 6 0 78

$ 1 9 ,6 8 6 ,1 1 4 79

$ 1 7 ,0 3 1 ,5 0 7 33

+ $ 2 ,6 5 4 ,6 0 7 4 6

+ 5 7 0 ,0 0 9 99

M is c e l-

Expenses—
66
01
05
52
37

+ $ 3 5 0 ,4 4 4 2 3

$ 1 2 , 1 0 4 , 1 7 2 16

$ 1 0 , 1 6 8 , 9 6 0 61

+ $ 1 ,9 3 5 ,2 1 1 55

6 1 .4 9

5 9 .7 1

M a i n t e n a n c e o f W a y ________ $ 1 , 9 7 9 , 6 1 5
M a in te n a n c e o f S t r u c tu r e s _
4 3 5 ,7 3 6
M a i n t e n a n c e o f E q u i p m e n t; 2 , 5 6 6 , 4 1 0
C o n d u c t in g T r a n s p o r t a t io nl 6 ,6 2 1 ,9 8 6
5 0 0 ,4 2 2
G e n e r a l _________________________

89
82
53
32
60

$ 1 ,6 2 9 ,1 7 1
3 6 9 ,3 2 2
2 ,0 3 1 ,5 2 3
5 ,6 3 2 ,6 0 5
5 0 6 ,3 3 8

+ 6 6 ,4 1 4
+ 5 3 4 ,8 8 7
+ 9 8 9 ,3 8 0
— 5 ,9 1 5

81
48
80
77

67

IN C O M E

ACCO U N T

FO R

T H E

F IS C A L

P e r c e n ta g e o f O p e r a tio n

N e t E a r n i n g s ............... ................ $ 7 , 5 8 1 , 9 4 2 6 3

Y E A R S

E N D E D

JU N E

G ro s s E a r n in g s fr o m O p e r a tio n
O p e r a t i n g E x p e n s e s _______________

30

$ 6 ,8 6 2 ,5 4 6 7 2

1906

A N D

1905.

1 9 0 5 -6 .
$ 1 9 , 6 8 6 , 1 1 4 79
1 2 , 1 0 4 , 1 7 2 16

1 9 0 4 -5 .
$ 1 7 ,0 3 1 ,5 0 7 33
1 0 . 1 6 8 , 9 6 0 61

61 4 9

5 9 71

P e r C e n t o f G ro s s E a r n in g s

$ 7 ,5 8 1 ,9 4 2 63

N e t E a r n i n g s f r o m O p e r a t i o n __________________________________________
A d d I n c o m e fr o m I n te r e s t a n d D iv id e n d s o n S e c u r itie s O w n e d
I n t e r e s t , D i s c o u n t a n d E x c h a n g e ______________________________________

- { - $ 7 1 9 ,3 9 5 91

$ 1 6 7 ,8 0 7 8 8
9 4 , 3 1 6 97

$ 6 ,8 6 2 ,5 4 6 72
$ 1 3 0 ,6 1 8 62
6 1 ,5 1 5 06

2 6 2 ,1 2 4 85
$ 7 ,8 4 4 ,0 6 7 48

T o ta l N et In com e

1 9 2 , 1 3 3 68
$ 7 ,0 5 4 ,6 8 0 40

Less—
$ 3 ,1 9 1 ,9 0 6
6 8 0 ,2 1 6
5 7 ,2 8 5
2 0 2 ,1 8 4

In te re st on F u n d e d D e b t
T a x e s _______________________
I n s u r a n c e __________________
R e n ta l o f L e a se d L in e s .

50
34
86
94

4 .1 3 1 ,5 9 3 64

S u r p lu s f o r t h e Y e a r —
O u t o f w h i c h w e r e d e c la r e d t w o d iv id e n d s o f 2 + j % e a c h o n t h e P r e fe r r e d C a p ita l S t o c k _ $ 2 ,2 8 5 ,6 3 5 00
T h e r e w a s a l s o s e t a s i d e f o r R e n e w a l F u n d __________________________________________________________
1 2 0 ,0 0 0 00

$ 3 ,7 1 2 ,4 7 3 8 4

B a la n c e
A g a i n s t -w h ic h t h e r e w a s c h a r g e d o n a c c o u n t o f B e t t e r m e n t s ___________________________________
A n d a p p r o p r i a t i o n s f o r N e w E q u i p m e n t ___________________________________________________________

$ 1 ,3 0 6 ,8 3 8 8 4
$ 1 5 0 ,0 0 0 0 0
1 ,0 0 0 ,0 0 0 00

DENVER

D U R IN G

17
86
57
67

T H E

Y E A R

E N D E D

2 ,4 0 5 ,6 3 5 0 0

30

S u b s t i t u t i n g H e a v y f o r L i g h t R a i l ________________________________________________________________________________________________
R e c t i f y i n g G r a d e s a n d A l i g n m e n t ________________________________________________________________________________________________
W i d e n i n g G a u g e b e t w e e n G r a n d J u n c t i o n , M o n t r o s e a n d S o m e r s e t _____________________________________________________
B r i d g e s a n d C u l v e r t s _____________________________________________________________________________________ __________________________
S id in g s , S p u rs a n d Y a r d T r a c k s
_______________________________________________________________________________ _______________
N e w F r e i g h t a n d P a s s e n g e r D e p o t s , G r a n d J u n c t i o n _______________________________________________________________________
N e w E n g i n e h o u s e a t B u r n h a m _____________________________
__________________________________________________ $ 1 5 1 ,0 7 3 9 4
N e w E n g i n e h o u s e a t P u e b l o ____________________ ___ ___
. _ ________________________________ _____________
1 8 6 ,1 5 6 57

2 8 3 ,9 1 5 30
$ 2 7 8 ,5 3 6 8 3

1906.

Charged
Cost of Road.

Total.

RIO G R A N D E R A ILR O A D .

2 ,3 7 0 ,0 0 0 00
$ 5 6 2 ,4 5 2 13

$ 1 3 3 ,9 1 5 3 0
1 5 0 ,0 0 0 0 0

1 ,1 5 0 ,0 0 0 00

JU N E

4 , 1 2 2 , 2 2 8 27
$ 2 ,9 3 2 ,4 5 2 13

$ 2 ,2 5 0 ,0 0 0 0 0
1 2 0 ,0 0 0 00

$ 1 5 6 ,8 3 8 8 4

R e m a in in g S u r p lu s c a r r ie d t o t h e c r e d it o f P r o fit a n d L o s s

IM P R O V E M E N T S

$ 3 ,1 8 2 ,5 7 3
6 9 6 ,2 8 6
6 4 ,7 5 1
1 7 8 ,6 1 6

$ 1 2 0 ,6 4 5
7 3 ,3 2 0
3 3 ,5 6 0
5 4 ,5 1 9
7 3 ,3 3 2
6 0 ,1 4 2

42
14
65
02
51
96

1 8 7 ,2 3 0
5 9 .2 0 0
1 0 ,0 0 0
4 2 .4 5 1
1 4 ,9 0 2
5 4 .0 3 2

51
30
00
56
57
56

Charged
Operation
$ 1 2 0 ,6 4 5 4 2

$ 7 3 ,3 2 0 14
4 1 , 5 3 1 81
2 8 ,9 7 2 84
6 0 ,1 4 2 96

3 3 ,5 6 0 6 5
1 2 ,9 8 7 2 1
4 4 ,3 5 9 6 7

$ 3 3 7 ,2 3 0 51
L e s s A m o u n t C h a r g e d I n c o m e __________________________________________________
P u e b lo Y a r d R e a l E s t a t e __________________________ ____ _______ _ __________________
P u e b lo V i a d u c t ____________________ _______________________________________ ________________
S ta tio n s a n d O th e r B u ild in g s ______ __________________________________________________
S h o p M a c h in e r y a n d T o o l s ___________________________________________________________
^ q u i p p i n g N a r r o w -G a u g e C ars a n d L o c o m o t iv e s w ith A u t o m a t i c B r a k e s
T o t a l D . & R . G . R R ____________ ________________________________________________

1 5 0 , 0 0 0 00

$ 7 8 3 ,3 3 8 2 0

1 8 7 ,2 3 0
5 9 ,2 0 0
1 0 ,0 0 0
1 4 ,7 6 4
1 4 ,9 0 2

51
30
00
49
57

2 7 ,6 8 7 07
5 4 ,0 3 2 5 6

$ 4 9 0 ,0 6 5 62

$ 2 9 3 ,2 7 2 5 8

RIO G R A N D E W EST ER N R A I L W A Y .
S u b s t it u t in g H e a v y fo r L i g h t R a i l ----------------------------------------------------------------------------B rid g e s a n d C u lv e r t s . ________________________________________________________________
S id in g s , S p u r s a n d Y a r d T r a c k s ------------------- -------------------------------------------------------------S t a t i o n s a n d O th e r B u i ld in g s _________________________________________________________
S h o p M a c h in e r y a n d T o o l s ------------------------------------------------------------------------------------------O v e r h e a d C r o s s in g s ____________________________________________________________ _ _ _ _ _ _
T o t a l , R . G . W . R y ____________ __________ _____________________ __________________
G r a n d T o t a l ___

____________________________________________________________ _______ _ _ _ _

$ 2 7 0 ,5 1 4
5 ,7 6 4
4 7 ,3 9 8
5 8 .1 9 4
2 1 ,4 6 5
1 1 ,9 5 6

08
96
49
27
03
30

$ 2 7 0 ,5 1 4 0 8
$ 5 ,7 6 4
3 0 ,3 4 2
31 ,6 0 7
2 1 ,4 6 5
6 ,1 9 0

96
55
17
03
80

1 7 .0 5 5 9 4
2 6 , 5 8 7 10
5 , 7 6 5 50

$ 4 1 5 ,2 9 3 13

$ 9 5 , 3 7 0 51

$ 3 1 9 ,9 2 2 6 2

$ 1 , 1 9 8 ,6 3 1 33

$ 5 8 5 ,4 3 6 13

$ 6 1 3 ,1 9 5 20

S

e p t

. 8

THE CHRONICLE.

1 9 0 6 .J

C O N D E N SE D

B A LA N C E

SH E E T

Assets—

JU N E

30

1000.

Liabilities—

C o s t o f H o a d a n d S t r u c t u r e s ............................... ...
E q u i p m e n t _________________________________________
R e a l E s t a t e . C o l o r a d o ______________ _________
S p e c i a l B u ild in g : F u n d ...... ................ .........................
M a t e r ia ls a n d S u p p l i e s ____________
_________
S ta te a n d C o u n ty W a rra n ts
C a s h In T r e a s u r y .
. ______ ___ - - $ 1 ,0 1 6 ,5 2 9
C a sh S e t A s id e fo r P a y m ^ .t o f C o u p o n s
2 9 8 ,7 6 0
C a sh S et A s id e a s E q u ip m e n t F u n d .
1 4 0 ,2 8 0
C a s h S e t A s i d e f o r C o n s t r u c t i o n o f S p in t r a c k n e a r T o l u c a . C o l o , . ______ .
_
4 0 ,0 0 0

$ 1 1 7 ,2 0 7 .9 3 8
11 .2 8 4 .6 4 8
24 .8 8 7
10 ,6 8 3
1 .2 4 5 ,9 0 7
3 .33 1

64
93
26
39
57
97

42
00
90
00

L o a n s a n d B ills R e c e i v a b l e __________ ________
I n d i v i d u a l s a n d C o m p a n i e s . - ...............................
A g e n t s a n d C o n d u c t o r s ______ ______
___
U n i t e d S t a t e s G o v e r n m e n t ____________________
T r a t l l c B a l a n c e s _________________ ___ .
___
P u e b lo U n io n D e p o t & R R . C o . S in k in g
Fund

; > / 1

2 . 4 0 4 , .5 7 0 41
1 ,3 9 6 .6 4 0
1 .2 3 8 .9 8 3
3 2 7 ,7 2 4
6 9 .8 2 5
2 3 1 .7 2 1

________________________________________________

53
14
67
44
70

1 2 ,8 0 0 0 0

M o r t g a g e B o u d s in T r e a s u r y , a s p e r d e t a i l e d

statem ent __________________ _____ _____

2 ,5 0 0 ,9 6 6 63

S e c u r itie s D e p o s it e d w it h M o r t o n T r u s t C o . .
T r u s t e e , a s p e r d e t a i l e d s t a t e m e n t ________
I n v e s t m e n t s In C a p i t a l S t o c k s , a s p e r d e ­
t a i l e d s t a t e m e n t ______________________________
S p e c i a l R e n e w a l F u n d ____________________ ______

9 ,7 6 8 ,0 6 3 52
2 3 .1 2 3 .5 2 0 00
3 3 4 ,9 3 8 3 0

1 ). & R . G . H R , C o . C a p i t a l S t o c k , C o m
1 ). & R . G . H H . C o . C a p i t a l S t o c k , P r e f

$ 8 8 ,0 0 0 ,0 0 0 00
4 5 ,7 1 2 ,7 0 0 0 0

1). & K . G . R 1 L C o . F i r s t C o n s o l . M t g e . A %
____________ __________ _____
, ,$ 3 3 ,5 1 7 ,0 0 0
B onds
1) N R . G . U R , C o . I m p r o v e m e n t M t g e .
5 ° o B o n d s ______ — ....................................
.......
8 ,3 3 5 ,0 0 0
D . & R . G . R R . C o . F ir s t C o n s o l. M tg e .
4 H % B o n d s ___________________________________
6 ,3 8 2 ,5 0 0
D . & R . G . R R . C o . E q u i p m e n t A'/2 %
B o n d s . S e r ie s “ A ” _____________________________
1 .0 5 0 ,0 0 0

$ 6 8 ,7 1 2 ,7 0 0 00

00

00
00
00

G . W . R y . C o . F ir s t T r u s t M tg e . 4 %
________________________________ - $ 1 5 , 2 0 0 , 0 0 0 0 0
B onds
R . G . YV. R y . C o . F i r s t C o n s o l . M t g e . 4 %
B o n d s .................... .......................................................... 1 3 , 7 3 6 , 6 0 0 0 0

JO .2 8 4 ,5 0 0 0 0

R.

2 8 ,9 8 6 ,6 0 0 00
6 0 3 ,1 4 1 9 2
8 0 3 ,0 7 3 60

V o u c h e r s ......... .........................- ................ _ ......................
P a j R o lls
_______________________
ld iis p a j a b l e ____________ _ ___
D . & R . G . R R . C o . M tg e . B on d C o u p o n s
d u e a n d u n p a i d , I n c l u d i n g .J u ly 1 C o u p o n s
R . G . \V. R y . C o . M t g e . B o n d C o u p o n s d u e
a n d u n p a id , in c lu d in g J u ly 1 C o u p o n s
_
U ta h C e n tra l R R . C o . M tg e . B o n d C o u p o n s
d u e a n d u n p a i d _ _ ________________________

• .000 00
$ 8 5 2 ,1 2 1 2 5
3 1 1 ,3 2 0 00
580 00

& R . G . R R , C o. M tg e . B o n d C o u p o n s
a c c r u e d b u t n o t d u e __________________________
R . G . W . R y . C o. M tg e. B o n d C o u p o n s a c ­
c r u e d b u t n o t d u e _____________________________
R . G . W . R y . C o. M tg e . B o n d C o u p o n s a c ­
cru ed on u n ex ch a n g ed B on d s o f D . & R .
G . W . R y . C o ___________________________________
U t a h C e n tra l R R . C o . M tg e . B o n d C o u p o n s
a c c r u e d b u t n o t d u e _ ........... ................... ........

1 . 1 6 4 ,0 2 1 2 . 5

D.

$ 3 4 , 7 2 9 17
1 3 7 .3 6 6 00

2 0 0 00
1 7 8 ,7 9 5 17

6 ,5 0 0 00

1 ,0 0 0 ,0 0 0 00

S p e c i a l E q u i p m e n t F u n d _________
E q u ip m e n t R e n e w a l F u n d _
I n s u r a n c e F u n d ______________________
O g d e n G as P la n t In s u r a n c e F u n d

2 4 9 ,0 8 5 89
$ 8 4 , 2 2 3 16
1 2 ,1 9 2 0 8

A c c r u e d T a x e s __________________________________ _
A c c r u e d R e n t a l o f L e a s e d L i n e s ____________ _
D i v i d e n d s o n P r e f e r r e d C a p i t a l S t o c k _____
D i v i d e n d s o n I n t e r i m C e r t i f i c a t e s ____________
S c r i p D i v i d e n d N o . 2 a n d I n t e r e s t __________

9 6 .4 1 5 24
3 0 2 ,6 4 7 58
4 9 , 4 8 0 18

$ 1 ,1 4 3 ,7 8 2 50
1 ,2 8 6 9 1
3 8 91

1 ,1 4 5 ,1 0 8 32
1 3 ,6 6 1 17

In s u ra n c e C o lle c t e d
T o t a l L i a b i l i t i e s ________________________________
A c c o u n t s t o B a la n c e :
R e n e w a l F u n d ___ ________________ - _________
P r o f i t a n d L o s s _____________________________
T o ta l A ssets

C U R R E N T

$ 1 7 1 , 1 8 7 , 1 6 1 10

A SSETS A N D L IA B IL IT IE S
J U N E 30 1906.

L o a n s a n d B i lls R e c e i v a b l e ____________________
M a t e r i a l s a n d S u p p l i e s __________________________
A g e n t s ’ a n d C o n d u c t o r s ’ b a la n c e s d u e a n d
in t r a n s i t ________________________________________
U n i t e d S t a t e s G o v e r n m e n t ____________________
T r a f f i c B a l a n c e s ___________________________________
I n d i v i d u a l s a n d C o m p a n i e s ____________________
S t a t e a n d C o u n t y W a r r a n t s ____________________
P u e b lo U n io n D e p o t & R R . C o . S in k in g
F u n d _______________ _ _____________________________
M o r t g a g e B o n d s in T r e a s u r y :
R i o G r a n d e S o u t h e r n R R . C o . 4 % ________
R i o G r a n d e G u n n i s o n R y . C o . 6 % ________
D . <Sc R . G . R R . C o . C o n s . 4 % ______________
D . & R . G . R R . C o . I m p r o v e m e n t 5 % ___
D . & R . G . R R . C o . C o n s . 4 ^ % ___________
R i o G r a n d e V\7e s t e r n R y . C o n s . 4 % ______
U t a h C e n t r a l R R . C o . 4 % __________________
U t a h F u e l C o . 5 % _____________________________
S p e cia l R en ew a l F u n d i
R e p r e s e n tin g th e I n v e s tm e n t o f R e n e w a l
Fund—
D . & R . G . R R . C o . F ir s t C o n s . M tg e .
4 % B o n d s ___________________________________
R io G r a n d e S o u th e r n R R . C o . F ir s t M tg e
4 % B o n d s ___________________________________
C a s h ( t o b e i n v e s t e d ) _________________________

$ 2 , 4 0 4 , 5 7 0 41
1 , 3 9 6 , 6 4 9 53
1 , 2 4 5 , 9 0 7 57
3 2 7 ,7 2 4
6 9 ,8 2 5
231 ,7 2 1
1 ,2 3 8 ,9 8 3
3 ,3 3 1

67
44
70
14
97

1 2 ,8 0 0 00
$ 9 1 9 ,3 6 6
8 7 ,0 0 0
6 7 ,0 0 0
1 6 ,5 0 0
500
4 0 0 ,6 0 0
2 6 0 ,0 0 0
7 5 0 ,0 0 0

63
00
00
00
00
00
00
00

2 , 5 0 0 . 9 6 6 63

$ 1 4 0 , 3 1 3 75
1 7 2 ,9 0 0 00
2 1 , 7 2 4 55

T o t a l _________________________________

3 3 4 ,9 3 8 30
$ 9 ,7 6 7 ,4 1 9 36

Liabilities—
V o u c h e r s ----------------------------------------------------------------P a y -R o lls

$ 6 0 3 ,1 4 1 9 2
8 0 3 ,0 7 3 60

$ 1 ,4 0 6 ,2 1 5 52

B o n d C o u p o n s , In clu d in g th o s e d u e J u ly 1
1906:
D . & R . G . R R . C o ____________________________
R i o G r a n d e W e s t e r n R y . C o ________________
U t a h C e n t r a l R R . C o _________________________

$ 8 5 2 , 1 2 1 25
3 1 1 ,3 2 0 00
580 00

1 ,1 6 4 , 0 2 1 2 5

A c c r u e d I n t e r e s t D . <fc R . G . R R . C o . I m ­
p ro v e m e n t M ortga ge 5 % B on d s
A c c r u e d In te re st R . G . W . R y . <
t
C o n s o l . M o r t g a g e 4 % B o n d s ____
A c cr u e d In te re st D . & R . G . W . R y . C o.
M ortg a g e 6 % B o n d s, U n e x ch a n g e d
A c c r u e d In te r e s t U ta h C e n tra l R R . C o.
F i r s t M o r t g a g e 4% B o n d s ......... .............
B i l l s P a y a b l e ..................................... ..............................
A c c r u e d T a x e s ............................................. ...................
A c c r u e d R e n t a l o f L e a s e d L i n e s _____________
S p e c ia l E q u ip m e n t F u n d _ _ _ _ _ _
E q u i p m e n t R e n e w a l F u n d . IX & R . G . R R
E q u ip m e n t R e n e w a l F u n d , R . G . W . R y .
I n s u r a n c e F u n d . R . G . W . R y ______ ________
O g d e n G a s P l a n t I n s u r a n c e F u n d ___
D i v i d e n d s o n I n t e r l m C e r t i f i c a t e s ___
S c r ip D iv id e n d N o . 2 a n d In te re st
I n s u r a n c e C o l l e c t e d _____________________ _______

200 00
1 7 8 . 7 9 5 17
5 ,0 0 0
3 0 2 .6 4 7
4 9 .4 8 0
1 ,0 0 0 ,0 0 0

$ 8 4 .2 2 3 16
1 2 ,1 9 2 0 8
$1 .1 4 3 , 7 8 2 5 0
1 ,2 8 6 91
3 8 91

THE

F IS C A L

YEARS

ENDED

00
58
18
00

10

1 3 ,6 0 1

17

T o t a l C u r r e n t L i a b i l i t i e s ......................................
B a l a n c e . C u r r e n t A s s e t s In E x c e s s o f C u r
r e n t L i a b i l i t i e s _________________ ________________

$ 5 ,6 1 0 ,4 3 0 32

T o t a l ....................................... .. ...................................

$ 9 ,7 6 7 ,4 1 9 36

4 . 1 5 6 . 9 8 9 04

1006 A N D

$ 4 ,6 0 9 ,4 2 8
$ 7 3 5 ,9 5 4
1 .8 3 6 ,7 7 6
2 5 4 ,5 9 9 ,3 6 3
1 0 2 ,7 8 5
3 ,9 2 2 ,1 9 5
2 4 .9 1 2 ,1 8 9
4 .8 7 3 ,4 3 5
$1 .8 6 0
$297

12
16

89
12
$1 18
1 8 .7 6 cts.
1 .8 1 c t s .
64.91
6.3 5
1 .2 4
138.61

A N D

N ET

1905.

19 0 4 -1 9 0 5 .
2 ,4 2 0
$ 1 1 , 9 3 2 , 4 1 9 62
7 ,1 6 6 ,8 3 8
8 9 2 ,1 4 1 ,0 9 0
1 2 5 ,5 3 5 ,6 6 6
3 6 8 ,6 5 3
4 ,3 2 0 ,3 3 1
5 3 .2 5 4 ,9 4 1
2 7 ,4 2 5 ,5 7 6
8 0 ,6 8 0 ,5 1 7
5 5 1 5 ,4 7 0
$ 4 , 9 3 0 75
$2 7 6
1 4 . 7 9 CtS.
1 .3 4 cts.
2 0 6 .5 0
2 9 .0 6
2 3 5 .5 6
1 1 .0 6
1 6 .7 5
2 .3 6
19.11
18.67
1.2 8
1 2 4 .4 8

Average Miles
Operated.

1 8 9 5 -9 6 .-,
1 8 9 6 - 9 7 ___
1 8 9 7 -9 8 ._ _
1 8 9 8 -9 9 ,..
1 8 9 9 -1 9 0 0 ,
1 9 0 0 -1 9 0 1 .
1 9 0 1 -1 9 0 2 .
1 0 0 2 -1 9 0 3 .
1 9 0 3 -1 9 0 4 .
1 9 0 4 -1 9 0 5 1 9 0 5 -1 9 0 0

.2 . 1 8 1
-.2 ,2 1 2
- -2 ,2 3 2
-.2 ,2 5 4
2 .2 9 4
.2 ,3 3 0
.2 .3 4 7
. .2 ,3 7 8
_ .2 ,3 9 8
2 .4 2 0
- .2 .4 7 7

Expenses.

Earnings.
$ 1 0 ,0 0 8 ,5 4 4
9 ,4 1 3 ,6 1 8
11 , 7 0 5 , 2 1 3
1 2 ,6 2 3 ,2 3 5
1 4 ,7 5 6 ,6 8 3
1 6 .3 5 9 ,6 1 0
1 7 ,0 3 6 ,8 2 8
1 7 , 3 0 4 ,5 5 9
1 6 ,4 4 6 ,4 3 5
1 7 ,0 3 1 .5 0 7
1 9 , 6 8 6 ,1 1 4

90
77
82
56
16
34
48
86
10
33
79

$ 5 ,8 4 8 ,1 7 7
5 ,6 7 9 ,8 8 0
7 ,0 8 6 ,7 7 5
7 .7 9 4 ,8 7 5
9 .2 0 1 .8 4 8
1 0 ,3 4 7 ,1 3 6
1 0 , 3 3 1 ,5 4 2
1 0 ,6 2 9 ,8 5 0
1 0 ,0 5 8 ,4 4 3
1 0 ,1 6 8 ,9 6 0
1 2 . 1 0 4 ,1 7 2

$ 4 ,0 3 9 ,4 1 8
$ 7 2 5 ,5 5 4
1 ,5 0 4 ,3 2 9
2 1 1 ,1 1 6 ,5 7 8
8 7 ,2 3 8
3 ,7 4 7 ,9 3 7
2 3 .1 8 0 .6 2 3
4 .4 4 0 .6 2 1
$ 1 ,6 6 9
$299

13
89

18
82
$1 0 8
1 9 .3 6 cts.
1 .9 1 Cts.
5 6 .3 3
6 .1 8
1 .1 8
1 4 0 .3 4

E A R N IN G S .

(IN C L U D IN G R IO G R A N D E W E S T E R N
F r o m J u ly 1 1891 t o J u n e 30 1 9 9 6 .

06
90
70
46
56
51
43
38
78
61
16

R Y .)

Net Earnings .
$ 4 ,1 6 0 ,3 6 7
3 ,7 3 3 .7 3 7
4 ,6 1 8 .4 3 8
4 .8 2 8 .3 6 0
5 .5 5 4 .8 3 4
6 ,0 1 2 .4 7 3
6 .7 0 5 .2 8 6
6 .6 7 7 ,7 0 9
6 ,3 8 7 .5 9 1
6 .8 6 2 .5 4 6
7 .5 8 1 ,9 4 2

84
ft?
12
10
60
83
05
48
32
72
63

—

PER

1 ,1 4 5 , 1 0 8 3 2

30

Passenger—
______
P a s s e n g e r E a r n i n g s _________ _
M a ll a n d E x p r e s s E a r n i n g s __________________
R e v e n u e P a s s e n g e r s __________________________
P a s s e n g e r M i l e s ____ _______________
P a s s e n g e r M ile s p e r M ile o f R o a d
T r a i n M i l e s _____ _____________________
C a r M i l e s _________________________________________
E n g i n e M i l e s _____________________________________
P a s s e n g e r E a r n i n g s p e r M ile o f R o a d ______
M a ll a n d E x p r e s s E a r n s , p e r M ile o f R o a d
P a s s e n g e r E a r n i n g s p e r T r a i n M i l e _________
M a ll a n d E x p r e s s E a r n i n g s p e r T r a i n M ile
P a s s e n g e r E a r n i n g s p e r P a s s e n g e r M i l e ___
A v e ra g e R ev en u e P assen gers p er T r a in ._
C a r s p e r T r a i n ______ ________________
T r a i n E n g i n e s p e r T r a i n ___________
H a u l o f E a c h P a s s e n g e r (In M ile s )

2 4 9 ,0 8 5 89

9 6 . 4 1 5 24

JU N E

1 9 0 5 -1 9 0 6 .
2 ,4 7 7
A v e r a g e m ile s o f r o a d o p e r a t e d ____________
F r e ig h t E a r n in g s _______________________________
$ 1 3 , 9 4 3 , 5 5 6 31
R e v e n u e T o n s ___________________________________
8 ,5 3 9 , 4 7 1
R e v e n u e T o n M ile s _____________________________ 1 ,0 7 8 , 3 4 7 , 9 4 6
N o n -R e v e n u e T o n M i le s ______________________
1 5 6 ,7 4 6 ,6 7 0
R e v e n u e T o n M ile s p er M ile o f R o a d ______
4 3 5 ,3 4 4
R e v e n u e T r a in M ile s _
4 ,8 9 8 ,5 5 6
L o a d e d C ar M ile s _________________________1 ____
6 1 ,0 9 4 ,8 2 4
E m p t y C ar M ile s _______________________________
3 1 ,4 5 3 . 3 7 3
L o a d e d an d E m p t y C a r M i le s ________________
9 2 ,5 4 8 ,1 9 7
E n g in e M i le s ( E x c .S w it c h a n d W o r k T r a in )
6 ,3 2 8 , 7 1 6
E a r n in g s per M ile o f R o a d O p e r a t e d ______
$ 5 ,6 2 9 21
“ T r a in M i le ______________________
$2 85
“ C a r M i le _________________________
1 5 .0 7 c t s ,
“
“ T o n M i le _________________________
1 .2 9 c t s .
A v e r a g e R e v e n u e T o n s p er T r a i n ___________
2 2 0 .1 4
N o n -R e v e n u e T o n s p er T r a i n ___
3 2 .0 0
“
T o n s p er T r a i n _______________________
2 5 2 .1 4
R e v e n u e T o n s p e r C a r _____________
1 1 .6 5
“
p er L o a d e d C a r _
1 7 .6 5
N o n -R e v e n u e T o n s p er L o a d e d C a r
2 .5 7
T o n s p er L o a d e d C a r ______________
2 0 .2 2
C ars p er T r a i n _______________________
1 8 .8 9
1 .2 9
T r a in E n g in e s p er T r a i n ___________
H a u l o f ea ch R e v . T o n (in M ile s)
1 2 6 .2 8

Year.

1 3 7 ,3 6 6 00

$ 1 9 1 ,6 0 4 0 8
5 7 ,4 8 1 81

$ 1 7 1 ,1 8 7 ,1 6 1

E A R N IN G S , E X P E N S E S

$ 3 4 , 7 2 9 17

6 ,5 0 0 00

3 ,6 4 2 ,9 3 0 78

S T A T IS T IC S .

42
00
99
00

$ 3 3 4 ,9 3 8 3 0
3 .3 0 7 .9 9 2 4 8

T ota l

FOR

Assets—
C a s h in T r e a s u r y __________________________________ $ 1 , 9 1 6 , 5 2 9
C a s h s e t a s i d e f o r P a y m e n t o f C o u p o n s _____
2 9 8 ,7 6 0
C a s h s e t a s i d e a s E q u i p m e n t F u n d ___________
1 4 9 ,2 8 0
C a sh s e t a s id e f o r C o n s t r u c t io n o f S p u r
t r a c k n e a r T o l u c a , C o l o ______________________
4 0 ,0 0 0

$ 1 6 7 ,5 4 4 ,2 3 0 3 2

Year.
1 8 9 5 -9 6
1 8 9 6 -9 7 .
1 8 9 7 -9 8

A ter age M lies
Operated.

2 .1 8 1
2 .2 1 2
2 .2 3 2
1898 99
2 .2 5 4
1 8 9 9 -1 9 0 0 . . .2 ,2 9 4
1 9 0 0 -1 0 0 1 . -2 .3 3 0
1901 1 9 0 2 ,
2 .3 4 7
1902 1 9 0 3 .
2 .3 7 8
1 9 0 3 -1 9 0 4 .
2 .3 0 8
1 9 0 4 -1 9 0 5 _ . .2 .4 2 0
1905 -1 9 0 6 . ..2 ,4 7 7

M IL E

O P E R A T E D .

Earnings.

Expenses.

$4 .5 8 9
4 ,2 5 6
5 ,2 4 4
5 ,6 0 0
0 ,4 3 3
7 ,0 2 1
7 .2 5 9
7 .2 7 7
6 .8 5 8
7 ,0 3 8
7 ,9 4 8

$ 2 ,6 8 1
2 .5 0 8
3 ,1 7 5
3 ,4 5 8

00
00
00
00
00
00
00
00
00
00
00

00
00
00
00

4 . o n 00
4 .4 4 1
4 .4 0 2
4 .4 7 0
4 ,1 9 4
4 .2 0 2
4 ,8 8 7

00
00
00
00
00
0#

N et
E a r n in g s.
$1 .9 0 8 0 0
1 .6 8 8 0 0
2 ,0 6 9 00
2 ,1 4 2 00
2 .4 2 2 0 0
2 .5 8 0 0 0
2 .8 5 7 0 0
2 ,8 0 7 0 0
2 ,6 6 4 0 0
2 .8 3 6 0 0
3 .0 6 1 0 0

572

THE

C H R O N IC L E .

[V oL L m ni

NORFOLK & WESTERN RAILW AY COMPANY.
T E N T H A N N U A L R E P O R T — F O R T H E F IS C A L Y E A R E N D IN G
P h ila d e lp h ia , S e p t. 7 1906.
T o th e S t o c k h o l d e r s o f th e N o r f o l k & W e s t e r n R a i l w a y C o m p a n y :

Y o u r B o a r d o f D ir e c to r s s u b m its th e fo llo w in g r e p o r t of
th e o p e ra tio n s o f y o u r C o m p a n y fo r th e fiscal y e a r :
M IL E S

OF

ROAD

OPERATED.

T h e le n g th o f lin e o w n e d a t th e close o f th e fiscal y e a r w a s
1 ,8 6 0 .8 8 m ile s .
T o t a l o p e ra te d w a s 1 ,8 7 4 .8 6 , as fo llo w s :
B ra n ch es.
M ile s .

Lambert’s Point, Norfolk, to Columbus, Ohio---------------151.43
♦Big Sandy Low-Grade Line, Naugatuck to Kenova,
W. V a___________________________
59.16
Lynchburg to Durham__________
3.48
Roanoke to Hagerstown______________________________ 6.05
Roanoke to Winston-Salem___________________________
.20
Walton Junction to Bristol___________________________ 13.95
North Carolina Junction to Fries_______________________ 48.96
Graham to Norton___________________________________ 16.06
Vera Junction to Cincinnati and Ivorydale______________ 18.92
Columbus Connecting & Terminal Railroad..................... .......

M a in B in e.
M ile s .

703.76
115.43
238.11
121.30
110.75
43.49
100.40
105.92
3.51

JUNE

30T H

1906.

From this net Income for the year ending June 30th 1906___ $7,452,374 79
The following amounts have been deducted—
Payments to Pocahontas Coal & Coke Company
on account of deficiency of interest on Norfolk
& Western-Pocahontas Joint Bonds________ $188,000 00
Miscellaneous charges to income.
55,786 85
D iv id e n d s —
On adjustment preferred shares:
2% August 19th 1905_________ $459,822 00
2 % February 16th 1906_______
459,822 00
919,644 00
On common shares:
2% December 15th 1906______$1,289,384 00
2% June 15th 1906___________ 1,289,384 00
2,578,768 00
Appropriations for Betterments to Property__ 2,250,000 00
Appropriations for Acquiring Additional Equip­
ment _____________________________________
700,000 00
6,692,198 85
Amount carried to Profit and Loss for the year______________ $760,175 91
Amount to credit of Profit and Loss June 30th 1905_________ 3.201,928 03
Discount and commission on securities sold_________________

$3,962,103 94
161,250 00

318.21
1,542.67
__________ 318.21

Balance to credit of Profit and Loss June 30th 1906_________ $3,800,853 94

Total lines owned___________________________ __________________ 1,860.88

T h e g ro ss e arn in gs w ere $ 1 5 ,3 7 4 a n d th e n e t e arn in gs
$ 6 ,1 6 5 per m ile o f ro a d o p e r a te d .
T h e o p e ra tin g e x p e n se s w ere 5 9 .9 0 p e r cen t o f th e g ro ss
e a r n in g s, as a g a in s t 6 0 .6 7 p e r c e n t in th e p reced in g y e a r .
T h e ta x e s p a id in th e y e a r w ere 2 .5 8 p e r cen t o f th e g ro ss
e a r n in g s .

Branches

T r a c k s o f o th e r C o m p a n i e s u s e d j o i n t l y u n d e r tr a c k a g e
r ig h t s —
M ile s .

Southern Railway, at Durham, N. C------------------------------- 0.43
Cumberland Valley R R ., at Hagerstown, Md_____________ 0.63
Cincinnati Lebanon & Northern R y., at Cincinnati, O___ 3.62
Pittsb. Cln. Chic. & St. Louis R y ., at Cincinnati, O___ 9.00
Baltimore & Ohio and Pittsburgh Cincinnati Chicago & St.
Louis R y ., at Columbus, O___________________________ 0.30
----

13.98

Grand total operated------------------------------- -----------------------------1,874.86
S econ d T ra ck —

Lambert’s Point to Norfolk_____________________________________
Norfolk & Southern Junction____________________________________
Lynchburg— East and West o f___________________________________
Mont vale to Radford____________________________________________
Walton to Ripplemead (Sections)________________________________
Pearisburg to Vivian____________________________________________
Welch to D avy----- ---------------------------------------------------------------------Lick Fork to Naugatuck-----------------------------------------------------------Ironton— East and West o f_____________________________________
Sciotoville to Davis____________________________________

4.16
1.78
2.09
60.72
9.12
59.25
5.74
27.87
3.44
11.63

Total second track_____________________________________________ 185.80
S idin gs________________________________________________________ 790.86
T h e a v e ra g e m ile a g e o p e r a te d du rin g th e y e a r -was 1 ,8 5 3 ,
as a g a in st 1 ,7 9 9 d u rin g th e p r ec ed in g y e a r .

♦The Big Sandy Low-Grade Line and the old road between Naugatuck
.and Kenova are operated as double track.
GENERAL
E a rn in g s—

From
“
“
“
“

IN C O M E

1906.
passengers.._________$3,598,557
freight_____ _______ 24,111,800
m a il.______________
264,576
express____________
364,579
miscellaneous______
148,251

60
91
25
10
77

ACCOUNT.

1905.
$3,158,772
20,249,399
224,137
318,613
138,336

66
00
37
77
99

(+ ) or
(—).
+$439,784 94
+3,862,401 91
+40,438 88
+45,965 33
+9,914 78

In crease
D ecrea se

Total Earnings__________ $28,487,765 63 $24,089,259 79 + $4,398,505 84
E xp en ses—
Maint. of way and struc.__ $3,439,797 14 $3,095,910 25
+ $343,886 89
3,917,268 13
Maintenance of equipment. 4,749,832 42
+ 832,564 29
7,136,484 06 + 1,218,889 13
Conducting transportation 8,355,373 19
464,771 76
General expenses_________
519,62107
+ 54,849 31
Operating E xp en ses____ .$17,064,623 82 $14,614,434 20 + $2,450,189 62
Net Earnings _____ __ ..-$11,423,141 81
To which add—
Interest, General Account.
$113,090 59
52,254 08
Rents _____ _____
_
$165,344 67
Total Income_____________ $11,588,486 48
F r o m w h ic h d e d u ct —
Interest on funded debt__ $3,069,146 66
Interest on Equipment
Trust obligations_______
316,641 67
T a x e s ___________________
735,000 00
Rents of tracks, yards, etc.
15,323 39
Net Income

$9,474,825 59 + $1,948,316 22
64,924 57
54,304 22

+ 48,166 20
— 2,050 14

$119,228 79

+ $46,115 88

$9,594,054 38 + $1,994,432 10
$2,862,933 33

+ 206,213 33

226,666 67
671,000 00

+ 89,975 00
+ 64,000 00
+ 15,323 39

$4,136,111 72

$3,760,600 00

+ $375,511 72

$7,452,374 76

$5,833,454 38 +$1,618,920 3S

C A P IT A L

T h e c a p ita l sto c k a u th o r ize d a n d o u ts ta n d in g co n sists o f — ■

660.000 shares of common stock__ _______________________ $66,000,000 00
230.000 shares of adjustment preferred stock______________ 23,000,000 00
T o ta l.______________________ ____________ ____ ___________$89,000,000 00
o f w h ich th ere w a s in th e tr e a su r y o f th e C o m p a n y a t th e
close o f th e fiscal y e a r , 8 9 sh a res o f a d ju s tm e n t p refe rre d
sto c k a n d 1 5 ,3 0 8 sh ares o f c o m m o n s to c k .
FUNDED

S e r ie s .

March 1 1902

1902

April

1 1903

A.

June
April

1 1903
3 1905

B.
C.

Nov.

3 1905

D.

Dec.

4 1905

E.

Feb.

3 1906

F.

i'

Totals

D e s c r ip tio n o f E q u ip m e n t.

53 locom otiv es ___ ________________ )
3,500 gondola cars___________________
1.000 box c a r s ______________________
500 flat cars_______________________
25 passenger coaches_____________
2 baggage and mail cars__________
4 express cars_____________________ j
I

500 steel coke cars___________________]
74 locom otives_____________________
17 locom otives_____________________ 1
2.000 gondola cars_____________________ j
9 locom otives_____________________ ]
1.000 gondola cars_____________________ j
5 locom otives_____________________ )
500 box c a r s _____ :___________________ |
300 hopper cars______________________ y
175 steel coke cars________ 1 _________J
9 locom otiv es__________ - ________ )
500 hopper cars______________________ [
325 steel coke cars___________________J
192 locom otives___________________
10,300 freight cars____________________
31 passenger ca rs ________________

DEBT.

T h e a g g reg a te fu n d e d d e b t o u ts ta n d in g o n Ju ne 3 0 t h 1 9 0 6
w as $ 7 1 ,2 8 9 ,5 0 0 , o f w h ich $ 1 3 ,0 0 0 wras h e ld in th e tr e a su ry
o f th e C o m p a n y .
T h e $ 2 ,0 0 0 ,0 0 0 D iv is io n a l F ir s t L ie n a n d G en eral M o r t­
g a g e b o n d s referred to in th e p re v io u s a n n u a l r e p o rt as b e in g
h e ld b y th e T r u s te e o f th e m o r tg a g e s u b je c t to y o u r C o m ­
p a n y 's c a ll, a n d $ 1 ,0 0 0 ,0 0 0 a d d itio n a l o f th e b o n d s secu red
b y th is m o r tg a g e , h a v e b e e n so ld .
T h e p ro ce ed s o f th is sale
w ere a p p lie d to re im b u rse th e C o m p a n y fo r c a p ita l e x p e n d i­
tu res p r e v io u s ly m a d e .
$ 1 1 ,0 0 0 ,0 0 0 o f th e se b o n d s h a d b e e n
issu e d a t th e close o f th e fiscal y e a r .
E Q U IP M E N T

TRU ST

C E R T IF IC A T E S .

P ro v isio n fo r a d d itio n a l e q u ip m e n t Avas m a d e b y th e issue
a n d sale o f th ree n e w series, “ T>” “ W ’ a n d “ F , ” o f fo u r per
c en t E q u ip m e n t T r u s t c ertifica tes fo r $ 1 ,0 0 0 ,0 0 0 e a c h .
The
certificates in e a c h series are p a y a b le in te n a n n u a l in s ta l­
m e n ts of $ 1 0 0 ,0 0 0 .
T h e e q u ip m e n t secu rin g th e se certifica tes is sh o w n in d e ­
ta il b e lo w in th e s ta te m e n t o f o u ts ta n d in g E q u ip m e n t T ru st
c ertifica tes.
T h e la rg er p a r t o f th is e q u ip m e n t h a d b e e n
d e liv ere d a t th e close o f th e fiscal y e a r .
A ll of th e e q u ip m e n t fo r m in g th e s e c u rity o f E q u ip m e n t
T r u s t , Series “ C ” w a s d e liv ere d d u rin g th e fiscal y e a r ju s t
clo se d .
T h e s ta te m e n t o n p a g e s 56 a n d 57 of p a m p h le t re p o rt
sh o w s th e T r u s t e q u ip m e n t in serv ice u n d e r e ach T r u s t .
In c lu d e d in th is s ta te m e n t are 21 lo c o m o tiv e s u n d er E q u ip ­
m e n t T r u s t , Series “ G . ”
(See also a fo llo w in g p a g e .)
The
a g re e m e n t secu rin g th e issu e o f Series “ G ” certifica tes "was
e x e c u te d u n d er d a te o f M a y 3 d 1 9 0 6 , b u t th e certifica tes
w ere n o t so ld u n til a fte r th e close o f th e fiscal y e a r .

STATEMENT OF EQUIPMENT TRUST CERTIFICATES

D a te of
A g reem en t.

STOCK.

T o ta l V a l u e o f
E q u ip m en t.

JUNE 30 1906.

T r u s t C e r t i f i ­ P a y a b l e i n f i s c a l y e a r e n d in g
c a te s O u t­
J u n e 30 1907.
T r u s t C e r t i f i­
s ta n d in g
c a te s P a i d to
D a te.
A m o u n t.
J u n e 30 1906 J u n e 30 1906

D a te o f
F in a l P a y ­
m e n t.

Sept.

1 1906

$500,000 Sept.

1 1911

Jan.

1 1907

100,000 Jan.

1 1913

$5,000,478 00

$500,000

$3,000,000

1,234,499 31

200,000

800,000

1,176,085 50
2,024,082 92

200,000
200,000

800,000
1,800,000

March 1 1907
April 1 1907

100,000
200,000

1,023,407 00

1,000,000

Nov.

1 1906

100,000 Nov.

1 1915

1,027,055 40

1,000,000

Dec.

1 1906

100,000

Dec.

1 1915

1,028,879 00

1,000,000

Feb.

1 1907

100,000

Feb.

1 1916

$12,514,487 13

$1,100,000

$9,400,000

$1,200,000

March 1 1913
April 1 1915

Sept. 8 1906.]

573

T H E CHRONICLE

C O N S T R U C T IO N , E Q U IP M E N T A N D

BETTERM EN TS.

T h e f o l l o w i n g t a b l e , s u m m a r iz in g t h e e x p e n d i t u r e s f o r
C o n s t r u c t i o n , E q u i p m e n t a n d B e t t e r m e n t f o r th e y e a r ,
e v id e n c e s th e a c t i v e p r o s e c u t i o n o f w o r k u p o n n e w lin e s
u n d e r c o n s t r u c t i o n a n d u p o n t h e a d d it i o n s a n d i m p r o v e ­
m e n t s n e c e s s a r y t o c a r e f o r t h e b u s in e s s o f f e r i n g t o y o u r C o m ­
p a n y a n d t o in c r e a s e it s n e t e a r n in g s b y r e d u c i n g t h e c o s t
o f o p e r a t io n a n d m a i n t e n a n c e t o a m i n im u m .
Charged against Charged against
Property
Betterment
Account.
Fund.

Real estate___________________
$200 00
Stations, buildings andshops
326,905 49
Coal, water and sand supply
plants..................... - ................
S0.1S4 73
Branches and extensions____
364,103 62
Second track (Including tun­
neling) ____________________ 1,391,784 40
F encing..................................................................
B allasting_______________ ________ __________
Lining tunnels__________________________
Sidings, passing sidings and
y a r d s _____________________ 1.117,053 S2
Replacing bridges and trestles _______________
Improving alignment
and
g r a d e _____________________
2,550 00
Sundries ____________________
19.973 96

T h e I n t e r io r & W e s t V i r g in ia R a i l r o a d C o m p a n y is a u t h o r ­
iz e d t o c o n s t r u c t a lin e f r o m th e t e r m in u s o f s u c h a n e x t e n s io n
o f th e B ig S t o n y R a i l w a y , t h r o u g h M o n r o e C o u n t y , W . V a . ,
t o th e V ir g in ia S t a t e lin e , 1 7 .5 5 m ile s .
T h e V ir g in ia & P o t t s C r e e k R a i l r o a d C o m p a n y is a u t h o r ­
iz e d t o c o n s t r u c t a lin e f r o m t h e t e r m in u s o f t h e I n t e r io r &
W e s t V ir g in ia R a i l r o a d , d o w n th e v a l l e y o f P o t t s C r e e k
t h r o u g h C r a ig C o u n t y , V a ., t o P o t t s C r e e k P o s t O ffic e in
A l le g h a n y C o u n t y , V a . , 1 1 .1 5 m ile s .
BIG C R E E K BR A N CH .

T o t a l.

$200 00

-----------------$258,045 45

5S4.950 94

155.674 22
29,569 54

235,858 95
393,673 16

1,217,463 SS 2 ,6 0 9 ,24S
18.564
18.564 33
26,797 29
26,797
34,11934,119
99

28
33
29
99

50,314 49 1 ,167,36S 31
4S4.094 59
484,094 59
3.47S 35
90,843 35

92835
70.S69 39

$3,302,756 02
Rolllng'stock charged against
Fund lor Acquiring Addi­
tional Equipment......................................... -

$2,346,441 52
276,964 53

276,964 53

Total_______________________ $3,302,756 02

S2.623.406 05

$5,926,162 07

$5,649,197 54

A d v a n c e s f o r c o n s t r u c t i o n p u r p o s e s w e r e m a d e a s f o llo w s :
Iaeger & Southern Railway----------------------- ------------- -----------------Pocahontas & Western Railroad______________________________
West Virginia Southwestern Railway_________________________
Guyandot & Tug River Railroad,_____ _______________________
Big Stony Railway_____________________________________________
Blackstone & Lunenburg Railroad___________ ________________

$938,913
102,677
148,75S
49,825
11,743
21,825

44
44
OS
45
99
16

T h is b r a n c h f r o m n e a r R i c h l a n d s , V a . , h a s b e e n e x t e n d e d
1 .1 8 m ile s t o n e w c o a l o p e r a t io n s .
I t s le n g t h is n o w 7 .0 8
m ile s .
LICK F O R K BR A N CH .

T h is b r a n c h , 0 .9 2 m ile s lo n g f r o m a p o i n t e a s t o f T h a c k e r ,
t o t h e o p e r a t io n o f t h e R e d J a c k e t C o n s o l id a t e d C o a l C o m ­
p a n y , w a s a c q u ir e d b y y o u r C o m p a n y a n d h a s b e e n e x t e n d e d
t o th e o p e r a t io n o f t h e T h a c k e r F u e l C o m p a n y .
Its p resen t
le n g t h is 2 .7 9 m ile s .
POCAHONTAS & W E S T E R N R A IL R O A D .

T h e c o n s t r u c t io n o f 3 .7 m ile s o f t h e P o c a h o n t a s & W e s t e r n
R a ilr o a d f r o m P o c a h o n t a s , V a . , u p L a u r e l C r e e k t o t h e
B o is s e v a in O p e r a t io n o f t h e P o c a h o n t a s C o llie r ie s C o m p a n y
h a s b e e n u n d e r t a k e n , a n d w ill b e c o m p l e t e d d u r in g t h e fa ll
o f 1906.
T h e c o n s t r u c t i o n o f 4 .5 m ile s m o r e o f t h is r o a d
w ill b e n e c e s s a r y in t h e n e a r f u t u r e t o r e a c h a s e c o n d c o a l
a n d c o k e o p e r a t io n .
T h e e x p e n d i t u r e o n t h is lin e t o J u n e 3 0 t h 1 9 0 6 w a s $ 1 0 2 ,677 44.
C LE AR F O R K BR A N CH .

S I,273,743 56

Y o u r C o m p a n y c o n t in u e s it s p o l i c y o f m a k in g y e a r l y a p ­
p r o p r i a t i o n s f r o m S u r p lu s I n c o m e t o m e e t t h e c o s t o f e x ­
t r a o r d in a r y r e p la c e m e n t s , r e n e w a ls a n d b e t t e r m e n t s t o y o u r
p r o p e r t y r e q u ir e d t o m a in t a i n it s e a r n in g c a p a c i t y a n d t o
o ffs e t n a t u r a l d e p r e c i a t i o n .
T h e se e x p e n d itu r e s are n o t
c h a r g e a b le t o C a p it a l a n d t h e y a r e n o t in c l u d e d in o r d in a r y
O p e r a t in g E x p e n s e s , b e c a u s e t h e l a t t e r a r e i n t e n d e d t o s h o w
t h e c u r r e n t w o r k in g c o s t , t h e r a t i o s o f w h i c h t o t h e g r o s s
e a r n in g s f r o m m o n t h t o m o n t h a n d f r o m y e a r t o y e a r f u r ­
n is h d a t a f o r c o m p a r is o n s o f g r e a t p r a c t i c a l v a lu e .
The Betterment Fund created out of Surplus Income had to
Its credit June 30 1905_______________________________________ $3,245,212 52
There was credited to this Fund out of the Surplus Income of
the year ending June 30 1906_________ _____________________ _ 2,250,000 00
$5,495,212 52
Charged against Betterment Fund during the year____________ 2,346,441 52
Balance to credit of Fund June 30 1906________________________ $3,148,771 00

T h ro u g h th e F u n d fo r A c q u ir in g A d d it io n a l E q u ip m e n t
t h e C o m p a n y a c q u i r e d § 2 7 6 ,9 6 4 53 o f n e w E q u i p m e n t ,
a n d c h a r g e d o f f § 9 0 0 ,0 0 0 o f m a t u r e d E q u i p m e n t T r u s t
p r in c ip a l.
BRANCHES

AND

E X T E N S IO N S ,

B L A C K ST O XE & L U N E N B U R G R A IL R O A D .

A c o n t r o ll in g in t e r e s t in t h e c a p i t a l s t o c k o f t h e B l a c k s t o n e
A L u n e n b u r g R a ilr o a d C o m p a n y h as b e e n a c q u ir e d .
T h is
C o m p a n y ’ s lin e is b e i n g c o m p l e t e d s o u t h w a r d f r o m B l a c k ­
s t o n e , Y a . , a d is t a n c e o f 5 .7 5 m ile s , t o l u m b e r m ills o n t h e
s o u t h s i d e o f N o t t o w a y R i v e r , a n d w ill b e r e a d y f o r o p e r a t io n
in O c t o b e r 1 9 0 6 .
FO R EST AN D CONCORD BR A N CH E S.

T h e t w o L o w - G r a d e L in e s , k n o w n a s t h e F o r e s t B r a n c h
a n d th e C o n c o r d B r a n c h , are u n d e r c o n s t r u c t io n , th e fo r m e r
w e s t w a r d f r o m a p o i n t o n t h e D u r h a m L i n e , 0 .8 o f a m ile
f r o m T w e lf t h S t r e e t S t a t i o n , L y n c h b u r g , t o F o r e s t , a d i s ­
t a n c e o f 7 .6 0 m ile s , a n d t h e la t t e r e a s t w a r d f r o m t h e s a m e
p o i n t t o a p o i n t o n t h e M a in L in e n e a r C o n c o r d , a d is t a n c e
o f 1 4 .5 2 m ile s .
T h e s e b r a n c h e s h a v e b e e n l o c a t e d w it h a
m a x i m u m g r a d e a g a in s t e a s t b o u n d tr a ffic o f 0 .5 p e r c e n t
a n d a m a x im u m c u r v a tu r e o f fo u r d e g re e s.
T h e y w ill a ffo r d
t r a n s p o r t a t i o n fa c ili t ie s t o lo c a l e n t e r p r is e s a n d fu r t h e r
t h e ir d e v e l o p m e n t , a n d b y t h e ir u s e t h e h e a v y g r a d e s a g a in s t
e a s t b o u n d tr a ffic o f t h e p r e s e n t M a in L in e b e t w e e n C o n c o r d
a n d F o r e s t w ill b e a v o i d e d a f t e r t h e s u m m e r o f 1 9 0 7 .
R ig h t
o f w a y f o r th e s e b r a n c h e s , w it h a f e w e x c e p t i o n s , h a s b e e n
s e c u r e d , c o n t r a c t s h a v e b e e n a w a r d e d f o r a s i n g le - t r a c k
r o a d , w it h m a s o n r y f o r f u t u r e d o u b l e - t r a c k i n g , a n d t h e c o n ­
tr a c to r s are n o w a t w o r k .
S P E E D W E L L E X T E N S IO N .

T h e a d d it i o n o f 5 .2 8 m ile s t o t h is b r a n c h o f t h e N o r t h
C a r o lin a E x t e n s i o n , w h ic h w a s a u t h o r iz e d a n d c o m m e n c e d
la s t y e a r , h a s b e e n c o m p l e t e d a n d p u t i n t o o p e r a t i o n .
The
S p e e d w e ll E x t e n s i o n is n o w 1 6 .4 4 m ile s in le n g t h , f r o m
I v a n h o e , V a . , a n d r e a c h e s la r g e ir o n o r e d e p o s it s in t h e v i c i n ­
i t y o f S p e e d w e ll in a d d i t i o n t o t h o s e n e a r C r ip p le C r e e k .
BIG ST O N Y R A IL W A Y .

T h is r o a d , 1 0 .6 8 m ile s l o n g , f r o m n e a r R i p p l e m c a d , V a . ,
t o I n t e r i o r , V a . , is o p e r a t e d in d e p e n d e n t l y b y t h e B ig S t o n y
R a ilw a y C o m p a n y .
A n e x t e n s io n o f t h is lin e f r o m I n t e r i o r , V a . , t o th e W e s t
V ir g in ia S t a t e L in e , 6 .2 5 m ile s , a n d t h e c o n s t r u c t i o n o f th e
lin e s o f t h e I n t e r io r & W e s t V ir g in ia R a i l r o a d C o m p a n y
a n d t h e V ir g in ia & P o t t s C r e e k R a i l r o a d C o m p a n y w o u ld
r e a c h e x t e n s iv e o r e d e p o s it s in P o t t s C r e e k V a l l e y , a n d
t h e r e b y w o u l d a s s u re a n ir o n o r e s u p p l y f o r t h e V ir g in ia
fu r n a c e s o n y o u r lin e .

T h is lin e s o u t h w a r d f r o m G o r d o n , W . V a . , h a s b e e n e x ­
t e n d e d 1 .2 7 m ile s t o a d d i t i o n a l c o a l o p e r a t i o n s .
I t s le n g t h
is n o w 1 1 .2 0 m ile s .
G U Y A N D O T & TUG R IV E R R A IL R O A D .

T h e fin a l r e v is io n s in t h e l o c a t i o n o f t h is lin e h a v e b e e n
c o m p l e t e d f r o m t h e m o u t h o f P in n a c le C r e e k o n G u y a n d o t
R i v e r t o t h e m o u t h o f G i lb e r t C r e e k o n G u y a n d o t R i v e r ,
a n d t h e n c e t o t h e w e s t e r n t e r m in u s o f t h e lin e a t W h a r n c l i f f e ,
W . Va.
M u c h o f t h e r ig h t o f w a y h a s b e e n s e c u r e d a l o n g
t h e fin a l l o c a t i o n .
IA E G E R & S O U T H E R N R A IL W A Y .

P u r s u a n t t o a u t h o r i t y g i v e n a t t h e a n n u a l m e e t in g o f t h e
s t o c k h o ld e r s , h e ld O c t o b e r 8 t h 1 9 0 3 , t h e r a i l r o a d , p r o p e r t y
a n d fr a n c h is e s o f t h e I a e g e r & S o u t h e r n R a i l w a y C o m p a n y
h a v e b e e n c o n v e y e d t o y o u r C o m p a n y , a n d t h e r a ilr o a d is
n o w b e in g o p e r a te d as th e D r y F o r k B r a n c h .
T h is lin e w a s e x t e n d e d 2 3 .2 1 m ile s u p D r y F o r k d u r in g
t h e y e a r , a n d h a s a t o t a l le n g t h o f 2 8 .1 1 m ile s .
I t w as p u t
i n t o r e g u la r o p e r a t io n t o t h e p r e s e n t t e r m i n u s , B e r w in d ,
o n A p r il 2 d , 1 9 0 6 . . A f u r t h e r e x t e n s io n o f t h e lin e u p D r y
F o r k to th e u p p e r p la n t o f th e N e w R iv e r & P o c a h o n t a s
C o n s o lid a t e d C o a l C o m p a n y , t o g e t h e r w i t h y a r d f a c ili t ie s
o n t h e lo w e r p a r t o f t h e lin e , is s t ill in p r o g r e s s .
T h e c o a l c o m p a n y is m a k in g s h ip m e n t s o f c o a l o v e r t h is
b r a n c h a n d is c o n s t r u c t i n g c o k e o v e n s , w it h s id in g s t h e r e t o .
T h e c o s t o f t h is lin e t o J u n e 3 0 t h 1 9 0 6 w a s § 1 , 4 9 9 , 0 1 9 8 6 .
BIG S A N D Y L O W -G R A D E L IN E .

T h e p e r m a n e n t a r c h in g o f t u n n e ls a n d t h e c o n s t r u c t i o n o f
s t o n e a r c h m a s o n r y h a s b e e n f in is h e d , a n d m o s t o f t h e h e a v y
s lid e s h a v e b e e n r e m o v e d .
M A IN T E N A N C E

OF

E Q U IP M E N T .

Y o u r C o m p a n y ’ s e q u i p m e n t is c o n t i n u o u s l y m a in t a i n e d
a t a h ig h s t a n d a r d .
T h e c o s t o f m a in te n a n ce w a s § 4 ,7 4 9 ,8 3 2 4 2 , a n in c r e a s e o v e r t h e p r e c e d i n g y e a r o f § 8 3 2 ,5 6 4 2 9 .
T h is i n c l u d e d § 6 7 9 ,1 1 1 f o r r e p la c in g e q u i p m e n t d e s t r o y e d
o r r e t ir e d f r o m s e r v ic e a n d $ 3 2 5 ,0 0 0 c r e d i t e d t o t h e F u n d
f o r A c q u ir in g A d d i t i o n a l e q u i p m e n t .
A d d i t i o n s t o t h e m a c h in e r y o f t h e v a r i o u s s h o p s h a v e b e e n
m a d e a t a c o s t a p p r o x i m a t e l y a s f o llo w s :
Roanoke Shops______________________________________ _______________$46,086
Bluefield Shops____________________ _____________ . ___
______ 11,232
Portsmouth Shops_____________________ ___________
______ ______ 23,531
Outlying Shops____________________
_ _
____
_____ 10,668

00
00
00
00

T o t a l_______________ ____________________________________________ $91,517 00

T h e c o s t o f e n g in e r e p a ir s w a s $ 1 ,6 1 7 ,2 3 1 6 2 , a n in c r e a s e
o v e r t h e p r e c e d i n g y e a r o f $ 1 9 5 ,1 9 5 4 1 .
T h e tr a c tiv e p o w e r o f lo c o m o t iv e s o n J u n e 3 0 th 1906 w a s
2 ,7 0 9 ,4 7 0 p o u n d s g r e a t e r t h a n a t t h e c lo s e o f t h e p r e c e d i n g
year.
T h e f o llo w in g t r u s t e q u i p m e n t w a s r e c e iv e d :
Series C—
D—
E—
F—
G—

17 freight locomotives.

2.000 hopper coal cars, 100 000 pound capacity.
9 freight locomotives.

1.000 drop-bottom gondolas, 100,000 pounds capacity.
5 passenger locomotives.
500 box cars, 80,000 pounds capacity.
300 hopper coal cars, 100,000 pounds capacity.
9 freight locomotives.
490 hopper coal cars, 100,000 pounds capacity.
21 freight locomotives.

T h e f o llo w in g a d d it i o n s w e r e m a d e t o y o u r e q u ip m e n t
th ro u g h th e F u n d fo r A c q u ir in g A d d itio n a l E q u ip m e n t:

10 passenger cars,
0 passenger and baggage cars,

5 baggage and express cars,
5 baggage and mall cars,
330 hopper coal cars— 100.000 pounds capacity.

574

THE CHRONICLE.

T he follow in g e q u ip m e n t was acquired through the E q u ip ­
m ent Renew al F u n d , in replacem ent o f eq u ipm en t p reviou sly
destroyed:

9 freight locomotives,
1 officers' car,
500 box cars, 80,000 pounds capacity,
500 drop-bottom gondolas— 100,000 pounds
25 cabin cars, 4-wheel,
1 steam wreck car,
1 steam shovel,
1 pile-driver.

capacity,

There was also added to the eq u ip m en t 1 freight lo c o ­
m otiv e w hich had been sold in a p reviou s y ea r, b u t was re­
turned and placed in service.
T he total equ ip m en t ow n ed and leased June 30th 1906
consisted o f—

88 passenger locomotives,
596 freight locomotives,
50 switching locomotives,
784 locomotives,
350 passenger cars,
31,017 freight cars,
583 maintenance of way cars,
7 barges.

There were in the shops undergoing and aw aiting repairs
at the close o f the y ea r, 57 lo co m o tiv e s , or 7.8 per cent
(14 needing on ly light repairs), 22 passenger cars, or 6.3 per
cen t, and 696 freight cars, or 2.2 per cen t.
M A IN T E N A N C E , O F W A Y A N D S T R U C T U R E S
T he cost o f M aintenance o f W ay and Structures was
$3,439,797 14, or a b o u t $1,856 00 per m ile o f roa d , as co m ­
pared w ith $1,721 00 per mile o f road fo r the preceding year.
82.17 m iles o f m ain tra ck were relaid w ith 85-pound
steel rails.
53.78 m iles o f track were full ballasted.
The exten sive addition s to division yard s at R o a n o k e ,
Bluefield and W illiam son , p rev iou sly in progress, have been
con tin u ed and will b e com p leted early in 1907. C onsiderable
progress has been also m ade in the con stru ction o f a. receiving
yard at S outh N orfolk .
A b rick passenger station was b u ilt at Christiansburg,
ad d ition al station grou nds having been secured for the pu r­
p ose. T he V irginia A nthracite Coal & R a ilw a y Co. will
also use this station .
C om bined passenger and freight stations w ith livin g q u ar­
ters for A gen ts were erected at P a geton , at C oalw ood and
at P eeryville.
A t P ortsm ou th the old m achine shop was exten d ed and
rem odeled for use as a Freight S tation , the old shop grounds
bein g con v erted in to a freight d elivery ya rd .
An um brella shed and p la tform were added to Bluefield
Passenger S tation , and those at K e n o v a Station were e x ­
ten ded.
Stations were enlarged at Iv o r , W ak efield, W a v e rly ,
A p p o m a tto x , R o u g e m o n t, H en ry , Ingleside, T h a ck er.
W arfield , Crum and W in ch ester.
A t R oa n ok e a b rick a d dition to the General Office B uildin g,
six stories in h eigh t, 53x132 fe e t, was com p leted .
A frog shop and rail mill consisting o f a b rick structure
76x196 feet was erected at R oa n ok e Shops.
A com m issary b u ildin g was erected at R o a n o k e , using
b rick and oth er m aterial from old passenger station .
A b rick bu ildin g for car in spectors was erected at R o a n o k e .
A b rick pow er house 53x100 feet was erected at B luefield.
Ten stalls o f K e n o v a roundhouse were rem oved and re­
erected at C olum bus.
A com m od iou s Y o u n g M en’s Christian A ssociation building
was erected at E ast P ortsm ou th .
A dw elling house for roadm aster was erected at V ivian .
Seventeen section forem en ’s houses and tw en ty -on e sec­
tion -m en ’ s houses were erected at variou s poin ts.
Coaling stations were erected at Shenandoah J u n ction ,
R ich lan d s, K ey sto n e , V ivian and G rapevine.
Standard 50,000-gallon tanks were erected at H ick son ,
H en ry , R id g ew a y , Salem , W a lto n , M arion, B ristol, C urve,
B lak e, S w itch back , S im m ons, V iv ia n , H em phill and M c­
D erm ott; also at A u v ille, A tw ell and R ift, on the D ry F ork
B ranch. Steel tanks o f 400,000-gallon ca p a city were erected
at Coaldale and S w itch back as part of a general w ater su pply
system for the E lkhorn D istrict.
Pum ping plants o f increased ca p a city were installed at
S im m ons, H ig b y s, C ircleville and M cD erm ott, and a large
p u m pin g station was con stru cted at B luestone for supplying
w ater to the E lk h orn D istrict from C ooper to N orth F ork.
A w ater filter was con stru cted at E ast R a d fo rd .
W ater-soften in g plants were installed at W a lto n , M organ,
N orth F ork , D elano and Circleville.
A standard 100-ton ca p a city track scale was installed at
C hillicothe.
In terlock in g and signaling apparatus was installed or
im p rov ed at B ridge N o. 5 N orfolk , B e d fo rd , B erryville,
R o a n o k e , W est R oa n ok e R eceiv in g Y a rd , E ast R a d fo rd ,
E ggleston , B lake, A d a , C oaldale, G ra y , D ingess T un n el,
H anging R o c k , Franklin F urnace and R en ick .
3,418 lineal feet o f w ood en bridges and 91 lineal feet of
lig h t iron bridges were replaced b y m asonry arches or cu l­
verts and em ban km en ts.
3,855 lineal feet o f w ood en bridges and 1,381 lineal feet
o f ligh t iron bridges were replaced b y steel structures.
318 lineal feet o f w ood en bridges on bran ch lines were re­
placed b y iron structures released from the m ain line.

(VOL. IiXXXlII

M asonry footin gs on con crete pile fou n d ation s, arranged
fo r a future second track , were con stru cted for the entire
length o f the K e n o v a V iadu ct approach to O hio R iv er B ridge.
O verhead steel roa d w a y bridges were con stru cted at Mary
S treet, B ristol and at H em phill; overh ead fo o t bridges were
built, at Jefferson S treet, R o a n o k e , and from R a n d olp h Street
to the R o a n o k e Shops.
132,165 cu bic yards o f material were dredged from slips
at L a m b ert’ s Point coal piers and w arehouses.
The tunnel for eastbou n d track at M on tgom ery was en­
larged to standard clearance and lined w ith con crete, length
649 feet.
T he First E ggleston T unnel was replaced b y a d ou ble-track
tunnel on new lo ca tio n , length 893 feet.
Tunnels were lined with b rick on the Clinch V alley D istrict
as follow s: Creagan 248 feet, and H olb rook 196 feet, com ­
pleting the last nam ed.
Tunnels were lined w ith con crete on the Big San ty L ow Grade Line as follow s: T unnel N o. 2, 380 feet; Tunnel N o. 3,
1,318 feet; Tunnel N o. 5, 263 feet; Tunnel N o. 6, 2,149 feet;
and Tunnel N o. 7, 1,363 feet, th ereby com p letin g the lining
o f all tunnels on that line.
Three enlarged culverts were con stru cted on P ocah on tas
D ivision.
612,586 cu bic yards of m aterial were used in w idening and
strengthening ban ks.
725,146 lineal feet (137.34 m iles) o f standard fen cin g wereerected.
85,234 lineal feet o f fit 5 6 -p ou n d, 67-pouncl and *5 -p ou n d
ail were used for guard rails on im p orta n t brid ges.
T R A F F IC .
As com p a red w ith the' precedin g y ea r, passengers carried
increased 274,706, or 7.8 per cent; the average haul o f passen­
gers increased 0.71 m iles.
The to ta l passenger revenue increased $439,784 94, or
13.9 per cent; the average rate per passenger per mile in ­
creased 0.086 cents.
T ons o f freight carried increased 3,41 4 ,211. or 21.5 per
cent; the average haul o f freight decreased 9.27 miles.
The tota l freight revenue increased $3,862,401 91, or
19.1 per cent; the average rate per to n per m ile increased'
0.007 cents.
The freight-train m ileage increased 613,989 m iles, or 7.6
per cent; the average tons per train mile increased 48 ton s,
or 9.0 per cent.
T he coal shipm ents were 9 ,510,439 to n s, an increase of
1,326,863 ton s, or 16.2 per cent.
T he lum ber shipm ents were 1.708,501 ton s, an increase
o f 379,137 ton s, or 28.5 per cen t.
The shipm ents of oth er low -class com m odities con n ected
w ith the iron and steel industries were as follow s:
Coke shipm ents were 2,364,861 ton s, an increase o f 411,511
ton s, or 21.1 per cent.
Iron ore shipm ents were 860,926 to n s, an increase o f 262,648 ton s, or 43.9 per cent.
L im estone shipm ents were 349,306 ton s, an increase of
173,654 ton s, or 98.9 per cent
P ig-iron shipm ents were 583,953 ton s, an increase o f 134,704 ton s, or 30.0 per cent.
T he follow in g statem ent shows the passenger and freight
statistics fo r the years 1906 and 1905:

TRAFFIC AND MILEAGE STATISTICS.
1905- 1906.
1904- 1905. Increase (+) or
t)ecrcase (—■ ).
Passenger T r a f f ic —
3,530,962
3,805,668
+ 274,706Passengers
carried---------154,860,312 141,159,752
+ 13,700,560
••"
one“mile_____
per mile
+ 5,107
78 466
83,573
of road---------------------•
Average
distance carried
+ 0.71
39.98
40.69
per
passenger
(miles)
94
Total passenger revenue— $3,598,557 60 S3.158,772 66 + $439,784
+ 5.10
89.46
Av. rev. from pass, (cents)
94.56
Av. rev. per passenger per
+ 9.086
milepass’ger
(cents)---------------2.324
2.238
Total
earnings___ $4,234,935
95 33,711,516 56 +.$523,419 39
Passenger earnings per mile
+ $222 35
of road______________
$2,285 45
$2,063 10
Passenger earnings per train
+ 12.27
mile
(cents)__________
121.42
109.15
Earnings per passenger per
+ 0.106
mile (cents)__________
2.735
2.629
F re ig h t T r a f f ic —
+ 3.414,211
Tons
of freight carried___ 19,266,534 15,852,323 + 741
.227,306
Tons carried one mile____ 5,011,466,563 4,270,239,257
Tons
one mile per 2,704,515
+ 330.841
milecarried
of road__________
2,373,674
Average distance carried
—9.27
per revenue
ton (miles)________
260.11
269.38
Total
from freight.$24,111,800
91 $20,249,399 90 + $3,862,401 91
Average revenue per ton of
' —2.59
freight (cents)________
125.15
127.74
Average revenue per ton
+ 0.007
per freight
mile (cents)_______
0.481
0.474
Total
earnings____ $24,252,829
68 $20,377,743 23 + $3,875,086 45Freight earnings per mile
+ 1,761.15
11.327.26
of road (cents)________
13,088.41
Freight earnings per train
+.26.80
253.62
mile
(cents)__________
280.42
Freight earnings per ton
+ 0.007
0.477
per mile (cents)----------0.484
T o ta l T r a f f ic —
Gross earnings___________$
28,487,765 63 $24,089,259 79 + $4,393,505 84
-^1.983 50
“ per mile of road
15,373 86
13,390 36
“ per train mile
+ 24,06
210.67
(cents)______________
234.73
Operating
expenses:
2,719,021 75 32,446.247 73 + $272,774 02
Passenger______________$
12.168,186 47 + 2. 177,415 60
Freight _____________ 14,345,602 07 14
.614,434 20 + 2.450,189
62
Passenger and freight— 17,064,623
82
++107
58
1,467
36
1,359 78
Per mile of road, pass
—
977 967 741 82
freight
6,763 86
“
pass. &
+ 1,085 54
9,209 18
8,123 64
freight--------------------Per train
mile, passenger
+ 6.02
71.94
77.96
(cents)______________
+ 14.43
151.44
165.87
Per train mile, freight (cents)

Sept. 8 1906. j

THE CHRONICLE.

575

1904- 1905, Increase (+ ) or qu ired or c o n s tr u c te d , fo r se c o n d tra ck s, fo r sid in g s, y a r d s ,
i-.tM H I I 1905- 1906.
Decrease (—)
Total Tralfic—
sta tion s and o th e r tra n sp o rta tio n fa cilitie s, fo r b etterm en ts
Per train mile, passenger
140.61
127.81
+ 12.80 to the p ro p e r ty a n d fo r e q u ip m e n t th e sum o f $ 4 1 ,3 6 4 ,5 9 8 19,
and freight (cents).........
1.756
1.733
+ 0.023 o f w hich there w as p r o v id e d b y sales o f ca p ita l o b lig a tio n s
Per passenger per mlle(ccnts)
0.285
0.2S6
+ 0.001
Per ton per mile (cents) —
Net Earnings:
20 $ 1,265,268 S3 + $ 250,645 37 the sum o f $ 2 2 ,3 9 1 ,4 9 7 47, the rem ainin g $ 1 8 ,9 7 3 ,1 0 0 72 o f
Passenger____________ $ 91,,515.914
907.227 61 S,209.556 76 + 1.697.670 85 ex p en d itu res h a v in g b een m a d e from su rplu s in co m e .
Freight
_____________
81 9.474.825 59 + 1,948.316 22
Passenger and freight — 11,423.141
A d d ition s to th e e q u ip m e n t in use w ere also m ad e th rou g h
818 09
703 32
+ 114 77 the a g e n cy o f e q u ip m e n t tru sts, u nder w h ich th ere h ave b een
Per mile of road. pass.5,346
59
4,563 40
freight
+783 19
pass. &
issued an aggrega te o f $ 1 0 ,5 0 0 ,0 0 0 o f E q u ip m e n t T ru st Cer­
6.164 6 S
5 266 72
+ 897 96 tificates, o f w h ich $ 1 ,1 0 0 ,0 0 0 m a tu red an d w ere p a id to
Perfreight--------------------train mile, passenger
43.46
37.21
+ 6.25
June 30 1906.
Per(cents)-------------------train mile, freight
T hese ex p en d itu res h a v e a d d e d to y o u r C o m p a n y ’s road
114.55
102.18
+ 12.37
(cents)_____________
2 91.60 m iles o f m ain line an d b ra n ch e s , 131.78 m iles o f secon d
Per train mile, passenger
94.12
82.86
and freight (cents) —
+ 11.26
track and 351.88 m iles o f sid in g s, an d to its e q u ip m e n t 328
Per passenger per mile
0.896
0.979
(cents)_____________
+ 0.083 lo c o m o tiv e s , 112 passen ger ca rs, 15,129 freig h t cars a n d 141
0.198
0.192
Per ton per mile (cents) .
+0.006
m a in te n a n ce -o f-w a y cars.
L arge a d d itio n s h ave also been
Train Mileage—
3.400,205
3.4S7.S19
Of revenue pass'ger trains.
+ S7.614 m ad e to its y a rd s, sh o p s, sta tion s an d oth er fa cilities an d
8.034,639
S,648,628
Of revenue freight trains-.
+ 613.989 a p p lia n ces. T he p r o p e rty has been fu rth er im p r o v e d b y
770.476
731.526
Of non-revenue trains___
+ 38.950
12 166,370
12.906,923
Made by all trains_______
+ 740,553 revision s o f line and g ra d e , b y the s u b stitu tio n o f p erm a n en t
Engine Mileage—
b rid g es or em b a n k m en ts fo r te m p o r a r y stru ctu res, b y a d d i­
3.4S7.819
3,400,205
Of passenger engines_____
+87,614 tion al fe n cin g a n d b a lla stin g , and b y th e m u ltitu d in o u s a d d i­
Of passenger engines em­
ployed In helping passen­
tions and im p ro v e m e n ts w h ich a ra p id ly g row in g bu sin ess
142,426
137,235
—5,191
ger trains_____________
8.648.628
8,034,639
Of freight engines_______
+ 613,989 renders o b lig a to r y .
Of freight engines employed
T h e great need o f these a d d itio n s an d im p ro v e m e n ts an d
5,275.565
4,080,632
In helping freight trains.
+ 1,194,933 their ben eficial effect u p on th e v o lu m e a n d e c o n o m y o f the
2,845,996
2,278,454
Of shifting engines______
+ 567,542
Of maintenance of way en­
C o m p a n y ’s op e ra tio n s are a m p ly e v id e n ce d b y the fa c t th a t
759,894
708,241
+ 51 653
gines _________________
18,644,597
Of all engines____________ 21,155,137
+ 2,510,540 w hile in eigh t yea rs th e m ilea ge o f m ain line an d b ra n ch es
in creased 17 p er c e n t, an d th e n u m b er o f lo c o m o tiv e s and
Car Mileage—
18,339,773
Mileage of passenger cars.. 18,627,804
+ 288,031 cars in use in crea sed 6 4 .per c e n t, th e p a ssen ger traffic m o v e ­
Average number passenger
m en t in crea sed 132 p er c e n t, the freig h t traffic m o v e m e n t in ­
5.34
cars per train mile_____
5.39
—0.05
Average number passengers
creased *118 p er ce n t and the gross earn in gs in creased 154
44
42
per train mile__________
+2
p er c e n t.
Mileage loaded freight cars,
12,697.607
North and East_______
9S,366,488
+ 14,331,119
N otw ith sta n d in g th e large ex p en d itu res referred to an d
Mileage loaded freight cars.
South and West________ 87,303.321
78,430,147
+ 8,873,174 the u nceasing efforts o f y o u r m a n a g em en t to su p p ly a d eq u a te
Mileage emptry freight cars,
fa cilities, the d em a n d s o f a b r o a d a n d e x p a n d in g in d u strial
46,804,349
North and East_______
44 715,380
+ 2,088,909 d e v e lo p m e n t u p on th e C o m p a n y ’s resou rces an d fa cilities
Mileage empty freight cars.
South and West_______
68,697,665
63,841,367
+ 4,856,298 h a v e n o t a t a n y tim e been fu lly m e t. W h ile ex istin g d e ­
Average number freight cars
ficiencies were b e in g su p p lie d , new needs w ere d e v e lo p in g .
per train mile__________
36.48
35.52
+ 0.96
Average number loaded
T o satisfy cu rren t w an ts an d to m ak e reason able p ro v is io n
freight cars per train mile
23.14
2 2 .0 0
+ 1.14
fo r fu rth er g ro w th has th erefore b e e n an ever p resen t
Average number empty
freight cars per train mile
p rob lem .
13.35
13.51
—0.16
Average number tons freight
T hese co n d itio n s le d to th e fo r m u la tio n b y the P resid en t
per train mile__________
579
531
+ 48
o f a general p rog ra m o f im p ro v e m e n ts an d e q u ip m e n t fo r
Average number tons freight
• per loaded car] mile___
25.57
24.15
+ 1.42
im m ed ia te re q u irem en ts, w h ich was su b m itte d to and ap
Average mileage operated
p r o v e d b y y o u r B o a rd a t its m eetin g in Jan u ary 1906.
1,839
- during year__________
+ 40
1,799
W o r k u p on th e severa l featu res o f this p rog ra m w as b eg u n
SUMMARY OF PASSENGER AND FREIGHT CAR MILEAGE.
ra p id ly as circu m sta n ces p e rm itte d , and is b ein g a ctiv e ly
— Year ending June 30— as
p rosecu ted . O w ing to its m a g n itu d e an d a tte n d a n t diffi­
1906.
1905.
Total passenger car mileage on Norfolk & Western
lties, som e o f this w ork w ill n o t b e c o m p le te d u n til the
R ailw ay___________
18,627,804 18,339,773 cu
latter p a rt o f the y e a r 1907.
Mileage of Norfolk & Western passenger cars on
Norfolk & Western Railway_________________ 14,759,236 14,271,269
T he fo llo w in g are th e m o re im p o r ta n t o f th e w ork s a u th or­
Mileage of Norfolk & Western passenger cars on
foreign lines____________
1,241,308
1,045,685 ize d and u nder c o n stru ctio n :
Total mileage made by Norfolk & Western passen­
1. T he F orest B ra n ch o f 7 .6 0 m iles, an d th e C on cord
ger cars ____________________________
16,000,544 15,316,954 B ra n ch o f 14.52 m iles fro m th e D u rh a m L in e , and a revised
Mileage of foreign passenger cars (including Pull­
man) on Norfolk & Western Railway_________ 3,868,568 4,068,504 line w ith secon d tra ck fro m F orest to M o n tv a le , 26.6 m iles.
Percentage of passenger car mileage made by for­
T hese tw o b ra n ch es, in a d d itio n to a ffo rd in g tra n sp orta tion
eign cars____________________________________
21.0
22.2
fa cilities to lo ca l in d u stria l en terp rises, w ill fu rn ish a lo w Mileage of Norfolk & Western freight cars on
Norfolk & Western Railway________________ 200,032,946 193,597,019 grade line fro m C on cord to F o re st w h ich can b e op era ted in
Mileage of foreign freight cars on Norfolk & West­
ern Railway______________________
115,469.996 91,756,363 co n ju n c tio n w ith the e x istin g line as a d o u b le tra ck b etw een
Percentage of freight car mileage made by for eign
th ose p oin ts. T his w o rk w ill b e c o m p le te d d u rin g 1907,
cars________________________________________
36.70
32.2
th ou g h several section s o f it w ill b e in use b y th e en d o f 1906.
Mileage of Norfolk & Western box cars on Norfolk
& Western Railway_________________________ 29,494,953 31,994,930 R e v ise d lines w ith se co n d tra ck from E gg leston to P e m b ro k e ,
Average number of box cars in service on Norfolk
& Western Railway ____________________
3,229
3,070 6 m iles, in clu d in g three tu n n els, an d fro m W elch to D a v y ,
Average daily mileage of box cars on Norfolk &
7 .2 m iles, n early c o m p le te d ; se co n d tr a ck , fr o m D a v y to
Western Railway_____________________________ 27.86
28.55
C laren, 3 m iles; fro m W ilm o re to Ia e g e r, 4.1 m iles, a n d from
Mileage of Norfolk & Western coal cars on Nor­
folk &. Western Railway_____________________ 142,634,757 117,003,305 E ast Iron ton to H a n g in g R o c k , 5.6 m iles.
Average number of coal cars in service on Norfolk
2. A storage and a ssem blin g y a r d a t S ou th N orfolk and
& Western Railway_________________________
11,342
8,314
Average dally mileage of coal cars on Norfolk &
ex ten siv e enlargem en ts o f the y a rd s a t R o a n o k e , B lu efield
Western Railway.__ ________________
34.45 38.56 and W illia m son . T he c o m p le tio n o f these y a rd s , w ork u p on
Total Norfolk & Western freight car mileage on
w h ich is well a d v a n c e d , w ill g re a tly relieve th e con g estion
Norfolk & Western Railway in transportation
of freight__________________ _______________ 192,585,570 186,958,788 u p on y o u r lines.
Average number of Norfolk & Western freight
3. E xten siv e a d d itio n s to th e R o a n o k e a n d P ortsm ou th
cars in service______________________________
28,654
25,852
Average number of Norfolk & Western freight
in b o th lo c o m o tiv e a n d car d ep a rtm en ts.
cars in service on Norfolk &Western Railway. _
17,011
15,472 sh ops
A m o n g the m ore im p o r ta n t im p ro v e m e n ts y e t to b e u n d er­
Average daily mileage on Norfolk & Western
Railway. _____ ____________ ________ _
31.02
33.11 taken are the railroads to co n n e c t w ith the B ig S to n y R a il­
G E N E R A L R EM AR K S .
T he in du stries establish ed on y o u r lines du rin g the yea r
in clu d e the follow in g :

1 barytes manufactory,
5 bottling works,
1 box factory,
4 brick works,
4 building material factories,
8 canning factories,
1 chair factory,
6 coal mines,
1 cotton mill.
1 distillery,
2 elevators.
1 fertilizer factory.
4 flour and meal mills
1 furniture factory.
3 handle, spoke and rim factores,
2 Ice factories,

1 hosiery mill,
6 iron ore mines,
1 leather factory,
1 lime kiln,
6 lumber, box and planing mills,
4 lumber yards.
2 machine shops,
9 manufactories of cement blocks,
2 mattress factories,
54 sawmills,
1 soap factory,
4 stone quarries.
1 tin-can factory,
1 veneer factory,
1 wagon factory

A t the close o f the y ea r there w ere 156 coa l and c o k e 'e o m panies in o p era tion ; 13,197 co k e o v e n s w ere c o m p le te d , in­
clu d in g 2.149 ov en s o f th e U n ited S tates Coal & C oke C om ­
p a n y , and 188 co k e o v e n s were u n d er c o n s tru ctio n .
On June 30 1906 there were in o p e ra tio n 14 iron fu rn a ces,
w ith an estim ated a g grega te ca p a c ity o f 1,900 to n s o f pig
iron per d a y ; 7 fu rn a ces a ggrega tin g 695 ton s o f pig iron per
d a y w ere o u t o f b la st.
F rom its org a n iza tion to June .30 1906 y o u r C o m p a n y has
ex p en d ed for railroad lin es, b ran ch es and e x ten sion s a c-

w a y to reach the iron ore d ep osits o f P o tts Creek V a lley ; th e
co n tin u a tio n o f y o u r d o u b le -tra ck system b y th e co n stru c­
tio n o f section s b etw een W a lto n and P ea risb u rg , agg reg atin g
18.79 m iles, and the c o stly b u t v e r y im p o r ta n t w ork (in clu d ­
ing m a n y tunnels) from V iv ia n to T h a c k e r, betw een w hich
p oin ts 50.4 m iles o f line m u st y e t b e revised and d o u b le tra ck ed . W h en this w ork is co m p le te d y o u r C om p a n y w ill
h ave a con tin u ou s d o u b le tr a c k , w ith grades and cu rvatu res
fa v ora b le to e c o n o m ica l o p e r a tio n , from C o n co rd , V a ., to
K e n o v a , W , V a ., a d ista n ce o f 377 m iles.
A large n um ber o f a d d itio n a l passin g track s a t v a riou s
p oin ts on th e entire s}rste m , and a d d itio n a l passenger and
fre ig h t e q u ip m e n t w ill b e re q u ired , an d fu rth er en largem en ts
o f, and a d d ition a l tools for, the sh o p sa t R o a n o k e , B lu e field
and P ortsm ou th .
T he results a ch ie v e d in y o u r C o m p a n y ’s op era tion s h ave
so en h a n ced its cre d it as to su ggest th a t th e in terest o f the
sto ck h o ld e rs m a y , in the n o t d ista n t fu tu re, bo best su b ­
served b y financing its ca p ita l requ irem en ts fo r fu rth er c o n ­
stru ctio n , e q u ip m e n t a n d b e tte rm e n ts b y the sale o f com m on
stock o r, a lte rn a tiv e ly , o f b o n d s co n v e rtib le in to com m on
s to c k . T o en able this to b e d o n e w hen fa v ora b le co n d itio n s
e x ist, the B oa rd o f D irectors in June 1906 d ecid ed to ask the
|
j stock h old ers to a p p ro v e an in crease o f the au th orized c o m ­
' m on stock o f the C om p an y b y th e sum o f $ 3 4 ,0 0 0 ,0 0 0 , to

576

[VOL. LXXXI1L

THE CHRONICLE.

an aggregate of $100,000,000, and to sanction the creation of
an issue of bonds of the Company convertible into common
stock at the option of the holders during a term of years,
the terms and provisions of conversion and the times and
amounts of issues to be determined by the Board of Directors.
The Annual Meeting of the Stockholders to be held at
Roanoke, Va., on October 11 1906 has therefore also been
called as a Special Meeting of the Stockholders to consider
the above indicated proposals.
The statistical tables showing in detail the operations of
the Transportation Department during the year demonstrate
the continued efficiency and economy of that Department.

Your directors have to report, with deep regret, the death,
on September 30th 1905, of their esteemed colleague, Suther­
land M. Prevost. They have placed on record in the minutes
of the proceedings of the Board an expression of their ap­
preciation of Mr. Provost’s valuable services to the Company
and of their esteem for his high character and abilities.

At the annual meeting of the Company, held October 12th
1905, Mr. J. B. Thayer was elected a Director in the place
of Mr. Prevost, and Mr. William G. Macdowell was elected
a Director in place of Mr. N. Parker Shortridge, who declined
re-election.
s,-*,Since the close of the fiscal year Messrs. William H*. Barnes
and J. B. Thayer have resigned their positions as Directors
of the Company, and Messrs. Henry C. Frick and Levi C.
Weir have been elected to fill the vacancies so caused.
The certificate of Messrs. Price, Waterhouse & Co., the
independent auditors elected to audit the books and accounts
of the Company, is attached to the Balance Sheet.
The officers and employees of the Company have faithfully
and efficiently discharged their duties during the year.
By order of the Board, ^
L. E. JOHNSON,

C E R T IF IC A T E

O F IN D E P E N D E N T

A U D IT O R S .

PRICE, WATERHOUSE & CO.,
C h artered, A c c o u n t a n t s .

N ew Y o r k , A u g u st 31sf 1 9 0 6 .
T o the Shareholders o f the N o r fo lk & W estern R a ilw a y C o m p a n y :
W e h ave e xa m in e d the b o o k s and acco u n ts of the N orfolk
& W e s te r n R a ilw a y C o m p a n y at R o a n o k e and P hiladelph ia
for th e year ending June 3 0 th 1 9 0 6 , and
W e certify th a t th e a n n ex ed G eneral B alan ce Sh eet is
properly draw n up th erefrom so as to show th e true financial
p osition of th e C o m p a n y a t th a t d a te.

PRICE, WATERHOUSE & CO.,
Chartered A cco u n ta n ts.
COST OF ROAD JUNE 30TH 1906.
The cost of road June 30th 1905 was_____________________J138.017.104 71
Add for—
Cost of Kenova & Big Sandy
R R ., and Naugatuck Branch
(transferred from open ac­
count) as of June 30 1905. $4,668,729 33
For Fiscal Year ending June 30
1906 .................... ...................
270,994 73
--------------- -— $4,939,724 06
Cost of Speedwell Extension__________
88,973
08
“ Tug Fork Branch______________
1,582
90
119,027
09
" Concord and Forest Branches__
“ Big Creek Branch_____________
9,505
01
“
Laurel Creek Spur___________ :______
1,563 99
Real estate, for Right of Way, etc__________
23,839 74
Stations, buildings and shops_______________
326,905 49
80,184 73
Coal, water and sand supply plants_________
Second track (Including tunneling)_________ 1,391,784 40
Sidings, passing sidings and yards__________ 1,117,053 82
Improving Alignment and Grade___________
2,550 00
Miscellaneous Charges_____________________
17,201 86
------------------8,119,896 17
Deduct for—
Cost of work on lines of Subsidiary
Companies (transferred to open
accounts)—■
West Virginia Southwestern R R .$112,747 49
Guyandot & Tug River R R __ 11,363 59
Pocahontas & Western R R ______
660 00
---------------Sale of Lands, Roanoke, Va_______________
Sale of Lands, Winston-Salem, N. C_______
Miscellaneous credits______________________

$146,137,000

124,771 08
5,172,00
535 00
24,249 80
----------------

154.727,'88
$145,982,273 00

COST OF EQUIPMENT JUNE 30TH 1906.
The cost of equipment June 30th 1905 was_______________ $12,483,021 25
No additional charges__________________________________
________
$12,483,021 25

P resid en t.
NORFOLK & W ESTERN

88

RAILWAYgCOMPANY— GENERAL BALANCE SHEET JUNE 30TH 1906.
ASSETS.

COST OF ROAD AND EQUIPMENT—
Railroad franchises and other property__________________________ _
_
$145 982 273 00
Rolling stock---------------------- ------------------------------------------------------------------ 1111.1111111111111 12,483,021 25
IAEGER & SOUTHERN R A IL W A Y _________ .
•KENOVA & BIG SANDY RAILROAD AND NAUGATUCK BRANCH” !
I
COLUMBUS TERMINAL & TRANSFER RAILROADfCO. PROPERTY AT COT.ttmpTttsi
BLACKSTONE & LUNENBURG RAILROAD. CONSTRTTOTTON
r-unuM w us------- --------------- - GUYANDOT & TUG RIVER RAILROAD, CONSTRUCTION
"
POCAHONTAS & WESTERN RAILROAD CONSTRUCTION
~ ............ .. “
"
BIG STONY RAILW AY, CONSTRUCTION____________ _
------------------WEST VIRGINIA SOUTHWESTERN RAILROAD, CONSTRUCTION
EQUIPMENT LEASED UNDER TRUST AGREEMENTS, LESS AMOUNTS' PAID" O U T"'OF
INCOME______________________________ _
COMPANY’S SECURITIES IN THE TREASURY—
Adjustment preferred s to ck _______________________
$8,900 00
Commonstock____________________________________ ~~
~
1,530,800 00
First consolidated mortgage bonds______________ 1111
~
13,000 00
INVESTMENTS IN OTHER COMPANIES
ACCOUNTS RECEIVABLE—
Station A gents__________________________
Traffic balances__________________________
United States Government_______________
Individuals and companies_______________

$744,175 66
493,547 06
66,193 72
863,048 51

INSURANCE PAID IN ADVANCE_______
MATERIAL AND SUPPLIES____________________ I I I I I I I I I I I I
POCAHONTAS COAL & COKE CO.—CASH ADVANCES FOR ADDITIONAL REAL ESTATE
C A S H __ ______ _______________________________

C o m p a r is o n w ith
J u n e 30 1905.

+ $7,965,168 29
$158,465,294 25
1,499,019 83
250,000 00
21.825 16
49.825 45
102,677 44
11,743 99
148,758 08
9,400,000 00

1,552,700 00
1,067,058 58

2,166,964
34,723
2,404,263
800,000
4,151,422
$182,126,277

+ 938,913 44
— 4,668,729 33
+ 21,825
+ 49,825
+ 102,677
+ 11.743
+ 148,758

16
45
44
99
08

+2,100,000 00

+ 12.088 58
+ 169,614
— 14,645
+ 10,009
+ 192,834

69
53
92
81

69

+ 17,678
+ 670,418
+ 305,00
-2,179,308

95
00
00
78

66

+$5(853,873 19

95
45
76
00

•Transferred to Cost of Road and Equpment as of July 1st 1905.
CAPITAL STOCK—
L IA B IL IT IE S .
Adjustment preferred------------------------------------------ -------------- -----_ . ______________ ______ $23,000,000 00
Common-------------------------------------------------------------------------------------------------------------------------------- 66.000,000 00
FUNDED DEBT—
South Side Railroad Company Consolidated mortgage bonds
_
_
__ .
$1,000 00
Virginia & Tennessee Railroad Company enlarged mortgage bonds '
_
. . .
5,000 00
Norfolk & Western Railroad Company—
General mortgage 6 % bonds__ _______________ _
.
. . 7 ,283,000 00
New River Division first mortgage 6 % bonds-_ _ _
- - _ _ 2 000,000 00
Improvement and Extension mortgage 6 % bonds____ _
_ _
.
. ____________
5 ,000,000 00
Scioto Valley & New England Railroad Company first mortgage 4% bonds___________________
5 000,000 00
Columbus Connecting & Terminal Railroad Company 5% mortgage bonds
______________
600,000 00
Norfolk & Western Railway Company—
First consolidated mortgage 4% coupon b o n d s __ _
_
_
_
_
______ 37 .355.500 00
First consolidated mortgage 4% registered b o n d s _____
_
_______ ___________
3 045.000 00
Divisional first lien and general mortgage 4% coupon bonds
_ - ______________
1 0 938.000 00
Divisional first lien and general mortgage 4% registered b o n d s _____________________________
62,000 00
OUTSTANDING EQUIPMENT TRUST CERTIFICATES FOR LEASED EQUIPMENT________
INTEREST ON FUNDED DEBT, ACCRUED
.
ACCOUNTS PAYABLE—
Pay-rolls_______________ ___________ ______ _______________________________________________
Audited vouchers_________________________________________________________________________
Traffic balances______________________________________________ ________________ '____________
Individuals and companies______________________________ ■________________________________
TAXES ACCRUED_____________
BETTERMENT FUND_________
RESERVE FUNDS—
Acquiring additional equipmentEquipment renewal___________
Casualty--------------------------------Rail renewal_________________
PROFIT AND LOSS-

..
...
$1,076,791 93
1,816,079 45
94,939 50
227,424 28

$573,445 24
161,173 41
949 34
145,788 80

C o m p a r is o n w ith
J u n e 30 190 5

$89,000,000 00

— $32,000 00
+ 32,000 00
+ 2,978,000 00
71,289,500 00
9,400,000 00
1,030,301 67

3,215,235 15
360,259 10
3,148,771 00

881,356 79
3,800,853 94
$182,126,277

66

+ 22,000 00

+ 2,100,000 00

+ 81,753 67

+ 126,131
+ 438,426
+ 20,125
+ 100,255

08
64
90
57

+41,153 22
— 96,441 52
— 202,817
— 411,802
— 175
+ 58,338

95
75
39
81

+ 598,925 91
+$5,853,873 19

Sept. 8 1906.]

577

THE CHRONICLE.

Union Gas & Electric Co., Cincinnati.—Organized— Lease

T h e
(F c im r a e m a l T im e s .
capital stock to $20,000,000 (of which $10,000,000 is 6%
cumulative preferred, par $100), and having deposited
COMMERCIAL EPITOME.
53.000. 000 cash to guarantee the regular payment of divi­
dends on the $31,000,000 stotk of the Cincinnati Gas & Elec­
F rid a y N ight, Sept. 7 1906.
tric Co., $2,000,000 being also provided for additions and
The activity in general trade and the cheerful tone of
improvements, formally took over the property on Sept. 1 business circles almost everywhere, in spite of something of
under the terms of the 99-year lease (V. 83, p. 274). The a flurry in the money market and the favorable outlook for
lease, it is stated, calls for the payment of dividends on the the crops, are still the more salient features of the situation.
stock of the Gas & Electric Co. to accrue from July 1 1906 to The large demand for manufactures is especially noticeable.
July 1 1908 inclusive at the rate of 4^£% per annum; then to
July 1 1910 at the rate of 4%% per annum (the first distri­
Stocks of Merchandise.
Sept. 1 Aug. 1 Sept. 1
1906.
1906.
1905.
bution at this rate to be made Oct. 1 1908); and for the re­
mainder of the lease at the rate of .5% per annum, the initial Lard ---------- ---------------5,149
6,772
4,919
7,500 14,000 18,000
Cocoa
---------------------payment at the maximum rate to be due Oct. 1 1910.
2
,
696,823
2
,
876,384
3
,
260,652
Coffee, BrazlL..............The “ Cincinnati Tribune” of June 24 said:
110,000 125,000 108,494
Coffee, Java____________
in Effect.—The company having increased its authorized

In order to fortify its right to lease the plant of the Cincinnati Gas &
Electric Co., the Union Gas & Electric Co. yesterday closed a lease for a
period of 99 years of the Cincinnati & Eastern, a branch of the Interurban
Railway & Terminal Company's traction properties. The Interurban
Railway & Terminal Co. is capitalized at S5.000.000, half of which Is bonds
end the other half stock. The Union Gas & Electric Co. assumes all the
abllgatlons of the Interurban Co. upon the Eastern, and agrees to pay divi­
dends upon Its stock. (Compare page 24 of "Street Railway Section.")

391 ,910 355,351
Coffee, other. - ------------ ----- — - . bags 3611,780
,500
3,000 None
Sugar---------------------------- __ -hogsheads
,884 1,217,734
Sugar___________________ ................ ..........No. 608,659 6415,000
6,000
4,400
Hides__________________
87,191
125,545
93,560
C otton________________
_- barrels 25,892 23,049 26,435
Rosin ____________ _____ —
1,107
045
---------barrels
1,752
Spirits turpentine---------1,021
1,871
1,153
Tar_____________________
The Union Gas & Electric Co. announces the following Saltpetre ---------------------3,325
2,000
250
Manila hemp.- — __ - - bales 25,603 17,725 34,000
officers and directors..
1
,515
3,266
1,500
Sisal
hemp__
-Officers— Norman G. Kenan, President: Theodore Claus, Secretary, and Flour___________________ -barrels and sacks 78,600 61,000 60,600
John C. Campbell of New York, Treasurer.
Directors— Norman G. Kenan, Casper H. Rowe, Ruben Holden, and
J. T. Carew of Cincinnati: Archibald White, George W. Young, Oscar GuLARD on the spot has ruled dull and easy, with nar­
belman and A. B. Leach of New York; J. M. Gill of Xenia. O.: Joseph
Heard of Parkersburg, W. Va.; H. A. Everett, Cleveland. SeeV. 82, p .1274 row changes in quotations; City, 8 }^ c .; Western, 8.70@8.75c.

United Milling & Grain Co. of Topeka, Kan.—SfocA-Q Of
Cohen Co., bankers, and James Brunt-on,
fiscal agents, 74 Broadway, New York, were recently receiv­
ing subscriptions at par ($100 a share) for the preferred stock
of this company, which succeeded to the property of the
Taylor Grain Co. (see V. 81. p. 618, 844, 1677). An adver­
tisement says:

fered . —Henry

Common stock, S150.000: preferred stock, 6% cumulative, with the fur­
ther right to "participate equally in anv earnings after 10% has been paid
to the common stock." SI 50,000. No bonded debt. Our mill of 1,200 bar­
rels dally capacity, just completed, and our 350.000-bushel capacity ter­
minal elevator are located on the three great trunk lines of the State. We
will have our own grain elevators In the great wheat belt. Executive Board:
H. Parker, Chairman Executive Board, President of the Parker Grain Co.,
Kansas City and McPherson, Kan ; W. L. Taylor President, late of the
Taylor Grain Co.: J. B. M. Wilcox, Secretary and Assistant Treasurer, for
eight years with the Kehlor Flour Mills of St. Louis; W. J. Raymond, Assist­
ant Secretary, for several years connected with the Mid-Continent Mills of
Topeka. Kan. Other directors: Vice-President, James Brunton, New
York: W. H. Foxall, Cleveland, O.: Edwin A. Austin, Topeka, Kan.

Refined lard has been dull and unchanged, with prices nomi­
nal in the main; Continent, 9.25c., South American 10c.
and Brazil in kegs 11c. The speculation in lard futures has
been fairly active, with more or less irregularity.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
S at.

M on.

September delivery____ 8.55
October delivery______ 8.87^ HoliJanuary delivery______ 7.973^
day.

T

ubs.

8.67J^
7.87^

W ed .

T h u rs.

8.65
8.65
8.72^ 8.72}^
7.92K 7.90

F r i.

8.60
8.65
7.82^

PORK has been steady, though the trading has been so
quiet of late that quotations are largely nominal. Small
sales are said to have been made at quotations low’er than
those reported; mess, new, $19@$19 50; clear, $17@$18 75;
family, $18 50@$19. Cut meats have been dull and easier;
pickled shoulders, 8)4@8)^c.; pickled hams, 12J/£@13c.;
pickled bellies, 14@10 lbs., 1 0 ^ @ ll% c. Beef has been
dull with slight changes in quotations; mess, $8; packet,
United States Packing Co.—Status.—This company adver­ $9@$9 50; family, $10 50@$11; extra India mess, $15 50@
tised for sale in May last $200,000 of its authorized issue of $16 50. Tallow has been in good demand and firm; City,
Stearines have been dull and steady; oleo,
$600,000 first mortgage 20-year 6% gold bonds, interest pay­
able July 1 and Jan. 1, at the Knickerbocker Trust Co., New 103^@103^c.; lard, 10)^c. Butter has been strong with a
1 ork City, trustee, each bond being accompanied by a 50% fair demand; Western extras, 2 4 } 4 @ 2 4 % c . Cheese has
bonus of common stock. The bonds are in denominations been fairly active and steady; State factory, 12%c. Eggs
of S100, 500 and $1,000 . The “ Wall Street Journal” says: steady with a fair trade, Western firsts, 21c.
Incorporated In New Jersey Oct. 20 1902; authorized capital stock,
OIL.—Cotton-seed has been more active with summer
54.000. 000, of which SI, 000,000 Is 6% preferred. Special concessions have
been obtained from the Government of Mexico and also the States of Micho- higher and winter steady; prime summer yellow, 37@38c.;
acan and VeraCruz, andjthe company is at present finishing a packinghouse prime winter yellow, 43@44c. Linseed has been quiet and
at Uruapan. In the former State. Upon the completion of this plant work steady; City, raw, American seed, 38@39c.; boiled, 39@40c.;
will begin upon the one on the eastern coast at Vera Cruz. The capacity of Calcutta seed, raw, 68c. Lard has been dull and somewhat
the former will be 2,000 animals a day and of the latter 1,000. The company
will distribute its product in refrigerator cars, and also expects to erect cold- easier; prime, 68@70c. Olive has been quiet and firm; crop
storage warehouses at central points from which it will furnish fresh meats, reports from Italy have been unfavorable; yellow, 55@57c.;
butter, eggs, chickens, etc., to the Mexican people on the American plan.
The principal financial interests are held In Chicago, 111., and Mexico City.
58@60c. Cocoanut has been quiet and steady;
New Yorkers on the board are George B. Luper, Samuel H. Buck, Richard green,
Wlghtman and Charles W. Dayton. Fred. W. Wilder, of Chicago Is Gen­ Ceylon, 7 ^ @ 7 % c . ; Cochin, 8J4@8)^c. Peanut has been
eral Manager.—V. 80, p. 2348.
steady with trade quiet; white, 55@65c. Cod has been
Westinghouse Air Brake Co — Increased D ivid en d . —The quiet and steady; domestic, 35@36c.; Newfoundland,
directors on Thursday declared a regular quarterly dividend 38 40c.
of 2M%> together with an “ extra” dividend of
and
COFFEE on the spot has been in moderate demand and
a “ special” dividend of 23^% , all payable Oct. 10 to stock­ steady; Rio No. 7, 8 % @ 8 % c . ; Santos No. 4, 8 ^ @ 8 ^ c.
holders of record Sept. 22. An “ extra” dividend of 2J^% West Indian growths have been firm with a fair demand;
was paid along with the regular 2J^% from April 1904 to fair to good Cucuta 9@9}^c. The market for future con­
July 1906 inclusive; from Jan. 1901 to Jan. 1904 the “ extra” tracts declined early in the day under the pressure of long
dividend was 3J^%. The dividends paid during 1906 ag­ liquidation for local and Wall Street account. Europe sold
gregate 22 y 2 % .
here, and the receipts at Rio and Santos continued on a
D iv id en d R ecord P r io r to 1906.
large scale. Of late, however, the market has been stronger,
Dividends.—
1 __to' 98. ’99. ’00. ’01 to ’03. ’04. 1905

Percent____ ___________J 20 yearly.
—V. 81, p. 973.

25

30

24

21

20

-—-S. Pemberton Hutchinson, son of the late Pemberton
S. Hutchinson, who was President of the Philadelphia Sav­
ings Fund, has been admitted to the firm of Cramp, Mitchell
<fc Shober, of 314 Chestnut St., Philadelphia. Mr. Hutchin­
son . who has been connected in important official positions
with the Pennsylvania, Baltimore & Ohio and Michigan
Central railroads, from which latter road he resigned as Gen­
eral Superintendent some months ago, has an intimate
knowledge of matters relating to railroad securities.
—A new building for the San Francisco branch of N. W.
Halsey & Co. is to be erected by the firm at 412-414 Califor­
nia Street. The structure will be four stories high and of re­
inforced concrete. It is stated that no wood whatever will
be used in the interior, the door casings and window frames
to be of metal to simulate bronze.
—Fisk & Robinson have issued a Government bond cal­
endar. It gives the dates for the payment of interest on all
issues; also the dates on which the books close in Washington
for the transfer of registered bonds. On the back of the cal­
endar may be found data concerning Philippine, Hawaiian
and other issues.
—The firm of Fred. II. Smith & Son has been formed at
60 Broadway to deal in stocks and bonds. Mr. Fred. Smith
is well known in Wall Street, where he has had a long and
varied experience in investments since 1865.

September____ 6.40c. [January_________6.75c. IMay ___________ 7.05c.
October_______ 6.50c. |February______ 6.80c. IJune.............. ....... 7.10c.
November_____ 6.60c. |March__________ 6.90c.|July _________ 7.15c.
December_____ 6.70c.|April___________7.00c. |August_________ 7.20c.

SUGAR.—Raw has been dull but firm, owing to an ab­
sence of offerings; centrifugals, 96-degrees test, 4c.; musco­
vado^ 9-degrees test, 3 13-32@3J^c.; molasses, 89-degrees
test, 3J4c. Refined has been quiet, though fairly large
withdrawals on old contracts are reported; granulated,
4.70@4.80c. Spices have been quiet and steady. Teas
have been in fair demand and generally firm. Hops have
been dull and firm.
TOBACCO has been active for domestic leaf with quota­
tions generally firm. Crop reports continue favorable in
the main, with good progress reported in harvesting.
PETROLEUM has been steady with a good demand.
The production in August showed an increase of 10,000
barrels per day over that of July. Refined, barrels, 7.50c.;
bulk, 4.40c.; cases, 10c. Naphtha has been fairly active
and steady; 73 to 76 degrees, 18c. in 100-gallon drums.
Gasoline has been active and steady; 89 degrees 21c. in 100gallon drums. Spirits of turpentine firm ai 64J^@65 .
Rosin steady at $4 10 for common to good strained.
COPPER has been less active but firmer; lake, 19c.; elec­
trolytic, 18%c. Lead has been fairly active and steady at.
5.90c. Spelter has been firm at 6.10c. Tin has been easier
on larger offerings; Straits, 40.40c. Iron has been less
active and steady; No. 1 Northern, $20 25(a:$20 75; No. 2
Southern, $19(g$20.

578

[VOL. LXXX1II.

THE CHRONICLE

O n S h ip b o a r d . N o t C lea re d f o r —

C O T T O N .

F r id a y N ig h t, S ep tem ber 7 1906.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For
the week ending this evening the total receipts have reached
73,061 bales, against 74,60-1 bales last week and 48,901
bales the previous week, making the total receipts since
the 1st of September 1906 73,061 bales, against 171,451
bales for the same period of 1905, showing a decrease
since Sept. 1 1906 of 98,390 bales.
R e c e ip ts at—

M on.

S a t.

T u es.

T hu rs.

W ed .

F r i.

S e p t.

7

a t—

G rea t
B r ita in . F r a n c e .

New Orleans..

G a lv eston ____

Savannah
Charleston___
M obile___ ___
Norfolk .
New York
Other ports.

793
9,758

855
7,802

900
500

100
—

1 C o a s t-

O th er
F o r e ig n

174
7,237
___
300 (

750

Total 1906
12,701
Total 1905
30,860
Total 1904. „ 39,193

1

Garm any.

600
600;

8 ,757 8,911
7,199 26,426
3,171
3,982 j

w is e .

L e a v in g
s to c k .

T o ta l.

27 3,175
2,352 31,289
900
1,000
200
200
___
600
1,650
7,345
7,345
3,700
2,166
___ | —
1,100

13,888
19,906
21,411
4,266
5,363
2,079
84,604
6,771

11,424 49,459
14,854 84,884
6,266 60,205

158,288
288,593
87,998

1 ,320 j
4,140
100

7,066
2,688
7,593

T o ta l.

The speculation in cotton for future delivery has been on
a
moderate
scale at gradually advancing prices. The rise
1,453
961
460
1,486
11
was due very largely to heavy rains in parts of Texas and
385
581
459
127
898
___
the Carolinas, with some reports of deterioration, not only
2,771
2,573
446 2,898
2,199
in Texas but in Tennessee, Mississippi and Alabama. More­
542
63
10 1
10
116
over, the Liverpool market has latterly shown greater
___
___
___
strength than had been expected, the spot business there
___
___
3
1
70
___
___
___
___
also increasing somewhat. Then again on Thursday a
49
327
179
123
171
tropical storm seemed to be threatened on the Atlantic
___
___
___
___
___
___
___
___
___
coast and some fears were entertained that it might extend
___
6
6
to the Gulf section. There has also been a certain nervous­
__ ___
10 2
10 2
25
—
—
25 ness among the short interest, owing to the fact that some
--A
—
9,164 10,900 13,481 11,329 12,978 15,209 76,130 of the bull operators have latterly taken the aggressive
Totals this wk_
because of the less favorable weather reports and persistent
rumors that the plant was deteriorating rather seriously
The following shows the week’s total receipts, the total in some sections, more particularly in Texas. These tactics
since Sept. 1 1906, and the stocks to-night, compared with have been favored by the usual disposition to liquidate
accounts on the eve of Government reports, two of which
last year:
are expected on the 10th inst, one from the Agricultural
Department at Washington on the condition of the plant,
1906.
1905.
S to c k .
and another from the Census Bureau on the quantity ginned
R e c e ip ts to
T h is
S in ce S ep
T h is
S in c e S e p
S e p t. 7.
up to September 1. As a rule the cotton trade believes that
w eek .
1 1906.
week,.
1 1905.
1906.
1905.
the crop outlook is in the main favorable, but the short side
67,799
47,649 59,082
Galveston47,649
51,195
66,823 seems to have become somewhat congested and some of the
137
137
491
Port Arthur, &c.
268
5,966
5,966
7,707
7,707
17,063
44,734 bull operators here and at the South, as well as Liverpool,
New Orleans___
4,034
2,849
3,877
2,849
Mobile _
___
7,013
6,069 have acted accordingly. To-day prices declined, partly be­
50
50
Pensacola, & c __
64,746
Savannah _ _
13,973
22,411
13,973 57,904
72,850 cause the fears of a tropical storm on the Atlantic coast
327
454
1,512
1,114 proved to be unfounded.
Moreover, the weather in Texas
1,227
9,405
Charleston . __
1,227
10,160
4,466
11,895 was better and for the most part in the cotton belt generally,
___
_&_
2@^ _ ■ .__ _ BS£
Georgetown, &c_
The net
Wilmington . _
131
131 7,044
7,163
441
9,497 and not a few who bought on Thursday sold.
___
_____
___
___ _
Washington, &c_
advance
for
the
week
is,
therefore,
small.
Norfolk______ _.
920
6,867
920 6,660
9,324
16,420
Cotton on the spot, though quiet, responded to the rise
76
76
98
98
Newp ort News, &c.
46
46
New York
88,304 135,531 in futures, prices advancing 20 points; but to-day this was
6
6 1,073
Boston ____
2,005
3,860
1,354
102
186
2,285
4,597 lost, middling uplands falling back to the price of a week
Baltimore .
102
186
25
25
296
296
1,628
147 ago, 9.80 cents, in sympathy with a reaction in “ futures.”
Philadelphia___
The rates on and off middling, as established Nov. 18 1903
73,061
73,061 154,103 171,451 207,747 373,477
Total.. .
and reaffirmed Nov. 15 1905 by the Revision Committee,
at which grades other than middling may be delivered on
In order that comparison may be made with other years, contract, are as follows:
we give below the totals at leadingTports for six seasons:
Fair_________ c. 1.30 on IStrict low mid..o_ 0.14 ofl IMiddling tinged _e_ 0.12 ofl

Galveston .
Port Arthur, &c.
New Orleans..
Mobile_________
Pensacola, &c_
Savannah . ___
Brunswick.. .
Charleston___
Georgetown,
W ilm ington___
Washington, &c.
N orfolk......
NewportNews,&c
New York. ___
Boston
Baltimore_____
Philadelphia__

R e c e ip t s at —

8,294

1906.

5,453

1905.

9,701

0,843

1904.

8,007

1903.

9,291 47,649
137
137
5,966
1,595
399 2,849
____
____
3,086 13,973
___
____
395
1,227
____
_____
57
131
____
____
71
920
76
76
____
____

1902.

1901.

Galveston, &c
New Orleans.
Mobile
__
Savannah __
Charleston, &c
Wilming’n,&c
Norfolk _. _
N’port N.. &c.
All others___

47,786
5,966
2,849
13,973
1,227
131
920
76
133

59,350
7,707
3,877
57,904
9,485
7,044
6,669
98
1,978

65,877
7,455
2,613
43.081
4,749
1,727
2,898
52
4,653

9,063
2,560
1,350
18,128
1,108
4,046
578
123
289

60,623
23,342
2,613
35.718
8,193
15,465
5,994
968
1,769

23,646
14 570
1,807
11,013
1,308
1,180
3,930
108
3,909

Total this wk.

73,061

154,103

133,105

37,245

154,685

61,476

Since Sept. 1.

73,061

171,451

155,957

41,563

244,642

109,963

The exports for the week ending this evening reach a
total of 52,777 bales, of which 19,368 were to Great Britain,
500 to France and 32,909 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1906:
1

£•

I
E xports
pom —

W eek ending S ep . 7
E xported to —

Great
C onti­
B rita in . F r ’nce nent.

Galveston___ 18.-840
Pt. Arthur, &c.
New Orleans..
Mobile______
Pensacola___ —
Savannah ___
Brunswick___
Charleston___
Wilmington__
Norfolk_____
Newport News
New York __
292
Boston . _ .
36
Baltimore___
Philadelphia. _ ' ’ 200
Portland, Me..
San Francisco.
Seattle _____
Tacoma_____
Portland, Ore.
Pembina____
Detroit______
Total . . _ 19,368

1906.

Total.

500 20,772 40,112

From. Sept.

1 1906 to Sept. 7
E xported to —

Great
■Britain. F r a n c e .

18,840

C onti­
nent.

1906.

Total.

20,772

40,112

3,005

3",005

3,005

’ ¥,005

3’,248

3",248

’ ¥,248

’ ¥,248

500

_____
Ill'll m u
5,858 6,150
62
26

" ” 292
36

” "266

” 266

—

’ ~5~,85S
26

’ ¥,150
62
” “266

Strict mid. fair__ 1.13 on |Fully low mid___ 0.26 off: Strict low mid. ting 0.34 ofl
Middling fair____ 0.96 on ILow middling___ 0.38 off Low mid. tinged.. 0.50 ofl
Barely mid. fair.. 0.79 on jBarely low mid__ 0.55 ofliStrict g’d ord. ting 0.84 ofl
Strict good mid__ 0.62 on iStrict good ord__ 0.72 off Fully mid. stained 0.42 ofl
Fully good mid__ 0.53 on jFully good ord__ 0.86 off:Middling stained. _ 0.50 ofl
Good middling__ 0.44on|Good ordinary___ 1.00 off jBarely mid. stained 0.78 ofl
Barely good mid.. 0.33 on (Strict g'd mid.tgd. 0.30 on |Strict low m. stain 1.06 ofl
Strict middling
0.22 on|Good mid. tinged.
Even|Fully 1. m. stained 1.28 ofl
Middling_______
Basis |Strict mid. tinged. 0.06 ofl (Low mid. stained. 1.50 ofl

On this basis the official prices for a few of the grades for
the past week would be as follows:

Good Ordinary.
Low Middling
Middling
.
Good Middling
Middling Fair.

Mon.

Sat.

UPLANDS.
. ------------. —
-------

GULF.
Good Ordinary.. ---------Low Middling___
__ __
Middling
_ . . . . .
Good Middling
._ .
Middling Fair..
---------

H
O
L
I
D
A
Y

H
O
L
I
D
A
Y

Fri.

T ues.

Wed.

Thurs.

8.90
9.52
9.90
10.34
10.86

8.90
9.52
9.90
10.34
10.86

9 .0 0

9.62
10.00
10.44
10.96

8.80
9.42
9 SO
10.24
10.76

9.15
9.77
10.15
10.59
11.11

9.15
9.77
10.15
10.59
11.11

9.25
9.87
10.25
10.69
11.21

9.05
9.67
10.05
10.49
11.01

8.40
9,40
9.56
9.90

8.40
9,40
9.56
9.90

8.50
9,50
9.66
10.00

8.30
9,30
9.46
9.80

*

STAINED.
Low Middling. .
----Middling
Strict Low Mid. Tinged__
Good Middling Tinged-----

The quotations for middling upland at New York on
Sept. 7 for each of the past 32 years have been as follows:
1906.C-. 9.80
1905___ 10.90
1904___ 11.25
1903___ 12.50
1902___ 8J4
1901_______ 8%
1900______ 10 H
1899_______ 6H

11898.c_. 5 M
1897___ 7 H
1S96___ 814
1895___ 8 H
1894_____ 6 15-16
1893_____7 15-16
1892_____ 7 3-16
1891_____8 13-16

1882_e. . 12 13-16
1890-C..10H
1881___ 12V S
1889___ 11 H
1888___ 10 7-16 1880___ 11 11-16
1879___ 12 K
1887___ 10 Vs
1878___ 12
1886___ 9 H
1885___ 10 1-16 1877____ i i ys
1876___ 11 9-16
1884___ 10^
1883___ 10H
I 1875___ 1 4 %

MARKET AND SALES.
mi

500

32,909 52,777

Total 1903___ 32,302 14.295 40,128 86,725

500

32,909

52,777

32^302 14,295

40,128

86,725

19,368

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.

S pot M a rket
C lo s e d .

Saturday .
Monday . .
Tuesday . .
Wednesday
Thursday .
Friday-----

Quiet, 10
Quiet .
Quiet, 10
Quiet. 20

pts. a d v ..
. _______
pts. adv__
pts. d e c ..

F u tu r e s
M a rket
C lo s e d .

Holiday____
Holiday____
Steady_____
Steady______
Steady_____
Barely steady

S a le s o f S p o t a n d C o n tr a c t.
C onE x p o r t s u m 'n .

____

138
300
600

C on­
tra ct.

’ 766

T ota l.

’ 766

138
300
600

438 1,300 1,738

CQ

co

2

r>»
X

»-*

'

O-« =
~ V
-N,
w

M o v e m en t

^
R e c e ip ts

T o w n s.

S. §
”Z

~CTj

-t-5

W e ek .

c©

0

-+ £

0 rG
72 ,g
.50 0
G —
«3 CO
-G
^ " 0
0 + * -G
fe CO s0 rv
0 ^
w
bjC
r, 5
i.

1

w
H
— •0%

2 _o
0
«-*-

t

£

O 0

32
O
f—I

*

S to ck s.

S h ip ­

CO — *
a

0 o

,849
9
94
858
155
9
,293
436
927
697
25
,647

Georgia

Kentucky, net
Louisiana____
Mississippi___

2,849
9
94
858
155
9
6,293
436
927
697
25
1,647

1 ,587

T exas..

1.412
4,505
2,059
167
12,828
1,357
1,465
291
9,881
3,339
2,885
1,061
75
2,306
128
156

"4 8 0

" 480

51, i 60

sV.ioo

S h ip -

S to ck s

m erits.

S ep t.

W eek .

"486
55,694
263

"486
"4 8 6
65,464 56 147 28.745
44
219
263

69,277 100,711 118,090

132,495 97,460 152,670

1 .0 1 1

803
747
829
4,487
357
483
1,009
75
1,180

10 0

10 0

50
484

24", 844

48,456

'** ® .& I
§> - g *
-t3
rG 0

8.

1,825
9,269
4,732
11
474
2,609
1 228
918
25,183
4,941
3,857
196
28
579
62
150
400
1,179
106
272
64
2,989
241
1,461
723
1,348
151
1,286

" ’ 480

73,712

73,712

S e a s o n .

8 1905.

1,675
8,769
4,349
11
374
2,409
1,228
818
23,683
4,666
3,151
191
28
569
34
150
350
1,179
106
272
64
2.825
88
426
723
1,319
104
1 ,086

50
734;

30
1,351
203
381
159
159

R e c e ip ts .
W e ek .

514
592
983
295
15
"3 0
1,351
2,413 12,439
444
203,
110
5,536
40
3811
2.413
511
159!
5,809
20
159
642
1,705
1 ,298
" 1~,587

50
734
M issouri_________
North C a ro lin a ..___
O h io _______________
South Carolina_____
Tennessee__________

7.

.

456
2,144
2,199

10 0

10 0

Total, 33 towns

o

2 ,6 8 6

,6 8 6

Arkansas

W e e k

633

633

Alabama

Eufaula,
Montgomery,
Selma,
Helena,
Little Rock,
Albany,
Athens,
Atlanta,
Augusta,
Columbus,
Macon,
Rome,
Louisville,
Shreveport,
Columbus,
Greenville,
Greenwood,
Meridian,
Natchez,
Vicksburg,
Yazoo City,
St. Louis,
Raleigh,
Cincinnati,
Greenwood,
Memphis,
Nashville,
Brenham,
Clarksville,
Dallas,
Honey Grove,
Houston,
Paris,

S ea so n .

S e p t.

S ep t.

m en ts.

a:
p, ^
0 2
03 * 0
0

.

Afotxfflen^

7 1906,

S ep tem b er

TO

G 0 H
G
’*■' w
r 0

0

to

o G H
o
-4-j
02
r~*
G

-f3
G

"2
^

-+-5

G 10
rG CO
r

S a tu r d a y ,
S e p t.

O

1.

M o n d a y ,
S e p t.

3.

0

T u e s d a y ,
S e p t.

W e d n e s d a y ,

4 .

S e p t.

F r id a y ,

T h u rsd a y ,

5.

S e p t.

6.

S ep t.

7.

v v e e ic .

O
w

<*

Sep/.—
Range
Closing
Oc/.—
Range
Closing
X
—
0
Range
p!
Closing
Oh D e c .—
Range
bX)
•m J a nClosing
.—
X
0
Range
Closing

£
0
£;

F e b .—

cj
p
G
H
rG
bXj
B
1
1
CO
PH
r<*

W
tJ j

k-H

Range
Closing
M a r c h —
Range
Closing
A p r il—
Range
Closing
M a y —
Range
Closing
J u n e —
Range
Closing
J u lu —
Range
Closing
A u g u s t—
Range
Closing

8,64 @ 8,78
8.72— 8.74

@ 8,80
8,63 @ 8,65 —
8.66— 8.70 8.76— 8.80

8.63 @ 8.64 8.63 @ 8.80
@
8.60— 8.62 —

8.81 ® 9.00
8.96— 8.97

8.81 (a) 89.0
8.90— 8.91

8 88 @ 9.08
9.00— 9.01

8.84 @ 8.98 8.81 @ 9.08
—
—
8.84— 8.85 —

8.93 © 8 97 8.99 @ 9.16 9.06 © 9.07 8.89 © 9.16
—
—
8.99— 9.01 9.09— 9.11 8.95— 8.97 —
© 9.29
9.00 @ 9.21 9.02 © 9.10 9.07 © 9.29 9.06 @ 9.20 9.00 —
—
9,16— 9.17 9,09— 9,10 9,21 — 9,22 9.06— 9.07 —
© 9.37
9.10 @ 9.29 9.11 Cd} 9.19 9.16 @ 9.37 9.13 © 9.28 —9.10 —
—
9.26 9.18— 9.19 9.28— 9.29 9.13— 9.14
9.25
——
— 9.15 @ 9.25
©
— ©
0.15 <g> — 9.24 © 9.25
—
—
9.32 9.25— 9.27 0.35— 9.37 9.18 — 9.20 —
9.30
8.89 ® 9.05
9.06— 9.07

HOLD

HO LI-

DAY.

DAY.

9,26 © 9,33 9 ,33 © 9,51 9.26 © 0.41 9.24 © 9.51
—
—
9.32— 9.33 9.41 — 9.42 9.26— 9.27 —
— —
— —
— —
—
—
©
©
—
®
©
©
—
—
9.20 —
9.39— 9.41 9.33— 0.35 0.42— 9.43 9.27
9.24 fa. 9,40
9.38— 9.39

9.31 ® 9.48 9.34 © 9.40
9.46— 9.47 9.40— 0.41

9.36 © 9.50 9.31 © 0.58
—
—
9.36- 9.37 —
— —
—
—
©

9.39 © 9.58
9.49— 9.50

_

©

__

©

— —*

©

—

(8 )

— —

©

__ —

©

9.53 © 9.61 —
©

— —

9.53 © 9.01

©

—

©

— —

©

—

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580

THE CHRONICLE

Q U O T A T IO N S F O R M ID D L IN G C O TTO N A T O T H E R
M A R K E T S .— B elow are the closing quotations o f m iddling
cotton at Southern and other principal cotton m arkets for
each day o f the week:
Week Ending
Sept. 7 .

Closing Quotations [or Middling Colton on—
Sat'day.

Monday. Tuesday. Wed’day. Thursd'y. Friday.

G a l v e s t o n ____
N e w Orleans.
M o b i l e . _ __
S a v a n n a h ____
Charleston.
Wilmington ._
N o r f o l k __ _ _ _ _
Boston
___ .
Baltimore
Philadelphia - _
Aug usta .. . .
M e m p h i s . ___
St. L o u i s _ _ _ _ _
Houston
_ _
Little R o c k ___

9 M
9 3-16
8 %
8H
8 M

9.80
9

H

9
9

%
%

10.15
9 3-16a
9 3-16
9

9 'A
9 Vs
%
15-16
M

8
8
8

9 5-16
9

%

K
15-16
8K-9
8
8

9

%

9

%

9

%

9

Vi

9
9

%
%

9
9

%
%

9.90

10.15
9 3-16a
9 3-16
9

9.90

10.25
9 5-16
9 %
9

9 15-16
9
9

Vt

9

%

9 1-16
8K-9
1 0 .0 0

9 %
1 0 . 0 ‘5
9 5-16a
9 y%
9
9
9

%
'A

aNew.

The closing qu otations to-d a y (F riday) at other im portant
Southern m arkets were as follow s:
A t l anta _____ 9 %
Columbus, G a .
Columbus, M i s s

IL o u i s v i l l e _ _ _ _ _ _ 1 0 K
IN a t c h e z _ _ _ _ _ _ _ _ _ _
|M o n t g o m e r y
9 1 - 1 6 |R a l e i g h _ _ _ _ _ 9
IShreveport____ 8 15-16
|N a s h v i l l e _ _ _ _ 9 ) 4

N E W O R L E A N S O P T IO N M A R K E T .— The highest,
low est and closing qu otations for leading options in the New
Orleans cotton m arket for the past week have been as follow s:
Sat'day,
Sept. 1.

Monday, Tuesday, Wed’day, Thursd’y, Friday,
Sept. 3. Sept. 4. Sept. 5. Sept. 6 . Sept. 7.

September— Uflj R.a.np-e
C l o s i n g ___

9 .15--9.16-.18

October—

Range .
C l o s i n g __ _ _ _

December—

R a n g e ..
Closing_____

January—
tJM,R a n g e

r C l o s i n g . . __
March— ~
R a n g e ___
C l o s i n g ____
Tone—

S p o t ..
___
O p t i o n s ____

HOLIDAY.

HOLIDAY.

9.02-.04 —
-.26
9.07-.09 9.16-.18

9.10-.15
9.06-.08

9.02-.16
9.13-.14

9.00-.09
9.06-.07

9.06-.24
9.13-.14

9.039.04-

9.03-.17
9.14-.15

9.03-.11
9.08-.09

9.09-.27
9.16-.17

9.06-.17
9.07-.08

9.09-.25
9.22-.23

9.12-.19
9.16-.17

9.19-.36
9.24-.25

9.14-.25
9.15-.16

9.20-.35
9.33-.34

9.23-.29
9.27-.28

9.31-.48
9.37-.38

9.26-.38
9.27-.28

Steady.
Qluet.

Easy.
Quiet.

Steady.
Steady.

Steady.
Steady.

W E A T H E R R E P O R T S B Y T E L E G R A P H .— Our a d ­
vices b y telegraph from the South this evening denote th at
rain has been general during the week b u t th at, excep t in
Texas and at a few points along the G ulf, the precipita­
tion has been light or m oderate as a rule. Texas advices
denote that dam age to open cotton has resulted from the
rain and that picking has been delayed, and deterioration is
com plained of in som e other localities. P ickin g, except
where interrupted b y w et w eather, has m ade g o o d progress,
b u t the m ovem ent of the crop is less free than a year ago.
Galveston, Texas.— Rains have dam aged open co tto n and
delayed picking. The w eek’s rainfall has been three hun­
dredths o f an inch on tw o days. The therm om eter has ranged
from 76 to 8 8 , averaging 82.
Abilene, Texas.— There has been rain on tw o days during
the w eek, the precipitation being one inch and fifty-tw o hun­
dredths. Average therm om eter 77, highest 90 and low est 64.
Brenham, Texas.— Rain has fallen on three days of the
w eek, to the exten t of one inch and ten hundredths. The
therm om eter has averaged 81, the highest being 91 and the
low est 70.
Corpus Christi, Texas.— There has been excessive rain on
tw o days of the w eek, rainfall being three inches and fifty
hundredths. The therm om eter has averaged 82, ranging
from 74 to 92.
Cuero, Texas.— It has rained on tw o days during the week,
the rainfall being one inch and fifty-five hundredths. The
therm om eter has ranged from 67 to 97, averaging 82.
Dallas, Texas.— It has rained excessively on fou r days of
the week, the precipitation being tw o inches and fourteen
hundredths. Average therm om eter 77, highest 95, lowest
59. Fort Worth, Texas .— W e have had rain on four days during
the week, the rainfall reaching one inch and seventy-six hun­
dredths. The therm om eter has averaged 79, the highest
being 94 and the lowest 64.
Henrietta, Texas.— There has been excessive rain on five
days during the w eek, the rainfall being tw o inches and ninety
tw o hundredths. The therm om eter has averaged 76, rang­
ing from 56 to 95.
Huntsville, Texas .— W e have had rain on one day the past
week, the rainfall being eighty-one hundredths of an inch.
The therm om eter has ranged from 6 8 to 94, averaging 81.
Kerrville, Texas.— W e have had rain on three days of the
w eek, the rainfall being one inch and forty-th ree hundredths.
A verage therm om eter 79, highest 94 and low est 63.
Lampasas, Texas.— W e have had rain on tw o days during
the w eek, the rainfall reaching sixty-three hundredths of an
inch. The therm om eter has averaged 81, the highest being
98 and the low est 64.
Longview, Texas.— There has been rain on three days dur­

[V O L . L X X X III.

ing the week, the precipitation reaching one inch and eightyeight hundredths. The therm om eter has averaged 82, rang­
ing from 6 8 to 95.
Luling, Texas.— W e have had showers on three days of the
past week, the rainfall being tw enty-tw o hundredths of an
inch. The therm om eter has ranged from 6 8 to 97, averaging
83.
N a c o g d o c h es, T e x a s . — It has rained on three days o f the
week, the rainfall reaching one inch. Average therm om eter
80, highest 93, low est 67.
P a le s tin e , T e x a s . — There has been rain on two days during
the week, the rainfall reaching one inch and tw enty hun­
dredths. The therm om eter has averaged 81, the highest
being 94 and the low est 6 8 .
P a r is , T e x a s . — There has been excessive rain on three days
during the w eek, the precipitation reaching tw o inches and
tw enty-nine hundredths. The therm om eter has averaged
82, ranging from 69 to 95.
S a n A n t o n io , T e x a s.- — There has been rain on three days
o f the past week, the rainfall being eighty-seven hundredths
of an inch. The therm om eter has ranged from 6 6 to 96,
averaging 81.
W e a th e rfo r d , T e x a s .— It has rained on four days o f the
week, the rainfall being one inch and forty-five hundredths.
Average therm om eter 81, highest 96, low est 65.
N e w O rlea n s, L o u i s i a n a . — There has been rain on four days
of the w eek, the precipitation reaching seventy-five hun­
dredths of an inch. The therm om eter has averaged 78.
S h rev ep o rt, L o u is ia n a . — R ain has fallen on three days the
past w eek, the rainfall reaching tv Tenty-eight hundredths of
an inch. The therm om eter has averaged 81, ranging from
6 8 to 94.
L e la n d , M i s s i s s i p p i . — There has been rain during the
week, the precipitation being fifty-on e hundredths o f an inch.
Average therm om eter 77, highest 91, low est 59.
W e have had
. 13 H e le n a , A r k a n s a s . — Crop ou tlook is b a d .
. 05
light
rain on tw o days during the past week, the rainfall being
tw enty-three hundredths o f an inch, and there are indications
of m ore. The therm om eter has ranged from 67 to 90, aver­
aging 74.
L ittle R o c k , A r k a n s a s . — Complaints of general deteriora­
tion from shedding, blight and worm s are becom ing m ore
pronounced. There has been rain on tw o days during the
week, the precipitation being nineteen hundredths of an
inch. A verage therm om eter 79.5, highest 90, low est 69.
M e m p h i s , T e n n e s s e e . — There are som e com plaints of dete­
rioration, b u t generally crop prospects are g ood . W e have
had rain on two days during the -week, the precipitation being
ten hundredths of an inch. The therm om eter has averaged
78.8, the highest being 89.7 and the low est 64.8.
N a s h v ille , T e n n e s s e e . — There has been rain during the
week, the rainfall being three inches and forty -tw o hun­
dredths. The therm om eter has averaged 80, ranging from
6 8 to 92.
M o b i le , A la b a m a . — Scattered showers in the interior the
latter part of w eek, w ith heavy precipitation in som e quar­
ters. Crop reports indicate serious deterioration. C otton
picking active. W e have had rain on three days of the w eek,
the rainfall being tw o inches and eighty-six hundredths. The
therm om eter has ranged from 6 8 to 93, averaging 81.
M o n t g o m e r y , A la b a m a . — W eather favorable for picking,
bu t the crop is late and shows marked deterioration all over
this section. Rain has fallen on three days during the w eek,
the rainfall reaching one inch and eighty hundredths. A ver­
age therm om eter 82, highest 94 and low est 6 8 .
M a d i s o n , F lo r i d a . — Prospects have n ot im proved since
last report. There has been rain on three days of the week,
rainfall being three inches. The therm om eter has averaged
79, ranging from 6 8 to 90.
A u g u s t a , G e o r g ia . — W e have had light rain on one day dur­
ing the past w eek, the rainfall being tw o hundredths of an
inch. The therm om eter has ranged from 70 to 92, averaging
81.
S a v a n n a h , G e o r g ia . — W e have had rain on fou r days the
past w eek, the rainfall being one inch and five hundredths.
Average therm om eter 82, highest 91, low est 72.
C h a rleston , S o u th C a r o lin a . — There has been rain on fou r
days during the w eek , to the extent o f th irty-fou r hundredths
o f an inch. The therm om eter has ranged from 73 to 92,
averaging 82.
1 G reen w ood , S o u th C a r o lin a . — There has been rain on three
days during the w eek , the precipitation being one inch. A ver­
age therm om eter 76, highest 84 and low est 6 8 .
S ta tebu rg , S o u th C a r o lin a . — C otton crop seems bou nd to
be very short in this section. W e have had rain on tw o days
during the -week, the precipitation being ninety-nine hun­
dredths of an inch. The therm om eter has averaged 79, the
highest being 90 and the low est 67.
C harlotte, N o rth C a r o lin a . — C otton is opening fast.
Rain
has fallen during the week to the extent of forty-on e hun­
dredths of an inch. The therm om eter has averaged 75, rang­
ing from 64 to 89.
The follow ing statem ent we have also received b y tele­
graph, showing the height o f rivers at the points nam ed
at 8 a. m . o f the dates given:
Sept. 7 1 9 0 6 .
Feet.

N e w Orl e a n s _________ A b o v e
M e m p h i s _____________A b o v e
Nashville........ ....Above
S h r e v e p o r t ____ _ _ _ _ _ _ A b o v e
V i c k s b u r g ___________ A b o v e

zero
zero
zero
zero
zero

of g a u g e .
of g a u g e .
of g a u g e .
ofg a u g e . ■
of g a u g e .

6.2
11.8
9.3
6.5
19.6

Sept. 8 1 9 0 5 .
Feet.

9.3 3
9.4
9.0
3.6
20.4
1•

I N D I A C O T T O N M O V E M E N T F R O M A L L P O R T S .—
The receipts of cotton at Bom bay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:

R eceip ts at—

\

1906.

Septem ber 6 .

581

THE CHRONICLE

S e i >t . § 1906. ]

W eek .

S in ce
S ep t. 1.

1005.
W eek .

4.000 17,000

4,000

1904.

Since
Sept. 1.

W eek.

17,000

W O R L D ’S _ S U P P L Y A N D T A K I N G S O F C O T T O N .—
The following brief but comprehensive statem ent indicates
at a glance the world’s supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or am ount
gone out of sight, for the like periods:

S in ce
S ep t. 1.

8 ,0 0 0

1906.

Cotton Takings.
W e e k a n d Season.

8 ,0 0 0

W eek .

S ea son .

1,784,156
E xp o rts fro m —

F o r the

Since

Week.

Great
B rita in .

Con­
tinent.

1 .0 0 0
6 ,0 0 0

1 2 ,0 0 0

13.000

1 ,0 0 0
1 ,0 0 0

1 ,0 0 0
1 ,0 0 0

Bombay—
1906__________
1905
1904__________
Calcutta—
1906
1905
1 904
Madras—
1906........_ _ .....
1905..................
1904
All others—
1906
__
1905
1904* ________
Total all—
1906...................
1905...................
1904

Great

T otal.

6 .0 0 0

1.

Con­
tinent.

T ota l.

1 ,0 0 0
6 .0 0 0

1 2 ,0 0 0

13.000
6 ,0 0 0

1 ,0 0 0
1 ,0 0 0

1 ,0 0 0
1 ,0 0 0

1 ,0 0 0

1 ,0 0 0

1 ,6 6 6

1,0 0 0

4,000
5 000

4,000
5,000

4,000
5,000

4,000
5,000

2 ,0 0 0

1 ,0 0 0
6 ,0 0 0

Britain.

S eptem ber

17,000 18,000
6 ,0 0 0

3,000

2 ,0 0 0

2 ,0 0 0

17,000

18,000

2 ,0 0 0

1 2 ,0 0 0

3,000

1,0 0 0
6 ,0 0 0

6 ,0 0 0

3,000

American In sight to Sept. 7----Bombay receipts to Sept. 6........
Other India shlp’ts to Sept. 6—
Alexandria receipts to Sept. 5 ..
Other supply to Sept. 5 -.a .
Total supply________

..

D ed u ct —
Visible supply Sept. 7 . -----

127,506
4.000
5.000
600
7.000

W eek .

1,784,156
127,506
4.000
5.000
600
7.000

S ea son .

2,545,470
220,938
17,000
0,000
700
7,000

2,545,470
245,863
17,000
6,000
700
7,000

1,928,262 1,928,262 2,797,108 2,822,033
1,732,689 1,732,689 2,546,642 2,546,642

Total takings to Sept. 7 ........-.
Of which American.__ __
Of which o th e r .__ __ . . .
a

1905.

195,573
161,973
33,600

195,573
161,973
33,600

250.466
182,766
67,700

275,391
207,691
67,700

Embraces receiptsJmEurope from Brazil, Smyrna, West Indies, &c.

E G Y P T I A N C O T T O N C R O P .— Under date of B oston ,
Sept. 4, Messrs. Choremi, Benachi & Co. tvrite as follows:

Mall advices of the 18th August from Alexandria continue reporting the
crop as progressing very favorably. The weather during August has been
most favorable and the crop has picked up a good deal of Its backwardness.
1 2 ,0 0 0
There were some rumors about fogs In one of the districts of the Interior3,000 which, however, have not been confirmed. The demand for very early
shipments Is good from most parts of the Continent and England.

1 According to the foregoing, B om bay appears to show' a
decrease compared with last year in the week’s receipts of
13.0 0 0 bales. E xports from all India ports record a gain of
6 .0 0 0 bales during the week and since Sept. 1 show an
increase of 6 ,0 0 0 bales.

S H IP P IN G N E W S .— A s shown on a previous page, the
exports of cotton from the United States the past week have
reached 52,7 7 7 bales.
The shipments in detail, as made up
from mailand telegraphic returns, are as follows:
Total bales.

NEW YlORK—To Liverpool—Sept. 1—Cevic, 252___ Sept. 6—
Ce tic, 40 foreign___________________ ___________________
292
To Bremen—Sept. 5—Main, 2,108_________________________ 2,108
To Antwerp—Sept. 1—Mohawk, 150_______________________
150
To Barcelon#—Sept. 5—Antonio Lopez, 3,050______________ 3,050
To Genoa—Sept. 6—Indiana, 550__________________________
550
NEW ORLEANS—To Hamburg—Aug. 31—Seville, 1,721___ Sept.
4—Caledonia, 134___________________ __________________ 1,855
To Venice—Sept. 6—Federlca, 300_________________________
300
To Trieste—Sept. 6—Federlca, 850_________________________
850
GALVESTON—To Liverpool—Aug. 31—Orion, 6,436___ Sept. 5—
Polycarp, 6,753_______________________
.13,189
To Manchester—Aug. 30—Teodoro de Larrlnaga, 5,651______ 5,651
1904.
To Dunkirk—Sept. 5—Cayo Gltano, 500____________________
500
To Bremen—Aug. 31—Inkum, 7,048___ Sept. 4—Chemnitz,
13,724 __________________________________________
20,772
19.000
SAVANNAH—To Bremen—Aug. 31—Claremont, 1,846_________ 1,846
19.000
To Hamburg—Aug. 31—Claremont, 252_______ ____________
252
To Warberg—Aug. 31—Claremont, 400_____________________ 400
To Gothenburg—Aug. 31—Claremont, 350_________________
350
To Norrkoptng—Aug. 31—Claremont, 100_________________
100
S in ce
T his
To Oxelsund—Aug. 31—Claremont, 100____________________
100
w eek. S ep t. 1.
To Ferrol—Aug. 31—Claremont, 200 _______________________
200
36
BOSTOH—To
Liverpool—Sept.
5—-Bohemian,
36_______________
___
To St. John—Sept. 3—Calvin Austin, 26_............................... _ 26
___
......... 200
4,750 4,750 PHILADELPHIA—To Liverpool—Aug. 31—Merion, 200
Total-........... ............. - ...............................................................52,777
4,750 4,750

A L E X A N D R I A R E C E IP T S A N D S H IP M E N T S O F
C O T T O N .— Through arrangements m ade w ith Messrs.
Choremi, Benachi
C o., of Liverpool and Alexandria, we
now receive a weekly cable of the m ovem ents of cotton at
Alexandria, E g y p t.
The following are the receipts and
shipments for the past week and for the corresponding week
of the previous twTo years:
A le x a n d r ia . E g y p t,
S ep t. 5.

1906.

(cantars a) —
This week . -------- . .
Since Sept. 1. ----------

R eceip ts

E xp orts

(bales)—

1905.
5.000
5.000

4.500
4.500
T his
S in ce
w eek. S ep t. 1.

S in ce
T his
w eek. S e p t. 1.

1.500

1,500

2,500
300

2,500
300

Total exports-------- —

4,300

4,300 12,750 12,750

a

1,750
4,000
5,000
2,000

1,750
4,000
5,000
2,000

Liverpool__________
Manchester________
Continent_________
America-----------------

To
To
To
To

A cantar Is 98 lbs.

COTTON
P R O D U C T IO N ,
D IS T R IB U T IO N
AND
M A N U F A C T U R E .— Our Annual Cotton Crop and Spinners’
R eport, which we have prepared so m any years, we give
to-day in the editorial columns of the “ Chronicle.”
JSJThe report covers, as usual:
(1) Our elaborate compila­
tion of the yield of cotton in the United States for the year
ending August 31 1906; (2) an exhaustive history of the
cotton-spinning industry of the United States for the same
year; (3) a similar review of the production of cotton goods
in Europe; (4) complete and detailed statem ents for a long
series of years of the consumption of cotton and the pro­
duction of cotton goods by the mills of the United States,
Great Britain, the Continent, and a briefer notice of the con­
sumption and production of every other minor manufacturing
State; (5) elaborate compilations of cotton supply and dis­
tribution, besides divers other matters connected with and
thro wring light upon the yield and uses of the staple— past,
present and prospective.

Exports on A ug. 31 not heretofore given bu t included in
1905-06 crop and therefore excluded from this statem ent:

NEW YORK—To Antwerp—Finland_______________ __________ 1,000
To Genoa—Prlnzess Irene_________________________________1,378
To Naples—Prlnzess Irene______ __________________________
126
BOSTON—To Manchester— Bostonian _________________________
53
The particulars of the foregoing shipments for the week,
arranged in our usual form , are as follows:
Great F r en ch
B rita in , ports,

Total______ 19,368

500 26,833

150 3,600 ...............
___ 1,150 . . .
...
......
...........................
1,150 ___
__
__
___
26 __
___
___
__
__

6,150
3,005
40,112
3,248
62
200

1,300

52,777

4,750

26

...

■Cotton freights at New Y o rk the past week have been as
follows, quotations being in cents per 100 lb s.:

Liverpool______ c.
Manchester ____ c.
Havre_________ c.
Bremen, prompt._c.
J U T E B U T T S , B A G G IN G , E T C .— The market for jute Hamburg______ c.
Antwerp_______ c.
bagging has continued quiet during the week, and prices are Ghent, via Ant__ c.
nominally unchanged at 8% c. for 1
lbs. and 9J^c. for 2 lb s., Reval, Indirect__ c.
Reval, via Canal..c.
standard grades. Jute bu tts also dull at 3 @ 4 c . for bagging Barcelona______ c.
Genoa, Sept____ c.
q u ality .
Trieste ________ c.
M A N C H E S T E R M A R K E T .— Our report received by Japan................ _c.
cable to-night from Manchester states that the market
a And 5%.
is firm for yarns and quiet for shirtings.
Merchants
are not willing to p a y ’present prices.
W e give the prices
for to-day below and leave those for previous weeks of
this and last year for comparison:

G er- — O th .E u rop e — M e x .,
m a n y. N orth . S ou th .
& c. J a p a n . T otal.

New York____
292 ___ 2,108
New Orleans... ___
___ 1,855
Galveston____ 18,840
500 20,772
Savannah.... .......................... 2,098
Boston ______
36 ___
___
Philadelphia
200 ___
___

M on.

H
o

L
I
D
A
Y

H
O
L
I
D
A
Y

T u es.

Wed.

a22H

a22H

17
17

17
17

25
25
20
26
27 @30

25
25
20
26
27 @30

30
20 @25
32
55

30
20 @25
32
55

Thurs.

F r i.

17
17 @20
<322 H
25
25
20
26
30

17 @20
17

26 H
@25
32
55

26 H
20 @25
32
55

20

a22H

25
25
20
26
27 @30

L IV E R P O O L — B y cable from Liverpool we have the following statem ent of the week’s sales, stocks, &c. , at that port:

Sept. 7.
Aug. 31.
.41317. 24.
A u g . 17.
36,000
23,000
29,000
Sales of the week----------- bales . 32,000
1,000
1,000
1.000
Of which exporters took.__ . 2,000
1.000
1905.
1906.
Of which speculators took .. _ 1,000
31 ,000
17,000
24 ,000
Sales, American..................... . 27,000
Corn
1 HH lbs. Shirt2,000
11.000
10,000
1 8H lbs. Shirt- C o in
Actual export........................ . 4,000
M id
54 ,000
inys. common
55,000
M id
32* Con.
41,000
32* Cop.
inys. common
Forwarded__________ ____ . 45,000
Upl's Total stock— Estimated......... .463,000
361,000
to Jtriesl
380,000
Twist
432,000
Upl's
Twist
to tines!.
287,000
261 ,000
328.000
Of which American— Est__ .356,000
d.
8. d.
d. h. d.
20,000
d. h. d.
A. |d.
14 000
Aug- d.
s. d.
21,000
Import of the week........ . 19,000
5.87 Total
9,000
9,000
3 9 5-16© 10H 0 7H ©9 8'A 5.0S8K
12,000
© 0 H A 4 ©9 4
.
10,000
Of
which
American__
_____
5.81
©9
4
60,000
4H
52,000
OH
6
10 9X
©10 9-16 6 7 ©9 8
47,000
5.68 8K
©
afloat......... .............. . 45,000
5.80 Amount
35,000
45,000
17 OH
© 10M 6 6 ©9 7
5.5M8K
© OH 6 3 ©9 3
26,000
\Jl which
nuiuu American______
AlUCUOttll................
O1UI/U
iwjvvv
~
—
_ . 628.000
Of
5.8/
24 9
© 10H 6 5 ©9 6
5.29I8K
© OH 6 3 ©9 3
5.83
The tone o f-th e Liverpool m arket for spots_ and futures
5.41 8 13-16© OH 6 3 ©9 3
31 8 15-16© 10H 6 4H©9 6
Sept
each day of the past week and the daily closing prices of
7 9
© lOH'6 4 ©9 6
5A58H
© OH 3 2 ©9 1H 5.56
spot cotton have been as follows:

582
S p ot.

Market,
12:15
P.M.

|VOL. LXXXIII.

THE CHRONICLE.
S a tu rda y.

]
1

M onday.

Dull.

T u esd a y.

Quiet.

[

Quiet.

W ed'd ay.

T hursday.

F r id a y .

Quiet.

Increased
Request.

Increased
Req uest.

Mid. Up ds

5.35

5.31

5-36

5.38

5.41

5.45

Sales........
Spec.&exp.

3,000
500

4,000
400

7,000
500

5,000
500

7.000
700

7.000
700

Easier.

Steady.

Steady
unch.to 2
pts. adv.

Quiet at
1% @3%
dec.

Firm at
11 @15%
adv.

F u tu res.

Market
opened,

j

Market,
4
P. M.

^ Quiet.
J

\

]

Easy
unch.

Quiet at
Quiet at
2 pts. adv. % @1 pt.
dec.

Quiet at 3 Very st’dy Firm at
@3% Pts. at 5 @6% % @4 pts.
dec.
pts. adv.
adv.

T h e prices o f fu tu r e s a t L iv e r p o o l fo r e a c h d a y are g iv e n
b e lo w .
P rices are o n th e b a s is o f U p la n d s , G o o d O r d in a r y
c la u se , u n less o th e r w ise s ta te d .

•T h e p r ic e s a r e g i v e n i n p e n c e a n d
a n d 00 m e a n s 5 OOcZ.
Sat.
S e p t.

12%
p.m.
d.

1.

12%
p.m.
d.

Mon.
3.

S e p t.

100th s.

T h u s{

Tues.

4 07 m ean s

W e I.
5.

S e p t. 4.

S e p t.

4 97-lOOd.,

Thurs.
6.

Fri.

S e p t.

S e p t. 7.

12% 4 12% 4 12% 4 12% 4 12% 4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.

d.

d.

d.

4 97
09
Sept_
93% 00
4 86%
84
96%
90
Sept.-Oct.
Oct.-Nov_
4 85% ____ 83
88 % 94%
4 85%
Nov.-Dec_
83% 89
94%
4 86%
90% 96
D ec. -Jan
85
92
4
88
86%
98
Jan.-Feb.
Feb.-Mch_
4 90
00
88% 94
Mch.-Apr. ___ 4 92
90% 96
02
4 93%
92
97% 03%
Apr.-May.
___ 93% 99
05
May-June. ___ 4 95
4 96%
June-July.
95
00% 06
July-Aug_

d.

02
93
90%
91
92%
94
96
98
99%
01
02%

d.

03
93
91%
91
93
95
97
99
00%
02
03

d.

05
94%
92%
93
94%
96
98
00
01%
03%
05

d.

09
99
96%
97
98%
00 %
02%
04%
06
08
09%

d.

09
98
95%
96
97%
99
01
03
04%
06%
08

d.

13
01
98
98
99%
01
03
05
06%
08%
10

BREADSTUFFS.
F rid a y , September 7 1 9 0 6 .
P rices fo r w h e a t flou r h a v e b e e n s ta tio n a r y as a ru le , w ith
th e tr a d in g s ta g n a n t.
T h e d u ln ess h a s b e e n so in te n se th a t
q u o ta tio n s h a v e b e e n n o m in a l in th e m a in .
T h e d o w n w a rd
tre n d o f th e w h e a t m a r k e t h a s e n c o u ra g e d b u y e r s to c o n tin u e
to h o ld a lo o f fr o m th e flour m a r k e t, a n d m ille r s, d e sp ite th e
d u ln e ss, h a v e sh o w n no d isp o sitio n to sh a d e q u o ta tio n s .
E x p o r t tr a d e , n o t o n ly h e re , b u t also a t th e p rin c ip a l cen tres
o f th e N o r th w e s t, is d e a d .
R y e flou r has b e en q u ie t a n d
s te a d y .
Corn m e a l h as ru led s te a d y w ith tr a d e d u ll.
W h e a t h a s c o n tin u e d g r a d u a lly to d e c lin e , m a in ly o w in g
to fa v o r a b le w e a th e r , s lo w ly in crea sin g re c e ip ts, d u ln ess as
a rule o f th e e x p o r t tr a d e a n d fa llin g fo re ig n m a r k e ts .
E urop t a n dealers a p p e a r to b e lie v e th a t th e A m e r ic a n crop is
la r g e , as it c e r ta in ly se em s to b e , a n d th a t it is to th eir in te r ­
e st to h o ld a lo o f, a t le a s t fo r a t im e , b e lie v in g th a t e v e n tu a lly
prices on th is side o f th e w a te r m u s t reach a still lo w er le v e l.
T h e flou r tra d e h a s c o n tin u e d d u ll a n d th e s p e c u la tio n in
w h e a t itse lf h as n o t b een on a large sc a le . O n th e c o n tr a r y ,
it h as la c k e d life a n d v i m .
T o all a p p ea ra n ce s th e g en e r­
a lity o f o p e ra to rs are m o re in c lin e d to a w a it e v e n ts th a n to
e n te r in to large e n g a g e m e n ts on eith er side of th e m a r k e t.
A t th e sa m e tim e it is w o r th y o f re m a r k th a t th e receip ts are
n o t in cre a sin g so ra p id ly as h a d b e e n p r e d ic te d , a n d th e sto c k
a t M in n e a p o lis h a s la tte r ly b e e n d e c rea sin g.
T h e w e a th e r ,
h o w e v e r, h a s b e e n v e r y fa v o r a b le fo r th re sh in g in b o th th e
A m e r ic a n a n d th e C a n a d ia n N o r th w e s t, a n d th e e x p e c ta tio n
is v e r y g en e ra l o f a co n sid e ra b le in crease in th e crop m o v e ­
m e n t in th e n ear fu tu r e .
T o -d a y , a lth o u g h prices d eclin ed
s lig h tly th ere w a s a te n d e n c y to ste d in ess b e ca u se o f so m e
r e v iv a l o f e x p o r t d e m a n d , th e sm a lln e ss of th e r e c e ip ts , and
th e fa c t th a t th e A r g e n tin e s h ip m e n ts fo r th e w eek w ere
s m a ll, a m o u n tin g to o n ly 8 2 4 ,0 0 0 b u s h e ls , a g a in st 1 ,0 4 8 ,0 0 0
in th e p rev io u s w e ek .
T h e sto c k a t M in n e a p o lis d u rin g th e
w eek h a s d e c rea se d , m o r e o v e r , so m e 8 2 5 ,0 0 0 b u s h e ls .

DAILY CLOSING PRICES OF W HEAT FUTURES IN NEW YORK.
S a t.

M on.

T u es.

W ed . T h u rs.

F r i.

No. 2 red winter
_ ..--7 8 %
78% 77% 7 7 %
7 1%
September delivery in elevator ---7 8 % Holi- 78% 77% 77% 77%
December delivery in elevator _ -__81% day. 81% 80% 80% 80 %
-__84%
84
May delivery in elevator _
83% 83 3^ 83
DAILY CLOSING PRICES OF W HEAT FUTURES IN CHICAGO.
September delivery in elevator
December delivery in elevator
May delivery in elevator _ _

S a t.

-_-7 1 %
-_-73%
---7 8 %

M on.

Holiday.

T u es.

70%
73%
77%

W ed . T h u rs.

70
72%
77

69%
72%
76%

F r i.

69%
72%
76%

In d ia n corn fu tu res h a v e m o v e d w ith in n a rro w c o n fin e s,
w ith th e tra d in g d u ll.
O n th e w h ole th e m a r k e t h a s sh o w n
a sa g g in g te n d e n c y , o w in g m a in ly to th e d ep ressio n in w h e a t
a n d th e v e r y fa v o r a b le crop rep o rts fro m all se c tio n s o f th e
b e lt .
T h e re ce ip ts o f old corn are in c re a sin g a n d a larger
m o v e m e n t is e x p e c te d s h o r tly .
T h e cash d e m a n d co n tin u e s
d u ll.
T h e c r o p , it is b e lie v e d , w ill b e safe fr o m d a m a g e b y
fro st in tw o w e ek s.
S e n tim e n t in th e tr a d e is b e a rish as a
rule on th e in d ic a tio n s of an e n o rm o u s c r o p , b u t th e s m a ll­
ness o f sto c k s a t C h icago m a k e s th e a v e r a g e o p e r a to r tim id
a b o u t sellin g fo r th e sh o rt a c c o u n t.
T o -d a y p rices declin ed
o n fa v o r a b le w e a th e r a n d cro p r e p o r ts , th e d ep ressio n in
w h e a t a n d liq u id a tio n .

DAILY" CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK
S a t.

Cash corn____ _______________
Seprember delivery in elevator
December delivery in elevator-

57%
55 %
52%

M on.

Holiday.

T u es.

56%
55%
52

W ed . T h u rs.

56%
55%
51%

56%
56
51%

DAILY' CLOSING PRICES OF CORN FUTURES IN CHICAGO
S a t.

M on.

T u es.

September delivery In elevator______ 4 7 %
47%
December delivery In elevator. _ ___ 43% Holi- 43%
May delivery In elevator.................. 4 4 %
day. 44

W ed . T h u rs.
47%
47%
42%
42%

43%

F r i.
47%
42%

43%

43

O a ts fo r fu tu r e d e liv e ry in th e W e s te r n m a rk e t h a v e b een
s o m e w h a t e asie r, o w in g to th e dep ression in o th e r cereals.
W i t h th e tr a d in g d u ll, h o w e v e r , a n d th e p ro sp e c ts for a m a te ­
rial sh o rta g e in th e y ie ld , th e ch a n g e s in prices h a v e b e en
u n im p o r ta n t.
R e c e ip ts are lig h t a n d th e cash d e m a n d h a s
b e en fa ir .
T h e m a r k e t h a s fe lt th e e ffe cts a t tim e s o f liq u i­
d a tio n in S e p te m b e r .
T o -d a y prices sh o w e d no n o te w o r th y
change.

DAILY CLOSING PRICES OF OATS IN NEW YORK.
S a t.

M on.

T u es.

W ed .

T h u rs.

F r i.

Mixed, 26 to 32 lbs____
35
35%-36 35%-36
35%
35 %
White clipped, 36 to 38
HoliIbs. ---------------------- 37%-38% day. 37%-39 37%-39
37-39
37-39
DAILY CLOSING PRICES OF NO. 2 M IXED OATS IN CHICAGO.
S a t.

September delivery in elevator
December delivery in elevator _
May delivery in elevator_____

M on.

30%
31%
33%

T u es.

30%
31 %
33%

Holiday.

F r i.

W ed . T h u rs.

29%
30%
33

29%
30%
32%

30
30 %
32%

T h e fo llo w in g are clo sin g q u o ta tio n s :

FLOUR.
Low grades------- ------- $3 00 @$3 30 Kansas straights______ $3 45 @$3 60
3 10 @ 3 25
Second clears.- --------- 2 50 @ 2 60 Kansas clears___ _
Clears------------------------ 3 40 @ 3 65 Blended patents___- _ _ 4 35 @ 4 90
Straights______________ 3 65 @ 3 75 Rye flour______________ 3 10 @ 4 00
Patent, spring------------ 3 75 @ 4 10 Buckwheat flour _ _ _ _ Nominal.
Patent, winter________ 3 90 @ 3 95 Graham flour. ________ 2 90 @ 3 75
2 75 @ 2 85
Kansas patents_______ 3 75 @ 3 80 C ornm eal_____
GRAIN.
Wheat, per bush.—
c.
Corn, per bush.—
c.
N. Duluth, No. 1_____ f.o.b.81%
No. 2 mixed _
f.o.b.56%
N. Duluth, No. 2_____ f.o.b.80%
No. 2 yellow ________ f.o.b.59%
No. 2 white_________ _ f.o.b.60
Red winter, No. 2_____ f.o.b.77%
Hard “
“
------- f.o.b.79
Rye, per bush.—
64
Oats— Mixed, bush.—
> No. 2 Western________
No. 2 white-------------- - Nominal.
State and J ersey_____ Nomina.
No. 2 m ixed ------------35 % j Barley— W estern________ Nominal
No. 2 white, clipped __
36% |Feeding________________ 39 @40
GOVERNM ENT W E E K LY
W EATHER
R E P O R T .—
M r. J a m es B e r r y , C h ief o f th e C lim a te a n d C rop D iv isio n of
th e U n ite d S ta te s W e a t h e r B u r e a u , m a d e p u b lic on T u e s d a y
th e te le g r a p h ic r e p o rts on th e w e a th e r in th e v a rio u s S ta te s
fo r th e w e ek e n d in g S e p t. 3 , su m m a r iz in g th e m as fo llo w s :

While the foreSpart of the week was unseasonably cool in the centra1
valleys and Lake region, as a whole the temperature conditions in the
districts east of the Rocky Mountains were favorable. Light frosts oc­
curred in the Dakotas and Minnesota, upper Michigan, and northern New
England. Over the southern plateau region the temperature averaged
unusually low, and light to heavy frosts occurred in Utah and Arizona.
Excessive moisture proved unfavorable in the Middle Atlantic States,
while the central Gulf States and parts of the Missouri Valley and New
England need rain. Elsewhere east of the Rocky Mountains the rains
have been generally well distributed, ample and not harmful. Little or
no rain fell on the Pacific coast and drought continues in Washington and
Oregon. During the greater part of the week there was much cloudiness
in the Middle and South Atlantic and East Gulf States, but elsewhere the
sunshine was generally ample. The week was almost wholly free from
local storms of severity.
T h e s ta te m e n ts o f th e m o v e m e n t o f b r e a d stu ffs to m a r k e t as
in d ic a te d b e lo w are p rep a red b y u s fr o m figures c o lle cte d b y
th e N e w Y o r k P ro d u ce E x c h a n g e .
T h e re ce ip ts a t W e s te r n
lak e a n d river p o rts fo r th e w e e k e n d in g la st S a tu r d a y a n d
since A u g . 1 , fo r each of th e la st th re e y e a r s , haYTe b e e n :
R eceip ts at —

Chicago___
Milwaukee. _
Duluth
Minneapolis.
Toledo
Detroit
Cleveland__
St. Louis__
Peoria____
Kansas City.

F lo u r .

W hea t.

60 lbs.
655.999
139,920
72,962
402,980
144,000
22.000
20,230
274.280
31,200
1,345,000

bbls.l96lbs. bush.

180,179
SO,150
135,000
600
5.300
1,224
42.200
54,000

C om .

Oats.

56 lbs.
1.821,587
27,550

bush.

B a r ley .

32 lbs.
2.125,905
327,900
134,054
360,590
519,300
67,700
313,418
683,200
336.000
192.000

bush.

39,220
106,000
40,383
97,720
633.255
282,700
236.000

R ye.

217,800
163,900
109,475
147,340

56 lbs.
30,000
20,800
13,415
14,540
7,400

1.000
1,300
33,000

7.000
9-900

bushA Slbs. Irn.

498,653 3.10S,571 3.2S4.415 5,060,067
673,815
Totwk.’06
392,762 5,555,155 4.287,005 5.016-684
994,498
Same wk. ’05
Same wk. '04
328,590 5.357,180 4,910,545 5.752,427 1.049.082
S in ce A u g . 1
1906____ 2,169,539 27.544.677 13,343,598 24,878,937 2,265 242
1905____ 1,775.947 27.015.922 17,422,891 28,763-847 2,S75.s72
1904____ 1.530,616 27.915,311 13,069.465 27,943.562 2.093,648

103.055
131,493
201,065
448.S56
587,860
688,485

T o ta l re ce ip ts o f flou r a n d g ra in a t th e se a b o a rd p o rts fo r
th e w e ek e n d e d S e p t. 1 1 9 0 6 fo llo w :
R eceipts at—

F lo u r ,
bbls.

W h ea t,
bush.

C orn ,
busk.

O ats,
bush.

B a rley,
bush.

R ye.
bush.

51.S00

975

213,700
4,928

751.300
94.142

16.798
81,700
31,518
68 571
81.000
41,000
6S.482
26.442

157-807
134,741
41,812
" 166,656
170.001
2.235

72.S61

54.195

3,652.308
634.137
1,430,1SS 2,352,852

1.51S.038
2.598.5S1

124,661
80,648

62.570
25,506

New Y o r k ____ __ 150,533
33,497
Boston
214
Portland _____
Philadelphia
__ 99..1S5
__ 76,336
Baltimore
4,260
Richmond
Newport News. ___ 14,239
12,262
New Orleans, a.
Galveston_____
28,901
Montreal- __
1.929
Mobile

595,400
151,300
64.000
305,324
190,721
11,840
56.000
793,500
1,138,000
319.223

Total week__ __ 421,356
Week 1905____ _. 343,784

4,172
3.228

a Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.

T o ta l receip ts a t p o r ts fro m J a n .
$ s fo llo w s fo r fo u r y e a r s :
R eceiots of —

Flour

1906;
_____________ bbls_ 10.9S5.538

1

to S e p t.

19057.123.405

W heat_____________ bush. 60.717,497
19,049,398
Corn
73.971,899
71.911.3S4
________________ 51,498,703
36-019.335
Oats
Barley
________________
7.730,234
4.733,944
Rye
1.005.S25277.105
Total grain_____________ 194.924.158

131,991.166

1 com p a re

1904.
11.S12.S50

1903.
14.063,006

30,768.246
37,779.149
29,871.182
2,128.588
556.968

68.261.065
73.521.313
35,705.979.
2,445.465
3,330.358

101,104,133

183,264.108

F r i.

56%
56
51

T h e e x p o r ts fr o m th e se ve ra l se a b o a rd p o r ts fo r th e w eek
e n d in g S e p t. 1 1 9 0 6 are sh o w n in th e a n n e x e d s ta te m e n t:

THE CHRONICLE.

Sept . 8 1906.]
Exports Iron —
N e w York,. ___
Portland_______
Bos ton________
Philadelphia___
Baltimore______
N e w p o r t N e w s __
N e w Orl eans___
Galveston______
Montreal_______
Mobile...... — .

Flour,
bbls

Corn,
bush.

ll'Acal.

bush.

03.309
214
22,956
39.217
35.963
14.239
24.782
4.805
29.244
1.929

267.3S4

691.929
64.000
299.747
332.203
136.000
56,000
666.447
694.480
543.004
.....

310
1.100

1,400
68,571
7.485
65.92S
17.065
26.442

4 5 5 . 6 S 5 2 4 2 . 60 S
T o t a l w e e k _ _ _ 0 .483 8 1 0
S a m e t im e 1905-- 757.741 1.662,971 144.640

Oats,
bush.

R ye Barley.
bush.
bush.

9. H. ) 1 5 . 9 4 5 1 4 . 4 0 3
_____
—
____
____
____
8.472
......
—
____
.....
40
_____
____
____
5,364
_____
____
____
177.292
25.963
2.235
....
....
2 0 2 .5S S 1 5 . 9 4 5 4 0 . 4 2 6
799.160 61.SS9 41.121

Peas ,
bush

4.032
____
____
____

____
2.082
____
....
6.114
S.132

T he destination o f these ex p o rts fo r the w eek and since
July 1 1900 is as b elow :
- - - - - Flour - - - - - - - - - - - - - Wheat- - - - - - - - - Week
Exports /or week and Sepl. 1.
since July 1 to—
bbls.

Since
July 1

1906.

bbls.

Since
July 1

Wee*
Sept. 1.

wee*

Sept. 1.
bush.

1906.

bush.

bush.

Corn - - - Since
July 1

1906.

bush.

214.133
127.S 7 9
06.546
41.317
5.810

1,920.121
3,632.727
98 922
3 2 S 152
13.666
137.045

T o t a l _ _ _ _ _____ 242.65S 1,565.301 3.4S3.S10 13.97S.0S1
455.6S5
Total 1 9 0 5 - - - . . . . -144.640
94S.173
757.741 3.2S3.454 1.662,971

6,130,633
9,637 706

U n i t e d K i n g d o m __ 131 .S O I
C o n t i n e n t .. . . . . . 70.639
So. a n d Cent. A m e r . H . 6 7 S
W e s t Indies_______ 23.497
Br i t . N o . A m . C o l s . . 1 , 6 8 6
O t h e r countries_ _ _
357

8.990.022
4.961.342
6.717

S 39 443 1.740,272
316.136 1,743,538
112.189
225.540
15.933
56.060

2 0 .0 0 0

T he visible su p p ly o f grain , com p risin g th e stock s in
granary at the prin cipal p oin ts o f a ccu m u la tion at lake and
seaboard p orts Sept. 1 1906, was as follow s:
Wheat,
bush.

Corn,
bush.

N e w Y o r k . . . . . . .... 1,169.000
a f l oat_ _ _ _ _ _
_____
Boston_____________
16S.000
Philadelphia________
366,000
B a l U m o r e . . . . . . . . . . . . 1,216.000
N e w Orleans________
SS3.000
Ga l v e s t o n _ _ _ _ _ _ _ _ _ _ _ 1,706,000
Montreal____________
363,000
T o r o n t o _____ ____ __________
Buflalo_____________
7S2.000
"
afloat_ _ _ _ _ _
_____
Toledo_____________
736,000
"
a f l oat _ _ _ _ _ _
_____
Detroit_____________
432,000
••
a f l oat_ _ _ _ _ _
_____
C h i c a g o _ _ _ _ _ _ _ _ _ _ _ _ _ S,4 7 6 , 0 0 0
•
afl oat_ _ _ _ _ _
_____
Milwaukee__________
365.000
a f l oat _ _ _ _ _ _
_____
Fort William________
265,000
Port Arthur_________
241,000
Dul uth_____________
307,000
"
a f l oat_ _ _ _ _ _
_____
Min n e a p o l i s _ _ _ _ _ _ _ _ _ _ 4,139,000
St . L o u i s _ _ _ _ _ _ _ _ _ _ _ _ 3 . S 2 3 . 0 0 0
■
a f l oat_ _ _ _ _ _
_____
K a n s a s City.. . . . . . . 2.20S.000
Peoria..............
173,000
Indianapolis_ _ _ _ _ _ _ _ _
529.000
O n Mis sissip pi R i v e r _ _
_____
O n J L a k e s _ _ _ _ _ _ _ _ _ _ _ _ 1.09S.000
O n C a n a l a n d R i v e r __
609,000

253.000

Total
Total
Total
Total
Total

Sept.
Aug.
Sept.
Sept.
Sept.

1
25
2
3
5

1906-.30.054.000
1906..31.229,000
1905--12 140.000
1904..12,814.000
1903--13.350.000

Oats,
bush.

4,000

2 S'66o

24".66o

Barley,
bush.

17,000

" "l",666

129.000
264.000
245.000

1.000

191.000
117.000
16,000
75,000

15,000

127 000

26,666

189,000

402’,666

20,000

1,325',666

38",666

" 2".666

12.000

240,000

9s’,66o

Rye.
bush.

430.000

47,665

30,666

63’,665

iiY.ooo

1 ,7 3 1 ",666

562",666

is"665

120 ’,666

6 T 066

30.000

205,000

134,000

313,000

8,000

142.000

299.000
186.000

89,000
7,000

137.000

24o",566

186:666

10,000

120.000

16,000

1,009 0 0 0
31,000

13.000

491.000
44.000

170,000
32,000

17,000

152.000
149,000

2,2 5 S , 0 0 0
2,507.000
4.615 0 0 0
3.987,000
6.447,000

6.742.000
5.870,000
11.946.000
9,506,000
7,446,000

1,431,000
1,357,000
848.000
1,036.000
64S.000

831.000
. 846.000
942,000
908.000
1,139,000

T H E DRY GOODS T R A D E .
New York, Friday Night, September 7 1906.
T he m ark et during th e p ast w eek has show n a h ealth y and
stead y ton e w ith a fair v olu m e o f business gen erally. B u y ­
ers, h ow ever, have been disposed to purchase o n ly fo r cu r­
rent needs, w hich are large; th ey a dm it som e lines are scarce,
b u t they still hesitate to cov er fu tu re requirem ents to any
great exten t. C onsiderable firm ness has been n oted in som e
divisions o f the co tto n good s m arket. T h e a d va n ce in the
p rice o f c o tto n , th ou gh m od era te, has stiffened the ideas o f
sellers, and th ey are pred ictin g an even stronger g oo d s m ar­
k et, ow in g to th e w ell-sold up con d ition o f m an y hues. B u y ­
ers fo r o u t-o f-to w n houses h ave been a ctiv ely seeking good s
for deliveries requested b y their firm s, and all s p o t g ood s have
been readily taken. Jobbers rep ort an increased business,
b u t n ot as m u ch as ex p ected ; there has been n o in clin a tion to
dispute p rices, b u t orders generally h ave been fo r small lots,
prin cipally from E astern houses. G ray g o o d s h ave been less
a ctiv e , and rather a qu iet p eriod is ex p ected since th e mills
are well sold and the G overn m en t crop report is pending; this
con d ition is also reflected in oth er divisions o f the m arket,
esp ecially in h ea v y g ood s sold from first hands. T he good s
are u rgently n eeded, b u t bu yers wish to feel m ore settled
a b o u t prices o f g ood s in w hich c o tto n form s a large part of
the cost.
D O M E S T IC C O T T O N G O O D S .— T h e ex p orts o f co tto n
good s from this p o rt fo r the week ending Sept. 3 were 9,803
p ack ages, valu ed at 8537,854, their destination b ein g to the
poin ts specified in the tables below :

qu ick delivery and are sending small lots to agents w h o have
hundreds o f cases ordered. D enim s are stron ger, w ith b u t
few concessions; m ills generally are sold ahead fo r tw o
m on th s, while som e m ills m ak in g finer g o o d s h ave all they
can to do fo r the b alan ce o f the y ea r. G ingham s are very
stron g, eq u ity gingham s h avin g been a d v a n ced t o 4 }/2C.,
and leading houses find it im possible to g iv e deliveries asked
on staple lines. Fine gingham s are selling well w ith jo b b e rs ,
plaid effects being the m ost p op u la r. Percales are scarcer
than they have been in m a n y years, and it is difficult to se­
cure any q u a n tity o f low tickin gs for qu ick d elivery.
P rint
cloths are qu iet b u t firm . T here has been no special in qu iry
from printers, w ho appear to h ave enough gra y g o o d s to carry
them through the n ex t m on th or so. C onverters are fairly
well su pplied, b u t are taking sp o t g o o d s when offered. In
the ex p ort m arket there has been som e R e d Sea business in
light sheetings, b u t there has been little new dem an d from
Shanghai. Trade w ith S ou th A m erica and the W est Indies
continues g o o d
W O O L E N G O O D S .— In itial business in m en ’s w ear is
n ow com p leted , althou gh there are occa sion a l open in gs o f
supplem ental lines. T h e sm o o th , h a rd -fa ced cassim ere
continues v ery p op u la r. W orsted s sh ow b u t little a ctiv ity ;
sam ple pieces are y e t to b e delivered from w hich the cloth ier
is to m ake his sam ple suits to b e show n on the ro a d , and until
this is done no v e ry h ea v y business is e x p e cte d in the m en ’s
wear m arket. T he o u tlo o k fo r ov ercoa tin g s is still uncertain ;
there is no in d ica tion as to w h at w ill b e the leader. In som e
quarters it is th ou gh t there will b e n o lead er, and if this p rov es
tru e, it will g ive the retailer a ch ance to clear up left-ov er
sto ck and any a ccu m u la tion o f staples. Dress g o o d s are
rather qu iet, b u t are e x p e cte d to p ick up soon . B road cloth s
still lea d , w ith voiles and panam as in secon d and th ird p lace,
resp ectiv ely . S trictly fa n cy w eaves ou tside o f the m ixtu re
suitings are n o t m eetin g w ith as m u ch success in the b etter
grade good s as are the fa b rics o f sim pler con stru ction . R a in cloth s have been b a ck w a rd , b u t are n ow open in g up and
som e substantial orders h a ve been received recen tly on cer­
tain lines,
F O R E IG N D R Y G O O D S .— T rad e in silks show s som e
im p rovem en t, b u t b u y ers still d isplay m u ch con servatism ;
plaids and b la ck taffetas are selling in a d v a n ce o f oth er lines
and a grow ing dem an d is n o te d for b e tte r class g ood s gener­
a lly. R a w silk m arkets in all p rod u cin g centres h ave a d ­
va n ced 5 to 10 cents a p ou n d in th e past w eek. Linens co n ­
tinue v ery strong at still higher prices, som e lines o f dress
linens having been w ith draw n fro m th e m ark et. Im p o rte d
w oolen and w orsted dress fa b rics are in fair dem an d . B u r­
laps are firm ly h eld, som e sm all lots b ein g sold at an an ad ­
v a n ce o f
e.
Im p orta tion s and W a reh ou se W ith d ra w a ls o f D r y G o o d s .
T he im p ortation s and w arehouse w ith draw als o f d ry g ood s
at this p ort for the w eek endin g Sept. 5 1906 and since
Jan. 1 1906, and fo r th e corresp on d in g period s o f last y ea r,
are as follow s:
&
&
M.
%
^&
-&
! g gE* §e-f- *O iP
o
a
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O
*d
sagp. & sP
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£
3
3 P
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to l\3 I OCCMClM

Ge tv O w
M Co I

New York, to September 3 .

Week.

Gre at Britain________________________
41
41
Other E u r o p e a n ____________
2200
C h i n a ____________
2,571
I n d i a _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ".11 ,, 00 4 0
A r a b i a ______________________________ 3,536
A f r i c a _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ “ “ .’.587
587
W e s t I n d i e s . . . . . . . . . . . . . . . . . . . . ~~I . 778877
M e x i c o ___________________________
C e n t r a l A m e r i c a _ _ _ _ _ _ _ _ Y I I I I I ' I I I I . 2 27 71 1
S o u t h A m e r i c a . . . . . . . . . . . . . . I l l I I I ! . 444411
Other Countries................
. 509
T o t a l -----------------

.9 , 8 0 3

960
1,082
78,372
7,740
34,824
7,868
18,309
1,452
10,346
37,062
11,810

209,825

Week.

4
18
2,724
129
754
720
520
44
1 205
1,650
225

6,893

873
599
92,908
9,743
18,474
7.910
20,546

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The value o f these New Y o rk ex p orts since January 1 has
been 811,961,620 in 1906, against 811,644,640 in 1905.
Buyere are experiencing difficulty in gettin g low lines of
bleach ed good s. Bleacheries are overrun w ith orders for

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584

T H E CHRONICLE.

[VOL. LXXXILL.

J u ly 14 1 9 0 6 a n d w ill m a t u r e $ 5 ,0 0 0 M a r c h 1 1 9 0 7 a n d $ 5 ,0 0 0
M a r c h 1 1 9 0 8 , t h e y b e i n g s u b j e c t t o c a ll, h o w e v e r , a t a n }t im e .

'lie (Pxnmicle.

2

PUBLISHED WEEKLY.

Terms ot Subscription—Payable in Advance
For One Year....................................................................................................... $10 00
For Six M onths..................................................................................................
6 00
European .subscription (including postage)............................................... 13 00
European Subscription Si; Months (including postage).....................
7 50
Annual Subscription in London (including postage)............................ £ 2 )4s.
Six Months Subscription m London (including postage)................... £ 1 11s.
S u b s c r ip tio n in c lu d e s f o l l o w i n g S e c tio n s —
B ank and Q uotation (monthly)
I State and C ity (semi-annually)
R a il w a y and I ndustrial (quarterly) ] Street R a il w a y (3 times yearly)
The R ail w a y and I ndustrial Section, issued quarterly, is furnished
w i t h o u t e x t r a c h a r g e to every annual subscriber of the Commercial and
F inancial Chronicle .
The State and City Section, issued semi-annually, is also furnished
w i t h o u t e x t r a c h a r g e to every subscriber of the CHRONICLE.
The Street Ra il w a y Section, issued three times a year, is likewise fur­
nished w i t h o u t e x t r a c h a r g e to every subscriber of the Chronicle .
The B ank and Q uotation Section, issued monthly, is also luxnished w i t h ­
o u t e x t r a c h a r g e to every subscriber of the Chronicle.

Terms of Advertising—Per Inch Space
Transient matter per inch space (14 agate lines).........
Two Months
( 8 times).
Stindino- Business
Months (26
(13 times).
tunes).
Standing
Business Cards
cam s J
■< a'llree
six Months
Twelve Months (52 times).

$4 20

22 00

29 0 0
50 00
87 00

CHICAGO OFFTCE—Pliny Bartlett, 513 Monadnoek Block.
LOND ON O FFICE —Edwards & Smith, 1 Drapers’ Gardens, E. C.
W I I j I jJ A M IS. D A N A

C O M P A N Y , P u b lis h e r s ,

P in e S tr e e t, C o rn er o f P e a rl S tree t,
P ost Office B o x 9 5 8 .

NEW

M U N IC IP A L

BOND

SALES

IN

AUGUST.

O u r c o m p ila t io n o f th e m u n ic ip a l b o n d
th e m o n th

Y O R K ..

d is p o s a ls d u r in g

o f A u g u s t r e v e a ls a n a g g r e g a t e o f $ 1 5 ,5 3 9 ,3 7 5

a s c o m p a r e d w it h $ 2 5 ,1 4 2 ,7 7 9 f o r J u ly o f t h e c u r r e n t y e a r
a n d w i t h $ 8 ,5 9 5 ,1 7 1 , t h e t o t a l f o r A u g u s t 1 9 0 5 .

W e a ls o

r e c o r d e d t h e n e g o t i a t i o n o f t e m p o r a r y lo a n s t o t h e a m o u n t
of

$ 7 , 6 0 5 ,0 0 0 , C a n a d ia n ; lo a n s

a g g re g a tin g

$ 1 , 3 1 4 ,7 6 8

and

$ 1 , 0 0 0 ,0 0 0 P h ilip p in e c e r t if ic a t e s , a ll o f w h i c h f o r m n o p a r t
o f o u r to t a ls .
T h e t e n d e n c y t o w a r d s h ig h e r r a t e s o f i n t e r e s t is e x e m p li f ie d
b y t h e s a le s m a d e b y t h e c it ie s o f B o s t o n , P i t t s b u r g h a n d
C in c in n a t i.

T h e $ 3 , 8 9 9 ,0 0 0 b o n d s a le b y t h e c i t y o f B o s t o n

w as p r o b a b ly

t h e m o s t in t e r e s t in g

o n ly b e c a u se o f th e

one

o f th e m o n th , n o t

e x c e p t i o n a l c h a r a c t e r o f t h e fin a n c ia l

c r e d i t o f t h a t c i t y , b u t a ls o b e c a u s e t h e c i t y w a s c o m p e l l e d
t o o f f e r 4 % b o n d s f o r t h e f ir s t t i m e in a d e c a d e , a ll p r e v i o u s
d is p o s a ls s in c e 1 8 9 6 h a v i n g b e e n o f 3 3 ^ %
p u rch a se rs w ere H a r v e y
and

t h e b a s i s o f s a le

F is k

& Sons o f

3 .9 0 % .

The

c ity

s e c u r it ie s .

The

N ew Y o rk

C it y

of

P it t s b u r g h

on

A u g . 2 a ls o p la c e d a t s l i g h t l y a b o v e p a r t w o is s u e s o f 4 %
b on d s to

t h e a m o u n t o f $ 1 ,5 0 0 ,0 0 0 , t h e p u r c h a s e r s b e i n g

N . W . H a r r is & C o . o f

C h ic a g o .

C i n c in n a t i, O h i o , e x p e r i ­

e n c e d m u c h d i f f i c u l t y in p l a c i n g s e v e r a l is s u e s o f 3 .6 5 s .

The

fir s t o f f e r i n g 'o f $ 1 , 2 5 0 ,0 0 0 w a t e r b o n d s o n A u g . 7 r e s u lt e d
in

t h e s a le o f o n l y

$ 2 4 5 ,0 0 0

to

lo c a l b a n k s a t p a r.

The

s e c o n d o f f e r i n g w a s o n A u g . 13 o f $ 7 5 0 ,0 0 0 a n d o n l y $ 6 7 ,5 0 0
w e r e d is p o s e d o f o n t h a t d a y , t h e o ff e r s c o m i n g f r o m lo c a l
in v e s to r s .

S u b s e q u e n t!y ,

h ow ever,

th e C ity

A u d ito r

w as

s u c c e s s f u l in s e llin g t h e b o n d s o v e r t h e c o u n t e r , t h e C o u n t y
C o m r fiis s io n e r s s e c u r in g t h e g r e a t e r p o r t i o n o f t h e s a m e .
The

num ber

of

m u n ic ip a litie s

n u m b r e o f s e p a r a t e is s u e s m a d e
221 a n d 3 2 0 r e s p e c t iv e ly .
f o r J u ly
F or

1 9 0 8 a n d w it h

c o m p a r a tiv e

s h o w in g

th e

e m ittin g

bonds

d u rin g A u g u s t

and

th e

1906 w ere

T h is c o n t r a s t s w it h 2 4 4 a n d 3 2 7
249

p u rp oses

a g g re g a te s fo r

and

346 fo r A u g u s t

we

add

th e

A u gust and

1905.

fo llo w in g

th e

t a b le ,

e ig h t m o n t h s

f o r a s e r ie s o f y e a r s :
M o n th o f
A u g u st.

1906
1905
1904
1903
1902
1901
1900
1899

____ $15,539,375
____
8,595,171
____ 16,124,577
____
7,737,240
____
8,009,256
____ 15,430,390
____
7,112,834
____
5,865,510

F o r th e
E ig h t M o s .

$142,987,081
131,196,527
187,226,986
102,983,914
108,499,201
84,915,945
93,160,542
S7,824 844

M o n th o f
A u g u st.

1898
1897
1896
1895
1894
1893
1892

____ $25,029,784
____
6,449,536
____
4,045,500
____
8,464,431
____
7,525,260
____
2,734,714
____
4,108,491

F o r th e
E ig h t M o s .

$76,976,894
97,114,772
52,535,959
80,830,704
82,205,489
37,089,429
57,340,882

O w in g t o t h e c r o w d e d c o n d i t i o n o f o u r c o lu m n s , w e a re
o b l ig e d t o o m i t t h is w e e k t h e c u s t o m a r y t a b le s h o w i n g t h e
m o n t h 's b o n d s a le s in d e t a il.

I t w ill b e g iv e n n e x t w e e k .

fiond Proposals and Negotiations
have been as fo llo w s:
Abbeville, L a .— C e r tific a te

this week

S a l e .— T h is
c ity
r e c e n tly
a w a r d e d $ 1 0 ,0 0 0 5 % w a t e r - w o r k s c e r t if ic a t e s t o t h e F ir s t
N a t io n a l B a n k o f A b b e v i l l e a t p a r .
S e c u r it ie s a r e d a t e d

Albany, Gentry County, Mo.— B o n d O j f e r i n j .— P r o p o s a ls
w ill b e r e c e iv e d u n t il S e p t . 11 b y J o h n S p e s s a r d , City C le r k ,
f o r $ 1 5 ,0 0 0 0 % c o u p o n w a t e r - w o r k s e x t e n s io n b o n d s .
D e­
n o m in a t io n $ 1 ,0 0 0 .
D a te S e p t.
1 1906.
I n t e r e s t s e m i­
a n n u a lly a t t h e F ir s t N a t io n a l B a n k in C h ic a o .
M a t u r it y
S e p t . 1 1 9 2 6 , s u b j e c t t o c a ll a f t e r f iv e y e a i s .
B o n d s are e x ­
e m p t fr o m ta x a tio n .
C e r t ifie d c h e c k f o r $ 5 0 0 , p a y a b le t o
A . W . H u t c h in s o n , M a y o r , is r e q u ir e d .
B o n d e d d e b t , in ­
c lu d in g t h is is s u e , $ 3 6 ,0 0 0 .
Alhambra City High School District, Los Angeles County,
Cal.— B o n d O f f e r i n g .— R e p o r t s s t a t e t h a t t h e B o a r d o f S u p e r ­
v is o r s w ill r e c e iv e p r o p o s a ls u n t il 2 p . in . S e p t . 17 f o r $ 5 ,0 0 0
b o n d s . D e n o m in a t i o n $ 5 0 0 .
M a t u r it y $ 5 0 0 y e a r l y b e g in ­
n in g S e p t . 17 1 9 0 7 .
A s s e s s e d v a lu a t io n f o r 1 9 0 5 $ 1 ,6 4 0 ,9 7 0 .

Alturas, Modoc County, Cal.— B o n d S a l e .— On A u g .
t o w n a w a r d e d a n is s u e o f $ 6 ,0 0 0 5 % b r i d g e b o n d s t o
B ow n er at p a r.
D e n o m in a tio n , t w e n ty -fiv e o f $ 1 0 0
an d seven o f $500 ea ch .
D a te A u g . 1 1906.
In te re st
a n n u a l.
M a t u r it y $ 5 0 0 y e a r l y f o r t w e l v e y e a r s .

1 t h is
E . C.
each
s e m i­

Annapolis, Anne Arundel County, Md.— B o n d S a l e .— O n
S e p t . 4 t h e $ 2 5 ,0 0 0 4 % 1 5 -y e a r ( a v e r a g e ) g o l d c o u p o n s t r e e t i m p r o v e m e n t b o n d s d e s c r ib e d in V . 8 3 , p . 3 3 7 , w e r e a w a r d e d
t o t h e A n n a p o li s S a v in g s I n s t i t u t i o n f o r $ 2 5 ,8 1 8 .
Arnprior, Q n t .— D e b e n tu r e O f f e r i n g .— P r o p o s a ls w ill b e
r e c e iv e d u n t il 8 p . m . S e p t . 11 b y W . M . H o w e , M a y o r , f o r
$ 3 5 ,0 0 0
4 J /£ %
d eb en tu res.
In te re st
a n n u a l.
M a tu r ity
t w e n t y y e a r s f r o m D e c . 15 1 9 0 5 .
Ashland County (P. O. Ashland), Ohio.— B o n d S a l e .—
O n S e p t . 1 t h e $ 2 8 ,0 0 0 4 % 2 2 -3 y e a r ( a v e r a g e ) c o u p o n J o s e p h
S h e e t D i t c h N o . 8 4 b o n d s d e s c r ib e d in V . 8 3 , p . 4 5 2 , w e r e
a w a r d e d t o t h e F a r m e r s ' B a n k o f A s h l a n d a t 1 0 0 .8 9 6 and
a c c r u e d in t e r e s t .
T h e f o l l o w i n g b i d s w e r e r e c e iv e d :
Farmers’ Bk., A sh lan d ..$28,251 00 Hoehler & Cummings, To­
First National Bank, Ash­
ledo ____________________ $28,002,50
land ___________________ 28.243 20 W . J. Hayes & Sons, Cleve_______ par

Ashtabula, Ashtabula County, Ohio.— B o n d S a l e .— O n
S e p t . 4 t h e $ 2 0 ,0 0 0 5 % c o u p o n P r o s p e c t S t r e e t p a v i n g b o n d s
d e s c r ib e d in V . 8 3 , p . 3 9 1 , -w ere a w a r d e d t o t h e N a t io n a l
B a n k o f A s h t a b u la a t 1 0 4 .1 2 5 a n d a c c r u e d in t e r e s t .
The
f o l l o w i n g b i d s w e r e r e c e iv e d :
.
National Bank of Ashta, W . J. Hayes & Sons, Clev_$20,530 00
bula, Ashtabula________$20,825 00 iNew First National Bank,
Otis & Hough, Cleveland. 20,604 75|
Columbus______________ 20,310 00

S e c u r it ie s m a t u r e $ 2 ,0 0 0 y e a r l y o n O c t .
1 9 1 5 i n c l u s iv e .

1 fr o m

1906 to

Athens, Athens County, O h i o .— B o n d S a l e . — On S e p t . 3
th e $ 1 ,5 0 0 5 % 2 - 4 - y e a r (s e r ia l) c o u p o n s e w e r - c o n s t r u c t i o n
b o n d s a n d t h e $ 3 ,5 0 0 5 % 5 - 1 1 -y e a r (s e r ia l) c o u p o n f u n d i n g
b o n d s m e n t i o n e d in V . 8 3 , p p . 4 5 2 a n d 1 7 1 , w e r e a w a r d e d
t o t h e S o m e r s e t B a n k o f S o m e r s e t a t 1 0 2 .3 5 3 a n d 1 0 8 .0 1
r e s p e c t iv e !} ! .
F o llo w in g are th e b id s :
$1,500
S ew er.

Somerset Bank, Somerset_________________________ $1,535 3#
Otis & Hough, Cleveland________________________
1,516 25
New First National Bank, Columbus___________
1,512 00
Brighton-German Bank, Cincinnati_____________ . 1,506 25
W eil, Roth & Co., Cincinnati___________________
Seasongood & Mayer, Cincinnati----------------------W . R . Todd & Co., Cincinnati__________________
Hayden, Miller & Co., Cleveland (both issues). .
-S 5 ,165

$3,500
F u n d in g .

$3,780
3,621
3,633
3.661
3,665
3.662
3,650
00-

35
75
00
50
40
75
00

B o n d S a l e .— O n S e p t . 3 t h e $ 3 ,1 0 0 5 % c o u p o n U n io n
S t r e e t p a v in g b o n d s o f f e r e d o n A u g . 11 ( V . 8 3 , p . 2 8 6 ) w e r e
a w a r d e d a t p r i v a t e s a le t o D . H . M o o r e a t p a r .
A x t e l l S c h o o l D i s t r i c t N o . 5 7 (P . O . A x t e l l ) , K e a r n e y
C o u n t y , N e b . — B o n d S a l e . — O n A u g . 2 5 t h e $ 4 ,2 9 7 5 %
coupon
s c h o o l - b u i l d i n g b o n d s d e s c r ib e d in Y . 8 3 , p . 3 9 1
w e r e a w a r d e d t o t h e F ir s t N a t i o n a l B a n k o f B a r n e s v ill e f o r
$ 4 ,3 3 8 a n d a c c r u e d in t e r e s t .
B e lla ir e , O h i o . — B o n d S a l e .— O n S e p t . 4 t h e $ 1 ,8 9 0 6 %
1 - 1 0 - y e a r (s e r ia l) U n i o n S t r e e t i m p r o v e m e n t b o n d s a n d t h e
$ 1 ,7 8 3 4 0 6 %
1 - 1 0 - y e a r (s e r ia l) T w e n t y - f i r s t S t r e e t i m ­
p r o v e m e n t b o n d s d e s c r ib e d in V . 8 3 , p . 3 9 1 , w e r e a w a r d e d
t o O tis & H o u g h o f C le v e la n d a t 1 0 3 .0 6 9 — a b a s is o f a b o u t
5 .3 5 % .
F o llo w in g are th e b id s :
Otis & Hough, Cleveland..$ 3,78 6 17 IBrighton-German B k., C in .$ 3 ,756 40
G. E. Bradfleld------------------ 3,784 4 0 1Hayden, Miller & Co., Clev. 3,748 40

A b i d w a s a ls o r e c e i v e d f r o m A . L a n g r e h r .
B e lle v ille S c h o o l D i s t r i c t N o . 118 (P . O. B e l l e v i l l e ) , St.
C la ir C o u n t y , 111.— B o n d S a l e .— O n A u g . 31 t h e $ 3 5 ,0 0 0 4 %
1 0 - 2 0 - y e a r ( o p t i o n a l ) s c h o o l - b u i l d i n g b o n d s , d e s c r ib e d in
V . 8 3 , p . 4 5 2 , w e r e a w a r d e d t o t h e B e l le v i lle S a v in g s B a n k
o f B e l le v i lle f o r $ 3 5 , 8 0 0 — a b a s is o f a b o u t 3 . 7 2 ) ^ % t o t h e
o p t i o n a l d a t e a n d 3 . 8 3 j / £ % t o f u ll m a t u r i t y .
B id s w e r e
a ls o r e c e iv e d f r o m t h e First, N a t io n a l B a n k o f B e l le v i lle ; t h e
B e lle v ille B a n k & T r u s t C o . o f B e l le v ille ; B r o w m e - E ll in w o o d
C o . o f C h ic a g o ; S . A . K e a n o f C h i c a g o , a n d R u d o l p h K l e y b o l t e & C o . o f C h ic a g o .
B e v ie r , M a c o n C o u n t y , M o . — B o n d s D e f e a t e d .— T h e e le c ­
t i o n A u g . 2 8 r e s u lt e d i n a v o t e o f 6 9 “ f o r ” t o 1 1 3 “ a g a i n s t ”
t h e p r o p o s i t i o n t o is s u e t h e $ 8 ,0 0 0 w a t e r - w o r k s b o n d s m e n ­
t i o n e d in V . 8 3 , p . 4 5 2 .
B l a s d e ll, E r ie C o u n t y , N . Y . — B o n d S a l e .— -O n A u g . 21
t h e $ 1 6 ,0 0 0 5 - 2 4 - y e a r (s e r ia l) w a t e r - w o r k s b o n d s d e s c r ib e d
in V . 8 3 , p . 3 3 8 , w e r e a w a r d e d t o G e o . M . H a h n o f N e w Y o r k
C i t y a t 1 0 0 .2 3 f o r 4 j ^ s — a b a s is o f a b o u t 4 . 4 7 9 % .

B ow b e lls, W a rd C ou nty, N. D a k . — B o n d Offering . — F u r ­
t h e r d e t a ils a r e a t h a n d r e la t iv e t o t h e o f f e r in g on. S e p t . 10

Sept. 8 1906.]

TH E CHRONICLE

o f th e 8 1 2 ,0 0 0 6 % g o ld w a t e r -w o r k s , s e w e r a g e a n d w a r r a n t fu n d in g b o n d s m e n t io n e d in ^ . S 3 , p . 5 1 1 .
P r o p o s a ls w ill
b e r e c e iv e d u n t il 10 a . m . o n t h a t d a y b y D . E . M c L e lla n ,
C ity A u d i t o r .
D e n o m in a t io n $ 1 ,0 0 0 .
D a te O c t. 1 1906.
I n t e r e s t a n n u a lly in B o w b e lls in N e w Y o r k E x c h a n g e .
M a­
t u r it y $ 3 ,0 0 0 in e a c h o f th e y e a r s 1 9 1 1 . 1 9 1 6 , 1921 a n d 1 9 2 6 .
B o n d s a re e x e m p t f r o m t a x a t io n .
C e r tifie d c h e c k f o r $ 5 0 ,
p a y a b le t o th e C it y A u d i t o r , is r e q u ir e d .
T h e c ity has no
o t h e r in d e b t e d n e s s .
B o y n t o n S c h o o l D is t r i c t ( P . O . B o y n t o n ) , C r e e k N a t io n ,
I n d . T e r . — B o n d O f f e r i n g .— P r o p o s a ls w ill b e r e c e iv e d u n t il
S p . m . O c t . 1 b y C. F . S e ls o r , T o w n R e c o r d e r , f o r $ 1 0 ,0 0 0
2 0 - y e a r s c h o o l- b u ild in g b o n d s a t n o t e x c e e d in g 6 % in t e r e s t .
N o d e b t a t p re se n t.
A s s e s s e d v a lu a t io n $ 1 5 9 ,4 0 0 ; r e a l v a lu e
a b o u t $ 5 0 0 ,0 0 0 .
B r a c k e n r id g e , A l le g h e n y C o u n t y , P a . — Bids Rejected.—
.All b id s r e c e iv e d o n A u g . 2S f o r th e $ 1 4 ,0 0 0 4 J ^ % 2 0 -y e a r
c o u p o n p a v in g a n d s e w e r b o n d s d e s c r ib e d in V . S 3 , p . 4 5 2 ,
w e re r e je c t e d .
C a m d e n , N . J . — Bond S a le .— T h e C ity S in k in g F u n d h a s
j u s t t a k e n a n is s u e o f $ 3 0 ,0 0 0 3 ) 4 % r e fu n d in g b o n d s a s a n
in v e s t m e n t .
T h e b o n d s w e re a w a r d e d o n A u g . 3 0 a n d t h e
p r ic e p a id w a s p a r .
D e n o m in a t io n $ 1 ,0 0 0 .
D a te S e p t. 1
1906.
I n te r e s t s e m i-a n n u a l.
M a t u r it y S e p t . 1 1 9 3 6 .
C a n t o n , S t a r k C o u n t y , O h i o .— B o n d S a l e .— T h e o n ly b i d
r e c e iv e d o n A u g . 27 f o r th e $ 1 ,4 0 0 1 -5 -y e a r (s e r ia l) C h a rles
S t r e e t i m p r o v e m e n t b o n d s a n d t h e $ 8 0 0 1 -1 0 -y e a r (s e r ia l)
S c h w a lm S t r e e t im p r o v e m e n t b o n d s d e s c r ib e d in V . 8 3 ,
p . 2 8 7 , w a s th a t o f t h e F ir s t N a t io n a l B a n k o f C a n t o n , w h ic h
in s t it u t io n o ffe r e d p a r f o r fiv e p e r c e n t s .
C e lin a S c h o o l D is t r i c t ( P . O
C e lin a ), M e r c e r C o u n t y
O h i o .— B on d O ffe r in g .— A n e r r o r h a v in g c r e p t in t o o u r it e m
la st w e e k o f t h e o ffe r in g o n S e p t. 14 o f th e $ 3 5 ,0 0 0 4 % s c h o o l
b o n d s , w e r e p e a t th e sa m e c o r r e c t e d .
P r o p o s a ls w ill b e re c e iv e d u n t il 10 a. m . S e p t . 14 b y W . W . S h o c k , C le rk B o a r d
o f E d u c a t i o n , f o r $ 3 5 ,0 0 0 4 % b o n d s .
A u t h o r it y S e c tio n s
3991 a n d 3 9 9 2 o f th e R e v is e d S t a t u t e s .
D e n o m in a t io n
$ 1 ,0 0 0 .
D a t e S e p t . 14 1 9 0 6 .
I n t e r e s t M a r c h 1 a n d S e p t. 1
a t th e o ffic e o f th e D is t r ic t T r e a s u r e r .
M a t u r it y $ 2 ,0 0 0
y e a r ly f r o m S e p t. 1 1917 t o S e p t . 1 1 9 33 in c lu s iv e a n d $ 1 ,0 0 0
S e p t . 1 1 9 3 4 . A d e p o s it o f $ 5 0 0 in c a s h is r e q u ir e d w it h e a c h
b id .
B la n k b o n d s t o b e fu r n is h e d b y s u c c e s s fu l b id d e r .
C h a r d o n , G e a u g a C o u n t y , O h i o .— B o n d S a l e .— O n S e p t . 4
t h e $ 3 ,5 0 0 5 % c o u p o n e le c t r ic - lig h t - p la n t - r e p a ir b o n d s a
d e s c r ip ;i . o f w h ic h w a s g iv e n in V . 8 3 , p . 3 3 8 , w e r e a w a r d e d
t o H a j 'd e n , M ille r & C o . o f C le v e la n d f o r $ 3 ,6 4 7 .
C h ester S c h o o l D is t r ic t (P . O . C h e s te r), T h a y e r C o u n ty ,
N e b . — B o n d s V o te d .— T h is d is t r ic t h a s a u t h o r iz e d t h e is s u ­
a n c e o f $ 8 ,0 0 0 s c h o o l- b u ild i n g b o n d s .
W e a re in f o r m e d
t h a t th e s e b o n d s w ill p r o b a b ly b e s o ld t o lo c a l p a r t ie s .

585

Kane A Co., Minneapolis__ $12,0601Farson, Son & Co., Chicago.$12,000
O. H. Coffin. Chicago.......... 12,025 Commercial Inv. Co., Duluth 1 2 , 0 0 0
J. M. Holmes. Chicago-------- 12,0001

D o u g la s C o u n t y (P . O . S u p e r io r ) , W i s . — B o n d S a l e . —
R e p o r t s s t a t e t h a t t h e $ 1 0 0 ,0 0 0 4 % g o l d c o u p o n in s a n e a s y lu m b o n d s o ffe r e d w it h o u t s u c c e s s o n A u g . 1 ( V . S 3 , p .
4 5 3 ) , h a v e b e e n a w a r d e d t o W . J . H a y e s & S o n s o f C le v e ­
la n d .
E a g le P a s s S c h o o l D is t r i c t ( P . O . E a g le P a s s ) , M a v e r ic k
C o u n t y , T e x . — B o n d s P r o p o s e d .— T h e q u e s t io n o f is s u in g
$ 3 0 ,0 0 0 s c h o o l- b u ild in g b o n d s is b e i n g c o n s id e r e d .
N o e le c ­
t io n h a s y e t b e e n c a lle d .
E lk in s , R a n d o lp h C o u n t y , W . V a . — B o n d s D e fe a te d . —
T h is to w n r e c e n t ly d e fe a t e d a p r o p o s i t io n t o issu e $ 6 0 ,0 0 0
w a t e r -s y s t e m b o n d s .
E l lw o o d C it y , L a w r e n c e C o u n t y , P a . — B o n d S a le .— O n
S e p t. 1 th e $ 1 5 ,0 0 0 4 J < j% 1 0 -2 0 -y e a r ( o p t i o n a l) s t r e e t , se w e r
a n d e le c t r ic -lig h t b o n d s d e s c r ib e d in V . 8 3 , p . 2 2 7 , w e re
a w a r d e d t o E m e r y ,'A n d e r s o n & C o . o f C le v e la n d a t 1 0 2 .7 3 3 .
T h e b id s w ere as fo llo w s :
Emery. Anderson & Co..Clev.$15,4101 W . J. Hayes & Sons, Cleveland ..p a r
Browne Elllnwood Co. Chic. 15 1671

E lm o r e , O t t a w a C o u n t y , O h i o .— B o n d S a l e .— O n A u g . 2 8
th e $ 2 ,0 0 0 5 % 1 -1 0 -y e a r (s e r ia l) c o u p o n s t r e e t - p a v in g b o n d s
a n d th e $ 4 ,0 0 0 5 % 1 -1 0 -y e a r (s e r ia l) c o u p o n s e w e r - c o n s t r u c ­
t io n b o n d s d e s c r ib e d in V . 8 3 , p . 3 9 2 , w e r e a w a r d e d t o th e
B a n k o f E lm o r e f o r $ 2 ,0 5 5 a n d $ 4 ,1 1 0 r e s p e c t iv e ly .
T h ese
sa les w e r e o n a 4 . 4 3 1 % b a s is .
E m s w o r t h ( B o r o u g h ) , A l l e g h e n y C o u n t y , P a . — B o n d S a le .
O n A u g . 30 th e $ 2 5 ,0 0 0 s e w e r , t h e $ 8 ,0 0 0 s t r e e t a n d t h e $ 2 ,0 0 0
fu n d in g 4 j ^ % b o n d s d e s c r ib e d in V . 8 3 , p . 4 5 4 , w e r e a w a r d e d
t o E . H . G a y & C o . o f P it t s b u r g h a t 1 0 1 .4 9 a n d a c c r u e d i n ­
te r e s t a n d c o s t o f p r in t in g b o n d s .
F o ll o w in g a re t h e b id s :
;

E. H . Gay & Co., Pitts__a$35,521 50 IHayden,Miller &Co.,Clev.$35,367 00
Hockler & Cummings, Tol. 35,587 50 ] W . J. Hayes & Sons, Clev. 35,000 00
a Accrued Interest and cost of printing bonds.

E s s e x C o u n t y (P. O . S a le m ), M a s s . — T e m p o r a r y L o a n . —
T h e $ 5 5 ,0 0 0 t e m p o r a r y lo a n m e n t i o n e d in V . 8 3 , p . 3 9 2 , h a s
b e e n n e g o t ia t e d w it h t h e C it y N a t io n a l B a n k o f G lo u c e s t e r
a t 4 . 8 5 % d is c o u n t .
L o a n is d a t e d S e p t . 1 1 9 06 a n d w ill
m a t u r e M a r ch 1 1 9 0 7 .
F a i r p o r t U n io n S c h o o l D is t r i c t No_. 9 (P . O . F a i r p o r t ) ,
T o w n o f P e r in t o n , M o n r o e C o u n t y , N . Y . — B o n d s N o t S o ld .—
N o a w a r d w a s m a d e o n A u g . 27 o f th e $ 7 ,5 0 0 b o n d s d e s c r ib e d
in V . 8 3 , p . 4 5 4 .
F is h t a il S c h o o l D is t r i c t N o . 13 (P . O . F is h t a il ) , C a r b o n
C o u n t y , M o n t . — B o n d N o t S o ld .— N o s a t is f a c t o r y b i d s w e r e
r e c e iv e d o n A u g . 2 4 fo r th e $ 1 ,0 0 0 1 0 -y e a r c o u p o n s c h o o l­
b u ild in g b o n d s (in te r e s t n o t t o e x c e e d 6 % ) , d e s c r ib e d in
V . 83 , p . 454.

C h ic o S c h o o l D is t r i c t , B u t t e C o u n t y , C a l.— B o n d Sale.—
F o s t o r i a , O h i o .— B o n d S a l e .— O n S e p t. 1 th e $ 7 ,0 0 0 4 %
T h e $ 2 5 ,0 0 0 5 % s c h o o l b o n d s a w a r d e d o n J u ly 7 t o t h e F ir s t 1 7 -y e a r c o u p o n r e fu n d in g b o n d s d e s c r ib e d in V . 8 3 , p . 3 9 2 ,
N a t io n a l B a n k o f O r o v ille a n d s u b s e q u e n t ly r e fu s e d b y t h a t w e r e a w a r d e d to th e M e c h a n ic s ’ B a n k in g C o . o f F o s t o r i a a t
in s t it u t io n (se e V . 8 3 , p . 3 3 8 ) w e r e r e -a w a r d e d o n A u g . 6 to 1 0 0 .3 5 7 a n d a c c r u e d in t e r e s t — a b a s i s o f a b o u t 3 . 9 7 1 % .
The
N . W. H a ls e y o f S a n F r a n c is c o a t 1 0 2 .0 0 4 — a b a s i s o f 4 . 7 4 6 % . b i d s w e r e as fo llo w s :
D e n o m in a t io n $ 5 0 0 .
D a te A u g . 1 1906.
I n t e r e s t s e m i­ Mechanics’ Banking Co. ,Fo»t_$7,025 |Commercial Bank & Savings
Hoehler & Cummings, Toledo. 7,000| Co., Fostoria______ ________ $7,000
a n n u a l.
M a t u r it y A u g . 1 1 9 1 6 .
F r e e d o m , P a . — B o n d O f f e r i n g .— P r o p o s a ls w ill b e r e c e iv e d
C la rk C o u n t y ( P . O . S p r in g f ie ld ) , O h i o .— B o n d Sale.— O n
S e p t . 1 $ 1 2 ,5 0 0 4 % b r id g e - r e p a ir b o n d s w e re a w a r d e d to u n t il S e p t . 17 b y G e o . J . M o h r , B o r o u g h S e c r e t a r y , f o r $ 4 ,0 0 0
D e n o m in a t io n $ 5 0 0 .
In ­
th e F ir s t N a t io n a l B a n k o f S p r in g fie ld f o r $ 1 2 ,5 0 7 a n d 4 J ^ % g r a d in g a n d p a v in g b o n d s .
M a t u r it y $ 5 0 0 y e a r ly o n O c t . 1 f r o m
a c c r u e d in t e r e s t .
D e n o m in a t io n $ 5 0 0 .
D a t e S e p t . 1 1 9 0 6 . j te r e s t s e m i-a n n u a l.
1 9 1 9 t o 1 9 26 in c lu s iv e .
B o n d s a re fr e e f r o m S t a t e t a x .
C e r­
I n t e r e s t s e m i-a n n u a l.
M a t u r it y S 5 0 0 e v e r y s ix m o n t h s fr o m
tifie d c h e c k f o r $ 2 0 0 r e q u ir e d w it h b id s .
M a rch 1 1 9 0 7 t o M a r c h 1 1919 in c lu s iv e .
F r e m o n t , N e b .— B o n d S a le .— O n A u g . 31 t h e $ 5 0 ,0 0 0 5 %
C o n n e a u t , A s h t a b u la C o u n t y , O h i o .— Bond Sale.— O n
S e p t. 3 t h e $ 1 0 ,5 0 0 5 % 4 % - y e a r (s e r ia l) c o u p o n s e w e r -c o n ­ 5 -2 0 -y e a r ( o p t io n a l) c o u p o n e le c t r ic - lig h t b o n d s d e s c r ib e d
s t r u c t io n b o n d s d e s c r ib e d in V . 8 3 , p . 4 5 3 , w e r e a w a r d e d t o in V . 8 3 , p . 4 5 4 , w e r e a w a r d e d t o W . J . H a y e s & S o n s o f C le v e ­
A b i d o f p a r w a s a ls o r e c e iv e d f r o m th e
th e C o n n e a u t M u t u a l L o a n & T r u s t C o . a t 1 0 3 .1 1 4 a n d la n d f o r $ 5 0 ,0 6 0 .
a c c r u e d in t e r e s t — a b a s is o f a b o u t 4 . 2 7 % .
F o llo w in g a re A m e r ic a n S e c u r itie s C o r p o r a t io n .
t h e b id s :
Conneaut Mutual Loan &
Well, Roth & Co., Clncin_$10.800
Trust Co. _____ _____ $10,827 00 Lamprecht Bros & Co.,
Brighton-GennanBk.,Cln_ 10,826 75
Cleveland______________ 10.762
R . Kleybolte & Co.. Cine. 10,817 5 0 iW . J. Hayes & Sons, Clev. 10,740
Hayden .Miller & Co.,Clev. 10,817 001 New First National Bank,
Otis & Hough, Cleveland. 10,804 50 i Columbus______________ 10,652

G r a h a m S c h o o l D is t r i c t , L o s A n g e le s C o u n t y , C a l.— B o n d
S a le .— O n A u g . 27 th e $ 1 2 ,5 0 0 5 % b o n d s d e s c r ib e d in V . 8 3 ,
5 0 ; p . 4 5 4 , w e re a w a r d e d , it is s t a t e d , t o J . W . P h e lp s o f L o s
00 i A n g e le s f o r $ 1 2 ,9 5 3 .

00

25

Cook County (P. O. C hicago), 111.— Bond Sale.— On Sept. 4
the $475,000 4 % 2-20-year (serial) gold coupon court-house
bonds dated Sept. 1 1905 and described in V . 83, p. 453, w e r e
awarded, it is stated, as follow s: Sherman W . H itch cock &
Co., $95,000 for $95,535 and $95,000 for $95,525; N. W.
Halsey & Co. of Chicago, $95,000 for $95,142 50; the First
Trust & Savings Bank of Chicago, 895,000 for $95,150 and
$ 9 5 ,0 0 0 for $95,160.
C oshocton, O h io.— Bond Sale.— On Sept. 5 $6,500 4 %
bonas were awarded to the Commercial National Bank of
Coshocton. D enom ination $500. Date Sept
1 1906.
Interest semi-annual.
D a w s o n , T e r r e ll C o u n t y , G a .— B o n d O ffe r in g . — P r o p o s a ls
w ill b e r e c e iv e d u n til O c t . 2 f o r th e $ 3 0 ,0 0 0 5 % s e w e r b o n d s
m e n t io n o f w h ic h w a s m a d e in V . 8 3 , p . 2 2 6 .
D e n o m in a t io n
$ 1 ,0 0 0 .
D a te N o v . 1 1906.
I n t e r e s t a n n u a lly in N e w Y o r k .
M a tu r ity $ 1 ,0 0 0 y e a r ly .
B o n d e d d e b t , in c lu d in g th is is s u e ,
$ 9 3 ,0 0 0 .
A s s e s s e d v a lu a t io n
$ 1 ,5 4 9 ,0 9 9 .
A ctu a l
v a lu e
{ e s t im a t e d ) $ 3 ,0 0 0 ,0 0 0 .
D e e r R iv e r T o w n s h ip (P . O . D e e r R i v e r ;, I t a s c a C o u n t y ,

M inn. — B o n d S a le .— O n A u g . 29 th e $ 1 2 ,0 0 0 6 % 8 -1 9 -y e a r
(se ria l) g o ld c o u p o n r o a d a n d b r id g e b o n d s d e s c r ib e d in V . 8 3 ,
p ■4 5 3 . w e r e a w a r d e d to K a n e & C o . o f M in n e a p o lis a t 1 0 0 .5 0 .
Bellowing are th e b id s :

G r a n d R a p id s , M i c h .— B o n d O f f e r i n g .— T h e C it y C o u n ­
cil h a s p a s s e d a n o r d in a n c e p r o v i d in g f o r th e is s u a n c e o f
$ 1 0 4 ,0 0 0 4 % c o u p o n o r r e g is t e r e d “ W e s t S id e B ig D i t c h ”
assessm en t b o n d s .
P r o p o s a ls f o r th e s e b o n d s a r e t o b e r e ­
c e iv e d u n til 4 p . m . S e p t. 17 b y J o h n L . B o e r , C it y C le rk .
D e n o m in a t io n $ 1 ,0 4 0 .
D a t e J u ly 16 1 9 0 6 .
I n t e r e s t J a n . 16
a n d J u ly 16 a t th e o ffic e o f t h e C ity T r e a s u r e r .
M a tu r ity
$ 1 0 ,4 0 0 y e a r ly o n J u ly 16 fr o m 1907 t o 1 9 1 6 in c lu s iv e .
C er­
t ifie d c h e c k fo r 3 % o f th e b o n d s b i d f o r , p a y a b le t o th e C ity
T r e a s u r e r , is r e q u ir e d .
G r a y v ille , W h it e a n d E d w a r d s C o u n t ie s , 111.— B o n d s
A u t h o r iz e d .— T h is c it y p r o p o s e s to p u r c h a s e t h e p la n t o f th e
G r a y v ille W a t e r W o r k s C o . o f C h ic a g o a n d is s u e $ 1 0 ,0 0 0
b o n d s to th e c o m p a n y in p a y m e n t f o r t h e s a m e .
G r e e n fie ld , A d a ir C o u n t y , I o w a . — B o n d E le c tio n .— L o c a l
p a p e rs s t a t e t h a t th e C ity C o u n c il h a s c a lle d a n e le c t io n f o r
S e p t . 10 t o v o t e o n th e q u e s t io n o f is s u in g $ 1 0 ,0 0 0 w a t e r w o r k s -s y s t e m b o n d s .
H a llo c k , K it t s o n C o u n t y , M in n .— B o n d O ffe r in g .— P r o ­
p o s a ls w ill b e r e c e iv e d u n til 7 p . m . S e p t . 15 ( t im e e x t e n d e d
fr o m S e p t . 3 ) b y N . G . B r o w n , V illa g e C le rk , fo r $ 1 0 ,0 0 0
4L >%
s e w e r -s y s te m b o n d s .
D e n o m in a t io n 8 1 ,0 0 0 .
D a te
S e p t. 3 1 9 0 6 .
I n t e r e s t s e m i-a n n u a lly .
M a tu r ity t w e n t y
years.
B o n d e d d e b t , in c lu d in g th is is s u e , $ 2 5 ,0 0 0 .
A s­
sessed v a lu a t io n fo r 1 9 06 $ 2 5 2 ,0 5 0 .

586
H a r r is b u r g , S a lin e C o u n t y , 111.— B o n d
r e c e n t ly d is p o s e d o f $ 1 6 ,0 0 0 s e w e r b o n d s .

[VOL. LXXXH1.

T H E CHRONICLE.
S a l e .— T h is

c ity

H u n t s v ille , W a lk e r C o u n t y , T e x . — B o n d s R eg istered an d
S o ld .— O n A u g . 27 th e S t a t e C o m p t r o lle r r e g is te r e d $ 8 ,0 0 0
4 h C % 1 0 -4 0 -y c a r ( o p t i o n a l ) w a t e r -w o r k s b o n d s d a t e d J u ly 1
1906.
T h e S t a t e S c h o o l F u n d p u r c h a s e d th e b o n d s o n th a t
d a y a t p a r a n d in te r e s t .
H u n t s v ille S c h o o l D is t r i c t (P . O . H u n t s v ille ) , W a lk e r
C o u n t y , T e x . — B o n d s R eg istered a n d S o ld .— O n A u g . 27 th e
$ 1 5 ,0 0 0 4 ) 4 % 1 0 -4 0 -y e a r (o p t io n a l) r e fu n d in g s c h o o l-h o u s e
b o n d s v o t e d o n M a y 24 a n d d a t e d J u ly 1 1 9 0 6 w e re r e g is te r e d
b y th e S t a t e C o m p t r o lle r .
O n th e s a m e d a y th e s e b o n d s
w e re p u r c h a s e d b y th e S t a t e S c h o o l F u n d a t p a r a n d in te r e s t .

Jay C o u n t y ( P . Q. P o r t l a n d ) , I n d . — B o n d O f f e r i n g .— P r o ­
p o s a ls w ill b e r e c e iv e d u n t il 2 p . m . S e p t . 2 5 b y th e C o u n t y
T r e a s u r e r f o r $ 3 0 ,0 0 0 6 % c o u p o n S a la m o n ia D it c h b o n d s .
D e n o m in a t io n $ 5 0 0 .
D a te S e p t. 25 1906.
I n t e r e s t s e m i­
a n n u a l.
M a t u r it y $ 6 ,0 0 0 y e a r ly f r o m N o v . 1 1 9 0 7 t o N o v . 1
1 9 11 in c lu s iv e .
J e f f e r s o n C o u n t y ( P . O . M a d is o n ) , I n d . — B o n d S a l e .— O n
S e p t . 4 $ 1 4 ,0 0 0 g r a v e l- r o a d b o n d s w e re a w a r d e d , i t is
s t a t e d , t o t h e M a d is o n S a fe D e p o s it & T r u s t C o . a t p a r .
K e llih e r , B e lt r a m i C o m it y , M in n .— D e s c r ip tio n o f B o n d s .—
W e a re in fo r m e d t h a t th e $ 5 ,0 0 0 w a t e r b o n d s r e c e n t ly a w a r d ­
e d t o th e S t a t e o f M in n e s o ta a t p a r f o r 4s a re d a t e d A u g . 24
1 9 0 6 a n d m a t u r e f r o m fiv e t o n in e y e a r s f r o m d a t e .
D e­
n o m in a t io n $ 1 ,0 0 0 .
I n t e r e s t a n n u a lly in J u ly .
K i n g C o u n t y ( P . O . S e a t t le ) , W a s h . — B o n d E l e c t i o n .— O n
S e p t . 12 a n e le c t io n w ill b e h e ld in th is c o u n t y t o v o t e o n th e
q u e s t io n o f is s u in g $ 5 0 0 ,0 0 0 4 % c o u p o n s h ip -c a n a l b o n d s .
D e n o m in a t i o n $ 1 ,0 0 0 .
M a t u r it y t w e n t y y e a r s .
K n o x v i lle S c h o o l D is t r i c t ( P . O . P it t s b u r g h ) , A lle g h e n y
C o u n t y , P a . — B o n d O ffe r in g .— P r o p o s a ls w ill b e
r e c e iv e
u n t il 10 a . m . S e p t. 15 b y J . T . G r im e s , T r e a s u r e r , f o r $ 2 5 ,0 0 0
4 % bonds.
M a t u r it y “ n o t e x c e e d in g t h ir t y y e a r s . ”
L a G r a n d e , U n io n C o u n t y , O r e .— B o n d S a l e .— T h is c it y
o n A u g . 1 a w a r d e d a n is s u e o f $ 3 0 ,0 0 0 5 % 1 0 -2 0 -y e a r ( o p ­
t i o n a l) r e fu n d in g b o n d s t o t h e E a s t e r n O r e g o n T r u s t &
S a v in g s B a n k o f L a G r a n d e a t 1 0 2 — a b a s is o f a b o u t 4 .7 4 7 %
t o t h e o p t io n a l d a t e a n d 4 . 8 4 3 % t o fu ll m a t u r i t y .
D e n o m i­
n a t i o n $ 1 ,0 0 0 .
D a te Ja n . 1 1907.
In te re st Ja n . 1 an d
J u ly 1.
L a g u n a S c h o o l D i s t r i c t , L o s A n g e le s C o u n t y , C a l,— B o n d
O ffe r in g .— I t is s t a t e d t h a t p r o p o s a ls w ill b e r e c e iv e d u n t il
2 p . m . S e p t . 17 b y th e B o a r d o f S u p e r v is o r s f o r $ 5 ,0 0 0 5 %
1 -1 0 -y e a r (se ria l) b o n d s .
D e n o m in a t io n $ 5 0 0 .
L a n d e r , W y o . — B o n d S a le .— W e a re ju s t a d v is e d t h a t th e
$ 2 5 ,0 0 0 6 % 1 0 -2 0 -y e a r ( o p t i o n a l) c o u p o n s e w e r a g e b o n d s
a n d t h e $ 5 0 ,0 0 0 6 % 1 0 -3 0 -y e a r ( o p t i o n a l) c o u p o n w a t e r ­
w o r k s b o n d s o ffe r e d o n J u ly 16 w e re .a w a rd ed t o S . A . K e a n
o f C h ic a g o a t 1 0 2 .
S e c u r itie s a re d a t e d J u ly 16 1 9 0 6 .
F or
o t h e r d e s c r ip t io n o f b o n d s see V . 8 3 , p . 5 4 .
L a w r e n c e C o u n t y ( P . O . B e d f o r d ) , I n d . — B o n d S a le .— O n
A u g . 2 4 a n is su e o f $ 5 ,7 0 0 F lin n T o w n s h ip g r a v e l r o a d b o n d s
w a s a w a r d e d t o B r e e d & H a r r is o n o f C in c in n a ti f o r $ 5 ,7 0 9 5 0 ,
a n d $ 1 7 ,0 0 0 G u t h r ie T o w n s h ip g r a v e l r o a d b o n d s w e re
d is p o s e d o f t o J . F. W i l d & C o . o f I n d ia n a p o lis f o r $ 1 7 ,0 2 5 .
L a w r e n c e C o u n t y ( P . O . I r o n t o n ) , O h i o .— B o n d S a le .—
O n A u g 25 $ 1 0 ,0 0 0 4 % 1 0 -y e a r b r id g e b o n d s w e re a w a r d e d
t o A . M . J oh n so n a t 102.
D e n o m in a t io n $ 1 ,0 0 0 .
D a te
S e p t. 1 1906.
I n t e r e s t s e m i-a n n u a l.
M a c le o d , A l b e r t a . — D eb en tu r es N o t S o ld .— N o s a le h a s y e t
b e e n m a d e o f t h e $ 9 5 ,0 0 0 5 % 4 0 -y e a r w a t e r - w o r k s , e le c t r ic lig h t a n d s e w e r a g e d e b e n t u r e s o ffe r e d o n J u ly 2 8 .
S ee V .
8 3 , p . 174.
M a d is o n C o u n t y ( P . O . L o n d o n ) , O h i o .— B o n d Y S a le.— O n
S e p t . 4 t h e $ 9 ,8 0 0 D o u g la s R o a d i m p r o v e m e n t a n d $ 3 ,4 0 0
K ilb u r y R o a d i m p r o v e m e n t 5 % c o u p o n b o n d s d e s c r ib e d in
V . 8 3 , p . 3 9 3 , w e r e a w a r d e d , i t is s t a t e d , t o J u d g e F u lt o n
o f C o lu m b u s f o r $ 1 3 ,3 0 0 .
B o n d s N o t S o ld — B o n d O ffe r in g .— N in e is su e s o f 5 % c o u p o n
d it c h - im p r o v e m e n t b o n d s , a g g r e g a t in g $ 1 4 ,3 0 0 , o ffe r e d o n
S e p t. 4 w ere n o t a w a rd e d .
L o c a l p a p e r s s t a t e t h a t th e s e
b o n d s a re b e in g r e -o ffe r e d a n d p r o p o s a ls w ill b e r e c e iv e d
u n t il S e p t . 2 4 .
M a d is o n S c h o o l D is t r i c t ( P . O . M a d is o n ) , J e ffe r s o n
C o u n t y , I n d . — B o n d s W ith d ra w n fr o m M a r k e t .— W e are
a d v is e d t h a t t h e $ 3 0 ,0 0 0 4 % s c h o o l- b u ild i n g b o n d s d e ­
s c r ib e d in V . 8 3 , p . 1 7 5 , h a v e b e e n w it h d r a w n f r o m th e
m a r k e t f o r th e t im e b e in g .
M a lo n e I n d e p e n d e n t S c h o o l D is t r i c t (P . O . M a lo n e ), H ill
C o u n t y , T e x . — B o n d s R e g istered a n d S o ld .— A n issu e o f $ 7 ,0 0 0
5 % 1 0 -4 0 -y e a r ( o p t io n a l) s c h o o l-h o u s e b o n d s o f th is d is t r ic t
d a t e d A u g . 1 1 9 06 w a s r e g is te r e d o n A u g . 27 b y th e S ta te
C o m p t r o lle r a n d w a s a w a r d e d o n th e s a m e d a y t o th e S ta te
S c h o o l F u n d a t p a r a n d in te r e s t .
M a n a s s a s , P r in c e W il lia m C o u n t y , V a .— B o n d O f f e r i n g .—
P r o p o s a ls w ill b e r e c e iv e d u n t il 8 p . m . S e p t . 15 b y W e s t w o o d
H u t c h in s o n a n d G . R a y m o n d R a t c l i f f e , C o m m it t e e , f o r
$ 5 0 ,0 0 0 4 % c o u p o n o r r e g is t e r e d w a t e r , e le c t r ic - lig h t a n d
s t r e e t - im p r o v e m e n t b o n d s .
D e n o m in a t io n $ 1 0 0 o r a n y
m u lt ip le n o t e x c e e d in g $ 1 ,0 0 0 .
D a t e , d a y o f s a le .
In terest
s e m i-a n n u a lly in M a n a s s a s .
M a t u r it y f o r t y y e a r s , s u b je c t to
c a ll a ft e r t w e n t y y e a r s .
C e r tifie d c h e c k f o r $ 5 0 0 , p a y a b le
t o t h e t o w n o f M a n a s s a s , is r e q u ir e d .
O fficia l c ir c u la r s t a t e s
t h a t d e fa u lt h a s n e v e r b e e n m a d e in a n y p a y m e n t a n d t h a t

t h e r e is n o c o n t r o v e r s y t h r e a t e n e d o r p e n d in g .
B onded
d e b t , th is
is s u e .
A s s e s s e d v a lu a t io n f o r 1 9 0 5 , $ 4 6 5 ,0 0 0
A c t u a l v a lu e (e s t im a t e d ) $ 8 0 0 ,0 0 0 .
j|[J
M a n it o w o c , W i s . — B o n d s R e f u s e d .— I r is s t a t e d t h a t th e
N a t io n a l B a n k o f M a n it o w o c , w h i c h in s t it u t i o n w a s a w a r d e d
o n J u n e 18 $ 5 0 ,0 0 0 4 % h a r b o r - im p r o v e m e n t b o n d s , h a s re ­
fu s e d t o t a k e t h e is s u e .
M a r io n , M a r io n C o u n t y , O h i o .— B o n d S a l e .— O n S e p t . 1
th e $ 1 0 ,0 0 0 4 ) 4 % 2 -1 1 -y e a r (s e r ia l) r e fu n d in g b o n d s d e ­
s c r ib e d in V . 8 3 , p . 4 5 5 , w e r e a w a r d e d t o R u d o lp h K l e y b o l t e
& C o . o f C in c in n a t i a t 1 0 0 .8 3
F o ll o w in g a r e t h e b id s :
R. Kleybolte & Co., Cin._$10,083
Well, Roth & C o., Clncin- 10,063
Hayden, Miller &Co.,Cleve 10,051
Brighton-German Bk., Cln. 10,050

00;Hoehler & Cummings,Tol.$10,037 5 0
00 IAtlas Nat Bank, Cincln
10 025 00
OOlOtls & Hough, Cleveland 10,013 7 5
251

I n a d d it i o n t o th e a b o v e , b i d s b a s e d o n 4 ) 4 % b o n d s w e re
r e c e iv e d f r o m t h e C e n tr a l T r u s t & S a fe D e p o s it C o . o f C in ­
c in n a t i a t 1 0 1 .5 5 a n d W . R . T o d d & C o . o f C in c in n a t i a t 1 0 1 .
M a r io n C o u n t y ( P . O . I n d i a n a p o l i s ) , I n d .— B o n d S a l e .—
O n S e p t . 1 th e $ 9 8 ,0 0 0 3 ) 4 % 5 2 -5 y e a r (a v e r a g e ) c o u p o n
v o t in g - m a c h i n e b o n d s d e s c r ib e d in V . 8 3 , p . 2 2 8 , w e re
a w a r d e d t o J . F . W i l d & C o . o f I n d ia n a p o lis a t 1 0 0 .6 2 7 a n d
a c c r u e d in t e r e s t — a b a s is o f a b o u t 3 . 3 7 % .
F o ll o w in g are
th e b id s :
J.F.Wiid & Co. ,lndlanap.$98,615 50 i E.D.Bush 6c Co. .Indlanap 598,350 00
Breed & Harrison, Cincln. 98,451 50 IU.S.Stand.VotlngMach.Co.98,000 00

M a r io n C o u n t y ( P . O . M a r io n ) , O h io .— B o n d O f f e r i n g .—
P r o p o s a ls w ill b e r e c e iv e d u n t il 12 m . S e p t . 15 b y th e B o a r d
o f F r e e T u r n p ik e D ir e c t o r s , c a r e o f J o h n H . C la r k , P r o s e ­
c u t in g A t t o r n e y , f o r $ 6 ,5 5 0 5 % c o u p o n D ic k a s o n F r e e
T u r n p ik e R o a d b o n d s .
A u t h o r i t y S e c t io n 4 8 0 8 o f t h e R e ­
v is e d S t a t u t e s .
D a te o f b o n d s S e p t. 1 1 9 06 .
I n t e r e s t s e m i­
a n n u a lly a t t h e o ffic e o f t h e C o u n t y T r e a s u r e r .
M a t u r it y
as f o llo w s :
8150
150
150
160
160
170
170
170
180
180
180

March
Sept.
March
Sept.
March
Sept.
March
Sept.
March
Sept.
March

1 1907
1 1907
1 1908
1 1908
1 1909
1 1909
1 1910
1 1910
1 1911
1 1911
1 1912

$190
190
190
2 00
200
210
210
220
220
230

Sept.
March
Sept.
March
Sept.
March
Sept.
March
Sept.
March

1 1912
1 1913
1 1913
1 1914
1 1914
1 1915
1 1915
1 1916
1 1916
1 1917

250
250
260
260
270
270
290
2.90
300

March
Sept.
March
Sept.
March
Sept.
March
Sept.
March

1918
1 1918
1919
1 1919
1 1920
1 1920
1 1921
1 1921
1 1922
1

1

C e r tifie d c h e c k o n s o m e b a n k in M a r io n f o r $ 1 0 0 , p a y a b le
t o th e B o a r d o f C o m m is s io n e r s , is r e q u ir e d .
B o n d s w ill b e
d e liv e r e d S e p t . 2 5 .
A c c r u e d in t e r e s t t o b e p a id b y p u r ­
ch aser.
B o n d S a le .— O n A u g . 18 t h e $ 9 ,0 0 0 5 % c o u p o n H in a m o n F r e e T u r n p ik e R o a d b o n d s a d e s c r ip t io n o f w h ic h
w a s g iv e n in V . 8 3 , p . 3 9 3 , w e r e a w a r d e d t o t h e B u c j n u s
C ity B a n k a t 1 0 2 .4 8 .
M a r lin t o n , W . V a . — B o n d S a l e .— O n S e p t . 1 t h e $ 7 ,5 0 0
6 % 1 0 -y e a r c o u p o n s t r e e t a n d s e w e r b o n d s a d e s c r ip t i o n o f
w h ic h w a s g iv e n in V . 8 3 , p . 4 5 5 , w e r e a w a r d e d t o t h e
B a n k o f M a r lin t o n a t p a r .
T h e r e w e r e n o o t h e r b id d e r s .
D a t e o f b o n d s S e p t . 15 1 9 0 6 .
M a r s h a ll, H a r r is o n C o u n t y , T e x . — B o n d s N o t to B e I s s u e d
a t P r e s e n t .— W e a re a d v is e d t h a t t h e $ 5 0 ,0 0 0 p a v i n g ,
$ 9 0 ,0 0 0 s id e w a lk a n d $ 4 5 ,0 0 0 c it y - h a ll b o n d s r e c e n t ly v o t e d
b y th is p la c e w ill b e is s u e d a b o u t J a n . 1 1 9 0 7 .
M id d le t o w n S c h o o l D is t r i c t ( P . O . M i d d l e t o w n ) , B u tle r
C o u n t y , O h i o .— B o n d S a l e .— O n A u g . 2 7 $ 6 8 ,0 0 0 3 . 6 5 %
c o u p o n h ig h - s c h o o l- b u ild in g b o n d s w e r e a w a r d e d t o th e
M e c h a n ic s ’ N a t io n a l B a n k o f M id d le t o w n a t p r iv a t e sa le .
A u t h o r it y S e c t io n s 3 9 9 1 , 3 9 9 2 a n d 3 9 9 3 o f t h e R e v is e d
S t a t u t e s a n d r e s o lu t io n o f t h e B o a r d o f E d u c a t i o n a d o p t e d
J u ly 2 0 1 9 0 6 .
D e n o m in a t i o n $ 1 ,0 0 0 .
D a te S e p t. 1 1906.
I n t e r e s t s e m i-a n n u a lly a t t h e N a t io n a l P a r k B a n k in N e w
Y o r k C it y .
M a t u r it y $ 1 ,0 0 0 S e p t . 1 1 9 2 3 , $ 3 ,0 0 0 y e a r ly
o n S e p t . 1 f r o m 1 9 2 4 t o 1 9 3 0 in c l u s iv e , $ 4 ,0 0 0 y e a r ly o n
S e p t . 1 f r o m 1931 t o 1 9 39 in c lu s iv e a n d $ 5 ,0 0 0 o n S e p t . 1
in e a c h o f th e y e a r s 1 9 4 0 a n d 1 9 4 1 .
B o n d s a re e x e m p t fr o m
t a x a t io n .
T h e s e s e c u r it ie s w e r e o ffe r e d o n A u g . 2 3 b u t n o
b i d s w e r e r e c e iv e d o n t h a t d a y .
M id lo t h ia n S c h o o l D i s t r i c t ( P . O . M id lo t h ia n ) , E llis
C o u n t y , T e x . — B o n d s V o te d .— T h is d is t r ic t r e c e n t ly a u ­
th o r iz e d t h e is s u a n c e o f $ 1 5 ,5 0 0 s c h o o l- b u ild i n g b o n d s b y
a v o t e o f 149 t o 2 1 .
M i n n e s o t a .— L o a n s .— A c c o r d i n g t o t h e “ S t . P a u l P io n e e r
P r e s s ” th e S t a t e B o a r d o f I n v e s t m e n t o n A u g . 21 g r a n t e d
t h e fo llo w in g lo a n s :
School districts: Special district of Faribault, $25,000; SS, Hennepin,
$4,000; 105, Nobles, $1,000; 270, Otter Tail. $200; 63, Dakota, $1,000,
96, Beltrami, $500; 84. Anoka, $700; 41, Marshall, $800; 4, Yellow Medi­
cine, $300; 21 Carver, $1,000: 44, Red Lake, $600: 36, Hubbard, $1,200
268 Otter Tall. $600- 2, Lyon, $1,000; 5S, St. Louis, $1,000; independent
White Bear, Ramsey, $800; 69, Anpka, $S00; 99, Lac qui Parle,S400; 13St. Louis, $2,000; City of St. Peter, $5,000: Aitkin County for ditch.
$8,000; Pope County for ditch. $ 1 0 ,0 0 0 ; Anoka County for two ditches,
$10,250: Bird Island village. S8-000; Brooten village, $2,000: Fountain
Village, $5,975; town of Farden, Hubbard County, $1,200; city of Hastings
$24 000: town of Stoner, $1 500. '

M o b ile , A l a . — B o n d S a le .— O n S e p t . 1 t h e $ 1 9 5 ,0 0 0 5 %
1 -1 5 -y e a r (s e r ia l) c o u p o n G o v e r n m e n t a n d D a u p h in s tre e ts
p a v in g b o n d s d e s c r ib e d in V . 8 3 , p . 3 9 4 , w e r e a w a r d e d t o
th e P e o p le ’ s B a n k o f M o b ile .
M o o r h e a d , S u n flo w e r C o u n t y , M i s s . — B o n d s N o t Y e t S old .
— W e a re a d v is e d t h a t t h e $ 1 5 ,0 0 0 6 % g o ld c o u p o n w a t e r ­
w o r k s b o n d s m e n t io n o f w h ic h w a s m a d e in Y . 8 3 , p . 2 2 9 ,
h a v e n o t y e t b e e n p la c e d .
M o r g a n C o u n t y ( P . O . M a r t in s v ill e ), I n d . — B o n d S a l e .—
O n S e p t. 5 th e $ 3 ,8 0 0 4 ) 4 % c o u p o n G r e g g T o w n s h ip g r a v e lr o a d b o n d s d e s c r ib e d in V . 8 3 , p . 5 1 4 , w e r e a w a r d e d t o th e
M e y e r -K is e r B a n k o f I n d ia n a p o lis f o r $ 3 ,8 1 2 5 0 ,
A b id of

Sept. S 1906.]

8 3 ,8 0 7 w a s a ls o r e c e iv e d fr o m J . F . W ild & C o . o f I n d ia n a p o ­
lis .
N a p a S c h o o l D is t r i c t (P . O . N a p a ) , N a p a C o u n t y , C a l.—
B o n d E le c t io n .— I t is s t a t e d in lo c a l p a p e r s t h a t th e B o a r d o f
S c h o o l T r u s te e s h a s d e c id e d t o c a ll a n e le c t io n t o v o t e o n th e
q u e s t io n o f is s u in g 8 1 0 0 ,0 0 0 s c h o o l- b u ild i n g b o n d s .
N a p o le o n U n io n S c h o o l D is t r i c t ( P . O . N a p o le o n ) , H e n r y
C o u n t y , O h i o .■— D e s c r ip tio n o f B o n d s .— W e a r e a d v is e d t h a t
th e 8 1 0 ,0 0 0 s c h o o l b o n d s th e s a le o f w h ic h w e r e c o r d e d l a s t
w e e k w e re d is p o s e d o f t o S e a s o n g o o d it M a y e r o f C in c in n a t i
a t p a r , a c c r u e d in te r e s t a n d b l a n k b o n d s fr e e o f c h a r g e —
s e c u r it ie s t o c a r r y 4 %
in t e r e s t .
D e n o m in a t i o n 8 1 ,0 0 0 .
D a t e J u ly 21 1 9 0 0 .
In te re st M arch a n d S e p te m b e r.
M a­
t u r it y 8 3 ,0 0 0 in 1 9 2 5 , 8 3 .0 0 0 in 1 9 26 a n d 8 4 ,0 0 0 in 1 9 2 7 .

N a s h v ille , B e r r ie n C o u n t y , G a .— B o n d O f f e r i n g .— P r o ­
p o s a ls w ill b e r e c e iv e d u n t il 7 :3 0 p . m . S e p t . 17 b y A . C.
S w e a t , T o w n C le r k , f o r th e 8 2 5 ,0 0 0 w a t e r - w o r k s a n d e le c t r ic lig h t a n d 8 5 ,0 0 0 s c h o o l- b u ild i n g 5 % 3 0 -y e a r b o n d s v o t e d
o n J u ly 16.
S e c u r itie s a re d a t e d N o v . 1 1 9 0 6 .
In te re st
a n n u a l.
C e r tifie d c h e c k f o r 8 5 0 0 o n t h e w a t e r -w o r k s b o n d s
a n d 8 1 0 0 o n th e s c h o o l- b u ild i n g b o n d s is r e q u ir e d .
A ssessed
v a lu a t io n f o r
1 9 0 6 . 8 5 0 0 ,0 0 0 .
R e a l v a lu e
(e s t im a t e d )
8 7 0 0 ,0 0 0 .
N e ls o n S c h o o l D is t r i c t N o . 2 4 3 , L a c o m b e , A l b e r t a . —
D eb en tu r e O ffe r in g . — P r o p o s a ls w ill b e r e c e iv e d u n t il 8 p . m .
S e p t. 2 5 b y A . M . M c D o n a ld , S e c r e t a r y - T r e a s u r e r , f o r
8 3 0 ,0 0 0 5 % d e b e n t u r e s .
M a t u r it y p a r t y e a r ly f o r t h ir t y
y e a r s b e g in n in g M a y 1 1 9 0 8 .
N e w Y o r k C i t y . — B o n d S a le s .— T h e f o llo w in g b o n d s w e re
t a k e n b y t h is c i t y ’s s in k in g fu n d s d u r in g t h e m o n t h s o f J u ly
a n d A u g u st:
P u r p o se.

R a te o f
In te rest.

M a tu r ity .

J u ly .

$10,000

20T 666

Assessment bonds_______________ 3 3

971,000

_

1955
335,000
1955
50,000
1955
5,000
1925
70,000
On or after]
]
1906
J
20,000

A m o u n t .A u gu st

Various Municipal Purposes____ 3
Rapid Transit___________________
. 33*4
y,
Water Supply................................. 3
____ i _____________
do
do
--3 3

Total___________________
General Fund b o n d s ____

$180,000

3

F o r r e a s o n s m a n y tim e s
“ g e n e r a l f u n d b o n d s 1' in o u r
I n a d d it i o n t o t h e a b o v e
b o n d s ( t e m p o r a r y s e c u r it ie s )

1930

Bonds________
Bonds_______
Bonds________
Bonds_______
Bonds________
Bonds_______
Bonds special _
Bonds special.
Bonds special.
Bonds special _

75,000

SI .257,000
31,500,000

g iv e n w e d o n o t in c lu d e t h e
m o n t h l y t o t a ls .
b o n d s , t h e fo llo w in g r e v e n u e
w e r e a ls o is s u e d :
I n te r e s t .

Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue

587

THE CHRONICLE.

3

4A

-- 4M
— 4%
__ 5

Total Revenue Bonds_______________

4

4M

5

P o p p l e , I t a s c a C o u n t y , M in n .— B on d O f f e r i n g .— P r o p o s a ls
w ill b e r e c e iv e d u n til 2 p . m . S e p t. 18 b y th e T o w n S u p e r ­
v is o r s a t th e o ffic e o f F r a n c is C a ld w e ll, T o w n C le rk , fo r $ 8 ,0 0 0
6 % r o a d a n d b r id g e b o n d s .
A u t h o r it y C h a p te r 6 4 , L a w s o f
1 9 0 5 , a n d e le c t io n h e ld A u g . 15 1 9 0 6 .
B o n d s a re d a t e d
A u g . 15 19 0 6 .
I n t e r e s t a n n u a l.
M a t u r it y 8 1 ,0 0 0 y e a r ly
fr o m 19 19 to 1926 in c lu s iv e .
P o r t s m o u t h , V a . — B o n d O ffe r in g .— P r o p o s a ls w ill b e j r e ­
c e iv e d u n til 12 m . S e p t . 28 b y L . P . S la t e r , C it y C le rk , fo r
8 4 2 .0 0 0 s c h o o l a n d 8 1 0 ,0 0 0 s t r e e t - im p r o v e m e n t 4 % c o u p o n
(w it h p r iv ile g e o f r e g is t r a t io n ) b o n d s .
D e n o m in a t io n $ 1 ,0 0 0 .
D a te O ct. 1 1906.
I n t e r e s t s e m i-a n n u a l.
M a t u r it y O c t . 1
1936.
C e r tifie d c h e c k o n a n a t io n a l o r S ta te b a n k f o r 1 % o f
t h e a m o u n t b i d , p a y a b le t o G e o r g e A . T a b b , C ity T r e a s u r e r ,
is r e q u ir e d .
A c c r u e d in t e r e s t t o b e p a id b y p u r c h a s e r .
P u t n a m C o u n t y (P . O . O t t a w a ) , O h i o .— B o n d O ffe r in g .—
O h io p a p e r s s t a t e t h a t p r o p o s a ls w ill b e r e c e iv e d u n t il 12 m .
t o - d a y (S e p t . 8 ) b y t h e C o u n t y C o m m is s io n e r s f o r $ 1 8 ,0 0 0
5 % W a u s e o n R o a d b o n d s a n d $ 3 ,5 0 0 5 % T r o y e r R o a d
bonds.
R a p id C it y , M a n . — D e b e n tu r e S a l e .— O n A u g . 2 7 th e
8 4 ,5 0 0 5 % s id e w a lk d e b e n t u r e s a n d t h e $ 2 ,5 0 0 5 % p u b l i c p a r k d e b e n t u r e s w e r e a w a r d e d t o th e C o n fe d e r a t io n L ife
I n s u r a n c e C o . a t 1 0 2 .1 5 .
T h e b i d s w e re a s fo llo w s :
Confederation Life Ins. Co____102.151Union Bank_______________________ par
O. Legee, Montreal----------------- 101.251

S e c u r itie s a re d a t e d
M a t u r it y J u ly 3 0 1 9 2 6 .

J u ly

30

1906.

In terest

a n n u a l.

R i c h f ie ld T o w n s h i p
( P . O . W e s t R i c h f i e l d ) , S u m m it
C o u n t y , O h io .— B o n d S a le .— T h is t o w n s h ip r e c e n t ly a w a r d e d
$ 5 ,0 0 0 5 % 1 -1 0 -y e a r (s e r ia l) r o a d - im p r o v e m e n t b o n d s t o
L a m p r e c h t B r o s . & C o . o f C le v e la n d .
D e n o m in a t io n $ 5 0 0 .
D a t e S e p t. 1 1 9 0 6 .
I n t e r e s t s e m i-a n n u a llv in W e s t R i c h ­
fie ld .
B o n d s a re fr e e f r o m t a x a t io n .
B o n d e d d e b t th is
is su e .
A s s e s s e d v a lu a t io n $ 5 7 5 ,6 7 0 .
R o c h e s t e r , N . Y . — T e m p o r a r y L o a n .— T h is c i t y o n S e p t . 1
a w a r d e d a $ 1 0 0 ,0 0 0 l o c a l- i m p r o v e m e n t n o t e t o th e R o c h e s t e r
S a v in g s B a n k a t 4 . 9 5 % in t e r e s t .
F o ll o w in g a re t h e b i d s :
Rochester Sav.Bk.,Rochester-4.95% |Broadway Savings Institution,
Goldman, Sachs & Co., N. Y . 5.875%
New York (350,000)________5.25%

B o n d O ffe r in g .— P r o p o s a ls w ill b e r e c e iv e d u n t il 1 p . m .
S e p t . 12 b y S a m u e l B . W il lia m s , C it y C o m p t r o lle r , f o r $ 7 5 ,0 0 0 4 % r e g is te r e d s c h o o l b o n d s .
A u t h o r it y C h a p te r 5 4 9 ,
L a w s o f 1906.
D e n o m in a t i o n $ 5 ,0 0 0 .
D a te O ct. 1 1906.
J u ly .
A u g u st.
I n t e r e s t J a n . 1 a n d J u ly 1 a t t h e U n io n T r u s t C o . in N e w
________________________ 32,750,000
________________________ 25,000
Y o r k C it y .
M a t u r it y $ 2 5 ,0 0 0 y e a r ly f r o m J u n e 1 1911 t o
375.000
25,000 J u n e 1 1913 in c lu s iv e .
E a c h b i d m u s t b e m a d e o n a b la n k
115.000
_______
13,444,500
2,650,000 f o r m fu r n is h e d b y t h e c i t y a n d m u s t b e a c c o m p a n ie d b y a
______
1,000,000 c e r t ifie d c h e c k f o r 2 % o f t h e b o n d s b i d f o r , p a y a b le t o th e
20,000
______
100.000
______ C ity C o m p t r o lle r . B o n d s w i l l . b e c e r t ifie d t o a s t o g e n u in e ­
________________________ 25.000
n ess b y th e C o lu m b ia T r u s t C o . o f N e w Y o r k C it y .
A ccru ed
________________________ 250,000
in t e r e s t , if a n y , t o b e p a id b y p u r c h a s e r .

313,754,500

S6,725,000

N ia g a r a , O n t . — D eb en tu r es N o t S o ld .— N o a w a r d w a s m a d e
o n A u g . 2 8 o f t h e 8 1 5 ,0 0 0 4 3 4 % d e b e n t u r e s m e n t io n e d in
V. 83, p . 455.
The. h ig h e s t b i d r e c e iv e d w a s f o r 8 1 4 ,8 5 7 5 0 .
N o r t h a m p t o n , H a m p s h ir e C o u n t y , M a s s .— B o n d S a le .—
O n S e p t . 1 t h e 8 1 4 ,0 0 0 4 % 1 -7 -y e a r (s e r ia l) c o u p o n s c h o o lb u i l d i n g b o n d s d e s c r ib e d in V . 8 3 , p . 5 1 4 , w e r e a w a r d e d t o
th e N o r t h a m p t o n I n s t it u t io n f o r S a v in g s a t p a r a n d in te r e s t .
T h is w a s th e o n ly b i d r e c e iv e d .
O r illia , O n t . — D eb en tu r e S a le .— O n A u g . 2 2 t h e th r e e
is su e s o f 4 ) 4 % d e b e n t u r e s a g g r e g a t in g $ 1 0 5 ,0 0 0 , a d e s c r ip ­
t io n o f w h ic h w a s g iv e n in V . 8 3 , p . 3 9 4 , w e r e a w a r d e d t o
H . O ’ H a r a & Ccn o f T o r o n t o f o r 8 1 0 6 ,8 3 0 .
P a t t o n T o w n s h i p S c h o o l D is t r i c t ( P . O . P it c a ir n ) , A l le ­
g h e n y C o u n t y , P a . — B o n d S a l e .— O n A u g . 31 th e $ 5 ,0 0 0 5 %
1 - 5 - y e a r (s e r ia l) s c h o o l b o n d s d e s c r ib e d in V . 8 3 , p . 5 1 4 , w e re
a w a r d e d t o th e B r a d d o c k N a tio n a l B a n k o f B r a d d o c k a t
1 0 0 .5 0 a n d a c c r u e d in te r e s t .
T w o o t h e r b id s o f p a r w e re
a ls o r e c e iv e d .
P h o e b u s , E l iz a b e t h C ity C o u n t y , V a . — B id R e je c te d .—
O n l y o n e b i d w a s r e c e iv e d o n A u g . 29 f o r t h e $ 4 0 ,0 0 0 5 %
c o u p o n p a v in g b o n d s d e s c r ib e d in V . 8 3 , p . 3 9 4 .
T h is b id
w a s b e lo w p a r a n d w as n o t a c c o m p a n ie d b y a c e r t ifie d c h e c k
f o r 3 5 0 0 a s r e q u ir e d .
I t w a s th e r e fo r e r e je c t e d .
P ie r c e S c h o o l D i s t r i c t N o . 2 (P . O . P i e r c e ) , P ie r c e C o u n t y ,
N e b . — B o n d S a l e .— O n S e p t. 1 th e $ 4 ,0 0 0 6 % 1 -4 -y e a r (se ria l)
a d d it io n a l s c h o o l- b u ild i n g b o n d s d e s c r ib e d i n V . 8 3 , p . 4 5 6 ,
w e re a w a r d e d t o W . B . D o n a ld s o n a t 1 0 2 .5 0 .
F o llo w in g are
th e b id s :
W . B. Donaldson_____ ___34.100 00 City Mat. Bank, Tecumseh .$4,041 00
S. A. Sean. Chicago.
. 4,101 20IClty Savings Bank, Omaha 4,025 00
First Nat. Bk.. Barnesvillc. 4.051 00

In a d d it io n to t h e a b o v e , s e v e r a l b id s o f p a r w ere a ls o r e ­
c e iv e d .
P in e h e r C r e e k , A l b e r t a . — D eb en tu r e O f f e r i n g .— P r o p o s a ls
w ill b e r e c e iv e d u n t il 12 m . O c t . 1 b y S . W . B e r r y , T o w n
.S e c r e ta r y -T r e a s u r e r , f o r 8 1 0 ,0 0 0 5 % d e b e n t u r e s .
S e c u r i­
tie s w ill b e d a t e d N o v . 1 1 9 06 a n d w ill m a t u r e p a r t y e a r ly
f o r te n y e a r s a t th e U n io n B a n k o f C a n a d a in P in e h e r C r e e k .
P iq n a , M ia m i C o u n t y , O h i o .— B o n d S a l e .— O n A u g . 31 th e
3 3 0 ,0 0 0 4 %
1 0 -y e a r c o u p o n s t r e e t - im p r o v e m e n t b o n d s
d e s c r ib e d in V . 8 3 , p . 3 9 4 , w e re a w a r d e d t o t h e A t la s N a ­
t io n a l B a n k o f C in c in n a ti a t 1 0 0 .3 3 3 a n d in t e r e s t — a b a s is o f
a b o u t 3 .9 6 % .
F o llo w in g a re th e b id s :
AtJaa Nat, Bank, Cincinnati.3 3 0 ,1 0 0 |R. Klcybolte & Co
Woil Jftoli <St C o .. Clndmatl 30,005

Cincln..330 050

R o c k f o r d , M e r c e r C ounts'-, O h i o . — B o n d O f f e r i n g .— F u r t h e r
d e t a ils a re a t h a n d r e la t iv e t o t h e o ffe r in g o n S e p t . 15 o f t h e
$ 4 1 ,0 0 0 4 ) 4 % c o u p o n s t r e e t a n d s e w e r a s s e s s m e n t b o n d s
m e n t io n e d in la s t w e e k ’s is s u e .
P r o p o s a ls w ill b e r e c e iv e d
u n t il 6 p . m . o n t h a t d a y b y F . W . M ille r , V illa g e C le rk .
T h e b o n d s a n s w e r t o t h e fo llo w in g d e s c r ip t io n :
$22,000 4 y 2 y 0 coupon Main Street improvement assessment bonds. De­
nomination $1,000. Maturity $2,000 yearly from 1909 to
1916 inclusive, $3,000 in 1917 and $3,000 in 1918.
14,000 4>3% coupon Market Street improvement assessment bonds. De­
nomination 31,000- Maturity $1,000 yearly from 1909 to
1914 inclusive and 32,000 yearly from 1915 to 1918 Inclusive.
2.000 4 A % coupon Sewer No. 1 assessment bonds. Denomination $500.
Maturity $500 yearly from 1909 to 1912 inclusive.
3.000 4 % % coupon Sewer No. 2 assessment bonds. Denomination $500.
Maturity $500 yearly from 1909 to 1914 inclusive.

T h e a b o v e b o n d s a re a ll d a t e d M a r ch 15 1 9 0 6 .
In te re st
s e m i-a n n u a lly a t t h e V illa g e T r e a s u r e r ’ s o ffic e .
C a sh o r
c e r t ifie d c h e c k f o r $ 5 0 0 , p a y a b le t o t h e V illa g e T r e a s u r e r ,
is r e q u ir e d w it h b id s f o r e a c h is su e .
B o n d s a re e x e m p t f r o m
a ll t a x e s .
S a lin e L e v e e a n d D r a in a g e D is t r i c t (P . O . M a r k s v i lle ) , L a .
— B o n d s A u th o r iz e d .— R e p o r t s s t a t e t h a t th is d is t r ic t h a s
a u t h o r iz e d H o n . J . C . C o p p e l, P r e s id e n t , t o o ffe r f o r sa le
8 1 0 0 .0 0 0 5 % 5 0 -y e a r d r a in a g e b o n d s . D e n o m in a t i o n $ 1 ,0 0 0 .
I n t e r e s t s e m i-a n n u a l.
S a n D ie g o S c h o o l D is t r i c t ( P . O . S a n D i e g o ) , S a n D i e g o
C o u n t y , C a l.— B o n d S a l e .— F o llo w in g a re t h e b i d s r e c e iv e d
o n S e p t . 3 f o r th e $ 1 2 0 ,0 0 0 4 ) 4 % 1-2 0 -y e a r (s e r ia l) g o ld
s c h o o l- b u ild i n g b o n d s d a t e d J u ly 17 1 9 06 a n d d e s c r ib e d in
V . 8 3 , p . 456:
N. W . Harris & Co., Chic $121,704 5 0 1Los AnrolesTr.Co. ,LosAn$120,950 0 0
W . R.StaatsCo.,Pasadena 121,382 00 N.W.Halsey&Co.,SanFr. 120,564 00
Adams-PhllllpsCo.,LosA. 121,276 00 E.H.Taolllns&Sons.SanF. 120,387 56
Security Savings Co_____ 121,200 00|C. D. Long______________ 120.312 00

S a n ta B a r b a r a , S a n ta B a r b a r a C o u n t y , C a l.— B o n d s P r o ­
p o s e d .— A c c o r d in g to lo c a l r e p o r t s th e C it y C o u n c il h a s d e ­
c id e d to call a n e le c t io n t o v o t e o n th e q u e s t io a o f is s u in g
p a v in g b o n d s .
S c h e n e c t a d y , N . Y . — B o n d s N o t S o ld .— T h e o n ly b i d r e ­
c e iv e d o n S e p t . 6 fo r t h e $ 1 2 0 ,0 0 0 4 % r e g is te r e d s e w e r b o n d s
d e s c r ib e d in V . 8 3 , p . 4 5 6 , w a s fr o m W . J . H a y e s
Sons o f
C le v e la n d w h o o ffe r e d 9 9 .2 6 .
T h is b i d w a s r e je c t e d . T h e
b o n d s a re p a r t o f a n is su e o f $ 1 5 0 ,0 0 0 , o f w h ic h t h e c it y
p r o p o s e s to ta k e $ 3 0 ,0 0 0 f o r it s s in k in g f u n d .
S c r ib n e r , D o d g e C o u n t y , N e b . — B o n d O f f e r i n g .— P r o ­
p o s a ls w ill lie r e c e iv e d u n t il 7 p . m . S e p t . 15 b y H a l C h r is t y ,
V illa g e C le rk , f o r $ 2 0 ,0 0 0 w a t e r a n d $ 6 ,0 0 0 lig h t 5 % r e g is ­
te r e d b o n d s .
D e n o m in a t io n $ 1 ,0 0 0 .
I n t e r e s t a n n u a lly a t
th e o ffic e o f th e V illa g e T r e a s u r e r .
M a t u r it y tw < *a ^ y e a r s ,

588

[VOL. LXXXI1I.

TH E CHRONICLE.

su bject to call after five years. Certified check for $1,000 $30,000 4 % 5-40-year (optional) court-house and jail bonds
required. B onds are exem p t from taxation. B onded d ebt, j; dated June 30 1906. These securities were awarded on the
this issue. These b on d s were offered b u t n ot sold on A ug. 25. same day to the State School Fund at par and interest.
T obias School D istrict No 81 (P. O. T ob ia s), Saline
Seattle, W a s h .— B o n d s N o t S o ld . — No sale was made on
Sept. 1 of the $500,000 coupon park bond s described in County, N eb .— Bond Sale.— On A ug. 28 $2,500 5 % schoolhouse bonds were awarded to the Tobias National Bank at
V. 83, p . 395.
101.60— a basis of about 4 .1 5 8 % to the optional date and
South B end, St. Josep h C ounty, In d .— B o n d S a le . — On 4 .8 0 % to full m aturity. Denom ination $500. Date Sept. 1
A ug. 30 $28,000 4 % general-purpose bonds were awarded to 1906. Interest annually on Sept. 1. M aturity Sept. 1 1916,
Breed & Harrison of Cincinnati at 106.25— a basis of abou t subject to call after tw o years.
3 .5 6 1 % . D enom ination $1,000. Date Sept. 1 1906. I n ­
U nion tow n , Perry County, A la .— Bonds Not Yet Sold.—
terest sem i-annual. M aturity Sept. 1 1926.
W e are advised that the $10,000 5 % 20-30-year (optional)
Spencerport, M onroe C ou nty, N. Y .— B o n d S a le . — On Aug. gold coupon street-paving bonds offered but n ot sold on July
30 the $5,000 3-12-year (serial) registered village-hall bonds 15 (V. 83, p. 291) have n ot yet been disposed of.
described in V. 83, p. 457, were awarded to O ’Connor &
U tica, N. Y . — Bond Sale.— On Sept. 5 the $15,000 4 %
K ahler of New Y o rk City as 4.60s. Bids for 5 % bonds were
1-15-year (serial) registered fire-station b on d s described in
also received from S. A . K ean of Chicago, the Genesee
V. 83, p . 516, were awarded to the U tica Savings Bank at
V alley Trust Co. of R ochester and Geo. M. H ahn of New Y ork
par and accrued interest. There were no other bidders.
City and for 4 .9 0 % bonds from M yron W . Greene of
An error in the official advertisem ent published in one of
R ochester.
the U tica papers gave the date o f this sale as Sept. 15 instead
Sunnyside School D istrict, L os A n geles C ounty, C al.— o f Sept. 5. This accounts for our giving the date of sale in
B o n d E le c t io n . — L ocal dispatches state that an election will last w eek’s issue as Sept. 15, our item having been made up
be held in this district Sept. 19 to v ote on the question of from this advertisem ent.
issuing $2,000 bonds.
Vernon T ow nship (P. O. T iro), Craw ford C ounty, O h io.—
Susanville, Lassen C ounty, Cal.— B o n d S a l e . — On A ug. 1 Bond Sale.— On A ug. 21 $15,000 o f the $20,000 4 % roa d an issue of $10,000 5 % 20-year sewer bonds were awarded to im provem ent bonds m entioned in V . 83, p. 343, were
the W ashoe County Bank of R en o, N ev., at 100.233— a basis awarded to the Farm ers’ & Citizens’ Bank of T iro. D ate
of abou t 4 .9 8 2 % . D enom ination of bonds $500.
of bonds Aug. 1 1906. Interest semi-annual. M aturity
Syracuse, N. Y . — B id R e je c te d . — The on ly b id received on $3,000 in 1911, $5,000 in 1916, $5,000 in 1921 and $2,000
Sept. 4 for the $225,000 4 % 1-10-year (serial) registered in 1926.
local-im provem ent bonds described in V . 83, p. 457, was
V irginia School D istrict (P. O. V irginia), Cass C ounty, 111.
from W . J. H ayes & Sons o f Cleveland, who offered 99.
This — Bond Sale.— On A ug. 20 the $2,000 4-7-year (serial) co u ­
b id was rejected.
pon heating bonds described in V. 83, p. 397, were awarded
Tensas Basin L ev ee D istrict (P . O. M onroe), L a .— B on d to J. J. Shephard at 101.
S a le . — The $30,000 5 % 10-20-year (option al) gold coupon
W apakoneta, O hio.— Bonds
Authorized.— The Village
refunding bonds described in V. 83, p. 291, have been sold Council on A ug. 20 passed an ordinance providing for the
at par to Eustis & Castill o f Newr Orleans. Securities are issuance o f $2,750 4)/£% coupon North A lley assessment
dated Sept. 1 1906.
bonds. D enom ination $275. Date Sept. 1 1906. Interest
Terrell C ounty (P. O. Sanderson), T e x .— B o n d s R eg istered sem i-annually at the office of the Village Treasurer. Ma­
a n d S o ld . — The State Com ptroller on A ug. 29 registered turity $275 yearly on Sept. 1 from 1907 to 1916 inclusive.

INVESTIW1EN FS.
N E W YORK CI TY

3% and 3Vz%

H. W .

NOBLE

& COMPANY,

GOLD

BONDS

B A L T IM O R E .

B o u g h t an d S o ld .

W. J. HAYES & SONS,
C L E V E L A N D , O H IO .

HIGH

35 C ongress S treet,
BOSTON.

BONDS

L is ts u p o n re q u e st.

Denison & Farnsworth,

NEW

ERVIN & COMPANY,

AXD

BOSTON

S T A T E , M U N IC H ?A li A N D H I G H G R A C E
R A IU R O AJD S E C U R I T I E S .

BANKERS,
,
(New York Stock Exchange,
em era} Philadelphia Stock Exchange.
HONBS

FOR

48 Exchange Place,
New York.

MUNICIPAL
AND

IN V E S T M E N T .
Drexel Building,
Philadelphia.

Public Service Corporation
BONDS.

E. H. ROLLINS & SONS.
Ferry* Coffin Jb Burr,

BOSTON.
D enver.

C h icago.

San F ra n cisco .

INVESTMENT BONDS.
Ij O

S ta te

MUNICIPAL AND RAILROAD

S tre e t,

BONDS.

LI ST ON APPLICATION.

B O S T O N .

Albert Kleybolte & Co . 5

Carefully Selected
M UNICIPAL BONDS

YORK

STOCK E X C H A N G E S.

BOSTON an d C L E V E L A N B .

4 0 9 H 'a l n n t S tr e e t,
C IN C IN N A T I, © .

8 Nassau S treet,
N EW YORK.

BfiKhtBSBS

BONDS,

BOSTON. M A SS.

G R A D E

CO. ,

k

BANKERS,

PUBLIC SERVICE COR PO R A TIO N

C H IC A G O .

M U N IC IP A L AND
P U B L IC F R A N C H IS E COR PO R A TIO N
BONDS

DAY

P h iladelph ia .
AND

T. W . S T E P H E N S & CO.,
2 W a ll S treet, New Y o rk .

PL L.

D e t r o it .
N ew Y ork.

MUNICIPAL

T A X -E X E M P T

I N V E S T M E N T S .

I N V E S T M E N T S . _____

8E A S 0N G 00D

&

M A T E S

M e r c a n tile L ib r a r y E n i l d i n s ,
C IN C IN N A T I.

M a c D o n a ld , M c C o y k

MUNICIPAL

AND

G o ,,

CORPORATION

Blodget, Merritt

Sc

Co ,

BANKERS,

And other Hi^h-Crade
Investment Securities.

BONDS.

Full descriptions showing price and income
on application.

16 Congress Streets Boston.

i8 x L a S a l l e S t r e e t , C h i c a g o .

S « N A S S A U S T R E E T . N E W Y O R K ..
s p a t e

K8S«l9l Sab®«! ISS3.

H . C. Speer

Sc

Sons Co

First Nat, Bank Building, Chicag®,
CITY COUNTY
R O XMH Q
AND TOWNSHIP
™-

B U N D S STOCK C E R T I F I C A T E S
Engraved on steel or lithorgaphed, or
partly printed and partly lithographed.
Book of 100 certificates, steel-plate
border, and seal press, S15; cheaper
styles as low as S2 50 for a book of 50.
A L B E R T B . K IN G & CO., 2 06 Broadway, N .Y .

rirr

&

r a il r o a d

bo n d s

.

OTTO JULIUS MERKEL
BROKER

«4

AND

46 W A L L

ST.,

NEW

YORK.

INVESTMENT SECURITIES.
Correspondence Invite'’

Sept. 8 1906.]

589

THE CHRONICLE.

Warren County (P. 0. Vicksburg), Miss. — B on d S a le. Youngstown, Ohio.—Bids.—The following bids were re­
On Sept . 4 the $6,600 5% 5-20-year (.optional) coupon bridge ceived on Sept. 3 for the ten issues of 5% bonds described in
bonds, a description of which was given in V. S3, p. 397. : V. 83, p. 458:
were awarded to George Anderson at 103.03 and accrued
$ 8 ,4 9 0
$ 9 ,3 7 5
$ 3 ,6 5 0
$ 2 ,7 9 0
$ 4 5 ,4 5 0
Bresctt
D ela son
TV lck A v e.
School
Oak H ill
interest. The bids were as follows:
Street
A ven ue
H ill
Street
A v en u e
j Willis
6.720!

Georgre A n d e r s o n _________________ $ 6 ,8 0 0

Brunenl & Hirsch____________

M o o r e & C o --------------------$6,700

p a vin g.

H o e h le r
&
Cum m lnsrs, T o l e d o ___ $ 8 ,9 0 2 5 0
8 .9 0 2 5 0
W e ll .R o t h & C o ..C l n .
H uy den.
M ille r
&
8 .9 0 1 0 0
C o .. C le v e la n d ___
B r ig h t o n - G e r m a n
8 ,8 8 2 5 0
B a n k . C in c in n a t i.
S n son g ood & M ayer,
8 ,8 4 4 5 0
C i n c i n n a t i ________
W . J. H ayes & Son s,
8 ,7 7 0 0 0
C l e v e l a n d _________
8 ,7 4 4 7 0
O tis & H o u g h , C l e v .
R u d o lp h
K l e y b o lt e
...............
& C o . , C ln e in n a t iL a m p r e c h t B ros. &
C o .. C le v e la n d ___

W estm ount, Que.— B on d O f f e n n y . — Proposals will be re­
ceived until 12 m . Sept. 10 by W m . Minto, S ecreta ry Treasurer, for $125,000 electric-light and $150,000 drain age,
road and sidewalk 4 % bonds. Denomination $1,000.
Date July 3 1905. Interest semi-annually on May 1 and N o v .
1 at the Royal Bank of Canada in Montreal.
M a tu rity
May 1 1945.
Wilson School District, Tulare County, Cal.— Bond Sale.—
The county authorities recently awarded an issue of $3,000
7 % 4-9-year (serial) school-building bonds of this district to
A. H. Glasscock of Oakland at 110— a basis of about 5 .1 7 1 % .
Denomination $500. Date Aug. 1 1906. Interest annual.
W yandot County (P. O. Upper Sandusky), Ohio.—Bond
Sale. — On Sept 4 the three issues of 5 % 3 l-3 -}rear (average)
road-improvement bonds aggregating $17,000 and described
in Y. S3, p. 517, were awarded to the Commercial N a tio n a l
Bank of Upper Sandusky at 103.24 and accrued interest— a
basis of about 3 .9 5 % .
Following are the bids:
C o m m e r c ia l N a t .
Bank,
U p p e r S a n d u s k y ________ 5 1 7 .5 5 0
H a y d e n . M ille r & G o .,C l e v . 1 7 ,8 8 7
R . K l e y b o l t e & C o ., C i n e . 1 7 .3 S 2
L a m p r e c h t B r o s & C o .. C le . 1 7 ,3 5 1

80
00
50
00

D e n is o n & F a r n s w o r t h . C l . $ 1 7 . 2 9 9
YV. J . H a y e s & S o n s , C l e v . 1 7 ,2 9 7
O tis & H o u g h , C l e v e la n d . 1 7 ,2 6 7
N e w F ir s t N a t io n a l B a n k ,
1
C o lu m b u s _ ________________ 1 7 ,1 7 5

00

Xenia, Ohio.— B ond S a le .—The $49,500 4% Second Street
bonds offered without success on Aug. 20 have been disposed
of at private sale. See V. S3, p. 232, for description of bonds.
Yakima County (Wash.) School District No. 8 1 . * — B on d
O ffe r in g .—Proposals will be received until 10 a. m. Sept. 22
by Lee Tittle, County Treasurer (P. O. North Yakima), for
§6,000 coupon high-school-building bonds at not exceeding
6% interest. Authority Sections 117, 118, 119, & c ., of the
Code of Public Instruction, Laws of 1897. Interest annually
at the office of the County Treasurer. Maturity twenty years,
subject to call after ten years. Bonded debt at present
§2,400. Assessed valuation for 1906 $294,535.

I

9 ,6 1 4 0 0

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

4 6 ,4 3 0 8 5

9 ,5 4 0 00
9 ,4 0 9 2 5

4 6 ,2 7 0 0 0
4 6 ,0 1 8 12

3 ,6 5 1 2 5

2 ,7 9 1 7 5

4 6 ,7 4 5 3 2

9 ,6 0 9 3 7

4 6 ,4 7 5 0 0
$375

Grant
Street
p a vin g.

S u p erior
Street
sew er.

F oster St.
sew er ,
curbing.

F o ster
Street
grading.

P e tr ie
Stree
sew er.

$901 25

$ 1 ,1 2 9 7 5

$ 73 1 25

922 00

________

748 00

$380 00

9 1 6 29

All the above bids include accrued interest. We are in­
formed that the award will be made Sept. 10.
Yuma County (P. O. Yuma), Ariz .— B o n d S a le .—On
Aug. 31 the $35,000 6% 10-20-year (optional) coupon bonds
described in V. 83, p. 178, were awarded to W. J. Hayes &
Sons of Cleveland at 104.168 and accrued interest. Follow­
ing are the bids:
W . J . H a y e s & S o n s , C l e v e . _ $ 3 6 ,4 5 9 ] A . J . H o o d & C o ., D e t r o it —
F a r s o n .S o n & C o ., C h i c a g o .. 3 5 ,6 5 0 |

$ 3 5 ,3 5 0

A bid for 4% bonds was also received from the California
Standard Securities Co. Ltd. of Oakland.

i

M IS C E L L A N E O U S .
A tlan tic
u t t i a l 'I n s u r a n c e C o m p a n y S c r ip
o f A l l Y e a rn B o u g h t a n d S o ld ,

OF TH E

N ew

Y o r k , January 2 3 rd , 1 9 0 6 .

st of December

1905.

P r e m i u m s o n M a r in e R i s k s f r o m 1 s t J a n u a r y , 1 9 0 5 , t o 3 1 s t D e c e m b e r , 1 9 0 5 . .
..
P r e m i u m s o n P o lic ie s n o t m a r k e d o f f 1 s t J a n u a r y , 1 9 0 5 ___________________ _________________

§ 2 ,9 7 7 ,8 5 4 3 7
6 1 6 ,5 5 1 5 7

T o t a l M a r in e P r e m i u m s ___________ _________ _________________ ____________ ______________________________§ 3 , 5 9 4 , 4 0 5 9 4
P r e m i u m s m a r k e d o f f f r o m 1 s t J a n u a r y , 1 9 0 5 , to 3 1 s t D e c e m b e r , 1 9 0 5 --------------------------I n t e r e s t r e c e i v e d d u r in g t h e y e a r __________________________________§ 2 9 5 , 7 3 8 6 5
R e n t , le s s T a x e s a n d E x p e n s e s ___________________________________
9 9 ,3 3 8 3 3

§ 3 ,0 1 2 ,2 1 3 9 6

L e s s S a l v a g e s _____________________________________ § 1 3 0 , 0 6 8 5 9
R e -i n s u r a n c e s ______________________________
3 5 ,9 4 7 8 5

JO H N M . G IL L E S P IE ,
Room No. 518 A tlan tic Building,
49-51 W a ll Street,
N EW Y O R E ,

VICKERS

ACCOUNTANTS.
,
ROSS BR O S &
MONTGOMERY

l y b r a n d

§ 9 3 2 , 3 8 0 11

-

R e t u r n s o f P r e m i u m s ___________________________________________________ ____________
§ 8 0 ,6 1 5 4 7
E x p e n s e s , in c l u d i n g o ffic e r s ’ s a la r ie s a n d c le r k s ’ c o m p e n s a t i o n , s t a ­
t i o n e r y , n e w s p a p e r s , a d v e r t i s e m e n t s , & c __________________________
§ 3 7 4 ,7 4 6 8 8
T h e C o m p a n y h a s t h e f o l lo w i n g A s s e t s , v i z .:
U n it e d S t a t e s a n a S t a t e o f N e w Y o r k S t o c k , C i t y , B a n k a n d o t h e r
S e c u r itie s § 5 ,1 9 8 ,0 4 2 0 0
S p e c ia l d e p o s i t s in B a n k s a n d T r u s t C o m p a n i e s ______________________________
1 ,5 8 3 ,2 1 2
84
R e a l E s t a t e c o r n e r W a l l a n d W i l l i a m S t s . a n d E x c h a n g e P l a c e _______ § 4 , 2 9 9 , 0 0 0 0 0
O t h e r R e a l E s t a t e a n d c la i m s d u e t h e C o m p a n y . ________ _______________
7 5 ,0 0 0 0 0
4 ,3 7 4 ,0 0 0 0 0
1 ,1 2 7 ,6 7 4 8 3
1 7 5 ,6 3 2 3 3
2 5 7 ,8 6 5 62

A g g r e g a t i n g _____________ _______ __________________________________________ _______ ______________ § 1 2 , 7 1 6 , 4 2 7 6 2
A d i v i d e n d o f S i x p e r c e n t in t e r e s t o n t h e o u t s t a n d i n g c e r t ifi c a t e s o f p r o fit s w ill b e p a i d t o th e
h o ld e r s t h e r e o f , o r th e ir le g a l r e p r e s e n t a t iv e s , o n a n d a f t e r T u e s d a y t h e S ix t h o f F e b r u a r y n e x t .
T h e o u t s t a n d i n g c e r t ific a t e s o f t h e is s u e o f 1 9 0 0 w ill b e r e d e e m e d a n d p a id to t h e h o ld e r s
t h e r e o f , o r t h e ir le g a l r e p r e s e n t a t i v e s , o n a n d a f t e r T u e s d a y t h e S ix t h o f F e b r u a r y n e x t , f r o m w h ic h
d a t e a ll i n t e r e s t t h e r e o n w ill c e a s e .
T h e c e r t ifi c a t e s t o b e p r o d u c e d a t t h e t i m e o f p a y m e n t a n d
c a n c e le d .
A d i v i d e n d o f F o r t y p e r c e n t is d e c la r e d o n t h e n e t e a r n e d p r e m i u m s o f th e C o m p a n y fo r th e
y e a r e n d i n g 3 1 s t D e c e m b e r , 1 9 0 5 , fo r w h i c h , u p o n a p p l i c a t i o n , c e r t ifi c a t e s w ill b e is s u e d o n a n d
a f t e r T u e s d a y 't h e F ir s t o f M a y n e x t,.
o r d e r o f th e B o a r d
Q . S T A N T O N F L O Y D - J O .N E S , S e c r e t a r y .

TR U STEES.
H E R B E R T L . G R IG G S ,
C L E M E N T A . G R IS C O M ,
ANSON W . H A R D ,
M O R R IS K . J E S U P ,
T H E O D O R E P. JO H N SO N ,
L E W IS C A SS L E D Y A R D ,
F R A N C IS H . L E G G E T T .
C H A R L E S D . L K V E R IC H ,
LEAN D ER N. LOVELL,
G E O R G E If. M A C Y ,
C H A R L E S 11. M A R S H A L L ,

W . H . II. M O O R E ,
N IC H O L A S F . P A L M E R ,
H E N R Y P A R IS H .
D A L L VS B . P R A T T ,
G E O R G E W .Q U iN T A R D ,
A. A. RAVEN,
JO H N L. H IK E R ,
D O U G L A S R O B IN S O N ,
G U S I A V II. S C H W A B ,
W IL L IA M A . S T R E E T ,
W IL L IA M C. S T U K G E S .

A . A . RA v’ K N , President.

PHELPS.

BO U G H T A N D SOLD

1 6 6 ,0 1 6 4 4

P r e m i u m n o t e s a n d B ills R e c e i v a b l e .................. .................................................................... ................... r C a s h in t h e h a n d s o f E u r o p e a n B a n k e r s t o p a y lo s s e s u n d e r p o lic ie s p a y a b l e in
f o r e i g n c o u n t r i e s ________________________________________________ _______ _________________________
C a s h in B a n k __________________ _______ __________________________________________________________ __________

&

29 Wall St., NRw York.
N. Y. N. H. <fc Hartf’d RR. conv. 3)4a-

8 3 9 5 ,0 7 6 9 8

L o s s e s p a id d u r i n g t h e y e a r w h ic h w e r e e s t i m a t e d i n 1 9 0 4
a n d p r e v io u s y e a r s ______________________________________________ § 2 7 1 , 1 0 0 6 0
L o s s e s o c c u r r e d , e s t i m a t e d a n d p a i d in 1 9 0 5 _______________ 8 2 7 , 2 9 5 9 5 § 1 , 0 9 8 , 3 9 6 5 5

G U S T A V A M S IN C K ,
F R A N C IS M . B A C O N ,
JO H N N . B E A C H .
W IL L IA M B . B O U L T O N ,
VERN ON H. BRO W N .
W A L D R O N P. B R O W N ,
J O S E P H II. C H A P M A N ,
G E O R G E C. C L A R K ,
CLEVELAN D H. DODGE,
C O R N E L IU S E L D E R T ,
R IC H A R D H . E W A R T ,
E W A L D PLEJTM AN N ,

4 6 ,7 2 9 0 0

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

$730

T he T ru stees, i n conformity with the Charter of the Company, submit the following statement of its
31

p a v in g.
$ 4 6 ,7 0 6 50
4 6 ,7 7 0 0 0

$ 1 ,1 2 8

ATLANTIC MUTUAL INSURANCE COMPANY,
affairs on the

pavin g.
$ 2 ,8 6 5 5 0

$900

M IS C E L L A N E O U S .
O F F IC E

p a vin g.

$ 3 ,7 4 9 5 0

3 9 ,8 2 0

H o e h le r
&
Cum ­
m in g s , T o le d o . - - $ 1 0 , 0 9 6 5 0
F I r e m e n 's P e n s io n F d .
________
T ru stee s, Y ’ g st’ n .
W e l l ,R o t h & C o . ,C i n . 1 0 ,0 9 0 0 0
H ayden,
M ille r
&
C o ., C l e v e l a n d . . . 1 0 ,0 7 1 0 0
S e a so n g o o d fis M a y e r ,
C in c in n a t i ________ 1 0 ,0 3 2 2 5
W . J. H a yes & S on s,
C l e v e l a n d __________ 1 0 ,0 0 0 0 0
O tis & H o u g h , C le v e .
9 ,9 1 9 7 5
D o lla r S a v . & T r u s t
C o ., Y o u n g s t o w n .
________

20
50
50

p a vin g.

$ 9 ,6 4 0 7 5
0 .0 3 5 0 0

C O R N E L I U S E L D E R T , Vice-President.
T IT E O
P J O H N S O N , 2d V h r P re s id e n t.
J A M E S L . L I V I N G S T O N . 3d V ic e -P r e s id e n t.

Certified Public Accountants
(Pen n «y l v a n la )
L a n d T itle B u ild in g
f t t i l . A t» E i , i * H l A .
W a l l S t r e e t e x c h a n g e B u ild in g ,
NEW YORK.

T H O M A S

B.

DEAN,

S u ccessor to A R C H E R & D E A N

C ERTIFIED PU BLIC ACCOUNTANTS
W a ll S tr e e t E x c h a n g e B ld g .,
4 1 -4 3

W a l l S t .,

-

NEW YO R K .

Telephone 4156 Broad.

Wilkinson, Reckitt, Williams & Co.
CERTIFIED PUBLIC ACCOUNTANTS
52 B road w ay,
N ew Y ork
Special Department tor Bank Examinations under the
management or a National Bank Examiner of
many years' experience.

LO O M IS,

0 0

INA N T

& 0 0

.

CERTIFIED PUBLIC ACCOUNTANTS
3 0 B ro a d S tree t N ew
T e l, 496H B r o a d .

Y ork.

JAMES PARK & CO.,

CERTIFIED PUBLIC ACCOUNTANT8
3 2 B r o a d w a y , New Y o r k ,
IS O

L a S a lle S tr e e t, C h ic a g o .

590

[Y ol.

T H E C H RO N ICLE

lxxxiii

£ r w s t ( I 'j o m j j a u i e s .

C IT Y

TRU ST

CO. O L D
C O L O N Y
T R U S T CO.

50 S T A T E S T R E E T , B OSTON, MASS.
B U N K E R
C ity

M e rc a n tile T r u s t C o*
St. Louis, Mo-

$3,000 000

Capita?^

6*500,000

S u r p lu s ;

OFFERS ITS SERVICES TO THE NA­
TIONAL PUBLIC. COURTEOUS AND
LIBERAL TREATMENT ACCORDED
CUSTOMERS, CLIENTS <fc DEPOSITORS
O F F IC E R S ,
FE ST U S

J„

-W I L L I A M
c .

W A D E .-

P r e s id e n t.

M A F F IT T ,

H . M cM IL L A N ,

T reasu rer,

S e c re ta ry .

Square,

CHICAGO

$ 2 ,0 0 0 ,0 0 0

C a p it a l,

500,000

Surplus,

C H A R L E S G . D A W E S , P r e s id e n t .
W . I R V I N G O S B O R N E , V ic e -P r e s i d e n t .
A . U H R L A U B , V i c e -P r e s i d e n t .
W I L L I A M R . D A W E S , C a s h ie r .
L . D . S K I N N E R , A s s t . C a s h ie r .
M ALCOLM

M c D O W E L L , A sst

B R A N C H :

Capital & Surplus, -

M ASS.

Capital and Surplus,

D A I L Y

B A L A N C E S

A

C H E C K .

T R U S T E E

le g a l D e p o s it a r y fo r C o u r t F u n d s , a n d a u t h o r ­
iz e d to a c t a s E x e c u t o r , G u a r d ia n , A d ­
m in is tr a to r
and
T ru stee .

D IR E C T O R S
P H IL IP

D e p o sit

D e p o s its

C A P ITA L*

-

-

$2,00O;OOO

S u b je c t

and

to C h e c k

O F F IC E R S
G R I E R H E R S H - ................................. ........... P r e s id e n t
A L L A N M c L A N E ________________. V i c e P r e s id e n t
L.
S.
Z I M M E R M A N . . _____ . . . . ___ S e c r e t a r y
CARROLL
VAN
N E S S .......................... T r e a s u r e r
J E R V I S S P E N C E R J r _ ______ A s s t . T r e a s u r e r
3V A N S K I N N E R _____ ________ A s s t . S e c r e t a r y

T h e T 'r u s t C o m p a n y of
N o r t h A m e ric a
5® 3=5© 5“5 0 ? C h e s tn u t S t „
C A P IT A L

Capital * - = = $1,000:000
Surplus (Earned)
2,000,000

T O

U N D E R

M O R T G A G ­

A G E N T .

OF

R E G IS T R A R .

D IR E C T O R S :
J

r

.,

-

-

-

-

C h a ir m a n -

G ord on A b b o tt,

R e g in a id F o s t e r ,

O liv e r A m e s ,

G eorge P . G ard n er,

C. W . A m ory,

R o b e r t F . H e r r i c k ,.

C h a r le s F . A y e r ,

H en ry S. H ow e,

S am u el C arr,

W a lt e r H im n e w e ll,

B . P . Cheney,

T h o m a s L . L iv e r m o r e ,

T . J e ffe r s o n C o o lid g e ,

G eorge v . L . M eyer,

C h a r le s E . C o t t in g ,

L a u r e n c e M in o t,

P h ilip D e x t e r ,

R ic h a r d O ln e y ,

E b e n S . D rap er,

N a th a n ie l T h a y e r ,

G eorge F . F ab yan ,
F r e d e r ic k P . F is h ,

L u c iu s T u tt le .
S te p h e n M . W e ld .

The N E W E N G L A N D
T R U ST CO M PA N Y ,
$1,000,000
2 000,000

A u t h o r i z e d t o a c t a s e x e c u t o r a n d t o r e c e iv e a n d
h o ld m o n e y o r p r o p e r t y in t r u s t o r o n d e p o s i t fr o m
C o u r t s or L a w o r E q u i t y , E x e c u t o r s . A d m i n i s t r a t o r s .
A s s ig n e e s ,
G u a r d ia n s ,
T ru stee s,
C o r p o r a t io n s
and
I n d iv id u a ls .
A ls o a c t s a s T r u s t e e u n d e r M o r t g a g e s a n d a s t ra n sfe r
A g e n t a n d R e g is tr a r o f S t o c k s a n d B o n d s .
O F F IC E R S .
D A V I D R . W H I T N E Y . P r e s id e n t .
C H A R L E S H . D A L T O N , V i c e -P r e s i d e n t .
CHARLES F
C H O A T E , V ic e -P r e s id e n t .
F R A N K L IN
H A V E N , V i c e -P r e s i d e n t .
J A M E S R . H O O P E R , A c tu a ry .
H E N R Y N . M A R K . S e c re ta ry
FRED K W . ALLEN
A s s t - S e c . & Treaau
F R A N C I S R . J E W J S T T . T r u s t O ffice r
B O A R D OF D IR E C T O R S
W illia m E n d i c o t t , C h a ir m a n .
F r e d e r ic k P . F is h ,
W a l t e r C . B a y lies,
M orn s G ray.
A lf r e d B o w d i t c h ,
F r a n k li n H a v e n ,
C h a r le s F . C h o a t e ,
Jam es R . H oop er,
A le x a n d e r C o c h r a n e ,
J a m e s M . P re n d erg a st,
Edm und D
C o d roan,
G e o r g e S . S ils b e e ,
T . J e fle r s o n C o o lid g e ,
L a w re n ce M . S to c k to n ,
C h a r le s H . D a lt o n ,
N a th a n ie l T h a y e r ,
G eorge D e xter,
G e o r g e W ig g le s w o r t h ,
P h ilip D e x t e r ,
D a v id R . W h itn e y .
W illia m F a rn sw o rth ,

M IS S IS S IP P I V A L L E Y A M E R IC A N L O A N &
T R U ST CO M PA NY,
T R U S T CO.
BOSTON. MASS.
C A P IT A L , S U R P L U S
\®g 3 0 0 0 0 0
and P R O F IT S I * 6 >0 l , v >u u u ‘
A

GENERAL
F IN A N C IA L
AND
F ID U C IA R Y
B U S IN E S S T R A N S A C T E D
D IR E C T O R S
D R . F r a n c is
R . J . O ’ R e i l l y ,M D
A u g u st G ehner
H . C l a y P ie r c e
s. L
H o fim a n
J . R a m s e y Jr.
C h a s . H . H u t t ig J a m e s E . S m ith
B r e c k ln ’ g e J o n es
R o b t -H . S to c k to n
N e l s o n W .M c L e o d J u liu s S . W a l s h
S a u n d e r s N o r v e il B .o ila W e i l s
W m D . O r th w e i n

John I B eggs
W ilb u r F . B o y le
Jam es E . B rock
M u r r a y C a r ie to n
C h a r le s C la r k
H o r a t i o N . D a v is
J o h n D . D a v is
A u g * B . E w in g

O F F IC E R ^
J U L I U S S . W A L S H , C h a ir m a n ot t h e B o a r d
B R E C K I N R I D G E J O N E S , P r e s id e n t
JO H N D
D A V I S . V ic e -P r e s id e n t
S A M U E L E . H O F F M A N , V ic e -P r e s id e n t
J A M E S E . B R O C K , S ec re ta ry
H U G H R . L Y L E , A s s t . S e c r e ta r y
H E N R Y C 1 B B O T S O N , A s s t . S e c re ta ry
C . H U N T T U R N E R J r .. A s s t . S e c r e t a r y
F R E D E R I C K V I E R L I N G , T r u s t O ffice r
H E N R Y SEM PLE
AM ES,
A s s t . T r u s t O fficer
C H A R L E S M . P O L K , A s s t T r u s t O ffice r
W I L L I A M G . L A C K E Y , B o n d O fficer
W M . M c C . M A R T I N , A s s t . B o n d O ffice r
T O M W . B E N N E T T , R e a l E s t a t e O ffice r
C . W . M O R A T H . S a fe D e p o s i t O ffice r

P h ila d e lp h ia *

C A P IT A L
S U R P L U S (E a r n e d ) T ra n sa c ts

W

isconsin

T r u s t C o ,,

a G en eral
Com pany

-

$ 1 ,0 0 0 ,0 0 0
$ 1 ,5 0 0 ,0 0 0

B a n k in g a n d
B u s in e s s .

T ru st

I N T E R E S T A L L O W E D O N D E P O S I T S S u b je c t to
C heck.
S p e c ia l R a t e s o n T i m e D e p o s i t s .
T ru stee
under
M o rtg a g es,
T r a n s fe r
A g e n t,
and
R e g is t r a r o f S t o c k s a n d B o n d s .
B O A R D O F D IR E C T O R S :
W i lli a m A . G a s t o n ,
C . F . A d am s 2d,
E lm e r P
H ow e.
F . L o th ro p A m e s,
N . W . Jord an .
H o b a rt A m e i,
D a v id P . K im b a ll,
E d w in F . A tk in s ,
John L aw ren ce,
F r e d e r ic k A y e r ,
L e s t e r L e la n d ,
C h a r le s S
B ir d ,
is. E
P eabody,
G eorge W . B row n ,
F r a n c is P e a b o d y J r .,
A . G . B u llo c k ,
S a m u e l C a rr,
R ovai R ob b m s,
G ilm e r C la p p ,
H e n r y A . R u e te r,
P. n. saltonstaii.
G ord on D e x ter.
R . P a m S n e llin g ,
W i l l i a m R . D r iv e * .
F r a n k W . S te a r n s,
F . 0 . D u m a in e .
E u g e n e V. R. Thaytf.
E u g e n e N . T oss.
C h a r le s W . W h i t t i e r .
N . W . JO RD AN
P r e s id e n t .
C H A R L E S L . B U R R I L L , V i c e -P r e s i d e n t .
J . H . P E R K I N S , V i c e -P r e s i d e n t .
E . A . C O F F I N , T reasu rer.
C . H . B O W E N , S e c re ta ry .
.............................
G . W .
A U R Y A N S E N , A sst. S w

T H E

..........................................................................$ 1 , 0 0 0 , 0 0 0

A c t s a s E x e c u t o r , T r u s t e e , R e g is t r a r , e t c .
B e­
com es S u r e ty .
C o m p le t e s e t o f S a f e D e p o s i t V a u l t s .
In te re st on D e p o s its .
P r e s id e n t , A D A M A . S T U L L .
1st V ic e -P r e s , & T re a su r e r, H E N R Y G . B R E N G L E .
2d
V i c e - P r e s .,
S u p e r v is in g
T ru st D e p a r tm e n t,
JO SEPH S. CLAR K .
S e c r e t a r y a n d A s s i s t a n t T r u s t O ffic e r ,
C K A S . P . L IN E A W E A V E R .
D IR E C T O R S :
H e n r y G . B r e n g le ,
J . L e v e r in g J o n es,
Jam es C rosby B row n ,
M a lc o lm L lo y d
J o h n C a d w a la d e r .
J o h n M cIL h en n y
E . W . C la r k J r ,
R i c h a r d W a i n M e ir s
E c k le y B . C o x e J r
C l e m e n t B . N e w b o lc L
E d w in S . D ix o n ,
Joh n W . Pepper
E u g e n e L , E llis o n ,
W i l l i a m F . Read*
J o s e p h C . F r a le y .
F r a n k S a m u e l,
H a r r y C . F r a n c is .
A d a m A . S t u ll,
H e n r y L . G r .w J r .,
E d w a r d D . T o la n d
H ow ard S , G raham ,
J o se p h R . W a in w r ir lit
S a m u e l F . H o u sto n .
W i l l i a m D . W ln c o r .
*

O N

S U B J E C T

in t e r e s t A llo w e d o n D e n o s i t s S u b j e c t t c C h e c k .
A c t s a s T r u s te e u n d e r R a ilr o a d
a n d o th er
M o r t g a g e s a n d is a u t h o r i z e d to a c t a s E x e c u t o r ,
G u a r d ia n
A d m in is tr a to r a n d T r u s te e .

FOURTH & PINE STS., ST. LOUIS
D IR E C T O R S
J o s ia li L . B l a c k w e ll ,
E r n e s t H o e n J r .,
G e o r g e B lu m e n th a L .
G e o r g e C . J e n k in s ,
G
C ly m e r B r o o k e ,
J o sh u a L e v e r in g ,
H . C a r r o ll B r o w n ,
O sc a r G . M u rray
John W
C a s t le s .
W a ld o N ew com er,
B< H o w e ll G r is w o ld J r ..
H e n ry F . Shoem aker
A . B a rto n H e p b u rn ,
Jam es Speyer
G r ie r H e r s h ,
H e n r y W a lte r s .

B A N K IN G

I N T E R E S T

SU R P LU S

CHARLES E. ROGERSON, President
BAMXING, SAVINGS AND TRUST JAMES LONGLEY, Vice-President
DEPARTMENTS.
WILLIAM C. WILLIAMS, Vice-President
G. E. GOODSPEED. Treasurer
W. L. WHITNEY, Assistant Treasurer
HENRY A. FENN, Sec.&Mgr. Safe Dep. Dept.
H. D. HEATHFIELD, Assistant Secretary
F. J. BURRAGE, Assistant Secretary

B A L T IM O R E .

G E N E R A L

C A P IT A L ,

M ASS

Transacts a General Trust
Banking Business.
on

T R A N S F E R

» $7,000,000

BOSTON, MASS.

T ru s t C om pany

A llo w e d

E S.

A

A L L O W S

T . JEFFERSON COOLIDGE

AND

In te re st

B U S IN E S S .

B O A R D
P r e s id e n t.

H en ry C . Jack son ,
G eorge E . K e ith ,
G a r d in e r M . L a n e ,
A rth u r L y m a n ,
M a x w e ll N o r m a n ,
R o b e r t T . P a in e 2 d ,
A n d r e w W . P re sto n ,
R ic h a r d S . R u s s e ll,
H o w a rd S to c k to n ,
C h a r l e s A . .S t o n e ,
Q u in c y A . S h a w J r .,
N a th a n ie l T h a y e r ,
H en ry O . U n derw ood,
W . Sew ard W e b b ,
W in s lo w .

S afe

BOSTON.

T R A N S A C T S

.

ST O C K T O N ,

C h a r le s F . A d a m s 2 d .
O r la n d o H . A lf o r d ,
F . L o th ro p A m e s,
J o h n S . B a r tle tt,
T . J e ffe r s o n C o o lid g e J r .,
C h a r le s E . D o t t in g ,
A lv a h C ro ck e r,
L iv iD g s to n C u s h in g ,
G eorge A . D rap er,
W illia m F . D r a p e r,
W ilm o t R . E v a n s,
F r e d e r ic k P . F is h ,
R o b e r t F . H e r r ic k ,
F r a n c is L . H ig g in s o n ,
S id n e y W

S e c re ta ry .

M ary lan d T ru s t Co.

BOSTON, MASS.

- $4,000,000

T ra n s a c ts a General T ru s t and
B a n k in g Business
In te re s t A llo w e d on D ep o sits S u b je c t to C heck .
A cts as T ru s te e under Railroad and oth er M ort­
g a g e s ; also as A g e n t for the R e g is te r in g
and T ra nsfer of Stock.

B o s to n
CENTRAL
TR U ST CO M PA N Y
O F IL L IN O IS ,

H IL L

C H A R L E S T O W N .

A U D IT C O M P A N Y
O F ILLINOIS,

MILWAUKEE.
1137 First National Bank Building,
Capital,
Surplus,

-

-

-

-

-

$600,000
100,000

CHICAGO.

Transacts a General Trust Co. Business.

Public Accountants and Auditors*

Buys and Sells
High Grade Investment Bonds.

C. W . KNISELY C. P. A.
President—Manage r.

OFFICERS.
O L I V E R C . F U L L E R , P r e s id e n t.
F R E D E R IC K
KASTEN,
V i c e -P r e s . a n d T r e a s u r e r .
- •
G A R D N E R P . S T I C K N E Y . S e c re ta ry .
F R E D . C , B E S T , A ss t ^ ec .

R e g u la r a n d S p e c ia l A u d i t s l o r C o r p o r a t i o n s , F i r m
a n d I n d i v i d u a l s . F in a n c ia l a n d P h y s i c a l E x a m i n a t i o n
b y e x p e r ie n c e d A u d i t o r s a n d E n g i n e e r s . T a k e s e n tir e
c h a r g e o f a c c o u n t ? fo x G u a r d i a n s , T r u s t e e s , E x e c c t o f f
a n d R e c e iv e r s .