November 9, 1901, Vol. 73, No. 1898

.. ' '

flmitwria

to Aot of Oonirreas. In the v«ar 1901, by the William B. Dana Oompa.nt, tn the offloe of the Librarian of Oongreea.] I Entered according

VOL. 73. SATURDAY, NOVEMBER 9, 1901. NO. 1898.

CLEARINGS— FOR nCTOHER 1901 AND 1900. CLEARINGS— WEEK ENDING NOV. 2 1901. ffAMR ALSO STNCfC JANUARY 1 1901 AND 1900. ALSO WEEK 1900, 1899, 1898. Week ending Korrmbtr 8 (k-tiilii-r. Ten Month*. Clearings at— 1901 . 19O0. 1 001. 1890. 1808. 1801. 1000. P.Ot 1901. 1800. P.Ct. I P. Ctul. I New York 1.866.818,016 1,072,849,698 +2bo 1.284 266 146 870.393.871 t Philadelphia 118.294.997 87 987,408 +8b-e 97, 881.768 73.482.982 New York 5,960,617.011 1.576.833, 18( ' f30-060 713,788.850 988,028,332 +629 80 261.841 88 718.70*' -64 83 849.44-0 Philadelphia.. 489,721,8U6 884,183, Bit r3r8 4 619,710,621' 831,915.780 4-ia-e Pittsburg 18 63d 826 1 Baltimore 22 443 921 80.036.75 > +11-7 16 871408 81.480 360 Pittsburg 168.593,032 137,850, 564 t-92-8 1 ,713.321.04? 836,810,655 +29-2 6 24- +17-4 Baltimore.. 8H.6Jl.ltH; 80.617, 06; +9-9 9H6.8s6.770 889.280,041 4-120 Buffalo i €03 4.889.3u7 6, 760,868 4,721828 8,600,000 +5-2 2 Buffalo 97.081.1181 93.899, 081 -r-17i 250,540,618 814,055,848 +170 Washington 2.376.059 658 99; 9.417 888 3.649 200 8 276,107 •4-8-3 8 887,681 Washington... 11.887.7S0 10,4-2 66.1 4-14*4 117,084,521 100,629,000 +98 Aloany 9.3B7 094 9.621,121 -8*6 1 116 Albany 14,881.809 16,048, 878 -re 131,463,898 1 17.877,050 +11-6 Rochester 660 2.127,806 Rochester 8,848,043 8,630, 686 H40: 87,188,185 86,623,284 +J2-2 3yraonse , 1.809,560 1.173.UE 506.381 1.687,184 Syracuse 0.000.689 4,864, 656 4-21'4 5 1.812,501 47,882.308 +8-7 Soranton. 1,562.896 ], 094.644 182 17* 1,006.341 1,006.484 Scr ntou 6,108,788 4,763, B3S Md-i 66,301.882 47,844,723 +19-8 Wilmington 767 2:6 8»1 880 780.790 Wilmington... 0.743,868 4,178, 61) t-ai-4 43,471,90* 40,093,9HO +8-4 s lnghamton, 840 000 422 40C 877.100 343 600 405 Blnghnmton... 1.608,400 1.679 400 -66 16,035.800 17,O.'5,SO0 -6*8 hester 820 446.883 858 921 Chester 1.467.488 1.C0J 761 _8«, 13,865,132 18,745,837 —3-6 t-Jreensbnrg 858,987 289,364 826.000 185 Frederick 730.018 644, 718 f-14-8 6,666.470 5,674,980 4-17-6 Wheeling. W. Va.., 648 Not Include 4-29-4 Wilkes Barre 766 902 Not include Greensburg.. . 1,884.608 1.49 oj6 16,108.341 14,835.819 +8-2 Total Middle 0.787.440.688 5,273,993, 70C 4-98974 802.169, 36- 716,164,271 4-667 Total Middle 1.647.088,084 1886 898.798 1,418831.780 986,930.147 Boston 037.818,086 589,110 70; +18*2! 8 040.046 616 972,967,038 +21-6 Boston 141.324 .688 134 063 036 167 061.870 153.053 554 Providence... 85.642,900 33.870 ooo +6-8! 2rt8,823, 100 267.387.100 +80 Providence 7 883 800 6 303 100 7118.400 6,070.100 Hartford .... 18.0&4.8M) 10,086 819 4-13-0 113.472 in. 10^,810,036 +6-4 Hartford 2.468,717 8.334 833 2,456.946 8.415 648 New Haven.. 7.854,178 6.478 000 +13-6 87,531 218 62,773,247 +7-0 New Haven 1.457,890 1,484,727 1.034 2S2 1.749.684

Springfield , 1.006.888 1.777,478 1,095.107 1,888,380 Sprtugneld. .. 6,860,711 6,868 98* +16-3 61,06.', 98$ 55,084,958 + 10-9 Worcester — 7,867.114 6,278 12k> -f-26-8; 64,705 981 54,011,708 +188 Woroeiter , 1.768.881 1,084,778 1,677,863 1.647,619 Portland 6.7 18,748 6,683 ,584 +20-81 85,209 637 45.894.469 +80-0 Portland 1.686,664 1,424.120 1.008.941 1,788.913 Fall River.... 4,618.783 5.105 718 -11-81 85.825 704 81.813,085 +1-9 Fall River , 1.070,382 1,261.080 1,169,088 744.807 Lowell 2,8 75,045 2.787 034- +5*4 84,751 351 28.684,303 +9-4 Lowell 688.873 618,670 078.353 709.803 New Bedford 8.478,487 2,918 ,77e fll-4 19.678 898 18.185.893 +7-8 New Bedford , 706.271 1.181,810 844,088 1,092478

Holyoke 1,684.748 1,444 ,85V +61 14,886 837 18,268. U4 +12-2 Holvoke , 488.863 048.079 678,584 Total N. Bng 725.188,678 618,006,013 +17-1 6,785,688,081. 6,653,638,500 +20-0 Total New Bng.. 160,947.888 152,862.334 177.408,482 170 036.007 Chicago 709,286,104 607,631,037 4-10-7 8,389.420,218 5,622,048,210 --12-8 Chicago 168,682,881 144.489.831 184.294.716 181871.696 Cincinnati 80.101.800 67,616,653 +187 808,878,150 054,848,350 - -98-6 Cincinnati 17,057.100 14,783 3)0 14.410.26C 13.800,800 Detroit 68.594,410 88.086.896 +85-1 458,038,710 852.749,413 --28-9 Detroit 12.780,670 8 880.684 8,890.818 7,220.888 Cleveland. 00,813,878 10,180,885 4-20-2 688.493.13) 467,998,832 --21-8 Cleveland , 14.158.080 10.610 161 10.688.416 8.085.885 Milwaukee 80,304.446 97.889,441 4-108 268.171,887 245,881,168 +8-3 Milwaukee 8.474.742 6.649.032 6.190.080 6.436.847

Columbus 81,380,900 24,69 3,0 00 h2fl-9 271,483 400 221,308,000 +22-6 Columbus , 8,600,000 6 817,800 6.891.100 8,868.700

Indianapolis .. 19.060.889 18,802,426 +87-8 164.585,872 131,143.219 4-25 6 Indianapolis , 4 420,808 8,889,667 3.160.098 8.088.824 Peoria 11.878,740 10,067,908 +8-7 98,09 1,8 39 86,538,741 +11-5 Peoria 2 838 870 9,829 691 2,117.472 1.686.761 Toledo 10,840.028 10,837.401 +4-9 89.880,826 98.675.4C6 +8 3 Toledo 1,988 821 2.198 681 1,019 306 1 894.848 Grand Rapids. 6,380,810 6,649,807+140 A7.860.83l 52,299.886 +107 (irand Rapids 1.867,826 1,185,680 1.860.317 978.287 Dayton 5.869,780 5,179.011 +8*6 80,788.788 48,521.718 +1-7 Dayton 1,191,870 1,193 970 1,081.162 718 888

Bvansvllle 4.150.121 4,093,5151 +3*3 41.087,664 43,772,194 -3-9 HvansvlUe , 868,496 898,618 943.819 707.186

Youngstown . 9.178.888 1,409,582+54-6 18.476.53P 14,378.318 +28-5 Vouugstown , 474,499 286.688 867.918 801837 Springfleld.m. 9,441.93d l,883,736|+22-7 93,403.521 18,268,387 --16-8 Springfield. Ill 600 337 432,218 406.686 485 888

Lexington. 9,059,379 9.180,587 —55 91,480,498 18,071,239 --12-4 Lexington , 467,606 458.018 412.466 880.176 +16-9 488 Akron 9,611,800 8.833.603' 94,310,001 19,557,760 - -243 Akron , 552 000 000 417,100 846.7C0 +7-9 Kalamazoo 1,808,480 1,768,8011 17,844.880 10,9Ol,68B +58 Kalamazoo , 891,838 386,913 879.808 804.710 Rockford.. 1,576,648 1,961,980 4-250 14.638,013 12.813.635 +14-6 Rockford 819 848 263.498 807.528 180,971 Springfield. 1,460.908 1,279,202 fl39 13,423,657 19,808,137 +4-8 Springfield, Ohio.. 304.054 898.079 258,5181 180114 Canton 1,784.614 1,897,031 ^3"8 14,688,866 11.757,902 +260 Canton 330 662 884.811 888,726 806 906 Jacksouvllle.Il 719,061 710,109 +1-8 7 198,573 6,8dl,008 -18-1 Jacksonville, 111... ) 60.684 181.728 140,788 Ouincy.... 1,198.400 961,667 +88-1 18,041,168 9,839,357 -23-4 Qulncy 878,408 189,732 Blooming-ton.. 1.882.886 1.017,419 f-81-1 11.890,926 9,222 6 8 --23 8 Bloomlngton. 800,184 243.636 672,707 675.456 +13-9 140.000 Jackson, Mich 6.239.441 6,507,888 -13-3 Jackson , 183.246 Ann Arbor 41.823 Not Inolude al. Tot. M. West. 1,048.165.100 879,795,818 +19-1 9.488,808.148 ,180.918,304 +15-8 884,081.235 901.202.863 198.709,226 San Francisco 118.988.182 104.703,409 4-188 863,855,512 843.848,219 +14-2 Tot. Mid. West'n. 170 866 630 Salt Lake City. 18.2*8 132 11,232,481 +63-2 148,455,751 84,475,867 +67-1 San Franclsoo 87,708.7 28 24.191 07? 80 070 651 18 036 111 Portland 14.130.657 10,042.843 +-40-7 90,180,521 85,200.914 +12-8 Salt Lake City 3.881.8,8 8 44* 981 8 066.618 1.936 930 Los Angeles.. 14.874,247 10.277.50t +40-0 128,893,23( 89,678,330 +29-8 Portland 8.284.449 2,647 108 2.313.S9« 9 456.073 Seattle 18,039,345 18.432.3d8 +311 116,798,027 108.640,684 +6-7 Los Angeles 8.082.646 2.089.918 1,896.222 1,677,656 Spokane 8. 300.250 6.883.230 t-17-1 48,374,884 46.698.980 —0-7 Seattle 8.020,086 2.6*8 060 2,802 818 1.980.808 5,682.668 6.811,36* +6-1 Tacoma 48,576,146 43.806,084 +10-9 Spokane , 1,289,723 1.27S.657 1,781.7601 1,074,480 9.583,1:51 Helena 8,863,882 -8* 98.255,52 28,600,883 +104 Tacoma. ., 1.8C0.00C 1.178.030 1,161,588 844 471 Fargo 9.835,338 1,569,061 +42-5 14,815,2* 13,188,855 +12-0 Helena 008.0BC 618.512 758.885 006.669 Sioux Falls... 1,278.833 818,041 4-56-5 9,178,87" 6,336,730 +43-7 Fargo 468.281 850,748 498.28? 483 600 288,878 174,426 151,469 187.673 Total Pacific 201.091,851 165,691.460 +-21-4 1,699,918,786 ,867,479,692 +17-0 Sioux Falls 643 Kansas City. 88,871,781 79,818.66b +11-9 754,760,206 022,034,812 +21-2 Total Paolflo 46,466.983 87,607,429 40.090 88688103 Minneapolis. 76.037,138 65,161,664 +16-71 470,876,813; 466.623,378 +0-8 Kansas City 18,854.707 18,998.478 16,019.431 14.600 000 Omaha 34,441.906 30.378.447 4-134 376,875,868 288,889,687 +4-8 Minneapolis 18.721,480 18,188 866 15.118 814 12 881.660

8t.Paul 25,818,198 95,149.862 +1-8 806,394,878 i 200,512,689 +2-4 Omaha 0.703.806 6,928 260 8.823 498 6,888.336 Denver 91,443,722 80,118,0491 -i-6-0 lv40,38B,714i 179,861,666 +5-8 St. Paul 6,019 8S4 5 147.166 5,703.858 6 869 54? St. Joseph... 81,9*8,093 16,657,280 4-31-6 180,816,526 176,880,866 +120 Denver 8.867.897 8.760.086 4,835.739 8.891.051 Des Moines.. 7,658.088 7,009,634- +9*8 68,860,820 61,786,218 --11U St. Joseph 4,478 283 8 917.608 3,274,880 9.813.048 Davenport,.. 5,562,158 4,72.4,69- 1+17-6 44,120,838 88,707,650 --140 Des Moines 1,030.178 1,669,130 1,391.904 1,468 687 1 Sioux City... 7,282,111 0.462.871 4-12-7 64.678,8861 48,758,610 --12-2 Davenport. 1,188,386 818.180 1. '18.178 878,236 Topeka 5.669,688 8.811.091+47-3 40,992,6241 81,729.860 4-48-1 Stouz City 1,880,000 1,802408 1,177.695 903.780 Wichita. 2,611.230 1,931,480 t-86-8 23,155.8 Jl 21,281,460 +8'8 Topeka 1,876.026 897,610 874 686 668 537 Fremont 742.230 678.709 +23* 6,635,396 6,865.887 +114 Wichita 676,798 469808 487.789 420.707 106,674 100.406 111.768 161.037 Tol. oth'rW 297,868,486 261,837,643 +13-71 8,837,888,962 ,116,970,108 +106 Fremont. Colorado Springs.. 036,184 840.762 St. Louis 197,614,693 167,849,146 + 85-1 1.836,103,871 ,871,876,304 +33-8 473 274; 50 889.061 New Orleans. 67.196,088 58.083.612 -3-D 183.439,878 480,861.799 +10-8 Tot. other Wast. 00,598,363 59,868.868 06 Loulsrll.e . 89,102.872 85.811,65* +11-8 883,637,841 880,803,374 +9'4 St. Louis 43,319 974 31.488.690 81.058.615 81.809 640 Qalveeton 9 1.809. SCO 18,328.000 +19."- 153,185,760 124,011,000 +23-8 New Orleans 11,811,847 11.123 318 9.834 S91 8 908 189 Houston 28.090,120 §0.343,994 -5-4 180,338,170 154,208,603 +18-8 Louisville 8 880 801 9,203 014 9.587.167 7.883,671 21,884.303 -88-0 Savannah 3,418,496 141,660,716 198,763,095 -97 8 Galveston 4.484.600 4,624.600 4.060 850 6,188,160 Richmond 10.901,128 15,166,128|+ll-6! 166.324,S2H 144.980.362 +18-7 Houston 7,888.086 0985.898 4.032 257 4.888.078 Memphis 15,785.147 18,176,819 -18-1 130,921.833 +9-7 8,818 696 3.830.139 Atlanta 110,867.688 Savannah 4 087.786 6.699.816 13.290.800 11.04J.09J (-197 86.862,054 75,780,895 +14-6 Richmond 8,818.032 8.108 148 9.983.886 3.883899 Nashville. 0.866,988 -4-8-8 0.102,788 64,160,871 68,714,898 +8-3 8.807.468 8.882.764 9,098.671 2,073.848 Norfolk 0.501,792 Memphis. 7,180.281 -8-6 68,958,849 61,232,660 -8-2 2 428,088 9 276.143 8,099 916 1,817,880 8,886,033 Atlanta Augusta 8,113.880 +9-6 62,698,777 61,810,873 +1-5 1,496.243 1,400 607 1,496,049 1,848471 Knox vllle 8,907.832 Nashville. 8,536,850 4-12-4 26,620,546 93,938.091 +11-1 1.898,866 1,673.871' 1,618.634 1 821.768 Fort Worth... 7.581,154 Norfolk 6,618,784 +81-i> 61,802,870 40.410.968 1-6 1,810.316 1,168 303 l.OCO 566 1.814,408 Birmingham... 4,240,111 +5 Augusta 4,162.816 +1-4 87,989,112 86,742.408 +0 2 Knoxvllle 697.686 648,004 037 068 000 038 Macon 3,973,000 4.031.000 -1-7 87,991,000 27.945.000 -0-1 1.689,68 S 1.180.841 711.876 888 068 Little Rock.... 4,984,436 —o-i Fort Worth 2,833.640 +518 20.788,018 20,786,003 9 1,068.888 1.000.000 900,000' 686 384 Chattanooga... 9.166,193 +16-0 Birmingham 1,849,651 19,837,469 16,980,079 4-18«6 687,000 886,000' 097,000, 631.000 Jacksonville... 1.6 58,486 880,267 +66'9 Maoon 18,300,808 10,621.812 +87-00 Little Rook 781.201 699 431 469,068 807,060 405.881 809.884 Total South 491,563.128 41B.585.79k +10-0! 8,921,480,810 Cnattanooga 689 941 880.371 3.,301,085.907 +13-8 206 038 181 374 Total aU 9,681,831.794 Jacksonville 810.081 920 468 " 7,631.819,828 4-861 98,870,558,080 88,364,282,076 +44-0 79,908 084 76 651.424 Outside N. Y 3,580,711,783 Total Southern.. 98.083.870 86.143.74- 3,048.087,643 4-17 8i,120,76J,280 97.881.254,294 +17-3 1 418 1 Total all 2.164 008.679 L778979 948 803 410 493.416 828 250" 1144 9.8 688 022 561 Montreal 78.260.940 65.883.678 4-18 6 728,763,857 Outside N. York. 797 794.057 704.123 Toronto 63,883.377 698.874,006i+81-7 47,846.005+14*8 609.626,416 417,820,180 +28*0 10 309 151 14.048 4ie 1800.014 14.115.078 Winnipeg 16.174,8»7 Montreal 8.188 477 4-65-1 83,611,87f 84.468.49J 10"7 Toronto 11.718 085 10 108 800. 873 660 9,806,880 Halifax 7.250,874 +4*8 f 6,820,607 I 2,465.485 Hamilton 71,898,237 63,488,878 -4-18-8 Winnipeg 8.608 668 2.814 477 145,86* 4,446.605 8,648.447 4-88 84,893,481 83.838,583 1068.293 1,670.411 ,800,000 1.2C8.780 St. John 8,905.343 +69 Halifax 8.R02.4HO; 4-1-v* 38,754,756 30.818,316 +8-2 Hamilton 989.588 786.9761 914.838 707,448 Victoria 2,778,174 8.C87.110 -8-6 88,116,088 27.084,8541 —8 4 St. John 718 688 058.882 888 640 580 098 Vancouver . . 4,048,259 -0-2 4,856,317 88,858,580 -4-1-3 845,712 627 552, 774 380 700,668 33,407,883 ; Victoria Tot. Canada.. 170.731,471 1,090.706 1.000 000 837,688 684.018 144.898,033 +18-8 1.637.814 t!8i ..*94,078.571 +16-8 Vanoouver Quebec 1.354.583 Not Include < f*~ Table 638 Clearings by Telegraph on page 9S». Total Canada ... 86,483 700 33 118 030 1.656 89 748.188 978 THE CHRONICLE. [Vol. LXXIIJ.

Chicago Burlington & Qaincy, the St. Paul, and per- 1 CIA A TI HE FINA N L SITU ON haps other companies. Altogether the Street as- The election on Tuesday in thiB city has opened a sumes, and the assumption looks probable, that new era. Oar history is spotted all over with just the adjustment of the old difficulties has such events. They are epochal in character and a been so comprehensive in its nature as to strengthen signal evidence of the inherent strength and correct- the whole railroad situation in the North- ive force of our institutions. Being of necessity a west. If this anticipation be a correct forecast from nation of workers, absorbed in making our daily the reports afloat, it clears the surroundings of much bread, we do not clearly observe, and so for the time that has been heretofore disturbing. Especially does being endure with surprising forbearance, the pecula- it favor the idea of steadier rates all through the West tions and evil practices of officials. This goes on until and Southwest. We do not look for a millennium of the Deveries get so bold in their operations that the peace in railroad circles; but it is obvious that if all public attention is challenged and the public conscience the railroads of the country were owned by one man aroused to the degree that differences of party are there would be no war; if one board of directors man- swallowed up in the one purpose to correct the wrong. aged them all, war would be quite improbable. The Unfortunately victory has not always been faithfully inevitable conclusion is that the nearer we get to this Improved. Such experience has led to discourage- union in management the less chance remains for ment on the part of the people, and in this case to differences and misunderstandings. Heretofore the delay in applying the remedy until it appeared as if weakest link in the chain binding our carriers to- the evils had become so inwrought and intrenched as gether has been the roads of the West. If that de- to make rout impracticable. Yet the uprising this fective link is taken out and another without a flaw week has been so general, among all classes, as to be substituted, are not through rates and all rates most overwhelming. Every branoh of the City Gov- made more stable ? ernment has been secured in the interest of the The turn in sentiment this week which these and people. other events have induced in our security market has The results worked for on the present occasion led to the prevalence of a more hopeful outlook in have been honesty, purity and economy—and they affairs in general. Among other changes of view the must be attained to make what has been gained other presumably unfavorable effect which has for some than ephemeral. By economy we mean chiefly lower time been anticipated almost from week to week in taxes. The fact that city real estate, residence prop- railroad earnings, because of the crop shortage, has now erty in particular, is to-day of all property the most been put off until after the first of January. Even severely burdened and the least productive has been then, judging from recent signs, the antici- a source of wide influence in determining this elec- pated decreases will have to be postponed indefi- tion. Since larger New York became an entity nitely. The quantity of grain which has arrived both valuations and tax rate have been rising, until in at the Western Lake and Kiver ports since many cases of realty the city is taking all the revenue. the first of August has aggregated consider- Certain exceptionally situated business localities are ably less than last year without preventing appreciating in value, being sought for by large cor- constant increases in the earnings of the roads. Be- porations and twenty-one-story buildings; but as a sides, in discounting the future the above suggestions rule real estate has enjoyed no increase in value, and show that we have to reckon all the time with new en- higher valuations have been made only to legalize terprise, with an expanding demand for manufac- borrowings and conceal expenditures. Besides, heavy tures and other products, and probably also with less taxation applies to personal property also, and hence cutting of rates than in former years. Possibly after altogether makes it impossible for men of moderate Christmas the weather may interfere with freight means to have a residence in the city. We have had movement. Last winter was a remarkably favorable short life as the dowry of one reform movement be- season for railroad traffic—very little stoppage by cause it resulted in no economies but larger expendi- snow and small extra cost in moving cars; the pre- tures. No doubt those who have been elected on this vious year also was fairly propitious. The probabili- occasion will prove equal to stopping all official dis ties consequently afford less assurance that the coming honesty and to puttiDg forth every effort to cleanse the winter will be equally advantageous. But weather is city of the vile practices of immorality which have not much of a drawback when business is prosperous; been disclosed. But we think thrift is the basis of it can increase the cost of repairs and delay the move- moral goodness in the citizen and of rectitude in of- ment of freight, but it cannot lessen the aggregate ficial life, and disappointment will be felt on this occa- to be moved. sion if its practice is not made evident by lower taxation. Some one has said that a short corn crop here and a short wheat crop in Europe—though our aggregate The election results have imparted new confidence railroad earnings may afford no record of these fail- in business circles. "When the righteous are in ures—are a source of weakness that will assert itself authority the people rejoice." Another matter for in less purchasing power sooner or later. Per contra, gratulation has been the settlement of the Northern there have been cases where moderate crops here and Pacific affair. We say settlement, although the de- short crops in Europe have been followed by trade tails of the agreement have not been announced, nor activity all over the world. Trade on such occasions has it even been officially stated that the arrangement was already aglow here and seemed to introduce and is complete in all its parts. But enough we think is communicate a term of industrial progress every- known to make it safe to assert that a satisfactory where. The above suggestion, as to the short adjustment has been reached of the interests of all crops being an inevitable source of weak- the parties concerned, not only in the stocks of the ness, comes from one who thinks that the Northern Pacific, but also of the Union Pacific, the ground is the only part of our wealth-produc- November 9, 1901.] THE CHRONICLE. 979

ing organization which is worthy of considera- Louis & San Francisco; the increase of $200,691, or tion. As industrial affairs have bhaped themselves, about 12 per cent, on the Missouri Kansas & Texap, producers, carriers, hanking facilities, buyers, and and the gain of $392,000, or nearly 13 per cent, on consumers, are partners in every department of work. the Missouri Pacific. It may be said that expenditure is not production. We might refer also to the continued improvement No more is food or cotton without a market, left on in earnings shown by the Pennsylvania Railroad, a the ground to rot, wealth. Only do they become system always accepted as typical of the country's wealth when a carrier is found who is able to place varied and diversified industries. In commenting last them where a demand in excess of cost for delivery week upon the action of the management in repeat- exists. In other words the industrial machine is a ing the extra dividend declaration made last year, we complex affair in which the producer is only one referred to this fact, but did not then have the Sep- agent; after production a consumer has to be found for tember results before us, which have since come to the commodity and the facilities procured for reach- hand. It appears that for that month there was an ing him. Accumulated wealth thereby becomes a increase of $688,900 in gross and $362,200 in net on power, and the man who consumes, whether he pro- the lines east of Pittsburg and Erie and an increase duces or not, is as needful to complete the wealth- of $865,000 in gross and $371,800 in net on the lines producing circle of forces as the man who turns the west of Pittsburg, making a gain of $1,553,900 in gross soil. Every wage earner becomes a consumer, and 1b and of $734,000 in net on the combined system, not thus a spoke in the wheel of activities however he including the roads controlled but separately oper- earns his money, whether in mere service in the ated. But this is the result for simply a single household of the man of wealth, or in building his month. Taking the nine months to September 30 private roads and walks, which are wholly useless to the increase on the combined lines reaches over ten commerce, or sweeping crosswalks in cities for dainty million dollars in gross and nearly six million dollars feet to walk over dry-shod. in net—in exact figures $10,048,200 and $5,972,800, respectively. The following furnishes a six-year com- As stated above, notwithstanding the shortage of parison of the gross and net results on the lines east the corn crop, there is no check to the improvement of Pittsburg and Erie—the only portion of the system in railroad earnings, which has been a feature for so for which we have the data for such a comparison. long. For the month of October the increase prom- LINKS BAST OF 1901. 1900. 1899. 1888. 1897. 1896. ises to reach imposing dimensions. We shall publish PITT8BDBO.

our usual monthly compilation and review next week. September. $ 1 • * 9 • dross earning!.... 7,927.489 7,288,539 0.814,4:9 6,790,139 5.850,639 5,176.339 A preliminary tabulation which we have prepared this Operat'g expenses 4,711,128 4,117,428 4,266,728 3,567,488 8,709,728 3.871,728

week shows an increase of $6,077,881, or 11*91 percent, Net earnings.. 3,188,311 2,881,111 2.378.711 2,222,711 2,149,911 1.804.611

on the 73 roads which have furnished returns thus far. Jan. 1 to Sept. 30. Gross earnings 68.768,106 62,251,906 52,461,509 4«,03S,806 46.783.506 46,060,970 is that this follows It to be remembered successive Operat'g expenses 41 ,754.409 12,140,599 37,457,099 33,811,199 32,057.699 33,349,267

large gains (speaking of the roads collectively) Net earnings.. 24.018,607 20,111.307 15,001,407 14.727,607 14.730,607 18.711,713 in all the years back to 1896. For some of the

this is companies year's improvement of almost There was no change in the official rates of dis- phenomenal proportions. The New York Central count by any of the European banks this week. Open reports an increase of over a million dollars for the market discounts, however, remain firm at all the month—$1,004,109. ©f course in this case we must principal centres. One important incident of the suppose that the passenger traffic to the Pan-Ameri- week was the adoption by the French Ministry of can Exposition is in at Buffalo good part responsible extreme measures in order to compel Turkey to com- for the of the magnitude improvement, but this ex- ply with the demands of France for the adjustment of planation hardly applies in the the case of other certain claims of her citizens, settlements of which roads included in our totals, such companies as the had been promised by the Porte. A French fleet was Erie and the Lehigh Valley never furnishing early ordered to Turkey, and on Tuesday it arrived at the preliminary estimates. Island of Mitylene for the purpose of seizing the Cus- The truth is, the improvement extends to all classes toms, and on Thursday the principal ports of that of roads and to all sections of the country. The Great island were occupied. The Porte thereupon complied Northern certainly can not be claimed to have bene- with the French demands to settle all monetary fited to any appreciable extent from the Exposition, claims and to give complete guaranties. yet this system reports an even larger increase for the It is announced that the Russian Minister of Fi- month than the Central, New York the gain being nance has approved of the St. Petersburg municipal- $1,140,081, or nearly 40 per cent. Then there is the ity's proposed loan of 30,000,000 roubles, and it is Canadian Pacific, whioh has added to its last $798,174 expected that the loan will be placed abroad. A Yo- year's totals, a gain of nearly 30 per cent; and the kohama, Japan, dispatch to London says that the Northern Pacific is distinguished in the same failure to sell bonds to the amount of 50,000,000 yen way, its increase reaching the sum of $1,060,815, in America has temporarily unsettled the Stock Ex- or 30 per cent. Of course it must be admit- change. It is also reported that a new plan has been ted that there has been a special stimulating adopted to provide capital for the extension of rail- agency in these cases in the splendid spring-wheat roads and telegraphs through the sale of 16,000,000 crop harvested in the Northwest the present season. yen in bonds to the postal savings banks. The plan But very good returns come also from the Southwest, also contemplates the sale of bonds in the domestic where both the cotton crop and the corn crop the market, and foreign money will not be sought except present season are smaller than in 1900. The only dif- on favorable terms. ference is that in these instances the gains are not so exceptionally heavy. In illustration we may point to The feature of the statement of the New York As- the increase of $267,857, or 15 per cent, on the St. sociated Banks last week was an important loss of , •

980 THE CHRONICLE. [Vol. LXXIII.

3.338,800 incaBb, whereas a Bmall gain was expected. respondent further advises us that the loss wia due to The loans were increased $7,333,200 and the deposits the export of £5,000 to Peru, to £486,000 net ship- were augmented $3,566,300. The Burplua reserve was ments to the interior of Great Britain, and to the im- reduced by $4,230,375, to $10,482,800. The Assay port of £20,000 from Australia. Office checks, representing $1,000,000 Yukon gold deposited at San Francisco for the account of the Bank The foreign exchange market was firm during the of British North America, as noted last week, arrived, week, and the offerings of bankers' sight drafts and were paid at the Sub-Treasury this wetk, and against shipments of gold seemed to make only a checks for $470,000 for gold deposited at Seattle for slight impression upon rates, these c LTeriDgs being the Canadian Bank of Commerce were also paid. promptly absorbed in consequence of a more or less There was a transfer by the Treasury of $400,000 to urgent demand for the repayment of maturing ster- London on Wednesday for account of the Navy De- ling loans and also for remittance. One noticeable partment and a transfer of $500,000 to Manila for feature of the week was the liberal supply of cotton the War Department. The $500,000 gold which, as billp, which appear to be coming forward in much reported last week, was expected to reach San Fran- greater volume than has hitherto been the case. One cisco from Australia, consigned to the Bank of British of the largest dealers in commercial bills reported the North America, arrived on Tuesday, and $1,000,000 receipt this week of about £500,000 of cotton drafts, in Japanese gold, consigned to Lazard Freres and and presumably other large dealers have received others, was received on Thursday. The Sierra left equal amounts. Notwithstanding these large sup- Sydney, N. S. W., November 6, with $500,000 gold for plies, however, the inquiry for them is so urgent that San Francisco. they are quickly absorbed and rates are well main- The exports of gold to Europe this week were $1,- tained. The gold which went forward to Paris this 502,109 38, by Lazard Freres, which was sent to Paris week appears to have been covered with bills upon on Tuesday; $1,006,609 30 more gold was sent by this London which, as was noted last week, will be paid house to Paris on Thursday, and Muller, Schall& Co. on presentation with the proceeds of Paris exchange shipped $250,000 American gold coin to London by on London. The shipment of $250,000 American the same steamer. There were no engagements of gold coin to the British capital was reported as a gold for shipment to Europe by the steamers sailing special transaction. It is presumed, however, that to-day (Saturday). The shipments for the week were the draft against this export will likewise be settled $2,758,718 68. This makes $35,245,544 15 since the with Paris exchange. The Asaay Office paid $1,261,- beginning of the year. Payments at the New York 945 52 for domestic bullion. Gold received at the Sub- Treasury for unmatured bonds bought under the Custom House during the week $266,158. order of October 31 have amounted to $4,579,902 64. Nominal rates for exchange are 4 84^ for sixty-day The total of payments for such bonds since April 2 is and 4 87^@4 88 for sight. Rates for actual business $47,249,059 25. opened on Monday unchanged for long and for cables, compared with those at the close of last week, at 4 83£ Money on call, representing bankers' balances, @4 84 for the former and 4 87f@4 87J for the latter; loaned at the Stock Exohange during the week at 4 sight sterling was offered at one-eighth of a cent lower, per cent and at 3£ per cent, averaging about 3| per at 4 87^, the bid quotation remaining unaltered at cent. On Monday loans were at 4 per cent and at 3£ 4 87. On Wednesday, while long was unchanged, per cent, with the bulk of the business at 3f per cent. short and cables fell off one-eighth of a cent, to 4 86^ On Wednesday transactions were at 4 per cent and at @4 87 for the former and to 4 87^@4 87§ for the lat- 3| per cent, with the majority at 3| per cent. On ter; the tone was, however, firm at the close and it so Thursday loans were at 4 per cent and at 3| per cent, continued on Thursday, though no change was made with the bulk of the business at 4 per cent. On Fri- in rates except for cables, which were one-eighth of a day transactions were at 4 per cent and at 3f per cent, cent higher, at 4 87f@4 S7f . The market was firm with the majority at 4 per cent. Banks and trust on Friday when sight advanced one-eighth of a cent. companies have loaned at 3£ per cent as the minimum. The following shows daily posted rates for exchange Very little business is done in time money and rates, by some of the leading drawers. are entirely unchanged at 4£ per cent on good nrxed DAILY POSTED BATES FOB FOREIGN BXOHAHOE. Stock Exchange, and 5 per cent on industrial collateral, for all periods from sixty days to six months. The FBI., MOK., TUES., Wed., Tbtjb., FBI., transactions in commercial paper are chiefly confined Nov 1. Nov. 4. Nov. 5. Nov. a. Nov. 7. Nov. 8. 86 Broi j 60 day* 4 85 : 81* 81* to out of town, mostly at the East, and very few sales Brown (Sight..., 488 88 88 88 83 Sarins. (60 4 84* are made to local institutions. The offerings dan 84* ; 81* 81* 84* are quite Magoun & Co.. I Sight..., 4 87* 87* E8 88 88 moderate and not much high-grade paper seems to Bank Britlih ( 60 day 4 84* 84* 84* 84* 84* be No. Amerlcf... Bight... 4 l 87* 87* pi 87* 87* 87* made. Rates are 4^@5 per cent for sixty to ninety Bank of 1 00 day 4 81* 81* < 81* 84* 81* Montreal. , (Sight... 4 87!* 87* P 87* 81* 87* Bank 60 i 4 day endorsed bills receivable, 4f@5 per cent for prime Canadian J day 84* 81* 3 81* 81* 84* of Commerce. \ Sight... 4 81* 87* o 87* 87* 87* and 5@5£ per cent for good four to six months' single Heldelbach, Iok (60 day 4 81* 31* a 84* 84* elhelmer & Co, {Bight... 4 87* • 87* H* 88 88 names. LaiardFrerei.. (60 days 4 84* 84* 81* e4* I Sight,.. 4 97* 87* j n* 88 88

Merohanto' Bk. ( 60 dayi 4 81* 81* 84* 84* 81* of Canada (Sight... 4 87* 87* j 87* 87* 87* The Bank of England minimum rate of discount remains unchanged at 4 per cent. The cable reports The market closed at 4 83£@4 84 for long, 4 87® discounts of sixty to ninety day bank bills in London 4 87£ for short and 4 87£@4 87f for cables. Com- 3^ per cent. The open market rate at Paris is 2&@3 mercial on banks 4 83£@4 83£ and documents for pay- per cent and at Berlin and Frankfort it is 3£ per cent. ment 4 82*@4 84. Cotton for payment 4 82£@4 82|, According to our special cable from London, the Bank cotton for acceptance 4 83£@4 83} and grain for of England lost £470,873 bullion during the week and payment 4 83f@4 84. held £35,183,650 at the close of the week. Oar cor- November 9, 1901.] THE OBKONIOIJ3. 981

The following gives the week's movements ol year, conditions favored a fair light on legitimate money to and from the Interior by New York banks. issues, with the chances, if anything, favoring the party in control. The times were good, the dominant litctivtd bv BMwtd bv Ntt InUrior Wttk Mnaint November 8, 1901. organized, and a Btrong and very N. T. Bank*. N. T. Bankt. Uovtment. party thoroughly party voter's 45.119.000 I3.s07.000 Gain I1312.00C ski! t'al appeal made by that to the loyalty 87 4.000 649.000 (lulu. fc26,00< to national issues. Yet in the face of this, the huge Total gold and laaal tenders 46 993.000 14,456.000 Gain. ll.6S7.0i majority normal to Manhattan Island melted away, to be replaced by a handsome plurality for the opposi- With the Sub-Treasury operations and gold exports tion. the result is as follows. The victory was won, as every one is now aware,

Into Out o! Ntl Chant)i tn solely by appeal to issues of municipal government. Wuk Cfwtina Xotember 8, 1M1. Bantu. Hanks. Bank Holding Certain conditions in the administration of New Banks interior movement, aa aboTe 15,993.000 14.466 000 Gain ll.537.00C York's alTairs had become intolerable ; they were Bab-Treasury oper. and gold exports 84.600,000 23,760.000 (Jaiu 760.00C 180.403 000 188,808,000 Gain. 18,287.000 properly forced to the front in this campaign. We have never been able to recogniza even the theoreti- The following table Indicates the amount of bullioi) cal correctness of Mr. Shepard's reasoning, that the in the principal European banks. piactices of the police management ought in such a discussion to be subordinated to the larger questions .Vurtmber 7. 1901 November 8. 1900. of rapid transit and fiscal administration. On these flank •} So id. BUv$r. Total. Sold. Silver. Total. great questions of municipal government both parties 1 M % M X 4 were agreed. More than this, both of the mayoralty 86,183.660 86.188,660 81,780,161 81,730151 were who could be safely trusted with Trance 95.807.966 48.983.834 189,141.819 92.009.867 44,548,411 136,658,878 candidates men Uirmanj'... 89,678,000 15,834.000 44,807,000 ?5, 102.000 12,981,000 38,083,001 the working out of these problems. Therefore the Buala 67.014,000 5,881,000 72,895,000 70,711.000 6.068.000 76.768.00C Aua.-Hunff'j t 46,733,000 10,776.000 •6,509.000 38,080,000 9,708,000 47,782.001 proper subject of discussion wa3 a topic on which both 14.007,000 16.995,000 31,009.000 18.761.000 16,616,000 80,897,001 sides were not agreed, and on which one party de- Italy 15,938.000 1,969,900 17,902.900 16.413.000 1,676.000 17.099.00C Netherlands 6,756.600 5,768.000 11.683.600 4,870,000 B.eio.ioo 10,510,<)OC manded definite reform and change. That the abuses Nat. Belg'm • 8,994,000 1,497,000 4.491 000 9.773.000 1,386,000 4.169.CXK charged affected the commoner affairs of life, the Touihls week 811.401.815 108054784 413.455.099 891,883.418 98.582,611 398.965,029 Tot. orev. w'k 311.746.456 102283617 414.089.979 894.621,896 98.085,494 398,208.789 rightful or wrongful execution of what would be

" The division (between gold and silver) given In out table of ooln called the minor details of the city's system of gov- and bullion In the Bank of Germany and the Bank of Belgium is made ernment, surely did not remove them from the proper from the best estimate we are able to obtain; In neither case Is It consideration of the voters. have been claimed to be accurate, as those banks make no distinction In their There weekly returns, merely reporting the total gold and silver, but we elections in New York where the question of clean believe the division we make is a close approximation. streers played an important part, and very rightly so. The Austro-Hungarlan Bank Statement Is now Issued In Kronen and He- mass of voters are apt to take the common - oer Instead of Gulden and Kreutier. The reduction of the former currency t The sterling £ was by considering the Gulden to have the value of 60 cents. As sense view of this phase of the matter, and their votes the Krone has really no greater value than 20 cents, our cable correspondent In London, In order to reduce Kronen to £, has altered the basis of conversion by last Tuesday showed that they have taken it. Nor is dividing the amount of Kronen by 24 Instead of 20. it by any means the least encouraging fact in Tues- day's outcome that the election was confessedly won by plain talk, face-to-face appeal to the voters, and THE CI TV ELECTION. Hit refueal to allow the issue to be diverted or be- There are many conclusions and inferences to be clouded. The trouble with too many past electoral drawn from the remarkable election of last Tuesday contests in New York has been that the voter was be- in New York City, and all of them are of a highly wildered by fine-spun arguments with which either gratifying nature. First among these encouraging candidate could readily match the other, or by appeal inferences will unquestionably be placed the proof to party loyalty which amounted to asking votes for supplied by this election that New York's citizens can the New York Mayoralty because of convictions on be relied upon to vote on purely municipal issues the national money standard or the tariff. The greater without regard to national party ties. It is peculiarly English cities long ago recognized the absurdity of important that this demonstration should have been this latter practice. It was the bringing of city con- had in New York City, and particularly in the Bor- tests down to a plain appeal for proper and hon- ough of Manhattan. est administration, after the manner of a well-

This is not, to be sure, the first time that a political managed corporation, which worked some years revolution has occurred in that community. Mr. ago the civic redemption of Birmingham and Man- Low's plurality of 4,300 in Manhattan and the Bronx, chester. It was with this precise idea in mind that and even Mr. Jerome's remarkable run of 17,000, fall legislatures and charter conventions, in New York materially short of the plurality by which Mayor State and elsewhere, have steadfastly been laboring so Strong was elected in 1894. That candidate's victory to fix election dates that city officers should not be in old New York was won by a margin of 45,000 votes. chosen in the same day and year as officers of the

But 1894 was a year when the opposition party was State and nation. This is a movement of the most everywhere victorious, largely because of dissatis vital consequence to proper city government, and its faction prevalent over the hard times, the blame for good effects were plainly visible this week. Nobody which, as usual, was laid by the general public on the doubts that Tuesday's Fusion victory would have been

dominant party's shoulders. Such votes are in their improbable if not impossible had a Federal election nature blind, or at all events so dependent on the coincided. No one imagines, on the other hand, that circumstances of the hour that they cannot be perma- the vote of Tuesday necessarily foreshadows the allot- nently relied on. In 1897, when the same conditions ment of majorities when Congress or the Presidency no longer prevailed, the combined vote of Mr. Low are next to be passed upon in New York City. and General Tracy on Manhattan Island fell short This very fact that the question of honest and com- more than 10,000 of the Tammany opposition. This petent administration decided Tuesday's voting lays 982 THE CHRONICLE. [Vol. LXXIII. large responsibility on the successful candidates. That shrinkage both timely aL

But it did not grapple with fiscal questions as the real falling off is only about $30,000,000, instead of voters had expected. It did not curtail the enormous the $36,000,000 shown by the face of the figures. ratio of expenditure—utterly out of proportion to that Examining the export returns of the leadiDg articles, of any other well- managed city of the world. This he makes the important discovery that the reduction failure to relieve the taxpayer and the belief that is confined to a few articles, and cannot be said politice, in its narrower sense, had played a more or to be in any seuse general. About three-fifths of less ruling part in the administration, had much the articles record an increase, and the principal to do with the downfall of the party of reform in decreases are confined to three items—copper, 1897. iron and steel and refined illuminating oil. The re- This whole conception of city administration must duction in copper alone is $18,649,227, in iron and be changed unless a repetition of 1897 is to be in- steel $17,827,830 and in mineral oil $3,240,200. The voked. Whatever of good or bad may be said of reduction in these three groups of items foots up Tammany Hall itself, it hardly needs argument, to a $39,717,257, or considerably more than the total reduc- serious thinker, to show that its system of selecting tion in manufactures as a whole, showing that in other executive officers was bound to result in failure. lines the exports have increased. Hence, even if the Power to organize and control the vote in a given dis- analysis stopped here, the conclusion would be auth- trict was confessedly made the reason for appoint- orized that the decrease in exports is not due to a ments to offices upon whose efficient and economical general boycott of American manufactures as a whole, management depended the city's material welfare or indeed to a general reduction in the exportation of and the tax charge on its inhabitants. The thing manufactures. was on its face absurb; it is high time it were This conclusion is strongly and emphatically con- abolished. firmed when the inquiry is carried further. Of the We have hopes of its complete abolition, because shrinkage in the export values of mineral oils, it may the new city government comes into power unfettered be said that the decrease is wholly in price, the by pledges or affiliations, and with a very useful ex- quantity exported in the eight months of 1901 having perience in business administration, private and pub- been 589,058,603 gallons, as against 541,365,331 gal- lic. An occasion has at length arrived when New lons in the same months of 1900, an actual increase of York, like Birmingham, may have some reason to 47,693,272 gallons; while the value has fallen $3,- expect that high grade experts, such as a corporation 250,200. Taking up the schedule of iron and steel with one-tenth this city's revenues would deem indis- exports, it is found that a very large number of items pensable, will be summoned to the responsible offices contributed to the decrease of $17,827,830 in that of the municipality. Successful work in this direction group. There are twenty- five articles or classes of will be quickly recognized by the voters, and as articles in which the value of the exports in quickly rewarded at the polls. the eight months ending with August 1901 amounted to over $500,000, and in practically every one of the twenty-five items there has been a 1HE DECREASE IN OUR MANUFACTURING greater or less reduction in the value of the exporta- EXPORTS. tiou8. Mr. Austin well says that it can scarcely be In the "North American Review" for November charged that a general reduction of exports in the list Mr. 0. P. Austin, the Chief of the Bureau of Statistics of manufactures of iron and steel, including elec- of the United States, has a very thoughtful article trical and metal-working machinery, which go chiefly devoted to a study of the causes responsible for the to Europe, of builders' hardware, which goes to the falling off in our manufacturing exports, which has West Indies, South America and the Orient, of engines, been a feature of the returns for the current calendar which go to India, Africa and South America, of sewing year. We need hardly say that this is a subject in machines and typewriters, which go to every part of which widespread interest is felt, and that the matter the world where civilized man is to be found in any has an important bearing upon the future in many considerable numbers, of wire and wire nails, which go

different ways. For the eight months to August 31 in to Australia and South America and Africa, is due to 1901 these manufacturing exports aggregated 36 a European boycott. million dollars less than for the corresponding What then is the cause of the smaller export values eight months in 1900, the reduction beiDg 12 of iron and steel. Mr. Austin proves by the statistics

per cent. Mr. Austin notes]that this is the first serious that one important reason for the decline is a lower« check we have encountered in the growth of our ex- ing in the price of the articles exported, prices in the ports of manufactures. In view of the fact that much previous year having been, as every one knows, excep- has been heard in the past year or two concerning tionally high in this line of articles. Iron ore fell European combinations against the United States, from $3*3 per ton to $25; pig iron from $18*9 per ton such a contraction in the particular class of exports to $15-1; billets from $306 to $24*8; steel rails from against which Europe is supposed to be most inclined $30-3 to $24*8; iron sheets and plates from3'l cents to % to wage war makes an inquiry into the reasons for the \ cents per pound, and so on all along the line. The other November », 1901.] THE CHKONICLK. 983 reason for the Iobb in iron and steel exports is found in finds, her imports of copper ore from the Cape of a general curtailment of demand all over the globe, Good nope 3,000 tons and from Australia over 7,000 and In the fact that economic conditions in Ger- tons, and of copper wrought and unwrought from many have forced this class of articles from the Ger- Chili about 2,000 tons. Of regulus and precipitate th« man workshops upon the markets of the world at United Kingdom in 1901 imported 59,752 tons, against abnormally low prices. As confirming the correct- 55,833 in the eight months of 1900, and of ore 64,089 ness of this view, figures are presented demonstrating tons, against 76,733 tons. Of copper wrought and that the other leading export countries, with the ex- unwrought the imports into the United Kingdom ception of Germany, have sustained losses the same were only 45,161, against 50,425 tons, but of this de- as the United States. Taking for this purpose the crease of a little over 5,000 tons, more than the figures for the last two fiscal years ending with June whole fell upon the United States, from which the

30, it is found that the exports of iron and steel and imports in the eight months of 1901 were only manufactures thereof from the United Kingdom for 14,124, against 20,790 tons in the eight months of 1901 were only $133,486,000, as against $160,460,000 for 1900. Mr. Austin also gives figures with reference to 1900, that the exports from the United States for this France, from which it appears that for the fiscal year period were $117,495,137 against $121,992,590, those ending June 30 1901 France actually imported more from France $35,164,400 against $37,600,000, while copper than in the preceding twelve months, the fig- the shipments from Belgium for the eight months to ures being 577,134 metric quintals, against 561,331 August 31 1901 were but $19,224,000 against $23,- quintals. Germany, of course, shows a large de- 200,000 for the corresponding period of 1900. Ger- crease, its imports of crude copper for the same years many alone forms an exception to the rule, her exports having been 713,514 metric quintals, against 786,114 of this class of articles in the fiscal year 1901 quintals. In the imports of the Netherlands there having been $120,304,000 against $107,110,000 was also a small decrease, the amount for 1901 in the previous fiscal year. This exceptional con- (crude copper) being 48,214, against 52,629 tons in dition in the exports of Germany is believed to be the preceding fiscal year. chiefly due, as already stated, to the depression which Mr. Austin carries his investigation a step further is known to have existed in that country for some and goes into an examination of the figures of pro- months, and to the efforts of German manufacturers duction. He notes that the statistics with reference to unload by exportation the accumulated stocks for to production in [other parts of the world seem to which their home market no longer offers an attractive strengthen the conclusion that European countries field. are purchasing elsewhere at least a part of the sup- There remains only the decrease in the copper ex- plies of copper which they formerly obtained from the ports to consider. And here Mr. Austin reaches the United States. The output of copper in Australia, most instructive part of his analysis. He speaks which, according to Merton & Co. of London, was guardedly, saying that the reduction Mexico in 1889 3,780 tons and no two conclusions. There has been no appreciable in 1899 19,000 tons, while the latest information decrease in price, but a great decrease in quantity, indicates that the copper mines of Chili are and the latter appears to have followed directly from rapidly augmenting their output. This increase in the former. The price averaged 16 '32 cents per production in other parts of the world, coupled with pound in the twelve months of this year, against 16*73 the enlargement of the American production from cents in the corresponding twelve months of last year. 105,774 long tons in 1889 to 259,517 tons in 1899 and On the other hand the aggregate value of the exports 270,600 tons in 1900, seems to have caused, Mr. Austin of ingots, bars, plates, etc., for 1901 was only $41,260,- naively remarks, a greater reduction in price in other

376, whereas in the corresponding period of 1900 the countries than in the United States. This is proven, amount was $55,772,166. Adding manufactures of he goes on to show, not only by the fact that the copper the total for this year is $43,267,021 against European countries have made a less reduction in $57,852,960 last year, a falling off of 25 per cent. Look- their purchases from those countries than in their im- ing now at the quantities shipped, it is found that ports from the United States, but also by the very re- only 252,769,328 pounds of copper went out in 1901 markable fact that foreign copper is now actually in- against 333,340,725 pounds in 1900. vading the markets of the United States, the greatest But Mr. Austin does not confine his study to the copper-producing country of the world. In the fiscal United States movement alone. It has been quite year 1901 the imports of manufactured copper into generally supposed that the contraction in these the United States amounted to about $10,000,000 in copper exports was due to a shrinkage in de- value, and the total, including ore and regulus, was mand following upon the business depression $20,581,716, as against $15,489,603 in 1900, $6,817,- through which the European countries are now 056 in 1899, $3,905,011 in 1898, $1,625,506 in 1897 passing. In the light of the figures now pre- and $801,332 in 1895. Mr. Austin's conclusion, ac- sented by Mr. Austin concerning aggregate imports cordingly, is "that the reduction in copper exports is of copper into Europe, this view is no longer wholly due in some degree to a decreased demand abroad, tenable. He shows that the reduction in the total and largely to increased production and reduced imports of the principal European countries is by no prices in the other producing countries of the world." means in proportion to the reduction in our Of course in all this he makes no reference to the exports to them ; in other words, that they policy maintained by the copper producers in this have increased their purchases from other coun- country of keeping the price of copper pegged at a tries while they have been reducing their purchases high figure; but from his comprehensive analyses it from the United States. The United Kingdom, for must be evident, even to the wayfaring man, that instance, for the eight months in 1901 increased, he this policy is a fatuous and hopeless one. — —

981 THE CHRONICLE. [Vol. LXXIII.

Chester; with the latter the city of Lodz has been RUSSIAN INDUSTRIES IN THE REALM OF compared also in other respects. But to all intents KING COTTON*. and purposes Lodz resembles far more some of the American cities of mushroom growth, with the one St. Petersihkg, September 14, 1901. difference that it has a solid foundation in its textile The recent official report of one of the commercial industry principally cotton, but also a few woolen agents to his Government on the alleged Russian crisis — mills—and furthermore that the boom is still lasting. has created quite a stir amongst manufacturing circles. The railway connecting Lodz with the outer world, This report is the more open to criticism inasmuch at the one end with the interior of the Russian Em- as it treats the subject of unfavorable items with a pire and at the other end with Austria and Germany, length which is almost unfair when compared with belongs principally to the rich banker in Warsaw who the shortness which it accords to the industries and otherwise has become famous as the author of the trade which are in good shape. pamphlet which at the time prompted His Majesty To believe this report the countrymen of its writer the Cz ir to convoke the peace conference at the would have nothing else to do but to sell out their Hague. mills at any price and retire from business; but thus This "toy railway system," so to speak, with its far they all continue to make money, in which pur- locomotive and rolling stock "en miniature," is suit these foreign gentlemen have certainly been more nevertheless the mest remunerative railway in the successful than any other, and even more so than the whole Russian Empire—as far as net income per mile Hussians themselves. is concerned. The crisis through which some of the Russian in- At first sight the city of Lodz presents the aspect of dustries are passing does not, by any mean?, extend to those American manufacturing towns which are like- all of them. wise engaged in the textile— especially in the cotton The textile industry for instance i. e., its most industries, such as can be found in the New England prominent factor the cotton industry—has hardly States, but without the cleanliness and neatness, as been touched by anything like a crisis and cotton well as the pleasant surroundings and healthy con- goods have received a fresh impulse through the ditions, which can be found on the other side of the favorable reports from Nijni-Novgorod. Atlantic. This great mart forms the barometer for the Rus- But in other respects the palaces of the banking in- sian business community from the Baltic Sea to the stitutions, the residences of the manufacturing mil- Pacific Ooean for the 12 months following its opening lionaires, and the public buildings, form a most de- in July of each year. The reports coming from there, lightful contrast with other cities in the interior of now that the fair is nearing its close, are to the effect Russia which occupy the same rank as Lodz in a that business has been livelier than expected, and that purely administrative sense. the turn over as well as the collections have been The city spends a good deal of money for good good. pavements, sidewalks, electric lights and electric This will no doubt have its effect on all lines of tramways, furnishing very prompt connections with business, especially as the prices obtained are quite the surrounding towns. satisfactory; for raw cotton we have had some signs The development of the city has been astonishing. indicating a better feeling by way of reported larger Here in conservative Europe the growth is slower than transactions in Central Asian cotton ^at advancing on your side; especially is this so here in Russia. prices. A hundred years ago Lodz was a miserable hamlet Bat also from that active and energetic centre, the of 200 inhabitants; only 70 years ago the first steps city of Lodz, in Russian Poland, the news is of a were made towards establishing an industry here; brighter character than heretofore. Besides numer- 30 years ago it had about 20,000 inhabitants and it ous orders received by local jobbers, the drummers on began to count as a manufacturing centre, although the road are sending in good-sized orders also. And having only a turn over of not more than 1,000,000 as the latter mostly call for immediate shipments of roubles. fall goods, the buyers' wants can be filled at once, as But with the first steps towards a more pronounced the mills had rather heavy stocks on hand. system of protective duties and the firm intent of the In view of the possible chances this textile centre Russian Government to establish a national industry, might offer to your manufacturers and exporters of the rapid growth of Lodz began and has since con- textile machinery, it might not be out of place to tinued. pay a visit to the city and make the rounds at some of Foreign capital began to flow in, foreign manufact- the larger mills, which I will attempt to do now in urers principally the same German and Austrian writing. American cotton waste could also find a — manufacturers who had formerly held the Russian good sale, according to the writer's opinion. market—be*an to start branch factories, which have A few hours' ride from Warsaw we branch off at already outgrown their home establishments in their the Station Kolinschki, of the Warsaw- Vienna Rail- native countries, so that these manufacturers have way line, and we soon find ourselves in the midst of a now become staunch supporters of the protective sys- curious little kingdom of His Majesty King Cotton. tem jast the same as in America. Thus the success It is almost a State within a State, thriving under of the Russian Manchester was assured. a beneficent rule encouraging to both "Capital and But the foreign manufacturers brought along their Labor." It is called Lodz. An immense cloud of own foremen and working men .with kith and kin, not smoke is hovering over the thousands of factory chim- being prevented from doing so by any meddling labor neys similar to that when one is approaching Man- legislation. *In order that the reader may understand the terms used in this When about 40 years ago Lodz had about 50,000 in- Article It should be stated that— 1 yard English equals 1~ arsohln Russian. habitants and hundreds of manufacturing establish 1 pood Russian equals 40 lbs. Russian. 1 lb. English equals 1-10763 lb. Russian. ments, it can now boast of factories numbering a good NOVEMBElt 9, 1901. THE CHRONICLE.

deal more than 1,000, with a total production of more era arrive from all parts of the Russian Empire in than 100,000,000 roubles. Europe and Asia, and the manufacturers' salesmen Among the more prominent cotton factories figure begin to start out on a regular chase after the buyers. the mills of Carl Sch., with more than 2i million As the quantity of the goods sold is the principal ob- roubles capital, giving employment to about 7,000 ject sought, the standing of the buyer is not always men; the I. K. Posn. Company, with 6,000 men, and properly considered. Louis G., with more than 5,000 men. The younger generation, however, is proceeding a But factories of like importance can be counted by little more carefully, although it must be admitted the tens here in Lodz. As already said, the chief that the easiness with which their predecessors gave industry is cotton-spinning and weaving; second such large and long-termed credits has opened up

place is taken by the manufacturers of woolen goods. markets as far away as in Eistern Siberia to the cot- The former industry consumes immense quantities ton goods coming from Lodz. of cotton, chiefly imported from the United States, For these markets the mills in the Moscow and

but also from our Central Asiatic possessions, i. e., Vladimir governments are much more favorably lo- Turkestan, etc. cated.

Gauged by the quantity of cotton consumed in the But it would seem that in the rush for business the

district of Lodz, it comes just behind those of Wladi- City Fathers forget somewhat the interest of their mir and Moscow. denizens. The city thns far has not been able to While Lodz has to hold its own against the sharp provide her inhabitants with decent drink water. competition in cotton-goods coming from the districts Only two of the more public-spirited manufacturers of Wladimir, Moscow and St. Petersburg, it is nearly have taken the matter in hand and have gone in for without any competition worth speaking of as far as artesian wells; but the expenses are too great, as the manufacture of woolen goods is concerned; for healthy and wholesome drink water can only be the latter the city of Lodz has secured a good reputa- found at a considerable depth. tion in respect to low price, good appearance and The clouds of smoke hovering over the city and the comparative durability, although its wares cannot be clouds of coal dust pervading the streets, in which placed in the same line with the goods turned out by meat and other eatables are sold on stands, crowded the mills which make a specialty of high-grade quali- on the sidewalks, are certainly not improving the air ties. in the working men's tenement houses, in which very The great business activity of this thriving indus- often the most elementary conditions of hygiene and trial centre can best be illustrated by some figures sanitation are lacking, and that explains the high rate taken at random from the reports of the banking in- of mortality among the population. Hence it seems stitutions, which go to show that one of the mutual that the same coal and smoke and dust which have credit corporations discounted bills during the past called into existence this busy centre, and which give year to the amount of 12,000,000 roubles. sustenance to the laborer, also shorten the days of the The local branch office of the Imperial Bank dis- latter by poisoning the air and endangering his res- counted bills to the extent of not less than 91,000,000 piratory organs. of roubles. But although there is wide room for improvement But in spite of these signs of well- deserved pros- in these particulars, one must admit that in regard to perity,^ whole cotton textile district of the kingdom municipal requirements as to street lighting, electric of Poland has been passing through a sort of crisis, car lines, street paving, the city of Lodz represents although not through a fault of its own but by reason the type of a most modern city, and is far ahead of all of a cotton famine. the other Russian cities, not even excepting the capi- The pood (37 lbs. English) of foreign cotton, almost tal of the Empire. exclusively of American origin, advanced from 3 to 4 It is to be expected that sooner or later the man- roubles in price during the past season, and the im ufacturers will take the necessary steps for the better ports were behind those for the preceding year. protection of their laboring men, which would be to Nevertheless the American cotton still represents the their own advantage. greater part cf the raw material consumed by the The capital which these foreign manufacturers have mills of Russian Poland. invested in their textile establishments has borne good It is natural enough that in a city of such rapid fruit; at times even excellent fruit. There is still a growth as Lodz, where capital and labor are com- good return to be expected on their investments when peting for first place, speedy provision should be one takes into account the timidity of Rassian cap- made to care for this large mass of laboring popula ital, which is very much averse to new enterprises tion, which forms two-thirds of the total of the in- and new ventures. If anything is done in that direc- habitants. tion it is almost always due to energetic measures In these respects the future will do more than the taken by the Goverment, the Minister of Finance, and past and the present, in the way of providing proper hardly ever to individual effort. schools for the laborer's children. Thus far every- It is therefore easily explained that the naphtha thing has been done by private individuals, who industry is slowly drifting into English hands, iron recognized the necessity to look after the wants of and steel manufacturing to Belgians and French, tex- Buch a large population, which for the greater part tiles to English, Germans and Austrians. has immigrated from elsewhere to build up this city Some of the latter—especially one manufacturer of with their unceasing work of ten hours a day, which cotton goods whose wealth is estimated at about 60,- constitutes a day's work in these parts of Russia. 000,000 rubles—have even gone a step further than This is an easy task, one might say, when compar- their American comrades, inasmuoh as they own cot- ing it with the working day of fifteen hours in other ton plantations in Turkestan and thus raise part of parts of Russia. The more lively time sets in with the raw material which they need in their mills in the month of February of each year. Then the buy- European Russia .

986 THE CHRONICLE. [Vol. LXXIII.

A few of the Russian mill owners in the Wladimir quite prominently among the other cotton- spinning and Moscow governments have already followed their nations, as the following table will show. example. NCMIJKE OF COTTON BriMM.ES liT lOOO- The population of these Central Asian possessions Incrc'ite during Absolute last 10 years occu- and protectorates is in a position similar to that 1890. 1899. increase. in per cent. pied by the people of the Southern States. Their England 43,750 45,400 1,650 38 Continental Europe 24,375 32,500 8,125 333 of the cotton welfare depends upon the final outturn India 3,274 4,728 1,454 44-4 crop, and If they can obtain full prices for their cot- United States 14,405 18,278 3.873 26 9 ton, their purchasing power for one of the principal Total 85,804 100,906 15,102 176 Russia 3,457 6,091 2,634 762 articles of trade and consumption— printed cotton goods and calicoes— is correspondingly enhanced. The prospects of that crop out there are good and BANKERS' CONVENTION REPORT. the cultivation of the cotton plant in Central Asia is The following comes to ua from Mr. Charles F. Phillips, making further progress. the President of the Corporation Trust Company of Dela- of its im- The present crop is said to be far ahead ware, who read a paper entitled "The Bii8ine38 in Foreign mediate predecessor, which distanced all previous Countries "Analogous to That of Trust Companies in the crops. United States," before the Trust Company section of the an- held Thus the acreage under cotton in Central Asia is a nual convention of the American Bankers' Association at Milwaukee last month. very large one again, as the shrewd mussulman is not New York, Nov. 7, 1901. slow to find out that he has a far better return from To the Editor: Whilst highly appreciating the very oourteous attention whloh you his land by planting it with cotton—especially with have given to the address whloh I delivered at the reoent meeting of seed of American origin—instead of losing his time the American Bankers' Association In Milwaukee, and whilst very grateful for your enlightened and generous criticisms of the Ideas with the cultivation of grain. underlying It, I am compelled to ask you to make some corrections The Government does everything to further this in the statements attributed to uie by your stenographer when re- attempt; outside of the cotton-ginning mill on the porting the discussion by which the address was followed. la the latter part of my reply to the very intelligent comments of Imperial farm at Bairam-Ali there are seven cotton- Mr. Edward J. Parker, of Quinoy, Illinois, I am made to say certain ginning plants in the Province of Transcaspia; be- things concerning the Bank of France whloh are manifestly incorrect; and I am therefore led to believe that your stenographer, being sides that the Minister of Agriculture has ordered the momentarily Interrupted, reported my Remarks from memory, and so establishment of experimental cotton plantations in attributed to me several statements which would be at once recognized as totally unfounded by any one familiar with European finanoe. the districts of Aschabad and Merw. What I did say was this: Generally speaking, the crop is said to be a good "Even after the Franco-Prussian war. during the distressing period of which the Bank of France had advanced to the Government one one, especially in the district of Ferghana, which pro- billion five hundred millions of francs on somewhat indefinite conditions as to the date of repayment, and had liberally met all the de- about one-half all duces of the cotton raised in Cen- mands of industry, oommeroe and finanoe throughout the whole in its six hundred thousand tral Asia. In some other districts, mainly in that of country, there remained hands oniy dollars' worth of doubtful bills, none of which, however, were doubt- Chodschentsk, the locusts have almost totally de- ful enough to induce the censors to charge them to profit and loss, and all of which, with the exception of a few aggregating in value stroyed the cotton plants, so that the Government had about five thousand dollars, were ultimately paid Such a loss on a turn over of ten thousand millions of dollars is absolutely inappreci- to engage a large number of field laborers to eradicate able; and it is fully explained by the system of lending unlimited assistance in small sums even more than In large ones, and doing bo this plague, who killed a3 much as 18 tons (English at a small rate of interest, and on the best security possible, namely on that of the life work and the possessions of every aotlve toUer in weight) of locusts a day. the land." With the great predilection the citizen of the Trusting to your courtesy for the publication of this communication, whloh will serve to rectify some errors that are really of oonsequenoe, United States has for cold facts and figures, I think I am. Gentlemen, very truly yours, CHARLES F. PHILLIPS. that some extracts from a recent report published by We gladly give room to the above communication, ft is the Ministry of Finance on the " Production of Cot- proper, however, to say that our report of the remarks made ton Goods of Russia" will be of interest to your by Mr. Phillips in the general discussion following the read- readers. ing of his paper was furnished by the official stenographer of the Trust Company Section. The statistical data compiled by the Industrial Department of the Russian Ministry of Finance com- prise the operations for the year 1899 (Russian style), ITEMS ABOUT BANKS. BANKERS AND TRUST CO'8. and state that the quantity of cotton worked up in —The auction sales of bank stocks this week aggregate 749 the Russian mills reached during that year 16,000,- shares. No sales have been made at the Stock Exchange. of stock of the Chemical National Bank were 000 pood raw cotton, or 1^8,000,000 rubles in value, Three shares sold at 4,152 as against 4,060 last July, and 450 shares (par $25 whereof 5,000,000 pood of Russian origin and 11,000,- each) of Chatham National Bank stock changed hands at 000 pood of foreign origin (mainly American), the 330)£, comparing with 315 in August. Transactions in trust number of spindles in operation amounting to more company stocks were limited to the sale at auction of 35 than 6,000,000 stands aside of 146.000 machine looms. shares of Morton Trust Co. stock at 1201. About 200 shares The above-mentioned amount of cotton was con- of stock of the National Bank of Commerce were sold in the "curb" market at prices ranging from 385 to 390. sumed in 109 spinning and 118 weaving mills. Shares. Banks—New York. Price. Last previous sale. The amount of yarn thus produced reached about 20 Central National Bank 191*9 Apr. 1901- 181 15,000,000 pood, or almost 248,000,000 of roubles in 450 Chatham National Bank 330*4 Aug. 1901— 315 3 Chemical National Bank. 4,152 July 1901-4,060 value; that of the cloth woven reached about 12,000,- 100 City Bank, National 601-6111-2 Oct 1901— 650 24 Corn Exchange Bank 423*a July 1901— 406 000 pood, or about 242,000,000 roubles. 5 First National Bank 762 Oct 1901— 749*2 75 Fourth National Bank 235*6 July 1901— 240 The number of mill hands occupied in the spinning 7 Imp'rs' & Traders* Nat. Bank.. 568^ July 1901- 577 65 8tate of N. Y., Bank of the... 261*2-265 Oct 1901— 257 1* mills is given with 170,000 persons and that of the Trust Companies—New Tork. weaving mills with 150,000 persons. 35 Morton Trust Co 1,201 Oct. 1901—1,200 The capital invested in these textile establishments, —George F. Baker, President of the First National Bank, Wednesday elected director of the Manhattan Trust cotton spinning and weaving, not including the work- was on a Co. Among his associates on the board are James J. Hill, ing capital, is estimated at about 270,000,000 rubles. A. J. Cassatt, Henry W. Cannon, Oliver H. Payne, August Comparing the production of cotton goods with other Belmont, R. T. Wilson, John Kean, John I. Waterbury and countries, it must be admitted that Russia is figuring Rudulph Ellis, the latter of Philadelphia. Nov B01BBR !>, 1901.] THE CHItONH LK 987

—On Wednesday James Stillman, President of the National higher price. The basis of consolidation, it is stated, was City Bank, and Joseph Fox, President, and David II. Row- 250 for Fidelity stock and 150 for Louitville. Columbia Bank, elected land, Vice-President of the were — At a recent meeting of the directors of the Common- Butchers' Drovers' directors of the National & Bank, which wealth Trust Company of St. Louis, the issuance of 10,000 is located at 6S5 Broadway. Mr. Rowland was elected Presi- additional shares of stock was authorized. The new stock, Brinkerhoif, was dent in place of G. G. who made Vice- certificates for which will not be issued until November 15 institution was recently President. Control of this acquired 1902, will be sold at $350 per share of a par value of $100. in the interest of the National City Bank through purchase of Payments are to be made in four instalment on the follow- of the latter. stock by individual stockholders The Butchers' ing dates: December 16 1901, March 14 1902, Jane 16 1902 & Drovers' has a capital of $300,000 and surplus and undi- and October 15 1902. The new stock will be iesued to share- vided profits of $73,100. The average deposits reported last holders of record November 25. The issuance of these week were $1,307,200. shares at the price named will bring the capital (the author- On Friday it was announced that James Stillman, Presi- ized amount of which is $3,000,000) up from $1,000,000 to dent of the National City Bank, had been elected a director of §2,000,000 and the surplus from $1,000,000 to $3,500,000. This the National Citizens' Bank, located at 401 Broadway. As was institution has been in the field only about six months, but interests the case with the Butchers' & Drovers' Bank, identi- has already found it necessary to secure better facilities for fied with the National City have acquired a large amount of carrying on its business. Arrangements have been made for the stock, sufficient at least to dictate the policy of the bank. purchasing the building shortly to be vacated by the Na- An increase of the capital, which now is $600,000, is con- tional Bank of Commerce. templated, and probably further changes will soon be made —The Fidelity Trust Company of Buffalo, which, as noted in the directorate. The President of the Citizens' is E. Fleit- in these columns several weeks ago, successfully met a run mann, the Vice-Presidents are David C. Tiebout and E. S. on it caused by an unfounded rumor, contemplates erecting Sohenck and the Cashier is Henry Dimse. The average de- a new building. The structure, plans for which have already posits;reported last week were $3,828,400. The City Bank now been filed, will be located on the northwest corner of Main has controlling interests in the manner above stated through and Swan streets, and will be ten stories high. individual stock holdings in the Second National, the Lincoln — On Wednesday and Thursday next the Maryland Bank- National, the Columbia, the Metropolis, the Fidelity, the ers' Association will hold its annual convention at the Hotel Butchers' & Drovers' and the Citizens' banks. The import- Rennert, Baltimore. Mr. William B. Ridgely, Comptroller ance of its acquisition of control of the Butchers' & Drovers' of the Currency, is announced as the guest of honor. Mr. and of the Citizens' lies in the fact that the banks are located Ridgely will address the bankers informally. A reception in an active business section of the city which is rapidly growing. and dinner is to be tendered the Comptroller, and a visit to the Maryland Steel Company's works at Sparrow's Point is —At a meeting of the Clearing House Association on Mon- also planned. day the Seventh National Bank, as reorganized, was restored death is announced of a well-known financier of to membership. —The Philadelphia—Mr. Joseph S. Chahoon, Vice-President of the —The increase in the capital stock of the New York West End Trust Company. National Exchange Bank from $300,000 to $300,000 and of the —The Mercantile Trust Company of Pittsburg, which last surplus to $250,000 has become effective, and the fact was spring took over the Mercantile Bank, has removed from its recorded in the bank statement of last week. temporary offices to its remodeled home, 413 and 415 Wood —The following circular to its customers and correspond- Street. The present quarters constitute two buildings (the ents has been issued by the Chase National Bank: Mercantile Trust Building and the Mercantile Bank Build- The Chase National Bank will not be consolidated with or absorbed ing) thrown into one. by any other bank or Institution. —One of the banks of the Northwest which is enjoying This notice is given beoause of unfounded and unauthorized rumors In the newspapers and elsewhere in relation to bank consolidations in very noteworthy growth is the First National Bank of Dc- this city. luth, Minn. The following is the institution's record for the

last three : —We are officially informed that on or soon after the 1st years Surplus <6 Gross Aggregate —Price.—^ of January the Fidelity next Trust Company of Kansas City, 1st Nat. Bank Capital. Profit*. Deposits. Resources. Bid. Ask. Mo., will increase its capital from $500,000 to $1,000,OCO. The Dulutii. $

Sept 30, 1901... . 500,000 452,395 5,230,526 6,507,767 175 201 new stock will be sold at exactly the value of the present July 15, 1901... . 500,000 407,858 4,337,414 5,561,318 175 .... stock when the increase takes place, which it is believed will Apr. 24, 1901... . 500,000 370,184 4,207,327 5,403,347 150 .... less be not than $140 per share. At this price the company Feb. 5, 1901... . 500,000 374,912 3,435,194 4,640,301 137 160 will be enabled to increase its surplus to $400,000. The Deo. 13, 1900... . 500,000 366,207 3,647,851 4,855,554 135 .... Sept. 5, 1900... 500,000 352,823 3,934,953 5,097.276 140 160 officers are : Mr. Henry C. Flower, President ; Charles June 29, 1900... . 500,000 336.187 3,901,440 5,050,127 135 150 Campbell, Vice-President; W. F. Comstock, Secretary; A. Apr. 26, 1900... . 500,000 334,169 3,721,182 4,855,851 139 155 D. Rider, Assistant Treasurer; S. W. Rider, Assistant Sec- Feb. 13. 1900... . 500,000 316,131 3,592,018 4,451,450 137^150 retary, and Frank Hagerman, Counsel. The Treasurer, Mr. Deo. 2, 1899... . 500.000 314,253 3,954,251 4,813,505 129 140 121 140 W. H. Pratt, resigned this week. Sept. 7, 1899... . 500,000 285,919 4,066,188 4.897,107

June 30, 1899... . 500.000 267,884 3.040,626 3,853,511 113 125 —A unanimous vote in favor of increasing the stock of the Apr. 5, 1899... 500,000 283,674 2,347,270 3.175,945 105 108 Farmers' Deposit National Bank of Pittsburg from $500,000 Feb. 4, 1899... 500,000 277,285 2,165,799 2,998,196 103 108

Deo. 1, 1898... . 3,266,992 100 101 to $800,000 was the result of the stockholders' meeting on the 500,000 278.188 2,433,193 Sept 20, 1898... 500.000 283,550 2,152,007 2,9s0,557 100 .... 6th inst. As before stated in these columns, the new stock Over five million dollars ($5,230,526), it will be noticed, is is issued at $800 per share, adding $2,100,000 to surplus. the amount at which the deposits now stand, while on July The North American — Savings Company is the name of a 15 1901 this item was but $4,337,414. When it is observed new institution chartered under the trust company laws of that only $2,152,007 was the total of deposits on September Pennsylvania which will shortly begin business in Pittsburg. 20 1898, the advancement becomes all the more striking. The capital has been fixed at $350,000 and surplus at $70,000. The other items likewise depict the bank's progress. Thus The offices will be located at Fourth Avenue and Market aggregate resources September 30 1901 were $6,507,767, as Street, and the officials elected at a meeting this week are: against $5,561,318 July 15 1901 and but $2,980,557 September President, W. M. Laird; Vice-Presidents, Francis J. Tor- 20 1898. The item of surplus and profits in the three years rance, Xavier Wittmer and J. W. Walker; and Secretary shown in the above table has risen to $452,395 from $283,550. and Treasurer, W. P. Fraser. The officials consist of Mr. A. L. Ordean, President ; J. H. Cashier, and C. D. —According to Louisville papers, the proposed consolida- Dight, Cashier ; W. S. Bishop, Assistant tion of the Fidelity Trust & Safety Vault Co. and the Louis- Shepard, Second Assistant Cashier. ville Trust Co., mentioned in these columns two weeks ago, —Mr. Lyman F. Gray, very much to the regret of the is to be abandoned. The stockholders of the Louisville officials, has resigned as Assistant Cashier of the People's Trust Co. seem unwilling to agree, believing that their own Bank, Buffalo, N. Y., the resignation to take effect to-day. institution, owning a fine building and having a total of Mr. Gray, who was elected a member of the.New York Stock about $4,000,000 deposits and trust funds, is worth a much Exchange on October 10, has become one of the firm of .

988 THR (JriKONHJLB. [Vol. LXXIII.

Messrs. F. C. Henderson & Co., of 71 Broadway, this city. — Resolutions were adopted at a meeting this week by the Mr. Edward J. Newell will continue, as heretofore, Acting directors of the Fonrth Street National Bank of Philadel- Assistant Cashier of the People's Bank of Buffalo. phia providing for a pension fund for aged employes and a death benefit for the families of employes. The pension —A sale of stock last week of the Corn Exchange National fund will be entirely gratuitous—a certain sum being laid Bank of Chicago at 400 establishes a new record. aside by the bank each year for the purpose. —The brokerage firm of Chapin & Gay lord of Chicago —A modern banking honse, work on which has already and New York was dissolved on the 4th inst., Robert Gay- commenced, is to be erected on Chestnut Street (No. 323), lord retiring after disposing of his membership on the New Philadelphia, for the exclnpive use of Messrs. Newburger York Stook Exchange to his partner, Simeon B. Chapin. Bros. & Henderson, now at 134 South Fourth Street, Phila- The style of the new firm will be S. B. Chapin & Co. delphia. The property adjoins the building of the Fidelity Charles F. has resigned as National Bank —Mr. McGrew Trust Company, who are the owners of the ground now be- the position of Examiner of Nebraska in order to accept ing improved. Second Vice-President of the Omaha National Bank, Omaha, Neb. —The members of the Pittsburg Stock Exchange will, at a special meeting to-day, vote on two proposed amendments, —On Monday of this week bank employes of Boston held a which, it is stated, are already practically assured, sixty meeting at the Clearing House to discuss the formation of a members having signed the call for the meeting and no more local chapter of the American Institute of Bank Clerks. No than 67 votes being required. An increase in the initiation formal action has yet been tak en in the matter, but it is ex fee from $25 to $250 is one of the amendments under consid- pected that at a meeting to be held in a week plans for the eration, and the other is for an additional annual assessment organization of a chapter will be approved by the clerks. (which it is expected will not exceed $25) over the present A circular letter has been sent out by the West Virginia — dues of $50. Bankers' Association to bankers throughout the State asking that influence be brought to bear on West Virginia senators and representatives to secure the repeal of the war tax on DEBT STATEMENT OCTOBER SI 1901. banking capital. Inasmuch as other taxes have since been The following statements of the public debt and Treasury removed, the continuance of this particular tax is looked cash holdings of the United States are made up from official upon as unjust, and efforts for its repeal are now being made, figures issued Oct. 31, 1901. For statement oj Sept. 30, 1901, other States not only by the banks of West Virginia but by see Chronicle Oct. 19, 1901, page 819; that of Oct. 31, 1900, as well. see Nov. 10, 1900, page 943. increase in the stock of the Jefferson Bank of St. —An INTEREST-BEARING DEBT OCTOBER 81. 1901. Louis, Mo., has been decided on by the directors, which Interest Amount Amount Outstanding. Title of Loan- payable. issued. Registered. Coupon. Total. action will be submitted to the stockholders within sixty $ $ 2s, Consols of 19S0 Q— J. 4*5,940,750 435,' 824,620 60.268.480 98 193,100 4s. Funded loan, 1907..Q.— J 740,922,400 1«4,811400 62,456,060 847,273,450 000 is the amonnt to which it is proposed to raise the same. 4s Refund'gcertiflc's.Q.— J. 40,012,750 82,650

4s , Loan of 1925 Q.—F. 162,315,400 115,010.030 38,517.700 148,657,700 It is that the stock will be sold at stated new probably $150 6«, Loan of 1904 Q.—F. 100,000,000 ll,^0 8i.O 9,714,650 21 ,(.25,450 share. officials are: President, per The Mr. H. Wood; Vice- Agg'teln Bearing Debt.1,687 ,988,940 804.130.620 166,859,830 961,023,100 President, R. B. Bullock, and Cashier, W. E, Berger. NOTE.—The denominations of bonds are as follows: 4s of 1907, registered, $50. $100, $500, $l,OO0, $5,000, $10,000. $20,000, $50 000, coupon, $50 $100. While not entirely completed, the work on the new 1600, $1,000; 4». refunding certificates, $10; 6s of 1904, registered, $50, $100, — $1,000, $10.0on coupon. $60, $100, $1.0<>0; 4s of 1926 registered. $5o. $100. $600. offices of the City Trust Company of Cleveland has so far $1,000, $5,000, $10,000, coupon. $60, $100, $500, $1,000; 3s of 1908-1918 registered, $20. $100, $500, $1,000, $5,000, $10,000. coupon, $20, $100, $5< 0, $1,000; 2s of 1900- advanced that the company was enabled to take possession 1930, registered, $50, $100, $500, $1,000, $5,000, $10,000, $50 000, coupon, $60, $100, $500, $1,000. this week. The offices are conceded to be among the most at DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY. tractive in the city and well adapted to the growing needs of Sept. 30. Oct. 81. iftmded Loan of 1891, continued at 2 percent, called this institution. for redemption May 18, 1900 ; Interest ceased Augustl8,1900 $208,10000 $203,100 00 —Mr. Edward L. Jacobs, who for several years has been Funded Lean of 1891, matured September 2 1891.. 6h,»00 00 66.800 00 Old debt muturedpriorand subsequent to Jan. 1 '61 1,069,160 26 1,066,910 26 associated with the brokerage house of E. L. Brewster & Debt on which Interest has ceased , $1,843.560 26 $1,341,310 26 Co., Chicago, has formed new connections with the firm of Bonds issued to Pacific railroads matured but not yet pre-

sented : Union Pacific, $12,000 ; Kansas Pacific, $1,000; total. $13,000 00 Edwin L. Lobdell & Co., whose acquisition of three new partners we recorded in these columns last week. DEBT BEARING NO INTEREST. Dnlted States notes $846,681,016 00 —The incorporated bond house of MacDonald, McCoy Old demand notes 58.847 50 & National bank notes—Redemption account 81,713,019 50 Co., Chicago, has just taken into its membership Mr. E. L. Fractional currency $15,262,295 68 Less amount estimated as lost or destroyed 8,875,934 00 Wagner, who for many years was connected with the Metro- 6.878,861 68 politan National Bank in positions of responsibility, and lat- Aggregateof debt bearing no interest $886,824,244 68 terly has conducted the municipal bond business of E. L. RECAPITULATION. Oct. 31. 1901. Sept. 30, 1901. Inc. or Dec. Co., is Wagner & which firm now discontinued. Classification of Debt— $ $ $ Interest-bearing debt 961,023,100 00 96rt,9Hf\120 00 Dec. 5,943,020 00 —National Bank Examiner Marcus L. Crawford has been Debt, interest ceased 1,341,310 26 1 343,560 26 Dec. 2,250 00 Debt bearing no Interest... 885,324,244 63 388,206,664 18 Inc.. 2,117,680 50 appointed receiver of the Eufaula National Bank, Eufaula, Ala., of which Mr. George P. De Saussure was made tem- Total gross debt 1.847,688,654 89 1,861,516,244 89 Dec. 8,827.589 60 Cash balance in Treasury*. 825,655,697 01 819,919,879 98 Ino. 6,735,817 08 porary receiver at the time of suspension several weeks ago. Total net debt 1,022.032.957 88 1,031,596,864 41 Dec. 9,558,409 63 —Mr. Percy Parker has been elected President of the Mid- * reserve fund. dlesex Safe Deposit & Trust Company of Lowell, Mass. The Including $160,000,000 former President, Mr. Larkin T. Trull, was on the same day The foregoing figures show a gross debt on Oct. 81, 1901, (Wednesday) elected Vice-President. Mr. Charles L. Knapp (interest-bearing and non-interest-bearing) of |1,347,688,654 89 is Secretary of this institution. and a net debt (gross debt less net cash in the Treasury) of $1,022,032,957 88. —Mr. Joe R. Lane has been appointed Vice-President of the First National Bank of Davenport, Iowa, succeeding Mr. Pacific Railroad Debt. —At present the only bonds not Chr. Mueller. paid or in some manner settled by the companies are the —The First National Bank of Easthampton has a new Central Branch Union Pacific. We consequently omit the President—Mr. Horace L. Clark. The vacancy was due to others from our table. Any reader desiring the details with the death of Mr. John Mayher. reference to all the issues will find the facts in the Debt Statements for March 31 1900 and —Mr. Edgar H. To war is President and Mr. Frank J. Jen- previous dates. nison Cashier of the new Marquette National Bank of Mar- UNLIQUIDATED BONDS ISSUED TO PACIFIC RAILROADS-THEIB STATUS NOV. 1. 1901. quette, Mich. As stated in our issue of October 12, the bank has been capitalized at $100,000. Name of Road. Principal. Interest. Total due V. S. Central Branch Union Pacific. .$1,600,000 00 $2,187,175 87 $3,737,175 87 —The new Lumbermen's National Bank of Tacoma, re- The Government realized the sum of $2,122,841 24 from cently approved by the Comptroller, will be under the man- the sale on June 20, 1901, of its claim against the Sioux City agement of Mr. R. D. Musser as President and W. E. Bliven & Pacific Railroad Company, under authority of the Act of as Cashier. Congress approved June 6, 1909. . . —

November 9, 1901.] THE CHRONICLK 989

Treasury Cash and Demand Liabilities.—The cash hold- am clea KIN') HOUSE TRANSACTIONS.

<— Sh.ires,/... .— ings of the Government as the items stood Oct. 31 we take — Bald , SheeU Clem act, / "•'<( Value leared. from the Treasury statement of that date. The net cash I 1000 balance and the reserve fund of $150,000,000 have both been J anu 38,488,800 8.078,900,000 4,455.300

deducted above in reaching the net debt. oary. $9351,800 4,11 1 899,10 6.008 M ml) 10,840,100 3.453.4 8.619 CASH IN TUK TREASURY. April 17,006,000 100,000 0,818,800 7.908 Reserve fund- Ma] 88,994,400 2.558.9" 8,980 .300 8.414 Gold coin mid bullion tl5o.0ou.ii00 00 Trust funds— J nun 1,988,000,000 7.784 1312,81") S r »i li . .Id coin 9 00 July 81.846.800 1.624,',' 9,77. ).!» 7,530 Sliver dollars 44w,04*,<) 00 i 1,063,800 1,181,6 9,080 1,419 7.263 Silver dollars of 18,10 187.8.U 00 Silver bullion of 18<<0 41.80i.649 00 mber 18,80 LI 000 9,189,100 6.443 803.807,089 00 •r.... 87.860,900 4,813,900 1.100 8.737 General fund- Gold coin and bullion $78 810,013 81 Gold certificates 31,130,43000 10iiius...a08,3UU,lU0 IJ3.3J4.8ll.000 89,481,100 8,79.', 00.000 31.368,800 78.117 Sliver cert locates 7,k;7,<1"3 oo silver dollars 6.401.4 8 00 Sliver bullion 517 267 08 1001- United States notes 7,8U!>.0H-l 00 J. imiary.. 110,812.501, 8,005.500,000 14,797,000 1,107,800,000 11,858,800 9,450 Treasury notes of 1890 10,386 00 February. 73.70r>, 100 0,548,000,000 io.6j:>,' on 6.970,700 7.710 National banknotes H.887.121 19 'Kin Fractional silver colli 8,lt)4,S29 47 U..H-I. 98,889,100 11. 061. -00.000 18.18J.700 984.500, 7.01* 8.885 Fractional currency Ill 29 April 181,798,000 14.038,800,000 81,408,800 700,000 22,014,100 0.617 Minor coin 476,760 62 iv 0.508 Bonds and interest paid, await- II 189,769.700 1,099,000,000 18,880,700 ing reimbursement 20,45* 79 Juno 67,r)05,500 5,789,800,000 10,653.800 941,768.000 7,212,000 8.524 »148,310.584 19 July 67.172.S0O 1,041,70 1,000 8,349,400 685.500,1)00 7,819,000 8,708 In national bank depositaries— To credit of Treasurer of the August 89,899,W0 8,04 1,9 10,000 i,800 182,700,000 3,87!'.000 8.602 United States 104,908,809 16 September 18,944.800 3,877.0 K), 1 ...oo 570,00 5, J82.800 7,7rfl To credit of United States dis- 48,92:2,'20J 4, 1H4, 8.83 550,200,000 5,010,600 bursing Officers 6.933,689 14 October... 700,000 ,400 0,330 110,840.488 30 269,151,082 49 10 mos...8ll.090.100 ( 1 7,7(16,000.000 119579400 9,7t0,O33,6OO 106133400 88,814 1.213,048,11149 -, , , Shares , both sides— Halancts, one ride. , Sheet* Gold certificates $31 2.81 5,089 00 Cleared, Total Value Shares. Value Shan s. Cash. Cleared Silver certificates 44H.64s.0UO 00 1!»01- $ $ $ Treasury notes of 1890 41,434,000 00 "00 2*4,400,000 400/.00 81,200,000 221,700 434 1803,81.7,089 00 Oct. 88 3.11?, National bank 5 per cent fund.... 18.888,473 14 " 80... 2,554,100 835.600,000 857.9U0 2M00.000 *70.400 42 Outstanding checksand drafts.... 6,111,40m 11 " 1.902,600 169,900,000 880,100 18,300,000 140,300 36t Disbursing officers' balances 65,480.074 21 8?.... Post Office Department account.. 8.21.0.418 22 " 81.... 1,76 ,f 00 144,100,000 2?3,000 2i,(. 00,000 143.700 308 Miscellaneous items 4,724,881 80 Nov. L ... 1,158,800 89,700,000 184,400 14,800,'.00 74,800 877 88,496,325 48 $887,892,414 48 llfl/iOO.OOO Reserve fund 160.000.000 00 Totulweek . 1O.485.EO0 029,60,000 1,485,^00 830,900 l.Oo* Available cash balance 176,656,697 01 VVk.lastyr . 7,289,400 490,-!00.000 004.600 61/00,000 63;,400 1.887 825,665.697 01

Nov. 4 . 8,428,800 210,300,000 378,400 38,800,000 832,100 410 Total $1,213,018,11149 HOLIDAY _ " 6 1,529,600 13«,t00,000 rf-,700 IH.700,000 124,i:00 806 Cash balance in the Treasury Sept. 30, 1901, exclusive of re 8,511,400 330,700,000 605.000 55,<00,000 405.900 436 serve and trust funds 160 910,879 98 Cash balance in the Treasury Oct 81, 1901, exclusive of re- " 8 4,214,400 380,100,000 822,300 61,410,000 279,700 437 serve and trust funds $175,666,607 01 Total weei 11,684,200 1,054,400.000 1.738,400 119,100.000 1,041.900 1,688 Increase during the month $5,735,817 03 Wk.lastyr 10,907,600 771,500,000 1,160, 00 112..00.000 964,400 1,605 The volume of transactions in share properties on the New month since January 1 in 1901 Clearings by Telegraph.—Sales of Stocks, Bonds, &c— York Stock Exchange each The subjoined table, covering clearings for the current week, and 1900 is indicated in the following: usually appears on the first page of the Chronicle, but on BALKS OF STOCKS AT NBW TOBK STOCK EXCHANGE. account of the length of the other tables is crowded out once a month. The figures are received by telegraph from 1001. 1900. the leading cities. It will be observed that as compared with Month Number Values. Number Values. the corresponding week of 1900 there is an increase in the of Shares. Par. Actual. of Shares. Par. Actual. aggregate of 21-3 per cent. So far as the individual cities are 8 $ $ $ concerned, New York exhibits a gain of 23 "2 per cent, Boston Ian 30.285,065 2,011.531,850 2.081,745.275 9,843,716 946.681.487 687,248,018 feb. 21,008.822 2,126,937,460 1.578,047.608 10,195,392 976,723,w85 718,677,687 15-6 per cent, Philadelphia 21*7 per cent, Baltimore 24-4 per VI arch. 27,080,968 3,624,011,160 2,097,084,688 14.446,7e2 1,409,933 550 1,101,018,407 cent, Chicago 86*5 per cent, New Orleans 26"4 per cent and Istqr 70,248,845 7,661,480,450 6,758,677, 1 61 34,486,890 3,333,238.962 2,606,038.092 St. Louis 52-2 per cent. April... 41,719,086 4,080,407,800 3.515.023.2H7 14,772,078 1,434.106,700 977.081,461 Clsortnos— Keturn* by Telegravh. May... 36,292,203 3.440,170,575

Seven cities, 6 days 4-84*8 $1,431,786,740 $1,144,299,907 3d qr. 40.786,884 4,013,104,050 8,114,770,061 15.421, 1 13 1,490.030.050 030,893,421 Other oltles. 6 days 860.094.810 201 087.611 +-21-5 mos. 216842630 81,134928826 16,681230341 81.50M36 7.864,608,262 5.489.487,666 Total all olties, 6 days $l,071.8£0.869 $1,348,887,608 4-24-0 All oltles, 1 day 406.86J.387 364 100,085 4-11-2 Oct 14,038.082 1,871,786,450 1,049.728.42" 11.895.083 1.(68.757.300 706,306,917 Total all oltles for week $1,077,843,646 $1,711,487,603 4-21-8 The following compilation covers the clearings by months Our usual monthly detailed statement of transactions on since January 1, MONTHLY CLEARINGS. the various New York Exchanges is appended. The results for the ten months of 1901 are given below and for purposes Clearings, Total All. Clearings Outside New York. of comparison the figures for the corresponding period of 1901. 1900. P.Ct 1901, 1900. P.Ct. 1900 are also presented. _ « $ $ $ January. .. 10,718,440.805 7,643,048,856 4-40-2 3.316.3259S2 2.978.48'<.861 4-11-8 Ten Month*, 1901. Ten Months, 1000 February 8.368,808,924 6.432.884.388 4-208 2.736.214.3MV 2.486.203,280 +10-0 Dsscription. Par Value Actual Aver'ge Par Value Actual \Aver'qt March... 10,003,589,736 7,826.748,607 4-31-2 3.116,74t'.0O4 2.790,289.267 4-11-7 or Quantity ; Value. Price or Quantity Value. Price 1st qaar.. 29,078,839,40o 21,701,610,101 +34H 9.167,280.336 8,266.051.417 4-11-0

! 8 -? rt 4 Btook $v290i| 30958.778 783 W105793.673 -4 { Val": Ul" $SM; toBB«* 69 4.prtl 12.010,428.193 7,472,074.151 4-80 7 3.373,630,617 2.756.727.208 + 28-4 BR. bonds 1881,028,4. O 1718,500.266 86-4 1386.1 1«, 300 $312,020,»>Ul. ^1'0 May 12,825.972,748 7.310.832,516 4-764 3,500.540.^63 2.^:13.586,466 4-23 4 Gov't bonds $l.60O,H7o: $1,81>.,192 113-8 »5.7O8,110 f6,658,«7S' llrt8 2,703.108,260 +16-1 State bonds $3.33-.800| $8143,811 38-2 $1 825,700 $1.8»4.1H 786 June 10,106.778,513 6,667,816.610 -r51r 3,214,906.258 stocks $1*9.475 $350,64' 208-6 Bank . flJ.1,776 1213,777206-0 2d quar... 34,943,179.464 21,461.423,278 -82-0 10.110 076,228 8,388,720,932 4-20-7 Total $2334 1801820 18352568,658 78-6 193201 1444- $6516' 3<\017 700 16.638.772.34H 4-160 Grain, bush. 708,332,823 62H.877.610 74 4-5c. 931,214,730 701,186,5j 75^0 6 months. 64,021,018,9 IV 43.163,012,46: -484 19.286.385,583 Total value.! 19182136,088 $7217217,407 July 9,866,718,851 6.256,030,184 4-49 7 3.283,7-8 380 2.704.3*5.'-'0J 4-21-4 August 7.086,144.108 5,707 ,320,IO« 4-39-K 3 066,595,238 9,688,040,688 +21-1 The transactions of the Stock Exchange Clearing-Housa September. 7,966,488,815 6,626,611.148 r415 2,010,305,266 2.460.U8-.614 4-18-1 3d quar... 25,318,302,8r;7 4-43-9 9,269.688.924 7.607,304.302 r80-3 from Oct. 28, down to and including Friday, Nov. 8, also 17,580.020,386 the aggregates for January to October inclusive in 1901 months 89,339,321,286 60,742,962.853 447-1 .8,546.061,457 24,836,166.651 +17-3 4-25-1 and 1900 are given in tabular form below. October . 9,681.281.791 7.621,319.823 8,580,714,783 8,045.08:.643 4-17-6 J

990 THE CHRONICLE. [YOL. LXXIII.

The course of bank clearings at leading cities of the country Upon the Continent business is even more stagnant than for the month of October and since January 1 in each of here. The losses in France consequent upon the unwise and the last four years is shown in the subjoined .statement. undue investment of money in industrial enter prises, esj eri- BANK OLBABINOB AT LKADINQ OH IKK. ally in Russia, have been very heavy, and have caused great — October. — , Jan. 1 to Oct. 31. (000,000* 1901. 1900. 1899. 1898. 1901. l'.OO 1899. 1898. depression in industry generally. The alaim created by the * omitted.) 9 $ $ $ <+• Mew York... 5,951 4,576 5,257 3,534 66,744 40,983 50.461 33,342 apprehended strike has added to the depression; and now 4,331 Boston 637 539 641 468 6,041 4,973 5,862 the fear exists that there may be large withdrawals of de- Otaloago 709 608 597 489 6,339 5,623 5,413 4,454 Philadelphia 490 394 407 291 4,550 3,835 3,930 2,960 posits from the leading banks. Bt. Louis 198 158 149 132 1,83^ 1,372 1,345 1,175 In Germany the slow liquidation goes on, and fresh scan- Pittsburg.. . 169 137 171 81 1,713 1.327 1,273 805 Baltimore... 100 91 86 89 997 889 1,022 758 dals are being brought to light from time to time; while Ban Fran'oo. 105 105 96 76 949 844 788 667 Cincinnati. .. 80 68 68 57 809 655 612 637 the very large gold shipments from London have given rise, City 89 80 71 60 755 622 528 479 Kansas as already said, the fear that a larger New Orleans 57 69 43 31 463 420 353 337 to failure than has Louisville... 39 35 37 30 384 351 338 285 hitherto taken place is apprehended. Moreover, the agita- Minneapolis. 76 65 65 54 470 467 422 354 Cleveland... 60 50 51 34 582 468 427 318 tion in Austria-Hungary against the proposed tariff bill of 458 353 343 285 Detroit 60 36 36 30 Germany is causing great disquiet throughout the latter Provldenoe.. 36 33 35 27 289 267 274 216 Milwaukee.. 30 27 27 23 266 246 234 214 country. It seems probablenow that if the bill is passed, not Omaha 34 30 29 33 276 263 243 257 Buflalo 28 24 25 20 251 214 206 175 only Russia and France but Austria-Hungary and Italy like- 215 171 Columbus... 31 25 24 18 271 221 wise will retaliate. On the other hand, if the bill is not Bt. Paul 26 25 26 26 205 201 192 171 Hartford.... 12 11 11 10 113 107 114 104 passed the Agrarian Party will possibly be estranged from Denver 21 20 19 15 190 180 142 123 the Government, and its. Parliamentary position will become Total 9,038 7,196 7,971 5,628 91,950 64,88174,787 52,518 worse than ever. On every side, therafore, there seems Other cities.. 493 425 367 307 3,920 3,483 3,068 2,569 cause for some uneasiness in Germany; and that is adding 77.P55 Totalall... 9,531 7,621 8.338 5,935 98,870 68,364 55,087 to the depression here and in France. In Russia, likewise, Outside N.Y. 3,580 3,045 3,081 2.40132,126 27,38127,394 21,745 the depression has been aggravated of late to euch an extent that the Finance |Minister has found it necessary to give Sfr0t*jeta*8 s Womtazxtitil%n&li&h%zvat pecuniary assistance to several great firms to enable them to [From oar own correspondent. keep their work-people employed. London, Saturday, October 26, 1901. Daring the week ended Wednesday night gold amounting The stagnation in business this week has been aggravated to £1,228,000 was withdrawn from the Bank of England, and by the withdrawals on the part of the great French banks of every day since withdrawals have continued. Yet the effect some of the money they have been employing in London, by upon the market has been surprisingly small. The Bank of large gold shipments to Germany, and by a fresh "break" in England has not taken strong measures to raise rates, and the West Australian market. For some time past a general money continues fairly abundant. There has been some strike in the coal trade in France has been threatened for rise, but nevertheless rates are lower than either in Paris or the second of November. A strike of the kind would affect Berlin. Probably the directors of the Bank of England will a large number of workpeople, and would throw out of gear now begin to borrow in the open market for the purpose of manufacturers all over the country; while at this season of raising rates; and very soon it is expected that the Bank the year it would of course inflict suffering upon the poor; minimum will be officially raised. A rise will become im- but the mere prospect of a strike, however general, would perative if the great French banks continue withdrawing the they will not have had the consequences that in this case have fol- balances have been employing here. Whether they do so depends of course upon the action of the miners. The lowed were it not that it has been discovered and made Government evidently thinks that there is considerable known by the French Government that the miners, in one danger. It has made known through the press that military district at all events, have been buying old Gras rifles which arrangements have been completed for bringing to bear upon miners, if necessary, military force; have been discarded by the army; and the state of the the an overwhelming and the Prime Minister on the opening day of the session French law is euch that the Government is unable to pre- announced that measures also had been taken for insuring vent these purchases. The fear of armed resistance by the that, if a general strike did take place, coal would be safely miners created a scare, and although it is certain that they landed at all the ports. The fact, however, that the Government is acting so firmly could not hold out against the army, yet it is at least possi may induce the miners to put off the strike. If so, confi- ble that the disturbances might spread to other districts dence will soon return, and the amount of money employed where Socialism is strong. here by the French banks will again be increased. On the In consequence of this the great French banks, which have other hand, if apprehension continues, money will be withdrawn and then the Bank of England will have to act. Re- been employing vast amounts of money in London for the specting the gold shipments to Germany, although they are past couple of years, thought it necessary to prepare in time so very large, little anxiety is felt, partly because it is known lest there should be a run on the deposits, and in conse- that the withdrawals do not pay, and therefore it is antici- quence they have withdrawn a portion of their balances from pated that they will not continue for a long time; but that London. is quite uncertain at present. It largely depends upon whether anything serious is impending. In any event, it The effect of this has been heightened by the large gold looks most probable just now that an advance in rates here shipments to Germany. The general interpretation put upon must very soon take place. these shipments is that the banks everywhere throughout Meantime the India Council continues to sell its drafts fairly well. It offered for tender on Wednesday 50 lacs and the the Empire fear that a great failure is impending and are applications exceeded 13 crores. The whole amount offered taking precautions accordingly. is This contradicted by those for tender was disposed of at prices ranging from Is. 3 31-32d. in the best position to know, both in London and Berlin; but to Is. 4 1 32d. per rupee. the fear undoubtedly exists here in London and widely in The following return shows the position of the Bank of Germany. It is known that it does not pay as a mere ex- England, the Bank rate of discount, the price of consols, &c. 1901. 1900. 1899. 1898. change transaction to take the gold, even though it is certain Oct. 23. Oct. 24. Oct. 26 Oct. 26. 4 M £ 1 that the Imperial Bank of Germany is giving the usual jlrculatlon 29,298.220 29,479.916 28,039,5"0 27,170,275 ?nbllo deposits 11.012.261 048.243 8,072,237 t*,«PP,030 facilities for shipping it. 8 Other deposits 40. li 9,671 40,979.370 42472.772 36 348,367 Jovernment 18.01fl.766 Z0.191.0S1 10,501,640 Lastly, there is an unexpected and securities 16,186.990 considerable "break" Other securities 26,166.879 25,(508,150 30.728,140 29,607,671 in the West Australian mining market. The manager of deserve of notes and coin 24,828,191 21.C97.679 22,5*7. U7 21,288,156 Join St bullion.both departm'ts 66,361.411 82,802,494 83.76S.717 81.608,166 one of the principal mines has for a year past been giving Prop, reserve to liabilities.. P.O., 4b% 42% 44 7-16 48K Sank rate percent. 8 4 6 4 most favorable reports, both of development and of the out- Consols, ZH percent 92 9-16 98% 103 18-16 109 Mlver 26!*a. 30 3-16d. 2&Xd. SSd. turn. Suddenly, however, the mining engineer has written Ilearinar-House returns 163,710.000 14.134.000 132 943,000 136,780,000 to the directors in London that the development effected The rates for money have been as follows:

does not justify the large output. Presumably the mining IB Interest alloxotd a Oven Market Rates. for deposits by engineer was acquainted with the reports which the manager London. Irade Bids. Joint flta'tffi. has been sending every fortnight for 12 months past, it Bank Bills. and i Stock At 7-1* is asked in consequence how it is that he has kept silent so 3 Months. 4 Months. 6 Months. 3Mos. 4 Mos. Banks Call Days IX long or that he has now spoken out. The result is a fear Sept. 28 3 2 6-16 2 11-16 8 15-16 ~W sx@3x 1M IX IX IK that a fresh scandal will be brought to light, and there has Oct. 5 3 2K@2 6-16 2K®2% 2X 2« 3@3M " 12 3 2X 2X 2 13-ie@2% 2X@3 3®SH IX IX IX been a general selling of West Australian mining shares of " 19 8 2 6-lC@2% 2X®V% 2 16-16@3 2fc@3 3@3M IX IX 1M all kinds. " 26 8 2 13-16 8 3M ?@3fc 3M@3k IX 1H IX : : .,. ' .

November 0, 1901.] THE CHRONICLE 991

The Hank rate of discount and open market rates at the The re-exports of foreign and colonial produce since Jan. 1 ohief Continental cities have been as follows: show the following contrast: 1901. 19O0. Difference. iu. kxi'okth. Oofc ue>. Oct IK. Oct 11. Oei . 4. £ £ £ Per OU Rate* ot January 5,051,307 5,482,465 —431,158 —7*84 Kiiliruary 5,966.963 5,575,325 +7-13 lnterett at Bank Open Bank Open Hunk Open Bank Open +800,968 Mnnh 5,200,525 5,666,338 -4t;f,,BKi — 8 ^O Market Rate. M,irk,l BaU. Slurkrt r Rate. Market Rate. April 0,286.007 5,8(>0,. >47 +425,460 +725 6,056,229 5, 394, 102 Paris 3 8 9% 3 254 3 1% May +661,767 +111 Juno 5,522,270 5,441,884 +80,3-ii —104 4 3 4 3 4 2% 4 Berlin •m July 5,526,083 4,782,314 +743,7' + 15-5 4 8 4 8 4 -S. 4 2« A.Uguat 6,166,955 5,409.379 +757,570 +138 4 3 1 8 4 254 t 254 Beptember.... 4,708,235 4,430,284 +337,951 +7'6 3 a* 3 854 3 2« 3 +5'2 3 s« 3 254 3 254 3 254 NlnemoB... 50,543,899 48,042,998 +2,500,901 4 8« 4 3% 4 3M 4 8M Note.—The aggregate figures are official. They Indicate that Might adjustments have been made iu the monthly returns as issued. St. Petersburg.. BM uom. nom. 5% nom. 6* nom. Madrid 4 4 4 4 4 4 4 4

Copenhagen. ..! S 4W 5 S 6 5 5 6 Kntfllah Financial markets—Per Cable.

The daily closing quotations for securities, etc. , at LondoD Messrs. Pixley & Abell write as follows under date of are reported by oable as follows for the week ending Nov. 8. October 24 Gold—The withdrawals from the Bank have l>een very large this week. In addition to taking the arrivals from Australia and India, London. Sat. Hon. rue*. Wed. Thurs Fri. amounting to £31,000. Germany has bought from the Bank £779.000. Paris has also taken £358,000 in sovereigns and Egypt £250,000, Oliver, per ounce d 267, 6 263s 263s 263a ~26tT 7 making a loss to the Bank of £1.402,000. Arrivals: Australia, £239,- Consols., new, 2% p.ots. 9H* 18 91 8 91% 91% 91-> 19 9Hi ia 15 113, 000; Straits. £7,000; Bombay, £62,o00; Chile. £2,000: River Plate, For acoount 91 io 91 8 91% 917 16 91% 9 8 £15.000. Total, £325.000. Shipments: Bombay, £7,500; Colombo, *r'oh rentes (In Paris) fr 100-80 10070 10060 00-77% 00 67% 100-75 £7.500. Total, 69 69 £15,000. Spanish 4s 69% 69% 69 I 69 Silver— I he market has been a dull one; dearer money has oaused Anaoonda Mining 7^16 7% 7 7% 7 6*8 the banks to buy very moderately, and has equally oaused holders to Atoh. Top. & Santa Fe.. 80J% 81 805e 82 84 843s let out silver a little more freely. We have fallen during the week Preferred 98 98 99 98% 100 101% from 26Bsd. to d cash, 26%d. forward, closing dull Baltimore 111 11138 110% 111% 111% " 26"i 6 and India, & Ohio 111% quotes Rs 6 16 , no business. Arrivals: New York, £',80,000; Aus- Preferred 96ia 96% 96% 90% 96% tralia, £2,000; Chile, £4,000. Total, £186,000. Shipmeuts: Bombay, (Janadlan Pacific 114% 114% 114 11478 1153e 115% £100,000; Calcutta, £10,000; Hong Kong, £22,677. Total, £ 132,677. Chesapeake & Ohio.... 48^8 48% 47% 48 48% 49% Mexican Dollars— There has been a fair business in dollars at Chioa. Great Western. 25% 25% 25% 25*8 2»i 2588 266 16 d., but the price is now easier, and we quote to-day 26%d. Ship- Ohio. MB. & St. Paul... 174*4 174% 173 1743a 178% 177 ments: Singapore, $11,860; Hong Kong, £15,760; Manila, £10,070; Den. A Rio Gr.,oom.... 45% 46 45*8 46% 47% 47 Shanghai, £9,600. Total, £47,290. Do do Preferred. 95 94% 94% 95 95 95 Erie, common 42% 42% 42% 43 43 43 The quotations for bullion are reported as follows: 1st preferred 71?8 72 71=8 72% 72% 725s 2d preferred 58 57% 57 57*8 58 58% i Illinois Central 1421* 143% 144 143% 145 144 gold. Oct. Oct. Silver. Oct. Oct. Louisville & Nashville.. 1060s 106&8 106% 10b% 107% 108?a London Standard. 24. 17. London Standard. 24 17. Mexioan Central 22% 22% 22% 22 22 M exl oan N atlonal 13% 13% 13% 13% 13% t. d. s. d. d d. Mo. Kan. & Tex., com.. 261* 26»d 26% 26% 27% 27% bar gold, ttne....oz. 77 im 7711% Bar silver, fine. . . oz. 267 16 26» 18 Preferred 51% 52% 55 52% 53% 54% O. 8. gold ooln...oz. 76 6% 76 6% Do 2 mo. delivery 26ia 26&8 ST. Y. Cent'lA Hudson.. 163% 161% 162% 162% 163 165% Oerm'n gold coin. oz. 76 6% 76 6% Bar silver, oontain'g ». Y. Ontario & West'n 35*11 35% 35 35% 3538 355a 26i6 Krenoh gold ooln.oz. 76 6% 76 6% do 5 grs. gold.oz. ie 27l 16 Norfolk & Western 5838 58 57% 583s 58% 58% Japanese yen....oz. 76 6*4 76 6V do 4 grs. gold.oz. 26% 26'8 Do do pref. 92 92 91% 92 92% 92% do 3 grs. gold.oz. 268 16 26H 19 Northern Pacific, pref.. 107% 108% 108 109 108% 107 Cake sliver oz. 28% 28«8 Pennsylvania 76% 76 76% 76% 76% 76% Mexican dollars. oz. 26% 265 la 'Phila. A Read 22% 223a 22% 22 22% 22% * Phlla. & Read. ,1 st pref 398s 39% 395a 39% 39% 39% The following shows the imports of cereal produoe •Phila. & Read.. 2d pref 27% 276a 278s 28 28 28 into the 7 Southern Paoiflo 61?8 61 8 61% 63 62?8 63% United Kingdom during the seven weeks of the season South'n Railway, com.. 335a 34 34% 34% 35 8s 35% compared with previous seasons Preferred...... 90% 9088 91% 92% 93% 93% Jnion Paoiflo 104% 105% 107% 109% 111 109% IMPOSTS. Preferred 91% 91% 91% 92% 92% 92% D. S. Steel Corp., com.. 43% 433s 42 7 43 4389 44% 1901-02. 1900-01. 1899-00. 1898-99 8 Do do pref.. 93% 94% 937 94 94% 94% unp'ts of wheat, owt. 9,004,200 8 11,395,300 8,934.100 7,964,000 <47abash 21 21 20% 21% 21% 21 Barley 4,653,500 3,070,300 2,406,500 4,544,800 Oats Do preferred 37 3758 37% 38 38% 39 2,884,800 4,269,000 3,051,500 1,999,170 Do Deb. "B" 60% 60% 60% 61 61 Peas 238,500 249,410 405,000 283,780 Beans 441,800 320,040 239,600 385,150 Indian corn 6,446,200 6,910,500 8,023.500 6,547,600 * rrioe per snare Flour 2,810,900 3,056,000 3,199,600 8,571,730

Supplies available for consumption (exclusive of stocks on September 1): 1901-02. 1900-01. 1899-00. 1898-99. Wheatlmported.cwt. 9.004,200 11,395,300 8,931,100 7.964.0C0 National Banks.—The following information regarding Imports of flour 2,810,900 3,056,000 3,199,600 2,571,730 aational banks is from the Treasury Department. Sales of home-grown. 4,740,645 3,798,387 4,823,893 4,361,812 NATIONAL BANKS ORGANIZED. Total 16,555,745 18,249,687 16,957,593 14,897,542 Certificates Issued October 28 to Novembei' 2. Aver.prloe wheat,week.258. lOd. 28s. 9d. 27s. 3d. 26s. 6d. Average prioe. season. 25s. lid. 28s. 7October 8, 1901. —. . .. . ,

992 THE CHRONICLK. [Vol. LXXIII.

Imports and Exports for the Week.—The following axe Coinage by United States Mints.—The following state- tho imports at New York for the week ending for dry goodB ment, kindly furnished us by the Director of the Mint, shows Oct. 31 and for the week ending for general merchandise the coinage at the mints of the United States duiing Nov. 1; also totals since beginning first week January. October and the ten months of 1901. For statement of September, PORBIOK IMPORTS. 1901, see CHRONICLE of October 19, 1901, page fc23 ; that of Oct

Total *11.667,280 $10,857,466 $11,286,014 £6,459,733 9 Double eagles.... 1.132,495 22.649,900 Since Jan. 1 4,13i.0i2 Dry Goods #90,197,913 S98.758.044 S87.610.620 $78,657,767 Eagles 358,000 3,580,000 41,310,420 Half Gen'l mer'dlse 378,427,988 352,115,088 848,174,125 282,034,383 eagles 434,000 2,170,000 3,838,966 19,194,830 Quarter eagles... 284 710 Total 44 weeks S468.625.901 $450,878,132 $435,784,745 8360,692,150 Total gold 792,000 5,750,000 9,102,787 83,155,860

The following is a statement of the exports (exolusive of Dollars 1,086,000 1,086,000 20,132,535 20,132,535 •peoie) from the port of New York to foreign ports for the Half dollars 2,195,044 1,097,522 6.133.579 3,066,789 week ending Nov. 4, and from January 1 to date. Quarter dollars. 1,504,000 376,000 10,205,1991 2,551,300 Dimes 2.319,665 231,960 22,013,202' 2,204,320 EXPORTS FROM MBW TORE FOR THE WEEK. Total sliver 7,104,709 2,791,488 58,514,515 27,954,944

1901. 1900. 1899. 1898. Five-cent niokel. 2,382,000 119,100 18,512,213 925,611 One-oent bronze. 6,8*8,000 68,280 51,394,148 513,941 For the week. 89,216,053 $9,888,208 $7,372,070 810,168,330 Prev. reported 422,928,291 447,727,008 387,471,150 386,006,839 Total minor 9,210,000 187,380 69,906,356 1,439,552 Total 44 weeks $432,139,344 $457,615,216 8394,843,220$396,175,169 Total coinage 17,106,709 8,728,868 137,523.658 112550356 Note.—As the figures of exports as reported by the New York Custom House from week to week frequently show divergence from ttreadstuffs Figures Brought from Page 1022.—The the monthly totals, also oomplled by the Custom House, we shall from tatements below are prepared by us from fignres collected time to time adjust the totals by adding to or deducting from the by the New York Produce Exchange. The receipts at amount "previously reported." Western lake and river ports for the week ending Nov. 2, The following table shows the exports and imports of and sinoe Aug. 1, for each of the last three years have been ; •peoie at the port of New York for the week ending Nov. 2 and since Jan. 1, 1901, and for the corresponding periods in ««et»ti at— Hour. Whtat. Corn. OaU. Burls*- »» 1900 and 1899. BMl.l961bl Bufh.eoibt Buift.6fllb» BuiYS2!bi Buih.isibt Bu.be ibi. EXPORTS AMD IMPORTS OF SPECIE AT MBW YORK. 183.1B7 1,663.602 879.185 1,855,756 512,200 179,134

HI 1 wank ee . 88.776 640.000 71,250 211.900 496,100 87.600 Exports. Imports. Gold 162,800 1.233,671 5.095 9.852 184,178 28 216 Week. Since Jan. 1. Week. SinceJan. 1. alnnaapolli 2,864.610 36,670 227.410 147,920 82,270 460 191,996 71,196 107.785 10,900 $ $1,764,851 $ $244,196 9,460 29.829 91,693 76,643 FrunAf* 2,851,585 21,061,373 1,178,858 JleTaland ... 16.541 132210 148,421 201.280 7,584,567 West Indies 4,000 707,587 15.441 1,493,587 St. Lonli 60.120 323,146 262,400 303,600 114,000 7,090 2,000 50,868 416,810 12.000 66.800 826,000 177,800 90,600 4,900 30,515 19,303 731,758 taniai City. 811,200 327,200 108,000 Ail other countries. 1,114,500 1,600 78,124 Pot.wk.1901 688.298 7,737.064 2 213,112 8.779.426 1,629.998 800,040 Total 1901 $2,857,585 832,314,261 $36,344 $4,143,333 lame wk. 00. 470,266 6.600.453 8,988.171 2.967.418 2,062,775 140.900 Total 1900 13,445 47,445,064 1,958,400 7,625,066 Sam* wk.'PJt. 497,431 6.693,916 3,886.746 8,189,604 1,857,288 228,062 Total 1899 25,000 25.986.116 451,484 13,849,086 Hnct Aus. 1. Export*. Imports. 1901 6,582,097 103.7;2.960 40 471,283 49,496,716 18,113.844 4.690,168 Silver. 1900 5,920,851 94.fi6S.909 63.566.541 68.602,716 18,247,666 1,9*9,046 69.7*9,183 18.86>*.14l' 2,607.078 Week. Since Jan.l. Week. SinceJan.l 1899 0.186.227 85.781.876 1 78.374,113

$1,127,356 $39,261,092 $ $25,283 The receipts of flour and grain at the seaboard ports for Franoe 697,495 4,720 follow: Germany... 2,220 223 the week ended Nov. 2, 1901, West Indies 300 247,767 8,175 228,216 Ho ur Whiat, Corn, Oatl. Barii* But, 21,250 16,015 2,336.491 Rtttiytt at— bblt buth. buth. buth. buth. bulk. 934300 915,000 219.400 2.926 South America 0,182 8,601,919 9,657.326 4,84 ',766 Bye " 8,469,776 2,421,685 5,099.892 18,948,098 Amount outstanding Nov. 1,1901*.... $359,911,683 Total grain " 810,078,820 316.28i.807 367,887.601 881.565,948 Legal Tender Notes- The exports from the several seaboard ports for the week Amount on depositto redeem national bank ending Nov. 2, 1901, are shown in the annexed statement: notes Oct. 1, 1901 $29,985,481 Amount deposited during October $3,006,555 Wheat. Corn, flow. Oatl. iiv«,Xiy*. Pemt,Ptmt, Barls% Amt.relssuedandbanknotesretlredinOot. 1,278.967 Maporte from— buih. buth. bblt. buth.bush. buth. buth.burt bush. 1,727,588 aw York 686 694 315.683 143 293 280,180 13 033 8,804 599 60,143 19.105 Amount on depositto redeem national iOiton 263 Portland, Ma. 241.770 3,143 27.952 '.'.'..'.'.'.I 10,818 bank notes Nov. 1, 1901 $31,713,069 Philadelphia. 84I-.000 ' 94,280 44.v55 laltlmore 609 888 88,621 8,571 • • •Circulation of National Gold Banks, not included In above, $78,970, <)ew Orleani.. lb h 000 '82.479 35,501 21,954 •• •••«*•• *ewD'rt JNewi lOO.ooo 10,000 85,931 According to the above the amount of legal tenders on Montreal 171,835 110,671 14.405 48.943 deposit inW«»tnn 856.000 4,807 Nov. 1 with the Treasurer of the United States to Pensacola. 16 000 redeem national bank notes was $31,713,069. The portion of Quebec 48,978 this deposit made (1) by banks becoming insolvent, (2) by Total week 3.622,244 663,162 489,963 270,098 8,571 72,889 S.80i banks going into voluntary liquidation, and (3) by banks re- Same time '00 1.386,620 4,161,917 861,149 1,178,620 17,953 245,381 42,807 reducing or retiring their circulation, was as follows on the The destination of these exports for the week and since first of each of the last five months. Sept. 1, 1900, is as below:

-/lour.- -Whtat. 1 —Oern. Deposits by— July 1. Aug. 1. Sept. 1. Oct. 1. Nov. 1. Extort* for Wttk Bintt Stjet. Wnk Sinti Sett. JPiik Bintt Sift,

.ilk and tintt Nov. 2. \ . 1901. Nov. 2. 1. 190 U Nov. 2 1. 1901. $ Stvt. I to— bat. bblt bu»>>. buth. i".ih. bwh. Insolv'ntbks. 778,844 755,462 922,682 837,172 761,245 United Kingdom 296,(82 8,571.003 2,111,951 28,321,526 228.0*7 8.C61.177 Llquid'g bks. 7,630,764 7,589,483 7,475,50fc 8,389,44.: :ontlnent, 89698 1.169,0i9 1,407,898 42,446.6o8 880 016 7,6i 3,673 8,895,826 453,668 Red'o'gund.* J. & C. America. 14.960 86?..650 12,600 1.396 21600 50 44,171 4*6.109 act of 1874. 21,441,895 20,768,585 20,614,616 20,758,86t «ait Indlei 416,»88 22,055,998 Jl.N.Am Colo'i 3,919 82.809 7.8(0 1(6.482 her countries 13.649 151. .21 2,900 142,198 4,i91 161,423 Total. 29,851,503 29.113.530 29,012,801 29,985.481 31,713,069 Totai 439.983 6,726,096 3,522,244 70.928,004 663,162 16,711.466 *Aot of June 20, 1874, and July 12. 1882. 4,151,917 24,897,739 Total 1900 . 861.149 2.999,073 l,d86,620 17,818,364 - . «. .

November 9, 1901.] THE CHRONICLE. 993

The visible supply of grain, comprising the stocks li Keports of Non Member Banks.—The following Is the granary at the principal ints of accumulation at lake anc itatement of condition of the non-member banks for the seaboard ports, Nov. 2, 1 1, was as follows: *eek ending Nov. 2, based on averages of the dally result. Corn, 0»(«. K»e, B*tU\ Ve omit two ciphers C00 ) in ml nines Initorml- bush. bush, bush, bulk. bus *.Sd5.ooo 1,136,000 781"00 84,000 162.0OC Mew York liepuiit.vBilh Do afloat 8,000 9,000 136,000 48,000 BANKS. Capi- Sur- Loans A Net oiton l,07.s.oou 89rt,000 245. u Oc ... (00i omitted.) tal plus Invest- Specie. <*)i/i •'ilHT'j UltHT r> rils Philadelphia 618000 817,000 71,000 4,0^0 rrtentt. Notes rlytnt. /((.».», Baltimore 9*6.000 96.000 173,000 910.000 S1W VOUK OITT New Orleaaa Stu-.ooo 124,000 Borough of 2tio,ooo SaiTeitoD. Manhattan. I t • 1 I ltw.000 * 49.000 '81,000 68,'KJ Montreal 26,000 Colonial 100,0 140.9 1724.7 40,8 142,2 233.8 1890.0 Toronto- 43.000 1,000 42 lolambla 300,0 217,0 2688.C 163,0 100.0 2o9.0 2688 791,000 19.000 482,(KX 8.0 Buffalo 2.806,000 1,097,000 eleventh Ward... 100,0 126,6 1114.0 50,7 43.4 169,7 35,0 1276 2 Do afloat. " fourteenth Htreet. 100,0 82,3 13^4.0 69,8 63.2 207.8 1603.7 Toledo 621,000 682,000 1,042,000 803,000 9,000 tansevoort 200,0 20.0 1389,7 206 44.7 112.5 3,7 1406.8 Do afloat i amlltou 200,0 100,0 1621.4 116.6 99,4 126.8 1702,1 Detroit 623,00« 281000 '23,000 180.JOO '21,00" 60 tfoant Morris.... 250,0 89,5 22 74.7 119 6 124.8 19O.0 62.3 2806 4 Do afloat 115 6.179,000 7,069.000 1.807.000 784.000 21,00 rtutual 200,(1 163,7 1430.1 42,8 4 168.3 83,6 1467,9 Okloaso 200.O 14954 1789 Do afloat nineteenth Ward 147,8 27,6 169.1 316,7 100,9 8 Milwaukee 1S6.000 '74.6lO 472,000 '4i'.b6o 140,00 laia 100,0 222,6 2370.0 225,0 240,0 64 '2882,0 Do afloat tilverslde 100,0 129,6 1028.8 16,2 72,0 65.1 1061,8 rtWlll'm* PC Arthur 1,611,000 itate 100,0 283,8 3723,0 8 46,0 162 163.0 280,0 4878,0 Dnluth 6,494,000 488.000 808,000 870,000 887.0" rwelfth Ward... 200,0 42,7 1343,9 38,0 139,0 89.0 1693,0 Do afloat Twenty-third W'd. 100,0 76,4 1062,0 42.6 101,2 44 6 73,2 1198 5 Minneapolis 9.4H9.000 16.000 702 000 60,000 168. Hi. Jnlon square 200,0 389,1 2322.9 45.2 220 2 95.0 2669 8 St Louli . 8,*W3,o0li 648,000 878.000 94.000 10.00' forkvUle 100,0 223,3 145J.4 68,6 125.8 76,3 20.0 1401,3 Do afloat Washington 100,0 30,8 693.6 11.6 44,8 80,0 6,4 687,2 103, KanaatClty l.SW.OOO inp 149,000 fidelity 200,0 98,1 446,4 10,6 23,1 21,7 361,4 Peoria 807,001, 62,000 144,000 14.000 1,000 Varlok 100,0 69,1 874,3 10,8 79,9 115 3 0,4 938,6 Indlanapolli 422,000 20.000 44.000 l.uOO /eflerson 200,0 64,1 667.6 9,7 63,3 143,0 68,9 826,9 On MlMlHtppl Hirer Century 100,0 62.2 192,3 6,6 19.2 26,3 . . .. 87.1 OnLakee 1.194,000 491.000 605.000 185.000 V»t. Commercial. 300,0 11,6 300,6 26,4 12.4 43,1 70,4 116.1 . 448,000 77,000 664.000 235.0ut On oanal and rlTer. . Wash'gtonHelghts 100,0 100,0 000,0 0,4 7,7 302,0 14,6 TOUI NOV. 2, 1901.. 41.192.000 12.9U0.O00 8,098.000 2,044,000 8,388,010 toro'h of Brooklyn. Totai Oct. 86. 1901.. 40.704.000 18,630.000 8,247,000 1,944,000 2.H20.0O dedford 160,0 126.1 1225,0 13,8 78,6 92,4 933 1282.5 Total Nov. 8 1900. 60,034 000 7.H18.0O0 12,«96.000 1,100,000 8,611, OOC Sroadway 100,0 180,3 1679.3 14,6 146,6 181,9 .... 1785,5 Total Nov. 4. 1899.. 61.001 000 12 834.000 6.V68.000 1,127,000 8.358.001 Brooklyn 300,0 167,4 1167.7 54,1 30 1 118.5 6.2 1130.9 000 28.7h7.000 6,976.000 970.000 8.192.00 11,9 856,7 Total Nov. 6.1898.. 17.000 eighth Ward , 100,0 34,3 368.3 24,6 49,7 10,0 firth 7183 82,1 27.1 74,6 16.7 872,4 Avenne , 100,0 73,9 Sings County 160,0 61,0 703,4 28,9 22.3 75,2 16,9 699,7 vlanufact'rs' Nat'l 262,0 437.3 2738,0 336,8 123.7 378,7 3204,1 Mew York City Clearing House Banks.—Statement 01 Mechanics 500,0 360,6 8766.6 164,4 144.8 291,1 10.0 4391,8 Heoh's' Traders 100,0 186,8 997.0 20,0 64 4 77,6 43,8 975.6 of & condition for the week ending Nov. 2, based on average Merchants' 100.0 23,8 740.4 7,1 67,2 63.6 774,4 Vaasau 326,6 3808,0 163,0 276 431.0 38,0 3985,0 results. omit two ciphers (00) in all cases. National.. 300,0 daily We N'atlonal City 300,0 573,5 2797,0 138,0 238,0 313.0 75,0 3033,0 loo.o 144,7 921,0 10 4 44,6 40,5 89,4 824,7 MorthSlde , lit 929.0 955,1 BANKS Capital. Surpiua Loans. Specie Legate. Deposit! Peop'es 100,0 123,9 87 2 46,6 40.8 65,6 strvt seventeenth Ward 100,0 78,2 631,4 80 42,7 75.1 23.6 447,1

ipragne National . 200,0 243,3 1186.1 96.0 18,0 100.0 63,0 1036,0 P. I $ * 9 $ $ 2 2,166,2 20,054,0 3,909,0 1,592,0 20,818,0 iVenty-slxth W'd. 100,0 54,2 494,8 12.6 18 129,8 36 560,9 Bank of N. Y.... 2,000,0 286 701,5 2,060,0 2,093,0 23,861,0 6,234.0 2.039.0 29,018,0 286 Onion 100,0 60,6 631,7 28.0 66,1 68 5 69,2 Manhattan Co... 819,4 Merchants' 2,000,0 1,138,7 12,476.1 1,923.9 1,759,9 14,617,7 251 •vallabont 100,0 66,9 834,3 32,7 26,6 40.6 40,6 Keohanlos' 2,000,0 2,317,2 14,088,0 2,529,0 1,008,0 14,570,0 24 2 Borough of Richmond. America...... 1,600,0 3,097,0 20,066.6 3,881,3 9,478,0 22,701,4 25-8 Sank of 620.9 14,7 687,6 Phenlx 1,000,0 257,8 4,795,0 720,0 189.0 4,885,0 207 Staten Isl 25,0 66,6 89,4 13,6 «tNat.,Htaten Isl 100,0 86,3 739,5 25,3 93.9 698,1 01ty .. 10,000,0 6,630,3 1 16.^84,0 29,290.1 6.472,1 131,960,2 271 Chemical 300,0 7,000,4 24,183,8 6,437.9 2,738.3 36,264,6 323 Other Cities. 24 8t Nat., Jer. City, 400,0 907,7 5888.9 224,6 1000,1 612,0 6329,5 Merchants' Ex.. 600,0 258,8 6,224,1 786,2 656,9 6,470,3 5 1866,4 9.818,8 971,0 8,110,0 268 and. Co. Nat., J.O. 250,0 600,1 2192.4 61,4 240,9 68,4 Granatin 1,000,0 1,964,7 1,087,4 1064,4 1,307,2 29'2 3d Nat., Jer. City., 250,0 808,1 1248.1 68,8 202,6 Butoh.A Drov's' 300,0 73,1 1,087,8 818,9 63,1 1240,4 2,748.0 248.0 3,090,0 194 id Nat., Jer. City.. 200,0 242,6 1005,0 45.6 422.7 26,7 Mecu. A Traders' 400,0 133,0 864,0 2009,0 areenwtoh 200,0 184,1 906,6 109.4 184,1 838,6 36 1st Nat., Hoboken. 110,0 469,2 2145,1 102,9 142,0 160 4 2d Nat., 126,0 113,8 988.0 27,6 803,5 Leather M'f'rs.. 800,0 616,8 4,917,4 1.999.6 189,9 5,841,9 37*1 Hoboken. 33,7 4.6 State of N. T.... 1,200,0 554,1 4,812,6 382,8 360,8 4,184,1 172 Amerloan Exoh. 6,000,0 3,411,2 30,778,0 6,371,0 1,037,0 25.699,0 28'8 Totals Nov. 3„ 8362,0 9217,6 72007,7 3263,8 4168,2 7848,5 2204,0 76749,8 Commerce 10,000,0 7,094,6 74,039,6 9,965,1 6,964.2 64,954,0 24 5 Totalh Oct. 26.. 1262.0 9117.8 71973,6 3266,4 4260.6 7721,0 2189.1 77600.8 Broadway 1,000,0 1,587,3 6,785,7 1,200.7 354,9 6,203,2 250 Totals Oct. 19.. 8262,0 9117,6 72069,2 3248,9 4295,2 7509.6 216P.3 77501,4 Mercantile 1,000,0 1,361,8 14,392,6 2,641.3 1,551,9 15,628,6 26 8 Paolflo 422,7 612,4 2,725.3 213,7 423,7 8.330,7 191 Chatham 460,0 977,9 5,899,1 694,5 912,0 6,042,9 26'5 Auction Sales.—Among other securities the following, not People's 200,0 350,8 2.191,8 211,6 403,0 2,769,5 222 regularly dealt in at the Board, were recently sold at North America.. 1,000,0 1.025,8 11.723,0 2.177,2 1.192,3 12,407,2 27-1 Hanover 3,000,0 6,666,2 47,6r0,0 9,299,6 5,910,8 68,811,3 28 2 auction, Irving 600,0 476,3 4,234,0 697,6 422,0 4,288.0 23*7 By Messrs. Adrian H. Muller & Son: Cltlsens' 600,0 382,5 3,429,1 682,6 232,1 8,828,4 239 Nassau 600,0 289,8 2,462,8 557,8 378.2 3,226," 29-0 Stocks Stocks. Market 4 Polton 900,0 1,012,2 6,261,2 895,8 809.3 8,641,8 260 66 FitchburgRR pref 143»a 65 Bank of the State of Shoe

New York City, Boston & Philadelphia Banks.— Held v. INVESTMENT SECURITIES- Members N. Y Stock Exchange. Branch Office. 87 State Su Albany we furnish a summary of the weekly returns of the Clearing Banks of York City, House New Boston and Philadelphia, Oeokoe Barclay Moffat. Alexander M. White Jr. The New York figures do not include results for toe non. member banks. Moffat & White,

i Capital A BANKERS, Banks. I Surplus. Loam. Specie. Legal*. Depoeite.t Oire'l'n. Clearing. Members New York Stoct BxehaLne. No. 1 NASSAU STREET, ... NEW YORK. N. Y.* $ $ I $ $ * $ Oct. 12.. 180,566,4 870,900,7 1825019 70.653,5 942,688,1 80,983.8 18216440 INVESTMENT SECURITIES. " 19.. 180,568.4 874,939,2 1819419 69,802,4 945,114,1 81.376.7 133730U2 " 26.. 180,666.4 884,589,7 1829428 70.394.4 954.496.1 31,763,2 12980804 Nov. 2.. 190,888,1 891,922,91784637 71,634,7 958,063,4 31,875,9 13568139 Boa.* Tracy & Co., Bankers, Oct. 19.. 67,632,9 193,908,0 17,892,0 7.899,0 322,946,0 6,056.0 143.794.6 " 26.. 57,632,9 168,410,0 17.833.0 8,193,0 223.603,0 6,068.0 133.101.0 No. 40 Wall Siren. NEW YORK. Nov. 2.. 57,632,9 197,624,0 16,556,0 7,987,0 326,001,0 6,063,0 141,324,7 by private wire. fllllQ.* CHICAGO. Connected MILWAUKEE. Oct, 19.. 88,716,8 178,142,0 64,814,0 209,359,0 9,813,0 107,615,1 in Grade Bonds. " 28.. 88,715,3 177,772,0 66,299,0 208.504,0 9,733,0 112,792,4 Dealers High Nov. 2.. 38,716.3 177.210.0 67.655.0 210.878.0 9,881.0 113,296.0 Ustlof Current Investment Off, rings sent on Application. • Stock Exchange. We omit two ciphers in all these tlgures. MCmDersMomhoro 5 N ew York _ Commission Orders t Including for Boston and Philadelphia the item " due to other banks." I Chicago Stock Exchange. Executed In all Markets. 1

9i)4 THE CHRONICLE. [Vou LXXIII.

daily closing quotations ; for yinrlij range see third page ganfejers'

Interest „Vo». DIVIDKND 1 -triads 1 7 8

2s, 1930 registered Q—Jan •109 •109 •109 • 1 09 Books Closed. • Company. Per When 2s, 1930 coupon Q—Jan •ioe -109 •109 Name of Cent Payable (Days Inclusive.)

KiillroadH (Steam). 3s, 1918 registered <^ -Feb '10H •108 •108" •i'o's" -108" Holders of reo. Not 20 Chestnut mil (i|iiar.) 1»B 8«,1918 ,. coupon Q—Feb •108 •10H •108 •108 108«a to 2 Clevclaml A Pittsburg, guar. (quar.).. 1>4 Dec 1 Nov 10 Deo 8s, 1918, small. registered Q— Feb a 4 to Dec 19 " -108" — -1*08" Norfolk «

1 , to Deo 1 • St. h. & Ban Francisco, 2(1 prof, (quar.) 1 M Nov 10 4s, 1907 coupon Q —Jan -112U '11214 1 1 1 1a • 1 1.. -112-* 4s, '139 Street llnllwayn. 1925 registered Q-Feb »189 , -139 *139 •139 Bait., pref... Nov 1 Oet 27 to Nov 1 4s, -139 United Elcc. L. & Power, 2* 1925 coupon Q —Feb M39 : •139 '139 •139 -107 Miscellaneous. *107 I *107 •! •107 15 to i lec 5 American Cotton Oil, coin 2 Dec 2 Nov 5s, 1904 coujon Q— Feb •107 '107 : *io7 *i •107 do do do pref 3 Dec 2 Nov 1 5 to Deo S •This is the price bid at the morning board; no sale was made American Soda Fountain, 1st pref. « Nov 20 Holders of rec. Nov 6 Dec Nov 13 to Brooklyn Union Gas (quar.) 2 a Coins.— Current quotations in gold for coins bullion: Chicago Edison (quar.) 2 Nov 1 Oct 25 to Oct 31 and Sovereigns $4 85 '334 88 Fine sliver bars — — T.,elilgn Coal & Navigation 8 Nov 27 Holders of rec. Nov 7 57>as Spanish Doubloons... 15 50 •315 60 English silver $4 81 3$4 85 Mexican Doubloons.. 15 50 315 60 United States trade WAL1, STK.KKT. KK.IDAY. NOV. 8, 1901.-5 P. M. Fine gold bars par ®'4 prem. dollars — 62 3-70 The Money Market and Financial Situation. -There has State and Railroad sales been a marked increase in the volume of business at the Bonds.— No of State bonds have been reported Stock Exchange since the elections on Tuesday. Whether at the Board this week. The railway bond market, in common with there is any connection between the two events or not, the other depart- ments, shows largely increased activity, fact remains. The number of shares traded in on Wednes- and in some important cases an advance in day has rarely been exceeded in recent months and the quotations. Transactions at the Exchange larger transactions on Thursday aggregated over 1,200,000 shares— were much than usual on Wednesday and on Thursday amounted nearly the largest recorded since June 5th. This increased activity to 88,000,000, par value. On both dajs Pacific convertible has been accompanied by advancing prices for a long list of Union 4s were the feature of the market for activity strength, railway shares. and selling up to 109%, The improvement noted has been stimulated somewhat by a gain of over 3 points. Wabash debenture Bs were also prominent and with late reports of railway earnings, prominent among which is Mohawk & Malone incomes advanced about points: Reading 4s that of New York Central, which shows an increase of over 1% gained over a point; otherwise the active list only $1,000. COO for the month of October. Some Western roads advanced fractionally. In some cases Burlington also show largely increased traffic. It is reported from & Quincy joint 4s changed hands in large blocks, Montreal that Canadian Pacific officials recently borrowed but fluctuated over a narrow range. Atchison, from the Grand Trunk twenty-five locomotives to assist in Baltimore & Ohio, Consolidated Tobacco, St. Louis moving the large grain crop in the Northwest. The out- Southwestern and Southern Pacific, in addition to those previously ward movement of gold has continued, although the ship- mentioned, were more or less conspicuously active. ments for the week amount to only §2,758,719. The open market rates for call loans on the Stock Exchange Stock and Bond Sales.—The daily and weekly record of ranged during the week on stock and bond collaterals have stock and bond sales at the various stock Exchanges, for- from 3% to 4 per cent. To-day's rates on call were 3% to 4 merly given on this page, has been transferred to a place by per cent. Prime commercial paper quoted at 4%@ 5 per cent. itself. It will be found to-day on page 1001. The Bank of England weekly statement on Thursday showed a decrease in bullion of £470,873, and the percent- Railroad and Miscellaneous Stocks.—The stock market dull weak age of reserve to liabilities was 46*44, against 45*63 last opened and on Monday, and so continued through election week: the discount rate remains unchanged at 4 per cent. the day. Since the holiday on Tuesday there has The Bank of France shows an increase of 4,475,000 francs been a decided improvement in volume of business as well prices, especially in in gold and 1,875,000 francs in silver. as the railway shares department. The New York City Clearing-House banks in their state- Thursday's market was active and buoyant, led by New ment of Nov. 2 showed a decrease in the reserve held of York Central, Michigan Central and allied issues. Rutland preferred advanced over 10 $3,338,800, and a surplus over the required reserve of points on bids that brought out only limited of shares. $10,482,800, against $14,713,175 the previous week. a number Union Pacific stock, as well as bonds, was in request, about 400,000 shares having 1901 Differences 1900 1899 been traded in during Wednesday and Thursday at prices from Nov. 3 Nov. 4 from 4 to 7 points higher than last week's Nov. 2 previous week close. Metropol- itan Street Railway and Manhattan Elevated were active, $ $ $ $ the former fluctuating over a range of 5 points. St. Paul Capital 81,922,700 74,222,700 69,422,700 98,965,400 90,109,900 79,083,700 was also exceptionally active, and advanced over 5 points. Loans <$> discounts 891,922,900 Ino 7,333,200 792,330,300 695,536,100 Other granger stocks were strong, and almost the entire Inc 112,700 30,717,800 Circulation 31,875,900 16,211,700 railway list closes substantially higher Net deposits 958,062,400 Ino 3,666.300 841,775,200 755,868,200 than last week. Specie 178,463,700 Deo 4,479,100 158,043,100 140,461,000 The iron and steel stocks showed a tendency to advance, Legal tenders 71,534,700 Ino 1,140,300 58.351,100 48,167,700 and New York Air Brake moved up 11 points. American 249,998,400 Deo 3,338,800 216,394,200 188,628,700 Sugar Refining was weak. Otherwise the industrial list Legal reserve 239,516,600 Ino 891,575 210,443,800 188,967,050 was generally dull and featureless. Surplus reserve 10,482,800 Deo 4,230,375 5,950,100 def. 338,350 Outcide Market.—The outside market was dull and weak Notb.—Beturns of separate banks appear on page 993. on Saturday and Monday, but following the holiday on Tuesday (Election-day) the dealings increased in volume, Foreign Exchange.—The market for foreign exchange has and the market closes to-day stronger and more active than continued strong. The supply of commercial bills has been for some time. American Can stocks which on Monday insufficient to meet the demand, and further gold shipments sold down to 17 for common and 62% for preferred, the have been made. lowest figures for these stocks since their initial appearance of exchange were as follows: To-day's actual rates Bankers' on the curb, rose to 19% and 67% to-day and closed at 19% sixty clays' sterling, 4 83%@4 84; demand, 4 87(24 87%; and 66%. Standard Oil also recovered somewhat. It sold 4 prime commercial, sixty days, 4 cables, 87%@4 87%; 83% @ up to 715 on Wednesday, dropped to 701 ex the 8 p. c. divi- sixty 4 83%; documentary commercial, days, 4 82%@4 84; dend, and to-day touched 710. The greatest gain for the ; cotton grain for pavment, 4 83%@4 84 for payment, week is in Dominion Securities, which, closing last week at 4 82%@4 82%; 'cotton for acceptance, 4 83%@4 83%. 84%, moved steadily upward, reaching 89% yesterday, with bankers follow: Posted rates of leading the final sale to-day at 89%. Kansas City Ft. Sc. & Mem. preferred advanced from 75% to 77 and the bonds November 8 Sixty Days Demand from 85% to 86%. St. Louis Transit moved from 28% to 30% and Prime bankers' sterling bills on London. 4 84*3 ® 4 87ia ®4 88 United Railways of St. L. rose from 83% to 86%. The bonds 1 1 Prime commercial 4 83 4 ®4 83 a also went up from to Documentary commercial 4 82*^2 ®4 84 89% 91%. Seaboard Air Line securi- Paris bankers' (Francs) 5 18V ®6 18^ 5 1588 ®5 15* ties, with more trading than usual, all advanced, and close (guilders) bankers 40iie 40*8 40r> Amsterdam | ® l9 » 403g at 27% and 51% respectively for common and preferred and Frankfort or Bremen (reichm'ks) bankers! 95 a 95ha 957i« ® 96"-j 86 and 101% for the 4s and 5s. International Salt & Mexi- * Less he. can National issues have been very quiet. Copper stocks The following were the rates of domestic exchange on manifested some activity during the latter part of the week, New York at the under-mentioned cities to-day: Savannah, with White Knob leading. This stock gained 5% points buying % discount, selling par; Charleston, buying par, and closes at 20%, after reaching 21% on Wednesday. New selling 1-10 premium; New Orleans, bank, par; commercial, issues quoted this week are the Realty Associates subscrip- $1 25 discount; Chicago, 15c. discount; St. Louis, par; San tions at 105@110 (a $4,000,000, real estate, building and gen- Francisco, 10c. per $100 premium. eral construction and improvement corporation) and the American Automatic Weighing Machine Company, the lat- United States Bonds.—Sales of Government bonds at the ter a consolidation of several weighing machine concerns. Board include $6,000 3s, coup., at 108%; $100 ditto (small), at The common stock, paying 3 p. c. dividends, was quoted at 108; $6,000 2s, coup., at 109%; $3,000 4s, coup, 1907, at 112%, 30 bid and the preferred, which pays 6 p. c, was bid for at 75. and $10,000 4s, reg., 1907, at 112%. The following are the The outside quotations will be found on page 1001. ' . % 1 A 1

New York Stock Exchange Stock Record, Dailv< Weekly and Yearly

iM ( I IM l\(. TH o r UJE«

/.,, 8T00KB—UJQIIEST AXO LOWEST SALE PEJi I S STOCKS

\ 1 vobj .Saturday Tuesday Wednesday Thursday w

. A'ov, 3 W»1 . / a ... Nov. 6

Itlljll OHll*.

1 96 21 Ann A 1 1 M.r 20 '11 56 57% 50 I 1.11 1 60

'1 '. SI 8] 'i Mi h 'i opeka a >n" 246,050 ran 1 ,ii 11 97 97 97 97% I In |.l . I M»J

Ids-, , 1. in 1 ioa 109 108 % L08% L09 108% 1 lliln. \ ut. tl. Ctfs. M'i ;'l '-j BA 9 1 9 1 % 94 Ho pret mm. tr. ctla Apr : ', 1 s 1 62 'i 02 64 'i 64% 63 i.iim.kix n Rapid Transit Oct 7 1 12 2

', 1 . 100 loo L06 L05H 1O0 109 109% 1 1 1 1 Buifalo Kurd .t K.t; 2,650 77 Marl9 \..v 8 • :.; 1. .'.1 \.,> I 'J 8 134 184 133% 1 138 Do |nit 1,160 Lie Mat 1 8 92 Jan 7 J 1 1 Si i'li IIP-, I 1 2 % 111% 112% 112% 1 13 112% Glanadlau Paclfli 12,620 87 117% Mm .,1 '.. ss .-i M 84% 84 > 1 % M 'lilniil.l Snill lii I'll 3,000 Sep 27

1 I ' . lit .) I'l 1,000 7 % 178% 173% 171 176 Illl'.ll \. » : Jan 170S.'

3 'KM' ' 1 < 71. Mav 3 1 .1 Ul i" 46 4 40'i 47% IB Itesapeako a loio 29 May 2 I .it. 86% 85 »i 36% 86% 36 37 V 37V 1 lliioago A Alum 8,800 J 7 70', »76% 77', •77 77% Illl JMI'I son 72 ''...Km 82% Apr 30

(196 195 193 198 si 'bioago Burl, a Quinoj 20 , Jan Lpr30 ill Dec \ 126 }124 12 1 127 i"3o" 130 131% 131% 13 1 I111 ami A EaBt'D IlllUOlS 2,150 91 Jan |,r29 Mar 186 186 186 186 136 l)n |i|it 120% Jan \|il IS 1 L9% I" ' 1 2 5 ' •-.">') 25 4 25 "25% 25', Chioa«o Ureal w eatern. l&OOO 16 Jan 1 let 2 1 * *;)-.' 31(1 _' '.II ', % 94 93 -92 98% 92%" 92% 92 % ini 4 p. <• debentupes mi .ru Marl5 M .1 Ul *8' "87 '.10% i"' % 88 % 87 % -80 ss 88 89 89 liu 6 p. 0. prt f. "A".. 800 75 Mnvlli J in 2 1 68% Aug 82 '41' 60 •49 50% 50 50 19 60 19 50 iiu 4 p.o. pret "B".. 1,000 42 Jan 8 56 Mar] 4 30 Dec 41 Hi 42 41-'i 12% 41% 42 s 42 12-1 42% Chic. Lndianap. a- Louiev. 14,990 23 Jan 2: 44%8< p 12 14 Jan 29 Apr J 71-' 71 4 4 '7Ha 77 72 72 72'., 73 7l"-. 74 Do prel :: LOO 58*4 Jan 21 Sep 1 6 15', J.m 1 Dee : 170'-. 170 1 lss Dec 109% 169% 169% 1.74% 172% 174% 172 '.i 171 V Coioago Milw. >. 1 213 1 1 .I'm 172 210%210% 208% 209% 212% 211 '1 21 8 212 1 ihioago* North Western 7,250 168% Jan 21 215 Ma; 50% i Dec Dee 240 240 240 2 1 1', iii. prel 850 207 Mar 1 248 April 7 : U3 el44% li;i >, i ii'. 145 146 140 148 i.46%i.48' Ohio. Bock i>iii a Pacific 10,280 110%.Ian 4 1 75 'l J lie 5 102 J di 122% Dee ' 185 142 136 1 12 SI 40 140 145 145 U47 147 (liir. St. P. Minn, it Om. 180 125 Mar 2 145 A pi 1 1 liu Oct 126 Nov

»194 199 194 1 99 191 199 194 199 Do jircl lso Mar29 2111 A ill 1 I 172 175 Mar

20% 20% 20*8 20% 20% 20% 21 19% 20% < ihloago 'l\Tin'l Transfer. 3,800 10% J an 19 31 Apr 16 ,Oel 1 P. Dec ; iiT ;;7 1 39*4 Apr 37 % 37% '.i 37 37% 37 38% 30% 37% Ho prel 13,650 33 Jan 21 57% Apr 16 26%Oi »99% loo 99% 99% 99% 100% 100 14 101 Clevi'. C111. Cine. A; St. L. 8,110 73 May 9 mi No^ s J'ne Dec 3 y l'21 i 1^1 i 121 122 121% 121»4 121% 122% 123 123 Do jirei 900 116% Jan 12 123 N0\ s in;;', .I'm lis Dec ('. ,jn -40 10 45 Clevo. Lorain & Wlieel'g. 27% Jan 7 37 Mar 14 '.j Jan Nov 74 70^ *72 72 Do iiruf 67 Aug 7 77% Fil, g 46 Jan 72 Apr is si In 18 »8 •13% 14 13% 14 L4% 14% 14% 14% ( olorad.0 <£ So., \ ot. trust 5.515 0%. I an 21 Apr 29 5 p 8% r, tlar 64 54 *53% 54 54 54 54", 54% 54% Do 1st pt vol. tr, % 5S% 59 59 Evanev. & Terre Haute.. 1,300 4 1 Jan 31 April' 38%Oc1 54% Mar *80 90 "80 90 f *80 90 *80 90 •80 90 Do iircf Si Jan 4 '.'.". April 74 Oil 91% Apr K Ft. WortiufcDen. C.,stmp. 17 Jan IS 30 Apr 20 12%. Mar 20 Dec a 3 194 4 195 4 194% 194% O 194% 195% 195% 190% 195% 197% Great Northern, jiret 16,153 107% May 9 20S .Marl 5 1 ll-i .In. 191% Dec 3 1 eiil 1 Dec M Qreen ii. ifc \V., deb.ctf.A 05 Jau 67 4 53%Mai 1 - 1 . Dee G 8 8 Do deli. ctf. B 5 7 % Jan 28 1 % Apr 2 2 5 , Sep 3 fiO * 57 50% 57 57 57% 57% 58-8 68 58% orking Valley 10,090 40% Ma) 9 58% Nov 7 30% Jan Dec 77 77% 77 77% 77% 77% 77% 77% 77% 77" HDo prel 1,020 69% Jan 21 so May 2 58 Jan Dec 139% 140% 140 111 140 141% 140% 141% 140% 142% illinois Central 27.H5 7 121 Mav 9 154% .I'm 29 110 Jut 132% in 1 3 b 40 4 41% 41 Hi 41% *41 41% 41 41% 40% 40% owa Central 2, SO" 21 Jan 21 43%Jnc21 11% Jan Dec- 7s "78% "77 Si 7S% -77% 79 78 7.s 78 78 Do prel 1,500 48 Jan 21 S7%J'ly 1 39 Sep Mar -4 33 66 "32% 33% *32% 33 33 33 33% 34% Kanawha & Michigan., 1,100 21 Jan 8 41 J'nel5 10 Jan 25 Dec ansas City So. vot. tr.. 13% Jan 4 25 Apr 30 7 Sep 1 7 •_• Apr Do prel, vot. tr. ctfa. 35 Jan 4 49 Api 3d 27% Sep 43 '..Apr *14 15 •14 15 •14 15 *14 15 •14 16 Keokuk A. Des Moines... 5% Jan 3 18%Od 3% May 6 Dec "40 45 -40 45 *40 45 *40 45 *40 45 Do prel 24 Jan 2 45% Sep 30 14ia Oct 23 Dec 72H2 7284 72 73 72% 73 72% 74% 74 74% Lake Eric A; Western... 5, SOU 39% Jan 21 74% Nov 7 2(1 % Mar 52 Dec Fell 1 I 5 131 133% *131 135 *131 135 133 133 *132 135 Do pref 400 1 (is % Jan 21 L35%Sep27 83% Dec ,2 i'l Dec *329 L. Shore A; Mich. South'n i 2:10 April 5325 oct 28 }1»7 Jan *67 71 69 09 73 73 -05 70 69 09 Long Island "006 07 Jau 3 s2%Jne22 47 ""Jan 89 May 104 104% 103% 104% 103", 105 % 105 105% 105i4 107% Louisville & Nashville.. 85,220 70 Mav 9 lll%J'nel7 68% Sep Dec 12334 124% 123% 124 123% 125% 124 'j 125% 124% 125% Mauhattiin Elevated., 72,120 S3 Mav 9 131%Apr22 84 J' nt llilv Dec a L -111-21 155 155 4 154'8l55% 152% 1571.1 155% 157% 155% 158 4 etropolitan Street... 59,504 150 Mav 9 177 J 1 13-S Sep 182 Feb

24i-> ; ; '_. »38% 39% -38% 39% *38% 39% 39 % 39% Met. West Side El. (Chic.) 100 27 Jan 9 40 Sep 27 Jau , Apr »S9% 91 *90 90*.. •90 91% *90 92 Do prei 79% Jan 15 93 Sep 18 76 Feb 84%Nov 22 22 21% 21% 21% 21% 21% 2134 21 21', Mexican Central 31600 12% Jan 21 30 Mav 2 10% Jan J 7 >., Dec K .', 13% 13% 13% 13 14 13 14 13% 1314 13% Mexican Nat'l tr. receipts 1,850 3% Jan 24 15 Oct 12 2% Sep Mar 128 128 130 130 *130 138 139% 139% *130 140 Michigan Central 400 107% Mar 4 140 Oct 29 J104 Jan 115 J'ne 109%110 109 109% 109 109 108% 109 :i4 108% 108% Minneapolis & St. Louis. 1,330 07% Jau 19 111% J ly 19 45%J'ne 71% Dec 121%121% 121% 121% 122 122% Do pref 400 101% Jau " 124% Oct 23 87% J'ne 104%2ioi s st 2 , 32 33% 32 4 3334 32% 33 1.1 31 32 14 31% 32 Minn. S. P. eo 52% 53% 52 53 % 521" 52% 53 5314 53 54 Y. Chic.

i '1 .I'm iei 91 '4 92% 91 91 90% 90% 91 911 91 92 '., Do 2d pref is SOI 47 Mar 1 96 Sep 28 29 {409 409 Ni \t York Ab Harlem 05 {409 Nov 7 420 Apr 1 inn Mav 120 . {136% 136% X. Y. Lack. A.- Western.. 50 {134% Jan 15 139 Feb 21 J130 Jan Mar

, Jan • 213 3161a 213 213 3214 214 {211 14 211% 211 213 N. V. N. Haven A.- Haiti. 150 {206% Ft'1'27 217 Jiu2i Sep 34% 34% 34% 34% 34% 34% 34% 35% 34% 36% N. Y. -Ontario A- Western. 40,700 24 Mav 9 40% May 1 58i4 15 : 50% 56% 50% 56»4 50% 57% 50% 57% 56% Norfolk & Western 40.000 42 Jan 10 58% Nov 8 S *89 >:: •80 9o 90 90 14 90 14 *89 91 90% 90% Do adjustment, prel. 200 82 Feb 15 90%J'nel3 (17 Jan Northern Pacific i-tv 77', Jau 21 ||700 Mav 9 si; % Dee 105 3 •_'1.73(i 9 1 % ' 104'i % 104% 105% 104% 105 '4 102% 104 4 zlO'_", 102% DO pref SI', Jan 2 1 113% May 7 87 Sep •60 ii 62 Nov 02 00 OO-'.j -01 . 03^4 04 68% 02 63 Pacific Coast Co 2.900 52 1 1 73 Jnel9 46 Ma) -93 Sep Di *92 100 loo -93 1U0 •93 100 -nr, J no Do lstpref SO 1 , liJ5 98 Apr26 82% * -08 07 % 70 70 *68 72 69% 09'', .,: I': Do 2.1 pre! "206 63 Jan 8 75 J'nel3 57 Mav '4 In C 148% 1 4 5 1 9 \pr22 148% 144% 145% 145 \t 146% 16 1 17% Pennsylvania 128,450 137 Mav

«40 4 3 1 18 43 40 1 42% 43 42% 44% 42% 44 in 1,000 1 I 7g 50 Sep2'i lieu 90 90 90 90 k 90 90 Pore Marquette 100 33% Jan 9 90 Jan '.'.'.'.'.'. ». 90 1 92 95 95 Do prel 72 Jan :>:.''.i Jan 70 7U : Chit:. 57 3H j'ne 7 Jan 71 71 70 71 71 Tl , Plttsb. din. A; St. 1- MOO Jan 899»4 " 105 105 105 105 Do prel 5 7 88 Jan ; Ma> 7 "42% "43% 43% 13% 43 43% 13% 14 '4 43% "i'i" ading, vot'g tr. etfs.. 72. 100 24% Jan ; 1 Rt 7 Tlj si i 77 4 77% 77% 77% 77% 77 '4 78% 77% 1 pret vot. tr. ctls. 65 Ma) 9 nel7. .31 nit 64 54% 54% 54 54% 54% 551.1 54% 55% 2d prel. vot'g tr. etfs.. 41,400 38 .1 Rio ' liantlc Western 0:. i-iii 5 Mai 23

Jan ! >< C Do prel 93 1 80 BANKS AND TRUST COMPANIES—BROKERS' QUOTATION s

1 Dank* li uuk» Bid Ask Batiks Bid Ask ItiuiK". Bid A sk Banks lillilh-

Chemical 4152 First I ' 1 ]> At Trad. .Ml Morns' .. LSO IHV YORK t (new).. ,702 t Citizens' 170 14th 105 ...... Ir\ ing 190 Ji atuall I'helll 110 110 CITY Bid Ask Street!. City tool Leather 2 50 .... 611% Fourth 235% t Mfr. Nassau", 190 170' American ... 530 Colonial! ... 300 Gallatin 110 430 i iberty 500 Xev. Alnsler 1 in" Trod ( Amer Fxch.. 2S5 295 Columbia! 335 Gan8evoort! 140 11 900 N 1 a ^i 111 k 'n 1500 4 51 :;^r< I Astor 025 725 Commerce. .. 390 Garfield 5011 >•* - Manhattan!. 300 N"5 Nal Si (..nil Bowery! -• 300 Commercial . 100 German Ami 133 Markel a i-'u 1 250 270 New i'ork... 3DI . . Bhoi A ] ..Hi L07 112 Broadway 420 13" Cora Fxchv 423% t German Ex" 325 Mechanics' . 270 285 19th Warii* . L50 ' .-.on Butch'e&Dr 115 Bast River.. 140 150 .. 500 Mi rli A lia' 110 Ninth Germania! - ' i] \ Central 191% t Lit* Ward!. 150 Greenwich 175 Mercantile .. 255 North 210 N • 12th \- 110 Century! 165 rid. m 240 Hamilton! .. 150 Mi ich Exch. 140 L55 .1* .... 175 .. Chase 700 Fifth A\e' ., 3250 Hanover 675 M 1 rchants'.. 190 200 200 23d Wardl 110 t :,7o Chatham 330 14 Filth 325 Unit- .V- F'ath 1 50 .Metropolis* 650 Park. Union 300

• ni-'liis. * I s di\ ltlcnil and Bid ami asked prices: uo sales were made ou th. s (lay. i Less than LOO ires. ; Ex rights. Slate hank-. a 1 Sale at Stock Exchange or at auction this week SAoek "cornered" sales for "cash" were made as high as 1 rtificates. V u , ' ' .

996 StOCk ReOOrd—Concluded—Page 2 [Vol. LXXIII,

Kill EST .s.l/-/. PRICES JUingc for Year 1901 CK8—R ASD LOWE8T STOCKS | / da i;.\i 11 a )'. .N A" 4 Aul). 5 A l 01 l.rncrxt Jilyhest J.owtit JHuhett

102 97 99 10a loo 1 : i II I 118 Bnl land, pret 97 Nov 4 Nov 7 ', ' 1 I • 'lll' *io Hj in'.. 1 1 •10V 8 1IH. Ot .1. ., 70'., «a 68 68 Hi 68% 09 ])o 2d ]>rcl Jan 4 70 V. i Deo 3 »26% '26 27 'k 29 28 Hi 2U 4 st. Lonla Bouthweatern.. >luy 9 89V Api 30 8% Dec COS* 68 Hi 60V 59 Hi 60V iJo prcf Jan 8 71 J'nelOJ .J'lie (Ml Ml ', BOH 62ia 61 "a 62H Southern Pacific do 191,610 29 -Muy 63%j'ne 5; J'ne 3:; 34 Hi 86 Southern voting ir. i 1- .Ian 21 86% J'ne 8 J'ni Deo 88 V 893b 89 Hj 90% 91 "a OiK'a Do pret v.ii. ir. 1:11.1 07 V Jan 21 81%Nor 7 .I'm Ijl-O I 49V 4U".i 41=8 "'x;is i »89 89V 39 40 Hi 41 "a '

1-J-J >118 lis 120 1 '118 122 118 Lhlrd Avenue IN. ¥.)... 1 7 May 9 129 V Jan 8 45 V Mar Jan 21 21 »21 21*4 20% 21 2] 21 21 21 lol. St. L. & W. r. tr. crfs. "eoo ln'i Feb 10 25VMay22 85 :;.. * 34 Hi 30 86 86% 88 30 Hi Do pret vot. tr. cil.s. 1,050 28 -May 9 89VMay22 3 7 •99 101 100 100 loo 4lol e 102 V 102 V Twin City Rapid Trauait. 1,750 66*4 Jan 21 105 V Sep 5 oi Hi J'ly 152 152 Do pref 147 A prl'.t 157 Sep 10 130 Jan 140 l"e r 3 7 3 107 l Hi American Cotton Oil 1,525 24 Hi Mar 9 36VJ'nel7 SO J'n. 37% Apr •88 89 Hi 8 89 "a 89% 89 89 '. Do pref 250 85 Apr 10 91 Hi Jan 8 100 Apr '192 is. 5 190 195 •190 196 •190 195 130 195 American Express 8169 Jan 12 '(205 Mar20 8142 Mai 191 Dec -' 3 3 . 6*642 27*8 2 7 Hi 27% 27% 2t; 8 27 27 »a 28V 27 2«3a American Ice 25 44 *40V 50 Hi 45 40 M 45 4 40 •45 48 Do pref 700 31 Jan 24 00 J'ly 9 34 V Dec 60 Feb ' 25*8 25 Hi 25*8 253g 25 25 Hi 25 8 25 Hi 25 2 5 Hi American Locomotive... 0,700 22VAugl3 32V J'ly 8 *83V 84 Hi 84 84 84 Hi 84 Hi 84 V 84 ?e 84V S4"8 Do pref 3,88c 83% Oct 4 89 J'ly 8 •0 •6 6V ti •6 OHi OHi OV OV American Malting 500 4HiFeb 4 8 J'ne20 3 J'ne 734 Jan *24 27 •24 27 •24 20 •24 26 •24 20 Do pref 22% May 3 30 J'ne25 18% J'ne 31V Jan 3 3 3 413s 41% 40 4 41 40 4 41V 41 4 44V 43 44V Amer. Smelt'g & Reiin'g. 15,500 38 V Oct 7 09 Apr 20 34 Hi J'ne 50 Hi Dec •95 00 95?8 96 95% 95% 96 97 "9 97 V 97Hi Do pref 3,532 88 Feb 20 104%J'no20 a5 J'ne 99 Nov 42 42 42 -34 42 42 American Snuff 26 MarlS 49% J'ne 8 85 Hi *84V 85V •8414 85Hi 85 Hi 85 Hi •84 V 85V Do pref "ib*6 73 Aprl7 90 J'uel4 3 118 118% 117V118V 110 II8H1 1103a 118 Hi 117Hi U8 a American Sugar Refining 47,050 112% Oct 7 153 J'ne 3 95V Mar 149 Deo •116 116V 110 110V •110 117 110 HO^ •115 no Do pref. 900 114 Sep 30 130 J'ly 19 107 Mai 118 J'ly •98 99 99 899% •98 99 -98 99 American Tel'gh & Cable 110 894 Jan 7 100 Aprl3 *87 Sep ;98 Hi Jan 3 1583s 108-% 157H2l57Hi •150 158 8l58Hi 158 Hi 157 158 American Teleph & Teleg 350 157 Hi Nov 4 1G7 4 Sep i 8 American Tobacco. ... 99 May 9 144 J'ne 8 84HiJ'nt 114% Deo "142% 147 142% 147 •143 147 *142 34 147 143 147 Do pref 137 Jan 2 150 J'ly 12 128 Ma^ 140 Feb 16% 10% -lOHi 17 17 17 •10 17 17 17 American Woolen 600 13VMarl5 21% Jan 2 21V Dec 22 V Deo 76 79 •70 79H? « '77 80 Hi •75 79 •77 80 V Do pref 400 70 Mar22 82%J'ly 1 76 Dee 76% Dec o 3 85 35 34% 35 3 34% 34 Hi 34V 35V 34 34 8 Anaconda Copper 10,000 34 Sep 20 54i4AprlO 37%J'nt 54% Apr •213-4 214Hi 209 209 *200 212 •208 212 208 212 Brooklyn Union Gas. 100 175 Jan 18 228 Apr 15 140 Jan 183 Dec 3 3 10 34 10% 10V 10V O *10 11 *10V 11 runsw.Dock 14 14 V 14V Col. Hock. Coal & Iron 700 12 Hi Oct 23 25 V J'nel7 HHiJ'u. 21 214% 214V 213 214Hj 213 216 215 Hi 217% 210V 217 Consolidated Gas (N. Y.). 5,900 187 Jan 18 238 Aprlo U64 Sep -01 Nov 4 3 *114V 110 <114V 116 *114V 116 114=8 114 4 115V U5V Continental Tobacco, pref 300 93V Jan 2 124 J'nelO 70 Ma> 95 Nov •132 V •132 • 130 138 132 V 133 Diamond Match 220 127 Hi Oct 10 152HiAug29 3 "9% 3 8 8 Hi 8 4 9% 8 4 9 8=8 9 V Distilling Co of America. 9,485 6%Oct 14 10HiJ'nel8 3 1 29V 30 30 31Hi 31V 31% 31 4 32 4 32 V 33'8 Do pref 10,005 23V Sep 13 33'8 Nov 8 •22 30 •22 30 *25 30 •25 30 Gas & Elec. of Bergen Co 24 34 Oct 10 101%J'nel9 64 Ma> 81 J'ly r 3 258% 2. )N-'4 258 258V 258V 200 258 259 4 257 269 General Electric 3J895 183 V Jan 10 269VJ'ne24 120 Jan •200 Dec 3 40V 40% 41 41V 40 41% 40 40 4 a;39 39 Glucose Sugar Refining.. 1,947 37 Oct 24 65 May 2 44 Ma\ 60 Nov •95 99 •95 100 •90 104 JWu'a 100 Hi »90 96 Do pref 190 93 34 Mar 5 107 Aug 5 92 Dec 103 Nov 203s 20V 20 20 20 20 20 20 19 V 20 International Paper 1,600 ISHiMaylO 28 Mar22 14 Hi Mai 26% Nov 3 7638 76% 76 76 70 70 Hi 70 70 75 4 76 Do pref 1,400 69 Jan 21 81V Sep 10 58 Mai 75 Nov 88% 88% 89 89 88V 88% 88 Hi 89 88 88 V International Power 700 54% Jan 2 lOOVMayiU 24 J'ne 55 34 Dec 3 -0 ;j 86 34 4 6% 6% *6V 6% a International Silver 110 5V*'eb 7 11 Jan 5 3 V Aug 10% Jan •33 39 Hi •37 39 Hi Do pref 33 Apr25 40 Sep 7 *40 47 V 47 "4 •46 47 Hi *45Hl 47 47 *45V 47 Interuat'l Steam Pump.. 400 24 V Jan 22 47 V Nov 2 28 Dec 29% Dec •84 Hi 86 85 85 -84 Hi 80 Hi 85 V 85% Do pref 100 74 Jan 24 89 Oct 10 76 Dec 77 V Dec "92 <>; •92HJ9*5" •92 Hi 95 *92Hl 95 Hs •92 95 Laclede Gas (St. Louis) 70 Jan li> 95V J'ly 8 05 May 80 Jan •100 *100 .... 100 • 100 •100 Do pref 95 Jan 21 102 Sep 17 90 Jan 100 Jan •8 12 •8 12 *8 12 "8 12 •8 12 Manhattan Beach 8 Oct 12 22 AprlO OV Jan 183* May 3 42 42 42 42 41 Hi 42 42 42 41 4 42 V National Biscuit..., 955 37 Jan 21 40 Mav 8 23 J'ne 40V Nov 102 101 103 Feb J102 102 Hi «101%103 102 102 102 Do pref 200 92 Jan 2 103VAug2O 79 Hi J'ne 96 •20 3 3 3 20 V 21*8 20 Hi 20Hi 20 4 1934 20 19 4 19 4 National Lead 1,500 15 Marl4 25 Hi J 'nel2 15% Aug 28V Feb •85 90 •85 90 •85 90 •85 90 •85 90 Do pref 81 MaylO 93VJ'nel3 83 Aug 106 V Feb *29V 42 -29 Hi 42 •29V 42 National Salt 23 Oct 3 50 Mar21 32 V Oct 46 Nov *63% 73 •08 72 08 08 62 63 Do pref 400 61% Oct 1 84 Mar21 09 Hi Oct 76V Nov •140 145 142 142 144 150 147 149 V New York Air Brake 2,850 133 J'lylo 175 Apr20 112 Sep 175 Nov *94 90 95 95 Hi 90 97 95 V 95Hi North American Co., new 2,000 73 Hi Feb 14 109 J'nel8 3 •44 45 44Hi 45 45 45 Hi 45 Hi 47 '4 46 4 47 Hi Pacific Mail 18,900 30 Hi May 9 47 V Nov 8 25 34J'ne 57 Nov 100 3 , Apr 101% 103% 100 102 99 101V "a 102 -Hi 101% 102 4 eop. Gas-L.& C. (Chic.) 130,975 95\ Jan 21 120HiJ ne21 81% Oct 111 V 3 3 42 34 43 43 43 42 Hi 44 se42 Hi 42 8 42% 42 4 Pressed Steel Car 10,900 30 Mar 7 52 Jan 2 32 Hi Sep 58 4 Jan :1 82 V 82 Hi 82 82% 82 84 83 4 84 84 84 Do pref 0,350 72 V Mar 5 89 Apr 29 70% Sep 89 V Nov *218Hi220 •218 220 •218 220 •218 220 •218 220 Pullman Company 195 V Jan 21 225 Oct 17 176 J'ne 204 Dec •3 3 4 *3% 4 4 4 4 4% '334 'a *4 4V Quicksilver Mining "*ioo lVApr22 5VMav31 Hi Aug 2VMar '8V 11 •8H1 11 -8 Hi 11 -8 Hi 11 "8V 11V Do pref 7 Mar20 12%Mav27 7% Oct 10 V Mar 1 3 •1434 15 . 15 15 14% 153a 15 153a 15 16V Republic Iron & Steel 3,875 1134 Sepl3 24 J'nel7 8 4J'ne 27 V Feb 00= 3 3 66 Hi 66 Hi 60V OOHl 00 06=6 00 8 00% 60 4 Do pref 3,000 55 V Jan 21 82 Apr 1 49 Aug 70 4 Feb 27 Hi 27% •20 Hi 28 20 Hi 28 -20H3 27Hi 20 V 27 Rubber Goods Mfg 4,400 21 Hi Oct 4 38 V May 2 •74 70 •74 70 •74 70 -74 70 Do pref 70V Sep 30 90 May 2 •29 31 -29 31 Nov *29Hi 31 *29Hi 31 Hi Hi '29Ha 31 Sloss-Sheffield St. & Iron 19 Hi Feb 5 41V Apr 2 17HiOct 26 •76 79 •77 79 •79 81 '77 79 •79 81 Do pref 65 V Jan 22 8034 Apr 8 59 V J'ne 71 Nov 3 *4V 5 4 V *4V 5 »4V 4 4 •4V 5 Standard Rope

Bonks Banks Bid Ask Banks Bid Ask Truat Co's Bid Ask Trust Co' Bid Ask Trust Co's NEW YORK BROOKLYN BROOKLYN C'lR'tyBATr 500 580 MortonTrust 1201 t Ask BROOKI.rU Sid Ask CITY Bid 8th WardU .. 85 17th WardU 125 Central Tr'st 1S50 1950 N Y Life&Tr 1250 VarickH 230 5r th Avenuel, 100 110 Sprague 200 213 City Trust... 350 N YSeo&Tr 950 Brooklyn Tr 425 246" Washingt'nl 200 First: 295 26th WanlV 140 Colonial 375 North Amer. 240 Flat bush 170 WestSideli.. 000 Kings Co||... 130 Union*, 140 160 Continental. 445 Real K.st Tr't 350 Franklin .... 290 310 Western 620 050 Manufactrs'. 2S5 300 Wallaboutli , 105 Farm Lo&Tr 1400 1500 StandardTr't 385 Hamilton 302 Yorkvillell .. 240 Mechanical] . 215 Fifth Ave Tr 1050 Tr Co of Am. 268 275 Kings Co .... 410

j Meoh

New ¥ork Stock Exchange—Bond Record, Friday, Weekly and Yearly

(icci r\ i\<; i 01 it J'.\. BOMDH BONUS Price WeeVt 1 atige Vl mtje •^ v. nee H. V. .STOCK EXCHANGE X. V. S'l'iH K I.Xi'll A Auv. a mry 1 \IJl.\u Nov. 8 3$ A'ou. 3 Last . -\i/V. 8 Ask Lulu Hid Atl. l.oto Jliijlt Ho I.ulu ilajh 1 . mi. /i ..I .N J—{Continui U. s. Government Am link A Imp gu 111'. 114 w V B 2a consol registered.

1 VI 8 2s consol ooupsinall.tilOSO JH . 105»4 N V do Dong .ij I'.ieii.i 1 u V s as registered tS 10s loo 1 07 H« Ool HI. 'j 1 1 L«b Paclflo Het m> >. i. 1st 7« 1936 "U S 3s in u pun k 1018 1 08 Si Bale 108"a 108 Ht 10«'4 112 1 a .v >av e — 114 I 117 s 3s regsnuvll bonds. ./cl918 Q--B a olno g Osser A../. 112 114 ^ U 110 • i i I &191 XI S 3a oou small bonds.. 1(19 1 i08""i09" iba 108 i"06«lj i'12" Cold 6a

1 i'i'6" 122 In I V B Is registered A.1907 q.j 112'4 113 112'a 112'v 1 1\ 1 II , lwi consul g 5s 989 l .-- *'.! 1\>.,:> 121 J 121 •; .i 112 '4 11.1 I12 4 112 Beglstered V s is coupon h 1907 LIB '.i v 3 4"-28 iof" . .n. 107 H; 104 108 4 V 8 Is registered y-F ISO 1 37 Gent 1 ul gold 1992

- Apr '01 103 103 i - coupon F 139 II l (M 110 ...1940 106 i - registered 1904 U-F 107 Msy'OJ '01 : Is.. 104 "9 lo.,-. iOl'4 H»7 Hi VJ s us coupon .1904 (J-F 107 107 '.1 108 Oct B A A Dl\ lsl 0011 L989 L989 103 loreign Government \\ .11111 \ lnl inr'99 .'-in J •12 10034 Sale 100 4 101 LOO*" i'02Hi .loll-ou-M.iin 3%B B< C 1.. M-S 01 «b '„ 91 8 Oct '01 91 h I A B B gi 'j '40 a«.v. ' a the ba sis 0.1 to Is on pj 1 on marke 4 '01 3 102Hil«* 4 in. < VJ s oi Mexico » 1 g 5s ul 1890 U.-J Ou Api inr ,v Alt ill: a lima 68.. Sale 87 bTi-2 80 94 liese are pr tees n the t> as-ls to a. funding g 3a i 8 Mine Securities Miss Kiv B 1st sf g Us.. 1012 7 85', u. 08 H, Oct 108 109»s >,tvay Lsl Lien 1 '00 111'.) ! Oct li. I Class 15 6a 1900 J-J 107 "a glstered 7 Mai' I073el08' 107^001 '01 10U36 109 8 Class C 4s J-J 103 . HI LOS" 108 >a Cine lliirdo y consol 78...1903 104 34 Ajir'OO currency funding Is 1920 JJ 100 . LOS Aug'Ol L09 LOB Chic do low a lav 5s 1005 10138.... 1013, Oct •((] 101 102 Hi Dist ol ;>-u.">s i i-'-A 12U . 126 Oct '01 125 Hi nver inv 4s Columbia 192 126 3 llllr'4 ll'iH 1027e 102% 101 4l04H, Louisiana new consul 4s.. 1914 J-J 107 . Aug'01 100^109 Illinois DlT 116i» Small loosii'eb'99 Iowa lnv sink tunil 5s.. L91 9 112 1-2 .... 1 15 '„ Aug'01 114 103 .... 103«80ot '01 103«bl07 Missouri funding 1894 1995 j"-J ' Slnlangfund4a 1919 110 113 < 110 1101-2 110 no-* North Carolina consol 4a. 1910 J-J 100 i06»4 Oet"'oi I05" ii)534 Nebraska Kxteusion 4S.192 109 Hi Aug'01 109H»11234 6fl 1919 A-O 134 KlU^J'ly'Ol 135 186^ Beglstered 1027 100 3 Bo Carolina 4 H»s 20-40 1983 J-J 120 Max'00 Southwestern Div4s L921 loo^j-ncol * 1003b Tenn new settlement 8s.. 1013 J-J "OS* 116 '-j Sep '01 96Ja"99»4 Joint bonds aee Great JS ml li '01 HOHiOcfOl 108°8ll234 BmaU «, J-J ;i5 Oct 94 hi 88 Debenture 58 1013 108 HOia 120 120 Oct 'Ol 120 128i4 Virginia fund debt 2-38...1901 J-J 96>aNov'01 93^ 9034 J lun s"l634 1st g General consul 1st 5a. ...1037 12178 Sale 121'4 121% 4-, 115 127 I Call loud Kegistered 1037 115 Aug'00 Alabama Cent aee Bo Ky Chic & Ind C Ky 1st 58.1936 1211a. 120 Hi Oct '01 112»4,125 labaJlidl aee Sav Ela & W Chicago do Krie aee Erie Albany do Susq A« Del do Hud Chic In & Louisv ref 6s. ..1047 124ia. 124 124 115 126Hi ii3i 'o; 100^8 Allegheny Valley ace Kcnn Hit Kefunding gold 5a 1947 113 . 4 oct H4Hi 1 7 1 1 AUeg do west Bee Han k & 1? Douisv N A & Ch 1st 68.1910 115 . 1 5 5 % 113 117 J Am Lock do ini aee CeutolN J Chic Milwaukee do St l aul Ann Arbor 1st g 4s /tl996 Q-J 97 Sale 96Vi 97 22 95 101 Mprior lg3HiS. 1925 J-J 9G 4 Sale 96»a 963i 37 94»a 9734 1'ardo Souassu g 6s 1924 .... 137 aJ*ly'99 '01 12334 '01 120*" 1261", Beglstered / t l9: U.-J 03 05 Oct 95 95>-2 Ha8t4 Sale 103 103 »4 i"7*9 99 105 1st 6s 1910 UOis.... llOHiMuy'ol IIOI4HOH1 » '01 Kegislereil..... A1948 y-J 100 's Sale lOO^ 100 b CO 100^104 I & D JSxteu 1st 7s 100b 185 Oct 185 188 1 1 '01 Conv deb 4s 1011 M-S 108 * Sale 108^ lO'J -. 1072 100>2 110 LaCrosaedb D 1st 5s 1910 117Hill9 117 \ Oct 117HillO a '01 108 llO'g P Jim do M Div 1st g 8%Bl925 .U-N 80 4 Oct 87 'a 01 '4 Mineral Point Div 5s. ...1010 110 .... 108 J'ly'01 Kegistered pl'j So Minn Div latOs 1910 117 117H; 117 Oct '01 11478 119H4 3 Soutuw Div 1st g3%s... 1925 J-J 90 Sale "80ia""9*6 100 88%* 93* Southwest Div 1st Us 1900 116'8ll634 115 4 0ct '01 113 117Hl '01 11638120 Kegistered A.1925 Q-J OO'aJ'ne'Ol 90 "a 91 Wis do Minn Div g 5s 192 1 II834 118 Oct Alonon BiV 1st gu g 6s. .1010 F-A 111 May'00 Mil do iSio 1st M L Us. ...1910 117 116 J'ly'01 116 1193g Cen Ohio K 1st og4HiS..190u M-S ill J'ue'90 1st consol Us 1013 120 11834 Sep '01 118 34l22 Beech Creek ace .N 1' (J do 11 Chicago do Northwestern Belle v do Car ace Illinois Cent Consolidated 7a ....1915 137H1 140 Oct '01 139 34l42Hi Bklyn do Alontauk aee Eoug 1 Gold 7s 100'. 106 IOU'4 1 05 '2 Oct 01 104 Hi 108 3 Bmns <£j West aee Sav 1 1 do \\ Kegistered 1905 10U Oct 'Ol 104 4 108 Builalu JS V d; Erie A'ee Erie intension 4s 1886-1926 109 Hi 109H) 109 Hi 108'4H-' 3 3 Buflalo K do E gen g &8...1937 M-S 118ia. 118 4 Nov'01 115 118 4 Kegistered 1886-1926 107 -Mar'UO Debenture Us 1947 J-.I General gold 3I2S 1987 111 Oct ul lOOHtlll All do West lsl g 4s gu.,1998 A-O ,»198< 103 Nov'98 do .Mali J-J 13'ia CI 1st gu g 5s 1943 103 Apr '0 / Sulking fund Us...ls7 9-1925 114 Hi 117 116 J'ly'01 i i'i&l do '00 Koch PlttS 1st g Us... 1921 F-A 128 . 127 Oct 'ol 127 l:;o'4 Kegistered 1879-1929 111 oci 10*8*4 ii'oi" Consul lsl g Us 1922 J-D 12U>4. 129 129 128 131 Sinking lunil 58...1879-1929 106 Hi "I" k.ug'01 Bullalo do suuthwcsi aee i-.ru Kegistered 1879-1929 107 ; - Mi.'. nl 1073s 107*9 Bullalo do Susqu lsl gas.. 1918 A-O 100 Noy'99 Debenture 5s 1909 107 Hi 109 110 Aug'01 108 11034 Beglstered loin A-O Kegistered 1909 100 in- Oct 'in 108 10S»8 J-J 1 'nl 3 11714 lt)0>4 102 2 Debenture 6s 1921 11414 1 L4 / Oct 114 4 X Bur Cedar K do .No 1st Os.1906 J-U 100 10U 4 100*4 104 ht 105 '4 Kegistered ...... 1921 114 Oct 'Ol 114 114 Cou lsl docollrustg 08.. 1034 A-O 124 Sale 123^2 124 110 ^127 1-2 Sinking lunddebSs 1933 1211*122 12l»aNoT'01 121Hil25i« istered 1034 A-O 117 Nov'00 Kegistered 1933 123 May'01 122 123 C K 1 1 do Ar W 1st gu 6s. 1021 A-O *114'8. 113'iiDeo'OO Des Mu do Minn 1st 7s. .1907 M do .St L 1st gu g 7s 1927 J-U Milwdo Madison 1st Os.. 1905 113 Jan '01 113 113 7 Cianada Boutli isius ioo& J-J 107 107 107 105 ia 109 .North Illinois 1st 6.s 1010 110 6 Cct 'ol 110^8 1U '2d 6s X913 M-S 108 loo's Oct '01 107 111 Ott C P do St Pan! 1st oa 10O9 110H3 IIOI4 Aul ni IIOI4HI1* 3 1913 M-iS 107 Aug'Ol 10U 4 108 Winona do St Pet 2d 7s. .190 121 120' o -\1945 F-A Kegistered 1988 IOUI4 105Hj108 gold 7 Consul 6s lv-lo M-N 107 5* Safe" 132 *97*«i**8** Des M do Pt D 1st 4s. ...1005 9.1 „ Feb '01 90 8 99% Btered 1945 M-N lOo^Sip 03 105ia 105ij lst2ias 1905 8UI4 Aug'00 * 1st pref income gfia pi 945 Oct 71^ Sale' 70 72 67 00 84 "9 Extension 4s 1905 97 Deo'OO pre: 2d Income g 6s p] a IS Oct 29 -Sale 27 30>-2 7;. 20 30 1« Keok & Des M 1st 6s. ...1923 lll^a Aug'01 llOHiliai* prei ( 3d income g 6s pl945 Oct 10 Sale 15 10 2; 8 21 'hie .lo St 1/ ace Ateh T do 8a Pa Mac do Nor DiV 1st g 68.1948 J-J 95 Deo '99 Cine StL&.N'U aee 111 Cent Alid Ua do All l/iv 6s 1047 J-J 102 J'ne'99 Cine St Ldo Pitta ,S<-

998 Bond KeCOrd—Continued—Page 2 [Vol. LXXLU.

BONDM 11 ' HOM» I'll:' If. . Hang* '1~ J.'iinge ,si *- - ' l:a itr x. Y. STOCK EXCHANG Friday Rangi or I N.N CHANGE aye Wi be Ending Nor. 8 c*i% i. a .i sal* Janv » MUM. N<. I unitary 1

Lou ll, ,h 1 1 mh Md liiljh Chlra .1947 J.J 91 "a Sail 91 9 ] 08 I.' < •' 3o See en M a Btr

• ,s... , v i i w est I 1st si g r, L019 M N lo7'i 107% I'm M p (

< . I . lsl • [i . n 1 lla S< 1 i :i I 1 A 100 00 l Is 117 I gold '/1 932 Q V, L19% Pen

I si land (TT 1 i \\ est Mm h in B 1921 .ID Inn 01 gold ... :i .tan mi ( a , .oi:u .1 .1 Con 1943 line Ok , 103 '••- 105 .'] I Fort 1st i Cm 1 1 .\. 1) ood L90S \ O 16 StU D Co n 1941 10* i'i isi loT . 107 -111 I ..IO-ji 2d gold I %s L987 .1 -J l.. W a Don C g6a

. 1!' I i .1 l.v'Ol Bi

/ 'ill liar s I C I St LA Bee COOJ si I. A \ See So (hi SAO SeeCCCStL "• Tal ll A ll oi 1882 1st :,- 1913 L02 105 Ocl '01 -.. 10J 105 isi :ni, Clearfield & Mali See B B a P Ga a Ua By ].t g Dec Cloveland I'm Ohlc a si Louis 1st i ol9 I'.

( ... .'. 107 1 1 1 L-n aeral g is J-D 1 1 04 \ in a No 1st u 6s. .1929 '01 Georgia Pacific See I'.v i Jan lalro Di\ i -i gold La L939 J. 99 99 99 So \' Oi t '01 :<><, Kti'i i tila <; a Gin \v a M i >i v Is) g i - L991 .1- J 102 KM Nor See So P '-lie ln- : - (omv OsweKBl STCen I>iv 1st 1- . 102 102 102 102 & SeeN st 1. ool n -a L990 M-N Begistered 1990 M N "9*8""*"""! 99 Grand Bap J) I nd See Pi nn ( lo i. lavs jm si i, s \v Spr a Ool Div Lsl g Is. .1941 M-S ion J'ne'01 ioo" ib"6" Tern See Nor (' ISA Ills Sale 1198 96 101 i'i- I'.'iu Nov'99 G1 QCOll 1921 J-J I 98 98% W W Val .1 J 88 Grei < lies I st ]. a- (; oonsol 6s 1920 M N 1 05 . nbrier By See a o '.j st . 10 1 S. p'Ol 104 106 A- .lu See I; a 1st gold is fcl936 i L06 Han C Q ousatonlo See s \ s n Registered ... " I ha -i Lit""* in I oi Hock Val 1 st consol 107% Sali 1 07 1 07 10 1 03% 109% cm S A CI run l g 6s. . 1928 J. iirev il8%il5"i g L%s.l999 % i l 'oi Begistered 1999 CO i:,t i oonsol 7s mil J.]) 3 130 138 ~ '.'.'..'. • Col II 1st e\t 101 101 Ocl 01 i OODSOl >*inl< iuiiilTs. ...191 I J-I) & V g 4s. .194 06% .1 l> iM lloosi General oonsol gold 6s. ) 93 I J-.I L83 L31 138^ E & W Tes Bee So Pao Hoiist Registered 1984 J -.J a- TexCen See So Pace.. lud Ml A \v 1st prel 48.1940 A-O 104% Illinois Central ist g Is. . 1 95 I Vpr'01 116% 116% Did A W 1st pt6s...dl938 Q-J Begistered L951 1 13>oMar'00 ii is... 1940 A-O '98^ Sale 98% 28 95 '-J gold 3%8 1951 Aug'01 iof'% Income Is 1990 Apr 7S Sal. 71 78 234 45% 79% Begistered 1951 102%Apr'98 '01 1st ci Lor* \Vh con 1st. g Bs.1933 A-O 115 115 Oct 11.. 116 gold 3s sterling io:. i 9.". cii v & Marietta Bee Penn R B Begisl ered 1 l cievA Mahon Val g 6s.. .1938 J-J 129 129%Moy'01 129% 130% Coll Trust gold 4s 1952 O 10 1". (let '01 101 dm; Registered 193s Q-J Registered 1952 o 102 OCt '01 102 102 •i.'..: ol Cli-v & Pitts See Penn Co LN & Tex gold t -. ... 1 N. 104 H:. 106 Ocl 102 106 Col Midland 1st g 3-4S....1947 J-J 81% Sale si Si', 2 78 S7H Registered 1953 N 9a Jan '00 1 811-2 '01 S7 -. cano 1st gold 4s 1H47 J-J SI '-J Oct 77 Bridge gold 4s 1950 D 102 102 1 1 102'j 10 100% 103 Colorado A 8ou.lstg4s... 1929 F-A 88% Sale 88 88

is Oet'l'l to Western Is. . '01 115% Morris <£ Essex 1st 7s... 1 9] 1 M-N 133 136 138 136%3 Lines Istg L961 A 113% Sep 112% '0 1st consul guar 7s 1915 J-ll IMS 140 Oct 1 136% 140% Begistered 1951 A ].s< Registered 1915 J-l) 140 on '98 Bellev&Car 6s. ...1923 12 1 May'pl 1 24 124 N Y Lack AW Ist6s...l921 J-J 135 Je. l35%Oct '01 L'3S%i36ii L><£ Shaw 1st g ts.,.1932 I'i ::::: 90 "• 1-js '"I 120" Y-K<''i Construction 6s 1923 K-A 119%J'ly'01 1 18% 119% Chic 91 L A- N o j: n 129 Ocl Term A Improve 4s 1923 M-N ill**! 104% Sep 'oi Ki4 1 il04% Registered 1951 D 124 Sep '01 123% Syr Ring A NY 1st 7s..l906 A-O U 5 '-. 117% Ma} '01 117% 117% Gold 8%8 19.-.1 D 99 101% Ocl 'oi 101', Warren 1st ref gUg3%S.2OO0 K-A Registered 195] I) Del A Hud 1st Pa Div 78.1917 M-S L47%May'01 JIT i._. Meuiph Div 1st g 4s, .. 1951 D. 100% 109 10.; oct 'Ul i'o'e" ii"*** Begistered 1917 M-S 149 Aug'01 149 160 Begistered 1951. D Alb A Sus 1st con gn 78.1906 A-O 113% 116 Oct in 110 117 StLSoti 1st gu g4s.... 19311 S 104 107 Not 00 Registered 1906 A-O 122 J'ne'99 Ind B1& West SeeCCC&SI I. '01 107 Guar gold 6s 1906 A-O iio^ Sale 110% 110»4 ll(i%lll% Ind Dec. & W 1 st g 5s 1935 J 106 105% Oct 105 93." Registered 1906 A-O L12 J'ne'01 112 112% 1st guar gold 5s 1 J .. Kens A Saratoga 1st 7s. 1921 M-N 152 Ocl 'oi L50% 1531-. Cnd IN & la 1st g 4s 1950 .1 997. 99% Ocl (il 99 , 99% 1 '-'.". '01 . . . Registered 1921 M-N 151 Jan 151 151 Int & Great Nor 1st g 6s.. 1919 M "a \.,v'ol . 1 2 t 1 28 Del Kiv KH Bridge See Pa KM 2d gold 5s 1909 M 100% 100% 19 96 103 - so .... Deuv A R Grist con g 4s. 1936 J-J 103 Sale L03 103*4 LOO 104 '.. 3d gold 48 1921 M _ 75 Aug'01 1 .i 1 1151.1 lib Consol gold 4%s 1936 J-J ins''., 1 1 1 108 111 Iowa Central 1st gold 5s. .1938 J-l) 116 ! 117% 117% 1 nvprovement gold 5s. ..1928 J-B 112^2 113% 1131 107 113% Jefferson RR Nee Eric Rio Gr So gu See Rio Gr So KalA A GR See L S

Erie 1st ext gold 4s 194 M-N 119 118% Jan '01 118% 119% Registered 1940 108% . 108 108% til 2dextgold5s 1919 M-S 118 120%Apr'01 120-8 121 Leh V Ter Ry 1st gu g 5s. 1941 108% U8%0 111% 118% 3d ext gold 4%s 1923 M-S 113 111 J'ly'01 111 118 Registered 1941 109% Ocl '99 3 4th ext gold 5s 1920 A-O 118^ 122 123 4,Mar'01 123% 124 Leh V Coal Co 1st gu g 5s. 1 933 109 J'ne'01 109 109 5th ext gold 4s 1928 J-D 107^ 108 108 ;l(»7 los Registered 1933 1st consol gold 7s 1920 M-S 140 14 142'i 140% 140% 139 143% Leh A N Y 1st guar g4s.. 194." 9b%J'io'01 95 100 1st consol g fund 7s 1920 M-S 185%May'01 135% 1351 Registered 1945 Erie 1st con g 4s prior. .1996 J-J 99 »2 Sale 99 99% 26 95% 1011, El C & N 1st g 1st pf 6s. 1914 Registered 1996 J-J 99 An-'Ol 99 99 Gold guar 5s 1914 101 H. Sep '99 ; 1st consol gen lien g 4s. . 1996 J-J 8S- h Sale 87% 88% 265 82% 91 Leh & Hud R See Cent of N J Registered 1996 J-J Leh & Wilkesb See Cent of N .1 Penn coll tr g 4s 195J F-A "9i""9ih 94 94% 80 92 1" 9t;i- Leroy A Caney Val See Mo P 1 Butt'N Y& Erielst7s..l916 J-D 136% Oct '01 136% 136 ! Long Dock See Erie Butt'&S W gold 6s 1908 J-J Long Island 1st con g 5s. h 1931 121% 121 J'ly'01 121 123 Chic & Erie 1st gold 5s.. 1982 M-N 121 34 123% Oct 01 116 123% 1st consol gold 4s 711931 100 ...

Jeff RR 1st gu g 5s. . . .al909 A-O 105% 107 Sep '01 105 108 General gold 4s 1938 102% 102% 102% 100 105 Long Dock consol g 6s. .1936 A-O 134 "2 137%Aug'01 137 140 Ferry gold 4%s 1922 105 .I'ne'Ol 102% 105 Coal & RR 1st cur gu 6s.l922 M-N 112 Gold is 1932 100 Oct do Bock A Imp 1st cur 6s. .1913 J-J 118 118%Aug'01 118% 121 Unified gold 4s 1949 99 '8 Sale 99% 97 101 N Y A Green L gu g 5s. 1946 M-N 112^ 109 Oct*98 Debenture gold os 1934 107% 95 Feb 01 95 95 Mid RR of N J 1st g 68.1910 A-O 115^1171, L15%Oct 'OI 115 118% BklynA Mont lstg 6s. .1911 N Y Sus & W 1st rei 5s. 1937 J-J 117iall8% 118 Oct oi 111 119 1st 5s 1911 lOlti.. .I'ne'Ol 109% 110 2d gold 4%s 1937 F-A 99 105 94 Pen oi 94 94 N Y JJ A M B 1 St con g5s 1935 109 107 .'an '99 General His in.- 1 Mil! gold 5s 1940 P-A 109 L08% , 108% NY" A R B 1st g5s 1927 110 114 105 May'00 Terminal 1st gold 5s... 19411 M-N 115J.J.... 115%N'ot'01 115% 115% Nor ShB 1st con g gu 5s o L932 113 Dee '1)0 194. 126**122% (let '01 Regis $5,000 each... M-N Louisv A Nashv gen g 68.1930 119 , 112 120% Wilk A Ea lstgn.g5s.1942 J-D 110-2. 110 Oct ol 107% 111 Jo Gold 5s io;;: 112% 114 Sep'03 Ul 114% Erie A Pitts See Penn Co Unilicd sold 4s 1940 102 Salt 101% 102 30 iid^ 104% Eureka Springs 1st g (Is. .1933 F-A 65 Nov'97 Registered 19 10 J '01 Evansville A Teire Haute Coll trust gold 5s 1931 112 1 U4%Ocl 110% 114% 1st consol 6s... 1921 J-J 123 V 12.-. 123 OCl 'ol 123 126 Coll trust 5-20 g 48.1903-191 99 :><>_ 99% 99% 99 102 3 _".i lstgeneral gold 5s 1942 A-O .j Sale 107 Cecilian 7s 11107 Ik .on 108 108% 109 i 111 Branch L06 Mt Vernon 1st gold 6a.. 1923 A-O 112 EH A Nash 1st g 68....1919 116 Apr'01 116 116 Still Co Branch 1st g Bs.1930 A-O 100 LCiu A Lex gold 4%s... 1931 110% 103 Jan '98 30" Ev & Ind 1st con gu g 6s. . 1926 J-J 114 Aug'01 108 114 NOAM 1st «old 68....1930 130 J'ly'01 i 130% MISCELLANEOUS BONDS—Continued on Next Page. (;us and Electric Light Gas and Electric Light ChGL&CCo SeePGACCo Newark Cons (.as con L' 5s 1948 J-D Columbus Gas 1st g 5s 1932 J-J N Y'G EL H A P g 5S...1948 J-D 114 115 115 115 2 108%116 Conniiy&L See Street Kv Purchase money g 4s.. .1949 F-A 97 97% 97 97% 20 "l ;!s 9S% Con Gas Co Sec P U A C Co Ed El 111 1st conv g 5S..1910 M-S 106% l06%Oct*03 105 109% Detroit City Gas g 5s 1923 J-J "7 Sale 96% 91 103 1st consol gold5s 1995 J- J 120 121%Apr'01 .... 121 121% Det Gas Co con 1st g 5s. ..1918 F-A 105 L05 on '01 102 106 N YAQK1 LAP 1st eon g 5S1930 \'-.\ 103% 102 '•.I'ne'Ol .... 102% 104% EdElIllBkn See's. Co E LA P Paterson A P G A E g 58.1949 M-S EdEIll SeeNYG&ELH A P Peo Gas & C 1st gu g 6s.. 1904 M-N 107 J'ly'00 Eq G LN Y'lst con e 5s..l9'32 MS 11S%120 118% Oct '01 118%118% 2d guar gold 6s 1904 J-D 102%J'ne'0) 102% 104%

1 Kq G A Fuel See P G A C Co 1st con gold 6s 1943 A-o 12 I - .I'ne'Ol 120 126 '01 Gas& ElecBergCoc g 5s. 1949 J-D 70 61% Oct 61% 102% Hi funding gold 5s 194 , M-S 106 Dec'98 GrRapGLCo let g 5s.. .1915 F-A 107% Dec '00 ChG-L&CkelBtgug5s 1937 J-J 108% 111 111 111 108 111 EC Mo Gas Co 1st g 5s... 1922 A-O Con G CoofCh 1st gu g5s.'36 J-D 1(17 1((- .I'ne'Ol 104% 110 Kings Co El LA Pg6s...l937 A-O Eq G A F Ch 1st gu g 68.1905 J - J 104 lo-l Ocl '01 102 104% Purchase money 6s 1997 A-O 121% 126 124% Nov'Ol .... 124 126% Mil Fuel Gas 1st gn g 5s. 1947 M-N .104 L05% Oct '01 . 102 106 EdElIlBknl8tcong4sl939 J-J 97 100 96 Oct '01 ... 96 96 Trenton G A El 1st g5s..l949 M-S 109 FeD'Ol. 109 109

I^cGasLofStLlstg5s.el919,Q-Fj 109 Sale 108% 109 ] 1 lo7 110 Utica E L A P lstsf g 5s. 1950 J-.l Mut Fuel v Gas Co See Peep Gas Western Gas Co col tr g 5s 1933 M-N ! ib7%Jan 0l|; i'0'7% iof% * price No Friday; latest bid and asked this -jreek. a Due Jan d Due Apr e Due May hDueJ'ly A; Due Aug Due Oct g Due Dec * Option sale . j i " . V . — 5 .

November 9, 1901. Bond JieCOfd- Continued—Page 8 999

BONOS ii . BOND*

N. Y. stock BSXi .i INGE Pi iday . STOCK Week Ending Nov. 8 -.4, Lomsv A Nash U,U J .1

.s I Pensacola Di . NI M.'li A Mil ill . I 11. .Si I. Div 1st . . I'.l-Jl IVI S Jan

2d gold 3s ti/l s \ .1 Jon.' 1: -11 Lai . II. D s Ki Kent uck .1 J 100 Ocl 01

.1 Mil HI i I'-'lo i A M..nt I a \ A MA M Lstj s 114 Hi 12 - l I 111 \\ . -1 n i la A A Shu s : . A Mil r a LIS

1 11. , • I A 111", L5 HI S A \ I L910 A .1946 M s 100 Mai 01 .... i ll'« I, N \ a & I.

'i A I .J . Coal >. , L8«S US Mai in:; ..ns,,i is 101 L03 10 K 1 A A 1. II anhattan Rj i L990 AO L03 Registered L990 A .. 105' .1 '03 M< tropol El 1st K i''- 1908 J iif.v UC Oct Pitts McK & Ylsl M.m - vY Coloui J D Mcli'pi .v r. V Si \ i Cenl Mi N I. Ill 1st .'..II 101 Metropolitan : a l;v ..11-..1 in i •nil consul gold Is ll'l 1 J J lsi . Sa 29 '-, 116 1 >i oonsol lii .11, -j,,' -Jul.. l:,n 2(1 oonsol lueonii u 3m 'i i 939 .I'ly L9>a 20 L3 .' .1 1 1 L98] Equip a < "11 9 1 7 A \ I in 110 110 2d . ...1919 O

'.Id , M. \ l uterual lsi eon u' Is L977 M S 3 91

2d me 6s a cp ^-i uipd.Ji L917 M-s Sale 96 96 '.'.s'l N 1 A ll.nl. 1 * ' .. o: 2d income gold 6s h ..A191' \nii ai>-2 32 "s t Registi red 2000

.1 - 'i . 123 121 105 I io_7 , 1st gold Us ..1910 D N a North

1 Mich Cent S< » N Y i it \\a u.on lsi exl 25 Mid of N J Oswe a H 2d

- ' i ic Mil i a . e HK'A N \\ BW

I in . .Mil A Mad Se< < liii a N W in. ag4s.l922 107 Mil a North See < 'li M a si P \ S 1 Hiie a st I, 1m 107 Mil a -I A SI P istered .107 o L07

i.ol i Minn A- St I. 1st gold if J-D 147)., K. 17'. n ^ & ni eenw Lake Si towa Ex lsi gold 7s .... 1909 J-D L20 11 '.i ] L19 122'- n v a liar See N Y r a Hud \|.l'01 Pacific Ex is . L92] A L25 I'j:;'-. N v Lack a w See D Lift w

_* ( '-j 1 1 I -. i South West Ex 1st g 7s. 1910 ID 122 1 'J-J N Y 1. 1; a- W Si e ll'.i', :, l -i oonsol gold 5s M-N 121 i. 1213, x Y a Long Br See Ci m ol N'.i 1st and refund gold Is. .19 L9 M s ll'^'s sale- 103 103 Hi 10 07 105 N y a \ & See s v x 11 a 11 Minn A st 1. gu Sei B C R<8 N N V N II A Hill 1st I. : Is L903 L02 i 1 02 MA P 1st Ssstpd Is, :ii gu 1936 J-J Convert deb ci 00 203 Sale ,. , si 20'." Is' 01 certs 1 nil . MSSM a A g | iiu gu L926 J-J 99 98 10312 Small . : Iv'i'i M st pa ss U ..mi Li linl J-J 95 98 Apr'01 98 98 Rousatonic 1; con g 5s 1> Minn In See st M AM N II A Derb\ 1 I IS Mo K:in A Tex 1st g Is.. .1990 J-D lOlllo Sale 100 32 lOOia NY A X K Let 7s. L905 1)1 .; 2d gold is 1 in 7.7 1st 6s 1905 - Ill) 3 in:' '.'7 lsi ext gold 5s M-N lo;^i 101 4 Wih L06 N Y

A- i '. Kim (' Pac 1st g Is.. .1990 i-'-A iv'oi 4 A 1: 1; Si • Long [aland TeiioA- Neosho 1st 7s.. .1903 J-D Erie Mo w a E lsi gug5s 1012 A-O 107 '-j 110 Oct '111 107 11 1 x Y Tex a .M See So Pac Co ' 111'.. 'il 1st lln'-j I ly'lll 110', Missouri Pacific 3a7s L90C M-N 116 Ocl Ml 117 Xi.r.t south g 5a mi 1 1st oonsol gold 6s 1920 M-N L22 12'j'i L23 L25=s Xort A w.si gen g6s 1931

V no' ' '01 ... I 1.2 131 id 12 Trust gold 5s stamped.. M-S 100 h Sale 10,Vi 105 ,109 Improvem' t A . \I g6s.. L93 I Registered aioi \l s New River lsi g 6a L9S2 L32 3 '.' 1 106s ll'2' 102*8 10 1st coll gold os 1920 A 4 . 106 4 Nov'01 103 110 N &\Y Ry 1st con g l> L996 '.i7 : Registered 1920 K-A I;, lis!, red v ; 89Jo(),t '.'.'.'.'. Cent Br Rv 1st gn g 48.1919 FA "So"! 01 89 12 90^ Lsi i-'ii u- 5s 1922 iof" ' LerovA- i'V\ r. Lsi g5s L92C J-J 100 M 100 inn oVAN Blstgu g4a L989 101 101 inPi 99 104 PacK of Mo 1st ex g ls.1938 1-A 107 108 107 1 105 107 North Illinois See Chi a. X AY 2d extended gold 58.. .1938 J-J 115 ' 113 115 North Ohio See L Erie Ai \V St L I rM A- Sgencon g6sl931 i'l7" Sale IHP4 117 -in 111 110 Northern Pacific

1161-2.1 104'- ; loo Gen con stamp gtd g 5s 1931 I 10'vi Prior Lien it & lgr g 4a "92" 7 Unified & ret gold -is.. 1929 Sale 91 9 i'2'4 302 sl'i Registered 1997 lni . Sale 104% IV 105' 72', istered 1929 "98" General 10 u gold 3s «20 17 Verdi V i A; \v Lsi - 58.1926 gistered a2047 70 i) Miss Riv Bridge .svcCIuca Alt C BA- Qcolltr Is : Mob A.- Birm prior lien ;r5.s int.". J-J HO'-iJ'ly'OO St L'aul-Diil Div g 4s.. 99 'i J'ly '01 9934 102

Mortgage gold 48 1945 J-J Etegistered ; v, Mob Jack & K C Lsi g5 J-D 81 I' a x P gen g6s... I29i 131 • Mob . gold 6s. .192' J-D 130^132 131 Nov'01 1271-2 132 Registered ceri ifio's.. 1923 132 .) 1st extension gold 68..A1921 Q-J 125 125 121 L30 st Paul<6 Dul 1st 5s.. ..1931

7 i General gold is M-S '.i.Vi 0.1 '01 s7'^ 96 g 2.1 58 1917 lei '01 -117 1 1 si Montgoni Div 1st g 58. .19 IT FA 111 ,.Sale 1141, 10 1 oonsol gold 4s lor.s 106 J'ly'01 St L& Cairo go g U....1931 J-J 100 99 Oct '01 99 101 Wash cent 1st g4s L948 89 ilay'00 Collateral g 4s el930 Nor Pac TerCo 1st g6s..l933 117 117 1 115V.119 Mohawk & Mai SeeN \ • Nor Ry cm See So Pac Monongahela Riv See B & O Nor wis svt-si I- \i a ii Mont Cent -See St P M A. M Nor

• i , La A T See s P Co OInd A \v s,, < , \Y 111. 12 112V Morris A: Essex See Del L A River I

128T • I "I'.il I Chat A StLlst7s.l91 J-J 8 128U 128'e 126!2l30 gold 5 . '.'37 104 05 Ni 1 ... L928 A-o 114 ^ 113 113 111 116 Ore & c,ii See So P it Branch 1st g6s.. L923 J-.l 113 Ore By A Nav See in Pac .1 M YV& Al 1st 6s.. 1917 J-J il'3'2 Ore P.P. A Nav See I'n Pao 1st ... T& P Branch 68....1917 J-J 111 Dec '99 n Line Si eVn I Nnsii Fl..r A. Shef See L A N Rome See x Y C New H

N ST Cenl & H H Ist7s...l903 J-J 105*4 10534 Oct '01 104V His J i*13'a8aie . lercd L903 J-J LOS 106 Sep'01 L06 Registered pi-ji .f J 112 - >2 mot 1 'ni 1 Hi'', i. i, Gold 1997 J-J 108 110'j ni uar UVscoll i 1937 M S •! in J-J 109 "a C st I, a P 1st con g :.s. 1932 A O '119 : 1211-1 - of.. .188 MS iir,i" in! Sep'01 mi Registered i: o - 1 'ere, l ] g iu:; -, .1 MS Sale 10310 in:;'. in; 100^4 Cl A P gen tru g I "as ser A. '42 J 122 i> 58of...1 389-1904 MS Series H i o 121 Deoi ntnre is.... lsi'" 101'-^ " Seri. '"- g J-D 1.1 )C3 i N stered 18! J-D 102',.Inn 'ill ln-j', ui'_", 1'

1 Debt cei M-X ibo" 101 10] '..Oct, '111 i a g3>2S B.1940 J J -lere.l 190, Series MX C : J Lai. >Ug3>a8...1998 FA 07 Sale 07 97 95 XA-c Bdgi 1045 J- J Registered. 1998 FA 96 96^ P C C A 81 1. . Cent coll 95" '": s • Mich s3Vs... I Si FA 94'oOci A 1 111 o 1 11 .' Registered 1998 FA ilar'iH 96 97 Series R guar 194 a 1 115 Beech Creek lstgug4s J-J I ! 112 115 lll'i Sep 'ni 111 ! N .1 J-J li s 1 L936 100 J'ne'98 1 w guar 19 i". M N """iblis 2d gu gold 5a J-J il7" uar g....l949 F- A Cart A Ad 1st gu 4s... 1981 J-D Pitts g Ft YV ,V; 181 7s. . J 133 Clearfield IJiuiin Coal i 2'17s 1912 -I J 1st 8 lint sir gug 4s A 1040 J-J 95 J'ly '98 3d 7s /, p 129 pr'O] MISCEIXiANEOUS BONDS—Continued on Next Pace

Telegraph and Telephone t'oal iiu.l Iron Am Telep & Tel coll rr 4s 1929 J-J Ool Fuel Co gen gold 6s. ..1919 M-X 103 V Cable Co 1st is.. 230 ..1 Comru 1001.. 1 g Q.J May'01 100 "-2 102 a 1 Co gen s t g 5a FA 102 102 Registered I s,. , 239 1001-2 Oct 'OH T ,v 1

Erit ct T col tr f 5s.. 1020 . T g a h 109 Oct '99 Gr Piv Coal A L919 \ " 106V Is MetT.fcTlst sf g5a 10 MX .1. it A ci. arc I 1st 107 » T A g 5s. 1926 J-D Mill l n Tel CO Set Wcstn In 2d gold 5s L926 J-D N Y

Col C A 1 ext 1 st con 6s . 1 002 FA V Allier Pi. \ el. s I .1. g 101 Sep'01 . 101 104 Inn 58 I 1 Col C A Dev Co sru g 5s. 000 J-J Xov'iin Am Cot Oil exl I ,s 101 99 102 * No price Friday; latest bid and asked this week, n Dm Jan eDueMay fiiDueJ'ne A,DueJ'ly p Due Nov g Option* — J v 1 41 J

1000 Bond Record—Concluded—Page 4 [Vol. LXXIII.

BONDS JtO\l» Price la Jlnnae Price UrCk't Jiant/e N. Y. STOCK EXCHANGE gt or Jo Since N. Y. STOCK EXCHANGE SVirlrn/ Jlanye or Sir Sale January 1 Last Sale (inn \\ i;i K BNDnra NOV. 8 « Mov.8 Latt Wkkk Ending Nov. H Xov. 8 W Q J

. T Hid Auk Biah .No Low Jliyh Southern Pac Co—f Contin hid Ask l.mn Jlii/h Ao L010 Jlmli. '18 iPcnn RK 1st ronl est g48.1023 M N 109% 112 108 Gila V G

i • GilU I ox retro i as L941 .1 J ill's. 112 Jan '01 112 112% 1st gold 6s 1920, J-J 123 Aug'01 i Sun tt Lewis 1st g 4a.. .1986 J.J 107 . NYT.v Mex gulst g 48.1912 A-O V X 3 BE & Can gen 48.1944 M-b 110%. i'1'7" M "»>•"' 00 No of Cal 1st gu K0a 1907 J. lll l4 '01 tPensacola eo& Tck Un let gOa.... 1921 133% Jan '01 133%133% S A & A Pass 1 st gu g 48.1943 J J s7% Sale 87 8H ;r 91% '00 ' 2d gold4%s 61921 101 Oct SoPof Argil 1st g0scl909- Hi J-J 1 12% 111%S 1 Kl'.2ll4% IPercMarq— K.fe P M g6a.l92U 124 127 Feb '01 126 127 SPof Callstg6s 1905 A-O 106»« 107% lo7 ln7 107 111% 1st consol gold 5a 1939 112 112 J'ne'01 108 114% 1st g 6s scries B 1906 A-O 106% 111 Npr'01 Kir.v Pt Huron Div 1st g 5s. 1939 114% 115 11534 25 109 115% l8tg68 8erie.se

Rich & Meek See Southern ETVa&Ga Div g5s..l930J J-J 119 . 119 11" 2 1 17% 120% 101 10334 11734 1 1 '01 .. Rio Gr West 1st g 4a 1939 100 % 101% 101% 98% Con 1st gold 5s I M-N 9% Oct 117 121 Consol and col trust 4s . 1949 97 96 Aug'01 9314 98% E Ten reor lien g 5s 1938 M-s 113% II334 2 111% 11 6% Utah Cent 1st gu g 4s.al91 92 97 90 Oct 'in 90 90 Registered 1938 Ms Rio Gr June 1st gu g 6s.. .1939 '112 .... 105 Feb'01 105 105 Ga Pac Rvlst g 6s 1922 J-J 127 127-4 Sep '01 124%128 Riogr So 1st gold 4a 1940 83 85 83^ Nov'01 Mi's 85 Knox A Ohio 1st g 6s.. .1925 J-J 126 J'lv '01 124% 129 '01 "95" Guaranteed 1940 93 Oct 92% 94 '4 Mob & Ohio coll trg 4s. .19381 MS 95% 95 95% 21 95 95% Roch & Pitts See 15 R * 1- Registered 1938 M-S Rome Wat 5% Registered 1937 J-J 116 Apr'97 Ore Short Line 1st g6s.. 1922 F-A 127% Sale 127% 127% 125 130 1st guar gold 5s 1937 J-J 122%. 12l%Aug'01 121" i*22' 1st consol g 5s 1946 J-J 119 Sale 118 120 115 121 Registered 1937 J-J Non-cumincA 5s 7(1946 Sep 103% 103% Oct '01 103%106 WU1& S F 1st gold 5s. .1938 J-D i.24%; 120 Apr'99 Utah

Blnniif net 111-ins & Industrial Miscellaneous Am Hide* L 1st sfg6s. .1919 M-S 92% 93% 92 Oct '01 90 98 Adams Excoltrg4s 1948 M-S 104% Sale 104% 104% 103 109 Am Spirits Mfg 1st, g6s.. 1915 M-S 78% Sale 77 78% 16 75 85 Am Dkcfe Imp 5s Sec Cent X .1 Am Thread 1st col tr 4s. ..1919 J-J 90 Bkln Ferry Co 1st con g 5s 194s F-A 82 86% 83% Oct '01 83 91% Bar & S Car Co 1st g 6s. ..1942 J-J 105 Jan '00 Bkln W . Man Bch H & Lgen g 48.-1940 M-N Jnt Paper Co 1st con g 6s. 1918 F-A 108 109 109 Nov'01 105 111 Newp Ne Ship & DD5sdl990 J-J Knickerbocker Ice (Chicago) N Ycfe Ont Land 1st g 6s. .1910 F-A 90 Oct '99 1st gold 5s 1928 A-O 98 93 Ang'00 RRSecur Co 50-yr g3%s.l951 J-J 91% 91% 91% 91% Nat starch Mfg Co 1 st g 6s 1 920 M-N 108 110 Oct '01 107 110 St L Ter Cupples Stat'n & Prop Nat Starch Co s f deb 5s. .1925 J-J 92'<>Sale 92 93 91 96 Colstg4%s 5-20 year.. 1917 J-D Btan Rope&T 1st g 6s. ..1946 F-A 1 52 54 54 46% 72% S Yuba Wat Co con g 6s. .1923 J-J 101 Feb'97 Income gold 5s 1946 .. < 6 6% 6 6% 5% 12 Sp Yal Wat Works 1st 6s. 1906 M-S 113%J'ly'00 S 1-! V LeathCosfdebg6s..l913;M 112 .... 115 Octuci '01ui 113lis 115%lio Vermont Mar.uar 11stst as tf &S...191U5s. ..1910 | No price Friday; latest bid and asked, a Due Jan b Due Feb dDue Apr g Due J'ne A Due J'ly k Due Aug n Due Sep p Due Nov q Due Dec s Option sale . — J —— 1 . . 1

NOTEMBER 9, 1901.] THE CHRONICLE. 1001

Gaa *•«•• -iii-u n-- Industrie! end Hie* • 1

1 1 •.>- stoi 80 ell.. 100 100 at Stock Exchanges 1 ndlanapolla Volume ol Business 1st m N 1. 100 18 ,,.n 1 iaa Co — To 1 loo v 5a N L937 " 1100 I02 TRANSACTIONS AT THE NKW YOKK BTOOK EM HA Kansas City Gas loo jo 15 " DAILY. WEEKLY AND YKAlil.V \ i«M l.ach -tit (..is Set N ^ Stk Exiii 1 LOO Lafay'eUaalst 6s'24.M-M

WaliV lstils'2.". .1 D 47 H, 48 1 1 ! 103

1 . .1010011 Madison W is) 1 .as— llJO 1st 6a 191 \ ' 1 1107 >« 109 Hj il LOO 1 1 > 1 i" . 1 1 '-. J Newark Gaa 6a 1944 Q j J Newai k ( lousol 1 .as 100 58 Com] H is set Stock

osloll I 10 New Eue Gaa A ( Con^' 11 ( I IS I'll li 11. .... I 1 A 1 11.1 on Nat A 1st tis 1926 46 50 4 I • 'ons Tobacm I'nn 'iili Dl 96" 7..1 .1 i> 1 labim 1 St Joseph I Lock. 100

1 1 .. st PaulGaa Gen 5s'44M-8 si'-, 86 Cot bin ' i' a 1 . is 22 11. imps' si, HI' . Syracuse 1 laa stock ,.100 A En ending Nov 8 January 1 to Nov 8 "1st 5s 1946 u 01 96 Diamond Mati list Sates at Week ltni \\ cstetlK.as 5s Set Sl'k Exch list Dominion Securities. 89 New York Stock 1 ie Boat LOO Exchange 1901 1900 1901 1900 Telecr A- Telephone Pr< 1. mil loo 40 88 40 Eli otric \ ehicie LOO 2 4.542,187 230,292,330 97.43 AmerDiatTeleg(NY)100 Slocks—Mn. shares 8,956,906 nt 100 118 115 Preferred 100 $22,949,445,575 $9,414,086,462 liili Tiii-iiL Buffalo Par value *3b8.939.500 $438,649,100 lot; LOO state Soger.. 100 1 Empire $129,475 $lu;;.77;'> !i ntral it So Amer...lOO Bank shares, par.. ChesA PotoTeleph..lOO 72 76 h 1st 6a 1915 J-J I BON lis 6a 190929 J-J 105 h Empire Steel 1 OO B Government bonds $25,100 $202,400 $1,625,070 $5,986,610 Commercial cable 100 184 Preferred 100 88 15.000 2,345,800 1,850,200 115 al 1 .u loo Commer in Tel (N Y) "84" riage \ 85ii.280.000 408,764 (ii in < lienucal 67 BR. anuniis. bonds 22.5"35",200 15.929.600 l.mp ib Bay Stale T< 1 100 78 ial LOO Erie Teleg 60 Telep Bee B osloll list l'ri lernil 100 08 100 1 10 Total bonds $23,660,800 $10,140,900 $860,257,470 $411,651,110 Franklin 100 47 Gorham m tg Co com. loo Gold A Stock 100 120 123 l'r. lined LOO 1 10 1 15 THE BOSTON AND PHILADELPHIA 4HiS, 1905 Havana Commercial. ' 8 Ha DAILY TRANSACTIONS AT 46 5o EXCHANGES Hudson River Teleph 100 113 113 l'r. I. rred 100 International Ocean.100 II ki-.iones-.Jew'l.Mill. pM 55 n hsi -1 -M-S 95 Mexican Telephone See Bosto I Os 1922 Boston I'liilaitilpliin New Eng Telephone Set Boato n Hat Herring. Ilall-Marvinloo Weekending Northwestern Teleg.. .60 122 126 1st preferred 100 30 45 Nov 8 N V J Telephone 1 00 167 2d preferred loo 4 Listed Unlisted Bond Listed Unlisted Jlonil A N iyoi 5s J920 M-N 111 114 Hoboken Land A imploo llo si, a res shares sales shares shares sales PaOiflO & Atlantic 25 78 83 5s L910 M-N 106 Providence Telephone. 50 ) 9 7H International Elevat.loo no 2,369 $24,900 9,316 878 $131,000 Saturday 11,053 1 Southern it A I lantiO.,25 100 103 Internal Pow Co prel l'" 17,088 4,087 05,1011 19.702 4,092 374,400 Monday Tel Telit Cable ol Am. 15 » 6 8 Internal lonal salt oertfs. .. .IIDl. I DAY .... Tuesday " Internet'] silver St Excli lisl 69,700 28,438 ""6,i23 807.376 Wednesday . 22,636 T1.803 Kleclric CoinpHiiies os L948 J-H 96 100 40,10:1 3,115 220,900 Thursday 34,3(59 11,828 78,400 Allegheny Co LlgM t;ol00 L66 170 Iron Steamboat 2 2 7.7G7 139,820, 24,074 5,677 282.S09 Friday 27,509 1 10 Chicago JEdiaof) 1 10... LOO mo John li stetson com. .ion \-^ Edison El in Co Brk N v stock Exch Preferred 100 125 113,255 38,454 377,9201 121,635 19,885 $1,816,279 Total. Electro-Pneum'icTTanlO 1 1"~ i.anston Monotype 20 1 2 Hi 13 x Stock lixih 220 1 leneral Electric Co n Lawyers Mori nisiir.loo Hartford (Ct) Eleo EtlOO 197 Lawyers' surety 100 95 Narragan (Prov) El Co 50 i 92 Lawyers' Title Ins. ..100 356 Outside Securities New Yorkifc Queens Elec Loriilar.l (P) pre! 100 115 120 Liglitife Power Co.. loo 30 32 Madison So Garden. .100 10 For Weekly Jieview of Outside Market See 7th Page Preceding. Preferred 100 69 Hi 71 2d 6a 1919 M-N 65 66 RhoisiEiec ProteoColOO 1 L9 Mix Nat Consume. pllOO 7 7 Hi Storey General Elec. .10 8 12 Monongahela B Coal. .50 13 18 Hi J Street Railways Bid Ask Street Hallways Bid Ask United Electricof M J100 16 IS Preferred 50 45 4 46 KEW YORK CITY Grand Rapids Ry....l00 31 34 4s 1929 69 69 Hi Mosler Safe Co loo LOO

1 20 Bleeck St4 42d& Or St Ferry Btk 100 396 105 Con 5a 1930 A-O 1 Preferred 100 92 92 99s Railroad 42d St M & St M Ave 100 05 70 2d 5s 1933 J-D I'itts Plate class 100 167 169 latmort 6s- 1910... M S 112 114 So Bide El (Chic) stk. 100 108 io9-J4 Chic Peo & St r, pref.100 7Hi Planters' Compress See B OStOll list 2d income bs 1915. .J-J 99 101 Sj raouse Rap J'r 5a 1 946 100 102 Prior lien g4Hss'30M

1 i i-J 903 •. k Second Aven in- atocklOO 2 218 Gen is 1934 8 91 1 lenver & South'n St < S Ex list Preferred 100 202 206 ! 1st mort 6a 1909. .M-K 8106 Hi lo7- j riiuTi'it Eleo (Prov)lOO 109 110 Detroit Southern 100 14Hi 16 Royal Bah Powd pref.100 3 Consol 5s 19-18 E-A ,11!) 120 West.Chicago St 100 95 97 "a Preferred loo 38 4 40 Rubber Gooda Mfg £ ockEx list

I Sixth Avenue .stock. .loo 175 Cong 5s 1936 M-N > is 1951 r-D S5 87 Russell it Erwin 25 62 Sou Boulev 5s 1945. .J-J 1) 1 115 F1 Win il.A Bio Gran. 100 Safety car Heal A l.t 100 135 145 Huh Securities SoFerlst 5s 1919. ..A-O 8108 110 K (.: Ft St.t Mem pi... 1 O'j 77 Simmons Hardw com LOO 161 Hi 166 YOKK 3 Third Avenue See Stock Exch list NKW Refg g Is 1030 i so '4 86 4 Preterred 100 139 142 Tarry W P it M :,± 1928 103 106 cent Union Gaa 1st 5s... ao9 110 Mix Mational (w i) ..100 l.i 14 2d preferred loo 1 10 147

I < >i Slock 5 YkersStKR 5s 1940A-O 108 105 .as N ^ I slock N Exo Preferred (w i) loo 35 "a 36^ Singer Mfg Co 100 230 24 28th Easi River 1 • Si t Stock 1. \i 1 Industrial and IHisccI Sloss-Shettielcl 5s 1 -i Atlan Ave 1909. .A-O ao7 108 1st 5s 1944 A 13 1 16 Standard ( louplei oomlOO 28 5s 1931 \.u 2.' Con g 113 115 Consul 5s 1945 J-J •10s 112 Aberdeen Copper 1 20 25 Preferred loo 117 Impi 5s tsee 1. 1 11 1st 5s 1027. .M-N 111.- 7c Stock Exc Hat NOI llo Acker Mer A: comiit . . .6a 100 StiUw-BierA Sm Yptloo B B

5s , ]•_'.._ Con See Mock Exch list 1st 5s 1930 MM 8116 117 A mer Hank Mote Co... 50 56 Ti 11 n 13 BklnCrosstu 5s 3 > 1908 105 107 Am Bicycle See M Ysik Kxell llNl Ti xas A i . ...KM 75 Bkn Hgtelat5s 1U41 A-u 105 OTHER CITtES American Call com. ..100 19 JO'. 1st 6a L908. ,KM. L10 Bkln Co it 1j St Su See k list 1 Q Excli Preferred loo OS's 66 Hi rule .11.11 a 1 1 usi Bklyn Kap Trail See Slk Kxcli list Amcr Light A Tract. 100 20H 22 American Chicle Co.. lot 82 86 on Pottery com LOO 5 "o'-j Island A; 10(i Coney Bklyn loo 320 330 Preferred loo a;89'j Preferred loo 81 -:: l'i. 1, lieu 69 1st 6s 1903 J-J To 102 103 Baltimore Consolidat See Bait list Amer Craiihophone...lO i'4 5 Trow 1 iiri otory new. .loo Sscrtfsiudbt 1903. .J-J 101 (.as 1 lo ! Hay state 60 •>i 1 Preferred 10 7 H: S ! 6's Brk C & M 5s 1939. J- 113H; iiTHi Binghamton Gaa AinerHideifc Leather 100 5 6 Hi l oion Steel iS Chain. 100 35 SUfcN e\v 1st Gr 5s 06 FA 104 5s 193S .....A-O I 93 96 Preferred loo 27 Preferred 100 411 50 109*" 80 Gr'pt &Lorimer St 1 1st 6s 106 Boston United Gaa bonds Bosto 11 list 6s See Stock Exch list Union Switch* Signal 50 69 70 Kings Co. Elevated I'.n Halo City ( las stocklOO 5 6 Amer Locomotive See Slk Exch list Preferred 90 1st 48 1949 See Slock list Exch 1 st 5s bonds 7 OH; 72 Amer Press Assoo'n.100 60 I n ion 1 ypewr coin.. loo 66 Nassau Elec pret loo 83 86 Chicago Gaa SeeN Ystk Exch list American Screw 100 1st preferred 100 119 123

5s 1944 1 A-O 118 111 Cincinnati Gas <& EleolOO 102 H 1 12 Hj Amer Shipbuilding... 100 33 2d pref< rred 115 118 1st 4s 1951 J-J 97 Hj OS'- Col das 1, ic Heat comlOO SI SS Preferred 100 94 9 7 : pon Pipe.. .100 6 6 Hi NowWb'gifc Fl 1st ex4Hjs 106 108 Preferred 100 103 105 Am Soda Bonn com.. 100 3 6 100 30 .11 Hi Stein way 1st Oa J -J 1922. 5119H 121 1st 6s 1932 J J 8106*9 107 Hi 1st preferred LOO 56 66 otton Huck 26 OTHER CITIES Consul Uus (N J) stk. 100 12 14 2d preferred 100 11 15 I'ri lerred 89 91 1st 6s 1936 J-J 78>a BO American surely 50 175 190 I - Buftalo Street Ky— Cousum Gas (J City) Amer Strawboard LOO l'i> fei red loc 67 1st consol 5s 1031.. Fa lis 8116^ 1st 6a 1904 .M-N U03 104 Bonds 6s 1 A common. 38 Deb Os 1917 u A U05 107 1 letroit City Gaa 50 Am Typefo'ra stock.. LOO 50 l'ri -ti rred 140 145 Chicago City Kl( stk. loo 3 200 Detroit Gas See M Y Stk Exch list" Amer woolen See E Exch I is l lA-HenniuglOO 34 « Chic Union True com. 100 13 Hi Essex & Hudson CaslOO 31 33 Amer Writing Paper.100 1 Pri 11 rred 100 69 Preferred loo 60 H; 52 Fort Wayne (Inil)— Preferred 100 8 11 B5 90Hi Cleveland City 100 By 1st 6s 1926 J-J 48 51 6s 1919 J-J r 8 St< el 1 01 poreUon >, Stock Kxch Cleve City 1st 5s 1909. J-J Grand Rapids Gas Anthracite Coal 100 60 70 Univeraal ..loo 10 18 Cleveland Electr Ky.lOO 84»4 86 1st 5s 1915 F-A ilOlH: 105 Hi Barney & Sm Car 100 20 Preferred 100 35 60 Con 5s M-ss 1913 Hartford (Ct) L...25 t 48 60 \ a Coal Iron it Coke. loo 7 "45" "48" Gas Preferred loo 120 123 7H» Columbus (O) St Ky..l00 Hudson Co Gas 100 28 30 Bliss Company com 50 180 140 6a 1919 M-s 49 Hi 61 Preferred loo 100 103 6sgl949 101 102 Preferred Weetingh Air Brake. .60 (170 175 Colum 60 L36 Ry con 5s See Pli ila list Indiana Nat

i Buyer pays accrued interest. t Price per snare. ' . J.

1002 THE CHRONICLE. (Vol. LXXIII.

Boston, Philadelphia and Baltimore Stock Exchanges -A Dailv and Yearly Record. UT Share Prices— Not Per Centura Prices. Bale* ACTIVE STOCKS. of the Range of Sales in 1901. Mature! ay, Monday, Tuesday, Wednesday Thursday, Friday, Week. Tf Indloates unlisted. Nor. 2. Nov. 4. Nov. 5. Nov. 6. Nov. 7. Nov. 8. Shares Lowest. Highest Kallroad MioeUs. •368 267 368* 886* 307 357 •867 858 Boston Al 357* 367* A ban y ( Boiton ) .... 1 00 40 251 Jan. 3 365 Apr. 18 •167 188 167* 167* 167 167* 167 167 168 l«f* Boiton Elevated, f nil paid.. " ....10C 332 160* Jan. 16 190 •244 July 17 844 341 845 845 344 845 345 Boiton * Lowell " ....100 81 288 July 3 248 Apr. 98 •102 108 192* 198 108 109 102 192* 193* 1*8% BoitonAMalne " ....10C 90 100 May 15 aoo Apr. 84 1SH •164 .66 166 1 6 7 156 160 158* K0* Ohio. Jnno. 4 Un. Stock Yds. " ....10C 880 14 ;* Jan. 21 163 June 19 133 132 183 •181 182 133 183 182 133 Preferred " 100 130 126 Jan. 1 185 Apr. 8 6S 08 68* 69 68* 68* 68* »e% 68% 71* Choo. Okla. * Q. trust oerti. (Phila.'.... 5( 6.967 87* Jan. 89 75 May 16 S3 63 64 64 54 •68* 64 83% 54* Preferred Tr. certfi " 50 1,840 45 Feb. 80 59* May 16 •144* 146 144 144* 144 144 144 •144 144* Fltohbarg, pref (Boiton). ...100 108 139 Jan. 10 148 Apr. 88 84% 34* 84* 34% 34* 34* 36% 34* 35 Lehigh Valley 3.621 Hi* (Phila.) .... 50 2b* Jan. 4 3«* May 1 86* 37% 37% 37% 86* 37% 87 37 •36* 37 Maaiaohatetti HIeot. Cos. l.(Bo«ton)....100 2.861 24 Jan. 20 45 July 1 04% 94% 94* 04* 04 94* 04 04 04 94 Preferred 1 •• ....100 734 77* Jan. 17 08 June 11 •21 •ai* 22* •ai% 29* 31* 21* 21% a % 23 Mexican Central " 100 100 18* Jan. 20 30% May I •09 100 100 •100 Northern Central , (Bait.) .... 50 28 88* Jan. 10 100 June 18 •307 •807 •806* ... •307 •807 808 Old Colony (Boiton)...,100 205 Jan. i 313* Apr. 19 74% 74% *72% 7394 72* "78* 72* 78* 73 76% Pennsylvania (Phila.).... 50 8,778 69 May 81 Apr. 36 31 It- 1« % b 21* <3 1-10 Reading Company " .... 50 38,987 1 2* Jan. 4 34 l-l6June4 88%* 13-16 3H% a lit 8g% 38* 38* 88* »8* preferred , " .... 50 8.800 32 8-18Jan.35 40* June 17 87 27 1-18 *7% 27* 27* 27* 27* 27 916 27* 87* 2d preferred " .... 50 12,975 19 Jan. 4 30 7-l6May 1 36% 80 38 38* *•% 88* 87 87* 37* 27* Seaboard Air Line (Bait.) ....100 5,145 0* Jan. 31 30* June 81 40% 90 60 C0% 60* 50* 51* 51* 51* 51* Preferred " ....100 5,795 24* Jan. 81 54* Sept. 80 101% 108% 102* 103* 105* 108 107* lOf* 116% 108 Onion Paolflo (Boiton ).... 100 22,408 78* Jan. 4 188* May I 80% 80* 8B* He* 0Q 90 89* 90* 90 90* Preferred...., " ....100 184 83 Jan. 4 00 87i* May 1 88 88 •37* 88 87* 27* a7* 27% 28* Union Traotlon, $17* paid. (Phlla.).... 50 2,526 24* June 10 37 Jan, 9 18* I6*i le% ic% 16* 15* a 15* 16% K* 16* United Ry A Bleo. Oo (Bait.) .... 60 6,331 15 Oct. 10 18* Mar. 89 94* 94* 04* 94* r1 04* 94* •04* 96* 94* 04% Weit Hnd Street (Boiton).... 50 106 02* Jan. 8 t9 Apr. 88 H Miscellaneous Stocks. 8« 86 88% 88* Q 84* 88% 85* 87% 85* 87* Amalgamated Copper! (Boiton ) 100 15,018 88*Oot- 129* June 18 •33 32% •*2 33* 22* 22* 89 83 28 23 Amer. Agrioul. Chemloal 1.. " .,..100 565 20 Oct. 34% June 13 81% 81* 81 8!* o 81* 81* 81* 81* 81* 88 Preferred H " ....100 315 80 Jan. 91 June 18 % 54 % % M Amertoan Alkali (Phlla.).... 50 800 *July 3% Jan. 19 Preferred, 810 paid , " .... 50 * Apr. % Mar. 4 118* 118* 117* 117* 116* U7* 117 118* 117»« 118* American Sugar Refining 1. (Boiton).... 100 5,! 36 Hi* Oot. 158% June 8 > 1 116% 116% ne lie* 116* H«* 116* 16* 18* 118* Preferred! , " ....100 447 113* Oct. 180 July 19 168 158* 157 188 166* 167 156* 158 157 157* Amer. Telephone A Tel. Co.. " ....100 1,001 151 Jan. 183 May 88 660 660 •660 660 655 660 650 655 650 660 Calumet A Heola " .... 25 181 880 Oct. 860 Mar. 6 ae% 85* 36* 25% 25* 25* 86 £6* 36* 26* Camb.Steel, 818* paid rects.(Phlla.) .... 50 9,817 15* Mar. 31% June 11 16* 16* 16* 16* 18 18* 16 17 16* 18* Centennial Mining (Boston) .... 25 1,386 16* Oct. 34* May 9 62% 68* 81* 63* •82 63* 62* 62* 6H* 63* Consolidated Gas (Bait.) ....100 1,072 58 Jan. 65* July 10 24*9 34* 2<* 84* 83* 24 2t* 84 22* 24 Consol. Lake Superior (Phila.) ....100 3,550 22* N v. 38* Apr. 19 ' 61-* - •88 8S* 68% 68* 88 68 68 8-* 88* Preferred , , ..,.100 845 40 Feb. 76 Aug. 3 48* 48* 48 49 •47* 48* 47 47% 47 47* Dominion Coal ,.,.,,. (Boiton)... .100 1,830 32 May 50 Oct. 15 88 83 81 82* 21 22 81 22 21 31* Brie Telephone. ;, " ,...100 1,484 80 Oct. 99 Jan. 8 •73 •••• •••• 78* Lehigh Coal A Navigation. . . (Phlla.) .... 50 62* Jan. 79* Apr. 18 4% 4* 4* 4* Manden Col " .,.,100 1,770 4* Oct. 7* Jan. 3 "s* ""s* a* 8 8* 3* 5* 8 3* National Asphalt 1 " .... 60 3,693 2* Wot. 8* Feb. 18 e% I* 6* 6* t* 8* 7 Preferred! " .... 50 2,406 5* Nov. 16 Feb, 18 •90 03 •91* 98 •91* 93 01 New Stag. 1 •92* •91* 03 Cotton Yarn, pref . (Boiton .... 100 90 Feb. 99 Jan. 3 182* 133* 132* .... 182* 132 183 132* 133* New Engl and Telephone .... " ....100 85 127* Jan. 146 Apr. 13 28* 87 "80* 2f% 34* 26 85* 25* 33* 86 Old Dominion Copper T " ... 25 4,851 24* Oct. 38* Mar. 8 5 6* 6 6% 5 5* 5* 5* 6* 6* Philadelphia Bleo. T 5pald.. (Phlla.), 8,499 4* July 8* Feb. 13 86 86* 25 25* 25* 85* 25 36* a 5* 37 Trinity Mining (Boiton).... 25 3,487 24* Oct. 41 June 28 113 113* 118 113* US IISI9 11s* 11<* 115*118* United Gas Improvements. (Phlla.).... 50 4,048 113 Sept. 13 128* Jan. 8 48 48 •48 49* 43 42* 42* 42* 42* 42* United Shoe Machinery (Boiton)..., 85 1,101 30* Feb. 4 44 Sept. 5 87% 87* 27* 27* 37* 27* 27* 27* 37* 37* Preferred.,... " .... 25 307 23* Jan. 4 30 Sept. 9 13 18 13 13 13 18 •12 13 •12 IS United Statei Oil " .... 25 150 10* July 8 17 Mar. 30 •47 49 WelibachCo (Phlla.) ....100 40 Jan. 18 55 Apr. 18 •70 73 .... 73 ...... 78 •89* 70* Weitlngh. Bleotrio A Mfg. . . (Boiton) .... 60 54 Jan. 1C 75 Aug. 81 .... 78 • 78 •77 78 78 78 Preferred.... ,,,. " 50 20 68 Jan. 4 80* Sept. 17 •Bid and asked prioee no sale was made. a 81 9-16 21 u-ie b 81 11-16 31 13-18 21 13-18 81 16-16 d 38 18-16 38 15 18 INACTIVE STOCKS Bid. Asfc. 8TOCKS-BOND8 Bid. Ask. BONDS Bid. Ask BONDS Bid. Aate. RAILROADS.—Prices Nov. 8 MISCBLL.—Concluded. Boston—Concluded. Baltimore—Conoln'd. Amer.Railwajs(Phil) 50 41* udBrew asitpdlEaltjiOG NewBng oon gen5i'45JAJ Va (State) 3i new.'32JAJ 98 96* All A Charlotte(Balt) 100 155 Pref^ aiit.pd " 100 N E CotYarn Si 1920FAA 1103 10894 Fund debt2-3i. 1 991 JAJ 98 98* B01 A Maine pf.(Boit) 1 00 170 ifirsranthalar . . (Boit) 100 178 170* NBGaiAC let 5s.. 1937 1 51 62 West N C oon 61.1914 JAJ 190 Boiton A Prov. " 100 800 308 fix Telephone " 1C 2 a* New Hr.g Tele 6i.'16 AAO {103 WeitVaCAPlit6g.'llJAJ 115 116* UomAPasium " 100 185 NewEngGi&C 1 4* 4% 6i 1907 AAO {104 WU A Weld 5i.. 1935 JAJ 181 184 Conn Rlyer.... " 100 370 380 NewHavIA S.(Phll) 5 ill* NYANBnglit7i.'05JAJ {110 111 Bonds— Philadelphia OoniolTrPittit(PhU) 50 23* Old Col Mining. (Boit) 35 354 l«tmort6i.. ..1905 JAJ 5107* llllll AlleVyEext7il910AAO 133 PreM " 60 64* Oioeola Mining. " 25 98* 00* Rutland lit 61.. '02 MAN {102* Aiphalt Co 5i tr otfil949 48* 49 46 Palmetto Co.. ..(Phil) 25 Rut-Can lit 4s 1949. JAJ 1101 Atl City lit 5ig..'19 110 •a South A Fla.(Balt)100 36* MAN lit pref " 100 97* 1IIM1 ParrottSU&Cop(Boit) 10 36* Seat Blec 1st 5sl03OFAA 1104 BaUiTerlst5s.l926JAD 98 3d pref " 100 78 PennEleoVeh.(Phll) 50 Torrington lit 5i 1918, 'MMII '••Ml BergABBrewlst6s'21JAJ SPrmant'n Pais(Phll) 50 i.48 Pref " 60 Weit End St 5i. .'02 MAN 102 Cambrialron 61.1917 JAJ ..... | Heetonv MAT" 50 •«•••* Penmyl Salt... " 50 no* 4*1 1914M&8 ChesAD Canl«t5s.'l 6 JA.i ••ess* 68 " Pennsyl Steelt. " .... Deb 4i 1916 MAN ChocAMemlst5il949JAJ 114* 116* Pref 60 "84% • • • " HI* 118 (ndi8treet " 100 f • • I 1 • PrefK 100 Bonds—Baltimore. Choc OkAG gen 5i'19jaJ " ! tattle Sohuylk. 60 I • • • • ?••••» Phlla Co " 50 48% Anacostia A Pot 5s 97 98 Clt'i 8tRy(Ind)con 5i.'33 108* ...«. Atl Maine Central. (Bost) 100 171 !••(•• PlantenCompT(Boit) 100 16 17 ACh 1st 7s.l907 JAJ 116 117 Colum St Ry 1 it oon 5i. ' 3 2 (Phil) 50 61 (iulncy Mining 25 180 162 AtlG-Lightlit5il917J&D 103 ConTracof J lit 5i..'3£ 110*' ktlnebUl ASH. • N tfeiquehon'g V. " 60 Rhode Isl Mln.. 85 3H 4 Atl Coait L otfi 5i . . JAD Del A B Bk 1st 7i.'05 FAA " " Bait Beit 5i. North Penn.... 60 1C8 1 Santa Ysabel G 5 94 1st 1990MAN BaitAA 1st M 5s. '20 M A> " 49* Pere Marqu't«.(Boit)100 89 90 Seattle Bleotrio 100 49* BaltCPailit 5I.1911MAN 109 110 Edison Bleo 5i itk tr ctf 1 112%

A • • t. 101 07 Pref " 100 86 88 ST Qlrnr I >tll 100 10)* Bait Fundg 51.1916 MAN BleoA Peop'i Tr itk tr ctf t 97* Phil Germ A N.(Pbll) 50 • 1 • • • •»•••• Susquel A 81.. (PhU) 5 Bxohange 3*i.l930JAJ 120 138 BlmAWUm lit 6a. '10 JAJ 117 375* Phlla. Traction " 60 et% Tamaraok Mln. (Boit) 25 279 BaltAPlstBsml 1911AAO •••••• • •••1 Inoome 5s... .2862 AAO 107 Byi Co General 1 " ... Tidewater St... (PhU) 10 9 " 1st 6s tunnel 1911.. JAJ Bq 111 Gai-L 1st g 5s. 1028 Rutland pref ..(Boit)100 114 116 Torrington "A"(Bost) 25 27 88 Bal Trao lit 5S.1929MAN 117 119 Hestonv M A F con 5s. '24 United N J (Phil) 100 280 Pref " 87 88 Ext A Imp 6S.10O1M&8 * • • • HA B Top oon 5i.'25 A 40 " UnPowATrani 35 »•••• *»•••* UnCopLAM'g 25 3 NoBaltDlv 5S.1042JAD 181 129 Indianapolis Ry 4I..1033 86% 87* 34* . Weit End pref. (Boit) 60 118* 114 UnElLAPowpf (Bait) 50 33 Conv'rtlble 5il906MAN 100 100* Lehigh Nav 4*i . ' 1 4 Q- 111*

WeitJerA8 8.(Phil) 50 United Fruit (Boit) .100 88 89 Central Ry 61... 1912 JAJ RR4ig 1914 Q- > •••• WestNYAPa. " 50 US Mining.... '• 35 15* 16* Consol 5i.. ..1932 MAN lis" ISO" GenM4*ig,.1024Q- Wis Cent, new. (Boit) 10C 81 21* Utah Mining.. " 4-85 34* 85 Ext A Imp 5s.l932MAS 117 Leh VC'llst5ig.'33JAJ 100* 110 Pref " loo 41 48 Warwick I A 8. (PhU) 10 Chas City Rylst 5s '23JAJ 10 Leh Yal ext 4i. .1948 JAD 130 " ,Z* 92* WorNaihAR. " 100 ISO 140 Weitm rel Coal 50 Chas Ry G A El 5i ' 99 MAS 88 2d 7i 1010 MAS 186* 187* MISCELLANEOUS. Winona Mlnlng(Boit) 8 2)4 CharlCAA ext5a.l909JAJ 115 Coniol 6i...,,1923 JAD 185* Ailouei Mlnlng(Boit) 85 4* 6 Wolverine Mtn. " 25 67 58 3d7i 1910 AAO 105 Annuity 61 JAD 132 Amer.Cement.(Phll) 10 8% Bonds— Boston. CltyASub lst5s.l923JAD 116 117* Nat Aiphalt 61. 1951. JAJ 35 35* BeilTel4i..l90S 106 Am Gold Dredg( Boit) 10 4 6 Am JAJ t 96K 100* CltyASub(Waih)lit5i'48 98* 97 New'kConGai6i'48JAD 107* Amer. LAS.. (Phil) 60 t • • • • 1 AT&8Fgeng4i.'95AAO 103 Co)AGrnvlit5-6.1917JAJ 123 123* Newark Pass oon 5s.l930 US* AmPneumServLtiost) 60 6 7 Adjustment g4i..l905 93 94 ConiolGai 61.. 1010 JAD 113* 114 NYPhUANorlst4s '39JAJ 105 Pref " 60 80 Boiton Term'l 3*i. . 1947 114 116 5i 1039 JAD 113* 114 Inoome 4s. ..1039 MAN 84 '89 Arcadian...... " 3b 5 5* B01 UnGai lit 5i. JAJ i 78 80 Ga AAialitpf 5H045AAO No Penn lit 4i..'36 MAN Arnold Mining. " 26 1* 8 3dM5i 1939 JAJ I 45 60 GaCarANlit5ig.l029JAJ 110* 111 GenM7i 1903JAo 106* Atlantic Min'g. " 85 87 37* BurA Mo Rlv ex'pt 61.JAJ 111© GeorglaPlit5-6i 1922JAJ 187 Penn gen 61 r... 1910 Var 120 Baltic Mining.. " 25 41% 48 Non-exempt 61. '18 JAJ |l07 GaSoAFla lit5i.l045JAJ 118* ii*4* Consol 610.... 1905 Var Both Steel (PhU) 60 Sink fund 4i.. 1010 J&J I100 KnoxvTrao litSi '28AAO 88 90 Consol 5« r. . . .1919 Var Boiton KleoLt. (Boit) 100 • •• »••••• Cent Vt 1st 4i 1920.. Q-F I 83 83* Lake R El litgu5i'42MA8 118 Penn A Md Steel oon 61. 113* (lambrta Iron.. (PhU) 60 47* » ••• e« Ch Bur A Q 41.1922 FAA {101 MaoonANlit 4*1 '0OMA8 Pa A N Y Can 7i..'08 JAD 116* 106" Camb SDrexel reot " .... •••** .••» IOWaDiv 41.1910 AAO Maryland Brewing 61 ... 81 63 Com 5i 1030 AAO 1*09* Oanton Co (Bait) 100 87 90 Chicago Juno 51.1915 J AJ alio 111 MetSt(Waih)lit5i'25FA 115 Com 4i 1039 AAO 95 Central Oil (Boit) 86 8* Ch A No M gu5i.'31MAN {108* 109 New Orl Gas lit 5i...Vsr Penn Steel litBi.'l? MAN •ait

ConMercur gold " 6 194 8 ChiAWMgen5i.'21JAD {108* • I • • • NewpNAOPlit5i'38MAN 105 People* Tr tr certi 4i.'4S 107 Comb Tel A Tel " 100 Curr't Rlv lit 5i.'27 AAO i: 104 Norfolk St lit 5i '44. JAJ 110 Phila Elec gold trust ctfs 100 Daly-West Mln " 20 88* 38* DGRAWllt4i.'46 A&O {100 101 NorthCent4*s.l925AAO 116 Trust oertfs 4s 66 Danv Bessemer (Phil) 1* H Domln Coal lit6i.'13MA8 {110 61 1904 JAJ 107 108 PhAEr gen M 5g.'20 AAO 13C* " - g.*06 DeLong H & E 10 * * • • •t* •*• 5aifn nit M 61 M&8 {111 118* Seriei A5i 1926.... JAJ 185 Gen M 4s g,. 1920 AAO 108% " FrBlkAMVlit6i'33end {137 135 130 •••••• Dlam State St.. 10 6* • ••* SerteiB 5i 1926.... JAJ Ph A Read 2d 5i.'S3 AAO **reT " Unit'p'd lit 6i.'S3 A&O {135 Pitt Cn Trac 5i.l997 JAJ 114 Consol M 7s.. 1911 JAD 189 131 Domln Coal pf. (Bost)lOO 116 Illln Steel oonv 5i.' 10 JAJ {100* PotomVal lit 5I.1941JAJ 108 110 Con M 6s g... 1911 JAD 131 Dom Iron & S.tf " .... 27 87* Debenture Si.1913 AAO {100* 3ecAvTn(Pltti)5i'34J&D 115 Bxtl mp M4s g.'47 AAO Easton Con EL (PhU) 50 18* KCCA 81it5ig.'25 AAO i 104 Sav Fla A Weit 5i ' 3 4AAO 113 Con M of '82 4s.'37 J&J Edleon El IU ..(Boat) 100 345 KCFt8AGlitfi.'08J&D {114 • ••• Seaboard A L4i 1950.... 85* 86 Terminal 5s g.1941 Q-i EleoCoof AmU (PhU) 50 w KCT SAMoon 6i.'28MAN {183 184 8eab A Roan 5s. 1026 JAJ 118 PWUABalt4s.l917AAO Franklin Min'g. (Bost) 25 16 17 K C M A B lit 4i..'34 MAS { 100 So.Bound lit 5s '41. AAO 109 110 Coliat trust 4s.l921 JAJ General Elect.. " 100 368* 359* Inoome 5i 00 UnBl LAPllt4*l'30MAN 84 85 Read Co gen 4i, 1997 JAJ 97% 98* Pref. " 100 KC4M RyAB 5i.' 2 8 AAO {107* Un Ry A El lit4i'49.MA8 05* 95* Rochester Ry oon 51.1930 Ind-EgypCom " 100 4* KCStJoACB7i.'07JAJ {115 Income 4i 1049.,.,JAD 73 78* SohRB81delst5s g'SSJAD 111" '• lit iBtButH&SM 10 1 1% L Rook&F S 7i.'05 JA. {106 Vlrg Mid 1st 6S.1906 MAS 107 Scran Trao lit 6s ' 32M AN Int SP«fcDynam(PhU) 60 Mar H A Ont 6i...'25 AAO 1118 2diertei 61.. 1911 MAS 114 UnTraoPltti gen5i'07JAJ iie* • • Iely Royale1i..(Bost) 25 34 35 Mex Cent 4ig..l911JAJ 81 68 Sdierlei 61.. 1916 MAS 131 Welibachi f 5s 1030. JAD 74 Manufao Rub.. (Phil) 60 1st con lno 3l g non-cum 38 31 4th ier 3-4-5I.1921MAS 113 (And Interest. Pref. •• 60 3d con lno 3i non-cum.. 18 81 Sthierlei 6s. 1026 MAS 114 •Price include! overdue coupo ns. . 4.

November 9, 1901.] THE GHUONKJLK. IO03

AI1MKAI I ritotl KKHOKIN OFTltK NATIONAL. HlNKs t|tl)li TO TUB Hi >li- I Kul.l.l ll Jul) 15, 1001.

DtpotiU. Lomu

( (Maine 84 * 10.52 1.000 $2,800,357 $22,308,707 8341,620 824.631.74t til, 152,755 $86,010 $104,181 -.004 »48 •0 N. Hampshire. 56 5,550,000 1.470,221 13,408,590 9 4 '.(,3 60 18.072.724 401,437 91,270 111,186 17i,09* 317,078 — Vermont 471 0, 43d, 000 1,448,905 11,363,001 255.970 18.568,381 112,487, 31,200 lOl 62,003 231,554

i •,103,1<,<, - M Boston 39 37,020,000 14,311,000 130,635,988 3,787,127 177,097,30b 5,413,81 7,012,470 202,502 < 87,213 S Mass., other .. 207 40,252.800 15.021.7tf7 95,48u,100 1,899 115,787,911 3,493,083 420,010 .,829 1.075.9 -.il 1,128 * Rhode Island. 42 14,455,250 3,428,729 18,158,293 110,010 88,186,466 562.650 151, -.80 88,186 245,013 a 041 8,006.407 48.6ft9.37 2 l,2u 50,802,474 1,926,031 .,290 265,644 593,717 g£ Connecticut... 83 20,357.070 1. 158,816 134,590,H20 8,0 16 312,914,477 8,311, 890 1,610,901 I Total Dlv.No.l 558, _4 6,48 7,532 "422^85T9iro!l3,452,258' O90 New York (It) 43 62,550,000 47,565,000 598,037,272 33,511,533 602, 1 Hit, 119,79,098,483 56,660,-70 748,063 1570' 55,329,789 f i Brooklyn 5 1.352.000 1.900,000, 14,258.216 119,690 12,528,076] 416,204 312,9001 85,347 896,499 911,026 — Albany (i 1,550,000 1,390,000! 8.973,822 809,948 13,616,475 481,885 393,000! 58,872 35,i0u 8 .1 140 Z N. York, other 287 31,601.290 11.018,190 127,071,990 2,067,607 110,996,362 3,670,985 1,077,530 785,910 956.272 3.911 — New Jersey... 122 15,358,930 8,849,272 75,590,346 1,002,451 00.520.2h5 1,540.565 657,890 435,206 1,196,022 2.480,215 g Philadelphia.. 36, 19,905,000 18,565,000 123,451,546 4.044,251 137,302,364 10,375,216 5,562.890 570,125 3,474,767 3,974,068 . Pittsburg 31 14,150,000 12.000.000 84,556,993 1,689,754 87.043,134 3,857,631 2,884,000 377.208 2,314,001 3,811,919 K Peuna., other 430 45,0 18,119 26.598,866 206,734,54" 3, IS «,352 159,623.211 7,084,091 1,208,000 ' 1,219,172 1,881,036 5,222,585

( Total Dlv.No.2 965 191,488.809 187,886.828 1.238, 074, 73i 46,776 .641 1,180,879.056 106528000 68,757,080 4,279,903 2595668b 76,602,605

f Delaware 20 2,158,985 1,006,150 6,969,898 47.500 6,486.343 127,693 27,760 69,087 203,884 172,621 1 Baltimore .... It* 11,458,200 4,426,900 32.700.U91 2,220,519 41.082,404 714,748 607,080 104,846 1,625,250 2,342.000 Z Maryland, oth. 57 4,188,700 1,999,997 15,509,252 272,000 14,183,096 362,767 129,560 91,421 191,474 412,767 •0 Washington... 11 2,775,000 1,603,456 18,131,184 427,861 12,305,754 747,237 931,970 46,913 613,258 802,931 2 Dlst. Col., oth. 1 252,000 150,000 1,158,237 1,036,628 102,148 45,000! 4,355 15,352 59,450 1 6" Virginia 47 5,334.430 1,913.198 23,657,684 2,607,066 23,642,332 673,940 69,310; 210,370 203.286 1,114,897 West Virginia. 46 4,083,0401 1,209,477 18,777,376 788.52H 15,080,291 671,348 122,580 140,670 190.224 1 040^358

I Total Dlv.No.3 201 30,250,415. 12,309,178 116,904,620 0,363,475 113,816,848 3,399,881 1,933,260 667,695 4,072,228 5,551.024 North Carolina 35 947,108 7,884,500 638,017 10,517,101 341,520 8,200 147,958 100,523 I 3,092,650 408,141 South Carolina 17 2, 09 8, 000 713,3191 5,415,173 361,046 8,536,471 138,132 1,690 128,436 40,832 165,857 Savannah 750,000 225,000 ! 790,244 117,766 1,855,898 41,000 11,000 27,000 34,600 60.521 Georgia, oth... 3,666.000 1.346.406; 11,177,291 938,19* 14,015,598 323,436 61,580 244,784 138,919 498,014 Florida ?! 1,355,000 658,600 8,607,915 258,322 5,243,561 172,629 62,400 145,861 131,213 438,800 _ Alabama 3,590,000 689,860 12,949,079 251,000 11,585,347 475,533 234,210 238,814 172.020 567,253 *j Mississippi 8 1,130,000 486,700 3,866,02n 4,261.702 74,239 21,300 137,364 13,941 233,130 — New Orleans.. 8| 2,600,000 3.095,000 18,277,848 316,821 17,558.280 617,929 419.760 1 121,635 690,105 814,025 — Louisiana, oth. 17 1,147,500 448,200 5,588,029 80,000 5,918,888 87,001 164,820 121,863 63,786 148,244 8 Houston 6 1,350,000 675,000 5,105,072 3,472,247 313,117 368,830 192,364 203,827 793,256 ® Texas, other.. 270 20,539,250 5,746,599 72,6u5,440 988,968 68,238,629 2,439,770 852,000 1,435,992 693.905 3,237,893 Arkansas 9 1,107,500 322,500 3,884,612 95,463 3,841,785 94,921 32,240 93,272 63,599 130,978 I Louisville .... 8 4.645,000 1,812,500 9,434,991 2,157,7o2 14,447,983 792,620 172,000 54,229 915,815 J Kentucky, oth. 76 8,215,710 2,186,992 19,054,745 1,615,693 21,339,609 803,234 82,860 160,669 126,857 553,263 I Tennessee 55! 7,265,440 1,795,872 23,402,909 642,033 24,594,467 846,352 327,350 268,552 389,896 1,140,894 Dlv. 597 ,656 208 ,043,882 215,430,509 7,564,433 2,820,240 2,8 Total No. 62,55 2,050 21,149 8,434,105 ! 3,518,793 64,023 i I j 0,096,084 J ' Clnolnnatl.. .. 13 7,700,000 2,775,000 33,357,742 3,550,378 34,533,193 848,627 1,175,000 136,601 742,878 "4,373,218 ' Cleveland .... 18 12.983,700 3,571,850 28,610,339 490,001 46,905,632 1,773,987 699,980; 198,413 259,068 1,923,758 « Columbus 6 2,300,000 605,000 9,633,011 278,362 9.043,996 394.705 211,500 58.199 231,170 7b9.729 •5 Ohio, other ... 259, 27,387,600 8,522.037 99,751,645 1,791,791 91,558,385 3,681,813 344,010, 745,267 454,870 3,799,538 e Indianapolis.. 6 2,616.000 1,405,000 13,102,012 1,886,059 11,867,699 1,283,908 1,090,000 72,539 198,278 762,059 2 Indiana, other 126 12,714.500: 3,781,990 51,529,151 1,225,777 39,311,003 2,468,818 299,600 449,890 449,125 1,753,473 E Chicago 12 18,750|00tf 8,755.000 127,769,072 1,668,670 171,993,245 12,417,298 11,605,480! 420,818 1,168.489 25,150,617 . Illinois, other. 243 19,392,000 6,952,271 91,702,166 2,085,043 79,840,180 3,107.885 778,730 546.028 535,360 2,377,715 « Detroit 6 3,300,000 622,000 13,622,390 709,231 15,448.389 1,151.042 166,990 99,232 211,816 1,163,151 • Mlohlg'n.othei 79 8.285,000 2,503,136 44,036,084 913,235 38,154,098 1,837,766 156,230 258,928 226,913 1,293,340 5 {f Milwaukee 3,250,000 925,000 26,929,812 1,101.139 23,046,387 1,749,220 670,000 121,062 110,000 1,525,055 Wisconsin, oth. 87 7,215,000 1,803,479 42,652,999 616,871 35,366.254 1,493,286 189.350 264,790 219,570 999,153 | { Total Dlv. No. 5 860125,893,800 42,221,763 582,696,723 16,317,160 597,068,461 32,208,255 17,386,870 3,371,767 7,807,537 45,890,836

( Des Moines... 4 800,000 250,000 2,823,001 294,048 6,559,806 157,230 32,420 50,303 149,781 449,634 i Iowa, other... 216 14,096,100 3,149,985 56,883,804 1,066,238 56,458,316 1,970,178 416,170 428,305 547,053 1,784,725

I St. Paul 5 3,700,000, 733,000 13,727,834 980,798 12,333,424 1,587,471 34,300 115,235 264,395 380,153

, Minneapolis.. 4 3.250,0001 695,000 10,827,929 339,631 14,332,472 945,405 70,000 87,076 30,000 554,000 Minnesota, oth 83 5,125,0001 1,137,554 26,371,215 190,000 22,560,543 1,007,508 81,560 196,469 171,286 494,933 13,400,0001 j, St. Louis 7 4,300.000 40,869,965 2,809,913 71,193,114 2.402,932 5,183,600 84,568 2,455,882 4,891,510 « Kansas City.. 2,650,000 775,000 23, 890,57o 946,962 35,704,424 1,204,425 1,168,300 304,691 731,484 913,950 9 St. Joseph 2 350,000 114,350 3,345,910 94,928 3,548,966 170,190 27,640 40,309 262,357 229,020 •j Missouri, oth'r 56 3,735.000 842,550 13,823,108 122,000 11,586,220 415,140 55,880 116,683 81,909 421,144

1 Total Div.No.6 681 69,070,700 15,694,95b 276,737,723 8,654,025 315,159,857 13,221,943 7,468,530 2,167,755 , 5,378,955 14,038,541 |

( Nevada 1 82,000 5,000 406,276 502,901 11,565 5,388 .... 1,341 I, San Franolsoo 5 6,180,000 2.700,000 17.897,5»1 584.664 19,683,1901 3,897,378 815,100 97,252 11,302 9,784 Z Los Angeles.. 4 1,300,000 252.500 6,701,205 142,452 5,033,505 1,029,240 46,030 24,902 50,029 59,535 <£ California, olh 32 3,775,000 979.150 15,332,597 12,153,761 1,380,560 49,360 204,822 32,888 79,232 2 Portland 4 1,100,000 187,500 6,406,263 490,490 3,531,472: 975,965 19,635 8,766 48.069 5 Oregon, other. 26 1,293,830 314,250 6,701,480 4,424,253 656,875 9,730 69,396 21,872 81.304 Washington... 31 3,205,000 679,000 22,415,497 942,289 14,542,211 2,170,125 78,630 175,467 100,610 201,796 *f [ Total Div.No.7 102 16,935,830 5,117,400 75,860,899 2,159,895 59,871,296J10.121,708 998,850 596,862 225,467 481,061 f Amona 7 455,000 90,030 2,784,39b 1,696,589 261,075 26,000 31,673 1,254 60,163 New Mexico.. 10 761.800 178,250 4,178,113 184,939 3,002,457 130,515 10,000 53,037 19,016 141,543 | Denver 41 1,700,000 500,000 26,847,970 874,810 16,316,318 3.115,998 310,000 182,858 100,000 1,465,000 j Colorado.oth'r 37| 2,727,000 801,336 24,817,763 292,818 14,183,754 1,026,033 182,030, 158,435 228,226 701,345 « Idaho H 600,000 206,000 4,269,954 75,413' 2,067,268 218,810 6,840, 18.373 28,598 74,830 £ Montana . 22 2,430,000 500,000 13,266,557 273,237 11,663,726 805,508 110,390! 74,883 14.101 386,036 J5 Oklahoma 38 1,315,000 108,617 7,616,518 225,000 4,262,046 154,914 45,090 74,535 57,586 246,791 • Indian Ter 47 1,908,375 366,059 4,601,917 5,170,893 123,548 84,200 65,650 39,565 150,765 •S Utah 10 1,600,000 409,987 6,468,963 632,285 4,180,239 1,000,511 4,760 48,886 10,031 71.982 § Wyoming 13 860,000 140,550 4,315,341 47,2171 3,916,811 234,920 7,320| 31,954 9,624 50,913 Alaska 1 50,000 103,126 63, 3951 54,640 3.373 100 2,180 I 1,050 25.735! s.o^o!

Hawaii ll 500,000 25,000 731,749 120,320 946,801 141,885 68.690 7,121 192 1 37,835 Total Div.No.8 201 14,937,173 3,326,879 100,0u4,367 2,789,434 67,491,542 7,839,4871 813,320! 750.771 608,490, 3,389,383

Total for U. S. ..'4,165 645,7 I 9,099 274,194,176 2^9417837,429 99,072.267 2,981.053.5~89 194336025|l08490040 17.000,457,51259021 1169714624

Totals fob Kesehve ii Cities, Ac. £ I V d ll 3J Is Millions. 5«j in I S,3 X 5 00 1*9 I Loans 177 00 2 Hi 137 87 11 12 1-8118 3 7 14 35 4? 9H 1 174 ia-4 23 6 20 7|71 89*3 4-8 lS»-624-: 3-5 16 3 1,645 1.336 4.981 • B'ds.st'ks.&c 41 148 43 26 11 3 •4 5, -6, 9 20 » 33 5-4 22 4-6 5 11 8 20 96 •7, 45 76 400 4>0 880 e Duefr.banks 8-2 1-4 48 57 9 51 1« 1 1 8 2| 4|3'7 5 11 26 40 31 8 21 ,10-«i 18 44> 8*8 8-fi a-s 1 o i 394 396 788 t» Specie * * -4i •1 16! 154 20 9 a u 11 211 1 3 3l a-ei 29 1 ei 91 8-1 10 3 00 l-cl 3! 381 90 371 •2 •1 g Not'a.ctfs.Acj 50 2 4 1 •9 14 1-8 1-8 40 04 4 a 1 8 9 :• 47 2 11 3 16 134 196 •Cl'r'gH.excb| 20 •2*1 •2 17 4 1 10 •6 1 10 3 41 s - I"- •1 4 294 7 301 Oth. •3 •4 •5 •8 •4 Sj res'oes.. _4 9 9 8 3 1 1 1*4 3 -8 l- 1-0! •* 04 89 153

Totala.. 493 -"I-1261 19 481 154 76 •26 2-7 32 1031 71 7 5 lTb 300 307 297 41 11510 130 Sit- 8*037-«49-8 1 14 4 1 63.416 2 400 3,676 r lapltal.. 37 63 3 -Hi 14 11 8 •6 314 a 8 13 23 2-6 19 8 8 3 »! 7-0 3-o 10 40 7* 11 17 431 395 040 8ur. 1 •9 -6 •8 £ Aundiv. 2 2 80 22 17 6 2 8 3 •» •2 4 5 It) 14 l-o 1 -a 21 2 3 4 2 8 1 20* 209 417 •6 "C Circulation.. 6 31 1 10 7 4 1 S 1 -8: 4 4 4 •a, O 14 1 -6 1-5 10 19 43 l : 109 210 319 S Duetodep'rs 1) i 13-01 140! 634| 24 12? 86 35 19 1951 lii|3? 29 9b 130 14 ; 49 3 1 25-9 44 4JS-3 20 1 6 23-3 9 47 7 1.541 1 .500 3.041 « Dae to banks 85 442117 102 30 19 1 4 5 28 IB 22 3'0 10 6 1381 97 7|«-3 14-8 54 403 3 •; 14-s; «,1 19 9 4 1.U81 126 1.407 •1 •1 £ Other nab e » l«j— .... 1 -9 •• 20 4- 2 .J^. 1 J? 20 46 I Totals •29% 1404 49 281 154 7 6 ii •2-7 3*1(1 SI 74 7 5 17-8308 307 i»1 4111151-0 180M 9 8- 37 0495 11 4 41 6 3.410 4.460 3,676 w..i ...... i.. . .. 1

1004 THK CHRONIOLK [Vol. LXXIII. |m)je$immt and Railroad Intelligent*. RAILROAD EARNINGS. The following table shows the gross earnings of every Steam railroad from -which regular weekly or monthly returns can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two columns the earnings for the period from July I to and including such latest week or month. The returns of tlte street railways arc brought together separately on a subsequent j/age. Notice Change Our yearly totals now all date from July 1.

Latest Oross Jiarnlngs July 1 to Latest Date July 1 to Latest Late ROADS ROADS Week Current Prevtou* Current I*reoioue Week Current ioUS or Month. year Year Year Year or Month. year year Year Year $ $ $ 9

I .10,513 Adirondack.. . . AuiriiHt 22,192 20,01 30,254 Mo Pac & Iron Mi 4th wk Oct 1,310,000 1,093.000 13,030,000 11,200.000 Ala it Southern. ttli wk Oct 78,800 08,097 811,758 692,417 Central Branch 1th wk Oil 88,000 .10,0110 543,000 .OOO 3s, Ala Midland June 71,062 70,89 I 1,021,923 949,651 Total 4th wk Oct 1,378,000 1,1 OOO 3,190 11, 76 AJaNOA lexa* Pao Juno, Mob Jack A KO. Wk Nov 2. 3,130 2,30 1 53,281 11,749 N () A No Kast. 'id wk Oct 41,000 39,000 583,566 518,463 Mobile A Ohio. October... 564.000 566,800 2,012,7o0 ',970

209,781 1 Ala * Vleksb'g 2.1 wkOct. 20,000 10,000 262,565 Mont A Mex Gulf October. . 133,664 10-, 000 490,15 4 01,039

'_'(), 250.81 I. 214,782 Vloksb 8h ^ P. 2d wk Oct 000 30, 000 Nash Ch A 8t La. October.. 713 725.2 13 2,61 I 2,01. Ann Arbor lib wk Oot 58,73] 62,95 l 621.300 564,030 Nev-Cal-Ore .... 3d wk Oct. 5,143 4,1 10 57,210 48,659 Ann Wash A Ral •eptember 7,333 5,193 23,683 16,038 Nevada Central.. July B.09I 2,51 Hi 3,090 2,500 Atoli Top iSiSFti. September 5,012,230 1,389,554 14,710, *o:s 12,340,446 N Y C & Hud Riv October.. 6,91 5,3 19 5,911,210 262337,553 23,15 Atlanta A i liar.. July 245,057 231.460 245,957 231,460 N Y Ont * West. September 490,708 378,61 1,605,809 1,3 Atl Kuoxv & No. October... 56,890 40,383 201,303 165,039 V Y Susq A West September 224,08 1 163,049 731,548 ;,254 Atlanta &WPt.. rune 49,656 47,085 740,089 702,472 Norfolk A West' 4tn wk Oct 554,750 454,809 5,840,230 5,1 12,121 Atl Coast Line... September 605,005 658,649 1,718,090 1,682,202 Northern Central September 761,019 620,510 2,110,570 1,898,070 Atl Vaid A West. September 22,900 16,829 67,279 49,470 North'n Pacific. d 3d wk Oct 1,013,478 814,219 13,093,787 11,275,762 Austin A North May 20,422 12,830 250.150 156,004 Ohio A Little Bait A Ann S L.. September 8.452 6,855 28.688 24,075 Kanawha... August 18,519 15,489 31.216 29,696 Bait Ohio > Pacific Coast 519,023 855,410 1,045,495 A September 4,167,390 3,927,258 12,633,422 11,348,717 Co. August... 399,024 B & O Southw. < Pacific Mail April 185,475 355,867 2,513,701 3,308.378 Bangor & Aroost September 150,158 128,977 393,875 345,612 Penn-EastPAE September 7,927,439 7,233,539 23,937,495 21,430,595 Bath A Haniiuon Septe nlior 3,0:so 3,705 8,596 9,445 West P & E .. September Inc 86 5,000 Inc 2.5 56,200 Bellefonte Cent'l September 5,029 2,767 14,169 7,868 Penn A Northw'n April ... 47.384 50,298 569,071 .,774 Bridgt & Saco R. August 5,938 4,530 9,500 7,661 Pere Marquette 4th wk Oot 277,790 236,633 3,335,300 2.900,162 1 Butt Koch & lit* 4th wkOct 220, '20 189,018 2,346,850 2,057,230 Phlla A Erie... August ... 704,330 547,12s 1,309,398 1,000,210 J Butt'alo ASusq... September 74,158 00.851 200,079 157,136 > hila Wflm A B September 1,000,500 903,090 3,050,095 3,027,095 Burl O Bap & No 4th wk Oct 184,335 161,091 1,971,059 1,810,629 Pittsb C C A St L Sejitember 1,829,236 1,548.478 5,300,170 4,025,434 Canadian Pacific 4ih wk Oct 1.210,000 941,000 12,807,031 10,547,471 P.ttsb A West'n July 222,095 179,820 222,095 179.820 Cent'l of Georgia 4ihwkOct 287,092 239,623 2,553,300 2,401,778 Pittsb CI A Tol July 129,358 94,950 129,358 94.950 Cent'l New Eug.. September 53,890 02,959 106,610 186,031 Pittsb Pa A F.. July 52,405 57,019 52,405 57,019 Cent'l of N Jersey September 1,443,845 1.247,128 4,423,179 4,128,853 Total system. 4th wk Oot 130,323 112.309 1,509,307 1,316,076 Central Paoitlo.. August 2,021,773 1,836,007 3,800,067 3,570,262 Plant System- Cent'l Pa A West June. 2,380 2,403 24,002 24,430 Ala Midland. Chattan South'n. 3d wk Oct 1,837 2,036 30,311 35,235 Bruns W'n. A September 570,971 550,909 1,749,180 1,675,695 Chesap A Ohio... 4th wk Oct 545,177 482,005 5,807,455 5,370,128 Chas A Sav... Chic A Alton Ry. September 802,094 833,871 2,480,970 2,450,572 Sav Fla A W. Chic Burl At Quin September 4,970,334 4,772,001 14,430,790 13,225,020 Sil S Oo & G.. Chic A E Illinois. 4th wkOct 151,566 137,572 2,041,911 1,360,081 Reading Oo. -

Chi Gt Western 4th wk Oct 262,047 220,123 . 2,743,293 2,490,853 Phil A Read... September 2,461,900 2,362,124 7,295,832 7,069,420 Chiolnd AL'v... 4th wk Oct 139,783 120,223 1,623,088 1,414,618 Coal Air Co... September 2,304,213 2,712,918 6,021,701 7,275,150 Chic Ml lw &8tP 4thwkOct 1,043,250 1,534,910 10,217,854 14,822,316 Tot both Co's.. September 4,766,113 5,075,042 13,917,534 14,344,570 Chic & North W'u September 4,276,720 4,002,116 12,459,796 11,512,039 Rich Fr'ksb A P mgust 82,410 60,021 167,829 150,516 Chic Peo A St L Rio Grande Jot. August 52,396 49,707 104,180 100,433 ( October.. 135,810 132,879 487.297 453.168 StLCh AStPJ Rio Grande So.. 4th wk Oot 20,623 19,059 199.508 194,547 ChicRI A Pao... September 2,703,337 2,460,515 8,490,868 7,360,419 Rio Gr'de West October.. 459,447 507,100 1,870,147 1,778,000 Chic St PM

Colorado & South September 446,487 391,463 1,332,173 1,187,484 San Ant A A P. August . 225,205 397,138 Col Newt) & Lan. August 13.726 13,515 24,509 25,277 San Fran AN P.. September 112,863 103,267 328,858 307,840 Col Sand A Hock 3d wk Oot 25,913 22,649 409,012 334.758 San Pedro Los An- Cornwall ALeb.. September 29,610 17.836 102,526 73,575 geles A Salt L. 3d wk Oot 3,164 1,964 Oumberl d Val ey September 112,856 108,148 307,168 291,415 SFe eTes APh... 3d wk Oot. 18,323 18,073 291,302 283,655 r Denver A Rio Gi 4th wk Oot 374,500 363,800 4,323,925 4,132,299 Sav Fla A West.. September /570.971 / 550,909 f'1,749.180 '1,675,695 Detroit Southern 4th wkOct 42,807 37,423 427,342 377,435 Seaboard Air L.. 3d wk Oct. 245,780 221,23" 3,435,214 3.155,255

Det A Mackinac. September 65,300 69,357 202,300 218,182 SoC A GaExt... September 20,443 20,941 , 58,784 60,294 Dul So 8h& Atl.. 4th wk Oct 74,888 83,344 971,746 958.153 So Haven A East. September 12,570 15,605 27,246 31,669 E St L A Carond September 13,250 12,528 39,775 37,782 Southern Ind October. 53.835 35,250 215,778 130,561 Erie ^ep ember 3,561,644 3,118,901 10,914.991 9,818,181 So Miss A Ark... September 18.961 18,055 57,054 53.241 Evansv & Indian 4t,h wk Oct 8,679 9,721 119,259 122,535 So Pacific Co 6... August 7,134,692 5,997,862 13,815,451 11,731,157 Evansv A TH... 4th wk Oct 44,936 45,138 530,025 503,301 Austin A No'n. May 20,422 12,830 250,450 156,004 Find Ft W & W September 9,635 9,610 33,638 30,009 Carson A Col July 19,373 11,068 19,373 11,068 Ft W A Den v City September 164,824 163,074 515.20s 470,401 Cent Pacific August ... 2,021,773 1,830,607 3,866,067 3,570,262 Georgia RR September 148,250 174,390 415,700 424,344 Direct Nav Co July 2,828 1,943 2,828 1,943 Ga South & Fla. 4th wk Oct 36,519 35,919 320,107 301,800 Gal Har ASA. August ... 579,590 477,370 1,139,551 963,564 Gila Val G A, N.. September 28,501 24,410 80,0 14 91,223 Gal Hous A No August ... 35,795 27,807 65,747 54,302 Gr Trunk System 4th wk Oct 933,786 854,124 10,380,093 9,626,240 Gulf W. T. A P. August ... 14,701 10,027 28,477 18,504 GrTr & West'n 3d wk Oct 90,100 81,618 1,330, 001 1,228,110 Hous.E A VT. August ... 69,691 53,307 134,571 108,413 DetOr H&M.. 3d wk Oct 18,946 22,737 352,323 348,818 Hous. A Shrev. August 17,475 11,882 30,866 19,994 Great North'n — Hous ATex Gen August 421,315 344.432 SOS, 414 640,073 StPMinn&M. Ootober. 3,347,031 2,325,735 10,722,179 8,221,104 Iberia A Verm'D July 3,938 2,456 3.938 2,456 East'nof Minn. October... 663,374 505,00( 2, ISO. 210 1,640,334 Louis'a West... AUiJUSt 147,758 111,054 285.507 219,139 Moutaua Cent'l October.. 153.003 192,520 045,838 710,142 Morgan's L A T August 640,812 551,240 1,228,000 1,050,468 Total system. October.. 4.163, LOS 3,023,327 13,557,227 10,577, 580 NewMexA Ariz July 27,090 17,937 27,090 17,937 Hocking Valley.. 4th wk Oct 129,680 119.713 1,841.700 1,020.780 N YT A Mex .. August 30,557 18,722 56,140 36,432 Hous A Tex Ceni August 421,315 344,432 808,414 040,073 Tex ANOrl August.... 250,063 187,093 490.752 360.417 Illinois Central.. September 3,358,660 i, 112,021 9,917,500 8,034,232 Ore A Califor'a July 280.013 229,168 280,013 229,168 Illinois Southerii October... 11,449 11,199 46,748 43,153 Sonora Ry .... July 44,53 s 45,082 44,538 45,082 IndDec AWest'i July 59,098 55,928 59,098 55,928 So Pac Coast... July 99,015 98,477 99.015 98,477 Indlll & Iowa... September 143,302 104,354 4 15,700 291,449 So Pac of Cal .. August 1,892,700 1,534,792 3,647,164 2,989,290 Int A Gt North'n 4th wk Oct 225,244 215,003 1,600,903 1,575,547 So Pao of Ariz. August 346,781 254,250 653,454 525,850

Interoc(Mex) Wk Oct 19 66,900 74,960 1,134,100 1,189,730 So Pac of N M . August 203,713 149,594 386,530 295,096 Iowa Central 4th wk Oct 87,546 69,267 840,244 780,919 Southern Railw'y 4th wk Oot 1.160,391 1,108,796 12,543.433 11,917,496 Iron RaUway S 'ptember 6,130 4,021 18,860 13,514 Terre H A Ind... September 144,977 142,198 416,759 409,147

Kanawha & Midi 4th wk i ict 31.209 25,070 352.974 295,198 Terre H A Peor.. September 46,470 41,601 147,536 124,352 Kan City South'n September 414,837 360,072 1,182,737 1,075.883 Texas Central . . 3.1 wk Oct. 26,420 24,150 194,955 174,837 Lehigh AHudsoi October. 33,224 31,721 130,000 147,844 Texas A Pacific. 4th wkOct 421,347 411,048 3,621,761 3,242.134 Lehigh Val RR. Septembei 2,636,902 2,034,485 7,193,495 6,378,510 TexS V AN W .. September 10,600 1 1 ,500 32,200 30,100 Leh Val Coal Co. eptembei 1,578,351 1,956,997 4,782,685 5,474,718 Tol & Ohio Cent 4th wk Oct 92,594 78,464 1,018,594 877,840 Lexing A East'n. September 34.103 27,294 101,329 90,972 Tol P A West .... 4th wk Oct 31,050 29,247 410,345 416,982 Lou Hen A St L. October. 60,435 61,502 240,698 227.811 Tol StL A W 4th wk Oot 79,647 73,605 893,179 728,590 Louisv ~~September 11,643 17,022 29,058 40,388 Mo Kan & Texa- 4th wk Oct! 639,316 568,834 5,992,237 5,102,910 Yazoo A Miss V. September 451,265 432,569 1,290,633 1,105,892~~

§ Covers results on lines directly operated east of Pittsburg. * Figures from September 1 are for the railroad only. \ Mexican currency. alncludes Paducah A Memphis Division from July 1 in both years. t> Includes the Houston A Texas Central and its subsidiary lines. Earnings of the Cromwell Steamship Line, not previously reported, are now also included. c Results on Montgomery Division are included in both years. dlncludes St. Paul A Duluth for both years, e Inoludes results on Sher. Shrev. A Southern, Mo Midland and San Antonio extension for this year, but not for last year. /'These figures Me t e resul ts on the Ala. Midland, Brunswick A Western, Charleston Savannah, Savannah Fla. A West'n and Silver Springs Ooala A Gulf. rI, A g These figures inolude, besides the St. Louis A San Pra-noisoo proper, the Kan City Ft. Soott A Memphis and Ft, Worth A Rio Grande. . . . . 1 —

~~NOVEMHKK 9, 1901.] THE CHRONICLE. 100;~~

~~Totals for Fiscal Year. For the month of October~~

Latest (iro$$ Earning*. Net Earnings Monthly to Latest Dates - The tabic follow- Roads. Period. Ourrent Prevxou* ing shows the gross and net earnings of BTBAM railroads Year. Year. reported this week. A full detailed statement, including all roads from which monthly returns can be obtained, is given onoe a month in these columns, and the latest Atlanta & Charlotte Air Line Apr. 1 to July Bl 891,219 714,799 statement of :;o this kind will be found in the Bellefonte Central , Jan. 1 to Bept 36.8 66 31. »=37 Chronicle of Oct. 19, Burlington Cedar Rap. A No Jan. 1 to Oct. 3' 4,327,005 4 048.323 1901. The next will appear in the issue of Nov. 23, 1901. Central of New Jersey Jan. 1 to Kept. HO 12 516 796 11,518 443 . Qrosi Earnivgi. , titt hart tnot . Chicago A North-Western J line I to Bept 30 16.372. 8'-7 15 2(0,211 Ourrent t rerimii Chicago Rock Island A Pao. Apr. 1 to Bept 80 14 815,127 12 917.697 Current I'reviou$ Tear. i-ar. rear, Ohio. St. P. Minn. A Omaha. Jan. lto Sept. 80 7,874. 68e 7.2V-0.360 Tear. Roadt. 9 9 Choctaw Oklahoma A Gulf. Nov. 1 to Oct 21 4,951,916 3 230 146 • 9 Cumberland Valley.... Jan. 1 to Sept. 30 8< 2 575 758.321 Inn Art>or. b Sept 157,357 139,006 56.134 40,898 Duluth South Sho. A Atlantic Jan. 1 to Oct. 31 2,140.270 2 2C0.440 July 1 to Sept 30. 468,161 405,770 158.3C3 72,243 East St. Louis A Carondelet Jan. 1 to Sept. SO 118.74.^ 119,104 Ann'p.W'sh.ABal.aSept 7,333 5,193 3,265 1.821 Ft. Worth A Denver City. . . Jan. lto Sept. 30 1,530, 099 1,198,854 July 1 to Sept 30 23,683 16,038 10.380 4,132 Gila Valley Globe A North'n Jan. 1 to Sept. 30 955.192 284.030 AM. Knox. No a. Sept 63,977 International A Gt. North'n Jan. 1 to Oct 31 4 054,298 3.390,569 A 37,718 24,011 11.495 July 1 to Sept. 3o 147,473 ; Lehigh Valley RR Deo. 1 to Sept. 30 22 669,083 20.^88.168 124.6 6 52,926 43.397 Lehigh Valley Coal Deo. 1 to Sept. 30 17.503.J HO 15.817.050 Atlantic Coast 1. a Sept. 605,065 658.649 216.572 3C0.973 Manlstlque Jan. to Sept. 30 81,46- 9?,' 80 July l to Sept. 30.... 1,718,096 1,682,202 507,515 601,415 Mexican Central Jan. to Oct 31 14-12,304 14419.907 Baltimore A Annat'Olls Mexican International Jan. to Sept 30 4 346.134 3 926.583 Short Line. a . . . Bept 8,452 6,855 2.853 1,686 Mexican National to 31 6.330,822 Jan. Oct 6,550.012 July 1 to Sept. 3o.... 28,688 24,975 10,596 7,642 Mexican Railway Jan. Oct. 3 442,800 3,(49 0(0 to Aroost'h Mexican Southern Apr. to Oct. 482 340 475 0<7 Bangor A bSept 150,158 128,97 7 70,931 55,506 1 to 3c Missouri Pacific Jan. 1 to Oct 28,968.98* 25.058,196 July Sept 393,875 345,612 1£0,137 123,283 Central Branch Jan. 1 to Oct. 1,134.437 1,147.811 Bath A Hamin'ds.bSept. 8,030 3,705 1.043 1,891 Total Jan. 1 to Oct 29 030.727 25.282 256 July 1 to Sept ao 8,596 9,445 2,521 4,118 Monterey A Mexican Gull.... Jan. lto Oct. 1.165,353 1,158,741 Boston A Albany b— Northern Central 1 to Sept. 30 6,061.364 5 698.064 Jan. July 1 to Sept 30.... 2,642,888 2,573,544 1,184.995 958.572 Pacltlo Mall May lto Apr. 30 3,071,166 3,* 17,620 Maine h Pennsylvania, East of P. A E. Jan. 1 to Sept. 30 68,768,106 62,25 1.9o6 Boston A 30.... WestofP. AE Jan. 1 to Sept. 30 Ino. 3.5 32,000 July lto Sept 8,680,462 8,368,583 2,870,647 2,812.884 Pennsylvania . Bio Grande J unction Deo. lto Aug. 31 404,371 334,691 Oentr»l Pacific. . . Aug. 2,021.773 l,836,f07 903,891 827.360 31 3,8o6,067 8t L. Vandalla A Terre H.... Nov. 1 to Sept 30 1,844.'91 1,762,389 July 1 to Aug. 3,570,262 1,736,936 1,607,762 South Haven A Eastern Jan. lto Sept. 30 51.7t 7 52,188 Ohio. Kurl.&Quin bSept 4,970,334 4,772,004 2,024.732 2,027,755 South. Missouri A Arkansas.. Jan. 1 to Sept. 30 160.530 134 450 July 1 to Sept. aO.... 14,430,796 13,225,020 5.885,504 5,227,726 Terre Haute A Indianapolis.. Nov. 1 to Sept 30 1,432.809 1,465,991 Ohio. Ind.ALouls.a.Sept 398,661 358,233 177.430 149,058 Terre Haute A i'eorla Nov. 1 to Sept 30 503. 20* 434,838 July 1 to Sept. 3o... 1.210,971 1,045.199 5J9.734 395,491 Texas A Pacltlo Jan. 1 to Oct 81 9 169,231 7 291,106 West Jersey A 8eashore Jan. lto Sept 30 2,987.691 2,832,191 Ohio. R I.&Pac a. .Sept 2.703,337 2,46C,515 1,106.250 987,419 Apr. lto Sept. 0... 14,816,127 12,917,697 5,233,661 4,402.692 CHoi'do ASouth.b.Sept 446,487 391,463 97,827 93,583 July 1 to Sept. 30 .. 1,382,173 1,187,484 336,372 281,244 Latest Oross In the table which Earnings by Weeks.— Cornw'll A Leb'n . a Sept. 29,646 17.836 14.275 5,770 102,526 follows we sum up separately the earnings for the latest July lto Sept.3u 73,575 49,880 30,267 Oenv. & Rio G'ot-.b.Sept 1,114,163 1,039,251 453,082 393.376 week. The table covers the fourth week of October and July lto Sept.3u 3,201,625 3,037,299 l,32o,929 1,136,813 shows 12-78 per cent increase in the aggregate over the same Detroit * Mack- <•... Sept 65.300 69,857 17,926 24,480 July 1 to Sept. 30.... 202,300 218,182 47,551 week last year. 76,585 Gas A Eleotiic Co. of Bergen County. Sept. 25.699 20,781 13.039 8,339 1 3o 4th week of October. 1901. 1900. Increase. Decrease. June to Sept. 92,080 72,961 42.545 28,078 aonst.&Tex. < nni.Aug. 421,315 344.432 147,867 101,761 July 1 to Aug. 3 1 808,414 640,073 246,199 167,500 A'abama Gt. Southern 78,866 68,097 10,769 uexlng'n A£ast.t>. Sept 34,103 27.294 15,150 9,837 Ann Arbor 88.731 62.954 4,223 July 1 to Sept. 3o 101,329 90,972 41,718 35.158 Buffalo Roch. & Pittsb'g 220,120 189," 18 31,102 Maoon A Binning bSept 8,711 10,187 def. 1.065 1,024 Burl. Ced. Rap 161/91 23,244 July 1 to Sept .o ... 25,182 25,310 def.4^75 def.1,444 Canadian Paclflo 1,210,00C 941.00( 269,' 00 National C*rtral ofOeorjrla .. 287,992 239,623 48,369 Mexican Sept. 579,(01 624,475 C194.036 281,979 Chesapeake & Ohio 545,177 482.905 62.272 Jan. 1 to Sept. 30 5.728,241 5,958,278 c2,159,8l7 2,817,838 Chicago <* East Illinois 151. 56< 137.572 13 994 Mont. < 4 .324 2,036 Clev. Cln. Chlo. A 8t. L. 646,247 556 234 90.013 Newb.D'tohess & Conn.— Peoria* Eastern 79, J 07 76.956 2,351 July 1 to Sept. 30.... 43,298 41,712 10,483 10,332 Denver A Rio Grande. 374,50' 363,-00 10,70( New Jersey &New York- Detroit Southern 42,867 37,423 5,444 July 1 to Sept. 30... 98,919 97,647 38 : 673 41.371 Duluth Bo. Shore A A t 74.888 83,344 8.456 New London N«rihern— EvanBV. & Indianapolis 8.679 9,721 1,042 1 to Sept. 30 259,712 247,267 37,102 48,252 Evansv. A Terre Haute 44,93i 45,138 202 July Ga. Southern A Fla 36,519 35,919 600 N. Y. A Ottawa- Grand Trunk July 1 to Sept. 30.... 30,097 25,885 3,488 def.17,792 Grand Trunk West.. 933.786 854,124 79.662 Hortoik A West'n.a.Sept 1,456,313 1,366.660 620 829 550,957 Det. Gr. Hav. AMllw, July 1 to Sept 30... 4,231,432 4,047,137 1,788.424 1,697,754 Hocking Valley 129,686 119,713 9,973 Northern Central. 761,019 626.519 284.913 lt0,413 Int. & Great Northern.. 2i 5,244 10,181 b.Sept 215,063 6.0til,364 5,698,064 1,725,505 1.545,505 Iowa Central 87,54 69,267 18,279 Jan. 1 to Sept 30 Kanawha A Mlohlgan... 31, '100 25,076 6,133 Pennsylvania- Louisville A Nashville.. 989,280 838,144 121,136 Lines dlrectlyoperated Mexican Central 491,57- 523,645 32,067 EastofPitts.AE.Sept 7.927,439 7,238,539 3.183.311 2.821,111 Mexican National 198 861 20 ,185 5 294 Jan. lto Sept 30 ...68,768,106 62,251,906 24,013,607 20.111,307 Minn. St. Louis A 114,0 4 129,97 6 15,972 West of Pitts. 09 2, 18,014 July 1 to Sept oO.... 143,819 141,418 64,931 60,557 Rio Grande Southern. . S0.P23 19 0^9 1,564 116,122 133,314 30,969 63,646 St. Louis & San Fran ... 757,6 15 605.230 152,40 Bl IOS.AOd.lfti a. Sept July 1 to Sept. <*u.... 384,372 361,943 129,358 142,909 St. Louis Southwestern . 278,748 259,ow6 19,160 Southern Ranwa\ ...... 1,160.39 1,10-1,796 51,59> 8eaboardAlrLineaSept 914,549 846.301 312.383 127.980 Texas A Pacitio 421,347 4U.048 10.299 July lto Sept 30.... 2,710,037 2.461,736 881,100 404,701 Ohio Central.. Toledo A 92,o94 78.464 14,130 Southern Paoltlc a .Aug. 7,184.692 6,997,862 2.740,548 2.009,412 Toledo Peoria A w^st'i. 31,650 29,2471 2.403 July 1 to Aug 31. ...13, 815,451 11.731,157 5,2,-0.734 3,935,825 Tol. 8t. L. West A 79.647 73,605 6,042 190.447 Wabash 600.937 Gal.Har.A8ai A.bAug. 579.596 477,370 86,317 522,593 78,344 963,564 326,109 Wisconsin Central 177,000 156.098 20,902 July lto Aug. 31... 1.139,651 149,381 GuifW. T APao.bAug. 14,701 10 0.7 3.528 880 Total (49 roads) 16,12t>,091 14,298,1»0 1,897,157 69,256 July 1 to Aug. 31.... 28.477 18,504 4,070 def.86 Net increase (1278 p. o.) 1.827,901 Hcnst.E.AW.T.b.Aug. 69,691 53.367 18,165 8.946 July 1 to Auk. 31.... 134,571 108,413 31,634 25,369 )...... —

~~1006 THE CHKON1CLK [Vol. LXXIII.~~

—Cross Earnings.——. — Net Earnings. Latest Gross Earnings. Jan. 1 to Latest Date Ourreni Previous Ourreni Previous Gross Karhinos. Our'nt ! Prev'us Current Year. kear Tear. Tear. Week or Ho \PreriouM Road$. 1 % 9 9 Tear. Tear. Tear. Tear. Hour. ATex.OeD.bAug. 421,315 344,432 147,867 101.761 July 1 to Aug. 31 808,414 640,073 246,199 167,500 Lorain A Cleveland. September 11,804 9,756 HniiHt.A- Shreve.bAug. 17,475 11.882 4.990 4.273 Mad. (Wis.)Traotlon. September 6,194 6,091 52.789 July 1 to Aug. 31 . 30,866 19.994 7,182 6,824 Mass. Elec. Co. 's AUgUBt 705,309 661,107 3,929,712 J.765,983 Lonlslana West. b. Aug. 147,758 111,6*4 61,956 32,717 Montreal Street Ry.. September 182,584 161,526 1,435,623 1,345,510 July 1 to Aug. 31 285.507 219,139 119,068 61,813 Musoatlne St. Ry September 6,126 6,566 52,814 50.967 NewburgSt. Ry September 10.615 9.812 176.332 79,401 76,391 M'K'n'flLa.&Tex.bAug. 640,812 551.240 216.410 New Castle Traction. September 9,098 8,285 97,090 104,022 July 1 to Aug. 31.... 1,228.000 1,050,468 405.250 304,^19 Bfew London St. Ry . September 7.5O0J 6,972 56,245 50,203 K. Y. Tex. A M.b.Aug. 30,557 18,722 10.793 4,519 Northern Ohio Traot. September 59,2421 45,957 449,938 371,134 July 1 to Aug. bl Oti.UO 36,432 20,184 9,369 Olean St. Ry September 4,940 4,188 40,799 38.871 Philadelphia Comp'y September 181,808 138, 12S Texan f there was charged off for this purpose $338,164, leaving a Albany City September 122,200 117,742 1,004,905 1,004,395 balance of $1,821,643. These figures are in Mexican ourrenoy, and are $ United Traot. convertible into gold at the current rate of exchange. (Pitts.) August.... 182,773 162,155 1,347,039 1,246,996 United Traot. (Pro v.) September 249,910 222,701 2,033,089 1,787,861 WiLANewCastleEleo August.... 8,603 6,200 46,167 80.559 Interest Charges and Surplus.—The following roads, In addition to their gross and net earnings given in the fore J These are results for properties owned, going, also report charges for interest, &o., with the surplus t Strike in August. 1900. above or deficit below those charges, . Int., rentals, etc. —> >—Bat. of Net Barn's.— Street Railway Net Earnings.—The following table give* Current Previous Current Previous Tear. Tear. Tear. Tear. the returns of Street railway gross and net earnings received Roads. this week. In reporting these net earnings for the street Boston Rev. B. & Lynn- July 1 to Sept. 30.... 14,176 14,457 *33.171 *80,656 railways, we adopt the same plan as that for the steam Ohio. Bnrl.A Qnlnoy Sept. 800.000 797,260 1,224,732 1.230,495 roads—that is, we print each week all the returns received July 1 to Sept. 30 2,400,000 2,391,781 3,435,504 2,835,945 that week, but once a month (on the third or the fourth Ohio. R. Isl. & Pao... Sept 319,000 316,997 787.250 670,422 Apr. 1 to Sept. 30 1,914,000 1.901,982 3,319,661 2,500,710 Saturday), we bring together all the roads furnishing re- Den. A R. Grande... Sept. 206,333 203,956 1246,935 '188,434 turns, and the latest statement of this kind will be found July 1 to Sept. 30 611,538 613,011 1741,943 1552,688 in Kashv. Chat.A St.L.Sept. 152,509 160,825 41,948 70,236 the Chronicle of October 19, 1901. The next will ap- July 1 to Sept. 30.... 457,530 483,977 116,679 190,203 pear In the issue of November 23, 1901. New Jersey & New York- July 1 to Sept. 30.... 15,450 14,861 •23,227 -26,512 Cross Earnings. , , Ne t Earnings.—. Current Previous Current Previous New London Northern- Tear. Tear. Tear. Tear. July lto Sept. 30 63,992 64,722 def.22,644 def.12,506 Roads. 9 9 9 9 Norfolk A West'n.-.Sept. 192,161 187,650 428,668 363,307 Brooklyn Rap. Tr.a.Sept 1,090,223 1.019.464 349,683 390,768 July lto Sept. 30.... 576,485 562,950 1,211,939 1,034,804 July 1 to Sept. 30... 3,433,600 8,226,458 1,174,477 1,264,915 Pere Marquette Sept. 125,319 112.024 98,527 111,417 Ohioago Eleotrio Trao.— Jan. 1 to Sept. 80.... 1,099,620 987.040 536,901 409.112 July lto Sept. 30.... 34,740 31,711 11,173 9,110 Bio Grande South.. Sept. 19,311 17,838 def. 1,532 3,952 Rochester Railway b — July 1 to Sept. 30.... 55,028 54,426 9,903 6,131 July 1 to Sept. 30.... 259,073 244,189 115,583 100,110 St. Jos. & Gr. Isl'd..Sept 8,750 8,750 22,219 54,896 Syracuse Rapid Transit- July 1 to Sept. 30.... 26,250 26,250 103,108 116,659 July 1 to Sept. 30.... 166,795 143,905 75,270 63,418 * After allowing for other income reo»ived. Interest Charges and Surplus.—The following Street t These figures are after making deductions for Discount and Ex- change. After deducting $10,000 for Renewal Fund and Bond railways, in addition to their gross and net earnings given in Conversion In Sept., 1901, and $15,900 In Sept., 1900, the surplus for the month is $236,935, against $173,434 a year ago. From July 1 the foregoing, also report oharges for interest, &c, with the to Sept. 30, 1901, the deductions for this purpose were $30,000, surplus or deficit above or below those charges. against $45,000 a year ago, leaving a surplus of $711,943 in 1901, against $507,688 in 1900. /-—Int.,rentals,etc. . <-Bal. of Net Earn'*.—. Current Previous Current Previous Tear. Tear. Tear. Tear, STREET RAILWAYS AND TRACTION COMPANIES. Roads. $ The following table shows the gross earnings for the latest Roeheter Ry.— period of all street railways from which we are able to ob July 1 to Sept. 30.... 74,861 72,376 •45,737 •29,872 tain weekly or monthly returns. The arrangement of the Byraouse Rapid Tr.— July lto Sept. 30.... 57.081 55,859 •19,821 *9,076 table is the same as that for the steam roads—that is, the first two columns of figures give the gross earnings for he latest week or month, and the last two columns the earnings for the calendar year from January 1 to and including suob ANNUAL REPORTS. latest week or month.

STREET RAILWAYS AND TRACTION COMPANIES. Annual Reports.—The following is an index to all annual reports of steam railroads, street railways and miscellaneous Latest Gross Earnings. Jan. 1 to Latest Date Gross companies which have been published since the last editions Earnings. of the Investors' and Street Railway Supplements. Week orMo Our'nt Prev'us Current Previout Tear. Tear. Tear. Tear. This index does not include reports in to-day's Chronicle. RArLROADS, Etc.— Page. Railroads, Etc.—(Con.)— Page. American R'ys. Co. 6. September 82,171 7 8,014 640,120 599,309 American Alkali 955 Railroad Securities (official state- Blnghamton RR September 18,456 15,767 153,116 137,702 American Bicycle 782 ment) 958 American Linseed !>55 Reading Company 780 837, 846 Br'klyn Rap.Tr. Co. . September 1.090,228 1.019,46-1 9,396,840 9,074,612 American Typefounders 955 Rutland 781 Chicago Mil. 19,197 16,522 132,160 & Elec. September 108,789 American Window Glass 956 St. Lawrence & Adirondack 840 Gin. Newp. &Cov.... September 610,642 588,710 Bangor & Aroostook 896 St. Lo uis & San Francisco 896, 911 City Elec. (Rome,Ga.) September "3,508 "3,510 31,346 30.195 Canada Atlantic 954 sahta Fe Prescott & Phoenix 954 Georgia Cleveland Electric . September 231,552 176,108 1,705,634 1,506,701 Central of 840 Texas Central 954 Oleve. Ely A West... September 27,430 18,863 185,992 181,049 C la lcago & Alton 720, 839 Toledo St. Louis & Western 896 Chicago Burlington & QuUicy..78U, 787 Western Union 788 Cleve. Pains v. & E. . September 18,823 14,495 124,184 106,184 Cincinnati Ham. & Dayton 889 Westinghouse Air Brake (bal. sheet (Pitts.) 264,969 247,810 2,252,549 Consol. Trao. September 2,110,415 Cleve., Akron & Columbus 955 of July 31, 1901) 848 DartuA Wport St.Ry. September 13,130 9.94b 95,335 80,571 Cleveland Lorain & Wheeling 953 Central. 85C j Wisconsin ,...838, Denver City Tram.... September 133,664 116,569 1,114.556 963,587 Colorado Midland 841 Crucible Steel of 841 Detroit United 4thwkOot. 82,211 72,284 2,385,939 2,111,310 America Page. Distilling of America .842. Street Railways— Rapid Railway Oct. 7,795 7,546 Co. 897 4th wk Glucose Sugar ReBning 842 Brooklyn Rapid Transit... 731, 839, 854 Total 4th wk Oct. 90,006 79,830 Great Northern 780,895, 903 Chicago Union Traction 188 Dnluth-Sup. Traot. September 38,933 39,148 334,723 Hall Signal Co. (bal. sheet of May Conn. Railway & Lighting (official DuluthSt. Ry....{ 31,1901) 842 statement to N. Y. Stock Ex.)... 852 Elgin Aurora & Sou September 34,172 29,486 275,504 234,125 Indiana Illinois & Iowa 840 International Traction of Buffalo. 836 618 Galveston City 11,580 Minn. St. P. «S Sault Ste. Marie.... 897 Metropolitan Street New York).. September County 014 Harrlsburg Traction. August 42,026 35,977 257,272 Minneapolis & St. Louis 953, 961 New York & Queens 231,782 Nash. Chat. St. Louis 336, 781 Northwestern fc.lev.RR .of Chic... 841 Internat'l & Traction— N. Y. Cent. & Hud. River. .719, 779. 790 Third Avenue RR (New York).... 658 (Buffalo) September 634,269246,484 3,418,286 1,982,511 Pacific Coast 953, 963 Toledo Railways & Light 618 Lehigh Traction. September 11,688 9,300 97,051 85,709 People's Gas Light & Coke (bal. Union Traction of Philadelphia... 614 London St. Ry.(Can.) September 1 15,0331 14,790 106.709 88,383 sheet of Oct. 1. 1901) 953 Union Traction of Pittsburg 894 Pullman Co 898 United Traction of Albany, etc. ... 610 :

~~November 0, 1001.] THE CHRONICLE. K)07~~

Rutland Railroad Company. Statistics.— Operations, earnings, expenses, have '" en as follows: {Report for year ended June 30, 1901.) OI'I.UAIIUA D CllAlKi IB. President Percival W. Clement says in substance: 190 1899-00. Conneetion Between the Rutland and the OgdU nsburg (& Average miles opeiatod 297 Lake Chum plain.—The Rutland-Canadian road wan, by Optrations^ . ugeia carried 907 -47 contract, to be completed on Oct. 1, 1899, and when it be- onemue 28,7< 24.626,< r.r -51 came apparent that the contractors were not intending to pa»Haugnr iirr mile •I

oarrled i 22,oso complete the road last winter, it was deemed advisable to Freight 1.77 n" •' one mile 186,661,403 120! 6'J.-03 condition. This take it over in its unfinished was done on Kate per ton per mile 8i ote. Oct. 12, 1900, and on Dec. 15 we were able to put our hrst Total train miles 2,28 l 983 through traffic over it, although the ballasting was not com- dross earnings per milt) nf roud pleted until BpriDg. The unfinished condition of the road Net earnings per mile or roan (irons earnings per revenue train mile 114 IIS necessitate i small trains, and made the operation expensive. / innings— That and the increase in the cost of coal and other supplies Freight $1,14 $1,119,992 has largely increased the cost of conducting transportation Passenger 62"o,846 625.9e5 Malls aud express 83,7;>2 during the past year. The traffic over the Rutland- Canadian ,476 Miscellaneous 2,752 8,722 shows a satisfactory increase, and it is believed the result will warrant the expenditure which has been made to Total earnings $1,862,236 $1,837,155 Operating l.xvensts— build it. Maintenance of way and structures $212. i $251,647 Improvements—New Equipments.— During the year, 35J^ Maintenance of equipment 174 172,894 miles of 60-pcund rails have been replaced by 80-pound Conducting transportation 767 638.'j17 steel rails (4,485 tons), costing $96,517, and three wooden General expenses 53.148 10,464 bridges by steel structures costing $30,006. Total operating expenses. $1,208,428 $1,123,922 business required The development of the company's the Net earnings $653,809 $713,233 purchase of additional freight cars, and 600 box cars of 60,000 Add—Rents 20,810 18,745 pounds capacity and 250 double hopper coal cars of 80,000 Interest and dividends 85,747 pounds capacity have been added to the equipment. The Net Income $674,619 $817,726 total amount of the purchase was $521,422, in settlement of Deduct— which the company paid cash, $76,422, and issued bonds, Taxes $67,467 $70,392 upon the equipment purchased, for the balance, $445,000. Rent of Addison Railroad 15,000 15,000 Interest 390,783 384,510 These bonds draw ±% per cent interest, and mature at the rate of $33,000 per year. Practically all of our equipment is Total $473,250 $169,892 now supplied with automatic couplers, and 50 per cent of the Surplus $201,369 $347, «34 Divldendson pref. stock rolling stock has been equipped with air brakes. (4%)169,5(>4 <2°6)84,782 Consolidation.—Acting upon the authority granted the Balance $31,805 $263,052 Rutland Railroad Company by the Legislature of Vermont BALANCE SHEET JLNE 30. at the session of 1900, the following subsidiary roads 1901. 1900. 1901. 1800. were consolidated with the Rutland; their capital stocks, A.-sits— $ $ LinbiW its— $ Construction. 16,909,295 7 644,919 Common stock.... 211,400 2.4M>..eOO being the amounts named below, were canceled, and pre- Equipment 1,584,860 2 .2X0,2(8 Preferred stock.... 8,567.300 4,239100 1 ferred stock of the Rutland RR. to the total indicated was ]{ t_'l I Bfl t H 1) 134,485 Bonds (see Ix- Stocks and bonds" 3.7 29,323 +2 90U.428 VE.STOKS'SCPi\)10. 8,500,000 issued in lieu thereof, viz. Supplies 137,027 164,07s Notes payable 1,547,221 2,. 95.000 Slock Rutland Accounts rec'v'blo 207,808 378,510 Conpone 1 12,931 Canceled. Pre/. Issued. Mortgage ref'dintr 3,377 I npaid dividends. 3,4tJ9 3.115 on Accou.its Rutland-Canadian $1,600,000 $1,300,0(10 Cash band in payable. 229,162 472,599 banks 168,881 182,202 Pay rollacct.. J'ne 61,145 64,906 BennlnKton & Rutland 1,000,000 1,000,000 450. "0 Improvem'nt fund i 5(57,113 Ogdensburg&LakeChamDlain,pref l,5Oo,000 1,500,000 Profit and loss 96tf,009 5,472 Common Stock 2,900,000 290,000 Total 82,827,199 13,630,890 Total 22,827.190 13,e30,S9« Total $6,900,000 $4,090,000 * These securities are as follows, par value being given: Addison RR. stock, $435,000; Rutland preferred stock, $3,790,000; Rutland By this consolidation the capital stock of the Rutland Transit stock, $l,O0O,OuO; Rutland & Noyan stock, $100,000; Rutland Road has been increased to $8,768,700, but (preferred) stock Transit 5% bonds, $646,000; Rutland

1008 THE CHRONICLE. [Vol. LXXIII. value »f Knox & Lincoln By. bonds, for whtoh, by the terms of Improvements begun at the time of our last report. With the road- merger of iliac company, this company has now bi-oome liable. The bed, stations and bridges In first-class condition, with all our old Knox & Lincoln Ky. capital stock of $^00,000. no longer possessing a equipment thoroughly rebuilt and II ted with automatic couplers, marketable Mime, lias lieou charged to profit and loss. with the addition of 1 10 new tralllo oars of a oapaolty of 60,000 Charges — By the refunding of $8< 0,000 1'ortland 0u peach trees in one orchard and Pass, transp't'n expenses. 346,667 334, i77 314,486 317,596 proposes to set out another 100,000 trees the coming season. Freight trans expenses... 512,520 490,311 448,369 413,796 The extension from Merrill to Hattieubnrg is now beiog constructed Motive power expenses... 1,078,938 952,958 832,053 751,6(38 and orders have been plaoed for new passenger equipment and shops Maintenance of cars 213,8b8 195,943 170,958 161,947 to be ereoted at Frasoatl, at which It is proposed to build our own Malnt. or way Asiruoi/r's. 1,206,895 786,165 708,593 719.501 freight cars, and extensive Improvements are to be made to oar ter- New equipment 114,928 203,201 204,113 74,9*0 minals at Choctaw Point in the way of increased yard facilities, Safety appliances for wharves, eto A large dredge has been purohased by the Gulf City equipment 26,034 270.945 76,667 26.642 Construction Oo to dredge the slips and heads of the piers to be Taxes 197,345 147,704 121,723 114,121 erected to the 23-foot Government channel, and when these terminals are completed we shall be in a position to handle any business which Total 4,159,684 3,901,674 3,105,061 3,111.365 may be offered. 1,711,249 1,617,037 l,fc47,436 Net earnings 1,708.862 Earnings and expenses compare as follows : Other income 92,390 85,744 81,071 63,040 Earning!— 1900-01. 1899-00. 1898 99* Total 1,801,252 1,796,993 1,698.108 1,710,476 Freight $107,840 $88,406 $41,786 Dediict— Passenger 28.346 21,825 10,373 Interest 604,222 584,870 599,365 633,907 Mail, express, eto 4,544 4,132 1,330 Rents 592,922 646,526 647,090 648,121 Dividends 298,554 298,543 298,531 29 ,527 Total $140,-30 $114,363 $53,489 Sinking fund 29,440 29,440 29,440 29,440 Operating expenses 64,4o8 57,372 26,679 Knox. &L.stk. charged off. 200,000 Net earnings $76,272 $56,991 $26,810 Total 1,725,138 1,659,379 1,574,426 1,609,995 BALANCE SHEET JUNE 30, Surplus 76,114 237,614 123,682 100,481 Assets— 1901. 1900. Liabilities— 1901. 1900. GENERAL BALANCE SHEET JUNE 30. Road and equip't.. 12,052,601 $2,052,600 Sto k .$1,000,000 $1,000,000 Materials, etc 7,834 10,83- Bonds . l.OOo.OOO 1,000,000 1901. 1900. 1901. 1900. Aaents 634 1,088 bills payable 16.424 83,756 Resources— $ $ Liabilities— I $ Cash 16,379 1,498 Other accounts.. 10.7E5 14,502 v. 4 ,9*8,000 4,988,000 Construction and Stock (In Sup.). Miscellaneous 2,477 1.084 Profit and loss .. 52,745 18,849 equipment 17,180,437 15,480,437 Bonds Unv. SUP.). 12 ,4 92,192 10,79^,192 Stocks and bonds. 288,472 488,472 Current liabilities. 315,537 H14,lol Total $2,0.9,925 $2,067,10? Total .$2,079,925 $2,067,107 vouchers 565,435 Cash 491,:il6 322,318 Audited 487,336 -V. 71, p. 232. Note8 receivable.. 152,818 156.000 Notes payable . . lOu.OOO Materials aud sup- Interest ,rents,&c, Alabama Great Southern Railroad. plies .... 621,211 029,43b not due 360,647 328,863 Agenis&cond'tors 130,317 100,998 Sunory lease acct. 104,934 111,139 (Report for the year ending June 30, 1901,) fund 68,33.5 68,3 >2 Traffic balances .. . 242,418 181, *21 Injury Companies and in- Sinking funds .. .. 626,306 57 1,442 The comparative tables of earnings and the balance sheet dividuals 109,H)9 190,801 For equipment.... 175,0. Sinking funds 623,306 671.442 Profit and loss 252,161 20i,»30 were given in the Chronicle of Ang. 31, page 443. Presi- Other items 30,441 19.730 dent Spencer says in part:

Total 19,773,644 18,140,885 I Total 19,773,544 18,140,885 There has been no ohange during the year in the amount of capital -V. 73, p. 442. stook or funded debt outstanding. The total charges to capital ao- Portland & Romford Falls Ry. count were $121,492, representiag the cost of loo coal cars and one steam shovel. No charges were made to oapltal account for expendi- ('Report for the year ending June 30, 1901, ture upon roadbed or structures. The reserve accounts for replacement and for maintenance appearing in the balauoe sheet are repre- President Hugh J. Chisholm says in the report: sented by cash on hand, reserved and held sepa ately from current Tbe results of the year's operations are satisfactory, and we look for cash, to be used, when required, for th* purposes stated. a continuance of the prosperous conditions at present existing along Equipment obligations were inourred during the year (eovenng in the line of the road. Large expenditures have been made in improv- part the eight locomotives oontraoied for in the previous year) in the ing the terminals at Butuford Falls, and new 80 pound steel rails have sum of $104,9y6, and equipment obligations for $107,u52 were paid been purchased to re-lay the entire In e between Gilbertvllleand Rum and ohareed to reserve account for the replacement of roiling stook. ford Falls. Changes have been and are now being made in the align- Total <-quipment obligations outstanding June 30, 19<>l, $17 1, 7 11. The ments and grades at different points on the road, so that by the end of net changes In the equipment during the year consisted of an increase this season the section between Mechanic Falls and Rumford Falls of 2 locomotives and I road service oar, and a decrease of 75 freight will have been praotloally rebuilt in avery substantial manner. Work oars, the replacement of which has been fully provided for through Is now progressing on the new stone arch bridge at mottle's, together operating expenses. Contracts have been made during the year for 4 with the change of alignment between that point and Mechanic Falls. freight locomotives, 100 double- hopper coal cars and loo plain box This oompany has no floating debt. earn, which wl'l more than make good the deflolency stated. Earnings.—Earnings, etc., have been as follows: The gradual improvements in the physical condition of the roadway and equipment oontinue to show increased operating efficiency, as EARNINGS, EXPENSES AND CHARGES. will bo seen from the following statistics: The average number of oars 1900-01. 1899-0. 1898-9. 1897-8 in each freight train inoreased from 2b- 17 in 1900 to 2*12 in 1901, Earnings— $ $ $ $ or 11'27 per oent. The average number of tons of freight io eaoh train, Passenger 94,568 69 823 58,-259 64,617 (inoluding company's material) inoreased from 334-03 in 1900 to 270,692 230,287 212,231 1901. or 11 04 cent. freight reoeipts Freight \ 331,489 37092 in per The average per Mail, express and mlacel 35,435 36.663 46,195 22,197 freight train mile, which in 1900 were $2 22, in 1901 were $2 54, an increase of 14-53 per cent. Total earnings 461,493 377,178 334,741 299,045 The industrial growth along the line continues. During the year 21 Operating expenses 286,297 247,448 184.266 175,067 new industries began operation, with a capital investment aggregating $i43,5ou. while additions to and extensions of old industries in- Net earnings 175,196 129,730 150,475 123,978 creased the oapltal Investment by $3,642,000, making the total new

Interest and taxes 64,480 59,127 61.576 66,282 capital invested during the year $4, > 85 500. The additions to and Dividends on stock 60.OOO 40,000 60.000 40,i 00 extensions of old industries, increased the capital investment by $3,- 642,000, making the total new capital invested during the year $4,- Surplus after charges and divs... 45,716 30,603 28,899 17,696 08 ',500. The additions to and extensions of o d ind istries were prin- BALANCE BBEKT JUNE 30. cipally upon pig iron furnaces in th9 Birmingham District.

1901. 190 ). 1P01. 1900. General Manager F. S. Gannon says in part: S I $ $ There were laid -luring the year 1,773 tons of new 75-pound steel Construct'n, equip- Capital stock 1,50\000 l.OOO.'W ment, etc 2,260 010 2.259,567 Bonds 1,342,000 1,344.0 rail, replacing 60-pound rail, as against 1,144 tons in the previous Cash 67.943 67.813 Coupons not due — 12,447 12,180 year. The weight of rail In main track owned June 30, 1901, was as Mater, and supplies. 43,638 4o,004 Taxes, not due 4.3'.n 1868 follows: 75-pound steel rail, 92-35 miles; tto-pound steel rail, 198-14 Siks. & bonds owned 366,202 201.202 Bill,Hulited 37,3.o7 52,620 miles. Daring the year 106.671 cross ties were put In the track, con- Accouuts payable... 28,764 20,487 Notes receivable ... 410.400 65,000 trasting with 1 8,132 in 1899-1900. The number of miles of ballasted fund.. 20 5-19 8,467 Appropriations 34,'.J47 42.00J Trustee sink. track on June 30, 1901, was as follows: Alabama Great Southern BR., Accounts receivable. 34,196 51,015 Miscellaneous 2o,589 . Miscellaneous 4,475 Profit and loss 236,957 211,914 slag, lfcG*73 miles; cinder, 57-11 miles; total, 243-84 miles. Belt By., stone and slag, 14 milos.—V. 73, p. 443. ,~ Total 3,197.453 2,683,069 Total 3,197,453 2,683/ 69 -V. 72, p. 1188. m American Railways Company. Somerset Railway. (Report for the fiscal year ending June SO, 1901.) (Report for the year ending June 30, 1901. President Samnel G. De Conrsey says in part: in part: President Reuben W. Dann says General Besults.—Thenet income for the year was $226,106, being The gross earnings are 5 per cent In exoess of those of the previous equal to over 6 per oent upon the capital stook. In addition to the rear, the net earnings a trifle less. We have continued the permanent dividends ($160,124) declared by the subsidiary companies, they — A

~~November 9, 1901.] the niRONiru:. I0o<)~~

earned undivided Income fully equal to an additional 1 per oeut upon American Soda Fountain Company. your oapltal mock. With one exception the subsidiary oompaniea each yielded a ha' daome increase In i-toss earnlnuM. the ROM for (Report fur the year ending August 31, 1901.) 1901 being $814,2!»7, an against #778.04.! In 1900; although it should President James YV. Tufts says : be understood that as tw> or the subsidiary oompanlea were aol owned until March, 1901, the whole of theafl earning* did not Inure to '•We h °;nin report anet profit for the year and an increase of the American Kail ways Co That the companies did DOt make a Ml« available assets of $67,577, with a d« lea of results Is due principally to atlvely good BtlOWlng In their net the in- |41,841. The earnings and t-nrplns are sofflcient m amount crease In the cost of fuel; the substitution of ooal for aafnel gaa cancel considerable portion of (owing to failure of supply of gut); the Increase In the prion of labor to a the accumulated dividends and materials; employment of conductors where pn none had on the firnt preferred stock, but it, is (Itemed good policy not been employed, and also to the reduction In the price received for to immediately distribute the entire mrplns. lighting the city or Springfield Ohio. "The managers have recently secured several valuable Altoona & I.ooan Vallky Klkctbic Ry.-Od March 1 your company purchased a large majority of the outstanding stock of the Al- patents, all of which have been assigned to th^ company fcr toona & Logan Valley Eleotrio Ry Co. and also of the City Passenger its exclusive benefit. Our business in St. Louis outgrew the Railway Company of Altoona. Although these two properties have possible facilities in the property owned by the company in only been operated by your company for a period of three months, It Is gratifying to note their promise of growth. Pine St. of that city, and an exchange was made for other Chicago A jolikt Elkctrio Rr—The line of the Chicago & Jollet real estate there at $10,000 bonus, which amount has been Eleotrio Ky. from Lookport to Chloago would have been In operation paid to the oompany. The property taken in exchange we except for vexatious deUys In obtaining material and In regard to hope Boon to sell." The report also says : right of way. It Is confidently expeoted that this extension will be open for irailic by the seoond week in September. [The line was form- The oompany has always maintained the highest standard of credit

ally opene < Hept. 2ft.— En. ] The rails laid are 70-pound T-rail, except and all its purchases are made upon the most favorable terms for through villages, where girder rail of 73 pounds wasjused. The en- prompt cash. The manufacturing plants are operated with the utmost tire track as laid has been ballasted with orushed stone, exoept about regard for system and eoonomy. As in the past, the managers will one-half mile, whloh was ballasted with gravel. The masonry and take pleasure in showing to stookh >lders at any of its works the inter- Iron bridges are of a thoroughly substantial character. For this new esting labor-saving devices employed and explain the methods and service 8 oars have been oontraoted for. The building of this line has development of both faotorles and management, whereby it is demon- been paid for in oash, and this accounts for the major portion of the strated that our products are not only manufactured at a minimum Item Of $i.22.->,000 of outstanding bills payable on > our company's oost, but by a simple and accurate system the exact cost of material, balance sheet. When the securities of the Chicago & Jollet Eleotrio labor and factory expense on eaoh and every article manufactured is By. Co. are negotiated, thece bills payable will be paid. dearly and absolutely determined. It Is by the enforcement of eaoh By reason of a oontraot made with the Economy Light & Power Co., system that we safeguard the interest of the stockholders. whloh will begin to furnish power in July, 1901, the disadvantage heretofore labored under by the Chloago & Jollet Eleotrio Ry. (City balance sheet auoust 31. Line) will be done away with and power will be furnished ns at a rea- Assets- 1901. 1900. 1899. sonable figure. Real estate, patents, eto *$1,938,075 $1,970,689 $1,999,081 Peoplk'8 Rt.—Several extensions of the People's Railway of Customers' notes ($1,067,063 In Dayton, ().. are contemplated, provided oity ordinances can be ob- 1901, lees reserve, $62,867).... 1,004,196 1,056,214 879,183 tained on terms not too onerous. Two lnterurban lines are now ap Cash on hand 110,136 93,297 63,869 proachii g completion a> d a third is under consideration, eaoh of which Accounts reoeivable ($451,648 in has made arrangements to use the tracks of the People's Railway Co. 1901. lessreserve, $111,767).... 339,881 206.284 221,171 in the city of Dayton When these properties are in cperation they Merchand'e manut'd & In process. 858,295 855,364 813,171 should be the source of considerable increase in the revenue of said Miscellaneous 6,619 7,777 5,782 company. Surplus fund def. 95,330 The following are the railway properties .the and mileage Total ,$4,257,202 $4,189,625 $4,077,586 now constructed, computed as single track. Liabilities— Capital stock ELETRIC RAILWAYS CONTROLLED. $3,750,000 $3,750,000 $3,750,000 Acoount s payable (not due) 132,272 84,516 70,129 June 30, Added June 30, Loans (unsecured) to oompany by 1900. Since. 1901. its managers 45,592 1T158,825 Miles. Miles. Miles. Notes payable 182,335 225,840 98,632 Springfield fO.) Railway Co 25 20 27 00 Surplus fund 192,595 83,667 Brldgeton (N. J.) & Millvllle Trao. Co.. 23 02 2320 People's Railway Co., Dayton, 22 00 2200 Total $4,257,202 $4,189,625 $4,077,586 Chicago & Jollet Eleotrio Ry. in Jollet * and toCooh County line, 111 21 200 4100 Real estate, $17,550; machinery; tools, fixtures, etc., $667,837; Chloago & Desplaines Valley Eleotrio patents and good-will, $1,589,808; total, $2,275,195; from whioh has Ry., Will County line to city of Chio.00 23-5 235 been deduoted for deterioration since the formation of the oompany, $337,120. fl Additional loans from managers, secured by oustomers' Altoona (Pa ) & Logan Val'y Eleo. Ry.Not owned 18-7 18-7 City Passenger Ry., Altoona Not owned 7-5 750 notes, held as collateral, were In 1899, $341,752. [A dividend of 6 per cent on the first preferred stock, call- Total 91 71-9 1629 ing for $75,000, was declared this week, payable Nov. 20, LIGHT AMD POWER COMPANIES CONTROLLED contrasting with 3 p. c. in 1900 and none in 1899.]—V. 71, p.

Springfield Light Florence, Ala., a mortgage for $1,600,000 to the Knickerbocker Trust Co. of Gross inoome $274,624 New York, as trustee. The mortgage covers the road pro- Deductions from income— jected from Florence to Clifton, distance of 80 miles, General expenses $37,741 Tenn., a Prlutlng and registration of stock, stamp tax 4,957 "through one of the richest brown ore fields in the country, Expense, legal 897 and tapping a rich farming and timber section." J. L. Bell Taxes 4,188 29 Broadway. New York is President and George A. Sykes is Depreciation of office furniture, fixtures, eto 734 Treasurer. The line is surveyed and cross-sectioned the entire Total deductions from income $48,517 distance and %% miles are graded. The bonds are 50 year gold Net Income 5 per cents, dated Aug. 81, 1901, and issuable at |2 »,000 $226,106 mile; Dividends paid 112,530 a the interest is payable in February and August at the Knickerbocker Trust Co., trustee. Surplus $113,576 Atchison Joint Oumer- Surplus as of June 30, 1900 (as reduced by $2,000) 92,737 Topeka & Santa Fe Railway— ship.— We have confirmed the report that the purchase Surplus June 30, 1901 $206,313 of the Kansas Southwestern was made in conjunction with BALANCE SHEET JUNE 30, 1901. the St. Louis & San Francisco, and tbat the two companies - Assets Liabilities— will hold the road in joint ownership. S=e V. 73, p. 898, ft-4'3. Stocks and bonds, cost. -r$3,414,8P0 Capital stock...... $3,751,000 Bills receivable, etc 164,409 Bills payable 1,225.000 Blue Ridge Ry. Mortgage. —This reorganized com- Tax on stock July 1 to Bills audited, not paid. 20,631 pany has made a mortgage to ttie Standard Trust Co. of New Deo. 81, 190i 1,688 Accident insur'ce fund. 20, '294 York, as trus.ee, to secure $100,000 of 5 per cent 50 year gold Furniture and fixtures. 2,ft02 Interest acor'd.not due 1,350 bonds, . 783, 137. Engineering lnstrum'ts 108 Balance one sub-com- to cover the cost of buying the road —V. 73, p. Discount on loans 1,555 panies 71.820 for the quarter Div'ds Boston & Maine RR.— Quarterly.—Earnings on stook owned, Profit and loss, surplus 206,313 ending : declared but not due. 31 ,681 Sept. 30 were Du Page Construction 3 mos. end'g. Gross Ket Other Interest, Balatict, Co., advances yl,603,702 fept. 30. earnings earnings, income, taxes, etc. surplus. Port Norris Extension 190 $8,680,462 $2,870,647 $111,871 $1,999,811 $98*,707 Bridgeton

to the following conditions: Bondholders desiring to exer- Little; Treasurer, .1. W. Ollluly; Assistant Treasurer, Jesse White, J. B. Andrews was cise this right to give the company thirty days' noie in elected AHslstani Secretary lor Denver 0. Operation of the three different lines, now 1 P. m. on Nov. 21, 1901."—V. 73, p. 956, 444. separate, will be oonduoted as one and a single power house of 20.000 Cape Breton Ry.—Mortgage.—The companv has filed horsepower will be constructed to operate the 50 miles of traction line. The eleotrio lighting oontraet for the two towns for a period of its mortgage for the Tru3t Co. of $2,403,000 to Standard New ten years has been secured. Government franchisee seoured for the York, as trustee —V. 73, p. 183. traction lines are for 50 years.— V. 73, p. 494. Champaign & South Eastern RR.—Foreclosure.—A suit Elgin Aurora & Southern Traction Co.—Bonds Offered. has been filed at Springfield, III., the trustees, to foreclose by —W. E. Hutton & Co., 35 New St., New York, are offering a mortgage made by this company in 1881. The Wabash St. at 101 and interest by advertisement on another page $1,700,- Louis Pacific Ry. (predecessor of Wabash RR. Co.), at & 000 of this company's 5 per cent gold bonds; dated June 1, the request of the Eastern Co., issued Champaign & South 1901; due June 1, 19 6; interest payable at the American certain of its bonds to the amount of $174,01 and delivered Trust & Savings Bink, Chicago, trustee, or the First Na- to them the Champaign Company for use in paying for the tional Bank, New York. Capital stook, $2,000,000; author- construction and equipment of that railroad; and, thereafter ized bond issue, $2,000,000; reserved against underlying the mortgage now sought to be foreclosed was male a3 bonds, $300,000; balance now offered, $1,700,000. These further security for the holders of these Wabash bonds. The bonds are a lien upon the street railways in the cities of road extends from Champaign. 111., to Sidney, 111., 12 miles. Elgin and Aurora, Illinois, and the interurban railway ex- Chicago Burlington & Qaincy RR.—Directors and Control. tending from Carpentersville through Dundee, Elgin, St. —See Northern Pacific below.—V. 73, p. 899, 842. Charles, Geneva, Batavia and Aurora to Yorkville. Chicago & North Western Ry.—New Bonds.—The com- The following statement is furnished for the month of pany in its last annual report (V. 78, p. 293, 294) gave con- September 1900 and 1901 and the year ended Sept. 30, 1901: siderable information regarding its various new branch lines, . September. > Year but at the time the October issue of the Investors' Supple- 1900. 1901. 190001. Gross reoelpts $29,485 $34,107 $353,692 ment was going to press the company was not prepared to Operating expenses 17,620 16,668 204,788 make public the facts regarding the new bonds to be issued thereon. We have now been favored with copies of the Net $11,865 $17,438 $148,904 Interest lOO.COO mortgages securing the several loans, and supply the lacking details as follows: Balance $48,904 Fii-sl M. (all gold)— Date. Miles. Interest. Authorized. Maturity. — V. 73, p. 783. Mankato&NewUimRy.l899 26 3^% A-0 $416,000 Oct. 1,1929 Erie RR.— Quarterly. —Earnings for the quarter ending Southern Iowa Ry 1900 56 3^2% MS 1,120,000 Sept 1. 1925 Sept. 30 were: Princeton & No West... 1901 105 3i*% J J 2,100,000 Jan. 1, 1926 Peoria & North West.... 1901 85 3^% M-S 2,125,000 Mar. 1, 1926 3 mos.end. Gross Net Other Interest, Balance, The bonds may be issued as $1,000 coupon bonds or Sept. 30. earnings. earnings. income. taxes, etc. surplus (except 1901 $10,023,489 $3,812,368 $52,395 $2,597,396 $1,267,868 Mankato & New Ulm 3J^s) as $5,000 or |10,000 reg- 1900 8,910,124 2,893,352 42,400 2,213,257 822,495 istered bonds without coupons. The Farmers' Loan & Trust —V. 73, p. 615, 444. Co. is the mortgage trustee for all four loans. For de- Georgetown & Lexington Traction Co.—Bonds.—The scription of roads mortgaged, see annual report above men- "Cincinnati Tribune" on Nov. 5 said : tioned.—V. 73, p. 444, 291, 285. The directors last night at a meeting in the rooms of the Cincinnati Cincinnati Georgetown & Portsmouth RR.—New Stock Trust Co. arranged for the issuing at onoe of $250,000 In bonds for the of Its President Y. and Bond*.—The shareholders will vote at Cincinnati, O., completion the road and equipment. Alexan- der of Construction Dec. Brooksvllle, Ky, presided. The O C, Tennis Co. 3, on a proposition to increase the capital stock from of this city Is building thfc road. The entire line from Georgetown to $525,000 (of which $125,000 is preferred) to $1,500,000; also Lexington is graded, and It Is expected that It will be finished and in to make a mortgage to secure $1,500,000 of 5 per cent bonds, operation in lees than ninety days. interest payable semi annually. In 1900 a 4 per-cent mort- Great Falls & Canada Ry.—See report of Great Northern gage for $500,000 was created, of which $252,000 was issued Ry. in Chronicle of Oct. 26, page 901.—V. 73, p. 662, 287. to take up old 6s. Of the proposed 5 per cents .sufficient will Iowa & St. Louis Ry.—Extension.—New Stock and Bonds. no doubt be reserved to retire at or before maturity the 4 per —The shareholders will meet in the Guardian Trust Co. cent bonds of 1900. R E. Field is Secretary, office Union Building, Kansas City, Mo., on Dec. 30, for the purpose of Savings Bank & Trust Co. Building, Cincinnati.— V. 73, voting on a proposition to increase the capital stock in the p. 722. sum of $700 000 and to amend the charter so as to permit the Cincinnati New Orleans & Texas Pacific Ry.—Extension construction of a railway from the present terminus of the of Lease Approved by City Vote. —At the special election line north through the counties of Putnam and Schuyler in held by Cincinnati Tuesday the propositions to extend the Missouri and Appanoose in Iowa to a point at or near Cen- lease of the Cincinnati S anthem, per terms in V. 73, p. 723, treville, Iowa, and in a southerly direction through Adair and to issue $2,500,000 of city bonds at the rate of $500,000 per and Macon counties in Missouri to a point at or near Elmer, annum for the improvement of the road's terminals, were Missouri, a distance of 50 miles more or less; also to vote on a carried by overwhelming maj rities, the vo^e being 47,354 to proposition to issue bonds of the company in the sum of $15,- 15,067 in the case of the lease and 45,483 to 14,590 in the case 000 per mile of road constructed, to help cover the cost of of the bonds.— V. 73, p. 722, 444. building and constructing the road and purchasing necessary Cincinnati Northern RR.— Majority of Stock Deposited.— equipment. The company was originally incorporated in The committee, consisting of W. R. H. Martin, H. F. Dawes May last with $50,000 capital stock to build from Novinger on and A. R. Gallatin, which has been requesting deposits of the Omaha Kansas City & Eastern in Adair County, Mo., certificates of Cincinnati Northern, Detroit Toledo & Mil- to Sibley Point, a distance of 5 miles. The directors are: waukee and Cincinnati Jackson & Mackinaw stock cer- H. F. Reddig, L. A. Irwin, H. H. Kendriok, W. S. MoCaull, J. B. Delaney, W. J. Stoneburner. tificates, announces that a maj arity of the certificates for Cincinnati Northern and Mackinaw stocks have been de- Several of these directors are connected with the Omaha posited with the committee and that the remaining holders Kansas City & Eastern RR. who fail to deposit with Schmidt & Gallatin, No. 45 Broadway, Kansas City Suburban Belt Ry.—Sale.—The Federal New York City, by Nov. 11, will subject themselves to Court at Kansas City on Nov. 6 made a final decree ordering penalties.—78 p. 783. the foreclosure sale of the pronertv of this company, the Delaware Lackawanna & Western RR.—Quarterly.— Consolidated Terminal Ry. Co., the Union Terminal Ry. Co. Earnings of the company's leased lines in New York State and the Kansas City & Independence Air Line Ry. Co, The for the quarter and the nine months ending Sept. 31 were: bonds are practically all owned by the Kansas City Southern 3 months ending Gross Net Interest, Balance, Ry.-V. 73, p. 616. Sept. 30. earnings. earnings. taxes, etc. surplus. Lake Shore Electric Ry.—Mortgage. —This company has 1901 $2,383,178 $1,102,421 $618,318 $484,103 filed at Cleveland. O., its new mortgage for ",000, the 1900... 2,098.509 915,055 605,329 309,726 $6,00 9 months. Western Reserve rrust Co. of Cleveland being trustee. See \*°} $6,392,978 $2,931,619 $1,856,301 $1,075,318 particulars in V. p. 784; V. 73, p. 843. 19 73, 9°av 5,511,136 2,423,576 1,811,636 611,940 See -V . 73, p. 287. Lehigh Valley Traction Co.—Guaranteed Bonds.— Quakertown Traction Co. below.—V. 73, p. 616, 391. Denver & Rio Grande RR.— Officers —The directors on Thursday elected the following officers: Logansport & Toledo Ry.— Joint Control. —Associated

1 this n an Board, George J. Gould; President. E. T. Jeflery; Vice- with the Pennsylvania Company in the acquisition of rresiaentT>£ ifil \ °i and General Manager, Russell Harding; Secretary, Stephen road (formerly the Eel River RR.), it transpires, was the — : : —

~~November 9, 1901.] THE (HRONICLK 1011~~

Pittsburg & Lake Erie RR. (controlled by the Lake Shore A of tax. The property of the new company, together with the Michigan Southern), the managers of the new company in- property of the Pittsburg St Birmingham Traction Co., with cluding Colonel J. M. Schooninaker, Vice President ai.d Gen a stock of $8,000,000 and a rx>nded Indebtedness SS per stftte' eral Manager; J. G. Robinson, Secretary and Treasurer, and ment iu Bt&eei Railway Si ppli and the Frank A. Dean, General Freight Agent of the P. & L. E. Monougahela Light & Power Co., with a capital stock of $!,•

it is 70it,i.oo and a bonded Indebtedness ol i V. The Lake Shore and Pennsylvania companies, an- $1,71 00 I 89, p. 885, nounced, will unite to make a Toledo St. Louis route, using will be leased to the Philadelphia < for a term of the Lake Shore to Bntler, Ind., the Kel River to Logansport, 999 years from Jan. 1, VMi. The stool Pittsburg & and the Vaudalia (a Pennsylvania line) to St Louis. The Cbarleroi Street Ky. Co., the Blair ^ Pfc, View St! Co. route, it is said, is only 16 miles longer than the Wabash.— and all other companies under control of Mellon & Sons, in to V. 73, p. 353. be passed to the Philadelphia Company under absolute sale. Loug Island RR.— Atlantic Avenue Improvement.— The — V. 72, p. 900, 723. Atlantic Avenue Improvement Commission recently awarded Philadelphia & Lehigh Valley Trad Ion Co.— (. t-ed contracts aggregating §989,665 in connection with the plan Bonds. -Sea Quakertowu Traction Co. below.— V. 73, p. 64 for eliminating grade crossings on Atlantic Avenue. — V. 73, Pitt>bnrg & Western Rj.- Company's .Xurr uge p. 612, 391, 389. Diri.non leased.— See Bradford Bordell &c Kinzua Ry. above. Market Street Ry. of San Francisco.—Negotiations Re- — V. 78, p. 785, 415. ported Closed. — A press despatch yesterday from San Fran- ({uakertown (Pa.) Traction Co.— Guaranteed Bonds. — cisco said that George R. Webb of Baltimore, R. G. Han- C. Taylor Leland and Howard L. Chandler of Philadelphia ford and Attorney- General T. L. Ford of San Francisco, are offering this company's $300,000 5 per cent first mortgage representing the Baltimore syndicate, are understood to have 30-year gold bonds, guaranteed both as to principal and in- closed negotiations with H. E. Huntington and I. W. Hell- terest by the Lehigh Valley Traction Co. and the Philadelphia man for the purchase of at least a controlling interest in the & Lehigh Valley Traction Co. of Allentown, Pa. These $18,617,000 stock of the Market Street Ry. The purchase bonds are dated Sept. 1, 1901, are free of all Pennsylvania is Erice has not been made public, but supposed by some to State tax; denominations of $1,000, $500 and $100.— V. 73, p. e as high as $95 per $100 share. Mr. Webb and asscciates 616. recently purchased the San Francisco San Mateo Electric & Railways Company General.—Listed in Philadelphia.— Ry. and the Sutter St. Ry. (V. p. 873, 723; V. 73, p. 139.)- 72, Theoompany*s $1,140,000 capital stock in $10 shares has been V. 73, p. 616, 391. regularly listed on the Philadelphia Stock Exchange. V. 73, It Mexican Northern Ry.—Reported Sale.— is reported p. 900, 723. that this road has been acquired by the Pierce syndicate, Railways & Light Company of America.— Official State- which controls the Mexican Central. It will be used in con- ment. —We have been favored with the following from an nection with the proposed extension of the Fort Worth & officer of the company Rio Grande to form a through line from Kansas City & St. This company was organized under the laws of New Jersey with an to the City of 581. Louis Mexico.—V. 72, p. authorized capital of $25,oc0,000, part of which only has been thus Mobile Jackson & Kansas City RR.—Acquisition.—This far paid in, to do a general contracting and engineering business, to company has acquired the Kingston & Central Mississippi purchase, own and operate electric plants, street railway plants, water properties, gas properties, etc. The company Is now interested RR., extending from Laurel, Miss., to Bay Springs, 25 miles. in quite a number of plants in the South, but, as we have not yet gut- See report on page 1008.— V. 71, p. 232. ten fairly under way. I cannot give you a complete list of these. By the first of the year, however, I should be very glad to furnish you Montana & Great Northern Ry.—See report of Great with a list of all our interests. Otlicere: J. Wm. Middendorf, Presi- Northern Ry. Chronicle Oct. 26, page 904.—V. 73, p. 185. dent; R. Lancaster Williams, Vice President; A. H. Rutherioord, Treas- urer; H. P. Page, Secretary; E. C. Hathaway, General Manager. Office, Awarded. — The $115,- Newton (Mass.) Street Ry.—Bonds 1500 Continental Trust Building, Baltimore, Md.—V. 73, p. 185. 000 of 5 per cent bonds due July 1, 1912, have been awarded Richmond Fredericksburg & Potomac RR.—Maturing to H. W. Poor & Co. at 10817.— V. 73, p. 843. Bonds.—Tho $296,000 of 6 per cent bonds of 1870, maturing Nashville (Tenn.) Ry. Status. —No plan of reorganization Nov. 1, were paid on presentation at the office of Townsend has as yet been effected or agreed upon. There are outstand- Whelen & Co., 309 Walnut St., Philadelphia. ing certain prior lien bonds upon which intert st was recently Union Line Established Nov. /.—On Nov. 1 in accordance past due, such deferred interest of course bearing interest at with the plan in V. 73. p. 843, the operation of the Washing- 6 per cent against the company. The receivers deemed it ton Southern Ry. extending from the south end of Long proper to pay off this interest out of the net earnings of the Biidge, across the Potomac, to Qaantico, Va., 32 miles, was company, as the issues upon which the interest was due turned over by the Pennsylvania RR. Co. to the Richmond would probably not be affected by the foreclosure. It is Fredericksburg & Potomac RR. At the same time E. T. D. hardly thought that a readjustment plan will be adopted Myers, President of the latter company, assumed the presi- before the 1st of December. See coupon payment, V. 73, dency of the road, and J. B. Winston became the Secretary p. 957. and Treasurer.—V. 73, p. 33. Northern Pacific Ry.—Settlement.—The basis of an agree- Richmond-Washington Co.—See Richmond Fredericks- ment ** as finally reached this week between the Hill-Mor- burg & Potomac RR. Co. above.—V. 73, p. 843. gan interests on the one side and Loeb the Harrimat-Kuhn, & Rntland RR.—New Stock— Official Circular.—A circular Co.- Union .Pacific interests on the other. This agreement, addressed to the holders of preferred stock says understand, provides for latter we the sale by the of their The following is a copy of a resolution passed at a meeting Northern Pacific majority holdings; also full satisf action of the directors held Oct. 31 : and protection to the Union Pacific people in the matter of Resolved, That this company sell 35,784 shares of Its preferred capi- the Chicago Burlington & Quincy. The legal details in- tal stock, now held in its treasury, and that the same be offered to Its volved in this important matter have not been worked stockholders of reoord Nov. 9, 1901, at the rate of $90 per share upon

the : shall have the right en or out, and it is not possible as yet to make any announce- following terms That said stockholders before Nov. 15, 1901, to subsoribe for the same proportion of said ment further than that an amicable settlement of the con- shares of stock as the number of shares standing in their names bears controversy has been reached. to the whole number of shares of the preferred stock now outstanding, The plan under consideration involves the formation of and at the time of such subscription deposit with the Treasurer of this company the sum of $25 for each share subscribed for. and further two proprietary companies, one to hold the Northern Pacific agree to receive said stock and pay the t alance of the purchase price and Great Northern stock and the other to lease and operate upon Jan. 2, 1902; and, Resolved further, that such number of said the Chicago Burlington & Quincy. In the latter road the 35,784 shares of stock as are not subscribed for by said siockholders herein provided, Union Pacific, while holding no money interest, will have a on or before Nov. 15, 1901, and taken and paid for as shall be sold or delivered to such person or persons as by agreement one-half representation in the control. The annual meeting with this company shall bind themselves to take and pay for the bal- of the C. B. & Q. in Chicago this week was adjourned to the ance of said 35.784 shares of stook not taken by the stockholders un- per share, and that 14th inst., at which time it was announced the names of the der the terms of this resolution, at the price of $90 the President be and hereby is authorized! to make and execute the new board of directors would be made public. It was re- necessary agreements to carry this resolution into effeot. ported that at the meeting E. H. Harriman, James Stillman, "This resolution entitles each holder of preferred stock of Jacob H. Schiff, Robert Bacon, Norman B. Ream and H. record Nov. 9th inst. to subscribe for such new stock at the McK. Twombly were elected directors, but we understand ratio of two shares of new stock for each three shares of old. that these names are not altogether correct.—V. p. 843, 73, transfer closed from Nov. 9 to Nov. 15. 723. The books will be After the books are closed Nov. 9 forms for subscription to Old Colony RR.—New Stock.—The Massachusetts Railroad the new stock with notice of arrangements for receiving sub- Commission has approved the proposed issue of $150,000 scriptions will be sent to each holder." additional capital stock for purpose stated in V. 73, p. 957. Annual Report.— See page 1007.—V. 73, p. 958, 785, 781.

: Omaha & St. Lonis RR.-See Wabash RR.—V. 73, p. 843, St. Lonis & East St. Lonis Electric Ry—Sold.—The ' St, 392. Lcuis Globe Democrat" says that a syndicate headed by purchased control of Philadelphia Co. of Pittsburg.—Approved.— Over 85 per Granger, Farwell & Co. of Chicago has it is paid, will be organized cent in interest of the stockholders of the Consolidated Trac- this property. A new company, of 5 percent bonds. tion Co. has assented to the terms of the proposed sale. See and will issue $500,000 stock and $450,000 V. 73, p. 554, 723. San Antonio & Aransas Pass Ry.— Listed in London.— Mellon Properties.— Regarding the Mellon properties, we The $18,900,000 first mortgage 4 per cent 50-year gold bonds learn authoritatively that it is proposed to merge the Monon- of 1943 were recently admitted to quotation on the London gahela Street Ry. Co., the Wilkinebnrg & East Pittsburg Stock Exchange.—V. 72, p. 627, Street Ry. Co., the Wilkinsburg & Verona Street Ry. Co. Schenectady (N. Y.) Ry—Bonds Sold.—N. W. Harris & and the Pitcairn & Wilmerding Street Ry. Co. into a com Co. have sold $900,000 of this company's first mortgage pany to be known as the Monongahela Co., Street Railwav 4}0 gold bonds, due Sept. 1, 1941. An advertisement says: which new organization will have a capital stock of $7,CO0,- Secured by first mortgage on the entire street railway system, whii h 000 and a bonded indebtedness of $1,400,000, 5 per cent, free operates under liberal and perpetual franchises In Schenectady and — : :

~~1012 THE OHKONIOLE. [Vol. LXXIII.~~

Its suburbs, including a branoh to Albany and one In process of con- Western Maryland RR.— Fepnrt of City Directors.—Re- struction to Troy. Also secured by tlrHt mortgage on the property of sume of Amount Due Cily.—Tht Baltimore city directors.viz.: the Soheneotady Illuminating Co., controlling the entire electric light imiiiiiwK in the city. an«l whloh has been in successful operation for a Robert O. Davidson, W. T. Dixon, T. It. Clendlricn, Mantles Cohen, number ii f years. A strong tlnannlal an l teolintnal management la John A. Tompkins, George R. Galther, F. A. Fumt, II. Irvine Keyser, entire assured In The ownership by the General Electric Co. of the on Oct. 31 sent to Mayor Hayes their report regarding the Issue of capital stook. road, and in connection therewith furnished a ptatement of farther particulars in 41)5.—V. 73, p. 554. See V. 73, p. 445, the indebtedness of the road to the city. The report recom- Seaboard Air Line Ry.— Consolidation.—The articles of mends that the city's advances for the payment of interest agreement of merger completing the corporate consolida- and purchase of coupons, amounting to $3,920,676, be funded tion under the name of the Seaboard Air Line Railway, of into a preferred stock of the railroad company, and that the various railroads embraced in that system bnt heretofore interest on the advances, amounting to $3,53i,009 additional, operated nnaer separate charters, were filed on the 7th inst. be funded into the common stock of the company. The al- with the Secretaries of State of Virginia, North Carolina, ternative proposition of the directors is to sell the road at South Carolina and Georgia. The roads embraced in this public auction under the mortgage liens held by the city. consolidation include — The report says in part In view of the fact that the railroad company is now paying the cur- The Raleigh & Gaston RR , the Durham enod of time We would recom- lowed shortly by the further merger and consolidation with mend, therefore, that this indebtedness as Btated be funded as to the the corporation tbu-* formed of some 490 additional miles of sums advanoed Into a preferred etock of the railroad company, and that the Interest from time to road of which the Seaboard Air Line Railway already owns on the advances made time as above stated be funded into the common stock of the company. every phare of stock, including the Georgia & Alabama Ry.. The alternative proposition to this would seem to be a public sale of from Savannah, Ga,., to Montgomery, Ala. The Staboard the property under the mortgage liens held by the city. This might be of city of Baltimore. Air Line Railway also operates as part of its system the deemed an ungracious act on the part the It will doubtless be necessary, should this proposition to fund the Florida Central & Peninsular RR., of which it owns about arrearage meet the approval of the Mayor and City Counoil, that 99 per cent of the capital stock; and the Seaboard & Roa- proper authority be obtained from the next Legislature authorizing noke RR., of whose capital stock it owns about 94 per rent. this proposed funding and issue of stock. V e believe that thus the affairs of the city in connection with the road will be placed upon a Bonds. As a result of the consolidation jnst perfected, the — practical, business like basis, and if thlsplan be accepted, the relations Seaboard Air Line Railway first mortgage 4 per cent bonds between the city and the railroad company will bee me of an entirely become a direct lien upon some 1,150 miles of road and a satisfactory nature, and all agitation In regard to the sale of the property may be indefinitely deferred. first and only mortgage upon some 275 miles thereof, including the main line from Richmond to Ridgeway, N. C, 103 The debt of the road to the city on Sept. 30, 1901, is stated miles; Hamlet. N. C, to Columbia, S. C, 107 miles, subject as follows only to $50,000 of bonds still outstanding on one of the INDEBTEDNESS TO CITY OF BALTIMORE SEPT. 30, 1901. branch lines. Other consolidations which are to follow will Total principal of debt x $4,783,272 bring under the Seahoard Air Line Ry. first mortgage about Less amount in sinking fund to credit of loan of 1927 160,695 80 additional miles of road, which will make the first mort- Net amount of principal $4,622,577 first of un- gage 4s a and only mortgage (subject to $150,000 Interest paid by city [in 1889-1891] to meet matured bonds on certain branch lines) on more than 350 railroad company's default $3,769,285 miles of road, and a direct mortgage, subject to the prior Interest now due or aoorued on securities In sinking fund 151,391 lien divisional bonds, on 1,290 miles additional. The total amount of S. A. L. Ry. first mortgage 4 per cent bonds out- Total interest advanoed by city or aoorned standing is $12,775,000, exclusive of the bonds pledged as col- to sinking fund 3,920,676 Interest on advances made city at rate varying lateral for the Seaboard $10,000,000 refunding 5s.—V. 73, Simple by from 6 per cent to 3 1* per cent 3,532,009 p. 33. Tot. indebtedness to City of Baltimore Sept. 30, 1901. y $12,075,262 Sharon & New Castle Ry. Guaranteed Bonds.—Lawrence Barnum & Co. of this city are offering at 102 and interest xThis item Includes: 1st and 2d mort. bonds held by Commissioners $100,000 first lien 5 per cent gold bonds; principal and inter- of Finance. $222,000 ; 3d mortgage, $875,0 0; 4th mortgage. $1,000,- 000; 5th mortgage, $1,704,000; loan of 1925, $t>84,Oi O ; funding cer- est guaranteed by Youngstown-Sharon Railway Light Co., & tificates, $226,530; unfunded coupons purchased by Commissioners of which owns the entire capital stock. These bonds are Finance, $71,742. y The sinking funds in the hands of the Commis- '901, the several Western due July 1, 1931 ; subject to call at 115 and interest at any in- sioners of Finance accrued to Sept 30. on Maryland RR. loans are: To credit of RR loan of 19'27. $'60,695; to terest period ; interest payable Jan. 1 and July 1 at New York credit of City of Baltimore, loan of 1925, $81,235, and loan of 1950, Security & Trust Co., New York, Trastee. Capital stock, $120,367; total sinking funds for loans of 1925 and 1950. $201,802. $500,000; bonds, $500,000. The property consists of about 16 If the railroad company be entitled to a credit for this amount, $201,- miles of electric railway, extending from Hubbard, O., to 602, the total debt above given is correspondingly reduced. New Castle, Pa., connecting the Youngstown-Sharon system The city has made other investments in the company which with the New Castle Traction Co. The same firm is offering form no part of the debt of the company, but are here $300,000 first 5s of 1900 of the Youngstown-Sharon Ry. & enumerated to show the total amount of the city's interest in Light Co. at 102 and interest, $350,000 City of Houston 5s, the property. $250,000 City of New York 3^s, etc.—V 73, p. 288. In 1866 the city bought $200,000 of the company's stock at par and turned over to the oompany in payment there- Southern Light & Traction Co. of San Antonio, Tex.— for $200,000 of Baltimore City b p. c stock, redeemed in Dividend Passed.—This company owing, it is said, to heavy 1890 and since replaced by a new loan at i^ percent $200,000 Int. paid by olty on city stock so issued to Sept 30, 190i,abcut 365,000 expenditures for improvements and extensions, will not pav The city has invested in Hlllen Station property $331,164 this November the usual semi-annual dividend. —V. 73, p. 237. Deduct -Sinking fund derived from rental paid by RR. Co. for above property and held by Commis- South Shore Ry. of Canada.—Bonds. —The shareholders sioners of Finanoe for benefit of said company 119,506 will vote Nov, 25 on making a mortgage to secure not ex- 211,658 ceeding $3,760,000 of 4 per cent gold bonds. The contest re- Total further investment of $776,658 garding the control of the property resulted, it is understood, -V. 73, p. 392, 33. in the election to the directory of A. L. Meyer, President of Youngstown Sharon Ry. & Light Co.—Bonds —See Sharon the St. Lawrence & Adirondack, and of Dr. Webb and & New Castle Ry. above.— V. 72, p. 874. Traffic Manager Hodge of the Rutland—V. 73, p. 495, 392. Temple Street Cable Ry. of Log Angeles.—Reorganiza- tion —According to the "Los Angeles Times" this property INDUSTRIAL. HAS AND MISCELLANEOUS. has been acquired by the Huntington syndicate, which con trols the Los Angeles Ry. and will be operated by a new Albany (N. Y.) Home Telephone Co.—Mortgage.—This company entitled ihe Pacific Electric Ry. Co. company has filed a mortgage to the Knickerbocker Trust Co. Union Pacific RR.—Agreement.—See Northern Pacific Ry. of this city, as trustee, to secure $350 000 of 6 per cent bonds above.— V. 73, p. 786, 723. due Jan., 1927, interest payable Jan. 1st and July 1. Tbe United Railway & Light Company of Wilmington, Del.— company was incorporated under the laws of this S ate on Incorporated. —A press dispatch from Wilmington announces May 1, 1901, with $750,000 authorized capital stock, and the incorporation of this company under the laws of Dela- acquired the rights, franchises, etc.. of the Home Standard ware with $1,000,000 authorized capital stock to furnish Telephone Co. of Albany. Howard Hendrickson is President. light, heat and power for electric railways. Directors: B. Rawson, F. H. Sudro, T. M. Brush, F. W. Martin, I. H- Wabash RR.— See Champaign South Eastern RR. above, 8amuel & Griswold and A. E. Lord of Elyria, O., and 6. O. Lee Jr., Howard Hen- In Possession. — The company on Nov. 1 took possession of drickson and W. H. Keller of Albany. the property of the former Omaha & St. Louis RR. acquired Amalgamated Copper Co. —Copp°r Exports and Accumu- per terms already announced.—V. 844, 786. 73, p. lations.— 'See article on page 982.—V. 73, p. 844, 723. Washington & Great Northern Ry.—See report of Great American Cotton Oil Co.—Dividend Reduced.—With the Northern Ry. Chronicle Oct. 26, page 904.—V. 73, p. 186. usual semi annual dividend of 3 p. c on tbe prc-f stock, the Washington Traction & Electric Co.— Foreclosure.—At company has declared a dividend of 2 p-r cent for the year Norfolk. Va, on Nov. 7 Judge Nathan Goff of the United on the common stock. This contrasts wirh 3^ per cent last States Circuit Court entered a decree of foreclosure under year, 4 per cent in 1899 and 3 per cent in 1898, the only earlier the mortgage of 1&99.—V. 73, p. 844, 786. dividends on this stock.—V. 73, p. 901, 724. 1 — — A

~~November 9, 1901.] THE CHRONICLE. 1013~~

American Lijrlit & Traction Co.—Bonds.—See St. Croix ending Oct. 31, approximate* $700,000. The dividend on the preferred stock, l c that Power below.—V. 73, p. 893, 235. j per cent, 0, and on Dividend.— Sm Southern Light & Traction Co. under tbe common, 1 per cent) lor $840,878, leavii g balance (surplus "Railroads."-V. 73, p. 897, 235. for the quarter of $821,007.—V. 78, p. 8 American Soda Fountain Co.—D.vidends.—A dividend of Margraves Mltta.—Bonds Authorized, The $600,000 of 5 6 per cent has been declared upon the first preferred Btook per cent bonds, due in thirty yea i call at 105 payable Nov. 80th to stockholders of record Nov. 6th out of after three years (denomination $500 and $1,u00j, were duly earnings for the year ended Aug 81, 1901. Dividend the authorized on Oct. 31.— V. 73, |>. I were suspended on all classes of stock Nov., 1896, but wen- Brothers.—Income Bowl resumed last year ou the first preferred, 3 per cent being paid Hat per & Dividem .— dividend the net earnings for lh--> year Sept. thereon in November. See report p. 1009.—V. 71, p. 1008, 1065, from ending 80, 1901, has been declared upon the income bonds, payable Nov. American Vulcanized Fibre Co.— Consolidation.—ThiB 19, ou premutation of the bonds at the offices of the coni- company was incorporated in Delaware on 04. 29 with an pany.-V. 71, p. 700. authorized capital stock of $3,400,000, of which $9(0,000 will be 7 per cent cumulative prei erred, to consolidate the Vul- Havana Commercial Co. Readjustment Committee—De- canized Fibre Co. and the Kartavert Manufacturing Co. of posit*.—A. committee, consisting of Frank Tilford, Chair- Hollins, Win. II. Butler, Philip Wilmington; the American Hard Fibre Co. of Newark, Del , man: H. B. Lehman, Henry and the Lamimei Fibre Co. of Bjston, Mass. The new com- R. Wilson and R. R. Covin has consented at the request of pany will have an authorized issue of $600,000 of 6 per cent holders of a large amount of the stock to prepare a plan for mortgage gold bonds, due in twenty years, but subject to the readjustment of the affairs and secuiities of the company, call after three years at 105 and acorued interest. The con- the liquidation or funding of its fi tattng debt, and the im- solidation has not yet been effected. provement of its business. Holders of preferred and com- Bethlehem Steel Co.—Listed in Philadelphia —The Phil a mon shares are requested to deposit their certificates of stock delphia Stock Excha- ge has listed $6,819,000 purchase money with the Guaranty Trust Co., No. 30 Nassau St., in exchange for negotiable certificates, on or before Dec. 1901, after 6 per cent bonds of 1998. -V. 73, p. 786, 724. 2, which date no deposits will be accepted except upon consent Bridgeport (Conn.) Gas Light Co. —New President.—Br. I. of the committee and upon terms to be fixed by it. Stock- De Ver Warner is the President of this reorganized com- holders dissenting from the plan when promulgated will be Merger with the Citizen's Gas Co. is understood to Sany. permitted to withdraw their stock without expense to them e impending. Among the new directors (five of whom are within thirty days from the promulgation of the plan on sur- New York men) are the following residents of Bridgeport: render to the Trust Company of its receipts therefor, de- Dr. Warner, William D. Bishop, William B. Hincks and positors not so withdrawing within said period to be deemed Goodwin Stoddard.—V. 289. 73, p. to have accepted said plan. The Board of Directors recom- (J. G) Brill Co. of Philadelphia.— English Plant.—This mends the shareholders to deposit their certifi jates in accord- company is arranging to establish a branch plant in England. ance with the notice of the committee.—V. 73, p. 9j2. Central Containers' Co. of Louisville, Ky.— Consolidation. Illinois Brick Co.—Dividend.—This company has declared This company was incorporated in New Jersey on 0;t. 31 — a dividend of 2 per cent on its preferred stock; issue, $3,500,- with $2,250,000 authorized capital stock, of which $">00,OOJ is 000 6 per cent cumulative.—V. 70, p. 689. preferred 5 per cent cumulative, and has taken title to the properties formerly owned by the following Louisville com- Indiana Water Co. of New Albany, Ind.—Mortgage.—This panies (see "Louisville Courier- Journal" of Nov. 3): company has filed a first mortgage for $350,000 to the Louis- Frank Fehr Brewing Co., the Senn & Ackermann Brewing Co.. tbe ville Trust Co., as trustee. The proceeds of these bonds will Phoenix Brewlnu Co.. the Sohaefer Meyer Brewing Co., the Nadorff be applied to building a waterworks system in New Albany. Brewing Co. and the Stein Brewing Co. John Tevis of Louisville is President. —V. 73, p. 35. The new company has made a mortgage to secure $1,250,- Ithaca (N. Y.) Light Incorporated.—This 000 of 5 per ceut bonds, due Nov. 1, 1921, denominations & Water Co.— has been incorporated at Albany with .$400,000 $100, $500 and $1,000 each, Columbia Finance & Trust Co. of company au- Louisville, trustee. thorized capital stock. Directors—G-. S. Sheppard, T. W. Officers and directors are: Summers and W. T. Morris, of Penn Yan. Offioers.—John P. Kellner, President; Frank P. Senn, First Vice- Lehigh Puwer Co. of Easton, Pa.—Bonds Offered.—J. R. President; Charles A Weber, Second Vice-President; George Busolien, Williston & Co. of Boston are offering for sale at and Third Vice-President; Charles P. Drthier. Secretary; George W. Kre- 103J£ mer, Treasurer, and Frank Pehr, General Manager. interest the remaining $90,000 of this company's $240,000 Directors.—John F Kellner, W. H. Edinger, Frank P. Senn, E. C. first mortgage 5 per cent gold bonds, due in thirty years, but Bohue. Philip Ackermann, Charles P. Dehler, Onarles A.. Weber, Frank subject to call after ten years at 105; sinking fund, $5,000 Fehr, Charles A. Sohaefer, George W. Kreuier, J. J. Tracy and Henry Nadorff. yearly. The company is organized to utilize the water power of the Lehigh River between the cities of Easton and The officers were all connected with the properties ab- Raubsville. sorbed. Maine Steamship Co.—Bonds.—This company has issued Commercial Pacific Cable Co.—Increase of Stock.—This $1,000,000 of 5 per cent $1,000 gold bonds, secured by mort- company, recently incorporated, has increased its c apital gage to the Kings County Trust Co., as trustee, and with in- stock from $100,000 to $3,000,000. The Chamber of Com- terest payable in February and August. The capital stock is merce of this city on Thursday adopted resolutions reciting $1,000,000, all of one class. The company's office is at 222 the need tor an American trans-Pacific cable, and urging that South St.—V. p. 85. the United States Government grant permission for the 73, landing of such a cable on the Hawaiian and Philippine New Orleans Water Works Co. Decision.—The Supreme Islands.—V. 73. p. 844. Court of Louisiana, in the suit brought by the city of New Orleans and State of Louisiana, handed down on Nov. 6 a Computing Scale Company of America.—New Company. — decision forfeiting the charter of the company, on the ground This company was recently incorporated in New Jersey with that the company has been guilty of misusing its charter $3,500,000 of authorized capital stock, of which $1,500,000 is rights by persistently charging higher rates for water than to be 7 per cent cumulative preferred, and an autnorized it was allowed to charge. The Civil District Court in Octo- issue of $600,000 of 6 per cent bonds. The new company will ber, 1900, decided in favor of the company. The case, it is issue at present $1,400,000 common stock, $1,150,000 7 per said, will be carried to the United States Supreme Court un- cent preferred and $450,000 of the 6 per cent bonds. The less a compromise is arranged whereby the plant of the com- bonds are known as first mortgage collateral trust gold bonds, pany shall be placed in possession of the water, sewerage and due in twenty years, but with a sinking fund provision; the drainage board. (V. 71, p. 866.)—V. 73, p. 900, 723. interest is payable Apr. 1 and Oct. 1 at Knickerbocker Trust Co., trustee. Officers and directors: New York & Westchester Water Co.— Foreclosure Suit Not Edward Canby, President; George H. Paine and George M. Ludlow, Reopened.— Oa motion of James H. Bailey, a creditor, to set Vice-Presidents; 8 M. Hastings, Treasurer, and O. O. Ozlas Seoretary aside the sale on the ground of inadequacy of price, Judge and General Manager. Hooker made an order setting aside the sale upon condition Directors: E lward Canby, formerly President of Computing Soale that Bailey, within ten days, pay to the Central Trust Co. Co.;10. O. Ozlas, formerly Seoretary and Gen. Manager of Dayton Oom Sutlng 8oale Co.; Geo. M. Ludlow formerly Vice Pres.of Money WHight the costs of the advertisement of sale and the referee's fees, oale Co.; 8. M. Hastings, formerly Treasurer Money Weight Soale Co.; amounting to about $500, and file a bond which was required Geo. H. Paine, formerly Treasurer of W. F. Stimpson Co., Detroit. by Judge Graynor, in order to stay the sale, amounting to Mloh., and President of 8timpson Computing Scale Co., Elkhart, Ind ; Sherman R. Miller. Hon James A. Roberts, President of American In- about $14,000. The time within which to make these pay- dustrials Co., New York City; Geo. B. Hanford. Vice-President of the ments and file the bond has long since expired and neither International Time Recording Co.; Samuel B. Lawrence, New York has the nor the bond filed. Tbe order City. p*yment been made further provided that in ths case of the failure of Bailey to The companies whose properties are to be owned or con- j pay the amount and file the bond, the sale was confirmed; trolled by the new company are as follows: W. F. Sampson ! hence the sale to-day stands confirmed.— V. 73, p 61S.| Co., Detroit; Computing Scale Co., Davton; Money Weight j Paducah(Ky.) Gas & Electric Co.—Successor Company.— Scale Co., Chicago; Stimpson Computing Scale Co., Elkhart, This, it appears, is the correct name of the successor of the Ind,; Wendell P. Rice, Broad Exchange Building, this city, capital stock is $125,000.— is interested. Paducah Gas Co. The authorized V. 73. p. 960. Consolidated Telephone Companies of Pennsylvania.— Palmetto Co.—Circular.— President A. A. Rutis has sent Mortgage.—The company has filed its mortgage for ^6,000,- a circular to the shareholders stating in part: 0C0 to the Equitable Trust Co. of Philadelphia, as trustee. The board has come to the conclusion that It would be unwise to See full particulars in V. 73, p. 901. make any large investment In real estate and oostly machinery, but Glucose Sugar Refining Co. — Earnings. — President has worked to produo* and has now made, with less expensive in- j stallation, which It can supply the tanneries In Matthiessen on Saturday last announced that the net earn- a good product with the United (there are 1,600 tanneries), prepared In the same ings for States the first quarter of the present fiscal year, viz., that dry form they are accustomed to usinj?. For the manufacture of this .

~~1014 THE CHRONICLE. [Vol. LXXir~~

new product we are contemplating opening a factory In Camden, which will reoeive the raw material from Alitor. Of the $(>,500,000 additional capital stock authorized at the last 3£frje (&mnmzxtw\ Qxmzs. meeting < L the shareholders, making total authorized $10,000,- 000, In $25 shares, your board thought It advisable to list only one half of the said amount, retaining 130,000 shares unlisted In the treasury; the 130.000 shares which tire listed furnish us the means COMMERCIAL EPITOME. for our enterprises.—See V. 72, p. 1 087, 1038. Night, Parker Mills.—Bonds Authorized.—The $600,000 of 5 per Friday Nov. 8, 1901. cent bonds, due in thirty years, bnt subject to call at 105 after The obeervance of a holiday en Tuesday, election day, in- three years (to be issued in denominations of $500 and $1,000 terfered with business to some extent during the firet half of each) were duly authorized on Oct. 31.— V. 960. 73, p. the week. The general business situation, however, has not Pocahontas Coal 300,000 Acres.— It is an- & Coke 'Co.— changed in any important particular, the outlook being nounced that the Pocahontas Coal Company has completed favorable for continued activity. its land purchases by taking up options on some 70,000 acres. Decidedly colder weather This, with the 230,000 acres previously acquired, gives has been experienced in the Northwestern States, and has the company fully 300,000 acres, together with railroad had in that section of the country a stimulating influence franchises and other concessions, some of which are declared upon the demand for seasonable merchandise. Increased to be especially valuable.— V. 73, p. 902, 845. speculative interest has been shown in the grain markets and Pressed Steel Car Co.—Directors—Rolled Steel Car Co.— prices have advanced on limited offerings. Coffee prices Charles T. Schoen and E, A. Schoen, his son, it seems sold have had a sharp upward turn on reports of practically a their stock in the company some time ago, and have retired failure, due to drought, of the next Brazil crop. from the management. Charles T. Schoen was a member of the board and E. A. Schoen was Second Vice-President and Nov. 1, Oct. Nov. of is said Charles Stocks of Merchandise. 1, 1, Manager the plant at Pittsburg. It that 1901. 1901. 1900. T. Schoen will in the future give his entire time to the rolled Pork steel car wheel Co, , which proposes to build a large plant in bbls. 5,350 5,036 4,702 Lard tos. 3,958 5,874 Pittsburg for the manufacture of car wheels.— V. 73, p. 802, 9489 robaoco, domestic hhds. 2,222 3,340 11,899 725. Ooffee, Rio bags 1,400,805 1,131,732 533,779 Realty Associates of Brooklyn. — Incorporated. — This Ooffee, other . bags. 220,517 2')6,187 100,657 Ooffee, Java, Ac mat* 116,585 130,136 161,576 company was incorporated at Albany on Nov. 2 with $4,000,- Sugar hhds 991 2,460 None. 000 authorized capital stock to deal in real estate in Greater Sugar bags, &o. 194,063 291,690 None. New York. The incorporators include the following, mostly tfolasses hhds. None. None. None. aides No. 26,300 40,500 26,700 if not all representatives of the Title Trust Co., Guarantee & Ootton bales. 75,105 74,653 43,723 viz. : Bosln bbls. 21,658 24,974 25,250 Frank Bailey, Henry Batterman, Felix Campbell. Martin Joost of Spirits turpentine bbls. 984 1,461 474 Brooklyn; George G. Williams, Frederick Potter, Charles A. Peabody, Tar bbls. 372 692 389 Alexander E. Orr, Clarence H. Kelsey, Augustus D. Julillard, John D. Sice, E. I bags. 2,000 2,400 10,100 Hloks. Charles R. Henderson, John Greenough, Charles 8. Brown of Rice, domestic bbls. .\600 2,000 11,600 New York City, Ellis D. Williams of Philadelphia and Douglass Robin- Linseed bags. None. None. None. son of West Orange, ST. J. Saltpetre bags 2,000 2,300 6,500 Jutebutta bales. None. None. 100 St. Croix Power Co. of Wisconsin.—Guaranteed Bonds Manila hemp ...... bales. 3,409 783 18,644 Offered.— Emerson McMillin & Co. are offering at 101 and 91sal hemp bales 7.106 8,468 550 interest this company's entire issue of $750,000 1st mortgage Flour bbls. and sacks 95.200 78,300 111,100 5 per cent gold bonds, principal and interest guaranteed by Lard on the spot ha3 continued to meet with only a limited the St. Paul Gas Light Co. These bonds are dated Oct. 1, sale, demand being quiet from both exporters and refiners, 1899, denomination $1,000, due Oct. 1, 1929; interest payable and prices have declined. The close wae quiet at 8 '90c. for April and October at Trust Co. of America, New York, trus- prime Western and S'SOcgS'SOc. for prime City. Refined lard tee. The Power Company was organized in 1899 under the has had only a small sale and prices have declined, closing at laws of Wisconsin, and licensed in Minnesota, to build and 9 10c. for refined for the Continent. Speculation in the mar- operate a power plant at Apple River Falls, 27 miles north- ket for lard futures has been moderately active but at lower east of St. Paul, and to transmit and furnish electrical power prices under liquidating sales, prompted by continued large in St. Paul. It has been in successfnl operation since Nov. receipts of hogs. The close was quiet. 1900, its entire of 9, output power being leased to and used DATX.T OLOBIMG PBIOBS OF LARD FUTUaE8. by the St. Paul Gas Light Co. (now controlled by the Amer- Sat. Mon. Tuts. Wed. Thurs. Frt. ican Light Traction in the of its & Co ) operation electric November. 9 00 8-90 Holiday. 8-85 8'80 8-82 and power business. The following guaranty is endorsed on each bond: Pork has had only a limited jobbing sale, but prices have not changed, closing at $15@16 for mess. Cut meats have been The St. Paul Gas Light Co., a corporation of the State of Minnesota, having by purchase become the owner of the within bond, and now quiet and slightly easier. Tallow has been unchanged and being desirous of selling the same, in consideration of the purchase steady at 5J4c Cottonseed oil has further declined, closing thereof from it and the payment to it of the purchase price therefor, quiet at 35@36c. for prime yellow. Butter has been in fair the receipt whereof is hereby acknowledged, and of other good and demand and steady. Cheese has been quiet and unchanged. valuable considerations bv it received, does hereby guarantee the payment of all and singular the amounts due and to become due upon Fresh eggs have advanced, closing firm. said bond, and each and all of the coupons issued therewith, both Brazil grades of coffee have been firm and higher. The principal and Interest, in at the times, the manner and aooording to distributing business has been fairly active, and on the re- the terms of said bond and ooupons respectively. In witness whereof said St. Paul Gas Light Co. has caused its cor- ceipt of advices reporting unfavorable prospects and small porate seal to be hereto affixed, and these presents to be subscribed estimates for the growing Brazil crop, prices have advanced by its Treasurer thereunto, duly authorized by its shareholders and its sharply. The close was firm at 7i£c. for Rio No. 7. West hoard of directors at St. Paul, Minnesota, this 16th day of October. A.D.I 899. India growths have had a fair sale and prices have advanced; the close was at 9c. for good Cucuta. Eaet India growths St. Regis Paper Co.—Increase cf Stock.—This company have been in fair demand and firm. Speculation in the has increased its preferred stock from $600,000 to $900,000 market for contracts has been more active. There has been and its common 6tock from $500,000 to $700,000. There is fair buying to cover short sales and for investment account, said to be a bond issue for $500 000. The company has been and prices have advanced. The close was firm. Following building a large plant at Eggleston, near Watertown, N. Y. closing asked prices: Directors: are the 7-50o. Nov 675o. I March 7-10o. July President, Geo. W. Knowlton; Secretary and Treasurer, G. C. Sher- Deo 6-85o. May 7-30o. Aug 7-60e. man and D. M. Anderson of Watertown; J. Henry Dick, Geo. E. Dodge, Jan 695c. I June 740o. Sept 7*70e. K. B. Fuller, Alvah Miller, F. B. MoUenhauer of New York. Raw sugars have been dull and easy, closing at 3%c. for Standard Oil Co.—Dividend.—A dividend of $8 has been centrifugals, 96-deg. test, and 3}^c. for muscovado, 89 deg. declared, payable Dec. 16, making $48 for the year 1901, the test. Refined sugar has been quiet at 5c. for granulated. same as in 1900.—V. 72, p. 940. Glucose has been firmer. Stock Quotation Telegraph Co.—Called Bonds.—The fol: Kentucky tobacco has been quiet locally, but Western ad- lowing ten bonds, issued under mortgage of Jan. 1, 1888, viz.- vices have reported a fairly active business at full prices. Nos. 31, 85, 115, 182, 213, 269, 3C0, 305, 320, 368, have been Seed leaf tobacco has held steady. The only business of im- designated for redemption at the Central Trust Co., 54 Wall portance transacted during the week was a sale of 2,000 St., on Feb. 1, 1902, at their par value.—V. 71, p. 1023. cases 1900 crop, Wisconsin Havana seed, at 16@173^c For- Waterloo (la.) Water Co.—Mortgage.—This company has eign tobacco has been quiet and unchanged filed a trust deed for $250,000. The sum of $80,000 will be The market for Straits tin has been without important held as a reserve fund and the balance will be used for im- changes. A limited amount of business has been transacted, provements to the plant.—"Engineering News."—V. 73, p. 496, and the close was steady at 24'75@25c. Ingot copper has had Westinghonse Machine Co. —Increase of Stock.—The a limited hand-to-mouth sale, with prices for Lake held at 4'37)£c. Spelter shareholders will vote Jan. 7, 1902, on a proposition to in- 17c. Lead has been quiet and unchanged at in active crease the capital stook from $3,000,000 to $5,000,000, in order has been firmly held at 4"37J^c. Pig iron has been to provide additional working capital for the increasing demand and firm at $13 00@15 50. at business.—V. 69, p. 1252. Refined petroleum has been unchanged, closing steady 7-65c. in bbls., 8 - 75c. in cases and 5* 10c. in bulk. Naphtha has bren unchanged at 9"05c. Credit balances have been un- —Harriman & Co., in connection with their monthly cir- changed at $1 30. Spirits of turpentine has further declined, cular offering investment securities of various issues, have closing quiet at 38@38^c. Rosins have been firmer, closing prepared an interesting statement regarding the stock of the at §1 45@1 50 for common and good strained. Wool has been Illinois Central, stating their reasons for thinking that the decidedly more active and at firm prices. Hops have been shares of the company are selling below their intrinsic value. dull and easy. . — . . .

~~November 9, 1901.] THE CHROJN1CLK 1015~~

COTTON. In addition to above exports, our telegrams to-night also give us the following amounts of ootton on shipboard, not Friday Niqot, Novuiaber 8, 1901. oleared, at the ports named. We add similar figures for The Movement op the Chop, as lndioated by our telegrams Hew York, whioh are prepared for our special use by Messrs. from the South to-night, 1b given below. For the week ending Lambert 6t Barrows. Produce Exchange Building. this evening the total receipts have reaohed 355,431 bales, against 406,290 bales last week and 420,447 bales the previous OK SHirilOAltD, ROT OLKARKD rOK week, making the total receipts sinoe the 1st of Sept., 1901, Leaving Nov. 8 at— r - Qrsal I °« ood Middling. fe 7 8ifl 9 »»8 8% U38 16 << Tot. this wk. 355,434 295,732 262,391 449,742 411,605 289,706 *1re the exports for the week and sinoe Sept. 1, 1901 The quotations for middling upland at New York on With T Mndint Nov. 8, 1901 Prom Sot. 1, 1901. to A of . 8. 1901 Nov. 8 for eaoh of the past 82 years have been as follows. BxvorU Exported to— Bxvortta to— 7i3 95 .C.lli* 1901. ...o. li; 1893 0. 83 16 1885. ...0. 16 1877... from— Ortat Conti- lotal Orsat Conti- 9i^ France leiai 1900 9i', 6 1892 8 k- 1884 18 1876 12 Brit'n. nent. Wuk. Britain. nent 135 1899 7i3, a 1891 8>4 1883 10>« 1875 IS 1898 6& 1890 9" 1882 10"i 6 1874 14»8 Qalretton 84,684 10.091 35.601 80,876 289,017 130.69D 169.181 588.8S0 16 18 7 1897 W 1889. 10V» 1881 liss 1873 13 a Bab. Past, Ao.. »•••• 1,386 1.3S8 1896 8H 1888 9 7a 1880 11 1872 1914 New Orleani. 20.153 5,500 14.027 39.680 180,931 7 18i* 69,602 169.571 120.064 1895 813 16 1887 9 e 1879 110 16 1871 Mobile 9,?19 9.719 *o,365 7.548 27,911 1894 5»8 1886 9% 1878 9*18 1870 163a Pensaoola 4.60U 1,700 1.450 7,760 19.162 1.700 10,463 31,325 Note.—On Got. l, 1874, grades of ootton as quoted were ohanged. 11.578 7,031 18,475 87.054 73.111 11,651 144,196 836,268 Aooordlngto the new olasslnoatlon Middling was on that day quoted olasslnoatlon. Brnntwlok ... 22.727 12,776 85,608 Ho. lower than Middling of the old Oharieiton... 10,213 ..•••• 10,213 16,766 14,975 30,731 MARKET AND BALES. Port Royal... ••• SALES OF 8POT A CONTRACT. Wilmington... 36,195 63.882 90,077 FOTDRE8 ...... bPOT MiKKIT ••••• 5.988 5.P82 Market Ex- Oon- Oon- N'port N.. Ao.. 1.745 CLOSED. 1.746 8,860 6,850 Closed. port. sump. tract. Toia. New York 14,871 1,033 8,643 24 647 101,089 7,103 71,415 180.212 11,414 205 11,619 44,263 505 44,758 Saturday .. yulet steady .... 165 165 Baltimore 12,720 10,841 23.661 Monday Quiet at ija a "l v. Steady .... 46 2,200 2,246 Tuesday... Holi day . Philadelphia.. • >•• 700 200 900 B'rly steady. 254 500 754 San Fran.. Wednesday Q't & st'y, ^ do.. Ao.. 2 183 2,183 14.068 14,083 Thursday.. Qal«t Ht*ady 103 103 steady. Total. 118.707 25,855 80.784 224846 811,458 283.720 635.287 l.Ti'i'.lOS Friday Quiet Very

~~Total, 1900 ... 126,721 34,211 117,832 277.767 960,723 182,627 679 558 1,812,903 568 2,700 3,268 1 . , .~~

~~1016 THE CHRONICLE. [Vol. LXXin.~~

Futures.— Highest, lowest and closing pricee at New York At the Intebiob Towns the movement—that is the receipts for the week and since September 1, the shipments for the week and the stocks to-night, and the same items for the sorresponding period of 1900 -is set out in detail below.

~~3 2.?Sg»£.SS2S52.£2fi • SEgp'SS a a §b'i p.o> < ' o E.i<* o 3* «3*J ~4<1 Be a.™ a a~~

~~•ivanoH'~~

on to m _ 5 «3-a ,tOW^ MW © MMMWW Wmoo wctocoactOMOtocooo I I •I MM titO to ' K tO coco WW coco COW coco t-W coVicwm© m iuV>"to © w m m © »i © woo^caDcocoV wmVo«j I ©tO MCn. CJIOI coco 0050IOC-tC©OO5|fc.C0*-MM — OitO»JX©»JIOCCMX©©»3>©W» CO ©a ©CJ> o© ffl© wx©vt©©©©xcow©©MOjcic»©aoi^©M©©wsito^-towto I . ! o 9 I 9 I 9 9 I 9 I 9 I 9 9 I 9 •"5 «3< <1~3 ~J~1 «J. *>* C0i- 101(09! t^t*****. |(kM©M©Cn©lf». toen com CnM M«J MCO w© ©CO ©co 00 If-

•J -CI «3*«>©"'• i *J<1 -4<» «J -w i I I 1 CDio.;oc*wcjtO<*#.co©w©aoW©®<--aC!-tOWC««-l~3co©h-» to to WW w WW w W«t *.W * ®©©tow»JWi^©Mi^ww©oo©i>»flooc*>-ato©eo« tow co CO© W© 00 00 m«*.©m

~~4t0 *• 1^ «1HMM tO 10 MWWC0U m~~

~~9 I I I I I 9 I I I ee 9 9 9 9 9 9 I 9 9 9 9 com©V)©^^w©1o^To MM©loVenV* ©en ©©^- to © © 3 ^J*J©O©O©©»aMMMWCC©M©M©ltk©©«J«O)©00«JWMCn 9 9 9 9 I 9 ! 9 9 9 9~~

-J •J 00 © CnMKIM m to t-i >-• i>. -> !-• tOMMtO c?S 1 w en IS I i2 «i © tOtO^M; ^t3©M*kJJ> W© tOOWtOOOXO—WCOM « e § © O If- o © w ©w ifi.io'to'en'© • © mwVm© moo »^ © co© ao ooViTi hVihioo i^-j«to«3>--30ow! ©rf^w©to*.w©©*.w©'--4coen©awencD • 8* The Visible &upply oe Cotton to-night, as made up bj ©ales more than at same period last year. The receipts at all But to make the total the complete figures for to-night owns have been 12,597 bales ies>> than same week last year. (Nov. 8), we add the item of exports from the United States, Overland Movement fob the Week and Sinoe Sept. 1.— including in it the exports of Friday only, «Ve give below a statement showing the overland movement 1901. 1900. 1899. 1898 or the week and since Sept. 1, as made up from telegraphic Stock at Liverpool...... bales. 229,000 342,000 730,000 692,000 eports Friday night. The results for the week ending Stock at London 7,000 14,000 2,000 5,000 Nov. 8 and since Sept. 1 in the last two years are as follows. Total Great Britain stock. 236,000" 356,000 732,000 697,000 Stock at Hamburg . .. 12,000 15,000 25,000 13,000 Stock at Bremen 91,000 83,000 172,000 90,000 1901. 1900. Stock at Amsterdam... 1,000 1,000 November 8. Stock at Rotterdam 200 200 200 Since Since Week. Sept. 1. Week. Sept. 1. Stook at Antwerp . 3,000 4,000 4,000 8,000 8took at Havre 57,000 63,000 144,000 83,000 Shipped— Stook at Marseilles 2,000 2,000 4,000 4,000 Via St. Louis. ...^ Stook at Barcelona 30.000 15,000 60,000 20,000 ...._. 42,213 170,532 48.731 228,594 Stock at Genoa 10,000 5,000 10,000 19,000 8,033 30.4V5 12,844 55,973 Via 600 Stook at Trieste 4,000 1,000 9,000 15,000 Paduoah...... 2,762 71a Book Icland —.. i",758 8",535 6,350 17,367 Total Continental stocks . 209,000 193,200 42^,200 253,200 8,931 29,136 4,117 23,429 Total European stocks. 445,000 549,200 1,161,200 950. 2U0 4,564 17.3P8 3,540 13,607 India cotton afloat for Europe 9.000 53,000 4,000 13.000 Via other routes,

marketed , 450,240 2.960,231 394,736 3,090,508 Total American .. 2,599,100 2.508,491 3,270.587 3.664,^8 5 Total oterlor stocks in excess. 48,237 444.062 32,004 501,336 Total visible supply 3,017, 00 2,988,691 3,789.787 4,138,785 Middling Upland, Liverpool.. 45 16d. 5932

~~November 9, 1901.] THE CHRONICLE 1017~~

Quotations roa Middling Cotton at Othbb Markets.— Helena, Arkansas.—Tuere has been frost during the week, Below are closing quotations of middling cotton at Southern not severe enough to kill cotton. Imt temperature too low for and other principal cotton markets for each day of the week. maturing cotton. Rain has fallen on one day of the week, to the extent of sever ty hundredths of an inch. The thermom- CLOSING O.UOTATIOHB FOK MIUOLINO COTTON ON— Week ending eter baa averaged 552, ranging from 3a to 78. Nov. a. Satur. ilun. Tuts. Wednei. Thun. /Yi. Memphis, Tennessee.— II ravy frost occurred on three days, doing considerable damage to the top crop. Ice also reported 77, Galveston... V* 7*8 8 ' 'ie on one day. Picking and marketing making good progress. Orleans 738 2L"7Vj 7>4 7»4 New 7'iu rain one day of the week, to Mobile 7% 7% 7»e 7 7 There bae been on the extent of 7»« 7>« of inch. Savannah. .. 7»ia 7*is 7»e forty seven hundredths an The thermometer has Charleston .. 7^,6 7>4 7* ranged from 85-5 to 77-3, averaging 571. 7*4 7»4 Wilmington. 7% T»8 RS- Mobile, Alabama. — General frosts occurred in the middle of Norfolk 7S« 77,8 H 7V» 7V, 7* c week, killing in some sections of the Interior. There Boston 7'a T>» c 71*18 713,fl the h*s p. Baltimore . . 7^8 7?8 7% 7\ 7\ been rain on two days of the week, the rainfall reaching » Philadelphia 8% 8 3 16 81,6 81, 81,8 sixty-one hundredths of an inch. The thermometer has Augusta 7^,8 7 38 75 16 ®»8 76,6 averaged 60, the highest being 81 and the lowest 37. Memphis 7* 7 f16 7M 7*4 7"4 7 9 73a 7*8 Alabama.— Light frost has occurred on St. Louis , 8 7»u Montgomery, two Houston 7Hj 7H» l> 77,8 days. We have had rain on two days of the week, the rain- Cincinnati .. 7% 7% 7\ 734 734 fall being fifty-six hundredths of an inch. Thermometer has Loulsvilli' . 7% 7H» 7 k! 7»8 73a averaged 58, ranging from 30 to 80. The closing quotations to-day (Friday) at other important Selma, Alabama.— Killing frost occurred on Tueeday. Southern markets were as follows. Rain has fallen on one day of the past week to the extent of 7i« Athens I Columbus,Miss 6\ Nashville 7»« one inch and twenty-five hundredths. The thermometer has Atlanta 71,6 Eufaula 7 Natohei 7i, I 6 rang* d from 34 to 86, averaging 55. ... 7*4 Charlotte 7^ I Little Rook 6% Raleigh Columbus Oa [Montgomery... 7 Shreveport 7 Madison, Florida.—The weather has been very favorable for crop gathering the past month. We have had rain on Receipts Plantations. The following table from the — one day of the week, the rainfall being fifty hundredths of Indicates the actual each week from the planta- movement an inch. Average thermometer 59, highest 82 and lowest 42. tions. The figures do not include overland receipts nor Augusta, Georgia.—Heavy frost this week has destroyed of Southern consumption; they are simply a statement the any chance of further increase in the yiel J in this vicinity. of weekly movement from the plantations that part of the There has been rain on two days of the week, the rainfall crop which finally reaches the market through the outports. reaching forty-six hundredths of an inch. The thermometer has averaged 56, the highest being 79 and the lowest 34. Week ltce\vt$ at ths Porte St'k at Interior Toiani Rec'vtt from Plant tie 3avannah, Georgia. —Rain has fallen on two days of the flnding- 1901. 1900. 1899. 1901. 1900. 1899 1901. 1900. 1899. week to the extent of twenty six hundredths of an inch. Average thermometer 62, highest 81, lowest 46. Oct. 4 ... 219.717 309.87 fl 284,073 261,280 222,308 445,710 372,641 362.010 342.108 •' Charleston, South Carolina. —Rain has fallen on four days 11 . 280,901 829,121 217.916 328,871 303.868 524.336 344.892 410,696 396.661 " of the past week, the rainfall being seven hundredths of an 19 . 361.919 374,233 264,054 397,478 874,401 581.73S 431.168 444.766 821456

" 25 4'20.447 473.193 462,962 610.810 196, 1 62 396.863 273,537 inch. The thermometer has averaged 60, rauging from 43 319,O02J244,436 [ Nov. 1 ... 406.2 300,453 234.980 526,130 513,169 646,125 45<<,227 882,160 270.276 to 78. 8 355,434 295,732 262.391 573.367 645.903 694,692 403.67lU27,736 l 310,938 Stateburg, South Carolina. —Heavy white frost on Thurs- day morning on low grounds. There has been rain on The ibove stitement shows: 1. —That the total receipts two days during the week, the rainfall being seventy-three from the plantations since Sep.l, 1901, are 2,856,608 bales; in hundredths of inch. The thermometer has averaged 1900 were 3,017,751 bales; in 1899 were 2,739,657 bales. an 56, the highest being 80 and the lowest 37. 2. —That although the receipts at the outports the past Greenwood, South Carolina.— have light frost week were 355,434 bales, the actual movement from planta- We had on mornings, but without except on low spots. tions was 403,671 bales, the balance going to increase two damage The week's rainfall has been thirty-seven hundredths stocks at interior towns. Last year receipts from the of an inch, on one day. The thermometer has averaged plantations for the week were 827,736 bales and for 1899 52, ranging from 39 to 66. they were 310,928 bales. Charlotte, North Carolina.—We have had a good week for Weather Reports by Telegraph.—Advices to us by tele- harvesting the crop. Frost has killed the plant in the low- graph from the South this evening indicate that in most lands. Farmers are not free sellers at present prices. The week's rainfall has baen eleven hundredths of an inch, sections the temperature has been lower during the week. and the thermometer has ranged from 33 to 77, averaging 55. Frost has been quite general and at many points is reported The following statement we have also received by telegraph, to have been killing. As a rule the conditions have favored showing the height of the rivers at the points named, at the picking and marketing of cotton, as where rain has fallen 8 o'clock Nov. 7, 1901, and Nov. 8, 1900. the precipitation has on the whole been light. Nov. 7, '01. iVoe. 8, '00. Galveston, Texas.—Killing frosts reported over North Feel. Feet. Texas this week. Rain has fallen on two days during the New Orleans... Above aero of gauge. 8-7 4,-4 Memphis Above zero of gauge. 07 6-3 week to the extent of eighteen hundredths of an inch. The Sashvllle.... Above zero of gauge. 1-8 1-6 Shreveport Above aero of gauge. 13-6 has ranged from 48 10 thermometer to 74, averaging 61 Vloksburg. Above zero of gauge. 0-3 96 Corpus Christi, Texas.—Rain has fallen on one day of the India Uotton Movement prom all Forts.—The receipts week, to the extent of four hundredths of an inch. Average jf cotton at Bombay and the shipments from all India ports thermometer 66, highest 82, lowest 50. for the week ending Nov. 7, and for the season from 8ept. 1 Palestine, Texas. —The week's rainfall has been eighteen to Nov. 7 for three years have been as follows: hundredths of an inch, on two days. The thermometer has averaged 57, the highest being 78 and the lowest 36. 1901. 1900. 1899. San Antonio, Texas.—There has been a trace of rain on Receiptt at- Since Since Since two days of the past week. The thermometer has averaged Week. Sept. 1. Week. Sept. 1. Week. Sept. 1. 62, ranging from 40 84. to Bombay New Orleans, Louisiana.—There has been rain on two days 9,000 91,000 3,000 33,000 17,000 83,000 of the week, the rainfall reaching fifty-four hundredths of an For tke Week. Since Septembt r 1. inch. The thermometer has averaged 64. Mzporte from— Shreveport, Louisiana.—Light frost on Wednesday. We Oreat Oonti- Great Conti- Britain. nent. ro

~~1018 THE CHRONICLE. [Vol. LXXIII.~~

Alexandria Receipts and Shipments of Cotton the corresponding periods of the previous year are also Through arrangements we made with Messrs. Davis, presented: Benaohi & Co., of Liverpool and Alexandria, we now Quantities of Manufacture) of Month endlno Srpi ::<). 9 mo: ending Sept. 30 receive a weekly oable of the movements of cotton at Ootlon (colored and uncolortd) Exported to— 1901. 1900 1800-01 Ml Alexandria, Egypt. The following are the receipts and HW United Kingdom yards. l,001,«0i 707, 6,391 ,487 H5 858 shipments for the past week and for the corresponding Franco 2 10 ,506 3,477 Germany 17.866 24 467 638 r22 123.706 of the previous '3 week two years. Other Europe. 248.00.", 69 ,4 1.564 ,1)71 698.054 British North America 688.781 361 ,168 6,:<67 ,U2H 8^04,828 Cent'l America & Brit. Honduras. 584,877 1.188, 167 9,685 ,3«2 10.610,446 Alexandria, Kaypt, r 1901. 1900 1899. -M ex ico 3. >7.076 424 ,186 2,~ 11 3,969,278 November 6. Shinto Domingo 6H4.719 391 l'KI 8.739 ,470 2.608.U4 Cuba 283.761 133 ,808 8,86 ». 2,087,269 Receipts (oantars*)... Porto Rico* 3,552,888 This week 310.000 250,000 320,000 Other West Indies and Bermuda.. 2,678.381 2183,,894 13,383.,V:'o 16.480.852 Since Sept. 1 1,705,000 1,260,000 1,966,000 Argentina WW, 37:' 186 ,408 1.826 1.164.740 Br17.il 623 nil HO ,112 3.628, 588 *,957.088 Thii Since Thii Since Thii Since Colombia 402.625 641 ,21.1 18,8 1 984 8,076,858 Other South America 1,607.491 3,321 ,446 19.90* 581 22.659,012 week. Sept. 1. week. Sept. 1. vseek. Sept. 1. China 28,482,4188 119,0*2 .066 100,578,632 British East Indies 1,926.849 2.999,0361 5,43*.,874 9.517,788 KrportB (bales)— Hong Kong 2:i.l56 46< ,90] 236,018 To Liverpool... 10.000 57.000 12,000 53.000 17.000 79,000 Japan 438,936 21, 81)6 609 ,820 2*6,180

British Australa»la 171,-69 83 04; 2,915 , 81 2,667,803 13,000 79,000 14,000 44,000 25,000 79,000 9, Hawaiian Islands* 1,604.787 '84 Philippine islands . 286.478 677 657,'',405 702,387 Total Europe 23,000 136,000 26,000 97,000 42,000 158,000 Other Asia and Oceantca 8,644, 504 1 628, 669 27.080,773 18,579,246 Africa 715,109 698 530 6,441.686 3,610,584 * A o antar Is 98 pounds. Other countries 29.551 87.191 f Of which to America In 1901, 12,018 bales; In 1900, 9,522 bales; Total yards of above 44,.'.26,926 15.622,:n3 283,504,669 217,078.740 in 1899, 13.746 bales. This statement shows that the receipts for the week Total values of above $2,260,237 $902.9 iJtlUfibb.W $11,92S^)»3 Value per yard $0608 $'0682 $-0631 $-0649 ending Nov. 6 were 310,000 oantars and the shipments to Values of other Manufactures of all Europe 23,000 bales. Cotton Exported to- United Kingdom {66.909 $64,974 $750,884 $724,486 Manchester Market.—Our report received by cable France 902 3b! 28,004 21,737 Germany 27,221 50.495' 430.28:i 411,600 to-night from Manchester states that the market is quiet Other Europe 7.392 10,8-44 159.169 142.894 British North America 186.231 177.721 1,578.988 1,726.100 for both yarns and shirtings. Manufacturers are generally Cent'l America Jt Brit. Honduras. 62.567 18.013' 3*'.46- 296.927 Mexico 38,806 37, -J.* 840,056 402.795 complaining. We give the prices for to-day below and leave Santo Domingo 1,46* 7.126 16,257 43,982 Cuba 13,892 8.943 116.186 86.182 those tor previous weeks of this and last year for comparison- Porto Rico* 12,666 Other West Indies and Bermuda.. 9,868 7.887 99,676 85.404 Argentina 21,872 1,972 6*,471 10,492 1901. 1900. Brazil 2.979 5.227 26,532 29.691 ; Colombia 1,446 2.-93 39.092 32,379 8H lbs Shirt- Oott'n lbs. Shirt- OotC* Other South America. 3.850 6.308 67,'.<81 54.544 32i 8H China 110 Oop. ingi, common Mid. 82s Oop. ings, common Mid 27.648 106,721 26,828 British East Indies 1,636 888 6.155 4,288 Twist. lipids Twist. to finest. to finest. Upldt Hong Kong 1.062 8,022 13.066 7,684 British Australasia. 21,788 34.679 283,692 266,576 d. d. s. d. s. d. d. d. d. s. d. s. d. d. Hawaiian Islands* 211,865 Philippine "5.369 "'232 ' 6,580 Oct. 4 7 «8 5 3 98 lis 4% 914 ® 10*8 5 8 98 3 6'ifl Islands 28,536 7 Other Asia and Oceantca., 8.815 8,318 74.807 78,069 " 11 7H ©8ifl 5 4 98 3 431 32 8i5 16 »9 e 5 6ifl»8 Ik 6 Africa , n,895 2.381 70.631 27,062 " 18 7&16 «83l6 5 4>*08 3 42932 8h t»93i 5 6 98 5*8 gsg Other countries 136 845 6,429 7.400 " 25 7*e »8 5 3iflf>8 2 4H 16 «9k 5 4k»7 11 5732 7 7 9 Nov.l 7 «7 8 5 3 OH Ik 4 16 83s 99^ 5 4k»7 11 J> 32 Tot. value of oth. manufact's of. $495,117 $448,808 $4,641,011 $4,703,513 " 8 «7*« 5 Ha'sS 45 5 11 59 6% 16 8H o93a 4k»7 32 Aggregate val. of all cotton goods' t2.755.354 $1.351.739 $19.6^6 808 $16,626.406 Sea Island Cotton Movement.—We have received thi^ * Commerce between the United States and Porto Rico and Hawaii not included after Jane 30, 1900. (Friday) evening by telegraph from the various ports th details of the Comparative Port Receipts and Daily Crop Movement. Sea Island cotton movement for the week. The —A comparison of the port movement by weeks is not receipts for the week ending to-night (Nov. and sine 8) accurate, as the weeks in the different years do not end on Sept. 1, 1901, the stocks to-night, and the same items for th the same day of the month. We have consequently added to corresponding periods of 1900, are as follows. our other standing tables a daily and monthly statement, that the reader may constantly have before him the data for 1901. 1900. Slock. seeing the exact relative movement for the years named. The Receipts to Nov. 8. monthly movements since Sept. 1, 1901, and in previous This Since This Sinct years, have been as follows: week. Sept. 1 week. Sept. 1 1901. 1900

Savannah 3,343 13,306 4,178 21,781 7,801 17,285 Monthly Year 1. Charleston, &o. 408 1,696 613 2.955 1,362 2,284 Beginning September Florida, Ac 367 579 569 1,876 210 10 Receipts 1901. 1900 1899 1898 1897. 1896. Total 4.118 15,581 5,360 26,612 9,373 19,579 Sept'ber 446,768 622,783 800,866 697,784 786,702 912,486 The exports for the week ending this evening reach a total October. 1,559,531 2,516,711 1,131,065 1,735,660 1,424.907 1,468,516 of 684 bales, of which 369 bales were to Great Britain, 315 Total.. 2,006,293 2,139,494 1,931,931 2,433,444 2,211,609 2,381,002 to Prance and — to Bremen, and the amount forwarded to P'o't'geof cot. port receipts Oct. 81.. 28-13 29-38 25-49 34-93 Northern mills has been 1,741 bales. Below are the exports 2875 for the week and since Sept. 1 in 1901 and 1900. This statement shows that up to Oct. 31 receipts at the ports this year were 138,195 bales less than in 1900 and Week Ending Nov. 8. Since Sept. 1, 1901. North'n Millt. Exporti 74,368 bales more than in 1899. By adding to the totals to from— Oreat Fr'nce Great Fr'nce Since Total. Total. Week. Oct. 31 Brit'n. die. Brit'n. dc. Sept.l the daily receipts since that time we shall be able to reach an exact comparison of the movement for the Savannah. . 132 132 853 352 1,205 1,504 3,653 Oharl't'n.&c "331 331 331 331 50 different years. "237 Florida, &o. ""38 399 New York.. "Ira "2*2'i "583 "437 W>20 Boston ""25 "*25 1901. 1900. 1899. 1898. 1897. 1896. Bait., Ac Oct. 31. 2,006,299 2,139,494 1,931,931 \ 2,433,444 2,211,609 2,381,002 Total 369 315 684 1,792 789 2,581 1.741 4,102 Nov.l.. 50,813 42,731 32,006 71,483 66,050 8. " Total 1900.. 743 125 848 2.610 1,171 3,781 1,323 5,314 2.. 46,235 38,458 28,409 75,492 57,269 54,948 " 3.. S. 43,761 83,441 56,493 53,890 50,908 A considerable portion of the Sea Island cotton shipped to •• 4.. 61.017 8. 33.015 88,951 57,044 44,105 foreign ports goes via New York, and some small amounts via " 5.. 76,049 45,436 S. 57,877l 77,002 42,254 " Boston and Baltimore. Instead of including this cotton for 6.. 53,001 55,775 49,2*52 8. 58,619 62,805 " 7.. 53,753 52,187 41,502 8. 87,960 the week in which it leaves the Southern outports, we follow 68,759J " 8.. 65,379 42,612 42,454 81,156' 68,079 8. the same plan as in our regular table of including it when 2.412,546 actually exported from New York, &c. The details of the Total.. 2,460,454 2,197,010 2,933,655 2,649,554 2,673,982 P'o't'geof tot. port shipments of Sea Island cotton for the week will be found receipts Nov. 8. 32-35 3342 34-66 30-54 39 23 under the head " Shipping News," on a subsequent page. This statement shows that the receipts since Sept. 1 up to Quotations Nov. 8 at Savannah.—For Georgias extra fine, to-night are now 47,908 bales less than they were to the 15@15^c; choice, 16@16>£c.; fancy, 17^c. same day of the month in 1900 and 215,536 bales greater Domestic Exports op Cotton Manufactures.—We give than they were to the same day of the month in 1899. below a statement showing the exports of domestic cotton We add to the table the percentages of total port receipts manufactures for September and for the nine months ended which had been received to Nov. 8 in each of the yearg Sept. 30, 1901, and for purposes of comparison like figures for named, —...... i • J 1 1 ......

~~November 'J, 1901. THE CHRONICLE. 1019~~

Weather Record for October.— Below we give "»' July. S- 'jer. for the of October 17X1 IHOI*4StW thermometer and rainfall record month 1901. 1800 1800. 19ol 1000 1901. 1900 1809. and previous months of this year and the two preoeding the records of the M IMISS'IM years. The figures are from Weather IPayflSSbOft) 98-0 Bureau, except at points where they have no station; at those Highest.. 94 1 98-0 050 960 1.8 010 950 900 S70 Lowest... ttll'O t>- i 02-0 51-0 400 points they are from records kept by our own agents. Average.. 82-0 80-6 b2-o 809 76-8 777 87-3 AKKANB'B October. July. August. Ssptsmi Little llock.-

~~Tkennometei 98*1 10 -o 100-0 9ii'i -6 1 88-0 Highest. . 108-0 980 050 IW01. 1900 1901. 1900- 1899 1901. 1WOO. 1,199 1001. 1899. 62-( 66-1 r,7n 46-0 1808 Lowest . 86-0 081 660 4*0 470 40-O~~

-. . ~__- " 800 81-0 81 73 78-0 720 1 Average.. 840 800 VIRGINIA II. Una— 94-0 oi-< 1001 0«i 06-0 oi-o 030 Norfotk.- Highest... 102 5 t 880 92*0 99-t 08-0 90-0 ."1 Higheet... 100 u lOiO «vu l( 00 900 930 Lowest ... 610 U 680 60-0 45-0 650 4*'0 •iU-0 IfO 65-0 67-0 67l 61-1 121 Lowest .. 68-0 24-0 650 66 001 4H-0 Average.. 9J'4 80-8 88-3 79-3 81-1 82'* 70-7 76-a 7>U 6.0 on 61-i Average.. 8.-o 810 79 7b-0 82 1 781 73-0 780 72-L 600 640 Fort Smith- 104-' Highest.. 1060 030 951 101-0 i o- 108*0 950 060 08*0 67-0 40-. W. CAR'LA Lowest. ... 66-0 650 62-0 64-( 68-0 10*0 100 450 880 Wilmington Average. 86-0 80-0 800 8*-0 84-0 7l-0 7b'0 730 06b 070 Highest. 96-0 08-1 92' 970 llvt 920 94-0 94t 8V0 880 Co mtleu — Lowest... TOO 81 B8-( 81-0 850 55-0 56-t 60< 18-1 460 14*0 Highest... 105-0 05-0 09-0 960 97-0 102-0 92*0 ioo-o 101-' 01-1 000 Average.. 70-0 81 3 780 78-8 80 710 76-8 730 84 830 56-0 86*0 64-0 4ii 65-0 10-0 42"l 36-0 | 660 Lowest 65 650 81-0 70-0 71-0 Weldon.— Average.. - 880 810 820 730 660 700 Highest... 90- l"0-0 95-0 910 99-0 95-0 97-0 S'O • 70-0 780 Corning— Lowest — 680 60-0 63' 650 610 841 61-1 48-1 3.-' 350 310 Highest... 1110 98-0 102-0 103 08-0 04*0 102-0 eo-o 04-0 .-..'•1 70-8 74-5 89-.' Average. 803 85-7 77 3 778 77-6 681 68-8 60 Lowest 64-0 500 63-0 J 5-0 66-0 610 ;i:.-o 40-0 81-0 31' 81-0 78-0 81-0 09-0 63-8 83-0 Charlotte— Average.. - 81-0 78-0 79 820 700 750 Highest. oat B8-{ 100 ci 900 99-0 930 84-0 88-0 820 6H-u 00*0 87-0 63-0 50-0 44-0 3b'u 42-0 Lowest . . BS-0 630 620 36 TKNNKS'E. Average.. too .01 790 820 790 7U-0 760 700 61-0 66-0 610 NostiV Hi Raleigh— Highest. 102-0 04-0 93-0 99-0 98-0 08-0 91-0 01-0 08-0 88-0 880 .... Highest.... 9S-U li Oi 96-0 99-0 07*0 92-0 961 1000 88-1 83-1 B8*0 Lowest 81-0 620 84-0 66-0 68-u 44-0 60-0 380 370 440 .... 45-0 88-0 Lowest .. BS*< W0 8a-0 65 500 62-0 88-1 880 Average., 830 80-0 80-0 70-0 82*0 80-1 7O-0 70-0 70-0 610 060 .... Average.. 800 809 *ft*0 78-0 7o-6 71-0 75*8 70-i 60-8 0}0 62-1 Memphis. - Uorganton - Highest... 104-0 02-0 910 102-0 98-0 9T': 910 010 90-0 80-0 870 87-0 93-0 93-0 Highest... t»8*o 8(!-0 no B8-( 87-0 920 88-0 790 82 7 5-0 Lowest 62-0 67-0 65-0 63-0 05-0 070 48-0 610 88 14*1 46-0 41-0 57-0 64-0 62-0 30'd 37-1 Lowest . . ai'O 650 400 430 340 Average.. 81'2 80'2 723 79-2 81-9 b2-8 72-3 78-1 72-6 64-8 676 000 Average.. 79-2 77-5 756 69-0 77-8 780 83 9 70-0 66-4 646 640 664 Ashwood.— Highest.. 1080 020 100 101 -o 980 070 96-0 86*0 09\ 82-0 640 87-0 ">4-0 B.CAROL'A Lowest. .. 58-0 660 660 600 06-1 43-0 430 350 33-0 610 33-0 Charleston.— Average.. 83-0 77-3 78-0 73-0 79-0 81-0 880 786 76-0 0«1 07 090 Highest. .. pro 961 88 ( 990 100-( 900 B8-I 95% 84-0 82-0 880 Lowest 710 73. 70 720 720 70-0 81-0 64-0 67( 50-0 66-0 60-0 TEXAS. 81*0 830 81-u 81-0 81-0 33"0 77-0 80-0 870 70-0 Average.. I 770 69 Galveston.— Sta'eburg.— HUhest.... 95-0 89-0 81-0 95-0 90-0 930 88-0 01-0 92-0 910 86-0 Highest... 960 101-0 1011 910 106-0 1020 93-0 99-0 95-0 8T0 89-' 87-0 Lowest... 70-0 71'0 72-0 70-0 72-0 68-0 68-0 7o-0 07-0 600 600 1 67-0 67-0 55-0 48-0 41-0 Lowest... 680 69 610 650 520 410 41-0 Average.. 88'0 82-4 833 84 88-fl 83-4 78*0 842 797 70-4 74-0 Average.. Bl'8 8i-4 810 78*5 819 81*6 740 79-8 737 611 695 85-1 Palestine.— 96-0 98-0 90-0 Columbia— Highest. . 101-0 92-0 97-C 99-0 93-0 100-0 93-0 00-0 900 100-0 99-0 92-0 106 92-0 Highest... 1050 100 1001 970 860 871 830 Lowest. ... eo-o 67-0 «3-0 ',00 67-0 07-0 49-0 060 43-0 42-0 48-0 400 Lowest 87'0 650 610 08-0 67-0 660 53-0 550 450 88-0 390 420 Average.. 83'4 800 81-0 83-5 80-0 84-0 75-0 810 70-0 68-0 70-0 700 61-6 62-i 79-2 85-1 82-2 78-6 88-3 Average . 82 736 78*0 631 642 Abilene.— Anderson— Highest... 101-0 960 102-0 103*0 100-0 104-1 96-0 96-0 97-0 91-0 92-0 Highest.... 90-0 91-0 oa-o 95 99-0 100-0 93-0 90-0 91-0 87 820 (-5-0 Lowest.... 67-0 660 61-0 66-0 Ol-o 72-0 62-0 67-0 52-0 42-0 44-0 Lowest .. 69\ 02i 510 65-0 60-0 61-0 51-0 460 35-0 40 390 33-0 Average... 86-0 81-0 820 85-0 8f0 871 70-0 77-0 760 88-0 090 Average. 82- 75-8 77-8 77"B T9-5 79-5 76 7 7Sb 677 75-0 63 4 78 6 San Antonio. Greenwood— Highest... 101-0 98-0 100 1030 98-0 101-0 97-0 97-0 98-0 64-0 98-0 92-0 Highest. 10 i-o 101-0 1050 97-6 1040 1020 910 94-0 95-0 86-0 87-0 88-0 Lowest 70 690 66-0 71-0 69-0 71-0 54-0 68-0 66-( 45-0 400 40-0 Lowest B5'0 62-0 570 65-0 67-0 68-0 48-0 520 41-0 37-i 430 390 Average... 84-0 82 88-0 880 83-0 86-8 780 82-0 78-0 72-0 730 72-8 Average... 83-0 ei-i 780 78-9 85-0 81-0 7v»"f 73 70-0 490 66-0 61-0 HwntsvUle.— Highest... 98-0 98-0 96-0 102-0 94 88-0 940 930 900 02-0 90-0 89-0 GEORGIA. Lowest 69-0 87-0 63-0 68-0 670 080 481 08-0 350 41-0 50-0 40-0 Augusta.— Average.. 84-4 81-8 82-3 85-4 81-1 80-1 770 81-4 71-2 68-6 70-8 70-6 Highest.. 99-0 97'( 1000 92-0 102-0 98-0 920 05-1' 95-0 85-0 880 Longview— 70'0 66-(i 61-0 66-0 69-0 63-0 55-0 46-0 Lowest 560 * • • • 440 460 Highest.... 1086 100-0 104-0 1040 98-0 1080 990 1C00 106-0 920 03-0 82-0 81-8 79-0 811 82-0 Average.. 810 744 79-0 742 . ... 69-0 65 Lowest ... 67-0 69-C 60-0 690 680 70-0 50-0 600 41-0 48-0 41-0 Atlanta.- Average. 85-7 88-2 84-1 85-1 831 88-1 76-0 82-1 767 70-1 19-6 Hlghest... 98*0 98-0 971 91-0 98-0 96-1. 88-0 91-0 98-0 80-0 830 840 84-0 85-0 Lowest 62-o 82*11 ! 68-0 63C 49-0 50-0 400 41-0 49 430 OKLA. T. Average.. 80-0 79-0 79-01 76-0 81-2 80-0 72-0 76-1 716 620 67-0 63 6 Oklahoma— Savannah.— Highest.... 102-0 94-0 02-0 104-0 98-0 102-0 920 97-0 06-0 89-0 0B-O Highest.. 9fl-0 99-0 B8*0 89'C 1021 1000 94-0 96-0 91-0 88-0 86-' 960 Lowest 66 60-0 66-0 64-0 63-0 680 41-0 51-0 12 410 300 70-U 70-0 850 66-0 69 67-0 53-0 50-. 53-0 51-i Lowest 590 630 Average. . 850 79-0 79-0 82-0 80-0 83-9 78-6 74*1 72-2 »••• 64-8 05*0 Average... 814 82-1 813 79-8 840 830 76-8 79 764 66-8 7i"4 68 2 FLORIDA. Jacksonville* July. August. September. October. Highest... 97-0 97-0 96-0 93-0 1011 881 920 98'0 930 84 "0 86'i 97 Rainfall. Lowest.... 700 68-0 67-0 6-V0 70-. 69-0 64-t 631 64-0 51-0 690 64-0 1901. 1900. 1899 1901. 1900. 1899. 1901. 1900. 1880 1901. 1900. 1880. Average... 83-i 82-0 81*0 800 84-( 83-0 78-0 80'0 77 700 75'i' 72' lampa.— VIRGINIA. 93-0 95-0 9i-(j 93-0 93-0 Highest. . 920 91-0 93-0 98-0 88-0 88-0 860 Norfolk.— Lowest 85-0 71-0 680 70 68-0 70-0 8o0 68-u 62-0 68-0 64-0 590 Ralufall.lD 316 6-51 5-82 9-92 8-37 2-73 6-80 1-92 37 8£4 8-22 8*47 Average.. 82-0 82-0 80 80-0 82-0 82-( (-0 810 79-0 74-0 77-0 740 Days rain. 14 7 18 13 9 10 9 7 7 4 7 8 Jupiter— Highest... 92- 910 91-0 90-0 93' 93-0 90-0 92-0 91-0 88-0 87-0 89-0 N.CAROL'A 70-0 71-0 74-0 Lo west . . 71-u 690 720 600 73-0 70-0 660 69.0 82-0 Wdmingt'n- 81-0 80-0 83-0 8-25 8-0& 1-00 6-79 5-38 2-38 2-00 4-20 Average . bl-2 8l-o S2-0 80-8 81-7 800 77-4 70 6 77 Kainfall.in 103 682 012 269 taUahauee— Days rain 12 8 14 17 10 14 8 6 1 6 9 8 Highest... 951 92-0 98-0 89-0 91-5 921 910 91-0 90-0 820 90-0 84-0 Weldon.— Lowest — 65-0 68-0 OrO 69-0 081 69-0 540 66-0 52-0 48-0 58-0 66-0 Rainfall, in 7-48 8-18 10-30 11-07 2-66 2-59 692 8-35 3 82 3-21 1-25 5-27 80-7 Average... 773 82-8 78'tt fc0-8 808 730 78-8 76-5 87-5 71-2 095 Days ratu . 12 12 18 10 11 6 7 4 10 10 Charlotte - ALABAMA Rainfall, in 6-38 3-55 6-9e 1066 3-05 4-08 6-43 0-73 2'0* 1-04 341 401 Hontgom'u — Days rain.. 14 11 11 23 6 7 8 2 10 7 Highest.. 105-0 91-0 88-0 930 99-0 90-t 92-0 05-0 961 90-0 88'0 RaUigh- 67-0 88-0 8-86 8-26 5-12 Lowest . 6H-U 640 690 87-0 520 68-0 45-0 540 45-0 Rainfall.ln 714 653 1121 461 337 313 8*88 162 104 80-0 . 81-0 Average 830 810 83-0 82-0 740 790 75-0 710 6S-0 Days rain.. 15 10 18 18 6 12 8 6 10 | 6 9 10 Mobile.— Morganton.— Highest.. 102-0 94-0 960 900 93-0 97-0 92-0 94-0 950 84*0 90-1 870 Rainfall, in 1-30 2-65 4-18 1470 1-40 4-13 4-10 2-10 2-47 0-C9 3-80 115 Lowest... 710 70-0 690 69 690 680 54-1 65-0 60-0 44-0 54-0 600 DayB rain.. 5 3 10 19 8 6 3 a 2 4 Average.. 820 81-0 81-0: sj-o 81-0 84-0 760 80-0 76-0 67-0 72-0 70-0 Newton— 8. CAROL'A 100*0 - Highest...... 91-C • • • 1)60 97-0 93-0 95-0 9l 84-0 Charleston— 63-0 6-53 1-69 5-11 1-77 0-86 Lowest 59 * •• 62-0 64-0 82-0 41-0 47*0 44-0 Rainfall, In 495 0-40 3-06 0-40 2-34 4-63 3-48

. 79-4 Average. . 780 .... 79-0 79-0 85-0 72*0 000 65-0 Days rain.. 17 11 16 16 ia 17 10 9 11 10 15 18 Birmingham Staieburg— Highest... 104-0 94-0 99-0 96-0 100-0 98 910 91-0 98*0 88-0 870 Rainfall, in 4-27 2-87 1-9J 6-17 1-83 0-70 8-36 1-27 8*84 0-56 815 7*87. Lowest 6*0 030 B2-0 650 69-0 870 42-0 58-0 42-0 49*0 42-0 Days rain.. 10 12 9 16 5 13 8 7 10 8 Average... 83'0 800 80-9 79-0 820 82-( 720 79-0 74*0 690 68'0 Columbia.— Tuscumbui— Raiufall.ln 2-68 1-35 5-27 7-76 o-oi 0-28 0-13 8-29 313 047 1-88 6*96 Highest... 104-0 93-0 100-0 H 980 loo-o 800 95-0 99-0 85'0 87-0 Days rain.. 12 16 12 16 7 13 6 5 9 5 11 7 Lowest... 81*0 020 69*0 610 64-0 07-0 44-0 48-0 37-0 45'0 39'0 Anderson— Average-. 850 79-0 81-0 77> 81-0 83-0 70-O 78-0 720 06'8 66-0 Raiufall.ln 4-20 8-40 4-01 17-35 1-80 3-06 8-30 8-87 287 0-08 508 4*91 Days rain.. 11 7 11 4 * 6 8 7 6 LOUIS'NA Greenwood— N. Orleans.— Rainfall, In 2-58 1-05 2-17 8-61 1-17 0-10 5'92 2-45 380 1-28 4-10 5*06 Highest.. ioa-o 920 930 98-0 94-0 86-01 92-C 93-0 9o'0 86-0 90-0 88-0 Days rain.. 6 4 6 18 4 9 6 1 6 2 8 7 Lowest 70-0 71-0 69-d 88-0 700 71-0 55-0 71-0 57-01 58.0 r.u li 65-0 82'8 81*2 Average.. 830 82-0 82-0 84-0 78-0 82-0 77-6 700] 74-0 710 GEORGIA. Bhreveport.- Augusta.— Hlghest.. 1070 950 1010 99-0 96-0 104-0 95-0 08*0 101-0 930 92"0 900 Raiufall.ln 3-44 284 3-74 8-88 442 6-17 5-08 2-32 2-81 2-08 4-40 08-0 62-0 67-0 Lowest 680 070 68-0 48-0 61'0 49 42*0 48'0 40*0 Days rain.. 11 10 8 18 8 10 6 6 8 J • • . 10 7 84-0 83-0 Average... 81-0 830 82-0 88-0 750 820 76-0 67'0 70'0 70*0 Atlanta.— Qr'd Coteau- Rainfall, in 5*37 4-51 0-4* 988 1-70 3-16 8-78 8-62 827 0-60 8-70 3*71 104-0 - Htghest.... 930 1030 960 95-0 1020 910 97-0 97 90*0 03-0 69*0 Days rain.. 10 15 15 22 8 10 10 4 4 4 10 9 Lowest — 880 690 76-0 87-0 08-0 67-0 4T0 830 44'0 41'0 600 42*0 Savannah.— 82-6 79'4 86*0 Average.. 81-7 810 82-9 75-7 81*0 782 61'7 71'0 70*9 Raiufall.ln 3-69 202 407 8-44 201 904 B*18 439 0-98 6-87 3-03 Liberty Blll- Days ralu.. 12 11 10 16 8 14 9 11 4 11 10 111-0 Hlghest... 1000 1C5-0 101-0 990 108-0 98-0 98-0 103-0 93-0 96-0 93*0 62-0 63-0 Lowest 680 67-0 61-0 66-0 44-0 81-0 401 87'0 46'0j 38*0 FLORIDA. 87*0 81-0 Average.. 840 84-0 82-0 87-0 70-0 70-0 72'0 65-0 71-0 60'0 Jacksonville- MISSISS'PI. Ralufall.in 4-26 3-83 6-12 612 307 3 90 738 4-33 5-H. 1-37 714 2-78 Columbus.— Days rain.. 12 11 13 21 6 12 12 16 8 18 17 102-0 96-0 Highest. 100-0 960 980 lO^O 95-0 93-0 98- 91*0 94*0 81'0 Tampa.— 63-0 64-0 Lowest . 72-0 62-0 6-82 4-40 0-60 4-98 5-18 4-80 8-Sf 0-38 4-00 71-0 700 i-J 70 401 37 "0 48-0' 400 Raiufall.ln 15-68 B-08 2-12 Average.. 81*0 84-0 84-0 70-0 80-0 88-0 680 830 70-0 84-0 70-0 Days rain.. 22 23 21 24 17 14 17 18 10 6 10 14 Vicksburo— 77-Oj Jupiter— 100-0 94-0 7-02 Highest... 920 94*0 93-0 96-0 920 96-0 980 87'0 92*0 89*0 Raiufall.ln 7-22 340 8-76 1213 118 6-98 9-71 IV87I 7-08 10-11 16-08 63-0 64-0 jowest ... 690 69-0 07-( Days rain.. I 18 15 21 11 10 13 83 24 670 48-0 62*0 491 48-0 46*0 4'J-. I 11 80 16 Average.. 82 S»t) 81-6 81-0 81-0 620 76-0 81'0 71'0 67-4 700 70-0 Tallahassee—} LStand— Raiufall.ln 8-25 10-31 3-21 18'40 3*01 1148 6-84 4*84 8*45 0-08 6-46 3-80 90-0 Highest... 98 92-0 P8-0 94-0 P6-0 91-0 97-0 970 88*0 92-0 950 Days rain.. 13 15 10 20 9 9 7 8 1 8 61-0 60-0 Lowest I 690 610 85-0 68-0 43-0 65-0 89-0 40*0 16" 35'0 ALABAMA. 1| 78*2 — Average. 77-41 80-8 77-8 78-8 79-6 71-1 86-0 70-9 62*3 860 66-9 Uontgom'u arookhaven- Rain fall, in 1-85 4-53 18-1'

~~1020 THE CHRONICLE. I Vol. LXXIII.~~

.1 iily. August. Si pti mhi r. October. The foregoing shows that there has been exported from the liatn'ail. United 1901. 1H00. 1899 1901. 1900. 1899 1901. 1900. 1899 1901. 1900. 1899. Kingdom during the twelve months 1,210,124,000 Idb. of manufactured cotton, against 1,219,799,000 lbs. laet year, or ALABAMA. a Newton - decrease of 9,673,000 lbs. Kalnfall.ln 611 6-70 282 856 8-16 1-24 8 52 103 A further matter of interest is the destination of these DayB ruin . 15 11 5 U 5 2 8 4 Birmingham exports, and we have therefore prepared the following Rainfall, In 631 7-8^ 7-61 13-83 1-99 a-\b 6-6'J 8-76 0-01 7-18I 1-53 statements, showing the amounts taken by the principal

Days rain.. 12 15 14 ie a 10 7 5 1 | 7 lurcumbta— countries during September and since October 1 in each of Rainfall, In 1-07 4-48 3 66 10 a* 1-83 070 4-83 20^ 0-96 6-791 I'll the last three yearB. Days rain.. 4 11 10 iy 4 6 V s e 8 4 EXPORTS OF PIECE GOOD8 AND YARNS TO PRINCIPAL COUNTRIES IN LOUIS'ANA SEPTEMBER AND FROM OCTOBER 1 TO 6HT MBER 30. New Orleans Ralnfall.ln 10 71 6-0 1- 5-45 580 419 231 380 3T» 0-80 2-67 365 0-39 Days rain.. 17 18 12 16 10 12 7 9 5 D 8 8 Piece Ooodt—Yardt. September. Oct. 1 to Sept. 80. Shreveport.— (000» omitted.) 4-00 5-86 0-98 373 8-OiJ o-ai 808 2-87 0-60 2-76 4-66 1-53 Ralnfall.ln 1901. 1900. I 181)9. 1900-01. 1899-00. 189b-99 Days rain. 9 14 19 10 9 4 7 4 2 3 7 6 Ord. Coteau- ait Indies 205.391 182.629 212,518 2,4-4,361 2,214.121 8,568,771 Ralnfall.in 7-50 9-31 1-05 4-80 820 5-23 4-43 1-68 8'3 101 8-75 1^6 Turkey, Egypt and Africa- 91,617 85.818 62,810 885.824 746,741 799.126 Days rain 16 18 12 11 12 19 11 7 4 4 8 3 China and Japan 44,786 1W.416 53,481 464,e65 690.168 693,061 IAbertyllM Harope (except Turkey)... 21,08 21.637 21,837 281.565 297.103 291,718 4'69 8-12 3-45 U.I 0-29 3-85 2-62 Ralnfall.ln 8 95 1 499 310 311 South America 2t»,121 10.177 37>28 135320 480,18 j 537,^82 Days rain.. 9 20 9 7 9 7 4 4 a 2 e 4 North America 22,266 21,827 27.721 287,860 341,647 302,189

1 V 1 other countries 28,011 31,9/0 29,471 3i 0,187 111.3d9 392,643 MI88I8'PI. Columbus.— Total yards. 442,300 388,874 416,': 65 6,200,389 6,166,849 5.170.661 Ralnfall.ln 199 5-21 5-64 9-91 042 6-4* 1-81 005 0-1B 1-10 6-38 2-22 Total value. £4.518 £1,070 14,212 £65.361 £62,247 £49.430 Days rain.. 7 8 10 12 4 11 4 i 1 1 8 8 Vicksburv. Yarns—Lbi. 0-91 Ralnfall.ln 3-35 630 2-60 3-41 012 1 r'. 8-64 212 2-10 157 4-41 (000« omitted.) Days rain. 9 21 9 11 12 10 6 8 a 4 14 5 dolland 1.311 1,786 2,326 26,918 25.672 28,151 Leland— Germany. 1.877 1,762 3,606 22,690 32,514 11,766 1-20 4-92 1-17 5-39 Ralnfall.ln s-io 712 1058 2 83 144 o-oo T38 Ml Oth. Burope (except Turkey 2,113 2,< 9^ 2,0i9 26.179 26,813 12.103 Days rain.. 4 10 a 4 8 2 6 2 o 3 6 3 Bast Indies 3,279 2,578 3,571 S7,:-i0;j 35.917 41.777 Brookhaven— China and Japan 1,693 680 2,859 12,621 17,872 24,136 Raiufall.in 3-26 11-06 7*20 4-40 S'44 3-o: S-85 1-83 2-0C 0-27 Turkey and Egypt 2,235 1,753 2,158 1P.919 18,394 26,670 Days rain. 6 13 7 5 8 5 3 6 2 *.ll other oountries 1,334 1,252 1,361 11.727 18,082 19,272 Waynesboro Ralnfall.ln 8-82 5-06 4-90 6-30 8-30 6-64 V95 506 0-50 6-78 1-25 Total lbs 13,845 11.683 17,898 160,589 175.171 222.791 Days rain., 7 9 9 10 5 8 3 4 1 6 3 Total value 1636 JE807 £686 £7,834 £7.992 £8.150 ARK'NSAS. Jute Butts, Bagging, &c—There has been very little Little Rock.- Hainfall.ln 2-90 3-77 7 84 139 4-31 1-83 707 331 2-8C 2-49 1-18 doing in jute bagging during the week under review, but Days rain.. 10 16 12 6 11 6 8 10 4 8 6 Helena— prices have been maintained. The close this eveniog is at Ralnfall.ln 0-87 360 6-60 9-45 3-99 1-84 5-97 3-51 0-50 1-82 8-60 0-77 Days rain.. 4 9 10 7 6 7 6 6, 2 2 9 3 5%c for \% lbs. and 63. for 2 lbs., standard grades. (Jar lots Fort Smith— Ralnfall.ln 323 1-23 6-14 0-58 3-01 1-16 042 376 0-34 .... 6-19 331 of standard brands are quoted at 5^@6^c., f. o. b., accord- 10 3 6 1 11 5 Days rain . a 9 5 2 10 Camden— ing to quality. Jute butts dull at 1%@\%g. for paper qual- Ralnfall.ln 4-69 8*58 i-eo 0-62 2-13 1-26 5-20 3 8' 205 .... 3-13 2-28 Days rain.. 9 8 7 3 6 4 6 4 2 4 4 ity and 23£@2J£c. for bagging quality. From Messrs. Ira A. Corning— Ralnfall.ln 0-48 3*66 3-36 1-87 2-42 3-6E 0-77 6-86 9-8< .... 2-42 361 Kip & Co.'s circular we learn that the deliveries of jute butts 9 Days rain.. 5 9 8 7 8 7 2 2 6 6 and rejections at New York and Boston during October were TBNNES'E. 154 bales, against nil for the same last year, and for Nashville.— month Ralnfall.ln 2-59 2-87 6-44 8-21 1-24 253 4-27 4-55 1-60 0-63 3-98 the ten months the deliveries reached 241,416 bales, against Days rain.. 6 9 10 16 5 9 7 7 6 3 7 Memphis.— 236,258 bales in 1900. The aggregate stock in the hands of Rainlall.ln 0-45 256 5-96 6-78 0-48 2-08 6-56 2*73 0*52 1-67 3-43 1-78 Days rain.. 3 8 9 9 4 7 6 8 3 4 9 5 importers and speculators at New York and Boston on Octo- Ashwood— Rainfall.ln 2-CO 4-75 2-58 6-30 2-78 302 347 2-50 1-09 0-95 4-f0 2-94 ber 31 was nil, against 100 bales at the corresponding date in Days rain.. 6 18 7 12 7 8 7 6 S 2 a 4 1900, and the amount afloat for the United States reaches TEXA8. 87,153 bales, against 32,950 bales last year. Qali'eston.— Kalnfall.ln 6-58 18-74 6-02 668 6-94 2 52 7'8l 3-07 1-86 5-54 1-86 The Exports of Cotton from New York this week show Days rain.. 10 11 6 10 15 a 11 12 .6 8 7 Palestine— an iacrease compared with last week, the total reaching Rainfall,ln 0-78 285 4*52 845 329 1-83 10-57 3-77 0-28 2-70 3-02 7-18 24,547 bales, against 11,689 bales last week. Below we give Days rain.. 5 14 9 4 11 4 6 11 2 3 6 6 York, Abilene.— our usual table, showing the exports of cotton from New Ralnfall.ln 028 2-59 1-38 0-81 2*11 o-io 1-81 9-8 0-4) 4-39 2-90 and the direction, for each of the last four weeks; also the Days rain.. 3 7 4 3 7 1 a 8 1 5 3 San Antonio. total exports and direction since Sept. 1, 1901, and in the last Rainfall.ln 3.79 2-24 2-85 0-98 4-05 o-oc 420 0-9; 0-67 012 2-94 1-31 column the total for the same period of the previous year. Days rain.. a 7 9 8 12 10 6 3 2 10 4 Buntsvflle.— BXPORTS OF COTTON (BALES) FROM NEW YORK SINCE SEPT. 1, 1901. Rainfall.ln 285 7-12 8*27 111 8-87 0-38 1-40 6-84 2-47 0-93 1*91 3-85 Days rain.. 7 12 4 8 2 3 3 2 a 5 Week Ending— Same Longview— Total period Rainfall.ln 3-55 313 1-81 1-47 1-28 0-83 6-12 601 04:- 8-78 5-BO Exported lo- aince Oct. Oct. Nov. Nov. previous Days rain.. 8 14 4 6 8 4 6 9 a .... 9 a Sept. 1. 18. 25. 1. 8. year. OK LA. T... Oklahoma— Llverpool 14,402 18,241 3,778 14,234 96,835 44,538 Rainfall.ln 0-02 818 6-17 3-03 2*62 0-89 0-67 7'28 1-36 .... 2-61 4-25 Other British ports. 100 1,524 33 437 4,856 17,909 Days rain . 1 6 13 6 4 3 8 14 3 8 6 tiXPORTS OF OOTTON GOODS FROM OREAT BRITAIN.—BelOW Tot. to Gt. Brit'n 14,502 19,765 3,811 14,671 101,689 62,447 cotton yarn, goods, we give the exports of &c, from Great Havre 1,466 1,645 376 1,033 7,108 7,050 Britain for the month of September and since October 1 in Other French ports. 1900-01 and 1899-00, as compiled by us from the British Board French... 1,466 1.645 376 1,033 7,108 7,050 of Trade returns. It will be noticed that we have reduced Total the movement all to pounds. Bremen 4,189 4.480 4,595 37,845 21,956 Hamburg 168 445 ""9*9 1,813 8,011 4,14£ 11,323 Yarni Thread Cloth. lotalof All. Other ports 1,000 200 omitted 000» No.Eoropi 1,168 4,399 4,925 4,694 43,807 41,290 1900-01 1899-00 1900-01 1899-00 1900-01 1899-00 1800-01 1899-00 Tot. to 2,577 4,149 27,086 7,045 Lbt. Lbt. Tds. Yd*. Lbt. Lbs. ~L~b~ Lbt. Spain, Italy, &o. 5,162 2,125 622 October 14,821 22.419 387,497 476.979 78.867 89,991 88.488 112.410 Allother November... 14,636 20,997 416,632 441,708 79,208 83,511 93,843 104.508 2,125 2,577 4,149 27,608 7,045 Total Spain, &c . 5,162 December... 16,769 18,247 407,658 424,880 77,501 80,330 93,260 98,577 Total... 22,298 27.934 11,689 24,547 180.212 117.832 Tot.lst quar 45,216 61,688 1,211,777 1,342,567 230,376 253,832 276,591 815,196 Grand Receipts of Cotton at January ... 17.198 19,803 482.633 464,047 91,756 88,226 108,948 108,028 The Following are the Gross February 16.678 17,140 426.411' 439,312 81.C6& 83,519 86,744 100,853 New York, Boston, Philadelphia and Baltimore for the past March 16,916 19,847 420,89i 466,772 79,594 88,260 95,589 108,097 week, and since Sept. 1, 1901. Tot. 2d quar. 1,329.944 1,370,131 252,117 259,994 801,231 816,781 New York. Boston, Philadelphia. Baltimore. Total 6 mos 2.541,721 2,712,698 182,798 513,826 676,822 632,279 Receipts tic e This Since T7ii* Since Since This Si | April 417,480 407.576 79.56t 77.486 96,174 94.263 from— This week. Sept. 1. week. Sept. 1. week. Sept. 1. May 420,698 429,266 79,982 81,610 95,080 98,240 week. Sept. 1. June 424,183 396,595 80,613 73,197 94.514 87,139 N.Orleans... 1,424 38,574 5.0C0 5,000 57,497 Tot. 3d quar. 1,263,161 1,223,135 340,164 232,593 285,798| 279,632 8,299 Savann'h Ac 7,526 66,368 801 1,986 1,066 16.363 Total 9 mos. 3.803,882 3,936,133 722.967 716,119 862.620; 911,911 • * • •••••

July 477,819 452,999 90,810 86,121 10K2S2 101,692 Florida .... 425 2,79) August 475.299 383.535 90,35a 71,056 107,710 88,209 So. Carolina 235 32,038 2,235 6,180 September... 442.8C0 386,374 84,037 78,455 100,885 87,778 No. Carolina 46 ~3,88r 10,292 80,292 1,6:1 9,097 4.808 le.soe Virginia.. .. 1,654 21,640 Total 4th qr. 1,395,408 1.228.908 265,288 233.632 817,377 277,679 North, ports 919 33,739 2,272 11,151 Total year.. i91,754 2 9.439 5.199.290 6,166,011 988,213 980,061 1,179,9971,189,490 Tenn., &c... 5.C01 24,650 2,?50 11,868 2,147 7,0C0 Foreign 230 1,998 4,962 200 Stockings and socks. 1,011 996 11.286 8.141 43,310 Sundry articles 29,086! 29,303 27,861 240,466; 20,896 9i,9:9 1,646 — -t-\ 2 931 8.776 11.629 17,700 Total exports of cotton manufactures. 1.210.1241.218,789 Last year.... 24,626 206,944 20.058 1 60,808 J% ... .

~~November y, 1901. IHE CHRONICLE. H»21~~

~~Russian Industries in the Realm OF Kara Cotton.— In Liverpool.—By cable from Liverpool we have the follow-~~

ing statement of the week's sales, stocks, Ao. . at that port, oar editorial columns to-day will be found an article under the above caption by our special Russian correspondent. Oct. 18. Oct. 25. Nov. 1. Not. 8 New ENGLAND Mill Situation—Mr. M. C. D. Borden has Sales of tbe week bales 43.000 30.000 31.000 47.000 Of wbioh exporters took. 2,300 2,700 1,700 1,400 announced a return on November 18 to the schedule of Of which speculators took 2,200 400 400 600 Sales American 33,000 23,000 25,000 wages prevailing in the Fall River Iron Works Cotton Mills 42,000 Actual export 3,000 3,000 5,000 *.ooo before the recent advance of 10 per cent was made. This Forwarded 57,000 57,000 63.000 62,000 Total stock -Estimated 138,000 152,000 169,000 229,000 will place all the mills in Fall River upDn the same wage Of whloh American— Est'd 83,000 94,000 101.000 16(3,000 ba?is again. Total Import of the week 28,000 78,000 76,000 139.000 Of whloh American 22,000 63,000 68,000 120,000 Egyptian Crop.—Mail advices to Mr. Fr. Jac Andres, of Muonnt afloat 200,000 295,000 391,000 454,000

Of whloh American , 178,000 269,000 360,000 425,000 Boston, dated Alexandria, Oct. 19, are to the effect that The tone of the Liverpool market for spots and future* The n< wb about next year's water supply Is very bad, and we may eaoh day of the week ending Nov. 8 and the daily closing see again tbe same advance we bad two years ago. prices of spot ootton, have been as follows. Shipping nbwb.—As shown on a previous page, the •xports of ootton from the United States the past week have Spot. Sat'day. Monday. Tuesday. Wcd'day. Thurtd'y Friday. reaohed 224,816 Dales. The shipments In detail, as made up Marketiet, ) Moderate Moderate Hurler. Firmer. Busier. Hardens. from mall and telegraphic returns, are as follows: 12 30 P. M. bnslnst*. demand. J Total baler. New York—To Liverpool, per steamers Oevlo (additional), Mid. Upl'ds. 4H 33 *7 16 *'16 493a 4% 4^)6 ft.OOO ...CuUo, 2,327... .Cymric, 6,350. ...Georgian, 857. 14,234 To Hull, per steamer Hindoo. 399 399 Sales. 5,000 8,000 8,000 6,000 9,000 8,000 To Glasgow, per steamer Furnessia, 33 Sea Island 38 Spec. Aexp. 500 500 500 500 500 500 To Havre, per steamers Bordeaux, 350 La Cbampagne (additional), 500. ...La Oasoogne, 183 Sea Island 1,033 Futures. To Bremen, per steamers Bremen. 4 595 4.595 Market Easy at Firm at Barely Easy at Steady at 3-64 de- 4-64 ad- 3-64 de- Steady. 2 64 3-04 To Antwerp, per steamer Brltlsb Prlnoe, 99 99 opened. steady.

savannah 11,578 »5 * \J(J fairly 7,031 18,475 •»• ••• •••• >**• t m extensive scale and at advancing prices. European Charleston 10,243 *-•- • ••••• lv(*4*J • advices have been of a much more encouraging nature, the N'p't News 1,745 • , / » ••*•• •«•• « •*•« 1 O boston.... 11,414 205 11,619 markets abroad showing a firm undertone, with values work- Kan Fran...... 900 900 Portl'd.Or ••»•• ••« •••• lfZHO lyZOU ing higher. There has been a fair amount of speculative buying in the local for ac- Total.... 118,707 25,355 59.877 4,232 14,087 405 2,183 224,846 and Western markets European count, Exports to Japan since Sept. 1 have been 14,068 bales from but thus far the actual export business transacted in the Pacific Coast. the spot market has been reported as only limited. Another Ootton freights at New York the past week have beer favorable factor has been the strength shown by the North- as follows, western markets, due, it is repDrted, to an active cash demand and a comparatively light movemant of the crop. Satur. Moil. Tues. Wednes. Thurs. Fri. Much colder weather and enow has teen reported in the Liverpool c. 15 15 15 15 13914 Northwestern States, and this, it was generally believed, will Manchester e. 17% 17% 17% 17% 17 HasTe c. 21 21 21 21 21 have a tendency to reduce the crop movement. Advices re Bremen c. 17 17% 17% 17% 17% ceived from interior points say that where farmers have lib- Hamburg c. 19920 19920 19920 19*20 19920 eral supplies of wheat on hand, they are using it to feed to Ghent c. 21 J« 21% - 21% 21% 21% o their stock instead of carting it to market and bringing back Antwerp .c. 15 15 e 15 16 15 p. feeding stuff?, which are selling at high prices. Reports from Reval, via HulL.c. 27 27 27 27 27 Reval, via Canal. c. 32 32 82 32 32 the winter-wheat belt state that the recent rains were bene- St. Petersburg... c. 27928 27928 27928 273)28 27928 ficial, but that more moisture is needed. To-day prices ad- Barcelona e. 30 30 80 30 30 vanced on rumors of large export sales at interior points, but Genoa e. 20925 20925 20925 20425 20924 the improvement was rot maintained. The spot markets Trieste e. 28 28 28 28 28 here and at outports were more active, fair sales being made Quotations are cents per 100 lbs. or fractions of a penny per lb. to exporters. .. . ' » V

~~1022 THE CHRONICLE. [Vol. LXXIII.~~

DAILY CLOSING I'KICES OF NO. 2 HKU WINTKK WIIKAT IN lOltK. NEW any special efforts to attract buyers in staple lines, nearly all Sat. Mon. Tue*. Wed. Thurt. of which are in good condition, and prices are steady in Cash wheat f. o. b 80*4 81^ 81'e 83% 83% these. Some plow-selling fancies have Deo. delivery Id elev 76\ 77% Holi- 78% 791a 79 e shown considerable irregularity Maroli delivery In ©lev . . 79% 80% day. 80'8 under pressure to move them. Satinets are May delivery In ele ? 79^ 79% 80>4 81*4 81*4 generally steady. There has been a fair demand for over- DAILY OLOHIKQ PRICKS OF NO. 2 8PRIHG TN CHICAGO. coatings and cloakings at previous prices. Woolen and Sat. Mon. Tuet Wed. Thurt. Fri. worsted dress goods have sold fairly in plain fabrics, but Nov. delivery In elev 70>« 70\ 71% 71»« 72*9 72*9 fancies are in indifferent request only and irregular. Deo. delivery In elev 70\ 7114 72% 71 ^ 72* 72'8 May delivery In elev 74^ 74 1* 75% 75 76 '8 76 DOMESTIC Cotton Woods.—The exports 01 cotton goods Indian corn future3 have been fairly active and firmer. from this port for the week ending Nov. 4 were 6,148 Prominent operators have been reported fair buyers and de- packages, valued at $259,437, their destination being to the velopments generally have been favorable to the market. points specified in the tables below: The movement of the crop has been very moderate, receipts 1901. 1900. at Western points being light and country offerings have New York to Nov. 4 been reported small. Recent estimates made public of the ITee*. Since Jan. 1. Week. Since Jan. 1 total yield of the crop were 1,400,000,000 bushels and another Oreat Britain of 1,600,000,000 bushels. Kansas City has been a particu- 25 3,951 52 2,033 Other European 33 1,362 80 1,427 larly strong market during the week, being considerably China 4,186 85,306 140,462 above the Chicago market, and it is reported that Peoria 100 5,492 4 11,038 distillers have been buyers of corn in the Chicago market. 37,699 25,441 1 8,856 Exporters have been limited buyers in the spot market and 3 3,601 West Indies 301 20.004 552 25,251 at advancing prices. Today there was a slight weakening 89 1,739 71 2,714 in prices, due to realizing sales by recent buyers. The spot 44 5,657 689 10,383 market was firm but quiet. 853 46,040 2.164 40,624 Other Countries 516 9,081 3 7,731 DAILY CLOSING PEIOEW OF MO. 2 MIXED CORK I NEW YORK. Sat. Mon. rue*. Wed. TKurt. Fri. Total 6,148 225,087 3,538 270,705 Cash corn i. o. b 61Vj 65i« 6578 66ifl 66M delivery In elev 64 65 Holiday. 65ifl 66 65% Deo. The value of May delivery in elev 64*4 65H 66*8 66% 66*6 the New York exports for the year to date has been DAILY CLOSING PRICKS OF NO. 2 MIXED CORN IN CHICAGO. $9,707,413 in 1901, against $12,066,361 in 1900. Home buyers Sat. Mon. Tuet. Wed. Thun. Fri have adhered to a hand-to-mouth policy in 7 Nov.dellvery in elev 57*4 57 8 58% 58% 59 58^ connection with brown sheetings and drills, while exporters 59J2 Deo. dellverv in elev . 58% 58% 59>s 59% 59*4 have generally contented themselves with making bids un- May delivery In elev. 60*3 61% 62 61% 62>4 61% practically low. Prices are without quotable change, but at Oats for future delivery at the Western market have been the close there is slight irregularity in some quarters. The fairly active and higher. The principal strengthening factor market is firm for cotton duck and barely steady for osna- has been a continued active demand in the cash market, with burgs. In bleached cottons the conditions are unchanged the crop movement only moderate and country offerings re- from a week atjo. Only light orders are coming forward and ported as limited. The advance in other grains also has had prices are steady. Wide sheetings are in limited supply and a strengthening influence upon the market. Locally the spot firm. Danims continue scarce in all grades, with a moder- market has been stronger and a fairly large business has ate amount of business at firm prices. In other coarse, col- been transacted. To-day the market weakened slightly. ored cottons there is a firm market also. Cotton flannels DAILY CLOSING PRICES OF OATS IN NEW YORK. and blankets are very quiet. 8at. Mon. Tuet. Wed. Thurt. Fri. The print cloth market has been quiet and price of regulars 44Lj Ho. S mixed In elev 42^ 43% Holl- 43^ 45 has declined %c. ; wide odds are l-16c. lower. In prints all 45i* Do, 2 white in elev 44 day. 45% 46% 47% lines of staples are firm, with a good demand for forward de- DAILY CLOSING PRICES OF HO. 2 MIXED OATS IN CHICAGO. liveries. Fancy prints are sold up in dark work and new Sat. Mon. Tuet. Wed. thurt. Fri, spring lines are not yet shown. Fine printed and woven- in elev 36 Nov.dellvery 36% 37% 38% 38% patterned wash fabrics Dec. delivery in elev 36% 37% 37% 37% 38% 38% are very firm, with a heavy business May delivery in elev.... 39 394 39% 39% 40% 40% done on spring account. The market for staple and dress style ginghams is Rye has been firmer but quiet, Barley has been firm, but also firm, with a quist business doing. business has been quiet. Foreign Dry Goods.—There has been no new feature in Following are the closing quotations: the market for foreign dress goods, a quiet business being FLOUR. done at generally steady prices. Silks are firm but quiet. Linens in Fine. .390 .so. ••••¥2 25 02 35 Patent, winter.... 93 75 ©4 00 moderate demand at full prices. Burlap3 inactive Superfine^ 2 50 ®2 55 City mills, patent. 3 95 94 50 and still weak. Extra, No. 3. .... 2 60 ©2 65 Rye floor, superfine 2 80 93 60 Extra, No, 1>. .... 2 75 92 95 Buokwheat flour.. 1 75 «1 85 Importations and Warehouse Withdrawals of Dry Goods, Clears.. ••s»u^.u.s^. 2 90 03 25 Corn meal- 8 3 s Straights ...^ji ?.. 3 35 ©3 75 Western, eto 3 25 ©3 75 S a las Patent, spring.;.. 3 85 ©4 55 Brandywine .... 3 40 to S3£9f5 •to (Wheat floni'ia cacks sells at prices below those for barrels.) r* 1— torrte » GRAIN. °I »: 2. ! 6! Wheat, per busn — 0. e. Corn, per bush.— 0. s« « • : 9 * • o • • Hard Daluth, N > 1 87%©88% Western mixed 64 ©66% °! § l : 1; ; ! N'thern DuL, No.l 79%»81% No. 2 mixed 64%©66% mS * ga * o: • Bed winter, No. 2 81%»83% Western yellow..yellow 67 ©68% 111It Hard N. Y. No. 2. 73%»79% Western whitewhite..., 66%368% B III Oats—Mix'd, p. bush 44%©46% Bye, per bush- • White 47 ©50 western 60%fl>63% — H No. 2 mixed 45 ©46 State and Jersey 61 o62 M H oco H ik to b 7,4682,615 b w « to ik -a boOMiktO No. 2 white 47%84S% Barley—Western 57 ©64 WS1OIWI-1 O o>cc ! *-t0O>0>C3 Feeding 52 ©57 CO t-' 00 00 1 -O.CJHOO to M to ~ For other table* agnail? given here see page 993. M OB W -> 05 CO H to too H toco ikOiOWO O OBJ-1 90 as to U> Ik Ik Ik tO 165,436 147,614 75,864 70,098 b loo 42,709 09 too <)t0*.-3-o 308,852 "0 13,318 19,990 10,066 titude of either buyers or sellers in the market. An 6,814 CD oco C0C5OO00 00 *-* Iko COCCOtOi-' upward turn in cotton on Saturday and Monday last 00 Q0O CO 030 01 to n: C3> 03 slightly firmer tone in some quarters where there caused a OM CO •OH MtO tO had been a disposition to meet buyers with small concessions, Ol 05 tOtOCOWW to 010 tOtOWtnOO QMOM00 bb MUuoQoao 'C C5k0 iobiobb btobWlo but this has since disappeared with renewed weakness in the to to co — K3 ik CO t— COi-i ooasoî© oimchuico-*: 00O 0000500 ~J GO CO CO CO CO CO CO Jk oop OS staple. The holiday on Tuesday and the great interest taken 00 om ©cob Mb CO <106 C*C0CW©-< W'eo'aits in the elections told upon the volume of business put through mco to ik "—CO to e< h-CO to — ~J CO to osx«o yico CD to omiococ* 3 COCO -3 35 1k CD CO OSOlOMOS and total results have been quite moderate. All danger of a M this tO wo a a Oik CO M 'fl strike at Fall River has been removed week by Mr. fV CO bio UMH^H CO b'to tOtOMikM CO CO CO OS >k Borden's announcement that on the 18th inst. he would re- too O5 0DMOC to K3 toco 00WO-4«J CO OS CC OS O duce the wages in his mills 10 per cent, putting them back to 01 CO 05 OOiOSOO© a COk CO ** vt w of 5 per cent each were given. The trade has been greatly CO Ik O**W00G0 CO CO Ik ik v w omoocoo coss. 00 to ikj-'Mp,!-' O 00 1-. pyoopp C3OOC0 0S9B « surprised by this action, and under it the market for print 1aao">k0o"y O Cnc* bobl-'Oi CO CO CO 30 CO e» blk • o* CO 35 ooOco^ t- COO 01 — en 01 to OS — CO OS OS cloths at Fall River has shown a decidedly weaker tone than 00O ookoscoos to 00 Ik cjiwowco mO>©OCX of late. Repoits from various jobbing centres show an aver- progress in both seasonable ikCO to 00 kU 00 age amount of business in goods Ik CO •JH tO-' M ik»J tOM MM cooosaoco and specialties for spring. WO COOlOOJ© 00 I O MOOD OCO ODOl moIoô okosxco ikCC to CO 00 OS CO IkCO Ol CO 0* toe* cc to CO too* !~ any movement of moment in connection with the sup- toa JktOCOÔ toco potoosp o ik oôs s; § ? plementary business in spring lines, and this is again a dis- "com bbbbb ~v>o bbbbib IkbVbtM to to OCOtOklk too OCSCOikOS OCOOCJiC^ appointing feature of the situation. Sellers are not making COOS COrfkCKikjk COCO OlkQQ-' Oi 05 tO OCO I 3 7

~~NOVEMBEH 9, lttOl.] THE CHRONICLE. L023~~

~~fuge. Location. Bale. Maturity. Amount. 1'rf 749..AllentowD. Pa 8»« 11*06-1931 10318 Stats md City Depabtment. 102 971.. Areola III ft 1907 1111 :j,ooo~~

»71. . HiillHion Bpa, N V.... 3*« 1008 104 7.^00 100 TERMS OF SUBSCRIPTION 80-2.. Anbury Park, N J 4 1931 18,000 105 1024. . H.-llt-vllle (111.) Mehool Diet. No 4 11911-1921 8,000 10853 The Investors' Supplement will be furnished without 1024. Hi-mldJI (Minn ) Bob. extra charge to every annual subscriber of theCoiuiKU cial Dlst ft 1911 12.' 102 558 922. .Billings, Mout 41.," (1911-1921 82,01 102-68 and Financial Chronicle. 972..Hnulford, Ohio 5 1913-1932 10,000 112-17 will The State and City Supplement also be furnished 864.. HnwHicr c<> . Texas.. 4 (1903 1921 14,4 HO 100 without extra charge to evevy subscriber of the Chkoncile. Huchannon, W. Va 4 (1900-1921 19 1 Oi) 100 Supplement will likewise be fur- (Mail, Me 4 1926 10'' 11302 The Street Railway 864.. Camden, N. J 5 0,000 100 the nished ivithout extra charge to every subscriber of 972. .Canton, O. (:i lcnaes) . 4 1902-1906 9.500 100-50 Chronicle. 972. .Canton. Ohio 81- 1916 20.KO 100-035 The Quotation Supplement, issued monthly, will also be MJ4..Casselton. N. Dak . 4»i 1916 6,000 1(0 111 923 Central (It v, Colo 4», (1911-1916 30,000 100 furnished without extra charge to every subscriber of the 1024.. Ceylon (Minn.) Sen. Chronicle. Dlst 6 1916 3.000 104 233 TERMS for the Chronicle with the four Supplements 923.. Cincinnati. Ohio 3>n 1911 35.O00 101-54 .Clearfield (Pa.) 8oh. 100 802. < per year within the United 3>a 1909-1931 {;0.000 above named are Ten Dollars Dlst < 100-25

States and Thirteen Dollars in Europe, which in both cases 864 . Cleveland, Ohio 4 1911 100.000 10611 includes postage. 864.. Cleveland. Ohio 4 1923 110,090 111-72 864. .College Hill. Pa 44 19C6-1926 10,500 100 10*4..Couneaut, Ohio 4 20,0(0 102-52 Terms of Advertising—(Per Inch Space.) 1024..Conneaut, 0.(6 issues) 5 67,6'0 106-60 Translentmatter(eachtlme)$4 20 Three Months (13tlmee).$2900 3 4.800 100 864..Dannemora, N. Y • STANDING BUSINESS CARDS. Six Months (26 times). 5000 3 40 7,200 100 Two Months (8 times) $22 00 TwelveMonths(52tlmes). 8700 803..DarkeCo.,O.(2 issu's) 6 1902 1906 93.000 106091 972. Denver, Colo 6 10,000 10117

J< 64. Dublin, Ga 5 1930 25,000 106 37 1025. .East Orange. N. J 4 1931 40,000 10441 MUNICIPAL BOND SALES IN OCTOBER. 972.. Fort Wayne (Ind.) Soh. Dlst 3Hj 1906-1921 125,000 102172 The aggregate of municipal bonds put out during 923. .Foster Twp., Pa 6 1904-1911 4.000 106-20 803..Freeport. Pa 15,000 100 the month of October 1901 ($9,779,197) fell far below 972. .Glen Kidge, N. J 1920 1930 35.000 107-314 1025. .Gonzales Co., Texas.. 11906-1911 30,(00 100 that of the corresponding period in 1900 ($16,421,185), 803.. Grand Meadow, Minn. 1911-1915 5,500 103 923. .Greenville, Pa 1902-1911 5,000 10118 but exceeded by over three-quarters of a million the 923.. Hardeman Co., Texas. (1906 1941 53,000 100 923..Harrlsburg, Pa 1931 75.000 100013 average of October for the previous nine years. The 865..Harrlsonville, Mo 11.500 100 ( 50,000 101-27 figures for 1900 were exceptional ones and included 749..Hoboken,N. J 3*a 1931 ^SO.tOO 10107 (96,000 100-77 large issues of bonds placed by New York City, the 803.. Hyde Park, Mass 4 1902-1918 17.0OO 105-896 803. .Hyde Park. Mass 4 1902 1921 60.' 00 106-77 Chicago Sanitary District, and by numerous other 804. .La Crosse, Wis 15,000 100-27 973.. Lawrence, Kan. (2 cities. issnes) 5 1902-1911 77,263 100-50 1025.. Le Mars, Iowa 4 1902-1905 4.0o0 10O25 The largest and the most important sale of the 973.. Lexington, Mass 4 1921 10.000 112-57 1902-1911 month just past was that of York City, which 924. .Lisbon, Ohio 5 5,000 10465 New 865.. Low Gap (Cal.) Sch. municipality on October 29 disposed of four issues of Dist 7 1902-1916 1,500 106066 924. .McLean Co.. IU 4 1902-1906 136.000 101-635 per cent 40-year bonds, aggregating $3,600,000, to 924. .Mason Co.. Wash 5 1902 1911 23,000 100 3$ 865..Mat>slllon (Ohio) Soh. the Central Realty Bond & Trust Co. and Lewisohn Dlst 4 80,000 102-885 804. .Miami Co., Ohio 5 25.000 103-416 Bros, of New York City at 107*21—an interest basis 973. Mobile. Ala 6 65.000 100 973. .Montgomery Co., O... 4 1905-1909 25,000 103-244 of about 3*178 per cent. 973. .Montgomery Co., O... 4 1910 15,000 104-50 804 . . Moose Lake, Minn 5 2,000 100 It is interesting to note the varying rates at which 8o5.. Mount Calm (Texas) 8ch. Dist 4 (1906-1921 7,500 100 the bonds of this city have been placed during the 924. .Nampa, Idaho 5 (1911-1921 15,000 100 1025. New Baden (111.) Soh. current year. In January a very low rate was ob- Dlst 5 (1903-1911 2,700 100-85 804.. N. Barnesville(Mlnn.) tained—namely, 2*937 per cent—a figure that has been 8oh. Dist 4>* 1911 101-375 4,000 : 865. Newport News, Va... 4 1941 100,000 100-50 but rarely approached. In March the rate demanded 8b5. .Newport News, Va... 4 1941 25,0( 100-40 804..Nrwton 4i* 1902-1921 increased to per cent, while in per Co.. Ind 44,800 101138 308^ May 3292 974.. New York City (4 is- cent was the best terms which the city could obtain. sues) 3*2 1941 3,600,000 107-271 1026.. Niagara FaUs, N. Y... 4 1921 115,000 11109 In June the figures had fallen somewhat, to 3*22 per 1026..Nlles, Ohio 5 1902-1906 13,675 102-486 924..Nyack, N. Y 3^ 1905-1920 ^•,000 100-58 cent, only to take a jump to 3*368 percent in Septem- 865. .Oconee Co., Oa 4^ 1912&1922 8,500 102676 1026.. Old Town, Me 3*2 1921 15,000 103-33 ber. The recent sale, therefore, is 0*19 per cent bet- 1026. .Orange Co., Texas 4 11906-1941 1.995 97-74 974. .Ottawa Co., Ohio 6 1902-1905 6,000 10603 ter than that of the preceding sale and the best that 974 Ottawa Co., Ohio 6 190 -'-1905 1,500 104-88 866..PlpestonoCo.,Minn.. 5 U906-1921 20,000 104-125 has occurred since March. 924. .Pittsburg (Kan.) Soh. Dist 4 1907-1917 35.000 100 Another large issue of bonds was that put out by 866..Plea8amvllle. N. Y... 3^ 1906 1930 25,0 101-29 866.. Plymouth, Ohio 5 1910-1929 20.0 '0 112-92 the city of Allegheny on October 7, when $1,098,000 974.. Prov o.Utah 4 1921 100,000 100 1026.. Rochester, Minn 5 " 25,000 106044 3£ per cents were sold on a 3*288 per cent basis to 974. Rockingham Co., N.H. 3 192l"" 29,000 100 1026..Roswell, N. Mex 6 (1921-1931 35,000 103857 N. W. Harris & Co., bankers, of New York and Chi- 974. .St. Clalrsville, Ohio.. 5 1905-1910 5,500 113-60 924. .St. Marys, Ohio 4*2 1902-1911 18.000 100-769 cago. 975 Salem, Ohio 4 1902-1923 22,0' 101266 924.. Sanduskv. Ohio 4 1913 12.i 00 102-386 The number of municipalities emitting bonds and 866.. Sardis, Mies 4^ (190(5-1921 15,000 100 3i-j the issues 866.. Seneca Falls, N Y.... 1902-1912 11.000 100 number of separate made during Octo- 975. .Silverton, Colo 5 1913 40.C00 100 ber 1901 were 144 and 172, respectively. This con- 867..Btamiord. ( onn 3^ 1921 25,0(0 103-419 867. .stark Co.. Ind 4*3 1902-1921 3S ^89 101 trasts with 134 and 159 for September 1901 and with 925.. Stevens Co., Wash.... 4*g (1911-1921 35,000 102028 975..8ummlt Co.. Ohio 4 1902-1912 6\o00 102-51 121 and 148 for October 1900. 92,=>..8wl8svale. Pa 4 1902-1931 105,000 101-985 925. Taunton, Mass 3^2 1911 35,000 102-89 In the following table we give the prices which were 975 . . Texarkana ( Ai k. ) Imp. Dlst No. 3 6 1903-1917 58,000 100 172 paid for October loans to the amount of $8,582,501, 867..Topeka, Kan 5 1902-1911 9,-.'48 100-50 926..Topeka, Kan 5 85,^51 101-25 issued by 105 municipalities. The aggregate of sales 975..Topeka, Kan 4 "l08l"" 58,i 00 100 805. .Trenton. N.J 3±» 1911 13.800 100 for which no price has been reported is $1/196,696, and 926.. Walla Walla Connty (Wash.) Sch. D. No. 4ki (1911-1921 13,000 100192 the total bond sales for the month $9,779,197. In 867.. Warren, Ohio 4 1903-1907 3, .".00 101 805..Watertown, Wis 4 1902-1903 6,000 100 the case of each loan reference is made to the page of 1027. .West Des Moines (la.) Soh. Dlst 4 (1906-1911 35,000 100 the Chronicle where a full of sale is given. account 751 . . Wey au wega(Wl8.)8oh. Dist. No. 1 4 1903-1912 20.000 101-2=) October Bond Sales. 926. .Whatcom Co., Wash.. 4*3 (1911-19^1 200.< 00 102-525 Paat Location. Rate. Maturity. Amount. Price. 868. .White Plains. N. Y.... 4 1921 10,000 10903 922.. Adrian, Mich. (2 Issu's) 3 $50,000 100 926.. Woodmere, Mich 3»a 1931 93,000 100-254 864.. Albany Co., Wyo *** 11911-1921 15,000 10110 976. .Xenia. Ohio 4 1902-1911 36,000 100-75 802.. Allegheny, Pa. (6 is- 806.. Yakima Co., (Wash.) sues) 3*9 1,098,000 102625 Soh. Dlst. No. 55 5 (1906-1911 1.3C0 100 — — ———— —

~~1024 THE CHKONJCLE. [Vol. LXXIII.~~

Page. Location. Rate. Maturity. Amount. Price. Alta (Cal.) Irrigation District.—Bonds Proposed—This 8<)6..YonkerH, S. Y 4 1903 *J7,0O0 10049 district has under consideration the question of issuing bonds 92C..Yonkers (N. Y.) Sob. to refund outstanding securities aggregating "$543 000 and Dlst 3 1* 1920&1925 13,000 10366 8(>8..YoungBtown, Ohio 5 1903 1907 700 101-857 coupons (being interestupon said bonds pastdue) aggregating 868.. Youngstown, Ohio 5 1903-1907 650 101-846 the further sum of $97,740." The new bonds are to be in denomination of $500. Interest will be at the rate of 6 Total (105 municipalities, covering 133 separate Issues) $8,582,501 percent, payable January 1 and July 1 at the office of the Aggregate of sales for which no price has District Treasurer in gold. Principal will mature as follows: been reported (3!) municipalities, cover- o* of the bonds in 11 years, 6* in 12 years, 7* in 13 yf-ars, 8* ing 39 separate Issues) 1,196,696 in 14 years, 9* in 15 years, 10* in 16 years, 11* in 17 years, Total bond sales for October 1901 §$9,779,197 13* in 18 years, 15* in 19 years and 16* in 20 years. Ashland, Ohio. Bonds Voted.—At the election held Octo- * t Subject to call In and after the Average of dates of maturity, ber 28 to determine the question of issuing $60,000 4% pani- earlier year and mature In the later year. fjNot lnoludlng $4 49,234 of temporary loans reported and which do not belong In the list; tary sewer bonds, the vote was 819 for to 131 against. Full alio ones not lnoluile $213,248 of Canadian loans reported. details of this issue have not yet been determined upon. sinking fund as an Investment, t And other con- IF Taken by Baraboo, Wis.—Bonds Voted. —The proposition to issue siderations. $60,000 water bonds carried by a vote of 666 to 58 at the elec- list Id the Chronicle of Oct. 5, 1901, page 748, a tion Nov. 5, 1901. of September bond sales amounting to $14,288,450 will Bellaire(Ohio) School District.—Bond Offering.—Propo- sals will be received until 12 m., November 25, by H. A. be found. Since the publication of that statement Lichtenberger, Clerk of the Board of Education, for $15,000 we have received the following additional reports. 4* Second Ward School bonds. Ten bonds are in denomination of $1,000 and ten of $500 each, all dated Dec. 15, 1901. Additional September Bond Sales. Interest will be payable semi-annually on March 15 and Page. Location. Rate. Maturity. Amount. Price. September 15. Principal will mature $1,000 on March 15 and 98*8 804..Longmont. Colo 4 11911-1916 $110,000 $500 on September 15 in each year from March 15, 1903, to 805. .Saginaw, Mich 4 1902-1911 6,000 100-75 Sept. 15, 1912, inclusive. certified check for 2* of the face 805..Wlnthrop (Cal.) Sch. A Dlst...:. 6 1902-1911 2,400 100 value of the bonds bid for must accompany proposals. Ac- 806.. Yakima Co. (Wash.) crued interest is to be paid by purchasers. In sections 3991 11906-1911 1,200 100-416 Son. Dlst. No. 34.... 5 and 3993 of the Revised Statutes of Ohio will be found the Total additional sales for September $119,600 authority for the issuance of these bonds. Belleville School District No. St. Clair County, 111.— These additional loans will make the total sales 4, Bond Sale.-Oa October 31 the $8,000 4* 10-20-year (optional) (not including temporary loans) as reported for Sep- coupon bonds were awarded to N. W. Harris & Co., Chicago,

~~at 103"53. Following are the bids : tember 1901 amount to $14,408,056. V.W.Harris & Co. Chic $8,282 411 Miss. Val. Tr. Co., 8t. Louis... $8,025 00~~

H. J. Fink, Belleville 8,166 60 | Denlson, Prior & Co.. Cleve... 8.08100 For description of bonds see Chronicle 0;t. 5, p 749. Index. Bemidji (Minn.) Independent School District.— Bond An index to all the news matter appearing in this Depart- Sale.— On October 28 the $12,000 5* 10-year bonds were ment for the period from July 6, 1901, to Oct. 5, 1901, in- awarded to Trowbridge & Niver Co., Chicago, at 102-558— clusive, was published in the Chronicle of Oct. 12, 1901, an interest basis of about 4*677*. Following are the bids : pages 806, 807 and 808. Trowbridge & Niver Co.. Chi. $12,307 00 l W. J. Hayes & Sons, Cleve... $12,027 00

R. V. Montague & Co., K. City 12,266 00 I For description of bonds see Chronicle Oct. 12, p. 802. Cincinnati, Ohio.—Cincinnati Southern Lease Ratified.— Brookville, Ohio.—Bonds Voted.—This corporation on At the election November 5 the people ratified the lease of October 21 voted to issue $34,000 water bonds. The details the Cincinnati Southern Railway to the Cincinnati New Or- of this issue have not yet been fixed. leans & Texas Pacific Railway Co. by a vote of 47,354 to Burlington, Vt. Loan Authorized. —The Aldermen have 15,067. The proposition to issue $2,500,000 bonds for better passed a resolution providing for a temporary loan of $30,000 terminal facilities of the road also carried, the vote being to pay expenses. 45,483 to 14,590. See Chronicle Sept. 21, May 4 and April Calhoun County, Tex. Bonds Approved.—The Attorney - 20, 1901. General has approved an issue of $12,000 refunding jail Oxford, Miss.—Bond Litigation.—The following is taken bonds. " :" from the New Orleans Times Democrat Cambridge, Iowa. Bonds Voted—An issue of $4,000 4* OXFORD, Oct. 81.—A writ of injunction was issued by the Chancery Court 20-year water bonds was authorized at an election held Oct. today restraining the Board of Mayor and Aldermen of the town of Oxford and W. D. Porter from selling or issuing the 120,000 of sewerage bonds for 24, 1901. putting in a sewerage system in Oxford. The bill of complaint alleges that Ceylon School District No, 29, Martin County, Minn.— there are many irregularities In the issuance of said sewerage bonds and prays for their cancellation. The writ Is returnable before Chancellor L^ngstreet Bond Sale.— On October 31 the $3,003 5* 15-year school bonds the first Monday in November. The minutes of the Board of Aldermen show were awarded to T. B. Potter & Co., Chicago, at 104-233. that these bonds were sold to W. D. Porter on October 2. The work of putting in the sewerage system has been in progress for two weeks and about one mile Following are the bids : of mains has been laid. The Board of Aldermen will take steps lookiDg to the T. B. Potter & Co., Chicago . . $3,1 27 00 I Bank of Sherburn $3,060 00 dissolving of the injunction. First Nat. Bank, Barnesvllle. . 3,121 00 I Chas. S. Kidder & Co.. Chicago. 3,006 60 R.V.Montague &Co.,Kan.City. 8,115 00 Minn. L'n & Tr. Co., Minn'lis.. 3.000 00

S. A. Kean. Chicago 3,100 00 I Bond Calls and Redemptions. For description of bonds see Chronicle Oct. 26, p. 923. Cincinnati (Ohio) School District. -Bond OJering.—Pro- Redeemed.—This city Coldwater, Mich. Bonds on Octo- posals will be received until 12 m., Dec. 2, by Wm. Grant- ber 1 redeemed $7,0(0 water bonds cut of funds on hand in man, Clerk of the Board of Education, for $50,000 3* school fctlB tr6R8urv bonds. Securities are in denomination of $500 and two County (P. O.Nashville), Ten n.—Bond Call.— Davidson hundred and fifty $100 each, all dated Oct. 1 , 1900. Inter- This county has called for payment $50,000 bonds, series of est will be payable semi-annually at the American Exchange 1895. These bonds will be paid out of the sinking fund. National Bank of New York City. Principal will mature (P. 0. Media), Pa. Bonds Redeemed.— Delaware County Oct. 1, 1940, subject to call after October 1, 1910. A certified This county has redeemed $75,000 bonds. Payment of these check, payable to the Board of Education, for 5* or the gross securities was made from funds in the hands of the County amount of the bonds must accompany proposals. Accrued Treasurer. interest is to be paid by purcnaser. Fargo, N. Dak.—Bonds Redeemed.—O a October 1 this city Clarke County, Ga.—Bonds Defeated.—We are informed funding redeemed out of the sinking fund $34,000 bonds. that through indifference the proposition to issue $33,000 4* Multnomah County, Oregon.— Warrant Call.—Thomas refunding bonds failed to receive the requisite majority of has called for Scott Brooke, County Treasurer, payment the registered voters at the election held November 2. county warrants Class 36 drawn upon the general fund that Cohoes, N. Y.—Bond Sale— On November 6 the $10,685 09 presented and indorsed "Not paid for want of funds" were 3J^* improvement bonds were awarded to Isaac W. Sherrill from Aug. 1, 1900, to Sept. 30, 1900, both dates inclusive. of Poughkeepsie at 100-047. For description of securities see B. Person County, N. C—Bond Call—John Day, County Chronicle Oct. 26, p. 923. Treasurer, has called for payment November 1 bonds known Columbus, Ohio. Bonds Authorized. —The City Council as Pel son County (Township) railroad bonds. has authorized the issuance of $180,000 Z%% bonds to refund part of the $400,000 water bonds which mature Dec. 1, 1901. The new bonds will be issued in denomination of $1,000, Bond Proposals and Negotiations this dated Nov. 1, 1901. Interest will be payable semi-annually at the office of the City Treasurer. Principal will mature week have been as follows : Nov. 1, 1919. Akron (Ohio) School District.— Bond Ojfer ing.—The Conneaut, Ohio.—Bond Sale.— On October 21 the $20,000 Finance Committee of the Board of Education will sell at 4* electric- light-improvement bonds described in the Chron- public auction at 10 a. m., November 15, an issue of $35,000 icle Sept. 28 and the six issues of 5* bonds, aggregating 4* coupon bonds. Securities are in denomination of $1,000, $67 650, described in the Chronicle Oct. 12 were awarded dated Nov. 15, 1901. Interest will be payable semi-annually. to Rudolph Kleybolte & Co., Cincinnati, at 102*52 and Principal will mature $10,000 on November 15 in each of the 106 60, respectively. years 1912, 1913 and 1914, and $5,000 on Nov. 15, 1915. F. Dallas, Texas.—Bids Rejected.—All bids received Nov. 1 W. Shirer is Clerk of the Board of Education. for $87,000 3>£* refunding bonds were rejected. Almonte, Ont.— Debenture Sale.—On October 23 an issue Dallas County, Texas.—Bonds Registered.—The State of $30,000 4* electric-light debentures was awarded to Wil- Comptroller has registered an issue of $1,950 court-house liam Thompson at 100«16. repair bonds. —J ——— — —

~~November 0, 1901. THE CHRONICLE. lu25~~

Defiance, Ohio.—Bond Sale.- On November 4 the $25,500 Indiana, Pa.— Bonds Voted.— At the election November 5 4% refunding bonds were awarded to Seauongocd Mayer, the proposition to issue $25,000 8ewer bonds carried bj a vote Cincinnati, at 101-3--6— an interest basis of about 3'86#. Fol- of 545 to 14)6. The full details of this issue have not yet been lowing are the bide : fixed. BeasoDKOud A Mayer. Clncln. $25,863 13 State Savings Bank, Toledo„IS6.6i>2 BO Johnson Township (I*. O. DfttbaralB), S S. No. 4, District Haves BoiM, ('leva... i*6,8'0 0u Security Trust Co., Tol ,i87 50 W. J. & of Algoma, Out. Dtbinture < firing.— Proposals will be re- First Nat. Hunk, IHIIuiko ... 2t,o68 50 ceived until 7 P. M., November 10, by R. J. Blaney, Cltrk of description of bonds see Chronicle Oct. 26, p. 923. For Mnnicipality, for $1,200 6% debentures, to mature part yearly Delpkos, Bonds Defeated.—The proposition to Issue Ohio.— for 15 years. light-plant bonds voted upon at the election $25,000 electric- Kent County (P. 0. Grand Rapids), MIcb.— Jnuj^rary Nov. 5 failed to carry by 94 votes. Loan —This county has borrowed $25,000 temporarily from Bonds Deft cited.—The question of issuing Oelray, Midi.— the Grand Rapids Savings Bank and the Fourth National sewer bonds met with defeat at the election Nov. 5. $56,200 Bank of Grand Rapids at 4%% interest. One-hall of the Detroit, Bond Sale.—On November 1 the $40,000 Mich.— amount borrowed was obtained from each cf the abov>- insti- the $41,000 30 year park and boulevard Z%% and 3%% tutions. bonds were awarded to the Detroit Trust Co., Detroit, at Le Marf, Iowa.— Bond Sale.—This city sold early la-it 109*855 an interest basis of about Z%. Following are the — month an issue of $4,000 4% sewer bonds to the First National bids: at 100*25. Securities are in denomination (41.000 $40,000 Bank of Le Mars Ho mis. lioitits. of $1,000 and will mature one bond yearly on April 1 from 10y>66 lub IMrolt Trust Co., Detroit 850 1902 to 1905, inclusive. Interest will be payable term-an- WusiAlo.. Detroit 10936 108-877 ios-877 FarsoD, I each A Co , Chicago nually. 107-302 Detroit Kire A Marine lusnranoeCo 108 832 Liberty, N. Y.— Bond Sale.- On November 6 the $10,000 5- M I inn. Detroit 108-012 loh'02 Allen, Sand a Co., New York 107-1*6 Iu7-i25 15-year sewer bonds were awarded to Geo. M. Hahn of New Blodget. Merritt & Co., Boston 10708 107 08 took bonds. Bids were also received from N. W. Harris* Co., Chicago 106688 100577 York, who d%% Adams* Co., Boston 106*31 lot.-.*l II. A. Stein of New York and W. J. Hayes & Sons, Cleve- Domtnlck A Dominick, New York 108271 108-271 W.J. Haves* Sons, Cleveland 106T29 106*08 land. For description of boeds see Chronicle Nov. 2, p. 973. Denlson, 1'iior A Co., Cleveland 106-77 106*77 Lima, Ohio. Bond Offering.— Proposals will be received It. L. Oav * Co., Boston 105 329 105-329 Lamprecht Bros. Co.. Cleveland 10501 106 01 until 12 M., November 25, by C. E. Lynch, City Clerk, for the 104-608 Seasongood A Mayer, Cincinnati 104-608 following bonds : E. D. Shepard A Co.. New York 104-18 104-17 Peninsular Savings Bank, Detroit 102-829 10283 $7,062 33 6% West High Street paving bonds. Dime Savings Bank, Detroit 100-00 100°O0 7,062 33 5% West Wavne Street paving bonds. 2,406 19 6% Buckeye and Cherry Alley paving bonds. For description of bonds see Chronicle Oct. 26, p. 923. Securities are dated Dec. 1, 1901, and will mature one-tenth East Orange, N. J. Bond Sale. — We are advised that the of each issue yearly on January 1 from 1902 to 1911, inclusive. $40,000 4% 30-year sohool bonds mentioned in the Chronicle Interest will be payable annually at the office of the City August 31 have been sold to the Essex County Savings Bank Treasurer. A certified check for 5i of the amount of bonds of East Orange at 104*41. Securities are in denomination of bid for, payable to the City Clerk, must accompany propo- $1,000, dated Jaly 1, 1901. Interest will be payable semi-an- sals. Accrued interest is to be paid by purchaser. Bids must nunlly. be made on blank forms furnished by the city. These bonds Edgewood, Allegheny County, Pa.—Bond Sale.—On Nov. were offered for sale on October 21 as 3>£ ar.d 4 per cents, but 2 the $10,000 4% sewer and t-treet-improvement bonds were the offering failed to attract any bids. awardtd to Tbe Lamprecht Broe. Co., Cleveland, at 100*25. Little Falls Township School District, Passaic County, A bid of 101 *3l was also received from Diok Bros. & Co. , Phil- N. J—Bond Sale.— On November 7 the $18,000 4% 5 10 year adelphia, the same, however, being conditioned upon the (serial) school bonds were awarded to John D. Everitt & Co., bonds being free from State tax. For description of bonds New York City, at 101*43—an interest basis of about 3*779

Lawrence Barnum A Co.,N. Y..100*e6 I have authorized a loan of $15,000 for the purpose of paying for highway improvements. Los Angeles, Cal. Bond Offering.— Proposals for the $2,- 000,000 '6%% water bonds voted at tbe election held August Foi.d du Lac, Wis.—Bond Offering.— Proposals will be re- 28 will be received until 11 a.m., November 18, by C. H. ceived until 5 p. m., November 18, by F. A. Bartlett, City Hance, City Clerk. Securities are in denomination of Clerk, for $40,000 Z%% 20-vear sewer bonds. Securities are in $1,000, dated Oct. l, 1901. Interest be payable semiannually denomination of $510. Interest will be payable semi-annu- will at the tffice of the City Treasurer. Principal will mature ally at the office of the City Treasurer. A certified check for $1,000 must accompany proposals. $50,000 yearly on October 1 from 1902 to 1941, inclusive. A certified check for lgis required with bids. These bonds were Fremont, Ohio.— Bond Offering.—Proposals will be re- offered for sale on October 21, but no bids were received for ceived until 12m., November 26, by C. F. Bell, City Clerk, the same at that time. for the following bonds : Lunenburg County, Ya.—Svbsidy Voted,—A special elec- 9,650 if refunding bonds, eighteen for $560 each and one for $560. Principal will mature $500 each six months Irom April 1, 1909, to Oct. 1, 1917, tion was held in this county on October 26 to vote on tbe inclusive, and $560 on April 1, iflB. question of subscribing $100,000 in aid of the Mount Rogers 6,600 4% refunding water limns, in denomination of $600. Principal will mature one bond each six monthB from April 1, 1909, to Aiiril 1, 1915, in- & Eastern Railroad. A majority of about 800 was cast in clusive. favor of the proposition. Securities are issued under the authority of Section 2701, Maplewood (Mo.) School District. Bond Election.—An Revised Statutes of Ohio. They are dated Oct. 1, 1901. In- election will be held to-day (November 9) to vote on the terest will be payable semi-annually. All bids must be un question of issuing $^,0t0 school-house bonds. conditional and either cash or a certified check for $100, Martin, Tenn.— Bond Election. —An election will be held payable to the City Clerk, must accompany proposals for November 30 to vote on the question of issuing *7,500 school- each of the above issues. Accrued interest will be required house bonds. of the successful bidders. Martinsville, Va.—Bid R< letted.—The only bid received tfalena, Kan.—Bond Offering.— We are advised by J. P. November 1 for the $5,510 6£ 34- year improvement bonds was Pinson, City Treasurer, tbat he will receive bids at any time one of par and a premium of $27. Tbis bid was rejected. for $10,000 4% 10-20-year (optional) public-improvement Medford, Mass. Temporary Loan Authorized.—The Coun- bonds. Securities are in denomination of $500, and the in- cil has authorized a loan of' $5),000 in anticipation of the terest will be payable semi-annually. collection of taxes. Goldsboro, N. C— Bonds Voted.—At the recent 'election MiddletowD, Conn.—Bond Offering.—Attention is called the propositions to ifsuo $25,000 electric light, $50,000 water, to the official the city of Middletown else- $15,000 city- call and $20,100 street-improvement bonds all advertisement of carried l 20- by good majorities, according to local papers. where in this Department offering for sale $53,000 Z /2 l Vonzales County, Texas.- Bond Sale.— The $30,000 4% year refunding sewer bonds. Proposals for these securities 5-10 year (optional) bonds mentioned in the Chronicle Oct. will be received until 7 P. m., Nov. 19, 1901, by James P. 19 have been sold to the State School Fund at par. Greenville, Pa.— Bonds Voted.—The question of issuing Stow, City Treasurer. For full description of securities see $20,000 city-hall bonds carried at the recent election by a vote Chronicle Oct. 26, p. 924. of 502 to 205. Minneapolis, Minn.—Bonds Proposed.—The City Council Gueydan (La.) Drainage District.—Bonds Voted. -This has under consideration a resolution providing for the issu- district on October 30 voted to issue $50,000 5% 38 year bonds. ance of §240,000 33<£ bonds to refund part of six i.-suesof Hendricks, Lincoln County, Minn.— Bond Offering— Pro- bonds, aggregating $366,000, which are subject to call April posals will be received until 8 p. m., November 23, by R. M. 1, 1902, and which will be retired at that time. The new Burlingame, Village Recorder, for $9,CO0 5% 20 year water bonds will be issued in denomination of $1,C00, dated April 1, bonds. Securities w. re voted at an election hHd Oct. 28, 1902. Interest will be t ;iyable semi-annually in New York 1901. They are in denomination of $1,000, dated Dec. 2, 1901. City. Principal will mature April 1, 1912. Interest will be payable semi annually. Blank bonds must Natch, z, Miss.—No Bonds to be 1st- it- d.— Some of the pa- be furnished by tbe successful bidder. The village Iihs no pers recently stated that this city had decided to issue about indebtedness at present and the assessed valuation is $90,812. $50,000 bonds for an engine house. This, we are advi- A certified check for $100 must accompany proposals. by the City Clerk, is entiiely incorrect, as the city does tot Hillburn, N. Y.—Bond Sate.- On November 7 $2,0C0 [5% propose to issue any bonds. health-expense bonds were awarded to William W. Snow of New Baden (111.) School District.—Bond Sale.— On Oct. Hillburn at par. Securities are in denomination of $1,000, 10 the $2,700 5£ school- building bonds were awarded to the dated Nov. 15, 1901. Principal will mature one bond on Aug. Bank of New Baden at 1C0*85. For description of bor.ds see 1, 1902, and the other on Aug. 1, 1903. r Chronicle Oct. >. p. 750. 102<) TBE CHRONICLE [Vol. LXXIII.

New H run nfc Is, Texas.—Bonds Registered.—The State Oroflno School District No. 21, Shoshone County, Idaho. Comptroller has registered an issue of $5,800 Btreet-improve- —Bond Offering.— Proposals will be received until Novem- ment bonds. ber 12 by the Trustees of the school district for $1,850 6* Newbnrjrh, N. Y.—Bonds Proposed.— A. meeting of the 20-year coupon bonds. Interest on bonds will be payable Common Council, we are advised, will be held November 11 annually. J. W. Merrill is Clerk of the board. for tne purpose of taking action on the proposition to issue Peoria Township, 111.— Bond Sale.—On November 4 the |47,000 street- improvement bonds. $66,000 3}4% 10-20-year (optional) refunding railroad-aid New York City.— Bond Sale.—The $85,000 'M 39 year park bonds were awarded to MacD^nald, McCoy & Co., Chicago, bonds advertised for sale on November 4 were taken by the at 100'132 and blank bonds. Following are the bids : sinking fund at par. For full description of bonds see MacDonald. McCoy & Co.. Chic..*Ofl.0H7 Coffin (less l&OO) Par N. W. Harris Co.. Chicago Chronicle Oct. 26, p. 924. 4 06.088 xtButmo) Par Niagara Falls, N. Y.—Bond Sale.—On October 18 the A bid of 101*16 was made by Adams & Co. of Boston, under $115,000 ii 20 year sewer bonds were awarded to Isaac W. the impression that the bonds were city obligations. This Sherrill, Poughkeepsie, at 111 , 09—an interest basis of about bid was addressed to the City Clerk. Securities are dated 3'242November 14 to vote on the question of issuing cago, at 106 044. $4S0,000 bonds Rockvllle Center, N. Y.—Bond Election.—An election will Old Town, Me.—Bond Sale.— On October 21 an issue of be held November 12 to vote on the question of issuing $10,- $15,000 3^# 20-year refunding bonds was awarded to Tyler, 000 waterworks extension bonds. Fogg & Co. of Bangor at 103 '33—an interest basis of about Roswell, N. Mex.—Bond Sale.— On October 31 the $35,000 8-272£. 6£ 20-30-year (optional) gold sewer bonds were awarded to Oneida, N. Y.—Bonds Defeated.—At the election Novem- MacDonald, McCoy & Co., Chicago, at 103 857 and blank ber 5 the question of issuing $50,000 city-hall bonds was bonds. For description of bonds see Chronicle Oct. 5, 1901, voted down. p. 750. Orange County (P. 0. Orange), Texas.—Bond Sale.—We Russell County (Kan.) School District No. o.—Bond Sale. are advised that this county has sold the $1,995 4 per cent —The $13,800 refunding bonds mentioned in the Chronicle 5-40 year (optional) bridge-repair bonds mentioned in the October 19 have been sold to the Stale School Fund at par. Chronicle July 27, 1901, to W. D. Bettis of Orange at St. Joseph, Mich.—Bond Sale.—This city has sold $10,000 97 '74. H viaduct bonds. NEW LOANS NEW LOANS. NEW LOANS. •^53,000 BIRMINGHAM, ALA., ^4lH,GOO MIDDLET0WN, CONN., SPECIAL ASSESSMENT CITY OF ATLANTA, aA., BONDS. S?4% Gold Refunding Bonds. REFUNDING SEWER BONDS. IMPROVEMENT The Mayor and Aldermen of Birmingham will Sealed proposals will be received at the office of the Mayor of Atlanta. Ga., until 12 o clock M., Tues- To Refund 6£ Sewer Bonds due December 1, 1901. receive sealed proposals until Tuesday, November Sealed proposals endorsed " Proposals tor Bonds" 19th, 1901. at noon, for all the Special Assestment day, December 3d, 1901, for .418,000 City of Atlanta, with certified check on a National Bank for $2,500 Improvement Bonds that may be issued under Ga., 30-year 3H% Gold Coupon Bonds of $1,000 each, enclosed, will be received by James P. Stow. City Ordinances Numbers 80 to 93, 98, 97 and 104 to 107, due December 31st, 1931. Interest payable July and Treasurer, until 7 o'clock Tuesday evening Novem- inclusive, said bonds to be Issued as provided by January in New York and Atlanta. Bids may be for ber 19, 1901 (at which time they will be opened in law (Acts of Alabama 1900-19^1, page 173») after the whole or part of said bonds. Bidders to enclose public), for the purchase of $53,000 of Refunding thf> completion of the work under the respective with bid certified checks for five per cent of par Sewer Bonds. The said bonds will be 3H per cent ordinances, raid bonds will bear six per cent value of amount bid for : check to be made payable to the order of Thos. J. Heeples, City Treasurer. straight twenty years, dated December 1, 1901. A Interest, payable annually; will be in denominations City Sinking Fund has been created and established not to exceed $500 each and will run for a period of Bidders will be required to receive and pay for for the payment of city bonds. teu years, but may be redeemed at the option of the bonds allotted them on December 31st, 1901. The is or ail bids. Assessed valuation for city taxes of 1900 is City at any interest period; but if so redeemed the right reset ved to reject any shall one-half $6,500,000; actual valuation $8,50o,OG0 ; net debt City pay as a bonus a sum equal to LIVINGSTON MIMS, Mayor. (deducting water works and sinking funds), $259,- the annual interest for one year. Principal and WM. C. RAWSON, 86«13. Population of City 11,000; town 17,000. interest payable in gold at the Hanover National Chairman Finance Committee. There has default any obligation of city Bank New Yt>rk. Bonds also secured by lien on been no of information address J. H. Goldsmith, town. property improved. For further or City Comptroller. The right is reserved to reject any and all bids or No bids received at less than par and must be proposals. accompanied by a certiued check for $300, payable Proposals must be made upon the prescribed form to the Mayor and Aldermen of Birmingham, to be on blanks attached to a circular of particulars, forfeited if the birder fails to comply with the MUNICIPAL which may oe obtained upon application to the terms of his bid. The total bonds to be issued City Treasurer, and all bids or proposals must be under said ordinmices, probably $50,000 to $76,000. City right reject any and all and n ti il rested to The reserves the to RAILROAD JAMES P. STOW, City Treasurer, bids. Add ess, Middletown, Conn. R. H. KERR, Chairman Finance Committee. CORPORATION Birmingham, Ala. New Orleans, La., 4e. Town of Covert. N. Y., 3Hs. BONDS Allenburat, N. J., 1V n. !$30,000 ; 6*. Perth Ainboy, N. J., In. TO NET FROM 4*A% TO Southern Pines, >'.('., tig. COATESVILLE (PA.) CORRESPONDENCE SOLICITED. Tennessee Coal, Iron & RR. Co. General lUtge. Gold 5s, 1951. SCHOOL DISTRICT C. H. WHITE & CO., X EDW. C. JONES & CO., Z A% BONDS. BANKERS. NEW YORK, - 1 NASSAU STREET Sealed proposals will be received by the under-

signed until 1 2 o'clock November 16th, 1901, PHILADELPHIA, - 112 SO. FOURTH STREET noon 71 Broadway, • New York. for the purchase of Sfb0,o00 Coatesville School District Bonds of the denomination of $1,000 each, AGENTS FOR THE to be dated January 1st, 1902, and payable October 1st, 1931, with the option of payment annually of $1,000 on and alter October 1st. 1902, out of the ANGLO-AMERICAN BANK., Ltd., Perry, Coffin & Burr, annual tax levied fortha: The bonds to purpose. Charing Croat, Jjondon. bear interest at the rate of 3Hs per cent per annum, payable semi annually. Bids to be made on both coupon and registered BONDS. INVESTMENT BONDS. bonds; the option being reserved by the School MUNICIPAL Board to issue either kind. Bids io be accompanied by a certified check for E. C. STANWOOD & CO.. $600. The right to rejectany andall bids is reserved. 6o State Street, \VM. H. GIBBONS. BANKERS, President of Coatesville School Board. Coatesville. Pa. 121 Devonshire Street BOSTON. BOSTON. Blodget, Merritt & Co., INVESTMENT BONDS. WASTED. BANKERS, Nebraska County bonds. What have 16 Congress Street, Boston. 8END FOR LIST. you to offer 2 Address "Investor," 13 Wall Street, New York. DENISON, PRIOR & CO. No. 32 W. 27th Street, New York City. STATE, CITY & RAILROAD BONDS. CLEVELAND. BOSTON. — J - :

~~NOFEMBEK 9, 1901. THE CHRONIOLF, lo27~~

St. Petersburg:, Hillsborough County, Fla.— Bomi Offer- West Covington, Ky.— Bond Sale.— On November 1 an ing. —We are advised that proposals will be received until 18 issue of $8,500 V-/} % street-1 in provement bonds was awarded M., December 15 (Sunday), for $11,000 school, $5,000 sewer to Seaaongood & Mayer, Cincinnati, at 101 -17t> and accrued and $3,000 water G% 30-year bonds. Securities are dated interest. Securities are in denomination of $100, dated Oot, Jan. 1. 1902, and the interest will be payable semi-annually. 1, 1901. Interest will be payable annually at the office of the Sharon, Pa. Bonds Voted.— At the recent election the City Treasurer. I'rinoipal will mature Oot. 1, 1906. proposition to issue $40,000 bonds for the completion of the \\ e«t Des Moines (Iowa) Independent School District.— sewer system carried by a large majority. Bond Sale.— On October 28 an issue of $35,000 \( 5-10-year Sheraden (P. 0. Sheridanville, Pa.) School District. (optional) refunding bonds was awarded to the Marquarlt Bond Offering.—Proposals will be received until 9 r. m., Savings Bank of Des Moines at ptr. November 12 (time extended from November 9), for |25,000 West Rutland, Si.—Bond Sate.— On November 1 the - 4£ 30-year school bonds. Securities were authorized at an 000 %%% refunding bonds were awarded to M. F. Skinner & election held Aug. 5, 1901. They are in denomination of Co., Boston, at 102'35— an interest basis of about 3*277^. Fol- $1,000, dated Nov. 1, 1901, and the interest will be payable lowing are the bids

of !' femi-aunually at the Diamond National Bank Pittsburg. M. Skinner* Co.. Huston ...102-85 K tt. Rolllni I .100-818 Kludge). Merntl Jt CO., liosloii. lorib lose, Bonds are free from tax. certified check for $250 Parker 41 , ioomi* A must 101" N. W. Harris* Co.. New York. . 186 Ruthin. 1 >a\ Insi ll'k, Itullaiid..l accompany proposals. Proctor Savings ll'k. Proetor... 101*186 Parkinson A Burr. Bot 100*63 iiu«iun...iuroi Sioux Falls, S. Dak.—Bonds Voted—At the election Nov. i. C. Stanwood & Co., Field & 1'ield, Kutlttud HXroo 5 the question of issuing $210,000 5* 20- year water bonds car- For description of bonds see Chronicle Oct. 19, p. 868. ried by a vote of 1,185 to 315. The date for the sale of these Wilkinsburg, Pa.—Bids Rej cted.—All bids received Oct. bonds has not yet been fixed. 31 for the $60,000 "6%t street-improvement bonds were re- South Bethlehem, Pa.—Bonds Voted.—At the election last jected. Bonds were described in the Chronicle Oct. 26, Tuesday the proposition to issue $100,000 sewer bonds was p. 926 favorably voted upon. Willlmantic, Conn.—Loan Authorized. —The Mayor has Springfield, Ohio.—Bond Offering.—Proposals will be re- been authorized to borrow $4,000. ceived until 7:30 p. m., December 3, by R. N. Lantz, City Wills Point, Texas.—Bond Sale.—On November 5 the Clerk, for $1,241 25 (or less if any assessments are paid in $5,000 5% school-house and the $7,000 5% refunding bonds were cash) »i% 15 year (serial) Eastern Avenue improvement bonds. awarded to The Lamprecht Bros. Co., Cleveland, at 101-25. Securities are dated Dec. 1, 1901, and the interest will be For description of bonds see Chronicle last week, p. 976. payable semi annually at the office of the City Treasurer or at the Importers' & Traders' National Bank, New York City. STATE AND CITY DEBT CHANGES. Superior (Wis.) School District.— Temporary Loan.—The Board of Education has borrowed $2,000 temporarily from Bethel, Conn.—William H. Judeon, Treasurer. This town the Bank of Commerce of West Superior. is in Fairfield County. Tempe, Ariz. Bond Offering.— Proposals will be received LOANS— When Due. Floating debt $20,793 until 5 p. m., November 25, for the $30,000 5% 20 year water Town Bonds—"' Total debt Oot. 1, 1901.. 64.79S M&N, $14,000 1902-1908 Total bonds mentioned in the Chronicle Oct. 26. 4s, valuation 1901.... 1,239,700 ($2,000 yearly on May 1.) Assessment about % actual valua. Wellsville, Ohio.—Bonds Defeated.— On November 5 the School Bonds— Tax rate (per $1,000) 1901) .$15-00 proposition to issue $60,000 waterworks bonds was submit- 48, A&O. $30,000 Oct. 1, 1919 Population in 1890 was 3,401 ted to a voie of the people, but was defeated, as the question Bonded debt Oot. 1, 1901. .$44,000 Population in 1900 was 3,327 did not receive a two-thirds majority. INTEREST payable at the Importers' & Traders' Nat. Bank, IT. T. INVESTMENTS. INVESTMENTS. INVESTMENTS. $136,000 Qeo. D. Cook Company, N. W. HARRIS & CO.. Mclean couniy, Illinois, BANK BBS, 4 Court House Rebuilding Bonds. INVESTMENT SECURITIES. 31 NABSAU ST., NEW YORK. Dated November 1, 1901. Denominations $1,000 each. 26,000 due November 1, l»o2. CHICAGO. BOSTON. 26.000 due November 1, 1903. 238-240 La Salle Street, 28.0U0 due November 1, 1904. Deal exclusively In municipal, 28,000 due November 1, 1905. 30,000 due November 1, 1906. CHICAGO. Railroad and other bonds adapted Price yielding bj^ per cent. for trust funds and savings. Assessed valuation $19,309,778 N. T. Office. 1442 Broad-Exchange Bldg. Actual valuation 96,54H,890 ISSUE TBAVBLEBS' LETTERS OF CREDIT Indebtedness, including this issue 328,000 A VAILABLE INALL PARTS OF THE WOBLD Population, Census 1900, 6?,8»8. own and offer, subject to prior sale. City We of Bloomlugtnn is the county seat. Quotations furnished for purchase, sale or exchange. The entire bonoed debt of this county was created $20,000 to rebuild the ('ourt House destroyed by Are about two years since. McLean County Is not only the CITY OF DUBUQUE, IOWA, largest In the state, WE OFFER. TO YIELD ABOUT 5*. 1,16(5 square miles, but Is one 4s, of the most fertile and wealthy. REFUNDING Legality of issue approved by Storey, Thorndike & Dated July 1, 1901. Denomination $1,000. Palmer, Boston, Mass. Principal and semi-annual interest payable at First 8430,000 National Bank in the City of N. Y. Due Jan. 1, J. F. WILD & CO., Banker*, 1917. without option ol previous payment. (Total Issue, 81, OOO, 000) Indianapolis. Legal investment for savings banks in all the New England States. Price upon application. Butte Electric Power Co. TROWBRIDGE St NITER CO., & First National Bank Building, CHICAGO. Butte, Mont., S per cent 1st Mortgage Sinking Fund 8KND FOR LIST MASON, LEWIS & CO. Gold Bonds. November Investments. BANKERS, Denomination, $1,000. Maturing 1 to 30 years. MUNICIPAL, RAILROAD AND CORPORATION CHICAGO. BOSTON, Rudolph Kleybolte & Co. BONDS. Uenttdnock Building, OO Devonshire St. I NASSAU ST.. NEW YORK CITY. FARSON LEACH & CO., MUNICIPAL CHICAGO. RAILROAD BONDS. NEW YORK. CORPORATION T. B. POTTER, Choice Issues. MUNICIPAL and orikinc Street Railway and Gas Companies. CORPORATION D<->IMUa. LIST ON APPLICATION. MUNICIPAL 172 Washington Street, AND CHICAGO, • - • ILLS. MacDonald, McCoy & Co., Public Service Corporation LIST ON APPLICATION. MUNICIPAL AND CORPORATION MUNICIPAL and BONDS. CORPORATION BONDS BONDS. E. H. ROLLINS &SONS Netting from Z% to G% always on hand. BOSTON. 171 La Salle Street, Chicago. DUKE M. FARSON &CO. Denver. San Francisco. 115 Dearborn St., CHICAGO. Seasongood & Mayer, F. R. FULTON & CO., Send for our Investment Circulars. 8. W, Corner Third and Walnut Streets. GOLD 5s. CINCINNATI, OHIO. ARIZONA Municipal Bonds, Judge J. F. Dillon's legal opinion:—"Upon »*- MUNICIPAL mission to Statehood, Arizona bonds become a legal BONDS. investment for New York savings banks." High-Grade City, County, Town and Bohool Bondi 171 la salle street, List of bonds upon application. Issued In leading prosperous States of the Dnlon, •specially adapted for safe and permanent invest- HARRY B. POWELL X. CO.. ment for Estates and Trust Funds. CHICAGO. Woodstock. Vermont. :

~~1028 THE CHRONICLE. [Vol. LXXIII.~~

HftttanctaL financial. WixmncivCL WE OFFER, TRANSMISSION ROPE. J. C. WHITE & CO., SUBJECT TO PRIOR 8ALE CORDAGE Engineers, Contractors, CHOICE 29 BROADWAY, N. Y. OKLAHOMA s in Investigations and Reports FIRST on MORTGAGES ''tHi SPECIALTIES. Electric Railway, Gas, Electric A L Light, and Power Transmission on Improved farms, worth from 2 1* to 5 times the amount loaned thereon, Properties for Financial Insti- THE AMERICAN tutions and Investors. Nettin? the investor MANUFACTURING Electric Railways, Electric Light and COMPANY. Electric Power Plants Financed 6 per cent interest. WA.Z.Z. HTRKKT. Designed and Built. «S NEW YORK. LONDON: Kaoh of the securities has been personally ex J. G. WHITE A. CO., Limited. amlned by one of oar salaried examiners. 8ECURE BANK VAULTS •i'i a College Hill, Cannon Street. Write for our latest offering. HASKINS & SELLS,

WINNE & WINNE, Certified Public Accountants, Wlnne Building, Wichita, Kansas. QENUINE 30 BROAD ST., NEW YORK. Mention this paver. WELDED CHROME STEEL AND IROU •^04 Dearborn St.. 30 Coleman St., ioand and Flat Bars and 5-ply Plates and Angle' FOR 8AFK8, VAULT8. &c. CHICAGO, ILL. LONDON, B, C, Cannot be Sawed, Cut, or drilled, and positively Burglar Proof. CHKOME STEEL WORKS. WM. FRANKLIN HALL, ASSETS Kent Ave. Keap and Hooper 8t»., rr. Sii« Mari'f'nrsln the S RKOIIK I v » H.\ , Accountant, REALIZATION CO., EX an B U n "OSTON, MASS . M s&«e S;^.f READY JANUARY 10, 1902. Books audited. Examinations and investiga- Ashland Block, Chicago, tions conducted with the utmost care and efficiency. 518 Wnlnut St., Philadelphia. HAND-BOOK PARK, Will bay the assets of estates JAMES OF Public Accountant and Auditor, In process of liquidation, any- 52 Broadway, - New York. where in the United States. Railroad Securities. D. A. KEISTER & CO., Public Accountants and Auditors, WE DEAL IN JANUARY EDITION. 60 wall street, new york. Lands and Land Securities OF ALL STATES. Patterson, Teele Dennis, TEXAS LANDS WANTED. (Issued Semi-Annually by the Publishers of the & Correspondence Solicited. Commercial & Financial Chronicle.) CERTIFIED PUBLIC ACCOUNTANTS. AMALGAMATED LAND COMPANY. 31 Nastt»u Street. New York. 30 Broad Street, - • New York.

For Length and Quality C0NTBNT8 i8so. ieoi. Railroad Securities.—Statement showing United States Life of Service outstanding Stocks and Bonds and also the The Income for a series of years past, as well as the amount applicable to Interest charges, of Insurance Co. THE Railroads whose securities are commonly sold in the markets of New York, Boston, IH THE CITY OF NEW YORK. Philadelphia and Baltimore. Remington Geo. H. Btjrford, President. Highest and Lowest Prices— Typewriter NEW YORK-Railroaa and Miscellaneous FINANCE COMMITTEE: Bonds and Stocks. Monthly for 1901. Williams, DEFIES COMPETITION. Geo. G. prts. Ohem. Nat. Bank PHILADELPHIA — Railroad and Miscel- John J. Tucker, - . Builder laneous Bonds and Stocks. Monthly for E. H. PERKINS Jr., Pr.Imp. A Trad. Nat Bk. year ending December 31, 1901. Wyckoff, Seamans & Benedict, James R. Plum, .... Leather BOSTON—Railroad and Miscellaneous Bonds 327 Broadway New York. and Stocks. Monthly for year ending Active and successful Agents who desire December 31, 1901. to make DIRECT CONTRACTS with this well-established and progressive Company, Yearly Range of Prices with Dates— thereby securing for themselves not only an THE GRAND PRIX Yearly Range of Active Stocks— Date of immediate return for their work, but also highest and lowest prices made in the years an increasing annual income commensur- 189S, 1899, 1900 and 1901, in New York, ate with their success, are invited to com- Boston and Philadelphia. municate with RICHARD JE. COCHRAN, Third Vice-President, at tlie Company's Office, 977 Broadway, New York City. Dividends.—Dividends on Railroad Stocks sold at the Exchanges in New York, Bos- Assets, over SS.000,000. ton, Philadelphia and Baltimore, paid dur- Insurance in Force, over $40,000,000. ing each of the years 1895 to 1901, inclusive. Dividends on Leading Industrial Stooks during each of the years 1895 to 1901, inclusive. CHRONICLE VOLUMES WAS AWARDED AT THE PARIS EXPOSITION TO WHITING'S STANDARD PAPERS. TERMS. FOR SALE, They are the only American papers which have Price of Single Copies ever received this—the highest honor that can be $1 00 NEW OR SECOND HAND, conferred. It means they are the most perfect made. Insist on having them for your fine corres- To Subscribers of tbe Chronicle, 76 pondence and your office stationery. Are vou using FROM 1866 TO DATE. Whiting's. Ledger Papers In you Blank-Book 1 To Bankers and Brokers In quantities, with their Samples and booklet free. cards lettered tn gilt on tne cover, at special rates. WHITING PAPER COMPANY, WILLIAM B. DAM CO., hol yoke. mas*., WILLIAM B. DANA COMPANY, And 150 Duane Street, New York. Pine Street, Cor. Pearl Street. New York. 76!* Pine St., NewYork.