December 4, 1915 : Bank and Quotation Section

BANK AND QUOTATION SECTION OF THE & FINANCIAL CHRONICLE. C,414OMMERCIAL Copyrighted in 1015, aceording to Act of Congress. by WILLIAM B. DANA COMFANTY,in offiee of Li hriirian of Congress, ‘vatitingten. D.C. VOL. 101. NEW YORK, DECEMBER 4 1915. NO. 2632. PA.K. AND QUOTATION SECTION REVIEW OF NOVEMBER. The most important incidents during November The Bank and Quotation Section. Issued monthly. is furnished without extra charge to every annual subscriber of the Commercial and were (1) the further extension of business activity Financial Chronicle. The Railway and Industrial Section, issued three times a year on the and the development of a freight blockade on the last Saturday of February. June and October, is likewise furnished without extra charge to every annual subscriber of the Chronicle. great trunk lines to the seaboard, caused, not alone The Railway Earnings Section. issued monthly, containing the sworn returns of earnings and expenses filed each month with the Inter-State by the magnitude of the freight movement, but by Commerce Commission, is also furnished without extra charge to every annual Chronicle subscriber. the fact that the shipments were in great part for The Electric Railway Section. issued three times a year, in January, May and September, s likewise furnished without extra charge to every export in connection with the war in Europe, and, Chronicle subscriber. owing to the scarcity of steamships, ocean The State and City Section. issued semi-annually on the last Saturday freight of May and November. is also furnished without extra charge to every subscriber of the Chronicle. room was not available in sufficient quantity to The Bankers' Convention Section. issued yearly, giving the detailed take care of the shipments, with the effect of causing proceedings of the annual convention of the American Bankers' Associa- tion. is also furnished without extra charge to Chronicle subscribers. great congestion at all the railroad terminals; (2) the Terms for the Chronicle, including the six Supplements above named. are Ten Dollars per annum within the United States, Thirteen Dollars quieting down of speculation on the Stock Exchange (which Includes postage) in Europe. and $11.50 in Canada. File covers for the Chronicle are sold at 60 cents each; (which includes and a discontinuance for the time being of manipu- postage). File covers for Supplements can be had at same price. CIIICAGO OFFICE-39 South La Salle St. lative practices for sending prices skyward; and LONDON OFFICE—Edwards & Smith. 1 Drapers' Gardens, E. 0. (3) the vigorous7prosecution by .Germany, Bulgaria WILLIAM R. DANA COMPANY. Publishers, and Austria of their Balkan campaign, and the Front. Pine and Depeyster Streets, New York. inability of the Entente countries to interpose any effective obstacles to the onward movement, while INDEX at the same time doubts and fears haunted the Entente TO ADVERTISEMENTS OF BANKS AND TRUST COMPANIES peoples and Governments with reference to possible antagonistic action by Greece or at Atlanta. Oa.— Page Mobile, Ala.— Page. Atlanta National Bank 3 People's Bank 9 least action imperiling the security of the forces Baltimore. Md.— Nashville. Tenn.— which were being sent to the Balkans to aid the National Bank of Baltimore..__ American National Bank 8 Safe Deposit & Trust Co 4 Fourth and First Nat. Bank 10 Serbians. Birmingham. Ala.— Newark, N. J.— The British and the French continued to land First National Bank Union National Bank 3 troops at Salonika from whence they were sent into Boston. Mass.— New Orleans. La.— National Union Bank 2 Whitney-Central Nat. Bank,... the southern part of Serbia, it being estimated that Chicago, ill.— NewYork, N. V.— this expeditionary force aggregated 150,000 to Savings 13k. & Tr. Co- 6 Chicago Chemical National Bank Continental & Com'l Nat. Bk_ 9 Coal & Iron 200,000 effective men by the end of the month; Corn Exchange Nat. Bank__ 8 National Bank Bank of Chicago__ 7 Farmers' Loan &Trust Co 14 First Nat. Hanover National Bank and though this force was not sufficient to overcome Live Stock Exchange Nat. Bk. 6 National Merchants Loan & Trust Co__ 12 Seaboard Bank the invaders it is significant that only in southern National Bank of the Republic- 11 Norfolk. Va.— Serbia did the Bulgarians or the Germans and Cincinnati, Ohio— Norfolk National Bank 3 Fifth-Third National Bank...... 10 Austrians fail to overwhelm the Serbian army, Paterson. N. J.— Cleveland. Ohio— National Bank which put up a stout defense and was able to inflict First National Bank 10 First Union National Bank 10 severe losses upon the invaders. The latter took Philadelphia. Pa.— Denver, Colo.— Corn Exchange Nat. Bank__ 5 one strong point after another despite obstinate First National Bank 7 First National Bank 4 Fourth Street National Bank_ 9 resistance, capturing large numbers of Serbian Detroit. Mich.— Franklin National Bank First &. Old National Bank.... 3 Girard National Bank 4 prisoners and also numerous guns and extensive People's State Bank (I Girard Trust Company 6 Market Street National Bank.. 4 of ammunition. On Nov. 28 the German Fort Worth. Texas— Philadelphia National Bank— 5 supplies Fort Worth National Bank-- 7 Tradesmen's National Bank.. 4 General' Staff gave out an official statement an- Grand Rapids, Mich.— Pittsburgh, Pa.— what it to believe the close of Old National Bank 6 Columbia National Bank 5 nouncing professed the Serbian campaign, as far as the Serbians were Hartford, Conn.— Providence. R. Hartford-Aetna National Bank 2 I.— Merchants' National Bank-- 2 concerned. The statement said : Indianapolis. Ind.— "With the flight of the scanty remains of the Merchants' National Bank— 10 St. Louis, Mo.— Mechanies'-Arnerican Nat. Bk. Serbian army into the Albanian mountains our great Jersey City, N. J.— National Bank of Commerce. 7 First National Bank 2 operations against the same are brought to a close, Los Angeles. Cal.— St. Paul, Minn.— our object of effecting communication with Bulgaria Citizens National Bank 12 Capital National Bank 11 the Turkish Empire having been accomplished." First National Bank 12 and San Francisco, Cal.- statement further said : Milwaukee, Wis.— The First National 5 Anglo & London-Paris N at.Bk 5 Bank The First National Bank__ 12 "The movements of the army of Field- Marshal Minneapolis. Minn.— von Mackensen; the operations of the Austro- First & Security National Bank 11 Worcester, Mass.— Northwenern National Baok__ 11 Merchants National Bank__ 2 Hungarian Army under General Koevess, which Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 16 MONTHLY RE VIEW [Vol.. 101. was reinforced by German troops, against the to 300,000 men for the invasion of Bulgaria and Drina and the Save; the operations of the army one set of reports had it that with such an army under General von Gallwitz against the Danube to assure protection against annihilation by the near Semendria and Rambasias were commenced Germans the Rumanians would at once enter the on Oct. 6 and the advance of the army under General field against the Central Powers. Another set of Boyadjieff (Bulgarian) against the Negotin-Pirot reports had it that Russia was determined to push line began Oct. 14. The same day a second Bul- this army through Rumania into Bulgaria even if garian army under General Theodoroff also commenced Rumania objected, but it was intimated that operations in the direction of Skoplje and Veles. Rumania might assume an attitude of "benevolent "Since then our troops have accomplished quickly neutrality" and allow troops to pass through her and smoothly the formidable undertaking of crossing territory just as Greece had shown "benevolent the Danube in the face of the enemy, impeded, neutrality" in allowing French and English troops moreover, by the untimely Kossovo assault, and to land at Salonika and pass into Serbia in the en- have captured the enemy frontier fortresses at deavor to come to the relief of the Serbians. The Belgrade, at the taking of which the Austro-Hun- accuracy of these reports, however, seemed open to garian Eighth Army Corps with the Brandenburg question when telegrams came to London from Reserves especially distinguished themselves. Za- Bucharest, saying that Rumania had notified iecar, Kajazevac and Pirot fell into the hands of the Russia of her earnest desire to remain neutral. Bulgarians. "Consequently Russian ships will not be permitted to "In addition to this our troops have completely enter the Danube,which, it is emphasized, has been broken the tough resistance of an enemy who, in mined." One press version went even further and addition to being supported by the nature of the said that the Rumanian Government had not country, is inured to war, and fought bravely. only forbidden use of the Danube to the Russian Neither impenetrable roads, impassable mountains Government, but in an energetic note had made thickly snow-clad, nor the absence of reinforcements the demand that Russia respect her neutrality, and shelter were able to check our advance. adding that if necessary Rumania would defend "More than 100,000,almost half the entire Serbian her neutrality. The latter, however, seems to have fighting forces, have been taken prisoners. Their adopted a similar attitude as regards Germany, losses in battle and by desertions cannot be esti- insisting that armed ships must not- pass through mated. Guns, including heavy artillery, and an the Danube in all-Rumanian territory. At the incalculable quantity oft material of all kinds have close of the month the Austro-Germans deemed been captured. The German losses, however de- it best to divert part of their armies to the Rumanian plorable, have been extremely moderate, and our border to be prepared for eventualities. troops have not suffered from disease." As concerns Greece, Venizelos on Nov. 4 exer- The next day Berlin Military Headquarters cised his power in the Chamber of Deputies to reported the capture of more Serbian prisoners and defeat the Zaimis Ministry, which at once tendered added to the previous day's statement the further its resignation.

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