The /p , BANK AND QUOTATION SECTION. PAGES 17«7 TO 18U4 INCLUSIVE, INDEX TO THIS SECTION. PAOB. PAOB. INDEX TO ADVERTISEMENTS 1791 COAL, IRON & STEEL STOCKS 1815 REVIEW OF OCTOBER 1791 DO DO BONDS 1814 ELECTRIC, GAS & POWER STOCKS.. 1815 NEW YORK STOCK EXCHANGE— DO DO BONDS... 1814 Record of Bond Sales and Prices. 1798 EXCHANGE SEATS 1818 Record op Stock Sales and Prices. .1802 INSURANCE STOCKS 1816 GENERAL RAILROAD QUOTATIONS— MARINE IN8URANCE 8CRIP 1816 Railroad Bonds 1805 MANUFACTG, Northern & Southern. 1816 Railroad Stocks 1810 MINING STOCKS 1817 STREET RAILWAY PRICES- REAL ESTATE TRUST&LANDSTCKS. 1817 Street Railway Bonds 1811 TELEGRAPH & TELEPHONE 8TCK3.1817 Street Railway Stocks 1818 DO DO BONDS. 1814 TITLE A R. SAFE DEP. STOCKS . 1817 8TATE AND MUNICIPAL BONDS 1819 GU & WATER BONDS 1815 FOREIGN 1819 GOVERNMENT BONDS MISCELLAN EOUS SI OCKS 1817 BANKS AND TRUST COMPANIES ....1824 DO BONDS 1815 |^~We have no extra copies of this Section. UNTO^T. V, 1903. WILLIAM B. DANA COMPANY, PUBLISHERS, PINK STREET! PEAKL STREET, X! W FORK .i. I ad 009 Utu- to Act wt OOBgNH iii the your HH)3.1>y Willi 01 It. DAXA OOWAVT,ln 0006 of L •I'i.iii of 001 ingtoii, D. G V weekly newspaper entered at Post Office, New York, as second-class mat ler—William B.Dana Oiv;asv, Publishers, 7C>* l\ao >t, I AUGUST BELMONT & CO., BANKERS, No. 23 NASSAU STREET, NEW YORK. AGENTS 1 v i> CORRESPONDENTS OF THE Messrs. ROTHSCHILD, LONDON, PARIS AND VIENNA. Issue Letters of Credit for Travelers, available in all parts of the world. Draw Bills of Exchange and make Telegraphic Transfers to EUROPE, Cuba, the other West Indies, Mexico and California. Execute Orders for the Purchase and Sale of Investment Securities. LEE, HIGGINSON & CO., Boston, Mass* INVESTMENT SECURITIES. FOREIGN EXCHANGE DRAWN ON Messrs. N. M. ROTHSCHILD & SONS, AND Messrs. COUTTS & COMPANY, LONDON; Messrs. MORGAN, HARJES & COMPANY, PARIS; Messrs. M. M. WARBURG & COMPANY, HAMBURG. Travelers' Letters of Credit Members of New York, Boston and AVAILABLE IN ALL PART8 OF THE WORLD. Chicago Stock Exchanges. Bank and Quotation SECTION OF THE ^ OMlVIERCIftL & f 1NANC1AL ^ HRONICLE. Entered according to Act or Congress in the year 1903, by William B. Dana Company, In Office of Librarian of Congress, Washington. D. C A weekly newspaper entered at Post Office. New York, as second-class matl«r-WlLLlAM B. Dana Company, Publishers, TtJH line SL, N. T. VOL. 77. NEW YORK, NOV KM HER 7, 1903 NO. 2002 INDEX REVIEW OF OCTOBER. The month of October was marked TO STATEMENTS OF BANKS AND TRUST COMPANIES. by a succession of unfavorable events. It cannot be 8*1(1, however, that confidence was any farther disturbed; on the ALBANY, N. Y. FAOB. M08ILE, ALA. PAOB. Matloaal Commercial Bank. 1774 Peoples Bank »7 79 contrary the tone was distinctly better at the olose of ATLANTA, QA. MONTGOMERY, ALA. the month, the feeling evidently being that with the Atlanta National Bank 1778 Mer. A Plant. -Parley Nat. Bk. 1779 adverse happenings out of the situation BALTIMORE, MO. NASHVILLE, TENN. way the had Farmers St Merch. Nat. Bk.. 1777 American National Bank 1780 measurably Improved. Merchants' National Bank.. 1777 Pourth National Bank 1780 BIRMINGHAM, ALA. One of the earliest developments was the announce- NEWARK, N. J. Alabama National Bank 1779 Nafl Newark Banking Co 17 73 ment which came after the close of business on Toes- Plrat Bank i779 National Union National Bank >773 day the 6th that the quarterly BOSTON, MASS. dividend on the com- NEW ORLEANS, LA. American Loan St Tru.it Co. • X77» mon stock of the United States Steel Hibernla Bank St Trust Co. .1778 Corporation had BUFFALO. N. Y. been reduced from 1 per cent quarterly to Marine National Bank -«774 NEW YORK. N. Y. \ Bank of New York, N. B. A.. 1771 per oent quarterly. CHATTANOOGA, TENN. Central National Bank 177a At the s»me time the Chattanooga National Bk.. .1781 Chemical National Bank 1770 company's quarterly income statement was submitted, Farmers' Loan A Trust Co.. 1790 CHICAGO, ILL. Gallatin National Bank 1770 sbowiDg that there bad been a material falling off in American Trust & Sav. Bank «7»3 Hanover National Bank 1770 Chicago National Bank .178a Irving National Bank '77* profits as the result of the depression in the iron and Continental National Bank .1783 Liberty National Bank 1770 Drovers Deposit Nat. Bank .1781 Merchants' National Bank.. 177a steel trades. For the nine months to September 30 Nat. Bk. of North America. • 1785 Merchants' Trust Co 177a Nat. Bank of the Republic. .1781 Nat'l Bank of Commerce. ... 1 771 the loss was only about seven million dollars, the net National Live Stock Bank. .1781 National Park Bank 1771 Oriental Bank 1 771 earnings for 1903 being given as $94,013,836, against CHARLESTON, S. C. Seaboard National Bank 177a Peoples National Bank .1778 101,323,004 In the nine months of 1902; but it ap- CINCINNATI. OHIO. NORFOLK, VA. Citizens Bank peared that over 4£ million dollars of the loss fell in Fifth National Bank 1783 1779 Norfolk National Bank 1779 the third quarter of the year that Is, the CLEVELAND. OHIO. — September OMAHA, NEB. Colonial National Bank.. 178a quarter. Furthermore, of the Omaha National Bank 1785 14,642,668 decrease In COLUMBUS, OHIO. this PATERSON, N. J. September quarter, almost three million dollars Merchants St Manuf. Nat. Bk »783 Pirst National Bank Ohio National Bank 1781 1773 occurred in the last month, namely September. The DALLAS, TEXAS. PHILADELPHIA, PA. shrinkage In profits, of course, furabhed the occasion American National Bank 1780 Bank of North America 1776 Central National Bank 1776 for the cutting of the dividend In two, but it also DENVER, COL. Corn Exchange Nat. Bank ..1777 First National Bank 1784 Farmers' St Mech. Nat. Bk. 1776 served as an indication of the change that had come Fourth Street National Bk . 1 774 DETROIT, MICH. Franklin National Bank 1777 over the iron and s'eel situation. Steel Corporation State Savings Bank 1781 Oirard National Bank >777 Oirard Trust Company 1776 common stock dropped from 18i on Oct. 3 to 1SJ DULUTH, MINN. Philadelphia National Bk.. 1 776 Plrat National Bank .. 1786 October 12 and the preferred stock from 66 October PITTSBURG, PA. FORT WORTH, TEX. Mellon National 6 to bl\ October 13. Later In the month there was Port "Worth National Bank 1780 Bank '775 Union Trust Company '775 HARTFORD, CONN. some improvement in price, the two stocks closing ttna National Bank PORTLAND, ORE. 1773 respectively at and 58$. Rigid curtailment of First Nat. Bank 1786 13J HOUSTON, TEX. Portland Trust Co .1786 output was practiced by iron South Texas National Bank. 1780 producers and at the INDIANAPOLIS, IND. ST. JOSEPH, MO. close of the month it looked as if an equilibrium National Merchants' National Bank. Bank of St. Joseph. 1784 «775 between supply and demand would soon be established. Tootle-Lemon National Bk. 1 784 JERSEY CITY, N. J. Commercial Trust Co. of N.J. 1773 ST. LOUIS, MO. Anothtr development of the month was the finan- Pirst National Bank '773 Mercantile Trust Co 1784 cial embarrassments in several different N. reported J.TltleGuar.&Trust ... 1833 Mississippi Valley Trust Co. 1785 parts Third Nat. Bank of St. KNOXVILLE, TENN. Louis. 1785 of the country. The earliest of these came on Thurs- City National Bank 1780 ST. PAUL, MINN. day evening of the very first day of the month, when LOS ANQELES, CAL. Merchants' National Bank.. 1787 Southwestern National Bk 1787 Messrs. John L. Williams & Sons of Richmond and SALT LAKE CITY, UTAH. LOUISVILLE, KY. Walker Brothers 1787 .J. William Mlddendorf & Co. of Bdtlmore gave out a National Bank of Kentucky 1778 SAVANNAH, QA. statement saying that ia view of the extraordinary MACON, QA. Savannah Trust Company ..1778 Exchange Bank 1778 and unexpected financial situation SEATTLE, WASH. which prevailed MILWAUKEE, WI8. Washington National Bk...t7S6 they found themselves under the necessity of asking Plrat National Bank »775 8PRINGFIELD, MASS. temporary Indulgence of their creditors. The effects in MINNEAPOLIS, MINN. Chapln National Bank '774 Plrat Nat. Bk. of Minneap... 1786 this Instance were not very marked, since the credi- Northwestern National Bk. 1787 TOLEDO, OHIO. Security Bank of Minneaota. Nat'l 1786 Bank of Commerce. :.. 1 77 j tors of the two firms promptly came to their aid and WILLIAM B. DANA COMPANY, Publishers, granted the extension asked. On Monday the Pine St.. corner of Pearl St.. Nfw Yooh 19th two other suspensions were announced in Balti- . 6 5 j Vol. i.xxvii. 1VJ-2 MONTHLY REVIKW | more, one the Maryland Trust Go. and the other the & Baltimore bonds. In both these instances the sub- Union Trust Co. of the lame city. Neither bad any scriptions to a syndicate organized to take the bonds connection, near or remote, with the affairs of John from Kuhn, Loeb & Co. were largely in excess of the L. Williams & Sons or J. William Middendorf & Co. amount required. Union Pacific common stock ad- Contemporaneously the International Bank & Trust vanced from 67} on the 12th to 73f on the 27th, and Company of America, with branchei in various parts Baltimore' & Oalo common between the same two of the country, was obliged to close its doors. The dates rose from 72 to 76? and Illinois Central from Mexican office was closed on Saturday the 17th and 1274 to 132}. New York Central moved up from the Seattle and San Francisco branches on Monday 113£ on the 1st to 120} on the 27th and Pennsjlvania the 19th, while later the New York office was also from 116} on the 1st to 120$ on the 29th.